S. Provisions

Provisions for legal claims and discounts / incentives
are recognised when the Company 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. These are reviewed at
each balance sheet date and adjusted to reflect the
current management estimates.

T. Contingent Liabilities

Contingent liabilities are disclosed when there
is a possible obligation arising from past events,
the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more
uncertain future events not wholly within the
control of the Company or a present obligation
that arises from past events where it is either
not probable that an outflow of resources will
be required to settle the obligation or a reliable
estimate of the amount cannot be made.

U. Treasury Shares

Own equity instruments that are reacquired
(treasury shares) are recognised at cost and
deducted from Equity. No gain or loss is recognised
in profit & loss on purchase, sale, issue or
cancellation of the Company's own shares. Any
difference in between the carrying amount and
the consideration is shown separately as part of
Other equity.

V. Segmental Information

The Company is engaged in the business of Power
Electronics which is considered as the primary
reportable business segment as per Ind AS 108
"Segment Reporting" issued by the Institute of
Chartered Accountants of India.

W. Earnings per share

Earnings per share is calculated by dividing the
profit attributable to the equity shareholders by
the weighted average number of equity shares
outstanding during the year.

Diluted earnings per share amounts are calculated
by dividing the profit attributable to equity
shareholders by the weighted average number of
equity shares outstanding during the year plus the
weighted average number of equity shares that
would be issued on conversion of all the dilutive
potential equity shares into equity shares.

X. New Standards/Updates on Standards

Ministry of Corporate Affairs ("MCA") notifies
new standards or amendments to the existing
standards under Companies (Indian Accounting
Standards) Rules as issued from time to time.
For the year ended March 31, 2025, MCA has not
notified any new standards or amendments to the
existing standards applicable to the Company.

Note 40 Segment Reporting

The Company's Board of Directors together with the Chief Executive Officer has been identified as the Chief Operating
Decision Maker (CODM) as defined under IND AS 108 : 'Operating Segments'. The CODM evaluates the Company's
performance and allocates resources based on an analysis of various performance parameters. The Company is
primarily engaged in only one business segment i.e business of manufacturing components for 'Power Electronics'.
The Company has accordingly identified this as Operating Segments in accordance with requirements of IND AS 108 :
Operating Segments.

Note 42 Share Warrants

Pursuant to special resolution passed by the shareholders on 10^th March, 2024 through Postal Ballot, the board of
directors have approved the allotment of 10,00,000 (Ten Lakh) Convertible warrants at an issue price of ? 855/- (INR
Eight Hundred and Fifty Five only) per warrant on preferential basis to the Non-Promoters allottees.

The Company had received 25% of the issue price per warrant i.e. ? 213.75/- (INR Two Hundred and Thirteen and
Seventy Five paise only) as upfront payment aggregating to ? 21,37,50,000/- (INR Twenty One Crores Thirty Seven
Lakhs Fifty Thousand only) for allotment of 10,00,000 Convertible Warrants as per the terms of the issue.

Each Warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share of face value of
? 10/- (INR Ten only) of the Company in accordance with the provisions of SEBI (Issue of Capital and Disclosure
Requirements) Regulations, 2018, subject to receipt of balance consideration of ? 641.25/- per warrant (being 75% of
the issue price per warrant) from the allottees to exercise conversion option against each such warrant.

The Company shall utilize the proceeds from the preferential issue of Warrants for establishment, development,
and maintenance of a new manufacturing facility in Odisha, either in the Company or in its wholly owned subsidiary,
and/or expansion of existing manufacturing plant in Halol, Gujarat; to explore opportunities for collaboration, joint
ventures, or partnerships with other entities for the purpose of enhancing the technological capabilities and market
presence in the SiC Wafer manufacturing industry and for general corporate purpose which shall enhance the
business of the Company.

During the year, the company has allotted equity shares upon exercise of share warrants. 4,00,000 equity shares
were allotted on 5^th September, 2024 and 3,16,485 equity shares were allotted on 22^nd November, 2024.

Remaining 2,83,515 share warrants are yet to be converted into equity shares.

Note 43 Intangible Assets under Development

During the year, after approval in the last AGM, and as per Arms Length Price calculated by the independent valuer,
company has paid an amount to its related party (SiCamore Semiconductor Inc USA) of ? 4195 lakhs for acquisition
of process know-how in connection with Semiconductor fabrication technology for its upcoming Odisha Project.

Note 45 Financial instruments - Fair values and risk management:

The fair values of the financial assets and liabilities are included at the amount at which the instrument could
be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values :

1. Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other
current liabilities, short term loans from bank and financial institutions approximate their carrying amounts
largely due to short term maturities of these instruments.

2. Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters
such as interest rates and individual credit worthiness of the counterparty. Based on this evaluation, allowances
are taken to account for expected losses of these receivables. Accordingly fair value of such instruments is not
materially different from their carrying amounts.

Accounting classification and fair values:

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including
their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial
liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

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

Level 1

This Level hierarchy includes financial instruments measured using quoted prices. This includes quoted equity
instruments. The fair value of all the equity instruments which are treated in the stock exchanges is valued using the
closing price as at the reporting period.

Level 2

The fair value of derivatives and investment in unquoted equity and unquoted mutual funds instruments 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.The mutual funds are valued using the closing NAV.

Level 3

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

Note 46 Financial Risk Management:

The Company's principal financial liabilities comprise loans and borrowings, advances and trade and other payables.
The purpose of these financial liabilities is to finance the company's operations and to provide to support its operations.
The Company's principal financial assets include loans, trade and other receivables and cash and cash equivalents that
derive directly from its operations.

The Company's activities exposes it to Liquidity Risk, Market Risk and Credit Risk. The Board of Directors reviews and
agrees policies for managing each of these risks which are summarised as below:

The Company's activity exposes it to Market Risk, Liquidity Risk, Interest Risk and Credit Risk. This note explains the
sources of risk which the entity is exposed to and how the entity manages the risk.

(A) Liquidity Risk:

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are
settled by delivering cash or another financial asset. Liquidity Risk Management implies maintaining sufficient
cash including availability of funding through an adequate amount of committed credit facilities to meet the
obligations as and when due.

Liquidity Risk is the risk that the Company will encounter difficulty in raising funds to meet commitments
associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity Risk
may result from an inability to sell a financial asset quickly at close to its fair value.

Prudent Liquidity Risk Management implies maintaining sufficient cash and marketable securities and the
availability of funding through an adequate amount of committed credit facilities to meet obligations when due
and to close out market positions. Due to the dynamic nature of the underlying business, the Company's treasury
maintains flexibility in funding by maintaining availability under committed credit lines.

(i) Financing Arrangements

The company has access to the following undrawn borrowing facilities as at the end of the reporting period :

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises three types of risk : interest rate risk, currency risk and other price risk, such
as equity price risk and commodity risk. Financial instruments affected by market risk includes investments, deposits,
foreign currency receivables and payables. The Company's treasury team manages the Market Risk, which evaluates
and exercises independent control over the entire process of market risk management.

(B) Foreign Currency Exposure

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in foreign exchange rates. The company has foreign currency trade payables and receivables and is
therefore exposed to foreign exchange risk. The exchange rates have been volatile in the recent years and may
continue to be volatile in the future. Hence the operating results and financials of the Company may be impacted
due to volatility of the rupee against foreign currencies.

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. Since the Company has no borrowings, exposure to risk of change in market
interest rate is Nil.

(C) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counter party fails to meet its contractual
obligations. The company is exposed to credit risks from its operating activities, primarily trade receivables,
cash and cash equivalents, deposits with banks and other financial instruments. Credit Risk is managed by the
Company through credit approvals, establishing credit limits and continuously monitoring the credit worthiness
of customers to which the Company grants credit terms in the normal course of business

(i) Trade Receivables

The Company considers the probability of default upon initial recognition of assets and whether there has
been a significant increase in credit risks on an ongoing basis throughout each reporting period.

To assess whether there is a significant change (increase) in credit risk, the Company compares the risk

of default occurring on the assets as at the reporting date with the risk of default as at the date of initial

recognition. It consider the reasonable and supportive forward looking information such as :

a. Actual or expected significant adverse changes in the business.

b. Actual or expected significant adverse changes in the operating results of the counter-party.

c. Financial or economic conditions that are expected to cause a significant change to the counter-party's
ability to meet its obligations.

d. Significant increase in credit risk on other financial instruments of same counterparty.

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

c The differences arising between the Quarterly filed Statements with the Bank and books of accounts is due
to recognition of gain/loss of foreign exchange fluctuation on receivables/payables in books of accounts after
submitting Statements to the Bank.

d The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

e The Company has not been declared as a willful defaulter by any lender who has powers to declare a company
as a willful defaulter at any time during the financial year or after the end of reporting period but before the date
when the financial statements are approved.

f The Company does not have any transactions with struck-off companies.

g The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign
entities (intermediaries) with the understanding that intermediary shall : i. 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 ii. Provide any guarantee, security or the like on behalf of Ultimate Beneficiaries.

h The Company has not received any fund from any persons or entities, including foreign entities (Funding Party)
with the understanding that Company shall: i. 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 ii. Provide
any guarantee, security or the like on behalf of Ultimate Beneficiaries

i The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

j The Company does not 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).

Note 48 Capital 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 issue new shares, adjust the amount of
dividends paid to shareholders etc. The Company's policy is to maintain a stable and strong capital structure and
to sustain future development and growth of the business. The Company will take appropriate steps in order to
maintain, or if necessary adjust, its capital structure.

The Company monitors capital using a gearing ratio being a ratio of net debt as a percentage of total capital.

Note 49

Prior year comparatives have been regrouped and reclassified wherever necessary to conform to the current year's
presentation. Amounts and other disclosures for the prior year are included as an integral part of the current year
financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.
All figures mentioned as 0.00 represent very small amount below C 500.

As per our report of even date For and on behalf of the Board of Directors

For Kirtane & Pandit LLP, RIR POWER ELECTRONICS LTD

Chartered Accountants

Firm's Registration No: 105215W/W100057

Aditya A Kanetkar BHAVNA H MEHTA RAJIV CHOKSEY

Partner Managing Director Director

M. No : 149037 (DIN: 00929249) (DIN: 00191019)

RAMESH TRASI BHAVIN P RAMBHIA

Place: Mumbai CEO & CFO COMPANY SECRETARY

Date : May 29, 2025 M.No. A25849