2.2.7 Provisions and Contingent liabilities

A provision is recognised when the Company has a present obligation (legal or constructive) as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable
estimate can be made.

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. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying
amount is the present value of those cash flows (when the effect of the time value of money is material). These are
reviewed at each balance sheet date and adjusted to reflect the current best estimates.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third
party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the
amount of the receivable can be measured reliably.

Contingent liability is disclosed for (i) Possible obligations which will be confirmed only by future events not wholly
within the control of the Company or (ii) Present obligations arising from past events where it is not probable that an
outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation
cannot be made. The Company does not recognize a contingent liability but discloses its existence in the Financial
Statements. Contingent assets are only disclosed when it is probable that the economic benefits will flow to the entity.

2.2.8 Cash and cash equivalents and Cash Flow Statement

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash in hand,
cash with cash collecting agents, balances with banks in current accounts and balances with credit card companies
and wallets, highly liquid investments with original maturities of three months or less that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes in value, and book overdrafts. Bank
overdrafts are shown within borrowings in current liabilities in the balance sheet.

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future cash receipts or payments. The cash
flows from operating, investing and financing activities of the Company are segregated based on the available
information."

2.2.9 Earnings per share (EPS)

Basic earnings per share is computed by dividing the profit / (loss) after tax by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share is computed by dividing the profit / (loss)
after tax as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential
equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share
and the weighted average number of equity shares which could have been issued on the conversion of all dilutive
potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net
profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as
at the beginning of the period, unless they have been issued at a later date. The dilutive potential equity shares are
adjusted for the proceeds receivable had the shares been actually issued at fair value (i.e. average market value of
the outstanding shares). Dilutive potential equity shares are determined independently for each period presented.
The number of equity shares and potentially dilutive equity shares are adjusted for share splits / reverse share splits
and bonus shares, as appropriate.

2.2.10 Operating Cycle

Based on the nature of products / activities of the Company and the normal time between acquisition of assets and
their realisation in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the
purpose of classification of its assets and liabilities as current and non-current.

2.2.11 Borrowing Cost

Borrowing costs consist of interest, ancillary and other costs that the Company incurs in connection with the borrowing
of funds and interest relating to other financial liabilities. Borrowing costs also include exchange differences to the
extent regarded as an adjustment to the borrowing costs.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes
a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset.
All other borrowing costs are expensed in the period in which these occur.

2.2.12 Dividend and Interest Income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to
the Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by
reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly
discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying
amount on initial recognition. Dividend Income is accounted for when right to receive it is established.q

Notes:

a. Promoters mentioned above is as per Companies Act, 2013

b. PKS family trust shares are reflected in the name of managing trustee Gautam Saraogi and VKS Family Trust
shares are reflected in the name of managing trustee Rahul Saraogi."

(iv) The Board of Directors vide their meeting dated January 29, 2026 approved buyback of equity shares for an
amount not exceeding 14.13 Lakh equity shares representing 2.62% of the total number of Equity Shares in
the total paid-up Equity Share capital of the Company at a price of H 460 per equity share for an amount not
exceeding H 6,499.80 excluding transaction costs. The Company concluded the said buyback of 14.13 Lakh equity
shares of H 10 each at the buyback price of H 460 per share and the total buyback amount of H 6,499.80. The
settlement date for the said buyback was February 20, 2026. The shares so bought back were extinguished and
the issued and paid up capital stands amended accordingly. Further, the Company incurred a buyback expense
amounting to H 119.50.

Notes:

(a) Securities premium account is used to record the premium on issue of shares and it will be used in accordance
with the provisions of the Companies Act, 2013.

(b) Retained earnings represent the amount of accumulated earnings / deficit of the Company, and re-measurement
gains/losses on defined benefit plans. The amount that can be distributed by the Company as dividends to its
equity shareholders is determined based on the financial statements of the Company and also considering the
requirements of the Companies Act, 2013. Thus, the amounts reported above are not distributable in its entirety.

(c) The capital redemption reserve account may be applied by the company, in paying up unissued shares of the
company to be issued to members of the company as fully paid bonus shares in accordance with the provisions
of the Companies Act, 2013.

14.1 The working capital facility from Ratnakar Bank Limited comprising of H 8,000 Lakhs (March 31, 2025: H 8,000
Lakhs), from ICICI Bank for H 6,000 Lakhs (March 31,2025: H 6,000 Lakhs), from Axis Bank for H 4,000 Lakhs
(March 31,2025: H4,000 Lakhs) and from HDFC Bank for H 2,500 Lakhs (March 31,2025: H 2,500 Lakhs) has been
obtained. The facility has been availed for a tenure of 12 months.

14.2 The facility is secured by way of an exclusive charge on the entire current assets and movable property, plant
and equipment of the Company, both present and future.

14.3 As at March 31,2026 Interest is charged at 0.15% above 1 year MCLR on a monthly basis in case of RBL Bank,
at 1.50% above 6 month MCLR in case of ICICI Bank, at 0.25% above 1 month MCLR in case of Axis Bank and at
WCDL 8.75% linked to 1 month T Bill with monthly reset in case of HDFC Bank.

14.4 The cash credit availed has been utilised to meet the Working Capital requirements of the Company.

14.5 There are no differences between the financial information filed with the banks and books of accounts for
the first three quarters of the financial year ended March 31,2026. The Company is in the process of filing the
statement for the 4^th quarter of financial year ended March 31, 2026.

14.6 The Company does not have any charges or satisfaction of charge which is yet to be registered with the Registrar
of Companies beyond the statutory period.

14.7 The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

The Company's senior management oversees the management of these risks. The senior professionals
working to manage the financial risks and the appropriate financial risk governance framework for the
Company are accountable to the Board of Directors.

This process provides assurance to Company's senior management that the Company's financial risk-taking
activities are governed by appropriate policies and procedures and that financial risks are identified, measured
and managed in accordance with Company policies and Company's risk objective.

The management reviews and agrees policies for managing each of these risks which are summarized as
below:

(a) Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market prices comprises three types of risk: currency rate risk, interest rate risk and
other price risks, such as equity price risk. Financial instruments affected by market risks include borrowings,
security deposits, investments and foreign currency receivables and payables. The sensitivity analyses in the
following sections relate to the position as at March 31,2026. The analyses exclude the impact of movements
in market variables on; the carrying values of gratuity and other post-retirement obligations; provisions; and
the non-financial assets and liabilities. The sensitivity of the relevant Profit and Loss item is the effect of the
assumed changes in the respective market risks. This is based on the financial assets and financial liabilities
held as of March 31,2026.

i) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign
exchange rates relates primarily to its operating activities (when revenue or expense is denominated in
foreign currency). The Company evaluates exchange rate exposure arising from foreign currency transactions
and follows established risk management policies.

Foreign currency risk sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD exchange rates,
with all other variables held constant. The impact on the profit before tax is due to changes in the fair value
of monetary assets and liabilities. Foreign currency exposures recognised by the Company that have not
been hedged by a derivative instrument or otherwise are as under:

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 between willing parties, other than in a forced or liquidation sale. The
following methods and assumptions were used to estimate the fair values:

1. The Company has disclosed financial instruments such as comprise of lease liabilities, trade payables
and other financial liabilities, trade receivables, other financial assets, cash and cash equivalents and
bank balances other than cash and cash equivalents at carrying value because their carrying values are a
reasonable approximation of the fair values due to their short term nature.

2. Financial instruments with fixed and variable interest rates are evaluated by the Company based on
parameters such as interest rates and individual credit worthiness of the counter party.

C) Financial Risk Management

The Company's principal financial liabilities, comprise of lease liabilities, trade payable and other financial
liabilities.

The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal
financial assets include investments, trade receivables, cash and cash equivalents and bank balances other
than cash and cash equivalents that are derived directly from its operations.

The Company's financial risk management is an integral part of how to plan and execute its business
strategies. The Company is exposed to market risk, credit risk and liquidity risk.

(b) Credit Risk :

Credit Risk is the risk that the counter party will not meet its obligation under a financial instrument, leading to
a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables)
and from its financing activities, including deposits with banks, foreign exchange transactions and other
financial instruments.

i) Trade Receivables

Sales made through Exclusive Brand Outlets are made on cash and carry basis. In case of other channels,
Customer credit risk is managed by each business unit subject to the Company's established policy,
procedures and control relating to customer credit risk management. Credit quality of a customer is assessed
based on an extensive credit rating review and individual credit limits are defined in accordance with this
assessment. The Company regularly monitors its outstanding customer receivables.

An impairment analysis is performed at each reporting date on trade receivables by lifetime expected credit
loss method based on provision matrix. The maximum exposure to credit risk at the reporting date is the
carrying value of each class of financial assets. The Company evaluates the concentration of risk with respect
to trade receivables as low, as a majority of its trade receivable balance is receivable from Large Format
Stores('LFS'), who are well established business entities, and have been regular in their payments over the
history of the business.

- 10,573.15

ii) Financial instruments and cash & bank deposits

Credit risk from balances with banks and financial institutions is managed by the Company's finance
department in accordance with the Company's policy. Investments of surplus funds are made in bank
deposits and mutual funds. The limits are set to minimize the concentration of risks and therefore mitigate
financial loss through counter party's potential failure to make payments.

The Company's maximum exposure to credit risk for the components of the balance sheet at March 31,2026
is the carrying amounts which are given below. Trade Receivables and other financial assets are written off
when there is no reasonable expectation of recovery, such as debtor failing to engage in the repayment plan
with the Company.

D) Fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments
by valuation technique:

Level 1 (L-1): Quoted (unadjusted) prices in active markets for identical assets or liabilities

Level 2 (L-2): Other techniques for which all inputs that have a significant effect on the recorded fair value are
observable, either directly or indirectly

Level 3 (L-3): Techniques that use inputs that have a significant effect on the recorded fair value that are not
based on observable market data.

During the year, there are no transfer amongst levels for financial asset & liabilities.

This note provides information about how the Company determines fair value of various financial assets
and liabilities.

(b) Defined Benefit plans:

The Company operates a gratuity plan covering qualifying employees. The benefit payable is calculated as per
the Payment of Gratuity Act, 1972 and the benefit vests upon completion of five years of continuous service and
once vested it is payable to employees on retirement or on termination of employment. In case of death while
in service, the gratuity is payable irrespective of vesting. The Company makes annual contribution to the group
gratuity scheme administered by the Life Insurance Corporation of India.

In respect of the plan, the most recent actuarial valuation of the plan assets and the present value of the defined
benefit obligation were carried out as at March 31,2026. The present value of the defined benefit obligation, and
the related current service cost and paid service cost, were measured using the projected unit cost credit method.

These plans typically expose the Company to actuarial risks such as: investment risk, interest risk, longevity risk
and salary risk.

Investment risk : The present value of the defined benefit plan liability is calculated using a discount rate which is
determined by reference to market yields at the end of the reporting period on government bonds. When there
is a deep market for such bonds; if the return on plan asset is below this rate, it will create a plan deficit.

Interest risk: A decrease in the bond interest rate will increase the plan liability.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best
estimate of the mortality of plan participants both during and after their employment. An increase in the life
expectancy of the plan participants will increase the plan's liability.

Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries
of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

(x) Expected contributions to post-employment benefit plans for the year ending March 31,2026 are H 85 Lakhs.

(xi) The weighted average duration of the defined benefit obligation is 3.30 years (March 31, 2025 - 5.97 years).

(d) Other long term benefits

(i) The leave obligations cover the Company's liability for earned leave.

(ii) The total provision for compensated absences amounts to H 85.70 and Nil as at March 31,2026 and March
31,2025.

(iii) The provision classified as current amounts to H 50.80 and Nil as at March 31, 2026 and March 31, 2025.
The current classification is resulting from the entity's expectation to settle the full amount of current leave
obligation in the next 12 months as determined by a qualified actuary.

(e) Impact due to Labor code

On November 21, 2025, the Government of lndia notified four Labour Codes, effective immediately, replacing
the existing 29 labour laws. In accordance with Ind AS 19 - Employee Benefits, changes to employee benefit plans
arising from legislative amendments are treated as plan amendments, requiring immediate recognition of past
service cost in the Statement of Profit and Loss. This approach is consistent with the guidance issued by the
Institute of Chartered Accountants of India.

The implementation of the Labour Codes has not resulted in a material increase in the provision for defined
benefit obligation which has been recognised as an Employee benefit expense in the current reporting
period. The Company continues to monitor the finalisation of Central and State Rules, as well as Government
clarifications on various aspects of other Labour Codes, and will incorporate accounting treatment based on
these developments as required.

33 Segment Reporting

The Company is primarily engaged in the business of retail trade through retail and departmental stores facilities,
which in the terms of Ind AS 108 on 'Operating Segments', constitutes a single reporting business segment.

There are no material individual markets outside India and hence the same is not disclosed for geographical
segments for the segment revenues or results or assets.

Explanations to items included in computing the above ratios:

1. Current Ratio: Current Asset over Current Liabilities

2. Debt-Equity Ratio: Debt (includes Borrowings and Current & Non-Current Lease Liabilities) over total share
holders equity (including Reserves & Surplus)

3. Debt Service Coverage Ratio: Profit After Tax Interest on lease liabilities Depreciation Loss on sale of fixed
assets over Lease payments (prinicipal interest)

4. Return on Equity Ratio: Profit After Tax over average Equity (including Reserves & Surplus)

5. Inventory turnover ratio: Revenue over average Inventory

6. Trade Receivables turnover ratio: Revenue other than retail operations over average Trade Receivable

7. Trade payables turnover ratio: Purchases over average Trade Payable

8. Net capital turnover ratio: Revenue from operations over average working capital (working captial = current
assets - current liabilities)

9. Net profit ratio: Profit After Tax over Revenue from operations

10. Return on Capital employed: Profit Before Interest & Tax over Capital employed (Capital employed includes total
equity, borrowings and lease liabilities)

11. Return on investment: Interest income on fixed deposit with banks Mutual fund investment gain over average
investments (investments includes investments in mutual funds, margin money and other bank deposits)

35 No proceedings have been initiated during the year or are pending against the Company as at March 31, 2026
and as at March 31, 2025 for holding any benami property under Benami Property Transactions (prohibition)
Act, 1988.

36 Transactions and balances with companies which have been removed from register of Companies [struck off
companies] as at March 31, 2026 and March 31,2025 is Nil.

37 The Company has not traded / invested in Crypto currency or virtual currency during the financial year March 31,
2026 and March 31, 2025.

38 The Company has no layers, hence not required to comply with the number of layers prescribed under the
Companies Act, 2013, read with the Companies (Restriction on number of layers) Rules, 2017.

39 The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible
assets or both during the current or previous year.

40 The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

41 The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

42 The Company has no such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year 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).

43 The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and
the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.

44 The Company has not declared or paid any dividend during the year and has not proposed any final dividend for
the year.

45 No scheme of arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of
the Companies Act, 2013 and thus the disclosure is not applicable.

46 The Company has maintained the backup of the books of accounts on a daily basis on server situated in India.

47 There were no unclaimed or unpaid dividend during the previous years and hence no funds or shares required
to be transferred to Investor Education and Protection Fund.

48 The Company did not have any long term contracts including derivative contracts for which there were any
material foreseeable losses.

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

50 Approval of the Financial Statements:

The Board of Directors of the Company has reviewed the realisable value of all the current assets and has
confirmed that the value of such assets in the ordinary course of business will not be less than the value at
which these are recognised in the financial statements. In addition, the Board has also confirmed the carrying
value of the non-current assets in the financial statements. The Board, duly taking into account all the relevant
disclosures made, has approved these financial statements in its meeting held on April 30, 2026.