(d) Rights, preferences and restrictions attached to shares Equity shares

The Company has one class of equity shares having a par value of Rs. 5.00 per share. Each shareholder is entitled for one vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders in the ensuing annual general meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are entitled to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to the number of equity shares held by the shareholders.

(c) Rights, preferences and restrictions attached to shares

During the year, the company had issued bonus share in the ratio 1 :1 to its existing equity shareholder vide their board resolution dated October. 26th 2023 by way of capitalization of its security premium. Company has also split its shares by reducing its per equity share face value by subdivided from Rs. 10 each to Rs. 5 each Pursuant to Shareholder's resolution passed at the Extraordinary General Meeting held on October, 26th 2023.

(0 Rights, preferences and restrictions attached to shares

The Company has not bought back share during the last 5 years immediately proceeding March 31.2024.

(a) Retained earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to reserves, dividends or other distributions paid to shareholders. Retained eamings is a free reserve available to the Company and eligible for distribution to shareholder, in case where it is having positive balance representing net earning til! date

(b) General Reserve

The general reserve is used front time to time to transfer profits from retained eamings for appropriation purposes As the general reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in the general reserve will not be reclassified subsequently to profit or loss.

(c) Security' Premium

Share premium used to record premium received on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2023.

32.1 The company has issued and allotted 13.523.189 equity bonus shares in ratio of 1 (one) fully paid up bonus share of the face value ofRs. 10 each for every existing 1 (one) fully-paid equity share of face value of Rs. 10 each held as approved by the members at the annual general meeting held on October 26. 2023 In terms of IND AS 33. impact of the same has been considered in the calculation of Basic and Diluted EPS for the year ended March 31. 2(124 and for the year ended March 31.2023 retrospectively.

32.2 Pursuant to Shareholder's resolution passed at the Extraordinary General Meeting held on October 26, 2023. the face value per equity share of the company was subdivided from Rs. 10 each to Rs 5 each. Accordingly, the calculation above reflects the effect of share split retrospectively tor all the periods presented.

Vole 35: Employer Benefits

Employers Defined Cnntrtbiitiun Plans - Provident Fund

The Company provides Providem Fund facility lo its eligible employees The fund is managed bv Commissioner of Ihe Provident Fund The contributions are expensed as they are incurred in line with the treatment of wages and salaries The liability of the Company is limned to the contribution deducted from the salary of the employee and the Company's share During the year ended March 31. 2024. the Company made contribution plans amounting to Rs 13 43 Millions t for the year ended March 31. 2023 Rs 12 26 Millions) and same has been recognised as an expense in the Statement of Profit and loss F.mploycr Defined Benefit Plans - Gratuity |funded]

The Company provides lor gratuity for employees as per the Pat mem of Gratuity Acl 1972 Employees who are in continuous service foi a period of 5 years aie eligible for gratuity The amount of giatuity payable on retirement, termination of the employees Iasi drawn basic salary per month computed proportionately for 15 dav s salon multiplied by the number of years of service The giaumv plan is a funded plan The Company does not fully fund the liability and make the payments as and when they become due from us own funds

The sensitiyity analysis have been determined based on reasonably possible changes of the lespective assumptions occurring ai ihe end of the reporting period, while holding all other assumptions constant

Tile sensitivity analysis presented above may not be representative of die actual change in the projected benefit obligation as *t is unlikely that the change in assumptions would occur in isolation of one another as

some of the assumptions may be correlated

Furthermore, in presenting the above sensitivity anahsis. the present value of the projected benefit obligation has been calculated using die proiecied unit credit method at the end of the reporting penod. which is the same method as applied m calculating the proiecied benefit obligation as recognised in the balance sheet There was no change in the methods and assumpuons used in preparing ihe sensitivity analysis from pnor years (v> Risk exposure

Through ns defined benefit plans ihe Company is exposed in a number of risks the most significant of which arc detailed below Actuarial Risk:

Adverse Salary Growth Experience Salary hikes that arc higher than the assumed salary escalation will result into an increase in Obligation at a rate that is higher than expected

Variability in withdrawal rates It actual withdrawal rates are higher than assumed withdrawal rale assumption dien die Gratuity Benefits will be paid earlier dun expected The impact of this will depend on whether

the benefits arc vested as ai the resignation date

Variability immortality tales It actual mortality rates are highei than assumed moiialm oie assumption ihen the Graiu i tv Benefits will be paid earhei than expected Since there is no condition of vesting on the death

benefit, the acceleration of cash flow w ill lead to an actuarial loss or gam depending on the relative v alues of the assumed salary growth and discount rate

Investment Risk:

For funded plans lhai reK on insurers for managing Ihe assets, die value of assets certified by the insurer nun not be the larr value of instruments backing the liability In such cases the present value of the assets is independent of die future discount rate Tins can result m wide tlucluauons m die net liability or the funded siatus if there are significant changes m die discount rate during the mter-valuauon period

Discount rate risk:

Liquidity nsk:

Employees with high salaries and long durations or those higher in hierarchs accumulate significant lei el of benefits If some of such emplovees resign/retire from the company there can be strain on the cash flows Market Risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets One aciuanal assumption that has a material effect is the discount rate The discount rate reflects the time value of money An increase in discount rate leads 10 decrease in Defined Benefit Ohligauon of the plan benefits & vice versa This assumption depends on the vields on the corporate/gov eminent bonds and hence the valuation of liability is esposed to fluctuations in die vields as at the valuation date

Regulatory Risk:

Gratuilv Benefit must comply with the requirement of the Payment of Gratuity Act. 1**72 (as amended up-to-date! There is a nsk of change m the regulations requiring higher gratuity payments (e g raising the present ceiling of Rs 2 Millions, raising accrual rale from 15 26 etc )

During the v ear ended March 31. 21)24 and March 31. 2023 there vv ere no amendment, curtailments and settlements in the gratuity plan and post retirement pension plans (vi) Other disclosures

a F.vpected contribution for ne\t vear 112 months! 2*»23-24 Rs 51 AI Millions

b. Weighted average duration of the defined benefit obligation is X 7ii years (Maich 31. 2023 x ‘>3 years!

c. Estimated Cash Flows I Undiscounted) in subsequent years

(i) The earning amounts of current financial assets and liabilities earned at amortised cost closely approximate to their lair values as the impact of discounting on such financial assets or liabilities is not significant considering the instruments matures in a very short time

(ii) Unsecured loans from related parties are repayable on demand and accordingly represents its fair value

(iit) Long-term security deposits are repayable on closure of contracts i c . repayable on demand and accordingly carrying amount reflect its fair values The same can be categorised as Level 3 fair value

(iv) Long-term borrowings carries both fixed and variable rate of interest For variable interest rate borrowings, carrying amounts are considered to represent fair value of such borrowings For fixed rate borrowings fair values have been determined using discounted cash flow approach using the current interest rates The fair values of the borrowings can be categorised as Level 2 fair v alues

Fair value hierarchy

This section explains the judgements and estimates made in determining Ihe fair values of the financial instruments that are |a> recognised and measured at fair value and (bi measured at amortised cost and for which fair values are disclosed in the financial statements To prov ide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard

(a) Level I - Quoted prices in an active market:

This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities

(b) Level 2- Fair values determined using valuation techniques with observable inputs:

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates If all significant inputs requited to fair value an instrument are observable, the instrument is included in level 2

(c) Level 3- Fair values determined using valuation techniques with significant unobservable inputs:

This level of hierarchy includes financial assets and financial liabilities measured using inputs that are not based on observable market data ( unobservable inputs). Fair values are determined in whole or in pan. using a valuation model based on assumptions dial are neither supponed by prices from observable current market transactions in the same instrument nor are Ihev based on available market data

The following table summarises the financial assets and liabilities measured at lair value on a recurring basis and financial assets that are not measured at fair value on a recurring basis (bul fair value disclosure are required)

Note 37: Capital management Rj.sk management

The Company 's objectives when managing capital ate to

(at safeguard then ability to continue as a soma concern so that they can continue to provide icturns for shareholders and benefits Tor other stakeholders and Eb i Maintain an opiunal capital stiuctutc to icducc the cost ot capital

The capital structure of die Contpam consists of debt cash and cash equivalents and cquilv attributable to cquitv shareholders ufthc Com pans which comprises issued share capital and accumulated reserves disclosed in the Statement nr Changes in Equm and debts appearing as pan of the bonon mas

The capital suucturc ol the Companv is based on management > ludgcmem of the appropriate balance of key elements in order to meet ns strategic and day-to-day needs The Company manages its capital structure and makes adjustments in tight ol changes in economic conditions and the requirements of the financial covenants The funding requirement is met thtough a mixture of equity, long icrm borrowings and short term boriowmgs

Note 3‘J: Financial risk manancmcni

In the course of ns business the Companv is exposed primarily 10 fluctuations in interest rales liquidio and credit risk which mav adv erseh impact the fan value of its financial instruments In older to minimise any adverse effects on the financial performance ol die Companv the Coin pant has risk manage mem policies as dcscnhcd bcl<m

(A) Credit risk

Credit risk is the risk that counterparty will not meet its obligations undci a financial instrument or cuslonici contract leading lo a financial loss The Companv is exposed to cicdil risk front US operating activities tprimarth trade receivables! including deposits with hanks and financial institutions foreign exchange transactions other ftnan.ul instnimciiLs earned at amoiused cost

Financial instruments that ate subject to credit risk and concentration thereof principalis consist of trade receivables cash and cash equivalents and other bank balances held by the Companv Trade receivables, cash anil cash equivalents and uliiei bank balances of the Companv lesuil in material con-.edU a lion of credit risk

Trade receivables

Customci credit risk is managed by the Company thtough established policy and procedures and conuol relating to customer credit risk management Trade icceivabks arc non-tnlcicst beating and are generally carrying 30 to fat days ticdil terms Hie Companv has a detailed rev »C" mechanism of overdue custnmet receivables ai various levels u ithin the -u eamialmn lo ensure proper attention and locus t« realisation The Company periodical^- assesses the financial reliability or customers taking into account the financial condition current economic trends and ageing of accoums receivable

Financial assets arc considered 10 be of good qualilv and ihcrc is no sientlicaril increase in credit risk

The icquncmcm tor unpanmcni is analvscd at each reporting dale The Companv receivables turnover is quick and historically there was no significant defaults on account ol those customer in the past Ind AS requires an emits to recognise in profit or loss the amount of expected credit losses ux reversal l that is required lo adjust the kiss allowance at the repotting date 10 the amount that is required to be recognised m accordance with Ind AS IW. Financial Instruments Expected credit losses arc measured at an amount equal lo the life time expected credit losses The Company has used a practical expedient by computing die expected credit loss allowance for trade receivables based on a provision maim The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information The outstanding receivables aie regular Iv monitored to minimise the credit risk

The Company evaluates the concentration of risk w tth respect to liade receivables as low. as its customers arc located in SC'era! Jill isdicuons and industries and operate in largely independent markets Of the bade receivables balance Rs >53 75 Millions in aggregate iRs 251 *17 Millions as at March 31 20231 is due from the Company's customers individually representing more than ^<s«of the total trade receivables balance and accounted for appro vunatcfv % 4V Hi*-., as at Mai eh 31. 2024 41 *Ý« as at Match 31 2023 ol all the receivables outstanding.

Other financial instruments anil hank deposits

Credit risk fioni balances with banks is managed hv the Companv s finance department in accordance with die Companv s policy Counterparty credit limits arc reviewed by the Pareni Companv v Board of Directors on an annual basis and mav he updated throughout the vcai vubicct to appioval of the Company s Board of Duecinis The limits ate set to minimise the concentration of risks and therefore mitigate financial loss through counterpart! < potential fwlutC Ul make payments Balances with banks and deposits aie placed only with highh rated banks financial institution

(B) Liquidity rivk

Liquidity risk* is the risk that an emus w ill encounter difficulty m meeting obligations associated with financial liabilities that aie settled Iw delivering cash or another financial asset

Management monitors foiling forecasts of ihe Companv s liquidity position and cash and cash equivalents on the basis of expected cash (lows This is generally perfoimcd in accordance with practice and limns sci by the Companv

Maturities of financial liabilities

The tables below analyse the Company's financial liabilities into relevant maturity based on then contractual maturities

The amounts disclosed in the table are the contractual utidiscoumcd cash flows Balances due within 12 months equal their earning balances as the impact of discounting is not significant

<0 Market Hi»h

Inlrrcit rale risk

Interest rate nsl> is the risk that the fair value or fuluic cash Aims of a financial instrument will fluctuate because of changes in market interest rates The Comparts s exposure to the risk of changes in market interest rates relates primanh to the Com pain » debt obligations with floating interest tales

The Conipam s fixed rate borrowings arc earned al amortised tost Tlicv aie therefore not subiccl to interest rale risk since neither the earning amount Bor the future cash flows Will fluctuate because of a change in market interest rates

Note 5|: Utilitulinn of hummed fund or share premium

No funds hate been advanced or loaned or invested (either from borrowed funds or share premium or ant other sources or kind of funds I by the Com pan' to or in ant other person! s) or cnlilylicst. including foreign entities ! Inter Tiled lanes ’). with the understanding, whclhei recorded in writing or otherwise, dial ihc Intermediary shall whether, dirccth' or indirectly laid or invrst in other persons or entities identified m am manner tt hatsoct cr bt Or on behalf of the Company ("Ultimate Beneficiaries'^-) or provide ant guarantee securitt or the like on behalf of the Ultimate Beneficiaries

No funds hate been received bt the Com pant from ant person! si or aiLiltiicsl including foreign entities I Funding Parlies') with the understanding whether recorded in writing Of otherwise that the Com pant shall, whether, directly or indirectly, lend or invest m other persons or entities identified m ant manner w hatsoet er by or on behalf ol the funding Pant I Ultimate Beneficiaries") nr prot ide any guarantee, security 01 the like on behalf of the Ultimate Beneficiaries Note 52: L ndiM.lmct] Income

There is no uicomc surrendered or disclosed as income during the cuircut or pret ious tear in the tax assessments under Income Tax \cl I ‘hi I ihai has n.11 been recorded in the books of accounts

Note 53: Compliance with approval scheme and arrannenirni

The Comparn has not entered into am Scheme Ol arrangement «Inch has an accuuntnu: impact on current or previous linanciai tear

Note 54: Loan and advance to specified person

There are no loans and advances which are given to specified person as defined in Companies Act 2<i I'

N«tc 55: Detail* of cry pm currency nr virtual currency

The Company has not traded or invested in Crypto currency or Virtual CuIrenet during the current and previous financial tear

Nine 54: V a lu a (hi n uf PPAE, ri"ht-uf-usc assets, intangible asset and investment property

The Cotnpant has not ret alued its properly plant and equipment (including nght-of-use assets I or intangible assets or both during the current or pret tout financial year

Note 57: Utilisation of burrow ings availed from hanks and financial inslitulinns

The Cesmpant has not used die borrowings from bonks and financial mtmucrons for die specific purpose f>x which « vs as taken during the current nr pret wus financial year N'utc 5K: Compliance with number nf laser* of ( a nip a mo

The Company docsn l hate ant downstream subsidiary Companies hence complied with the number ol lot ers piesenhed under clause i X71 of section 2 ol the Act read with the Companies 1 Restriction on number ol Layers) Rules. 2017 is not applicable

Note 59 The Code on Wages 2019 and Code of Social Security 2020 < the Codes i relating to cmpkjtcc compensation and posi-cmplovmctu benefits had rocciv cd Presidential assent but the rotated rules thereof for quantifying the financial impact have not been notified The Crun pant will assess the impact of the Codes w hen the rules arc notified and w ill record am related impact in the period the Codes become cITccut c

Mule 6(1 The dn idend paid by die Company is based on the profit available for distribution as reported in the financial Statement Tlic company had not declared or paid ant dividend during the year therefore compliance with section 123 of the Companies Act 2013 is not applicable Note 61: Impact of the Covtd-19

The Company has considered 1mem.1l and external sources of information up to the date of approval of these financial statements in evaluating the possible effects that mat result from the pandemic relating to C0VFD-I9 on the earning amounts of trade receivables The Ccwi pain has applied prudence m arm mg at ihc estimates and assumptions The C nnipam is confident aboui the recovcrabilitt of these assets

Noli: 62: Reclassification

Previous tear figures have been regrouped rc.viangcd reclassified wherever ncccssart further there arc no material regrouping reclassifications during the tear Note 63: Appnnal nf financial itatcnit-nls

The financial statements has been apprm ed lor issue bt the resolution ol the board of directors dated Mat 15. 2"24