Notes to Accounts of Ahmedabad Steelcraft Ltd.

Mar 31, 2025

(xvi) Provisions , Contingent Liabilities, Contigent Assets and Commitments

(a) 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. If the effect of the time value of money is material, the
amount of a provision shall be the present value of expense expected to be required to settle the obligation Provisions
are therefore discounted, when effect is material, The discount rate shall be pre-tax rate that reflects current market
assessment of time value of money and risk specific to the liability. Unwinding of the discount is recognised in the
Statement of Profit and Loss as a finance cost. Provisions are reviewed at each balance sheet date and are adjusted to
reflect the current best estimate.

(b) Contingencies

Contingent liabilities are disclosed 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. Information on
contingent liability is disclosed in the Notes to the Financial Statements.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity,
Contingent assets are not recognised, but are disclosed in the notes. However, when the realisation of income is virtually
certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

(xvii) Share capital and Share Premium

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity
as a deduction, net of tax, from the proceeds.

Par value of the equity share is recorded as share capital and the amount received in excess of the par value is classified
as share premium.

(xviii) Revenue Recognition

(a) Sale of goods and Services

Revenue from sale ofgoods is recognised on stisfaction of performance obligation upon transfer of control of promised
productsto customers in an amount that reflects the consideration the Company expects to receive in exchange for
those products.

Revenue from rendering of servicesis recognised over time as and when the customer receives the benefit of the
Company''s performance and the Company has an enforceable right to payment for services transferred.

(b) Other Income

- Interest income

Interest income is recognised on a time proportion basis using the effective interest method. When a receivable is
impaired, the Company reduces the carrying amount to its recoverable amount, being the estimated future cash
flows discounted at the original effective interest rate of the instrument and continues unwinding the discount as
interest income. Interest income on impaired loans is recognised using the original effective interest rate.

- Dividends

Dividend is recognised when the Company''s right to receive the payment is established, which is generally when
shareholders approve the dividend.

(xix) Taxation
Income tax

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year.
Current and deferred taxes are recognised in Statement of Profit and Loss, except when they relate to items that are recognised
in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity, respectively

Current tax

Current tax is measured at the amount of tax expected to be payable on the taxable income for the year as determined in
accordance with the provisions of the Income Tax Act,1961 that have been enacted or subsequently enacted at the end of the
reporting period.

Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised
amounts and there is an intention to settle the asset and the liability on a net basis.

Deferred tax

Deferred income tax assets and liabilities are recognised for deductible and taxable temporary differences arising between
the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial
recognition of an asset or liability in a transaction that is not a business combination and affects neither accounting nor
taxable profit or loss at the time of the transaction.

Deferred tax assets are recognised only to the extent that it is probable that either future taxable profits or reversal of
deferred tax liabilities will be available, against which the deductible temporary differences, and the carry forward of unused
tax credits and unused tax losses can be utilised.

The carrying amount of a deferred tax asset is reviewed at the end of each reporting date and reduced to the extent that
it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset
to be utilised.

Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively
enacted by the end of the reporting period and are expected to apply when the related deferred tax asset is realised or the
deferred tax liability is settled.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities
and when it relates to income taxes levied by the same taxation authority and the Company intends to settle its current tax
assets and liabilities simultaneously.

During the year ended 31 March, 2020, the Government of India vide taxation Laws (Amendment) Tax Ordinance , 2019 has
allowed an option to the domestic companies to switch to a lower tax rate structure of 22 % (25.168 % including surcharge
and cess) from the earlier 30 % (34.944 % including surcharge and cess) subject to the condition that the Company will not
avail any of the speclfied deductions/ incentives under the Income Tax Act, 1961. The Company had opted for this new rate
structure and made current tax/deferred tax Provision with the new rates.

(xx) Provisions

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an
outflow of resources will be required to settle the obligation, in respect of which a reliable estimate of the amount can be
made. Provisions are determined based on best estimate required to settle the obligation at the Balance Sheet date. When
a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present
value of those cash flows (when the effect of the time value of the money is material). The increase in the provisions due to
passage of time is recognised as interest expense. Provisions are reviewed as at each reporting date and adjusted to reflect
the current best estimate.

Contingent liabilities are disclosed 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 are not disclosed in the
financial statements unless an inflow of economic benefits is probable.

(xxi) Earnings per Share

As per Ind AS 33, Earning Per Share, Basic earnings per share are computed by dividing the net profit for the year attributable
to the shareholders'' and weighted average number of shares outstanding during the year. The weighted average numbers
of shares also includes fixed number of equity shares that are issuable on conversion of compulsorily convertible preference
shares, debentures or any other instrument, from the date consideration is receivable (generally the date of their issue) of
such instruments. Diluted earnings per share is computed using the net profit for the year attributable to the shareholder''
and weighted average number of equity and potential equity shares outstanding during the year including share options,
convertible preference shares and debentures, except where the result would be anti-dilutive. Potential equity shares that
are converted during the year are included in the calculation of diluted earnings per share, from the beginning of the year or
date of issuance of such potential equity shares, to the date of conversion.

(xxii) Employee Benefits

Employee benefits include provident fund, employee state insurance scheme, gratuity, compensated absences and
performance incentives.

Provident Fund:

The Company has Defined Contribution plan for the post employment benefits namely Provident Fund which is recognised
by the income tax authorities. These funds are administered through the Regional Provident Fund Commissioner and the
Company''s contributions thereto are charged to Statement of Profit and Loss every year.

Compensated Absences:

Accumulated compensated absences, which are expected to be availed or encashed within 12 months from the end of the
year end are treated as short term employee benefits. The obligation towards the same is measured at the expected cost of
accumulating compensated absences as the additional amount expected to be paid as a result of the unused entitlement as
at the year end.

Accumulated compensated absences, which are expected to be encashed beyond 12 months from the end of the year end
are treated as other long term employee benefits. The Company''s liability is actuarially determined (using the Projected Unit
Credit method) at the end of each year. Actuarial losses/ gains are recognised in the Statement of Profit and Loss in the year
in which they arise.

Gratuity:

The Company has Defined Benefit plan, namely gratuity for employees (unfunded), the liability for which is determined
on the basis of an actuarial valuation (using the Projected Unit Credit method) at the end of each annual reporting period.
Remeasurements, comprising actuarial gains and losses, the effect of the changes to the return on plan assets (excluding net
interest), is reflected immediately in the balance sheet with a charge or credit recognised in other comprehensive income in
the period in which they occur.

(xxiii) Disclosure in respect of operating leases as per IND AS 116 ''Leases''

I nd AS 16 ''Leases'' is applicable to the Company. Lease income from operating lease where the company is a lessor is
recognised as income 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.

(xxiv) Related Party Transactions

Disclosure is being made separately for all the transactions with related parties as specified under IND AS 24 "Related Party
Disclosure" issued by the Institute Chartered Accountants of India.

(xxv) Foreign currency transactions

Transactions in currencies other than functional currency are translated into functional currency at exchange rates ruling at
date of transaction. Monetary assets and liabilities denominated in other currencies are translated into functional currency
at exchange rates prevailing on reporting date.Non-monetary assets and liabilities denominated in other currencies and
measured at historicalcost or fair value are not retranslated.

The investment made in foreign company light work LLC in the form of investment in shares and loans and advances made
is considered as Non-Integral operations. The loan has been translated at closing rate of foreign exchange and the resulted
exchange difference is transfer to and accumulated in a foreign currency translation Reserve account. The exchange difference
on repayment of loan is accounted for and transfer from foreign currency translation account to profit and loss account.

(xxvi) Dividend

Final dividend on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are
recorded as a liability on the date of declaration by the Company''s Board of Directors.

(xxvii) Segment Reporting

The Company primarily engaged in of trading of Steel and Electrical items.Information reported to and evaluated regularly
by the Coperational Decision Maker (CODM) i.e. Managing Director for the purpose of resouce allocation and assessing
performance focuses on the business as whole . The CODM reviews the Company''s performance focuses on the analysis of
profit before tax at an overall entity level. Accordingly, there is no other seperate reportable segment as defined by Ind As
108 "Operating Segments".

(xxvii)The figures appearing in the Financial Statements is rounded off to the nearest lakh or decimals thereof.

NOTE-32 : SEGMENT INFORMATION

The Company primarily engaged in of trading of Steel and Electrical items. Information reported to and evaluated regularly by the
Coperational Decision Maker (CODM) i.e. Managing Director for the purpose of resouce allocation and assessing performance focuses
on the business as whole . The CODM reviews the Company''s performance focuses on the analysis of profit before tax at an overall entity
level. Accordingly, there is no other seperate reportable segment as defined by Ind As 108 "Operating Segments".

NOTE-33 : DISCLOSURE OF RELATED PARTIES/RELATED PARTY TRANSACTIONS PURSUANT TO IND AS 24
"RELATED PARTY DISCLOSURES"

Related parties as defined under para 9 of the Ind AS 24 have been identified on the basis of representation made by the management
and information available with the Company.

A. Nameof Related Parties and Nature of Relationship :

1. Where control exists:

(i) Subsidiary : Nil

(ii) Jointly Controlled Entity : Nil

(iii) Associates :-

(ii) Defined Benefit Plans :

(a) Gratuity: The Company has an unfunded defined benefit gratuity plan which entitles every employee who departs after the
completion of 5 or more years of service to a gratuity calculated at fifteen days salary (last drawn salary) for each completed
year of service, in accordance with the Payment of Gratuity Act, 1972. The same is payable at the time of separation from the
Company or retirement, whichever is earlier. The benefits vest after five years of continuous service.

Risks Associated with Defined Benefit Plans :

Investment risk

The present value of the defined benefit plan liability (denominated in Indian Rupee) is calculated using a discount rate which
is determined by reference to market yields at the end of the reporting period on government bonds. Currently, for the plan
in India, it has a relatively balanced mix of investments in Insurance related products.

Interest Rate Risk

A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the
return on the plan''s debt investments.

Longevity Risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan
participants both during and after their employment. An increase in the life expectancy of the plan participants will increase
the plan''s liability.

Salary Risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As
such, an increase in the salary of the plan participants will increase the plan''s liability.

" The present value of the above defined benefit obligations, and the related current service cost and past service cost, were
measured using the projected unit credit method as at March 31,2025 by an actuary."

NOTE-35

There are no amounts due and outstanding to be credited to Investor Education and Protection Fund as at 31^st March, 2025 except an
amount of ''1.29 Lakhs related to FY 2016-17.

NOTE-36 : CAPITAL MANAGEMENT:

(a) Risk Management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximising the
return to shareholders. The Company maintains a debt free status.

(b) Dividends

The final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim dividends are
recorded as a liability on the date of declaration by the Company''s Board of Directors.

(b) Fair value hierarchy

This section explains the judgements 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 the three levels prescribed under the accounting standard, described as follows:

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

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 is not based on observable market data, the instrument is included in level 3. This
is the case for unlisted equity securities, security deposits included in level 3.

The following table provides the fair value measurement hierarchy of the Company''s financial assets and liabilities that are
measured at fair value or where fair value disclosure is required.

(c) Assets and liabilities which are measured at amortised cost for which fair values are disclosed

All the financial asset and financial liabilities measured at amortised cost, carrying value is an approximation of their
respective fair value.

NOTE-38 : FINANCIAL RISK MANAGEMENT

The Company''s management monitors and manages the financial risks relating to the operations of the Company. These risks include
market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk. The management reviews cash
resources, implements strategies for foreign currency exposures and ensuring market risk limit and policies.

(a) Market risk

Market risk is the risk of any loss in future earnings, in realizable fair values or in future cash flows that may result from a change
in the price of a financial instrument. The value of a financial instrument may change as result of changes in interest rates, foreign
currency exchange rates, equity price fluctuations, liquidity and other market changes. Future specific market movements can not
be normally predicted with reasonable accuracy.

(i) Foreign currency risk management

Foreign exchange risk arises on future commercial transactions and on all recognised monetary assets and liabilities, which
are denominated in a currency other than the functional currency of the Company.

Derivative financial instruments and hedging activity.

The Company does not entered into any derivative instruments for trading or speculative purpose.

(ii) Interest rate risk management

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 rates. The Company''s exposure to the risk of changes in market rates relates primarily to the Company''s investments
in bank deposits. The interest rates for the tenure of the fixed deposits are fixed. However, with the continous decrease in the
returns of the fixed deposits, the income erned on such fixed depositsmay change in future based on the interest rates.

(b) Credit risk management

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the Company''s receivables from customers and loans given. 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 counterparties, taking into account
their financial position, past experience and other factors.

(c) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The objective of
liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as and when required.

The Company''s Policy includes an appropriate liquidity risk management framework for the management of the short-term,
medium-term and long term funding and cash management requirements. The Company manages the liquidity risk by
maintaining adequate cash reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast
and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Maturities of financial liabilities:

The tables below provide details regarding the contractual maturities of non-derivative financial liabilities. The amounts
disclosed in the table are the contractual undiscounted cash flows.

Net debt includes Long term borrowing and Short term borrowing minus Cash and cash equivalents and bank balances.

Net woth includes Shareholde capital and reserve and surplus.

EBIT includes Profit before taxes plus finance cost.

Net sales means revenue from operations.

Capital employed includes total shareholders equity and debt.

NOTE-40 : ADDITIONAL REGULATORY INFORMATION

(a) The Company has not been declared a wilful defaulter by any bank or financial institution or consortium thereof in accordance
with the guidelines on wilful defaulters issued by the RBI.

(b) There are no proceedings initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(f) The Company has neither advanced, loaned or invested funds nor received any fund to/from any person or entity for lending or
investing or providing guarantee to/on behalf of the ultimate beneficiary during the reporting years.

(g) The Company do not have any transaction not recorded in the books of accounts that has been surrendered or not disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961.

(h) The company does not have any relationship with companies struck off (as defined by Companies Act, 2013) and did not enter into
transactions with any such company for the years ended March 31,2025 and March 31,2024.

NOTE-41 : Figures for the previous year have been regrouped/reclassified to confirm to the figures of the current year.

For Prateek Gupta & Company For and on behalf of the Board of Directors

Chartered Accountants For, AHMEDABAD STEELCRAFT LIMITED

Firm Registration No. 016512C

Sd/- Sd/- Sd/-

Prateek Gupta Rohit Pandey Sunil Dutt Pandey

Partner Managing Director Director

(Memb.No. 416552) (DIN:03425671) (DIN:06972473)

Sd/- Sd/-

Place : Ghaziabad (U.P.) Kamlesh Kr. Sharma Kirtan Panchal

Date : 30^th May, 2025 Chief Financial Officer Company Secretary

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Mar 31, 2024

4.10. Borrowing cost

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of these assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in statement of profit and loss in the period in which they are incurred.

4.12. Foreign currency Transactions

a) Foreign currency transactions are recorded at exchange rates prevailing on the date of the transaction. The net gain or loss on account of exchange differences arising on settlement of foreign currency transactions are recognized as income or expense of the period in which they arise. Monetary assets and liabilities denominated in foreign currency as at the balance sheet date are translated at the closing rate. The resultant exchange rate differences are recognized in the statement of profit and loss. Non-monetary assets and liabilities are carried at the rates prevailing on the date of transaction.

b) The investment made in foreign company light work LLC in the form of investment in shares and loans and advances made is considered as Non-Integral operations. The loan has been translated at closing rate of foreign exchange and the resulted exchange difference is transfer to and accumulated in a foreign currency translation Reserve account. The exchange difference on repayment of loan is accounted for and transfer from foreign currency translation account to profit and loss account.

During the year under consideration the Company has withdrawn all the funds from the above mentioned Partnership Firms & LLP and as on 31/03/2024 the company has no outstanding balance from the above mentioned Partnership Firms & LLP and the Company has resigned as partner from all the Partnership firms and LLP.

> Notes Relating to Investment in Light works LLC.

During the F.Y. 2023-24, there is neither any new investment / conversion / sale made by the Company of Equity Shares (Common Share) of US $ 1 each fully paid up of Light works LLC. Further, the Company has also given loan to Light works LLC. Company has made total investment of 7,30,697 US$ the details of which are as under:

Section 129 (3) of the companies Act 2013, requires preparation of consolidated financial statement of the Company and of all the subsidiaries including associate company and joint venture businesses in the same form and manner as that of its own. Indian Accounting Standard (Ind AS) 28 on accounting for Investments in Associates in consolidated Financial Statements defines Associate as an entity, including an unincorporated entity such as a partnership, over which the investor has significant influence and that is neither a subsidiary nor an interest in a joint venture. It mentions that if an investing party holds, directly or indirectly through intermediaries, 20 per cent or more of the voting power of the enterprise, it is presumed that the investing party does have significant influence, unless it can be clearly demonstrated that this is not the case.

The Company holds investment in the Light Works LLC which by ownership are deemed to be an associate company.

However, the Company does not exercise significant influence in the above mention entity, as demonstrated below:

i) The Company does not have any representation on the board of directors or corresponding governing body of the investee.

ii) The Company does not participate in policy making process.

iii) The Company does not have any material transaction with the investee.

iv) The Company does not interchange any managerial personnel.

v) The Company does not provide any essential technical information to the investee.

vi) As these are not investments strategic to the core business of Ahmedabad Steel Craft Limited, these are intended to be divested/liquidated in the near future.

As the interests in above enterprise originated for investment purposes and are not of sufficient proportions for the company to be able to control or exercise significant influence on decisions of the investee, these are not being construed as associate company for the purpose of consolidation and therefore it has not been consolidated in the financial statement of the company.

The "Lightworks" LLC /with foreign investment RD: 5204291 has been liquidated and removed from the state register on December 25, 2023 as per Appendix No. 3 of Order No. A/395 of 2021 of the Chairman of the General Authority for State Registration of Mongolia where the company is having investment. As per the Liquidation certificate received from Mongolia, the Company has submitted the related documents to the AD bank HDFC as required under FEMA compliances for disinvestment and written off the Loan given to the Lightwork LLC and Investment in shares of Lightwork LLC, the approval from AD Bank HDFC is yet to be received as on 31.03.2024 and hence no effect has been provided in the books of the company however provision for impairment has been provided for Investment in shares and provision for expected credit loss has been created for loans and advances given along with interest receivable on the loan given .

4.14. Related Party Transactions :

Disclosure of transactions with Related Parties, as required by Ind AS 24 -"Related Party Disclosures" as notified by Ministry of Corporate Affair has been set out in a separate statement annexed to this note in Annexure - A . Related parties as defined under para 9 of the Ind AS 24 have been identified on the basis of representation made by the management and information available with the Company.

4.15.A Accounting Classification and Fair Value Hierarchy Financial Assets and Liabilities:

The Company''s principal financial assets include loans and trade receivables, cash and cash equivalents and other receivables. The Company''s principal financial liabilities comprise of trade and other payables.

Fair Value Hierarchy:

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level-1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level-2: Inputs are other than quoted prices included within Level-1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level-3: Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on the assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

The following tables summaries carrying amounts of financial instruments by their categories and their levels in fair value hierarchy for each year end presented.

4.15.B Financial Instruments and Fair Value Measurement Financial risk management objectives and policies

The Company''s principal financial liabilities comprise of trade and other payables. The Company''s financial assets include trade and other receivables, short term loans & advances and cash & cash equivalents that it derives 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 the Board of Directors that advises on financial risks and the appropriate financial risk governance framework for the Company. This provides assurance to the Company''s senior management that the Company''s financial risk activities are governed by appropriate policies and procedure and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each risk, which are summarized as below:

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.

Interest 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 investment in bank deposits. The interest rates for the tenure of the fixed deposits are fixed. However, with the continuous decrease in the returns on fixed deposits, the income earned on such deposits may change in future based on the interest rates.

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 doesn''t enter into any derivative instrument for trading or speculative purposes.

Foreign Currency sensitivity analysis

The Company is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to US Dollar. The following table details the Company''s sensitivity to a 10% increase or decrease in the Rupees against the relevant foreign currencies. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management''s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes receivables and payable in currency other than the functional currency of the Company.

A 10% strengthening of the INR against key currencies to which the Company is exposed would have led to additional gain in the Statement of Profit and Loss with a corresponding increase in total equity at the end of the reporting period. A 10% weakening of the INR against these currencies would have led to an equal but opposite effect.

Other Price Risk : Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments made by the company in equity instruments and

mutual funds. Majority of investments of the Company are fair valued. The Company invests after considering counterparty risks based on multiple criteria and such risks are monitored at regular intervals.

Credit Risk: Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is having majority of the receivables from foreign parties. The Company is having significant credit risk exposure to receivables from foreign parties.

Liquidity Risk: The Company monitors its risk of a shortage of funds by estimating the future cash flows. The Company''s objective is to maintain a balance between working capital of the company. The Company generates sufficient cash flow from operations to maintain a healthy working capital balance.

The table below summarizes the maturity profile of the Company''s current financial liabilities based on contractual undiscounted payments. [RS. IN LAKH]

Capital management

For the purpose of the Company''s capital management, capital includes all other equity reserves attributable to the members of the Company. The Company strives to safeguard its ability to continue as a going concern so that they can maximize returns for the members. The Company maintains a debt free status.

4.17. Leases

Effective from 1^st April, 2019, Ind AS 116 is applicable to the Company. Lease income from operating leases where the company is a lessor is recognised as income 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.

5. General notes:

i. As regards the other Indian Accounting Standards (Ind AS), they are statutorily applicable to our Company i.e Ahmedabad Steelcraft Limited but as there are no transactions inviting those Indian Accounting Standards (Ind AS), no specific disclosures on the same are made.

ii. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

6. Other Statutory Information

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

2. The Company do not have any transactions with companies struck off under Section 248 of the Companies Act, 2013.

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

5. The Company have not advanced or loaned or invested funds to any other person or entity, 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.

6. The Company have not received any fund from any person or entity, 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.

7. The Company does not have 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.

8. The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority or other lender, in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.

9. Previous year''s figures have been regrouped/reclassified, wherever necessary, to conform to the current year''s classification.

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Mar 31, 2014

1. Previous year''s figures have been regrouped / rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. Managerial Remuneration:

5. Since there are no purchases from S.S.I. Units, there are no outstanding creditors of S.S.I. Units.

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Mar 31, 2013

1. Previous year''s figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. During the year under consideration, an amount of Rs. 3,15,000/- out of total doubtful loans and advances of Rs. 7,00,000/- has been realized during the year through liquidator of insolvent party namely K.P. Textiles. Therefore, the remaining amount of Rs. 3,85,000/- has been written off during the year since not recoverable.

5. Managerial Remuneration:

Details of payment of Remuneration to Managerial personnel in accordance with Schedule XIII of the Companies Act, 1956 included in the Statement of Profit & Loss, are as under.

6. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

7. Notes Relating to Investment in Lightworks LLC.

During the F.Y. 2012-13, there is a conversion of 4,37,500 Preference Shares of US $ 1 each fully paid up into 4,37,500 Equity Shares of US $ 1 each fully paid up of Lightworks LLC. The effect of the said conversion has been duly accounted for in the books of accounts and is reflected in "Note-K Non-Current Investments" of Notes forming part of Accounts for the year ended on 31-03-2013. The exchange rate difference so occurred in such conversion has been accounted for and transferred to Foreign Currency Translation Reserve. Further, the Company has also given loan to Lightworks LLC. Company has received interest on loan given to Lightworks LLC and accounted it in books of account as per accounting policies and requirement of accounting standard. Company has made total investment of 818,197 US$ the details of which are as under:

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Mar 31, 2012

1. Previous years figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. During the year under consideration out of the total loans & advances of Rs. 30,94,992 granted, the company, has written of Rs. 23,94,992 since the management is now no more hopefull of recovery of principal amount.

5. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

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Mar 31, 2011

1. Previous year's figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. The parties to whom loans & advances amounting Rs.30.94.992/- ( P.Y. Rs.30.94?992/-) ha< e been given have defaulted in payment of interest. However the management is hopeful of recover)' of principal amount only.

5. There is a permanent diminution in the value of unquoted shares of Namtech Systems Ltd of Rs.5.50.000/- and in the value of quoted shares of Galaxy Appliances Ltd (Hindustan Credit Capital Ltd) of Rs.29.000/- totaling to Rs.5.79.000/- which has been provided in the books of account.

7. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

8. - The Company has contributed Rs.4,00,00.000/- towards capital in Tesla Properties LLP which has

been shown as '"Investment in the Capital of Partnership Firm'' in Schedule - D "Investments"'. The Company has joined as partner in Tesla Properties LLP with effect from 25.06.2011.

10. During the year 347 no of Common shares of Lightworks LLC - Mongolia, have been received in pursuance of merger of Mongolian Company - Lightworks LLC and other Mongolian Company - AltomineLLC.

11. Notes Relating to Investment in Lightworks LLC.

The Company has made 50% investment in Common Shares and Preference share of Lightworks LLC. Company has also given loan to Lightworks LLC. Company has received interest on loan given to Lightworks LLC and accounted it in books of account as per accounting policies and requirement of accounting standard. Company has made total investment of 924,1001 JS$ the details of which are as under.

13. Information as per part IV of Schedule VI to the Companies Act, 1956.

1) Registration No. 11500 State Code 04 Balance Sheet Date : 31/03/2011

2) Capital raised during the year (Amount in Rupees thousand) Public issue Rs.Nil Right issue Rs.Nil Bonus issue Rs.Nil Private placement Rs.Nil

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Mar 31, 2010

1. Previous years figures have been regrouped/rearranged wherever necessary to make them comparable with current years figure.

2. Figures have been rounded off to the nearest Rupees for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. The parties to whom loans & advances amounting Rs. 30,94,992/- have been given have defaulted in payment of interest. However the management is hopeful of recovery of principal amount only.

5. Director have been paid fixed monthly remuneration as minimum remuneration as per Schedule X11I to the Companies Act, 19.56 therefore the computation ot net profit for the purpose of Directors remueration u/s 349 of the Companies Act, 1956 is not necessary.

6. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

7. The Company as a partner has made investment of Rs.1,92,50.000/- in the capital of AavkarRealty and the Companys profit sharing ratio is 46% in Aavkar Realty.

8. Information as per part IV of Schedule VI to the Companies Act, 1956.

(1) Registration No. 11500 State Code 04 Balance Sheet Date : 31-3-2010

(2) Capital raised during the year (Amount in Rupees thousand) Public issue Rs. Nil Right issue Rs. Nil

Bonus issue Rs. Nil Private Placement Rs. Nil

(5) Generic names of three principal products/service of Company (as per monetary terms) Item Code No. (ITC Code) 72.16 Product description Mild Steel Door, Windows and Ventilator Sections.