Notes to Accounts of Sunrise Industrial Traders Ltd.

Mar 31, 2025

5.9 Accounting for Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised in the balance sheet when the Company has a present obligation (legal or constructive) as a
result of a past event, which is expected to result in an outflow of resources embodying economic benefits which can
be reliably estimated. Each provision is based on the best estimate of the expenditure required to settle the present
obligation at the balance sheet date. Where the time value of money is material, provisions are measured on a
discounted basis. The expense relating to any provision is presented in the statement of profit and loss net of any
reimbursement.

Constructive obligation is an obligation that derives from an entity''s actions where:

• by an established pattern of past practice, published policies or a sufficiently specific current statement, the entity
has indicated to other parties that it will accept certain responsibilities, and

• as a result, the entity has created a valid expectation on the part of those other parties that it will discharge those
responsibilities

Contingent liabilities are not recognized in the financial statements. Contingent liabilities are disclosed when there is
a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to
settle the obligation or a reliable estimate of the amount cannot be made.

5.10 Income Tax

Income tax expense comprises both current and deferred tax. Current and deferred taxes are recognized in the
statement of profit and loss, except when they relate to items credited or debited either in other comprehensive
income or directly in equity, in which case the tax is also recognized in other comprehensive income or directly in
equity.

Current income-tax is recognized at the amount expected to be paid to the tax authorities, using the tax rates and tax
laws, enacted or substantially enacted as at the balance sheet date.

Taxable profit differs from net profit as reported in the Standalone statement of profit and loss because it excludes
items of income or expense that are taxable or deductible in other years and it further excludes items that are never
taxable or deductible.

Deferred income tax assets and liabilities are recognized for temporary differences arising between the tax base of
assets and liabilities and their carrying amounts in the financial statements and is accounted for using the balance
sheet liability method.

Deferred income tax assets are recognized to the extent it is probable that taxable profit will be available against which
the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that
it is no longer probable that sufficient taxable profits will be available to allow or part of the deferred income tax asset
to be utilized.

Deferred tax assets and liabilities are measured using tax rates and laws, enacted or substantially enacted as of the

balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are
expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is
recognized as an income or expense in the period that includes the enactment or substantive enactment date.
Deferred tax assets and liabilities are offset to the extent that they relate to taxes levied by the same tax authority and
they are in the same taxable entity, or a Group of taxable entities where the tax losses of one entity are used to offset
the taxable profits of another and there are legally enforceable rights to set off current tax assets and current tax
liabilities within that jurisdiction.

5.11 Recognition of Dividend and Interest Income

Dividend income (including from FVTOCI investments) is recognized when the Company''s right to receive the payment
is established, it is probable that the economic benefits associated with the dividend will flow to the entity and the
amount of the dividend can be measured reliably. This is generally when the shareholders or Board of Directors
approve the dividend.

5.12 Dividends on Ordinary Shares

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

Non-cash distributions are measured at the fair value of the assets to be distributed with fair value remeasurement
recognized directly in equity. Upon distribution of non-cash assets, any difference between the carrying amount of the
liability and the carrying amount of the assets distributed is recognized in the statement of profit and loss.

5.13 Segment Reporting

The Company is primarily engaged in the business of investment in Companies including group companies & engage
of shares and securities. As such the Company''s financial statements are largely reflective of the investment business
and there is no separate reportable segment.

Pursuant to Ind AS 108 - Operating Segments, no segment disclosure has been made in these financial statements, as
the Company has only one geographical segment and no other separate reportable business segment.

5.14 Onerous Contracts

Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a
contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is
measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost
of continuing with the contract. Before a provision is established, the Company recognizes any impairment loss on the
assets associated with that contract.

7.1 The scrip wise details of the investments are given in Note 7.9

7.2 The company has elected an irrevocable option to designate its investments in equity instruments through FVTOCI, as the said
investments are not held for trading and company continues to invest for long term and remain invested in leaders in sectors, which
it believes to have potential to remain accretive over the long term.

7.3 Of the total dividend recognised during the year from investment in equity shares designated at FVTOCI, Rs. 1.67 Lakh is relating to
investment derecognised during the period and Rs. 251.82 Lakh pertains to investments held at the end of reporting period.

7.4 During the year, total cumulative gains (net) of Rs. 1.16 Lakh on investment in equity shares designated at FVTOCI have been
transferred to retained earnings on derecognition of related investments.

7.5 During the current or previous reporting periods the company has not reclassified any investments since its initial classification.

7.6 Shares lent under Stock Lending and Borrowing Scheme of the Securities and Exchange Board of India amount to Rs. 1,011.40 Lakh.

7.7 The company has invested in Property in Ahmedabad and paid Rs. 168.87 Lakh towards Land and construction (Part Payment), the
registration and possession is still pending to be transferred in the name of the company.

7.8 The other disclosure regarding fair value and risk arising from financial instruments are explained in Note No. 26

26.2 Measurement of Fair Values

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition
at fair value, grouped into Level 1 to Level 3, as described below:

Level 1: Quoted (unadjusted) prices in active.

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.

(a) The Management assessed that fair value of Cash and Cash equivalents, trade receivables, trade payables and
other financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities
of these instruments.

(b) Financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

(c) The fair values of the equity investment which are quoted, are derived from quoted market prices in active markets.
The investments measured at fair value and falling under fair value hierarchy Level 3 are valued on the basis of
valuation reports provided by external valuers with the exception of certain investments, where cost has been
considered as an appropriate estimate of fair value because of a wide range of possible fair value measurements
and cost represents the best estimate of fair values within that range.

(d) The fair value of the financial instruments that are not traded in an active market is determined using valuation
techniques. The company uses its judgement to select a variety of methods and make assumptions that ae mainly
based on market conditions existing at the end of each reporting period.

(e) There have been on transfers between Level I and Level 2 for the years ended March 31, 2025 and March 31, 2024.

(f) Reconciliation of Level 3 fair value measurement is as below:

26.3 Derivative Financial Instruments

The Company has not entered into any derivate financial contracts during the current and previous financial years.

26.4 Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

• Credit Risk

• Liquidity Risk and

• Market Risk

The Company has a risk management framework which not only covers the market risks but also other risks associated
with the financial assets and liabilities such as interest rate risks and credit risks.

i) Create a stable business planning environment by reducing the impact of interest rate fluctuations on the
company''s business plan.

ii) Achieve greater predictability to earnings by determining the financial value of the expected earnings in advance.

26.4.1 Credit Risk

Credit Risk is the risk of financial loss to the company if a counter-party fails to meet its contractual obligations. The
company has adopted a policy of only dealing with creditworthy counterparties, as a means of mitigating the risk of
financial loss from defaults. The company''s exposure to financial loss from defaults are continuously monitored.

26.4.2 Liquidity Risk

Liquidity Risk is the risk that the company will not be able to meet its financial obligations as they become due. The
company manages its liquidity risk by ensuring as far as possible, that it will always have sufficient liquidity to meet its
liabilities when due, under both normal a d stressed conditions, without incurring unacceptable losses or risk to the
company''s reputation.

26.4.3 Market Risk

Market Risk is the risk of loss or future earnings, fair values or future cash flows that may result from adverse
changes in market rates and prices (such as Equity Prices, Interest Rates, etc.) or in the price of market risk-sensitive
instruments as a result of such adverse changes in market rates and prices. The company is exposed to market risk
primarily related to the market value of its investments.

(a) Interest Rate Risk

Interest Rate risk arises from effects of fluctuation in prevailing levels of market interest rates on the fair value of Bonds/
Debentures.

Exposure to Interest Rate Risk:

Since the company does not have any financial assets or financial liabilities bearing floating interest rates, any change
in interest rates at the reporting date would not have any significant impact on the financial statement of the company.

(b) Currency Risk

Currently company does not have transaction in foreign currencies and hence the company is not exposed to currency
risk.

(c) Price Risk

The company is exposed to Equity price risk arising from investments held by the company and classified in the Balance
Sheet either as fair value through OCI.

To manage its price risk arising from investments in Equity, Securities. The company diversifies its portfolio. The
majority of the company''s equity investments are listed on the BSE or NSE in India.

27. Capital Management

The company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence
and to sustain future development of the business.

The company has adequate cash and cash equivalents. The company monitors its capital by a careful scrutiny of the
cash and cash equivalents and a regular assessment of any debt requirements. In the absence of any debt, the
maintenance of debt equity ratio etc. may not be of any relevance to the company.

Following are the additional disclosures required as per Schedule III of the Companies Act, 2013 vide Notification dated
March 24, 2021:

(a) Details of Benami Property Held:

There are no proceedings which have been initiated or pending against the company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(b) Willful Defaulter:

The company has not been declared as willful defaulter by any Bank or Financial Institution or other Lender.

(c) Relationship with Struck off Companies:

During the year, the company does not have any transactions with the companies struck off under Section 248 of the
Companies Act, 2013 or section 560 of the Companies Act, 1956.

(d) Compliance with number of Layers of Companies:

Clause (87) of Section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable
to the company.

(e) Utilisation of Borrowed Funds and Share Premium:

During the financial year ended 31^st March 2024, other than the transactions undertaken in the normal course of
business and in accordance with extant regulatory guidelines as applicable.

i. No funds (which are material either individually or in the aggregate) have been advanced or loaned or invested
(either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any
other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in
writing or otherwise, that the intermediary shall, whether, 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 provide
any guarantee, security or the like on behalf of the ultimate beneficiaries.

ii. No funds (which are material either individually or in the aggregate) have been received by the company from any
person entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or
otherwise, that the company shall, whether 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.

(f) Undisclosed Income:

The company does not have transactions nor recorded in the books of accounts that has been surrendered or disclosed
as income during the year in the tax assessments under the Income tax, 1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961). Also, there are Nil previously unrecorded income and related assets.

(g) Details of Crypto Currency or Virtual Currency:

The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(h) Capital work in progress (CWIP) and Intangible asset:

The company does not have any CWIP and Intangible asset under development.

(i) The company has not revalued its Property, Plant and Equipment during the year as well as in the previous year.

(j) The company has not made any delay in Registration of Charges under the Companies Act,2013.

28. Additional regulatory information as required by Schedule III to the Companies Act, 2013
• Ratio Analysis and its Elements:

The % change given below is only for indicative purposes and does not reflect the actual variance and cannot be
considered as an indicator of financial performance.

(i) Debt Equity Ratio = Long term Debt / Equity: N.A

(j) Debt Service Coverage Ratio = Earnings available for Debt Service / Total Interest & Principal Repayment: N.A

29. The Company has not recognized deferred tax on all deductible temporary differences based on the certainty and
virtual certainty requirement as per Ind As 112 income tax. The temporary difference amounting to ^ 1,66,564.00
resulting in tax difference of ^ 41,921.00 has not been adjusted in profit and loss account. Thereby, Deferred Tax
Liability to the extent of ^ 41,921.00 has not been reflected in the Balance Sheet.

30. Events after Reporting Date

There have been no events after the reporting date that require disclosure in these financial statements.

31. Previous year''s figures have been regrouped, wherever necessary, to correspond with current year''s classification.

For A N SHAH & ASSOCIATES FOR AND ON BEHALF OF THE BOARD OF

Chartered Accountants SUNRISE INDUSTRIAL TRADERS LTD

Firm Registration No.: 152559W

Akash Shah SURESH B. RAHEJA PREKSHA D. SHAH

Proprietor WHOLE-TIME DIRECTOR INDEPENDENT DIRECTOR

Membership No.: 191340 DIN : 00077245 DIN : 10601507

Place: Mumbai ALKESH S RAHEJA AYUSHI SARAF

Date: 3^rd May, 2025 CHIEF FINANCIAL OFFICER COMPANY SECRETARY

---

Mar 31, 2024

5.9 Accounting for Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised in the balance sheet when the Company has a present obligation (legal or
constructive) as a result of a past event, which is expected to result in an outflow of resources embodying
economic benefits which can be reliably estimated. Each provision is based on the best estimate of the
expenditure required to settle the present obligation at the balance sheet date. Where the time value of
money is material, provisions are measured on a discounted basis. The expense relating to any provision is
presented in the statement of profit and loss net of any reimbursement.

Constructive obligation is an obligation that derives from an entity''s actions where:

• by an established pattern of past practice, published policies or a sufficiently specific current statement,
the entity has indicated to other parties that it will accept certain responsibilities, and

• as a result, the entity has created a valid expectation on the part of those other parties that it will
discharge those responsibilities

Contingent liabilities are not recognised in the financial statements. Contingent liabilities are disclosed when
there is a possible obligation arising from past events, the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company or a present obligation that arises from past events where it is either not probable that an outflow
of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made.

5.10 Income Tax

Income tax expense comprises both current and deferred tax. Current and deferred taxes are recognised in
the statement of profit and loss, except when they relate to items credited or debited either in other
comprehensive income or directly in equity, in which case the tax is also recognised in other comprehensive
income or directly in equity.

Current income-tax is recognised at the amount expected to be paid to the tax authorities, using the tax
rates and tax laws, enacted or substantially enacted as at the balance sheet date.

Taxable profit differs from net profit as reported in the Standalone statement of profit and loss because it
excludes items of income or expense that are taxable or deductible in other years and it further excludes
items that are never taxable or deductible.

Deferred income tax assets and liabilities are recognised for temporary differences arising between the tax
base of assets and liabilities and their carrying amounts in the financial statements and is accounted for
using the balance sheet liability method.

Deferred income tax assets are recognised to the extent it is probable that taxable profit will be available
against which the deductible temporary differences and the carry forward of unused tax credits and unused
tax losses can be utilised.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow or part of the
deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using tax rates and laws, enacted or substantially enacted as
of the balance sheet date and are expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income
tax assets and liabilities is recognised as an income or expense in the period that includes the enactment or
substantive enactment date.

Deferred tax assets and liabilities are offset to the extent that they relate to taxes levied by the same tax
authority and they are in the same taxable entity, or a Group of taxable entities where the tax losses of one
entity are used to offset the taxable profits of another and there are legally enforceable rights to set off
current tax assets and current tax liabilities within that jurisdiction.

5.11 Recognition of Dividend and Interest Income

Dividend income (including from FVTOCI investments) is recognised when the Company''s right to receive the
payment is established, it is probable that the economic benefits associated with the dividend will flow to
the entity and the amount of the dividend can be measured reliably. This is generally when the shareholders
or Board of Directors approve the dividend.

5.12 Dividends on Ordinary Shares

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

Non-cash distributions are measured at the fair value of the assets to be distributed with fair value
remeasurement recognised directly in equity. Upon distribution of non-cash assets, any difference between
the carrying amount of the liability and the carrying amount of the assets distributed is recognised in the
statement of profit and loss.

5.13 Segment Reporting

The Company is primarily engaged in the business of investment in Companies including group companies &
engage of shares and securities. As such the Company''s financial statements are largely reflective of the
investment business and there is no separate reportable segment.

Pursuant to Ind AS 108 - Operating Segments, no segment disclosure has been made in these financial
statements, as the Company has only one geographical segment and no other separate reportable business
segment.

5.14 Onerous Contracts

Provisions for onerous contracts are recognised when the expected benefits to be derived by the Company
from a contract are lower than the unavoidable costs of meeting the future obligations under the contract.
The provision is measured at the present value of the lower of the expected cost of terminating the contract
and the expected net cost of continuing with the contract. Before a provision is established, the Company
recognises any impairment loss on the assets associated with that contract.

7.1 The script wise details of the Investments are given in Note 7.9

7.2 The company has elected an irrevocable option to designate its investments in equity instruments through FVTOCI,
as the said investments are not held for trading and the company continues to invest for long term and remains
invested in leaders in sectors, which it believes to have potential to remain accretive over the long term.

7.3 Of the total Dividend recognised during the year from investment in equity shares designated at FVTOCI Rs.

6.20 lacs is relating to investment derecognised during the period and Rs.226.06 lacs pertains to investments held
at the end of the reporting period.

7.4 During the year, total cumulative gains (net) of Rs.36.39 lacs on investments in equity shares designated at
FVTOCI have been transferred to retained earnings on derecognition of related investments.

7.5 During the current or previous reporting periods the company has not reclassified any investments since its initial
classification.

7.6 Shares lent under Stock Lending and Borrowing Scheme of the Securities and Exchange Board of India amounts
to Rs.1,995.23 lacs

7.7 The company has invested in Property in Ahmedabad and paid Rs.131.55 lacs towards Land and construction
(Part Payment), the registration and possession is still pending to be transferred to the name of the company.

7.8 The other disclosure regarding fair value and risk arising from financial instruments are explained in Note No.26

23. Segment Information:

The Company is engaged in the business of Investing in Shares, Securities, Commodities and Bonds. All
other activities of the company revolve around its main business. The Whole Time Director (WTD) of the
company has been identified as the Chief Operating Decision Maker (CODM). The CODM evaluates the
company''s performance, allocates resources based on analysis of the various performance indicators of
the company as a single unit. Therefore directors have concluded that there is only one operating
reportable segment as defined by Ind AS 108.

The company operates only in one geographical region i.e. India

26.2 Measurement of Fair Values:

The following table provides an analysis of financial instruments that are measured subsequent to initial
recognition at fair value, grouped into Level 1 to Level 3, as described below:

Level 1: Quoted (unadjusted) prices in active.

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.

(a) The Management assessed that fair value of Cash and Cash equivalents, trade receivables, trade payables and
other financial assets and liabilities approximate their carrying amounts largely due to the short-term
maturities of these instruments.

(b) Financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

(c) The fair values of the equity investment which are quoted, are derived from quoted market prices in active
markets. The investments measured at fair value and falling under fair value hierarchy Level 3 are valued on
the basis of valuation reports provided by external valuers with the exception of certain investments, where
cost has been considered as an appropriate estimate of fair value because of a wide rage of possible fair value
measurements and cost represents the best estimate of fair values within that range.

(d) The fair value of the financial instruments that are not traded in an active market is determined using
valuation techniques. The company uses its judgement to select a variety of methods and make assumptions
that ae mainly based on market conditions existing at the end of each reporting period.

(e) There have been on transfers between Level I and Level 2 for the years ended March 31, 2024 and March 31,
2023.

26.3 Derivative Financial Instruments:

The Company has not entered into any derivate financial contracts during the current and previous financial
years.

26.4 Financial Risk Management:

The Company has exposure to the following risks arising from financial instruments:

• Credit Risk

• Liquidity Risk and

• Market Risk

The Company has a risk management framework which not only covers the market risks but also other risks
associated with the financial assets and liabilities such as interest rate risks and credit risks.

i) Create a stable business planning environment by reducing the impact of interest rate fluctuations on the
company''s business plan.

ii) Achieve greater predictability to earnings by determining the financial value of the expected earnings in
advance.

26.4.1 Credit Risk:

Credit Risk is the risk of financial loss to the company if a counter-party fails to meet its contractual obligations.
The company has adopted a policy of only dealing with creditworthy counterparties, as a means of mitigating
the risk of financial loss from defaults. The company''s exposure to financial loss from defaults are continuously
monitored.

26.4.2 Liquidity Risk:

Liquidity Risk is the risk that the company will not be able to meet its financial obligations as they become due.
The company manages its liquidity risk by ensuring as far as possible, that it will always have sufficient liquidity
to meet its liabilities when due, under both normal a d stressed conditions, without incurring unacceptable
losses or risk to the company''s reputation.

26.4.3 Market Risk:

Market Risk is the risk of loss or future earnings, fair values or future cash flows that may result from adverse
changes in market rates and prices (such as Equity Prices, Interest Rates, etc.) or in the price of market risk-
sensitive instruments as a result of such adverse changes in market rates and prices. The company is exposed
to market risk primarily related to the market value of its investments.

(a) Interest Rate Risk:

Interest Rate risk arises from effects of fluctuation in prevailing levels of market interest rates on the
fair value of Bonds / Debentures.

Exposure to Interest Rate Risk:

Since the company does not have any financial assets or financial liabilities bearing floating interest
rates, any change in interest rates at the reporting date would not have any significant impact on the
financial statement of the company.

(b) Currency Risk:

Currently company does not have transaction in foreign currencies and hence the company is not
exposed to currency risk.

(c) Price Risk:

The company is exposed to Equity price risk arising from investments held by the company and
classified in the Balance Sheet either as fair value through OCI.

To manage its price risk arising from investments in Equity, Securities. The company diversifies its
portfolio. The majority of the company''s equity investments are listed on the BSE or NSE in India.

27. Capital Management:

The company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market
confidence and to sustain future development of the business.

The company has adequate cash and cash equivalents. The company monitors its capital by a careful scrutiny
of the cash and cash equivalents and a regular assessment of any debt requirements. In the absence of any
debt, the maintenance of debt equity ratio etc. may not be of any relevance to the company.

Following are the additional disclosures required as per Schedule III of the Companies Act, 2013 vide
Notification dated March 24,2021;

(a) Details of Benami Property Held:

There are no proceedings which have been initiated or pending against the company for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(b) Willful Defaulter:

The company has not been declared as willful defaulter by any Bank or Financial Institution or other
Lender.

(c) Relationship with Struck off Companies:

During the year, the company does not have any transactions with the companies struck off under
Section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

(d) Compliance with number of Layers of Companies:

Clause (87) of Section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017
is not applicable to the company.

(e) Utilisation of Borrowed Funds and Share Premium:

During the financial year ended 31^st March 2024, other than the transactions undertaken in the normal
course of business and in accordance with extant regulatory guidelines as applicable.

i. No funds (which are material either individually or in the aggregate) have been advanced or
loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the company to or in any other person or entity, including foreign entity
("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that

the intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
ii. No funds (which are material either individually or in the aggregate) have been received by
the company from any person entity, including foreign entity ("Funding Parties"), with the
understanding, whether recorded in writing or otherwise, that the company shall, whether
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.

(f) Undisclosed Income:

The company does not have transactions nor recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income tax, 1961
(such as, search or survey or any other relevant provisions of the Income Tax Act, 1961). Also, there
are Nil previously unrecorded income and related assets.

(g) Details of Crypto Currency or Virtual Currency:

The company has not traded or invested in Crypto currency or Virtual Currency during the financial
year.

(h) Capital work in progress (CWIP) and Intangible asset:

The company does not have any CWIP and Intangible asset under development.

(i) The company has not revalued its Property, Plant and Equipment during the year as well as in the
previous year.

(j) The company has not made any delay in Registration of Charges under the Companies Act,2013.

28. Additional regulatory information as required by Schedule III to the Companies Act,2013
Ratio Analysis and its Elements:

The % change given below is only for indicative purposes and does not reflect the actual variance and
cannot be considered as an indicator of financial performance.

c. Inventory Turnover Ratio = Cost of Material consumed / Average Inventory: N.A.

d. Trade Receivable Turnover Ratio = Credit Sales / Average Trade Receivables: N.A.

e. Trade Payable Turnover Ratio = Credit Purchases / Average Trade Payables: N.A.

f. Net Capital Turnover Ratio = Sales / Net Working Capital: N.A.

i. Debt Equity Ratio = Long term Debt / Equity: N.A.

j. Debt Service Coverage Ratio = Earning available for Debt Service / Total Interest & Principal Repayment:
N.A.

29. The Company has not recognized deferred tax on all deductible temporary differences based on the
certainty and virtual certainty requirement as per Ind As 112 income tax. The temporary difference
amounting to Rs.3.15 lacs resulting in tax difference of Rs.0.79 lacs has not been adjusted in
profit and loss account.

Thereby, Deferred Tax Liability to the extent of Rs.0.79 lacs has not been reflected in the Balance
Sheet.

30. Events after Reporting Date

There have been no events after the reporting date that require disclosure in these financial
statements.

31. Previous year''s figures have been regrouped, wherever necessary, to correspond with current year''s
classification.

For A N SHAH & ASSOCIATES
Chartered Accountants
Firm Registration No: 152559W

Suresh B Raheja Nita J Desai

Whole Time Director Independent Director

DIN: 00077245 DIN : 02222912

AKASH SHAH
Proprietor

Membership No: 191840

Place : Mumbai Alkesh S Raheja Ayushi Saraf

Chief Financial Officer Company Secretary

Date : 2^nd May,2024

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Mar 31, 2015

A. Appeals and Rectification for Assessment Year 1996-97, 1997-98, 2001-01, 2009-10, 2010-11, 2011-12 & 2012-13 are pending. The Tax deducted at source are shown as receivable.

B. There are no contingent liabilities according to the management.

E. Figures of previous years are re-arranged and re-grouped wherever required.

F. The deferred tax asset amounting to Rs.86,912/-, resulting in tax difference of Rs.26,856/- has not been adjusted in Profit & Loss Account. Thereby Deferred tax asset to the extent of Rs.26,856/- has not been reflected in the Balance Sheet.

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Mar 31, 2012

Not Available

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Mar 31, 2011

Not Available

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Mar 31, 2010

1.Units of Mutual Finds are not considered hereinabove, since that forms of investments and the income/loss from redemption before one year is treated as short term gains.

a. Appeals and Rectification for Assesment Year 1996-97,1997-98, 2006-07 are pending. The Tax deducted at source are shown as receivable.

b. There are no contingent liabilities according to the management.

c. Figures pf previous years are re-arranged and re-grouped wherever required.