l) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised if, as a result of a past event, the Company has a present legal or constructive obligation that
can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
If the effect of the time value of money is material, provisions are determined by discounting the expected future cash
flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the
liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance
cost.

Contingent Liability is disclosed after careful evaluation of facts, uncertainties and possibility of reimbursement, unless
the possibility of an outflow of resources embodying economic benefits is remote. Contingent liabilities are not
recognised but are disclosed in notes.

Contingent assets are not disclosed in the Restated Financial Information unless an inflow of economic benefits is
probable.

m) Cash & Cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and demand deposits with an original
maturity of three months or less and highly liquid investments that are readily convertible into known amounts of cash
and which are subject to an insignificant risk of changes in value net of outstanding bank overdrafts as they are considered
an integral part of the Company's cash management.

n) Employee Benefits

Short Term Employee Benefit obligation:

Short-term employee benefits are recognized as an expense at the undiscounted amount in the statement of profit and
loss for the year in which the related services are rendered.

Long Term Employee Benefit obligation:

I. Defined Contribution plans:

Payments to defined contribution retirement benefit schemes are charged to the statement of profit and loss of the year
when the contribution to the respective funds are due. There are no other obligations other than the contribution payable
to the fund.

II. Defined benefit plans

Gratuity expense is recognized on payment basis in the statement of profit and loss.

o) Impairment of Non-financial Assets

The carrying amounts of non-financial assets are reviewed at each balance sheet date if there is any indication of
impairment based on internal/external factors. An asset is treated as impaired when the carrying amount exceeds its
recoverable value.

The recoverable amount is the greater of an asset's or cash generating unit's, net selling price and value in use. In
assessing value in use, the estimated future cash flows are discounted to the present value using a pre-tax discount rate
that reflects current market assessment of the time value of money and risks specific to the assets. An impairment loss
is charged to the statement of profit and loss in the year in which an asset is identified as impaired. After impairment,
depreciation is provided on the revised carrying amount of the asset over its remaining useful life. The impairment loss
recognized in prior accounting periods is reversed by crediting the statement of profit and loss if there has been a change
in the estimate of recoverable amount.

p) Segment reporting

The Company identifies operating segments based on the dominant source, nature of risks and returns and the internal
organisation. The operating segments are the segments for which separate financial information is available and for
which operating profit/loss amounts are evaluated regularly by the Managing Director (who is the Company's chief
operating decision maker) in deciding how to allocate resources and in assessing performance.

q) Dividends Payable

Final dividend on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are
recorded as a liability on the date of declaration by the Company's Board of Directors.

r) Earnings Per Share

Basic earnings per share are calculated by dividing the 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 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 effect of all dilutive potential equity shares.

s) Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the
reporting period, the impact of such events is adjusted within the Restated Financial Information. Otherwise, events after
the balance sheet date of material size or nature are only disclosed.

t) Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet, if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to
realise the assets and settle the liabilities simultaneously.

u) Use Of Critical Estimates, Judgments And Assumptions

The preparation of the Company's Restated Financial Information in conformity with Ind AS 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. Estimates and judgements are
continuously evaluated and are based on historical experience and other factors, including expectations of future events

that are believed to be reasonable. 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. Revisions to
accounting estimates are recognised in the period in which the estimate is revised.

i. Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using appropriate valuation techniques.
The inputs to these models are taken from observable markets where possible, but where this is not feasible, a
degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as
liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair
value of financial instruments.

ii. Taxes

The Company periodically assesses its liabilities and contingencies related to income taxes for all years open to
scrutiny based on latest information available. For matters where it is probable that an adjustment will be made,
the Company records its best estimates of the tax liability in the current tax provision. The Management believes
that they have adequately provided for the probable outcome of these matters. Deferred tax assets are
recognised for unused tax losses to the extent that it is probable that taxable profit will be available against
which the losses can be utilised. Significant management judgement is required to determine the amount of
deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits.

iii. Recognition and measurement of defined benefit obligations

The obligation arising from defined benefit plan is determined on the basis of actuarial assumptions. Key
actuarial assumptions include discount rate, trends in salary escalation and attrition rate. The discount rate is
determined by reference to market yields at the end of the reporting period on government securities.

v) Rounding Of Amounts

All amounts disclosed in the Restated Financial Information and notes have been rounded off to the nearest lakhs, unless
otherwise stated.

w) Recent Accounting Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. For the financial year beginning from 1 April 2024, MCA
has not notified any new standards or amendments to the existing standards applicable to the Company.

Details of Securities and Terms of repayment

1) Kotak Mahindra Bank Ltd : Secured by mortgage of Immovable Property of subsidiary company M/s. Jyoti
Weighing Systems Pvt Ltd situated at 24-25 A, Industrial Area, AB Road, Dewas and is collaterelly secured by
quitable mortgage of Office at 807, 8th floore Shekhar Central, Manoramaganj, AB Road, Indore and Corporate
Guarantee of Divyashakti Foods Pvt Ltd, Chatak Agro India Pvt Ltd and personal guarantee of the directors of the
company. The amount is repayble in monthly equal installments of Rs. 1106181/-, 417112/- and 156052/- each
in 42, 37 and 39 installments and the rate of Interest is 9.60%, 8.95% and 9.10% for all the three loans accounts
respectively.

2) Axis Bank Ltd: Secured by mortgage of immovable property of Directors and the Company, Hypothecation of all
Current Asstes including Stock & Book debts, movable fixed assets both present & future . Furthermore, it is
collaterelly secured by lien mark on fixed depsoits. Payable in monthly installments of Rs. 4.44 Lakhs each in 19
installments. The rate of Interest @ 9.25% p.a.

3) HDFC Bank: Secured by Hypothecation of asstes financed. Payable in 25 monthly installments of Rs. 1.03 Lakhs.
The rate of Interest @ 9.76%.

4) Loans and advances from related parties: There is no Repayment Schedule

4 Terms and conditions of transaction with related parties

The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. No
balances in respect of the related parties has been provided for written off / written back. The Loans and advances in the
nature of loans are in the ordinary course of business and accordingly, not prejudicial to the Company's interest.

Related party relationship is as identified by the management and relied upon by the auditors
33. Segment Reporting

The segments are largely organised and managed separately according to the organisation structure that is designed
based on the nature of products and services and profile of customers. Operating segments are reported in a manner
consistent with the internal reporting provided to the Executive Chairman and Managing Director jointly regarded as the
Chief Operating Decision Maker ("CODM").

The measurement of each segment's revenues, expenses and assets is consistent with the accounting policies that are
used in preparation of the financial statements.

The details of significant accounting policies, including criteria for recognition, the basis of measurement and the basis
on which income and expenditure are recognised, in respect of each class of financial asset, financial liability and equity
instrument are disclosed in Note 1.

A Calculation of fair values

The fair values of the financial assets and liabilities are defined as 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 following
methods and assumptions were used to estimate the fair values of financial instruments:

i The fair value of the long-term borrowings carrying floating-rate of interest is not impacted due to interest rate
changes and will not be significantly different from their carrying amounts as there is no significant change in the under¬
lying credit risk of the Company (since the date of inception of the loans).

ii Cash and cash equivalents, trade receivables, investments in term deposits, other financial assets, trade
payables, and other financial liabilities have fair values that approximate to their carrying amounts due to their short¬
term nature.

c. Fair Value Hierarchy

The Company uses the following hierarchy for determining and/or disclosing the fair value of financial instruments by
valuation techniques:

The categories used are as follows:

• Level 1: It includes financial instruments measured using quoted prices and the mutual funds are measured using
the closing Net Asset Value (NAV).

• Level 2: The fair value of financial instruments that are not traded in an active market 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: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
There were no transfer between Level 1 and Level 2 in the periods.

There has been no change in fair value hierarchy of any financial asset and liability during the periods ended 31.03.2025
and 31.03.2024.

36. Assets and Liabilities relating to Employee Benefits

See accounting policy in Note 1(1.3)(n)

For details about the related employee benefit expenses, see Note 28
A. Defined Contribution Plan:

The Company's defined contribution plans are superannuation, employees state insurance scheme and provident
fund administered by Government since the The expenses recognised during the Period towards defined
contribution plans are as detailed below:

B. Defined Benefit Obligation:

The Company provides for gratuity for employees as per the Payment of Gratuity Act, 1972/ Company policy. Employees
who are in continuous service for a period of 5 years or more are eligible for gratuity. The amount of gratuity payable on
retirement/ termination is the employee's last drawn salary per month computed proportionately as per the Payment of
Gratuity Act, 1972/ Company policy multiplied for the number of years of service.

The Board of Directors has overall responsibility for the establishment and oversight of the company's risk management
framework.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risk limits and controls and to monitor risks. Risk management policies and systems are reviewed regularly
to reflect changes in market conditions and the Company's activities.

The Company has exposure to the following risks arising from financial instruments:

a. Credit risk;

b. Liquidity risk;

c. Market risk; and

d. Interest rate risk

(A) Credit risk

Credit risk arises from the possibility that the value of receivables or other financial assets of the Company may be
impaired because counterparties cannot meet their payment or other performance obligations. To manage credit risks
from trade receivables other than Related Party, the credit managers from Order to Cash department of the Company
regularly analyse customer's receivables, overdue and payment behaviours. Some of these receivables are collateralised
and the same is used according to conditions. These could include advance payments, security deposits, post-dated
cheques etc. Credit limits for this trade receivables are evaluated and set in line with Company's internal guidelines. There
is no significant concentration of default risk.

Credit risks from financial transactions are managed independently by Finance department. For banks and financial
institutions, the Company has policies and operating guidelines in place to ensure that financial instrument transactions
are only entered into with high quality banks and financial institutions. The Company had no other financial instrument
that represents a significant concentration of credit risk.

The Company considers the probability of default upon initial recognition of asset and whether there has been a
significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a
significant increase in credit risk the Company compares the risk of default occurring on asset as at the reporting date
with the risk of default as at the date of initial recognition. It considers reasonable and supportive forwarding-looking
information such as:

i. Actual or expected significant adverse changes in business,

ii. Actual or expected significant changes in the operating results of the counterparty,

iii. Financial or economic conditions that are expected to cause a significant change to the counterparty's ability to
meet its obligations,

iv. Significant changes in the value of the collateral supporting the obligation or in the quality of the third-party
guarantees or credit enhancements.

Financial assets are written off when there is no reasonable expectations of recovery. Where loans or receivables have
been written off, the Company continues engage in enforcement activity to attempt to recover the receivable due. Where
recoveries are made, these are recognized in statement of profit & loss.

Credit risk is managed at Company level.

For other financial assets, the Company assesses and manages credit risk based on internal control and credit
management system. The finance function consists of a separate team who assess and maintain an internal credit
management system. Internal credit control and management is performed on a Company basis for each class of financial
instruments with different characteristics.

The Company considers whether there has been a significant increase in credit risk on an ongoing basis throughout each
reporting period. It considers available reasonable and supportive forward-looking information. Macroeconomic
information (such as regulatory changes, market interest rate or growth rates) are also considered as part of the internal
credit management system.

A default on a financial asset is when the counterparty fails to make payments as per contract. This definition of default
is determined by considering the business environment in which entity operates and other macro-economic factors.

The Company maintains exposure in cash and cash equivalents, deposits with banks, investments, and other financial
assets. Individual risk limits are set for each counter-party based on financial position, credit rating and past experience.
Credit limits and concentration of exposures are actively monitored by the Management. The maximum exposure to
credit risk at the reporting date is the carrying value of each class of financial assets. The Company believes that the
current value of trade receivables reflects the fair value/ recoverable values.

(B) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is
to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both
normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.
Due to the dynamic nature of underlying businesses, the Company maintains flexibility in funding by maintaining
availability under committed credit lines. Management monitors rolling forecast of Company's liquidity position
(comprising the undrawn borrowing facilities below) and cash and cash equivalents on the basis of expected cash flows.
In addition, the Company's liquidity management policy involves projecting cash flows in major currencies and
considering the level of liquid assets necessary to meet these, monitoring balance sheet liquidity ratios against internal
and external regulatory requirements and maintaining debt financing plans.

(i) Maturities of financial liabilities

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

All non-derivative financial liabilities, and 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.

(C) Market Risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices -
will affect the Company's income or the value of its holdings of financial instruments. The objective of market risk
management is to manage and control market risk exposures within acceptable parameters while optimising the
return. The Company is exposed to market risk primarily related to foreign exchange rate risk (currency risk), interest rate
risk and market value of its investments. Thus the Company's exposure to market risk is a function of investing and
borrowing activities and revenue generating and operating activities in foreign currencies.

(i) Foreign Currency Risk

Foreign currency opportunities and risks for the Company result from changes in exchange rates and the related changes
in the value of financial instruments (including receivables and payables) in the functional currency (INR). The Company
is exposed to foreign exchange risk arising from foreign currency transactions primarily with respect to US Dollar(USD).

The USD exchange rate has changed substantially in recent periods and may continue to fluctuate substantially in the
future. The Company has put in place a Financial Risk Management Policy to Identify the most effective and efficient ways
of managing the currency risks.

Sensitivity analysis

The following table details the Company's sensitivity to a 25 basis points increase and decrease in the Rupee against the
relevant foreign currencies is the sensitivity rate used when reporting foreign currency risk internally to key management
personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. This
is mainly attributable to the net exposure outstanding on receivables or payables in the Company at the end of the
reporting period. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and
adjusts their translation at the period end for a 0.25% change in foreign currency rate. This analysis assumes that all other
variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. In cases
where the related foreign exchange fluctuation is capitalised to fixed assets or recognised directly in reserves, the impact
indicated below may affect the Company's income statement over the remaining life of the related fixed assets or the
remaining tenure of the borrowing respectively.

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.

According to the Company, interest rate risk exposure is only for floating rate borrowings. For floating rate liabilities, the
analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding
for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key
management personnel and represents management's assessment of the reasonably possible change in interest rates.

(b) Capital management
(a) Risk management

The Company's objectives 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, reduce debt or sell assets.

For Debt - Equity Ratio, refer Note 41
39. First-time adoption of Ind AS

Refer basis of preparation and presentation in Note 1.2 in relation to the transitition date for the purpose of first time
adoption of Ind AS.

The accounting policies set out in Note 1 have been applied in preparing the Financial Information. Set out below are the
applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to
Ind AS.

A. Optional Exemptions

(i) Deemed Cost

The Company has elected to continue with the carrying value for all of its property, plant and equipment and intangible
assets as recognised in its Indian GAAP financials as deemed cost at the transition date.

(ii) Designation of previously recognised financial instruments

Financial assets and financial liabilities are classified at fair value based on facts and circumstances as at the date of
transition to Ind AS. Financial assets and liabilities are recognised at fair value as at the date of transition to Ind AS and
not from the date of initial recognition.

B. Applicable Mandatory Exceptions

(i) Estimates:

On assessment of the estimates made under the previous GAAP financial statements, the Company has concluded that
there is no necessity to revise the estimates under Ind AS, as there is no objective evidence of an error in those estimates.
However, estimates that were required under Ind AS but not required under Previous GAAP are made by the Company
for the relevant reporting dates reflecting conditions existing as at that date.

(ii) Derecognition of financial assets and financial liabilities

Derecognition of financial assets and liabilities as required by Ind AS 109 is applied prospectively i.e. after the transition
date.

(iii) Classification and Measurement of Financial Assets:

The Company has classified the financial assets in accordance with Ind AS 109 on the basis of facts and circumstances
that exist at the date of transition to Ind

(iv) Impairment of financial assets

The Company has applied exception related to impairment of financial assets given in Ind AS 101. It has used reasonable
and supportable information that is available without under cost or effort to determine the credit risk at the date that
financial assets were initially recognised and compared that to the credit risk.

C. Transition to Ind AS - Reconciliations

The following reconciliations provide a quantification of the effect of significant differences arising from the transition
from previous GAAP to Ind AS in

(i) A. Reconciliation of Balance sheet as at 31.03.2022

B. Reconciliation of Statement of total Comprehensive Income for the year ended 31.03.2022.

(ii) A. Reconciliation of Equity as at 31.03.2022

B. Reconciliation of Total Comprehensive Income as at 31.03.2022

(iii) Adjustments to Statement of Cash Flows

The presentation requirements under Previous GAAP differs from Ind AS and hence Previous GAAP information has been
reCompanyed for ease of reconciliation with Ind AS. The ReCompanyed Previous GAAP information is derived from the
Financial Statements of the Company prepared in accordance

III On account of transition to Ind AS, there is no material adjustment to the Statement of Cash Flows for the years
ended 31st March 2022 and 31st March 2021.

IV Notes to reconciliations:

A. Valuation at Amortized cost for financial Liabilities

The company has valued financial liabilities (Other than Investment in subsidiaries, associates and joint ventures
which are accounted at cost ) at amortized cost, changes on the date of transition, is recognized in opening
reserves and changes thereafter are recognized in statement of profit and loss for the subsequent periods.

B. Others

Other adjustments comprises of loan processing fees / transaction cost. Under Ind AS such expenditure are
considered for calculating effective interest rate. The impact for the periods subsequent to the date of transition
is reflected in the statement of profit and loss.

C. The previous year I-GAAP figures have been reclassified/reCompanyed to make them comparable with Ind AS
presentation.

Note: 40. Disclosure as per Section 186 (4) of the Companies Act, 2013

The Company has given the following Loans, Deposits and Guarantees:

A Guarantee of Rs. 17.83 Cr has been given to Axis Bank for Loans granted by it to M/s. Divya Shakti Foods Private
Limited, a promoters related party.

^ A Guarantee of Rs. 11.00 Cr has been given to Kotak Mahindra Bank for Loans / Bank Guarantees taken by M/s.

Jyoti Weighing Systems Pvt Ltd, Subsidiary of the Company.

^ A Guarantee of Rs. 0.75 Cr has been given to Kotak Mahindra Bank Limited for Cash Credit Limit taken by Jyoti
Weighing Systems Pvt Ltd a Subsidiary of the Company.

A Capital advance of Rs. 9.88 Cr was given to Divyashakti Foods Pvt Ltd a Promoters related party later on before
the signing of Balance Sheet it has been recovered on termination of the contract of construction of ware house.

A Corporate loan of Rs. 6.51 Cr was given to Divyashakti Foods Pvt Ltd a promoters related party. This deposit has
also been taken back before the date of signing of he Balance sheet.

a. Due to induction of long term funds by way of fresh Equity of IPO which was utilised for increase of current assets
and reduction of current liabilities.

b. Due to increase in equity funds of IPO.

c. Due to year end availability of equity funds of IPO.

d. Due to provisioning of freight subsidy the debtors increased to a substantial extent and pilling up of other subsidy
due from government.

e. Due to reduction in current liability by using equity recived through IPO.

f. Due to reciept of IPO proceeds at the fag end of the year which has not contributed the turnover.

g. Due to increase in other income, decrease in raw and other material cost and other expenditures along with
increase in subsidy.

Note: 42. Regrouping of Previous year Figures

The previouse year figures have been re-grouped / re-clasified whereever required to confirm to current year's

classification.

Note: 43. Additional Regulatory Information required by Schedule III to the Companies Act, 2013

i The Company does not have any benami property held in its name. No proceedings have been initiated on or
are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and Rules made thereunder.

ii The Company has not been declared wilful defaulter by any bank or financial institution or other lender or
government or any government authority

iii The Company has complied with the requirement with respect to number of layers as prescribed under section
2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

^iv Utilisation of borrowed funds and share premium

I 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

II 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 Company 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 to or on behalf of the ultimate beneficiaries

v There is no income surrendered or disclosed as income during the year/period in tax assessments under the
Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

^vi The Company has not traded or invested in crypto currency or virtual currency during the year/period.

vii The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar
of Companies beyond the statutory period.

^viii The Company does not have any transactions and balances with companies which are struck off.

Note: 44. Events after the reporting period

The Company has terminated a material Capital Commitment Contract aggregating to Rs. 9.88 Crores awarded to M/s
Divyashakti Foods Private Limited towards the construction of new warehouse since the construction work could not be
commenced within time. All the advances paid have been recovered alongwith 0.3 Crores of penalty in accordance with
the terms of the Contract. This Contract has been subsequently awarded to another Vendor for Rs.10.03 Crores and has
been disclosed under Capital Commitment.

Note: 45.

During the year ended March 31, 2024, the Company has completed its Initial Public Offer (IPO) of 59,40,000 equity
shares of face value Rs 10 each at an issue price of Rs 70 per share (including a share premium of Rs. 60 per share).

The complete public issue comprised of fresh issue of 59,40,000 equity shares aggregating to Rs. 4158.00 lacs.

Pursuant to IPO, the equity shares of the Company were listed on EMERGE platform National Stock Exchange of India
Limited (NSE) for SMEs on March 7, 2025. The total offer expenses are estimated to be Rs. 445.74 lacs (exclusive of
taxes) which has been utilised from Securities Premium Account in accordance with section 52 of the Companies Act,
2013. The utilization of IPO proceeds of Rs 4158.00 lacs is summarized below:

For Mishra Rajiv Kamal & Associates For and on behalf of Board of Directors of

Chartered Accountants BALAJI PHOSPHATES LIMITED

ICAI Firm Registration No.

006752C

Akshaya Kumar Sambharia Mohit Airen Alok Gupta

Partner Director Director

Membership No.: 071628 DIN: 00326470 DIN: 00321894

Place: Indore Place : Indore Place : Indore

Date: July 07, 2025 Date: July 07, 2025 Date: July 07, 2025

Ravindra Kumar Chourishi Deepika Singh

Chief Financial Officer Company Secretary

Place : Indore Place : Indore

Date: July 07, 2025 Date: July 07, 2025