Notes to Accounts of Gujarat Winding Systems Ltd.

Mar 31, 2025

1.1 The company has one class of shares referred to as Equity Shares. 1 Equity shares having Face value of Rs.10/-. Each Holder of equity share is entitled to 1 vote per share.

1.2 In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.

a. Return on Equity Ratio

In this year other income is increased as compared to previous year so that Ratio is increase as comapre to previouse year.

b. Return on Equity Ratio

Due to increase in Net Profit after Tax Return on Equity is incresed as compare to previous year.

c. Return on Capital employed

As compare with year there isaninreasein earnings before interest and tax, as a result increase in the; Return on capital employed ratio.

During the financial year ended 31-03-2025, the Company has not entered into any transactions with related parties as defined under Ind AS 24 - Related Party Disclosures. Accordingly, there are no related party transactions to be disclosed in the financialstatements for.theyear ended 31-03-2025.

The Company has also evaluated relationships and control structures, and based on this assessment, there are no relationships that meet the definition of related parties under Ind AS 24. ---——3-——----₍

Iv. Additional regulatory information

(a) Details of crypto currency or virtual currency

The Company has neither traded nor invested in Crypto currency or Virtual Currency for the year ended March 31,2025 & 2024. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(b) Compliance with approved scheme of arrangements

Company is not engaged in any scheme of arrangements.

(c) Undisclosed income

During the Periods, die Company has not surrendered or disclosed as income any transactions not recorded in the books of accounts in the course of tax assessments

(d) Relationship with struck off companies

The Company does not have any transactions with the companies struck off under section 24B of the Companies Act, 2013 or section 560 of the Companies Act, 1956 for the year ended March 31,2025,2024 & 2023.

(e) Compliance with numbers of layers of companies

The provisions of Clause 87 of Section 2 of the Companies Act, 2013, read with the Companies [Restriction on Number of Layers) Rules, 2017, are not applicable to the Company.

(f) Utilisation of borrowed funds and share premium

During tlieyear ended March 31,2025 & 2024, the Company has notadvanced or Loans or. invested funds [either borrowed funds orshare premium or kind of funds) to any other person(s) or entity(ies), including foreign entitles (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

During the year ended March 31,2025 & 2024, the Company has not received any fund from any person(s) or entity (ies), including foreign entities (Funding Party) 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.

(g) The Company has not been declared Wilful Defaulter by any bank or financial institution or government or any government authority.

(h) No proceeding have been Initiated nor pending against the company for holding any benami property under the Benami Transactions

(i) Fair value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) re cognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the standalone financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the Ind AS 113,

(j) Audit Trail

Based on our examination, we note that the Company has used accounting software for maintaining its books of account; however, the software does not have a feature of recording an audit trail (edit log) as required under Rule 3(1) of the Companies (Accounts) Rules, 2014, as amended. Accordingly, the audit trail (edit log) of all transactions, including any modifications or deletions, was not maintained throughout the financial year;ended March 31,2025. Consequently, we were unable to verify the existence and operation of an edit log feature or assess whether any changesweremadeto the booksof account without appropriate audit trail documentation. Tin''s constitutes a non-compliance with the requirements prescribed under the aforesaid Rules.

(k) Market Risk

Market risk is the risk ofloss of future earnings, volati lily of future cash flows and fluctuations in Fair value of financial assets. The fair value of a financial asset may fluctuate because of changes in interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to ail market risk sensitive financial instruments.

i) Interest rate risk:

Interest rate risk is the riskthat the fair value of a financial instrument will fluctuate because of changes in market interest rates. The Group is exposed to fair value changes due to interest rate risk from investments held in units of debt-oriented mutual funds.

ii) Foreign currency risk:

The Company is not exposed to foreign currency risk during the year, as there were no foreign currency transactions or balances, including imports, exports, foreign currency borrowings, or investments. Accordingly, the Company is not subject to any gains or losses arising from fluctuations in foreign exchange rates.

lii) Price risk

Price risk is the risk that the fair value of a financial instrument will fluctuate because of changes in market prices caused by factors affecting all similar instruments traded in the market The Company''s exposure to the price risk arises from investment in quoted equity instrument classified as FVTOCI as at March 31.

(l) Liquidity risk

The Company manages its liquidity risk by maintaining adequate cash and bank balances, ensuring availability of fun ding thro ugh committed credit lines, and actively monitoring its operational cash flows. Based on our audit procedures and the information reviewed, we are of the opinion that the Company has sufficient liquidity as at March 31 to meet its financial obligations as and when they fal) due,

(m) Subsequent events

There were no other material subsequent events that required adjustment or disclosure in the financial statements as per IND A5 10

(n) Segment Reporting

As the Company is having only one segment, there are no reportable segment in accordance with the requirement of Segment Reporting under Ind AS 108.

v. Non-adjustment items:

No Audit qualifications for the respective periods which require any corrective adjustment in these Restated Financial Statements of the Company have been pointed out during the restated period.

vi. Details of dues to Micro and Small Enterprises as defined under the M5MED Act, ZOOS

Based on the information available with the Company in respect of MSME (as defined in the Micro, Small and Medium Enterprises Development Act, 2006) and as confirmed to us there are no delays in payment of dues to such enterprise during the year.

The identification of Micro, Small and Medium Enterprises Suppliers as defined under ''The Micro, Small and Medium Enterprises Development Act, 2006" is based on the information available with the management As certified by the management, the amounts overdue for the year ended March 31,2025 & 2024 to Micro, Small and Medium Enterprises on account of principal amount together with interest aggregate to Rs. Nil.

---

Mar 31, 2024

£.^rff^vljMons,.Contineeat Liabilities anti Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a legal or constructive
obligation u a result of past events and it is probable that there will be an outflow of resources and a reliable estimate can be
made of the amount of obligation. Provisions are not recognised for future operating losses. The amount recognized as a
provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period
taking into account the risks and uncertainties surrounding the obligation.

Contingent liabilities are not recognized and are disclosed by way of notes to the financial statements when there is a possible
obligahon 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 when there is 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 same or a reliable
estimate of the amount in this respect cannot be made-

Contingent assets ore not recognised but disclosed in the Financial Statements by way of notes to accounts when an inflovv of!_

economic benefits is probable. ” ~

Rights, Preferences and Restrictions attached to Equity Shares

The Company has only one class of Equity Shares having a par Value of Rs 10 per share. Each Shareholder is eligible
for one vote per share held. All Shares have equal rights in respect of distribution of dividend and repayment of capital.
No shares have any restrictions in respect of distribution of dividend and repayment of capital.

Shares reserved for issued

No Equity Shares have been reserved for issue under option and contracts/commitments for sale of shares/disinvestment
as at Balance Sheet date.

Note : 16

Previous year''s figures have been regrouped/ reclassified wherever necessary to correspond with
the current year''s classification/ disclosure.

Signature to Note No. 1 to 16

Significant Accounting Policies and other accompanying Notes (1 to 16) form an integral part of the Financial Statements
As per our report of even date

For, Gaurang Vora & Associates \ If Zj \Z\\

Chartered Accountant s'' ll J i

Firm Reg. Iw>. 103110W Af

M 3 \oi Director W~r Director

1 /1/I//V, \ o\ AHMEDABAD )Z) < (Chandubhai Vaghela)T"(Shaileshbhai Chauhan)

|/1 (/^N (DIN: 05197958) (DIN: 06515670)

(Gaurang Vora)

Proprietor
PlaceAhmedabad
Date 10.05.2024
^UD,N:-

3^v3><\Q<. Sklr&OHg''lJf