1.17 Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a
result of a past event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
When the Company expects some or all of a provision to be reimbursed the reimbursement is
recognised as a separate asset, but only when the reimbursement is virtually certain. The expense
relating to a provision is presented in the statement of profit and loss net of any reimbursement.

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.

1.18 Financial instruments
Initial recognition

The company recognise the financial asset and financial liabilities when it becomes a party to the
contractual provisions of the instruments. All the financial assets and financial liabilities are
recognised at fair value on initial recognition, except for trade receivable which are initially
recognised at transaction price. Transaction cost that are directly attributable to the acquisition of
financial asset and financial liabilities, that are not at fair value through profit and loss, are added to
the fair value on the initial recognition.

Subsequent measurement

(A) Non derivative financial instruments

(i) Financial Assets at amortised cost

A financial assets is measured at the amortised cost if both the following conditions are met :

a) The asset is held within a business model whose objective is to hold assets for collecting
contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company. All the Loans and other receivables underfinancial
assets (except Investments) are non-derivative financial assets with fixed or determinable payments
that are not quoted in an active market. Trade receivables do not carry any interest and are stated at
their nominal value as reduced by impairment amount.

(ii) Financial Assets at Fair Value through Profit or Loss/Other comprehensive income

Instruments included within the FVTPL category are measured at fair value with all changes recognised
in the Statement of Profit and Loss.

If the company decides to classify an instrument as at FVTOCI, then all fair value changes on the
instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from
OCI to P&L, even on sale of investment. However, the company may transfer the cumulative gain or

(iii) Financial liabilities

The measurement of financial liabilities depends on their classification, as described below:

(a) Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at
amortised cost using the effective interest rate (EIR) method. However, the Company has borrowings
at floating rates. Considering the impact of restatement of Effective interest rate, transaction cost is
being amortised over the tenure of loan and borrowing.

(b) Trade & other payables

After initial recognition, trade and other payables maturing within one year from the Balance sheet
date, the carrying amounts approximate fair value due to the short maturity of these instruments.

(B) Derivative financial instruments

The company holds derivatives financial instruments such as foreign exchange forward and option
contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. Company
has taken all the forward contract from the bank.

The company have derivative financial assets/financial liabilities which are not designated as hedges;

Derivatives not designated are initially recognised at the fair value and attributable transaction cost
are recognised in statement of profit and loss, when incurred. Subsequent to initial recognition, these
derivatives are measured at fair value through profit and loss. Asset/Liabilities in this category are
presented as current asset/current liabilities.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled
or expires. When an existing financial liability is replaced by another from the same lender on
substantially different terms, or the terms of an existing liability are substantially modified, such an
exchange or modification is treated as the derecognition of the original liability and the recognition of
a new liability. The difference in the respective carrying amounts is recognised in the statement of
profit or loss.

1.19 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short¬
term deposits, as defined above, as they are considered an integral part of the Company's cash

1.20 Earnings per share

Basic earnings per share is computed by dividing the net profit attributable to equity shareholders for
the year, by the weighted average number of equity shares outstanding during the year, adjusted for
bonus element in equity shares issued during the year.

Diluted earnings per share is computed by dividing the net profit attributable to equity shareholders
for the year, by the weighted average number of equity shares outstanding during the year after giving
effect to all dilutive potential equity shares.

30 Contingent liability

a) As per the opinion of the board, there are no contingent liabilities as at the balance sheet date.

b) The company has reviewed all its pending litigations and proceedings and has adequately provided for where
provisions are required and disclosed as contingent liabilities where applicable, in its Standalone financial statements.
The Board does not expect the outcome of these proceedings to have a materially adverse effect on its financial
position.

c) Capital commitment for value of contracts yet to be executed Rs. Nil (P.Y. Nil)

31 Employee benefit obligations

Since Company does not have minimum no. of employees required to mandatorily attract Employee Benefit
regulations, Company has not provided for the same

35 Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - Inputs 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 for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis as of
31 March 2024:

36 Financial risk management objectives and policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to
set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and
systems are reviewed regularly to reflect changes in market conditions and the Company's activities.

The Management has overall responsibility for the establishment and oversight of the Company's risk management
framework.

In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk
and Market risk.

37 Credit risk on financial assets

Financial assets that are potentially subject to concentrations of credit risk and failures by counterparties to discharge
their obligations in full or in a timely manner consist principally of cash balances with banks, cash equivalents and
receivables, and otherfinancial assets. The maximum exposure to credit risk is: the total of the fairvalue of the financial
instruments and the full amount of any loan payable commitment at the end of the reporting year. Credit risk on cash
balances with banks is limited because the counterparties are entities with acceptable credit ratings. Credit risk on other
financial assets is limited because the other parties are entities with acceptable credit ratings.

With the applicability of Ind AS 109, the recognition and measurement of impairment of financial assets is based on
credit loss assessment by expected credit loss (ECL) model. The ECL assessment involve significant management
judgement. The Company's impairment allowance is derived from estimates including the historical default and loss
ratios. Management exercises judgement in determining the quantum of loss based on a range of factors, like staging
criteria, calculation of probability of default / loss and consideration of probability weighted scenarios and forward
looking macroeconomic factors.

The board acknowledges and understands that these factors, since there is a large increase in the data inputs required
by the ECL model, which increases the risk of completeness and accuracy of the data that has been used to create
assumptions in the model. Based on the internal management analysis, as per Board Opinion, there is no requirement
of provision for expected credit loss in several financial assets including the trade receivables and other receivables of
the Company and all are on fair value, based on the assessment and judgement made by the board of the company.

In the opinion of management, trade receivable, Financial assets, Cash and cash equivalent, Balance with Bank, Loans
and other financial assets have a value on realisation in the ordinary course of business atleast equal to the amount at
which they are stated in the balance sheet.

39 Market risk -

Market risk is the risk that changes in market prices - such as foreign exchange rates and interest rates - will affect the
Company's income or the value of its holdings of financial instruments. Market risk is attributable to all market risk
sensitive financial instruments including foreign currency receivables and payables and long term debt. We are exposed
to market risk primarily related to foreign exchange rate risk and interest rate risk. Thus, our exposure to market risk is a
function of revenue generating and operating activities in foreign currency. The objective of market risk management is
to avoid excessive exposure in our foreign currency revenues and costs.

40 Foreign currency risk

The Company is exposed to currency risk on account of its receivables and advances in foreign currency. The functional
currency of the Company is Indian Rupee. The Company does not use forward exchange contracts to hedge its currency
risk.

41 Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is
the risk of changes in fair values of fixed interest bearing finacial instruments because of fluctuations in the interest
rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing financial instruments
will fluctuate because of fluctuations in the interest rates.

Company has interest rate risk exposure mainly from changes in rate of interest on borrowing & on deposit with bank.
The interest rate are disclosed in the respective notes to the Standalone financial statements of the Company.

42 Fair value sensitivity analysis for fixed-rate instruments

The Company does not account for any fixed-rate financial assets or financial liabilities at fair value through profit or
loss. Therefore, a change in interest rates at the reporting date would not affect profit or loss.

43 Cash flow sensitivity analysis for variable-rate instruments -

The company does not have any financial assets or financial liabilities bearing floating interest rates. Therefore, a
change in interest rates at the reporting date would not affect profit or loss.

44 Liquidity risk -

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations
without incurring unacceptable losses. The Company's objective is to, at all times maintain optimum levels of liquidity
to meet its cash and collateral requirements. The Company closely monitors its liquidity position and deploys a robust
cash management system. It maintains adequate sources of financing including debt and overdraft from banks at an
optimised cost.

The Company maximum exposure to credit risk for the components of the balance sheet at 31 March 2024 and 31 March
2023 is the carrying amounts. The liquidity risk is managed on the basis of expected maturity dates of the financial
liabilities. The average credit period taken to settle trade payables is about 90 days. The other payables are with short¬
term durations. The carrying amounts are assumed to be a reasonable approximation of fair value. The following table
analysis financial liabilities by remaining contractual maturities:

For the purpose of the Company's capital management, capital includes issued equity capital, share premium and all
other equity reserves attributable to the equity holders of the parent. The primary objective of the Company's capital
management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the
dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital
using a gearing ratio, which is net debt divided by total capital plus net debt. The Company's policy is to keep optimum
gearing ratio. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables,
less cash and cash equivalents, excluding discontinued operations.

Applicable statutory tax rate for financial year 2023-24 is 25.168%

The company offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax
assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied
by the same tax authority.

Significant management judgement is required in determining provision for income tax, deferred income tax assets
and liabilities and recoverability of deferred income tax assets. The recoverability of deferred income tax assets is
based on estimates of taxable income by each jurisdiction in which the relevant entity operates and the period over
which deferred income tax assets will be recovered.

The company has majorly deployed a part of its assets as Inter-Corporate Deposit to other entities as represented in
Note No. 5 in the financial statements, the management is in the Process of identifying better business opportunity
and in the meantime, to generate returns from idle funds, these funds have been invested in interest-bearing
assets, against which the company has also received interest income during the year. Howeveras perthe opinion of
the Board of Directors, the company is not intending to engage into non-banking financing activities, and not
required to get registered with Reserve Bank of India as Non Banking Financing Company under Section 45-IA of the
Reserve Bank of India Act 1934, as said funds are deployed for core business objectives of the company

Estimates

The estimates at 31 March 2024 and at 31 March 2023 are consistent with those made for the same dates in
accordance with Ind AS (after adjustments to reflect any differences in accounting policies).

Balance of Receivables and Payables, including loans , deposits & trade advances given, Borrowings, trade
receivables, payable to vendors, Trade Advances received, Advance From Debtors, etc, are subject to confirmation
and consequent reconciliation and adjustments, if any. Further the impairment provision fortrade advances given,
trade receivables, etc. are subject to documentation of the informal updation in terms of advances. Hence, the
effect thereof, on Profit/ Loss, Assets and Liabilities, if any, is not ascertainable, which may be considerable. As per
the opinion of the Board, there will be no substantial impact on their reconciliation with their balance confirmations
as on the reporting date.

During the financial year 2023-2024, the company has written off an amount of Rs 35.46 lacs, represented as Other
Expenses under Note No 28 to the Financial Statements, which represents debts not recoverable and hence written
off.

There was no impairment loss on the fixed assets on the basis of review carried out by the management in
accordance with Indian Accounting Standard (Ind AS)-36 'Impairment of Assets.

Lease disclosure

The company has not entered into any agreement for obtaining any premises on rent (which is in nature of
operating leases). However if entered amount paid/payable in respect of such leases will be charged to profit and
loss on accrual basis over the peirod of lease.

Earnings per share

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted
average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders 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.

54 The Company has not entered into transactions which are termed "Specified Domestic Transaction" as per Section
92BA of the Income Tax-Act, 1961. Accordingly, it is not required to comply with transfer pricing regulations under
Section 92 to Section 92F of the Act.

55 The Company has an informal process of obtaining confirmations from the vendors to record whether they are
covered under Micro, Small and Medium Enterprise Development Act 2006 as well as they have filed required
memorandum with prescribed authority. Based on and to the extent of the information received by the Company
from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006
(MSMED Act) and relied upon by the auditors, the relevant particulars as at the year end are furnished below:

56 During the previous year, the company has carried out the enhanced physical verification of item wise fixed assets
of the company across its offices located at several locations. Based on such verification, various items of fixed
assets appearing in the fixed assets register of the company, which were not found physically available, were
eliminated from the register. Since these items of assets were fully depreciated and not having any scrap value, the
management has estimated no impact of such deletion on the financial position and going concern position of the
company.

57 Revaluation/ Fair valuation of PPE / Intangible assets/ Investment property

Since there is no Property, Plant and Equipment (including Right-of-Use Assets) and intangible assets held by the
company during the year, the requirement of reporting regarding any revaluation of the same is not applicable to
the company. The company also does not have any Investment property during the current year as well as previous
year.

58 Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

The Company do not have any benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.

59 Wilful Defaulter

The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

60 Misutilisation of Bank Borrowing

The company has not taken any borrowings from banks and financial institutions during the current year as well as
previous year.

61 Disclosure of transactions with struck off companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies
Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

62 Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by/ pending with the Competent Authority in terms of sections 230
to 237 of the Companies Act, 2013 during the year as well as previous year

63 Undisclosed Income

The Company have 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).

64 Compliance with number of layers of companies

The compliance of number of layers of companies, prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017, are not applicable to the company

65 Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the current financial year and
any of the previous financial years.

66 Security of current assets against borrowings

The Company has no borrowings from banks or financial institutions on the basis of security of current assets.

67 Utilisation of Borrowed funds and share premium:

(A) During the year, the company has 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:

(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)

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(B) During the year, the Company has 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:

(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)

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

68 Registration of charges or satisfaction of charges with Registrar of Companies (ROC)

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

Note:

1. Total Debt = Long term Borrowings (including current maturities of Long term Borrowings), lease liabilities (current
and non-current), short term borrowings and Interest accrued on Debts

2. Earning for Debt Service = Net Profit after taxes Non-cash operating expenses like depreciation and other
amortizations Interest other adjustments like loss on sale of Fixed assets etc.

3. Debt service = Interest & Lease Payments Principal Repayments

4. Avg. Shareholder's Equity = Average of Opening Total Equity and Closing Total Equity excluding revaluation reserve

5. Average Inventory = Average of Opening Inventory and Closing Inventory

6. Average Trade Receivable = Average of Opening Trade Receivables and Closing Trade Receivables

7. Average Trade Payables = Average of Opening Trade Payables and Closing Trade Payables

8. Working capital shall be calculated as current assets minus current liabilities

9. EBIT = Earning before interest and taxes

10. Capital Employed = Tangible Net Worth (excluding revaluation reserve) Total Debt Deferred Tax Liability

11. Average Total Assets = Average of Opening Total Assets and Closing Total Assets excluding revaluation impact

76 These financial statements are presented in Indian Rupees (INR), which is also its functional currency and all values are rounded
to the nearest Lakhs, except when otherwise indicated. The amounts which are less than Rs. 0.01 Lakhs are shown as Rs 0.00 Lakhs.

77 Previous year's figures have been regrouped or reclassifed wherever necessary.

For Parekh Shah & Lodha For and on behalf of the Board of Director

Chartered Accountants VCU Data Management Limited

( Firm Reg. No. 107487W)

sd/- sd/-

sd/- Harsha Singh Shripal Bafna

CA Pranay Bhutra (Managing Director) (Whole Time Director)

(Partner) DIN: 10425756 DIN: 06489822

M.No. 623927

UDIN: 24623927BKEWYR6294 sd/-

Place : Mumbai Ashok Khorwal

Date: 30-05-2024 Chief Financial Officer

Place : Mumbai
Date: 30-05-2024