Notes to Accounts of Shine Fashions (India) Ltd.

Mar 31, 2025

1.14 Provisions, Contingent Liabilities and Contingent Assets

A Provision is recognized when the Company has a present obligation as a result of past event and
it is probable that an outflow of resources will be required to settle the obligation, in respect of
which reliable estimate can be made. Provisions are reviewed at each Balance Sheet date and
adjusted to reflect the current best estimates. Contingent Liabilities are not recognized in the
financial statements. Contingent Assets are neither recognized nor disclosed in the financial
statements.

1.15 Earnings per Equity Share

Basic earnings per share is calculated by dividing the net profit or loss after tax 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 or loss
for the period attributable to equity shareholders and the weighted average number of shares
outstanding during the period is adjusted for the effects of all dilutive potential equity shares.
Potential equity shares are anti-dilutive when their conversion to equity shares would increase
earnings per share from continuing ordinary activities or decrease loss per share from continuing
ordinary activities.

31 Segment Reporting

As the Company''s business activity primarily falls within a single business and geographical segment, there are no
additional disclosures to be provided in terms of Accounting Standard 17 on ''Segment Reporting''.

32 In the opinion of the Board, Current Assets and Loans and Advances have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the Balance Sheet.

33 Creditors, Debtors (Including Credit Balances) Advances etc, are subject to confirmation and reconciliation.

34 The Company does not have any Benami property, where any proceeding has been initiated or pending against the

35 The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a

36 The Company does not have any transactions with struck-off companies.

37 The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies

38 The Company has one subsidiary viz ShineTex Industries Pvt Ltd

39 The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or

40 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign
entities(intermediaries), with the understanding 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.

41 The Company has not received any funds 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 to or on behalf of the Ultimate Beneficiaries.

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

43 The Government of India, on September 20,2019, vide the Taxation Laws (Amendment) Ordinance 2019, inserted a new
section 115BAA in the Income Tax Act, 1961, which provides an option to the Company for paying Income Tax at reduced
rates as per the provisions/conditions defined in the said section. The Company has opted to continue with the Section
115BAA regime for the current financial year.

44 The figures of previous year have been regrouped / reclassified wherever necessary.

As per our report of even date For and on Behalf of the Board

For Thakur Vaidyanath Aiyar & Co

Chartered Accountants

Firm Registration No.; 000038N

SD/- SD/-

Bjay Prakash Sinha Anish A. Mehta Anil Z. Mehta

Partner Director Director

Membership No.: 095817 DIN: 08560153 DIN: 08560132

Place: Mumbai
Date: 6th May, 2025

UDIN No. 25095817BMLKYB7621 SD/- _SD/

Poonam R Sangwani Binal Mehta

Company Secretary CFO

_ACS: 40142_

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Mar 31, 2024

1.14 Provisions, Contingent Liabilities and Contingent Assets

A Provision is recognized when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent Liabilities are not recognized in the financial statements. Contingent Assets are neither recognized nor disclosed in the financial

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1.15 Earnings per Equity Share

Basic earnings per share is calculated by dividing the net profit or loss after tax 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 or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares. Potential equity shares are anti-dilutive when their conversion to equity shares would increase earnings per share from continuing ordinary activities or decrease loss per share from continuing

31 Segment Reporting

As the Company''s business activity primarily falls within a single business and geographical segment, there are no additional disclosures to be provided in terms of Accounting Standard 17 on ''Segment Reporting''.

32 In the opinion of the Board, Current Assets and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

33 Creditors, Debtors (Including Credit Balances) Advances etc, are subject to confirmation and reconciliation.

34 The Company does not have any Benami property, where any proceeding has been initiated or pending against the

35 The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a

36 The Company does not have any transactions with struck-off companies.

37 The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies

38 The Company has one subsidiary viz ShineTex Industries Pvt Ltd

39 The Company does not have any transactions which is not recorded in the books of accounts but has been

40 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities(intermediaries), with the understanding 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.

41 The Company has not received any funds 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 to or on behalf of the Ultimate Beneficiaries.

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

43 The Government of India, on September 20, 2019, vide the Taxation Laws (Amendment) Ordinance 2019, inserted a new section 115BAA in the Income Tax Act, 1961, which provides an option to the Company for paying Income Tax at reduced rates as per the provisions/conditions defined in the said section. The Company has opted to continue with the Section 115BAA regime for the current financial year.

44 The figures of previous year have been regrouped / reclassified wherever necessary.

As per our report of even date For and on Behalf of the Board

For Thakur Vaidyanath Aiyar & Co

Chartered Accountants Firm Registration No.; 000038N

C V Parameswar Anish A. Mehta Anil Z. Mehta

Partner Director Director

Membership No.: 011541 DIN: 08560153 DIN: 08560132

Place: Mumbai Date: 28th May, 2024

Poonam R Sangwar Binal Mehta

Company Secretary CFO

_ACS: 40142_