C.9. 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 can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. If the effect of the time value of money is material, 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. When discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

The amount recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the Reporting date, taking into account the risks and uncertainties surrounding the obligation.

Contingent Liabilities are possible obligations that arise from past events and whose existence will only be
confirmed by the occurrence or non-occurrence of one or more future events not wholly within the control of
the Company. Where it is not probable that an outflow of economic benefits will be required, or the amount
cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of
outflow of economic benefits is remote. Contingent liabilities are disclosed on the basis of a judgment of the
management/independent experts. These are reviewed at each Balance Sheet date and are adjusted to reflect
the current management estimate.

C.10. 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.

C.11. Foreign Currency Transactions and Translation

Transactions in Foreign Currencies are initially recorded at the functional currency spot rates at the date the
transaction first qualifies for recognition.

Monetary Assets and Liabilities denominated in foreign currencies are translated at the functional currency spot rates
of exchange prevailing at the Reporting date (i.e. at the closing rate). Exchange differences arising on settlement or
translation of monetary items are recognized in Profit or Loss in the year in which it arises except to the extent of
exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings that
are directly attributable to the acquisition or construction of qualifying assets, are capitalized as cost of assets.

Non-Monetary items are measured in terms of historical cost in a foreign currency are translated using the
exchange rate at the date of the transaction. Non-Monetary items measured at fair value in a foreign currency
are translated using the exchange rates at the date when the fair value was measured. The gain or Loss arising on
translation of Non-Monetary items measured at fair value is treated in line with the recognition of the gain or Loss on
the change in fair value of the item (i.e., translation differences on items whose fair value gain or Loss is recognized
in OCI or Statement of Profit and Loss are also recognized in OCI or Statement of Profit and Loss, respectively).

C.12. Revenue

Revenue from Contracts with customers is recognized when control of the goods or services is transferred to the
customer at an amount that reflects the consideration entitled in exchange for those goods or services. The Company
is generally the principal as it typically controls the goods or services before transferring them to the customer.

Generally, control is transferred upon shipment of goods to the customer provided, transfer of title to the customer occurs
and the Company has not retained any significant risks of ownership or future obligations with respect to the goods
shipped or when the goods are made available to the customer depending on Contractual terms with the Customer.

Revenue from Rendering of Services is recognised over time by measuring the progress towards complete
satisfaction of performance obligations at the Reporting period.

Revenue from operations includes sale of goods&services net of GST.

C.13. Other Income

Interest Income is recognized, when no significant uncertainty as to measurability or collectability exists, on a
time proportion basis taking into account the amount outstanding and the applicable interest rate.

All other items of income are accounted on accrual basis.

C.14. Employee Benefits

C.14.1 Short Term Employee Benefits

Short-Term Employee Benefit obligations are measured on an undiscounted basis and are expenses as the
relative service is provided. A liability is recognized for the amount expected to be paid e.g., under short¬
term cash bonus, if the Company has a present legal or constructive obligation to pay this amount as a
result of past service provided by the employee, and the amount of obligation can be estimated reliably.

C.14.2. Post-Employment Benefits

Employee Benefit that are payable after the completion of employment are Post-Employment Benefit
(other than termination benefit). These are of two types: -

(a) Defined Contribution Plans

A Defined-Contribution Plan is a post-employment benefit plan under which an entity pays fixed
contributions into separate entities and will have no legal or constructive obligation to pay further
amounts. Obligations for contributions to defined contribution plans are recognized as an employee
benefits expense in Profit or Loss in the period during which services are rendered by employees.

The Company pays a fixed contribution to government-administered provident fund scheme,ESI
Schemeand Labour Welfare Fund scheme at predetermined rates. The contributions to the fund for
the year are recognized as expenses and are charged to the Profit or Loss.

(b) Defined Benefit Plans

A Defined Benefit Plan is a post-employment benefit plan other than a definedcontribution plan. The
Company's liability towards gratuity is in the nature of defined benefit plans.

The Company's net obligation in respect of defined benefit plan is calculated separately by estimating
the amount of future benefit that employees have earned in return for their service in the current and
prior periods; that benefit is discounted to determine its present value. Any unrecognized past service
costs are deducted. The discount rate is based on the prevailing market yields of Indian government
securities as at the Reporting date that have maturity dates approximating the terms of the Company's
obligations and that are denominated in the same currency in which the benefits are expected to be paid.

The calculation is performed annually by a qualified actuary using the projected unit credit method.
When the calculation results in a benefit to the Company, the recognized asset is limited to the
total of any unrecognized past service costs. Any actuarial gains or Losses are recognized in other
comprehensive income in the period in which they arise.

C.15. Income Tax

Income Tax Expense comprises Current and Deferred Tax. Current Tax expense is recognized in Profit or Loss
except to the extent that it relates to items recognized directly in other comprehensive income, in which case it
is recognized in OCI.

Current Tax is the expected tax payable on the taxable income for the year, using tax rates enacted or
substantively enacted and as applicable at the Reporting date, and any adjustment to tax payable in respect
of previous years. The amount of current tax reflects the best estimate of the tax amount expected to be paid
or received after considering the uncertainty, if any, related to income taxes. It is measured using taxrates (and
tax laws) enacted or substantively enacted by the Reporting date.

Deferred Tax is recognized on temporary differences between the carrying amounts of assets and liabilities in
the FinancialStatements and the corresponding tax bases used in the computation of taxable Profit.

Deferred Tax assets are recognized to the extent it is probable that taxable Profit will be available against which
the deductible temporary differences and the carry forward of unused tax Losses can be utilized. 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 realized, based on tax rates (and tax laws) that have been enacted or substantively enacted
by the end of the Reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the
end of each Reporting period.

C.16.EarningsPer Share

Basic earnings per equity share is computed by dividing the net Profit or Loss attributable to equity shareholders
of the Company by the weighted average number of equity shares outstanding during the Financial year.

Diluted earnings per equity share is computed by dividing the net Profit or Loss attributable to equity shareholders
of the Company by the weighted average number of equity shares considered for deriving basic earnings
per equity share and also the weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares.

C.17. Operating Segment

In accordance with Ind-As 108, the operating segments used to present segment information are identified on
the basis of internal reports used by the Company's Management to allocate resources to the segments and

assess their performance. The Board of Directors is collectively the Company's 'Chief Operating Decision Maker'
or 'CODM' within the meaning of Ind AS 108. The indicators used for internal Reporting purposes may evolve in
connection with performance assessment measures put in place by the Company from time to time.

C.18. Equity Investment

Equity Investments in subsidiary is measured at cost. The investments are reviewed at each Reporting date to
determine whether there is any indication of impairment considering the provisions of Ind AS 36 'Impairment of
Assets'. If any such indication exists, a policy for impairment of non-financial assets is followed.

C.19. Financial Instruments

A financialInstrument is any contract that gives rise to a financialasset of one entity and a financial liability or
equity instrument of another entity.

C.20.1 FinancialAssets

Initial Recognition and Measurement

AllFinancialAssets and Liabilities are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of FinancialAssets andFinancialLiabilities, which are not at fair value
through Profit or Loss, are adjusted to the fair value on initial recognition. Purchase and sale of FinancialAssets
are recognized using trade date accounting.

Subsequent Measurement

Debt Instruments at Amortized Cost

A 'Debt Instrument' is measured at the Amortized Cost if both the following conditions are met:

(a) The Asset is held within a business model whose objective is to hold assets for collecting contractual
cash flows, and

(b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such FinancialAssets are subsequently measured at amortized cost using the EIR
method. This category generally applies to trade and other receivables.

Equity Investments

All Equity Investments in entities are measured (except equity investment in subsidiary) at fair value.
Equity instruments which are held for trading are classified as at FVTPL. For all other Equity Instruments, the
Company decides to classify the same either as at FVTOCI or FVTPL. The Company makes such election on
an instrument-by-instrument basis. The classification is made on initial recognition and is irrevocable.

Equity Investments in subsidiary are carried at cost less accumulated impairment losses, if any.

De-recognition

A FinancialAsset is primarily derecognized when:

® The Rights to receive cash flows from the asset have expired, or

® The Company has transferred its rights to receive cash flows from the asset or has assumed an

obligation to pay the received cash flows in full without material delay to a third party under a 'pass¬
through' arrangement ; and either

(a) The Company has transferred substantially all the risks and rewards of the asset, or

(b) The Company has neither transferred nor retained substantially all the risks and rewards of the asset
but has transferred control of the asset.

Impairment of FinancialAssets

The impairment provisions for Financial Assets are based on assumptions about the risk of default and
expected cash Loss rates. The Company uses judgment in making these assumptions and selecting the
inputs to the impairment calculation, based on Company's past history, existing market conditions as well
as forward-looking estimates at the end of each Reporting period

G202 FinancialLiabilities

Initial Recognition and Measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or
loss, borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as
appropriate. All Financial liabilities are recognized initially at fair value and, in the case of borrowings and
payables, it is recognised net of directly attributable transaction costs. The Company's Financial liabilities
include trade and other payables, borrowings, and derivative financial instruments.

Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at amortized cost:

After initial measurement, such financial liabilities are subsequently measured at amortized cost using the
EIR method. This category generally applies to borrowings, trade payables, and other contractual liabilities.

De-recognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or
expires. When an existing financial liability is replaced by another from the same lender on substantially
different terms or the terms of an existing liability are substantially modified, such an exchange or
modification is treated as the de-recognition of the original liability and the recognition of a new liability.
The difference in the respective carrying amounts is recognized in the Statement of Profit or Loss.

C.203 Offsetting

FinancialAssets and Liabilities are offset and the net amount is reported in the Balance Sheet where there
is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net
basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be
contingent on future events and must be enforceable in the normal course of business and in the event of
default, insolvency, or bankruptcy of the Company or the counterparty.

D. Use of Estimates and Management Judgments

The Preparation of FinancialStatements requires management to make judgments, estimates, and assumptions that
may impact the application of accounting policies and the reported value of assets, liabilities, income, expenses, and
related disclosures concerning the items involved as well as contingent assets and liabilities at the Balance Sheet
date. The estimates and management's judgments are based on previous experience and other factors considered
reasonable and prudent in the circumstances. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimates are revised and in any future periods affected.

In order to enhance understanding of theFinancialStatements, information about significant areas of estimation,
uncertainty and critical judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the StandaloneFinancialStatements are as under:

D.l. Useful life of Property, Plant, and Equipment/ Intangible Assets

The estimated useful life of Property, Plant and Equipment/ Intangible Assets is based on a number of factors
including the effects of obsolescence, demand, competition, and other economic factors (such as the stability
of the industry and known technological advances) and the level of maintenance expenditures required to
obtain the expected future cash flows from the asset.

The Company reviews at the end of each Reporting date the useful life of Property, Plant, and Equipment/
Intangible Assets and are adjusted prospectively, if appropriate.

D.2. Recoverable amount of Property, Plant, and Equipment

The recoverable amount of Plant and Equipment is based on estimates and assumptions regarding in particular
the expected market outlook and future cash flows. Any changes in these assumptions may have a material
impact on the measurement of the recoverable amount and could result in impairment.

D.3. Employee Benefit Plans

Employee benefit obligations are measured on the basis of actuarial assumptionsand management
calculationwhich include mortality and withdrawal rates as well as assumptions concerning future
developments in discount rates, the rate of salary increases, and the inflation rate. The Company considers that
the assumptions used to measure its obligations are appropriate and documented. However, any changes in
these assumptions may have a material impact on the resulting calculations.

D.4. Leases

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116.
Identification of a lease requires significant judgment. The Company uses judgment in assessing whether a
contract (or part of a contract) includes a lease, the lease team (including anticipated renewals), the applicable
discount rate, variable lease payments whether are in-substance fixed. The judgment involves assessment of
whether the asset included in the contract is a fully or partly identified asset based on the facts and circumstances,
whether the contract includes a lease and non-lease component and if so, separation thereof for the purpose
of recognition and measurement, determination of lease term basis, inter alia the non-cancellable period of the
lease and whether the lessee intends to opt for continuing with the use of the asset upon the expiry thereof, and
whether the lease payments are fixed or variable or a combination of both.

D.5. Provisions and Contingencies

The assessments undertaken in recognizing provisions and contingencies have been made in accordance
with Ind AS 37, 'Provisions, Contingent Liabilities and Contingent Assets'. The evaluation of the likelihood of the
contingent events has required best judgment by management regarding the probability of exposure to
potential Loss. Should circumstances change following unforeseeable developments, this likelihood could alter.

D.6. Recoverability of Trade Receivables

Judgments are required in assessing the recoverability of overdue Trade Receivables and determining whether
a provision against those receivables is required. Factors considered include the amount and timing of
anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

D.7. Fair Value Measurement

For estimates relating to the fair value of financialinstruments Refer Note 36.3of FinancialStatements

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.

Interest risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially
offset by an increase in the return on the plan debt investments.

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 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.

Note 35: Capital Management and Financial Instruments

35.1 Capital Management

The Company manages its capital to ensure that it will continue as going concern while maximizing the return
to stakeholders.

The company manages its capital structure and make adjustment in light of changes in business condition. The
overall strategy remains unchanged as compare to last year.

The Company adheres to a robust Capital Management framework which is underpinned by the following
guiding principles;

a) Maintain financial strength to ensure A Stable ratings domestically

b) Ensure financial flexibility and diversify sources of financing and their maturities to minimize liquidity risk while
meeting investment requirements.

c) Proactively manage group exposure in forex, interest and commodities to mitigate risk to earnings.

d) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of
the Balance sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environment, financial
market conditions and interest rates environment.

35.2Financial Instruments
Valuation

All financial instruments are initially recognized and subsequently re-measured at fair value as described below:

a) The Fair Value of investment in quoted Equity Shares is measured at quoted price.

b) The Fair Value of investment in unquoted Share (Other than Investment in Subsidiary) are taken at book value
per share as per the last audited financial statement.

c) All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

d) The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

The financial instruments are categorized into three levels based on the inputs used to arrive at fair value
measurements as described below:

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

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either
directly or indirectly.

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

35.4 Foreign Currency Risk

The following table shows foreign currency exposures in USD on financial instruments at the end of the reporting
period. The exposure to foreign currency for all other currencies are not material.

35.6Commodity Price Risk

Commodity price risk arises due to fluctuation in prices of crude oil and other products. The company has a risk
management framework aimed at prudently managing the risk arising from the volatility in commodity prices and
freight costs. The company's commodity risk is managed centrally through well-established trading operations and
control processes.

35.7 Credit Risk

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. Outstanding customer receivables are regularly monitored
and any shipments to major customers are generally covered by Letters of Credit, Bank Guarantees or other forms
of credit insurance, wherever required.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a
large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets
disclosed in Note 7.

The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are
located in several jurisdictions and industries and operate in largely independent markets."

NOTE 44: DETAILS OF INCOME TAX DEMAND/DEFAULTS

(a) There is no outstanding demand of any assessment year till a/y 2025-26.

NOTE 45: EVENTS AFTER THE REPORTING PERIOD
For the year ended 31^st March, 2025

The Board of Directors have recommended an equity dividend of H 0.26/- per share on face value of H1/- each i.e. for the
financial year ended March 31, 2025 in its meeting held on 29^th May, 2025, which shall be Subject to declaration by the
Members at the 49^th AGM of the Company. The Dividend, if declared at the AGM, shall be paid to the shareholders within
30 days of declaration of the same. This will lead to an approximate outflow of H 767.42 lakhs if approved.

NOTE 46: APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved for issue by the board of directors on 29^th May, 2025.

47. Long Term Contract: The Company did not have any long-term contracts including derivative contracts for which
there were any material foreseeable losses.

48. Other Payable: It includes Unclaimed Dividend Account and the Company had transferred H 4,76,372 in the Current
Year to the Investor Education and Protection Fund. However, there is no amount pending to be transferred to Investor
Education and Protection Fund as on 31.03.2025.

49. The accounts of certain trade receivables, trade payables, short term loans and advances and current liabilities
are subject to confirmation / reconciliation and adjustment, if any. The management does not expect any material
difference affecting the current year's financial statements. In the opinion of the management, the current assets,
loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary
course of business and provision for all known liabilities have been adequately made in the books of accounts.

50. There are not any charges or satisfaction yet to be registered with ROC beyond the statutory period.

NOTE 51: No transactions to report against the following disclosure requirements as notified by MCA
pursuant

(a) Crypto Currency or Virtual

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

(c) Relating to borrowed funds:

i. Wilful defaulter

ii. Utilisation of borrowed funds & share premium

iii. Discrepancy in utilisation of borrowings

iv. Current maturity of long term borrowings.

(d) Disclosure for Struck off Companies.

(e) Disclosure for undisclosed income disclosed under income tax proceedings.

(f) Compliance with numbers of layers of companies.

(g) Title deed of Immovable Properties not held in the name of the company.

52. The figures of previous year have been reclassified/regrouped for the better presentation in the financial statements
and to confirm to the current year's classification/disclosures. This does not have any impact on the profits
of previous year.

53. Accompanying notes are an integral parts of financial statements.

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

For AMRG & ASSOCIATES

Chartered Accountants
FRN :004453N

CA Madhu Mohan Rajinder Mittal Sat Narain Goyal

Partner Managing Director Whole Time Director

Membership No.: 082938 DIN:00033082 DIN: 00050643

UDIN: 25082938BMOFIM5888

Ajeet Kumar Thakur Gulab Singh

Place : Chandigarh Company Secretary Chief Financial Officer

Date: 29^th May, 2025 Membership No.: F9091