అకౌంట్స్ గమనికలుSPV Global Trading Ltd.

Mar 31, 2025

viii Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the
amount of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the
Balance Sheet date. If the effect of the time value of money is material, provisions are discounted to reflect its present value using a current
pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. When
discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

C o nti ng e nt li abi l iti es are disc l o se d when the re i s a po s si bl e o bli gation ari si ng from past eve nts, the existe nc e o f whi c h wi l l be c o nfi rme d
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or
a reliable estimate of the amount cannot be made.

Contingent assets are neither recognized nor disclosed except when realisation of income is virtually certain, related asset is disclosed.
When the Company expects some or all ofa provision to be reimbursed, reimbursement is recognized as a separate asset, but only when the
reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any
reimbursement.

ix Revenue Recognition:

Revenue from sale of goods is recognised when all the significant risks and rewards of ownership in the goods are transferred to the buyer
as per the terms of the contract. Revenue is measured at fair value of the consideration received or receivable, after deduction of any trade
discounts, volume rebates and any taxes or duties collected on behalf of the government which are levied on sales such as sales tax, value
added tax, GST, etc.

Revenue from rendering ofservices is recognised when the performance obligation to render the services are completed.

Dividend income on investments is

recognised when the right to receive dividend is established.

Interest income is recognized on a time proportionate basis taking into account the amounts invested and the rate of interest. For all
financial instruments measured at amortised cost, interest income is recorded using the Effective Interest Rate method to the net carrying
amount of the financial assets.

x Expenditure:

Expenses are accounted on accrual basis.

xi Borrowing Costs:

Borrowing costs consist of interest, ancillary and other costs that the Company incurs in connection with the borrowing of funds and
interest relating to other financial liabilities. In view of nature of activities carried on by the Company, wherein no qualifying assets are
being constructed/ developed, the borrowing costs are recognised as an expense in the year in which they are incurred.

xii Employee Benefits:

All employee benefits payable wholly within twelve months of rendering the service are classified as short-term employee benefits and they
are recognized in the period in which the employee renders the related service. The Company recognizes the undiscounted amount of short¬
term employee benefits expected to be paid in exchange for services rendered as a liability.

^xiii Income Taxes:

Tax expense is the aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax.
Current tax:

Current tax is the amount of income taxes payable in respect of taxable profit for a period. Taxable profit differs from ‘profit before tax’ as
reported in the Statement of Profit and Loss because of items of income or expense that are taxable or deductible in other years and items
that are never taxable or deductible under the Income Tax Act, 1961.

Current tax is measured using tax rates that have been enacted by the end of reporting period for the amounts expected to be recovered from
or paid to the taxation authorities.

Deferred tax:

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and
the corresponding tax bases used in the computation of taxable profit under Income tax Act, 1961.

Deferred tax liabilities are generally recognized for all taxable temporary differences. However, in case of temporary differences that arise
from initial recognition of assets or liabilities in a transaction that affect neither the taxable profit nor the accounting profit, deferred tax
liabilities are not recognized.

Deferred tax assets are generally recognized for all deductible temporary differences to the extent it is probable that taxable profits will be
available against which those deductible temporary difference can be utilized. In case of temporary differences that arise from initial
recognition of assets or liabilities in a transaction that affect neither the taxable profit nor the accounting profit, deferred tax assets are not
recognized.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer
probable that sufficient taxable profits will be available to allow the benefits of part or all of such deferred tax assets to be utilized.

Deferred tax assets and liabilities are measured at the tax rates that have been enacted or substantively enacted by the balance sheet date and
are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Presentation of current and deferred tax:

Current and deferred tax are recognized as income or an expense in the Statement of Profit and Loss, except when they relate to items that
are recognized in Other Comprehensive Income, in which case, the current and deferred tax income/expense are recognized in Other
Comprehensive Income.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts
and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. In case of deferred tax assets
and deferred tax liabilities, the same are offset if the Company has a legally enforceable right to set off corresponding current tax assets
against current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority
on the Company.

xiv Earnings Per Share:

Basic EPS is arrived at based on net profit after tax available to equity shareholders to the weighted average number of equity shares
outstanding during the year.

The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of potential dilutive equity shares unless impact
is anti-dilutive.

xv Cash flows Statement

Cash flows are reported using the indirect method where by the profit before tax is adjusted for the effect of the transactions of a non-cash
nature, any deferrals or accruals of past and future operating cash receipts or payments and items 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.

xvi Recent Pronouncements

On March 24, 2021, the Ministry of Corporate Affairs (“MCA”) through a notification, amended Schedule III of the Companies Act, 2013.
The amendments revise Division I, II and III of Schedule III and are applicable from April 1, 2021. Key amendments relating to Division III
which relate to companies whose financial statements are required to comply with Companies(Indian Accounting Standards) Rules, 2015
are:

Balance Sheet:

• Lease liabilities should be separately disclosed under the head ‘financial liabilities’, duly distinguished as current or non-current.

• Certain additional disclosures in the statement of changes in equity such as changes in equity share capital due to prior period errors and
restated balances at the beginning of the current reporting period.

• Specified format for disclosure of shareholding of promoters.

• Specified format for ageing schedule of trade receivables, trade payables, capital work-in-progress and intangible asset under development.

• If a company has not used funds for the specific purpose for which it was borrowed from banks and financial institutions, then disclosure
of details of where it has been used.

• Specific disclosure under ‘additional regulatory requirement’ such as compliance with approved schemes of arrangements, compliance
with number of layers of companies, title deeds of immovable property not held in name of company, loans and advances to promoters,
directors, key managerial personnel (KMP) and related parties, details of benami property held etc.

Statement of profit and loss:

• Additional disclosures relating to Corporate Social Responsibility (CSR), undisclosed income and crypto or virtual currency specified
under the head"additional information" in the notes forming part of the standalone financials statements. The amendments are extensive and
the Company will evaluate the same to give effect to them as required by law.

(a) General Reserve:

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of profit for the period at a specified percentage in
accordance with applicable regulations. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified
percentage of the net profit to general reserve has been withdrawn. However, the amount previously transferred to the general reserve can be utilised
only in accordance with the specific requirements of the Companies Act, 2013.

(b) Special Reserve:

Statutory Reserve represents the Reserve Fund created under Section 45 IC of the Reserve Bank of India Act, 1934.

(c) Retained Earnings:

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to
shareholders.

(d) Equity Instruments through Other Comprehensive Income:

This represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive
income, under an irrevocable option.

The Company’s principal financial liabilities are trade and other payables. The main purpose of these
financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include
trade and other receivables, investments and cash and cash equivalents that arise directly from its
operations.

The Company’s activities expose it to market risk, liquidity risk and credit risk.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a
change in the price of a financial instrument. The value of a financial instrument may change as a result of
changes in the interest rates, foreign currency exchange rates, commodity prices, equity prices and other
market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk
sensitive financial instruments, including investments and deposits, foreign currency receivables, payables
and borrowings.

The Company’s overall risk management focuses on the unpredictability of financial market and seeks to
minimise potential adverse effects on the financial performance of the Company.

Interest Rate Risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in prevailing market interest rates. .

Equity Price Risk:

The Company is exposed to equity price risks arising from equity investments. Equity investments are held
for strategic rather than trading purposes. The Company does not actively trade in these investments.

Credit Risk:

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial
loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, investment
in mutual funds, derivative financial instruments, other balances with banks, loans and other receivables.
The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit
rating. The Company’s exposure and credit ratings of its counterparties are continuously monitored and the
aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from investment in mutual funds, derivative financial instruments and other balances
with banks is limited and there is no collateral held against these because the counterparties are banks and
recognised financial institutions with high credit ratings assigned by the credit rating agencies.

Trade Receivables

At present, the Company''s total sales is to its subsidiary having good credit rating. No credit risk exist on the
balance sheet date.

Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on
time or at reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and
marketable securities and the availability of funding through an adequate amount of credit facilities to meet
obligations when due. The Company’s finance team is responsible for managing liquidity, funding as well as
settlement management. In addition, processes and policies related to such risks are overseen by senior
management. Management monitors the Company’s liquidity position through rolling forecasts on the basis
of expected cash flows.

Regulatory Risk:

The Company is exposed to risk attached to various statutes, laws and regulations including the
Competition Act. The Company is mitigating these risks through regular review of legal compliances carried
out through internal scrutiny as well as external compliance audits.

Capital Risk Management:

For the purpose of the Company''s capital management, capital includes issued equity capital and all other
equity reserves attributable to the equity holders. The primary objective of the Company’s capital
management policy is to ensure that all times, it remains going concern and safeguard interest of its
shareholders and stakeholders.

Commodity Price Risk:

The Company is exposed to the risk of price fluctuations of trading goods. The Company proactively
manages these risks through forward booking, inventory management and proactive vendor development
practices. The Company’s reputation for quality, product differentiation and service, with sales majorly to
its subsidiary mitigates the impact of price risk on the goods traded.

(25) Previous year figures

Previous Year''s figures have been regrouped/reclassified, wherever necessary, to correspond with the current year''s
classification/disclosures,

(26) The other disclosure requirement under Part I and Part II in Division I of Schedule III to the Companies Act,2013 (as amended) is either
NIL or not applicable

Sd/- Sd/-

As per our report of even date Balkrishna Binani Bhumika Shah

For S I G M A C & CO Managing Director Director

Chartered Accountants 00175080 07019476

Firm Reg No. 116351W

Sd/- Sd/- Sd/-

Rahul Sarda Vishwas Patkar Avinash Sharma

Partner Chief Financial Officer Company Secretary

ICAI M No. 135501
Date: 29th May, 2025
Place: Mumbai

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Mar 31, 2024

viii Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of
a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are
measured at the best estimate of the expenditure required to settle the present obligation at the Balance
Sheet date. If the effect of the time value of money is material, provisions are discounted to reflect its
present value using a current pre-tax rate that reflects the current market assessments of the time value
of money and the risks specific to the obligation. When discounting is used, the increase in the provision
due to the passage of time is recognised as a finance cost.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which 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 or a present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle the obligation
or a reliable estimate of the amount cannot be made.

Contingent assets are neither recognized nor disclosed except when realisation of income is virtually
certain, related asset is disclosed. When the Company expects some or all of a provision to be
reimbursed, reimbursement is recognized as a separate asset, but only when the reimbursement is
virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of
any reimbursement.

ix Revenue Recognition:

Revenue from sale of goods is recognised when all the significant risks and rewards of ownership in the
goods are transferred to the buyer as per the terms of the contract. Revenue is measured at fair value of
the consideration received or receivable, after deduction of any trade discounts, volume rebates and any
taxes or duties collected on behalf of the government which are levied on sales such as sales tax, value
added tax, GST, etc.

Revenue from rendering of services is recognised when the performance obligation to render the services
are completed. Dividend income on investments is recognised when the right to receive dividend is
established. Interest income is recognized on a time proportionate basis taking into account the amounts
invested and the rate of interest. For all financial instruments measured at amortised cost, interest
income is recorded using the Effective Interest Rate method to the net carrying amount of the financial
assets.

x Expenditure:

Expenses are accounted on accrual basis.

xi Borrowing Costs:

Borrowing costs consist of interest, ancillary and other costs that the Company incurs in connection with
the borrowing of funds and interest relating to other financial liabilities. In view of nature of activities
carried on by the Company, wherein no qualifying assets are being constructed/ developed, the borrowing
costs are recognised as an expense in the year in which they are incurred.

xii Employee Benefits:

All employee benefits payable wholly within twelve months of rendering the service are classified as short¬
term employee benefits and they are recognized in the period in which the employee renders the related
service. The Company recognizes the undiscounted amount of short-term employee benefits expected to
be paid in exchange for services rendered as a liability.

xiii

Income Taxes:

Tax expense is the aggregate amount included in the determination of profit or loss for the period in
respect of current tax and deferred tax.

Current tax:

Current tax is the amount of income taxes payable in respect of taxable profit for a period. Taxable profit
differs from ‘profit before tax’ as reported in the Statement of Profit and Loss because of items of income
or expense that are taxable or deductible in other years and items that are never taxable or deductible
under the Income Tax Act, 1961.

Current tax is measured using tax rates that have been enacted by the end of reporting period for the
amounts expected to be recovered from or paid to the taxation authorities.

Deferred tax:

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used in the computation of taxable profit
under Income tax Act, 1961.

Deferred tax liabilities are generally recognized for all taxable temporary differences. However, in case of
temporary differences that arise from initial recognition of assets or liabilities in a transaction that affect
neither the taxable profit nor the accounting profit, deferred tax liabilities are not recognized.

Deferred tax assets are generally recognized for all deductible temporary differences to the extent it is
probable that taxable profits will be available against which those deductible temporary difference can be
utilized. In case of temporary differences that arise from initial recognition of assets or liabilities in a
transaction that affect neither the taxable profit nor the accounting profit, deferred tax assets are not
recognized.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to
the extent that it is no longer probable that sufficient taxable profits will be available to allow the benefits
of part or all of such deferred tax assets to be utilized.

Deferred tax assets and liabilities are measured at the tax rates that have been enacted or substantively
enacted by the balance sheet date and are expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled.

Presentation of current and deferred tax:

Current and deferred tax are recognized as income or an expense in the Statement of Profit and Loss,
except when they relate to items that are recognized in Other Comprehensive Income, in which case, the
current and deferred tax income/expense are recognized in Other Comprehensive Income.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right
to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the
asset and settle the liability simultaneously. In case of deferred tax assets and deferred tax liabilities, the
same are offset if the Company has a legally enforceable right to set off corresponding current tax assets
against current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes
levied by the same tax authority on the Company.

xiv Earnings Per Share:

Basic EPS is arrived at based on net profit after tax available to equity shareholders to the weighted
average number of equity shares outstanding during the year.

The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of potential
dilutive equity shares unless impact is anti-dilutive.

xv Cash flows Statement

Cash flows are reported using the indirect method where by the profit before tax is adjusted for the effect
of the transactions of a non-cash nature, any deferrals or accruals of past and future operating cash
receipts or payments and items 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.

The Company’s principal financial liabilities are trade and other payables. The main purpose of these
financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include
trade and other receivables, investments and cash and cash equivalents that arise directly from its
operations.

The Company’s activities expose it to market risk, liquidity risk and credit risk.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a
change in the price of a financial instrument. The value of a financial instrument may change as a result of
changes in the interest rates, foreign currency exchange rates, commodity prices, equity prices and other
market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk
sensitive financial instruments, including investments and deposits, foreign currency receivables, payables
and borrowings.

The Company’s overall risk management focuses on the unpredictability of financial market and seeks to
minimise potential adverse effects on the financial performance of the Company.

Interest Rate Risk:

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in prevailing market interest rates. .

Equity Price Risk:

The Company is exposed to equity price risks arising from equity investments. Equity investments are held
for strategic rather than trading purposes. The Company does not actively trade in these investments.

Credit Risk:

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial
loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, investment
in mutual funds, derivative financial instruments, other balances with banks, loans and other receivables.
The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit
rating. The Company’s exposure and credit ratings of its counterparties are continuously monitored and the
aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from investment in mutual funds, derivative financial instruments and other balances
with banks is limited and there is no collateral held against these because the counterparties are banks and
recognised financial institutions with high credit ratings assigned by the credit rating agencies.

Trade Receivables

At present, the Company''s total sales is to its subsidiary having good credit rating. No credit risk exist on the
balance sheet date.

Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time
or at reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and
marketable securities and the availability of funding through an adequate amount of credit facilities to meet
obligations when due. The Company’s finance team is responsible for managing liquidity, funding as well as
settlement management. In addition, processes and policies related to such risks are overseen by senior
management. Management monitors the Company’s liquidity position through rolling forecasts on the basis
of expected cash flows.

Regulatory Risk:

The Company is exposed to risk attached to various statutes, laws and regulations including the Competition
Act. The Company is mitigating these risks through regular review of legal compliances carried out through
internal scrutiny as well as external compliance audits.

Capital Risk Management:

For the purpose of the Company''s capital management, capital includes issued equity capital and all other
equity reserves attributable to the equity holders. The primary objective of the Company’s capital
management policy is to ensure that all times, it remains going concern and safeguard interest of its
shareholders and stakeholders.

Commodity Price Risk:

The Company is exposed to the risk of price fluctuations of trading goods. The Company proactively
manages these risks through forward booking, inventory management and proactive vendor development
practices. The Company’s reputation for quality, product differentiation and service, with sales majorly to its
subsidiary mitigates the impact of price risk on the goods traded.

(27) Previous year figure

Previous year figures have been regrouped/ reclassified, wherever necessary, to confirm to the current years
classification/ disclosure

(28) The other disclosure requirement under Part I and Part II in Division I of Schedule III to the Companies Act,2013 (as
amended) is either NIL or not applicable

As per our report of even date Sd/- Sd/-

For S S R C A & Co Balkrishna Binani Sanjay Mundra

Chartered Accountants Managing Director Director

FRN No. 108726W 00175080 01205282

Sd/- Sd/- Sd/-

Shubham Jain Vishwas Patkar Jessica Gandhi

Partner Chief Financial Officer Company Secretary

ICAI M. No. 443522

Place : Mumbai

Dated : 29th May 2024.

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Mar 31, 2014

(1) Deferred Tax Asset

Deferred Tax Asset on account of carried forward losses is not recognised as there is no virtual certainty of its realisation.

(2) Segment Reporting

The Company is engaged solely, in investment activity during the year and all activities of the Company revolve around this activity. As such there are no reportable segment as defined by Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

(3) Provision for tax has not been made as there is no taxable income both under the normal provisions as well as u/s 115 JB of the IT Act, 1961.

(4) Previous year figures

Previous Year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosures.

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Mar 31, 2013

(1) Deferred Tax Asset

Deferred Tax Asset on account of carried forward losses is not recognised as there is no virtual certainty of its realisation.

(2) Segment Reporting

The Company is engaged solely in investment activity during the year and all activities of the Company revolve around this activity. As such there are no reportable segment as defined by Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

(3) Previous year figures

Previous Year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosures.

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Mar 31, 2012

A. The number of shares and amount outstanding at the beginning and at

b. The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to same right based on the number of shares held.

c. Shares in the Company held by each shareholders holding more than 5% shares:

(1) Deferred Tax Asset

Deferred Tax Asset on account of carried forward losses is not. recognised as there is no virtual certainty of its realisation.

(2) Previous year figures

The Revised Schedule VI has become effective from April 1, 2011 for the preparation and presentation of financial statements. This has significantly impacted the disclosures and presentation made in the financial statements. Previous Year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosures.

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Mar 31, 2010

1. Some of the debit & credit balances are subject to confirmation.

2. a. Sundry creditors do not include any amount due to Micro, Small & Medium Enterprises.

b. Based on the information so far available with the Company in respect of MSME (as defined in the Micro, Small & Medium Enterprises Development Act, 2006) there are no delays in payment of dues to such enterprises during the year and there is no such dues payable at the year end.

3. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated, if realised in the ordinary course of business and provision has been made for doubtful advances.

4. Previous Years figures have been regrouped, rearranged, wherever necessary, so as to make them comparable with current years figures.

5. Other information required under Part I and Part II of Schedule VI to the Companies Act, 1956 is either NIL or NOT APPLICABLE.