అకౌంట్స్ గమనికలుShiva Granito Export Ltd.

Mar 31, 2025

23 Exceptional Items:

The Company has trade receivables amounting to T 137547816 as at March 31, 2025. These include certain overdue balances aggregating ^82504905, which are outstanding for more than 2 to 3 years.

As per the requirements of Ind AS 109 - Financial Instruments, the Company is required to assess impairment on trade receivables based on the expected credit loss (ECL) model. However, the Company has not recognized provision for impairment in respect of these overdue receivables.

The management is of the view that these receivables are recoverable in due course and hence, no provision has been made. The Company is in the process of obtaining further confirmations and undertaking recovery actions. Consequently, the provision for expected credit losses, if any, will be recognized once adequate information is available. Had the provision been made as per the expected credit loss model under Ind AS 109, the profit before tax for the year would have been lower by ^76897418 and the trade receivables and total equity would have been lower by ^76897418 and the trade receivables and total equity would have been lower by 76897418 as on the reporting date.

24: Inventory valuation

The Company is carrying inventory of raw materials/finished goods/traded goods as at the balance sheet date. However, the valuation of such inventory as required under Ind AS 2 could not be ascertained due to non-availability of requisite details as physical stock verification records, cost records, or valuation reports. Accordingly, inventory has been carried at book value / previous available cost without appropriate adjustment for net realisable value or other valuation principles as per applicable accounting standards. The impact, if any, on the financial results arising from such non-availability of valuation data is currently unascertainable Management has initiated necessary steps to conduct a proper physical verification and obtain required valuation in the subsequent period.

26 Dues to Micro, Small and Medium Enterprises (MSMEs):

Based on the information available with the Company, the disclosures relating to amounts payable to micro and small enterprises as defined under the MSMED Act, 2006 the principle amount balance due to suppliers and service provider registered under MSMED Act and remaining unpaid as at year end: Rs 10725838 on which interest payable not ascertained by the company.

27 Employee Benefits

The Company has not provided for gratuity as per the requirements of Ind AS 19 - Employee Benefits. The management is of the view that the liability will be determined and accounted for in future periods. Accordingly, no actuarial valuation has been carried out and no provision has been made in these financial statements. The impact on the financial statements due to non-compliance is currently unascertainable.

28: Money Received Against Share Warrants

During the financial year, the Company has issued 11600000 number of share warrants on a preferential basis in accordance with the provisions of Section 62(l)(c) and Section 42 of the Companies Act, 2013, read with applicable SEBI (ICDR) Regulations. Each warrant is convertible into one equity share of face value ^10/- at a price of ^15/-, within a maximum period of 18 months from the date of allotment.

As per the terms of issue, the warrant holder shall pay an amount equivalent to at leat 25% of the price fixed before allotment. The balance 75% shall be payable at the time of exercise of the option to convert the warrants into equity shares.Total consideration amounting Rs 83250002 at the time of allotment which has been credited under Money Received Against Share warrant under Other equity. Out of the total warrant money received, ^1100000 was utilised towards expenses incurred for increasing the authorised share capital including Registrar of Companies (ROC) filing fees, stamp duty, legal and professional charges, etc. Such expenses being directly attributable to equity issuance, have been adjusted against the share warrant money received and will be deducted from equity premium upon conversion of share warrants into equity shares, in accordance with the principles laid down under Ind AS 32.

The details of warrants outstanding as on [Balance Sheet Date] are as under:

Share warrant money received 83250002

30 During the period no amount was remitted in foregin currency on account of dividend and there was no earning in foregin currency except otherwise stated.

31 Previous year figures have been regrouped/reclassified where ever necessary, to conform to those of the current year presentation.

32- Outstanding Balance of secured loans, Unsecured Loans, Sundry creditors, advance from customer sundry debtors, Loans and advances are the realisable value as per information furnished bv the mamagement.

34 Ratio analysis and its element.

35 The company is defaulted in payment of statutory liabilities of income tax since 2018-19 to 2023-24 comprises Income Tax, and interest payable on due payment. As per income tax site total demand of tax and interest payble about 57.70 Lakhs.

36.a) The demand under RVAT Act was pending for the year 2016-17 for Rs 62 lakh and company applied under VAT Amenesty scheme of Rajasthan Government on 25.07.2024 and as per scheme deposited required demand but certificate of amnesty is pending at the part of commercial Tax officer, Udaipur.

b) As per Business audit conducted by CGST department and after issuing SCN the Superintendent CGST deptt Range 1 Udaipur passed the 3 Order on 30.06.2023 and raised the following demand against the demand company filed appeals before the Additional Commissioner Appeals, CGST Jodhpur. The Comissioner appeal passed the order dated 07.03.2024 against the company and confirmed the demand. The company has decided to prefer an appeal before Tax Board.

Related Parties

Amount of loan or advance in the nature of loan out standing

All the transactions entered by the Company with the related parties are at arm''s length price.

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

(iii) The Company has not been declared wilful defaulter by any bank or financial Institution or other lender.

(iv) The Company does not have any transactions with companies struck off.

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

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

vii) 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:

(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

(viii) 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:

(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

(ix) The Company has no any such 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 or any other relevant provisions of the Income Tax Act, 1961.

(x) The Company file quarterly statement to bank according to books of account regualarily and difference in statement duly reconciled with books of account.

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Mar 31, 2024

11.Contingent Liabilities

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as
a result of past events and it is probable that there will be an outflow of resources to settle the obligation and in respect of
to settle the obligation.

Provision is determind based on the best estimates required to settle the obligation at the year end datE . These are review
Contingent liabilities are not provided for in the accounts and are separately shown in notes on account. Contingent assets
are neither recognised nor provided or disclosed in the financial statements.

See accompanying notes to financial statements.

As per our report on even date

For Nenawati & Associates For and on Behalf of the Board of Directors

Chartered Accountants
FRN 02148C

sd/- Sd/- Sd/- Sd/-

(C S Nenawati) (Abhinav Upadhyay ) (Rachna Upadhyay) ( Somali Jain)

Partner Managing Director Directort Company Secretary

M.No. 071341 DIN 01858391 DIN 07617468

Place: Udaipur

Date : 22.06.2024
UDIN 24071341BKCIIS118

Notes

Debts considered impair to credit including export sales Amounting Rs which are still pending and other
debtors which payments are still doubt full hence disclosed provision under eceptional items to be reported
in Profit & Loss Account

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Mar 31, 2016

Note

1. The Cash Flow Statement has been prepared by Indirect Method as per AS-3 issued by ICAI.

2. Figures of previous year have been rearranged/regrouped wherever necessary

3. Figures in brackets are outflow/deductions

4 The Company incorporated on 31.12.2015 with the one main object to acquire whole business as going concern of Ms Shiva Export Co. a partnership firm and acquired entire assets and liabilities of the firm.

5 Financial Statement prepared from the date of incorporation 31.12.2015 to 31.03.2016 including all transaction made by Shiva Export Co. now a unit of Company after 30.12.2015.

6 During the period no amount was remitted in foreign currency on account of dividend and there was no earning in foreign currency except otherwise stated.

7 During the period total prior period expenditure is of Rs. NIL

8 The SSI status of the creditors is not known to the company, hence the information is not given

9. Fixed assets are stated as cost appeared in the books of M/s Shiva Export Co.

10 During the year the company has revised the estimated useful lives of certain assets based on a technical studt and evaluation of useful life of the assets conducted in this regard and management ''s assessment thereof. The details of previously applied depreciation rates and useful life and revised useful I lifeare as follows

11 Auditors expenses 31.03.2016 Audit fees 17250

12 It is not possible to give the quantitative details of such sales and other information required under paragraph 3, 4C, and 4D of part II of schedule VI of the Companies Act 1956 as the quantity is not maintained.