అకౌంట్స్ గమనికలుShamrock Industrial Company Ltd.

Mar 31, 2025

(R) Provisions and Contingent Liabilities

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an
outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent
liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.

(S) Operating Cycle

Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their
realization in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of
classification of its assets and liabilities as current and non-current.

(T) Financial Instruments
(I) Financial Assets

i. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities, which are not at fair value through profit or loss,
are adjusted to the fair value on initial recognition. Purchase and sale of financial assets are recognised using trade
date accounting.

ii. Subsequent measurement

(a) Financial assets carried at amortised cost (AC): A financial asset is measured at amortised cost if it is
held within a business model whose objective is to hold the asset in order to collect contractual cash flows and
the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

(b) Financial assets at fair value through other comprehensive income (FVTOCI): A financial asset is
measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting
contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

(c) Financial assets at fair value through profit or loss (FVTPL): A financial asset which is not classified in
any of the above categories are measured at FVTPL.

iii. Impairment of financial assets

In accordance with Ind AS 109, the Company uses ‘Expected Credit Loss’ (ECL) model, for evaluating impairment of
financial assets other than those measured at fair value through profit and loss (FVTPL).

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

For trade receivables Company applies ‘simplified approach’ which requires expected lifetime losses to be
recognised from initial recognition of the receivables. The Company uses historical default rates to determine
impairment loss on the portfolio of trade receivables. At every reporting date these historical default rates are
reviewed and changes in the forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

(II) Financial Liabilities

i. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of
recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

ii. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables
maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short
maturity of these instruments.

22. FIRST TIME ADOPTION OF IND AS

The Company has adopted Ind AS with effect from 1st April 2017 with comparatives being restated. Accordingly the impact of
transition has been provided in the Opening Reserves as at 1st April 2016. The figures for the previous period have been
restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

Explanation 1 - Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from
previous GAAP to Ind AS.

(I) Ind AS Optional exemptions

Deemed Cost - Property, Plant and Equipment and Intangible Assets

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment
as recognized in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that
as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This
exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets. Accordingly, the Company has elected
to measure all of its property, plant and equipment and intangible assets at their previous GAAP carrying values.

(II) Ind AS mandatory exemptions

(i) Estimates

An entity''s estimates in accordance with Ind AS'' at the date of transition to Ind AS shall be consistent with the estimates made
for the same date in accordance with the previous GAAP (after adjustments to reflect any difference in accounting policies)
unless there is an objective evidence that those estimates were in error.

(ii) Classification and measurement of financial assets (other than equity instruments)

Ind AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and
circumstances that exists at the date of transition to Ind AS.

(iii) De-recognition of financial assets and financial liabilities

Ind AS 101 requires a first time adopter to apply the de-recognition provisions for Ind AS 109 prospectively for transactions
occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows first time adopter to apply the DE recognition
requirements provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities
derecognized as a result of past Ind AS 101 retrospectively from the date of entity''s choosing, transactions was obtained at the
time of initially accounting for the transactions.

(v) Details of Benami Property held

Where any proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, the company shall disclose the following:
N.A

a) Details of such property, including year of acquisition,

b) Amount thereof,

c) Details of Beneficiaries,

d) If property is in the books, then reference to the item in the Balance Sheet,

e) If property is not in the books, then the fact shall be stated with reasons,

f) Where there are proceedings against the company under this law as an a better of the transaction or as the transferor
then the details shall be provided,

g) Nature of proceedings, status of same and company’s view on same.

(vi) Where the Company has borrowings from banks or financial institutions on the basis of security of current assets, it
shall disclose the following: N.A.

a) Whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions
are in agreement with the books of accounts.

b) If not, summary of reconciliation and reasons of material discrepancies, if any to be adequately disclosed.

(vii) Willful Defaulter¹

Where a company is a declared willful defaulter by any bank or financial Institution or other lender, following details
shall be given: NO

a) Date of declaration as willful defaulter,

b) Details of defaults (amount and nature of defaults),

(x) Compliance with number of layers of companies

Where the company has not complied 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, the name and CIN of the companies beyond the
specified layers and the relationship/extent of holding of the company in such downstream companies shall be
disclosed: NO

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

Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of
the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of Arrangements have been
accounted for in the books of account of the Company ‘in accordance with the Scheme’ and ‘in accordance with
accounting standards’ and deviation in this regard shall be explained: NO

(xii) Utilization of Borrowed funds and share premium: NO

(a) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall

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;

The company shall disclose the following:-

i. Date and amount of fund advanced or loaned or invested in Intermediaries with complete details of each
Intermediary.

ii. Date and amount of fund further advanced or loaned or invested by such Intermediaries to other
intermediaries or Ultimate Beneficiaries along with complete details of the ultimate beneficiaries.

iii. Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries

iv. Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and
Companies Act has been complied with for such transactions and the transactions are not violative of the
Prevention of Money-Laundering act, 2002 (15 of 2003).;

(b) Where a company has 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, the company shall disclose
the following:-

(i) Date and amount of fund received from Funding parties with complete details of each Funding party.

(ii) Date and amount of fund further advanced or loaned or invested other intermediaries or Ultimate
Beneficiaries along with complete details of the other intermediaries’ or ultimate beneficiaries.

(iii) Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries

(iv) Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and
Companies Act has been complied with for such transactions and the transactions are not violative of the
Prevention of Money-Laundering act, 2002 (15 of 2003)

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

25. Provisions of section 135 of the Companies Act, 2013 are not applicable to the Company for the financial year 2024-25.

26. The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation as
per the schedule III of Companies Act, 2013.

As per our report of even date attached For Shamrock Industrial Company Limited

For Devpura Navlakha & Co.,

Chartered Accountants

FRN: 130349W Sd/- Sd/-

Jitesh R. Khokhani Kamlesh R. Khokhani

(WTD & CFO) (Director)

Sd/- DIN: 00611815 DIN: 00322223

CA Satyendra Lahoti

(Partner)

Mem No. 135975 Sd/- Sd/-

UDIN: 25135975BMKWLO6795 Dinesh Tiwari Khushboo Gulati

Place: Mumbai (Independent Director) (Company Secretary)

Dated: 29^th May, 2025 DIN: 09566988 ACS: 42502

1

“Willful defaulter” here means a person or an issuer who or which is categorized as a willful defaulter by any bank or
financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on willful
defaulters issued.

---

Mar 31, 2024

(R) Provisions and Contingent Liabilities

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an
outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent
liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.

(S) Operating Cycle

Based on the nature of products/activities of the Company and the normal time between acquisition of assets and their
realization in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of
classification of its assets and liabilities as current and non-current.

(T) Financial Instruments

(I) Financial Assets

i. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities, which are not at fair value through profit or loss,
are adjusted to the fair value on initial recognition. Purchase and sale of financial assets are recognised using trade
date accounting.

ii. Subsequent measurement

(a) Financial assets carried at amortised cost (AC): A financial asset is measured at amortised cost if it is held
within a business model whose objective is to hold the asset in order to collect contractual cash flows and the
contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

(b) Financial assets at fair value through other comprehensive income (FVTOCI): A financial asset is
measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual
cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

(c) Financial assets at fair value through profit or loss (FVTPL): A financial asset which is not classified in
any of the above categories are measured at FVTPL.

iii. Impairment of financial assets

In accordance with Ind AS 109, the Company uses ‘Expected Credit Loss’ (ECL) model, for evaluating impairment of
financial assets other than those measured at fair value through profit and loss (FVTPL).

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

For trade receivables Company applies ‘simplified approach’ which requires expected lifetime losses to be recognised
from initial recognition of the receivables. The Company uses historical default rates to determine impairment loss on
the portfolio of trade receivables. At every reporting date these historical default rates are reviewed and changes in the
forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

(II) Financial Liabilities

i. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of
recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

ii. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables
maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short
maturity of these instruments.

Accounting classification and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels
in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at
fair value if the carrying amount is a reasonable approximation of fair value.

25. FIRST TIME ADOPTION OF IND AS

The Company has adopted Ind AS with effect from 1st April 2017 with comparatives being restated. Accordingly the impact of
transition has been provided in the Opening Reserves as at 1st April 2016. The figures for the previous period have been
restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

Explanation 1 - Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from
previous GAAP to Ind AS.

(I) Ind AS Optional exemptions

Deemed Cost - Property, Plant and Equipment and Intangible Assets

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment
as recognized in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that
as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This
exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets. Accordingly, the Company has elected
to measure all of its property, plant and equipment and intangible assets at their previous GAAP carrying values.

(II) Ind AS mandatory exemptions

(i) Estimates

An entity''s estimates in accordance with Ind AS'' at the date of transition to Ind AS shall be consistent with the estimates made
for the same date in accordance with the previous GAAP (after adjustments to reflect any difference in accounting policies)
unless there is an objective evidence that those estimates were in error.

(ii) Classification and measurement of financial assets (other than equity instruments)

Ind AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and
circumstances that exists at the date of transition to Ind AS.

(iii) De-recognition of financial assets and financial liabilities

Ind AS 101 requires a first time adopter to apply the de-recognition provisions for Ind AS 109 prospectively for transactions
occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows first time adopter to apply the DE recognition
requirements provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities
derecognized as a result of past Ind AS 101 retrospectively from the date of entity''s choosing, transactions was obtained at the
time of initially accounting for the transactions.

(ii) Where the Company has revalued its Property, Plant and Equipment, the company shall disclose as to whether the
revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers
and Valuation) Rules, 2017: No

(iii) Following disclosures shall be made where Loans or Advances in the nature of loans are granted to promoters, directors,
KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person,
that are:

(v) Details of Benami Property held

Where any proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, the company shall disclose the following:
N.A

a) Details of such property, including year of acquisition,

b) Amount thereof,

c) Details of Beneficiaries,

d) If property is in the books, then reference to the item in the Balance Sheet,

e) If property is not in the books, then the fact shall be stated with reasons,

f) Where there are proceedings against the company under this law as an a better of the transaction or as the transferor
then the details shall be provided,

g) Nature of proceedings, status of same and company’s view on same.

(vi) Where the Company has borrowings from banks or financial institutions on the basis of security of current assets, it
shall disclose the following: N.A.

a) Whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions
are in agreement with the books of accounts.

b) If not, summary of reconciliation and reasons of material discrepancies, if any to be adequately disclosed.

(vii) Willful Defaulter*

Where a company is a declared willful defaulter by any bank or financial Institution or other lender, following details
shall be given: NO

a) Date of declaration as willful defaulter,

b) Details of defaults (amount and nature of defaults),

* “Willful defaulter” here means a person or an issuer who or which is categorized as a willful defaulter by any bank or
financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on willful
defaulters issued.

(ix) Registration of charges or satisfaction with Registrar of Companies

Where any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period, details
and reasons thereof shall be disclosed: NO

(x) Compliance with number of layers of companies

Where the company has not complied 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, the name and CIN of the companies beyond the
specified layers and the relationship/extent of holding of the company in such downstream companies shall be
disclosed: NO

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

Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of
the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of Arrangements have been
accounted for in the books of account of the Company ‘in accordance with the Scheme’ and ‘in accordance with
accounting standards’ and deviation in this regard shall be explained: NO

(xii) Utilization of Borrowed funds and share premium: NO

(a) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall

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;

The company shall disclose the following:-

i. Date and amount of fund advanced or loaned or invested in Intermediaries with complete details of each
Intermediary.

ii. Date and amount of fund further advanced or loaned or invested by such Intermediaries to other
intermediaries or Ultimate Beneficiaries along with complete details of the ultimate beneficiaries.

iii. Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries

iv. Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and
Companies Act has been complied with for such transactions and the transactions are not violative of the
Prevention of Money-Laundering act, 2002 (15 of 2003).;

(b) Where a company has 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, the company shall disclose
the following:-

(i) Date and amount of fund received from Funding parties with complete details of each Funding party.

(ii) Date and amount of fund further advanced or loaned or invested other intermediaries or Ultimate
Beneficiaries along with complete details of the other intermediaries’ or ultimate beneficiaries.

(iii) Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries

(iv) Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and
Companies Act has been complied with for such transactions and the transactions are not violative of the
Prevention of Money-Laundering act, 2002 (15 of 2003)

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

28. Provisions of section 135 of the Companies Act, 2013 are not applicable to the Company for the financial year 2023-24.

29. The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation as
per the schedule III of Companies Act, 2013.

As per our report of even date attached For Shamrock Industrial Company Limited

For Devpura Navlakha & Co.,

Chartered Accountants

FRN: 130349W Sd/- Sd/-

Jitesh R. Khokhani Kamlesh R. Khokhani

(WTD & CFO) (Director)

Sd/- DIN: 00611815 DIN: 00322223

Pramod Kumar Devpura

Partner

Mem No. 033342 Sd/- Sd/-

UDIN: 24033342BJZZKC9429 Dinesh Tiwari Priyanka Rathod

Place: Mumbai (Independent Director) (Company Secretary)

Dated: 27^th May, 2024 DIN: 09566988 ACS: 42686