(j) Provision for current and deferred tax

a) Taxation is provided for under the tax payable method, whereby all income taxes devolving upon
the company are provided for, after considering all eligible allowances and rebates. Any claims by
the Revenue Authorities against the Company are evaluated as regards the likelihood of their
crystallizing into a liability. Accordingly, the claims are quantified to the extent accurately
determinable and provision recorded or disclosure made depending on the assessment of such
likelihood.

b) Deferred tax is recognized for all the timing differences. Deferred tax assets are recognized when
considered prudent.

(k) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable
to equity shareholders (after deducting attributable taxes) by the weighted average number of
equity shares outstanding during the Year.

(l) Employee Benefits:

a) Retirement benefits in the form of Provident Fund are defined contribution scheme and
contributions in respect of such scheme are recognized in the books of account.

b) Gratuity liability is a defined benefit obligation and provided on the basis of independent
actuarial valuaton on projected unit credit method made at the end of the year.

(m) Provisions, Contingent Assets and Contingent Liabilities:

Provisions involving substant al degree of est maton in measurement are recognized when there
is a present obligaton as a result of past events and it is probable that there will be an outflow of
resources. Contngent Liabilites are disclosed when the Company has possible obligaton or a
present obligaton and it is probable that a cash outflow will not be required to settle the
obligaton. Contngent Assets are neither recognized nor disclosed in the financial statements.

(n) Impairment:

The carrying amounts of assets are reviewed at each Balance Sheet date if there is any indicat on
of impairment based on internal/external factors. An impairment loss will be recognized if the
carrying amount of an asset exceeds its est mated recoverable amount. The recoverable amount
is greater of asset's net selling price and value in use. In assessing the value in use, the est mated
future economic benefits are discounted to the present value at the weighted average cost of
capital.

2.4 The Board of Directors of the Company approved a Scheme of Arrangement between DRS Dilip Roadlines Limited,
previously Holding Company (Demerged Company) and DRS. Cargo Movers Private Limited, (the "Resulting Company ") and
their respective shareholders and creditors as approved by the Hon'Ble National Company Law Tribunal, Hyderabad Bench by
an order dated August, 17, 2023 whereby the warehouse Division of the Demerged Company ("Demerged Undertaking") will be
demerged into the Company, on a going concern basis with effect from the Appointed Date i.e. April 1, 2022. Hence, Post
Demerger shareholders of Demerged company are allotted shares of the Resulting Company in the ratio of 1 (One) fully paid
up new equity share of Rs.10/- each of the Company for every 2 (Two) equity shares of Rs.10/- each of Demerged company.
Accordingly, the Resulting company had allotted 75,31,201 shares respectively to the eligible shareholders of Demerged
company.

4.1 Loans taken from directors are interest free and are treated as long term as no terms of repayment are fixed and the
company is not expecting to pay any amounts in the next financial year.

4.2. Loan from bank represents loans from ICICI Bank limited and Axis Bank Ltd taken for Purchase of trucks and cars. The
above loans are secured by hypothecation against trucks and cars.

4.3 The Average interest rate of the Secured loans from ICICI Bank works out to 8.28% per annum and from Axis Bank 9.11%
per annum.

4.4 Loan from relate party (DRS Dilip Roadlines Limited) represent unsecured loan which carries interest rate of 9% per

Note 26 : Title deeds of immovable properties

The title deeds of all the immovable properties, as disclosed in Note 11 to the financial statements, are held in
the name of the company.

Note 27 : Valuation of Property Plant & Equipment, intangible asset

The Company has not revalued its property, plant and equipment or intangible assets or both during the current
or previous year.

Note 28 : Loans or advances to specified persons

No loans or advances in the nature of loans are granted to promoters, directors, KMPS and the related parties
(as defined under Companies Act, 2013,) either severally or jointly with any other person, that are repayable on
demand or without specifying any terms or period of repayment.

Note 29 : Details of benami property held

No proceedings have been initiated on or are pending against the Company for holding benami property under
the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

Note 30 : Borrowing secured against current assets

The Company has no borrowings from banks on the basis of security of current assets.

Note 31 : Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

Note 32 : Relationship with struck off companies

The Company has no transactions with the companies struck off under Section 248 of the Companies Act,
2013 or Section 560 of the Companies Act, 1956

Note 33 : Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the
statutory period.

Note 34 : Utilisation of borrowed funds and share premium

No funds have been advanced / loaned / invested (from borrowed funds or from share premium or from any other
sources / kind of funds) by the Company to any other person(s) or entity(ies), including foreign entities
(Intermediaries), with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i)
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 (ii) provide any guarantee, security or the like to or on behalf
of the Ultimate Beneficiaries.

No funds have been received by the Company from any person(s) or entity(ies), including foreign entities
(Funding Parties), with the understanding (whether recorded in writing or otherwise) that the Company shall (i)
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 (ii) provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries.

Note 35 : Undisclosed Income

There is no income surrendered or disclosed as income during the current or previous year in the tax
assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account.

Note 36 : Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year

Note 37 : Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the company from banks and financial institutions have been applied for the
purposes for which such loans were taken.

Note: 38 - Related party disclosures as per AS 18, read with companies act, 2013:

Key management Personnel (KMP)

Anjani Kumar Agarwal, Managing Director
Sanjay Kumar Agarwal, Director

Sudhakar Venkata Nagarakanti, Director (From August 17, 2023)

Sridharan Chakrapani, Director (From September 27, 2023)

Durga Prasad Vajjha, Independent Director (From September 27, 2023)

C.S. Raghunandan, Chief Financial Officer (From September 27, 2023)

Vandana Modani, Company Secretary (From November 11, 2023)

Enterprises owned or significantly influenced by Key Management personnel

DRS Dilip Roadlines Limited, Group Company (Previously Holding company)

MDN Edify Education private limited, Group Company
DRS International School, Group Entity

39: Contingent Liabilities and Capital Commitments

Contingent Liabilities: Rs 2.09 Lakhs(P.Y Nil)

Company has received order dated 07.05.2024 from Office of the Superintendent of Central Tax and
Customs with demand of Rs 2.09 Lakhs(Including penalty of Rs 0.58 Lakhs). Company is in the process of

NOTE 43 : Demerger

During the Financial Year ended as on 31st March, 2024, the Scheme of Arrangement between DRS Dilip
Roadlines Limited ("Demerged Company") and DRS. Cargo Movers Private Limited ("Resulting Company"), and
their respective Shareholders and Creditors Under Section 230 to 232 and other applicable provisions of the
Companies Act ,2013, has been sanctioned by the Hon'ble NCLT, Hyderabad Bench, vide order, dated
17.08.2023. The Certified copy of the Order was issued on 27.09.2023. Pursuant to the said Order, the
Warehouse Division of the Demerged Company (The Demerged Undertaking) stands transferred to the
Resulting Company on a going concern basis with effect from 01.04.2022, the appointed date.

Accordingly, with effect from the Appointed date, the Warehouse division of the Demerged Company stands
transferred and vested into the Resulting Company. As per the Share Exchange Ratio as contemplated in the
said Scheme, 1(one) Equity Share of face value of Rs.10/- (Rupees Ten only) each fully paid up of the Resulting
Company has been issued and allotted by the Resulting Company for every 2(two) fully paid-up equity shares
of the face value of Rs.10/- (Rupees Ten only) each held in the Demerged Company. Thus, 75,31,201 Equity
Shares of Rs. 10/- each have been issued and allotted by the Resulting Company to the shareholders of
Demerged Company as a consideration pursuant to the provisions of section 230 to 232 and other relevant
provisions of the Companies Act, 2013.

Further, as contemplated in the said Scheme, the entire equity share capital of the Resulting Company, (i.e.,
11,84,300 shares) held by the Demerged Company and its nominee in the Resulting Company stands cancelled
or in other words the investments made by Demerged Company in the share capital of Resulting Company as
appearing in the books of Demerged Company stands cancelled.

The Assets and Liabilities pertaining to the Demerged segment transferred to and vested in the resulting
company pursuant to the scheme are recorded at their respective carrying values as appearing in the books of
Demerged company.

Accordingly, the Share capital account has been credited with the aggregate face value of shares issued to the
share holders of the Demerged Company pursuant to the Scheme and the difference has been accounted in
the appropriate reserves under the head Reserves and Surplus.

As per our Report of even date For and on behalf of the Board

For M.Anandam & Co.,

Chartered Accountants

Sd/- Sd/-

Sd/- Anjani Kumar Agarwal Sanjay Kumar Agarwal

A.V.Sadasiva Managing Director Director

Partner D IN : 00006982 DIN : 00204750

M.No. 018404

Sd/- Sd/-

C S Raghunandan Vandana Modani

Place: Secunderabad Chief Financial Officer Company Secretary

Date: 29.05.2024_PAN: ACTPR0124R_PAN: CYQPM1174B