Notes to Accounts of Arman Holdings Ltd.

Mar 31, 2025

Accounting of provisions and contingent liabilities and contingent assets

Provisions are recognized, when there is a present legal or constructive obligation as a result of past events, where it is
probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the
obligation can be made. Where 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. Where the effect is material, the provision is discounted to net
present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included
in finance costs.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or
non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any
present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the
obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow
of resources are provided for.

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

Current tax assets and current tax liabilities are off set when there is a legally enforceable right to set off the recognized
amounts and there is an intention to settle the asset and the liability on a net basis. Income taxes consist of current taxes
and changes in deferred tax liabilities and assets.

Deferred tax

Deferred income tax is recognised using the Balance Sheet approach. Deferred income tax assets and liabilities are
recognized 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 utilized.

The carrying amount of a deferred tax asset shall be 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 utilized.

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 realized or the
deferred tax liability is settled.

Deferred tax assets and liabilities are off set when there is a legally enforceable right to offset current tax assets and
liabilities and when the deferred tax balances relate to the same taxation authority.

Earnings per Share

Basic earnings per equity share are computed by dividing the net profit attributable to the equity holders of the company by
the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed
by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity
shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that
could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are
adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value
of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period,
unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented.

The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for
any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by
the Board of Directors

Cash flow statement

Cash flows are reported using the indirect method set out in Indian Accounting Standard-7 (IND AS-7) on Cash Flow
Statements, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or
accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or
financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.
Cash and cash equivalents presented in the Cash Flow Statement consist of cash on hand and balances in Current Accounts
with Banks.

Segment Reporting

An Operating Segment is defined as a component of the entity that represents business activities from which it earns
revenues and incurs expenses and for which discrete financial information is available. The operating segments are based

on the Company''s internal reporting structure and the manner in which operating results are reviewed by the Chief
Operating Decision Maker (CODM). The Chief Operating Decision Maker is the Managing Director of the company.

Foreign Exchange Translation

(i) Functional and Presentation Currency

Items included in the financial statements of the Company are measured using the currency of the primary economic
environment in which the company operates (the functional currency). The financial statements are presented in Indian
rupee (INR). which is Company''s functional and presentation currency.

(ii) Transactions anti Balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the
transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation
of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in
profit & loss. All the foreign exchange gains and losses are presented in the statement of Profit and Loss on a net basis
within other expenses or other income as applicable.

Other Notes to the Accounts:

• During the financial year 2024-25, there are not any transactions with any suppliers /parties who are covered under
''The Micro Small and Medium Enterprises Development Act. 2006.''

• There were no contracts or arrangements made with related parties during the year under review.

• The Key Managerial Personnel are the Managing Director, CFO and Company Secretary Cum Compliance Officer,
whose names are mentioned in the Corporate Governance Report.

• All Amounts disclosed in the financial statements and notes have been rounded off to the nearest Rupees (upto two
decimals), unless otherwise stated as per the requirement of Schedule III (Division II).

Recent Accounting Pronouncements

The Ministry of Corporate Affairs [MCA] notifies new standards or amendments to the existing standards under
Companies [Indian Accounting Standards] Rules as issued from time to time. During the year ended March 31, 2025,
MCA has notified amendments to Ind AS 116 - Leases relating to sale and lease back transactions, applicable from April
1, 2024. The Company has reviewed the new amendments and based on evaluation there is no significant impact on its
financial statements.

On May 7, 2025, MCA notifies the amendments to Ind AS 21 - Effects of Changes in Foreign Exchange Rates. These
amendments aim to provide clearer guidance on assessing currency exchangeability and estimating exchange rates when
currencies are not readily exchangeable. The amendments are effective for the year beginning from April 1, 2025. The
Company has reviewed the new amendments and based on evaluation there is no significant impact on its financial
statements.

(ii) Terms/ rights attached to Equity Shares.

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each
shareholder is entitled to one vote per share. The company declares and pays dividend in Indian
Rupees. In the event of liquidation of the company, the holders of the equity shares will be entitled
to receive the remaining assets of the company, after distribution of all preferential amounts. The
distribution will be in proportion to the numbers of equity shares held by the shareholders. The
company has not declared any dividend for the year ended 31st March 2025.

24 OTHER NOTES TO FINANCIAL STATEMENTS

i) During the financial year 2024-25, there was no transactions with any suppliers/ parties who are covered
under "The Micro Small and Medium Enterprises Development Act, 2006"

ii] The company is exposed to market risk and credit risk. The Company has a risk management policy and an appropriate risk governance
framework for the company. The audit committee provides assurance to the Company''s management that the Company''s risk activities are
governed by appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company''s policies
and risk objectives.

dhkldfs

a. Market Risk

Market risk is the risk due to which the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices.
Market risk comprise of two types of risk: Interest rate, currency risk and other price risk, such as commodity price risk and equity price risk.
Financial instruments affected by market risk include FVTPL investments, trade payables, trade receivables, etc.

The company has made long term investments in unquoted equity shares. The Company has fairly valued the investments under level 3 Valuation
technique as stated in significant accounting policies.

In the opinion of the Board, all the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal
to the amount stated in the Balance Sheet and all the known laibilities have been provided for, unless otherwise stated elsewhere in other notes.

b. Credit Risk

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

The Company has Other Receivables which are outstanding for a considerable period of time and considered good for recovery by the
management On the basis of past experience of trade receivables, there was no bad debt All the existing customers has good market value,
therefore management has decided not to maintain expected credit loss allowance.

Certain Debit Balances as stated in the financial statements are being subject to confirmation and reconciliation thereof, and the same have been
taken as per the balancesappearing in the books. The consequent necessary adjustments, either of a revenue nature or otherwise, if any, will be
made, as and when these accounts are reconciled and confirmed.

The company is involved in carrying and undertaking business of trading, exporting, importing, wholesaling, exhibiting, buying and selling of
Textile Products, Precious Metal & Stones and Plastic & related products. Hie company identifies these business segments as the primary segment
as per Ind AS 108 - Operating Segments, which is regularly reviewed by the Chief Operating Decision Maker for assessment of company''s
performance and resource allocation. Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts
identifiable to each of the segments The company does not have any material operations outside India and hence disclosure of geographic
segments is not applicable.

In compliance with the Accounting Standard Ind AS-12 relating to "Income Tax" issued by The Institute of Chartered Accountants of India, the
26 Company had provided for Deferred Tax Assets arising out of timing difference on depreciation amounting to X 1891/-. Accordingly, the said item
has been credited to the Statement of Profit & Loss for the year under report (Refer Note No. 5).

’ 27 Additional Regulatory Information as per Schedule III of Companies Act, 2013:

a. The company has NIL liabilities associated with group of assets classified as held for sale and non-current assets classified as held for sale.

b. The Company has not declared any dividend on Equity shares. The Company has not issued any Preference shares.

c. The Company has not issued securities for specific purpose.

k. During the year no Scheme of Arrangement has been formulated by the Company or pending with competent authority.

l. No funds have been advanced or loaned or invested [either from borrowed funds or share premium or any other sources or kind of funds] by
the Company to or in any other personfs] or entity(ies), including foreign entities ("Intermediaries”) with the understanding, whether recorded in
writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

m. The Company has not received any fund from any party(s) (Funding Party) with the understanding thatthe Company shall whether, directly or
indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

n. The Company has neither applied any accounting policy retrospectively, made restatement of items of financial statement nor reclassified items
of its financial statement

o. There is no share application money pending allotment in books of the Company during the year.

p. The Company has not issued preference shares since inception of the Company.

q. During the year under review, the Company has not issued any Compound financial instruments such as convertible debentures.

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

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

t The Company has no Regulatory Deferral Account Balance.

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

'' The company''s accounting software has audit trail functionality (edit log). This feature remained operational throughout the year, capturing a
chronological record of all relevant transactions processed within the software.

The previous year''s figures have been regrouped / rearranged wherever necessary to make it comparable with the current year. All amounts
disclosed in the financial statements are in Indian Rupees untill and unless stated.

The Notes referred to above thereon form a integral part of Financial Statements.

As per our report attached of even date

For and on Behalf of

For HR| & ASSOCIATES Arman Holdings Limited

Chartered Accountants
Firm Regn. No. 13B235W

Sd/- Sd/- Sd/-

(C.A. Sunil Sharma) Deepak Kumar Babel Pradeep Kumar Jain

Partner Managing Director Director

Membership No. 190683 DIN-05200110 DIN: 07284354

UD1N: 25123006BMNRE02563

Place: Surat Sd/- Sd/-

Date: 29/05/2025 Drishti Singhal Ayush Jain

Company Secretary Chief Financial Officer

ACS-35366 PAN:AXBPJ7621A

---

Mar 31, 2024

Accounting of provisions and contingent liabilities and contingent assets

Provisions are recognized, when there is a present legal or constructive obligation as a result of past events, where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made. Where 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. Where the effect is material, the provision is discounted to net present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included in finance costs.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable. 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 recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax arc 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.

Current tax assets and current tax liabilities are off set when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle the asset and the liability on a net basis. Income taxes consist of current taxes and changes in deferred tax liabilities and assets.

Deferred tax

Deferred income tax is recognised using the Balance Sheet approach. Deferred income tax assets and liabilities are recognized 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 utilized.

The carrying amount of a deferred tax asset shall be 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 utilized.

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 realized or the deferred tax liability is settled.

Deferred tax assets and liabilities are off set when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority.

Earnings per Share

Basic earnings per equity share are computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity

shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented.

The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by the Board of Directors

Cash flow statement

Cash flows are reported using the indirect method set out in Indian Accounting Standard-7 (IND AS-7) on Cash Flow Statements, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated. Cash and cash equivalents presented in the Cash Flow Statement consist of cash on hand and balances in Current Accounts with Banks.

Segment Reporting

An Operating Segment is defined as a component of the entity that represents business activities from which it earns revenues and incurs expenses and for which discrete financial information is available. The operating segments are based on the Company’s internal reporting structure and the manner in which operating results are reviewed by the Chief Operating Decision Maker (CODM). The Chief Operating Decision Maker is the Managing Director of the company.

Foreign Exchange Translation

(i) Functional and Presentation Currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the company operates (the functional currency). The financial statements are presented in Indian rupee (INR), which is Company’s functional and presentation currency.

(ii) Transactions and Balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in profit & loss. All the foreign exchange gains and losses are presented in the statement of Profit and Loss on a net basis within other expenses or other income as applicable.

Other Notes to the Accounts:

• During the financial year 2023-24, there are not any transactions with any suppliers /parties who are covered under ‘The Micro Small and Medium Enterprises Development Act, 2006. ’

• There were no contracts or arrangements made with related parties during the year under review.

• The Key Managerial Personnel are the Managing Director, CFO and Company Secretary Cum Compliance Officer, whose names are mentioned in the Corporate Governance Report.

• All Amounts disclosed in the financial statements and notes have been rounded off to the nearest Rupees (upto two decimals), unless otherwise stated as per the requirement of Schedule III (Division II).

(ii) Terms/ rights attached to Equity Shares.

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each shareholder is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. In the event of liquidation of the company, the holders of the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the shareholders. The company has not declared any dividend for the year ended 31st March 2023.

(iii) The Company does not have any Holding Company.

24 OTHER NOTES TO FINANCIAL STATEMENTS

i) During the financial year 2023-24, there was no transactions with any suppliers/ parties who are covered ."under "The Micro Small and Medium Enterprises Development Act, 2006

ii) The company is exposed to market risk and credit risk. The Company has a risk management policy and an appropriate risk governance framework for the company. The audit committee provides assurance to the Company''s management that the Company''s risk activities are governed by appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

a. Market Risk

Market risk is the risk due to which the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise of two types of risk: Interest rate, currency risk and other price risk, such as commodity price risk and equity price risk Financial instruments affected by market risk include FVTPL investments, trade payables, trade receivables, etc.

The company has made long term investments in unquoted equity shares. The Company has fairly valued the investments under level 3 Valuation technique as stated in significant accounting policies.

In the opinion of the Board, all the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known laibilities have been provided for, unless otherwise stated elsewhere in other notes.

b. Credit Risk

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

The Company has Other Receivables which are outstanding for a considerable period of time and considered good for recovery by the management On the basis of past experience of trade receivables, there was no bad debt All the existing customers has good market value, therefore management has decided not to maintain expected credit loss allowance.

Certain Debit Balances as stated in the financial statements are being subject to confirmation and reconciliation thereof, and the same have been taken as per the balances appearing in the books. The consequent necessary adjustments, either of a revenue nature or otherwise, if any, will be made, as and when these accounts are reconciled and confirmed.

iii) RELATED PARTY DISCLOSURES

Names of related parties and description of relationship

(a.) Key Management Personnel Executive Director Mr Deepak Kumar Babel

CFO Mr Ayush Jain

Company Secetary Mrs Drishti Singhal

Non Executive Director Mrs Priyadarshani Deepak Babel

Independent Directors Mr Abhishek Tejawat

Mr Pradeepkumar Mithalal Jain

(b.) Promoter, directors having control / significant influence over the company. Mr Deepak Kumar Babel

(c.) Entities in which the promoter, directors have control/significant influence Manasvini Trading (P) Limited

25 SEGMENT REPORTING

The company is involved in carrying and undertaking business of trading, exporting, importing, wholesaling, exhibiting, buying and selling of Textile Products, Precious Metal & Stones and Plastic & related products. The company identifies these business segments as the primary segment as per Ind AS 108 - Operating Segments, which is regularly reviewed by the Chief Operating Decision Maker for assessment of company’s performance and resource allocation. Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segments. The company does not have any material operations outside India and hence disclosure of geographic segments is not applicable.

In compliance with the Accounting Standard Ind AS-12 relating to "Income Tax" issued by The Institute of Chartered Accountants of India, the Company had provided for Deferred Tax Assets arising out of timing difference on depreciation amounting to ^ 1891/-. Accordingly, the said item has been credited to the Statement of Profit & Loss for the year under report (Refer Note No. 5).

27 Additional Regulatory Information as per Schedule III of Companies Act, 2013:

a. The company has NIL liabilities associated with group of assets classified as held for sale and non-current assets classified as held for sale.

b. The Company has not declared any dividend on Equity shares. The Company has not issued any Preference shares.

c. The Company has not issued securities for specific purpose.

d. The Company has not borrowed any funds from banks and financial institutions for the specific or any other purpose.

e. No procedings have been initiated or pending against Company for holding any Benami Property under Prohibitions of Benami Transactions Act, 1988 (Earliers titled as Benami transactions (Prohibitions) Act, 1988.

f. The Company is not declared a wilfull defaulter by any Bank or Financial Institution or any other lender.

g. The Company did not have any transactions with companies struck off under Section 248 of the Companies Act

h. The company has not registered any charge or satisfaction of charge with ROC.

i. The Company has no Holding, Subsidiary or associate company and hence the company does not have any layers prescribed under clause 87 of sub section 2 of companies act, 2013.

j. Financial Ratios

l. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

m. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

n. The Company has neither applied any accounting policy retrospectively, made restatement of items of financial statement nor reclassified items of its financial statement

o. There is no share application money pending allotment in books of the Company during the year.

p. The Company has not issued preference shares since inception of the Company.

q. During the year under review, the Company has not issued any Compound financial instruments such as convertible debentures.

The previous year''s figures have been regrouped / rearranged wherever necessary to make it comparable with the current year. All amounts disclosed in the financial statements are in Indian Rupees untill and unless stated.

The Notes referred to above thereon form a integral part of Financial Statements.

As per our report attached of even date

For and on Behalf of For and on Behalf of

H RJ & ASSOCIATES Arman Holdings Limited

Chartered Accountants Firm Regn. No. 138235W

Sd/- Sd/- Sd/-

(C.A. Hitesh Jain) Deepak Kumar Babel Pradeep Kumar Jain

Partner Managing Director Director

Membership No. 123006 DIN:05200110 DIN: 07284354

Membership No. 123006 Sd/- Sd/-

UDIN: 24123006BKEQJA7089 Ayush Jain Drishti Singhal

Place:Surat Chief Financial Officer Company Secretary

Date: 30-05-2024 PAN:AXBPJ7621A ACS-35366

---

Mar 31, 2018

1. CORPORATE INFORMATION

Arman Holdings Limited (“the Company”) was incorporated in India on 25 October 1982. The Company is involved in carrying and undertaking the business of trading, exporting, importing, wholesaling, exhibiting, buying and selling and otherwise dealing in Chemicals, textiles, paper, oil, cement, plastic, automobile, Jute, tea, sugar, gold, diamonds, precious stones, ferrous and non ferrous metals, electronic and electronic goods and handicrafts and all other sorts of merchandises and to carry on in any mode, and in particulars to buy, sell and deal in goods, stores, consumable articles, chattles and effect of all kinds both wholesale and retail and loans and investments of land, shares, debentures, etc.

The Registered Office of company is as follow: 419, Rajhans Heights, Mini Bazar, Varachha Road, Surat- 395006.

The accompanying financial statements are prepared to reflect the results of the activities undertaken by the Company during the year ended 31 March 2018.

2. Other Notes to the Accounts;

- During the financial year 2017-18, there are not any transactions with any suppliers /parties who are covered under ‘The Micro Small and Medium Enterprises Development Act, 2006.’

- There were no contracts or arrangements made with related parties during the year under review.

- The Key Managerial Personnel are the Whole Time Director, CFO and Company Secretary Cum Compliance Officer, whose names are mentioned in the Corporate Governance Report.

- Additional Information as required under paragraph 5 of Part II of Schedule III to the Companies Act, 2013 to the extent either “NIL” or “Not Applicable” has not been furnished except payment to the Auditors.

Footnote:-

a. The credit period range from 15 days to 180 days.

b. No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other person. Nor any trade or other receivables are due from firms or private companies respectively in which any director is a

c. On the basis of past experience of trade receivables, there was no bad debt. All the existing customers has good market value, therefore management has decided not to maintain expected credit loss allowance.

(ii) Terms / rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each shareholder is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. In the event of liquidation of the company, the holders of the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the shareholders. The company has not declared any dividend for the year ended 31st March 2018.

(iii) The company does not have any Holding Company.

(iv) Details of shareholders holding more than 5% of the aggregate shares in the Co. as on 31/03/2018

(v) There are NIL (PY-NIL) shares reserved for issue under option and contracts/ commitment for the sale of shares/ disinvestment.

(vi) There are NIL (PY-NIL) securities convertible into equity/ preference shares.

(vi) There are NIL (PY-NIL) calls unpaid including calls unpaid by Directors and Officers as on the Balance Sheet date.

(vii) During the period of five years immediately preceeding the reporting date:

a. No shares were issued for consideration other than cash.

b. No bonus shares were issued.

c. No shares were bought back.

3. OTHER NOTES TO FINANCIAL ASSETS

i. During the financial year 2017-18, there was no transactions with any suppliers/ parties who are covered under "The Micro Small and Medium Enterprises Development Act, 2006".

ii. The company is exposed to market risk and credit risk. The Company has a risk management policy and an appropriate risk governance framework for the company. The audit committee provides assurance to the Company''s management that the Company''s risk activities are governed by appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

a. Market Risk

Market risk is the risk due to which the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise of two types of risk: Interest rate, currency risk and other price risk, such as commodity price risk and equity price risk. Financial instruments affected by market risk include FVTPL investments, trade payables, trade receivables, etc.

The company has made long term investments in unquoted equity shares. The Company has fairly valued the investments under level 3 Valuation technique as stated in significant accounting policies.

In the opinion of the Board, all the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for, unless otherwise stated elsewhere in other notes.

b. Credit Risk

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

The company as Receivables which have a credit period range from 15 to 180 days. On the basis of past experience of trade receivables, there was no bad debt. All the existing customers has good market value, therefore management has decided not to maintain expected credit loss allowance.

4. FIRST TIME ADOPTION OF IND AS

These are the Company’s first financial statements prepared in accordance with Ind AS.

The significant accounting policies set out in note 2 have been applied in preparing the financial statements for the year ended 31st March, 2018, the comparative information presented in these financial statements for the year ended 31st March, 2017, and in the preparation of an opening Ind AS balance sheet at 1st April, 2016 (the Company’s date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and the other relevant provisions of the Act (previous GAAP or Indian GAAP).

Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions applied in the transition from previous GAAP to Ind AS

Ind AS optional exemptions

-Deemed cost

The Company has elected to measure all of its property, plant and equipment at their previous GAAP carrying value i.e deemed cost.

The Company has elected to measure all of its investments at their previous GAAP carrying value i.e deemed cost.

An explanation of how the transition from Previous GAAP to Ind AS has affected the Company''s financial position, financial performance and cash flow.

Impact of Ind AS adoption on Company''s financial position.

The transition from previous GAAP to Ind AS has no material affect on financial position of company.

Impact of Ind AS adoption on total comprehensive income .

The transition from previous GAAP to Ind AS has not affected the total comprehensive income of the Company.

Impact of Ind AS adoption on the statement of cash flow for the year ended 31st March, 2017.

The transition from previous GAAP to Ind AS has not affected the cash flows of the Company.

5. The previous year’s figures have been regrouped / rearranged wherever necessary to make it comparable with the current year. All amounts disclosed in the financial statements are in Indian Rupees until and unless

The Notes referred to above thereon form a integral part of Financial Statements.

As per our report attached of even date.

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Mar 31, 2015

1. CORPORATE INFORMATION

Arman Holdings Limited ("the Company") was incorporated in India on 25 October 1982. The Company is set up to carry on the business of exporting, importing, wholesaling, exhibiting, buying and selling and otherwise dealing in Chemicals, textiles, paper, oil, cement, plastic, automobile, Jute, tea, sugar, ferrous and non ferrous metals, electronic and electronic goods and handicrafts and all other sorts of merchandises and to carry on in any mode, and in particulars to buy, sell and deal in goods, stores, consumable articles, chattles and effect of all kinds both wholesale and retail.

The accompanying financial statements are prepared to reflect the results of the activities undertaken by the Company during the year ended 31 March 2015.

2. Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3. Contingent Liabilities Nil Nil

4. Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

5. Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India.

6. There are no material transactions with related parties during the year under audit.

7. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

8. Figures have been rounded off to the nearest rupee.

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Mar 31, 2014

1. a Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

b Notes:

1 During the year the Authorised Capital of the company has been increased by Rs. 500 Lacs.

2

Of the above shares, company has issued and alloted the 49,61,500 shares to the promoters and non promoters entities on preferential basis.

3 Of the above shares, company issued the 49,61,500 shares at a price of Rs. 13 per share (At premium of Rs. 3 per share).

c Notes:

During the year company issued 49,61,500 shares of Rs. 10/- each at a premium of Rs. 3/- per share.

Based on the information received and available with the Company, there are no dues outstanding to Micro, Small and Medium enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2. Contingent Liabilities Nil Nil

16 Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

3 Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

4 There are no material transactions with related parties during the year under audit.

5 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

6 Figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1 Contingent Liabilities Nil Nil

2 Balance comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

3 Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

4 There are no material transactions with related parties during the year under audit.

5 Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current years classification / disclosure.

6 Figures have been rounded off to the nearest rupee.

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Mar 31, 2012

A. Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs. 10/- per shares. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.

1 Based on the information received and available with the Company, there are no dues outstanding Micro, Small and Medium enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2 Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments, Necessary adjustment if any will be carried out upon receipt of such confirmations.

3 Related Party disclosure The related parties are identified by the management of the company and relied upon by the auditors.

i) Name of the related parties and description of relationship :

4 Figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. In the opinion of Directors, the current assets, loans and advances have a value on their realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

2. Loans & Advances includes a sum of Rs. 2.00 Lacs (Prev. Yr. 12.15) due from a co. in which a Director is interested as Director. Maximum amount due at any time during the yr. 12.15 Lacs (Prev. Yr. 16.15).

3. Figure of the previous year have been regrouped/rearranged wherever necessary to made them comparable with figures of the current year.