i) The gross carrying amount and accumulated depreciation of Property, Plants and Equipment have been regrouped and presented on a net basis in line with the deemed cost exemption availed by the Company under Ind AS, w.e.f. April 01, 2016, being the date of transition to Ind AS.

ii) The title deeds of all immovable properties, as disclosed in the financial statements, are held in the name of the Company.

iii) The amount of contractual commitments for the acquisition or construction of property, plants and equipment, if any, is disclosed under "Note No. 30".

* The term deposits held by the Company with banks and financial institutions comprise time deposits made for varying periods ranging from one to two years and earn interest at the respective deposit rates. These deposits are held as lien or are pledged with the banks and financial institutions against bank overdraft facilities provided to the Company amounting to ^ 15.40 Lakhs (Prev Year ^ 168.40 Lakhs).

b) Terms / Rights attached to Equity Shares

i) The Company has only one class of shares - referred to as - equity shares having a par value of' 10 per share. Each holder of equity shares is entitled to one vote per share.

ii) As per the Companies Act, 2013, in the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all the preferential amounts. However, no such preferential amounts exists currently. The distribution will be in the proportion to the number of equity shares held by the Shareholders.

iii) The Company declares and pays the dividend in Indian Rupees f). The payment of dividend is also made in foreign currency to the shareholders outside India. The final dividend proposed by the Board of Directors is subject to the approval of the shareholders in their ensuing Annual General Meeting (AGM), except in case of interim dividend.

Description of Nature and Purpose of the Reserves

Capital Reserve: The Capital Reserve was created out of the capital incentive received from the Sales Tax Department for the purpose of setting up manufacturing plants. The

a)

incentive is subject to certain terms and conditions, and any non - compliance with these conditions may result in the forfeiture of the incentive.

Equity Instruments through Other Comprehensive Income: This represents the cumulative gains or losses arising from the revaluation of equity instruments measured at fair

b)

value through other comprehensive income, under an irrevocable option, net of amounts reclassified to retained earnings upon disposal of such assets.

c) Retained Earnings: The Retained Earnings reserve represents the undistributed accumulated profits of the Company as at the reporting date of the financial statements.

Nature of Securities and Terms of Repayments

a) Hire purchase loans from banks and financial institutions are secured by way of hypothecation of the respective vehicles for which the funds were borrowed. These loans have been repaid in accordance ^w.th their respective repayment schedules provided by the banks and financial institutions, and generally carry interest rates ranging from 8.00 %o to 9.00 %o per annu^a.

b) Term loans from directors, promoters, and related parties are generally unsecured and are repayable on demand.

c) All loans from banks and financial institutions are further secured by the unconditional and irrevocable personal guarantees of two Directors, Shri Harish Agrawal and Shri Dinesh Agrawal.

Nature of Securities and Terms of Repayments

The overdraft facilities availed from Nagpur Nagrik Sahakari Bank Limited (NNSB) are secured by way of lien or pledge of term deposits currently held and to be held in the near future by the Company with NNSB. These credit facilities are further secured by the irrevocable personal guarantees of two Directors, Shri Harish Agrawal and Shri Dinesh Agrawal.

The Company has not received any memorandum, as required to be filed by the suppliers with the notified authority under the Micro, Small and Medium Enterprises Development Act, 2006, claiming their status as Micro, Small and Medium Enterprises as at March 31, 2025. Consequently, as informed by the management, the amount paid or payable to such parties during the current and previous reporting periods is ^ NIL.

Performance Obligations

Sales of Product: Performance obligation in respect of sales of goods is satisfied, when the controls of goods is transferred to the customers, generally on the delivery of goods and payment is generally due as per the terms of contract with the Customers.

Sales of Service: Performance obligation in respect of sales of services is satisfied, over a period of time and the acceptance from the customers. In respect of these services, payment is generally due upon the completion of services and acceptance from the customers.

The Company does not have any remaining performance obligations, as the contracts entered into for the sale of goods and rendering of services are of short-term duration.

26 Consolidated Financial Statements

During the current and previous reporting periods presented in these Ind AS financial statements, the Company did not have any subsidiaries, associates, or joint ventures. Accordingly, the disclosure requirements under Ind AS 110 - "Consolidated Financial Statements" are not applicable to the Company.

27 Corporate Social Responsibility

As per section 135 of the Companies Act, 2013, a company meeting the prescribed threshold criteria is required to spend at least 2% of its average net profits of the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. The areas of CSR activities include eradication of hunger and malnutrition, promotion of education, art and culture, healthcare, destitute care and rehabilitation, environmental sustainability, disaster relief, and rural development projects, as specified under Schedule VII of the Companies Act, 2013. A CSR Committee is required to be constituted to administer the CSR funds and ensure proper allocation and utilisation for the specified purposes. However, the Company does not meet the eligibility criteria specified under section 135 of the Companies Act, 2013, and accordingly, the provisions relating to CSR are not applicable for the current and previous reporting periods presented in the financial statements.

28 Segment Reporting

During the current and previous reporting periods presented in these Ind AS financial statements, the Company has operated under a single reportable segment, i.e., trading of Iron and Steel. Accordingly, the disclosure requirements under Ind AS 108 - "Operating Segments" are not applicable to the Company for the periods presented.

31 Dividend

During the current and previous reporting periods presented in these Ind AS financial statements, the Board of Directors of the Company has not declared any interim dividend at its respective meetings, in accordance with Section 123 of the Companies Act, 2013. Further, the Board of Directors has not proposed any final dividend at its meeting held on May 24, 2025, for the financial year ended March 31, 2025

22 Details of Hedge and Unhedged Exposures in Foreign Currency Denominated Monetary Items A) Exposure in Foreign Currency - Hedged

The Company has not entered into any forward exchange contracts to hedge its foreign currency exposures relating to underlying transactions and firm commitments. Further, the Company has not undertaken any derivative transactions for trading or speculative purposes during the current and previous reporting periods presented in these Ind AS financial statements.

B) Exposure in Foreign Currency - Unhedged

The Company does not have any unhedged foreign currency exposure as at the end of the current or previous reporting periods, either in the form of receivables or payables. Accordingly, the disclosure requirements in this regard are not applicable to the Company.

The Code of Social Security, 2020 (the"Code") relating to employee benefits during employement and postemployment benefits has received the Presidential assent on September 28, 2020. The Code has been published in the Offical Gazzate of India. However, the date on which the Code will come into effect has not 33 been notified and the final rules / interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. Based on the preliminary assessment, the entity believes the impact of such changes will not be significant.

The Company does not hold any quoted or unquoted debentures or bonds that are measured at Fair Value through Other Comprehensive Income (FVTOCI). Accordingly, the disclosure requirements under Ind AS 109 - "Financial Instruments: Recognition and Measurement", relating to such instruments, are not applicable to the Company for the reporting periods presented in the financial statements.

ii) Financial Instruments measured at fair value through profit or loss

The Company neither holds unquoted equity shares (other than investments in associates measured at amortized cost), nor foreign currency forward exchange contracts, nor quoted mutual funds that are required to be measured at Fair Value through Profit or Loss (FVTPL). Accordingly, the fair value disclosure requirements under Ind AS 109 - “Financial Instruments" are not applicable to the Company for the reporting periods presented in these financial statements. The Company holds certain unquoted equity instruments which, at initial recognition, were designated to be measured at amortized cost.

The Company does not have any financial liabilities that are measured at Fair Value through Profit or Loss (FVTPL). Accordingly, the disclosure requirements under Ind AS 109 - “Financial Instruments" relating to such liabilities are not applicable to the Company for the reporting periods presented in these financial statements.

iii) Financial Instruments measured at amortized costs

The carrying amounts of financial assets and financial liabilities measured at amortized cost in these Ind AS financial statements approximate their fair values, as the Company does not expect any significant difference between the carrying amounts and the amounts that would be received or settled in the normal course of business.

“Note No. - 35B" - Financial Risk Management - Objectives and Policies

The Company's financial assets primarily comprise loans, investments, security deposits, cash and cash equivalents, other bank balances, trade receivables, and other receivables arising directly from its business operations. The Company's financial liabilities primarily consist of loans and borrowings in Indian currency, retention money payable to vendors, trade payables, and other payables, which also arise directly from its business operations. The principal purpose of these financial liabilities is to finance the Company's operational activities and to provide guarantees in support of its business operations.

The Company is exposed to market risk, credit risk, and liquidity risk arising from its financial instruments. The Board of Directors oversees the management of these financial risks. The Company has a risk management policy, formulated by the management and approved by the Board, which outlines the Company's approach to addressing uncertainties in its efforts to achieve both stated and implicit objectives. The policy defines the roles and responsibilities of the management, the organizational structure for managing risks, and the overall risk management framework. This framework is designed to identify, assess, and mitigate financial risks to minimize their potential adverse impact on the Company's financial

performance. Based on the information and circumstances presented, the Board has taken all necessary actions to mitigate the identified risks

The following disclosures summarize the Company's exposure to 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.

1) 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 instruments affected by the market risk include the loans and borrowings in domestic currency, retention money related to vendors, trade payable, trade receivables and other payables.

a) Interest Rate Risk

Interest rate risk is the risk that the 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.

b) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash outflows of an exposure will fluctuate due to changes in foreign exchange rates. The Company operates only in domestic markets, hence the risk related to the foreign currency is not applicable in the case of the Company for all the reporting period presented under the financial statements.

c) Other Price Risk

Others price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market-traded price. Other price risk arises from financial assets such as investments in equity instruments. The Company is exposed to price risk arising mainly from investments in quoted equity instruments recognized at FVTOCI. As at March 31, 2025, the carrying value of such quoted equity instruments recognized at amounts FVTOCI amounts to ' 73.83 Lakhs (March 31, 2024'74.05 Lakhs). The details of such investments in quoted equity instruments are given in "Note No. 3".

The Company is mainly exposed to changes in market traded rate of its investments in quoted equity instruments recognized in other comprehensive income. A sensitivity analysis demonstrating the impact of change in market prices of these instruments from the prices existing as at the reporting date is given below:

If the equity prices have been higher / lower by 10% from the market price existing as at March 31, 2025, other comprehensive income (OCI) for the period ended would increase by ' 07.38 Lakhs (Previous Year ' 07.41 Lakhs) and decrease by ' 07.38 Lakhs (Previous Year ' 07.41 Lakhs) respectively with a corresponding increase / decrease in total equity of the Company as at March 31, 2025. 10% represents the management's assessment of reasonably possible changes in equity prices.

The Company is not exposed to price risk arising from investments in bonds recognized at FVTOCI.

2) Credit Risk

Credit risk refers to the risk that the counterparty will default on its contractual obligations resulting in financial losses to the Company. Credit risk arises primarily from financial assets such as trade receivables, cash and cash equivalents, other balances with banks and other financial assets with the Company.

The Company has adopted a policy of only dealing with counter parties that have sufficiently high credit rating. The Company's exposure and credit ratings of its counterparties are continuously monitored and the aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from term deposits and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognized financial institutions with high credit rating assigned by the international credit rating agencies.

The average credit period on sale of products ranges from 60 to 90 days. Credit risk arising from trade receivable is managed in accordance with the Company's established policy, procedures and control relating to customer credit risk management. The credit quality of a customer is assessed based on detailed study of credit worthiness and accordingly individual credit limits are defined / modified. The concentration on credit risk is limited due to the fact that the customer base is large. For trade receivables, as a practical expedient, 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 estimates. The provision matrix at the end of reporting period as follows:

3) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to sell a financial asset quickly at close to its fair value.

The Company has an established liquidity risk management framework for managing its short-term, medium-term and long-term funding and liquidity management requirements. The Company's exposure to liquidity risk arises primarily from mismatches of maturities of financial assets and liabilities. The Company manages the liquidity risk by maintaining adequate funds in the cash and cash equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there is sufficient cash to meet all its normal operating commitments in a timely and cost-effective manner.

The Company believes that its liquidity position {As at March 31, 2024 ' 24.88 Lakhs (Prev Year ' 196.24 Lakhs)}, anticipated future internally generated funds from operations and its fully available revolving undrawn credit facilities will enable it to meet its future known obligations in the ordinary course of business. However, if liquidity needs were to arise, the Company believes it has excess to financing arrangements, value of unencumbered assets, which should be unable it to meet its ongoing capital, and other liquidity requirements.

The liquidity position of the Company mentioned above, includes;

i) Cash and Cash Equivalents as disclosed in the Cash Flows Statements

ii) Current / Non - current term deposits as disclosed in the financial assets The Company's liquidity position monitored by the managements, includes;

i) Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met;

ii) Maintaining rolling forecasts of the Company's liquidity positions on the basis of expected cash flows;

iii) Maintaining diversified credit lines.

The below table analysis shows the financial liabilities of the Company into the relevant maturity grouping based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows:

"Notes - 35C” - Capital Management

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles;

a) Maintain the financial strength to ensure good rating domestically and Investment grade ratings internationally.

b) Ensure financial flexibility and diversify source of financing and their maturities to minimize liquidity risk while meeting investment requirements.

c) Ensure sufficient liquidity is available (either through cash and cash equivalents, investments or committed credit facilities) to meet the needs of businesses.

d) Minimize the finance costs while taking into consideration current and future industry, market and economic risks and conditions.

e) Safeguard its ability to continue as going as a going concern.

f) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance Sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environments, financial market conditions and interest rates environment.

The Board of Director of the Company has primary responsibilities to maintain a strong capital base and reduce the cost of capital through prudent management of deployed fund and leveraging in domestic and international financial market so as to maintain investors, creditors and market confidence and to sustain future development of the business.

For the purpose of the Company's Capital Management, capital includes issued equity capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

As at March 31, 2025, the Company has only one class of equity shares and has debts which is secured against the term deposits held by the Company as at the balance sheet date. Consequent to such capital structure, there are no externally imposed capital requirements in order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividend or reinvestment into business based on its long-term financial plans.

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.

(a) The repayment of short - term borrowings during the reporting period has impacted the Company’s Current Ratio.

(b) The reduction in debt as compared to the previous reporting period has impacted the Company’s Debt-to-Equity Ratio

(c) The improvement in profit during the current reporting period, as compared to the previous period, has positively impacted the Debt Service Coverage Ratio (DSCR).

(d) The improvement in profit during the current reporting period, as compared to the previous period, has positively impacted the Return on Equity Ratio.

(e) Better collection from receivables as compared to the previous reporting period has led to impact the Trade Receivable Turnover Ratio.

(f) Improved working capital management during the reporting period has impacted the Net Capital Turnover Ratio.

(h) The increase in deferred tax liabilities during the reporting period has impacted the Net Profit Ratio as compared to the previous reporting period.

(i) The shift from losses to profits as compared to the previous reporting period has impacted the Return on Capital Employed (ROCE).

Terms and Conditions with the transactions with Related Parties as under:

a) The Company has been entering into transactions with the related parties for its business purpose. The process followed for entering into transactions with these related parties are same as followed for unrelated parties. Vendor's are selected competitively having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantage in terms of;

i) Supplying products primarily to the Company

ii) Advanced and innovative technology

iii) Customization of products to suit the Company's specific performance;

iv) Enhancement of the Company's purchase cycle and assurance of just in time supply with resultant benefits - notably on working capital.

b) The sales to and purchases from the related parties are made on the terms as equivalents to those applicable to all unrelated parties on the arm's length transactions.

c) Outstanding balances of the related parties at the end of the reporting period are unsecured, interest free and will be settled in the cash on demand basis.

"Note No. 40 - Additional Regulatory Information as required by the Schedule - III of the Companies Act, 2013“

i) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken as at the balance sheet date. The Company has not defaulted, in the repayment of principal and interest thereon on all the loans obtained from banks and financial institutions during the reporting period and previous reporting period.

ii) The title deed in respect of self - constructed building and title deeds of all other immovable properties (other than properties where the Company is the lesssee and the lease agreements are duly executed in the favour of the Company), disclosed in the financial statement and included under the head of property, plants and equipments are held in the name of the Company as at the Balance Sheet date. In respect of the immovable properties taken on lease by the Company, the lease agreements are in the name of the Company as at the Balance Sheet date.

iii) There are no loans and advances in the nature of loans are granted to promoters, directors, key managerial persons and the other related parties including the subsidiaries, associates and joint ventures (as defined under the Companies Act, 2013), either severally or jointly with any other persons that are;

a) repayable on demand or;

b) without specifying any terms or period of repayments.

iv) The Company does not have benami property held in its name. No proceeding has been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the relevant Rules made thereunder.

v) The Company has been sanctioned working capital limit from bank and financial institutions on the basis of security of term deposits held by the Company as at the balance sheet date. Hence, the reporting in relation to the quarterly / monthly returns and the statements filed by the Company with such banks and financial institutions are in agreeements with the books of accounts of the Company is not applicable.

vi) The Company has not been declared as a willful defaulter by the banks and the financial institutions or other lenders or government or any government authorities.

vii) The Company has not entered any transactions with the companies struck off as per Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 2013, hence the details related to the same have not been furnished.

viii) The Company does not have any charges or satisfaction of charges which is yet to be registered with the Registrar of Company beyond the statutory period.

ix) The Company neither subsidiaries nor associates and nor joint ventures, hence the requirements with respect to the number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017 is not applicable.

x) Utilization of borrowed funds and share premium

1) 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 intermediaries shall:

a) 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;

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

2) The Company has not received any funds from persons or entities, including foreign entities (Funding Parties) 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 to or on behalf of the Ultimate beneficiaries.

xi) There have been no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the reporting period and previous reporting period in the tax assessments under the Income Tax Act, 1961.

xii) The Company has neither traded nor invested nor advanced in Crypto or Virtual Currency during the reporting period and previous reporting period.

The financial statements are approved for issue by the Audit Committee at its meeting held on May 24, 2025, and by the Board of Directors on their respective meeting held on May 24, 2025.

Previous years audited figures has been regrouped / recasted / rearranged wherever necessary to make them comparable for the purpose of preparation and presentation of the financial statements.