2.15 Accounting of provisions, contingent liabilities and contingent assets

Provisions are recognized, when there is a present legal or constructive obligation as a result of past
events, where it is probable that there will be outflow of resources to settle the obligation and when
a reliable estimate of the amount of the obligation can be made. Where a provision is measured
using the cash flows estimated to settle the present obligation, its carrying amount is the present
value of those cash flows. Where the effect is material, the provision is discounted to net present
value using an appropriate current market-based pre-tax discount rate and the unwinding of the
discount is included in finance costs.

Contingent liabilities are recognized only when there is a possible obligation arising from past events,
due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the
control of the Company, or where any present obligation cannot be measured in terms of future outflow
of resources, or where a reliable estimate of the obligation cannot be made. Obligations are 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.

2.16 Earnings per share (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.

27 Significant accounting judgements, estimates and assumptions

The preparation of the Company's financial statements requires management to make judgements,
estimates and assumptions that affect the reported amounts of revenues, expenses, assets and
liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty
about these assumptions and estimates could result in outcomes that require a material adjustment
to the carrying amount of assets or liabilities affected in future periods.

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 in the financial statements:

Recognition of deferred tax assets

The extent to which deferred tax assets can be recognized is based on an assessment of the probability
that future taxable income will be available against which the deductible temporary differences and
tax loss carry- forwards can be utilized. In addition, significant judgment is required in assessing the
impact of any legal or economic limits or uncertainties in various tax jurisdictions.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the
reporting date, that have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year, are described below. The Company based its
assumptions and estimates on parameters available when the financial statements were prepared.
Existing circumstances and assumptions about future developments, however, may change due to
market changes or circumstances arising that are beyond the control of the Company. Such changes
are reflected in the assumptions when they occur.

Impairment of non- financial assets

In assessing impairment, management estimates the recoverable amount of each asset or cash¬
generating units based on expected future cash flows and uses an interest rate to discount them.
Estimation uncertainty relates to assumptions about future operating results and the determination
of a suitable discount rate.

Inventories

Management estimates the net realizable values of inventories, taking into account the most reliable
evidence available at each reporting date. The future realization of these inventories may be affected
by future technology or other market-driven changes that may reduce future selling prices.

Defined Benefit Obligation (DBO)

Management's estimate of the DBO is based on a number of critical underlying assumptions such as
attrition rate, mortality, discount rate and anticipation of future salary increases. Variation in these
assumptions may significantly impact the DBO amount and the annual defined benefit expenses (as
analyzed in Note 28).

Useful lives of depreciable assets

Management reviews its estimate of the useful lives of depreciable assets at each reporting date,
based on the expected utility of the assets. Uncertainties in these estimates relate to technological
obsolescence that may change the utility of certain assets.

Fair value measurement of financial instruments

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:

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

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

Management uses valuation techniques to determine the fair value of financial instruments
(where active market quotes are not available) and non- financial assets. This involves developing
estimates and assumptions consistent with how market participants would price the instrument.
Management bases its assumptions on observable data as far as possible but this is not always
available. In that case management uses the best information available. Estimated fair values
may vary from the actual prices that would be achieved in an arm's length transaction at the
reporting date.

Current and non-current classification

All assets and liabilities have been classified as current or non-current as per the Company's normal
operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013. Based on the
nature of products and time between the acquisition of assets for processing and their realization
in cash and cash equivalents, the company has ascertained its operating cycle as 12 months for the
purpose of current or noncurrent classification of assets and liabilities.

financial condition, though the outcomes could be material to the Company's operating results for any
particular period, depending, in part, upon the operating results for such period.

31 Operating Segment Reporting

The Company's only Business is Integrated Aqua Culture and related activities and hence there is no
separate reportable segment as per Indian Accounting Standard (IND AS-108) on “Operating Segment”
prescribed in Companies (Indian Accounting Standards) Rules, 2015.

32 Financial risk management objectives and policies

The Company's principal financial liabilities comprise of loans and borrowings, trade and other
payables, and other current liabilities. The main purpose of these financial liabilities is to raise finance
for the Company's operations. The Company has loans and receivables, trade and other receivables,
and cash and short-term deposits that arise 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. The Company's senior
management advises on financial risks and the appropriate financial risk governance framework.

The Board of Directors reviews and agrees policies for managing each of these risks which are
summarized below:

Market risk

Market risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate
because of changes in market prices. Market prices comprise three types of risk: interest rate risk,
currency risk and other price risk, such as equity risk. Financial instruments affected by market risk
include loans and borrowings, deposits, available-for-sale investments.

The sensitivity analyses in the following sections relate to the position as at March 31,2025 and March 31, 2024

The following assumptions have been made in calculating the sensitivity analyses:

The sensitivity of the statement of comprehensive income is the effect of the assumed changes in
interest rates on the net interest income for one year, based on the average rate of borrowings held
during the year ended March 31, 2025, all other variables being held constant. These changes are
reasonably possible based on observation of current market conditions.

Interest rate risk

Interest rate risk is the risk that the fair value of 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 long-term debt obligations with average interest rates.

The calculations are based on a change in the average market interest rate for each period, and the
financial instruments held at each reporting date that are sensitive to changes in interest rates. All
other variables are held constant. If interest rates increase or decrease by 100 basis points with all
other variables being constant, the Company's profit after tax for the year ended March 31, 2025 would
decrease or increase by Rs. Nil. (March 31,2024 : Rs. Nil).

The Company continuously monitors defaults of customers and other counterparties, identified
either individually or by the Company, and incorporate this information into its credit risk controls.
The Company's policy is to transact only with counterparties who are highly creditworthy which are
assessed based on internal due diligence parameters.

In respect of trade receivables, the Company is not exposed to any significant credit risk exposure to any
single counterparty or any group of counterparties having similar characteristics. Trade receivables
consist of a large number of customers in various geographical areas. Based on historical information
about customer default rates management consider the credit quality of trade receivables that are not
past due or impaired to be good.

The credit risk for cash and cash equivalents, fixed deposits and mutual funds are considered
negligible, since the counterparties are reputable banks with high quality external credit ratings.

Other financial assets mainly comprise of tender deposits and security deposits which are given to
customers or other governmental agencies in relation to contracts executed and are assessed by the
Company for credit risk on a continuous basis.

Liquidity risk

The following is an analysis of the Company's contractual undiscounted cash flows payable under
financial liabilities as at March 31, 2025 and March 31,2024.

33 Capital Management

The Company's objectives when managing capital is to safeguard continuity, maintain a strong
credit rating and healthy capital ratios in order to support its business and provide adequate return
to shareholders through continuing growth and maximize the shareholders' value. The Company's
overall strategy remains unchanged from previous year. The Company sets the amount of capital
required on the basis of annual business and long-term operating plans which include capital
and other strategic investments. The funding requirements are met through a mixture of equity,
internal fund generation and borrowed funds. The Company's policy is to use short term and long¬
term borrowings to meet anticipated funding requirements. The Company monitors capital on the
basis of the net debt to equity ratio. The Company is not subject to any externally imposed capital
requirements. Net debt is long term and short-term debts as reduced by cash and cash equivalents
(including restricted cash and cash equivalents) and short-term investments. Equity comprises share
capital and free reserves (total reserves excluding capital reserve). The following table summarizes
the capital of the Company:

Loans availed from banks/financial institutions against current assets:

TThe quarterly returns or statements filed by the Company for working capital limits with such banks
and financial institutions are in agreement with the books of account of the Company

34 Previous year figures

Previous year's figures have been restated, rearranged and regrouped, wherever necessary to enable
comparability of the current year's position of accounts with that of the relative previous year's
position.

35 Approval of Financial Statements

The financial statements were approved for issue by the Board of Directors on 29^th May 2025.

For and on behalf of the Board of Directors

For A.R. KRISHNAN & ASSOCIATES

Chartered Accountants
FRN No: 009805S

B. Anandaramakrishnan S. PRASAD REDDY S. SHARAT REDDY

Partner Managing Director Executive Director

M.No. 209122 (DIN : 00069094) (DIN : 02929724)

Place: Nellore Balasubramanian R Ganesan N

Date: 29^th May 2025 Chief financial officer Company Secretary