Notes to Accounts of Tejas Cargo India Ltd.

(xviii) Provisions, Contingent Liabilities And Contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) because 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. If the effect of the time value of
money is material, provisions are determined by discounting the expected future cash flows specific to the liability.
The unwinding of the discount is recognised as finance cost.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence
would be confirmed 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. Such liabilities are disclosed by way of notes to the Audited Financial Statements. No disclosure is made if the
possibility of an outflow on this account is remote.

A contingent asset is not recognised but disclosed in the Audited Financial Statements where an inflow of economic
benefit is probable. Provisions, contingent liabilities and contingent assets and commitments are reviewed at each
balance sheet date.

(xix) Earnings Per Share Basic Earnings Per Share

Basic earnings per share is calculated by dividing the profit attributable to owners of the Company by the weighted
average number of Equity Shares outstanding during the financial year, adjusted for bonus elements in equity shares
issued during the year.

(xx) Diluted Earnings Per Share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to consider the
after-income tax effect of interest and other financing costs associated with dilutive potential equity shares, and the
weighted average number of additional equity shares that would have been outstanding assuming the conversion
of all dilutive potential equity shares.

ii) Rights/Preferences/Restrictions attached to Equity Shares

The Company has only one class of equity shares having a par value of H10 per share. Each holder of equity shares is
entitled to one vote per share. Any fresh issue of equity shares shall rank pari-passu with the existing shares. In the
event of liquidation of the Company, the holder of equity shares will be entitled to receive the remaining assets of the
Company, after distribution of all preferential amounts, if any, in proportion to the number of Equity Shares held by
the shareholders.

NOTE 29 STATEMENT OF CONTINGENT LIABILITIES

Management has estimated that there is no possible outflow of resources at the period ended March 31, 2026 towards
contingencies / litigations against the Company. The Company has issued performance bank guarantee amounting to INR
1,100.45 Lacs to its clients as beneficiary.

Note:

1) EBITDA Margin = EBITDA/Totai Revenues*100.

2) The company does not have any revaluation reserves.

3) Net Worth= Equity Share capital Reserve and Surplus(Including Surplus in the Statement of Profit and Loss Account-
Deferred Tax Assets

4) Based on the retrospective impact of any increase in the capital occuring after the close of the financial year for all the
previous periods.

5) Weighted Average Number of equity shares is the number of equily shares outstanding at the beginning of the year
adjusted by the number of equity, shares issued during the year multiplied by the time weighting factor.

NOTE 33 SEGMENT REPORTING

The Company at present is primarily engaged in transportation and logistics services, which is the most dominant source of
revenue contributing to more than 98% of the total revenue. In view of above, primary and secondary reporting disclosures
for business/ geographical segment as envisaged in AS - 17 is not applicable to the Company as no other segment the criteria
as laid down in the accounting standard.

NOTE 34 UTILISATION OF PROCEEDS FROM INITIAL PUBLIC OFFER (IPO)

During the beginning of the year, the Company had INR 30.76 Cr. on unutilized proceeds from the IPO. The Company has
utilized the IPO proceeds during the April 2025-June 2025 as follows:

NOTE 35 DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT, 2006

Under the Micro, Small and Medium Enterprises Development Act,2006 which came into force from 2^nd October 2006, certain
disclosures are required to be made relating to Micro and Small Enterprises.

The Company has not received any memorandum (as required to be filed by the suppliers with the notified authority under
the Micro, Small and Medium Enterprises Development Act, 2006) claiming their status as Micro, Small or Medium enterprises.
Consequently, the amount paid/payable to these parties could not be ascertainable.

There are no micro and small enterprises, as defined in the micro and small enterprises development act,2006, to whom the
Company owes dues on account of principal amount together with the interest and accordingly no additional disclosures
have been made. The above information regarding micro and small enterprises has been determined to the extent such
parties have been identified based on information available with the Company. This has been relied upon by the auditors.

NOTE 36 SIGNIFICANT MANAGEMENT JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND
ESTIMATION UNCERTAINTY.

The estimates and judgements used in the preparation of the Financial Statements are continuously evaluated by the
Company and are based on historical experience and various other assumptions and factors (including expectations of
future events) that the Company believes to be reasonable under the existing circumstances that occurred after that date but
provide additional evidence about conditions existing as at the reporting date. Actual results may differ from these estimates.
Continuous evaluation is done on the estimation and judgments based on historical experience and other factors, including
expectations of future events that are believed to be reasonable. Revisions to accounting estimates are recognized in the
period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future
periods of the revision if it affects both current and future periods.

Information about critical judgments in applying accounting policies, as well as estimates and assumptions that have the
most significant effect on the carrying amounts of assets and liabilities within the next Financial Year, is as follows:

(i) Depreciation And Useful Lives Of Property, Plant And Equipment

Property, Plant, and equipment are depreciated on written down value basis over the estimated useful lives of the
assets, after considering their estimated residual value in accordance with the Schedule II of the Companies Act, 2013.
Management reviews the estimated useful lives and residual values of the assets annually in order to determine the
amount of depreciation to be recorded during any reporting period. The useful lives and residual values are based on
the Company''s historical experience with similar assets and take into account anticipated technological changes. The
depreciation for future periods is adjusted if there are significant changes from previous estimates.

For the asset purchased in the financial year 2025-2026, the Company has revised the estimates on the new vehicle
purchase during the year, considering the factors like, vehicle running, sectors where vehicle is utilized, product type
transported etc., that deviates from the Schedule II of the Companies Act, 2013. Based upon the management estimates,
the depreciation has been computed on the following basis on written down value basis:

(ii) Investment

The Management does not expect the liquidation of immovable assets in the next 12 months and accordingly the payments
made towards the purchase of immovable assets has been initiated has been classified as non-current investments.

(iii) Recoverability of Trade Receivables

Judgements are required to assess the recoverability of overdue trade receivables and determine whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and
timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

(iv) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of
funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of
recognition and quantification of the liability require the application of judgement to existing facts and circumstances,
which can be subject to change. Since the cash outflows can take place many years in the future, the carrying amounts
of provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and circumstances.

(v) Post Employment Benefits

In accordance with Accounting Standard 15 (AS-15) on "Employee Benefits,” the Company has recognized the provisions
for the gratuity liability and the same has been duly accounted for. The provision for the gratuity for FY 2025-26 has been
recognised as expense and the liability for the previous years have been adjusted from the reserves and surplus of the
company. The total provision for gratuity as on 31.03.2026 is INR 126.57 Lakhs.

(vi) Other Employment Benefits

The Company does not have a leave encashment policy in place for its employees. As a result, no provision has been
made in the Company''s financial statements for the encashment of leave.

Employees are expected to utilize their earned leaves within the applicable leave cycle as per the Company''s leave policy.
Any unutilized leave at the end of the cycle does not qualify for encashment, thereby eliminating the need for accounting
provisions related to leave encashment.

On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial
Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions
Code, 2020, consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules
and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has complied with
all applicable laws, rules and regulations including the Companies Act, 2013, applicable taxation laws, transportation laws
and applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NOTE 37 CORPORATE SOCIAL RESPONSIBILITY

As per Section 135 of the Companies Act, 2013, the CSR policy has been approved by the Board. The areas of CSR activities are
aligned with Schedule VII of the Companies Act, 2013.

The CSR expenditure incurred during the year has been applied towards activities specified in Schedule VII to the Companies
Act, 2013, in accordance with the approved CSR Policy.

In accordance with Section 135 of the Companies Act, 2013, every company meeting the prescribed applicability criteria is
required to spend, in every financial year, at least 2% of its average net profits, computed in accordance with Section 198 of the
Act, made during the three immediately preceding financial years, on eligible Corporate Social Responsibility (CSR) activities.

NOTE 38 OTHER STATUTORY INFORMATION:

i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property under The Benami Transactions (Prohibition) Amendment Act, 2016 rules
made thereunder.

ii) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities
(Intermediaries) with the understanding that the Intermediary shall: a) 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 b)
provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

iii) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall: a) 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 b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

iv) The Company has not entered any such transaction which is 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).

v) The Company do not have any transactions with companies struck off under section 248 of Companies Act, 2013.

vi) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

vii) The Company have not incurred any expenditures in foreign currency.

viii) The Company has not been declared as wilful defaulter by any bank or financial institution or any other lender.

ix) There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

x) Provisions under clause (87) of section 2 of Companies act, 2013 read with Companies (Restriction on number of layers)
Rules, 2017 are not applicable to the Company.

xi) The Company has neither advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other persons (s) or entity(ies), including foreign entities (whether recorded in writing or
otherwise) that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xii) The Company has not received any fund from any persons (s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

xiii) Capital Commitments: Estimated amount of contracts remaining to be executed on capital account and not provided for:
Nil (Previous Year Rs. Nil).

xiv) Prior Period Items: No prior period items found to be recorded in the books of accounts for FY 2025-26 except for Gratuity.
The gratuity amount of INR 89.98 Lakhs for earlier years has been provisioned by way of adjusting with the Reserves
& Surplus.

xv) The title deeds of all the immovable properties disclosed in the financial statements as at March 31, 2026, are pending
for execution as the property is still under construction. The agreement for sale is RERA registered in the name of
the Company.

NOTE 39 OTHER INFORMATION:

i) The Company has some Vehicles amounting to INR 1,923.17 Lakhs purchased in Q4 FY 26 that are yet to be ready for use
and therefore classified under Capital work-in-progress for the period ended March 31, 2026.

ii) The outstanding balances of current assets, non-current assets, loans and advances, fixed deposits, security deposits,
unsecured loans and current liabilities, Non-Current Liabilities & provisions are subject to confirmation and reconciliation.

iii) Cash balance at the end of the year have been verified and certified by the management.

iv) Previous year''s figures have been regrouping/reclassification/correction of clerical errors wherever necessary to
correspond with the current year''s disclosure.

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. If the effect of the time value of money is material, provisions are determined by discounting
the expected future cash flows specific to the liability. The unwinding of the discount is recognised as
finance cost.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose
existence would be confirmed 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. Such liabilities are disclosed by way of notes to the
financial statements. No disclosure is made if the possibility of an outflow on this account is remote.

A contingent asset is not recognised but disclosed in the financial statements where an inflow of
economic benefit is probable.

Provisions, contingent liabilities and contingent assets apd==e©^mitments are revieyyecLgt each balance
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q) Earnings per share Basic earnings per share

Basic earnings per share is calculated by dividing:

the profit attributable to owners of the Company by the weighted average number of equity shares
outstanding duringthe financialyear, adjusted for bonus elements in equity shares issued during the year.

r) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take
into account:

the after-income tax effect of interest and other financing costs associated with dilutive potential equity
shares, and the weighted average number of additional equity shares that would have been
outstanding assuming the conversion of all dilutive potential equity shares.