Provisions, contingent liabilities and contingent assets:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a
past event and it is probable that the outflow of resources embodying economic benefits will be required to
settled the obligation in respect of which reliable estimate can be made of the amount of the obligation. When
the Company expects some or all of a provision to be reimbursed, the expense relating to provision presented
in the statement of profit & loss is net of any reimbursement.

The present obligation under an onerous contract is recognised and measured as a provision. However
before a separate provision for an onerous contract is established, the company recognises any impairment
loss that has occurred on assets dedicated to that contract. If the effect of the time value of money is
material, provisions are disclosed using a current pre-tax rate that reflects, when appropriate, the risk specific
to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognized as finance cost.

Contingent liabilities are possible obligations that arise from past events and whose existence will only be
confirmed by the occurrence or non-occurrence of one or more future events not wholly within the control of
the Company. Where it is not probable that an outflow of economic benefits will be required, or the amount
cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of
outflow of economic benefits is remote.

Contingent assets are not recognized but disclosed, when probable assets that arises from past events and
whose existence will be confirmed only by the occurrence or non-occurrence of one more uncertain event not
wholly with in the control of the Company.

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

Taxes:

Income tax comprises current and deferred tax. It is recognized in profit or loss except to the extent that it
relates to a business combination or to an item recognized directly in equity or in other comprehensive
income.

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and
any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax
reflects the best estimate of the tax amount expected to be paid or received after considering the uncertainty,
if any, related to income taxes. It is measured using tax rates (and tax laws) enacted or substantively enacted
by the reporting date.

In correlation to the underlying transaction relating to Other comprehensive income and Equity, current tax
items are recognized in Other comprehensive income and Equity, respectively. Management periodically
evaluates positions taken in the tax returns to situations in which applicable tax regulations are subject to
interpretation. Then, full provisions are made where appropriate based on the amount expected to be paid to
the tax authorities.

Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the
recognized amounts, and it is intended to realize the asset and settle the liability on net basis or
simultaneously.

Deferred tax
Revenue recognition:

The company is primarily engaged in share broking activity and having trading membership of NSE India
Limited. Brokerage income is the main source of Income.

Contract Balances
Contract Assets:

A contract asset is recognised for the conditional earned consideration, if the company has the right to
consideration in exchange of goods or services transferred to a customer before the customer pays the
consideration or before payment is due.

Trade Receivables:

A trade receivable is recognised for the company’s right to an amount of consideration, in exchange of goods
or services transferred to a customer, that is unconditional i.e. only the passage of time is required before
payment of the consideration is due.

Contract Liabilities:

A Contract liabilities is recognised for the consideration paid by a customer before the transfer of goods or
services to the company. The contract liabilities are recognised as revenue when the company performs
under the contract.

Contract Cost:

The incremental costs of obtaining a contract with a customer and the costs incurred to fulfil a contract with a
cus-tomer, if those cost are not within the scope of other Ind AS for e.g. Ind AS 2 - Inventories, Ind AS 16-
Property Plant & equipment, Ind AS 38- Intangible Assets etc, are recognised as an asset, if the company
expects to recover those costs. The incremental costs of obtaining the contract are those that the company
incurs to obtain a contract with a customer that would not have been incurred if the contract had not been
obtained. The company has elected to apply the optional practical expedient for costs to obtain a contract and
to fulfil a contract which allows the company to immediately expense the costs because the amortization
period of the asset that the company otherwise would have used is one year or less.

Interest:

Interest income from a financial asset is recognized when it is probable that the economic benefit will flow to
the Company and the amount of income can be measured reliably. Interest income is accrued on a time
basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate
that exactly discounts estimated future cash receipts through the expected life of the financial asset to that
asset's net carrying amount on initial recognition.

Dividends:

Dividend income is recognized when the Company's right to receive the dividend is established, it is probable
that the economic benefits associated with the dividend will flow to the entity and the amount of the dividend
can be measured reliably i.e. in case of interim dividend, on the date of declaration by the Board of Directors;
whereas in case of final dividend, on the date of approval by the shareholders.

Insurance claim:

Insurance claim are recognised only when the realisation of insurance claim is probable, and only to the
extent of related loss recognised in the financial statements. The recovery of loss is generally would be
probable, when the claim is not in dispute. Any amount expected to be recovered is excess of recognised
loss, which will result in gain is recognised upon the resolution of contingencies liability to insurance claim i.e.
whether amount of claim is admittede to the payable by the insurance company.

Expenses:

All expenses are accounted for on accrual basis.

Transactions in foreign currencies are initially recorded at the functional currency spot rate prevailing at the
date of the transaction first qualifies for recognition.

Monetary assets and liabilities related to foreign currency transactions outstanding at the balance sheet date
are translated at the functional currency spot rate of exchange prevailing at the balance sheet date. Any
income or expense arising on account of foreign exchange difference either on settlement or on translation is
recognized in the Statement of Profit and Loss.

Non-monetary items which are carried at historical cost denominated in a foreign currency are translated
using the exchange rate at the date of the initial transaction. Non-monetary items which are measured at fair
value in a foreign currency are translated using the exchange rates at the date when fair value is determined.
The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the
recognition of the gain or loss on the change in fair value of item.

Borrowings:

Long term borrowings are initially recognized at net of material transaction costs incurred and measured at
amor-tized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount
is recognized in the statement of profit or loss over the period of the borrowings using the effective interest
method.

Borrowing Costs:

Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are
capitalised during the period that is required to complete and prepare the asset for its intended use or sale.
Qualifying assets are assets that necessarily take a substantial time to get ready for their intended use or
sale. Borrowing costs consist of interest and other costs that a Company incurs in connection with the
borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an
adjustment to the borrowing costs. Other borrowing costs are expensed in the period in which they are
incurred.

Impairment:

Non-Financial assets:

Intangible assets that have an indefinite useful life are not subject to amortisation but are tested annually for
impairment. Other intangible assets and property, plant and equipment are evaluated for recoverability
whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable.
For the purpose of impair-ment testing, the recoverable amount (i.e. the higher of the fair value less cost to
sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash
flows that are largely independent of those from other assets. In such cases, the recoverable amount is
determined for the Cash Generating Unit (CGU) to which the asset belongs.

The Carrying amount of assets is reviewed at each balance sheet date, if there is any indication of
impairment based on internal/external factor. An asset is impaired when the carrying amount of the assets
exceeds the recoverable amount. Impairment is charged to the profit and loss account in the year in which an
asset is identified as impaired.

An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates
used to determine the recoverable amount. The carrying amount of the asset is increased to its revised
recoverable amount, provided that this amount does not exceed the carrying amount that would have been
determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized
for the asset in prior years.

• Financial assets

The Company recognizes loss allowances using the Expected Credit Loss ("ECL") model for financial assets
measured at amortized cost. The Company recognizes lifetime expected credit losses for trade receivables.
Loss allowance equal to the lifetime expected credit losses are recognized if the credit risk of the financial
asset has significantly increased since initial recognition.

Employee benefits:

Short-term obligations:

Short-term obligations for wages and salaries, including nonmonetary benefits that are expected to be settled
wholly within twelve months after the end of the period, are recognised as an expense at the undiscounted
amounts of expected liabilities in the year in which the related service is rendered.

Defined contribution plans:

The Company pays provident and other fund contributions to publicly administered funds as per related
Govern-ment regulations. The Company has no further obligation other than the contributions payable to the
respective funds. The Company recognizes contribution payable to such funds as an expense when an
employee renders the related service.

Defined benefit plans:

The company provides for gratuity, a defined benefit retirement plan (' the Gratuity Plan¹) covering eligible
employees of the company. The Gratuity Plan provides a lump-sum payment to vested employees at
retirement, death, or termination of employment, of an amount based on the respective employee's salary and
the tenure of employment with the company.

Compensated absences:

The employees of the Company are entitled to compensated absences that are both accumulating and non¬
accumulating in nature. The expected cost of accumulating compensated absences is determined by
actuarial valuation using the projected unit credit method for the unused entitlement accumulated at the
balance sheet date. The benefits are discounted using the market yields at the end of the balance sheet date
that has terms approximating the terms of the related obligation. Re-measurements resulting from experience
adjustments and changes in actuarial assumptions are recognized in profit or loss.

Voluntary Retirement Scheme:

Expenditure on voluntary retirement scheme is charged to the Statement of Profit and Loss in the year in
which it is incurred.

Financial Instruments:

Financial Assets:

Classification

The company classified financial assets as subsequently measured at amortized cost, fair value though other
comprehensive income or fair value through profit or loss on the basis of its business model for managing the
financial assets and contractual cash flow characteristics of the financial asset.

Initial Recognition and Measurement:

All financial assets are recognised initially at fair value. Transaction costs directly attributable to the
acquisition or issue of the financial asset, other than financial assets at fair value through profit or loss, are
added to or deducted from the fair value of the financial assets as appropriate on initial recognition. The
financial assets include equity and debt securities, trade and other receivables, loans and advances, cash
and bank balances and derivative financial instruments. Trade receivables that do not contain a significant
financing component are measured at transaction price.

Subsequent Measurement:

For the purpose of subsequent measurement the financial assets are classified in three categories:

• at amortized cost

• at fair value through other comprehensive income

• at fair value through profit or loss

Financial assets at amortized cost:

Equity investments

All equity investments in the scope of Ind AS 109 are measured at fair value. Equity instruments included
within the FVTPL category, if any, are measured at fair value with all changes recognized in statement of
profit or loss. The Company may make an irrevocable election to present in OCI subsequent changes in the
fair value. The Company makes such election on an instrument-by-instrument basis. The classification is
made on initial recognition and is irrevocable. When the fair value has been determined based on level 3
inputs, the difference between the fair value at initial recognition and the transaction price, if loss, is
recognized through retained earnings and after initial recognition subsequent changes in fair value of equity
instruments is recognised as gain or loss to the extent it arises from change in input to valuation technique If
the company decides to classify an equity instrument as at FVTOCI, then fair value changes on the
instrument, excluding dividends, are recognized in other compressive income (OCI). There is no recycling of
the amounts from OCI to statement of profit or loss, even on sale of investments.

However, the Company may transfer the cumulative gain or loss within equity.

De-recognition:

Afinancial assets (or, where applicable, a part of a financial asset) is primarily derecognized when:

• The right to receive cash flows from the assets have expired or

• The company has transferred substantially all the risks and rewards of the assets, or

• The company has neither transferred nor retained substantially all the risks and rewards of the assets, but
has transferred control of the assets.

Financial liabilities:

Classification

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

Initial recognition and measurement:

The company recognizes financial liability when it becomes a party to the contractual provision of the
instrument. All financial liabilities are recognized initially at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial liabilities, other than financial liabilities at fair value through
profit or loss, are added to or deducted from the fair value of the financial liabilities, as appropriate, on initial
recognition.

The Company uses various derivative financial instruments to mitigate the risk of changes in interest rates,
exchange rates and commodity prices. Such derivative financial instruments are initially recognised at fair
value on the date on which a derivative contract is entered into and are also subsequently measured at fair
value. Derivatives are carried as Financial Assets when the fair value is positive and as Financial Liabilities
when the fair value is negative.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of
Profit and Loss, except for the effective portion of cash flow hedge which is recognised in Other
Comprehensive Income and later to Statement of Profit and Loss when the hedged item affects profit or loss
or is treated as basis adjustment if a hedged forecast transaction subsequently results in the recognition of a
Non-Financial Assets or Non-Financial liability.

Hedges that meet the criteria for hedge accounting are accounted for as follows:

Cash Flow Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging
instruments to mitigate the risk of movement in interest rates and foreign exchange rates for foreign exchange
exposure on highly probable future cash flows attributable to a recognised asset or liability or forecast cash
transactions. When a derivative is designated as a cash flow hedging instrument, the effective portion of
changes in the fair value of the derivative is recognized in the cash flow hedging reserve being part of Other
Comprehensive Income. Any ineffective portion of changes in the fair value of the derivative is recognized
immediately in the Statement of Profit and Loss. If the hedging relationship no longer meets the criteria for
hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or
is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash
flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the
underlying transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging
reserve is transferred to the Statement of Profit and Loss upon the occurrence of the underlying transaction. If
the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow hedging
reserve is reclassified in the Statement of Profit and Loss.

Fair Value Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging
instruments to mitigate the risk of change in fair value of hedged item due to movement in interest rates,
foreign exchange rates and commodity prices. Changes in the fair value of hedging instruments and hedged
items that are designated and qualify as fair value hedges are recorded in the Statement of Profit and Loss. If
the hedging relationship no longer meets the criteria for hedge accounting, the adjustment to the carrying
amount of a hedged item for which the effective interest method is used for amortising to Statement of Profit
and Loss over the period of maturity.

The Company's operating segments are established on the basis of those components of the Company that
are evaluated regularly by the Board of Directors (the 'Chief Operating Decision Maker' as defined in Ind AS
108 - 'Operating Segments'), in deciding how to allocate resources and in assessing performance. These
have been identified taking into account nature of products and services, the differing risks and returns and
the internal business reporting systems.

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities
of the segment. Revenue and Expenses which relate to enterprise as a whole and are not allocable to a
segment on reasonable basis have been disclosed as "Un-allocable".

Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Assets and
liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Un-allocable".

Government grants:

Government grants are recognised at fair value where there is reasonable assurance that the grant will be
received and all attached conditions will be complied with. Government grants that are receivable as
compensation for expenses or losses already incurred or for the purpose of giving immediate financial
support to the company with no future related costs are recognised in statement of profit and loss in the
period in which they become receivable.

Government grants related to assets, including non-monetary grants recorded at fair value, are treated as
deferred income and are recognized and credited in the Statement of Profit and Loss on a systematic and
rational basis over the estimated useful life of the related asset and presented in other income.

When loans or similar assistance are provided by governments or related institutions, with an interest rate
below the current applicable market rate, the effect of this favourable interest is regarded as a government
grant. The loan or assistance is initially recognised and measured at fair value and the government grant is
measured as the difference between the initial carrying value of the loan and the proceeds received. The loan
is subsequently measured as per the accounting policy applicable to financial liabilities.

Non-current assets (or disposal group) held for sale and discontinued operations:

Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying
value and fair value less costs to sell.

Assets and disposal groups are classified as held for sale if their carrying value will be recovered through a
sale transaction rather than through continuing use. This condition is only met when the sale is highly
probable and the asset, or disposal group, is available for immediate sale in its present condition and is
marketed for sale at a price that is reasonable in relation to its current fair value.

Where a disposal group represents a separate major line of business or geographical area of operations, or is
part of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations, then it is treated as a discontinued operation. The post-tax profit or loss of the discontinued
operation together with the gain or loss recognised on its disposal are disclosed as a single amount in the
statement of profit and loss, with all prior periods being presented on this basis.

Fair Value Measurement:

The Company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is based on
the presumption that the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or

• In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use
when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant's ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant
that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient
data are available to measure fair value, maximising the use of relevant observable inputs and minimising the
use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are
categorised within the fair value hierarchy, described as follows, based on the lowest level input that is
significant to the fair value measurement as a whole:

Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or indirectly observable

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company
deter-mines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation
(based on the lowest level input that is significant to the fair value measurement as a whole) at the end of
each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets & liabilities on the
basis of the nature, characteristics and the risks of the asset or liability and the level of the fair value hierarchy
as explained above.

Dividend payable:

Dividends and interim dividends payable to a Company's shareholders are recognized as changes in equity in
the period in which they are approved by the shareholder's meeting and the Board of Directors respectively.

Statement of Cash Flow:

Cash flows are stated using the indirect method, whereby profit/loss before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or
payments and items of incomes and expenses associated with investing or financing flows. The cash flows
from operating, investing and financing activities of the Company are segregated.

Earning per share(EPS):

Basic EPS amounts are calculated by dividing the profitZ(loss) for the period attributable to equity holders by
the weighted average. Diluted EPS amounts are calculated by dividing the profit/(loss) attributable to equity
holders by the weighted average number of Equity shareholders.

Note: Related party relationships as per Ind as 24 have been identified by the management had relied upon
by the auditors.

Terms and conditions of transactions with related parties

The transaction with related parties were made on normal commercial terms and conditions and at market
rates.

Segment Information:

In accordance with paragraph 4 of Indian Accounting Standard (Ind AS) 108 'Operating Segments' prescribed
under Section 133 of the Act, read with Rule 7 of the Companies (Indian Accounting Standards) Rules, 2015,
the Company has no separate segment which required to be disclosed under Ind AS 108.

Details of micro enterprises and small enterprises as defined under the Micro, Small and Medium

Development (MSME) Act, 2006:

The company did not have any transactions with Small Scale Industrial ('SME's') undertakings during the year
ended March 31, 2024 and hence there are no amounts due to such undertakings. The identification of
SME's undertakings is based on the management's knowledge of their status.

The Company has not received any information from "suppliers" regarding their status under the Micro, Small
and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as
at the year ended together with interest paid /payable as required under the said Act have not been furnished.

Retirement benefits:

(a) Defined Contribution Plan

An entity is not participating in any employer defined benefit plan that does not prepare plan valuations on
an IND AS 19 basis. Company not having employee who served from more than 5 years.

Financial instruments-fair value measurements:

Some of the Company's financial assets and financial liabilities are measured at fair value at the end of each
Reporting period. The following table gives information about how the fair values of these financial assets and
financial liabilities are determined (in particular the valuation techniques and in-puts used).

Fair value Hierarchy:

All assets and liabilities for which fair value is measured disclosed in the or disclosed in the financial
statement are categorized within the fair value hierarchy, described as follows, based on the lowest level input
that is significant to the fair value measurement as a whole:

Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable.

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value
measurement in unobservable.

Other statutory information:

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

b) As per the information and explanations to us The Company do not have any transactions with
companies struck off.

c) The Company has not traded or invested In Crypto currency or Virtual Currency during the financial
Period.

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

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

f) The Company does not have any Intangible Assets, thus, disclosures relating to revaluation of Intangible
As-sets is not applicable.

g) The Company has not revalued its property, Plant and Equipment (including Right of use Assets), thus
valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and
Valuation) Rules,2017 is not applicable.

h) The Company has not advanced or loaned or invested funds to any other person or entity, including
foreign entities (Intermediaries) with the understanding that the intermediary shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner what so ever
by or on behalf of the Company (ultimate beneficiaries) or

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

i) The Company have company shall:

(i) directly or in directly lend or invest in other persons or entities identified in any manner what so ever
by or on be-half of 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 funding
Party (ultimate beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

Previous Years Figures:

Previous year's figures have been regrouped or reclassified, wherever necessary.

As per Report of our even date attached For and Behalf of Board

FOR Vandana V. Dodhia & Co.

CHARTERED ACCOUNTANTS

(Vandana V. Dodhia) Hemant Choksey Baijoo M Raval

PROPRIETOR Director Wholetime Director

M. No.:104000 DIN:0396961 DIN:0429398

UDIN : 24104000BKFJGK3010

Niti B Raval Sonalben Kanabar

PLACE - MUMBAI Exective Director & CFO Company Secretary

DATE - 30th May, 2024 DIN no : 06895548 M. No.: A58808