2.21 Provisions:

Provisions (legal and constructive) are
recognised when the Company has a present
obligation (legal or constructive) as a result of
a past event, it is probable that the Company
will be required to settle the obligation, and a
reliable estimate can be made of the amount of
the obligation.

The amount recognised as a provision is the
best estimate of the consideration required to
settle the present obligation at the end of the
reporting period, taking into account the risks
and uncertainties surrounding the obligation.
When a provision is measured using the cash
flows estimated to settle the present obligation,
its carrying amount is the present value of
those cash flows (when the effect of the time
value of money is material).

When some or all of the economic benefits
required to settle a provision are expected to
be recovered from a third party, a receivable is
recognised as an asset if it is virtually certain
that reimbursement will be received and the
amount of the receivable can be measured
reliably.

Onerous contracts

If the Company has a contract that is onerous,
the present obligation under the contract is

recognised and measured as a provision.
However, before a separate provision for an
onerous contract is established, the Company
recognises any impairment loss that has
occurred on assets dedicated to that contract

An onerous contract is a contract under which
the unavoidable costs (i.e., the costs that the
Company cannot avoid because it has the
contract) of meeting the obligations under the
contract exceed the economic benefits expected
to be received under it. The unavoidable costs
under a contract reflect the least net cost of
exiting from the contract, which is the lower of
the cost of fulfilling it and any compensation
or penalties arising from failure to fulfil it.

2.22 Contingent liabilities

A contingent liability is a possible obligation
that arises from past events whose existence
will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future
events beyond the control of the Company
or a present obligation that is not recognized
because it is not probable that an outflow
of resources will be required to settle the
obligation. A contingent liability also arises in
extremely rare cases where there is a liability
that cannot be recognized because it cannot
be measured reliably. The Company does not
recognize a contingent liability but discloses
its existence in the financial statements.

2.23 Commitments:

Commitments are future liabilities for
contractual expenditure. The commitments are
classified and disclosed as follows:

(a) The estimated amount of contracts
remaining to be executed on capital
account and not provided for; and

(b) Other non-cancellable commitments,
if any, to the extent they are considered
material and relevant in the opinion of
the Management.

(B) Significant Accounting Judgements, Estimates
and Assumptions:

The preparation of the Company’s financial
statements requires management to makejudgements,
estimates and assumptions that affect the reported
amounts of revenues, expenses, assets and liabilities,
and the Company disclosures, and the disclosure of
contingent liabilities. Management believes that the
estimates used in the preparation of the financial
statements are prudent and reasonable. Uncertainty
about these assumptions and estimates could result
in outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in
future periods. Difference between actual results and
estimates are recognised in the periods in which the
results are known / materialised.

Estimates, Assumptions and Judgements:

The key assumptions concerning the future and
other key sources of estimation uncertainty 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. The Company has based its
assumptions and estimates on parameters available
when the financial statements were prepared.
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.

In the process of applying the Company’s accounting
policies, management has made the following
judgements, which have the most significant effect on
the amounts recognised in the financial statements:

(i) Useful life of Property, Plant and
Equipment:

Property, Plant and Equipment represent a
significant proportion of the asset base of the
Company. The charge in respect of periodic
depreciation is derived after determining an
estimate of an asset’s expected useful life,
its expected usage pattern and the expected
residual value at the end of its life. The

useful lives, usage pattern and residual values
of Company's assets are determined by
management at the time the asset is acquired
and reviewed periodically, including at each
financial year end. The lives are based on
historical experience with similar assets as
well as anticipation of future events, which
may impact their life, such as changes in
technology etc.

(ii) Inventories:

The Company writes down inventories to
net realisable value based on an estimate of
the realisability of inventories. Write downs
on inventories are recorded where events
or changes in circumstances indicate that
the carrying value may not be realised. The
identification of write-downs requires the use
of estimates of net selling prices of the down¬
graded inventories. Where the expectation
is different from the original estimate, such
difference will impact the carrying value of
inventories and write-downs of inventories in
the periods in which such estimate has been
changed.

(iii) Defined Benefit Obligation:

The Company’s obligation on account
of gratuity and compensated absences is
determined based on actuarial valuations. An
actuarial valuation involves making various
assumptions that may differ from actual
developments in the future. These include
the determination of the discount rate, future
salary increases and mortality rates. Due to the
complexities involved in the valuation and its
long-term nature, these liabilities are highly
sensitive to changes in these assumptions. All
assumptions are reviewed at each reporting
date.

The parameter most subject to change is the
discount rate. In determining the appropriate
discount rate, the management considers
the interest rates of government bonds in
currencies consistent with the currencies of the
post-employment benefit obligation.

The mortality rate is based on publicly available
mortality tables. Those mortality tables tend
to change only at interval in response to
demographic changes. Future salary increases
and gratuity increases are based on expected
future inflation rates.

Further details about gratuity obligations are
given in Note 32 (IIl).

(iv) Current Tax expense and Deferred Tax:

The Company’s tax jurisdiction is India.
Significant judgements are involved in
estimating budgeted profits for the purpose of
paying advance tax, determining the provision
for income taxes, including amount expected to
be paid/recovered for uncertain tax positions.
A tax assessement can involve complex issues,
which can only be resolved over extended
time periods. The recognisation of taxes that
are subject to certain legal or economic limits
or uncertainties is assessed individually by
the managment based on the specific facts and
circumstances.

(v) Recognition of Deferred Tax Assets/
Liabilities:

The recognition of deferred tax assets/
liabilities is based upon whether it is more
likely than not that sufficient and suitable
taxable profits will be available in the future
against which the reversal of temporary
differences can be deducted. To determine the
future taxable profits, reference is made to the
latest available profit forecasts.

(vi) Provisions & Contingent Liabilities:

Provisions and liabilities are recognized in the
period when it becomes probable that there
will be a future outflow of funds resulting from
past operations or events that can reasonably
be estimated. The timing of recognition
requires application of judgement to existing
facts and circumstances, which may be subject
to change. The amounts 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.

In the normal course of business, contingent
liabilities may arise from litigation and
other claims against the Company. Potential
liabilities that are possible but not probable of
crystallising or are very difficult to quantify
reliably are treated as contingent liabilities.
Such liabilities are disclosed in the notes but
are not recognized.

(vii) Financial Instruments:

When the fair values of financial assets and
financial liabilities recorded in the balance
sheet cannot be measured based on quoted
prices in active markets, their fair value is
measured using valuation techniques including
the DCF model. The inputs to these models
are taken from observable markets where
possible, but where this is not feasible, a
degree of judgement is required in establishing
fair values. Judgements include considerations
of inputs such as liquidity risk, credit risk and
volatility. Changes in assumptions about these
factors could affect the reported fair value of
financial instruments. See Note 32 (VII) &
(VIII) for further disclosures.

(viii) Allowance for uncollected accounts
receivable and advances

Trade receivables do not carry any interest
and are stated at their normal value as reduced
by appropriate allowances for estimated
irrecoverable amounts. Individual trade
receivables are written off when management
seems them not collectible. Impairment is
made on the expected credit losses, which are
the present value of the cash shortfall over the
expected life of the financial assets.

The impairment provisions for financial assets
are based on assumption about risk of default
and expected loss rates. Judgement in making
these assumption and selecting the inputs to
the impairment calculation are based on past
history, existing market condition as well as
forward looking estimates at the end of each
reporting period.

(C) Application of new Revised Ind AS

The Ministry of Corporate Affairs (“MCA”)
notifies new standards or amendment to the existing
standards under Companies (Indian Accounting
Standards) Rules, 2015 as issued and amended
from time to time. For the year ended March
31, 2025, MCA has notified Ind AS - 21 “The
Effects of Changes in Foreign Exchange Rates”,
which introduces refinements to the definition of
exchangeable currency and the methodology for
estimating spot rates. Corresponding changes have
also been made in Ind AS 101 “First-time Adoption
of Indian Accounting Standards”, applicable to the
Company w.e.f. May 7, 2025. The Company has
reviewed the new pronouncements based on its
evaluation it has determined that it does not have any
significant impact in its financial statements.

Note 12.1:

Short term fixed deposits are varying between three months and twelve months, depending on the immediate cash requirements and
earn interest at the respective short term deposit rate. Interest rate is between 6.8% - 7.40%.

Note 12.2:

For the purposes of the statement of cash flows, cash and cash equivalents include cash on hand and in banks, net of outstanding
bank overdrafts. Cash and cash equivalents at the end of the reporting period as shown in the statement of cash flows can be
reconciled to the related items in the balance sheet as above.

Note 12.3:

The Company has obtained overdraft facilities of Rs. 245.93 Lakhs against the bank deposits issued by bank. The Company has not
utilised the said credit facilities any time during the year and prior year and hence, none of the bank deposits have been lien marked
by any bank(except as stated in Note 12) for the said credit facility.

Nature and Purpose of the Reserves :

Note 16.1 :

Persuant to the amalgamation in the earlier years, Capital Reserve, Capital Redemption Reserve and Securities premium have been
incorporated in the Company. This reserves will be utilised in accordance with the provisions of the Companies Act, 2013.

Note 16.2 :

General Reserves is created pursuant to the scheme of amalgamation and transfer profits from Retained earnings for appropriation
purpose. This reserve will be utilised in accordance with the provisions of the Companies Act, 2013.

Note 16.3 :

The Company has elected to recognise changes in the fair value of certain investments in equity securities and changes in actuarial
gains and losses on re-measurement of defined benefit plan.

B. Details of the carrying amount of Right to use assets and movement during the year is disclosed under Note 3(B).

C. Maturity analysis of the lease liability are disclosed in Note 32(VII)(C).

D. The effective interest rate for lease liabilities is 7.30 % with maturity between 3 to 5 years.

III. Employee Benefits :

A. Defined Contribution Plans:

The Company offers its employees defined contribution plans in the form of Provident Fund (PF) and Superannuation
with the government and certain state plans such as Employees’ State Insurance (ESI). PF cover substantially all regular
employees and the Superannuation plan covers mainly executive directors. Contributions are made to the Government’s
administered funds. While both the employees and the Company pay predetermined contributions into the Provident Fund
and the ESI Scheme, and contributions into the Superannuation plan is made only by the Company. The contributions are
normally based on a certain proportion of the employee’s salary.

(a) Contributions to Provident Fund for employees at the rate of 12% p.a. of basic salary (as per regulations), are made
to registered Provident Fund administered by the government.

B. Defined Benefit Plan:

In respect of Gratuity, a defined benefit plan, is governed by the Payment of Gratuity Act, 1972. Under the Gratuity Act,
employees are entitled to specific benefit at the time of retirement or termination of the employment or on completion
of five years or death while in employment. The level of benefit provided depends on the member’s length of service
and salary at the time of retirement/termination age. Provision for gratuity is based on actuarial valuation done by an
independent actuary as at the year end.

The following table sets out the status of the gratuity plan and the amounts recognised in the Company’s financial
statements as at March 31, 2025:

B.6 Risks associated with defined benefit plan:

Gratuity is a defined benefit plan and Company is exposed to the following Risks:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of
the liability requiring higher provision.

Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of
members. As such, an increase in the salary of the members more than assumed level will increase the plan's liability.
Asset Liability Matching (ALM) Risk: The plan faces the ALM risk as to the matching cash flow. Entity has to
manage pay out based on pay as you go basis from own fund.

Mortality Risk: Since the benefits under the plan is not payable for life time and payable till retirement age only,
plan does not have any longevity risk.

B.7 Curtailment Gain :

The operations of Textile Division (“Division”) of the Company was under suspension. On April 15, 2025,
considering the outlook and scenario of the Textile business, the Board of Directors have decided to close down
the Division, subject to approval of Government Authorities. Due to this development, which significantly
reduces the future tenure of eligible members compared to March 31, 2024, we have recorded a curtailment gain
for the reporting period.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has
been calculated using the projected unit credit method at the end of the reporting period, which is the same method
as applied in calculating the projected benefit obligation as recognized in the balance sheet.

There was no change in the method and assumptions used in preparing the sensitivity analysis as compared to prior year.

C. Compensated Absences :

The Company’s employees are entitled for compensated absences which are allowed to be accumulated and encashed as
per the Company’s rule. The liability of compensated absences, which is non-funded, has been provided based on report
of independent actuary using “Projected Unit Credit Method”.

The obligation for compensated absences (other than sick leaves) (non-funded) is recognized using the projected unit
credit method and accordingly the long-term paid absence has been valued. The Liability towards leave encashment for
the year ended March 31, 2025 as per actuarial valuation is Rs. 66.46 lakhs (P.Y Rs. 108.43 lakhs).

The Company has made provision for sick leave based on the expected utilisation of leaves as at the year ended March
31, 2025 of Rs. 3.36 Lakhs (P.Y.Rs. 4.59 Lakhs). The total leave provision as at the year ended March 31, 2025 stands at
Rs. 69.82 lakhs (P.Y. Rs. 113.02 lakhs).

Notes:

a. The above figures are exclusive of GST wherever applicable.

b. The amount outstanding are unsecured and will be settled in cash or receipt of goods or services. No guarantee
have been given. No expense has been recognized in the current period or prior years for bad or doubtful debts in
respect of the amounts owed by related parties.

c. The remuneration of the directors and key management personnel is determined by the remuneration committee
having regard to the performance of individual and market trends.

d. Key Management Personnel (KMP) who are under the employment of the Company are entitled to post employment
benefits and other long term employee benefits recognised as per Ind AS 19 - ‘Employee Benefits’ in the financial
statements. As these employee benefits are provided on the basis of actuarial valuation, for the Company as a
whole, hence the details in respect of long term benefits to KMP and their relatives are not disclosed. Further there
is no Share-based payments to Key Management Personnel of Company.

VI. Capital Management

The Company's objective for capital management is to maximise shareholder value, safeguard business continuity and
support growth of the Company. Capital includes, Equity Capital, Securities Premium, and other reserves and surplus,
attributable to the equity shareholders of the Company. The Company determines the capital requirement based on
annual plans and long term and strategic investment and capital expenditure plans. The funding requirements are met
through mix of equity, operating cash flows generated and debt. The operating management, supervised by the Board of
Directors of the Company regularly monitors its key gearing ratio and other financial parameters and takes corrective
actions wherever necessary. The Company is not subject to any externally imposed capital requirements.

VII. Financial Risk Management

Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk
management framework. Management has identified the following risk.

• Credit Risk

• Market Risk

• Liquidity Risk

• Currency Risk

Company’s Audit Committee oversees how Management monitors compliance with the Company’s risk management
policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by
the Company.

A Credit Risk

Credit risk is the risk of financial loss arising from counter party failure to repay according to the contractual
terms or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of
creditworthiness as well as concentration of risks. Before accepting any new customer, the Company evaluates the
credit worthiness of the potentional customers based on external inquiries as deemed appropriate. The Company
only deals with parties which has good credit ratings / worthiness based on Company’s internal assessment. Credit
risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the
credit has been granted after necessary approvals for credit. The Company has not acquired any credit impaired
asset. There was no modification in any financial assets.

(i) Trade Receivable

Customer credit is managed by each business division subject to the Company’s established policy procedures
and control related to customer credit risk management.

Export customers are mainly against Letter of Credit. Each outstanding customer receivables are regularly
monitored and if outstanding is above due date the further shipments are controlled and can only be released
if there is a proper justification.

Credit risk on trade receivables and contract assets are managed by each business unit subject to the Company’s
established policy, procedures and control relating to customer credit risk management. Credit quality of a
customer is assessed and individual credit limits are defined in accordance with this assessment. Moreover,
given the diverse nature of the Company’s businesses, trade receivables and contract assets are spread over a
number of customers with no significant concentration of credit risk. No single customer accounted for 10%
or more of the trade receivables and contracted assets in any of the years presented.

The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers
are located in several jurisdictions and industries and operate in largely independent markets and their credit
worthiness are monitored at periodical intervals. The maximum exposure to credit risk at the reporting date
is the carrying value of each class of financial assets.

The Company has written off trade receivables amounting to Rs. Nil during the year (March 31, 2024 Rs.
25.98 lakhs) as there was no reasonable expectations of recovery and were outstanding for more than 720
days from becoming due.

(ii) Other Financial Assets

Credit risk from balances with banks is in accordance with the Company policy. Investment of surplus funds
are made only in approved Mutual Funds or bank deposits. The other financial assets are from various forum
of Government authorities and are released by Government authorities on completion of relevant terms and
conditions for the release of outstanding.

B Market Risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes
in market rates and prices (such as interest rates, foreign currency exchange rates and commodity prices) or in the
price of market risk-sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is
attributable to all market risk-sensitive financial instruments, all foreign currency receivables and payables and all short
term and long-term debt. The Company is exposed to market risk, primarily related to foreign exchange rate risk, interest
rate risk and commodity price risk. Thus, the Company’s exposure to market risk is a function of investment activities
and revenue generating and operating activities in foreign currencies.

The Company has designed risk management frame work to control various risks effectively to achieve the business
objectives. This includes identification of risk, its assessment, control and monitoring at timely intervals.

The sensitivity analyses in the following sections relates to the outstanding balance as at March 31, 2025 and March 31,
2024.

The sensitivity analysis have been prepared on the basis that the proportion of financial instruments in foreign currencies
are all constant in place at March 31, 2025. The sensitivity of the relevant profit or loss item is the effect of the assumed
changes in respective market risks. This is based on the financial assets and financial liabilities held at March 31, 2025
and March 31, 2024.

(i) Interest Rate Risk:

The Company’s investments are primarily in fixed rate interest bearing investments. Hence, the Company is not
significantly exposed to interest rate risk.

(ii) Foreign Currency risk:

The Company is also exposed to foreign currency risk on certain transactions that are denominated in a currency
other than the Company’s functional currency; hence exposures to exchange rate fluctuations arise. The risk is that
the functional currency value of cash flows will vary as a result of movements in exchange rates. The Company’s
foreign exchange risk arises from foreign currency revenues and expenses, (primarily in US Dollars and Euros). As
a result, if the value of the Indian rupee appreciates relative to these foreign currencies, the Company’s revenues
and expenses measured in Indian rupees may decrease or increase and vice-versa. The exchange rate between
the Indian rupee and these foreign currencies have changed substantially in recent periods and may continue to
fluctuate substantially in the future.

Foreign Currency Sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD and EUR exchange
rates, with all other variables held constant. The impact on the Company’s profit before tax is due to changes in
the fair value of monetary assets and liabilities. The Company evaluates exchange rate exposure arising from
foreign currency transactions. The Company follows established risk management policies and standard operating
procedures. The Company’s exposure to foreign currency changes for all other currencies is not material.

C Liquidity Risk

(i) Liquidity risk management

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral
obligations without incurring unacceptable losses. The Company’s objective is to, at all times maintain optimum
levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity position
and deploys a robust cash management system. It maintains adequate sources of financing including bilateral
loans, debt, and overdraft from banks at an optimised cost. Working capital requirements are adequately addressed
by internally generated funds. Trade receivables are kept within manageable levels. Further, the Company has an
undrawn balance of Rs. 245.93 Lakhs against the overdraft facility sanctioned by the bank.

(ii) Maturities of financial liabilities

The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities
with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial
liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest
and principal cash flows. The contractual maturity is based on the earliest date on which the Company may be
required to pay.

VIII. Fair Value Measurement

The significant accounting policies, including the criteria of recognition, the basis of measurement and the basis on
which income and expenses are recognised, in respect of each class of financial asset, financial liability, and equity
instrument are disclosed in note 2.8 of the Ind AS financial statement.

Carrying amounts of cash and cash equivalents, trade receivables and trade payable as at March 31, 2025 and
March 31, 2024 approximate the fair value because of their short term nature. Difference between the carrying
amount and fair values of other financial liabilities subsequently measured at amortized cost is not significant in
each of the year’s presented.

The fair value of the financial assets and liabilities are included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following
methods and assumptions were used to estimate the fair values:

(i) Receivables are evaluated by the Company based on parameters such as interest rates and individual credit
worthiness of the customer. Based on this evaluation, allowances are taken into account for the expected
credit losses of these receivables.

(ii) The fair value of financial liabilities, security deposit, as well as other financial liabilities is estimated
by discounting future cash flows using rates currently available for debt on similar terms, credit risk and
remaining maturities.

Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are
either observable or unobservable and consist of the following three levels:

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

Level 2: Inputs are other than quoted prices included within level 1 that are observable for the asset or
liability either directly (i.e. prices) or indirectly (i.e. derived from prices).

Level 3: Inputs are based non observable market data. Fair value is determined in whole or in part using a
valuation model based on assumptions that are neither supported by prices from observable current market
transactions in the same instrument nor are they based on available market data.

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis and
financial assets that are not measured on fair value on recurring basis (but fair value disclosures are required).

X. Events after the reporting period

The operations of Textile Division (“Division”) of the Company was under suspension. On April 15, 2025, considering
the outlook and scenario of the Textile business, the Board of Directors have decided to close down the Division,
subject to approval of Government Authorities.

As on March 31, 2025, Textile Division has the liabilities amounting to Rs. 931.68 lakhs and carrying value of the
assets of Rs. 1114.67 lakhs. There is a contingent liability of Rs. 253.77 lakhs in respect of the Division. As it is non
adjusting event, it has not been considered as Discontinued Operations as on March 31, 2025. An estimated adverse
impact on assets and liabilities (including workers’ liabilities) of this Division has been recognised in the Financial
Statements for the year ended March 31, 2025. The Company has other operations which is continued to be pursued
by the management.

Figures in bracket denotes previous year.

Note:

The amounts shown above represents the best possible estimates arrived at on the basis of available information.
The uncertainties are dependent on the outcome of the different legal processes. The timing of future cash flows will
be determinable only on receipt of judgments / decisions pending with various forums/authorities. The Company
does not expect any reimbursements against the above.

XII In respect of a joint property development transaction of earlier year, which was subject matter of arbitration award, an
appeal is filed before the division bench of Hon’ble Bombay High Court by both the parties against decision of single
bench of Hon’ble Bombay High Court and the same is pending as on date. The Company has already made provision
of Rs.63.98 lakhs in terms of arbitration award in the FY 2016-17 against the claim of Rs.1597.39 lakhs plus interest. In
view of management no further liability is expected.

XV Interest Subsidy:

(a) Recognition of interest subsidy: Company has been recognising interest subsidy in terms of its eligibility under the
New Textile Policy 2012 as Other Income from May 2014 to September 2019.

(b) Recovery of subsidy from Government: The aggregate subsidy of Rs. 127.73 lakhs recognized by the Company
for the period from October 2016 to September 30, 2019, has remained outstanding as on March 31, 2025. The
technical issues faced on government portal has been resolved and the same are pending for processing by the
Government authorities.

Accordingly, the subsidy of Rs. 127.73 lakhs shown under the head Current Assets - Other Financial Assets, has been

considered as good and recoverable in nature.

XVI Income Tax:

(a) The Company has decided to opt for concessional income tax rate of 22 percent as per section 115 BAA of the
Income Tax Act, 1961 effective from Assessment Year 2021 - 22 (Financial Year 2020-21).

(b) Nature of Deferred Tax Assets / (Liabilities)

XVIII Additional Regulatory Information

i. Loan and advances to specified persons:

The Company has not granted any loans or advances in the nature of loans to any promoters, directors, KMPs, and
the related parties.

ii. Details of benami property held:

The Company does not have any Benami property, where any proceedings have been initiated on or are pending
against the Company for holding any Benami Property.

iii. Borrowings secured against current assets:

The Company is not required to submit any quarterly returns or statements of current assets. (Refer Note 12.3).

iv. Wilful defaulter:

The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

v. Relationship with struck off companies:

The Company has no transactions with the companies struck off under section 248 of the Companies Act, 2013 or
section 560 of the Companies Act, 1956 during the year ended March 31, 2025 and March 31, 2024.

vi. Registration of charges or satisfaction of charges with the Registrar of Companies (ROC):

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period. (Refer Note 12.3).

vii. Compliance with number of layer of companies:

The Company does not have any subsidiaries and hence the disclosure clause is not applicable.

viii. Ratio:

For Ratio as required is given in Annexure A attached to the Financial Statement.

ix. Compliance with approved scheme of arrangements:

The Company has not entered into scheme of arrangements in terms of section 230 to section 237 of the Companie
Act, 2013 which has an accounting impact during the year ended March 31, 2025 and previous year ended March
31, 2024.

x. Utilisation of borrowed funds and share premium:

(A) The Company has not advanced or loaned invested funds (either borrowed funds or share premium or
any other sources or kind of funds) to any other persons or entities, including foreign entities with the
understanding that the Intermediary shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manners whatsoever by
or on behalf of the Company (ultimate beneficiaries) or

(b) Provide any guarantee, security, or the like to or on behalf of the ultimate beneficiaries.

(B) The Company has not received any fund from any persons or entities, including foreigh entities (funding
party) with the understanding (whether recorded in writing or otherwise) that the company shall :

(a) 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

(b) Provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

xi. Utilisation of borrowings availed from banks and financial institutions:

The Company does not have any borrowings hence the disclosure clause is not applicable.

xii. Corporate Social Responsibiliy :

The Company does not meet any of the criteria specified u/s 135 of the Act, hence the provisions are not applicable.

xiii. Undisclosed Income:

There is no income surrendered or disclosed as income during the year ended March 31, 2025 and previous year
ended March 31, 2024 in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the
books of accounts.

ix. Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the year ended March 31,
2025 and March 31, 2024.

XIX The Company’s financial statements are authorized for issue in accordance with a resolution of the Board of Directors
on May 14, 2025 in accordance with the provisions of the Companies Act, 2013 and are subject to the approval of the
shareholders at the ensuing Annual General Meeting.

XX The figures in the financial statements are rounded off to the nearest lakhs and indicated in lakhs of Rupees.

Signatures to Notes “1” to “32”

As per our report of even date attached

For and on behalf of the Board of Directors

For S H R & Co.

Chartered Accountants. Khushaal C. Thackersey Abhimanyu J. Thackersey

Firm's Registration No.: 120491W Joint Managing Director Joint Managing Director

DIN- 02416251 DIN- 00349682

Deep N Shroff Shraddha P. Shettigar Kaushik N. Kapasi

Partner Chief Financial Officer Company Secretary

Membership No. : 122592

Place : Mumbai Place : Mumbai

Date : May 14, 2025 Date : May 14, 2025