(i) interest amount incurred during the construction period amounting to INR 397.74 Lakh has been capitalised during the year 2022-23 under Buildings as per provision of ind AS 23.

(ii) Reclassification of items between Propertyplant and Equipment and Investment Property amounting to Rs.12.77 Lakh applied as per provisions of ind AS 40 at the beginning of Financial year 2022-23.

(iii) Building includes building on lease hold land amounting to INR 3608.23 Lakh.

1 Impairment of Assets

in the opinion of the management, there is no impairment as on the date of the balance sheet in the value of the carrying cost of intellectual Property Rights (IPR) of the Company within the meaning of ind AS 36 on impairment of Assets issued under Companies (Accounting Standards) Rules 2015, considering the revenue earning potential of the assets.

1. The Company during the financial year 2019-20 made an investment of 26,09,000 6 % cumulative redeemable preference shares ( face value of Rs.10/- per share). The Investment has been fair valued In accordance with the provisions of Ind AS 109 and the equity component of Rs.116.17 Lakhs has been disclosed above and the debt component of Rs.243.91 Lakhs ( 31 March 2023 : Rs. 226.94 Lakhs ) has been disclosed separately under Note 11 (Also refer Note 40B

2. The Company has made investments of 9,00,000nos of equity shares in the year 2019 and 80,070nos of equity shares in the year 2019 which consists 100% Subsidiary Company M/s. Accel OEM Appliances Limited to the extent of Rs.98.01 Lakhs (previous year Rs.98.01 Lakhs) and the loss on account of the residual value of the investment is written off to the extent of Rs.46.01 Lakhs and has been shown in the accompanying Standalone Financial Results as an exceptional item. Though the company had carried these investments at cost and did not envisage dimunition in value till 31 March 2023 ; however decided to strike off the company and has made an application on dated 30.04.2024 to Registrar of Companies for Striking off the name under Fast Track Exit mode as prescribed in the Companies Act, 2013.

3. The company's unquoted investments are not held for trading but for long term strategic purposes. The company believes that recognising short term fluctuations in the fair value of these investments in profit & loss would not be consistent with the company's strategy of holding these investments for a long term and realising the potential in the long term.

4 The management believes that the expected benefits from these investments , will take a longer than earlier estimates due to various changes that have occurred in business conditions The management believes that the carrying amounts are lower than the recoverable amounts based on discounted value of the future cash flows to be generated and there won't be any impairment in the long run.

1 These balances represent interest-bearing margin money deposits given as lien to obtain bank guarantees. They are issued to customers as collateral for the execution of contracts.

These balances are restricted and are therefore not available for general use by the Company.

2 Unpaid Dividend amounting to INR 1.83 lakhs will be transferred to Investor Education and Protection Fund during 2024-25.

Rights, preferences and restrictions attached to equity shares Equity shares

(i) The Company has only one class of equity shares having a par value of Rs.2/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.

(ii) In the event of the liquidation of the Company, the holder of equity share will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be proportionate to the number of equity shares held by the shareholders.

Capital management policies and procedures

The Company's capital management objectives are:

- to safeguard the Company's ability to continue as a going concern, and continue to provide optimum returns to the shareholders and all other stakeholders by building a strong capital base.

- to maintain an optimum capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Company may adjust the return capital to shareholders, issue new shares, or sell investments / other assets to reduce debt.

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders plus its borrowings and cash credit facility, if any, less cash and cash equivalents as presented on the face of the balance sheet. The Company manages the Capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. The amounts managed as capital by the company for the reporting years are summarized as follows:

The company is hopeful of receiving the refund of tax assets with applicable interest and the above calculations have been made without considering this asset.

a) Capital Reserve

Capital reserve created for the purpose of meeting company's unexpected expenses,

b) Capital Redemption Reserve

Capital Redemption Reserve created in order to compensate for the reduction of capital base during the buy-back of shares,

c) Securities Premium

Securities premium comprises of the amount of share issue price received over and above the face value of Rs.2/- each,

d) Assets Revaluation reserve

The Company had revalued assets and created the Assets revaluation reserve as per provisions of the companies Act,

e) Retained earnings

Retained earnings represents the amounts of accumulated earnings of the Company,

f) Other reserve

Other reserve represents an appropriation of profits by the Company.

g) Accumulated other comprehensive income

Represents remeasurement of defined benefit liability which comprises of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability

21 (B) Distribution made and proposed

Cash dividend on equity shares declared and paid:

Dividend for the year ended March 31, 2023 : Rs. 0.30 /- per share (March 31,2022: Rs. 0.30 / -per share)

Proposed dividend on Equity shares:

Proposed dividend for the year ended March 31,2024: Rs.0.30 /- per share subject to the approval at the ensuing Annual General Meeting.

Company owns various immovable properties and all such properties have been mortgagaed against various facilities granted to the company by Banks,

During the financial year the company availed a foreign currency term loan, in lieu of existing term loan. The interest rate is USD SOFR (compounded) plus 150 bps , % p,a, The amount Outstanding as on the date of the Balance sheet is USD 2,444,040,56 (INR - 2038,45 Lakhs) and USD 401,209,38 ( INR - 334,63 Lakhs), The difference in exchange rates on the carrying value of the loan has been charged to the Profit & Loss account,

i) This includes Export of service INR 201.72 Lakhs (31 March 2023 : 168.15 Lakhs)

ii) This includes Export of service INR 84.62 Lakhs (31 March 2023 : 119.02 Lakhs) a) Entity's remaining performance obligation

The aggregate amount of transaction price that is allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period is Rs. 14.87 Lakhs. The management expects to be recognise the same as revenue in the subseguent years as detailed in the below table:

38 Earnings per equity share

For the purpose of computing the Earnings per share, the net profit after taxes has been used as the numerator and the weighted average number of shares outstanding has been considered has the denominator,

a. Basic and diluted earnings per share

The calculations of profit attributable to equity shareholders and weighted average number of eguity shares outstanding for purposes of basic and diluted earnings per share calculation are as follows;

The Company has not disclosed the fair values of financial instruments such as Trade receivables, Other Finanancial assets, Trade payables, other financial liabilities, borrowings and lease liabilities, since their carrying amounts are reasonable approximations of their fair values.

Management recognises all financial assets and liabilities at amortised cost and considers it to approximate fair value. The company does not have any assets measured at FVOCI.

Fair value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into three levels as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than Quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - I nputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

B. Measurement of fair values

There were no level 3 or unobservable inputs that were used in the valuation of financial assets or liabilities noted above.

C. Financial risk management

The Company has exposure to the following risks arising from financial instruments:

- credit risk;

- liquidity risk; and

- market risk

i. Risk management framework

The Company's Board of Directors has the overall responsibility for the establishment and oversight of the Company's risk management framework. The Board of Directors along with the top management are responsible for developing and monitoring the Company's risk management policies.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

ii. Credit risk

Credit risk is the risk of financial loss to the Company, if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from the Company's receivables from customers; loans and investments in debt securities.

The carrying amounts of financial assets represent the maximum credit risk exposure.

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the default risk of the industry and country in which the customer operates, also has an influence on credit risk assessment.

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine incurred and expected credit losses. Given that the macro economic indicators affecting customers of the Company have not undergone any substantial change, the Company expects the historical trend of minimal credit losses to continue. Further, management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full , except to the extent already provided, based on historical payment behaviour and extensive analysis of customer credit risk. The impairment loss at the reporting dates relates to several customers who have defaulted on their payments to the Company and are not expected to be able to pay their outstanding balances, mainly due to economic circumstances.

The Company determines credit risk based on a variety of factors including but not limited to the age of the receivables, cash flow projections and available press information about customers. In order to calculate the loss allowance, loss rates are calculated using a 'Roll rates' method based on the probability of a receivable progressing through successive stages of delinguency through write-off. Roll rates are calculated separately for exposures in different stages of delinguency primarily determined based on the time period for which they are past due. The Company assumes a 100% loss rate in case of trade receivables that are more than 730 days past due as it believes that the probability of collection in such cases are remote.

Cash and Bank balances (includes amounts classified under other Bank balances and deposits and other receivables)

The Company holds Cash and Bank balances of Rs.914.31 Lakhs at 31 March 2024 (31 March 2023: Rs.296.54 Lakhs). The credit worthiness of such Banks and financial institutions are evaluated by the management on an ongoing basis and is considered to be good.

Security deposits

This balance is primarily constituted by deposit given in relation to leasehold premises occupied by the Company for carrying out its operations. The Company does not expect any losses from non-performance by these counter-parties.

iii. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include contractual interest payments and exclude the impact of netting agreements:

iv. Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates and interest rates will affect the Company's income or the value of holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters and optimise the returns.

Sensitivity analysis

A reasonably possible strengthening (weakening) of the US Dollar against INR at 31 March would have affected the measurement of financial instruments denominated in a foreign currency and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases.

Fair value sensitivity analysis for fixed rate instruments

In respect of the fixed rate borrowings and Bank deposits the Company is not exposed to any fair value risk and as such any changes in the interest rates does not have any impact on equity or profit and loss.

The following table illustrates the sensitivity of profit to a reasonably possible change in interest rates of /- 1% for the year ended 31 March 2024 and 31 March 2023. These changes are considered to be reasonably possible based on observation of current market conditions. The calculations are based on a change in the average market interest rate for each period, and the financial instruments held at each reporting date that are sensitive to changes in interest rates. All other variables are held constant.

41 Due to Micro, Small and Medium enterprises

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated 26 August 2008, which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the Micro, Small and Medium Enterprise Development Act, 2006 ('the Act'). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at 31 March 2024 has been made in the financial statements based on information received and available with the Company.

44 Property, Plant and Equipment and Investment Property(a) Lease Hold Land

Leasehold property includes Rs.77.27 lakhs being the value of Land Lease ( for 90 years ) acquired from KINFRA Film & Video Park (KINFRA), a Government of Kerala Undertaking to the company for construction of building to carry on Animation related business which was later on changed to IT and ITES business , for which the registration formalities were to be completed. As per the original allotment, the said land is on a 90 year lease arrangement and has to be developed within a period of 3 years from the date of allotment i.e. on or before 05 April 2010. The said Land could not be developed within the time frame agreed on account of the difficult scenario being faced by the Animation Industry in general and the Group in particular. KINFRA , in the meantime has changed the status of the SEZ from Animation to include IT/ITES also. This has been approved by the Ministry of Industries and Commerce vide its letter dated 7 February 2012. The Company has completed the construction of a commercial building for IT/ITES under SEZ Status in May'2022. As per the Lease Agreement dated 28 June 2021, the lease period is mentioned as 77 years and 1 month commencing from 5 March 2021 . Accordingly the Company has decided to amortise the Land over the balance lease period as mentioned above.

(b) Impairment of Assets

in the opinion of the management there is no impairment as on the date of the balance sheet in the value of the carrying cost of intellectual Property Rights (IPR) of the company within the meaning of Indian Accounting Standard - 36 on impairment of Assets issued under Companies (Indian Accounting Standards) Rules 2015, considering the revenue earning potential of the company and based on the estimated future cash flows upon crystallization of enquiries received by the company for the intellectual property rights carried in the books as intangible assets.

(c) Land and Building

The Company has created mortgage on the Land and building in favour of Banks for availing Cash credit, Term loan, Rent securitisation loan for the Company and Cash credit facility and for availing term loan for one of the subsidiary Company.

45 Investments

investments in subsidiaries and Associate are stated at cost using the exemption provided as per ind AS 27 - Separate Financial Statements.

The management believes that the carrying amounts are lower than the recoverable amounts based on discounted value of the future cash flows to be generated and there won't be any impairment in the long run.

46 Leases as lessee (Ind AS 116)

The leased assets of the Company include warehouse buildings and plant and machineries which are taken on lease for providing warehousing, printer managed services to the customers. The leases typically run for a period of 1 to 5 years, with an option to renew certain leases after that date. Previously, these leases were classified as operating leases under Ind AS 17. On transition to Ind AS 116, the Company recognized right to use of assets at its carrying amount as if the standard has been applied since the commencement of the lease. The summary of the movement of right-of-use assets for the year is given below:

On transition to ind AS 116, the Company recognized lease liabilities measured at the present value of remaining lease payments. The following table sets out a maturity analysis of lease payments, showing the undiscounted lease payments to be received after the reporting date.

47 Other Financial Assets

a The company has given an inter corporate advance of Rs.329 Lakhs (PY Rs.329 Lakhs) in the books shown under "Other Financial Assets Non-Current” in the financial statements . The management is of the view that there is no diminution to the carrying value of these loans and advances, however a provision of Rs.329 Lakhs (PY Rs. 160 Lakhs) has been created in the books on a conservative basis during the year, though the management is confident of recovering the said advance.

b. The Company had Invested in Preference Shares and had given unsecured loan to Accel Media Ventures Limited, a subsidiary of the Company to meet the working capital reguirements . As at 31 March 2024 , the amount outstanding net of repayment received was Rs.490.89 Lakhs ( 31 March 2023 : Rs.361.69 Lakhs) as disclosed in the financial statements under "Loans " - Note 11 in the financial statements. The company has tested the impairment of these assets and is of the view that there is no diminution to the carrying value of these loans taking cognizance of the proposal to amalgamate the subsidiary Company with Accel Limited.

48 Confirmation of Balances:

Balance at the end of the financial year for Trade receivable, Trade payable, Loans and advances, advance received from customers are subject to confirmation. The Management is of the view that there is no permanent change to the carrying value of these loans and advances, trade receivables and trade payables except for the provision considered in this regard in the accompanying financial statements.

49 a) Employee Benefits(Defined Benefit Plan)

The Company operates the following post-employment defined benefit plans: i) Gratuity

In accordance with applicable Indian laws, the Company provides for gratuity, a defined benefit retirement plan ("the Gratuity Plan”) covering eligible employees. The Gratuity Plan provides for a lump sum payment to vested employees on retirement (subject to completion of five years of continuous employment), death, incapacitation or termination of employment that are based on last drawn salary and tenure of employment. Liabilities with regard to the Gratuity Plan are determined by actuarial valuation on the reporting date.

The company has established a trust by name, Accel Employees Group Gratuity Trust w.e.f. January 31, 2022 and has made necessary applications to Income Tax department for approval.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

A. Funding

The Company has a fund balance of INR 46.67 Lakhs in the gratuity fund, maintained with BaJaJ Allianz Life Group Employee Care, net of gratuities settled, since inception, which is approximately 20 % of the total liability arrived at on actuarial basis as on 31 March 2024.

B. Reconciliation of the net defined benefit (asset)/ liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit (asset) liability and its components:

b) Employee Benefits (Defined Contribution Plan)

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of Qualifying employees towards Provident Fund (PF) and employees' state insurance (ESI) scheme which are defined contribution plans. The Company has no obligations other than to make the specified contributions. The contributions are charged to the statement of profit and loss as they accrue. The amount recognised as an expense towards contribution to Provident Fund and ESI for the year aggregated to INR 359.86 Lakhs (31 March 2023: INR 372 Lkahs ) ii) Compensated Absences

The liability in respect of the company, for outstanding balance of privilege leave at the balance sheet date is determined and provided on the basis of actuarial valuation performed by an independent actuary. The Group does not maintain any plan assets to fund its obligation towards compensated absences

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

A. Funding

The Leave encashment plan of the Company is a unfunded plan,

B. Reconciliation of the net defined benefit (asset) / liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit (asset) liability and its components:

50 Operating segments

The company is engaged in the business of IT Service, Animation, Engineering, Real Estate and academic business.

A. Geographic information:

(i) The geographic information analyses the Company's revenue by the Company's country of domicile and other countries. In presenting the geographical information, revenue has been determined based on the geographic location of the customers.

51 Subsequent events

There are no significant subsequent events that have occurred after the reporting period till the date of this financial statements.

53. The Company has proposed to amalgamate one of its subsidiary Accel Media Ventures Limited with the Company effective 1st April 2024 and necessary steps have been initiated in this regard.

54. Previous year's Figure have been regrouped, recasted and rearranged wherever necessary, to suit the current period layout.