Notes to Accounts of Agribio Spirits Ltd.

Mar 31, 2025

i. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources. Contingent Liabilities are disclosed when the company has possible
obligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets are
neither recognized nor disclosed in the financial statements.

j. INVESTMENTS

The Company has elected to recognize changes in Investments at Fair Value through Other Comprehensive Income (FVTOCI) as
per IND AS 113 read with IND AS 109 and IND AS 32.

The profit and loss arrived at on fair valuation has been accounted for Other Comprehensive Income.

For the purpose of Fair Value, the Quoted Equity Shares have been taken at the prevailing Market Price of the Stock Exchange at the
closing hours as on 31 st March 2020.

For the purposes of Fair Value of Unquoted Equity Shares, the fair value has been computed as per the Audited Financials of 31st March
2020 as the financials for the year ended 31st March 2021 were not available.

k. EMPLOYEE BENEFITS

i. Gratuity:

The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company
is eligible for such benefits during the year.

ii. Provident Fund:

The provisions of the Employees Provident Fund are not applicable to the company since the number of employees
employed during the year were less than the minimum prescribed for the benefits.

iii. Leave Salary:

In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law
governing the establishment.

l. IMPAIRMENT OF ASSETS

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable
amount. An asset’s recoverable amount is the higher of an assets or cash-generating unit’s (CGU) fair value less costs of
disposal or its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other assets or group of assets. When the carrying amount of an
asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable
amount. Impairment losses, are recognized in the statement of profit and loss. Intangible assets with indefinite useful lives
are tested for impairment annually, as appropriate and when circumstances indicate that the carrying value may be
impaired.

m. BORROWING COST

Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. All
other borrowing costs are charged off to revenue.

A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.

n. DEFERRED REVENUE EXPENDITURE

Miscellaneous Expenditure are written off uniformly over a period of 5 years.

o. INCOME TAX

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the
reporting date. Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss
(either in other comprehensive income or in equity). Management periodically evaluates positions taken in the tax returns
with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where
appropriate. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognized
amounts, and it is intended to realize the asset and settle the liability on a net basis or simultaneously.

Deferred tax

Deferred tax is provided on temporary differences between the tax bases of assets and liabilities and their carrying amounts
for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary
differences. Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are recognized to the extent that 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 tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset
to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it
has become probable that

future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the
tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and
tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognized
outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity).

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against
current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

Nature and purpose of reserve
Retained Earnings

Retained earnings represents cumulative profits of the company and effects of remeasurement of defined benefit obligations.
This reserve can be utilized in accordance with the provisions of Companies Act, 2013.

General Reserve

General reserve is reserve created out of profits of the company for the purpose.

Other Comprehensive Income

The Company has elected to recognize changes in the fair value of certain investments in equity securities in other
comprehensive income. This is accumulated balance on account of fair value of investments. The company transfers amount
from this reserve to retained earnings when the relevant equity securities are derecognized.

Note ’31’ :

The previous year''s figures have been regrouped, rearranged and reclassified wherever required to conform to
current year''s classification.

In terms of our report of even date attached

For R P Khandelwal & Associates For and on behalf of the Board of Directors

Chartered Accountants

FRN : 001795C Sd/- Sd/-

Ratan Singh Ashutosh Bajoria

Managing Director Director

Sd/- DIN : 06818520 DIN:01399944

Chhavi Bengani
Partner

Membership No : 414142

UDIN: 25414142BMIUSJ8042 Sd/- Sd/-

Place : JAIPUR Gaurav Somani Madhuri Dhanopia

Date : 30TH MAY 2025 CFO Company Secaratry

---

Mar 31, 2024

i. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are disclosed when the company has possible obligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets are neither recognised nor disclosed in the financial statements.

j. INVESTMENTS

The Company has elected to recognize changes in Investments at Fair Value through Other Comprehensive Income (FVTOCI) as per IND AS 113 read with IND AS 109 and IND AS 32.

The profit and loss arrived at on fair valuation has been accounted for Other Comprehensive Income.

For the purpose of Fair Value, the Quoted Equity Shares have been taken at the prevailing Market Price of the Stock Exchange at the closing hours as on 31st March 2024.

For the purposes of Fair Value of Unquoted Equity Shares, the fair value have been computed as per the Audited Financials of 31st March 2023 as the financials for the year ended 31st March 2024 were not available.

k. EMPLOYEE BENEFITS

i. Gratuity:

The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company is eligible for such benefits during the year.

ii. Provident Fund:

The provisions of the Employees Provident Fund are not applicable to the company since the number of employees employed during the year were less than the minimum prescribed for the benefits.

iii. Leave Salary:

In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law governing the establishment.

l. IMPAIRMENT OF ASSETS

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal or its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment losses, are recognised in the statement of profit and loss. Intangible assets with indefinite useful lives are tested for impairment annually, as appropriate and when circumstances indicate that the carrying value may be impaired.

m. BORROWING COST

Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. All other borrowing costs are charged off to revenue.

A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.

n. DEFERRED REVENUE EXPENDITURE

Miscellaneous Expenditure are written off uniformly over a period of 5 years.

o. INCOME TAX

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date. Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognised amounts, and it is intended to realise the asset and settle the liability on a net basis or simultaneously.

Deferred tax

Deferred tax is provided on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that 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 tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity).

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

Note 28:

^a The Company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding any benami property

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

^c The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or

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

^d 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:

(a) 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

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

^e The Company does not have any such transaction which is 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.

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

g The Company is not declared willful defaulter by and bank or financial institution or lender during the year.

h The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory per

¹ Periodical returns or statements of current assets filed by the Company with banks or financial institutions are in

j The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was obt

^k The title deeds of all the immovable properties, (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the financial statements included in property, plant and equipment and capital work-in-progress are held in the name of the Company as at the balance

l The Company does not have any transactions with companies which are struck off.

m Company is not covered by the Section 135 of the Companies Act, 2013, dealing with the ''Corporate Social Responsibili

Note ''29'' :

The previous year''s figures have been regrouped, rearranged and reclassified wherever required to conform to current year''s classification.

In terms of our report of even date attached

For R P Khandelwal & Associates For and on behalf of the Board of Directors

Chartered Accountants

^FRN : ^001795C Sd/- Sd/-

Puja Bajoria Pankaj Sharma

Managing Director Di_recto_r

Sd/_- DIN : 07018123 Din : 09512492

Chhavi Bengani

^Par,ner Sd/- ^Sd/-

Membership No : 414142 Suman Agrawal Versha Goyal

UDIN: 24414142BKEKPK9479 CFO Company Secretary

Place : JAIPUR

Date : 30TH MAY 2024