J. Provisions and contingent liabilities and assets
Provisions

Provisions are recognised when the Company has a present legal or constructive obligation as a
result of past events, 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 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 recognised as a finance cost.

Contingent liabilities and assets

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 uncertain 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 assets are possible assets that arises from past events and whose existence 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.

K. Cash and cash equivalents

Cash and cash equivalents comprises of cash at banks and on hand and short-term deposits with
an original maturity, which are subject to an insignificant risk of changes in value.

L. Inventories

Inventories are valued at the lower of cost and net realisable value. Costs incurred in bringing
each product to its present location and condition are accounted for as follows:

For traded goods, cost includes cost of purchase and other costs incurred in bringing the
inventories to their present location and condition. Cost is determined on first in first out basis.
Net realisable value is the estimated selling price in the ordinary course of business, less
estimated costs of' completion and the estimated costs necessary to make the sale.

M. Use of Estimate and judgements

Preparation of the financial statements in conformity with Indian accounting standards requires
management to make estimates and assumption that affects the reported balances of assets
and liabilties, disclosure relating to contingent liabilties as at the date of financial statements
and reported amount of income and expenditure during the period.

Accounting estimate could change from period to period, actual results could differ from those
estimates, appropriate changes in estimate are made as the management become aware of
changes in circumstance surrounding the estimates. Changes in estimates are reflected in the
financial statements in the periods in which changes are made, if material, their effects are
disclosed in the notes to the financial statements.

N. Expenditure

Expenses are accounted for on the accrual basis and provisions are made for all known losses
and liabilities.

On behalf of the board of directors

For NGMKS & Associates Transpact Enterprise Limited

FRN:024492N

Chartered Accountants Sd- Sd-

Sd- Raman Talwar Kaushik Mahesh Wagela

Director Director

Nitin Goyal DIN :07052896 DIN:08242466

Partner

Membership no.:517698 Sd-

UDIN: 24517698BKHHRS7391

Amrita Gupta

Place: Delhi Company Secretary

Date:30.05.2024