JITF Infralogistics Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

25.3.13 Provisions and contingencies
Provisions

Provisions are 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 the
obligation. Provisions are not recognised for future operating losses.

Provisions are 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. The discount rate
used to determine the present value is a pre-tax rate that reflects current market assessments
of the time value of money and the risks specific to the liability. The increase in the provision due
to the passage of time is recognised as interest expense.

Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising from past events,
the existence of which will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Company or a present obligation
that arises from past events where it is either not probable that an outflow of resources will
be required to settle or a reliable estimate of the amount cannot be made. Information on
contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are
not recognised. However, when the realisation of income is virtually certain, then the related
asset is no longer a contingent asset, but it is recognised as an asset.

25.3.14 Investment in Subsidiaries

A subsidiary is an entity controlled by the Company. Control exists when the Company has
power over the entity, is exposed, or has rights to variable returns from its involvement with the
entity and has the ability to affect those returns by using its power over entity.

Power is demonstrated through existing rights that give the ability to direct relevant activities,
those which significantly affect the entity''s returns.

Investments in subsidiaries are carried at cost. The cost comprises price paid to acquire
investment and directly attributable cost.

25.3.15 Current versus non-current classification

The Company presents assets and liabilities in statement of financial position based on current/
non-current classification.

The Company has presented non-current assets and current assets before equity, non-current
liabilities and current liabilities in accordance with Schedule III, Division II of Companies Act,
2013 notified by MCA.

An asset is classified as current when it is:

a) Expected to be realised or intended to be sold or consumed in normal operating cycle,

b) Held primarily for the purpose of trading,

c) Expected to be realised within twelve months after the reporting period, or

d) 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:

a) It is expected to be settled in normal operating cycle,

b) It is held primarily for the purpose of trading,

c) It is due to be settled within twelve months after the reporting period, or

d) 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 or cash equivalents.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

25.3.16 Compound financial instruments

The liability component of a compound financial instrument is recognised initially at fair value of
a similar liability that does not have an equity component. The equity component is recognised
initially as the difference between the fair value of the compound financial instrument as a
whole and the fair value of the liability component. Any directly attributable transaction costs
are allocated to the liability and the equity components, if material, in proportion to their initial
carrying amounts.

Subsequent to the initial recognition, the liability component of a compound financial instrument
is measured at amortised cost using the effective interest rate method. The equity component
of a compound financial instrument is not re-measured subsequent to initial recognition except
on conversion or expiry.

25.3.17 Leases

As per Ind AS 116, leases, the arrangement is, or contains, a lease if fulfilment of the arrangement
is dependent on the use of a specific asset or assets and the arrangement conveys a right to
use the asset or assets for a period of time in exchange for consideration, even if that right is
not explicitly specified in an arrangement.

Lease accounting by lessee

Company as lessee will measure the right-of-use asset at cost by recognition a right-of-use
asset and a lease liability on initial measurement of the right-of-use asset at the commencement
date of the lease.

The cost of the right-of-use asset will comprise:

- the amount of the initial measurement of the lease liability,

- any lease payments made at or before the commencement date less any incentives
received,

- any initial direct costs incurred

- an estimate of costs to be incurred in dismantling and removing the underlying asset,
restoring the site on which it is located or restoring the underlying asset to the condition
required by the terms and conditions of the lease, unless those costs are incurred to
produce inventories.

Lease liability will be initially measured at the present value of the lease payments that are not
paid at that date. The lease payments are discounted using the interest rate implicit in the lease,
if the rate cannot be readily determined incremental borrowing rate will be considered. Interest
on lease liability in each period during the lease will be the amount that produces a constant
periodic rate of interest on the remaining balance of the lease liability.

Lease payments will comprise the following payments for the right to use the underlying asset
during the lease term that are not paid at the commencement date:

- fixed payments less any lease incentives receivable

- variable lease payments

- amounts expected to be payable under residual value guarantees

- the exercise price of a purchase option, if the Company is reasonably certain to exercise
that option

- payments of penalties for terminating the lease, if the lease term reflects the Company
exercising an option to terminate the lease.

Subsequent measurement of the right-of-use asset after the commencement date will be at
cost model, the value of right-of-use asset will be initially measured cost less accumulated
depreciation and any accumulated impairment loss and adjustment for any re-measurement of
the lease liability.

The right-of-use asset will be depreciated from the commencement date to the earlier of the
end of the useful life of the asset or the end of lease term, unless lease transfers ownership of
the underlying asset to the Company by the end of the lease term or if the cost of the right-of-
asset reflects that the Company will exercise a purchase option, in such case the Company will
depreciate asset to the end of the useful life.

Subsequent measurement of the lease liability after the commencement date will reflect the
initially measured liability increased by interest on lease liability, reduced by lease payments and
re-measuring the carrying amount to reflect any re-assessment or lease modification.
Right-of-use asset and lease liability are presented on the face of balance sheet. Depreciation
charge on right-to-use is presented under depreciation expense as a separate line item. Interest
charge on lease liability is presented under finance cost as a separate line item. Under the cash
flow statement, cash flow from lease payments including interest are presented under financing
activities. Short-term lease payments, payments for leases of low-value assets and variable
lease payments that are not included in the measurement of the lease liabilities are presented
as cash flows from operating activities.

The Company has elected to adopt the practical expedient not to account for short term leases
or leases for which the underlying asset is of low value, as right-of-use assets. Company will
recognise these lease payments associated with those leases as an expense on either a
straight-line basis over the lease term or another systematic basis.

Lease accounting by lessor

Company as a lessor need to classify each of its leases either as an operating lease or a finance
lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewards
incidental to ownership of an underlying asset. A lease is classified as an operating lease if it
does not transfer substantially all the risks and rewards incidental to ownership of an underlying
asset.

Finance lease

At the commencement date, will recognise assets held under a finance lease in its balance
sheet and present them as a receivable at an amount equal to the net investment in the lease.
Net investment is the discount value of lease receipts net of initial direct costs using the interest
rate implicit in the lease. For subsequent measurement of finance leased assets, the Company
will recognise interest income over the lease period, based on a pattern reflecting a constant
periodic rate of return on the Company''s net investment in the lease.

Operating lease

Company will recognise lease receipts from operating leases as income on either a straight¬
line basis or another systematic basis. Company will recognise costs, including depreciation
incurred in earning the lease income as expense.

25.3.18 New and amended standards notified by the Ministry of Corporate Affairs

The Ministry of Corporate Affairs vide notification dated 9 September 2024 and 28 September
2024 notified the Companies (Indian Accounting Standards) Second Amendment Rules, 2024
and Companies (Indian Accounting Standards) Third Amendment Rules, 2024, respectively,
which amended/notified certain accounting standards (see below), and are effective for annual
reporting periods beginning on or after 1 April 2024:

Insurance contracts - Ind AS 117; and

• Lease Liability in Sale and Leaseback - Amendments to Ind AS 116

• These amendments did not have any impact on the amounts recognised in current or prior
period.

25.4. Critical accounting estimates, assumptions, and judgements

In the process of applying the Company''s accounting policies, management has made the
following estimates, assumptions and judgements, which have significant effect on the amounts
recognised in the financial statement:

(a) Property, plant and equipment

External adviser or internal technical team assess the remaining useful lives and residual
value of property, plant and equipment. Management believes that the assigned useful
lives and residual value are reasonable, the estimates and assumptions made to determine
depreciation are critical to the Company''s financial position and performance.

(b) Intangibles

Internal technical or user team assess the remaining useful lives of Intangible assets.
Management believes that assigned useful lives are reasonable.

(c) Income taxes

Management judgment is required for the calculation of provision for income taxes and
deferred tax assets and liabilities. The Company reviews at each balance sheet date the
carrying amount of deferred tax assets. The factors used in estimates may differ from
actual outcome which could lead to significant adjustment to the amounts reported in the
standalone financial statements.

(d) Contingencies

Management judgement is required for estimating the possible outflow of resources, if any,
in respect of contingencies/claim/litigations against the Company as it is not possible to
predict the outcome of pending matters with accuracy.

25.5. Financial risk management
Financial risk factors

The Company''s principal financial liabilities, comprise borrowings, trade and other payables. The
main purpose of these financial liabilities is to manage finances for the Company''s operations.
The Company has trade and other receivables, and cash and short-term deposits that arise
directly from its operations. The Company''s activities expose it to a variety of financial risks:

i) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of changes in market prices. Market prices comprise three types
of risk: currency rate risk, interest rate risk and other price risks, such as equity price
risk and commodity risk. Financial instruments affected by market risk include loans and
borrowings, deposits, investments, and derivative financial instruments. Foreign currency
risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates. Interest rate risk is the risk that the fair
value or future cash flows of a financial instrument will fluctuate because of changes in
market interest rates. This is based on the financial assets and financial liabilities held as
of March 31,2025 and March 31, 2024.

ii) Credit risk

Credit risk is the risk that a counter party will not meet its obligations under a financial
instrument or customer contract, leading to a financial loss.

iii) Liquidity risk.

Liquidity risk is the risk that the Company may not be able to meet its present and future
cash and collateral obligations without incurring unacceptable losses.

Risk management is carried out by the treasury department under policies approved by
the board of directors. The treasury team identifies, evaluates and hedges financial risks
in close co-operation with the Company''s operating units. The board provides principles
for overall risk management, as well as policies covering specific areas, such as foreign
exchange risk, interest rate risk, and credit risk, use of derivative financial instruments and
non-derivative financial instruments, and investment of excess liquidity.

Market Risk

The sensitivity analysis excludes the impact of movements in market variables on the carrying
value of post-employment benefit obligations provisions and on the non-financial assets and
liabilities. The sensitivity of the relevant Statement of Profit and Loss item is the effect of the
assumed changes in the respective market risks. The Company''s activities expose it to a variety
of financial risks, including the effects of changes in foreign currency exchange rates and
interest rates.

(a) Foreign exchange risk and sensitivity

The Company has no foreign currency trade payables and receivable outstanding as on
31st March, 2025 and is therefore, not exposed to foreign exchange risk.

Liquidity risk

The Company''s objective is to; at all times maintain optimum levels of liquidity to meet its cash
and collateral requirements.. In case of temporary short fall in liquidity to repay the borrowing/
operational short fall , the company uses mix of capital infusion and borrowing from its group
company. However, the company envisage that such short fall is temporary and the company
would generate sufficient cash flows as per approved projections.

The table below provides undiscounted cash flows towards non-derivative financial liabilities
into relevant maturity based on the remaining period at the balance sheet to the contractual

mati iritv rlatp /=* i___\

capital to shareholders or issue new shares. The primary objective of the Company''s capital
management is to maximize the shareholder value. The Company''s primary objective when
managing capital is to ensure that it maintains an efficient capital structure and healthy capital
ratios and safeguard the Company''s ability to continue as a going concern in order to support
its business and provide maximum returns for shareholders. The Company also proposes to
maintain an optimal capital structure to reduce the cost of capital. No changes were made in the
objectives, policies or processes during the year ended March 31,2025 and March 31, 2024.
For the purpose of the Company''s capital management, capital includes issued capital, share
premium and all other equity reserves. Net debt includes, interest bearing loans and borrowings,
trade and other payables less cash and short term deposits, excluding discontinued operations.
The Company monitors capital using a gearing ratio, which is net debt divided by total capital.
Net debt is calculated as loans and borrowings less cash and cash equivalents.

Fair Valuation techniques

The Company maintains policies and procedures to value financial assets or financial liabilities
using the best and most relevant data available. The fair values of the financial assets and
liabilities are included at the amount 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.

The following methods and assumptions were used to estimate the fair values:

1) Fair value of cash and other current financial assets and liabilities approximate their
carrying amounts largely due to the short-term maturities of these instruments.

2) Long-term fixed-rate borrowings are evaluated by the Company based on parameters
such as interest rates, specific country risk factors, credit risk and other risk characteristics.
Fair value of variable interest rate borrowings is not material different from carrying values.
For fixed interest rate borrowing fair value is determined by using the discounted cash flow
(DCF) method using discount rate that reflects the issuer''s borrowings rate. Risk of non¬
performance for the company is considered to be insignificant in valuation.

Financial guarantees issued by the Company on behalf of its subsidiary companies have been
measured through profit and loss account. Fair value of said guarantees as at March 31, 2025
is considered Rs. Nil (March 31,2024- Nil) based on valuation carried by independent valuer.
Fair Value hierarchy

The following table provides the fair value measurement hierarchy of Company''s asset and
liabilities, grouped into Level 1 to Level 3 as described below:

• Quoted prices / published NAV (unadjusted) in active markets for identical assets or
liabilities (level 1). It includes fair value of financial instruments traded in active markets
and are based on quoted market prices at the balance sheet date and financial instruments
like mutual funds for which net assets value( NAV) is published mutual fund operators at
the balance sheet date.

• Inputs other than quoted prices included within level 1 that are observable for the asset
or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level
2). It includes fair value of the financial instruments that are not traded in an active market
(for example, over-the-counter derivatives) is determined by using valuation techniques.
These valuation techniques maximise the use of observable market data where it is
available and rely as little as possible on the company specific estimates. If all significant
inputs required to fair value an instrument are observable. Derivatives included interest
rate swaps and foreign currency forwards.

• Inputs for the asset or liability that are not based on observable market data (that is,
unobservable inputs) (level 3). If one or more of the significant inputs is not based on
observable market data, the instrument is included in level 3.

-Gratuity is in the nature of defined benefit plan, Re-measurement gains/(losses) on defined
benefit plans is shown under OCI as Items that will not be reclassified to profit or loss and also
the income tax effect on the same.

-Leave encashment cost is in the nature of short term employee benefits.

Presentation in Statement of Profit and Loss and Balance Sheet

Expense for service cost, net interest on net defined benefit liability (asset) is charged to
Statement of Profit and Loss.

IND AS 19 do not require segregation of provision in current and non-current, however net
defined liability (Assets) is shown as current and non-current provision in balance sheet as per
IND AS 1.

Actuarial liability for short term benefits (leave encashment cost) is shown as current and non¬
current provision in balance sheet.

When there is surplus in defined benefit plan, company is required to measure the net defined
benefit asset at the lower of; the surplus in the defined benefit plan and the assets ceiling,
determined using the discount rate specified, i.e. market yield at the end of the reporting period
on government bonds, this is applicable for domestic companies, foreign company can use
corporate bonds rate.

The Company assesses these assumptions with its projected long-term plans of growth and
prevalent industry standards. The mortality rates used are as published by one of the leading
life insurance companies in India.

25.17(A) During the company has transferred Rs 1.09 lakhs (Sale proceed from fractional shares) to

Investor education and protection fund on completion of 7 years.

25.18. Additional Regulatory Information:

i. The company does not have any immovable property wherein reporting requirement with
respect to title deed of immovable properties is applicable.

ii. The Company has not revalued its Property, Plant and Equipment as defined under rule 2
of the Companies (Registered Valuers and Valuation) Rules, 217 during the year 2024-25
and 2023-24.

iii. The Company has not taken loan from banks or financial institutions on the basis of
security of current assets.

iv. The company has not granted any loan to promoters, directors, KMPs and the related
parties (as defined under Companies Act, 2013), either severally or jointly with any other
person.

v. No proceedings have been initiated or pending against the company under the Prohibition
of Benami Property Transactions Act 1988 (as amended in 2016) formerly Benami
Transactions (Prohibition) Act, 1988) and the rules made thereunder.

vi. Company is not declared willful defaulter by any bank or financial institution or other
lender.

vii. The company does not have any transaction with companies which are struck off except
the following:

xi. The company has not advanced or loaned or invested funds to any other person(s) or
entity(ies), including foreign entities (Intermediaries) with the understanding that the
Intermediary shall:

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

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
The company has not received any fund from any person(s) or entity(ies), including foreign
entities (Funding Party) with the understanding (whether recorded in writing or otherwise)
that the group 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)

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries

xii. No income has been surrendered or disclosed for which transaction was 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.

xiii. During the year, the Company doesn''t fulfil the threshold limit criteria covered under
section 135 of the Companies Act, 2013. Therefore, the provision related to Corporate
Social Responsibility is not applicable to the company.

xiv. There is no transaction related to Crypto Currency or Virtual Currency during the current
or previous year.

25.19. Compliance with audit trail for accounting software

The Company is using an ERP which is widely used internationally. The ERP software is having
an audit trail feature for maintaining its books of account.

The Company enabled audit trail in all the tables throughout the year except:-

a) On certain tables for specific access, audit trail feature was not enabled for a part of the
year; and

b) As per the ERP provider, though system administrator can use this id, an audit trail for
command executed by system administrator is not available at database level. To mitigate
this, the Company implemented a customised solution that allows to check if system
administrator has logged in through this user id, the command executed and final modified
values.

25.20. During the year company has shifted its registered office from Office No. A-1, UPSIDC Industrial
Area,Nandgaon Road,Kosi Kalan,District Mathura, 281403 (U.P.) India to A-11 (7), Udya
Society, Sector-3, Tatibandh, Raipur, Dharsiwa, Chattisgarh, India, 492099 w.e.f 03rd May 2024.
Since company has changed its registered office from state of Uttar Pradesh to the Chattisgarh,
outside the jurisdiction of Existing RoC ROC Kanpur to ROC Chattisgarh, its existing CIN
L60231UP2008PLC069245 has been changed, and new CIN L60231CT2008PLC016434 has
been alloted within jurisdiction of ROC Chattisgarh

25.21. The financial statements were approved and adopted by the Board of directors of the Company
in their meeting dated 26th May,2025 and are subject to shareholder approval at the forthcoming
Annual General Meeting of shareholders.

25.22. Previous year figures have been regrouped/ rearranged wherever considered necessary to
confirm to current year''s classification.

As per our report of even date attached

For Lodha & Co. LLP For and on behalf of the Board of Directors of

Chartered Accountants JITF Infralogistics Limited

Firm Registration No. 301051E/E300284

Amarendra Kumar Sinha Pranay Kumar

Whole Time Director Director

Gaurav Lodha DIN - 08190565 DIN - 01262847

Partner

M.No.507462 Alok Kumar Manoj Kumar Agarwal

Place : New Delhi Company Secretary Chief Financial Officer

Date : 26^th May, 2025 M No. A-19819

---

Mar 31, 2024

Liquidity risk

The Company''s objective is to; at all times maintain optimum levels of liquidity to meet its cash and collateral requirements.. In case of temporary short fall in liquidity to repay the borrowing/ operational short fall , the company uses mix of capital infusion and borrowing from its group company. However, the company envisage that such short fall is temporary and the company would generate sufficient cash flows as per approved projections.

The table below provides undiscounted cash flows towards non-derivative financial liabilities into relevant maturity based on the remaining period at the balance sheet to the contractual maturity date. ('' Lacs)

Capital risk management

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The primary objective of the Company''s capital management is to maximize the shareholder value. The Company''s primary objective when managing capital is to ensure that it maintains an efficient capital structure and healthy capital ratios and safeguard the Company''s ability to continue as a going concern in order to support its business and provide maximum returns for shareholders. The Company also proposes to maintain an optimal capital structure to reduce the cost of capital. No changes were made in the objectives, policies or processes during the year ended March 31,2024 and March 31, 2023.

For the purpose of the Company''s capital management, capital includes issued capital, share premium and all other equity reserves. Net debt includes, interest bearing loans and borrowings, trade and other payables less cash and short term deposits, excluding discontinued operations. The Company monitors capital using a gearing ratio, which is net debt divided by total capital. Net debt is calculated as loans and borrowings less cash and cash equivalents.

The Gearing ratio for FY 2023-24 and 2022-23 is an under:-		('' Lacs)
Particulars	As of	As of
	March 31,2024	March 31,2023
Loans and borrowings	97.69	113.23
Less: cash and cash equivalents	30.15	30.68
Net debt	67.54	82.55
Total capital	32,042.76	32,024.62
Capital and net debt	32110.30	32,107.17
Gearing ratio	0.21%	0.26%

24.6. Fair value of financial assets and liabilities

Set out below is a comparison by class of the carrying amounts and fair value of the Company''s financial instruments that are recognised in the financial statements ('' Lacs)

	As At March 31,2024		As At March 31, 2023
Particulars	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Financial assets designated at amortized cost Cash and bank balances	30.15	30.15	30.68	30.68
Other Bank balances	1.11	1.11	1.11	1.11
Trade receivables	27.93	27.93	45.25	45.25
Total	59.19	59.19	77.04	77.04
Financial liabilities designated at amortized cost Borrowings- Floating	97.69	97.69	113.23	113.23
Trade and other payables	-	-	-	-
Other financial liabilities	16.53	16.53	22.92	22.92
Total	114.22	114.22	136.15	136.15

Fair Valuation techniques

The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data available. The fair values of the financial assets and liabilities are included at the amount 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.

The following methods and assumptions were used to estimate the fair values:

1) Fair value of cash and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

2) Long-term fixed-rate borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, credit risk and other risk characteristics. Fair value of variable interest rate borrowings is not material different from carrying values. For fixed interest rate borrowing fair value is determined by using the discounted cash flow (DCF) method using discount rate that reflects the issuer''s borrowings rate. Risk of nonperformance for the company is considered to be insignificant in valuation.

Financial guarantees issued by the Company on behalf of its subsidiary companies have been measured through profit and loss account. Fair value of said guarantees as at March 31, 2024 is considered Rs. Nil (March 31,2023- Nil) based on valuation carried by independent valuer. Fair Value hierarchy

The following table provides the fair value measurement hierarchy of Company''s asset and liabilities, grouped into Level 1 to Level 3 as described below:

• Quoted prices / published NAV (unadjusted) in active markets for identical assets or liabilities (level 1). It includes fair value of financial instruments traded in active markets and are based on quoted market prices at the balance sheet date and financial instruments like mutual funds for which net assets value( NAV) is published mutual fund operators at the balance sheet date.

• Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). It includes fair value of the financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on the company specific estimates. If all significant inputs required to fair value an instrument are observable. Derivatives included interest rate swaps and foreign currency forwards.

• Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

During the year ended March 31, 2024 and March 31,2023, there were no transfers between Level 1 and Level 2 fair value measurements, and no transfer into and out of Level 3 fair value measurements.

Following table describes the valuation techniques used and key inputs to valuation within level 2 and 3, and quantitative information about significant unobservable inputs for fair value measurements within Level 3 of the fair value hierarchy as at March 31, 2023 and March 31, 2022, respectively:

-Gratuity is in the nature of defined benefit plan, Re-measurement gains/(losses) on defined benefit plans is shown under OCI as Items that will not be reclassified to profit or loss and also the income tax effect on the same.

-Leave encashment cost is in the nature of short term employee benefits.

Presentation in Statement of Profit and Loss and Balance Sheet

Expense for service cost, net interest on net defined benefit liability (asset) is charged to Statement of Profit and Loss.

IND AS 19 do not require segregation of provision in current and non-current, however net defined liability (Assets) is shown as current and non-current provision in balance sheet as per IND AS 1.

Actuarial liability for short term benefits (leave encashment cost) is shown as current and noncurrent provision in balance sheet.

When there is surplus in defined benefit plan, company is required to measure the net defined benefit asset at the lower of; the surplus in the defined benefit plan and the assets ceiling, determined using the discount rate specified, i.e. market yield at the end of the reporting period on government bonds, this is applicable for domestic companies, foreign company can use corporate bonds rate.

The Company assesses these assumptions with its projected long-term plans of growth and prevalent industry standards. The mortality rates used are as published by one of the leading life insurance companies in India.

24.11. Related party transactions

In accordance with the requirements of IND AS 24, related party disclosures, name of the related party, related party relationship, transactions and outstanding balances including commitments where control exits and with whom transactions have taken place during reported periods, are provided below:-

The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year.

24.17. During the year company has paid a settlement amount of Rs 9.14 lacs pursuant to SEBI order dated December 1 2023 under the provisions of SEBI (Settlement Proceedings) Regulations, 2018, in relation to historic inadvertent misclassification of certain promoter group entities as public shareholders for the period from February 2017 to June 2018.

24.18. Additional Regulatory Information:

i. The company does not have any immovable property wherein reporting requirement with respect to title deed of immovable properties is applicable.

ii. The Company has not revalued its Property, Plant and Equipment as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 217 during the year 2023-24 and 2022-23.

iii. The Company has not taken loan from banks or financial institutions on the basis of security of current assets.

iv. The company has not granted any loan to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.

v. No proceedings have been initiated or pending against the company under the Prohibition of Benami Property Transactions Act 1988 (as amended in 2016) formerly Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

vi. Company is not declared willful defaulter by any bank or financial institution or other lender.

vii. The company does not have any transaction with companies which are struck off except the following

viii. The Company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

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

x. No Scheme of Arrangements has been approved by the Competent Authority in terms of Section 230 to 237 of the Companies Act, 2013.

xi. The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

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

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries. The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the group 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)

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries

xii. No income has been surrendered or disclosed for which transaction was 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.

xiii. During the year, the Company doesn''t fulfil the threshold limit criteria covered under section 135 of the Companies Act, 2013. Therefore, the provision related to Corporate Social Responsibility is not applicable to the company.

xiv. There is no transaction related to Crypto Currency or Virtual Currency during the current or previous year.

24.19. Compliance with audit trail for accounting software

The Company is using an ERP which is widely used internationally. The ERP software is having an audit trail feature for maintaining its books of account.

The Company enabled audit trail in all the tables throughout the year except: -

a) On some of the tables, audit trail feature enabled during the year.

b) On certain tables for specific access, audit trail feature has not been enabled as per the advise of ERP provider as it would result into considerable degradation of performance.

c) On database for a specific standard default user used by the ERP itself, due to performance related issue. As per ERP provider though system administrator can use this id, an audit trail for command executed by system administrator is not available. To mitigate this, Company implemented a customised solution that allows to check if system administrator has logged in through this user id, the command executed and final modified values. It was implemented towards the end of the year.

24.20. The Financial statement were approved and adopted by Board of directors of the Company in their meeting dated 30th May, 2024 and are subject to shareholder approval at the forthcoming Annual General meeting of shareholders.

---

Mar 31, 2023

i) Liquidity risk.

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses.

Risk management is carried out by the treasury department under policies approved by the board of directors. The treasury team identifies, evaluates and hedges financial risks in close co-operation with the Company''s operating units. The board provides principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, and credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.

Market Risk

The sensitivity analysis excludes the impact of movements in market variables on the carrying value of post-employment benefit obligations provisions and on the non-financial assets and liabilities. The sensitivity of the relevant Statement of Profit and Loss item is the effect of the assumed changes in the respective market risks. The Company''s activities expose it to a variety of financial risks, including the effects of changes in foreign currency exchange rates and interest rates.

(a) Foreign exchange risk and sensitivity

The Company has no foreign currency trade payables and receivable outstanding as on 31^st March, 2023 and is therefore, not exposed to foreign exchange risk.

(b) Interest rate risk and sensitivity

The Comapny''s exposure to the risk of changes in market interest rates relates primarily to long term debt.

The Company''s objective is to; at all times maintain optimum levels of liquidity to meet its cash and collateral requirements.. In case of temporary short fall in liquidity to repay the borrowing/ operational short fall , the company uses mix of capital infusion and borrowing from its group company. However, the company envisage that such short fall is temporary and the company would generate sufficient cash flows as per approved projections.

Capital risk management

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The primary objective of the Company''s capital management is to maximize the shareholder value. The Company''s primary objective when managing capital is to ensure that it maintains an efficient capital structure and healthy capital ratios and safeguard the Company''s ability to continue as a going concern in order to support its business and provide maximum returns for shareholders. The Company also proposes to maintain an optimal capital structure to reduce the cost of capital. No changes were made in the objectives, policies or processes during the year ended March 31,2023 and March 31, 2022. For the purpose of the Company''s capital management, capital includes issued capital, share premium and all other equity reserves. Net debt includes, interest bearing loans and borrowings, trade and other payables less cash and short term deposits, excluding discontinued operations. The Company monitors capital using a gearing ratio, which is net debt divided by total capital. Net debt is calculated as loans and borrowings less cash and cash equivalents.

Fair Valuation techniques

The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data available. The fair values of the financial assets and liabilities are included at the amount 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.

The following methods and assumptions were used to estimate the fair values:

1) Fair value of cash and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

2) Long-term fixed-rate borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, credit risk and other risk characteristics. Fair value of variable interest rate borrowings is not material different from carrying values. For fixed interest rate borrowing fair value is determined by using the discounted cash flow (DCF) method using discount rate that reflects the issuer''s borrowings rate. Risk of nonperformance for the company is considered to be insignificant in valuation.

Fair Value hierarchy

The following table provides the fair value measurement hierarchy of Company''s asset and liabilities, grouped into Level 1 to Level 3 as described below:

Fair Valuation of Financial Guarantees:

Financial guarantees issued by the Company on behalf of its subsidiary companies have been measured through profit and loss account. Fair value of said guarantees as at March 31,2023 is considered Rs. Nil (March 31,2022- Nil) based on valuation carried by independent valuer.

• Quoted prices / published NAV (unadjusted) in active markets for identical assets or liabilities (level 1). It includes fair value of financial instruments traded in active markets and are based on quoted market prices at the balance sheet date and financial instruments like mutual funds for which net assets value( NAV) is published mutual fund operators at the balance sheet date.

• Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). It includes fair value of the financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on the company specific estimates. If all significant inputs required to fair value an instrument are observable. Derivatives included interest rate swaps and foreign currency forwards.

• Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

During the year ended March 31, 2023 and March 31,2022, there were no transfers between Level 1 and Level 2 fair value measurements, and no transfer into and out of Level 3 fair value measurements.

Following table describes the valuation techniques used and key inputs to valuation within level 2 and 3, and quantitative information about significant unobservable inputs for fair value measurements within Level 3 of the fair value hierarchy as at March 31,2023 and March 31, 2022, respectively:

OCI presentation of defined benefit plan

-Gratuity is in the nature of defined benefit plan, Re-measurement gains/(losses) on defined benefit plans is shown under OCI as Items that will not be reclassified to profit or loss and also the income tax effect on the same.

-Leave encashment cost is in the nature of short term employee benefits.

Presentation in Statement of Profit and Loss and Balance Sheet

Expense for service cost, net interest on net defined benefit liability (asset) is charged to Statement of Profit and Loss.

IND AS 19 do not require segregation of provision in current and non-current, however net defined liability (Assets) is shown as current and non-current provision in balance sheet as per IND AS 1.

Actuarial liability for short term benefits (leave encashment cost) is shown as current and noncurrent provision in balance sheet.

When there is surplus in defined benefit plan, company is required to measure the net defined benefit asset at the lower of; the surplus in the defined benefit plan and the assets ceiling, determined using the discount rate specified, i.e. market yield at the end of the reporting period on government bonds, this is applicable for domestic companies, foreign company can use corporate bonds rate.

The Company assesses these assumptions with its projected long-term plans of growth and prevalent industry standards. The mortality rates used are as published by one of the leading life insurance companies in India.

The number of shares used in computing basic EPS is the weighted average number of shares

outstanding during the year.

24.17. The financial statements for the year ended March 31, 2023 were approved by the Board of

Directors and authorized for issue on 26^th May 2023.

24.18. Additional Regulatory Information:

i. The company does not have any immovable property wherein reporting requirement with respect to title deed of immovable properties is applicable.

ii. The Company has not revalued its Property, Plant and Equipment as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 217 during the year 2022-23 and 2021-22.

iii. The Company has not taken loan from banks or financial institutions on the basis of security of current assets.

iv. The company has not granted any loan to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.

v. No proceedings have been initiated or pending against the company under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

vi. Company is not declared willful defaulter by any bank or financial institution or other lender.

viii. The Company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

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

x. No Scheme of Arrangements has been approved by the Competent Authority in terms of Section 230 to 237 of the Companies Act, 2013.

xi. The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

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

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries. The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the group 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)

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries

xii. No income has been surrendered or disclosed for which transaction was 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.

xiii. During the year, the Company doesn''t fulfil the threshold limit criteria covered under section 135 of the Companies Act, 2013. Therefore, the provision related to Corporate Social Responsibility is not applicable to the company.

xiv. There is no transaction related to Crypto Currency or Virtual Currency during the current or

previous year.

24.19. Previous year figures have been regrouped/ rearranged, wherever considered necessary to conform to current year''s classification.

---

Mar 31, 2018

NOTES TO STANDALONE FINANCIAL STATEMENTS

6. The principal actuarial assumptions used for estimating the Company''s defined benefit obligations are set out below:

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
Attrition rate	5% PA	5% PA
Discount Rate	7.75% PA	7.50% PA
Expected Rate of increase in salary	6.50% PA	6.50% PA
Expected Rate of Return on Plan Assets	7.75% PA	-
Mortality rate	IALM 2006-08 ultimate	IALM 2006-08 ultimate
Expected Average remaining working lives of employees (years)	14.10	14.10

The assumption of future salary increase takes into account the inflation, seniority, promotion and other relevant factors such as supply and demand in employment market.

Estimate of expected benefit payments (In absolute terms i.e. undiscounted)

7. Statement of Employee benefit provision

(Rs lacs)

The following table sets out the funded status of the plan and the amounts recognised in the Company''s balance sheet.

8. Current and non-current provision for Gratuity and leave encashment For the year ended March 31, 2017

Particulars	Gratuity	leave encashment
Current provision	0.02	12.68
Non current provision	0.78	0.55
Total Provision	0.80	13.23

Particulars	Gratuity
01 Apr 2018 to 31 Mar 2019	2.50
01 Apr 2019 to 31 Mar 2020	1.16
01 Apr 2020 to 31 Mar 2021	1.30
01 Apr 2021 to 31 Mar 2022	0.47
01 Apr 2022 to 31 Mar 2023	0.77
01 Apr 2023 Onwards	11.55

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
Gratuity	-	0.80
Leave encashment	14.90	13.23
Total	14.90	14.03

NOTES TO STANDALONE FINANCIAL STATEMENTS

For the year ended March 31, 2018		(Rs lacs)
Particulars	Gratuity	leave encashment
Current provision	-	13.45
Non current provision	-	1.45
Total Provision	-	14.90
9. Employee benefit expenses		(Rs lacs)
Particulars	Year ended March 31 ,2018	Year ended March 31, 2017
Salaries and Wages	124.31	29.58
Costs-defined contribution plan	12.22	1.69
Welfare expenses	3.09	0.08
Total	139.62	31.35
(Figures in no.)
Particulars	Year ended March 31 ,2018	Year ended March 31, 2017
Average no. of people employed	5	3

The above details related to gratuity and leave encashment is as certified by the management. OCI presentation of defined benefit plan

- Gratuity is in the nature of defined benefit plan, Re-measurement gains/(losses) on defined benefit plans is shown under OCI as Items that will not be reclassified to profit or loss and also the income tax effect on the same.

- Leave encashment cost is in the nature of short term employee benefits.

Presentation in Statement of Profit and Loss and Balance Sheet

Expense for service cost, net interest on net defined benefit liability (asset) is charged to Statement of Profit and Loss.IND AS 19 do not require segregation of provision in current and non-current, however net defined liability (Assets) is shown as current and non-current provision in balance sheet as per IND AS1.

Actuarial liability for short term benefits (leave encashment cost) is shown as current and non-current provision in balance sheet.

When there is surplus in defined benefit plan, company is required to measure the net defined benefit asset at the lower of; the surplus in the defined benefit plan and the assets ceiling, determined using the discount rate specified, i.e. market yield at the end of the reporting period on government bonds, this is applicable for domestic companies, foreign company can use corporate bonds rate.

The Company assesses these assumptions with its projected long-term plans of growth and prevalent industry standards. The mortality rates used are as published by one of the leading life insurance companies in India.

25.9.Other disclosures

a) Auditors Remuneration

(Rs lacs)

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
i. Audit Fee	1.00	1.01
ii. Tax Audit Fee	-	0.20
Total	1.00	1.21

b) Details of loans given, investment made and Guarantees given, covered U/S 186(4) of the Companies Act 2013.

-Details of loans,guarantee and investments are given under the respective notes of financial statement. 25.10 Contigent liablities

25.11. Related party transactions

In accordance with the requirements of IND AS 24, on related party disclosures, name of the related party, related party re;ationship, transactions and outstanding balances including commitments where control exits and with whom transactions have taken place during reported periods, are:

* Independent directors are included only for the purpose of compliance with definition of Key management personnel given under IND AS 24.

S. No.	Name of the Entity	Relationship
1	JITF Urban Infrastructure Services Limited	Direct Subsidiary
2	JITF Water Infrastructure Limited	Indirect Subsidiary
3	Jindal Rail Infrastructure Limited	Indirect Subsidiary
4	JITF Urban Infrastructure Limited	Indirect Subsidiary
5	JITF Water Infra ( Naya Raipur) Limited	Step Down Subsidiary
6	JITF ESIPL CETP (Sitarganj) Limited	Step Down Subsidiary
7	JITF Industrial Infrastructure Development Company Limited	Step Down Subsidiary
8	JITF Urban Waste Management (Ferozepur) Limited	Step Down Subsidiary
9	JITF Urban Waste Management Jalandhar) Limited	Step Down Subsidiary
10	JITF Urban Waste Management (Bathinda) Limited	Step Down Subsidiary
11	Jindal Urban Waste Management (Visakhapatnam) Limited	Step Down Subsidiary
12	Jindal Urban Waste Management (Tirupati) Limited	Step Down Subsidiary
13	Jindal Urban Waste Management (Guntur) Limited	Step Down Subsidiary
14	Timarpur- Okhla Waste Management Company Private Limted	Step Down Subsidiary
15	Jindal Urban Waste Management (Jaipur) Limited	Step Down Subsidiary
16	Jindal Urban Waste Management Jodhpur) Limited	Step Down Subsidiary
17	Jindal Urban Waste Management (Ahmedabad) Limited	Step Down Subsidiary

(Rs lacs)

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
Corporate Guarantee/undertaking issued to lenders of Subsidiary Companies	10,200.00	-
Total	10,200.00	-

Related party name and relationship

1. Key Managerial Personnel

S. No.	Name	Particulars
1	Mr. Neeraj Kumar	Director
2	Mr. Rakesh Kumar Grover	Managing Director
3	Ms. Veni Verma	Director
4	Mr. Dhananjaya Pati Tripathi	Independent Director*
5	Mr. Girish Sharma	Independent Director*
6	Dr. Raj Kamal Agarwal	Independent Director*
7	Mr. Deepak Goyal	Director upto 7.09.2016
8	Mr. Rakesh Gupta	Director upto 7.09.2016
9	Mr. Alok Kumar	Company Secretary
10	Mr. Naresh Kumar Agarwal	Chief Financial Officer

z. Direct subsidiaries and indirect subsidiaries.

3. Joint ventures

S. No.	Name of the Entity	Relationship
1	JWIL-SSIL(JV)	Joint Venture of Indirect Subsidiary
2	SMC-JWIL(JV)	Joint Venture of Indirect Subsidiary
3	JWIL-Ranhill (JV)	Joint Venture of Indirect Subsidiary
4	TAPI-JWIL (JV)	Joint Venture of Indirect Subsidiary

4. Entities falling under same promoter group.

S.No.	Name of the entity
1	Jindal Saw Limited

5. Trust under common control

S.No.	Name of the Entity	Relationship
1	Jindal Water Infrastructure Limited Employees Group Gratuity Assurance Scheme	Employee gratuity trust of Indirect Subsidiary
2	JITF Urban Infrastructure Limited Employees Group Gratuity Assurance Scheme	Employee gratuity trust of Indirect Subsidiary
3	Jindal Rail Infrastructure Limited Employees Group Gratuity Scheme	Employee gratuity trust of Indirect Subsidiary

Related Party Transactions:				(Rs lacs)
Particulars	Direct/Indirect Subsidiary Company		Entities falling under same Promoter Group
	2017-18	2016-17	2017-18	2016-17
Investment-ln Share Capital during the year JITF Urban Infrastructure Services Limited (Loan Converted into Equity)	-	3,217.64	-	-
Repayment of Unsecured Loan JITF Urban Infrastructure Services Limited	50.00	35.00	_	_
Unsecured Loan Received
JITF Urban Infrastructure Services Limited	105.00	180.00	-	-
Interest Income on Unsecured loan
JITF Urban Infrastructure Services Limited	-	312.02	-	-
Income from Business Support Service Jindal Saw Limited	_	_	_	53.09
JITF Water Infrastructure Limited	131.17	-	-	-
JITF Urban Infrastructure Limited	34.24	-	-	-
Jindal Rail Infrastructure Limited	75.54	-	-	-
Payment made on behalf of company JITF Water Infrastructure Limited	26.19	93.76	_	_
Interest Expenses on Unsecured loan JITF Urban Infrastructure Services Limited	22.36	0.75	.	.

(Rs lacs)
Particulars	2017-18	2016-17
Sitting Fess Paid to Directors Sitting Fees	3.59	2.22

Related Party Balances:				(Rs lacs)
Particulars	Direct/Indirect Subsidiary Company		Entities falling under same Promoter Group
	As At March 31, 2018	As At March 31,2017	As At March 31,2018	As At March 31,2017
Investment in Share Capital JITF Urban Infrastructure Services Limited	32,083.16	32,083.16	.	.
Unsecured Loan Payable JITF Urban Infrastructure Services Limited	190.79	115.67	_	_
Amount Receivable
Jindal Saw Limited	-	-	-	59.99
JITF Water Infrastructure Limited	30.28	-	-	-
JITF Urban Infrastructure Limited	10.30	-	-	-
Jindal Rail Infrastructure Limited	12.20	-	-	-

Remuneration to Key Managerial Personnel (KMP)	(Rs lacs)
Particulars	Year ended March 31, 2018	Year ended March 31, 2017
Short-Term employee benefits	82.25	7.91
- Defined contribution plan	4.87	0.45
- Defined benefit plan	3.02	0.45
Total	90.14	8.81

25.12.Segment information

As Per IND AS 108 Operating Segment, Segment Information has been provided in notes to consolidates financial statements.

25.13. The company has made long term investments of Rs 32,083.16 lacs in subsidiary company where there is diminution in value in view of consolidated accumulated losses in excess of contribution made. In the opinion of the management, such diminution in value of investments is temporary in nature considering long term strategic investments, business prospects and future cash flows and thus no provision against this is necessary at this stage.

25.14. Pursuant to the Composite Scheme of Arrangement (Scheme), approved by Hon''ble High Court of Judicature at Allahabad, Investments and loans held by jindal Saw Limited in JITF Urban Infrastructure Services Limited (JUISL) has been transferred to JITF Infralogistics Limited ("the Company") w.e.f. appointed date 1st April 2015 made effective from 5th August 2016. During the year, there is no revenue from operation and other income mainly represents income from support services. Hence, in the opinion of the management, Company is not required to be registered as NBFI as it is not covered for the purpose of meeting the principal criteria for requirement of registration under section 45 (IA) with Reserve Bank of India Act, 1934.

25.15. Earnings per share

The following is a reconciliation of the equity shares used in the computation of basic and diluted earnings oer equity share:

Net profit available to equity holders of the Company used in the basic and diluted earnings per share was determined as follows:

(Rs lacs)

(Number of Shares)
Particulars	Year ended March 31 , 2018	Year ended March 31, 2017
Issued equity shares	2,57,03,706	2,57,03,706
Weighted average shares outstanding - Basic and Diluted -A	2,57,03,706	2,57,03,706

Particulars	Year ended March 31, 2018	Year ended March 31, 2017
Profit and loss after tax - B	19.16	155.97
Basic and Diluted Earnings per share (B/A)	0.07	0.61

The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year.

25.16. Previous year figures have been regrouped/ rearranged, wherever considered necessary to conform to current year''s classification.

As per our report of even date attached	For and on behalf of Board of Directors of JITF Infralogistics Limited
For Lodha & Co.	Rakesh Kumar Grover	Neeraj Kumar
Chartered Accountants	Managing Director	Director
Firm Registration No. 301051E	DIN -01431428	DIN -01776688
Gaurav Lodha	Alok Kumar	Naresh Kumar Agarwal
Partner	Company Secretary	Chief Financial Officer
M.No.507462	M. No.A-19819
Place : New Delhi
Dated : May 25, 2018