(o) Provisions

Provisions are recognized when the Company has a present
obligation (legal or constructive) as a result of a past event,
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. When the Company expects some or
all of a provision to be reimbursed, the reimbursement
is recognized as a separate asset, but only when the
reimbursement is virtually certain. The expense relating
to a provision is presented in the standalone statement of
profit and loss, net of any reimbursement.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that
reflects, 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.

Provision for warranty is recognized based on the historical
experience and future estimate claims by the management.
The estimate of such warranty related costs is revised
annually.

(p) Retirement and other employee benefits

Retirement benefit in the form of provident fund and
employee state insurance which are defined contribution
schemes. The Company has no obligation, other than the
contribution payable to the provident fund and employee
state insurance. The Company recognizes contribution
payable to the provident fund and employee state insurance
scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme
for service received before the balance sheet date exceeds
the contribution already paid, the deficit payable to the
scheme is recognized as a liability after deducting the
contribution already paid. If the contribution already paid
exceeds the contribution due for services received before
the balance sheet date, then excess is recognized as an
asset to the extent that the pre-payment will lead to a
reduction in future payment or a cash refund.

The Company operates a defined benefit gratuity plan
in India, which requires contributions to be made to a
separately administered fund i.e. Employee’s Company
Gratuity cum Life Assurance Scheme of Life Insurance
Corporation of India. The cost of providing benefits under
the defined benefit plan is determined using the projected
unit credit method. Re-measurements, comprising of
actuarial gains and losses, the effect of the asset ceiling,
excluding amounts included in net interest on the net
defined benefit liability and the return on plan assets
(excluding amounts included in net interest on the net
defined benefit liability), are recognized immediately
in the standalone balance sheet with a corresponding
debit or credit to retained earnings through OCI in the
period in which they occur. Re-measurements are not
reclassified to the standalone statement of profit or loss in
subsequent periods.

Net interest is calculated by applying the discount rate
to the net defined benefit liability or asset. The Company
recognizes changes in the net defined benefit obligation
which includes service costs comprising current service
costs, past-service costs, gains and losses on curtailments
and non-routine settlements; and net interest expense or
income, as an expense in the standalone statement of
profit and loss.

Accumulated leave, which is expected to be utilized within
the next twelve months, is treated as short-term employee
benefit. The Company measures the expected cost of such
absences as the additional amount that it expects to pay as
a result of the unused entitlement that has accumulated at
the reporting date. The Company treats accumulated leave
expected to be carried forward beyond twelve months, as
long-term employee benefit for measurement purposes.
Such long-term compensated absences are provided for
based on the actuarial valuation using the projected unit
credit method at the year-end. The Company presents the
leave as a current liability in the standalone balance sheet,
to the extent it does not have an unconditional right to
defer its settlement for twelve months after the reporting
date. Where the Company has the unconditional legal
and contractual right to defer the settlement for a period
beyond twelve months, the same is presented as non¬
current liability.

(q) Share-based payment (Employee Stock Appreciation
Plan)

Employees (including senior executives) of the Company
receive remuneration in the form of share-based payments,
whereby employees render services as consideration for
equity instruments (equity-settled transactions).

Equity-settled transactions

The cost of equity-settled transactions is determined by the fair

value at the date when the grant is made using an appropriate

valuation model.

That cost is recognized, together with a corresponding increase
in share-based payment (SBP) reserves in equity, over the
period in which the performance and / or service conditions
are fulfilled in employee benefits expense. The cumulative
expense recognized for equity-settled transactions at each
reporting date until the vesting date reflects the extent to which
the vesting period has expired and the Company’s best estimate
of the number of equity instruments that will ultimately vest.
The standalone statement of profit and loss expense or credit
for a period represents the movement in cumulative expense
recognized as at the beginning and end of that period and is
recognized in employee benefits expense.

Service and non-market performance conditions are not
taken into account when determining the grant date fair value
of awards, but the likelihood of the conditions being met
is assessed as part of the Company’s best estimate of the
number of equity instruments that will ultimately vest. Market
performance conditions are reflected within the grant date fair
value. Any other conditions attached to an award, but without
an associated service requirement, are considered to be non¬
vesting conditions. Non-vesting conditions are reflected in the
fair value of an award and lead to an immediate expensing of
an award unless there are also service and / or performance
conditions.

No expense is recognized for awards that do not ultimately
vest because non-market performance and / or service
conditions have not been met. Where awards include a market
or non-vesting condition, the transactions are treated as vested
irrespective of whether the market or non-vesting condition is
satisfied, provided that all other performance and / or service
conditions are satisfied.

When the terms of an equity-settled award are modified, the
minimum expense recognized is the expense had the terms
had not been modified, if the original terms of the award are
met. An additional expense is recognized for any modification
that increases the total fair value of the share-based payment
transaction, or is otherwise beneficial to the employee as
measured at the date of modification. Where an award is
cancelled by the entity or by the counterparty, any remaining
element of the fair value of the award is expensed immediately
through profit or loss.

The dilutive effect of outstanding options is reflected as
additional share dilution in the computation of diluted earnings
per share.

(r) Financial instruments

A financial instrument is any contract that gives rise to a
financial asset of one entity and a financial liability or
equity instrument of another entity.

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as
subsequently measured at amortized cost, fair value through
other comprehensive income (OCI), and fair value through profit
or loss.

The classification of financial assets at initial recognition
depends on the financial asset’s contractual cash flow
characteristics and the Company’s business model for
managing them. With the exception of trade receivables that
do not contain a significant financing component or for which
the Company has applied the practical expedient, the Company
initially measures a financial asset at its fair value plus, in the
case of a financial asset not at fair value through profit or loss,
transaction costs. Trade receivables that do not contain a
significant financing component or for which the Company has
applied the practical expedient are measured at the transaction
price determined under Ind AS 115.

In order for a financial asset to be classified and measured at
amortized cost or fair value through OCI, it needs to give rise to
cash flows that are ‘solely payments of principal and interest
(SPPI)’ on the principal amount outstanding. This assessment is
referred to as the SPPI test and is performed at an instrument
level.

Subsequent measurement

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

• Financial assets at amortized cost

• Financial assets at fair value through other comprehensive
income (FVTOCI)

• Financial assets, derivatives and equity instruments at fair
value through profit or loss (FVTPL)

A ‘Financial asset’ is measured at the amortized cost, if both the
following conditions are met:

(i) The asset is held within a business model whose objective
is to hold assets for collecting contractual cash flows; and

(ii) Contractual terms of the asset give rise on specified dates
to cash flows that are solely payments of principal and
interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are
subsequently measured at amortized cost using the effective
interest rate (EIR) method. This category generally applies to
trade and other receivables.

A ‘Financial asset’ is classified as FVTOCI, if both of the following
criteria are met:

(i) The objective of the business model is achieved both by
collecting contractual cash flows and selling the financial
assets; and

(ii) The asset’s contractual cash flows represent SPPI.

Financial assets included within the FVTOCI category are
measured initially as well as at each reporting date at fair value.
Fair value movements are recognized in OCI.

FVTPL is a residual category for financial assets. Any financial
assets, which does not meet the criteria for categorization as at
amortized cost or as FVTOCI, is classified as at FVTPL. Financial
assets included within the FVTPL category are measured at fair
value with all changes recognized in the standalone statement
of profit or loss.

All equity investments in scope of Ind AS 109 are measured
at fair value. Equity instruments included within the FVTPL
category are measured at fair value with all changes recognized
in the standalone statement of profit or loss.

Investment in subsidiary

Investments in subsidiary are carried at cost less provision for
impairment, if any.

De-recognition

A financial asset (or, where applicable, a part of a financial asset
or part of a Company of similar financial assets) is primarily
derecognized (i.e. removed from the balance sheet) when:

• The rights to receive cash flows from the asset have expired;
or

• The Company has transferred its rights to receive cash
flows from the 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.

The transferred asset and the associated liability are measured
on a basis that reflects the rights and obligations that the
Company has retained.

Impairment of financial assets

In accordance with Ind AS 109, the Company applies expected
credit loss (ECL) model for measurement and recognition of
impairment loss on the financial assets and credit risk exposure.
The Company follows ‘simplified approach’ for recognition of
impairment loss allowance on trade receivables. The application
of simplified approach does not require the Company to track

changes in credit risk. Rather, it recognises impairment loss
allowance based on lifetime ECLs at each reporting date, right
from its initial recognition.

ECL 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
(‘EIR’). ECL allowance (or reversal) recognized during the period
is considered as income / expense in the standalone statement
of profit and loss. This amount is reflected under the head ‘other
expenses’ in the standalone statement of profit or loss.

The Company uses a provision matrix based on age to determine
impairment loss allowance on portfolio of its trade receivables.

Financial liabilities

Initial recognition and measurement

All financial liabilities are recognized initially at fair value and
in case of borrowings and payables, net of directly attributable
transaction costs. The Company’s financial liabilities include
borrowings, lease liabilities, trade and other payables, and
derivative financial instruments.

Subsequent measurement

The measurement of financial liabilities depends on their
classification. Financial liabilities at fair value through the
standalone statement of profit or loss include financial liabilities
held for trading and financial liabilities designated upon initial
recognition as fair value through profit or loss. Gains or losses
on liabilities held for trading are recognized in the standalone
statement of profit or loss.

Financial liabilities designated upon initial recognition at fair
value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in Ind AS 109 are
satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in
OCI. These gains / loss are not subsequently transferred to profit
or loss. However, the Company may transfer the cumulative
gain or loss within equity. All other changes in fair value of such
liability are recognized in the standalone statement of profit or
loss.

Loans and borrowings

Borrowings is the category most relevant to the Company. After
initial recognition, interest-bearing borrowings are subsequently
measured at amortized cost using the EIR method. Gains and
losses are recognized in standalone 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 standalone statement of profit and loss.

Financial guarantee

Financial guarantee issued by the Company that require a
payment to be made to reimburse the holder for a loss it incurs
because the specified debtor fails to make a payment when due
in accordance with the terms of a debt instrument, is recognized
initially as a liability at fair value, adjusted for transaction costs
that are directly attributable to the issuance of the guarantee.
Subsequently, the liability is measured at the higher of the
amount of loss allowance determined as per impairment
requirements of Ind AS 109 and the amount recognized less
cumulative amortization.

De-recognition

A financial liability is derecognized when the obligation under the
liability is discharged or cancelled or expired. 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 standalone statement of
profit or loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net
amount is reported in the standalone 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
realise the assets and settle the liabilities simultaneously.

(s) Derivative financial instruments and hedge accounting

The Company uses derivative financial instruments, such
as forward currency contracts, interest rate swap to hedge
its foreign currency risks and interest rate risks. Such
derivative financial instruments are initially recognized
at fair value on the date on which a derivative contract is
entered into and are subsequently re-measured at fair
value. Derivatives are carried as financial assets when the
fair value is positive and as financial liabilities when the fair
value is negative. Any gains or losses arising from changes
in the fair value of derivatives are taken directly to the
standalone statement of profit and loss.

Any derivative that is either not designated as a hedge or
is so designated but is ineffective as per Ind AS 109, is

categorized as a financial asset or financial liability, at
fair value through statement of profit and loss. Derivative
designated as hedge and is effective as per Ind AS 109,
the effective portion of changes in the fair value of the
derivative is recognized in other comprehensive income.

(t) Cash and cash equivalents

Cash and cash equivalents in the standalone balance
sheet and cash flow statement 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.

(u) Standalone statement of cash flow

Cash flows are reported using the indirect method,
whereby profit / (loss) for the period is adjusted for the
effects of transactions of a non-cash nature, any deferrals
or accruals of past or future operating cash receipts or
payments and item of income or expenses associated
with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the
Company are segregated.

(v) Cash dividend to equity holders

The Company recognises a liability to make cash
distributions to equity holders when the distribution
is authorised and the distribution is no longer at the
discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved by
the shareholders. A corresponding amount is recognized
directly in equity.

(w) Contingent liabilities

A contingent liability is a possible obligation that arises
from past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the
Company; or a present obligation that arises from past
events but is not recognized because it is not probable that
an outflow of resources embodying economic benefits will
be required to settle the obligation; or the amount of the
obligation cannot be measured with sufficient reliability.
The Company does not recognize a contingent liability
but discloses its existence in the standalone financial
statements.

(x) Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss for the period attributable to equity

shareholders by the weighted average number of equity
shares outstanding during the period.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects
of all dilutive potential equity shares. The effects of anti¬
dilutive potential equity shares are not considered in
calculating dilutive earnings per share.

(y) Segment reporting

In accordance with Ind AS 108, Operating segments,

Note:

a) Based on Net worth, future operational plan, projected cash flows and valuation carried out, the Company
had assessed the carrying value of its investment in its wholly owned subsidiaries as at March 31, 2025 and
March 31,2024.

b) Based on the financial statements of the wholly owned subsidiary namely Luxlite Lamp SARL Luxembourg (Luxlite),
Trifa Lamps Germany, Gmbh (Trifa) and Suprajit USA Inc (consolidated), the subsidiaries have incurred loss in the
current year and in the earlier years. The Company, carried out fair valuation of the as at March 31, 2025 and has
considered the carrying value to be appropriate and accordingly provision for impairment in investment in respect of
Luxlite of '792.30 Million (March 31,2024: '792.30 Million) and Trifa of '54.00 Million (March 31,2024: '54.00 Million)
has been retained. Trifa is under liquidation and will be voluntarily wound up subject to statutory and other necessary
approvals.

c) During the year ended March 31,2025, the Company entered into the Memorandum of Understanding (MOU) with
the Chuo Spring Company Limited, Japan (Chuo). This collaboration includes a 50:50 joint venture (JV) in India to
design, manufacture, and supply transmission cables, and a Technical Assistance agreement, which grants JV access
to Chuo’s unique Japanese Transmission cable technology. With reference to the said JV, the Company incorporated
Suprajit Chuhatsu Control Systems Private Limited on December 27, 2024. The said subsidiary company will
subsequently be converted into a JV with Chuo and did not have commercial operations during the year.

Nature and purpose of reserves

17.1 Capital reserve

The Company recognised capital subsidy received (^4.58 Million) prior to April 1, 2017 and profit on forfeiture of the
Company’s own equity instruments (^0.55 Million) to capital reserve.

17.2 Capital redemption reserve

Capital redemption reserve includes ^293.70 Million arising on redemption of Preference shares of erstwhile Phoenix
Lamps Limited and merger of Phoenix Lamps Limited with the Company, the balances have been brought as such to the
Company. Further, the Company recognised capital redemption reserve of ^1.50 Million and ^1.50 Million on buy back of
equity shares during the year ended March 31,2022 and March 31,2025 respectively.

17.3 Securities premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised in accordance with the
provisions of the Companies Act, 2013.

17.4 General reserve

Under the erstwhile Companies Act, 1956, general reserve was created through an annual transfer of net income at a
specified percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that if a
dividend distribution in a given year is more than 10% of the paid-up capital of the Company for that year, then the total
dividend distribution is less than the total distributable results for that year. Consequent to introduction of the Companies
Act, 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been
withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with the
specific requirements of the Companies Act, 2013.

17.5 Share based payments reserves

Share based payments reserves represents employee share based expense recognised in fair valuation of option expenses
on ESAR.

37. The Company has entered into ‘International transactions’ with ‘Associated Enterprises’ which are subject to Transfer Pricing
regulations in India. The Company is in the process of carrying out transfer pricing study for the year ended March 31,2025
in this regard, to comply with the requirements of the Income Tax Act, 1961. The Management of the Company, is of the
opinion that such transactions with Associated Enterprises are at arm’s length and hence in compliance with the aforesaid
legislation. Consequently, this will not have any impact on the standalone financial statements, particularly on account of tax
expense and that of provision for taxation.

42. (iii) Valuation technique used to determine fair value

a) The Company holds derivative financial instruments such as foreign currency forward and options contracts to mitigate
the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a
bank. These derivative financial instruments are valued based on quoted prices for similar assets and liabilities in active
markets or inputs that are directly or indirectly observable in the marketplace. Hence, the valuation is considered Level
2 by the management.

b) The Company has investment in quoted mutual funds / bonds. The investments other than investment in subsidiaries
are carried at fair value through profit and loss using quoted prices in active markets and accordingly classified within
Level 1 of the valuation hierarchy.

c) The Company has invement in unquoted equity shares under a power purchase agreement with the investee carried at
fair value through profit and loss through inputs that are not based on observable market data an accordingly considered
Level 3 by the management.

(i) The Company is predominantly equity financed as evident from the capital structure table above. Further the Company
has sufficient cash and cash equivalents, current investments and financial assets which are liquid to meet the debts

(ii) In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure
that it meets financial covenants attached to the borrowings that define capital structure requirements. The breaches in
meeting the financial covenants would permit the bank to immediately call borrowings. There have been no breaches in
the financial covenants of any borrowings in the current year.

44. Financial risk management
Objective and policies:

The Company’s principal financial liabilities comprise borrowings, lease liabilities and trade and other payables. The main
purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include
loans, Investment in mutual funds and bonds, trade and other receivables, and cash and cash equivalents that derive directly
from its operations.

The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees
the management of these risks. It is the Company’s policy that no trading in derivatives for speculative purposes may
be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are
summarised below:

i) 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 comprises three types of risk: interest rate risk, currency risk and other price risk, such
as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings,
deposits, fair value through profit and loss investments and derivative financial instruments.

i) a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of the Company’s financial instruments will fluctuate
due to change in the market interest rates. The Company’s exposure to the risk of changes in market interest rate relates
primarily to the Company’s borrowings with floating interest rates.

i) b) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. The Company’s exchange risk arises from its foreign operations and foreign currency revenues
and expenses . The Company has exposures to United States Dollars (‘USD’), Great Britain Pound (‘GBP’), Euro (‘EUR’)
and other currencies. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the
Company’s operating activities.

The Company uses derivative financial instruments, such as foreign exchange forward contracts, to mitigate the risk of
changes in foreign currency exchange rates in respect of its trade receivables.

Sensitivity analysis

Every 1% appreciation or depreciation of the respective foreign currencies compared to functional currency of the
Company would cause the profit before tax in proportion to revenue to increase or decrease respectively by 0.24%
(March 31,2024: 0.11%).

i) c) Commodity price risk

The Company is affected by the price volatility of certain commodities. Its operating activities require the ongoing
purchase and manufacture of automotive cables & lamps and therefore require a continuous supply of certain
commodities. The Company’s Board of Directors has developed and enacted a risk management strategy regarding
commodity price risk and its mitigation.

ii) Credit risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract
leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables)
and from its financing activities including deposits with banks and financial institutions, investments, loan to subsidiary,
foreign exchange transactions and other financial instruments.

a. Trade receivables

Credit risk is managed by each business unit as per the Company’s established policy, procedures and control
relating to customer credit risk management. Outstanding customer receivables are regularly monitored.
The impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a
large number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively.
The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.
The Company does not hold collateral as security.

b. Credit risk exposure

The Company’s credit period generally ranges from 0-365 days. The credit risk exposure of the Company
is as below:

The Company evaluates the concentration of risk with respect to trade receivables as low, since majority of its
customers are reputed automobile companies and are spread across multiple geographies.

c. Financial instruments and cash deposits

Credit risk is limited, as the Company generally invests in deposits with banks with high credit ratings assigned by
international and domestic credit rating agencies. Investment primarily includes investment in liquid mutual fund
units and bonds. Counterparty credit limits are reviewed by the Company periodically and the limits are set to
minimise the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure
to make payments.

iii) Liquidity risk

The Company’s principal sources of liquidity are cash and cash equivalents, investment in mutual funds, bonds and the
cash flow that is generated from operations. The Company believes that the cash and cash equivalents is sufficient to
meet its current requirements. Accordingly no liquidity risk is perceived.

45. Employee Stock Appreciation Rights (‘ESAR’) (Equity Settled):

Employee Stock Appreciation Rights Plan - 2017 (the ESAR 2017 Plan): Effective June 26, 2018, the Company instituted the
ESAR 2017 plan. The Board of directors of the Company and shareholders approved the ESAR 2017 plan at its meeting held
on September 13, 2017 and November 11,2017 respectively. The ESAR 2017 Plan provides for the issue of stock appreciation
rights (SARs) to certain employees of the Company and its subsidiaries.

The ESAR 2017 Plan is administered by the Nomination and Remuneration Committee. As per the ESAR 2017 Plan, the stock
appreciation rights are granted at the exercise price of ?1 /-. The equity shares covered under these stock appreciation rights
vest over five years from the date of grant. The exercise period is five years from the respective date of vesting.

47. Events after the reporting period

Other than as disclosed in the standalone financial statements, there were no events after the balance sheet date which
require disclosure or adjustments to the reported amounts.

48. The Board of Directors of the Company have proposed final dividend of '1.75 per share after the balance sheet date which is
subject to approval by the shareholders at the annual general meeting.

49. Other statutory information

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

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

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period,

(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(v) Except as disclosed in note 10 to the standalone financial statements, the Company has not advanced or loaned or
invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding
that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Group shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(vii) In respect of maintenance of books of accounts and other books and papers in electronic mode, the Company has used
four accounting software viz. SAP S4 HANA, SAP ECC, Oracle (Enterprise resource planning), and Peopleworks (payroll
records) and the Company does not have server physically located in India for the daily backup in respect of SAP S4
HANA and Peopleworks.

Further, audit trail was not enabled for the application and the underlying database in respect of the aforesaid software
used for maintaining books of accounts. Accordingly, management is not in possession of information to determine
whether there were any instances of audit trail feature being tampered with. Additionally, where applicable, the audit
trail for the financial year ended March 31, 2024 in respect of the aforesaid software has not been preserved by the
Company as per the statutory requirements for record retention.

The Company is taking necessary steps to ensure compliance under applicable statute.

(viii) The Company has no 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, search or survey
or any other relevant provisions of the Income Tax Act, 1961).

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

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors of

Chartered Accountants Suprajit Engineering Limited

ICAI Firm registration number: 101049W / E300004

per Navin Agrawal K Ajith Kumar Rai Mohan Srinivasan Nagamangala

Partner Chairman Managing Director &

Membership No.: 056102 DIN: 01160327 Group Chief Executive Officer

DIN: 01916468

Medappa Gowda J
Chief Financial Officer &

Company Secretary

Place : Kolkata Place : Bengaluru

Date : May 28, 2025 Date : May 28, 2025