(n) Provisions and contingent liabilities

Provisions for legal claims and service warranties are
recognized 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 recognized
for future operating losses. The expense relating to
a provision is presented in the statement of profit
and loss net of any reimbursement (recognised
only if realisation is virtually certain). 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.

Provision for onerous contracts are recognized when
the expected benefits to be derived by the Company
from a contract are lower than the unavoidable
cost of meeting the future obligations under the
contract. The provision is measured at present value
of the lower of the expected cost of termination the
contract and the expected net cost of continuing
with the contract. Before a provision is established,
the Company recognizes any impairment loss on the
assets associated with the contract to the statement
of profit and loss.

Contingent liability is a possible obligation
arising from past events and whose existence
will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events
not wholly within the control of the entity or a
present obligation that arises from past events
but is not recognized because it is not probable
that an outflow of resources embodying economic
benefits will be required to settle the obligation or
the amount of the obligation cannot be measured
with sufficient reliability. Contingent liabilities are
not recognised; however, their existence is disclosed
in the Standalone Financial Statements.

(o) Employee benefit obligations

(i) Short-term obligations

Liabilities for wages and salaries, including
non-monetary benefits that are expected
to be settled wholly within 12 months after
the end of the period in which the employees
render the related service are recognized in
respect of employees' services up to the end of
the reporting period and are measured at the
amounts expected to be paid when the liabilities
are settled. The liabilities are presented as
current employee benefit obligations in the
balance sheet.

(ii) Other long-term employee benefit
obligations

The liabilities for earned leave and sick leave
are not expected to be settled wholly within
12 months after the end of the period in
which the employees render the related
service. They are therefore measured as the
present value of expected future payments
to be made in respect of services provided by
employees up to the end of the reporting period
using the projected unit credit method. The
benefits are discounted using the appropriate
market yields on government bonds at the
end of the reporting period that have terms
approximating to the terms of the related
obligation. Remeasurements comprising of as
a result of experience adjustments and changes
in actuarial assumptions are recognised
immediately in the statement of profit and loss
in the period in which they occur.

(iii) Post - employment obligations

Defined benefit plans:

Provident Fund

Employees Provident Fund contributions are
made to a Trust administered by the Company.
The Company's liability is actuarially determined
(using the Projected Unit Credit method) at the
end of the year. The contributions made to
the trust are recognised as plan assets. The
defined benefit obligation recognised in the
balance sheet represents the present value of
the defined benefit obligation as reduced by the
fair value of plan assets. If the interest earnings
and cumulative surplus of Trust are less than
the present value of the defined benefit
obligation the interest shortfall is provided for
as additional liability of employer and charged
to the statement of profit and loss.

Gratuity

Gratuity is a post employment defined benefit
plan. The liability recognized in the Balance
Sheet in respect of gratuity is the present value
of the defined benefit obligation at the Balance
Sheet date less fair value of plan assets. The
Company's liability is actuarially determined
(using the projected unit credit method) at the
end of each year. Remeasurement gains and
losses arising from experience adjustments and
changes in actuarial assumptions are recognised
in the period in which they occur, directly in other
comprehensive income. They are included in

retained earnings in the statement of changes
in equity and in the balance sheet.

Past service costs are recognised in profit or
loss on the earlier of:

• The date of the plan amendment or
curtailment, and

• The date that the Company recognises
related restructuring costs.

Net interest is calculated by applying the
discount rate to the net defined benefit
liability or asset. The Company recognises the
following changes in the net defined benefit
obligation as an expense in the standalone
statement of profit and loss:

• Service costs comprising current service
costs, past-service costs, gains and
losses on curtailments and non-routine
settlements; and

• Net interest expense or income.

Defined contribution plan:

Superannuation

The Company makes defined contribution to a
Trust established for this purpose. The Company
has no further obligation beyond its monthly
contributions. The Company's contribution
towards Superannuation Fund is charged to
Statement of Profit and Loss on accrual basis.

Overseas Employees

In respect of employees of the overseas
branches where ever applicable , the Company
makes defined contributions on a monthly basis
towards the retirement saving plan which are
charged to the Standalone Statement of Profit
and Loss on accrual basis.

(iv) Share-based payments

Share-based compensation benefits are
provided to employees via the Coforge
Employee Stock Option Plan 2005 (formerly NIIT
Technologies Employee Stock Option Plan 2005).

Equity settled employee stock options

The fair value of options granted under Employee
Stock Option Plan is recognized as an employee
benefits expense with a corresponding increase
in equity. The total amount to be expensed is
determined by reference to the fair value of the
options granted:

- including any market performance conditions

- excluding the impact of any service and non¬
market performance vesting conditions
(e.g. profitability, sales growth targets and
remaining an employee of the entity over a
specified time period), and

- including the impact of any non-vesting
conditions (e.g. the requirement for
employees to save or holdings shares for a
specific period of time)

The total expense is recognized over the vesting
period, which is the period over which all of the
specified vesting conditions are to be satisfied.
At the end of each period, the entity revises
its estimates of the number of options that
are expected to vest based on the non-market
vesting and service conditions. It recognizes the
impact of the revision to original estimates, if
any, in profit or loss, with a corresponding
adjustment to equity.

(p) Dividends

Dividend to shareholders is recognised as a
liability and deducted from equity, in the year /
period in which the dividends are approved by
the shareholders.

(q) Earnings per share
Basic earnings per share

Basic earnings per share is calculated by dividing:

- The profit attributable to owners of the Company

- By weighted average number of equity shares
outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the
year and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share adjusts the figures used in
the determination of basic earnings per share to take
into account.

- The after income tax effect of interest and other
financing costs associated with dilutive potential
equity shares and

- The weighted average number of additional
equity shares that would have been outstanding
assuming the conversion of all dilutive potential
equity shares.

(r) Business combinations

Business combinations are accounted for using
the acquisition method other than business
combinations of entities under common control. The
cost of an acquisition is measured as the aggregate
of the consideration transferred measured at
acquisition date fair value and the amount of any
non-controlling interests in the acquiree. For each
business combination, the Company elects whether
to measure the non-controlling interests in the
acquiree at fair value or at the proportionate share
of the acquiree's identifiable net assets. Acquisition
related costs are expensed as incurred.

At the acquisition date, the identifiable assets
acquired and the liabilities assumed are recognized
at their acquisition date fair values. For this purpose,
the liabilities assumed include contingent liabilities
representing present obligation and they are
measured at their acquisition fair values irrespective
of the fact that outflow of resources embodying
economic benefits is not probable.

Goodwill is initially measured at cost, being the excess
of the aggregate of the consideration transferred
and the amount recognized for non-controlling
interests, and any previous interest held, over the net
identifiable assets acquired and liabilities assumed.

After initial recognition, goodwill is measured at cost
less any accumulated impairment losses. For the
purpose of impairment testing, goodwill acquired
in a business combination is, from the acquisition
date, allocated to each of the Company's cash¬
generating units that are expected to benefit from
the combination, irrespective of whether other
assets or liabilities of the acquiree are assigned to
those units.

Liability for non-controlling interests

Liability for put option issued to non-controlling
interests which do not grant present access to
ownership interest to the Company is recognised
at present value of the redemption amount and is
reclassified from equity. At the end of each reporting
period, the non-controlling interests subject to put
option is derecognised and the difference between
the amount derecognised and present value of the
redemption amount, which is recorded as a financial
liability, is accounted for as an equity transaction.

(s) Fair value measurements

The Company measures financial instruments, such
as investment in mutual funds and derivatives, at

fair value at each balance sheet date. The Company
also measures assets and liabilities acquired in
business combination at fair value. 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 the asset or liability, or

- in the absence of a principal market, in the most
advantageous market for the asset or liability

All assets and liabilities for which fair value is
measured or disclosed in the Standalone Financial
Statements are categorised 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) 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

At each reporting date, management analyses
the movements in the values of assets and
liabilities which are required to be remeasured
or re-assessed as per the Company's accounting
policies. For this analysis, management regularly
reviews significant unobservable inputs applied
in the valuation by agreeing the information in
the valuation computation to contracts and other
relevant documents.

(t) Current versus non-current classification

The Company presents assets and liabilities
in the balance sheet based on current/ non¬
current classification.

An asset is treated as current when it is:

- Expected to be realised or intended to be sold or
consumed in normal operating cycle

- Held primarily for the purpose of trading

- Expected to be realised within twelve months
after the reporting period, or

- Cash or cash equivalent unless restricted from
being exchanged or used to settle a liability for
at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating
cycle

- It is held primarily for the purpose of trading

- It is due to be settled within twelve months after
the reporting period, or

- There is no unconditional right to defer the
settlement of the liability for at least twelve
months after the reporting period

The Company classifies all other liabilities as non¬
current.

Deferred tax assets and liabilities are classified as
non-current assets and liabilities.

The operating cycle is the time between the acquisition
of assets for processing and their realisation in cash
and cash equivalents. The Company has identified
twelve months as its operating cycle.

(u) Rounding of amounts

All amounts disclosed in the Standalone Financial
Statements and notes have been rounded off to the
nearest millions, unless otherwise stated.

* Recent Accounting Pronouncements

New and amended standards adopted by the
Company

The Ministry of Corporate Affairs has notified Companies
(Indian Accounting Standards) Amendment Rules, 2024
dated August 12, 2024 to amend the following Ind AS
which are effective for annual periods beginning on or
after April 1, 2024. The Company applied for the first-time
these amendments.

(i) Ind AS 117 Insurance Contracts

The Ministry of corporate Affairs (MCA) notified the
Ind AS 117, Insurance Contracts, vide notification
dated August 12, 2024, under the Companies (Indian

Accounting Standards) Amendment Rules, 2024,
which is effective from annual reporting periods
beginning on or after April 1, 2024.

Ind AS 117 Insurance Contracts is a comprehensive
new accounting standard for insurance contracts
covering recognition and measurement,
presentation and disclosure. Ind AS 117 replaces
Ind AS 104 Insurance Contracts. Ind AS 117 applies
to all types of insurance contracts, regardless of
the type of entities that issue them as well as to
certain guarantees and financial instruments with
discretionary participation features; a few scope
exceptions will apply. Ind AS 117 is based on a general
model, supplemented by:

• A specific adaptation for contracts with direct
participation features (the variable fee approach)

• A simplified approach (the premium allocation
approach) mainly for short-duration contracts

The application of Ind AS 117 had no impact on the
Company's Standalone Financial Statements as the
Company has not entered any contracts in the nature
of insurance contracts covered under Ind AS 117.

(ii) Amendment to Ind AS 116 Leases - Lease
Liabilities in a Sale and Leaseback

The MCA notified the Companies (Indian Accounting
Standards) Second Amendment Rules, 2024, which
amend Ind AS 116, Leases, with respect to Lease
Liabilities in a Sale and Leaseback.

The amendment specifies the requirements that a
seller-lessee uses in measuring the lease liabilities
arising in a sale and leaseback transaction, to ensure
the seller-lessee does not recognise any amount
of the gain or loss that relates to the right of use
it retains.

The amendment is effective for annual reporting
periods beginning on or after April 1, 2024. The
amendment does not have a material impact on the
Company's Standalone Financial Statements.

Standards notified but not yet effective

There are no standards that are notified and not yet
effective as on the date.

Terms and rights attached to equity shares

The Company has one class of equity shares having a par value of INR 10 per share. Every holder of equity shares present
at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote. The dividend
proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except
in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of
the Company after distribution of all preferential amounts, in proportion to their shareholding.

During the year, the Company has issued 4,869,565 equity shares of INR 10 each in Qualified Institutions Placement ('QIP')
at an issue price of INR 4,600 per share (including securities premium of INR 4,590 per share) aggregating to INR 22,400
Mn. INR 49 Mn has been adjusted towards Equity Share capital and INR 22,351 Mn has been adjusted towards securities
premium (comprises 4,869,565 Equity Shares issued at INR 4,590 per Equity Share) included in 'Securities Premium'. The
Holding Company had incurred expenses amounting to INR 386 Mn. towards issuance of equity shares which have been debited
to securities premium. The purpose of the offer was acquisition of equity shares in Cigniti Technologies Limited ("Cigniti"),
including all associated costs. As at March 31, 2025, the Company has fully utilised the above amount (refer note 5(iv)).

The Board of Directors of the Company, at its meeting held on March 04, 2025, approved a proposal for sub-division / split
of every 1 (One) Equity Share of INR 10 (INR Ten only) each into 5 (Five) Equity Shares of INR 2 (INR Two Only) each and
the consequent amendment to the Memorandum of Association of the Company subject to the approval of Members of
the Company. Further, the Members of the Company has approved the same through postal ballot on April 17, 2025.
Further, the Board of Directors at its meeting held on May 05, 2025, approved the Record Date for Split/Sub-division of Equity
Shares as June 04, 2025.

Shares reserved for issue under options

Information relating to Employee Stock Option Plan, including details of options issued, exercised and lapsed during the
financial year and options outstanding at the end of the reporting period, is set out in note 31.

Nature and purpose of other reserves
Cash flow hedging reserve

The Company uses hedging instruments as part of its management of foreign currency risk associated with its highly
probable forecasted transactions, i.e., revenue, as described within Note 23. For hedging foreign currency risk, the company
uses Foreign Currency Forward Contracts which are designated as Cash Flow Hedges. To the extent these hedges are
effective; the change in fair value of the hedging instrument is recognized in the Cash Flow Hedging Reserve. Amount
recognized in the Cash Flow Hedging Reserve is reclassified to profit or loss when the hedged item effects profit and loss,
under Revenue from operations.

Capital redemption reserve

In accordance with section 69 of the Indian Companies Act, 2013, the Company creates capital redemption reserve equal to
the nominal value of the shares bought back as an appropriation from general reserve /retained earnings.

Capital Reserve

Capital Reserve is not freely available for distribution.

Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve is utilized in accordance with the
provisions of the Companies Act 2013.

Employee stock option

The share options outstanding is used to recognize the grant date fair value of options issued to employees under Coforge
Employee Stock Option Plan 2005.

General reserve

The General Reserve is as per the requirements of Companies Act, 2013 in respect of companies incorporated in India.

Retained earnings

Retained earnings represent the amount of accumulated earnings of the Company.

a) Term loans from bank - are secured by way of hypothication of the vehicles financed. The loan amounts along with
interest are repayable over the period of 39 to 60 months (equal monthly instalments) from the date of sanction of
loan. The interest rate on above loans are within the range of 8.60% to 9.05%. per annum.

(b) The carrying amount of assets pledged as security for current and non-current borrowings are disclosed in note 3.

(c) During the year, the Company repaid unsecured listed, rated, redeemable, non-convertible bonds amounting to INR 3,400
Mn as per terms of the Bond trust deed.

(d) Loan repayable on demand from bank includes working capital in the form of working capital demand loan payable on
demand. Interest on Working Capital lines is in the range of 5.29 % to 7.88%. Security: charge by way of hypothecation
on the Company's trade receivables and such other movables including bills whether documentary or clean, outstanding
monies, receivable both present and future, in a form and manner satisfactory to the bank.

(iii) Defined benefit liability and employer contributions

The Company monitors the funding levels on an annual basis and the current agreed contribution rate is 12% of the basic
salaries in India.

(iv) Defined contribution plans

The Company makes contribution towards Superannuation Fund, Pension Fund, Employee State Insurance Fund and Overseas
Plans (related to the branches in the United States of America, Ireland, Belgium and Switzerland), being defined contribution
plans for eligible employees. The Company has charged the following amount in the Statement of Profit and Loss:

Note : The Company deals in number of software and hardware items whose selling price vary from item to item. In view of
voluminous data information relating to major items of sales have not been disclosed in the Standalone Financial Statements.

Note: For the long term contract with customer having significant variable consideration, the Company recognises
revenue basis its best estimate of margin over cost and estimated variable consideration using expected value method.
At the end of each reporting period, the Company shall update the estimated transaction price including updating its
assessment of whether an estimate of variable consideration is constrained.

Payment terms

Majority of the Company's revenue involve payment terms less than one year from the date of satisfaction of performance
obligation. However, in case of contracts for grant of right of use for license and long term contracts, payments are due over
license/contract period. In these cases, the Company has identified that the contract contains significant financing component.

d. Performance obligations and remaining performance obligations

The remaining performance obligation disclosure provides the aggregate amount of the transaction price yet to be
recognized as at the end of the reporting period and an explanation as to when the Company expects to recognize these
amounts in revenue. Applying the practical expedient as given in IndAS115, the Company has not disclosed the remaining
performance obligation related disclosures for contracts where the revenue recognized corresponds directly with the
value to the customer of the entity's performance completed to date, typically those contracts where invoicing is on
time and material basis, fixed monthly / fixed capacity basis and transaction basis. Remaining performance obligation
estimates are subject to change and are affected by several factors, including terminations, changes in the scope of
contracts, periodic revalidations, and adjustment for revenue that has not materialized and adjustments for currency.

The aggregate value of performance obligations that are completely or partially unsatisfied as of March 31, 2025, other
than those meeting the exclusion criteria mentioned above, is INR 118,106 Mn (Previous Year INR 1,728 Mn). Out of this,
the Company expects to recognize revenue of INR 11,365 Mn (Previous Year INR 1,670 Mn) within the next one year.
This includes contracts that can be terminated for convenience without a substantive penalty since, based on current
assessment, the occurrance of the same is expected to be remote.

The carrying amounts of current portion of trade receivables, trade payables, capital creditors, security deposits, unpaid
dividend account, deposits with bank, cash and cash equivalents, short term borrowings, trade and other payables, capital
creditors, unclaimed dividend are considered to be the same as their fair values, due to their short term nature.

Investments in equity instruments (quoted & unquoted) are carried at cost.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

The fair values for security deposits were calculated based on cash flows discounted using a current lending rate.

(i) Fair value hierarchy

This section explains the judgments and estimates made in determining the fair values of the financial instruments
that are:

(a) recognized and measured at fair value, and

(b) measured at amortized cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its
financial instruments into the three levels prescribed under the accounting standard.

All other assets and liabilities are measured at amortised cost

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity
instruments, traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including
bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual
funds are valued using the closing net asset value.

Level 2: The fair value of financial instruments that are not traded in an active market (for example foreign exchange
forward contracts) is determined using valuation techniques which maximize the use of observable market data and
rely as little as possible on Company-specific estimates. If all significant inputs required to fair value an instrument are
observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level
3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

The Company's policy is to recognize transfers into and transfers out of fair value hierarchy levels at the end of reporting
period. There has been no transfer during the period.

(ii) Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

- The use of quoted market prices for similar instruments.

- Derivative financial instruments are valued based on quoted prices for similar assets and liabilities in active markets
or inputs that are directly or indirectly observable in the marketplace.

- The fair value of the remaining financial instruments is determined using discounted cash flow analysis.

Hedging activities and derivatives

The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's operating activities
(when revenue or expense is denominated in a foreign currency) and the Company's net investments in foreign subsidiaries.

The Company manages its foreign currency risk by hedging transactions that are expected to occur within a maximum
12-month period for hedges of forecasted sales.

*The resultant impact on the cash flow hedge reserve for the year ended March 31, 2025 and March 31, 2024; on account of changes
in the fair value has been reconciled in Note No. 11(vii).

Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective
effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging
instrument, including whether the hedging instrument is expected to offset changes in cash flows of hedged items.

If the hedge ratio for risk management purposes is no longer optimal but the risk management objective remains
unchanged and the hedge continues to qualify for hedge accounting, the hedge relationship will be rebalanced by
adjusting either the volume of the hedging instrument or the volume of the hedged item so that the hedge ratio aligns
with the ratio used for risk management purposes. Any hedge ineffectiveness is calculated and accounted for in profit
or loss at the time of the hedge relationship rebalancing.

24 Financial risk management

The Company's principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables.
All the finances are made out of internal accruals. The Company's principal financial assets include loans, trade and other
receivables, and cash and short-term deposits that derive directly from its operations. The Company also enters into
derivative transactions.

The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the
management of these risks. The Company's senior management is supported by a financial risk committee that advises on
financial risks and the appropriate financial risk governance framework for the Company. The financial risk committee provides
assurance to the Company's senior management that the Company's financial risk activities are governed by appropriate
policies and procedures and that financial risks are identified, measured and managed in accordance with the Company's
policies and risk objectives. All derivative activities for risk management purposes are carried out by specialist teams that
have the appropriate skills, experience and supervision. It is the Company's policy that no trading in derivatives for speculative
purposes may be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are
summarised below:

(a) Market Risk

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 include loans and borrowings, deposits, fair value
through profit and loss and derivative financial instruments.

- 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
changes in market interest rates.

The Company has paid non-convertible bonds during the current year and accordingly there is no significant concentration
of interest rate risk (Refer note 18).

The Company is exposed to interest rate risk on short-term and long-term floating rate debt. The borrowings of the
Company are principally denominated in Indian Rupees and US dollars in floating rates of interest.

(b) 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) and from
its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other
financial instruments.

Trade Receivables

The customers of the Company are primarily corporations based in the United States of America and Europe and accordingly,
trade receivables are concentrated in the respective countries. The Company periodically assesses the financial reliability of
customers, taking into account the financial condition, current economic trends, analysis of historical bad debts and ageing
of accounts receivables. The Company has used the expected credit loss model to assess the impairment loss or gain on trade
receivables and unbilled revenue, and has provided it wherever appropriate.

25 Capital Management
a) Risk management

For the Company's capital management, capital includes issued equity share capital, securities premium and all other equity
reserves attributable to the shareholders. The primary objectives of the Company's capital management are to maximise the
shareholder value and safeguard their ability to continue as a going concern. The Company has repaid Non Convertible Bonds
(NCB) during the current year. The Company has complied with the financial covenants attached with above stated borrowings
throughout the reporting period. The funding requirements are generally met through operating cash flows generated. No
changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2025 and
March 31, 2024.

Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company's treasury department in accordance
with the Company's policy. Investments of surplus funds are made only with approved counterparties and within credit limits
assigned to each counterparty. Counterparty credit limits are reviewed by the Company's Board of Directors on an annual
basis, and may be updated throughout the year subject to approval of the Company's Finance Committee. The limits are
set to minimise the concentration of risks and therefore mitigate financial loss through counterparty's potential failure to
make payments.

Recovery for expenses

Corporate charges incurred at group level are allocated to subsidiaries on appropriate basis. The Company agrees cost plus
markup price and payment terms with the related parties.

Guarantee

The Company has given corporate guarantee against loan taken by wholly owned subsidiary ("WOS"), in the year
2024-25 to finance its working capital. The loan has been utilized by subsidiary for the purpose it was obtained.
The Company is entitled to recover losses from subsidiary if it needs to make any payment to bank under the
guarantee arrangement. The Company receive the commission from subsidiary for providing the guarantee.
The Company has given performance guarantee against contract with customer entered into by WOS. The Company have
right to recover losses from WOS.

Transactions relating to dividends, subscriptions for new equity shares were on the same terms and conditions that applied
to other shareholders.

F. Terms and Conditions

Rendering and receiving of services to/from related party

The Company has entered into contract with related party for rendering and receiving of services related to the Information
Technology / Information Technology Enabled Services ("IT / ITES") at arm's length price and in the ordinary course of business.
The Service Agreement requires the related party to make payment as per agreed terms of payment into the contract.
Outstanding balances of trade receivables or trade payables to holding Company, subsidiary and fellow subsidiary are
unsecured, interest free and require settlement in cash. The amounts are recoverable and payable within credit period from
the invoice date. For the year ended March 31, 2025, the Company has not recorded any impairment on receivables due from
related parties (March 31, 2024: Nil).

The Company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The
Company's management does not reasonably expect that these legal actions, when ultimately concluded and determined,
will have a material and adverse effect on the Company's results of operations or financial condition. Further, it is not
practicable for the Company to estimate the timing of cash outflows, if any, in respect of the above pending resolution
of the respective proceedings.

ii) The Company does not expect any reimbursements in respect of the above contingent liabilities.

iii) Litigation with customers

A complaint has recently been filed by named plaintiffs on behalf of a putative class of similarly situated persons against
the Subsidiary and the Company. The allegations in the complaint relate to a security incident experienced by the Client.
The Company provided the Client with outsourced staffing for an employee help desk ("Service Desk"). The complaint
alleges that, in the incident, a threat actor misled Service Desk agents into resetting passwords of employee accounts
that were then used by the threat actors to access and exfiltrate a copy of the Client's customer loyalty database
("Database"). The complaint mischaracterizes the terms of the Company's engagement by the Client, the Company's
role with respect to the Database, and the responsibilities undertaken by the Service Desk agents. The Company did not
provide core cybersecurity threat, protection, detection, or remediation services for the Client, did not have access to
or responsibility for the Database, and had no role in managing or administering it.

The Company is evaluating insurance coverage under its existing insurance policies and is in discussions with its legal
counsel to take appropriate steps in relation to such a complaint. The amount of liability / quantum of claims, pursuant
to such a complaint, cannot be ascertained at this stage.

The Company continues to provide services to the Client on a regular basis with no meaningful impact on the revenues
received from such Client, which do not represent a material portion of the Company's overall revenue.

iv) Income tax

Claims against the Company not acknowledged as debts as on March 31, 2025 include demand from the Indian Income
tax authorities on certain matters relating to Transfer pricing and availment of tax holiday and transfer pricing.

The Company is contesting these demands and the management including its tax advisors believe that its position will
more likely be upheld in the appellate process. The management believes that the ultimate outcome of these proceedings
will not have a material adverse effect on the Company's financial position and results of operations.

The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment
benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However,
the date on which the Code will come into effect has not been notified and the final rules / interpretation have not yet
been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact
in the period the Code becomes effective.

34 Other Statutory Information

The Company have 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

The Company have 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

35 Segment Information

As per Ind AS 108 - Operating Segments, where the financial report contains both the consolidated financial statements of a
parent as well as the parent's separate financial statements, segment information is required only in the consolidated financial
statements, accordingly no segment information is disclosed in these Standalone Financial Statements of the Company.

36 The Company has been using accounting software for maintaining its books of account which has a feature of recording audit
trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software,
except that audit trail feature cannot be enabled at the database level insofar as it relates to accounting software. Further,
no instance of audit trail feature being tampered with was noted in respect of accounting software. Additionally, the audit
trail has been preserved as per the statutory requirements for record retention.

37 Mr. Hari Gopalkrishnan & Mr. Patrick John Cordes has resigned as the Non-Executive Director w.e.f. May 02, 2024, and Mr. Basab
Pradhan has completed his 2^nd term as Independent Director on June 28, 2024.

Mr. Om Prakash Bhatt has been appointed as Additional Director and Independent Director on the Board of the Company w.e.f.
May 01, 2024, and as Chairperson of the Board w.e.f. June 29, 2024 and approved by the Shareholders of the Company on July
07, 2024

Mr. Gautam Samanta has been appointed as Additional Director and Executive Director on the board of the Company w.e.f.
May 02, 2024 and approved by the Shareholders of the Company on July 07, 2024

Mr. Sudhir Singh has been re-appointed as the Executive Director for a term of 5 (five) years with effect from January 29,
2025 up to January 28, 2030

38 Events after the reporting period

There were no significant reportable subsequent event that occurred after the balance sheet date but before standalone
financial statament were issued.

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

For S.R. Batliboi & Associates LLP Sudhir Singh Gautam Samanta

Chartered Accountants CEO & Executive Director Executive Director

Firm Registration No. 101049W/E300004 DIN : 07080613 DIN : 09157177

Place : Gurugram Place : Gurugram

Date : 5 May 2025 Date : 5 May 2025

per Vineet Kedia Saurabh Goel Barkha Sharma

Partner Chief Financial Officer Company Secretary

Membership No. 212230 Place : Gurugram Place : Gurugram

Place : Gurugram Date : 5 May 2025 Date : 5 May 2025

Date : 5 May 2025