Notes to Accounts of SVP Global Textiles Ltd.

Mar 31, 2025

14. Additional Notes:

A. During the year the Company has not revalued its Property Plant & Equipment.

B. No proceedings have been initiated during the year or are pending against the Company as at March 31, 2025 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

C. The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

D. As per the Information available with the Company, there is no such Companies which has been struck, off to or from which any amount is payable or recoverable.

E. The Borrowed Funds from Banks and / or Financial Institutions have been utilized for the purpose for which it was Borrowed.

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

G. The Company does not have any pending creation of charge and satisfaction as well as registration with ROC.

H. To the best of the knowledge and belief of the Company, no funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity ("Intermediaries"), with the understanding, whether rec orded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

I. To the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

J. The Company has compiled with the number of layers prescribed under Section 2(87) of the Companies Act,2013 read with Companies (Restriction on Number of Layers) Rules, 2017.

K. Since the Company has not entered any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013, the Company is not required to disclose the whether effect of such Scheme of Arrangements have been accounted for in the Books of Accounts in accordance with ''Scheme " and in accordance with the Scheme and "in accordance with accounting standards".

L. The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

15. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year''s classification.

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Mar 31, 2024

M. Provisions

A provision is recognized when the company has a present obligation as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and are reliable estimate can be made of the amount of the obligation. Provisions are discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates. Where the company expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain.

The expense relating to any provision is presented in the statement of profit and loss net of any reimbursement.

N. Contingent liabilities

A contingent Liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

O. Borrowing Cost

Borrowing costs includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and exchange differences arising from Foreign Currency borrowings to the extent they are regarded as an adjustment to the interest cost.

Borrowing costs, if any, directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized. All other borrowing costs are expensed in the period in which they occur.

P. Earnings per Share

The Company reports basic earning per share in accordance with Ind AS-33 "Earning Per Share". Basic earning per share have been computed by dividing net profit after tax by weighted average number of shares outstanding for the year.

Q. Cash and cash equivalents

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short-term investments with an original maturity of three months or less and other short term highly liquid investment.

R. Other comprehensive income Under Ind AS

All items of income and expense recognised in a period should be included in profit or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognised in profit or loss but are shown in the statement of profit and loss as ''other comprehensive income'' includes re-measurements of defined benefit plans and fair value gains or (losses) on FVTOCI. The concept of other comprehensive income did not exist under previous GAAP.

S. Employee benefits

a) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognized in respect of employees services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

b) Other long-term employee benefits obligations

The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service. They are therefore measured as the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end of the reporting period that have terms approximating to the terms of the related obligation. Re-measurements as a result of experience adjustments and changes in actuarial assumptions are recognized in the Statement of Profit and Loss.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.

c) Post-employment obligations

-The Company operates the following postemployment schemes:

- Defined benefit plans such as gratuity, and

- Defined contribution plans such as provident fund and superannuation Fund Defined Benefit Plans

The liability or asset recognized in the balance sheet in respect of defined benefit gratuity plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by actuaries using the projected unit credit method.

The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated future cash outflows by reference to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the related obligation. The benefits which are denominated in currency other than INR, the cash flows are discounted using market yields determined by reference to high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the related obligation.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.

Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income.

They are included in retained earnings in the statement of changes in equity and in the balance sheet.

Re-measurements are not reclassified to profit and loss in the subsequent periods.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service cost.

Defined Contribution Plans

The Contribution towards provident fund, ESIC, pension fund and Social Security Funds for certain employee''s is made to the regulatory authorities where the Company has no further obligations.

Such benefits are classified as Defined Contribution Schemes as the Company does not carry any further obligations apart from the contributions made on a monthly basis.

The Company recognizes contribution payable to a defined contribution plans as an expense in the Statement of Profit and Loss when the employees'' render services to the Company during the reporting period. If the contributions payable for services received from employees'' before the reporting date exceeds the contributions already paid, the deficit payable is recognized as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received before the reporting date, the excess is recognized as an asset to the extent that the pre-payment will lead to, for example, a reduction in future payments.

d) Share-based payments

Share-based compensation benefits are provided to employees under "Employee Stock Option Plan". Employees'' of the Company receives remuneration in the form of share-based payments as per the eligibility criteria.

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made. That cost is recognized, together with a corresponding increase in share-based payment (SBP) reserves in equity, over the period in which the performance and/or service conditions are fulfilled in employee benefits expense.

e) Bonus Plan

The Company recognizes a liability and an expense for bonuses. The Company recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation.

T. Government grants and subsidies Recognition and Measurements

The Company is entitled to subsidies from governments in respect of manufacturing units located in specified regions. Such subsidies are measured at amounts received from the governments which are non-refundable and are recognized as income when there is a reasonable assurance that the Company will comply with all necessary condition attached to them. Income from subsidies is recognized on a systematic basis over the periods in which the related costs that are intended to be compensated by such subsidies are recognized.

The Company has received refundable government loans at below markets rate of interest which are accounted in accordance with the recognition and measurements principles of Ind AS 109, Financial Instruments. The benefits of below - market rate of interest is measured as the difference between the initial carrying value of loan determined in accordance with Ind AS 109 and the proceeds received.

It is recognized as income when there is a reasonable assurance that the Company will comply with all necessary condition attached to the loans. Income from such benefit is recognized on a systematic basis over the period if the loan during which the Company recognizes interest expense corresponding to such loans.

Presentation

Incomes arising from below - market rate of interest loans are presented on gross basis under other income.

U. Events after reporting date

Where events occurring after the balance sheet provide evidence of condition 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.

V. Non-Current Assets held for sale

The Company classifies non-current assets as held for sale if their carrying amounts will be recovered principally through sale rather than through continuing use of the assets and actions required to complete such sale indicate that it is unlikely that significant changes to the plan to sell will be made or that the decision to sell will be withdrawn. Also, such assets are classified as held for sale only if the management expects to complete the sale within one year from the date of classification.

W. Fair Value

The Company measure financial instruments at fair value in accordance with the accounting policies mentioned above. 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.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy that categorizes into three levels, described as follows, the inputs to valuation techniques used to measure value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs)

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

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

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

For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each reporting period and discloses the same.

X. Financial risk management objectives and policies

The Company''s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations and to provide guarantees to support its operations. The Company''s principal financial assets include loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company''s senior management oversees the management of these risks. The Company''s senior management advises on financial risks and the appropriate financial risk governance framework for the Company. All derivative activities for risk management purposes are carried out by specialist teams that have the appropriate skills, experience and supervision. It is the Company''s policy that no trading in derivatives for speculative purposes may be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below.

Financial risk management

The Company has a Senior Management consisting of Board of Directors for overseeing the Risk Management Framework and developing and monitoring the Company''s risk management policies. The risk management policies are established to ensure timely identification and evaluation of risks, setting acceptable risk thresholds, identifying and mapping controls against these risks, monitor the risks and their limits, improve risk awareness and transparency. Risk management policies and systems are reviewed regularly to reflect changes in the market conditions and the Company''s activities to provide reliable information to the Management and the Board to evaluate the adequacy of the risk management framework in relation to the risk faced by the Company

The risk management policies aims to mitigate the following risks arising from the financial instruments:

— Market risk

— Credit risk; and

— Liquidity risk

a. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in the market prices. The Company is exposed in the ordinary course of its business to risks related to changes in foreign currency exchange rates, commodity prices and interest rates.

The Company seeks to minimize the effects of these risks by using derivative financial instruments to hedge risk exposures. The use of financial derivatives is governed by the Company''s policies approved by the Board of Directors, which provide written principles on foreign exchange risk, interest rate risk, credit risk, the use of financial derivatives and non-derivative financial instruments, and the investment of excess liquidity. Compliance with policies and exposure limits is reviewed by the Management and the internal auditors on a continuous basis. The Company does not enter into or trade financial instruments, including derivatives for speculative purposes.

b. Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults.

Company''s credit risk arises principally from the trade receivables, loans, investments in debt securities, cash & cash equivalents, derivatives and financial guarantees.

c. Liquidity risk management

Liquidity risk refers to the risk of financial distress or extraordinary high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. The Company requires funds both for short term operational needs as well as for long term capital expenditure growth projects. The Company generates sufficient cash flow for operations, which together with the available cash and cash equivalents and short term investments provide liquidity in the shortterm and longterm.

The Company has established an appropriate liquidity risk management framework for the management of the Company''s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

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 DCF model. The inputs 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. Changes in assumptions about these factors could affect the reported value of financial instruments.

Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital, convertible preference shares, share premium and all other equity reserves attributable to the equity holders of the parent. The primary objective of the Company''s capital management is to maximize the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

The Company monitors its capital using gearing ratio, which is net debt divided to total equity. Net debt includes, interest bearing loans and borrowings less cash and cash equivalents, bank balances other than cash and cash equivalents and current investments.

. Ind AS 115, Revenue from contract with customers:

Ind AS 115 supersedes Ind AS 11, Construction Contract and Ind AS 18, Revenue. Ind AS 115 requires an entity to report information regarding nature, amount, timing and uncertainty of revenue and cash flow arising from a contract with customers. The principle of Ind AS 115 is that an entity should recognize revenue they demonstrate the transfer of promised goods and service to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard can be applied either retrospectively to each prior reporting period presented or can be applied retrospectively with recognition of cumulative effect of contracts that are not completed contracts the date of initial application of the standard.

. Indemnification Asset:

Indemnification asset is recognised at fair value at the time when the seller contractually agrees to indemnify, in whole or in part, for a particular uncertainty. It is initially measured on the same basis as defined in the agreement, subject to collectability.

A. Recent accounting pronouncements The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 23, 2022, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2022, as below.

Ind AS 16, Property Plant and equipment - The amendment clarifies that excess of net sale proceeds of items produced over the cost of testing, if any, shall not be recognized in the profit or loss but deducted from the directly attributable costs considered as part of cost of an item of property, plant, and equipment. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2022. The Company has evaluated the amendment and there is no impact on its Standalone financial statements.

Ind AS 37, Provisions, Contingent Liabilities and Contingent Assets - The amendment specifies that the ''cost of fulfilling'' a contract comprises the ''costs that relate directly to the contract''. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract (examples would be direct labor, materials) or an allocation of other costs that relate directly to fulfilling contracts (an example would be the allocation of the depreciation charge for an item of property, plant and equipment used in fulfilling the contract). The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2022, although early adoption is permitted. The Company has evaluated the amendment and the impact is not expected to be material.

AB. NOTES FORMING PART OF ACCOUNTS:

1. Exceptional Item Notes and Relevant notes

a) We draw attention that the National Company Law Tribunal (NCLT) has initiated the Corporate Insolvency Resolution Process (CIRP) against the key step subsidiaries namely Shri Vallabh Pittie South West Industries Limited and Shri Vallabh Pittie Industries Limited by passing an order dated 10.10.2023 and 07.03.2024 respectively. Consequently, the value of investments held by the Company in a subsidiary, which is the holding company of this step subsidiaries, with a carrying value of INR 9,637.43 lakhs as at March 31, 2024, has been provided for the impairment loss as per the requirement of Ind AS 36 ''Impairment of Assets'' the impairment loss is disclosed in the exceptional items.

b) The Balances disclosed under the trader receivables and loans receivables are subject to the balance confirmations from third parties and thus, reliance is placed upon the books of accounts provided by the management.

c) The Company has the Borrowings to be repaid to the lenders as disclosed in the statements as Rs. 14,676.20 lakhs in NonCurrent Borrowings, Rs. 2,239.97 lakhs in Current Borrowings and Rs. 1,797.01 lakhs in Other Current Liabilities wherein instances of non-compliance with certain debt covenants were made and the monies had been recalled by the lenders. However, in absence of the adequate evidence, we are unable to comment on the consequential adjustments that might impact this statement on account of non-compliance with debt covenants. Further, confirmation of balances from the lenders have not been obtained. The principal and interest payable to such lenders as of 31 March, 2024 aggregates to Rs. 18,713.17 lakhs.

2. Contingent Liabilities - The Company received income tax assessment orders raising demand of Rs 1.78 crore (P.Y. 1.78 crore). The

management has taken a legal opinion from reputed consultant and according to that these demands are not sustainable. CIT

Appellate has ruled in favour of the Company and substantially reduced the Demand and the CIT (A) order is appealable.

Further, as per IND AS 37, it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Therefore, such amounts have been recognised as Contingent Liabilities in the said Financial Statements.

3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. Nil/- (P.Y 51,89,505/-)

4. The Company has considered interest subsidy income of Rs. Nil from State Government of Rajasthan. (P.Y. Nil)

5. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

6. Details of remuneration to Managing Director and Whole Time Director

7. The Company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise

Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s. 22 of the above Act is have not been given.

8. In determining Earning per share as per Ind AS - 33, the Company has considered net profit after tax. The Number of Shares used for

determining basic EPS is the total Number of shares issued & fully paid up as at 31^st March, 2024

14. Additional Notes:

A. During the year the Company has not revalued its Property Plant & Equipment.

B. No proceedings have been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

C. The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

D. As per the Information available with the Company, there is no such Companies which has been struck, off to or from which any amount is payable or recoverable.

E. The Borrowed Funds from Banks and / or Financial Institutions have been utilized for the purpose for which it was Borrowed.

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

G. The Company does not have any pending creation of charge and satisfaction as well as registration with ROC.

H. To the best of the knowledge and belief of the Company, no funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

I. To the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

J. The Company has compiled with the number of layers prescribed under Section 2(87) of the Companies Act,2013 read with Companies (Restriction on Number of Layers) Rules, 2017.

K. Since the Company has not entered any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013, the

Company is not required to disclose the whether effect of such Scheme of Arrangements have been accounted for in the Books of

Accounts in accordance with ''Scheme " and in accordance with the Scheme and "in accordance with accounting standards".

L. The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or

disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

15. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year''s classification.

As per our report of even date

For and on behalf of

Joshi & Shah For & on behalf of the Board

Chartered Accountants SVP Global Textiles Limited

Firm Reg No. 144627W (CIN : L17290MH1982PLC026358)

Sd/- Sd/- Sd/-

CA Jaydip Joshi Chirag Pittie Gopal Lohia

Partner Director Director

Membership No: -170300 DIN: 00117368 DIN: 09563931

Sd/- Sd/-

Place: - Mumbai Ashok Kumar Pittie Urmi Chhapariya

Date: -30/05/2024 Chief Financial Officer Company Secretary

UDIN: 24170300BKFGWV1497

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Mar 31, 2023

The carrying amounts of trade receivables, cash and bank balances, current loans, current borrowings, and trade payables are considered to be approximately equal to the fair value.

I. Fair value hierarchy

The fair values of the 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.

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 the three levels prescribed under the Indian accounting standard. An explanation of each level is Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

• the fair value of forward foreign exchange contracts is determined using forward exchange rates at the balance sheet date.

o Use of quoted market price or dealer quotes for similar instruments o Using discounted cash flow analysis.

The fair values computed above for assets measured at amortised cost are based on discounted cash flows using a current borrowing rate. They are classified as level 2 fair values in the fair value hierarchy due to the use of unobservable inputs.

22 -B Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

• Credit risk ;

• Liquidity risk ; and

• Market risk

A. Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The company is exposed to credit risk from its operating activities (primarily for trade receivables and loans) and from its financing activities (deposits with banks and other financial instruments).

Credit risk management

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. The Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred losses in respect of trade and other receivables and investments.

The Company''s maximum exposure to credit risk as at 31st March, 2023 and 2022 is the carrying value of each class of financial assets. i Cash and Cash Equivalents

The Company held cash and bank balance with credit worthy banks of Rs. 11.52 Lakhs at March 31,2023 , and Rs 29.04 Lakhs at March 31, 2022). The credit risk on cash and cash equivalents is limited as the Company generally invests in deposits with banks where credit risk is largely perceived to be extremely insignificant.

B. Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - trade payables and borrowings.

Liquidity risk management

The Company''s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A material and sustained shortfall in our cash flow could undermine the Company''s credit rating and impair investor confidence.

C. Market risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices will affect the Company''s income or the value of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments. The Company is exposed to market risk primarily related to interest rate risk and the market value of the investments. i Currency Risk

The functional currency of the Company is Indian Rupee. Currency risk is not material, as the Company does not have any exposure in foreign currency. ii Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

Exposure to interest rate risk

According to the Company interest rate risk exposure is only for floating rate borrowings. Company does not have any floating rate borrowings on any of the Balance Sheet date disclosed in this financial statements. iii Price Risk

Price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. It arises from financial assets such as investments in quoted instruments.

a Fair value sensitivity analysis for fixed rate Instruments

The Company does not account for any fixed rate financial assets or financial liabilities at fair value through Profit or Loss. Therefore, a change in interest rates at the reporting date would not affect Profit or Loss.

b Cash flow sensitivity analysis for variable rate Instruments

The company does not have any variable rate instrument in Financial Assets or Financial Liabilities.

22 -C Capital Management

The company''s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management''s judgement of the appropriate balance of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

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Mar 31, 2021

1. No contract on capital account remains to be executed.

2. Contingent Liabilities - The Company has received income tax assessment order raising demand of Rs. 74.35 crore (P.Y. - Nil). The management has taken a legal opinion from reputed consultant and according to that these demands are not sustainable. The Company has filed appeals at respective forums.

Further, as per IND AS 37, it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Therefore, such amounts have been recognized as Contingent Liabilities in the said Financial Statements.

3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. 5, 65,094/-

4. The Company has considered interest subsidy income of Rs. Nil from State Government of Rajasthan during the Year and Rs 61, 84,149/- shown under Interest subsidy receivable.

5. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

7. The Company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s. 22 of the above Act is have not been given.

8. During the year the Company has issued and allotted upto 2, 23, 80,952 convertible warrants of face value of Rs. 1 each on preferential basis to the specified Promoter/Promoter Group at a price of Rs. 105 per warrant (including premium of Rs. 104 per warrant). The Company received the part payment (25 % of total consideration) of Rs. 58,74,99,990.

9. In determining Earning per share as per Ind AS - 33, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31^st March, 2021

Pursuant to the Special Resolution passed by the shareholders in the Annual General Meeting held on December 28,2020, the Company has sub-divided 1 (one) equity share of face value of INR 10 each, fully paid up into 10 (ten) equity shares of face value of INR 1 each, fully paid up effective from January 15, 2021 as the record date. Consequent to the sub-division of equity shares, 126,50,000 equity shares of face value of INR 10 each has been sub-divided into 12,65,00,000 equity shares of face value of INR 1 each.

Dividends declared by the Company are based on profits available for distribution. On June 29, 2021, the Board of Directors of the Company have proposed a final dividend of Rs 0.03 per share in respect of the year ended March 31, 2021 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash outflow of approximately 37.95 Lakhs.

11. The cash flow Statement As per Ind AS 7 is as per Annexure.

12. No disclosure is required under Ind AS-105 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

13. Deferred Tax Asset / Deferred Tax Liability :

The calculation of DTL & DTA is as below:

15. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year''s classification.

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Mar 31, 2018

Corporate Information

SVP GLOBAL VENTURES LIMITED (the Company) is a listed Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged In Manufacturing of Textiles Goods.

Basis of Preparation

I. Compliance with IND AS

These financial statements “Standalone” have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the ‘Ind AS’) as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 (‘Act’) read with of the Companies (Indian Accounting Standards) Rules,2015 as amended and other relevant provisions of the Act.

These financial statements for the year ended 31st March, 2018 are the first financials with comparatives, prepared under Ind AS. For all previous periods including the year ended 31st March, 2017, the Company had prepared its financial statements in accordance with the accounting standards notified under companies (Accounting Standard) Rule, 2006 (as amended) and other relevant provisions of the Act (hereinafter referred to as ‘Previous GAAP’) used for its statutory reporting requirement in India.

The accounting policies are applied consistently to all the periods presented in the financial statements, including the preparation of the opening Ind AS Balance Sheet as at 1st April, 2016 being the date of transition to Ind AS.

ii.Historical Cost convention

The financial statements have been prepared on the accrual and going concern basis. The financial statements have been prepared on a historical cost basis, except for certain financial assets and liabilities that is measured at fair value as stated in subsequent policies.

The accounting policies have been applied consistently over all the period presented in these financial statements.

iii. Current non-current classification

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle (twelve months) and other criteria set out in the Schedule III to the Act.

A). NOTES FORMING PART OF ACCOUNTS:

1. No contract on capital account remains to be executed.

2. Contingent Liability in the books of Rs. Nil. (P.Y. Bank Guarantee to DGFT of Rs. 1, 41, 60,000/-)

3. The amount of Exchange difference (Net) debited to the profit & Loss Account for the Year Rs. 55,177/

4. The Company has considered interest subsidy income of Rs.3,24,57,399/-from State Government of Rajasthan out of which Rs. 2,43,20,412 /- already been received and balance of Rs. 81,36,987/- shown under Interest subsidy receivable.

5. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

6. Details of remuneration to Managing Director and Whole Time Director

7. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year-end together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

8. In determining Earning per share as per Ind AS - 33, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31^st March, 2018.

9. The cash flow Statement As per Ind AS 7 is as per Annexure.

10. No disclosure is required under Ind AS-105 on “Discontinuing Operations” issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

*Deferred tax Asset is created only to the extent of timing differences, the reversal of which has virtual certainty as per clause 18 of IND AS 12

11. RELATED PARTY TRANSACTIONS:-

1. Related parties particulars pursuant to “ Ind Accounting Standard - 24”

- Scenario Communication Limited holds 67.58% of SVP Global Ventures Limited

- SVP Global Ventures Limited holds 99.99% of Citron Infraprojects Limited

12. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year’s classification.

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Mar 31, 2016

Q. NOTES FORMING PART OF ACCOUNTS:

1. No contract on capital account remains to be executed.

2. Contingent Liability not provided for in the books Rs. Nil ( P.Y. NIL)

3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. Nil.

4. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

5. During the year company has not provided for deferred tax liability.

6. Details of remuneration to Managing Director and Whole Time Director

7. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the yearend together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

8. In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31^st March, 2015.

9. The cash flow Statement As per AS 3 is as per Annexure

10. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

11. RELATED PARTY TRANSACTIONS :-

12. Related parties particulars pursuant to "Accounting Standard - 18"

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Mar 31, 2015

Corporate Information

SVP GLOBAL VENTURES LIMITED (the Company) is a listed Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged for Trading of Gold Diamond, Stones, Fabrics etc.

1. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards as prescribed under section 133 of the companies act 2013('the act') read with rule 7 of the Companies (Accounting) Rules, 2014, the provisions of the companies Act 2013(to the extent notified) and guidelines issued by the Securities and Exchange Board Of India(SEBI). The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below

2. No contract on capital account remains to be executed.

3. Contingent Liability not provided for in the books Rs. Nil ( P.Y. NIL)

4. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. Nil.

5. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

6. During the year company has not provided for deferred tax liability.

7. Details of remuneration to Managing Director and Whole Time Director

8. As required by Accounting Standard – 5, details of Prior Period items debited to profit & Loss a/c. is Rs. 2500/-.

9. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

10 In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31st March, 2015.

11. The cash flow Statement As per AS 3 is as per Annexure

12. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

13. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year's classification As per our report of even date

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Mar 31, 2014

Corporate Information

SVP GLOBAL VENTURES LIMITED (the Company) is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged for Trading of Gold Diamond,Stones,Fabrics etc.

1. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the companies Act 1956. The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below

1. No contract on capital account remains to be executed.

2. Contingent Liability not provided for in the books Rs. Nil ( P.Y. NIL)

3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. Nil (P. Y. Rs. 99,046/-)

4. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

5. During the year company has not provided for deferred tax liability.

6. Details of remuneration to Managing Director and Whole Time Director

7. As required by Accounting Standard - 5, details of Prior Period items debited to profit & Loss a/c. is Rs. NIL.

8. The company has mainly activity of circulation of magazine and motion films. However company has trading activity on Jeweler and Textiles Goods during the year. In the opinion of the management, disclosure of segment reporting pursuant to AS-17 issued by the ICAI is not feasible.

9. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

10. In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31st March, 2014.

11. The cash flow Statement As per AS 3 is as per Annexure

12. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

13. During the year, the company has undertaken a review of all fixed assets in line with the requirement of AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India. Based on such review, no provision for impairment is required to be recognized for the year.

14. RELATED PARTY TRANSACTIONS:-

1. Related parties particulars pursuant to "Accounting Standard - 18" a) LIST OF RELATED PARTIES:

Name of related parties Nature of Transaction relationship enterd during the year

SAMEER RAJIV KAPOOR Key Mangerial NO Personnel CHIRAG VINOD PITTIE YES

NARENDRA MANSINGKA NO

DILLIP KUMAR SAHOO

SCENARIO COMMUNICATION LIMITED Holding YES Company

A TO Z RETAIL LIMITED NO

DOSANI PROPERTIES LIMITED NO

CITRON INFRAPROJECTS LIMITED YES

SHUBHKANCHI TRADING PRIVATE LIMITED NO

SVP TEXTILES VENTURES PRIVATE LIMITED NO

CHEVONNE TRADERS PRIVATE LIMITED NO

RED MAPLE MERCANTILE LIMITED YES

SHRIVALLABH PITTIE INDUSTRIES LIMITED NO

SHRIVALLABH PITTIE MERCANTILE LIMITED Associate YES companies SHRIV ALLABH PITTIE INFRAPROJECTS LIMITED NO

PLATINUM TEXTILES LIMITED YES

JEET MACHINE TOOLS LIMITED NO

SUNRISE HOSPITALITY PRIVATE LIMITED NO

HELIOS MERCANTILE LIMITED YES

AAKASHGANGA INDUSTRIES PRIVATE LIMITED NO

HELIOS EXPORTS LIMITED NO

CHONSIE TRADERS PRIVATE LIMITED NO

15. Figures have been rounded off to the nearest rupee.

16. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year''s classification.

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Mar 31, 2013

1. No contract on capital account remains to be executed.

2. Contingent Liability not provided for in the books Rs. Nil (P.Y. NIL)

3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the Year Rs. 99,046/- (P. Y. Rs. 3,51,959/-)

4. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.

5. During the year company has not provided deferred tax liability.

6. As required by Accounting Standard - 5, details of Prior Period items debited to profit & Loss a/c. is Rs. NIL.

7. The Company has mainly activity of circulation of magazine and motion films. However Company has trading activity on Jeweler and Textiles Goods during the year. In the opinion of the management, disclosure of segment reporting pursuant to AS-17 issued by the ICAI is not feasible.

8. The Company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s 22 of the above Act is have not been given.

9. In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the Total Number of Shares issued & fully paid up as at 31st March, 2013.

10. The cash flow Statement As per AS 3 is as per Annexure - 1

11. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the Company has not discontinued any line of its activity/product line during the year.

12. During the year, the Company has undertaken a review of all fixed assets in line with the requirement of AS-28 on "Impairment- of Assets" issued by the Institute of Chartered Accountants of India. Based on such review, no provision for impairment is required to be recognized for the year.

13. The year end foreign currency exposure that have not been hedged by a derivative instrument or otherwise are given below:

(a) Amount receivable in foreign currency - US $17,966/- (P.Y.US $43,186/-)

14. RELATED PARTY TRANSACTIONS:-

1.Related parties particulars pursuant to "Accounting Standard -18"

a. LIST OF RELATED PARTIES:

l.Key Management Personnel

- Mr. Chirag Pittie

2. Relatives of Key Management Personnel

- Mrs. Kavita Pittie Mother of Shri Chirag Pittie

3.Enterprises in which key management personnel and/or their relatives have significant influence

- Shrivallabh Pittie Infraproject Ltd.,

- Shrivallabh Pittie Mercantile Ltd.,

4. Enterprises with substantial interest

- Platinum Textiles Limited

- Scenario Communication Ltd.,

- Shrivallabh Pittie Infraprojects Ltd.

- Shrivallabh Pittie Mercantile Ltd.

15. Figures have been rounded off to the nearest rupee.

16. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year''s classification.

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Mar 31, 2012

1. During the year the company has reduced the rate of depreciation on brand and copy right from 10% to 5% on Straight Line Basis, consequent upon that profit is overstated by Rs. 7,97,747/- and also assets is overstated by the same amount.

2. No contract on capital account remains to be executed.

3. Contingent Liability not provided for in the books Rs. Nil (P.Y. NIL)

4. The amount of Exchange difference (Net) credited to the profit & Loss Account for the year Rs.,351,959.00/- ( P. Y. debited Rs.67,856)

5. The balances appearing under Sundry Debtors, Sundry Creditors, Advances to Suppliers and others are subject to confirmation.

6. During the year company has not provided deferred tax liability of Rs. 12,745 /-

7. As required by Accounting Standard - 5, details of Prior Period items debited to profit & Loss a/c. is Rs. NIL.

8. The company has mainly activity of circulation of magazine and motion films. However company has trading activity on Jeweler and Grey fabrics during the year. In the opinion of the management, disclosure of segment reporting pursuant to AS-17 issued by the ICAI is not feasible.

9. The company has not received information from suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act, 2006 and hence the disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable and other disclosures required to be made U/s.22 of the above Act is have not been given.

10. In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the total Number of shares issued & fully paid up as at 31st March, 2012.

11. The cash flow Statement As per AS 3 is as per Annexure 1

12. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

13. During the year, the company has undertaken a review of all fixed assets in line with the requirement of AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India. Based on such review, no provision for impairment is required to be recognized for the year.

14. The year end foreign currency exposure that have not been hedged by a derivative instrument or otherwise are given below:

(a) Amount receivable in foreign currency - US $43,186/- (P.Y.US $41,799/-)

15. RELATED PARTY TRANSACTIONS:-

l.Related parties particulars pursuant to "Accounting Standard - 18"

a) LIST OF RELATED PARTIES:

l.Key Management Personnel

- Mr. Chirag Pittie

2. Relatives of Key Management Personnel

- Mrs. Kavita Pittie Mother of Shri Chirag Pittie

3.Enterprises in which key management personnel and/or their relatives have significant influence

- Shrivallabh Pittie Infraproject Ltd.,

- Shri vallabh Pittie Mercantile Ltd.,

4. Enterprises with substantial interest

- Platinum Textiles Limited

- Scenario Communication Ltd.,

- Shrivallabh Pittie Infraprojects Ltd.

- Shrivallabh Pittie Mercantile Ltd.

16. Figures have been rounded off to the nearest rupee.

17. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year's classification.

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Mar 31, 2010

Not Available