Notes to Accounts of Asarfi Hospital Ltd.

Mar 31, 2025

(ii) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares of face value of ^10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Extension of Equitable Mortgage over Land & Building in the name of the Company has given as a Primary Security ,having Tittle Deed - 6644 dt 28.07.2006 & Tittle Deed - 4026 dt 17.04.2009 .

Extension of Equitable Mortgage over Land & Building in the name of the Company has given as a Collateral Security ,having 1.Tittle Deed - 9937 dt 15.10.2007 2. Tittle Deed - 8117 dt 16.09.2006 3. Title Deed - 10330 dt 28.11.2006 4. Tittle Deed - 9375 dt 30.07.2009 5. Tittle Deed - 8443 dt 24.07.2009 .

Beyond above Personal Guarantee of Shareholders & Directors has given namely: 1. Harendra Singh 2. Sukanti Kumar Das 3. Madhuri Singh 4.Nayan Praksah Singh 5.Nitu Singh 6.Gopal Singh 7. Udai Pratap Singh.

Moratorium Period of above Term Loan is till 31/03/2023 and EMI will start from 01/04/2023.

Loan taken from HDFC Bank an amount of Rs 28,50,00,000/- under LGSCAS Scheme issued by the Ministry of Finance through the (NCGTC) for the purpose of Procurement of Healthcare Equipment for Cancer Unit Situated at Ranguni Dhanbad having tenor 108 Months including Moratorium of 12 Months.

During the year, Company has taken term loan from SBI Bank for which Hypothecation of Plant & Machinery proposed to be purchased has been given as primary security

Extension of Equitable Mortgage over Land & Building in the name of the Director Smt Madhuri Singh & Sri Harendra Singh has given as a Collateral Security ,having 1.Tittle Deed - 9375 dt 30.07.2009 2. Tittle Deed - 8443 dt 24.07.2009

Moratorium Period of above Term Loan is 06 Months and EMI will start from 01/04/2025.

Hypothecation of Plant & Machinery proposed to be purchased out of Bank Finance has also given as a Primary Security .

Extension of Equitable Mortgage over Land & Building in the name of the Company has given as a Collateral Security ,having 1.Tittle Deed - 1558 dt 20.02.2008 2. Tittle Deed - 4842 dt 23.05.2007 .

Term Loan Security Details:

Extension of Equitable Mortgage over Land & Building in the name of the Company has given as a Primary Security ,having 1.Tittle Deed - 6644 dt 28.07.2006 2. Tittle Deed - 4026 dt 17.04.2009.

Moratorium Period of above Term Loan is till 31/03/2023 and EMI will start from 01/04/2023.

During the year, Company has taken term loan from SBI Bank for which Hypothecation of Plant & Machinery proposed to be purchased has been given as primary security

Investment in Equity Shares of Asarfi Educational Foundation -Wholly owned Subsidiary :-

There is decline in the value of Investment in Subsidiary i.e Asarfi Educational Foundation to zero Value as the Net worth of Asarfi Educational Foundation is negetive since it has not able to generate revenue till 31.03.2025, and it has incurred losses during the current financial year as well as during FY 2023-24,however it is actively working to generate the revenue and surplus, based on the Activity report of the Asarfi Educational Foundation it can be resonably considered that the decline in the Value of Investment in Equity Shares of Subsidiary is temporary and not parmanent decline.

General Description of the Plan

The Entity operates gratuity plan wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Entity''s scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.

Reasons for Variances

1. Current Ratio - Ratio increased by 38.57% mainly due to increase in Sundry Debtors during the year.

2. Debt Equity Ratio- Ratio Increased by 31.64% due to increase in Borrowings from the bank during the year.

3. Return on Equity Ratio - Ratio increased by 92.74% due to increase in Profit during the year.

4. Net Capital Turnover Ratio - Ratio decreased by 90.04% due to increase in Closing Working Capital.

7. Net Profit ratio - Ratio increased by 82.47% due to increase in turnover and profit and during the year.

8. Return on Capital Employed - Ratio increased by 64.58% due to increase in Earnings before Interest and taxes.

9. Return on investment - Ratio increased by 125.52% due to increase in profit.

Nature of CSR activities

1. The company has provided treatment to an Orphan child, free of cost amounting to Rs 81875/-

2. The company has donated a sum of Rs 30000/- towards the Tribals Cultural Society

3. The company has donated Rs 1364680/- for setting up of cancer research labaratory to Asarfi Charitable Trust in the FY 2024-25

43 Other Statutory Disclosures as per the Companies Act, 2013

1 No title deeds of Immovable Property not held in name of the Company

44 Regrouping

Previous Years figure has been regrouped/rearranged/rephased whereever necessary to make them comparable.

45 Details of Benami Property held

The company does not hold any benami property

46 Wilful Defaulter

The company has not been declared as a wilful defaulter by RBI or financial statement

47 Investment in Crypto Currency or Virtual Currency

Company has not invested in Crypto Currency or Virtual Currency.

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48 Provision For Gratuity

Provision for Gratuty (Current & Non-current) has been made on the basis of Actuarial Valuation Report.

49 Other Disclosures

Earlier in the past year, the company''s land acquired from JIADA, went under dispute. Now, As per the order of the High Court of Jharkhand, On 07.03.2025 vide order No. 85 Hon''ble High Court has been pleased to delete the name of the company from the array of parties from the on - going civil litigation bearing First Appeal Case No- 43 of 2012. Pursuant to this order of the High Court of Jharkhand, any decision in the case will not be binding on the company.

Mar 31, 2024

p. Provisions, Contingent liabilities and Contingent assets -

A provision is recognized when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognized in financial statements.

A contingent asset is neither recognized nor disclosed in the financial statements."

q. Cash and cash equivalents-

Cash and Cash Equivalents include Cash, Cheque in hand, Bank Balance, Bank D/pj^tT^~^\ with balance maturity is up to 12 months â ''

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r. Cash Flow Statement -

Cash Flow are reported using the indirect method as prescribe under AS 3: "Cash flow statement" whereby the profit before tax is adjusted for the effect of the transaction of the non-cash nature, any deferrals or accruals of past and future operating cash receipts or payments and items of income or expenses associated with investing or financing cash flow. The cash flows from operating, investing, and financing activities of the company are segregated.

s. Related party transaction: -

Parties are considered to be related if at any time during the reporting period one party has the ability to control the other party or exercise significant influence over the other party in making financial and/or operating decisions as per AS 18 and section 2(76] of the company act 2013.

t. Segment Reporting -

A reportable segment is identified as a business segment, or a geographical segment identified on the basis of foregoing definitions for which segment information is required to be disclosed as per AS 17 "Segment Reporting.

A business segment or geographical segment is identified as a reportable segment if: (a) its revenue from sales to external customers and from transactions with other segments is 10 per cent or more of the total revenue, external and internal, of all segments; or (b) its segment result, whether profit or loss, is 10 per cent or more of - (i) the combined result of all segments in profit, or (ii) the combined result of all segments in loss, whichever is greater in absolute amount; or (c) its segment assets are 10 per cent or more of the total assets of all segments.

u. Subsequent Event-

Events which occur between the balance sheet date and the date on which the financial statements are approved, may indicate the need for adjustments to assets and liabilities as at the balance sheet date or may require disclosure are identified to determine the impact on financial statements.

Adjustments to assets and liabilities are taken for events occurring after the balance sheet date that piovide additional information materially affecting the determination of the amounts relating to conditions existing at the balance sheet date.

39 Details of Benami Property held

No such assets held by the company at any time during the F.Y. 2023-24 or as on 31.03.2024

40 Wilful Defaulter

Date of declaration as wilful defaulter

The company has not been declared as wilful defaulter by any bank or financial institutiton or other lender.

41 Relationship with Struck off Companies

The company does not have any transactions with struck off companies.

42 Registration of Charge

1. Charge of SIEMENS FINANCIALS SERVICES PRIVATE LTD has not been satisfied as per MCA Portal which has already been closed.

2. The Company has register all it''s charges within time or extended time period given in the companies act 2013.

43 Compliance with number of layers of comapanies No such layer.

Disclosure under section 186{4) of the company Act. 2013:

Th^company has given a loan of Rs. 13.59 Lakh to its wholly owned subsidiary at zero interest cost for its development.

rcsr Asarfi HoMital Limited For Asarfi Ffespjt^ Limited yj

Reasons for variances by more than 25%

1. Current Ratio - Ratio Decreases by 29.80% mainly due to increases in trade payables at the end of the year.

2. Debt Service Covarage Ration - Ratio increase by 85.66% due to increase in earning available for debt service

3. Return on Equity Ratio - Ratio decreases by 69.67% due to increase in Average Shareholder''s Equity.

4. Trade Receivable Turnover Ratio - Ratio decreases by 35.49% due to increase in Trade Receivable

5. Trade Payable Turnover Ratio - Ratio decreases by 74.78% due to increase in huge amount of trade payables

6. Net Capital Turnover Ratio - Ratio increases by 169.87% due to decrease in Net Working Capital

7. Net Profit ratio - Ratio decreases by 55.98% due to increase in depreciation & finance costs

8. Return on Capital Employed - Ratio decreases by 58.14% due to increase in capital employed by issue of share capital & receive Land as

9. Return on investment - Ratio decreases by 68.78% due to decrease in profit & increase in investment â-

45 Disclosure where company has given loan or invested to other person or entity to tend or invest in another person or entAy-./

No such Loan given or Investment made during the year. (J

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46 Disclosure where company has received fund from other person or entity to lend or invest in other person or entity \

No such fund received. Ac$

47 Undisclosed Income

There is no undisclosed income. (Seepika

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Nature of CSR activities

1. The company has provided treatment to an Orphan child, free of cost amounting to Rs 94618/-

2. The company has donated a sum of Rs 35000/- towards the Tribals Cultural Society

3. The company has donated Rs 1572471/- for setting up of cancer research labaratory to Asarfi Charitable Trust.

49 Details of Crypto Currency

No such Currency held by the company at any time during the F.Y. 2023-24 or as on 31.03.2024.

50 Intangible Asset Under Development Ageing Schedule:

No Intangible Assets under Development as on 31.03.2024

51 Regrouping

Previous Years figure has been regrouped/rearranged/rephased whereever necessary to make them comparable.

52 Pi ovision For Gratuity

1. Provision for Gratuty (Current & Non-current) has been made on the basis of Actuarial Valuation Report.

53 Other Disclosures

1. The company has taken on lease a land of 9.55 acres for 30 Years from Jharkhand Industrial Area Development Authority (JIADA) for the

54 IPO Expenses & Utilisation

1. There is no material deviation in the use of proceeds of issue of 5180000 equity shares of face value of Rs 10/- each at an issue price of

2. The IPO Expenses of Rs 3,83,33,313 has been adjusted against security premium account.

3. Utilisation of Proceeds from IPO -

55 Weighted Average No of Equity Shares

Opening Number of Shares (01.04.2023) = 14497300 * 366 Days = 14497300 Shares Addition during the year (24.07.2023) = 51,80,000 * 251 days / 366 Days = 3552404 Shares Weighted Average No of Equity Shares (31.03.2024) = (14497300 3552404) = 18049704 Shares

As per our report of even date

For M/s R K THAKKAR & CO For _and _on behalf of the Board of

Chartered Accountants Asarfi Hospital Limited

^Flrm''⁵~"^N0 Â°Â°²⁶⁹⁰c For Asarfi HospitaUJmited For Asarfi Hospital Limited

MKDokania (UfflfiFfflSo''Stbgh) MaiiroSlitiUri Singh)

Membership No. 415931 0845379& 6562038

Place: Dhanbad Waiendra JHtfh Seepika Gupta

Date: 6JVlay^024 (Hsrcndra Singh) ,&> mpany Secretary

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