Notes to Accounts of Ashirwad Capital Ltd.

Mar 31, 2025

ii) Estimation of Provisions and Contingent Liabilities

The company exercises judgment in measuring and recognising provisions and the exposures to contingent liabilities, which is related to pending litigation
or other outstanding claims. Judgment is necessary in assessing the likelihood that a pending claim will succeed, or a liability will arise, and to quantify the
possible range of the financial settlement.

Because of the inherent uncertainty in this evaluation process, actual liability may be different from the originally estimated as provision. Although there can
be no assurance of the final outcome of the legal proceedings in which the company is involved, it is not expected that such contingencies will have a material
effect on its financial position or profitability.

iii) Estimation of useful life of Property, Plant and Equipment and Intangible assets

Property, Plant and Equipment and Intangible assets represent a significant proportion of the asset base of the company. The charge in respect of periodic
depreciation is derived after determining an estimate of an asset‘s expected useful life and the expected residual value at the end of its life. The useful lives
and residual values of company‘s assets are determined by management at the time the asset is acquired and reviewed periodically, including at each finan¬
cial year end. The useful lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such
as changes in technology.

iv) Estimation of provision for inventory

The company writes down inventories to net realisable value based on an estimate of the realisability of inventories. Write downs on inventories are recorded
where events or changes in circumstances indicate that the balances may not realised. The identification of write-downs requires the use of estimates of net
selling prices of the down-graded inventories. Where the expectation is different from the original estimate, such difference will impact the carrying value of
inventories and write-downs of inventories in the periods in which such estimate has been changed.

v) Impairment of Trade Receivable

The impairment provisions for trade receivable are based on assumptions about risk of default and expected loss rates. The company uses judgment in
making these assumptions and selecting the inputs to the impairment calculation, based on the company’s past history, existing market conditions as well as
forward looking estimates at the end of each reporting period.

III. B New accounting standards/ amendments adopted during the reporting period

Following are the amendments to existing standards which have been issued by The Ministry of corporate Affairs (-MCA) that are effective for the reporting period
and have been adopted by the company:

a) Amendments to Ind AS 115, Revenue from contracts with customers:

Ind AS 115, Revenue from contracts with customers deals with revenue recognition and establishes principles for reporting useful information to users of
financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity‘s contracts with customers. Revenue is
recognized when a customer obtains control of a promised good or service and thus has the ability to direct the use and obtain the benefits from the good or
service in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The standard replaces
Ind AS 18 Revenue and related appendices.

A new five-step process must be applied before revenue can be recognized:

1. identify contracts with customers

2. identify the separate performance obligation

3. determine the transaction price of the contract

4. allocate the transaction price to each of the separate performance obligations, and

5. recognise the revenue as each performance obligation is satisfied.

The Company has adopted Ind AS 115 ‘Revenue from Contracts with Customers’ with the date of initial application being April 1, 2018. Ind AS 115 establishes
a comprehensive framework on revenue recognition. Ind AS 115 replaces Ind AS 18 ‘Revenue’ and Ind AS 11 ‘Construction Contracts’. The application of Ind
AS 115 did not have material impact on the financial statements. As a result, the comparative information has not been restated.

b) Amendments to Appendix B to Ind AS 21 Foreign currency transactions and advance consideration:

Appendix B to Ind AS 21 ‘The Effects of Changes in Foreign Exchange Rates’: On March 28, 2018, Ministry of Corporate Affairs (“MCA”) has notified the
Companies (Indian Accounting Standards) Amendment Rules, 2018 containing Appendix B to Ind AS 21, Foreign currency transactions and advance consid¬
eration which clarifies the date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense
or income, when an entity has received or paid advance consideration in a foreign currency. The amendment is effective from April 1, 2018. The Company
has evaluated the effect of this amendment on the financial statements and concluded that the impact is not material.

B New Standards/Amendments issued by MCA but not adopted

a) Amendments to Ind AS 12 Income taxes regarding recognition of deferred tax assets on unrealised losses:

Amendment to Ind AS 12 ‘Income Taxes’: On March 30, 2019, the Ministry of Corporate Affairs has notified limited amendments to Ind AS 12 ‘Income Taxes’.
The amendments require an entity to recognise the income tax consequences of dividends as defined in Ind AS 109 when it recognises a liability to pay a
dividend. The income tax consequences of dividends are linked more directly to past transactions or events that generated distributable profits than to dis¬
tributions to owners. Therefore, an entity shall recognize the income tax consequences of dividends in profit or loss, other comprehensive income or equity
according to where the entity originally recognised those past transactions or events. The amendment will come into force for accounting periods beginning
on or after April 1, 2019.

Explanatory notes: :

- Company is Debt Free.

- Return on Investment ratio decreased due to decrease in profit from investment.

- The Return on equity Ratio decreased due to decrease in the operating profit.

24. Previous year figures have been reclassified to conform to this year’s classification.

As per our report of even date attached For and on behalf of the Board.

For Sanjay Raja Jain & Co. Dinesh Poddar Rajesh Poddar

Chartered Accountants Chairman and Managing Director Director

FRN - 120132W [DIN : 00164182] [DIN : 00164011]

Sanjay Raja Jain Kinjal Hiranandani Sunil Bhiwandkar

(Partner) Company Secretary Chief Financial Officer

M.No. 108513 [M.No-A56956] [PAN: AIXPB0946R]

UDIN : 25108513BMOLFG3779

Place : Mumbai.

Date : 28th May, 2025.

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Mar 31, 2024

Explanatory notes: :

-    Company is Debt Free.

-    Return on Investment ratio increased due to increase in profit from investment.

-    The Return on equity Ratio increased due to increase in the operating profit.

22. Previous year figures have been reclassified to conform to this year’s classification.

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Mar 31, 2015

1. There is no separate reportable segment as per Accounting Standard - 17 on Segment Reporting issued by the Institute of Chartered Accountant of India.

2. There was no employee who was employed throughout the year and was in the receipt of remuneration of more than Rupees 24 Lacs per annum or of not more than Rupees 2 Lacs per month.

3. Previous year figures have been reclassified to conform to this year's classification.

4. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2012

Not Avaliable

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Mar 31, 2011

1. Figures of previous year have been regrouped, recasted and rearranged wherever necessary.

2. As informed by the Directors of the Company there are no Contingent Liabilities.

3. In the opinion of management the current assets, Loans and Advances are approximately of the value stated if realised in ordinary course of business.

4. There is no separate reportable segment as per Accounting Standard – 17 on Segment Reporting issued by the Institute of Chartered Accountant of India.

5. Information pertaining to related party disclosures as required under A.S. – 18 issued by the Institute of chartered Accountants of India is enclosed herewith

6. Earning per Share:

Basic & diluted earning per share has been calculated by dividing Net Profit after tax for the year as per accounts, which is attributable to equity shareholder, i.e. 4,00,00,000 No. of equity shares outstanding during the last year for the current year.

7. (a) Net Deferred Tax Liability of Rs. 1,39,572/-has been recognized and charged to the profit & Loss A/c.

8. There are no internal or external indication of assets being impaired during the year. Hence no provision has been made as per accounting standard 28 on Impairment of Asset issued by the Institute of Chartered Accountants of India.

Other additional information required pursuant to part II of Schedule VI to the Companies Act, 1956 are not applicable.

The schedules and notes referred to above form an integral part of Accounts

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Mar 31, 2010

1. Figures of previous year have been regrouped, recasted and rearranged wherever necessary.

2. As informed by the Directors of the Company there are no Contingent Liabilities.

3. In the opinion of management the Current Assets, Loans and Advances are approximately of the value stated if realised in ordinary course of business.

4. Payment to Auditors:- Current Period Previous Year Auditfees Rs. 82,575 Rs. 56,180

5. There is no separate reportable segment as per Accounting Standard -17 on Segment Reporting issued by the Institute of Chartered Accountant of India.

6. Information pertaining to related party disclosures as required under A.S - 18 issued by The Institute of Chartered Accounts of India is enclosed herewith.

7. Earning per Share:

Basic & diluted earning per share has been calculated by dividing Net Profit after tax for the year as per accounts, which is attributable to Equity Shareholders i.e.4,00,00,000 No. of Equity shares outstanding during the last year for the current year.

8. There are no internal or external indication of assets being impaired during the year. Hence, no provision has been made as per Accounting Standard 28 on Impairment of Asset issued by the Institute of Chartered Accountants of India.

Other additional information required pursuant to part II of Schedule VI to the Companies Act, 1956 are not applicable.