2.18 Provisions and Contingencies

Provisions are recognized when there is a present
obligation as a result of a past event, it is probable that
an outflow of resources embodying economic benefits
will be required to settle the obligation and there is
a reliable estimate of the amount of the obligation.
Provisions are measured at the best estimate of the
expenditure required to settle the present obligation at
the Balance sheet date.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the
provision due to the passage of time is recognized as
a finance cost.

Contingent liabilities are disclosed when there
is a possible obligation arising from past events,
the existence of which will be confirmed only by
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.

2.19 Rounding of amounts

All amounts disclosed in the standalone financial
statements and notes have been rounded off to the
nearest lakhs as per the requirement of Schedule III,
unless otherwise stated.

2A) Recent accounting pronouncements

The Ministry of Corporate Affairs vide notification dated
9^th September 2024 and 28^th September 2024 notified
the companies (Indian Accounting Standards) Second
Amendment Rules, 2024 and Companies (Indian
Accounting Standards) Third Amendment Rules, 2024,
respectively, which amended/notified certain accounting
standards (see below), and are effective for annual
reporting periods beginning on or after 1 April 2024:

insurance Contracts - Ind AS 117; and

*Lease liability in sale and leaseback - Amendments to
Ind AS 116

These amendments are not applicable to the company,
as there are no transactions of this nature within the
company.

Description of nature and purpose of reserve

a) Capital Reserve : The Capital reserve represents reserves created out of capital profits including profit on cancellation
/ forfeiture of the Company's equity instruments.

b) Security Premium Reserve : The Securities Premium represents the issue of securities at a premium. The reserve is
utilised in accordance with the provisions of the Act.

c) General Reserve : The general reserve comprises of transfer of profits from retained earnings for appropriation purpose.
The reserve can be distributed/utilised by the Company in accordance with the provisions of the Act.

d) Special Economic Zone Re-Investment Reserve : The Special Economic Zone (SEZ) re-investment reserve is created
out of the profit of eligible SEZ units in terms of the provisions of section 10AA(1) (ii) of the Income-tax Act, 1961. The
reserve will be utilised by the Company for acquiring new assets for the purpose of its business as per the terms of
section 10AA(2) of Income Tax Act, 1961.

e) Employee Stock Options Outstanding : This reserve represents the excess of the fair value of the options on the grant
date over the strike price which is accumulated by the Company in respect of all options that have been granted. The
Company transfers the proportionate amounts, outstanding in this account, in relation to options exercised to securities
premium on the date of exercise of such options.

f) Retained Earnings : This represent the amount of accumulated earnings of the Company.

30. Employee Stock Option
Employee Stock Option Scheme (ESOP)

Under the Employee Stock Option Plan, Compensation Committee of the Board of Directors has approved and granted share
options to the eligible employees of the company subject to requirements of vesting conditions. All the options vest in equal
tranches over a period of 3 years from the date of grant. Upon vesting, the employees can acquire one equity shares of ' 5
each for every option and secure allotment of company's shares at a price determined at the time of grant of options. The
maximum contractual term for all the stock option plans are 5 years.

ESOP 2022 scheme

The stock compensation cost of 'GENESYS ESOP SCHEME-2022' (“the scheme”) is computed under the intrinsic value
method in compliance with IND AS and amortized on straight line basis over the total vesting period of 1 to 3.9 years. Intrinsic
value is the amount by which the quoted market price of the underlying share as on the date of grant exceeds the exercise
price of the option. The intrinsic value on the date of grant approximates the fair value.

Claims against the Company amounting to ' 932.16 lakhs and ' 617.69 lakhs are not acknowledged as debts in
respect of income tax and GST matters as at March 31,2025 and March 31,2024, respectively. The claims against the
Company represent demands arising on completion of assessment proceedings by the tax departments. These matters
are pending before appellate authorities and the management including its tax advisors expect that Company's position
will likely be upheld on ultimate resolution and will not have a material adverse effect on the Company's financial
position and results of operations.

(ii) Capital Commitment:

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of Advances and
taxes) ' 191.13 Lakhs (Previous Year: ' 421.27 Lakhs).

33. Employee Benefits:

The disclosure in accordance with the requirements of Indian Accounting Standard -19 Employee Benefits are provided
below -

(A) Defined contribution plans

The Company has certain defined contribution plan.Contributions are made to provident fund and ESIC for
employees as per regulations. The contributions are made to registered provident fund administered by the
Government. The obligation of the Company is limited to the amount contributed and it has no further contractual
nor any constructive obligation.

vi. The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on
the yields / rates available on applicable bonds as on the current valuation date.

vii. The salary growth rate indicated above is the Company's best estimate of an increase in salary of the employees
in future years, determined considering the general trend in inflation, seniority, promotions, past experience and
other relevant factors such as demand and supply in employment market, etc.

viii. The weighted-average duration of the defined benefit obligation as at 31 March 2025 was 5 years.
b) Compensated absences

In respect of compensated absences, accrual is made on the basis of a year-end actuarial valuation as at balance
sheet date. The actuarial valuation is done as per Project unit credit method

The leave obligation cover the Company's liability for earned leave. The amount of the provision of ' 334.64
lakhs (31 March 2024 ' 279 lakhs) is presented as non-current and ' 58.67 lakhs (31 March 2024 ' 54.84
lakhs) is presented as current. The Company has recognised ' 85.73 lakhs (31 March 2024'82.23 lakhs) for
compensated absences in the Statement of Profit and Loss.

34. As per “IND AS - 108 on Segment reporting”, segment information is given below:

i. The Company operates only in one Primary Segment i.e. GIS based services for the purpose of IND AS - 108
Segmental reporting, hence disclosure as per IND AS 108 'Operating Segment' is not required.

ii. The disclosure requirement for Secondary Segment as per IND AS - 108 Segmental reporting is as under:

The fair value of other current financial assets, cash and cash equivalents, trade receivables investments trade payables,
short-term borrowings and other financial liabilities approximate the carrying amounts because of the short term nature of
these financial instruments.

The amortized cost using effective interest rate (EIR) of non-current financial assets consisting of security and term deposits
are not significantly different from the carrying amount.

Financial assets that are neither past due nor impaired include cash and cash equivalents, security deposits, term deposits,
and other financial assets.

B. Fair value hierarchy

The following is the hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

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

• Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

• Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

No financial assets/liabilities have been valued using level 1 fair value measurements except as disclosed below:

The carrying amount of cash and cash equivalents, trade receivables, fixed deposits, trade payables, other payables and
short-term borrowings are considered to be the same as their fair values.

C. Financial risk management objectives and policies

Financial risk Factor:

The Company's activities exposes it to a variety of financial risks : Market Risk, credit risk and liquidity risk. The Company's
focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial
performance. The Company's exposure to credit risk is influenced mainly by the individual characteristic of each customer
and the concentration of risk from the top few customers.

Market risk is the risk of any loss in future earnings, in realizable fair values or in future cash flows that may result from a
change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the
interest rates, foreign currency exchange rates, equity price fluctuations, liquidity and other market changes. Future specific
market movements cannot be normally predicted with reasonable accuracy.

i. Foreign currency exchange rate risk:

The fluctuation in foreign currency exchange rates may have a potential impact on the standalone statement of profit and loss
and equity. This arises from transactions entered into in foreign currency and assets/liabilities which are denominated in a
currency other than the functional currency of the Company.

A majority of the Company's foreign currency transactions are denominated in US Dollars. Other foreign currency transactions
entered into by the Company are in Sterling Pound (GBP), Euro, Saudi Riyal, Kuwaiti Dinar, UAE Dirham's and MUR.Thus,
the foreign currency sensitivity analysis has only been performed in respective currencies.

The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks. Further,
in accordance with its risk management policy, Company does not hedge its risks by using any derivative financial instruments.

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. Credit risk arises principally from the Company's receivables from deposits with landlords and other
statutory deposits with regulatory agencies and also arises from cash held with banks and financial institutions. The maximum
exposure to credit risk is equal to the carrying value of the financial assets. The objective of managing counterparty credit risk
is to prevent losses in financial assets. The Company assesses the credit quality of the counterparties, taking into account their
financial position, past experience and other factors.

The Company limits its exposure to credit risk of cash held with banks by dealing with highly rated banks and institutions and
retaining sufficient balances in bank accounts required to meet a month's operational costs. The Management reviews the bank
accounts on regular basis and fund drawdowns are planned to ensure that there is minimal surplus cash in bank accounts. The
Company does a proper financial and credibility check on the landlords before taking any property on lease and hasn't had a
single instance of non-refund of security deposit on vacating the leased property. The Company also in some cases ensure
that the notice period rentals are adjusted against the security deposits and only differential, if any, is paid out thereby further
mitigating the non-realization risk. The Company does not foresee any credit risks on deposits with regulatory authorities.

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

No changes were made in the objectives, policies or processes for managing capital during the current year and previous
year.

38. Additional Regulatory Information

a. There are no title deeds of Immovable Properties which are not held in name of the Company

b. Company does not have investment property, hence fair valuation of investment property is not applicable.

c. Company has not revalued any Property, Plant and Equipment (including Right-of- Use Assets)

d. Company has not revalued any Intangible Assets

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

f. The company has not been declared a wilful defaulter by any bank or financial Institution or any other lender

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

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

i. The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.

j. With respect to the Scheme of merger approved by the National Company law Tribunal during the current year, appropriate
accounting treatment as per the Scheme has been given effect in the standalone financial statement in accordance with
accounting treatment prescribed in the scheme and Ind AS 103 - Business Combination. (Refer note 41).

k. Utilisation of borrowed fund and securities premium

(i) 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

(ii) 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 of the Funding Party (Ultimate Beneficiaries) or

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

l. Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the Group from banks and financial institutions have been applied for the purposes for
which such borrowings were taken.

m. The Company does not have any undisclosed income which is not recorded in the books of account that has been
surrendered or disclosed as income during the year (previous 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.

n. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

o. The Code on Social Security 2020 ('the Code') relating to employee benefits, during the employment and post¬
employment, has received Presidential assent on September 28, 2020. The Code has been published in the Gazette
of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020.
However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the
financial impact are also not yet issued.

The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the
period in which, the Code becomes effective and the related rules to determine the financial impact are published.”

* During the previous year, the company has reduced its exposure to quoted investments and increased liquidity.

41. The Board of Directors at its meeting held on December 19, 2022 have approved the Scheme of Arrangement (“the
Scheme”) for the amalgamation of Virtual World Spatial Technologies Private Limited ('VWSTPL') (Wholly owned subsidiary
company ) with the Company w.e.f. April 1, 2023. The Company had filed the petition in connection with the Scheme with the
Hon'ble National Company Law Tribunal (“The Tribunal”). The Scheme was sanctioned by the Tribunal vide order dated July
08, 2024. Consequently, the Company has included the financial statement of amalgamated undertaking from the date of
acquisition of control i.e. April 1,2023 pursuant to the accounting treatment as prescribed in the Scheme.

The transaction was recorded in the books of the Company in previous year as per 'Pooling of Interest Method' as prescribed
in Appendix C of Indian Accounting Standard 103 on Business Combinations notified under Section 133 of the Act read with
the Companies (Indian Accounting Standards) Rules, 2015, relevant clarifications issued by the IND AS Transition Facilitation
Group (ITFG) of the Institute of Chartered Accountants of India and other generally accepted accounting principles in India or
any other relevant or related requirement under the Act, as applicable.

- Accordingly, the assets and liabilities transferred have been accounted at the carrying amounts as reflected in the books
of VWSTPL as at April 1, 2023 and no adjustments have been made to reflect the fair values, or recognize any new
assets or liabilities;

- The identity of the reserves have been preserved and are recorded in the same form and at the carrying amount as
appearing in the Standalone financial statements of Genesys International Corporation Limited (GICL);

- The inter-company balances between both have been eliminated;

42. Figures for previous year have been re-grouped/re-classified wherever necessary to correspond with the current year's
presentation.

43. On 17^th May 2025, the Company has, by way of Qualified Institutions Placement in accordance with SEBI (lssue of Capital
and Disclosure Requirements) Regulations, 2018, alloted 17,39,625 equity shares of face value of ' 5 per share at a price of
' 632.32 per share, aggregating to '11,000 lakhs.

As per our Report of even date attached For and on behalf of the Board of Directors
For M S K A & Associates of Genesys International Corporation Limited

Chartered Accountants
Firm Registration No. : 105047W

Amrish Vaidya Sajid Malik Ravi Kumar Jatavallabha V Vineet Chopra

Partner Chairman & Managing Director Chief Financial Officer Company Secretary

Membership No. 101739 DIN: 00400366 Membership No: FCS 5259

Date: 30 May 2025 Date: 30 May 2025 Date: 30 May 2025 Date: 30 May 2025

Place: Mumbai Place: Mumbai Place: Mumbai Place: Mumbai