Deep Industries Ltd. இன் கணக்கு குறிப்புகள்

l) Provisions, contingent liabilities and contingent
assets
Provisions

A provision is recognised when the Company has a
present obligation (legal or constructive) as a result of
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 recognised as a
finance cost.

Contingent liabilities

A contingent liability is a possible obligation that arises
from past events and 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 enterprise. Contingent liabilities are
disclosed by way of note to the financial statements.

Contingent Assets

A contingent asset is a possible asset that arises 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 enterprise.

Contingent assets are neither recognised nor disclosed
in the financial statements.

m) Retirement and other employee benefits
Provident fund

Retirement benefit in the form of Provident Fund is a
defined contribution scheme. The Company has no
obligation, other than the contribution payable to the
provident fund. The Company recognises contribution
payable to the provident scheme as an expenditure,
when an employee renders the related service. If the
contribution payable to the scheme for service received
before the Balance Sheet date exceeds the contribution
already paid, the deficit payable to the scheme is
recognised as a liability after deducting the contribution
already paid. If the contribution already paid exceeds the
contribution due for services received before the Balance
Sheet date, then excess is recognised as an asset to the
extent that the pre-payment will lead to, for example, a
reduction in future payment or a cash refund.

Gratuity

Gratuity liability is defined benefit obligation and is
provided for on the basis of an actuarial valuation on
projected unit credit (PUC) method made at the end
of each financial year. The Company contributes to
Life Insurance Corporation of India (LIC) and SBI Life
Insurance Company Limited, a funded defined benefit
plan for qualifying employees.

The cost of providing benefits under the defined benefit
plan is determined using the projected unit credit
method.

Remeasurements, comprising of actuarial gains and
losses, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit
liability and the return on plan assets (excluding
amounts included in net interest on the net defined
benefit liability), are recognised immediately in the
Balance Sheet with a corresponding debit or credit to
retained earnings through OCI in the period in which
they occur. Remeasurements are not reclassified to
Statement of Profit and Loss in subsequent periods.

Past service costs are recognised in Statement of Profit
and Loss on the earlier of:

? The date of the plan amendment or curtailment, and

? The date that the Company recognises related
restructuring costs.

Net interest is calculated by applying the discount rate
to the net defined benefit liability or asset. The Company
recognises the following changes in the net defined
benefit obligation as an expense in the Statement of
Profit and Los:

? Service costs comprising current service costs,
past-service costs, gains and losses on curtailments
and non-routine settlements; and

? Net interest expense or income

Short-term employee benefits

The undiscounted amount of short-term employee
benefits expected to be paid in exchange for the
services rendered by employees are recognised on an
undiscounted accrual basis during the year when the
employees render the services. These benefits include
performance incentive and compensated absences
which are expected to occur within twelve months after
the end of the period in which the employee renders
the related services.

Long-term employee benefits

Other long term employee benefits comprise
of compensated absences/leaves. Provision for
Compensated Absences and its classifications between
current and non-current liabilities are based on
independent actuarial valuation. The actuarial valuation
is done as per the projected unit credit method.

n) 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

Financial assets are classified, at initial recognition, as
subsequently measured at amortised cost, fair value
through other comprehensive income (OCI), and fair
value through profit or loss.

The classification of financial assets at initial recognition
depends on the financial asset''s contractual cash flow
characteristics and the company''s business model for
managing them. With the exception of trade receivables
that do not contain a significant financing component
or for which the Company has applied the practical
expedient, the Company initially measures a financial
asset at its fair value plus, in the case of a financial asset
not at fair value through profit or loss, transaction costs.
Trade receivables that do not contain a significant
financing component or for which the Company has
applied the practical expedient are measured at the
transaction price determined under Ind AS 115. Refer
to the accounting policies in section "Revenue from
contracts with customer".

In order for a financial asset to be classified and
measured at amortised cost or fair value through OCI,
it needs to give rise to cash flows that are ''solely
payments of principal and interest (SPPI)'' on the
principal amount outstanding. This assessment is
referred to as the SPPI test and is performed at an
instrument level. Financial assets with cash flows that
are not SPPI are classified and measured at fair value
through profit or loss, irrespective of the business
model.

The Company''s business model for managing financial
assets refers to how it manages its financial assets
in order to generate cash flows. The business model
determines whether cash flows will result from
collecting contractual cash flows, selling the financial
assets, or both. Financial assets classified and measured
at amortised cost are held within a business model with
the objective to hold financial assets in order to collect
contractual cash flows while financial assets classified
and measured at fair value through OCI are held within
a business model with the objective of both holding to
collect contractual cash flows and selling.

Purchases or sales of financial assets that require
delivery of assets within a time frame established by
regulation or convention in the marketplace (regular
way trades) are recognized on the trade date, i.e., the
date that the Company commits to purchase or sell the
asset.

Subsequent measurement

For purposes of subsequent measurement, financial
assets are classified in four categories:

? financial assets at amortised cost

? financial assets at fair value through other
comprehensive income (FVTOCI) with recycling of
cumulative gains and losses

? financial assets designated at fair value through
OCI with no recycling of cumulative gains and
losses upon derecognition (equity instruments)

? financial assets at fair value through profit or loss

Financial assets at amortised cost

Financial assets is measured at the amortised cost if
both the following conditions are met:

a) The asset is held within a business model whose
objective is to hold assets for collecting contractual
cash flows, and

b) Contractual terms of the asset give rise on specified
dates to cash flows that are solely payments
of principal and interest (SPPI) on the principal
amount outstanding.

This category is the most relevant to the Company.
After initial measurement, such financial assets are
subsequently measured at amortised cost using the
Effective Interest Rate (EIR) method. Amortised 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 EIR amortisation is included
in other income in the Statement of Profit and Loss. The
losses arising from impairment are recognised in the
Statement of Profit and Loss. This category generally
applies to trade receivables, security deposits and other
receivables.

Financial assets at fair value through other
comprehensive income (FVTOCI)

A ''financial asset'' is classified as at the FVTOCI if both of
the following criteria are met:

a) The objective of the business model is achieved
both by collecting contractual cash flows and
selling the financial assets, and

b) The asset''s contractual cash flows represent Solely
Payments of Principal and Interest.

Debt instruments included within the FVTOCI category
are measured initially as well as at each reporting date
at fair value. For debt instruments, at fair value through
other comprehensive income (OCI), interest income,
foreign exchange revaluation and impairment losses
or reversals are recognised in the profit or loss and
computed in the same manner as for financial assets
measured at amortised cost. The remaining fair value
changes are recognised in OCI. Upon derecognition,
the cumulative fair value changes recognised in OCI is
reclassified from the equity to profit or loss

The Company''s debt instruments at fair value through
OCI includes investments in quoted debt instruments
included under other non-current financial assets.

Financial assets designated at fair value through OCI
(equity instruments)

Upon initial recognition, the Company can elect to
classify irrevocably its equity investments as equity
instruments designated at fair value through OCI
when they meet the definition of equity under Ind
AS 32 Financial Instruments: Presentation and are not
held for trading. The classification is determined on an
instrument-by-instrument basis. Equity instruments
which are held for trading and contingent consideration
recognised by an acquirer in a business combination to
which Ind AS103 applies are classified as at FVTPL.

Gains and losses on these financial assets are never
recycled to profit or loss. Dividends are recognised as
other income in the statement of profit and loss when

the right of payment has been established, except when
the Company benefits from such proceeds as a recovery
of part of the cost of the financial asset, in which case,
such gains are recorded in OCI. Equity instruments
designated at fair value through OCI are not subject to
impairment assessment.

The Company elected to classify irrevocably its non-
listed equity investments under this category.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss
are carried in the balance sheet at fair value with net
changes in fair value recognised in the statement of
profit and loss.

This category includes derivative instruments and
listed equity investments which the Company had not
irrevocably elected to classify at fair value through OCI.
Dividends on listed equity investments are recognised
in the statement of profit and loss when the right of
payment has been established.

Derecognition

A financial asset (or, where applicable, a part of a
financial asset or part of a group of similar financial
assets) is primarily derecognised (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'' arrangement; 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 recognise
the transferred asset to the extent of the Company''s
continuing involvement. In that case, the Company also
recognises 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 that are debt instruments, and
are measured at amortised cost e.g., loans, debt
securities, deposits, and bank balance.

b) Trade receivables.

The Company follows ''simplified approach'' for
recognition of impairment loss allowance on trade
receivables which do not contain a significant financing
component. 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. The Company uses a provision
matrix to determine impairment loss allowance on
the portfolio of trade receivables. The provision matrix
is based on its historically observed default rates over
the expected life of the trade receivable and is adjusted
for forward looking estimates. At every reporting date,
historical observed default rates are updated and
changes in the forward- looking estimates are analysed.

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, or as derivatives
designated as hedging instruments in an effective
hedge, as appropriate.

All financial liabilities are recognised initially at fair value
and, in the case of payables, net of directly attributable
transaction costs.

The Company''s financial liabilities include trade and
other payables, loans and borrowings including bank
overdrafts and derivative financial instruments.

Subsequent measurement

For purposes of subsequent measurement, financial
liabilities are classified in two categories:

? Financial liabilities at fair value through profit or loss

? Financial liabilities at amortised cost (loans and
borrowings)

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss
include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair
value through profit or loss.

Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in
the near term. This category also includes derivative
financial instruments entered into by the Company that
are not designated as hedging instruments in hedge
relationships as defined by Ind AS 109. Separated
embedded derivatives are also classified as held for
trading unless they are designated as effective hedging
instruments.

Gains or losses on liabilities held for trading are
recognised in the profit or loss.

Financial liabilities designated upon initial recognition
at fair value through profit or loss are designated as such
at the initial date of recognition, and only if the criteria
in Ind AS 109 are satisfied. For liabilities designated as
FVTPL, fair value gains/ losses attributable to changes in
own credit risk are recognized in OCI. These gains/ losses
are not subsequently transferred to Profit and Loss.
However, the Company may transfer the cumulative
gain or loss within equity. All other changes in fair value
of such liability are recognised in the statement of profit
and loss. The Company has not designated any financial
liability as at fair value through profit or loss.

Financial liabilities at amortised cost (Loans and
borrowings)

After initial recognition, interest-bearing loans and
bo rrowi ngs are subseq uently measu red at a mortised cost
using the EIR method. Gains and losses are recognised in
profit or loss when the liabilities are derecognised as well
as through the EIR amortisation process.

Amortised 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 EIR amortisation
is included as finance costs in the statement of profit and
loss. Th is category genera l ly a ppl ies to bo rrowi ngs.

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 derecognition 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.

Reclassification of financial assets

The Company determines classification of financial
assets and liabilities on initial recognition. After initial
recognition, no reclassification is made for financial
assets which are equity instruments and financial
liabilities. For financial assets which are debt instruments,
a reclassification is made only if there is a change in the
business model for managing those assets. Changes to
the business model are expected to be infrequent. The
Company''s senior management determines change
in the business model as a result of external or internal
changes which are significant to the Company''s
operations. Such changes are evident to external parties.
A change in the business model occurs when the
Company either begins or ceases to perform an activity
that is significant to its operations. If the Company
reclassifies financial assets, it applies the reclassification
prospectively from the reclassification date which is
the first day of the immediately next reporting period
following the change in business model. The Company
does not restate any previously recognised gains, losses
(including impairment gains or losses) or interest.

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 recognized amounts and there is an intention to
settle on a net basis, to realize the assets and settle the
liabilities simultaneously.

o) Derivative financial instruments

The Company uses derivative financial instruments
such as foreign currency forward contracts and option
currency contracts to hedge its foreign currency risks
arising from highly probable forecast transactions. The
counterparty for these contracts is generally a bank.

Derivatives not designated as hedging instruments

This category has derivative assets or liabilities which
are not designated as hedges.

Although the Company believes that these derivatives
constitute hedges from an economic perspective, they
may not qualify for hedge accounting under Ind AS 109.
Any derivative that is either not designated a hedge,
or is so designated but is ineffective, is recognized
on balance sheet and measured initially at fair value.
Subsequent to initial recognition, derivatives are re¬
measured at fair value, with changes in fair value
being recognized in the statement of profit and loss.
Derivatives are carried as financial assets when the fair
value is positive and as financial liabilities when the fair
value is negative.

p) Cash & 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, that
are readily convertible to a known amount of cash and
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.

q) Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss attributable to equity holders of the
Company by the weighted average number of equity
shares outstanding during the period. The weighted
average number of equity shares outstanding during
the period is adjusted for events such as bonus issue,
bonus element in a rights issue, 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 shareholders of the Company and the weighted
average number of shares outstanding during the
period are adjusted for the effects of all dilutive potential
equity shares.

r) Dividend

The Company recognises a liability to pay dividend
to equity holders of the parent when the distribution
is authorised, and the distribution is no longer at the
discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved
by the shareholders. A corresponding amount is
recognised directly in equity.

s) Investment in subsidiaries, joint ventures and
associates

Equity investments in subsidiaries, joint ventures and
associates are shown at cost less impairment, if any.
The Company tests these investments for impairment
in accordance with the policy applicable to ''Impairment
of non-financial assets''. Where the carrying amount of
an investment or CGU to which the investment relates
is greater than its estimated recoverable amount, it is
written down immediately to its recoverable amount
and the difference is recognized in the Statement of
Profit and Loss.

2.2 Critical accounting judgements and key sources of
estimation uncertainty

In the application of the Company accounting policies,
the management of the Company is required to make
judgements, estimates and assumptions about the carrying
amounts of assets and liabilities that are not readily
apparent from other sources. 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 periods if the revision affects both current
and future periods.

The following are the areas of estimation uncertainty and
critical judgements that the management has made in the
process of applying the Company''s accounting policies
and that have the most significant effect on the amounts
recognised in the financial statements:

Useful lives of Intangible assets

The intangible assets are amortised over the estimated
useful life. The estimated useful life and amortisation method
are reviewed at the end of each reporting period, with the
effect of any changes in estimate being accounted for on a
prospective basis.

Useful lives of depreciable tangible assets

Management reviews the useful lives of depreciable assets
at each reporting date. As at March 31, 2026 management
assessed that the useful lives represent the expected utility of
the assets to the Company.

Defined benefit 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 that
may differ from actual developments in the future. These
include the determination of the discount rate, future salary
increases, mortality rates and future pension increases. 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.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash
generating unit exceeds its recoverable amount, which is the

higher of its fair value less costs of disposal and its value in
use. The fair value less costs of disposal calculation is based
on available data from binding sales transactions, conducted
at arm''s length, for similar assets or observable market prices
less incremental costs for disposing of the asset. The value
in use calculation is based on a DCF model. The cash flows
are derived from the budget for determined period and do
not include restructuring activities that the Company is not
yet committed to or significant future investments that will
enhance the asset''s performance of the CGU being tested. The
recoverable amount is sensitive to the discount rate used for
the DCF model as well as the expected future cash-inflows, the
growth rate used for extrapolation purposes and the impact of
general economic environment (including competitors).

Impairment of Goodwill

The company tests on an annual basis, goodwill arising on
business combination amounting to 38,488.48 lakhs (Net)
(March 31, 2024: 38,488.48 lakhs (Net)) which has been
allocated to the respective Cash Generating Unit ("CGU")
for impairment. Based on the annual impairment test no
provision towards impairment was required necessary. The
recoverable amounts of the CGUs are determined from value-
in-use calculations and the projections based on the period
of the projections. The key assumptions for the value-in-use
calculations are those regarding discount rates, growth rates,
capital expenditure, and expected increase in direct costs.
Management estimates discount rates using post-tax rates
that reflect current market assessments of the time value
of money. The growth rates are based on management''s
forecasts. Changes in direct costs are based on past practices
and expectations of future changes in the market.

3 Recent pronouncements:

The below amendments to the existing standard which
are notified by Ministry of Corporate affairs but are not yet
effective:

Amendment to Ind AS 1 ''Presentation of Financial Statements''-
Classification of Liabilities as current or non-current and non¬
current liabilities with covenants. The amendment includes
specific provisions that will take effect for reporting periods
beginning on or after 1 April 2026, retrospectively, as outlined
below:

a) Breach of material covenant for long-term loan
arrangement on or before end of reporting period with
effect that liability becomes payable on demand as
on reporting date, then it shall be classified as current
liability, if lender agreed after reporting period and
before approval of financial statements to not demand
payment as a consequence of breach.

b) Classify as non-current liability, if lender agreed by end of
reporting period to provide grace period ending at least
12 months after reporting period within which entity
can rectify the breach provided lender does not demand
immediate repayment.

c) Disclose information about the timing of settlement to
understand the impact of the liability on the financial
statements.

The Company does not expect this amendment to have an
impact on its operations or Standalone financial statements.

19(d) The Company has only one class of equity shares having par value of '' 5 per share. Each holder of equity shares is entitled to one
vote per share. The dividend if proposed by the Board of Directors is subject to approval of the shareholders in the ensuring Annual
General Meeting. In the event of liquidation of the Company the holders of the equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity
shares held by the shareholder.

19(e) There are no shares issued pursuant to contract without payment being received in cash, allotted as fully paid up by way of bonus
shares and bought back during the last 5 years.

40 Segment Reporting

As per para 4 of Ind AS 108 " Operating Segments", if a single financial report contains both Consolidated Financial Statements and
the separate financial statement of the Parent Company, segment information may be presented on the basis of the Consolidated
Financial Statement. Thus, the information related to disclosure of operating segments required under Ind AS 108 " Operating
Segments", is given in Consolidated Financial Statements.

40(b) There is one customer accounted for more than 10% of the revenue during the year 2025-26 and one customer having outstanding
balance of more than 10% of the total receivables on 31^st March, 2026.

41 Employee Benefit Plans

In accordance with the stipulations of the Indian Accounting Standard 19 "Employee Benefits", the disclosures of employee benefits
as defined in the Indian Accounting Standard are given below:

(a) Defined Contribution Plan
Provident Fund

The Company has recognized the following amounts in the statement of Profit and Loss.

Employers ''Contribution to Provident Fund

The Company has recognized an amount of '' 41.66 Lakhs (P.Y.? 37.40 Lakhs) as expenses under the defined contribution plan
in the Statement of Profit and Loss.

(b) Defined Benefit Plan
Gratuity

In accordance with Indian Accounting Standard 19, Actuarial valuation was done in respect of the aforesaid defined benefit
plans based on the following assumptions:

The following table sets out the status of the gratuity and the amounts recognized in the Company''s financial statements as at
31^st March, 2026.

Financial Assumptions

The discount rate and salary increases assumed are the key financial assumptions and should be considered together, it is the
difference or ''gap'' between these rates which is more important than the Individual rates in isolation.

Discount Rate

The rate used to discount other long term employee benefit obligation ( both funded and unfunded) shall be determined by
reference to market yield at the Balance date on high quality corporate bonds. In Countries where there is no deep market in
such bonds the market yields( at the Balance sheet date) on government bonds shall be used. The currency and term of the
corporate bond or government bond shall be consistent with estimated term of the post employment benefit obligation.

Salary Escalation Rate

This is Management''s estimate of the increases in the salaries of the employees over the long term. Estimated future salary
increases should take account of inflation, seniority, promotion an other relevant factors such as supply and demand in the
employment market.

Notes :

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation
as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be
correlated. Further more, in presenting the above sensitivity analysis the present value of the defined benefit obligations has
been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in
calculating the defined benefit obligation liability recognised in the balance sheet.

(d) The Government of India has notified the implementation of the four new Labour Codes, consolidating and rationalising 29 existing
labour laws, with effect from November 21,2025. Pursuant to the said implementation, the Company has restructured and realigned
its wage structure, including modification and redistribution of various wage components, to align with the provisions of the new
Labour Codes. The Company continues to monitor the finalization of Central and State Rules and further clarifications from the
Government on various aspects of the Labour Codes. Appropriate accounting impact, if any, arising from such developments shall be
recognised as and when required.

42 Expenditure towards Corporate Social Responsibility (CSR) activities:

In accordance with the provisions of Section 135 of the Companies Act,2013, Schedule VII and Companies ( Corporate Social
Responsibility Policy) Rules,2014 as amended, the Board of Directors of the Company had constituted a Corporate Social Responsibility
(CSR) Committee. In terms of the provisions of the said Act, the Company was required to Spend ''273.00 Lakhs (previous year ''213.00
lakhs) towards CSR activities during the year ended 31^st March, 2026. The Company has incurred following expenditure towards CSR
activities for the benefit of general public and in the neighbourhood of the Company.

Note :

i) The above related party transactions have been reviewed periodically by the Board of Directors of the Company vis-a¬
vis the applicable provisions of the Companies Act,2013, and justification of the rates being charged/terms thereof and
approved the same.

ii) The details of guarantees and collaterals extended by the related parties in respect of borrowings of the Company have
been given at the respective notes.

48 Financial Risk Management Objectives

The Company''s Risk Management framework encompasses practices relating to the indentification,analysis,evaluation,treadment
mitigation and monitoring of the strategic, external and operational controls risks to achieving the Company''s business objectives.
It seeks to minimize the adverse impact of these risks, thus enabling the Company to leverage market opportunities effectively and
enhance its long term competitive advantage. The focus of risk management is to assess risks and deploy mitigation measures.

The Company''s actives expose it to variety of financial risks namely market risk, credit risk and liquidity risk. The Company has
various financial assets such as deposits, other receivables and cash and bank balances directly related to the business operations.
The Company''s principal financial liabilities comprise of trade and other payables. The Company''s senior management''s focus is
to foresee the unpredictability and minimize potential adverse effects on the Company''s financial performance. The Company''s
overall risk management procedures to minimize the potential adverse effects of financial market on the Company''s performance
are outlined hereunder :

The Company''s Board of Directors have overall responsibility for the establishment and oversight of the Company''s risk management
framework.

The Company''s risk management is carried out by the management in consultation with the Board of Directors. They provide
principles for overall risk management, as well as policies covering specific risk areas.

The note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

(A) Credit Risk

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 and arises principally from the Company''s receivables from customers and from its financial activities
including deposits with banks and other financial instruments.

(i) Trade Receivables

The Company periodically assesses the financial reliability of customers, taking into account the financial condition, current
economic trends and ageing of accounts receivable. Individual risk limits are set accordingly. The Company performs
impairment analysis at each reporting date using expected credit loss model. The Company does not hold collateral as
security.

The Company assesses expected credit losses on trade receivables in accordance with Ind AS 109. Specific provisions are
made for disputed receivables and balances with identified recoverability issues. For the remaining receivables, including
those from Government Entities, management has concluded that the probability of default is remote based on the
counterparty''s creditworthiness and historical recovery experience; accordingly, no expected credit loss provision has
been recognised.

(ii) Cash and Cash Equivalents :

The Company considers factors such as track record, size of institution, market reputation and service standard to select
the banks with which deposits are maintained. The Company does not maintain significant deposit balances other than
those required for its day to day operations. Credit risk on cash and cash equivalents is limited as these are generally held
or invested in deposits with banks and financial institutions with good credit ratings.

(iii) Financial Assets :

The Company''s customer profile include Government Companies and Industries. Accordingly, the Company''s customer
credit risk is moderate. The Company has a detailed review mechanism of overdue customer receivables at various levels
within organization to ensure proper attention and focus for realization.

(B) Liquidity Risk

Liquidity risk is the risk that the Company will face in meeting its obligation associated with the financial liabilities'' Company''s
approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring
unacceptable losses. In doing this, management considers both normal and stressed conditions.

The Company''s objective is to maintain optimum levels of liquidity to meet its Cash and collateral requirements. The Company
relies on a mix of borrowings, capital and excess operating cash flow to meet its needs for funds. The current Committed lines of
credit are sufficient to meet its short to medium term expansion needs. The Company monitors rolling forecasts of its liquidity
requirements to ensure that it has sufficient cash to meet operational needs.

The table below provides undiscounted cash flows towards non derivative financial assets/(liabilities) into relevant maturity
based on the remaining period at the balance sheet date to the contractual maturity date and where applicable, their effective
interest rates.

(C) 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 risks: Foreign currency risk, interest risk and other price risk such as commodity risk.

(i) Interest rate risk

The Company''s exposure to the risk of changes in market interest rates relates primarily to debts having floating rate of
interest. Its objective in managing its interest rate risk is to ensure that it always maintains sufficient head room to cover
interest payment from anticipated cash flows which are regularly reviewed by the Board.

(ii) 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 and arises where transactions are done in foreign currencies. It arises mainly where receivables and
payable exist due to transactions entered in foreign currencies. The Company evaluates exchange rate exposure arising
from foreign currency transactions and follow approved policy parameters utilizing forward foreign exchange contracts
whenever felt necessary. The Company does not enter into financial instrument transactions for trading or speculative
purpose.

The carrying amounts of the Company''s unhedged foreign currency transactions at the end of the reporting period are as
follows:

(iii) Commodity Risk :

The Company is exposed to the movement in the price of key raw materials and other traded goods in the domestic and
international markets. The Company has in place policies to manage exposure to fluctuation in prices of key raw material
used in operations. The Company enters into contracts for procurement of raw materials and traded Goods, most of the
transactions are short term fixed price contracts and a few transactions are long term fixed price contracts.

(D) Capital Management

The Company manages its capital to be able to continue as as going concern while maximising the returns to shareholders
through optimisation of the debt and equity balances. For the purpose of calculating gearing ratio, debt is defined as
non current and current borrowings (excluding derivatives). Equity includes all capital and reserves of the Company
attributable to equity holders of the Company. The Company is not subject to externally imposed capital requirements.
The board review the capital structure and cost of capital on an annul basis but has not set specific targets for gearing
ratios. This risks associated with each class of capital are also considered as part of the risk reviews presented to the Board
of Directors.

Disclosures

This section gives an overview of the significance of financial instruments for the Company and provides additional
information on balance sheet items that contain financial instruments.

49 Amalgamation of Kandla Energy And Chemicals Limited (Wholly owned Subsidiary Company) with
the company

49.1 The Board of Directors of the Company in its meeting held on, June 30, 2025, had approved the Scheme of Amalgamation under
Sections 230-232 of the Companies Act, 2013 and in the matter of Scheme of Amalgamation of Kandla Energy & Chemicals Limited
("KECL")- Wholly owned Subsidiary with and into Deep Industries Limited ("DIL") and their respective shareholders and creditors. The
aforesaid Scheme was sanctioned by Hon''ble National Company Law Tribunal (NCLT) Ahmedabad Bench vide order no. C.P.(CAA)/53
(AHM)2025 dated March 23, 2026. The Scheme has become effective from March 30, 2026 upon filing of the certified copy of the
orders passed by NCLT with the relevant Registrar of Companies in Form INC-28 on March 30, 2026. The accounting treatment has
been carried out in accordance with applicable Indian Accounting Standards (Ind AS), including principles prescribed under Ind AS
103. The Appointed Date of the Scheme is March 31,2025, consequently, the comparative figures for the previous period/year have
been restated/reclassified, wherever considered necessary, to give effect to the amalgamation and to ensure comparability with the
current year figures. along with Previous year''s figures have been re-grouped/re-arranged/re-casted, wherever necessary, so as to
make them comparable with current year''s figures. The management believes that such reclassification does not have any material
impact on the information presented in the financial statements.

52 Borrowing based on security of current assets

The company has been sanctioned working capital limits from banks on the basis of security mentioned in Note No.24(a). The
quarterly returns/statements filed by the Company with such banks are materially in agreement with the books of accounts.

53 Relationship with Struck off Companies

The Company does not have carried out any transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of the Companies Act, 1956. There is no outstanding balance as at 31^st March, 2026 in case of said struck off company.

54 The Company evaluates events and transactions that occur subsequent to the Balance Sheet date prior to the approval of the
financial statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the
Financial Statements. As of May 14, 2026 there was no subsequent event to be recognised or reported that are not already disclosed
elsewhere in these Financial Statements.

55 In the opinion of the Management, current assets have a value on realisation in the ordinary course of business at least equal to the
amount at which they are stated except where indicated otherwise.

56 Additional information as required under para 2 of General Instruction of Division II of Schedule III to the Companies Act, 2013

(56a) The Company has not carried out any revaluation of Property, Plant and Equipment in any of the period reported in the Financial
Statement hence reporting is not applicable.

(56b) The Company does not have hold any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)
and the rules made thereunder. 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 the rules made thereunder.

(56c) The Company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

(56d) The Company does not have any such transaction which is 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 survey or any other
relevant provisions of the Income Tax Act,1961).

(56e) The Company has not advanced or loaned or invested funds to any other person(s) pr 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.

(56f) 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:

- 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

- provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(56g) As on March 31,2026 there is no unutilised amounts in respect of any issue of securities and long term borrowings from banks and
financial institutions. The borrowed funds have been utilised for the specific purpose for which the funds were raised.

(56h) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(56i) The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read with
the Companies (Restriction on number of Layers) Rules,2017.

57 Audit Trail Compliance - The Company has used accounting software 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 is not enabled for direct changes to database level. Further, no instance of audit trail feature
being tampered with was noted in respect of accounting software(s) where the audit trail has been enabled. Additionally, the audit
trail of prior year(s) has been preserved by the Company as per the statutory requirements for record retention to the extent it was
enabled and recorded in the respective years.

58 In standalone financial results "Exceptional item" for the quarter and year ended March 31,2026 of Rs. 20,828.49 Lakhs represents; One
time loss due to cleaning up exercise post merger of Kandla Energy and Chemicals Ltd. Following the acquisition of the Kandla Energy
and Chemicals Limited (Kandla) in March, 2025, management adopted a conservative accounting approach regarding inherited trade
receivables, the company deferred the recognition of certain legacy receivables pending a full recoverability assessment. We initiated
a comprehensive, 12-month reconciliation and recovery program to validate the collectability of these old trade receivables. After
a year of intensive collection efforts and due diligence, it was determined that these old trade receivables do not meet our criteria
for realization. Consequently, to ensure a transparent and high-quality balance sheet, as a part of our balance sheet strengthening
exercise the company has elected to write off these legacy trade receivables. This non-recurring and non-cash adjustment reflects
our commitment to financial discipline.

59 The Standalone Financial Statements for the year ended March 31,2026 have been received by the Audit Committee and approved
by the Board of Directors at their meeting held on 14^th May 2026.

17(d) The Board of Directors at its meeting held on 6th Febuary,2023 approved the sub division of its Equity shares of face value '' 10 each into Equity shares of face value '' 5 each. The said sub division was further approved by this Share holder through Postal Ballot on 16th March,2023. The Company had fixed 10th April,2023 as the record date for the purpose of sub-division of the Equity Shares.

17(e) The Company has only one class of equity shares having par value of '' 5 per share. Each holder of equity shares is entitled to one vote per share. The dividend if proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

17(f) There are no shares issued pursuant to contract without payment being received in cash, allotted as fully paid up by way of bonus shares and bought back during the last 5 years.

18(d) Retained Earnings amount that can be distributed as dividend considering the requirements of Companies Act,2013. For the year ended March 31,2025,the Board of Directors has recommended a final dividend of ''3.05 Per share, subject to approval from Shareholders at the Annual General Meeting and if approved, would result in a cash outflow of '' 1,952.00 Lakhs (March 31, 2024 '' 1,561.60 Lakhs).

On account of Scheme of Arrange approved by Hon''ble NCLT, the Company recognised "Goodwill" in the books of account. On the said Goodwill, the Company was claiming amortisation in the books of account and depreciation in the Tax Laws while filling return of income for assessment year up to 2020-21. Now , with the amendment brought in by Finance Bill,2021 on prospective basis, no depreciation would be allowable on goodwill on April,2020 (Assessment Year 2021-22 onwards). As per change, Goodwill of a business or profession will not be considered as a depreciable assets and there would not be any depreciation on goodwill of a business or profession on any situation. Accordingly, the Company is required to reverse majority of its deferred tax liability created in earlier years (i.e. demerger effective from 1st April,2017) and bring its deferred tax provision at par with requirement of the law.

38 Employee Benefit Plans

I n accordance with the stipulations of the Indian Accounting Standard 19 "Employee Benefits", the disclosures of employee benefits as defined in the Indian Accounting Standard are given below:

(a) Defined Contribution Plan Provident Fund

The Company has recognized the following amounts in the statement of Profit and Loss.

Employers ''Contribution to Provident Fund

The Company has recognized an amount of '' 37.40 Lakhs (P.Y.? 38.24 Lakhs) as expenses under the defined contribution plan in the Statement of Profit and Loss.

(b) Defined Benefit Plan Gratuity

I n accordance with Indian Accounting Standard 19, Actuarial valuation was done in respect of the aforesaid defined benefit plans based on the following assumptions:

The following table sets out the status of the gratuity and the amounts recognized in the Company''s financial statements as at 31st March 2025.

Financial Assumptions

The discount rate and salary increases assumed are the key financial assumptions and should be considered together, It is the difference or ''gap'' between these rates which is more important than the Individual rates in isolation.

Discount Rate

The rate used to discount other long term employee benefit obligation ( both funded and unfunded) shall be determined by reference to market yield at the Balance date on high quality corporate bonds. In Countries where there is no deep market in such bonds the market yields( at the Balance sheet date) on government bonds shall be used. The currency and term of the corporate bond or government bond shall be consistent with estimated term of the post employment benefit obligation.

Salary Escalation Rate

This is Management''s estimate of the increases in the salaries of the employees over the long term. Estimated future salary increases should take account of inflation ,seniority, promotion and other relevant factors such as supply and demand in the employment market.

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be

correlated. Furthermore, in presenting the above sensitivity analysis the present value of the defined benefit obligations has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

39 Expenditure towards Corporate Social Responsibility (CSR) activities:

In accordance with the provisions of Section 135 of the Companies Act,2013, Schedule VII and Companies ( Corporate Social Responsibility Policy) Rules,2014 as amended, the Board of Directors of the Company had constituted a Corporate Social Responsibility (CSR) Committee. In terms of the provisions of the said Act, the Company was required to Spend ''213.00 Lakhs (previous year ''114.78 lakhs) towards CSR activities during the year ended 31st March,2025. The Company has incurred following expenditure towards CSR activities for the benefit of general public and in the Neighborhood of the Company.

(iii) Financial liabilities valued though amortised cost method, hence Fair value of Financial liabilities not required to disclosed.

44 Financial Risk Management Objectives

The Company''s Risk Management framework encompasses practices relating to the indentification,analysis,evaluation,treadment mitigation and monitoring of the strategic, external and operational controls risks to achieving the Company''s business objectives. It seeks to minimize the adverse impact of these risks, thus enabling the Company to leverage market opportunities effectively and enhance its long term competitive advantage. The focus of risk management is to assess risks and deploy mitigation measures.

The Company''s actives expose it to variety of financial risks namely market risk, credit risk and liquidity risk. The Company has various financial assets such as deposits, other receivables and cash and bank balances directly related to the business operations. The Company''s principal financial liabilities comprise of trade and other payables. The Company''s senior management''s focus is to foresee the unpredictability and minimize potential adverse effects on the Company''s financial performance. The Company''s overall risk management procedures to minimize the potential adverse effects of financial market on the Company''s performance are outlined hereunder :

The Company''s Board of Directors have overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company''s risk management is carried out by the management in consultation with the Board of Directors. They provide principles for overall risk management, as well as policies covering specific risk areas.

The note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

(A) Credit Risk

T redit 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 and arises principally from the Company''s receivables from customers and from its financial activities including deposits with banks and other financial instruments.

(i) Cash and Cash Equivalents :

The Company considers factors such as track record, size of institution, market reputation and service standard to select the banks with which deposits are maintained. The Company does not maintain significant deposit balances other than those required for its day to day operations. Credit risk on cash and cash equivalents is limited as these are generally held or invested in deposits with banks and financial institutions with good credit ratings

(ii) Financial Assets :

The Company''s customer profile include Government Companies and Industries. Accordingly, the Company''s customer credit risk is moderate. The Company has a detailed review mechanism of overdue customer receivables at various levels within organization to ensure proper attention and focus for realization.

Liquidity risk is the risk that the Company will face in meeting its obligation associated with the financial liabilities'' Company''s approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions.

The Company''s objective is to maintain optimum levels of liquidity to meet its Cah and collateral requirements. The Company relies on a mix of borrowings, capital and excess operating cash flow to meet its needs for funds. The current Committed lines of credit are sufficient to meet its short to medium term expansion needs. The Company monitors rolling forecasts of its liquidity requirements to ensure that it has sufficient cash to meet operational needs.

The table below provides undiscounted cash flows towards non derivative financial assets/(Liabilities) into relevant maturity based on the remaining period at the balance sheet date to the contractual maturity date and where applicable, their effective interest rates.

(C) Market Risk

i

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: Foreign currency risk, interest risk and other price risk such as commodity risk.

(i) Interest rate risk

The Company''s exposure to the risk of changes in market interest rates relates primarily to debts having floating rate of interest. Its objective in managing its interest rate risk is to ensure that it always maintains sufficient head room to cover interest payment from anticipated cash flows which are regularly reviewed by the Board.

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 and arises where transactions are done in foreign currencies. It arises mainly where receivables and payable exist due to transactions entered in foreign currencies. The Company evaluates exchange rate exposure arising from foreign currency transactions and follow approved policy parameters utilizing forward foreign exchange contracts whenever felt necessary. The Company does not enter into financial instrument transactions for trading or speculative purpose.

(iii) Commodity Risk :

The Company is exposed to the movement in the price of key raw materials and other traded goods in the domestic and international markets. The Company has in place policies to manage exposure to fluctuation in prices of key raw material used in operations. The Company enters into contracts for procurement of raw materials and traded Goods, most of the transactions are short term fixed price contracts and a few transactions are long term fixed price contracts.

(D) Capital Management

The Company manages its capital to be able to continue as as going concern while maximising the returns to shareholders through optimisation of the debt and equity balances. For the purpose of calculating gearing ratio, debt is defined as non current and current borrowings (excluding derivatives). Equity includes all capital and reserves of the Company attributable to equity holders of the Company. The Company is not subject to externally imposed capital requirements. The board review the capital structure and cost of capital on an Annual basis but has not set specific targets for gearing ratios. This risks associated with each class of capital are also considered as part of the risk reviews presented to the Board of Directors.

46 Relationship with Struck off Companies

The Company has not carried out any transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956. There is no outstanding balance as at 31st March 2025 in case of said struck off company.

47 Balances of Other Current Liabilities, Trade Receivables and Trade Payables are subject to confirmation, reconciliation and adjustments if any.

48 In the opinion of the Management, current assets have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated except where indicated otherwise.

49 Previous period figures have been regrouped, re-classified and re-arranged wherever considered necessary to confirm to the current year''s classification.

50 The MCA wide notification dated March 24,2021 has amended Schedule III to the Companies Act,2013 in respect of certain disclosures. The Company has incorporated appropriate changes in the above results.

51 Additional information as required under para 2 of General Instruction of Division II of Schedule III to the Companies Act, 2013

(51a) The Company has not carried out any revaluation of Property, Plant and Equipment in any of the period reported in the Financial Statement hence reporting is not applicable.

(51b) The Company does not have hold any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made there under. 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 the rules made there under.

(51c) As per sanctioned letter issued by Banks, the Company is required to submit Stock statement to Banks on quarterly basis. As per comparison made of the stock statement vis-a-vis books of account, there are no material difference noted.

(51d) The Company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

(51e) The Company does not have any such transaction which is 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 survey or any other relevant provisions of the Income Tax Act,1961).

(51f) The Company has not advanced or loaned or invested funds to any other person(s) pr 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.

(51g) During FY 2024-25, the Company has not raised any amount from issue of securities. The borrowed funds have been utilised for the specific purpose for which the funds were raised.

(51h) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(51i) The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read with the Companies (Restriction on number of Layers) Rules,2017.

52 The Standalone Financial Statements for the year ended March 31,2025 have been received by the Audit Committee and approved by the Board of Directors at their meeting held on 2nd May 2025.

16(d)The Board of Directors at its meeting held on 6th February, 2023 approved the sub division of its Equity shares of face value '' 10 each into Equity shares of face value '' 5 each. The said sub division was further approved by the Share holder through Postal Ballot on 16th March, 2023. The Company had fixed 10th April, 2023 as the record date for the purpose of sub-division of the Equity Shares. The Basic and Diluted EPS for the prior periods of standalone and the consolidated financial statements have been restated considering the face value of '' 5 each on accordance with IND AS 33-”Earning per share: Refer note no 32.

16(e) The Company has only one class of equity shares having par value of Rs. 5 per share. Each holder of equity shares is entitled to one vote per share. The dividend if proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

16(f) There are no shares issued pursuant to contract without payment being received in cash, allotted as fully paid up by way of bonus shares and bought back during the last 5 years.

17(b) Securities Premium Reserve is used to record the premium on issue of shares. The reserve shall be utilized in accordance with the provision of the Companies Act, 2013.

17(c) Capital Reserve is a non distributable reserve.

17(d) Retained Earnings amount that can be distributed as dividend considering the requirements of Companies Act,2013. For the year ended March 31,2024, the Board of Directors has recommended a final dividend of '' 2.44 Per share, subject to approval from Shareholders at the Annual General Meeting and if approved, would result in a cash outflow of '' 1,561.60 Lakhs (March 31,2023 '' 1,184 Lakhs).

On account of Scheme of Arrangement apporved by Hon''able NCLT, the Company recongized “Goodwill” in the books of account. On the said Goodwill, the Company was claiming amortisation in the books of account and depreciation in the Tax Laws while filling return of income for assessment year upto 2020-21. Now, with the amendment brought in by Finance Bill, 2021 on prospective basis, no depreciation would be allowable on goodwill on April,2020 (Assessment Year 2021-22 onwards). As per change, Goodwill of a business or profession will not be considered as a depreciable asset and there would not be any depreciation on goodwill of a business or profession on any situation. Accordingly, the Company is required to reverse majority of its deferred tax liability created in earlier years (i.e. demerger effective from 1st April, 2017) and bring its deferred tax provision at par with requirement of the law.

34 - SEGMENT REPORTING

As per para 4 of Ind AS 108 “ Operating Segments”, if a single financial report contains both Consolidated Financial Statements and the separate financial statement of the Parent Company, segment information may be presented on the basis of the Consolidated Financial Statement. Thus, the information related to disclosure of operating segments required under Ind AS 108 “ Operating Segments”, is given in Consolidated Financial Statements.

35 - Employee Benefit Plans

In accordance with the stipulations of the Indian Accounting Standard 19 “Employee Benefits”, the disclosures of employee benefits as defined in the Indian Accounting Standard are given below:

(a) Defined contribution plans

- Provident fund

The Company has recognized the following amounts in the statement of Profit and Loss :

Employers’ contribution to provident fund

The Company has recognized an amount of '' 38.24 Lakhs (P.Y. '' 48.31 Lakhs) as expenses under the defined contribution plan in the Statement of Profit and Loss.

(b) Defined benefit plans - Gratuity

In accordance with Indian Accounting Standard 19, Actuarial valuation was done in respect of the aforesaid defined benefit plans based on the following assumptions:

The following table sets out the status of the gratuity and the amounts recognized in the Company''s financial statements as at 31st March 2024.

Financial Assumptions

The discount rate and salary increases assumed are the key financial assumptions and should be considered together, It is the difference or ‘gap'' between these rates which is more important than the Individual rates in isolation.

Discount Rate

The rate used to discount other long term employee benefit obligation (both funded and unfunded) shall be determined by reference to market yield at the Balance date on high quality corporate bonds. In Countries where there is no deep market in such bonds the market yields (at the Balance sheet date) on government bonds shall be used. The currency and term of the corporate bond or government bond shall be consistent with estimated term of the post employment benefit obligation.

Salary Escalation Rate

This is Management''s estimate of the increases in the salaries of the employees over the long term. Estimated future salary increases should take account of inflation ,seniority, promotion an other relevant factors such as supply and demand in the employment market.

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Further more, in presenting the above senitivity analysis the present value of the defined benefit obligations has been calculated using the projected unit credit method at the end of the reporting preiod, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

36 - Expenditure towards Corporate Social Responsibility (CSR) activities:

In accordance with the provisions of Section 135 of the Companies Act,2013, Schedule VII and Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended,the Board of Directors of the Company had constituted a Corporate Social Responsibility (CSR) Committee. In terms of the provisions of the said ACt, the Company was required to spend of '' 114.78 lakhs (previous year '' 99.12 lakhs) towards CSR activities during the year ended 31st March, 2024. The Company has incurred following expenditure towards CSR activities for the benefit of general public andin the neighborhood of the Company.

n a r>Tir''i 11 ado \/— ~ ^ —i v — ~ —i

i) The above related party transactions have been reviewed periodically by the Board of Directors of the Company vis-a-vis the applicable provisions of the Companies Act, 2013 and justification of the rates being charged/terms thereof and approved the same.

ii) The details of guarantees and collaterals extended by the related parties in respect of borrowings of the Company have been given at the respective notes.

iii) Entity under common control are disclosed only with whom transaction has taken place during the year.

iv) All related party transaction have been taken at arm''s length price..

41. FINANCIAL RISK MANAGEMENT OBJECTIVES

The Company''s Risk Management framework encompasses practices relating to the indentification, analysis, evaluation, treatment mitigation and monitoring of the strategic,external and operational controls risks to achieving the Company''s business objectives. It seeks to minimize the adverse impact of these risks, thus enabling the Company to leverage market opportunities effectively and enhance its long term competitive advantage.The focus of risk management is to assess risks and deploy mitigation measures.

The Company''s activities expose it to variety of financial risks namely market risk, credit risk and liquadity risk.The Company has various financial assets such as deposits, other receivables and cash and bank balances directly related to the business operations. The Company''s principal financial liabilities comprise of trade and other payables. The Company''s senior management''s focus is to foresee the unpredictability and minimize potential adverse effects on the Company''s financial performance. The Company''s overall risk management procedures to minimize the potential adverse effects of financial market on the Company''s performance are outlined here under :

The Company''s Board of Directors have overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company''s risk management is carried out by the management in consultation with the Board of Directors. They provide principles for overall risk management, as well as policies covering specific risk areas.

The note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

(A) Credit risk

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 and arises principally from the Company''s receivables from customers and from its financial activities including deposits with banks and other financial instruments.

(i) Cash and cash equivalents:

The Company considers factors such as track record, size of institution, market reputation and service standard to select the banks with which deposits are maintained. The Company does not maintain significant deposit balances other than those required for its day to day operations. Credit risk on cash and cash equivalents is limited as these are generally held or invested in deposits with banks and financial institutions with good credit ratings

(ii) Financial Assets :

The Company''s customer profile include Government Companies and Industries. Accordingly, the Company''s customer credit risk is moderate. The Company has a detailed review mechanism of overdue customer receivables at various levels within organization to ensure proper attention and focus for realization.

(B) Liquidity Risk

Liquidity risk is the risk that the Company will face in meeting its obligation associated with the financial liabilities.The Company''s approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions.

The Company''s objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements.The Company relies on a mix of borrowings, capital and excess operating cash flow to meet its needs for funds.The current Committed lines of credit are sufficient to meet its short to medium term expansion needs. The Company monitors rolling forecasts of its liquidity requirements to ensure that it has sufficient cash to meet operational needs.

The table below provides undiscounted cash flows towards non derivative financial assets/(liabilities) into relevant maturity based on the remaining period at the balance sheet date to the contractual maturity date and where applicable, their effective interest rates.

(C) Market risk

Market risk is the risk that the fair value fo future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risks: Foreign currency risk, interest risk and other price risk such as commodity risk.

(i) Interest rate risk

The Company''s exposure to the risk of changes in market interest rates relates primarily to debts having floating rate of interest. Its objective in managing its interest rate risk is to ensure that it always maintains sufficient head room to cover interest payment from anticipated cash flows which are regularly reviewed by the Board.

(ii) 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 and arises where transactions are done in foreign currencies. It arises mainly where receivables and payable exist due to transactions entered in foreign currencies. The Company evaluates exchange rate exposure arising from foreign currency transactions and follow approved policy parameters utilizing forward foreign exchange contracts whenever felt necessary. The Company does not enter into financial instrument transactions for trading or speculative purpose.

(iii) Commodity Risk:

The Company is exposed to the movement in the price of key raw materials and other traded goods in the domestic and international markets. The Company has in place policies to manage exposure to fluctuation in prices of key raw material used in operations.The Company enters into contracts for procurement of raw materials and traded Goods, most of the transactions are short term fixed price contracts and a few transactions are long term fixed price contracts.

(D) Capital management

The Company manages its capital to be able to continue as as going concern while maximizing the returns to shareholders through optimization of the debt and equity balances. For the purpose of calculating gearing ratio, debt is defined as non current and current borrowings (excluding derivatives). Equity includes all capital and reserves of the Company attributable to equity holders of the Company. The Company is not subject to externally imposed capital requirements. The board review the capital structure and cost of capital on an annual basis but has not set specific targets for gearing ratios. The risks associated with each class of capital are also considered as part of the risk reviews presented to the Board of Directors.

43. Relationship with Struck off Companies

The Company has not carried out any transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956. There is no outstanding balance as at 31st March 2024 in case of said struck off company.

44. Balances of Other Current Liabilities, Trade Receivables and Trade Payables are subject to confirmation, reconciliation and adjustments if any.

45 In the opinion of the Management, current assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated except where indicated otherwise.

46 Previous period figures have been regrouped, re-classified and re-arranged wherever considered necessary to confirm to the current year''s classification.

47 The MCA wide notification dated March 24,2021 has amended Schedule III to the Companies Act,2013 in respect of certain disclosures. The Company has incorporated appropriate changes in the above results.

48 Additional information as required under para 2 of General Instruction of Division II of Scheulde III to the Companies Act, 2013

(48a) The Company has not carried out any revaluation of Property, Plant and Equipment in any of the period reported in the Financial Statement hence reporting is not applicable.

(48b) The Company does not have hold any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder. 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 the rules made thereunder.

(48c) As per sanctioned letter issued by Banks, the Company is required to submit Stock statement to Banks on quarterly basis. As per comparison made of the stock statement vis-a-vis books of account,there are no material difference noted.

(48d) The Company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

(48e) The Company does not have any such transaction which is 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 survey or any other relevant provisions of the Income Tax Act,1961).

(48f) The Company has not advanced or loaned or invested funds to any other person(s) pr 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 indentified 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.

(48g) During FY 2023-24, the Company has not raised any amount from issue of securities. The borrowed funds have been utilized for the specific purpose for which the funds were raised.

(48h) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(48i) The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017.

49 The Standalone Financial Statements for the year ended March 31, 2024 have been received by the Audit Committee and approved by the Board of Directors at their meeting held on 15th May 2024.

Provisions, contingent liabilities and contingent assets Provisions

A provision is recognised when the Company has a present obligation (legal or constructive) as a result of 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 recognised as a finance cost.

Contingent liabilities

A contingent liability is a possible obligation that arises from past events and 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 enterprise.
Contingent liabilities are disclosed by way of note to the financial statements.

Contingent Assets

A contingent asset is a possible asset that arises 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 enterprise.

Contingent assets are neither recognised nor disclosed in the financial statements.

m) Retirement and other employee benefits
Provident fund

Retirement benefit in the form of Provident Fund is a defined contribution scheme. The Company has no obligation, other
than the contribution payable to the provident fund. The Company recognises contribution payable to the provident scheme
as an expenditure, when an employee renders the related service. If the contribution payable to the scheme for service
received before the Balance Sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognised
as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for
services received before the Balance Sheet date, then excess is recognised as an asset to the extent that the pre-payment
will lead to, for example, a reduction in future payment or a cash refund.

Gratuity

Gratuity liability is defined benefit obligation and is provided for on the basis of an actuarial valuation on projected unit credit
(PUC) method made at the end of each financial year. The Company contributes to Life Insurance Corporation of India (LIC)
and SBI Life Insurance Company Limited, a funded defined benefit plan for qualifying employees.

The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method.

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net
interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the
net defined benefit liability), are recognised immediately in the Balance Sheet with a corresponding debit or credit to
retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to Statement of Profit
and Loss in subsequent periods.

Past service costs are recognised in Statement of Profit and Loss on the earlier of:

- The date of the plan amendment or curtailment, and

- The date that the Company recognises related restructuring costs.

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises
the following changes in the net defined benefit obligation as an expense in the Statement of Profit and Loss:

- Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements; and

- Net interest expense or income
Short-term employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised on an undiscounted accrual basis during the year when the employees render the services.
These benefits include performance incentive and compensated absences which are expected to occur within twelve
months after the end of the period in which the employee renders the related services.

Long-term employee benefits

Other long term employee benefits comprise of compensated absences/leaves. Provision for Compensated Absences and
its classifications between current and non-current liabilities are based on independent actuarial valuation. The actuarial
valuation is done as per the projected unit credit method.

n) 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

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other
comprehensive income (OCI), and fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset''s contractual cash flow characteristics
and the company''s business model for managing them. With the exception of trade receivables that do not contain a
significant financing component or for which the Company has applied the practical expedient, the Company initially
measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,
transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has
applied the practical expedient are measured at the transaction price determined under Ind AS 115. Refer to the accounting
policies in section “Revenue from contracts with customer”.

In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise
to cash flows that are ‘solely payments of principal and interest (SPPI)'' on the principal amount outstanding. This assessment

is referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are
classified and measured at fair value through profit or loss, irrespective of the business model.

The Company''s business model for managing financial assets refers to how it manages its financial assets in order to
generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows,
selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business
model with the objective to hold financial assets in order to collect contractual cash flows while financial assets classified and
measured at fair value through OCI are held within a business model with the objective of both holding to collect contractual
cash flows and selling.

Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or
convention in the marketplace (regular way trades) are recognized on the trade date, i.e., the date that the Company commits
to purchase or sell the asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

- financial assets at amortised cost

- financial assets at fair value through other comprehensive income (FVTOCI) with recycling of cumulative gains and
losses

- financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition
(equity instruments)

- financial assets at fair value through profit or loss
Financial assets at amortised cost

A ‘financial assets'' is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and
interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the Company. After initial measurement, such financial assets are subsequently
measured at amortised cost using the Effective Interest Rate (EIR) method. Amortised 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 EIR amortisation
is included in other income in the Statement of Profit and Loss. The losses arising from impairment are recognised in the
Statement of Profit and Loss. This category generally applies to trade receivables, security deposits and other receivables.

Financial assets at fair value through other comprehensive income (FVTOCI)

A ‘financial asset'' is classified as at the FVTOCI if both of the following criteria are met:

a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial
assets, and

b) The asset''s contractual cash flows represent Solely Payments of Principal and Interest.

Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date at fair value.
For debt instruments, at fair value through other comprehensive income (OCI), interest income, foreign exchange revaluation
and impairment losses or reversals are recognised in the profit or loss and computed in the same manner as for financial
assets measured at amortised cost. The remaining fair value changes are recognised in OCI. Upon derecognition, the
cumulative fair value changes recognised in OCI is reclassified from the equity to profit or loss

The Company''s debt instruments at fair value through OCI includes investments in quoted debt instruments included under
other non-current financial assets.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Company can elect to classify irrevocably its equity investments as equity instruments designated
at fair value through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are
not held for trading. The classification is determined on an instrument-by-instrument basis. Equity instruments which are
held for trading and contingent consideration recognised by an acquirer in a business combination to which Ind AS103
applies are classified as at FVTPL.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognised as other income in
the statement of profit and loss when the right of payment has been established, except when the Company benefits from
such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity
instruments designated at fair value through OCI are not subject to impairment assessment.

The Company elected to classify irrevocably its non-listed equity investments under this category.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value
recognised in the statement of profit and loss.

This category includes derivative instruments and listed equity investments which the Company had not irrevocably elected
to classify at fair value through OCI. Dividends on listed equity investments are recognised in the statement of profit and loss
when the right of payment has been established.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily
derecognised (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'' arrangement- 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 recognise the transferred asset to the extent of the Company''s continuing involvement. In that case,
the Company also recognises 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 that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits, and
bank balance.

b) Trade receivables.

The Company follows ‘simplified approach'' for recognition of impairment loss allowance on trade receivables which do not
contain a significant financing component. 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. The Company uses a provision matrix to determine impairment loss allowance on the portfolio of
trade receivables. The provision matrix is based on its historically observed default rates over the expected life of the trade
receivable and is adjusted for forward looking estimates. At every reporting date, historical observed default rates are
updated and changes in the forward- looking estimates are analysed.

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, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of payables, net of directly attributable transaction
costs.

The Company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts and
derivative financial instruments.

Subsequent measurement

For purposes of subsequent measurement, financial liabilities are classified in two categories:

- Financial liabilities at fair value through profit or loss

- Financial liabilities at amortised cost (loans and borrowings)

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss.

Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This
category also includes derivative financial instruments entered into by the Company that are not designated as hedging
instruments in hedge relationships as defined by Ind AS 109. Separated embedded derivatives are also classified as held
for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ losses are not subsequently transferred
to Profit and Loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair
value of such liability are recognised in the statement of profit and loss. The Company has not designated any financial
liability as at fair value through profit or loss.

Financial liabilities at amortised cost (Loans and borrowings)

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

Amortised 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 EIR amortisation is included as finance costs in the statement of profit and loss. This category
generally applies to borrowings.

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 derecognition 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.

Reclassification of financial assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no
reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which
are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets.
Changes to the business model are expected to be infrequent. The Company''s senior management determines change in
the business model as a result of external or internal changes which are significant to the Company''s operations. Such
changes are evident to external parties. A change in the business model occurs when the Company either begins or ceases
to perform an activity that is significant to its operations. If the Company reclassifies financial assets, it applies the reclassification
prospectively from the reclassification date which is the first day of the immediately next reporting period following the
change in business model. The Company does not restate any previously recognised gains, losses (including impairment
gains or losses) or interest.

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 recognized amounts and there is an intention to settle on a net basis, to realize the assets
and settle the liabilities simultaneously.

o) Derivative financial instruments

The Company uses derivative financial instruments such as foreign currency forward contracts and option currency contracts
to hedge its foreign currency risks arising from highly probable forecast transactions. The counterparty for these contracts is
generally a bank.

Derivatives not designated as hedging instruments

This category has derivative assets or liabilities which are not designated as hedges.

Although the Company believes that these derivatives constitute hedges from an economic perspective, they may not qualify
for hedge accounting under Ind AS 109. Any derivative that is either not designated a hedge, or is so designated but is
ineffective, is recognized on balance sheet and measured initially at fair value. Subsequent to initial recognition, derivatives
are re-measured at fair value, with changes in fair value being recognized in the statement of profit and loss. Derivatives are
carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.

p) Cash & 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, that are readily convertible to a known amount of cash and 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.

q) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss attributable to equity holders of the Company by the
weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, 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 shareholders
of the Company and the weighted average number of shares outstanding during the period are adjusted for the effects of all
dilutive potential equity shares.

r) Dividend

The Company recognises a liability to pay dividend to equity holders of the parent when the distribution is authorised, and
the distribution is no longer at the discretion of the Company. As per the corporate laws in India, a distribution is authorised
when it is approved by the shareholders. A corresponding amount is recognised directly in equity.

s) Investment in subsidiaries, joint ventures and associates

Equity investments in subsidiaries, joint ventures and associates are shown at cost less impairment, if any. The Company
tests these investments for impairment in accordance with the policy applicable to ‘Impairment of non-financial assets''.
Where the carrying amount of an investment or CGU to which the investment relates is greater than its estimated recoverable
amount, it is written down immediately to its recoverable amount and the difference is recognized in the Statement of Profit
and Loss.

2.2 Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company accounting policies, the management of the Company is required to make judgements,
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
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
periods if the revision affects both current and future periods.

The following are the areas of estimation uncertainty and critical judgements that the management has made in the process of
applying the Company''s accounting policies and that have the most significant effect on the amounts recognised in the financial
statements:

Useful lives of Intangible assets

The intangible assets are amortised over the estimated useful life. The estimated useful life and amortisation method are
reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective
basis.

Useful lives of depreciable tangible assets

Management reviews the useful lives of depreciable assets at each reporting date. As at March 31,2023 management assessed
that the useful lives represent the expected utility of the assets to the Company.

Defined benefit 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 that may differ from actual developments
in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension
increases. 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.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on

available data from binding sales transactions, conducted at arm''s length, for similar assets or observable market prices less
incremental costs for disposing of the asset. The value in use calculation is based on a DCF model. The cash flows are derived
from the budget for determined period and do not include restructuring activities that the Company is not yet committed to or
significant future investments that will enhance the asset''s performance of the CGU being tested. The recoverable amount is
sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows, the growth rate used for
extrapolation purposes and the impact of general economic environment (including competitors).

2.3 Other Notes

a) Other Statutory Information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made
thereunder.

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

(iii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(iv) The Company have 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 person 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

(v) The Company have 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 person 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

(vi) The Company have 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.

b) Regulatory Updates :

i) Standards notified but not yet effective

The amendments to standards that are issued, but not yet effective, up to the date of issuance of the Company''s
financial statements are disclosed below. The Company intends to adopt these standards, if applicable, as and when
they become effective. The Ministry of Corporate affairs (MCA) has notified certain amendments to Ind AS, through
Companies (Indian Accounting Standards) Amendment Rules, 2023 on 31st March, 2023. The amendments have
been made in the following standards:

Ind AS 1: Presentation of Financial Statements is amended to replace the term “significant accounting policies” with
“material accounting policy information” and providing guidance relating to immaterial transactions, disclosure of entity
specific transactions and more

Ind AS 8: Accounting Policies, Changes in Accounting Estimates and Errors to include the definition of accounting
estimates as “monetary amounts in financial statements that are subject to measurement uncertainty.”

Ind AS 12: Income Taxes relating to initial recognition exemption of deferred tax related to assets and liabilities arising
from a single transaction.

Other Amendments in Ind AS 102 - Share based Payments, Ind AS 103 - Business Combinations, Ind AS 109 -
Financial Instruments, Ind AS 115 - Revenue from Contracts with Customers which are mainly editorial in nature in
order to provide better clarification of the respective Ind AS''s.

These amendments shall come into force with effect from April 01,2023. The Company is assessing the potential effect
of the amendments on its financial statements. The Company will adopt these amendments, if applicable, from applicability
date.