1.3.23 Provisions, Contingent Liabilities

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.

Disclosure of contingent liability is made 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 embodying economic benefits will be required to settle or
a reliable estimate of amount cannot be made.

1.3.24 Events after Reporting Date

Where events occurring after the Balance Sheet date provide evidence of condition that existed at the end of
reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after
the Balance Sheet date of material size or nature are only disclosed.

1.3.25 Non - Current Assets Held For Sales

Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a
sale transaction rather than through continuing use and sale is considered highly probable.

A sale is considered as highly probable when decision has been made to sell, assets are available for immediate
sale in its present condition, assets are being actively marketed and sale has been agreed or is expected to be
concluded within 12 months of the date of classification.

Non-current assets held for sale are neither depreciated nor amortised.

Assets and liabilities classified as held for sale are measured at the lower of their carrying amount and fair value
less cost of sale and are presented separately in the Balance Sheet.

1.3.26 Cash Flows Statement

Cash Flows Statements are reported using the method set out in the Ind AS - 7, "Cash Flow Statements”, whereby
the Net Profit / (Loss) before tax is adjusted for the effects of the transactions of a Non-Cash nature, any deferrals
or accrual of past or future operating cash receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating, investing and financing activities of the
Company are segregated.

1.3.27 Cash and Cash Equivalents

Cash and cash equivalents comprise of cash on hand, cash at banks, short-term deposits and short-term,
highly liquid investments that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value.

1.3.28 Recent Pronouncements

Ministry of Corporate Affairs ("MCA”) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. MCA has notified Ind AS-117
- Insurance Contracts and amendments to Ind AS-116 - Leases, relating to sale and leaseback transactions,
applicable to the Company w.e.f. April 1, 2024. The Company has reviewed the new pronouncements and based
on its evaluation has determined that it does not have any significant impact in its financial statements.

1.4 Critical Accounting Judgments and Key Sources of Estimation Uncertainty:

The preparation of the Company's Financial Statements requires management to make judgment, estimates and
assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the accompanying
disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material
adjustment to the carrying amount of assets or liabilities affected in next financial years.

1.4.1 Income Tax

The Company's tax jurisdiction is in India. Significant judgments are involved in estimating budgeted profits for
the purpose of paying advance tax, determining the income tax provisions, including the amount expected to be
paid / recovered for uncertain.

1.4.2 Property Plant and Equipment/ Intangible Assets

Estimates are involved in determining the cost attributable to bringing the assets to the location and condition
necessary for it to be capable of operating in the manner intended by the management. Property, Plant and
Equipment/Intangible Assets are depreciated/amortised over their estimated useful life, after taking into
account estimated residual value. Management reviews the estimated useful life and residual values of the assets
annually in order to determine the amount of depreciation/ amortisation to be recorded during any reporting
period. The useful life and residual values are based on the Company's historical experience with similar assets
and take into account anticipated technological changes. The depreciation/amortisation for future periods is
revised if there are significant changes from previous estimates.

1.4.3 Defined Benefits Obligations

The costs of providing Gratuity and other post-employment benefits are charged to the Statement of Profit and
Loss in accordance with Ind AS - 19, "Employee Benefits” over the period during which benefit is derived from the
employees' services. It is determined by using the Actuarial Valuation and assessed on the basis of assumptions
selected by the management. An actuarial valuation involves making various assumptions that may differ from
actual developments in the future. These assumptions include salary escalation rate, discount rates, expected
rate of return on assets and mortality rates. Due to complexities involved in the valuation and its long term in
nature, a defined benefit obligation is highly sensitive to change in these assumptions. All assumptions are
reviewed at each balance sheet date.

1.4.4 Fair value measurements of Financial Instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using valuation techniques, including the
discounted cash flow model, which involve various judgments and assumptions.

1.4.5 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 credit rating of the counterparty,
the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the
risk of non-payment.

1.4.6 Provisions

The timing of recognition and quantification of the liability (including litigations) requires the application
of judgment to existing facts and circumstances, which can be subject to change. The carrying amounts of
provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

1.4.7 Impairment of Financial and Non - Financial Assets

The impairment provisions for Financial Assets are based on assumptions about 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.

In case of non-financial assets company estimates asset's recoverable amount, which is higher of an asset's or
Cash Generating Units (CGU's) fair value less costs of disposal and its value in use.

In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the
asset. In determining fair value less costs of disposal, recent market transactions are taken into account, if no
such transactions can be identified, an appropriate valuation model is used.

1.4.8 Recognition of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are recognised for deductible temporary differences and unused tax losses
for which there is probability of utilisation against the future taxable profit. The Company uses judgment to
determine the amount of deferred tax that can be recognised, based upon the likely timing and the level of future
taxable profits and business developments.

A. Defined Contribution Plan

Contribution to defined contribution plan recognised as expense for the period/year is as under:

The Company offers its employees benefits under defined contribution plans in the form of provident fund. Provident fund
cover substantially all regular employees which are on payroll of the company. Both the employees and the Company pay
predetermined contributions into the provident fund and approved superannuation fund. The contributions are normally based
on a certain proportion of the employee's salary and are recognised in the Statement of Profit and Loss as incurred.

Valuation of defined benefit plan are performed on certain basic set of pre-determined assumptions and other regulatory
framework which may vary over time. Thus, the Company is exposed to various risks in providing the above benefit plans
which are as follows:

A. Actuarial Risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse Salary Growth Experience:

Salary hikes that are higher than the assumed salary escalation will result into an increase in Obligation at a rate that is
higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the Gratuity
Benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of
cashflow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.
Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the
Gratuity Benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at
the resignation date.

B. Investment Risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the
fair value of instruments backing the liability. In such cases, the present value of the assets is independent of the future
discount rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in
the discount rate during the inter- valuation period.

C. Liquidity Risk:

Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If
some of such employees resign/retire from the company there can be strain on the cashflows.

D. Market Risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One
actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An
increase in discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa. This assumption
depends on the yields on the corporate/government bonds and hence the valuation of liability is exposed to fluctuations in
the yields as at the valuation date.

E. Legislative Risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/
regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher benefits
to the employees. This will directly affect the present value of the Defined Benefit Obligation and the same will have to be
recognized immediately in the period/year when any such amendment is effective.

Financial Risk Management - Objectives and Policies

The Company's financial liabilities mainly comprise the loans and borrowings in domestic currency, money related to capital
expenditures, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations.
The Company's financial assets comprise mainly of security deposits, cash and cash equivalents, other balances with banks,
trade and other receivables that derive directly from its business operations.

The Company is exposed to the Market Risk, Credit Risk and Liquidity Risk from its financial instruments.

The Management of the Company has implemented a risk management system which is monitored by the Board of Directors of
the Company. The general conditions for compliance with the requirements for proper and future-oriented risk management
within the Company are set out in the risk management principles. These principles aim at encouraging all members of staff
to responsibly deal with risks as well as supporting a sustained process to improve risk awareness. The guidelines on risk

management specify risk management processes, compulsory limitations, and the application of financial instruments. The
risk management system aims to identify, assess, mitigate the risks in order to minimize the potential adverse effect on the
Company's financial performance.

The following disclosures summarize the Company's exposure to the financial risks and the information regarding use of
derivatives employed to manage the exposures to such risks. Quantitative Sensitivity Analysis has been provided to reflect the
impact of reasonably possible changes in market rate on financial results, cash flows and financial positions of the Company.

(*) Fair value of financial assets and liabilities measured at amortized cost approximates their respective carrying values as the
management has assessed that there is no significant movement in factor such as discount rates, interest rates, credit risk
from the date of the transition. The fair values are assessed by the management using Level 3 inputs. ¹

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and

Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or
in part using a net asset value or valuation model based on assumptions that are neither supported by prices from observable
current market transactions in the same instrument nor are they based on available market data.

B. 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 Risk comprises three types of Risk: "Interest Rate Risk, Currency Risk and Other Price Risk”. Financial
instrument affected by the Market Risk includes loans and borrowings in foreign as well as domestic currency, retention
money related to capital expenditures, trade and other payables.

(a) Interest Rate Risk

Interest Rate Risk is the risk that fair value or future cash outflows of a financial instrument will fluctuate because of
changes in market interest rates. An upward movement in the interest rate would adversely affect the borrowing cost of
the Company. The Company is exposed to long term and short - term borrowings. The Company manages interest rate risk
by monitoring its mix of fixed and floating rate instruments and taking actions as necessary to maintain an appropriate
balance. The Company has not used any interest rate derivatives.

(c) Other Price Risk

Other Price Risk is the Risk that the fair value of a financial instrument will fluctuate due to changes in market traded price.
The Company is not exposed to price risk arising from investments in equity/equity-oriented instruments recognized at
FVTPL/FVTOCI.

C. Credit Risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company's exposure to
credit risk is influenced mainly by cash and cash equivalents, trade receivables and other Financial assets measured at
amortized cost. The Company continuously monitors defaults of customers and other counterparties and incorporates this
information into its credit risk controls.

The Company assesses and manages credit risk based on internal credit rating system. Internal credit rating is performed
for each class of financial instruments with different characteristics. The Company assigns the following credit ratings to
each class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets. (i) Low
credit risk, (ii) Moderate credit risk, (iii) High credit risk.

Based on business environment in which the Company operates, a default on a financial asset is considered when the
counter party fails to make payments within the agreed time period as per contract. Loss rates reflecting defaults are based
on actual credit loss experience and considering differences between current and historical economic conditions.

Financial assets (other than trade receivables) that expose the entity to credit risk are managed and categorized as
follows:

(i) Cash and cash equivalent and bank balance:

Credit risk related to cash and cash equivalents and bank balance is managed by only accepting highly rated banks and
diversifying bank deposits and accounts in different banks.

(ii) Loans and Other financial assets measured at amortized cost:

Other financial assets measured at amortized cost includes Security Deposit to various authorities , Loans to staff and other
receivables. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts
continuously, while at the same time internal control system in place ensure the amounts are within defined limits.

(iii) Trade receivables:

Life time expected credit loss is provided for trade receivables. Based on business environment in which the Company
operates, a default on a financial asset is considered when the counter party fails to make payments within the agreed time
period as per contract. Loss rates reflecting defaults are based on actual credit loss experience and considering differences
between current and historical economic conditions. Assets are written off when there is no reasonable expectation of
recovery, such as a debtor declaring bankruptcy or a litigation decided against the Company. The Company continues to
engage with parties whose balances are written off and attempts to enforce repayment. Recoveries made are recognized
in statement of profit and loss.

D. Liquidity Risk

Liquidity Risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated
with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an
inability to sell a financial asset quickly at close to its fair value. Management monitors rolling forecasts of the Company's
liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the
liquidity of the market in which the entity operates.

(b) Maturities of Financial Liabilities:

The tables below analyze the Company's financial liabilities into relevant maturity based on their contractual maturities
for all non-derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows.
Balances due within 12 months equal their carrying balances as the impact of discounting is not significant. As per
attached Annexure "A”.

E. Capital Management

The Company's capital management objectives are to ensure the company's ability to continue as a going concern, to
provide an adequate return to share holders

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as presented
on the face of balance sheet. Management assesses the Company's capital requirements in order to maintain an efficient
overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the
Company's various classes of debt. The Company manages the capital structure and makes adjustments to it in the light
of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the
capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders,
issue new shares, or sell assets to reduce debt.

| Note 41 | Additional regulatory information_

A) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease Agreements
are duly executed in favour of the lessee) are held in the name of the Company.

B) The Company does not have any investment property.

C) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible
assets.

D) There are no loans or advances in the nature of loans are granted to Promoters, Directors, KMPs and their

related parties (as defined under Companies Act, 2013), either severally or jointly with any other person,
that are outstanding as on 31st March, 2025:

( i ) repayable on demand; or

( ii ) without specifying any terms or period of repayment”

E) 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 made thereunder.

F) The company is not declared willful defaulter by any bank or financial institution or other lender.

G) The company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013
or section 560 of Companies Act, 1956.

H) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013.

I) The 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 undrstanding
(whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons
or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any
guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

J) 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 directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

K) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax
Act, 1961. There are no such previously unrecorded income or related assets.

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

M) The Provision of Section 135 of the Companies Act 2013 in relation to Corporate Social Responsibility :

* Reason for variance More than 25 %:

Current ratio (In times)

Company's current assets (Trade Receivables , Loans and Advances and Inventory) has increased and current liabilities (Trade
Payables) has decreased . Thus, current ratio improved from 1.08 % to 1.35 % as the company has more short-term assets to
cover its short-term obligations.

Inventory Turnover Ratio ( In times)

Inventory Turnover ratio improved from 3.98 to 5.65 times due to a higher proportional increase in the cost of goods sold relative
to the increase in average inventory.

Trade payables turnover ratio (In times)

Trade payables turnover ratio is increased from 5.53 to 9.69 due to a proportionally higher increase in credit purchases compared
to the rise in average trade payables.

Net capital turnover ratio (In times)

The movement in the net capital turnover ratio from 42.36 to 16.75 is a result of proportionally higher increase in net working
capital compared to increase in Revenue from operations .

Return on Capital employed (in %)

Capital employed has increased at a higher rate than EBIT due to which Return on Capital employed improved from 28.09% to
16.78% .

As Per Report of Even Date

For, Keyur Shah & Co. For and on the behalf of Board of Directors

F.R. No: 141173W Rajputana Industries Limited

Chartered Accountants

Keyur Shah Shivani Sheikh Sheikh Naseem

Proprietor (Managing Director) (Director)

M.No. 153774 (DIN: 02467557) (DIN: 02467366)

Kamlesh Kumawat Preeti Khatore

(Chief Financial Officer) (Company Secretary)

Date :- 28th May, 2025 Date :- 28th May, 2025 ( M.No. : 12885 )

Place :- Ahmedabad Place :- Jaipur

1

The financial instruments measured at FVTPL represents current investments and derivative assets having been valued
using level 2 valuation hierarchy.

Fair value hierarchy

The fair value of financial instruments as referred to in note below has been classified into three categories depending on the
inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical
assets or liabilities [Level 1 measurements] and lowest priority to unobservable inputs [Level 3 measurements].