k) Provisions, contingent liabilities and contingent
assets

Provisions are recognized when the Company has a
present obligation (legal or constructive) as a result
of a past events and it is probable that an outflow
of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate
can be made of the amount of the obligation.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the
provision due to the passage of time is recognized as a
finance cost.

Contingent liability is disclosed in the case of;

i) a present obligation arising from past events, when
it is not probable that an outflow of resources will
be required to settle obligation;

ii) a present obligation arising from past events,
when no reliable estimate is possible.

Contingent assets are neither recognized nor disclosed.
However, when realization of income is virtually certain,
related asset is recognized.

Provisions, contingent liabilities and contingent assets
are reviewed at each balance sheet date and adjusted
where necessary to reflect the current best estimate of
obligation or asset.

l) Financial instruments

A financial instrument is a contract that gives rise to
a financial asset for one entity and a financial liability
or equity instrument for another entity. Financial
assets and financial liabilities are recognized when the
Company becomes a party to the contractual provisions
of the instruments.

(a) Financial assets

(i) Initial recognition and measurement

Trade receivables are initially recognized when
they are originated. All other financial assets and
financial liabilities are initially recognized when
the Company becomes a party to the contractual
provisions of the instrument.

All financial assets are recognized initially at
fair value, plus in the case of financial assets
not recorded at fair value through profit or loss
(FVTPL), transaction costs that are attributable to
the acquisition of the financial assets. However,
trade receivables that do not contain a significant
financing component are measured at transaction
price.

(ii) Classification and subsequent measurement

For purposes of subsequent measurement, financial
assets are classified in following categories:

- Financial asset carried at amortized cost

- Financial asset at fair value through other
comprehensive income (FVTOCI)

- Financial asset at fair value through profit or
loss (FVTPL)

Financial assets are not reclassified subsequent to
their initial recognition, except if and in the period
the Company changes its business model for
managing financial assets.

• Financial assets carried at amortized cost

A financial asset is subsequently measured at
amortized cost if it is held within a business
model whose objective is to hold the asset
in order to collect contractual cash flows and
the contractual terms of the financial asset
give rise on specified dates to cash flows that
are solely payments of principal and interest
on the principal amount outstanding.

• Financial assets at fair value through other
comprehensive income

A financial asset is subsequently measured
at fair value through other comprehensive
income if it is held within a business model
whose objective is achieved by both
collecting contractual cash flows and selling
financial assets and the contractual terms
of the financial asset give rise on specified
dates to cash flows that are solely payments
of principal and interest on the principal
amount outstanding.

• Financial assets at fair value through profit
or loss

A financial asset which is not classified in any
of the above categories are subsequently fair
valued through profit or loss.

• Equity investment

Investments representing equity interest in
associates/ subsidiary are carried at cost less
any provision for impairment. Investments
are reviewed for impairment if events or
changes in circumstances indicate that the
carrying amount may not be recoverable.

De-recognition

A financial asset (or, where applicable, a part of a

financial asset) is primarily derecognized (i.e. removed

from the Company's Balance Sheet) when:

(i) The contractual rights to receive cash flows from
the asset has expired, or

(ii) The Company has transferred its contractual rights
to receive cash flows from the financial asset or has
assumed an obligation to pay the received cash
flows in full without material delay to a third party
under a 'pass-through' arrangement; and either (a)
the Company has transferred substantially all the
risks and rewards of the asset, or (b) the Company
has neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.

(b) Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial
recognition, as financial liabilities at fair value
through profit or loss.

All financial liabilities are recognized initially at fair
value and, in the case of loans and borrowings and
payables, net of directly attributable transaction
costs.

The Company's financial liabilities include trade
and other payables, security deposits received etc.

Subsequent measurement

For purposes of subsequent measurement,
financial liabilities are classified in two categories:

- Financial liabilities at amortized cost

- Financial liabilities at fair value through profit
or loss

Loans and borrowings

Borrowings are initially recognized at fair value,
net of transaction costs incurred. After initial
recognition, interest-bearing loans and borrowings
are subsequently measured at amortized cost using
the Effective Interest rate (EIR) method. Income
and Expense are recognized in the statement of
profit or loss when the liabilities are derecognized
as well as through the EIR amortization process.

Amortized cost is calculated by taking into account
any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The
EIR amortization is included as finance costs in
the statement of profit and loss. This category
generally applies to borrowings.

De-recognition

A financial liability is derecognized when the
obligation under the liability is discharged or
cancelled or expires. When an existing financial
liability is replaced by another from the same
lender on substantially different terms or the terms
of an existing liability are substantially modified,
such an exchange or modification is treated as
the de-recognition of the original liability and the
recognition of a new liability. The difference in the
respective carrying amounts is recognized in the
statement of profit and loss.

(c) Offsetting of financial instruments

Financial assets and financial liabilities are offset
and the net amount is reported in the balance
sheet if there is a currently enforceable legal right
to offset the recognized amounts and there is an
intention to settle on a net basis, to realize the
assets and settle the liabilities simultaneously.

m) Impairment of financial assets

The Company applies the expected credit loss model
for recognizing impairment loss on financial assets
measured at amortized cost, debt instruments at
FVTOCI, lease receivables, trade receivables, other
contractual rights to receive cash or other financial

asset, and financial guarantees not designated as at
FVTPL.

Expected credit losses are the weighted average
of credit losses with the respective risks of default
occurring as the weights. Credit loss is the difference
between all contractual cash flows that are due to the
Company in accordance with the contract and all the
cash flows that the Company expects to receive (i.e.
all cash shortfalls), discounted at the original effective
interest rate (or credit-adjusted effective interest
rate for purchased or originated credit-impaired
financial assets). The Company estimates cash flows
by considering all contractual terms of the financial
instrument (for example, prepayment, extension, call
and similar options) through the expected life of that
financial instrument.

For trade receivables or any contractual right to
receive cash or another financial asset that result from
transactions that are within the scope of Ind AS 115
Revenue from contracts with customers, the Company
applies simplified approach permitted by Ind AS 109
Financial Instruments, which requires expected life
time losses to be recognized after initial recognition
of receivables. For recognition of impairment loss on
other financial assets and risk exposure, the Company
determines whether there has been a significant increase
in the credit risk since initial recognition. If credit risk
has not increased significantly, twelve months ECL is
used to provide for impairment loss. However, if credit
risk has increased significantly, lifetime ECL is used. If,
in a subsequent period, credit quality of the instrument
improves such that there is no longer a significant
increase in credit risk since initial recognition, then the
entity reverts to recognizing impairment loss allowance
based on twelve-months ECL.

n) Impairment of non-financial assets

Non- financial assets are tested for impairment
whenever events or changes in circumstances indicate
that the carrying amount may not be recoverable. An
impairment loss is recognized for the amount by which
the asset's carrying amount exceeds its recoverable
amount. The recoverable amount is the higher of an
asset's fair value less costs of disposal and value in
use. For the purposes of assessing impairment, assets
are grouped at the lowest levels for which there are
separately identifiable cash inflows which are largely
independent of the cash inflows from other assets or
groups of assets (cash-generating units). Non- financial
assets that suffered impairment are reviewed for
possible reversal of the impairment at the end of each
reporting period.

I f, at the reporting date there is an indication that a
previously assessed impairment loss no longer exists,
the recoverable amount is reassessed and the asset is
reflected at the recoverable amount. Impairment losses
previously recognized are accordingly reversed in the
statement of profit and loss.

o) Fair value measurement

Fair value is the price that would be received to sell
an asset or paid to transfer a liability in an orderly
transaction between market participants at the
measurement date. The fair value measurement is
based on the presumption that the transaction to sell
the asset or transfer the liability takes place either:

(a) In the principal market for the asset or liability, or

(b) In the absence of a principal market, in the most
advantageous market for the asset or liability

All assets and liabilities for which fair value is measured
or disclosed in the standalone financial statements are
categorized within the fair value hierarchy, described
as follows, based on the lowest level input that is
significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active
markets for identical assets or liabilities

Level 2 — Valuation techniques for which the lowest level
input that is significant to the fair value measurement is
directly or indirectly observable

Level 3 — Valuation techniques for which the lowest level
input that is significant to the fair value measurement is
unobservable

For assets and liabilities that are recognized in the
standalone financial statements on a recurring basis,
the Company determines whether transfers have
occurred between levels in the hierarchy by re-assessing
categorization (based on the lowest level input that is
significant to the fair value measurement as a whole)
at the end of each reporting period. The Company
uses valuation techniques that are appropriate in
the circumstances and for which sufficient data are
available to measure fair value, maximizing the use of
relevant observable inputs and minimizing the use of
unobservable inputs.

p) Taxes on income

Current income tax

Current income tax assets and liabilities are measured
at the amount expected to be recovered from or paid to

the taxation authorities. The tax rates and tax laws used
to compute the amount are those that are enacted or
substantively enacted, at the reporting date.

Current income tax relating to items recognized outside
profit or loss is recognized outside profit or loss (either
in other comprehensive income (OCI) or in equity).
Current tax items are recognized in correlation to the
underlying transaction either in OCI or directly in equity.
Management periodically evaluates positions taken
in the tax returns with respect to situations in which
applicable tax regulations are subject to interpretation
and establishes provisions where appropriate.

Current tax assets are offset against current tax liabilities
if, and only if, a legally enforceable right exists to set off
the recognized amounts and there is an intention either
to settle on a net basis, or to realize the asset and settle
the liability simultaneously.

Deferred tax

Deferred tax assets and liabilities are measured at the
tax rates that are expected to apply in the year when
the asset is realized or the liability is settled, based
on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date.

Deferred tax assets are recognized for all deductible
temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are
recognized to the extent that it is probable that taxable
profit will be available against which the deductible
temporary differences, and the carry forward of unused
tax credits and unused tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed
at each balance sheet date and is adjusted to the extent
that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the asset to
be recovered.

Deferred tax assets and deferred tax liabilities are offset
if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred
taxes relate to the same taxable entity and the same
taxation authority.

Deferred tax relating to items recognized outside profit
or loss is recognized outside profit or loss (either in
other comprehensive income or in equity). Deferred tax
items are recognized in correlation to the underlying
transaction either in OCI or directly in equity.

q) 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 consist of cash balance on hand,
cash balance at banks 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.

r) Earnings per share (EPS)

In determining earnings per share, the Company
considers the net profit after tax and includes the post
tax effect of any extra ordinary items.

- Basic earning per share is calculated by dividing
the net profit or loss for the year attributable to
equity shareholders by the weighted average
number of equity shares outstanding during the
year.

- For the purpose of calculating Diluted Earning per
share, the number of shares comprises of weighted
average shares considered for deriving basic
earning per share and also the weighted average
number of equity share which could have been
issued on the conversion of all dilutive potential
equity shares. Dilutive potential equity shares are
deemed converted as of the beginning of the
period, unless they have been issued at a later

date. A transaction is considered to be antidilutive
if its effect is to increase the amount of EPS, either
by lowering the share count or increasing the
earnings.

The Company has created an Employee Benefit Trust
for providing share-based payment to its employees.
The Company uses the Trust as a vehicle for distributing
shares to employees under the employee remuneration
schemes. The Trust buys shares of the Company
from the market, for giving shares to employees. The
Company treats Trust as its extension and shared held
by the Trust are treated as treasury shares.

Own equity instruments that are reacquired (treasury
shares) are recognised at cost and deducted from
Equity. No gain or loss is recognised in profit and
loss on the purchase, sale, issue or cancellation of the
Company's own equity instruments. Any difference
between the carrying amount and the consideration, if
reissued, is recognised in capital reserve. Share options
exercised during the reporting year are satisfied with
treasury shares.

s) Segment reporting

The Company has the policy of reporting the segments
in a manner consistent with the internal reporting
provided to the chief operating decision maker. The
Chief Operating Decision maker is considered to make
strategic decisions and is responsible for allocating
resources and assessing performance of the operating
segments.

(1) Impairment testing for Investment in Norlanka Manufacturing India Private Limited

Investment is tested for impairment whenever events or changes in circumstances indicate that the carrying amount may
not be recoverable.

The recoverable value of the investment in the subsidiary for impairment testing is determined using discounted cash
flow approach as at March 31, 2026 which involves significant judgement and estimates. The discount rate applied to the
cash flow projections is 23.00% and cash flows beyond the five-year period were extrapolated using a terminal growth
rate of 6.50%.

As at March 31, 2026, the estimated recoverable amount of the investment exceeded its carrying amount. Reasonable
sensitivities in key assumptions is unlikely to cause the carrying amount to exceed the recoverable amount of the cash
generating unit.

(3) Deemed Investment on account of grant of ESOP

During March 31, 2022, the Company had established share option plans that entitle key managerial personnel and
senior employees of the Group to purchase shares in the Company. The employee stock option plan is designed to
provide incentives to the employees of the Company, its subsidiaries and step down subsidiaries (collectively referred to
as 'the Group') to deliver long-term returns.

The Company has cumulatively granted 17,53,910 stock options (March 31, 2025: 17,53,910 stock options) to key
managerial personnel and senior employees of the Group and has accounted for the same as deemed investment in its
subsidiaries and step down subsidiaries.

b) The Company has not issued any bonus shares or any shares for consideration other than cash during five years
immediately preceding March 31, 2026.

c) Terms/ rights attached to equity shares:

1. The Company has only one class of equity share having a par value of '2/- per share. Each holder of equity shares is
entitled to one vote per share. The Company declares and pays dividends 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.

2. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets
of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number
of equity shares held by the shareholders.

Note : For details, refer 'the Statement of Changes in Equity'

i) Capital reserve was created on account of demerger.

ii) Retained earnings are the accumulated profits earned by the Company till date, less transfer to general reserve, if any,
dividend and other distributions made to the shareholders.

iii) Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with
the provisions of the Act

iv) Other comprehensive income represent the cumulative balances of actuarial gain or loss arising on remeasurements
of defined benefit plan is accumulated and recognised within this component of other comprehensive income. Items
included in actuarial gain or loss reserve will not be reclassified subsequently to statement of profit and loss.

v) This represent the own equity instruments that are reacquired [treasury shares] are recognised at cost and disclosed as
deducted from equity.

vi) The Company has established share based payment plans for certain categories of employees of the Company and its
subsidiaries. (refer note 44 for further details on these plans).

b) In case of loans from bank, the terms are as under: -

(i) Long term loan of ' 3,750.00 (March 31, 2025 -' 4,583.34) taken by the Company from Bajaj Finance Limited, is
guaranteed by lien marked on property located at Plot no. 222, Udyog Vihar, Phase 1, Gurugram - 122022. The tenor
of the loan is 84 months (12 months moratorium) and it carries rate of interest of MCLR 0.9 per annum (March 31,
2025 - MCLR 0.9). The date of maturity is July 5, 2030. Principal repayable in 24 equal quarterly instalments, after
12 months moratorium.

(ii) Bank overdraft limit of ' Nil (March 31, 2025 - ' 350.00) taken by the Company from Axis Bank is guaranteed by lien
marked on the fixed deposit. The loan is repayable on demand and it carries rate of interest of Nil (March 31, 2025
- 9.25% per annum).

(iii) Bank overdraft limit of ' 1,000.00 (March 31, 2025 - ' 1,000.00) taken by the Company from ICICI bank is guaranteed
by lien marked on the fixed deposit. The loan is repayable on demand and it carries rate of interest of MCLR/6M 0.4
per annum (March 31, 2025 -MCLR/6M 0.4 per annum).

(iv) Import loan facility of ' 840.00 (March 31,2025 - ' 840.00) taken by the Company is secured by lien on fixed deposits
with HSBC India. The maximum tenor of loan is 90 days (March 31, 2025: 90 days) and the rate of interest is fixed
based upon the prevalent Bank MCLR/3M T-bill/ and other external benchmark decided by the bank and in line with
RBI regulations of the appropriate tenor.

2) Defined benefit plans

In accordance with Ind AS 19 "Employee benefits", an actuarial valuation on the basis of "Projected unit credit method"
was carried out, through which the Company is able to determine the present value of obligations. "Projected unit
credit method" recognizes each period of service as giving rise to additional unit of employees benefit entitlement and
measures each unit separately to build up the final obligation.

i) Gratuity scheme

The Company has defined benefit gratuity plan. Gratuity is calculated as 15 days salary for every completed year of
service or part thereof in excess of 6 months and is payable on retirement / termination/ resignation. The benefit vests on
completing 5 years of service for regular employees and 1 year of service for contratual employees. The Company makes
provision of such gratuity liability in the books of account on the basis of actuarial valuation as per projected unit credit
method.

a) The following tables summarize the components of net benefit expense recognized in the Statement of Profit and Loss
and amounts recognized in the Balance Sheet for the defined benefit plan (viz. gratuity). These have been provided on
accrual basis, based on year end actuarial valuation.

The New Labour Codes prescribe an uniform definition of the term 'wages', which is also relevant for determination
of post-employment benefits including gratuity to all employees. In accordance with the definition, wages means all
remuneration including basic pay, dearness allowance and retaining allowance but does not include certain specified items
forming part of remuneration and in the event the quantum of those specified items exceed 50% of total remuneration,
such excess is deemed to be considered as wages.

The revised definition of wages has resulted in an increase in gratuity obligation of ' 64.61 in respect of services rendered
in prior periods, and the Company has treated such incremental impact as past service cost and recognised as expense
immediately in the statement of profit and loss in the current year in accordance with Ind AS 19, Employee Benefits.

The Company will continue to monitor finalisation of rules and clarifications from government and would provide
appropriate accounting effect on the basis of such developments as needed.

g) Other transaction

i) During the year ended March 31, 2025, the company has given guarantee to the bank for its various subsidiaries
as security against the facility provided by HSBC bank towards the working capital. The guarantee given by the
company is for the period of 10 years for an amount of USD 1,240.00 equivalent to ' 1,17,592.30 (March 31, 2025 :
1,05,973.50) (Refer note 41).

h) Terms and conditions of transactions and outstanding balances with related parties:

All the transaction with the related parties are made on terms equivalent to those that prevail in arm's length transactions.
Outstanding balances at the year-end are unsecure, interest free, and settlement occurs in cash.Terms and conditions for
outstanding balances at the year-end are as follows;

1) Trade payable- The outstanding balances are unsecured. (refer note 20)

2) Dues to employees and dues to related party- The outstanding balance are unsecured. (refer note 18)

3) Investments- The outstanding balances are unsecured (refer note 7 for further details)

4) Trade receivables- The outstanding balances are unsecured. (refer note 10)

5) Dues from related party- The outstanding balances are unsecured. (refer note 8)

6) Advance to employees- The outstanding balances are unsecured. (refer note 14)

7) Loan - The outstanding balance are unsecured and carries at interest rate of 10.50%. (refer note 13)

8) Corporate guarantee - The outstanding contingent liabilities balance are unsecured. (refer note 41)

i) In respect of figures disclosed above:

(i) the amount of transactions/ balances are without giving effect to the Ind AS adjustments on account of fair valuation/
amortization.

(ii) Remuneration and outstanding balances of KMP does not include long term benefits by way of gratuity and
compensated absences, which are currently not payable and are provided on the basis of actuarial valuation by the
Company.

j) There are no reportable transactions/balances as required under Regulation 34(3) of SEBI (Listing and Other Disclosure
requirements) Regulations, 2015.

Note 34: Capital management

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to
optimize returns to our shareholders. The capital structure of the Company is based on management's judgement of the
appropriate balance of key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital
in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics
of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends
paid to shareholders, return capital to shareholders or issue new shares.

The Company policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor,
creditors and market confidence and to sustain future development and growth of its business. The Company will take
appropriate steps in order to maintain, or if necessary adjust, its capital structure.

i) Valuation technique used to determine fair value:

Investment in Parc design investment limited: The investment (19%) has been valued at fair value based on exit price
as per Ind AS 113, being determined based on a firm commitment by a buyer, secured by an agreement.

Investment in Waterbridge Ventures II (Trust): The investment has been valued at net assets value (NAV) obtained
from the the trust as at the reporting date.

Investment in Fireside Ventures Investment Fund III ("Fund"): The investment has been valued at net assets value
(NAV) obtained from the trust as at the reporting date.

Investment in preference shares of Norlanka Manufacturing India Private Limited: The investment has been
determined by an external independent registered valuer as at the reporting date.

Investment in Royal Datamatics Private Limited: The fair value of the investments at fair value through other
comprehensive income are based on using a valuation technique which incorporates various market observable inputs
including most recent transaction prices. The management believe that the estimated fair value resulting therefrom,
which is recorded in the Standalone Balance Sheet, are reasonable, and that it was the most appropriate value at the end
of the reporting period.

Derivative financial instrument: The Company enters into derivative financial instrument with financial institutions
with high credit ratings. Derivative financial instrument, representing forward currency contracts is measured using
valuation techniques similar to forward and option pricing, using present value calculations. The models incorporate
various market observable inputs including the credit quality of counterparties, foreign exchange spot and forward rates.
The carrying amounts of forward currency contracts are the same as their fair values. As at March 31, 2026 the mark-to-
market value of the derivative asset position is net of a credit valuation adjustment attributable to derivative counterparty
default risk.

Share based payment liability: The fair value of share based payment liability (Cash settled options) is determined using
underlying value of the equity shares of the company.

Guarantee commission payable: The fair value of liability is determined using loss given default approach based on the
derived credit rating of the group.

Note 37: Financial risk management objectives and policies

The Company's principal financial liabilities comprise borrowings, lease liabilities, trade payables, security deposit received,
employees payable, dues to related party, share based payment liability, interest accrued but not due on borrowings,
commission payable on guarantee and unclaimed dividend. The main purpose of these financial liabilities is to finance the
Company's operations and to provide guarantees to support its operations.

The Company's principal financial assets includes investment in subsidiaries, security deposits, dues from related party, trade
receivables, cash and cash equivalents, interest accrued but not due on fixed deposits, interest and other receivables, loans,
guarantee commission receivable, derivative financial instruments and other bank balances.

The Company is exposed to credit risk, liquidity risk and market risk. The Company's senior level personnel oversees the
management of these risks.

A. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk applicable in case of the Company primarily includes interest rate risk, currency risk and equity
price risk.

i) Interest rate risk

I nterest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily
to the Company's interest bearing debt obligations.

i) Trade receivables

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. Customer credit risk is managed by each business unit subject to the
Company's established policy, procedures and control relating to customer credit risk management. Credit quality of a
customer is assessed based on an extensive credit rating. Outstanding customer receivables are regularly monitored.
The Company limits its exposure to credit risk from trade receivables by establishing a appropriate credit period for
customer. Loss rates are based on actual credit loss experience and past trends. The Company creates provision for
doubtful debts on case to case basis.

C. Liquidity risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations
without incurring unacceptable losses. The Company's objective is to, maintain optimum levels of liquidity to meet its
cash and collateral requirements. It maintains adequate sources of financing including loans from banks at an optimized
cost.

ii) Other financials assets

Credit risk related to the financial assets involving cash and cash equivalents, other bank balances, interest accrued on
term deposits, security deposits, loans, dues from related party, interest and other receivables and guarantee commission
receivable. The Company does not anticipate any significant risk of default on these assets. The maximum exposure to
credit risk at the reporting date is the carrying value of each class of financial assets as at March 31, 2026 and March 31,
2025. To reduce this risk, the Company has concentrated as mentioned below:-

For cash and cash equivalents, other bank balances and interest accrued on fixed deposits- Since the Company deals with
only high-rated banks and financial institutions, credit risk in respect of cash and cash equivalents, other bank balances
and bank deposits is evaluated as low.

For security deposits - Credit risk is considered low because the Company is in possession of the underlying asset.

Loans, guarantee commission receivable, interest receivables and due from related party - These balances are from
related party which are the subsidiary companies. Therefore, the credit risk is evaluated as low.

For the financial assets other than trade receivables:

1. The Company on the basis of historical analysis does not have any financial assets where there is a risk of default.

2. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets as
at March 31, 2026 and March 31, 2025.

Note 38 : Segment reporting

As permitted by paragraph 4 of Ind AS-108, 'Operating Segments', if a single financial report contains both consolidated
financial statements and the separate financial statements of the parent, segment information need to be presented only on
the basis of the consolidated financial statements. Thus, disclosures required by Ind AS-108 are provided in the consolidated
financial statements.

(ii) Other commitment:

a) The Company has entered into a Capital commitment agreement where contribution has to be made to
Fireside Ventures Advisory LLP (Investment Manager of Fireside Ventures Investment Fund III (Fund)) and Orbis
trusteeship Services Private Limited (Trustee Company of the Fund) in which the contributor has committed
' 700.00 which will be paid as per the terms of agreement. During the year, 29.20% (March 31, 2025 - 15.00%)
of the amount i.e. ' 204.40 (March 31, 2025 - ' 105.00) has been contributed based on the drawdown notice
received from the fund. Total contribution till March 31, 2026 is ' 519.40 (March 31, 2025 - ' 315.00)

b) The Company has entered into a Capital commitment agreement where contribution has to be made to
Waterbridge Capital Management LLP (Investment Manager of WaterBridge Ventures II Trust (Fund)) and Vistra
ITCL (India) Limited (Trustee Company of the Fund) in which the contributor has committed ' 1000.00 which
will be paid as per the terms of agreement. During the year, 5.00% (March 31, 2025 - Nil) of the amount i.e.
' 50.00 (March 31,2025 - ' Nil) has been contributed based on the drawdown notice received from the fund.
Total contribution till March 31, 2026 is ' 725.00 (March 31, 2025 - ' 675.00)

- the Company has been a filed writ petition before the Hon'ble High Court of Delhi (PDS Multinational Fashions Limited
Vs. Collector of Stamp, Civil Writ Petition being W. P. (C) No. 7509 of 2015) for quashing the orders dated June 19, 2015
and July 9, 2015 passed by the Collector of Stamps and saddled with a liability of ' 148.20 based on the misrepresentation
and misreading of the judgement passed by the Hon'ble High Court of Delhi in Delhi Towers vs. GNCT of Delhi 1(2010)
159 comp. cases 129 (Delhi).

- Pending resolution of the respective proceedings, it is difficult to estimate the timings of cash outflows, if any, in respect
of the above as it is determinable only on receipt of judgement/decisions pending with various forums/authorities. The
Group does not expect the outcome of these proceedings to have a materially adverse effect on its financial position.
The Group does not expect any reimbursements in respect of the above contingent liabilities.

- The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions
are required and disclosed as contingent liabilities where applicable, in its financial statements.

c) The Hon'ble Supreme Court of India has passed a judgement relating to definition of wages under the Provident Fund Act,
1952 on February 28, 2019. However, considering that there are numerous interpretative issues related to the judgement
and in the absence of reliable measurement of the provision for the earlier period, the Company has made provision
for provident fund contribution from the date of order. The Company will evaluate its position and update provision, if
required, after receiving further clarity in this regard.

d) The Company has contingent liabilities related to irrevocable letters of credit amounting to ' 988.11 as at March 31, 2026
(March 31, 2025: ' 762.88).

e) During the year ended March 31, 2025, the company has given guarantee to the bank for its various subsidiaries as
security against the facility provided by HSBC bank towards the working capital. The guarantee given by the company is
for the period of 10 years for an amount of USD 1,240.00 equivalent to ' 1,17,592.30 (March 31, 2025 : 1,05,973.50). Below
mentioned are step-down subsidiaries wise bifurcation:-

Expected dividend yields are based on the annualised approved dividend rate and the market price of Holding Company's
common stock at the time of grant. No assumption for a future dividend rate change is included unless there is an
approved plan to change the dividend in the near term.

The fair value per share of ESOP is determined based on the closing price of holding Company's share on the date of
grant.

B. Cash Settled Share based payment (Phantom Stock Units )

i) Brief description of the share based payment arrangement

On October 22, 2021 the Company established the PDS Multinational Fashions Limited - Phantom Stock Units Plan 2021
('Phantom stock plan'), which entities few senior employees of the Group to a cash payment on exercise. During the year
ended March 31, 2026 the Company has granted 5,32,665 ('Phantom Stock Units/ PSU') (March 31, 2025 - Nil). These
PSU's carry a vesting period of up to 4 years and an exercise period of 4 years from the date of vesting.

Expected volatility during the expected term of the options is based on historical volatility of the observed market prices
of the Company's publicly traded equity shares during 5 years before the date of grant. The Company believes that such
measure of volatility is currently the best available indicator of the expected volatility used in these estimates.

The expected life of the ESOP is estimated based on the vesting term and contractual term of the ESOP, as well as
expected exercise behaviour of the employee who receives the ESOP.

Risk-free interest rates are determined using the implied yield currently available for India government issues with a
remaining term equal to the expected life of the options.

Expected volatility during the expected term of the options is based on historical volatility of the observed market prices
of the Company's publicly traded equity shares during 5 years before the date of Measurement. The Company believes
that such measure of volatility is currently the best available indicator of the expected volatility used in these estimates.

The expected life of the PSU is estimated based on the vesting term and contractual term of the ESOP, as well as expected
exercise behaviour of the employee who receives the PSU.

Risk-free interest rates are determined using the implied yield currently available for India government issues with a
remaining term equal to the expected life of the options.

Note 46: Additional information, as required under Schedule III to the Companies Act, 2013

(a) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

(b) The Company does not have any transactions with companies struck off.

(c) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or
both during the current or previous year.

(d) The Company has not been declared as wilful defaulter by any bank or financial institution or government or any
government authority.

(e) The Company have not traded or invested in crypto currency or virtual currency during the financial year.

(f) The Company does not have 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, survey or any
other relevant provisions of the Income Tax Act, 1961.

(g) The Company has complied with the number of layers prescribed under the Companies Act, 2013.

(h) 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 person(s) or entity(ies), including foreign entities ("Intermediaries")
with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party
identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any
party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in
other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.

Note 47: Restatement:

During the year ended March 31, 2026, in order to Align with requirement of Ind "AS 19 — Employee Benefits", necessary
restatements have been made in the comparative financial information to recognize the employee performance related liability
and corresponding expense in the period in which the employees rendered the related services and the Company derived
economic benefits from those services, i.e. accounted for on an accrual basis. Pursuant to this adjustment, the Company has
also recorded consequential adjustments to revenue and taxes.

The consequent adjustments made to the comparative financial information are not considered material to these standalone
financial statements.

Note 48: Audit trail

The Ministry of Corporate Affairs (MCA) has prescribed a requirement for companies under the proviso to Rule 3(1) of the
Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which
uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of
recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along
with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company uses an accounting software for maintaining its books of account. During the year ended March 31, 2026, the
Company had not enabled the feature of recording audit trail (edit log) at the database level for the said accounting software
to log any direct data changes as it would impact database performance significantly. Audit trail (edit log) is enabled at the
application level as part of standard framework and the Company's users have access to perform transactions only from the
application level.

Additionally, the audit trail has been preserved by the Company as per the statutory requirements for record retention where
such feature was enabled.

Note 49: The Company has established a comprehensive system of maintenance of information and documents as required
by the transfer pricing legislation under sections 92-92F of the Income Tax Act 1961. Since the law requires existence of such
information and documentation to be contemporaneous in nature, the Company regularly updates the documentation for
the International transactions entered into with the associated enterprises during the period as required under law. The
Management is of the opinion that its international transactions are at arm's length so that the aforesaid legislation will not
have any impact on the standalone financial statements, particularly on the amount of tax expense and that of provision for
taxation.

Note 50: Prior year amounts have been regrouped / reclassified wherever necessary, to conform to the presentation in the
current year, which are not material.