Accounting Policies of Gretex Corporate Services Ltd. Company

Mar 31, 2025

1 SIGNIFICANT ACCOUNTING POLICIES & NOTES ON FINANCIAL STATEMENT :

A Basis of Preparation of Financial Statements

These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) under the historical
cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the
provisions of the Companies Act, 2013 (''the Act'') (to the extent notified). The Ind AS are prescribed under Section
133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian
Accounting Standards) Amendment Rules, 2016.

The Company has adopted IndAS during the F. Y. 2023-24, all the Ind AS standards and the adoption was carried out in
accordance with Ind AS 101 - First-Time Adoption of Indian Accounting Standards. The transition was carried out from
Indian Accounting Principles generally accepted in India as prescribed under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP.

Accounting policies 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 hitherto in use.

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 products and the
time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the company
ascertains its operating cycle for the purpose of current/non-current classification of assets and liabilities.

B Use of Estimates

The preparation of the Financial Statements in conformity with IndAS requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosures relating to contingent liabilities
as at the date of the financial statements and reported amount of income and expenses during the period. Examples of
such estimates includes future obligation with respect to employees benefits, income taxes, useful lives of fixed assets
etc. Although these estimates are based upon management''s best knowledge of current events and actions, actual
results could differ from these estimates. Difference between the actual results and estimates are recognised in the
period in which the results are known / materialised.

C Property, Plant & Equipment and Intangible Assets

Transition to INDAS for presentation of Financial Statements

On transition to Ind AS, the Company has elected to continue with the carrying value of all the items of property, plant
and equipment recognized as at 01 April,2022, measured as per the previous GAAP, and use that carrying value as the
deemed cost of such property, plant and equipment.

Intial Measurement & Subsequent recognition

The Property, Plant and Equipment & Intangible Assets are stated at cost, less accumulated depreciation and impairment
,if any. Direct costs are capitalised until such assets are not put to use. The cost comprises of purchase price, taxes,
duties, freight and other incidental expenses directly attributable and related to acquisition and installation of the
concerned assets and are further adjusted by the amount of input tax credit availed wherever applicable. Subsequent
costs are included in asset''s carrying amount or recognised as separate assets, as appropriate, only when it is probable
that future economic benefit associated with the item will flow to the Company and the cost of item can be measured
reliably. The present value of the expected cost for the decommissioning of an asset after its use is included in the cost
of the respective asset if the recognition criteria for a provision are met.

Derecognition

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or
when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the
asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included
in the income statement when the asset is derecognised.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

D Depreciation and Amortisation

Depreciation on Property, Plant and Equipment is provided on the "Straight-Line Method" over the useful life of assets
as prescribed under Schedule -II of Companies Act''2013. Depreciation for assets purchased/ sold during a period is
proportionately charged.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

E Investment Property

Investment property is property (land or building) held by the company to earn rentals or for capital appreciation or both,
and that is not used by the company for business purpose.

Initial Measurement:

Investment properties are measured initially at their cost of acquisition. The cost comprises purchase price, borrowing
cost, if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the
intended use.

Subsequent Measurement:

Investment properties are subsequently measured in accordance with Cost Model as prescribed in IndAS-40 i.e. at cost
less accumulated depreciation and impairment losses (if any).

Depreciation

Depreciation is calculated on investment properties by applying the Straight Line Method to their residual values over
the useful lives as prescribed under Schedule -II of Companies Act''2013.

Derecognition:

The carrying amount of an item of property is derecognised on disposal or when no future economic benefits are
expected from its use or disposal. The gain or loss arising from the derecognition of an item of property is measured
as the difference between the net disposal proceeds and the carrying amount of the item and is recognised in the
statement of Profit and Loss when the item is derecognised .

F Cash and cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand,
cheques in hand, deposits held at call with financial institutions, other short term highly liquid investments with original
maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value.

G Provision For Current And Deferred Tax

Current 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 enacted in India and tax laws prevailing in the respective tax jurisdictions where the company
operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted,
at the reporting date.

Deferred tax: is provided in full, using the liability method, on temporary differences arising between the tax bases of
assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not
recognized if they arise from the initial recognition of goodwill. Deferred tax is determined using tax rates (and laws)
that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the
related deferred income tax asset is realized or the deferred income tax liability is settled.

H Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

(I) Financial Assets:

The Company classifies its financial assets at Fair value through Other Comprehensive Income (FVOCI) or Fair
value through Profit & Loss (FVTPL).

The classification is based upon two tests namely Business Model Test (BMT) and Contractual Cash Flow Test
(CCFT).

BMT: Where entity''s objective is to hold assets for collecting contractual cash flows.

CCFT: Where contractual cash flows are solely payment of principal and interest on a specified due dates.
Measurement & Recognition of Financial Assets
Investment in Equity Instrument

The company has invested in equity instruments of both listed entities and other unlisted or private companies.
These investments are carried at Fair Value Through Other Comprehensive Income (FVTOCI). As a result, any
changes in the fair value of these instruments are reflected in Other Comprehensive Income (OCI), except for
dividends. Even after the sale of an investment, there is no recycling of the amounts previously recognized in OCI.
However, the company has the option to transfer the cumulative gain or loss within the equity section.

Investment in Mutual Funds

All investments in Mutual funds instruments classified under financial assets are initially measured at fair value.
The Company opted to recognise mutual funds through OCI.

Loans & Advances

The company extended loans and advances to both related and unrelated parties. To ensure proper classification
of these financial assets, the Business Model and Contractual Cash Flow tests must be met. However, the loans
and advances did not pass the Contractual Cash Flow test (CCFT), leading the company to classify them at Fair
Value Through Profit & Loss (FVTPL).

The company has adopted IndAS with a transition date April 01, 2022 for statutory filing. According to IndAS-
101"First time Adoption of Indian Accounting Standard" the company has option to carry loans & advance at its fair
value or it may continue to carry at its historical cost which is known as ''deemed cost''. The company has opted to
carry the loans at deemed cost in pursuance of IndAS-101.

Derecognition

Financial assets are derecognized (removed from the company''s statement of financial position) primarily when:

1. The rights to receive cash flows from the asset have expired, or

2. The company has transferred its rights to receive cash flows to a third party under a ""pass through""
arrangement and either:

a) The company transferred the rights to receive cash flows from the financial asset, or

b) The company retained the contractual right to receive the cash flows but assumes the obligation to pay
them to one or more recipients.

If the company has transferred substantially all the risks and rewards of ownership of the financial assets, the
asset is derecognized. If not, the asset is not derecognized. If the company neither transferred a financial asset
nor retains substantially all risks and rewards of ownership, the financial asset is derecognized if the company has
not retained control of it. If the company retains control, the asset continues to be recognized to the extent of its
continuing involvement in the financial asset.

Impairment

In compliance with Ind AS 109, the company has evaluated and measured its Expected Credit Loss for impairment
loss on financial assets. As of the review period, no such expected loss has been recognized.

(II) Financial Liabilities:

Recognition & Measurements

In accordance with the accounting standards, financial liabilities are initially recorded at their fair value and are
subsequently measured based on either the Fair Value Through Profit & Loss (FVTPL) method or at amortized cost.
The financial liabilities of the company include trade payables, short-term borrowing, and other financial liabilities.
For the purpose of the Restated Financial Statements, all these liabilities are measured at amortized cost.

Derecognition

A financial liability is derecognized from the company''s statement of financial position when the obligation under
the liability is settled, cancelled, or reaches its maturity date. If an existing financial liability is replaced by another
liability from the same lender but with significantly different terms, or if the terms of the existing liability are
substantially modified, this exchange or modification is considered as the derecognition of the original liability and
the recognition of a new liability.

Any difference between the carrying amounts of the original liability and the newly recognized liability is recorded
in the statement of profit and loss.

I Current Assets, Loans & Advances

In the opinion of the Board and to the best of its knowledge and belief the value on realisation of current assets in
the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and
repayable on demand.

J Revenue Recognition

(a) The company generally follows the mercantile system of accounting and recognizes Income & Expenditure on
accrual basis.

(b) Revenue is recognised to the extent that it is possible that, the economic benefits will flow to the company and the
revenue can be reliably estimated and collectability is reasonably assured.

(c) Revenue from sale of goods and services are recognised when control of the products being sold is transferred
to our customer and when there are no longer any unfulfilled obligations. The performance obligations in our
contracts are fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer
terms.

(d) Revenue is measured on the basis of sale price, after deduction of any trade discounts, volume rebates and any
taxes or duties collected on behalf of the Government such as goods and service tax etc. Professional experience
is used to estimate the provision for such discounts and rebates. Revenue is only recognized to the extent that it is
highly probable a significant reversal will not occur.

(e) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate
applicable."

K Foreign Exchange

In preparing the Ind As Financial Statements of the Company, transactions in currencies other than the entity''s functional
currency (foreign currencies) are recognised at the rates of exchange prevailing at the date of the transactions.

At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates
prevailing at that date.

Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

L Related Party Transactions

According to IndAS-24 the company has presented disclosures in "Annexure-A"-RPT.

M Title deeds of immovable property not held in the name of the company:

The Title deed of all immovable properties disclosed in the financial statements included under Property, Plant and
Equipment are held in the name of the Company as at the balance sheet date.

N Revaluation of Property, Plant and Equipment:

The Company has not revalued any of its Property, Plant and Equipment (including right-of-use assets) and intangible
assets during the year.

O Loans and Advances in the nature of loan repayable on demand or without specifying the terms or period of
repayment:

During the year, the company has not granted any Loans or Advances in the nature of loans to the related parties (as
defined under Companies Act, 2013), accordingly the above clause is not applicable.

P Benami Property held:

There is no proceeding have been initiated or pending against the company for holding any benami property under the
Benami Transaction ( prohibition ) Act , 1988 (45 of 1988) and the rules made thereunder.

Q Working capital limits from Banks/FIs on the basis of security of Current Assets

The Company has no borrowings from the banks or financial institutions on the basis of current assets.

R Wilful defaulter

The company is not declared wilful defaulter by any bank or financial Institution or other lender.

S Relationship with struck off Companies

The company has no transaction with companies struck off under section 248 of the Companies Act, 2013 or section
560 of Companies Act, 1956.

T Registration of charge or satisfaction with Registrar of Companies

The company has no charge or satisfaction yet to be registered with Registrar of Companies.

U Compliance with number of layers of Companies

The company has Subsidiary and provisions prescribed under clause (87) of section 2 of the Act read with Companies
( Restriction on numbers of Layers ) Rules , 2017 are complied.

V Compliance with Approved Scheme(s) of Arrangements

During the year under review, the company has not made any application for Scheme of Arrangement. Accordingly, no
approval from the Competent Authority in terms of Section 230 to 237 of the Companies Act, 2013 is required to be
obtained by the company.

W Undisclosed Income

The Company has no such transaction not recorded in the books of account that has been surrendered or disclosed as
income during the year in the tax assessment under the Income Tax Act 1961.

X Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Y Provision

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation
as a result of past events and it is probable that there will be an outflow of resources.

Z Employee Benefit Expenses :

Short Term Employee Benefits : The undiscounted amount of short term employee benefits expected to be paid in
exchange for the services rendered by employees are recognised as an expense during the period when the employees
render the services.

Long Term Employee Benefits : Compensated absences which are not expected to occur within twelve months after the
end of the period in which the employee renders the related service are recognised as a liability as at the Balance Sheet
date on the basis of actuarial valuation as per Projected Unit Credit Method.

Post-Employment Benefits

Defined Contribution Plans A defined contribution plan is a post-employment benefit plan under which the Company
pays specified contributions towards Provident Fund, Employee State Insurance and Pension Scheme. The Company''s
contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee
renders the related service.

Defined Benefit Plans :

(a) Gratuity : The Company offers gratuity plan for its qualified employees which is payable as per the requirements
of Payment of Gratuity Act, 1972. The benefit vests upon completion of five years of continuous service and once
vested it is payable to employees on retirement or on termination of employment. In case of death while in service,
the gratuity is payable irrespective of vesting.

(b) Risk exposure to defined benefit plans:

The plans typically expose the Company to actuarial risks such as: Investment risk, Liquidity risk, Market risk and
Legislative risk.

Actuarial risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:
Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into
an increase in Obligation at a rate that is higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the
Gratuity Benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the
acceleration of cash flow will lead to an actuarial loss or gain depending on the relative values of the assumed
salary growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than
the Gratuity Benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are
vested as at the resignation dale.

Investment risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not
be the fair value of instruments backing the liability. In such cases, the present value of the assets is independent
of the future discount rate. This can result in wide fluctuations in the net liability or the funded status if there are
significant changes in the discount rate during the inter-valuation period.

Liquidity risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of
benefits. If some of such employees resign/retire from the company there can be strain on the cash flows.

Market risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets
One actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value
of money. An increase in discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice
versa. This assumption depends on the yields on the corporate/government bonds and hence the valuation of
liability is exposed to fluctuations in the yields as at the valuation date.

Legislative risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the
legislation/regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to

Note: Out of the total defined obligation as on March 31, 2025 the company recognises 8.13 lakhs as Gratuity
payable and balance 9.88 lakhs is recognised as Provision for Gratuity.

Major Assumptions

i) Retirement Age is 60 Years, added One year to the Current Age.

ii) Discount Rate taken 6.69% (Last year- 7.18 %)

iii) Salary Growth Rate taken 8.00 %

iv) Withdrawal Rate taken 10.00%

v) Mortality Rate 100 % of IALM 2012-2014

AA Earnings Per Share

The Company reports Basic and Diluted earnings per equity share in accordance with the Indian Accounting Standard - 33
''Earning Per Share''. In determining earning per share, the Company considers the net profit after tax and includes the
post tax effect of any extraordinary/exceptional items. The number of shares used in computing basic earning per
share is the weighted average number of equity shares outstanding during the period. The number of shares used in
computing diluted earning per share comprises the weighted average number of equity shares that would have been
issued on the conversion of all potential equity shares. Dilutive potential equity shares have been deemed converted as
of the beginning of the period, unless issued at a later date.

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Mar 31, 2024

1 SIGNIFICANT ACCOUNTING POLICIES & NOTES ON FINANCIAL STATEMENT :

A Basis of Preparation of Financial Statements

These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act, 2013 (''the Act'') (to the extent notified). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

The Company has adopted all the Ind AS standards and the adoption was carried out in accordance with Ind AS 101, First-Time Adoption of Indian Accounting Standards. The transition was carried out from Indian Accounting Principles generally accepted in India as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP Reconciliations and descriptions of the effect of the transition have been summarized in Note 37.AI.

Accounting policies 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 hitherto in use.

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 products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the company ascertains its operating cycle for the purpose of current/non-current classification of assets and liabilities.

B Use of Estimates

The preparation of the Financial Statements in conformity with IndAS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amount of income and expenses during the period. Examples of such estimates includes future obligation with respect to employees benefits, income taxes, useful lives of fixed assets etc. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates. Difference between the actual results and estimates are recognised in the period in which the results are known / materialised.

C Property, Plant & Equipment and Intangible Assets

Transition to INDAS for presentation of Restated Financial Statements

On transition to Ind AS, the Company has elected to continue with the carrying value of all the items of property, plant and equipment recognized as at 01 April,2022, measured as per the previous GAAP, and use that carrying value as the deemed cost of such property, plant and equipment.

Intial Measurement & Subsequent recognition

''The Property, Plant and Equipment & Intangible Assets are stated at cost, less accumulated depreciation and impairment ,if any. Direct costs are capitalised until such assets are not put to use. The cost comprises of purchase price, taxes, duties, freight and other incidental expenses directly attributable and related to acquisition and installation of the concerned assets and are further adjusted by the amount of input tax credit availed wherever applicable. Subsequent costs are included in asset''s carrying amount or recognised as separate assets, as appropriate, only when it is probable that future economic benefit associated with the item will flow to the Company and the cost of item can be measured reliably. The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met.

Derecognition

''An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognised.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate."

D Depreciation and Amortisation

Depreciation on Property, Plant and Equipment is provided on the ""Straight-Line Method"" as prescribed under Schedule -II of Companies Act''2013 over the useful life of assets estimated by the Management. Depreciation for assets purchased/ sold during a period is proportionately charged.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

E Investment Property

Investment property is property (land or building) held by the owner to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes or sale in the ordinary course of business.

InitialMeasurement:

Investment properties are measured initially at their cost of acquisition. The cost comprises purchase price, borrowing cost, if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use.

Subsequent Measurement:

Investment properties are subsequently measured in accordance with Cost Model as prescribed in IndAS-40 i.e. at cost less accumulated depreciation and impairment losses (if any).

Depreciation

Depreciation is calculated on investment properties by applying the Straight Line Method to their residual values over the useful lives.

Derecognition:

The carrying amount of an item of property is derecognised on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss arising from the derecognition of an item of property is measured as the difference between the net disposal proceeds and the carrying amount of the item and is recognised in the statement of Profit and Loss when the item is derecognised

Disposal:

Any gain or loss on disposal of an Investment Property is recognised in the Standalone Statement of Profit and Loss.

F Cash and cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

G Provision For Current And Deferred Tax

Current 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 enacted in India and tax laws prevailing in the respective tax jurisdictions where the company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

Deferred tax: is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled.

H Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

(I) Financial Assets:

The Company classifies its financial assets at Fair value through Other Comprehensive Income (FVOCI) or Fair value through Profit & Loss (FVTPL)

The classification is based upon two tests namely Business Model Test (BMT) and Contractual Cash Flow Test (CCFT). BMT: where entity''s objective is to hold assets for collecting contractual cash flows.

CCFT: Where contractual cash flows are solely payment of principal and interest on a specified due dates." Measurement & Recognition of Financial Assets Investment in Equity Instrument

''The company has invested in equity instruments of both listed entities and other unlisted or private companies. These investments are carried at Fair Value Through Other Comprehensive Income (FVTOCI). As a result, any changes in the fair value of these instruments are reflected in Other Comprehensive Income (OCI), except for dividends. Even after the sale of an investment, there is no recycling of the amounts previously recognized in OCI. However, the company has the option to transfer the cumulative gain or loss within the equity section.

Investment in Mutual Funds

All investments in Mutual funds instruments classified under financial assets are initially measured at fair value. The Company opted to recognise mutual funds through OCI.

Loans & Advances

The company extended loans and advances to both related and unrelated parties. To ensure proper classification of these financial assets, the Business Model and Contractual Cash Flow tests must be met. However, the loans and advances did not pass the Contractual Cash Flow test (CCFT), leading the company to classify them at Fair Value Through Profit & Loss (FVTPL).

The company has adopted IndAS with a transition date April 01,2022 for statutory filing, According to IndAS-101""First time Adoption of Indian Accounting Standard"" the company has option to carry loans & advance at its fair value or it may continue to carry at its historical cost which is known as ''deemed cost''. The company has opted to carry the loans at deemed cost in pursuance of IndAS-101.

Derecognition

Financial assets are derecognized (removed from the company''s statement of financial position) primarily when:

1. The rights to receive cash flows from the asset have expired, or

2. The company has transferred its rights to receive cash flows to a third party under a ""pass through"" arrangement and either:

a) The company transferred the rights to receive cash flows from the financial asset, or

b) The company retained the contractual right to receive the cash flows but assumes the obligation to pay them to one or more recipients.

If the company has transferred substantially all the risks and rewards of ownership of the financial assets, the asset is derecognized.

If not, the asset is not derecognized. If the company neither transferred a financial asset nor retains substantially all risks and rewards of ownership, the financial asset is derecognized if the company has not retained control of it. If the company retains control, the asset continues to be recognized to the extent of its continuing involvement in the financial asset.

Impairment

In compliance with Ind AS 109, the company has evaluated and measured its Expected Credit Loss for impairment loss on financial assets. As of the review period, no such expected loss has been recognized.

(11) Financial Liabilities:

Recognition & Measurements

In accordance with the accounting standards, financial liabilities are initially recorded at their fair value and are subsequently measured based on either the Fair Value Through Profit & Loss (FVTPL) method or at amortized cost. The financial liabilities of the company include trade payables, short-term borrowing, and other financial liabilities. For the purpose of the Restated Financial Statements, all these liabilities are measured at amortized cost.

Derecognition

A financial liability is derecognized from the company''s statement of financial position when the obligation under the liability is settled, cancelled, or reaches its maturity date. If an existing financial liability is replaced by another liability from the same lender but with significantly different terms, or if the terms of the existing liability are substantially modified, this exchange or modification is considered as the derecognition of the original liability and the recognition of a new liability.

Any difference between the carrying amounts of the original liability and the newly recognized liability is recorded in the statement of profit and loss.

I Current Assets, Loans & Advances

In the opinion of the Board and to the best of its knowledge and belief the value on realisation of current assets in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and repayable on demand.

J Revenue Recognition

(a) The company generally follows the mercantile system of accounting and recognizes Income & Expenditure on accrual basis.

(b) Revenue is recognised to the extent that it is possible that, the economic benefits will flow to the company and the revenue can be reliably estimated and collectability is reasonably assured.

(c) Revenue from sale of goods and services are recognised when control of the products being sold is transferred to our customer and when there are no longer any unfulfilled obligations. The performance obligations in our contracts are fulfilled at the time of dispatch, delivery or upon formal customer acceptance depending on customer terms.

(d) Revenue is measured on the basis of sale price, after deduction of any trade discounts, volume rebates and any taxes or duties collected on behalf of the Government such as goods and service tax etc. Professional experience is used to estimate the provision for such discounts and rebates. Revenue is only recognized to the extent that it is highly probable a significant reversal will not occur.

(e) Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.

K Foreign Exchange

In preparing the Ind As Financial Statements of the Company, transactions in currencies other than the entity''s functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the date of the transactions.

At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

L Related Party Transactions

According to IndAS-24 the company has presented disclosures in ""Annexure-A""-RPT.

M Title deeds of immovable property not held in the name of the company:

The Title deed of all immovable properties disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

N Revaluation of Property, Plant and Equipment:

The Company has not revalued any of its Property, Plant and Equipment (including right-of-use assets) and intangible assets during the year.

O Loans and Advances in the nature of loan repayable on demand or without specifying the terms or period of repayment:

During the year, the company has not granted any Loans or Advances in the nature of loans to the related parties (as defined under Companies Act, 2013), accordingly the above clause are not applicable.

P Benami Property held:

There is no proceeding have been initiated or pending against the company for holding any benami property under the Benami Transaction ( prohibition ) Act , 1988 (45 of 1988) and the rules made thereunder.

Q Working capital limits from Banks/FIs on the basis of security of Current Assets

The Company has no borrowings from the banks or financial institutions on the basis of current assets.

R Wilful defaulter

The company is not declared wilful defaulter by any bank or financial Institution or other lender.

S Relationship with struck off Companies

The company has no transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

T Registration of charge or satisfaction with Registrar of Companies

The company has no charge or satisfaction yet to be registered with Registrar of Companies.

U Compliance with number of layers of Companies

The company has Subsidiary and provisions prescribed under clause (87) of section 2 of the Act read with Companies ( Restriction on numbers of Layers ) Rules , 2017 are complied.

V Compliance with Approved Scheme(s) of Arrangements

During the year under review, the company has not made any application for Scheme of Arrangement. Accordingly, no approval from the Competent Authority in terms of Section 230 to 237 of the Companies Act, 2013 is required to be obtained by the company."

W Undisclosed Income

The Company has no such transaction not recorded in the books of account that has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act 1961

X Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Y Provision

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Z Employee Benefit Expenses :

Short Term Employee Benefits : The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees are recognised as an expense during the period when the employees render the services.

Long Term Employee Benefits : Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders the related service are recognised as a liability as at the Balance Sheet date on the basis of actuarial valuation as per Projected Unit Credit Method

Post-Employment Benefits

Defined Contribution Plans A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions towards Provident Fund, Employee State Insurance and Pension Scheme. The Company''s contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee renders the related service.

Defined Benefit Plans :

(a) Gratuity : The Company offers gratuity plan for its qualified employees which is payable as per the requirements of Payment of Gratuity Act, 1972. The benefit vests upon completion of five years of continuous service and once vested it is payable to employees on retirement or on termination of employment. In case of death while in service, the gratuity is payable irrespective of vesting.

(b) Risk exposure to defined benefit plans:

The plans typically expose the Company to actuarial risks such as: Investment risk, Liquidity risk, Market risk and Legislative risk.

Actuarial risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in Obligation at a rate that is higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity Benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of cash flow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the Gratuity Benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at the resignation dale. Investment risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair value of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount rate during the inter-valuation period.

Liquidity risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some of such employees resign/retire from the company there can be strain on the cash flows.

Market risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets One actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An increase in discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa. This assumption depends on the yields on the corporate/government bonds and hence the valuation of liability is exposed to fluctuations in the yields as at the valuation date.

Legislative risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher benefits to the employees. This will directly affect the present value of the Defined Benefit Obligation and the same will have to be recognized immediately in the year when any such amendment is effective.

Major Assumptions :--

i) Retirement Age is 60 Years, added One year to the Current Age.

ii) Discount Rate taken 7.18%

iii) Salary Growth Rate taken 8.00 %

iv) Withdrawal Rate taken 10.00%

v) Mortality Rate 100 % of IALM 2012-2014

AA Earning Per Share

The Company reports Basic and Diluted earnings per equity share in accordance with the Indian Accounting Standard - 33 ''Earning Per Share''. In determining earning per share, the Company considers the net profit after tax and includes the post tax effect of any extraordinary/exceptional items. The number of shares used in computing basic earning per share is the weighted average number of equity shares outstanding during the period. The number of shares used in computing diluted earning per share comprises the weighted average number of equity shares that would have been issued on the conversion of all potential equity shares. Dilutive potential equity shares have been deemed converted as of the beginning of the period, unless issued at a later date.

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Mar 31, 2023

1 SIGNIFICANT ACCOUNTING POLICIES & NOTES :

A 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 specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

The financial statements have been prepared on an accrual basis except as otherwise stated.

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 products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the Company ascertains its operating cycle for the purpose of current/non-current classification of assets and liabilities.

B Presentation and disclosure of financial statements

During the year ended 31st March 2015,Schedule III notified under the Companies Act 2013 , has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule III does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements. The Company has also reclassified the previous year figures in accordance with the requirements applicable in the current year.

The schedule III allows line items, sub-line items and sub-totals to be presented as an addition or substitution on the face of the financial statements when such presentation is relevant to an understanding of the company''s financial position or performance or to cater to industry/sector-specific disclosure requirements.

C Use Of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period end. Although these estimates are based upon management’s best knowledge of current events and actions, actual results could differ from these estimates.

D Miscellaneous Expenditure (To The Extent Not Written Off Or Adjusted)

The amount of preliminary expenses has been written off over a period of 5 years as per the provison of Sec 35 of Income Tax Act''1961.

E Property, Plant And Equipments & Intangible Assets

(i) T angible Assets

Property, plant and equipment (PPE), being fixed assets are tangible items held for use or for administrative purposes and are measured at cost less acumulated depreciation ans any accumulated impairment. Cost comprises of the purchase price including import duties and nonrefundable purchase taxes after deducting trade discounts and rebates and any costs attributable to bringing the asset to the location and condition necessery for it to be capable of operating in the manner intended by the Management. Financing costs relating to acquisition of assets relating to acquisition of assets which take substantial period of time to get ready for intended use are also included to the extent they relate to the period up to such assets are ready for their intended use.

Gains or losses arising from derecognition of property, plant & equipment are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the asset is derecnized. the residual values, useful lives and methods of depreciation of property, plant & equipment are reviewed at each financial year end and adjusted preospectively, if appropriate.

(ii) Intangible Assets

Intangible Assets are recognised only if it is probable that future economic benefits that are attributable to the asset will flow to the enterprise and the cost of the asset can be measured reliably.

F Depreciation and Amortisation

Depreciation on Property, Plant and Equipments is provided on the straight-line method over the usful life of assets and manner prescribed under schedule-II of the Companies Act, 2013 estimated by the Management. Depreciation for assets purchased/ sold during a period is proportionatly charged.

G Cash and 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.

H Provision For Current And Deferred Tax

Tax expense comprises 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 enacted in India and tax laws prevailing in the respective tax jurisdictions where the company operates. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

I Investments

Investments, which are readily realizable and intended to be held for not more than 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. On initial recognition, all investments are measured at cost.The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees and duties. Both current investments and long term investments are carried in the financial statements at cost. 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.

J Current Assets, Loans & Advances

In the opinion of the Board and to the best of its knowledge and belief the value on realisation of current assets in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and repayable on demand.

K Recognition of Income & Expenditure

Income and expenditure is recognized and accounted for on accrual basis. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue from sale of goods is recognised on transfer of significant risks and rewards of ownership to the customer and when no significant uncertainty exists regarding realisation of the consideration. Sales are recorded net of sales returns, GST, cash and trade discounts.

L Foreign Exchange Gain/(Loss)

During the year the company has not recognised any Foreign Exchange Gain or Loss.

M Related Party T ransactions

As per Accounting Standard 18, notified in the companies Rules 2006, the disclosure of Related Party Transaction is as per Annexure II

^N Title deeds of immovable property not held in the name of the company:

The Title deed of all immovable properties disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

^O Revaluation of Property, Plant and Equipment:

The Company has not revalued any of its Property, Plant and Equipment (including right-of-use assets) and intangible assets during the year.

P Loans and Advances in the nature of loan repayable on demand or without specifying the terms or period of repayment:

The Company has not granted any Loans & Advances in the nature of Loans to its promotors, directors, KMPs and the related parties ( as defined under Companies Act 2013,) either severally or jointly with any other person

^Q Benami Property held:

There is no proceeding have been initiated or pending against the company for holding any benami property under the Benami Transaction ( prohibition ) Act , 1988 (45 of 1988) and the rules made thereunder.

^R Working capital limits from Banks/FIs on the basis of security of current assets

The Company has no borrowings from the banks or financial institutions on the basis of current assets.

^S Wilful defaulter

The company is not declared wilful defaulter by any bank or financial Institution or other lender.

^T Relationship with struck off Companies

The company has no transaction with companies struck off under section 248 of the companies Act 2013 or section 560 of Companies Act 1956.

^U Registration of charge or satisfaction with Registrar of Companies

The company has no charge or satisfaction yet to be registered with Registrar of Comnapnies.

^V Complaince with number of layers of companies

The company has no Subsidiary therefore provisions prescribed under clause (87) of section 2 of the Act read with Companies ( Restriction on numbers of Layers ) Rules , 2017 not applicable to us.

^W Compliance with approved Scheme(s) of Arrengements

During the year under review, the company has not made any application for Scheme of Arrangement. Accordingly, no approval from the Competent Authority in terms of Section 230 to 237 of the Companies Act, 2013 is required to be obtained by the company.

^X Undisclosed Income

The Company has no such transaction not recorded in the books of account that has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act 1961

^Y Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Z Provision

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

AB Earning Per Share

The Company reports Basic and Diluted earnings per equity share in accordance with the Accounting Standard - 20 on Earning Per Share. In determining earning per share, the Company considers the net profit after tax and includes the post tax effect of any extraordinary/exceptional items. The number of shares used in computing basic earning per share is the weighted avergae number of equity shares outstanding during the period. The numbers of shares used in computing diluted earning per share comprises the weighted average number of equity shares that would have been issued on the conversion of all potential equity shares. Dilutive potential equity shares have been deemed converted as of the beginning of the period, unless issued at a later date.

^AC Employee Benefit Expenses :

Short Term Employee Benefits : The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees are recognised as an expense during the period when the employees render the services.

Long Term Employee Benefits : Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders the related service are recognised as a liability as at the Balance Sheet date on the basis of actuarial valuation as per Projected Unit Credit Method