l) Provisions

Provisions are recognised when the Company has
a present obligation (Legal or constructive) as a
result of a past event, it is probable that an outflow
of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate
can be made of the amount of the obligation. 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.

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.

m) Financial Instruments

A financial instrument is any contract that gives rise to
a financial asset of one entity and a financial liability or
equity instrument of another entity.

Financial assets

Initial recognition and measurement

All financial assets are recognized initially at fair value
plus, in the case of financial assets not recorded at

fair value through profit or loss, transaction costs
that are attributable to the acquisition of the financial
asset. A trade receivable without a significant financing
component is initially measured at the transaction price.

Equity investments

All equity investments in scope of Ind-AS 109 are
measured at fair value. Equity instruments which
are held for trading and contingent consideration
recognised by an acquirer in a business combination
to which Ind-AS 103 applies are Ind-AS classified as at
FVTPL. For all other equity instruments, the Company
may make an irrevocable election to present in other
comprehensive income subsequent changes in the
fair value. The Company makes such election on an
instrument-by-instrument basis. The classification is
made on Initial recognition and is irrevocable.

If the Company decides to classify an equity instrument
as at FVTOCI, then all fair value changes on the
instrument, excluding dividends, are recognized in the
OCI. There is no recycling of the amounts from OCI to
P&L, even on sale of investment. However, the Company
may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL
category are measured at fair value with all changes
recognized in the P&L.

Derecognition

A financial asset (or, where applicable, a part of a
financial asset or part of a Company of similar financial
assets) is primarily derecognized (i.e. removed from
the Company's balance sheet) when:

• The rights to receive cash flows from the asset
have expired, or

• The Company has transferred its rights to receive
cash flows from the asset or has assumed an
obligation to pay the received cash flows in full
without material delay to a third party under a
'pass-through' arrangements and either (a) the
Company has transferred substantially all the
risks and rewards of the asset, or (b) the Company
has neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive
cash flows from an asset or has entered into a pass¬
through arrangement, it evaluates if and to what extent
it has retained the risks and rewards of ownership.
When it has neither transferred nor retained
substantially all of the risks and rewards of the asset,
nor transferred control of the asset, the Company
continues to recognize the transferred asset to the
extent of the Company's continuing involvement. In
that case, the Company also recognizes an associated
liability. The transferred asset and the associated
liability are measured on a basis that reflects the rights
and obligations that the Company has retained.

Continuing involvement that takes the form of a
guarantee over the transferred asset is measured at
the lower of the original carrying amount of the asset
and the maximum amount of consideration that the
Company could be required to repay.

Impairment of financial assets

In accordance with Ind-AS 109, the Company applies
expected credit loss (ECL) model for measurement
and recognition of impairment loss on the following
financial assets and credit risk exposure:

a) Financial assets are measured at amortized
cost e.g., loans, debt securities, deposits, trade
receivables and bank balance

b) Trade receivables or any contractual right to
receive cash or another financial asset that result
from transactions that are within the scope of
Ind-AS 115 (referred to as 'contractual revenue
receivables' in these financial statements)

The Company follows 'simplified approach' for
recognition of impairment loss allowance on trade
receivables or contract revenue receivables.

The application of simplified approach does not require
the Company to track changes in credit risk. Rather,
it recognises impairment loss allowance based on
lifetime ECLs at each reporting date, right from its
initial recognition.

For recognition of impairment loss on other financial
assets and risk exposure, the Company determines
that whether there has been a significant increase in

the credit risk since initial recognition. If credit risk
has not increased significantly, 12-month ECL is used
to provide for impairment loss. However, if credit risk
has increased significantly, lifetime ECL is used. If, in
a subsequent period, credit quality of the instrument
improves such that there is no longer a significant
increase in credit risk since initial recognition, then the
entity reverts to recognising impairment loss allowance
based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting
from all possible default events over the expected life of
a financial instrument. The 12-month ECL is a portion of
the lifetime ECL which results from default events that
are possible within 12 months after the reporting date.

As a practical expedient, the Company uses a provision
matrix to determine impairment loss allowance on
portfolio of its trade receivables. The provision matrix is
based on its historically observed default rates over the
expected life of the trade receivables and is adjusted
for forward-looking estimates. At every reporting date,
the historical observed default rates are updated and
changes in the forward-looking estimates are analysed.

ECL impairment loss allowance (or reversal)
recognized during the period is recognized as income/
expense in the Statement of Profit and Loss. This
amount is reflected under the head 'other expenses'
in the Statement of Profit and Loss. The balance
sheet presentation for various financial instruments is
described below:

• Financial assets measured as at amortized
cost, contractual revenue receivables and lease
receivables: ECL is presented as an allowance,
i.e., as an integral part of the measurement of
those assets in the balance sheet. The allowance
reduces the net carrying amount. Until the asset
meets write-off criteria, the Company does not
reduce impairment allowance from the gross
carrying amount. For assessing increase in credit
risk and impairment loss, the Company combines
financial instruments on the basis of shared
credit risk characteristics with the objective of
facilitating an analysis that is designed to enable
significant increases in credit risk to be identified
on a timely basis.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition,
as financial liabilities at fair value through profit or loss,
loans and borrowings, payables, as appropriate. All
financial liabilities are recognised initially at fair value
and, in the case of loans and borrowings and payables,
net of directly attributable transaction cos

The Company's financial liabilities include trade and
other payables, loans and borrowings.

Subsequent measurement
Loans and borrowings

After initial recognition, interest-bearing loans
and borrowings are subsequently measured at
amortized cost using the ElR method. Gains and
losses are recognised in profit and loss when the
liabilities are derecognised as well as through the EIR
amortisation process.

Amortized cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that
are an integral part of the EIR. The ElR amortization is
included as finance costs in the Statement of Profit and
Loss. This category generally applies to borrowings.

De-recognition

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.

Offsetting of financial instruments

Financial assets and financial liabilities are offset
and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle the
liabilities simultaneously.

n) Share-based payments

Employees (including senior executives) of the
Company receive remuneration in the form of share-
based payments, whereby employees render services
as consideration for equity instruments (equity-
settled transactions).

Equity-settled transactions

The cost of equity-settled transactions is determined
by the fair value at the date when the grant is made
using an appropriate valuation model.

That cost is recognised, together with a corresponding
increase in share-based payment (SBP) reserves in
equity, over the period in which the performance and/
or service conditions are fulfilled in employee benefits
expense. The cumulative expense recognised for
equity-settled transactions at each reporting date until
the vesting date reflects the extent to which the vesting
period has expired and the Company's best estimate of
the number of equity instruments that will ultimately
vest. The statement of profit and loss expense or credit
for a period represents the movement in cumulative
expense recognised as at the beginning and end of that
period and is recognised in employee benefits expense.

Service and non-market performance conditions are
not taken into account when determining the grant date
fair value of awards, but the likelihood of the conditions
being met is assessed as part of the Company's best
estimate of the number of equity instruments that
will ultimately vest. Market performance conditions
are reflected within the grant date fair value. Any
other conditions attached to an award, but without an
associated service requirement, are considered to be
non-vesting conditions. Non-vesting conditions are
reflected in the fair value of an award and lead to an
immediate expensing of an award unless there are also
service and/or performance conditions.

No expense is recognised for awards that do not ultimately
vest because non-market performance and/or service
conditions have not been met. Where awards include a
market or non-vesting condition, the transactions are
treated as vested irrespective of whether the market or
non-vesting condition is satisfied, provided that all other
performance and/or service conditions are satisfied.

When the terms of an equity-settled award are modified,
the minimum expense recognised is the expense had
the terms had not been modified, if the original terms of
the award are met. An additional expense is recognised
for any modification that increases the total fair value of
the share-based payment transaction, or is otherwise
beneficial to the employee as measured at the date
of modification. Where an award is cancelled by the
entity or by the counterparty, any remaining element
of the fair value of the award is expensed immediately
through profit or loss.

The dilutive effect of outstanding options is reflected as
additional share dilution in the computation of diluted
earnings per share.

o) Contingent liabilities

A contingent liability is a possible obligation that arises
from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more
uncertain future events beyond the control of the
Company or a present obligation that is not recognized
because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there
is a liability that cannot be recognized because it cannot
be measured reliably. The Company does not recognize
a contingent liability but discloses its existence in
the financial statements. Contingent assets are only
disclosed when it is probable that the economic benefits
will flow to the entity.

p) 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.

For the purpose of the statement of cash flows, cash
and cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding bank
overdrafts as they are considered an integral part of
the Company's cash management. Cash flows from
operating activities are being prepared as per the
Indirect method mentioned in Ind AS 7.

interest expense, tax, depreciation and amortization
(EBITDA) as a separate line item on the face of the
statement of profit and loss. The Company measures
EBITDA on the face of profit/ (loss) from continuing
operations. In the measurement, the Company does
not include depreciation and amortization expense,
finance costs and tax expense.

r) Earnings per Share

Basic earnings per share

Basic earnings per share are calculated by dividing:

- the profit attributable to owners of the Company

- by the weighted average number of equity shares
outstanding during the financial year, adjusted for
bonus elements in equity shares issued during
the year and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share adjust the figures used
in the determination of basic earnings per share to
take into account:

- the after income tax effect of interest and other
financing costs associated with dilutive potential
equity shares, and

- the weighted average number of additional
equity shares that would have been outstanding
assuming the conversion of all dilutive
potential equity shares.

2.3. Significant accounting judgements, estimates and
assumptions

The preparation of the Company's financial statements
requires management to make judgements, estimates
and assumptions that affect the reported amounts
of revenues, expenses, assets and liabilities, and
the accompanying disclosures, and the disclosure
of contingent liabilities. 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.

The areas involving critical estimates are as below:
Defined benefit plans

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.

The parameter most subject to change is the discount
rate. In determining the appropriate discount rate for
plans operated in India, the management considers
the interest rates of government bonds in currencies
consistent with the currencies of the post-employment
benefit obligation.

The mortality rate is based on publicly available
mortality tables for the specific countries. Those
mortality tables tend to change only at interval in
response to demographic changes. Future salary
increases and gratuity increases are based on expected
future inflation rates for the respective countries.

Further details about gratuity obligations are
given in Note 28.

The areas involving critical judgement are as below:
Impairment of financial assets

The impairment provisions for financial assets are
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 Company's past
history, existing market conditions as well as forward
looking estimates at the end of each reporting period.

Taxes

Uncertainties exist with respect to the interpretation
of complex tax regulations, changes in tax laws, and
the amount and timing of future taxable income.
Given the wide range of business relationships and
the long-term nature and complexity of existing

contractual agreements, differences arising between
the actual results and the assumptions made, or
future changes to such assumptions, could necessitate
future adjustments to tax income and expense already
recorded. The Company establishes provisions,
based on reasonable estimates. The amount of
such provisions is based on various factors, such as
experience of previous tax assessments and differing
interpretations of tax regulations by the taxable entity
and the responsible tax authority. Such differences of
interpretation may arise on a wide variety of issues
depending on the conditions prevailing in the respective
domicile of the Companies.

Deferred tax assets are recognised for unused tax
losses to the extent that it is probable that taxable
profit will be available against which the losses can be
utilised. Significant management judgement 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.

Impairment of non- financial assets

The Company assesses at each reporting date whether
there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for
an asset is required, the Company estimates the asset's
recoverable amount. An asset's recoverable amount is
the higher of an asset's or CGU's fair value less costs
of disposal and its value in use. It is determined for an
individual asset, unless the asset does not generate cash
inflows that are largely independent of those from other
assets or group of assets. Where the carrying amount
of an asset or CGU exceeds its recoverable amount,
the asset is considered impaired and is written down
to its recoverable amount. In assessing value in use,
the estimated future cash flows are discounted to their
present value using a pretax discount rate that reflects
current market assessments of the time value of money
and the risks specific to the asset. In determining fair
value less costs of disposal, recent markets transactions
are taken into account. If no such transactions can be
identified, an appropriate valuation model is used. These
calculations are corroborated by valuation multiples,
quoted share prices for publicly traded subsidiaries or
other available fair value indicators.

2.4. Changes in accounting policies and disclosures

New and amended standards

The Company applied for the first-time certain
standards and amendments, which are effective for
annual periods beginning on or after 1 April 2024.
The Company has not early adopted any standard,
interpretation or amendment that has been issued but
is not yet effective.

(i) Ind AS 117 Insurance Contracts

The Ministry of corporate Affairs (MCA) notified the
Ind AS 117, Insurance Contracts, vide notification
dated 12 August 2024, under the Companies
(Indian Accounting Standards) Amendment Rules,
2024, which is effective from annual reporting
periods beginning on or after 1 April 2024.

Ind AS 117 Insurance Contracts is a comprehensive
new accounting standard for insurance contracts
covering recognition and measurement,
presentation and disclosure. Ind AS 117 replaces
Ind AS 104 Insurance Contracts. Ind AS 117 applies
to all types of insurance contracts, regardless of
the type of entities that issue them as well as to
certain guarantees and financial instruments with
discretionary participation features; a few scope
exceptions will apply. Ind AS 117 is based on a
general model, supplemented by:

• A specific adaptation for contracts
with direct participation features (the
variable fee approach)

• A simplified approach (the premium
allocation approach) mainly for short-
duration contracts

The application of Ind AS 117 had no impact on
the Company's standalone financial statements
as the Company has not entered any contracts
in the nature of insurance contracts covered
under Ind AS 117.

(ii) Amendment to Ind AS 116 Leases - Lease
Liability in a Sale and Leaseback

The MCA notified the Companies (Indian
Accounting Standards) Second Amendment Rules,
2024, which amend Ind AS 116, Leases, with
respect to Lease Liability in a Sale and Leaseback.

The amendment specifies the requirements that a
seller-lessee uses in measuring the lease liability
arising in a sale and leaseback transaction, to
ensure the seller-lessee does not recognise any
amount of the gain or loss that relates to the right
of use it retains.

The amendment is effective for annual reporting
periods beginning on or after 1 April 2024 and
must be applied retrospectively to sale and
leaseback transactions entered into after the date
of initial application of Ind AS 116.

The amendment does not have any impact on the
Company's financial statements.

Earthstone Holding (Two) Private Limited (formerly known as Earthstone Holding (Two) Limited) is the holding Company
of The Hindustan Times Limited.

ii) Transactions with related parties

Refer Note 30

iii) Terms and conditions of transactions with related parties

The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length
transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash (other
than Inter-corporate Deposit taken Refer note 13).

The management assessed that fair value of trade receivables, cash and cash equivalents, other bank balances, other current
financial assets, trade payables and other current financial liabilities approximate their carrying amounts largely due to the
short-term maturities of these instruments.

The following methods and assumptions were used to estimate the fair values:

investments in quoted equity shares are valued at closing price of stock on recognised stock exchange.

Note 34 : Segment Information

The Company operations comprise of only one segment i.e. ""Entertainment & Digital Innovation Business"". The Chief
operating decision maker (CODM) uses “Entertainment and Digital Business" as single segment to assess performance and
for allocating resources. In view of the same separate segment information is not required to be given as per the requirement
of Ind AS 108 on “Operating Segments".

There is one customer which represent 10% or more of the Company's total revenue with total amounting to Rs. 12.28 lakhs
for the year ended March 31, 2025 and one customer with total amounting to Rs. 31 lakhs for the year ended March 31,
2024 respectively.

Note 35: Financial risk management objectives and policies

The Company's principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose
of these financial liabilities is to finance the company's operations and to support its operations. The company's principal
financial assets include trade and other receivables, and cash and cash equivalents that derive directly from its operations.

The company is exposed to market risk, credit risk and liquidity risk. The companies senior management oversees the
mitigation of these risks. The Companies financial risk activities are governed by appropriate policies and procedures and
that financial risks are identified, measured and managed in accordance with the Companies policies and risk objectives.The
policies for managing each of these risks, which are summarized below:-

Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risk: currency risk, interest rate risk and equity price risk.

(i) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. Currently, the Company does not have any foreign currency risk exposure.

(ii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. The companies exposure to the risk of changes in market interest rates relates
primarily to long-term Borrowings with floating interest rates (refer note 14) .

The sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings affected, with all
other variables held constant, on floating rate borrowings is as follows:

(iii) Equity price risk

The Company invests in listed equity securities which are susceptible to market price risk arising from uncertainties
about future values of the investment securities. The Company manages the equity price risk through diversification
and by placing limits on individual and total equity instruments. Reports on the equity portfolio are submitted to the
Company's senior management on a regular basis. The Company's Investment Committee reviews and approves all
equity investment decisions. Being Level-I investment, sensitivity analyses of these investments has not been provided
in Note 33 on Fair Values.

Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables), other
financial assets, bank deposits and other financial investments.

(i) Trade receivables and other financial assets

An impairment analysis is performed at each reporting date on an individual basis for major clients. The maximum
exposure to credit risk at the reporting date is the carrying value of trade receivables and other financial assets disclosed
in Note 7 and Note 9B. The Company does not hold collateral as security.

The Company evaluates the concentration of risk with respect to trade receivables and other financial assets as low, as
its customers are located in several jurisdictions and industries and operate in largely independent markets.

The Company based on internal assessment which is driven by the historical experience/ current facts available in
relation to default and delays in collection thereof, the credit risk for trade receivables is considered low. Refer Note 7 for
movement in expected credit loss allowance of trade receivables.

Credit risk from balances with banks and financial institutions is managed by the Company's treasury department
in accordance with the Company's policy. Investments of surplus funds are made as per guidelines and within limits
approved by Board of Directors. Board of Directors/ Management reviews and update guidelines, time to time as per
requirement. The guidelines are set to minimize the concentration of risks and therefore mitigate financial loss through
counterparty's potential failure to make payments.The maximum exposure to credit risk at the reporting date is the
carrying value of financial investment and bank deposits disclosed in Note 6, Note 8 and Note 9B. The Company does not
hold collateral as security.

The Company has positive working capital position and positive Net Assets position as on 31 March, 2025. Accordingly, no

liquidity risk is perceived.

Note 36 : Statutory Information

(i) No proceeding has been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(ii) The Company has not been declared as wilful defaulter by any bank or financial Institution or other lender.

(iii) The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956.

(iv) There are no transaction which has been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961.

(v) There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

(vi) There are no funds which have been advanced or loaned or invested (either from borrowed funds or share premium
or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities
(“Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall:

a) directly or indirectly tend or invest in other persons or entities identified in any manner whatsoever (“Ultimate
Beneficiaries") by or on behalf of the Company or

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

(vii) There are no funds which have been received by the Company from any persons or entities, including foreign entities
(“Funding Parties"), 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 (“Ultimate
Beneficiaries") by or on behalf of the Funding Party or

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

(viii) The Group (as per the provisions of the Core Investment Companies (Reserve Bank) Directions, 2016) has one CICs
as part of the Group but is exempted from registration with RBI being not a Systemically Important Core Investment
Company (SI-CIC).

Note 37 : During the year ended March 31, 2025, HT Digital Streams Limited (HTDSL), a wholly owned subsidiary of the
Company, has carried out buy back of its 26.19 lacs fully paid up equity shares of INR 10 each held by the Company (representing
17% of total equity share capital of HTDSL), at a price of INR 86.75 per equity share. Impact of the buy-back has been considered
in Company's standalone financial results. The aforesaid buy-back will not entail any change in the shareholding pattern of
HTDSL, as it continues to be a wholly-owned subsidiary of the Company.

Note 38: The Company has used accounting software - SAP 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 software, except that audit trail feature was enabled at the database level from June 1,2024. Further, the Company is using
Salesforce sub-system for maintaining and processing of revenue records which is operated by a third party software service
provider, whose independent auditor has not covered testing of audit trail at database level in its SOC Type II report.

Further, there are no instance of audit trail feature being tampered with. Additionally, the audit trail of prior year has been
preserved as per the statutory requirements for record retention to the extent it was enabled and recorded in the prior year.

Note 39: Contingencies

As at March 31,2025, the Company has certain disputes pending under the Goods and Services Tax (GST) laws, which are not
acknowledged as debt, as the management believes the likelihood of an outflow of resources is not probable at this stage.
Details are as under:

Financial Year 2019-20 :

The Goods and Services Tax authorities have raised demands aggregating to INR 48 lacs for the financial year 2019-20
during the year ended March 31, 2025. Out of the total demand, the Company has paid INR 2 lacs under protest. Based on
management's assessment and legal advice, the Company is confident that no provision is required in the financial statements
as at March 31, 2025.

(Previous year: Nil Lakhs)

The Goods and Services Tax authorities have raised demands aggregating to INR 111 lacs for the financial year 2020-21
during the year ended March 31, 2025. Out of the total demand, the Company has paid INR 6 lacs under protest. Based on
management's assessment and legal advice, the Company is confident that no provision is required in the financial statements
as at March 31,2025.

(Previous year: Nil Lakhs)

Note 40 : Share-based payments

In accordance with the Securities and Exchange Board of India (Share Based Employee benefits) Regulations, 2014 and Ind
AS 102 Share-based Payment, the scheme detailed below is managed and administered, compensation benefits in respect
of the scheme is assessed and accounted by the company . To have an understanding of the scheme, relevant disclosures
are given below.

I. Restricted Stock Unit (RSU) granted by Digicontent Limited (Parent entity) to Director of Digicontent Limited
and HT Digital Streams Limited (Wholly owned Subsidiary)

This Digicontent Limited Restricted Stock Unit Plan 2025 (hereinafter referred to as "RSU 2025” or "the Plan”) has been
formulated and approved by the Nomination and Remuneration Committee (NRC) on 16th January, 2025, of Digicontent
Limited (DCL) and approved by the Board of Directors of Digicontent Limited on 16th January, 2025. The Plan was
approved by the Shareholders of Digicontent Limited by way of Postal Ballot on 24th February, 2025.

In terms of our report of even date attached

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors of

Chartered Accountants Digicontent Limited

(ICAI Firm registration Number: 101049W/E300004)

Nikhil Aggarwal Manu Chaudhary Ajay Sivaraman Nair

Partner Company Secretary Chief Financial Officer

Membership No. 504274

Puneet Jain

Chief Executive Officer

Sandeep Rao Sameer Singh

Place: New Delhi Director Director

Date: 26 May 2025 (DIN: 08711910) (DIN: 01838465)

inz