Notes to Accounts of Aatmaj Healthcare Ltd.

Mar 31, 2025

Reason for Variance more than 25%

1. Current ratio has been decreased during the year mainly short term borrowing from the bank has been increased.

2. Debt - Equity ratio has been increased during the year mainly company is relying more on bank finance its operations rather than using its own resource.

3. Debt service coverage ration has been reduced due to increase in short term debt during the year.

4. Return on equity ratio has been reduce due to increase short term debt of the company during the year.

17. Utilisation of Borrowed funds and share premium:

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party") with the understanding (whether recorded in writing or otherwise) that the company shall -

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

18. Undisclosed Income:

The Company does not have any transaction not 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 Act, 1961 (such as, search or survey or any other relevant provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the books of account during the year.

19. Details of Crypto Currency or Virtual Currency:

The Company has neither traded nor invested in Crypto currency or Virtual Currency during the financial year ended March 31, 2025. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

20. A company is not declared willful defaulter by any bank or financial institution or other lender.

21. A company does not hold any benami property.

22. Utilisation of Borrowed funds :

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or

any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party") with the understanding (whether recorded in writing or otherwise) that the company shall -

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

25. Other Notes :

i) The management has confirmed that adequate provisions have been made for all the know

and determined liabilities and the same is not in excess of the amounts reasonably require to be provided for.

ii) The balances of trade payables, trade receivables, loans and advances are unsecured .

considered as good are subject to confirmations of respective parties concerned.

iii) The Company do not have any transactions with companies struck off.

26. The figures of previous year have been re-arranged and regrouped wherever necessary to make them comparable with those of the current year.

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Mar 31, 2024

Other Notes :

i) The management has confirmed that adequate provisions have been made for all the known and determined liabilities and the same is not in excess of the amounts reasonably required to be provided for.

ii) The balances of trade payables, trade receivables, loans and advances are unsecured and considered as good are subject to confirmations of respective parties concerned.

i ii) The Company do not have any transactions with companies struck off.

27. The figures of previous year have been re-arranged and regrouped wherever necessary to make them comparable with those of the current year.

1. The Company applied to National Stock Exchange of India Limited ("NSE") for in-principle approval for listing its equity shares on the Emerge Platform of the NSE. National Stock Exchange of India Limited has, vide its letter dated June 1, 2023 granted it''s In Principle Approval to the Company. The Company had filed Prospectus to the Registrar of the Company, Ahmedabad on June 13, 2023.The Public Issue was opened on Monday, June 19, 2023 and closed on Wednesday, June 21, 2023. The Basis of Allotment was finalized by Company, Registrar to the issue and Merchant Banker in consultation with the NSE on June 26, 2023, company has allotted 64,00,000 equity shares of ? 5 each for cash at price of ? 60 each (including a security premium of ? 55 per equity shares). The Company applied for listing of its total equity shares to NSE and it has granted its approval vide its letter dated June 28, 2023. The trading of equity shares of the Company commenced w.e.f. June 30, 2023 at Emerge Platform of National Stock Exchange of India Ltd. (NSE). The IPO related expenses have been debited to the share premium account and the IPO proceeds which are not utilised till the date of balance sheet has been kept in the form of FDR in the bank.

(1) Axis Bank Limited has renewed credit facilities of ? 944.99 Lacs, @ 9.15% p.a. which comprises of ? 500.00 lacs overdraft facilities and ? 444.99 drop line overdraft facilities, respectively against mortgaged of the land and hospital building of the company during the year.

(2) Kotak Mahindra Bank Limited has sanctioned Overdraft facilities of ? 108.00 lacs @ 7.70% p.a. against the fixed deposit of ? 120.00 lacs during the year.

*The Company has the process of identification of ''suppliers'' registered under the Micro, Small and Medium Enterprises Development (''MSMED'') Act, 2006, by obtaining confirmations from all suppliers. The Company has not received intimation from any of the ''suppliers'' regarding their status under MSMED Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year-end together with interest paid/payable as required have not been furnished.

*The Company has the process of identification of ''suppliers'' registered under the Micro, Small and Medium Enterprises Development (''MSMED'') Act, 2006, by obtaining confirmations from all suppliers. The Company has not received intimation from any of the ''suppliers'' regarding their status under MSMED Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year-end together with interest paid/payable as required have not been furnished.

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Mar 31, 2023

13. Provisions:

A provision is recognized when there exists a present obligation as a result of past events and 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. Provisions are not discounted to present value and are determined based on best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

14. Contingent liabilities:

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably, the Company does not recognize a contingent liability but discloses its existence in the financial statements.

15. Cash and cash equivalent:

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short-term deposits with banks with an original maturity of three months or less.

Reason for Variance more than 25%

1. Current ratio has been increased during the year mainly trade receivable has been increased.

2. Debt - Equity ratio has been increased during the year mainly company has increased debt from the bank or financial institute for its operations.

3. Debt service coverage ration has been reduced due to repayment of loan is fast and instalment amount is high.

4. Return on equity ratio has been reduce due to increase paid up capital of the company during the year by issue bonus share to the promoters and splitting the share value for Rs. 10 to Rs. 5.

5. Inventory turnover ration has been decreased in the current year mainly due to purchase of covid vaccines in previous year.

6. Trade receivable ratio has been increased due to credit period increased in government payment and insurance payment.

7. Trade payable turnover ratio has been decreased in the current year mainly due to purchase of covid vaccines in previous year.

8. Net Profit Ration: Not Applicable.

9. Return on capital employed has been reduced due to increase the debt during the current year.

10. Return on Investment: Not Applicable.

17. Utilisation of Borrowed funds and share premium:

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party") with the understanding (whether recorded in writing or otherwise) that the company shall -

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

18. Undisclosed Income:

The Company does not have any transaction not 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 Act,

1961 (such as, search or survey or any other relevant provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the books of account during the year.

19. Details of Crypto Currency or Virtual Currency:

The Company has neither traded nor invested in Crypto currency or Virtual Currency during the financial year ended March 31, 2023. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

20. A company is not declared wilful defaulter by any bank or financial institution or other lender.

21. A company does not hold any benami property.

22. Utilisation of Borrowed funds :

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party") with the understanding (whether recorded in writing or otherwise) that the company shall -

i) The management has confirmed that adequate provisions have been made for all the known and determined liabilities and the same is not in excess of the amounts reasonably required to be provided for.

ii) The balances of trade payables, trade receivables, loans and advances are unsecured and considered as good are subject to confirmations of respective parties concerned.

i ii) The Company do not have any transactions with companies struck off.

26. The figures of previous year have been re-arranged and regrouped wherever necessary to make them comparable with those of the current year.

In terms of our attached report of even date

For Bela Mehta & Associates For Aatmaj Healthcare Limited

Chartered Accountants (Formerly Known as Aatmaj Healthcare Private Limited)

FRN: 0101073W

Shital S Parikh Tushar Suvagiya Jignasa Suvagiya Pratik Gandhi

(Partner) (Managing Director) (Whole-time Director) (CFO)

M No.121609 (DIN: 06802410) (DIN: 09702789)

UDIN: 23121609BGUXBN1104

Date: 29.08.2023 Place: Vadodara