k) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
The expense relating to any provision is presented in the statement of profit or loss, net of any
reimbursement. If the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting
is used, the increase in the provision due to the passage of time is recognised as part of finance costs.

l) Contingent Liability

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not probable that an
outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be measured
reliably. The Company does not recognize a contingent liability but discloses its existence in the financial
statements.

m) Cash and cash equivalents

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

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short¬
term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral
part of the Company's cash management.

n) Investments and other financial assets

(i) Classification

The Company classifies its financial assets in the following measurement categories:

(1) Those to be measured subsequently at fair value (either through other comprehensive income, or
through the Statement of Profit and Loss), and

(2) Those measured at amortised cost.

The classification depends on the Company's business model for managing the financial assets and the
contractual terms of the cash flows.

(ii) Measurement

At initial recognition, the Company measures a financial asset at its fair value. Transaction costs of
financial assets carried at fair value through the Profit and Loss are expensed in the Statement of Profit
and Loss.

Debt Instruments: Subsequent measurement of debt instruments depends on the Company's business
model for managing the asset and the cash flow characteristics of the asset. The Company classifies its
debt instruments into following categories:

Amortised Cost: Assets that are held for collection of contractual cash flows where those cash flows
represent solely payments of principal and interest are measured at amortised cost. Interest income
from these financial assets is included in other income using the effective interest rate method.

Fair value through profit and loss: Assets that do not meet the criteria for amortised cost are measured
at fair value through Profit and Loss. Interest income from these financial assets is included in other
income.

Equity instruments:

The Company measures its equity investment other than in subsidiaries, joint ventures and associates at
fair value through profit and loss.

(iii) Impairment of financial assets

The Company measures the expected credit loss associated with its assets based on historical trend,
industry practices and the business environment in which the entity operates or any other appropriate
basis. The impairment methodology applied depends on whether there has been a significant increase in
credit risk.

o) Earnings Per Share
Basic earnings per share

Basic earnings per share is calculated by dividing:

- The profit attributable to owners 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 earnings per shares

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to
take into account:

- 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.

In accordance with Accounting Standard Ind AS 108 'Operating Segment' the Company has only
one reportable business segment and have only one reportable geographic segment in India.

28. Capital Risk Management:

The Company aim to manage its capital efficiently so as to safeguard its ability to continue as a
going concern and to optimise returns to our shareholders.

The capital structure of the Company is based on management's judgement of the appropriate
balance of key elements in order to meet its strategic and day-to-day needs. We consider the
amount of capital in proportion to risk and manage the capital structure in light of changes in

economic conditions and the risk characteristics of the underlying assets. In order to maintain
or adjust the capital structure, the Company may adjust the amount of dividends paid to
shareholders, return capital to shareholders or issue new shares.

The Company's policy is to maintain a stable and strong capital structure with a focus on total
equity so as to maintain investor, creditors and market confidence and to sustain future
development and growth of its business. The Company will take appropriate steps in order to
maintain, or if necessary adjust, its capital structure.

29. Contingent Liabilities: Nil (Previous Year - Nil)

30. Financial risk management objectives and policies

The Company's principal financial liabilities comprise trade and other payables. The main
purpose of these financial liabilities is to finance the Company's operations. The Company's
principal financial assets include loans, trade and other receivables, and cash and cash
equivalents that derive directly from its operations.

The Company's activities expose it to a variety of financial risks: market risk, credit risk and
liquidity risk. The Company's focus is to foresee the unpredictability of financial markets and
seek to minimize potential adverse effects on its financial performance.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will
fluctuate because of changes in market prices. Market risk comprises three types of risk:
interest rate risk, currency risk and other price risk, such as equity price risk and commodity
risk.

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument
or customer contract, leading to a financial loss. The Company is exposed to credit risk from its
operating activities (primarily trade receivables and deposits to landlords) and from its
financing activities. The Company generally doesn't have collateral.

Trade Receivables and Security Deposits

Customer credit risk is managed by business through the Company's established policy,
procedures and control relating to customer credit risk management. Credit quality of each
customer is assessed and credit limits are defined in accordance with this assessment.
Outstanding customer receivables and security deposits are regularly monitored.

Liquidity Risk

The company's principal source of liquidity is cash and cash equivalents and the cash flow that
is generated from operations. The company has no outstanding bank borrowings. The company
believes that the working capital is sufficient to meet its current requirements. Accordingly, no
liquidity risk is perceived.

31. Certain Balances of parties under sundry debtors, creditors, loans and advances are subject
to confirmations/reconciliation.

32. There was no expenditure/earning in Foreign Currency during the year.

For and on behalf of Osiajee Texfab
For S C Mehra & Associates LLP Limited

Chartered Accountants
Firm Reg. No : 106156W/W100305

Sd/- Sd/- Sd/-

(CA S C Mehra) (Reema Saroya) (Vibha Jain)

Partner Managing Director Director

M. No: 039730 DIN: 08292397 DIN: 03289773

UDIN: 24039730BKAOXV1492

Sd/- Sd/-

(Hemant Chavan) (Twinkle Narula)

Chief Financial Officer Company Secretary

Sd/-

Place : Hoshiarpur (Vikas Jain)

Date: April 22, 2024 Chief Executive Officer