2.10 Provisions, contingent liabilities and contingent assets
Provisions

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be
required to settle the obligation. If the effect of the time value of money is material, provisions are
determined by discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. Where discounting is used,
the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. Where there is a possible obligation or
a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or
disclosure is made.

Contingent assets

Contingent assets are not recognized in the financial statements. However, contingent assets are
assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and
related income are recognized in the period in which the change occurs.

2.11 Revenue Recognition
Sale of services

Revenue from contracts with customers is recognised when control of the goods or services
are transferred to the customer at an amount that reflects the consideration to which an
entity expects to be entitled in exchange for transferring goods or services to a customer.

Revenue 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.

The Company identifies the performance obligations in its contracts with customers and recognises

revenue as and when the performance obligations are satisfied. The specific recognition criteria described
below must also be met before revenue is recognised.

Sale of products:

Revenue is recognised upon transfer of control of promised products to customer in an amount that
reflects the consideration which the Company expects to receive in exchange for products.

Revenue from the sale of products is recognised when products are delivered to customer. Revenue is
measured based on the transaction price, which is the consideration, adjusted

for volume discounts, rebates, scheme allowances, price concessions, incentives, and returns, if any, as
specified in the contracts with the customers.

Revenue excludes taxes collected from customers on behalf of the government. Accruals for
discounts/incentives and returns are estimated (using the most likely method) based on accumulated
experience and underlying schemes and agreements with customers. Due to the short nature of credit
period given to customers, there is no financing component in the contract.

2.12 Interest Income

Interest income should be recorded using the effective interest rate (EIR). However, Interest income is
recognized when the Company's right to receive is established.

2.13 Tax Expenses

Tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it
relates to a business combination, or items recognised directly in equity or in Other comprehensive
income.

The Company has determined that interest and penalties related to income taxes, including uncertain tax
treatments, do not meet the definition of income taxes, and therefore accounted for them under Ind AS 37
Provisions, Contingent Liabilities and Contingent Assets.

Current Tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid
to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are
enacted or substantively enacted, at the reporting date. Current income tax relating to items recognised
outside the statement of profit and loss is recognised outside the statement of profit and loss (either in OCI
or in equity in correlation to the underlying transaction). Management periodically evaluates positions
taken in the tax returns with respect to situations in which applicable tax regulations are subject to
interpretation and establishes provisions, where appropriate.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets
and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities and assets are recognized for all taxable temporary differences and deductible
temporary differences.

Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available
against which the deductible temporary differences, and the carry forward of unused tax credits and unused
tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred
tax asset to be utilised.

Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent
that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period
when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted
or substantively enacted at the reporting date.

Deferred tax relating to items recognized outside the statement of profit and loss is recognised outside the
statement of profit and loss (either in OCI or in equity in correlation to the underlying transaction).

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current
tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the
same taxation authority.

Goods and Service Tax (GST) paid on acquisition of assets or on incurring expenses

When the tax incurred on purchase of assets or services is not recoverable from the taxation authority, the
tax paid is recognised as part of the cost of acquisition of the asset or as part of the expense item, as
applicable. Otherwise, expenses and assets are recognized net of the amount of taxes paid. The net amount
of tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in
the balance sheet.

2.14 Earnings Per Share
Basic earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity
shareholders (after deducting preference dividends and attributable taxes) by the weighted average
number of equity shares outstanding during the year.

The weighted average number of equity shares outstanding during the year is adjusted for events such as
bonus issue, bonus element in a rights issue, share split, and reverse share split (consolidation of shares)
that have changed the number of equity shares outstanding, without a corresponding change in
resources.

Diluted earnings per share

Diluted earnings per share is computed by dividing the profit (considered in determination of basic
earnings per share) after considering the effect of interest and other financing costs or income (net of
attributable taxes) associated with dilutive potential equity shares by the weighted average number of
equity shares considered for deriving basic earnings per share adjusted for the weighted average number
of equity shares that would have been issued upon conversion of all dilutive potential equity shares.

2.15 Trade receivables

Trade receivables are initially recognized at fair value and subsequently measured at amortized cost
using effective interest method, less provision for impairment, if any.

2.16 Trade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of
the financial year which are unpaid. The amounts are unsecured and are presented as current liabilities
unless payment is not due within twelve months after the reporting period. They are recognized initially
at fair valueand subsequently measured at amortized cost using the effective interest method.

2.17 Segment Reporting: -

The Managing Director of the company has been identified as being the Chief Operating Decision Maker
(CODM). In the opinion of the management, the company operates in three segments. They are rendering
of services, sales of goods through e-commerce and trading activities. Accordingly, disclosure of segment
information as prescribed in the Indian accounting standard 108 "Operating segments" is applicable.

2.18 Significant accounting judgments, estimates, and assumption

The preparation of the financial statements in conformity with Ind AS requires management to make
judgments, estimates and assumptions that affect the application of accounting policies and the
reported amounts of assets, liabilities, income and expenses. These estimates and associated
assumptions are based on historical experiences and various other factors that are believed to be
reasonable under the circumstances. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimates are revised and in any future periods
affected. In particular, the areas involving critical estimates or Judgment are:

Property, plant and equipment

The depreciation on property, plant and equipment is derived on determining an estimate of an asset's
expected useful life and the expected residual value at the end of its life. The useful lives of Company's
assets are determined in accordance with Schedule-II of Companies Act, 2013. The lives are based on
historical experience with similar assets as well as anticipation of future events, which may impact their
life.

The residual values of Company's assets are determined by management at the time of acquisition of
asset and is reviewed periodically, including at each financial year end.

Impairment of financial and non-financial assets

Significant management judgement is required to determine the amounts of impairment loss on the
financial and nonfinancial assets. The calculations of impairment loss are sensitive to underlying
assumptions.

Tax provisions and contingencies

Significant management judgement is required to determine the amounts of tax provisions and
contingencies. Deferred tax assets are recognised for unused tax losses and MAT credit entitlements to
the extent it is probable that taxable profit will be available against which these losses and credit
entitlements can be utilized. Significant management judgement is required to determine the amount
of deferred tax assets that can be recognized, based upon the likely timing and the level of future
taxable profits together with future tax planning strategies.

Defined benefit plans

The cost of the defined benefit plan and the present value of the obligation are determined using
actuarial valuation. An actuarial valuation involves various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary
increases and mortality rates. Due to the complexities involved in the valuation and its long-term
nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions
are reviewed at each reporting date.

The parameter most subject to change is the discount rate. In determining the appropriate discount
rate for plans operated in India, the management considers the interest rates of government bonds
where remaining maturity of such bond correspond to expected term of defined benefit obligation.

The mortality rate is based on publicly available mortality tables. Those mortality tables tend to change
only at interval in response to demographic changes. Future salary increases and gratuity increases are
based on expected future inflation rates.

Fair value measurement 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 internal valuation
techniques. The inputs to these models are taken from observable markets where possible, but where
this is not feasible, a degree of judgement is required in establishing fair values. Judgements include
considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about
these factors could affect the reported fair value of financial instruments.

2.19 Determination of fair values

The Company's accounting policies and disclosures require the determination of fair value, for certain
financial and non-financial assets and liabilities. Fair values have been determined for measurement
and/or disclosure purposes based on the following methods. When applicable, further information about
the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability. 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.

(i) Property, plant and equipment

Property, plant and equipment, if acquired in a business combination or through an exchange of non¬
monetary assets, is measured at fair value on the acquisition date. For this purpose, fair value is based on

appraised market values and replacement cost.

(ii) Intangible assets

The fair value of brands, technology related intangibles, and patents and trademarks acquired in a
business combination is based on the discounted estimated royalty payments that have been avoided as a
result of these brands, technology related intangibles, patents or trademarks being owned (the "relief of
royalty method"). The fair value of customer related, product related and other intangibles acquired in a
business combination has been determined using the multi-period excess earnings method after
deduction of a fair return on otherassets that are part of creating the related cash flows.

(iii) Inventories

The fair value of inventories acquired in a business combination is determined based on its estimated
selling price in the ordinary course of business less the estimated costs of completion and sale, and a
reasonable profit margin based on the effort required to complete and sell the inventories.

(iv) Investments in equity and debt securities and units of mutual funds

The fair value of marketable equity and debt securities is determined by reference to their quoted market
price at the reporting date. For debt securities where quoted market prices are not available, fair value is
determined using pricing techniques such as discounted cash flow analysis.

In respect of investments in mutual funds, the fair values represent net asset value as stated by the issuers
of these mutual fund units in the published statements. Net asset values represent the price at which the
issuer will issue further units in the mutual fund and the price at which issuers will redeem such units from
the investors.

Accordingly, such net asset values are analogous to fair market value with respect to these investments,
as transactions of these mutual funds are carried out at such prices between investors and the issuers of
theseunits of mutual funds.

2.20 New standards adopted by the company

Ind AS 1 - Presentation of Financial Statements

The amendments require companies to disclose their material accounting policies rather than their
significant accounting policies. Accounting policy information, together with other information, is
material when it can reasonably be expected to influence decisions of primary users of general purpose
financial statements. The company does not expect this amendment to have any significant impact in
its standalone financial statements.

Ind AS 12 - Income Taxes

The amendments clarify how companies account for deferred tax on transactions such as leases and
decommissioning obligations. The amendments narrowed the scope of the recognition exemption in
paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions
that, on initial recognition, give rise to equal taxable and deductible temporary differences. The

company does not expect this amendment to have any significant impact in its standalone financial
statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors

The amendments will help entities to distinguish between accounting policies and accounting
estimates. The definition of a change in accounting estimates has been replaced with a definition of
accounting estimates. Under the new definition, accounting estimates are "monetary amounts in
financial statements that are subject to measurement uncertainty". Entities develop accounting
estimates if accounting policies require items in financial statements to be measured in a way that
involves measurement uncertainty. The company does not expect this amendment to have any
significant impact in its standalone financial statements.

2.21 New Accounting 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. For the year ended
March 31, 2024, MCA has not notified any new standards or amendments to the existing standards
applicable to the Company.

29. Additional Notes to IND AS Financial Statements
29.1 Revenue from contract with customers

Contribution to Provident Fund

The employees of the Company receive benefits from a provident fund, a defined contribution plan. Both
theemployee and employer each make monthly contributions to a government administered fund equal to
12% of the covered employee's qualifying salary. The Company has no further obligations under the plan
beyond its monthly contributions. The Company's Employers contribution to the provident fund and
Employee state insurance is as follows:

29.8 Financial instruments and fair value

All assets and liabilities for which fair value is measured or disclosed in the Ind AS financial statements are
categorised within the fair value hierarchy, as below, 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.

There have been no transfers between levels during the year. The fair values of derivatives are based on
derived mark-to-market values. The management has assessed that the carrying values of financial assets
and financial liabilities for which fair values are disclosed, reasonably approximate their fair values because
these instruments have short-term maturities.

29.9 Financial Risk Management:

The Company's principal financial liabilities comprise borrowings, trade and other payables. The main
purpose of these financial liabilities is to finance the Company's operations. The Company's principal
financial assets include investments, trade and other receivables, cash and cash equivalents, bank balances,
security deposits and derivatives that are out of regular business operations.

The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management
oversees the management of these risks. The Company's risk management is carried out by a treasury
department under policies approved by the Board of Directors. The Board of Directors provides written
principles for overall risk management, as well as policies covering specific areas, such as foreign exchange
risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial
instruments, and investment of excess liquidity.

a. Credit Risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial
instrument fails to meet its contractual obligations, and arises principally from the Company's receivables
from customers and investment securities. Credit risk is managed 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. The Company has the following categories of
financial assets that are subject tocredit risk evaluation.

Trade Receivables: The Company's exposure to credit risk is influenced mainly by the individual
characteristics of each customer. The demographics of the customer, including the default risk of the
industry and country in which the customer operates, also has an influence on credit risk assessment.
Credit risk is managed 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.

Financial assets that are neither past due nor impaired - None of the Company's cash equivalents,
including deposits with banks, were past due or impaired as at 31^st March 2024. Of the total trade and
other receivables, impairment loss is provided for Rs.3,29,56,340/- and Nil as at 31^st March 2023.

Other than trade receivables, the Company has no significant class of financial assets that are past
due or impaired as at 31^st March, 2024.

On account of adoption of Ind AS 109, the Company uses Expected Credit Loss (ECL) model for assessing
the impairment loss. For this purpose, it is weighted average of credit losses with the respective risks of
default occurring as weights. The credit loss is the difference between all contractual cash flows that are
due to an entity as per the contract and all the contractual cash flows that the entity expects to receive,
discounted to the effective interest rate.

b. Liquidity Risks:

The Company's objective is to maintain optimum levels of liquidity to meet its cash and collateral
requirements at all times. The Company relies on a mix of borrowings and excess operating cash flows to
meet its needs for funds. The current committed lines of credit are sufficient to meet its short to
medium/long term expansion needs. The Company monitors rolling forecasts of its liquidity requirements to
ensure it has sufficient cash to meet operational needs while maintaining sufficient headroom on its
undrawn committed borrowing facilities at all times so that the Company does not breach borrowing limits
or covenants (where applicable) on any of its borrowing facilities.

The table below summarises the maturity profile of the Company's financial liabilities on undiscounted basis:

C. Market Risks

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 instruments affected by market risk are deposits with Banks.

The analysis excludes the impact of movements in market variables on: the carrying values of gratuity and
other postretirement obligations; provisions; and the non-financial assets and liabilities.

The following assumptions have been made in calculating the sensitivity analysis:

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because
of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange
rates relates primarily to the Company's operating activities i.e. Cost of material which is denominated in a
foreign currency though the same is payable in INR

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The company has no outstanding bank borrowings. The
company believes that the working capital available is sufficient to meet its current requirements. The
company's exposure to interest rate risk arises primarily from deposits with Banks.

Reasons for above Variance:

1. Decrease in Current Liabilities

2. Increase in Equity

3. Increase in earnings for debt service.

4. Decrease in Profit after Tax.

5. Increase in Inventory.

6. Increase in Trade Receivables

7. Increase in Working capital.

8. Decrease in Net Profit.

9. Increase in Capital Employed.

29.11 Other Statutory Information

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

a) The Company does not have any transactions with struck off companies.

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

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

d) The Company has 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:

i. 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

ii. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

e) 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:

i. 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

ii. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) The Company has not entered in to any 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).

g) The Company has not been declared as willful defaulter by any bank or financial institution or

other lender.

h) 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.

i) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections

230 to 237 of the Companies Act, 2013, during the year.

29.12 Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital, convertible

preference shares, securities premium and all other equity reserves attributable to the equity holders of
the parent. The primary objective of the Company's capital management is to maximize the shareholder
value.

The Company manages its capital structure and makes adjustments in light of changes in economic
conditions and the requirements of the financial covenants. To maintain or adjust the capital structure,
the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue
new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital
plus net debt. The Company includes within net debt, interest bearing loans and borrowings, less cash
and cash equivalents, excluding income from discontinued operations.

The accompanying not es form an integral part of the Ind AS financial Statements

This is the Balance sheet referred to in our report
of even date.

For NSVR & Associates LLP For and on behalf of the Board of directors of

Chartered Accountants M/s. Nihar Info Global Limited

Firm Registration no: 008801S/S200060

Suresh Gannamani Divyesh Nihar Boda Vijaya Lakshmi Boda

Partner Managing Director Director

Membership no: 226870 DIN: - 02796318 DIN: - 02402230

UDIN:24226870BKCTKF3851

Place: Hyderabad
Date: 30/05/2024.