Notes to Accounts of Bikewo Green Tech Ltd.

Mar 31, 2025

a) Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per equity share. The dividend proposed by the Board of Directors, if any, 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.

Nature of Security and terms of repayment of secured borrowings

“ SBI Cash Credit loan was taken for the purpose of meeting the operating liabilities and to augment net Working capital.The Company has used such borrowings for the purposes as stated in the loan agreement.

- the loan is secured by hypothecation of entire Current assets of the Company both present and future of the Company and collateral security of Residential building owned by Satya poorna chander yalamanchili as mentioned in the sanction letter.

- Further, the loan has been secured by the Personal Guarantee of Mr. Y Sathya Poornachander Rao, Mr.T.Rama Mohan,Mr.Manideep Katepalli and Corporate Guarantee of M/s. MIC Electronics Limited.”

“ - Term loan from bank was taken during the financial year 2023-24 and carries interest @ 9.25% p.a. The loan is repayable in 36 instalments of Rs. 2,25,000 each along with interest, from the date of 23.11.2023. As per the Loan Agreement the said Loan was taken for the Purpose of meeting the operating liabilities and to augment net Working capital. The company has used such borrowings for the purposes as stated in the loan agreement.

- the loan is secured by hypothecation of entire Current assets of the Company both present and future of the Company and collateral security of Residential building owned by Satya poorna chander yalamanchili as mentioned in the sanction letter.

- Further, the loan has been secured by the Personal Guarantee of Mr. Y. Sathya Poornachander Rao, Mr.T.Rama Mohan,Mr.Manideep Katepalli and Corporate Guarantee of M/s. MIC Electronics Limited.

- Rate of Interest (%) 9.25% & no. of instalments after 6 Months but not more than 5 years - 36”

“Axis Bank Car loan was taken on during the f.y.2021-22 and carries [email protected]% P.A.The loan is repayable in 48 Months with EMI''s of Rs.2,28,177/- each

-HDFC Bank Car loan-597824 was taken on during the f.y.2021-22 and carries [email protected]% P.A.The loan is repayable in 60 Months with EMI''s of Rs.1,32,911/- each

-HDFC Bank Car loan-134850348 was taken on during the f.y.2022-23 and carries [email protected]% P.A.The loan is repayable in 60 Months with EMI''s of Rs.43,361/- each “

“As of 31.03.2025, all the aforementioned loans have been fully closed. Only the SBI Cash Credit facility has been renewed, with the sanctioned limit reduced from ?3.60 crores to ?1.50 crores”.

Note 31

Capital risk management

For the purpose of the Capital Management, capital includes issued equity capital, and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Capital Management is to maximize the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions, business strategies and future commitments. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, trade payables and borrowings, less cash and cash equivalents and other bank balances.

B Fair values hierarchy

The fair value of financial instruments as referred to in note (A) above has been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements] and lowest priority to unobservable inputs [Level 3 measurements].

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market;

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and

Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a net asset value or 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.

Financial risk management

The Company''s activities are exposed to a variety of market risk (including foreign currency risk and interest risk), credit risk and liquidity risk. The Company''s overall financial risk management policy focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company''s financial performance.

I Market Risk

Market rate is the risk that arises from changes in market prices, such as commodity prices, foreign exchange rates, interest rates etc. and will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimising returns.

a. Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Currently company not take any loan facility and use own fund for its business so interest risk is very low.

b. Foreign Currency Exchange Rate Risk

Company not do any transaction in foreign currency so company has no risk.

II Credit Risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in a loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults.

The Company performs on-going credit evaluation of its counterparties'' financial conditions. The Company''s major classes of financial assets are cash and bank balances, trade receivables, Security deposits, Advances to Suppliers and Employees, Unbilled Revenues and prepayments.

As at the reporting date, the Company''s maximum exposure to credit risk is represented by the carrying amount of each class of financial assets recognised in the statements of financial position.

As at the reporting date, substantially all the cash and bank balances as detailed in Note 7 to the financial information are held in major Banks which are regulated and located in the India, which management believes are of high credit quality.

III Liquidity Risk

Liquidity risk arises from the Company''s management of working capital. It is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due.

The Company has obtained fund based and non-fund based working capital credit facility from various banks. Company''s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. The principal liabilities of the Company arise in respect of the trade and other payables. Trade and other payables are all payable within 12 months.

The Company manages liquidity risk by maintaining adequate surplus, banking facilities and reserve borrowing facilities by continuously monitoring forecasts and actual cash flows.

The Company has a system of regularly forecasting cash inflows and outflows and all liquidity requirements are planned.

Forecast for trade and other payables is regularly monitored to ensure timely funding.

All payments are made within due dates.

The Board receives cash flow projections on a regular basis as well as information on cash balances.

Note 34 Segment Reporting

The company operates in Single Business Segment of of electric two wheeler retailer in India and Tour operator service provider. Accordingly disclosure requirements of Ind Accounting Standard 108 - Segment Reporting as notified under section 133 of the Companies Act, 2013 have not been Applicable.

Note 35 The company did not have any long term contracts including derivative contracts for which there were any material forseeable losses. The company does not have any unhedged foreign currency exposure as at March 31, 2025, March 31, 2024.

Note 36 CSR

The provisions of Corporate Social Responsibility (CSR) under section 135 of Companies Act 2013 is not applicable for the Company.”

Note 37 No Capital commitments or Contingent liabilities arised during the year.

Note 38 No subsidies or incentives received from the government for any project.

Note 39 There are no subsequent events either adjusting or non-adjusting which requires to be disclosed.

Note 43 Other Disclosures

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 does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

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

d. The Company have not traded or invested in Crypto currency or Virtual currency during the financial year.

e. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding 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.”

f. The Company have not 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).

Note 44 The Social Security Code, 2020

The Code on Social Security 2020 (''the Code'') relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued. The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

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Mar 31, 2024

h. Contingent Liability, Provisions and Contingencies

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of obligation. ^q °^f

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not
require an outflow of resources or where a reliable estimate of the obligation cannot be made. ^Y

Contingent assets are neither recorded nor disclosed in the financial statements.

i. Cash and Cash Equivalents

momhTor tes^{h E,UiVi}"^en‘^{S inC}''”^{de CaSh 0}" ^{ha,,Cl a}"^d “ ^ba"^k'' ™‘^{I Sh0B}-''™ -fePOsto with an original maturity period of three

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1. Corporate Information

BIKEWO GREEN TECH LIMITED Company, incorporated in India, having its registered office at Plot No.502B, Amara Jyothi
RoadNo.jl, Jubilee Hills, Hyderabad, Telangana 500033. The company is primarily engaged in the Sale of Electrical Vehicles &
Resale of Used Vehicles."

a. Basis of Preparation of Financial Statements

a) The financial statements have been prepared in accordance with generally accepted accounting principles in India (Indian
Accounting Standards) under the historical cost convention on an accrual basis in compliance with all material aspects of
the Indian Accounting Standards (AS) notified under section 133 of the Companies Act 2013, read together with Rule 7 of
the Companies (Accounts) Rules 2014. The accounting policies adopted in the preparation of financial statements have
been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy until now (hitherto) in use with those of previous year.

b) The financial statements have been prepared on accrual and going concern basis. The accounting policies are applied
consistently to all the periods presented in the financial statements.

c) All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and
other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of business and the time between
the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its
opeiating cycle as 12 months for the purpose of current and non-current classification of assets and liabilities.

2. Material Accounting Policies:

a. Revenue Recognition

Revenue on sale of products is recognised on delivery of the products, upon passing of title of goods and / or on transfer of significant
risk and rewards of ownership thereto.

Revenue from services rendered is recognised as the service is completed and for which there is certainty of ultimate collection
Interest Income is recognised in the profit and loss account on accrual basis.

b. Property, Plant & Equipment
Tangible Assets

Tangible assets are stated at cost, less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price
borrowing costs, if capitalization criteria are met and any cost attributable to bringing the assets to its working condition for its

-^Intended use which includes taxes, freight, and installation and allocated incidental expenditure during construction/ acquisition and-

exclusive of CENVAT /Input tax credit (IGST/CGST and SGST) or other tax credit available to the Company.

When parts of an item of tangible assets have different useful lives, they are accounted for as separate items (major components) of
property, plant and equipment. ^F ’

Subsequent expenditure relating to tangible assets is capitalized only if such expenditure results in an increase in the future benefits
trom such asset beyond its previously assessed standard of performance.

The useful life, residual value and the depreciation method are reviewed atleast at each year end. If the expectations differ from
pievious estimates, the changes are accounted for prospectively as a change in accounting estimate.

Intangible assets

An intangible asset is recognized when it is probable that the future economic benefits attributable to the asset will flow to the
enterprise and where its cost can be reliably measured. Intangible assets are stated at cost of acquisition less accumulated
amortization and impairment losses, if any. Cost comprises the purchase price and any cost attributable to bringing the assets to its
working condition for its intended use which includes taxes, freight, and installation and allocated incidental expenditure during

construction/ acquisition and exclusive of CENVAT/ Input tax credit (IGST/CGST and SGST) or other tax credit available to the
Company.

Subsequent expenditure^^^^^ngible assets is capitalized only if such expenditure results in an increa^f^^fe benefits
trom such asset bey on^^previStt^^/^essed standard of performance .-QA

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Tt°^U,^ntS °f ^aSSetS.^{are reviewed at eac}h balance sheet date if there is any indication of impairment based or
mtemal/external factors. An impairment loss is recognised wherever the carrying amount of an asset exceeds its recoverable amount
The recoverable amount is the greater of the assets’ net selling price and value in use. In assessing value in use, the estimated future
cash flows are discounted to their present value at the weighted average cost of capital.

After impairment, depreciation/amortization is provided on the revised carrying amount of the asset over its remaining useful life

c. Inventories

Raw materials Components, Consumables, stores and spares, and packing material are valued at lower of cost. However these
below Tost °^{nSldeied t0 56 real}''^{Sable at re}P^{lacement cost if the} finished goods, in which they will be used, are expected to be sold

Cost of Consumables, stores and spares are expensed in the year of purchase.

d. Taxes on Income

Tax expense for the period comprises of current tax and deferred tax.

fnTTmtnalAcTTiV³" ^ ^ ^ °^{f CStimated taxable income for the current} accounting year in accordance with the

Cui rent tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts
and there is an intention to settle the asset and the liability on a net basis.

^dT^bT^Cd ^ w ^til?ⁿf ^differe"^{ces b}fr^{Cn tHe b}°°^{k and t3X pr0fitS for the} >''^{ear is} accounted for, using the tax rates and laws
that have been substantively enacted as of the reporting date.

Defend tax charge or credit reflects the tax effects of timing differences between accounting income and taxable income for the

m’t?'' ^Thu ^defeiTed !,^{aX charge or credlt and the} corresponding deferred tax liabilities or assets are recognised using the tax rates
at have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognised only to the extent there
is reasonable certainty that the assets can be realised in future; however, where there is unabsorbed depreciation or cany forward of
losses, deferred tax assets are recognised only if there is a virtual certainty of realisation of such assets. Deferred tax assets are

the''cTe^nay⁶be) tobTrealiled ^ ** ^wntten''^{down or written U}P^{t0reflect the} amount that is reasonably/virtually certain (as

At each reporting date, the Company reassesses the unrecognized deferred tax assets, if any.

Minimum ahemate tax (MAT) paid in a year is charged to the Statement of Profit and Loss as current tax. The Company recognizes
credit available as an asset only to the extent that there is convincing evidence that the Company will pay nonnal income tax
during the specified period, i.e., the period for which MAT credit is allowed to be carried forward. In the year in which the company
recognizes MAT credit as an asset in accordance with the Guidance Note on Accounting for Credit Available in respect of Minimum
emative Tax under the Income-tax Act, 1961, the said asset is created by way of credit to the Statement of Profit and Loss and
shown as MAT Credit Entitlement.’ The Company reviews the “MAT credit entitlement” asset at each reporting date and writes
own the asset to the extent the company does not have convincing evidence that it will pay nonnal tax during the specified period.

e. Employee Benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetaiy benefits that are expected to be settled wholly within 12 months after the
end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end
of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are
presented as current employee benefit obligations in the balance sheet.

(ii) Defined contribution plans

The Company pays provident fund contributions to publicly administered provident funds as per local regulations. The Company
has no further payment obliMtims once the contributions have been paid. The contributions are accountetfec as defined
contribution plans and the contributions arc recognised as employee benefit expense when they are due.

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a. Functional and Presentation Currency

The financial statements are presented in Indian rupees (Rs.) or ? which is also the Company''s functional currency.All
the amounts stated in the financial statements are presented in Rs. Lakhs unless otherwise stated.

b. Accounting Estimates

The preparation of Financial Statements in conformity with Indian Accounting Standards (Ind AS) requires management of the
Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities as at the date of the Financial Statements and the results of operations during the reporting period. Although
these estimates are based upon management’s best knowledge of current events and actions, actual results could differ from those
estimates. Any revision to accounting estimates is recognised prospectively in the current and future periods. Examples of such
estimates include future obligations under employee retirement benefit plans, recognition of Deferred Tax Assets and useful lives
of Property, Plant & Equipment.

c. Current and non-current classification

The Company presents assets and liabilities in the balance sheet based on current and non-current classification.

An asset is current, when it satisfies any of the following criteria:

• It is expected to be realised or intended to sold or consumed in nonnal operating cycle;

• It is held primarily for the purpose of trading;

• It is expected to be realised within twelve months after the reporting period, or

• It is Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the
reporting period.

Current assets include the current portion of non-current financial assets. All other assets are classified as non-current."

"A liability is current when it satisfies any of the following criteria:

• It is expected to be settled in normal operating cycle;

• It is held primarily for the purpose of trading;

• It is due to be settled within twelve months after the reporting period; or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

Current liabilities include the current portion of non-current financial liabilities. All other liabilities are classified as non-current.

d. Borrowing cost

Borrowing costs are interest and other costs incurred in connection with the borrowing of funds. Borrowing costs directly attributable

_to acquisition or construction of an asset which necessarily take a substantial period of time to get ready for their intended use are_

capitalised as part of the cost of that asset. Other borrowing costs are recognised as expense in the period in which they are incurred.

e. Foreign currency translation

Initial recognition:

Foreign currency transactions are recorded in the reporting currency by applying the exchange rate between the reporting currency
and the foreign currency at the date of the transaction.

Conversion:

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical
cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction; non-monetary items which
are carried at fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that
existed when such values were determined.

Exchange differences:

Exchange differences arising on the settlement of monetary items or on reporting the Company’s monetary items at rates different
from those at which they were initially recorded during the year, or reported in previous financial statements, are recognised as
income or as expenses in the year in which they occur.

Forward Exchange Contracts:

The Company uses foreign^^ra^fe^rward contracts derivative instruments to hedge its exposure on acco^Coft''moVeHrehts in
foreign exchange. These^^atrve^ef^enerally entered with banks and not used for trading or speculationpurposgsNTHese
derivative instruments affcapcounted asYBttaws: Wc • A''Aojn

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For forward contracts which are entered into to hedge the foreign currency risk of the underlying instrument outstanding on the date

«/^er;^ng;ⁿ °^that r^var^ ^C°^ntraCt’^{the premium 0r disCOunt on such contracts} is amortized as income or expense over the life of
the contract. Any profit or loss arising on the cancellation or renewal of forward contracts is recognized as an incoZor _eZnsl
for the period. The exchange difference on such a forward exchange contract is calculated as the difference between

i) the foreign currency amount of the contract translated at the exchange rate at the Balance Sheet date, or the settlement date
where the transaction is settled during the reporting period and

^W toXSX”Wh''j ^ar^Un,r^laKd “^{,he la}“^r °^h,K da" °^{nncep,i0n of the f0}™^{ard e}“^ha"S'' and .he

whicK»^Er_ge“”^ge * ” ^reC°^Sn''^Zed " ''^{he S,a,emen}''^{and L}°^ss ” Period i"

areThf, 7H!?^aS''i''"^Clf“^e :^rrr‘ ''"“T^{l,edse ,he foreign currcnc}> ^risk of the highly probable transactions or firm commitments

alued at fair value at each Balance Sheet date. The resultant loss from these transactions is recognised in the Statement of Profit
and Loss However m case of resultant gains, such gains are not accounted in the books of accounts of the ton™
fair valuation loss already recongmsed m earlier years are reversed in the year of such decrease in fair valuation loss.

f. Earnings Per Share

!£w^araingf ^{PCT Sh}T -^a,^re ?^lculf^ted ^ ^dividing the net profit or loss for the period attributable to equity shareholders (after
¦ I "p⁸ P[^efere"^ce dividends and attributable taxes) by the weighted average number of equity shares outstanding during the

v ? ^yt^Pa , ^eqi''^, ^Sharf ^{are treated as 3 fraction of an ec}I^uity ^sha''-e to the extent that they are entitled to participate in
dividends relative to a fully paid equity share during the reporting period. ^{P P}

The weighted average numbers of equity shares are adjusted for events such as bonus issue, bonus element in the rights issue share

S"‘^{da,,on of shares) ,ha}''^ha" ^cha"^{8ed df} ¦— —₈.

fhTweteteS⁰³⁶ °^{f Calculadng di}.^lu‘^{ed earnings per share}- the net profit or loss for the year attributable to equity shareholders and
shares ^{§h d ra§e nUmbei} °^{f SharCS outstandln}g during the period are adjusted for the effects of all dilutive potential equity

g. Leases

As a Lessee

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item are classified as

operatmg leases. Operating lease payments are for the premises which are recognized as an expense in the Statement of Profit and
Loss on a straight-lme basis over the lease term.

h. Contingent Liability, Provisions and Contingencies

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of
resouices and a reliable estimate can be made of the amount of obligation.

rennhl''TnTtrt¹" ^{3 C}°^{ntingent liabili}*y ^{is made when there is} a possible obligation or a present obligation that probably will not
require an outflow of resources or where a reliable estimate of the obligation cannot be made.

Contingent assets are neither recorded nor disclosed in the financial statements.

i. Cash and Cash Equivalents

monthTor''test ^{EquivaIentS bclude Cash} °^{n hand and at bank}’ ^and short-term deposits with an original maturity period of three