xiii) Contingent Liabilities

A contingent liability is a possible obligation
that arises from past events whose existence
will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future
events beyond the control of the Company
or a present obligation that is not recognized
because it is not probable that an outflow
of resources will be required to settle the
obligation. A contingent liability also arises in
extremely rare cases where there is a liability
that cannot be recognized because it cannot
be measured reliably. The Company does not
recognize contingent liability.

xiv) Segment Reporting

The Company is engaged mainly in only
one business segment i.e. construction
of "Engineering, Procurement, and
Construction" (EPC) contracts. However,
there are no reportable segment other than
EPC construction contracts, as none of them
meet the quantitative threshold criteria as
prescribed. The Group is primarily operating
in India which is considered as single
geographical segment.

Terms / Rights attached to Equity Shares

The Company has only one class of equity share having par value of C 5/- per share (PY: C 10/- per share). Each
holder of the equity share is entitled to one vote per share. Whenever the company declares dividend it will
be paid in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting.

During the year, the Company issued 13,60,000 equity shares, at a price of ^100 per share, which includes
a securities premium of ^190 per share. These equity shares rank pari passu in all respects with the existing
equity shares of the Company and carry identical rights and entitlements.

During the year, the Company undertook a sub-division (split) of its equity shares in the ratio of 2:1, wherein
each equity share having a face value of ^10 was split into 2 equity shares of ^5 each. Accordingly, 1,23,37,839
additional shares were allotted, without impacting the overall share capital value.

During the year, the Company issued 13,60,000 equity shares, at a price of ^100 per share, which includes
a securities premium of ^190 per share. These equity shares rank pari passu in all respects with the existing
equity shares of the Company and carry identical rights and entitlements.

The Company issued bonus shares in the ratio of 1:4, i.e., one fully paid-up equity share for every four equity
shares held, by capitalizing the securities premium. A total of 61,68,919 bonus shares were allotted. These
bonus shares rank pari passu in all respects with the existing equity shares of the Company.

During the year, the Company successfully completed its Initial Public Offering (IPO), issuing 1,18,76,800
equity shares at a price of ^83 per share, including a premium of ^78 per share. The IPO proceeds were utilised

8.1) The Company has availed a Cash Credit facility of ^3,565.00 lakhs from ICICI Bank. The said facility,
including all interest, liquidated damages, prepayment premia, and any other amounts payable under the
arrangement, is primarily secured by way of hypothecation of the entire current assets of the Company,
including inventories, trade receivables, movable fixed assets, and fixed deposits, covering the full extent
of the working capital limits.

In addition, the facility is secured by way of an equitable mortgage over two (2) immovable properties and
further supported by personal guarantees extended by the directors of the Company. The facility carries
an interest rate of 9.10% per annum, calculated on daily outstanding balances. The credit limit is being
utilised for meeting the day-to-day working capital requirements of the business.

18.1) Advance against purchases represents the monetary payments made to the suppliers of specialised
steel / equipment / made to order goods in order to ensure timely supply of the same to the projects as
per the approved project schedule by the clients.

18.2) The customer retains certain amounts as per the contractual terms which usually fall due on
the completion of contract. These “"Retentions”” are made to protect the customer from the
Company failing to adequately complete all or some of its obligations under the contract.
For contracts where the aggregate of contract cost incurred to date plus recognised profits (or
minus recognised losses as the case may be) exceeds the progress billing, the surplus is shown as
contract asset and termed as “Unbilled Revenue”. For contracts where progress billing exceeds the
aggregate of contract costs incurred to-date plus recognised profits (or minus recognised losses,
as the case may be), the surplus is shown as contract liability and termed as “Due to customers”.
Amounts received before the related work is performed are disclosed in the Balance Sheet as
contract liability and termed as “Advances from customer”. The amounts billed on customer
for work performed and are unconditionally due for payment i.e. only passage of time is
required before payment falls due, are disclosed in the Balance Sheet as trade receivables.
The amount of retention money held by the customers pending completion of performance milestone
is disclosed as part of contract asset and is reclassified as trade receivables when it becomes due
for payment.

NOTE 33 Ganesh Infraworld Limited ("the Company”) was originally established as a partnership firm
under the Indian Partnership Act, 1932. It was subsequently converted into a private limited
company, Ganesh Infraworld Private Limited, on February 13, 2024, and later restructured as a
public limited company, Ganesh Infraworld Limited, on June 1, 2024.

Due to this transition, financial comparisons for the Year ended March 31, 2024, pertain only to
the period from February 13, 2024, to March 31, 2024.

NOTE 34 In the opinion of the board of directors the current assets, loan & advances are realisable in
ordinary course of business at least equal to the amount at which they are stated in the Balance
Sheet. The loans and advances made by company are unsecured and treated as current assets
and not prejudicial to the interest of the Company.

NOTE 35 All the known income and expenditure and assets and liabilities have been taken into account
and that all the expenditure debited to the profit and loss account have been exclusively incurred
for the purpose of the company's business.

NOTE 36 Balance in the accounts of debtors, creditors and advances are subject to confirmation/
reconciliation/adjustment from the respective parties.

NOTE 37 No significant subsequent events have been observed which may require an adjustments to the
financial statements.

NOTE 38 Previous Year Figures have been regrouped/reclassified wherever necessary to correspond with
the current year's classification/disclosure.

NOTE 39 Additional Regulatory Information As Per Para Y Of Schedule III To
Companies Act, 2013

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) Act,
1988 and rules made thereunder.

ii) The Company has not revalued its Property, Plant and Equipment. The Company does not have any
intangible assets under development. The Company does not have any capital work-in-progress.

iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

iv) The Company has not traded or invested in Crypto Currency or Virtual Currency during the current and
previous financial year.

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

vi) The Company has not granted any loans, not made any investments and has not provided guarantees and
securities as applicable with the provisions of Section 185 and 186 of the Companies Act, 2013.:

vii) The Company has not 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.

viii) The Company did not have any material transactions with companies struck off under Section 248 of the
Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

ix) The Company has not entered with any Scheme(s) of arrangement in terms of sections 230 to 237 of the
Companies Act, 2013.

x) The company does not have any investments and hence, compliance with the number of layers prescribed
under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules,
2017 is not applicable.

xi) A. No funds have been advanced or loaned or invested (either from borrowed funds or share premium

or any other sources or kind of funds) by the Company to or in any other persons or entities, including
foreign entities ("Intermediaries”), with the understanding, whether recorded in writing or otherwise,
that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified
in any manner whatsoever ("Ultimate Beneficiaries”) by or on behalf of the Company or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

B. No funds have been received by the Company from any persons or entities, including foreign entities
("Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the
Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner
whatsoever ("Ultimate Beneficiaries”) by or on behalf of the Funding Parties or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.

As per our report of even date attached.

For Piyush Kothari & Associates For and on behalf of the Board of Directors

Chartered Accountants GANESH INFRAWORLD LIMITED

FRN. 140711W

CA. Piyush Kothari Vibhoar Agrawal Rachita Agrawal

Partner Chairman, MD and CEO Non-Executive Director

M. No. 158407 DIN: 02331469 DIN: 07935029

UDIN: 25158407BMJGAU1266

Bharti Mundhra Sudhir Kumar Ojha

Place : Kolkata Company Secretary & Compliance Officer Chief Financial Officer

Dated : 25^th April, 2025 M. No. A33363