అకౌంట్స్ గమనికలుBMW Ventures Ltd.

3.16 Provisions, Contingent Liabilities And Contingent Assets
(a) Provisions:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources
embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

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

Reimbursements (e.g., under insurance) are recognised as a separate asset only when virtually certain. The expense relating to a provision is presented in the Statement
of Profit and Loss net of any reimbursement.

(c) Contingent Liabilities and Contingent Assets

Contingent liabilities are disclosed in the notes where there is a possible obligation arising from past events whose existence will be confirmed only by uncertain future
events not wholly within the Company''s control, or a present obligation that is not recognised because outflow is not probable or the amount cannot be measured with
sufficient reliability.

Contingent assets are not recognised but are disclosed where the inflow of economic benefits is probable. When realisation becomes virtually certain, the asset is
recognised.

3.17 Earnings per share

Basic earnings per share is computed by dividing the net profit attributable to equity shareholders by the weighted average number of equity shares outstanding during
the year.

Diluted earnings per share is computed by dividing the net profit attributable to equity shareholders (as adjusted for the effects of all dilutive potential equity shares) by
the weighted average number of equity shares and dilutive potential equity shares outstanding during the year.

The weighted average number of equity shares is adjusted retrospectively for events such as bonus issues, share splits and consolidations of shares that have changed
the number of equity shares outstanding without a corresponding change in resources. EPS figures for prior periods presented are adjusted accordingly.

3.18 Corporate Social Responsibility (CSR) Expenditure

Expenditure incurred on CSR activities under Section 135 of the Companies Act, 2013 and the Companies (CSR Policy) Rules, 2014 is recognised in the Statement of
Profit and Loss in the period in which the related activities are carried out.

Where the amount required to be spent in a financial year is not spent in full, the shortfall (other than amounts relating to ongoing projects, dealt with as per the Rules)
is transferred to a Schedule VII fund within six months of the financial year-end. Where the amount spent is in excess, the excess may be set off against the CSR
obligation in succeeding financial years in the manner permitted by the Rules. CSR expenditure (including any shortfall or excess) is disclosed separately in the notes.

3.19 Dividend Distribution

Final dividends recommended by the Board are recognised as a liability in the period in which they are approved by the shareholders in the Annual General Meeting.
Interim dividends are recognised as a liability in the period in which they are declared by the Board.

Dividends declared after the reporting date but before the financial statements are authorised for issue are not recognised as a liability, in accordance with Ind AS 10,
and are disclosed in the notes.

3.20 Operating Segment

which is responsible for allocating resources to and assessing the performance of the operating segments, has been identified as the CODM.

Based on the nature of products and services, production processes, customer profile and the internal reporting structure, the Company''s operating segments comprise:
Steel Distribution (distribution/trading of long and flat steel products including TMT bars, HR/GP sheets, wire rods, hollow sections, colour-coated sheets, doors and PVC
pipes); PVC Pipe Manufacturing; Pre-Engineered Buildings; Railway Girder Fabrication; Tractor Engines and Spares; and Other Activities (construction-equipment trading
and hire, and job work/processing services). Steel Distribution is the Company''s only reportable segment. None of the other operating segments individually meets any
of the quantitative thresholds prescribed in Ind AS 108, and in aggregate they contribute less than 2.38% of the Company''s revenue, results and assets; the reportable
segment contributes more than 75% of the Company''s revenue. Accordingly, no separate segment tables are presented (Refer Note (48(i)).

Segment performance is evaluated by the CODM on the basis of profit before tax as per the internal management reports. Finance costs, income from investments
(including fair-value changes and rental income from investment property), income taxes, and corporate assets and liabilities that are not directly attributable to
segments are treated as unallocated. Inter-segment transfers, where they occur, are measured at arm''s-length prices. The Company operates in a single geographical
area, India.

3.21 Statement of Cash Flows

The Statement of Cash Flows is prepared in accordance with the indirect method under Ind AS 7, whereby profit / (loss) for the period is adjusted for non-cash
transactions, deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with investing or financing
activities. Cash flows from operating, investing and financing activities are segregated.

3.22 Government Grants and Incentives

Government grants (including state industrial-policy incentives, capital subsidies, GST-linked incentives, freight subsidies, and export-related incentives, where
applicable) are recognised at fair value when there is a reasonable assurance that (a) the grant will be received and (b) the Company will comply with the conditions
attached.

Grants related to income are recognised in the Statement of Profit and Loss on a systematic basis over the periods in which the Company recognises the related costs as
expenses. Such grants are presented either as a credit in the Statement of Profit and Loss (separately or under Other Income) or as a deduction in reporting the related

expense.

Grants related to assets are presented in the Balance Sheet by setting up the grant as deferred income, which is recognised in the Statement of Profit and Loss on a

3.23 Events After the Reporting Period

Adjusting events (events that provide evidence of conditions existing at the reporting date) occurring between the reporting date and the date the financial statements
are authorised for issue are reflected in the financial statements. Non-adjusting events (events indicative of conditions arising after the reporting date) of material
nature are disclosed in the notes.

3.24 Related Party Transactions

Related parties are identified in accordance with Ind AS 24 and Section 188 of the Companies Act, 2013. Transactions with related parties are entered into on an arm''s-
length basis and in the ordinary course of business, in compliance with the Company''s policy on related party transactions and the approval framework prescribed under
the Act and applicable SEBI regulations.

All material related party transactions are disclosed in the notes with details of the related party, nature of relationship, nature and value of transaction, and
outstanding balances at the reporting date.

3.25 Trade Payables — Micro, Small and Medium Enterprises (MSMED)

The Company identifies suppliers covered under the MSMED Act, 2006 based on disclosures / confirmations received from such suppliers. Interest on delayed
payments, if any, to such suppliers is provided in accordance with Section 16 of the MSMED Act and is disclosed separately in the notes.

3.26 Reconciliation of Stock Statements Filed with Banks

Where the Company has been sanctioned working capital limits in excess of the threshold under the Companies (Auditor''s Report) Order, 2020 on the basis of security
of current assets, periodic stock and book-debt statements are filed with the lender banks.

3.27 Changes in Accounting Policies, Estimates and Errors

Changes in accounting policies are applied retrospectively in accordance with Ind AS 8, except where transitional provisions of the relevant Ind AS provide otherwise or
where retrospective application is impracticable. The cumulative effect is reflected in the opening balance of retained earnings of the earliest period presented.

Changes in accounting estimates (useful lives, residual values, actuarial assumptions, provisions, expected outcomes on long-duration fabrication contracts) are
recognised prospectively in the period of change and future periods, if the change affects both.

Prior period errors are corrected retrospectively by restating the comparative amounts for the prior periods presented or, if the error occurred before the earliest
period presented, by restating the opening balances of assets, liabilities and equity for the earliest period presented.

3.28 Standards Issued but Not Yet Effective

The Ministry of Corporate Affairs notifies new standards or amendments from time to time. The Company evaluates the impact of such pronouncements on its financial
statements as and when they become effective and, where material, discloses the expected impact in the period prior to their effective date.

(a) Nature and purpose of reserves

(i) Securities premium

Securities premium represents the amount received in excess of the face value of equity shares. During the year, the Company received ^20,826.00 lakhs as premium on the fresh issue
of 2,34,00,000 equity shares of ^10 each at ^99 per share in its initial public offering, against which share-issue expenses of ^2,499.30 lakhs were written off in accordance with Section
52 of the Companies Act, 2013. The balance is available for utilisation only for the purposes specified in Section 52 of the Act.

(ii) Retained earnings

Retained earnings comprise the cumulative undistributed profits of the Company, net of appropriations by way of transfers to general reserve and dividends paid. The balance is available
for distribution to shareholders subject to the provisions of the Companies Act, 2013.

42 Employee benefits

a) Description of the type of the plan
Defined Benefit Plan - Gratuity

The Company operates gratuity plan wherein every employee is entitled to the benefit equivalent to 15 days of total basic salary last drawn for each completed year of service. Gratuity is payable to all eligible
employees of the Company on retirement, separation, death or permanent disablement, in terms of the provisions of the Payment of Gratuity Act, 1972.

Post-Employment Benefits plan defined in a(ii) and a(iii) above typically expose the Company to actuarial risks such as: Salary increase, Discount rate, Morality and Disability and withdrawals

a) Salary Increases :- Actual salary increases will increase the Plan''s liability. Increase in salary increase rate assumption in future valuations will also increase the liability.

b) Discount Rate :- Reduction in discount rate in subsequent valuations can increase the plan''s liability.

c) Mortality & disability :- Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

d) Withdrawals :- Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent valuations can impact Plan''s liability.

45 Financial risk management objectives and policies

The Company''s principal financial liabilities comprise borrowings, trade payables, security deposits received and other payables. The main purpose ofthese financial liabilities is to finance the Company''s operations.
The Company''s principal financial assets include trade receivables, loans, cash and cash equivalents and other receivables that derive directly from its operations. The Company also holds investments measured at
fair value through profit or loss, comprising gold, an interest in a partnership firm and quoted equity shares (Refer Notes 7 and 12).

The Company is exposed to market risk, credit risk and liquidity risk. The management oversees the management of these risks, is responsible for formulating an appropriate financial risk governance framework,
and periodically reviews the policies for managing each of these risks, which are summarised below.

(a) Market Risk

Market risk is the risk that the fairvalue or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market riskfor the Company comprises interest rate risk and other price risk.
The Company has no significant foreign-currency exposure.

47 Additional Regulatory information

(i) Title deeds of Immovable Properties not held in name of the Company

The title deeds of all immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in the financial statements under
Property, Plant and Equipment and Investment Property are held in the name of the Company.

(ii) Details of Benami Property held

The Company does not hold any benami property, and no proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and the rules made thereunder.

(iii) Details of Loans and advances

The Company has not granted any loans or advances in the nature of loans to promoters, directors, key managerial personnel or related parties (as defined under the Companies Act, 2013), either severally or jointly
with any other person, that are repayable on demand or granted without specifying any terms or period of repayment.

(iv) Wilful Defaulter

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

(v) Relationship with Struck off Companies

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

(vi) Registration of charges or satisfaction with Registrar of Companies (ROC)

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

(vii) Compliance with number of layers of companies

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

(viii) Compliance with approved Scheme(s) of Arrangements

No scheme of arrangements has been approved by the competent authority in terms of Sections 230 to 237 of the Companies Act, 2013 during the year.

(ix) Discrepancy in utilization of borrowings

Borrowings from banks and financial institutions were applied for the specific purposes for which they were obtained as at the Balance Sheet date. There is no discrepancy in the utilisation of borrowings.

(x) Utilisation of Borrowed funds and share premium:

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall (a) directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(B) The Company has not received any funds from any person(s) or entity(ies), including foreign entities ("Funding Party"), with the understanding, whether recorded in writing or otherwise, that the Company shall
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or (b) provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries.

(xi) Undisclosed income

The Company has no transactions not recorded in the books of account that have been surrendered or disclosed as income during the year in tax assessments underthe Income Tax Act, 1961 (such as search, survey
or any other relevant provisions), nor any previously unrecorded income and related assets.

(xii) Details of Crypto Currency or Virtual Currency

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

(ii) Geographical information

All revenue from contracts with customers is derived from customers located in India and all non-current assets of the Company are located in India. Accordingly, no geographical disaggregation is presented.

(iii) Information about major customers

No revenue from any single external customer amounted to 10% or more of the Company''s total revenue during the year ended 31 March 2026 or 31 March 2025.

49 Events after the reporting period and authorisation of financial statements for issue

Subsequent to the year end, on 1 April 2026, the Company disposed of its entire interest in the partnership firm M/s BMW Hardware & Steel for a consideration of K 207.79 lakhs (carrying amount as at 31 March
2026: K207.79 lakhs), with no material gain or loss. This is a non-adjusting event under Ind AS 10 and accordingly no adjustment has been made to these financial statements.Other than the above, there are no
significant events after the reporting period that require adjustment to, or disclosure in, these financial statements. The financial statements for the year ended 31 March 2026 were approved and authorised for
issue by the Board of Directors at its meeting held on 27 May 2026.

50 Previous year''s figures have been regrouped / reclassed, where necessary, to confirm to current year''s classification. This does not impact recognition and measurement principles followed for preparation of
financial statements.