4. Provisions, Contingent Liabilities and Contingent Assets : -

Provisions involving substantial degree of estimation in measurement are recognised when there is a
present obligation as a result of past events and it is probable that there will be an outflow of resources.
Contingent liabilities are generally not provided for in the books of accounts and are separately shown
in the financial statements.

5. Earning Per Share (EPS) :-

The Company reports Basic earnings per equity share in accordance with the Accounting Standard - 20
on Earning Per Share. In determining earning per share, the Company considers the net profit after tax
and includes the post tax effect of any extraordinary/exceptional items. The number of shares used in
computing basic earning per share is the weighted average number of equity shares outstanding during
the period. The numbers of shares used in computing diluted earning per share comprises the weighted
average number of equity shares that would have been issued on the conversion of all potential equity

6. Segment Reporting :-

The Company has carried on the business of the work to design, engineer, procure, finance, construct,
operate and maintain Funicular Ropeway on Build, Operate & Transfer (BOT) basis at Saptashrungi
Gad, Vani, Kalwan, Nashik, and to charge and collect the toll fees during the year, thus there is only one
business segment. Hence segment reporting is not provided.

There is no geographical segment.

7. Investments :-

Investments thatare readilyrealisableand intendedtobeheld fornotmorethanayearareclassifiedascurrent
investments. All other investments are classified as long-term investment. Current investment are carried at
lower of costand fair value determined on an individual i tem basis. Long-term investmentsare carried atcost.
However, provision for diminution in value is made to recognise a decline other than temporary in the
value of the investments.

8. Borrowing Cost :-

Borrowing Cost includes Interest and Other Cost incurred in connection with the borrowing of funds.

Borrowing Cost that are directly attributable to the construction of a qualifying asset is capitalized as
Cost of the respective asset.

9. Income Tax :-

Income tax comprises current and deferred tax. Income tax expense is recognized in the statement of
profit and loss.

10. Employee Benefit :-

The Company has not made any provision in respect of Retirement Benefits of Employees & the
expenditure claimed if any is on basis of actual payment made during the year.

11 Income Tax

- Current Income Tax

The Company is in Tax Holiday - Deduction under section 80-IA of the Income Tax Act, 1956. Hence,
no provision for current income tax is made during the year.

- Deferred Income Tax

Deferred income 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 in financial
statements, except when the deferred income tax arises from the initial recognition of goodwill or an
asset or liability in a transaction that is not a business combination and affects neither accounting nor
taxable profits or losses at the time of the transaction. Deferred income 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.

Deferred income tax liabilities are recognized for all taxable temporary differences. The carrying amount
of deferred income 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 income
tax asset to be utilized. Deferred income tax assets and liabilities are measured at the tax rates that are
expected to apply in the period when the asset is realized or the liability is settled, based on tax rates
(and tax laws) that have been enacted or substantively enacted at the reporting date.

12. Employee Benefit :-

The Company has not made any provision in respect of Retirement Benefits of Employees & the
expenditure claimed if any is on basis of actual payment made during the year.

13. Previous year figures have been re-grouped / re-classified wherever necessary to correspond with the
current year's classification / disclosures.

As per our report of even date attached For & on behalf of Board of Directors

herewith

For Aniket Kulkarni & Associates (Rajkumar Gurbaxani) (Shivshankar Lature)

Chartered Accountants Director Director

FRN -130521W DIN :- 00324101 DIN :- 02090972

CA Esha Sawant (Amey Dhananjay Bodas) (Jagadamma P. Wandhare)

Partner Company Secretary Chief Financial Officer

M no-135225 M. No. :- A50027 PAN:-AAEPW4616L

Date- May 27^th 2025
UDIN-25135225BM1OPB7865