d) The Company's investment property comprises property situated at Udyog Vihar, Gurugram, Haryana, India. The Management has determined that the investment property consists of two class of assets - Land and building - based on the nature, characteristics and risks of the property.

e) The fair valuation of the said property is based on current prices in the active market for similar properties. The main input used are quantum, area, location, population, profile of surrounding developments, negotiations, connectivity and accessibility.

f) The fair value of investment property is H7,273.20 (31 March 2023: H5,768.11) and the same has been determined by an

external independent registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.

Fair valuation of investment property is based on the direct comparison approach for land and depreciated replacement cost method for built up structure. The fair value measurement is categorized in Level 3 of fair value hierarchy.

g) As at March 31, 2024 the investment property is pledged to secure the general banking facilities granted to the Bajaj Finance Limited.

Impairment testing for Investment in DBS Lifestyle 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 subsidiary for impairment testing was determined using discounted cash flow approach which involves significant judgement and estimates. The discount rate applied to the cash flow projections is 25.00% and cash flows beyond the five-year period were extrapolated using a growth rate of 5.00%.

As at March 31, 2024, 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 CGU.

(a) During the year, the Company has purchased 74,00,000, 0.01% non-convertible non-cumuLative redeemable preference shares (March 31, 2023: Nil) of NorLanka Manufacturing India Private Limited of H 10 each fully paid up, which will have a tenure of 7 years from the date of allotment.

In line with Ind As 109 ""Financial instruments””, the aforesaid preference shares has been classified as compound financial instruments. Accordingly, the value of the instrument on the day of transaction has been bifurcated into equity and debt component basis the valuation report obtained from an accredited independent valuer

(b) 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, 2023: 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.

# During the year ended March 31, 2024, Company has issued 975,419 equity shares (March 31, 2023 : 694,100) to the employees who have exercised stock option as per employee stock option scheme 2021. Further, the Company has purchased 43,419 equity shares (March 31, 2023: 111,000 equity shares) through the ESOP trust.

The ESOP trust has transfer 9,056 equity shares (March 31, 2023: NIL) from ESOP trust to employees who exercised there option as per stock option scheme 2021.

b) The Company has not issued any bonus shares or any shares for consideration other than cash during five years immediately preceding March 31, 2024.

*Pursuant to the approval of the shareholders at the Annual General Meeting of the Company held on July 29, 2022, each equity share of face value of H 10/- per share has been subdivided into 5 (five) equity shares of face value of H 2/- per share,

c) Terms/ rights attached to equity shares:

1. The Company has only one class of equity share having a par value of H2/- 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 43 for further details on these plans.

Proposed dividend on equity shares is subject to approval by shareholders at the Annual General Meeting and had not been included as a liability in these standalone financial statements. The proposed equity dividend is payable to all holders of fully paid equity shares.

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

(i) Vehicle loan

- Vehicle loan of H 27.00 taken by the Company, from Axis Bank, during the year ended March 31, 2019 was secured against hypothecation of the respective vehicle. The applicable rate of interest is 8.80% per annum (March 31, 2023: 8.80% per annum). The loan was repayable in 60 monthly instalments and has been completely repaid during the current year.

(ii) Long term loan of H 5,000.00 (March 31, 2023 - Nil) 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 9.75% per annum (March 31, 2023 - Nil). The date of first installment is due on October 5, 2024 and the date of maturity is July 5, 2030..

(iii) Short term loan of H 350.00 (March 31, 2023 - H 350.00) taken by the Company is guaranteed by Stand By Documentary Credit (SBDC) documents of its step down subsidiary, Norwest Industries Limited with HSBC Hong Kong. The maximum tenor of term loan is 89 days (March 31, 2023: 120 days) and is fixed based upon the prevalent bank MCLR/3M T-bill/ and other external benchmark decided by the bank and in line with RBI guidelines of the appropriate tenor (March 31, 2023 - 10.25% per annum).

(iv) Bank overdraft limit of H 350.00 (March 31, 2023 - H 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 9.25% per annum (March 31, 2023 - 9.25% per annum).

(v) Import loan facility of H 2,000.00 (March 31, 2023 - H 2,000.00) taken by the Company is guaranteed by Stand By Documentary Credit (SBDC) documents of its step down subsidiary, Norwest Industries Limited with HSBC Hong Kong. The maximum tenor of term loan is 180 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 guidelines of the appropriate tenor.

a) Trade payables are non-interest bearing and are normally settled on 60-day terms, except for Micro and Small Enterprises (if any) which are settled within 45 days.

b) Trade payables due to related parties as at March 31, 2024 amounts to H 12,196.31 (March 31, 2023: H 1,711.07). (refer note 32)

c) As per Schedule III of the Companies Act, 2013 and notification number GSR 719 (E) dated November 16, 2007 and as certified by the management, the amount due to Micro and Small Enterprises as defined in Micro, Small and Medium Enterprises Development Act, 2006 is as under.

d) Disclosure of payable to vendors as defined under the Micro, Small and Medium Enterprises Development Act, 2006 is based on the information available with the Company regarding the status of registration of such vendors under the said Act and as per the intimation received from them on requests made by the Company.

Note 29 : Earnings per share (EPS)

Earning per share (EPS) is determined based on the net profit attributable to the shareholder before other comprehensive Income. Basic earnings per share is computed using the weighted average number of equity shares outstanding during the year whereas diluted earnings per share is computed using the weighted average number of common and dilutive equivalent shares except for the case where the result becomes anti- dilutive.

*During the year the Company has received the dividend of H 7,143.62 (March 31, 2023 H 6,615.74) from its subsidiaries, which the Company has set aside for the purpose of distributions of dividend to the shareholders of the company. Accordingly, the Company is eligible for the deduction as prescribed under Section 80M of The Income Tax Act, 1961.

The Company does not have any transactions that were surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961) which have not been previously recorded in the books of accounts.

Note 31 : Employee benefit plans 1) Defined contribution plans

The Company makes contribution towards Employees Provident Fund and Employee's State Insurance scheme. Under the rules of these schemes, the Company is required to contribute a specified percentage of payroll costs. The Company during the year recognized the following amounts in the Statement of Profit and Loss under Company's contribution to defined contribution plans.

The contribution payable to these schemes by the Company are at the rates specified in the rules of the schemes.

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 by the employee. 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.

g) Other transaction

The Company has taken an secured loan from bank guaranteed by stand by documentory credit limit of its step down subsidiary namely Norwest Industries Limited - Hong Kong with HSBC Bank.

h) Terms and conditions of transactions with related parties: All the transaction with the related parties are made on terms equivalent to those that prevail in arm's length transactions.

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 33: 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.

Note 35 : Fair value hierarchy

AH financial instruments for which fair value is recognized or disclosed 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) prices in active markets for identical assets or liabilities.

Level 2: Valuation techniques for which the lowest level input that has a significant effect on the fair value measurement are observable, either directly or indirectly.

Level 3: Valuation techniques for which the lowest level input which has a significant effect on the fair value measurement is not based on observable market data.

There have been no transfer between level 1, level 2 and level 3 category during the year ended March 31, 2024 and March 31, 2023. 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 NAV obtained from the the fund 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.

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.

Note 36: Financial risk management objectives and policies

The Company's principal financial liabilities comprise borrowings, lease liabilities, trade and other payables, security deposit received, interest accrued, employees payable, dues to related party, share based payment liability, interest accrued but not due on borrowings 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 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 and currency risk.

i) Interest rate risk

Interest 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

B. Credit risk

Credit risk is the risk that counterparty will default on its contractual obligations resulting in finance loss to the Company. The Company continuously monitors defaults of customers and other counterparties and incorporate this information into its credit risk control. The Company also uses expected credit loss model to assess the impairment loss in trade receivables and makes an allowance of doubtful trade receivables using this model.

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. Based on the historical data, loss on collection of receivable is not material hence no additional provision created.

Receivables that were neither past due nor impaired relate to a number of customers for whom there was no recent history of default.

The total allowance for expected credit loss amounting to Nil (March 31, 2023: Nil) on trade receivables.

ii) Other financials assets

For cash & cash equivalents and other bank balances - 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 very low. For security deposits - Credit risk is considered low because the Company is in possession of the underlying asset.

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.

Note 37 : 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 given in consolidated financial statements.

Note 39: Leases a) As a lessee

Assets taken on lease

The Company has taken leases for office building. The lease rent paid for short term lease is recognized as an expense in Statement of Profit and Loss during the year ended March 31, 2024.

b) As a lessor

The Company has entered into operating leases on its investment property located at Gurugram. All leases include a clause to enable upward revision of the rental charge on an annual basis according to prevailing market conditions. Refer note 5 for rental income and future minimum rentals receivable under non-cancellable operating leases as at March 31, 2024 and March 31, 2023.

Note 40 : Commitments and Contingencies a) Commitments

(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 H 700.00 which will be paid as per the terms of agreement. During the year, 20% (March 31, 2023 - 10%) of the amount i.e. H 140.00 (March 31, 2023- 70.00) has been contributed based on the drawdown notice received from the fund. Total contribution till March 31, 2024 is H 210.00.

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 H 1000.00 which will be paid as per the terms of agreement. During the year, 7.50% (March 31, 2023 - 10%) of the amount i.e. H 75.00 (March 31,2023 - 100) has been contributed based on the drawdown notice received from the fund. Total contribution till March 31, 2024 is H 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 H 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 standalone financial statements. The Company does not expect the outcome of these proceedings to have a materially adverse effect on its financial position. The Company does not expect any reimbursements in respect of the above contingent liabilities.

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.

Note 42: Corporate Social Responsibility The Company has spent an amount of H56.72 (March 31, 2023: H15.16) during the year as required under Section 135 of the Companies Act, 2013 in the areas of education, healthcare, woman empowerment and environment. The amount was spent by way of contribution to Soham Foundation for the purpose of educating children of H56.72

Note 43: Employee Share Based Payments

As at March 31, 2024 the Company has the following share-based payments arrangements :

A. Employee Stock Option Plan 2021 - Plan A and Plan B

i) Brief description of the share based payment arrangement

On April 3, 2021 the company established the PDS Multinational Fashions Limited - Employee Stock Option Plan 2021

- Plan A ('Plan A') which entitles key managerial personnel and senior employees to purchase shares of the Company. On July 27, 2021, the company established the PDS Multinational Fashions Limited Employee stock option plan 2021

- Plan B ('Plan B') through Direct and through Trust route for other KMP and senior employees. The plans are designed to provide incentives to the employees of the company to deliver long-term returns. The Plans are administered by the Nomination and Remuneration committee. During the year ended 31 March 2024, the company has granted 55,000 (31 March 2023 - 4,70,000) equity settled stock options (ESOPs) under these plans. Vesting of the options would be subject to continuous employment with the company and hence the options would vest with passage of time. In addition to this, the Nomination and remuneration committee may also specify certain performance parameters subject to which the options would vest.

Options granted under the plan didn't carry dividend or voting rights. On exercise, each option is convertible into one equity share. The key terms and conditions related to the grants under these plans are as follows; all options are to be settled by the delivery of shares.

The Company has charged H 412.18 (March 31, 2023: 477.99) to the statement of profit and loss in respect of options granted under Plan A and Plan B.

Pursuant to the approval of the shareholders at the Annual General Meeting of the Company held on July 29, 2022, each equity share of face value of H 10/- per share has been subdivided into 5 (five) equity shares of face value of H 2/- per share.

*The number of instruments and the exercise prices are in absolute figures.

iii) Fair Value of the option granted during the year

The Fair value of ESOPs granted under Plan A and Plan B have been measured using the Black-Scholes option-pricing model using the following assumptions, according to their grant dates:

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 Group 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 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 Group 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, 2023 the Group has granted 25,000 Stock Units ('Phantom Stock Units/ PSU') (March 31, 2023 -NIL). These PSU's carry a verting period of up to 4 years and an exercise period of 4 years from the date of vesting.

The Company has not charged any amount to the statement of profit and loss in respect of PSUs granted under the Phantom Stock Plan.

Pursuant to the approval of the shareholders at the Annual General Meeting of the Company held on July 29, 2022, each equity share of face value of H 10/- per share has been subdivided into 5 (five) equity shares of face value of H 2/-per share.

*The number of instruments and the exercise prices are in absolute figures. iii) Fair Value of the option granted during the year

The Fair value of PSUs have been measured using the Black-Scholes option-pricing model using the following assumptions, according to their grant dates:

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 Group 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.

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 Company's share.

(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 has complied with the number of layers prescribed under the Companies Act, 2013.

(f) 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 46: Audit trail

The Ministry of Corporate Affairs (MCA) has prescribed a new 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 the accounting software for maintaining its books of account. During the year ended 31 March 2024, 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..

Note 47: 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 48: No material events have occurred between the balance sheet date to the date of issue of these standalone financial statements that could affect the values stated in the standalone financial statements as at March 31, 2024.

Note 49: Prior year amounts have been regrouped / reclassified wherever necessary, to conform to the presentation in the current year, which are not material.