1.3.23 Provisions, Contingent Liabilities

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. If the effect of the time value of
money is material, provisions are discounted using a current pre-tax rate that reflects,
when appropriate, the risks specific to the liability.

Disclosure of contingent liability is made 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 embodying economic benefits will be required to
settle or a reliable estimate of amount cannot be made.

1.3.24 Events after Reporting Date

Where events occurring after the Balance Sheet date provide evidence of condition that
existed at the end of 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 disclose

1.3.25 Non - Current Assets Held For Sales

Non-current assets are classified as held for sale if their carrying amount will be recovered
principally through a sale transaction rather than through continuing use and sale is
considered highly probable.

A sale is considered as highly probable when decision has been made to sell, assets are
available for immediate sale in its present condition, assets are being actively marketed
and sale has been agreed or is expected to be concluded within 12 months of the date of
classification.

Non-current assets held for sale are neither depreciated nor amortised.

Assets and liabilities classified as held for sale are measured at the lower of their carrying
amount and fair value less cost of sale and are presented separately in the Balance Sheet.

1.3.26 Cash Flows Statement

Cash Flows Statements are reported using the method set out in the Ind AS - 7, "Cash Flow
Statements", whereby the Net Profit / (Loss) before tax is adjusted for the effects of the
transactions of a Non-Cash nature, any deferrals or accrual of past or future operating cash
receipts or payments and item of income or expenses associated with investing or
financing cash flows. The cash flows from operating, investing and financing activities of
the Company are segregated.

1.3.27 Cash and Cash Equivalents

Cash and cash equivalents comprise of cash on hand, cash at banks, short-term deposits
and short-term, highly liquid investments that are readily convertible to known amounts of
cash and which are subject to an insignificant risk of changes in value.

1.3.28 Recent Pronouncements

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. MCA has notified Ind AS-117 - Insurance Contracts and amendments to Ind
AS-116 - Leases, relating to sale and leaseback transactions, applicable to the Company
w.e.f. April 1, 2024. The Company has reviewed the new pronouncements and based on its
evaluation has determined that it does not have any significant impact in its financial
statements.

1.4 Critical Accounting Judgments and Key Sources of Estimation Uncertainty:

The preparation of the Company's Financial Statements requires management to make judgment,
estimates and assumptions that affect the reported amount of revenue, expenses, assets and
liabilities and the accompanying disclosures. 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 next financial years.

1.4.1 Income Tax

The Company's tax jurisdiction is in India. Significant judgments are involved in estimating
budgeted profits for the purpose of paying advance tax, determining the income tax
provisions, including the amount expected to be paid / recovered for uncertain.

1.4.2 Property Plant and Equipment/ Intangible Assets

Estimates are involved in determining the cost attributable to bringing the assets to the
location and condition necessary for it to be capable of operating in the manner intended
by the management. Property, Plant and Equipment/Intangible Assets are
depreciated/amortised over their estimated useful life, after taking into account estimated
residual value. Management reviews the estimated useful life and residual values of the
assets annually in order to determine the amount of depreciation/ amortisation to be
recorded during any reporting period. The useful life and residual values are based on the
Company's historical experience with similar assets and take into account anticipated
technological changes. The depreciation/amortisation for future periods is revised if there
are significant changes from previous estimates.

1.4.3 Defined Benefits Obligations

The costs of providing Gratuity and other post-employment benefits are charged to the
Statement of Profit and Loss in accordance with Ind AS - 19, "Employee Benefits" over the
period during which benefit is derived from the employees' services. It is determined by
using the Actuarial Valuation and assessed on the basis of assumptions selected by the
management. An actuarial valuation involves making various assumptions that may differ
from actual developments in the future. These assumptions include salary escalation rate,
discount rates, expected rate of return on assets and mortality rates. Due to complexities
involved in the valuation and its long term in nature, a defined benefit obligation is highly
sensitive to change in these assumptions. All assumptions are reviewed at each balance
sheet date.

1.4.4 Fair value measurements of 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 discounted cash flow model, which
involve various judgments and assumptions.

1.4.5 Recoverability of T rade Receivables

Judgments are required in assessing the recoverability of overdue trade receivables and
determining whether a provision against those receivables is required. Factors considered
include the credit rating of the counterparty, the amount and timing of anticipated future
payments and any possible actions that can be taken to mitigate the risk of non-payment.

1.4.6 Provisions

The timing of recognition and quantification of the liability (including litigations) requires
the application of judgment to existing facts and circumstances, which can be subject to
change. The carrying amounts of provisions and liabilities are reviewed regularly and
revised to take account of changing facts and circumstance

1.4.7 Impairment of Financial and Non - Financial Assets

The impairment provisions for Financial Assets are based on assumptions about risk of
default and expected cash loss rates. The Company uses judgment in making these
assumptions and selecting the inputs to the impairment calculation, based on Company's
past history, existing market conditions as well as forward-looking estimates at the end of
each reporting period.

In case of non-financial assets company estimates asset's recoverable amount, which is
higher of an asset's or Cash Generating Units (CGU's) fair value less costs of disposal and its
value in use.

In assessing value in use, the estimated future cash flows are discounted to their present
value using pre-tax discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset. In determining fair value less costs of
disposal, recent market transactions are taken into account, if no such transactions can be
identified, an appropriate valuation model is used.

1.4.8 Recognition of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are recognised for deductible temporary differences and
unused tax losses for which there is probability of utilisation against the future taxable
profit. The Company uses judgment to determine the amount of deferred tax that can be
recognised, based upon the likely timing and the level of future taxable profits and
business developments.

A. Actuarial Risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in Obligation at a rate that is
higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity Benefits will be paid earlier than
expected. Since there is no condition of vesting on the death benefit, the acceleration of cashflow will lead to an actuarial loss or gain depending on the
relative values of the assumed salary growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the Gratuity Benefits will be paid
earlier than expected. The impact of this will depend on whether the benefits are vested as at the resignation date.

B. Investment Risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair value of instruments backing
the liability. In such cases, the present value of the assets is independent of the future discount rate. This can result in wide fluctuations in the net liability
or the funded status if there are significant changes in the discount rate during the inter- valuation period.

C. Liquidity Risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some of such employees
resign/retire from the company there can be strain on the cashflows.

D. Market Risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One actuarial assumption that has a
material effect is the discount rate. The discount rate reflects the time value of money. An increase in discount rate leads to decrease in Defined Benefit
Obligation of the plan benefits & vice versa. This assumption depends on the yields on the corporate/government bonds and hence the valuation of liability
is exposed to fluctuations in the yields as at the valuation date.

E. Legislative Risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/regulation. The government may
amend the Payment of Gratuity Act thus requiring the companies to pay higher benefits to the employees. This will directly affect the present value of the
Defined Benefit Obligation and the same will have to be recognized immediately in the year when any such amendment is effective.

Note - 36 - Financial Instruments

Financial Risk Management - Objectives and Policies

The Company's financial liabilities mainly comprise the loans and borrowings in domestic currency, money related to capital expenditures, trade and other
payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's financial assets comprise mainly of
investments, security deposits, cash and cash equivalents, other balances with banks, trade and other receivables that derive directly from its business
operations.

The Company is exposed to the Market Risk, Credit Risk and Liquidity Risk from its financial instruments.

The Management of the Company has implemented a risk management system which is monitored by the Board of Directors of the Company. The general
conditions for compliance with the requirements for proper and future-oriented risk management within the Company are set out in the risk management
principles. These principles aim at encouraging all members of staff to responsibly deal with risks as well as supporting a sustained process to improve risk
awareness. The guidelines on risk management specify risk management processes, compulsory limitations, and the application of financial instruments.
The risk management system aims to identify, assess, mitigate the risks in order to minimize the potential adverse effect on the Company's financial
performance.

The following disclosures summarize the Company's exposure to the financial risks and the information regarding use of derivatives employed to manage
the exposures to such risks. Quantitative Sensitivity Analysis has been provided to reflect the impact of reasonably possible changes in market rate on
financial results, cash flows and financial positions of the Company.

(**) Fair value of financial assets and liabilities measured at amortized cost approximates their respective carrying values as the management has assessed
that there is no significant movement in factor such as discount rates, interest rates, credit risk from the date of the transition. The fair values are assessed
by the management using Level 3 inputs.

(***) The financial instruments measured at FVTPL represents current investments and derivative assets having been valued using level 2 valuation
hierarchy.

Fair value hierarchy

The fair value of financial instruments as referred to in note below has been classified into three categories depending on the inputs used in the valuation
technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements] and lowest
priority to unobservable inputs [Level 3 measurements].

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and

Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a net asset value
or 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.

B. Market Risk

Market Risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market Risk
comprises three types of Risk: "Interest Rate Risk, Currency Risk and Other Price Risk". Financial instrument affected by the Market Risk includes loans and
borrowings in foreign as well as domestic currency, retention money related to capital expenditures, trade & other payables.

(a) Interest Rate Risk

Interest Rate Risk is the risk that fair value or future cash outflows of a financial instrument will fluctuate because of changes in market interest rates. An
upward movement in the interest rate would adversely affect the borrowing cost of the Company. The Company is exposed to long term and short - term
borrowings. The Company manages interest rate risk by monitoring its mix of fixed and floating rate instruments and taking actions as necessary to
maintain an appropriate balance. The Company has not used any interest rate derivatives.

C. Credit Risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company's exposure to credit risk is influenced mainly by
cash and cash equivalents, trade receivables and other Financial assets measured at amortized cost. The Company continuously monitors defaults of
customers and other counterparties and incorporates this information into its credit risk controls.

The Company assesses and manages credit risk based on internal credit rating system. Internal credit rating is performed for each class of financial
instruments with different characteristics. The Company assigns the following credit ratings to each class of financial assets based on the assumptions,
inputs and factors specific to the class of financial assets. (i) Low credit risk, (ii) Moderate credit risk, (iii) High credit risk.

Based on business environment in which the Company operates, a default on a financial asset is considered when the counter party fails to make payments
within the agreed time period as per contract. Loss rates reflecting defaults are based on actual credit loss experience and considering differences between
current and historical economic conditions.

Financial assets (other than trade receivables) that expose the entity to credit risk are managed and categorized as follows:

(i) Cash and cash equivalent and bank balance:

Credit risk related to cash and cash equivalents and bank balance is managed by only accepting highly rated banks and diversifying bank deposits and
accounts in different banks.

(ii) Loans and Other financial assets measured at amortized cost:

Other financial assets measured at amortized cost includes Security Deposit to various authorities , Loans to staff and other receivables. Credit risk related
to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in
place ensure the amounts are within defined limits.

(iii) Trade receivables:

Life time expected credit loss is provided for trade receivables. Based on business environment in which the Company operates, a default on a financial
asset is considered when the counter party fails to make payments within the agreed time period as per contract. Loss rates reflecting defaults are based
on actual credit loss experience and considering differences between current and historical economic conditions. Assets are written off when there is no
reasonable expectation of recovery, such as a debtor declaring bankruptcy or a litigation decided against the Company. The Company continues to engage
with parties whose balances are written off and attempts to enforce repayment. Recoveries made are recognized in statement of profit and loss.

(a) Expected credit losses:

Expected credit loss for trade receivables under simplified approach:

The Company recognizes lifetime expected credit losses on trade receivables & other financial assets using a simplified approach, wherein Company has
defined percentage of provision by analyzing historical trend of default based on the criteria defined below and such provision percentage determined
have been considered to recognize life time expected credit losses on trade receivables (other than those where default criteria are met in which case the
full expected loss against the amount recoverable is provided for). Further, the Company has evaluated recovery of receivables on a case to case basis. No
provision on account of expected credit loss model has been considered for related party balances. The Company computes credit loss allowance based on
provision matrix. The provision matrix is prepared on historically observed default rate over the expected life of trade receivable and is adjusted for
forward - looking estimate. The provision matrix at the end of reporting period is as follows:

E. Capital Management

The Company's capital management objectives are to ensure the company's ability to continue as a going concern, to provide an adequate return to share
holders

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as presented on the face of balance sheet.
Management assesses the Company's capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage.
This takes into account the subordination levels of the Company's various classes of debt. The Company manages the capital structure and makes
adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the
capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets to
reduce debt.

The Company manages its capital on the basis of Net Debt to Equity Ratio which is Net Debt (Total Borrowings net of Cash and Cash Equivalents) divided by
total equity.

The Company has complied with the covenants as per the terms and conditions of the major borrowing facilities throughout the Reporting Period.

Note - 37 - Balance confirmation of Receivables

Confirmation letters have not been obtained from all the parties in respect of Trade Receivable, Other Non- Current Assets and Other Current Assets.
Accordingly the balances of accounts are subject to confirmation, reconcilation and consequent adjustments, if any.

Note - 38 - Balance Confirmation of Payables

Confirmation letters have not been obtained from all the parties in respect of Trade Payable and Other Current Liabilities. Accordingly the balances of
accounts are subject to confirmation, reconcilation and consequent adjustments, if any.

Note - 39 - Events occurring after the Balance sheet Date

The Group evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the financial statements to
determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. There are no subsequent
events to be recognized or reported that are not already disclosed.

Note - 40

A) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favours of the lessee) are held
in the name of the Company.

B) The Company does not have any investment property.

C) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible assets.

D) There are no loans or advances in the nature of loans are granted to Promoters, Directors, KMPs and their related parties (as defined under Companies Act, 2013), either
severally or jointly with any other person, that are outstanding as on 31 March 2025:

(i) repayable on demand; or,

(ii) without specifying any terms or period of repayment.

E) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
the rules made thereunder.

F) The company is not declared willful defaulter by any bank or financial institution or other lender.

G) The company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

H) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

I) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or
entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or
on behalf of the Ultimate Beneficiaries.

J) The company has not received any fund from any person(s) or entity(ies), 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 (Ultimate Beneficiaries) by or on behalf of
the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

K) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961. There are no such previously unrecorded
income or related assets.

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

M) Pursuant to the approval of shareholders obtained via postal ballot on September 13, 2024, and the in-principle approval from BSE and NSE on September 20, 2024, the Fund
Raising Committee of the Board of Directors has approved the allotment of 1,00,00,000 fully convertible warrants to non-promoter, public category investors on a preferential
basis at an issue price of Rs.170 per warrant. An aggregate subscription amount of Rs. 42.50 crore (25% of the issue price) has been received, with the balance payable at the time
of conversion within 18 months from the allotment date. These warrants, subject to lockin as per SEBI ICDR Regulations, 2018, are convertible into equity shares of face value
Rs.10 each. However, pursuant to the approval of NSE and BSE related to sub division/split of equity shares from a face value of Rs 10/- per share to Rs. 1/- per share.The
conversion ratio of warrants has been adjusted and shall now be convertible into one Equity shares of Rs. 1/- each instead of Rs. 10/- each.

A Current Ratio (In times)

Current Ratio increase from 3.37 to 5.77 due to increase in curent assets in F.Y. 2024-25 as compare to previous year.

B Debt - Equity Ratio (In times)

Debt - Equity Ratio decrease from 0.33 to 0.17 due to decrease in the debt in F.Y. 2024-25 as compare to previous year.

C Debt Service Coverage Ratio (In times)

Debt Service Coverage Ratio increase due to increase in earning available for debt service in FY 2024-25 as compare to pevious year.

G Trade Payable Turnover Ratio (In times)

Trade Payable Turnover Ratio has been increase due to increase in credit purchase and decrease in average trade payables in F.Y. 2024-25 as
compare to previous year.

As per our report of even date attached For, Motisons Jewellers Limited

For, Keyur Shah & Co.

F.R. No: 141173W
Chartered Accountants

Keyur Shah Sandeep Chhabra Sanjay Chhabra

Chairman & Whole Time

Proprietor Director Managing Director

M.No. 153774 (DIN:- 00120838) (DIN: 00120792)

Kaustubh Chhabra Bhavesh Surolia

Chief Financial Officer Company Secretary

M.No.: A64329

Date :- 21st May, 2025 Date :- 21st May, 2025

Place :- Ahmedabad Place :- Jaipur