Modis Navnirman Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2026

Notes to First Time Adoption

i. Security Deposit (IND AS 109)

Under previous GAAP, interest free lease security deposits are recorded at it''s transaction value. Under Ind AS 109 "Financial Instruments", all financial assets are required to be initially recognized at fair value. The Company has fair valued the security deposits under Ind AS at its initial recognition. Difference between the fair value and transaction value of the security deposit has been recognized as prepayment lease rental (part of ROU asset) which has been amortised over its lease term as rent expense grouped under ''Other Project costs''. The discounted value of the security deposits is increased over the period of lease term by recognising the notional interest income grouped under ''other income''.

ii. Revenue (Ind AS 115)

Under the previous GAAP, the Company applied AS-9 and the Guidance Note on Accounting for Real Estate Transactions for revenue recognition, whereby revenue was recognized only upon achievement of specified thresholds with respect to saleable area and collection in relation to the development project. Further, the previous GAAP did not provide specific guidance for accounting of revenue and costs relating to development rights and residential/commercial units allotted in exchange for such development rights. Under Ind AS, the Company applies the five-step model prescribed in Ind AS 115 (refer revenue recognition policy in Note 1.b.8). Consequently, the revenue recognition methodology has undergone a change and revenue has been recomputed in accordance with the principles of Ind AS 115.In redevelopment arrangements, the grant of development rights by the landowner/society in exchange for construction services and transfer of residential/commercial units constitutes a transaction involving non-cash consideration. In accordance with Ind AS 115, upon obtaining control of the development rights, the Company recognizes such development rights as an asset at fair value. Correspondingly, the Company recognizes âdeemed revenueâ representing the fair value of construction services to be rendered to the landowner/society, which is recognized over time as the related performance obligations are satisfied. To the extent the development rights are received but the related performance obligations are yet to be satisfied, the Company recognizes a contract liability, presented as âunearned development rights,â representing the obligation to transfer goods or services in future periods.

Accordingly, transition to Ind AS 115 has resulted in (i) recognition of development rights as an asset, (ii) recognition of deemed revenue in respect of redevelopment arrangements, and (iii) recognition of unearned development rights as a contract liability, none of which were recognized under the previous GAAP.

iii. Lease and Right of use assets (Ind AS 116)

Under Previous GAAP, a lease is classified as a finance lease or an operating lease. Operating lease payments are recognised as an operating expense in the statement of profit or loss on a straight-line basis over the lease term. Under Ind AS 116, a lessee applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low value assets and recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. At the date of transition to Ind AS, the Company applied the modified retrospective approach and measured lease liabilities at the present value of the remaining lease payments, discounted using the lessee''s incremental borrowing rate at the date of transition to Ind AS. Right-of-use assets were measured at the amount equal to the lease liabilities.

iv. Remeasurement Gain/(Loss) of net defined benefit plan (Ind AS 19)

Under Ind AS, all actuarial gains and losses are recognised in the other comprehensive income whereas AS 15 requires the actuarial gains and losses to be accounted in the Statement of Profit and Loss. Further to the above, the deferred tax impact on above transaction has also been accounted in the other comprehensive income as per guidance under Ind AS 12 ''Income taxes''.

v. Deferred tax (Ind As 12)

Under Ind AS, deferred tax has been recognised on the adjustment made on transition to Ind AS. Previous Indian GAAP required deferred tax accounting using the income statement approach, which focuses on differences between taxable profits and accounting profits for the period. Ind AS 12 required entities to account for deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

The Company has used a practical expedient by computing the expected credit loss allowance for trade receivable based on a provision matrix. The provision matrix takes into account historical credit loss experience and adjustedfor forward - looking information. The expected credit loss allowance is based on the ageing ofthe receivables fromthe date ofthe invoice and the rates are given in the provisionmatrix asper whichtrade receivables aged (from date of invoice) beyond 3 years areprovided entirely, age of2 to3 years is provided 50%, age of 1 to 2 years at 25% and no provision is madeupto 1 year. Additional provision, where required, has been made based on specific debtors and other conditions impacting recoverability. The Company believes that the carrying amount of allowance for expected credit loss with respect to trade receivables is adequate.

Nature and purpose of reserves Securities Premium

The amount received in excess of the face value of equity shares, is recognised as Securities Premium. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

Capital Redemption Reserve

Capital Redemption Reserve represents amount transferred pursuant to Section 69 of the Companies Act, 2013 , in relation to the shares bought back by the Company during the year ended 31 March 2022.

Retained earnings

Retained earnings represent surplus/accumulated earnings of the Company and are available for distribution to shareholders. The amount that can be distributed by the Company as dividends to its equity shareholders is determined based on the financial statements of the Company and considering the requirements of the Companies Act, 2013.

Nature of security and terms of repayment for secured borrowings

*** Unsecured Loan having interest rate 10.50% per annum during during FY 2024-25 was taken from Dootrwood Impex Private Limited interest rate 9.00% per annum during during FY 2024-25 was taken from Shubhang Enterprises Pvt. Ltd. The Borrowings are taken for business purpose and are repayable within one year from 31 March 2025.

21.1 Revenue from operations is net of discount offered to customers of Rs Nil (31 March 2026:Rs.Nil)

21.2 Revenue from project which includes revenue from project individually constituting more than 10% of the total revenue from project of Rs. 14,136.19 Lakhs for the year ended 31 March 2026 and Rs 8,500.25 lakhs for the year ended 31 March 2025.

21.3 The Company receives payments from customers based upon contractual billing schedules; accounts receivable is recorded when the right to consideration becomes unconditional. In certain contracts, the Company receives advances from customer on its commencement which is adjusted against subsequent invoicing. The Company records deferred revenue when revenue is recognised subsequent to invoicing. Contract liabilities includes deferred revenue and advance from customer. Details of deferred revenue and advance from customer are disclosed in Note 20.

The Company records unbilled revenue when revenue is recognised prior to billing. Details of trade receivable and contract assets represented by unbilled revenue are disclosed in Notes 6 and 10 respectively.

21.4 The Company has recognised contract asset for the costs related directly to a contract or to an anticipated contract that the Company can specifically identify for which performance obligation is not satisfied as on 31 March 2026. The contract asset as on 31 March 2026 is Rs - 390.54 (in lakhs) & as on 31 March 2025- Rs. 1049.42 (in lakhs).

21.5 The contract liability outstanding at the beginning of the year has been recognised as revenue during the year ended 31 March, 2026. The contract assets outstanding at the beginning of the year has been billed during the year ended 31 March, 2026

35 Financial Instruments - Financial risk management

The Companyâs Board of Directors have overall responsibility for the establishment and oversight of the Companyâs risk management framework. The Board of Directors is responsible for developing and monitoring the Companyâs risk management policies.

The Companyâs risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularlyto reflect changes in market conditions and the Companyâs activities. The Company, throughits training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

35.1 Market risk

The Company is exposed to market risks such as price, interest rate fluctuation and foreign currency rate fluctuation risks, capital structure and leverage risks.

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of change in market prices.

35.2 Foreign Currency Risk Management:

The Company predominantly undertakes transactions in Indian rupees. The Company undertakes few transactions denominated in foreign currencies and consequently, exposures to exchange rate fluctuation arises. The Company does not enter into trade financial instruments including derivative financial instruments for hedging its foreign currency risk. The appropriateness of the risk policy is reviewed periodically with reference to the approved foreign currency risk management policy followed by the Company.

In management''s opinion, the sensitivity analysis is unrepresentative of the inherent foreign exchange risk because the exposure at the end of the reporting period does not reflect the exposure during the period.

35.3 Liquidity Risk Management :

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company manages liquidity risk by maintaining adequate reserves and banking facilities by continuously monitoring forecast and actual cash flows and by matching maturing profiles of financial assets and financial liabilities in accordance with the approved risk management policy of the Company. The Company invests its surplus funds in bank fixed deposits which carry minimal mark to market rates.

Interest Rate Risk Management

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Companyâs exposure to the risk of changes in market interest rates relates primarilyto the Companyâs debt obligations with floating interest rates. The Company manages its interest rate risk by having a mixed portfolio of fixed and variable rate loans and borrowings.

Liquidity and Interest Risk Tables :

The following tables detail the Company''s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows.

The Company has sufficient current assets comprising of Trade receivables, Cash and cash equivalents, Other bank balances, Loans and other current financial assets to manage the liquidity risk, if any, in relation to current financial liabilities. Based on the contractual due dates of the loan from related parties and the confirmation from the Holding Company that they will be settling amounts to enable the Company to meet its liabilities and the fact that the Company also has credit facilities with Banks, the Company believes that it has enough sources to meet its financial obligations as they fall due, in case of any deficit.

35.4 Credit Risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers. The carrying amount of financial assets represents the maximum credit exposure. The average credit period on sale of service ranges from 30 to 60 days.

Trade receivables

Credit risk arises from the possibility that customers may not be able to settle their obligations as agreed. To manage this, the businesses periodically assesses the financial reliability of customers, taking into account the financial condition, current economic trends, analysis of historical bad debts and ageing of accounts receivable. The Company establishes an allowance for doubtful receivables that represents its estimate of expected losses in respect of trade and other receivables (Refer note 6.1).

Cash and cash equivalents

The Company maintains its cash and cash equivalents with credit worthy banks and reviews it on ongoing basis. The credit worthiness of such banks is evaluated by the management on an ongoing basis and is considered to be good.

Other financial assets

Other financial assets are neither past due nor impaired.

35.5 Fair value of financial assets and financial liabilities that are not measured at fair value (but fair value disclosures are required)

The Management considers that the carrying amount of financial assets and financial liabilities recognized in the financial statements approximate their fair values.

35.6 Offsetting of Financial Assets and Financial Liabilities

The Company does not offsets financials assets and financial liabilities

Formulae used for calculation:

* Current Ratio (times) = Current Assets / Current Liabilities

* Debt-Equity Ratio (times) = Debt [Non-Current and Current Borrowings and lease liabilities] / Equity [Equity Share Capital Other Equity ]

* Debt service coverage ratio (times) = Earnings available for Debt service/ Debt service

Earning available for Debt Service = Net Profit after taxes Non-cash operating expenses like depreciation and other amortizations Interest other adjustments like loss on sale of Fixed assets etc. Debt service = Interest

âNet Profit after taxâ means reported amount of âProfit / (loss) for the periodâ and it does not include items of other comprehensive income.

* Return on Equity Ratio (%age) = Net Profits after taxes /Average Shareholder''s equity

* Inventory Turnover Ratio (times) = Cost of goods sold/Average Inventory

* Trade Receivable Turnover Ratio (times) = Net Sales / Average Trade Receivables (Simple Average: Opening Closing)/2

* Trade Payable Turnover Ratio (times) = Net Purchases / Average Trade Payables (Simple Average: Opening Closing)/2

* Net Capital Turnover Ratio (times) = Net Sales / Working Capital ( Current Assets - Current Liabilities)

* Net Profit Ratio (%age) = Net Profit After Tax /Net Sales

* Return on Capital employed (%age) = EBIT / Capital Employed ( Tangible net worth Total debt - Deferred Tax Assets )

* Return on Investment (%age) = Dividend for the year / opening value of investment

Notes :

1 Decrease in Debt Service Coverage Ratio was mainly due to decrease in earnings available for debt servicing during the year

2 Trade Receivable Turnover Ratio increased significantly due to faster collection from customers and reduction in average trade receivables during the year

3 Increase in Net Capital Turnover Ratio was mainly due to increase in revenue from operations and better utilization of working capital

4 Net Profit Ratio decreased due to increase in operating and other expenses during the year and change in revenue recognistion method

38.2 Commitments

The Company has other commitments for purchase/sale orders which are issued considering the requirements per operating cycle for purchase/sale of services, employee benefits. The Company does not have any long-term commitments or material non-cancellabale contractual commitments/contracts, which might have material impact on the financial statements.

39 Operating Segments

The Primary Reporting of the Company has been made on the basis of business segments. The Company operates in a single reportable operating segment " Real Estate Business - Construction & Redevelopment" and the information reported to the Chief Operating Decision Maker (CODM) for the purposes of resource allocation and assessment of performance focuses on this operating segment. Accordingly, the amounts appearing in the financial statements relate to this operating segment. Hence there are no separate reportable segments in accordance with Ind AS 108 ''Operating Segments''. There is only one Geographical Segments (based on geographical location of its customers) i.e. India only which is considered as a Secondary segment as per the aforesaid standard.

40 Wilful Defaulter:

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

41 Details of Crypto Currency or Virtual Currency:

During the current period and previous year the Company has not traded or invested in Crypto / Virtual Currency.

42 Undisclosed Income:

There are no transactions which are 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.

43 Corporate Social Responsibility:

As per Section 135 ofthe Companies Act 2013 (the Act), the Company was required to spend Rs.17.60 lakhs, being 2% of the average net profits for the three immediately preceding financial years (calculated in accordance with the provisions of Section 198 of the Act), in pursuance of its Corporate Social Responsibility Policy. A CSR committee has been formed by the Company as per the Act.

*Note 1-The contribution of Rs. 18.00 lakhs was made towards Point (v) of Schedule VII of the Companies Act, 2013, for promoting social welfare and improvement in day-to-day livelihood by supporting sustainable mobility initiatives. Under this initiative, electric bikes (EV bikes) were provided to dabba delivery workers to enhance their efficiency, reduce transportation costs, and support eco-friendly transportation solutions. The project aimed at improving their quality of life, encouraging green mobility, and contributing towards environmental sustainability.

*Note 2-An amount of Rs. 8.15 lakhs pertaining to the CSR shortfall of the previous financial year was contributed during the current financial year 2025-26 to the Prime Ministerâs National Relief Fund (PMNRF), in accordance with Schedule VII of the Companies Act, 2013. The shortfall in FY 2024-25 had arisen due to non-identification of suitable CSR activities/projects within the prescribed timeline. Accordingly, the unspent amount was subsequently utilized through contribution to PMNRF during the current year in compliance with applicable CSR provisions.

44 Utilisation of Borrowed funds and Share Premium :

The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kinds of funds) to any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

b. The Company has not received any fund from any person or entities, including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shah:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

45 Transfer Pricing

The Company has transactions with related parties for the year ended 31 March 2026 and year ended 31 March 2025. All transactions with related parties are in accordance with Indian Accounting Standards ("IND AS 24") and believes that the transfer pricing regulations will not have any impact in the IND AS Financial statments particularly on the amount of tax expense and that of the provision for taxation.

46 Additional Disclosures

(i) Title deeds of Immovable Properties not held in name of the Company:

The company does not hold any immovable properties (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not in the name of the company.

(ii) Loans or Advances:

The company has not granted Loans or Advances except as disclose in note 9, in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are:

(a) repayable on demand; or

(b) without specifying any terms or period of repayment.

(iii) Intangible Assets under Development:

No assets have been classifed as intangible assets under development.

(iv) Details of Benami Property held:

No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(v) Relationship with Struck off Companies:

The company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act 1956.

(vi) Registration of charges or satisfaction with Registrar of Companies (ROC):

The company does not have any charges or satisfaction yet to be registered with ROC beyond the statutory period.

(vii) Compliance 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 the Companies (Restriction on number of Layers) Rules, 2017.

47 Events after the reporting period

No Material events have occurred after the Balance sheet date and upto the date of Apporval of the financial statements.

48 Approval of Financial Statements

In connection with the preparation of the financial statements for the year ended 31 March 2026, the Board of Directors have reviewed the realizable value of all the current assets of the Company and have confirmed that the value of such assets in the ordinary course of business will not be less than the value at which these are recognised in the financial statements. In addition, the Board has also confirmed the canying value of the non-current assets in the financial statements. The Board, duly taking into account all the relevant disclosures made, has approved these financial statements in its meeting held on 15 May 2026 in accordance with the provisions of Companies Act, 2013.

49 Previous Year Comparative

Previous yearâs numbers have been regrouped/reclassified, wherever necessary, to make them comparable with the figure of the current year

Mar 31, 2025

q. AS - 29 Provisions Contingent liabilities and contingent assets :-

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

â¢ Contingent Liabilities are not recognized but are disclosed in the notes.

â¢ Contingent Assets are neither recognized nor disclosed in the financial
statements.

â¢ Provisions, Contingent Liabilities and Contingent Assets are reviewed at
each Balance Sheet Date.

28. The previous year''s figures have been reworked, regrouped, and reclassified
wherever necessary. Amounts and other disclosures for the preceding year are
included as an integral par of the current year financial statements and are to be
read in relation to the amounts and other disclosures relating to the current year.

29. Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors,
loans and Advances are subject to confirmation and therefore the effect of the same
on profit could not be ascertained.

30. Based on the information given by the Company about Creditor''s S.M.E. status,
there is no amount due to such creditors outstanding for over 30 days as at 31st
March 2024.

32. Related Parties Transaction:-

As per Accounting Standard 18, issued by the Chartered Accountants of India, The
Disclosures of Transaction with the related parties as defined in the related parties as
defined in the Accounting Standard are given below:

(a) List of related parties with whom transactions have taken place and
relationships:-

1. The transactions with all the related parties have been properly reflected in the financial
statements in accordance with the Accounting Standard-18 on "Related Party
Transactions".

As per Accounting Standard 15 "Employee Benefits", the disclosures as defined
in the Accounting Standard are given below Contribution to Defined Contribution
Plans, recognized as expenses for the year is as under:

35. Details of Benami Property Held

There are no proceedings have been initiated or pending against the company for
holding any benami property under the Prohibition of Benami Property
Transactions Act, 1988 and the Rules made thereunder

36. Security of current assets against borrowings

The company has not borrowings ''during any point of time of the year'' from banks
or financial institutions on the basis of security of current assets

37. Wilful Defaulter

The company is not declared as wilful defaulter (at any time during the financial
year or after the end of reporting period but before the date when financial
statements are approved or in an earlier period and the default has continued for
the whole or part of the current year) by any bank or financial institution or other
lender.

38. Relationship with struck off companies

The company do not have any transaction with companies struck off under section
248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

39. Registration of charges or satisfaction with Registrar of companies

The company do not have any charges or satisfaction yet to be registered with
Registrar of Companies beyond the statutory period. If any details and reasons
thereof shall be disclosed. Such details may include a brief description of the
charges or satisfaction, the location of the Registrar, the period (in days or months)
by which such charge had to be registered and the reason for delay in registration.

41. Utilization of Borrowed fund and share premium

A) Where a company has advanced or loaned or invested funds to Intermediaries
with the understanding that the Intermediary shall:

(i) 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

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries, the company shall disclose the following:

(I) date and amount of fund advanced or loaned or invested in Intermediaries
with complete details of each Intermediary.

(II) Date and amount of fund further advanced or loaned or invested by such
Intermediaries to other intermediaries or Ultimate Beneficiaries along with
complete details of the ultimate beneficiaries.

(III) Date and amount of guarantee, security or the like provided to or on behalf
of the Ultimate Beneficiaries.

(IV) Declaration that relevant provisions of the Foreign Exchange Management
Act, 1999 (42 of 1999) and the Companies Act has been complied with for such
transactions and the transactions are not violative of the Prevention of MoneyÂ¬
Laundering Act, 2002 (15 of 2003).

(B) Where a company has received any fund from any Funding Party with the
understanding that the company shall:

(i) 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

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries, the company shall disclose the following:

(I) date and amount of fund received from Funding parties with complete details
of each Funding party.

(II) date and amount of fund further advanced or loaned or invested in other
intermediaries or Ultimate Beneficiaries along with complete details of the other
intermediaries'' or ultimate beneficiaries.

(III) Date and amount of guarantee, security or the like provided to or on behalf
of the Ultimate Beneficiaries.

(IV) Declaration that relevant provisions of the Foreign Exchange Management
Act, 1999 (42 of 1999) and Companies Act has been complied with for such
transactions and the transactions are not violative of the Prevention of MoneyÂ¬
Laundering Act, 2002 (15 of 2003).

42. Undisclosed Income

The company do not have any transaction 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), unless there is immunity
for disclosure under any scheme. The company shall also not have the previously
unrecorded income and related assets have been properly recorded in the books of
account during the year.

43. Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto Currency or Virtual Currency
during the financial year, the following shall be disclosed:

(a) Profit or loss on transactions involving Crypto Currency or Virtual Currency;

(b) Amount of currency held as at the reporting date;

For D G M S & Co. For and on behalf of the Board of Directors of

Chartered Accountants MODI''S NAVNIRMAN LIMITED

^SD/- SD/-

SD/-

Hiren J. Maru Dinesh Modi Mahek Modi

Partner Director Director

M. No. 115279 DIN: 02793201 DIN: 06705998

UDIN :

Place: Mumbai Place: Mumbai

Date : 26^th May 2025 Date :26^th May 2025

Mar 31, 2024

q. AS - 29 Provisions Contingent liabilities and contingent assets

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

â¢ Contingent Liabilities are not recognized but are disclosed in the notes.

â¢ Contingent Assets are neither recognized nor disclosed in the financial statements.

â¢ Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet Date.

Note:

â¢ âThe Company is an SMC as defined in the general instruction in respect of accounting standard noticed under the companies Act, 2013. Accordingly, the company has complied with the accounting standard as applicable to an SMC." So AS - 3 & 17 is not applicable to SMC and also Diluted EPS is not applicable to the SMC.

â¢ Since there is no Subsidiary of reporting entity so AS - 21, 23, & 27 is not applicable.

For D G M S & Co. For and on behalf of the Board of Directors of

Chartered Accountants MODI''S NAVNIRMAN LIMITED

SD/- SD/- SD/-

Hiren J. Maru Dinesh Modi Mahek Modi

Partner Director Director

M. No.115279 DIN:02793201 DIN:06705998

UDIN : 24115279BKBWKL3049

Place: Mumbai Place: Mumbai

Date : 27th May, 2024 Date : 27th May, 2024

Notes Forming Part of the Financial Statements

26. The previous year''s figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral par of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

27. Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are subject to confirmation and therefore the effect of the same on profit could not be ascertained.

28. Based on the information given by the Company about Creditor''s S.M.E. status, there is no amount due to such creditors outstanding for over 30 days as at 31st March 2024.

32. Related Parties Transaction:-

As per Accounting Standard 18, issued by the Chartered Accountants of India, The Disclosures of Transaction with the related parties as defined in the related parties as defined in the Accounting Standard are given below:

(a) List of related parties with whom transactions have taken place and relationships:-

1. The transactions with all the related parties have been properly reflected in the financial statements in accordance with the Accounting Standard-18 on "Related Party Transactions".

35. Details of Benami Property Held

There are no proceedings have been initiated or pending against the company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and the Rules made thereunder

36. Security of current assets against borrowings

The company has not borrowings ''during any point of time of the year'' from banks or financial institutions on the basis of security of current assets

37. Wilful Defaulter

The company is not declared as wilful defaulter (at any time during the financial year or after the end of reporting period but before the date when financial statements are approved or in an earlier period and the default has continued for the whole or part of the current year) by any bank or financial institution or other lender.

41. Utilization of Borrowed fund and share premium

A) Where a company has advanced or loaned or invested funds to Intermediaries with the understanding that the Intermediary shall:

(i) 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

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries, the company shall disclose the following:

(I) date and amount of fund advanced or loaned or invested in Intermediaries with complete details of each Intermediary.

(II) Date and amount of fund further advanced or loaned or invested by such Intermediaries to other intermediaries or Ultimate Beneficiaries along with complete details of the ultimate beneficiaries.

(III) Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries.

(IV) Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and the Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering Act, 2002 (15 of 2003).

(B) Where a company has received any fund from any Funding Party with the understanding that the company shall:

(i) 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

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries, the company shall disclose the following:

(I) date and amount of fund received from Funding parties with complete details of each Funding

party.

(II) date and amount of fund further advanced or loaned or invested in other intermediaries or Ultimate Beneficiaries along with complete details of the other intermediaries'' or ultimate beneficiaries.

(III) Date and amount of guarantee, security or the like provided to or on behalf of the Ultimate

Beneficiaries.

(IV) Declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering Act, 2002 (15 of 2003).

42. Undisclosed Income

The company do not have any transaction 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), unless there is immunity for disclosure under any scheme. The company shall also not have the previously unrecorded income and related assets have been properly recorded in the books of account during the year.

43. Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year, the following shall be disclosed:

(a) Profit or loss on transactions involving Crypto Currency or Virtual Currency;

(b) Amount of currency held as at the reporting date;

For D G M S & Co. For and on behalf of the Board of Directors of

Chartered Accountants MODI''S NAVNIRMAN LIMITED

SD/- SD/- SD/-

Hiren J. Maru Dinesh Modi Mahek Modi

Partner Director Director

M. No.115279 DIN:02793201 DIN:06705998

UDIN : 24115279BKBWKL3049

Place: Mumbai Place: Mumbai

Date : 27th May, 2024 Date : 27th May, 2024 ..

I^r I Â¦

Mar 31, 2023

AS - 29 Provisions Contingent liabilities and contingent assets

Provisions involving substantial degree of estimation in measurement are recognized 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 recognized but are disclosed in the notes.

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

Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet Date.

â¢ "The Company is an SMC as defined in the general instruction in respect of accounting standard noticed under the companies Act, 2013. Accordingly, the company has complied with the accounting standard as applicable to an SMC." So AS - 3 & 17 is not applicable to SMC and also Diluted EPS is not applicable to the SMC.

â¢ Since there is no Subsidiary of reporting entity so AS - 21, 23, & 27 is not applicable.

For D G M S & Co. For and on behalf of the Board of Directors of

MODI''S NAVNIRMAN LIMITED

Chartered Accountants

SD/- SD/-

SD/-

Shashank P Doshi Dinesh Modi Mahek Modi

Partner Director Director

M. No.108456 DIN:02793201 DIN:06705998

UDIN :23108456BGUDON9823

Place: Mumbai Place: Mumbai

Date : 19^th May 2023 Date :19^th May 2023

28. Based on the information given by the Company about Creditorâs S.M.E. status, there is no amount due to such creditors outstanding for over 30 days as at 31st March 2023.

35. Details of Benami Property Held

There are no proceedings have been initiated or pending against the company for holding any benami property underthe Prohibition of Benami Property Transactions Act, 1988 and the Rules made thereunder

36. Security of current assets against borrowings

The company has not borrowings ''during any point of time of the year'' from banks or financial institutions on the basis of security of current assets

37. Wilful Defaulter

The company is not declared as wilful defaulter (at any time during the financial year or after the end of reporting period but before the date when financial statements are approved or in an earlier period and the default has continued for the whole or part of the current year) by any bank or financial institution or other lender.

38. Relationship with struck off companies

The company do not have any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

39. Registration of charges or satisfaction with Registrar of companies

The company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period, details and reasons thereof shall be disclosed. Such details may include a brief description of the charges or satisfaction, the location of the Registrar, the period (in days or months) by which such charge had to be registered and the reason for delay in registration.

The company shall provide a commentary explaining any change (whether positive or negative) in the ratio by more than 25% compared to the ratio of preceding year.