viii. Provision for Current and Deferred Tax

a) Current Tax

The tax currently payable is based on taxable profit for the year. Taxable
profits differ from the profit as reported in the statement of profit and
loss because of items of income or expense that are taxable or
deductible in other years and items that are never taxable or deductible.
The Company’s current tax is calculated using tax rates that have been
enacted or substantially enacted by the end of the reporting period. In
the event of tax computed as stated is less than the tax computed under
section 115JB of the Income tax Act., 1961, provision for current tax
will be made in accordance with such provisions.

b) Deferred Tax

Deferred tax is recognised on temporary differences between the
carrying amount of assets and liabilities in the financial statements and
the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable temporary
differences. Deferred tax assets are generally recognised for all
deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible
temporary differences can be utilised.

The carrying amount of deferred tax asset is reviewed at the end of each
reporting period 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
asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are
expected to apply in the period in which the liability is settled or the
asset realised, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax
consequences that would follow from the manner in which the Company
expects, at the end of the reporting period to recover or settle the
carrying amount of its assets and liabilities.

c) Current and deferred Tax for the year

Current and deferred tax are recognised in profit and loss, except when
they relate to items that are recognised in other comprehensive income
or directly in equity, in which case, the current and deferred tax are also
recognised in other comprehensive income or directly in equity
respectively.

Deferred tax resulting from “timing difference” between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on the balance sheet date.
Deferred tax asset is recognised and carried forward only to the extent
there is reasonably certain that there will be sufficient future income to
recover such Deferred Tax Asset.

ix. Minimum Alternate Tax Credit

Minimum Alternate Tax Credit Entitlement is recognized in the books of
account when there is convincing evidence that the Company will pay
normal income tax during the specified period. The entitlement is reviewed
at each balance sheet date with regard to the correctness of the carrying
amount

x. Research and Development

Research and Development Costs that are in the nature of tangible assets
and are expected to generate probable future economic benefits are
capitalised as tangible assets. Revenue expenditure on research and
development is charged to the Statement of Profit and Loss in the year in
which it is incurred.

xi. Claims

Claims by and against the Company, including liquidated damages, are
recognised on acceptance basis.

xii. Leases

The Company as a lessee:

The Company’s lease asset classes consist of leases for buildings. 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.

At the date of commencement of the lease, the Company recognizes a right-
of-use (ROU) asset and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases with a term of twelve
months or less (short-term leases) and low value leases. 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.

As a lessee, the Company determines the lease term as the non-cancellable
period of a lease adjusted with any option to extend or terminate the lease,
if the use of such option is reasonably certain. The Company makes an
assessment on the expected lease term on a lease-by-lease basis and
thereby assesses whether it is reasonably certain that any options to extend
or terminate the contract will be exercised. In evaluating the lease term, the
Company considers factors such as any significant leasehold improvements
undertaken over the lease term, costs relating to the termination of the
lease and the importance of the underlying asset to Sacheta’s operations
taking into account the location of the underlying asset and the availability
of suitable alternatives. The lease term in future periods is reassessed to
ensure that the lease term reflects the current economic circumstances.

Certain lease arrangements includes the options to extend or terminate the
lease before the end of the lease term. ROU assets and lease liabilities
includes these options when it is reasonably certain that they will be
exercised.

xiii. Financial Instruments

a) Initial Recognition

The Company recognizes financial assets and financial liabilities when it
becomes a party to the contractual provisions of the instrument. All
financial assets and liabilities are recognized at fair value on initial
recognition, except for trade receivables which are initially measured at
transaction price. Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial liabilities, which are
not at fair value through profit or loss, are added to the fair value on

initial recognition. Regular way purchase and sale of financial assets are
accounted for at trade date.

b) Subsequent measurement

1. Non-derivative financial instruments

- Financial assets carried at amortized cost

A financial asset is subsequently measured at amortized cost if it
is held within a business model whose objective is to hold the
asset in order to collect contractual cash flows and the
contractual terms of the financial asset give rise on specified dates
to cash flows that are solely payments of principal and interest on
the principal amount outstanding.

- Financial assets at fair value through other comprehensive
income (FVOCI)

A financial asset is subsequently measured at fair value through
other comprehensive income if it is held within a business model
whose objective is achieved by both collecting contractual cash
flows and selling financial assets and the contractual terms of the
financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount
outstanding. The Company has made an irrevocable election for
its investments which are classified as equity instruments to
present the subsequent changes in fair value in other
comprehensive income based on its business model.

- Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above
categories are subsequently fair valued through profit or loss.

- Financial Liabilities

Financial liabilities are subsequently carried at amortized cost
using the effective interest method, except for contingent
consideration recognized in a business combination which is
subsequently measured at fair value through profit or loss. For
trade and other payables maturing within one year from the
Balance Sheet date, the carrying amounts approximate fair value
due to the short maturity of these instruments.

c) Derecognition of financial instruments

The Company derecognizes a financial asset when the contractual rights
to the cash flows from the financial asset expire or it transfers the
financial asset and the transfer qualifies for derecognition under Ind AS
109. A financial liability (or a part of a financial liability) is derecognized
from the Company’s Balance Sheet when the obligation specified in the
contract is discharged or cancelled or expires.

d) Fair value of financial instruments

In determining the fair value of its financial instruments, the Company
uses a variety of methods and assumptions that are based on market
conditions and risks existing at each reporting date. The methods used
to determine fair value include discounted cash flow analysis, available
quoted market prices and dealer quotes. All methods of assessing fair
value result in general approximation of value, and such value may
never actually be realized.

e) Impairment

1. Financial Assets

Company applies expected credit loss (ECL) model for
measurement and recognition of impairment loss on the following
financial assets and credit risk exposure:

- Financial assets that are debt instruments and are measured at
amortized cost whether applicable for e.g. loans debt securities,
deposits, and bank balances.

- Trade Receivables

Company follows ‘simplified approach’ for recognition of
impairment loss allowance on trade receivables which do not
contain a significant financing component. The application of
simplified approach does not require the Company to track
changes in credit risk. Rather, it recognises impairment loss
allowance based on lifetime ECLs at each reporting date, right
from its initial recognition.

2. Non - financial assets

Company assesses at each reporting date whether there is any
objective evidence that a non-financial asset or a group of non¬
financial assets is impaired. If any such indication exists, the
Company estimates the amount of impairment loss.

Equity instruments: The Company measures its equity investment
other than in subsidiaries, joint ventures and associates at fair
value through profit and loss. However where the Company's
management makes an irrevocable choice on initial recognition to
present fair value gains and losses on specific equity investments
in other comprehensive income (Currently no such choice made),
there is no subsequent reclassification, on sale or otherwise, of fair
value gains and losses to the Statement of Profit and Loss.

xiv. Provisions

A provision is recognized if, as a result of a past event, the Company has
a present legal or constructive obligation that is reasonably estimable,
and it is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are determined by discounting the
expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the
liability.

xv. Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss
attributable to equity holders of parent company by the weighted average
number of equity shares outstanding during the period.

Diluted earnings per share are computed by dividing the profit after tax
as adjusted for dividend, interest and other charges to expense or income
(net of any attributable taxes) relating to the dilutive potential equity
shares, by the weighted average number of equity shares considered for
deriving basic earnings per share and the weighted average number of
equity shares which could have been issued on conversion of all dilutive
potential equity shares.

xvi. Dividend

The Company recognises a liability to pay dividend to equity holders of
the parent when the distribution is authorised, and the distribution is no
longer at the discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved by the
shareholders. A corresponding amount is recognised directly in equity.

xvii. Application of New Accounting Pronouncements

The Ministry of Corporate Affairs (MCA) notified the Ind AS 117, Insurance
Contracts, vide notification dated 12 August 2024, under the Companies
(Indian Accounting Standards) Amendment Rules, 2024, which is effective
from annual reporting periods beginning on or after 1 April 2024.

i. Ind AS 117 Insurance Contracts is a comprehensive new accounting
standard for insurance contracts covering recognition and measurement,
presentation and disclosure. Ind AS 117 replaces Ind AS 104 Insurance
Contracts. Ind AS 117 applies to all types of insurance contracts, regardless of
the type of entities that issue them as well as to certain guarantees and
financial instruments with discretionary participation features; a few scope

exceptions will apply. Ind AS 117 is based on a general model, supplemented
by :

A specific adaptation for contracts with direct participation features (the
variable fee approach)

A simplified approach (the premium allocation approach) mainly for
short-duration contracts

The application of Ind AS 117 does not have material impact on the Company’s
separate financial statements as the Company has not entered any contracts in
the nature of insurance contracts covered under Ind AS 117.

ii. Amendments to Ind AS 116 Leases - Lease Liability in a Sale and Leaseback
The MCA notified the Companies (Indian Accounting Standards) Second
Amendment Rules, 2024, which amend Ind AS 116, Leases, with respect to
Lease Liability in a Sale and Leaseback.

The amendment specifies the requirements that a seller-lessee uses in
measuring the lease liability arising in a sale and leaseback transaction, to
ensure the seller-lessee does not recognise any amount of the gain or loss that
relates to the right-of-use it retains.

The amendment is effective for annual reporting periods beginning on or after
April, 1 2024 and must be applied retrospectively to sale and leaseback
transactions entered into after the date of initial application of Ind AS 116.

The amendments do not have a material impact on the Company’s financial
statements.

Note -28:- Point (h) (I) of independent Auditors’ Report

In the ordinary course of business, the Company faces claims and assertions by
various parties. The Company assesses such claims and assertions and
monitors the legal environment on an on-going basis with the assistance of
external legal counsel, wherever necessary.

The Company records a liability for any claims where a potential loss is
probable and capable of being estimated and discloses such matters in its
financial statements, if material. For potential losses that are considered
possible, but not probable, the Company provides disclosure in the financial
statements but does not record a liability in its accounts unless the loss
becomes probable.

The following is a description of claims and assertions where a potential loss is
possible, but not probable. The Company believes that none of the
contingencies described below would have a material adverse effect on the
Company’s financial condition, results of operations or cash flows.

It is not practicable for the Company to estimate the timings of the cash
outflows, if any, pending resolution of the respective proceedings.

Litigations

1. The Company was trading with the Metropolitan Stock Exchange of India
Limited (Formerly known as Multi Commodity Exchange of India Limited) since
2012 through Sacheta Commodity and Finance wherein Mr. Satishkumar K.
Shah a director of the Company was a proprietor of the said firm and the
company has traded various number of transactions of commodity hedging in
regular course of business. For one of the transaction for which petition is filed
was purchase of aluminium contract in lots containing 5000kg per lots. The
concern had an open position of total 306 lots and 243 lots of said aluminium
contracts of September and October 2013 respectively. On August 28, 2013
when the market was allegedly volatile, the Metropolitan Stock Exchange of
India Limited (Formerly known as Multi Commodity Exchange of India Limited)
got panic and has squared off the open positions at maximum higher rate, in
clear contravention of the obligations and contracts. Because of the
contravention the concern causing aggregate loss of Rs. 6,54,01,200/-.

Mr. Satishkumar K Shah, Proprietor of Sacheta Commodity and Finance
through which the company has undertaken the transactions of commodity
hedging in regular course of business has preferred an appeal against the
Metropolitan Stock Exchange of India Limited (Formerly known as Multi
Commodity Exchange of India Limited) on 13th July, 2016 in High Court of
Bombay for recovery of principal sum of Rs. 6,54,01,200/- along with interest
at the rate of 16% p.a. towards loss and/or damages suffered due to malafide
action. The petition is pending before the Hon’ble High Court of Bombay as at
end of the financial year.

It may probable that approximately Rs. 4.12 crore rupees loss from Rs. 6.54
crore to be borne by the company.

2. The company has disclosed a contingent liability of Rs. 17,15,961/-as at
31/03/2024 relating to VAT dues under appeal.

During the year ended on 31/03/2025, the said matter has been partly allowed
in favour of company, so the amount of Rs. 14,17,231/- has been charged to
the statement of Profit and Loss Account and for remaining amount the
company has applied for refund of Rs. 2,98,730/-. Accordingly, the said matter
is no longer disclosed as a contingent liability.

The company has disclosed a contingent liability of Rs.1,72,52,604/- as at
31/03/2024 relating to Income Tax dues under appeal for two assessment
orders for same financial year (F.Y. 2013-14 i.e A.Y. 2014-15). Out of two
appeals, during the year one appeal for a demand of Rs. 63,01,192/- has been
decided in favour of the company and accordingly the company has applied for
a refund of Rs. 63,01,192/- which is paid as pre deposit for said appeal. And
still there is one appeal pending for a demand of Rs. 1,09,51,412/- and Against
this demand the company has deposited income tax of Rs.18,06,216/- under
protest.

Defined Benefit Plan

The Company provides for gratuity, a defined benefit retirement plan ("the Gratuity
Plan”) covering eligible Indian employees of Sacheta Metals Ltd. 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 and the tenure of employment with the Company. The Company
operates gratuity plan wherein every employee is entitled to the benefit equivalent to
15 days/one month salary last drawn for each completed year of service depending on
the date of joining. The benefit vests after 5 years of continuous service. As there are
frequent changes in workers/employees, the company record retirement benefits on
cash basis.

Note - 31: Disclosure as per Ind AS - 33 Earning per Share:

During the year, the Company sub-divided its equity shares of ?10 each into equity
shares of each, resulting in the number of shares increasing from 2,50,00,000 to
12,50,00,000. In accordance with Ind AS 33, the Basic and Diluted EPS for all periods
presented have been adjusted retrospectively as if the split had occurred at the
beginning of the earliest period presented.

Note- 32 :Disclosure as per Ind AS-108 Operating Segments:

The Company is operating in single segment i.e.Alluminium products. The company
has changed its object by addition of Real Estate Business activities in the main object
in the EGM held on 16th May, 2024. However, there is no revenue from operation
during the year ended March, 2025 from this sources. So segment reporting is not
applicable to company. However the Company has identified geographical segments
based on location of customers as reportable segments in accordance with Ind AS 108.

d. Financial risk management

The Company's principal financial liabilities, other than derivatives,
comprise borrowings, lease liabilities, trade and other payables. The main
purpose of these financial liabilities is to finance company's operations. The
Company's Principal financial assets include trade and other receivable, and
cash and cash equivalents that derive directly from its operations. The
company also holds investments.

The company is exposed to
-Market Risk
-Credit Risk and
-Liquidity Risk

Company's senior management oversees the management of these risks. It is
company's policy that no trading in derivatives for speculative purpose may be
undertaken. The Board of Directors review and agree policies for managing each
of these risks, which are summarized below.

a) Market Risk

Market Risk is the risk of any loss in future earnings, in realisable fair value or
in future cash flows that may a change in the price of a financial instrument.

The value of Financial Instrument may change as a result of change in Interest
Rates, Foreign Currency Exchange Rates, Liquidity and other market changes.
Future specific market movements cannot be normally predicted with reasonable
accuracy.

i. Interest Rate Risk:-

The company is exposed to interest rate risk because it borrows funds at both
fixed and floating interest rates.

The sensitivity analyses below have been determined based on the exposure to
interest rates for borrowings at the end of the reporting period. For floating rate
borrowings the analysis is prepared assuming the amount of the liability
outstanding at the end of the reporting period was outstanding for the whole year
and the rates are reset as per the applicable reset dates. The basis risk between
various benchmarks used to reset the floating rate borrowings has been
considered to be insignificant.

ii. Foreign Currency Risk

Foreign Currency Risk is the risk that the fair value or future cash flows of an
exposure will fluctuate because of changes in foreign exchange rates. However
the Company is not exposed to foreign currency risk since it has no unhedged
exposure as at reporting date.

(b)Liquidity Risk

Liquidity risk is the risk that the company will face in meeting its obligation
associated with its financial liabilities. The Company’s approach in managing
liquidity is to ensure that it will have sufficient funds to meet its liabilities when

due without incurring unacceptable losses. In doing this management considers
both normal and stressed conditions.

Due to dynamic nature of the underlying businesses, company maintains
flexibility in funding by maintaining availability of under committed credit lines.
Management monitors rolling forecasts of the company’s liquidity position
(comprising the undrawn borrowing facilities) and cash and cash equivalents on
the basis of expected cash flows.

The following table shows the maturity analysis of the company’s financial
liabilities based on the contractually agreed undiscounted cash flows along with
its carrying value as at the Balance sheet date.

(c) Credit Risk

Credit risk arises from the possibility that the counter party may not be able to
settle their obligations as agreed. To manage this, the Company periodically
assesses financial reliability of customers, taking into account the financial
condition, current economic trends, and analysis of historical bad debts and
ageing of accounts receivable. Individual risk limits are set accordingly.

The company considers the probability of default upon initial recognition of asset
and whether there has been a significant increase in credit risk on an ongoing
basis through out each reporting period. To assess whether there is a significant
increase in credit risk, the company compares the risk of default occurring on
asset as at the reporting date with the risk of default as at the date of initial
recognition. It considers reasonable and supportive forwarding-looking
information such as:

Actual or expected significant adverse changes in business, Actual or expected
significant changes in the operating results of the counterparty, Financial or
economic conditions that are expected to cause a significant change to the
counterparty’s ability to meet its obligations, Significant increase in credit risk on
other financial instruments of the same counterparty, Significant changes in the
value of the collateral supporting the obligation or in the quality of the third-party
guarantees or credit enhancements.

The Company measures the expected credit loss of trade receivables and loan
from individual customers based on historical trend, industry practices and the
business environment in which the entity operates. Loss rates are based on
actual credit loss experience and past trends. Based on the historical data, loss
on collection of receivable is not material hence no additional provision
considered.

Note -38 :Title Deeds of Immovable Property

The title deeds of all the immovable properties, as disclosed in note 4 to the financial
statements, are held in the name of the company.

Note -39 :Valuation of Property, Plant & Equipment, Intangible Asset

The Company has not revalued its property, plant and equipment or intangible assets
or both during the current or previous year.

Note -40 :Loans or Advances to Specified Person

No loans or advances in the nature of loans are granted to promoters, directors, KMPS
and the related parties (as defined under Companies Act, 2013,) either severally or
jointly with any other person, that are repayable on demand or without specifying any
terms or period of repayment.

Note -41 : Details of benami property held

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

Note -42: Borrowing secured against current assets

The Company has borrowings from banks on the basis of security of current assets.
The quarterly returns or statements of current assets filed by the Company with
banks are in agreement with the books of accounts.

Note -43: Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial
institution or other lender.

Note 44-: Relationship with struck off companies

The Company has no transactions with the companies struck off under Section 248 of
the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

Note 45-: Registration of charges or satisfaction with Registrar of Companies
(ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies
(ROC) beyond the statutory period

Note 46-: Compliance with number of layers of companies

The Company has no any subsidiary or holding company so reporting under this
clause is not applicable to company.

Note 47-: Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an
accounting impact on current or previous financial year.

Note 48-: Utilisation of borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds) by the Company to or in any
other person or entity, including foreign entities (“Intermediaries”) with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall
lend or invest in party identified by or on behalf of the Company (Ultimate
Beneficiaries).

The Company has not received any fund from any party(Funding Party) with the
understanding that the Company shall whether, directly or indirectly lend or invest in
other persons or entities identified by or on behalf of the Company (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

Note 49-: Undisclosed income

There is no income surrendered or disclosed as income during the current or previous
year in the tax assessments under the Income Tax Act, 1961, that has not been
recorded previously in the books of account.

Note 50-: Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during
the current or previous year

Note -51 :Previous year figures have been regrouped / re arranged / reclassified
wherever considered necessary to conform to the classifications / disclosures of
the current year

Notes Forming Part of Financial Statements

The accompanying Notes are an integral part of Financial Statements.

As per our report of even date attached.

For Kiran & Pradip Associates For And on behalf of the Board

Chartered Accountants

[ Firm Reg. No. 112577W ] ^{SD/- SD/-}

Satish K Shah Chetnaben Shah

^SD/- (Managing Director) (Jt. Managing Director)

Pradip Shah

[ _Partner ] DIN : 00237283 DIN : 00237410

M.No. ⁰³⁵⁶³⁶ SD/- SD/-

Place : Ahmedabad

Dated : 12/05/2025 Vibha Banger Dashrathbhai Patel

UDIN: 25035636BMOEGN9183 Company Secretary CFO