e) Summary of material accounting policies and explanatory notes:

1. Revenue Recognition

Revenue and cost are generally recognized and accounted on accrual basis as they are earned /
incurred except in cases of significant uncertainty.

1. Operational and other income are accounted for on accrual basis.

2. Brokerage is recognized on trade date basis and is net of statutory payments.

3. Revenue does not include GST and other tax component, if any.

4. Dividend income on equity shares, preference share & on mutual fund units is recognized when the
right to receive is established.

5. Profit /loss in dealing in shares & securities are recognized on the day of settlement of the transaction.

6. All other income and expenses are generally accounted on accrual basis except debenture interest,
interest receivable from/ payable to Government on tax refunds / late payment of taxes, duties and
levies etc.

7. Profit/ loss from derivatives is recognized on mark to market basis

2. Property, Plant and Equipment:

Tangible assets:

Depreciation on fixed assets is provided to the extent of depreciable amount on SLM over the useful
life of the assets in the manner prescribed in schedule II to the Companies Act, 2013. Depreciation on
property, plant and equipment are added or sold during the year, is provided on pro-rata basis with
reference to the date of addition/deletion.

The residual value, useful life and method of depreciation of the property, plant and equipments are
reviewed at each financial year and adjusted prospectively, if appropriate.

Any revaluation of asset is recognized in other comprehensive income and shown as revaluation reserve
in other equity.

An item of property, plant and equipment is derecognized upon disposal or when no future economic
benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal
or retirement of an item of property, plant and equipment is determined as the difference between the
sales proceeds and the carrying amount of the asset and is recognized in Statement of Profit and Loss.

Intangible assets:

Intangible assets are recognized when it is probable that the future economic benefits that are
attributable to the assets will flow to the enterprise and the cost of the assets can be measured reliably.
Intangible assets are carried at cost less accumulated amortization and impairment losses, if any. The
cost of an intangible asset comprises its purchase price, including any import duties and other taxes
(other than those subsequently recoverable from the taxing authorities), and any directly attributable
expenditure on making the asset ready for its intended use and net of any trade discounts and rebates.
The estimated useful life of intangible assets and the amortization period are reviewed at the end of
each financial year and amortization method is revised to reflect the changed pattern.

3. Impairment of Assets

The carrying amounts of assets are viewed at each Balance Sheet date if there is any indication of
impairment based on internal / external factors. An asset is impaired when the carrying amount of the
asset exceeds the recoverable amount. An impairment loss is charged to the Profit & Loss Account in
the year in which an asset is identified as impaired. An impairment loss recognized in prior accounting
periods is reversed if there has been change in the estimate of the recoverable amount.

4. Investment Property

Investment properties are properties (including those under construction) held to earn rentals and /
or capital appreciation are classified as investment property and are measured and reported at cost
including transaction costs.

Depreciation is recognised using reducing balance method so as to write off the cost of the investment
property less their residual values over their useful lives specified in schedule II to the Companies Act,
2013, or in the case of assets where the useful life was determined by technical evaluation, over the
useful life so determined. Depreciation method is reviewed at each financial year end to reflect the
expected pattern of consumption of the future benefits embodied in the investment property. The
estimated useful life and residual values are also reviewed at each financial year end and the effect of
any change in the estimates of useful life / residual value is accounted on prospective basis. Freehold
land and properties under construction are not depreciated.

As investment property is derecognised upon disposal or when the investment property is permanently
withdrawn from use and no future economic benefits are expected from the disposal. Any gain or loss
arising on de-recognition of property is recognised in the Statement of Profit and Loss in the same
period.

5. Foreign Currency transactions and translations

The functional currency of the Company is Indian Rupee ('). Transactions in foreign currencies are
recorded at the exchange rate prevailing on the date of transaction. At the end of each reporting period,
monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date.
Non-monetary assets and liabilities that are measured in terms of historical cost in foreign currencies
are not retranslated. Exchange differences on monetary items are recognized in the statement of profit
and loss in the period in which it arises.

6. Employee Benefits:

a) Defined Contribution Plan: Contributions to defined contribution schemes such as provident
fund, employees' state insurance, labour welfare fund are charged as an expense based on the
amount of contribution required to be made as and when services are rendered by the employees.
Company's provident fund contribution, in respect of certain employees, is made to a government
administered fund and charged as an expense to the Statement of Profit and Loss. The above
benefits are classified as Defined Contribution Schemes as the Company has no further obligations
beyond the monthly contributions.

b) Defined Benefit Plan: The Company provides for gratuity which is a defined benefit plan the liabilities
of which is determined based on valuations, as at the balance sheet date, made by an independent
actuary using the projected unit credit method. Re-measurement, comprising of actuarial gains
and losses, in respect of gratuity are recognised in the OCI, in the period in which they occur and is
not eligible to be reclassified to the Statement of Profit and Loss in subsequent periods. Past service
cost is recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment.
The classification of the Company's obligation into current and non-current is as per the actuarial
valuation report.

c) Leave entitlement: Leave encashment payments are accounted for on accrual basis and is treated
as short-term employee benefit.

d) Short-term benefits: Short-term employee benefits such as salaries, wages, performance
incentives etc. are recognised as expenses at the undiscounted amounts in the Statement of Profit
and Loss of the period in which the related service is rendered. Expenses on non-accumulating
compensated absences is recognised in the period in which the absences occur.

7. Inventories- Stock in trade (shares):

Closing stock in case of quoted shares has been valued at market value of each individual scrip of shares.
Wherever quotations are not available as on 31 March 2025, scrip has been valued at last traded price.
Wherever quotations are not available due to scrip has been suspended / delisted for a considerable
period of time by stock exchanges has been valued at nil rate. Further cost of Bonus shares is taken as
nil.

8. Trade Receivables

Trade receivables are carried at original contract value less of any provisions for doubtful debts.
Provisions are made where there is evidence of a risk of non-payment, taking into account ageing,
previous experience and general economic conditions. When a trade receivable is determined to be
uncollectable it is written off directly in the P&L a/c.

9. Cash and Cash Equivalent

Cash and cash equivalents include cash at bank and cash in hand and highly liquid interest-bearing
securities with maturities of three months or less from the date of inception/acquisition.

10. Current & Deferred Taxes
Current Income Tax

Income tax expense comprises of current tax and deferred tax. Income tax expense is recognized in the
statement of profit and loss except to the extent that it relates to items recognized directly in equity/OCI,
in which case it is recognized in other comprehensive income.

Current income tax for current and prior periods is recognized at the amount expected to be paid
to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or
substantively enacted on the reporting date. 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.

Deferred Tax

Deferred income tax assets and liabilities are recognized for all temporary differences arising between
the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred
income tax assets are recognised to the extent that it is probable that taxable profit will be available
against which the deductible temporary differences and the carry forward unused tax losses can be
utilised.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part
of the deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to
apply to taxable income in the years in which the temporary differences are expected to be received or
settled.

11. Earnings per Share

In determining earning per share, the Company considers the net profit after tax and includes the
post tax effect of any extraordinary / exceptional item. The number of shares used in computing basic
earnings per share is the weighted average number of shares outstanding during the year. The number
of shares used in computing diluted earnings per share comprises the weighted average shares
considered for deriving basic earnings per share, and also the weighted average number of shares that
could have been issued on the conversion of all diluted potential equity shares. The diluted potential
equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair
value (i.e. the average market value of the shares outstanding). Dilutive potential equity shares are
deemed converted as of the beginning of the period, unless issued at a later date. The number of shares
and potentially dilutive equity shares adjusted for any stock splits and issues of bonus shares effected
prior to the approval of the financial statements by the Board of Directors.

12. Financial instruments:
i) Financial Assets

a. Initial recognition and measurement

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

b. Subsequent Measurement

1. Financial assets carried at amortized cost (AC)

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

2. Financial assets at fair value through other comprehensive income (FVTOCI)

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

3. Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at
FVTPL.

c. Investment in subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in subsidiaries, associates and joint venture at
cost.

d. Other Equity Investments

The Company subsequently measures all equity investments at fair value. There are two
measurement categories into which the Company classifies its equity instruments:

• Investments in equity instruments at FVTPL: Investments in equity instruments are
classified as at FVTPL, unless the Company irrevocable elects on initial recognition to present
subsequent changes in fair value in other comprehensive income for equity instruments
which are not held for trading.

• Investments in equity instruments at FVTOCI: On initial recognition, the Company can
make an irrevocable election (on an instrument-by-instrument basis) to present the
subsequent changes in fair value in other comprehensive income. This election is not
permitted if equity investment is held for trading. These elected investments are initially
measured at fair value plus transaction costs. Subsequently, they are measured at
fair value with gains and losses arising from changes in fair value recognised in other
comprehensive income and accumulated in the reserve for 'equity instruments through
other comprehensive income'. The cumulative gain or loss is not reclassified to Statement
of Profit and Loss on disposal of the investments.

e. Impairment of financial assets

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

Expected credit losses are measured through a loss allowance at an amount equal to:

• The 12-months expected credit losses (expected credit losses that result from those default
events on the financial instrument that are possible within 12 months after the reporting
date); or

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

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

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

f. De-recognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows
from the financial asset expire or it transfers the financial asset and the transfer qualifies for
de-recognition under Ind AS 109. A financial liability (or a part of a financial liability) is de¬
recognized from the Company's Balance Sheet when the obligation specified in the contract is
discharged or cancelled or expires.

ii) Financial Liabilities

a) Initial Recognition and Measurement

All Financial Liabilities are recognized at fair value and in case of borrowings, net of directly
attributable cost, Fee of recurring nature are directly recognized in the Statement of Profit and
Loss as finance cost.

b) Subsequent measurement

For trade and other payables maturing within one year from the balance sheet date, the
carrying amounts approximate fair value due to the short maturity of these instruments.

13. Leases

Finance Lease : Leases are classified as finance leases whenever the terms of the lease transfer
substantially all the risks and rewards of ownership to the lessee. All other leases are classified as
operating leases.

Operating Lease : Lease of assets under which all the risks and rewards of ownership are effectively
retained by the lessor are classified as operating leases. Operating Lease payments / revenue are
recognised on straight line basis over the lease period in the statement of profit and loss account unless
increase is on account of inflation.

Company's lease agreements having period of twelve months or less, hence all lease agreements are
short term.

14. Borrowing Costs:

Borrowing costs that are attributable to the acquisition, construction, or production of a qualifying asset
are capitalized as a part of the cost of such asset till such time the asset is ready for its untended use or
sale. A qualifying asset is an asset that necessarily requires a substantial period of time (generally over
twelve months) to get ready for its intended use or sale.

All other borrowing costs are recognized as expense in the period in which they are incurred.

15. Operating Cycle

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