Where the entity has transferred an asset, the Company evaluates whether it has transferred substantially
all risks and rewards of ownership of the financial asset. In such cases, the financial asset is derecognised.
Where the entity has not transferred substantially all risks and rewards of ownership of the financial
asset, the financial asset is not derecognised.

Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of
ownership of the financial asset, the financial asset is derecognised if the Company has not retained
control of the financial asset. Where the Company retains control of the financial asset, the asset is
continued to be recognised to the extent of continuing involvement in the financial asset.

2.7 Income tax

The income tax expense or credit for the period is the tax payable on the current period’s taxable income
based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets
and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted
at the end of the reporting period in India where the company operates and generates taxable income.
Management periodically evaluates positions taken in tax returns with respect to situations in which
applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation
authority will accept an uncertain tax treatment.

The Company measures its tax balances either based on the most likely amount or the expected value,
depending on which method provides a better prediction of the resolution of the uncertainty.

Deferred income tax is provided in full, using the liability method, on temporary differences arising
between the tax bases of assets and liabilities and their carrying amounts in the standalone financial
statements. Deferred income tax is also not accounted for if it arises from initial recognition of an asset
or liability in a transaction other than a business combination that at the time of the transaction affects
neither accounting profit nor taxable profit (tax loss). Deferred income tax is determined using tax rates
(and laws) that have been enacted or substantially enacted by the end of the reporting period and are
expected to apply when the related deferred income tax asset is realised or the deferred income tax
liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it
is probable that future taxable amounts will be available to utilise those temporary differences and
losses.

Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current
tax assets and liabilities and where the deferred tax balances relate to the same taxation authority.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset
and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items
recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in
other comprehensive income or directly in equity, respectively.

2.8 Inventories

Cost of inventories for traded goods is computed on weighted-average basis. Inventories are stated at
lower of cost or net realisable value. The cost of stock-in-trade includes direct expenses.

Net realisable value is the estimated selling price in the ordinary course of business less any applicable
selling expenses.

2.9 T rade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of the
financial year which are unpaid. The amounts are unsecured and are usually paid within the agreed credit
days of recognition. Trade and other payables are presented as current liabilities unless payment is not
due within 12 months after the reporting period. They are recognised initially at their fair value and
subsequently measured at amortised cost using the effective interest method.

2.10 Revenue recognition policy

The Company accounts for a contract when it has approval and commitment from parties involved, the
rights of the parties are identified, payment terms are identified, the contract has commercial substance
and collectability of consideration is probable.

Revenue from the sale of goods is recognized at the point in time when control is transferred to the
customer - based on delivery terms, payment terms, customer acceptance and other indicators of control
as mentioned above.

The Company recognizes revenue in the gross amount of consideration when it is acting as a principal and
at net amount of consideration when it is acting as an agent. Revenue is measured based on the
transaction price, which is the consideration, adjusted for volume discounts, performance bonuses, price
concessions and incentives, if any, as specified in the contract with the customer. Revenue also excludes
taxes collected from customers.

Revenue from contract with customers is recognized when the Company satisfies performance obligations
by transferring promised goods to the customer. Performance obligations are satisfied at the point of time
when the customer obtains controls of the asset. Revenue is measured based on transaction price, which
is the fair value of consideration received or receivable, stated net of discounts, returns and value added
tax. Transaction price is recognized based on the price specified in the contract, net of the estimated
sales incentives/discounts. Accumulated experience is used to estimate and provide for the
discounts/right of the return, using the expected value method.

The Company assesses for the timing of revenue recognition in case of each distinct performance
obligation. The Company first assesses whether the revenue can be recognized over time as it performs if
any of the following criteria is met:

(a) The customer simultaneously consumes the benefits as the Company performs, or

(b) The customer controls the work-in-progress, or

(c) The Company’s performance does not create an asset with alternative use to the Company and the
Company has right to payment for performance completed till date.

If none of the criteria above are met, the Company recognizes revenue at a point-in-time. The point-in¬
time is determined when the control of the goods or services is transferred which is generally determined
based on when the significant risks and rewards of ownership are transferred to the customer. Apart from
this, the Company also considers its present right to payment, the legal title to the goods, the physical
possession and the customer acceptance in determining the point in time where control has been
transferred.

2.11 Interest income

Interest income from financial assets at fair value through profit or loss is disclosed as interest income
within other income. Interest income on financial assets at amortised cost and financial assets at FVOCI is

calculated using the effective interest method is recognised in the statement of profit and loss as part of

other income.

2.12 Earnings per share

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to equity shareholders of the Company

• by the weighted average number of equity shares outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year.

(ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to

take into account:

• the after income tax effect of interest and other financing costs associated with dilutive potential
equity shares, and

• the weighted average number of additional equity shares that would have been outstanding assuming
the conversion of all dilutive potential equity shares.

Liability Risks

Asset-Liability Mismatch Risk-

Risk which arises if there is a mismatch in the duration of the assets relative to the liabilities. By matching duration with the defined benefit
liabilities, the company is successfully able to neutralize valuation swings caused by interest rate movements. Hence companies are
encouraged to adopt asset-liability management.

Discount Rate Risk-

Variations in the discount rate used to compute the present value of the liabilities may seem small, but in practise can have a significant
impact on the defined benefit liabilities.

Future Salary Escalation and Inflation Risk -

Since price inflation and salary growth are linked economically, they are combined for disclosure purposes. Rising salaries will often result in
higher future defined benefit payments resulting in a higher present value of liabilities especially unexpected salary increases provided at
management's discretion may lead to uncertainities in estimating this increasing risk.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. However the Company does not have any financial instruments that are
measured using Level 1 inputs.

Level 2: The fair value of derivatives is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

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

ii) Fair value of financial assets and liabilities measured at amortised cost

The fair value of all financial instruments carried at amortised cost are not materially different from their carrying amounts, since they are either short-term in
nature or the interest rate applicable are equal to the current market rate of interest.

The Company’s principal financial liabilities comprises of borrowings, lease liabilities , trade and other payables (including capital creditors). The main purpose of these
financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include loans given, trade and other receivables, and cash and cash
equivalents that are derived directly from its operations.

The Company is exposed to the following risks from the use of financial instruments:

(a) credit risk,

(b) liquidity risk, and

(c) market risk,

(i) foreign currency exchange risk, and

(ii) interest rate risk.

The Company’s senior management oversees the management of these risks. The Company’s financial risk activities are governed by appropriate policies and procedures and
financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The Board of Directors reviews and agrees policies for
managing each of these risks, which are summarized below.

(a) Credit Risk

The Company is exposed to credit risk as a result of counterparties defaulting their obligations. The Company's exposure to credit risk primarily relates to trade receivables.

The Company monitors and limits its exposure to credit risks on a reasonable basis. The Company's credit risk is associated with Trade Receivables is primarily related to
customers not able to settle their obligations as agreed upon. To manage this, the Company periodically reviews the financial reliability of its customers, taken into account
their financial conditions, current economic trends, analysis of historical bad debts and ageing of trade receivables.

Financial instruments that are subject to such risks, principally consist of trade receivables,contract assets such as security deposits and cash and bank balances. None of the
financial instruments of the Company results in material concentration of credit risk.

(b) Liquidity Risk

The Company is exposed to liquidity risk related to its ability to fund its obligations as and when they become due. The Company monitors and manages the liquidity risk to
ensure access to sufficient fund to meet operational and financial requirements. The Company has access to credit facilities and monitors cash and bank balances on a regular
basis. In relation to the Company's liquidity risk , the Company's policy is to ensure that it will have sufficient liquidity to meet its liabilities when due, under both normal and
stressed conditions without incurring unacceptable losses.

The table below analyzes the Company's financial liabilities into relevent maturity groupings based on their contractual maturities.

Reasons for Change more than 25% from previous year

1) Current Ratio: Decrease in current ratio due to substantial increase in current liabilities as compared to current assets.

2) Debt-Equity Ratio & Debt Service Coverage Ratio : Increase in these ratios is due to loans and borrowings during the current year.

3) Return on Equity Ratio : Return on equity has decreased on account of substantial decrease in profits of the company during the year.

4) Trade Receivables turnover ratio : Decrease in trade recievable ratio is due to substantial increase in outstanding balance of trade recievables of the company.

5) Trade Payable turnover ratio : Increase in trade payable ratio is due to substantial increase in purchases and decrease in outstanding balance of trade payables of the company.

6) Net capital turnover ratio: Increase in the ratio is on account of substantial increase in sales of the company.

7) Net profit ratio : Decrease in the ratio is due to substantial decrease in the profits of the company.

8) Return on capital employed: Increase in return on capital employed is on account of significant increase in EBIT during the year.

36 Capital Management

For the purpose of the Company’s capital management, capital includes issued equity share capital and all other equity reserves
attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to ensure that it
maintains a strong credit rating in order to support its business activities and maximize brand value.

The Company manages its capital and makes adjustments to it in light of the changes in economic and market conditions.

37 Micro, Small and Medium Enterprises Development Act, 2006

As per the information available, the management has not received information from some of their suppliers for the year ended 31
March, 2025 confirming that they are covered under Micro, Small and Medium Enterprises Development Act, 2006. In Management’s
view, the impact of any interest that may be payable (in accordance with the provisions of the Micro, Small and Medium Enterprise
Development Act, 2006) on delayed payments to its micro or small suppliers is not expected to be significant.

38 Segment Information

As the Company's business activities fall within a single primary business segment viz. auto components for two wheeler and for three
wheeler industry, the disclousure requirement of Indian Accounting standard (IND AS- 108) "Operating segments" are not applicable.

39 Additional Regulatory Disclosures As Per Schedule III Of Companies Act, 2013

i) There are no Immovable Property in the name of company during the year.

ii) The Company does not have any Benami property, where any proceedings has been initiated or pending against the Company for
holding any Benami property.

iii) The company has not been declared wilful defaulter by bank or financial institution or government or any government authority.

^iv) The Company does not have any transactions with the Struck off Companies as per section 248 of the Companies Act, 2013 or section
560 of Companies Act,1956, during the current year and in the previous year.

v) Compliance with number of layers of companies - Not Applicable as the Company has complied with the number of layers prescribed
under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

vi) Compliance with approved Scheme(s) of Arrangements - Not Applicable as the Company has no Scheme of Arrangements that has been
approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

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

viii) There were no whistle blower complaints received by the Company during the year.

ix) The Company does not have any such transaction which is not recorded in the books of accounts that have been surrendered or
disclosed as income during the year in the tax assessments under the Income-tax Act, 1961.

x) The Company does not have any intangible assets under development, whose completion is overdue or has exceeded its cost compared
to its original plan.

^xi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary 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) Provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xii) 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:

(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) Provided any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

xiii) The Company does not have any charges or satisfaction which is yet to registered with ROC beyond the statutory period.

40 Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year's
classification.

For Shah Khandelwal Jain & Associates For and on behalf of the Board of Directors of

Chartered Accountants For MKP Mobility Limited

Firm No.: 142740W CIN: L50100PN1990PLC242336

Ashish Khandelwal Jitesh Mahendra Patodia Aanjan Jitesh Patodia

Partner Managing Director Director

Membership No.: 049278 DIN: 09700718 DIN: 09813961

Place : Pune Place : Pune Place : Pune

Date: 30-05-2025 Date: 30-05-2025 Date: 30-05-2025

Aditi Waikar Saheb Dumbwani

Chief Financial Officer CS & Compliance officer

Place : Pune Place : Pune

Date: 30-05-2025 Date: 30-05-2025