u) Provisions, Contingent Liabilities and Contingent Assets

Provisions for legal claims are recognised when the entity has a present legal or constructive obligation as a result of past events,
it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.
Provisions are not recognised for future operating losses.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present
obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to
the passage of time is recognised as interest expense.

Contingent liability is disclosed for Possible obligations which will be confirmed only by future events not wholly within the
control of the Company, or Present obligations arising from past events where it is not probable that an outflow of resources will
be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

Contingent assets are neither recognised nor disclosed except when realisation of income is virtually certain, related asset is
disclosed.

v) Changes in accounting policies and disclosures

Effective from 1 April 201 9, the Company has applied Ind AS 116, which replaces the existing lease standard , Ind AS 1 7-Leases
and other interpretations.The Company has applied Ind AS 116 using the modified retrospective approach and has accordingly not
restated the comparative information. The Company at the inception of a contract, assesses whether the contract, is or contains
a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of
time in exchange for consideration. Ind AS 116 introduces a single balance sheet lease accounting model for lessees. A lessee
recognises a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to
make lease payments. The Company has elected not to recognise right-of-use of assets and lease liabilities for short term leases
that have a lease term of 12 months or less and leases of low value assets. The Company recognises the lease payments associated
with these leases as an expense on a straight line basis over the lease term. Lessor accounting remains similar to the accounting
under the previous standard i.e. lessor continues to classify leases as finance or operating lease. This policy is applied to contracts
entered into, or changed, on or after 1 April 2019. For contracts entered into before 1 April 2019, the determination of whether
an arrangement is, or contains a lease is based on the substance of the arrangement at the inception of the lease. The arrangement
is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement
conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.

As a lessee :

The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right of use asset is initially
measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before
the commencement date, plus any initial direct cost incurred and an estimate of cost to dismantle and remove the underlying
asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset
is subsequently depreciated using the straight line method from the commencement date to the earlier of the end of the useful
life or the end of the lease term. The estimated useful life of the right-of-use assets are determined on the same basis as those of
property, plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted
for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments
that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be
readily determined, the Company's incremental borrowing rate. The lease payments shall include fixed payments, variable lease
payments, residual value guarantees, exercise price of a purchase option where the Company is reasonably certain to exercise that
option and payment of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate
the lease. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is
remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments. When the lease
liability is remeasured, the corresponding adjustment is reflected in the right-of-use asset, or the Statement of the Profit and Loss if
the right-of-use asset is already reduced to zero. On the Balance Sheet, right-of-use assets have been included in property, plant
and equipment and lease liabilities have been included in borrowings & other financial liabilities.

"In the comparative period, leases of property, plant and equipment where the Company, as lessee, had substantially all the
risks and rewards of ownership was classified as finance leases. Finance leases are capitalised at the lease's inception at the fair
value of the leased property or, if lower, the present value of the minimum lease payments. The corresponding rental obligations,
net of finance charges, was included in borrowings or other financial liabilities as appropriate. Each lease payment is allocated
between the liability and finance cost. The finance cost was charged to the profit or loss over the lease period so as to produce a
constant periodic rate of interest on the remaining balance of the liability for each period. In comparative period, leases in which
a significant portion of the risks and rewards of ownership was not transferred to the Company as lessee was classified as operating
leases. Payments made under operating leases (net of any incentives received from the lessor) was charged to profit or loss on a
straight-line basis over the period of the lease unless the payment was structured to increase in line with expected general inflation
to compensate for the lessor's expected inflationary cost increases.

As a lessor :

In respect of assets given on operating lease, lease rentals are accounted on accrual basis in accordance with the respective lease
agreements.

w) Significant management judgment in applying accounting policies and estimation uncertainty

The preparation of the Company's financial statements requires management to make judgments, estimates and assumptions that
affect the reported amounts of revenues, expenses, assets and liabilities and the related disclosures.

Significant management judgments :

Recognition of deferred tax assets - The extent to which deferred tax assets can be recognized is based on an assessment of the
probability of the future taxable income against which the deferred tax assets can be utilized.

Evaluation of indicators for impairment of assets - The evaluation of applicability of indicators of impairment of assets requires
assessment of several external and internal factors which could result in deterioration of recoverable amount of the assets.

Classification of leases - The Company enters into leasing arrangements for various assets. The classification of the
leasing arrangement as a finance lease or operating lease is based on an assessment of several factors, including, but not
limited to, transfer of ownership of leased asset at end of lease term, lessee's option to purchase and estimated certainty of
exercise of such option, proportion of lease term to the asset's economic life, proportion of present value of minimum
lease payments to fair value of leased asset and extent of specialized nature of the leased asset.

Impairment of financial assets - At each balance sheet date, based on historical default rates observed over expected life, the
management assesses the expected credit loss on outstanding financial assets.

Provisions - At each balance sheet date basis the management judgment, changes in facts and legal aspects, the Company assesses
the requirement of provisions against the outstanding contingent liabilities. However the actual future outcome may be different
from this judgment.

Significant estimates:

Net realizable value of inventory - The determination of net realisable value of inventory involves estimates based on prevailing
market conditions, current prices and expected date of commencement and completion of the project, the estimated future selling
price, cost to complete projects and selling cost. The Company also involves specialist to perform valuations of inventories,
wherever required.

Useful lives of depreciable/ amortisable assets - Management reviews its estimate of the useful lives of depreciable/ amortisable
assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technical and
economic obsolescence that may change the utility of assets.

Fair value measurements - Management applies valuation techniques to determine the fair value of financial instruments (where
active market quotes are not available). This involves developing estimates and assumptions consistent with how market participants
would price the instrument.

Valuation of investment in subsidiaries, joint ventures and associates - Investments in joint ventures and associates are carried
at cost. At each balance sheet date, the management assesses the indicators of impairment of such investments. This requires
assessment of several external and internal factor including capitalisation rate, key assumption used in discounted cash fl ow
models (such as revenue growth, unit price and discount rates) or sales comparison method which may affect the carrying value of
investments in subsidiaries, joint ventures and associates.

(i) Fair value hierarchy

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using
valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair
value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

There are no transfers between levels 1 and 2 during the year. The company's policy is to recognise transfers in and transfers out of fair value hierarchy levels as at the
end of the reporting period.

The carrying amounts of trade receivables, loans, trade payables and cash and bank balances are considered to be the same as their fair values, due to their short term
nature.

The fair values of non-current borrowings are based on discounted cash flows using current borrowing rate. They are classified as level 3 fair values in the fair value
heirarchy due to the use of unobservable inputs, including own credit risk.

Note : Financial Risk management

The Company's activities expose it to market risk, liquidity risk and credit risk. In order to minimise any adverse effects on the financial performance of the Company, derivative
financial instruments, such as foreign exchange forward contracts are entered to hedge certain foreign currency risk exposures. Derivatives are used exclusively for hedging
purposes and not as trading or speculative instruments

The Company's risk management is carried out by the treasury department under policies approved by the Board of Directors. The board provides written principles for overall
risk managemnt as well as policies covering specific areas such as interest rate risk, credit risk and investment of excess liquidity.

(A) Credit Risk:

Credit risk is the risk that the counterparty will not meet its obligation under a financial instrument or customer contract, leading to financial loss. The credit risk arises
principally from operating activities (primarily trade receivables) and from financing activities, including deposits with banks and other financial instruments.

(i) Credit risk management

Credit risk is managed at the company level. The Company has only one customer i.e., MN Science and technology park private limited which is the subsidiary of the
Company. Hence the credit risk is considered at low credit risk category.

(ii) Provision for expected credit losses

The company provides for expected credit loss based on the following:

(B) Liquidity Risk:

Liquidity risk is the risk that the company will encounter difficulty in meeting its obligations associated with its financial liabilities that are settled by delivering cash or
anoher financial asset. The Company's approach to managing liquidity is to ensure as far as possible that it will ahve sufficient liquidity to meet its liabillities when thay
are due, under both normal and stresses conditions without incurring unacceptable losses or risking damage to the Company's reputation.

The Company has lines of credit from group company and also from banks. The company believes that these facilities are sufficient to meet its funds requirements.
Accordingly, no liquidity risk is perceived.

(ii) Maturities of financial liabilities

The tables below analyse the company's financial liabilities into relevant maturity groupings based on their contractual maturities for:

- all non derivative financial liabilities, and

- net and gross settled derivative financial instruments for which the contractual maturities are essential for an understanding of the timing of the cash flows

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of
discounting is not significant.

Note 20: Capital Management

(a) Risk management

The Company's objective when managing capital are to:

1. Safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

2. Maintain an optimal capital structure to reduce the cost of capital

In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares
or sell assets to reduce debts.

Consistent with others in the industry, the group monitors capital on the basis of the following gearing ratio:

30 Other statutory information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Group 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 Cryp to currency or Virtual Currency during the financial year.

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

(vi) 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

(vii) 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,

(viii) The Company does not have any 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

The accompanying notes form an integral part of the financial statements
As per our attached report of even date

For Karvy & Co., For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration No. : 001757S

Dedeepya Nalluri Prakash Challa K. Shashi Chandra

Partner Chairman and Managing Director Director

Membership No. :225106 (DIN 02257638) (DIN 07258691)

Place : Hyderabad U S S Ramanjaneyulu N A. Shailendra Babu

Date : 23-05-2024 Chief Financial Officer Company Secretary