11. Accounting for provisions, contingent liabilities and
contingent assets

Provisions are recognised in the balance sheet when the
Company has a present obligation (legal or constructive)
as a result of a past event, which is expected to result in an
outflow of resources embodying economic benefits which
can be reliably estimated. Each provision is based on the best
estimate of the expenditure required to settle the present
obligation at the balance sheet date. Where the time value of
money is material, provisions are measured on a discounted
basis. The expense relating to any provision is presented in
the statement of profit and loss net of any reimbursement.

Constructive obligation is an obligation that derives from an
entity's actions where:

a. by an established pattern of past practice, published
policies or a sufficiently specific current statement, the
entity has indicated to other parties that it will accept
certain responsibilities, and

b. as a result, the entity has created a valid expectation
on the part of those other parties that it will discharge
those responsibilities

Contingent liabilities are not recognised in the financial
statements. 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 the obligation or a reliable estimate of the amount
cannot be made.

12. Income tax

Income tax expense comprises both current and deferred tax.
Current and deferred taxes are recognised in the statement
of profit and loss, except when they relate to items credited
or debited either in other comprehensive income or directly
in equity, in which case the tax is also recognised in other
comprehensive income or directly in equity.

Current income-tax is recognised at the amount expected to
be paid to the tax authorities, using the tax rates and tax laws,
enacted or substantially enacted as at the balance sheet date.

Taxable profit differs from net profit as reported in the
Standalone statement of profit and loss because it excludes
items of income or expense that are taxable or deductible
in other years and it further excludes items that are never
taxable or deductible.

Deferred income tax assets and liabilities are recognised for
temporary differences arising between the tax base of assets
and liabilities and their carrying amounts in the financial
statements and is accounted for using the balance sheet
liability method.

Deferred income tax assets are recognised to the extent 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 utilised.

The carrying amount of deferred income 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 or part of the deferred income tax asset
to be utilised.

Deferred tax assets and liabilities are measured using tax
rates and laws, enacted or substantially enacted as of the
balance sheet date and are expected to apply to taxable
income in the years in which those temporary differences are
expected to be recovered or settled. The effect of changes
in tax rates on deferred income tax assets and liabilities
is recognised as an income or expense in the period that
includes the enactment or substantive enactment date.

Minimum Alternate Tax (MAT) paid in a previous years
standing as the MAT credit on the asset side has now been
written off and charged to the statement of profit and loss
as the company has opted for Section 115BAA under Income
Tax Act from Financial Year 2019-20. Accordingly, MAT is de¬
recognised from the Balance Sheet as there will be no future
economic benefit associated with it to the Company.

Deferred tax assets and liabilities are offset to the extent that
they relate to taxes levied by the same tax authority and they
are in the same taxable entity, or a Group of taxable entities
where the tax losses of one entity are used to offset the
taxable profits of another and there are legally enforceable
rights to set off current tax assets and current tax liabilities
within that jurisdiction.

13. Recognition of Dividend and Interest income

Dividend income (including from FVOCI investments)
is recognised when the Company's right to receive the
payment is established, it is probable that the economic
benefits associated with the dividend will flow to the entity
and the amount of the dividend can be measured reliably.
This is generally when the shareholders or Board of Directors
approve the dividend.

Under Ind AS 109 interest income is recorded using
the Effective Interest Rate (EIR) method for all financial
instruments measured at amortised cost, debt instrument
measured at FVOCI and debt instruments designated at
FVTPL. The EIR is the rate that exactly discounts estimated
future cash receipts through the expected life of the financial
instrument or, when appropriate, a shorter period, to the net
carrying amount of the financial asset.

The EIR (and therefore, the amortised cost of the asset) is
calculated by taking into account any discount or premium on
acquisition, fees and costs that are an integral part of the EIR.

14. Dividends on ordinary shares

The Company has not declared the dividend during the
financial year ended 31^st March 2025.

15. Leases

Ind AS 116 Leases was notified on 30^th March, 2019 and it
replaces Ind AS 17 Leases, including appendices thereto.
Ind AS 116 is effective for annual periods beginning on or
after 1^st April, 2019. Ind AS 116 sets out the principles for the
recognition, measurement, presentation and disclosure of
leases and requires lessees to account for all leases under a
single on-balance sheet model similar to the accounting for
finance leases under Ind AS 17. The standard includes two
recognition exemptions for lessees - leases of 'low-value'
assets (e.g., personal computers) and short-term leases
(i.e., leases with a lease term of 12 months or less). At the
commencement date of a lease, a lessee will recognise a
liability to make lease payments (i.e., the lease liability) and
an asset representing the right to use the underlying asset
during the lease term (i.e., the right-of-use asset). Lessees
will be required to separately recognise the interest expense
on the lease liability and the depreciation expense on the
right-of-use asset. During the previous period, the Company
has discontinued its long term lease agreements and have
replaced it with short term lease agreements, hence the

Company reversed all the impacts related to Ind AS 116
already given in early financial years.

16. Segment reporting

The Company is primarily engaged in the business of
investment in Companies As such the Company's financial
statements are largely reflective of the investment business
and there is no separate reportable segment.

Pursuant to Ind AS 108 - Operating Segments, no segment
disclosure has been made in these financial statements, as
the Company has only one geographical segment and no
other separate reportable business segment.

17. Onerous contracts

Provisions for onerous contracts are recognised when the
expected benefits to be derived by the Company from a
contract are lower than the unavoidable costs of meeting
the future obligations under the contract. The provision is
measured at the present value of the lower of the expected
cost of terminating the contract and the expected net
cost of continuing with the contract. Before a provision is
established, the Company recognises any impairment loss
on the assets associated with that contract.

18. Earnings per share

Basic earnings per share have been computed by dividing
net income attributable to ordinary equity holders by the
weighted average number of shares outstanding during
the year. Partly paid-up equity share is included as fully
paid equivalent according to the fraction paid up. Diluted
earnings per share has been computed using the weighted
average number of shares and dilutive potential shares,
except where the result would be anti-dilutive.

19. Recent Accounting Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standards
or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to
time. During the year ended March 31,2025, MCA has notified
Ind AS 117 Insurance Contracts and amendments to Ind As
116 - Leases, relating to sale and lease back transactions,
applicable from April 1, 2024. The Company has assessed
that there is no impact on its financial statements.

On May 9, 2025, MCA notifies the amendments to Ind AS
21 - Effects of Changes in Foreign Exchange Rates. These
amendments aim to provide clearer guidance on assessing
currency exchangeability and estimating exchange
rates when currencies are not readily exchangeable. The
amendments are effective for annual periods beginning
on or after April 1, 2025. The Company is currently
assessing the probable impact of these amendments on its
financial statements.

Par value per share is ' 10 each.

The Company has only one class of Ordinary shares having a par value of '10 per share. Each shareholder is eligible for one
vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the shareholders are eligible
to receive the remaining assets of the Company after distribution of all preferential amounts, if any, in proportion to their
shareholding.

*The Board of Directors on recommendation of Stakeholder Relationship Committee at its meeting held on January 2, 2025 approved
the transfer of ' 44,81,500 (Rupees Forty Four Lakhs Eighty One Thousand Five Hundred) lying in the Share Forfeiture Account to the
Capital Reserve Account and necessary entries in the Books of Accounts of the Company were passed.

Nature and purpose of reserves:

Special General Reserve/Statutory Reserve

Statutory Reserve represents the reserve created pursuant to the Reserve Bank of India Act, 1934 (the "RBI Act") and related
regulations applicable to those companies. Under the RBI Act, a non-banking finance company is required to transfer an amount
not less than 20% of its net profit to a reserve fund before declaring any dividend. Appropriation from this reserve fund is permitted
only for the purposes specified by the RBI.

Securities Premium

Securities Premium Reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provision
of the Companies Act, 2013.

Other Comprehensive Income :

Other comprehensive income includes effective portion of cash flow hedges. Effective portion of cash flow hedges represents the
cumulative effective portion of gains or losses arising on changes in fair value of hedging instruments entered into for cash flow
hedges, which shall be reclassified to the statement of profit and loss only when the hedged transaction affects the statement of
profit and loss, or included as a basis adjustment to the non-financial hedged item, consistent with the Company accounting policies.

B) The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair
value, grouped into

Level 1 to Level 3, as described below:

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

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

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

i) The management assessed that fair value of cash and cash equivalents, trade receivables, trade payables, and other financial
assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments

ii) Financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.

iii) The fair values of the equity investment which are quoted, are derived from quoted market prices in active markets. The
Investments measured at fair value and falling under fair value hierarchy Level 3 are valued on the basis of valuation reports
provided by external valuers with the exception of certain investments, where cost has been considered as an appropriate
estimate of fair value because of a wide range of possible fair value measurements and cost represents the best estimate of fair
values within that range.

iv) The fair value of the financial instruments that are not traded in an active market is determined using valuation techniques. The
Company uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions
existing at the end of each reporting period.

v) There have been no transfers between Level I and Level II for the years ended March 31, 2025 and March 31, 2024.

vi) Reconciliation of Level III fair value measurement is as below:

C) Derivative Financial Instruments

The Company has not entered into any derivative financial contracts during the current and previous financial years.

D) Financial risk management

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

• Credit risk

• Market risk

Credit Risk:

Credit risk is the risk of financial loss to the company if a counter-party fails to meet its contractual obligations.

Trade receivables

Credit risk with respect to trade receivables is limited, since the trade receivables amount is immaterial.

Cash and cash equivalents

The company holds cash and cash equivalents of '48,514,221 at 31 March 2025 (31 March 2024: ' 1,82,912)

Market risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market rates
and prices (such as equity price, interest rates etc.) or in the price of market risk-sensitive instruments as a result of such adverse
changes in market rates and prices. The Company is exposed to market risk primarily related to the market value of its investments.

Interest rate risk:

Interest rate risk arises from effects of fluctuation in prevailing levels of market interest rates on the fair value of Bonds / Debentures.
Exposure to interest rate risk:

Since the Company does not have any financial assets or financial liabilities bearing floating interest rates, any change in interest
rates at the reporting date would not have any significant impact on the financial statements of the Company.

Currency risk:

Currently company does not have transaction in foreign currencies and hence the company is not exposed to currency risk.

Price risk:

The Company is exposed to equity price risk arising from investments held by the Company and classified in the balance sheet either
as fair value through OCI.

To manage its price risk arising from investment in equity securities, the Company diversifies its portfolio.

All of the Company's equity investments are listed on the BSE or the National Stock Exchange (NSE) in India.

Sensitivity analysis - Equity price risk

The table below summaries the impact of increases/decreases of the index on the Company's equity and profit for the period. The
analysis is based on the assumption that the equity/index had increased by 2% or decreased by 2% with all other variables held
constant, and that all the Company's equity instruments moved in line with the index.

Note:

i) Entity under common control are disclosed only with whom transaction has taken place during the year

28 Pursuant to the provisions of section 135(5) of the Companies Act, 2013 (the Act), As per the relevant provisions of the Act read with
Rule 2(1)(h) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company is required to spend at least 2% of
the average net profits (determined under section 198 of the Companies Act 2013 made during the immediately three financial
years. However, as per section 135 of Companies Act 2013, every company meeting certain criteria shall form the CSR committee and
undertake CSR activities. But company is out of purview of the criteria. Hence CSR provision is not applicable to the company.

Gross amount required to be spent by the Company during the year: ' NIL (Previous year - ' NIL).

29 Additional Statutory requirements

a. The Company has not carried out any revaluation of Property, Plant and Equipment in any of the period reported in this
Financial Statements hence reporting is not applicable.

b. There have been no proceedings initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

c. The Company has not taken any borrowing from any banks or financial institutions and hence in relation company is not
required to file any quarterly returns or statements.

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

e. There are no charges or satisfaction of charges yet to be registered with Registrar of Companies beyond the statutory period.

f. There are no undisclosed Income surrendered or disclosed as income during the period / year in the tax assessments under the
Income Tax Act, 1961

g. The Company have 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

h. The Company have 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,

i. The Company is not declared as willful defaulter by any bank or Financial Institution as on the balance sheet date.

j. During the year, the Company has not traded or invested in Crypto Currency or Virutal Currency.

k. During the year, the company has allotted 6,49,500 equity shares on a preferential basis in accordances with Chapter V of
the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 ("SEBI ICDR
Regulations"), as amended, and other applicable laws, at an issue price of ' 40/- per share.

After the close of the financial year but prior to the signing of the financial statements, the Company convened an Extra Ordinary
General Meeting (EGM) on May 9, 2025, through Video Conferencing (VC)/Other Audio Visual Means (OAVM), wherein the members
approved the following material matters:

Increase in Authorized Share Capital

Approval was granted to increase the authorized share capital of the Company from ?550.00 lakhs to ?700.00 lakhs, along with the
requisite amendment to Clause V of the Memorandum of Association.

Preferential Allotment of Equity Shares

Approval was obtained for the issuance and allotment of up to 8,85,000 equity shares at ?57 per share on a preferential basis to
Promoter Group allottees, subject to regulatory approvals.

Change of Company Name

The Company received member approval to change its name from Adinath Exim Resources Limited to Trustedge Capital Limited,
following name reservation granted by the Ministry of Corporate Affairs on March 27, 2025. The change will become effective upon
receipt of statutory approvals.

Adoption of Employee Stock Option Scheme

The shareholders approved the Trustedge Employee Stock Option Scheme 2025 (TEDGE ESOS 2025), in compliance with SEBI (Share
Based Employee Benefits and Sweat Equity) Regulations, 2021.

30 Figures of previous reporting periods have been regrouped/ reclassified wherever necessary to correspond with the figures of the
current reporting period.

As per our report of even date attached For, Adinath Exim Resources Limited

For Mahendra N. Shah & Co. Manoj S Savla Vidhi S Savla

Chartered Accountants Chairman & Managing Director Whole Time Director

Registration No. 105775W DIN: 01529306 DIN: 09107866

Chirag M. Shah Bharat J Suthar Deepak Kabra

Partner Chief Financial Officer Chief Executive Officer

Membership No.: 045706

Pinkal Mehta

Company Secretary
Membership No- A59075

Place: Ahmedabad Place: Ahmedabad

Date: May 26, 2025 Date: May 26, 2025