Gretex Corporate Services Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2026

2.05 Provisions, Contingent Liabilities and Contingent Assets:

Provisions

Provisions are recognised when, as a result of past event, the company has legal or constructive obligation, it
is probable that an outflow of resources will be required to settle the obligation, and the amount can be
reliably estimated. The amount so recognised is a best estimate of the consideration required to settle the
obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation.

Contingent Liability

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
a contingent liability but discloses its existence in the financial statements.

Contingent Asset

Contingent assets are neither recognized nor disclosed except when realisation of income is virtually certain,
related asset is disclosed.

2.06 Commitments

Commitments are future liabilities for contractual expenditure, classified and disclosed as follows:
i. estimated amount of contracts remaining to be executed on capital account and not provided for;

2.07 Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company

and the revenue can be reliably measured and there exists reasonable certainty of its recovery.

Ind AS 115, Revenue from contracts with customers, outlines a single comprehensive model of accounting
for revenue arising from contracts with customers. The Company recognises revenue from contracts with
customers based on a five-step model as set out in Ind AS 115:

Step 1: Identify contract(s) with a customer: A contract is defined as an agreement between two or more
parties that creates enforceable rights and obligations and sets out the criteria for every contract that must be
met

Step 2: Identify performance obligations in the contract: A performance obligation is a promise in a contract
with a customer to transfer a goods or services to the customer.

Step 3: Determine the transaction price: The transaction price is the amount of consideration to which the
Company expects to be entitled in exchange for transferring promised goods or services to a customer,

Step 4: Allocate the transaction price to the performance obligations in the contract: For a contract that has
more than one performance obligation, the Company allocates the transaction price to each performance
obligation in an amount that depicts the amount of consideration to which the Company expects to be
entitled in exchange for satisfying each performance obligation.

Step 5: Recognise revenue when (or as) the Company satisfies a performance obligation.

Revenue from Investment Sanking business, which mainly includes the lead manager’s fees, selling
commission, underwriting commission, fees for mergers, acquisitions & advisory assignments and arrangers’
fees for mobilising funds is recognised based on the milestone achieved as set forth under the terms of
agreement.

2.0S Employee Benefits

Short - term employee benefits are expensed in the period in which employee enders the related service on
an undiscounted basis. A liability is recognised for the amount expected to be paid within twelve months, if
the company has a present legal and constructive obligation to pay the same as a result of past services
provided by the employee and the obligation can be reliably measured.

Provident funds are deposited with the government administered funds and recognised as expense.

The Company''s gratuity obligation is a defined benefit plan valued by an independent actuary using the
Projected Unit Credit Method. Service cost and net interest are recognised in the Statement of Profit and
Loss, while remeasurement gains and losses are recognised in Other Comprehensive Income. Gratuity is
paid to eligible employees in accordance with applicable laws.

2.09 Taxes on Income

Taxes on income comprise current taxes and deferred taxes. Current tax in the Statement of Profit and Loss

is provided as the amount of tax payable in respect of taxable income for the period using tax rates and tax

laws enacted during the period, together with any adjustment to tax payable in respect of previous years.
Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes (tax base), at the tax rates and tax laws enacted or
substantively enacted by the end of the reporting period.

Deferred tax assets are recognised for the future tax consequences to the extent it is probable that future
taxable profits will be available against which the deductible temporary differences can be utilised.

Income tax, insofar as it relates to items disclosed under other comprehensive income or equity, is disclosed
separately under other comprehensive income or equity, as applicable.

Deferred tax assets and liabilities are offset when there is legally enforceable right to offset current tax assets
and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets
and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to
settle on net basis, or to realize the asset and settle the liability simultaneously.

2.1 Goods and Services Input Tax Credit

Goods and Services tax input credit is accounted for in the books in the period in which the supply of goods
or service received is accounted and when there is no uncertainty in availing/utilising the credits.

2.11 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing
activities. Cash flow from operating activities is reported using indirect method adjusting the net profit for the
effects of: (i) changes during the period in inventories and operating receivables and payables transactions
of a non-cash nature; (ii) non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign
currency gains and losses, and undistributed profits of associates and joint ventures; and (iii)all other items
for which the cash effects are investing or financing cash flows. Cash and cash equivalents (including bank
balances) shown in the Statement of Cash Flows exclude items which are not available for general use as on
the date of Balance Sheet.

2.12 Cash and Cash Equivalents

Cash and cash equivalent in the Balance Sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes
in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and
short term deposits as defined above, net of outstanding bank overdrafts.

2.13 Earnings Per Share
Basic Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss (before Other Comprehensive Income)
for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted average
number of equity shares outstanding during the year.

Diluted Earnings Per Share

For the purpose of calculating diluted earnings per share, the net profit or loss (before Other Comprehensive
Income) 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.

2.14 I

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

2.15 Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end
of the reporting period, the impact of such events is adjusted within the financial statements. Otherwise,
events after the balance sheet date of material size or nature are only disclosed.

2.16 Investment in subsidiaries, associates and Joint Ventures
Subsidiaries

Subsidiaries are all entities over which the company has control. The Company controls an entity when the
company is exposed to, or has rights to, variable returns from its involvement with the entity and has the
ability to affect those returns through its power to direct the relevant activities of the entity

Associates

An associate is an entity over which the Company has significant influence. Significant influence is the power
to participate in the financial and operating policy decisions of the investee but is not control or joint control
over those policies.

Joint Ventures

A Joint Venture is an arrangement in which the Company and other parties have joint control and rights to
the net assets of the arrangement. Joint control exists when decisions relating to the relevant activities
require the unanimous consent of the parties sharing control.

Corporate Entities

Investment in subsidiaries, Associates and Joint Ventures are initially recognised at Cost.

Investments in Subsidiaries , Associates and Joint Ventures are subsequently measured at fair value. For
quoted investments, fair value is determined using the quoted market price prevailing on the reporting date.
For unquoted investments, fair value is determined based on the valuation of equity shares carried out by an
independent valuer using appropriate valuation techniques. Changes in fair value are recognised in the
Statement of Profit and Loss.

Limited Liability Partnership

Investments in subsidiaries, Associates and Joint Venture LLPs are accounted for in accordance with Ind AS
27 - Separate Financial Statements and are carried at cost less impairment losses, if any. The cost of
investment comprises the amount of capital contributed and directly attributable acquisition costs. The
carrying amount is assessed for impairment whenever there is an indication that the investment may be
impaired.

2.17 Recent Pronouncements

The Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to existing standards under
the Companies (Indian Accounting Standards) Rules from time to time. MCA has notified amendments to Ind
AS 1 - Presentation of Financial Statements (classification of liabilities as current or non current,including
liabilities with covenants), Ind AS 12 -Income Taxes (International Tax Reform - Pillar Two Model Rules), Ind
AS 21 - The Effects of Changes in Foreign Exchange Rates (Lack of Exchangeability), and Ind AS 7 -
Statement of Cash Flows and Ind AS 107 - Financial Instruments: Disclosures (Supplier Finance
Arrangements), effective from April 1, 2025. The Company has reviewed these amendments and based on
its evaluation, has determined that they do not have any impact on the Company’s financial statements.

Pescription and nature of Other Equity:

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

(ii) Retained Earnings : This Reserve represents the cumulative profits of the Company and effects of
remeasurement of defined benefit obligations. This Reserve can be utilized in accordance with the provisions of the
Companies Act, 2013.

(iii) Other Comprehensive Income : This represents the cumulative gains and losses arising on the revaluation of
financial instruments measured at fair value through other comprehensive income, under an irrevocable option, net of
amounts reclassified to retained earnings when such assets are disposed off, if any. Remeasurement gains and
losses arising from experience adjustments and changes in actuarial assumptions are recognised directly in other
comprehensive income.

(iv) Share warrant : This represent instruments issued by the company entitling the holder to subscribe equivalent
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NOTE 33(a): EMPLOYEE BENEFITS EXPENSES

(a) Short Term Employee Benefits:

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered
by employees are recognised as an expense during the period when the employees render the services.

(b) Long Term Employee Benefits :

Compensated absences which are not expected to occur within twelve months after the end of the period in which the
employee renders the related service are recognised as a liability as at the Balance Sheet date on the basis of
actuarial valuation as per Projected Unit Credit Method.

Post-Employment Benefits

(c) Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions
towards Provident Fund, Employee State Insurance and Pension Scheme. The Company’s contribution is recognised
as an expense in the Statement of Profit and Loss during the period in which the employee renders the related service.

(d) Defined Benefit Plans
(i) Gratuity :

The Company offers gratuity plan for its qualified employees which is payable as per the requirements of Payment of
Gratuity Act, 1972. The benefit vests upon completion of five years of continuous service and once vested it is
payable to employees on retirement or on termination of employment. In case of death while in service, the gratuity is
payable irrespective of vesting.

Benefit Risks in Defined Benefit Schemes

1 Risk to the beneficiary

The greatest risk to the beneficiary is that there are insufficient funds available to provide the promised benefits. This
may be due to:

- The insufficient funds set aside, i.e. underfunding

- The insolvency of the Employer

- The holding of investments which are not matched to the liabilities

- Qr a combination of these events

2 Parameter risk

Actuarial valuation is done basis some assumptions like salary inflation, discount rate and attrition rate
assumptions. In case the actual experience varies from the assumptions, fund may be insufficient to pay off the
liabilities.

For example: the plan''s liability is calculated with salary inflation assumption of S% per annum. However, Company''s''
actual practice is to provide increment of 10% per annum. This will result into rise in liability and hence, underfunding.
Similarly, reduction in discount rate in subsequent future years can increase the plan''s liability.

Further, actual withdrawals may be lower or higher than what was assumed in the valuation, may also
impact the plan''s liability.

3 Risk of illiquid Assets

Another risk is that the funds, although sufficient, are not available when they are required to finance the benefits.
This may be due to assets being locked for longer period or in illiquid assets.

4 Risk of Benefit Change/ Regulatory Risk

There may be a risk that the benefit promised is changed or is changeable within the terms of the contract. For
example, Regulator may increase the benefits payable under defined benefit plans.

5 Asset liability mismatching risk

ALM risk arises due to a mismatch between assets and liabilities either due to liquidity or changes in
interest rates or due to different duration.

For example: The liability duration is 10 years. While assets are locked in S-year g-sec securities. After S years, there
is huge reinvestment risk to invest maturity proceeds of assets due to uncertainty about the market prevailing yields
at that time.

(b) Fair value hierarchy

The fair value of financial assets and liabilities are included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced sale or liquidation sale.
Methods and assumptions used to estimate the fair values are consistent in all the years. Fair value of
financial instruments referred to in note (a) above has been classified into three categories depending on the
inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active
markets for identical assets and liabilities and lowest priority to unobservable entity specific inputs.

The financial instruments are categorized into three levels based on the inputs used to arrive at fair value
measurements as decided below:

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.

Company’s business activities are exposed to a variety of financial risks like credit risk, market risks and liquidity risk. Company’s senior management is
responsible for establishing and monitoring the risk management framework within its overall risk management objectives and strategies approved by the
Board of Directors. Such risk management strategies and objectives are established to identify and analyse potential risks faced bythe Company, set
and monitor appropriate risk limits and controls, periodically review the changes in market conditions and assess risk management performance. Any
change in Company''s risk management objectives and policies need approval of it''s Board of Directors.

(a) Credit risk

Credit risk is the risk of financial loss to the Company if a customeror counterparty to a financial instrument fails to meet its contractual obligations, and
arises principally from the Company’s receivables from customers and other receivables. The carrying amounts offinancial assets represent the maximum
credit exposure.

i) Trade and other receivables

The Company’s credit risk exposure is primarily influenced by customer-specific characteristics and the default risk associated with the industry and
country in which they operate. Credit risk is managed through credit approvals, defined credit limits, and ongoing monitoring of customercreditworthiness.
The Companyrecognizesallowancesfordoubtfuldebtsand impairments, representing estimated incurred losses on trade receivables, otherreceivables,
and investments.

ii) Cash and Bank balance

The Company held cash and cash equivalents and other bank balances with credit worthy banks and financial institutions. The credit worthiness of such
banks and financial institutions is evaluated by management on an ongoing basis and is considered to be good.

(b) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk
comprises two types of risk: Currency risk and other price risk such as commodity price risk. Financial instruments affected by market risk include trade
payables, trade receivables and deposits.

i) Price risk

Commodity price risk arises from fluctuations in lead prices. The Company manages this risk within a defined risk management framework through
centralized trading operations and control processes. In line with its risk management policy, the Company may enter into derivative contracts, including
exchange-traded futures, options, and swaps, to hedge its exposure. However, as at 31st March, the Company had no outstanding derivative contracts.

ii) Currency risk

The Company is not exposed to currency risk on account of its operating activities. The functional currency of the Company is Indian Rupee.

(c) Liquidity risk:

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk by
ensuring,asfaraspossible, that it will always have sufficient liquidity to meetits liabilities when due,under both normal and stressed conditions,without
incurring unacceptable losses or risk to the Company’s reputation.

The following table shows the remaining contractual maturities of financial liabilities at the reporting date. The amounts reported are on gross and
undiscounted basis and includes contractual interest payments.

1) Benami Property

The Company does not have any Benami property under the Prohibition of Benami Property Transactions
Act, 1988 (as amended) and rules made thereunder, where any proceeding has been initiated or pending
against the Company for holding any Benami property.

2) Transaction with struck off companies

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

3) CompIiance with number of layers of companies

The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with Companies (Restriction on number of Layers) Rules, 2017.

4) DiscIosure relating to funds advanced to intermediaries

The Company has not advanced or given loan 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.

5) DiscIosure relating to funds received from funding parties

The Company has 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 to or on behalf of the ultimate beneficiaries.

6) UndiscIosed Income

The Company does not have any 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 or any other relevant provisions of the Income Tax Act, 1961.

7) DetaiIs of crypto or virtual currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

8) WiIfuI defaulter

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

9) Registration of charges and satisfaction of charges with Registrar of Companies

The Company has not created any charge during the year.

NOTE 42: DIVIDEND

During the financial year 2025-26, The company has paid a final dividend of Rs. 0.30/share, on 1st August
2025, which pertains to Financial year 2024-25, on total issued & paid - up shares - 2,26,39,347, amounting
to Rs. 67.92 Lakhs.

The company has declared in board meeting dated 7th May, 2026, a final dividend @Rs.0.70 per share for
the financial year 2025-26 subject to the approval of the shareholders in the Annual General Meeting.

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Mar 31, 2025

AB Provisions, Contingent Liabilities and Contingent Assets

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

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. ''Contingent Liabilities are not recognised but are disclosed in the notes.

Contingent Assets are neither recognised nor disclosed in the financial statements.

AC Previous Year Figures

The Company has reclassified, rearranged and regrouped the previous year figures in accordance with the requirements
applicable in the current year.

AD No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended
Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings"

AE DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company did not have any material transactions with companies struck off under Section 248 of the Companies
Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

AF RIGHT TO USE - IND AS 116, LEASES IMPACT

The Right To Use value disclosed is as per Ind AS 116 (Lease Impact). The impact of Ind AS 116 on the Company''s
financial statements at 31 March 2024 is as follows:

The details of the right-of-use assets held by the Company are as follows:

AG FINANCIAL RISK MANAGEMENT

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 board regularly meets to decide its risk management activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company,
to set appropriate risk limits and controls 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,
through its training and management standards and procedures, aims to maintain a disciplined and constructive control
environment in which all employees understand their roles and obligations.

The Company''s 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 is
also assisted by internal audit. Internal audit 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 is exposed to various financial risks. These risks are categorised into market risk, credit risk and liquidity
risk.

(a) Market Risk:

Market risk is the risk that changes with market prices - such as market prices of financial instruments and
interest rates, will affect the Company''s income or the value of its holdings of financial instruments. The objective
of market risk management is to manage and control market risk exposures within acceptable parameters, while
optimising the return.

(b) Credit Risk:

Credit risk is the risk that the Company will incur a loss because its customers or counterparties to a financial
instrument fail to discharge their contractual obligation. The Company manages and controls credit risk by setting
limits on the amount of risk it is willing to accept for individual counterparties, and by monitoring exposures in
relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of
financial instruments presented in the financial statements. The Company''s major classes of financial assets are
cash and cash equivalents, Investments, Inventories of shares, loans, term deposits, trade receivables and security
deposits.

Cash and cash equivalents and term deposits with banks are considered to have negligible risk or nil risk, as they
are maintained with high rated banks/financial institutions as approved by the Board of directors. Security deposits
are kept with stock exchanges for meeting minimum base capital requirements. These deposits do not have any
credit risk.

The management has established accounts receivable policy under which customer accounts are regularly
monitored. The Company has a dedicated risk management team, which monitors the positions, exposures
and margins on a continuous basis. The company has not made any provision on expected credit loss on trade
receivables and other financials assets, based on the management estimates.

(c) 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, 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 the Company''s
reputation.

The Company''s treasury department within the Finance Department is responsible for liquidity and funding. In
addition policies and procedures relating to such risks are overseen by the management.

The Company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated
from the operations.

The Company manages its capital structure and makes necessary adjustments in light of changes in economic
conditions and the requirement of financial covenants. To maintain or adjust the capital structure, the Company
may adjust the dividend payment to shareholders, return on capital to shareholders, issue new shares or arise/
repay debt.

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity
reserves attributable to the equity holders. The primary objective of the Company''s capital management is to
maximise the shareholder value and to ensure the Company''s ability to continue as a going concern. There is no
non-compliance with any covenants of borrowings.

AH MATERIAL DEVELOPMENT AFTER BALANCE SHEET DATE

The Company issues Bonus equity shares of 10723802 nos. equity shares of ? 10/- each in the ratio of 9:10 i.e Nine (9)
new fully paid up equity share of face value of ? 10/- (Rupees Ten only) each for every Ten (10) existing fully paid-up
equity share of face value of ? 10/- (Rupees Ten only) each held and alloted on April 11,2025.

AI CONTINGENT LIABILITIES

The Company has following pending litigations occurred after balance sheet for disposal:

1. SEBI''s issued an order on 27 June 2025, imposing a penalty of ?20 lakh u/s 15HB of the SEBI Act on Gretex Corporate
Services Ltd for violations of Reg 32 & 30 of LODR and Reg 245 r/w Sch VI of the Issue Regulations as per SEBI/HO/
EAD/EAD5/P/OW/2024/39270.

2. SEBI had issued a show-cause notice on July 11, 2025, to Gretex Corporate Services Ltd (as a Merchant Banker)
under Regulation 27(1) of the SEBI (Intermediaries) Regulations, 2008, citing alleged violations of Regulation 7 and
Regulation 13 (with Clauses 1, 3, 4, 7 & 20 of Schedule III) of the SEBI Merchant Bankers Regulations, 1992.

At this stage, any impact on the listed company remains unquantifiable pending the outcome of the proceedings.

For JAY GUPTA & ASSOCIATES For & on Behalf of Board of Directors

(Erstwhile GUPTA AGARWAL & ASSOCIATES) GRETEX CORPORATE SERVICES LIMITED

Chartered Accountants
FRN: 329001E

Sd/- Sd/-

Sd/- Arvind Harlalka Alok Harlalka

Jay Shanker Gupta Whole Time Director MD & CFO

(Partner) DIN: 00494136 DIN: 02486575

Membership No. 059535 Sd/-

UDIN : 25059535BMHBZX6657 Bhavna Nishant Desai

Company Secretary

Place : Kolkata Place : Mumbai

Date : 16^th May, 2025 Date : 16^th May, 2025

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Mar 31, 2024

AB Provision, Contingent Liabilities and Contingent Assets

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

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. ''Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

AC Previous Year Figures

The Company has reclassified, rearranged and regrouped the previous year figures in accordance with the requirements applicable in the current year.

AD No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

a) Crypto Currency or Virtual Currency

b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

c) Registration of charges or satisfaction with Registrar of Companies

d) Relating to borrowed funds

i) Wilful defaulter

ii) Utilisation of borrowed funds & share premium

iii) Borrowings obtained on the basis of security of current assets

iv) Discrepancy in utilisation of borrowings

v) Current maturity of long term borrowings

AE DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

AF RIGHT TO USE - IND AS 116, LEASES IMPACT

The Right To Use value disclosed is as per Ind AS 116 (Lease Impact). The impact of Ind AS 116 on the Company''s financial statements at 31 March 2024 is as follows:

AG FINANCIAL RISK MANAGEMENT

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 board regularly meets to decide its risk management activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls 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, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company''s 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 is also assisted by internal audit. Internal audit 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 is exposed to various financial risks. These risks are categorised into market risk, credit risk and liquidity risk.

(a) Market Risk:

Market risk is the risk that changes with market prices - such as market prices of financial instruments and interest rates, will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

(b) Credit Risk:

Credit risk is the risk that the Company will incur a loss because its customers or counterparties to a financial instrument fail to discharge their contractual obligation. The Company manages and controls credit risk by setting limits on the amount of risk it is willing to accept for individual counterparties, and by monitoring exposures in relations to such limits.

The maximum exposure to credit risk for each class of financial instruments is the carrying amount of that class of financial instruments presented in the financial statements. The Company''s major classes of financial assets are cash and cash equivalents, Investments, Inventories of shares, loans, term deposits, trade receivables and security deposits.

Cash and cash equivalents and term deposits with banks are considered to have negligible risk or nil risk, as they are maintained with high rated banks/financial institutions as approved by the Board of directors. Security deposits are kept with stock exchanges for meeting minimum base capital requirements. These deposits do not have any credit risk.

The management has established accounts receivable policy under which customer accounts are regularly monitored. The Company has a dedicated risk management team, which monitors the positions, exposures and margins on a continuous basis. The company has not made any provision on expected credit loss on trade receivables and other financials assets, based on the management estimates.

(c) 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, 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 the Company''s reputation.

The Company''s treasury department within the Finance Department is responsible for liquidity and funding. In addition policies and procedures relating to such risks are overseen by the management.

AH FINANCIAL RISK MANAGEMENT

The Company manages its capital structure and makes necessary adjustments in light of changes in economic condition financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to share to shareholders, issue new shares or arise/repay debt.

For the purpose of the Company''s capital management, capital includes issued equity capital and all other equity reserves holders. The primary objective of the Company''s capital management is to maximise the shareholder value and to ensure continue as a going concern. There is no non-compliance with any covenants of borrowings.

For. JAY GUPTA & ASSOCIATES For & on Behalf of Board of Directors

(Erstwhile GUPTA AGARWAL & ASSOCIATES) GRETEX CORPORATE SERVICES LIMITED

CHARTERED ACCOUNTANTS FRN:329001E

Arvind Harlalka Alok Harlalka

Director CFO

JAY SHANKER GUPTA (DIN - 00494136) (DIN - 02486575)

PARTNER

MEMBERSHIP NO. 059535

UDIN : 24059535BKBIYM1993 Pooja Harlalka Nishthi Dharmani

PLACE : KOLKATA Director Company Secretary

DATE : 17th April, 2024 (DIN 05326346)

PLACE : MUMBAI DATE : 17th April, 2024

AI First time adoption of IndAS Notes to reconciliation:

(1) Deferred tax

Under previous GAAP, deferred taxes were recognised for the tax effect of timing differences between accounting income and taxable income for the year i.e., income statement approach. However, under Ind AS - 12 ""deferred taxes"" are computed for temporary differences between the carrying amount of an asset or liability in the balance sheet and their respective tax base i.e. balance sheet approach.

(2) Fair valuation of investment in equity recognised in other comprehensive income

Under Ind AS, Investment in equity shares is classified for fair value through other comprehensive income. Under previous GAAP investments are carried at cost.

(3) Right-of-use asset

Ind AS 116 requires a lessee to recognise assets and liabilities for all leases subject to recognition exemptions. Thus, Right-of-use asset is recognised at cost which includes present value of lease payments adjusted for any payments made on or before the commencement of lease and initial direct cost, if any, it is subsequently measured at cost less accumulated depreciation, accumulated impairment losses, if any and adjusted for any remeasurernent of the lease liability. Right-of-use asset is depreciated using the straight-line method from the commencement date over the earlier of useful life of the asset or the ease term Similarly, Lease liability is recognised at present value of lease payments that are not made at the commencement of lease. Lease liability is subsequently measured by adjusting carrying amount to reflect interest, lease payments and remeasurernent, if any.

(4) Fair valuation of security deposits

Under the previous GAAP the Company had accounted for security deposits at the undiscounted value. In contrast, Ind AS requires that where the effect of time value of money is material, the amount of security deposits should be the present value of the amount expected to be received. The difference arising out of such discounting as at the date of transition has been adjusted against retained earnings.

(5) Investment property

Under the previous GAAP, the Company had accounted investment in property under Non-current investment, in contrast, under IndAS it is recognised separately under Non-current assets and depreciated over the useful life as per straight line method in accordance with schedule II of the Companies Act."

For. JAY GUPTA & ASSOCIATES For & on Behalf of Board of Directors

(Erstwhile GUPTA AGARWAL & ASSOCIATES) GRETEX CORPORATE SERVICES LIMITED

CHARTERED ACCOUNTANTS FRN: 329001E

Arvind Harlalka Alok Harlalka

Director CFO

JAY SHANKER GUPTA (DIN - 00494136) (DIN - 02486575)

PARTNER

MEMBERSHIP NO. 059535

UDIN : 24059535BKBIYM1993 Pooja Harlalka Nishthi Dharmani

PLACE : KOLKATA Director Company Secretary

DATE : 17th April, 2024 (DIN 05326346)

PLACE : MUMBAI DATE : 17th April, 2024

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Mar 31, 2023

^AD Provision, Contingent Liabilities and Contingent Assets

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

Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

^AE Corporate Social Responsibility (( SR)

(a) In pursuance of the provision of Section 135 of the Companies Act, 2013, the CSR provisions are not applicable to our Company for F.Y 2022-2023.

However, for the current year i.e. 2023 - 24, the same has become applicable to the Company, since the Profits of the financial year 2022 -23 has exceeded the limits prescribed for CSR Provisions. Therefore, the company has created a provision of Rs. 6,57,600.00 (Rupees Six Lakh Fifty-Seven Thousand Six Hundred Only) for CSR Expenditure.

^AF Previous Year Figures

The Company has reclassified, rearranged and regrouped the previous year figures in accordance with the requirements applicable in the current year.

For and on Behalf of the Board of Directors In terms of our report of even date

GRETEX CORPORATE SERVICES LIMITED GUPTA AGARWAL & ASSOCIATES

Chartered Accountants FRN : 329001E

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

DIMPLE MAGHARAM ARVIND HARLALKA ALOK HARLALKA JAY SHANKER GUPTA

SLUN Director Managing Director and CFO Partner

Company Secretary DIN :00494136 DIN : 02486575 Membership No. : 059535

UDIN : 23059535BGSWUU3693

Date :26/05/2023 Place :Mumbai