e) Provisions and contingencies

Provisions involving substantial degree of estimation in measurement are recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent liabilities are not recognized but are disclosed in the notes.

Contingent assets are neither recognized nor disclosed in the financial statements.

f) Revenue recognition:

Sale of goods: Revenue from sale of goods is recognised when all the significant risks and rewards of ownership
of goods are transferred to the buyer as per the terms of the contract. The Company retains no effective control of
the goods transferred to a degree usually associated with ownership and no significant uncertainty exists regarding
the amount of the consideration that will be derived from the sale of goods. Sales exclude Goods and Service Tax.

Sale of services: Revenue from services is recognised in accordance with the specific terms of contract on
performance.

Other operating revenues: Other operating revenues comprise of income from ancillary activities incidental to the
operations of the Company and is recognised when the right to receive the income is established as per the terms
of the contract

g) Foreign exchange transactions:

Foreign exchange transactions are recorded at the rate prevailing on the date of the transaction.

Conversion:

Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the
exchange rate at the reporting date. Nonmonetary assets and liabilities that are measured at fair value in a foreign
currency are translated into the functional currency at the exchange rate when the fair value was determined.
Non-monetary assets and liabilities that are measured based on historical cost in a foreign currency are translated
at the exchange rate at the date of the transaction.

Exchange difference:

Exchange differences are recognised in Statement of profit & loss. In accordance with Ind-AS 101 'First Time
Adoption of Indian Accounting Standards', the Company has continued the policy of capitalisation of exchange
differences on foreign currency loans taken before the transition date.Accordingly, exchange differences arising
on translation of long term foreign currency monetary items relating to acquisition of depreciable fixed assets
taken before the transition date are capitalized and depreciated over the remaining useful life of the asset.

h) Employee benefits

i) Defined benefit plan: Gratuity which is defined benefits, is accrued based on an actuarial valuation using the
projected unit credit method at the balance sheet date, carried out by an independent actuary.
Remeasurements, comprising of actuarial gains and losses are recognised immediately in the balance
sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.

ii) Defined contribution plan: Contributions payable to the recognized provident fund and employees state
insurance which is a defined contribution, are charged to the statement of profit and loss, on accrual basis.
The Company has no further obligations under this plan beyond its monthly contributions.

iii) Short term employee benefit: Short-term employee benefits are expensed as the related service is provided.
A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive
obligation to pay this amount as a result of past service provided by the employee and the obligation can be
estimated reliably

i) Borrowings Costs:

Borrowing costs are interest and other costs (including exchange differences relating to foreign currency borrowings
to the extent that they are regarded as an adjustment to interest costs) incurred in connection with the borrowing
of funds. Borrowing costs directly attributable to acquisition or construction of an asset which necessarily take a
substantial period of time to get ready for their intended use are capitalised as part of the cost of that asset. Other
borrowing costs are recognised as an expense in the period in which they are incurred.

j) Taxation

Income-tax expense comprises current tax (i.e. amount of tax for the year determined in accordance with the
income-tax law applicable in the respective jurisdictions) and deferred tax charge or credit (reflecting the tax
effects of timing differences between accounting income and taxable income for the year). Current Income Tax
and deferred taxes relating to items recognized outside profit or loss is recognized outside profit or loss (either in
other comprehensive income or in equity). Current tax and deferred tax items are recognized in correlation to the
underlying transaction either in OCI or directly in equity.

MinimumAlternative Tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits
in the form of adjustment of future income tax liability, is considered as an asset if there is convincing evidence
that the company will pay normal tax in the future and the resultant asset can be measured reliably. Accordingly, it
is recognized as an asset in the balance sheet when it is probable that the future economic benefit associated
with it will flow to the company and the asset can be measured reliably.

The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the
tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are
recognized 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 profits will be available to allow all or part of the deferred tax asset to be utilized.
Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent it has
become probable that future taxable profits will allow the deferred tax asset to be recovered.

The Company offsets the current (on a year on year basis) and deferred tax assets and liabilities, where it has a
legally enforceable right and the deferred taxes relate to the same taxation authority.

k) Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract
conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as lessee

The Company's lease asset classes primarily comprise of lease for land and building. The Company assesses
whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract
conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To
assess whether a contract conveys the right to Control the use of an identified asset, the Company assesses
whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic
benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use
of the asset.

The Company applies a single recognition and measurement approach for all leases, except for short-term leases
and leases of low-value assets. For these short-term and low value leases, the Company recognizes the lease
payments as an operating expense on a straight-line basis over the term of the lease. The Company recognises
lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying
assets as below:

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the
underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated
depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of
right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease
payments made at or before the commencement date less any lease incentives received. Right-of-use
assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful
lives of the underlying assets.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects
the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The
right-of-use assets are also subject to impairment. Refer to the accounting policies in section 'Impairment
of non financial assets'.

ii) Lease Liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present
value of lease payments to be made over the lease term. The lease payments include fixed payments
(including in substance fixed payments) less any lease incentives receivable, variable lease payments that
depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease
payments also include the exercise price of a purchase option reasonably certain to be exercised by the
Company and payments of penalties for terminating the lease, if the lease term reflects the Company
exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are
recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or
condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the
lease commencement date because the interest rate implicit in the lease is not readily determinable. After
the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if
there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future
payments resulting from a change in an index or rate used to determine such lease payments) or a change
in the assessment of an option to purchase the underlying asset. The Company's lease liabilities are included
in other current and non-current financial liabilities.

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases
that have a lease term of 12 months or less from the commencement date and do not contain a purchase
option). It also applies the lease of low-value assets recognition exemption to leases that are considered to
be low value. Lease payments on shortterm leases and leases of low-value assets are recognised as
expense on a straight-line basis over the lease term.

l) Earnings per share

The basic earnings per share is computed by dividing the net profit attributable to equity shareholders for the year
by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is
computed by dividing the net profit after tax by the weighted average number of equity shares considered for
deriving basic earnings per share and also the weighted average number of equity shares that could have been
issued upon conversion of all dilutive potential equity shares. The diluted potential equity shares are adjusted for
the proceeds receivable had the shares been actually issued at fair value which is the average market value of the
outstanding shares. Dilutive potential equity shares are deemed converted as of the beginning of the period,
unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented.

m) Cash flow statement

Cash flows are reported using the indirect method, as explained in theAccounting Standard on Statement of Cash
Flows (Ind AS - 7), whereby profit before tax is adjusted for the effects of transactions of a non - cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, financing
and investing activities of the Company are segregated.

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is

exposed to various risks as follow -

a) Salary Increases- Actual salary increases will increase the Plan's liability. Increase in salary increase rate
assumption in future valuations will also increase the liability.

b) Investment Risk - If Plan is funded then assets liabilities mismatch & actual investment return on assets lower
than the discount rate assumed at the last valuation date can impact the liability.

c) Discount Rate - Reduction in discount rate in subsequent valuations can increase the plan's liability.

d) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valuation can
impact the liabilities.

e) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal
rates at subsequent valuations can impact Plan's liability

37. The company does not have any non -cancellable lease arrangements. Office premises are taken on operating
lease and such lease rentals are charged to revenue on accrual basis.

38. The company is engaged in the manufacture of single product i.e Bright Bars and wires and its activities are
confined to India. As the Company has a single reportable segment, the segment wise disclosure requirement of
Ind-AS-108 on operating segment is not applicable to it.

39. Financial instruments

This section gives an overview of the significance of financial instruments for the Company and provides additional
information on the balance sheet. Details of significant accounting policies, including the criteria for recognition,
the basis of measurement and the basis on which income and expenses are recognised, in respect of each class
of financial asset, financial liability and equity instrument are disclosed

The accounting classification of each category of financial instruments, and their carrying amounts, are set out
below:

B. Fair value hierarchy

The Company uses the following hierarchy for determining and/or disclosing the fair value of financial instruments
by valuation techniques:

(i) Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

(ii) Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e., as prices) or indirectly (i.e. derived from prices).

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

The fair value of the financial assets and liabilities are at the amount that would be received to sell an asset and
paid to transfer a liability in an orderly transaction between market participants at the measurement date. The
following methods and assumptions were used to estimate the fair values:

Non-current fixed-rate and variable-rate borrowings: Fair value has been determined by the Company based on
parameters such as interest rates, specific country risk factors, and the risk characteristics of the financed project.

Other non-current financial assets and liabilities: Fair value is calculated using a discounted cash flow model with
market assumptions, unless the carrying value is considered to approximate to fair value.

Derivative financial assets/liabilities: The Company has not entered into any derivative financial instruments with
various counterparties.

Trade receivables, cash and cash equivalents, other bank balances, loans, other financial assets, current
borrowings, trade payables and other current financial liabilities: fair values approximate their carrying amounts
largely due to the short-term maturities of these instruments.

For all other financial instruments, the carrying amount is either the fair value, or approximates the fair value.

The estimated fair value amounts as at March 31,2024 have been measured as at that date. As such, the fair
values of these financial instruments subsequent to reporting date may be different than the amounts reported at
each year-end.

There were no transfers between Level 1, Level 2 and Level 3 during the year.

40. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
A. Financial risk factors

The Company is exposed to various financial risks i.e. market risk, credit risk and risk of liquidity. These risks are
inherent and integral aspect of any business. The primary focus of the Risk Management Policy is to foresee the
unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance.
The primary market risk consists of foreign exchange risk and interest rate risk. The Company calculates and
compares the various proposals of funding by including cost of currency hedging also. The Company uses derivative
financial instruments (Forward Covers) to reduce foreign exchange risk exposures.

i. Credit risk

The Company evaluates the customer credentials carefully from trade sources before extending credit terms and
credit terms are extended to only financially sound customers. The Company secures adequate advance from its
customers whenever necessary and hence risk of bad debt is limited. The credit outstanding is sought to be
limited to the sum of advances and credit limit determined by the Company. The Company have stop supply
mechanism in place in case outstanding goes beyond agreed limits.

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
fluctuation in market prices. These comprise three types of risk i.e. currency rate , interest rate and other price
related risks. Financial instruments affected by market risk include loans and borrowings, deposits, investments,
and derivative financial instruments. Foreign currency risk is the risk that the fair value or future cash flows of a
financial instrument will fluctuate because of changes in foreign exchange rates. 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. Regular interaction with bankers, intermediaries and the market participants help us to mitigate such risk.

a. Foreign Currency risk

The primary market risk to the Company is foreign exchange risk. The Company uses derivative financial
instruments to reduce foreign exchange risk exposures and follows its risk management policies to mitigate
the same. After taking cognisance of the natural hedge, the company takes appropriate hedges to mitigate
its risk resulting from fluctuations in foreign currency exchange rate(s) During the year there is no foreign
currency transaction.So the risk of foreign currency is not reported as there is no risk cover to it.

b) Interest Rate Risk and Sensitivity

The Company's exposure to the risk of changes in market interest rates relates primarily to long term debt.
Borrowings at variable rates expose the Company to cash flow interest rate risk. With all other variables
held constant, the following table demonstrates composition of fixed and floating rate borrowing of the
Company and impact of floating rate borrowings on Company's profitibality.

iii Liquidity risk

Liquidity risk arises when the Company will not be able to meet its present and future cash and collateral obligations.
The risk management action focuses on the unpredictability of financial markets and tries to minimise adverse
effects. The Company uses derivative financial instruments to hedge risk exposures. Risk management is carried
out by the Finance department under Forex Policies as adopted and duly approved by the Board. The Company's
approach is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due and
Company monitors rolling forecasts of its liquidity requirements.

The Company's Policy is to maintain an adequate capital base so as to maintain creditor and market confidence
and to sustain future development. Capital includes issued capital, share premium and all other equity reserves
attributable to equity holders. In order to strengthen the capital base, the Company may use appropriate means to
enhance or reduce capital, as the case may be.

43. Amounts, due and outstanding, to be credited to Investor Education and Protection Fund as on 31st March, 2024
- Nil. (p.y Nil).

44. Earnings/Outgoings in foreign currency: (Rs in lakhs)

Earnings : Nil (Previous year Nil)

Outgo : NIl ( Previous year Nil)

45. a)The company has had no transactions with companies struck off under section 248 of the CompaniesAct, 2013

or section 560 of Companies Act, 1956.

b) There are no transactions which are not recorded in the books of accounts that have been surrendered or disclosed
as income during the year in the tax assessments under the Income Tax Act, 1961

c) The Provisions of Corporate Social Responsibility under Section 135 of the CompaniesAct, 2013 are not applicable
to the Company for the year

d) The Company does not holds any Benami property and there are no proceedings against the company under the
benami transaction (prohibition) Act 1988 (as amended from time to time.)

e) Creation or satisfaction of charges are not pending for registration with Registrar of companies beyond the statutory
period.

f) The Company has not been declared as a wilful defaulter (as per RBI circular) by any bank or financial institution
or any other lender at any time during the financial year or after the end of the reporting period.

As per our report attached

For Dagliya & Co. For and on behalf of the Board

Chartered Accountants
ICAI Firm's Reg. No. 00671S

Sd/- Sd/- Sd/- Sd/- Sd/-

(Mayank Jain) (Aditya Chachan) (Sanjay Solanki) (Alphonsa Domingo) (Rajat Agrawal)

Partner Managing Director Director CFO Company Secretary

M.No.225914 Din: 10349309 Din: 02378551

Place : Hyderabad

Date: 30.05.2024

UDIN: 24225914BKCNAJ8708