Note No. 10.01: The Company has not revalued any of its property, plant and equipment during the year ended March 31, 2026 and year ended March 31, 2025. Hence, the amount of change in gross and net carrying amount due to revaluation and impairment losses/ reversals is Rs. Nil.
Note No. 10.02 : The Company does not have any immovable properties as on March 31, 2026 and as on March 31, 2025
Note No. 10.03 : There is no capital work-in-progress as at 31st March 2026 and 31st March 2025. All capital additions have been completed and capitalised during the year.
Note No. 10.04 : There are no Intangible Assets under Development as at 31st March, 2026 and 31st March 2025.
BSE SCRIP CODE: 531582
Note No. 13.02 : There are no borrowings measured at FVTPL or designated at FVTPL Note No. 13.03 : The borrowings have been guaranteed by directors or promoters.
Note No. 13.04: The Company has not defaulted in repayment of principal and interest to its lenders.
Note No. 13.05 : The Company has utilised the funds raised from banks and financial institutions for the specific purpose for which they were borrowed.
Note No. 13.06 : The Company has taken a new loan from MAS Financial Services Limited. The sanction letter for the said loan was received on 31st March, 202 6; however, the actual disbursement was made on 06th April, 2026. The processing fee of T0.91 Lakhs charged by MAS Financial Services Limited has been included in the above figure of borrowings.
Note 17.04: Terms/ Rights attached to equity shares :
a) The Company has only one class of shares i.e. equity shares (including Forfeited shares) having a face value of Rs. 10. All these shares have the same rights and preferences with respect to payment of dividend, repayment of capital and voting. Dividend on equity shares whenever proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting.
b) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Note 17.05: Aggregate number of equity shares issued for consideration other than cash/ bonus shares issued during the period of five years immediately preceding the reporting date:
The aggregate number of equity shares issued for consideration other than cash/ bonus shares issued during the period of five years immediately preceding the reporting date were Nil (March 31, 2025: Nil).
D. Disclosures to Stock Exchange
The Company has duly made the required disclosures under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to BSE Limited at the time of creation of the pledge (filed on 09 December 2024) and on its release (filed on 06 September 2025).
Note No. 18.01 Statutory reserve :
a) Statutory reserve represents the reserve created as per Section 45IC of the RBI Act, 1934, pursuant to which a NonBanking Financial Company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit annually as disclosed in the Statement of Profit and Loss account, before any dividend is declared.
b) Company has made an appropriation of Rs. 6.35 Lakhs (P.Y. Rs. 5.14 Lakhs) out of the Profit for the year ended 31st March, 2026 to the statutory reserve pursuant to the requirement of RBI guidelines.
Note No. 18.02 Retained earnings
Retained earnings are the profits that the Company has earned till date, less any transfers to statutory reserve, general reserve, dividend distributed to shareholders and other appropriations.
Note No. 24.01: Current Year (FY 2025-26):
The impairment charge of Rs. 4.24 Lakhs on loans represents the net increase in the Expected Credit Loss (ECL) allowance measured in accordance with Ind AS 109 on the Company's loan portfolio carried at amortised cost. The ECL has been determined on a stage-wise basis (Stage 1 / Stage 2 / Stage 3) using Probability of Default (PD), Loss Given Default (LGD) and Exposure at Default (EAD) parameters. The ECL allowance so computed has been compared with the provisions required under the IRACP Norms prescribed by the Reserve Bank of India. The stage-wise reconciliation between Ind AS 109 provisions and IRACP-required provisions is presented in Note 7.03.
Note No. 24.02: Previous Year (FY 2024-25):
The credit of Rs. 12.98 Lakhs shown for the previous year represented a net reversal of impairment, comprising:
(a) Reversal of NPA provision of Rs. 13.59 Lakhs on a Doubtful asset (M/s Jai Girnari Infratech Private Limited) consequent to full recovery of dues during FY 2024-25; and
(b) Incremental Standard Asset provision of Rs. 0.62 Lakhs determined in accordance with the IRACP Norms of the Reserve Bank of India.
Note No. 25.02 : Defined Benefit Plans:
No provision has been made in accounts against liability in respect of future payment of Gratuity and Leave Encashment to employee as in the opinion of the management neither the Gratuity nor Leave Encashment apply to the company nor any employee qualifies for entitlement of such benefits.
30. P beryl securities limitedss have been regrouped, re-casted and re-arranged wh annual report 2025-26:o make them comparable with those of the current year.
31. Details of Dues To Micro And Small Enterprises As Defined Under The Micro, Small And Medium Enterprises Development Act, 2006:
As on the date of Balance Sheet, the Company has not received any communication from any of its suppliers regarding the applicability of Micro, Small and Medium enterprises development Act, 2006 to them, as such, information as required under the act cannot be complied and therefore not given for the year.
33. Disclosures as required by Ind AS 116 - 'Leases' are stated below
I. As Lessee
(A) Leases of Branch Premises
i. Ind AS 116 “Leases” is applied to all lease contracts. The company recorded the lease liability at the present value of the lease payments discounted at the incremental borrowing rate of the company and the right of use (ROU) asset at measured at the amount of the initial measurement of the lease liability.
ii. The following is the summary of practical expedients elected on initial application:
a. Applied a single discount rate to a portfolio of leases of similar assets in similar economic environment with a similar end date. Discount rate has been taken as the Incremental Borrowing rate of borrowings with similar tenure.
b. Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease term on the date of initial application.
c. Excluded the initial direct costs from the measurement of the right-of-use asset at the date of initial application.
f) The Total Cash Outflow for leases amount is Rs. 4.85 Lakhs in during the year (PY Rs. 2.58 Lakhs).
g) The Company does not face a significant liquidity risk with regard to its lease liabilities as the assets are sufficient to meet the obligations related to lease liabilities as and when they fall due.
(B) Leases of Short Period (Less than 12 months)
The leases of certain premises are less than 12 months. Hence same are considered as short term leases and are exempted from the scope of leases under Ind AS 116.
During the year, the Company charged off 1.35 Lakhs (PY 0.48 Lakhs) as rent expenses on short term leases.
II. As Lessor
There is no property given on rent by the company in the capacity of Lessor.
The Amount of Rs. 4.20 Lakhs is related to AY 2006-07 has been recorded in books of accounts, however interest there on amounted to Rs. 3.97 Lakhs have not been recorded in books of accounts.
37. Segmental Reporting:
The Company is engaged in the sole segment of NBFC Activity. Therefore, no separate segments within the Company as defined by IND AS-108(Operating Segments)
38. During the year, Borrowing Costs amounting of Rs. Nil has been capitalized to Property, Plant & Equipment's.
39. The Company has no subsidiary. Hence requirement of Consolidated Financial Statement is not applicable to the Company.
40. In the opinion of the Board, Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provision for Depreciation & amortization and all known liability are adequate. There is no Contingent liability other than stated.
41. Fixed Deposit aggregating to ^ 3.81 has been placed with the bank in the name of the Company; however, the same is under lien in favour of Universal Fingrowth Private Limited as security against
The said deposit continues to be recognised as part of “Note No. 06 Bank Balances Other Than above (1)” since the legal ownership of the deposit remains with the Company. Correspondingly, the related obligation has been recognised under “Note No. 14 Other Financial Liabilities”.
Further, as the arrangement represents a security deposit in substance, the corresponding amount has also been disclosed under “Note No. 08 Other Financial Assets - Security Deposits”. Upon maturity/release of lien, the related balances shall be adjusted/settled accordingly.
44. Details of Corporate Social Responsibility Expenditure:
As per Section 135 of the Companies Act, 2013, The Company is not liable to spend the specified amount on CSR activities as per the norms. Hence, no separate reporting is required for the same.
45. Contribution To Political Party
During the year ended March 31, 2026, the Company has not made any contribution to political party duly registered with election commission of India. There was no such contribution made during the financial year ended March 31, 2025.
46. The Company has been classified as loan and investment Company by the Reserve Bank of India pursuant to registration as a Non-Banking Finance Company and as per information of the management said registration as Non-Banking Finance Company with RBI is also continued for the year.
48. Draw down from reserves
The draw down from reserves was Rs. Nil for the financial years ended March 31, 2026 and March 31, 2025.
49. Disclosure as per IND AS 107, Financial Instruments
a. Capital management
The Company maintains an actively managed capital base to cover risks inherent in the business which includes issued equity capital and all other equity reserves attributable to equity shareholders of the Company.
The primary objectives of the Company’s capital management policy are to ensure that the Company complies with externally imposed capital requirements and maintains strong credit ratings and healthy capital ratios in order to support its business and to maximise shareholder value.
RBI requires NBFC’s to maintain a minimum capital to risk weighted assets ratio (CRAR) consisting of Tier I and Tier II Capital of 15% of their aggregate risk weighted assets.
c. Fair value of financial assets and financial liabilities that are not measured at fair value
Management considers that the carrying amounts of financial assets and financial liabilities recognized as lying in the Financial Statements
d. Defaults and breaches
There were no instances of default or breaches of covenant in respect of loan availed or debt securities issued during the financial years ended March 31, 2026 and March 31, 2025.
e. Risk management framework
The Company's business is subject to several risks and uncertainties including financial risks. The Company's documented risk management polices act as an effective tool in mitigating the various financial risks to which the business is exposed to in the course of their daily operations. The risk
concentration of credit risk and capital management. Risks are identified through a formal risk management programme with active involvement of senior management personnel and business managers. The Company’s risk management process is in line with the corporate policy. Each significant risk has a designated ‘owner’ within the Company at an appropriate senior level. The potential financial impact of the risk and its likelihood of a negative outcome are regularly updated. The risk management process is coordinated by the Management Assurance function and is regularly reviewed by the Company’s Audit Committee. The overall internal control environment and risk management programme including financial risk management is reviewed by the Audit Committee on behalf of the board. The risk management framework aims to:
• improve financial risk awareness and risk transparency
• identify, control and monitor key risks
• identify risk accumulations
• provide management with reliable information on the Company’s risk situation
• improve financial returns
a. Treasury management
The Company’s treasury function provides services to the business, co-ordinates access to domestic and international financial markets, monitors and manages the financial risks relating to the operations of the Company through internal risk reports which analyses exposures by degree and magnitude of risks. These risks include market risk (including currency risk and interest rate risk), credit risk and liquidity risk.
Treasury management focuses on capital protection, liquidity maintenance and yield maximization.
b. Financial risk
The Company’s Board of Directors approves financial risk policies comprising liquidity, foreign currency, interest rate and counterparty credit risk. The Company does not engage in the speculative treasury activity but seeks to manage risk and optimize interest through proven financial instruments.
c. Credit risk
Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults. The Company is exposed to credit risk for receivables, cash and cash equivalents, bank balances other than cash and cash equivalents, investments and loans.
Regarding trade and other receivables, the Company has accounted for impairment based on expected credit losses method as at 31 March, 2026 and 31 March, 2025 based on expected probability of default.
Deposits are with government departments and with lessor so chances of default are very minimal. For short-term loans and advances, counterparty limits are in place to limit the amount of credit exposure to any counterparty.
None of the Company’s cash equivalents are past due or impaired.
d. Liquidity risk
Liquidity risk arises from the Company’s inability to meet its cash flow commitments on time. Prudent liquidity risk management implies maintaining sufficient stock of cash and marketable securities. The Company maintains adequate cash and cash equivalents along with the need based credit limits to meet the liquidity needs.
Market risk that the fair value or future cash flows of financial instruments will fluctuate due to changes in market variables such as interest rates, foreign exchange rates and equity prices. The Company classifies exposures to market risk into either trading or non-trading portfolios and manages each of those portfolios separately.
The Company's exposure to each of these risks is assessed below:
i. Foreign Currency Risk: The Company does not have any financial assets or financial liabilities denominated in foreign currencies. Accordingly, the Company is not exposed to foreign currency risk.
ii. Other Price Risk (including Equity Price Risk): The Company does not hold any investments in equity instruments, mutual funds, or other financial instruments that are measured at fair value through profit or loss or at fair value through other comprehensive income. Accordingly, the Company is not exposed to equity price risk or other price risk.
ii. Interest Rate Risk: All borrowings of the Company are at fixed rates of interest as per the respective
loan agreements with the lenders. Similarly, all loans extended by the Company to its customers carry fixed rates of interest as per the respective loan documentation. The Company carries all its financial assets and financial liabilities at amortised cost; no financial instrument of the Company is measured at fair value through profit or loss.
In view of the above:
i. The Company is not exposed to cash flow interest rate risk on its financial assets and financial liabilities, as the future cash flows of these instruments do not fluctuate with changes in market interest rates; and
ii. The Company is not exposed to fair value interest rate risk as none of its financial instruments are measured at fair value.
Accordingly, a quantitative sensitivity analysis to demonstrate the impact of reasonably possible changes in interest rates, foreign exchange rates or other market prices on the Company's profit or loss and equity has not been presented, as such an analysis would not result in any material impact.
b) Disclosure related to project finance
The Company has not lent any funds for project finance activities during the financial years ended March 31, 2026 and March 31, 2025 nor has any recoverable balance as at the same dates.
Note: The above disclosure is guided by the RBI Directions RBI/DOR/2025-26/357 DOR.STR.REC.276/21.04.048/2025- 26 Reserve Bank of India (Non-Banking Financial Companies -
008/2025-26 - Reserve Bank of India (Non-Banking Financial Companies- Credit Facilities) Directions, 2025 both dated November 28, 2025, as amended from time to time.
c) Disclosures on Co-Lending Arrangements (CLAs):
The Company has not entered into any Co-Lending Arrangements (CLAs) during the year and, accordingly, there are no loans outstanding under such arrangements as at the reporting date.
d) Non-Fund Based (NFB) Credit Facilities
The Company has not provided any non-fund based credit facilities during the year. Accordingly, there were no outstanding exposures in respect of such facilities as at the reporting date.
e) Disclosures relating to securitization
The Company has not undertaken any securitisation transactions during the year and, accordingly, no disclosure is required in respect thereof as at the reporting date.
f) Disclosure of transfer of loan exposure
During the year, the Company has neither transferred nor acquired any loan exposures, including loans not in default and stressed loans, to or from any entity. Accordingly, the disclosure requirements prescribed in this regard are not applicable to the Company.
l) Currency futures
The Company has not participated in currency futures during the financial years ended March 31, 2026 and March 31, 2025.
m) Liquidity Disclosure
The disclosures relating to liquidity risk (Funding Concentration based on significant counterparty, Top 20 large deposits, Top 10 borrowings, Funding Concentration based on significant instrument/product, and Stock Ratios) as stipulated under the Scale Based Regulation (SBR) Framework are applicable to Non-Deposit Taking NBFCs with asset size of ^100 crore and above, Core Investment Companies, and all Deposit Taking NBFCs. Since the Company is a Non-Deposit Taking NBFC with a total asset size of ^1,889.61 lakhs (i.e., below ^100 crore), these disclosures are not applicable to the Company.
n) Credit Default Swaps
The Company has not participated in any Credit Default Swap (CDS) transactions during the financial years ended March 31, 2026 and March 31, 2025. Accordingly, no disclosure is required under this paragraph.
o) Comparison between provisions required under IRACP and impairment allowances made under Ind AS 109: Refer Note No. 07.03
54. Compliance with RBI Directions
i. Registration: The Company is registered with the Reserve Bank of India as a Non-Banking Financial Company under Section 45-IA of the Reserve Bank of India Act, 1934.
ii. Public Deposits: The Company has not accepted any public deposits during the year ended 31 March 2026.
iv. Prudential Norms: The Company has complied with the prudential norms relating to income recognition, asset classification, provisioning for bad and doubtful debts, capital adequacy and concentration of credit / investments as specified in the applicable RBI Master Directions for NBFCs in the Base Layer.
v. No Penalty / Strictures: No penalty has been imposed or strictures passed by the Reserve Bank of India during the year against the Company.
55. Institutional set-up for Liquidity Risk Management
The Board of Directors of the Company has an overall responsibility and oversight for the management of all the risks, including liquidity risk, to which the Company is exposed to in the course of conducting its business. The Board approves the governance structure, policies, strategy and the risk limits for the management of liquidity risk. The Board of Directors approves the constitution of the Risk Management Committee (RMC) for the effective supervision, evaluation, monitoring and review of various aspects and types of risks, including liquidity risk, faced by the Company. The meetings of RMC are held at quarterly interval. Further, the Board of Directors also approves constitution of Asset Liability Committee (ALCO), which functions as the strategic decision-making body for the asset-liability management of the Company from risk-return perspective and within the risk appetite and guard-rails approved by the Board. The main objective of ALCO is to assist the Board and RMC in effective discharge of the responsibilities of asset liability management, market risk management, liquidity and interest rate risk management and also to ensure adherence to risk tolerance/limits set up by the Board. ALCO provides guidance and directions in terms of interest rate, liquidity, funding sources, and investment of surplus funds. ALCO meetings are held once in a month or more frequently as warranted from time to time. The minutes of ALCO meetings are placed before the RMC and the Board of Directors in its next meeting for its perusal/ approval/ ratification.
a) The Code on Social Security 2020 (‘the Code’) relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020. The Code has been
rules for the Code on November 13, 2020.However, the effective date from which the changes are annlicahle is yet to be notified and rules for quantifying the financial impact are also not yet issued.
The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.
56. Undisclosed income
As explained by the management and records examined by us, no transactions were observed which remain unrecorded in the books of accounts that can materially impact the financial position of the company as at the balance sheet date. Further, no instances of transactions surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 which previously remain unrecorded, offered as income in the books of accounts during the year.
57. Details of Benami Property held:
During the year no proceedings have been initiated or pending against the company for holding any Benami Property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.
58. Events After Reporting Date
There were no material events occurring after the reporting date up to the date of approval of the financial statements which require adjustment to or disclosure in the financial statements in accordance with the applicable accounting standards.
59. Discontinued Operations
The Company had no discontinuing operations during the financial years ended March 31, 2026 and March 31, 2025.
60. Wilful Defaulter
The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority or any other lender.
61. Indications of impairment:
In the opinion of management ,there are no indications, internal or external which could have the effect of Impairing the value of assets to any material extent as at the Balance Sheet date requiring recognition in terms of Ind AS 36.
62. Relationship with Struck off Companies :
There are no transactions during the year with struck off Companies as at 31st March 2026.
63. Registration of charges or satisfaction with Registrar of Companies (ROC)
All charges are registered with ROC within the statutory period for the financial years ended March 31, 2026. No charges or satisfactions are yet to be registered with ROC beyond the statutory period.
64. Title deeds of Immovable Properties not held in name of the Company
The Company does not possess any immovable property whose title deeds are not held in the name of the Company during the financial year ended March 31, 2026 and March 31, 2025.
65. Details of Crypto Currency or Virtual Currency
The company has not traded or invested in crypto currency or Virtual currency during the year.
66. Utilisation Of Borrowed Funds And Share Premium
a) The Company has not advanced or loaned or invested funds (either borrowed funds or share
foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) 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 (Ultimate Beneficiaries) or
• provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;
b) The Company has not received any funds from any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Company shall :
• 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
• provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;
67. There is no scheme of arrangements has been approved during the year by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
68. The Company, has no long-term contracts including derivative contracts having material foreseeable losses as at 31 March 2026.
69. There is nothing to report with regard to Disclosure related to Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person since no such transaction.
70. Details of financing of parent company products:
The Company does not have any parent company. Hence no financing of Parent Company Products during the current and previous year
71. Details of Single Borrower Limit (SBL)/Group Borrower Limit (GBL) exceeded by the NBFC
There are no instances of exceeding the single and group borrowing limit by the Company during the current and previous year.
72. Disclosure of penalties imposed by RBI and other regulators:
No Penalties were imposed by RBI and other regulators during current and previous year.
73. Items Of Income And Expenditure Of Exceptional Nature
There are no items of income and expenditure of exceptional nature for the financial years ended March 31, 2026 and March 31, 2025.
74. Whistle- Blower Complaints
There were no whistle blower complaints received by the Company during the financial years ended March 31, 2026 and March 31, 2025.
75. Compliance with number of layers of companies
The Company has no subsidiaries or investments in other companies, accordingly compliance 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, are not applicable.
Note No. 76.01: Liquidity Coverage Ratio (LCR): The Company, being a Non-Deposit Taking NBFC in the Base Layer (asset size below Rs. 500 Crore) under RBI's Scale Based Regulation Framework, is not required to compute or disclose Liquidity Coverage Ratio as per the RBI Master Direction on Liquidity Risk Management Framework for NBFCs dated 4 November 2019. Accordingly, no LCR has been computed or disclosed in these financial statements.
Additional Disclosure
1 As defined in the Reserve Bank of India (Non-Banking Financial Companies - Acceptance of Public Deposits) Directions, 2025
2 Provisioning norms shall be applicable as prescribed in the Non- Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2025
3 All notified Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break
up / fair value / NAV in respect of unquoted investments shall be disclosed irrespective of whether they are classified as long term (amortised cost in the case of Ind AS) or current (fair value in the case of Ind AS) in (5) above.
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