Notes to Accounts of Supershakti Metaliks Ltd.

Mar 31, 2025

3.10 PfouIslofU, Contingent Uabjjjjjei ind Contingent Assets
gfflvjtians md Contingent Ufbllltlgj

A Provision is recognised when the Company has present obligation as a result of a past event and it is probable that an outflow of resources will be required to setllc
the obligation in respect of which a reliable estimate can be made. Provisions are discounted to their present value, where the time value of money is material.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as a separata
asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Contingent liability is a passible obligation arising from past events and the existence of which will be confirmed only by the occurrence or non-occurrence of one or
mare uncertain future events not wholly within the control of the Company or a present obligation that arises from past events but is not recognised because it is flOl
passible that an outflow of resources embodying economic benefit will be required to settle the obligations or reliable estimate of the amount of the obligations cannot
be made. The Company discloses the existence of contingent liabilities in Other Notes to Financial Statements.

In cases where the possible outflow of economic resources as a result of present obligation is considered improbahle or remote, no Provision is recognised or diteloiuic
| is made,

Contingent Assets

Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic benefits. Contingent Assets are not
recognised though are disclosed, where an inflow of economic benefits is probable.

3.11 gjult^aiid Reservei

Share Capital represents the nominal value of shares that have been issued. Securities premium includes any premium received on issue of Share Capital-
Other components of equity Include the following:

¦ Re-measurementof defined benefit liability comprises the actuarial gain or loss from changes in demographic and financial assumptions and return on plan assets.

¦ Change in fair value of investment in equity instrument designated as Fair Value through Other Comprehensive Income (FVTQCI).

- General Reserve is created mainly on the account of amalgamation.

¦ Retained earnings include all current and prior period retained profits.

3.12 ^^da!insirumi!ltt

A Financial instrument is a contract that gives rise to a financial asset of ore entity and a financial liability cr equity instrument of another entity.

Hecomltlon. InllW in«H»an«it »nd de-recctnlHon:

Financial assets and financial liabilities are recognised and are measured initially at fair value adjusted by transactions costs, except for those financial assets which afe
classified at Fair Value through Profit & Loss (FVTPL) at inception.

Financial assets are derecognised when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and all substantial risks and
rewards are transferred. A financial liability is derecognized when it is extinguished, discharged, cancelled or expired.
elimination ind tumwmtnt mc«unmcnm( financial

Far the purpose of subsequent measurement, financial assets are classified into the following categories upon initial recognition:

¦ amortised cost

¦ financial assets at fair value through profit or loss {FVTPL]

¦ financial assets at fair value through other comprehensive income (FVGC1]

All financial assets except for those at FVTPL are subject to review for impairment at least at each reporting date.

Amortised cost

A Financial asset is measured at amortised cost using effective interest rates if both aFthe following conditions are met;

a] the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and

b] the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest an the principal amount
outstanding.

fjpan£ifl!_a55fiHatfVI£l

Financial assets at FVTPL include financial assets that either do not meet the criteria for amortised cost classification or that are equity instruments held for trading Of
that meet certain conditions and are designated at FVTPL upon initial recognition. All derivative financial instruments also fall into this category. Assets in this caivflaiy
are measured at fair value with gains or losses recognized in profit or loss. The fair values of financial assets in this category are determined by reference to active
market transactions or using a valuation technique where no active market exists.

Financial assets at FVOCI

FVQC1 financial assets are either debt instruments that are managed under held to collect and sell business model or are non-trading equity instruments that are
irrevocable designated to this category at inception.

FVOCI financial assets are measured at fair value. Gains and losses are recognized in other comprehensive income, except for interest and dividend income, impairment
lasses and foreign exchange differences on monetary assets, which are recognized in statement of profit or loss-

gagjBaitefljgi aattmfflU gf nn*ncm iialiiltttei

Financial liabilities are measured subsequently at amortized cost using the effective interest method, except for financial liabilities held for trading or designated al
FVTPL, that are carried subsequently at fair value with gains or lasses recognized in profitor loss. All derivative financial instruments are accounted for at FVTPL,

Embedded Derivatives

Derivatives embedded in non-derivative host contracts are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics
_are not closely related to those of the host contracts and the contracts an not measured at FVTPL

impairment of Financial Assets

In accordance with IndAS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss for financial assets

ECl is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to
receive,

irade Receivables

The Company applies approach as specified in Indian Accounting Standards (Ind AS) 109 Financial Instruments, which requires expected lifetime losses to he recognised
from initial recognition of receivables.

Pfrff FLflflflttaljflfigeB

For recognition of impairment loss on other financial assets and risk exposure, the Company determines whether there has been a significant increase in the credit risk
since initial recognition
Financial guarantee COnliafls

Financial guarantee contracts are those contracts that require a payment to be made to reimburse the holder for a loss it incurs because the specified party fails to make
a payment when due in accordance with the terms of a debt instrument. Financial guarantee contracts are recognized as a financial liability at the time the guarantee Ls
issued at fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequently, the liability is measured at the higher ol
the amount of expected loss allowance determined as per impairment requirements of Ind AS 109 ''Financial Instruments'' and the amount recognized less cumulative
amorti2aiion-

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires
Offsetting financial Instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and
there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future
events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the counterparty.

3.13 Cash and_Ca*h Equivalents

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

3.14 Income Taxes

Income Tax comprises current and deferred tax. It is recognized in The Statement of Profit and Loss except to the extent that it relates to an item recognized directly in
equity or in other comprehensive income.

315.1 CurrentTax

Current tax liabilities (or assets) for the current and prior periods are measured at the amount expected to be paid to (recovered from) the taxation authorities using the
tax rates (and tax laws) that have been enacted or substantively enacted, at the end of the reporting period.

3.15.2 Psferred-ia^

Deferred Tax assets and liabilities shall be measured at the tax rates that are expected io apply to the period when the asset is realized or the liability is settled based or
tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the
corresponding amounts used for taxation purposes (i.e., tax base). Deferred tax is also recognized for camy forward of unused tax losses and the unused tax credits.

Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry
forward of unused tax credits and unused tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period, The Company reduces the carrying amount of a deferred tax asset to Jhe
extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit or part or that entire deferred tax asset to be utilized Any such
reduction is reversed to the extent that it hpromes probable that sufficient taxable profit will be available.

Deferred tax relating to items recognized outside the Statement of Profit and Loss is recognized either in other comprehensive income or in equity. Deferred tax items
are recognized in correlation to the underlying transaction either in OCI or directly in equity.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to
income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.

3.1G Investments

i) 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 is
current investments. All other investments are classified as long-term investments. The portion of long-term term investments expected to be realized within
twelve months after the reporting date are disclosed under current investments.

II} On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees

& duties.

¦ii) Long-Term Investments designated as equity instrument being non trading in nature are measured at Fair Value through Other Comprehensive Income (FVTOCI),

iv) Short Term Investments being classified as current investment designated as equity instrument / Debt instrument being trading in nature are measured at Fair
Value through Profit & Loss (FVTPL).

An associate is an entity over which the Company is in a position to exercise significant influence over operating and financial policies. Significant influence is the power
to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies Goodwill arising on the acquisition of
associates is included in the carrying value of investments in associates. The Company''s investments in its associate is accounted for using the equity method. Under tha
equity method, the investment in an associate is initially recognised at cost.

The Company''s Investments in its associate is recognised at cost less impairment loss (if any). Upon loss of significant influence over the associate, the Company
measures and recognises any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and
the fair value of the retained investment and or proceeds from disposal is recognised In profit or loss.

3.17 flevenue Recognition

The Company is primarily engaged in the manufacturing of Iron & Steel products and generate revenue from the sale of the product.

Revenue from sale of product is recognised at the point in time when control of the goods is transferred to the customer, generally on delivery of the product
At contract inception, the Company assess the goods promised in a contract with a customer and identifies as a performance obligation of each promise to transfer to
the customer. Revenue from contracts with customers is recognized when control of goads is transferred to customers and the Company retains neither continuing
managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.

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, regardless of
when the payment is being made. Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of variable
consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered Is net of variable consideration and excluding tixe*
or duties collected on behalf of the Government

a) Sale cl Goads

Sale of goods is recognised at the point in time when control of the goods is transferred to the customer. The revenue is measured on the basis of the consideration
defined in the contract with a customer, including variable consideration, such as discounts, volume rebates, or other contractual reductions. As the period between the
date on which the Company transfers the promised goods to the customer and the date on which the customer pays far these goads is generally one year or less, no
financing components are taken into account.

Certain contracts provide a customer with a right to return the goods within a specif ed period. The company uses the expected value method to estimate the goods
that will not be returned because this method best predicts the amount of variable consideration to which the company will be entitled. The requirements in Ind AS 115
an constraining estimates of variable consideration are also applied in order to determine the amount of variahle consideration that can be included in the transaction
price for goods that are expected to he returned instead of revenue the Company recognises a refund liability, A right of return asset and corresponding adjustment la
change in inventory is also recognised for the right to recover products from a customer.

b) Other Operating Revenue

Export incentive and subsidies are recognised when there is reasonable assurance that the Company will comply with the conditions and the incentive will be received.
Insurance & other claims, where quantum of accruals cannot be ascertained with reasonable certainty are recognised as income only when revenue is virtually certain
which generally coincides with recelpt/acceptance,

c) Interest Income

For all financial instruments measured at amortised cost. Interest income is recorded using the effective interest rate (EIRJ. EIR is the rate that exactly discounts the
estimated future cash receipts aver the expected life of the Financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial
asset,

Contract Balances
Contract assets

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to
a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional.

Trade receivables

A receivable represents the Company''s right to an amount of consideration that is unconditional i.e. only the passage of time is required before payment of
consideration is due and the amount is billable.

Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amauntof consideration is due]
from the customer, Contract liabilities are recognised as revenue when the Company performs obligations under the contract.

3.18 Earning* Per Share

Basic Earnings Per Share (EPS) is computed by dividing the net profit or loss for the year attributable to Equity Shareholders hy the weighted average number of equity
shares outstanding during the year. Diluted EPS is computed by dividing the net profit or loss for the year attributable to Equity Shareholders by the weighted average
number of equity shares outstanding during the year as adjusted far the effects af all dilutive potential equity shares, except where the result are anti-dilutive

319 Cash Mow Statement

Cash Flow Statement presents the Cash Flows by operating, investing and financing activities of the Company. Cash and Cash equivalents presented in the Cash Flow
Statement consist of cash on hand, cash at hank, and short-term investments with an original maturity of three months or less.

3.20 Proposed Dividend

Dividend recommended/declared after the Balance Sheet Date but before the Financial Statements are approved by Shareholders in the General Meeting are not
recognized as a liability at the Balance Sheet Date because no obligation exists at the Balance Sheet Date. Such Dividend is disclosed in the Notes.

3.21 Events after reflecting date

Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such everts is
adjusted within the Financial Statements. Otherwise, events after the Balance Sheet date of material size or nature are only disclosed.

3.22 Measurement of Fair Values

A number of the Company’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. The fair value measurement is hased on the presumption that the transaction to sell the asset or transfer the liability takes place either:

In the principal market for the asset or liability, or

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

The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is measured using the assumptions that
market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant''s ahility to generate
economic benefits hy using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use
of relevant observahle inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows,

based on the input that is significant to the fair value measurement as a whole

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

Level 2- Inputs other than quoted prices included within Level 1, that are observable forthe asset or liability, either directly or indirectly; and
Level 3- Inputs which are unobservable inputs for the asset or liability.

External valuers are involved for valuation of significant assets & liabilities. Involvement of external valuers is decided by the management of the company considering
the requirements of Ind AS and selection criteria include market knowledge, reputation, independence and whether professional standards are maintained.

Information about Significant judgements and Key sources of estimation made in applying accounting policies that have the most significant effects on the amounts
recognized in the financial statements is included in the following notes:

Depredation / Amortization and Impairment on Property. Plant and Equipment / Intangible Assets:

Property, plant and equipment and intangible assets are depreciated/ amortized on straight-line /written down value basis over the estimated useful lives (or lease term
if shorter) in accordance with Schedule II of the Companies Act, 2013, taking into account the estimated residual value, wherever applicable.

The company reviews its carrying value of its Tangible and Intangible Assets whenever there is objective evidence that the assets are impaired. In such situation assets
recoverable amount is estimated which is higher than assets or cash generating units (CGU), fair value less cost of disposal and its value in use. In assessing value in use
the estimated future cash flows are discounted using pre-tax discount rate which reflect the current assessment of time value of money. In determining fair value less
cost of disposal, recent market realisations are considered or otherwise in absence of such transactions appropriate valuations are adopted. The Company reviews the
estimated useful lives of the assets regularly in order to determine the amount of depreciation / amortization and amount of impairment expense to be recorded during
any reporting period. This reassessment may result in change in estimates in future periods.

Income taxes:

Significant judgment is required in determination of taxability of certain income and deductibility of certain expenses during the estimation of the provision for income
taxes.

Recognition of Deferred Tax Assets :

The extent to which deferred tax assets can be recognised is based on an assessment of the probability of the Company''s future taxable income against which the
deferred tax assets can be utilized. In addition, significant judgement is required in assessing the impact of any legal or economic limits.

Defined Benefit Obligation (DBO):

Employee benefit obligations are measured on the basis of actuarial assumptions which include mortality and withdrawal rates as well as assumptions concerning future
developments in discount rates, medical cost trends, anticipation of future salary increases and the inflation rate. The Company considers that the assumptions used to
measure its obligations are appropriate. However, any changes in these assumptions may have a material impact on the resuiting calculations.

Provisions and Contingencies:

The assessments undertaken in recognising provisions and contingencies have been made in accordance with Indian Accounting Standards (Ind AS) 37 , ''Provisions,
Contingent Liabilities and Contingent Assets''. The evaluation of the likelihood of the contingent events is applied best judgement by management regarding the
probability of exposure to potential loss.

Impairment of Financial Assets :

The Company reviews its carrying value of investments carried at amortized cost annually, or more frequently when there is indication of impairment. If recoverable
amount is less than its carrying amount, the impairment loss is accounted for.

Allowances for Doubtful Debts :

The Company makes allowances for doubtful debts through appropriate estimations of irrecoverable amount. The identification of doubtful debts requires use of
judgement and estimates. Where the expectation is different from the original estimate, such difference will impact the carrying value of the trade and other receivables
and doubtful debts expenses in the period in which such estimate has been changed.

Fair value measurement of Financial Instruments :

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair
value is measured using valuation techniques including the Discounted Cash Flow model. The input to these models are taken from observable markets where possible,
but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk
and volatility.

Right-of-use assets and lease liability :

The Company has exercised judgement in determining the lease term as the non-cancellable term of the lease, together with the impact of options to extend or
terminate the lease if it is reasonably certain to be exercised. Where the rate implicit in the lease is not readily available, an incremental borrowing rate is applied. This
incremental borrowing rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the funds necessary to
obtain an asset of a similar nature and value to the right-of-use asset in a similar economic environment. Determination of the incremental borrowing rate requires
estimation.

Th* Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority or other lender in accordance with the guidelines on wilful defaulters issued by the
Rptnvf Bank ol India

37.s Mulnut''iLHitfl sifwh

TheCompany does not have any transactions with companies struck off as defined in Section 248 of the Companies Act''2013 or section 560 of Companies Act, 19S6

Th*« ar no charge or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period. 1

37.7 OiMtosufi fin tofftpllontfl vrith ipfli&vtd Ktieavtfsl qF Arrange in 0*1)

During the year no Scheme of Arrangement has been Formulated byth* Company/pending with competent authority

37.8 Q«Hlon-''Ofll LflilHlion ol Baiiflw&d lun

Ho funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including lorelgn
cflMiei ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries)

The Company has not received any fund from any party(s) (Funding Party) with the understanding that Ihe Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or an b* ul(
ol tho Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like an behalf of the Ultimate Beneficiaries.

¹ 37.9 flMtrflBt urxihctoejJJttwmq

During the year, the Company has not surrendered or disclosed any income 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, 1ft)|
Afcordm^Fy. iFvre are no transaction which are not recorded in the books of accounts

37.113 D*ijjUglC^ioCun«ncsotV''iluiiO»icaMy

The Compjny has not traded or invested in Crypto Currency or Virtual Currency during the Current financial year

b) Defined Benefit Plan

The following a re the types of defined benefit plans:

(i] Gratuity Plan

Every employee who has completed five years or more of service is entitled to gratuity on terms not less favourable than the provisions of the Payment of Gratuity Act, 1972. The present value ol
defined obligation and related current costare measured using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.

(il) Provident Fund

²ravident Fund (other than government administered) as per the provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952
(iii) Leave obligations

The Obligation for Leave encashment is determined and recognised in the same manner as gratuity.

c) Risk Exposure

Through its defined benefit plans, the company Is exposed to a number of risks, the most significant of which are detailed below:

a) Interest rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus
result In an increase in the value of the liability (as shown in financial statements).

b) Salary escalation risk: The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of
salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a hearing on the plan''s liability.

c) Demographic risk: The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse
compared to the assumption

d) Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity pay-outs. This may arise due to non availability of enough cash/ cash equivalent to meet the liabilities
or holding of illiquid assets not being sold in time.

e) Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 [as amended from rime to time). There is a risk of change in regulations
requiring higher gratuity payouts (e g. Increase in the maximum limit on gratuity of ^ 20 Lakhs)-

f) Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of assets,exposing the Company to market risk for volatilities/fall in interest rate-

g) Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.

The management has assessed that the Fair values of cash ard cash equivalents, trade receivables, trade payables, short term borrowings, and other current financial liabilities approximates their carrying amounts largely due to the ••“-vt
term maturities of these instruments. The management has assessed that the fair value of floating fate Instruments approximates their carrying value.

(ii) Fair value measurement

The fair values of financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Methods and assumptions used to estimate the fair values are consistent with all previous reporting year-

44 fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (h) measured at amortised cast and
for which fair values are disclosed in the financial statements. To provide an Indication about the reliability of the inputs used in determining fair value, the Company has classified its financial Instruments Into
three levels prescribed under the IND AS . An explanation of each level follows below.

Quoted prices In an active market (Level 1]:

This level of hierarchy includes financial instruments that are measured by reference to quoted prices (unadjusted) in actiue markets for identical assets or liabilities. This category consists of mutual fund
investments.

Valuation techniques with observable inputs (Level 2]:

This level of hierarchy includes financial instruments, measured using inputs other than quoted prices included within Level 1 that are observable far the instruments, either directly (i.e., as prices) ortndicectfy
(i.e., derived from prices) and rely as little as possible on entity specific estimates. If all significant inputs required to fair value or instrument are observable, the instrument is included in Level 2.

Valuation techniques with significant unobservable inputs (Level 3):

This level of hierarchy includes financial instruments measured using Inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or m part, using a valuation
model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This category consists ol
investment in unquoted equity instrument.

44 i ftia following methods and assumptions were uad to estimate the Fair values:

The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion Of
unobservable inputs inducing counterparty credit risks, which has been assessed to be insignificant.

The fair values of non-current borrowings are based an the discounted cash flows using a current borrowing rate. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion of
unobservahle inputs including own credit risks, which was assessed as on the balance sheet date to be Insignificant.

. Aec0tc -z nri I ishillliiic mascurdH C^ir V^lim - rortirrlna fair i/a 11 ici rn auci irpmpnK

48 Events after the reporting period I Q I * £2> 1 u>

No significant adjusting event occurred between the balance sheet date and date of the approval of these financial statements by the Board of Directors of the Company requiring adjustment or disclosure. \ J $y

AccOv''

49 Rounded Off ^''

The figures appearing in financial statements have been rounded off to the nearest Lakhs, as required by General Instructions for preparation of Financial Statements in Division II of Revised Schedule III to the Companies Act, 2013.

50 The company uses accounting software for maintaining its books of account for the financial year March 31, 2025 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all
relevant transactions recorded in the accounting software. However, the audit trail feature is not enabled at the database level for payroll software and in respect of accounting software, audit trail was editable at database level.
Further, no audit trail feature was tampered with in respect to the accounting software including payroll software.

Additionally, the audit trail has been preserved by the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective years.

52 Previous figures have been reclassified/regrouped where ever necessary, to make it comparable to this year''s
classification.

As per our report of even date annexed herewith

For SINGHI & CO. For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No: 302049E Y7 C\ V

SANKAR BANDYOPADHYAY RUbftAJMARAYAW JANA DEEPAK AGARWAL

(Partner) f* f Y*\ (Whole Time Director) (Director)

Membership No:008230 J~J DIN: 06584512 DIN: 00343812

Y^X---

X^AcctiX

Place : Kolkata NAVfl Y AGARWAL SHYAM SUNDAR SOMANI

Dated:26th May, 2025 (Company Secretary) (Chief Financial Officer)

---

Mar 31, 2024

3.10 Provisions, Contingent Liabilities and Contingent Assets Provisions and Contingent Liabilities

A Provision is recognised when the Company has present obligation as a result of a past event and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are discounted to their present value, where the time value of money is material.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as a separate asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Contingent liability is a possible obligation arising from past events and the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events but is not recognised because it is not possible that an outflow of resources embodying economic benefit will be required to settle the obligations or reliable estimate of the amount of the obligations cannot be made. The Company discloses the existence of contingent liabilities in Other Notes to Financial Statements.

In cases where the possible outflow of economic resources as a result of present obligation is considered improbable or remote, no Provision is recognised or disclosure is made.

Contingent Assets

Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic benefits. Contingent Assets are not recognised though are disclosed, where an inflow of economic benefits is probable.

3.11 Equity and Reserves

Share Capital represents the nominal value of shares that have been issued. Securities premium includes any premium received on issue of Share Capital.

Other components of equity include the following:

♦ Re-measurement of defined benefit liability comprises the actuarial gain or loss from changes in demographic and financial assumptions and return on plan assets.

♦ Change in fair value of investment in equity instrument designated as Fair Value through Other Comprehensive Income (FVTOCI).

• General Reserve is created mainly on the account of amalgamation.

• Retained earnings include all current and prior period retained profits.

3.12 Financial Instruments

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

Recognition, initial measurement and de-recognition:

Financial assets and financial liabilities are recognised and are measured initially at fair value adjusted by transactions costs, except for those financial assets which are classified at Fair Value through Profit & Loss (FVTPL) at inception. Financial assets are derecognised when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and all substantial risks and rewards are transferred. A financial liability is derecognized when it is extinguished, discharged, cancelled or expires.

Classification and subsequent measurement of financial assets:

For the purpose of subsequent measurement, financial assets are classified into the following categories upon initial recognition:

• amortised cost

• financial assets at fair value through profit or loss (FVTPL)

• financial assets at fair value through other comprehensive income (FVOCI)

All financial assets except for those at FVTPL are subject to review for impairment at least at each reporting date Amortised cost

A financial asset is measured at amortised cost using effective interest rates if both of the following conditions are met:

a) the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and

b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at FVTPL

Financial assets at FVTPL include financial assets that are either do not meet the criteria for amortised cost classification or that are equity instruments held for trading or that meet certain conditions and are designated at FVTPL upon initial recognition. All derivative financial instruments also fall into this category. Assets in this category are measured at fair value with gains or losses recognized in profit or loss. The fair values of financial assets in this category are determined by reference to active market transactions or using a valuation technique where no active market exists.

Financial assets at FVOCI

FVOCI financial assets are either debt instruments that are managed under hold to collect and sell business model or are non-trading equity instruments that are irrevocable designated to this category at inception.

FVOCI financial assets are measured at fair value. Gains and losses are recognized in other comprehensive income, except for interest and dividend income, impairment losses and foreign exchange differences on monetary assets, which are recognized in statement of profit or loss.

Classification and subsequent measurement of financial liabilities:

Financial liabilities are measured subsequently at amortized cost using the effective interest method, except for financial liabilities held for trading or designated at FVTPL, that are carried subsequently at fair value with gains or losses recognized in profit or loss. All derivative financial instruments are accounted for at FVTPL.

Embedded Derivatives

Derivatives embedded in non-derivative host contracts are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the contracts are not measured at FVTPL.

Impairment of Financial Assets

In accordance with IndAS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss for financial assets.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive.

Trade Receivables

The Company applies approach as specified in Indian Accounting Standards (Ind AS) 109 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of receivables.

Other Financial Assets

For recognition of impairment loss on other financial assets and risk exposure, the Company determines whether there has been a significant increase in the credit risk since initial recognition.

Financial guarantee contracts

Financial guarantee contracts are those contracts that require a payment to be made to reimburse the holder for a loss it incurs because the specified party fails to make a payment when due in accordance with the terms of a debt instrument. Financial guarantee contracts are recognized as a financial liability at the time the guarantee is issued at fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequently, the liability is measured at the higher of the amount of expected loss allowance determined as per impairment requirements of Ind AS 109 ''Financial Instruments'' and the amount recognized less cumulative amortization. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the counterparty.

3.13 Cash and Cash Equivalents

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

3.14 Income Taxes

Income Tax comprises current and deferred tax. It is recognized in The Statement of Profit and Loss except to the extent that it relates to an item recognized directly in equity or in other comprehensive income.

3.15.1 Current Tax

Current tax liabilities (or assets) for the current and prior periods are measured at the amount expected to be paid to (recovered from) the taxation authorities using the tax rates (and tax laws) that have been enacted or substantively enacted, at the end of the reporting period.

3.15.2 Deferred Tax

Deferred Tax assets and liabilities shall be measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for taxation purposes (i.e., tax base). Deferred tax is also recognized for carry forward of unused tax losses and the unused tax credits.

Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized The carrying amount of deferred tax assets is reviewed at the end of each reporting period. The Company reduces the carrying amount of a deferred tax asset to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit or part or that entire deferred tax asset to be utilized. Any such reduction is reversed to the extent that it becomes probable that sufficient taxable profit will be available.

Deferred tax relating to items recognized outside the Statement of Profit and Loss is recognized either in other comprehensive income or in equity. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.

3.16 Investments

i) 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 longterm investments. The portion of long-term term investments expected to be realized within twelve months after the reporting date are disclosed under current investments.

ii) On initial recognition, all investments are measured at cost. The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees & duties.

iii) Long-Term Investments designated as equity instrument being non trading in nature are measured at Fair Value through Other Comprehensive Income (FVTOCI).

iii) Short Term Investments being classified as current investment designated as equity instrument / Debt instrument being trading in nature are measured at Fair Value through Profit & Loss (FVTPL).

3.17 Revenue Recognition

The Company is primarily engaged in the manufacturing of Iron & Steel products and generate revenue from the sale of the product.

Revenue from sale of product is recognised at the point in time when control of the goods is transferred to the customer, generally on delivery of the product.

At contract inception, the Company assess the goods promised in a contract with a customer and identifies as a performance obligation of each promise to transfer to the customer. Revenue from contracts with customers is recognized when control of goods is transferred to customers and the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.

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, regardless of when the payment is being made. Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of variable consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered is net of variable consideration and excluding taxes or duties collected on behalf of the Government.

a) Sale of Goods

Sale of goods is recognised at the point in time when control of the goods is transferred to the customer. The revenue is measured on the basis of the consideration defined in the contract with a customer, including variable consideration, such as discounts, volume rebates, or other contractual reductions. As the period between the date on which the Company transfers the promised goods to the customer and the date on which the customer pays for these goods is generally one year or less, no financing components are taken into account.

Certain contracts provide a customer with a right to return the goods within a specified period. The company uses the expected value method to estimate the goods that will not be returned because this method best predicts the amount of variable consideration to which the company will be entitled. The requirements in Ind AS 115 on constraining estimates of variable consideration are also applied in order to determine the amount of variable consideration that can be included in the transaction price for goods that are expected to be returned instead of revenue the Company recognises a refund liability. A right of return asset and corresponding adjustment to change in inventory is also recognised for the right to recover products from a customer.

b) Other Operating Revenue

Export incentive and subsidies are recognised when there is reasonable assurance that the Company will comply with the conditions and the incentive will be received. Insurance & other claims, where quantum of accruals cannot be ascertained with reasonable certainty are recognised as income only when revenue is virtually certain which generally coincides with receipt/acceptance.

c) Interest Income

For all financial instruments measured at amortised cost, Interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash receipts over the expected lift of the financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial asset

Contract Balances Contract assets

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional.

Trade receivables

A receivable represents the Company''s right to an amount of consideration that is unconditional i.e. only the passage of time is required before payment of consideration is due and the amount is billable.

Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. Contract liabilities are recognised as revenue when the Company performs obligations under the contract.

3.18 Earnings Per Share

Basic Earnings Per Share (EPS) is computed by dividing the net profit or loss for the year attributable to Equity Shareholders by the weighted average number of equity shares outstanding during the year. Diluted EPS is computed by dividing the net profit or loss for the year attributable to Equity Shareholders by the weighted average number of equity shares outstanding during the year as adjusted for the effects of all dilutive potential equity shares, except where the result are anti-dilutive.

3.19 Cash Flow Statement

Cash Flow Statement presents the Cash Flows by operating, investing and financing activities of the Company. Cash and Cash equivalents presented in the Cash Flow Statement consist of cash on hand, cash at bank, and short - term investments with an original maturity of three months or less.

3.20 Proposed Dividend

Dividend recommended/declared after the Balance Sheet Date but before the Financial Statements are approved by Shareholders in the General Meeting are not recognized as a liability at the Balance Sheet Date because no obligation exists at the Balance Sheet Date. Such Dividend is disclosed in the Notes.

3.21 Events after reporting date

Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such events is adjusted within the Financial Statements. Otherwise, events after the Balance Sheet date of material size or nature are only disclosed.

3.22 Measurement of Fair Values

A number of the Company''s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

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

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

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

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

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

Level 2- Inputs other than quoted prices included within Level 1, that are observable for the asset or liability, either

directly or indirectly; and

Level 3- Inputs which are unobservable inputs for the asset or liability.

External valuers are involved for valuation of significant assets & liabilities. Involvement of external valuers is decided by the management of the company considering the requirements of Ind AS and selection criteria include market knowledge, reputation, independence and whether professional standards are maintained.

4. KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

Information about Significant judgements and Key sources of estimation made in applying accounting policies that have the most significant effects on the amounts recognized in the financial statements is included in the following notes:

Depreciation / Amortization and Impairment on Property, Plant and Equipment / Intangible Assets:

Property, plant and equipment and intangible assets are depreciated/ amortized on straight-line /written down value basis over the estimated useful lives (or lease term if shorter) in accordance with Schedule II of the Companies Act, 2013, taking into account the estimated residual value, wherever applicable.

The company reviews its carrying value of its Tangible and Intangible Assets whenever there is objective evidence that the assets are impaired. In such situation assets recoverable amount is estimated which is higher than assets or cash generating units (CGU), fair value less cost of disposal and its value in use. In assessing value in use the estimated future cash flows are discounted using pre-tax discount rate which reflect the current assessment of time value of money. In determining fair value less cost of disposal, recent market realisations are considered or otherwise in absence of such transactions appropriate valuations are adopted. The Company reviews the estimated useful lives of the assets regularly in order to determine the amount of depreciation / amortization and amount of impairment expense to be recorded during any reporting period. This reassessment may result in change estimated in future periods.

Income taxes :

Significant judgment is required in determination of taxability of certain income and deductibility of certain expenses during the estimation of the provision for income taxes.

Recognition of Deferred Tax Assets :

The extent to which deferred tax assets can be recognised is based on a assessment of the probability of the Company''s future taxable income against which the deferred tax assets can be utilized. In addition, significant judgement is required in assessing the impact of any legal or economic limits.

Defined Benefit Obligation (DBO) :

Employee benefit obligations are measured on the basis of actuarial assumptions which include mortality and withdrawal rates as well as assumptions concerning future developments in discount rates, medical cost trends, anticipation of future salary increases and the inflation rate. The Company considers that the assumptions used to measure its obligations are appropriate. However, any changes in these assumptions may have a material impact on the resulting calculations.

Provisions and Contingencies :

The assessments undertaken in recognising provisions and contingencies have been made in accordance with Indian Accounting Standards (Ind AS) 37 , ''Provisions, Contingent Liabilities and Contingent Assets'' The evaluation of the likelihood of the contingent events is applied best judgement by management regarding the probability of exposure to potential loss.

Impairment of Financial Assets :

The Company reviews its carrying value of investments carried at amortized cost annually, or more frequently when there is indication of impairment. If recoverable amount is less than its carrying amount, the impairment loss is accounted for.

Allowances for Doubtful Debts :

The Company makes allowances for doubtful debts through appropriate estimations of irrecoverable amount. The identification of doubtful debts requires use of judgement and estimates. Where the expectation is different from the original estimate, such difference will impact the carrying value of the trade and other receivables and doubtful debts expenses in the period in which such estimate has been changed.

Fair value measurement of Financial Instruments :

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted Cash Flow model. The input to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility.

Right-of-use assets and lease liability :

The Company has exercisedjudgement in determining the lease term as the non-cancellable term of the lease, together with the impact of options to extend or terminate the lease if it is reasonably certain to be exercised. Where the rate implicit in the lease is not readily available, an incremental borrowing rate is applied. This incremental borrowing rate reflects the rate of interest that the lessee would have to pay to borrow over a similar term, with a similar security, the funds necessary to obtain an asset of a similar nature and value to the right-of-use asset in a similar economic environment. Determination of the incremental borrowing rate requires estimation.

38.3 Wilful Defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

38.4 Relatioship with Struck off companies

The Company does not have any transactions with companies struck off as defined in Section 248 of the Companies Act''2013 or section 560 of Companies Act, 1956.

38.5 Registration of Charges or Satisfaction with ROC

There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.

38.6 Disclosure on compliance with approved scheme(s) of Arrangements

During the year no Scheme of Arrangement has been formulated by the Company/pending with competent authority.

38.7 Disclosure of Utilisation of Borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

38.8 Disclosure regarding undisclosed income

During the year, the Company has not surrendered or disclosed any income 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). Accordingly, there are no transaction which are not recorded in the books of accounts.

38.9 Details of Crypto Currency or Virtual Currency

TThe Company has not traded or invested in Crypto Currency or Virtual Currency during the Current financial year.

Note: The above CSR expenditure incurred by the company through a charitable trust Supershakti Foundation . The objectives of Supershakti Foundation includes working in areas of social, economic and health and hygiene awareness, women empowerment education , Rural Infrastructure development , promote flora / fauna etc.

40 Code on Social Security

TThe Code on Social Security, 2020 (Code) related to employee benefits during employment and post-employment received Presidential assent in Sep''2020. The Code has been published in the Gazette of India; however, the date on which the Code will come into effect has not been notified and the final rules/ interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. However, the Company envisages that the impact of the above will not be material.

—? Figures mention in quarterly return/ statement represents the details taken from books of accounts dated 25th March, 2024 (PY 25th March, 2022)

Notes

Note 1: Impact of sales reversal/ adjustments arising out of provision for debit and credit notes/ expected credit loss provision/ debtors beyond 120 days not considered in returns/ statements submitted to the banks.

Note 2: Impact is immaterial, which is on account of miscellaneous adjustment not considered in returns/ statements submitted to the banks.

Note 3: Adjustments pertaining to cut offs, goods in transit, overhead allocation on work-in-progress and finished goods, etc. are done only on finalisation of books of accounts/financial statements. Same has not been considered in returns/statements submitted to the banks.

Note 4: Impact of provision for operational expenses not considered in returns/statements submitted to the banks.

Note 5: Impact is immaterial, which is on account of miscellaneous adjustment not considered in returns/ statements submitted to the banks.

b) Defined Benefit Plan

The following are the types of defined benefit plans:

(i) Gratuity Plan

Every employee who has completed five years or more of service is entitled to gratuity on terms not less favourable than the provisions of the Payment of Gratuity Act, 1972. The present value of defined obligation and related current cost are measured using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.

(ii) Provident Fund

Provident Fund (other than government administered) as per the provisions of the Employees Provident Funds and Miscellaneous Provisions Act, 1952.

(iii) Leave obligations

The Obligation for Leave encashment is determined and recognised in the same manner as gratuity.

c) Risk Exposure

Through its defined benefit plans, the company is exposed to a number of risks, the most significant of which are detailed below:

a) Interest rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements)

b) Salary escalation risk: The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan''s liability.

c) Demographic risk: The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

d) Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity pay-outs. This may arise due to non availability of enough cash/ cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

e) Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of '' 20 Lakhs).

f) Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of assets,exposing the Company to market risk for volatilities/fall in interest rate.

g) Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.

(ii) Fair value measurement

TThe fair values of financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent with all previous reporting year.

45 Fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into three levels prescribed under the accounting standard. An explanation of each level follows below.

Quoted prices in an active market (Level 1):

This level of hierarchy includes financial instruments that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of mutual fund investments.

Valuation techniques with observable inputs (Level 2):

This level of hierarchy includes financial instruments, measured using inputs other than quoted prices included within Level 1 that are observable for the instruments, either directly (i.e., as prices) or indirectly (i.e., derived from prices) and rely as little as possible on entity specific estimates. If all significant inputs required to fair value or instrument are observable, the instrument is included in Level 2.

Valuation techniques with significant unobservable inputs (Level 3):

This level of hierarchy includes financial instruments measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This category consists of investment in unquoted equity instrument.

45.1 The following methods and assumptions were used to estimate the fair values:

The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risks, which has been assessed to be insignificant.

The fair values of non-current borrowings are based on the discounted cash flows using a current borrowing rate. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including own credit risks, which was assessed as on the balance sheet date to be insignificant.

Notes:

(i) Investments carried at their fair values through profit & loss, are generally based on market price quotations. In respect of investments in mutual funds, the fair values represent net asset value as stated by the issuers of these mutual fund units in the published statements. Net asset values represent the price at which the issuer will issue further units in the mutual fund and the price at which issuers will redeem such units from the investors. Accordingly, such net asset values are analogous to fair market value with respect to these investments, as transactions of these mutual funds are carried out at such prices between investors and the issuers of these units of mutual funds.

(ii) Investments carried at their fair values through other comprehensive income, measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This category consists of investment in unquoted equity instrument.

(iii) Management uses its best judgment in estimating the fair value of its financial instruments. However, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented above are not necessarily indicative of all the amounts that the Company could have realized or paid in sale transactions as of respective dates. As such, the fair value of the financial instruments subsequent to the respective reporting dates may be different from the amounts reported at each year end.

(iv) The Company''s policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period. There have been no transfers between Level 1, Level 2 and Level 3 from March 31,2023 to March 31, 2024.

46 Financial Risk Management

The Company has a Risk Management Policy which covers risk associated with the financial assets and liabilities. The Risk Management Policy is approved by the director. The different types of risk impacting the fair value of financial instruments are as below:

46.1 Credit Risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms or obligations. Credit risk encompasses both the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks.

Financial instruments that are subject to concentrations of credit risk, principally consist ofinvestments, trade receivables and balances with banks. None of the financial instruments of the Company result in material concentrations of credit risks."

Trade receivables

Trade receivables are typically unsecured, considered good and are derived from revenue earned from customers. Customer credit risk is managed as per Company''s policy and procedures which involve credit approvals, establishing credit limits and continually monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. Outstanding customer receivables are regularly monitored. Refer below for the credit risks arising out of outstanding trade receivables.

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises four type of risks: Commodity Price Risk, Foreign Exchange Risk, Interest Rate Risk and Other Price Risk. Future specific market movements cannot be normally predicted with reasonable accuracy.

Commodity Price Risk

The Company primarily imports Coal, Scrap, Manganese Ore and Copper Mould Tube. It is exposed to commodity price risk arising out of movement in prices of such commodities. Such risks are monitored by tracking of the prices and are managed by entering into fixed price contracts, where considered necessary.

Foreign Currency Exchange Rate Risk

Foreign Currency risk is the risk that fair value of the future cash flows of a financial instrument will fluctuate because of changes in the foreign exchange rates. The company undertake transactions in foreign currencies, consequently, exposures to exchange rate fluctuations arise. Any weakening of the functional currency may impact the Company''s cost of imports. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks. Exchange rate exposure are managed with in approved policy parameters utilizing foreign exchange forward contracts. The Company, as per its risk management policy, uses such forward contract derivative instruments primarily to hedge foreign exchange fluctuations.

The Company''s objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed periodically with reference to operating and business plans that take into account capital expenditure and strategic investments. Apart from internal accrual, sourcing of capital is done through judicious combination of equity and borrowing, both short term and long term. Net debt (total borrowings less cash & cash equivalents and Other bank balance ) to equity ratio is used to monitor capital.

49 Events after the reporting period

No significant adjusting event occurred between the balance sheet date and date of the approval of these financial statements by the Board of Directors of the Company requiring adjustment or disclosure.

50 Rounded Off

The figures appearing in financial statements have been rounded off to the nearest Lakhs, as required by General Instructions for preparation of Financial Statements in Division II of Revised Schedule III to the Companies Act, 2013.

52 The company uses accounting software for maintaining its books of account for the financial year March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting software. However, the audit trail feature is not enabled at the database level for accounting software and payroll software. Further, no audit trail feature was tampered with in respect to the accounting software including payroll software.

53 Previous figures have been reclassified/regrouped where ever necessary , to make it comparable to this year''s classification.

As per our report of even date annexed herewith

For SINGHI & CO. For and on behalf of the Board

Chartered Accountants

Firm Registration No : 302049E

RAJIV SINGHI SUDIPTO BHATTACHARYYA DEEPAK AGARWAL

(Partner) (Whole Time Director) (Director)

Membership No. 053518 DIN 06584524 DIN 00343812

Place: Kolkata NAVIN AGARWAL SHYAM SUNDAR SOMANI

Date: 24^th May, 2024 (Company Secretary) (Chief Financial Officer)

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Mar 31, 2018

a. Terms/ Rights attached to equity shares:

The Company has only one class of issued shares i.e. Equity Shares having, par Value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share and equal right for dividend, The dividend proposed by the Board of Directors if any is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. Pro-rata dividend is applicable from the date of allotment In respect of shares issued during the year. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.

b. No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvestment as at the Balance Sheet date.

c. No calls are unpaid by any Director or Officer of the Company during the year.

Details of Security:

a. Wording capital facility from Banks of Rs,2,16,70,266/- (P,V Rs,50,43,60,269/-) Is secured by first pari- passu charge on the entire current assets and second pari passu charge on the entire fixed assets of Durgapur unit at Kanjilal Avenue, of the Company, Personal Guarantee of Mr. Sitaram Agarwal, Mr. Dllipp Agarwal and Mr. Deepak Agarwal and Corporate Guarantee of M/s Rocky Datamatics Private Limited, M/s Skoda Trexim Private Limited and M/s Veerbhadra Sales.Private Limited.

b. Buyers Credit In Foreign Currency of Rs.19,91,97,692/- (P.Y Rs.7,17,43,971/-) for working capital are part Of the working capital facilities From the banks and are secured against the securities given for working capital loans.

A, During the: year the Company has- assessed the recoverability of Minimum Alternate Tax (MAT) for set off with future normal taxes and a sum of Rs,3,05,66,192/ (Previous year Rs.17,01,318/-), have been recognizcd during the year. Based on projections made by the management and current trend of working of the Company the management is:certain of recovering the MAT Credit Entitlement and a sum of Rs,3;22,63,51Q/- as on 31,03.2018 (Previous Year Rs,17,01,318/-) has been carried forward as MAT Credit Entitlement available for set off in future years.

B. Segment Reporting: -The Company operates mainly in cne business segment viz, Iron & Steel Products being primary segment and all other activities revolve around the main activity.

C. The Company uses forward contracts, swaps and other derivative contracts to hedge its risks relating to changes In exchange rales and interest rates. The Use of such contract is consistent with the Company’s risk management policy. The Company does not use forward contracts for Speculation purposes. .

D. Related Party Disclosures:

I. Relationships

i) Key Management Personnel (kMP)

Dllipp Agar.v.il, Director

Deepak Agarwal, Director .

Ajay Kumar llnjn). Director

Shyam S. Sortlanl, Chlfef Financial Officer

Navin Agarwal, Company Seci’elary

jli) Enterprises over which kev management personnel and relatives of such personnel exercise significant influence and control (others)

Super Smolters Limited ’

Sai Electrocasting Private Limited

I (A), In accordance with the revised Accounting Standard-15, I.e. Employee Benefits, the requisite disclosure are as follow ;

(3) The amount recognized as an expenses For the Defined Contribution Plans are as under; -

- Provident Fund’as per the provisions of Employees. Provident Funds and Miscellaneous Provisions.Act, 1952

(b) In respect of Defined Benefit Plans, necessary dlsclosures-are as under -(i) Benefits are of the following types :

Gratuity

- Every employee who has completed five years or more of service is entitled to Gratuity on terms not less favorable than the provisions of the Payment of Gratuity Act ,1972. The present value of obligation Is determined based on actuarial valuation using Projected Unit Credit Method,

- Other Long Term Employee Benefits ₍ .

a).The Gratuity Scheme Is Invested in a Group Gratuity - Gum - Life Assurance Cash accumulation policy offered by Life Insurance Corporation (L|C) of India. The Information on the allocation of the fund Into major asset classes, and expected return on each major class are not readily available The expected rate of return on plan assets’Is based on the assumed rate of return provided by the company.

b) The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other, relevant factors such as supply and demand in the employment market.

c) Amounts for the current annual period and previous four annual periods are as follows:

I (B). Registrar of Companies had Issued, fresh Certificate of Incorporation dated 03.05.2018, consequent upon conversion from Private Limited Company to p_ubl|c Limited Company by which process the name of the company has been changed from Supershakti Metaliks Private Limited to Supershakti Metaliks Limited.

Nole. The above particulars, ns applicable, luive bcon given in respect of MSMED to (he extent they cbuld.lie identified on jhe basis of in formation available willi the company

E. Goods and Services Tax (GST) has.made. effective from 1st July, 2017. Consequently, Excise duty, Value’added tax (VAT), Service tax etc. hgve. been replaced with GST. Until 30th June,;2017, ‘Sales of Products’ included the amount of Exicse duty recovered on sales. With effect from 1st July, 2017, ‘Sales of products’ excludes the amount of GST recovered. Accordingly, revenue from ‘Sales of Products’ and ‘Gross Revenue from Operations’ for the year ended 31st March 2018, are not comparable with those of the previous year ended on 31st March,2018.

F. Disclosure required under Notification no. S.0.3407|E) dated the 8th November,2016 Is not applicable for the Current Year and as such not furnished.

G. Certaln’Balances bfTfade Receivable, Loans & Advances and Trade Payable are subject to confirmation and reconciliation and adjustments Ih this respect are carried out as arid when, amount thereof, if any, are ascertained.

H. Ih the opinion of the management and Board ofthe Directors, Current Assets arid Loans & Advances have the value at which these are¹ stated in the .Balance Sheet_f unless otherwise stated and adequate provisions for all known llabllltfes:haVe been made arid are not In excess of the amount reasonably required.

I, previous year figures have been regrquped/re classified where necessary, to confirmto this year’s classiflcatlon.