Accounting Policies of Exhicon Events Media Solutions Ltd. Company

Mar 31, 2025

1 Corporate Information

Exhicon Events Wedia Solutions Limited is a company domiciled in India and incorporated on 26th Sep 2010 under The Companies
Act, 1956. The company is engaged in the business of Event Management, Exhibition, Trade Fair, Marketing and Advertising Services
and their Infrastructure. Its principal place of business is at Unit No. 134 It 146, 1st Floor, Andhen Industrial Estate, Plot No. 22,
Veera Desai Road, Andheri West, Mumbai - 400053, Maharashtra, India

2 Significant Accounting Policies

2.1 Basis Of Preparation of Financial Statements

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting
standards notified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules,
2014. The financial statements have been prepared on an accrual basis and under the historical cost convention. The accounting
policies adopted in the preparation of financial statements are consistent with those of previous year.

2.2 Current/Non-Current Classification

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

An Assets is classified as current when It Is expected to be realised or intended to be sold or consumed In normal operating cycle. Ail
other assets are classified as non current.

Liabilities is classified as current when it is settled in normal operating cycle. All other liabilities are classified as non current.
Differed Tax Assets and Liabilites are classified as Non-current assets arid liabilities.

2.3 Us* of Estimates

The preparation of financial statements In conformity with Indian GAAP requires the management to make Judgements, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent
liabilities, at the end of the reporting period. Although these estimates are based on the management’s best knowledge of current
events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring an adjustment to the
carrying amounts of assets or liabilities in future periods.

2.4 Tangible Fixed Assets

Fixed assets are stated at cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price
including taxes, freight and incidental expenses attributable to bringing the asset to its working condition for its intended use.

Depreciation on tangible fixed assets

Depreciation on fixed assets is determined based on the estimated useful life of the assets using the written down value method as
prescribed under theCompanies Act, Depreciation on assets purchased/sold during the period is proportionately charged. Leasehold
land is amortized on a straight line basis over the period of lease. Intangible assets, If any, are amortized over their useful life on a
straight line method.

2.5 Intangible Assets

Intangible assets are stateo at acquisition cost, net of accumulated amortization and accumulated impairment losses, if any except
for assets acquired through Business Transfer Agreement which are recognised as a difference between Purcahse Consideration and
fair value of assets acquired. Intangible assets are amortised on a straight line basis over their estimated useful lives. A rebuttable
presumption that the useful life of an intangible asset will not exceed ten years from the date when the asset is available for use is
considered by the management. The amortisation period and the amortisation method are reviewed at least at each financial year
end. If Che excepted useful life of the assets is significantly different from previous estimates, the amortisation period is changed
accordingly.

Gains or losses arising from the retirement of disposal of an intangible asset are determined as the difference between the net
disposal proceeds and the carrying amount of the asset and recognized as income or expenses in the Statement of Profit and Loss.

2.6 Impairment of tangible and intangible assets

The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on
internal/extemal factors and if there is any impairment, necessary provision is accounted for.

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

2.7 Inventoreis

The Company is engaged in the business of event and exhibition organisation and does not hold any inventories in the nature of raw
materials, work-in-progress, or finished goods.

The items used for conducting events such as hanger structures, air conditioners, generators, octonorm stalls, furniture, sound ft
light equipment etc. are capitalized and classified under Property, Plant & Equipment, since they provide enduring benefits over
multiple events and financial periods.

Accordingly, no inventory is carried in the financial statements as at the reporting date.

2.8 Government Grants

Grants and subsidies from the government are recognized when there is reasonable assurance that (i) the company will comply with
the conditions attached to them, and (ii) the grant/subsidy will be received.

When the grants or subsidy related to revenue, it is recognized as income on a systematic basis in the statement of profit and loss
over the periods necessary to match them with the related costs, which they are intended to compensate. Where the grant relates to
an asset, it is recognized as deferred income and released to income in equal amounts over the expected useful life of the related
asset.

Government grants of the nature of promoters’ contribution are credited to capital reserve and treated as a part of the shareholders''
fund.

2.9 Investments

Investments, which are readily realizable and intended to be held for not more that one year from the date on which such
investments are made, are classified as current investments. All other investments are classified as long term investments. Current
investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis. Long
term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary
in the value of the investments.

On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the
statement of profit and loss.

2.10 Revenue Recognition

Revenue comprise of the fair value of the consideration received or receivable for the sale of Goods and Sendees in the
ordinary course of the Company''s activates.

Sale of Goods :

Revenue from sale of goods Is recogntzed when all the significant risks and rev/ards of ownership of the goods have been
passed to the buyer, usually on delivery of the goods. The company collects Goods and Service Tax on behalf of the
government and, therefore, these are not economic benefits flowing to the company. Hence, they are excluded from the
revenue.

Revenue from Services:

Revenue from services Is recognized to the extent that it is probable that the economic benefits wall flow to the Company
and the revenue can be reliably measured, as and when the services are rendered. It is shown net of Goods and Service
Tax and returns.

Revenue from Job Work/ Contract:

Revenue from Job work/ Contract is recognized when the contractual obligation is fulfilled and goods/services are
delivered to the contractee.

Interest Income :

Interest Income is recognized on a time proportion basis taking into account the amount outstanding and the applicable Interest rate
and on reasonable certainty of realisation thereof. Interest Income is Included under the head "other income’ in the statement of
profit and loss.

2.11 Foreign Currency Translation, accounting for forward contracts and other derivative instruments

a) Initial recognition

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

b) 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.

c) Exchange Differences

Exchange differences arising on the settlement of monetary items or on reporting such monetary items of company at rates different
from those at which they were initially recorded during the year, or reported in previous financial statements, are recognized as
income or as expenses in the year in which they arise.

Charges on foreign currency derivative contracts are expensed as incurred under ''Interest and Finance Charges''.

2.12 Retirement and other employee benefits

a) Retirement benefits in the form of Provident Fund and Employee State Insurance are a defined contribution scheme and the
contributions are charged to the Statement of Profit and Loss of the year when an employee renders the related services. There are
no other obligations other than the contribution payable to the respective Provident Fund Authority.

b) Short term compensated absences are provided as per the policies of the Company.

2.13 Income Taxes

Tax expense comprises of current tax and deferred tax.

Current Income tax It is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income
Tax Act. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting
Income for the year and reversal of timing differences of earlier years.

Deferred tax : It Is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.
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 tax assets and deferred tax liabilities relate to the taxes on income levied by same governing
taxation laws. Deferred tax assets are recognized only to the extent that there Is reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed
depredation or carry forward tax losses, all deferred tax assets are recognized only If there is virtual certainty supported by
convindng evidence that they can be realized against future taxable profits.

At each balance sheet date the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax
assets to the extent that it has become reasonably certain or virtually certain, as the case may be that sufficient future taxable
income will be available against which such deferred tax assets can be realized.

Minimum Alternative tax (MAT): MAT credit is recognized as an asset only when and to the extent there is convincing evidence that
the Company will pay normal income tax. during the specified period. In the year in which the MAT credit becomes eligible to be
recognized as an asset in accordance with the recommendations contained in Guidance Note issued by the Institute of Chartered
Accountants of India, the said asset is created by way of a credit to the statement of profit and loss and shown as MAT Credit
Entitlement. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit
Entitlement to the extent there is no longer convincing evidence to the effect that Company will pay normal Income Tax during the
specified period.

2.14 Segment Reporting

The Company has only one business segment, which is providing services to Media and Technologies industries. The Company''s
primary operations are based in India and also does not have any assets located outside India.

2.15 Earnings Per Share

Earning per share are calculated by dividing the net profit or loss after taxes for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period.

For the purpose of calculating, diluted earnings per share, the net profit/ (loss) for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year are adjusted for the effects of dilutive potential equity shares.

2.16 Cash ft Cash equivalents

Cash and cash equivalents for the purposes of Cash Flow Statement comprise cash at bank and in hand and short-term investments
with an original maturity of three months or less.

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Mar 31, 2024

COMPANY OVERVIEW

EXHICON EVENTS MEDIA SOLUTIONS LIMITED is public company (CIN: U74990MH2010PLC202 18) incorporated on under the provisions of the Comapnies Act, 1956 with the Registrar of companies,. Its registered office is Unit No. 134 & 146, 1st Floor, Andheri Industrial Estate, Plot No. 22, Veera Desai Road, Andheri, Mumbai, Maharashtra, India, 400053

NOTE - 1. SIGNIFICANT ACCOUNTING POLICIES1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements of the company have been prepared under the historical cost convention, in accordance with generally accepted accounting principles in India (Indian GAAP) on an accrual basis. The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounts) Rules, 2014, and the relevant provisions of the Companies Act, 1956, to the extent applicable and the guidance notes, standards issued by the Institute of Chartered Accountants of India. Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard required a change in the accounting policy hitherto in use.

1.2 USE OF ESTIMATES

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates are based on the management’s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

1.3 FIXED ASSETS, INTANGIBLE ASSETS AND CAPITAL WORK IN PROGRESS

Fixed assets are stated at cost, after reducing accumulated depreciation and impairment up to the

date of the Balance Sheet. Direct costs are capitalized until the assets are ready for use and include financing costs relating to any borrowing attributable to acquisition of construction of those fixed assets which necessarily take a substantial period of time to get ready for their intended use. Capital work in progress includes the cost of fixed assets that are not yet ready for their intended use. Intangible assets, if any, are recorded at the consideration paid for acquisition of such assets and are carried at cost less accumulated amortization and impairment.

1.4 DEPRECIATION

Depreciation on fixed assets is determined based on the estimated useful life of the assets using the written down value method as prescribed under the schedule II to the Companies Act, 1956. Individual assets costing less than Rs. 5000.00 or less are depreciated within a year of acquisition. Depreciation on assets purchased/sold during the period is proportionately charged. Leasehold land is amortized on a straight line basis over the period of lease. Intangible assets, if any, are amortized over their useful life on a straight line method.

1.5 Employee benefits

Short Term benefits are recognized as an expense at the undiscounted amount in the statement of Profit and Loss of the year in which related service is rendered. Retirement benefits in form of gratuity, leave encashment etc. will be accounted for on accrual basis. The company has not incurred any liabilities in this respect till the end of the year. Provisions of Employees’ Provident Fund and Miscellaneous Provisions Act and Payment of gratuity act are not applicable to the company. However, there is no liability accrued in this respect as on the end of the financial year.

1.6 Government grants

Grants and subsidies from the government are recognized when there is reasonable assurance that (i) the company will comply with the conditions attached to them, and (ii) the grant/subsidy will be received.

When the grants or subsidy related to revenue, it is recognized as income on a systematic basis in the statement of profit and loss over the periods

necessary to match them with the related costs, which they are intended to compensate. Where the grant relates to an asset, it is recognized as deferred income and released to income in equal amounts over the expected useful life of the related asset.

Government grants of the nature of promoters’ contribution are credited to capital reserve and treated as a part of the shareholders’ fund.

1.7 Investments

Investments, which are readily realizable and intended to be held for not more that one year from the date on which such investments are made, are classified as current investments. All other investments are classified as long term investments. Current investments are carried in the financial statements at lower of cost and fair value determined on an individual investment basis. Long term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary in the value of the investments.

On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

1.8 Inventories

All trading goods are valued at lower of cost and net realizable value. Cost of inventories is determined on first in first out basis. Scrap is valued at net realizable value

Net realizable value is the estimated selling price in the ordinary course of business.

1.9 Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognized:

Sale of goods

Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer, usually on delivery of the goods. The company collects sales taxes and value added taxes (VAT) on behalf of the government and, therefore, these are not economic benefits flowing to the company. Hence, they are

excluded from the revenue.

Income from Job work/Services

Revenue from Job work/ Services is recognized when the contractual obligation is fulfilled and goods/services are delivered to the contractee.

Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable rate of interest. Interest income is included under the head “Other Income” in the statement of profit and loss.

1.10 Income Taxes

Tax expenses comprise current and deferred tax. Current Income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act, 1961. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred Income taxes reflect the impact of timing differences between taxable income and accounting income originating during the current year and reversal of timing differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date.

Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized for deductible timing differences only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidences that they can be realized against future taxable profits. Deferred tax assets are reviewed at each reporting date. Minimum Alternate Tax paid in a year is charged to the statement of profit and loss as current tax. The company recognizes MAT credit available as an asset only to the extent that there is convincing evidence that the company will pay normal 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 alternate 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” at each reporting date.

1.11 Provisions and contingent liabilities

The company recognizes a provision when there is a 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 the obligation. A disclosure for a contingent liability is made when there is a present obligation that cannot be estimated reliably or a possible or present obligation that may, but probably will not, require and outflow of resources. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

1.12 Earning Per Share

Earning per share are calculated by dividing the net profit or loss after taxes for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating, diluted earnings per share, the net profit/ (loss) for the year attributable to equity shareholders and weighted average number of shares outstanding during the year are adjusted for the effects of dilutive potential equity shares.

1.13 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

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Mar 31, 2023

1. Corporate information

Exhicon Events Media Solutions Ltd is a public company domiciled in India and incorporated under The Companies Act, 1956. The company was incorporated on 26/09/2010. The company is engaged in the business of Exhibitions and Events. Its principal place of business is at 103, Crystal Paradise, DS Road, off Veera Desai Road, Andheri (W) Mumbai MH 400053

2. Significant accounting policies2.1. Basis of accounting and preparation of financial statements

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014. The financial statements have been prepared on an accrual basis and under the historical cost convention. The accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

2.2. Depreciation and amortisation

Till the year ended March 31, 2014, Schedule XIV to Companies Act, 1956 prescribed requirements concerning depreciation of fixed assets. From Financial Year 2014-15 onwards, Schedule XIV has been replaced with Schedule II to the Companies Act, 2013.

Depreciation is provided on written down value method in the manner and as per useful life prescribed under Schedule II.

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. 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 tax assets and deferred tax liabilities relate to the taxes on income levied by same governing taxation laws. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits.

At each balance sheet date the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax assets to the extent that it has become reasonably certain or virtually certain, as the case may be that sufficient future taxable income will be available against which such deferred tax assets can be realized. Tax expense comprises of current and deferred. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income-tax Act, 1961 enacted in India. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

2.3. Revenue recognition

The Company follows accrual method of accounting for all significant items of expenses and income.

2.4. Tangible fixed assets

Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fixed assets includes interest on borrowings attributable to acquisition of qualifying fixed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to that date.

2.5. Foreign currency transactions and translations

Foreign currency translation in respect of revenue items are stated at actual rates transacted and in respect of balance sheet items converted at relevant rates as at the end of the accounting year followed.

2.6. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share.

2.7. Taxes on income

2.8. Provisions and contingencies

Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the 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 disclosed on the basis of information available with the Company.

2.9. Balances with third parties

Insurance Claims are accounted for on the basis of actual loss assessed, as and when finally settled and received.

2.10. Balances with third parties

Balances of Sundry Debtors, Creditors, Loans, Deposits, Advances are subject to confirmation reconciliation and adjustments, if any.

2.11. Cash and cash equivalents

for the purpose of cash flow comprise Cash at bank, Cash in Hand and short term fixed deposits.Cash and cash equivalents