Notes to Accounts of New Markets Advisory Ltd.

Mar 31, 2025

i) Provisions, Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources.

When the Company expects part or entire provision to be reimbursed, the same is recognized as a separate
asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in
the statement of profit and loss net of any reimbursement. If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a
finance cost.

A Contingent Liability is a possible obligation that arises from past events and the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within
the control of enterprise or a present obligation that arises from past events that may, but probably will not,
require an outflow of resources.

Both provisions and contingent liabilities are reviewed at each Balance Sheet date and adjusted to reflect the
current best estimates. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent
assets are neither recognized nor disclosed in the Financial Statements.

j) Earnings Per Share:

Basic Earnings Per Share is calculated by dividing the net profit or loss for the year attributable to equity
shareholders by the weighted average number of equity shares outstanding during the year. The weighted
average numbers of equity shares outstanding during the year are adjusted for events including a bonus issue,
bonus element in right issue to existing shareholders, share split, and reverse share split (consolidation of
shares).

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

k) Cash and Cash Equivalent:

Cash and cash equivalent for the purpose of Cash Flow Statement comprise cash at bank and in hand.

l) Statement of Cash Flow:

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flows from operating, investing and financing activities of the Company are segregated based on the
available information.

m) Segment Reporting:

Operating segments are reported in a manner consistent with the internal reporting provided to the chief
operating decision maker.

The Board of Directors of the Company has been identified as being the Chief Operating Decision Maker (CODM)
by the management of the Company. The Company has single reportable segments. However the Company has
no separate reportable segment.

n) Significant Accounting Judgements, Estimates and Assumptions:

The preparation of Financial Statements is in conformity with the recognition and measurement principles of Ind
AS which requires the management to make judgements for estimates and assumptions that affect the amounts
of assets, liabilities and the disclosure of contingent liabilities on the reporting date and the amounts of revenues
and expenses during the reporting period and the disclosure of contingent liabilities. Differences between actual
results and estimates are recognized in the period in which the results are known/ materialize.

i) Estimation of current tax expense and deferred tax:

The calculation of the Company''s tax charge necessarily involves a degree of estimation and judgment in respect
of certain items whose tax treatment cannot be finally determined until resolution has been reached with the
relevant tax authority or, as appropriate, through a formal legal process. The final resolution of some of these
items may give rise to material profits/losses and/or cash flows. Significant judgments are involved in
determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax
positions.

ii) Recognition of deferred tax assets/ liabilities:

The recognition of deferred tax assets/liabilities is based upon whether it is more likely than not that sufficient
and suitable taxable profits will be available in the future against which the reversal of temporary differences can
be deducted. To determine the future taxable profits, reference is made to the latest available profit forecasts.

iii) Estimated fair value of Financial Instruments:

The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques. The Management uses its judgment to select a variety of methods and make assumptions that are
mainly based on market conditions existing at the end of each reporting period.

III. Financial Instrument:

The significant accounting policies, including the criteria of recognition, the basis of measurement and the basis
on which income and expenses are recognised, in respect of each class of financial asset, financial liability, and
equity instrument are disclosed in note 2.2 of the Ind AS financial statement.

(a) Financial Assets and Liabilities

The carrying values of financial instruments by categories as at 31st March, 2025 are as follows:

Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either

observable or unobservable and consist of the following three levels:

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

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

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

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis and

financial assets that are not measured on fair value on recurring basis (but fair value disclosures are required)

Notes referred to above form part of Balance Sheet
As per our report of even date attached.

For Suvarna & Katdare For and on behalf of the Board

Chartered Accountants New Markets Advisory Limited

Firm Registration No.: 125080W

Sd- Sd- Sd-

CA Ravindra Raju Suvarna Kavita Sandeep Pawar Kishor Kanhiyalal Jain

Partner (Director) (Executive Director & CFO)

Membership No.: 032007 DIN: 05152917 DIN: 02385072

Place: Mumbai

Date: April 24, 2025

UDIN: 25032007BMIGCT9378

Sd/-

Prashant Prakash Lathi
Company Secretary

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Mar 31, 2024

i) Provisions, Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized
when there is a present obligation as a result of past events and it is probable that there
will be an outflow of resources.

When the Company expects part or entire provision to be reimbursed, the same is
recognized as a separate asset, but only when the reimbursement is virtually certain. The
expense relating to a provision is presented in the statement of profit and loss net of any
reimbursement. If the effect of the time value of money is material, provisions are
discounted using a current pre-tax rate that reflects, when appropriate, the risks specific
to the liability. When discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

A Contingent Liability is a possible obligation that arises from past events and the
existence of which will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of enterprise or a present
obligation that arises from past events that may, but probably will not, require an
outflow of resources.

Both provisions and contingent liabilities are reviewed at each Balance Sheet date and
adjusted to reflect the current best estimates. Contingent Liabilities are not recognized
but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in
the Financial Statements.

j) Earnings Per Share:

Basic Earnings Per Share is calculated by dividing the net profit or loss for the year
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the year. The weighted average numbers of equity shares outstanding
during the year are adjusted for events including a bonus issue, bonus element in right
issue to existing shareholders, share split, and reverse share split (consolidation of
shares).

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

k) Cash and Cash Equivalent:

Cash and cash equivalent for the purpose of Cash Flow Statement comprise cash at bank
and in hand.

l) Statement of Cash Flow:

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from operating, investing and
financing activities of the Company are segregated based on the available information.

m) Segment Reporting:

Operating segments are reported in a manner consistent with the internal reporting
provided to the chief operating decision maker.

The Board of Directors of the Company has been identified as being the Chief Operating
Decision Maker (CODM) by the management of the Company. The Company has single
reportable segments. However the Company has no separate reportable segment.

n) Significant Accounting Judgements, Estimates and Assumptions:

The preparation of Financial Statements is in conformity with the recognition and
measurement principles of Ind AS which requires the management to make judgements
for estimates and assumptions that affect the amounts of assets, liabilities and the
disclosure of contingent liabilities on the reporting date and the amounts of revenues and
expenses during the reporting period and the disclosure of contingent liabilities.
Differences between actual results and estimates are recognized in the period in which the
results are known/ materialize.

i) Estimation of current tax expense and deferred tax:

The calculation of the Company''s tax charge necessarily involves a degree of estimation
and judgment in respect of certain items whose tax treatment cannot be finally determined
until resolution has been reached with the relevant tax authority or, as appropriate,
through a formal legal process. The final resolution of some of these items may give rise to
material profits/losses and/or cash flows. Significant judgments are involved in
determining the provision for income taxes, including amount expected to be
paid/recovered for uncertain tax positions.

ii) Recognition of deferred tax assets/ liabilities:

The recognition of deferred tax assets/liabilities is based upon whether it is more likely
than not that sufficient and suitable taxable profits will be available in the future against
which the reversal of temporary differences can be deducted. To determine the future
taxable profits, reference is made to the latest available profit forecasts.

iii) Estimated fair value of Financial Instruments:

The fair value of financial instruments that are not traded in an active market is
determined using valuation techniques. The Management uses its judgment to select a
variety of methods and make assumptions that are mainly based on market conditions
existing at the end of each reporting period.

III. Financial Instrument:

The significant accounting policies, including the criteria of recognition, the basis of
measurement and the basis on which income and expenses are recognised, in respect of
each class of financial asset, financial liability, and equity instrument are disclosed in note
2.2 of the Ind AS financial statement.

(a) Financial Assets and Liabilities

The carrying values of financial instruments by categories as at 31st March, 2024 are as
follows:

Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure

fair value that are either observable or unobservable and consist of the following three levels:

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

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

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

Notes referred to above form part of Balance Sheet
As per our report of even date attached.

For Suvarna & Katdare For and on behalf of the Board

Chartered Accountants New Markets Advisory Limited

Firm Registration No.: 125080W

CA Ravindra Raju Suvarna Abdulrahim Allabux Khan Yukti Arya

Partner (Director) (Executive Director & CFO)

Membership No.: 032007 DIN: 05152917 DIN: 09756881

Place: Mumbai

Date: May 29, 2024

UDIN: 24032007BKAJQJ3178

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Mar 31, 2014

I. Related party Disclosures - NIL

II. CONTINGENT LIBILITIES

No contingent liabilities are provided for the year ended 31/03/2014.