2.10. Provisions and contingences
The Company recognises a provision when there is present obligation as a result of a past event that probably requires an outflow
of resources and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best
estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks
and uncertainties surrounding the obligation.
In cases where the available information indicates that the loss on the contingency is reasonable possible but the amount of loss can not
be reasonably estimated, a disclosure is made in the financial statements.
Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. If it is no longer probable that
the outflow of resources would be required to settle the obligation, the provision is reversed.
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 may arise from past events but probably will not require an outflow of resources to settle the obligation.
When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resource is remote, no provision
or disclosure is made.
Contingent assets are neither recognised nor disclosed in the financial statements.
2.11. Leases
The Company has adopted Ind-AS 116 -Leases.
At the inception of the contract, the Company assesses whether a contract contains a lease. A contract is, or contains, a lease if the
contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For the purpose
of identifying if a contract contains a lease, the Company assesses whether:
( i) the contract involves the use of an identified asset
(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease, and
(iii) the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU”) and a corresponding lease liability
for all lease arrangements in which it is a lessee, except in case of low value leases and short term leases (a term of less than twelve
months) wherein the lease payments are recognized as an operating expense on a straight-line basis over the term of the lease.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are
discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates.
Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and
lease liabilities includes these options when it is reasonably certain that they will be exercised. Lease liabilities are remeasured with a
corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension
or a termination option.
The right-of-use assets are initially recognized at cost. Cost includes the initial amount of the lease liability adjusted for any lease
payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are
subsequently measured at cost less accumulated depreciation and impairment losses.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the useful life of the underlying asset or
the lease term whichever is shorter. Right of use assets are tested for impairment whenever events or changes in circumstances indicate
that their carrying amounts may not be recoverable.
Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing
cash flows.
2.12. Taxes on Income
(i) Current Tax
Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act, 1961 in respect
of taxable income for the year and any adjustment to the tax payable or receivable in respect of previous years.
(ii) Deferred Tax
Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying
amounts for financial reporting purpose.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
Where the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a business combination
and, at the time of the transaction, affects neither the accounting profit nor taxable profit and loss.
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused
tax losses. Deferred 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 of unused tax credits and unused tax losses can be utilised, except:
Where the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability
in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable
profit and loss.
The carrying amount of deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer probable that
sufficient taxable profit will be available or allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets
are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow
the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the
liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date.
Deferred tax relating to items recognised outside Profit & Loss is recognised outside Profit & Loss (either in other comprehensive income
or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or other equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current
tax liabilities and the deferred taxes relate to the same taxable entity and the same tax authority.
2.13. Earnings per share
The Company reports basic and diluted earnings per equity share. Basic earnings per equity share have been computed by dividing net
profit / loss attributable to the equity shareholders for the year by the weighted average number of equity shares outstanding during
the year. Diluted earnings per equity share have been computed by dividing the net profit attributable to the equity shares holders after
giving impact of dilutive potential equity shares for the year by the weighted average number of equity shares and dilutive potential equity
shares outstanding during the year, except where the results are anti-dilutive.
2.14. Segment reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker
(CODM). The Managing Director of the Company has been identified as the CODM as defined by Ind-AS 108 Operating Segments, who
assesses the financial performance and position of the Company and makes strategic decisions.
The Company is dealing primarily in investment of shares and hence it is single segment company and segment reporting is not
applicable on the Company.
2.15 Cash Flow Statement
Cash flows are reported using the indirect method, prescribed in IND AS -7 whereby profit/(loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
The cash flow from operating, financing and investing activities of the company are segregated based on the available information.
Description of nature and purpose of each reserve
General reserve
General reserve is created from time to time by way of transfer profits from retained earnings for appropriation purposes. General reserve
is created by a transfer from one component of equity to another and is not an item of other comprehensive income.
Retained earning
Retained earnings are the profits that the Company has earned till date, less any transfer to general reserves, dividends and other
distributions made to the shareholders.
Statutory reserve
As per Section 45-IC(1) of the Reserve Bank of India Act, 1934, every non-banking financial company shall create a reserve fund and
transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account and before any
dividend is declared.
FVTOCI Equity investment reserve
The Company has elected to recognise changes in the fair value of investment in equity shares in other comprehensive income. These
changes are accumulated within the FVTOCI investment reserve within equity. The Company will transfer amounts from the said reserve
to retained earnings when the relevant equity shares are de-recognised.
(6) Terms and conditions
(i) All transactions with related parties are conducted at arm's length price under normal terms of business.
(ii) Transactions related to sale of assets are based on independent valuation report. Transactions related to acquisition/sale of investments
are based on market value of shares. Transactions relating to rental and license fees are as per related agreements. All other transactions
are made on normal commercial terms and conditions.
Note 38. Financial instruments - fair value and risk management
i. Valuation principles
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most
advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is
directly observable or estimated using a valuation technique. In order to show how fair values have been derived, financial instruments
are classified based on a hierarchy of valuation techniques, as explained below:
*The Company has not disclosed fair value financial instruments carried at amortised cost such as trade payables, borrowings and other
financial liabilities because their carrying amounts are a reasonable approximation of fair value.
m- Measurement of fair values
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value
hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable inputs.
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
Note 39. Financial risk management
Introduction and risk profile
The Company is a Non Banking Financial Company registered with Reserve Bank of India.
The Company's audit committee oversees how management monitors compliance with the Company's risk management policies
and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The
audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk
management controls and procedures, the results of which are reported to the audit committee.
i. Credit risk
Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations
and arises partially from the investments.
Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and responsibilities for originators
and approvers. All credit exposure limits are approved by Board of Directors. The Company follows a process of time-to-time revisiting
the credit policy and processes, on the basis of experience and feedback.
The carrying amount of financial assets represent the maximum credit risk exposure. The maximum exposure to credit risk at the
reporting was:
Credit risk relating to cash and cash equivalent and bank deposits is managed by only accepting banks and financial institution
counterparties after evaluating parameters like capital adequacy, non- performing assets, profitability and liquidity ratios and net worth
and by diversifying bank deposits in different banks across the country.
ii. Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that
are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible,
that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions in a timely manner,
without incurring unacceptable losses or risking damage to the Company's reputation.
The Company's primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and cash flow from
operating activities. As at 31 March 2026, the Company had a working capital of ' 16770.10 Lakhs (31 March 2025: ' 8252.59 Lakhs)
including cash and cash equivalent of ' 527.81 Lakhs (31 March 2025: ' 598.06 Lakhs).
Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide the necessary
funds to cover its short term liquidity needs.
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted,
and include estimated interest payments and exclude the impact of netting agreements._
iii. Market risk
Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices, which will affect
the Company's income or the value of its holdings of financial instruments. The objective of market risk management is to manage and
control market risk exposures within acceptable parameters, while optimising the return.
iii. a) Interest rate risk
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
interest rates. The Company is not exposed to interest rate risk from the external borrowings that are used to finance their operations.
iii. b )Market price risk
The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares. The price risk arises
due to uncertainties about the future market values of these investments. The Company has laid policies and guidelines which it adheres
to in order to minimise price risk arising from investments in mutual funds and equity shares.
iv. Legal and operational risk
Legal risk
Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes performance by the end
user or its counterparty under the terms of the contract or related netting agreements. There is currently no legal risk on the company.
Operational risk
Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in the underlying processes.
The framework, at its core, has the following elements:
1. Well defined Governance Structure.
2. Regular workshops and training for enhancing awareness and risk culture.
3. Operational policy.
Note 40. Capital management
The Company actively manages it's capital base to maintain adequacy of capital to cover risks inherent to it's business. The objective is
to maintain appropriate levels of capital to support it's business strategy taking into account the regulatory, economic and commercial
environment. As a non banking finance company, the R.B.I requires the Company to maintain a minimum capital to risk weighted assets
ratio ("CRAR") consisting of Tier I & Tier II capital of 15% of agreegate risk weighted assets. The Company endeavours to maintain a
higher capital base than the mandated regulatory capital at all times.
Note 42. Commitments and contingencies
There is no commitment or contingency at the end of financial year 2025-26
Note 43. Operating segment
The Company is engaged in the business of holding investments in various entities within the group, which are directly or indirectly
either controlled or significantly influenced by the Company, and investing funds into other relevant securities with the objective to earn
reasonable return. Assets and liabilities of a tea factory acquired in 2023-24 has been disposed off during the year.
Note 45: Expenditure in foreign currency
The Company has not incurred any expenditure in foreign currency for the year ended March 31, 2026 and March 31, 2025.
Note 46: Leases
The Company has incurred lease payment of ' 4.80 Lakh for the year ended March 31, 2026 & ' 4.80 Lakh for March 31, 2025.
c. There is no proceeding under Benami Transactions (Prohibition) Act, 1988 and rules made thereunder against the company as on date
of the financial statement.
d. The Company has not done any revaluation of it's plant, property & equipments in current or previous financial year.
e. The Company does not have any intangible asset under development in current or previous financial Year.
f. The Company has not created any charge on any of it's movable or immovable property. Therefore the requirement of registering
charges with Registrar of Companies does not arise.
g. All transactions done by the Company during the current or previous financial year have been duly recorded in it's books of accounts
h. The Company has not done any transaction with struck off companies under section 248 of the companies Act, 2013.
i. The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The Companies Act.
j. No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds)
by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate
Beneficiaries).
k. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether,
directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
l. The Company has fully complied with the number of layers prescribed under Clause 87 of Section 2 of the Act read with Companies
(Restriction of number of layers) Rules 2017
m. The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial year.
Note 49. Information as per RBI Circulars
a. Disclosure as per Master Direction - Reserve bank of India (Non-Banking Financial Companies - Financial statement presentation
and disclosures) Directions, 2025 dated November 28, 2025.
i) As per the above mentioned direction issued by Reserve Bank of India, NBFCs that are part of a common group or are floated
by a common set of promoters shall be viewed on consolidated basis for RBI caterigorisation and compliance purpose and
accordingly the following three NBFC companies are controlled by the same group of promoter whose asset value is more than
Rs 1000 crore as on 31 March, 2026 and all disclosures have been given accordingly:
1) Dhunseri Investments Limited (RBI Reg. No: 05.06909 dated 15 July, 2011)
2) Mint Investments Limited (RBI Reg. No: 05.02262 dated 16 May, 1998)
3) Naga Dhunseri Group Limited (RBI Reg. No: 05.01813 dated 13 April, 1998)
ii) The company has not obtained any registration from any financial sector regulator during the current or previous financial year,
hence the same is not applicable to the company
iii) No penalty has been levied on the company by any regulator.
iv) The company has no joint venture operation and neither it's subsidiary nor it's associate company is negaged in business as
NBFC in India
v) The company has no dealing or operation in derivatives and interest rate swaps / forward rate agreements. Hence no disclosure
is required in this regard.
vi) Matuirity Pattern of assets and liabilities of the company is given in note no 47
vii) No prior period adjustment was made in current or previous financial year.
viii) The company has not granted any loan during the year.
ix) The company has no non performing asset during the current or previous year, hence no disclosure for "NPA" has been made
c. The company has not done any securitisation of assets during current or previous financial year. Therefore relevant disclosure
requirements as per RBI circulars / notifications are not applicable.
d. No loan or non-performing asset has been transferred to or from the company in current or previous financial year. Therefore
disclosure requirements as per relevant RBI circulars / notifications are not applicable
e. Other disclosure:
Note 51. On 21 November 2025, the Government of India notified four new Labour Codes ("Labour Codes”) consolidating twenty-nine
hitherto existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the
financial impact due to these Labour Codes. The company has estimated and accounted for incremental liability pertaining to employee
benefit obligations, which is not material to the Standalone financial results. The company continues to monitor the developments
pertaining to enactment of these Labour Codes and evaluate impact, if any.
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