Notes to Accounts of Stellant Securities (India) Ltd.

Mar 31, 2025

3.8) Provisions, Contingent liability and Contingent Assets:

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

Contingent liabilities are not recognised but are disclosed in the financial statements. Contingent assets are
neither recognised nor disclosed in the financial statements.

3.9) Earnings Per Share

Basic earnings per share:

Basic earnings per share is calculated by dividing:

- the profit attributable to owners of the company

- by the weighted average number of equity shares outstanding during the financial year.

Note No.

17) Contingent Liability :

There are no contingent liabilities.

18) (a) In the opinion of the management, the deposits and other financial assets are recoverable at the value stated
in the financials.

(b) Balances of other current liabilities are subject to confirmations and reconciliations, if any. The difference as
may be noticed on reconciliations will be duly accounted for on completion thereof. In the opinion of the
management, the ultimate difference, if any, will not be material.

19) The Company is operating in a single segment i.e. consultancy services hence no information could be furnished
under segment wise information to be report as per Ind (AS) 108 issued by The Institute of Chartered Accountants
of India.

20) Related Party disclosure as per Ind AS 24:

Related parties are classified as under:

(i) . Subsidiary Company

Stellant Stock Broking Pvt. Ltd. - till 05/10/2023

(ii) Key Management Personnel

Mangala Subhash Rathod - Wholetime Director
Bhavesh V. Bafna - Director
Kalpesh Fifadara - CFO
Sunil Bhimaram Patel - CS

(iii) Relative of Director

Saajan Rathod
Parina Rathod
Mayank rathod

24) As per the scheme of Capital reduction as approved by the Hon''ble High Court of Bombay, share capital of the
Company stand reduced from Rs. 370.24 lacs divided into 37,02,401 equity shares of Rs. 10/- each to Rs. 74.05
lacs divided into 37,02,401 equity shares of Rs. 2/- each and therefater consolidating each 5 equity shares of Rs. 2/-
each into equity shares of Rs. 10/- each to make up 7,40,480 equity shares of Rs. 10/- each. In respect of shares
held in physical form, the company has issued new certificates without surrender of the old certificates of the
Company and accordingly old certificates shall stand cancelled. Vide the notice no. 20170724-10 dated 24th July,
2017 issued by BSE Ltd., the equity shares of the company were listed and admitted to dealings on the exchange in
the list of "XT" group of securities with effect from Thursday, July 27, 2017.

Note - 25 - Financial Risk Management
Liquidity Risk

Liquidity risk is defined as the risk that the group will not be able to settle or meet its obligations on time,
or at a reasonable price. The group''s treasury deparment is responsible for liquidity, funding as well as
settlement management. In addition, processes and policies related such risk are overseen by senior
management. Management monitors the group''s net liquidity position through rolling forecasts on the
basis of expected cash flows.

Financial Instrument by catogory and hierarchy

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values:

The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

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

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly.

Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

i Details of benami property held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

ii Borrowing secured against current assets

The Company has no borrowings from banks or financial institutions on the basis of security of current assets.

iii Wilful defaulter & end use of borrowed funds

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority. The Company has taken short term borrowings from banks (as and when required) to fund its day to day business
activities.

iv Relationship with struck off companies

The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

v Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

vi Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year.

vii Utilisation of borrowed funds and share premium

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

^a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

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

^a. Funding Party (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries

viii Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the
I ncome T ax Act, 1961, that has not been recorded in the books of account.

ix Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

x Valuation of PP&E and intangible asset

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both
during the current or previous year.

29)

Balances of previous year have been re-grouped and re-arranged wherever necessary.

As Per Our Report Of Even Date Attached

For R.K.Khandelwal & Co. For & on Behalf of the Board of Directors of

Chartered Accountants Stellant Securities (India) Limited

Firm Registration no.105054W

Manish Kumar Garg Bhavesh Bafna Mangala Rathod Kalpesh Fifadara

Partner Director Wholetime Director CFO

Membership No.117966 DIN No. : 02402307 DIN No : 02170580

Place: Mumbai
| Date: 16th May, 2025

Sunil Bhimaram Patel
Company Secretary

Place: Mumbai
Date: 16th May, 2025

---

Mar 31, 2024

3.8) Provisions, Contingent liability and Contingent Assets:

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

Contingent liabilities are not recognised but are disclosed in the financial statements. Contingent assets are
neither recognised nor disclosed in the financial statements.

3.9) Earnings Per Share

Basic earnings per share:

Basic earnings per share is calculated by dividing:

- the profit attributable to owners of the company

- by the weighted average number of equity shares outstanding during the financial year.

Note No.

18) Contingent Liability :

There are no contingent liabilities.

19) (a) In the opinion of the management, the deposits and other financial assets are recoverable at the value stated
in the financials.

(b) Balances of other current liabilities are subject to confirmations and reconciliations, if any. The difference as
may be noticed on reconciliations will be duly accounted for on completion thereof. In the opinion of the
management, the ultimate difference, if any, will not be material.

20) The Company is operating in a single segment i.e. consultancy services hence no information could be furnished
under segment wise information to be report as per Ind (AS) 108 issued by The Institute of Chartered Accountants
of India.

21) Related Party disclosure as per Ind AS 24:

Related parties are classified as under:

(i) . Subsidiary Company

Stellant Stock Broking Pvt. Ltd. - till 05/10/2023

(ii) Key Management Personnel

Mangala Subhash Rathod - Wholetime Director
Bhavesh V. Bafna - Director
Kalpesh Fifadara - CFO
Sunil Bhimaram Patel - CS

(iii) Relative of Director

Saajan Rathod
Parina Rathod
Mayank rathod

25) As per the scheme of Capital reduction as approved by the Hon''ble High Court of Bombay, share capital of the
Company stand reduced from Rs. 370.24 lacs divided into 37,02,401 equity shares of Rs. 10/- each to Rs. 74.05
lacs divided into 37,02,401 equity shares of Rs. 2/- each and therefater consolidating each 5 equity shares of Rs. 2/-
each into equity shares of Rs. 10/- each to make up 7,40,480 equity shares of Rs. 10/- each. In respect of shares
held in physical form, the company has issued new certificates without surrender of the old certificates of the
Company and accordingly old certificates shall stand cancelled. Vide the notice no. 20170724-10 dated 24th July,
2017 issued by BSE Ltd., the equity shares of the company were listed and admitted to dealings on the exchange in
the list of "XT" group of securities with effect from Thursday, July 27, 2017.

Note - 26 - Financial Risk Management
Liquidity Risk

Liquidity risk is defined as the risk that the group will not be able to settle or meet its obligations on time,
or at a reasonable price. The group''s treasury deparment is responsible for liquidity, funding as well as
settlement management. In addition, processes and policies related such risk are overseen by senior
management. Management monitors the group''s net liquidity position through rolling forecasts on the
basis of expected cash flows.

Note 29 - Additional regulatory information required by Schedule III :

i Details of benami property held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

ii Borrowing secured against current assets

The Company has no borrowings from banks or financial institutions on the basis of security of current assets.

iii Wilful defaulter & end use of borrowed funds

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority. The Company has taken short term borrowings from banks (as and when required) to fund its day to day business
activities.

iv Relationship with struck off companies

The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

v Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

vi Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year.

vii Utilisation of borrowed funds and share premium

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

^a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

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

^a. Funding Party (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries

viii Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the
I ncome T ax Act, 1961, that has not been recorded in the books of account.

ix Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

x Valuation of PP&E and intangible asset

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both
during the current or previous year.

30)

Balances of previous year have been re-grouped and re-arranged wherever necessary.

As Per Our Report Of Even Date Attached

For R.K.Khandelwal & Co. For & on Behalf of the Board of Directors of

Chartered Accountants Stellant Securities (India) Limited

Firm Registration no.105054W

Manish Kumar Garg Bhavesh Bafna Mangala Rathod Kalpesh Fifadara

Partner Director Wholetime Director CFO

Membership No.117966 DIN No. : 02402307 DIN No : 02170580

Place: Mumbai
|Date: 28th May, 2024

Sunil Bhimaram Patel
Company Secretary

Place: Mumbai
Date: 28th May, 2024

---

Mar 31, 2013

1 In the opinion of the Board of Directors, the Current Assets, Loans and Advances have a value of realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

2 The balances of unsecured loans, debtors, Creditors, Loans and advances and advances received are subject to confirmation and consequential adjustments.

3. The company is operating in a single segment i.e. trading of goods.

4. Based on the information available with the company regarding status of suppliers as defined under MSMED Act, 2006 there is no amount payable to the Micro, Small and Medium Enterprises.

5. The company had invested Rs. 200 lacs (20,00,000 equity share of Rs. 10/- each) ''n a wholly owned subsidiary company.

6. Earning Per Share

Earning Per Share (EPS) computed in accordance with Accounting Standard 20 issued by the Institute of Chartered Accountants of India.

7. Related Party Transactions during the year as per Accounting Standard 18:

a) Name of the related parties & Description of Relationship

- Holding Company : Nil

- Subsidiary Company : STELLANT STOCK BROKING PRIVATE

LIMITED

- Proprietary Concern : Nil

- Partnership Firm : Nil

- Private / Public Limited Companies : Nil

- Key Management Personnel

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Mar 31, 2012

1 In the opinion of the Board of Directors, the Current' Assets, Loans and Advances have a value of realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

2 The balances of unsecured loans, debtors, Creditors, Loans and advances and advances received are subject to confirmation and consequential adjustments.

3. The company is operating in a. single segment i.e. trading of goods.

4.In accordance with the Notification No. GSR 719 (E) dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro, small and medium Enterprises as defined under the Micro, small and medium development Act 2006. The company is in the process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is still not available, no disclosures have been made in the accounts.

5. The company had invested Rs. 200 lacs (20,00,000 equity share of Rs. 10/- each) in a wholly owned subsidiary company.

6. Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda World Branch. In favour of Central Sales Tax Authority has not been provided for.

7. Related Party Transactions during the year as per Accounting Standard 18: a) Name of the related parties & Descripting of Relationship

- Holding Company - Nil

- Subsidiary Company : STELLANT STOCK BROKING PRIVATE LIMITED

8. Contingent Liabilities:

Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda Worlds Branch. In favour of Central Sales Tax Authority has not been provided for.

9. Previous year's figures

The financial statements for the year ended 31st March, 2011 had been prepared as per then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 313t March, 2012 are prepared as per revised schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

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Mar 31, 2010

1 In the opinion of the Board of Directors, the Current Assets, Loans and Advances have value of realisation in the ordinary course of business.

2 In view of the brought forward losses, no provision has been made for income tax. However, provision of Rs. 14,95,735/- has been made in respect of liabilities towards MAT.

3 The following bank accounts has not been reconciled for non availability of Bank Statement.

1. Indian Overseas Bank- Bombay Branch

2. Bank of Baroda- Delhi Branch

3. Bank of Baroda- Marine Drive Branch

4. Allahabad Bank - Ahmedabad Branch

However, no transaction has been routed through these bank accounts during the year..

4. Contingent Liabilities:

a) Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda Worli Branch. In favour of Central Sales Tax Authority has not been provided for.

5. Previous years figures have been regrouped/ rearranged wherever necessary to confirm to current position.

6. Tax on Income:

A. Deferred Taxes: The Company has unabsorbed carry forward losses/depreciation available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future income, net deferred tax assets at the year end including related credits/charge for the year have not been recognised in these accounts on prudent basis.

B. Current Taxes: Current Tax is determined on the profit for the year in accordance with the provisions of the Income tax Act, 1961.

7. The company is operating in single segment

8. Related Party Disclosures.

Related party disclosures as required under Accounting Standard 18 (AS- 18) on "Related Party Disclosures" issued by the institute of chartered accountants of India (ICAI) are given below.

A) Relationships:

i) Subsidiary company: STELLANT STOCK BROKING (P) LTD.

ii) Associate Company: NIL

iii) Key Management Personnel:

a.) Mrs. MANGLA S RATHOD

iv) Relatives of Key Management Personnel: None

v) Entities over which key management personnel are able to exercises significant influence : None