(ix) Provisions & Contingent Liabilities:

The Company recognizes a provision when there is a present obligation (legal or constructive) as a result of a
past event and it is probable that an outflow of resources embodying economic benefits will be required to settle
the obligation and a reliable estimate can be made of the amount of the obligation.

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 arises from past events where it is either not
probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount
cannot be made.

(x) Earnings per share

Basic earnings per share is calculated by dividing the net profit / (loss) for the year attributable to the equity
shareholders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit / (loss) for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the
effects of all dilutive potential equity shares.

(xi) Dividend

Dividend to the equity shareholders is recognized as a liability in the Company’s financial statements in the
period in which the dividend is approved by the shareholders.

2. USE OF ESTIMATES AND JUDGEMENTS

The preparation of financial statements in conformity with Ind AS requires management to make judgments,
estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures
of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates could
result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in
future periods.

Estimates and underlying assumptions are reviewed at each reporting date. Any revision to accounting estimates
and assumptions are recognised prospectively i.e. recognised in the period in which the estimate is revised and
future periods affected.

Recognition and measurement of defined benefit obligations

The Co. has not recognized the accruing liabilities with respect to Retirement benefits as mentioned in revised
AS15(Employee Benefits) issued by ICAI. There being only one employee employed by the company, hence the
effect of the same on financial statement will not be material, however, the same cannot be ascertained due to
non-availability of actuarial valuation report.

i. Fair value measurement of financial instruments

When the fair values of the financial assets and liabilities recorded in the balance sheet cannot be measured
based on the quoted market prices in active markets, their fair value is measured using valuation techniques.
The inputs to these models are taken from the observable market, where possible, but where this is not
feasible, a review of judgement is required in establishing fair values. Changes in assumptions relating to
these assumptions could affect the fair value of financial instruments.

ii Deferred Tax

Deferred tax is recorded on temporary differences between tax bases of assets and liabilities and their
carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable profit during
the periods in which those temporary differences and the tax loss carry forwards become deductible.

As per our report of even date attached. For and on behalf of Board

For Bhogilal C. Shah & Co.

Chartered Accountants
Firm Regn. No. : 101424W

Narasimha Reddi Akkineni

Director

DIN : 09435476

Suril Shah
Partner

Membership No. 42710 Vibheeshana Rao Busurothu

Place : Mumbai Director

Date : 29th May, 2024 DIN : 09435439