2.13 Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the company has present determined obligations as a result of past events and an outflow of resources
embodying economic benefits will be required to settle the obligations. Provisions are recognised at the best estimate of the expenditure
required to settle the present obligation at the balance sheet date.

If the effect of the time value of money is material, provisions are discounted using a current pre tax rate that reflects, where appropriate, the
risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance
cost.

A Contingent liability is not recognised but disclosed in the notes to the accounts, unless the probability of an outflow of resources is
remote.

2.14 Earnings per share

The Basic earnings per share (EPS) is calculated by dividing the net profit or loss for the year attributable to the equity shareholders by the
weighted average number of equity shares outstanding during the year.

For the purpose of calculating Diluted earnings per share, the net profit or loss for the year attributable to the equity shareholders and the
weighted average number of equity shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

2.15 Exceptional items

Exceptional items refer to items of income or expense within statement of profit and loss from ordinary activities which are non-recurring
and are of such size, nature or incidence that their separate disclosure is considered necessary to explain the performance of the company.

2.16 Impairment of assets

The company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when
annual impairment testing for an asset is required, the company estimates the asset’s recoverable amount. An asset’s recoverable amount is
the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and its value in use. Recoverable amount is
determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or
groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is
written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a 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.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of profit and loss.

2.17 Leases

Company as a leasee

A lease is classified at the inception date as a finance lease or an operating lease.

A lease that transfers substantially all the risks and rewards incidental to ownership to the company is classified as a finance lease. Finance
leases are capitalised at the commencement of the lease at the inception date at the fair value of the leased property or, if lower, at the
present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability
so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognised in finance costs in the
statement of profit and loss.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the company will obtain

ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term.

Leases in which a significant portion of the risks and rewards of ownership are not transferred to the company are classified as operating
lease. Operating lease payments are recognised as an expense in the statement of profit and loss on a straight-line basis over the lease term,
unless the payments are structured to increase in line with expected general inflation.

Company as a lessor

Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease, unless the receipts are
structured to increase in line with expected general inflation.

2.18 Critical accounting estimates
Property, plant and equipment

The charge in respect of periodic depreciation of property, plant & equipment is derived after determining an estimate of an asset’s
expected useful life and the expected residual value at the end of its life. The useful lives and residual values of company's assets are
determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are
based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in
technology.

RecoverabilityofTradeReceivable and provision forthe same

Judgements 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. The provision for debtors is done for those
debtors which are outstanding for more than three years.

a) Capital Reserve

These reserve represents the gains arising out of forfeiture of shares.

b) Securities Premiem Reserve

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

c) General Reserve

The General reserve is used from time to time for transfer of profits from Surplus in Statement of Profit and Loss
for appropriation purposes.

e) Equity Investment Reserve

This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other
comprehensive income, net off amounts reclassified to retained earnings when those assets have been disposed off.

Management estimations and assumptions

a) The management assessed that cash and cash equivalents, trade receivables, trade payables, bank overdrafts and other current liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments.

b) The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to
estimate the fair values:

(i) The fair values of the unquoted mutual funds are based on NAVs at the reporting date.

(ii) The fair values of the quoted equity shares have been determined based on price quotations as on reporting date approach for
determining the fair values.

Level 1: Quoted Prices in active markets for identical assets or liabilities

Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices)
or indirectly (i.e. derived from prices).

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The company’s policy is to recognize transfers into and the transfers out of fair value hierarchy levels as at the end of the reporting period.
There are no transfers between level 1 and level 2 during the end of the reported periods.

12.3 Financial Risk Management

The Company’s principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities is to finance
the Company’s 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 activities expose it to various financial risks: market risk, credit risk and liquidity risk. The company tries to foresee the
unpredictable nature of financial markets and seek to minimise potential adverse impact on its financial performance. The senior
management of the company oversees the management of these risks. It is supported by a risk management committee that advises on
financial risks and the appropriate financial risk governance framework for the Company. The risk management committee provides
assurance to the Company’s senior management that the Company’s financial risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives.
The Audit Committee has additional oversight in the area of financial risks and controls. It is the Company’s policy that no trading in
derivatives for speculative purposes may be undertaken.

13 CAPITAL MANAGEMENT

The following are the objectives of Capital management policy of the company:

(a) Safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other
stakeholders, and

(b) Maintain an optimal capital structure to reduce the cost of capital

As a part of capital management strategy, the company may adjust the amount of dividends paid to shareholders, issue new shares, raise
debt capital or sell assets to reduce debt. The company monitors capital basis a gearing ratio which is calculated by dividing the total
borrowings by total equity. The company’s strategy is to maintain a gearing ratio lower than 30%. In order to achieve this overall objective,
the company ensures to meet its financial covenants attached to the interest bearing loans and borrowings. There have never been any
breaches in financial covenants of any interest bearing loans and borrowings in the past and also in the current period.

14 SEGMENT INFORMATION

In accordance with Indian Accounting Standard 108 "Operating Segments" prescribed by Companies (Accounting Standards) Rules, 2015,
the company has determined its primary business segment as a single segment of Trading Business i.e. Aluminium Coils. Since there are no
other business segments in which the company operates, there are no other primary reportable segments. Therefore, the segment revenue,
segment results, segment assets, segment liabilities, total cost incurred to acquire segment assets, depreciation charge are all as is reflected in
the financial statements.

15 RELATED PARTY TRANSACTIONS

Related parties and transactions with them as specified in the Ind-AS 24 on “Related Parties Disclosures” presribed under Companies
(Accounting Standards) Rules, 2015 has been identified and given below on the basis of information available with the company and the
same has been relied upon by the auditors.

For SURRENDRA & ASSOCIATES

Chartered Accountants

Firm Registration No: 010189N Parag Jain Abhishek Jain

(Managing Director) (Jt. Managing Director)

(DIN: 02803856) (DIN: 02801441)

S.K.Pensi

Partner

Membership No: 085572
Place: New Delhi
Date: 28 /05 / 2024
UDIN: 24443 526B KILRU9196