Notes to Accounts of Vikas Lifecare Ltd.

Mar 31, 2025

2.16 Provisions, Contingent Liabilities and Contingent Assets

Provision are measured at the Present value of the management''s best estimate (these estimated are reviewed
at each reporting date and adjusted to reflect the current best estimate) of the expenditure required to settle
the present obligation at the end of reporting period. Provisions involving substantial degree of estimation in
measurement are recognized when there is a present obligation as a result of past events and it is probable
that there will be an outflow of resources.

Contingent liabilities are disclosed only when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future
events which is not wholly within the control of the Company or a present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle the obligation or
estimate of the amount cannot be measured reliably.

Contingent Asset

2.17 Revenue Recognition

Revenue from contracts with customers is recognised when control of goods & services is transferred to
the customer at an amount that reflects the consideration to which the company expects to be entitled in
exchange of transferring promised goods or services having regards to terms of the contract and is recognised
to the extent that it is probable that the economic benefits will flow to the company and the revenue can be
reliably measured, regardless of when the payment is being made. Amount of sales are net of goods and
service tax, sale returns , trade allowances and discounts but inclusive of excise duty.

To determine whether to recognize revenue, the company follows a 5-step process:

1. Identifying the contract with a customer

2. Identifying the performance obligations

3. Determining the transaction price

4. Allocating the transaction price to the performance obligations

5. Recognising revenue when/as performance obligation(s) are satisfied.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity.
Commitments are future liabilities for contractual expenditure, classified and disclosed as follows:

a. estimated amount of contracts remaining to be executed on capital account and not provided for;

b. uncalled liability on shares and other investments partly paid;

c. funding related commitment to associate and joint venture companies; and

d. other non-cancellable commitments, if any, to the extent they are considered material and relevant in the
opinion of management.

Commitments include the amount of purchase orders (net of advances) issued to parties for completion
of assets.

The company considers the terms of the contract and its customary business practice to determine the
transaction price.

In all cases, the total transaction price is allocated amongst the various performance obligations based on
their relative standalone selling price. The transaction price excludes amounts collected on behalf of third
parties. The consideration promised include fixed amounts, variable amounts, or both.

Revenue is recognised either at a point in time or over time, when (or as) the company satisfies performance
obligations by transferring the promised goods or services to its customers.

For each performance obligation identified the company determines at contract inception whether it satisfies
the performance obligation over time or satisfies the performance obligation at point in time. If any entity
does not satisfy a performance obligation over time, the performance obligation is satisfied at a point in time.
A receivable is recognised where the company''s right to consideration is unconditional (i.e. any passage of
time is required before payment if the consideration is due).

When either party to a contract has performed, an entity shall present the contract in the balance sheet as
contract asset or contract liability, depending on the relationship between the entity''s performance and the
customer''s payment.

While this represents significant new guidance, the implementation of this new guidance had no impact on the
timing or amount of revenue recognised by the company in any year.

Company continues to account for export benefits on accrual basis.

Other income

All other income is recognized on accrual basis when no significant uncertainty exists on their receipt.

Interest income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to
the company and the amount of income can be measured reliably. Interest is accrued on time proportion basis,
by reference to the principle outstanding at the effective interest rate.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the companyâs
right to receive is established.

2.18 Non-current assets held for sale and discontinued operations

Non-current assets (including disposal groups) classified as held for sale are measured at the lower of their
carrying value and fair value less costs to sell.

Assets and disposal groups are classified as held for sale if their carrying value will be recovered through a sale
transaction rather than through continuing use. This condition is only met when the sale is highly probable and
the asset, or disposal group, is available for immediate sale in its present condition and is marketed for sale at a
price that is reasonable in relation to its current fair value. The Company must also be committed to the sale, which
should be expected to qualify for recognition as a completed sale within one year from the date of classification.
Where a disposal group represents a separate major line of business or geographical area of operations, or
is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area
of operations, then it is treated as a discontinued operation. The post-tax profit or loss of the discontinued
operation together with the gain or loss recognised on its disposal are disclosed as a single amount in the
statement of profit and loss, with all prior periods being presented on this basis.

2.19 Foreign Currency Conversions/Transactions

The Companyâs Standalone Financial Statements are presented in Indian Rupees( in Rs. Lakhs). Foreign
Currency Transactions are recorded at the exchange rates prevailing on the date of the transactions. Gains
and losses arising out of subsequent fluctuations are accounted for on actual payments or realisations as
the case may be. Monetary assets and liabilities denominated in foreign currency as on Balance Sheet date
are translated into functional currency at the exchange rates prevailing on that date and Exchange differences
arising out of such conversion are recognised in the Statement of Profit and Loss.

2.20 Income Taxes

Tax expense for the year comprises of current and deferred tax. The tax currently payable is based on taxable
profit for the year.

a) Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the statement of profit and loss because it excludes items of income or expense that are taxable
or deductible in other years and it further excludes items that are never taxable or deductible. The Companyâs
liability for current tax is calculated using tax rates and tax laws that have been enacted or substantively
enacted by the end of the reporting period.

b) Deferred Tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying value of
assets and liabilities in the financial statements and the corresponding tax bases used in the computation of
taxable profit and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences. In contrast, deferred tax assets are only recognised to the
extent that it is probable that future taxable profits will be available against which the temporary differences
can be utilised.

The carrying value of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the
asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when
the liability is settled or the asset is realised based on the tax rates and tax laws that have been enacted or
substantially enacted by the end of the reporting period. The measurement of deferred tax
liabilities and assets reflects the tax consequences that would follow from the manner in which the Company
expects, at the end of the reporting period, to recover or settle the carrying value of its assets and liabilities.
Deferred tax assets and liabilities are offset to the extent that they relate to taxes levied by the same tax
authority and there are legally enforceable rights to set off current tax assets and current tax liabilities within
that jurisdiction.

c) Minimum Alternate Tax (MAT)

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax for the
year. The deferred tax asset is recognised for MAT credit available only to the extent that it is probable that the
company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed
to be carried forward.

In the year in which the company recognizes MAT credit as an asset, it is created by way of credit to the
statement of profit and loss and shown as part of deferred tax asset.

The company reviews the MAT credit entitlement asset at each reporting date and writes down the asset to the
extent that it is no longer probable that it will pay normal tax during the specified period._

2.21 Employee Benefits

i) Short Term Employee Benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided.

A liability is recognized for the amount expected to be paid under performance related pay if the Company
has a present, legal or constructive obligation to pay this amount as a result of past service provided by the
employee and the obligation can be estimated reliably.

ii) Post-Employment benefits

Employee benefit that are payable after the completion of employment are Post-Employment Benefit (other
than termination benefit). Company has identified two types of post employment benefits:

a) Defined contribution plans

Defined contribution plans are those plans in which the company pays fixed contribution into separate entities
and will have no legal or constructive obligation to pay further amounts. Provident Fund and Employee State
Insurance are Defined Contribution Plans in which company pays a fixed contribution and will have no further
obligation beyond the monthly contributions and are recognised as an expenses in Statement of Profit & Loss.

b) Defined benefit plans

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. Company pays
Gratuity as per provisions of the Gratuity Act, 1972. The Companyâs net obligation in respect of defined benefit
plans is calculated separately for each plan by estimating the amount of future benefit that employees have
earned in return for their service in the current and prior periods; that benefit to employees is discounted to
determine its present value.

The calculation is performed annually by a qualified actuary using the projected unit credit method. 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. Any actuarial gains or losses pertaining to components of re-measurements of net defined benefit
liability/(asset) are recognized in OCI in the period in which they arise.

2.22 Borrowing Cost

Borrowings costs directly attributable to the acquisition, construction or production of qualifying assets, which
are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are
added to the cost of those assets, until such time as the assets are substantially ready for the intended use
or sale.

Investment income earned on temporary investment of specific borrowings pending their expenditure on
qualifying assets is recognised in the statement of profit and loss.

Discounts or premiums and expenses on the issue of debt securities are amortised over the term of the related
securities and included within borrowing costs. Premiums payable on early redemptions of debt securities, in
lieu of future finance costs, are recognised as borrowing costs.

All other borrowing costs are recognised as expenses in the period in which it is incurred.

2.23 Earning Per Share

Basic Earning Per Share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by weighted average number of equity shares outstanding during the period. The weighted average
number of equity shares is adjusted for bonus shares, bonus element in the right issue to existing shareholders.
For the purposeofcalculatingdilutedearningspershare, net profit after taxduringtheyear and the weightedaverage
number of shares outstanding during the year are adjusted for the effect of all dilutive potential equity shares.

2.24 Leases

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 asset for a define period
of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an
identified assets, the Company assesses whether: (i) the contact involves the use of an identified asset (ii) the
Company has substantially all of the economic benefits from use of the asset through the period of the lease
and (iii) the Company has the right to direct the use of the asset.

(a) The Company as a lessee, The Company recognises a right of use asset and a lease liability at the lease
commencement date. The right of use asset is initially measured at cost, which comprises the initial amount of
the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial
direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the
underlying asset or the site on which it is located, less any lease incentives received.

The right of use asset is subsequently depreciated using the straight-line method from the commencement
date to the earlier of the end of the useful life of the right of use asset or the end of the lease term. The
estimated useful lives of right of use assets are determined on the same basis as those of property and
equipment. In addition, the right of use asset is periodically reduced by impairment losses, if any, and adjusted
for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the Companyâs incremental borrowing rate. For leases with reasonably similar characteristics, the
Company, on a lease by lease basis, may adopt either the incremental borrowing rate specific to the lease or
the incremental borrowing rate for the portfolio as a whole.

Lease payments included in the measurement of the lease liability comprise the fixed payments, including
in-substance fixed payments and lease payments in an optional renewal period if the Company is reasonably
certain to exercise an extension option;

The lease liability is measured at amortised cost using the effective interest method

The Company has elected not to recognise right of use assets and lease liabilities for short-term leases
that have a lease term of 12 months or less and leases of low-value assets. The Company recognises the
lease payments associated with these leases as an expense on a straight-line basis over the lease term.
The Company applied a single discount rate to a portfolio of leases of similar assets in similar economic
environment with a similar end date.

(b) The company as lessor-

Leases for which the Company is a lessor are classified as finance or operating leases. 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.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease.
Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount
of the leased asset and recognised on a straight-line basis over the lease term.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the Companyâs
net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant
periodic rate of return on the Companyâs net investment outstanding in respect of the leases.

Subsequent to initial recognition, the Company regularly reviews the estimated unguaranteed residual value
and applies the impairment requirements of Ind AS 109, recognising an allowance for expected credit losses
on the lease receivables.

Finance lease income is calculated with reference to the gross carrying amount of the lease receivables, except
for credit impaired financial assets for which interest income is calculated with reference to their amortised
cost (i.e. after a deduction of the loss allowance).

When a contract includes both lease and non-lease components, the Company applies Ind AS 115 to allocate
the consideration under the contract to each component.

2.25 Statement of Cash Flows

Statement of cash flows is prepared in accordance with the Indirect method prescribed in Ind AS-7 ''Statement
of cash flows.

2.26 Segment reporting

The operating segments are the segments for which separate financial information is available and for which
operating profit/loss amounts are evaluated regularly by the Managing Director and Chief Executive Officer
(who is the Companyâs chief operating decision maker) in deciding how to allocate resources and in assessing
performance.

The accounting policies adopted for segment reporting are in conformity with the accounting policies of the
Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified
to segments on the basis of their relationship to the operating activities of the segment. Inter segment revenue
is accounted on the basis of transactions which are primarily determined based on market / fair value factors.
revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to
segments on a reasonable basis have been included under ''unallocated revenue / expenses / assets / liabilitiesâ.

2.27 Dividend

Final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by the Companyâs Board of Directors

*An amount of 1244.30 lakhs (including interest receivable) is recoverable pursuant to the cancellation of a property
purchase agreement. The amount is contractually refundable within 18 months from the date of cancellation, along with
interest at 6% per annum (also refer note-note-10)

**Share Transfer Consideration Receivable Rs. 1250 Lakhs (Previous Year Rs. 1300 Lakhs) in relation disposal of shares
of subsidiary company due from Just Right Life Limited. The receivable is unsecured, bears no interest, and is expected
to be realised within 12 months.

*** Rs. 50.00 lakhs refundable to the Company out of ?5,250.00 lakhs advanced by the company for a proposed share
purchase. Pursuant to a modification in the transaction terms, debentures amounting to ?5,200.00 lakhs will be allotted
instead, and the balance ?50.00 lakhs is recoverable. In pursuance to this, the amount of Rs. 5200 lakhs has been
classified as other current asset (refer note-16) and Rs. 50 lakhs has been shown as other financial assets.

***Rs. 198.74 lakhs refundable to the Company, representing the interest component on ?2,500.00 lakhs that had been
advanced under a collaboration agreement related to a real estate project. The agreement was subsequently cancelled,
and the principal amount has been refunded. The interest component is receivable as per the terms of the cancellation
and has been classified as a financial asset in accordance with Ind AS 109.

*An amount of ?5,200.00 lakhs advanced to unrelated party Hallow Securities Pvt. Ltd. for the proposed acquisition of
40 Optionally Convertible Debentures (OCDs) and 12 Non-Convertible Debentures (NCDs) of Lotus Green Constructions
Private Limited, each having a face value of ?1.00 crore. The NCDs carry a coupon rate of 10% per annum. This advance
was originally made towards a proposed share purchase agreement and accordingly classified as investment. However
the agreement has been subsequently cancelled during the current year. Pursuant to the revised arrangement, the
Company is to be allotted the aforementioned debentures. As the allotment is pending as of the reporting date, the
amount has been classified as an advance under Other Current Assets.For the previous year ending 31st March 2024,
advance paid amounting to Rs. 1500 lakhs for purchase of shares of Benchmark News Labs LLP has been adjusted
against shares purchased and accordingly classified as Investment in current financial year.

The Company has classified two immovable properties as non-current assets held for sale in accordance with Ind AS
105 - Non-current Assets Held for Sale and Discontinued Operations. Sale agreements have been executed for both
properties, and the total sale consideration of ?390.00 lakhs has been received in full as advance, which is disclosed
under Note 24 - Other Current Liabilities.

The carrying amount of these properties as at 31 March 2025 is ?328.20 lakhs. No further depreciation has been
charged post their classification as held for sale.

These properties are currently mortgaged against working capital borrowings of ?400.00 lakhs availed by the Companyâs
subsidiary. In the previous year ended 31 March 2024, three properties had been classified as held for sale. During the
current year, the sale agreement for one of those properties, having a carrying amount of ?49.97 lakhs, was cancelled.
Accordingly, the property has been reclassified under Property, Plant and Equipment (PPE).

Share Warrants:

- The company has Issued 24,25,00,000 convertible warrants @ Rs. 4.00 per share (F.V of Rs.1 at premium of Rs.3.00)
against which the company has realised 25% of the issue amount i.e Rs. 24,25,00,000 as upfront payment on warrants
allotment.

- The company has Converted 3,50,00,000 Shares warrants into equal number of equity shares @ Rs. 4.00 per share
(F.V of Rs.1 at premium of Rs.3.00) and received balance 75% of the issue amount i.e Rs. 10,50,00,000 w.r.t. warrants
conversion in Fy 2023-24 and the remaining 20,75,00,000 Shares warrants into equal number of equity shares @ Rs.
4.00 per share (F.V of Rs.1 at premium of Rs.3.00) and received balance 75% of the issue amount i.e Rs. 62,25,00,000
w.r.t. warrants conversion in Fy 2024-25. The Shares were listed on Bombay stock exchange & National Stock
Exchange of India.

The company has Issued 24,25,00,000 convertible warrants @ Rs. 4.00 per share (F.V of Rs.1 at premium of Rs.3.00) against
which the company has realised 25% of the issue amount i.e Rs. 24,25,00,000 as upfront payment on warrants allotment. The
company has Converted 3,50,00,000 Shares warrants into equal number of equity shares @ Rs. 4.00 per share (F.V of Rs.1
at premium of Rs.3.00) and received balance 75% of the issue amount i.e Rs. 10,50,00,000 w.r.t. warrants conversion in Fy

2023- 24 and the remaining 20,75,00,000 Shares warrants into equal number of equity shares @ Rs. 4.00 per share (F.V of Rs.1
at premium of Rs.3.00) and received balance 75% of the issue amount i.e Rs. 62,25,00,000 w.r.t. warrants conversion in Fy

2024- 25. The Shares were listed on Bombay stock exchange & National Stock Exchange of India.

Capital Reserve

The Company recognizes profit or loss on purchase, sale, issue or cancellation of the Companyâs own equity instruments
to capital reserve
Securities Premium Reserve

Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount
of the premium received on those shares shall be transferred to Securities Premium Reserves.

Retained Earnings

Retained Earning are created from the profit / loss of the Company, as adjusted for distributions to owners, transfers to
other reserves, etc.

Remeasurement of defined benefit Plan

Remeasurement of defined benefit Plan represents gain or losses arising on the actuarial valuation of defined benefit plans.
Equity Instruments through Other comprehensive Income

This reserve represent the cumulative gains and losses arising on the revaluation of equity instruments measured at fair
value through other comprehensive income, net of amounts reclassified to retained earnings when those assets have
been disposed off.

There have been no transfers between levels during the period.

Valuation process and technique used to determine fair value

(i) The management assessed that fair value of cash and cash equivalents, trade receivables, trade payables, bank
overdrafts and other current financial assets and liabilities approximate their carrying amounts largely due to the
short-term maturities of these instruments.

(ii) The fair values of the equity investment which are quoted, are derived from quoted market prices in active
markets. The Investments measured at fair value and falling under fair value hierarchy Level 3 are valued on the
basis of valuation reports provided by external valuers with the exception of certain investments, where cost
has been considered as an appropriate estimate of fair value because of a wide range of possible fair value
measurements and cost represents the best estimate of fair values within that range.

(iii) The fair value of non-current borrowings carrying floating-rate of interest is not impacted due to interest rate
changes, and will not be significantly different from their carrying amounts as there is no significant change in
the under-lying credit risk of the Company (since the date of inception of the loans).

Financial instruments and cash deposits

Credit risk from balances/investments with banks and financial institutions is managed in accordance with the
Companyâs treasury risk management policy. Investments of surplus funds are made only with approved counterparties
and within limits assigned to each counterparty. The limits are assigned based on corpus of investable surplus and
corpus of the investment avenue. The limits are set to minimize the concentration of risks and therefore mitigate
financial loss through counterpartyâs potential failure to make payments
Trade receivables and other financial assets

The Company has established a credit policy under which each new customer is analysed individually for creditworthiness
before the payment and delivery terms and conditions are offered. The Companyâs review includes external ratings, if
they are available, financial statements, credit agency information, industry information and business intelligence. Sale
limits are established for each customer and reviewed annually. Any sales exceeding those limits require approval from
the appropriate authority as per policy.

In monitoring customer credit risk, customers are grouped according to their credit characteristics, including whether
they are an individual or a legal entity, whether they are a institutional, dealers or end-user customer, their geographic
location, industry, trade history with the Company and existence of previous financial difficulties.

Expected credit loss for trade receivables:

The Company based on internal assessment which is driven by the historical experience/ current facts available in
relation to default and delays in collection thereof, the credit risk for trade receivables is considered low. The Company
estimates its allowance for trade receivable using lifetime expected credit loss.

Loan & Other financial assets measured at amortised cost includes security deposits, fixed deposits loan to related
parties and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such
amounts continuously, while at the same time internal control system in place ensure the amounts are within defined
limits.

B) Liquidity risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its present and future obligations
associated with financial liabilities that are required to be settled by delivering cash or another financial asset. The
Companyâs objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral obligations .
The Company requires funds both for short term operational needs as well as for long term investment programs mainly
in growth projects. The Company closely monitors its liquidity position and deploys a robust cash management system.
It aims to minimise these risks by generating sufficient cash flows from its current operations, which in addition to the
available cash and cash equivalents, liquid investments and sufficient committed fund facilities, will provide liquidity.

a) Maturities of financial liabilities

The tables below analyse the Companyâs financial liabilities into relevant maturity. Companyâs based on their contractual
maturities for all non-derivative financial liabilities.

The below table analyses the Companyâs non-derivative financial liabilities as at the reporting date, into relevant maturity
groupings based on the remaining period (as at that date) to the contractual maturity date. The amounts disclosed in
the below table are the contractual undiscounted cash flows.

C) Market Risk

a) 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 rates. The Companyâs exposure to the risk of changes in market rates relates primarily to the
Companyâs non-current debt obligations
with floating interest rates.

b) Foreign Currency Risk

Foreign exchange risk arises on future commercial transactions and on all recognised monetary assets and liabilities,
which are denominated in a currency other than the functional currency of the Company. The Companyâs management
has set a policy wherein exposure is identified, a benchmark is set and monitored closely, and accordingly suitable
hedges are undertaken. The policy also includes mandatory initial hedging requirements for exposure above a threshold.
The Company''s foreign currency exposure arises mainly from foreign exchange imports and exports primarily with
respect to USD and Euro

As at the end of the reporting period , the carrying amounts of the Company''s foreign currency denominated monetary
assets and liabilities in respect of the foreign currency i.e. USD and Euro and derivative to hedge the exposure, are as
follows:

Based on the movements in the foreign exchange rates historically and the prevailing market conditions as at the
reporting date, the Companyâs Management has concluded that the above mentioned rates used for sensitivity are
reasonable benchmarks.

c) Competition and Price Risk

The Company faces competition from competitors. Nevertheless, it believes that it has competitive advantage in terms
of high quality products and by continuously upgrading its expertise and range of products to meet the needs of its
customers.

d) Equity price risk management

The Company''s exposure to equity price risk arises from investment held by the Company and classified as FVTOCI and
FVTPL. In general, FVTOCI investments are strategic investments and are not held for trading purposes. Reports on the
equity portfolio are submitted to the Companyâs senior management on a regular basis

(i) Equity price risk sensitivity analysis

The following table demonstrate the sensitivity to a reasonable possible change in value of investment in Equity Shares
and compulsorily convertible preference shares, with all other variables held constant. The impact on the Companyâs
Equity Share Capital due to changes in the price of Equity Share and compulsorily convertible preference shares is as
follows:

? 51 Capital management

For the purpose of the Companyâs capital management, capital includes issued equity capital and all other equity
reserves attributable to the equity holders of the Company. The primary objective of the Companyâs capital management
is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and
maximise shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions
and the requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is net debt
divided by total capital plus net debt. The Companyâs policy is to keep the gearing ratio optimum. The Company includes
within net debt, interest bearing term loans, lease liabilities and working capital borrowings.

* The company is involved in an income tax dispute for the Assessment Year (A.Y.) 2017-18, with a disputed amount
of Rs. 45.03 Lakhs. The Commissioner of Income Tax (Appeals) (CIT(A)) has partially allowed the appeal, and the
company intends to file a further appeal before the Income Tax Appellate Tribunal (ITAT).

** On the Income Tax Portal, the outstanding demand of Rs 4.96 Lakh, Rs. 482.21 Lakhs, Rs. 208.23 and Rs. 121.50
Lakhs is appearing as outstanding with respect to AY 2016-17, AY 2022-23, AY 2023-24 and AY 2024-25 respectively,
the demand is subject to verification and examination with the records and matter shall be resolved in due course. Out
of the above, the company has provided for a liability of ?274.14 lakh for AY 2022-23 and ?120.61 lakh for AY 2024-25
as self-assessment tax, including interest calculated up to 31.03.2025.

*** The company had filed an appeal in earlier years before the Commissioner (Appeals) against the order passed by
the Assistant Commissioner, Ward-207, Department of Trade and Taxes. The demand of ?15.65 lakh pertained to a
mismatch in GSTR-2A/2B filed by the supplier for Q1 of FY 2017-18. An amount equivalent to the demand was paid as
stay money. As the appeal is no longer considered tenable, the company has now charged the amount to the Statement
of Profit and Loss as an expense during the current year.

**** The Company is having contingent liabilities on export obligation dues pending on the imported goods against
advance Authorisation of Rs. 110.29 Lakhs

The Enforcement Directorate has initiated proceedings under Sections 3, 4, 44, and 45 of the Prevention of Money
Laundering Act, 2002 against various persons including officials of the Company. Vikas Lifecare Limited has
categorically denied all allegations and is in the process of filing a writ petition under Section 528 of the Bharatiya
Nagarik Suraksha Sanhita, 2023 (corresponding to Section 482 Cr.P.C.) before the Honâble High Court for quashing
of the ongoing proceedings. The matter is presently pending for arguments on the application filed on behalf of the
Company seeking supply of un-relied documents.The Directorate of Enforcement, Delhi Zonal Office, New Delhi had
issued a provisional attachment order (Order) bearing number 04/2020 and file number ECIR/10/DZ-1/2017 under
Section 5(1) of the Prevention of Money Laundering Act, 2002 (PMLA) against the Company, its then Director Mr. Vishal
Garg and other third parties. Through the said attachment, bank account SBI Bank, Nariana Vihar, New Delhi maintained
with has been attached for an amount of Rs. 6.20 Lakhs. The ED had realised a sum of Rs 6.20 Lakhs from the attached
accounts.

There is demand of Rs 1.22 Lakhs for past outstanding TDS demand as per traces site as at 31.03.2025

- The company has received adjudication order January 28, 2025 passed by Additional Commissioner CGST &
Central Excise Commisionerate wherein demand of Rs. 18.25 Crores (Excluding Interest and Penalty) is raised
under section 74(9) of the CGST Act on account of wrong availment of Input Tax Credit from the suppliers during
the period 2017-18 to 2021-22. The Company has contested the matter and has filed appeal against the said
Order before the Adjudicating Authority. The company has already deposited Rs. 2,00,00,000/- (Rupees Two
Crores Only) under protest to the credit of the Government treasury.

- The company has not obtained registration of ESI & PF for Head office, so the amount has not been deposited
which have been booked by the company during the year. Interest & penalty may arise on the same but cannot
be determined as on the date of the financial statements.

b. Details of investments made and guarantees & securities provided are as-:

- For details of investment, refer note 6.

- Loan from Union Bank of India of Rs. 155.61 ( Previous year Rs 174.58 Lakhs) Secured against hypothecation of car
at the rate of interest 9.65% p.a. payable in 84 Months commencing from 17th Feburary''2024 via EMI of Rs. 2.91 lakhs
per month. The remaining maturity period is 70 Months from Balance sheet Date.

Loan from Union Bank of India of Rs. Nil ( Previous Year Rs. 11.23 Lakhs) Secured against hypothecation of car at the
rate of interest 7.30% p.a. sanction vide sanction letter dated 11th Aug''2021 payable in 84 Months commencing from
12th Sept''2021 via EMI of Rs.0.24 Lakhs per month. The Loan has been foreclosed by the way of prepayment.

Loan from Punjab & Sind Bank of Rs. 164.27 Lakhs ( Previous Year :191.60 Lakhs) Secured against hypothecation of car
at the rate of interest 9.43% p.a. payable in 84 Months commencing from 30th Nov''2022 via EMI of Rs.3.67 Lakhs per
month. The remaining maturity period is 55 Months from Balance sheet Date.

Loan from Punjab & Sind Bank of Rs. 569.24 Lakhs ( Previous Year :612.35 Lakhs) Secured against hypothecation of
Property situated at House No. 64, Babar Road, Bengali Market, New Delhi-110001 at the rate of interest 8.05% p.a.
payable in 120 Months commencing from 31st Oct''2022 via EMI of Rs.8.17 Lakhs per month. The remaining maturity
period is 90 Months from Balance sheet Date.

Loan from Union Bank of India of Rs. 884.09 ( Previous Year Rs 990.44 Lakhs) Secured against hypothecation of car
at the rate of interest 9.75% p.a. payable in 84 Months commencing from 13th Mar''2024 via EMI of Rs.16.48 Lakhs per
month. The remaining maturity period is 71 Months from Balance sheet Date.

? 60 Other Statutory Information

a) Title deeds of all immovable properties are held in the Name of Company.

b) The company does not have any Benami Property, where any proceeding has been initiated pending against the

company for holding any Benami Property.

c) The company has not given any Loans and advance in the nature of loans granted to Promotors, Directors, KMPs
and the related parties either severally or jointly with any other person.

c) The company has not been declared as a wilful defaulter by any lender who has the power to declare a Company

as a wilful defaulter at any time during the financial year or after the end of the reporting period but before the
date when the financial statements are approved.

d) The company has utilized funds raised from the issue of securities or borrowings from banks & financial
institutions for the specific purposes, for which they were issued/taken.

e) 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 intermediatory shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries

f.) The company has not received any funds from any person(s) or entity(ies), including foreign entity(ies) (funding
party) with the understanding (whether recorded in writing or otherwise) that the company shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries.

g) There are no transactions and/or balances outstanding with companies struck off under section 248 of the
Companies Actâ2013.

h) The company does not have any transaction which is not recorded in the books of accounts but has been
surrendered or disclosed as income during the year in the tax assessment under the Income Tax Actâ1961.

i) The company has not traded or invested in cryptocurrency or virtual currency during the financial year.

j) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies
Actâ2013 read with Companies (Restriction on Number of Layers) Rulesâ2017.

k) The company does not have any charges or satisfaction of charges which is yet to be registered with the registrar
of companies (ROC) beyond the satisfactory period except the following: (1) The satisfaction of charge for value
of Rs 93.37 Lakhs with respect to vehcile loans repaid in earlier years yet has not been registered with registrar
of companies (ROC) yet due to procedural delays.

l) During the year, the company surrendered its Cash Credit under eDFS facility with the bank, which was secured
against current assets (Stocks and trade receivables belonging to ONGC Petro Additions Limited). The credit
limit was officially closed in July 2024. As the company intented to close the facility, it didnot submit the quarterly
return or statement of assets for the month of April-July 2024.

m) The Company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses.

n) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by
the Company.

o) CWIP aging schedule:

? 61 Other Notes:

i) In the opinion of the Board of Directors, Trade Receivables, other current financial assets, and other current
assets have a value on realization in the ordinary course of the companyâs business, which is at least equal to
the amount at which they are stated in the balance sheet.

(ii) The balances of some of the accounts classified as Trade Payables, Trade Receivables, etc. are in the process
of reconciliations/confirmation. In the opinion of the Board of Directors, the result of such exercise will not have
any material impact on the carrying value.

(iii) The Board of Directors at its meeting held on May 28, 2025, has approved the Financial Statement for the year
ended March 31, 2025.

FOR KSMC AND ASSOCIATES For and on behalf of the Board of Directors

Chartered Accountants M/s Vikas Lifecare Limited

(FRN: 003565N)

CA.SACHIN SINGHAL Sundeep Kumar Dhawan Chandan Kumar

Membership No.: 505732 Managing Director Director cum CFO

UDIN: 25505732BMOSCJ6893 DIN:09508137 DIN : 08139239

Sanjay Jaiswal

Place: NEW DELHI Company Secretary

Date: 28-05-2025 PAN No. AINPJ2836J

Mar 31, 2024

2.16 Provisions, Contingent Liabilities and Contingent Assets

Provision are measured at the Present value of the management''s best estimate (these estimated are reviewed at each reporting date and adjusted to reflect the current best estimate) of the expenditure required to settle the present obligation at the end of reporting period. Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent liabilities are disclosed only when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events which is not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or estimate of the amount cannot be measured reliably.

Contingent Asset

Commitments are future liabilities for contractual expenditure, classified and disclosed as follows:

a. estimated amount of contracts remaining to be executed on capital account and not provided for;

b. uncalled liability on shares and other investments partly paid;

c. funding related commitment to associate and joint venture companies; and

d. other non-cancellable commitments, if any, to the extent they are considered material and relevant in the opinion of management.

Commitments include the amount of purchase orders (net of advances) issued to parties for completion of assets.

2.17 Revenue Recognition

Revenue from contracts with customers is recognised when control of goods & services is transferred to the customer at an amount that reflects the consideration to which the company expects to be entitled in exchange of transferring promised goods or services having regards to terms of the contract and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured, regardless of when the payment is being made. Amount of sales are net of goods and service tax, sale returns , trade allowances and discounts but inclusive of excise duty.

To determine whether to recognize revenue, the company follows a 5-step process:

1. Identifying the contract with a customer

2. Identifying the performance obligations

3. Determining the transaction price

4. Allocating the transaction price to the performance obligations

5. Recognising revenue when/as performance obligation(s) are satisfied.

The company considers the terms of the contract and its customary business practice to determine the transaction price.

In all cases, the total transaction price is allocated amongst the various performance obligations based on their relative standalone selling price. The transaction price excludes amounts collected on behalf of third parties. The consideration promised include fixed amounts, variable amounts, or both.

Revenue is recognised either at a point in time or over time, when (or as) the company satisfies performance obligations by transferring the promised goods or services to its customers.

A receivable is recognised where the company''s right to consideration is unconditional (i.e. any passage of time is required before payment if the consideration is due).

When either party to a contract has performed, an entity shall present the contract in the balance sheet as contract asset or contract liability, depending on the relationship between the entity''s performance and the customer''s payment.

While this represents significant new guidance, the implementation of this new guidance had no impact on the timing or amount of revenue recognised by the company in any year.

Company continues to account for export benefits on accrual basis.

Other income

All other income is recognized on accrual basis when no significant uncertainty exists on their receipt.

Interest income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the company and the amount of income can be measured reliably. Interest is accrued on time proportion basis, by reference to the principle outstanding at the effective interest rate.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the company''s right to receive is established.

2.18 Non-current assets held for sale and discontinued operations

Non-current assets (including disposal groups) classified as held for sale are measured at the lower of their carrying value and fair value less costs to sell.

Company must also be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification.

Where a disposal group represents a separate major line of business or geographical area of operations, or is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations, then it is treated as a discontinued operation. The post-tax profit or loss of the discontinued operation together with the gain or loss recognised on its disposal are disclosed as a single amount in the statement of profit and loss, with all prior periods being presented on this basis.

2.19 Foreign Currency Conversions/Transactions

The Company''s Standalone Financial Statements are presented in Indian Rupees( in Rs. Lakhs). Foreign Currency Transactions are recorded at the exchange rates prevailing on the date of the transactions. Gains and losses arising out of subsequent fluctuations are accounted for on actual payments or realisations as the case may be. Monetary assets and liabilities denominated in foreign currency as on Balance Sheet date are translated into functional currency at the exchange rates prevailing on that date and Exchange differences arising out of such conversion are recognised in the Statement of Profit and Loss.

2.20 Income Taxes

Tax expense for the year comprises of current and deferred tax. The tax currently payable is based on taxable profit for the year.

a) Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of profit and loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company''s liability for current tax is calculated using tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

b) Deferred Tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying value of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences. In contrast, deferred tax assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised.

The carrying value of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised based on the tax rates and tax laws that have been enacted or substantially enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying value of its assets and liabilities. Deferred tax assets and liabilities are offset to the extent that they relate to taxes levied by the same tax authority and there are legally enforceable rights to set off current tax assets and current tax liabilities within that jurisdiction.

c) Minimum Alternate Tax (MAT)

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax for the year. The deferred tax asset is recognised for MAT credit available only to the extent that it is probable that the company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward.

In the year in which the company recognizes MAT credit as an asset, it is created by way of credit to the statement of profit and loss and shown as part of deferred tax asset.

The company reviews the "MAT credit entitlement" asset at each reporting date and writes down the asset to the extent that it is no longer probable that it will pay normal tax during the specified period.

2.21 Employee Benefits

i) Short Term Employee Benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided.

A liability is recognized for the amount expected to be paid under performance related pay if the Company has a present, legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

ii) Post-Employment benefits

Employee benefit that are payable after the completion of employment are Post-Employment Benefit (other than termination benefit). Company has identified two types of post employment benefits:

a) Defined contribution plans

Defined contribution plans are those plans in which the company pays fixed contribution into separate entities and will have no legal or constructive obligation to pay further amounts. Provident Fund and Employee State Insurance are Defined Contribution Plans in which company pays a fixed contribution and will have no further obligation beyond the monthly contributions and are recognised as an expenses in Statement of Profit & Loss.

b) Defined benefit plans

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. Company pays Gratuity as per provisions of the Gratuity Act, 1972. The Company''s net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit to employees is discounted to determine its present value.

The calculation is performed annually by a qualified actuary using the projected unit credit method. 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. Any actuarial gains or losses pertaining to components of re-measurements of net defined benefit liability/(asset) are recognized in OCI in the period in which they arise.

2.22 Borrowing Cost

Borrowings costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for the intended use or sale.

Investment income earned on temporary investment of specific borrowings pending their expenditure on qualifying assets is recognised in the statement of profit and loss.

Discounts or premiums and expenses on the issue of debt securities are amortised over the term of the related securities and included within borrowing costs. Premiums payable on early redemptions of debt securities, in lieu of future finance costs, are recognised as borrowing costs.

All other borrowing costs are recognised as expenses in the period in which it is incurred.

2.23 Earning Per Share

For the purpose of calculating diluted earnings per share, net profit after tax during the year and the weighted average number of shares outstanding during the year are adjusted for the effect of all dilutive potential equity shares.

2.24 Leases

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 asset for a define period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified assets, the Company assesses whether: (i) the contact involves the use of an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of the asset.

(a) The Company as a lessee, The Company recognises a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.

The right of use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right of use asset or the end of the lease term. The estimated useful lives of right of use assets are determined on the same basis as those of property and equipment. In addition, the right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company''s incremental borrowing rate. For leases with reasonably similar characteristics, the Company, on a lease by lease basis, may adopt either the incremental borrowing rate specific to the lease or the incremental borrowing rate for the portfolio as a whole.

Lease payments included in the measurement of the lease liability comprise the fixed payments, including in-substance fixed payments and lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option;

The lease liability is measured at amortised cost using the effective interest method

The Company has elected not to recognise right of use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term. The Company applied a single discount rate to a portfolio of leases of similar assets in similar economic environment with a similar end date.

(b) The company as lessor-

Leases for which the Company is a lessor are classified as finance or operating leases. 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.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company''s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company''s net investment outstanding in respect of the leases.

Subsequent to initial recognition, the Company regularly reviews the estimated unguaranteed residual value and applies the impairment requirements of Ind AS 109, recognising an allowance for expected credit losses on the lease receivables.

Finance lease income is calculated with reference to the gross carrying amount of the lease receivables, except for credit impaired financial assets for which interest income is calculated with reference to their amortised cost (i.e. after a deduction of the loss allowance).

When a contract includes both lease and non-lease components, the Company applies Ind AS 115 to allocate the consideration under the contract to each component.

2.25 Statement of Cash Flows

Statement of cash flows is prepared in accordance with the Indirect method prescribed in Ind AS-7 ''Statement of cash flows.

2.26 Segment reporting

The operating segments are the segments for which separate financial information is available and for which operating profit/loss amounts are evaluated regularly by the Managing Director and Chief Executive Officer (who is the Company''s chief operating decision maker) in deciding how to allocate resources and in assessing performance.

The accounting policies adopted for segment reporting are in conformity with the accounting policies of the Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment. Inter segment revenue is accounted on the basis of transactions which are primarily determined based on market / fair value factors. revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on a reasonable basis have been included under ''unallocated revenue / expenses / assets / liabilities''.

2.27 Dividend

Final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the Company''s Board of Directors

Secured loan from Banks

- Loan from Axis Bank of Rs. Nil ( Previous year Rs. 5.00 Lakhs) Secured against hypothecation of car at the rate of interest 8.51% p.a. The loan is repayable in 36 equal monthly instalment of Rs. 1.05 Lakhs per month. The Loan is repaid fully during the year. NOC from the bank is received on August 12, 2023.

- Loan from Union Bank of India of Rs. 174.58 ( Previous year Rs Nil) Secured against hypothecation of car at the rate of interest 9.65% p.a. payable in 84 Months commencing from 17th Feburary''2024 via EMI of Rs. 2.91 lakhs per month. The remaining maturity period is 82 Months from Balance sheet Date.

- Loan from Union Bank of India of Rs. Nil ( Previous year Rs 6.30 Lakhs) Secured against hypothecation of car at the rate of interest 7.40% p.a.. vide sanction letter dated 11th August''2021 payable in 36 Months commencing from 29th August''2021 via EMI of Rs. 0.39 lakhs per month.The Loan is repaid fully during the year. NOC from the bank is received on April 04, 2024.

Loan from Union Bank of India of Rs. 11.23 Lakhs ( Previous Year Rs. 12.82 Lakhs) Secured against hypothecation of car at the rate of interest 7.30% p.a. sanction vide sanction letter dated 11th Aug''2021 payable in 84 Months commencing from 12th Sept''2021 via EMI of Rs.0.24 Lakhs per month. The remaining maturity period is 53 Months from Balance sheet Date.

Loan from Union Bank of India of Rs. Nil ( Previous Year Rs 51.11 Lakhs) Secured against hypothecation of car at the rate of interest 7.25% p.a. sanction vide sanction letter dated 3rd Nov''2021 payable in 84 Months commencing from 2nd Dec''2021 via EMI of Rs.1.60 Lakhs per month.The Loan is repaid fully during the year. NOC from the bank is received on Feburary 02, 2024.

Loan from Punjab & Sind Bank of Rs. 191.60 Lakhs ( Previous Year :215.35 Lakhs) Secured against hypothecation of car at the rate of interest 9.43% p.a. payable in 84 Months commencing from 30th Nov''2022 via EMI of Rs.3.67 Lakhs per month. The remaining maturity period is 67 Months from Balance sheet Date.

Loan from Punjab & Sind Bank of Rs. 612.35 Lakhs ( Previous Year :652.21) Secured against hypothecation of Property situated at House No. 64, Babar Road, Bengali Market, New Delhi-110001 at the rate of interest 8.05% p.a. payable in 120 Months commencing from 31st Oct''2022 via EMI of Rs.8.17 Lakhs per month. The remaining maturity period is 102 Months from Balance sheet Date.

Loan from Union Bank of India of Rs. 990.44 ( Previous Year Rs Nil) Secured against hypothecation of car at the rate of interest 9.75% p.a. payable in 84 Months commencing from 13th Mar''2024 via EMI of Rs.16.48 Lakhs per month. The remaining maturity period is 83 Months from Balance sheet Date.

Note:

1. Unit No.G-31,FirstFloor without Roof Right Plot No. M.P.I.Vikas Cinemall Indranagar, Tehsil-Dehradun, Distt-Dehradun, Uttarakhand, with market value of Rs. 60.00 Lakhs with a carrying cost of Rs 49.48 Lakhs. Agreement to sell has been executed on October 15, 2021 between both the parties to sell the property for a consideration of Rs. 50.00 Lakhs Against which company has received a sum of Rs. 50.00 Lakhs as advance. The said agreement has been extenended by way of addendum agreement entered into by both parties on November 07, 2022 and same is valid upto October 15, 2024

2. Shop No G-19-A Plot No 813/1 GT Road Shahdara New Delhi with market value of Rs. 90.00 Lakhs with a carrying value of Rs 87.25 Lakhs . Agreement to sell has been executed on October 15, 2021 between both the parties to sell the property for a consideration of Rs. 90.00 Lakhs against which company has received a sum of Rs. 90.00 Lakhs as advance, which is shown under note no. 24.This property is mortgaged against working capital facility of Rs. 400 lakhs (including fund based Rs. 250 lakhs & non fund based Rs. 150 lakhs) availed by subsidiary company M/s Genesis Gas solutions private limited from union bank of india. The said agreement has been extenended by way of addendum agreement entered into by both parties on January 21, 2023 and same is valid upto June 12, 2024

3. House No. 79 Nagar Nigam No. 19/10A/79, Jaipur House Housing Society, Lohamandi Ward, Tehsil & District Agra (UP)-282010 with market value of Rs.351.00 Lakhs and a carrying value of Rs 241.44 Lakhs. Agreement to sell has been executed on December 29, 2021 between both the parties to sell the property for a consideration of Rs. 300.00 Lakhs Against which company has received a sum of Rs. 300.00 Lakh as advance. This property is mortgaged against working capital facility of Rs. 400 lakhs (including fund based Rs. 250 lakhs & non fund based Rs. 150 lakhs) availed by subsidiary company M/s Genesis Gas solutions private limited from union bank of india.The said agreement extenended by way of addendum agreement entered into by both parties on November 07, 2022 and same is valid upto December 29, 2024

A. Credit risk

Credit risk is the risk that a counterparty fails to discharge an obligation to the Company. The Company is exposed to this risk for various financial instruments, for example by granting loans and receivables to customers, placing deposits, etc. The Company''s maximum exposure to credit risk is limited to the carrying amount of following types of financial assets.

- cash and cash equivalents,

- trade receivables,

- loans & receivables carried at amortised cost, and

- deposits with banks

- Investments

a) Credit risk management

The Company assesses and manages credit risk based on internal credit rating system, continuously monitoring defaults of customers and other counterparties, identified either individually or by the Company, and incorporates this information into its credit risk controls. Internal credit rating is performed for each class of financial instruments with different characteristics. The Company assigns the following credit ratings to each class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets.

(a) Low credit risk (b) Moderate credit risk (c) High credit risk

B. Liquidity risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its present and future obligations associated with financial liabilities that are required to be settled by delivering cash or another financial asset. The Company''s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral obligations . The Company requires funds both for short term operational needs as well as for long term investment programs mainly in growth projects. The Company closely monitors its liquidity position and deploys a robust cash management system. It aims to minimise these risks by generating sufficient cash flows from its current operations, which in addition to the available cash and cash equivalents, liquid investments and sufficient committed fund facilities, will provide liquidity.

a. Maturities of financial liabilities

The tables below analyse the Company''s financial liabilities into relevant maturity. Company''s based on their contractual maturities for all non-derivative financial liabilities.

The below table analyses the Company''s non-derivative financial liabilities as at the reporting date, into relevant maturity groupings based on the remaining period (as at that date) to the contractual maturity date. The amounts disclosed in the below table are the contractual undiscounted cash flows.

b) Foreign Currency Risk

Foreign exchange risk arises on future commercial transactions and on all recognised monetary assets and liabilities, which are denominated in a currency other than the functional currency of the Company. The Company''s management has set a policy wherein exposure is identified, a benchmark is set and monitored closely, and accordingly suitable hedges are undertaken. The policy also includes mandatory initial hedging requirements for exposure above a threshold.

The Company''s foreign currency exposure arises mainly from foreign exchange imports and exports primarily with respect to USD.

As at the end of the reporting period , the carrying amounts of the Company''s foreign currency denominated monetary assets and liabilities in respect of the primary foreign currency i.e. USD and derivative to hedge the exposure, are as follows:

c) Competition and Price Risk

The Company faces competition from competitors. Nevertheless, it believes that it has competitive advantage in terms of high quality products and by continuously upgrading its expertise and range of products to meet the needs of its customers.

d) Equity price risk management

The Company''s exposure to equity price risk arises from investment held by the Company and classified as FVTOCI. In general, these investments are strategic investments and are not held for trading purposes. Reports on the equity portfolio are submitted to the Company''s senior management on a regular basis

(i) Equity price risk sensitivity analysis

The following table demonstrate the sensitivity to a reasonable possible change in value of investment in Equity Shares and compulsorily convertible preference shares, with all other variables held constant. The impact on the Company''s Equity Share Capital due to changes in the price of Equity Share and compulsorily convertible preference shares is as follows:

? 51 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company''s policy is to keep the gearing ratio optimum. The Company includes within net debt, interest bearing term loans and working capital borrowings.

b. Details of investments made and guarantees & securities provided are as-:

- For details of investment, refer note 6.

-Loan from Axis Bank of Rs. Nil ( Previous year Rs. 5.00 Lakhs) Secured against hypothecation of car at the rate of interest 8.51% p.a. The loan is repayable in 36 equal monthly instalment of Rs. 1.05 Lakhs per month. The Loan is repaid fully during the year. NOC from the bank is received on August 12, 2023.

Loan from Union Bank of India of Rs. 999.44 ( Previous Year Rs Nil) Secured against hypothecation of car at the rate of interest 9.75% p.a. payable in 84 Months commencing from 13th Mar''2024 via EMI of Rs.16.48 Lakhs per month. The remaining maturity period is 83 Months from Balance sheet Date.

*Secured from Bank includes cash credit ( under e-DFS) Limit Rs 333.71 Lakhs ( Previous Year Rs.451.83 Lakhs) from State Bank of India which is secured against hypothecation of stock and book receivables belonging of ONGC Petro Additions Limited. As per latest renewal letter dated 19.02.2024, the present applicable ROI is 1% above MCLR which is presently 8.55% i.e 9.55% The said loan is secured against collateral security of residential flat at Second Floor,A-25,G.T Road,Bharola wala Bagh,Near Indira Nagar,Delhi-110033. Further the personal guarantee of Mr. Vikas Garg and Mr. Vivek garg, Promoter & Promoter Group of the company is being provided to the bank.

? 61 Other Statutory Information

a) The company does not have any Benami Property, where any proceeding has been initiated pending against the company for holding any Benami Property.

b) The company has advanced loan to its related party M/S Shashi Beriwal & Co. Pvt Ltd & Genesis Gas Solutions Pvt. Ltd. during the financial year which are repayable on demand or where the agreement document specifies any terms or period of repayment. The total outstanding balance of such loans as on reporting date is Rs 608.37 Lakhs which constitutes 66.27% of the total Loans and Advances in the nature of loans as on reporting date.

c) The company has not been declared as a wilful defaulter by any lender who has the power to declare a Company as a wilful defaulter at any time during the financial year or after the end of the reporting period but before the date when the financial statements are approved.

d) The company has utilized funds raised from the issue of securities or borrowings from banks & financial institutions for the specific purposes, for which they were issued/taken.

e) 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 intermediatory shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries

f) The company has not received any funds from any person(s) or entity(ies), including foreign entity(ies) (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries.

g) There are no transactions and/or balances outstanding with companies struck off under section 248 of the Companies Act''2013.

h) The company does not have any transaction which is not recorded in the books of accounts but has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act''1961.

i) The company has not traded or invested in cryptocurrency or virtual currency during the financial year.

j) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act''2013 read with Companies (Restriction on Number of Layers) Rules''2017.

k) The company does not have any charges or satisfaction of charges which is yet to be registered with the registrar of companies (ROC) beyond the satisfactory period except the following: (1) No charge has been created on hypothecation of vehicle against loan of Rs 12.50 Lakh from banks, however the loan has been repaid during the year. (2) The satisfaction of charge for value of Rs 93.37 Lakhs with respect to vehcile loans repaid during the year has not been registered with registrar of companies (ROC) yet.

l) Details of monthly statement of current assets filed by the company with bank & their difference is as per Note No.25A

? 62 Approval of standalone financial statements

The standalone financial statements were approved for issue by the Board of Directors of the Company on 29th May, 2024 subject to approval of shareholders.

As per our report of even date attached

FOR KSMC AND ASSOCIATES For and on behalf of the Board of Directors

Chartered Accountants M/s Vikas Lifecare Limited

^(FRN: 0035⁶5^N) Sundeep Kumar Dhawan Vijay Kumar Sharma

Managing Director Whole time Director & CEO

CA.SACHIN SINGHAL DIN:09508137 DIN : 08721833

Membership No.: 505732 UDIN:24505732BKEGKG1544

Chandan Kumar Bhardwaj Sanjay Jaiswal

Place: NEW DELHI Director cum CFO Company Secretary

Date: 29.05.2024 DIN : 08139239 Membership No. A54224

Mar 31, 2023

Land Includes Property Land at Khasra No. 41/4 , Sultanpur Dabas ,Delhi-110084, land at Village Madanpur Dabas Kh No. 28/15 & Ganpati Dham Bhadurgarh, Haryana which is in the name of M/s Vikas Ecotech Limited. The said land was transferred to M/s Vikas Lifecare Limited vide Demerger of M/s Vikas Ecotech Limited . Further such land is hypothecated against Cash credit Limit of Rs.10,200/- Lakhs availed by M/s Vikas Ecotech Limited under consortium finance by M/s Punjab National Bank, State Bank of India and Bank of Baroda.

a. Disclosures relating to fair valuation of investment property

Fair value of the above investment property comprises of following mentioned property:

1. Property owned by the company situated at Office No. 412,4th Floor, B Wing, Express Zone, Western Express Highway, Goregaon(East), Mumbai-400097 has been valued by Value Edge Professionals Pvt Ltd (Registered Valuer) having Reg No. lBBl/ RvE/02/2022/159 at a Fair Value of Rs. 194.00 Lakhs vide Certificate no. 2022-23/05/VEP/FMV/100-10 dated 15th May''2022.

2. Property owned by the company situated at OlJice No. 1001, 10th Floor, B Wing, Express Zone, Western Express Highway, Goregaon(East), Mumbai-400097 has been valued by Value Edge Professionals Pvt Ltd (Registered Valuer) having Reg No. lBBl/ RvE/02/2022/159 at a Fair Value of Rs. 496.00 Lakhs vide Certificate no. 2022-23/05/VEP/FMV/100-09 dated 15th May''2022. Fair Value Hierarchy

The fair value of investment property has been determined by external independent property valuers, having appropriate recognised professional qualification and recent experience in the location and category of the property being valued.

The fair value measurement for all of the investment property has been categorised as a level 3 fair value based on the inputs to the valuation techniques used.

Description of valuation technique used

The Investigations for this valuation exercise are ''carried out according to IVS 102.20.Investigations made during the course of this valuation assignment have been appropriately carried away for the purpose of the valuation assignment and the basis of value. Sufficient evidences have been assembled by means of inspection, inquiry, computation and analysis to ensure that the valuation is properly supported. The following are the nature and sources of information upon which we relied upon:

i. Circle Rates Notified bv the concerned authority for the respective area.

ii. Sale Deed for area calculations and other verifications.

iii. Rates Prevailing in Open Market for Commercial Property in the Vicinity.

b. Premises given on lease:

The Company has given investment property ( land and building) on operating lease for 3 years and is renewable further as per mutually agreeable terms.

** Equity Investment in Associate company i.e. Advik Laboratories Limited taken at fair value in accordance with Ind AS-27. Company holds 22.04 % shares in its Associate company. Company has disposed off its 22.04% stake in the company during Financial Year ended 31st March,2023.

*** The company has acquired 75,000, 0.001% Compulsory Convertible Preference shares having Face Value of Rs.10 per share at the premium of Rs.1480/- per shares of M/s BriJ Gopal Construction Company Private Limited during the year ended 31st March,2023. The total Investment of 4,95,000 shares are fair valued at Rs. 785.03 per share as on 31.03.2023 on the basis of valuer report.

**** For the period ended 31st March,2023, The company has acquired 175600 shares at the rate 500 per Equity Shares off market increasing the holding to 95.36% in M/s Genesis Gas Solutions Private Limited on 1st April,2022 from 75% Holding. Earlier the company had purchased 30,000 Equity Shares which is 75 % of M/s Genesis Gas Solutions Private Limited on 15.02.2022, accordingly the entity is reported as subsidiary of M/s Vikas Lifecare Limited.

The Company has acquired 5,60,527 Shares in Shashi Beriwal And Co. Pvt Ltd at Rs 200 with a Face value of Rs 10 per share at a premium of Rs 190 per share on 1st October, 2022 which is 51.36% of total share captal as a result of which it has become subsidiary of M/s Vikas Lifecare Ltd

*Note: The company M/s Vikas Lifecare Limited was a partner in partnership firm M/s Ravi Crop Science since 11th october''2018 with terms & condition mentioned in the agreement, the said partnership was dissolved on 23rd November''2020 w.e.f. 30th June 2020. The capital balance as on dissolution date of the partnership firm was transferred to Loan account and out of which Rs. 498.32 lakhs was recoverd and the balance amount of Rs. 99.15 lakhs was written off as at 31st March''2023. The amount of Rs 282.15 Lakhs for March 31, 2023 includes the advance of Rs.70.77 Lakhs recoverable from Mr. Nikhil Gupta being excess payment of Capital advance against property bearing address House No. 79 Nagar Nigam No. 19/10A/79, Jaipur House Housing Society, Lohamandi Ward, Tehsil & District Agra (UP)-282010 and Rs. 211.38 Lakhs recoverable from Basant Projects Ltd. Basant Projects Ltd borrowed the sum of Rs 200 Lakhs at Interest rate of 8% p.a. vide agreement dated 21st February, 2023. The validity of this agreement shall be up to 31st March, 2024.

* Bank Deposits held as margin money with maturity of more than Twelve Months.

** This includes security deposit of office premises which Company has taken on lease for a period of 3 years from 23rd March,2023 to 22nd March, 2026 from Asha Deep. In complicance with the terms of Lease Agreement, the company has deposited a sum of Rs 6 Lakhs as Security Deposit. The amount of Security Deposit is discounted by Rs 0.96 Lakhs.

*** Rs 500 Lakhs includes Advance for Purchase of Shares of M/S Abhhyam Services Pvt Ltd held by Deep Sea Drilling Pvt Ltd and AVA Paisa Growth Pvt Ltd for purchase of total of 30% shareholding in the target. M/S Vikas Lifecare Ltd has entered into an agreement with Deep Sea Drilling Pvt Ltd and AVA Paisa Growth Pvt Ltd as on 7th October, 2022 for Purchase of 15000 each shares of Abhhyam Services Pvt Ltd. This agreement is valid upto 27th March, 2024.

*Capital Advances of Rs. 7,807.78 Lakhs includes the following advances made:

1 An amount of Rs. 3200.00 lakhs has been advanced to Fellow Consultancy Service Pvt Ltd in respect of purchase of agriculture land of 55 Bigha for expansion of agro division of company vide agreement dated 20th Sept''2021. The agreement is valid upto 20th March,2024.

2 An amount of Rs. 858.50 lakhs has been advanced to Rudraveerya Developers ltd in respect of purchsse of property to be used for business puposes, balance is subject to confirmation, reconciliation and consequential adjustments if any.

3 An amount of Rs. 1500.00 lakhs has been advanced to Priety Kurele in respect of Purchase of agriculture land 40 Bigha for expansion of agri division of company vide agreement dated 18th Auguest''2021 which is valid upto 18th Auguest''2024.

4 An amount of Rs. 1549.85 lakhs has been advanced to Ringlets Realtors Pvt Ltd in respect of Purchase of agriculture land divided into two plots measuring area of 3024 Sq. Yard & 4432 Sq Yard. vide agreement dated 8th Dec''2021 which is valid upto 8th Dec''2024

5. An amount of Rs. 699.43 lakhs has been advanced to Basant Projects ltd in respect of Purchase of corporate office in Central Delhi.

*The above figure comprises 3 property owned by the company with intention to held for sale-:

2. Shop No G-19-A Plot No 813/1 GT Road Shahdara New Delhi with market value of Rs. 90.00 Lakhs with a carrying value of Rs 87.25 Lakhs . Agreement has been executed between both the parties to sell the property for a consideration of Rs. 90.00 Lakhs against which company has received a sum of Rs. 90.00 Lakhs as advance, which is shown under note no. 24

3. House No. 79 Nagar Nigam No. 19/10A/79, Jaipur House Housing Society, Lohamandi Ward, Tehsil & District Agra (UP)-282010 with market value of Rs.351.00 Lakhs and a carrying value of Rs 241.44 Lakhs. Against which company has received a sum of Rs. 300.00 Lakh as advance. This property is mortgaged against working capital facility of Rs. 450 lakhs (including fund based Rs. 300 lakhs & non fund based Rs. 150 lakhs) availed by subsidiary company M/s Genesis Gas solutions private limited from union bank of india.

(iii) Terms / rights attached to Equity Shares A. Ordinary Shares of Re. 1/-

(a) In respect of every Ordinary Share (whether fully paid or partly paid), voting right and dividend shall be in the same proportion as the capital paid-up on such Ordinary Share bears to the total paid-up Ordinary Capital of the Company.

(b) The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. No dividend declare in the current year.

(c) In the event of liquidation, the shareholders of Ordinary Shares are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Over the period of five years immediately preceding March 31, 2022 and March 31, 2021, The company has issued 12,13,60,560 Shares @ 1 each as bonus shares during F.Y 2017-18. Further the company has allotted 238,733,535 Shares @ 1 each to the shareholders of M/s Vikas Ecotech Limited pursuant to Order of Delhi National Company Law Tribunal demerger order dated 31.10.2018 during the F.Y 2018-19. Further, no shares were bought back during the said period.

18A Qualified Instutional Placements:

During the financial year ending 31st March''2023, the company has completed 3 Qualified Instutional Placements (QIP) having issue size of Rs. 500 lakhs each:

- 1st QIP: The company has Issued 12,50,00,000 Shares in 1st QIP @ Rs. 4 per share (F.V of Rs.1 at premium of Rs.3). The shares were allotted on 2nd June''2022y & were listed on Bombay stock exchange & National Stock Exchange of India.

- 2nd QIP: The company has Issued 10,41,66,666 shares during 2nd QIP @ Rs 4.80 Per share(F.V of Rs.1 at premium of Rs.3.80). The shares were allotted on24th August''2022 & were listed on Bombay stock exchange & National Stock Exchange of India.

- 3rd QIP: The company has Issued 10,75,26,881 shares during 3rd QIP @ Rs 4.65 Per share(F.V of Rs.1 at premium of Rs.3.65). The shares were allotted on24th November''2022 & were listed on Bombay stock exchange & National Stock Exchange of India. All the issue proceeds are used for the objectives as mentioned in their respective letter of offer.

Right Issue:

During the financial year ending 31st March''2023, Company had called First & Final call of 2nd Right Issue (issue dated 15th Feb 2022) of Rs. 1,06,38,695.20/- consisting of 6258056 shares of Rs. 1.70(F.V of Rs.0.60 at premium of Rs.1.10). The company had received successful and valid call money of Rs. 14,29,200.20/- consisting 8,40,706 shares . The amount received during the year has been spent on objectives as stated in letter of offer except an amount of 11.99 lakhs lying in escrow accounts of the company which is still unspend as on year end.

Capital Reserve

The Company recognizes profit or loss on purchase, sale, issue or cancellation of the Company''s own equity instruments to capital reserve Securities Premium Reserve

Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount of the premium received on those shares shall be transferred to "Securities Premium Reserves.

Retained Earnings

Retained Earning are created from the profit / loss of the Company, as adjusted for distributions to owners, transfers to other reserves, etc.

Remeasurement of defined benefit Plan

Remeasurement of defined benefit Plan represents gain or losses arising on the actuarial valuation of defined benefit plans.

Equity Instruments through Other comprehensive Income

This reserve represent the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive income, net of amounts reclassified to retained earnings when those assets have been disposed off.

Secured loan from Banks

-Loan from Axis Bank of Rs. 5.00 Lakhs ( Previous year Rs. 16.67 Lakhs) Secured against hypothecation of car at the rate of interest 8.51% p.a. The loan is repayable in 36 equal monthly instalment of Rs. 1.05 Lakhs per month. The remaining maturity period is less than 12 Months from the end of the year.

- Loan from ICICI Bank of Rs. 41.51 Lakhs Secured against hypothecation of car at the rate of interest 8.00% p.a. The loan is repaid during the year on 13th June,2022

Loan from Union Bank of India of Rs. 12.82 Lakhs ( Previous Year Rs. 14.49 Lakhs) Secured against hypothecation of car at the rate of interest 7.30% p.a. sanction vide sanction letter dated 11th Aug''2021 payable in 84 Months commencing from 12th Sept''2021 via EMI of Rs.0.24 Lakhs per month. The remaining maturity period is 65 Months from Balance sheet Date.

Loan from Union Bank of India of Rs. 51.11 Lakhs ( Previous Year Rs 57.75 Lakhs) Secured against hypothecation of car at the rate of interest 7.25% p.a. sanction vide sanction letter dated 3rd Nov''2021 payable in 84 Months commencing from 2nd Dec''2021 via EMI of Rs.1.60 Lakhs per month. The remaining maturity period is 68 Months from Balance sheet Date.

Loan from Punjab & Sind Bank of Rs. 225 Lakhs ( Previous Year :Nil) Secured against hypothecation of car at the rate of interest 9.43% p.a. payable in 84 Months commencing from 30th Nov''2022 via EMI of Rs.3.67 Lakhs per month. The remaining maturity period is 79 Months from Balance sheet Date.

Loan from Punjab & Sind Bank of Rs. 672 Lakhs ( Previous Year :Nil) Secured against hypothecation of Property situated at House No. 64, Babar Road, Bengali Market, New Delhi-110001 at the rate of interest 8.05% p.a. payable in 120 Months commencing from 31st Oct''2022 via EMI of Rs.8.17 Lakhs per month. The remaining maturity period is 114 Months from Balance sheet Date. *lnter Corporate Loans

Loan of Rs. 104.37Lakhs ( Previous year 127.82Lakhs) from M/S Just Right Life Ltd (Earlier M/s Jasmine Ispat Pvt Ltd) is an unsecured loan, having interest rate 6% p.a., repayable on demand.

Default in repayment of dues

The Company has not defaulted in repayment of dues to financial institutions and banks during the year.

1. A sum of Rs. 50.00 Lakhs received as capital Advance from M/s Just Right Life Limited ( Formerly Known Stepping Stone Construction Pvt Ltd) against property situated at UnitNo.G-31,FirstFloor without Roof Right Plot No. M.P.I.Vikas Cinemall Indranagar, Tehsil-Dehradun, Distt-Dehradun, Uttarakhand.

2. A sum of Rs. 90.00 Lakhs received as capital Advance from M/s Vrindaa Advanced Materials Pvt Ltd against property situated at Shop No G-19-A Plot No 813/1 GT Road Shahdara New Delhi

3. A sum of Rs. 300.00 Lakhs received as capital Advance from Sneha Garg against property situated at House No. 79 Nagar Nigam No. 19/10A/79, Jaipur House Housing Society, Lohamandi Ward, Tehsil & District Agra (UP)-282010.

Secured loan from banks (Cash Credit & Term Loan)

*Secured from Bank includes cash credit ( under e-DFS) Limit Rs 451.83 Lakhs ( Previous Year Rs.388.36 Lakhs) from State Bank of India which is secured against hypothecation of stock and book receivables belonging of ONGC Petro Additions Limited. The loan is disbursed @ 14.75 % . The said loan is secured against collateral security of residential flat at Second Floor, A-25,G.T Road,Bharola wala Bagh,Near Indira Nagar,Delhi-110033. Further the personal guarantee of Mr. Vikas Garg and Mr. Vivek garg, Director of the company is being provided to the bank.

** Company has borrowed a sum of Rs 50.52 Lakhs from its subsidiary company at an Interest of 6% p.a. to meet the immediate business requirements of the company.

*Primarily inclusion of certain liabilities not forming part of creditors for goods.

48 Information on Segment Reporting pursuant to Ind AS 108 - Operating Segments Operating segments:

Real estate Division

Trading & Manufacturing Division -Agro Trading & Manufacturing Division -Polymers Trading Division -Infrastructure Identification of segments:

The chief operational decision maker monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit and loss of the segment and is measured consistently with profit or loss in these financial statements. Operating segments have been identified on the basis of the nature of products and Services.

Segment revenue and results

The expenses and income which are not directly attributable to any business segment are shown as unallocable expenditure (net of unallocable income).

Segment assets and liabilities:

Assets used by the operating segments mainly consist of trade receivables, advance to suppliers, inventories. Segment liabilities include trade payables, advance from customers. Common assets and liabilities which cannot be allocated to any of the segments are shown as a part of unallocable assets/liabilities.

The measurement principles of segments are consistent with those used in preparation of these financial statements. There are no inter-segment transfers.

5. Major Customers

(a) For the Year ending March 2023 Revenue from One Customers of the Segment Trading Infras. represented approximately Rs. 8379.04 Lacs of the total revenue.

(b) For the year ending 31st March 2022 Revenue from One Customer of the Segment Trading Infras. represented approximately Rs. 6237.42 Lakhs of the total revenue.

49 Fair value disclosures

i) Fair values hierarchy

All assets and liabilities for which fair value is measured or disclosed in the Standalone Financial Statements are categorised within the fair value hierarchy, described as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data rely as little as possible on entity specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

There have been no transfers between levels during the period.

Valuation process and technique used to determine fair value

(i) The management assessed that fair value of cash and cash equivalents, trade receivables, trade payables, bank overdrafts and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

(ii) The fair values of the equity investment which are quoted, are derived from quoted market prices in active markets. The Investments measured at fair value and falling under fair value hierarchy Level 3 are valued on the basis of valuation reports provided by external valuers with the exception of certain investments, where cost has been considered as an appropriate estimate of fair value because of a wide range of possible fair value measurements and cost represents the best estimate of fair values within that range.

(iii) The fair value of non-current borrowings carrying floating-rate of interest is not impacted due to interest rate changes, and will not be significantly different from their carrying amounts as there is no significant change in the under-lying credit risk of the Company (since the date of inception of the loans).

The management assessed that cash and cash equivalents, other bank balances, trade receivables, trade payables, short term borrowings and other current financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments. The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair value

All long term borrowing facilities availed by the Company are variable rate facilities which are subject to changes in underlying interest rate indices. Further, the credit spread on these facilities are subject to change with changes in Company''s creditworthiness. The management believes that the current rate of interest on these loans are in close approximation from market rates applicable to the Company. Therefore, the management estimates that the fair value of these borrowings are approximate to their respective carrying values.

A) Credit risk

- cash and cash equivalents,

- trade receivables,

- loans & receivables carried at amortised cost, and

- deposits with banks

- Investments

a) Credit risk management

(a) Low credit risk (b) Moderate credit risk (c) High credit risk

Financial instruments and cash deposits

Credit risk from balances/investments with banks and financial institutions is managed in accordance with the Company''s treasury risk management policy. Investments of surplus funds are made only with approved counterparties and within limits assigned to each counterparty. The limits are assigned based on corpus of investable surplus and corpus of the investment avenue. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments Trade receivables and other financial assets

The Company has established a credit policy under which each new customer is analysed individually for creditworthiness before the payment and delivery terms and conditions are offered. The Company''s review includes external ratings, if they are available, financial statements, credit agency information, industry information and business intelligence. Sale limits are established for each customer and reviewed annually. Any sales exceeding those limits require approval from the appropriate authority as per policy.

In monitoring customer credit risk, customers are grouped according to their credit characteristics, including whether they are an individual or a legal entity, whether they are a institutional, dealers or end-user customer, their geographic location, industry, trade history with the Company and existence of previous financial difficulties.

Expected credit loss for trade receivables:

The Company based on internal assessment which is driven by the historical experience/ current facts available in relation to default and delays in collection thereof, the credit risk for trade receivables is considered low. The Company estimates its allowance for trade receivable using lifetime expected credit loss.

Loan & Other financial assets measured at amortised cost includes security deposits, fixed deposits loan to related parties and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in place ensure the amounts are within defined limits.

B) Liquidity risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its present and future obligations associated with financial liabilities that are required to be settled by delivering cash or another financial asset. The Company''s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral obligations . The Company requires funds both for short term operational needs as well as for long term investment programs mainly in growth projects. The Company closely monitors its liquidity position and deploys a robust cash management system. It aims to minimise these risks by generating sufficient cash flows from its current operations, which in addition to the available cash and cash equivalents, liquid investments and sufficient committed fund facilities, will provide liquidity.

a) Maturities of financial liabilities

The tables below analyse the Company''s financial liabilities into relevant maturity. Company''s based on their contractual maturities for all non-derivative financial liabilities.

b) Foreign Currency Risk

Foreign exchange risk arises on future commercial transactions and on all recognised monetary assets and liabilities, which are denominated in a currency other than the functional currency of the Company. The Company''s management has set a policy wherein exposure is identified, a benchmark is set and monitored closely, and accordingly suitable hedges are undertaken. The policy also includes mandatory initial hedging requirements for exposure above a threshold.

c) Competition and Price Risk

The Company faces competition from competitors. Nevertheless, it believes that it has competitive advantage in terms of high quality products and by continuously upgrading its expertise and range of products to meet the needs of its customers.

d) Equity price risk management

51 Capital management

* Income Tax dispute for the A.Y. 2017-18 to Rs. 45.03 Lakhs is pending at CIT(A), Delhi

** The Company is contingently liabilities on export obligation dues pending on the imported goods against advance Authorisation *** Capital Commitment comprises of amounts to be paid to Ringlet Realtor pvt ltd in respect of property for which some portion of total purchase consideration is paid (Refer note No 10) and Rs. 1000 lakhs of an agreement with Deep Sea Drilling Pvt Ltd and AVA Paisa Growth Pvt Ltd as on 7th October, 2022 for Purchase of 15000 each shares of Abhhyam Services Pvt Ltd.(Refer note No 9).

- The Directorate of Enforcement, Delhi Zonal Office, New Delhi has issued a provisional attachment order ("Orderâ) bearing number 04/2020 and file number ECIR/10/DZ-1/2017 under Section 5(1) of the Prevention of Money Laundering Act, 2002 ("PMLAâ) against our Company, its then Director Mr. Vishal Garg and other third parties. Through the said attachment, bank account SBI Bank, Nariana Vihar, New Delhi maintained with has been attached for an amount of Rs. 6.20 Lakhs. The ED has realised a sum of Rs 6.20 Lakhs from the attached accounts during the year.

- There is demand of Rs 4.23 Lakhs for past outstanding TDS demand as per traces site as at 31.03.2023

- The Director General of Goods & Service Tax Intelligence Ghaziabad Unit has searched the premises of the company on 7th of April''2022 due to non existence of supplier of the company, the said case is under process till the date of reporting. Further the company have deposited Rs 200 Lakhs under protest to the treasury of Government.

- The company has not obtained registration of ESI & PF for Head office, so the amount has not been deposited which have been booked by the company during the year. Interest & penalty may arise on the same but cannot be determined as on the date of the financial statements.

Sub Notes:

1) Trade Receivables outstanding for more than 12 months was reported as current trade receivables which is reclassified to Non-current trade receivables during the year and accordingly re-classified in the previous year.

2) Loans outstanding for more than 12 months was reported as Current Financial Assets which is reclassified to Non- Current Financial assetrs during the year and accordingky re- classified in the previous year.

3) Other Current Financial Assets outstanding for more than 12 months is reclassified to Oher Non- Current Financial assets during the year and accordingky re- classified in the previous year. TDS Receivale is reclassified to Current Tax Liabilities (Net) during the year and accordingly re-classified in the previous year. Advance to Employees is reclassified to Other Current Assets during the year and accordingly re-classified in the previous year.

4) Other Current Financial Liabilities outstanding for more than 12 months is reclassified to Oher Non- Current Financial Liabilities during the year and accordingky re- classified in the previous year. Capital Advance received of Rs 10 Lakhs is reclassified to Other Current Liabilities as Advance From Customers during the year and accordingly re-classified in the previous year. Expenses Payable is reclassified From Other Current Liabilities to Other Current Financial Liablities during the year and accordingly re-classified in the previous year.

b. Details of investments made and guarantees & securities provided are as-:

- For details of investment, refer note 6.

-Securities Provided: Property at Land at Khasra No. 41/4 , Sultanpur Dabas ,Delhi-110084, land at Village Madanpur Dabas Kh No. 28/15 & Ganpati Dham Bhadurgarh, Haryana and property at Plot (Sector-2),Chaitanya Vihar, Vrindavan Mathura, UP & 102/ATN , A-9 Narela included in real Estate Division as inventory are hypothecated against Cash credit Limit of Rs.10,200.00 Lakhs availed by M/s Vikas Ecotech Limited under consortium finance by M/s Punjab National Bank, State Bank of India & Bank of Baroda.

- Loan from ICICI Bank of Rs. 41.51 Lakhs Secured against hypothecation of car at the rate of interest 8.00% p.a. The loan is repaid during the year on 13th June,2022

- Loan from Union Bank of India of Rs. 6.30 Lakhs ( Previous year Rs 10.28 Lakhs) Secured against hypothecation of car at the rate of interest 7.40% p.a.. vide sanction letter dated 11th August''2021 payable in 36 Months commencing from 29th August''2021 via EMI of Rs. 0.39 lakhs per month. The remaining maturity period is 16 Months from Balance sheet Date. Loan from Union Bank of India of Rs. 12.82 Lakhs ( Previous Year Rs. 14.49 Lakhs) Secured against hypothecation of car at the rate of interest 7.30% p.a. sanction vide sanction letter dated 11th Aug''2021 payable in 84 Months commencing from 12th Sept''2021 via EMI of Rs.0.24 Lakhs per month. The remaining maturity period is 65 Months from Balance sheet Date. Loan from Union Bank of India of Rs. 51.11 Lakhs ( Previous Year Rs 57.75 Lakhs) Secured against hypothecation of car at the rate of interest 7.25% p.a. sanction vide sanction letter dated 3rd Nov''2021 payable in 84 Months commencing from 2nd Dec''2021 via EMI of Rs.1.60 Lakhs per month. The remaining maturity period is 68 Months from Balance sheet Date. Loan from Punjab & Sind Bank of Rs. 225 Lakhs ( Previous Year :Nil) Secured against hypothecation of car at the rate of interest 9.43% p.a. payable in 84 Months commencing from 30th Nov''2022 via EMI of Rs.3.67 Lakhs per month. The remaining maturity period is 79 Months from Balance sheet Date.

*Secured from Bank includes cash credit ( under e-DFS) Limit Rs 451.83 Lakhs ( Previous Year Rs.388.36 Lakhs) from State Bank of India which is secured against hypothecation of stock and book receivables belonging of ONGC Petro Additions Limited. The loan is disbursed @ 14.75 % . The said loan is secured against collateral security of residential flat at Second Floor,A-25,G.T Road,Bharola wala Bagh,Near Indira Nagar,Delhi-110033. Further the personal guarantee of Mr. Vikas Garg and Mr. Vivek garg, Director of the company is being provided to the bank.

61 Other Statutory Information

a) The company does not have any "Benami Propertyâ, where any proceeding has been initiated pending against the company for holding any "Benami Propertyâ.

b) The company has advanced loan to its related party M/S Shashi Beriwal & Co. Pvt Ltd during the financial year.

c) The company has not been declared as a wilful defaulter by any lender who has the power to declare a Company as a wilful

defaulter at any time during the financial year or after the end of the reporting period but before the date when the financial statements are approved.

d) The company has utilized funds raised from the issue of securities or borrowings from banks & financial institutions for the specific purposes, for which they were issued/taken.

e) 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 intermediatory shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries

f) The company has not received any funds from any person(s) or entity(ies), including foreign entity(ies) (funding party) with

the understanding (whether recorded in writing or otherwise) that the company shall: -

i. 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

ii. Provide any guarantees, securities or the like or on behalf of the ultimate beneficiaries.

g) There are no transactions and/or balances outstanding with companies struck off under section 248 of the Companies Act''2013.

h) The company does not have any transaction which is not recorded in the books of accounts but has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act''1961.

i) The company has not traded or invested in cryptocurrency or virtual currency during the financial year.

j) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act''2013 read with Companies (Restriction on Number of Layers) Rules''2017.

k) The company does not have any charges or satisfaction of charges which is yet to be registered with the registrar of companies (ROC) beyond the satisfactory period except no charge has been created on hypothecation of vehicle against loan of Rs 12.50 Lakh from banks.

l) Details of monthly statement of current assets filed by the company with bank & their difference is as per Note No.24A

62 Approval of standalone financial statements

The standalone financial statements were approved for issue by the Board of Directors of the Company on 23rd May, 2023 subject to approval of shareholders.

Mar 31, 2018

1. Previous year figures have been regrouped/ rearranged wherever necessary.

2. Sundry Creditors, Sundry Debtors, Loans & Advances & Unsecured Loans are subject to confirmation and reconciliation by the respective parties.

3. In the opinion of the management, the current assets, loans and advances have a book value not less than those at which they are stated in the Balance Sheet, if realized in the normal course of business.

4. Small scale industrial undertakings to whom amounts are due been determined during the current financial year as the Company has not received from vendors regarding their status under the Micro Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

5. Cash in hand at the closing hours of 31st March 2018 as certified by the management.

6. Fixed assets have been certified by the Management and relied upon by the auditors, being a technical matter.

7. Auditorâs Remuneration for the year ended 31st March 2018

8. Disclosures as per Accounting Standard - 11 on âEffects of Changes in Foreign Exchange Ratesâ.

In Accordance with AS 11 and companies accounting policy, difference in monetary assets & Liabilities relating to foreign currencies transactions remaining unsettled at the year end are translated at the year end rates or subsequent realisation rate as the case may be & accordingly income for Rs.10,51,989.30/- has been recognized in the Profit a Loss A/C under head Exchange Fluctuation.

9. Disclosure as per Accounting Standard - 16 on âBorrowing Costâ.

During the year no borrowing cost has been capitalized to fixed assets.

10. Disclosure as per Accounting Standard - 18 on âRelated Party Disclosureâ

A. Relationship

i. Key Management Personnel:

- Mr. Vikas Garg

- Mr. Hari Bhagwan Sharma

- Mr. Pankaj Kumar Gupta

- Ms. Anubhuti Mishra

- Ms. Preeti Rai

ii. Significant influence by key management personnel

- Vikas Ecotech Limited

- Vikas Polymer India

- Seema Garg (Wife of Vikas Garg)

- Vivek Garg (Brother of Vikas Garg)

11. Computation of Net Profit in accordance with section 197,198 and 199 of schedule V of the Companies Act 2013 has not been given as no commission is payable to any of director or Managers of Company.

12. Disclosure as per Accounting Standard-22 âAccounting for Taxes on Incomeâ

On the basis of reasonable virtual certainty of future Income/Loss, deferred tax liabilities has been recognised for Rs.2,59,941. At the end date of year carrying amount of deferred tax asset stands at Rs.4,61.023/- The breakup is as follow.

11. The balance of custom duty Recoverable is subject to confirmation and reconciliation.

12. Closing stock at the closing hours of 31st March 2018 as certified by the management.

13. The Balance of Sundry Creditors and Sundry Debtors are subject to confirmation and reconciliation.

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