2.11 Provisions and contingent liabilities

Provisions are recognized when there is a present obligation as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and there is a
reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the
expenditure required to settle the present obligation at the Balance sheet date.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognized as a finance cost.

The Company records a provision for decommissioning costs. Decommissioning costs are provided at the
present value of expected costs to settle the obligation using estimated cash flows and are recognized as
part of the cost of the particular asset. The cash flows are discounted at a current pre-tax rate that reflects the
risks specific to the decommissioning liability. The unwinding of the discount is expensed as incurred and
recognized in the statement of profit and loss as a finance cost. The estimated future costs of
decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future
costs or in the discount rate applied are added to or deducted from the cost of the asset.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain
future events not wholly within the control of the Company or a present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle or a reliable
estimate of the amount cannot be made.

2.12 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks, cash on hand and short-term
deposits net of bank overdraft with an original maturity of three months or less, which are subject to an
insignificant risk of changes in value.

For the purposes of the cash flow statement, cash and cash equivalents include cash on hand, cash in
banks and short-term deposits net of bank overdraft.

2.13 Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.

(a) Financial assets

(i) Initial recognition and measurement

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity. Financial assets and financial liabilities are initially
measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of
financial assets and financial liabilities (other than financial assets and financial liabilities at fair
value through profit or loss) are added to or deducted from the fair value of the financial assets or
financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to
the acquisition of financial assets or financial liabilities at fair value through profit or loss are
recognised immediately in profit or loss.

(ii) Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

a) at amortized cost; or

b) at fair value through other comprehensive income; or

c) at fair value through profit or loss.

The classification depends on the entity’s business model for managing the financial assets and
the contractual terms of the cash flows.”

Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows
represent solely payments of principal and interest are measured at amortized cost. Interest income from
these financial assets is included in finance income using the effective interest rate method (EIR).

Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual
cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of
principal and interest, are measured at fair value through other comprehensive income (FVOCI).
Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or
losses, interest revenue and foreign exchange gains and losses which are recognized in Statement of Profit
and Loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in
OCI is reclassified from equity to Statement of Profit and Loss and recognized in other gains/ (losses).
Interest income from these financial assets is included in other income using the effective interest rate
method.

Fair value through profit or loss (FVTPL): Assets that do not meet the criteria for amortized cost or FVOCI are
measured at fair value through profit or loss. Interest income from these financial assets is included in other
income.

(iii) Impairment of financial assets

In accordance with Ind AS 109, Financial Instruments, the Company applies expected credit loss
(ECL) model for measurement and recognition of impairment loss on financial assets that are
measured at amortized cost and FVOCI.

For recognition of impairment loss on financial assets and risk exposure, the Company determines
that whether there has been a significant increase in the credit risk since initial recognition. If credit risk
has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit
risk has increased significantly, lifetime ECL is used. If in subsequent years, credit quality of the
instrument improves such that there is no longer a significant increase in credit risk since initial
recognition, then the entity reverts to recognizing impairment loss allowance based on 12 months
ECL.

Life time ECLs are the expected credit losses resulting from all possible default events over the
expected life of a financial instrument. The 12 months ECL is a portion of the lifetime ECL which results
from default events that are possible within 12 months after the year end.

ECL is the difference between all contractual cash flows that are due to the Company in accordance
with the contract and all the cash flows that the entity expects to receive (i.e. all shortfalls), discounted
at the original EIR. When estimating the cash flows, an entity is required to consider all contractual
terms of the financial instrument (including prepayment, extension etc.) over the expected life of the
financial instrument. However, in rare cases when the expected life of the financial instrument cannot
be estimated reliably, then the entity is required to use the remaining contractual term of the financial
instrument.

In general, it is presumed that credit risk has significantly increased since initial recognition if the
payment is more than 30 days past due.

ECL impairment loss allowance (or reversal) recognized during the year is recognized as
income/expense in the statement of profit and loss. In balance sheet ECL for financial assets
measured at amortized cost is presented as an allowance, i.e. as an integral part of the measurement
of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset
meets write off criteria, the Company does not reduce impairment allowance from the gross carrying
amount.

(iv) Derecognition of financial assets

A financial asset is derecognized only when

a) the rights to receive cash flows from the financial asset is transferred or

b) retains the contractual rights to receive the cash flows of the financial asset, but assumes a
contractual obligation to pay the cash flows to one or more recipients.

Where the financial asset is transferred then in that case financial asset is derecognized only if
substantially all risks and rewards of ownership of the financial asset is transferred. Where the
entity has not transferred substantially all risks and rewards of ownership of the financial asset,
the financial asset is not derecognized.

(b) Financial liabilities

(i) Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through
profit or loss and at amortized cost, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of borrowings and
payables, net of directly attributable transaction costs.

(ii) Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:
Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and
financial liabilities designated upon initial recognition as at fair value through profit or loss.
Separated embedded derivatives are also classified as held for trading unless they are
designated as effective hedging instruments. Gains or losses on liabilities held for trading are
recognized in the Statement of Profit and Loss.

(iii) Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. When an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as the derecognition of the original liability
and the recognition of a new liability. The difference in the respective carrying amounts is
recognized in the Statement of Profit and Loss as finance costs.

(c) Equity instruments:

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which
are held for trading and contingent consideration recognised by an acquirer in a business
combination to which Ind AS103 applies are classified as at FVTPL. For all other equity
instruments, the Company may make an irrevocable election to present in other comprehensive
income subsequent changes in the fair value. The Company makes such election on an
instrument- by-instrument basis. The classification is made on initial recognition and is
irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes
on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the
amounts from OCI to P&L, even on sale of investment. However, the Company may transfer the
cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all
changes recognized in the profit and loss.

(d) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet
where there is a legally enforceable right to offset the recognized amounts and there is an
intention to settle on a net basis or realize the asset and settle the liability simultaneously. The
legally enforceable right must not be contingent on future events and must be enforceable in the
normal course of business and in the event of default, insolvency or bankruptcy of the Company
or the counterparty.

2.14 Employee Benefits

(a) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled
wholly within 12 months after the end of the year in which the employees render the related service are
recognized in respect of employees’ services up to the end of the year and are measured at the
amounts expected to be paid when the liabilities are settled. The liabilities are presented as current
employee benefit obligations in the balance sheet.

(b) Other long-term employee benefit obligations
(i) Defined contribution plan

Provident Fund: Contribution towards provident fund is made to the regulatory authorities, where
the Company has no further obligations. Such benefits are classified as Defined Contribution
Schemes as the Company does not carry any further obligations, apart from the contributions

made on a monthly basis which are charged to the Statement of Profit and Loss.

(ii) Defined benefit plans

Gratuity: The Company provides for gratuity, a defined benefit plan (the ‘Gratuity Plan”) covering
eligible employees in accordance with the Payment of Gratuity Act, 1972. The Gratuity Plan
provides a lump sum payment to vested employees at retirement, death, incapacitation or
termination of employment, of an amount based on the respective employee’s salary. The
Company’s liability is actuarially determined (using the Projected Unit Credit method) at the end
of each year. Actuarial losses/gains are recognized in the other comprehensive income in the
year in which they arise.

2.15 Borrowing cost

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying
asset are capitalized as part of the cost of the respective asset till such time the asset is ready for its intended
use or sale. A qualifying asset is an asset which necessarily takes a substantial period of time to get ready for
its intended use or sale. Ancillary cost of borrowings in respect of loans not disbursed are carried forward
and accounted as borrowing cost in the year of disbursement of loan. All other borrowing costs are
expensed in the period in which they occur. Borrowing costs consist of interest expenses calculated as per
effective interest method, exchange difference arising from foreign currency borrowings to the extent they
are treated as an adjustment to the borrowing cost and other costs that an entity incurs in connection with
the borrowing of funds.

2.16 Statement of Cash Flows

Cash flows are reported using the indirect method, where by net profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or
payments and item of income or expenses associated with investing or financing cash flows. The cash flows
from operating, investing and financing activities are segregated.

2.17 Earnings Per Share

“Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity
shareholders by the weighted average number of equity shares outstanding during the year. Earnings
considered in ascertaining the Company’s earnings per share is the net profit or loss for the year after
deducting preference dividends and any attributable tax thereto for the year. The weighted average number
of equity shares outstanding during the year and for all the years presented is adjusted for events, such as
bonus shares, other than the conversion of potential equity shares, that have changed the number of equity
shares outstanding, without a corresponding change in resources.

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

2.18Recent 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 t ime. For the year ended March 31,
2026, MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases, relating
to sale and leaseback transactions, applicable to the Group w.e.f. April 1,2024. The Group has reviewed the
new pronouncements and based on its evaluation has determined that it does not have any significant
impact in its financial statements.

7.1 Terms/ Rights attached to Equity Shares :

i) The Company has only one class of equity shares having at par value of Rs. 10 per share. Each holder of
equity share is entitled to one vote per equivalent fully paid up equity share.

ii) In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equivalent fully paid up equity shares held by the shareholders.

iii) The Company declare and pays dividend in Indian Rupees. Each equity share has the same right of
dividend.

18.1 Nature and purpose of reserves

(a) Securities Premium Reserve : Securities premium is used to record the premium received on issue of
shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

(b) Retained earnings : Retained earnings represent the accumulated earnings net of losses if any made
by the company over the years as reduced by dividends or other distributions paid to the shareholders
and includes other comprehensive income

(c) Equity instrument through OCI : The Company has elected to recognise changes in the fair value of
certain investment in equity instrument in other comprehensive income. This amount to be reclassified
to retained earnings on derecognition of equity instrument.

18.2 Money Received Against Share Warrant - Converted into Equity Shares

On the Basis of the approval of the Shareholders at its Annual General Meeting held on 19th August, 2024 , the
company has alloted 19,33,324 share warrants at a price of Rs. 45 per warrant including premium of Rs. 35 per
warrant on preferential basis on 30th October, 2024 and received amount of Rs. 217.50 lakhs as 25% of the
consideration for share warrants as per the terms of the offer. On receipt of balance 75% amount on 30th
October 2025, these share warrants were converted into equity shares in the ratio of 1:1 as per the terms of the
offer and the allotment of equity shares were made in the board meeting held on 1st December, 2025 . The
equity shares allotted pursuant to exercise of such warrant are subject to lock-in period as specified under
chapter V of Sebi ICDR regulations.

Notes:-

EBIT - Earnings before interest and taxes.

EBITDA - Earnings before interest, taxes, depreciation and amortization.

PAT - Profit after taxes
43. Other Notes

1) The company has not taken any borrowings from banks.

2) The Company has not been sanctioned working capital limits by banks or financial institutions on the basis of
security of current assets at any point of time during the year

(3) The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or
section 560 of Companies Act, 1956.

(4) 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 onbehalf of the Funding
Party (Ultimate Beneficiaries) or (b) Provide any guarantee, security, or the like on behalf of the Ultimate
Beneficaries.

(5) The Company has no such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961
(such as search or survey).

(6) The Company does not have any Benami property, where any proceeding has been initiated or pending
against the company

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

(8) The Company has not traded or invested in Crypto currency or Virtual Currency during the year

(9) The Company does not have outstanding term derivative contracts as at the end of respective years.

(10) The company have not received funds (which are material either individually or in the aggregate )from any
person or entity including foreign entities ( Funding parties), with the understanding ,whether recorded or 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.

(11) There are no amounts which are required to be transferred to the Investor Education and Protection Fund by
the Company.

The Company’s chief operating decision maker - Board of Directors examines the Company’s performance
and has identified three reportable segments of its business as follows:

-Renting/Hire of Elecric Vehicle (2 wheelers): The company has acquired elecric vehicles during the year
and earning revenue from customers on right to use basis.

-Food and beverages : The Company is also engaged in the trading of various categories of drinks both
carabonated and pulp based including drinking waters.

-Hospitability business: Offers services for loading boardings in form of room rent and restaurent services
including banquent services to various customers . To carry out said services, the company has acquired an
Hotel at Gujarat on rental basis.

The above operating segments have been identified considering:

(i) The internal financial reporting systems

(ii) The nature of the product/services

(iii) The risk return profile of individual divisions

Revenue and expenses has been accounted on the basis of their relationship to the operating activities of
the segment. Income and expenses, which relate to the Company as a whole and are not allocable to
segments on a reasonable basis, have been included under “Unallocable Income” and “Unallocable
Expenses” respectively. Assets and Liabilities, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, have been included under “Unallocable Assets/ Liabilities”.

No operating segments have been aggregated to form the above reportable operating segments.

Note:

(i) All financial assets and financial liabilities are measured at amorized cost except Investment which is valued
at Fair value through profit or loss

(ii) All Current assets are expected to be recovered within twelve months from the reporting date

(b) Fair Valuation Techniques

The Company maintains policies and procedures to value financial assets or financial liabilities using the
best and most relevant data available. The fair values of the financial assets and liabilities are included at the
amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date.

The management assessed that fair value of Trade Receivables (Net), Cash and Cash Equivalents, Other
Bank Balances, Loans, Other Financial Asset - Current , Borrowings - Current, Trade Payables and Other
Financial Liabilities - current approximate their carrying amounts largely due to the short-term maturities of
these instruments. Further, the management has assessed that fair value will be approximate to their
carrying amounts as they are priced to market interest rates on or near the end of reporting year.

(c) Fair Value Hierarchy

Financial assets and financial liabilities are measured at fair value in the financial statement and 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 (unadjusted) prices in active markets for identical assets or liabilities.

Level 2 : Other techniques for which all inputs which have a significant effect on the recorded fair value are
observable, either directly or indirectly.

Level 3 : Techniques which use inputs that have a significant effect on the recorded fair value that are not
based on observable market data.

There are no Financial assets and liabilities measured at fair value through profit or loss at each reporting
date. Hence, further classification of financial assets into Level 1, Level 2 and Level 3 is not given except
Current Investments which is valued at Fair Value through profit or loss. Current Investment is classified into
Level 1.

The Company’s Board of Directors has overall responsibility for the establishment and oversight of the
Company’s risk management framework. The board of directors is responsible for developing and
monitoring the Company’s risk management policies. The Company’s risk management policies are
established to identify and analyze the risk faced by the Company, to set appropriate risk limits and controls
and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly
to reflect changes in market conditions and the Company’s activities. The Company’s Board of Directors
oversees how management monitors compliance with the Company’s risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by
the Company. The Board of Directors is assisted in its oversight role by internal audit team. Internal audit
team undertakes both regular and ad hoc reviews of risk management controls and procedures, the results
of which are reported to the Board of Directors.

The Company has exposure to the following risks arising from financial instruments:

• Credit risk;

• Liquidity risk;

• Market risk

• Interest rate risk

(a) Credit Risk :

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities
(primarily trade receivables) and from its financing activities, including deposits with banks and other
financial instruments.

Trade Receivable

Customer credit risk is managed by the business unit subject to the Company’s established policy,
procedures and control relating to customer credit risk management. To manage trade receivable, the
Company periodically assesses the financial reliability of customers, taking into account the financial
conditions, economic trends, analysis of historical bad debts and aging of such receivables. For
receivables, as a practical expedient, the Company computes expected credit loss allowance based on a
provision matrix. The provision matrix is prepared based on historically observed default rates over the
expected life of trade receivables and is adjusted for forward-looking estimates.

The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial
assets disclosed in Note 45(a). The Company does not hold collateral as security.

Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the management in
accordance with the Company’s policy. Counter party credit limits are reviewed by the management on an
annual basis, and may be updated throughout the year . The limits are set to minimise the concentration of
risks and therefore mitigate financial loss through counter party’s potential failure to make payments.

(b) Liquidity Risk :

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with
its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach
to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities
when they are due, under both normal and stressed conditions, without incurring unacceptable losses or
risking damage to Company’s reputation.

Management monitors rolling forecasts of the Company’s liquidity position and cash and cash equivalents
on the basis of expected cash flows to ensure it has sufficient cash to meet operational needs. Such
forecasting takes into consideration the Company’s debt financing plans, covenant compliance and
compliance with internal statement of financial position ratio targets.

(c) Market Risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and
equity prices - will affect the Company’s income or the value of its holdings of financial instruments. Market
risk is attributable to all market risk sensitive financial instruments including foreign currency receivables
and payables and long term debt. The Company is exposed to market risk primarily related to foreign
exchange rate risk, interest rate risk and the market value of certain commodities. Thus, its exposure to
market risk is a function of investing and borrowing activities and revenue generating and operating
activities. The objective of market risk management is to avoid excessive exposure in revenues and costs.

(i) Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate
risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the
interest rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing
investments will fluctuate because of fluctuations in the interest rates.

Fair Value Sensitivity Analysis for Fixed-Rate Instruments

The Company does not account for any fixed-rate financial assets or financial liabilities at fair value through
profit or loss. Therefore, a change in interest rates at the reporting date would not affect profit or loss.

Fair Value Sensitivity Analysis for Floating-Rate Instruments

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that
portion of loans and borrowings affected. With all other variables held constant, the Company’s profit before
tax is affected through the impact on floating rate borrowings, is as follows:

(ii) Foreign Currency Exposure

The Company does not have outstanding balances denominated in foreign currencies; consequently,
exposures to exchange rate fluctuations will not arise.

(iii) Commodity Risk

The Company is not materially exposed to commodity price risk. The Company also does not carry out any
commodity hedging activities.

47 Capital Risk Management

The Company manages its capital to ensure that it will be able to continue as a going concern so, that they
can continue to provide returns for shareholders and benefits for other stakeholders and maintain an
optimal capital structure to reduce cost of capital. The Company manages its capital structure and make
adjustments to, in light of changes in economic conditions, and the risk characteristics of underlying assets.
In order to achieve this overall objective, the Company’s capital management, amongst other things, aims
to ensure that it meets financial covenants attached to the borrowings that define the capital structure
requirements.

Consistent with others in the industry, the Company monitors capital on the basis of the gearing ratio. The
ratio is calculated as net debt divided by equity. Net debt is calculated as total borrowing (including current
and non-current terms loans as shown in the balance sheet).