Univastu India Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

2.13 Provisions and contingencies

A Provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event and 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.

If the effect of the time value of money is material, provisions are discounted using a current pre- tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost in the statement of profit and loss.

Contingent liability is disclosed when,

• the Company has a present obligation arising from past events, when it is not probable that an outflow of resources will be
required to settle the obligation; or

• present obligation arising from past events, when no reliable estimate is possible; or

• a possible obligation arising from past events where the probability of outflow of resources is not remote
Provisions and contingent liabilities are reviewed at each Balance Sheet date.

2.14 Impairment of assets

Impairment loss, if any, is provided to the extent, the carrying amount of assets or cash generating units exceed their recoverable
amount. Recoverable amount is higher of an asset''s net selling price and its value in use. Value in use is the present value of estimated
future cash flows expected to arise from the continuing use of an asset or cash generating unit and from its disposal at the end of
its useful life.

Impairment losses recognised in prior years are reversed when there is an indication that the impairment losses recognised no
longer exist or have decreased. Such reversals are recognised as an increase in carrying amounts of assets to the extent that it does
not exceed the carrying amounts that would have been determined (net of amortization or depreciation) had no impairment loss
been recognised in previous years.

2.15 Earnings per share (EPS)

Basic EPS is calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average
number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year
and excluding treasury shares.

Diluted EPS adjust the figures used in the determination of basic EPS to consider:

• 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 (if any).

2.16 Operating cycle:

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other
criteria as set out in the Division II of Schedule III to the Companies Act, 2013.

Based on the nature of products and the time between acquisition of assets for processing and their realisation in cash and cash
equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current or non-current classification
of assets and liabilities.

2.17 Financial instruments, Financial assets, Financial liabilities and Equity Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the
relevant instrument and are initially measured at fair value except for trade receivables that do not contain a significant financing
component, which are measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of
financial assets and financial liabilities (other than financial assets and financial liabilities measured at fair value through profit or
loss) are added to or deducted from the fair value on initial recognition of financial assets or financial liabilities. Purchase or sale
of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place
(regular way trades) are recognised on the trade date, i.e., the date when the Company commits to purchase or sell the asset.

Financial Assets

Recognition:

Financial assets include Investments, trade receivables, advances, security deposits, cash and cash equivalents. Such assets are
initially recognised at fair value or transaction price, as applicable, when the Company becomes party to contractual obligations.
The transaction price includes transaction costs unless the asset is being fair valued through the Statement of Profit and Loss.

Classification:

Management determines the classification of an asset at initial recognition depending on the purpose for which the assets were
acquired. The subsequent measurement of financial assets depends on such classification.

Impairment:

The Company assesses at each reporting date whether a financial asset (or a group of financial assets) such as investments, trade
receivables, advances and security deposits held at amortised cost and financial assets that are measured at fair value through
other comprehensive income are tested for impairment based on evidence or information that is available without undue cost or
effort. Expected credit losses are assessed and loss allowances recognised if the credit quality of the financial asset has deteriorated
significantly since initial recognition.

Derecognition:

Financial assets are derecognised when the right to receive cash flows from the assets has expired, or has been transferred, and the
Company has transferred substantially all of the risks and rewards of ownership. If the asset is one that is measured at amortised
cost, the gain or loss is recognised in the Statement of Profit and Loss.

Income Recognition

Interest income is recognised in the Statement of Profit and Loss using the effective interest method.

Financial Liabilities

Borrowings, trade payables and other financial liabilities are initially recognised at fair value and are subsequently measured at
amortised cost. Any discount or premium on redemption / settlement is recognised in the Statement of Profit and Loss as finance
cost over the life of the liability using the effective interest method and adjusted to the liability figure disclosed in the Balance Sheet.

Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is discharged,
cancelled or on expiry.

2.18 Cash and cash equivalents

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

The deposits maintained by the Company with banks and financial institutions comprise time deposits. other bank balances
include, margin money, deposits, earmarked balances with bank, and other bank balances with bank which have restrictions on
repatriation.

2.19 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from
operating activities is reported using indirect method, adjusting the profit before tax for the effects of:

• changes during the period in operating receivables and payables transactions of a non-cash nature;

• non-cash items such as depreciation, provisions, unrealized foreign currency gains and losses; and

• all other items for which the cash effects are investing or financing cash flows

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are not available
for general use as at the date of Balance Sheet.

2.20 Functional and presentation currency

These financial statements are presented in Indian Rupees (INR), which is the Company''s functional currency. All financial information
is presented in INR Amount in Lakh rounded off to two decimal places, except share and per share data, unless otherwise stated.

Notes

(i) Investment in Opal Luxury Time Products Limited

Under the Corporate Insolvency Resolution Process of M/s. Opal Luxury Time Products Ltd. (Opal), the Hon. National Company Law
Tribunal (NCLT) has ordered the acceptance of the resolution plan submitted by Univastu India Limited vide its Order No. I.A. 1136 of
2022 in C.P. No. 1332 of 2020 dated July 20, 2023 . The said event has been duly disclosed to The Securities Exchange Board of India
(SEBI) on July 21, 2023. The technical, physical and legal handing over formalities of Opal are in process. Meanwhile, the Company
has deposited an amount of '' 119.50 Lakh with the judicial authority until the completion of handing over formalities. Till date, the
cheque has not been encashed by the authorities.

The Company had submitted the application to ROC on 4th September, 2023 for appointment of a Director in Opal. In response, the
form was approved on 25th April, 2024 enabling formation of the Board. Accordingly, the Board came into existence on 8th May,
2024.

(ii) Impairment of investments

During the previous year, the Company determined that its investment in the firm was impaired. The impairment was assessed in
accordance with Ind-AS 36 Impairment of Assets and recognized as a loss in the statement of profit and loss (Refer Note No. 38). The
impairment loss of '' 4.80 Lakh reflects the difference between the carrying amount of the investment and its recoverable amount.

(ii) During the year, the Company has received GST orders relating to the financial year 2017-18 and 2018-19 concerning alleged
availment of Input Tax Credit (ITC) on invoices issued by one of the suppliers, which has been identified as engaged in fake
invoicing activities. The order asserts that the ITC amounting to '' 45.24 Lakh availed by the Company is inadmissible as the
underlying supplies were not received or were fictitious. The Company has filed appeals against the order in April 2025.

Based on management''s assessment and legal advice, the Company believes that it has valid grounds to contest the orders and
that the likelihood of an outflow of resources is possible but not probable at this stage. Accordingly, no provision has been made
in the accounts. The matter is pending before the appellate authority and the final outcome may impact the Company''s financial
position.

(iii) The Company has received a GST order pertaining to the financial year 2020-21. The order relates to the availment of Input Tax
Credit (ITC) amounting to ''78.60 Lakh, which was claimed in the GST return for March 2021. The GST return was filed after the time
limit prescribed under Section 16(4) read with Section 16(5) of the CGST Act, 2017. The order confirms the demand for reversal of
the ITC, along with applicable interest and penalty, on the grounds that the ITC was availed beyond the statutory deadline.

The Company has filed an appeal against the order in May 2025. Based on legal advice and management''s assessment, the
Company believes it has valid grounds to contest the demand and considers the likelihood of an outflow of resources as possible
but not probable at this stage. Accordingly, no provision has been made in the accounts. The matter is pending before the
appellate authority.

39.06 Preferential issue of equity shares

During the year ended March 31, 2025, the Company allotted equity shares and share warrants pursuant to a preferential issue
approved by the Board of Directors at its meeting held on January 17, 2025, in accordance with applicable provisions of the
Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Purpose of Issue

The entire proceeds from the preferential issue of equity shares and share warrants are intended to be utilized for meeting the
working capital requirements of the Company and acquisitions. Relevant approvals from shareholders under Section 62(1)(c) of
the Companies Act, 2013 were obtained prior to the above allotments.

A Equity Shares

The Company allotted 6,30,990 equity shares of face value ''10 each at a price of ''216 per share (including a premium of ''206 per
share), aggregating to ''1,363.94 Lakhs.

- The in-principle approval for listing of the above equity shares was received from the National Stock Exchange of India
Limited (NSE) on 18th March 2025

- The shares were listed and admitted to dealings on the Exchange with effect from 11th April 2025, as per communication
received from NSE on 9th April 2025

- The share premium amount of ''1,299.84 Lakhs arising from this allotment has been credited to the Securities Premium
Account.

B Share Warrants

The Company also allotted 6,83,000 share warrants, each convertible into one fully paid-up equity share of face value ''10 each, at
a total issue price of ''216 per warrant (referred to as the “Warrant Issue Price"), on a preferential basis.

- Of the Warrant Issue Price, an amount of ''54 per warrant (representing 25% of the issue price and referred to as the
“Warrant Subscription Price") was received upfront at the time of allotment

- The remaining ''162 per warrant (representing 75% of the issue price and referred to as the “Warrant Exercise Price") is
payable upon exercise of the warrants.

- The warrants are exercisable in one or more tranches within a maximum period of 18 months from the date of allotment,
i.e., on or before 16th July 2026.

- In case the warrants are not exercised within the aforesaid period of 18 months, the entitlement to apply for equity shares,
along with all rights attached thereto, shall lapse and any amount paid on such Warrants shall stand forfeited.

- Upon exercise and receipt of full consideration, the Company will allot one fully paid-up equity share of face value ''10
each for every warrant exercised and transfer the corresponding amounts to Share Capital and Securities Premium
Account, as applicable.

- The Equity Shares allotted on exercise of the Warrants shall only be in dematerialized form and shall rank pari passu with
the existing Equity Shares of the Company including entitlement to voting powers and dividend.

- As on 31st March 2025, the Company has received ''368.83 Lakhs as 25% upfront consideration, which is disclosed under
the head “Money received against share warrants" under Other equity (Refer Note no.18) in the Balance Sheet.

39.07 Prior period errors in Statement of Changes in Equity

During the year ended March 31,2025, the Company identified certain items relating to earlier periods which were omitted from
previously issued financial statements. These have been corrected by adjusting the opening balance of retained earnings as at
April 1,2023.

During the year, the Company identified an error in the accounting of its defined benefit gratuity plan related to prior periods.
The net defined benefit obligation and asset balances were misstated in the previous financial year due to incorrect recognition.

In accordance with Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, the Company has retrospectively
restated the figures for the prior period presented. The impact of this correction was adjusted against the opening retained
earnings of the earliest prior period presented in the financial statements.

The correction resulted in:

Recognition of a net defined benefit asset of ''5.38 lakh as at March 31,2024, which was previously reported as a net defined
benefit obligation of ''13.41 lakh.

A decrease in employee benefits expense by ''3.75 lakh for the year ended March 31,2024.

An adjustment of ''15,09 lakh against opening retained earnings related to periods prior to the previous financial year.

39.09 Employee benefits -

a) Defined contribution plans

The Company makes Provident Fund contributions which are defined contribution plans, for qualifying employees. Under the
Scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company
recognised ''9.78 Lakhs (Previous year ''11.11 Lakhs) for Provident Fund contributions in the Statement of Profit and Loss. The
contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

b) Defined benefit plans

The Company offers the following employee benefit schemes to its employees
Gratuity

In accordance with Payment of Gratuity Act, 1972, the Company is required to provide post-employment benefits to its employees
in the form of gratuity. The obligations are measured at the present value of estimated future cash flow by using a discount rate
that is determined with reference to the market yields at the Balance Sheet date on Government Bonds which is consistent with
the estimated terms of the obligation.

c) Other long-term employee benefits

Leave encashment

The Company provides for leave encashment for employees as per the applicable rules. The liability on account of leave
encashment is recognized on the basis of actuarial valuation carried out at the end of the year, using the Projected Unit Credit
Method. The obligation is presented under Current and Non-current provisions in the Balance Sheet.

In accordance with IND AS 19 Employee Benefits, the disclosure related to actuarial assumptions are provided below:

# Leave encashment is unfunded. Hence, this disclosure is only with respect of Gratuity.

^A The entire plan asset is managed by the Life Insurance Corporation of India Limited (the insurer). In the absence of detailed
information regarding plan assets which is funded with Insurance Companies, the composition of each major category of plan
assets, the percentage or amount for each category to the fair value of plan assets has not been disclosed.

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

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

* The Company has actuarially valued its leave encashment liability for the first time in the previous year. Accordingly, the obligation
as on April 1,2023 which consists of past service cost has been adjusted against opening reserves net of deferred taxes amounting
to '' 5.03 Lakh (Refer note No.39.07).

39.10 Income tax assessment for Assessment Year 2023-24

During the year ended March 31,2025, the income tax assessment for the Assessment Year (AY) 2023-24 was concluded by the
Income Tax Department in March 2025. This resulted in a tax demand of ''9.17 lakhs. The said demand has been fully accrued in
these financial statements as at March 31,2025, under Note no. 29 Other current liabilities.

Subsequent to the year-end, in April 2025, the Company duly paid the aforesaid demand of ''9.17 lakhs.

The Income Tax Department''s online portal currently indicates an outstanding interest liability of ''1.10 lakhs under Section 220(2)
of the Income Tax Act, 1961, related to the aforementioned demand. Management has evaluated this matter, and based on its
interpretation of the relevant provisions of the Act, believes that the correctly applicable interest under Section 220(2) for the actual
period of delay in payment of the demand (which was made shortly after the expiry of the statutory 30-day period) is significantly
lower, estimated at approximately ''0.09 Lakhs (''9,171/-). The Company is evaluating the correctness of the outstanding interest.
Since the total interest amount is not material and because the event due to which interest gets attracted occurred after March
31,2025, the same has not been accrued in the books as on March 31,2025.

39.11 Details on derivative instruments and unhedged foreign currency exposures

a) The year-end foreign currency exposures that have been hedged by a derivative instrument: '' Nil (Previous year ''Nil).

b) There are no period-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise.

39.12 Leases

The undiscounted maturities of contractual lease liabilities over the remaining lease term is as follows:

39.14 Details of Benami Property held

The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against
the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made
thereunder.

39.15 Cash Credit / Working Capital Demand Loan facility secured against current assets

The Company has been sanctioned cash credit / working capital demand loan facility of ''2,600 Lakhs (Canara Bank ''1,900 Lakhs
and HDFC bank ''700 Lakhs) secured against current assets during the period.

39.16 Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any
government authority.

39.17 Relationship with Struck off Companies

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

39.18 Registration of charges or satisfaction with Registrar of Companies

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

39.19 Compliance with number of layers of companies

The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the
Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

39.20 Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact in current or previous financial
year.

39.21 Funding on behalf of the ultimate beneficiaries:

a) The Company has not advanced or loaned or invested any funds (either from borrowed funds or share premium or any
other sources or kind of funds) to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries"), with
the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (“Ultimate Beneficiaries") or

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

b) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (“Funding Parties"),
with the understanding, whether recorded in writing or otherwise, that the Company shall:

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

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

39.22 Undisclosed income

The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or

disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey).

39.23 Details of Crypto Currency or Virtual Currency

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

39.24 Valuation of PP&E, intangible asset and investment property

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the

current or previous year. The Company does not have investment property.

39.25 Title deeds of immovable properties not held in name of the Company

The title deeds of all immovable properties which are shown as part of Property, Plant and Equipment are registered in the name

of the Company. There are no such immovable properties which are not held in the name of the Company.

Notes:

(a) The Company has made a Preferential issue of equity shares and share warrants during the year. Refer Note no. 38.06 for details.

(b) While the net operating income increased, the term loan repayments have reduced the debt obligation.

(c) The share of profit from the LLP increased significantly due to increased business in the LLP and the share of profit was not fully
withdrawn during the year.

2 Reason for shortfall in CSR expenditure:

The Company has fully complied with the provisions of Section 135 of the Companies Act, 2013 relating to Corporate Social
Responsibility. The prescribed CSR amount as per the Act was duly spent during the year, and hence, there is no shortfall in CSR
expenditure to report for the year.

3 Nature of CSR activities:

The Company spends its CSR expenditure for promoting education, including special education, especially among children.

4 The amount of CSR expense was not recorded in the year 2021-22. Refer Note no. 39.07 for effects given in the financials.

5 While, as mentioned in Note 4 above, the CSR expense for FY 2021-22 was not accounted for, the amount was partially spent
during that year and remaining amount was transferred to CSR unpent account.

i The tax rate of 25.168% (22% surcharge @ 10% and cess @ 4%) used for the year 2024-25 and 2023-24 is the corporate tax rate
applicable on taxable profits under the Income-tax Act, 1961.

39.29 Recent Indian Accounting Standard (Ind AS) pronouncements which are not yet effective

The Ministry of Corporate Affairs (MCA) and the Institute of Chartered Accountants of India (ICAI) have issued the following new
and amended Indian Accounting Standards, which are not yet effective as of the balance sheet date:

1 Amendments to Ind AS 21 - The Effects of Changes in Foreign Exchange Rates

• The Ministry of Corporate Affairs (MCA) has issued amendments to Indian Accounting Standards, notably to Ind AS 21,
“The Effects of Changes in Foreign Exchange Rates," which are applicable for annual reporting periods beginning on or
after April 1,2025. These amendments provide guidance on estimating the spot exchange rate when the exchangeability
between two currencies is missing or impaired due to market conditions such as high currency volatility or lack of
transparent exchange rates.

• The amendments allow entities to use an estimated exchange rate to translate foreign currency transactions and
monetary items in such circumstances, thereby improving the accuracy and reliability of financial reporting related to
foreign currency transactions.

The Company is currently evaluating the potential impact of these standards and amendments on its financial statements.
The Company will adopt these standards and amendments as and when they become effective and applicable to the
Company.

39.30 Audit trail

The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail (edit
log) facility and the same has operated throughout the year for all transactions recorded in the accounting software. Further,
no instance of audit trail feature being tampered with was noted in respect of the accounting software.The audit trail has been
preserved by the Company as per the statutory requirements for record retention.

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

P V Page & Co. For and on behalf of the Board of Directors of

Chartered Accountants Univastu India Limited

FRN 107243 W CIN: L45100PN2009PLC133864

Prakash Page Pradeep Khandagale Rajashri Khandagale

Partner Managing Director Director

M No. 030560 DIN - 01124220 DIN - 02545231

Place : Mumbai Place : Pune Place : Pune

Date : May 27, 2025 Date : May 27, 2025 Date : May 27, 2025

Girish Deshmukh Sakshi Tiwari

Chief Financial Officer Company Secretary

Place : Pune Place : Pune

Date : May 27, 2025 Date : May 27, 2025

---

Mar 31, 2024

(i) Investment in Opal Luxury Time Products Limited

Under the Corporate Insolvency Resolution Process of M/s. Opal Luxury Time Products Ltd. (Opal), the Hon. National Company Law Tribunal (NCLT) has ordered the acceptance of the resolution plan submitted by Univastu India Limited vide its Order No. I.A. 1136 of 2022 in C.P. No. 1332 of 2020 dated July 20, 2023 . The said event has been duly disclosed to The Securities Exchange Board of India (SEBI) on July 21, 2023. The technical, physical and legal handing over formalities of Opal are in process. Meanwhile, the Company has deposited an amount of R119.50 Lakh with the judicial authority until the completion of handing over formalities. Till date, the cheque has not been encashed by the authorities.

The Company had submitted the application to ROC on 4^th September, 2023 for appointment of a Director in Opal. In response, subsequent to the year end, the form was approved on 25^th April, 2024 enabling formation of the Board. Accordingly, the Board came into existence on 8^th May, 2024.

(ii) Impairment of investments

During the current year, the Company determined that its investment in firm was impaired. The impairment was assessed in accordance with Ind-AS 36 Impairment of Assets and recognized as a loss in the statement of profit and loss (Refer Note No. 37). The impairment loss of R 4.80 Lakh reflects the difference between the carrying amount of the investment and its recoverable amount.

The Company has not paid or proposed any dividend during the current year.

(ii) The Company has issued one class of equity shares having a face value of H 10 per share. Each shareholder is eligible for one vote per share held. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Note: Adjustment of prior period errors

The Corporate Social Responsibility expenses amounting ot §16.66 Lakh and Leave encashment expense amounting to R 14.94 Lakh (net of deferred tax asset R5.03 Lakh) pertaining to previous years have been adjusted against the opening retained earnings as per the provisions of Ind AS 8.

NOTE 38: OTHER NOTES TO ACCOUNTS 38.01 : Contingent liabilities and commitments (to the extent not provided for)				(f in lakhs)
		Particulars	For the year ended March 31, 2024	For the year ended March 31, 2023
	a) i) ii) iii)	Contingent liabilities: Bank guarantees Provident Fund demand GST demand order - GST Dept. Audit for period July 2017 to March 2020 (Refer note (i) below)	1,463.66 Not ascertainable 172.11	1,499.05 Not ascertainable
	b)	Commitments: Estimated amount of contracts remaining to be executed on capital account and not provided for	Nil	Nil

Notes:

(i) The GST Department had audited the GST returns filed by the Company for the period from July 1,2017 to March 31, 2020 and determined a total liability of K 172.11 Lakh. The Company has filed and appeal against the order with The Commissioner of Central Goods and Service Tax, (Appeals-II) on March 27, 2024 and has deposited an amount of K 15.47 Lakh under protest (Refer Note No. 16).

Dues to Micro and Small Enterprises have been determined to the extent of the cofirmation from the suppliers after the communication from the management to the suppliers. The Company has communicated with Vendors for transactions arising during the current financial year only.

38.07 : Employee benefits -

a) Defined contribution plans

The Company makes Provident Fund contributions which are defined contribution plans, for qualifying employees. Under the Scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 11.11 Lakhs (Previous year Rs. 10.70 Lakhs) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

b) Defined benefit plans

The Company offers the following employee benefit schemes to its employees

Gratuity

In accordance with Payment of Gratuity Act, 1972, the Company is required to provide post-employment benefits to its employees in the form of gratuity. The obligations are measured at the present value of estimated future cash flow by using a discount rate that is determined with reference to the market yields at the Balance Sheet date on Government Bonds which is consistent with the estimated terms of the obligation.

Sensitivity Analysis

The Sensitivity Analysis below has been determined based on reasonably possible change of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. These sensitivities show the hypothetical impact of a change in each of the listed assumptions in isolation. While each of these sensitivities holds all other assumptions constant, in practice such assumptions rarely change in isolation and the asset value changes may partially offset this impact. For presenting the sensitivities, the present value of the Defined Benefit Obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the Defined Benefit Obligation presented above. There was no change in the methods and assumptions used in the preparation of the Sensitivity Analysis from previous year.

$ The current service cost, past service cost and net interest cost for the year, as applicable, pertaining to Pension and Gratuity expenses have been recognised in "Contribution to Provident and other funds" and Leave Encashment in "Salaries and wages" under Note No. 34. The remeasurements of the net defined benefit liability are included in Other Comprehensive Income.

# Leave encashment is unfunded. Hence, this disclosure is only with respect of Gratuity.

^A The entire plan asset is managed by the Life Insurance Corporation of India Limited (the insurer). In the absence

of detailed information regarding plan assets which is funded with Insurance Companies, the composition of each major category of plan assets, the percentage or amount for each category to the fair value of plan assets has not been disclosed.

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

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

* The Company has actuarially valued its leave encashment liability for the first time in the current year. Accordingly, the obligation as on April 1,2023 which consists of past service cost has been adjusted against opening reserves net of deferred taxes amounting to H 5.03 Lakh and has been disclosed under Note No. 18 Statement of Changes in Equity.

38.08 Details on derivative instruments and unhedged foreign currency exposures

a) The year-end foreign currency exposures that have been hedged by a derivative instrument:

Rs. Nil (Previous year Rs. Nil).

b) There are no period-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise.

38.11 Details of Benami Property held

The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

38.12 Cash Credit / Working Capital Demand Loan facility secured against current assets

The Company has been sanctioned cash credit / working capital demand loan facility of R2600 Lakhs (Canara Bank R1900 Lakhs and HDFC bank Rs. 700 Lakhs) secured against current assets during the period.

38.13 Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

38.14 Relationship with Struck off Companies

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

38.15 Registration of charges or satisfaction with Registrar of Companies

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

38.16 Compliance with number of layers of companies

The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

38.17 Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact in current or previous financial year.

38.18 Funding on behalf of the ultimate beneficiaries:

a) The Company has not advanced or loaned or invested any funds (either from borrowed funds or share premium or any other sources or kind of funds) to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or

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

b) The Company has not received any funds from any person(s) or entity(ies), including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall:

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

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

38.19 Undisclosed income

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

38.20 Details of Crypto Currency or Virtual Currency

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

38.21 Valuation of PP&E, intangible asset and investment property

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the current or previous year. The Company does not have investment property.

38.22 Title deeds of immovable properties not held in name of the Company

The title deeds of all immovable properties which are shown as part of Property, Plant and Equipment are registered in the name of the Company. There are no such immovable properties which are not held in the name of the Company.

1 The amount required to be spent on CSR activities during the year is calculated as per the provisions of Section 135 of the Companies Act, 2013 i.e., 2% of average net profits for the immediately preceding three financial years.

2 Reason for shortfall in CSR expenditure:

The Company has identified a project relating to promotion of education among children in the rural areas. Since this project has not yet commenced, the Company spent an amount of H 6.20 Lakh on similar ongoing projects and the unspent amount is transferred within a period of thirty days from the end of the financial year to a special account opened in that behalf for that financial year.

3 Nature of CSR activities:

The Company spends its CSR expenditure for promoting education, including special education, especially among children.

4 The amount of CSR expense was not recorded in the year 2021-22. The error has been identified and corrected in the current year by adjusting the opening reserves and has been disclosed under Note No. 18 Other equity.

5 While, as mentioned in Note 4 above, the CSR expense for FY 2021-22 was not accounted for, the amount was partially spent during that year and remaining amount was transferred to CSR unpent account.

i The tax rate of 25.168% (22% surcharge @ 10% and cess @ 4%) used for the year 2023-24 and 2022-23 is the

corporate tax rate applicable on taxable profits under the Income-tax Act, 1961.

38.26 Recent Indian Accounting Standard (Ind AS) pronouncements which are not yet effective

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31,2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

38.27 Audit trail

The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all transactions recorded in the accounting software. Further, no instance of audit trail feature being tampered with was noted in respect of the accounting software

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

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Mar 31, 2023

Note:- For contracts where the aggregate of contract cost incurred to-date plus recognised profits (or minus recognised losses as the case may be exceeds the progress billing, the surplus is shown as contract asset and termed as "Due from customers" For contracts where progress billing exceeds the aggregate of contract costs incurred to-date plus recognised profits (or minus recognised losses, as the case may be, the surplus is shown as contract liability and termed as "Due to customers"

(a) The company has only one class of shares referred to as equity shares having a per value of Rs.10 each. Each holder of equity shares is entitled to one vote per share

Note:- For contracts where the aggregate of contract cost incurred to-date plus recognised profits (or minus recognised losses as the case may be exceeds the progress billing, the surplus is shown as contract asset and termed as "Due from customers" For contracts where progress billing exceeds the aggregate of contract costs incurred to-date plus recognised profits (or minus recognised losses, as the case may be, the surplus is shown as contract liability and termed as "Due to customers"

A. Revenue from contracts with customers is recognised when a performance obligation is satisfied by transfer of promised goods or services to a customer. For performance obligation satisfied over time, the revenue recognition is done by measuring the progress towards complete satisfaction of performance obligation. The progress is measured in terms of a proportion of actual cost incurred to-date, to the total estimated cost attributable to the performance obligation as per IND AS 115

B. Revenue from construction/project related activity is recognised as follows:

1. Cost plus contracts: Revenue from cost plus contracts is recognised over time and is determined with reference to the extent performance obligations have been satisfied. The amount of transaction price allocated to the performance obligations satisfied represents the recoverable costs incurred during the period plus the margin as agreed with the customer.

2. Fixed price contracts: Contract revenue is recognised over time to the extent of performance obligation satisfied and control is transferred to the customer. Contract revenue is recognised at allocable transaction price which represents the cost of work performed on the contract plus proportionate margin, using the percentage of completion method. Percentage of completion is the proportion of cost of work performed to-date, to the total estimated contract costs.

Progress Billing : Work done and certified by the client for which invoices are raised is shown as progress billing

Workign In Progress : work done on total point of completion basis is shown as work in Progress for long term construction contracts

For contracts where the aggregate of contract cost incurred to-date plus recognised profits (or minus recognised losses as the case may be exceeds the progress billing, the surplus is shown as contract asset and termed as "Due from customers"

For contracts where progress billing exceeds the aggregate of contract costs incurred to-date plus recognised profits (or minus recognised losses, as the case may be, the surplus is shown as contract liability and termed as "Due to customers".

Amounts received before the related work is performed are disclosed in the Balance Sheet as contract liability and termed as "Advances from customer"

The amounts billed on customer for work performed and are unconditionally due for payment i.e. only passage of time is required before payment falls due, are disclosed in the Balance Sheet as trade receivables.

Revenue from rendering of services is recognised over time as the customer receives the benefit of the Company''s performance and the Company has an enforceable right to payment for services transferred.

The Company has entered into various Related Party Transactions during the financial year which were in the ordinary course of business and made on terms equivalent to those that prevail in arm''s length transactions.

During the year, the Company had not entered into any contract / arrangement/ transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions or which is required to be reported in Form No. AOC-2 in terms of Section 134(3) (h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.

The Company has formulated a policy on dealing with Related Party Transactions. The same is available on the Company''s website at https://www.univastu.com

The details of all the transactions with Related Parties are provided in the accompanying financial statements.

Notes related to Corporate Social Responsibility expenditure (CSR):As per Section 135 of the Companies Act, 2013, a company, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities.meeting the applicability threshold .The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation environment sustainability, disaster relief, COVID-19 relief and rural development projects.

A CSR committee has been formed by the Company as per the Act.The funds were primarily allocated to a corpus and utilized through Companies Act, 2013: the year on these activities which are specified in Schedule VII of the Companies Act, 2013: a) Gross amount required to be spent by the Company during the year is 17.11 Lakhs. b) Amount spent during the year on: 6.20 lakhs c) Amount unspent 10.91 lakhs transferred to "CSR UNSPENT ACCOUNT

Note 36 Confirmation

The balances in the accounts of Trade Receivables, Trade Payables, Loans and Advances, Other Current Assets and Other Current Liabilities are subject to confirmation / reconciliation, if any, The Management does not expect any significant variance from the reported figures.

Note 37 Disclosure of Creditors outstanding under MSMED Act, 2006

The information regarding outstanding amount payable to Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company.

Note 38 Reclassification

The Company has recast, re-grouped and reclassified previous year figures to conform to this year''s classification.

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Mar 31, 2018

Exceptional items Note No :- 1.

During the year company has changed the method of providing depreciation from Written Down Value to Straight Line Method with retrospective effect, impact of this change is increase in profit by Rs 76,07,287/- which has been shown as exceptional item.

Change of Depreciation Method Note No :- 2.

During the year company has changed the method of providing depreciation from Written Down Value to Straight Line Method with retrospective effect. Due to this the current year’s depreciation is Rs 47,17,428/- which is less by Rs 56,92,408/-. Cumulative impact of this change is increase in profit by Rs 1,32,99,695/- out of which Rs 76,07,287/- is pertaining to earlier year which has been shown as exceptional item in the Statement of Profit and Loss under Note No 2.25. Due to this change the Fixed Assets value is increase by Rs 76,07,287/-.

Confirmations Note No :- 3.

The balances in the accounts of Trade Receivables, Trade Payables, Loans and Advances, Other Current Assets and Other Current Liabilities are subject to confirmation / reconciliation, if any, The Management does not expect any significant variance from the reported figures.

Reclassification Note No :- 4.

The Company has recast, re-grouped and reclassified previous year figures to conform to this year''s classification.