1. INVENTORY:

Inventories are valued at lower of cost or net realizable value as declared by the company which is in line with requirement of AS 2 “Valuation of Inventories”. Stock is considered as taken Value and Certified by the company.

2. ACCOUNTING METHOD:

The accounting method employed is Mercantile Accounting System. Final Accounts has been prepared on Going Concern assumption and materiality aspect but some expenses due to their peculiar nature like electricity, telephone expenses, etc are accounted for, on cash basis.

3. REVENUE RECOGNITION:

Revenues are recognized in accordance with AS 9 on; Revenue Recognition’ following the accrual basis of accounting and using exclusive method i.e. excluding the amount of taxes. However, certain items, due to their nature, are recognized on cash basis. However, effect of the same does not seem to be material.

As per management’s representation, With regard to renewable energy generation business of the company, the incomes are booked on receipt basis due to their very nature.

9. VERIFICATION

We have verified the transactions recorded in the books with such of the documentary evidences as were made available and produced before us, where such documentary evidence were not available the entries authenticated by the party have been accepted.

10. INCOME TAX AND ITS IMPLICATIONS:

From Financial year 2021-22, the company had opted to pay tax as per sec.115BAA of Income Tax Act,1961.

11. All the Balances to the Debit and Credit of Debtors, Creditors and Unsecured Loans are subject to confirmation and reconciliations.

12. Accounting Ratios are calculated on the basis of figures shown in audited set of accounts, which are system generated and subject to our notes/remarks..

13. The figures have been rearranged and regrouped wherever considered necessary and rounded off to the nearest Rupee in Thousands.

14. There are no prior period expenses or there are no extra ordinary expenses debited to Profit & Loss account except nonmaterial item of erstwhile partnership firm.

15. EFFECT OF CONVERSION:

The corporate Entity comes into existence on 06.01.2022 after conversion of partnership firm. As per the representation of management, company is eligible for benefit of provisions of Section 47(xiii) and other provisions of Income tax Act, 1961 and estimates NIL tax liabilities on conversion. We are not aware of outcome of the same on the date of our report and hence we do not comment upon the same.

16. Figures of GST credit and liability as per books of account and as per GST Portal are subject to reconciliation by the Company.

17. REPORTABLE SEGMENTS:

As represented by Management, No business segment of the Company qualifies as separate reportable segments, and therefore segment wise reporting is not provided, even for renewable energy generation plants located at various places.

18. The above financial result and statements of assets and liabilities were reviewed by the audit committee and then approved by Board of directors at their respective meeting held on 22/05/2024.

19. Limited review has been given by auditor for the results for half year ended 30/09/2023 as per Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulations,2015.