2.12 Provision, Contingent Liabilities and Contingent Assets

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.
Provisions are measured at the best estimate of the expenditure required to settle the present
obligation at the Balance Sheet date.

Contingent liabilities are disclosed when there is a present obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company or a present obligation that
arises from past events where it is either not probable that an outflow of resources will be required to
settle the obligation or a reliable estimate of the amount cannot be made.

2.13 Employee Benefits

(a) Short term Employee benefits:

All employee benefits falling due wholly within two months of rendering the services are classified
as short-term employee benefits. The benefits like salaries, wages, and short term
compensated absences etc. and the expected cost of bonus; ex-gratia is recognized in the
period in which the employee renders the related service.

(b) Post employment benefits:

(i) Defined Contribution Plan

The Company has Defined Contribution plan for post employment benefit namely Provident
Fund, which is recognised by the income tax authorities and administered through
appropriate authorities.

The Company contributes to a Government administered Provident Fund and has no
further obligation beyond making its contribution.

(ii) Defined Benefit Plans

(c) Leave encashment

Based on the leave rules of the company, employees are not permitted to accumulate leave.

(d) Termination benefits are recognized as an expense as and when incurred.

2.14 Earnings Per Share

The earnings considered in ascertaining the Company’s Earnings per share (‘EPS’) comprise the
Net Income. The number of shares used in computing the Basic EPS is the weighted average
number of shares outstanding during the year. The diluted EPS is calculated on the same basis as
Basic EPS.

2.15 Discontinued Operations

Assets and Liabilities of discontinued operations are assessed at each Balance Sheet date. Impacts
of any impairments and write backs are dealt with in the Statement of Profit and Loss.

Impacts of discontinued operations are distinguished from the ongoing operations of the Company,
so that their impact on the Statement of Profit and Loss for the year can be perceived.

(a) Debt = Long term secured loans Current maturities of long-term debt

(b) Net Worth = Equity share capital Reserves and Surplus
(c ) Average inventory = (Opening Closing balance) / 2

(d) Average trade debtors = (Opening Closing balance) / 2

(e) Average trade payables = (Opening Closing balance) / 2

(f) Capital Employed = Total Assets - Current Liabilities

33 The company is operating under segment of mining business only. Hence, provisions of Ind AS-108,
Segment reporting are not applicable.

34 There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

35 Previous year figures have been regrouped wherever necessary.

36 Figures have been rounded off to nearest Rupees.

Signature to Notes 1 to 36

In terms of our Audit Report attached For and on behalf of the Board of Directors

For Ajay Paliwal & Co Devendra Sharma

Chartered Accountants CEO & Managing Director

ICAI Firm Registration No. 012345C DIN - 00921174

Ajay Paliwal Aruna Doshi

Proprietor Whole Time Director

Membership No. 403290 DIN - 00949220

Karan Mal Murdia Kalp Shri Vaya

Udaipur, May 29, 2024 Chief Financial Officer Company Secretary