Provisions arc recognised when the company has a present obligation (legal or constructive) as a
result of a past event. Ll is probable tint an out flow of resources embodying economic benefits will he required

Li's sethc i he obligation acid a reliable tsi Lrnsuu can bo made of the amount of the obligation. When the company
expects some oral] of a provision to be reimbursed, ihe reimbursement is recognised ns a separate asset, but
only when the reimbursement is virtually certain. The expense relating to a provision is presented in the
StflEtaneiii pfpmfijfiiiKl loss net utility reimbursement.

Con hrtgerit liability is disposed irt the case o h

* a present obi i gal i oil a ri si ng from pasl events, when i t i s nol probab Ic til at an out flow of resources wi11 be
required 10 scltle the obligation:

* ftpresent obligation arising front past eveiLts. when no reliable estimate Ls possible;

* a possible obligation arising from post events, unless the probability of outflow of resources is remote,
Provisions, cont i ngenl 1 i ubi I n i es and eonl i ngenl assets are reviewed at eadi balance sheet date.

{xviii} Financial Instrument?

A Financial 1 ns I rumen t is liny conlritcl fhnl gives ri se to II financial HSSCt of one en1 i ty and a fi mint i ul I iab i Eily or
equity instrument of a Mother entity,

Financial Assets

I nil iul RcCOgniliim and Measurement

At initial recognition, mil financial assets are measured at fair value. Such financial assets are subsequently
classified under following three categories according to the purpose for which they are held. The classification
is.reviewed at the end oTeach reportirig period.

) Fin a ne i a IAssets at A mortised Cusl

At the date of initial recognition, arc held to collect contractual cash flows of principal and interest on
principal amount outstanding oil specified dates. These financial assets arc intended to be hold
until maturity Therefore, (hey are subsequently measured ul amortised cosl by applying the FlTecLive
Interest Rate (El R.J method to the gross tarrying amount of the financial assel, The EIR amortisation
is included an interests income in the profit or loss. I he leases arising from impainiienlaie recognised in the
pm fit or loss.

{b | Financial Assets at Fair value through Other Comprehend velMome

At the date of initial recognition, arc held to collect contractual cash flown of principal and interest on
principal amount outstanding on specified dates, as well as held for selling. Therefore, they aie
subsequently measured m each reporting dale ul fair value, with all fair value movements recognised in
Other Comprehensive Income (OCI). inlcrcst income calculnlcd using the effective inlcrcsl rale (EIR}
method, i mpa i rment ga i n or loss and foreign e \chango gain or loss, if any, are recogn i sod in the slate incnl
of pro fit and less. On derecognition of the assel, cumulative gain or loss previously recognised in other
comprehensive Income in reclassified from the OCI to statement of profit and loss.

(c) Financial Assets nt Fair v nEue through Profit nr Loss

At the date of initial recognition, financial assets are lleld tin- trading, or which are measured neither at
amortised cost nor ul fair value through GO. Therefore, they are subsequently measured at each
reporting dale at fair value, with all fair value movement recognised in the sta Lenient of; profit and loss.

Investment in Equity Shu res

Investments in equity securities are initially measured at cost. Any subsequent fair value gpin or
loss Is recogn tied th m ugh cther cn nijirc hen sive I ncome.

Investments in Mutual Funds

Investments ib mutual funds arc accounted tor at cost. Any subsequent (air value gain or loss is recogn bed
thmugh profit and lossaeeomU.

Impairment of HmncJtL Assets

toaccordanee with [nd AS 109. the Company uses 'Expected Credit Loss’(ECU mudel, for evaluating impairment of
fi natic i a I assets other than those measured at fair va I tic through profit and I ofs (FV l P L V

liftpec Led crcd il losses are measured t hrough n loss al lowanw at an amoiml cqua I to:

(a) The 12-months uprated e noli I losses (expected enedil losses lhal result from those default events
oo the II nanc i al in slrutnent that are jvossih lu w i thin L 2 months alter the reporting dalopor

(b) Full fife-lime expected credit losses (expected credit losses that result from ail possible default
events over thelife of the financial instrument).

For trade receivables., company applies 'simplified approach' which requires expected life time losses to he
recognised from i nil i :il recognition lit I he receivables. The eonipiirv uses historical default rates to tletennire
Impairment loss on the portfolio of trade receivables. At every reporting date, these historical default rates are
reviewed and charges in (he forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL lo provide for impairment loss where there is no
significant increase in credit risk. If there is significant increase in credit risk full li lie time ECL is used.

Financial Liabilities

Initial Recognition and Measurement

All financial liabilities ait; recognized initially at fair value and, in the case of loans and borrowings and payables, net
of directly attributable transaction cosls The Company's financial liabilities include trade and oilier payables, loans
and borrow i i igs including hank overdrafts, and derivative financial instruments

S Ltbscq tie tit M c asll re rilcilt

F i nunc i al liabilities are c hiss i lied as either financial 3 iabil ities at F VTPL or 'other finoneial 1 i aEii I ities':
fa) Fin a nc ial J .labilities al FVTPL;

Financial liabilities are classified set at FVTPL when the financial liability is hold for trading or are
designated upon in i tial recognil ion as FVTPL:

Ga i ns or Losses on 1 iabi I il i cs held for trading are recognised in the statement o f pro fil and loss.

(h) Other Financial Liabilities:

Other financial Jiahilities (including borrowings and trade and other payables) are subsequently measured at
amortised cost using the effective interest method.

Derecognition of Financial Instruments

The Company derecognizes a financial asset when the contractual rights to tlie cash flows from (lie financial
asset expire or it transfers (lie financial asset and ihe transfer qualifies for derecognition under Tnd AS 109. A
financial liability (or a part of a financial liability) is derecognized from the Company's balance sheet when the
obligation specified in the conlracl is discharged or cancelled or expires.

Derivative Financial Instruments

Derivatives are initially recognised at fair Value on the date a derivative contract is entered into and are subsequently
re-measured tu their fair value at the end of each reporting period.

a. The company uses various derivative llnaticial Instruments such as forwards contracts to mitigate the risk
of changes i nexchange rales. Such deri vati vu financial instrumentsarc ini tidily recognised at fair va I ue on
the date on which a derivative contract is entered into and arc also subsequently mcastired at fair vaitic.
Derivatives are carried us financial assets when the fail' value is positive and as financial liabilities when
the fair value is negative.

b. At the inception of the hedging relationship there is a formal designation and documentation of the
hedging relationship in accordance with the risk management objective and strategy liar undertaking Hie
hedge.

c. Any gains or losses arising from changes in [he fair value of derivatives are taken directly to statement of
profit and loss, except for [he effective portion of cash flow hedges which is recognised in other
comprehensive income and later to statement of profit and loss when the hedged item affects profif or
loss or treated us basis adjustment if a hedged forecast transaction subsequently results in the recognition
y f:j non-linuncial upsets nr mm-tinunci:il Iiubilily.

11 edge Accounting
Cuxfi Fhni'Hedm'

The Company designates derivative con tracts or non derivative financial assets / liabilities as hedgitig
instruments to mitigate the risk of move meat In foreign exchange rates for foreign exchange exposure on
highly probable future cash flow! attributable to a recognised asset or liability or forecast cash
transactions When a derivative is rlesigtiateil as u cash How hedging instrument, the effective portion of
changes in the lair value of the derivative is recognized in the cash flow hedging reserve being partofgther
comprehensive income. Any ineffective portion of changes in the fair value of thcdenvmivc is recognized
i itimcd iatcly i tt the stalctnc lit of profit and foss. If the hedg.i ng re lat ion sb ip no longer meets the criteria for
hedge accounting, then hedge accounting is discontinued prospectively. [fthe hedging mslnmienE expires
oris sold, terminated or exercised, the cumulative gain or loss on tltc hedging instrument recognized in
cash How hedging reserve till the period the hedge was effective remains iit cash How hedging reserve
until the underlying transaction occurs. The cumulative gain or loss previously recognized in tile cash
flow hedging reserve is transferred to the statement of profit and loss upon the occurrence of the
underlying transaction, if the forecasted transaction is tto longer expected to occur, then (he amount
accumulated in cash flow hedging reserve is reclassified in the statement of profit and loss.

(xis) Signifies nt Accounting Judgments, Esti m Ý tes and Assu ni prions

In the process Qf applying the Company's accounting policies, niuriaijemesil has maile the following
estimates, assumptions and judgements which have significant effect on the amounts recognized in tlte
financial statement:

a- In dim* faxes

Judgment olTlie management is required lor the calculation ofprovision for income taxes and deferred tax
assets and liabilities;. The coin puny reviews at each balance sheet date the carrying amount of deferred tax
assets and liabilities. The factors used in estimates may differ from actual outcome which could lead to
significant adjustment to the amounts reported in the financial statements.

b. Contingencies

Judgment of the management is required lor estimating the possihle ouL How of resources, if any, in
respect of eniuiugciieici^laim/litigatinns against the company as it is not possible to predict the outcome
of pending matters with accuracy,
r. Allowance tor uncollected acnmats receivable ami advances

Trade receivables Lire ituted at their Hernia! VidUe as reduced by appreciate UiloWunCoi fur estimated
irrecoverable amounts. Individual trade receivables are written off when management
seems thorn not collectible, Impairment is made on ECL, which are the present value of the cash short foil
eve r the expected I ife of the fi nine i al assets.

d. Provisions

Provisions and linhililies nrc recognised in the period when it becomes probable thm there will ben future
OUtflOW i>f funds resulting from pusl (rpcmtivn! Or events and the amount tiftnsh outflow can he reliably
estimated. The timing of rceognitinn and quunliiicatiim of Lhe liuhilily requires the application of
judgment to existing facts and circumstances, which can he subject to change. The carrying amounts of
provisions and liabilities are reviewed regularly and reviseif to hake account of changing facts and
circumstances.

t*. JltTined 35i'llellt Plans

The cost of the defined benefit plan and other post-employment benefits and the present value of such
obligation are determined using actuarial valuations. An actuarial valuation involves making various
assumptions thul may dilTer from actual developments in falure. These includes Lhe determination of the
discount ralc^ future salary increases, mortality rates and attrition rate. Due 10 (he complexities involved in
the valuation and Us long-tecm nature, a defined benefit obi i gal ion is highly sensitive to changes in these
ass umptions, a! I assumptions are reviewed al each reporting dale.

(xx) Recent ar count inn pPdnounCedteiitt

The Ministry of Corporate Affairs vide notification dated 3^h September 2U24 and 2$" September 202J
noli lied the Companies (Indian Accounting Slandarda) Second Amendment Rides, 2024 and Companies
1 Indian Accounting Standards) Third Amendment Rules, 2024, respectively, which amended.¹' noliiied
certain accounting standards (see below), and arc effective for annual reporting periods beginning onor after
r April 2024:

1. Insurance Contracts IndAS ll7tand

2. Lease Liability in Sale and Leaseback transactions Amendmciiis to IndAS 11b

These amendments did not have any impact on the amounts recognised in prior periods anil are no!
expected lo affect the current or future periods.

t 'in-cirf rn'dit Iiks (kC I

TbsenoeiiK to utvJLt risk bjuflutiKLJ msiLnlyby thL- indivii^reJetaiacterisiijcjofeadi tusloinet r'ludii list _L; niaiiHjiLd tfimugb a»lil

ÝippiiiviLln, LLLsbl:-- i::i^ I ImiMx »r>J. iniiAin-- ly i:h>nil::nr.L ib( Lriklihviirl/imL-LX ki wlkiLh Uil omnpkmy LTnr I:. Ln:Jil kcnln in Ihn

Qonim! course of business The auLiijutf tioJ ii purn-J is between MJ-'A*dn>‘ Before *oeepLi|ig uny in’w uiwci-nwr, Itiu company uses nn internal credit
auuiiikj system(Bi'sssdflt the (tuKnii-sl custonnei'^cnedilLpialityimildefines cow limiH fui flsebcusfeiiierLimits iwscorify;attributed to customers
*lt neviuwud imce h_il.lt.

As a pimtiml expodioit ficoornjisnyuFit^tvfirasiironniflrtrixtodaaiisiie irnjranmieirttossofitsliadeiccriskblES.TTicnwvininnBialiis bbaMdBijSta
historically ohstraed iltlauli rates ova itic expecttd lift oftite trade ceceisaHe hoO isadn-itcii l«: forward looking esdeetii. ThstCLallowaHCe tot
ravers*!)? if hot-during llioyeef is (jbcogniecd intbesttienijenl nf profit Hid low.

Nute M F|J¥*NCI 1.1. UISK \l \ NAf ll'MFVT

Tfc iXOTrfE!fl3>%- act iv file {tt.po*£ )Ý in i-u-.lii n-iL, lujuiihLs iihk, iittflci risk triiLpnix: n-iL

(AJ Crrflr Rbk

i red it. _v;k i:- the risk ili.n cwunlscpaty will me I iewci in iibljEuinn^ under a fm naval instrument or eusuimdr contract. lending ea n f_jiiivi.il loss. C Liedi risk
c-xpLumpuMT^ ihc- Ý.Iii-.l i ritk of defjuSi, risk iW Jricnaniinjfi ofurc-ditwm ihnu - w l-II ns i^ncciiuriniutt risks. f ht- ciriHfuiL)' w c-.sfMsed in uviJic finale lYam iix
i.ip^(cin£JC!lvh*kf primarily irwte d£p.wh ituhfcuikl IWMfihe*

fredis Flask S\ jha^ideuI

Fw r'liibVIill KAHS «h* L'HifflphriV lyi nil mV^liVii^h ^iliL-y fe1^,-*!il njjnWE lilt- -JiMl'^iiiV In irIVcSI niilV With OnUilierywrlliH hlVirtg lUgh OfdiJM Wllrtji.x n Willi hijl.lVT
iti,-uL,'iiIi:iI‘' TIh? i,--.ri ipmy lips icu.->. ft* ftsdilWttlhincV* i.il'-lisr^V crwnlrTpttrfKt- i.hi <:ny.iHny. I.tfrii^. AmHltCT btlUlfV hi I't.- i i.: ij i I ink h' IIkT rCpOt liny. «J»*C !ÝÝ ft^nii linijf
ptraivabfcrt 9* the-Hf ;m.' typically mgvOinftL Ttri^ credit risk h-ss- ata-ayi htn m a nam'd. Uirtmjsh credit *p|W4ji--jls. L'*jblirfiinj< troJit limits: and curriiniKnis nrpenitarinn
iIil" creJiLrrrirthiness of r_e-1o.iTKrs In whom credit is extended in the ncrnoal course of business. I he company estimates llie expected credit Iras based! on past diia.
£Ý jiI.iM.; LcJnmurvn on public domain and experience. £xp«fed credit tosses o: hium-al asses recc-ivjhie are artirnarted based un hisrcritjl daa at the exunjuny
f he ctonpun^ has priM!>.ku"in'ii_pufecy Us r:t|n_\icd credit tiSJrt. tfcre i' nn-rieiliiinsk in berni depusiis >.>r >.li ate demunl ik-jV-wt,

I IS) Liquidity tiiik

Ihcciimpcmy manages L>.iuiJiLj. nak >b\ mamiaminp ndapiale surplus, hanking Eieililies usd reserve Kirruv, bigs. faci_liu.es by coniiiiiietady niniiii>:>r_ri£- Icrecasis
fefrl UCtt*il I.i-li ftnW . 'Hie iimpAny this i>.vateill irf tin frCWlflJ iVil IWf|ve iiU?illh.s (tth iriflffW lilil iHIlflnW Jllil iklj IlijllnJiEV ii^uireiYlWC^ gftf |:lmii>nl. f ihk‘ kTiJ
f)lh*r imyidilr^ UPC nVEtwl as |Mt iri fiUfi fc-mn *mJ p|i4o rilinijl;. ft II |ijiyini.?^i Hie inwlv jliwij iJlKT diikrt KnJ r«t||U@H for *Hily un; eiili-l:mi. il nfler duf

jfritivjl irdav-.iiiT-.j.ejily pjynnffl*drseuuiili.

SenwtiiMy \»*hsls uii knlc IIIu?toyi iii£>

FIh enmp^ k<sposed In vinous tvpM ot'homiwinBs is staled in note nos. lb and II. respectively. ITw sensitivity inniysis demunslrztes a re^cHhly passible
rhiiner- m she i me rest, rwesi. with .ill ihIut <uriibJ.es held cunsinni for ilu¹ year ended 31 si Mureh. 2Ui!:< uul ;51 si .March. JfJil, every t>. Jo" * increase in the mwrM

Wiiii|d ihereiiie the linmjkniy's. jSnfii ripprivxunurely ( I J.79 I ukh led. ( I nkh res^-ciirely. A Ikj5%dei.^:ieirieihche naeiM rme w..eukl Il.hI if mi n^jil
hui i:ppi->j-.e ei lea

ll>l Prkt risk

The eompuiy iseirposed to price rnk in his_e ineredienis at ennipa/s raw mzieriza and is prceurinc l_r.nfed ronijeevnis arM Siu^.Iil cul ouiemh Ircoi >.end11r>.
direeily Hie < iumpiiiy nsottmw* ns {trice ride nnJ heroes ihe price nKKiae in prionf erf ilte jwiHJiict,.

Note 1 OTHER STATUTORY INFORMATION

i; line company dots nol have any Henami property. where any proceeding has been initiated or pending
again jl the Group frjf holltnigany Remind property,

ii) The company does not have any I ransact ions with compa n i cs struck off.

iii) TIk omipiiny does nor have any charges or satisfaction which is yvt lobe registered with ROC beyond
the statutory period,

iv) The company lias nol traded or invested in crypto currency or virtual eurreney during the financial
year.

v> The company lias not beeii declared wilful defaulter by any bank or financial iniHlitulion or
government or any govern meiitiutthoriLy.

vi) The ennipuny has not advanced or limned nr invested fUrvdS to any other jiltk<iti(s) or entilyfies),
iBkdudmgfdreign entities (Intermediaries) with the unde island mg that the Lnlemnediafy shall:

ltd directly or indirectly lend or invest in other persons or entities identified in any manner
u hatsDCvorby (iron behalf oi'the company {111 Limaie Beneficiaries)^

(b) provide any guarantee, t-ceurity or the 1 i ke to or on behn I f of the L¹1 titrate Beneficiaries

vii) The- company hns not received any fund from any peiH;in(s) or endilyfies), including foreign
entities (Funding Party) with (lie underslarnliiig (whether recorded in writing or otherwise! that the
company shall:

(a) directly or indirectly lend or invest in olheT persons or entities identified in any manner
whatsoever t^rjor on behalfdf (he funding party (Ultimate Beneficiaries) or
(hj provide any guarantee, security orthelikeoitbehalfoflhe Ultimate Beneficiaries,
viiiynis cwnpany does not have any such transacLion which is uoi recorded in Lite books of accouins tliai
has been surrendered or disclosed as income during the year in the tax assessments under the Income
Tnx.Aet, 1961 (such ns, search nr survey or any olher relevant provisions of the Income Tax Act, Ititil).

Note 4F The code oi lsocLal Security, 2(120 ('Cods’) relaling to employee benefits during employment and pnsl-
employment received Pres [dentin] assent in September 2020 and its effective date is yet to be notified.
']"he company will assess and record the impaet of the Code, once it is effective.

Note 4ti Previous period figures have been regrouped and reclassitied wherever considered necessary to confirm
to this year's classifications.

Material Accounting tioliews (Note No. 1)

The accom paiiy In p, notes form an integral pari of the financial statements

As pci¹ our import of even date attached

For ITS. Bail sill & Company

Chartered Accountants

Firm's Registration NiiEnbar: ndd^J^t:

For and on behalf of the Board of directors

tCA, Vijai R annul)

Fartner Piyush Multia Pmncct Mmha PuSkil Muhcshwari

Membership No,0753-14

Delias

Dated: Mu v £ih. 21)2.4 Managing Director Director Company -Secretary &Ý CFO

(DIN00424206) (DlN-OOd2d2 50) <M No. A<jS-686'W))