(i) Provisions
General

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed,
for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement
is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

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

Contingent liabilities recognised in a business combination

A contingent liability recognised in a business combination is initially measured at its fair value. Subsequently, it is measured at the
higher of the amount that would be recognised in accordance with the requirements for provisions above or the amount initially
recognised less, when appropriate, cumulative amortisation recognised in accordance with the requirements for revenue

(j) Employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after
the end of the period in which the employees render the related service are recognised in respect of employees' services up to the
end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are
presented as current employee benefit obligations in the balance sheet.

(ii) Other long-term employee benefit obligations

The liabilities for earned leave and sick leave are not expected to be settled wholly within 12 months after the end of the period in
which the employees render the related service. They are therefore measured as the present value of expected future payments to
be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit
method. The benefits are discounted using the market yields at the end of the reporting period that have terms approximating to

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer
settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

(iii) Post-employment obligations

The company operates the following post-employment schemes:

(a) defined benefit plans such as gratuity, pension, post-employment medical plans; and

(b) defined contribution plans such as provident fund.

Pension and gratuity obligations

The liability or asset recognised in the balance sheet in respect of defined benefit pension and gratuity plans is the present value of
the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is
calculated annually by actuaries using the projected unit credit method.

The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated future cash
outflows by reference to market yields at the end of the reporting period on government bonds that have terms approximating to
the terms of the related obligation. The benefits which are denominated in currency other than INR, the cash flows are discounted
using market yields determined by reference to high-quality corporate bonds that are denominated in the currency in which the
benefits will be paid, and that have terms approximating to the terms of the related obligation.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair
value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in the
period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of
changes in equity and in the balance sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised
immediately in profit or loss as past service cost.

Post-employment medical obligations

Company provide post-retirement healthcare benefits to their retirees. The entitlement to these benefits is usually conditional on
the employee remaining in service up to retirement age and the completion of a minimum service period. The expected costs of
these benefits are accrued over the period of employment using the same accounting methodology as used for defined benefit
plans. Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or

Defined contribution plans

The company pays provident fund contributions to publicly administered provident funds as per local regulations. The company
has no further payment obligations once the contributions have been paid. The contributions are accounted for as defined
contribution plans and the contributions are recognised as employee benefit expense when they are due. Prepaid contributions
are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

(k) Earnings per share

Basic earnings per share

Basic earnings per share is calculated by dividing:

- the profit attributable to owners 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 and excluding treasury shares

Dilluted 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

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

1 Current/non current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as
current when it is:

- Expected to be realised or intended to be sold or consumed in normal operating cycle

- Held primarily for the purpose of trading

- Expected to be realised within twelve months after the reporting period, or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the
reporting period

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for the purpose of trading

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents.
The company has identified twelve months as its operating cycle.

3 Significant accounting judgements, estimates and assumptions

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual
results. Management also needs to exercise judgement in applying the company's accounting policies.

This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items which are
more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed.
Detailed information about each of these estimates and judgements is included in relevant notes together with information about
the basis of calculation for each affected line item in the financial statements.

Critical estimates and judgements

Estimates and judgements 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.

Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments that have quoted price. Thefairvalue ofall equity instruments which are traded
in the stock exchanges is valued using the closing price as at the reporting period.

Level 2 - The fair value of financial instruments that are not traded in an active market 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 are not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity shares, contingent consideration and
indemnification assets included in level 3.

iii. Valuation technique used to determine fair value

Specific Valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

22. FINANCIAL RISK MANAGEMENT_

The company's activity expose it to market risk, liquidity risk and credit risk. The Company's management oversees the management of
these risks and ensures 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.

(A) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of change in market prices.
Market risk comprises three types of risk: foreign currency risk, interest rate risk and other price risk.

(i) Foreign currency risk

Currency risk is not material as the Company's primary business activities are within India and does not have significant exposure in
foreign currency.

(ii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of change in market
interest rates. The management is responsible for the monitoring of the Company' interest rate position. Various variables are considered
by the management in structring the Company's borrowings to achieve a reasonable and competitive cost of funding.

(iii) Other price risk

The Company is not exposed to other price risk.

(B) Credit risk

Credit risk is the risk that the counterparty will not meet its obligations leading to a financial loss. Credit risk arises from cash and cash
equivalents, investments carried at amortised cost, as well as credit exposures to customers including outstanding receivables and
unbilled revenues.

Trade receivables

Credit risk has always been managed by the Company through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the company grants credit terms in the normal course of business.

Cash and Cash Equivalents

Credit Risk on cash and cash equivalent is generally low as the said who have been assigned high credit rating by international and
domestic rating agencies.

(C) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable price.
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an
adequate amount of credit facilities to meet obligations when due. The Company's management is responsible for liquidity, funding as
well as settlement management. In addition, processes and policies related to such risks are overseen by senior management.
Management monitors the Company's liquidity position through rolling forecasts on the basis of expected cash flows.

For the purpose of the company's capital management, capital includes issued equity capital, convertible preference shares,
share premium and all other equity reserves attributable to the equity holders of the parent. The primary objective of the
Company's capital management is to maximise 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. To maintain or adjust the capital structure, the company may adjust the dividend
payment to shareholders, return capital to shareholders or issue new shares. The company monitors capital using a gearing
ratio, which is net debt divided by total capital plus net debt. The company includes within debt, interest bearing loans and
borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

26. GOING CONCERN_

The Company has accumulated losses. These conditions indicate the existence of a material uncertainty that may cast significant doubt about
the Company's ability to continue as a going concern. However the management is expecting revival of the company. Hence, the financial
statements of the Company have been prepared on a going concern basis.

27. The bank has auctioned the Land, Factory Premises, Plant and Machinery, Inventory and other assets lying at Nasik in Financial Year 2007-08
which was approved by the Debt Recovery Tribunal. On the basis of correspondence received from the bank, auction proceeds received by
bank has been utilized to repay Bank Cash Credit Liabilities, Debentures with interest, Electricity Charges, deposit given to Labour Court for
Labour Settlement, SICOM Loans and other related expenses. The accounting of the above transaction has been done on the basis of
correspondence taken place with bank. No confirmations from banks, debenture holders, electricity department, Sales Tax Authority or labour
court have been received against the proceeds received. The balance of the auction proceeds, after payment of all determined liabilities, has
been returned to the Company. The bank has not paid any interest on such amount that was held for a substantial period.

Revaluation of Property, Plant and Equipment_

i) The company does not have any Property, Plant and Equipment and Intangible Asset which are revalued, therefore the disclosure regarding
whether the revaluation is done by registered valuer or not is not applicable to the company. The company has not acquired any asset through
business combination, thus disclosures related to assets acquired through business combination is not disclosed thereof.

Trade Receivables and Trade Payables

ii) The Company does not have any Trade receivables and Trade Payables as at the reporting date, thus the disclosure of ageing schedule is not
appliacble to the company.

Loans and Advances

iii) The Company does not have any Loans or Advances in the nature of loans granted to Promoters, Directors, KMPs and the related
parties,either severally or jointly with other person, therefore the diclosure related to those are not applicable to company.

Title Deeds of Immovable Property

iv) The Company does not have any kind of Immovable Property, therefore disclosure related to title deed of Immovable Property being in the
name of the Company is not applicable to the company.

Investment Property

v) Since the company does not have any Investment Property as on the reporting date, the disclosure regarding determination of fair value by
Registered valuer, is not applicable to the company.

Capital work in progress

vi) The company does not hold any project in progress or any suspended project as on the reporting date, thus the Capital work in progress
ageing as well as completion schedule is not applicable to the company.

Intangible Asset under Development

vii) The company does not have any Intangible assets under development stage, therefore disclosure regarding determination of fair value by
Registered valuer, are not applicable to the company.

Borrowings from Bank or Financial Institution

viii) The Company does not have any borrowings from banks and financial institutions against any current assets and that are used for any
other purpose other than the specific purpose for which it was taken at the reporting balance sheet date.

Benami Property

ix) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any
Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1998) and the rules made thereunder.

Wilful Defaulter

x) The Company is not declared as a wilful defaulter by any bank or financial institution or other lender during the any reporting period.
Relationship with Struck-off Companies

xi) The Company has not identified any transactions or balances in any reporting periods with companies whose name is struck off under
section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

Registration of charges or satisfaction with Registrar of Charges (ROC)

xii) There is no charge or satisfaction yet to be registered with ROC beyond the statutory period by the company.

Compliance with layers of companies

xiii) 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.

Compliance with Scheme(s) of Arrangements

xiv) There are no schemes or arrangements which have been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the reporting periods.

Utilisation of Borrowed Fund and Share Premium

xv) 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,

xvi) 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
Undisclosed Income

xvii) The Company does not have any transaction which is not recorded in the books of accounts that 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)

CSR

xviii) The Company is not covered under section 135 of the companies act, 2013. Hence, disclosures related to CSR
activities are not applicable.

Details of Crypto Currency and Virtual Currency

xix) The Company has not traded or invested in Crypto currency or Virtual Currency during reporting periods.

32. Previous year figures have been regrouped / rearranged wherever necessary to conform to the current years'
presentation and figures are rounded off to nearest rupee.

Significant Accounting Policies and Notes

Forming Part of the Financial Statements. 1 32

As per our report of even date attached

For and on behalf of the Board of
For GMJ & Co Directors

Chartered Accountants
FRN: 103429W

Sonia Didwania Bharat Somani Vanteddu Lakshmi Priya Darshini

Partner Managing Director Whole-time Director &CFO

M.No.410461 (DIN: 00286793) (DIN: 07803502)

Vikram Somani Komal Agarwal

Director Company Secretary

(DIN: 00054310) (M.No. A67872)

Place: Mumbai Place: Mumbai

Date : 27th May,2024 Date : 27th May,2024