3.09 Provisions

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. 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. Provisions are reviewed at each balance sheet date and
adjusted to reflect the current best estimates.

3.10 Retirement and other employee benefits

Employee benefits include salaries, wages, contribution to provident fund, gratuity, leave encashment towards un-availed
leave, compensated absences, post-retirement medical benefits and other terminal benefits.

Short-term employee benefits

Wages and salaries, including non-monetary benefits that are expected to be settled 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. Liabilities recognised in respect of short-term
employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related
service.

i. Defined contribution plan

Retirement benefits in the form of provident fund are a defined contribution scheme and the contributions are charged to the
standalone statement of profit and loss of the period when the employee renders related services. There are no other
obligations other than the contribution payable to the respective authorities.

ii. Defined benefit plan

Gratuity liability for eligible employees are defined benefit obligation and are provided for on the basis of an actuarial valuation
on projected unit credit method made at the end of each financial year. Obligation is measured at the present value of
estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date
on Government Securities where the currency and terms of the Government Securities are consistent with the currency and
estimated terms of the defined benefit obligation.

Remeasurements, comprising of actuarial gains and losses excluding amounts included in net interest on the net defined
benefit liability are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings
through OCI in the period in which they occur. Remeasurements are not reclassified to the standalone statement of profit and
loss in subsequent periods.

Past service costs are recognised in profit or loss on the earlier of:

• The date of the plan amendment or curtailment, and

• The date that the Company recognises related restructuring costs

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises the
following changes in the net defined benefit obligation as an employee benefit expense in the statement of profit and loss:

• Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements; and

• Net interest expense or income

Other long-term employee benefits

Liabilities recognised in respect of other long-term employee benefits are measured at the present value of the estimated
future cash outflows expected to be made by the Company in respect of services provided by employees up to the reporting
date.

3.11 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 recognised initially 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.

On initial recognition, a financial asset is classified as measured of

• Amortized cost

• FVOCI - Debt instruments

• FVOCI - equity instruments

• FVTPL

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

Debt instruments at amortized cost

A 'debt instrument' is measured at its amortized cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and
Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and
interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company.

After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate
(EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
are an integral part of the EIR. The EIR amortisation is included in other income in the statement of profit and loss. The losses
arising from impairment are recognised in the statement of profit and loss.

Debt instrument at FVTOCI

A 'debt instrument' is classified at FVTOCI if both of the following criteria are met:

a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial
assets, and

b) The asset's contractual cash flows represent SPPI.

Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date at fair value.

Fair value movements are recognized in the other comprehensive income (OCI). However, the Company recognizes interest
income, impairment losses & reversals and foreign exchange gain or loss in the Profit and Loss. On derecognition of the asset,
cumulative gain or loss previously recognised in OCI is reclassified from the equity to Profit and Loss. Interest earned whilst
holding FVTOCI debt instrument is reported as interest income using the EIR method.

Equity investment

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading are
classified as at FVTPL. For all other equity instruments, the Company may make an irrevocable election to present in other
comprehensive income subsequent changes in the fair value. The Company makes such election on an
instrument-by-instrument basis. The classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding
dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to standalone statement of profit and loss,
even on sale of investment. However, the Company may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognised in the standalone
statement of profit and loss.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primarily
derecognised (i.e. removed from the Company's balance sheet) when:

The rights to receive cash flows from the asset have expired, or

The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received
cash flows in full without material lay to a third party under a 'pass-through' arrangement; and either

(a) the Company has transferred substantially all the risks and rewards of the asset, or

(b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred
control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither
transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognize the transferred asset to the extent of the Company's continuing involvement. In that case, the
Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that
reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay.

Impairment of financial assets

In accordance with lnd AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of
impairment loss on the following financial assets and credit risk exposure:

a) Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits, trade
receivables and bank balance

b) Financial assets that are debt instruments and are measured as at FVTOCI

c) Lease receivables under lnd AS 17

d) Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are
within the scope of lnd AS 115.

e) Loan commitments which are not measured as at FVTPL

f) Financial guarantee contracts which are not measured as at FVTPL

The Company follows 'simplified approach' for recognition of impairment loss allowance on:

• Trade receivables and

• Other receivables

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises
impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has
been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is
used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent
period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial
recognition, then the entity reverts to recognizing impairment loss allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial
instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12
months after the reporting date.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR. When estimating the
cash flows, an entity is required to consider:

• All contractual terms of the financial instrument (including prepayment, extension, call and similar options) over the expected
life of the financial instrument. However, in rare cases when the expected life of the financial instrument cannot be estimated
reliably, then the entity is required to use the remaining contractual term of the financial instrument.

• Cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

• Financial assets measured as at amortized cost, contractual revenue receivables and lease receivables: ECL is presented as an
allowance, i.e., as an integral part of the measurement of those assets in the balance sheet. The allowance reduces the net
carrying amount. Until the asset meets write-off criteria, the Company does not reduce impairment allowance from the gross
carrying amount.

Financial liabilities

Initial recognition and measurement

Financial liabilities are measured at amortised cost using the effective interest method includes loans and borrowings, trade
payables and other payables.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term.

Loans and borrowings

This is the category most relevant to the Company. After initial recognition, interest-bearing loans and borrowings are
subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the
liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account
any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as
finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised 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 substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original
liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the standalone
statement of profit and loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets
and settle the liabilities simultaneously.

3.12 Contingent consideration receivable

Contingent consideration is classified as an asset and is measured at fair value on the transaction date. Subsequently,
contingent consideration is remeasured to fair value at each reporting date, with changes included in the statement of profit
and loss.

3.13 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original
maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above as they are considered an integral part of the Company's cash management.

3.14 Property Plant and equipment:

i. Recognition and measurement: Property, plant and equipment including bearer assets are carried at historical cost of
acquisition or deemed cost less accumulated depreciation and accumulated impairment loss, if any. Historical cost
includes its purchase price, including import duties and nonrefundable purchase taxes after deducting trade discounts
and rebates and any cost directly attributable to bringing the asset to the location and condition necessary for it to be
capable of operating in the manner intended by management. Subsequent expenditure related to an asset is added
to its book value only when it is probable that future economic benefits associated with the item will flow to the
Company and the cost of the item can be measured reliably. The carrying amount of the replaced part is
derecognized. All repairs and maintenance are charged to the Statement of Profit and Loss during the financial year in
which these are incurred.

ii. Depreciation: Depreciation is provided on assets to get the initial cost down to the residual value. Land is not
depreciated. Depreciation is provided on a straightline basis over the estimated useful life of the asset or as
prescribed in Schedule II to the Companies Act, 2013 or based on a technical evaluation of the asset. Cost incurred on
assets under development are disclosed under capital work in progress and not depreciated till asset is ready to use
i.e. when it is in the location and condition necessary for it to be capable of operating in the manner intended by
management. Estimated useful life of items of Property, Plant and Equipment are as follows:

The residual values and useful lives for depreciation of property, plant and equipment are reviewed at each financial year end
and adjusted prospectively, if appropriate. An asset's carrying amount is written down immediately to its recoverable amount if
the asset's carrying amount is greater than its estimated recoverable amount. Recoverable amount is higher of the value in use
or exchange. Gains and losses on disposals are determined by comparing the sale proceeds with the carrying amount and are
recognised in the Statement of Profit and Loss.

3.15 Assets held for sale:

Non-current assets or disposal groups comprising of assets and liabilities are classified as 'held for sale' when all of the
following criteria's are met: (i) decision has been made to sell. (ii) the assets are available for immediate sale in its present
condition. (iii) the assets are being actively marketed and (iv) sale has been agreed or is expected to be concluded within 12
months of the Balance Sheet date. These are measured at the lower of their carrying amount and fair value less costs to sale.
Costs to sell are the incremental costs directly attributable to the disposal of assets (disposal group), excluding finance cost and
income tax expenses.

3.16 Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period.

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

3.17 Leases
As a lessee

Lease of assets, where the Company, as a lessee, has substantially assumed all the risks and rewards of ownership are
recognised as Leases for all leases above 12 months, unless the underlying asset is of low value. Assets classified are capitalised
and depreciated as per Company's policy on Property, Plant and Equipment. The corresponding lease rental obligations, net of
finance charges, are included in borrowings or other financial liabilities as appropriate. Each lease payment is allocated
between the liability and finance cost. The finance cost is charged to the Statement of Profit and Loss over the lease period so
as to produce a constant periodic rate of interest on the remaining balance of the liability for each year.

As a lessor

Lease income from operating leases where the Company is a lessor is recognised in the Statement of Profit and Loss on a
straight- line basis over the lease term unless the receipts are structured to increase in line with expected general inflation to
compensate for the expected inflationary cost increases.

3.18 Impairment of non-financial assets

Non-financial assets other than inventories, deferred tax assets and non-current assets classified as held for sale are reviewed
at each Balance Sheet date to determine whether there is any indication of impairment. If any such indication exists, or when
annual impairment testing for an asset is required, the Corporation estimates the asset's recoverable amount. The recoverable
amount is the higher of the 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.

Note 4

Other disclosures and assumptions

Ministry of Corporate Affairs (MCA), vide notification dated March 23, 2022, has made the following amendments to Ind AS
which are effective from April 1, 2022:

a) Ind AS 109: Annual Improvements to Ind AS (201)

b) Ind AS 103: Reference to Conceptual Framework

Based on preliminary assessment, the Company does not expect these amendments to have any significant impact on its
standalone financial statements.

Note 30: Contingent Liabilities

A contingency is a potential liability or gain that may arisen from past events but whose existence will be confirmed by
the occurrence or non- occurrence of uncertain future events. The company has assessed its operations and
determined that there were following contingent liability recognition or disclosure as of March 31, 2024

Note 31: Capital Management

Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to
sustain future economic development of the business. Management monitors the return on capital, as well as the level
of dividends to equity shareholder. The board of directors seeks to maintain a balance between higher returns that
might be possible with higher levels of borrowing and the advantages and security afforded by a sound capital position.

Note 32: Operating Segment

In the opinion of the chief operating decision maker, the company is mainly engaged in the Trading business. All other
activities of the company revolve around the main business and as such, there are no separate operating segments
that require reporting under Ind AS 108.

Fair Value Hierarchy

The section explains the judgments and estimates made in determining the fair values of the financial instruments that are (a) recognised and
measured at fair value; and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an
indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into three
levels prescribed under Ind AS 113 - Fair Value Measurement. An explanation of each level is given at the end of the table.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

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 the instruments are observable, the instrument is included in Level 2.

Level 3: If one or more of the significant input is not based on observable market data, the instrument is included in Level 3.

B. Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

• Credit risk

• Liquidity risk

• Market risk

(i) Risk Management framework

The Company's board of directors has the overall responsibility of overseeing and establishing the Company's risk management framework.
The Company has a comprehensive risk management policy relating to the risks that the Company faces under various categories like
strategic, operational, reputational and other risks and these have been identified and suitable mitigation measures have also been
formulated. The board of directors reviews the key risks and the mitigation procedures periodically.

(ii) Credit Risk

Credit risk is the risk that a counter party will not meet its obligation under a financial instrument or a customer contract, leading to a
financial loss. Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities.

(a) Trade Receivables

Customer credit risk is managed subject to Company's established policy, procedures and control leading to customer credit risk
management. Credit limits are established for all customers based on internal rating criteria. Outstanding trade receivables are regularly
monitored. An impairment analysis is performed at each reporting date on an individual basis. Management believes that the unimpaired
amounts that are past due are still collectible in full, based on the historical payment behaviour and analysis of customer risk.

(b) Financial Instruments

The credit risk from balances / deposits with banks and other financial assets are managed in accordance with the Company's approved
policy. Investment of surplus funds are made only with approved counterparties and within limits assigned to each counter-parties. The limits
are assigned to mitigate the concentration risk. These limits are actively monitored by the Company.

(iii) Liquidity Risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its obligations. The Company monitors its rolling forecast of its
liquidity position on the basis of expected cash flows. The Company's approach is to ensure that it has sufficient liquidity or borrowing
headroom to meet its obligations at all point in time. The Company has sufficient short term fund based lines, which provides healthy
liquidity.

(iv) Market Risks

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and commodity prices - will affect the
Company's income or the value of its holding of financial instruments. The objective of market risk management is to manage and control
market risk exposures within acceptable parameters, while optimising the return. Financial instruments affected by market risk include loans
and borrowings, deposits and investments.

Note 38: Corporate Social Responsibilty

As per Section 135 of the Companies Act, 2013 ('Act), a company, meeting the applicability threshold, needs to spend at least 2% of
its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities.

The company's net profits and networth is below the threshold limits, therefore no expenditure has been incurred on the CSR
activities during the FY 2023-24 (previous year: NIL)

Note 39: Other Statutory Information

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

(b) The company is not declared as wilful defaulter by any bank of financial institution or other lenders.

(c) The Company does not have any approved schemes of arrangements during the year

No transactions to report against the following disclosure requirements as per amended Schedule III:

Note 40: Disclosure with Struck off Comapanies

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section
560 of Companies Act, 1956.

Note 41: Undisclosed Income

During the year the company has not disclosed any income in terms of any transaction not recorded in the books of accounts that
has been surrendered or disclosed as income in the tax assessment under the Income Tax Act 1961.

Note 42: Virtual Currency

The Company has not traded or invested in Crypto currenty or Virtual Currency during the financial year.

Note 43: Information required under section 186(4) of Companies Act 2013

There are no loans, guarantee given, securities provided by the company. Further there are no investments made by the Company
during the financial year.

Note 44: Events after the reporting period

There was no significant event after the end of the reporting period which requires any adjustment or disclosure in the Financial
Statements.

Note 45: Prior year Comparatives

Previous year figures have been re-grouped / re-classified, to conform to current period's classification.