10. Provision, Contingent Liabilities, Contingent Assets and Commitments
Provision

Provision are recognized when there is a present obligation (legal or constructive) as a result of a past event and it is probable
that an outflow of benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation.
Provisions are recognized at the best estimate of the expenditure required to settle the present obligation at the reporting date.

Contingent liabilities

Contingent liabilities are disclosed when there is a possible but not probable obligation arising from the past events, the
existence of which will be confirmed only on the occurrence or non occurrence of one or more uncertain future events not wholly
within the control of the company or a present obligation that arises from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable estimate of the amount cannot be made. Contingent liabilities do not
warrant provisions but are disclosed unless the possibility of outflow of resources is remote.

Contingent Assets

Contingent assets are disclosed in the financial statements when an inflow of economic benefit is probable. However, when the
realization of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate

Commitments

Commitments are future liabilities for contractual expenditure, classified and disclosed as estimated amount of contracts
remaining to be executed on capital account and not provided for.

11. Income Tax, Deferred Tax

a) Current and Deferred Tax

Tax expense for the period, comprising Current tax and Deferred Tax are included in the determination of net profit or loss
for the period.

Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the taxation laws
prevailing in India.

Deferred Tax is recognized for all the timing differences, subject to the consideration of prudence in respect of deferred tax
assets. Deferred tax assets are recognized and carried forward only to the extent that there is a reasonable certainty that
sufficient future taxable income will be available against which such deferred tax assets can be realized.

Deferred Tax assets and liabilities are measured using the tax rates and tax laws that have been enacted and substantively
enacted by the Balance Sheet date. At each Balance Sheet date, the company re-assesses unrecognized deferred tax
assets, if any.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and
liabilities and when the deferred tax balances related to the same taxation authority. Current tax assets and tax liabilities
are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis or to realize
the asset and settle the liability simultaneously.

Current and deferred tax is recognized in the statement of profit and loss, except to the extent that it relates to items
recognized in other comprehensive income or directly in equity.

12. Borrowing Cost

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of cost of such assets
up to date which such assets are ready for intended use. Other borrowing costs are charged as an expense over the period of
Term Loan.

13. Impairment of Assets

Assessment is done at each Balance Sheet reporting date as to whether there is any indication that a tangible asset may be
impaired. For the purpose of assessing impairment, the smallest identifiable group of asset that generates cash inflows from
continuing use that are largely independent of the cash inflow from other assets or groups of assets, is considered as a cash
generating unit. If any such indication exists, an estimate of the recoverable amount of the asset/cash generating unit is made.

Assets whose carrying value exceeds their recoverable amount are written down to the recoverable amount. Recoverable
amount is higher of an asset’s or cash generating unit’s net selling price and its value in use. Value in use is the present value
of estimated future cash flows expected to arise from the continuing use of an assets and from its disposal at the end of its
useful life. Assessment is also done at each Balance Sheet date as to whether there is any indication that an impairment loss
recognized for an asset in prior accounting periods may no longer exist or may have decreased.

14. Leases (As a lessee)

The Company has adopted Ind AS 116 “Leases” using the modified retrospective approach with effect from initially applying this
standard from 1st April 2019.

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116 and this may require
significant judgment. The Company also uses significant judgement in assessing the lease term (including anticipated renewals)
and the applicable discount rate.

The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered by an
option to extend or terminate the lease if the Company is reasonably certain based on relevant facts and circumstances that
the option to extend or terminate will be exercised. If there is a change in facts and circumstances, the expected lease term is
revised accordingly.

The discount rate is generally based on the interest rate specific to the lease being evaluated or if that cannot be easily
determined the incremental borrowing rate for similar term is used.

The Company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term
of 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these
leases as an expense on a straight-line basis over the lease term.

The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is
initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or
before the commencement date, plus any initial direct costs incurred and restoration cost, less any lease incentives received.

The right-of-use assets are subsequently depreciated over the shorter of the asset’s useful life and the lease term on a straight¬
line basis. In addition, the right-of-use asset is reduced by impairment losses, if any.

The lease liability is initially measured at amortised cost at the present value of the future lease payments. When a lease liability
is re-measured, the corresponding adjustment of the lease liability is made to the carrying amount of the right-of-use asset, or
is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

Lease liability and right-of-use asset have been separately presented in the Balance sheet and lease payments have been
classified as financing cash flows.

15. Cash and Cash Equivalents:

In the Cash flow statement, cash and cash equivalents include cash on hand, demand deposits with bank, other short term
highly liquid investments with original maturity of three months or less.

16. Earnings per share:

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by
weighted average number of equity shares outstanding during the period. The Weighted average number of equity shares
outstanding during the period and for all periods presented is adjusted for the events, such as bonus shares, other than
conversion of potential equity share that have changed the number of equity shares outstanding, without a corresponding
change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity share holders
and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential
equity shares.

17. Exceptional items

On certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the
Company is such that its disclosure improves the understanding of the performance of the Company. Such income or expense
is classified as an exceptional item and accordingly, disclosed in the notes to the financial statements.

18. Segment reporting

The Chief Operating Decision Maker (‘CODM’) monitors the operating results of its business segments separately for the
purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated
based on profit or loss and is measured consistently with profit or loss in the financial statements.

19. Borrowings and Loans

Borrowings and loans are initially recognised at fair value, net of transaction costs incurred. It is subsequently measured at
amortised cost using the effective interest rate method. Amortised cost is calculated by taking into account any discount or
premium on acquisition and fees or transaction costs that are an integral part of the effective interest rate. Any difference
between the proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of profit and loss
over the period of borrowings using the effective interest rate.

20. Financial Instruments

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity. Financial instruments also include derivative contracts such as foreign currency forward contracts.

1) Financial Assets

i) Classification

The Company classifies its financial assets in the following measurement categories:

a) at fair value either through other comprehensive income (FVOCI) or through profit and loss (FVTPL); and

b) at amortised cost.

The classification depends on the entity’s business model for managing the financial assets and the contractual terms
of the cash flow characteristic of the financial asset.

Gains and losses will either be recorded in the statement of profit and loss or other comprehensive income for assets
measured at fair value.

For investments in debt instruments, this will depend on the business model in which the investment is held.

For investments in equity instruments, this will depend on whether the Company has made an irrevocable election at
the time of initial recognition to account for the equity investment at fair value or through other comprehensive income.

The Company reclassifies debt investments when and only when its business model for managing those assets
changes.

ii) Measurement

At initial recognition, in case of a financial asset not at fair value through the statement of profit and loss account,
the Company measures a financial asset at its fair value plus transaction costs that are directly attributable to the
acquisition of the financial asset. However trade receivables that do not contain a significant financing component
are measured at transaction price. Transaction costs of financial assets carried at fair value through the statement of
profit and loss are expensed in profit or loss.

a) Debt instruments

There are three measurement categories into which the Company classifies its debt instruments:

Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent
solely payments of principal and interest are measured at amortised cost. Gain or loss on a debt investment
that is subsequently measured at amortised cost and is not part of a hedging relationship is recognised in the
statement of profit and loss when the asset is derecognised or impaired. Interest income from these financial
assets is included in other income using the effective interest rate method.

Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual
cash flows and for selling the financial assets, where the assets‘ cash flows represent solely payments of
principal and interest, are measured at fair value through other comprehensive income (FVOCI). Movements in
the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest
income and foreign exchange gains and losses which are recognised in profit and loss. When the financial
asset is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from equity to
the statement of profit and loss and recognised in other income or other expenses (as applicable). Income from
these financial assets is included in other income.

Fair value through profit and loss (FVTPL) : Assets that do not meet the criteria for amortised cost or FVOCI
are measured at fair value through the profit and loss. A gain or loss on a debt investment that is subsequently
measured at fair value through profit and loss and is not part of a hedging relationship is recognised in the
statement of profit and loss and within other income or other expenses (as applicable) in the period in which it
arises. Income from these financial assets being difference of cost & maturity proceeds are included in other
income or other expenses, as applicable.

b) Equity instruments

The Company measures all equity investments (except Equity investment in subsidiaries and joint ventures) at
fair value. The Company‘s management has opted to present fair value gains and losses on equity investments
through profit and loss account. Dividends from such investments are recognised in the statement of profit and
loss as other income when the Company‘s right to receive payments is established.

Changes in the fair value of financial assets at fair value through profit and loss are recognised in other income
or other expenses, as applicable in the statement of profit and loss.

iii) Impairment of financial assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at
amortised cost and FVOCI debt instruments. The impairment methodology applied depends on whether there has
been a significant increase in credit risk. For trade receivables only, the company applies the simplified approach
permitted by Ind AS 109 Financial Instruments, which requires expected lifetime losses to be recognised from initial
recognition of the receivables.

iv) Derecognition of financial assets

A financial asset is derecognised only when -

a) The Company has transferred the rights to receive cash flows from the financial asset or

b) Retains the contractual rights to receive the cash lows of the financial asset, but assumes a contractual obligation
to pay the cash flows to one or more recipients.

Where the company has transferred an asset, it evaluates whether it has transferred substantially all risks and
rewards of ownership of the financial asset. In such cases, the financial asset is derecognised. Where the entity
has not transferred substantially all risks and rewards of ownership of the financial asset, the financial asset is not
derecognized.

Where the company has neither transferred a financial asset nor retains substantially all risks and rewards of
ownership of the financial asset, the financial asset is derecognised if the Company has not retained control of the
financial asset. Where the Company retains control of the financial asset, the asset is continued to be recognised to
the extent of continuing involvement in the financial asset.

v) Income Recognition
Interest income

Interest income from debt instruments is recognised using the effective interest rate method. The effective interest
rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset
to the gross carrying amount of a financial asset. When calculating the effective interest rate, the company estimates
the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment,
extension, call and similar options) but does not consider the expected credit losses.

Dividend income

Dividends are recognised in the statement of profit and loss only when the right to receive payment is established, it
is probable that the economic benefits associated with the dividend will flow to the Company, and the amount of the
dividend can be measured reliably.

vi) Cash and cash equivalents

Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short- term,
highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts
of cash and which are subject to an insignificant risk of changes in value.

vii) Trade Receivables

Trade receivables are recognised initially at the transaction price as they do not contain significant financing
components. The Company holds the trade receivables with the objective of collecting the contractual cash flows and
therefore measures them subsequently at amortised cost using the effective interest method, less loss allowance.

2) Financial Liabilities

i) Measurement

Financial liabilities are initially recognised at fair value, reduced by transaction costs (in case of financial liabilities not
recorded at fair value through profit and loss), that are directly attributable to the issue of financial liability. All financial
liabilities are subsequently measured at amortised cost using effective interest method. Under the effective interest
method, future cash outflow are exactly discounted to the initial recognition value using the effective interest rate, over
the expected life of the financial liability, or, where appropriate, a shorter period. At the time of initial recognition, there
is no financial liability irrevocably designated as measured at fair value through profit and loss.

ii) 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 de-recognition
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 and loss.

iii) Trade and other payables

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year
which are unpaid. The amounts are unsecured and are usually paid as per payment terms.

iv) Derivatives and hedging activities

Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently
re-measured to their fair value at the end of each reporting period. Resulting gains/(losses) are recorded in statement
of profit and loss under other income/other expenses. Derivatives are classified as a current asset or liability when
expected to be realised/settled within 12 months of the balance sheet date.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally
enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset
and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must
be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company
or the counterparty.

NOTE : 3A Critical estimates and judgments

In the application of the company‘s accounting policies, which are described in note 2, the management is required to make judgment,
estimates, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other process.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.
Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. 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 period if
the revision affects both current and future period.

The following are the critical estimates and judgments that have the significant effect on the amounts recognised in the financial
statements.

Critical estimates and judgments

i) Estimation of current tax expense and deferred tax

The calculation of the company‘s tax charge necessarily involves a degree of estimation and judgment in respect of certain
items whose tax treatment cannot be finally determined until resolution has been reached with the relevant tax authority or, as
appropriate, through a formal legal process. Significant judgments are involved in determining the provision for income taxes,
including amount expected to be paid/recovered for uncertain tax positions. Where the final tax outcome of these matters is
different from the amounts that were initially recorded, such differences will impact the current and deferred income tax in the
period in which such determination is made.

Recognition of deferred tax assets / liabilities

The recognition of deferred tax assets is based upon whether it is probable that sufficient and suitable taxable profits will be
available in the future against which the reversal of temporary differences can be deducted. To determine the future taxable
profits, reference is made to the approved budgets of the company. Where the temporary differences are related to losses, local
tax law is considered to determine the availability of the losses to offset against the future taxable profits as well as whether
there is convincing evidence that sufficient taxable profit will be available against which the unused tax losses or unused tax
credits can be utilised by the company. Significant items on which the Company has exercised accounting judgment include
recognition of deferred tax assets in respect of losses. The amounts recognised in the financial statements in respect of each
matter are derived from the Company‘s best estimation and judgment as described above.

ii) Estimation of Provisions and Contingent Liabilities

The company exercises judgment in measuring and recognising provisions and the exposures to contingent liabilities, which is
related to pending litigation or other outstanding claims. Judgment is necessary in assessing the likelihood that a pending claim
will succeed, or a liability will arise, and to quantify the possible range of the financial settlement.

Because of the inherent uncertainty in this evaluation process, actual liability may be different from the originally estimated as
provision. Although there can be no assurance of the final outcome of the legal proceedings in which the company is involved,
it is not expected that such contingencies will have a material effect on its financial position or profitability.

iii) Estimation of useful life of Property, Plant and Equipment, Intangible assets, Investment properties

Property, Plant and Equipment, Intangible assets, Investment properties represent a significant proportion of the asset base
of the company. The charge in respect of periodic depreciation is derived after determining an estimate of an asset‘s expected
useful life and the expected residual value at the end of its life. The useful lives and residual values of company‘s assets are
determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end.
The useful lives are based on historical experience with similar assets as well as anticipation of future events, which may impact
their life, such as changes in technology.

iv) Estimation of provision for inventory

The company writes down inventories to net realisable value based on an estimate of the realisability of inventories. Write
downs on inventories are recorded where events or changes in circumstances indicate that the balances may not realised.
The identification of write-downs requires the use of estimates of net selling prices of the down-graded inventories. Where the
expectation is different from the original estimate, such difference will impact the carrying value of inventories and write-downs
of inventories in the periods in which such estimate has been changed.

v) Estimation of defined benefit obligation

The present value of the defined benefit obligations depends on a number of factors that are determined on an actuarial basis
using a number of assumptions. The assumptions used in determining the net cost (income) for post employments plans
include the discount rate. Any changes in these assumptions will impact the carrying amount of such obligations.

The company determines the appropriate discount rate at the end of each year. This is the interest rate that should be used to
determine the present value of estimated future cash outflows expected to be required to settle the defined benefit obligations.
In determining the appropriate discount rate, the company considers the interest rates of government bonds of maturity
approximating the terms of the related plan liability.

vi) Estimated fair value of Financial Instruments

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The
Management uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions
existing at the end of each reporting period.

vii) Impairment of Trade Receivable

The impairment provisions for trade receivable are based on assumptions about risk of default and expected loss rates. The
company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on the
company’s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

NOTE: 3B New and amended standards adopted by the Company

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 not notified any new
standards or amendments to the existing standards applicable to the company.

14.2 Terms/Rights Attached to Shares

The company has only one class of equity shares having a par value of Rs. 10/- per share. Each share holder of fully paid equity
shares is entitled to one vote per share. The company declares and pays dividends to the share holders of fully paid equity shares
in Indian rupees. The dividend proposed by Board of Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company
after distribution of all preferential amounts, in proportion to their shareholding.

NOTE 35: Contingent Liabilities and Litigations

a) Unredeemed Bank Guarantees & Letter of credit are Rs. 38.18 Lakhs (P.Y. Rs. 34.19 Lakhs)

b) Claims against the company not acknowledged as debts pending outcome of appeals / rectification -
Ý Income Tax Liability Rs. 0.74 Lakhs (P.Y. Rs. 7.83 Lakhs)

c) The company has filed legal suit against debtors towards recovery of Rs. 4.28 Lakhs and the provision for impairment / doubtful
debts has been made for the same. The final realization is subject to outcome of the legal case.

NOTE 36-A:

Capital Commitments:- Estimate amount of contract remaining to be executed on Capital Account & not provided for Rs 24.57
Lakhs (P.Y. Rs 9.56 Lakhs) against which advance has been paid of Rs. 15.13 Lakhs (P.Y. Rs. 5.30 Lakhs)

NOTE 36-B:

Assets Pledged as Security:-The carrying amounts of assets pledged as security for current and non-current borrowing are,

b) Defined benefit plans - Gratuity & Leave Encashment:

Gratuity: - The Company operates a gratuity plan which is administrated through HDFC Standard Life Insurance Company
Limited and a trust which is administrated through trustees. Every employee is entitled to a minimum benefit equivalent to 15
days salary last drawn for each completed year of service in line with Payment of Gratuity act, 1972. The same is payable at
the time of separation from the company or retirement, whichever is earlier or death in service.

Leave Encashment: - The employees are entitled to accumulate compensated absence upto specified days as per company
policy, which is payable at the time of separation from company i.e. retirement or death in service at the rate of last drawn salary.

The details on Company’s Gratuity and Leave Encashment liabilities employees are given below which is certified by the
actuary and relied upon by the auditors.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity and derivative
instruments that have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued
using the closing price as at the reporting period.

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 and rely as little as possible on entity specific estimates. The Company has
mutual funds for which all significant inputs required to fair value an instrument falls under level 2.

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

There are no transfers between levels 1, 2 and 3 during the year.

(ii) Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

Investments in quoted equity instruments are valued using the closing price at Bombay Stock Exchange (BSE) at the reporting
period.

The fair value of forward foreign exchange contracts is determined using forward exchange rates as at the balance sheet date,
prevailing with authorised dealers dealing in foreign exchange.

The use of Net Assets Value (‘NAV) for valuation of mutual fund investment. NAV represents the price at which the issuer will
issue further units and will redeem such units of mutual fund to and from the investors.

The fair value of the debentures is determined based on present values and the discount rates used were adjusted for
counterparty risk and country risk.

a) The carrying amounts of trade receivables, trade payables, cash and cash equivalents, bank balances other than cash and
cash equivalents, borrowings and other financial liabilities are considered to be the same as their fair values, due to their
short term nature.

b) The fair values and carrying value for equity investments, security deposits, loans, other financial assets and other financial
liabilities are materially the same.

NOTE 47A: Financial risk management

The Company’s activities expose it to market risk, liquidity risk and credit risk. In order to minimize any adverse effects on the
financial performance of the company, derivative financial instruments, such as foreign exchange forward contracts are entered
to hedge certain foreign currency risk exposures. Derivatives are used exclusively for hedging purposes and not as trading or
speculative instruments.

This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact of hedge
accounting in the financial statements.

The company has a robust risk management framework comprising risk governance structure and defend risk management
processes. The risk governance structure of the company is a formal organization structure with defend roles and responsibilities
for risk management.

The Company risk management is carried out by a central treasury department under the guidance from the board of directors.
Company’s treasury identifies, evaluates and hedges financial risks in close coordination with the company’s operating units. The
board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange
risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment
of excess liquidity. There is no change in objectives and process for managing the risk and methods used to measure the risk as
compared to previous year.

1) Credit Risk :

Credit risk is the risk that the counterparty will not meet its obligation under a financial instrument or customer contract, leading
to financial loss. The Credit risk mainly arises receivables from customers, cash and cash equivalents, loans and deposits with
banks, financial institutions & others.

a) Trade receivables and loans

The maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to Rs. 913.22
Lakhs as at March 31,2025 (March 31,2024- Rs. 782.91 Lakhs) and from loans amounting Rs. 13.14 Lakhs (March 31,
2024 Rs. 8.23 Lakhs) Trade receivables are typically unsecured and are derived from revenue earned from customers
located in India as well as outside India.

The Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred losses
in respect of trade receivables.

The Company‘s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry, the country and the state in which the customer
operates, also has an influence on credit risk assessment.

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the credit worthiness
of customers to which the Company grants credit terms in the normal course of business.

The management continuously monitors the credit exposure towards the customers outstanding at the end of each
reporting period to determine incurred and expected credit losses. Historical trends of impairment of trade receivables do
not reflect any significant credit losses. Given that the macroeconomic indicators affecting customers of the Company have
not undergone any substantial change, the Company expects the historical trend of minimal credit losses to continue.

The average credit period on sales of products is less than 90 days. Credit risk arising from trade receivables is managed
in accordance with the Company‘s established policy, procedures and control relating to customer credit risk management.
Credit quality of a customer is assessed based on a detailed study of credit worthiness and accordingly individual credit
limits are defined/modified. For trade receivables, as a practical expedient, the Company computes credit loss allowance
based on a provision table as above.

b) Cash and cash equivalents:

As at the year end, the Company held cash and cash equivalents of Rs. 365.44 Lakhs ( March 31, 2024: Rs. 485.08
Lakhs). The cash and cash equivalents are held with bank and financial institution counterparties with good credit rating.

c) Other Bank Balances:

Other bank balances are held with bank and financial institution counterparties with good credit rating.

d) Loans : The maximum exposure from loans is from loans due to employees and the repayments are regular and neither
past due nor impaired.

e) Other financial assets:

Other financial assets includes security deposits which are neither past due nor impaired.

2) Liquidity Risk :

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. 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 and to close out market positions. Due to the
dynamic nature of the underlying businesses.

Company treasury maintains flexibility in funding by maintaining availability under committed credit lines. Management monitors
rolling forecasts of the Company‘s liquidity position (comprising the undrawn borrowing facilities below) and cash and cash
equivalents on the basis of expected cash flows.

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 risks namely interest rate risk, currency risk and other price risk, such as commodity
risk. The Company is not exposed to interest rate risk whereas the exposure to currency risk and other price risk is given below:

A) Market Risk- Foreign currency risk.

The Company operates internationally and portion of the business is transacted in several currencies and consequently
the Company is exposed to foreign exchange risk through its sales in overseas and purchases from overseas suppliers
in various foreign currencies. Foreign currency exchange rate exposure is partly balanced by maintaining an EEFC
bank account and purchasing of goods, commodities and services in the respective currencies. The Company also uses
foreign currency forward contracts to hedge its risks associated with foreign currency fluctuations relating to certain
firm commitments, highly probable forecast transactions and foreign currency required at the settlement date of certain
receivables/payables. The use of foreign currency forward contracts is governed by the Company‘s strategy approved by
the board of directors, which provide principles on the use of such forward contracts consistent with the Company‘s risk
management policy and procedures.

(a) Exposure

The company is mainly exposed to the price risk due to its investment in mutual funds and investment in equity
instruments held by the company and classified in the balance sheet as fair value through profit or loss. The investment
in mutual funds are mix of equity and debt based mutual funds. The price risk arises due to uncertainties about the
future market values of these investments. To manage its price risk arising from investments in equity securities and
mutual funds, the company diversifies its portfolio.

(b) Sensitivity

The table below summarizes the impact of increases/decreases of the BSE index on the Company‘s equity and Gain/ Loss
for the period. The analysis is based on the assumption that the index has increased by 5% or decreased by 5% with all
other variables held constant, and that all the company‘s equity instruments / mutual funds moved in line with the index.

Additional Regulatory information.

NOTE 49 :

The disclosure requirements about any transactions 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 surveyor any other relevant
provision of Income Tax Act 1961 ) is not applicable to the company.

NOTE 50 :

The company has not traded or invested in crypto currency or virtual currency during the financial year.

NOTE 51 :

There are no proceedings which are initiated or pending against the Company for holding any Benami property under the Benami
transactions (Prohibition) Act 1988 & rules made thereunder.

NOTE 52 :

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section
560 of the Companies Act, 1956.

Note 53 :

Utilisation of Borrowed funds and share premium

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:

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 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:

a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf ofthe Funding
Party (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries
Note 54 :

No significant subsequent events have been observed which may require an adjustment to the financial statements.

Note 55 :

The Company has used accounting software for maintaining its books of accounts which has a feature of recording audit trail (edit
log) facility and the same has been operated throughout the year for all relevant transactions recorded in the software. Further, there
are no instance of audit trail feature being tampered during the year.

NOTE 57: Figures of Previous are regrouped and reclassified wherever necessary.

" AS PER OUR ANNEXED REPORT OF EVEN DATE "

S. P. JAIN & ASSOCIATES FOR AND ON BEHALF OF THE BOARD

CHARTERED ACCOUNTANTS

FRN 103969W Sd/- Sd/-

ASHOK B. HARJANI NISHA P. HARJANI

Sd/- CHAIRMAN & MANAGING DIRECTOR DIRECTOR & CFO

DIN - 00725890 DIN - 00736566

KAPIL K. JAIN
PARTNER

M.NO.108521 PLACE: MUMBAI

UDIN - 25108521BMGXUO3039 DATED: 15th MAY, 2025