A. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified
under section 133 of the Companies Act, 2013 (the Act), Companies (Indian Accounting Standards) Rules, 2015]
and other relevant provisions of the Act and relevant amendment rules issued thereafter. The financial
statements comply in all material aspects with said Indian Accounting Standards.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in
use.

Revised Schedule III to Companies Act, 2013 has been made applicable to the Company , changes made if any
are in compliance to the same

The figures appearing in financial statement has been rounded off to nearest lakhs as per requirement
of Schedule III to the Companies Act

B. Basis of measurement

The Ind AS Financial Statements have been prepared on a going concern basis using historical cost convention
and on an accrual method of accounting, except for certain financial assets which have been measured at fair
value and defined benefit plans which have been measured at actuarial valuations.

C. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and
expenses during the reporting period. Difference between the actual results and estimates are recognized in the
period in which the results are known/ materialized.

D. Property, Plant and Equipment (PPE)

The items of Property Plant & equipment are measured at Cost less any accumulated depreciation and any
accumulated impairment losses. The cost of an item of property, plant and equipment are stated at cost net of
recoverable taxes and includes amounts added on revaluation (if any), less accumulated depreciation and
impairment loss, if any. All costs, including financing costs, attributable to the fixed assets are capitalized.

The Company had opted to measure all its property, plant and equipment and intangible assets at the Previous
GAAP (IGAAP) carrying amount as its deemed cost as on the date of transition to Ind AS.

E. Depreciation

Depreciation on fixed assets is provided to the extent of depreciable amount on written down value method
(WDV) in the manner prescribed in Schedule II to the Companies Act, 2013 over their remaining useful life on
pro-rata basis.

F Impairment of Assets

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss
is charged to the Profit and Loss Account in the year in which an asset is identified as impaired. The impairment
loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable
amount.

G. Foreign Currency Transactions

¹ Purchases and sales of foreign currencies and traveller's cheques are accounted at the contracted rates. Other
transactions in foreign currencies are initially recognised at the rate at which the transaction is entered into. On
settlement of such transactions the profit/loss arising from exchange

differences is recognised in the Statement of profit and loss. Receipts of foreign exchange in money transfer are
accounted on the prevalent bank conversion rate or forward contract rate as the case may be and the profit / loss
arising from exchange differences is recognised in the Statement of profit and loss

2 Similarly all other Foreign Currency transactions have also been recorded at exchange rate prevailing on the date
of the transaction.

Foreign Currency Fixed Deposits, Balances in Foreign Currency Bank Accounts and other Foreign Currency

3 receivables or payables are valued at year end rates and gains/losses due to exchange rate differences have
been adjusted in Profit & Loss Account

H. Investments

Company has opted to measure its investments in subsidiaries, joint ventures and associates at the Previous
GAAP (IGAAP) carrying amount as its deemed cost as on the date of transition. Provision for diminution in the
value of long-term investments is made only if such a decline is other than temporary.

The Company accounts for all its investments at Fair value through profit or loss except for Investments in
Subsidiary, Joint Venture and Associates which are stated at cost.

I. Inventories

Stock of Foreign Currency/TC held for trading purposes has been valued at cost. During the year Stock of shares
has been treated as Current Investment and resultant Gain has been booked in Income

J. Cash and cash equivalents

Cash and cash equivalents Cash and cash equivalent in the balance sheet comprise cash at banks and on hand
and short-term deposits with an original maturity of three months or less, which are subject to an insignificant
risk of changes in value in accordance with IND AS 7. For the purpose of the statement of cash flows, cash and
cash equivalents consist of cash and short-term deposits, as defined above.

K. Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection.
Revenue from operations includes sale of Foreign Exchange and Services. Interest income is recognized on time
proportion basis taking into account the amount outstanding and rate applicable.

L. Employee Benefits

The entity makes contributions to statutory provident funds in accordance with Employees Provident Fund and
Miscellaneous Provisions Act, 1952 and Employee State Insurance Act, 1948. Provident Fund and ESI are defined
contribution schemes and the contributions are charged to the profit and loss account of the year when the
contributions to the respective fund is due. There are no other obligations other than the contribution payable to
the fund.

Gratuity Liability as on 31st March 2025 has been provided for on basis of actuarial valuation basis Projected unit
credit method in accordance with IND AS-19.

Leave encashment which are short term compensated absences are charged to profit and loss account of the year
in which it is due.

M. Borrowing Costs

As per IND AS 23 Borrowing costs that are attributable to the acquisition or construction of qualifying assets (if
any) are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial
period of time to get ready for its intended use. All other borrowing costs are charged to Profit and Loss account.

N. Forex Hedging Transactions

In respect of Forex hedging transactions, gains / losses on settlement and losses on restatement are recognized
in the Profit and Loss account except in case where they relate to the acquisition or construction of fixed assets,
in which case, they are adjusted to the carrying cost of such assets.

O. Provision for Current and Deferred Tax
Current income tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the
Income-tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be
recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are
those that are enacted or substantively enacted, at the reporting date.

Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in
other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying
transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax
returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate

Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using
the tax rates and laws that are enacted or substantively enacted as on the balance sheet date. Deferred tax asset
is recognized and carried forward only to the extent that there is a virtual certainty that the asset will be realized
in future.