Provisions, contingent liabilities and contingent assets:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past
event and it is probable that the outflow of resources embodying economic benefits will be required to settled the
obligation in respect of which reliable estimate can be made of the amount of the obligation. When the Company
expects some or all of a provision to be reimbursed, the expense relating to provision presented in the statement
of profit & loss is net of any reimbursement.

The present obligation under an onerous contract is recognised and measured as a provision. However before
a separate provision for an onerous contract is established, the company recognises any impairment loss that
has occurred on assets dedicated to that contract. If the effect of the time value of money is material, provisions
are disclosed using a current pre-tax rate that reflects, when appropriate, the risk specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognized as finance cost.

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 assets are not recognized but disclosed, when probable assets that arises from past events and
whose existence will be confirmed only by the occurrence or non-occurrence of one more uncertain event not
wholly with in the control of the Company.

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

Taxes:

Income tax comprises current and deferred tax. It is recognized in profit or loss except to the extent that it relates
to a business combination or to an item recognized directly in equity or in other comprehensive income.

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any
adjustment to the tax payable or receivable 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 tax rates (and tax laws) enacted or substantively enacted by the reporting
date.

In correlation to the underlying transaction relating to Other comprehensive income and Equity, current tax items
are recognized in Other comprehensive income and Equity, respectively. Management periodically evaluates
positions taken in the tax returns to situations in which applicable tax regulations are subject to interpretation.
Then, full provisions are made where appropriate based on the amount expected to be paid to the tax authorities.

Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the
recognized amounts, and it is intended to realize the asset and settle the liability on net basis or simultaneously.

Deferred tax

Revenue recognition:

The company is primarily engaged in share broking activity and having trading membership of NSE India Limited.
Brokerage income is the main source of Income.

Contract Balances

Contract Assets:

A contract asset is recognised for the conditional earned consideration, if the company has the right to consideration
in exchange of goods or services transferred to a customer before the customer pays the consideration or before
payment is due.

Trade Receivables:

A trade receivable is recognised for the company’s right to an amount of consideration, in exchange of goods or
services transferred to a customer, that is unconditional i.e. only the passage of time is required before payment
of the consideration is due.

Contract Liabilities:

A Contract liabilities is recognised for the consideration paid by a customer before the transfer of goods or
services to the company. The contract liabilities are recognised as revenue when the company performs under
the contract.

Contract Cost:

The incremental costs of obtaining a contract with a customer and the costs incurred to fulfil a contract with a
cus-tomer, if those cost are not within the scope of other Ind AS for e.g. Ind AS 2 - Inventories, Ind AS 16-Property
Plant & equipment, Ind AS 38- Intangible Assets etc, are recognised as an asset, if the company expects to
recover those costs. The incremental costs of obtaining the contract are those that the company incurs to obtain
a contract with a customer that would not have been incurred if the contract had not been obtained. The company
has elected to apply the optional practical expedient for costs to obtain a contract and to fulfil a contract which
allows the company to immediately expense the costs because the amortization period of the asset that the
company otherwise would have used is one year or less.

Interest:

Interest income from a financial asset is recognized when it is probable that the economic benefit will flow to the
Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by
reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly
discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying
amount on initial recognition.

Dividends:

Dividend income is recognized when the Company’s right to receive the dividend is established, it is probable that
the economic benefits associated with the dividend will flow to the entity and the amount of the dividend can be
measured reliably i.e. in case of interim dividend, on the date of declaration by the Board of Directors; whereas in
case of final dividend, on the date of approval by the shareholders.

Insurance claim:

Insurance claim are recognised only when the realisation of insurance claim is probable, and only to the extent
of related loss recognised in the financial statements. The recovery of loss is generally would be probable, when
the claim is not in dispute. Any amount expected to be recovered is excess of recognized loss, which will result in
gain is recognised upon the resolution of contingencies liability to insurance claim i.e. whether amount of claim is
admittede to the payable by the insurance company.

Expenses:

All expenses are accounted for on accrual basis. Transactions in foreign currencies are initially recorded at the
functional currency spot rate prevailing at the date of the transaction first qualifies for recognition.

Monetary assets and liabilities related to foreign currency transactions outstanding at the balance sheet date are
translated at the functional currency spot rate of exchange prevailing at the balance sheet date. Any income or
expense arising on account of foreign exchange difference either on settlement or on translation is recognized in
the Statement of Profit and Loss.

Non-monetary items which are carried at historical cost denominated in a foreign currency are translated using
the exchange rate at the date of the initial transaction. Non-monetary items which are measured at fair value in a
foreign currency are translated using the exchange rates at the date when fair value is determined.

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 item.

Borrowings:

Long term borrowings are initially recognized at net of material transaction costs incurred and measured at
amor-tized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
recognized in the statement of profit or loss over the period of the borrowings using the effective interest method.

Borrowing Costs:

Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are
capitalised during the period that is required to complete and prepare the asset for its intended use or sale.
Qualifying assets are assets that necessarily take a substantial time to get ready for their intended use or sale.
Borrowing costs consist of interest and other costs that a Company incurs in connection with the borrowing
of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the
borrowing costs. Other borrowing costs are expensed in the period in which they are incurred.

Impairment:

Non-Financial assets:

Intangible assets that have an indefinite useful life are not subject to amortisation but are tested annually for
impairment. Other intangible assets and property, plant and equipment are evaluated for recoverability whenever
events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose
of impair-ment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in¬
use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely
independent of those from other assets. In such cases, the recoverable amount is determined for the Cash
Generating Unit (CGU) to which the asset belongs.

The Carrying amount of assets is reviewed at each balance sheet date, if there is any indication of impairment
based on internal/external factor. An asset is impaired when the carrying amount of the assets exceeds the
recoverable amount. Impairment is charged to the profit and loss account in the year in which an asset is identified
as impaired.

An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates used
to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable
amount, provided that this amount does not exceed the carrying amount that would have been determined (net
of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior
years.

• Financial assets

The Company recognizes loss allowances using the Expected Credit Loss (“ECL”) model for financial assets
measured at amortized cost. The Company recognizes lifetime expected credit losses for trade receivables.

Loss allowance equal to the lifetime expected credit losses are recognized if the credit risk of the financial
asset has significantly increased since initial recognition.

Employee benefits:

Short-term obligations:

Short-term obligations for wages and salaries, including nonmonetary benefits that are expected to be settled
wholly within twelve months after the end of the period, are recognised as an expense at the undiscounted
amounts of expected liabilities in the year in which the related service is rendered.

Defined contribution plans:

The Company pays provident and other fund contributions to publicly administered funds as per related Govern¬
ment regulations. The Company has no further obligation other than the contributions payable to the respective
funds. The Company recognizes contribution payable to such funds as an expense when an employee renders
the related service.

Defined benefit plans:

The company provides for gratuity, a defined benefit retirement plan (‘ the Gratuity Plan’) covering eligible
employees of the company. The Gratuity Plan provides a lump-sum payment to vested employees at retirement,
death, or termination of employment, of an amount based on the respective employee’s salary and the tenure of
employment with the company.

Compensated absences:

The employees of the Company are entitled to compensated absences that are both accumulating and
nonaccumulating

in nature. The expected cost of accumulating compensated absences is determined by actuarial valuation using
the projected unit credit method for the unused entitlement accumulated at the balance sheet date. The benefits
are discounted using the market yields at the end of the balance sheet date that has terms approximating the
terms of the related obligation. Re-measurements resulting from experience adjustments and changes in actuarial
assumptions are recognized in profit or loss.

Voluntary Retirement Scheme:

Expenditure on voluntary retirement scheme is charged to the Statement of Profit and Loss in the year in which
it is incurred.

Financial Instruments:

Financial Assets:

Classification

The company classified financial assets as subsequently measured at amortized cost, fair value though other
comprehensive income or fair value through profit or loss on the basis of its business model for managing the
financial assets and contractual cash flow characteristics of the financial asset.

Initial Recognition and Measurement:

All financial assets are recognised initially at fair value. Transaction costs directly attributable to the acquisition or
issue of the financial asset, other than financial assets at fair value through profit or loss, are added to or deducted
from the fair value of the financial assets as appropriate on initial recognition. The financial assets include equity
and debt securities, trade and other receivables, loans and advances, cash and bank balances and derivative
financial instruments. Trade receivables that do not contain a significant financing component are measured at
transaction price.

Subsequent Measurement:

For the purpose of subsequent measurement the financial assets are classified in three categories:

• at amortized cost

• at fair value through other comprehensive income

• at fair value through profit or loss
Financial assets at amortized cost:

Equity investments

All equity investments in the scope of Ind AS 109 are measured at fair value. Equity instruments included within
the FVTPL category, if any, are measured at fair value with all changes recognized in statement of profit or
loss. The Company may make an irrevocable election to present in OCI subsequent changes in the fair value.
The Company makes such election on an instrument-by-instrument basis. The classification is made on initial
recognition and is irrevocable. When the fair value has been determined based on level 3 inputs, the difference
between the fair value at initial recognition and the transaction price, if loss, is recognized through retained
earnings and after initial recognition subsequent changes in fair value of equity instruments is recognised as gain

or loss to the extent it arises from change in input to valuation technique If the company decides to classify an
equity instrument as at FVTOCI, then fair value changes on the instrument, excluding dividends, are recognized
in other compressive income (OCI). There is no recycling of the amounts from OCI to statement of profit or loss,
even on sale of investments.

However, the Company may transfer the cumulative gain or loss within equity.

De-recognition:

A financial assets (or, where applicable, a part of a financial asset) is primarily derecognized when:

• The right to receive cash flows from the assets have expired or

• The company has transferred substantially all the risks and rewards of the assets, or

• The company has neither transferred nor retained substantially all the risks and rewards of the assets, but
has transferred control of the assets.

Financial liabilities:

Classification

Debt and equity instruments issued by the company are classified as either financial liabilities or as equity in
accordance with the substance of the contractual agreements and the definitions of financial liability and equity
instrument.

Initial recognition and measurement:

The company recognizes financial liability when it becomes a party to the contractual provision of the instrument.
All financial liabilities are recognized initially at fair value. Transaction costs that are directly attributable to the
acquisition or issue of financial liabilities, other than financial liabilities at fair value through profit or loss, are
added to or deducted from the fair value of the financial liabilities, as appropriate, on initial recognition.

The Company uses various derivative financial instruments to mitigate the risk of changes in interest rates,
exchange rates and commodity prices. Such derivative financial instruments are initially recognised at fair value
on the date on which a derivative contract is entered into and are also subsequently measured at fair value.
Derivatives are carried as Financial Assets when the fair value is positive and as Financial Liabilities when the
fair value is negative.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of
Profit and Loss, except for the effective portion of cash flow hedge which is recognised in Other Comprehensive
Income and later to Statement of Profit and Loss when the hedged item affects profit or loss or is treated as basis
adjustment if a hedged forecast transaction subsequently results in the recognition of a Non-Financial Assets or
Non-Financial liability.

Hedges that meet the criteria for hedge accounting are accounted for as follows:

Cash Flow Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging instruments
to mitigate the risk of movement in interest rates and foreign exchange rates for foreign exchange exposure on
highly probable future cash flows attributable to a recognised asset or liability or forecast cash transactions. When
a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of
the derivative is recognized in the cash flow hedging reserve being part of Other Comprehensive Income. Any
ineffective portion of changes in the fair value of the derivative is recognized immediately in the Statement of Profit
and Loss. If the hedging relationship no longer meets the criteria for hedge accounting, then hedge accounting is
discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative
gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was
effective remains in cash flow hedging reserve until the underlying transaction occurs. The cumulative gain or loss
previously recognized in the cash flow hedging reserve is transferred to the Statement of Profit and Loss upon
the occurrence of the underlying transaction. If the forecasted transaction is no longer expected to occur, then the
amount accumulated in cash flow hedging reserve is reclassified in the Statement of Profit and Loss.

Fair Value Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging
instruments to mitigate the risk of change in fair value of hedged item due to movement in interest rates, foreign
exchange rates and commodity prices. Changes in the fair value of hedging instruments and hedged items that
are designated and qualify as fair value hedges are recorded in the Statement of Profit and Loss. If the hedging
relationship no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest method is used for amortising to Statement of Profit and Loss over the period
of maturity.

The Company’s operating segments are established on the basis of those components of the Company that are
evaluated regularly by the Board of Directors (the ‘Chief Operating Decision Maker’ as defined in Ind AS 108 -
‘Operating Segments’), in deciding how to allocate resources and in assessing performance. These have been
identified taking into account nature of products and services, the differing risks and returns and the internal
business reporting systems.

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of
the segment. Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment
on reasonable basis have been disclosed as “Un-allocable”.

Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Assets and
liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as “Un-allocable”.

Government grants:

Government grants are recognised at fair value where there is reasonable assurance that the grant will be received
and all attached conditions will be complied with. Government grants that are receivable as compensation for
expenses or losses already incurred or for the purpose of giving immediate financial support to the company
with no future related costs are recognised in statement of profit and loss in the period in which they become
receivable.

Government grants related to assets, including non-monetary grants recorded at fair value, are treated as deferred
income and are recognized and credited in the Statement of Profit and Loss on a systematic and rational basis
over the estimated useful life of the related asset and presented in other income.

When loans or similar assistance are provided by governments or related institutions, with an interest rate below
the current applicable market rate, the effect of this favourable interest is regarded as a government grant. The
loan or assistance is initially recognised and measured at fair value and the government grant is measured as
the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently
measured as per the accounting policy applicable to financial liabilities.

Non-current assets (or disposal group) held for sale and discontinued operations:

Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying
value and fair value less costs to sell.

Assets and disposal groups are classified as held for sale if their carrying value will be recovered through a sale
transaction rather than through continuing use. This condition is only met when the sale is highly probable and
the asset, or disposal group, is available for immediate sale in its present condition and is marketed for sale at a
price that is reasonable in relation to its current fair value.

Where a disposal group represents a separate major line of business or geographical area of operations, or is part
of a single coordinated plan to dispose of a separate major line of business or geographical area of operations,
then it is treated as a discontinued operation. The post-tax profit or loss of the discontinued operation together
with the gain or loss recognised on its disposal are disclosed as a single amount in the statement of profit and
loss, with all prior periods being presented on this basis.

Fair Value Measurement:

The Company measures financial instruments at fair value at each balance sheet date. 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. The fair value measurement is based on the presumption that the transaction to sell the
asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or

• In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use
when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:

Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company deter¬
mines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based
on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting
period.

For the purpose of fair value disclosures, the Company has determined classes of assets & liabilities on the
basis of the nature, characteristics and the risks of the asset or liability and the level of the fair value hierarchy as
explained above.

Dividend payable:

Dividends and interim dividends payable to a Company’s shareholders are recognized as changes in equity in the
period in which they are approved by the shareholder’s meeting and the Board of Directors respectively.

Statement of Cash Flow:

Cash flows are stated using the indirect method, whereby profit/loss before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and items of incomes and expenses associated with investing or financing flows. The cash flows from operating,
investing and financing activities of the Company are segregated.

Note 25. The Company does not have any Contingent Liabilities and Capital Commitment
Note 26 Segment Reporting

In accordance with paragraph 4 of Indian Accounting Standard (Ind AS) 108 'Operating Segments' prescribed
under Section 133 of the Act, read with Rule 7 of the Companies (Indian Accounting Standards) Rules, 2015, the
Company has no separate segment which required to be disclosed under Ind AS 108.

Note 27 Details of Micro Enterprises and Small Enterprises as defined under the Micro, Small and Medium

The company did not have any transactions with Small Scale Industrial ('SME's') undertakings during the year
ended March 31, 2025 and hence there are no amounts due to such undertakings. The identification of SME's
undertakings is based on the management's knowledge of their status.

The Company has not received any information from "suppliers" regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the
year ended together with interest paid /payable as required under the said Act have not been furnished.

Note 28 Retirement Benefits
Defined Contribution Plan

The company is not participating in any employer defined benefit plan and does not prepare plan valuations on
an IND AS 19 basis. Company is not having employee who served from more than 5 years.

Note 29. Financial Instruments
(i) Fair Value measurement

Financial Instrument by category and hierarchy

Some of the Company's financial assets and financial liabilities are measured at fair value at the end of each
Reporting period. The following table gives information about how the fair values of these financial assets
and financial liabilities are determined (in particular the valuation techniques and in-puts used).

Fair value hierarchy

All assets and liabilities for which fair value is measured disclosed in the or disclosed in the financial statement
are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is
significant to the fair value measurement as a whole:

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

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or indirectly observable.

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable.

The carrying values of the financial instruments by categories were as follows:

Note 32 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) The Company do not have any transactions with companies struck off.

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

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

v) 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.

vi) 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,

vii) The Company have no 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).

viii) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with the Companies (Restriction on number of Layers) Rules, 2017.

ix) The Company has not been declared as a Wilful Defaulter by any bank or financial institution or government
or any government authority.

Note 33

Figures of previous year are regrouped, rearranged and reclassified wherever necessary to correspond to figures
of the current year.

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

For Uday Pasad and Associates, Relic Technologies Limited

Chartered Accountants
Firm Registration No. 113230W

Uday Premji Pasad

Proprietor

Membership No.: 046581 Baijoo Madhusudan Raval Kunal Narendra Gandhi

UDIN: 25046581BMGSQQ3274 Whole Time Director & CFO Non- Executive Director

DIN:00429398 DIN:01516156

Place : Mumbai Place : Mumbai

Date : 27th May, 2025 Date : 27th May, 2025