అకౌంట్స్ గమనికలుGlobal Defence Industries Ltd.

Mar 31, 2025

3.1 Impairment losses recognised in the year

The Company has carried out impairment test on its Property, Plant and Equipments as on the date of Balance Sheet and the Management is of the opinion that there is no asset for which provision for impairment is required to be made as per Ind AS - 36 Impairment of Assets.

8.3 The company has only one class of shares referred to as Equity shares having a face value of INR 10 each (March 31, 2025: INR 10 each). Each holder of equity shares is entitled to one vote per share.

8.4 In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

The estimates of future salary increases, considered in the actuarial valuation take account of inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employee market. The expected rate of return on the plan assets is determined considering several applicable factors, mainly the composition of plan assets held, assessed risk, and historical results of returns on plan assets etc.

The sensitivity analysis is based on a change in one assumption while not changing all other assumptions. This analysis may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in the assumptions would occur in isolation of one another since some of the assumptions may be co-related.

The weighted average duration of the defined benefit plan obligation at the end of the reporting period is 3.75 years (previous year : Nil)

(iv) Terms and conditions of transactions with related parties

The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year end are unsecured and interest free and settlement occurs by cash flows. There have been no guarantees provided or received for any related party receivables and payables. This assessment is undertaken each financial year through examining the financial position of the related party and market in which the related party operates.

28 Segment reporting

The company is mainly engaged in the business of development , production & sell of advanced naval systems, ammunitions, explosives and all accessories that cater to the Indian and Global defence Market. As per Chief Operating Decision Maker, there are no reportable segments under Ind AS-108 “ Operating Segment” during the year under report. The conditions prevailing in India being uniform, no separate geographical disclosures are considered necessary

29 Financial risk management objectives and policies

The company’s activity expose it to market risk, liquidity risk and credit risk. The company’s focus is to foresee the unpredictability of financial risk and to address the issue to minimize the potential adverse effects of its financial performance. In order to minimise any adverse effects on the financial performance of the company, derivative financial instruments, such as interest rate swaps to hedge variable interest rate exposures. Derivatives are used exclusively for hedging purposes and not as trading or speculative instruments. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact of hedge accounting in the financial statements.

The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The Company’s financial risk management policy is set by the company’s management.

Financial risk management

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

(i) Credit risk

(ii) Liquidity risk, and

(iii) Market risk

(A) Credit risk

Credit risk refers to the risk for a counter party default on its contractual obligation resulting a financial loss to the company. The maximum exposure of the financial assets represents trade receivables, work in progress and receivables.

The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. Customer credit risk is managed centrally by the Company and subject to established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits defined in accordance with the assessment.

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies.

(B) Liquidity risk

Liquidity risk refers to the risk of financial distress or extraordinary high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. The Company requires funds both for short term operational needs as well as for long term capital expenditure growth projects. The Company generates sufficient cash flow for operations, which together with the available cash and cash equivalents and short term investments provide liquidity in the short-term and longterm. . The Company has established an appropriate liquidity risk management framework for the management of the Company’s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods and its non-derivative financial assets. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows.

30 Capital Management

The primary objective of capital management of the Group is to maximise shareholder value. The Group monitors capital using debt-equity ratio, which is total debt divided by total equity. For the purpose of capital management, the Group considers the following components of its Standalone Balance Sheet to manage capital: Total equity includes general reserve, retained earnings and share capital. Total debt includes current debt plus non-current debt.

b) Fair value hierarchy

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

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

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

c) Valuation technique used to determine fair value

Specific Valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of the remaining financial instruments is determined using discounted cash flow analysis

d) Valuation processes

The finance department of the company includes a team that performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values. This team reports direclty to the chief financial officer (CFO) and the audit committee. Discussions of valuation processes and results are held between the CFO, Audit committee and the valuation team at least once every three months, in line with the company''s quarterly reporting periods. The following tables provides the fair value measurement hierarchy of the Company''s assets and liabilities:

32 Lease

The Group have taken various premises under operating lease. These are generally cancellable and ranges from 11 months to 5 years and are renewable by mutual consent on mutually agreeable terms. Some of these lease agreements have price escalation clauses. There are no restrictions imposed by these lease arrangements and there are no sub leases. There are no contingent rents. The interest rate applied to lease liabilities is 10.00%.

34. Additional regulatory information required by Schedule II of Division III of the Companies Act, 2013a) Details of Benami p roperty

The Company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder as at March 31, 2025. Further, no proceedings have been initiated or pending against the Company for holding any benami property under the act and rules mentioned above for the period ended March 31, 2025.

b) Willful Defaulter

The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India for the year ended March 31, 2025 and March 31, 2024.

c) Utilisation of borrowed funds:

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

i) directly or indirectly lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

ii) provide any guarantee, security or the like or on behalf of the ultimate beneficiaries.

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

i) directly or indirectly lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries)

ii) provide any guarantee, security or the like or on behalf of the ultimate beneficiaries

d) Compliance with number of layers of comp anies

The Company has complied with the number of layers prescribed under the Companies Act, 2013

e) Compliance with approved scheme(s) of arrangements:

The Company has not entered into any scheme of arrangement in terms of section 230 to 237 of the Act for the year ended March 31, 2025 and March 31, 2024.

f) Relationship with struck-off companies

The Company does not have any relationship and transactions with struck off companies under Section 248 of the Act or Section 560 of Companies Act, 1956 during the year ended March 31, 2025 and March 31, 2024.

g) Undisclosed income

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

h) Details of crypto currency or virtual currency:

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

i) Valuation of Property, Plant and Equipment

The Company has not revalued its property, plant and equipment, right-of-use assets and intangible assets during the current and previous year.

j) Registration of charges or satisfaction with Registrar of Companies (‘ROC’)

There are no charges which are yet to be registered with the ROC beyond the statutory period as at March 31, 2025 and March 31, 2024.

k) Loans and advances to specified persons

The Company has granted loan to related parties, that is repayable on demand or without specifying the terms of period of repayment.

36. During the year, the Company has used accounting software for maintaining books of accounts which has a feature of recording audit trail facility and the same has been operated throughout the year for all relevant transactions recorded in the software. Further, there were no instances of audit trail being tampered with in respect of the accounting software.

37. There are no subsequent events which warrant adjustments or disclosure in the financial statements.

38. Issue of Shares on Right Basis

During the year, the Company has issued 3,31,375 equity shares of face value of Rs. 10 each at issue price of Rs. 35 on right basis and has raised Rs. 115.98 lakhs and the amount received was utilised for the purpose for which the shares were issued.

39. Previous years’ figures

Previous years’ figures have been reclassified, regrouped and rearranged, wherever necessary to conform to current year’s presentation.

40. Authorisation of financial statement

These standalone financial statements as at and for the year ended March 31, 2025 (including comparative informations) were approved by the Board of Directors on May 22, 2025.

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Mar 31, 2024

p Provisions, contingent liabilities and contingent assets

Company recognizes provision, when there is a present legal or constructive obligation as a result of past events,
where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the
amount of the obligation can be made. Where a provision is measured using the cash flows estimated to settle the
present obligation, its carrying amount is the present value of those cash flows.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to
occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company,
or where any present obligation cannot be measured in terms of future outflow of resources, or where a reliable
estimate of the obligation cannot be made.

Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are
provided for.

As per Ind AS 37, Contingent liabilities, if any, are not recognized but are disclosed and described in the notes to the
financial statements, including an estimate of their potential financial effect and uncertainties relating to the amount
or timing of any outflow, unless the possibility of settlement is remote.

Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.
q Cash and cash equivalents

Cash and cash equivalents for the purpose of the cash flow statement comprise cash at bank and in hand and short¬
term investments with an original maturity of three months or less.

r. Related Party Disclosures

All disclosures as specified under Ind AS 24 are made in these financial Statements in respect of the company’s
transactions with related parties.

s. Financial Instruments: -

Financial assets and financial liabilities are recognized on the Company Balance Sheet when the Company becomes
a party to the contractual provisions of the instrument.

Financial Assets -

Company does not have any Trade receivables, Interest bearing borrowing & Trade Payables for the year.
Financial Assets - Investments

Investments consist of investments in equity shares (quoted) and are recognized at fair value through profit & loss.
Gains and losses arising from changes in fair value are recognized in profit or loss. Dividends, if any, on equity
instruments are recognized in profit or loss when the company’s right to receive payment is established, it is probable
that the economic benefits associated with the dividend will flow to the entity and the amount of the dividend can be
measured reliably.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is a current
legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize
the asset and settle the liability simultaneously.

EXPLANATION OF MATERIAL ADJUSTMENTS TO THE STANDALONE CASH FLOW STATEMENT FOR THE YEAR
ENDED MARCH 31, 2024

The transition from Indian GAAP to Ind AS has not had a material impact on the statement of cash flows.

NOTE 20 NOTES ON RATIOS

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

Other Fair Value Related Disclosures

Recurring / non-recurring classification of fair value

All fair value measurements for the period ended are recurring in nature and there are no Non-recurring fair value measurements
of assets or liabilities in these periods.

Level 3 inputs related disclosure

There are no recurring fair value measurements using significant unobservable inputs (Level 3) in the reporting periods and
hence there is no effect of the measurements on profit or loss or other comprehensive income for the period.

Transfers between Level 1 and Level 2

There have been no transfers between Level 1 and Level 2 of the fair value hierarchy for all assets and liabilities held at the
end of the reporting period that are measured at fair value on a recurring basis.

Change in Valuation techniques, if any

There has been no change in the valuation techniques in the reporting periods.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the Company’s receivables from customers and investment securities.
Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business.

The Company establishes an allowance for credit losses and impairment that represents its estimate of expected losses in
respect of trade and other receivables and investments.

The Company periodically assesses the financial reliability of customers / corporates taking into account the financial
condition, current economic trends, analysis of historical bad debts and ageing of accounts receivable and loans receivable.
These include customers / corporates, which have high credit-ratings assigned by international and domestic credit-rating
agencies. Individual risk limits are set accordingly. There has been no credit loss arise during the year.

24. Capital Management

The Company’s objectives when managing capital (defined as net debt plus equity) are to safeguard the Company’s
ability to continue as a going concern in order to provide returns to shareholders and benefits for other stakeholders,
while protecting and strengthening the balance sheet through the appropriate balance of debt and equity funding. The
Company manages its capital structure and makes adjustments to it, in light of changes to economic conditions and the
strategic objectives of the Company. To maintain or adjust the capital structure, the Company may adjust the dividend

payment to shareholders, buy back shares and cancel them, or issue new shares. The Company finances its operations
by a combination of retained profit, bank borrowings, disposals of property assets, etc. The Company borrows uses
borrowing facilities to meet the Company’s business requirements of each local business.

The Company monitors capital using gearing ratio, which is total debt divided by total capital plus debt.

25. Collaterals: -

The Company has obtained working capital loan form banks which are secured by:

• Fixed deposits - Value Rs. NIL

• Hypothecation of Stock in trade and Trade receivables - Value Rs. NIL

• Mortgage of premises - Value Rs. NIL
Defaults

For loans payable recognized at the end of the reporting period, there have been no defaults.

26. The figures of previous year have been regrouped / reclassified wherever necessary and possible so as to confirm with
the figures of the current year.

1. Current Ratio decreased by 37.19% in F.Y. 2023-24 as compared to F.Y. 2022-23 due to increase in Current Liabilities as
compared to increase in current assets.

28. Notes on Ratios

No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended
Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

29. Disclosure of Transactions with Struck Off Companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act,
2013 or Section 560 of Companies Act, 1956 during the financial year.

As per our report of even date attached
For Jay Gupta & Associates

(Erstwhile Gupta Agarwal & Associates) For and on behalf of the Board

Chartered Accountants Anshuni Commercials Limited

FRNo.329001E

Jay Shanker Gupta Rahul Jhunjhunwala Mahesh Panwar

Partner Director/CFO Managing Director

Membership No. 059535 DIN: 00527214 DIN: 06702073

Pooja

Company Secretary

Place: Kolkata Place: Mumbai

Dated: 29.05.2024 Dated: 29.05.2024

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Mar 31, 2014

1.Share Capital

(1.1) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(1.2) Shares held by each shareholder holding more than 5% shares.

2. Notes on accounts for the year ended 31st March 2014

3.1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

3.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

3.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

3.4) The management is of opinion that due to sluggish capital market the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard -28 "Impairment of Assets".

3.5) Related party Disclosure

List of Related Parties and Relationships

a. Directors (Key Management Personnel)

Party Name Relationships

Nitin K Mehta Director

Bhavin N Mehta Director

Navin C Shah Director

Anshul N Mehta Director

b. Relatives of Directors (Key Management Personnel)

Party Name Relationships

Bharati N Mehta Relative of Director

Purvi B. Mehta Relative of Director

Madhu N Shah Relative of Director

c. Company/Firm in Which Directors/relative of directors are interested

Subir Diamonds Sister Concerns/Associates

India shopping mall.com Pvt. Ltd Sister Concerns/Associates

Tycartai Jewellery Pvt. Ltd Sister Concerns/Associates

GelidNet Promotion & Entertainment Pvt. Ltd. Sister Concerns/Associates

3.6) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

3.7) Figures of previous year have been re-grouped, re-arrange, wherever necessary to conform to the current year presentation.

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Mar 31, 2013

1.1) In the opinion of the directors & to the best of their knowledge and belief, the vahie on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet

1.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

1.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

1.4) The management is of opinion that due to sluggish capital matrices the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard-28 "Impairment of Assets*.

1.5) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

1.6) Figures of previous year have been re-grouped, re-arrange, wherever necessary to conform to the current year presentation. .

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Mar 31, 2012

1.1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

1.2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

1.3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

1.4) The management is of opinion that due to sluggish capital market the value Investment in shares has been fallen substantially and they expect recovery in the near future. Considering the same being of temporary nature the management does not feel necessary to provide for impairment loss for investment in shares as per the provision of Accounting Standard -28 "Impairment of Assets".

1.5) Other provision of Revised Schedule VI of Companies Act, 1956 are either Nil or not applicable.

1.6) Figures of previous year have been re-grouped, re-arrange and reclassified wherever necessary to conform to the current year presentation.

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Mar 31, 2010

I. OTHER NOTES:

1) In the opinion of the directors & to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

2) Balances appearing to the debit or credit of various parties, Loans & Advances and Deposits are subject to confirmation.

3) None of the supplier has informed the company that they are registered under Micro, Small and Medium enterprises Development Act, 2006.

4) Related party Disclosure

List of Related Parties and Relationships

a. Directors (Key Management Personnel)

Party Name Relationships

Nitin K Mehta Director

Bhavin N Mehta Director

Navin C Shah Director

Ansul N Mehta Director

b. Relatives of Directors CKev Management Personnel)

Party Name Relationships

Bharati N Mehta Relative of Director

Purvi B. Mehta Relative of Director

Madhu N Shah Relative of Director

c. Company / Firm in Which Directors/ relative of directors are interested

Subir Diamonds Sister Concerns/Associates

India shopping mall.com Pvt. Ltd Sister Concerns/Associates

Tycarti Jewellary Pvt. Ltd Sister Concerns/Associates

GelidNet Promotion & Entertainment Pvt. Ltd. Sister Concerns/Associates

5) Other provision of Part II of Schedule VI of Companies Act, 1956 are either Nil or not applicable.

6) Figures of previous year have been re-grouped, re-arrange and recast, wherever considered necessary.