(a) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 CL 7668. The loan is repayable in 38 equated monthly instalments of ' 97,550/- each commencing from 20-July-2024 and the last instalment is payble on 20-Aug-2027 rate of interest as on 31.03.2026 is @ 9.30% There was no continuing default in the repayment of instalment and interest thereon.

(b) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 CL 9456. The loan is repayable in 38 equated monthly instalments of ' 97,550/- each commencing from 15-Sep-2024 and the last instalment is payble on 15-Oct-2027 rate of interest as on 31.03.2026 is @ 9.30% There was no continuing default in the repayment of instalment and interest thereon.

(c) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 DC 1572, MH 46 DC 2382 & MH 46 DC 2383. The loan is repayable in 38 equated monthly instalments of ' 82,305/- each commencing from 10-Nov-2025, 05-Jan-2026 & 05-Jan-2026 respectively and the last instalment is payble on 10-Dec-2028, 05-Feb-2029 & 05-Feb-2029 respectively. rate of interest as on 31.03.2026 is @ 9.05% There was no continuing default in the repayment of instalment and interest thereon.

(a) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 BM 7420. The loan is repayable in 60 equated monthly instalments of ' 55,614/- each commencing from 15-Apr-2021 and the last instalment is payble on 15-Mar-2026 rate of interest as on 31.03.2025 is @ 9.48% There was no continuing default in the repayment of instalment and interest thereon.

(b) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 CL 7668. The loan is repayable in 38 equated monthly instalments of ' 97,550/- each commencing from 20-July-2024 and the last instalment is payble on 20-Aug-2027 rate of interest as on 31.03.2025 is @ 9.30% There was no continuing default in the repayment of instalment and interest thereon.

(c) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 CL 9456. The loan is repayable in 38 equated monthly instalments of ' 97,550/- each commencing from 15-Sep-2024 and the last instalment is payble on 15-Oct-2027 rate of interest as on 31.03.2025 is @ 9.30% There was no continuing default in the repayment of instalment and interest thereon.

(d) Term loan from Kotak Mahindra Bank Limited is secured against hypothecation of Bus no. MH 46 DC 1572, MH 46 DC 2382 & MH 46 DC 2383. The loan is repayable in 38 equated monthly instalments of ' 82,305/- each commencing from 10-Nov-2025, 05-Jan-2026 & 05-Jan-2026 respectively and the last instalment is payble on 10-Dec-2028, 05-Feb-2029 & 05-Feb-2029 respectively. rate of interest as on 31.03.2026 is @ 9.05% There was no continuing default in the repayment of instalment and interest thereon.

There are no Micro, Small and Medium Enterprises, to whom the Company owes (principal and/or interest), which has been outstanding for more than 45 days as at the balance sheet date. There were delay in payments to Micro, Small and Medium Enterprises for more than 45 days during the year for which no provision for interest has been made. As per the management, the company has mutual understanding with such parties for different payment terms while purchasing materials from them and the payment to them is made as per agreed terms accordingly. As per management there are no MSME registered parties with whom the company has any dispute related to the principal or interest towards the delay payments so happened during the year over and above the agreed terms of payment.

NOTE 40: EMPLOYEE BENEFITS:

A) Defined Contribution Plan

Provident Fund: The contribution to the provident fund of employees are made to a government administered provident fund and there are no further obligations beyond making such contribution.

B) Defined Benefit Plan

Gratuity: The Company participates in the employee's group gratuity-scheme of life insurance corporation limited, a funded defined benefit plan for qualifying employees. Gratuity is payable to all eligible employees on death or on separation/termination in terms of the provisions of The Payment of Gratuity (Amendment) Act, 1997, or as per company's scheme whichever is more beneficial to the employees. The company made payments for the gratuity for the year ended based on the actuarial Valuation of the gratuity liability as done by the LIC and the same has been provided in the books of accounts. Payments of the company to such gratuity

fund has been considered as expenditure for the year and the fund laying with LIC under the gratuity fund has not been accounted as assets as the same is towards the defined future liability of the company.

Provident fund: The company makes provident fund contribution to the government administered provident fund and has no further liability towards the same.

C) Amounts Recognised as Expense:

i) Defined Contribution Plan: Employer's contribution to provident fund amounting to ' 133.16 lakhs has been included under contribution to provident funds

ii) Defined Benefit Plan: Gratuity amount payable for ' 72.77 lakhs has been shown as payable at the year ended to the LIC gratuity fund as calculated based on actuarial valuation of the gratuity made by the Life Insurance Corporation.

The financial instruments are categorized into following levels based on the inputs used to arrive at fair value measurements described below.

Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.

Level 2: Inputs other than quoted price included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

3. FINANCIAL RISK MANAGEMENT:

The activities of the company exposes it to a number of financial risks namely market risk, credit risk and liquidity risk. The company seeks to minimize the potential impact of unpredictability of the financial markets on its financial performance. The company management does regularly monitoring, analysis and manage the risks faced by the company and to set and monitor appropriate risk limits and controls for mitigation of the risks.

iii) Management of price risk:

The Company has no surplus for investment in debt mutual funds, deposits etc. The Company has very material deposit with the banks to provide security/margin against guarantee given by the banks when required and also to mitigate the liquidity issues to face the price risk. Deposit is made in Fixed rate instrument. In view of this it is not susceptible to market price risk, arising from changes in interest rates or market yields which may impact the return and value of the investments.

Credit risk refers to the risk of default on its obligations by a counterparty to the group resulting in a financial loss to the group. The group is exposed to credit risk from its operating activities ie trade receivable, foreign exchange transactions and financial instruments. Credit risk from trade receivables is managed through the company's policies, procedures and controls relating to customer credit risk management by establishing credit limits, credit approvals and monitoring creditworthiness of the customers to which the group extends credit in the normal course of business. Outstanding customer receivables are regularly monitored. The group has no concentration of credit risk as the customer base is widely distributed. The group's historical experience of collecting receivables and level of default indicate that credit risk is low and generally uniform across markets consequently, trade receivables are considered to be a single class of financial assets. All overdue customer balances are evaluated taking into account the age of the dues, specific credit circumstances, the track record of the counterparty etc. Loss allowances and impairment is recognised, wherever considered appropriate by the company management.

C) Management of Liquidity Risk:

Liquidity risk is the risk that the company may not be able to meet its present and future cash obligations without incurring unacceptable losses. The company's objective is to maintain at all times, optimum levels of liquidity to meet obligations. The company closely monitors its liquidity position and has a cash management system. The company maintains adequate sourcesoffinancingincludingdebtand overdraft from banks and financial markets at optimized cost. The company's current assets aggregate to ' 31,070.24 lakhs (PY 2025 - ' 23,237.10 Lakhs) including cash and cash equivalents and other bank balances of ' 6,904.23 lakhs (2025 - ' 2,535.01 Lakhs) against an aggregate current liability of ' 10,602.77 lakhs (2025 -' 8,044.01 lakhs) and non-current liabilities due between one year to three years amounting to ' NIL lakhs (2025 - NIL) and non-current liabilities due after three years amounting to NIL (2025 - NIL) on the reporting date. Further, while the company's total equity stands at ' 44,653.60 Lakhs (2025 - ' 34,192.35 Lakhs), it has non-current borrowings of ' 61.82 lakhs (2025 - ' 32.64 Lakhs). In such circumstances, liquidity risk or the risk that the company may not be able to settle or meet its obligation as they become due does not exist.

NOTE 42: DIVIDEND:

The company has declared and paid dividend for the FY 2024-25 in the Annual General meeting of the company held on 5^th August 2025. The dividend so declared has been accounted and adjusted during the year towards the brought forward balances of the profit & loss account.

NOTE 43: SEGMENT INFORMATION:

The company operate's in a single segment therefore segment-wise reporting is not applicable for the company as required in accordance with Ind AS 108 for the year ended 31.03.2026.

NOTE 44: CONTINGENT LIABILITIES:

44.1 The company has received assessment order from the GST department for demand for financial year 2023-24 for ' 359.47 Lakhs towards the disallowance of the GST input credit claimed for the IPO expenses and has also raised demand towards the penalty for ' 359.47 Lakhs against the said disallowances and has also raised demand of ' 0.23 Lakhs towards inadmissible input tax credit & demand of ' 0.23 Lakhs towards penalty for such inadmissible input tax credit. The said demand has been raised by GST department vide Order dated 30.03.2026. The company is in process of filing appeal with the higher authority related to the demand so raised by the assessing officer.

44.2 The company has further received assessment order from the GST department for demand for financial year 2019-20 for ' 136.18 Lakhs which includes ' 43.38 Lakhs of CGST & SGST towards the tax not paid on consideration received as per registered agreement with respect to transfer or assignment of lease right by transferor to any person and ' 49.42 Lakhs for the Interest on the GST liability so determined & penalty of ' 43.38 lakhs. The said demand has been raised by GST department vide order dated 27.03.2026. The company is in process of filing appeal with the higher authority related to the demand so raised by the assessing officer.

44.3 The company has received assessment order from the income tax department towards the assessment dues for the aY 2018-19 for ' 4,175.89 Lakhs towards the waiver of interest on working capital loans by the financial institution at the time of one-time settlement amounting to ' 6,091.81 Lakhs has been added in the total income of the company under the head "undisclosed business income" for the AY 2018-19. Penalty proceedings under sections 270A has been initiated for under reporting of income. The said demand has been raised by income tax department vide order dated 25.03.2026. The company has filed appeal with Commissioner of Income Tax (Appeals) on dated 8^th April 2026 and the matter is subjudice.

44.4 The company has received notice of demand from the Panvel muncipal corporation towards the property tax of ' 72.10 Lakhs for the FY 2025-26 vide their notice dated 16.02.2026. The management is producing the the documents related to the payment of the property tax of earlier year to the then Gram Panchayat authority therefore the muncipal corporation should not charge the additional amount as arrear but the matter is still pending to conclude till the date of the balance sheet.

NOTE 45: OTHER DISCLOSURES:

45.01 In the opinion of the Board of Directors, the current assets are approximately of the value stated if realized in the ordinary course of business. The provisions for all known liabilities are adequate and are not in excess of the amount considered reasonably necessary. Sundry debtors and creditors balances which are not receivable or payable due to the operational reasons, has been written off or written back during the year and accounted accordingly. Further the company has accounted provision for the doubtful debts during the year where there is contingencies of the recovery of the book debts.

45.02 Additional liability if any, arising pursuant to respective assessment under various fiscal statues, shall be accounted for in the year of

assessment. Also interest liability for the delay payment of the statutory dues, if any, has been accounted for in the year in which the same are being paid.

45.03 Balances of debtors & creditors & loans & advances taken & given are subject to confirmation and consequential adjustments, if any. Debtors & creditors balances has been shown separately and the advances received & paid from/to the parties is shown as advance from customers and advance to suppliers.

45.04 The company has not traded or invested in crypto currency or virtual currency during the financial year.

45.05 As per informations available, the company has no transactions which are not recorded in the books of accounts and which are surrendered or disclosed as income during the year in the tax assessment or in search or survey or under any other relevant provisions of the Income Tax Act, 1961.

45.06 The company do not hold any benami property and no proceedings has been initiated or pending against the company for holding any benami property under Benami Transactions (Prohibition) Act 1988 and rules made there under.

45.07 Title deeds of all the immovable properties held by the company are in the name of the company. No revaluation of the property, plant and equipment's and intangible assets held by the company were done during the previous year, as the management is in the opinion that the same is not material and the same will be reviewed in the subsequent years. Further the company is not holding any leased assets which are required to be disclosed separately.

45.08 The company has outstanding term loan availed from Kotak Mahindra Bank at the year ended against hypothecation of vehicle and the charge for the same is duly registered with Registrar of Companies within statutory period.

45.09 The company has not been declared as willful defaulter by any bank or financial Institution or any other lender during the financial year.

45.10 The company do not had any transactions during the year with the companies which are struck off under section 248 of the companies Act 2013.

45.11 As per the informations & details available on records and the disclosure given by the management, the company has complied with the number of layers prescribed under clause

(87) of section 2 of the companies Act read with the Companies (Restriction on number of layers) Rules 2017.

45.12 As per the informations & details available on records and the disclosure given by the management, the company has not advanced, loaned or invested to any other person or entity or foreign entities with the understanding that the intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company or provided any guarantee, security or like to or on behalf of the company. Further the company has not received any funds from any person, entity including the foreign entity with the understanding that the company shall directly or indirectly lend, invest or guarantee, security or like manner on behalf of the funding party.

45.13 There are no amounts due to be credited to investor education and protection fund in accordance with section 125 of the companies act, 2013 as at the year end.

45.14 The Company has over due receivables against the export realization of goods for INR equivalent to 3,921.57 Lakhs (PY: 5,337.13 Lakhs) due to the various business reasons. As per the information's available and as intimated by the management, the company is in process of availing extension from RBI through its authorized dealers for the overdue realizations however till the date of the balance sheet such extension has not been made.

45.15 The company's fixed assets which has been impaired and has become non useful to the company and which has disposed during the year, has been recognised in profit & loss account for loss on impirement of such assets.

45.16 With respect to disclosures pursuant to section 186 (4) of the Companies Act, 2013 the company has not given any amount in the nature of loan nor has provided any guarantee or security to any entity in connection with loan during the year. The company has made investment in a wholly owned Indian subsidiary during the year. Further the investment in foreign subsidiary has been impaired and has been recognised to the profit & Loss account during the year as the said foreign subsidiary has been strike off and become non operation during the period.

45.17 No scheme of arrangement has been approved by the competent authority in terms of sections 230 to 237 of the companies act, 2013.

NOTE 46:

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs and decimal thereof as per the requirements of schedule III to the companies act, 2013, unless otherwise stated.

NOTE 47:

The financial statements has been authorized for issue by the board of directors on dated 5^th May 2026.

NOTE 48: EVENTS AFTER REPORTING DATE:

The Board of Directors at their Board meeting held on 5^th May, 2026 have recommended final dividend of ' 0.40 (20%) per fully paid up equity share of ' 2/- each for the financial year ended 31^st March, 2026, subject to approval of shareholders at ensuing Annual General Meeting of the Company.

NOTE 49:

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