Dar Credit & Capital Ltd. के अकाउंट के लिये नोट

Mar 31, 2026

1. The Company has undertaken an Initial Public Offering (IPO) of 42,76,000 Equity Shares of ^10 each fully paid at an issue price of ^60 per share, including a premium of ^50 per share. The equity shares have been allotted as per the categories mentioned in the Prospectus filed with the Registrar of Companies, and the allotment was done in accordance with the prescribed procedures.

2. During the year, the Company successfully completed the listing of its equity shares on the EMERGE Platform of the National Stock Exchange of India Limited (NSE EMERGE). Pursuant to the resolution passed by the Board of Directors, the entire issued, subscribed, and fully paid-up share capital comprising 1,42,76,000 equity shares of face value Rs. 10/- each has been listed on NSE EMERGE, in compliance with applicable laws, rules, and regulations, and after obtaining the requisite approvals from regulatory authorities.

(b) Terms/rights attached to equity shares:

1. The company has only one class of Equity Shares having a par value of ^ 10/- per share. Each holder of Equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity share will be entitled to receive remaining Assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the Shareholders after distribution of all preferential amount in proportion to their shares held.

2. The equity shares are not repayable except in the case of a buy back, reduction of capital or winding up in terms of the provisions of the Companies Act, 2013.

3. Every member of the company holding equity shares has a right to attend the General Meeting of the Company and has a right to speak and on a show of hands, has one vote if he is present in person and on a poll shall have the right to vote in proportion to his share of the paid-up capital of the company.

1. During the financial year ended 31st March,2026, the Company has undertaken Initial Public Offer (IPO) of equity shares.The total expenses incurred in connection with the IPO amounting to Rs.259.90 lakhs, (PY-Nil). These expenses primarily include Underwiting Fees, Professional Fees etc. and other incidental cost directly attributable to the IPO. In accordance with section 52 of the Companies Act,2013, and applicable accotuing principles the

Company has adjusted an amount of Rs.259.90 lakhs against Securities Premium Reserve being expenses directly attributable to IPO.

2. In Companies Act, 1956 it was mandatory to transfer the profit to general reserve before declaring dividend but first proviso to section - 123(1) of Companies Act, 2013 provides that it is the discretion of the company to transfer the profits to reserve at such rate as it deems fit before declaring dividend.

Secured

1. Term Loans from Banks

a) For Purchase of Vehicles

The loans has been secured by hypothecation of assets acquired out of the proceeds of loan. The payment is made on EMI and average interest rate on such loan is 13% p.a. The loan in this category shall be repaid in full by the end of financial year 2027-28.

b) Others

The loans has been secured by hypothecation of Debtors and Personal Guarantees of directors including lien on fixed deposits. The payment is made on EMI and average

4. Secured redeemable Debentures against Book debt

interest rate on such loans is 12.50%- 12.90% p.a. Most of the loan in this category shall be repaid in full by the end of year 5 year except for loan with Indian Overseas Bank which shall be repaid in full by the end of year 2028.

2. Term Loans from Others

The loans has been secured by hypothecation of Debtors and Personal Guarantees of directors. The payment is made on EMI and average interest rate on such loans is 14.50% p.a. Most of the loan in this category shall be repaid in full by the end of financial year 2026 -27.

3. Detailed annexure has been provided in the additional note at the end of the financials.

1) The Company has issued 1,000 secured, listed, redeemable, non-convertible debentures of ^1 lakh each, aggregating to ^1,000 lakh, carrying an interest rate of 12.00% per annum, redeemable at par during February 2027. These debentures are secured by an exclusive charge on the Company''s book debts. Interest on the debentures is payable on monthly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Services Limited.

2) The Company has issued 1,000 secured, listed, redeemable, non-convertible debentures of ^1 lakh each, aggregating to ^1,000 lakh, carrying an interest rate of 12.25% per annum, redeemable at par during December, 2027. These debentures are secured by an exclusive charge on the Company''s book debts. Interest on the debentures is payable on monthly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Services Limited.

3) The company has issued 175 secured, listed, redeemable, non- cumulative, non-convertible debentures, and of ^1 lakh each, aggregating to ^175 lakhs carrying an interest rate of 12% per annum, redeemable at par during February, 2029 Interest on debentures on quarterly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Services Limited.

4) The company has issued 1084 secured, listed, redeemable, non cumulative, and non-convertible debentures of ^1 lakh each, aggregating to ^1084 lakh, carrying an interest rate of 14% per annum, redeemable at par during February 2031. Interest on debentures is payable on quarterly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Limited.

5) The company has issued 600 secured, listed, redeemable, non cumulative, and non-convertible debentures of ^1 lakh each, aggregating to ^600 lakh, carrying an interest rate of 13% per annum, redeemable at par during March, 2029. Interest on debentures is payable on monthly basis .

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Limited.

6) The company has issued 15000 secured, listed, redeemable, non cumulative, and non-convertible debentures of ^10 thousand each, aggregating to ^1500 lakh, carrying an interest rate of 12.75% per annum, redeemable at par during September, 2028. Interest on debentures is payable on monthly basis .

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Limited.

7) The company has issued 691 secured, listed,

redeemable, cumulative, and non-convertible

debentures of ^1 lakh each, aggregating to ^691 lakhs, carrying an interest rate of 14% per annum,

redeemable at par during February, 2031. Interest on debentures is payable on quarterly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Services Limited.

8) The company has issued 50 secured, listed,

redeemable, cumulative, and non-convertible

debentures of ^1 lakh each, aggregating to ^50 lakhs, carrying an interest rate of 12% per annum,

redeemable at par during February, 2029. Interest on debentures is payable on quarterly basis.

The Debenture Trustee for the issue is Mitcon Credentia Trusteeship Services Limited.

9) The Company has issued 146 secured, listed, redeemable, non-convertible debentures of ^5 lakh each, aggregating to ^730 lakh, carrying an interest rate of 12.25% per annum, redeemable at par during February 2026. These debentures are secured by an exclusive charge on the Company''s book debts. Interest on the debentures is payable on quarterly basis. There has been no default in the repayment of principal or interest as at September 30, 2025.

The Debenture Trustee for the issue is IDBI Trusteeship Services Limited.

24.1 Details of Contingent Liabilities & Commitments					(Rs. in Lakhs)
Particulars		Year ended 2025-2026		Year ended 2024-2025
I. Contingent Liabilities
(a) Claims against the Company not acknowledged as debt;		-		-
(b) Guarantees excluding financial guarantees; and		-		-
(c) other money for which the company is contingently liable		478.81		591.71
* The above amount does not include interest accrued amount being Rs. 413.81 (in Lakhs) as appearing in the Income Tax portal.
II. Commitments
(a) Estimated amount of contracts remaining to be executed on capital account and not provided for		-		-
(b) Uncalled liability on shares and other investments partly paid		-		-
(c) other commitments		-		-
Total		478.81		591.71
In Income Tax, the following appeal has been filed by the Company against the Assessment Order of the Company, which is pending before Commissioner (Appeal- III):
Name of Statute	Nature of Dues		Amount in lakhs		Year to which the amount is
Income Tax Act 1961	Income Tax		0.50		2020-21

Name of Statute	Nature of Dues	Amount in lakhs	Year to which the amount is
Income Tax Act 1961	Income Tax	487.31	2017-18
Total		487.81	-

Note:

On 25th December 2019, for the assessment year 2017-18, order was issued for Rs 591.71 Lakhs against which the company has filed an appeal, Includes Outstanding Demand for the Assessment Year 2016 for Rs218346 out of which (Rs197730 is of interest and Rs20616 is Principle), Includes Outstanding Demand for the Assessment Year 2016 for Rs 2587390, Company has filed for rectification before the Income Tax Authority as the department errored in giving the credit of Taxes already paid and the matter is pending; Outstanding Demand for Assessment Year 2016 for Rs850; Outstanding Demand for the Assessment Year 2017 for Rs 81898616, out of which (Rs 27727786 is of interest and Rs 54170830 is Principle) an Appeal to the Commissioner of Income Tax has been made by filing Form-35 bearing application no. 291172351130120 and the Company has paid Rs 5000000 as pre-appeal deposit to the Income Tax Authority and the matter is pending for Adjudication. Demand for the Assessment Year 2022 for Rs 52000, Due to non-compliance for filing of PAN on Declaration of dividend.

VIII. The estimates of rate of salary increase considered in the actuarial valuation takes into account inflation, seniority, promotion and all other relevant factors including supply and demand in the employment market.

Note 24.5:

1. Directions of Reserve bank of India

The Company has followed the directions prescribed by Reserve Bank of India for Non-Banking Financial Companies

2. Dividend paid

The Board of Directors in its meeting held on 11th November, 2025, declared interim dividend of (5%) Rs.0.50 per equity share of face value of Rs.10 each fully paid up for the FY 2025-26 amounting to Rs.71.38 lakhs (gross) subject to deduction of tax at source as per the applicable rate (s) to all the eligible shareholders. The record date of payment of interim dividend was 21st November, 2025. The interim dividend was paid to the eligible members on 10th December, 2025. The Company has been paying dividend at the rate of 5% for the last consecutive six financial years.

5. Disclosure pursuant to RBI Notification - RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 dated 28th December, 2023

(a) The company has transferred through assignment any loans (not in default) in respect of financial year ended 31st March, 2026

(b) The company has not acquired any loans through assignment during the financial year ended 31st March, 2026

(c) The company has not transferred any stressed loans during the financial year ended 31st March, 2026

(d) The company has not acquired any stressed loans during the financial year ended 31st March, 2026

6. Note on Corporate Social Responsibility

(i) The amount required to be spent by the company during the year (1st April, 2025 - 31st March, 2026) in accordance with the provisions of section 135 of Companies Act, 2013, read with SCH-VII is Rs.11.67 lakhs, (PY-N il).

(ii) The amount of expenditure actually incurred by the company in respect to Corporate Social Responsibility during the period 1st April, 2025 to 31st March, 2026 was Rs 11.72 lakhs.

(iii) The company for the purpose of expenditure for CSR has engaged itself in the following activities - Education and skill building

projects, making available safe drinking water, measures for reducing inequalities faced by socially and economically backward groups, animal welfare, promoting healthcare including preventive healthcare, eradicating hunger, poverty and malnutrition.

7. Note on IND AS:

During the year 2020-21, the Company issued Redeemable Non-Convertible Debentures of face value of Rs. 5 Lakh each on private placement basis aggregating to a base issue size of Rs. 12.50 Crores and listed these securities on Debt Market (DM) of Bombay Stock Exchange (BSE). Refer Note 4 - Long Term Borrowings for details. In relation to the same, the Company has taken note of Rule 2A as inserted by "Companies (Specification of definition details) Second Amendment Rules, 2021" dated 19th February 2021 effective 1st April 2021, which states that "Private companies which have listed their non-convertible debt securities on private placement basis on a recognized stock exchange in ter of SEBI (Issue and Listing of Debt Securities) Regulations, 2008" shall not be regarded as listed companies. Considering the fact that the Company has no other securities listed except the aforementioned debt securities, and the relaxation provided by Ministry of Corporate Affairs (MCA) to such Companies, the Company has decided not to apply IndAS and rather continue using existing Accounting Standards while preparing its standalone/ consolidated financial statements.

8. Foreign Exchange Transactions

The company has no unhedged foreign currency exposures as per the NBFC regulation.

9. Other statutory information

(i) The company does not have any Benami property, where any proceedings has been initiated or pending against the company for

holding any Benami property under Benami Transactions (Prohibition) Act, 1988 and rules made thereunder

(ii) The company does not have any transactions with companies struck off during the year

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

(iv) The company has not traded or invested in Crypto currency or virtual currency during the period ended 31st March, 2026.

(v) During the period, Company has not advanced or loaned or invested funds to any person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) Or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

(vi) During the period ended 31st March, 2026, Company has not received funds from any person(s) or entity(ies), including foreign entities (intermediaries) with the understanding (whether recorded in writing or otherwise that the company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) Or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

(vii) The company has no such transactions which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act.

(viii) Previous year''s figures have been regrouped and reclassified, wherever necessary, to conform to current year''s classification.

(ix) During the financial year ended 31st March, 2026 the Company has not defaulted in utilising the borrowings from banks for the specific purpose for which the loans were sanctioned.

(x) No scheme of arrangement has been approved by the Competent Authority in terms of Sections 230 to 237 of the Companies Act, 2013 in respect of the Company during the financial year ended 31st March, 2026.

(xi) The Company has complied with the provisions of clause (87) of Section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017. The Company does not have any layer of companies beyond the permissible number as prescribed under the said rules during the financial year ended 31st March, 2026.

(xii) As per the information and explanations given by the management and based on the records examined by us, the Company has not been declared as a wilful defaulter by any bank, financial institution, or any other lender during the period ended 31st March, 2026.

(xiii) The company did not held any immovable property which is not disclosed during the year.

Note-1: The increase in current ratio during the year is primarily attributable to increase in current assets, indicating improved short-term liquidity position of the company

Note-2: The improvement in Debt Service Coverage Ratio is mainly due to increase in operating profitability.

Note-3: The decrease in return on investment is due to loss in investment.

11. Previous Year''s Figures

Previous year''s figure has been regrouped/rearranged/reclassified wherever considered necessary.

12. Rounding of the Figures of the financials

The Company has rounded off the figures of the financials nearest to Rupees in lakhs except the number of equity shares and except where otherwise stated.

Note 25: Schedule to the Balance Sheet of a Non-Banking Financial Company for period ended March 31, 2026

(As required in terms of Master Direction -Reserve Bank of India (Non-Banking Financial Companies - Financial Statements: Presentation and Disclosures) Directions, Amendment Direction, 2026)

RBI/2025-26/187 Master Direction No. DoR.CRE.REC.388/21.04.018/2025-26 Dated January 05, 2026

Note:

(a) The Gross Non-Performing Assets ("GNPA") and Net Non-Performing Assets ("NNPA") disclosed in these financial statements have been computed based on the Company''s loan records and asset classification in accordance with the prudential norms prescribed by the Reserve Bank of India. As these amounts are not reported as separate line items in the regulatory returns filed with the Reserve Bank of India, they are not directly traceable to any specific return. Further, as represented by the management, no assessment or inspection observations have been received from the Reserve Bank of India (in respect of points 2 and 5). Accordingly, the amounts disclosed under these points have been reconciled with and agree to the books of account.

(b) The provision for non-performing assets reported in the DNBS-02 return for March 2026, filed with the Reserve Bank of India based on unaudited financial information, was included under Other Current Liabilities at Rs. 182.40 lakhs. Upon finalization of the audited financial statements, the provision for non-performing assets has been determined at Rs. 122.03 lakhs and has been appropriately disclosed in these financial statements in accordance with the prudential norms prescribed by the Reserve Bank of India.

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Mar 31, 2025

_ _ Claims against the company are either paid or treated as liability if accepted by the company and are treated as contingent

9 Contingent Li3Dilities i .. ,

- - liability if disputed by the company.

Disclosure The company has a contingent liability of Rs.847.57(in lakhs) as per the order issued by the Income tax
department dated 25th Dec 2019, for the A.Y. 2017-18 against which the company has filed an appeal.

* Interest accrued on the same is Rs277.28 (in lakhs)

The gratuity liability has been determined based on the provision of Gratuity Act, 1972 and charged to Statement of Profit

10 Retirement Benefit . and Loss.

'' Contribution payable to the recognised provident fund which is defined contribution schemes, is charged to Profit and loss
account.

Borrowing costs are recognized as an expense in the period in which they are incurred, except when they are directly
attributable to the acquisition, construction, or production of a qualifying asset. Qualifying assets are those that require a
substantial period of time to prepare for their intended use or sale, and in such cases, the borrowing costs are capitalized as

11 Borrowing Costs : part of the cost of the asset.

Effective from mid-September, the company has revised its accounting policy to amortize loan processing costs. Due to the
impracticality of determining the retrospective effect, this change has been applied prospectively in accordance with the
applicable accounting standards.

A provision is recognised when the Company has a present obligation as a result of past event; it is probable that an
outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made.

12 Provisions : Provisions are not discounted to its present value and are determined based on best estimate required to settle the

obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the
current best estimates.

Basic earnings per equity share is computed by dividing profit or loss attributable to owners of the Company by the
weighted average number of equity shares outstanding during the financial year.

13 Earn in er 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 shares, and • the

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

Current Tax

The current charge for income is calculated in accordance with relevant tax regulations applicable to the company.

Deferred Tax

Deferred tax charge or benefit reflects the tax effects of timing differences between accounting income and taxable income

14 Taxes . f_or the year. The deferred tax charge or benefit and the corresponding deferred tax liabilities or assets are recognised using

the tax rates that have been enacted or substantially enacted by the balance sheet date. Deferred tax assets are recognised
only to the extent the is reasonable certainty that the assets can be realised in future; however, where there is unabsorbed
depreciation or carry forward of losses, deferred tax assets are recognised only if there is virtual certainty of realisation of
such assets. Deferred tax assets are reviewed at each balance sheet date and written- down or written-up to reflect the
amount that is reasonably/virtually certain to be realised.

Costs relating to acquisition and development of computer software are capitalised in accordance with the

Intangible assets and

15 amortisation thereof '' ^S-26 ‘Intangible Assets’ and are amortised using the straight line method over a period of five years, which is the

- Management’s estimate of its useful life.

. . . _ . _ Provision for Standard Assets / Substandard Assets / Doubtful Assets / Loss Assets has been made in compliance with the

_s[°^V''^SI0.ⁿ/ °^r—i_tf m"-" . directions of Reserve Bank of India. As per the RBI/DoR/2023-24/106 Master Direction No.

¹⁶ Assets ^P°^{UbtfU L}°^SS 1 Dor.FIN.REC.No.45/03.10.119/2023-24 dated 19th October 2023 (updated as on May 05th, 2025) Company has made

- general provision of 0.25% of Standard Assets. Other directives of Reserve Bank of India have been duly complied with.

Note:

1) Terms/Rights attached to Equity Shares: The company has only one class of Equity Shares having a par value of? 10/- per share. Each holder of Equity share
is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity share will be entitled to receive remaining Assets of the
Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the Share holders.

2) The equity shares are not repayable except in the case of a buy back, reduction of capital or winding up in terms of the provisions of the Companies Act, 2013.

3) Every member of the company holding equity shares has a right to attend the General Meeting of the Company and has a right to speak and on a show of
hands, has one vote if he is present in person and on a poll shall have the right to vote in proportion to his share of the paid-up capital of the company.

Note:

1. In Companies Act, 2013, it was mandatory to transfer the profit to general reserve before declaring dividend but first
proviso to section - 123(1) of Companies Act, 2013 provides that it is the discretion of the company to transfer the
profits to reserve at such rate as it deems fit before declaring dividend. (In PY, 31st March, 2025 Rs. 1 crores, was
transfered to General Reserve).

2. Dividend proposed for the FY 2024-25 and paid in the FY 2025-26 Rs. 0.50 per equity share, totalling to Rs.50 Lakhs.

Note:

Secured

1. Term Loans from Banks

a) For Purchase of Vehicles

The loans has been secured by hypothecation of assets acquired out of the proceeds of loan. The payment is made on
EMI and average interest rate on such loan is 13% p.a. The loan in this category shall be repaid in full by the end of year
2025.

b) Others

The loans has been secured by hypothecation of Debtors and Personal Guarantees. The payment is made on EMI and
average interest rate on such loans is 12.50%-12.90% p.a. Most of the loan in this category shall be repaid in full by the
end of year 5 year except for loan with Punjab National Bank (United Bank of India) & Indian Overseas Bank which
shall be repaid in full by the end of year 2025 & 2028 respectively.

2. Term Loans from Others

The loans has been secured by hypothecation of Debtors and Personal Guarantees. The payment is made on EMI and
average interest rate on such loans is 14.50% p.a. Most of the loan in this category shall be repaid in full by the end of
year 2025.

Note:

Secured

1. Cash Credit

The loan has been secured by hypothecation of Book Debts, Immovable Assets & FD. An average interest rate charged
by bank on such loan is 10.64% p.a.

2. Bank Overdraft

The loan has been secured by hypothecation of FD. An average interest rate charged by bank on such loan is 7.09%
p.a.

Unsecured

3. From Inter Corporates

The loan has been unsecured and is repayable in 12 months. An average interest rate charged on such loan is 15% p.a.

For KASG & Co. For and on behalf of the Board

Chartered Accountants DAR Credit and Capital Limited

Firm Regn. No.: 002228C

Ramesh Kumar VIJay Jayanta Banlk

(Chairman and Director) (CEO)

DIN - 00658473

Roshan Kumar Bajaj
Membership No.: 068523

UDIN: 25068523BMIWMF3193 Saket Saraf Priya Kumari

Place: Kolkata (CFO) (Company Secretary)

Date: 29''" May 2025