2.12 Provisions, contingent liabilities and contingent assets

Provisions for legal claims, service warranties, volume discounts and returns 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 for
restructuring are recognised by the Company when it has developed a detailed formal plan for restructuring and has raised a valid
expectation in those affected that the Company will carry out the restructuring by starting to implement the plan or announcing its

main features to those affected by it.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one
item included in the same class of obligations may be small. Provisions are measured at the present value of management’s best
estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to
determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks
specific to the liability. The increase in the provision due to the passage of time is recognised as interest expense.

The measurement of provision for restructuring includes only direct expenditures arising from the restructuring, which are both
necessarily entailed by the restructuring and not associated with the ongoing activities of the Company.

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 or a reliable estimate of the amount cannot be made.

Contingent Assets are disclosed, where an inflow of economic benefits is probable.

2.13 Financial instruments

Financial instruments include Financial assets and financial liabilities that are recognized when an entity becomes a party to the
contractual provisions of the instrument. All financial assets are recognized as per the accounting standards as applicable to each
of those instruments.

2.14 Discontinued operations

During the year, there are no transactions relating to Discontinued operations, hence disclosure under Ind AS 105 notified under
the Accounting Standards is not applicable for the current and previous financial year.

2.15 Revenue from contracts with customers

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an
amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The
Company has generally concluded that it is the principal in its revenue arrangements, because it typically controls the goods or
services before transferring them to the customer. Revenue is recognised to the extent that it is probable that the economic benefits
will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is
measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment.

2.16 Other Income

Revenue from sale of goods and services in the course of ordinary activities is measured at the fair value of the consideration
receivable, net of trade discounts and volume rebates also excludes taxes or amount collected from customers in its capacity as
agent. Revenue is recognized when significant risks and rewards of their ownership are transferred to the buyer, recovery of the
consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing
effective control over, or managerial involvement with, the goods and services, and the amount of revenue can be measured
reliably.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the
amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding
and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through
the expected life of the financial asset to that asset’s net carrying amount on initial recognition.

2.18 There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development
Act, 2006 (as amended) to whom the Company has dues on account of Principal amount together with interest and
accordingly no additional disclosures have been made. The ministry of micro, small and medium enterprise has issued an
office Memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their
correspondence with its customers the Entrepreneurs Memorandum number as allocated after filing of the memorandum.
This has been relied upon by the auditors.

2.19 Financial risk management framework

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk
management framework. The board of directors has established a Risk Management Framework which is reviewed and
monitored by the Risk Management Committee. The Committee reports regularly to the board of directors on its activities.
The Company’s risk management policies are established to identify and analyse therisks faced by the Company, to set
appropriate limits and controls and to monitor risksand adherence to limits. The Company, through its training and
established procedures,aims to maintain a disciplined and constructive control environment in which allemployees
understand their roles and obligations.

The Company’s activities expose it to Liquidity risk, and Business risks.

2.22 Disclosure of additional regulatory information in accordance with Paragraph 6(L)of General instructions for preparation of
Balance Sheet of Division II of Schedule III of the Act -

• Title deeds of all tangibles and intangibles disclosed are held in the name of the Company.

• The company does not have investments. Hence, fair value of investment properties as per report issued by registered
valuer is not applicable to the Company for the year.

• The Company has not revalued its Property, Plant and Equipment.

• The Company has not revalued its intangible assets (goodwill).

• The Company has not given any loans and advances in the nature of loans granted to promoters, directors, key
management personnel or any other related parties.

• There is no capital expenditure is pending for completion and whose completion is overdue when compared to its original
plan either as on March 31,2024 and March 31,2023.

• The Company has not made any expenditure towards intangible assets under development.

o The Company has not entered into any scheme of arrangement which has an accounting impact on the current or
previous financial year.

• The Company does not have any benami properties. No proceeding initiated under The Benami Transactions
(Prohibition) Act, 1988 (as amended) and rules made thereunder against the Company.

• The Company has no-borrowings from any bank for the year ended on March 31,2024, and March 31,2023.

• The Company has not been declared as a willful defaulter by any banks, financial institutions or other lenders.

• The Company has not entered any transaction with struck of companies either in the current year or in the previous year.

• The Company has not made any investment in associates, subsidiaries or joint ventures either in the current year or in the
previous year.

Reason for variance in financial ratios -

1. Debt - Equity Ratio: The company is a debt free company. Its not having any long term loans

2. Return on Equity Ratio, Return on Capital Employed & Net Profit Ratio: There is a considerable positive improvement in
all these ratios from the previous year.

2.24 The Company has not traded or invested in crypto currency or virtual currency during the current or previous financial year.

2.25 Previous year numbers have been regrouped or reclassified, where necessary and such reclassifications did not have a
material impact on the financial statements.

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

M/s RPSP Associates

Chartered Accountants

^{FRN: 148876W} Sd/- (Leena Vivek) Director

Sd/-

Ms. Radhika Prabhu

P_art_ner Sd/- (Rajan Pillai), Chairman & Directors

M.No:159484

^{Place : Mumbai} Sd/ - (Dr. S.V.S.Ram), CEO&COO

Date: 25.05.2024

UDIN: 24159484BKHCPX4468