s) Provisions, contingent assets and contingent liabilities

Provisions are recognised only when there is a present
obligation, as a result of past events, and when a reliable
estimate of the amount of obligation can be made at
the reporting date. These estimates are reviewed at each
reporting date and adjusted to reflect the current best
estimates. Provisions are discounted to their present values,
where the time value of money is material.

Contingent liability is disclosed for:

• Possible obligations which will be confirmed only
by future events not wholly within the control of the
Company; or

• Present obligations arising from past events where
it is not probable that an outflow of resources will be
required to settle the obligation or a reliable estimate of
the amount of the obligation cannot be made.

Contingent assets are not recognised. However, when inflow
of economic benefit is probable, related asset is disclosed.

t) Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss for the period attributable to equity
shareholders (after deducting attributable taxes) by the
weighted average number of equity shares outstanding
during the period. The weighted average number of equity
shares outstanding during the period is adjusted for events
including a bonus issue.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects
of all dilutive potential equity shares except for anti-dilutive
potential equity shares.

On and from the record date of 16th December 2024, the
face value of equity shares of the Company has been sub-
divided/splitted, such that 1 (one) equity share having face
value of ' 10/- (Rupees Ten Only) each, fully paid-up, stands
sub-divided into 10 (ten) equity shares having face value of '
1/- (Rupee One Only) each, fully paid-up, ranking pari-passu
in all respects. The Earnings per share for the prior period
have been restated considering the face value of ' 1/- each
in accordance with Ind AS 33 - "Earnings per share".

u) Equity, reserves and dividend payment

Equity shares are classified as equity. Incremental costs
directly attributable to the issue of new shares are shown
in equity as a deduction, net of tax, from the proceeds.
Retained earnings include current and prior period retained
profits. All transactions with owners of the Company are
recorded separately within equity. The Board of Directors of
the Company have not recommended any dividend for the
year.

v) Significant management judgement in applying
accounting policies and estimation uncertainty

The preparation of the Company's financial statements
requires management to make judgements, estimates and

assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the related disclosures.

Significant management judgements and estimates

The following are significant management judgements
and estimates in applying the accounting policies of the
Company that have the most significant effect on the
financial statements:

Recognition of deferred tax assets - The extent to which
deferred tax assets can be recognised is based on an
assessment of the probability of the future taxable income
against which the deferred tax assets can be utilised.

Evaluation of indicators for impairment of assets - The

evaluation of applicability of indicators of impairment of
assets requires assessment of several external and internal
factors which could result in deterioration of recoverable
amount of the assets.

Recoverability of advances/receivables - At each balance
sheet date, based on historical default rates observed over
expected life, the management assesses the expected credit
loss on outstanding receivables and advances.

Defined benefit obligation (DBO) - Management's
estimate of the DBO is based on a number of critical
underlying assumptions such as standard rates of inflation,
medical cost trends, mortality, discount rate and anticipation
of future salary increases. Variation in these assumptions
may significantly impact the DBO amount and the annual
defined benefit expenses.

Fair value measurements - Management applies valuation
techniques to determine the fair value of financial instruments
(where active market quotes are not available). This involves
developing estimates and assumptions consistent with how
market participants would price the instrument. Management
uses the best information available. Estimated fair values may
vary from the actual prices that would be achieved in an arm's
length transaction at the reporting date.

Useful lives of depreciable/amortizable assets -

Management reviews its estimate of the useful lives of
depreciable/amortizable assets at each reporting date, based
on the expected utility of the assets. Uncertainties in these
estimates relate to technical and economic obsolescence.

* On and from the record date of 16th December 2024, the face value of equity shares of the Company has been sub- divided/splitted,
such that 1 (one) equity share having face value of ' 10/- (Rupees Ten Only) each, fully paid-up, stands sub-divided into 10 (ten) equity
shares having face value of ' 1/- (Rupee One Only) each, fully paid-up, ranking pari-passu in all respects.

^A During the financial year ended 31st March 2025, after receipt of 25% of the Issue Price of ' 56.20 per Fully Convertible Share Warrant
("Warrant") as subscription amount in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018, the Company made preferential allotment of 11,50,00,000 Warrants on 30th September 2024 and 36,58,02,500
Warrants on 11th October 2024 to Promoter Group and Non-Promoter, Public category entities. Subsequently, the Board of Directors
of the Company by means of resolutions passed by circulations on i) 15th October 2024 allotted 4,35,972 equity shares (face value '
10/- each); ii) 30th October 2024 allotted 3,38,85,000 equity shares (face value ' 10/- each); iii) 12th November 2024 allotted 3,63,75,000
equity shares (face value ' 10/- each); iv) 29th November 2024 allotted 39,87,900 equity shares (face value ' 10/- each); and v) 19th
December 2024 allotted 43,72,91,800 equity shares (face value ' 1/- each), upon conversion of Warrants after receipt of balance 75%
of the Issue Price per Warrant.

$ During the financial year ended 31st March 2025, the Board of Directors of the Company vide a resolution passed by circulation on 17th
March 2025 made preferential allotment of 51,71,14,620 fully paid-up equity shares having face value of ' 1/- each at an issue price of
' 29.20 per share to the Consortium Lenders comprising of 14 Banks, against part of their outstanding debts amounting to ' 1509.97
crores as per the Joint Settlement Agreement dated 30th September 2024 entered into amongst the Company and its Consortium
Lenders.

d) Terms and rights attached to equity shares

As at 31 March 2025, the Company has only one class of equity shares having a par value of ' 1/- each. Each holder of equity shares
is entitled to one vote per share. The Company declares and pays dividends, if any, in Indian Rupees. In the event of liquidation
of the Company, holders of equity shares will be entitled to receive the remaining assets of the Company, after distribution of all
preferential payments. The distribution will be in proportion to the number of equity shares held by the equity shareholders.

e) Shares reserved for issue under options

3,461,867 equity shares are reserved for the issue under the Employees' Stock Option Plan of the Company. Information relating
to Employees' stock option plan, including details of options granted, exercised and lapsed during the financial year and options
outstanding at the end of the reporting period, is set out in note 36.

Retained earnings

Retained earnings are created from the profit/loss of the Company, as adjusted for distributions to owners, transfers to other
reserves, etc.

General reserve

Under the Companies Act 1956, general reserve was created through an annual transfer of net income at a specified percentage in
accordance with Companies (Transfer of profits to Reserve) Rules,1975. Consequent to introduction of the Companies Act 2013, there is
no such requirement to mandatorily transfer a specified percentage of the net profit to general reserve.

Securities premium

Securities premium is used to record the premium on issue of shares. The premium will be utilised in accordance with provisions of the
Companies Act 2013.

Money received against convertible share warrants

Convertible share warrants refer to instruments issued by a company that give the holder the right to acquire equity shares at a future
date, at a pre-agreed price. This mechanism is often used by companies to raise capital commitments while deferring actual equity
dilution. As per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, in the case of warrants, an amount equivalent
to at least 25% of the consideration shall be paid against each warrant on the date of allotment of warrants and the balance 75% of the
consideration shall be paid at the time of allotment of the equity shares pursuant to exercise of options against each such warrant by the
warrant holder. In case the warrant holder does not exercise the option for equity shares against any of the warrants held by the warrant
holder, the consideration paid in respect of such warrant shall be forfeited. Warrants are convertible into equity shares within a maximum
period of 18 months from the date of their allotment.

(ii) Liability towards consortium banks after settlement, cash credit facilities, funded interest term loans, demand loans and bank
overdrafts are secured against first pari passu charge on current assets, property, plant and equipment and fixed deposits of the
Company. These loans are further fully secured by personal guarantees of promoter director and other individuals alongwith
corporate guarantees and collateral securities of other companies.

(iii) During the financial year ended 31st March 2025, the outstanding bank borrowings and related obligations were settled through the One
Time Settlement (OTS) approval of Consortium Lenders comprising of 14 Banks. Accordingly, the Company made payments of the Cash
Consideration to the Consortium Lenders that it had to pay as per the timelines mentioned in the settlement agreement. Also, the Board
of Directors of the Company vide a resolution passed by circulation on 17th March 2025, made preferential allotment of 51,71,14,620 fully
paid-up equity shares having face value of ' 1/- each at an issue price of ' 29.20 per share to the Consortium Lenders, against part of their
outstanding debts amounting to ' 1509.97 crores. The outstanding financial liability as per books of accounts is recognized net of payments
made as per the terms of Joint Settlement Agreement and continues to be recognized pending final discharge in accordance with the
applicable accounting standards. Hence, there are no more defaults pending in payment to lender banks as on 31st March 2025. The Board
of the Company in its meeting held on 19th October 2024 approved the repayment of entire settlement amount to Consortium Lenders on
or before 31st March 2026 subject to conversion of all outstanding Fully Convertible Warrants into equity shares of the Company on or before
31st March 2026. Accordingly, the entire outstanding debt of Consortium Lenders has been classified as current liabilities.

Note:

(a) 'During the year ended 31st March 2025, the Company has accounted income-tax reversals ' 113.85 crore pertaining to prior
years arising due to income-tax refunds of ' 34.13 crores, ' 37.26 crores and ' 42.46 crores for the A.Y. 2015-16, A.Y. 2016-17
& A.Y. 2017-18 respectively , pursuant to orders received under section 250 of the Income-tax Act, 1961. The refund amount
has been adjusted against outstanding demand of A.Y. 2018-19. The interest on the aforementioned income-tax refunds
amounting to ' 51.39 crores have been duly recorded as other income during the year ended 31st March 2025.

(b) The Company is following the option exercised for reduced tax rate permitted under section 115BAA of the Income-tax Act,
1961 for the financial year ended 31st March 2025 as introduced by the Taxation Laws (Amendment) Ordinance 2019.

Defined contribution plans

The Company has certain defined contribution plans. Contributions are made to provident fund in India for employees at the rate of
12% of basic salary as per regulations. The contributions are made to registered provident fund administered by the Government. The
obligation of the Company is limited to the amount contributed and it has no further contractual or any constructive obligation. The
expense recognised during the period towards defined contribution plan is ' 0.63 crore (31 March 2024 : ' 0.90 crore). There are no
amounts outstanding of post employment benefits, other long-term benefits and share based payment for the current and previous
year.

Note 36: Employee Stock Option Plan

PC Jeweller Limited employee Stock option plan 2011

During the year ended 31 March 2012, the Company had formulated Employee Stock Option Scheme referred to as PC Jeweller Limited
Employee Stock Option Plan 2011 (the 'Plan') for all eligible employees/directors of the Company and its subsidiaries.

The plan is implemented by the Nomination and Remuneration Committee constituted by the Company under the policy and framework
laid down by the Company and/ or the Board of Directors of the Company, in accordance with the authority delegated to the Nomination
and Remuneration Committee in this regard from time to time and subject to the amendments, modifications and alterations to the
plan made by the Company and/or the Board of Directors in this regard. The issuance of the options are under the guidance, advice and
directions of the Nomination and Remuneration Committee. Each stock option entitles the grantee thereof to apply for and be allotted
one equity share of the Company upon vesting.

(a) Vesting schedule:

For eligible employees as identified by Nomination and Remuneration Committee, the Options granted under ESOP 2011 shall vest
not earlier than one year and not later than five years from the Grant Date. Within the aforesaid period, the Vesting Plan could be
different for different eligible employees as may be determined by Nomination and Remuneration Committee.

The options granted shall vest so long as the employee continues to be in employment with the Company, i.e., the options will
lapse if the employment is terminated prior to vesting. Even after the options are vested, un-exercised options may be forfeited if
the services of the employee are terminated for reasons specified in the Plan.

Notes :

(i) The Company has given loans to above entities for business purposes. All the loans given are unsecured loans.

(ii) As per the agreement, the rate of interest for the loan till 31st March 2025 is the prevailing 5 year government bond yield and w.e.f 1st April 2025,
the same shall be based on the prevailing 10 year government bond yield.

(iii) The loan is to be repaid within 5 years commencing from 1st January 2025 i.e on or before 31st December 2029.

(iv) As per the agreement, the rate of interest for the loan is the prevailing 10 year government bond yield.

(v) The loan is to be repaid on or before 1st October 2028.

(vi) The loan is to be repaid within 5 years commencing from 29th September 2024 i.e on or before 29th September 2029.

* Net of impairment

Note 39: Hedging activity and derivatives

The Company enters into foreign currency forward contracts to hedge against the foreign currency risk relating to payment of foreign
currency payables. The Company does not apply hedge accounting on such relationships. Further, the Company does not enter into any
derivative transactions for speculative purposes.

Fair value hedge of gold price risk in inventory

The Company enters into contracts to purchase gold wherein the Company has the option to fix the purchase price based on market
price of gold during a stipulated time period. The prices are linked to gold prices. Accordingly, these contracts are considered to have
an embedded derivative that is required to be separated. Such feature is kept to hedge against exposure in the value of inventory
of gold due to volatility in gold prices. The Company designates the embedded derivative in the payable for such purchases as the
hedging instrument in fair value hedging of inventory. The Company designates only the spot-to-spot movement of the gold inventory
as the hedged risk. The carrying value of inventory is accordingly adjusted for the effective portion of change in fair value of hedging
instrument. There is no ineffectiveness in the relationships designated by the Company for hedge accounting.

Disclosure of effects of fair value hedge accounting on financial position:

Hedged item - Changes in fair value of inventory attributable to change in gold prices

Hedging instrument - Changes in fair value of the option to fix prices of gold purchases, as described above

Since there are no outstanding hedging instruments i.e. option to fix gold prices with respect to fair value hedge accounting as at 31
March 2024 & 31 March 2025, there is no impact of change in fair value of the hedged item i.e. inventory of gold.

Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments
to ensure that an economic relationship exists between the hedged item and hedging instrument. The Company enters into hedge
relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and so a qualitative
assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no
longer match exactly with the critical terms of the hedging instrument, the Company uses the hypothetical derivative method to assess
effectiveness. There was no hedge ineffectiveness in any of the periods presented above.

note 40: financial instruments

i) Fair values hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into three levels of
a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement, as follows:

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

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;

Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The carrying value of trade receivables, securities deposits, loans given, cash and bank balances and other financial assets recorded
at amortised cost, is considered to be a reasonable approximation of fair value.

The carrying value of borrowings, trade payables and other financial liabilities recorded at amortised cost is considered to be a
reasonable approximation of fair value.

ii) Risk management

The Company's activities expose it to market risk, liquidity risk and credit risk. This note explains the sources of risk which the entity
is exposed to and how the entity manages the risk and the related impact in the financial statements:

The Company's board has approved a comprehensive Risk Management Policy as well as Forex & Commodity Risk Management
Policy. Taken together these two policies cover nearly the entire gamut of the Company's operations.

A) Credit risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due to the
Company causing financial loss. It arises from outstanding trade receivables to whom the Company has either made direct sales or
sent the goods on consignment.

During the current as well as previous year, the Company's sales are in the domestic segment in which no credit is involved. The
credit risk arises only from the export sales which are on a B2B basis and on a credit basis. The Company has been facing the issue of
overdues in its export receivables for the past six years and currently the entire lot of outstanding export receivables are overdue.
Though the Company has stopped its export business since September 2021, its position of overdue receivables has not improved.

The Company however, has old and existing relationship with its export debtors and continues to remain confident of realizing the
same in due course of time. The Company has therefore not classified any of its outstanding receivables as bad or unrecoverable.
However, at the same time, as a mark of adequate financial prudence, the Company has during the current financial year made
provision in the form of ECL to the tune of ' 1.42 crore, with the total amount of ECL at ' 265.10 crore as on 31 March 2025.

The Company had extended loans to Luxury ProductsTrendsetter Private Limited (wholly owned subsidiary) for business purposes.The
outstanding gross balance of loans (including accrued interest on loan) stands at ' 24.60 crores as on 31 March 2024 and ' 25.20 crores
as on 31 March 2025. An impairment to the tune of ' 2.19 crores has been considered on accrued interest on loan as on 31 March 2025.

The Company has also extended loans to two body corporates namely PC Universal Private Limited, which ceased to be a subsidiary
during the previous financial year and Shivani Sarees Private Limited for business purposes. Their outstanding gross balances of
loans (including accrued interest on loan) as on 31 March 2024 were ' 135.40 crores and ' 8.50 crores and as on 31 March 2025 are
' 140.32 crores and ' 8.43 crores respectively. An impairment to the tune of ' 135.40 crores has been considered towards the loan
(including accrued interest on loan) extended to PC Universal Private Limited for the financial year ended 31st March 2024, which
stands enhanced to ' 140.32 crores for the financial year ended 31st March 2025.

B) Liquidity risk

The company has settled its legal disputes with banks by entering into Joint Settlement Agreement on 30th September 2024.
The Company has returned to normal business operations, as reflected in the improved performance during the third and fourth
quarters of the year. All operational expenditures, vendor obligations, OTS installments, and statutory liabilities have been serviced
in a timely manner, highlighting the Company's renewed financial discipline and operational resilience.

C) Market risk - foreign exchange

The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to US Dollar.
Foreign exchange risk arises from recognised assets and liabilities denominated in a currency that is not the Company's functional
currency. Despite being a net foreign exchange positive entity, the exposure to foreign exchange fluctuations can still pose material
risks to the company's financial performance. These risks may arise from timing mismatches between foreign currency inflows and
outflows, revaluation of assets and liabilities, or broader macroeconomic volatility. To address these challenges, the Company has
adopted a structured and proactive foreign exchange risk management policy.

Sensitivity

The sensitivity to profit or loss from changes in the exchange rates arises mainly from financial instruments denominated
in USD. In case of a reasonably possible change in INR/USD exchange rates of /- 4 % (previous year /-4%) at the reporting
date, keeping all other variables constant, there would have been corresponding impact on losses/profits of ' 52.84 crore
(previous year ' 51.48 crore).

D) market risk - interest rate
i) Liabilities

Interest rate risk arises from borrowings at variable rates. In accordance with the terms of the Joint Settlement Agreement,
the Company has been diligently meeting all its financial obligations to the consortium of lender banks in a timely manner.
Additionally, the interest rate risk on bank borrowings has been significantly mitigated. As per the agreement, the applicable
interest rates on these borrowings are now lower than the average rates originally sanctioned by the consortium banks under
the previous sanction letters.

Sensitivity

The sensitivity to profit or loss in case of a reasonably possible change in interest rates of /- 50 basis points (previous year: /-
50 basis points), keeping all other variables constant, would have resulted in corresponding impact on losses/profits by ' 7.71
crore (previous year ' 15.28 crore).

ii) Assets

The Company's financial assets are carried at amortised cost and are at fixed rate only. They are, therefore, not subject to
interest rate risk since neither the carrying amount nor the future cash flows will fluctuate because of a change in market
interest rates.

E) Market risk - security price

Exposure from investments in mutual funds:

The Company's exposure to price risk arises from investments in mutual funds held by the Company and classified in the balance
sheet as current investments. However, as of 31st March 2025, the Company held no investments in mutual funds. Consequently,
the market risk associated with price fluctuations of market-traded mutual fund investments is no longer applicable.

F) market risk - gold prices:

The Company's exposure to price risk also arises from trade payables of the Company that are at unfixed prices, and, therefore,
payment is sensitive to changes in gold prices. The Company's sales performance has been notably impacted by heightened
market risk sensitivity associated with gold price volatility. Compared to the previous year, gold prices have exhibited significant
and unpredictable fluctuations. However, as of 31st March 2025, the Company does not have any unfixed trade payables linked to
gold prices. Accordingly, there is no outstanding market risk exposure related to gold price movements.

The lease liabilities are secured by the related underlying assets. The maturity analysis of lease liabilities are disclosed
in note 41(ii)(B).

The Company has leases for the factory, offices and showrooms. With the exception of short-term leases and leases
with variable lease payments, each lease is reflected on the balance sheet as a right-of-use asset and a lease liability.
Each lease generally imposes a restriction that, unless there is a contractual right for the Company to sublet the asset to
another party, the right-of-use asset can only be used by the Company. Leases are either non-cancellable or may only be
cancelled by incurring a substantive termination fee. Some leases contain an option to extend the lease for a further term.
The Company is prohibited from selling or pledging the underlying leased assets as security against the Company's other
debts and liabilities. For leases over office buildings and factory premises the Company must keep those properties in a
good state and return the properties in their original condition at the end of the lease. Further, the Company must insure
items of property, plant and equipment and incur maintenance fees on such items in accordance with the lease contracts.
The Company has considered automatic extension option available for the property leases in lease period assessment since the
Company can enforce its right to extend the lease beyond the initial lease period as the Company is likely to be benefited by
exercising the extension option.

During the year ended 31st March 2025, the Company has shut down five owned stores and three franchisee stores located at
various cities. Now the Company has forty nine owned and three franchisee stores as on 31st March 2025.

Note 50: Discount to export customers

During the financial year ended 31st March 2019, the Company had provided discounts to its export customers aggregating to '
513.65 crore and had submitted the requisite applications for approval from the Authorised Dealer Banks as stipulated by the FED
Master Direction No. 16/2015-16 dated 1st January 2016 under the Foreign Exchange Management Act, 1999. Subsequently, the
Company has obtained the approvals from the authorized dealer banks for reduction in receivables corresponding to discounts
amounting to ' 330.49 crore. However, for the remaining discounts of ' 183.16 crore approvals are still pending. The management
however, does not expect any material penalty to be levied on account of this matter and therefore no provision for the same has
been provided in the books of accounts.

Note 51: Delay in receipt of foreign currency against export

Trade receivables as at 31st March 2025, inter alia, include outstanding from export customers aggregating to ' 1512.03 crore. The export
receivables have been outstanding for more than 9 months and have been restated as per the RBI exchange rate as on 31st March 2025.
The Company had filed necessary applications with the requisite authority as per the regulations of the Foreign Exchange Management
Act, 1999 for condonation of delays in repatriation of funds by its export customers. The management is of the view that the possible
penalties that may be levied, are currently unascertainable and are not expected to be material and accordingly, no consequential
adjustments have been made in the books of accounts with respect to such default. However, as a mark of prudent accounting practices
the Company has computed and applied cumulative ECL (Expected Credit Loss) on the outstanding export receivables of ' 265.10 crore
as on 31st March 2025.

note 52: Recoverability of investments, loans and short-term financial assets, given to/due from
subsidiary companies

The Company has investments of ' 133.92 crore (previous year ' 133.92 crore) (excluding impairment) in its wholly-owned subsidiary
companies viz Luxury Products Trendsetter Private Limited, PC Jeweller Global DMCC and PCJ Gems & Jewellery Limited as at 31
March 2025. The Company has also given non current loans amounting to ' 9.12 crore (previous year ' 9.12 crore) (excluding
impairment) to Luxury Products Trendsetter Private Limited and has interest receivable amounting to ' 16.07 crore (previous year
' 15.47 crore)(excluding impairment) which is classified under current financial assets.

note 53: Additional regulatory information

Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet as given in Part I of
Division II of Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere
in any other notes to the Financial Statements.

$ Current assets has increased by 21 % (approx.) mainly due to increase in inventory and Current liability has decreased by
50% (approx.) mainly due to significant reduction in current borrowings from banks , which has contributed to increase in
this ratio.

£ Total debt has decreased by 49 % (approx.) and Total equity has also increased by 112% (approx.) mainly due to allotment
of equity shares, which has contributed to decrease in this ratio.

@ Earnings available for Debt Service has significantly increased by 619 % (approx.) mainly due to decrease in finance costs
as well as increase in profits. Debt service of the company has also increased by 918% due to repayment of borrowings
(including interest) to consortium banks during the year. These have contributed to an increase in this ratio.

#This increase is due to sharp increase in turnover by 1084% (approx.) which has resulted in increase in after tax profits by
189% (approx.) as compared to previous year .

##Turnover has significantly increased by 1084% (approx.) and Net working capital employed has increased by 236%
(approx.) , which has contributed to increase in this ratio.

###Turnover has significantly increased by 1084% (approx.) , which has contributed to increase in this ratio.

*There is a significant increase in total purchases of the company by 2213 % (approx.) as compared to previous year.

^AThere is a significant increase in EBIT by 445% as compared to last year, mainly because turnover of the company increased
by 1084% (approx.) , which has contributed to increase in this ratio.

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

c) The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the year.

d) The Company has submitted stock and debtors statements to the ASM appointed by the banks during the year except for the
quarter ended 31st March 2025. The quarterly statements filed by the Company with the ASM appointed by the banks are in
agreement with the books of account of the Company.

* 100 shares (face value of ' 1 each) were held by struck off company as on 31 March 2025

g) The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies beyond the
statutory period. No creation/modification/satisfaction of charges have taken place during the year.

h) The Company has compiled with the number of layers prescribed under section 2(87) of the Companies Act 2013 read with
Companies (Restrictions on number of Layers) Rules, 2017.

i) 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: (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.

j) 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: (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.

k) The Company does not have 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.

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

m) The Company has the following balances against the loans granted or advances in the nature of loans wherein there is no specific
schedule of repayment of principal or payment of interest:

This is the Summary of significant accounting policies and other For and on behalf of the Board of Directors

explanatory information referred to in our report of even date

for a H p N & Associates Sd/- Sd/-

Chartered Accountants Ramesh Kumar Sharma Balram Garg

Firm's Registration No.: 009452N Executive Director Managing Director

DIN-01980542 DIN-00032083

Sd/- Sd/- Sd/-

Navdeep Gupta Vijay panwar Vishan Deo

Partner Company Secretary Executive Director (Finance) &

Membership No. 091938 Membership No. A19063 Chief Financial Officer

DIN-07634994

Place: New Delhi
Date: 25 May 2025