assessed on an ongoing basis and only those having a largely
probable outflow of resources are provided for.

Contingent assets are not disclosed in the financial
statements unless an inflow of economic benefits is
probable.

3.20 Dividend to equity shareholders

Dividend to equity shareholders is recognised as a liability
and deducted from shareholders' equity, in the period in
which the dividends are approved by the equity
shareholders in thegeneral meeting.

3.21 Earnings pershare (EPS)

Basic EPS is computed by dividing the profit or loss
attributable to the equity shareholders of the Company by
the weighted average number of Ordinary shares
outstanding during the year. Diluted EPS is computed by
adjusting the profit or loss attributable to the ordinary
equity shareholders and the weighted average number of
ordinary equity shares, for the effects of all dilutive potential
Ordinary shares.

3.22 Critical accounting judgements and key sources of
estimation uncertainty

The preparation of the financial statements in conformity
with the Ind AS requires management to make judgements,
estimates and assumptions that affect the application of
accounting policies and the reported amounts of assets,
liabilities and disclosures as at date of the financial
statements and the reported amounts of the revenues and
expenses for the years presented. The estimates and
associated assumptions are based on historical experience
and other factors that are considered to be relevant. Actual
results may differ from these estimates under different
assumptions and conditions.

The estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimate is revised if
the revision affects only that period, or in the period of the
revision and future periods if the revision affects both
current and future periods.

Critical Judgements

In the process of applying the Company's accounting
policies, management has made the following judgements,
which have the most significant effect on the amounts
recognized inthefinancial statements:

Discount rate used to determine the carrying amount of the
Company's defined benefit obligation

In determining the appropriate discount rate for plans
assets, the management considers the interest rates of
government bonds as provided by LIC, in currencies
consistent with the currencies of the post-employment
benefit obligation.

Contingencies and commitments

In the normal course of business, contingent liabilities may
arise from litigations and other claims against the Company.

Where the potential liabilities have a low probability of
crystallizing or are very difficult to quantify reliably, we treat
them as contingent liabilities. Such liabilities are disclosed in
the notes but are not provided for in the financial
statements. Although there can be no assurance regarding
the final outcome of the legal proceedings, we do not expect
them to have a materially adverse impact on our financial
position or profitability.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key
sources of estimation uncertainty at the end of the reporting
period, that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities
within the next financial year are discussed below:

Useful lives of property, plant and equipment

As described above, the Company reviews the estimated
useful lives and residual values of property, plant and
equipment at the end of each reporting period. During the
current financial year, the management determined that
there were no changes to the useful lives and residual values
of the property, plant and equipment.

Allowances fordoubtful debts

The Company makes allowances for doubtful debts based on
an assessment of the recoverability of trade and other
receivables. The identification of doubtful debts requires
use of judgement and estimates. Where the expectation is
different from the original estimate, such difference will
impact the carrying value of the trade and other receivables
and doubtful debts expenses in the period in which such
estimate has been changed.

Allowances for inventories

Management reviews the inventory age listing on a periodic
basis. This review involves comparison of the carrying value
of the aged inventory items with the respective net
realizable value. The purpose is to ascertain whether an
allowance is required to be made in the financial statements
for any obsolete and slow-moving items. Management is
satisfied that adequate allowance for obsolete and slow-
moving inventories has been made in the financial
statements.

Liability for sales return

In making judgment for liability for sales return, the
management considered the detailed criteria for the
recognition of revenue from the sale of goods set out in Ind
AS 115 and in particular, whether the Company had
transferred to the buyer the significant risk and rewards of
ownership of the goods. Following the detailed
quantification of the Company's liability towards sales
return, the management is satisfied that significant risk and
rewards have been transferred and that recognition of the
revenue in the current year is appropriate, in conjunction
with the recognition of an appropriate liability for sales
return.

Accruals for estimated product returns, which are based on
historical experience of actual sales returns and adjustment
on account of current market scenario is considered by
Company to be reliable estimate offuture sales returns.

24.2 Commitments

Estimated amount of contracts remaining to be executed on capital account of property, plant and equipment is ^ 3,900 thousand
as at 31 March 2025 (previous year: nil) against which advances paid aggregate ^ 1,124 thousand as at 31 March 2025 (previous
year: nil).

25. Code on Social Security

The Indian Parliament had approved the Code on Social Security, 2020 ['Code'] in September 2020 relating to employee benefits
i.e., benefits during employment as well as post-employment. The same had also received Presidential Assent. The Ministry of
Labour and Employment had released draft rules for the Code on 13 November 2020, and had invited suggestions from
stakeholders, which are under active consideration by the Ministry.

The Company will assess the impact once the subject rules are notified and will give appropriate impact in its financial statements
in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

26. Gratuity

The Company has a defined benefit gratuity plan with Life Insurance Corporation of India (LIC) in the form of a qualifying insurance
policy. Eligible employees are entitled for gratuity in accordance with the provisions of the Payment of Gratuity Act, 1972, including
any statutory modifications or re-enactment thereof. The fund has formed a trust and it is governed by the Board of Trustees.

The fund is subject to risks such as asset volatality, changes in bond yields and asset liability mismatch. In managing the plan assets,
the Board of Trustee reviews and manages the risks associated with the funded plan and aim to keep annual contributions
relatively stable at a level such that no major plan deficits arises by following effective risk management policies.

Fairvalue hierarchy

There are no reported financial assets and financial liabilities that are measured at fair value or where fair value disclosure is required
as at 31 March 2025 and 31 March 2024.

28. Financialriskmanagement

Risk is inherent in the Company's activities but it is managed through a process of ongoing identification, measurement and
monitoring, subject to risk limits and other controls.

The financial liabilities of the Company comprise borrowings, trade and other payables to finance the operations of the Company. The
financial assets of the Company include loans, trade and other receivables, cash and cash equivalents that directly derive from the
operations. The Company has not entered into any derivative transactions.

The Company's Board of Directors is ultimately responsible for the overall risk management approach and for providing the risk
strategies and principles.

Market risk

The Company's activities expose it primarily to the financial risk of changes in foreign currency exchange rates.

Though the Company has not entered in any forward foreign exchange contract; however, the market risk is managed on the basis of
continuous appraisal of market conditions and management's estimate of long and short-term and changes in fair value.

Foreign currency risk management

The Company is mainly exposed to the currencies: USD, CAD,JPYand Eurocurrency.

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations
arise. Exchange rate exposures are managed in accordance with the market conditions and management's estimates.

The carrying amounts of the Company's foreign currency dominated unhedged monetary assets and monetary liabilities at the end of
the reporting period are as follows:

Favourable impact shown as positive and adverse impact as negative.

The Company has not entered in any forward foreign exchange derivative contracts during the reporting periods.

Equity risk

There is no material equity risk relating to the Company's equity investments. The Company's equity investments majorly comprises of
strategic investments rather than trading purposes.

Interest risk

There is no material interest risk relating to the Company's financial liabilities.

Credit risk management

Credit risk refers to the risk that a counter party will default on its contractual obligation resulting in financial loss to the Company. The
Company uses its own trading records to evaluate the credit worthiness of its customers. The Company's exposures are continuously
monitored and the aggregate value of transactions concluded, are spread amongst approved counter parties.

Liquidity risk management

The ultimate responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate
liquidity risk management framework for the management of the Company's short-term, medium-term and long-term funding and
liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves by continuously
monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

All current financial liabilities are repayable within one year.

Liquidity risk table

The following table detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed
repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest
date on which the Company can be required to pay.

c) Other Disclosures

i) Relationship with Struck off Companies - The Company does not have any transactions or relationships with any companies
struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

ii) There are no transactions that have been surrendered or disclosed as income during the year in the tax assessments under the
IncomeTax Act, 1961 which have not been recorded in the books of account.

iii) There are no charges or satisfaction of charges yet to be registered with Registrar of Companies beyond the statutory period.

36. Subsequent event

The Board of Directors at its meeting held on 30-05-2025 has recommended a dividend of ^ 1.50 (15%) per equity share on the face
value of Rs. 10/- each (previous year: nil), subject to shareholders approval at the annual general meeting.

37. The comparative figures for the previous year have been rearranged wherever required to conform to the revised presentation of
accounts.

38. Notes to financial statements form an integral part of financial statements.

As per our report of even date

For and on behalf of For and on behalf of the Board

Pawan Nanak Bansal & Co.

Chartered Accountants Inder Mohan Sood Davinder Mohan Sood Manish Kumar

Firm Registration No.: 008953C Managing Director & CEO Executive Director & CFO Company Secretary

DIN: 00001758 DIN: 00001756 Membership No.: A16483

Alok Jain
Partner

Membership No.: 510960 New Delhi, 30 May 2025