♦♦♦ Corporate Information

Ashram Online.Com Limited (CIN: L74999TN1991PLC020764), a public limited company
incorporated under the provisions of the Companies Act, 1956, has its Registered Office at Old
No.12, New No.29, Mookathal Street, Purasawalkkam, Chennai — 600 007. The Company is
primarily engaged in the business of trading and marketing Raksha Threads (sacred threads) and other
allied religious and devotional products through online and offline channels. The equity shares of the
Company are listed on the Bombay Stock Exchange Limited (BSE).

♦♦♦ Basis of Preparation of Financial Statements:

1. The financial statements have been prepared in accordance with the Indian Accounting
Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 read with the
Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time, and other
relevant provisions of the Companies Act, 2013. The financial statements have been prepared on
the historical cost basis except for certain financial instruments, which are measured at fair value in
accordance with the applicable Indian Accounting Standards.

2. Use of Estimates:

The preparation of the financial statements in conformity with Indian Accounting Standards (Ind
AS) requires management to make judgements, estimates and assumptions that affect the reported
amounts of assets and liabilities, the disclosure of contingent liabilities as at the reporting date, and
the reported amounts of income and expenses during the reporting period. Actual results may differ
from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognized prospectively in the period in which the estimates
are revised and in any future periods affected.

3. Going Concern

The financial statements have been prepared on a going-concern basis, as the Management believes
that the Company has adequate resources to continue its operations for the foreseeable future and
that no material uncertainty exists that may cast significant doubt on the Company''s ability to
continue as a going concern.

4. Operating Cycle

The Company has considered its normal operating cycle as twelve months for the purpose of
classification of assets and liabilities into current and non-current in accordance with the
requirements of Schedule III to the Companies Act, 2013.

♦♦♦ Revenue Recognition

1. Sales of goods:

Revenue from the sale of goods is recognized upon delivery of goods to the customer in accordance
with the terms of the respective sales arrangements.

2. Interest income:

Interest in income on financial assets measured at amortized cost is recognized using the Effective

Interest Rate (EIR) method over the expected life of the financial asset.

3. Other Income:

Other income is recognized on an accrual basis.

♦♦♦ Valuation of Inventory

Inventories are valued at a lower cost and net realizable value. The cost of inventories is determined

using the weighted average cost method. Cost comprises the cost of purchase and other costs

incurred in bringing the inventories to their present location and condition.

♦♦♦ Property, Plant and Equipment, Depreciation & Impairment

1. Property, plant and equipment are stated at cost (net of tax/duty credits availed), excluding
the costs of day-to-day servicing, less accumulated depreciation and accumulated impairment
losses, if any. Cost includes professional fees, charges and other expenses directly attributable
to the acquisition of property, plant and equipment. Changes in the estimated useful life of an
asset are accounted for prospectively by revising the depreciation period or method, as
appropriate, and are treated as changes in accounting estimates.

2. Capital Work-in-Progress comprises expenditure incurred on Property, Plant and Equipment
that are not yet ready for their intended use. Such expenditure is transferred to the appropriate
category of Property, Plant and Equipment upon completion and when the asset is ready for
its intended use.

3. Subsequent expenditure relating to Property, Plant and Equipment is capitalized only when it
is probable that future economic benefits associated with the expenditure will flow to the
Company and the cost of the item can be measured reliably. All other repairs and maintenance
expenses are recognized in the Statement of Profit and Loss as incurred.

4. Depreciation on Property, Plant and Equipment is provided on the Written Down Value
(WDV) method over the useful lives prescribed under Schedule II to the Companies Act,
2013.

5. The residual values, useful lives and the method of depreciation are reviewed at the end of
each reporting period and adjusted prospectively, wherever considered necessary.

6. An item of Property, Plant and Equipment is derecognized upon disposal or when no future
economic benefits are expected from its continued use or disposal. Any gain or loss arising on
derecognition is recognized in the Statement of Profit and Loss in the period in which the asset
is derecognized

7. The Company assesses at each reporting date whether there is any indication that an asset may
be impaired. If any such indication exists, the recoverable amount of the asset is estimated and
impairment losses, if any, are recognized in accordance with Ind AS 36 — Impairment of Assets.
Impairment losses are reversed in subsequent periods if there is an indication that the
impairment no longer exists or has decreased, to the extent permitted under Ind AS 36.

♦♦♦ Financial Instruments — Initial Recognition
Date of recognition

Financial assets and financial liabilities are recognized when the Company becomes a party to the
contractual provisions of the financial instrument. Financial assets and financial liabilities are initially
measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of
financial assets and financial liabilities, other than those classified at fair value through profit or loss,
are added to or deducted from the fair value on initial recognition, as appropriate.

Initial measurement of financial instruments

The classification of financial instruments at initial recognition depends on their contractual terms
and the Company''s business model for managing the financial instruments. Financial assets and
financial liabilities are initially measured at their fair value, except for financial assets and financial
liabilities measured at Fair Value Through Profit or Loss (FVTPL).

Transaction costs that are directly attributable to the acquisition or issue of financial assets or
financial liabilities are recognised immediately in the Statement of Profit and Loss for instruments
classified as FVTPL. For all other financial assets and financial liabilities, such transaction costs are
added to or deducted from the fair value on initial recognition, as appropriate.

Measurement categories of financial assets and liabilities

The Company classifies its financial assets and financial liabilities based on the business model for
managing the financial assets and the contractual cash flow characteristics of the financial assets.
Financial assets and financial liabilities are subsequently measured at one of the following categories:
♦♦♦ Amortised Cost

♦♦♦ Fair Value Through Profit or Loss (FVTPL)

♦♦♦ Fair Value Through Other Comprehensive Income (FVTOCI)

Equity instruments

Equity instruments are initially measured at fair value. The Company subsequently measures all
equity investments at Fair Value Through Profit or Loss (FVTPL), unless the Company has
irrevocably elected to classify certain equity investments as Fair Value Through Other
Comprehensive Income (FVTOCI), provided such investments meet the definition of equity under
Ind AS 32 — Financial Instruments: Presentation and are not held for trading. Such election is made on
an instrument-by-instrument basis. Gains and losses on equity instruments designated at FVTOCI
are not reclassified to the Statement of Profit and Loss. Dividends are recognized in the Statement
of Profit and Loss when the Company''s right to receive payment is established, unless the dividend
clearly represents a recovery of part of the cost of the investment. Equity instruments designated at
FVTOCI are not subject to impairment assessment.

Reclassification of financial assets and liabilities

The Company reclassifies financial assets only when there is a change in its business model for
managing those financial assets. Such reclassifications are expected to be infrequent. Financial
liabilities are not reclassified after initial recognition.

♦♦♦ Retirement Benefits

Contributions towards Provident Fund, Gratuity and Leave Encashment benefits, wherever
applicable, are accounted for on the basis of actual liability incurred. During the year under review,
the Company''s employee strength was below the statutory thresholds prescribed under the
Employees'' Provident Funds and Miscellaneous Provisions Act, 1952, the Employees'' State Insurance
Act, 1948, and the Payment of Gratuity Act, 1972. Accordingly, the provisions relating to Provident
Fund, ESI, Gratuity and Leave Encashment were not applicable to the Company, and no provision
has been recognised in the financial statements.

♦♦♦ Foreign Currency Transaction

The Company''s financial statements are presented in Indian Rupees (INR), which is also the
Company''s functional currency.

Transactions denominated in foreign currencies are initially recorded at the functional currency spot
exchange rate prevailing at the date when the transaction first qualifies for recognition.

Foreign currency denominated monetary assets and liabilities are translated into the functional
currency using the spot exchange rates prevailing at the reporting date. Exchange differences arising
on settlement or translation of monetary items are recognised in the Statement of Profit and Loss.

During the year under review, the Company had no reportable foreign currency transactions.

♦♦♦ Tax On Income
Current Tax

Current tax comprises the amount of tax payable in respect of taxable income or loss for the year,
determined in accordance with the provisions of the Income-tax Act, 1961, and any adjustment to
tax payable or receivable in respect of previous years.

Current tax assets and liabilities for the current and prior years are measured at the amount expected
to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the

amount are those that are enacted or substantively enacted as at the reporting date in the countries
where the Company operates and generates taxable income.

Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the
recognised amounts and when the Company intends either to realise the assets and settle the liabilities
on a net basis or simultaneously.

Current income tax relating to items recognised outside profit or loss is recognised outside profit or
loss (either in Other Comprehensive Income or in equity). Current tax items are recognised in
correlation with the underlying transaction either in OCI or directly in equity.

Management periodically evaluates positions taken in the tax returns with respect to situations in
which applicable tax regulations are subject to interpretation and establishes provisions, where
appropriate.

Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of
assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are
recognised to the extent that it is probable that taxable profits will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses
can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date 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 deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each
reporting date and are recognised to the extent that it has become probable that future taxable profits
will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year
when the asset is realised or the liability is settled, based on tax rates and tax laws that have been
enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised
outside profit or loss is recognised outside profit or loss (either in Other Comprehensive Income or
in equity). Deferred tax items are recognised in correlation with the underlying transaction either in
OCI or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off
current tax assets against current tax liabilities, and the deferred taxes relate to the same taxable
entity and the same taxation authority. The Company intends to settle such balances on a net basis.

Income-tax Status

The Company computes income tax in accordance with the provisions of the Income-tax Act, 1961.
Management has reviewed the applicable provisions relating to the tax regime adopted by the
Company and the tax expense has been recognised accordingly.

♦♦♦ Dividend

The Board of Directors has not recommended any dividend for the financial year ended 31 March
2026.

♦♦♦ Earnings Per Share (EPS)

Basic earnings per share (EPS) is calculated by dividing the profit or loss attributable to equity
shareholders of the Company by the weighted average number of equity shares outstanding during
the reporting period. The earnings considered in ascertaining the basic EPS comprise the net profit
or loss for the period attributable to equity shareholders after deducting preference dividends, if
any, and related tax effects.

The weighted average number of equity shares outstanding during the period and for all
comparative periods presented is adjusted for events such as bonus issues, share splits and other
changes in the number of equity shares, other than the conversion of potential equity shares, without
a corresponding change in resources.

Diluted earnings per share is calculated by adjusting the profit or loss attributable to equity
shareholders and the weighted average number of equity shares outstanding during the period for
the effects of all dilutive potential equity shares.

CORPORATE INFORMATION

M/s. ASHRAM ONLINE.COM LIMITED, was incorporated in India, and is engaged in the business of online
and offline trading etc., the Company is listed at Bombay Stock Exchange Ltd (BSE).

♦♦♦ Basis Of Preparation of Financial Statements

1. The financial statements have been prepared in accordance with the Indian Accounting Standards (IND AS)
(as notified under the Companies (Indian Accounting Standards) Rules, 2015) prescribed under Section 133
of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

2. Use of Estimates: - The preparation of the financial statements in conformity with IND-AS requiring to
make estimates and assumptions considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the year.

♦♦♦ Revenue Recognition

1. Sales of goods: - Sales have been recognized in the books on the basis of invoice value (gross) and considered
only on delivery basis of goods.

2. Interest Income is recognized on the date which they have become due or upon receipt, whichever is earlier.
The Interest income is recognized on gross basis.

3. In respect of other incomes, accrual system of accounting is followed.

♦♦♦ Property, Plant and Equipment, Depreciation & Impairment

1. Property plant and equipment is stated at cost (net of tax/ duty credits availed) excluding the costs of
day—to—day servicing, less accumulated depreciation and accumulated impairment in value. Cost
includes professional fees/ charges related to acquisition of property plant and equipment. Changes in
the expected useful life are accounted for by changing the amortization period or methodology as
appropriate and treated as changes in accounting estimates.

2. Subsequent expenditure incurred is capitalized only if it results in economic useful life beyond the
original estimate.

3. Depreciation is provided on Property, Plant and Equipment on written down value method as per the
rates specified in part C of schedule II of Companies Act, 2013.

4. Assets individually costing less than or equal to Rs.5,000 are fully depreciated in the year of acquisition.
♦♦♦ Valuation Of Inventory

Finished goods are stated at “ cost or net realizable value whichever is lower”. Cost formula used is weighted
average cost. Due allowance is estimated and made for defective and obsolete items, wherever necessary, based
on the past experience of the group. Cost comprises of all cost of purchase, cost of conversion and other costs
incurred in bringing the inventories to their present location and condition.

♦♦♦ Financial Instruments — Initial Recognition
Date of recognition

Financial assets and liabilities, with the exception of loans, debt securities, and borrowings are initially
recognized on the trade date, i.e., the date that the Company becomes a party to the contractual provisions of
the instrument. Loans are recognized when fund transfers are initiated to the customers'' account or cheques
for disbursement have been prepared by the Company (as per the terms of the agreement with the borrowers)
or when the Company assumes unconditional obligations to release the disbursement amount to third party on

the direction of the borrower, whichever is earlier. The Company recognizes debt securities and borrowings
when funds reach the Company.

Initial measurement of financial instruments

The classification of financial instruments at initial recognition depends on their contractual terms and the
business model for managing the instruments. Financial instruments are initially measured at their fair value,
except in the case of financial assets and financial liabilities recorded at FVTPL (Fair value through profit and
loss).

Transaction costs/fees which are directly attributable to acquisition of financial assets or financial liabilities are
recognized immediately in statement of profit and loss in case of instruments measured at FVTPL and or, are
added to, or subtracted from, this amount for other categories.

Measurement categories of financial assets and liabilities

The Company classifies all its financial assets and financial liabilities based on the business model for managing
the assets and the asset''s contractual terms, measured at either:

• Amortized cost
•FVTPL

• FVTOCI

Equity instruments

Investment in Subsidiaries and Joint Ventures are carried at Cost in the Separate Financial Statements as
permitted under Ind AS 27. The Company subsequently measures all equity investments other than investment
in subsidiaries and associates, at fair value through profit or loss, unless the Company''s management has elected
to classify irrevocably some of its equity investments as equity instruments at FVOCI, when such instruments
meet the definition of Equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading.
Such classification is determined on an instrument-by-instrument basis. Gains and losses on these equity
instruments are never recycled to profit or loss. Dividends are recognized in profit or loss as dividend income
when the right of the payment has been established, except when the Company benefits from such proceeds as
a recovery of part of the cost of the instrument, in which case, such gains are recorded in OCI (Other
Comprehensive Income). Equity instruments at FVOCI are not subject to an impairment assessment.

Reclassification of financial assets and liabilities

The Company does not reclassify its financial assets subsequent to their initial recognition, apart from the
exceptional circumstances in which the Company acquires, disposes of, or terminates a business line. Financial
liabilities are never reclassified.

? RETIREMENT BENEFITS

Contribution of Provident funds, Gratuity and Leave encashment benefits wherever applicable is being
accounted on actual liability basis. However, there were no employees in the eligible category to avail such
benefits.

? FOREIGN CURRENCY TRANSACTION

The Company''s financial statements are presented in Indian Rupees (INR) which is also the Company''s
functional currency. Transactions in foreign currencies are initially recorded by the Company at their
respective functional currency spot rates at the date the transaction first qualifies for recognition.

Foreign currency denominated monetary assets and liabilities are translated at the functional currency spot
rates of exchange at the reporting date and exchange gains and losses arising on settlement and restatement
are recognized in the statement of profit and loss.

There are no reportable Foreign Currency transactions during the year.

? TAX ON INCOME
Current Tax

Current tax comprises amount of tax payable in respect to the taxable income or loss for the year determined
in accordance with Income Tax Act, 1961 and any adjustment to tax payable or receivable in respect of prior
years.

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be
recovered from, or paid to, the taxation authorities. The tax rates and tax laws used to compute the amount
are those that are enacted, or substantively enacted, by the reporting date in the countries where the Company
operates and generates taxable income.

Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognized
amounts and is intended to realize the asset and settle the liability on a net basis or simultaneously.

Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss
(either in other comprehensive income or in equity). Current tax items are recognized in correlation to the
underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken
in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation
and establishes provisions where appropriate.

Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purposes.

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

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that
it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax
asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized
to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be
recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date. Deferred tax relating to items recognized outside profit or loss is
recognized outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are
recognized in correlation to the underlying transaction either in OCI or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current
tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same
taxation authority and intends to settle on net basis.

? EARNINGS PER SHARE (EPS)

Basic Earnings per Share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Earnings
considered for Earnings per share is the net profit for the period after deducting preference dividend, if any,
and attributable tax thereto for the period.

The weighted average number of equity shares outstanding during the period and for all periods presented is
adjusted for events, such as bonus shares, other than the conversion of potential equity shares that have changed
the number of equity shares outstanding, without a corresponding change in resources. For the purpose of
calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders
and the weighted average number of shares outstanding during the period is adjusted for the effects of all
dilutive potential equity shares.

CORPORATE INFORMATION

M/s. ASHRAM ONLINE.COM LIMITED, was incorporated in India, and is engaged in the
business of online and offline trading etc., the Company is listed at Bombay Stock Exchange Ltd
(BSE).

♦♦♦ Basis Of Preparation Of Financial Statements

1. The financial statements have been prepared in accordance with the Indian Accounting
Standards (IND AS) (as notified under the Companies (Indian Accounting Standards) Rules,
2015) prescribed under Section 133 of the Companies Act, 2013 and other recognized
accounting practices and policies to the extent applicable.

2. Use of Estimates: - The preparation of the financial statements in conformity with IND-AS
requiring to make estimates and assumptions considered in the reported amounts of assets
and liabilities (including contingent liabilities) and the reported income and expenses during
the year.

♦♦♦ Revenue Recognition

1. Sale of goods: - Sales have been recognized in the books on the basis of invoice value (gross)
and considered only on delivery basis of goods.

2. Interest Income is recognized on the date which they have become due or upon receipt
whichever is earlier. The Interest income is recognized on gross basis.

3. In respect of other incomes, accrual system of accounting is followed.

♦♦♦ Property, Plant And Equipment, Depreciation & Impairment

1. Property plant and equipment is stated at cost (net of tax/ duty credits availed) excluding
the costs of day—to—day servicing, less accumulated depreciation and accumulated
impairment in value. Cost includes professional fees/ charges related to acquisition of
property plant and equipment. Changes in the expected useful life are accounted for by
changing the amortization period or methodology, as appropriate, and treated as changes
in accounting estimates.

2. Subsequent expenditure incurred, is capitalized only if it results in economic useful life
beyond the original estimate.

3. Depreciation is provided on Property, Plant and Equipment on written down value
method as per the rates specified in part C of schedule II of Companies Act, 2013.

4. Assets individually costing less than or equal to Rs.5,000 are fully depreciated in the year
of acquisition.

♦♦♦ Valuation of Inventory

Finished goods are stated at “cost or net realizable value whichever is lower”. Cost formula
used is weighted average cost. Due allowance is estimated and made for defective and obsolete
items, wherever necessary, based on the past experience of the group. Cost comprises of all
cost of purchase, cost of conversion and other cost incurred in bringing the inventories to their
present location and condition.

♦♦♦Financial Instruments — Initial Recognition
Date of recognition

Financial assets and liabilities, with the exception of loans, debt securities, and borrowings are
initially recognized on the trade date, i.e., the date that the Company becomes a party to the
contractual provisions of the instrument. Loans are recognized when fund transfers are initiated
to the customers’ account or cheques for disbursement have been prepared by the Company (as
per the terms of the agreement with the borrowers) or when the Company assumes
unconditional obligations to release the disbursement amount to third party on the direction of
the borrower, whichever is earlier. The Company recognizes debt securities and borrowings
when funds reach the Company.

Initial measurement of financial instruments

The classification of financial instruments at initial recognition depends on their contractual
terms and the business model for managing the instruments. Financial instruments are initially
measured at their fair value, except in the case of financial assets and financial liabilities
recorded at FVTPL (Fair value through profit and loss).

Transaction costs/fees which are directly attributable to acquisition of financial assets or
financial liabilities are recognized immediately in statement of profit and loss in case of
instruments measured at FVTPL and or, are added to, or subtracted from, this amount for
other categories.

Measurement categories of financial assets and liabilities

The Company classifies all of its financial assets and financial liabilities based on the business
model for managing the assets and the asset’s contractual terms, measured at either:

• Amortized cost
•FVTPL

• FVTOCI

Equity instruments

Investment in Subsidiaries and Joint Ventures are carried at Cost in the Separate Financial
Statements as permitted under Ind AS 27. The Company subsequently measures all equity
investments other than investment in subsidiaries and associates, at fair value through profit or
loss, unless the Company’s management has elected to classify irrevocably some of its equity
investments as equity instruments at FVOCI, when such instruments meet the definition of
Equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. Such
classification is determined on an instrument-by-instrument basis. Gains and losses on these
equity instruments are never recycled to profit or loss. Dividends are recognized in profit or
loss as dividend income when the right of the payment has been established, except when the
Company benefits from such proceeds as a recovery of part of the cost of the instrument, in
which case, such gains are recorded in OCI (Other Comprehensive Income). Equity
instruments at FVOCI are not subject to an impairment assessment.

Reclassification of financial assets and liabilities

The Company does not reclassify its financial assets subsequent to their initial recognition,
apart from the exceptional circumstances in which the Company acquires, disposes of, or
terminates a business line. Financial liabilities are never reclassified.

? RETIREMENT BENEFITS

Contribution of Provident fund, Gratuity and Leave encashment benefits wherever applicable
is being accounted on actual liability basis. However there were no employees in the eligible
category to avail such benefits.

? FOREIGN CURRENCY TRANSACTION

The Company’s financial statements are presented in Indian Rupees (INR) which is also the
Company’s functional currency.

Transactions in foreign currencies are initially recorded by the Company at their respective
functional currency spot rates at the date the transaction first qualifies for recognition.

Foreign currency denominated monetary assets and liabilities are translated at the functional
currency spot rates of exchange at the reporting date and exchange gains and losses arising on
settlement and restatement are recognized in the statement of profit and loss.

There are no reportable Foreign Currency transactions during the year.

? TAX ON INCOME
Current Tax

Current tax comprises amount of tax payable in respect to the taxable income or loss for the
year determined in accordance with Income Tax Act, 1961 and any adjustment to tax payable
or receivable in respect of prior years.

Current tax assets and liabilities for the current and prior years are measured at the amount
expected to be recovered from, or paid to, the taxation authorities. The tax rates and tax laws
used to compute the amount are those that are enacted, or substantively enacted, by the
reporting date in the countries where the Company operates and generates taxable income.

Current tax assets and liabilities are offset only if there is a legally enforceable right to set off
the recognized amounts and is intended to realize the asset and settle the liability on a net basis
or simultaneously.

Current income tax relating to items recognized outside profit or loss is recognized outside
profit or loss (either in other comprehensive income or in equity). Current tax items are
recognized in correlation to the underlying transaction either in OCI or directly in equity.
Management periodically evaluates positions taken in the tax returns with respect to situations
in which applicable tax regulations are subject to interpretation and establishes provisions
where appropriate.

Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases
of assets and liabilities and their carrying amounts for financial reporting purposes.

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

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable profit will be available to allow
all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re¬
assessed at each reporting date and are recognized to the extent that it has become probable
that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in
the year when the asset is realized or the liability is settled, based on tax rates (and tax laws)
that have been enacted or substantively enacted at the reporting date. Deferred tax relating to
items recognized outside profit or loss is recognized outside profit or loss (either in other
comprehensive income or in equity). Deferred tax items are recognized in correlation to the
underlying transaction either in OCI or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to
set off current tax assets against current tax liabilities and the deferred taxes relate to the same
taxable entity and the same taxation authority and intends to settle on net basis.

? EARNINGS PER SHARE (EPS)

Basic Earnings per Share is calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period. Earnings considered for Earnings per share is the net profit for
the period after deducting preference dividend, if any, and attributable tax thereto for the
period.

The weighted average number of equity shares outstanding during the period and for all
periods presented is adjusted for events, such as bonus shares, other than the conversion of
potential equity shares that have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity shareholders and the weighted
average number of shares outstanding during the period is adjusted for the effects of all
dilutive potential equity shares.

A. BASIS OF PREPATION OF FINANCIAL STATEMENTS

1. The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956.

2. Method of Accounting - The Company maintains its accounts on accrual basis

3. The Accounting Standards recommended by The Institute of Chartered Accountants of India have been followed wherever applicable to the Company.

B. FIXEDASSETS, DEPRECIATION & IMPAIRMENT

1. The Fixed Assets are stated at cost of their acquisition less depreciation.

2. Depreciation provided on fixed assets , on written down value method, as per the rates specified Scheduled XIV of the Companies Act 1956.

C. VALUATION OF CLOSING STOCK

There are no closing stock of inventories at the end of the year. Hence the valuation of the same at the end of the year is not called for.

D . PRE OPERATIVE / MISCELLANEOUS EXPENSES

Pre- operating Expenses and related expenses incurred for the project are written off over a period of five years commence from the year and has been disclosed under Non - current assets.

E. INVESTMENTS

Investments are classified as long- term and current investments . Long - term investments are shown at cost, or written down value ( in case of other than temporary diminution ) and there are no current investments in the company .

F IMPAIRMENT OF ASSETS

As required AS-28 issued the institute of Chartered Accountants of India, Provision for impairment loss of assets is not required to be made as the estimated realizable value of such assets will be more equal to the carrying amount stated in the Balance Sheet.

G. RETIRMENT BENEFITS

Contribution of Provident fund, Gratuity and leave encashment benefits wherever applicable is being accounted on actual liability basis as currently the company does not fall within the purview of the respective acts and not contributions were required to be made either by company or any its employee''s.

H. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income Computed in accordance with the provisions of the Income Tax Act 1961.

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI)

I. EARNING PER SHARE

The earning considered in ascertaining the Company''s earning per share is net profit after tax. The earning per share for the year is Rs -0.12 as compared to the previous year of Rs -0.15 the EPS reported is basic and diluted.

J. SEGMENTAL REPORTING

The Company is engaged primarily in the one segment, accordingly there are no separate reportable segments as per the accounting standard 17 (Segmental Reporting) issue by the Institute of Chartered Accountants of India.

K. RELATED PARTY DISCLOSURES

The Company had no transactions with the related parties during the year under review other than temporary current account transactions

L. DUES TO SME''S

Management has determined that there were no balances outstanding as at the beginning of the year and no transactions entered with micro, small and medium enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006, during the current year, based on the information available with the company as at March 31, 2012.

M. GENERAL

a. The Figures for the previous year figures have been regrouped / reclassified where ever necessary with the conformity with current year figures for facilitating proper comparisons.

b. The figures have been rounded off to the nearest rupee.

Brief description of the Company and its Business

ASHRAM ONLINE.COM LIMITED was incorporated in India, and is engaged in the Business of building high class Infrastructure for promoting health, sports, tourism and providing wide range of infrastructure facilities for the corporate and business organisations

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared to comply in all material respects With the standards notified under the Companies (Accounting Standard)) Rules.2006 and the relevant provisions of the Companies Act,1956 The financial Statements have been prepared under the historical cost convention on an accrual basis The accounting policies have been consistently applied by the company and except for the changes in accounting policy discussed ore fully blow if any, are consistent with those used in previous year

REVENUE RECOGNITION

Incomes have been recorded on the basis of accrual system of accounting.

B. USE OF ESTIMATES

The preparation of financial statement sin conformity with the Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, disclosures relating to contingent liabilities and assets as at the balance sheet date and the reported amounts of income and expenses during the year Difference between the actual amounts and the estimates are recognized in the year in which the events become known / are materialize..

C. FIXED ASSETS AND DEPRECIATION

1. The Fixed Assets are stated at cost of their acquisition less depreciation.

2. Depreciation is provided on fixed assets, on written down value method, as per the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on fixed assets added / disposed off/discarded during the year has been provided on pro-rata basis with reference to the date of addition/discarding.

D. VALUATION OF CLOSING STOCK

There are no Closing Stock of Inventories at the end of the year, hence the valuation of the same at the end of the year is not called for

E PREOPERATING EXPENSES

Pre-Operating Expenses and related expenses incurred for the project are written off over a period of ten years commencing from current year

F.INVESTMENTS

Investments are classified as long-term and current investments Long-term investments are shown at cost, or written down value (in case of other than temporary diminuiion) and there are no Current Investments in the company. The market value of the long term investments is not readily available and under given case the book value per share (NAV basis) has been determined on the basis of available latest financial statements of the respective company and the same has been treated as market value.

G RETIREMENT BENEFITS

Contribution of Provident fund, Graluity and Leave encashment benefits wherever applicable is being accounted on actual liability basis as and when arises However the above referred provisions are not applicable to the company as it does not have employess who have served minimum period to become eligible for retirement benefits.

H. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income computed in accordance with the provisions of the Income Tax Act 1961

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI)

LEARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Companys earrngs per share is net profit after tax. The earmgs per share for the year is Rs -0.107 as compared to the previous year of Rs -0151 The EPS reported is basic and diluted.