a) Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 3/- per share. Each holder of Equity Shares is entitled to onevote per share. The dividend if proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

b) 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 preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

(iii) Other Comprehensive Income ('OCI'):- Nil (previous year Nil)

The Description of the nature and purpose of each reserve within equity is as follows:

a) Securities Premium

Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013

b) Retained Earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to dividends or other distributions paid to shareholders.

The Company recognises change on account of remeasurement of the net defined benefit liability (asset) as part of retained earnings with separate disclosure, which comprises of:

(a) actuarial gains and losses; and

(b) return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset).

28 Critical accounting estimates and judgments

The estimates and judgements used in the preparation of the said financial statements are continuously evaluated by the Company, and are based on historical experience and various other assumptions and factors (including expectations of future events), that the Company believes to be reasonable under the existing circumstances. The said estimates and judgements are based on the facts and events, that existed as at the reporting date, or that occurred after that date but provide additional evidence about conditions existing as at the reporting date.

Although the Company regularly assesses these estimates, actual results could differ materially from these estimates - even if the assumptions under-lying such estimates were reasonable when made, if these results differ from historical experience or other assumptions do not turn out to be substantially accurate. The changes in estimates are recognised in the financial statements in the period in which they become known.

The areas involving critical estimates, assumptions or judgments are:

1. Useful lives of property, plant and equipments Note 4

2. Useful life of intangible asset Note 5

3. Measurement defined benefit obligation Note 29

4. Estimation of contingent liabilities & provisions refer Note 30 & 31

Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Company and that are believed to be reasonable under the circumstances.

29 During the year, Company has recognised the following amounts in the financial statements as per Ind AS - 19 "Employees Benefits" issued by the ICAI :

(b) Defined Benefit Plan:- Gratuity

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving riseto additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

(a) A former employee, Mr. Kamal Sharma has filed a summary suit under Order 37 of the Civil Procedure Code (CPC) against Meyer Apparel Limited (Givo Limited) for the recovery of salary dues.The suit is currently pending adjudication before the appropriate court.However, in view of the legal nature of the dispute and pending final judgment, it is disclosed as a contingent liability amount of Rs 9.28 Lakhs.

The matter was adjudicated by the Hon’ble Civil Judge (Junior Division), Gurugram vide judgment dated January 30, 2026, whereby the suit was partly decreed in favour of the plaintiff for an amount of Rs. 4.14 Lakhs along with interest @ 9% per annum from the date of filing of the suit till realization, while the balance claims were dismissed.

The Company has filed an appeal against the said order before the Hon’ble Sessions Court and the matter is presently sub-judice

(b) Image Design has filed a civil suit against Meyer Apparel Ltd. for the recovery of project-related dues allegedly arising from renovation work undertaken at the "Efficient Enterprises” store. The plaintiff has claimed outstanding payments for services rendered under the said project. The company is contesting the claim and believes it has valid grounds in its defense. Based on legal opinion, the management considers the possibility of an adverse ruling as uncertain. However, in accordance with applicable financial reporting standards, the matter has been disclosed as a contingent liability amount of Rs 11.59 Lakhs.

(c) Panchanan International has filed a civil suit for recovery of commission dues against Meyer Apparel Ltd. The suit arises out of alleged non-payment of commission pertaining to business transactions between the parties.Panchanan International has filed a civil suit for recovery of commission dues against Meyer Apparel Ltd. The suit arises out of alleged non-payment of commission pertaining to business transactions between the parties. Based on legal advice and the merits of the case, the management is confident in its position and is actively contesting the claim. Nevertheless, in view of the ongoing litigation and in accordance with applicable accounting and disclosure norms, the claim has been classified as a contingent liability amount of Rs. 4.20 Lakhs.

(ii) The Company’s pending litigations comprise of claims against the Company and proceedings pending with Tax Authorities . The Company has reviewed all its pending litigations and proceedings and has made adequate provisions, wherever required and disclosed the contingent liabilities, wherever applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a material impact on its financial position.

(iii) The Company periodically reviews all its long term contracts to assess for any material foreseeable losses. Based on such review wherever applicable, the Company has made adequate provisions for these long term contracts in the books of account as required under any applicable law/accounting standard.

(iv) As at March 31, 2026 the Company did not have any outstanding term derivative contracts.

As at March As at March 31,

Capital Commitments 31,2026 2025

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Nil Nil

31 The Company is in appeal and made the provisioning of the custom duty demand of Rs. 2,960.03 lakhs including interest, penalty and other charges thereon in the financial year ending March 31, 2016 (previous year 2,960.03 lakhs) pertaining to the year 1994-95 before the Hon'ble Supreme Court of India. As matter is sub-judicial final liability would be determined on the disposal of said appeal.

33 Segment Reporting

The Company's operatingsegments are established onthe basis of thosecomponents ofthe Companythat are evaluated regularly by the Chief Operating Decision Maker (as defined in Ind AS 108 - 'Operating Segments') in deciding how to allocate resources and in assessing performance. These have been identified taking into account nature of products and services, the differing risks and returns and the internal business reporting systems. The Company has only one operating and reporting segment, which is manufacturing and dealing in Readymade Garments/Textile. Accordingly, the amounts appearing in these financial statements relate to this primary business segment. Further, the Company trade only in India and accordingly, no disclosures are required under secondary segment reporting.

1. Fair Value measurement

Fair Value Hierarchy and valuation technique used to determine fair value :

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 are categorized into Level 1 , Level 2 and Level 3 inputs.

Significant estimates

The fairvalueof financial instrumentsthat arenottradedin anactive marketis determinedusingvaluationtechniques. The Company usesits judgmentto selectavarietyof methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period.

35 Financial risk management objectives and policies

The Company’s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables, and financial guarantee contracts. The main purpose of these financial liabilities is to finance the Company’s operations and to provide guarantees to support its operations. The Company’s principal financial assets include loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations.

The Company’s business activities expose it to a variety of financial risks, namely liquidity risk, market risks and credit risk. The Company's senior management has the overall responsibility for the establishment and oversight of the Company's risk management framework. The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's activities.

MANAGEMENT OF LIQUIDITY RISK

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The Company’s approach to managing liquidity is to ensurethat itwill have sufficient fundsto meetits liabilitieswhen duewithout incurringunacceptable losses. In doingthis, managementconsiders bothnormal and stressed conditions.

Market Risk

Marketrisk isthe riskthatthe fairvalue of future cash flows ofafinancial instrumentwill fluctuate because of changes in marketprices. Marketrisk comprisesthree typesof risk: interest rate risk, currency risk and other price risk, such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, FVTOCI investments.

Credit Risk

Credit risk is the riskthat counterparty will not meet its obligations under a financial instrument or customer contract, leadingto a financial loss. The Company is exposedto credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and other financial instruments.

Trade Receivables

Customer credit risk is managed by each business unit subject to the Company established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on an individual basis for major clients. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 7. The Company does not hold collateral as security. The Company evaluates the concentration of riskwith respectto trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the management in accordance with the Company’s policy. Counterparty credit limits are reviewed by the management on an annual basis, and may be updated throughout the year. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure to make payments.

The Company’s maximum exposure to credit risk for the components of the balance sheet at 31 March, 2026 and 31 March, 2025 is the carrying amounts as illustrated in Note 8.

Capital management

Capital includes issued equity capital and share premium and all other equity reserves attributable to the equity holders. The primary objective of the Company’s capital management is to maximize the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.

36 The Company has incurred loss of Rs. 78.80 lakhs (previous year Rs. 106.78 lakhs) during the year and has accumulated losses of Rs.6,296.12 Lakhs (Previous year Rs.6,218.07 Lakhs) as at March 31, 2026 resulting in, the erosion of its net worth and has current liabilities in excess of currentassets by Rs. 3,356.10 Lakhs as at March 31, 2026 (Previous year Rs. 3,278.81 Lakhs). The ability of the Company to continue as a going concern is substantially dependent on its ability to generate the funds form its continuing business and the management in view of its business operation and explore other avenues, is confident of generating cash flows to fund the operating and capital requirements of the Company. Accordingly, these statements have been prepared on a going concern basis.

³⁸ Current Tax and Deferred Tax

In absence of any taxable income, no provision for the current tax has been made. Also, in view of losses and unabsorbed depreciation, considering the grounds of prudence, deferred tax assets is recognized to the extent of deferred tax liabilities and balance deferred tax assets have not been recognized in the books of accounts.

39 The Company has applied for permission of Reserve Bank of India (RBI) through the authorized Bank for repayment of the advances against exports which were received by the company from an overseas buyer M/sTrust Export PTE Ltd in which RBI approval is yetto be received. As per the letters received from the overseas buyers the sum of Rs. 332.65 lakhs was required to be repaid within one month from the date of RBI approval, failing which the interest would also be required to be paid from the date of receiptofadvancestill the dateof repayment. However pendingthe approval of RBI,the Overseas buyer haveagreed to waive offthe intereston pendingamount till getting the approval from RBI, accordingly no provision has been made for interest during the year.

40 In the opinion of the Board and to the best of their knowledge and belief, the value of realization in respect of the Current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and the provision for all known and determined liabilities is adequate and not in excess of amount reasonably required.

## Disaggregation of Revenue

The Company’s primary business segment is manufacturing of readymade garments. Revenue from contract with customers is from sale of Rs.8.70 lacs. Sale of goods are made at a point in time and revenue is recognised upon satisfaction of the performance obligations which is typically upon dispatch / delivery. The Company has a credit evaluation policy based on which the credit limits for thetrade receivables are established. There is no significant financing component as the credit period provided by the Company is not significant.

Information about major customers

1 customer has more than 10% of the Company’s revenue from operations total 84.14% for the year ended March 31, 2026.

2 customer has more than 10% of the Company’s revenue from operations total 99.29% for the year ended March 31, 2025.

## Other Statutory Information

i) The Company does not have any Immovable Property whose title deeds are not held in the name of the Company.

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

iii) The Company has not advanced any loans or advances in the nature of loans to specified persons viz. promoters, directors, KMPs, related parties; which are repayable on demand or where the agreement does not specify any terms or period of repayment.

iv) The Company has not obtained any borrowings from banks or financial institutions on the basis of security of current assets.

v) The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a willful defaulter at any time during the financial year or after the end of reporting period but before the date when financial statements are approved.

vi) 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) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

vii) 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) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

viii) The Company does not have any transactions with struck-off companies.

ix) The Company does not have any transaction which is not recorded in the books of accounts but has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

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

xi) The Company has complied with the number of layers prescribed under clause (87) of section 2 ofthe CompaniesAct, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

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

xiii) The Company has not revalued it's property plants and equipments or intangible assets or both during the current year and previous year.

xiv) The Company does not have any investment in properties.

xv) The Company has not filed any scheme of arrangements in terms of section 230 to 237 of the Companies Act, 2013 during the year.

## (i) Figures for the previous year has been regrouped/rearranged wherever necessary to confirm current year classification / presentation. (ii) Figures representing 0.00 lakhs are below Rs.500/-