m) Provisions, Contingent liabilities and
Contingent assets:

A provision is recognized when an enterprise has a
present obligation (legal or constructive) as result
of past event and it is probable that an outflow of
embodying economic benefits of resources will be
required to settle a reliably assessable obligation.
Provisions are determined based on best estimate
required to settle each obligation at each balance
sheet date. If the effect of the time value of money is
material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the risks
specific to the liability. When discounting is used, the
increase in the provision due to the passage of time
is recognised as a finance cost.

Provisions for onerous contracts, i.e. contracts
where the expected unavoidable costs of meeting
obligations under a contract exceed the economic
benefits expected to be received, are recognized
when it is probable that an outflow of resources
embodying economic benefits will be required to
settle a present obligation as a result of an obligating
event, based on a reliable estimate of such obligation.

A contingent liability is a possible obligation that
arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of

one or more uncertain future events beyond the
control of the Company or a present obligation
that is not recognized because it is not probable
that an outflow of resources will be required to
settle the obligation. A contingent liability also
arises in extremely rare cases where there is a
liability that cannot be recognized because it
cannot be measured reliably. The Company does
not recognize a contingent liability but discloses its
existence in the financial statements. A contingent
asset is never recognised but only disclosed in the
financial statements.

n) Segment reporting policies:

Identification of segments:

Operating Segments are identified on the basis of
internal reports about components of the group
that are regularly reviewed by the chief operating
decision maker (CODM) in order to allocate resources
to the segments and to assess their performance in
accordance with Ind AS 108, Operating Segments.
Since CODM evaluates Company's performance at
a geographic segment level, operating segment
information is accordingly given at geographic level.

o) Financial Instruments:

Financial assets and liabilities are recognized when
the Company becomes a party to the contractual
provisions of the instrument. Financial assets
and liabilities are initially measured at fair value.
Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial
liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added
to or deducted from the fair value measured on initial
recognition of financial asset or financial liability.

i) Cash & Cash equivalents:

The Company considers all highly liquid financial
instruments, which are readily convertible
into known amounts of cash that are subject
to an insignificant risk of change in value and
having original maturities of three months
or less from the date of purchase, to be cash
equivalents. Cash and cash equivalents consist
of balances with banks which are unrestricted
for withdrawal and usage.

ii) Financial assets at amortized cost:

Financial assets are subsequently measured at
amortized cost if these financial assets are held
within a business whose objective is to hold these
assets in order to collect contractual cash flows and
the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely

payments of principal and interest on the principal
amount outstanding.

iii) Financial assets at fair value through other
comprehensive income:

Financial assets are measured at fair value through
other comprehensive income if these financial
assets are held within a business whose objective
is achieved by both collecting contractual
cash flows and selling financial assets and the
contractual terms of the financial asset give rise
on specified dates to cash flows that are solely
payments of principal and interest on the principal
amount outstanding.

iv) Financial assets at fair value through profit
or loss:

Financial assets are measured at fair value through
profit or loss unless it is measured at amortized
cost or at fair value through other comprehensive
income on initial recognition. The transaction costs
directly attributable to the acquisition of financial
assets and liabilities at fair value through profit or
loss are immediately recognized in statement of
profit and loss.

v) Financial liabilities:

Financial liabilities are subsequently carried
at amortized cost using the effective interest
method, except for contingent consideration
recognized in a business combination which is
subsequently measured at fair value through
profit or loss. For trade and other payables
maturing within one year from the balance
sheet date, the carrying amounts approximate
fair value due to the short maturity of
these instruments.

vi) De-recognition of financial instruments:

The Company derecognizes a financial asset
when the contractual rights to the cash flows
from the financial asset expire or it transfers the
financial asset and the transfer qualifies for de¬
recognition under Ind AS 109. A financial liability
(or a part of a financial liability) is derecognized
when the obligation specified in the contract is
discharged or cancelled or expires.

vii) Fair value of financial instruments:

I n determining the fair value of its financial
instruments, the Company uses following
hierarchy and assumptions that are based on
market conditions and risks existing at each
reporting date.

Fair value hierarchy:

All assets and liabilities for which fair value
is measured or disclosed in the 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 measurement 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

For assets and liabilities that are recognized in
the financial statements on a recurring basis,
the Company determines whether transfers
have occurred between levels in the hierarchy
by re-assessing categorization (based on the
lowest level input that is significant to the fair
value measurement as a whole) at the end of
each reporting period.

viii) Investments in subsidiary:

Investments in subsidiary is carried at cost.

p) Impairment:

i) Financial assets:

The Company assesses at each date of balance
sheet whether a financial asset or a group of
financial assets is impaired. Ind AS 109 requires
expected credit losses to be measured through
a loss allowance. The Company recognises
lifetime expected losses for all contract assets
and / or all trade receivables that do not
constitute a financing transaction. For all other
financial assets, expected credit losses are
measured at an amount equal to the 12-month
expected credit losses or at an amount equal
to the life time expected credit losses if the
credit risk on the financial asset has increased
significantly since initial recognition.

ii) Non-financial assets:

Tangible and Intangible assets: PPE, intangible
assets and investment property with finite life
are evaluated for recoverability whenever there
is any indication that their carrying amounts
may not be recoverable. If any such indication
exists, the recoverable amount (i.e. higher of the
fair value less cost to sell and the value-in-use) is
determined on an individual asset basis unless

the asset does not generate cash flows that
are largely independent of those from other
assets. In such cases, the recoverable amount is
determined for the cash generating unit (CGU)
to which the asset belongs. If the recoverable
amount of an asset (or CGU) is estimated to
be less than its carrying amount, the carrying
amount of the asset (or CGU) is reduced to its
recoverable amount. An impairment loss is
recognised in the statement of profit and loss.

q) Cashflow Statement:

Cash flows are reported using the indirect
method, whereby profit for the period is
adjusted for the effects of transactions of a non¬
cash nature, any deferrals or accruals of past or
future operating cash receipts or payments
and item of income or expenses associated
with investing or financing cash flows. The cash
flows from operating, investing and financing
activities of the Company are segregated. The
Company considers all highly liquid investments
that are readily convertible to known amounts
of cash to be cash equivalents.

2.3 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.

a) 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:

(b) 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.

Defined benefit plans - Gratuity

The cost of the defined benefit gratuity plan and
other post-employment medical benefits and
the present value of the gratuity obligation are
determined using actuarial valuations. An actuarial
valuation involves making various assumptions that
may differ from actual developments in the future.
These include the determination of the discount
rate, future salary increases and mortality rates. Due
to the complexities involved in the valuation and
its long-term nature, a defined benefit obligation is
highly sensitive to changes in these assumptions. All
assumptions are reviewed at each reporting date.

The parameter most subject to change is the discount
rate. In determining the appropriate discount rate for
plans operated in India, the management considers
the interest rates of government bonds

The mortality rate is based on publicly available
mortality tables. Those mortality tables tend to
change only at interval in response to demographic
changes. Future salary increases are based on
expected future inflation rates and expected salary
increase thereon.

37 Business combination of wholly owned subsidiary:

Pursuant to scheme of Arrangement filed between the Company ("Transfee Company") and its wholly owned Subsidiary

Company, ASM Digital Engineering Private Limited ("Transferor Company") in terms of provisions of Section 230 to 233 of the

Act, to merge the business of its wholly owned subsidiary with the Company (hereinafter referred to as "the Scheme") with

appointed date being April 1, 2023 and has been approved by National Company Law Tribunal ('NCLT') in November 2024.

The Scheme has been filed with the Registrar of Companies, Karnataka on 14-12-2024.

In accordance with the provisions of the aforesaid scheme: -

a. The Scheme being a common control business combination, has been accounted for using the pooling of interests
method from the appointed date specified under the Scheme. As per Ind AS 103 - Business Combinations, common
control business combination should be accounted as per the pooling of interests method and the financial information
in the financial statements in respect of prior periods should be restated as if the business combination had occured from
the beginning of the preceeding period in the financial statements, irrespective of the actual date of the combination.
Therefore, the aforesaid accounting from the appointed date.

b. The assets and liabilities of the Transferor Company have been recognized at their existing carrying amounts.

c. No adjustments were made to reflect fair values or to recognize new assets and liabilities.

d. The identity of the reserves of the Transferor Company is preserved and appeared in the financial statements of the
Transferee Company in the same form and manner as they appeared previously.

e. The difference between the value of investments in the Transferor Company and the net assets taken over has been
adjusted in the reserves of the Transferee Company.

38 Financial risk management objectives and policies

The Company's principal financial liabilities comprise of trade and other payables. The main purpose of these financial
liabilities is to finance the Company's operations to support its operations. The Company's principal financial assets include
trade and other receivables, rental and bank deposits and cash and cash equivalents, that derive directly from its operations.
The Company is exposed to credit and liquidity risk. The Company's senior management oversees the management of these
risks and the Board of Director's reviews these activities.

i. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument would fluctuate due to changes
in market prices. Market risk comprises three types of risks: interest rate risk, currency risk and other price risk, such as
equity price risk and commodity risk. Financial instruments affected by market risk include trade payables. The Company
is not exposed to price risk on the financial date.

The sensitivity analysis in the following sections relate to the positions as at March 31, 2025 and March 31, 2024.

The analysis exclude the impact of movements in market variables on: the carrying values of gratuity and other post¬
retirement obligations and provisions.

The following assumption has been made in calculating sensitivity analyses:

The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is
based on the financial assets and financial liabilities held at March 31, 2025 and March 31,2024.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. The operations of the Company are both in India and overseas. Company has been providing
services to overseas customers. Hence, the Company is currently exposed to the currency risk arising from fluctuation
of these foreign currencies and Indian rupee exchange rates.

ii. 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. The Company is exposed to credit risk from its operating activities (primarily trade receivables). At the end of
every financial year, the Company makes an assessment whether any loss allowance has to be provided for using the lifetime
Expected Credit Loss (ECL) method.

iii. Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company
manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities
when due.

The Company is predominantly equity financed which is evident from the capital structure table. Further, the Company has always
been a net cash Company with cash and bank balances along with current financial assets which is predominantly receivables.

41 No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified
by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding
Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities
identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf
of the Ultimate Beneficiaries.

42 The Code on Social Security 2020 (""the Code"") relating employee benefits, during the employment and post employment,
has received presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the
Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date
from which the changes are applicable is yet to be notified and rules for quanitifying the financial impact are yet to be issued.

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

43 Dividends:

i) The Board of directors of the Company have proposed final dividend of 13 /- (Previous Year: 11/-) per equity share of
110/- fully paid up for the year ended March 31, 2025 which is subject to approval of the members in the ensuing annual
general meeting.

ii) The Board of Directors of the Company have paid an interim dividedn of Re.1/- per equity share of 110/- each fully paid
up during the year.

44 Additional Disclosures:

(i) Transactions and balances with companies which have been removed from register of Companies [struck off companies]
as at the above reporting periods is Nil.

(ii) The Company has not traded / invested in Crypto currency.

(iii) The Company has no 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).

(iv) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender.

(v) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

(vi) The Company has granted loans to related parties as follows:

45 Standards Issued but not effective:

The Ministry of Corporate affairs has notified on May 7, 2025 certain amendments to Ind AS 21 - Effect of changes in FX rates.
The company is in the process of studying the amendments and ascertaining its impact.

In Accordance with our Report Attached

for BK Ramadhyani & Co. LLP For and on behalf of Board of Directors

Chartered Accountants ASM Technologies Limited

Firm Registration
No.: 0028785/ S200021

(Vasuki HS) M R Vikram Rabindra Srikantan M Lakshminarayan Ramesh Radhakrishnan

Partner Chairman Managing Director Director Director

Membership No.: 212013 DIN- 00008241 DIN- 00024584 DIN- 00064750 DIN- 02608916

Hardik Agrawal Preeti R Narsingh Rathod Vanishree Kulkarni

Director Director Chief Financial Officer Company Secretary

DIN- 10580697 DIN- 00216818

Place: Bangalore
Date: May 18, 2025