ಕಂಪನಿಯ ಅಕೌಂಟಿಗ್ ಪಾಲಿಸಿ Ganesh Infraworld Ltd.

Mar 31, 2026

Note 1 Corporate Information

Ganesh Infraworld Limited (CIN- L46620WB2024PLC268366) (formerly known as Ganesh Infraworld Private Ltd. and Ganesh International) is a public limited company domiciled and incorporated in India on February 13, 2024, under the Companies Act, 2013.

Ganesh Infraworld Limited ("the Company") was originally formed as a partnership firm under the Indian Partnership Act, 1932 ("Partnership Act"), pursuant to the Deed of Partnership dated May 15, 2017, by Rachita Agrawal and Vibhoar Agrawal, in the name and style of "M/s. Ganesh International". M/s. Ganesh International was thereafter converted from a Partnership Firm to a Private Limited company under Part I Chapter XXI of the Companies Act, 2013, with the name and style of "Ganesh Infraworld Private Limited" and received a Certificate of Incorporation from the Registrar of Companies, Central Registration Centre dated February 13, 2024. Subsequently, the Company was converted into a Public Limited Company and the name of the company was changed from "Ganesh Infraworld Private Limited" to "Ganesh Infraworld Limited" vide a fresh certificate of incorporation dated June 01, 2024.

The Company is listed on National Stock Exchange Emerge Platform. The registered office of the Company is located at Godrej Genesis, Unit No. 906, 9th Floor, Street No. 18, Block - EP & GP, Sector - V, Salt Lake, West Bengal, India, 700091. The Company is engaged in the business of providing engineering, procurement, and construction ("EPC") services in infrastructure projects such as the construction of plants & warehouses, industrial civil projects, mechanical projects, buildings & factories, road construction, residential buildings, the balance of plant and components for power projects and water treatment projects.

Note 2 Significant Accounting Policies

A. Basis For Accounting And Preparation Of Financial Statements

The financial statement of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards specified under Section 133 the Companies Act, 2013, read with Rule 7 of the Companies Accounting Rules, 2014 and the relevant provisions of the Companies Act ("the 2013 Act"), 2013. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

All assets and liabilities have been classified as current and non-current as per normal operating cycle of the Company and other criteria set out in the Schedule III of the Companies Act, 2013.

The financial statements are presented in Indian Rupees (INR) except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures.

B. Use Of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and disclosure of contingent liabilities at the date of financial statements and the results of operations during the reporting year end. Although these estimates are based upon the management''s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amount of assets and liabilities in future periods.

i) Revenue Recognition

The Company recognises revenue from contracts with customers when it satisfies a performance obligation by transferring promised good or service to a customer. The revenue is recognised to the extent of transaction price allocated to the performance obligation satisfied. Performance obligation is satisfied over time when the transfer of control of asset (good or service) to a customer is done overtime and in other cases, performance obligation is satisfied at a point in time. For performance obligation satisfied over time, the revenue recognition is done by measuring the progress towards complete satisfaction of performance obligation. The progress is measured in terms of a proportion of actual cost incurred to-date, to the total estimated cost attributable to the performance obligation. Transaction price

is the amount of consideration to which the Company expects to be entitled in exchange for transferring good or service to a customer excluding amounts collected on behalf of a third party.

Significant judgments are used in:

1. Determining the revenue to be recognised in case of performance obligation satisfied over a period of time; revenue recognition is done by measuring the progress towards complete satisfaction of performance obligation. The progress is measured in terms of a proportion of actual cost incurred to-date, to the total estimated cost attributable to the performance obligation.

2. Determining the expected losses, which are recognised in the period in which such losses become probable based on the expected total contract cost as at the reporting date. Services charges income has been recognized as and when the services are rendered to the customers and when there is a reasonable certainty of its ultimate realisation/collection.

ii) Property, Plant & Equipment

Property, Plant and Equipment are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use and initial estimate of decommissioning, restoring and similar liabilities, if any. Any trade discount and rebates are deducted in arriving at the purchase price. Such cost includes the cost of replacing part of the plant and equipment. When significant parts of plant and equipment are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred.

Gains or losses arising from de-recognition of Property, Plant and Equipment are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is de-recognised. The company identifies and determines cost of each component/ part of the asset separately, if the component/ part has a cost which is significant to the total cost of the asset and has useful life that is materially different from that of the remaining asset.

iii) Intangible Assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible

assets are carried at cost less accumulated amortization and impairment losses, if any. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the asset is derecognized.

iv) Depreciation on Property, Plant and Equipment and Amortization on intangible assets

D e p r e c i a t i o n o n P r o p e r t y, P l a n t a n d Equipment is provided to the extent of depreciable amount on the written down value method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act 2013,which is given below:

Particulars	Useful Life
Plant & Machinery	15 -20 years
Vehicles	8 years
Office Equipments	5 years
Computer	3 years
Furniture & Fixtures	10 years
Land & Building	30 years

The Intangible assets are amortized using straight line method over their estimated useful lives of 5 Years. The estimated useful life is reviewed annually by the management.

Depreciation is not recorded on capital work-in progress until construction and installation is completed and the asset is for intended use.

v) Inventories

Materials, components and stores & spares to be used in contracts are valued at lower of cost, or net realizable value. Cost is determined on weighted average basis. Net Realizable Value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated cost necessary to make the sale. Unbilled Revenue (WIP) is valued at net realizable value.

NRV is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale.

vi) Investments

Investments that are readily realizable and are intended to be held for not more than one year from the balance sheet date are classified as current investments and are stated at lower of cost and fair market value. All other investments are classified as long term investments.

vii) Taxes on Income

The accounting treatment for the Income Tax in respect of the Company''s income is based on the Accounting Standard on Accounting for Taxes on Income (AS-22). The provision made for Income Tax in Accounts comprises both, the current tax and deferred tax. Provision for Current Tax is made on the assessable Income Tax rate applicable to the relevant assessment year after considering various deductions available under the Income Tax Act, 1961.

Deferred tax is recognized for all timing differences; being the differences between the taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Such deferred tax is quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date. The carrying amount of deferred tax asset/liability is reviewed at each Balance Sheet date and consequential adjustments are carried out. Deferred tax assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised.

viii) Retirement and other employees benefits

a) Retirement benefit in the form of provident fund is a defined contribution scheme. The company has no obligation, other than the contribution payable to the provident fund. The company recognizes contribution payable to the provident fund scheme as an expenditure, when an employee renders the related service. If the contribution payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received before the balance sheet date, then excess is recognized as an asset to the extent that the pre-payment will lead to a reduction in future payment or a cash refund.

b) Gratuity liability being a defined benefit obligation is provided for on the basis of actuarial valuation on projected unit credit method at the end of each financial year. Actuarial gains / losses are recognized in full in the period in which they occur in the Statement of Profit and Loss and as on the date no employee is eligible for gratuity.

c) Short term compensated absences are provided for based on estimates. Accumulated leave, which is expected to be utilized within the next 12 months, is treated as short-term employee benefit. The company measures the expected cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has accumulated at the reporting date.

ix) Cash and Cash Equivalents

Cash and cash equivalents in the cash flow statement comprise of cash at bank and Cash / Cheque on hand and short-term investments made in fixed deposits of three months or less.

x) Investment in Subsidiaries

Investments in subsidiaries, joint ventures and associates are accounted for at cost less provision for diminution, other than temporary, if any, in accordance with Accounting Standard (AS) 13 - Accounting for Investments.

xi) 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.

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 are adjusted for the effects of all dilutive potential equity shares.

xii) Borrowing costs

Borrowing cost includes interest and amortization of ancillary costs incurred in connection with the arrangement of borrowings.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur.

xiii) Provisions

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on best estimate required to settle the obligation, at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

xiv) Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize contingent liability.

xv) Segment Reporting

The Company is engaged mainly in only one business segment i.e. construction of "Engineering, Procurement, and Construction" (EPC) contracts. However, there are no reportable segment other than EPC construction contracts, as none of them meet the quantitative threshold criteria as prescribed. The Group is primarily operating in India which is considered as single geographical segment.

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Mar 31, 2025

NOTE 2 SIGNIFICANT ACCOUNTING
POLICIES

A. BASIS FOR ACCOUNTING AND
PREPARATION OF FINANCIAL
STATEMENTS

The financial statement of the company have
been prepared in accordance with the Generally
Accepted Accounting Principles in India (Indian
GAAP) to comply with the Accounting Standards
specified under Section 133 the Companies
Act, 2013, read with Rule 7 of the Companies
Accounting Rules, 2014 and the relevant
provisions of the Companies Act (""the 2013
Act""), 2013. The financial statements have been

prepared on accrual basis under the historical
cost convention. The accounting policies
adopted in the preparation of the financial
statements are consistent with those followed in
the previous year.

All assets and liabilities have been classified as
current and non-current as per normal operating
cycle of the Company and other criteria set out in
the Schedule III of the Companies Act, 2013.

The financial statements are presented in
Indian Rupees (INR) except share and per share
data, unless otherwise stated. Due to rounding
off, the numbers presented throughout the
document may not add up precisely to the totals
and percentages may not precisely reflect the
absolute figures.

B. USE OF ESTIMATES

The preparation of financial statements in
conformity with generally accepted accounting
principles requires management to make
judgments, estimates and assumptions that
affect the reported amounts of revenues,
expenses, assets and liabilities and disclosure
of contingent liabilities at the date of financial
statements and the results of operations
during the reporting year end. Although these
estimates are based upon the management''s
best knowledge of current events and actions,
uncertainty about these assumptions and
estimates could result in the outcomes requiring
a material adjustment to the carrying amount of
assets and liabilities in future periods.

i) Revenue Recognition

The Company recognises revenue
from contracts with customers when
it satisfies a performance obligation by
transferring promised good or service to
a customer. The revenue is recognised to
the extent of transaction price allocated
to the performance obligation satisfied.
Performance obligation is satisfied over
time when the transfer of control of asset
(good or service) to a customer is done
over time and in other cases, performance
obligation is satisfied at a point in time.
For performance obligation satisfied over
time, the revenue recognition is done by
measuring the progress towards complete
satisfaction of performance obligation.
The progress is measured in terms of a
proportion of actual cost incurred to-date, to
the total estimated cost attributable to the
performance obligation. Transaction price
is the amount of consideration to which the
Company expects to be entitled in exchange

for transferring good or service to a customer
excluding amounts collected on behalf of a
third party.

Significantjudgments are used in:

1. Determining the revenue to be recognised
in case of performance obligation satisfied
over a period of time; revenue recognition
is done by measuring the progress towards
complete satisfaction of performance
obligation. The progress is measured in terms
of a proportion of actual cost incurred to-
date, to the total estimated cost attributable
to the performance obligation.

2. Determining the expected losses, which are
recognised in the period in which such losses
become probable based on the expected
total contract cost as at the reporting date.

Services charges income has been
recognized as and when the services are
rendered to the customers and when there
is a reasonable certainty of its ultimate
realisation/collection.

ii) PROPERTY, PLANT & EQUIPMENT

Property, Plant and Equipment are stated
at cost less accumulated depreciation and
impairment losses, if any. Cost comprises
the purchase price and any attributable
cost of bringing the asset to its working
condition for its intended use and initial
estimate of decommissioning, restoring and
similar liabilities, if any. Any trade discount
and rebates are deducted in arriving at the
purchase price.

Such cost includes the cost of replacing
part of the plant and equipment. When
significant parts of plant and equipment
are required to be replaced at intervals,
the Company depreciates them separately
based on their specific useful lives. Likewise,
when a major inspection is performed, its
cost is recognised in the carrying amount of
the plant and equipment as a replacement if
the recognition criteria are satisfied. All other
repair and maintenance costs are recognised
in profit or loss as incurred.

Gains or losses arising from de-recognition
of Property, Plant and Equipment are
measured as the difference between the
net disposal proceeds and the carrying
amount of the asset and are recognized in
the Statement of Profit and Loss when the
asset is de-recognised.

The company identifies and determines
cost of each component/ part of the asset
separately, if the component/ part has a cost
which is significant to the total cost of the
asset and has useful life that is materially
different from that of the remaining asset.

iii) Intangible Assets

Intangible assets acquired separately are
measured on initial recognition at cost.
Following initial recognition, intangible
assets are carried at cost less accumulated
amortization and impairment losses, if any.

Gains or losses arising from derecognition
of an intangible asset are measured as the
difference between the net disposal proceeds
and the carrying amount of the asset and
are recognized in the statement of profit and
loss when the asset is derecognized.

iv) Depreciation on Property, Plant and
Equipment and Amortization on
intangible assets

Depreciation on Property, Plant and
Equipment is provided to the extent of
depreciable amount on the written down
value method. Depreciation is provided
based on useful life of the assets as
prescribed in Schedule II to the Companies
Act 2013,which is given below:

The Intangible assets are amortized using
straight line method over their estimated
useful lives of 5 Years. The estimated useful
life is reviewed annually by the management.

Depreciation is not recorded on capital
work-in progress until construction and
installation is completed and the asset is for
intended use.

v) Inventories

Materials, components and stores & spares
to be used in contracts are valued at lower
of cost, or net realizable value. Cost is
determined on weighted average basis. Net
Realizable Value is the estimated selling
price in the ordinary course of business,
less estimated costs of completion and
estimated cost necessary to make the sale.

Unbilled Revenue (WIP) is valued at net
realizable value.

NRV is the estimated selling price in the
ordinary course of business, less estimated
costs of completion and estimated costs
necessary to make the sale.

vi) Investments

Investments that are readily realizable and
are intended to be held for not more than
one year from the balance sheet date are
classified as current investments and are
stated at lower of cost and fair market value.
All other investments are classified as long
term investments.

vii) Taxes on Income

The accounting treatment for the Income
Tax in respect of the Company''s income
is based on the Accounting Standard on
Accounting for Taxes on Income (AS-22). The
provision made for Income Tax in Accounts
comprises both, the current tax and deferred
tax. Provision for Current Tax is made on the
assessable Income Tax rate applicable to the
relevant assessment year after considering
various deductions available under the
Income Tax Act, 1961.

Deferred tax is recognized for all timing
differences; being the differences between
the taxable income and accounting income
that originate in one period and are capable
of reversal in one or more subsequent
periods. Such deferred tax is quantified
using the tax rates and laws enacted or
substantively enacted as on the Balance
Sheet date. The carrying amount of deferred
tax asset/liability is reviewed at each Balance
Sheet date and consequential adjustments
are carried out. Deferred tax assets are only
recognised to the extent that it is probable
that future taxable profits will be available
against which the temporary differences can
be utilised.

viii) Retirement and other employees
benefits

a) Retirement benefit in the form of
provident fund is a defined contribution
scheme. The company has no obligation,
other than the contribution payable
to the provident fund. The company
recognizes contribution payable to
the provident fund scheme as an
expenditure, when an employee renders
the related service. If the contribution
payable to the scheme for service

received before the balance sheet date
exceeds the contribution already paid,
the deficit payable to the scheme is
recognized as a liability after deducting
the contribution already paid. If the
contribution already paid exceeds the
contribution due for services received
before the balance sheet date, then
excess is recognized as an asset to the
extent that the pre-payment will lead
to a reduction in future payment or a
cash refund.

b) Gratuity liability being a defined benefit
obligation is provided for on the basis
of actuarial valuation on projected
unit credit method at the end of each
financial year. Actuarial gains / losses are
recognized in full in the period in which
they occur in the Statement of Profit and
Loss and as on the date no employee is
eligible for gratuity.

c) Short term compensated absences
are provided for based on estimates.
Accumulated leave, which is expected to
be utilized within the next 12 months, is
treated as short-term employee benefit.
The company measures the expected
cost of such absences as the additional
amount that it expects to pay as a result
of the unused entitlement that has
accumulated at the reporting date.

ix) Cash and Cash Equivalents

Cash and cash equivalents in the cash flow
statement comprise of cash at bank and
Cash / Cheque on hand and short-term
investments made in fixed deposits of three
months or less.

x) 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.

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 are adjusted
for the effects of all dilutive potential
equity shares.

xi) Borrowing costs

Borrowing cost includes interest and
amortization of ancillary costs incurred

in connection with the arrangement
of borrowings.

Borrowing costs directly attributable to the
acquisition, construction or production of
an asset that necessarily takes a substantial
period of time to get ready for its intended
use or sale are capitalized as part of the cost
of the respective asset. All other borrowing
costs are expensed in the period they occur.