Notes to Accounts of Pagaria Energy Ltd.

Mar 31, 2025

10. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.

If the effect of the time value of money is material, 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 recognised as a finance cost.

11- Employee Benefits 34^th Annual Report (2024-25.

(I) Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the
services rendered by employees are recognised as an expense during the period when employees render
the services.

(II) Post-Employment Benefits

a) Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified
contributions to a separate entity. The Company makes specified monthly contributions towards Provident
Fund, Superannuation Fund and Pension Scheme. The 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.

b) Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the
company at the time of resignation/superannuation. The gratuity is paid @15 days salary for every
completed year of service as per the Payment of Gratuity Act 1972

The gratuity liability amount is contributed to the approved gratuity fund formed exclusively for gratuity
payment to the employees. The gratuity fund has been approved by respective IT authorities.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected
Unit Credit Method and spread over the period during which the benefit is expected to be derived from
employees’ services.

Re-measurement of defined benefit plans in respect of post-employment are charged to the Other
Comprehensive Income.

12. Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of
Profit and Loss, except to the extent that it relates to items recognised in the comprehensive income or in
equity. In which case, the tax is also recognised in other comprehensive income or equity.

(I) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance
sheet date.

(II) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities
and assets are reviewed at the end of each reporting period.

13. Government Grants

The Company may receive government grants that require compliance with certain conditions related to
the Company’s operating activities or are provided to the Company by way of financial assistance on the
basis of certain qualifying criteria.

Government grants are recognised when there is reasonable assurance that the grant will be received,
and the Company will comply with the conditions attached to the grant. Accordingly, government grants:

(a) related to or used for assets are included in the Balance Sheet as deferred income and recognised as
income over the useful life of the assets.

(b) related to incurring specific expenditures are taken to the Statement of Profit and Loss on the same
basis and in the same periods as the expenditures incurred.

(c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become
receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change
in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

For Manish Mahavir & Co.

Chartered accountants

Firm Registration Number : 324355E Hanumanmal Bengani Kartik Sarkar

Managing Director Director

DIN:08425643 DIN: 08893728

(Manish Jain, FCA)

Proprietor

Membership No. 059264 Rekha Patni

Sanjay Kumar Bhansali

UDIN- 25059264BMOZOG3997 Company Secretary CFO |_

Membership No: A20442 IT PAN: ADXXXXX28E

Place: Kolkata
Date: 30th May, 2025

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Mar 31, 2024

10. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.

If the effect of the time value of money is material, 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 recognised as a finance cost.

11. Employee Benefits

(I) Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the
services rendered by employees are recognised as an expense during the period when employees render
the services.

(II) Post-Employment Benefits

a) Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified
contributions to a separate entity. The Company makes specified monthly contributions towards Provident
Fund, Superannuation Fund and Pension Scheme. The 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.

b) Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the
company at the time of resignation/superannuation. The gratuity is paid @15 days salary for every
completed year of service as per the Payment of Gratuity Act 1972

The gratuity liability amount is contributed to the approved gratuity fund formed exclusively for gratuity
payment to the employees. The gratuity fund has been approved by respective IT authorities.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected
Unit Credit Method and spread over the period during which the benefit is expected to be derived from
employees’ services.

Re-measurement of defined benefit plans in respect of post-employment are charged to the Other
Comprehensive Income.

12. Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of
Profit and Loss, except to the extent that it relates to items recognised in the comprehensive income or in
equity. In which case, the tax is also recognised in other comprehensive income or equity.

(I) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance
sheet date.

(II) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities
and assets are reviewed at the end of each reporting period.

13. Government Grants

The Company may receive government grants that require compliance with certain conditions related to
the Company’s operating activities or are provided to the Company by way of financial assistance on the
basis of certain qualifying criteria.

Government grants are recognised when there is reasonable assurance that the grant will be received,
and the Company will comply with the conditions attached to the grant. Accordingly, government grants:

(a) related to or used for assets are included in the Balance Sheet as deferred income and recognised as
income over the useful life of the assets.

(b) related to incurring specific expenditures are taken to the Statement of Profit and Loss on the same
basis and in the same periods as the expenditures incurred.

(c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become
receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change
in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

For Manish Mahavir & Co.

Chartered accountants

Firm Registration Number : 324355E Hanumanmal Bengani Dibbyendu Jana

Managing Director Director

DIN:08425643 DIN: 08898353

(Manish Jain, FCA)

Proprietor

Membership No. 059264 Rekha Patni

Sanjay Kumar Bhansali

UDIN- 24059264BKCSNX5276 Company Secretary CFO |_

Membership No: A20442 IT PAN: ADXXXXX28E

Place: Kolkata
Date: 29th May, 2024

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Mar 31, 2014

1. The Key management personnel are the directors, whose names are mentioned in the Corporate Governance Report.

2. The Major components of Deferred Tax Liability arising on account of timing difference are Depreciation: Rs.153, 274/- (P.Y Rs. 103,300/-)

3. The Company is operating in Single business segment; therefore requirement with regard to segmental reporting as per AS-17 is not applicable to the Company. The Company operates mainly in Indian Market and there is no reportable geographical segment.

4. Earning Per Share

Earnings per share are calculated by dividing the profit attributable to the equity shareholders by the number of equity shares outstanding during the year, as under:

5. In the opinion of the Board, all the current assets, loans and advances have a value on the realization 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.

6. Related Party Disclosure A. List of Related Parties

i) Key Managerial Personnel

Rajesh Kumar Pagaria, Managing Director Ranjit Singh Pagaria , Non Executive Director Jaydeb Mondal, Non Executive Director Manash Bose, Non Executive Director

ii) Enterprises in which Key Managerial Personnel have significant influence:

Bengal Barge P. Ltd.

Bhawana Impex P. Ltd.

Bird Aviation Ltd.

Kargil Steel P. Ltd.

RSP Business P. Ltd.

Shivshankar Vanijya P. Ltd.

Sri Anand Vinayak Coal Filed Ltd.

Super Entertainment P. Ltd.

Zebra Consultancy P. Ltd.

Zebra Infrastructure P. Ltd.

Zebra Mining P. Ltd.

Pagaria Power P Ltd.

Pagaria Properties P. Ltd.

B. The List of related parties and nature including amount of their transaction have been taken place during the year are given below:

7. Debit and Credit Balances 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 confirmed.

8. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

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

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Mar 31, 2013

Note: - 1

(a) In the opinion of the management, there are no contingent liabilities as on Balance Sheet date and nor any events occurred after the Balance Sheet date that affects the financial position of the Company.

2. During the financial year 2012-13, there are not any transactions with any suppliers /parties who are covered under ''The Micro Small and Medium Enterprises Development Act, 2006''.

3. Key Management Personnel

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

4. Related Party Disclosures:

The List of related parties and nature including amount of their transaction have been taken place during the year are given in the Annexure attached

5. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

6. The Mazor Components of Deferred Tax Liability arising on account of timing difference are- Depreciation :: Rs.l03,300/-(P.YRs. 25,067/-)

7. The Company is operating in Single business segment, therefore requirement with regard to segmental reporting as per AS-17is not applicable to the Company. The Company operates mainly in Indian Market and there is no reportable geographical segment.

8. In the Opinion of the Board, all the current assets, loans and advances have a value on realization 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.

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Mar 31, 2012

1. During the financial year 2011-12, there are not any transactions with any suppliers /parties who are covered under 'The Micro Small and Medium Enterprises Development Act, 2006'.

2. Key Management Personnel

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

3. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

4. The Company is operating in Single business segment, therefore requirement with regard to segmental reporting as per AS-17is not applicable to the Company.The Company operates mainly in Indian Market and there is no reportable geographical segment.

5. In the Opinion of the Board, all the current assets, loans and advances have a value on realization 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.

6. Certain Debit and Credit Balances 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 confirmed.

7. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

8. The Revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2010

(a) Provision for taxation Including FBT) has been made during the year of Its. 56.087/- as per minimum alternative tax provision of income tax. (Previous Year Rs. 65,800/- ).

(b) There is no contingent liability during the year(Previous year NIL)

(c) Estimated amount of contracts remaining to be executed on capital account and not provided are NIL.

(d) Figure of previous year has been re-grouped or rearranged whenever deemed necessary.

(e) In the opinion of the directors, current assets, loans and advances have the value on which they are stated in the Balance sheet realised in the ordinary course of business.

(f) Additional information pursuant to paragraph 3 & 4 of Part II of Schedule VI In the Companies Act. 1956 ;

(i) The providing of quantitative information in respect on software business and oilier trading is not practically possible, bence not furnished.

(ii) C-I.F value of Imports ; NIL (iiiExpenditure in Foreign Currency : NIL

(g) Accounting Standard Compliance :

(i) No provision in respect of retirement benefits has been made during the year, as none of the above said Acts are applicable to the Company. (Previous Year NIL)

(ii) The segmental reporting as specified in the Accounting Standard 17 is not required to be given as the Company remained engaged in single line of activity during the year

(iii)Related Party Disclosures as per Accounting Standard 18 ; There are no related party disclosures to be made in the Company.

(iv)Earning per share as per Accounting Standard 20 : Basic and dilmed earning per share for the year is Rs. 0.0l. (Previous Year Rs. 0.01)