o. Provisions

A provision is recognised when the Company has a present obligation as a result of past event; it is probable that
an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which
a reliable estimate can be made. Provisions are determined based on the best estimate of the amount required to
settle the obligation at the reporting date. If the effect of time value of money is material, provisions are discounted
using a current pre-tax rate that reflects the risks specific to the liability. These estimates are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.

p. Contingent liabilities and commitments

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 recognised 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 recognised because it cannot be measured reliably. Contingent assets are neither recognised nor disclosed in
financial statements.

q. Share based payments

Employees Employees of the Company receive remuneration in the form of share based payment transactions,
whereby employees render services as consideration for equity instruments granted (equity-settled transactions).

The cost of equity-settled transactions is determined by the fair value of the options at the date of the grant and
recognised as employee compensation cost over the vesting period. The cumulative expense recognised for
equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting
period has expired and the Company’s best estimate of the number of equity instruments that will ultimately vest.

At the end of each reporting period, the entity revises its estimates of the number of options that are expected
to vest best on the non-market vesting and service conditions. It recognises the impact of the revisions to the
original estimates, if any, in profit or loss with a corresponding adjustment to equity.

The expense or credit recognised in the statement of profit and loss for the period represents the movement in
cumulative expense recognised as at the beginning and end of that period and is recognised in employee benefits
expense with a corresponding increase in stock options outstanding reserve in equity. In case of the employee
stock option schemes having a graded vesting schedule, each vesting tranche having different vesting period has
been considered as a separate option grant and accounted for accordingly.

Where the terms of an equity-settled transaction award are modified, the minimum expense recognised is the
expense as if the terms had not been modified, if the original terms of the award are met. An additional expense
is recognised for any modification that increases the total fair value of the share-based payment transaction or is
otherwise beneficial to the employee as measured at the date of modification.

The employee stock option expenses in respect of the employees of the subsidiary are charged to the
respective subsidiary.

r. Equity

Ordinary shares are classified as equity share capital. Incremental costs directly attributable to the issuance of new
ordinary shares, share options and buyback are recognised as a deduction from equity, net of any tax effects.

s. Dividend

Final dividend on shares are recorded as a liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by the Company’s Board of Directors.

t. Business Combination

The acquisition method of accounting is used to recognised for all business combinations, when the acquired
set of activities and assets meet the definition of business and control is transferred regardless of whether equity
instruments or other assets are acquired. The acquisition cost is measured as the aggregate of the consideration
transferred and the amount of any non-controlling interest in the acquiree at fair value.

Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with
limited exceptions, measured initially at their fair values at the acquisition date. The Company recognises any
non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the
non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets.

Acquisition-related costs are expensed as incurred.

The excess of the:

• Consideration transferred;

• Amount of any non-controlling interest in the acquired business, and

• Acquisition-date fair value of any previous equity interest in the acquired business over the fair value of the
net identifiable assets acquired is recognised as goodwill. If those amounts are less than the fair value of the
net identifiable assets of the business acquired, the difference is recognised in other comprehensive income
and accumulated in equity as capital reserve provided there is clear evidence of the underlying reasons for
classifying the business combination as a bargain purchase. In other cases, the bargain purchase is recognised
directly in equity as capital reserve.

Business combinations between entities under common control is accounted for using pooling of interest method.
The identity of the reserves is preserved as they appear in the standalone financial statements of the Company
in the same form in which they appeared in the financial statements of the acquired entity. The difference, if
any, between the consideration and the amount of share capital of the acquired entity is transferred to business
transfer reserve.

u. Goodwill / Gain on bargain purchase

Goodwill represents the cost of business acquisition in excess of the Company’s interest in the net fair value of
identifiable assets, liabilities and contingent liabilities of the acquiree. When the net fair value of the identifiable
assets, liabilities and contingent liabilities acquired exceeds the cost of business acquisition, a gain is recognised
in the other comprehensive income as gain on bargain purchase. Subsequent to initial recognition, Goodwill is
measured at cost less accumulated impairment losses.

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.

A cash generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently
when there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is
less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill
allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset
in the unit. Any impairment loss for goodwill is recognised in profit or loss. An impairment loss recognised for
goodwill is not reversed in subsequent periods.

Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed
of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when
determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the
relative values of the disposed operation and the portion of the cash-generating unit retained.

If the initial accounting for a business combination is incomplete by the end of the reporting period in which
the combination occurs, the Company reports provisional amounts for the items for which the accounting
is incomplete. Those provisional amounts are adjusted through goodwill during the measurement period, or
additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances
that existed at the acquisition date that, if known, would have affected the amounts recognised at that date. These
adjustments are called as measurement period adjustments. The measurement period does not exceed one year
from the acquisition date.

v. Cashflow statement

Cash flows are reported using the indirect method, whereby profit for the year 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..

The Company’s objective for capital management is to maximise shareholder value, safeguard business continuity and
support the growth of the Company. The Company determines the capital requirement based on annual operating plans and
longterm and other strategic investment plans. The funding requirements are met through equity, borrowings and operating
cash flows generated. The Company is not subject to any externally imposed capital requirements.

The Board of Directors of the Company at its meeting held on January 20, 2024, recommended the sub-division/ split of 1
(One) fully paid-up equity share having a face value of ?10 each into 2 (Two) fully paid-up equity shares having a face value of
? 5 each by alteration of capital clause of the Memorandum of Association (MOA) subject to the approval of Members of the
Company. The Members of the Company approved the sub-division / Split of 1 (One) fully paid up equity share of ? 10 each
into 2 (Two) fully paid up equity shares of ? 5 each through a postal ballot with a requisite majority and the voting results were
declared on March 11, 2024.

Further, the Board of Directors at its meeting held on March 13, 2024, approved the Record Date for Split / Sub-division of
Equity Shares as April 1, 2024.

Consequent to this, the authorised share capital comprises 400 Million equity shares having a face value of ? 5 each
aggregating to ? 2,000 Million, and the paid-up capital comprises 154.05 Million equity shares having a face value of ? 5
each aggregating to ? 770.25 Million. The impact of this has been considered in the financial statement.

b. Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of ?5 per share. Each holder of equity shares is
entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

The Board of Directors of Persistent Systems Limited, at its meeting held on January 22, 2025, declared an interim
dividend of ? 20 per equity share of face value of ? 5 each for the Financial Year 2024-25.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of
the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity
shares held by the shareholders. However, no such prefrential amounts exist currently.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and
other relevant factors, such as supply and demand in the employment market.

The significant actuarial assumptions for the determination of the defined benefit obligations are discount rate and increase
in compensation levels. The sensitivity analysis below have been determined based on reasonably possible changes of the
respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant.

Every percentage point increase / decrease in discount rate will change the gratuity benefit obligation to approximately
? 1,638.21 Million / ? 2,069.91 Million (previous year: ? 1,427.69 Million / ? 1,809.91 million) respectively.

Every percentage point increase / decrease in rate of increase in compensation levels will change the gratuity benefit obligation to
approximately ? 1,999.38 Million / ? 1,696.70 Million (previous year: ? 1,740.00 Million / ? 1,485.70 million) respectively.

Sensitivity analysis for each significant actuarial assumptions namely Discount rate and Salary assumptions have been shown
in the table above at the end of the reporting period, showing how the defined benefit obligation would have been affected
by the changes.

The Mortality and Attrition does not have a significant impact on the Liability, hence are not considered a significant actuarial
assumption for the purpose of Sensitivity analysis.

The assumptions used in preparing the sensitivity analysis is
Discount rate at 1% and -1%

Salary assumption at 1 % and -1%

The method used to calculate the liability in these scenarios is by keeping all the other parameters and the data same as in the
base liability calculation except the parameters to be stressed.

There is no change in the method from the previous period and the points /percentage by which the assumptions are
stressed are same to that in the previous year.

Risk Characteristics of the Defined Benefit Plan
Investment risk

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair
value of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount
rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount
rate during the inter-valuation period.

Market Risk (Interest Rate)

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. The discount
rate reflects the time value of money. An increase in discount rate leads to decrease in Defined Benefit Obligation of the plan
benefits & vice versa. This assumption depends on the yields on the corporate / government bonds and hence the valuation
of liability is exposed to fluctuations in the yields as at the valuation date.

Longevity Risk

The impact of longevity risk will depend on whether the benefits are paid before retirement age or after. Typically for the
benefits paid on or before the retirement age, the longevity risk is not very material.

b) Defined contribution plan - Superannuation Fund

The Company contributed ? 89.39 Million and ? 89.42 Million to superannuation fund during the years ended March
31, 2025 and March 31, 2024 respectively and the same is recognised in the Statement of profit and loss under the head
employee benefit expenses.

c) Defined contribution plan - Provident Fund

Company has certain defined contribution plans. Contributions are made to provident fund for employees @ 12% of Basic
salary as per regulation. 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 period towards defined contribution plan (provident fund) is ? 1,418.48 Million
(Previous year ? 1,383.67 million).

* Fair value hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either
observable or unobservable and consists of the following three levels:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 — Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 — Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in
part using a valuation model based on assumptions that are neither supported by prices from observable current market
transactions in the same instrument nor are they based on available market data. In respect of equity instruments of unlisted
companies, in limited circumstances, insufficient more recent information is available to measure fair value, or if there are
a wide range of possible fair value measurements and cost represents the best estimate of fair value within that range. The
Company recognises such equity instruments at cost, which is considered as appropriate estimate of fair value.

i) The fair value of the quoted bonds and mutual funds are based on price quotations at reporting date.

ii) Mark to market on forward covers and embedded derivative instruments is based on forward exchange rates at the end of
reporting period and discounted using G-sec rate plus applicable spread.

iii) For equity instruments of unlisted companies, in limited circumstances, insufficient more recent information is available
to measure fair value, or if there are a wide range of possible fair value measurements and cost represents the best
estimate of fair value within that range. The Company recognises such equity instruments at cost, which is considered as
appropriate estimate of fair value.

iv) The fair value of contingent consideration related to the acquisition of subsidiaries/ business unit is estimated using

a present value technique. The ? 228.11 Million fair value is estimated by probability-weighting the estimated future cash
outflows adjusting for risk and discounting at incremental borrowing rate for unsecured liabilities at the reporting date.

The probability-weighted cash outflows before discounting are ? 292.40 Million and reflect management’s estimate of
a 90% probability that the contract’s target level will be achieved. The effects on the fair value of risk and uncertainty in
the future cash flows are dealt with by adjusting the estimated cash flows rather than adjusting the discount rate.

Financial risk factors and risk management objectives

The Company’s activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Company’s
focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial
performance. The primary market risk to the Company is foreign exchange risk. The Company uses derivative financial
instruments to mitigate foreign exchange related risk exposures. The use of financial derivatives is governed by the
Company’s policies approved by the Board of Directors which provide written principles on foreign exchange hedging. The
Company’s exposure to credit risk is mainly for receivables that are overdue for more than 90 days. The Credit Task Force is
responsible for credit risk management. Investment of excess liquidity is governed by the Investment policy of the Company.
The Company’s Risk Management Committee monitors risks and policies implemented to mitigate risk exposures

Market risk

Foreign currency risk

The Company operates globally with its operations spread across various geographies and consequently the Company is
exposed to foreign exchange risk. Around 70% to 90% of the Company’s foreign currency exposure is in USD. The Company
holds plain vanilla forward contracts against expected receivables in USD to mitigate the risk of changes in exchange rates.

The following table analyses unhedged foreign currency risk from financial instruments as of March 31, 2025.

Foreign currency sensitivity analysis

For the year ended March 31, 2025 and March 31, 2024 every percentage point depreciation / appreciation in the exchange
rate between the Indian rupee and foreign currencies on foreign currency exposure would affect the Company’s profit before
tax margin (PBT) by approximately 0.21% and 0.31% respectively.

Sensitivity analysis is computed based on the changes in the income and expenses in foreign currency upon conversion into
functional currency, due to exchange rate fluctuations between the previous reporting period and the current reporting period.

Derivative financial instruments

The Company holds derivative foreign currency forward contracts to mitigate the risk of changes in exchange rates on foreign
currency exposures. These derivative financial instruments are valued based on quoted prices for similar assets in active markets
or inputs that are directly or indirectly observable in the marketplace. The Company has designated foreign exchange forward
contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast sales transactions.

Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The maximum exposure
to the credit risk at the reporting date is primarily from trade receivables amounting to ? 17,030.88 Million and ? 17,090.40
Million as at March 31, 2025 and March 31, 2024, respectively. Trade receivables are typically unsecured and are derived
from revenue earned from customers primarily located in the United States. Credit risk is managed by the Company by Credit
Task Force through credit approvals, establishing credit limits and continuously monitoring the recovery status of customers
to which the Company grants credit terms in the normal course of business. On account of adoption of Ind AS 109, the
Company uses expected credit loss model to assess the impairment loss. The Company uses a provisioning policy approved
by the Board of Directors to compute the expected credit loss allowance for trade receivables. The policy takes into account
available external and internal credit risk factors and the Company’s historical experience for customers.

Credit risk is perceived mainly in case of receivables overdue for more than 90 days. The following table gives details of risk
concentration in respect of percentage of receivables overdue for more than 90 days:

Credit risk on cash and cash equivalents is limited as the Company generally invests in deposits with banks and financial
institutions with high credit ratings. Investments primarily include investment in debts mutual funds, quoted bonds.

Liquidity risk

The Company’s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from
operations. The Company has no outstanding bank borrowings. The investment of surplus funds is governed by the
Company’s investment policy approved by the Board of Directors. The Company believes that the working capital is sufficient
to meet its current fund requirements. Accordingly, no liquidity risk is perceived.

As at March 31, 2025, the Company had a working capital of ? 31,733.58 Million including cash and cash equivalents and
current fixed deposits (excluding interest accrued) of ? 6,623.84 Million and current investments of ? 3,335.01 million.

As at March 31, 2024, the Company had a working capital of ? 23,752.07 Million including cash and cash equivalents and
current fixed deposits (excluding interest accrued) of ? 6,398.30 Million and current investments of ? 2,623.06 million.

The Company’s objectives when managing capital is to safeguard continuity, maintain a strong credit rating and healthy
capital ratios in order to support its business and provide adequate return to shareholders through continuing growth. The
Company’s capital management aims to ensure that it maintains a stable capital structure with the focus on total equity to
uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company sets the
amount of capital required on the basis of annual business and long-term operating plans which include capital and other
strategic investments. The funding requirements are met through a mixture of equity, internal fund generation and current and
non-current borrowings.

Notes:

* Amount of remuneration represents remuneration paid through Persistent Systems Limited only.

# The remuneration to the key managerial personnel does not include the provisions made for gratuity, long service awards
and leave benefits, as they are determined on an actuarial basis for the Company as a whole.

Terms and conditions of transactions with related parties:

The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm’s length
transactions. All other outstanding balances at the year-end are unsecured, interest free and settlement occurs in cash. There
have guarantees and letters of comfort provided for subsidiaries. For the year ended 31 March 2025, the Company has not
recorded any impairment of receivables relating to amounts owed by related parties (31 March 2024: Nil).

*No contractual life is defined in the scheme.

**The options under Scheme XI, which is a performance based ESOP scheme will vest after 1-4 years in proportion of credit
points earned by the employees every quarter based on performance. The maximum options which can be granted under this
scheme are 2,800,000.

***The options under Scheme XII, ESOP scheme would vest after 1 year. The maximum options which are granted under this
scheme are 100 per employee.

The vesting period and conditions of the above ESOP schemes is as follows:

All the above ESOP schemes have service condition (other than Grant Category 1 of scheme XI which Is based on
performance criteria), which require the employee to complete a specified period of service, as a vesting condition. The
vesting pattern of various schemes has been provided below:

45. The Company has deposits of ? 408.88 Million (previous year: ? 430.00 Million) with the financial institutions viz.
Infrastructure Leasing & Financial Services Ltd. (IL&FS) and IL&FS Financial Services Ltd. (referred to as “IL&FS Group”)
as on the balance sheet date. These were due for maturity from January 2019 to June 2019. In view of the uncertainty
prevailing with respect to recovery of outstanding balances from IL&FS Group, Management of the Company has
fully provided for these deposits along with interest accrued thereon till the date the deposits had become
doubtful of recovery.

During the year the Company has received ? 21.12 Million from the IL&FS Group and the Management is hopeful
of recovery of balance amount with a time lag. The Company continues to monitor developments in the matter and is
committed to take steps including legal action that may be necessary to ensure full recovery of the said deposits.

46. The Company has been sanctioned a working capital limit in excess of ? 50.00 Million by banks and/or financial
institutions based on the security of current assets. The quarterly returns/statements, in respect of the working capital
limits have been filed by the Company with such banks and/or financial institutions and such returns/statements are in
agreement with the books of account of the Company for the respective periods which were subject to audit, except for
the following:

44. Other statutory information

a. The Company has not been declared a willful defaulter by any bank or financial institution or other lender.

b. The Company does not have any transactions with the companies struck off under section 248 of the Companies Act, 2013.

c. The Company does not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the
statutory period.

d. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of Layers) Rules, 2017

e. The Company does not have any 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).

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

g. There are no proceeding initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

*The difference is on account of exclusion of certain amounts while submitting the details of quarterly statements to the bank

basis discussions with the bank.

47. The Company has not advanced / loaned / invested funds to any entities, including foreign entities (Intermediaries), with
the understanding that the Intermediary shall directly or indirectly lend or invest in other entities by or on behalf of the
Company (Ultimate Beneficiaries). Further, the Company has not provided any guarantee, security to or on behalf of the
Ultimate Beneficiaries.

48. The Company has not received funds from any entities, including foreign entities (Funding Parties), with the
understanding that the Company shall directly or indirectly, lend or invest in other persons or entities by or on behalf of
the Funding Party (Ultimate Beneficiaries). Further, the Company has not provided any guarantee, security on behalf of
the Ultimate Beneficiaries.

49. The Hon’ble National Company Law Tribunal, Mumbai (“NCLT”) has sanctioned the merger of M/s. CAPIOT Software
Private Limited (the Wholly Owned Subsidiary - Transferor Company) into Persistent Systems Limited (the Holding
Company - Transferee Company) through absorption, as per its order dated April 9, 2025. The Company received the
order on April 11, 2025. Further, the said Order will be effective upon submission of its Certified True Copy dated April 21,
2025, to the Registrar of Companies, Pune for updating their records. The financial impact of this merger will be reflected
in the Company’s financial statements for the period following its submission to the ROC.

50. M/s. Arrka Infosec Private Limited, India (a private company incorporated under the Companies Act, 1956) has become
a wholly owned subsidiary of Persistent Systems Limited effective from October 28, 2024, upon completion of the
necessary customary closing conditions.

51. The Board of Directors of the Company at its meeting concluded on April 24, 2025 (IST), approved the proposal of
Merger of M/s. Arrka Infosec Private Limited (‘the Wholly Owned Subsidiary’) into Persistent Systems Limited (‘the
Holding Company’), subject to the receipt of necessary approvals in accordance with the provisions of the Companies
Act, 2013.

52. The Company, through a business transfer agreement dated April 13, 2024, has transferred the UK Branch’s operations to
its wholly owned subsidiary, Persistent Systems UK Limited (‘PSUK’). Under this agreement, the Company has transferred
net assets with carrying value of ? 633.97 Million in exchange for a consideration of ? 969.99 million, resulting in a gain of
? 336.02 Million from the transfer of the business undertaking.

55. During the year ended, the Company has discontinued the policy of Long-Term Service Award to employees which was
to reward employees on reaching significant milestones in terms of number of years of their service. This is in the context
of the coverage of a large number of employees under the Company’s ESOP schemes over the last few years, providing
employees an opportunity to participate in the Company’s growth and value creation. Consequently, the accumulated
provision amounting to ? 506.74 Million has been written back in the Statement of Profit and Loss, and has been reduced
from Employee Benefit Expenses.

56. During the year, the Company has internally reorganized business operations in USA. While, the overall business has
remained consistent for these customers, the reorganisation has resulted in transfer of certain customer contracts and
certain employees, from Persistent Systems, Inc.(US subsidiary) to Persistent Systems Limited (the Holding Company and
its USA branch). As result of the reorganization, the revenue and the profit for the year ended is not comparable with the
previous corresponding year.

57. The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendment Rules, 2021)
which is effective from 1st April 2023, states that every company which uses accounting software for maintaining its
books of account shall use only the accounting software where there is a feature of recording audit trail of each and every
transaction, and further creating an edit log of each change made to books of account along with the date when such
changes were made and ensuring that the audit trail cannot be disabled.

The Company uses a SaaS based ERP as a primary accounting software for maintaining books of account, which has a
feature of recording audit trail edit logs facility and that has been operative throughout the financial year for the
transactions recorded in the software impacting books of account at application as well as database level.

58. The financial statements are presented in ? Million and decimal thereof except for per share information or
as otherwise stated.

59. Previous year’s figures have been regrouped where necessary to conform with the current year’s classification. The
impact of such regrouping is not material to financial statements.

For Walker Chandiok & Co LLP For and on behalf of the Board of Directors of

Chartered Accountants Persistent Systems Limited

Firm Registration No.: 001076N/N500013

Shashi Tadwalkar Dr. Anand Deshpande Sandeep Kalra Praveen Kadle

Partner Chairman and Executive Director and Independent Director

Managing Director Chief Executive Officer

Membership No.: 101797 DIN: 00005721 DIN: 02506494 DIN: 00016814

Place: USA Place: USA Place: USA Place: USA

Date: April 23, 2025 Date: April 23, 2025 Date: April 23, 2025 Date: April 23, 2025

Vinit Teredesai Amit Atre

Executive Director and Company Secretary

Chief Financial Officer

DIN: 03293917 Membership No. A20507

Place: USA Place: USA

Date: April 23, 2025 April 23, 2025