1.9 Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognized when there is 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 there is a reliable
estimate of the amount of the obligation. When a provision is measured using the cash
flows estimated to settle the present obligation, its carrying amount is the present
value of those cash flows (when the effect of the time value of money is material).
Contingent liabilities are disclosed 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 will be required to settle the obligation or a
reliable estimate of the amount cannot be made.

1.10 Leases

Policy Applicable from April 1, 2019

The Company accounts for each lease component within the contract as a lease
separately from non-lease components of the contract and allocates the
consideration in the contract to each lease component on the basis of the relative
stand -alone price of the lease component and the aggregate stand-alone price of the
non-lease components.

The Company recognises right-of-use asset representing its right to use the
underlying asset for the lease term at the lease commencement date. The cost of the
right-of-use asset measured at inception shall comprise of the amount of the initial
measurement of the lease liability adjusted for any lease payments made at or
before the commencement date less any lease incentives received, plus any initial
direct costs incurred and an estimate of costs to be incurred by the lessee in
dismantling and removing the underlying asset or restoring the underlying asset or
site on which it is located. The right-of-use assets is subsequently measured at cost
less any accumulated depreciation, accumulated impairment losses, if any and
adjusted for any remeasurement of the lease liability. The right-of-use assets is
depreciated using the straight-line method from the commencement date over the
shorter of lease term or useful life of right-of-use asset. The estimated useful lives of
right-of use assets are determined on the same basis as those of property, plant and
equipment. Right-of-use assets are tested for impairment whenever there is any
indication that their carrying amounts may not be recoverable. Impairment loss, if
any, is recognised in the statement of profit and loss.

The Company measures the lease liability at the present value of the lease payments
that are not paid at the commencement date of the lease. The lease payments are
discounted using the interest rate implicit in the lease, if that rate can be readily
determined. If that rate cannot be readily determined, the Company uses
incremental borrowing rate. For leases with reasonably similar characteristics, the
Company, on a lease by lease basis, may adopt either the incremental borrowing rate
specific to the lease or the incremental borrowing rate for the portfolio as a whole.
The lease payments shall include fixed payments, variable lease payments, residual
value guarantees, exercise price of a purchase option where the Company is
reasonably certain to exercise that option and payments of penalties for terminating
the lease, if the lease term reflects the lessee exercising an option to terminate the
lease. The lease liability is subsequently remeasured by increasing the carrying
amount to reflect interest on the lease liability, reducing the carrying amount to
reflect the lease payments made and remeasuring the carrying amount to reflect any

reassessment or lease modifications or to reflect revised in -substance fixed lease
payments. The company recognises the amount of the re-measurement of lease
liability due to modification as an adjustment to the right-of-use asset and statement
of profit and loss depending upon the nature of modification. Where the carrying
amount of the right-of-use asset is reduced to zero and there is a further reduction
in the measurement of the lease liability, the Company recognises any remaining
amount of the re -measurement in statement of profit and loss.

Short-term leases having a lease term of 12 months or less and low value leases are
accounted for in the statement of profit and loss as a revenue item.

Note 26: Capital Management

Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence
and to sustain future economic development of the business. Management monitors the return on capital, as well
as the level of dividends to equity shareholder. The board of directors seeks to maintain a balance between higher
returns that might be possible with higher levels of borrowing and the advantages and security afforded by a sound
capital position.

Fair Value Hierarchy

The section explains the judgments and estimates made in determining the fair values of the financial instruments
that are (a) recognised and measured at 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 three levels prescribed under Ind AS 113 - Fair
Value Measurement. An explanation of each level is given at the end of the table.

Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2 : The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques 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 the instruments are observable, the instrument is
included in Level 2.

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

B. Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

• Credit risk

• Liquidity risk

• Market risk

(i) Risk Management framework

The Company's board of directors has the overall responsibility of overseeing and establishing the Company's risk
management framework. The Company has a comprehensive risk management policy relating to the risks that the
Company faces under various categories like strategic, operational, reputational and other risks and these have
been identified and suitable mitigation measures have also been formulated. The board of directors reviews the key
risks and the mitigation procedures periodically.

(ii) Credit Risk

Credit risk is the risk that a counter party will not meet its obligation under a financial instrument or a customer
contract, leading to a financial loss. Company is exposed to credit risk from its operating activities (primarily trade
receivables) and from its financing activities.

Customer credit risk is managed subject to Company's established policy, procedures and control leading to
customer credit risk management. Credit limits are established for all customers based on internal rating criteria.
Outstanding trade receivables are regularly monitored. An impairment analysis is performed at each reporting date
on an individual basis. Management believes that the unimpaired amounts that are past due are still collectible in
full, based on the historical payment behaviour and analysis of customer risk.

The credit risk from balances / deposits with banks and other financial assets are managed in accordance with the
Company's approved policy. Investment of surplus funds are made only with approved counterparties and within
limits assigned to each counter-parties. The limits are assigned to mitigate the concentration risk. These limits are
actively monitored by the Company.

(iii) Liquidity Risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its obligations. The Company
monitors its rolling forecast of its liquidity position on the basis of expected cash flows. The Company's approach is
to ensure that it has sufficient liquidity or borrowing headroom to meet its obligations at all point in time. The
Company has sufficient short term fund based lines, which provides healthy liquidity.

(iv) Market Risks

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and commodity
prices - will affect the Company's income or the value of its holding of financial instruments. The objective of
market risk management is to manage and control market risk exposures within acceptable parameters, while
optimising the return. Financial instruments affected by market risk include loans and borrowings, deposits and
investments.

Note 29: Segment Reporting

The Company is engaged mainly in trading activities and as such there are no other reportable segment as defined by
Indian Accounting Standard 108 on "Operating Segments" issued by the Institute of Chartered Accountants of India.

Note 30: Dues to micro & small enterprises

The Company has called for complete information from all the vendors regarding their status as small-scale/micro
industrial undertaking. Based on information received regarding the status of the vendors, there are no amounts
outstanding for more than Rs.1,00,000/- for more than 30 days.

Note 31: Contingent Liabilities

There were no Contingent Liabilities as of March 31, 2024 (Previous year Rs. Nil).

Note 32: Details of benami property held

There has been no proceedings initiated or pending against the Company for holding any benami property under the
Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made thereunder.

Note 33: Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

Note 34: Compliance with number of layers of companies

The Company does not have any subsidiary(s), therefore Section 2 of the Companies Act, 2013 read with Companies
(Restriction on number of Layers) Rules, 2017 relating to Layers of Companies is not applicable.

Note 35: Undisclosed income

The Company does not have any transaction 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).

Note 36: Intangible assets under development

There are no Intangible assets under development as on 31st March 2024.

Note 37: Relationship with struck-off companies

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013
or section 560 of Companies Act, 1956.

Note 38: Security of current assets against borrowings

The Company does not have borrowings from banks or financial institutions on the basis of security of current assets.
Note 39: Compliance with approved scheme(s) of arrangements

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

Note 40: Details of crypto currency or virtual currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year ended on 31st
March 2024.

Note 41: Title deeds of immovable property not held in name of the company

The Company does not have any immovable property (other than properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the
Company.

Note 42: Registration of charges or satisfaction with registrar of companies

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

Note 43: Utilisation of borrowed funds/share premium/any other source of funds

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 or entity, including foreign entities ("Intermediaries") with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether, directly or indirectly
lend or invest in other persons/entities identified in any manner whatsoever by or on behalf of the Company ('ultimate
beneficiaries') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries of the Company in
the ordinary course of business .

Accordingly, no further disclosures, in this regard, are required.

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 by or on behalf of the Funding party (ultimate
beneficiaries); or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

Note 44: Events after reporting date

There have been no events after the reporting date that require adjustment/disclosure in these financial statements.
Note 45:

The previous year figures have been regrouped /reclassified wherever considered necessary. Figures have been
rounded off to the nearest rupee.

For and on behalf of the Board of Directors of
Nexus Surgical and Medicare Limited
CIN: L33100MH1992PLC328367

sd/- sd/- sd/-

Ram Swaroop Joshi Pawankumar Choudhary Monika Choudhary

Managing Director Director & CFO Company Secretary

DIN:07184085 DIN:03125806

Vasai

May 30, 2024