d) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past
event, 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.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.

e) Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and
Loss, except to the extent that it relates to items recognised in the comprehensive income or in equity. In which
case, the tax is also recognised in other comprehensive income or equity.

- Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

- Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
financial statements and the corresponding tax bases used in the computation of taxable profit.

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 realised, 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.

f) Revenue recognition

Revenue from sale of goods/services is recognised when the significant risks and rewards of ownership have been
transferred to the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably,
there is no continuing effective control or managerial involvement with the goods, and the amount of revenue
can be measured reliably.

Revenue from rendering of services is recognised when the performance of agreed contractual task has been
completed.

Revenue from sale of goods is measured at the fair value of the consideration received or receivable, taking into
account contractually defined terms of payment and excluding taxes or duties collected on behalf of the
government.

Revenue from operations includes sale of goods, services, service tax, excise duty and adjusted for discounts
(net).

Interest income

Interest income from a financial asset is recognised using effective interest rate method.

Dividends

Revenue is recognised when the Company’s right to receive the payment has been established.

g) Financial instruments
i) Financial Assets

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair value
through profit or loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial assets
are recognised using trade date accounting.

B. Subsequent measurement

a) Financial assets carried at amortised cost (AC)

A financial asset is measured at amortised cost if it is held within 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 on the principal amount
outstanding.

b) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within 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
give rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.

c) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL.

C. Other Equity Investments

All other equity investments are measured at fair value, with value changes recognised in Statement of Profit and
Loss, except for those equity investments for which the Company has elected to present the value changes in
‘Other Comprehensive Income’.

Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using the
exchange rates 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
recognised in OCI or Statement of Profit and Loss are also recognised in OCI or Statement of Profit and Loss,
respectively).

D. Impairment of financial assets

In accordance with Ind AS 109, the Company uses ‘Expected Credit Loss’ (ECL) model, for evaluating
impairment of financial assets other than those measured at fair value through profit and loss (FVTPL).

Expected credit losses are measured through a loss allowance at an amount equal to:

The 12-months expected credit losses (expected credit losses that result from those default events on the financial
instrument that are possible within 12 months after the reporting date); or

Full lifetime expected credit losses (expected credit losses that result from all possible default events over the life
of the financial instrument)

For trade receivables Company applies ‘simplified approach’ which requires expected lifetime losses to be
recognised from initial recognition of the receivables. The Company uses historical default rates to determine

impairment loss on the portfolio of trade receivables. At every reporting date these historical default rates are
reviewed and changes in the forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

ii) Financial liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of
recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. 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 instrument.

h) Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity by the
weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or 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.

i) Contingent liabilities

A contingent liability is a possible obligation that arises 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 the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot
be recognized because it cannot be measured reliably. The company does not recognize a contingent liability but
discloses its existence in the financial statements.

j) Cash and Cash equivalents

Cash and cash equivalents in the cash flow statement comprise cash at bank and in hand and short-term
investments with an original maturity of three months or less.

k) Exceptions to retrospective application of other Ind AS

i) Estimates

An entity's estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent
with estimates made for the same date in accordance with Previous GAAP (after adjustments to
reflect any difference in accounting policies), unless there is an objective evidence that those
estimates were in error. The company has not made any changes to estimates made in accordance
with Previous GAAP.

ii) Ind AS 109- Financial Instruments (Classification and measurement of financial asset)

Classification and measurement of financial assets shall be made on the basis of facts and
circumstances that exist at the date of transition to Ind AS.

16. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of
service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of profit and
loss and amounts recognized in the balance sheet for the respective plans. The liability is not funded.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors, such as supply and demand in the employment market.

Discontinuance Liability

Amount payable upon discontinuance of all employment is for gratuity Rs. ('000) 581.97 and for leave
encashment Rs. ('000) 28.31

17. Segmental Information:

In accordance with Accounting Standard AS-17 on 'Segmental Reporting' issued by the Institute of Chartered
Accountants of India, the company is operating under one segment only, there is no other primary reportable
segment. The company is operating in domestic segment and there is no revenue from outside India.

19. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. Nil (31
March 2023: Rs. Nil)

20. Contingent liabilities

Contingent liabilities of the company as on 31st March 2024 is Rs Nil (31st March 2023: Rs Nil)

21. In the opinion of the Board of Directors, long term loans and advances and current assets, approximately of
the value stated if realized in the ordinary course of the business. The provisions for all known liabilities have
adequately been made and are not in excess of the amounts reasonably necessary. There is no contingent liability
other than those stated, if any.

22. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises
(MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium
Enterprises as per MSMED Act, 2006 as at 31 March 2024 (31 March 2023: Nil).

23. a) Expenditure in foreign currency (accrual basis) - Nil
b) Earnings in foreign currency (accrual basis) - Nil

24. Fair Value Measurements

‘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 the principal or, in its absence, the most
advantageous market to which the Company has access at that date. The fair value of a liability reflects its non¬
performance risk. The best evidence of the fair value of a financial instrument on initial recognition is normally
the transaction price - i.e. the fair value of the consideration given or received.

i) Fair Value hierarchy of financial assets and liabilities

This section explains the judgements and estimates made in determining the fair value of the financial instruments
that are (a) recognised and measured fair value and (b) measured at amortised cost and for which fair values are
disclosed in the financial statements. To provide an indication about the reliability of the inputs used in
determining fair value, the company has classified its financial instruments into the three levels prescribed under
the accounting standard. An explanation of each level follows underneath the table.

The carrying value of current trade receivables, cash and cash equivalents, current loans, trade payables and other
financial assets and liabilities are considered to be the same as their fair values due to their short-term nature. The
fair value of financial instruments as referred to in note above have been classified into three categories depending
on the inputs used in valuation technique. The hierarchy gives highest priority to quoted prices in active market
for identical assets or liabilities (Level 1 measurement) and lowest priority to unobservable inputs (Level 3
measurement).

The categories used are as follows:

Level-1 Hierarchy includes financial instruments measured using quoted price.

Level-2 The fair value of financial instruments that are not traded in an active market is determined using
valuation technique which maximise the use of observable market data and rely as little as possible on entity-
specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is
included in Level-2.

Level -3 If one or more of the significant inputs is not based on observable market data, the instrument is included
in level 3.

ii) Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

1) The mutual funds are valued using closing NAV available in the market.

2) Valuation technique and key input of Equity Shares - unquoted (Fair value hierarchy-3): Net asset value
based on latest financial statements of the company.

25. Financial Risk Management

Risk management framework

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity
risk. The Company’s primary risk management focus is to minimize potential adverse effects of market risk on its
financial performance. The Company’s risk management assessment and policies and processes are established to
identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
such risks and compliance with the same. Risk assessment and management policies and processes are reviewed
regularly to reflect changes in market conditions and the Company’s activities. The Board of Directors and the
management is responsible for overseeing the Company’s risk assessment and management policies and
processes.

(A) Credit Risk

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in financial loss to
the Company. The Company deals with creditworthy counterparties as a means of mitigating the risk of financial
loss from defaults. The Company uses publicly available financial information and its own trading records to rate
its major customers. The Company’s exposure and credit ratings of its counterparties are regularly monitored and
the aggregate value of transactions concluded is spread amongst counterparties.

i) Credit Risk Management -
Financial instruments and cash deposits

The Company maintains exposure in cash and cash equivalents, term deposits with banks and investments in
mutual funds. The credit worthiness of such banks and financial institutions is evaluated by the management on an
ongoing basis and is considered to be good. As a practice, the company only invests with high rated banks/
institutions. The Company’s maximum exposure to credit risk as at March 31, 2024 and March 31, 2023 is the
carrying value of each class of financial assets as disclosed in note 8.

Security deposits given to lessors

The Company has given security deposit to lessors for premises leased by it as at March 31, 2024 and March 31,
2023. The credit worthiness of such lessors is evaluated by the management on an ongoing basis and is considered
to be good.

Trade receivables

Trade receivables are typically unsecured and are derived from revenue earned from customers. Credit risk has
been managed by the Company through credit approvals, establishing credit limits and continuously monitoring
the creditworthiness of customers to which the Company grants credit terms in the normal course of business.
Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to
determine incurred and expected credit losses. Historical trends of impairment of trade receivables do not reflect
any significant credit losses. Given that the macroeconomic indicators affecting customers of the Company have
not undergone any substantial change, the Company expects the historical trend of minimal credit losses to
continue.

(B) Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due.
The responsibility for liquidity risk management rests with the Board of directors, which has an appropriate
liquidity risk management framework for the management of the Company’s short-, medium- and long-term
funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate
reserves, banking facilities by regularly monitoring forecast and actual cash flows.

(C) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and other price
risk such as equity price risk. The objective of market risk management is to manage and control market risk
exposures within acceptable parameters, while optimising the return.

Foreign currency risk exposure: The Company does not have any exposure to foreign currency risk as at March
31, 2024 (Previous year Nil).

Interest rate risk The Company does not have any borrowings and is thus not exposed to interest rate risk as at
March 31, 2024 (Previous year Nil).

Price risk The company’s exposure to investments arises from investment held by the company in mutual funds
and classified in the balance sheet as fair value through profit or loss. Investments in equity shares of subsidiaries
are held for strategic purpose and are not trading in nature.

27. Other Statutory Information

(i) The Company do not have any Benami property, where any proceeding has been initiated or pending
against the Company for holding any Benami property.

(ii) Title deed of immovable properties are held in the name of the company.

(iii) The company has not undertaken any revaluation of its property, plants or equipment during the year.
Thus, no disclosure requirement is there under this clause.

(iv) The company is not a wilful defaulter as company has not taken any loan form any bank or financial
institutions or any other lender.

(v) The company is not covered under section 135 of Companies Act. Thus, no disclosure requirements are
there under this clause.

(vi) The Company do not have any transactions with companies struck off.

(vii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period,

(viii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial
year.

(ix) The Company have 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:

(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

(x) The Company have 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,

(xi) The Company does have not any 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.

28. Previous year’s figures have been regrouped where necessary to conform to this year’s classification.

For and on behalf of the Board of Directors of Sahara Sanchaar
Limited

For Gupta Rustagi & Co.

Firm Registration No. 128701W

Chartered Accountants Vipul Agarwal Kriti Kumar Ganguly

Director Director

DIN-07135408 DIN - 08214967

Niraj Gupta Shubhash Raju

Partner Kanumuri

Membership No. 100808 Chief Financial

Mumbai: May 30, 2024 Officer