The company has only one class of shares viz. equity shares having a par value of Rs.10/- each as above. All equity shares, in present and in future, rank pari passu with the existing equity shares of the company and each shareholder is entitled to one vote per share.

(ii) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

1. On 20th January, 2024 company issued equity shares of the company to respective shareholders , The face value of the security was Rs. 10/- per share, Security premium received by the company was Rs. 130.40/- per share.

2. Manan Brahmbhatt was classified as promoter w.e.f. 12.03.2024, hence it is dassifed as Promoter Holding

Deferred Government Grant Amounting 5,89,526/- denotes the amortization of the grant Received from the government against the depreciable assets (i.e building and Plant and machinery) which has been amortized during the tenure of depreciable asset in proportion to the depreciation rate charged on the assets as per the provisions of AS-12 "Government Grants".

Nature of Reserve and Surplus Securities Premium

On 20th January, 2024 company issued equity shares of the company to respective shareholders, The face value of the security was Rs. 10/-per share, Security premium received by the company was Rs. 130.40/- per share.

Other Reserves

Other Reserve include the subsidy received from government against the purchase of non depreciable asset amounting to Rs. 2,14,653/-and the balance 45,22,812/- is related to the subsidy received against the purchase of depreciable assets of the company.

1. Term Loan are Primarily secured against Inventories, Trade Receivable less than 90 days .Fixed Deposit margin for Bank Guarantee and Letter of Credit and Plant and Machinery.

2. Secondary Colletral for Term Loan are Personal Guarantee of Directors,Security Owners and Shareholders upto 75%, Fixed Deposit margin for Bank Guarantee and Letter of Credit.The above mentioned are the group of assets that have been provided as a security to obtain Term loan.

3. The amount disclosed in term loan from bank reflect the long term maturity of long term borrowings, Corresponding current maturity of such borrowings are disclosed in short term borrowings.

4. The company has not defaulted in the repayment of any borrowings as on 31st March, 2024.

5. The above mentioned monthly installments includes principal and interest repayment.

1. The provision related to gratuity and leave encashment has been created as per the valuation report received by the government approved actury Jayesh D Pandit (04517).

2. Provision for doubtful debts include balance of Rs 5,23,825/- receivable from debtors but are doubtful and RS 56,46,402/- receivable on account of community contribution deducted by various government institution the receipt of which has been considered doubtful by the management.

3. The company had provided warranty to its customer for future services of repair and maintenance for the damages to the product supplied by the company, The amount of provision created by the company has been estimated by the management of the company and is as per industry specifics and is true and correct, and as per the relevant accounting standard and using the matching concept the same is realized over the period of warranty.

1. Current maturities of long term borrowings represents the maturity of term loan taken from HDFC bank within a period of one year from the reporting date.

2. The company has availed the services of Bill discounting against the letter of credit from shinhan bank and hence the same is stated as a short term borrowings.

3. Secured Other Loans and Advances represent the loan taken by the company from INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED to finance the working capital requirements for the project undertaken by the company under PM KUSUM B YOJNA.

* Securities Stipulated are as follows :

1. BG/FD Equivalent to 5% of the loan amount.

2. Second charge on all immovable assets of the company, both present and future.

3. Exclusive charge by way of hypothecation of current assets created out of IREDA short term loan facility till delivery of the project site.

4. personal guarentee of main promoter Mr. Pramit Bhrambhatt. *

5. Conditional assignment by way of undertaking of LOI and al the rights, title, interest, benifits, claims and demands.

6. Demand promissiory note for the entire facility amount by the borrower.

7. NSCH mandate for total loan and interest till terminal date.

8. Escrow agreement for the deposits of payment form DISCOM of gujarat and treada for tripua.

9. Consent letter from GUJARAT DISCOM and TREDA for depositing payments to be released against the project implimentation in the designated escrow account as per IREDA requirement.

4. The Cash Credit faciltiy obtained from HDFC bank is secured by stock , debtors less than 90 days , FD margin for bank guarentee and letter of credit, Plant and Machinery. The credit facility obtained from HDFC bank amounts to Rs.10 crore having interest rate of 9.5% p.a.

5. All the facilities except vehicle loans extended by HDFC Bank is secured against the guartentee given by the guarantors i.e Varna Pramit Brahmbhatt,Ramila Bharatkumar Brahmbhatt,Pramit Bharat Brahmbhatt.

Uhe company has begun the supplier identification process in accordance with the MS MED Act 2006. However, the categorization breakdown between entities felling under the MSME classification and others has not been furnished. Given the absence of any correspondence from creditors we have presumed it to be non MSME.

2. Balance of Trade payable are subject to confirmations and unsecured; considered good by the management

3. Trade payable Ageing Schedule provided by Management is believed to be accurate and reliable

4. The company has not provided for interest on the dues payable to MSME creditors.

1.Interest accrued and due on borrowings represent the liability of the company to pay the interest on long term borrowings of the company that has been due for the payment but the due date for the payment is not within the period of financials and hence shown as other current liability as on 31st March, 2024

2. Advance from customer includes trade advance of Rs 4,98,64,663/- received by the company for the sale of its product and services to veracity powertronics private limited (Subsidiary Company) , As per the agreement entered with the company this services are to be provided upto 31st May, 2024.

3. Deferred income for installation and commissioning reflect the income which has been booked in the current year however the services with respect to such income has not been provided yet and hence the same has been deferred.

1. The provision related to gratuity and leave encashment has been created as per the valuation report received by the government approved actury Jayesh D Pandit (04517).

2. Provision for expenses include an expense booked of Rs. 1,00,20,000/-, This provision is booked because we have booked the revenue with respect to this services provided to Dakshin Gujrat Vij Company Limited however the expense bill with respect to this revenue is not yet received , Hence to comply with matching concept as per accounting standards we have booked the provision for expense as per managments estimation.

1. Zilla parishad nandurbar deposit - The company has been alloted a tender by maharashtra state electricity distribution company limited for empanelment and design, maufacture, transport installation, testing and commissioning off-grid solar photovoltaic water pumping systems. As a part of the payment made by maharashtra state electricity distribution company for the services procured they keep a security deposit which is disbursed to the company once the project is completed, and hence the company has booked such deposit as other current assets.

I.The company is not required to book any unbilled revenue during the period unlike for the previous year F.Y-2022-23, The revenue booked by the company for the year ended 31 st march, 2024 is in accordance with the provision of AS-9 i.e Revenue Recognition.

• 2. The company is engaged in providing services related to solar pannels and its installation , This services are also provided to the government department by the company as per the tender alloted to them , The company raises the invoice for the work completed , however while making the payment government department retains a percentage of the invoice value (i.e a component of both taxable as well as GST value) and the same is disbursed when the work is completed by the company in accordance with the tender alloted, and hence in other current asset the company has booked ' Retention" as these amount are yet to be received from the goverment

3. With respect to the ‘ Deferred TDS receivable and TDS GST Receivable", The company is engaged in providing sendees related to solar pannels and its installation, This services are also provided to the government department by the company as per the tender alloted to them , The company raises the invoice for the work completed on accrual basis and book TDS receivable for the sales made by them , However government deduct the TDS on invoice value (i.e on taxable as well as GST amount) and deposit the same as per payment basis ,and hence there is a timing difference in this due to which this cannot be reconcilled with 26AS and hence booked as deferred TDS receivable.

4. With respect to community contribution disclosed In financials : The company is engaged in providing services related to solar pannels and its installation, This services are also provided to the government department by the company as per the tender alloted to them, The company books the revenue for the amount of work done by the company however the client makes the payment after deducting a part for community contribution and hence the company books this as other current asset Also the receipt of this amount is contingent as per the managments representation and based on this company has also created provision for doubtful debt with respect to the same.

1. As on 31st March, 2023 the inventory has been valued at cost

2. As on 31st March, 2024, Raw materials, stores and Spares are valued at cost and net of credits under scheme under GST rules. Finished Goods and Traded Goods are valued at Cost or Market Value/Contract Price Whichever is lower.Cost of inventories comprises of cost of purchase, cost of conversion and other costs including manufacturing overheads net of recoverable taxes incurred in bringing them to their respective present location and condition. Fixed, variable and other overheads are allocated to the product on the basis of turnover.

3. During the period under review there is no work in progress as on 31st March, 2024.

4. As on 31st March, 2024 the valuation of inventory has been done by Mayur Chhaganbhai Undhad 8t Co. cost accountants, the valuation of inventory has been believed to be true and correct

I.Sahaj Solar Limited has provided corporate guarantee for the cash credit facility amounting to Rs 1,35,00,000 and working capital facility amounting to Rs 65,00,000 obtained by Veracity Energy and Infrastructure Private Limited (Subsidiary of Sahaj Solar LimitedJ.Such guarantee is provided along with Pramit Brahmbhatt Brahmbhatt Pramit HUF and Kanaksinh Gohil.

2.Sahaj Solar Limited has provided corporate guarantee for the CGTMSE Facility amounting to Rs 2,51,28,975 obtained by Veracity Powertronics Private Limited (Subsidiary of Sahaj Solar Limited) along with Veracity Energy & Infrastructure Private Limited .along with Pramit Brahmbhatt and Manan Brahmbhatt

3 Claim against the company not acknowledged as debt comprises of Interest amount on delayed payment to disputed MSME Supplier.The case is pending at MSME Co mm issionerate,Gandhinagar for Adjudication.

4 In relation to Custom duty related to export obligation, Rs. 108 39 lacs is the amount of duty saved in relation to which company was supposed to achieve total export obligation of $10,52,060 (Rs. 672.62 lacs) against which the company had already executed exports amounting to $10,17,795 (Rs. 669.70 Lacs) till the date of signing of restated financial statements. Company is into the process of getting Export Obligation Discharge Certificates (EODQ for the licenses wherein prescribed export obligation is duly achieved. For the balance export obligation, the company may or may not be required to pay duty amount along with applicable interest

5. Indirect Tax Demand relates to GST Demand us 73(5) for FY 2019-20 notice dated 19.04.24

1. Increase in the debt equity ratio is due to the loan taken by the company from INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY which has significantly increased the debt of the company as on 31 st March, 2024 as against the increase in the shareholders fund.

2. The increase in the return on equity ratio is attributable to the fact that wrt to the last year companies profit has increased significantly and the ratio of change in profit is not proportionate to the change in average shareholders equity.

3. The decrease in the trade receivable turnover ratio is because the company is able to realize the trade receivable in the credit period allowed.

4. The decrease in the trade payable turnover ratio is because the company is able to meet its obligation for payment of trade payables within due time.

5. The decrease in the net capital ratio is due to the working capital loan raised by the company from IREDA and also there is increase in the cash credit facility from HDFC bank. However increase in turnover as compared to previous year is not in proportion to increase in working capital from previous year.

6. The increase in the net profit ratio is due to following reasons:

A) The cost of raw materials have reduced significantly as compared to previous years

B) The company has increased the sales price per unit per product during the current year as compared with previous year and overall margin to cost has increased.

7. The decrease In capital employed is due to the loan taken by the company from INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY which has significantly increased the debt of the company and also there is increase in the cash credit from HDFC Bank which has significantly increased the capital employed

Nature of CSR activities

The company has made the payment of CSR to Green Hub Foundation (Trust), Which is engaged to promote, Encourage , Aid and organize and assist in agricultural, horticulture, herbal, organic composting and other sciences , To advance the cause of education and promote the learning of all aspects of mral/urban development

40 Regrouping

Previous years figures have been regrouped/reclassified wherever necessary to correspond with current year's classification and disclosures.

41 Opeining Balances

The predecessor auditor audited the financial statements for the preceding period. The opening balances are derived from the dosing balances of the prior period, encompassing the impacts of transactions and events from earlier periods, as well as the application of accounting policies used in the preceding period.