Notes to Accounts of Urja Global Ltd.

Mar 31, 2025

2.9 Provisions, Contingent Liabilities And Contingent Assets

Provisions:

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.

When the Company expects some or all of a provision to be reimbursed, reimbursement is recognised as a separate asset, but
only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit
and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognised as a finance cost.

Contingencies

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 or a reliable estimate of the amount cannot be made.

2.10 Cash and cash equivalents

Cash and cash equivalent in the balance sheet and for the purpose of cash flow statement comprise cash at banks.

2.11 Leases

At inception of a contract, the Company assesses whether a contract is, or contain a lease. A contract is,or contains, a lease if
the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To
assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:

* The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically
distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive
substation right, then the asset is not identified;

* The Company has the right to substantially all of the economic benefits from the use of the asset throughout the period
of use; and

* The Company has the right to direct the use of the asset. The Company has this right when it has the decision making rights
that are most relevant to changing how and for what purposes the asset is used.

* In rare cases where the decision about how and for what purpose the asset is used is predetermined, the Company has the
right to direct the use of the asset if either:

- The Company has the right to operate the asset; or

- The Company designed the asset in a way that predetermines how and for what purposes it will be used.

As a practical expedient, Ind AS 116 permits a lessee not to separate non-lease components, and instead account for any
lease and associated non-lease components as a single arrangement. The Company has not used this practical expedient. At
inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the
contract to each lease component on the basis of their relative stand-alone prices.

The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-
ofuse asset is initially measured at cost, which comprises of the initial amount of the lease liability adjusted for any
lease payments made at or before the commencement date, plus any initial direct costs incurred and estimated
dilapidation costs, less any lease incentives received. The right-of-use asset is subsequently amortised using the
straight-line method over the shorter of the useful life of the leased asset or the period of lease. If ownership of
the leased asset is automatically transferred at the end of the lease term or the exercise of a purchase option is
reflected in the lease payments, the right-of-use asset is amortised on a straightline basis over the expected useful
life of the leased asset.

The lease liability is initially measured at the present value of the lease payments that are not paid at commencement date,
discounted using, the Company''s incremental borrowing rate. The lease liability is measured at amortised cost using the
effective interest method. It is re measured when there is a change in future lease payments. The Company has elected not to
recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases
of low value assets . The Company associates the lease payments associated with these leases as an expense on a straight line
basis over the lease term.

Lease payments include fixed payments, i.e. amounts expected to be payable by the Company under residual value
guarantee, the exercise price of a purchase option if the Company is reasonably certain to exercise that option
and payment of penalties for terminating the lease if the lease term considered reflects that the Company shall
exercise termination option. The Company also recognises a right of use asset which comprises of amount of initial
measurement of the lease liability, any initial direct cost incurred by the Company and estimated dilapidation costs.

2.12 Earnings per Share

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average
number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number
of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on
conversion of all the dilutive potential Equity shares into Equity shares.

B Fair value hierarchy

The management assessed that 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. Also, since security deposits and
borrowings are measured at fair value only on initial recognition, disclosure requirements for the valuation techniques, inputs used
to develop those measurements and the level of the fair value hierarchy within which the fair value measurements are categorised
in their entirety are not applicable.

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

Level 2 - Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part
using a valuation model based on assumptions that are neither supported by prices from observable current market transactions
in the same instrument nor are they based on available market data.

29 Income tax

Deferred tax liabilities as per Indian Accounting Standards 12 on Accounting for Taxes on income pertaining to the timing
between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

31 Other matters & disclosures

i) The Company does not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.

ii) There was no amount required to be transferred to the Investor Education and Protection Fund by the Company during the
year ended March 31, 2025

32 Significant accounting judgments, estimates and assumptions

The preparation of the company''s financial statements requires management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the
disclosure of contingent liabilities. 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.

Judgements

In the process of applying the company’s accounting policies, management has made the following judgements, which have the
most significant effect on the amounts recognised in the financial statements:

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year,
are described below. Existing circumstances and assumptions about future developments, however, may change due to market
changes or circumstances arising that are beyond the control of the company. Such changes are reflected in the assumptions
when they occur.

Taxes

Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available
against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred
tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax
planning strategies.

(i) Exemptions from retrospective application:

Deemed cost exemption

The Company has elected to continue with the carrying value for all of its property, plant and equipment and intangible assets
as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and used it
as its deemed cost as at the date of transition.

(ii) Exceptions from full retrospective application:

Estimates exception

Upon an assessment of the estimates made under Previous GAAP, the Company has no necessity to revise such estimates under
Ind AS.

The accompanying notes form an integral part of the financial statements.

As per our report of even date attached. For and on behalf of the Board of Directors

Urja Global Limited

For Uttam Abuwala Ghosh & Associates CIN: L67120DL1992PLC048983

Chartered Accountants

Firm''s Registration No: 111184W

Sd/- Sd/-

Mohan Jagdish Agarwal Yogesh Kumar Goyal

Sd/- Managing Director Whole Time Director

CA Subhash Jhunjhunwala DIN:07627568 DIN:01644763

Partner New Delhi New Delhi

Membership No: 016331

Mumbai Sd/- Sd/-

Date: May 21, 2025 Sachin Agrahari Priyanka

UDIN: 24016331BKBHDT9350 Chief Financial Officer Company Secretary

New Delhi New Delhi

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Mar 31, 2024

2.9 Provisions, Contingent Liabilities And Contingent Assets Provisions:

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.

When the Company expects some or all of a provision to be reimbursed, reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingencies

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 or a reliable estimate of the amount cannot be made.

2.10 Cash and cash equivalents

Cash and cash equivalent in the balance sheet and for the purpose of cash flow statement comprise cash at banks.

2.11 Leases

At inception of a contract, the Company assesses whether a contract is, or contain a lease. A contract is,or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:

* The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substation right, then the asset is not identified;

* The Company has the right to substantially all of the economic benefits from the use of the asset throughout the period of use; and

* The Company has the right to direct the use of the asset. The Company has this right when it has the decision making rights that are most relevant to changing how and for what purposes the asset is used.

* In rare cases where the decision about how and for what purpose the asset is used is predetermined, the Company has the right to direct the use of the asset if either:

- The Company has the right to operate the asset; or

- The Company designed the asset in a way that predetermines how and for what purposes it will be used.

As a practical expedient, Ind AS 116 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement. The Company has not used this practical expedient. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-ofuse asset is initially measured at cost, which comprises of the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and estimated dilapidation costs, less any lease incentives received.

The right-of-use asset is subsequently amortised using the straight-line method over the shorter of the useful life of the leased asset or the period of lease. If ownership of the leased asset is automatically transferred at the end of the lease term or the exercise of a purchase option is reflected in the lease payments, the right-of-use asset is amortised on a straightline basis over the expected useful life of the leased asset.

The lease liability is initially measured at the present value of the lease payments that are not paid at commencement date, discounted using, the Company''s incremental borrowing rate. The lease liability is measured at amortised cost using the effective interest method. It is re measured when there is a change in future lease payments. The Company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low value assets.

The Company associates the lease payments associated with these leases as an expense on a straight line basis over the lease term.

Lease payments include fixed payments, i.e. amounts expected to be payable by the Company under residual value guarantee, the exercise price of a purchase option if the Company is reasonably certain to exercise that option and payment of penalties for terminating the lease if the lease term considered reflects that the Company shall exercise termination option.

The Company also recognises a right of use asset which comprises of amount of initial measurement of the lease liability, any initial direct cost incurred by the Company and estimated dilapidation costs.

2.12 Earnings per Share

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

B Fair value hierarchy

The management assessed that 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. Also, since security deposits and borrowings are measured at fair value only on initial recognition, disclosure requirements for the valuation techniques, inputs used to develop those measurements and the level of the fair value hierarchy within which the fair value measurements are categorised in their entirety are not applicable.

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

Level 2 - Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

29 Income tax

Deferred tax liabilities as per Indian Accounting Standards 12 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

30 Contingency Liabilities details & disclosed the impact of pending litigations

Urja Gobal Limited - The CGST and SGST department in Delhi has issued a demand for the reversal of 12.46 Crores Input Tax Credit. The company has filed a reply, and the matter may be resolved soon.

31 Other matters & disclosures

i) The Company does not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

ii) There was no amount required to be transferred to the Investor Education and Protection Fund by the Company during the year ended 31^st MARCH 2024

32 Significant accounting judgments, estimates and assumptions

The preparation of the company''s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. 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.

Judgements

In the process of applying the company''s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the company. Such changes are reflected in the assumptions when they occur.

Taxes

Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.

(i) Exemptions from retrospective application:

Deemed cost exemption

The Company has elected to continue with the carrying value for all of its property, plant and equipment and intangible assets as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and used it as its deemed cost as at the date of transition.

(ii) Exceptions from full retrospective application:

Estimates exception

Upon an assessment of the estimates made under Previous GAAP, the Company has no necessity to revise such estimates under Ind AS.”

The accompanying notes form an integral part of the financial statements.

As per our report of even date attached. For and on behalf of the Board of Director

For Uttam Abuwala Ghosh & Associates Urja Global Limited

Chartered Accountants

Firm''s Registration No: 111184W

Sd/- Sd/-

Mohan Jagdish Agarwal Yogesh Kumar Goyal

Sd/- Managing Director Whole Time Director

CA Subhash Jhunjhunwala DIN:07627568 DIN:01644763

Partner New Delhi New Delhi

Membership No: 016331

Mumbai Sd/- Sd/-

Date: May 22, 2024 Sushil Priyanka

UDIN: 24016331BKBHDT9350 Chief Financial Officer Company Secretary

New Delhi New Delhi

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Mar 31, 2023

(b) Terms and rights attached to equity shares Equity Shares

* The Company has only one class of Equity Shares having a par value of Re. 1/- per share. Each holder of Equity Share is entitled to one vote per share.

** In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. Trade payables are non-interest bearing and the balances are subject to confirmation during the year.

2. For explanations on the Company''s credit risk management processes, refer to Note No. 32 (c)

3. Based on the information available with the Company, the balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006 is Rs. 31711322/- (Previous year Rs. 69532082/-) and interest during the year Rs. Nil (Previous year Rs. Nil) has been paid or is payable under the terms of the MSMED Act, 2006. The information provided by the Company has been relied upon by the auditors.

Note 26 - Earnings per Share

Basic and Diluted EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company (after adjusting for employee stock options) by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

Note 27 - Contingent liabilities (to the extent not provided for)

The Income Tax demand of Rs. 1,00,11,781/- plus interest for the A.Y. 2012-2013 against which the company has filed an appeal with CIT (a) IX, New Delhi.

There is a Sales Tax Demand (DVAT) of Rs. 57,79,007 including Rs. 21,68,055 as an Interest for the F.Y. 2014-15 for which company has filed an appeal with Joint Commissioner Appellate.

Note 28 - Related Party Transactions

In accordance with the requirement of Ind AS 24 on Related Parties notified under the Companies (Indian Accounting Standards) Rules, 2015, the name of related parties where control exists and /or with whom transactions have taken place during the year and description of relationships, as identified and certified by the Management are:

Figures in brackets represent transactions done in last financial year.

*Ms. Neha Shukla resigned on 20th June 2022

** Mr. Gaurav Aggarwal Joined as CEO w.e.f Ist April 2022 and resigned on 3rd March 2023

*** Preeti Kataria appointed as Compliance Officer on 20th June and resigned on 25th January 2023.

**** Priyanka appointed CS and Compliance Officer on 3rd March.

Note 29 - Income Tax

Deferred Tax Assets for the year of Rs. 12364/- as per Indian Accounting Standards 12 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

Note 30 - Significant accounting judgments, estimates and assumptions

The preparation of the company''s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. 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.

Judgements

In the process of applying the company''s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

ESTIMATES AND ASSUMPTIONS

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the company. Such changes are reflected in the assumptions when they occur.

Taxes

Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.

Note 31 - Fair values

Set out below, is a comparison by class of the carrying amounts and fair value of the Company''s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values:

The management assessed that cash and cash equivalents, trade receivables, other bank balances and trade payables approximate their carrying amounts largely due to the short-term maturities of these instruments. The fair value of the financial assets and liabilities is 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 Company determines fair values of financial assets and financial liabilities by discounting the contractual cash inflows/ outflows using prevailing interest rates of financial instruments with similar terms. The initial measurement of financial assets and financial liabilities is at fair value. The fair value of investment is determined using quoted net assets value from the fund. Further, the subsequent measurement of all financial assets and liabilities (other than investment in mutual funds) is at amortised cost, using the effective interest method.

Note 32 - Financial risk management objectives and policies

The Company''s principal financial liabilities comprise trade payables, employee related liabilities, etc. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include trade and other receivables, cash and cash equivalents, security deposits, etc. that derive directly from its operations. The Company also holds FVTPL investments.

The Company is exposed to market risk, credit risk and liquidity risk. The company’s senior management oversees the management of these risks. The company’s senior management is responsible for formulating an appropriate financial risk governance framework for the Company and periodically reviewing the same. The company’s senior management ensures that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The company’s senior management reviews and agrees policies for managing each of these risks, which are summarised below.

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments affected by market risk include fixed deposits and FVTPL investments.

(i) Interest Rate Risk

The company does not have any borrowings or significant interest bearing assets. So, the Company is not exposed to such risk.

(ii) Foreign currency Risk

The Indian Rupee is the Company''s most significant currency. As a consequence, the Company''s results are presented in Indian Rupee. Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company transacts business majorly in local currency and there is no significant foreign currency transactions, therefore do not pose a significant foreign currency risk on the company.

(a) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its investing activities, including deposits with banks and financial institutions. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all customers requiring credit over a certain amount.

"Financial instruments and cash deposits

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. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

The Company''s maximum exposure to credit risk for the components of the Balance Sheet at reporting dates are the carrying amounts as illustrated in note below.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:"

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:"

Note 33 - Capital management

The company''s policy is to maintain a strong capital base so as to maintain investor, creditor confidence and to sustain future development of the business. The company’s senior management monitor the return on capital employed and gearing ratio.

* Total liabilities majorly consists of trade payables, statutory dues etc.

There were no changes in the Company''s approach to capital management during the year ended 31 March 2023 and 31 March 2022.

Note 34 - The Company has created a Debtors Control Account by setting off the Trade Receivable and Trade Payables for Rs.78.79 Lakhs.(i) Exemptions from retrospective application:

Deemed cost exemption

The Company has elected to continue with the carrying value for all of its property, plant and equipment and intangible assets as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and used it as its deemed cost as at the date of transition.

(ii) Exceptions from full retrospective application:

"Estimates exception

Upon an assessment of the estimates made under Previous GAAP, the Company has no necessity to revise such estimates under Ind AS."

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Mar 31, 2018

1.1 Corporate information

Urja Global Limited was incorporated in India on May 29, 1992 and is a company registered under the Companies Act, 1956. The registered office of the Company is located at Office No.915, Pearl Omaxe Tower 2, Netaji Subhash Place, Pitampura Delhi- 110034 India. The principal place of business of the Company is in India.

The Company is primarily engaged in the business of “Design, Consultancy, integration, supply, installation, commissioning & maintenance of off-grid and grid connected Solar Power Plants and decentralized Solar Application.

1.2 Basis of Preparation

The financial statements (“Financial Statements”) of the Company have been prepared in accordance with Indian Accounting Standards (“Ind AS”) notified under the Companies’ (Indian Accounting Standard) Rules, 2015, as amended from time to time.

For all periods up to and including the year ended 31 March, 2017, the Company prepared its financial statements in accordance with accounting standards notified under Companies Accounting Standard Rules, 2006 as amended, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (“Indian GAAP”).

These financial statements are covered by Ind AS 101, First time adoption of Indian Accounting Standards, as they are part of the period covered by the Company’s first Ind AS financial statements for the year ending 31 March, 2017.

The transition was carried out from the accounting principles generally accepted in India (Indian GAAP) which is considered as Previous GAAP as defined in Ind AS 101. An explanation of how the transition to Ind AS has impacted the Company’s equity and profits is provided in Note 35. The preparation of these financial statements resulted in changes to the accounting policies as compared to most recent annual financial statements prepared under Indian GAAP. Accounting policies have been applied consistently to all periods presented in the financial statements. They have also been applied in preparing the Ind AS opening Balance Sheet as at 1 April, 2016 for the purpose of transition to Ind AS and as required by Ind AS 101. All the Ind AS impact as on the date of transition i.e. 1 April, 2016 has been adjusted with Retained Earnings.

(B) Terms and rights attached to equity shares Equity Shares

* The Company has only one class of Equity Shares having a par value of Re. 1/- per share. Each holder of Equity Share is entitled to one vote per share.

** In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Notes:

1. Trade payables are non-interest bearing.

2. For explanations on the Company’s credit risk management processes, refer to Note

3. Based on the information available with the Company, the balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006 is Rs. Nil (Previous year Rs. Nil) and interest during the year Rs. Nil (Previous year Rs. Nil) has been paid or is payable under the terms of the MSMED Act, 2006. The information provided by the Company has been relied upon by the auditors.

2 Earnings per Share

Basic and Diluted EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company (after adjusting for employee stock options) by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

The following reflects the income and share data used in the basic and diluted EPS computations:

3 Contingent liabilities (to the extent not provided for)

The Income Tax demand of Rs. 3,68,443/- ( 31st March 2017 : Rs. 3,68,443 ) for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

4 Related Party Transactions

In accordance with the requirement of Ind AS 24 on Related Parties notified under the Companies (Indian Accounting Standards) Rules, 2015, the name of related parties where control exists and /or with whom transactions have taken place during the year and description of relationships, as identified and certified by the Management are:

5 Income Tax

Deferred Tax Assets for the year of Rs. 29,180/- as per Indian Accounting Standards 12 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

6 Significant accounting judgments, estimates and assumptions

The preparation of the company’s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. 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.

Judgements

In the process of applying the company’s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

ESTIMATES AND ASSUMPTIONS

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the company. Such changes are reflected in the assumptions when they occur.

Taxes

Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.

The management assessed that cash and cash equivalents, trade receivables, other bank balances and trade payables approximate their carrying amounts largely due to the short-term maturities of these instruments. The fair value of the financial assets and liabilities is 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 Company determines fair values of financial assets and financial liabilities by discounting the contractual cash inflows/ outflows using prevailing interest rates of financial instruments with similar terms. The initial measurement of financial assets and financial liabilities is at fair value. The fair value of investment is determined using quoted net assets value from the fund. Further, the subsequent measurement of all financial assets and liabilities (other than investment in mutual funds) is at amortised cost, using the effective interest method.

7 Financial risk management objectives and policies

The Company’s principal financial liabilities comprise trade payables, employee related liabilities, etc. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include trade and other receivables, cash and cash equivalents, security deposits, etc. that derive directly from its operations. The Company also holds FVTPL investments.

The Company is exposed to market risk, credit risk and liquidity risk. The company’s senior management oversees the management of these risks. The company’s senior management is responsible for formulating an appropriate financial risk governance framework for the Company and periodically reviewing the same. The company’s senior management ensures that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The company’s senior management reviews and agrees policies for managing each of these risks, which are summarised below.

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise three types of risk: interest rate risk, foreign currency risk and price risk. Financial instruments affected by market risk include fixed deposits and FVTPL investments.

(i) Interest Rate Risk

The company does not have any borrowings or significant interest bearing assets. So, the Company is not exposed to such risk.

(ii) Foreign currency risk

The Indian Rupee is the Company’s most significant currency. As a consequence, the Company’s results are presented in Indian Rupee. Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company transacts business majorly in local currency and there is no significant foreign currency transactions, therefore do not pose a significant foreign currency risk on the company.

(b) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its investing activities, including deposits with banks and financial institutions. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all customers requiring credit over a certain amount.

Trade receivables

Customer credit risk is managed by each business unit subject to the Company’s established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on an individual basis for major clients. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in note below. The Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and has been rated highly by credit rating agencies.

Financial instruments and cash deposits

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. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure to make payments.

The Company’s maximum exposure to credit risk for the components of the Balance Sheet at reporting dates are the carrying amounts as illustrated in note below.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:

8 First time adoption of Ind AS

As stated in note 1, the financial statements for the year ending 31 March 2018 would be the first annual financial statements prepared in accordance with Ind AS.

The adoption was carried out in accordance with Ind AS 101 using Balance Sheet as at 1 April 2016 as the transition date. The transition was carried out from Indian GAAP, which was considered as the Previous GAAP. All applicable Ind AS have been applied consistently and retrospectively, wherever required except for exceptions and exemptions mentioned below. The resulting difference between the carrying amounts of the assets and liabilities in the financial statements under both Ind AS and Indian GAAP as of the transition date are recognized directly in equity (Retained Earnings) at the date of transition to Ind AS.

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending on or after 1 April 2016, together with the comparative period data as at 31 March 2017.

This note explains the principal adjustments made by the Company in restating its Indian GAAP financial statements, including the opening Balance Sheet as at 1 April 2016, the financial statements for the year ended 31 March 2017.

(i) Exemptions from retrospective application:

Deemed cost exemption

The Company has elected to continue with the carrying value for all of its property, plant and equipment and intangible assets as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and used it as its deemed cost as at the date of transition.

(ii) Exceptions from full retrospective application:

Estimates exception

Upon an assessment of the estimates made under Previous GAAP, the Company has no necessity to revise such estimates under Ind AS.

Footnotes to the reconciliation of equity as at 1 April 2016, 31 March 2017 and profit or loss for the year ended 31 March 2017

1) Investments in National Saving Certificates

The company had made Investments in National Saving Certificates before the date of Transition and were carried at their initial amount in Financials as per IGAAP. Now, under Ind AS, such Investments in National Saving Certificates have now been shown at their Present value by calculating Internal Rate of Return taking into consideration the maturity amount of such investments. Therefore, Such Investments have been shown at their computed present values and difference has been shown under Reserves and Surplus as Interest on National Saving Certificates.

2) Security Deposits

Under Indian GAAP, the security deposits paid for lease rent are shown at the transaction value whereas under Ind AS, the same are recognised initially at fair value and subsequently recorded at amortized cost. Accordingly, the difference between the transaction value and fair value of the security deposits paid towards lease rent is recognized as deferred lease rent and is amortized over the period of the lease term on straight line basis as rent expense. Further, interest is accreted on the fair value of the security deposits and interest income is recognised over the tenure of security deposit.

3) Statement of cash flows

The transition from Indian GAAP to Ind AS has not had a material impact on the statement of cash flows.

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Mar 31, 2015

1. SHARE CAPITAL

a) Terms/Rights attached to Securities :

1) The Company has only one class of Equity Shares having a par value of Rs.10/- per share. Each holder of Equity Share is entitled to one vote per share.

In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by shareholders.

2) Other Notes to Accounts

i. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realizable in ordinary course of business and will not be less than the amount at which these are stated in the Balance Sheet.

ii. Deferred Tax Assets for the year of Rs.9023/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards18 issued by the Institute of Chartered Accountants of India are :

a. Contingent Liabilities

b. The Income Tax demand of f 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

c. The figures have been rounded off to the nearest thousands of rupees upto two decimal places. Previous year figures have been regrouped/ reclassified wherever necessary to make them comparable with the current year figures.

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Mar 31, 2014

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 8439/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

a. Remuneration to Key Management Personnel:

( Rs. In 000''s)

Particulars Designation Remuneration

Mr. Aditya Venketesh Executive Director 25.00

Mr. Vishnu Gupta Executive Director 206.36

Mr. Yogesh Goyal Executive Director 248.20

b. Auditors Remuneration

Payment to auditors (including service tax) comprises of the following:

( Rs. in 000''s)

Particulars Year Ended March Year Ended March 31, 2014 31, 2013

As Statutory Audit Fees 15.00 15.00

As Tax Audit Fees 10.00 10.00

Service Tax 3.09 3.09

Total 28.09 28.09

iv. Foreign Currency Transaction

Foreign currency transactions are recorded at rates of exchange prevailing on the dates of the respective transaction.

( Rs. In 000''s)

Particulars Year Ended March Year Ended March 31st, 2014 31st, 2013

Foreign Currency Expenditure 476.32 NIL

v. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India are :

vi. Earnings Per Share:

Particulars Year Ended Year Ended March 31st, 2014 March 31st, 2013

Net Profit/(Loss) for the year Rs. 8399090/- Rs. 75,40,350/-

Weighted Number of Equity Shares 5,07,20,600 5,07,20,600

Nominal Value per Share RS. 10 Rs. 10

Earnings Per Share (Basic) 0.17 0.15

vii. Contingent Liabilities

The Income Tax demand of Rs. 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

viii. The figures have been rounded off to the nearest thousands of rupees upto two decimal places.

ix. Previous year figures have been regrouped/reclassified wherever necessary to make them comparable with the current year figures.

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Mar 31, 2013

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs.12,290/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Contingent Liabilities

The Income Tax demand of Rs. 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

v. The figures have been rounded off to the nearest thousands of rupees upto two decimal places. The figure 0.00 wherever stated represents value less than Rs. 500/-.

vi. Previous year figures have been regrouped/reclassified wherever necessary to make them comparable with the current year figures.

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Mar 31, 2012

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realizable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 9121/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India:

v. Earnings Per Share

Calculation of Earnings per Share in accordance with the Accounting Standards 20 "Earning Per Share" issued by the Institute of Chartered Accountants of India, considering the weighted number of Equity Shares outstanding during the year:

*Book stock of c coal is considered in the accounts where the variance between book stock and measured stock is upto /- 5% and in case where the variance is beyond / - 5% the measured stock is considered. Such stock are valued at net realizable value or cost whichever is lower.

vi. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

vii. Previous year's figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.

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Mar 31, 2011

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 11971/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India:

v. Earnings Per Share

Calculation of Earnings per Share in accordance with the Accounting Standards 20 "Earning Per Share" issued by the Institute of Chartered Accountants of India, considering the weighted number of Equity Shares outstanding during the year:

viii. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

ix. Previous year's figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.

x. Schedule 1 to 10 forms an integral part of accounts and has been duly authenticate.

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Mar 31, 2010

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 6892/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

v. Previous years figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.

vi. Schedule 1 to 9 forms an integral part of accounts and has been duly authenticate.

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Mar 31, 2009

(i) In In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

(ii) Additional information pursuant to part II of Schedule VI to Companies Act 1956, to the extent applicable is as under: -

(i) Foreign Exchange earnings during the year - NIL

(ii) Expenditure in Foreign Currency - NIL

(iii) Segment Reporting:

In the opinion of the company management, the operations of the company are considered as single segment, hence AS-17 on Segment Reporting notified by Central Government is considered not applicable.

(iv) Deferred Tax Assets:

Provision for Deferred Tax Assets under AS-22 has not been recognised by way of prudence as in the opinion of company management there is reasonable uncertainty of future income which may be available for its adjustment.

(v) Figures of the Loans & Advances are shown as per balances confirmed by the Management as the confirmations from the parties are not received.

(vi) During the year the company has changed the Main object of the company, accordingly They have taken Mines on Lease.

(vii) The Company has developed mines during the year in north east part of the country to extract coal and lime stones. The capital Expenditure Incurred towards Development of mines are written off over the lease period.

(viii) Previous year figures have been regrouped and rearranged, wherever found necessary, to conform to the Current years classification.

(ix) Schedule 1 to 8 form an integral part of the balance sheet and profit and loss account.