21) Provisions, Contingent Liabilities and Contingent
Assets

a) Provisions

i) Provisions are recognized 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.

Provisions are measured using the cash flows
estimated to settle the present obligation and
when the effect of time value of money is material,
Provisions are determined by discounting the
expected future cash flows (representing the
best estimate of the expenditure required to settle
the present obligation at the balance sheet date)
at a pre-tax rate that reflects current market
assessments of the time value of money and
the risks specific to the liability. The unwinding
of the discount is recognized as finance cost.
Reimbursement expected in respect of expenditure
required to settle a provision is recognized only
when it is virtually certain that the reimbursement
will be received.

ii) Decommissioning Liability

Restoration/ Rehabilitation/ Decommissioning
cost are provided for in the accounting period
when the obligation arises based on the NPV of
the estimated future cost of restoration to be
incurred. It includes the dismantling and demolition
of infrastructure and removal of residual
material. This provision is based on all regulatory
requirements and related estimated cost based on
best available information.

iii) Onerous Contracts

Present obligations arising under onerous contracts
are recognized and measured as provisions. An
onerous contract is considered to exist when a
contract under which the unavoidable costs of
meeting the obligations exceed the economic
benefits expected to be received from it.

b) Contingent Liabilities

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 recognized

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 recognized because it cannot
be measured reliably. The Company does not recognize
a contingent liability but discloses its existence in the
financial statements.

c) Contingent Assets

Contingent assets usually arise from unplanned or other
unexpected events that give rise to the possibility of an
inflow of economic benefits. Contingent Assets are
not recognized though are disclosed, where an inflow of
economic benefits is probable.

22) Operating Segment

The identification of operating segment is consistent
with performance assessment and resource allocation
by the chief operating decision maker. An operating
segment is a component of the Company that
engages in business activities from which it may earn
revenues and incur expenses including revenues and
expenses that relate to transactions with any of the
other components of the Company and for which
discrete financial information is available. All operating
segment's operating results are reviewed regularly by
the chief operating decision maker to make decisions
about resources to be allocated to the segments and
assess their performance.

23) Employee Share based payment

Equity- settled share-based payments to employees
are measured at the fair value of the employee stock
options at the grant date. The fair value of option at the
grant date is expensed over the vesting period with a
corresponding increase in equity as "Employee Stock
Options Account". In case of forfeiture of unvested
option, portion of amount already expensed is reversed.
In a situation where the vested option forfeited or
expires unexercised, the related balance standing to
the credit of the "Employee Stock Options Account"
are transferred to the "General Reserve". When the
options are exercised, the Company issues new equity
shares of the Company of Cl/- each fully paid-up. The
proceeds received and the related balance standing
to credit of the Employee Stock Options Account, are
credited to share capital (nominal value) and Securities
Premium Account.

24) Measurement of Fair Values

A number of the Company's accounting policies and
disclosures require the measurement of fair values, for
both financial and non-financial assets and liabilities.

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:

a) In the principal market for the asset or liability, or

b) I n the absence of a principal market, in the most
advantageous market for the asset or liability.

The principal or the most advantageous market must be
accessible by the Company. The fair value of an asset
or a liability is measured using the assumptions that
market participants would use when pricing the asset
or liability, assuming that market participants act in
their economic best interest. A fair value measurement
of a non-financial asset takes into account a market
participant's ability to generate economic benefits by
using the asset in its highest and best use or by selling it
to another market participant that would use the asset
in its highest and best use.

The Company uses valuation techniques that are
appropriate in the circumstances and for which sufficient
data are available to measure fair value, maximizing the
use of relevant observable inputs and minimizing the
use of unobservable inputs.

25) Non-Current Assets held for sale

The Company classifies non-current assets as held for
sale if their carrying amounts will be recovered principally
through as sale rather than through continuing use of
the assets and actions required to complete such sale
Indicate that it is unlikely that significant changes to the
plan to sell will be made or that the decision to sell will be
withdrawn. Also, such assets are classified as held for
sale only if the management expects to complete the
sale within one year from the date of classification. On-
current assets classified as held for sale are measured
at the lower of their carrying amount and the fair value
less cost to sell. Non-current assets are not depreciated
or amortized.

26) Events after Reporting date

Where events occurring after the Balance Sheet date
provide evidence of conditions that existed at the end
of the reporting period, the impact of such events is
adjusted within the financial statements. Otherwise,
events after the Balance Sheet date of material size or
nature are only disclosed.

27) Research and Development

Expenditure on research is recognized as an expense
when it is incurred. Expenditure on development which
does not meet the criteria for recognition as an intangible
asset is recognized as an expense when it is incurred.

Items of property, plant and equipment and acquired
Intangible Assets utilized for Research and Development
are capitalized and depreciated in accordance with the
policies stated for Property, Plant and Equipment and
Intangible Assets.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows, based on the input that is significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices 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 or indirectly; and

Level 3 — Inputs which are unobservable inputs for the asset or liability.

External valuers are involved for valuation of significant assets & liabilities. Involvement of external valuers is decided by
the management of the company considering the requirements of Ind As and selection criteria include market knowledge,
reputation, independence and whether professional standards are maintained.

42)Financial risk management objectives and policies

The Company's principal financial liabilities other than derivatives comprise long-term and short-term borrowings,
capital creditors and trade and other payables. The main purpose of these financial liabilities is to finance the Company's
operations. The Company's principal financial assets other than derivatives include trade and other receivables, cash and
cash equivalents and deposits that derive directly from its operation.

The Company is exposed to market, credit, liquidity and regulatory risks. The Company does not have any foreign
Currency Liabilities; therefore, the exchange fluctuation risk is negligible. The Company's senior management oversees
the management of these risks. The Board of Directors reviews and agrees policies for managing each of these risks,
which are summarized 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: commodity risk, interest rate risk and foreign
currency risk.

B. Commodity Price Risk

The principal commodity of the company, which is copper, is fully hedged, insulating it from any price risk.

C. Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rate relates
primarily to the Company's operating activities (when revenue or expense is denominated in a foreign currency).
Further, the Company has foreign currency risk on import of input materials, capital commitment and also borrow
funds in foreign currency for its business. The Company evaluates the impact of foreign exchange rate fluctuations
by assessing its exposure to exchange rate risks. Certain transactions of the Company act as a natural hedge as
a portion of both assets and liabilities are denominated in similar foreign currencies, for the remaining exposers to
foreign exchange risks, the Company adopts a policy of selective hedging based on risk perception of management
using derivative, whenever required, to mitigate or eliminate the risks.

D. Interest Rate risk

The Company is exposed to interest rate risk on financial liabilities such as borrowings, both short-term and long¬
term. It maintains a balance of fixed and floating interest rate borrowings and the proportion is determined by
current market interest rates, projected debt servicing capability and view on future interest rates.

E. Credit Risk

Financial Asset of the Company include trade receivables, employee advances and bank deposits which represents
Company's maximum exposure to the credit risk.

With respect to credit exposure from customers, the Company has a procedure in place aiming to minimize collection
losses. Credit Control team assesses the credit quality of the customers, their financial position, past experience
in payment and other relevant factors. The Company's exposure to credit risk is influence mainly by the individual
characteristics of each customer. However, management also considers the factors that may influence the credit
risk of its customer base, including default risk associated with the industry and country in which customers operate.
Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits
are defined in accordance with this assessment. with respect to other financial risk Viz loan and advances, deposit
with government, the credit risk is insignificant since the loans and advances are given to its employees only and
deposits are held with reputable banks. The credit quality of the financial assets is satisfactory, taking into account
the allowance for credit losses.

F. Regulatory Risks

The Company performance may be impacted due to change in Regulatory Environment. The Company is closely
monitoring the regulatory developments and risks thereof and proactively implementing course correction for
proper compliance commensurate with new regulatory requirements.

43)Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital, and all other equity
reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management
is to maximize 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. The Company monitors capital using a gearing ratio, which is net debt divided by total
capital PlusNet debt. The Company includes within net debt, interest bearing loans and borrowings (Excluding Loans
from Holding Co.), trade and other payables, less cash and cash equivalents

In order to achieve this overall objective, the Company's capital management, amongst other things including working
capital management, aims to ensure that it meets financial covenants attached to the interest-bearing loans and
borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the
bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest¬
bearing loans and borrowings in the current period.

45)Other Statutory Information

A. RELATIONSHIP WITH STRUCK OFF COMPANIES

The company do not have any transactions with company's struck off under Section 248 of the Companies Act, 2013 or
Section 560 of the Companies Act, 1956 during the year ended 31^st March, 2025 (Previous year: Nil).

B. DISCLOSURE IN RELATION TO UNDISCLOSED INCOME

The company do not have any such transactions which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year ended 31^st March, 2025 and also for the year ended 31^st March, 2024 in the tax
assessments under Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax
Act, 1961).

C. DETAILS OF BENAMI PROPERTY HELD

The Company do not hold any property under Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made
thereunder, hence there are no proceedings against the company for the year ended 31^st March, 2025 and also for the
year ended 31^st March, 2024.

D. REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRAR OF COMPANIES (ROC)

The Company do not have any charges or satisfaction, which are yet to be registered with ROC beyond the statutory
period, during the year ended 31^st March, 2025 and also during the year ended 31^st March, 2024.

E. DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The company have not traded or invested in crypto currency or virtual currency during the year ended 31^st March, 2025
and also during the year ended 31^st March, 2024.

F. UTILISATION OF BORROWED FUND AND SHARE PREMIUM

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.

G. The Company has not been declared willful defaulter by any bank or financial institution or government or any
government authority.

46) I n respect of Financial Year commencing on or after 01.04.2023,the company has used accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been
in operation throughout the year for all relevant transactions recorded in the software and the audit trail feature has
not been tampered with and the audit trail has been and has been preserved by the company as per the statutory
requirements for record retention.

47) Pursuant to the approval of Board of Directors dated 25^th August 2023 and Shareholder's approval dated 27^th September
2023, a slump sale transaction of the copper business from Bhagyanagar India Limited to Bhagyanagar copper Private
Limited, a wholly owned subsidiary has been executed with effect from 1^st January 2024, therefore the standalone
performance/results of the Company for the quarter and year are not comparable with previous quarters / years.

48) Being Wind Power only reportable Segment, accordingly, Indian Accounting Standard - 108 on 'Operating Segments' is
not applicable in these Standalone Financial Statement.

49) Since the investment made in Surana Electrix Pvt Ltd. and Crescentia Technologies Pvt. Ltd. are transitory in nature
therefore, the investment of C 10.20 lac has been classified under "Current Investment.

50) Previous year's figures have been regrouped and rearranged, wherever found necessary.

Following changes has been done in the comparative period as at March 31, 2024 which is not material qualitatively and
quantitatively to the Company's prior period financial statements.

As per our report of even date attached

For LUHARUKA & ASSOCIATES For and on Behalf of the BOD of

CHARTERED ACCOUNTANTS Bhagyanagar India Limited

Firm Reg No.01882S

Arun Luharuka Devendra Surana Naresh Chand Bhardwaj

Partner Managing Director Whole-time Director

M. No. 021869 DIN : 00077296 DIN: 08761949

Place: Secunderabad Surendra Bhutoria Ritika Tandon

Date : 20.05.2025 Chief Financial Officer Company Secretary

M. No. A32215