h) Provisions and Contingent Liabilities

A provision is recognized if, as a result of a past event, the Company has a present legal or
constructive obligation that is reasonably estimable, and it is probable that an outflow of
economic benefits will be required to settle the obligation. Provisions are determined by
discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability.

Contingent liabilities are not recognised but are disclosed by way of notes to the financial
statements, after careful evaluation by the management of the facts and legal aspects of
each matter involved. Contingent assets are neither recognised nor disclosed in the
financial statements.

i) Employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in
exchange of services rendered by employees is recognised during the period when the
employee renders the services. These benefits include salaries, bonus and performance
incentives.

Short Term 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. These benefits include salaries and wages,
bonus etc. The Company recognizes the undiscounted amount of short term employee
benefits expected to be paid in exchange for services rendered as a liability (accrued
expense) after deducting any amount already paid.

Post-Employment Benefits
Gratuity

The liability or asset recognised in the balance sheet in respect of defined benefit gratuity
plans is the present value of the defined benefit obligation at the end of the reporting
period less the fair value of plan assets. The Company’s liability is actuarially determined
(using the Projected Unit Credit method) at the end of each year. The present value of the
defined benefit obligation is determined by discounting the estimated future cash outflows
using interest rates of government bonds. Remeasurement gains and losses arising from
experience adjustments and changes in actuarial assumptions are charged or credited to
equity in other comprehensive income in the period in which they arise.

j) Taxation

Income tax expense represents the sum of the tax payable and deferred tax.

Current Tax

The tax currently payable is based on taxable profit for the year. 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. The Company’s current tax is calculated using tax rates that have
been enacted or substantively enacted by the end of the reporting period.

Deferred Tax

Deferred tax is recognised on temporary timing 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. Deferred tax liabilities are generally recognised for all
taxable temporary differences. Deferred tax assets are generally recognised for all
deductible temporary differences to the extent that it is probable that taxable profits will
be available against which those deductible temporary differences can be utilised.

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 all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply
in the period in which the liability is settled or the asset is realized, based on the tax rates
(and tax laws) that have been enacted or substantively enacted by the end of the reporting
period.

The measurement of deferred tax liabilities and assets reflects the tax consequence that
would follow from the manner in which the Company expects, at the end of the reporting
period, to recover or settle the carrying amount of its assets and liabilities.

Deferred Tax Assets includes Minimum Alternate Tax (MAT) paid in accordance with the
tax laws in India, which is likely to give future economic benefits in the form of availability
of set off against future income tax liability. Accordingly, MAT is recognised as deferred

tax asset in the balance sheet when the asset can be measured reliably and it is probable
that the future economic benefit associated with the asset will be realized.

Current and deferred tax for the year

Current and deferred tax are recognised in the Statement of Profit and Loss, except
when they relate to items that are recognised in other comprehensive income or directly in
equity, in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity respectively.

k) Revenue recognition

Revenue is measured at fair value of the consideration received or receivable. Amount
disclosed as revenue inclusive of excise duty and net of returns. Value of proposed
insurance claim has been reduced from the cost of material consumed accordingly income
has been recognized in this year.

l) Cash flow statement

The Cash Flow Statement is prepared by using the indirect method set out in Indian
Accounting Standard-7 on 'Cash Flow Statements' and presents cash flows by operating,
investing and financing activities of the Company. The Company considers all highly
liquid financial instruments, which are readily convertible into cash, to be cash
equivalents.

m) Earnings per share

Basic earnings per share are calculated by dividing the net profit for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period .The weighted average number of equity shares outstanding
during the period and for all periods presented is adjusted for events, such as bonus
shares, other than the conversion of potential equity shares that have changed the
number of equity shares outstanding without a corresponding change in resources. For
the purpose of calculating diluted earnings per share, the net profit for the period
attributable to equity shareholders and the weighted average number of shares
outstanding during the period is adjusted for the effects of all dilutive potential equity
shares.

As required by Ind AS 19 actuarial valuation is done using Projected Unit Credit Method.
Under this method, only benefits accrued till the date of valuation (i.e. based on service upto
date of valuation) are to be considered for valuation. Present value of Defined Benefit
Obligation is calculated by projecting salaries, exits due to death, resignation and other
decrements, if any, and project the benefit till the time of retirement of each active member
using assumed rates of salary escalation, mortality & employee turnover rates. The expected
benefit payments are then discounted back from the future date of payment to the date of
valuation using the assumed discount rate.

'Service Cost' is calculated seperately in respect of benefit accured during the current period
using the same method as described above. However, instead of all accrued benefits, benefit
accrued over the current reporting period is considered.

During the year company has made provision of gratuity payable based on actuarial report as
per Indian Accounting Standard (Ind AS 19). In the previous years as the company has
reconsigned gratuity liability on the basis of Provision of Gratuity Act.

38. No provision for tax created during the year as there is no tax liability

39. The Company had received advance from customers prior to 31.03.2023, out of which
advances amounting to Rs.4.98 Lakhs are still payable in the books of accounts, and are
outstanding for more than 365 days. Consequently, these advances fall under the ambit of
Deemed Deposits as per the provisions of Companies act 2013. However the company has
classified it as advance from customers under current liabilities.

40. Related party disclosures

Pursuant to Indian Accounting Standard (Ind AS-24) on "Related Party Disclosures" issued by
the "Ministry of Corporate Affairs", Government of India following parties are to be treated as
related parties along with their relationships:

The management assessed that the fair values of short term financial assets and liabilities
significantly approximate their carrying amounts largely due to the short - term maturities of
these instruments. The fair value of the financial assets and liabilities is included at the
amount at which the instrument could be exchanged in a current transaction among willing
parties, other than in a forced or liquidation sale.

The Company maintains policies and procedures to value financial assets or financial
liabilities using the best and most relevant data available. In addition, the Company
internally reviews valuation, including independent price validation for certain instruments.

43. No transactions to report against the following disclosure requirements as notified by MCA
pursuant to amended Schedule III:

(a) Crypto Currency or Virtual Currency

(b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and
rules made thereunder

(c) Registration of charges or satisfaction with Registrar of Companies

(d) Relating to borrowed funds:

i. Wilful defaulter

ii. Utilisation of borrowed funds & share premium

iii. Borrowings obtained on the basis of security of current assets

iv. Discrepancy in utilisation of borrowings

44. Corporate Social Responsibility (CSR) is not applicable on the company.

45. The company has complied 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

46. The Company did not have any material transactions with companies struck off under
Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the
financial year.

47. During the year, the Company has not surrendered or disclosed any income in the tax
assessments under the Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961). Accordingly, there are no transaction which
are not recorded in the books of accounts.

48. Previous year figures have been regrouped/recast, where ever necessary, to confirm with this
year's presentation.

49. The figures have been rounded off to nearest rupees in lakhs