Notes to Accounts of Sindhu Trade Links Ltd.

Mar 31, 2025

u) Provisions and Contingent liabilities

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.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be
confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company. Such liabilities are disclosed by way of notes to the financial statements.

v) Segment Reporting

The Chief Financial Officer of the Company has been identified as the Chief Operating Decision Maker (CODM) as
defined by Ind AS 108, “Operating Segments". Operating segments are reported in a manner consistent with the internal
reporting provided to the CODM. The accounting policies adopted for segment reporting are in conformity with the
accounting policies adopted for the Company. Revenue and expenses have been identified to segments on the basis of
their relationship to the operating activities of the segment. Income/ costs which relate to the Company as a whole and are
not allocable to segments on a reasonable basis, have been included under Unallocated Income/ costs. Interest income
and expense are not allocated to respective segments (except in case of financial services segment).

w) Deferred Revenue and Unbilled Revenue_

Amounts received from customers or billed to customers, in advance of services performed are recorded as deferred
revenue under other current liabilities. Unbilled revenue included in other financial assets, represents amounts recognised
in respect of services performed in accordance with contract terms, not yet billed to customers as at the year end.

x) Significant management judgements in applying accounting policies and estimation uncertainty

When preparing the financial statements, management makes a number of judgments, estimates and assumptions
about the recognition and measurement of assets, liabilities, income and expenses. Uncertainty about these assumptions
and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities
affected in future periods.

Impairment of non-financial assets

In assessing impairment, management estimates the recoverable amount of each asset or cash-generating unit based on
expected future cash flows and uses an interest rate to discount them. Estimation uncertainty relates to assumptions about
future operating results and the determination of a suitable discount rate.

Depreciation and useful lives of property, plant and equipment

Property, plant and equipment are depreciated over the estimated useful lives of the assets, after taking into account
their estimated residual value. Management reviews the estimated useful lives and residual values of the assets annually
in order to determine the amount of depreciation to be recorded during any reporting period. The useful lives and residual
values are based on the Company''s historical experience with similar assets and take into account anticipated
technological changes. The depreciation for future periods is adjusted if there are significant changes from previous
estimates.

Recoverability of trade receivable

Judgments are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and
timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds
resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of
recognition and quantification of the liability require the application of judgment to existing facts and circumstances, which
can be subject to change. Since the cash outflows can take place many years in the future, the carrying amounts of
provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.

Defined benefit obligation (DBO)

Management''s estimate of the DBO is based on a number of critical underlying assumptions such as standard rates of
inflation, mortality, discount rate and anticipation of future salary increases. Variation in these assumptions may
significantly impact the DBO amount and the annual defined benefit expenses.

Defined contribution plan

a) Amount of Rs. 205.20 Lakhs (31st March 2024 Rs. 249.17 Lakhs) pertaining to employers'' contribution to provident fund,
pension fund, labour welfare fund and administration charges is recognized as an expense and included in "Employee
benefits " in Note 34.

b) Defined benefit plan:

Gratuity plan:

The Company maintains a gratuity provision where in lump sum benefits linked to the qualifying salary and completed
years of service with the Company at the time of separation. Every employee who has completed 5 years of continuous
service is entitled to receive gratuity at the time of his retirement or separation from the organization whichever is earlier.
However the condition of completion of 5 years of service is not applicable where separation is on account of disability or
death of an employee. The gratuity benefit that is payable to any employee, is computed in accordance with the provisions
of “The Payment of Gratuity Act, 1972”.

Risk Analysis:

The above defined benefit plan expose the Company the following risks:

i) Interest rate risk

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined b

ii) Salary inflation risk

Higher than expected increases in salary will increase the defined benefit obligation.

iii) Demographic risk:

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability
and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon
the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because
in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a
long service employee.

y) Earnings per share

The Company presents basic and diluted earnings per share data for its equity shares. Basic and diluted earnings per
share is calculated by dividing the profit or loss attributable to owners of the equity shares of the Holding Company by the
weighted average number of equity shares outstanding during the year.

z) Government Grants

Government grants including any non-monetary grants are recognised where there is reasonable assurance that the grant
will be received and all attached conditions will be complied with.

Government grants are recognised in the statement of profit and loss on a systematic basis over the periods in which the
related costs, for which the grants are intended to compensate, are recognised as expenses.

Government grants related to property, plant and equipment are presented at fair value and grants are recognised as
deferred income.

aa) Exceptional Items

When items of income and expense 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, the nature and
amount of such material items are disclosed seperately as exceptional items.

ab) Events after reporting period

Adjusting events are events that provide further evidence of conditions that existed at the end of the reporting period. The
financial statements are adjusted for such events before authorisation for issue.

Non-adjusting events are events that are indicative of conditions that arose after the end of the reporting period. Non¬
adjusting events after the reporting date are not accounted, but disclosed.

ac) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakhs as per the
requirement of Schedule III, unless otherwise stated.

2 (B) Critical Accounting Judgements and Key Sources of Estimation Uncertainty_

The preparation of the Company''s Financial Statements requires management to make judgement, estimates and
assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the accompanying
disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material
adjustment to the carrying amount of assets or liabilities affected in next financial years.

a) Recoverability of T rade Receivables

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and
timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

b) Provisions

The timing of recognition and quantification of the liability (including litigations) requires the application of judgement to
existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are
reviewed regularly and revised to take account of changing facts and circumstances.

A. In accordance with Ind AS 108 ''Segment Reporting’ on segment reporting as specified in Section 133 of the Companies Act, 2013 read with Rule 7 of the
Companies (Accounts) Rule, 2014, the Company has identified four business segments viz. 1) Transportation & Logistics, 2) Oil , Lubricants & Spares, 3)
Finance & Investment and 4) Oil Drilling Operations. The above segments have been identified and reported taking into account the differing risks and returns,
and the current internal financial reporting systems. For each of the segments, the Chief operating decision maker (CODM) (Chief Financial Officer) reviews
internal management reports on at least a quarterly basis. The CODM monitors the operating results separately for the purpose of making decisions about
resource allocation and performance assessment.

Segment accounting policies

The accounting principles consistently used in the preparation of the financial statements and consistently applied to record revenue and expenditure in
individual segments are as set out in Note 2 to the financial statements. The accounting policies in relation to segment accounting are as under:

(a) Segment assets and liabilities

All segment assets and liabilities have been allocated to the various segments on the basis of specific identification. Segment assets consist principally of
property, plant and equipment, capital work in progress, inventories, trade receivables, financial assets, other current assets, other non-current assets and
loans. Segment assets do not include unallocated corporate fixed assets, cash and bank balances, advance tax and other assets not specifically identifiable
with any segment.

Segment liabilities include all operating liabilities and consist principally of trade payables and accrued liabilities. Segment liabilities do not include borrowings
and those related to income taxes.

(b) Segment revenue and expenses

Segment revenue and expenses are directly attributable to the segment and have been allocated to various segments on the basis of specific identification.
Segment revenue does not include interest income and other incomes in respect of non-segmental activities. Segment expenses do not include depreciation
on unallocated corporate fixed assets, interest expense, tax expense and other expense in respect of non-segmental activities.

Segment revenue, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable
expenditure/assets/liabilities include expenses/assets/liabilities which are not directly identifiable to any business segment.

42. Financial instruments - Fair values and risk management_

1. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations resulting in a financial loss to the Company. Credit risk arises principally from trade receivables,
loans & advances, cash & cash equivalents and deposits with banks and financial institutions and customers.

Trade receivables

Customer credit risk is managed according to the Company''s established policy, procedures and control relating to
customer credit risk management. Credit quality of a customer is assessed based on an credit rating scorecard and
individual credit limits are defined in accordance with this assessment.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large
number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

Cash and cash equivalents

The Company held cash and cash equivalents of Rs. 159.11 lakhs at 31st March 2025 (Rs. 471.33 lakhs at 31 March
2024) The cash and cash equivalents are held with bank and financial institution with high rating.

Deposits with banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in
accordance with the Company''s policy. Investments of surplus funds are made only with approved counterparties and
within credit limits assigned to each counterparty.

Credit risk is managed on Company wide basis. For banks/financial institutions, only high rated banks/institutions are
accepted.

Loans

The Company has given loans and advances as security deposits. The credit risk is managed by the Company in
accordance with the Company''s policy.

2. Liquidity risk

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

The Company has an appropriate liquidity risk management framework for the management of short, medium and long term funding and
liquidity management requirements. The Company manages liquidity risk by maintaining adequate cash reserves, banking facilities and
reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets
and liabilities.

The Company''s treasury department is responsible for managing the short term and long term liquidity requirements of the Company. Short
term liquidity situation is reviewed daily by Treasury. The Board of directors has established policies to manage liquidity risk and the
Company''s treasury department operates in line with such policies. Any breaches of these policies are reported to the Board of Directors.
Long term liquidity position is reviewed on a regular basis by the Board of Directors and appropriate decisions are taken according to the
situation.

Typically the Company ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 60 days,
including the servicing of financial obligations, this excludes the potential impact of extreme circumstances that cannot reasonably be
predicted, such as natural disasters.

3. Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates will affect the
Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to
manage and control market risk exposures within acceptable parameters, while optimising the return.

The Board of Directors is responsible for setting up of policies and procedures to manage market risks of the Company.
The regular reviews including diversifications of borrowings to mitigate the market risks are carried out considering the
rates of interest and other borrowing terms.

(in rs. laniis)

Measurement of fair values_

The different levels of fair value have been defined below:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and traded bonds that have quoted
price.

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 obseivable, 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. The fair value of financial assets and
liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from
observable current market transactions and dealer quotes of similar instruments. This level includes derivative MTM assets/liabilities.

Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield cuves

- the fair value of principal swaps is determined using forward exchange rates at the balance sheet date

- the fair value of the financial instruments is determined using discounted cash flow analysis.

The Company''s principal financial liabilities comprise loans and borrowings in domestic currency, trade payables and other
payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal
financial assets include loans, trade & other receivables, and cash and short-term deposits that derive directly from its
operations.

The Company is exposed to the following risks from its use of financial instruments:

- Credit risk

- Liquidity risk

- Market risk

This note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

Risk management framework

The Company''s activities makes it susceptible to various risks. The Company has taken adequate measures to address such
concerns by developing adequate systems and practices. The Company''s overall risk management program focuses on the
unpredictability of markets and seeks to manage the impact of these risks on the Company''s financial performance.

The Board of Directors has overall responsibility for the establishment and oversight of the Company''s risk management
framework. In order to institutionalize the risk management in the Company, an elaborate Enterprise wide Risk Management
(ERM) framework has been developed. As a part of the implementation of ERM framework, an Enterprise Risk Management
Committee (ERMC) with various Executive Directors as its members has been constituted with an objective to develop and
monitor the Company''s risk management policies and strengthen the risk management framework. Enterprise risk management
committee after deliberations has identified enterprise wide risk and various action plans for short term as well as long term have
been formulated to mitigate these risks.

The Committee is also responsible for reviewing and updating the risk profile, monitoring the effectiveness of the risk
management framework and reviewing at least annually the implementation of the risk management policy and framework. The
Committee reports regularly to the Board of Directors on its activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are
reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and
management standards and procedures, aims to develop a disciplined and constructive control environment in which all
employees understand their roles and obligations.

The Company has policies covering specific areas, such as interest rate risk, credit risk, liquidity risk, and the use of non¬
derivative financial instruments. Compliance with policies and exposure limits is reviewed on a continuous basis.

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

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

- maintain an appropriate capital structure of debt and equity.

The Board of Directors has the primary responsibility to maintain a strong capital base and reduce the cost of capital through prudent
management of deployed funds and leveraging opportunities in domestic and international financial markets so as to maintain investor,
creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital,
which the Company defines as result from operating activities divided by total shareholders'' equity. The Board of Directors also monitors
the level of dividends to equity shareholders.

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

The Company monitors capital, using a medium term view of three to five years, on the basis of a number of financial ratios generally used
by industry and by the rating agencies.

The Company monitors capital using gearing ratio which is net debt divided by total equity. Net debt comprises of long term and short term
borrowings. Equity includes equity share capital and reserves that are managed as capital. The gearing ratio at the end of the reporting
periods was as follows:

b With respect to investment property the fair valuation is based on current prices in the active market for similar properties as March declared and
provided by the management. The main inputs used by the management in determining the fair value are quantum, area, location, demand,
restrictive entry to the complex, age of building and trend of fair market rent in village, Garuda Nagar, Dipka area.

c The Company has not revalued its Property, Plant and Equipment (including Right-of Use Assets).

d The Company has not revalued its intangible assets.

No Loans or Advances in the nature of loans were granted to promoters, directors, KMPs and the related parties (as defined under Companies Act,
2013), either severally or jointly with any other person, that are repayable on demand or without specifying any term of repayment.

f No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and rules made thereunder.

g Company has borrowings from banks or financial institutions on the basis of security of current assets. In this respect please note that:-

1. Quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of
accounts except for differences for unbilled revenue and provisions.

h Company is not declared as a wilful defaulter by any bank or financial Institution or other lender.

i To the best of our knowledge and belief, Company has not entered into any transactions with companies struck off under Section 248 of the

Companies Act, 2013 or Section 560 of Companies Act, 1956.

j As on Balance Sheet ended 31st March 2025, neither any creation of charge nor any satisfaction thereof, is pending to be registered with ROC
beyond the statutory period.

k Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on
number of Layers) Rules, 2017.

l The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any
other person or entity, including foreign entities (“Intermediaries”) with the understanding (whether recorded in writing or otherwise) that the
Intermediary shall, whether, directly or indirectly lend or invest in other persons/entities identified in any manner whatsoever by or on behalf of the
Company (‘ultimate beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries except as given in footnote
of Note 5 & 6 being case of investment/loan to subsidiary.

m 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 Funding party (ultimate beneficiaries); or provide any guarantee, security or the like on behalf of the
ultimate beneficiaries.

n The company does not have such transaction which is not recorded in the book of account that has been surrender or disclosed as income during
the year in the tax assessment.

o The Company do not deal in Crypto currency or Virtual Currency.

p Company has complied with the provisons of Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

q During the year, no scheme of arrangements in relation to the Company has been approved by the competent authority in terms of Section 230 to

237 of the Companies Act, 2013. Accordingly, aforesaid disclosure are not applicable, since there were no transaction.

51 In the opinion of the management, the value on realisation of current assets, loans & advances in the ordinary course of
business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known
liabilities has been made. Further Debit and Credit balances are subject to confirmations.

52 Previous year figures have been regrouped and rearranged wherever necessary in line with Ind AS.

53 The Financial Statements were authorised for issue by the directors on 30th May, 2025.

As per our report of even date attached

For NGC and Associates LLP For and on behalf of the Board of Directors

Chartered Accountants
FRN: 033401N/N500351

Saurabh Sindhu Rudra Sen Sindhu

Director Director

DIN:02291158 DIN :00006999

Parduman Biji

Partner

Membership No. 095023

Place: New Delhi Vikas Hooda Alok Gupta Suchi Gupta

Date: 30th May 2025 Chief Financial Officer Chief Executive Officer Company Secretary

PAN : AATPH4946B PAN: AAOPG3659H M. No. : 26066

---

Mar 31, 2023

_Principal actuarial assumptions at the balance sheet date are as follows_

Economic assumptions:

The principal assumptions are the discount rate and salary escalation rate. The discount rate is generally based upon the market yields available on Government bonds at the accounting date with a term that matches that of the liabilities and the salary growth rate takes account of inflation, seniority, promotion and other relevant factors on long term basis. The assumptions used are summarized in the following table:

The weighted average duration to the payment of defined benefit obligation is 13 years (31 March 2022: 15 years).

Risk Analysis:

The above defined benefit plan expose the Company the following risks:

i) Interest rate risk

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the d

ii) Salary inflation risk

Higher than expected increases in salary will increase the defined benefit obligation.

iii) Demographic risk:

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee.

Fair value measurement

Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes are not available) and non-financial assets. This involves developing estimates and assumptions consistent with how market participants would price the instrument. Management bases its assumptions on observable data as far as possible but this is not always available. In that case management uses the best information available. Estimated fair values may vary from the actual prices that would be achieved in an arm''s length transaction at the reporting date.

y) Earnings per share

The Company presents basic and diluted earnings per share data for its equity shares. Basic and diluted earnings per share is calculated by dividing the profit or loss attributable to owners of the equity shares of the Holding Company by the weighted average number of equity shares outstanding during the year.

z) Government Grants

Government grants including any non-monetary grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with.

Government grants are recognised in the statement of profit and loss on a systematic basis over the periods in which the related costs, for which the grants are intended to compensate, are recognised as expenses.

Government grants related to property, plant and equipment are presented at fair value and grants are recognised as deferred income.

aa) Exceptional Items

When items of income and expense 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, the nature and amount of such material items are disclosed seperately as exceptional items.

ab) Events after reporting period

Adjusting events are events that provide further evidence of conditions that existed at the end of the reporting period. The financial statements are adjusted for such events before authorisation for issue.

Non-adjusting events are events that are indicative of conditions that arose after the end of the reporting period. Non-adjusting events after the reporting date are not accounted, but disclosed.

ac) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakhs as per the requirement of Schedule III, unless otherwise stated.

2 (B) Critical Accounting Judgements and Key Sources of Estimation Uncertainty

The preparation of the Company''s Financial Statements requires management to make judgement, estimates and assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in next financial years.

a) Recoverability of Trade Receivables

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

b) Provisions

The timing of recognition and quantification of the liability (including litigations) requires the application of judgement to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances

c) Global Health Pandemic on COVID-19

The outbreak of COVID-19 pandemic across the globe and in India has contributed to a significant decline and volatility in the global and Indian financial markets and slowdown in the economic activities

The extent to which the COVID-19 pandemic will impact the Company''s results will dependon future developments, which are highly uncertain, including, among other things, any new information concerning the severity of the COVID-19 pandemic and any action to contain its spread or mitigate its impact whether government-mandated or elected by the Company. Given the uncertainty over the potential macro-economic condition, the impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results and the Company will continue to closely monitor any material changes to future economic conditions.

b) Terms/rights attached to equity shares

The Company has only one class of equity shares, having a par value of Re. 1 per share. All shares rank pari passu with respect to dividend, voting rights and other terms. Each shareholder is entitled to one vote per share. The dividend proposed, if any, by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. The repayment of equity share capital in the event of liquidation and buy back of shares are possible subject to prevalent regulations. In the event of liquidation, normally the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

* Nature of security for cash credits and working capital demand loans

i Cash Credit of Rs. 3,97,77,363/- (Prev year: Rs. 4,93,78,306) from ICICI Bank is secured against pari passu charge with HDFC Bank & IndusInd Bank on the entire stocks of raw material, stores etc and book- debts receivables etc and Second pari passu charge on the property of M/s Sindhu Realtors Ltd. The facility was taken with a limit of Rs. 5 crores from ICICI Bank carries interest rate at MCLR -6M(8.6%) 3.75% p.a.

ii Cash Credit of Rs. 8,55,22,478/- (Prev year: 2,72,88,391) from IndusInd Bank is secured through first pari passu charge by way of hypothecation on the entire current assets ofthe company alongwith the otherlenders,i.e, ICICI Bank and HDFC Bank and 2nd charge on the property of the companysituated in Tifra, Bilaspur (C.G.). The facility allows to the company to use Rs. 10 Crores for its working capital requirement on a cost of MCLR 2%.

iii Cash Credit of Rs. 9,59,36,834/- (Previous year Rs. 9,95,33,055) and invoice discounting of Rs. Nil (Previous year Rs.6,50,56,759/-) from HDFC Bank is secured by way of firstpari passu charge on entire assets ofthe company alongwith otherlenders i.e. ICICI Bank and IndusInd Bank and exclusive charge on land and building ofthe M/s Indus Automobiles situated at Kh No. 84, Village Hardi, Raipur-Bilaspur Road, Bilaspur and personal guarantee of Mr Satyapal Sindhu , Mr Rudra Sen Sindhu,and Mr Vrit Pal Sindhu. It carries interest rate at 12.5%.

Disclosure of payable to vendors as defined underthe "Micro, Small and Medium Enterprise DevelopmentAct, 2006” is based on the information available with the Company regarding the status of registration of such vendors under the said Act, as per the intimation received from them on requests made by the Company. There are few cases of deficiency in quality of goods and services given by these vendors. In these cases, the amounts payable are not due and hence no provision of interest has been made therein. There are no overdue principal amounts / interest payable amounts for delayed payments to such vendors at the Balance Sheet date. There are no delays in payment made to such suppliers during the year or for any earlier years and accordingly there is no interest paid or outstanding interest in this regard in respect of payment made during the year or on balance brought forward from previous year.

(Rs. Lakh)
PARTICULARS		As at 31st March 2023	As at 31st March 2022
40 A.	Contingent Liabilities (to the extent not provided for) Outstanding guarantees and counter guarantees to various banks, in respect of the guarantees given by those banks in favor of various government authorities and others In respect of subsidiaries of the Company:
i.	Param Mitra Coal Resources Pte Ltd. (Corporate Guarantee given Bellorophan Mauritius Limited (Novated by Chmera Partners Limited) and Newport Advisors Limited of US$ 5 Million (Prev Year: 75.81), Estimated at exchange rate of Rupees 82.22 per USD)	4,111.00	3,790.50
ii.	Oceania Resources Pte Ltd. (Corporate Guarantee is given of US$ 63 Million to ICICI Bank (Prev year: US$ 63 Million), Estimated at exchange rate of 82.22 (Prev. year: 75.81) Rupees per USD)	51,798.60	47,760.30
iii.	SBLC of 5.6 Million USD (Prev Year 9 Million) from Indusind Bank issued to Param Mitra Resources Pte Ltd. estimated at exchange rate of 82.22 (Prev. year 75.81) Rupees per USD)	4,604.32	6,822.90
iv	Param Mitra Coal Resources Pte Ltd. (Parent Gaurantee of 20 Million USD (Prev. year 34 Million USD)issued in favour of Azalea Investment holdings Limited at exchange rate of 82.22 (Previous Year 75.81) Rupees per USD)	16,444.00	25,775.40
v	Indus Automotives Pvt Ltd. (Corporate Guarantee issued in favour of SBI for an amount of Rs 5 Crore)	-	500.00

# Claims against the Company, not acknowledged as debts for the year ended March 31, 2023 include demand order received from Principal Commissioner, Custom House Vishakhapatnam for payment of custom duty of Rs. 8,87,32,309 and penalty of Rs. 1,00,00,000. The Company has filled an appeal with CESTAT against the same.

## Claims against the Company, not acknowledged as debts for the year ended March 31, 2023 include demand order received from Principal Commissioner, Central Goods and Service Tax, Delhi North for payment of custom duty of Rs. 8,16,28,638 and penalty of Rs. 8,16,28,638 u/s 78 of Finance Act, 1994 read with Section 174 of the CGST Act, 2017. The Company has filled an appeal with CESTAT against the same.

41 Segment reporting:_

A. In accordance with Ind AS 108 ''Segment Reporting'' on segment reporting as specified in Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rule, 2014, the Company has identified five business segments viz. 1) Transportation & Logistics, 2) Oil, Lubricants & Spares, 3) Finance & Investment, 4) Generation & Supply of Electricity and 5) Oil Drilling Operations. The above segments have been identified and reported taking into account the differing risks and returns, and the current internal financial reporting systems. For each of the segments, the Chief operating decision maker (CODM) (Chief Financial Officer) reviews internal management reports on at least a quarterly basis. The CODM monitors the operating results separately for the purpose of making decisions about resource allocation and performance assessment.

Segment accounting policies

The accounting principles consistently used in the preparation of the financial statements and consistently applied to record revenue and expenditure in individual segments are as set out in Note 2 to the financial statements. The accounting policies in relation to segment accounting are as under:

(a) Segment assets and liabilities

All segment assets and liabilities have been allocated to the various segments on the basis of specific identification. Segment assets consist principally of property, plant and equipment, capital work in progress, inventories, trade receivables, financial assets, other current assets, other non-current assets and loans. Segment assets do not include unallocated corporate fixed assets, cash and bank balances, advance tax and other assets not specifically identifiable with any segment.

Segment liabilities include all operating liabilities and consist principally of trade payables and accrued liabilities. Segment liabilities do not include borrowings and those related to income taxes.

(b) Segment revenue and expenses

Segment revenue and expenses are directly attributable to the segment and have been allocated to various segments on the basis of specific identification. Segment revenue does not include interest income and other incomes in respect of non-segmental activities. Segment expenses do not include depreciation on unallocated corporate fixed assets, interest expense, tax expense and other expense in respect of non-segmental activities.

42. Financial instruments - Fair values and risk management_

1. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations resulting in a financial loss to the Company. Credit risk arises principally from trade receivables, loans & advances, cash & cash equivalents and deposits with banks and financial institutions and customers.

Trade receivables

Customer credit risk is managed according to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an credit rating scorecard and individual credit limits are defined in accordance with this assessment.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

Cash and cash equivalents

The Company held cash and cash equivalents of Rs.437.82 Lakh at 31st March 2023 (Rs. 470.67 Lakh at 31 March 2022) The cash and cash equivalents are held with bank and financial institution with high rating.

Deposits with banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with the Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty.

Credit risk is managed on Company wide basis. For banks/financial institutions, only high rated banks/institutions are accepted.

Loans

The Company has given loans and advances as security deposits. The credit risk is managed by the Company in accordance with the Company’s policy.

(a) Financial assets for which loss allowance is measured using 12 month expected credit losses

The Company has assets where the counter- parties have sufficient capacity to meet the obligations and where the risk of default is very low. Accordingly, loss allowance for impairment has not been recognised.

(b) Financial assets for which loss allowance is measured using life time expected credit losses

The Company has customers with strong capacity to meet the obligations and therefore the risk of default is negligible or nil. Further, management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full, based on historical payment behavior and extensive analysis of customer credit risk. Hence, no impairment loss has been recognised during the reporting periods in respect of trade receivables.

2. Liquidity risk

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

The Company has an appropriate liquidity risk management framework for the management of short, medium and long term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate cash reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

The Company''s treasury department is responsible for managing the short term and long term liquidity requirements of the Company. Short term liquidity situation is reviewed daily by Treasury. The Board of directors has established policies to manage liquidity risk and the Company''s treasury department operates in line with such policies. Any breaches of these policies are reported to the Board of Directors. Long term liquidity position is reviewed on a regular basis by the Board of Directors and appropriate decisions are taken according to the situation.

Typically the Company ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 60 days, including the servicing of financial obligations, this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.

3. Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

The Board of directors is responsible for setting up of policies and procedures to manage market risks of the Company. The regular reviews including diversifications of borrowings to mitigate the market risks are carried out considering the rates of interest and other borrowing terms.

The Company''s fixed rate instruments are carried at amortised cost. They are therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

Cash flow sensitivity analysis for variable-rate instruments

A change of 50 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The analysis is performed on the same basis for the previous year.

(b) Fair value hierarchy

This section explains the judgments and estimates made in determining the fair values of the financial instruments that are measured at amortized cost, FVTPL and FVTOCI and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

The Company has an established control frameworkwith respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements and reports directly to the Chief finance officer. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should be classified. Significant valuation issues are reported to the Company''s audit committee.

The different levels of fair value have been defined below:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and traded bonds that have quoted price.

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. The fair value of financial assets and liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer quotes of similar instruments. This level includes derivative MTM assets/liabilities.

Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves

- the fair value of principal swaps is determined using forward exchange rates at the balance sheet date

- the fair value of the financial instruments is determined using discounted cash flow analysis.

The carrying amounts of trade receivables, trade payables, cash and cash equivalents, bank balances other then cash, deposits with banks and interest accrued but not due and other current financial assets and current financial liabilities, approximates the fair values, due to their short-term nature.

Non current financial assets consists of fixed deposits whose the carrying amounts are equal to the fair values.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

The Company''s principal financial liabilities comprise loans and borrowings in domestic currency, trade payables and other payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include loans, trade & other receivables, and cash and short-term deposits that derive directly from its operations.

Risk management framework

The Company''s activities makes it susceptible to various risks. The Company has taken adequate measures to address such concerns by developing adequate systems and practices. The Company''s overall risk management program focuses on the unpredictability of markets and seeks to manage the impact of these risks on the Company''s financial performance.

The Board of Directors has overall responsibility for the establishment and oversight of the Company''s risk management framework. In order to institutionalize the risk management in the Company, an elaborate Enterprise wide Risk Management (ERM) framework has been developed. As a part of the implementation of ERM framework, an Enterprise Risk Management Committee (ERMC) with various Executive Directors as its members has been constituted with an objective to develop and monitor the Company''s risk management policies and strengthen the risk management framework. Enterprise risk management committee after deliberations has identified enterprise wide risk and various action plans for short term as well as long term have been formulated to mitigate these risks.

The Committee is also responsible for reviewing and updating the risk profile, monitoring the effectiveness of the risk management framework and reviewing at least annually the implementation of the risk management policy and framework. The Committee reports regularly to the Board of Directors on its activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has policies covering specific areas, such as interest rate risk, credit risk, liquidity risk, and the use of nonderivative financial instruments. Compliance with policies and exposure limits is reviewed on a continuous basis.

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

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

- maintain an appropriate capital structure of debt and equity.

The Board of Directors has the primary responsibility to maintain a strong capital base and reduce the cost of capital through prudent management of deployed funds and leveraging opportunities in domestic and international financial markets so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital, which the Company defines as result from operating activities divided by total shareholders'' equity. The Board of Directors also monitors the level of dividends to equity shareholders.

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

The Company monitors capital, using a medium term view of three to five years, on the basis of a number of financial ratios generally used by industry and by the rating agencies.

The Company monitors capital using gearing ratio which is net debt divided by total equity. Net debt comprises of long term and shortterm borrowings. Equity includes equity share capital and reserves that are managed as capital. The gearing ratio at the end of the reporting periods was as follows:

b The fair valuation is based on current prices in the active market for similar properties as Marchlared and provided by the management. The main inputs used by the management in determining the fair value are quantum, area, location, demand, restrictive entry to the complex, age of building and trend of fair market rent in village, Garuda Nagar, Dipka area.

c The Company has not revalued its Property, Plant and Equipment (including Right-of Use Assets).

d The Company has not revalued its intangible assets.

e No Loans or Advances in the nature of loans were granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013),

either severally or jointly with any other person, that are repayable on demand or without specifying any term of repayment.

f No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

g Company has borrowings from banks or financial institutions on the basis of security of current assets. In this respect please note that:-

1. Quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts except for differences for unbilled revenue and provisions.

h Company is not declared as a wilful defaulter by any bank or financial Institution or other lender.

i To the best of our knowledge and belief, Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

j As on Balance Sheet ended 31st March 2023, neither any creation of charge nor any satisfaction thereof, is pending to be registered with ROC beyond the statutory period.

k Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017

^l The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities (“Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether, directly or indirectly lend or invest in other persons/entities identified in any manner whatsoever by or on behalf of the Company (''ultimate beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries except as given in footnote of Note 16 being case of investment/loan to subsidiary

m 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 Funding party (ultimate beneficiaries); or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

n The company does not have such transaction which is not recorded in the book of account that has been surrender or disclosed as income during the year in the tax assessment.

o The Company do not deal in Crypto currency or Virtual Currency.

p Company has complied with the provisons of Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

q During the year, no scheme of arrangements in relation to the Company has been approved by the competent authority in terms of section 230 to 237 of the Companies Act, 2013. Accordingly, aforesaid disclosure are not applicable, since there were no transaction.

51 In the opinion of the management, the value on realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made. Further Debit and Credit balances are subject to confirmations.

52 Previous Year Figures have been regrouped and rearranged wherever necessary in line with Ind AS

53 The Financial Statements were authorised for issue by the directors on 30th May,2023.

a

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Mar 31, 2021

Provisions and Contingent liabilities

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.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. Such liabilities are disclosed by way of notes to the financial statements.

Segment Reporting

The Chief Financial Officer of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108, "Operating Segments". Operating segments are reported in a manner consistent with the internal reporting provided to the CODM. The accountingpolicies adopted for segment reporting are in conformity with the accounting policies adopted for the Company. Revenue and expenses have been identified to segments on the basis oftheir relationship to the operating activities of the segment. Income / Costs which relate to the Company as a whole and are not allocable to segments on a reasonable basis, have been included under Unallocated Income / Costs. Interest income and expense are not allocated to respective segments (except in case of Financial Services segment).

Deferred Revenue and Unbilled Revenue_

Amounts received from customers or billed to customers, in advance of services performed are recorded as deferred revenue under Other Current Liabilities. Unbilled revenue included in Other Financial Assets, represents amounts recognised in respect of services performed in accordance with contract terms, not yet billed to customers as at the year end.

Significant management judgements in applying accounting policies and estimation uncertainty

When preparing the financial statements, management makes a number of judgments, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Impairment of non-financial assets

In assessing impairment, management estimates the recoverable amount of each asset or cash-generating unit based on expected future cash flows and uses an interest rate to discount them. Estimation uncertainty relates to assumptions about future operating results and the determination of a suitable discount rate.

Depreciation and useful lives of property, plant and equipment

Property, plant and equipment are depreciated over the estimated useful lives of the assets, after taking into account their estimated residual value. Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation to be recorded during any reporting period. The useful lives and residual values are based on the Company''s historical experience with similar assets and take into account anticipated technological changes. The depreciation for future periods is adjusted if there are significant changes from previous estimates.

Recoverability of trade receivable

Judgments are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability require the application of judgment to existing facts and circumstances, which can be subject to change. Since the cash outflows can take place many years in the future, the carrying amounts of provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.

Defined benefit obligation (DBO)

Management''s estimate of the DBO is based on a number of critical underlying assumptions such as standard rates of inflation, mortality, discount rate and anticipation of future salary increases. Variation in these assumptions may significantly impact the DBO amount and the annual defined benefit expenses.

_Defined contribution plan_

A) Amount ofRs. 27.42 Lakh (31 March 2020 Rs. 17.15 Lakh) pertaining to employers'' contribution to provident fund, pension fund, labour welfare fund and administration charges is recognized as an expense and included in "Employee benefits " in Note 34.

B) Defined benefit plan:

Gratuity plan:

The Company maintains a gratuity provision where in lump sum benefits linked to the qualifying salary and completed years of service with the Company at the time of separation. Every employee who has completed 5 years of continuous service is entitled to receive gratuity at the time of his retirement or separation from the organization whichever is earlier. However the condition of completion of 5 years of service is not applicable where separation is on account of disability or death of an employee. The gratuity benefit that is payable to any employee, is computed in accordance with the provisions of "The Payment of Gratuity Act, 1972”.

The Gratuity fund

The following table sets forth the status of the gratuity plan of the Company and the amounts recognised in the Balance Sheet and Statement of Profit and Loss:

Risk Analysis:

The above defined benefit plan expose the Company the following risks:

i) Interest rate risk

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined benefit obligation will tend to increase.

ii) Salary inflation risk

Higher than expected increases in salary will increase the defined benefit obligation.

iii) Demographic risk:

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee.

Fair value measurement

Management uses valuation techniques to determine the fair value of financial instruments (where active market quotes are not available) and non-financial assets. This involves developing estimates and assumptions consistent with how market participants would price the instrument. Management bases its assumptions on observable data as far as possible but this is not always available. In that case management uses the best information available. Estimated fair values may vary from the actual prices that would be achieved in an arm''s length transaction at the reporting date.

y) Earnings per share

The Company presents basic and diluted earnings per share data for its equity shares. Basic and diluted earnings per share is calculated by dividing the profit or loss attributable to owners ofthe equity shares of the Holding Company by the weighted average number of equity shares outstanding during the year.

z) Government Grants

Government grants including any non-monetary grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with.

Government grants are recognised in the statement of profit and loss on a systematic basis over the periods in which the related costs, for which the grants are intended to compensate, are recognised as expenses.

Government grants related to property, plant and equipment are presented at fair value and grants are recognised as deferred income.

aa) Exceptional Items

When items of income and expense 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, the nature and amount of such material items are disclosed seperately as exceptional items.

ab)_Events after reporting period_

Adjusting events are events that provide further evidence of conditions that existed at the end of the reporting period. The financial statements are adjusted for such events before authorisation for issue.

Non-adjusting events are events that are indicative of conditions that arose after the end ofthe reporting period. Nonadjusting events after the reporting date are not accounted, but disclosed.

ac) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakhs as per the requirement of Schedule III, unless otherwise stated.

2 (B) Critical Accounting Judgements and Key Sources of Estimation Uncertainty

The preparation of the Company''s Financial Statements requires management to make judgement, estimates and assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in next financial years.

a) Recoverability of Trade Receivables

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. Factors considered include the credit rating ofthe counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

b) Provisions

The timing of recognition and quantification of the liability (including litigations) requires the application of judgement to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances

c) Global Health Pandemic on COVID-19

The outbreak of COVID-19 pandemic across the globe and in India has contributed to a significant decline and volatility in the global and Indian financial markets and slowdown in the economic activities

The extent to which the COVID-19 pandemic will impact the Company''s results will depend on future developments, which are highly uncertain, including, among other things, any new information concerning the severity ofthe COVID-19 pandemic and any action to contain its spread or mitigate its impact whether government-mandated or elected by the Company. Given the uncertainty over the potential macro-economic condition, the impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results and the Company will continue to closely monitor any material changes to future economic conditions.

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 shares rank pari passu with respect to dividend, voting rights and other terms. Each shareholder is entitled to one vote per share. The dividend proposed, if any, by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. The repayment of equity share capital in the event of liquidation and buy back of shares are possible subject to prevalent regulations. In the event of liquidation, normally the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

_( s. Lakh)

41 Segment reporting:_

A. In accordance with Ind AS 108 ''Segment Reporting'' on segment reporting as specified in Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rule, 2014, the Company has identified three business segments viz. Transportation & Logistics, Oil, Lubricants, Spares and Finance & Investment and Power Generation. Power generation is new segment. The above segments have been identified and reported taking into account the differing risks and returns, and the current internal financial reporting systems. For each of the segments, the Chief operating decision maker (CODM) (Chief Financial Officer) reviews internal management reports on at least a quarterly basis. The CODM monitors the operating results separately for the purpose of making decisions about resource allocation and performance assessment.

Segment accounting policies

The accounting principles consistently used in the preparation of the financial statements and consistently applied to record revenue and expenditure in individual segments are as set out in Note 2 to the financial statements. The accounting policies in relation to segment accounting are as under:

(a) Segment assets and liabilities

All segment assets and liabilities have been allocated to the various segments on the basis of specific identification. Segment assets consist principally of property, plant and equipment, capital work in progress, inventories, trade receivables, financial assets, other current assets, other non-current assets and loans. Segment assets do not include unallocated corporate fixed assets, cash and bank balances, advance tax and other assets not specifically identifiable with any segment.

Segment liabilities include all operating liabilities and consist principally of trade payables and accrued liabilities. Segment liabilities do not include borrowings and those related to income taxes.

(b) Segment revenue and expenses

Segment revenue and expenses are directly attributable to the segment and have been allocated to various segments on the basis of specific identification. Segment revenue does not include interest income and other incomes in respect of non-segmental activities. Segment expenses do not include depreciation on unallocated corporate fixed assets, interest expense, tax expense and other expense in respect of non-segmental activities.

Segment revenue, results and capital employed include the respective amounts identifiable to each of the segments. Other unallocable expenditure/assets/liabilities include expenses/assets/liabilities which are not directly identifiable to any business segment.

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations resulting in a financial loss to the Company. Credit risk arises principally from trade receivables, loans & advances, cash & cash equivalents and deposits with banks and financial institutions and customers.

Trade receivables

Customer credit risk is managed according to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an credit rating scorecard and individual credit limits are defined in accordance with this assessment.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

Cash and cash equivalents

The Company held cash and cash equivalents of Rs. 1533.33 Lakh at 31st March,2021 (Rs. 1721.53 Lakh at 31 March 2020) The cash and cash equivalents are held with bank and financial institution with high rating.

Deposits with banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with the Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty.

Credit risk is managed on Company wide basis. For banks/financial institutions, only high rated banks/institutions are accepted.

Loans

The Company has given loans and advances as security deposits. The credit risk is managed by the Company in accordance with the Company''s policy.

(a) Financial assets for which loss allowance is measured using 12 month expected credit losses

The Company has assets where the counter- parties have sufficient capacity to meet the obligations and where the risk of default is very low. Accordingly, loss allowance for impairment has not been recognised.

(b) Financial assets for which loss allowance is measured using life time expected credit losses

The Company has customers with strong capacity to meet the obligations and therefore the risk of default is negligible or nil. Further, management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full, based on historical payment behavior and extensive analysis of customer credit risk. Hence, no impairment loss has been recognised during the reporting periods in respect of trade receivables.

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

The Company has an appropriate liquidity risk management framework for the management of short, medium and long term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate cash reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

The Company’s treasury department is responsible for managing the short term and long term liquidity requirements of the Company. Short term liquidity situation is reviewed daily by Treasury. The Board of directors has established policies to manage liquidity risk and the Company’s treasury department operates in line with such policies. Any breaches of these policies are reported to the Board of Directors. Long term liquidity position is reviewed on a regular basis by the Board of Directors and appropriate decisions are taken according to the situation.

Typically the Company ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 60 days, including the servicing of financial obligations, this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.

3. Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising

The Board of directors is responsible for setting up of policies and procedures to manage market risks of the Company. The regular reviews including diversifications of borrowings to mitigate the market risks are carried out considering the rates of interest and other borrowing terms.

Measurement of fair values_

The different levels of fair value have been defined below:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and traded bonds that have quoted price.

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. The fair value of financial assets and liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer quotes of similar instruments. This level includes derivative MTM assets/liabilities.

Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves

- the fair value of principal swaps is determined using forward exchange rates at the balance sheet date

- the fair value of the financial instruments is determined using discounted cash flow analysis.

Risk management framework

The Company’s activities makes it susceptible to various risks. The Company has taken adequate measures to address such concerns by developing adequate systems and practices. The Company’s overall risk management program focuses on the unpredictability of markets and seeks to manage the impact of these risks on the Company’s financial performance.

The Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. In order to institutionalize the risk management in the Company, an elaborate Enterprise wide Risk Management (ERM) framework has been developed. As a part of the implementation of ERM framework, an Enterprise Risk Management Committee (ERMC) with various Executive Directors as its members has been constituted with an objective to develop and monitor the Company’s risk management policies and strengthen the risk management framework. Enterprise risk management committee after deliberations has identified enterprise wide risk and various action plans for short term as well as long term have been formulated to mitigate these risks.

The Committee is also responsible for reviewing and updating the risk profile, monitoring the effectiveness of the risk management framework and reviewing at least annually the implementation of the risk management policy and framework. The Committee reports regularly to the Board of Directors on its activities.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has policies covering specific areas, such as interest rate risk, credit risk, liquidity risk, and the use of nonderivative financial instruments. Compliance with policies and exposure limits is reviewed on a continuous basis.

The Company’s objectives when managing capital are to:

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

- maintain an appropriate capital structure of debt and equity.

The Board of Directors has the primary responsibility to maintain a strong capital base and reduce the cost of capital through prudent management of deployed funds and leveraging opportunities in domestic and international financial markets so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital, which the Company defines as result from operating activities divided by total shareholders’ equity. The Board of Directors also monitors the level of dividends to equity shareholders.

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

The Company monitors capital, using a medium term view of three to five years, on the basis of a number of financial ratios generally used by industry and by the rating agencies.

The Company monitors capital using gearing ratio which is net debt divided by total equity. Net debt comprises of long term and short term borrowings. Equity includes equity share capital and reserves that are managed as capital. The gearing ratio at the end of the reporting periods was as follows:

49 In the opinion of the management, the value on realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made. Further Debit and Credit balances are subject to confirmations.

50 Previous Year Figures have been regrouped and rearranged wherever necessary in line with Ind AS

51 The Financial Statements were authorised for issue by the directors on 31st August,2021

---

Mar 31, 2018

1. Segment reporting

A. In accordance with Ind AS 108 ''Segment Reporting'' on segment reporting as specified in Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rule, 2014, the Company has identified three business segments viz. Transportation & Logistics, Oil & Lubricants and Finance & Investment The above segments have been identified and reported taking into account the differing risks and returns, and the current internal financial reporting systems. For uach of the segments, the Chief operating decision maker (CODM) (Chief Financial Officer) reviews internal management reports on at least a quarterly basis. The CODM monitors the operating results separately for the purpose of making decisions about resource allocation and performance assessment.

Segment accounting policies

The accounting principles consistently used in the preparation of the Financial statements and consistently applied to record revenue and expenditure in individual segments are as set out in Note 2 to the Financial statements. The accounting policies in relation to segment accounting are as under:

(a) Segment assets and liabilities

All segment assets and liabilities have been allocated to the various segments on the basis of specific identification. Segment assets consist principally of property, plant and equipment, capital work in progress, inventories, trade receivables, financial assets, other current assets, other non-current assets and loans. Segment assets do not include unallocated corporate fixed assets, cash and bank balances, advance tax and other assets not specifically identifiable with any segment.

Segment liabilities include all operating liabilities and consist principally of trade payables and accrued liabilities. Segment liabilities do not include borrowings and those related to income taxes.

(b) Segment revenue and expenses

Segment revenue and expenses are directly attributable to the segment and have been allocated to various segments on the basis of specific identification. Segment revenue does not include interest income and other incomes ^:n respect of on-segmental activities. Segment expenses do not include depreciation on unallocated corporate fixed assets, Incrusts expense, tax expense and other expense in respect of non-segmental activities.

Segment revenue, results and capital employed include the respective amounts identifiable to each of nets ! unallowable expenditure/assets/liabilities include expenses/assets/liabilities which are not directly identifiable to any business segment

2.Financ(al instruments - Fair values and risk management__

3. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations resulting in a financial loss to the Company, Credit risk arista’s principally iron trade receivables, loans & advances, cash & cash equivalents and deposits with banks and financial institutions and customers.

Trade receivables

Customer credit risk is managed according to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an credit rating scorecard and individual credit limits are defined in accordance with this assessment,

An impairment analysis is performed at each reporting date on an individual basis for major clients. !n addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

Cash and cash equivalents

The Company held cash and cash equivalents ofRs. Lakh 1106.88 at 31 March 2018, (31 March 2017 Rs. 1884.26), 1 April 2016 Rs. Lakh 1007.42). The cash and cash equivalents are held with bank and financial institution with high rating,

Deposits with banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department iij accordance with the Company''s policy. Investments of surplus funds are made only with approved counterparties within credit limits assigned to each counterparty.

Credit risk is managed on Company wide basis. For banks/financial institutions, only high rated banks/institution* are accepted.

Loans

The Company has given loans and advances as security deposits. The credit risk is managed by the Company ii with the Company''s policy.

(ii) Provision for carpeted credit losses

(a) Financial assets for which loss allowance is measured using 12 month expected credit losses

The Company has assets where the counter'' parties have sufficient capacity to meet the obligations and where the risk of default is very low. Accordingly, loss allowance for impairment has not been recognised.

(b) Financial assets for which loss allowance Is measured using life time expected credit losses

The Company has customers with strong capacity to meet the obligations and therefore the risk of default is negligible or nil. Further, management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full, based on historical payment behaviour and extensive analysis of customer credit risk. Hence, no impairment loss has been recognised during the reporting periods in respect of trade receivables.

(iii) Ageing analysis of trade receivables

The ageing analysis of the trade receivables is as below;

(iv) Reconciliation of impairment loss provisions

There is no impairment loss provisions recognised during the year.

4. Liquidity risk

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

The Company has an appropriate liquidity risk management framework for the management of short, medium and Long term funding and liquidity management requirements, The Company manages liquidity risk by maintaining adequate cash reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

The Company’s treasury department is responsible for managing the short term and long term liquidity requirements of the Company. Short term liquidity situation is reviewed daily by Treasury. The Board of directors has established policies to manage liquidity risk and the Company''s treasury department operates in line with such policies. Any breaches of these policies are reported to the Board of Directors. Long term liquidity position is reviewed on a regular basis by the Board of Directors and appropriate decisions are taken according to the situation.

Typically the Company ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 60 days, including the servicing of financial obligations, this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.

5. Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates will affect the Company''s income or the value of its holdings of .financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable while optimising the return,

The Board of directors is responsible for setting up of policies and procedures to manage market risks of the Company. The regular reviews including diversifications of borrowings to mitigate the market risks are carried out considering the rates of interest and other borrowing terms.

Currency risk

The Company has following financial assets/liabilities in foreign currency as at 31 March 2018, 31 March 2017 & 01 April 2016

Interest rate risk

The Company is exposed to interest rate risk arising mainly from long term borrowings with floating interest rates. The Company is exposed to interest rate risk because the cash flows associated with floating rate borrowings will fluctuate with changes in interest rates.

At the reporting date the interest rate profile of the Company''s interest-bearing financial instruments s as follows:

The Company''s fixed rate instruments are carried at amortised cost. They are therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

Cash flow sensitivity analysis for variable-rate instruments

A change of 50 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant The analysis is performed on the same basis for the previous year.

Measurement of fair values

The different levels of fair value have been defined below;

Level 1: Level 1 hierarchy includes financial instruments measured using v-.rod prices.

Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of interest rate swaps is calculated as the present value of :he estimated future cash Flows based on

- the fair value of principal swaps is determined using forward exchange rates at the balance sheet date

- the fair value of the financial instruments is determined using discounted cash flow analysis.

Non-current financial assets consists of fixed deposits whose the carrying are equal fair liabilities that are measured at fair value, the amounts are fair values.

6. FlnancUt) Risk Management__^______

The Company''s principal financial liabilities comprise loans and borrowings in domestic currency, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations, The Company''s principal financial assets include loans, trade & other receivables, and cash and short-term deposits that derivu direcil¹/ from its operations.

The Company is exposed to the following risks from its use of financial instruments:

- Credit risk

- Liquidity risk

- Market risk

Risk management framework

The Company''s activities makes it susceptible to various risks. The Company has taken adequate measures to address such concerns by developing adequate systems and practices. The Company’s i wall risk the unpredictability of markets and seeks to manage the impact of these risks on the Company''s financial performance.

The Board of Directors has overall responsibility for the establishment and oversight of the Company''s risk management framework. In order to institutionalize the risk management in the Company, an elaborate Enterprise Risk Management (ERM) framework has been developed. As a part of the implementation of ERM framework, an Enterprise Risk Management Committee (ERMC) with various Executive Directors as its members has been with an objective to develop and monitor the Company''s risk management policies and strengthen the risk management framework. Enterprise risk management committee after deliberations has Identified enterprise wide risk and various action plans for short term as well as long-term have been formulated 10 mitigate these risks.

The Committee is also responsible for reviewing and updating the risk profile, the effectiveness risk management framework and reviewing at least annually the implementation of the risk management policy and framework. The Committee reports regularly to the Board of Directors on Its activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to scx appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, lit rough its training and management standards and procedures, aims to develop a disciplined and constructive c inirol environment in which all employees understand their roles and obligations.

The Company has policies covering specific areas, such as interest rate risk, credit risk, liquidity risk and the use no derivative financial instruments. Compliance with policies and exposure limits is reviewed on a continuous basis.

7. Capital Management _

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

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

- maintain an appropriate capital structure of debt and equity.

The Board of Directors has the primary responsibility to maintain a strong capital base and reduce the cost of capital through prudent management of deployed funds and leveraging opportunities in domestic and international -''nancial markets so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital, which the Company defines as result from operating activities divided by total shareholders’ equity. The Board of Directors also monitors the level of dividends to equity shareholders.

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

The Company monitors capital, using a medium term view of three to five years, on the basis of a number of financial ratios generally used by industry and by the rating agencies.

The Company monitors capital using gearing ratio which is net debt divided by total equity. Net debt comprises of long term and short-term borrowings. Equity includes equity share capital and reserves that are managed as capital. Tne gearing ratio at the end of the reporting periods was as follows:

8. Transition to Ind AS:____________

The Company has prepared its first Financial Statements in accordance with Ind AS for the year ended 31 March 2018. For periods up to and including the year ended 31 March 2017, the Company prepared its financial statements in accordance with Indian GAAP, including accounting standards notified under the Companies (Accounting Standards] Rules, 2006 (as amended). The effective date for Company''s Ind AS Opening Balance Sheet is 1 April 2016 (the date of transition to Ind AS],

The accounting policies set out in Note 2 have been applied in preparing the financial statements for the year ended 31 March 2018, the comparative information presented in these financial statements for the year ended 31 March 2017 and in the preparation of an opening Ind AS Balance Sheet at 1 April 2016 (the Company''s date of transition]. According to Ind AS 101, the first Ind AS Financial Statements must use recognition and measurement Principe-s that are based on standards and interpretations that are effective at 31 March 2018, the date of first-time preparation of Financial Statements according to Ind AS, These accounting principles and measurement principles must be applied retrospectively to the date of transition to Ind AS and for all periods presented within the first Ind AS Financial Statements.

Any resul ting differences between carrying amounts of assets and liabilities according to Ind AS 101 as of 1 April 2016 compared with those presented in the Indian GAAP Balance Sheet as of 1 April 2016, were recognized in equity under retained earnings within the Ind AS Balance Sheet

An explanation of how the transition from previous GAAP to Ind AS has affected the Company''s financial petition, financial! performance and cash flows is set out in the following tables and notes.

Exemption and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

Ind AS optional exemptions

i) Property, plant & equipment

Ind AS 101 permits a first-time adopter to elect to continue with the carrying valise for all ¦ f ,-s property, plant in]''.¹ equipment as recognised in the financial statements as at the of transition to Ind AS, measured as per the previous GAAP. This exemption can also be used for intangible .. Intangible Assets Accordingly the Company has elected to measure all of its assets at their previous GAAP carrying value.

ii) Arrangements containing a lease

Appendix C, Ind AS 17 requires an entity to assess whether an arrangement contains a lease at its However, Ind AS 101 provides an option to make this assessment on the basis of facts and circumstances existing at the date af transition to Ind AS (rather than all the inception of the arrangement),

The Company has elected to apply this exemption for such contracts/arrangements.

iii) Designation of previously recognised financial instruments

Ind AS 101 allows an entity to designate investments in equity instruments at FVTOCl basis of the and circumstances at the date of transition to Ind As Company has elected to apply this exemption for investment in equity instruments

ind AS mandatory exception_____

i) Estimates

An entity’s estimates in accordance with Ind ASs at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Jnd AS estimates as at 1 April 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP.

The Company made estimates for the following items in accordance with Ind AS at the date of transition as these were not required under previous GAAP:

a) Fair valuation of financial instruments carried at FVTPL and/or FVTOCI.

b) Impairment of financial assets based on expected credit loss model

c) Determination of the discounted value for financial instruments carried at amortised cost

(i) Borrowings

Under Indian GAAP, the Company has followed the policy of charging the transaction costs to the income statement or capitalized to Property, plant and equipment as and when incurred. Under Ind AS, transaction costs are amortized as an adjustment of interest expense over the term of the related loan using effective interest rate method, The Company has raised Term Loans on which it has incurred transaction costs. The impact of the transaction is detailed below:

(ii) Deferred tax liabilities [net) :

IGAAP requires deferred taxes recognition using income statement approach, which focuses on differences between accounting profits and taxable profits for the year. Under Ind AS 12 the Company is required to account the deferred taxes using balance sheet approach which focuses on difference between carrying amount of .in asset or liability in the balance sheet and its tax base. The application of Ind AS 12 has resulted i n ci-''''"erred tax on new temporary differences which were not required under IGAAP, Further the Company l-as deferred taxes on temporary differences arising from transitional adjustments in retained earnings frefer note 21 The minimum alternate tax (MAT) has been adjusted with deferred tax liabilities while in Indian GAAP the same has been classified in loans and advances.

(iii) Other Comprehensive Income

Under Indian GAAP, the Company has not presented other comprehensive income (OClj separately. Etems that have been reclassified from statement of profit and loss to other comprehensive income includes benefit plans. Hence, Indian GAAP profit or loss is reconciled to total comprehensive income as per AS

9. Corporate Social responsibility (CSR)____

a) CSR Amount required to be spent as per section 135 of companies act, 2013 read with schedule VII thereof by the company during the year is Rs 178.60.11 Lakh previous year 131,72 lakh).

b) Expenditure related to corporate social responsibility is Rs 272.11 Lakh (previous year 33.62 Lakh).

10.In the opinion of the management, the value on realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made. Further Debit and Credit balances are subject to confirmations.

11.Previous Year Figures have been regrouped and rearranged wherever necessary in line with Ind AS

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Mar 31, 2014

1. (a) Long Term Borrowings

Note: *

Term Loan from Axis Bank is taken during the financial year 2011-12 and carries interest @ 9.96% p.a. The loan is repayable in 36 monthly installments of Rs. 1.44 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Vehicle against which the loan was taken.

Note: **

Term Loan facility of Rs. 55 Crores was taken during the financial year 2011-12 from ICICI Bank and carries interest @ 13.75% p.a. The principal component of loan is repayable in 14 quarterly installments of 7.70 % of facility amount starting from the 8th quarter from the date of loan. and interest amount, till the period of repayment of loan installment, is payable on monthly basis. The loan is secured against the personal property of Mrs. Saroj Sindhu & Maj. Satyapal Sindhu, Mr. Vir Sen Sindhu, Mr. Abhimanyu Sindhu, Mr. Rudra Sen Sindhu, Mrs. Ekta Sindhu , Mrs. Rachna Sindhu, Dev Suman Sindhu , Vrit Pal Sindhu and Property of M/s Indus Infra Development Pvt Ltd; Term Loan Facility of Rs. 30 Crores was taken during the financial year 2012-13 and carries interest @ 13.75% p.a. The Principal component is repayable in 16 equal quarterly instalments starting from 5th quarter. Till the period of Loan, Interest is payable on monthly basis. The Loan is Secured against the property of M/s Sindhu Realtors Ltd.

Note: ***

Term Loan from Bajaj Finance Limited , details of which are as under:-

Term loan of Rs. 1.45 crores was taken during the financial year 2011-12 bearing interest @ 11.75% p.a. The loan is repayable in 35 monthly installments of Rs. 4.93 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Equipments (1 liebherr Loader) against which the loan was taken.

Term loan of Rs. 1.30 crores was taken during the financial year 2011-12 bearing interest @ 11.49% p.a. The loan is repayable in 35 monthly installments of Rs. 4.38 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Vehicles (5 tippers) against which the loan was taken.

Term loan of Rs. 4.54 crores was taken during the financial year 2011-12 bearing interest @ 14 % p.a. The loan is repayable in 35 monthly installments of Rs. 15.88 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Vehicles (49 trucks) against which the loan was taken.

Note: ****

Term Loan from SREI Equipment Finance Pvt Ltd was taken during the financial year 2011-12 and carries interest @ 13.18% p.a. The loan is repayable in 47 monthly installments of Rs. 27.35 lakhs each including interest from the date of loan. The loan is secured by hypothecation of 66 Vehicle & Equipments against which the loan was taken.

Note: *****

Term Loan from Indiabulls Financial Services Limited is taken during the financial year 2012-13, details of which are as under:-

Term loan of Rs. 1.291 lakhs is taken bearing interest @ 11% p.a. The loan is repayable in 35 monthly installments of Rs. 4.32 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Vehicles against which the loan was taken.

Note: ******

Term Loan from HDFC Bank Limited is taken during the financial year 2013-14, details of which are as under:-

Term loan of Rs. 150 lakhs is taken bearing interest @ 10.90% p.a. The loan is repayable in 35 monthly installments of Rs. 5.02 lakhs each including interest from the date of loan. The loan is secured by hypothecation of Equipment against which the loan was taken.

Note: *******

Secured and Redeemble Non Convertiable Debentures were issued. The debentures are secured against 23.9% equity capital of company and 49.58 Acre of Land Situated at Tifra, Bilaspur of company. The Debentures carry 10% Fixed Coupon payable Quarterly and 11% Rear End Coupon. The debenture''s maturity date is 31/10/2014.

Notes: #

CC limit of Rs. 5 crores was taken from ICICI Bank during the financial year 2011-12 and carries interest @ 13.75% p.a. The facility is secured against the entire stocks of raw material , stores etc and book- debts receivables etc and Second pari passu charge on property of M/s Sindhu Realtors Ltd.

2. Loans & Advances

(a) long-term loans & Advances

Advances recoverable in cash or in kind for the value to be received (unsecured considered good unless otherwise stated).

3. Contingent Liabilities

FOR THE YEAR ENDED FOR THE YEAR ENDED ON 31ST MARCH 2014 ON 31ST MARCH 2013

The Company has given corporate guarantee in respect of the loan taken by the subsidiaries of the company

* Shyam Indus Power Solutions Private Limited 1,045,000,000 850,000,000

* Hari Bhoomi communications Pvt Ltd 30,000,000 30,000,000

The company has given corporate guarantee in respect of the loan taken by the other company

* Indus Portfolio Pvt Ltd 200,000,000 200,000,000

* S3H Constructions Pvt Ltd 51,000,000 -

The following assessment orders were received from respective assessing officer against which appeal ha been made with competent authority

Authority Assessment Year

Adl.CIT(8) 2009-10 2,230,750 2,230,750

ACIT(12)(1) 2009-10 - 242,669

ACIT(8)(1) 2008-09 9,916,074 9,916,074

Adl.CIT(8) 2008-09 8,817,707 8,817,707

ACIT(12)(1) 2006-07 8,371,075 8,371,075

ACIT(8)(1) 2005-06 - 191,531

ACIT(8)(1) 2004-05 - 1,891,634

1,355,335,606 1,111,661,440

4. Related party Disclosures:

1) Enterprises where control Exist:

Subsidiaries:-

1. Shyam Indus Power Solutions Private Limited

2. Hari Bhoomi Communications Private Limited

3. Indus Automobile Private Limited

4. Indus Automotives Pvt Ltd

5. Param Mitra Resources Pte Limited

Subsidiaries of Shyam Indus Power Solutions Private Limited which itself is the subsidiary of the Company.( As Per Section 4(1) (c) of the company''s Act, 1956.

1. Shyam Indus Solar Power Private Limited

2. Indus Urja Private Limited

3. Shyam Indus Energy Private Limited

4. Shyam Indus Hydel Power Private Limited

5. Flair Electric Projects Private Limited

6. Vaishnawi Energy Distribution Private Limited

7. SIPS BIO Power Private Limited

8. SIPS Utilities Private Limited

9. SIPS Power Distribution Private Limited

Subsidiaries of SIPS Utilities Private Ltd which itself is the subsidiary of the Company.( As Per Section 4(1) (c) of the company''s Act, 1956.

1. Sea Side Utilities Pvt Ltd

2. River Side Utilities Pvt Ltd

Other Related Parties

1. Paramitra Holdings Private Limited

2. Sindhu Farms Private Limited

3. Sindhu Realtors Limited

4. S3H Constructions Private Limited

5. ACB India Limited

6. B and S Realtors Private Limited

7. Sainik Mining and Allied Services Private Limited

8. Spectrum Coal and Power Limited

9. Indus Infra Built Private Limited

10. Sudha Bio Power Pvt Ltd

11. ACB India Power Ltd

12. Indus Automobiles

13. V. V. Transport

14. M. S. & Sons

15. Indus Educations & Research Institute

16. Param Mitter industrial Training Centre

17. Param Mitra Manav Nirman Sansthan

18. Mitter Sen sindhu (HUF)

19. Parameshwari Devi

20. Rudra Sen Sindhu

21. Vrit Pal Sindhu

22. Vir Sen Sindhu

23. Dev Suman Sindhu

24. Anika Sindhu

25. Saroj Sindhu

26. Samriti Sindhu

27. Usha sindhu

28. Saurabh Sindhu

29. Shashi Sindhu

30. Surbhi Sindhu

31. Sumegha Sindhu

32. Shweta Sindhu

33. Somvir Sindhu

34. Maruti Clean Coal & Power Ltd

35. Garuda resorts pvt ltd

36. Indus infra development pvt ltd

37. Indus Sor Urja Pvt ltd

38. Mahavir Multitrade Pvt Ltd

39. Ch. SIS Ram Polytechnic kinana

40. Adarsh infraventure Private limited

41. Sarvesh sindhu

42. Mitter sen agro farms pvt ltd

43. Param mitter associates pvt ltd

44. Paramitra Investments Pvt Ltd

45. Abhimanyu sindhu

46. Abhimanyu sindhu-huf

47. Rudra sen sindhu huf

48. Dev suman sindhu huf

49. Ekta sindhu

50. Satyapal sindhu

51. Rachna sindhu

52. Satyapal sindhu huf

53. Shahista sindhu

54. Sumati sindhu

55. Vir sen sindhu huf

56. Vritpal sindhu huf

57. Mahanadi Coal Transport

58. S.J. Finance & Consultants Pvt Ltd

59. Pragati Vanijaya Ltd

60. Chhattisgarch Land & Building Developers Pvt ltd

61. Kartikay Resources & Power Gen Pvt Ltd

62. Indus Portfolio Pvt Ltd

63. Indus Best Mega Food Park Pvt Ltd

64. Sindhu Education Foundation

65. TRN Energy Pvt Ltd

66. NU Edge Infrasolutions LLP

67. Amberi Hotel & Motels Pvt Ltd

68. Aryan Ispat & Power Pvt Ltd

69. Four Corners Developers Pvt Ltd

70. Kartikay Exploration & Mining Services Pvt Ltd

Other Entities under control of company Nil

i) Joint Venture - Nil

ii) Key Management Personnel

Sh. Rudra Sen Sindhu

Sh. Vir Sen Sindhu

Sh. Satyapal Sindhu

Sh. Vrit Pal Sindhu

Sh. Dev Suman Sindhu

---

Mar 31, 2013

AS AT 31st Contingent Liabilities AS AT 31st MARCH 2013 MARCH 2012

The Company has given corporate guarantee in respect of the loan taken by the subsidiaries of the company

- Shyam Indus Power Solutions Private Limited 850,000,000 850,000,000

- Hari Bhoomi communications Pvt Ltd 30,000,000 -

The company has given corporate guarantee in respect of the loan taken by the other company

- Indus Portfolio Pvt Ltd 200,000,000 -



NOTES -1 CORPORATE INFORMATION

SINDHU TRADE LINKS LIMITED Is engaged in the Business of Transportation, Media, Finance, Trading of Oil & Diesel and having its place of business in Delhi and Chattisgarh

2. Related party Disclosures –

1) Enterprises where control Exist:

Subsidiaries:- -

1. Shyam Indus Power Solutions Private Limited

2. Hari Bhoomi Communications Private Limited

3. Indus Automobile Private Limited

4. Indus Automotives Pvt Ltd

5. Param Mitra Resources Pte Limited

Subsidiaries of Shyam Indus Power Solutions Private Limited which itself is the subsidiary of the Company.( As Per Section 4(1) (c) of the company''s Act, 1956

1. Shyam Indus Solar Power Private Limited

2. Indus Urja Private Limited

3. Shyam Indus Energy Private Limited

4. Shyam Indus Hydel Power Private Limited

5. Flair Electric Projects Private Limited

6. Vaishnawi Energy Distribution Private Limited

7. SIPS BIO Power Private Limited

8. SIPS Utilities Private Limited

9. SIPS Power Distribution Private Limited

Subsidiaries of SIPS Utilities Private Ltd which itself is the subsidiary of the Company.( As Per Section 4(1) (c) of the company''s Act, 1956

1. Sea Side Utilities Pvt Ltd

2. River Side Utilities Pvt Ltd

Other Related Parties:- 1 Paramitra Holdings Private Limited

2 Sindhu Farms Private Limited

3 Sindhu Realtors Private Limited

4 S3H Constructions Private Limited

5 ACB India Limited

6 B and S Realtors Private Limited

7 Sainik Mining and Allied Services Private Limited

8 Spectrum Coal and Power Limited

9 Indus Infra Built Private Limited

10 Sudha Bio Power Pvt Ltd

11 C. K. Automobiles and Traders

12 Indus Automobiles (Firm)

13 V. V. Transport

14 M. S. & Sons

15 Indus Educations & Research Institute

16 Param Mitter industrial Training Centre

17 Param Mitra Manav Nirman Sansthan

18 Sh. Mitter Sen sindhu (HUF)

19 Parameshwari Devi

20 Rudra Sen Sindhu

21 Vrit Pal Sindhu

22 Vir Sen Sindhu

23 Dev Suman Sindhu

24 Anika Sindhu

25 Saroj Sindhu

26 Samriti Sindhu

27 Usha sindhu

28 Saurabh Sindhu

29 Shashi Sindhu

30 Surbhi Sindhu

31 Sumegha Sindhu

32 Shweta Sindhu

33 Somvir Sindh

34 Satvik Sindhu

35 Garuda resorts pvt ltd

36 Indus infra development pvt ltd

37 Indus Sor Urja Pvt ltd

38 Mahavir Multitrade Pvt Ltd

39 Ch. SIS Ram Polytechnic kinana

40 Adarsh infraventure Private limited

41 Sarvesh sindhu

42 Mitter sen agro farms pvt ltd

43 Param mitter associats pvt ltd

44 Lokseva textrade pvt ltd

45 Abhimanyu sindhu

46 Abhimanyu sindhu-huf

47 Rudra sen sindhu huf

48 Dev suman sindhu huf

49 Ekta sindhu

50 Satyapal sindhu

51 Rachna sindhu

52 Satyapal sindhu huf

53 Shahista sindhu

54 Sumati sindhu

55 Vir sen sindhu huf

56 Vritpal sindhu huf

57 Indus eduinfrastructure pvt ltd

58 Indus edumanagement services pvt ltd

59 Mahanadi Coal Transport

60 S.J. Finance & Consultants Pvt Ltd

61 Pragati Vanijaya Ltd

62 Chhattisgarch Land & Building Developers Pvt ltd

63 Kartikay Resources & Power Gen Pvt Ltd

64 Mahavir Benefications Pvt Ltd

65 Indus Best Mega Food Park Pvt Ltd

66 Sindhu Education Foundation

Other Entities under control of company Nil

ii) Joint Venture - Nil

iii) Key Management Personnel

Sh. Rudra Sen Sindhu

Sh. Vir Sen Sindhu

Sh. Satyapal Sindhu

Sh. Vrit Pal Sindhu

Sh. Dev Suman Sindhu

---

Mar 31, 2010

1) Claims against the company not acknowledge as debts - NIL (Previous year Rs.-NIL)

2) Estimated amount of contracts remaining to be executed on capital Account not provided for - NIL (Previous year Rs.-NIL)

3) In the opinion of Board. Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business The provision for depreciation and all other known liabilities is adequate and not in excess of the amount necessary.

4) Previous year figures have been regrouped/recast wherever necessary to make the same comparable with those of the current year

5) None of the employees of the company was in receipt of remuneration exceeding Rs. 2.00.000/- per month where employed for part of the year or Rs. 24.00.000/- p.a. where employed throughout the year.

6) In compliance of Sec. 45 IC of the Reserve Bank of India Act, 1934, the company has transferred a sum of Rs 14.02,513 to Special reserve Fund. The reserve fund so created is available for utilisation for specified purposes as may be prescribed by the Reserve Bank from time to time.

7) Related party Disclosures -

1) Related party with whom the company had transaction, etc.

i) Associates

1) Shyam Indus Power Solutions pvt Ltd

2) Indus Public School- Jind

3) Sindhu Education Foundation A) Delhi Public School- Durg

5) Delhi Public school- Bilaspur

6) Sindhu trade Link Ltd

7) Sahib Automobiles

8) B &S Realtors Pvt. Ltd

9) M S & Sons

10 Chhattisgarh Coal Carriers

11) V.V Transport

12) Ex-Ser Abhimanyu Coal Carriers Pvt Ltd.

13) Han Bhoomi Dainik

14) Han Bhoomi communication Pvt Ltd

10) Schedule in terms of paragraph 13 of Non-Banking Financial(Non- Deposit Accepting or Holding) Companies Prudential Norms (reserve Bank) Directors, 2007

Notes:

1.As defined in Paragraph 2(1) (xii) of the Non -Banking Financial Companies Acceptance of Public Deposits (Reserve Bank)Directors, 1998.

2.Provisions norms shall be applicable as prescribed in the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions,2007.

3.All Accounting Standards and Guidance notes issued by ICAI are applicable including for valuation of investments and other assets acquired in satisfaction of debt.However, market value in espect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column(4) above.