Notes to Accounts of Share India Securities Ltd.

Mar 31, 2025

2.18 Provisions and contingencies

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. Provisions are measured
at the best estimate of the expenditure required to
settle the present obligation at the reporting date, taking
into account the risks and uncertainties surrounding
the obligation.

Provisions are determined by discounting the expected
future cash flows (representing the best estimate of the
expenditure required to settle the present obligation at
the balance sheet date) at a pre-tax rate that reflects
current market assessments of the time value of money
and the risks specific to the liability. Expected future
operating losses are not provided for.

Contingent liabilities are disclosed when there is a
possible obligation arising from past events, 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 the Company or a
present obligation that arises from past events where it
is either not probable that an outflow of resources will
be required to settle the obligation or a reliable estimate
of the amount cannot be made. Contingent liabilities
do not warrant provisions but are disclosed unless the
possibility of outflow of resources is remote.

Contingent assets are neither recognised nor disclosed
in the financial statements. However, when the realisation
of income is virtually certain, then the related asset is not
a contingent asset and its recognition is appropriate.

2.19 Dividends

The Company recognises a liability to make cash
distributions to its equity holders when the distribution
is authorised and the distribution is no longer at the
discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved by
the shareholders. A corresponding amount is recognised
directly in equity.

2.20 Foreign currency transactions and translations
Initial recognition: Foreign currency transactions are
translated into the functional currency using the exchange
rates prevailing at the dates of the transactions.

Conversion: Monetary assets and liabilities

denominated in foreign currency, which are outstanding
as at the reporting date, are translated at the reporting
date at the closing exchange rate and the resultant
exchange differences are recognised in the Statement of
Profit and Loss. Non-monetary items that are measured
at historical cost in a foreign currency are translated using
the spot exchange rates as at the date of recognition.

2.21 Earnings per share

a. Basic earnings per share:

Basic earnings per share is calculated by dividing
the net profit for the period (excluding other
comprehensive income) attributable to equity
shareholders of the Company by the weighted
average number of equity shares outstanding
during the financial year. Also, adjustments are
made for any bonus elements in respect of bonus
issue or the bonus element in Right issue, if any.

b. Diluted earnings per share:

Diluted earnings per share is computed by dividing
the net profit for the period attributable to equity
shareholders by the weighted average number of
shares outstanding during the period as adjusted
for the effects of all diluted potential equity shares
like ESOPs, share warrants, etc. except where the
results are anti-dilutive.

2.22 Statement of Cash Flows

Cash flow statement is prepared segregating the cash
flows from operating, investing and financing activities.
Cash flow is reported using indirect method as per the
requirements of Ind AS 7 (“Cash flow statements”),
whereby profit for the year is adjusted for the effects
of transactions of a non cash nature, any deferrals or
accruals of past or future operating cash receipts or
payments and item of income or expenses associated
with investing or financing cash flows.

2.23 Write-offs

The Company reduces the gross carrying amount of a
financial asset when the Company has no reasonable
expectations of recovering a financial asset in its entirety
or a portion thereof. This is generally the case when the
Company determines that the client or borrower does
not have assets or sources of income that could generate
sufficient cash flows to repay the amounts subjected
to write-offs. Any subsequent recoveries against such
loans are credited to the statement of profit and loss.

2.24 Exceptional Items

The Company recognises exceptional item when items
of income and expenses within Statement of Profit and
Loss from ordinary activities are of such size, nature or
incidence that their disclosure is relevant to explain the
performance of the enterprise for the period.

2.25 Events after reporting date

Where events occurring after the balance sheet date
provide evidence of conditions that existed at the end of
the reporting period, the impact of such events is adjusted
within the financial statements. Otherwise, events after
the balance sheet date of material size or nature are
only disclosed.

2.26 Recent pronouncements on Indian Accounting
Standards (Ind AS)

Ministry of Corporate Affairs (“MCA”) notifies new
standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules
as issued from time to time. During the year ended
March 31,2025, MCA has notified Ind AS 117 - Insurance
Contracts and amendments to Ind As 116 - Leases,
relating to sale and lease back transactions, applicable
from April 1, 2024. The Company has assessed that
there is no significant impact on its financial statements.

2.27 Standards issued but not yet effective

The new and amended standards and interpretations
that are issued, but not yet effective, up to the date
of issuance of the standalone financial statements are
disclosed below:

On May 7, 2025, MCA notified the amendments to
Ind AS 21 - Effects of Changes in Foreign Exchange
Rates. These amendments aim to provide clearer
guidance on assessing currency exchangeability and
estimating exchange rates when currencies are not
readily exchangeable. The amendments are effective
for annual periods commencing on or after April 1,
2025. The Company is currently assessing the probable
impact of these amendments on its financial statements.
The Company will adopt this new and amended
standard, when it becomes effective.

B. Fair value of Investment Property

- Fair Value of Leasehold Land is '' 2,124.90 lakhs and such fair value is based on the valuation by registered valuer as
on March 31,2025.

- Sub-leasing of building on lease is the building taken on long-term lease by the company and which have been further
rented out for period of less than 12 months. Fair value was not measured as these are actually the effective portion
of present value of lease rent of building taken on lease.

C. Measurement of fair values

i. Fair value hierarchy

The fair value of the above leasehold land has been determined by an external independent valuer registered under
rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017. The fair value measurement for the property
to be valued is residential plot which is the highest and best use, been categorised as a level 2 fair value based on the
inputs to the valuation technique. These inputs include comparable sale instances for Market Approach.

ii. Valuation technique

For the purpose of valuation, the primary valuation methodology used is Market Approach, as the best evidence of
fair value is current prices in an active market for similar properties. The market rate for sale/purchase of similar assets
is representative of fair values. The property to be valued is at a location where active market is available for similar
kind of properties.

(f) Issue of Shares under Rights cum Warrant Issue:

During the financial year 2022-23, the Company came up with a Rights Issue of 6,38,131 equity shares (1 right share
for every 50 shares held) of face value of '' 10/- each on right basis (Rights Equity Shares) with 1,08,48,227 detachable
warrants (17 warrants for every 1 right equity shares allotted). In accordance with the terms of issue, '' 4,466.92 lakhs i.e
100% of the Issue Price of '' 700/- (including premium of ''690/-) per Rights equity share along with ''18,984.40 lakhs (i.e.
25% of the Issue Price per Share warrant), was received and allotment was made to eligible allottees.The warrant holders
were allowed to exercise their option to convert detachable warrants into equity shares till September 23, 2024, upon
payment of '' 525/- per warrant i.e., the remaining 75% of the issue price. The shares were issued to the warrantholders
from whom warrant money was received in full in the stipulated period. However, warrant money towards 11,083 warrant
was not received in full and were lapsed and the application money already received were forfeited.

(h) No shares were bought back and also, no shares were allotted as fully paid up by way of bonus issue during the period
of 5 years immediately preceding the reporting date. However, during the financial year 2019-20, 74,82,000 equity shares
of '' 10/- each were issued without payment being received in cash consequent to and as part of the merger of Total
Securities Limited with the Company. Accordingly, the consideration for these shares was not received in cash.

(i) The Board of Directors of the Company, at their meeting held on May 09, 2024, approved the stock split/subdivision of
each equity share of the Company, having a face value of '' 10/- each, into 5 (Five) equity shares of the face value of '' 2/-
each. The same was subsequently approved by the shareholders at their Extraordinary General Meeting held on June 05,
2024 and June 27, 2024 was fixed as the record date for the split of equity shares.

Hence, in these financial statements, the face value of equity shares, the number of equity shares and the number of
Employee Stock option plans (ESOP''s), as existing on the said record date, are reported after considering the sub-division
as mentioned above.

Nature & Purpose of Reserves:

Capital Reserve: Capital reserve is created by capital profits of the company which is not kept for distribution to the shareholders
in the form of dividend. Capital reserve represents reserves created pursuant to the business combination. It is the difference
between value of net assets transferred to the Company in the course of business combinations and the consideration paid for
such combinations. Further, it also includes the amount on forfeiture of application money received on share warrants lapsed.

Securities Premium: It represents the surplus of proceeds received over the face value of shares, at the time of issue of
shares. It can be utilised only for limited purposes such as issuance of bonus shares, writing off the preliminary expenses,
paying premium on redemption of debentures and buyback of company''s own shares in accordance with the provisions of the
Companies Act, 2013.

General reserve: Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net
income at a specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act
2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn.
However, the amount previously transferred to the general reserve can be utilised only in accordance with the specific
requirements of Companies Act, 2013.

Retained earnings: These are the profits that the Company has earned till date, less any transfers to general reserve, dividends
or other distributions paid to Shareholders.

Equity-settled share options outstanding reserve: This reserve is created by debiting the statement of profit and loss
account with value of share options granted. Once shares are issued by the Company, the amount in this reserve will be
transferred to share capital, securities premium or retained earnings.

Other comprehensive income: This represents the cumulative gains and losses arising on the fair valuation of investments
measured at fair value through other comprehensive income (FVOCI) and present value of Defined benefit obligation.

(a) Guarantees given:-

1) The Company has given Corporate Guarantee of '' 19,800 lakhs as on March 31,2025 [Previous Year '' 19,800 lakhs]
to the banks on behalf of its wholly owned subsidiary “Share India Algoplus Private Limited” as security in respect of
financial assistance / facility taken by subsidiary.

2) The Company has provided bank guarantees aggregating to ''1,88,629.00 lakhs as on March 31,2025 [Previous Year
'' 1,52,775.00 lakhs] for the following purposes to:

(i) NSE Clearing Limited - '' 1,46,948.25 lakhs [previous year '' 1,20,086.25 lakhs] for meeting Margin requirements.

(ii) NSE Clearing Limited - '' 100.00 lakhs [previous year '' 100.00 lakhs] as Security Deposit [BMC].

(iii) Bombay Stock Exchange - '' 48.75 lakhs [previous year '' 48.75 lakhs] as Security Deposit [BMC].

(iv) Indian Clearing Corporation Limited - '' 80.00 lakhs [previous year '' 80.00 lakhs] for meeting Margin requirements.

(v) MCX Clearing Corporation Limited - '' 62.50 lakhs [previous year '' 62.50 lakhs] as Security Deposit [BMC].

(vi) MCX Clearing Corporation Limited - ''40,129.00 lakhs [previous year ''31,967.00 lakhs] for meeting
Margin requirement.

(vii) National Commodity & Derivatives Exchange - ''62.50 lakhs [previous year ''62.50 lakhs] as Security
Deposits [BMC].

(viii) National Commodity Clearing Limited - ''1,198.00 lakhs [previous year ''368.00 lakhs] for meeting
Margin requirement.

The Company has pledged fixed deposits with banks aggregating of ''92,141.81 lakhs [previous year: '' 74,138,55 lakhs] for
obtaining above bank guarantee.

The property pledged with banks aggregating to ''3,517.01 lakhs [previous year:'' 2,413.45 lakhs] for obtaining above bank guarantee. *

* [The above property pledged for obtaining bank guarantee are the property owned by company and its promoters, directors, and
it represents the market value of property (after haircut)].

(b) Demand in respect of income tax matters # :-

(i) The Company has outstanding demand of '' 9.14 lakhs related to Assessment Year 2008-09 and '' 2.68 lakhs is
related to Assessment Year 2015-16 in respect of Income Tax matters during the current year and previous year.

(ii) During the current year, demand of '' 39.55 lakhs has been raised in respect of income tax matters related to
Assessment Year 2022-23 against which the company is in the process of filing appeal with CIT (Appeals) within
statutory time limit.

#The Company is contesting these demands and the management believe that its position will likely to be upheld in the
appellate process/rectifications etc. and accordingly no provision has been accrued in the financial statements for these
tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse
effect on the Company’s financial position and results of operations.

Based on favourable decisions in similar cases, the Company does not expect any liability against these matters

in accordance with principles of Ind AS 12 ‘income taxes’ read with Ind AS 37 Provisions, Contingent Liabilities and
Contingent Assets’ and hence no provision has been considered in the books of accounts for such instances.

The above amounts contain interest and penalty where included in the order issued by the department to the Company.

Apart from above, a demand of '' 78.41 lakhs in respect of income tax matters related to Assessment Year 2013-14
outstanding in previous year have been ruled in favour of company by CIT(appeals) and demand is nullified during
the current year.

Note 44 Segment reporting

As per Ind AS 108 para 4, Segment reporting has been disclosed in Consolidated financial statement. Hence, no separate
disclosure has been given in standalone financial statements of the Company.

Note 45 The Compary uses an accounting software for maintaining its books of account along with process of taking backups
on regular basis (except on holidays/weekends when there are no transactions) and which has a feature of recording audit
trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting
software except that the audit trail feature is not enabled at database level in respect of certain accounting software to log any
direct data changes.

Further, there is no instance of audit trail feature being tampered with in respect of the accounting software where such feature
is enabled. Additionally, the audit trail of prior years has been preserved by the Company as per the statutory requirements for
record retention to the extent it was enabled and recorded in respective years.

Note 46 Leases

(1) Company as a Lessee:

The Company has taken various office premises on lease for a period ranging from 11 months to 120 months with an
option to renew the lease on mutually agreeable terms. Leases for which the lease term is less than 12 months have been
accounted as short term leases. Please refer Note 255 regarding accounting policy on leases.

Interest Rate Risk:

The plan exposes the Company to the risk of falling interest rates. A fall in interest rates will result in an increase in the
ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability.

Liquidity Risk:

This is the risk that the Company may not be able to meet the short-term gratuity payouts. This may arise due to non
availability of enough cash/cash equivalent to meet the liabilities or holding of liquid assets not being sold in time.

Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants
in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to
determine the present value of obligation will have bearing on the plan''s liability.

Demographic Risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to
the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,1972 (as amended from time
to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on
gratuity of ''20,00,000).

- Discount rate is the rate which is used to discount future benefit cash flows to determine the present value of
the defined benefit obligation at the valuation date. The rate is based on the prevailing market yields on Indian
Government bonds at the valuation date for the expected term of the obligation.

- The salary growth rate indicated above is the Company''s best estimate of an increase in salary of the employees
in future years, determined considering the general trend in inflation, seniority, promotions, past experience and
other relevant factors such as demand and supply in employment market, etc.

- Mortality rate is a measure of the number of deaths (in general or due to specific cause) in a population, scaled
to the size of that population, per unit of time.

- Attrition rate indicated above represents the Company''s best estimate of employee turnover in future (other
than on account of retirement, death or disablement) determined considering various factors such as nature of
business, retention policy, industry factors, past experience, etc.

Note 48 Employees Stock Option Plan

The Company has in place following employee stock option plans, as approved by shareholders of the Company in compliance

with Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) regulations, 2021:

a) Share India Employees Stock Option Scheme, 2022 [ESOS 2022]: In accordance with this scheme, 30,00,000 share
options were approved for issue to the eligible employees, at an exercise price of '' 2 per share. As per the scheme, the
Company is obliged to settle them by issue of equal number of equity shares (having face value of ''2/-). Out of the above
approved options, so far 19,14,965 options have been granted to the eligible employees with vesting period of 1 year and
exercise period of maximum 6 months.

b) Share India Employees Stock Option Scheme - II [ESOS-II]: In accordance with this scheme, 10,00,000 share
options were approved for issue to the eligible employees, at an exercise price as may be determined by Nomination &
Remuneration committee. As per the scheme, the Company is obliged to settle them by issue of equal number of equity
shares (having face value of ''2/-). Out of the above approved options, so far 3,77,000 options have been granted to the
eligible employees with vesting period of 3 years and exercise period of maximum 1 year.

Note 50 Fund Utilisation of the amounts raised through Public

Rights Issue Proceeds and Detachable Warrants:

During the financial year 2022-23, the Company came up with a rights issue of 6,38,131 equity shares (1 right share for every 50
equity shares held) of face value of ''10/- each (“Rights equity shares”) along with 1,08,48,227 detachable warrants (17 warrants
for every 1 right equity shares allotted). The rights equity shares as well as the detachable warrants were issued at a price of
'' 700/- each (including premium of ''690/- each). The total issue size was '' 80,404.51 lakhs which consists of Right shares of
'' 4,466.92 lakhs and Detachable warrant of '' 75,937.59 lakhs.

Out of above issue size, '' 23,451.31 lakhs were raised/collected by the Company consisting of 100% of right proceeds
and 25% of warrant issue proceeds and the allotment was made to eligible allottees. And as on March 31,2023, remaining
'' 56,953.19 lakhs [representing 75% of warrant issue proceeds] was due to be raised/collected from the warrantholders as and
when they exercise their right to convert the warrants into equity shares.

For amount yet to be raised, the warrant holders were allowed to exercise their option to convert detachable warrants into equity
shares till September 23, 2024 (i.e. 18 months from the date of allotment of warrants), upon payment of '' 525/- per warrant i.e.,
the remaining 75% of the issue price of the warrants.

The shares were issued to the warrantholders from whom warrant money was received in full in the stipulated period.
However, warrant money towards 11,083 warrant was not received in full and were lapsed and the application money already
received were forfeited.

• The Company has measured its equity investments in subsidiary companies, at Cost as per Ind AS 27 “Separate Financial Statements”.
Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, equity securities
and mutual funds) is based on quoted market prices at the end of the reporting period. These instruments are included in
level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If
all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(ii) . Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include :

• Quoted equity investments - Quoted closing price on stock exchange

• Mutual fund - Net asset value of the scheme

• Unquoted equity investments - Fair value report/statement of fund received.

(iii) . Financial instruments not measured at fair value

Financial assets not measured at fair value includes cash and cash equivalents (including other bank balances), trade
receivables, loans, deposits and other receivables. These are financial assets whose carrying amounts approximate fair
value largely due to their short term nature.

Additionally, financial liabilities such as trade payables, borrowings, lease liabilities and other payables are not measured at
fair value, whose carrying amounts approximate fair value largely due to the nature of these liabilities.

Note 57 Financial risk management

Company has operations in India. Whilst risk is inherent in the Company''s activities, it is managed through an integrated risk
management framework, including ongoing identification, measurement and monitoring, subject to risk limits and other controls.
This process of risk management is critical to the Company''s continuing profitability and each individual within the Company is
accountable for the risk exposures relating to his or her responsibilities. The Company is exposed to credit risk, liquidity risk and
market risk. It is also subject to various operating and business risks.

A. Market Risk:

Market risk is the risk that the fair value or future Cash flows of a financial instrument will fluctuate because of changes in
market prices. The objective of market risk management is to manage and control market risk exposures within acceptable
parameters, while optimizing the return.

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. The company exposure to currency risk arises on account of its proprietary positions and
loan to/investment in Subsidiaries operating overseas or in IFSC unit. However, company at all times hedges the risk
arising out of foreign currency exposure. Company''s exposure to foreign currency risk at the end of reporting period
is shown in Note 53.

(ii) Interest rate risk

The Company is exposed to Interest risk if the fair value or future cash flows of its financial instruments will fluctuate
as a result of changes in market interest rates. Changes in interest rates may cause variations in interest income and
expenses resulting from interest-bearing assets and liabilities.

The Company''s interest rate risk arises from interest bearing deposits with bank. Such instruments exposes the
Company to fair value interest rate risk. Management believes that the interest rate risk attached to this financial
assets are not significant due to the nature of these financial assets.

The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s borrowings.
The interest rates on the borrowing facilities availed are marginally higher than the interest rates on term deposits with
the banks and generally linked to the term deposit rates with the bank. The borrowings are taken both at fixed and
floating interest rates. The Company constantly monitors the credit markets and rebalances its financing strategies to
achieve an optimal maturity profile and financing cost.

The Company is exposed to market price risk, which arises from FVPL and FVOCI investments and Securities held for
trade. The management monitors the proportion of these investments in its investment and holding portfolio based
on market indices. Material investments and securities within the portfolio are managed on an individual basis and
all buy and sell decisions are approved by the appropriate authority. The Company manages market risk with central
oversight, complying with risk policy as formulated and continuous monitoring by the senior management to mitigate
such risks. The objective of market risk management is to maintain an acceptable level of market risk exposure while
aiming to maximise returns.

B. Liquidity Risk:

Liquidity risk is the risk that the entity will encounter difficulty in meeting the obligations associated with its financial liabilities
that are settled by delivering cash or another financial asset. The entity''s approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions,
without incurring unacceptable losses or risking damage to the entity''s reputation.

Prudent liquidity risk management requires sufficient cash and marketable securities and availability of funds through
adequate committed credit facilities to meet obligations when due and to close out market positions.

The Company has a view of maintaining liquidity with minimal risks while making investments. The Company invests its
surplus funds in short term liquid assets in bank deposits and liquid mutual funds. The Company monitors its cash and
bank balances periodically in view of its short term obligations associated with its financial liabilities.

C. Credit Risk:

Credit risk is the risk that the Company will incurr a loss because its customers or counterparties fail to discharge their
contractual obligation. The Company manages and controls credit risk by setting limits on the amount of risk it is willing to
accept for individual counterparties, and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of financial
instruments presented in the financial statements. The Company’s major classes of financial assets are cash and cash
equivalents, loans, investments, securities for trade, term deposits, trade receivables and security deposits.

Cash and cash equivalents and term deposits with banks are considered to have negligible risk or nil risk, as they are
maintained with high rated banks / financial institutions as approved by the Board of directors. Security deposits are kept
with stock exchanges for meeting minimum base capital requirements. These deposits do not have any credit risk.

Securities for trade and Investments comprise of Quoted Equity instruments, Bonds, Mutual Funds, Exchange Traded
Funds (ETF''s) etc. which are market tradeable. Investments are made only with approved counterparties with high credit
ratings except in case of strategic investments in few entities.

The management has established accounts receivable policy under which customer accounts are regularly monitored.
The Company has a dedicated risk management team, which monitors the positions, exposures and margins on a
continuous basis.

Expected credit loss (ECL)

A.Trade receivables

The Company applies the Ind AS 109 simplified approach to measure expected credit losses which uses a lifetime
expected loss allowance (ECL) for all trade receivables.

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it
recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

The Company has applied the simplified approach for calculating expected credit losses (ECL) on trade receivables
and recognises lifetime ECL for all trade receivables that do not involve a significant financing component. At each
reporting date, the Company evaluates the need for impairment. In line with industry practices and considering the
business environment in which it operates, management considers a trade receivable to be in default if it is overdue
by more than 365 days. The ageing of trade receivables and the corresponding expected credit losses recognised are
presented below.

B. Margin trading facilities

In accordance with Ind AS 109, the Company applies expected credit loss model (ECL) for measurement and
recognition of impairment loss. The expected credit loss is a product of exposure at default (EAD), probability of
default (PD) and loss given default (LGD). The financial assets have been segmented into three stages based on the
risk profiles, primarily based on past due.

Company has large number of customer base with shared credit risk characteristics. Margin trading facilities are
secured by collaterals. As per policy of the Company, margin trading facilities to the extent covered by collateral and
servicing interest on a regular basis is not considered as due/default. Accounts becoming due/default are fully written
off as bad debt against respective receivables and the amount of loss is recognised in the Statement of Profit and
Loss. Subsequent recoveries of amounts previously written off are credited to the Statement of Profit and Loss as
bad debts recovered.

As per Ind AS 109, the maximum period to consider when measuring expected credit losses is the maximum
contractual period (including extension options) over which the entity is exposed to credit risk and not a longer period,
even if that longer period is consistent with business practice. Therefore, the maximum period to consider when
measuring expected credit losses for these trading facilities is the maximum contractual period.

The Company does not have any margin trading facilities which may fall under stage 2 or stage 3.

ECL is computed as follow assuming that these receivables are fully recalled by the Company at each reporting period.
EAD is considered as receivable including interest (net of write off).

PD is considered at 100% for all receivables being the likelihood that the borrower would not be able to repay in the
very short payment period.

LGD is determined based on fair value of collateral held as at the reporting period. Unsecured portion is
considered as LGD.

Note 58 Capital Management

The company''s objectives when managing capital are to:

- safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and
benefits for other stakeholders, and

- maintain an optimal capital structure to reduce the cost of capital.

The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment
plans. The funding requirements are met through equity, operating cash flows generated and short term debt. 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. In addition to above the Company is required to maintain a minimum networth
as prescribed from time to time by the Securities and Exchange Board of India (Stock brokers and sub-brokers) Regulations,
1992. The management ensures that this is complied at all times.

Note 61 Other Regulatory requirements

a. Ratios

Additional regulatory information requires disclosure of ratios under (WB) (xiv) of Division III of amended Schedule III of
the Companies Act, 2013.The disclosure of ratios is not applicable to the Company as it is in broking business and the
Company has not conducted any Non-Banking Financial activities or any Housing Finance activities and is not required
to obtain Certificate of Registration (CoR) from the Reserve Bank of India (RBI) as per section 45-IA of Reserve Bank of
India Act, 1934.

b. Title deeds of immovable property not held in the name of the company

The Company holds title deeds of all the immovable property (other than properties where the company is the lessee and
the lease agreements are duly executed in favour of the lessee) in the name of the company.

c. Fair valuation of Investment property, and Revaluation of Property, plant & equipment, and Intangible assets

The fair value of investment property disclosed in Note 13(a) is based on the valuation by a registered valuer as defined
under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.

Further, the company has not revalued its Property, plant & equipment, and Intangibles assets during the year.

d. Relationship with struck off companies

The company did not have any transaction with companies struck off under section 248 of the Companies Act, 2013,
during the current year 2024-25 and previous year 2023-24, as such no declaration is required to be furnished.

e. Registration of charge/satisfaction

There are no charges or satisfaction, which is yet to be registered as on March 31,2025 and March 31,2024 with the
Registrar of Companies beyond the statutory period.

f. Details of Benami Property

No proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules there under.

g. Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender during the current
year and previous year.

h. Compliance with number of layer of Companies

The company has complied with requirements in respect of the number of layers prescribed under clause (87) section 2 of
the Act read with Companies (Restriction on number of layers) Rules, 2017.

i. Crypto currency or Virtual currency

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

j. Compliance with approved scheme (s) of arrangements

During the financial year ended March 31, 2024, the Board of Directors of the Company approved the scheme of
amalgamation of Silverleaf Capital Services Private Limited with Share India Securities Limited (Company) under Section 230
to 232 of the Companies Act, 2013. The Scheme of Amalgamation shall be subject to necessary statutory and regulatory
approvals including the approval of the Stock Exchanges, Securities and Exchange Board of India, the National Company
Law Tribunal, the Registrar, the Official Liquidator (as may be applicable) and/or such other competent authorities, as may
be required under applicable laws.

As on the balance sheet date, such approval of scheme from regulator''s is still under process.

k. Undisclosed Income

There were no previously unrecorded income that have been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961.

l. Utilisation of borrowed fund & Share Premium

(i) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities
(Intermediaries) with the understanding that the intermediary shall directly or indirectly lend or invest in other persons
or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or, provided
any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(ii) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall directly or indirectly lend
or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate
Beneficiaries) or, provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

m. In respect of Borrowings secured against current assets:

Quarterly returns or statements of current assets filed by the company with banks or financial institutions are in agreement
with the books of accounts.

n. Loans/Advance granted to Directors, Promoters, or Key Managerial Personnel

The company has not granted any loans or advances in the nature of loans to the Directors, Promotors, Key Managerial
Personnel and their relatives. However, the company granted loans to its related parties and reported such amount in Note
55 of these financial statements.

o. Disclosures under Section 186 of the Companies Act, 2013

The Company has complied with the provisions of Sections 186 of the Companies Act, 2013, in respect of loans granted,
investments made and guarantees given in the current year or previous year.

Note 63 Events after the reporting date

There were no significant events after the end of the reporting period which require any adjustment or disclosure in the financial
statements. In terms of Ind AS 10 “Events occuring after reporting period”, the company has not recognised Final dividend
(recommended by the board) as a liability at the end of the reporting period.

Note 64 Note on Code on Social Security, 2020

The Code on Social Security 2020 (‘the Code'') relating to employee benefits, during the employment and post-employment,
has received Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the
Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date
from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued.

The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the year in which,
the Code becomes effective and the related rules to determine the financial impact are published.

Note 65 Previous year figures have been regrouped/ reclassified and rearranged whenever necessary to correspond with the
current year''s classification/ disclosure. This reclassification does not affect the overall financial position, results of operations, or
cash flows of the company. The changes were made to improve the comparability of financial information.

As per our report of even date

For M S K A & Associates For and on behalf of the Board of Directors of

Chartered Accountants Share India Securities Limited

Firm Registration No. 105047W

Sriparna De Parveen Gupta Sachin Gupta

Partner Chairman & Managing Director CEO & Whole-time Director

M.No. 060978 DIN: 00013926 DIN: 00006070

Vijay Kumar Rana Vikas Aggarwal

Place : Noida Chief Financial Officer Company Secretary & Compliance Officer

Dated : May 23, 2025 M.No. FCS 5512

---

Mar 31, 2024

B. Fair value of Investment Property

- Fair Value of Leasehold Land is '' 1,155.50 lacs and such fair value is based on the valuation by registered valuer as on March 31,2023.

- Sub-leasing of building taken on lease is the building taken on long-term lease by the company and which have been further rented out for period of less than 12 months- Fair value was not measured as these are actually the effective portion of present value of lease rent of building taken on lease.

C. Measurement of fair values

i. Fair value hierarchy

The fair value of the above leasehold land has been determined by an external independent valuer registered under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017. The fair value measurement for the property to be valued is residential plot which is the highest and best use, been categorised as a level 2 fair value based on the inputs to the valuation technique. These inputs include comparable sale instances for Market Approach.

ii. Valuation technique

For the purpose of valuation, the primary valuation methodology used is Market Approach, as the best evidence of fair value is current prices in an active market for similar properties. The market rate for sale/purchase of similar assets is representative of fair values. The property to be valued is at a location where active market is available for similar kind of properties.

b. Rate of Interest

- For borrowings against fixed deposits - ROI is FD rate Spread varies (0.75% to 1.00%) [Previous year: FD rate Spread varies (0.50% to 0.75%)] payable on monthly basis.

- For borrowings against property - @ ROI of 9.5% p.a. [Previous year: ROI is 1 year MCLR & 6 months MCLR Spread of 200 to 210 basis point] payable on monthly basis.

- For unsecured loans (repayable on demand) - ROI @ Range of 12% to 14% p.a [Previous year : ROI is fixed @ 8%p.a] payable on quarterly basis.

c. The Company has not defaulted in repayment of any borrowings and interest thereon for the year ended March 31,2024 and March 31,2023.

a.) Terms/Rights attached to Equity Shares

The Company has only one class of equity shares, each having a par value of '' 10 per share. All these shares have same rights & preferences with respect to payment of dividend, repayment of capital and voting.

I n the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders.

f.) Issue of Shares under Rights cum Warrant Issue:

During the financial year 2022-23, the Company came up with a Rights Issue of 638,131 equity shares (1 right share for every 50 shares held) of face value of '' 10/- each on right basis (Rights Equity Shares) with 10,848,227 detachable warrants (17 warrants for every 1 right equity shares allotted). In accordance with the terms of issue, '' 4,466.92 Lacs i.e 100% of the Issue Price of ''700/- (including premium of ''690/-) per Rights equity share along with ''18,984.40 Lacs (i.e. 25% of the Issue Price per Share warrant), was received and allotment was made to eligible allottees. The warrant holders can exercise their option to convert detachable warrants into equity shares till September 23, 2024, upon payment of '' 525/- per warrant i.e., the remaining 75% of the issue price.

h.) No shares were bought back and also, no shares were allotted as fully paid up by way of bonus issue during the period of 5 years immediately preceding the reporting date.

However, during the financial year 2019-20, 74,82,000 equity shares were issued pursuant to, and as part of, the merger of Total Securities Limited with the Company. Accordingly, the consideration for these shares was not received in cash.

Nature & Purpose of Reserves:

Capital Reserve: Capital reserve represents reserves created pursuant to the business combination. It is the difference between value of net assets transferred to the Company in the course of business combinations and the consideration paid for such combinations.

Securities Premium: It represents the surplus of proceeds received over the face value of shares, at the time of issue of shares. It can be utilised only for limited purposes such as issuance of bonus shares, writing off the preliminary expenses in accordance with the provisions of the Companies Act, 2013.

General Reserve: Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

Retained Earnings: These are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to Shareholders.

Equity-settled Share Options Outstanding Reserve: This reserve is created by debiting the statement of profit and loss account with value of share options granted to the employees. Once shares are issued by the Company, the amount in this reserve will be transferred to share capital, securities premium or retained earnings.

Other Comprehensive Income: This represents the cumulative gains and losses arising on the fair valuation of investments measured at fair value through other comprehensive income and present value of Defined benefit obligation.

Money received against Share Warrants: It represents the funds received by the Company towards the issue of shares warrants against which the holders will be issued equity shares at the specified date upon the payment of full and final consideration.

Note 41 Contingent liability and commitment (to the extent not provided for)		('' in Lacs)
Particulars	As at March 31,2024	As at March 31,2023
Contingent liabilities:
(i) Guarantees given (Refer Note a below)	172,575.00	125,504.05
(ii) Demand in respect of income tax matters (Refer Note b below)	90.23	290.23
(iii) Claim against the company	Nil	Nil
Capital commitments:
Estimated amount of contracts remaining to be executed on capital account (net of advances)	Nil	Nil

(a) Guarantees given:-

1) The Company has given Corporate Guarantee of '' 19,800 Lacs as on March 31,2024 (Previous Year '' 3,000 Lacs) to its wholly owned subsidiary, Share India Algoplus Private Limited [formerly known as Total Commodities (India) Private Limited], as security in respect of financial assistance / facility taken by the said company from the Bank.

2) The Company has provided bank guarantees aggregating to '' 1,52,775.00 Lacs as on March 31,2024 (Previous Year '' 1,22,504.05 Lacs) for the following purposes to:

(i) NSE Clearing Limited - '' 1,20,086.25 lacs (previous year '' 1,02,286.25 lacs) for meeting Margin requirements

(ii) NSE Clearing Limited - '' 100.00 lacs (previous year '' 125.00 lacs) as Security Deposit (BMC)

(iii) Bombay Stock Exchange - '' 48.75 lacs (previous year '' 48.75 lacs) as Security Deposit (BMC)

(iv) Indian Clearing Corporation Limited - '' 80.00 lacs (previous year '' 380.00 lacs) for meeting Margin requirements

(v) National Stock Exchange - Nil for right issue (previous year : '' 504.05 Lacs)

(vi) MCX Clearing Corporation Limited - '' 62.50 lacs (previous year '' 62.50 lacs) as Security Deposit (BMC)

(vii) MCX Clearing Corporation Limited-'' 31,967.00 lacs (previous year '' 17,703.00 lacs) for meeting Margin requirement

(viii) National Commodity & Derivatives Exchange - '' 62.50 lacs (previous year '' 62.50 lacs) as Security Deposits (BMC)

(ix) National Commodity Clearing Limited-'' 368.00 lacs (previous year '' 1,332.00 lacs) for meeting Margin requirement

The Company has pledged fixed deposits with banks aggregating of '' 74,138.55 lacs (previous year: '' 59,108.80 lacs) for obtaining above bank guarantee.

The property pledged with banks aggregating to '' 2,413.45 lacs (previous year: '' 2,395.24 lacs) for obtaining above bank guarantee.*

* [The above propery pledged for obtaining bank guarantee are the property owned by company and its promoters, directors, and it represents the market value of property],

(b) Demand in respect of income tax matters # :-

(i) The Company has outstanding demand of '' 9.14 lacs related to Assessment Year 2008-09 and '' 2.68 lacs is related to Assessment Year 2015-16 in respect of Income Tax matters.

(ii) Demand of'' 78.41 lacs in respect of income tax matters related to Assessment Year 2013-14 in respect of income tax matters against which appeal is filed before CIT(Appeals), and the case is still pending.

#The Company is contesting these demands and the management believe that its position will likely to be upheld in the appellate process/rectifications etc. and accordingly no provision has been accrued in the financial statements for these tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company’s financial position and results of operations.

Based on favourable decisions in similar cases, the Company does not expect any liability against these matters in accordance with principles of Ind AS -12 ‘income taxes’ read with Ind AS -37; Provisions, Contingent Liabilities and Contingent Assets'' and hence no provision has been considered in the books of accounts for such instances.

The above amounts contain interest and penalty where included in the order issued by the department to the Company.

Note 42 Segment reporting

As per Ind AS-108 para 4, Segment reporting has been disclosed in Consolidated financial statement. Hence, no separate disclosure has been given in standalone financial statements of the Company.

Note 44 Leases

(1) Company as a Lessee:

The Company has taken various office premises on lease for a period ranging from 11 months to 120 months with an option to renew the lease on mutually agreeable terms. Leases for which the lease term is less than 12 months have been accounted as short term leases. Please refer Note 2.4 regarding accounting policy on leases.

The information about the lease for which Company is a lessee is presented below:-

A). Carrying value of Right-of-use assets and depreciation thereon has been disclosed in Note 15(c)

(B) Defined benefit plans

The Company offers its employees defined-benefit plans in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans are typically based on years of service and the employee''s compensation (last drawn basic salary immediately before retirement). The gratuity scheme covers substantially all regular employees. Such plan exposes the Company to actuarial risks such as: Interest rate risk, Liquidity Risk, Salary Escalation Risk, demographic risk and Regulatory Risk, defined as follows:

Interest Rate Risk:

The plan exposes the Company to the risk of falling interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability.

Liquidity Risk:

This is the risk that the Company may not be able to meet the short-term gratuity payouts. This may arise due to non availabilty of enough cash/cash equivalents to meet the liabilities or holding of liquid assets not being sold in time.

Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have bearing on the plan''s liabilty.

Demographic Risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of ''20,00,000 etc.).

- The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields/ rates available on applicable bonds as on the current valuation date.

- The salary growth rate indicated above is the Company''s best estimate of an increase in salary of the employees in future years, determined considering the general trend in inflation, seniority, promotions, past experience and other relevant factors such as demand and supply in employment market, etc.

- Attrition rate indicated above represents the Company''s best estimate of employee turnover in future (other than on account of retirement, death or disablement) determined considering various factors such as nature of business, retention policy, industry factors, past experience, etc.

- Mortality rate is a measure of the number of deaths (in general or due to specific cause) in a population, scaled to the size of that population, per unit of time.

Note 46 Employees Stock Option Plan

The Company has in place following employee stock option plans, as approved by shareholders of the Company in compliance

with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021:

a) Share India Employees Stock Option Scheme, 2022: In accordance with this scheme, 600,000 Share options were

approved for issue to the eligible employees, at an exercise price of '' 10 per share. As per the scheme, the company is

obliged to settle them by issue of equal number of equity shares. Out of the above approved options, 262,060 options have been granted to the eligible employees with vesting period of 1 year and exercise period of maximum 6 months.

b) Share India Employees Stock Option Scheme - II: In accordance with this scheme, 100,000 Share options were

approved for issue to the eligible employees, at an exercise price as may be determined by Nomination & Remuneration

committee. As per the scheme, the company is obliged to settle them by issue of equal number of equity shares. Out of the above approved options, 75,400 options have been granted to the eligible employees with vesting period of 3 years and exercise period of maximum 1 year.

C. Fair Value methodology and Assumptions

Fair value: The Company has adopted ‘fair value method'' using the Black-Scholes options pricing model for accounting of employee share based compensation cost. Under the fair value method, fair value of options are expensed on straight-line basis over the vesting period as employee share based compensation cost.

Stock Market Price: As the Company is listed on a Stock Exchange thus, the historical share price for the relevant period is readily available. The fair value of the underlying stock based on the latest available closing Market Price on NSE has been considered for valuing the grant.

Expected Volatility: Volatility is a measure of the amount by which a price has fluctuated or is expected to fluctuate during the period. The measure of volatility is used in the Black Scholes option-pricing model is the annualized standard deviation of the continuously compounded rates of return on the stock over a period of time.

The period to be considered for volatility has to be adequate to represent a consistent trend in the price movements. It is also important that movement due to abnormal events get evened out. The expected volatility for the options issued by the company has been determined after observing the Company''s historical volatility.

Risk-free rate of return: This is based on the yields on government bonds of term equivalent to the expected life of the option as on the date of grant.

Exercise Price: It is the price at which a specific derivative contract can be exercised. The exercise price has been taken based on a sample ESOP Contract signed with an employee. The exercise price for each grant has been provided and confirmed by the Company.

Weighted average remaining contractual life: Time to Maturity / Expected Life of Options is the period for which the Company expects the Options to be alive. The minimum life of a stock option is the minimum period before which the Options cannot be exercised and the maximum life is the period after which the Options cannot be exercised. The expected life of the option has been taken based on the inputs on expected exercise year provided by the Company.

Expected dividend yield: The Company has historically paid dividends and have a dividend payment policy in place. It should be noted that the dividend yield has been derived by dividing the dividend per share by the market price per share as on the date of grant.

Note 48 Fund Utilisation of the amounts raised through Public

Rights Issue Proceeds and Detachable Warrants:

During the financial year 2022-23, the Company came up with a rights issue of 638,131 equity shares (1 right share for every 50 equity shares held) of face value of '' 10/- each (“Rights Equity Shares”) along with 10,848,227 detachable warrants (17 warrants for every 1 Right Equity Shares). The Rights Equity Shares as well as the detachable warrants were issued at a price of '' 700/-each (including premium of '' 690/- each). The total issue size was '' 80,404.51 lacs which consists of Right shares of '' 4,466.92 lacs and Detachable warrant of '' 75,937.59 lacs.

Out of above issue size, '' 23,451.31 lakhs were raised/collected by the Company consisting of 100% of right proceeds and 25% of warrant issue proceeds and the allotment was made to eligible allottees. And as on March 31,2023, remaining '' 56,953.19 lacs [representing 75% of warrant issue proceeds] was due to be raised/collected from the concerned allotees as and when they exercise their right to convert the warrants into equity shares.

For amount yet to be raised, the warrant holders can exercise their option to convert detachable warrants into equity shares till September 23, 2024 (i.e. 18 months from the date of allotment of warrants), upon payment of '' 525/- per warrant i.e., the remaining 75% of the issue price of the warrants.

Out of the above remaining amount, the company raised a sum of ''29,521.77 lacs in the current year 2023-24 from the warrant holders for conversion of warrants into equity shares and as on March 31, 2024, ''27,431.42 lacs is yet to be raised. Also, refer Note a below.

Note 53 Related Party Disclosures

The names of the related parties and nature of the relationship where control exists are disclosed irrespective of whether or not there have been transactions between the related parties during the year. For Others, the names and the nature of relationship is disclosed only when the transactions are entered into by the Company with the related parties during the existence of the related party relationship.

• The Company has measured its equity investments in subsidiary companies, at Cost as per Ind AS-27 ‘Separate Financial Statements’. Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(ii) . Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include :

• Quoted equity investments - Quoted closing price on stock exchange

• Mutual fund - Net asset value of the scheme

• Unquoted equity investments - Net assets value based on latest audited financials

(iii) . Financial instruments not measured at fair value

Financial assets not measured at fair value includes cash and cash equivalents, trade receivables, loans, deposits and other receivables. These are financial assets whose carrying amounts approximate fair value largely due to their short term nature.

Additionally, financial liabilities such as trade payables, borrowings and Lease liabilities are not measured at fair value, whose carrying amounts approximate fair value largely due to the nature of these liabilities.

Note 55 Financial risk management

Company has operations in India. Whilst risk is inherent in the Company''s activities, it is managed through an integrated risk management framework, including ongoing identification, measurement and monitoring, subject to risk limits and other controls. This process of risk management is critical to the Company''s continuing profitability and each individual within the Company is accountable for the risk exposures relating to his or her responsibilities. The Company is exposed to credit risk, liquidity risk and market risk. It is also subject to various operating and business risks.

A. Market Risk:

Market risk is the risk that the fair value or future Cash flows of a financial instrument will fluctuate because of changes in market prices. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

(i) Foreign Currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The company exposure to currency risk arises primarily on account of its proprietary positions and Loan to/ Investment in Subsidiaries operating Overseas or in IFSC. However, company at all times hedges the risk arising out of foreign currency exposure. Company''s exposure to foreign currency risk at the end of reporting period is shown in Note 51.

(ii) Interest rate risk

The Company is exposed to Interest risk if the fair value or future cash flows of its financial instruments will fluctuate as a result of changes in market interest rates. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates.

The Company''s interest rate risk arises from interest bearing deposits with bank. Such instruments exposes the Company to fair value interest rate risk. Management believes that the interest rate risk attached to this financial assets are not significant due to the nature of this financial assets.

(iii) Market price risks

The Company is exposed to market price risk, which arises from FVPL and FVOCI investments and Securities held for trade. The management monitors the proportion of these investments in its investment and holding portfolio based on market indices. Material investments and securities within the portfolio are managed on an individual basis and all buy & sell decisions are approved by the appropriate authority.

B. Liquidity Risk:

Liquidity risk is the risk that the entity will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The entity''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the entity''s reputation.

Prudent liquidity risk management requires sufficient cash and marketable securities and availability of funds through adequate committed credit facilities to meet obligations when due and to close out market positions.

The Company has a view of maintaining liquidity with minimal risks while making investments. The Company invests its surplus funds in short term liquid assets in bank deposits and liquid mutual funds. The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its financial liabilities.

C. Credit Risk:

Credit risk is the risk that the Company will incurr a loss because its customers or counterparties fail to discharge their contractual obligation. The Company manages and controls credit risk by setting limits on the amount of risk it is willing to accept for individual counterparties, and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of financial instruments presented in the financial statements. The Company''s major classes of financial assets are cash and cash equivalents, loans, investments, term deposits, trade receivables and security deposits.

Deposits with banks are considered to have negligible risk or nil risk, as they are maintained with high rated banks / financial institutions as approved by the Board of directors.

Note 56 Capital Management

The company’s objectives when managing capital are to:

- safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

- maintain an optimal capital structure to reduce the cost of capital.

The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment plans. The funding requirements are met through equity, operating cash flows generated and short term debt. 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. In addition to above the Company is required to maintain a minimum networth as prescribed from time to time by the Securities and Exchange Board of India (Stock brokers and sub-brokers) Regulations, 1992. The management ensures that this is complied at all times.

Note 59 Other Regulatory requirements

a. Ratios

Additional regulatory information requires disclosure of ratios under (WB) (xiv) of Division III of amended Schedule III of the Companies Act, 2013.The disclosure of ratios is not applicable to the Company as it is in broking business and the Company has not conducted any Non-Banking Financial activities or any Housing Finance activities and is not required to obtain Certificate of Registration (CoR) from the Reserve Bank of India (RBI) as per section 45-IA of Reserve Bank of India Act, 1934.

b. Title deeds of immovable property not held in the name of the company

The Company holds title deeds of all the immovable property (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) in the name of the company.

c. Fair Valuation of Investment Property, and Revaluation of Property, Plant & Equipments, and Intangible Assets

The Fair value of investment property disclosed in Note 15(a) is based on the valuation by a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.

Further, the company has not revalued its Property, Plant & Equipments, and Intangibles Assets during the year.

d. Capital Work-in progress

There are no capital work in progress, thus, such disclosure is not required.

e. Intangible assets under development

The company does not have any Intangible assets under development.

f. Relationship with struck off companies

The company did not have any transaction with companies struck off under section 248 of the Companies Act, 2013, as such no declaration is required to be furnished.

g. Registration of Charge/Satisfaction

There are no charges or satisfaction, which is yet to be registered as on March 31,2024, with the Registrar of Companies beyond the Statutory period.

h. Details of benami Property

No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules there under.

i. Wilful defaulter

The company has not made any default in the repayment of any borrowing, as such the declaration as wilful defaulter is not applicable.

j. Compliance with number of layer of Companies

The company has not made any non compliance in respect of the number of layers prescribed under clause (87) section 2 of the Act read with Companies (Restriction on number of layers) Rules, 2017.

k. Cryptocurrency or Virtual Currency

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

l. Compliance with approved scheme (s) of arrangements

During the financial year ended March 31, 2024, the Board of Directors of the Company approved the scheme of amalgamation of Silverleaf Capital Services Private Limited with Share India Securities Limited (Company) under Section 230 to 232 of the Companies Act, 2013. The Scheme of Amalgamation shall be subject to necessary statutory and regulatory approvals including the approval of the Stock Exchanges, Securities and Exchange Board of India, the National Company Law Tribunal, the Registrar, the Official Liquidator (as may be applicable) and/or such other competent authorities, as may be required under applicable laws.

As on the balance sheet date, such approval of scheme from regulator/s is still under process.

m. Undisclosed Income

There were no previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

n. Utilisation of borrowed fund & Share Premium

(i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or, provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or, provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

o. In respect of Borrowings secured against current assets:

Quarterly returns or statements of current assets filed by the company with banks or financial institutions are in agreement with the books of accounts.

p. Loans/Advance granted to Directors, Promoters, or Key Managerial Personnel

The company has not granted any loans or advances in the nature of loans to the Directors, Promotors, Key Managerial Personnel and their relatives.

However, the company granted loans to its related parties; and reported such amount in Note 9 of the Financial Statements.

q. Disclosures under Section 186 of the Companies Act, 2013

The Company has complied with the provisions of Sections 186 of the Companies Act, 2013, in respect of loans granted, investments made and guarantees given in the current year or previous year. Refer Note 9 and 10 for details.

Note 61 Events after the reporting date

There were no significant events after the end of the reporting period which require any adjustment or disclosure in the financial statements. In terms of Ind AS-10 “Events occuring after reporting period”, the company has not recognised Final dividend (recommended by the board) as a liability at the end of the reporting period.

Note 62 Note on Code on Social Security’ 2020

The Code on Social Security 2020 (‘the Code'') relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020.. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued.

The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the year in which, the Code becomes effective and the related rules to determine the financial impact are published.

NOTE 63 Previous year figures have been regrouped/ reclassified and rearranged whenever necessary to correspond with the current year''s classification/ disclosure.

---

Mar 31, 2023

Note 1 Corporate Information

Share India Securities Limited (SISL) (‘the Company''), was incorporated on July 12, 1994 as a Company under the Companies Act, 1956 (‘the Act''). The Company has registered office at Gujarat, India. The Company is listed on the BSE Limited and National Stock Exchange of India Limited (Recognised Stock Exchanges in India).

The Company is engaged in the business of share and Stock Broking, Commodity Derivatives Broking, Equity Derivatives Broking, Currency Derivatives Broking, Portfolio Management, Research Analysis, Mutual Funds Distribution, and to invest, buy, sell or otherwise deal in all kind of securities and other related activities. Further, the company also provides Investment Advisory services. It also facilitates to trade on its online technology platform, which encompasses various algo-based strategies to choose and execute, through its web based trading terminal, mobile application and its trade unit.

The Company is a Trading and Clearing Member of BSE Ltd., National Stock Exchange of India Ltd (NSE); and Commodity Derivatives Exchange, viz. Multi Commodity Exchange of India Ltd (MCX), National Commodity & Derivative Exchange of India Limited (NCDEX) and Indian Commodity Exchange Limited (ICEX). The Company is also providing De-mat Services as a Depository Participant of Central Depository Services (India) Ltd (CDSL) and is also registered as Portfolio manager with Securities and Exchange Board of India (SEBI). It is also registered with SEBI in capacity of Research Analyst.

Note 2 Significant Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2.1 Statement of compliances and basis of preparation and presentation

a.) Statement of compliance

These standalone financial statements (‘financial statements'') of the Company have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the ‘Ind AS'') as notified by Ministry of Corporate Affairs (‘MCA'') under section 133 of the Companies Act, 2013 (‘Act'') read with the Companies (Indian Accounting Standards) Rules, 2015, as amended and other relevant provisions of the Act. The Company has uniformly applied the accounting policies during the periods presented in these financial statements.

b. ) Basis of presentation

The Company is covered in the definition of non-banking financial company as defined in Companies (Indian Accounting Standards) (Amendment) Rules, 2016. The Company presents the Balance Sheet, the Statement of Profit and Loss and the statement of Changes in Equity in the order of liquidity as per the format prescribed under Division III of Schedule III to the Companies Act, 2013. The format and figures in the statement of profit and loss and balance sheet of the previous period in the financial statements have been accordingly restated and reclassified to conform to the new format. There is no impact on Equity or Net Profit due to these regrouping / reclassifications. The financial statements were approved for issue by the Board of Directors on May 19, 2023.

c. ) Basis of measurement

The financial statements have been prepared on going concern basis, in accordance with accounting principles generally accepted in India, as the Management is satisfied that the Company shall be able to continue its business for the foreseeable future and no material uncertainty exists that may cast significant doubt on the going concern assumption. Further, the financial statements have been prepared on accrual and historical cost basis, except for the following:

• Certain Financial instruments are measured at fair value (refer accounting policy regarding Financial Instruments and fair value measurement);

• Securities held for trading;

• Share based payments (refer note 2.15)

• Derivative Financial Instruments; and

• Defined benefit plans as per actuarial valuation

d. ) Functional and presentation currency

The Financial Statements are presented in Indian Rupees which is also the functional currency of the Company and all amount in the Financial Statements are presented in '' Lacs, unless otherwise stated. Certain amounts that are required to be disclosed and do not appear due to rounding-off are expressed as 0.00.

e.) Use of estimates and judgments

The preparation of financial statements in conformity with Ind AS requires management to make estimates, judgments, and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities (including contingent liabilities) and disclosures as of the date of financial statements and the reported amounts of revenue and expenses for the reporting period. Actual results could differ from these estimates. Accounting estimates and underlying assumptions are reviewed on an ongoing basis and could change from period to period. Appropriate changes in estimates are recognized in the period in which the Company becomes aware of the changes in circumstances surrounding the estimates. Any revisions to accounting estimates are recognized prospectively in the period in which the estimate is revised and future periods.

Information about each of these estimates and judgments is included in the relevant notes together with information about the basis of calculation for each affected line item in the financial statements. The areas involving estimates for judgments are:

(i) Estimation of defined benefit obligations

(ii) Recognition of deferred tax assets, estimation of current tax expense and current tax payable

(iii) Estimation of provisions and contingencies

(iv) Fair value of employee share options

(v) Fair value of financial instruments including unlisted equity instruments

(vi) Impairment of financial instruments

(vii) Determination of useful life of Property, Plant and Equipments, & Investment property and method of depreciation

(viii) Determination of useful life of Intangible asset and method of depreciation

(ix) Effective interest rate

(x) Evaluation of lease, lease term and discount rates.

2.2 Property, plant and equipment

Initial And Subsequent Recognition: Land is carried at historical cost. All other Property, plant and equipment are stated at cost of acquisition less accumulated depreciation. Cost includes expenditure that is directly

attributable to the acquisition and installation of the assets. The cost of an item of PPE is recognised as an asset, if, and only if, it is probable that the economic benefits associated with the item will flow to the Company in future periods, and the cost of the item can be measured reliably. Expenditure incurred after the PPE have been put into operations, such as repair and maintenance expenses, are charged to the Statement of Profit and Loss, during the period in which they are incurred.

Where cost of a part of an asset (asset component) is significant to total cost of the asset and useful life of that part is different from the useful life of the remaining asset, useful life of that significant part is determined separately, and such asset component is depreciated over its separate useful life. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date is classified as capital advances under other non-current assets and PPE which are not ready for intended use as on the date of Balance sheet are disclosed as Capital work-in-progress.

Income and expenses related to the incidental operations, not necessary to bring the item to the location and condition necessary for it to be capable of operating in the manner intended by management, are recognized in Statement of profit and loss. Gains or losses arising on retirement or disposal of property, plant and equipment are recognised in the Statement of Profit and Loss. Subsequent costs are included in the asset''s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to Statement of Profit and Loss during the year in which they are incurred.

Depreciation methods, estimated useful lives and residual value: Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The entity selects the method that most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Depreciation is calculated using the diminishing balance method to allocate their cost, net of their residual values, over their estimated useful life prescribed under Schedule II to the Companies Act, 2013. The Company provides pro-rata depreciation from the date of installation / asset is ready for use till date the assets are sold or disposed.

Leasehold improvements are amortised over the term of underlying lease. The residual values, estimated useful lives and methods of depreciation of property, plant and equipment are reviewed at the end of each financial year and changes if any, are accounted for on a prospective basis. During the year, the company has changed the useful lives of some of its tangible assets based on the best estimates of its effective consumption and their economic benefits. Such change has been properly accounted for on prospective basis.

Estimated useful lives of items of Property, Plant and Equipments are as follows:-

Assets	Useful life
Building	60 years
Computer	3 Years
Server	6 Years
Motor Car	8 Years
Motor Bike	10 Years
Electrical Equipment	10 Years
Furniture, Fittings & Fixtures	10 Years
Office Equipment	5 Years
Plant & Machinery	15 Years

Derecognition: The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic benefits are expected from its use or disposal. Gains and losses on disposals are determined by comparing proceeds with carrying amount and are recognized in the statement of profit and loss when the asset is derecognized.

2.3 Investment Property

Investment property is property (land or building) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation (including property under construction for such purposes) or both, rather than for use in the production or supply of goods or services or for administrative purposes or sale in the ordinary course of business.

The company''s investment property consists of leasehold residential land and those portion of building taken on lease (right-of-use asset) which have been rented out for period of less than 12 months.

Initial and Subsequent Measurement: Investment properties are measured initially at their cost of acquisition. The cost comprises purchase price, borrowing cost, if capitalization criteria are met and directly attributable cost of bringing the asset

to its working condition for the intended use. Investment properties are subsequently measured at cost less accumulated depreciation and impairment losses.

Derecognition: The carrying amount of an item of property is derecognised on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss arising from the derecognition of an item of property is measured as the difference between the net disposal proceeds and the carrying amount of the item and is recognised in the statement of Profit and Loss when the item is derecognised.

Depreciation and Useful life: Depreciation on investment property (excluding the leasehold land) is calculated using the straight-line method to their residual values, over the useful life or primary lease period whichever is less.

Though the Company measures investment property, using cost-based measurement, the fair value of investment property is disclosed in Note 15(a). Fair values are determined based on an annual evaluation performed by an accredited external independent valuer

2.4 Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

a. Measurement and recognition of leases as a Lessee:

The Company has adopted lnd AS 116 “Leases” using the cumulative catch-up approach. Company has recognized Right-of-use assets as at 1^st April, 2021 for leases previously classified as operating leases and measured at an amount equal to lease liability (adjusted for related prepayments/ accruals).

Initial & Subsequent Measurement: The lease liability is initially measured at amortised cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of the leases. Lease liabilities are subsequently measured with a corresponding adjustment to the related right-of-use asset if the Company changes its assessment

on exercise of an extension or a termination option. The right-of-use assets are initially recognised at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. Subsequently, these are measured at cost less accumulated depreciation and impairment losses, if any.

Amortisation and Impairment: The Company depreciates the right-of-use assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The Company also assesses the right-of-use asset for impairment when such indicators exist.

Lease Liability and Right-of-Use Asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows. The Company has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognising a right-of-use asset and lease liability, the payments in relation to these are recognized as an expense in Statement of profit and loss on a systematic basis of lease payment over the lease term.

b. Measurement and recognition of leases as a Lessor

As a lessor the Company identifies leases as operating and finance lease. A lease is classified as a finance lease if the Company transfers substantially all the risks and rewards incidental to ownership of an underlying asset.

For Finance leases- amounts due from lessees are recorded as receivables at the Company''s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease. For Operating leases - Rental income is recognised on a straight-line basis over the term of the relevant lease.

2.5 Intangible assets

Measurement at recognition: Intangible assets

are recognized where it is probable that the future

economic benefit attributable to the assets will flow to

the Company and its cost can be reliably measured.

Intangible assets acquired separately are measured on initial recognition at cost. Intangible assets arising on acquisition of business are measured at fair value as at date of acquisition. Internally generated intangibles including research cost are not capitalized and the related expenditure is recognized in the Statement of Profit and Loss in the period in which the expenditure is incurred. Expenditure on the development of intangible assets, eligible for capitalisation, are carried as Intangible assets under development where such assets are not yet ready for their intended use. Following initial recognition, intangible assets with finite useful life are carried at cost less accumulated amortization and accumulated impairment loss, if any. Intangible assets with indefinite useful lives, that are acquired separately, are carried at cost/fair value at the date of acquisition less accumulated impairment loss, if any.

Amortisation: It is the systematic allocation of the depreciable amount of an asset over its useful life. Intangible Assets with finite lives are amortised on a diminishing basis over the estimated useful economic life. The amortization expense on intangible assets with finite lives is recognized in the Statement of Profit and Loss. The amortisation period and the amortization method for an intangible asset with finite useful life is reviewed at the end of each financial year. If any of these expectations differ from previous estimates, such change is accounted for as a change in an accounting estimate. Method of depreciation has been prospectively changed from “Straight line basis” in previous year to “Diminishing balance method” during current year. As the entity consider the diminishing balance method to closely reflects the pattern of consumption of future economic benefits associated with asset.

Estimated useful lives of items of Intangible Assets

Assets	Useful life
Computer Software	5 years

Derecognition: The carrying amount of an intangible asset is derecognized on disposal or when no future economic benefits are expected from its use or disposal. Gains and losses on disposals are determined by comparing proceeds with carrying amount and are recognized in the statement of profit and loss when the asset is derecognized.

2.6 Impairment of non-financial assets

At each reporting date, the Company assesses whether there is any indication based on internal / external factors, that an asset may be impaired. If any such indication

exists, the Company estimates the recoverable amount of the asset. The recoverable amount of asset is the higher of its fair value or value in use. Value in use is based on the estimated future cashflows, discounted to their present value using a pre-tax discount rate that reflects the current market assessment of time value of money and the risks specific to it. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount and the reduction is treated as an impairment loss and is recognised in the statement of profit and loss. All assets are subsequently reassessed for indications that an impairment loss previously recognised may no longer exist. An Impairment loss is reversed if there has been a change in estimates used to determine the recoverable amount. Such a reversal is made only to the extent that the assets carrying amount would have been determined, net of depreciation or amortization, had no impairment loss been recognised.

2.7 Inventories

The Company deals in Commodities (Agri and Non-Agri), which are held for the purpose of trading. The Company follows Ind AS-2 “’’Inventories”” for valuation of inventory held in trade. Accordingly, the Company carries its inventories at the lower Cost or Net realizable value. Cost includes purchase price, duties, transport and handling costs and other costs directly attributable to the acquisition and bringing the inventories to their present location and condition.

2.8 Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash in hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Bank borrowings are used for business purposes, and hence bank overdrafts are not considered to be a part of cash and cash equivalents in Cash flow statement

2.9 Investments in subsidiaries, associates

Investments in subsidiaries and associates are measured at cost less accumulated impairment, if any, as per IndAS 27 ‘Separate Financial Statements''. The company assesses at the end of each reporting period if there are any indications of impairment on such investments. If so, the company estimates the recoverable amount of the investment and provides for impairment.

2.10 Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments also include derivative contracts such as foreign currency forward contracts, interest rate swaps and currency options; and embedded derivatives in the host contract.

a. ) Initial measurement:

Financial assets and financial liabilities are recognized when the entity becomes a party to the contractual provisions of the instrument. Regular way purchases and sales of financial assets are recognized on trade-date, the date on which the Company commits to purchase or sell the asset. Financial instruments are initially measured at their fair value, except in the case of financial assets and financial liabilities recorded at FVTPL, transaction costs are added to, or subtracted from, this amount.

When the fair value of financial assets and liabilities differs from the transaction price on initial recognition, the entity recognizes the difference as follows:

- When the fair value is evidenced by a quoted price in an active market for an identical asset or liability (i.e. a Level 1 input) or based on a valuation technique that uses only data from observable markets, the difference is recognized as a gain or loss.

- I n all other cases, the difference is deferred till the timing of recognition of deferred profit or loss is determined individually. It is either amortized over the life of the instrument, deferred until the instrument''s fair value can be determined using market observable inputs, or realized through settlement.

When the Company revises the estimates of future cash flows, the carrying amount of the respective financial assets or financial liability is adjusted to reflect the new estimate discounted using the original effective interest rate. Any changes are recognized in profit or loss.

b. ) Classification and subsequent measurement:

A. Financial Asset

The Company classifies its financial assets in the following measurement categories:

i) Amortised cost,

ii) Fair value through other comprehensive income (‘FVOCI''), and

iii) Fair value through profit or loss (‘FVTPL'')

i. ) Financial assets carried at amortised cost:

A financial asset is measured at amortised cost if it meets both of the following conditions:

• the asset is held within a business model whose objective is to hold assets to collect contractual cash flows (‘Asset held to collect contractual cash flows''); and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (‘SPPI'') on the principal amount outstanding

This category generally applies to cash and bank balances, trade and other receivables, loans, securities deposits etc. of the Company.

After initial measurement, such financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method. 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 in interest income in the Statement of Profit and Loss

ii. ) Financial assets at fair value through other

comprehensive income (FVOCI)

Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and collecting contractual cash flows that are solely payments of principal and interest, are subsequently measured at fair value through other comprehensive income. Fair value movements in debt and equity instrument are recognised in the other comprehensive income (OCI) except interest / dividend income which is recognised in profit and loss. However, in case of equity instruments, the Company may, irrevocably elects to measure the investments in equity instruments either at FVOCI or FVTPL and makes such election on an instrument-by-instrument basis. If company opts to measure the

equity instrument at FVOCI, such fair value movements will be directly transferred to OCI.

iii.) Financial assets at fair value through profit and loss (FVTPL)

Financial assets, which do not meet the criteria for categorisation as at amortised cost or as FVOCI or either designated, are measured at FVTPL. Subsequent changes in fair value are recognised in profit or loss. The company recognises the derivative financial asset being the advance premium paid on the options, future''s MTM profit and Securities for trade - at FVTPL.

B. Financial liabilities

The Company classifies its financial liabilities in the following measurement categories: i) Amortised cost, and ii) Fair value through profit or loss (‘FVTPL'')

Financial liabilities are classified at FVTPL when the financial liability is recognised by the company on account of business combination (IndAS 103) or is held for trading or is designated as FVTPL. In all other cases, they are measured at amortised cost.

i. ) Financial Liabilities carried at amortised cost:

Financial liabilities are subsequently measured at amortised cost using the EIR method. The EIR is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period at effective interest rate. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or, where appropriate, a shorter period.

ii. ) Financial liabilities at Fair value through Profit

and Loss:

Financial liabilities at fair value through profit and loss are measured at fair value with all changes recognized in the statement of profit and loss. The company recognises the derivative financial liability being Future''s MTM loss at FVTPL.

c.) Derecognition

A. Financial Asset :

Financial asset is 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 and either (a) company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has transferred substantially all risks and rewards, the company derecognise the asset and, 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.

On derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognised) and the sum of (i) the consideration received (including any new asset obtained less any new liability assumed) and (ii) any cumulative gain or loss that had been recognised in OCI, is recognised in profit or loss (except for equity instruments measured at FVOCI). For Equity Instruments at FVOCI, the realised amount of gain/(loss) on their disposal is then finally tranferred from OCI to retained earnings.

B. Financial Liability:

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different 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 of a new liability. The difference in the respective carrying amounts is recognised in the Statement of profit and loss.

d.) Impairment of financial assets

The Company applies the Ind AS 109 simplified approach to measure expected credit losses (ECLs) for trade receivables at an amount equal to lifetime ECLs. The ECLs on trade receivables are calculated based on actual historic credit loss experience over the preceding three to five years on the total balance of non-credit impaired trade receivables. The Company considers a trade receivable to be credit impaired when one or more detrimental events have occurred, such as significant financial difficulty of the client or it becoming probable that the client will enter bankruptcy or other financial reorganization. When a trade receivable is credit impaired, it is written off against trade receivables and the amount of the loss is recognised in the income statement. Subsequent recoveries of amounts previously written off are credited to the income statement.

The Company recognizes impairment allowances using Expected Credit Losses (“ECL”) method on all the financial assets that are not measured at FVTPL:

ECL are probability-weighted estimates of credit losses. They are measured as follows:

- Financial assets that are not credit impaired - as the present value of all cash shortfalls that are possible within 12 months after the reporting date.

- Financial assets with significant increase in credit risk - as the present value of all cash shortfalls that result from all possible default events over the expected life of the financial assets.

- Financial assets that are credit impaired - as the difference between the gross carrying amount and the present value of estimated cash flows.

Financial assets are written off / fully provided for when there is no realistic prospect of recovering a financial asset in its entirety or a portion thereof.

However, financial assets that are written off could still be subject to enforcement activities under the Company''s recovery procedures, taking into account legal advice where appropriate. Any recoveries made are recognised in the Statement of Profit and Loss.

e. ) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.

f. ) Securities for trade

The Company deals in Equity Shares which are held for the purpose of trading. Such Securities are valued at Fair value in accordance with IndAS 109 and such securities are classified at fair value through Profit and loss.

g. ) Investment in Equity Shares and Mutual

Fund

Company also invests in Securities like Equity shares and mutual funds other than held for trade or, held for strategic purpose. In respect of such for a strategic financial instruments, company decides to measure them, at the time of initial recognition, at FVTPL or FVTOCI based on management intention.

h. ) Financial guarantee contracts

Financial guarantee contracts are those contracts that require a payment to be 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. Financial 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 Ind AS 109 and the amount recognised less cumulative amortisation. No such liability has arised on the company, till date.

i.) Hedging of Foreign Currency Risk

The company uses derivative financial instruments, such as Future Currency contracts to hedge its foreign currency risks. Such derivative instruments are measured at fair value. These derivatives are carried as financial assets when fair value is positive and as financial liabilities when fair value is negative. Any gains or losses arising from changes in the fair value of such derivatives are taken directly to profit & loss.

2.11 Fair Value Measurement:

The Company measures financial instruments such as derivatives and securities for trade at fair value at fair value at each balance sheet date. Fair value is 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: i) In the principal market for the asset or liability, or ii) In the absence of a principal market, in the most advantageous market for the asset or liability accessible to the Company

Fair value measurements are categorized under Level 1, Level 2 and Level 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entity. Information about the valuation techniques and inputs used in determining the fair value of various assets and liabilities are disclosed in Note 54.

2.12 Revenue Recognition

Revenue (other than for those items to which Ind AS 109 Financial Instruments are applicable) is measured at fair value of the consideration received or receivable. The Company recognises revenue from contracts with customers based on a five step model as set out in Ind AS 115 - “Revenue from Contracts with Customers”, to determine when to recognize revenue and at what amount. Revenue is measured based on the consideration specified in the contract with a customer. Revenue from contracts with customers is recognised when services are provided and it is highly probable that a significant reversal of revenue is not expected to occur.

Revenue is recognised when (or as) the Company satisfies a performance obligation by transferring a promised service or goods (i.e. an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.

When (or as) a performance obligation is satisfied, the Company recognizes as revenue the amount of the transaction price (excluding estimates of variable consideration) that is allocated to that performance obligation. The Company applies the five-step approach for recognition of revenue:

• Identification of contract(s) with customers;

• Identification of the separate performance

obligations in the contract;

• Determination of transaction price;

• Allocation of transaction price to the separate performance obligations; and

• Recognition of revenue when (or as) each

performance obligation is satisfied.

(i) Brokerage income

It is recognised on trade date basis and is exclusive of Goods and Service Tax (GST), Securities Transaction Tax (STT) and Stamp Duty, wherever applicable.

(ii) Interest income

Interest income on financial assets at amortized cost is recognized on a time proportion basis.

(iii) Dividend income

Dividend income is recognized in the statement of profit or loss on the date that the Company''s right to receive payment is established, it is probable that the economic benefits associated with the dividend will flow to the entity and the amount of dividend can be reliably measured. This is generally when the Board of Directors/ shareholders approve the dividend.

(iv) Research Advisory income

Research and advisory income is accounted for on an accrual basis in accordance with the terms and tenure of the respective agreements entered into between the Company and the counter party.

(v) Market making fees (Incentive Income)

Incentives from exchange are recognized on point in time basis.

(vi) Portfolio management commission income

Portfolio management commissions are recognised on an accrual basis in accordance with the terms and tenure of the agreement entered with customers.

(vii) Proprietary Income (Income from trading in securities)

Ind AS115 is not applicable to this income and hence the revenue is recognised as per Ind AS 109 “Financial Instruments”, as and when trade is executed.

(viii) Rental Income

Lease income from operating leases where the Company is a lessor is recognized in income on a straight-line basis over the lease term unless the receipts are structured to increase in line with expected general inflation to compensate for the expected inflationary cost increases. The respective leased assets are included in the balance sheet based on their nature.

(ix) Revenue from Depository Operation

The income is recognized on accrual basis and as at the time when the right to receive is established by the reporting date.

(x) Other Income

Other Income have been recognized on an accrual basis in the Financial Statements, except when there is uncertainty of collection.

2.13 Income Taxes

The income tax expense comprises current and deferred tax incurred by the Company. Income tax expense is recognised in the income statement except to the extent that it relates to items recognised directly in equity or OCI, in which case the tax effect is recognised in equity or OCI. Income tax payable on profits is based on the applicable tax laws in each tax jurisdiction and is recognised as an expense in the period in which profit arises. Income taxes recognised in any year consists of following:

a.) Current Tax: Current tax is the expected tax payable/receivable on the taxable income or

loss for the period, using tax rates enacted for the reporting period and any adjustment to tax payable/receivable in respect of previous years. Current tax assets and liabilities are offset only if, the Company has a legally enforceable right to set off the recognised amounts; and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

b.) Deferred Tax: Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for tax purposes. The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised, for all deductible temporary differences, to the extent it is probable that future taxable profits will be available against which deductible temporary differences can be utilised. Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized, such reductions are reversed when the probability of future taxable profits improves.

The tax effects of income tax losses, available for carry forward, are recognised as deferred tax assets when it is probable that future taxable profits will be available against which these losses can be set-off. 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 the deferred tax asset to be recovered.

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

1.14 Retirement and other employee benefits (i) Short-term obligations

Short-term employee benefits comprise of employee costs such as salaries, bonus etc. and are recognized as an expense at the undiscounted amount in the Statement of Profit

and Loss for the year in which the related services are rendered. The Company recognises the costs of bonus payments when it has a present obligation to make such payments as a result of past events and a reliable estimate of the obligation can be made.

(ii) Post-employment obligations:

Post-employment benefit plans are classified into defined benefit plans and defined contribution plans as under:-

Defined contribution plan: Contribution made to the recognised provident fund, employees state insurance scheme etc. which are defined contribution plans, is charged to the Statement of Profit and Loss in the period in which they occur.

Defined benefits plan: The Company has unfunded gratuity as defined benefit plan where the amount that an employee will receive on separation/retirement is defined by reference to the employee''s length of service and final salary. The defined benefit obligation is calculated at or near the Balance Sheet date by an independent actuary using the projected unit credit method. The liability recognised in the Balance Sheet in respect of gratuity is the present value of defined benefit obligation at the Balance Sheet date together with the adjustments for unrecognised actuarial gain or losses and the past service costs. The change in the liability between the reporting dates is charged in the Statement of profit and loss (except for the unrealised actuarial gains and losses). Actuarial gains and losses comprise experience adjustment and the effects of changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income.

An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each year end.”

2.15 Share based payments:

Employees Stock Option Scheme (Equity-settled transactions): The Company grants share-based awards to eligible employees with a view to attract

and retain talent, align individual performance with the Company''s objectives, and provide an incentive to continue contributing to the success of the Company. The Company has two Employee Stock Option Schemes viz. Share India Employees Stock Option Scheme, 2022 (“ESOP 2022”) and Share India Employees Stock Option Scheme-II (“ESOP-II”).

Employees (including senior executives) of the Company receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions).

The grant-date fair value of equity-settled share-based payment arrangements granted to employees under the Employee Stock Option Scheme (‘ESOS'') is generally recognised as an employee stock option scheme expense, with a corresponding increase in equity, on a straight line basis over the vesting period of the awards. Such fair valuation is calculated using appropriate Valuation Model. The increase in equity is presented as “Equity-settled Share options outstanding Reserve”, as separate component in equity.

Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Company''s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. No expense is recognized for awards that do not ultimately vest because performance and/or service conditions have not been met. At the end of each period, the Company revises its estimates of the number of options that are expected to be vested based on the non-market performance conditions at the vesting date.

When the terms of an equity-settled awards are modified, the minimum expense recognised is the expense had the terms not been modified, if the original terms of the award are met. An additional expense is recognised for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee as measured at the date of modification. The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share.

2.16 Borrowing Costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

2.17 Provisions and contingencies:

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. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation.

Provisions are determined by discounting the expected future cash flows (representing the best estimate of the expenditure required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. Expected future operating losses are not provided for.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, 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 the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent liabilities do not warrant provisions but are disclosed unless the possibility of outflow of resources is remote.

Contingent assets are neither recognised nor disclosed in the financial statements. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate.

2.18 Dividends

The Company recognises a liability to make cash distributions to its equity holders when the distribution is authorised and the distribution is no longer at the discretion of the Company. As per the corporate laws in India, a distribution is authorised when it is approved by the shareholders. A corresponding amount is recognised directly in equity.

2.19 Foreign currency transactions and translations

Initial recognition: Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions.

Conversion: Monetary assets and liabilities denominated in foreign currency, which are outstanding as at the reporting date, are translated at the reporting date at the closing exchange rate and the resultant exchange differences are recognised in the Statement of Profit and Loss. Non-monetary items that are measured at historical cost in a foreign currency are translated using the spot exchange rates as at the date of recognition”

2.20 Earnings per share

a) . Basic earnings per share

Basic earnings per share is calculated by dividing the net profit for the period (excluding other comprehensive income) attributable to equity share holders of the Company by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus element of right issue in equity shares issued during the year.

b) . Diluted earnings per share

Diluted earnings per share is computed by dividing the net profit for the period attributable to equity shareholders by the weighted average number of shares outstanding during the period as adjusted for the effects of all diluted potential equity shares except where the results are anti-dilutive.

2.21 Statement of Cash Flows:

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from operating activities is reported using indirect method adjusting the net profit for the effects of:

- changes during the period in operating receivables and payables transactions of a non-cash nature

- non-cash items such as depreciation, provisions, deferred taxes and unrealised foreign currency gains and losses.

- all other items for which the cash effects are investing or financing cash flows.

2.22 Segment Reporting

The segment reporting is prepared in accordance with Ind AS-108, “Operating Segment” (specified under the section 133 of the Companies Act 2013 (the Act) read with Companies (Indian Accounting Standards) Rule 2015 (as amended from time to time) and other relevant provision of the Act).

The Company''s business is to provide broking services, to its clients, in the capital markets in India and also to do proprietary trading in derivative and cash market. All other activities of the Company are ancillary to the main business.

The Chief Operating Decision Maker (‘CODM'') monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the financial statements.

The accounting principles consistently used in the preparation of the financial statements are also consistently applied to record income and expenditure of individual segments.

Revenue and expense in relation to segments are categorized based on items that can be individually identifiable to that segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as “unallocable”.

Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets, borrowings and other assets and liabilities that can not be allocated to a segment on reasonable basis have been disclosed as “unallocable”.

2.23 Write-offs

The Company reduces the gross carrying amount of a financial asset when the Company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. This is generally the case when the Company determines that the client or borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subjected to write-offs. Any subsequent recoveries

against such loans are credited to the statement of profit and loss.

2.24 Exceptional Items

The Company recognises exceptional items when items of income and expenses within Statement of Profit and Loss from ordinary activities are of such size, nature or incidence that their disclosure is relevant to explain the performance of the enterprise for the period. Significant impact on the financial statements arising from impairment of investments in subsidiaries and associates, gain/ loss on disposal of subsidiaries and associates (other than major lines of business that meet the definition of a discontinued operation) are considered and reported as exceptional items.

2.25 Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after the balance sheet date of material size or nature are only disclosed.

2.26 Standards issued but not effective

Ministry of Corporate Affairs (MCA), vide notification dated 31^st March, 2023, notified Companies (Indian Accounting standards) Amendment Rules, 2023 (the ‘Rules'') which amends certain accounting standards, and are effective from 1 April 2023 :

a. Ind AS 1 - Presentation of Financial

Statements Company needs to disclose their material accounting policies rather than their significant accounting policies. Accounting policy information is material if, together with other information can reasonably be expected to influence decisions of primary users of general purpose financial statements.

---

Mar 31, 2018

Note No.1 CORPORATE INFORMATION

Share India Securities Ltd. is a member of Cash, F&O and Currency Derivatives Segments of BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). Besides, the Company is also serving as a Depository Participant of Central Depository Services (India) Limited (CDSL).

(b) Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. All these Shares have same rights and preferences with respect to payment of dividend, repayment of capital and voting.

Note No. 2 In the opinion of the Board of Directors, the Current Assets and Loans and Advances have a realization value in the ordinary course of business, which is at least equivalent to the amount stated in the balance sheet.

Note No. 3 The Company had no employee drawing remuneration in excess of Rs. 1,02,00,000/- or Rs. 8,50,000/- per month, during the year ended March 31, 2018.

Note No.4 INCOME TAXES

(i) Provision for current tax has been made on the basis of taxable Income computed in accordance with the applicable provisions of the Income Tax Act, 2013.

(ii) Accounting for Taxes on Income as per AS-22

Deferred Income Taxes reflects the impact of current year timing difference between taxable income and income as per Profit & Loss A/c. Deferred Tax asstes are recognized only to the extent, there is a reasonable certainty that different future taxable income will be available.

Note No.5 SEGMENT REPORTING

In the opinion of the management, there is only one reportable segment as envisaged by AS-17 ‘Segment Reporting’. Accordingly no separate disclosure for segment reporting is required to be made in the financial statements of the company.

Secondary segmentation based on geography has not been presented as the company operates only in India and the company perceives that there is no significant difference in its risk & returns in operating from different geographic areas within India.

Note No.6 DUES PAYABLE TO MICRO AND MEDIUM SCALE BUSINESS ENTITIES

There were no Micro, Small and Medium Enterprises, to whom the Company owed dues, which were outstanding for more than 45 days as at March 31, 2018. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent, such parties have been identified on the basis of information available with the Company.

1. There Is No Deviation In Uses Of Proceeds From Objects Stated In The Offer Documents

2. The Amount Pending Utilisation For Capital Expenditure Incurred For Branch Expansion And To Meet Sales And Marketing Expenditure Is Kept In Fixed Deposits With Bank .

Note No.7 PREVIOUS YEAR FIGURES

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