PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions: Provisions are recognised when there is a present obligation as result of a past event, it is probable that
an outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable
estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure required to
settle the present obligation at the Balance Sheet date and are not discounted to its present value.

Contingent Liabilities : Contingent liabilities are not provided for in the books but are disclosed by way of notes in
the financial statements when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the
control of the company or a present obligation that arises from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.

Contingent Assets: Contingent Assets are neither recognized nor disclosed in the financial statements.

EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company’s earnings per share comprise the net profit after tax (and include
post tax effect of any extraordinary items.) The number of shares used in computing basic earnings per share is the
weighted average number of shares outstanding during the period. The number of shares used in computing diluted
earnings per share comprises of the weighted average number of shares outstanding during the period. The number of
shares used in computing diluted earnings per share comprises of the weighted average shares considered for deriving
basic earning per share, and also the weighted average number of equity shares which could have been issued on
conversion of all dilutive potential equity shares.

RELATED PARTY TRANSACTIONS

Related party transactions are transfer of resources or obligations between related parties, regardless of whether a price is
charged. Parties are considered to be related, if one party has the ability, directly or indirectly, to control the other party of
exercise significant influence over the other party in making financial or operating decisions. Parties are considered to be
related if they are subject to common control or common significant influence.

FINANCIAL INSTRUMENTS

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

FINANCIAL ASSETS

Initial recognition and measurement

All financial assets are initially recognised when the Company becomes a party to the contractual provisions of the
instrument. All financial assets are initially measured at fair value plus, in the case of financial assets not recorded at
fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

? Classification

For the purpose of subsequent measurement, the Company classifies financial assets in following categories:

• Financial assets at amortised cost

Financial assets at amortized cost are subsequently measured at amortized cost using the effective interest method.
The amortized cost is reduced by impairment losses, if any. Interest income and impairment are recognized in
the Statement of Profit and Loss.

• Financial assets at fair value through other comprehensive income (FVTOCI)

These assets are subsequently measured at fair value through other comprehensive income (OCI). Changes in fair
values are recognized in OCI and on derecognition, cumulative gain or loss previously recognized in OCI is
reclassified to the Statement of Profit and Loss. Interest income calculated using EIR and impairment loss, if
any, are recognized in the Statement of Profit and Loss.

• Financial assets at fair value through profit or loss (FVTPL)

These assets are subsequently measured at fair value. Net gains and losses, including any interest income, are
recognized in the Statement of Profit and Loss.

Financial assets are not reclassified subsequent to their recognition except if and in the period the Company changes
its business model for managing for financial assets.

De-recognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset
expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the
risks and rewards of ownership of the financial asset are transferred or in which the Company neither transfers nor
retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.

If the Company enters into transactions whereby it transfers assets recognised on its balance sheet, but retains either
all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognised.

Any gain or loss on derecognition is recognised in the Statement of Profit and Loss.

Impairment of financial assets

The Company applies the expected credit loss model for recognizing impairment loss on financial assets measured at
amortized cost, lease receivable, trade receivable other contractual rights to receive cash or other financial assets.
For trade receivable, the Company measures the loss allowance at an amount equal to life time expected credit

losses. Further, for the measuring life time expected credit losses allowance for trade receivable the Company has
used a practical expedient as permitted under Indian AS 109. This expected credit loss allowance is computed based
on provisions, matrix which takes into account historical credit loss experience and adjusted for forward looking
information.

FINANCIAL LIABILITIES
Initial recognition and measurement

All financial liabilities are initially recognised when the Company becomes a party to the contractual provisions of
the instrument. All financial liabilities are initially measured at amortized cost unless at initial recognition, they are
classified as fair value through profit or loss. In case of trade payables they are initially recognize at fair value and
subsequently, these liabilities are held at amortized cost, using the Effective interest method.

Classification and subsequent measurement

Financial liabilities are classified as measured at amortised cost or FVTPL.

A financial liability is classified as FVTPL if it is classified as held-for-trading, or it is a derivative or it is designated
as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses,
including any interest expense, are recognised in the Statement of Profit and Loss.

Financial liabilities other than classified as FVTPL, are subsequently measured at amortised cost using the effective
interest method. Interest expense is recognised in Statement of Profit and Loss. Any gain or loss on derecognition is
also recognised in the Statement of Profit and Loss.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on subsequently different terms, or
the terms of an existing liability are subsequently modified, such an exchange or modification is treated as the
derecognition of the original liability and the recognition of the new liability. The difference in the respective
carrying amount is recognize in the Statement of Profit & Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only
when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle
them on a net basis or to realise the assets and settle the liabilities simultaneously.

SEGMENT REPORTING

Operating segments are reported in a manner consistent with the internal reporting provided by Chief Financial
Officer and Director of the Company jointly and responsible for allocating resources, assess the financial performance
of the Company and make strategic decisions.

The Company has identified one reportable segment “trading activities” based on information reviewed by them.
STANDARDS ISSUED BUT NOT EFFECTIVE

As at the date of issue of financial statements, there are no new standards or amendments which have been notified by the
MCA but not yet adopted by the Company. Hence, the disclosure is not applicable.

The management assessed that fair value of cash and short-term deposits, trade receivables, trade payables,and other current financial assets and liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments.

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) Long-term fixed-rate receivables/borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, individual
creditworthiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are taken into account for the expected
losses of these receivables.

ii) Fair values of the Company’s interest-bearing borrowings and loans are determined by using DCF method using discount rate that reflects the issuer’s
borrowing rate as at the end of the reporting period. The own non- performance risk as at March 31, 2024 was assessed to be insignificant.

iii) The fair values of the unquoted equity shares, if any have been estimated using a discounted cash flow model. The valuation requires management to make
certain assumptions about the model inputs, including forecast cash flows, discount rate, credit risk and volatility, the probabilities of the various estimates within
the range can be reasonably assessed and are used in management's estimate of fair value for these unquoted equity investments.

”25” Financial Risk Management

The Company’s principal financial liabilities, comprise loans and borrowings, trade and other payables. 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 short-term deposits that derive directly from its operations.

The Company's activities expose it to a variety of financial risks: credit risk and liquidity risk and interest rate risk. The Company's primary focus is to foresee
the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance. The Company is not dealing in foreign
currency transaction and therefore Company is not exposed to foreign exchange risk.

The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below:

Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter party to a financial instrument fails to meet its contractual obligations, and arises
principally from the Company’s receivables from customers and investment securities. Credit risk arises from cash held with banks and financial institutions, as
well as credit exposure to clients, including outstanding accounts receivable. The maximum exposure to credit risk is equal to the carrying value of the financial
assets. The objective of managing counterparty credit risk is to prevent losses in financial assets. The Company assesses the credit quality of the counter parties,
taking into account their financial position, past experience and other factors.

Trade and other receivables

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the
default risk of the industry and country in whichthe customer operates, also has an influence on credit risk assessment. In addition, receivable balances are
monitered on an ongoing basis with the result that the Company's exposure to Bad debt is not significant. Also the Company does not enter into sales transaction
with customers having credit loss history. There are no significant Credit risk with related parties of the Company. The Company's is exposed to Credit risk in
the event of non payment of customers. Credit risk concentration with respect to Trade Receivables is mitigated by the Company's large customer base.
Adequate expected credit losses are recognised as per the assessment.

The history of Trade receivables shows an allowance for bad and doubtful debts of Rs Nil ( Nil as at March 31,2023). The Company has made allowance of Rs
Nil ( Nil as at March 31,2023) against T otal T rade receivable of Rs. Nil ( Rs. 37.47 Lacs as at March 31,2023). During the year under audit, the Company had
written off balance of Rs. Nil from Trade Receivable in Profit and Loss Account.

Bank Deposits

The company maintains its cash and cash equivalents and bank deposits with reputed and highly rated bank.Hence, there is no significant credit risk on such
deposits.

Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk through
credit limits with borrowings.

The Company’s corporate treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related
to such risks are overseen by senior management.

”35” Additional Information

(a) Details of crypto currency or virtual currency

The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31, 2024 and March 31, 2023. Further, the Company has also not
received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(b) Undisclosed income

During the year ended March 31, 2024 and March 31, 2023, the Company has not surrendered or disclosed as income any transactions not recorded in the books of accounts in the
course of tax assessments under the Income T ax Act, 1961 (such as, search or survey or any other relevant provisions of the Income T ax Act, 1961).

(c) Loans or advances to specified persons

The Company has granted loans or advances in nature of loans to promoters/directors/KMPs/Related parties (as defined under the Companies Act, 2013) for the period ended March
31, 2024 and March 31, 2023.

(d) Compliance with numbers of layers of companies

The Company is in compliance with the number of layers of companies in accordance with clause 87 of Section 2 of the Act read with the Companies (Restriction on number of
Layers) Rules, 2017 during the period ended March 31, 2024 and March 31, 2023.

(e) Utilisation of borrowed funds and share premium

During the year ended March 31, 2024 and March 31, 2023, the Company has not advanced or loaned or invested funds (either borrowed funds or share premium or kind of funds) 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.

During the year ended March 31, 2024 and March 31, 2023, 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:

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.

(f) Relationship with struck off companies

The Company does not have any transactions with the companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the year
ended March 31, 2024 and March 31, 2023.

(g) The Company has not been declared Wilful Defaulter by any bank or financial institution or government or any government authority.

(h) No proceeding have been initiated nor pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act,1988 (45 of 1988) and rules
made thereunder.

(I) Others:

a) Balances of Sundry Creditors, Debtors, Receivables / Payables from / to various parties / authorities are subject to confirmation from the respective parties, and necessary
adjustments if any, will be made on its reconciliation

b) In the Opinion of the Board of Directors the aggregate value of current assets on realization in ordinary course of business will not be less than the amount at which these are stated
in the Balance Sheet.

c) Previous year’s figures have been re-arranged and re-grouped, wherever necessary to make them comparable with those of current year.

As per our report of even date

For, S V J K and Associates For and on behalf of the Board

Chartered Accountants Ambassador Intra Holdings Limited

Firm Reg. No. 135182W

Siddhartha Ajmera Naresh Chiplunkar Sanjay Kumar

Reeturaj Verma Managing Director Director CFO

Partner DIN: 6823621 DIN: 05268154

M.No. 193591

UDIN: 24193 591BKAFLU8424

Place: Ahmedabad Place: Ahmedabad

Date: 30th May, 2024 Date: 30th May, 2024