P. Provisions

Provisions are recognised when the Company has a present legal or constructive obligation as
a result of past events for which it is probable that an outflow of resources will be required to
settle the obligation and the amount can be reliably estimated as at the balance sheet date.
Provisions are measured based on management's estimate required to settle the obligation at
the balance sheet date and are discounted using a rate that reflects the time value of money.
When discounting is used, the increase in the provision due to the passage of time is
recognized as a finance cost.

Other Litigation Claims

Provision for litigation related obligation represents liabilities that are expected to materialize
in respect of matters in appeal.

Onerous Contracts

A provision for onerous contracts is measured at the present value of the lower expected costs
of terminating the contract and the expected cost of continuing with the contract. Before a
provision is established, the Company recognizes impairment on the assets with the contract.

Q. Taxes

Income tax expense for the period is the tax payable on the current period's taxable income
based on the applicable income tax rate and changes in deferred tax assets and liabilities
attributable to temporary differences. The current income tax charge is calculated in
accordance with the provisions of the Income Tax Act 1961.

Deferred income tax is determined using tax rates (and laws) that have been enacted or
substantially enacted at the end of the reporting period and are expected to apply when the
related deferred income tax asset is realized or the deferred income tax liability is settled.

Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax
assets are recognized for all deductible temporary differences and brought forward losses only
if it is probable that future taxable profit will be available to realize the temporary differences.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right
to offset and intends either to settle on a net basis, or to realize the asset and settle the
liability simultaneously.

Current and deferred tax is recognized in profit or loss, except to the extent that it relates to
items recognized in other comprehensive income or directly in equity. In this case, the tax is
also recognized in other comprehensive income or directly in equity, respectively.

R. Employee Benefits

Short-Term Employee Benefits

-The undiscounted amount of short-term employee benefits expected to be paid in exchange
for the services rendered by employees are recognised as an expense during the period when
the employees render the services.

Post-Employment Benefits Defined Contribution Plans

The company has not got registration under ESI and EPF Act so not paying any contribution
towards provident fund and ESI.

Defined Benefit Plans

No provisions has been made for Gratuity during the year 2023-24.

12.1 Nature and Purpose of Reserves

(a) Retained Earnings

Retained earnings are the profits (loss) that the Company has earned suffered till date, less any transfer to dividends or other distrbutions paid to the

(b) Security Premium:- Security Premium Reserve is the additional amount changed on the face value of any shares issued

(c) Capital Reserve:- A capital reserve is a line item on a company balancsheet that represents cash set aside for unexpected expenses or losses

(d) General Reserve:- A General reserve is established earlier by allocation from the realised profit which comprises net profit for the year

excluding net foreign currency exchange rate.

32 Commitments and Contingent Liabilities
32.1 Central Excise Demands

(a) Demand for Rs. 6.45 Lac under rule 14 of CCR 2004 with U/S 11A(4) of the Central Excise Act, 1944 and interest accrue as it alongwith penalty of Rs. 6.45 Lac. A
penalty of 6.45 Lac also imposed on S. Harpreet Singh , MG Director of the Company vide orer ref. No. V-CGST/D-South-Ldh/Pact/152/2020-21/1885 dt. 05.09.2023
for F.Y. 2016-17.

(b) Demand for Rs. 7.11 Lac under rule 14 of CCR 2004 with U/S 11A(4) of the Central Excise Act, 1944 and interest accrue as it alongwith penalty of Rs. 7.11 Lac . A
penalty of 7.11 Lac also imposed on S. Harpreet Singh, MGDirector of the Companyvide orerref. No. V-CGST/D-South-Ldh/Pact/150/2020-21/1892 dt. 05.09.2023
for F.Y. 2015-16

(c) Demand for Rs. 13.15 Lac Intt & penalty of 0.05 Lac vide order ref No. GST/Tech/SCN/Pact Inds./305/20/728 dt. 29.11.2023 on the company. A penality of Rs.
13.15 Lac on S. Harpreet Singh , MG Director of the Company

INCOME TAX

(d) A demand of Rs. 31.56 Lac for A,Y, 2016-17 under The I.T. Act, 1961 . The company has filed appeal against the order with CIT Appeal.

(e) A demand of Rs. 71.45 Lac for A,Y, 2017-18 under The I.T. Act, 1961 . The company has filed appeal against the order with CIT Appeal.

(f) A demand of I.Tax Rs. 5.14 Lac for A,Y, 2018-19 is outstand and the rectification to be filed for adjust the demand against tax deposited And for A.Y. 2019-20 is Rs.
0.02 Lac

(g) A demand of TDS for rs. 0.074 Lac is outstand , the revision of return is to be filed.

(h) The Goods and Service Tax department has conducted the survey on the business premises of the company on 18.08.2023. The order of the same is still pending as on
date on balance sheet.

37.3 Discount Rate used in determining Fair Value

(a) The interest rate used to discount estimated future cash flows, where applicable, are based on the incremental borrowing rate of borrower which in case of financial
liabilities is average market cost of borrowings of the Company and in case of financial asset is the average market rate of similar credit rated instrument. The company
maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data available.

38 Fair Value Hierarchy

All financial instruments for which fair value is recognised or disclosed are categorised within the fair value hierarchy, described as follows, based on the lowest level
input that is significant to the fair value measurement as a whole.

Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: Valuation techniques for which the lowest level input that has a significant effect on the fair value measurement are observable, either directly or indirectly.
Level 3: Valuation techniques for which the lowest level input which has a significant effect on the fair value measurement is not based on observable market data.

39 Financial Risk Management Objectives and Policies

The Company’s principal financial liabilities comprise of trade and other payables, borrowings, security deposits. The main purpose of these financial liabilities is to
finance the Company’s operations. The Company's principal financial assets include trade and other receivables, cash, fixed deposits and security deposits that derive
directly from its operations.

The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the management of these risks. The Company's
senior management is supported by Finance department that advises on financial risks and the appropriate financial risk governance framework for the Company. The
Finance department 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. It is the company's policy that
no trading in derivatives for speculative purposes may be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are
summarised below.

39.1 Market Risk

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

The sensitivity analysis in the following sections relate to the position as at March 31, 2024 & March 31, 2023.

The analysis exclude the impact of movements in market variables on: the carrying values of gratuity and other post-retirement obligations; provisions; and the non¬
financial assets and liabilities.

(a) 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 changes in market interest rates. The Company's
exposure to the risk of changes in market interest rates relates primarily to the Company's long term debt and short term debt obligations with floating interest rates. The
company is carrying its borrowings primarily at variable rates. For floating rates borrowings the analysis is prepared assuming the amount of the liability outstanding at
the end of the reporting period was outstanding for the whole year. A 50 basis point Increase or decrease is used when reporting interest rate risk internally to Key
management personnel and represents management's assessment of the reasonably possible change in interest rates. However, it is pertinent to mention here that the
Credit Facilities from Banks have been classified as Non-Performing Asset by the Concerned Banks. Therefore, no interest has been charged during the F.Y. 2023-24,
correspondingly the same has not been booked in the books of accounts of the Company.

(b) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company’s
exposure to the risk of changes in foreign exchange rates relates primarily to the Company's operating activities (when revenue or expense is denominated in a foreign
currency).

The Company transacts business in local currency only. The Company does not have foreign currency trade payables and receivables and is therefore, not exposed to
foreign exchange risk. The Company need not to use currency swaps or forward contracts towards hedging risk resulting from changes and fluctuations in foreign
currency exchange rate as per the risk management policy.

(c) Price Risk

The Company’s exposure to price risk arises from investments held and classified in the balance sheet either as fair value through other comprehensive income or at
fair value through profit or loss. To manage the price risk arising from investments, the Company diversifies its portfolio of assets.

39.2 Credit Risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to our Company. Our Company is dealing with
various customers. Financial instruments that are subject to concentration of credit risk, principally consist of balance with banks, investments in bonds, trade
receivables and loans and advances. Financial assets are written off when there is no reasonable expectation of recovery. Our Company measures the expected credit
loss of trade receivables based on historical trend, industry practices and the business environment in which we operate. Loss rates are based on actual credit loss
experience and past trends.

(a) Trade Receivables

Customer credit risk is managed by each Company subject to the Company’s established policy, procedures and control relating to customer credit risk management.
Credit quality of a customer is assessed based on an extensive credit rating. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into
homogenous groups and assessed for impairment collectively. An impairment analysis is performed at each reporting date on an individual basis for major customers.
The Company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors. The management made
aprovision @5% in respect of trade receievables ouststandins for more than 3 years based on historical trends of these customers.

40.1 Notes to Analytical Ratios

(a) % Change from March 31, 2023 to March 31, 2024

(i) Variation in the Current ratio is due to decrease in stock and increase in current liability ( Due to NPA, long term borrowing considered as short term borrowings )

(ii) Variation in Debt Equity Ratio is on account of heavy loss suffered by the company during the year.

⁽ⁱⁱⁱ⁾ Variation in Debt Service Coverage Ratio is on account of no interest and instalment has been paid by the company during the year .

^(iv) Variation in Return on equity ratio is on account of loss suffered by the company during the year.

^(v) Variation in Inventory turnover ratio is due to decrease in sale and level of stock during the year.

^(vi) Variation in Trade receivable turnover ratio is due to decrease in sale during the year.

^(vii) Variation in Trade payable turnover ratio is due to decrease in purchase during the year.

(viii) Variation Net Capital Turnover Ratio is on account of decreased revenue during the year as compared to previous year.

^(ix) Variation in Return on capital employed and net profit ratio is due to heavy loss suffered by the company during the year as compared to previous year..

41 Other Statutory Information

41.1 The company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

41.2 The Company do not have any transactions with companies struck off.

41.3 The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

41.4 The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

41.5 The Company have 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:

(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

41.6 The Company have 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,

41.7 The Company have not any such 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

41.8 The Company has not been declared wilful defaulter by any bank and financial institution or government or any government authority.

41.9 The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers)
Rules, 2017

41.10 The Company has not revalued its property, plant and equipment during the financial year.

41.11 The Company has no immovable property.

⁴² GOING CONCERN : The company has incurred losses which have resulted into erosion of its net worth. The management feels that this erosion is temporary in
nature and the company’s future business plans and prospects will help the company to turn around in future. The promoter of the company has assured to infuse the
funds as and when require, hence the company continues to prepare its financial statements on going concern basis. Further planning as below:

a. Manufacturing Expansion: Investment in modern manufacturing techniques and equipment to increase productivity.

b. Product Diversification: Exploring new types of agricultural equipment to diversify our product range.

c. Market Research: Conducting market research to identify high-demand products and potential markets.

d. Budgeting: Developing a detailed budget to manage expenses and allocate funds efficiently.

e. Cash Flow Management: Regular monitoring of cash flow to ensure liquidity and financial stability.

f. Investment: Reinvesting profits into the business for continuous growth and expansion.

43 OTHER INFORMATION

43.1 In the opinion of the Directors, Trade Receivables, Short Term Loans & Advances and Other Current Assets have been valued at which they are shown in the Balance
Sheet if realised in the ordinary course of business.

43.2 Balances of parties under Trade Payables, Other Current Liabilities, Long Term Loans & Advances, Trade Receivables, Short Term Loans & Advances and Other
Current Assets are subject to confirmation.

43.3 Previous Year Figures have been regrouped and recasted wherever necessary.

43.4 No provision has been made for Gratuity. The number of employees is less than the requirement so not paying any contribution towards ESI and Provident Fund.

43.5 The trading of shares at Stock Exchanges has been suspended. Further no prov. has been made for fees payable to MCX and BSE for the year 23023-24.

44 The Financial Statements has been approved for issue by Company’s Board of Directors on May 29, 2024.