Notes to Accounts of Jyotirgamya Enterprises Ltd.

Mar 31, 2025

11. Contingent Liabilities

The company had no contingent liabilities during the year

12. Capital and other Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of
advance) arc: March 31. 2025 1NR Nil (March 31, 2024: INR Nil)

13. Related Party Disclosure

To comply with the requirements of Ind AS — 24 on “Related Party Disclosures”, the following disclosures are
given.

a. Name of Related Parties __

Enterprises controlled by Jvotirgamva Enterprises Limited ,

Nil

Associates x-"—~—^ rvV.'' )•''/

m-

!4. Segments

Identification of segments

The Company''s operating businesses arc organized and managed according to the nature of products and
services provided, with each segment representing a strategic business unit that otters dilterent products and
serves different markets. The analysis of geographical segments is based on the areas in which major operating
divisions of the Company operate.

Business segments:

The primary reporting of the Company has been performed on the basis of business segment. The Company has
only one reportable business segment, which is, manufacturing of auto components for four-wheeler industry.
Accordingly, the amounts appearing in these financial statements relate to the manufacturing of auto
components segment.

As the Company has only one reportable segment, the disclosure requirement of Ind AS -108 ‘Operating
Segment'' is not applicable for primary segment reporting.

Secondary segmental reporting is performed on the basis of the geographical location of customers.
Accordingly, geographical revenues and carrying amount of assets are segregated based on the location of the
customer.

As the Company has only one reportable geographical segment, the disclosure requirement of Ind AS -108
''Operating Segment'' is not applicable for secondary segment reporting.

15. Capital Management

For the purpose of the Company’s capital management, capital includes issued equity capital and all other
equity icsetves altiibutable to the equily holdets of the company. The piimaiy objective of the Company’s
capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions
and the requirements of the financial covenants.

To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders,
return capital to shareholders or issue new shares. The Company monitor capital using a gearing ratio, which is
net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans
and borrowings, trade and other payables, less cash and short-term deposits.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.
The Company''s policy is to keep the gearing ratio between 20% and 40%. The Company includes within net
debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to
ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital
structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call
loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and
borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended 31
March 2024 and 31 March 2025.

16. Fair Value

a) The comparison of carrying value and fair value of financial instruments by categories that are not
measured at fair value arc as follows:

The Company assessed that investment in bond, trade receivables, cash and cash equivalents, other bank
balances, loans, other financial assets, trade payables and other financial liabilities are considered to be the
same as their fair values, due to their short term nature.

The following methods and assumptions were used to estimate the fair values:

The fair value of the financial assets and liabilities is included at the amount at which the instrument could
be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The fair values for investments in quoted securities like mutual funds and equity shares are based on price
quotations available in the market at each reporting date.

The fair value of the derivatives are based on mark to market (MTM) values given by the bank

b) Fair Value Hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial
instruments by valuation technique:

Level I: quoted (unadjusted) prices in active markets for identical assets or liabilities

Level 2: other techniques for which all inputs that have a significant effect on the recorded fair value are
observable, either directly or indirectly

Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based
on observable market data

17. Financial Risk Management Objectives and Policies

The financial liabilities comprise borrowings, security deposits, employee advance, trade payables and financial
guarantee. The Company''s principal financial assets include investments, trade receivables, cash and cash
equivalents, other bank balance, derivatives and loans. The Company is exposed to market risk, credit risk and
liquidity risk. The Company ''s senior management oversees the management of these risks. The Board of
Directors reviews and agrees policies for managing each of these risks, which are summarized below.

a) Liquidity risk

Liquidity’ risk is the risk that the Company will encounter in meeting the obligations associated with its
financial liabilities that are settled by delivering cash or another financial asset. The approach of the
Company to manage liquidity is to eusuic, as fai as possible, that these will have sufficient liquidity to meet
their respective liabilities when they are due, under both normal and stressed conditions, without incurring
unacceptable losses or risk damage to their reputation.

b) Credit risk

Credit Risk is the risk that the counter party will not meet its obligation under a financial instrument or
customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating
activities and from its financing activities, including deposits with banks and other financial instruments.

(i) Trade receivables

Customer credit risk is managed by each business unit subject to the Company''s established policy,
procedures and control relating to customer credit risk management. Management evaluate credit
risk relating to customers on an ongoing basis. Receivable control management Department
assesses the credit quality of the customer, taking into account its financial position, past experience
and other factors. The Company provides credit to individuals on exceptional basis only. An
impairment analysis is performed at each reporting date on an individual basis.

(ii) Financial instruments and cash deposit

Credit risk from balances with banks and financial institutions is managed by the Company''s
treasury department in accordance with the Company''s policy. Investments of surplus funds arc
made primarily in mutual funds and risk free bonds. The limits are set to minimize the
concentration of risks and therefore mitigate financial loss through counter party''s potential failure
to make payments. Credit limits of all authorities are reviewed by the management on regular basis.
All balances with banks and financial institutions is subject to low credit risk due to good credit
ratings assigned to the Company.

c) 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 prices comprise three types of risk: currency rate risk, interest rate risk
and other price risks, such as equity price risk and commodity price risk.

(i) Foreign currency'' risk

The Company does not have any foreign currency transaction during the year.

(ii) Interest rate risk

Interest rate 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 risk to the risk of changes in
market interest relates primarily to the Company ''s long term debt obligations with floating interest
rates.

The Company have fixed interest rate on borrowing for vehicles, hence there is no risk for
fluctuation of interest rate.

18. Significant Accounting Judgements. Estimates and Assumptions

The preparation of financial statements requires management to make judgments, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities and the accompanying disclosures.
Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment
to the carrying amount of assets or liabilities affected in future periods.

a) Taxes

Deferred tax assets are recognised for unused tax losses to the extent lhat it is probable that taxable profit
wil 1 be available against which the losses can be utilised. Significant management judgment is required to
determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the
level of future taxable profits together with future tax planning strategies.

Adjustments to "Other Equity" on account of equity component of compound financial instruments, with
regard to redeemable preference shares, have not be considered as part of the transition amount for the
purpose of compulation of MAT under section II5JB of the Income Tax Act, 1961 basis legal opinion
taken by the Company.

h) Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be
measured based on quoted prices in active markets, their fair value is measured using valuation techniques
including the DCF model. The inputs to these models are taken from observable markets where possible,
but where this is not feasible, a degree of judgment is required in establishing fair values.

Assumptions include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in
assumptions about these factors could affect the reported fair value of financial instruments. See note 43
and 44 for further disclosures.

c) Depreciation on property, plant and equipment

Depreciation on property'', plant and equipment is calculated on a straight-line basis using the rates arrived at
based on the useful lives estimated by the management. Considering the applicability of Schedule II of
Companies Act, 2013. the management has re-estimated useful lives and residual values of all its property,
plant and equipment. The management believes that depreciation rates currently used fairly reflect its
estimate of the useful lives and residual values of property, plant and equipment, though these rates in
certain cases are different from lives prescribed under Schedule II of the Companies Act, 2013.

19. Debtors and Creditors balances are subject to confirmation. Further, in the opinion of the Board and to the best
of their knowledge the value of realization of Current Assets. Loans & Advances and Sundry Debtors, in the
ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet
except as stated otherw ise elsewhere.

20. As pci the coricspondcncc made with the suppliers and information available with the Company no creditors
have confirmed that they have MSME registration. In the absence of the same it is difficult to comment
regarding dues to MSME. Creditors are outstanding for a period of more than 30 days.

21. Provision for l ax has been made in the accounts under section II5JB of the Income Tax Act, 1961. Company
has made provision for Deferred Taxes as required in AS-22 on Accounting for Taxes on Income.

c) Licensed Capacity

The company is not required to obtain any license under the Industries (Development & regulation)
Act, 1951 therefore the details of licensed capacity are not applicable capacity.

d) Installed Capacity and Actual Production

The Company has a diverse range of products and therefore it is not feasible to give the details

e) Foreign Currency earning Out Go

The company does not have any foreign currency transaction during the year.

0 As per provision of Applicable GST Act. the The GST Audit Compliances as applicable have been
complied within the specified time frame . As GST Audit is Turnover Base hence it is not applicable
for the FY 2021-22 (Turnover < 2 Crore{updated to 5 Crore} later on by Notification by the official
gazette).

g) Previous year’s figures have been regrouped, rearranged & reclassified wherever considered
necessaiy to bring them into confoimity with the classification adopted in the current year.

23. These financial results have been prepared in accordance with Indian Accounting Standards (Ind AS)
as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder
and other accounting principles generally accepted in India. The above financial results of the
Company for the quarter and year ended March 31. 2025 has been reviewed by the Audit committee
and approved by the Board of Directors at their meeting held on 23rd May 2025.

For For Amit Agarwal & Co. FOR AND ON BEHALF OF THE BOARD

Chartered Accountants JYOTIRGAMYA ENTERPRISES LIMITED

FRN008359C ^

CA Suraj Kumar Singh Anil Ganpatlalji Jain Alpa Bhavesh Vora

Partner Managing Director Director

Membership No. 440365 DIN: 10455523 DIN: 06814833

Place: New Delhi . Ij _%

Date: 23/05/2025 .

Karan Rajesh Singh Sonia Bhintrajka

CFO Company Secretary

PAN: EFNPS9769N PAN: BFKPS9034.I

---

Mar 31, 2024

1.13 Provisions. Contingent liabilities. Contingent Assets, and Commitments

a) Provision*

Provisions are recognised wlten the Company has a present obligation (legal or constructive) as a result of a past event, it is probable I hat an outflow of resources embodying economic benefits will he required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of pro lit and loss net of any reimbursement.

b) Warranties

Provision for estimated liability in respect of wan-anty is made in the year of sale of goods. These costs are estimated by the management on the basis of expenditure actually incurred as well as expected costs tn the future, considering the past trend.

c) I hs-cuai mission in e

The provision for decommissioning serves to cover the costs associated with the decommissioning of assets. Decommissioning costs are provided at the present value of expected costs to settle the obligation using estimated cash flows and are recognised as part of the cost of the particular asset. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs or in the discount rate applied for existing obligations arc added to or deducted from the cost of the asset.

d) Contingencies

Provision in respect of loss contingencies relating to claims, litigation, assessment, tines, penalties, etc. are recognised when it is probable that a liability has been incurred and tile amount can he estimated reliably.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of lime is recognised as a finance cost.

e) Contingent liability is disclosed in the case oft

• A present obligation arising from past events, when It is nor probable that an outflow of resources will not be required to settle the obligation

• A present obligation arising from past events, when no reliable estimate is possible

• A possible obligation arising from past events, unless the probability of outflow of resources is remote

f) Contingent assets

Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic benefits to the entity. Contingent assets arc recognized when the realisation of income is virtually certain, then (he related asset is not a contingent asset and its recognition is appropriate.

A contingent asset is disclosed where an inflow of economic benefits is probable.

g) Commitments

These include the amount of purchase order (net of advances) issued to parties for completion of assets. Provisions, contingent liabilities, contingent assets and commitments are reviewed at each rejsorting date,

1.14 Retirement and other Employee Benefits

a) .Short term employee benefits:

All employee benefits payable available within twelve months of rendering the service arc classified as short-term employee benefits. Benefits such as salaries, wages and bonus etc., are recognised in the staieniem of profit and loss in the period in which the employee renders the related service.

IJn-avni led leaves for the year subject to a maximum of 15 Jays are en-cushed immediately after the close of the year in accordance with the service rules of the Company. Provision for compensated absences is made by the Company based on the amount payable as per the above merit toned service rules of the Company.

b) Defined Contribution Plans:

A defined contribution plan is a post-employment benefit plan under which an entity pays specified contributions to a separate entity and ftas no obligation to pay any further amounts. The Company makes specified monthly contributions towards employee provident fund to Government administered provident fund scheme which is a defined contribution plan. I he Company''s contribution is recognised as an expense in the statement of profit and loss during the period in which the employee renders the related service.

c) Defined Benefit Plan:

The Company''s gratuity benefit scheme is a defined benefit plan. The Company''s net obligation in respect of a defined benefit plan is calculated by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value. Any unrecognised past service costs and the fair value of any plan assets arc deducted. The calculation of the Company''s obligation under the plan is performed annually by a qualified actuary using the projected unit credit method.

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

I. The dale of the plan amendment or curtail mem, and

II. The date that the Company recognises related restructuring costs

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

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

II. Net interest expense or income

1.15 Financial Instruments

A financial instrument is any contract that gives rise to ¦ financial asset of one entity and a financial liability or equity instrument of another entity.

1.IS.1 Financial assets

a) Initial recognition and measurement

All financial assets are recognised Initially at fair value plus. In the case of financial assets not recorded at fair value through profit or loss, transaction costs that ire attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assess within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

b) Subsequent measurement

For purposes of subsequent measurement financial assets are classified in two broad categories:

a) Debt instruments at amortised cost

b) Debt instruments at fair value through other comprehensive income (FVTOCI)

c) Debt instruments, derivatives and equity instruments at fair value through profit or loss (FVTPL)

d) Equity instruments measured at fair value through other comprehensive income (FVTOCI)

c) Debt Instrument at amortised cost

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

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPJ) on the principal amount outstanding.

After initial measurement, such financial assets arc subsequently measured at amortised cost using the effective interest rate (EIRJ method.

Amortised cos) is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part or the EIR. The EIR amortisation is included in finance income in the profit or toss. Hie losses arising from impairment are recognised in the profit or loss. This category generally applies to trade and other receivables. For more information on receivables.

d) Debt instrument at FVTOCI

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

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

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

Debt instruments included within the FVTOCI category arc measured initially as well as at cadi reporting dale at fair value. Fair value movements are recognized in the other comprehensive income (OCI). However, the Company recognizes interest income, impairment tosses & reversals and foreign exchange gain or loss in the P&L. On de-recognition of the asset, cumulative gain or loss previously recognised In OCI is reclassified from the equity to P&L. Interest earned whilst holding FVTOCI debt instrument is reported as interest income using the FIR method.

r) Debt instrument at FVTPI,

FVTPL is a residua! category for financial assets. Any Financial asset, which docs not meet the criteria for categorization as at amortized cost or as FVTOCI. is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such eleclion is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ''accounting mismatch¹). The Company has nut designated any debt instrument as at FVTPI.. Debt instruments included within the FVl''PL category arc measured at fair value with all changes recognized in the P&l...

f) Equity investments

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which arc held for trading and contingent consideration recognised by an acquirer in a business combination to which Ind AS 103 applies arc classified as at FVTPL. For ail other equity instruments, the Company may make an irrevocable eleclion to present in other comprehensive income subsequent changes in the fair value. The Company makes such election on an instrument-by-instrument basis. The classification is made on initial recognition and ts irrevocable.

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

Equity instruments included within the FVTPI, category arc measured at fair value with all changes recognized in the P&L.

r) Derecognition of financial assets

A financial asset (or. where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised when;

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

• The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay (o a third party under a ''pass-through'' arrangement: and either (a) the Company has transferred substantially all the risks and rewards of the asset or (b) the Company has neither transferred nor retained substantially all (lie risks and rewards of the asset, hut has transferred control of the asset.

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

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

b) Impairment of financial niseis

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

financial assets measured at amortised cost eg., loans, debt securities, deposits, trade receivables and bank balance.

The Compnny follows ‘simplified approach’ for recognition of impairment loss allowance on trade receivables or contract revenue receivables.

The application of simplified approach dries not require the Company to track changes in

credit risk. Rather, it recognises impairment toss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

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

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

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

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

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

As a practical expedient, five Company uses a provision matrix to determine impairment loss allowance on portfolio of its trade receivables. The provision matrix is based on Els historically observed default rates over the expected life of rite trade receivables and is adjusted for forward-looking estimates. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates arc analysed. On that basts, the Company estimates the following provision matrix at the reporting date:

F.CI impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the statement of profit and loss (P&L). This amount is reflected under the head "oilier expenses" in the P&L. The balance sheet presentation for various financial instruments is described below;

Financial assets measured as at amortised cost and contractual revenue receivables: ECL is presented as an allowance, i.e„ as on integral part of llie measurement of those assets in (he balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off criteria, the Company docs not reduce impairment allowance from the gross carry ing amount.

For assessing increase in credit risk and impairment loss, the Company combines financial instruments cm the basis of shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant increases in credit risk to be identified on a timely basis.

U5J Financial liabilities

i) Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Company''s financial liabilities Include trade and other payables, finance lease obligations, and derivative financial instruments."

b) Subsequent measurement

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

c) Financial liabilities measured at fair value through profit or Ion

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon Initial recognition as at fair value through profit or loss.

Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind AS 109. Separated embedded derivatives are also classified as held for trading unless they'' arc designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial dale of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL. fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to P&L. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the statement of profit or loss. The company has not designated any financial liability as at fair value through profit and loss.

d) Loans and borrowing*!Finance lease obligation)

This is tile category most relevant to the Company. After initial recognition, interest-bearing louts and borrowings are subsequently measured at amortised cost using the E1R method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit and loss. This category generally applies to borrowings.

c) De-recognition

A financial liability is derecognised when the obligation under the liability is dischtuged or cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially dllTcrent terms, or the terms of an existing liability are substantially modified such an exchange or modification is treated as the derecognition of the original liability and the recognition nt a new liability

0 Offsetting of fmuncijil instruments

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

r) Reclassification of financial assets

Tlte company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity

insl rumen Is nnd lln.iiui.il liabilities. For t"i n; in u i n I assets whiuh nro debt instruments. u

reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to he infrequent. 1 he company''s senior management determines change in the business model as a result of external or internal changes which are significant to the company''s operations. Such changes are evident to external panics. A change in the business model occurs when the company either begins or ceases to perform an activity that is significant to its operations, ff the company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following die change in business mode!. The Company does not restate any previously- recognised gains, losses (including impairment gains or losses) or interest.

h) Derivative financial instruments

The Company uses derivative financial instruments, (forward currency contracts) to hedge its foreign currency risks. Such derivative financial instruments arc initially recognised at lair value on the dale on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative, Any gains or losses arising from changes in the fair value of derivatives ore taken directly to profit or loss.

i) Financial Guarantee Contracts

financial guarantee contracts issued by the Company are those contracts that require a payment to he made to reimburse the holder for a loss it incurs because the specified debtor fails to make a payment when due in accordance with the terms of a debt instrument, f inancial guarantee contracts are recognised initially as a liability at fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequently, the liability is measured at the higher of the amount of loss allowance determined as per impairment requirements of (ml AS 109 and the amount recognised less cumulative amortisation.

1.16 Cash and cash equivalents

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

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and shon-icrtn deposits, as defined above, net of outstanding hank overdrafts as the; are considered an integral part of the Company ''s cash management.

1.17 Foreign currencies

The financial statements arc presented in INK. which is also the Company''s functional currency.

Transactions in foreign currencies are initially recorded by the Company at their respective functional currency spot rates at the date the transaction first qualities for recognition. However, for practical reasons, the company uses an average rate if the average approximates the actual rate at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot roles of exchange ut the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss with the exception of the following:

a) Exchange differences arising on monetary items that forms part of a reporting entity''s net investment in a foreign operation are recognised in profit or loss in the separate financial

statements of the reporting entity or the individual financial statements of the foreign operation, as

appropriate. In the financial statements that include the foreign operation and the reporting entity te.g.. consolidated financial statements when the foreign operation is a subsidiary)- such exchange differences are recognised initially in OCI. These exchange differences are reclassified from equity to profit or loss on disposal of the net investment.

b) Exchange differences arising on monetary Items that arc designated as part of the hedge of the Company''s net investment of a foreign operation. These are recognised in OCI until the net investment is disposed of. at which time, the cumulative amount is reclassified to profit or loss.

c) Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI.

Ncn-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dales of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monctary items measured at fair value is treated in line with the recognition of the gain or loss on (he change in fair value of the item fi.e., translation differences on items whose fair value gain or loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively ).

1.18 Fair value measurement

The Company measures financial instruments ai fair value at each balance sheet date. The Company determines fair value based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

a) In the principal market for the asset or liability, or

b) In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most adv antageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their best economic interest.

The Company uses valuation techniques that arc appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets anti liabilities for which fair value is measured or disclosed in the financial statements arc categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level I —Quoted (unadjusted) market prices Inactive markets for identical assets or liabilities Level 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable,

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether transfers have oeeurred between levels in the hierarchy by re-assessing

categorisation (based on the lowest level input that is significant to the fair value measurement as n whole) at the end of each reporting period.

The Company determines the policies and procedures for recurring fair value measurement, such as

derivative instruments and unquoted financial assets measured at fair value.

External valuers are involved for valuation of significant assets or liabilities such as derivative instruments.

At each reporting date, the Company analy ses the movements in the values of assets and liabilities which arc required to he re-measured or re-assessed as per the Company''s accounting policies. For this analysis, the Company verifies the major inputs applied in the latest valuation by agreeing the information its the valuation computation to contracts and other relevant documents.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

This note summarises accounting policy for fair value. Other fair value related disclosures are given In the relevant notes.

a) Disclosures for valuation methods, significant estimates and assumptions (Item No. 16(a) of Note No. 28)

b) Quantitative disclosures of fair value measurement hierarchy (Item No, I6tb) of Note No. 28)

c) Financial instruments (including those carried at amortised cost) (Item No. 16(a) of Note No. 28)

1,19 Rev enue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue cun be reliably measured and when specific criteria huve been met for each of the Company''s activities, as described below, regardless of when tire payment is being made.

Revenue is measured at the fair value ofthe consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government. The amount recognised as revenue is exclusive of applicable taxes, and is net of returns, trade discounts, quantity turnover diseounts, cash discounts etc

The specific recognition criteria described below must also he met before revenue is recognised, a) Rev enue from sale of goods

Recognised when the significant risks and rewards of llreir ownership arc transferred to the customer., i.c. when the Company retains neither continuing right to dispose of the goods nor hold effective control or the goods sold, recovery of the consideration is probable and the amount or the revenue and associated costs can be measured reliably .No revenue is recognized if there is significant uncertainty regarding the possible return of goods.

b) Rendering of service*

Recognised under the proportionate completion method provided the consideration is reliably determinable and no significant uncertainty exists regarding the collection of the consideration.

c) Interest income

For ail debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest income is recorded using the effective interest rate (EIR), EIR is the rale that exactly discounts (he estimated future cash payments or receipts over the expected life of tire financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial liability, When calculating tire effective interest rate, the Company estimates the expected cash flows by considering all [he contractual terms of the financial instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Interest income is included in finance income in the statement of pro fi I and loss.

d) Lease Income

Lease agreements where the risks and rewards incidental to the ownership of an assets substantially vest with the lessor are recognised as operating lease. Lease rentals are recognised on straight-line basis as per tenns of the agreements in the statement of Profit and Loss.

1.20 Government G rants

Government grants arc recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the gram relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts ova the expected useful life of the related asset.

1.21 Taxes

Tax expense comprises current and deferred tax.

a) Current income tax

Current income lax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, the tax rates and tux laws used to compute the amount are those that are enacted or substantively enacted, at the reporting dale.

Current income lax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, the tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Current income lux relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity ). Current tax items are recognised in correlation to the underlying transaction either in OC! or directly in equity. Management periodically evaluates positions taken in the lax returns with respect to situations in which applicable tax regulations arc subject to interpretation and establishes provisions where appropriate.

b) Deferred tax

Deferred lax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. ¹

ii. In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable dial the temporary differences will not reverse In die foreseeable future

iti. Deferred tax assets are recognised for ail deductible temporary differences, the cany forward of unused tux credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit wilt be available against which the deductible temporary¹ differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except:

When the deferred tax asset relating to (he deductible temporary difference arises from the

initial recognition of an asset or liability in a transaction that is not a business combination and, at the lime of the transaction, affects neither the accounting profit nor taxable profit or loss

tv. In respect of deductible temporary differences associated with investments in subsidiaries,

associates and Interests in joint ventures, deferred tax assets are recognised only to die extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against winch the temporary differences can be utilised

v. The carrying amount of deferred tax assets b reviewed at 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 tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow ihe deferred tax asset to be recovered.

vi. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

vii. Deferred tax relating to items recognised outside profit or toss is recognised outside profit or loss (either In other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity.

vitL Deferred lax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current (ax liabilities and the deferred taxes relate to the sane taxable entity and the same taxation authority.

1.22 Earning! per share

Basic earnings per store are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period.

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

t.I3 Klimt accounting pronouncement*

Minisln of Corporate A Hairs (“MCA”! notifies new standard or amendments to the existing standards, there is no such notification which would have been applicable from, April 1, 2021,

For Amit Agarwal & Co. FOR AND ON BEHALF OF THF. BOARD

Chartered Accountants _ JYOTIRG AMYA ENTERPRISES LIMITED

FRN0DK359C . jSlTX

jffil ^

CASwraj Kumar Singh ''Ci ^ Slhit Mlnhtj Klin

Partner Managing Director

Membership No. 44*365 DIIN; 0662489?

Place: New Delhi Date: 24/05/24124

1

Deferred tax liabilities arc recognised for all taxable temporary differences, except; When the deferred tax liability arises from the initial recognition or goodwill or an asset or liability in a transaction that is not a business combination and. at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

---

Mar 31, 2012

1. CORPORATE INFORMATION: Jyotirgamya Enterprises Limited is a company incorporated under the provisions of the Companies Act, 1956, on 25th September 1986 having office at 1101, Tolstoy House, Tolstoy Marg, New Delhi-110001.

2.a) In the opinion of the Board of Directors the "Current Assets and Investments" have a value on realization in the ordinary course of business at least equal to the amount on which they are stated in the Balance Sheet.

3) Accounts whether in debit or in credit or squared up during the year are subject to confirmation and the same have been taken as per the balance appearing in the books. The difference arising in confirmation, if any as compared to the Company's books that in opinion of the board are not likely to be material, will be made as and when these accounts are confirmed.

4) Provision for income tax liability has been computed after taking into account allowable deductions under provisions of Income Tax Act, 1961 and is considered adequate.

5) Employee Benefits

The Provident fund and ESI are not applicable to the Company as the no of employees are lesser as compared to the minimum no of the employee for the applicability of the PF and ESI acts to the Company.

The company has no compensated absences outstanding (Paid Annual leave), which are liable to payment, at the end of the year. Hence no provision for the same has been made.

6) Segment Information

The company is engaged in trading business, hence, there is one primary segment in context of Accounting Standard AS-17 on segment reporting by ICA1.

7) In conformity with the Accounting Standard AS-22 issued by the Institute of Chartered Accountants of India on "Accounting for Taxes on Income", there is no any timing difference hence provision for deferred tax Iiability/(assets) has not been made.

8) Contingent liability Current Year Previous Year

Nil Nil

9) Break up of expenditure on Employees who are in receipt of remuneration amounting in the aggregate to Rs. 24,00,000 or more if employed for the full year or Rs. 2,00,000 p.m. or more if employed for part of the year :

Current Year Previous Year

Nil Nil

10) The Company has not received any memorandum (as required to be filled by the supplier with the notified authority under the Micro, Small and medium Enterprises Development Act, 2006) claiming their status as on March 31, 2013 as Micro, Small and Medium

enterprises during the year. Consequently the amount paid/payable to these parties during the year is Nil.

11) RELATED PARTY DISCLOSURE

Associated Company:- Jyotirgamya Advisory Private Limited

12) Previous year figures have been regrouped and rearranged wherever necessary. Figures have been rounded off to the nearest rupee value.