k) Provisions and Contingencies

A provision is recognized it as a result of past even the company has a present
legal or constructive obligation that is reasonably estimated and its probable
that an outflow of economic benefit will be required to settle the obligation.
Provisions are determined by discounting the expected cash flow at a pre-tax
rate that reflects current market assessments of the time value of the money
and the risk specified to the liabilities.

A contingent liability is a possible obligation that arise from past events whose
existence will be confirmed by the occurrence or non- occurrence of one or
more uncertain future events beyond the control of the Company or a present
obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle obligation. The company does not recognize
a contingent liability but discloses its existence in the financial statements. If
materials are disclosed by way of notes to accounts.

Contingent Assets are not recognized in the financial statements, as they are
dependent on the outcome of legal or other processes.

l) Employee Benefits

Expenses and liabilities in respect of employee benefit are recorded in
accordance with Indian Accounting Standard (IND AS 19 employees benefit)

i) Short Term Employee Benefits

Short term employee benefits (i.e. benefits falling due within one year after the
end of the period in which employees render the related service) are recognized
as expenses in the period in which employee services are rendered as per the
Company's scheme based on expected obligations on undiscounted basis.

ii) Post- Employment Benefits Plan

Under Defined Contribution Plan, the contribution is payable in keeping with
the related schemes are recognized as expenses for the year.

Under Defined Benefit Plan, the present value of the obligations is determined
based on actuarial valuations using the Projected Unit Credit Method, on the
basis of actuarial valuations carried out by actuary at each Balance Sheet date.
Actuarial gain/ loss, if any, arising from experience adjustments and change in
actuarial assumptions are charged or credited to other comprehensive income
in the period in which they arise.

iii) Other- Term Employee Benefits

Leave encashment/ compensated absence is determined by valuations using
Projected Unit Credit Method, on the basis of actuarial valuations carried out
by actuary at each Balance Sheet date. Actuarial gain/ loss, if any, arising from
experience adjustments and change in actuarial assumptions are charged or
credited to other comprehensive income in the period in which they arise.

m) Cash and Cash Equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at banks and
on hand and short term deposits with an original maturity of three months or
less, which are subject to an insignificant risk of changes in value.

For the purpose of Statement of Cash Flows, Cash and cash equivalents
consists of cash at banks and short term deposits, as defined above, net of
outstanding bank overdrafts as they are considered an integral part of
Company's Cash Management.

n) Dividend

Annual dividend distribution to the shareholders is recognized as a liability in
the period in which the dividend is approved by the shareholders. Dividend
payable are corresponding tax on dividend distribution is recognized directly in
equity.

o) Earnings Per Share

Basic Earnings per equity shares are calculated by dividing the net profit/ loss
before OCI for the period attributable to equity shareholders by the weighted
average number of equity share outstanding during the year.

For calculating diluted earnings per share, the net profit or loss before OCI for
the period attributable to equity shareholders and the weighted average
numbers of share outstanding during the period are adjusted for the effect of
all diluted potential equity share.

p) Financial Instruments

A) Financial Assets

Initial Recognition and Measurement

All financial assets are recognized initially at fair value plus, in case of financial
assets not recorded at fair value through profit or loss, transaction cost that
are attributable to the acquisition of the financial asset.

Subsequent measurement

i) Financial Assets carried at amortized Cost:

A financial asset is subsequently measured at amortized cost, using Effective
Interest Rate (EIR) method, if it is held with in a business model whose
objective is to hold the asset in order to collect contractual Cash Flows and the
contractual terms of the financial asset give rise on specified dates to Cash
Flows that are solely payments of principal and interest term on the principal
amount outstanding.

Amortized cost is calculated by taking into account any discount or premium
on Acquisition and fees or costs that are an integral part of the EIR. The EIR
amortization is included in finance income in the statement of profit or loss.
The losses arising from impairment are recognized in the profit or loss. This
category generally applies to trade receivables, cash and bank balances, loans
and other financial assets of the company.

ii) Financial Assets at fair value through other comprehensive
income:

A financial asset is subsequently measured at fair value through other
comprehensive income if it is held with in a business model whose objective is
achieved by both collecting contractual Cash Flows and selling financial assets
and the contractual terms of the financial asset given rise on a specified date
to Cash Flows that are solely payments of principal and interest on the principal
amount outstanding. He company has made an irrevocable election for its
investment which are classified as equity instruments to present the
subsequent changes in fair value in other comprehensive income based on its
business model. Further, in case where the company has made an irrevocable
election based on its business model for its investment, which are classified as
equity instrument the subsequent changes in fair value are recognized in other
comprehensive income.

If the company decided to classify an equity instrument as at FVTOCI, then all
fair value changes on the instrument, excluding dividends, are recognized in
the OCI. There is no recycling of the amounts from OCI to Statement of Profit
and Loss, even on sale of investment. However, the company may transfer the
cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair
value with all changes recognized in the Statement of Profit and Loss.

iii) Financial assets at fair value through profit or loss:

A financial asset which is not classified in any of the above categories are
subsequently fair valued through profit or loss.

B) Financial Liabilities

Initial recognition and Measurement

Financial liabilities are recognized at fair value on initial recognition and in case
of loan and borrowing or payables net of directly attributable transaction costs.

Subsequent Measurement

Financial liabilities are subsequently carried at amortized cost using effective
interest rate method. Gains and losses are recognized in profit or loss when
the liabilities are derecognized as well as through the EIR amortization process.
Amortization cost is calculated by taking into account any discount or premium
on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortization is included as finance costs in the statement of profit and loss.

For trade and other payables maturing within one year from the Balance sheet
date, the carrying amounts approximate fair value due to the short maturity of
these instruments.

C) De-recognition of financial instrument

The company de-recognition the financial assets when contractual right to Cash
Flow from financial assets expire or it transfer the financial assets and transfer
qualities for de-recognition under IND AS 109. A financial liability or a part of
a financial liability is de-recognized from the Company's Balance Sheet when
obligation specified in the Contract is discharged or cancelled or expires.

D) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is
reported in the Balance Sheet if there is a currently enforceable legal right to
offset the recognized amounts and there is an intention to settle on a net basis,
to realize the assets and settle the liabilities simultaneously.

q) Fair Value Financial Instruments

The company measure financial instrument at fair value at each Balance Sheet
date. Fair value is the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the
measurement date.

In determining the fair value of its financial instruments, the company use
various method and assumption that are based on market conditions and risks
existing at each reporting date. The methods used to determine the fair value
includes discounted Cash Flow analysis, available quoted market price and
dealer quotes and valuation report etc. the method of assessing fair value
results in general approximation of value and such value may never actually be
realized.

Fair values are categorized into different levels in a fair value hierarchy based
on the inputs used in the valuation techniques as follows:

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

Level 2: Inputs other than quoted prices included in Level 1 that are observable
for the assets or liability, either directly (i.e. as prices) or indirectly (i.e. derived
from prices).

Level 3: Inputs for the asset or liability that are not based on observable market
data (unobservable inputs).

When measuring the fair value of an asset or liability, the company uses
observable market data as far as possible. If the inputs used to measure the
fair value of an asset or a liability fall into different levels of the fair value
hierarchy, then the fair value measurement is categorized in its entirety in the
same level of the fair value hierarchy as the lowest level input that is significant
to the entire measurement.

4. Changes in Accounting Standard and recent accounting pronouncements
(New Accounting Standards issued but not effective):

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the
existing standards under Companies (Indian Accounting Standards) Rules as issued
from time to time. On March 23' 2022, MCA amended the Companies (Indian
Accounting Standards) Amendment Rules, 2022, applicable from April 1^st'2022, as
below:

Ind AS 103- Reference to Conceptual Framework

The amendments specify that to qualify for recognition as part of applying the
acquisition method, the identifiable assets acquired and liabilities assumed must meet
the definitions of assets and liabilities in the Conceptual Framework for Financial
Reporting under Indian Accounting Standards (Conceptual Framework) issued by the
Institute of Chartered Accountants of India at the acquisition date. These changes do
not significantly change the requirements of Ind AS 103. The Company does not expect
the amendment to have any impact in its financial statements.

Ind AS 16- Proceeds Before Intended Use

The amendments mainly prohibit an entity from deducting from the cost of property,
plant & equipment amounts received from selling items produced while the company
is preparing the asset for its intended use. Instead, an entity will recognize such sales
proceeds and related cost in profit or loss. The company does not expect the
amendment to have any impact in its recognition of its property, plant and equipment
in its financial statements.

Ind AS 37- Onerous Contracts- Costs of Fulfilling a Contract

The amendments specify that the 'cost of fulfilling' a contract comprises the 'costs that
relate directly to the contract'. Costs that related directly to a contract can either be
incremental costs of fulfilling that contract (examples would be direct labour, materials)
or an allocation of other costs that relate directly to fulfilling contracts. The amendment
is essentially a clarification and the Company does not expect The amendment to have
any significant impact in its financial statements.

Ind AS 109- Annual Improvement to Ind AS (2021)

The amendment clarifies which fees an entity includes when it applies the '10%' test
of Ind AS 109 in assessing whether to derecognize a financial liability. The Company
does not expect the amendment to have any significant impact in its financial
statement.

Ind AS 106- Annual Improvement to Ind AS (2021)

The amendments remove the illustration of the reimbursement of leasehold
improvements by the lessor in order to resolve any potential confusion regarding the
treatment of lease incentives that might arise because of how lease incentives were
described in that illustration. The Company does not expect the amendment to have
any significant impact in its financial statements.

Sensitivity Analysis:

Discount rate, Salary Escalation Rate and Withdrawal rate are significant actuarial
assumptions. The change in the Present Value of Defined Benefit Obligation for a change of
100 Basis Points from the assumed assumption is given below:

33. Segment information as per IND AS-108

Operating segment are components of the company whose operating results are regularly
reviewed by the Chief Operating Decision Market ("CODM") to make decisions about
resources to be allocated to the segment and assess its performance and for which discrete
financial information is available.

The Company is engaged primarily on the business of "Agro products" only, taking into
account the risks and returns, the organization structure and the internal reporting systems.
All the operations of the Company are in India. All non-current assets of the Company are
located in India.

Accordingly, there are no separate reportable segments as per IND AS 108- "Operating
segments".

Fair Value Hierarchy

Level-1 Quoted Price (unadjusted) is active markets for identical assets or liabilities •

Level- 2 Inputs other than quoted prices included within Level-1 that are observable for the
asset or liability, either directly (i.e. as prices) or indirectly (i.e.) derived from prices

Level-3 Inputs other than quoted prices included within Level-1 that are based on non¬
observable market data.

The following table presents fair value hierarchy of assets and liabilities measured at fair
value on a recurring basis as of March 31'2024

36. Financial risk management objective and policies

The Company's financial liabilities included Loan and borrowing, security deposits, retention
money and Trade & other payables. The main purpose of these financial liabilities is to finance
the Company's operations. The Company's financial assets included investments, trade &
other receivables, deposits and cash & cash equivalents.

The Company's overall risk management programme focuses on the unpredictability of
financial markets and seeks to minimize potential adverse effects on the Company's financial
performance. The Company uses derivative financial instruments to hedge certain risk
exposures. The Company does not acquire or issue derivative financial instruments for trading
or speculative purposes.

The Company's activities expose it to Credit Risk, Liquidity Risk, Market Risk, and Equity Price
Rise. The Company has a Risk Management Policy and its management is supported by a Risk
Management Committee that advises on risks and the appropriate financial risk governance
framework for the company. The Risk Management Committee provides assurance to the
Company's management that the Company's risk activities are governed by appropriate
policies and procedures and that financial risks are identified, measured and managed in
accordance with the Company's policies and risk objectives. The Broad of Directors reviews
and agrees policies for managing each of these risks, which are summarized below.

A. Credit Risk- A risk that counterparty may not meet its obligations under a financial
instrument or customer contract, leading to a financial loss is defined as Credit Risk.
The Company is exposed to credit risk from its operating and financial activities.

Customer credit risk is managed by the respective marketing department subject to
the Company's established policy, procedure and control relating to customer's credit
risk management. The Company reviews the creditworthiness of these customers on
an on-going basis. The company estimates the expected credit loss on the basis of
past data, experience and policy laid down in this respect. The maximum exposure to
the credit risk at the reporting date is the carrying value of the trade receivables
disclosed in Note 7 (Seven) as the Company does not hold any collateral as security.
The Company has a practice to provide for doubtful debts as per its approved policy.

An impairment analysis is performed at each reporting date on an individual basis. The
calculation is based on historical data of credit losses.

B. Liquidity Risk- A risk that the Company may not be able to settle or meet its
obligations at a reasonable price is defined as liquidity risks. The Company's treasury
department is responsible for managing liquidity, funding as well as settlement
management. In addition, processes and policies related to such risks are overseen by
senior management. Management monitors the Company's net liquidity position
through rolling forecasts on the basis of expected cash flows.

The Company's objective is to maintain a balance between continuity of funding and
flexibility through the use of cash credits, Term Loans among others.

C. Market Risk- A risk that the fair value of future cash flows of a financial instruments
may fluctuate because of changes in market prices is defined as Marketing Risk. Such
changes in the value of financial instruments may result from changes in the foreign
currency exchange rates, interest rates, credit, liquidity and other market changes.

i. Foreign Currency Risk: A risk that the fair value of future cash flows of a forex
exposure will fluctuate because of changes in foreign exchange rates is defined
as Foreign Currency Risk. The Company's exposure to the risk of changes in
foreign exchange rates relates primarily to the Company's import and foreign
currency loan/ derivatives operating activities. The Company, as per its risk
management policy, uses foreign exchange and other derivative instruments
primarily to hedge foreign exchange exposure. The management monitors the
foreign exchange fluctuations on a continuous basis.

Derivative instruments and un-hedged foreign currency exposure:

The Company does not enter into any derivative instruments for trading or
speculative purposes.

37. Capital Management

The Company's objective when managing capital (defined as net debt and equity) is to
safeguard the Company's ability to continue as a going concern in order to provide returns to
shareholders and benefits for other shareholders, while protecting and strengthening the
Balance Sheet through the appropriate balance of debt and equity funding. The Company
manages its capital structure and makes adjustments to it, in taking into consideration the
economic conditions and strategic objectives of the Company.

For the purpose of the Company's capital management, capital includes issued capital, share
premium and all other equity reserves. Net debt includes, interest bearing loans and
borrowings, trade and other payables less cash and short term deposits.

In order to achieve this overall objective, the Company's capital management, amongst other
things, aims to ensure that it meets financial covenants attached to the interest-bearing loans
and borrowings that define capital structure requirements. Breaches in meeting the financial
covenants would permit the bank to immediately call loans and borrowings. There have been
no branches of the financial covenants of any interest- bearing loans and borrowings for
reported periods.

38. There are no amounts due and outstanding to be credited to Investor Education &
Protection Fund as on March 31'2024.

39. Even after the Reporting Period

There have been no even after the reporting date the required disclosure in financial
statements.

40. Additional Disclosure:

a) The Company has not revalued its Property, Plant & Equipment accordingly
disclosure as to whether the revaluation is based on the valuation by a
registered valuer as defined under rule 2 of the Companies (Registered Valuers
and Valuation) Rules,2017 is not applicable to the Company.

b) During the year, the Company has not granted any Loans or Advances in the
nature of loans which are either repayable on demand or without specifying
any terms or period of repayment to promoters, directors and KMPs either
severally or jointly with any other person.

c) No proceedings have been initiated or pending against the company for holding
any benami property under the Benami Transactions (Prohibition) Act,1988 (45
of 1988) and the rules thereunder, the company for the financial year 2023¬
24.

d) The Company has been taken borrowings from banks or financial institutions
on the basis of security of current assets. The quarterly returns or statement
of current assets filed by the Company with such banks or financial institutions
are generally in agreement with the unaudited books of account of the
Company of the respective quarters.

e) The Company has not been declared as willful defaulter by bank or financial
institution or other lender.

f) The Company has any not entered into any transaction with the Companies
which are struck off under section 248 of the Companies Act,2013 or section
560 of Companies Act, 1956 during the financial year ended on 31.03.2024.

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

h) The Company does not have any investment through more than two layers of
investment companies as per section 2(87) (d) and section 186 of the
Companies Act,2013.

i) During the year Company has not advanced or loaned or invested funds (either
borrowed funds or share premium or any other sources or kind of funds) to
any other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding (whether recorded in writing or otherwise) that the
Intermediary shall

A. 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 .

B. Provide any guarantee, security or the like to or on behalf of the
Ultimate Beneficiaries of the Company.

j) During the year 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

A. 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

B. Provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries. •

k) The Company does not have such transaction which are not recorded in the
books of accounts during the year and also there are not such unrecorded
income and related assets related to earlier years which have been recorded in
the books of account during the year.

l) The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year.

42. Previous year figures are regrouped and reclassified to make them comparable with IND
AS presentation.

43. The above financial statements have been reviewed by the audit Committee and
subsequently approved by the Board of Directors at its meeting held on 29^th May'2024.

Seal:

For Amit Ray & Co.,

Chartered Accountants
FRN. No. 000483C

Sd/-

Srabana Bhattacharyya

Place: Kolkata Membership No. 062118

Date: 29^th May 2024 Partner