k) Provisions

A provision is recognized when the Company has a present obligation as a result of past
event; it is probable that an outflow of resources will be required to settle the obligation,
in respect of which a reliable estimate can be made.

The expense relating to any provision is presented in the statement of profit or loss, net of
any reimbursement. If the effect of the time value of money is material, provisions are
discounted using a current pre-tax rate that reflects, where appropriate, the risks specific
to the liability. Where discounting is used, the increase in the provision due to the passage
of time is recognised as part of finance costs.

l) Contingent liability

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.

m) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise 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
consists of cash and short-term deposits, as defined above, net of outstanding
bank overdrafts as they are considered an integral part of the Company's cash
management.

n) Previous year figures are regrouped/rearranged/ reclassified, wherever
considered necessary to confirm to the current year presentation.

Note 2.3 Related Party Disclosure

During the financial year ended March 31, 2024, all transactions with the Related
Parties as defined under the Companies Act, 2013 read with Rules framed
thereunder were in the 'ordinary course of business' and 'at arm's length' basis.
Company does not have a 'Material Unlisted Subsidiary' as defined under
Regulation 16(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 ['Listing Regulations'].

There has been no materially significant Related Party Transactions during the
year under review, having potential conflict with the interest of the Company.
Necessary disclosures required under the Ind AS-24 have been made in the Notes
to the Financial Statements for the year ended March 31, 2024.

(a) Crypto Currency or Virtual Currency

(b) Benami Property held under Benami Transactions (Prohibition) Act, 1988 (45 of 1988)

(c) Registration of charges or satisfaction with Registrar of Companies.

(d) Relating to borrowed funds:

i. Wilful defaulter

ii. Utilization of borrowed funds & share premium

iii. Borrowings obtained on the basis of security of current assets

iv. Discrepancy in utilization of borrowings

2.7 Disclosure of Struck off Companies:

The Company does not have any transactions with companies struck off under section 248 of
the Companies Act, 2013 or section 560 of Companies Act, 1956.

2.8 Dues to Micro & Small Enterprises

The are no dues to micro and small enterprises as required under micro small and Medium
nterprises Development Act 2006

2.11 Balance confirmation

Wherever the balance confirmation is not available from the parties, the balances as appearing
in

he books of accounts have been considered.

2.12 Rounded off

The Figures have been rounded off to the nearest rupees in thousands except when otherwise
stated.

2.13 The previous period figures have been regrouped/reclassified, wherever considered necessai
to conform to the current year's presentation/classification.

2.14 First time adoption of Ind AS:

The financial statements, for the year ended 31 March 2018, were the first Financial Statement of the Compan
in accordance with Ind AS.

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods <
2024, together with the comparative period data for the year ended 31 March 2023, as described in the summa
accounting policies.

2.15 Segment Reporting

The operation of the Company is considered as a single segment, hence segment reporting as defined in
Operating segments, is not applicable.

As per our report of even date For and on behalf of the Board of Directors of

Euro Asia Exports Limited

For A. Sachdev & Co.

Chartered Accountants

FRN: 001307C

Mukund Murari Rakesh Kumar Singal

Director Mg. Director

DIN: 08606277 DIN: 06595139

B K Agarwal

Partner
M.No. 090771

Priyanka Sharma
Company Secretary

Date: 28th May 2024 M.No.-72442 Ekansh Bansal

Place: New Delhi CFO