2.10 Provisions

Provisions are recognized 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. When the Entity expects some or all of a provision to be reimbursed, for
example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement
is virtually certain. The expense relating to a provision is presented in the statement of profit and 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, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost.

2.11 Employee Benefits

(i) Short-term obligations-

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months
after the end of the period in which the employees render the related service are recognized in respect of employees'
services up to the end of the reporting year and are measured at the amounts expected to be paid when the liabilities are
settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

(ii) Post-employment obligations-

The Company operates the following post-employment schemes:

(a) Defined benefit plans such as gratuity; and

(b) Defined contribution plans such as provident fund and ESI.

Gratuity obligations-

The liability or asset recognized in the balance sheet in respect of defined benefit plan as calculated arithmetically by
management.

Defined contribution plans-

The Company pays provident fund contributions to publicly administered provident funds as per local regulations. The
Company has no further payment obligations once the contributions have been paid. The contributions are accounted for as
defined contribution plans and the contributions are recognized as employee benefit expense when they are due.

2.12 Investments and Other financial assets
(i) Classification-

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

Those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and
those measured at amortized cost.

The classification depends on the Company's business model for managing the financial assets and the contractual terms of the
cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive
income.

For investments in debt instruments, this will depend on the business model in which the investment is held. For investments
in equity instruments, this will depend on whether the Company has made an irrevocable election at the time of initial
recognition to account for the equity investment at fair value through other comprehensive income.

The Company reclassifies debt investments when and only when its business model for managing those assets changes.

The investment in Kautilya Infotech Ltd., Subsidiary Company, comprising 269,300 unquoted equity shares of Rs. 10 each/-
fully paid up, is valued as NIL in terms of its fair value, as its audited Financial Statements for FY 2023-24 states that its net
worth has been completely eroded.

(ii) Measurement-

At initial recognition, the Company measures a financial asset at its fair value, in the case of a financial asset is not at fair value
through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs
of financial assets carried at fair value through profit or loss are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are
solely payment of principal and interest.

(a) 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. There are three measurement categories into which the Company classifies its debt
instruments:

Amortized 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 amortized cost. A gain or loss on a debt investment that is subsequently measured
at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or
impaired. Interest income from these financial assets is included in finance income using the effective interest rate method.

Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash flows and
for selling the financial assets, where the assets' cash flows represent solely payments of principal and interest, are measured
at fair value through other comprehensive income (FVOCI). Movements in the carrying amount are taken through OCI,
except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are
recognized in profit and loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in
OCI is reclassified from equity to profit or loss and recognized in other gains/ (losses). Interest income from these financial
assets is included in other income using the effective interest rate method.

Fair value through profit or loss: Assets that do not meet the criteria for amortized cost or FVOCI are measured at fair value
through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss
and is not part of a hedging relationship is recognized in profit or loss and presented net in the statement of profit and loss
within other gains/(losses) in the period in which it arises. Interest income from these financial assets is included in other
income.

(b) Equity instruments-

The Company subsequently measures all equity investments at fair value. Where the Company's management has elected
to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent
reclassification of fair value gains and losses to profit or loss. Dividends from such investments are recognized in profit or loss
as other income when the Company's right to receive payments is established.

Changes in the fair value of financial assets at fair value through profit or loss are recognized in other gain/ (losses) in the
statement of profit and loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI
are not reported separately from other changes in fair value.

(iii) DE recognition of financial assets-

A financial asset is derecognized only when:

The Company has transferred the rights to receive cash flows from the financial asset or, retains the contractual rights to receive
the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more recipients.

Where the Company has transferred an asset, the Company evaluates whether it has transferred substantially all risks and
rewards of ownership of the financial asset. In such cases, the financial asset is derecognized. Where the Company has not
transferred substantially all risks and rewards of ownership of the financial asset, the financial asset is not derecognized.

Where the Company has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of
the financial asset, the financial asset is derecognized if the Company has not retained control of the financial asset. Where the
Company retains control of the financial asset, the asset is continued to be recognized to the extent of continuing involvement
in the financial asset.

(iv) Income recognition-

a) Interest income:

Interest income from debt instruments 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 instrument (for example, prepayment, extension, call and similar
options) but does not consider the expected credit losses.

b) Dividends:

Dividends are recognized in profit or loss only when the right to receive payment is established, it is probable that the
economic benefits associated with the dividend will flow to the Company, and the amount of the dividend can be measured
reliably.

2.13 Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable
right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability
simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal
course of business and in the event of default, insolvency or bankruptcy of the group or the counterparty.

2.14 Trade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which
are unpaid. The amounts are unsecured and are usually paid as per the credit terms.

2.15 Trade receivables

Trade receivables are recognized initially at fair value and subsequently measured at amortized cost, less provision for
impairment.

2.16 Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision
maker. Accordingly, segmental reporting is performed on the basis of geographical location of customer which is also used
by the chief financial decision maker of the company for allocation of available resources and future prospects.

2.17 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.

2.18 Foreign currency translation or transaction

(i) Functional and presentation currency:

Items included in the financial statements are measured using the currency of the primary economic environment in
which the entity operates ('the functional currency'). The financial statements are presented in Indian rupee (INR), which
is entity's functional and presentation currency.

(ii) Transactions and balances:

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the
transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation
of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized
in statement of profit and loss.

Foreign exchange differences regarded as an adjustment to borrowing costs are presented in the statement of profit and
loss, within finance costs. All other foreign exchange gains and losses are presented in the statement of profit and loss
on a net basis within other gains/(losses) Non-monetary items that are measured at fair value in a foreign currency are
translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and
liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on
non- monetary assets and liabilities such as equity instruments held at fair value through profit or loss are recognized
in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equity
investments classified as FVOCI are recognized in other comprehensive income.

2.19 Financial liabilities

Initial recognition and measurement:

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and
borrowings, payables, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly
attributable transaction costs.

The Company's financial liabilities include trade and other payables, loans and borrowings including bank overdrafts and
financial guarantee contracts.

Subsequent measurement-

The measurement of financial liabilities depends on their classification, as described below:

(a) Financial liabilities at fair value through profit or loss-

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading
if they are incurred for the purpose of repurchasing in the near term.

(b) Loans and borrowings-

This is the category most relevant to the Company. After initial recognition, interest-bearing loans and borrowings are
subsequently measured at amortized cost using the Effective Interest Rate (EIR) method.

Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization
process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit and loss.

2.20 Contingencies

Contingent liabilities are possible obligations whose existence will be confirmed only on the occurrence or non-occurrence
of uncertain future events outside the Company's control, or present obligations that are not recognized because of the
following: (a) It is not probable that an outflow of economic benefits will be required to settle the obligation; or (b) the amount
cannot be measured reliably.

Contingent liabilities are not recognized but are disclosed and described in the notes to the financial statements, including
an estimate of their potential financial effect and uncertainties relating to the amount or timing of any outflow, unless the
possibility of settlement is remote.

Contingent assets are possible assets whose existence will be confirmed only on the occurrence or non-occurrence of uncertain
future events outside the Company's control. Contingent assets are not recognized. When the realization of income is virtually
certain, the related asset is not a contingent asset; it is recognized as an asset.

Contingent assets are disclosed and described in the notes to the financial statements, including an estimate of their potential
financial effect if the inflow of economic benefits is probable.

2.21 Government Grants

Grants from the government are recognized at their fair value where there is a reasonable assurance that the grant will be
received and the Company will comply with all attached conditions. Government grants relating to the purchase of property,
plant and equipment are included in non-current liabilities as deferred income and are credited to profit or loss on a straight¬
line basis over the expected lives of the related assets and presented within other income.

2.22 Significant accounting judgements, estimates and assumptions

The preparation of the Company's financial statements requires management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the
disclosure of contingent liabilities at the date of the financial statements. Estimates and assumptions are continuously evaluated
and are based on management's experience and other factors, including expectations of future events that are believed to be
reasonable under the circumstances. Uncertainty about these assumptions and estimates could result in outcomes that require
a material adjustment to the carrying amount of assets or liabilities affected in future periods.

In particular, the Company has identified the following areas where significant judgements, estimates and assumptions are
required. Further information on each of these areas and how they impact the various accounting policies are described below
and also in the relevant notes to the financial statements. Changes in estimates are accounted for prospectively.

Judgements

In the process of applying the Company's accounting policies, management has made the following judgements, which have
the most significant effect on the amounts recognized in the financial statements:

Contingencies

Contingent liabilities may arise from the ordinary course of business in relation to claims against the Company, including
legal, contractor, land access and other claims. By their nature, contingencies will be resolved only when one or more uncertain
future events occur or fail to occur. The assessment of the existence, and potential quantum, of contingencies inherently
involves the exercise of significant judgments and the use of estimates regarding the outcome of future events.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have

a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
year, are described below. The Company based its assumptions and estimates on parameters available when the consolidated
financial statements were prepared. Existing circumstances and assumptions about future developments, however, may
change due to market change or circumstances arising beyond the control of the Company. Such changes are reflected in the
assumptions when they occur.

(a) Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication
exists, or when annual impairment testing for an asset is required, the Company estimates the asset's recoverable amount.
An asset's recoverable amount is the higher of an asset's or CGU's fair value less costs of disposal and its value in use. It is
determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from
other assets or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
considered impaired and is written down to its recoverable amount.

(b) Defined benefit plans

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligation are
determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from
actual developments in the future. These include the determination of the discount rate, future salary increases, mortality
rates and future pension increases. Due to the complexities involved in the valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

(c) Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques including the NAV model.

Financial assets like security deposits received and security deposits paid, has been classified and measured at amortized cost
on the basis of the facts and circumstances that exist at Balance Sheet date.

Financial liability like long term borrowings received, has been classified and measured at amortised cost on the basis of the
facts and circumstances that exist at balance sheet sate. Average market borrowing rate has been used to fair value the long
term loan at amortised cost.

2.23 Excise, Custom Duty and GST

Custom Duty on imports is accounted for at the time of clearance of goods.

Excise Duty is accounted for at the time of removal of goods.

CENVAT Credit and GST Input Tax Credit, to the extent availed, is adjusted towards cost of materials.

2.24 Borrowing Costs

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost
of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All
other borrowing costs are charged to the Statement of Profit and Loss in the period in which they are incurred.

2.25 Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, share split, and
reverse share split that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders
and the weighted average number of shares outstanding during the period are adjusted for the effect of all potentially dilutive
equity shares.

(ii) Fair value hierarchy

All financial instruments for which fair value is recognised or disclosed are categorised within the fair value hierarchy,
described as follows, based on the lowest level input that is insignificant to the fair value measurements as a whole.
Level 1 : quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2 : valuation techniques for which the lowest level inputs that has a significant effect on the fair value measurement
are observable, either directly or indirectly.

Level 3 : valuation techniques for which the lowest level input which has a significant effect on fair value measurement is
not based on observable market data.

The following table provides the fair value measurement hierarchy of the Company's assets and liabilities, other than
those whose fair values are close approximations of their carrying values.

For cash and cash equivalents, trade receivables, other receivables, short term borrowing, trade payables and other current
financial liabilities the management assessed that their fair value is approximate their carrying amounts largely due to the
short-term maturities of these instruments.

The fair values of the Company's long-term interest free security deposits are determined by applying discounted cash
flows ('DCF') method, using discount rate that reflects the market borrowing rate as at the end of the reporting period.
They are classified as level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including
counterparty credit risk.

(v) Inventory turnover ratio = Cost of goods sold/ Average Inventory

This ratio is not applicable to the company since it has no operation during the current year.

(vi) Trade receivables turnover ratio = Credit sales/ Average trade receivables

This ratio is not applicable to the company since it has no operation during the current year.

(vii) Trade payables turnover ratio = Net credit purchase/ Average trade payables

This ratio is not applicable to the company since it has no operation during the current year.

(viii) Net capital turnover ratio= Sales/ net Working Capital

This ratio is not applicable to the company since it has no operation during the current year.

(ix) Net profit ratio= Net profit after tax/ Sales

This ratio is not applicable to the company since it has no operation during the current year.

28 Other Disclosure as per amendment in Schedule-III dated 24th March, 2021.

. There are no proceedings has been initiated or pending against the entity under the Benami Transactions (Prohibitions)

^a) Act, 1988.

b) Compliance with approved Scheme(s) of Arrangements

There are none Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to
237 of the Companies Act, 2013.

c) Corporate Social Responsibility Expenditure

The provision of Corporate Social Responsibility under section 135 of the Act is not applicable to the company.

d) Details of Crypto Currency or Virtual Currency

The company has not entered in any transaction relating to Crypto Currency or Virtual Currency during the year.

e) Relationship with Struck off Companies:

The entity has not entered into any transaction with such entities whose name has been stuck off u/s 248 of the Act.

f) Utilization of Borrowings

No borrowings from banks and financial institutions were taken during the year other than OD Limit on Fixed deposits
held as Current Assets.

g) Willful Defaulter

The company has not declared as wilful defaulter.

h) Compliance with number of layers of companies

The company has been complied with the provision relating to layers of companies.

i) Registration of charges or satisfaction with Registrar of Companies:

The company has registered all the charges with Registrar of Companies within the statutory period.

j) Undisclosed income

There is no such income which has not been disclosed in the books of accounts. No such income is surrendered or
disclosed as income during the year in the tax assessments under Income Tax Act, 1961.

35. As there are no foreign currency payable at the end of the year and hence foreign currency exposure not hedged by derivative
instruments or otherwise have been disclosed.

36. The Company during the year have not received any information from any vendor regarding their status being registered
under Micro, Small and Medium Enterprises Development Act, 2006. Based on the above, disclosures, if any, relating to
amounts unpaid as at the period end along with interest paid / payable have not been given.

37. There are no inventories at the end of the year.

38. Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss Account for the year.
Current Year Charges

No provision for Income tax is required to be made during the current financial year.

Deferred Tax Liability/Asset

The Company estimates the deferred tax charge using the applicable rate of taxation based on the impact of timing differences
between financial statements and estimated taxable income for the current year.

However, Deferred tax asset has not been recognized in terms of Ind AS 12 issued by ICAI by adopting the conservative
approach in respect of ascertained profitability in the future years.

39. Related Party Disclosures:

In accordance with the Accounting Standards (Ind AS-24) on Related Party Disclosures, where control exists and where key
management personnel are able to exercise significant influence and, where transactions have taken place during the year,
alongwith description of relationship as identified, are given below: -

41. Information under Section 186(4) of the Companies Act 2013:

A. Loans given: The Details of Loan given is disclosed in Note 7 to the Financial Statement

B. Investment: The details of investment made is given in Note-5 to the financial statement.

C. Guarantee Given: NIL

D. The company has not provided any security during the year.

42. Previous year figures have been rearranged/ regrouped wherever considered necessary.

For STRG & Associates For and on behalf of the Board

Chartered Accountants Alchemist Corporation Limited

FRN : 014826N

Sd/- Sd/- Sd/-

Rakesh Gupta Pooja Rastogi Meena Rastogi

(Partner) (MG. Director) (Director)

M.No.: 094040 DIN : 00201858 DIN : 01572002

Sd/- Sd/-

Place : Delhi Sundar Singh Tushar Rastogi

Date : 23/05/2024 (Company Secretary) (CFO)

UDIN : 24094040BKAOIJ3892 PAN : ENPPS0629F PAN : AEEPR0868K