Gconnect Logitech and Supply Chain Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

i) Provisions, contingent Liabilities and contingent assets:

Provisions are recognised when the company has an obligation as a result of past events and it is probable
that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.
Provisions are measured at the best estimate of expenditure, that is required to settle the present obligation
at the balance sheet date and are not discounted to its present value.

Contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
occurrence or non-occurrence of one or more uncertain future events beyond the control of the company or
a present obligation that is not recognised because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a
liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize
a contingent liability but discloses its existence in the financial statements. When there is a possible
obligation or present obligation in respect of which the likelihood of outflow of resources is remote, no
provision or disclosure is made.

Contingent assets are not recognized or disclosed in the financial statements.

j) Tax on Income

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year.

Deferred tax assets and liabilities are recognised for the future tax consequences attributable to timing
differences between the accounting income as per the Company''s financial statements and the taxable
income for the period.

Deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using
the tax rates that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax assets other than unabsorbed depreciation and carry forward losses, are recognised only to the
extent there is reasonable certainty that the assets can be realised in future. When there is unabsorbed
depreciation or carried forward of losses under tax laws, deferred tax assets are recognised only if there is
virtual certainty that sufficient future taxable income will be available against which such deferred tax assets
can be realised.

Deferred tax assets are reviewed as at each Balance Sheet date and appropriately adjusted to reflect the
amount that is reasonably/virtually certain to be realised.

k) Operating Leases

Lease contracts that do not transfer substantially all the risks and benefits of ownership of the assets to the
Company are classified as operating lease. Where lease rentals are so structured that the rental outflow is
higher in the later periods of lease term, such lease rentals are recognised in the statement of profit and loss
on a straight line basis over the lease term. Other operating leases are recognised in the statement of profit
and loss as per the terms of the lease contract.

l) Earnings per share

The basic Earnings per share is calculated by dividing the Net profit after tax by weighted average number of
equity shares outstanding during the reporting period.

Gconnect Logitech IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for GConnect
Logitech IPO was finalized on Monday, April 1, 2024. The shares got listed on BSE SME on April 3, 2024. The shares were
alloted @ Rs. 40 per share (including premium of Rs. 30 per share). Object of the issue was purchase of commercial vehicles,
development of website and mobile application designing general corporate purpose and issue expenses. The company has
utilised the IPO proceeds as per the propectus filed and there was no deviation.

NOTE 23

Other significant notes

(i) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or suivey or any
other relevant provisions of the I ncome T ax Act, 1961).

(ii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the
Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Rese^e Bank of
India.

(iii) The Company does not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956.

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

(v) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(vi) The Company has not advanced any fund to any person or entity, including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the person or entity 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 on behalf of the Company,

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

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries); or

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

(viii) The Company has not entered into any scheme of arrangement which has an accounting impact on the current or previous
financial year.

Note 25: Post reporting date events

No adjusting or significant non-adjusting events have occurred between 31 March 2025 and the date of
authorisation of these Financial Statements.

Note 26 : Authorization of financial statements

The financial statements for the year ended 31 March 2025 were approved by the board of directors on 29 May 2025.

As per our report of even date

For NGST & Associates For Gconnect Logitech and Supply Chain Limited

Chartered Accountants
Firm Reg. No. 135159W

Bhupendra S Gandhi Jigar Sheth Vinod Sheth

Partner Managing Director Director

Mem. No. 122296 DIN - 09679044 DIN - 09679045

Place: Mumbai Place: Bhavnagar

Date: 29 May 2025 Date: 29 May 2025

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Mar 31, 2024

i) Provisions, contingent Liabilities and contingent assets:

Provisions are recognised when the company has an obligation as a result of past events and it is probable
that an outflow of resources will be required to settle the obligation and the amount can be reliably
estimated. Provisions are measured at the best estimate of expenditure, that is required to settle the
present obligation at the balance sheet date and are not discounted to its present value.

Contingent liability is a possible obligation that arises from past events whose existence will be confirmed
by occurrence or non-occurrence of one or more uncertain future events beyond the control of the
company or a present obligation that is not recognised because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases
where there is a liability that cannot be recognized because it cannot be measured reliably. The Company
does not recognize a contingent liability but discloses its existence in the financial statements. When there
is a possible obligation or present obligation in respect of which the likelihood of outflow of resources is
remote, no provision or disclosure is made.

Contingent assets are not recognized or disclosed in the financial statements.

j) Tax on Income

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year.

Deferred tax assets and liabilities are recognised for the future tax consequences attributable to timing
differences between the accounting income as per the Company’s financial statements and the taxable
income for the period.

Deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using
the tax rates that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax assets other than unabsorbed depreciation and carry forward losses, are recognised only to
the extent there is reasonable certainty that the assets can be realised in future. When there is unabsorbed
depreciation or carried forward of losses under tax laws, deferred tax assets are recognised only if there is
virtual certainty that sufficient future taxable income will be available against which such deferred tax
assets can be realised.

Deferred tax assets are reviewed as at each Balance Sheet date and appropriately adjusted to reflect the
amount that is reasonably/virtually certain to be realised.

k) Operating Leases

Lease contracts that do not transfer substantially all the risks and benefits of ownership of the assets to the
Company are classified as operating lease. Where lease rentals are so structured that the rental outflow is
higher in the later periods of lease term, such lease rentals are recognised in the statement of profit and
loss on a straight line basis over the lease term. Other operating leases are recognised in the statement of
profit and loss as per the terms of the lease contract.

l) Earnings per share

The basic Earnings per share is calculated by dividing the Net profit after tax by weighted average number
of equity shares outstanding during the reporting period.

Note 20 : Other significant notes

(i) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income
during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax
Act,1961).

(ii) The Company has not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the Companies Act,

2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

(iii) The Company does not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or Section 560 of
Companies Act, 1956.

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

(v) The Company have not traded or invested in Crypto currency orVirtual Currency during the financial year.

(vi) The Company has not advanced any fund to any person or entity, including foreign entities (Funding Party) with the understanding (whether recorded in writing
or otherwise)

(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 on behalf of the Company,

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

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries); or

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

(viii) The Company has not entered into any scheme of arrangement which has an accounting impact on the current or previous financial year.

Previous period figures are regrouped/ rearranged whereever necessary to confirm with current year''s presentation.

As per our report of even date

For NGST & Associates For Gconnect Logitech and Supply Chain Limited

Chartered Accountants
FRN 135159W

Jigar Sheth Vinod Sheth

Managing Director Chairman

DIN - 0009679044 DIN - 0009679045

Bhupendra S Gandhi
Partner

Mem. No. 122296 Haresh Vankani Ankita Malde

Chief Financial Officer Company Secretary

Place: Mumbai Place: Bhavnagar

Date: 30 May 2024 Date: 30 May 2024