AeonX Digital Technology Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

2.9 Provisions, Contingent Liabilities and Contingent Assets

Provision is recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of obligation. Provision is not recognised for future operating losses.

Provision is measured at the present value of management''s best estimate of the expenditure required to settle the present
obligation at the end of the reporting period. If the effect of the time value of money is material, the amount of provision is
discounted using an appropriate pre-tax rate that reflects current market assessments of the time value of money and,
when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the
passage oftime is recognised as a finance cost.

A Contingent liability is disclosed in case of a present obligation arising from past events, when it is either not probable
that an outflow of resources will be required to settle the obligation, or a reliable estimate of the amount cannot be made. A
Contingent Liability is also disclosed when there is a possible obligation arising from past events, the existence of which

will be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the
control ofthe Company.

Contingent Assets are not recognised but where an inflow of economic benefits is probable, contingent assets are
disclosed in the financial statements.

2.10 Revenue Recognition

(i) Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of
variable consideration) allocated to that performance obligation. The transaction price of goods sold and services
rendered is net of variable consideration on account of various discounts and schemes offered by the Company as
part of contract.

(ii) Revenue is measured based on transaction price, which is the fair value of the consideration received or
receivable, stated net of discounts, and goods & service tax. Transaction price is recognised based on the price
specified in the contract, net of the estimated sales incentives/discounts.

(iii) Revenue is recognised to the extent that it is probable that the economic benefits of a transaction will flow to the
Group''s and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration
received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties
collected on behalf ofthe government.

(iv) Rental Income is accounted as and when accrues.

(v) Accumulated experience is used to estimate and provide for the discounts/rights of return, using the expected
value method.

(vi) A return liability is recognised to expected return in relation to sales made corresponding assets are recognised for
the products expected to be returned.

(vii) The Company recognises as an asset, the incremental costs of obtaining a contract with a customer, if the
Company expects to recover those costs. The said asset is amortised on a systematic basis consistent with the
transfer of goods or services to the customers.

2.11 Right of use assets

The company recognizes right of use assets at the commencement date of the lease (i.e. the date the underlying asset is
available for use). Right of use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right of use assets includes the amount of lease liabilities
recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
incenetives received, right of use assets are depreciated on a straight line basis over the shorter of the lease term and the
estimated useful lives of the assets.

2.12 Leases

At the inception of an arrangement, it is determined whether the arrangement is or contains a lease and based on the
substance ofthe lease arrangement, it is classified as a finance lease or an operating lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards
incidental to ownership to the lessee.

Assets under finance leases are capitalised at the commencement of lease at the fair value of the leased property or, if
lower, the present value of the minimum lease payments and a liability is created for an equivalent amount. Minimum
lease payments are apportioned between finance charges and reduction of the lease liability so as to achieve a constant rate
of interest on the remaining balance of the liability.

Assets given under a finance lease are recognised as a receivable at an amount equal to the net investment in the lease.
Lease income is recognised over the period of the lease so as to yield a constant rate of return on the net investment in the
lease.

Operating Leases:

Lease agreements where risk and rewards incidental to ownership of an assets, substantially vests with the Lessor, are
classified as operating lease.

2.13 Employee Benefits

(i) Short term employee benefits

Employee benefits such as salaries, wages, short term compensated absences, expected cost of bonus and ex-gratia
falling due wholly within twelve months of rendering the service are classified as short-term employee benefits
and are recognised as an expense at the undiscounted amount in the statement of profit and loss of the year in which
the related service is rendered.

(ii) Long-term benefits:

• Defined Contribution Plan:

Provident Fund:

The eligible employees of the Company are entitled to receive post-employment benefits in respect of provident in which
both employees and the Company make monthly contributions at a specified percentage of the employee''s eligible salary.
Provident Fund classified as Defined Contributions Plans as the Company has no further obligation beyond making the
contribution. The Company''s contribution is charged to the statement of profit and loss as incurred.

• Defined Benefit Plan:

Gratuity:

The Company has an obligation towards gratuity, a defined benefits retirement plan covering eligible employees. The
plan provides a lump sum payment to vested employees at retirement or death while in employment or on termination of
employment of an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon
completion of five years of service. the cost of providing benefits is determined using the Projected Unit Credit method,
with actuarial valuations being carried out at each Balance Sheet date. The Company makes contribution to Aeonx Digital
Technology Limited EMPL GGCA Scheme.

Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding amounts included in net
interest on the net defined benefit liability or asset) is reflected immediately in the Balance Sheet with a charge or credit
recognised in other comprehensive income in the period in which they occur. Remeasurement recognised in other

comprehensive income is reflected immediately in retained earnings and is not reclassified to profit or Loss. Past service
cost is recognised immediately for both vested and the non-vested portion. The retirement benefit obligation recognised in
the Balance Sheet represents the present value of the defined benefit obligation, as reduced by the fair value of scheme
assets. Any asset resulting from this calculation is limited taking into account the present value of available refunds and
reductions in future contributions to the schemes.

Compensated Absences:

The Company provides for encashment of leave or leave with pay subject to certain rules. The employees are entitled to
accumulate leave subject to certain limits for future encashment / availment. The liability is recognized based on number
of days of unutilized leave at each balance sheet date on the basis of an independent actuarial valuation. Actuarial gains
and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to the
statement of profit and loss in the period in which they arise.

Share based payment :

The Company operates equity-settled employee share based compensation plans, under which employees of the
Company receive remuneration in the form of share-based payments in consideration of the services rendered.

The fair value of stock options (at grant date) is recognized as an expense in the Statement of Profit and Loss within
employee benefits as employee share based payment expenses over the vesting period, with a corresponding increase in
share-based payment reserve (a component of equity). The cumulative expenses recognized for equity settled transaction
at each reporting date, until the vesting date, reflects the company best estimate of number of equity instruments that will
ultimately vest. No expense is recognised forwards that do not ultimately vest, except for which vesting is conditional
upon a market performance/ non-vesting condition. When the options are exercised, the Company issues fresh equity
shares.

2.14 Taxes on Income

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax'' as reported in
the Statement of Profit and Loss because of items of income or expense that are taxable or deductible in other years and
items that are never taxable or deductible. The Company''s current tax is calculated using applicable tax rates that have
been enacted or substantively enacted by the end of the reporting period and the provisions of the Income Tax Act, 1961
and other tax laws, as applicable.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilised. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to
offset current income tax assets against current income tax liabilities and when deferred income tax assets and liabilities
relate to the income tax levied by the same taxation authority on either the same taxable entity or different taxable entities
where there is an intention to settle the balances on a net or simultaneous basis.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it

is no longer probable that sufficient future taxable profits will be available to allow all or part of the asset to be recovered.

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

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

Minimum alternate Tax

MAT payable for a year is charged to the statement of profit and loss as current tax. The Company recognized MAT credit
available in the statement of profit and loss as deferred tax with a corresponding asset only to the extent that there is
probability that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit
is allowed to be carried forward. The said asset is shown as ''MAT'' Credit Entitlement'' under Deferred Tax. The Company
does not have probable certainty that it will pay normal tax during the specified period.

Current and Deferred Tax for the year

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

2.15 Earnings Per Share

The basic earnings per share are computed by dividing the net profit attributable to the equity shareholders for the year by
the weighted average number of equity shares outstanding during the reporting period. Diluted earnings per share is
computed by dividing the net profit attributable to the equity shareholders for the year by the weighted average number of
equity and dilutive equity equivalent shares outstanding during the year, except where the results would be anti-dilutive.

2.16 Foreign Currency Transactions

i. Transactions in foreign currencies are recognised at the rates of exchange prevailing at the dates of the transactions. At
the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates
prevailing at that date.

ii. Non-monetary items that are measured at historical cost denominated in a foreign currency are translated using the
exchange rate as at the date of initial transaction. Exchange differences on monetary items are recognised in profit or
loss in the period in which they arise.

iii. Functional and presentation currency

Items included in the financial statements of the entity are measured using the currency of the primary economic
environment in which the entity operates (''the functional currency''). The financial statements are presented in Indian
rupee (INR), which is entity''s functional and presentation currency.

iv. Transactions and balances

Foreign currency transaction are translated into the functional currency using the exchange rates at the dates of the
transactions. Foreign exchange gains and losses resulting from the settlement of such transaction and from the translation
of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are recognised in statement
ofprofit and loss.

Foreign exchange differences regarded as an adjustment to borrowing coasts are presented in the statement of profit and
loss, within finance costs. All other foreign exchange gains and losses are presented in the statement of profit and loss on a
net basis within other gains/losses).

2.17 Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions
ofthe instruments.

Initial Recognition:

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at
Fair Value through Profit or Loss) are added to or deducted from the fair value ofthe financial assets or financial liabilities,
as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or
financial liabilities at fair value through profit or loss are recognised in the Statement of Profit and Loss.

Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other
comprehensive income ("FVOCI") or fair value through profit or loss ("FVTPL'''') on the basis of following:

• the entity''s business model for managing the financial assets; and

• the contractual cash flow characteristics ofthe financial assets.

Amortised Cost:

A financial asset shall be classified and measured at amortised cost, if both ofthe following conditions are met:

• the financial asset is held within a business model whose objective is to hold financial assets in order to
collect contractual cash flows, and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding.

Fair Value through Other Comprehensive Income:

A financial asset shall be classified and measured at FVOCI, if both ofthe following conditions are met:

• the financial asset is held within a business model whose objective is achieved by both collecting contractual
cash flows and selling financial assets, and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding.

Fair Value through Profit or Loss:

A financial asset shall be classified and measured at FVTPL unless it is measured at amortised cost or at FVTOCI.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending
on the classification of the financial assets.

Classification and Subsequent Measurement: Financial liabilities:

Financial liabilities are classified as either financial liabilities at FVTPL or ''other financial liabilities''.

Financial liabilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial
recognition as FVTPL.

Gains or Losses on liabilities held for trading are recognised in the Statement of Profit and Loss.

Other Financial Liabilities:

Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortised
cost using the effective interest method.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest
expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash
payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction
costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter
period, to the net carrying amount on initial recognition.

Impairment of Financial Assets:

The impairment provision for Financial Assets is based on assumptions about risk of default and expected cash loss rates.
The company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on
Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting
period.

The Credit Policy approved by the Company for bad debts considering past history of bad debts, instead of recognising
allowance for expected credit loss based on provision matrix, which uses an estimated default rate, the Company makes
provision for doubtful debts based on specific by Board. The Company will reassess the model periodically and make the
necessary adjustments for loss allowance.

Derecognition of Financial Assets:

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expires, or when it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the
Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Company recognises its retained interest in the asset and an associated liability for amounts it may
have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the
Company continues to recognise the financial asset and also recognises a collateralized borrowing for the proceeds
received.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of the
consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive
income and accumulated in equity is recognised in profit or loss if such gain or loss would have otherwise been recognised
in profit or loss on disposal of that financial asset.

On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to repurchase part
of a transferred asset), the Company allocates the previous carrying amount of the financial asset between the part it
continues to recognise under continuing involvement, and the part it no longer recognises on the basis of the relative fair
values of those parts on the date of the transfer. The difference between the carrying amount allocated to the part that is no
longer recognised and the sum of the consideration received for the part no longer recognised and any cumulative gain or
loss allocated to it that had been recognised in other comprehensive income is recognised in profit or loss if such gain or
loss would have otherwise been recognised in profit or loss on disposal of that financial asset. A cumulative gain or loss

that had been recognised in other comprehensive income is allocated between the part that continues to be recognised and
the part that is no longer recognised on the basis of the relative fair values of those parts.

Financial Liabilities and Equity Instruments:

• Classification as debt or equity:

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and
an equity instrument.

• Equity instruments:

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting
all of its liabilities.

Equity instruments issued by a Company are recognised at the proceeds received.

Derecognition of Financial Liabilities:

The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expired.
The Company also derecognizes a financial liability when its terms are modified and the cash flows under the modified
terms are substantially different.

Offsetting:

Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet where there is a
legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset
and settle the liability simultaneously.

Derivative Financial Instruments:

The Company enters mainly into foreign exchange forward contracts to mitigate the foreign currency exposure risk.

Derivatives are initially recognised at fair value at the date the derivative contracts are entered and are subsequently
remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in Statement of
Profit and Loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the
timing of the recognition in Statement of Profit and Loss depends on the nature of the hedge relationship.

2.18 Critical Accounting Judgments and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires the management to make judgements, estimates and assumptions in
the application of accounting policies and that have the most significant effect on reported amounts of assets, liabilities,
incomes and expenses, and accompanying disclosures, and the disclosure of contingent liabilities. The estimates and
associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only
that period or in the period of the revision and future periods if the revision affects both current and future periods.

Key estimates, assumptions and judgements

The key assumptions concerning the future and other major sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next

financial year, are described below:

Income taxes

Significant judgements are involved in determining the provision for income taxes, including amount expected to be
paid/recovered for uncertain tax positions as also to determine the amount of deferred tax that can be recognised, based
upon the likely timing and the level of future taxable profits.

Property, Plant and Equipment/Intangible Assets

Property, Plant and Equipment/ Other Intangible Assets are depreciated/amortised over their estimated useful lives, after
taking into account estimated residual value. The useful lives and residual values are based on the Company''s historical
experience with similar assets and taking into account anticipated technological changes or commercial obsolescence.
Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount
of depreciation/amortisation to be recorded during any reporting period. The depreciation/amortisaion for future periods
is revised, if there are significant changes from previous estimates and accordingly, the unamortised/depreciable amount
is charged over the remaining useful life of the assets.

Employee Benefit Plans

The cost of the defined benefit gratuity plan and other-post employment benefits and the present value of gratuity
obligations and compensated absences are determined based on actuarial valuations. An actuarial valuation involves
making various assumptions that may differ from actual developments in the future. These include the determination of
the discount rate, future salary increases, attrition and mortality rates. Due to the complexities involved in the valuation
and its long-term nature, these liabilities are highly sensitive to changes in these assumptions. All assumptions are
reviewed at each reporting date.

Impairment of Financial Assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss rates.
The Company uses judgment in making these assumptions and selecting the inputs to the impairment calculations, based
on the Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting
period.

The Company reviews its carrying value of investments carried at amortised cost annually, or more frequently when there
is indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted
for.

Recoverability of Trade Receivables

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and
timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

Fair Value measurements of Financial Instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted prices in active markets (Net Assets Value in case of units of Mutual Funds), their fair value is measured using
valuation techniques including the Discounted Cash Flow (DCF) model. The inputs to these models are taken from
observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing fair

values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in
assumptions about these factors could affect the reported fair value of financial instruments.

Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which it may earn revenues
and incur expenses, whose operating results are regularly reviewed by the company''s chief operating decision maker to
make decisions for which discrete financial information is available. Based on the management approach as defined in
IND AS 108, the chief operating decision maker evaluates the company''s performance and allocates resources based on an
analysis ofvarious performance indicators by business segments and geographic-segments.

Earnings per share

i. Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to owners ofthe company

• by the weighted average numbers of equity shares outstanding during the financial year, adjusted for bonus
elements in equity shares issued during the year

ii. Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take
into account:

• the after income tax effect of interest and other financing costs associated with dilutive potential equity

• the weighted average number of additional equity shares that would have been outstanding assuming the
conversion of all dilutive potential equity shares.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at bank and on hand and short-term deposits with an original
maturity of there months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flow, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdraft as they are considered an integral part ofthe company''s cash management.

Other Bank Balances:

Other bank balances include deposits with maturity less than twelve months but greater than three months and balances
and deposits.

Trade receivables

A receivable is classified as a trade receivable if it is in respect of the amount due on account of goods sold or services
rendered in normal course if business. Trade receivables are recognized initially at their transaction price and
subsequently measured net of expected credit losses.

Non- current assets (or disposal groups) classified as held for disposal:

Assets are classified as held for disposal and stated at the lower of carrying amount and fair value less costs to sell.

To classify any Asset as "Asset held for disposal" the asset must be available for immediate sale and its sale must be highly

probable. Such assets or group of assets are presented separately in the Balance Sheet, in the line "Assets held for
disposal". Once classified as held for disposal, intangible assets and PPE are no longer amortised or depreciated.

Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion
of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period.

Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakh as per the
requirement of Schedule lll, unless otherwise stated.

Impairment of Assets

The Company has used certain judgements and estimates to work out future projections and discount rates to compute
value in use of cash generating unit and to access impairment. In case of certain assets independent external valuation has
been carried out to compute recoverable values of these assets.

Provisions & Contingent liabilities

Provisions and liabilities are recognised in the period when it becomes probable that there will be a future outflow of funds
resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of
recognition and quantification of the liability requires the application of judgment to existing facts and circumstances,
which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to
take account of changing facts and circumstances.

e. Rights, preferences and restrictions attached to shares :

The company has one class of equity shares having a face value of Rs.10/- each ranking pari pasu in all respect including voting
rights and entitlement to dividend. Each holder of equity shares is entitled to one vote per share. Dividend proposed by the board
of directors and approved by the shareholders in the annual general meeting is paid to the shareholders.

f. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
Company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares
held by shareholders. Dividends and tax thereon have not been recognised as liabilities in the year to which they pertain to and is
recorded in the year in which they have been approved in the Annual General Meeting.

g. Employee Stock Option Plan, 2025 (''ESOP 2025'' or the ''Plan'') was approved by the Board of Directors and the shareholders of
the Company on 10th February, 2025. The plan entitles employees of the Company and its subsidiaries to purchase shares in the
Company at the stipulated exercise price, subject to compliance with vesting conditions. (Refer Note 42)

Note 37

Financial Risk Management and Policies
A. Capital Management

For the purpose of the Company''s Capital Management, Capital includes issued Equity Share Capital and all Other Reserves
attributable to the Equity shareholders of the Company. The Primary objective of the Company''s Capital Management is to
maximise the shareholder''s value. The Company''s Capital Management objectives are to maintain equity including all reserves
to protect economic viability and to finance any growth opportunities that may be available in future so as to maximise
shareholder''s value. The Company is monitoring Capital using debt equity ratio as its base, which is debt to equity. The
Company monitors capital using debt-equity ratio, which is total debt divided by total equity.

B. Financial Risk Management and Policies

The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The risk management policy is
approved by the Company''s Board. The Company’s principal financial liabilities comprise of loans and borrowings, trade and other payables.
The main purpose of these financial liabilities is to finance the Company’s operations and to provide guarantees to support its operations in
selected instances. The Company’s principal financial assets include trade and other receivables, and cash and cash equivalents that derive
directly from its operations. The company is exposed to market risk, credit risk, liquidity risk etc. The objective of the Company’s financing
policy are to secure solvency, limit financial risks and optimise the cost of capital. The Company’s capital structure is managed using equity
and debt ratios as part of the Company’s financial planning.

a. 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 three types of risk: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk
include loans and borrowings, deposits and derivative financial instruments.The Company has designed risk management frame work to
control various risks effectively to achieve the business objectives. This includes identification of risk, its assessment, control and monitoring
at timely intervals.

The above mentioned risks may affect the Company''s income and expenses, or the value of its financial instruments. The
Company''s exposure to and management of these risks are explained below:

i. Foreign Currency Risk:

The company is subject to the risk that changes in foreign currency values impact the company export and import.

The company is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to US Dollar and Euro.

iii. Forward foreign exchange contracts/ Options/Derivatives

It is the policy of the Company to enter into forward foreign exchange contracts/Options to cover foreign currency payments in
USD. The Company enters into contracts with terms upto 90 days. The Company''s philosophy does not permit any speculative
calls on the currency. It is driven by conservatism which guides that company follow conventional wisdom by use of Forward
contracts in respect of Trade transactions.

The Company will alter its hedge strategy in relation to the prevailing regulatory framework and guidelines that may be issued
by RBI, FEDAI or ISDA or other regulatory bodies from time to time. Based on the oustanding details of import payable and
exports receivable (on event basis) the net trade exposure is arrived at (i.e. Imports - Exports=Net trade exposures).

Forward cover or options covers is obtained from Banks or Merchant House for each of the aggregated exposures and the Trade
deal is booked. The forward cover deals are all backed by actual trade underlines and settlement of these contracts on maturity
are by actual delivery of the hedged currency for settling the underline hedged trade transaction.

b. Credit Risk

Credit risk is the risk that counter party will not meet its obligation leading to a financial loss. The Company is exposed to credit
risk arising from its operating activities primarily from trade receivables, financing activities and relating to parking of surplus
funds as Deposits with Banks. The Company considers probability of default upon initial recognition of assets and where there
has been a significant increase in credit risk and on an ongoing basis throughout the reporting period..

The carrying amount of Financial Assets represents the maximum credit exposure:

Financial Instruments and Cash Deposit:

Credit risk from balances with Banks and Financial Institutions is managed by the Company''s finance department. Investments
of surplus funds are made only with approved counter parties and within credit limits assigned to each counterparty. The limits
are set to minimise the concentration of risks and thereby mitigate financial loss through counterparty''s potential failure to make
payments.

Trade Receivables

The Marketing department has established a credit policy under which each new customer is analysed individually for
creditworthiness before the Company''s standard payment and delivery terms and conditions are offered. The Company''s
review includes external ratings, if they are available, and in some cases bank references. Sale limits are established for each
customer and reviewed periodically. Trade Receivables of the Company are typically unsecured, except export receivable
which is covered through ECGC and to the extent of the security deposits/advances received from the customers or financial
guarantees provided by the market organizers in the business. Credit risk is managed through credit approvals and periodic
monitoring of the credit worthiness of customers to whom credit terms in the normal course of business are provided. The
allowance for impairment of Trade receivables is created to the extent and as and when required, based on the actual
collectability of accounts Receivables. The Company evaluates the concentration of risk with respect to trade receivables as
low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

The Company measures the expected credit loss of trade receivables and loans from customers based on historical trend,
industry practises and the business enviroment in which the entity operates. Loss rates are based on actual credit loss exposure
and past trends.

c. Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet commitments associated with
financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to
sell a financial asset quickly at close to its fair value. The company maintains a cautious liquidity strategy, with a positive cash
balance throughout the year. Management monitors the Company''s liquidity position through rolling forecasts on the basis of
expected cash flows. Cash flow from operating activities provides the funds to service and finance the financial liabilities on a
day-to-day basis.

B. Defined Benefit Plans
a. Gratuity

The Company operates a gratuity plan covering qualifying employees. Under the gratuity plan, the eligible employees are
entitiled to post retirement benefit at the rate of 15 days salary for each year of service until the retirement age of 58, subject to a
payment ceiling of E 20 lakhs.The benefit vests upon completion of five years of continuous service as per "The Payment of
Gratuity Act" and once vested it is payable to the employee on retirement or on termination of employment. The Company
makes annual contribution to the group gratuity scheme administered by the Life Insurance Corporation of India through its
Gratuity Trust Fund.

Gratuity is defined benefit plan and Company is exposed to following Risks:

Investment risk - The funds are invested by LIC and they provide returns basis the prevalent bond yields, LIC on an annual basis
requests for contributions to the fund, while the contribution requested may not be on the same interest rate as the bond yields
provided, basis the past experience it is low risk.

Interest Risk - LIC does not provide market value of assets, rather maintains a running statement with interest rates declared
annually - The fall in interest rate is not therefore offset by increase in value of Bonds, hence may pose a risk.

Mortality Risk - Since the benefits under the plan is not payable for the life time and payable till retirement age only, plan does
not have any longevity risk.

Salary risk - The liability is calculated taking into account the salary increases, basis past experience of the Company’s actual
salary increases with the assumptions used, they are in line, hence this risk is low risk.

vii. The expected rate of return on plan assets is determined after considering several applicable factors such as the composition
of the plan assets, investment strategy, market scenario, etc. In order to protect the capital and optimise returns within
acceptable risk parameters, the plan assets are well diversified.

viii. The discount rate is based on the prevailing market yields of Government of India securities as at the balance sheet date for
the estimated term of the obligations.

ix. The estimate of future salary increases considered, takes into account the inflation, seniority, promotion, increments and
other relevant factors.

Note on Sensitivity Analysis

i. Sensitivity analysis for each significant actuarial assumptions of the Company which are discount rate and salary assumptions
as of the end of the reporting period, showing how the defined benefit obligation would have been affected by changes is called
out in the table above.

ii. In presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the
projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected
benefit obligation as recognised in the balance sheet.

iii. There is no change in the method from the previous period and the points /percentage by which the assumptions are stressed are
same to that in the previous year.

b. Privilege Leave Encashment (Unfunded)

Under the compensated absences plan, leave encashment is payable to all eligible employees on separation from the Company
due to death, retirement, superannuation or resignation at the rate of last drawn daily salary, as per current accumulation of
leave days.

Note 42

Share based payment

Aeonx Digital Technology Employee Stock Option Plan, 2025 (''ESOP 2025'' or the ''Plan'') was approved by the Board of Directors
and the shareholders of the Company on 10th February, 2025. The plan entitles employees of the Company and its subsidiaries to
purchase shares in the Company at the stipulated exercise price, subject to compliance with vesting conditions. A description of the
share based payment arrangement of the Company is given below:

b. The title deeds of all immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed
in favour of the lessee), disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the
Company as at the balance sheet date.

c. The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any
Benami property.

d. The Company has not traded or invested in crypto currency or virtual currency during the financial year.

e. The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time
during the financial year or after the end of reporting period but before the date when the financial statements are approved.

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

g. The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with
Companies (Restrictions on number of Layers) Rules, 2017.

h. The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities(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.

i. The Company has not received any funds 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;

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.

j. The Company does not have any transactions which is not recorded in the books of accounts but 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).

k. The Company has not been sanctioned working capital limits in excess of ? 5 crore, in aggregate, at any points of time during the year, from
banks or financial institutions on the basis of security of current assets.

l. The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC) beyond the
statutory period.

Note 45

Balances for Trade Payables, Trade Receivables, Loans and Advances are subject to confirmations from the respective parties and
reconciliations, if any, in many cases. In absence of such confirmations, the balances as per books have been relied upon by the
auditors.

Note 46

Figures for the previous period have been regrouped, wherever necessary, to correspond with figures ofthe current period.

As per our report of even date For and on behalf of the Board of Directors

For R. A. KUVADIA & CO.

Chartered Accountants
FRN: 105487W

Sd/- Sd/- Sd/-

R. A. KUVADIA Manan Shah Ketan Shrimankar

Proprietor Director Director

Membership No. 040087 DIN : 06378095 DIN : 00452468

UDIN: 25040087BMIGWR9271

Sd/- Sd/- Sd/-

Place : Mumbai Deepak Bhardwaj Mahendra Rane Krupal Upadhyay

Date : May 28, 2025 Chief Executive Officer Chief Financial Officer Company Secretary & Compliance Officer

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Mar 31, 2024

2.9 Provisions, Contingent Liabilities and Contingent Assets

Provision is recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation. Provision is not recognised for future operating losses.

Provision is measured at the present value of management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. If the effect of the time value of money is material, the amount of provision is discounted using an appropriate pre-tax rate that reflects current market assessments of the time value of money and, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage oftime is recognised as a finance cost.

A Contingent liability is disclosed in case of a present obligation arising from past events, when it is either not probable that an outflow of resources will be required to settle the obligation, or a reliable estimate of the amount cannot be made. A Contingent Liability is also disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the control ofthe Company.

Contingent Assets are not recognised but where an inflow of economic benefits is probable, contingent assets are disclosed in the financial statements.

2.10 Revenue Recognition

(i) Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of variable consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered is net of variable consideration on account of various discounts and schemes offered by the Company as part of contract.

(ii) Revenue is measured based on transaction price, which is the fair value of the consideration received or receivable, stated net of discounts, return and goods & service tax. Transaction price is recognised based on the price specified in the contract, net ofthe estimated sales incentives/discounts.

(iii) Revenue is recognised to the extent that it is probable that the economic benefits of a transaction will flow to the Group''s and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on behalfofthe government.

(iv) Rental Income is accounted as and when accrues.

(v) Accumulated experience is used to estimate and provide for the discounts/rights of return, using the expected value method.

(vi) A return liability is recognised to expected return in relation to sales made corresponding assets are recognised for the products expected to be returned.

(vii) The Company recognises as an asset, the incremental costs of obtaining a contract with a customer, if the Company expects to recover those costs. The said asset is amortised on a systematic basis consistent with the transfer of goods or services to the customers.

2.11 Leases

At the inception of an arrangement, it is determined whether the arrangement is or contains a lease and based on the substance ofthe lease arrangement, it is classified as a finance lease or an operating lease.

Finance Leases:

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards incidental to ownership to the lessee.

Assets under finance leases are capitalised at the commencement of lease at the fair value of the leased property or, if lower, the present value of the minimum lease payments and a liability is created for an equivalent amount. Minimum lease payments are apportioned between finance

charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability.

Assets given under a finance lease are recognised as a receivable at an amount equal to the net investment in the lease. Lease income is recognised over the period of the lease so as to yield a constant rate of return on the net investment in the lease.

Operating Leases:

Lease agreements where risk and rewards incidental to ownership of an assets, substantially vests with the Lessor, are classified as operating lease.

2.12 Employee Benefits

(i) Short term employee benefits

Employee benefits such as salaries, wages, short term compensated absences, expected cost of bonus and ex-gratia falling due wholly within twelve months of rendering the service are classified as short-term employee benefits and are recognised as an expense at the undiscounted amount in the statement of profit and loss of the year in which the related service is rendered.

(ii) Long-term benefits:

• Defined Contribution Plan:

Provident and Family Pension Fund:

The eligible employees of the Company are entitled to receive post-employment benefits in respect of provident and family pension fund, in which both employees and the Company make monthly contributions at a specified percentage of the employee''s eligible salary (currently 12%). The contributions are made to AACL Trust -Provident Fund Trust. Provident Fund classified as Defined Contributions Plans as the Company has no further obligation beyond making the contribution. The Company''s contribution is charged to the statement of profit and loss as incurred.

• Defined Benefit Plan:

Gratuity:

The Company has an obligation towards gratuity, a defined benefits retirement plan covering eligible employees. The plan provides a lump sum payment to vested employees at retirement or death while in employment or on termination of employment of an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. the cost of providing benefits is determined using the Projected Unit Credit method, with actuarial valuations being carried out at each Balance Sheet date. The Company makes contribution to AACL Gratuity Fund Trust based thereon.

Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability or asset) is reflected immediately in the Balance Sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. Remeasurement recognised in other comprehensive income is reflected immediately in retained earnings and is not reclassified to profit or Loss. Past service cost is recognised immediately for both vested and the non-vested portion. The retirement benefit obligation recognised in the Balance Sheet represents the present value of the defined benefit obligation, as reduced by the fair value of scheme assets. Any asset resulting from this calculation is limited taking into account the present value of available refunds and reductions in future contributions to the schemes.

Compensated Absences:

The Company provides for encashment of leave or leave with pay subject to certain rules. The employees are entitled to accumulate leave subject to certain limits for future encashment / availment. The liability is recognized based on number of days of unutilized leave at each balance sheet date on the basis of an independent actuarial valuation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to the statement of profit and loss in the period in which they arise.

2.13 Taxes on Income

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax'' as reported in the Statement of Profit and Loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company''s current tax is calculated using applicable tax rates that have been enacted or substantively enacted by the end of the reporting period and the provisions of the Income Tax Act, 1961 and other tax laws, as applicable.

Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current income tax assets against current income tax liabilities and when deferred income tax assets and liabilities relate to the income tax levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net or simultaneous basis.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it

is no longer probable that sufficient future taxable profits will be available to allow all or part of the asset to be recovered.

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

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

Minimum alternate Tax

MAT payable for a year is charged to the statement of profit and loss as current tax. The Company recognized MAT credit available in the statement of profit and loss as deferred tax with a corresponding asset only to the extent that there is probability that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward. The said asset is shown as ''MAT'' Credit Entitlement'' under Deferred Tax. The Company does not have probable certainty that it will pay normal tax during the specified period.

2.14 Earnings Per Share

The basic earnings per share are computed by dividing the net profit attributable to the equity shareholders for the year by the weighted average number of equity shares outstanding during the reporting period. Diluted earnings per share is computed by dividing the net profit attributable to the equity shareholders for the year by the weighted average number of equity and dilutive equity equivalent shares outstanding during the year, except where the results would be anti-dilutive.

2.15 Foreign Currency Transactions

i. Functional and presentation currency

Items included in the financial statements of the entity are measured using the currency of the primary economic environment in which the entity operates (''the functional currency''). The financial statements are presented in Indian rupee (INR), which is entity''s functional and presentation currency.

ii. Transactions and balances

Foreign currency transaction are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transaction and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are recognised in statement ofprofit and loss.

Foreign exchange differences regarded as an adjustment to borrowing costs are presented in the statement of profit and loss, within finance costs. All other foreign exchange gains and losses are presented in the statement of profit and loss on a net basis within other gains/losses).

2.16 Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments.

Initial Recognition:

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at

Fair Value through Profit or Loss) are added to or deducted from the fair value ofthe financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised in the Statement of Profit and Loss.

Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit or loss (“FVTPL”) on the basis of following:

• the entity''s business model for managing the financial assets; and

• the contractual cash flow characteristics ofthe financial assets.

Amortised Cost:

A financial asset shall be classified and measured at amortised cost, if both ofthe following conditions are met:

• the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Fair Value through Other Comprehensive Income:

A financial asset shall be classified and measured at FVOCI, if both ofthe following conditions are met:

• the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Fair Value through Profit or Loss:

A financial asset shall be classified and measured at FVTPL unless it is measured at amortised cost or at FVTOCI.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets.

Classification and Subsequent Measurement: Financial liabilities:

Financial liabilities are classified as either financial liabilities at FVTPL or ''other financial liabilities''.

Financial Liabilities at FVTPL:

Financial liabilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial recognition as FVTPL.

Gains or Losses on liabilities held for trading are recognised in the Statement of Profit and Loss.

Other Financial Liabilities:

Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortised

cost using the effective interest method.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition.

Impairment of Financial Assets:

The impairment provision for Financial Assets is based on assumptions about risk of default and expected cash loss rates. The company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

The Credit Policy approved by the Company for bad debts considering past history of bad debts, instead of recognising allowance for expected credit loss based on provision matrix, which uses an estimated default rate, the Company makes provision for doubtful debts based on specific by Board. The Company will reassess the model periodically and make the necessary adjustments for loss allowance.

Derecognition of Financial Assets:

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expires, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralized borrowing for the proceeds received.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss on disposal of that financial asset.

On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to repurchase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset between the part it continues to recognise under continuing involvement, and the part it no longer recognises on the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no longer recognised and any cumulative gain or loss allocated to it that had been recognised in other comprehensive income is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss on disposal of that financial asset. A cumulative gain or loss that had been recognised in other comprehensive income is allocated between the part that continues to be recognised and the part that is no longer recognised on the basis of the relative fair values of those parts.

Financial Liabilities and Equity Instruments:

¦ Classification as debt or equity:

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

• Equity instruments:

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

Equity instruments issued by a Company are recognised at the proceeds received.

Derecognition of Financial Liabilities:

The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expired. The Company also derecognizes a financial liability when its terms are modified and the cash flows under the modified terms are substantially different.

Offsetting:

Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet where there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

Derivative Financial Instruments:

The Company enters mainly into foreign exchange forward contracts to mitigate the foreign currency exposure risk.

Derivatives are initially recognised at fair value at the date the derivative contracts are entered and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in Statement of Profit and Loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in Statement of Profit and Loss depends on the nature of the hedge relationship.

2.17 Critical Accounting Judgments and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires the management to make judgements, estimates and assumptions in the application of accounting policies and that have the most significant effect on reported amounts of assets, liabilities, incomes and expenses, and accompanying disclosures, and the disclosure of contingent liabilities. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Key estimates, assumptions and judgements

The key assumptions concerning the future and other major sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below:

Income taxes

Significant judgements are involved in determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions as also to determine the amount of deferred tax that can be recognised, based upon the likely timing and the level of future taxable profits. Also, Refer Note 34.

Property, Plant and Equipment/Intangible Assets

Property, Plant and Equipment/ Other Intangible Assets are depreciated/amortised over their estimated useful lives, after

taking into account estimated residual value. The useful lives and residual values are based on the Company''s historical experience with similar assets and taking into account anticipated technological changes or commercial obsolescence. Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation/amortisation to be recorded during any reporting period. The depreciation/amortisaion for future periods is revised, if there are significant changes from previous estimates and accordingly, the unamortised/depreciable amount is charged over the remaining useful life ofthe assets.

Employee Benefit Plans

The cost of the defined benefit gratuity plan and other-post employment benefits and the present value of gratuity obligations and compensated absences are determined based on actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, attrition and mortality rates. Due to the complexities involved in the valuation and its long-term nature, these liabilities are highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

Impairment of Financial Assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss rates. The Company uses judgment in making these assumptions and selecting the inputs to the impairment calculations, based on the Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

The Company reviews its carrying value of investments carried at amortised cost annually, or more frequently when there is indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.

Recoverability of Trade Receivables

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

Fair Value measurements of Financial Instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets (Net Assets Value in case of units of Mutual Funds), their fair value is measured using valuation techniques including the Discounted Cash Flow (DCF) model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the company''s chief operating decision maker to make decisions for which discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision maker evaluates the company''s performance and allocates resources based on an analysis of various performance indicators by business segments and geographic-segments.

Earnings per share

i. Basic earnings per share

Basic earnings per share is calculated by dividing:

- the profit attributable to owners ofthe company

- by the weighted average numbers of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year

ii. Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

-the after income tax effect of interest and other financing costs associated with dilutive potential equity

-the weighted average numbet of additional equity shares that would have been outstanding assuming the conversion of

all dilutive potential equity shares.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at bank and on hand and short-term deposits with an original maturity of there months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flow, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdraft as they are considered an integral part ofthe company''s cash management.

Non- current assets (or disposal groups) classified as held for disposal:

Assets are classified as held for disposal and stated at the lower of carrying amount and fair value less costs to sell.

To classify any Asset as “Asset held for disposal” the asset must be available for immediate sale and its sale must be highly probable. Such assets or group of assets are presented separately in the Balance Sheet, in the line “Assets held for disposal”. Once classified as held for disposal, intangible assets and PPE are no longer amortised or depreciated.

Classification of Assets and Liabilities into Current/Non-current:

The All assets and liabilities in the Balance Sheet have been classified based on Current / Non-current classification.

An asset is classified as Current when:

• It is expected to be realised or intended to be sold or consumed in normal operating cycle; or

• It is held primarily for the purpose of trading; or

• It is expected to be realised within twelve months after the reporting period; or

• It is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as Non-current.

A liability is classified as Current when:

• It is expected to be settled in normal operating cycle; or

• It is held primarily for the purpose of trading; or

• It is due to be settled within twelve months after the reporting period; or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as Non-current.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents.

Deferred Tax Assets and Liabilities are classified as Non-current assets and liabilities.

Operating cycle for current and non-current classification

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria as set out in the Division II of Schedule III to the Companies Act, 2013. Based on the nature of the services and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of assets and liabilities.

Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period.

Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakh as per the requirement of Schedule lll, unless otherwise stated.

Impairment of Assets

The Company has used certain judgements and estimates to work out future projections and discount rates to compute value in use of cash generating unit and to access impairment. In case of certain assets independent external valuation has been carried out to compute recoverable values of these assets.

Provisions & Contingent liabilities

Provisions and liabilities are recognised in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability requires the application of judgment to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

2.18 Disclosure pursuant to Ind-AS 27 “Separate Financial Statements”

Investment in subsidiary company is accounted at cost.

e. Rights, preferences and restrictions attached to shares :

The company has one class of equity shares having a face value of Rs.10/- each ranking pari pasu in all respect including voting rights and entitlement to dividend. Each holder of equity shares is entitled to one vote per share. Dividend proposed by the board of directors and approved by the shareholders in the annual general meeting is paid to the shareholders.

f. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by shareholders. Dividends and tax thereon have not been recognised as liabilities in the year to which they pertain to and is recorded in the year in which they have been approved in the Annual General Meeting.

Note 32

Financial Risk Management and Policies A. Capital Management

For the purpose of the Company''s Capital Management, Capital includes issued Equity Share Capital and all Other Reserves attributable to the Equity shareholders of the Company. The Primary objective of the Company''s Capital Management is to maximise the shareholder''s value. The Company''s Capital Management objectives are to maintain equity including all reserves to protect economic viability and to finance any growth opportunities that may be available in future so as to maximise shareholder''s value. The Company is monitoring Capital using debt equity ratio as its base, which is debt to equity. The Company monitors capital using debt-equity ratio, which is total debt divided by total equity.

B. Financial Risk Management and Policies

The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The risk management policy is approved by the Company''s Board. The Company’s principal financial liabilities comprise of loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations and to provide guarantees to support its operations in selected instances. The Company’s principal financial assets include trade and other receivables, and cash and cash equivalents that derive directly from its operations. The company is exposed to market risk, credit risk, liquidity risk etc. The objective of the Company’s financing policy are to secure solvency, limit financial risks and optimise the cost of capital. The Company’s capital structure is managed using equity and debt ratios as part of the Company’s financial planning.

a. 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 three types of risk: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk include loans and borrowings, deposits and derivative financial instruments.The Company has designed risk management frame work to control various risks effectively to achieve the business objectives. This includes identification of risk, its assessment, control and monitoring at timely intervals.

The above mentioned risks may affect the Company''s income and expenses, or the value of its financial instruments. The Company''s exposure to and management of these risks are explained below:

i. Foreign Currency Risk:

The company is subject to the risk that changes in foreign currency values impact the company export and import.

The company is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to US Dollar and Euro.

The company manages currency exposures within prescribed limits, through use of derivative instruments such as Options, Futures and Forward contracts etc. Foreign currency transactions are covered with strict limits placed on the amount of uncovered exposure, if any, at any point of time.

iii. Forward foreign exchange contracts/ Options/Derivatives

It is the policy of the Company to enter into forward foreign exchange contracts/Options to cover foreign currency payments in USD. The Company enters into contracts with terms upto 90 days. The Company''s philosophy does not permit any speculative calls on the currency. It is driven by conservatism which guides that company follow conventional wisdom by use of Forward contracts in respect of Trade transactions.

The Company will alter its hedge strategy in relation to the prevailing regulatory framework and guidelines that may be issued by RBI, FEDAI or ISDA or other regulatory bodies from time to time. Based on the oustanding details of import payable and exports receivable (on event basis) the net trade exposure is arrived at (i.e. Imports - Exports=Net trade exposures).

Forward cover or options covers is obtained from Banks or Merchant House for each of the aggregated exposures and the Trade deal is booked. The forward cover deals are all backed by actual trade underlines and settlement of these contracts on maturity are by actual delivery of the hedged currency for settling the underline hedged trade transaction.

b. Credit Risk

Credit risk is the risk that counter party will not meet its obligation leading to a financial loss. The Company is exposed to credit risk arising from its operating activities primarily from trade receivables, financing activities and relating to parking of surplus funds as Deposits with Banks. The Company considers probability of default upon initial recognition of assets and where there has been a significant increase in credit risk and on an ongoing basis throughout the reporting period..

The carrying amount of Financial Assets represents the maximum credit exposure:

Financial Instruments and Cash Deposit:

Credit risk from balances with Banks and Financial Institutions is managed by the Company''s finance department. Investments of surplus funds are made only with approved counter parties and within credit limits assigned to each counterparty. The limits are set to minimise the concentration of risks and thereby mitigate financial loss through counterparty''s potential failure to make payments.

Trade Receivables

The Marketing department has established a credit policy under which each new customer is analysed individually for creditworthiness before the Company''s standard payment and delivery terms and conditions are offered. The Company''s review includes external ratings, if they are available, and in some cases bank references. Sale limits are established for each customer and reviewed periodically. Trade Receivables of the Company are typically unsecured, except export receivable which is covered through ECGC and to the extent of the security deposits/advances received from the customers or financial guarantees provided by the market organizers in the business. Credit risk is managed through credit approvals and periodic monitoring of the credit worthiness of customers to whom credit terms in the normal course of business are provided. The allowance for impairment of Trade receivables is created to the extent and as and when required, based on the actual collectability of accounts Receivables. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

The Company measures the expected credit loss of trade receivables and loans from customers based on historical trend, industry practises and the business enviroment in which the entity operates. Loss rates are based on actual credit loss exposure and past trends.

c. Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet commitments associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to sell a financial asset quickly at close to its fair value. The company maintains a cautious liquidity strategy, with a positive cash balance throughout the year. Management monitors the Company''s liquidity position through rolling forecasts on the basis of expected cash flows. Cash flow from operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.

B. Defined Benefit Plans a. Gratuity

The Company operates a gratuity plan covering qualifying employees. Under the gratuity plan, the eligible employees are entitiled to post retirement benefit at the rate of 15 days salary for each year of service until the retirement age of 58, subject to a payment ceiling of E 20 lakhs.The benefit vests upon completion of five years of continuous service as per "The Payment of Gratuity Act" and once vested it is payable to the employee on retirement or on termination of employment. The Company makes annual contribution to the group gratuity scheme administered by the Life Insurance Corporation of India through its Gratuity Trust Fund.

Gratuity is defined benefit plan and Company is exposed to following Risks:

Investment risk - The funds are invested by LIC and they provide returns basis the prevalent bond yields, LIC on an annual basis requests for contributions to the fund, while the contribution requested may not be on the same interest rate as the bond yields provided, basis the past experience it is low risk.

Interest Risk - LIC does not provide market value of assets, rather maintains a running statement with interest rates declared annually - The fall in interest rate is not therefore offset by increase in value of Bonds, hence may pose a risk.

Mortality Risk - Since the benefits under the plan is not payable for the life time and payable till retirement age only, plan does not have any longevity risk.

Salary risk - The liability is calculated taking into account the salary increases, basis past experience of the Company’s actual salary increases with the assumptions used, they are in line, hence this risk is low risk.

Gratuity Valuation

Valuations in respect of above have been carried out by independent actuary, as at the balance sheet date, based on the following assumptions:

Note on Sensitivity Analysis

i. Sensitivity analysis for each significant actuarial assumptions of the Company which are discount rate and salary assumptions as of the end of the reporting period, showing how the defined benefit obligation would have been affected by changes is called out in the table above.

ii. In presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit obligation as recognised in the balance sheet.

iii. There is no change in the method from the previous period and the points /percentage by which the assumptions are stressed are same to that in the previous year.

b. Privilege Leave Encashment (Unfunded)

Under the compensated absences plan, leave encashment is payable to all eligible employees on separation from the Company due to death, retirement, superannuation or resignation at the rate of last drawn daily salary, as per current accumulation of leave days.

Note 35

Financial Instruments

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Valuation

All financials instruments are intially recognised & subsequently re-measured at fair value as described below

i. The fair value of Forward Foreign Exchange contracts is determined using forward exchange rates at the balance sheet date.

ii. The fair value of over the counter Foreign Currency Options contracts is determined using the mark-to-market from Bank.

iii. The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

Fair Value measurement heirarchy

The fair value of financial instruments as referred below have 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 or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market;

Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and Level 3: Inputs which are not based on observable market data.

The carrying amounts and fair values of financial instruments by class are as follows:

b. The title deeds of all immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee), disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

c. The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

d. The Company has not traded or invested in crypto currency or virtual currency during the financial year.

e. The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial year or after the end of reporting period but before the date when the financial statements are approved.

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

g. The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

h. The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities(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.

i. The Company has not received any funds 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;

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.

j. The Company does not have any transactions which is not recorded in the books of accounts but 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).

k. The Company has not been sanctioned working capital limits in excess of E 5 crore, in aggregate, at any points of time during the year, from banks or financial institutions on the basis of security of current assets.

l. The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC) beyond the statutory period.

Note 37

Balances for Trade Payables, Trade Receivables, Loans and Advances are subject to confirmations from the respective parties and reconciliations, if any, in many cases. In absence of such confirmations, the balances as per books have been relied upon by the auditors.

Note 38

Figures for the previous period have been regrouped, wherever necessary, to correspond with figures ofthe current period.

As per our report of even date For and on behalf of the Board of Directors

For R. A. KUVADIA & CO.

Chartered Accountants FRN: 105487W

Sd/- Sd/- Sd/-

R. A. KUVADIA Manan Shah Manoj Ganatra

Proprietor Director Director

Membership No. 040087 DIN : 06378095 DIN 00568914

UDIN: 24040087BKAIJB2015

Sd/- Sd/- Sd/-

Place : Mumbai Deepak Bhardwaj Jitendra Kumar Jain Krupal Upadhyay

Date : May 17, 2024 Chief Executive Officer Chief Financial Officer Company Secretary & Compliance Officer

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Mar 31, 2016

1) Details of shares held by the Holding Company, the ultimate holding company, their subsidiaries and associates:

2. In the opinion of the Board of Directors of the Company, the current assets, loans and advances are approximately of the value stated in the Balance Sheet, if realized in the ordinary course of business.

3. The Company has provided for gratuity to employees based on the actuarial valuation report. However they said liabilities aggregating to Rs.5.02 lacs (P.Y. Rs.5.76 lacs) are not funded.

4. Segment Reporting: Business Segment

The company is having two Business Segments viz. Chemical Division (Manufacturing) and Global Trading Division.

5. Related Party Transactions :

A. Holding Company:

Aura Alkalies and Chemicals Private Limited

B. Subsidiary Company:

Ashwa Minerals Private Limited

C. Associates

- Prabhudas Vithaldas

- Bharat Abrasives and Chemicals Industries

- Kantilal Mohanlal Mehta

- Saurashtra Traders

- Vinod Pandya

- Yogita Allied & Calcined Products

- Shyam Minerals

- Shiva Mines & Minerals

- Altage Stone Crushing Industries

- Aditya Minerals

- Avni Minerals

- Prachi Mines

- Nilesh Mines

- Manohar Daryayani

- Sandeep Abrasives Industries

D. Director(s) / Key Managerial Personnel (KMP):

- Mr. Sunil Shah - Director

- Mr. Sridhar Chari - Whole Time Director ( Up to 24th March 2016)

- Mr. V.Shashidharan - Chief Financial Officer

- Ms.Seema Gangawat - Company Secretary & Compliance Officer

E. Relatives of Director(s) / Key Managerial Personnel :

- Mr. Raviraj S. Shah

*Exclusive of Service Tax

7. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid at the yearend together with interest paid/ payable under this Act, has not been given.

8. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS)-28 issued by the Institute of Chartered Accountants of India. Based on the judgment of the Management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the assets.

9. Remuneration includes Rs.36.13 Lacs (P.Y. Rs.35.62 lacs) paid to Whole Time Director.

10. Capacities, Production, Stocks and Sales : (As Certified by the Management)

11. Balances for Trade Payables, Trade Receivables, Loans and Advances are subject to confirmations from the respective parties and reconciliations, if any, in many cases. In absence of such confirmations, the balances as per books have been relied upon by the auditors.

12. On March 31, 2016 the Company has acquired 100% Equity Shares of Ashwa Minerals Private Limited and consequent to the said acquisition, Ashwa Minerals Private Limited has become a wholly owned subsidiary of the Company.

13. Previous year''s figures have been regrouped/recast wherever necessary to correspond with the current year''s classification disclosure.

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Mar 31, 2015

1. The company has issued only one class of shares referred to as Equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share.

2. Contingent Liabilities and Commitments:

a) Contingent Liabilities not provided for in respect of:

Sr. Particulars 2014 - 2015 2013 - 2014 No.

1. Income Tax matters 1,54,43,399 43,24,222

2. Sales Tax 13,96,998 13,96,998

3. Excise/Service Tax matters NIL 3,75,855

Total 1,68,40,397 60,97,075

3. In the opinion of the Board of Directors of the Company, the Current Assets, Loans and Advances are approximately of the value stated in the Balance Sheet, if realized in the ordinary course of Business.

4. The Company has provided for gratuity to employees based on the actuarial valuation report. However the said Liabilities aggregating to Rs. 5.76 lacs are not funded.

5. Segment Reporting Business Segment

The company is having two Business Segments viz. Chemical Division (Manufacturing) and Global Trading Division.

6. Related PartyTransactions :

A. Holding Company:

Aura Alkalies and Chemicals Private Limited

B. Key Management Personnel:

Mr. Sridhar Chari - Whole Time Director

Mr. Shashidharan V. - Chief Financial Officer

Mrs.Seema Gangawat - Company Secretary & Compliance Officer

C. Relatives of Key Management Personnel: NIL

7. Consequent to the enactment of the Companies Act, 2013 (the Act) and its applicability for the accounting period commencing after 1 April, 2014, the Company has reviewed and revised the estimated useful lives of its Fixed Assets, generally in accordance with the provisions of Schedule II of the Act. Consequent to change of useful life an amount of Rs. 3,36,511/- (net of deferred tax Rs. 1,65,744/-) representing WDV of those assets whose useful life had already expired as on 1st April, 2014 has been adjusted against the General Reserve. Had there been no change, depreciation charges for the year ended 31st March, 2015 would have been higher by Rs. 26,91,876/- and profit would have been lower by Rs.26,91,876/- for the year.

8. DeferredTax :

Considering the market trend for Company's product and Management's perception on future outlook of the Company, the Deferred Tax Surplus for current year is accounted to Profit & Loss Account. The deferred tax adjustment in terms of Accounting Standard 22 is assessed out on the basis of following timing differences.

9. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid at the year end together with interest paid/ payable under this Act, has not been given.

10. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS)-28 issued by the Institute of Chartered Accountants of India. Based on the judgment of the Management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the assets.

11. Remuneration includes Rs. 35.62 Lacs (P.Y. Rs. 29.48 lacs) paid to Whole Time Director.

12. Capacities, Production, Stocks and Sales : (As Certified by the Management)

Notes : ( i) Figures in brackets are in respect of the previous year.

(ii) Sales includes Excise Duty and Sales Tax

(iii) Loss / Gain of goods and captive consumption during the year are adjusted in sales quantity.

13. The Company had in the previous year, issued, 4,50,000 convertible equity warrants of Rs. 30 each to Aura Alkalies and Chemicals Private Limited (Promoter Group) on preferential basis . These warrants were converted into 4,50,000 equity shares at Rs 10 each and at a premium of Rs 20 during the current financial year.

14. Balances for Trade Payables, Trade Receivables, Loans and Advances are subject to confirmations from the respective parties and reconciliations, if any, in many cases. In absence of such confirmations, the balances as per books have been relied upon by the auditors.

15. Previous year's figures have been regrouped/recast wherever necessary to correspond with the current year's classification disclosure.

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Mar 31, 2014

1. Contingent Liabilities:

Contingent Liabilities not provided for in respect of:

Sr. Particulars 2013-2014 2012-2013 No. Rs. Rs.

1. Income Tax matters 43,24,222 3,99,38,826

2. Sales Tax 13,96,998 13,96,998

3. Excise/Service tax matters 3,75,855 10,35,125

Total 60,97,075 4,23,70,949

2. In the opinion of the Board of Directors of the Company, the Current Assets, Loans and Advances are approximately of the value stated in the Balance Sheet, if realised in the ordinary course of Business.

3. The provision for doubtful debts continues at an amount of Rs. 1056.35 Lacs (P. Y.1056.35 Lacs). In the opinion of the management these debts have not become bad and they are hopeful of recovery of the amount.

4. The Company has provided for Gratuity to employees based on the actuarial valuation report. However the said liabilities aggregating to Rs. 9.59 are not funded.

5. Related Party Transactions :

A. Associate Concerns :

- Aura Alkalies and Chemicals Private Limited

B. Key Management Personnel and Relatives :

- Sridhar Chari - Whole Time Director

6. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid at the year end together with interest paid/ payable under this Act, has not been given.

7. Balances for Trade Payables, Trade Receivables, for Loans and Advances are subject to confirmations from the respective parties and reconciliations, if any, in many cases. In absence of such confirmations, the balances as per books have been relied upon by the auditors.

8. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS)-28 prescribed under the Companies (Accounting Standards)Rules, 2006. Based on the judgement of the management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the assets.

9. The Company has during the year issued 3,75,000 convertible Equity Warrants of Rs.10 each to Aura Alkalies and Chemicals Private Limited a body corporate under the promoters group on preferential basis at a premium of Rs.20 per share/ warrant. These warrants are convertible into one equity share against each warrant within a period of 18 months from the date of the issue.

10. Remuneration includes Rs.36.32 Lacs paid to Whole Time Director (P.Y. Rs. 16.29 Lacs paid to Managing Director upto 26.11.2012 and a Whole Time Director).

Notes: (i) Figures in brackets are in respect of the previous year. (ii) Sales includes Excise Duty and Sales Tax. (iii) Loss / Gain of goods and captive consumption during the year are adjusted in sales quantity.

11. Previous year''s figures have been regrouped/recast wherever necessary to correspond with the current year''s classification disclosure.

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Mar 31, 2013

1. Contingent Liabilities:

Contingent Liabilities not provided for in respect of:

Sr. Particulars 2012-2013 2011-2012 No. Rs. Rs.

1. Income Tax matters 3,99,38,826/- NIL

2. Sales Tax 13,96,998/- 13,96,998/-

3. Excise/Service tax matters 10,35,125/- 5,85,376/-

4. Bank Guarantee NIL 7,22,300/-

Total 4,23,70,949/- 27,04,674/-

2. In the opinion of the Board of Directors of the Company, the current assets, loans and advances are approximately of the value stated in the Balance Sheet, if realised in the ordinary course of business.

3. The provision for doubtful debts continues at an amount of Rs. 1056.35 Lacs (P.Y. Rs. 1056.35 Lacs). In the opinion of the management these debts have not become bad and they are hopeful of recovery of the amount.

4. The Company has provided for Gratuity to Employees based on the actuarial valuation report. However the said Liabilities aggregating to Rs. 3.95 Lacs are not funded.

5. Related Party Transactions (upto 26.11.2012):

A. Associate Concerns:

- Kumaka Industries Limited (Formerly Known as Ashok Organic Industries Limited)

- Kadakia Alkalies & Chemicals Limited

- Ashok Cellulose Limited

- Ashok Chem Pharma International

- USM Enterprise

- Aqua Alco Bio-Tech Pvt. Ltd.

- Ashok Pharmaceuticals Pvt. Ltd.

- Ashok & Brothers, Ashok M. Kadakia HUF

- Anil M. Kadakia HUF

- Pankaj M. Kadakia HUF

- Aura Alkalies and Chemicals Private Limited

B. Key Management Personnel and Relatives:

- Dr. Anil M. Kadakia (resigned on 26.11.2012)

C. Relatives of Key Management Personnel:

- Mrs. Urvashi Ashok Kadakia Proprietor of Raj Enterprises (Wife of Mr. Ashok M. Kadakia)

- Mrs. Shobhana Anil Kadakia (Wife of Dr. Anil M. Kadakia)

6. The Company has not received information from vendors regarding their status under the Micro,Small and Medium Enterprises Developement Act, 2006 and hence, disclosure relating to amounts unpaid as at the year -end together with interest paid/ payable under this Act have not been given.

7. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS)-28 issued by the Institute of Chartered Accountants of India. Based on the judgment of the Management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the Assets.

8. Remuneration includes Rs.16.29 Lacs (P.Y. Rs. 23.93 Lacs) paid to Managing Director upto 26th November, 2012 and a whole time Director.

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Mar 31, 2012

1. The company has not made provision for interest on sales tax assessment dues of earlier years aggregating to Rs.66,67,265/-which has resulted in the profit for the year and Reserves and Surplus being overstated by the said amount.

2. The company has entered into transactions with concern in which Managing Director is interested and has not complied with the provisions of section 297 under the Companies Act, 1956 and the purchases amounts to Rs. 23,76,115/- and sales amounts to Rs. 31,50,760/-

3. Contingent Liabilities:

Contingent Liabilities not provided for in respect of:

Sr. Particulars 2011 - 2012 2010 - 2011 No.

1. Income Tax matters NIL 1,49,57,630/-

2. Sales Tax 13,96,998/- 80,64,263/-

3. Excise/Service tax matters 5,85,376/- 5,85,376/-

4. Bank Guarantee 7,22,300/- NIL

Total 27,04,674/- 2,36,07,269/-

4. Capital Commitments:

Estimated amount of contracts remaining to be executed on capital account and not provided for amounts to Rs. 2,90,77,155/- (Rs. NIL)

5. In the opinion of the Board of Directors of the Company, the current assets, loans and advances are approximately of the value stated in the Balance Sheet, if realized in the ordinary course of business.

6. Assets under Operating Leases:

The Company has taken on operating lease certain assets. The total lease rent paid on the Immovable Equipments amounts to Rs. 35,57,746/- and the amount amortized on leased land amounts to Rs. 12,677/-

7. The provision for doubtful debts continues at an amount of Rs. 1056.35 Lacs (RY1056.35 iacsj. In the opinion of the management these debts have not become bad and they are hopeful of recovery of the amount.

8. The company has provided for gratuity to employees based on the actuarial valuation report. However they said liabilities aggregating to Rs. 13.51 are not funded. We have been informed by the management that Life Insurance Corporation of India has permitted to remit the said dues within a span of twelve months starting from March, 2012.

9. Related Party Transaction :

A. Associate Concerns :

- Kumaka Industries Limited ( Formerly Known as Ashok Organics Limited)

- Kadakia Alkalies & Chemicals Limited

- Ashok Cellulose Limited

- Ashok Chem Pharma International

- USM Enterprise

- Aqua Alco Bio-tech Pvt. Ltd.

- Ashok Pharmaceuticals Pvt. Ltd.

- Ashok & Brothers, Ashok M Kadakia HUF

- Anil M Kadakia HUF

- Pankaj M Kadakia HUF

- Aura Alkalies and chemicals private Limited

B. Key Management Personnel and Relatives :

- Dr. Anil M. Kadakia

C. Relatives of Key Management Personnel :

- Mrs. Urvashi Ashok Kadakia Proprietor of Raj Enterprises (Wife of Mr. Ashok M. Kadakia)

- Mrs. Shobhana Anil Kadakia (Wife of Dr. Anil M. Kadakia)

10. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS)-28 issued by the Institute of Chartered Accountants of India. Based on the judgment of the Management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the assets.

11. Remuneration includes Rs.23.93 Lacs (P.Y. Rs. 24.00 lacs) paid to Managing Director.

12. The Revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped/recast wherever necessary to correspond with the current year's classification disclosure.

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Mar 31, 2010

1. Figures for previous year have been re-grouped wherever necessary.

2. Contingent Liabilities not provided for in respect of :

(Amount in Rupees)

Sr. Particulars 2009-10 2008-09

No.

I Income-tax matters 1,49,57,630/- 2,15,67,630/-

II Excise matters Nil 27,220/- III Labour matters 4,40,000/- 4,40,000/-

Total : 1,53,97,630/- 2,20,34,850/-

Note : Company is seeking legal remedy in the form of appeal and alternate redressal in respect of liabilities listed above.

3. In the opinion of the Board of Directors of the Company, the current assets, loans and advances are approximately of the value stated in the Balance Sheet, if realised in the ordinary course of business.

4. The provision for doubtful debts continues at an amount of Rs 1056.35 Lacs(P.Y.1056.35 lacs) In the opinion of the management these debts have not become bad and they are quite hopeful of recovery of the amount.

5. Unclaimed dividend amounting to Rs 2,72,924 /- remaining unpaid even after the stipulated period of seven year is not deposited in Investor Education and Protection Fund, as the same is yet to be reconciled.

6. The Company,s reference made to BIFR u/s 15(1) of the Sick Industrial Companies(Special Provisions) Act, 1985 , registered under reference no 291/2003 has been dismissed by the Bench as non-maintainable on account of networth of the company being positive.

Note: Previous year figures have not been given in the above statement in view of adoption of AS 17 Segment Reporting by the Company for the first time.

OTHE DISCLOSURES

1. Segments have been identified in line with the Accounting Standard on Segment Reporting (AS-17) taking into account the organization structure as well as the differential risks and returns of these Segments.

2. The Company has disclosed Manufacturing segment as the primary segment.

4. The Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segment and amounts allocated on a reasonable basis.

7. Related Party Transaction :

As required by Accounting Standard - AS - 18, "Related Parties Disclosure" issued by the Institute of Chartered Accountants of India, the details are as follows:

List of Related parties are as under (more than 20% controlled by the Directors and Relatives):

A. Associate Concerns :

- Ashok Organic Industries Limited

- Kadakia Alkalies & Chemicals Limited

- Ashok Cellulose Limited

- Ashok Chem Pharma International

- USM Enterprise

- Devjagan Salt Farm Pvt. Ltd.

- Aqua Alco Bio-tech Pvt. Ltd.

- Ashok Pharmaceuticals Pvt. Ltd.

- Ashok & Brothers, Ashok M Kadakia HUF

- Anil M Kadakia HUF

- Pankaj M Kadakia HUF

B. Key Management Personnel and Relatives :

- Dr. Anil M. Kadakia

- Mr. Pankaj M. Kadakia

C. Relatives of Key Management Personnel :

- Mrs. Urvashi Ashok Kadakia Proprietor of Raj

Enterprises (Wife of Mr. Ashok M. Kadakia)

- Mrs. Shobhana Anil Kadakia (Wife of Dr. Anil M. Kadakia)

- Mrs. Madhavi Pankaj Kadakia (Wife of Mr. Pankaj M. Kadakia)

8. As required by the notification no. GSR 129 (E) dated 22nd February, 1999 issued by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs and based on the information available with the Company in respect of the status of the suppliers, a sum of Rs.11,36,645/- is due and is included in "Sundry Creditors". The Company has not received any claim for interest from the suppliers covered by the said provisions. The suppliers covered by the said provisions to whom the Company owes more than Rs.1 lac for more than 30 days as at 31st March, 2010 are : Maldar Barrels Pvt. Ltd., and Renu Engineering Industries.

9. The Management of the Company has, during the year, carried out technological evaluation for identification of impairment of assets, if any, in accordance with the Accounting Standard (AS) -28 issued by the Institute of Chartered Accountants of India. Based on the judgment of the Management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any of the assets.

10. The Company has not received information from Vendors regarding their status under micro, small and medium Enterprise Development Act, 2006 and hence disclosure relating to amount unpaid as at the year end together with interest paid / payable under this account have not been given.

11. Remuneration includes Rs.18 Lacs (P.Y. Rs. 17.90 lacs) paid to Managing Director.

Notes : (i) Figures in brackets are in respect of the previous year.

(ii) Sales includes Excise Duty, Sales Tax and Foreign Exchange Loss

(iii) Loss / Gain of goods and captive consumption during the year is adjusted in sales quantity.

(iv) Installed Capacities are as certified by management.

Note: Values are inclusive of incidental expenses like transport, freight etc.

12. Previous Years Figures have been regrouped / recast wherever necessary. Figure have been rounded of to the nearest rupee.