అకౌంట్స్ గమనికలుSKP Bearing Industries Ltd.

h Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised for when the Company has at present, legal or contractual obligation as a
result of past events, only if it is probable that an outflow of resources embodying economic outgo _{t x y}
or loss will be required and if the amount involved can be measured reliably.

Contingent liabilities being a possible obligation as a result of past events, the existence of which

will be confirmed only by the occurrence or non occurrence of one or more future events not wholly
in control of the Company are not recognised in the accounts. The nature of such liabilities and an
estimate of its financial effect are disclosed in notes to the standalone financial statements.
Contingent assets are not recognised in the standalone financial statements. The nature of such
assets and an estimate of its financial effect are disclosed in notes to the standalone financial
statements.

i Revenue recognition

"Revenue is recognized in accordance with Accounting Standard (AS) 9 on ''Revenue Recognition''
using the accrual basis and the exclusive method, i.e., excluding taxes.

Effective 1st April 2025, the Company changed its accounting policy for revenue from renewable
energy generation from a cash basis to an accrual (generation) basis.

Electricity generated and consumed internally is accounted for on a net basis. Surplus generation is
recognized as other income, while any consumption shortfall is recorded as an electricity expense."
j Employee Benefit Expense
Post-employment benefit plans

Contributions to defined contribution retirement benefit schemes are recognised as expense when
employees have rendered services entitling them to such benefits.

For defined benefit schemes (Gratuity), the Company provides benefits to its eligible employees
through a Group Gratuity Scheme administered by the Life Insurance Corporation of India (LIC). The
Company makes contributions towards the scheme and recognises such contributions as an
expense in the Statement of Profit and Loss in the period in which the services are rendered.
Accordingly, no separate actuarial valuation is conducted, and no additional provision for gratuity
obligations is recognised in the balance sheet.

Other employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the
services rendered by employees is recognised during the period when the employee renders the
service. These benefits include compensated absences such as paid annual leave, overseas social
security contributions, and performance incentives.

Compensated absences which are not expected to occur within twelve months after the end of the
period in which the employee renders the related services are recognised as an actuarially
determined liability at the present value of the defined benefit obligation at the balance sheet date.
k Foreign currency transactions

Income and expense in foreign currencies are converted at exchange rates prevailing on the date of
the transaction. Foreign currency monetary assets and liabilities other than net investments in non¬
integral foreign operations are translated at the exchange rate prevailing on the balance sheet date
and exchange gains and losses are recognised in the statement of profit and loss. Exchange
difference arising on a monetary item that, in substance, forms part of an enterprise''s net
investments in a non-integral foreign operation are accumulated in a foreign currency translation
reserve.
l Taxation

Current income tax expense comprises taxes on income from operations in India and in foreign
jurisdictions. Income tax payable in India is determined in accordance with the provisions of the
Income Tax Act, 1961. Tax expense relating to foreign operations is determined in accordance with
tax laws applicable in countries where such operations are domiciled.

The Company has opted for the concessional tax regime under Section 115BAA of the Income-tax
Act, 1961. Accordingly, the provisions relating to Minimum Alternate Tax (MAT) under Section 115JB
of the Income-tax Act, 1961 are not applicable to the Company. Consequently, no MAT credit
„entitlement arises in respect of the Company.

Deferred tax expense or benefit is recognised on timing differences being the difference between
taxable income and accounting income that originate in one period and is likely to reverse in one or

more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and
tax laws that have been enacted or substantively enacted by the balance sheet date.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off¬
setting advance tax paid and income tax provision arising in the same tax jurisdiction for relevant tax
paying units and where the Company is able to and intends to settle the asset and liability on a net
basis.

The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable
right and these relate to taxes on income levied by the same governing taxation laws.
m Earnings Per Share

Earnings per share is computed by dividing the net profit or loss for the period attributable to equity
shareholders by the number of equity shares outstanding during the period.

Note:-

1. No amount has been written off or written back during the year in respect of debts due from or to related parties.

2. Personal Guarantee of : 1. Shrinand Kamlakar Palshikar 2. Sangita Shrinand Palshikar.

3. List Company/entity owned or significantly influenced by directors, Key Management Personnels and Relative of Key
Management Personnels have been determined by the Management and relied upon by the Auditors. The Auditors have not
performed any procedure to determine whether the list is accurate and complete.

4. The Company has not given/ provided any guarantee/ collaterals for and on behalf of the aforementioned related parties.

35 Others

i ) Previous year figures have been regrouped and rearranged wherever necessary, to make them comparable with those of
current year.

II) Trade Payables, Advances and Liabilities have been taken as per books, are subject to reconciliation/confirmation and

consequential adjustments, if any.

III) In the opinion of Board of Directors, Current Asset, Loans and Advances are Approximately of the same value at which these
are stated in the Balance Sheet, if realized in ordinary course of business.

36 Title deeds of Immovable Property not held in name of the Company

The company does not have any immovable property (other than properties where the company is the lessee and the lease
agreements are duly executed in favour of the company) for which title deeds are not held in the name of the company.

Accordingly, the requirement to disclose details relating to title deeds of immovable properties not held in the name of the
company is not applicable.

37 Revaluation of Property, Plant and Equipment

The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible assets.

38 Capital-Work-in Progress (CWIP)

The Company have tangible asset named machinery under work in Progress (refer note no.11).

39 Intangible assets under development:

The Company have no Intangible Asset under Development.

40 Details of Benami Property held

The Company affirms that no proceedings have been initiated or are pending against it under the Benami Transactions
(Prohibition) Act, 1988 and the rules made thereunder. The Company does not hold any benami property, nor has it been involved
in any transaction that qualifies as a benami transaction as defined under the said Act.

41 The Company''s borrowings from banks are secured by way of a charge on certain tangible assets of the Company, as well as
current assets comprising inventories and net of trade receivables and payables. The periodic statements and returns of current
assets filed by the Company with the banks are generally in agreement with the books of accounts.

42 Contingent liabilities.

In the normal course of business, contingent liabilities may arise from litigation and other claims against the Company. Potential
liabilities that are possible but not probable of crystallising or are very difficult to quantify reliably are treated as contingent
liabilities. Such liabilities are disclosed in the notes but are not recognised.

Trade receivables as at March 31,2026 include certain export dues that were realized after the reporting date but beyond the
stipulated regulatory timelines. As of the date of signing, no regulatory scrutiny or penal action has been initiated by the RBI, AD
Bank, or GST authorities. The financial impact of any potential penalty for this procedural delay is currently unascertainable but
expected by management to be immaterial; hence, no provision has been recognized.

43 Wilful Defaulter

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

44 Registration of Charge

There are no charges or satisfaction yet to be registered with Registrar of companies (ROC).

45 Arrangements and Amalgamations

There are no Scheme of Arrangements placed before the Competent Authority in terms of sections 230 to 237 of the Companies
Act, 2013 for approval.

. *46 Compliance with number of layers of companies

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The company has 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.

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47 Utilisation of Borrowed funds and share premium

The Company has not received any fund (which are material either individually or in the aggregate) from any party(ies) (Funding
Party(ies)) with the understanding whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly
lend or invest in other persons or entities identified in any manner by or on behalf of the Funding Party (Ultimate Beneficiaries") or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

48 Undisclosed Income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income
Tax Act, 1961, that has not been recorded in the books of account.

49 Post Employment Benefit

The Company provides gratuity benefits to its eligible employees through a Group Gratuity Scheme with Life Insurance Corporation
of India (LIC). The Company makes contributions towards the scheme and recognises such contributions as an expense in the
Statement of Profit and Loss. No provision for gratuity has been made separately in the standalone financial statements.

50 Corporate Social Responsibility (CSR)

Where the company covered under section 135 of the companies act, the following shall be disclosed with regard to CSR activities:-

51 Segment reporting

The Company publishes the standalone financial statements of the Company along with the consolidated financial statements. In
accordance with Accounting Standard (AS) 17 - ''Segment Reporting'', the Company has disclosed the segment information in the
consolidated financial statements.

52 Virtual Currency Transaction

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

1. INVENTORY:

Inventories are valued at lower of cost or net realizable value as declared by the company which is in line with requirement of AS 2 “Valuation of Inventories”. Stock is considered as taken Value and Certified by the company.

2. ACCOUNTING METHOD:

The accounting method employed is Mercantile Accounting System. Final Accounts has been prepared on Going Concern assumption and materiality aspect but some expenses due to their peculiar nature like electricity, telephone expenses, etc are accounted for, on cash basis.

3. REVENUE RECOGNITION:

Revenues are recognized in accordance with AS 9 on; Revenue Recognition’ following the accrual basis of accounting and using exclusive method i.e. excluding the amount of taxes. However, certain items, due to their nature, are recognized on cash basis. However, effect of the same does not seem to be material.

As per management’s representation, With regard to renewable energy generation business of the company, the incomes are booked on receipt basis due to their very nature.

9. VERIFICATION

We have verified the transactions recorded in the books with such of the documentary evidences as were made available and produced before us, where such documentary evidence were not available the entries authenticated by the party have been accepted.

10. INCOME TAX AND ITS IMPLICATIONS:

From Financial year 2021-22, the company had opted to pay tax as per sec.115BAA of Income Tax Act,1961.

11. All the Balances to the Debit and Credit of Debtors, Creditors and Unsecured Loans are subject to confirmation and reconciliations.

12. Accounting Ratios are calculated on the basis of figures shown in audited set of accounts, which are system generated and subject to our notes/remarks..

13. The figures have been rearranged and regrouped wherever considered necessary and rounded off to the nearest Rupee in Thousands.

14. There are no prior period expenses or there are no extra ordinary expenses debited to Profit & Loss account except nonmaterial item of erstwhile partnership firm.

15. EFFECT OF CONVERSION:

The corporate Entity comes into existence on 06.01.2022 after conversion of partnership firm. As per the representation of management, company is eligible for benefit of provisions of Section 47(xiii) and other provisions of Income tax Act, 1961 and estimates NIL tax liabilities on conversion. We are not aware of outcome of the same on the date of our report and hence we do not comment upon the same.

16. Figures of GST credit and liability as per books of account and as per GST Portal are subject to reconciliation by the Company.

17. REPORTABLE SEGMENTS:

As represented by Management, No business segment of the Company qualifies as separate reportable segments, and therefore segment wise reporting is not provided, even for renewable energy generation plants located at various places.

18. The above financial result and statements of assets and liabilities were reviewed by the audit committee and then approved by Board of directors at their respective meeting held on 22/05/2024.

19. Limited review has been given by auditor for the results for half year ended 30/09/2023 as per Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulations,2015.

NOT AVAILABLE