అకౌంట్స్ గమనికలుShanti Gold International Ltd.

l) Contingent Liability, Contingent Asset and
Provisions Contingent liability

Contingent Liability

Contingent liabilities are possible obligations that
arise from past events and whose existence will only
be confirmed by the occurrence or non-occurrence
of one or more uncertain future events not wholly
within the control of the Company. Where it is not
probable that an outflow of economic benefits will be
required, or the amount cannot be estimated reliably,
the obligation is disclosed as a contingent liability,
unless the probability of outflow of economic
benefits is remote.

Contingent assets

Contingent assets are possible assets that arise from
past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the
control of the Company.

Provisions

The Company creates a provision when there is 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 obligation.

If the effect of the time value of money is material,
provisions are determined by discounting the

expected future cash flows (representing the best
estimate of the expenditure required to settle the
present obligation at the balance sheet date) at a pre¬
tax rate that reflects current market assessments of
the time value of money and the risks specific to the
liability. The unwinding of the discount is recognized
as a financial cost.

m) Cash and cash equivalents

Cash and cash equivalents include cash on hand,
other short-term, highly liquid investments with
original maturities of three months or less that are
readily convertible to known amounts of cash, and
which are subject to an insignificant risk of changes
in value, and bank overdrafts. Bank overdrafts
are shown within borrowings in current financial
liabilities in the balance sheet.

n) Earnings per share

Basic earnings per share are calculated by dividing
the net profit or loss for the year attributable to
equity shareholders by the weighted average number
of equity shares outstanding during the period.
The weighted average number of equity shares
outstanding during the period are adjusted for events
such as bonus issues, share split or of shares.

For calculating diluted earnings per share, the net
profit or loss for the year attributable to equity
shareholders and the weighted average number of
shares outstanding during the period are adjusted for
the effects of all dilutive potential equity shares. The
dilutive potential equity shares are deemed converted
into equity shares at the beginning of the period,
unless they have been issued later.

o) Leases

Company/Entities as a lessee

The Company’s lease asset classes primarily consist
of leases for land and other assets The Company
assesses whether a contract contains a lease, at
inception of a contract. A contract is, or contains,
a lease if the contract conveys the right to control
the use of an identified asset for a period of time
in exchange for consideration. To assess whether a
contract conveys the right to control the use of an
identified asset, the Company assesses whether:

• the contract involves the use of an
identified asset.

• the Company has substantially all the economic
benefits from use of the asset through the period
of the lease and

• the Company has the right to direct the
use of the asset.

At the date of commencement of the lease, the
Company recognizes a right-of-use (ROU) asset
and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases
with a term of 12 months or less (short-term leases)
and low value leases. For these short-term and low-
value leases, the Company recognizes the lease
payments as an operating expense on a straight- line
basis over the term of the lease.

Certain lease arrangements include the option to
extend or terminate the lease before the end of the
lease term. ROU assets and lease liabilities include
these options when it is reasonably certain that they
will be exercised.

The ROU assets are initially recognized at cost,
which comprises the initial amount of the lease
liability adjusted for any lease payments made at or
prior to the commencement date of the lease plus any
initial direct costs less any lease incentives. They
are subsequently measured at cost less accumulated
depreciation and impairment losses.

ROU assets are depreciated from the commencement
date on a straight-line basis over the shorter of the
lease term and useful life of the underlying asset.
ROU assets are evaluated for recoverability whenever
events or changes in circumstances indicate that
their carrying amounts may not be recoverable. For
the purpose of impairment testing, the recoverable
amount (i.e. the higher of the fair value less cost to sell
and the value-in-use) is determined on an individual
asset basis unless the asset does not generate cash
flows that are largely independent of those from
other assets. In such cases, the recoverable amount
is determined for the Cash Generating Unit (CGU) to
which the asset belongs.

The lease liability is initially measured at amortized
cost at the present value of the future lease payments.
The lease payments are discounted using the
interest rate implicit in the lease or, if not readily
determinable, using the incremental borrowing rates
in the country of domicile of these leases. Lease
liabilities are remeasured with a corresponding
adjustment to the related ROU asset if the Company
changes its assessment of whether it will exercise an
extension or a termination option.

Lease liability and ROU assets have been separately
presented in the Balance Sheet and lease payments
have been classified as financing cash flows.

The Company/Entities as a lessor

Leases for which the Company is a lessor is classified
as a finance or operating lease. Whenever the terms
of the lease transfer substantially all the risks and
rewards of ownership to the lessee, the contract is
classified as a finance lease. All other leases are
classified as operating leases.

When the Company is an intermediate lessor, it
accounts for its interests in the head lease and the
sublease separately. The sublease is classified as a
finance or operating lease by reference to the ROU
asset arising from the head lease.

For operating leases, rental income is recognized on a
straight-line basis over the term of the relevant lease.

p) Related Party Transaction

Related parties include Entities that directly or
indirectly control or are controlled by the Company;
Key Management Personnel (KMP) and their close
family members Individuals or entities that have
significant influence over the Company Entities under
common control or those over which the Company
or its KMP has control or significant influence.

Identification of Related Party Transactions

The Company identifies related party transactions
through Declarations from Directors and KMP,
Review of contracts, agreements, and business
operations, Periodic updates from the legal and HR
departments, Maintenance of a related party register.

Recognition and Measurement

All related party transactions are recorded at arm’s
length unless otherwise specifically approved by the
Board or Audit Committee. The terms and conditions
of such transactions are reviewed to ensure they are
consistent with market practices.

q) Cash flow statement

Cash flow statement is reported using the indirect
method, whereby profit for the period is adjusted
for the effects of transactions of a non-cash nature,
any deferrals or accruals of past or future operating
cash receipts or payments and item of income or
expenses associated with investing or financing cash
flows. The cash flows from operating, investing and
financing activities of the company are segregated.

1. The company has adopted Full Retrospective approach to measure the fair value for all of its property, plant and equipment as
per IND AS 16, Property, Plant and Equipment.

2. The company has elected Ind AS 101 exemption and continues with the carrying value for all of its property, plant and
equipment as its deemed cost As on the date of transition.

3. The Company has not carried out any revaluation of property, plant and equipment for the year ended March
31,2025,April 01, 2024.

4. The title deeds, comprising all the immovable properties (other than properties where the company is the lessee and the lease
agreements are duly executed in favour of the lessee), are held in the name of the Company As on the balance sheet date.

5. There are no exchange differences adjusted in property, plant & equipment.

6. The company has adopted Full Retrospective approach to measure the fair value for all of its Right of use assets as per IND
AS 116, Leases, As on the date of transition. (Refer Note. 36)

7. There are no impairment losses recognised during the year.

As at March 31, 2026

The Company''s exposure to currency risks, liquidity risks and interest rate risks are disclosed in Note 34

*Secured loan

(i) Term loan

Yes Bank Limited

1. The Company has availed Guaranteed Emergency Credit Line facility (Sanctioned Limit H277.00 Lacs) and (Sanctioned
Limit H105.00 Lacs) from Yes Bank Ltd, which are secured against Second charge on a) property located at unit no. 6,
Ground Floor, A Wing , INS Towers , Opp. Trident Hotel , near Bharat Diamond market BKC , Bandra east Mumbai
400051 and b) Bungalow No. M 36. Mandara Sujala Bungalow. Survey No. 47H No. IC & ID . Village Tungarli Taluka
Maval, Lonavala , Pune - 410401 and Current assets financed through the additional WCTL to be created also 100%
Credit Guarantee by National Credit Guarantee trust Company Limited and also secured with personal guarantees of
Directors . The loan carries a Pricing of 3 M MLCR Plus 0.05% per Annum subject to cap of 9.25%.

(ii) Vehicle loan

Saraswat Co-operative Bank Ltd

1. The company has sanctioned vehicle Loan facility amounting to H359.47 Lacs which is secured by way of Hypothecation
of Vehicle and secured by personal guarantee of Mr Pankaj Kumar Jagawat & Manoj Kumar Jain The loan carries a fixed
rate of interest 8.30% per annum payable monthly.

2. The company has sanctioned vehicle Loan facility amounting to H100 Lacs which is secured by way of Hypothecation of
Vehicle and secured by personal guarantee of Mr Pankaj Kumar Jagawat & Manoj Kumar Jain The loan carries a fixed
rate of interest 9.50% per annum payable monthly.

HDFC Bank Ltd.

1 The company has sanctioned Vehicle loan facility amounting to H 251.75 lacs which is secured by way of hypothecation
of vehicle and secured by personal guarantee of Mr Pankaj Kumar Jagawat & Manoj Kumar Jain The loan carries a fixed
rate of interest 7.90% per annum payable monthly.

all current assets,Plant & Machinery (Excluding Vehicle) of the company both current and future Dt.13/03/25.Immovabe
Assets -1^st Pari passu charge on all immovable propeties vide Registered Mortgage deed ie 13/03/25.Gala no.12/14/15,Ravi
Industrial Estate,OffMahakali Caves Rd,Andheri E,Murnbai - 400 093.Gala no.211/212,Keytou Industrial Estate,Near
MIDC police station,Andheri E,Mumbai-400 093.4E, 5A & SB, Victoria Plaza , SV Road , Santacruz W, Mumbai 400
052.Shop no.6, A WING , Ground Floor, INS Tower, Opp Trident Hotel,NearBharat Diamond Market,BKC , Mumbai
400 051.Jaipur Land & Proposed Bldg, DTA 02-14 & DTA 02-15,Mahindra World City,Jaipur,Rajashthan 302037.
Bungalow no M36, Mandara,Sajala Bungalow, Survey no.47 H NO.IC & lD ,Village Tungalri,Taluka Maval,Lonavala,
Pune Maharashtra. 41040 I.

2. The company has availed Overdraft facility Sublimit to cash credit facility from Saraswat Bank Ltd (Sanctioned Limit
H2450.00 Lacs and Rulling limit is 7034 lakhs), which are Secured against first pari-passu charge by way of Hypothecation
of entire current assets, plant and machinery (excluding vehicle) & Exclusive charge by way of equitable mortgage on
residential property located at Bungalow No M 36, Mandara Sujala Bungalow, Survey No 47H No 1C and 1D, Village
Tungarli, Taluka Maval, Lonavala, Pune - 410401 & equitable mortgage on commercial property located at Unit No 6,
Ground Floor, A wing, INS Towers, Opp Trident Hotel, near Bharat Diamond Market, BKC, Bandra East, Mumbai -
400051, 100% guaranteed by National Credit Guarantee Trustee Company Ltd.. The loan carries a floating rate of interest
of 5.75% per annum subject to minimum @8.25% Per annum .

HDFC Bank Limited

1. The company has availed Working Capital facility from HDFC Bank Ltd of 5000.00 Lacs(Sublimits WCDL- 4400.00
Lacs ) ,which are Secured against Personal Guarantee - PG of all Directors. i.e PG of Pankajkumar Hastimal Jagawat and
Manojkurnar Nemichand Jain. Dt.13/03/25.Current Assets - lst Pari Passu charge on all current assets,Plant & Machinery
(Excluding Vehicle) of the company both current and future Dt.13/03/25.Immovabe Assets -1^st Pari passu charge on all
immovable propeties vide Registered Mortgage deed ie 13/03/25.Gala no.12/14/15,Ravi Industrial Estate,OffMahakali
Caves Rd,Andheri E,Murnbai - 400 093.Gala no.211/212,Keytou Industrial Estate,Near MIDC police station,Andheri
E,Mumbai-400 093.4E, 5A & SB, Victoria Plaza , SV Road , Santacruz W, Mumbai 400 052.Shop no.6, A WING , Ground
Floor, INS Tower, Opp Trident Hotel,NearBharat Diamond Market,BKC , Mumbai 400 051.Jaipur Land & Proposed
Bldg, DTA 02-14 & DTA 02-15,Mahindra World City,Jaipur,Rajashthan 302037.Bungalow no M36, Mandara,Sajala
Bungalow, Survey no.47 H NO.IC & lD ,Village Tungalri,Taluka Maval,Lonavala, Pune Maharashtra. 410401.

YES Bank Limited

1. The company has availed Working Capital facility from Yes Bank Ltd of 4650.00 Lacs(Sublimits BG- 500.00 Lacs,
SBLC 1600.00 Lacs) ,which are Secured against Personal Guarantee - PG of all Directors. i.e PG of Pankajkumar
Hastimal Jagawat and Manojkurnar Nemichand Jain. Dt.13/03/25.Current Assets - lst Pari Passu charge on all current
assets,Plant & Machinery (Excluding Vehicle) of the company both current and future Dt.13/03/25.Immovabe Assets
-1^st Pari passu charge on all immovable propeties vide Registered Mortgage deed ie 13/03/25.Gala no.12/14/15,Ravi
Industria Estate,OffMahakali Caves Rd,Andheri E,Murnbai - 400 093.Gala no.211/212,Keytou Industrial Estate,Near
MIDC police station,Andheri E,Mumbai-400 093.4E, 5A & SB, Victoria Plaza , SV Road , Santacruz W, Mumbai 400
052.Shop no.6, A WING , Ground Floor, INS Tower, Opp Trident Hotel,NearBharat Diamond Market,BKC , Mumbai
400 051.Jaipur Land & Proposed Bldg, DTA 02-14 & DTA 02-15,Mahindra World City,Jaipur,Rajashthan 302037.
Bungalow no M36, Mandara,Sajala Bungalow, Survey no.47 H NO.IC & lD ,Village Tungalri,Taluka Maval,Lonavala,
Pune Maharashtra. 410401.

Steps have been taken to identify the suppliers who qualify under the definition of micro and small enterprises, as defined under the
Micro, Small and Medium Enterprises Development Act 2006. Since no intimation has been received from the suppliers regarding
their status under the said Act As on 31^st March 2026, disclosures relating to amounts unpaid As on the year end, if any, have
not been furnished. In the opinion of the management, the impact of interest, if any, that may be payable in accordance with the
provisions of the Act, is not expected to be material.

Note-26:- Change in Accounting Policies

The Board of Directors of Shanti Gold International Limited (‘the Company’), at its meeting held today, i.e. May 11, 2026, upon
recommendation of the Audit Committee, has considered and approved a voluntary change in the accounting policy for inventory
valuation from the First-In-First-Out (FIFO) method to the Weighted Average Cost (WAC) method. The adoption of the WAC
method is expected to better reflect the blended cost of inventories, improve cost and revenue matching, and align the Company’s
practices with prevailing industry norms. The change will be applied retrospectively with effect from April 01, 2024, as mandated
under Ind AS 8.

Note - 30 Investment Property

The Company’s investment properties consist of six properties in form of Industrial Gala and office premises located in India. The
company have valued its investment property under cost model.

Recognition Criteria:

Investment property is land or a building (including part of a building) or both that is:

- Held to earn rental income and/or capital appreciation.

- Not for use in production/supply of goods/services or administrative purposes.

- Not held for sale in ordinary course of business

As per provisions of section 135 of the Companies Act, 2013, the company has to incur at least 2% of average net profits of the
preceding three financial years towards Corporate Social Responsibility (“CSR”). Accordingly, a CSR committee has been formed
for carrying out CSR activities as per the Schedule VII of the Companies Act, 2013.

The Company has contributed a sum of H 93.00 Lakh (March 31, 2025: H 50.17 Lakh) towards this cause and charged the same to
the Statement of Profit And Loss.

Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values.

Fair value of the cash and short term deposits, trade and other short term receivables, trade payables, other current liabilities, short
term loans from banks and other financial instruments approximate their carrying amounts largely due to short term maturities of
these instruments.

Valuation techniques used to determine fair value

a) Investments included in Level 1 of fair value hierarchy are based on prices quoted in stock exchange and/ or NAV
declared by the funds.

b) Investments included in Level 2 of fair value hierarchy have been valued based on inputs from banks and other recognised
institutions such as FIMMDA/ FEDAI"

c) Investments included in Level 3 of fair value hierarchy have been valued using acceptable valuation techniques such as Net
Asset Value and/ or Discounted Cash Flow Method."

Note : All financial instruments for which fair value is recognised or disclosed are categorised within the Fair ValueHierarchy
described as above, based on the lowest level input that is significant to the fair value measurement as a whole.

The carrying amounts of loans, trade receivables, cash and cash equivalents, other bank balances, other financial assets, non¬
current and current borrowings, trade payables and other financial liabilities that are measured at amortised cost are considered
to be approximately equal to the fair value due to short-term maturities of these financial assets/ liabilities.

Note - 35 Financial Risk Management

The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The Company’s
financial risk management policy is set by the Managing Board. The Company is exposed to market risk - foreign currency and
interest rate, credit risk and liquidity risk.

A) Market Risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will
affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management
is to manage and control market risk exposures within acceptable parameters, while optimising the return. The sensitivity
analysis excludes the impact of movements in market variables on the carrying value of post-employment benefit obligations
provisions and on the non-financial assets and liabilities. The sensitivity of the relevant profit and loss item is the effect of the
assumed changes in respective market risks.

a) Interest rate risk

Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. In order to optimize Company’s position with regard to interest income and interest
expenses and manage the interest rate risk, treasury performs a comprehensive corporate interest rate risk management
by balancing the proportion of fixed rate and floating rate financial instrument in its total portfolio

b) Interest rate sensitivity analysis:

The sensitivity analyses below have been determined based on the exposure to interest rates for non derivative instruments
at the reporting date. For floating rate borrowings, The impact on the Group’s profit if interest rates had been 50 basis
points higher/lower and all other variables were held constant:

c) Foreign currency risk

The company undertakes the transaction dominated in foreign currency, exposure to fluctuation rate arise. The company’
exposure risk relates to primarily relates to company’s operating activities when transaction are dominated in a different
currency from company’s functional currency.

d) Sensitive analysis of 5% change in exchange rate at the year end

Foreign exchange risk sensitivity analysis has been performed on the foreign currency exposures in the Company''s
financial assets and financial Liabilities at the reporting date. Reasonably possible changes are based on an analysis of
historic currency volatility, together with any relevant assumptions regarding near-term future volatility.

B) Credit Risk

Credit risk arises from the possibility that counter party may not be able to settle their obligations as agreed. To manage
this, the Company periodically assesses the financial reliability of customers, taking into account the financial condition,
current economic trends, and analysis of historical bad debts and ageing of accounts receivable. Individual risk limits are
set accordingly.

a) Trade Receivables

The Company extends credit to customers in normal course of business. The Company considers factors such as credit
track record in the market and past dealings for extension of credit to customers. The Company monitors the payment
track record of the customers. Outstanding customer receivables are regularly monitored. The Company evaluates the
concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and
industries and operate in largely independent markets. The Company has also taken advances and security deposits from
some of its customers, which mitigate the credit risk to an extent.

b) Financial instruments and cash deposits

The Company considers factors such as track record, size of the institution, market reputation, financial strength / rating
and service standards to select the banks with which balances and deposits are maintained. Generally, the balances are
maintained with the institutions with which the Company has also availed borrowings.

C) Liquidity risk

a) Liquidity risk is defined as the risk that the company will not be able to settle or meet its obligations on time or at
a reasonable price. The Company’s treasury department is responsible for liquidity, funding as well as settlement. In
addition, processes and policies related to such risks are overseen by senior management. Management monitors the
Company’s net liquidity position through rolling forecasts on the basis of expected cash flows.

b) Exposure to liquidity risk

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting
date based on the contractual undiscounted payments.

D) Capital Management

For the purpose of the Company’s capital management, capital includes issued equity share capital and all other equity reserves
attributable to the equity holders of the Company.

Management assesses the Company’s capital requirements in order to maintain an efficient overall financing structure. The
Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets.

To maintain or adjust the capital structure, the Company may return capital to shareholders, raise new debt or issue new shares.

The Company monitors capital on the basis of the debt to capital ratio, which is calculated as interest-bearing debts divided by
total capital (equity attributable to owners of the parent plus interest-bearing debts).

Note - 36 Leases

The Company’s lease asset classes primarily consist of leases for land and buildings. The Company assesses whether a contract
contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an
identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use
of an identified asset, the Company assesses whether.

a) The contract involves the use of an identified asset.

b) The Company has substantially all the economic benefits from use of the asset through the period of the lease and.

c) The Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognises a right-of-use (ROU) asset and a corresponding lease liability
for all lease arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low
value leases. For these short-term and low-value leases, the Company recognises the lease payments as an operating expense on a
straight- line basis over the term of the lease.

The company has adopted Full Retrospective approach to measure the fair value for all of its Right of use assets and
Lease liability as per provision of IND AS 116, Leases, As on the date of transition.

ROU Assets

The ROU assets are initially recognised at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are
subsequently measured at cost less accumulated depreciation and impairment losses.

ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life
of the underlying asset. ROU assets are evaluated for recoverability whenever events or changes in circumstances indicate that their
carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair
value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows
that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating
Unit (CGU) to which the asset belongs. Quantitative details relating to Right of use assets a have been mentioned in Note No. 03
forming part of financial statement.

Lease Liabilities

The lease liability is initially measured at amortised cost at the present value of the future lease payments. The lease payments are
discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the
country of domicile of these leases. Lease liabilities are remeasured with a corresponding adjustment to the related ROU asset if the
Company changes its assessment of whether it will exercise an extension or a termination option.

The company use Incremental Borrowing Rate @12 percent for the purpose of initial recognition of ROU Assets and Lease Liability.

Note - 37 Gratuity And Other Post Employment Benefits Plans

Employee benefits consists of the following:

A Defined contribution plans :

The Company has certain defined contribution plans. Contributions are made to provident fund in India for employees at the
rate of 12% 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.

B Defined benefit plan

The Company provides for gratuity to employees in India as per the Payment of Gratuity Act, 1972. Employees who are in
continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination
is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of
years of service. The gratuity plan is a funded plan and the Company makes contributions to recognised funds in India. The
Company does not fully fund the liability and maintains a target level of funding to be maintained over a period of time based
on estimations of expected gratuity payments. These benefits are funded with an insurance company in the form of a qualifying
insurance policy

Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation
of the defined benefit obligation by 1%, keeping all other actuarial assumptions constant. When calculating the sensitivity
of the defined benefit obligation to significant actuarial assumptions the same method (present value of defined benefit
obligation calculated with the projected unit credit method at the end of reporting period) has been applied while
calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in
preparing the sensitivity analysis did not change compared to the prior period.

Note 39 - Utilisation of Initial Public Offer (IPO) Proceeds

During the year, the Company completed its Initial Public Offer (IPO) and raised gross proceeds of J3601.1 millions by issuing
18,096,000 equity shares of face value H10 each at a premium. The proceeds of the issue are being utilised towards the objects
stated in the Prospectus.

The unutilised IPO proceeds as at 31 March 2026 have been temporarily invested in fixed deposits and designated bank accounts in

accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, pending utilisation

for the stated objects of the issue.

Note - 40 Segment Reporting

The Company operates primarily in the business of manufacturing and trading of gold and silver jewelry. Hence No separate

segment reporting is presented as the Company operates in a single business segment.

Note - 41 Additional Regulatory Information

1 The Company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority during the year.

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

3 The Company is in compliance with the number of layers in accordance with clause 87 of Section 2 of the Act read with
Companies (Restriction on number of layers) Rules, 2017, and there are no companies beyond the specified layers.

4 The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as
income during the year in the tax assessments under the Income-tax Act, 1961. Further, there was no previously unrecorded
income and no additional assets were required to be recorded in the books of account during the year.

5 The Company has neither traded nor invested in Crypto currency or Virtual Currency during the financial year ended March
31, 2026. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or
investing in Crypto Currency or Virtual Currency.

6 No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties either severally
or jointly with any other person except as disclosed in Note 32 to Financial Statement under related parties.

7 The Company has obtained borrowings from banks or financial institutions on the basis of security of Current Assets. The
Company has filed Monthly Statements of Current Assets with Banks &/or Financial Institutions and, the same are in agreement
with the books of accounts.

8 The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies beyond the
statutory period.

Note - 42

Previous periods’ figures have been recast / restated / regrouped to the extent practicable, whenever necessary.

11) PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provision is recognised when the company has present obligation as a result of past event(s)
and it is probable that an outflow of resources will be required to settle the obligation, in
respect of the estimate made

Provisions are not discounted to its present value and are determined based on best estimate
required to settle the obligation at reporting date. These estimates are reviewed at each
reporting date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed unless the possibility of outflow of resources is remote.
Contingent asset is neither recognised nor disclosed in the financial statement.

12) IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable
value. An impairment loss is charged to the Statement of Profit and Loss in the year in which
an asset is identified as impaired.

An impairment loss is charged to the Profit and Loss Statement in the year in which an asset
is identified as impaired. The impairment loss recognised in prior accounting period is
reversed if there has been a change in the estimate of recoverable amount.

After impairment, depreciation is provided on the revised carrying amount of the asset over
its useful life.

13) Foreign Currency Transactions
Initial recognition:

Foreign currency transactions are recorded in the reporting currency by applying to the
foreign

Currency amount, the exchange rate between the reporting currency and the foreign
currency

Prevailing as at the date of the transaction.

Exchange differences on settlement:

Exchange differences arising on the settlement of monetary items at rates different from
those at

Which they were initially recorded during the period, or reported in previous financial
statements,

Are recognized as income or as expenses in the period in which monetary items are settled.
Reporting at balance sheet date:

At the balance sheet date, foreign currency monetary items are reported using the closing
rate. Non-monetary items which are carried in terms of historical cost denominated in a
foreign currency are reported using the exchange rate at the date of the transaction.

14) Statement of Cash Flows

Cash flows are reported using the indirect method, whereby profit / loss before
extraordinary items and tax for the period is adjusted for the effects of transactions of non¬
cash nature, any deferrals or accruals of past or future operating cash receipts or payments.
Cash flows from operating, investing and financing activities of the Company are
segregated. Cash and cash equivalents for the purpose of cash flow statement comprise of
cash at bank, cash in hand and short-term deposits with an original maturity of three
months or less, as reduced by bank overdrafts.

C. NOTES TO ACCOUNTS

1. In the opinion of the Board, the current assets, loans and advances are approximately of the
value stated, if realised, in the ordinary course of business. The provision for all known
liabilities is adequate and not in excess of the amount reasonably necessary.

2. '' BALANCES IN RESPECT OF LOANS, ADVANCES AND DEPOSITS MADE

Debit balances, if any in respect of loans, advances and deposits made, are subject to
confirmation. Their balances are reflected in the accounts as appearing in the general ledger and
unfavourable adjustments, if any, not currently ascertainable will be considered in the
subsequent financial years.

3. CONTINGENCIES AND EVENTS OCCURRING AFTER BALANCE SHEET DATE

There are no contingencies or events occurred between the Balance Sheet date and reporting
date.

4. EFFECT OF CHANGES IN FOREIGN EXCHANGE RATES

The company has accounted Exports at FOB value at the exchange rate as provided by customs
on the date of transaction. Any difference on realization of export invoice is recognised as
income/expenditure in the Statement of Profit & Loss. Receivables in respect of exports are
stated at TT buying rate at the end of the year.

D) COMPLIANCE TO CORPORATE SOCIAL RESPONSIBILITY

During the year the company was required to spend a sum Rs. 35,31,538/- as CSR in
terms of the provisions of Section 135 & Sub Sections 1 & 2 to Section 469 of the
Companies Act, 2013 out of which the company has spent in Current Year Rs. 35,31,538/-
on the ongoing project.

E) IMPAIRMENT OF ASSETS

No provision for Impairment loss in terms of Accounting Standard - 28 has been made as
the management is of the opinion that considering the future use of the said assets, the .
fair value of the respective assets will be higher than the value for which they are carried.

I) Employee benefits:-

The Company has adopted the Accounting Standard 15 (revised 2005) on Employee
Benefits as per an actuarial valuation carried out by an independent actuary in •
financials. The disclosures as envisaged under the standard are as under:-

K) WORKING CAPITAL/BORROWING

The Company has obtained borrowings from banks or financial institutions on the basis
of security of Current Assets. The Company has filed Monthly Statements of Current
Assets with Banks &/or Financial Institutions and, the same are in agreement with the
books of accounts.

L) As per the information available with the Company and certified by them, total
outstanding due to Small Enterprises as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 as below

M) Rounding Off

All amounts disclosed in the financial statements and notes have been rounded off to
nearest thousands, wherever applicable. Transactions and balances with values below the
rounding off norm adopted by the Company have been reflected as "0." in the relevant
notes to these financial statements.

N) Other Statutory Information

i. The Company does not have any Benami property or any proceeding is pending
against the Company for holding any Benami property.

ii. The Company do not have any charges or satisfaction which is yet to be registered
with Registrar of Companies beyond the statutory period.

iii. The Company has not traded or invested in crypto currency or virtual currency
during the financial year.

iv. The Company is not classified as wilful defaulter.

v. The Company doesn''t have any transaction which is not recorded in the books of
accounts that 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.

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

vii. The Company is in compliance with the number of layers in accordance with clause
87 of Section 2 of the Act read with Companies (Restriction on number of layers)
Rules, 2017, and there are no companies beyond the specified layers.