Kamdhenu Ventures Ltd. இன் கணக்கு குறிப்புகள்

Mar 31, 2025

1.12 Provisions, Contingent liabilities, Contingent Assets

A provision is recognized when an enterprise has a
present obligation as a result of past event and it is
probable that an outflow of resources will be required
to settle the obligation in respect of which a reliable
estimate can be made. Provisions are measured at the
present value of management''s best estimate of the
expenditure required to settle the present obligations
at the end of the reporting period. 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 changes in the provision
due to the passage of time are recognized as an
interest cost.

Contingent liabilities are disclosed in the case of:

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

b) a present obligation arising from the past events,
when no reliable estimate is possible; and

c) a possible obligation arising from past events,
unless the probability of outflow of resources is
remote.

Contingent assets are not recognized but disclosed in
the standalone financial statements when an inflow of
economic benefit is probable.

1.13 Employee Benefits

A. Defined Contribution Plans

Retirement benefit in the form of contribution to
provident fund and pension fund are charged to
statement of Profit and Loss.

B. Defined Benefit Plan (Unfunded)

Gratuity is the nature of a defined benefit plan.
Provision for gratuity is calculated on the basis of
actuarial valuation carried out at reporting date and is
charged to statement of Profit and Loss. The actuarial
valuation is computed using the projected unit credit
method.

Re-measurements, comprising of actuarial gains
and losses, the effect of the asset ceiling, excluding
amount included in net interest on the net defined

benefit liability and the return on plan assets (excluding
amount included in net interest on the net defined
benefit liability) are recognized immediately in the
Balance Sheet with a corresponding debit or credit to
retained earnings through OCI in the period in which
they occur. Re-measurement is not reclassified to
profit or loss in subsequent periods.

C. Other Employee Benefits (Unfunded)

Leave Encashment is recognized as an expense in the
statement of Profit and Loss account as and when
they accrue. The Company determines the liability
using the projected unit credit method with actuarial
valuations carried out as at Balance Sheet date.

1.14 Revenue Recognition

In accordance with Ind AS 115, the Company
recognizes revenue from sale of products & services
at a time when performance obligations are satisfied
and upon transfer of control of promised products
and services to the customer in an amount that
reflects the consideration, the Company expects to
receive in exchange for their products or services. The
Company disaggregates the revenue based on nature
of products.

Dividend Income

Dividend income is recognized when the right to receive
is established and there is a reasonable certainty of its
collection.

Interest Income

Interest income is recognized using the effective
interest rate method. The effective interest rate is
the rate that exactly discounts estimated future cash
receipts through the expected life of the financial asset
to the gross carrying amount of a financial asset. When
calculating the effective interest rate, the Company
estimates the expected cash flows by considering
all the contractual terms of the financial instruments
(for example, prepayment, extension, call and similar
options) but does not consider the expected credit
loss.

Insurance Income

Income in respect of insurance claims recognized on
acceptance basis or when there is reasonable certainty
that the ultimate collection will be made.

Others

I ncome in respect of other claims and commissions
are measured at fair value and recognized when there
is reasonable certainty that the ultimate collection will
be made.

1.15 Taxes on Income

Income Tax expenses comprise current tax expenses
and the net change in the deferred tax asset or
liabilities during the year. Current and Deferred tax are
recognized in Statement of Profit and Loss, except
when they relate to items that are recognized in Other
Comprehensive Income or directly in equity, in which
case, the current and deferred tax are also recognized
in Other Comprehensive Income or directly in equity
respectively.

Current Tax

The Company provides current tax based on the
provisions of the Income Tax Act, 1961 applicable to
the Company.

Deferred Tax

Deferred tax is recognized using the Balance Sheet
approach. Deferred tax assets and liabilities are
recognized for deductible and taxable temporary
differences arising between the tax base of assets and
liabilities and their carrying amount.

Deferred tax liabilities are recognized for all taxable
temporary differences.

Deferred tax assets are recognized for all deductible
temporary differences, the carry forward of unused
tax credits and any unused tax losses. Deferred tax
assets are recognized to the extent that it is probable
that taxable profit will be available against which
the deductible temporary differences, and the carry
forward of unused tax credits and unused tax losses
can be utilized.

The carrying amount of deferred tax assets is reviewed
at each reporting date and reduced to the extent that it
is no longer probable that sufficient taxable profit will
be available to allow all or part of the deferred tax asset
to be utilized. Unrecognized deferred tax assets are re¬
assessed at each reporting date and are recognized
to the extent that it has become probable that future
taxable profits will allow the deferred tax assets to be
recovered.

Deferred tax assets and liabilities are measured at
the tax rates that are expected to apply in the year
when the asset is realized or liability is settled, based
on tax rates (and tax laws) that have been enacted or
substantially enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are
offset if a legally enforceable right exists to set off
current tax assets against current tax liabilities and the
deferred taxes relate to the same taxable entity and the
same taxation authority.

1.16 Leases

In accordance with Ind AS 116, the Company
recognizes right of use assets representing its right
to use the underlying asset for the lease term at the
lease commencement date. The cost of right of use
asset measured at inception shall comprise of the
amount of the initial measurement of the lease liability
adjusted for any lease payments made at or before
commencement date less any lease incentive received
plus any initial direct cost incurred and an estimate
of cost to be incurred by lessee in dismantling and
removing underlying asset or restoring the underlying
asset or site on which it is located. The right of use asset
is subsequently measured at cost less accumulated
depreciation, accumulated impairment losses, if any,
and adjusted for any re-measurement of lease liability.
The right of use assets is depreciated using the
Straight Line Method from the commencement date
over the shorter of lease term or useful life of right of
use asset. The estimated useful lives of right of use
assets are determined on the same basis as those of
Property, Plant and Equipment. Right of use assets are
tested for impairment whenever there is any indication
that their carrying amounts may not be recoverable.
Impairment loss, if any, is recognized in Statement of
Profit and Loss.

The Company measures the lease liability at the
present value of the lease payments that are not paid at
the commencement date of lease. The lease payments
are discounted using the interest rate implicit in the
lease, if that rate can be readily determined. If that
rate cannot be readily determined, the Company uses
incremental borrowing rate.

The lease liability is subsequently re-measured by
increasing the carrying amount to reflect interest
on lease liability, reducing the carrying amount to
reflect the lease payments made and re-measuring
the carrying amount to reflect any reassessment or
lease modification or to reflect revised-in-substance
fixed lease payments. The Company recognizes
amount of re-measurement of lease liability due to
modification as an adjustment to write off use asset
and statement of profit and loss depending upon the
nature of modification. Where the carrying amount
of right of use assets is reduced to zero and there is
further reduction in measurement of lease liability, the
Company recognizes any remaining amount of the re¬
measurement in Statement of Profit and Loss.

The Company has elected not to apply the
requirements of Ind AS 116 to short term leases of
all assets that have a lease term of 12 months or less
unless renewable on long term basis and leases for
which the underlying asset is of low value. The lease
payments associated with these leases are recognized
as an expense over lease term.

1.17 Foreign exchange transactions

Foreign currency transactions are accounted for at the
exchange rate prevailing on the date of the transaction.
All monetary foreign currency assets and liabilities
are converted at the exchange rates prevailing at the
reporting date. All exchange differences arising on
translation of monetary items are dealt with in the
Statement of Profit and Loss.

(d) Term/ rights attached to equity shares

The Company has Two types of Shares i.e. Equity Shares Capital and 9% Compulsorily Redeemable Preference shares.
The Equity share capital is having face value of '' 1 each and Compulsorily Redeemable Preference share has face value
of '' 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends
in Indian rupees.The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting. The Compulsorily Redeemable Preference shares have not been issued
The repayment of Equity share capital in the event of Liquidation and buy back of Shares are possible subject to prevalent
regulations. In the event of Liquidation, normally the equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amount, in proportion of shareholding.

(e) During the year ended 31^st March, 2024, the Company have issued 3,14,35,500 number of shares@ '' 5 each aggregate to
'' 1,571.78 Lakhs as Bonus Shares to the existing shareholders of the Company in ratio of 1:1.

2,69,35,500 Equity shares of '' 5 each aggregated to '' 1,346.78 Lakhs were issued to equity shareholder of Kamdhenu
Limited in previous financial year ended 31^st March, 2023 as part of scheme of Demerger approved by Hon’ble NCLT
Chandigarh. Except above, the Company has not allotted any fully paid up shares pursuant to contract without payment
being received in cash. Except for Bonus shares issued in financial year 2023-24 as explained above, the Company has
neither allotted any fully paid up shares by way of bonus shares nor has brought back any class of shares during the period
of 5 years immediately preceding the balance sheet date.

Nature and purposes of Reserves forming part of other equity are as under :

(a) Other Reserve: Surplus arising on de-merger (being excess of deemed investment over aggregate face value of new
equity and preference shares issued by the Company to the shareholders of Kamdhenu Limited (transferee Company) is
other Reserve and is not available for distribution as dividend.

(b) Securities Premium Account: Securities Premium is the amount received in excess of face value of equity shares at the
time of issue of Capital and can be used for the purposes as mentioned in section 52(2) of the Companies Act, 2013.

(c) Retained Earnings: This represents accumulated earnings (losses) by the Company as at balance sheet date.

During the year ended 31^st March, 2025, The Board of Directors of Company at their meeting held on 3^rd April, 2024, had
considered and approved Sub-division/Split of Equity Shares of Company in the ratio of (1:5) that is each shareholder having
One Equity Share of face value of '' 5 (Rupees Five) each shall get Five Equity Shares of face value of Re. 1 (Rupee One) each and
the aforesaid Sub-division/split was duly approved by the Shareholders of the Company by way of Postal Ballot on Saturday,
11^th May, 2024. Basic and diluted Earnings per share have been retrospectively adjusted for all previous period presented by
giving effect of such Sub-division/Split of Equity Shares.

Capital Commitments and obligation: NIL

There are no employees in the Company, hence, disclosure as per "Ind AS-19 Employees Benefits" have not been given.
FINANCIAL RISK MANAGEMENT

The Company’s activities expose it to variety of financial risks viz. commodity price risk, credit risk, liquidity risk and capital
risk. These risks are managed by the senior management of the Company supervised by the Board of Directors to minimize
potential adverse effects on the financial performance of the Company.

i) Commodity Risk

There is no commodity risk.

ii) Credit Risk

There is no credit risk element involved.

iii) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash and another financial asset. The Company’s approach to managing liquidity is
to ensure as far as possible that it will have sufficient liquidity to meet its liabilities when they are due, under both normal
and stressed condition, without incurring unacceptable losses or risking damage to the Company’s reputation.

The Company’s objective is to maintain a balance between continuity of funding and flexibility through the use of surplus
funds. The Company considers liquidity risk as low risk.

iv) Interest Rate Risk

Interest rate is the risk that fair value or future cash flows of a financial instrument will fluctate because of changes in
interest rate. The Company has not taken term loan and working capital limits from bank.

v) Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross
and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

vi) Capital Management

The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and
to sustain future development of the business.

The Company monitors capital using gearing ratio which is net debt divided by total equity. The Company do not have any
borrowing from bank/financial institutions hence there is no capital risk.

During the previous year ended 31^st March, 2024, the Company issued 45,00,000 equity shares of '' 5 each to Qualified
Institutional Buyers (QIBs) at the rate of '' 145 per share (i.e. at premium of '' 140/- per share) aggregated to '' 6,525 Lakhs. The
proceeds from issue of equity shares of '' 6,525 Lakhs have been utilized as under:-

During the previous year ended 31^st March, 2024, the Company invested in 0.01% Optionally Convertible Redeemable Preference
Shares ("OCRPS") on rights basis issued by its subsidiary company namely Kamdhenu Colour and Coatings Limited at an
issue price of '' 100 per OCRPS (including premium of '' 90 per OCRPS) aggregated to '' 5,776.00 Lakhs. The put option for
redemption/conversion is available with Company subject to applicable provisions of Companies Act, 2013, after expiry of 3
months from the date of allotment but before the expiry of tenure of 10 years from the date of allotment. The Company have
not exercised put option as at 31^st March, 2025.

No funds have been advanced/loaned/invested (from borrowed fund or from share premium or from any other sources/kind
of fund) by the Company to 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 peron
or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or (ii) provide any
guarantee, security or like to or on behalf of the Ultimate Beneficiaries.

No funds have been received by the Company 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.

The Indian parliament has approved the Code of Social Security, 2020 which would impact the contribution by the Company
towards providend fund and gratuity. The Ministry of Labour and Employment has relesed draft rules for Code on Social Security,
2020 on 13^th November, 2020. The Company will assess the impact and its evaluation once the subject rules are notified. The
Company will give appropriate impact in its financial statement in the period in which, the code become effective and the related
rules to determine the financial impact are published.

Additional regulatory information required by Schedule-III of Companies Act 2013

1) Relationship with struck off Companies: The Company do not have any relationship with companies struck off under
section 248 of Companies Act 2013 or Section 560 of Companies Act 1956.

2) Details of Benami Property: No proceedings have been initiated or are pending against the Company for holding any
Benami property under Benami Transactions (Prohibition) Act 1988 and the Rules made thereunder.

3) Compliance with numbers of layer of Companies: The Company has complied with the number of layers prescribed
under Companies Act 2013.

4) Compliance with approved Scheme of Arrangement: There is no Scheme of arrangement approved by the Competent
Authority in terms of section 230 to 237 of Companies Act 2023 in the current financial ended 31^st March, 2025

5) Undisclosed Income: There is no income surrendered or disclosed as income during current or previous year in the tax
assessment under the Income Tax Act 1961 that has not been recorded in books of accounts.

6) Details of Crypto Currency or Virtual Currency: The Company has not traded or invested in crypto currency or virtual
currency during the current or previous year.

7) Registration of Charges: There are no charges or satisfaction of charge which are yet to be registered with ROC beyond
the statutory period.

8) Wilful Defaulter: The Company has not been declared a wilful defaulter by any bank or financial institution or government
or any government authorities during the year ended 31^st March, 2025.

9) Audit Trail: The Company has used an accounting software for maintaining its books of account for the financial year
ended March 31,2025 which has a feature of recording audit trail (edit log) facility and the same has been operating for all
relevant transactions recorded in the software. Although, the accounting software has inherent limitation, there were no
instances of the audit trail feature been tempered and the audit trail has been preserved by the Company as per statutory
requirements for record retention.

Previous year figures are regrouped or rearranged where necessary.

The accompanying notes are an integral part of the Standalone Financial Statements.

As per our separate report of even date annexed here with.

For M.C. BHANDARI & Co. For and on behalf of board of directors of

Chartered Accountants Kamdhenu Ventures Limited

FRN:303002E

Sd/- Sd/- Sd/-

Ravindra Bhandari Sunil Kumar Agarwal Vineet Kumar Agarwal

Partner Chairman Chief Financial Officer

Membership Number: 097466 DIN: 00005973

Sd/-

Date: 8^th May, 2025 Nikhil Sukhija

Place: Gurugram Company Secretary

---

Mar 31, 2024

1.12 Provisions, Contingent liabilities, Contingent Assets

A provision is recognized when an enterprise has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are measured at the present value of management''s best estimate of the expenditure required to settle the present obligations at the end of the reporting period. 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 changes in the provision due to the passage of time are recognized as an interest cost.

Contingent liabilities are disclosed in the case of:

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

b) a present obligation arising from the past events, when no reliable estimate is possible; and

c) a possible obligation arising from past events, unless the probability of outflow of resources is remote.

Contingent assets are not recognized but disclosed in the standalone financial statements when an inflow of economic benefit is probable.

1.13 Employee Benefits

A. Defined Contribution Plans

Retirement benefit in the form of contribution to provident fund and pension fund are charged to statement of Profit and Loss.

B. Defined Benefit Plan (Unfunded)

Gratuity is the nature of a defined benefit plan.

Provision for gratuity is calculated on the basis of actuarial valuation carried out at reporting date and is charged to statement of Profit and Loss. The actuarial valuation is computed using the projected unit credit method.

Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amount included in net interest on the net defined benefit liability and the return on plan assets (excluding amount included in net interest on the net defined benefit liability) are recognized immediately in the Balance Sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Re-measurement is not reclassified to profit or loss in subseguent periods.

C. Other Employee Benefits (Unfunded)

Leave Encashment is recognized as an expense in the statement of Profit and Loss account as and when they accrue. The Company determines the liability using the projected unit credit method with actuarial valuations carried out as at Balance Sheet date.

1.14 Revenue Recognition

In accordance with Ind AS 115, the Company recognizes revenue from sale of products & services at a time when performance obligations are satisfied and upon transfer of control of promised products and services to the customer in an amount that reflects the consideration, the Company expects to receive in exchange for their products or services. The Company disaggregates the revenue based on nature of products.

Dividend Income

Dividend income is recognized when the right to receive is established and there is a reasonable certainty of its collection.

Interest Income

Interest income is recognized using the effective interest rate method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial instruments (for example, prepayment, extension, call and similar options) but does not consider the expected credit loss.

Insurance Income

Income in respect of insurance claims recognized on acceptance basis or when there is reasonable certainty that the ultimate collection will be made.

Others

I ncome in respect of other claims and commissions are measured at fair value and recognized when there is reasonable certainty that the ultimate collection will be made.

1.15 Taxes on Income

Income Tax expenses comprise current tax expenses and the net change in the deferred tax asset or liabilities during the year. Current and Deferred tax are recognized in Statement of Profit and Loss, except when they relate to items that are recognized in Other Comprehensive Income or directly in equity, in which case, the current and deferred tax are also recognized

in Other Comprehensive Income or directly in equity respectively.

Current Tax

The Company provides current tax based on the provisions of the Income Tax Act, 1961 applicable to the Company.

Deferred Tax

Deferred tax is recognized using the Balance Sheet approach. Deferred tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount.

Deferred tax liabilities are recognized for all taxable temporary differences.

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax assets to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or liability is settled, based on tax rates (and tax laws) that have been enacted or substantially enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

1.16 Leases

In accordance with Ind AS 116, the Company recognizes right of use assets representing its right

to use the underlying asset for the lease term at the lease commencement date. The cost of right of use asset measured at inception shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before commencement date less any lease incentive received plus any initial direct cost incurred and an estimate of cost to be incurred by lessee in dismantling and removing underlying asset or restoring the underlying asset or site on which it is located. The right of use asset is subsequently measured at cost less accumulated depreciation, accumulated impairment losses, if any, and adjusted for any re-measurement of lease liability. The right of use assets is depreciated using the Straight Line Method from the commencement date over the shorter of lease term or useful life of right of use asset. The estimated useful lives of right of use assets are determined on the same basis as those of Property, Plant and Eguiprnent. Right of use assets are tested for impairment whenever there is any indication that their carrying amounts may not be recoverable. Impairment loss, if any, is recognized in Statement of Profit and Loss.

The Company measures the lease liability at the present value of the lease payments that are not paid at the commencement date of lease. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Company uses incremental borrowing rate.

The lease liability is subsequently re-measured by increasing the carrying amount to reflect interest on lease liability, reducing the carrying amount to reflect the lease payments made and re-measuring the carrying amount to reflect any reassessment or lease modification or to reflect revised-in-substance fixed lease payments. The Company recognizes amount of re-measurement of lease liability due to modification as an adjustment to write off use asset and statement of profit and loss depending upon the nature of modification. Where the carrying amount of right of use assets is reduced to zero and there is further reduction in measurement of lease liability, the Company recognizes any remaining amount of the remeasurement in Statement of Profit and Loss.

The Company has elected not to apply the requirements of Ind AS 116 to short term leases of all assets that have a lease term of 12 months or less unless renewable on long term basis and leases for which the underlying asset is of low value. The lease payments associated with these leases are recognized as an expense over lease term.

1.17 Foreign exchange transactions

Foreign currency transactions are accounted for at the exchange rate prevailing on the date of the transaction. All monetary foreign currency assets and liabilities are converted at the exchange rates prevailing at the reporting date. All exchange differences arising on translation of monetary items are dealt with in the Statement of Profit and Loss.

(d) Term/ rights attached to equity shares

The Company has Two types of Shares i.e. Equity Shares Capital and 9% Compulsorily Redeemable Preference shares. The Equity share capital is having face value of '' 5 each and Compulsorily Redeemable Preference share has face value of '' 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. The Compulsorily Redeemable Preference shares have not been issued.

The repayment of Equity share capital in the event of Liquidation and buy back of Shares are possible subject to prevalent regulations. In the event of Liquidation, normally the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amount, in proportion of shareholding.

(e) During the year ended 31^st March, 2024, the company have issued 3,14,35,500 number of shares @ '' 5 each aggregated to '' 1,571.78 Lakhs as Bonus Shares to the existing shareholders of the company in ratio of 1:1. 2,69,35,500 Equity shares of '' 5 each aggregated to '' 1,346.78 Lakhs were issued to equity shareholder of Kamdhenu Limited in previous financial year ended 31^st March, 2023 as part of scheme of Demerger approved by Hon’ble NCLT Chandigarh, Except above, the company has not allotted any fully paid up shares pursuant to contract without payment being received in cash, Except for Bonus shares issued in financial year 2023-24 as explained above, the company has neither allotted any fully paid up shares by way of bonus share nor has brought back any class of shares during the period of 5 years immediately preceding the balance sheet date.

i) Commodity Risk

The Company is primarily engaged in the business of trading and therefore presently there is no commodity risk.

ii) Credit Risk

The Company is primarily engaged in trading business. The item traded are purchased on credit and are sold on credit at varying credit terms, hence there is no credit risk element involved.

iii) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash and another financial asset. The Company''s approach to managing liquidity is to ensure as far as possible that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed condition, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company’s objective is to maintain a balance between continuity of funding and flexibility through the use of surplus funds. The Company considers liquidity risk as low risk.

iv) Interest Rate Risk

Interest rate is the risk that fair value or future cash flows of a financial instrument will fluctate because of changes in interest rate. The Company has not taken term loan and working capital limits from bank. The Company has taken interest bearing loan from subsidiary Company.

During the year ended 31^st March, 2024, the Company invested in 0.01% Optionally Convertible Redeemable Preference Shares ("OCRPS") on rights basis issued by its subsidiary company namely Kamdhenu Colour and Coatings Limited at an issue price of '' 100 per OCRPS (including premium of '' 90 per OCRPS) aggregated to '' 5,776.00 Lakhs. The put option for redemption/ conversion is available with Company subject to applicable provisions of Companies Act, 2013, after expiry of 3 months from the date of allotment but before the expiry of tenure of 10 years from the date of allotment. The Company have not exercised put option as at 31^st March, 2024.

No funds have been advanced/loaned/invested (from borrowed fund or from share premium or from any other sources/kind of fund) by the Company to 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 peron or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or like to or on behalf of the Ultimate Beneficiaries. No funds have been received by the Company 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.

The Indian parliament has approved the Code of Social Security, 2020 which would impact the contribution by the Company towards providend fund and gratuity. The Ministry of Labour and Employment has relesed draft rules for Code on Social Security, 2020 on 13^th November, 2020. The Company will assess the impact and its evaluation once the subject rules are notified. The Company will give appropriate impact in its financial statement in the period in which, the code become effective and the related rules to determine the financial impact are published.

ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE-III OF COMPANIES ACT 2013

1) Relationship with struck off Companies: The Company do not have any relationship with companies struck off under section 248 of Companies Act 2013.

2) Details of Benami Property: No proceedings have been initiated or are pending against the Company for holding any Benami property under Benami Transactions (Prohibition) Act 1988 and the Rules made thereunder.

3) Compliance with numbers of layer of Companies: The Company has complied with the number of layers prescribed under Companies Act 2013.

4) Compliance with approved Scheme of Arrangement: There is no Scheme of arrangement approved by the Competent Authority in terms of section 230 to 237 of Companies Act 2013 in the current financial year ended 31^st March, 2024, however in respect of scheme of arrangement duly approved by Hon’ble NCLT, Chandigarh bench in previous financial year, the effect of such scheme of arrangement was accounted for in the books of company in accordance with the scheme and accounting standards in previous financial year ended 31^st March, 2023.

5) Undisclosed Income: There is no income surrendered or disclosed as income during current or previous year in the tax assessment under the Income Tax Act 1961 that has not been recorded in books of accounts.

6) Details of Crypto Currency or Virtual Currency: The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

7) Registration of Charges: There are no charges or satisfaction of charges which are yet to be registered with ROC beyond the statutory period.

8) Wilful Defaulter: The Company has not been declared a wilful defaulter by any bank or financial Institution or government or any government authorities during the year.

9) Audit Trail : The Company has used an accounting software for maintaining its books of account for the financial year ended March 31,2024 which has a feature of recording audit trail (edit log) facility and the same has been operating for all relevant transactions recorded in the software. Although the accounting software has inherent limitation, there were no instances of the audit trail feature been tempered.

Subsequent to 31^st March, 2024, Authorized Share Capital and Issued, Subscribed & Paidup share capital of the Company have been sub divided/split from '' 5 per share to '' 1 per share in meeting of Board of Directors of the Company held on 3^rd April, 2024 subject to approval of shareholders of the Company by postal ballot. The effect of such split/sub-division from 5 per share to '' 1 per share shall be taken post shareholder approval in next financial year.

Previous year figures are regrouped or rearranged where necessary.

The accompanying notes are an integral part of the Standalone Financial Statements.

As per our separate report of even date annexed here with.

For M.C. BHANDARI & Co. For and on behalf of Board of Directors of

Chartered Accountants Kamdhenu Ventures Limited

FRN:303002E

Sd/- Sd/- Sd/-

Ravindra Bhandari Sunil Kumar Agarwal Saurabh Agarwal

Partner Chairman Managing Director

Membership Number: 097466 DIN: 00005973 DIN: 00005970

Sd/- Sd/-

Date: 7^th May, 2024 Vineet Kumar Agarwal Nitin Misra

Place: Gurugram Chief Financial Officer Company Secretary

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Mar 31, 2023

1.13 Provisions, Contingent liabilities, Contingent Assets

A provision is recognized when an enterprise has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are measured at the present value of management''s best estimate of the expenditure required to settle the present obligations at the end of the reporting period. 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 changes in the provision due to the passage of time are recognized as an interest cost. Contingent liabilities are disclosed in the case of:

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

b) a present obligation arising from the past events, when no reliable estimate is possible; and

c) a possible obligation arising from past events, unless the probability of outflow of resources is remote.

Contingent assets are not recognized but disclosed in the standalone financial statements when an inflow of economic benefit is probable.

1.14 Employee Benefits

A. Defined Contribution Plans

Retirement benefit in the form of contribution to provident fund and pension fund are charged to statement of Profit and Loss.

B. Defined Benefit Plan (Unfunded)

Gratuity is the nature of a defined benefit plan.

Provision for gratuity is calculated on the basis of actuarial valuation carried out at reporting date and is charged to statement of Profit and Loss. The actuarial valuation is computed using the projected unit credit method.

Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amount included in net interest on the net defined benefit liability and the return on plan assets (excluding amount included in net interest on the net defined benefit liability) are recognized immediately in the Balance Sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur. Re-measurement is not reclassified to profit or loss in subsequent periods.

C. Other Employee Benefits (Unfunded)

Leave Encashment is recognized as an expense in the statement of Profit and Loss account as and when they accrue. The Company determines the liability using the projected unit credit method with actuarial valuations carried out as at Balance Sheet date.

1.15 Revenue Recognition

In accordance with Ind AS 115, the Company recognizes revenue from sale of products & services at a time when performance obligations are satisfied and upon transfer of control of promised products and services to the customer in an amount that reflects the consideration, the Company expects to receive in exchange for their

products or services. The Company disaggregates the revenue based on nature of products.

Dividend Income

Dividend income is recognized when the right to receive is established and there is a reasonable certainty of its collection.

Interest Income

Interest income is recognized using the effective interest rate method. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial instruments (for example, prepayment, extension, call and similar options) but does not consider the expected credit loss.

Insurance Income

Income in respect of insurance claims recognized on acceptance basis or when there is reasonable certainty that the ultimate collection will be made.

Others

Income in respect of other claims and commissions are measured at fair value and recognized when there is reasonable certainty that the ultimate collection will be made.

1.16 Taxes on Income

Income Tax expenses comprise current tax expenses and the net change in the deferred tax asset or liabilities during the year. Current and Deferred tax are recognized in Statement of Profit and Loss, except when they relate to items that are recognized in Other Comprehensive Income or directly in equity, in which case, the current and deferred tax are also recognized in Other Comprehensive Income or directly in equity respectively.

Current Tax

The Company provides current tax based on the provisions of the Income Tax Act, 1961 applicable to the Company.

Deferred Tax

Deferred tax is recognized using the Balance Sheet approach. Deferred tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount.

Deferred tax liabilities are recognized for all taxable temporary differences.

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax assets to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or liability is settled, based on tax rates (and tax laws) that have been enacted or substantially enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

1.17 Earnings Per Share

Basic earnings per share are calculated by dividing the profit after tax or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. In case there are any dilutive securities during the period presented, the impact of the same is given to arrive at diluted earnings per share

1.18 Segment Reporting

The operating segments have been identified on the basis of nature of products and the same are accordingly evaluated by the Manager and Board of Directors. The Company''s primary operating segment is steel business.

1.19 Leases

In accordance with Ind AS 116, the Company recognizes right of use assets representing its right to use the underlying asset for the lease term at the lease commencement date. The cost of right of use asset measured at inception shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before commencement date less any lease incentive received plus any initial direct cost incurred and an estimate of cost to be incurred by lessee in dismantling and removing underlying asset or restoring the underlying asset or site on which it is located. The right of use asset is subsequently measured at cost less accumulated depreciation, accumulated impairment losses, if any, and adjusted for any re-measurement of lease liability. The right of use assets is depreciated using the Straight Line Method from the commencement date over the shorter of lease term or useful life of right of use asset. The estimated useful lives of right of use assets are determined on the same basis as those of Property, Plant and Equipment. Right of use assets are tested for impairment whenever there is any indication that their carrying amounts may not be recoverable. Impairment loss, if any, is recognized in Statement of Profit and Loss.

The Company measures the lease liability at the present value of the lease payments that are not paid at the commencement date of lease. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Company uses incremental borrowing rate.

The lease liability is subsequently re-measured by increasing the carrying amount to reflect interest on lease liability, reducing the carrying amount to reflect the lease payments made and re-measuring

the carrying amount to reflect any reassessment or lease modification or to reflect revised-in-substance fixed lease payments. The Company recognizes amount of re-measurement of lease liability due to modification as an adjustment to write off use asset and statement of profit and loss depending upon the nature of modification. Where the carrying amount of right of use assets is reduced to zero and there is further reduction in measurement of lease liability, the Company recognizes any remaining amount of the remeasurement in Statement of Profit and Loss.

The Company has elected not to apply the requirements of Ind AS 116 to short term leases of all assets that have

a lease term of 12 months or less unless renewable on long term basis and leases for which the underlying asset is of low value. The lease payments associated with these leases are recognized as an expense over lease term.

1.20 Foreign exchange transactions

Foreign currency transactions are accounted for at the exchange rate prevailing on the date of the transaction. All monetary foreign currency assets and liabilities are converted at the exchange rates prevailing at the reporting date. All exchange differences arising on translation of monetary items are dealt with in the Statement of Profit and Loss.

ii) Credit Risk

The Company is primarily engaged in trading business. The item traded are purchase on credit and are sold on credit at varying credit terms, hence there is no credit risk element involved.

iii) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash and another financial asset. The Company''s approach to managing liquidity is to ensure as far as possible that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed condition, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use of surplus funds. The Company considers liquidity risk as low risk.

iv) Interest Rate Risk

Interest rate is the risk that fair value or future cash flows of a financial instrument will fluctate because of changes in interest rate. The Company has not taken term loan and working capital limits from bank. The Company has taken interest bearing loan from subsidiary Company.

STANDARDS ISSUED AND AMENDED BUT NOT EFFECTIVE

The Ministry of Corporate Affairs (MCA) notifies new Indian Accounting Standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On 23^rd March, 2023, MCA amended the Companies (Indian Accounting Standards) Rules, 2015 by isssuing the Companies (Indian Accounting Standards) Amendment Rules, 2023 applicable from 1^st April, 2023, as below:

IND AS 1- Presentation of Financial Statements - The amendments requires companies to disclose their material accounting policy rather than their significant accounting policies. Accounting policy information, together with other information, is material when it can reasonably be expected to influence decisions of primary users of general purpose financial statements. The Company does not expect this amendment to have any significant impact in its financial statement.

IND AS 12- Income Taxes - The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transaction that, on initial recognition, give raise to equal taxable and deductible temporary differences. The Company is evaluating the impact, if any, in its financial statements.

Ind AS 8- Accounting Policies, Changes in Accounting Estimates and Errors - The amendments will help entities to distinguish between accounting policies and accounting estimates, the definition of a change in accounting estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statement that are subject to measurement uncertainty”. Entities develop accounting estimates if accounting policies require item in financial statement to be measured in a way that involves measurement uncertainty. The Company does not expect this amendment to have any significant impact in its financial statements.

No funds have been advanced/loaned/invested (from borrowed fund or from share premium or from any other sources/kind of fund) by the Company to any er 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 peron or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or like to or on behalf of the Ultimate Beneficiaries.

No funds have been received by the Company 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.

The Indian parliament has approved the Code of Social Security, 2020 which would impact the contribution by the Company towards providend fund and gratuity. The Ministry of Labour and Employment has relesed draft rules for Code on Social Security, 2020 on 13^th November, 2020. The Company will assess the impact and its evaluation once the subject rules are notified. The Company will give appropriate impact in its financial statement in the period in which, the code become effective and the related rules to determine the financial impact are published.

ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE-III OF COMPANIES ACT 2013

1) Relationship with struck off Companies: The Company do not have any relationship with companies struck off under section 248 of Companies Act 2013 or Section 560 of Companies Act 1956.

2) Details of Benami Property: No proceedings have been initiated or are pending against the Company for holding any Benami property under Benami Transactions (Prohibition) Act 1988 and the Rules made thereunder.

3) Compliance with numbers of layer of Companies: The Company has complied with the number of layers prescribed under Companies Act 2013.

4) Compliance with approved Scheme of Arrangement: In pursuance of scheme of arrangement duly approved by Hon''ble NCLT of Chandigarh from appointed date of 1st April 2022, the Company have taken accounting impact in current year in accordance with accounting treatment given in the Scheme and no deviation was observed (Refer Note 22).

5) Undisclosed Income: There is no income surrendered or disclosed as income during current or previous year in the tax assessment under the Income Tax Act 1961 that has not been recorded in books of accounts.

6) Details of Crypto Currency or Virtual Currency: The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

7) Registration of Charges: There are no charges or satisfaction of charge which are yet to be registered with ROC beyond the statutory period.

8) Wilful Defaulter: The Company has not been declared a wilful defaulter by any bank or financial institution or government or any government authorities during the year.

There are no events after reporting date requiring disclosure.

Previous year figures are regrouped or rearranged where necessary.

The accompanying notes are an integral part of the financial statements.

As per our separate report of even date annexed herewith

For M.C. BHANDARI & Co. For and on behalf of board of directors of

Chartered Accountants Kamdhenu Ventures Limited

FRN:303002E

Ravindra Bhandari Sunil Kumar Agarwal Saurabh Agarwal

Partner Chairman Managing Director

Membership Number: 097466 DIN: 00005973 DIN: 00005970

Date: 18^th May, 2023 Vineet Kumar Agarwal Nitin Misra

Place: Gurugram Chief Financial Officer Company Secretary