(xviii) Provisions, Contingent Liabilities and
Contingent Assets:

The amount recognised as a provision is the best estimate
of the consideration required to settle the present
obligation at the end of the reporting period, taking into
account the risks and uncertainties surrounding the
obligation. 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. When the Company expects some or all of
a provision to be reimbursed, for example, under an
insurance contract, 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. The unwinding of the discount is
recognised as finance cost. Expected future operating
losses are not provided for. 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 or a reliable estimate of amount
cannot be made.

Contingent liabilities may arise from litigation, taxation
and other claims against the Company. The contingent
liabilities are disclosed where it is management’s
assessment that the outcome of any litigation and other
claims against the Company is uncertain or cannot be
reliably quantified, unless the likelihood of an adverse
outcome is remote.

A contingent liability recognised in a business
combination is initially measured at its fair value.
Subsequently, it is measured at the higher of the
amount that would be recognised in accordance with

the requirements for provisions above or the amount
initially recognised less, when appropriate, cumulative
amortisation recognised in accordance with the
requirements for revenue recognition.

Contingent assets are not recognised but are disclosed
in the notes where an inflow of economic benefits is
probable.

The company has the policy to provide interest on
delayed payments to MSME vendors as per the provisions
of Section 16 of the MSME Act, 2006. Accordingly, the
company recognizes the interest liability only when a
present obligation exists on account of the demand
raised by the vendor or when it is probable that the
interest is required to be paid. On the basis of the past
experience and published policies of the company, if
there is no constructive obligation in respect of the
probable outflow of the interest payment, the same is
disclosed as contingent liability.

(xix) Impairment of non-financial assets:

The Company reviews the carrying amounts of non¬
financial assets to determine whether there is any
indication that those assets have suffered an impairment
loss. If any such indication exists, the recoverable
amount of the asset is estimated in order to determine
the extent of the impairment loss (if any). When it is
not possible to estimate the recoverable amount of an
individual asset, the Company estimates the recoverable
amount of the cash-generating unit to which the asset
belongs. Each CGU represents the smallest Group
of assets that generates cash inflows that are largely
independent of the cash inflows of other assets or CGUs.
When a reasonable and consistent basis of allocation
can be identified, corporate assets are also allocated to
individual cash-generating units, or otherwise they are
allocated to the smallest group of cash-generating units
for which a reasonable and consistent allocation basis
can be identified.

The Company bases its impairment calculation on
detailed budget and forecast calculations, which are
prepared separately for each of the Company’s cash¬
generating unit to which the individual assets are
allocated. For longer periods, a long term growth rate is
calculated and applied to project future cash flows. To
estimate cash flow projections beyond periods covered
by the most recent budget/forecasts, the Company
estimates cash flow projections based on estimated
growth rate.

If the recoverable amount of an asset (or cash-generating
unit) is estimated to be less than its carrying amount, the
carrying amount of the asset (or CGU) is reduced to its
recoverable amount. An impairment loss is recognised
immediately in the Statement of Profit and Loss.

(xx) Earnings per share:

Basic earnings per equity share is computed by dividing
the net profit/(loss) attributable to the equity holders
of the Company by the weighted average number of
equity shares outstanding during the period. Diluted
earnings per equity share is computed by dividing the
net profit/(Loss) attributable to the equity holders of the
Company by the weighted average number of equity
shares considered for deriving basic earnings per equity
share and also the weighted average number of equity
shares that could have been issued upon conversion of
all dilutive potential equity shares. The dilutive potential
equity shares are adjusted for the proceeds receivable
had the equity shares been actually issued at fair value
(i.e. the average market value of the outstanding equity
shares). Dilutive potential equity shares are deemed
converted as of the beginning of the period, unless
issued at a later date. Dilutive potential equity shares are
determined independently for each period presented.
The number of equity shares and potentially dilutive
equity shares are adjusted retrospectively for all periods
presented for any share splits and bonus shares issues
including for changes effected prior to the approval
of the standalone financial statements by the Board
of Directors.

(xxi) Dividend distribution to equity shareholders
of the Company:

The Company recognises a liability to make dividend
distributions to its equity holders when the distribution
is authorised and the distribution is no longer at its
discretion. A corresponding amount is recognised
directly in equity.

(xxii) Cash Flow Statement:

Cash flows are reported using the indirect method,
whereby profit for the period 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
Group are segregated.

(xxiii) Segment Reporting:

Operating segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker.

• Identification of segments:

In accordance with Ind AS 108- Operating
Segment, the operating segments used to
present segment information are identified on the

basis of information reviewed by the Company’s
management to allocate resources to the segments
and assess their performance. An operating
segment is a component of the Company that
engages in business activities from which it earns
revenues and incurs expenses, including revenues
and expenses that relate to transactions with any
of the Company’s other components. Results of
the operating segments are reviewed regularly
by the management team (chairman and chief
financial officer) which has been identified as the
chief operating decision maker (CODM), to make
decisions about resources to be allocated to the
segment and assess its performance and for which
discrete financial information is available.

• Allocation of common costs:

Common allocable costs are allocated to each
segment accordingly to the relative contribution of
each segment to the total common costs.

• Unallocated Items:

Revenues and expenses, which relate to the
Company as a whole and are not allocable to
segments on a reasonable basis, have been included
under "Unallocated corporate expenses”. Assets and
liabilities, which relate to the Company as a whole
and are not allocable to segments on reasonable
basis, are shown as unallocated corporate assets
and liabilities respectively.

• Segment Accounting Policies:

The Company prepares its segment information in
conformity with the accounting policies adopted
for preparing and presenting the financial
statements of the Company as a whole.

(xxiv) Investments in subsidiaries, associates and
joint ventures:

Investments in Subsidiaries, Associates and Joint
Ventures are carried at cost less accumulated impairment
losses, if any. Where an indication of impairment exists,
the carrying amount of the investment is assessed and
written down immediately to its recoverable amount.
On disposal of investments in subsidiaries, associates
and joint venture, the difference between net disposal
proceeds and the carrying amounts are recognised in
the Statement of Profit and Loss.

(xxv) Cash and Cash Equivalents:

Cash and cash equivalent in the balance sheet comprise
cash at banks and on hand and short-term deposits with
an original maturity of three months or less, which are
subject to an insignificant risk of changes in value.

(xxvi) Translation of Foreign Currency
Transactions:

In preparing the financial statements of the company,
transactions in currencies other than the entity's
functional currency (foreign currencies) are recognized
at the rates of exchange prevailing at the dates of the
transactions. At the end of each reporting period,
monetary items denominated in foreign currencies
are retranslated at the rates prevailing at that date.
Non-monetary items carried at fair value that are
denominated in foreign currencies are retranslated at
the rates prevailing at the date when the fair value was
determined. Non-monetary items that are measured
in terms of historical cost in a foreign currency are not
retranslated. Exchange differences on monetary items
are recognized in profit or loss in the period in which
they arise.

(xxvii) Exceptional items:

Exceptional items refer to items of income or expense,
within the statement of profit and loss from ordinary
activities which are non-recurring and are of such size,
nature or incidence that their separate disclosure is
considered necessary to explain the performance of the
company.

2.3 Use of estimates and judgements:

The preparation of the Company’s financial statements
requires management to make judgments, estimates
and assumptions that affect the reported amounts
of revenues, expenses, assets and liabilities, and the
accompanying disclosures including contingent
liabilities. The estimates and associated assumptions
are based on experience and other factors that
management considers to be relevant. Actual results
may significantly differ from these estimates. The
estimates and underlying assumptions are reviewed on
an ongoing basis by the management of the Company.
Revisions to accounting estimates are recognised in the
period in which the estimate is revised if the revision
affects only that period, or in the period of the revision
and future periods if the revision affects both current and
future periods. Uncertainty about these assumptions
and estimates could result in outcomes that require a
material adjustment to the carrying amount of assets or
liabilities affected in future periods.

Key Sources of Estimation uncertainty:

The key assumptions concerning the future and other
key sources of estimation uncertainty and judgements
at the reporting date, that have a significant risk of
causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year,
are described below. Existing circumstances and
assumptions about future developments may change

due to market changes or circumstances arising that are
beyond the control of the Company. Such changes are
reflected in the assumptions when they occur.

a. Useful lives and residual value of property, plant
and equipment

In case of the wind power generation equipment and
plant and equipment for development of solar park
facilities at different location (assets), in whose case the
life of the assets has been estimated at 25 years based on
technical assessment, taking into account the nature of
the assets, the estimated usage of the asset, the operating
condition of the asset, anticipated technological changes,
manufacturer warranties and maintenance support,
except for some major components identified during the
year, depreciation on the same is provided based on the
useful life of each such component based on technical
assessment, if materially different from that of the
main asset.

b. Fair value measurement of financial instruments

In estimating the fair value of financial assets and
financial liabilities, the Company uses market observable
data to the extent available. Where such Level 1 inputs
are not available, the Company establishes appropriate
valuation techniques and inputs to the model. The
inputs to these models are taken from observable
markets where possible, but where this is not feasible,
a degree of judgment is required in establishing fair
values. Judgments include considerations of inputs
such as liquidity risk, credit risk and volatility. Changes
in assumptions about these factors could affect the
reported fair value of financial instruments.

All assets and liabilities for which fair value is measured
or disclosed in the 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) market 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.

c. Defined benefit plans (gratuity benefits)

The cost of the defined benefit gratuity plan and the
present value of the gratuity obligation are determined
using actuarial valuations. An actuarial valuation
involves making various assumptions that may differ
from actual developments in the future. These include

the determination of the discount rate, future salary
increases and mortality rates. Due to the complexities
involved in the valuation and its long-term nature, a
defined benefit obligation is highly sensitive to changes
in these assumptions. All assumptions are reviewed at
each reporting date.

d. Taxes

Significant management judgment is required to
determine the amount of deferred tax assets that can
be recognised, based upon the likely timing and the
level of future taxable profits together with future tax
planning strategies and future recoverability of deferred
tax assets. The amount of the deferred income tax assets
considered realisable could reduce if the estimates of
the future taxable income are reduced. In assessing the
recoverability of deferred tax assets, the Company relies
on the same forecast assumptions used elsewhere in the
financial statements.

e. Impairment of non-financial assets

For determining whether property, plant and equipment
are impaired, it requires an estimation of the value in use
of the relevant cash generating units. The value in use
calculation is based on a Discounted Cash Flow model
over the estimated useful life of the Power Plants. Further,
the cash flow projections are based on estimates and
assumptions relating to tariff, operational performance
of the Plants, life extension plans, exchange variations,
inflation, terminal value etc. which are considered
reasonable by the Management.

f. Impairment of financial assets

The impairment provisions for trade receivables
are made considering simplified approach based
on assumptions about risk of default and expected
loss rates. The Company uses judgement in making
these assumptions and selecting the inputs to the
impairment calculation based on the Company’s
past history and other factors at the end of each
reporting period. In case of other financial assets, the
Company applies general approach for recognition
of impairment losses wherein the Company uses
judgement in considering the probability of default
upon initial recognition and whether there has been a
significant increase in credit risk on an ongoing basis
throughout each reporting period.

g. Recognition and measurement of provision and
contingency

The Company recognises a provision if it is probable
that an outflow of cash or other economic resources will
be required to settle the provision. If an outflow is not
probable, the item is treated as a contingent liability.
Risks and uncertainties are taken into account in
measuring a provision.

h. Identification of a lease

Management assesses applicability of Ind AS 116 -
‘Leases’, for PPAs. In assessing the applicability, the
management exercises judgement in relation to the
underlying rights and risks related to operations of the
plant, control over design of the plant etc., in concluding
that the PPA do not meet the criteria for recognition
as a lease.

i. Leases- estimating the incremental borrowing
rate

The Company cannot readily determine the interest rate
implicit in the lease, therefore, it uses its incremental
borrowing rate (IBR) to measure lease liabilities. The
IBR is the rate of interest that the Company would
have to pay to borrow over a similar term, and with a
similar security, the funds necessary to obtain an asset
of a similar value to the right-of-use asset in a similar
economic environment. The IBR therefore reflects
what the Company ‘would have to pay’, which requires
estimation when no observable rates are available or
when they need to be adjusted to reflect the terms and
conditions of the lease. The Company estimates the IBR
using observable inputs (such as market interest rates)
when available and is required to make certain entity-
specific estimates.

2.4 Recent accounting pronouncements:

Ministry of Corporate Affairs ("MCA”) notifies new
standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules
as issued from time to time. For the year ended March
31, 2025, MCA has notified Ind AS - 117 Insurance
Contracts and amendments to Ind AS 116 - Leases,
relating to sale and leaseback transactions, applicable
to the Company w.e.f. April 1, 2024. The Company has
reviewed the new pronouncements and based on its
evaluation has determined that it does not have any
significant impact in its financial statements.

Terms/Rights Attached to Equity Shares

The Company has only one class of equity shares having a par value of ' 5 each. Each holder of equity shares is entitled
to one vote per share.

In the event of liquidation of the Company, the holder 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.

During the year ended March 31, 2025 the company has issued 6,56,30,202 bonus shares in the ratio of 1:2 and
6,02,82,608 shares split in the ratio of 1:1

Details of Convertible Securities:

The company has not issued any securities convertible into equity or preference shares.

Details of Shares Reserved for Employees Stock Options:

During the year equity shares of the company have been granted to the employees of the company and to the
employees of its subsidiaries companies- (i) KPIG Energia Private Limited and (ii) Sun Drops Energia Private Limited
based on the group equity settled share based payment scheme KPI GREEN-ESOP 2023. Equity shares of the
company will vest from time to time on the basis of performance and other eligibility criteria. During the year the
company has not issued any shares under ESOP plan.

(i) Securities Premium is used to record the issue of bonus shares and is utilised in accordance with the provisions
of the Companies Act, 2013.

(ii) Retained Earnings are the profits of the Company earned till date net of appropriations.

(iii) The Board of Directors at its meeting held on 21^th August, 2024, 14^th November, 2024 and 18^th February, 2025
has declared an interim dividend at ' 0.20 per share, ' 0.20 per share and ' 0.20 per share respectively for
the F.Y. 2024-2025 and ' 0.20 per share as final dividend for FY 2023-24 at its annual general meeting on
25^th September, 2024 which has been paid by the company during the year. The company has proposed final
dividend of ' 0.20 per share for financial year under reporting.This proposed dividend is subject to the approval
of shareholders in the ensuing annual general meeting.

(iv) During the year equity shares of the company have been granted to the employees of the company and to
the employees of its subsidiaries companies- (i) KPIG Energia Private Limited and (ii) Sun Drops Energia Private
Limited based on the group equity settled share based payment scheme KPI GREEN-ESOP 2023. Equity shares
of the company will vest from time to time on the basis of performance and other eligibility criteria.

The OD from Bombay Mercantile Co. Op. Bank of ' 95
Lakhs was granted against pledge of term deposit of ' 1
Crore.

The CC from State Bank of India is secured by
hypothecation charge over the entire current assets of
the company both present and future comprising of raw
materials, semi-finished goods, finished goods, stock in
progress, stores and spare, receivables and entire cash
flows of the company.

The CC from Yes Bank was secured by first pari passu
charge by way of hypothecation on current asset both
present and future, unconditional and irrevocable
personal gurrantee of Farukbhai Patel till the tenor of
facility and Fixed Deposit-10% margin to be lien marked
upfront.

The CC from RBL Bank Is secured by First Pari passu
charge on all current assets of the company, both
present and future, 25% cash margin in the form of
FD to be placed with RBL Bank on pro rata basis and
Unconditional and irrevocable personal guarantee of
Mr. Faruk Patel.

The CC from ICICI Bank was secured by collateral security
of fixed deposit of ' 105 million, First pari passu charge
on the current assets of the company and personal
guarantee of Mr. Faruk Patel.

The CC from PNB Bank is secured by first pari passu
basis with other lenders on entire current assets, present
and future, including entrie stocks, book debts, loan and
advances etc. under multiple advances, first charge to be
held on pari pasu basis with other banks and collateral of
FD of ' 0.80 Crores.

The CC from KotaK Bank is secured by first pari passu
hypothecation charge to be shared with SBI, ICICI, and
RBL Bank/s on all existing and future current assets of
the borrower. Lien on FD of the borrower at 15% of the
total sanctioned amount and also personal guarantee of
Faruk Patel and Sohil Dabhoya.

The CC from KVB Bank is secured by First Paripassu
charge by way of Hypothecation of entire Current assets
including Stocks & Receivables both present and future
along with State Bank of India, Ratnakar Bank Limited
(RBL) and ICICI Bank Ltd, Collateral cover of 10% i.e., Lien
over FD & also personal guarantee of Mr. Faruk Patel and
Sohil Dabhoya.

The CC from HDFC Bank is secured by 10% cash
margin upfront upto 25 Crores and 20% cash margin
on remaining 45 Crores, first pari passu charge on all
current and future assets including stock and book debt
and also personal guarantee of Mr. Faruk Patel and Sohil
Dabhoya.

(i) The company has taken xerox machine on lease which is treated as a low value asset as per the exemption given
by IND AS 116 on Leases and hence the rent charged on same ' 2.79 Lakhs (1.08 Lakhs) have been debited to
Profit & Loss Account.

(ii) The company has taken hotels and guest houses on lease on temporary basis for short term accomodation of
their site personnel and for employees during travelling for work purposes. Since, the same are for a period of less
than 12 months, they have been treated as short -term leases as per the exemption given by IND AS 116 and
accordingly the rent of ' 155.87 Lakhs (26.51 Lakhs) is debited to Profit & Loss Account.

Investment in equity instruments of subsidiaries, joint ventures and associates has been accounted at cost in
accordance with Ind AS 27. Therefore not within the scope of Ind AS 109, hence not included here.

ii) Fair values hierarchy

Financial assets and financial liabilities measured at fair value in the balance sheet are categorized into three levels of
fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement,
as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data rely as little as possible on entity specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included
in level 3.

(ii) All the other long term borrowing facilities availed by the Company are variable rate facilities which are subject
to changes in underlying Interest rate indices. Further, the credit spread on these facilities are subject to change
with changes in Company’s creditworthiness. The management believes that the current rate of interest on these
loans are in close approximation from market rates applicable to the Company. Therefore, the management
estimates that the fair value of these borrowings are approximate to their respective carrying values.

46.1 FINANCIAL RISK MANAGEMENT
(i) Risk management framework

The Company’s activities expose it to market risk, liquidity risk and credit risk. This note explains the sources of risk
which the Company is exposed to and how the Company manages the risk and the related impact in the financial
statements.

The Company’s risk management is carried out by a
central treasury department (of the Company) under
policies approved by the board of directors. The board
of directors provides written principles for overall risk
management, as well as policies covering specific areas,
such as interest rate risk, credit risk and investment of
excess liquidity.

A) Credit risk

Credit risk is the risk of financial loss to the Company if a
customer or counterparty to a financial instrument fails
to meet its contractual obligations, and arises principally
from the Company’s receivables from customers and
investments in debt securities.

The carrying amount of financial assets represents the
maximum credit exposure:

- cash and cash equivalents,

- trade receivables,

- loans & receivables carried at amortised cost, and

- deposits with banks

a) Credit risk management

The Company assesses and manages credit risk based on
internal credit rating system, continuously monitoring
defaults of customers and other counterparties,
identified either individually or by the company, and
incorporates this information into its credit risk controls.
Internal credit rating is performed for each class of
financial instruments with different characteristics. The
Company assigns the following credit ratings to each
class of financial assets based on the assumptions,
inputs and factors specific to the class of financial assets.

Cash and cash equivalents and other bank balances

Credit risk related to cash and cash equivalents and bank
deposits is managed by only accepting highly rated
banks and diversifying bank deposits and accounts in
different banks.

Trade receivables

The Company closely monitors the credit-worthiness of
the debtors through internal systems that are configured
to define credit limits of customers, thereby, limiting the
credit risk to pre-calculated amounts. The Company
assesses increase in credit risk on an ongoing basis for
amounts receivable that become past due and default is
considered to have occurred when amounts receivable
become past due one year.

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost
includes loans and advances to employees and others,
deposits and other recoverable. Credit risk related to
these other financial assets is managed by monitoring
the recoverability of such amounts continuously, while
at the same time internal control system in place ensure
the amounts are within defined limits.

B) Liquidity risk

Prudent liquidity risk management implies maintaining
sufficient cash and marketable securities and the
availability of funding through an adequate amount of
committed credit facilities to meet obligations when
due. Due to the nature of the business, the Company
maintains flexibility in funding by maintaining availability
under committed facilities. Management monitors
rolling forecasts of the Company’s liquidity position and
cash and cash equivalents on the basis of expected cash
flows. The Company takes into account the liquidity of
the market in which the company operates.

Maturities of financial liabilities

The tables below analyze the Company’s financial
liabilities into relevant maturity of the Company based
on their contractual maturities for all non-derivative
financial liabilities.

The amounts disclosed in the table are the contractual
undiscounted cash flows. Balances due within 12
months equal their carrying balances as the impact of
discounting is not significant.

ii) Assets

The Company’s fixed deposits are carried at amortised
cost and are fixed rate deposits. They are therefore not
subject to interest rate risk as defined in Ind AS 107,
since neither the carrying amount nor the future cash
flows will fluctuate because of a change in market
interest rates.

c) Price risk
Exposure

The Company’s exposure price risk arises from
investments held and classified in the balance sheet
either as fair value through other comprehensive income
or at fair value through profit or loss. To manage the price
risk arising from investments, the Company diversifies
its portfolio of assets.

The Company does not have any significant
investments in equity instruments which create an
exposure to price risk.

46.2 CAPITAL MANAGEMENT

The Company’s capital management objectives are:

- to ensure the Company’s ability to continue as a
going concern;

- to provide an adequate return to shareholders.

The Company monitors capital on the basis of the
carrying amount of equity less cash and cash equivalents
and other bank balances as presented on the face of
balance sheet.

Management assesses the Company’s capital
requirements in order to maintain an efficient overall
financing structure while avoiding excessive leverage.
This takes into account the subordination levels of
the Company’s various classes of debt. The Company
manages the capital structure and makes adjustments
to it in the light of changes in economic conditions
and the risk characteristics of the underlying assets. In
order to maintain or adjust the capital structure, the
Company may adjust the amount of dividends paid to
shareholders, return capital to shareholders, issue new
shares, or sell assets to reduce debt.

Notes: The Company has filed an appeal before the Appellate authorities in respect of the disputed matter under the
Income Tax Act, 1961 and the appeals are pending with the appellate authority. Considering the facts of the matters
and other legal pronouncements of jurisdictional HC, no provision is considered necessary by the management
because the management is hopeful that the matter would be decided in favour of the Company in the light of the
legal advice obtained by the company. Amount shown as deducted in the brackets are the amounts paid against
the demand raised by the Income Tax Department in the Scrutiny assessment. Net amount is shown as Contingent
liabilities not provided for.

The company has entered into the transactions with the vendors who were registered under the MSME Act, 2006.
Out of these vendors, the company has identified some vendors in whose case the payment was delayed beyond
the appointed date and accordingly interest is payable as per the provisions of Section 16 of the MSME Act, 2006.
However, the said vendors have not demanded any interest on delayed payments during the year nor till the date of
reporting and hence no provision has been made in the standalone financial statements since there is no constructive
obligation in respect of the probable outflow of interest payment.

51. EMPLOYEE BENEFIT PLANS
Defined Contribution Plans:

The Company makes specified monthly contributions towards employee provident fund to Government administered
provident fund scheme which is a defined contribution plan. The Company’s contribution is recognized as an expense
in the statement of profit and loss during the period in which the employee renders the related service.

The amount recognized as an expense towards contribution to provident fund for the year aggregated to ' 69.76
Lakhs (' 28.72 Lakhs).

The amount recognised as an expense towards contribution to ESI for the year aggregated to ' 1.63 Lakhs
(' 1.03 Lakhs).

Company adopted Indian Accounting Standard 19 "Employee Benefits” (‘IND AS 19’) as specified in Rule 7 of the
Companies (Accounts) Rules, 2014.

Defined Benefit Plans:

The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which
provides a lump sum payment to vested employees at retirement, death, incapacitation or termination
of employment, of an amount based on the respective employee’s salary and the tenure of employment.
The Company has a defined benefit gratuity plan (unfunded) and is governed by the Payment of Gratuity Act, 1972.
Under the Act, every employee who has completed at least five year of service is entitled to gratuity benefits on
departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded.

The sensitivity analysis 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.

The sensitivity analysis presented above may not be
representative of the actual change in the Defined
Benefit Obligation as it is unlikely that the change in
assumptions would occur in isolation of one another as
some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis,
the present value of the Defined Benefit Obligation has
been calculated using the projected unit credit method
at the end of the reporting period,which is the same
method as applied in calculating the Defined Benefit
Obligation as recognised in the balance sheet.

There was no change in the methods and assumptions
used in preparing the sensitivity analysis from prior years.

52. The Company uses an 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 accounting software
except for the changes that can be made at the
database level to log any direct data changes and at
application layer for the accounting software used for
maintaining the books of account relating to Fixed
Assets Register throughout the year. The integration of
Fixed Assets Register with the company’s accounting

software is under development and hence the audit
trail (edit log) is not enabled to that extent. Further,
there is no instance of audit trail feature being
tampered with in respect of the accounting software
where such feature is enabled. Additionally, the audit
trail of relevant prior years has been preserved for
record retention to the extent it was enabled and
recorded in those respective years by the Company as
per the statutory requirements for record retention.

53. ADDITIONAL REGULATORY

INFORMATION PURSUANT TO THE
PROVISIONS OF SCHEDULE III OF THE
COMPANIES ACT, 2013

(i) During the year, the company has not owned any
immovable properties whose title deeds are not
held in the name of the company.

(ii) During the year, the company has not hold any
investment property.

(iii) During the year, company has not revalued any
Property, Plant and Equipment or intangible asset.

(iv) The Company has not granted any loan or advance
in nature of loan to promoters, directors, key
managerial personnel and related parties as defined
under the Companies Act, 2013 either severally or
jointly with any other person that is (a) repayable
on demand; or (b) without specifying any terms or
period of repayment.

The contribution to a section 8 Company controlled by the company has been used for following activities:

(i) Promoting Education.

(ii) Promoting health care including preventinve health care.

(iii) Setting up homes and hostels for women and orphans.

(iv) Setting up old age homes, day care centres and such other facilities for senior citizens.

(v) Welfare of the schedule caste, tribes, other backward classes, minorities and women.

54. THE CODE ON SOCIAL SECURITY, 2020

The Code on Social Security 2020 ('Code') has been notified in the Official Gazette on September 29, 2020. The Code
is not yet effective and related rules are yet to be notified. Impact if any of the change will be assessed and recognized

in the period in which said Code becomes effective and

the rules framed thereunder are notified.

55. OTHER STATUTORY REQUIREMENT

(i) The Company does not have any Benami property,
where any proceeding has been initiated or pending
against the Group for holding any Benami property.

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

(iii) The Company have not traded or invested in
Crypto currency or Virtual Currency during the
financial year.

(iv) No funds have been advanced/loaned/invested
(from borrowed funds or from share premium
or from any other sources/kind of funds) by the
Company to any other person(s) or entity(ies),
including foreign entities (Intermediaries), with
the understanding (whether recorded in writing or
otherwise) 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) or (ii)
provide any guarantee, security or the like to or on
behalf of the Ultimate Beneficiaries.

No funds have been received by the Company
from any person(s) or entity(ies), including foreign
entities (Funding Parties), 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) or (ii) provide any
guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

(v) The Company is in compliance with the number of
layers prescribed under clause (87) of section 2 of
the Companies Act, 2013 read with the Companies
(Restriction on number of Layers) Rules, 2017 (as
amended).

(vi) The Company does not have 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.

(vii) No Scheme of Arrangements has been approved
by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013 during the
year. Hence, the requirements of disclosure of effect
of such Scheme of Arrangements in the books of
account in accordance with the Scheme and in
accordance with accounting standards are not
applicable.

56. SIGNIFICANT EVENTS AFTER THE
REPORTING PERIOD

There were no significant adjusting events that occurred
subsequent to the reporting period other than the
events disclosed in the relevant notes.

57. APPROVAL OF STANDALONE FINANCIAL
STATEMENTS

The Standalone financial statements were approved for
issue by the Board of Directors on May 14, 2025.

58. The figures for the corresponding previous year
have been regrouped/reclassified wherever necessary, to
make them comparable.

In terms of our attached report of even date

For K A Sanghavi and Co LLP For and on behalf of the Board

Chartered Accountants KPI Green Energy Limited

ICAI FRN: 0120846W/W100289

CA Amish A. Sanghavi Faruk G. Patel Mohmed Sohil Y. Dabhoya

Partner (Chairman & Managing Director) (Whole Time Director)

M. NO. 101413 DIN: 00414045 DIN: 07112947

ICAI UDIN: 25101413BMIYID4204

Place: Surat Salim S Yahoo Rajvi Upadhyay

Date: May 14, 2025 (Chief Financial Officer) (Company Secretary)