Notes to Accounts of Trescon Ltd.

Mar 31, 2025

15.1 Terms/rights attached to equity shares:

The Company has only one class of equity shares having a face value of Rs.10 per share. Accordingly, all equity shares rank equally with regards to dividends & share in the Company''s residual assets. The equity shares are entitled to receive dividend as declared from time to time. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

15.4 : Additional Information regarding equity share capital in the last 5 Years:

i) The Company has not issued any bonus/right shares.

ii) The Company has not undertaken any buy-back of shares.

ii) The Company has not converted any warrants into equity shares during the year.

Note No. 30: Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year. Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

I. Fair value disclosures:

Level 1 - Quoted prices (Unadjusted) in active markets for identical assets & liabilities.

Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset & liability, either directly (i.e. prices) or indirectly (i.e. derive from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (Unobservable inputs).

II. Financial risk management objectives:

In the course of its business, the Company is exposed primarily to fluctuations in interest rates, equity prices, liquidity and credit risk, which may adversely impact the fair value of its financial instruments. The Company assesses the unpredictability of the financial environment and seeks to mitigate potential adverse effects on the financial performance of the Company.

III. Market Risk:

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 three types of risk: currency risk, interest rate risk and other price risk such as equity price risk and commodity price risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

Future specific market movements cannot be normally predicted with reasonable accuracy.

Currency risk:

The Company does not have foreign currency transactions. The company is not exposed to risk of change in foreign currency. Interest rate risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The

Company is not exposed to the risk of changes in market interest rates as the Company does not have any long-term debt obligations with floating interest rates.

Other price risk:

The Company is not exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The

Company does not actively trade these investments.

IV. Interest risk management:

The Company''s interest rate exposure is mainly related to debt obligations. The Company obtains debt to manage the liquidity and fund requirements for its day to day operations. The Company''s exposure to debt in not material.

V. Credit risk management:

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 of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables, unbilled revenue, investments, derivative financial instruments, cash and cash equivalents, bank deposits and other financial assets. None of the financial instruments of the Company result in material concentration of credit risk.

VI. Liquidity risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per 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.

Note 33: Contingent Liabilities(to the extent not provided for):

Claims against the Company not acknowledged as debt* -

Claims in respect of disputed income Tax matters (pending in appeal) - Rs. 121.43 Lakhs

Note 34 - Other disclosures:

34.1 Valuation of Property Plant & Equipment, intangible asset:

The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

34.2 Loans or advances to specified persons:

The Company has given loans or advances in the nature of loans to its promoters, directors, KMPs and related parties, hence reporting is required as per revised schedule III of Companies Act 2013.

34.3 Title deeds of Immovable property

The title deeds of the immovable properties are held in the old name of the company '' M/s. Pushpanjali Floriculture Limited'' as per 7/12 records .

34.4 Details of benami property held:

The Company does not have any Benami property, where any proceedings have been initiated or are pending against the Company for holding benami property under The Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

34.5 Borrowing secured against current assets:

The company has borrowings from banks or financial institutions on the basis of security of current assets, the quarterly returns or statements of current assets filed by the company with banks or financial institutions are as per the books of accounts.

The Company has used the borrowings from banks and financial institutions for the specific purpose for which they were availed.

34.6 Wilful defaulter:

The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

34.7 Relationship with struck off companies:

The Company has no transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

34.8 Registration of charges or satisfaction with Registrar of Companies (ROC):

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

34.9 Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Section 2(87) of the Companies Act, 2013 read with Companies (Restriction on number of layers)

Reason for variances for % change >25%:

Current ratio: Increase in the other current asssets in the current year as compared to previous year has resulted in the increase in the ratio

Debt Service Coverage Ratio: Increase in Cash profit in the current year as compared to previous year has resulted in the increase in the ratio

Return on Equity Ratio: Decrease in profit in the current year as compared to previous year has resulted in the decrease in the ratio

Trade Receivable Turnover Ratio: Decrease in sales in the current year as compared to previous year has resulted in the decrease in the ratio

Trade Payable Turnover Ratio: Decrease in purchases in the current year as compared to previous year has resulted in the decrease in the ratio

Net Capital Turnover Ratio: Decrease in sales in the current year as compared to previous year has resulted in the decrease in the ratio

Net Profit Ratio: Decrease in profit in the current year as compared to the previous year has resulted in the decrease in the ratio

Return on Capital Employed: Decrease in the earnings before tax in the current year as compared to the previous year has resulted in the decrease in the ratio

Return on investment: Decrease in the income from investments in the current year as compared to the previous year has resulted in the decrease in the ratio

34.11 Compliance with approved scheme(s) of arrangements:

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

34.12 Utilisation of borrowed funds and share premium:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the

Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

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

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

34.13 Corporate Social Responsibility:

The provision of Section 135 of the Companies Act, 2013 in respect of Corporate Social Responsibility is not applicable to the Company as the net worth, turnover and profit during the financial year is less than the stipulated amount. Accordingly, no policy has been framed by the Company on Corporate Social Responsibility and there is no reporting requirement pursuant to provisions of Section 134 (3) (o) of the Companies Act.

34.14 Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account.

34.15 Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

Note 35:

The balance in debtors, creditors are subject to confirmation and reconciliation, if any. However as per management opinion, no material impact on financial statements out of such reconciliation is anticipated."

Note 36-

The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendments Rules2021) which is effective from 1^st April,2023 states that every company which uses accounting software for maintaining its books of accounts shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and further creating an edit log of each change made to books of accounts along with the date when such changes were made and ensuring that audit trail cannot be disabled.

The Company has used accounting software (Tally Prime Edit log) for maintaining its books of account which has a feature of recording audit trail (edit log) facility till 23^rd December, 2024 and operated during the above period for all relevant transactions recorded in the software. From 24^th December ,2024 the Company is using the accounting software (Tally Prime) for maintaining its books of account which have a feature of ''disable'' recording audit trail (edit log) facility.

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Mar 31, 2024

M. Provisions, Contingent Liabilities and Contingent Assets:

"A provision is recognised when the Company has a present obligation (Legal and Constructive) as a result of past events 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.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably may not, require an outflow of resources. A contingent liability also arises in extreme cases where there is a probable liability that cannot be recognised because it cannot be measured reliably.

Where there is a possible obligation or a present obligation such that the likelihood of outflow of resources is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements but are disclosed.

N. Employee Benefits:

Short-term and other long-term employee benefits: -

The undiscounted amount of short-term employee benefits expected to be paid in exchange for

._______ . . ii.

the services rendered by employees are recognised during the year when the employees render the service. These benefits include performance incentive and compensated absences which are expected to occur within twelve months after the end of the period in which the employee renders the related service.

The cost of short-term compensated absences is accounted as under:

(a) in case of accumulated compensated absences, when employees render the services that increase their entitlement of future compensated absences; and

• (b) in case of non-accumulating compensated absences, when the absences occur.

O. iLeases:

• The Company accounts for the lease arrangement as follows:

¦ As a lessee:

The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified as set for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:

, * (1) the contract involves the use of an identified asset

(2) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and

(3) the Company has the right to direct the use of the asset. '' . '' , ’ . "

At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee, except for ‘ , *

leases with a term of twelve months or less (short term leases) and low value leases. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straightline basis over the term of the lease.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of the leases. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the group changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

As a lessor:

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever

the terms of the Lease transfer substantially all the risks and rewards of ownership to the Lessee, the contract is classified as a finance Lease. ALL other Leases are classified as operating Leases.

For operating Leases, rental income is recognized on a straight Line basis over the term of the relevant Lease.

P. Inventories

Inventory of Property under development are stated ''at cost or net realisable value, whichever is Lower''. Property under development comprises cost of Land, rates & taxes, construction costs, overheads and expenses incidental to the project undertaken by the Company. Costs towards development of property are charged to statement of profit and Loss proportionate to area sold and when corresponding revenue is recognised.

Q. Significant management judgement in applying accounting policies and estimation uncertainty:

• * ,The preparation of the Company''s financial statements requires management to make judgment,

¦ * « estimates and assumptions that affect the reported amount of revenue, expenses, assets and

Liabilities and the related disclosures.

♦ Significant management judgements:

• The following are significant management judgements in applying the accounting policies of the

Company that have the most significant effect on the financial statements.

1. Recognition of deferred tax assets:

The extent to which deferred tax assets can be recognized is based on an assessment of the probability of the future taxable income against which the deferred tax assets can be utilized.

2. Evaluation of indicators for impairment of assets:

The evaluation of applicability of indicators of impairment of assets requires assessment of several external and internal factors which could result in deterioration of recoverable amount of the assets.

3. Contingent liabilities

At each balance sheet date basis the management judgment, changes in facts and Legal aspects, the Company assesses the requirement of provisions against the outstanding warranties and guarantees. However the actual future outcome may be different from this judgement.

R. Significant management estimates:

Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, Liabilities, income and expenses is provided below. Actual results may be different.

1. Fair value measurements:

Management applies valuation techniques to determine the fair value of financial instruments (where active market quotes are not available). This involves developing estimates and assumptions consistent with how market participants would price the instrument.

2. Useful lives of depreciable/ amortisable assets:

Management reviews its estimate of the useful Lives of depreciable/amortisable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technical and economic obsolescence that may change the utility of certain software, customer IT equipment and other plant and equipment.

I. Fair value disclosures:

Level 1 - Quoted prices (Unadjusted) in active markets for identical assets & Liabilities.

Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset & liability, either directly (i.e. prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (Unobservable inputs).

II. Financial risk management objectives:

In the course of its business, the Company is exposed primarily to fluctuations in interest rates, equity prices, liquidity and credit risk, which may adversely impact the fair value of its financial _m • . instruments. The Company assesses the unpredictability of the financial environment and seeks • , " , to mitigate potential adverse effects on the financial performance of the Company.

III. Market Risk:

» 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 three types of risk: currency risk, interest rate risk and other price risk such as equity price risk and commodity price risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

Future specific market movements cannot be normally predicted with reasonable accuracy.

Currency risk:

The Company does not have foreign currency transactions. The company is not exposed to risk of change in foreign currency.

Interest rate risk: '' . ‘ .

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to the risk of changes in market interest rates as the Company does not have any long-term debt obligations with floating interest rates.

Other price risk:

The Company is not exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments.

IV. Interest risk management:

The Company''s interest rate exposure is mainly related to debt obligations. The Company obtains debt to manage the liquidity and fund requirements for its day to day operations. The Company''s exposure to debt in not material.

V. Credit risk management:

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 of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables, unbilled revenue, investments, derivative financial instruments, cash and cash equivalents, bank deposits and other financial assets. None of the financial instruments of the Company result in material concentration of credit risk.

VI. Liquidity risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per 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.

Note 28 - Related party transactions

a) Related party and nature of the related party relationship with whom transactions have taken place during the year

Directors / Key Management Personnel

Mr. Sanjay Mehta - Whole-time Director (w.e.f. 16.12.2023)

Mr.Dinesh Patel - Executive Director » Mr. Kishor Patel - Executive Director ♦ Mr. Hareshkumar Sambhaji Suthar - Independent Director * . Mr. Jinang Dineshkumar Shah - Independent Director

Mrs. Nidhi Mistry - Independent Director (w.e.f. 16.12.2023)

Mrs.Pooja Narendrabhai Joshi - Independent Director (10.04.2024) , '' , ‘ , * , * ,

. Mr.Abhishek Patil - Chief Financial Officer (upto 31.12.2023)

Mr.Mandar Chavan - Company Secretary and Compliance Officer Mr. Rahul Thakkar - CFO (w.e.f. 07.02.2024)

Mr. Rahul Patel - CEO (w.e.f. 23.05.2024)

b) Enterprises owned or Significantly influenced by Directors or Key Management Personnel or their Relatives

M/s. Renaissance Buildcon

M/s. Golden ARC Ventures LLP

M/s. Unique Property Enterprises Private Limited

M/s. Catapult Realty Consultants

M/s. Arihant Construction Co

M/s. Renaissance Construction (Janata Sevak Nagar)

M/s. Renaissance Homes

M/s. Generic Engineering Construction and Project Limited M/s. Heben Chartered Resources Pvt Ltd

Note 29: Contingent Liabilities (to the extent not provided for):

Claims against the Company not acknowledged as debt:

Claims in respect of disputed income Tax matters (pending in appeal) - Rs. 121.43 Lakhs Note 30 - Other disclosures:

30.1 Valuation of Property Plant & Equipment, intangible asset:

The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

30.2 Loans oradvances to specified persons:

No loans or advances in the nature of loans are granted to promoters, directors, KMPS and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.

30.3 Title deeds of Immovable property

There is no such immovable property held by the Company presented/classified as ''Property, plant and equipment'', ''Investment Property'' or as ''Non-Current Assets Held for Sale'' as on 31.03.2024.

30.4 Details of benami property held:

The Company does not have any Benami property, where any proceedings have been initiated or are pending against the Company for holding benami property under The Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

30.5 Borrowing secured against current assets:

The Company does not have borrowings from banks on the basis of security of current assets.

30.6 Wilful defaulter:

The Company has not been declared wilful defaulter by any bank or financial institution or other Lender.

30.9 Relationship with struck off companies:

The Company has no transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

30.10 Registration of charges or satisfaction with Registrar of Companies (ROC):

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

• 30.11 Compliance with number of layers of companies:

• .The Company has complied with the number of layers prescribed under the Section 2(87) of the

• .Companies Act, 2013 read with Companies (Restriction on number of layers) Rules, 2017. . * . * .

Reason for variances for % change >25%:

Debt Equity Ratio : Due to new recognition of Leased Liability has resulted in the increase in the ratio.

Debt Service Coverage Ratio : Due to new recognition of leased liability has resulted in the decrease in the ratio.

Return on Equity Ratio: Decrease in profit after due to increase in other expense for new project resulted in decrease in the ratio.

Return on Capital Employed: Decrease in the earnings before tax in the current year as compared to the previous year and new recognition of leased liability in the current year has resulted in the decrease in the ratio.

30.13 Utilisation of borrowed funds and share premium:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the

Intermediary shall:

(a) 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

(b) provide any guarantee, security or the Like to or on behalf of the Ultimate Beneficiaries

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

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

30.14 Corporate Social Responsibility:

The provision of Section 135 of the Companies Act, 2013 in respect of Corporate Social Responsibility is not applicable to the Company as the net worth, turnover and profit during the financial year is less than the stipulated amount. Accordingly, no policy has been framed by the Company on Corporate Social Responsibility and there is no reporting requirement pursuant to provisions of Section 134 (3) (o) of the Companies Act.

30.15 Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account.

30.16 Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

30.17 Utilisation of borrowings availed from banks and financial institutions:

No borrowings availed by the company from banks and financial institutions.

As per our report of even date

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

Chartered Accountants Firm number: 151040W

Sanjay Mehta Dinesh Patel

Whole time Director Chairman and Managing Director

(DIN:03591761) (DIN:00462565)

CA Namita Agrawal Proprietor

Membership No. 188559

Rahul Thakkar Mandar Chavan

UDIN:24188559BKGRVT9607 Chief Financial Officer Company Secretary

Place: Mumbai Place: Mumbai

Date : May 23, 2024 Date : May 23, 2024

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Mar 31, 2023

M. Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognised when the Company has a present obligation (Legal and Constructive) as a result of past events 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.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably may not, require an outflow of resources. A contingent liability also arises in extreme cases where there is a probable liability that cannot be recognised because it cannot be measured reliably.

Where there is a possible obligation or a present obligation such that the likelihood of outflow of resources is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements but are disclosed.

N. Employee Benefits:

Short-term and other Long-term employee benefits: -

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by employees are recognised during the year when the employees render the service. These benefits include performance incentive and compensated absences which are expected to occur within twelve months after the end of the period in which the employee renders the related service.

The cost of short-term compensated absences is accounted as under:

(a) in case of accumulated compensated absences, when employees render the services that increase their entitlement of future compensated absences; and

(b) in case of non-accumulating compensated absences, when the absences occur.

No provision for gratuity has been made as no employee has put in qualifying period of service entitlement of this benefit.

O. Leases:

The Company accounts for the lease arrangement as follows:

As a lessee:

The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified as set for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:

(1) the contract involves the use of an identified asset

(2) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and

(3) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short term leases) and low value leases. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straightline basis over the term of the lease.

Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they will be exercised.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

The Lease Liability is initially measured at amortized cost at the present value of the future Lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of the leases. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the group changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

As a lessor:

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

For operating leases, rental income is recognized on a straight line basis over the term of the relevant lease.

P. Cash Flow Statement:

Cash and cash equivalents comprise of cash on hand, cash at banks, short term deposits and short term highly liquid investments that are readily convertible to known amount of cash and which are subject to an insignificant risk of changes in value.

Q. Significant management judgement in applying accounting policies and estimation uncertainty:

The preparation of the Company''s financial statements requires management to make judgment, estimates and assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the related disclosures.

Significant management judgements:

The following are significant management judgements in applying the accounting policies of the Company that have the most significant effect on the financial statements.

1. Recognition of deferred tax assets:

The extent to which deferred tax assets can be recognized is based on an assessment of the probability of the future taxable income against which the deferred tax assets can be utilized.

2. Evaluation of indicators for impairment of assets:

The evaluation of applicability of indicators of impairment of assets requires assessment of several external and internal factors which could result in deterioration of recoverable amount of the assets.

3. Contingent liabilities

At each balance sheet date basis the management judgment, changes in facts and legal aspects, the Company assesses the requirement of provisions against the outstanding warranties and guarantees. However the actual future outcome may be different from this judgement.

R. Significant management estimates:

Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be different.

1. Fair value measurements:

Management applies valuation techniques to determine the fair value of financial instruments (where active market quotes are not available). This involves developing

estimates and assumptions consistent with how market participants would price the instrument.

2. Useful lives of depreciable/ amortisable assets:

Management reviews its estimate of the useful lives of depreciable/amortisable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technical and economic obsolescence that may change the utility of certain software, customer relationships, IT equipment and other plant and equipment.

New Accounting Standards, Amendments to Existing Standards, Annual Improvements and Interpretations Effective Subsequent to March 31,2023:

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 31, 2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below :

Ind AS 1, Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and the impact of the amendment is insignificant the standalone financial statements.

Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of ''accounting estimates'' and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and there is no impact on its Standalone financial statements.

Ind AS 12, Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023.The Company has evaluated the amendment and there is no impact on its Standalone financial statements

Level 1 - Quoted prices (Unadjusted) in active markets for identical assets & Liabilities.

Level 2 - Inputs other than quoted prices included within level 1 that are observable for the asset & liability, either directly (i.e. prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (Unobservable inputs).

II. Financial risk management objectives:

In the course of its business, the Company is exposed primarily to fluctuations in interest rates, equity prices, liquidity and credit risk, which may adversely impact the fair value of its financial instruments. The Company assesses the unpredictability of the financial environment and seeks to mitigate potential adverse effects on the financial performance of the Company.

III. Market Risk:

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 three types of risk: currency risk, interest rate risk and other price risk such as equity price risk and commodity price risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

Future specific market movements cannot be normally predicted with reasonable accuracy. Currency risk:

The Company does not have foreign currency transactions. The company is not exposed to risk of change in foreign currency.

Interest rate risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to the risk of changes in market interest rates as the Company does not have any long-term debt obligations with floating interest rates.

Other price risk:

The Company is not exposed to equity price risks arising from equity investments. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments.

IV. Interest risk management:

The Company''s interest rate exposure is mainly related to debt obligations. The Company obtains debt to manage the liquidity and fund requirements for its day to day operations. The Company''s exposure to debt in not material.

V. Credit risk management:

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 of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables, unbilled revenue, investments, derivative financial instruments, cash and cash equivalents, bank deposits and other financial assets. None of the financial instruments of the Company result in material concentration of credit risk.

VI. Liquidity risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per 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.

Note 25 - Related party transactions

a) Related party and nature of the related party relationship with whom transactions have taken place during the year

Directors / Key Management Personnel

Mr.Vilas Kharche - Wholetime Director

Mr.Dinesh Patel - Managing Director (w.e.f. 16.03.2023)

Mr. Kishor Patel - Wholetime Director (w.e.f. 16.03.2023)

Mr.Rohit Kharche - Executive Director (Upto 16.03.2023)

Mr.Virchand Lalka - Managing Director (Upto 16.03.2023)

Mr. Hareshkumar Sambhaji Suthar - Independent Director Mr. Jinang Dineshkumar Shah - Independent Director Mrs.Pooja Narendrabhai Joshi - Independent Director Mr.Abhishek Patil - Chief Financial Officer Mr.Mandar Chavan - Company Secretary and Compliance Officer

Note 27 - Other disclosures:

27.1 Impact of covid 19 on business:

The Company''s operations were impacted by the Covid 19 pandemic. In preparation of these results, the Company has taken into account internal and external sources of information to assess possible impacts of the pandemic, including but not limited to assessment of liquidity and going concern, recoverable values of its financial and non-financial assets, impact on revenues and estimates of residual costs to complete ongoing projects. Based on current indicators of future economic conditions, the Company has sufficient liquidity and expects to fully recover the carrying amount of its assets. Considering the evolving nature of the pandemic, its actual impact in future could be different from that estimated as at the date of approval of these financial results. The Company will continue to monitor any material changes to future economic conditions.

27.2 Valuation of Property Plant & Equipment, intangible asset:

The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

27.3 Loans or advances to specified persons:

No loans or advances in the nature of loans are granted to promoters, directors, KMPS and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.

27.4 Title deeds of Immovable property

The title deeds of the immovable properties are held in the old name of the company '' M/s. Pushpanjali Floriculture Limited'' as per 7/12 records in PY 21-22.

There is no immovable property as at the end of FY 22-23.

27.5 Details of benami property held:

The Company does not have any Benami property, where any proceedings have been initiated or are pending against the Company for holding benami property under The Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

27.6 Borrowing secured against current assets:

The Company does not have borrowings from banks on the basis of security of current assets.

27.7 Wilful defaulter:

The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

27.8 Relationship with struck off companies:

The Company has no transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

27.9 Registration of charges or satisfaction with Registrar of Companies (ROC):

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

27.10 Compliance with number of layers of companies:

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

Reason for variances for % change >25%:

Return on Equity Ratio: increase in profit in the current year as compared to previous year has resulted in the increase in the ratio

Trade Receivable Turnover Ratio: Decrease in sales in the current year as compared to previous year has resulted in the decrease in the ratio

Trade Payable Turnover Ratio: Decrease in purchases in the current year as compared to previous year has resulted in the decrease in the ratio

Net Capital Turnover Ratio: Decrease in sales in the current year as compared to previous year has resulted in the decrease in the ratio

Net Profit Ratio: Decrease in sales in the current year as compared to the previous year has resulted in the decrease in the ratio

Return on Capital Employed: Increase in the earnings before tax in the current year as compared to the previous year has resulted in the increase in the ratio

Return on investment: increase in the income from investments in the current year as compared to the previous year has resulted in the increase in the ratio

27.12 Compliance with approved scheme(s) of arrangements:

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

27.13 Utilisation of borrowed funds and share premium:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

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

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

27.14 Corporate Social Responsibility:

The provision of Section 135 of the Companies Act, 2013 in respect of Corporate Social Responsibility is not applicable to the Company as the net worth, turnover and profit during the financial year is less than the stipulated amount. Accordingly, no policy has been framed by the Company on Corporate Social Responsibility and there is no reporting requirement pursuant to provisions of Section 134 (3) (o) of the Companies Act.

27.15 Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account.

27.16 Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

27.17 Utilisation of borrowings availed from banks and financial institutions:

No borrowings availed by the company from banks and financial institutions.

As per our report of even date

For Koshal & Associates For and on behalf of the Board of Directors

Chartered Accountants Firm number: 121233W

Vilas Kharche Dinesh Patel

Chairman and Managing Director

Whole-time Director (DIN: 00462565)

(DIN:02202006)

Koshal Maheshwari Proprietor

Membership No. 043746

Abhishek Patil Mandar Chavan

Chief Financial Officer Company Secretary

Place: Mumbai Place: Mumbai

Date : May 29, 2023 Date : May 29, 2023

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Mar 31, 2018

The Company has Only one Class of equity shares having par value of Rs.10 per Shares. Each holder of Equity Shares is Entitled to one vote per share. In the event of liquidation of the company, the holders of equity share will be entitled to receive remaning assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders.

- Disclosure in relation to Micro and Small enterprises ''Suppliers'' as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (''Act''). The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum Number as allocated after filing of the said Memorandum. Accordingly, the disclosures above in respect of the amounts payable to such enterprises as at the period end has been made based on information received and available with the Company. As explained by management there is no outstanding balance related to Micro and Small enterprises ''Suppliers'' as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (''Act'') as at year end.

Note No: 1 Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year. Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

NOTE NO. : 2 Exemptions applied

Ind AS 101 allows first-time adopters certain exemptions from the retrospective application of certain requirements under Ind AS. The Company has applied the following exemptions:

Since there is no change in the functional currency, the company has elected to continue with the carrying value measured under the previous GAAP and use that carrying values as the deemed cost for property, plant and equipment on the transition date.

A previous GAAP revaluation for an item of plant, property and equipment may be used as deemed cost, provided that at the date of revaluation, the revaluation was broadly comparable to fair value, or cost or depreciated cost in accordance with Ind AS.

Ind AS 101 permits a first time adopter to elect to continue with the carrying value for all of its propety, plant and equipment as recognised in the financial statements aas at the date of transition to Iind AS, measured as per previous GAAP and use that as its deemed cost as at the date of transition. Accordingly, the Group has elected to measure all of property, plant and equipment at the previuos GAAP carrying value.

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI at the date of transition to Ind AS.The Group has elected to apply this exemption for its investment in equity instruments.

Note 3: Some of the balances of current loans and current trade payables are subject to confirmation and reconciliation of any.