Accounting Policies of Disha Resources Ltd. Company

Mar 31, 2025

Corporate Information:

Disha Resources Limited is a public company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. The registered office of the company is located at Ahmedabad, Gujarat, India.

The shares of the company is listed on the Bombay Stock Exchange Limited (‘BSE’).

NOTE 1: MATERIAL ACCOUNTING POLICIES:

I BASIS OF PREPARATION OF FINANCIAL STATEMENTS

a) Statement of Compliance & Accounting Conventions:

The financial statements for the year ended March 31, 2025 have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the "Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) read with Section 133 of the Companies Act, 2013 (“the Act”) and rules and regulations notified thereunder to the extent applicable and the other relevant provisions of the Act, pronouncements of the regulatory bodies applicable to the company.

The accounting policies are applied consistently over the years since adoption of Ind-AS as basis for preparation and disclosure of the financial statements 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 hitherto in use.

As made effective from April 01, 2023, the company has adopted the amendments to Ind-AS vide Companies (Indian Accounting Standard) Amendment Rules, 2023 notifying amendment to existing Ind AS. These amendments to the extent relevant to the Company''s operation include amendment to Ind AS 1 “Presentation of Financial Statements” which requires the entities to disclose their material accounting policies rather than their significant accounting policies, Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” which has introduced a definition of ‘accounting estimates’ and includes amendments to help entities distinguish changes in accounting policies from changes in accounting estimates. Further consequential amendments with respect to the concept of material accounting policies have also been made in "Ind AS 107 "Financial Instruments: Disclosures".

Apart from above there are other material amendments to various Ind-AS including Ind AS 101 "Firsttime Adoption of Indian Accounting Standards", Ind AS 103 "Business Combinations, Ind AS 109 "Financial Instruments " Ind AS 115 “Revenue from Contracts with Customers”, Ind AS 12 “Income Taxes”. These amendments and other amendments have reduced the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences.

The company has reviewed the amendments to Ind-AS as notified vide Companies (Indian Accounting Standard) Amendment Rules, 2023 and ascertained the revision in Ind-AS does not have any material impact on the reported amounts of assets, equity, liabilities, incomes, expenses, profits, losses and earning per share for the year.

The Financial Statements have been prepared on a historical cost basis except the following assets and liabilities which have been measured at fair values:

• Certain Financial Assets and Liabilities that are measured at Fair Value The accounting policies are applied consistently to all the periods reported in the financial statements unless otherwise stated.

Items included in the financial statements are measured using the currency of the primary economic environment in which the Company operates (''the functional currency''). The financial statements are __presented in Indian rupee (INR), which is the Company''s functional and presentation currency._

^b) Use of Estimates:_

The preparation of financial statements requires management to make estimates and assumptions that are believed to be reasonable under the circumstances and such estimates and assumptions may affect the reported amount of assets and liabilities, classification of assets and liabilities into non-current and current and disclosures relating to contingent liabilities as at the date of financial statements and the reported amounts of income and expenses during the reporting period. Although the financial statements have been prepared based on the management''s best knowledge of current events and procedures/actions, the actual results may differ on the final outcome of the matter/transaction to which the estimates relate.

The accounting estimates and underlying assumptions are reviewed on an ongoing basis by the management and may change from period to period based on the change in circumstances and relevant affecting factors. Appropriate changes in estimates are recognized in the period in which the Company becomes aware of the changes in circumstances surrounding the estimates. Any revisions to accounting estimates are recognized prospectively in the period in which the estimate is revised and subsequent __periods except for those changes requiring adjustment to prior period as per applicable Ind-AS._

c) Property, Plant and Equipment (PPE):_

The cost of an item of property, plant and equipment is recognized as an asset if, and only if:

(a) it is probable that future economic benefits associated with the item will flow to the company; and

(b) the cost of the item can be measured reliably.

The acquisition of property, plant and equipment, directly increasing the future economic benefits of any particular existing item of property, plant and equipment, which are necessary for the Company to obtain the future economic benefits from its other assets, are recognized as Property, Plant and Eauipment.

	Estimated Useful Lives of Items of Property, Plant & Equipment are as		ollows:
	Sr. No.	Class of Items of Property, Plant & Equipment	Estimated Useful Life
	i.	Computer Systems	3 Years

d) Revenue Recognition:_

Revenue is measured at the fair value of the consideration received or receivable from the customers/parties'' net of returns, rebates, value added taxes and discount to the customers and amounts collected on behalf of third parties. The Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably, regardless of when the payment is being made.

Sale of Goods:

The revenue from the sale of goods is recognized at transaction price when the company had transferred the property in Goods to the buyer for a price and all significant risks and rewards of ownership had been transferred to the buyer and no significant uncertainty existed as to the amount of consideration that would be derived from such sale. The recognition event is usually the dispatch of goods to the buyer such that the Company retains no effective control over the goods dispatched.

Profit/(Loss) on Sale of Shares:

The profit/(loss) from the sale of shares is recognized on transfer of shares in favour of the transferee net of cost of acquisition.

Interest Income:

Income from investments and deposits and loans and advances, where appropriate, is taken into revenue in full on declaration or accrual on time basis and tax deducted at source thereon is treated as advance tax. The interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the company and the amount interest income can be measured reliably.

Dividend Income:

The dividend income on investment is recognised in the period in which the right to receive the dividend __income is established at gross value and tax deducted at source thereon is treated as advance tax._

e) Investments_

The Company’s financial assets in the nature of investments in shares held as stock in trade have been valued at fair value through profit or loss.

The investments in equity instruments other than held for trading are measured at fair value with gains and losses arising from changes in fair value recognized in other comprehensive income and accumulated in other equity under subhead Equity Instruments through Other Comprehensive income. The cumulative gain or loss is not reclassified to profit or loss on disposal of the investments if any.

f) Employee Benefits:_

1. Short Term Obligations:_

Short term employee benefits of salaries are recognized in the period during which services are rendered by the employees and are recognized at the value at amounts at which liabilities have been settled or are expected to be settled._

2. Post-Employment and Other Long-Term Employee Benefits:_

Post-Employment and Other Long-Term Employee Benefits schemes are not applicable to the company.

g) Operating Segment_

The Company identifies operating segments on the basis of dominant source, nature of risks and returns and the internal organization. The operating segments are the segments for which separate financial information is available and for which operating profit/(loss) amounts are evaluated regularly by the Managing Director/Chief Executive Officer who is Company’s chief operating maker in deciding how to allocate resources and in assessing performance. The operating segments reported are the segments of the company for which separate financial information is maintained and is available.

The dominant source of income of the company is from trading of cloth, trading of metal-based items and the sale of shares held for trading or investments.

On the basis of dominant source, nature of risks and returns and the internal organization, the company has identified two operating segments: i. Trading in Shares and ii. Trading Others.

The accounting policies of the reportable segments are the same as the accounting policies followed by the company.

The reporting of segment information is the same as provided to the management for the purpose of the performance assessment and resource allocation to the segments.

The following specific accounting policies have been followed for segment reporting:

i. Segment revenue includes sales and other operational revenue directly identifiable with/allocable to the segment.

ii. Expenses that are directly identifiable with/allocable to segments.

iii. Income/Expenses which relates to the Company as a whole and not allocable to segments is included in unallocable corporate income/expenditure.

The company is domiciled in India and its operations are within the limited geographical areas. The geographical/regulatory environment in which the company operates does not materially differ considering the political and economic environment, the type of customers, assets employed and the risk and return associated in respect of each of the geographical area and accordingly there no separate reportable geographical segments.

h) Taxes On Income:_

1. Current Tax:_

The provision for current tax is made as per the provisions of the Income Tax Act, 1961.

Taxes on income have been determined based on the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The current tax liabilities and assets are measured at the amounts expected to be paid or to be recovered from the taxation authorities as at the balance sheet date.

The current tax liabilities and assets are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis or to realise the assets and settle the liabilities simultaneously. The current income tax relating to items recognized outside profit or loss is recognized either in the Other Comprehensive Income or in Other Equity Directly.

2. Deferred Taxes_

Deferred tax is provided on temporary differences between the tax bases of assets and liabilities as per the provisions of the Income Tax Act, 1961 and their carrying amounts for financial reporting purposes as at the financial statements date.

Deferred tax liabilities are recognized for all taxable temporary timing differences. Deferred tax assets are recognized for all deductible taxable temporary timing differences, the carry forward of unused tax losses and unused tax credits to the extent to which future taxable profits are expected to be available against which the deductible temporary differences and the carry forward of unused tax losses and unused tax credits can be utilized/set-off.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised based on the tax rates and tax laws that have been enacted or substantially enacted by the end of the reporting period.

The carrying amount of deferred tax assets are reviewed at the end of each reporting period. The net deferred tax assets and liabilities are not discounted to the present value as at the end of each period.

Deferred tax assets and deferred tax liabilities are off set when there is a legally enforceable right to setoff assets against liabilities representing current tax and where the deferred tax assets and deferred tax liabilities relate to taxes on income levied by the same governing taxation laws.

i) Provisions, Contingent Liabilities and Contingent Assets_

The Company recognises a provision when it has a present obligation as a result of a past event that probably requires an outflow of the Company''s resources embodying economic benefits at the time of settlement and a reliable estimate can be made of the amount of the obligation. The provisions are measured at the best estimate of the amounts required to settle the present obligation as at the balance sheet date and are not discounted to its present value.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only on the occurrence or non-occurrence of one or more future uncertain events not wholly or substantially within the control of the Company or a present obligation that arises from the past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made.

When demand notices are issued by the Government Authorities and demand is disputed by the company and it is probable that the company will not be required to settle/pay such demands then these are classified as disputed obligations.

Contingent Assets, if any, are not recognised in the financial statements. If it becomes certain that inflow of economic benefit will arise then such asset and the relative income are recognised in financial statements.

j) Current/Non-Current Classifications:_

The Company presents assets and liabilities in the balance sheet on the basis of their classifications into

current and non-current based on the assessment made by the management of the company._

Assets:_

An asset is treated as current when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period

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

All other assets are classified as non-current.

Liabilities:_

A liability is treated as current when it is:

• Expected to be settled in normal operating cycle

• Held primarily for the purpose of trading

• Due to be settled within twelve months after the reporting period

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

All other liabilities are classified as non-current.

k) Financial Instruments, Financial Assets, Financial liabilities and Equity Instruments_

The financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the relevant instrument and are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities measured at fair value through profit or loss) are added to or deducted from the fair value on initial recognition of financial assets or financial liabilities.

A. Financial Assets:

Initial Recognition:

Financial Assets include Investments, Cash and Cash Equivalents and eligible current and non-current assets. The financial assets are initially recognized at the transaction price when the Company becomes party to contractual obligations. The transaction price includes transaction costs unless the asset is being value at fair value through the Statement of Profit and Loss.

Subsequent Measurement:

The subsequent measurement of financial assets depends upon the initial classification of financial assets.

Investments in equity investment held for trading are classified for measurement at FVTPL. Investments in equity instruments other than held for trading are measured at fair value with gains and losses arising from changes in fair value recognized in other comprehensive income and accumulated in other equity under subhead Equity instruments through other comprehensive income.

Impairment:

If the recoverable amount of an asset (or cash-generating unit/Fixed Assets) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a re-valued amount if any, in which case the impairment loss is treated as a revaluation __decrease._

Financial assets, other than those at Fair Value through Profit and Loss (FVTPL), are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

The company recognises impairment loss on trade receivables using expected credit loss model.

B. Financial Liabilities:

Financial liabilities, which include trade payables and eligible current and non-current liabilities. The trade payables and other financial liabilities are recognised at the value of the respective contractual obligations. Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is discharged, cancelled and on expiry of the terms.

l) Fair Value Measurement:_

The Company measures financial instruments, such as investments at fair value at each balance sheet date. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or In the absence of a principal market, in the most advantageous market for the asset or liability

• The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value

measurement is directly or indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value __hierarchy as explained above._

m) Cash and Cash Equivalents-For the Purpose of Cash Flow Statements:_

Cash and cash equivalent in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

n) Operating Cycle:_

Based on the activities of the company and normal time between incurring of liabilities and their settlement in cash or cash equivalents and acquisition/right to assets and their realization in cash or cash equivalents, the company has considered its operating cycle as 12 months for the purpose of classification of its liabilities and assets as current and non-current.

o) Earnings Per Share:_

The Company presents basic and diluted earnings per share details for its ordinary shares. Basic earnings per share is calculated by dividing the total comprehensive income after tax for the year attributable to the ordinary shareholders of the company by weighted number of ordinary shares outstanding for applicable period during the year.

Diluted earnings per share is calculated considering the effect of dilution if any to ordinary share during the year.

p) Materiality_

The Management of the company uses judgement in deciding whether individual items or groups of items are material in the financial statements. Materiality is judged by reference to the nature or magnitude or both of the items. The deciding factor is whether omitting or misstating or obscuring an information could individually or in combination with other related information influence decisions that primary users make on the basis of the financial statements. Management also uses judgement of materiality for determining the compliance requirement of the Ind AS. Further, the company may also be __required to present separately immaterial items when required by law._

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Mar 31, 2024

NOTE 1; MATERIAL ACCOUNTING POLICIES:

1 BASIS OF PREPARATION OP FINANCIAL STATEMENTS
a) Statement of Compliance &. Account in;" Conventions:

The financial statements for the; year ended March 31, 2024 havy been prepared in accordance with
the Indian Accounting Standard!; (hereinafter referred to as the "Ind AS") as notified under the
Companies (Indian Accounting Standards) Rules, 20IS (as amended) read with Section 133 of the
Companies Act, 2013 (“the Art''¹) and rules and regulations notified thereunder to the extent
appheabie and the other relevant provisions of the Act, pronouncements of the regulatory bodies
applicable to the company.

Tlic accoun ri ng pol Lcies a re a p plied cons istentiy over the y ea rs si ncc adoptio n of Inti -AS a s basi s for
preparation and disclosure of the financial statements 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 hitherto in use.

As made effective from April Ql, 2023, the company has adopted the amendments to Ind-AS vide
Companies (Indian Accounting Standard) Amendment Ruies, 2023 notifying amendment to existing
ind AS, These amendments to the extent reliant to the Company’s operation include amendment to
ind AS 1 "’Presentation of Financial Statements" which requires the entitles to disclose their material
accounting policies rather than their significant accounting policies, Ind AS 3 "Accounting Policies,
Changes in Accounting Estimates and Errors" which has introduced a definition of ''accounting
estimates’ and Includes amendments to help entities distinguish changes m accounting policies from
charges in accounting estimates. Further consequential amendments with respect to the concept of
material accounting policies have also been made in "Ind AS 107 "Financial Instruments:
Disclosures".

Apart from above there are other material amendments to various Ind-AS including ind AS 101
"First-time Adoption of Indian Accounting Standards", Jnd AS 103 "Business Combi nations, ind AS
109 "Financial Instruments " Ind AS IIS "Revenue from Contracts with Customers", Ind AS 12
"Income Taxes". These amendments and other amendments have reduced the scope of the initial
recognition exemption so that Jt does not apply to transactions that give rise to equal and oiTseLtlng
temporary differences.

The company has reviewed the amend in nils tu I rid-AS as null fled vide Companies (Jiidiaii
Accounting Standard) Amendment Rules, 2023 and ascertained the revision in I rid-AS does not have
any material impact on the reported amounts of assets, equity, liabilities, incomes, expenses, profits,
losses arid earning per.share for the year.

Tlie Financial Statements have been prepared on a historical cost basis except the following assets
anil liabilities Which have been measured uL fair values:

Certain Financial Assets and Liabilities that a re measured at Fair Value

The accounting policies are applied consistently Ln all the periods reported in the financial
statements unless otherwise stated.

Items Included In the financial statements arc measured using, the currency of the primary economic
environment in which the Company operates (''the functional currency"). The financial statements
;irt? presented in Indian rupee [INR], which is the Company''s functional and presentation currency.

k) Use of Estimates:

The preparation of financial Statements requires management to make estimates and assumptions
that are believed to be reasonable under the circumstances and such estimates and assumptions
may affect the reported amount of assets and liabilities, classification of assets and liabilities into
m in-current and currant and disclosures relating tO enntingent liabilities as at the Hate of financial
statements and the reported amounts of Income and expenses during the reporting period.
Although the financial statements have been pie pared based on the management''s best knowledge
of current events and prucedures/actlons, the actual results may differ on the final outcome of the
matter/transaction to which the estimates relate.

The accounting estimates and underlying assumptions are reviewed on an ongoing basis by the
management and may change from period to period based on the change in circumstances and
relevant affecting factor. Appropriate changes in estimates are recognized in the period in which
the Company becomes aware of the changes in circumstances surrounding the estimates. Any
revisions to accoanting estimates arc recognized prospectively in the period in which the estimate is
revised and subsequent periods except for those changes requiring adjustment to prior period as

__per applicable Ind-AS._

c) Property, Plant ajid Equipment (PREJ:

The cost of an item of pj’operty, plant and equipment is recognized as an asset if, and only if:

(a) it is probable that future economic benefits associated with the item will flow to the company;
and

[b] the cost of the Item can be measured reliably.

The acquisition of property, plant and equipment, directly increasing the future economic benefits
of any particular existing item of property, plant and equipment, which are necessary for the
Company to obtain the future economic benefits from its other assets, are recognized as Property.
Plant and Equipment.

d] Revenue Recognition:

Revenue is measured at the fair value of the consideration received or receivable from the
customers/parties net of returns, rebates, value added taxes and discount to the customers and
amounts collected on behalf of third parties. The Revenue is recognised to the extent that it is
probable that the economic benefits will flow to the Company anti the revenue fin he measured
reliably, regardless of when the payment is being made.

Sale of Goods:

The revenue from the sale nf goods is recognized at transaction price when the enmpany had
transferred the property in Goods to the buyer for a price and ail significant risks and rewards of
ownership had been transferred to the buyer and no significant uncertainty existed as to the
amount of consideration that would be derived from such sale. The recognition event is usually the
dispatch of goods to the buyer such that the Company retains no effective control over tire goods
dispatched.

Prof1l/[Loss) on Saif of Shares;

The pro fit/(Loss) f_ronl the sale of shares is recognized oil transfer of shares in favour of the
transferee nut of cost of acquisition.

Interest Income;

income from investments and deposits and loans and advances, whore appropriate, is taker into
revenue in full on declaration or accrual on time basis and tax deducted at source thereon is treated
as advance tax. The Interest income from a financial asset is recognized when it is probable that the
economic benefits will flow to the company and the amount interest income tan be measured
reliably.

Dividend Incline:

The dividend income on investment is recognised in the period in which the right to receive the
dividend income is established at gross value and tax deducted at source thereon is treated as
advance tan,
ej Investments

The Company''s financial assets in the nature of investments in shares held as stock in trade have
beer valued at fair value through profit or loss.

The in vestments in equity instruments other than held for trading are measured at fair value with
gains and losses aidsing from changes in fair value recognized in other comprehensive income and
accumulated in other equity under subhead Lquity Instruments through Other Comprehensive
income. The cumulative gam or loss is not reclassified to profit nr loss on disposal of the

__investments if any._

fl Employee Benefits:

t, Short Term Obi i g a tin ns:

Short term employee benefits of salaries are recognized in the period during which services are
rendered by the employees and arc recognized at the value at amounts at which liabilities have been
settled or are expected to be settled.

it. PosbEmpIDyment and Other Long-Term Employee Benefits:

Post-Employment and Other Long-Term Employee Benefits schemes are not applicable to the

_ company_

g} Operating Segment

The Company identifies operating segments on the basis of dominant source, nature of risks and
returns and the internal organization. The operating segments are the segments for which separate
financial information is available and for which operating profit/[loss] amounts arc evaluated
regularly by the Managing Director/Chlef Executive Officer who is Company''s chief operating maker
In deciding how to allocate resources and in assessing performance. The operating segments
reported are the segments of the company for which separate Financial Information Is maintained
and is available.

The dominant source of in come of the company is from trading of cloth, trading of metal-based
Items and the sale of s bares h eld for trad I ng or 1 nvestmen ts.

On the basis of dominant source, nature of risks and returns and the internal organization, the
co mpa ny has iden ti bed two ope rat i ng segme nts: i. T ra d i ng in S ha res and i i. T ra di ng Others,

The accounting policies of the reportable segments are the same as the accounting policies followed
by the company.

The reporting Of segment inFormatioii is the same as provided to the management for the purpose 0F
the performance assessment and resource allocation to the segments.

The following specific accounting policies have been followed for segment reporting:

1. Segment revenue Includes sales and ether operational revenue directly Idem!liable
witb/allocable to the segment.

j i. F y pe list?* th at a re dl rectly idt?n ti fia b Is wlth/allocabl e to segm entss.

hi. in conic/Expenses which relates to die Company as a whnlc and not allocable to segments Is

included in unallocable corporate into me/expenditure.

The company is domiciled In India and Its operations are within the limited geographical areas. The
geographical/regulatory environment in which the company operates does not materially diifer
considering the political and economic environment, the type? of custom e?rs, assets employed and the
risk and return associated in respect of each of the geographical area and accordingly there no
separate reportable geographical segments,

hj Taxes On Income:

1. Current Tax:

The provision for current tax is made as per the provisions of the Income Tax Act, T ^ 01 -
Taxes on income have been determined based on the lax rates arid tax laws Lhal have been enacted
or substantively enacted by the balance sheet date. The current tax liabilities and assets are
measured at the amounts ok ported to be paid or to be recovered from the taxation authorities as at
the hala ncc sheet date.

The current tax liabilities and assets are offset where the entity has a legally enforceable right to
offset and intends either to settle on a net basis or to realise the assets anti settle the liabilities
simultaneously.

The current income tax relating to items recognized outside profit or loss is recognized either in the
Other Comprehensive Income or in Other Equity l>irectly._

2. Deferred Taxes

Det''eired taxis provided on temporary differences between the tax bases of assets and liabilities as
per the provisions of the Income Tax Act, 1961 and their carrying amounts for financial reporting
purposes as at the financial statements dale.

Defeired tax liabilities are recognized for all taxable temporary timing differences, Deferred tax
assets are recognized for all deductible taxable temporaiy timing differences, the carry forward of
unused lax losses and unused tax credits to Lhc extent to which future taxable profits are expected
to be available against which the deductible temporary differences and the carry forward of unused
tax losses and unused tax credits can be utilized/set-off.

Deferred tax Is calculated at the tax rates that are expected to apply In the period when the IJahihLy

Is

settled or the asset is realised based on the tax rates and tax laws that have been enacted or
substantially enacted by Lhe end of the reporting period.

The carrying amount of deferred tax assets are reviewed at the end of each reporting period. The
net deferred tax assets and liabilities are not discounted to the present value as at the end of each
period.

Deferred tax assets and deferred tax liabilities are off set when there is a legally enforceable right to
seboJT assets against liabilities representing current Lax and where the deferred tax assets and
deferred tax liabilities relate to taxes on Income levied b^_tbe same governing taxation law^.

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Mar 31, 2015

1. The financial statements have been prepared under Historical Cost Convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 & 2013 as adopted consistently by the Company. The same are prepared on a going concern basis. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Closing Stock of all shares are valued at cost.

3. In the opinion of the board, current assets and loans and advances are approximately of the value stated, if realized, in the ordinary course of business and all known liabilities have been provided for.

4. Auditor's Remuneration:

Particulars 2014-15 2013-14

Audit Fees & Income Tax Matters 30000 30000

TOTAL 30000 30000

5. Investments are stated at cost, and provision for permanent diminution in value of such investments have been made as per the circumstances.

6. P F Superannuation Fund and other employees benefits scheme are not yet applicable to the company.

7. Previous year figures have been regrouped and rearranged wherever necessary.

8. Balance of Loans, Debtors, Creditors and depositors are subject to confirmation and reconciliation.

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Mar 31, 2014

1. The financial statements have been prepared under Historical Cost Convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the Company. The same are prepared on a going concern basis. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Closing Stock of all shares are valued at cost.

3. In the opinion of the board, current assets and loans and advances are approximately of the value stated, if realized, in the ordinary course of business and all known liabilities have been provided for.

5. Investments are stated at cost, and provision for permanent diminution in value of such investments have been made as per the circumstances.

6. P F Superannuation Fund and other employees benefits scheme are not yet applicable to the company.

7. Previous year figures have been regrouped and rearranged wherever necessary.

8. Balance of Loans, Debtors, Creditors and depositors are subject to confirmation and reconciliation.

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Mar 31, 2010

1. The financial statements have been prepared under Historical Cost Convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the Company. The same are prepared on a going concern basis. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Closing Stock of Quoted shares are valued at market price and other shares at cost price. However at the year end valuation of quoted shares has been taken at opening rates and not at market rates.

3. In the opinion of the board, current assets and loans and advances are approximately of the value stated, if realized, in the ordinary course of business and all known liabilities have been provided for.

5. Investments are stated at cost, and provision for permanent diminution in value of such investments have been made as per the circumstances.

6. P F Superannuation Fund and other employees benefits, scheme are not yet applicable to the company.