Notes to Accounts of Naksh Precious Metals Ltd.

Mar 31, 2025

i. IND AS - 37 Provisions Contingent liabilities and contingent assets: -

The Company creates a provision when there is present obligation as a result
of a past event that probably requires an outflow of resources and a reliable
estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that may, but probably will not, require an
outflow of resources. The Company also discloses present obligations for
which a reliable estimate cannot be made. When there is a possible
obligation or a present obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.

j. Cash and Cash Equivalents

Cash and cash equivalents comprise of 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 if any, as
they are considered an integral part of the Company''s cash management.

k. Significant accounting judgements, estimates and assumptions

The preparation of financial statements in conformity with the Ind AS
requires the management to make judgments, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities
and the accompanying disclosure and the disclosure of contingent liabilities,
at the end of the reporting period. Estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised if the revision
affects only that period or in the period of the revision and future periods if
the revision affects both current and future periods. Although these
estimates are based on the management''s best knowledge of current events
and actions, uncertainty about these assumptions and estimates could result
in the outcomes requiring a material adjustment to the carrying amounts.

b) Terms/rights attached to equity shares

The Company has only one class of equity shares, having a par value of ''10 per share. All shares rank pari passu with respect to dividend, voting rights and
other terms. Each shareholder is entitled to one vote per share. The dividend proposed, if any, by the Board of Directors is subject to approval of
shareholders in the ensuing Annual General Meeting, except in case of interim dividend. The repayment of equity share capital in the event of liquidation
and buy back of shares are possible subject to prevalent regulations. In the event of liquidation, normally the equity shareholders are eligible to receive the
remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Details of dues to Micro, small & medium Enterprises as per MSMED Act, 2006

The Company has initiated the process of obtaining the confirmation from suppliers who have
registered under the Micro, Small and Medium enterprise development Act, 2006 (MSMED Act,
2006) based on information available with the company, the balance due to micro and small
enterprise as defined under the MSMED Act, 2006 is nil. No interest has been paid or payable
under MSMED Act, 2006 during the year

There are no Due payable to small scale industries undertaking in view of the business of the
company

25. The previous year''s figures have been reworked, regrouped, and reclassified
wherever necessary. Amounts and other disclosures for the preceding year are
included as an integral par of the current year financial statements and are to
be read in relation to the amounts and other disclosures relating to the current
year.

26. Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors,
loans and Advances are subject to confirmation and therefore the effect of the
same on profit could not be ascertained.

3 0. Capital Management

The primary objective of the Group''s capital management is to maximize the
shareholders'' interest, safeguard its ability to continue as a going concern and
reduce its cost of capital. Company is focused on keeping strong total equity
base to ensure independence, security as well as high financial flexibility for

potential future borrowings required if any. Company''s capital for capital
management includes debt and total equity. As at March 31, 2025 and March
31, 2024 total capital is Rs. 643.17 Lakhs and Rs. 597.92 Lakhs respectively. No
changes were made in the objectives, policies or processes for managing capital
during the year ended March 31, 2025, March 31, 2024.

31. Relationship with Stuck off Companies

During the year, the company does not have any transaction with companies
struck off under section 248 of the Companies Act, 2013 or section 560 of
Companies Act, 1956

32. Willful Defaulters

During the year, the company is not declared as wilful defaulter by any bank or
financial Institution or other lender.

34. Undisclosed Income

The company do not have any transaction not recorded in the books of accounts
that has been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961 (such as, search or survey or any
other relevant provisions of the Income Tax Act, 1961], unless there is
immunity for disclosure under any scheme. The company shall also not have
the previously unrecorded income and related assets have been properly
recorded in the books of account during the year.

3 5. Details of Crypto Currency or Virtual Currency

The company has not traded or invested in Crypto Currency or Virtual Currency
during the financial year, the following shall be disclosed:

(a) profit or loss on transactions involving Crypto Currency or Virtual
Currency;

(b) amount of currency held as at the reporting date;

(c) deposits or advances from any person for the purpose of trading or
investing in Crypto Currency / Virtual Currency.

For and on behalf of the Board of Directors of
For D G M S & Co. Naksh Precious Metals Limited

Chartered Accountants (Formerly known as Vaksons Automobiles Limited]

SD/- SD/- SD/-

Hiren J Maru Sneha Vispute Abhijeet Sonawane

Whole Time Director &

Partner Managing Director CFO

M.No. 115279 DIN 09693252 DIN 09694063

FRN: 0112187W

Place: Mumbai SD/-

Date: 30^th May 2025 Bhupendra Bhadani

Company Secretary &
Compliance Officer

Place: Nashik Place: Nashik

Date:30^th May 2025 Date: 30^th May 2025

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Mar 31, 2024

k. IND AS - 37 Provisions Contingent liabilities and contingent assets: -

The Company creates a provision when there is present obligation as a result of
a past event that probably requires an outflow of resources and a reliable
estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation
or a present obligation that may, but probably will not, require an outflow of
resources. The Company also discloses present obligations for which a reliable
estimate cannot be made. When there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is remote,
no provision or disclosure is made.

l. IND AS - 108 Operating Segments

The Company is engaged in the business segment of Financing, whose operating
results are regularly reviewed by the entity’s chief operating decision maker to
make decisions about resources to be allocated and to assess its performance,
and for which discrete financial information is available. Further other business
segments do not exceed the quantitative thresholds as defined by the Ind AS 108
on "Operating Segment". Hence, there are no separate reportable segments, as
required by the Ind AS 108 on "Operating Segment".

m. Cash and Cash Equivalents

Cash and cash equivalents comprise of 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 if any, as they
are considered an integral part of the Company''s cash management.

n. Employee Benefits

The Company operates the following post-employment schemes:

A. Defined benefit plans Gratuity; and

B. Defined contribution Plan - Provident Fund

Defined benefit plans - Gratuity Obligations

The liability or asset recognized in the balance sheet in respect of defined benefit
gratuity plans is the present value of the defined benefit obligation at the end of
the reporting period less the fair value of plan assets. The defined benefit
obligation is calculated annually by actuaries using the projected unit credit
method. The present value of the defined benefit obligation is determined by
discounting the estimated future cash outflows by reference to market yields at
the end of the reporting period on government bonds that have terms
approximating to the terms of the related obligation. The net interest cost is
calculated by applying the discount rate to the net balance of the defined benefit
obligation and the fair value of plan assets. This cost is included in employee
benefit expense in the statement of profit and loss. Re-measurement gains and
losses arising from experience adjustments and changes in actuarial
assumptions are recognized in the period in which they occur, directly in other
comprehensive income. They are included in retained earnings in the statement
of changes in equity and in the balance sheet. Changes in the present value of the
defined benefit obligation resulting from plan amendments or curtailments are
recognized immediately in profit or loss as past service cost.

Defined Contribution Plans

Eligible employees of company receive benefits from a provident fund, which is a
defined benefit plan. Both the eligible employee and the Company make monthly
contributions to the provident fund plan equal to a specified percentage of the
covered employee''s salary. The Company contributes a portion to Recognized
provident Fund set up by Employees Provident Fund Organization of India which
is deposited to government account within due date as set under Employees''
Provident Funds & Miscellaneous Provisions Act, 1952.The rate at which the
annual interest is payable to the beneficiaries by the trust is being administered
by the government.

o. Significant accounting judgements, estimates and assumptions

The preparation of financial statements in conformity with the Ind AS requires
the management to make judgments, estimates and assumptions that affect the
reported amounts of revenues, expenses, assets and liabilities and the
accompanying disclosure and the disclosure of contingent liabilities, at the end
of the reporting period. Estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are recognised in the period
in which the estimates are revised if the revision affects only that period or in
the period of the revision and future periods if the revision affects both current
and future periods. Although these estimates are based on the management''s
best knowledge of current events and actions, uncertainty about these
assumptions and estimates could result in the outcomes requiring a material
adjustment to the carrying amounts of assets or liabilities in future periods.

In particular, information about significant areas of estimation, uncertainty and
critical judgments in applying accounting policies that have the most significant
effect on the amounts recognized in the financial statements is included in the

following notes:

i) Business Model Assessment

Classification and measurement of financial assets depends on the results of
the SPPI and the business model test. The Company determines the business
model at a level that reflects how groups of financial assets are managed
together to achieve a particular business objective. This assessment includes
judgement reflecting all relevant evidence including how the performance of
the assets is evaluated and their performance measured, the risks that affect
the performance of the assets and how these are managed and how the
managers of the assets are compensated. The Company monitors financial
assets measured at amortised cost or fair value through other
comprehensive income that are derecognised prior to their maturity to
understand the reason for their disposal and whether the reasons are
consistent with the objective of the business for which the asset was held.
Monitoring is part of the Company’s continuous assessment of whether the
business model for which the remaining financial assets are held continues
to be appropriate and if it is not appropriate whether there has been a
change in business model and so a prospective change to the classification of
those assets.

ii) Effective Interest Rate (EIR) Method

The Company’s EIR methodology, recognises interest income using a rate of
return that represents the best estimate of a constant rate of return over the
expected behavioural life of loans given and recognises the effect of
potentially different interest rates at various stages and other characteristics
of the product life cycle (including prepayments and penalty interest and
charges).

This estimation, by nature, requires an element of judgement regarding the
expected behaviour and life cycle of the instruments, probable fluctuations in
collateral value as well as expected changes to India’s base rate and other fee
income/expense that are integral parts of the instrument.

iii) Impairment of loans portfolio

The measurement of impairment losses across all categories of financial
assets requires judgement, in particular, the estimation of the amount and
timing of future cash flows and collateral values when determining
impairment losses and the assessment of a significant increase in credit risk.
These estimates are driven by a number of factors, changes in which can
result in different levels of allowances.

It has been the Company’s policy to regularly review its models in the context

of actual loss experience and adjust when necessary.

iv) Defined employee benefit assets and liabilities

The cost of the defined benefit gratuity plan and the present value of the

gratuity 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 and mortality rates. 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.