Notes to Accounts of Naman In-Store (India) Ltd.

Mar 31, 2025

T. Provisions and contingencies (AS : 29)

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists
and it is probable that an outflow of resources embodying economic benefits will be required to settle such obligation
and the amount of such obligation can be reliably estimated.

A disclosure of contingent liability is also made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. Where there is possible obligation or a present obligation in respect
of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

U. Segment reporting (AS : 17)

Company is in manufacturing of customized Retail Store fixtures & Furniture''s in Wood, Metal, Plastic, Display fixtures
& Furniture''s, Indoor fixtures, Full Shops, CTU, CDU, POSM merchandising etc. which is considered as the only
reportable segment. The Company''s operations are based in India. There are no reportable geographical segment.

V. Measurement of EBITDA

As permitted by the Guidance Note on the Revised Schedule III to the Act, the Company has elected to present earnings
before interest, tax, depreciation and amortization (EBITDA) as a separate line item on the face of the statement
of profit and loss. The Company measures EBITDA on the basis of profit/ (loss) from continuing operations. In its
measurement, the company does not include depreciation and amortization expense, finance costs and tax expense.

W. Extra - ordinary & Exceptional Items (AS : 5)

Income or Expenses that arise from events or transactions that are clearly distinct from the ordinary activities of
the Company are classified as extraordinary items. Specific disclosure of such events/transactions are made in the
financial statement. Similarly, any external events beyond the control of the Company, significantly impacting income
or expenses, is also treated as extraordinary item and disclose as such.

On certain occasions, the size, type or incidents of an item of income or expense, pertaining to the ordinary activities of
the Company, is such that its disclosure improves an understanding of the performance of the Company. Such income
or expense is classified as an exceptional item & accordingly disclosed in the notes of accounts.

X. Disclosure of Accounting Policies (AS: 1)

The accounting policies have been disclosed to the extent applicable to the company.

Note 33 : Employee Benefits
a) Gratuity - Defined Benefit Plans:

The gratuity benefit payable to the employees of the Company is as per the provisions of the Payment of Gratuity Act,
1972, as amended. Under the gratuity plan, every employee who has completed at least 5 years of service gets gratuity
on separation or at the time of superannuation calculated for equivalent to 15 days salary for each completed year
of service calculated on last drawn basic salary. The Company does not have a funded plan for gratuity liability upto
March 2022. Post March 2022 Company has started Funded Gratuity.

Note 42 : Additional Regulatory Information

a) Details of Benami Property held: No proceeding has been initiated or pending against the company for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

b) Wilful Defaulter: The company has not been declared a wilful defaulter by any bank or financial Institution or other
lender.

c) Relationship with Struck off Companies - The company do not have any transactions or balances with companies
struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

d) Registration of charges or satisfaction with Registrar of Companies (ROC)

There are some charges or satisfaction or modifications yet to be registered with Registrar of Companies beyond the
statutory period which are as follows:

e) Utilisation of Borrowed funds and share premium:

i. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(is), including foreign entities (Intermediaries) with
the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

1. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or
on behalf of the company (Ultimate Beneficiaries) or

2. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

ii. The company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall-

1. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or
on behalf of the Funding Party (Ultimate Beneficiaries) or

2. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) Compliance with number of layers of companies- The Company has complied with the number of layers prescribed
under the Companies Act, 2013.

g) Details of Crypto Currency or Virtual Currency- The Company have not traded or invested in Crypto currency or
Virtual Currency during the financial year.

h) Undisclosed Income- The Company do not have any such transaction which is not recorded in the books of accounts
that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,
1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

i) Compliance with approved Scheme(s) of Arrangements- The Company is not under any scheme of Arrangements as
prescribed under section 230 to 237 of the Companies Act, 2013. Hence, there is no effect of such schemes in the
books of accounts as at the end of the year.

Note 43 : Borrowings from banks and financial institution on the basis security of the assets

The Company has been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate, at points of time during
the year, from banks on the basis of security of current assets. Quarterly returns filed by the Company with such banks are
not in agreement with the unaudited books of accounts of the Company for respective periods and there are no material
discrepancies.

Note 44 : The financial statements are presented in Indian Rupees (‘INR'') in Lakhs rounded off to two decimal places as
required by Schedule III to the Companies Act, 2013.

Note 45 : The company has issued 28,48,000 equity shares of ? 10 each at a premium of ? 79 each by way of initial public
offer (“IPO”) and got listed on Emerge Platform of National Stock Exchange of India Limited on April 2, 2024. The Company
has also issued 25,17,980 equity shares of ? 10 each at a premium of ? 129 each by way of Preferential Allotment in F.Y.
2024-2025 on 7th October 2024.

Note 46 : *The unutilized amount of the Preferential Issue is invested in the Fixed Deposits.

Note 47 : The Company is engaged in the manufacturing of customized retail store fixtures & furniture made from wood,
metal, plastic and other materials. This includes display fixtures & furniture, indoor fixtures, full Shops, CTU, CDU, POSM
merchandising etc. and there are no separate reportable segments as per Accounting Standard (AS-17) “Segment Reporting”

As per our report attached here with For and on behalf of the board of

For RUSHABH DAVDA & ASSOCIATES Naman In-Store (India) Limited

Chartered Accountants

ICAI Firm Reg. No. 156559W

Sd/- Sd/- Sd/-

CA Rushabh K Davda Raju M. Paleja Foram Desai

Proprietor Chairman and Managing Director Whole-time Director

Membership No. 188053 DIN : 03093108 DIN :08768092

Peer Review No. 016545

Sd/- Sd/-

Trupti Gothankar Roshni Tiwari

Chief Financial Officer Company Secretary and Compliance Officer

Mumbai

Date : 16-05-2025

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Mar 31, 2024

B. Terms Rights and Restrictions attached to Shares:

Equity Shares

The Company has one class of equity shares having a par value of Rs.10/- each. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

During the year ended 31st March, 2024, the amount of per share dividend recognised as distribution to equity shareholders was Rs. Nil/-.

The Company has not issued or allotted any shares as fully paid-up pursuant to a contract(s) without payment being received in cash or bought back any shares during the financial year under review. However the Company had issued and allotted 63,00,000 (Sixty Three Lakhs) fully paid-up equity shares having a nominal value of INR 10/- (Rupees Ten each) to its existing members as Bonus issue during the financial years under review.

During the year current year as well as in the previous year, the Company has not capitalized any borrowing cost in the absence of any qualifying assets.

Note 28 : Title deeds of immovable properties not held in the name of company

There is no property held by the company for which title deed is not in the name of the company. During the year the company has not revalued the Property Plant and Equipment.

Note 29 : Loans or Advances in nature of loans granted to promoters, directors, KMPs, and the related parties (severally or jointly)

The company has not granted any loans to promoters, directors, KMPs and the related parties.

Note 32 : Employee Benefits a) Gratuity - Defined Benefit Plans:

The gratuity benefit payable to the employees of the Company is as per the provisions of the Payment of Gratuity Act, 1972, as amended. Under the gratuity plan, every employee who has completed at least 5 years of service gets gratuity on separation or at the time of superannuation calculated for equivalent to 15 days salary for each completed year of service calculated on last drawn basic salary. The Company does not have a funded plan for gratuity liability upto March 2022.

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders (after adjusting for interest on the convertible preference shares) by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The provisions of CSR are applciable to the company from FY 2023-24, accordingly the necessary compliance under the provisions of Companies Act, 2013 is under process and will be completed within the specified timelines.

a) Details of Benami Property held: No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

b) Wilful Defaulter: The company has not been declared a wilful defaulter by any bank or financial Institution or other lender.

c) Relationship with Struck off Companies - The company do not have any transactions or balances with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

d) Registration of charges or satisfaction with Registrar of Companies (ROC)

The company has registered all the charges or satisfaction as required with the Registrar of Companies within the statutory period

e) Utilisation of Borrowed funds and share premium:

i. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

1. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

2. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

ii. The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall-

1. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

2. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) Compliance with number of layers of companies- The Company has complied with the number of layers prescribed under the Companies Act, 2013.

g) Details of Crypto Currency or Virtual Currency- The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

h) Undisclosed Income- The Company do not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

i) Compliance with approved Scheme(s) of Arrangements- The Company is not under any scheme of Arrangements as prescribed under section 230 to 237 of the Companies Act, 2013. Hence, there is no effect of such schemes in the books of accounts as at the end of the year.

The Company has been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate, at points of time during the year, from banks on the basis of security of current assets. Quarterly returns filed by the Company with such banks are not in agreement with the unaudited books of accounts of the Company for respective periods and there are no material discrepancies.

Note 42 : The financial statements are presented in Indian Rupees (‘INR'') in Lakhs rounded off to two decimal places as required by Schedule III to the Companies Act, 2013.

Note 43 : The company has issued 28,48,000 equity shares of ? 10 each at a premium of ? 79 each by way of initial public offer (“IPO”) and got listed on Emerge Platform of National Stock Exchange of India Limited on April 2, 2024.

Note 44 : Previous year''s figures have been regrouped and rearranged to correspond with the figures of current year wherever necessary.

Note 45 : The Company is in manufacturing of customized Retail Store fixtures & Furniture''s in Wood, Metal, Plastic, Display fixtures & Furniture''s, Indoor fixtures, Full Shops, CTU, CDU, POSM merchandising etc. and there are no separate reportable segments as per Accounting Standard (AS-17) “Segment Reporting”