2.18 Provisions, contingent liabilities and contingent assets

Provisions are recognized when the Company has a present legal or constructive obligation as a
result of past events, it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. A provision is made in respect of onerous
contracts, i.e., contracts in which the unavoidable costs of meeting the obligations under the
contract exceed the economic benefits expected to be received under such contracts. Provisions are
not recognized for other future operating losses. The carrying amounts of provisions are reviewed
at each balance sheet date and adjusted to reflect the current best estimate.

Where there are a number of similar obligations, the likelihood that an outflow will be required in
settlement is determined by considering the class of obligations as a whole.

Provisions are measured at the present value of management''s best estimate of the expenditure
required to settle the present obligation at the end of the reporting period. The discount rate used
to determine the present value is a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the liability. The increase in the provision due to the
passage of time is recognized as interest expense.

A disclosure for contingent liabilities is made where there is a possible obligation or a present
obligation that may probably not require an outflow of resources or an obligation for which the
future outcome cannot be ascertained with reasonable certainty. When there is a possible or a
present obligation where the likelihood of outflow of resources is remote, no provision or
disclosure is made.

2.19 Borrowings

Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are
subsequently measured at amortized cost. Any difference between the proceeds (net of transaction
costs) and the redemption amount is recognized in the Statement of profit and loss over the period
of the borrowings using the effective interest method.

Borrowings are derecognized from the balance sheet when the obligation specified in the contract
is discharged, cancelled or expired. The difference between the carrying amount of a financial
liability that has been extinguished or transferred to another party and the consideration paid,
including any non-cash assets transferred or liabilities assumed, is recognized in Statement of
profit and loss as other gains/(losses).

Borrowings are classified as current liabilities unless the Company has an unconditional right to
defer settlement of the liability for at least 12 months after the reporting period.

2.20 Borrowing costs

General and specific borrowing costs that are directly attributable to the acquisition, construction
or production of a qualifying asset are capitalized during the period of time that is required to
complete and prepare the asset for its intended use or sale. Qualifying assets are assets that
necessarily take a substantial period of time to get ready for their intended use or sale.

Other borrowing costs are expensed in the period in which they are incurred.

2.21 MSME Disclosures

The Company has no suppliers and customers covered under Micro, Small and Medium
Enterprises Development Act, 2006. Management believes that on confirmation there will not be
any material impact on statement of financial statements.

2.22 Related Party Disclosures
Key Management personnel

• Ankush Bakshi (Managing Director)

• Anuj Bakshi (Chairman)

• Roshni Bakshi (Executive Director)

• Kanika Bakshi (Executive Director)

• Pankaj Khanna (Company Secretary)

• Arihant Jain (Non-Executive & Independent Director)

• Sathvik Jain (Independent Director)

• Malti Jaiswal (Non-Executive & Independent Director)

• Dinesh Shaw (Non-Executive & Independent Director)

Enterprises over which Key Management Personnel exercise significant influence

• M/s United Wines

• NS Bonded Warehouse Private Limited.

2.23 Exceptional items

When an item of income or expense within Statement of profit and loss from ordinary activity is
of such size, nature or incidence that its disclosure is relevant to explain more meaningfully the
performance of the Company for the year, the nature and amount of such items is disclosed as
exceptional items.

2.24 Operating Segments (Segmental information)

The Company is engaged in the business of purchase and sale of beverage alcohol (spirits and
wines). The Management of the Company (being the Chief Operating Decision Maker) assesses
performance and allocates resources for the business of the Company as a whole and hence the
management considers company''s business activities as a single operating segment (viz. Beverage
alcohol). As such no segment disclosures have been made in the financial statements as at and for
the year ended 31^st March, 2026.

2.25 Significant accounting judgements, estimates and assumptions

The preparation of financial statements requires the use of accounting estimates which, by
definition, will seldom equal the actual result. This note provides an overview of the areas that
involved a higher degree of judgement or complexity, and of items which are more likely to be
materially adjusted due to estimates and assumptions turning out to be different than those
originally assessed. Detailed information about each of these estimates and judgements is included
in relevant notes together with information about the basis of calculation for each affected line
item in the financial statements.

The areas involving critical estimates and judgements are:

• Estimation of provisions and contingent liabilities - Note 23

Estimates and judgements are continually evaluated. They are based on historical experience and
other factors, including expectations of future events that may have a financial impact on the
Company and that are believed to be reasonable under the circumstances.

* Revenue from Contracts with Customers

With effect from 1^st April, 2018, the Company has adopted Ind AS 115 ''Revenue from Contracts
with Customers'' that replaces Ind AS 18. It introduces a new five-step approach to measuring and
recognising revenue from contracts with customers. Under Ind AS 115, revenue is recognised at
an amount that reflects the consideration to which an entity expects to be entitled in exchange for
sales of goods and services to a customer.

Note No. 25

Contribution to Political Party

During the year, the Company has made Nil Contributions during the year through purchase of
''Electoral Bonds'' issued under ''Electrol Bond Scheme'' introduced by Government of India. The
bonds have been encashed by political parties registered under Section 29A of the Representation of
the People Act.

Note No. 26

Corporate Social Responsibility

As per Section 135 of the Companies Act 2013, a Company, meeting the applicability threshold,
needs to spend at least 2% of its average net profit for the immediately preceding three financial
years on corporate social responsibility (CSR) activities. A CSR committee has been formed by the
company as per the Act. The funds were primarily utilized throughout the year on activities as stated
in para (VII) below, which are specified in Schedule VII of the Companies Act 2013:
*During the period, the Company has spent ? 10.00 Lakhs towards Corporate Social Responsibility
under Section 135 of the Companies Act, 2013. The amount required to be spent on Corporate Social
Responsibility is ? 41.55 Lakhs. The unspent amount of ? 31.55 has been transferred to fund specified
in Schedule VII of the Companies Act'' 2013 within the period of six months of the expiry of financial
year in compliance with the provision of Section 135(5) of the said Act.

Note No. 27

''Employee Benefits'', in accordance with Accounting Standard (Ind As-19)

a. Defined Contribution Plans
Provident Fund:

Provident Fund covers substantially all permanent workmen. Contributions towards Provident
Fund are made as a percentage of salary, as per regulations to a fund administered by government
authority. The obligation of the Company is limited to the extent of contributions made on a monthly
basis.

During the year, the Company has recognised the following amounts in the Statement of Profit &
Loss, which are included in contribution to provident fund in the employee benefit expense:

b. Defined Benefit Plans
Gratuity:

The Company has a defined benefit gratuity plan. Every employee who has completed five years
or more of continuous service gets a gratuity on departure at 15 days'' salary (last drawn salary)
for each completed year of service.

As per Actuarial Valuations as on 31st March, 2026 and recognised in the financial statements in
respect of Employee Benefit Schemes:

Note No. 30
Impairment Review

Assets are tested for impairment whenever there are any internal or external indicators of
impairment. Impairment test is performed at the level of each Cash Generating Unit (''CGU'') or
groups of CGUs within the Company at which the goodwill or other assets are monitored for internal
management purposes, within an operating segment. The impairment assessment is based on higher
of value in use and value from sale calculations.

During the year, the testing did not result in any impairment in the carrying amount of assets.

Note No. 31
Proposed Dividend

The Board of Directors have proposed a final dividend of ? 0.35 per Equity Share for the FY 2025-26
(P.Y. ? 0.30 per Equity Share). The same is subject approval by the Shareholders at the ensuing
Annual General Meeting.

Note No. 32

The Company has not received intimation from vendors regarding their status under the Micro,
Small and Medium Enterprises Development Act, 2006. Hence, disclosures relating to amount
unpaid as on 31st March, 2026 together with interest paid or payable under this Act have not been
given.

Note No. 33

The Company does not have any derivative contracts as at 31st March, 2026.

Note No. 34

Previous Year''s figures have been regrouped/reclassified to conform to the current year''s
classification

Note No. 35

All amounts are disclosed in the financial statements and notes in rupees lakhs and rounded off to
two decimal places.

Note No. 36

Other Statutory Information

A. Title deeds of Immovable Property

The title deeds of all the immovable properties, disclosed in the financial statements included in
Property, Plant and Equipment (Note No. 3) are held in the name of the Company as at the balance
sheet date except Land and Building include gross amounts of ? 502.45 Lakhs in respect of which
the title deed is yet to be registered in the name of the Company.

B. Loans or advances in the nature of loans are granted to promoters, directors, KMPs and the
related parties

There is no Loan/Advance to Promoters, Directors, KMP and the Related Parties.

C. Details of Benami Property held

There have been no proceedings initiated or pending against the Company for holding any benami
property under the Benami Transactions (Prohibition) and Act, 1988 (45 of 1988) and rules made
thereunder.

D. Borrowings from banks or financial institutions on the basis of security of Current Assets

The Company has used the borrowings from banks and financial institutions for the specific purpose
for which it was obtained.

E. Wilful Defaulter

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

F. Relationship with Struck off Companies

The Company has not entered into any transactions with the companies struck off under section
248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

G. Registration of charges or satisfaction with Registrar of Companies (ROC)

Registration of Charges or Satisfaction with the Registrar of Companies (ROC) done within the
statutory period.

H. Compliance with number of layers of Companies

The Company has no subsidiaries or investments in other companies, accordingly compliance
with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017, are not applicable.

I. Compliance with approved Scheme(s) of Arrangements

There are no Scheme of Arrangements approved by the Competent Authority in terms of section
230 to 237 of the Act.

J. 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 persons 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 on behalf of the ultimate beneficiaries.

K. 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 persons or entities identified in any manner
whatsoever by or on behalf of the funding party (ultimate beneficiaries) or

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

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past
events, it is probable that an outflow of resources will be required to settle the obligation and the amount
can be reliably estimated. A provision is made in respect of onerous contracts, i.e., contracts in which the
unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to
be received under such contracts. Provisions are not recognized for other future operating losses. The
carrying amounts of provisions are reviewed at each balance sheet date and adjusted to reflect the current
best estimate.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement
is determined by considering the class of obligations as a whole.

Provisions are measured at the present value of management''s best estimate of the expenditure required to
settle the present obligation at the end of the reporting period. The discount rate used to determine the
present value is a pre-tax rate that reflects current market assessments of the time value of money and the
risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest
expense.

A disclosure for contingent liabilities is made where there is a possible obligation or a present obligation that
may probably not require an outflow of resources or an obligation for which the future outcome cannot be
ascertained with reasonable certainty. When there is a possible or a present obligation where the likelihood
of outflow of resources is remote, no provision or disclosure is made.

Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are
subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs)
and the redemption amount is recognized in the Statement of profit and loss over the period of the
borrowings using the effective interest method.

Borrowings are derecognized from the balance sheet when the obligation specified in the contract is
discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has
been extinguished or transferred to another party and the consideration paid, including any non-cash assets
transferred or liabilities assumed, is recognized in Statement of profit and loss as other gains/(losses).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer
settlement of the liability for at least 12 months after the reporting period.

General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalized during the period of time that is required to complete and
prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use or sale.

Other borrowing costs are expensed in the period in which they are incurred.

The Company has no suppliers and customers covered under Micro, Small and Medium Enterprises
Development Act, 2006. Management believes that on confirmation there will not be any material impact
on statement of financial statements.

Key Management personnel

• Ankush Bakshi (Managing Director)

• Anuj Bakshi (Executive Director)

• Roshni Bakshi (Executive Director)

• Kanika Bakshi (Executive Director)

• Pankaj Khanna (Company Secretary)

• Sharad Agarwal (Chief Financial Officer, appointed w.e.f. 02.08.2024)

• Arihant Jain (Non-Executive & Independent Director, w.e.f. 27.06.2023)

• Sathvik Jain Non-Executive & (Independent Director)

• Jagjit Singh Kochar ((Non-Executive & Independent Director, resigned w.e.f. 06.08.2024)

• Malti Jaiswal (Non-Executive & Independent Director)

• Dinesh Shaw (Non-Executive & Independent Director, appointed w.e.f. 02.11.2024))

Enterprises over which Key Management Personnel exercise significant influence

• M/s United Wines

• NS Bonded Warehouse Pvt. Ltd.

When an item of income or expense within Statement of profit and loss from ordinary activity is of such size,
nature or incidence that its disclosure is relevant to explain more meaningfully the performance of the
Company for the year, the nature and amount of such items is disclosed as exceptional items.

The Company is engaged in the business of purchase and sale of beverage alcohol (spirits and wines). The
Management of the Company (being the Chief Operating Decision Maker) assesses performance and
allocates resources for the business of the Company as a whole and hence the management considers
company''s business activities as a single operating segment (viz. Beverage alcohol). As such no segment
disclosures have been made in the financial statements as at and for the year ended 31^st March, 2025.

D) Terms/rights attached to equity share

The Company has only one class of equity shares having par value of ^10/- per share. Each holder of equity
share is entitled to one vote per share. The Company declares dividend in Indian Rupees. The dividend, if
any, proposed by the Board of Directors is subject to approval of the Shareholders in the ensuing Annual
General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company after payment of all liabilities. The distribution will be in proportion
to the number of equity shares held by the shareholders.

During the year, the Company has made Nil Contributions during the year (P.Y. ^ 120.00 Lakhs) through
purchase of ''Electoral Bonds'' issued under ''Electrol Bond Scheme'' introduced by Government of India. The
bonds have been encashed by political parties registered under Section 29A of the Representation of the
People Act.

Note No. 26

As per Section 135 of the Companies Act 2013, a company, meeting the applicability threshold, needs to
spend at least 2% of its average net profit for the immediately preceding three financial years on corporate
social responsibility (CSR) activities. A CSR committee has been formed by the company as per the Act. The
funds were primarily utilized throughout the year on activities as stated in para (VII) below, which are
specified in Schedule VII of the Companies Act 2013:

a. Defined Contribution Plans
Provident Fund:

Provident Fund covers substantially all permanent workmen. Contributions towards Provident Fund are
made as a percentage of salary, as per regulations to a fund administered by government authority. The
obligation of the Company is limited to the extent of contributions made on a monthly basis.

During the year, the Company has recognised the following amounts in the Statement of Profit & Loss, which
are included in contribution to provident fund in the employee benefit expense:

b. Defined Benefit Plans
Gratuity:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of
continuous service gets a gratuity on departure at 15 days'' salary (last drawn salary) for each completed year
of service.

As per Actuarial Valuations as on 31st March, 2025 and recognised in the financial statements in respect of
Employee Benefit Schemes:

Assets are tested for impairment whenever there are any internal or external indicators of impairment.
Impairment test is performed at the level of each Cash Generating Unit (''CGU'') or groups of CGUs within the
Company at which the goodwill or other assets are monitored for internal management purposes, within an
operating segment. The impairment assessment is based on higher of value in use and value from sale
calculations.

During the year, the testing did not result in any impairment in the carrying amount of assets.

Note No. 31

The Board of Directors have proposed a final dividend of ^0.30 per Equity Share for the FY 2024-25 (P.Y. ^
0.25 per Equity Share). The same is subject approval by the Shareholders at the ensuing Annual General
Meeting.

Note No. 32

The Company has not received intimation from vendors regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence, disclosures relating to amount unpaid as on 31st March,
2025 together with interest paid or payable under this Act have not been given.

Note No. 33

The company does not have any derivative contracts as at 31st March, 2025.

Note No. 34

Previous Year''s figures have been regrouped/reclassified to conform to the current year''s classification

Note No. 35

All amounts are disclosed in the financial statements and notes in rupees lakhs and rounded off to two
decimal places.

Note No. 36

A. Title deeds of Immovable Property

The title deeds of all the immovable properties, disclosed in the financial statements included in Property,
Plant and Equipment (Note No. 3) are held in the name of the Company as at the balance sheet date.

B. Loans or advances in the nature of loans are granted to promoters, directors, KMPs and the related
parties

There is no Loan/Advance to Promoters, Directors, KMP and the related Parties.

C. Details of Benami Property held

There have been no proceedings initiated or pending against the Company for holding any benami property
under the Benami Transactions (Prohibition) and Act, 1988 (45 of 1988) and rules made thereunder.

D. Borrowings from banks or financial institutions on the basis of security of Current Assets

The Company has used the borrowings from banks and financial institutions for the specific purpose for
which it was obtained.

E. Wilful Defaulter

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

F. Relationship with Struck off Companies

The Company has not entered into any transactions with the companies struck off under section 248 of the
Companies Act, 2013 or section 560 of the Companies Act, 1956.

G. Registration of charges or satisfaction with Registrar of Companies (ROC)

Registration of Charges or Satisfaction with the Registrar of Companies (ROC) done within the statutory
period.

H. Compliance with number of layers of Companies

The Company has no subsidiaries or investments in other companies, accordingly compliance with the
number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on
number of Layers) Rules, 2017, are not applicable.

I. Compliance with approved Scheme(s) of Arrangements

There are no Scheme of Arrangements approved by the Competent Authority in terms of section 230 to 237
of the Act.

J. 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 persons 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 on behalf of the ultimate beneficiaries.

K. 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 persons or entities identified in any manner whatsoever
by or on behalf of the funding party (ultimate beneficiaries) or

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

L. Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

As per our report on even date

For J K S S & Associates For and on behalf of the Board of Directors

(Formerly known as J K Sarawgi & Company)

Chartered Accountants

FRN: 006836C Ankush Bakshi Anuj Bakshi

Managing Director Executive Director

CA Sanket Arvind Patel DIN: 02547254 DIN: 02500120

Partner

M. No. 160436

UDIN: 25160BMRJMS9623

Place: Kolkata Sharad Agarwal Pankaj Khanna

Date: 28^th May, 2025 Chief Financial Officer Company Secretary

14. Provisions and contingencies

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. A provision is made in respect of onerous contracts, i.e., contracts in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under such contracts. Provisions are not recognized for other future operating losses. The carrying amounts of provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole.

Provisions are measured at the present value of management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense.

A disclosure for contingent liabilities is made where there is a possible obligation or a present obligation that may probably not require an outflow of resources or an obligation for which the future outcome cannot be ascertained with reasonable certainty. When there is a possible or a present obligation where the likelihood of outflow of resources is remote, no provision or disclosure is made.

15. Borrowings

Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in the Statement of profit and loss over the period of the borrowings using the effective interest method.

Borrowings are derecognized from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any noncash assets transferred or liabilities assumed, is recognized in Statement of profit and loss as other gains/(losses).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.

16. Borrowing costs

General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale.

Other borrowing costs are expensed in the period in which they are incurred.

17. MSME Disclosures

The Company has no suppliers and customers covered under Micro, Small and Medium Enterprises Development Act, 2006. Management believes that on confirmation there will not be any material impact on statement of financial statements.

18. Related Party Disclosures Key Management personnel

• Ankush Bakshi (Managing Director)

• Anuj Bakshi (Executive Director & CFO)

• Roshni Bakshi (Executive Director)

• Kanika Bakshi (Executive Director)

• Pankaj Khanna (Company Secretary, w.e.f. 10.08.2023)

• Arihant Jain (Non-Executive & Independent Director, w.e.f. 27.06.2023)

• Sathvik Jain (Independent Director)

• Jagjit Singh Kochar (Independent Director)

• Malti Jaiswal (Non-Executive & Independent Director, w.e.f. 13.02.2023)

Enterprises over which Key Management Personnel exercise significant influence

• M/s United Wines

• NS Bonded Warehouse Pvt. Ltd.

19. Exceptional items

When an item of income or expense within Statement of profit and loss from ordinary activity is of such size, nature or incidence that its disclosure is relevant to explain more meaningfully the performance of the Company for the year, the nature and amount of such items is disclosed as exceptional items.

20. Segmental information

The Company is engaged in the business of purchase and sale of beverage alcohol (spirits and wines). The Management of the Company (being the Chief Operating Decision Maker) assesses performance and allocates resources for the business of the Company as a whole and hence the management considers company''s business activities as a single operating segment (viz. Beverage alcohol). As such no segment disclosures have been made in the financial statements as at and for the year ended March 31,2024.

C. Critical estimates and judgments

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual result. This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the financial statements.

The areas involving critical estimates and judgements are:

• Estimation of provisions and contingent liabilities - Note 23

Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Company and that are believed to be reasonable under the circumstances.

Note No. 25

Contribution to Political Party

During the year, the Company has made Political Contributions of ?120.00 Lakhs (P.Y. Nil) through purchase of ''Electrol Bonds'' issued under ''Electrol Bond Scheme'' introduced by Government of India. The bonds have been encashed by political parties registered under Section 29A of the Representation of the People Act.

Note No. 26

Corporate Social Responsibility

As per Section 135 of the Companies Act 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. A CSR committee has been formed by the company as per the Act. The funds were primarily utilized throughout the year on activities as stated in para (VII) below, which are specified in Schedule VII of the Companies Act 2013:

Note No. 27

‘Employee Benefits’, in accordance with Accounting Standard (Ind As-19)

a. Defined Contribution Plans Provident Fund:

Provident Fund covers substantially all permanent workmen. Contributions towards Provident Fund are made as a percentage of salary, as per regulations to a fund administered by government authority. The obligation of the Company is limited to the extent of contributions made on a monthly basis.

During the year, the Company has recognised the following amounts in the Statement of Profit & Loss, which are included in contribution to provident fund in the employee benefit expense:

b. Defined Benefit Plans Gratuity:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of continuous service gets a gratuity on departure at 15 days’ salary (last drawn salary) for each completed year of service.

As per Actuarial Valuations as on 31st March, 2024 and recognised in the financial statements in respect of Employee Benefit Schemes:

Note No. 30 Impairment Review

Assets are tested for impairment whenever there are any internal or external indicators of impairment. Impairment test is performed at the level of each Cash Generating Unit (‘CGU’) or groups of CGUs within the Company at which the goodwill or other assets are monitored for internal management purposes, within an operating segment. The impairment assessment is based on higher of value in use and value from sale calculations.

During the year, the testing did not result in any impairment in the carrying amount of assets.

Note No. 31 Proposed Dividend

The Board of Directors have proposed a final dividend of ?0.25 per Equity Share i.e. 2.50% of ?10/- (Face value) per Equity Share for the FY 2023-24 (P.Y. Nil). The same is subject approval by the Shareholders at

the ensuing Annual General Meeting, and if approved, would result in a cash outflow of approximately ?40.13 Lakhs.

Note No. 32

The Company has not received intimation from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence, disclosures relating to amount unpaid as on 31st March, 2024 together with interest paid or payable under this Act have not been given.

Note No. 33

The company does not have any derivative contracts as at 31st March, 2024.

Note No. 34

Previous Year''s figures have been regrouped/reclassified to conform to the current year''s classification Note No. 35

All amounts are disclosed in the financial statements and notes in rupees lakhs and rounded off to two decimal places.

Note No. 36

Other Statutory Information

A. Title deeds of Immovable Property

The title deeds of all the immovable properties, disclosed in the financial statements included in Property, Plant and Equipment (Note 3) are held in the name of the Company as at the balance sheet date.

B. Loans or advances in the nature of loans are granted to promoters, directors, KMPs and the related parties

There is no Loan/Advance to Promoters, Directors, KMP and the related Parties.

C. Details of Benami Property held

There have been no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) and Act, 1988 (45 of 1988) and rules made thereunder.

D. Borrowings from banks or financial institutions on the basis of security of Current Assets

The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was obtained

E. Wilful Defaulter

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

F. Relationship with Struck off Companies

The Company has not entered into any transactions with the companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

G. Registration of charges or satisfaction with Registrar of Companies (ROC)

Registration of Charges or Satisfaction with the registrar of Companies {ROC} done within the statutory period.

H. Compliance with number of layers of Companies

The Company has no subsidiaries or investments in other companies, accordingly compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, are not applicable.

I. Compliance with approved Scheme(s) of Arrangements

There are no Scheme of Arrangements approved by the Competent Authority in terms of section 230 to 237 of the Act.

J. 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 persons 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 on behalf of the ultimate beneficiaries.

K. 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 persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or

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

L. A search & seizure operation was carried out by the Income Tax Department on the Company on 6th March 2024. However, the Company has not surrendered or disclosed any income to the Income Tax Department in relation to the said search and seizure. Accordingly, the Company has not recorded any such transactions in the books of accounts during the year.

M. Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

As per our report on even date

For J K S S & Associates For and on behalf of the Board of Directors

Formerly known as J K Sarawgi & Company)

Chartered Accountants FRN: 006836C

FCA Jeet Agarwal

Part_ner Ankush Bakshi Anuj Bakshi

M. N_o. 064038 Managing Director Executive Director & CFO

UDIN: 24064038BKADCL7751 DIN: 02547254 DIN: 02500120

Place: Kolkata Date: 29^th May, 2024