INDEPENDENT AUDITORS' REPORT TO, ‘THE MEMBERS OF P & R BIKANER SOLAR POWER PRIVAT! Report on the Financial Statements ‘We have audited the accompanying financial statements of P & R BIKANER SOLAR POWER PRIVATE LIMITED, which comprise the Balance Sheet as at 31/03/2024, the Statement of Profit and Loss. for the year then ended, and a summary of the significant accounting policies and other explanatory information. Auditor’s Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31/03/2024, and its Profit for the year ended on that date. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under seetion 143(10) of the Companies Act, 2013, Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our report. We fare independent of the Company in accordance with the Code of Ethics issued by the Institute of ‘Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance wih these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Information Other than the Standalone Financial Statements and Auditor's Report Thereon. ‘The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board's Report including Annexures to Board's Report, Business Responsibility Report, Corporate Governance and Shareholder’s Information, but does not include the standalone financial statements and our auditor's report thereon Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conelusion thereon, In connection with our audit of the standalone financial statements, our responsibility isto read the ‘other information and, in doing so, consider whether the other information is materially inconsistent ‘with the standalone finaneial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. When we read such other information as and when made available to us and if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governanceResponsibility of Management and Those Charged with Governance (TCWG) ‘The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act”) with respect to the preparation of these financial statements that sive a true and fair view of the financial position , financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, This responsibility aso includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies: making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate intemal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the Preparation and presentation of the Financial statements that give a true and fait wiew and ate tree from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concer, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless management either intends to liquidate the Company or to cease operations, oF has no realist alternative but todo so, The Board of Directors are also responsible for overseeing the Company’ financial reporting process. Auditor's Responsibility Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance isa high level of assurance, but is not a guarantee that an audit conducted in accordance with SAS will always detect a material misstatement when it exist. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements, ‘As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also: ‘Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control + Obiain an understanding of internal control relevant to the audit inorder to design audit procedures that are appropriate in the circumstances.Under section 143(3)() of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls. ‘Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Conclude on the appropriateness of management's use of the going concer basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concem.If we conclude that a material uncertainty exists, we are required to draw attention in ourauditor's report to the related disclosures in the financial statements or, if such disclosures are ‘inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concer. ‘Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in-a manner that achieves fair presentation We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. We also provide those charged with gaverance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards From the matters communicated with those charged with governance, we determine those matters that ‘were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such ‘communication, Report on Other Legal and Regulatory Requirements \elude a statement on the matters specified in paragraph 3 and 4 of the 1's Report) Order, 2020, issued by the Central Government of India, in 11 of section 143 of the companies Act, 2013 since in Our opinion and according to the information and explanation given to us, the said order is not applicable to the company. This report doesn't |As required by Section 143 (3) of the Act, we report that: (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. (b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books. (©) The Balance Sheet, the Statement of Profit and Loss, and dealt with by this Report are in ‘agreement with the books of account. (@) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, (©) On the basis ofthe written representations received from the directors as on 31/03/2024 taken ‘on record by the Board of Directors, none of the directors is disqualified as 31/03/2024 from being appointed as a director in terms of Section 164 (2) ofthe Act.(© With respect to the adequacy of the intemal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in “Annexure A” (g) With respect to the other matters to be included in the Auditor’s Report in accordance with Date Place Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of ‘our information and according to the explanations given to us: The Company has disclosed the impact of pending litigations on its financial posi its financial statements. ‘The Company has made provision, as required under the applicable law or accounting stomarls, fir material foreseeable Ineses, iP amy, on ly-lerin ervmiacts. inating derivative contracts. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company. (a) The management has represented that, o the best of it’s knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been advanced of loaned ot invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entty(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, (b) The management has represented, that, tothe best of t's knowledge and belie, other than as disclosed in the notes to the accounts, no funds have been received by the ‘company from any person(s) or entityies), including foreign entities (“Funding Parties”), ‘with the understanding, whether recorded in writing or otherwise, thatthe company shall whether, 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 provide any guarantee, security or the like on behalf ofthe Uhimate Beneficiaries; and (©) Based on audit procedures which we considered reasonable and appropriate in the circumstances, nothing has come to their notice that has caused them to believe that the representations under sub-clause (i) and (ii) contain any material mis-statement. ‘The company has not declared or paid any dividend during the year in contravention of the provisions of section 123 of the Companies Act, 2013 - FOR SANJAY KUMAR JINDAL & CO. (Chartered Agcountants) Re No, :010682N SANJAY JINDAL Proprietor MNo. : 089260 UDIN: 24089260BKCAZNS591 2106/2024 Jogadhri“Annexure A” to the Independent Auditor's Report of even date on the Standalone Financial Statements of P & R BIKANER SOLAR POWER PRIVATE LIMITED. Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013. We have audited the intemal financial controls over financial reporting of P & R BIKANER SOLAR POWER PRIVATE LIMITED as of March 31, 2024 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that dat. Management's Responsibility for Internal Financial Controls ‘The Company's managemeat is responsible for establishing and maintaining internal financial controls based on the intemal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Intemal Financial Controls over Finaneial Reporting issued by the Institute of Chartered Accountants of India These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors’ Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Intemal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of intemal financial controls, both applicable to an audit of Intemal Financial Controls and, both issued by the Institute of Chartered Accountants of India, Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence amout the adequacy of the intemal financial control system over financial reporting and their operating effectiveness. Our audit of intemal financial controls over financial reporting, assessing the risk that a material weakness exists, and operating effectiveness of internal control based on the assessed risk. The procedures selected ‘depend upon on the auditor's judgment, including the assessment of the risks of material misstatement ‘of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting ‘A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for extemal purposes in accordance with generally accepted accounting principles. A company’s intemal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are beingmade only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements tions of Internal Financial Controls over Financial Reporting Inherent Because of the inherent limitations of intemal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to ertor or fraud may occur and not be detected. Also, projections of any evaluation of the intemal financial controls over financial reporting to future periods are subject to the risk that the intemal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate, Opinion In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such intemal finaneial controls over financial reporting were operating effectively as at March 31, 2024, based on the intemal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issues by the Institute of Chartered Accountants of India. FOR SANJAY KUMAR JINDAL & CO. (Chartered Accountants) Reg No. :010652N Date : 24/06/2024 Place : Jagadhi1 M/S P&R BIKANER SOLAR POWER PVT. LTD. REGD OFFICE :- QUIET OFFICE NO 7, 2ND FLOOR, SECTOR 35 A, CHANDIGARH CIN - Ua0106cH2012PTC033964 Balance Sheet as at 31st March,2024 Rs. In Thousand Figures as at the | Figures as at the Note | end of current | end of current No | reporting period | reporting period As at 31,03.24 | As at 31.03.23 Particulars }E. EQUITY AND LIABILITIES (1) Shareholder's Funds (2) Share Capital 1 3495 3495] (b) Reserves and Surplus 2 “2576 “7571 (<) Monoy received ayaiiist share warrants (2) Share application money pending allotment Co) | (3) Non-Current Liabilities (2) Long-term borrowings 3 2570} 2570} (>) Deferred tax liabilities (Net) 0 oj (c) Other Long term liabilities | oj (¢) Long term provisions | 9 (4) Current Liabilities (2) Short-term borrowings | 9 (b) Trade payables 4 o| | Total Outstanding due of micro enterprise and small Enterprise Total Outstanding due of Creditors Other than micro enterprise and. small Enterprise (c) Other current liabilities | | (¢) Short-term provisions 5 1 1 Total 3490| 3495] Ht.Assets os (1) Non-current assets (2) "Property, Plant & Equipment and Intangible Assets" (i) Property, Plant & Equipment 6 2620} 2620 (ii) Intangible assets 0 | (il) Capital work-in-progress | | {iv) Intangible assets under development | Q (b) Non-current investments tC) oj (c) Deferred tax assets (net) (4) Long term loans and advances o| o (e) Other non-current assets 7 117] 17 (2) Current assets (2) Current investments ° Q () Inventories | oj (c) Trade receivables 9} 9 {(d) Cash and cash equivalents 8 3 12 (e) Short-term loans and advances 9 750 750 (A) Other current assets o| | Total] 3450) 3459) Auditor's Report ‘AS per our separate report of an Even Date For Sanjay Kumar Jindal & Co., (Paveljeet Singh Ruppal) Chartered Accountants, Dirgctor (DIN 00169966) ICAKFRN 10652N, . AR arG6ep Kad Ruppal ) — »\ Director (DIN :00170090) eV Place : Jagadhel (CA, SANJAY JINDAL) ‘SUDIN:- 240892608KCAZNSS91 bated :24/06/2024 PROP. 5 M.NO: 089260 PAN NO: ABRPJOL65HM/S P&R BIKANER SOLAR POWER PVT. LTD. REGD OFFICE :- QUIET OFFICE NO 7, 2D FLOOR, SECTOR 35 A, CHANDIGARH CIN - U40106CH2012PTC033964 Profit and Loss statement for the year ended 31st March,2024 LL Rs. In Thousand Figures as at the | Figures as at the Note | end of current | end of current No. | reporting period | reporting period As at 31.03.24 | As at 31.03.23 sno Particulars T_ JRevenue from operations 11 [Other Income a iy o| Q mM Total Income (1 +11) oO | 1V | Expenses: o| q Purchase of Stack-in-Trade 0 Q | ° | ) | 3| 7 0 q 2| 4 jeust ur inateriais consumed Direct/Production Expenses [Changes in inventories of finished goods, work-in- lproaress and Stack-in-Trade Employee benefit expense Financial costs 10 Depreciation and amortization expense JOther expenses a Total Expenses 5) i ea] v_ [Profit before exceptional and extraordinary items and tax nm -1V} “5 “1 vt | Exceptional items ° q VIL | Profit before extraordinary items and tax (V - VI) 35 “uy vitt | Extraordinary Items | | 1X | Profit before tax (Vi - vit1) = Ti Sal X_ | Tax expense: (2) Current tax 0 q (2) Deferred tax | | (G) Earlier year tax q x1_|Profit(Loss) from the perid from continuing operations} | -1y| XII | Profit/(Loss) from discontinuing operations | | XIII | Tax expense of discounting operations Q q Proft/(Loss) from Discontinuing operations (Xi ~ xiv fxn | | XV | Proft/(Loss) for the period (XI + xIV) =i] XVI | Earning per equity share: (2) Basic | -0.04) -0.03} 2) Diluted _ -0.04] 0.03 Auditor's Report ‘AS per our report at the foot of Annexed Balance Sheet For Sanjay Kumar Jindal & Co., (Paveljeet Singh Ruppal) AR Ypp Becta’ (01-00% 70000) i IN:~ 24089260BKCAZNS591. Chartered Accauntants, DiretSar (DIN :00169966) ICAT FRW 106 : ‘ (earede Retr ruppal ) Place : Jagadhri G } SANJAY JINDAL) Dated :24/06/2024 PROP. L PAN NO: ABRPIOI65H mar OB5260 |M/S P&R BIKANER SOLAR POWER PVT. LTO. REGD OFFICE :- QUIET OFFICE NO 7, CIN - U40106CH2012PTCO33964 NOTES ON FINANCIAL STATEMENTS FOR THE ‘The authorised, issued, subscribed & full of Rs. 10 each as follows 2ND Particulars T_Share Capital Fquity share capital FLOOR, SECTOR 35 A, CHANDIGARH YEAR ENDED AS ON 31st MARCH,2024 Figures for the current reporting period As at 31.03.24 ly paid up share capital compises of equity share having a par value Rs. In Thousand Figures for the previous reporting period As at 31.03.23, Authorised share capital 3500.00 3500.00 350000 Equity shares of 10 each (Previous Year 350000 Equity share) Issued, subscribed and fully paid share capital 3495.30 3495.30, 349530 Equity shares of 10 fully paidup (Previous Year 349530 Equity shares) Calls unpaid 0.00 0.00 Forfeited shares 0.00 0.00 TOTAL 2495.30 3495.30 — 3885.30 3495.30 The detail of Promoter shareholders and change therein during the year Name of the Share Holders As at ‘As at ‘3ist March, 2024 Bist March,2023 No. of Shares held No. of Shares held M/s P&R INFRAPROJECTS LTD. 344500 98.56 344500 98.56 89, Lok Nayak Appartments, Sector-9 Rohini, Dethi-85 CIN-U74210012005LC137557 a) __Reconciliation of Number of Shares Particulars; ~ ‘Sat As at 31st March,24 No. of Shares 3st March,23 No. of Shares Equity shares at the beginning of the year 349.53 349.53 Less: Shares Buy back during the year 0.00 0.00, 349.53 349.53 ‘Add: Shares issued during the year 0.00 0.00 Equity shares at the Closing of the year 349.53 349.53 b) Terms of issue The company has issued shares of only one Class that is Equity share of 10/- Each fully paid up. Every Equity share holder has voting right in fe (Paveljeet Singh Ruppal) Director (DIN :00169966) company in propartion to their share capital, iG au? Ruppal) Director (DIN : 00170090)M/S P&R BIKANER SOLAR POWER PVT. LTD. REGD OFFICE :- QUIET OFFICE NO 7, 2ND FLOOR, SECTOR 35 A, CHANDIGARH CIN - U40106CH2012PTC033964 NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED AS ON 31st MARCH,2024 Rs. In Thousand ANT FIUFES FOP EO FIQUFES ORTHO current previous Particulars reporting Feporting period period As at 31.03.24 As at 31.03.23 2 Reserves and Surplus Capital Reserves 0.00 0.00 Capital Redemption Reserves 0.00 0.00 General Reserve Project Report Subsidy from MNES 0.00 0.00 Subsidy from Winrock International 0.00 0.00 Securities Premium Reserves ‘As per last Balance Sheet 0.00 0.00 ‘Add : Securities premium On issue of shares during the year 0.00 0.00 TOTAL (A) 0.00 0.00 Profit & Loss Account ‘As per last Balance Sheet 2571.40 -2560.40 ‘Add: Profit (Loss) for the year -5.10 =11.00 -2576.50 “2571.40 Less: Bonus Share Allotted 0.00 0.00 Less Premium Paid on buy back of Shares 0.00 0.00 TOTAL (B) 357650 2871.40 TOTAL (A+B) =2576.50 =2571.40 3 Short Term Loans and Advances Loan adcances from Directors 70.00 70.00 Loan adcances from other compnies 2500.00 2500.00 TOTAL 357000 3570.00 4 TRADE PAYABLES Micro, Small and Medium Enterprises ( Undisputed) 0.00 3.10 0-1 Year 0.00 0.00 4-2 Year 0.00 0.00 2-3 Year 0.00 0.00 Micro, Small and Medium Enterprises ( Disputed) 0.00 0.00 Other than Micro, Small and Medium Enterprises(Undisputed) 0.00 1.00 0-1 Year 0.00 0.00 1-2 Year 0.00 0.00 Other than Micro, Small and Medium Enterprises(Disputed) 0.00 0.00 TOTAL 10 880 5 Short-term provisions Statutory Audit Fee Payable 1.00 1,00 TOTAL 1.00 3.00 (Paveljeet Singh Ruppal) (Pardeep Kat Ruppal) Director (DIN :00169966) Director (DIN : 00170090)M/S P&R BIKANER SOLAR POWER PVT. LTD. REGD OFFICE :- QUIET OFFICE NO 7, 2ND FLCOK, SECTOR 35 A, CHANDIGARH CIN - U40106CH2012PTC033964 NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED AS ON 31st MARCH,2024 In Thousand TE US current Previous Particulars reporting reporting period period As at 31.03.24 As at 31.03.23 6 Property, Plant & Equipment and Intangible Assets Land/ Bullding/Plant & Equipment/Furniture & Fixtures/ Vehicles/Office Equipment/ Ollvers (Individually) Opening balance 2620.00 2620.00 ‘Add:- Acquisition through business combination Less:- Other adjustments 0.00 0.00 Additions During the Year 0.00 0.00 Sub total 2620.00 2620.00 Less: Disposals 0.00 0.00 Gross block at year end (a) 2620.00 2620.00 Less: Depreciation Opening depreciation 0.00 0.00 Depreciation for the year 0.00 0.00 Less:- Other adjustments 0.00 0.00 Total accumulated depreciation (b) 0.00 0.00 Net carrying value (a) - (b) 2620.00 2620.00 TOTAL 2620.00 2620.00 7 Other non-current assets Long term trade receivables ‘Secured considered good 0.00 0.00 Unsecured considered good 0.00 0.00 Prepaid Exp. ( Long terms ) 0.00 0.00 Others Securities 0.00 0.00 Pre-Operative Exp. 54.94 54.94 Preliminery Exp, To the extent of Non W/off 62.16 62.16 TOTAL ii7.i0 747.10 Q Ht (Paveljeet Singh Ruppal) Director (DIN :00169966) (Patdees Kaur Rappal) Director (DIN : 00170090)M/S P&R BIKANER SOLAR POWER PVT. LTD. REGD OFFICE :- QUIET OFFICE NO 7, 2ND FLOOR, SECTOR 35 A, CHANDIGARH CIN - U40106CH2012PTC033964 NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED AS ON 31st MARCH,2024 Particulars 8 Cash and cash equivalents Other Balances With Banks Cash on hand TOTAL 9 Short term loans and advances Advances given to Supplier TOTAL 10 Finance Cost Bank Charges 11 Other Administrative Exp. Statutory Audit Fee ROC Expenses Auditor's Report ‘As per our separate report of an Even Date For Sanjay Kumar Jindal & Co., Chartered Accountants ICAT FRN 10652N dw Place : Jagadhri (C.A, SANJAY JINDAL) Dated: 24/06/2024 Prop M.NO: 089260 PAN NO: ABRPION65H UDIN:- 24089260BKCAZNSS91 Rs. In Thousand the Fi Figures tor the Figures forthe current previous repos Feporting period period As at 31.03.24 As at 31.03.23 (Paveljeet Singh Ruppal) Director (DIN : 00169966) (Pardep Kau Ruppal) Director (DIN : 00170090)P & R BIKANER SOLAR POWER PRIVATE LIMITED REGD.OFFICE : QUIET OFFICE NO 7, 2° FLOOR, SECTOR 35A, CHANDIGARH, CIN :- U40106CH2012PTC033964 YEAR ENDED AS ON 31.03.2024 12, Significant Accounting Policies (a) Basis of Preparation The financial statements are prepared in accordance with the Indian Generally Accepted Accounting Principles (GAAP), applicable Accounting Standards issued by The Institute of Chartered Accountants of India and under the historical cost convention, on accrual basis. (b) Use of rsttmares ‘The preparation of Financial statement of the company is on conformity with Indian Generally Accepted Accounting principles require management to make estimates that affect the reported amount of assets and liabilities at the date of ‘the Financial Statement and the reported amounts revenue and expenses, during the reporting period, although these estimates are based on management's best knowledge of current events and actions, actual results may ultimately differ from these estimates, which are recognized in the period in which the results are known/ materialized, (¢) Fixed Assets Fixed Assets are held by the company during the year. (@) Depreciation No Depreciation has been provided during the 2013. ear as per rates prescribed under schedule 2 of companies Act ~ (e) Investments Long terms investments if any are stated at cost, Diminution of permanent nature, if any, is provided for. (8) Inventories Inventory if any are recorded & maintained properly é& valued as per Accounting standard Issued by ICAI, (g) Intangible Assets The intangible assets if any are capitalized in accordance with the relevant Accounting Standard, The cost of such assets is amortized on straight-line method over a period of five years, the estimated economic life of the asset. The carrying value of the capitalized software costs is received at each Balance sheet due, (h) Revenue Recognition (® Revenue is generated in books of accounts on accrual basis, (di)Income from investment is recognized, as and when received (i) Retirement Benefits (No provision has been made for retirement benefits during the year under Audit. ()) Borrowing Cost Borrowing costs that are allocated to the acquisition or construction of qualified assets are capitalized as part of cost of such assets. A qualifying asset in one that necessarily takes substantial petied of time to get ready for intended use. All other borrowing costs are charges to revenue, (k) Foreign Currency Transactions No Foreign currency Transactions have happened! during the Year.() Treatment of Prior Period and Extra Ordinary Items @ Any material (other than those arising out of over/ uncer estimation in earlier years) omission in preparation of earlier years financial statements are separately disclosed. ing as a result of error or (ii) Any material gains/ losses which arise from the events or transaction which are distinct from ordinary activities of the company are separately disclosed. NOTES TO ACCOUNTS: 13, Taxation No Provision for Income tax has been made during the year on current Year profit at the rate prescribed by Income Tax Act-1961 for relevant assessment Year. 14, Provisions, Contingent liabilities and Contingent Assets ‘A provioion is made baged on reliable estiuale wlivu Itty pubable dat an outilow or resources embodying economic benefits will be required to settle an obligation. Contingent liabilities, if material, are disclosed by way of notes to accounts. Contingent assets are not recognized or disclosed in the financial statements. Contingent Liabilities "| Asatat ‘As at3i ] March, 2024 Rs, | March, 2023 Rs. | in Lakhs | In Lakhs (@)_| Claim not acknowledged as debts _ a i) [Sales Tax under appeal Ni_ Nil ii) [Income Tax under appeal Nil Nil (@)_| Bank Guarantees 7 [Ni Nil (| Capital commitments nit Nil 15. Sundry Debtors includes debts due by a concern/ Associated Company in which director has substantial interest is Rs. Nil, 16. Advances recoverable in cash or in kind are all related to business of the Company 17. Deferred Taxation There is No deferred tax liability has accounted during the year because there is no difference in tax liability on account of timing differences on account of depreciation as per Income Tax Act & depreciation as per Companies Act as per definition of accounting standards of AS -22. ‘The Major components of deferred taxation arising out of differences are - Liabilities Asati - March, 2023 Total Liabilities (A) ~ 0.00 0.00 ‘Assets (B) ne 0.00) Net Deferred Tax Liability [A-B] eames |(000 0.00 ‘Opening Deferred Tax Liability [0.00 0.00 Total Deferred Tax Liability “[o.00 (0.00 16, Certain confirmation of balances from Sunciy Debtors, Loans and Advances, Deposits and Sundry Creditors, including Advances received from Customers are awaited and the account reconciliation of some parties, where confirmations have been received, are in progress. Adjustment for differences, if any, arising out of such confirmation/ reconciliation would be made in accounts on receipt of final agreed balances/ reconciliation.19. Managing Director’s Remuneration ‘There is no Director which is designated as Managing Director 2023-23 Salar 0.00 ii)Contribution of Provident Fund 0.00 iii) Monetary value of perquisites 0.00) Total 0.00 20.Miscellaneous Expenses include: Miscellaneous Expenses includes petty expenses. 21. All the revenues consist mainly of consultancy income, Accarclingly revennes from the above products comprise we primary of segmental intormation in these financial statements, 22.Related Parties Disclosure AS-18 (@)Enterprises in which key management personnel have significant influence: 1 P&R Engineering Services Pvt. Ltd 2 | P&R Infraprojects Limited 3 | P&R Agri Energy Pvt Ltd 4 P&R Films Pvt Ltd 5 P&R Gurdittiwala Hydro Power Pvt. Lid 6 ‘Mansarover Holding Ltd. - - 7 Olipha Trading Investment Private.Lid. - 8 | P&R Gogripur Hydro Power Pvt.L 9 |Sopan Merchants Pvt. Ltd (b)Key Management Personnel 1 PAVELJEET SINGH RUPPAL Director 2 PARDEEP KAUR RUPPAL ~~] Director 3 GURU CHARAN SINGH RUPPAL a (¢) Relatives of Director with whom the company has entered! transactions during the year Nil Details of transaction are as follows: i) Sales related Parties Enterprises in which key management personnel have significant influence Nilii) Purchase from related Parties Enterprises in which key Management Personnel have significant influence iil) Commission/rent received ‘paid from /to related parties iv) Outstanding Balance as 31.03.2024 Investment in Associated Concern/ Related Nil NIL Parties: V) Advance from related parties unsecured: NIL 23. A)Basic Earning Per Share __ KS. in thousand EARNING PER SHARE 31.08.2024 31.03.2023 No of Shares for Calculation on EPS 349.53 349.53 ‘Net Profit After Tax 6.09) (11.00) Basic Faring Per Share (0.01) (0.03) Face Value Per Share 10.00 10.00 B)Diluted Earning Per Share = Rs. In Thousand EARNING PER SHARE 31.08 2028 31.08.2023 ‘No of Shares for Calculation on EPS 349.53 349.53 ‘Net Profit After Tax F609) (11.00) Basic Farning Per Share ——T@oiy (0.03) Face Value Per Share 10.00 10.00 24. Auditor's Remuneration Rs, In Thousand [ Audit Fees Rs. 1.00, Taxation matter Rs. NIL. ‘Other services Rs. NIL. For Reimbursement of Expenses RsNIL 25. Details of Benami Property Held during the y property held during the year. As Informed by the management of the company there are no Benami 26. During the year company has not been declared as willful defaulter by any bank or financial institution, 27. The Company has no relationship with any company which is struck off during the year. 28. The company has not traded or dealt with any crypto currency or virtual currency during the year 29. As company is not covered under section 135 of companies act 2013 ( CSR Activities ) so this is not applicable on company, 30. Registration or satisfaction of charges: No charge is pending which is yet to be created or satisfied by the company.31. Accounting Ratios VARIANCE Particul: MORE THAN 2023-24 _| 2022-23 | 25% REASON ‘CURRENT RATIO 0.29 9.30] =1.05% | Due to Decrease in cash DEBT EQUITY RATIO 2.80 | 2.79] 0.39% | Due to Increase in Loss Return on Equity. NA] WAT NA | NA Inventory Turnover NA NA NA | NA Trade Receivable Turnover NA| NA NAT NA Trade Payable Turnover NA NA NA | NA [Capital Turnover Ratiey Na | NA NAT MA Net Profit Ratio NA NA. NA [NA Return on Capital Employed NA| NA NA | NA Return on Investment NA | _NA NA | NA DSCR NA “Nal NA | NA 32, Submission of stock statements: Al] Monthly/Quarterely stock statements if any filed with the bank are in agreement with the books of accounts, 33.Figures for the previous year have been regrouped! recast/ rearranged wherever considered necessary to conform to this year's classification in accordance with revised Schedule I! 34.A\ll the figures have been rounded off to the nearest Thousand, ft (PAVELJEET SINGH RUPPAL) (PARDEEP KAUR RUPPAL) Director Director DIN NO. 00169966 DIN NO. 00170090 SANJAY KUMARJINDAL & Co. (Chartgred Adtduntants) CA Sanjay Jindal (PROP) Membership No. 089260 UDIN: 24089260BKCAZNS591 PLACE: Jagadhri DATED : 24/06/2024