3.17 Provisions

Provisions are recognized when there is a present
legal or constructive obligation that can be
estimated reliably, as a result of a past event,
when 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. Provisions
are not recognized for future operating losses.

Any reimbursement that the Company can be
virtually certain to collect from a third party with
respect to the obligation is recognized as a separate
asset. However, this asset may not exceed the
amount of the related provisions.

Provisions are reviewed at each reporting date and
adjusted to reflect the current best estimate. If it
is no longer probable that an outflow of economic
resources will be required to settle the obligation,
the provisions are reversed. Where the effect of the
time of money is material, provisions are discounted
using a current pre-tax rate that reflects, where
appropriate, the risks specific to the liability. When
discounting is used, the increase in the provisions
due to the passage of time is recognized as a finance
cost.

Provision for litigation related obligation represents
liabilities that are expected to materialize in respect
of matters in appeal

3.18 Trade Payables:

These amounts represent liabilities for goods
supplied to the Company prior to the end of
financial year which are unpaid. Trade payables are
presented as current liabilities unless payment is not
due within 12 months after the reporting period.
They are recognized initially at their fair value and
subsequently measured at amortized cost using the
effective interest method.

3.19 Dividends

The Company recognises a liability to make cash
distributions to equity holders when the distribution
is authorized 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. Interim
dividends are recorded as a liability on the date of
declaration by the Company's Board of Directors.
The Company is required to pay/distribute dividend
after deducting applicable taxes. The remittance of
dividends outside India is governed by Indian law on
foreign exchange and is also subject to withholding
tax at applicable rates.

3.20 Equity:

Ordinary Shares are classified as Equity share
Capital. Incremental costs directly attributable to
the issue of new ordinary shares or share options
and buy back are recognized as a deduction from
equity, net of tax effects, if any.

3.21 Research and Development:

Revenue expenditure pertaining to research is
charged to the Statement of Profit and Loss.
Development costs of products are also charged to
the Statement of Profit and Loss unless a product's
technical feasibility has been established, in which
case such expenditure is capitalized. Development
expenditure on an individual project are recognized
as an intangible asset when the Company can
demonstrate:

• The technical feasibility of completing the
intangible asset so that the asset will be
available for use or sale

• Its intention to complete and its ability and
intention to use or sell the asset

• How the asset will generate future economic
benefits

• The availability of resources to complete the
asset

• The ability to measure reliability the
expenditure during development

The expenditure to be capitalized includes the cost
of materials and other costs directly attributable
to preparing the asset for its intended use. Other
development expenditures are recognized in the
statement of profit and loss as and when incurred.
As at 31^st March, 2025, none of the development
expenditure amounts has met the aforesaid
recognition criteria.

3.22 Post Employee Benefits:

(a) Defined Contribution Plans:

The Company's contribution to provident
fund and employee state insurance schemes
is charged to the statement of profit and
loss. The Company's contributions towards
Provident Fund are deposited with the Regional
Provident Fund Commissioner under a defined
contribution plan.

(b) Defined Benefit Plans:

The Company has gratuity as defined benefit
plan where the amount that an employee will
receive on retirement is defined by reference to
the employee's length of service and final salary.

The liability recognized in the balance sheet
for defined benefit plans as the present value
of the Defined Benefit Obligation (DBO) at the
reporting date. Management estimates the DBO
annually with the assistance of independent
actuaries as per the requirements of IND AS 19
"Employee Benefits". Actuarial gains and losses
resulting from re-measurement of the liability
are included in other comprehensive income.

The Company has subscribed to a group
gratuity scheme of Life Insurance Corporation
of India (LIC). Under the said policy, the eligible
employees are entitled for gratuity upon their
resignation, retirement or in the event of death
in lump sum after deduction of necessary taxes
upto a maximum limit as per the Gratuity Act,
1972. Liabilities in respect of the Gratuity Plan
are determined by an actuarial valuation, based
upon which the Company makes contributions
to the Gratuity Fund

(C) Compensated Absence Policy:

The employees of Company are entitled to
compensated absences the employees can
carry forward a portion of the un utilised
accumulated compensated absences and
utilize in future periods or encash the leaves
at the time of retirement or termination
of employment. The Company records
an obligation in the period in which the
employee render the services that increases
this entitlement. The Company measures the
expected cost of compensated absences as the
additional amount that the Company expects
to pay as a result of the unused entitlement
that has accumulated at the end of the
reporting period. The Company recognises
accumulated compensated absences based
on actuarial valuation using the projected
unit credit method as on the reporting date
as per the requirements of IND AS "Employee
Benefits". Non accumulating compensated
absences are recognised in the period in which
the absences occur. Actuarial gains and losses
arising from experience adjustments and
changes in actuarial assumptions are recorded
in the statement of profit and loss in the year in
which such gains or losses arise.

(d) Short-Term Employee Benefits

Short -term employee benefits comprise of
employee costs such as salaries, bonus etc. is
recognized on the basis of the amount paid or
payable for the period during which services
are rendered by the employees.

3.23 Earnings per Share:

Basic earnings per share is calculated by dividing the
net profit or loss for the year attributable to equity
shareholders (after deducting attributable taxes)
by the weighted average number of equity shares
outstanding during the year. The weighted average
number of equity shares outstanding during the
year is adjusted for events including a bonus issue.

For the purpose of calculating diluted earnings per
share, the net profit or loss for the year attributable
to equity shareholders and the weighted average
number of shares outstanding during the year are
adjusted for the effects of all dilutive potential
equity shares.

3.24 Contingent Liabilities and Commit¬
ments:

Where it is not probable that an outflow of economic
resources will be required, or the amount cannot be
estimated reliably, the asset or the obligation is not
recognised in the statement of balance sheet and is
disclosed as a contingent liability.

Possible outcomes on obligations, whose existence
will only be confirmed by the occurrence or non¬
occurrence of one or more future events are also
disclosed as contingent liabilities.

Contingent Assets are neither recognized nor
disclosed. However, when realization of Income is
virtually certain, related asset is recognized.

3.25 Exceptional Items

Exceptional items are disclosed separately in the
financial statements where it is necessary to do so
to provide further understanding of the financial
performance of the Company. These are material
items of income or expense that have to be shown
separately due to the significance of their nature or
amount.

3.26 Fair Value Measurement

The Company measures Financial Instruments at fair
value at each Balance Sheet Date.

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 in the principal market for such asset or
liability, or in the absence of a principal market, in
the most advantageous market which is accessible
to the Company.

The fair value of an asset or a liability is measured
using the assumptions that market participants
would use when pricing the asset or liability,
assuming that market participants act in their
economic best interest.

A fair value measurement of a non-financial asset
takes into account a market participant's ability to
generate economic benefits by using the asset in
its highest and best use or by selling it to another
market participant that would use the asset in its
highest and best use.

The Company uses valuation techniques that are
appropriate in the circumstances and for which
sufficient data are available to measure fair value,
maximizing the use of relevant observable inputs
and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is
measured or disclosed in the standalone financial
statements are categorized within the fair value
hierarchy, described as follows, based on the
lowest level input that is significant to the fair value
measurement as a whole:

Level 1 - Quoted (unadjusted market prices) in
active markets for identical assets or liabilities.

Level 2 - Valuation techniques for which the lowest
level input that is significant to the fair value
measurements is directly or indirectly observable.

Level 3 - Valuation techniques for which the lowest
level input that is significant to the fair value
measurement is unobservable

3.27 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 standalone 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.

(i) 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 Company's future taxable
income against which the deferred tax assets
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.

(ii) Recognition of Deferred Tax
Liability on Undistributed Profits:

The extent to which the Company can control
the timing of reversal of deferred tax calculation
on undistributed profits of its subsidiaries
requires judgment.

(iii) Evaluation of Indicators for Impair¬
ment 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.

(iv) Recoverability of Advances/
Receivables:

At each balance sheet date, based on historical
default rates observed over expected life, the
management assesses the expected credit loss
on outstanding receivables and advances.

(v) Useful lives of Depreciable/Amor-
tizable 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 certain software,
customer relationships, IT equipment and
other plant and equipment.

(vi) Defined Benefit Obligation (DBO):

Management's estimate of the DBO is based
on a number of critical underlying assumptions
such as standard rates of inflation, medical cost
trends, 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.

The Company does not face significant liquidity risk with regard to its lease liabilities as the current assets are
sufficient to meet the obligations related to lease liabilities as and when they fall due.

Lease agreement of office premises initially entered for three years in 2019, extended for Four years and
further extended for another two years with revised terms and conditions, it expires by 31^st January, 2028.

5.1 Operating Lease Commitments - Company as Lessor: The Company has given part of its office for sublease and
rental income is very meger and the same was included in other income.

a) No trade or other receivables are due from directors or other officers of the Company either severally or jointly
with any other person.

b) Trade receivables are non-interest bearing.

c) Of the trade receivables Rs. 4,124.21 Lakhs in aggregate (Previous Year Rs. 3,076.47 Lakhs) is due from the
Company's customers individually representing more than 5% of the total trade receivables.

d) The Company has used practical expedient for computing the expected credit loss allowance for doubtful trade
receivables based on a provision matrix. The provision matrix takes into account historical credit loss experience
in calculating expected credit loss.

38 Post Employment Benefits

38.1 Defined Contribution Plans

38.1.1 Employer's Contribution to Provident Fund:

Contributions are made to provident fund in India for employees at the rate of 12% of basic salary as per
regulations. The contributions are made to registered provident fund administered by the government.
The obligation of the company is limited to the amount contributed and it has no further contractual nor
any constructive obligation. The expense recognised during the year towards PF Contribution is Rs.240.96
Lakhs (31^st March, 2024 Rs. 224.48 Lakhs).

38.1.2 Employer's Contribution to State Insurance Scheme:

Contributions are made to State Insurance Scheme in India for employees at the rate of 3.25%. The
Contributions are made to Employees State Insurance Corporation(ESI) to the respective State Governments
of the Company's location. This Corporation is administered by the Government and the obligation of
the company is limited to the amount contributed and it has no further contractual nor any constructive
obligation. The expense recognised during the period towards ESI Contribution is Rs.7.78 Lakhs (31^st March,
2024 - Rs. 8.67 Lakhs).

38.2 Defined Benefit Plans

The Company has a defined benefit gratuity plan governed by Payment of Gratuity Act, 1972. Every
Employee who has completed five years or more of service is entilted to a gratuity on departure at 15
days salary for each completed year of Service. The Scheme is funded through a policy with Life Insurance
Corporation of India (LIC).

The Company has a defined benefit Compensated Absence Plan governed by The Factories Act, 1948. Every
Employee who has worked for a period of 240 days or more during a calendar year shall be allowed during
the subsequent calendar year, leave with wages for a number of days calculated as per Act.

The following table summarise net benefit expenses recognised in the statement of profit and loss, the
status of funding and the amount recognised in the Balance Sheet for both the plans:

(a) Assumptions regarding future mortality experience are set in accordance with the published statistics
by the Life Insurance Corporation of India.

(b) Plan assets does not comprise any of the Company's own financial instruments or any assets used by
the Company. The Company has the plan covered under a policy with the Life Insurance Corporation
of India.

(c) The Significant acturial assumptions for the determination of the defined benefit obligation are the
discount rate, the salary growth rate and the average life expectancy. The calculation of the net
defined benefit liability is sensitive to these assumptions. However, the impact of these changes is
not ascertained to be material by the management.

The above sensitivity analysis is based on a change in an assumption while holding all other assumptions
constant. In practice, this is unlikely to occur and changes in some of the assumptions may be correlated.
When calculating the sensitivity of the defined benefit obligation to significant acturial assumptions, the
same method (Projected Unit Credit Method) has been applied while calculating the defined benefit
liability recognised within the Balance Sheet.

38.2.10 Other Information

(i) Expected rate of return basis

EROA is the discount rate as at previous valuation date as per the accounting standard

(ii) Description of Plan Assets and Reimbursement Conditions

100% of the Plan Asset is entrusted to LIC of India under their Group Gratuity Scheme. The
reimbursement is subject to LIC's Surrender Policy

(iii) Discount Rate

The discount rate has decreased from 6.97% to 6.77% and hence there is an increase in liability
leading to actuarial loss due to change in discount rate.

(iv) Present Value of Defined Benefit Obligation:

Present value of the defined benefit obligation is calculated by using Projected Unit Credit Method
(PUC Method). Under the PUC Method, a "projected accrued benefit" is calculated at the beginning
of the year and again at the end of the year for each benefit that will accrue for all active members of
the Plan. The "Projected accrued benefit" is based on the Plan's accrual formula and upon service as
of the beginning or end of the year, but using a member's final compensation, projected to the age at
which the employee is assumed to leave active service. The Plan Liability is the acturial present value
of the " Projected accrued benefits" as of the begining of the year for active members.

(v) Expected Average remaining service vs. Average remaining future service:

The average remaining service can be arithmatically arrived by deducting current age from normal
retirement age whereas the expected average remaining service is arrived acturially by applying
multiple decrements to the average remaining future service namely mortality and withdrawals. Thus,
the expected average remaining service is always less than the average remaining future service."

(vi) Current and Non Current Liability:

The total of current and non-current liability must be equal with the total of PVO (Present Value
Obligation) at the end of the period plus short term compensated liability if any. It has been classified
in terms of " Schedule III" of the Companies Act, 2013.

(vii) Defined Benefit Liability and Employer Contributions

The Company has purchased insurance policy to provide for payment of gratuity to the employees.
Every year, the insurance company carries out a funding valuation based on the latest employee data
provided by the Company. Any deficit in the assets arising as a result of such valuation is funded by
the Company. The company considers that the contribution rate set at the last valuation date are
sufficient to eliminate the deficit over the agreed period and that regular contributions, which are
based on service costs will not increase significantly.

38.2.11 Risk exposure

Though it is defined benefit plan, the company is exposed to a number of risks, the most significant of
which are detailed below:

(a) Investment / Interest Risk:

The Company is exposed to Investment / Interest risk if the return on the invested fund falls below the
discount rate used to arrive at present value of the benefit.

(b) Longevity Risk:

The Company is not exposed to risk of the employees living longer as the benefit under the scheme
ceases on the employee separating from the employer for any reason.

(c) Risk of Salary Increase

The Company is exposed to higher liability if the future salaries rise more than assumption of salary
escalation.

39 Assets Pledged as Security

For Non Current Borrowings

Term Loans are Secured by First Charge on Property, Plant and Equipment and Second Charge on Current
Assets

Long Term Working Capital Term Loans are secured by Second charge on Property, Plant and Equipment
and Current Assets

42 Fair Value Measurements

42.1 Fair Value Hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped
into three levels of a fair value hierarchy. The three levels are defined based on the observability of significant
inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.

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 observables market data rely as little as possible
on entry specific estimates.

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

Valuation technique used to determine fair value:

Specific Valuation techniques used to value financial instruments include:

- The use of quoted market prices or dealer quotes for similar instruments.

- The fair value of remaining financial instruments is determined using discounted cashflow analysis.
Valuation Process:

The Finance and accounts department of the Company performs the valuation of financial assets and liabilities
required for financial reporting purposes, and report to the Board of Directors. The main Level 3 inputs are
derived using the discounted cash flow analysis, Market Approach, Net Assets Value Method as applicable.

43 Financial Risk Management Objectives and Policies

Financial Risk Management Framework

The Company is exposed primarily to credit risk, liquidity risk and market risk (fluctuations in foreign currency
exchange rates and interest rate), which may adversley impact the fair value of its financial instruments. The
Company assess the unpredictability of the financial environment and seeks to mitigate potential adverse
effects on the financial performance of the Company.

43.1 Credit Risk:

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. Credit risk encompasses of both, the direct risk of default and the risk of
deterioration of creditwrothiness as well as concentration of risks. Credit risk is controlled by analysing credit
limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after
obtaining necessary approvals for cerdit. Financial instruments that are subject to concentration of credit risk
principally consist of trade receivables, cash and cash equivalents, bank deposits and other financial assets.
None of the financial instruments of the Company result in Material Concentration of credit risk, except for
Trade Receivables.

(i) Financial Instruments and Cash Deposits

For banks and financial institutions, only high rated banks/ institutions are accepted. Other Financial
assets (excluding Bank deposits) majorily constitute deposits given to State electricity department for
supply of power, which the company considers to have negligible credit exposure. Counterparty credit
limits are reviewed by the Management on an annual basis, and may be updated throughout the year.
The limits are set to minimise the concentration of risks and therefore mitigate financial loss through
counterparty's potential failure to make payments.

43.2 Liquidity Risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of
liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as
per requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities
and reserve borrowing facilities, by continously monitoring forecast and actual cash flows, and by matching
the maturity profiles of financial assets and liabilities.

43.3 Market Risk:

Market risk is the risk that the fair value or future cash flows of a financial isntrument will fluctuate because of
changes in market price. Market price comprises three types of risk, currency rate risk, interest rate risk and
other price risks such as equity risk. Financial instruments affected by market risk include loans and advances
deposits investments in debt securities mutual funds and other equity funds.

(i) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of change in market ineterest rates. In order to optimize the Company's position with regards
to interest income and interest expenses and to manage the interest rate risk, treasury performs a
comprehensive corporate interest risk management by balancing the proportion of fixed rate and
floating rate financial instruments in its portfolio.

(ii) Foreign Currency Exchange Rate Risk:

Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign
exchange rates. Currency risk arises when transactions are denominated in foreign currencies.

The Company has transactional currency exposures arising from services provided or availed that are
denominated in a currency other than the functional currency. The foreign currencies in which these
transactions are denominated are mainly in US Dollars ($). The Company's trade receivable and trade
payable balances at the end of the reporting period have similar exposures.

(b) Foreign Currency Sensitivity

The following table demonstrate the sensitivity to a reasonably possible change in USD exchange
rate, with all other variables held constant. The change in the fair value of monetary assets and
liabilites including foreign currency derivatives may impact on the company's profit before tax.
The Company's exposure to foreign currency changes for all other currencies is not material.

(iii) Other Price Risk:

Other price risk is the risk that the fair value or future cash flows of the Company's financial instruments
will fluctuate because of changes in market prices (other than those arising from interest rate risk or
currency risk) whether those changes are caused by factors specific to the individual financial instrument
or its issuer or by factors affecting all similar financial instruments traded in the market.

44 Capital Management

For the purpose of the Company's Capital Management, capital includes issued equity capital, share
premium and all other equity reserves attributable to the equity holders. The primary objective of the
Company's capital management is to maximise the shareholders value.

*Customs Duty Issue for imports against advance authorisations

Customs Department has raised demand for an amount of Rs 81.60 lakhs in the year 2000 for non fulfillment
of export obligations by earstwhile Plant Organics Limited which was merged with SMS Phamaceuticals
limited, demerged company vide BIFR order dated 28-08-2008 and vested with the company vide NCLT,
Hyderabad, demerger order dated 15-5-2017. Madras High Court has granted stay in 2011. Considering the
facts of the case and based on the legal advise, liability was not recognised in this regard.

# # IGST Exemption availed on Imports

The Company has received a Show Cause Notice from DRI, Kolkata for an amount of Rs.10.03 Crores IGST
payable on imports saying that the company has violated the pre import condition while availing the IGST
exemption on imports made against advance authorisations. The company has filed writ petition with
Honourable High Court of Telangana and the said High Count has granted stay. Considering the facts of the
case and based on the legal advise, liability was not recognised in this regard.

48 Segment Information

A Basis for segmentation

The operations of the Company are limited to one segment viz. Pharmaceutical products including ingredients
and intermediaries. The products being sold under this segment are of similar nature and comprises of
pharmaceutical products only. The Company's Chief Operating Decision Maker (CODM) reviews the internal
management reports prepared based on aggregation of financial information of the Company on a periodic
basis, for the purpose of allocation of resources and evaluation of performance. Accordingly, management
has identified pharmaceutical segment as the only operating segment for the Company.

51 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. There are no proceedings initiated or pending against
the group as at 31^st March 2025 under prohibition of Benami Property transaction Act, 1988 and rules
made there under (as ammended in 2016).

ii) The Company does not have any transactions with companies struck off as per Section 248 of the
companies Act, 2013 and Section 560 of the Companies Act, 1956.

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) The Company has not defaulted and 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 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 on behalf of the Ultimate Beneficiaries.

viii) The Company has not any such transactions which is not recorded in the books of account 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) Title deeds of all Immovable properties were held in the name of the company.

x) The Company has not entered into any scheme of arrangements which has an accounting impact on
current and previous financial year

xi) The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMP's
and the related parties as defined under the Companies Act, 2013.

xii) The Company has Complied with the relavant provisions of the Foreign Exchange Management Act 1999
and the companies act for the above transactions and the transactions are not violative of the Prevention
of Money Laundering Act 2002.

52 Subsequent Event

No significant subsequent events have been observed till 29th May, 2025 which may require any additional
disclosure or an adjustment to the standalone financial statements.

53 Figures have been rounded off to the nearest rupees in Lakhs.

54 Previous year figures have been regrouped and reclassified wherever considered necessary to confirm to this
year's classifications.

as per our report of even date for and on behalf of the Board of Directors of

for RAMBABU & CO SMS Lifesciences India Limited

Chartered Accountants

^{FRN 002976S} TVVSN MURTHY T V PRAVEEN

Ravikumar Kilarapu N V Managing Director Executive Director

Partner DIN: 00465198 DIN: 08772030

M No. 255088

TRUPTI R MOHANTY N. RAJENDRA PRASAD

Place : Hyderabad Company Secretary Chief Financial Officer

Date : 29-05-2025 M No. F13407 M.No.026567