m) Provisions, Contingent Assets, and Contingent Liabilities

Provisions

Provisions for legal claims are recognised when the Company has a present legal or constructive obligation as a result of past events, it is
probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are not
recognised for future operating losses.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the
end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the
time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognised as interest expense.

Contingent liabilities

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.

Contingent Assets

Contingent assets are not recognised in the financial assets. However, the same is considered when the realisation is certain and it is no
longer considered contingent. The asset is recognised in the period in which the change from contingent asset to asset occurs.

48 Summary of Other Accounting Policies (Contd..)

n) Income Tax

The income tax expense or credit for the period is the tax payable on the current period's taxable income based on the applicable income tax rate
for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where
the deferred tax balances relate 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 realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in Standalone Statement of Profit and Loss, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity.

o) Share-based Payments

Employee options

The fair value of options granted under the DOMS Industries Limited Employee Stock Option Plan 2023 is recognised as an employee benefits expense
with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted:

(i) including any market performance conditions (for example, the entity's share price)

(ii) excluding the impact of any service and non-market performance vesting conditions (for example, profitability, sales growth targets
and remaining an employee of the entity over a specified time period)

(iii) including the impact of any non-vesting conditions (for example, the requirement for employees to save or hold shares for a specific
period of time).

The total expense is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be
satisfied. At the end of each period, the entity revises its estimates of the number of options that are expected to vest based on the non¬
market vesting and service conditions. The entity recognises the impact of the revision to original estimates, if any, in Standalone Statement
of Profit and Loss, with a corresponding adjustment to equity.

Where shares are forfeited due to a failure by the employee to satisfy the service conditions, any expenses previously recognised in relation
to such shares are reversed effective from the date of the forfeiture.

p) Borrowing cost

General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are
capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are
assets that necessarily take a substantial period of time to get ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted
from the borrowing costs eligible for capitalisation.

Other borrowing costs are expensed in the period in which they are incurred.

q) Earnings per Share

i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to equity shareholders of the Company,

• by the weighted average number of equity shares outstanding during the financial year.

ii) Diluted earnings per share

Diluted earnings per share adjusts 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

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

r) impairment of Assets

Intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually (or more frequently) for
impairment, if events or changes in circumstances indicate that they might be impaired.

Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount might not
be recoverable.

An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable
amount is the higher of an asset's fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are
grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from
other assets or group of assets (cash-generating units).

s) Dividend

Provision is made for the amount of any dividend declared, being appropriately authorised on or before the end of the reporting period, but
not distributed at the end of the reporting period. As per Corporate laws in India, a distribution in the nature of final dividend is authorised
when it is approved by the shareholders. A corresponding amount is recognised directly in equity.

t) Foreign Currency Translation

Foreign currency monetary assets and liabilities denominated in foreign currency are translated at the exchange rates prevailing on the
reporting date.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates
of the initial transactions.

Exchange differences arising on settlement or translation of monetary items are recognised as income or expense in the Standalone
Statement of Profit & Loss.

u) Rounding of amounts

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

As per our report of even date attached

For Price Waterhouse Chartered Accountants LLP For and on behalf of the Board of Directors of

Firm Registration Number: 012754N/N500016 DOMS Industries Limited (formerly known as DOMS Industries Private Limited)

CIN: L36991GJ2006PLC049275

Arunkumar Ramdas Santosh Raveshia Sanjay Rajani

Partner Managing Director Whole-time Director

Membership Number: 112433 DIN: 00147624 DIN: 03329095

Place: Umbergaon, India Place: Umbergaon, India Place: Umbergaon, India

Date: May 19, 2025 Date: May 19, 2025 Date: May 19, 2025

Rahul Shah Mitesh Padia

Chief Financial Officer Company Secretary

Membership Number: A58693

Place: Umbergaon, India Place: Umbergaon, India

Date: May 19, 2025 Date: May 19, 2025