Notes to Accounts of BEML Land Assets Ltd.

Mar 31, 2025

B. Provisions:

Provisions are recognized 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.

Contingent liabilities and contingent assets are not recognized in the financial
statements but are disclosed in the notes.

C. Cash and cash equivalents:

Cash comprises of cash on hand and demand deposits. Cash equivalents are short-term
highly liquid investments with original maturities of three months or less that are readily
convertible to known amounts of cash, which are subject to an insignificant risk of
change in value.

D. Financial Liabilities:

Recognition and measurement:

Financial liabilities are classified, at initial recognition, at fair value through statement
of profit and loss as loans, borrowings, payables or derivatives, as appropriate.

E. Events after the reporting period:

Adjusting events are events that provide further evidence of conditions that existed at
the end of the reporting period.

The financial statements are adjusted for such events before authorization for issue.
Non-adjusting events are events that are indicative of conditions that arose after the
end of the reporting period. Non-adjusting events after the reporting date are not
accounted, but disclosed.

F. Investment Property:

Investment properties are stated at cost less accumulated depreciation and accumulated
impairment loss if any. The fair value of the investment property is disclosed in the notes

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

For N.Tatia & Associates

Chartered Accountants

Firm Registration Number: 011067S

Sd- Sd- Sd—

Nidhi Tatia K.MASILAMANI SHANTANU ROY

Partner Chief Financial Officer Chairman and Managing Director

Membership No.: FCA 061355 (DIN 10053283)

Date : 30.04.2025 Sd-

Place: Bengaluru RAVISEKHAR RAO S V

UDIN: 25061355BMIXQP4810 Company Secretary & Compliance Officer

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Mar 31, 2024

Note 11 A: Other Disclosures

1. The Company''s Equity shares have been listed in the Stock Exchanges viz BSE/NSE on 19th April 2023.

2. The Accounts of the Company has been prepared in accordance with Ind AS.

3. The Investment Property (Land & Buildings) has been valued at Cost and difference between Cost of Acquisition & Equity Share Capital has been adjusted against Retained Earnings.

4. The amounts paid by BEML Ltd on behalf of BLAL has been treated as Inter-Corporate Loan and interest on the same has been applied as approved by BEML & BLAL Board.

5. There are no permanent employees in the rolls of the Company and hence no actuarial valuation has been done for the FY 2023-24.

INDIAN ACCOUNTING STANDARD (IndAS) 37 - PROVISION CONTINGENT LIABILITIES AND CONTINGENT

ASSETS

There are no claims for which the Company is contingently liable as on 31.03.2024 (PY nil)

AGGREGATE AMOUNT OF RESEARCH AND DEVELOPMENT EXPENSES

There are no R&D expenditure incurred during the year (PY NIL)

INDIAN ACCOUNTING STANDARD (IndAS) 108 Operating Segments - not applicable

INDIAN ACCOUNTING STANDARD (Ind AS) 116 LEASES

There are no Operating or Financial Lease arrangements in the Company

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Mar 31, 2023

1. As per Schedule - 1 of the Scheme of Arrangement for Demerger, land parcels & immovable assets (Buildings) have been transferred at Book Value from BEML to BLAL on the appointed date of demerger i.e., 25.08.2022.

2. The land and buildings have been classified under "Investment Property" as per Ind AS 40.

3. Depreciation on buildings has been provided based on the original capitalization dates of the individual assets as per the rates recommended under Companies Act, 2013.

4. Cost model has been adopted for valuation of Investment properties under Ind AS 40. Management has initiated the process of calculation of fair value of Land & buildings. The Market Valuation of the Land & buildings as on date of consideration and declaration of the financial results by the Board of Directors, has been assessed through a registered valuer and valued at ? 232537 lakhs.

6. Out of Land parcels of 401.356 acres at Mysore as per Schedule 1 of scheme of arrangement identified for demerger, the unused portion of Township Land has been retained in BEML books and 302.284 acres have been transferred to BLAL. In respect of Land at Mysore only possession certificates are available. Registration is under process.

7. The transfer of title from BEML to BLAL is under progress. As per amended Indian Stamp Act (Sec 8g), Stamp Duty charges are exempted. Registration Fees, if applicable, will be paid and accounted during registration.

8. Straight Line method is used for calculating depreciation of Buildings. Useful life is considered as 60 years.

9. Property Taxes for the assets have been paid by BEML presently. The related expenses will be transferred to BLAL.

Note 11: Other Disclosures

1. The Equity share capital of Rs 1,00,000/- has been cancelled and transferred to capital reserve in line with the scheme of arrangement. Further, the authorized Share capital of the company has been increased to Rs 50 crores of Equity Shares of face value of Rs 10 each.

2. The company has issued Equity shares in BLAL to the shareholders of BEML in the ratio of 1:1, based on the record date 9th September 2022 as per the MCA approved Scheme of arrangement. Issued & Paid up Equity Share Capital is Rs. 4164.45 Lakhs consisting of 416.445 lakhs shares @ Rs. 10 each.

3. The Company''s Equity shares have been listed in the Stock Exchanges viz BSE/NSE on 19th April 2023.

4. The Accounts of the company has been prepared in accordance with Ind AS.

5. The Investment Property (Land & Buildings) has been valued at Cost and difference between Cost of Acquisition & Equity Share Capital has been adjusted against Retained Earnings.

6. The amounts paid by BEML Ltd on behalf of BLAL has been treated as Inter-Corporate Loan and interest on the same has been applied as approved by the BEML & BLAL Board.

7. No rental Income has been earned on the Investment property during the current period.

8. There are no permanent employees in the rolls of the company and hence no actuarial valuation has been done for the FY 2022-23.

9. Pursuant to observation by C&AG under section 143(6)(b) of the Companies Act 2013, the financial statements approved by the Board of Directors on 23.05.2023 was revised. Some additional disclosures under note 1 - Investment property have been added (Point 6 to 9). There is no impact on the profit of the company due to these changes.

E. Indian Accounting standard (Ind AS) 37 - Provisions, Contingent Liabilities and Contingent Assets:

Contingent liabilities

There are no claims for which the company is contingentally liable as on 31.03.2023 (Previous year - NIL).

F. Aggregate amount of Research & Development Expenses:

There are no R&D Expenditure incurred during the year (Previous year - NIL).

G. Indian Accounting standard (Ind AS) 108 - Operating Segments - Not Applicable

The Company has not disclosed the fair values for financial instruments, because their carrying amounts are a reasonable approximation of fair value.

K. Financial risk management - Not Applicable

L. Capital Management - Not Applicable

M. There are no operations in the company presently hence, CSR provisions are not applicable.

N. The company''s contribution to central and state Exchequers were to the order of Rs 1.23 Lakhs during the year by way of GST, TDS and Professional Tax (Previous year - NIL).

P. The company has not traded in Crypto Currency or virtual currencey in the current Financial year 2022-23