అకౌంట్స్ గమనికలుPervasive Commodities Ltd.

xii. Provisions and contingencies:

Provisions: A provision is recognized when the Company has a present obligation as a result of past
events and it is probable that an outflow of resources will be required to settle the obligation, in
respect of which a reliable estimate can be made. The amount recognised as a provision is the best
estimate of the consideration required to settle the present obligation at the end of the reporting
period, taking into account the risks and uncertainties surrounding the obligation. When 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 (when the effect of time value of money is material).

Contingent liabilities: Contingent liabilities are not recognized but are disclosed in notes to
accounts.

xiii. Cash and cash equivalents: Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short term balances (with an original maturity of three months or less from the date
of acquisition) and highly liquid investments that are readily convertible into known amounts of cash
and which are subject to insignificant risk of changes in value.

For the purposes of the cash flow statement, cash and cash equivalents include cash on hand, in
banks and demand deposits with banks, net of outstanding bank overdrafts that are repayable on
demand, book overdraft and are considered part of the Company’s cash management system.

xv. In the opinion of the board of Directors, Current Assets, Loans and Advances a value of realization
equivalent to the amount at which they are stated in the Balance Sheet. Adequate provisions have
been made in the accounts for all the known liabilities

xvi. Investment & Financial Assets

(a) Classification

The Group classifies its financial assets in the measurement categories:

* Those to be measured subsequently at fair value, and

* Those measured at amortised cost.

The Classification depends on the entity’s business model for managing the financial assets and the
contractual terms of the cash flows.

For assets measured at fair value, gains and losses will be recorded in profit or loss. For investment
in equity instruments, this will depend on whether group has made an irrecoverable election at the
time of initial recognition to account for the equity investment at fair value through other
comprehensive income.

(b) Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar
financial assets) is primarily derecognized (i.e. removed from the Company’s balance sheet) when:

A. The contractual rights to the cash flows from the financial asset have expired, or B. The
Company has transferred its rights to receive cash flows from the asset or has assumed an
obligation to pay the received cash flows in full without material delay to a third party under a
‘pass-through’ arrangement; and either

i) The Company has transferred substantially all the risks and rewards of the asset, or

ii) The Company has neither transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a
pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of
ownership. When it has neither transferred nor retained substantially all of the risks and rewards of
the asset, nor transferred control of the asset, the Company continues to recognize the transferred
asset to the extent of the Company’s continuing involvement. In that case, the Company also
recognizes an associated liability. The transferred asset and the associated liability are measured on a
basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at
the lower of the original carrying amount of the asset and the maximum amount of consideration that
the Company could be required to repay.

(c) Impairment of financial assets

The Company assesses impairment based on expected credit loss (ECL) model to the following:

A. Financial assets measured at amortized cost B. Financial assets measured at fair value through
other comprehensive income

Expected credit losses are measured through a loss allowance at an amount equal to:

A. The 12-months expected credit losses (expected credit losses that result from those default events
on the financial instrument that are possible within 12 months after the reporting date); or

B. Full time expected credit losses (expected credit losses that result from all possible default events
over the life of the financial instrument)

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on trade
receivables. It recognizes impairment loss allowance based on lifetime ECLs at each reporting date,
right from its initial recognition. The Company uses a provision matrix to determine impairment loss
allowance for trade receivables. The provision matrix is based on its historically observed default
rates over the expected life of the trade receivable and is adjusted for forward looking estimates. At
every reporting date, the historical observed default rates are updated and changes in the forward¬
looking estimates are analyzed.

For recognition of impairment loss on other financial assets and risk exposure, the Company
determines that whether there has been a significant increase in the credit risk since initial
recognition. If credit risk has not increased significantly, 12-months ECL is used to provide for
impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a
subsequent period, credit quality of the instrument improves such that there is no longer a significant
increase in credit risk since initial recognition, then the Company reverts to recognising impairment
loss allowance based on 12-months ECL.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/
expense in the statement of profit and loss. The balance sheet presentation for various financial
instruments is described below:

A. Financial assets measured as at amortised cost and contractual revenue receivables - ECL is
presented as an allowance, i.e., as an integral part of the measurement of those assets in the
balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off
criteria, the company does not reduce impairment allowance from the gross carrying amount.

B. Financial assets measured at FVOCI - Since financial assets are already reflected at fair value,
impairment allowance is not further reduced from its value. Rather, ECL amount is presented as
accumulated impairment amount in the OCI.

For assessing increase in credit risk and impairment loss, the Company combines financial
instruments on the basis of shared credit risk characteristics with the objective of facilitating an

analysis that is designed to enable significant increases in credit risk to be identified on a timely
basis.

Financial Liabilities

a) Initial recognition and measurement

All financial liabilities are recognised initially at fair value and, in case of loans and borrowings and
payables, net of directly attributable transaction costs.

Subsequently, all financial liabilities are measured at amortised cost or at fair value through profit or
loss. The Company’s financial liabilities include trade and other payables, loan and borrowings
including bank overdrafts.

b) Subsequent measurement

A. Financial liabilities measured at amortised cost

B. Financial liabilities subsequently measured at fair value through profit or loss Financial liabilities
at fair value through profit or loss include financial liabilities held for trading and financial
liabilities Financial liabilities designated upon initial recognition at fair value through profit or
loss are designated as such at the initial date of recognition, and only if the criteria in Ind AS 109
are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes
in own credit risk are recognized in OCI. These gains/ losses are not subsequently transferred to
profit or loss. However, the Company may transfer the cumulative gain or loss within equity. All
other changes in fair value of such liability are recognised in the statement of profit or loss. The
Company has not designated any financial liability as at fair value through profit or loss.

c) Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. When an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as the derecognition of the original liability
and the recognition of a new liability. The difference in the respective carrying amounts is
recognized in the statement of profit or loss.

xvii. Fair Value

The Company measures certain financial instruments at fair value at each balance sheet date. The
fair value measurement is based on the presumption that the transaction to sell the asset or transfer
the liability takes place either:

A. In the principal market for the asset or liability, or

B. In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company. The fair value of
an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their best economic interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which
sufficient data are available to measure fair value, maximizing the use of relevant observable inputs
and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are
categorized within the fair value hierarchy, described as under, based on the lowest level input that is
significant to the fair value measurement as a whole:

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

B. Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable.

C. Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable.

For assets and liabilities that are recognized in the financial statements on a recurring basis, the
Company determines whether transfers have occurred between levels in the hierarchy by re¬
assessing categorization (based on the lowest level input that is significant to the fair value
measurement as a whole) at the end of each reporting period.

This note summarizes the accounting policy for fair value. Other fair value related disclosures are
given in the relevant notes.

xix. As certified by the company that it was received written representation from all the directors, that
companies in which they are directors had not defaulted in terms of section 164(2) of the companies
Act, 2013, and the representation from directors taken in Board that Director is disqualified from
being appointed as Director of the company.

xx. Earnings per share (EPS):

Basic earnings per share are computed using the weighted average number of equity shares
outstanding during the period. Diluted EPS is computed by dividing the profit or loss attributable to
ordinary equity holders by the weighted average number of equity shares considered for deriving
basic EPS and also weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed
converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity
shares are determined independently for each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for bonus shares, as appropriate.

Contributed Equity

Equity shares are classified as equity.

(a) Earnings per Share

Basic earnings per share is calculated by dividing:

-the profit attributable to the owners group

-by the weighted average number of equities shares outstanding during the year.

(b) Rounding off amounts

All amounts disclosed in the financial statements and notes have been rounded off to the
nearest lacs as per the requirement of Schedule III, unless otherwise stated.

xxi. Related Party Disclosure:

List of related parties where control exists and also related parties with whom transactions have
taken place and relationships, has been disclosed in Note 35 to the Notes to Accounts.

xxii. Other Note:

1. As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014, for the financial year commencing April 1, 2024, every company which
uses accounting software for maintaining its books of account, shall use only such accounting
software which has a feature of recording audit trail of each and every transaction, creating an edit
log of each change made in the books of account along with the date when such changes were made
and ensuring that the audit trail cannot be disabled. The interpretation and guidance on what level
edit log and audit trail needs to be maintained evolved during the year and continues to evolve.

In the company, the accounting software has a feature of audit trail, but it was disable at an
application level for maintenance of books of accounts and relevant transactions. However, the
global standard ERP used by the Company has not been enabled with the feature of audit trail log at
the database layer to log direct transactional changes, due to present design of ERP. This is being
taken up with the vendor. In the meanwhile, the Company continues to ensure that direct write
access to the database is granted only via an approved change management process.

2. The Company has adopted a Code of Conduct and established internal controls in accordance with
the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time, to
regulate, monitor and report trading activities of Designated Persons and their Immediate Relatives.
The Company has implemented adequate procedures for identification, handling, communication
and protection of Unpublished Price Sensitive Information (UPSI). Access to UPSI is restricted on a
need-to-know basis to ensure its confidentiality and integrity.

The Company also maintains a Structured Digital Database and other necessary records as prescribed
under the applicable regulations and has put in place appropriate mechanisms to prevent insider
trading and unauthorized disclosure of UPSI. The Company has complied with the applicable
provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 during the year.

III Amended standard adopted by the Company

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to time.
During the year ended March 31, 2026, MCA has notified the Companies (Indian Accounting
Standards) Amendment Rules, 2025 applicable to the company w.e.f. April 1, 2025.

(i) Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-Current and Non
Current Liabilities with Covenants:

In August 2025, the MCA notified amendments to Ind AS 1 to specify the requirements for
classifying liabilities as current or non-current.

The amendments clarify:

• What is meant by a right to defer settlement

• That a right to defer must exist at the end of the reporting period

• That classification is unaffected by the likelihood that an entity will exercise its deferral right

• That only if an embedded derivative in a convertible liability is itself an equity instrument
would the terms of a liability not impact its classification.

In addition, a requirement has been introduced to require disclosure when a liability arising from a
loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on
compliance with future covenants within twelve months. If there is a breach of a material covenant
of a long term loan arrangement on or before the end of the reporting period, resulting in the liability
becoming payable on demand as at the reporting date, and the lender agrees—after the reporting
period but before the financial statements are approved for issue— not to demand repayment for at
least 12 months as a consequence of the breach, this shall be treated as an adjusting event.
Accordingly, the entity is not required to classify the liability as current. The amendments are
effective for annual reporting periods beginning on or after April 1, 2025 retrospectively in
accordance with Ind AS 8.

The amendments do not have a material impact on the Company’s financial statements.

(ii) Amendments to Ind AS 7 and Ind AS 107 - Supplier Finance Arrangements:

In August 2025, the MCA notified amendments to Ind AS 7 Statement of Cash Flows and Ind AS
107 Financial Instruments: Disclosures to clarify the characteristics of supplier finance arrangements
and require additional disclosure of such arrangements. The disclosure requirements in the
amendments are intended to assist users of financial statements in understanding the effects of
supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk.

xxiii. Allotment and Conversion of Convertible Warrants

During the previous financial year, the Company issued and allotted 9,00,00,000 (Nine Crore)
Convertible Warrants to the eligible allottees on a preferential basis. The Company received an
amount of ?5,860 Lakhs as warrant application money during the previous year, representing the
requisite upfront subscription amount.

During the current financial year, the Company received the remaining balance consideration
amounting to ?3,140 Lakhs. Consequent to the receipt of the full consideration and the exercise of
conversion rights by the allottees, the entire 9,0,00,000 Convertible Warrants have been converted
into an equivalent number of fully paid-up Equity Shares of the Company, in accordance with the
provisions of the Companies Act, 2013 and applicable SEBI regulations.

*As of the balance sheet date, there are no outstanding warrants or balance monies pending
utilization and attached details of Utilization of funds of Share Warrant Issue.

(b) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. During the year ended 31st March 2025, the Company has not declared dividend.

ii) 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.

(f) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(g) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

Note 32 Other Statutory Information

1 The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property

2 The Company does not have any charges pending satisfaction with ROC beyond the statutory period.

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

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:

4 (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.

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:

5 (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.

The Company has no such transaction which is not recorded in the books of accounts that has been surrendered or

6 disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 such as, search or survey or any other relevant provisions of the Income Tax Act, 1961,

The Company has not been declared as wilful defaulter by any bank or financial institution (as defined under the

7 Companies Act, 2013) or any other lender or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

8 The Company does not have any transactions with companies struck off, otherwise disclosed.

As per Rule 3(1) of Companies (Accounts) Rules, 2014 (as amended), the Company has used accounting software for

9 maintaining its books of account which, along with change log management, has a feature of recording audit trail (edit log) facility in terms of laid down requirements, but the same has not been operated throughout the financial year 202425, managemnet will try to opt for the edit log feature in near future.

In the opinion of the Board of Directors, current assets have a value on realization in the ordinary course of business at

10 least equal to the amount at which they are stated in the balance sheet and provisions for all known / expected liabilities have been made.

11 The figures of the previous year have been re-classified according to current year classification wherever required

1. Previous year''s figures

Particulars

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/ disclosure.

1 Corporate information

STARVOX ELECTRONICS LIMITED was established in 1986 as a public limited Company for manufacturing of (1) Switch Mode Power Supply (SMPS) Units (2) DC-DC Converters (3) Transformers & Chokes(Magnetic Pats for SMPS & DC- DC).Company is having its Registered Office and Factory at Plot No. 39, Opp. Amraiwadi Talavadi, AEC Zonal Office Road, Amraiwadi, Ahmedabad - 380 026 (Gujarat). At Present Company is manufacturing SMPS Power supplies.SMPS based Automatic Battery Chargers and other related products.

1 Corporate information

STARVOX ELECTRONICS LIMITED was established in 1986 as a public limited Company for manufacturing of (1) Switch Mode Power Supply (SMPS) Units (2) DC-DC Converters (3) Transformers & Chokes(Magnetic Pats for SMPS & DC-DC).Company is having its Registered Office and Factory at Plot No. 39, Opp. Amraiwadi Taiavadi, AEC Zonal Office Road, Amraiwadi, Ahmedabad - 380 026 (Gujarat). At Present Company is manufacturing SMPS Power supplies.SMPS based Automatic Battery Chargers and other related products.

[1] Reserves & Surplus includes Rs. 11,82,728/= received toward State Cash Subsidy on Investment in Fixed Assets. > [2] Execution of lease deed with G.I.D.C. is pending in respect of Lease Hold Land for plot B-5, GIDC Electronics Estate, Gandhinagar. The expenses will be accounted for when actually incurred.

[2] In respect of the accrued Gratuity liabilities of the Employees including the Managing Director, the Company has contributed to Employee Group Gratuity Trust Fund, which has taken Group Grattity Cum Life Insurance Policy from L.I.C.

[3] The Sales Tax Assessment of the Company is pending for,the Assessment year 2007-08.

4) Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation by the concerned parties.

5) Segment Reporting as per AS - 17 is not given, as Companys manufactured products SMPS & DC-DC Converter have similar process, usage of similar material & manpower. There is no seperate reporting for Companys different products for internal use also and hence separate identifiable segment is not available.

[6] In accordance with AS - 22 for Accounting for Taxes on Income, the Company has not considered deferred taxes during the year in view of accumulated losses & due to uncertainty of sufficient future taxable profit.

7] Previous years figures are regrouped and rearranged wherever necessary to confirm to this years classifications.

[8] Figures are rounded off to the nearest rupee.

[9] Figures in bracket are of previous year.