2. MATERIAL ACCOUNTING POLICIES:

2.1 Basis of Preparation of Standalone Financial Statements & Statement of Compliance

These standalone financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) prescribed
under Section 133 of the Companies Act, 2013 ("the Act") read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 as amended under the historical cost convention on the accrual basis except for certain financial
instruments which are measured at fair values and presentation and disclosure requirements of Division II of Schedule
III of the act as applicable to Standalone Financial Statements.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted
or a revision to an existing accounting standard require a change in accounting policy hitherto in use. Historical cost is
generally based on the fair value of the consideration given in exchange for goods and services.

The standalone financial statements are presented in Indian Rupees ('INR7'?V'Rs') which is the Company's functional
currency and all values are rounded to the nearest lakh, except otherwise indicated.

The Standalone financial statements for the year ended March 31, 2025 are authorized for issue in accordance with a
resolution of the directors on May 28, 2025

2.2 Business Combination ( Other than common control business combinations)

As per Ind AS 103, Business combinations are accounted for using the acquisition accounting method as at the date of
the acquisition, which is the date at which control is transferred to the Company. The consideration transferred in the
acquisition and the identifiable assets acquired and liabilities assumed are recognised at fair values on their acquisition
date. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and
the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets
acquired and liabilities assumed. The Company recognises any non-controlling interest in the acquired entity on an
acquisition by-acquisition basis either at fair value or at the non-controlling interest's proportionate share of the
acquired entity's net identifiable assets. Consideration transferred does not include amounts related to settlement of
pre-existing relationships. Such amounts are recognised in the standalone statement of profit and loss.

Transaction costs are expensed in the standalone statement of profit and loss as incurred, other than those incurred
in relation to the issue of debt or equity securities which are directly adjusted in other equity. Any contingent
consideration payable is measured at fair value at the acquisition date. Subsequent changes in the fair value of
contingent consideration are recognised in the standalone statement of profit and loss.

2.3 Use of Assumptions Judgments and Estimates

The preparation of the standalone financial statements in conformity with Ind AS requires the management to
make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application
of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and
liabilities at the date of the standalone financial statements and reported amounts of revenues and expenses during
the period. The application of accounting policies that require critical accounting estimates involving complex and
subjective judgments and the use of assumptions in these standalone financial statements have been disclosed below.
Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes
aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the standalone
financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes
to the standalone financial statements.

Critical accounting estimates

(a) Impairment of Goodwill:

The Company will assess at the end of each reporting period whether there is any indication that an asset may be
impaired. If any such indication exists, the company will estimate the recoverable amount of the asset.

For the purposes of impairment testing, goodwill is allocated to each of the cash-generating units (or groups of
cash-generating units) that is expected to benefit from the synergies of the combination.

A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently
when there is indication that the unit may be impaired. If the recoverable amount of the cash generating unit is
less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill
allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset
in the unit. Any impairment loss for goodwill is recognized directly in the standalone Statement of Profit and Loss.
An impairment loss recognized for goodwill is not reversed in subsequent periods.

On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the
determination of the profit or loss on disposal.

(b) Employee Benefits:

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 attrition rate. 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.

(c) Impairment of Financial Assets:

The impairment provisions for financial assets are based on assumptions about risk of default and expected loss
rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment
calculation based on Company's past history, existing market conditions as well as forward looking estimates at
the end of each reporting period.

(d) Imapirment of Investment in Subsidiaries:

Investments in subsidiaries are carried at cost and the Company shall review the carrying amount of such
investments at each reporting date to assess for indicators of impairment. If any such indication exists, the
investment is tested for impairment.

(e) Deferred Tax:

Significant judgments are involved in assessing the realizability of deferred income tax assets. The ultimate
realization of deferred income tax assets is dependent upon the generation of future taxable income during the
periods in which the temporary differences become deductible. Management considers the scheduled reversals
of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this
assessment.

(f) Useful lives of Property, Plant and Equipment:

Property, plant and equipment represent a significant proportion of the asset base of the Company. The charge
in respect of periodic depreciation is derived after determining an estimate of an asset's expected useful life and
the expected residual value at the end of its life. The useful lives and residual values of Company's assets are
determined by the management at the time the asset is acquired and reviewed periodically, including at each
financial year end. The lives are based on historical experience with similar assets as well as anticipation of future
events, which may impact their life, such as changes in technology

2.4 Revenue Recognition

Revenue is measured at fair value of the consideration received or receivable. Ind AS 115, Revenue from contracts with
customers, outlines a single comprehensive model of accounting for revenue arising from contracts with customers.

The Company recognizes revenue from contracts with customers based on a five-step model as set out in Ind AS 115:

Step 1: Identify contract(s) with a customer. A contract is defined as an agreement between two or more parties that
creates enforceable rights and obligations and sets out the criteria for every contract that must be met.

Step 2: Identify performance obligations in the contract: performance obligation is a promise in a contract with a
customer to transfer a good or service to the customer.

Step 3: Determine the transaction price: The transaction price is the amount of consideration to which the company
expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts
collected on behalf of third parties.

Step 4: Allocate the contract price to the performance obligations in the contract: For contract that has more than one
performance obligation, the Company allocates the transaction price to each performance obligation in an amount
that depicts the amount of consideration to which the Company expects to be entitled in exchange for satisfying each
performance obligation.

Step 5: Recognise revenue when (or as) the Company satisfies a performance obligation.

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that
reflects the consideration the company expect to receive in exchange for those products or services. The Company
measures the revenues at fair value of the consideration received or receivable after taking in to account the amount
of any discount or rebates allowed to the customers.

The Company presents revenues net of indirect taxes collected in its statement of profit and loss.

Advances received for services and products are reported as "Revenue received in advance" until all conditions for
revenue recognition are met.

Tickets:

Entry Charges from amusement park/water park/Snow park ticket sales are recognized when the entry tickets are
issued to visitors.

Revenue from sale of Open Pass/Gift Passes or Open Day Tickets with all day validity which are Non-Refundable in
nature are recognized when Passes/ Tickets are utilized or expired.

In revenue arrangements with multiple performance obligations, the Company accounts for individual products and
services separately if they are distinct - i.e., if a product or service is separately identifiable from other items in the
arrangement and if a customer can benefit from it. The consideration is allocated between separate products and
services in the arrangement based on their stand-alone selling prices.

Food/Beverages:

Revenue is recognized when food/ drinks are supplied or served or services rendered.

Merchandise:

Sales are recognized on delivery of the merchandise to the customer, and control of the goods or services is transferred
to the customer.

Room Revenue/Banquet Services:

Revenue is recognized when the rooms are occupied and banquet services have been provided as per the contract with
the customer.

Barter:

When goods or services are exchanged or swapped for goods or services which are of a similar nature and value, the
exchange is not regarded as a transaction which generates revenue.

When goods are sold or services are rendered in exchange for dissimilar goods or services, the exchange is regarded
as a transaction which generates revenue. The revenue is measured at the fair value of the goods or services received,
adjusted by the amount of any cash or cash equivalents transferred. When the fair value of the goods or services
received cannot be measured reliably, the revenue is measured at the fair value of the goods or services given up,
adjusted by the amount of any cash or cash equivalents transferred

Others:

The revenue is recognized on accrual basis and when control of the goods or services is transferred to the customer.
Lease rentals are recognized on a straight-line basis over the lease term.

.5 Taxes on Income

Taxes on Income comprises of current tax and deferred tax. Current tax and deferred tax are recognized in the
Statement of profit and loss, except to the extent that it relates to items recognized in other comprehensive income or
directly in equity, in which case, the tax expense is also recognized in other comprehensive income or directly in equity,
respectively.

Current Tax:

Current tax for current period is recognized at the amount expected to be paid to the tax authorities, using applicable
tax rates as per the provisions of income tax act. Where there is uncertainty over income tax treatments, the company
determines the probability of the income tax authorities accepting each such tax treatment or group of tax treatments
in computing the most likely amount or the expected value of the tax treatment when determining taxable profit (tax
loss), tax bases, unused tax losses, unused tax credits and tax rates.

Deferred Tax:

Deferred tax assets and liabilities are recognized for all temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the standalone financial statements. Deferred tax assets and liabilities are
reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit
will be realized.

Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has
become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively
enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and
liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment
date. The company recognizes deferred tax asset for the carryforward of unabsorbed depreciation only to the extent
that it is probable that future taxable profit will be available against which the unused tax losses can be utilised.Other
deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against
which the deductible temporary differences and tax losses can be utilized.

2.6 Property, Plant and Equipment

Property, plant and equipment represent a significant proportion of the asset base of the company.

The cost of an item of property, plant and equipment is recognized as an asset, if and only if:

(a) it is probable that future economic benefits associated with the item will flow to the entity; and

(b) the cost of the item can be measured reliably.

Property, plant and equipment are stated at cost or net of tax / duty credit availed, less accumulated depreciation and
accumulated impairment losses, if any. When significant parts of property, plant and equipment are required to be
replaced at intervals, the company derecognizes the replaced part and recognizes the new part with its own associated
useful life and it is depreciated accordingly. Likewise, when a major inspection is performed, its cost is recognized in the
carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair
and maintenance costs are recognized in the statement of profit and loss as incurred.

Capital work in progress includes cost of property, plant and equipment under installation / under development as at
the balance sheet date.

Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date is
classified as "Capital Advances" under other non-current assets. Subsequent expenditures relating to property, plant
and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to
the company and the cost of the item can be measured reliably.

Property, plant and equipment are eliminated from standalone financial statement on disposal. Gains or losses arising
from disposal of property, plant and equipment are recognized in the statement of profit and loss in the year of
occurrence.

The assets' residual values, useful lives and methods of depreciation are reviewed at each financial year end.

Depreciation is charged on Straight Line Method over the useful life of the assets as specified in Schedule II of the
Companies Act, 2013 on the basis of technical evaluation. Useful life of the assets is tabulated below.

2.8 Impairment of Non Current Assets

The company assesses at each balancesheet date whether there is any indication that an asset may be impaired. Such
circumstances include, though are not limited to, significant or sustained decline in revenues or earnings and material
adverse changes in the economic environment.

An impairment loss is recognised whenever the carrying amount of an asset or its cash generating unit (CGU) exceeds
its recoverable amount. The recoverable amount of an asset is the greater of its fair value less cost to sell and value
in use. To calculate value in use, the estimated future cash flows are discounted to their present value using a pre-tax
discount rate that reflects current market rates and the risk specific to the asset. For an asset that does not generate
largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs.
Fair value less cost to sell is the best estimate of the amount obtainable from the sale of an asset in an arm's length
transaction between knowledgeable, willing parties, less the cost of disposal. Impairment losses, If any, are recognised
in the statement of profit and loss and included in depreciation and amortisation expenses. After impairment (if any),
depreciation/ amortisation is provided on the revised carrying amount of the assets over its remaining life.

For assets an assessment is made at each reporting date to determine whether there is an indication that previously
recognised impairment losses no longer exist or have decreased. If such indication exists, the company estimates the
asset's recoverable amount. A previously recognised impairment loss is reversed only if there has been a change in the
assumptions used to determine the asset's recoverable amount since the last impairment loss was recognised. The
reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the
carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for
the asset in prior years. Such reversal is recognised in the statement of profit and loss unless the asset is carried at a
revalued amount, in which case, the reversal is treated as a revaluation increase.

2.9 Inventories

Inventories are valued at lower of cost and net realizable value.

The cost of inventories have been computed to include all cost of purchases, cost of conversion and other related
costs incurred in bringing the inventories to their present location and condition.Cost of Inventories are determined
on Weighted Average Basis. Goods and materials in transit are valued at actual cost incurred up to the date of balance
sheet.

2.10 Non-current Assets Held for Sale

Non-current assets are classified as held for sale if their carrying amounts will be recovered principally through a sale
transaction rather than through continuing use. Non-current assets classified as held for sale are measured at the lower
of their carrying amount and fair value less costs to sell. This condition is regarded as met only when the sale is highly
probable and the asset is available for immediate sale in its present condition. The criteria for held for sale classification
is regarded as met only when the sale is highly probable and the management must be committed to the plan to sell
the assets and the sale expected to be generally completed within one year from the date of classification

The Company does not depreciate (or amortise) a non-current asset while it is classified as held for sale.

2.11 Financial Instruments

(i) Financial Assets:

Initial recognition and measurement

All financial assets are recognised initially at fair value plus transaction costs that are attributable to the acquisition
of the financial asset except in the case of financial assets recorded at fair value through Profit and Loss. However,
trade receivable that do not contain a significant financing component are measured at transaction price.

Financial assets are classified, at initial recognition, as financial assets measured at fair value or as financial assets
measured at amortised cost.

Subsequent measurement

For purposes of subsequent measurement financial assets are classified in two broad categories:

• Financial assets at fair value

• Financial assets at amortised cost

Where assets are measured at fair value, gains and losses are either recognised entirely in the statement of
profit and loss (i.e. fair value through profit or loss), or recognised in other comprehensive income (i.e. fair value
through other comprehensive income).

A financial asset that meets the following two conditions is measured at amortised cost (net of any write down
for impairment) unless the asset is designated at fair value through profit or loss under the fair value option.

• Business model test: The objective of the Company's business model is to hold the financial asset to collect
the contractual cash flows (rather than to sell the instrument prior to its contractual maturity to realise its
fair value changes).

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

A financial asset that meets the following two conditions is measured at fair value through other
comprehensive income unless the asset is designated at fair value through profit or loss under the fair value
option.

• Business model test: The financial asset is held within a business model whose objective is achieved by
both collecting contractual cash flows and selling financial assets.

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

Even if an instrument meets the two requirements to be measured at amortised cost or fair value through other
comprehensive income, a financial asset is measured at fair value through profit or loss if doing so eliminates
or significantly reduces a measurement or recognition inconsistency (sometimes referred to as an 'accounting
mismatch') that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on
them on different bases.

All other financial asset is measured at fair value through profit or loss.

All equity investments are measured at fair value in the balance sheet, with value changes recognised in the
statement of profit and loss, except for those equity investments for which the entity has elected to present value
changes in 'other comprehensive income'.

If an equity investment is not held for trading, an irrevocable election is made at initial recognition to measure
it at fair value through other comprehensive income with only dividend income recognised in the statement of
profit and loss.

De - recognition

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 statement of financial position) 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.

Investment in subsidiaries

The Company has accounted for its investment in subsidiaries at cost and the same are tested for impairment in
case of any indication of impairment.

(ii) Financial liabilities and equity instruments

(a) Classification as debt or equity

Financial liabilities, debts and equity instruments issued by the Company are classified according to the
substance of the contractual arrangements entered into and the definitions of a financial liability and an
equity instrument.

(b) Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of the Company after
deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue
costs.

(c) Financial Liabilities

All financial liabilities are measured subsequently at amortised cost using the effective interest method or
at FVTPL.

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading or 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 statement of profit and loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the
initial date of recognition, and only if the criteria in Ind AS 109 are satisfied.

Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost
using the Effective Interest Rate (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.

De - recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,

or the terms of an existing liability are substantially modified, such an exchange or modification is treated as
the derecognition of the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognized in the statement of profit and loss.

(iii) Offsetting of Financial Instruments:

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

2.12 Impairment of Financial Asset

In case of trade receivables or any contractual right to receive cash or another financial asset, the Company follows a
simplified approach wherein an amount equal to lifetime Expected Credit Loss (ECL) is measured and recognised as loss
allowance.

In case of other assets (listed as i and ii above), the Company determines if there has been a significant increase in
credit risk of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly,
an amount equal to 12-month ECL is measured and recognised as loss allowance. However, if credit risk has increased
significantly, an amount equal to lifetime ECL is measured and recognised as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in
credit risk since initial recognition, the Company reverts to recognising impairment loss allowance based on 12-month
ECL.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract
and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective
interest rate.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial
asset. 12-month ECL area portion of the lifetime ECL which result from default events that are possible within 12
months from the reporting date.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past
events, current conditions and forecasts of future economic conditions.