xi. PROVISION FOR GRATUITY:

As per IND AS 19, the company is requiring to provide for Gratuity payable to the employees. The impact of
the same is not quantified in the absence of actuarial valuation/management estimate. The management is
of the opinion that Gratuity will be debited to profit and loss account when it is actually paid in respective
year.

xii. EARNING PER SHARE

As required by Ind As 33 "Earning Per Share", (EPS) is calculated by dividing the profit attributable to the
equity shareholders by the average number of equities shares outstanding during the year and is
ascertained as follows: For the purpose of calculating diluted earnings per share, the net profit or loss for
the period attributable to equity shareholder and weighted average number of equity share outstanding
during the period is adjusted for the effects of all dilutive potential equity shares.

xiii. CONTINGENT LIABILITY NOT ASCERTAINED:

In the opinion of management there are no contingent liabilities for the year. Since Company has not
entered in any transactions pertaining to Provisions, Contingent liability and contingent assets Hence there
is no contingent liability/assets as on 31st March 2025.

xiv. OTHER MANAGEMENT OPINION:

In the opinion of the management, Current Assets, Deposits, Loans, and advances have fair value equal to
the amounts shown in the Balance Sheet. The provision for depreciation and all the liabilities is not more
than the amount reasonably necessary.

Long term loans and advances receivable amounting to Rs.16,65,40,533/- from KBS is considered as
doubtful because the said company is stuck-off. The company has applied to RBI for the permission to write¬
off but said permission is awaited as on date.

xv. FOREIGN EXCHANGE RATE

In the opinion of the management the foreign currency rate fluctuation for outstanding loans receivable is
not provided as on 31/03/2025 because the said loan in the opinion of management is considered as
doubtful of recovery. Hence effect has neither credited nor debited to the Profit & Loss Account in
accordance with Ind AS 21 regarding the Effects of Changes in Foreign Exchange Rates.

xvi. INTEREST

During the year the company have earned interest accrued from Non-Convertible Debentures and Fixed
deposits with Banks.

xvii. RELATED PARTIES:

As per Accounting Standard (AS) 18, 'Related Party Disclosures' prescribed under the Accounting Standard
Rules, the disclosures of the details of the related parties and the transactions entered with them are given
below:

xviii. SEGMENT REPORTING

As per Ind AS 108 on Segment reporting the Company is engaged in two business segments, one is to
provide brokerage services to its clients in the capital markets within India, from which gross revenue is Rs.
2,49,90,156/- and other is trading of shares from which resulted a loss of Rs. 14,14,067/- Further as the
company's is business is within single geographical location i.e., India the disclosure of secondary segment in
not given separately.

xix. CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand and balance in current accounts, term deposits with banks
and other short-term highly liquid investments with original maturities of three months or less Cash on hand
as on 31st March 2025 are physically verified by the management and certificate in respect of such
verification has been duly furnished to the auditor.

xx. FINANCIAL INSTRUMENT:
a) Financial Assets:

Initial recognition and measurement

All financial assets are recognized normally at fair value but in case of financial asset not recorded at fair
value through profit or loss, then are recognized at transaction cost that are attributable to the acquisition
of the financial asset.

Financial assets are classified, at initial recognition, as financial assets measured at fair value or as financial
asset measured at amortized cost.

Subsequent measurement

For purposes of subsequent measurement financial assets are classified into two broad categories:

• Financial asset at fair value

• Financial asset at amortized cost

Where assets are measured at fair value, gains and losses are either recognized entirely in the statement of
profit or loss (i.e. fair value through profit or loss), or recognized in other comprehensive income (i.e. fair
value through other comprehensive income)

A financial asset that meet the following two conditions is measured at amortized cost (net of any written
down for impairment) unless the asset is designated at fair value through profit or loss under the fair value
option.

Business model test: the objective of the Company's model is to hold the financial asset to collect the
contractual cash flows (rather than to sell the instrument prior to its contractual maturity to realize its fair
value changes)

Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payment of principal and interest on the principal amount outstanding.

A financial asset that meet the following two conditions is measured at fair value through other
comprehensive income unless the asset is designated at fair value through profit or loss under the fair
value option.

Business model test: the financial asset is held within a business model whose objective is achieved both by
collecting contractual cash flows and selling the financial assets

Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payment of principal and interest on the principal amount outstanding.

Debt Instruments included within the fair value through profit or loss (FVTPL) category are measured at fair
value with all changes recognized in the statement of profit or loss.

Equity Instruments: All equity instruments within scope of Ind AS 109 are measured at fair value. Equity
instruments which are classified as held for trading are measured at FVTPL. For all other equity
instruments, the company decides to measure the same either at fair value through other comprehensive
income (FVTOCI) or (FVTPL). The Company makes such selection on an instrument-by-instrument basis. The
classification is made on initial recognition and is irrevocable.

For equity instruments measured at FVTOCI, all fair value changes on the instrument, excluding dividends,
are recognized in Other Comprehensive Income (OCI). There is no recycling of the amounts from OCI to
Statement of profit or loss, even on sale of such instruments.

The Investments are measured at Fair Market Value. The diminution in the market value of investments is
not considered unless such diminution is considered permanent and accordingly provision for diminution is
made in books of accounts.

All other financial asset is measured at fair value through profit or loss.
b) Financial Liability:

Financial Liabilities are classified at initial recognition as:

• Financial liabilities at fair value through profit or loss,

• Loans and borrowings, payables, net of directly attributable transaction costs or

• Derivatives designed as hedging instruments in an effective hedge, as appropriate.

The company's financial liabilities include trade and other payables, loans and borrowings including
derivative financial instruments.

xxi. PRELIMINARY EXPENSES:

During the year company have written off 20% preliminary expenses and transferred to profit/loss account.

xxii. IMPAIRMENT OF NON-FINANCIAL ASSETS:

At each balance sheet date, an assessment is made of whether there is any indication of impairment.

If any indication exists, or when annual impairment testing for an asset is required, the Company estimates
the asset's recoverable amount. An asset's recoverable amount is the higher of an asset's or cash-generating
unit's (CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an
individual asset, unless the asset does not generate cash inflows that are largely independent of those from
other assets or groups of assets.

When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered
impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a 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.

The Company bases its impairment calculation on detailed budgets and forecast calculations, which are
prepared separately for each of the Company's CGUs to which the individual assets are allocated.

xxiii. MICRO, SMALL AND MEDIUM ENTERPRISES:

Based on the information available with the Company, an amount of Rs. 92804/- is payable to a supplier (for
a period not exceeding 45 days) and Rs. NIL (for a period exceeding 45 days) who is registered as micro,
small or medium enterprises under 'The Micro Small and Medium Enterprise Development Act, 2006' as at
31 March 2025.

xxvi. CSR EXPENSES:

The Provision of CSR is not applicable to the company as per the provisions of section 135 of the companies
act 2013, hence no disclosure is required.

xxvii. DIVIDEND:

Management has proposed no dividend during the current financial year on account to conserve the
available resources.

xxviii. PROVISIONS:

A provision is recognized when an enterprise has a present obligation as a result of past event; it is probable
that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate
can be made. Provisions are not discounted to its present value and are determined based on best estimate
required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date
and adjusted to reflect the current best estimates

xxix. ADDITIONAL DISCLOSURES:

Tittle Deeds of Immovable properties- There are no Immovable properties held in the name of the
Company.

Revaluation of Property, Plant and Equipment's (PPE): The Company has not revalued its PPE, accordingly
the disclosure of information related to this point is not applicable.

Capital-work-in-progress (CWIP) : The company does not have CWIP.

Loan and advances granted to promoters, directors, KMPs and the related parties: The Company has not
granted loans and advances in the nature of loan to promoters, directors, KMPs and the related parties (as
defined under the Act), accordingly the disclosure of information related to this point is not applicable.

Intangible Assets under development: - The Company does not have any Intangible Assets under
development as on the Balance Sheet date therefore this disclosure requirement is not applicable.

Details of Benami Property Held: In opinion of the management, neither the Company hold any benami
property nor any proceedings have been initiated or pending against the Company for holding any benami
property under the "Benami Transactions /prohibition) Act. 1988 and Rules made thereunder.

Willful Defaulter: On the basis of information available with the management, the Company is not a willful
defaulter.

Undisclosed Income: During the year. the Company has not surrendered or disclosed any undisclosed
income in the tax assessment under the applicable provisions of the Income Tax Act. 1961 .

Details of Crypto Currency or Virtual Currency: During the year, the Company has neither traded nor
invested in crypto currency or virtual currency.

Relationship with Struck off Companies: In opinion of the management, the Company has not undertaken
any transactions with companies struck off under Section 248 of The Act or Section 560 of Companies Act
1956.

Registration of Charges or Satisfaction with Registrar of Companies: During the year, the Company has not
availed any credit facility accordingly there is no requirement to file form for creation, modification and
satisfaction of charges.

The Company does not have any contract in the nature of derivative or hedging for current as well as
previous year.

NSE vide letter dated dated 28^th November, 2023 had levied a penalty and the same has been paid to the
said exchange. Also, the company has preferred an appeal against the said penalty order with "Securities
Appellant Tribunal" (SAT) and the same is pending as on date.

The other additional disclosures and information's (not specifically disclosed) as required by Schedule III are
either nil or not applicable.

Previous year figures have been regrouped/reclassified/restated to correspond with the figures of the
current year.

The notes referred to above form an integral part of the Balance Sheet.

As per our Audit Report of Even Date

FOR Bhuta Shah & Co. LLP FOR KBS INDIA LIMITED

CHARTERED ACCOUNTANTS CIN: L51900MH1985PLC035718

Firm Registration No.101474W/100100W

CA RAJESH SHAH TUSHAR SHAH NAMITA SHAH CHANDRAKANT MURALI SARDA

LODAYA

(PARTNER) DIRECTOR DIRECTOR CFO Company

Secretary

Membership No.033613 DIN: 01729641 DIN: 02870178

UDIN:

Place: Mumbai Place: Mumbai