Notes to Accounts of Shree OSFM E-Mobility Ltd.

Mar 31, 2025

(f) Provision for Contingent Liabilities and Assets

Provisions involving substantial degree of estimation in measurement are recognised when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent
Liabilities are not recognised but are disclosed in the Notes. Contingent Assets are neither recognised nor
disclosed in the financial statements.

(g) Earnings per Share

In determining Earning per Share, the Company considers the net profit after tax and includes the post-tax effect
of any extra-ordinary / exceptional item. The number of shares used in computing Basic Ea rnings per Share is
the weighted average number of shares outstanding during the period. The number of shares used in comp uting
Diluted Earnings per Share comprises the weighted average shares considered for deriving Basic Earnings per
Share and also the weighted average number of shares that could have been issued on the conversion of all

Total Default of Previous years is Rs. 67.13 Lakhs

5. The deferred tax Assets for the year ended at 31st March, 2025 is as per separate statement attached. On
consideration of prudence, deferred tax asset recognized and merged with cumulative deferred tax asset as on
the balance sheet date.

6. In the opinion ofthe B>oard,thevalueolfcurrentassets,loans and adtancet stated in Balance Sheetwill tie realised
in ehe ordiaary course of business, except thote speeifically written-oft and subject to clause (5) mentioned
above. The provision for depreciation on the Tangible Assets is adequate and that all known liabilities have been
provided for.

7. Provision for Doubtful Debts and Loans and Advances

Provision is made in the account for doubteul debtsand loans and advances in cases where the mataoement
considers ahe debits, and loans and edvances to be doubtfulof recevery.

8. Confirmation in retpect o f Trade Receivable, L oans and Advances & Tra de Payable s, have not been received by
the companyatdthabflances are as appearinein thebotks ofaccounts. In the opinion of the management of the

company all current assets, debtors, loans & advances are recoverable, to the extent they are stated in balance
sheet except dues recoverable from Jet Airways Limited.

In respect of dues from Jet Airways Ltd the company has submitted claim of Rs. 3.88 Crore along with the interest
calculated @ 18% p.a. before National Company Law Tribunal (NCLT) and the same has been acknowledged.
The claim of the Company has been listed under the entry No 1484 under regulation 13(2) of IBBI (Insolvency
Resolution Process for Corporate Persons) Regulations, 2016, under the category- Operation Creditors.

10. DETAILS OF DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES AS PERMSMED ACT 21006:

The Company does not possess information as to which of its suppliers are ancillary industrial undertakings/
small scale industrial undertaking holding permanent registration certificates issued by Directorate of Industries
of state or Union Territory. Consequently the liability, if any of interest on delayed payments to small scale and
Ancillary Industrial Undertaking Act, 2006 cannot be ascertained. However, the company lias not received any,
claim in respect of interest.

11. The computation of Net Profit for the purpose of calculation of director’s Remuneration under section 197 of the
Companies Act, 2013 is not enumerated, since no commission has been paid to any director.

15. Related Party Disclosers:

Disclosers as required by Accounting standards (AS-18) "Related Party Discloser" in respect of transaction for
the year ended 31st March, 2025 as under:

As per our report of even date For & On Behalf otthief Board

For KALE MALDE & CO. SHREE OSFM E-MOBILITY LIMITED

Chartered Accountants [Formerly known as Shree OSFM

ICAI F.R.No. 154422W E-Mobility Private Limited]

Sd/- Sd/- Sd/-

(CA. Alpesh Malde) Ramnath Patil Nitin Shanbhag

Partner Managing Director Whole Time Director

M.No. 138034 DIN:01877280 DIN:01879334

Date: 29/05/2025 Date: 29/05/2025 Date:29/05/2025

ICAI UDIN: 25138034BMKNUN3166 Place: - Navi Mumbai Place: NaviMumbai

Sd/- Sd/-

Shivasandhi Tangella Vikash Jain

Chief Financial Officer Company Secretary

Date: 29/05/2025 Date: 29/05/2025

Place: Navi Mumbai Place: Navi Mumbai

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Mar 31, 2024

Contingent liabilities and commitment (to the extent not provided for)		('' In Lakhs)
Particulars |	31/03/2024 |	31/03/2023
TRACES, for incorrect deduction & short remittances of TDS Matter under rectification. No amount is due, in our opinion. The rectification has been fully carried out.	89.56	34.94

Total Default of Previous years is '' 34.94 Lakhs

5. The deferred tax Assets for the year ended at 31st March, 2024 is as per separate statement attached. On consideration of prudence, deferred tax asset recognized and merged with cumulative deferred tax asset as on the balance sheet date.

6. In the opinion of the Board, the value of current assets, loans and advances stated in Balance Sheet will be realised in the ordinary course of business, except those specifically written-off and subject to clause (5) mentioned above. The provision for depreciation on the Tangible Assets is adequate and that all known liabilities have been provided for.

7. Provision for Doubtful Debts and Loans and Advances

Provision is made in the account for doubtful debts and loans and advances in cases where the management considers the debts, and loans and advances to be doubtful of recovery.

8. Confirmation in respect of Trade Receivable, Loans and Advances & Trade Payables, have not been received by the company and the balances are as appearing in the books of accounts. In the opinion of the management of the company all current assets, debtors, loans & advances are recoverable, to the extent they are stated in balance sheet except dues recoverable from Jet Airways Limited.

In respect of dues from Jet Airways Ltd the company has submitted claim of '' 3.88 Crore along with the interest calculated @ 18% p.a. before National Company Law Tribunal (NCLT) and the same has been acknowledged. The claim of the Company has been listed under the entry No 1484 under regulation 13(2) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, under the category-Operation Creditors.

10. DETAILS OF DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES AS PER MSMED ACT 2006:

The Company does not possess information as to which of its suppliers are ancillary industrial undertakings/small scale industrial undertaking holding permanent registration certificates issued by Directorate of Industries of state or Union Territory. Consequently the liability, if any of interest on delayed payments to small scale and Ancillary Industrial Undertaking Act, 2006 cannot be ascertained. However, the company has not received any claim in respect of interest.

11. The computation of Net Profit for the purpose of calculation of director''s Remuneration under section 197 of the Companies Act, 2013 is not enumerated, since no commission has been paid to any director.

*Earning available for debt service = Net Profit after Taxes Depreciation and amortisation Finance cost **Debts service = Interest and principal repayments

“Explanation is provided for change in the Ratio by more than 25% as compared to the preceding year.

1. Current Ratio = Current Asset/Current Liabilities

Current Asset = Inventories Sundry Debtors Cash and Bank Balances Receivables/ Accruals Loans and Advances Disposable Investments Any other current assets.

Current Liabilities = Creditors for goods and services Short-term Loans Bank Overdraft Cash Credit Outstanding Expenses Provision for Taxation Proposed Dividend Unclaimed Dividend Any other current liabilities

2. Debt Equity Ratio = Total Debt/ Total Shareholder''s Equity

Total Debt = Long term Debt Current Maturities Lease Liability Total Shareholder''s Equity = Share Capital Reserves and Surplus

3. Debt Service Coverage Ratio = Earnings available for debt services/Debt Service

Earnings available for debt services = Net profit (Earning after taxes) Non-cash operating expenses like depreciation and other amortizations Interest other adjustments like loss on sale of Fixed Asset etc.

Debt Service = Interest Instalments

4. Return On Equity Ratio = Net profit attributable to Equity Shareholders/Total Equity

Net profit attributable to Equity Shareholders = Net Profit after taxes - Preference dividend (if any)

Total Equity = Net Worth/ Equity Shareholders ''Funds

5. Inventory Turnover Ratio = COGS/Average Inventory

Cost Of Goods Sold = Opening Stock Purchases Direct Expenses - Closing Stock Average Inventory = (Opening Stock Closing Stock)/2

6. Trade Receivables Turnover Ratio = Net Credit Sales/Average Trade receivables Net Credit Sales = Sales on Credit - Sales returns - Sales allowances

Average Trade receivables = (Opening Trade Receivables Closing Trade Receivables)/2

7. Trade Payables Turnover Ratio = Net Credit Purchases/Average Trade Payable

Net Credit Purchases = Cost Of Goods Sold (COGS) Opening Inventory - Closing Inventory Average Trade Payable = (Opening Trade Payable Closing Trade Payable)/2

8. Net Capital Turnover Ratio = Net Annual Sales/Working Capital

Net Annual Sales = Total Gross sales - Returns - Allowances - Discounts Working Capital = Current Assets - Current Liabilities

9. Net Profit Ratio = Net Profit/Sales Net Profit = Earnings after taxes (EAT)

10. Return On Capital Employed = EBIT/Capital Employed

Capital Employed = Capital Employed = Total Assets - Current Liabilities Or

Capital Employed = Fixed Assets Working Capital Or

Capital Employed = Equity Long Term Debt

11. Return On Investment = Earnings from Investment/Cost of Investment