అకౌంట్స్ గమనికలుRulka Electricals Ltd.

Mar 31, 2025

b. Terms/rights attached to equity shares

(i) The company has issued 8,42,400 Shares on 22nd May, 2024 through Initital Public Offering @Rs. 235/- including share premium of Rs. 225/- aggregating to Rs. 19.80 Crore.

(ii) The company has only one class of equity shares having a par value Face Value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

(iii) 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 hy the shareholders.

(iv) As of year end and previous year end promoters does not have any entity which falls under definition of Holding company .Ultimate Holding company, Subsidiary of Holding company/ultimate Holding company, Associates of Holding or Ultimate Holding. The company do not have any such entity which falls in Holding, Subsidiary, Associates, Ultimate Holding company.

Mortagage Following assets against Overdraft facility by ICICI Bank as follow-

GALA A-20- Bhandup -Shiva Industrial Estate cooperative society Ltd, Lake road, Near TATA power Bhandup, Mumbai.

GALA B 108- Bhandup -Shiva Industrial Estate cooperative society Ltd, Lake road, Near TATA power Bhandup, Mumbai.

A-1002, Amber Prit CHS, Kachore village, 90ft road, Thakurli East, Thane, Maharashtra.

Flat No. 1305- A wing, Arunodhay Towers Co-op HSG LTD- SPS road, Konkan nagar, Bhandup, Mumbai, Maharashtra.

3. MSME Loan -ICICI Bank-(Sanction limit Rs 2270.00) Rate of Interest 9.25% ,36 monthly installment of Rs. 147.00

The Facility herein shall, rank second charge with the Other Facility in terms of cash flows (including repayment) and shall be secured by (i) extension of second ranking charge over all the existing securities (including mortgage) created in favour of the ICICI Bank for the Other Facility; and (ii) charge to be created on the assets created under the Facility

4. MSME Loan -ICICI Bank-(Sanction limit Rs 5292) Rate of Interest 9.25%, 40 monthly installment of Rs.71.00

The Facility together with Interest, Additional Interest, liquidated damages, cost, charges, expenses and all other monies shall be secured on the following-

GALA A-20, Shiva Industrial estat & GALA-B-108, Shiva Industrial Estate co-op society Ltd

MSME (working Capital-Cash Credit loan) -9.25%- ICICI Bank- Sanction limit- Rs 5292 & Rs 2270 both loan of MSME are working capital loan.

Note: As per ECLGS, the Facility shall be secured by a second ranking charge over all the existing securities created in favour of Also all loans cover Perosnal Guarantee of Directors-Rupesh Kasavakar, Nitin Aher, Preeti Aher

28 The Company did not have any material transactions with companies struck-off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the financial year ended on March 31,2025.

29 The Company has not been declared wilful defaulter by any Banks or any other Financial Institution at any time during the FY 24-25.

30 There is no contingent liabilities as on the end of year except outstanding Bank guarantee of Rs. 3577.68 Thousand against Fixed Deposits as margin, TDS defaults as on year end is of Rs of Rs. 63.00 Thousand and Income Tax outstanding demand (A.Y.2019-20) of Rs. 218.00 Thousand.

31 The title deeds of all immovable properties are held in the name of the Company. Accordingly, there are no Immovable Properties which were not held in name of the Company as on 31st March, 2025.

32 The Company had Rs 90530.24 of unbilled revenue related to the on-going project as at March 31, 2025. The revenue recognized by the Company includes an estimate of work done by Company on respective projects but certification of work by Customer is pending and therefore not billed to respective customers. The estimate is derived from unbilled work done at customers site and is based on material and labour consumed in such unbilled work. Management applies judgment to the measurement and value of the estimated consumption. Unbilled Revenue estimates is prepared basis of cost incurred by respective project manager and approved by management those charged with Governance.

34 Disclosure with regard to stock and book debt statement/Retums submitted to working capital lender vis-a-vis books of accounts is enclosed in Annexure A.

35 Balances of Trade Receivables, Trade Payables, Borrowings and Loans & Advances and Deposits are subject to confirmation.

36 During the year ended March 31, 2025 there is no proceeding initated or pending against the company for holding any Benami Property as per the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, therfore no disclosure as required by schedule III is given.

37 During the year ended March 31,2025, the Company has not been declared as willful defaulter.

38 Various Financial Ratio, alongwith details of Numerator and denominator etc, and the reason for deviation more than 25% for the current year and as compared to previous year has been disclosed in Annexure B attached

39 The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC) beyond the statutory period.

40 Interest on loans and advances are accounted on mercantile basis, However company do not charge Interest on loan given to employees as per its HR Policy. Related party transaction is as per the attachment

41 Related party and transactions with them has been disclosed in Annexure C attached

42 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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 to or on behalf of the Ultimate Beneficiaries

43 The Company has not received any funds from any person(s) or entily(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 to or on behalf of the Ultimate Beneficiaries.

44 The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or 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)

45 Additional liabilities, if any, arising pursuant to respective assessment year under various fiscal statutes, shall be accounted for in the year of assessment

46 DISCLOSURES AS REQUIRED BY ACCOUNTING STANDARD (AS) 15 EMPLOYEE BENEFITS (REVISED)

a. Defined Contribution Plan:

The Company has certain defined contribution plans viz. provident fund, ESIC. Contributions are made to provident fund in India.

for employees at the specific rate of basic salary as per regulations. The contributions are made to registered provident fund administered by the government The obligation of the Company is limited to the amount contributed and it has no further contractual nor any constructive obligation.

An amount of Rs 1350.36 Thousand (P.Y.859.02 Thousand] is recognised as an Employer PF expenses and included in employee benefit expense in Financial Statement of Profit and Loss account for the FY 2024-25.

An amount of Rs 111.43 Thousand [P.Y. 84.360 Thousand] is recognised as an Employer ESIC expenses and included in

employee benefit expense in Financial Statement of Profit and Loss account for the FY 2024-25.

b. Defined Benefit Plan

The Gratuity scheme is a final salary defined benefit plan that provides for a lump sum payment made on exit either by way of retirement, death, disability or voluntary withdrawal. The benefits are defined on the basis of final salary and the period of service and paid as lump sum at exit Benefits provided under this plan is as per the requirement of the Payment of Gratuity Act, 1972. The scheme is unfunded.

During the FY 2024-25, Company has made the provision of Gratuity and Leave encashment as per Projected Unit CostfPUC] method and as per AS-15(revised] "Employee Benefits” of the report certified by actuary. For disclosure about

the gratuity and leave encashment, Refer Anneuxre D attached

47 Director Personal Expenses

There are no direct personal expenses debited to the profit and loss account However, personal expenditure if included in

expenses like telephone, vehicle expenses etc. are not identifiable or separable.

48 Figures have been rounded off to the multiple of thousands. Previous year''s figures have been regrouped, recast and rearranged wherever necessary to make them comparable with the current period figures.

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Mar 31, 2024

29 The Company did not have any material transactions with companies struck-off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the financial period ended on March 31, 2024.

30 The Company evaluated the carrying amounts of property, plant and equipment, investments, inventories, loans and advances, receivables and other current assets. In developing the assumptions relating to the possible future uncertainties, the Company, as at the date of approval of these Audited financials has used internal and external sources on the expected future performance of the Company and management expects the carrying amount of these assets will be recovered and sufficient liquidity is available to fund the business operations for at least another 12 months. Due to any unforseen circumstances the final impact on the Company’s assets in future may differ from that estimates as at the date of approval of these Audited Financials.

31 There is no contingent liabilities as on the end of year except outstanding Bank guarantee of Rs.8416.88 against Fixed Deposits as margin, TDS defaults as on year end is of Rs of Rs. 63.00 and Income Tax outstanding demand (A.Y.2019-20) of Rs. 218.00

32 a) During the FY 2023-24 In the process of public issue, Rs 2885.81 the restatement effect of Depreciation till 31st March 2023 on GALA owned by Company- GALA ''A''-20 & ''B''-108 which were not calculated and charged to Statement of Profit and Loss, has been adjusted with and disclosed in Reserves and Surplus.

b) During the FY 2023-24 In the process of public issue, Rs 3104.46 the restatement effect of Gratuity and leave encashment provision till 31st March 2023 which were not charged to Statement of Profit and Loss, has been adjusted with and disclosed in Reserves and Surplus.

33 The Company had Rs 93073.87 of unbilled revenue related to the on-going project as at March 31, 2024. The revenue recognized by the Company includes an estimate of work done by Company on respective projects but certification of work by Customer is pending and therefore not billed to respective customers. The estimate is derived from unbilled work done at customers site and is based on material and labour consumed in such unbilled work. Management applies judgment to the measurement and value of the estimated consumption. Unbilled Revenue estimates is prepared basis of cost incurred by respective project manager and approved by management those charged with Governance.

34 Micro, Small and Medium Enterprises Development Act, 2006

The Company is in the process of compiling information from its suppliers regarding their status under the above act and hence disclosure, if any, of the amount unpaid as at the year-end together with the interest paid/payable as required has been given to the extent information available :-

35 Disclosure with regard to stock and book debt statement/Returns submitted to working capital lender vis-a-vis books of accounts is enclosed in Annexure A

36 There is no capital work in progress as on the end of year, therfore no disclosure as required by schedule III is given.

37 During the year ended March 31,2024 there is no proceeding initated or pending against the company for holding any Benami Property as per the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, therfore no disclosure as required by schedule III is given.

38 During the year ended March 31, 2024, the Company has not been declared as willful defaulter.

39 Various Financial Ratio, alongwith details of Numerator and denominator etc, and the reason for deviation more than 25% for the current year and as compared to previous year has been disclosed in Annexure B attached

40 The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC) beyond the statutory period.

41 Interest on loans and advances are accounted on mercantile basis, However company do not charge Interest on loan given to employees as per its HR Policy. Related party transaction is as per the attachment.

42 Related party and transactions with them has been disclosed in Annexure C attached

43 The company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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 to or on behalf of the Ultimate Beneficiaries

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

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 to or on behalf of the Ultimate Beneficiaries.

45 The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or 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)

46 Additional liabilities, if any, arising pursuant to respective assessment year under various fiscal statutes, shall be accounted for in the year of assessment.

47 During the FY 2023-24, Company has made the provision of Gratuity and leave encashment as per the report certified by

actuary. For disclosure about the gratuity and leave encashment, Refer Anneuxre D attached

48 Figures have been rounded off to the multiple of thousands. Previous year’s figures have been regrouped, recast and rearranged wherever necessary to make them comparable with the current period figures.