I. Statement of compliance:

These Financial Statements have been prepared in accordance with Indian Accounting Standards (referred
to as “Ind AS") as prescribed under Section 133 of the Companies Act, 2013 (Act) read with Companies
(Indian Accounting Standards) Rules as amended from time to time. The Financial Statements have been
prepared under historical cost convention basis except for certain financial assets and financial liabilities
which have been measured at fair value. 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. The Company's presentation and functional
currency is Indian Rupees and all values are rounded to the Lakhs.

II. Basis of preparation and presentation:

These financial statements have been prepared on historical cost basis, except for certain financial
instruments which are measured at fair value or amortized cost at the end of each reporting period, as
explained in the accounting policies below. Historical cost is generally based on the fair value of the
consideration given in exchange for goods and services. Fair value is the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. All assets and liabilities have been classified as current and non-current as per the
Company's normal operating cycle. Based on the nature of services rendered to customers and time
elapsed between deployment of resources and the realization in cash and cash equivalents of the
consideration for such services rendered, the Company has considered an operating cycle of 12 months.

III. Current and non-current classification:

The Company presents assets and liabilities in the balance sheet based on current / non-current
classification. An asset is classified as current when it satisfies any of the following criteria: it is expected
to be realized in, or is intended for sale or consumption in, the Company's normal operating cycle.

It is held primarily for the purpose of being traded Non-Current;

• It is expected to be realized within 12 months after the reporting date; or

• It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability
for at least 12 months after the reporting date.

• All other assets are classified as non-current.

• A liability is classified as current when it satisfies any of the following criteria:

• It is expected to be settled in the Company's normal operating cycle;

• It is held primarily for the purpose of being traded

• It is due to be settled within 12 months after the reporting date; or the Company does not have
an unconditional right to defer settlement of the liability for at least 12 months after the
reporting date. Terms of a liability that could, at the option of the counterparty, result in its
settlement by the issue of equity instruments do not affect its classification.

• All other liabilities are classified as non-current.

• Deferred tax assets and liabilities are classified as non-current only

• The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.

• 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.

The Standalone Financial Statements have been presented in Indian Rupees (INR),(in Lakhs) which is the
Company's functional currency. All financial information presented in INR has been rounded off to the
nearest two decimals, unless otherwise stated.

IV. Use of estimates & Judgments

The preparation of these financial statements in conformity with the recognition and measurement
principles of Ind AS requires management of the Company to make informed judgments, reasonable
assumptions and estimates that affect the amounts reported balances of Assets and Liabilities, disclosures
of contingent Liabilities as at the date of the financial statements and the reported amounts of income
and expense for the periods presented. Uncertainty about these could result in outcomes that require a
material adjustment to the carrying amount of assets or liabilities affected in the future periods. These
assumptions and estimates are reviewed periodically based on the most recently available information.
Revisions to accounting estimates are recognized prospectively in the Statement of Profit & Loss in the
period in which the estimates are revised and in any future periods affected.

In the assessment of the Company, the most significant effects of use of judgments and/or estimates on
the amounts recognized in the financial statements are in respect of the following:

• Useful lives of property, plant & equipment;

• Valuation of inventories;

• Measurement of recoverable amounts of assets / cash-generating units;

• Assets and obligations relating to employee benefits;

• Evaluation of recoverability of deferred tax assets; and

• Provisions and Contingencies

V. Functional and presentation currency:

These financial statements are presented in Indian Rupees (INR), which is the Company's functional currency.
All financial information presented in INR has been rounded to the nearest lakhs, except as stated otherwise.

VI. Significant accounting policies

A. Revenue recognition

Revenue from contract with customers is recognized upon transfer of control of promised goods/
products to customers at an amount that reflects the consideration to which the Company expect to be
entitled for those goods/ products. To recognize revenues, the Company applies the following five-step
approach:

• Identify the contract with a customer,

• Identify the performance obligations in the contract,

• Determine the transaction price,

• Allocate the transaction price to the performance obligations in the contract, and

• Recognize revenues when a performance obligation is satisfied.

1. Sale of Services

Revenue from providing services is recognised in the accounting period in which the services are
rendered. For fixed-price contracts, revenue is recognised on the basis of actual service provided vis¬
a-vis proportion of the total services to be provided.

Sale of Franchisee and other material traded are recognized net of refunds/returns and discounts, if
any, if significant risk and rewards of ownership of products are passed on to customers but
excluding GST, wherever, applicable.

Revenue from Franchisee constitute one-time franchisee fees (non-refundable) is recognized upon
receipt of fee from franchisee. The recurring revenue from franchisee and royalty is recognized on
accrual basis but excluding GST wherever applicable.

2. Sale of Books and Uniforms

Company recognises revenues on sale of products, net of discounts, sales incentives, rebates
granted, returns, GST and duties when the products are delivered to customer or when delivered to
a carrier for export sale, which is when title and risk and rewards of ownership pass to the customer.
Export incentives are recognised as income as per the terms of the scheme in respect of the exports
made and included as part of export turnover.

3. Interest income, Rental income and Miscellaneous income

Interest income from a financial asset is recognized when it is probable that the economic benefits
will flow to the Company and the amount of income can be measured reliably. Interest income is
accrued, by reference to the principal outstanding and at the effective interest rate applicable, which
is the rate that exactly discounts estimated future cash receipts through the expected life of the
financial asset to that asset's net carrying amount on initial recognition.

Retal Income and Miscellaneous income are other indirect income. Which is not related to business
of the company.

B. Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that
necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as
part of the cost of the asset. Qualifying assets are assets that necessarily take a substantial period of time
to get ready for their intended use or sale. All other borrowing costs are expensed in the period in which
they occur. Borrowing costs consist of interest and other costs that a company incurs in connection with
the borrowing of funds.

During the current financial year, the Company had no outstanding borrowings

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

C. Taxes

1. Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or
paid to the taxation authorities, based on the rates and tax laws enacted or substantively enacted, at the
reporting date in the country where the entity operates and generates taxable income.

Current tax items are recognized 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.

2. Deferred tax

Deferred tax is provided using the balance sheet approach on temporary differences at the reporting
date between the tax bases of assets and liabilities and their corresponding carrying amounts for the
financial reporting purposes.

Deferred tax assets are the amounts of income taxes recoverable in future periods in respect of:

i. deductible temporary differences;

ii. the carry forward of unused tax losses; and

iii. the carry forward of unused tax credits.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit will be available to allow all or part of the
deferred tax asset to be utilized. 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 at the tax rates that are expected to apply in the year
when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been
enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognized outside profit or loss is (either in other comprehensive income
or in equity). Deferred tax items are recognized in correlation to the underlying transaction either in OCI
or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off
current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity
and the same taxation authority.

Minimum Alternative Tax (MAT) credit is recognized as an asset only when and to the extent there is
convincing evidence that the company will pay normal income tax during the specified period. In the
year in which the MAT credit becomes eligible to be recognized an asset in accordance with
recommendations contained in Guidance Note issued by ICAI, the said asset is created by way of a credit
to the Statement of Profit and Loss and shown as MAT Credit Entitlement. The company reviews the
same at each Balance Sheet date and writes down the carrying amount of MAT Credit Entitlement to an
extent there is no longer convincing evidence to the effect that the company will pay normal Income Tax
during the specified period.

D. Leases

Company as a lessee:

Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term of land and building
(i.e., those leases that have a lease term of 12 months or less from the commencement date and do not
contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases
of office equipment that are considered to be low value.

Lease payments on short-term leases and leases of low-value assets are recognized as expense on a
straight-line basis over the lease term.

E. Employee Benefits

A liability is recognised for benefits accruing to employees in respect of wages and salaries, annual leave
and sick leave in the period the related service is rendered at the undiscounted amount of the benefits
expected to be paid in exchange for that service.

Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted
amount of the benefits expected to be paid in exchange for the related service.

Post employment and other long term employee benefits are recognized as an expense in the profit &
loss account for the year in which the liabilities are crystallized.

1. Long-term employee benefits

Post-employment and other employee benefits are recognized as an expense in the statement of profit
and loss for the period in which the employee has rendered services. A liability is recognized for benefits
accruing to employees in respect of wages and salaries, annual leave and sick leave in the period the
related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange
for that service.

2. Defined contribution plans

The company pays provident fund contributions to publicly administered provident funds as per local
regulations. The company has no further payment obligations once the contributions have been paid.
Company is complying with the provisions of Gratuity Plan as required as per INDAS 19 as per Actuarial
Report.

F. Property, plant and equipment

All items of property, plant and equipment are stated at acquisition cost of the items. Acquisition cost
includes expenditure that is directly attributable to getting the asset ready for intended use. Subsequent
costs are included in the asset's carrying amount or recognized as a separate asset, as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the company and
the cost of the item can be measured reliably. The carrying amount of any component accounted for as a
separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or
loss during the reporting period in which they are incurred.

The present value of the expected cost for the decommissioning of an asset after its use is included in
the cost of the respective asset if the recognition criteria for a provision are met.

Property, plant and equipment are eliminated from financial statement, either on disposal or when
retired from active use. Losses arising in the case of retirement of property, plant and equipment are
recognized in the statement of profit and loss in the year of occurrence.

Depreciation methods, estimated useful lives and residual value

Depreciation is calculated to allocate the cost of assets, net of their residual values, over their estimated
useful lives. Components having value significant to the total cost of the asset and life different from that
of the main asset are depreciated over its useful life. However, land is not depreciated. The useful lives
so determined are as follows:

Depreciation on fixed assets has been provided in the accounts based on useful life of the assets
prescribed in Schedule II to the companies Act, 2013 based on Straight Line Method.

Depreciation on additions is calculated on pro rata basis with reference to the date of addition.

Depreciation on assets sold/ discarded, during the period, has been provided up to the preceding month
of sale / discarded.

The residual values, useful lives and methods of depreciation of property, plant and equipment are
reviewed at each financial year end and adjusted prospectively, if appropriate.

Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are
included in profit or loss within other gains / (losses).

G. Intangibles

Intangible assets are recognized when it is probable that the future economic benefits that are
attributable to the assets will flow to the company and the cost of the asset can be measured reliably.

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible
assets acquired in a business combination is their fair value at the date of acquisition. Following initial
recognition, intangible assets are carried at cost less any accumulated amortization and accumulated
impairment losses. Internally generated intangibles, excluding capitalized development costs, are not
capitalized and the related expenditure is reflected in profit or loss in the period in which the
expenditure is incurred.

H. Inventories

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

1. Finished goods Inventories are measured at lower of cost and net realizable value. In
determining the cost of franchise materials/goods, weighted average method is used.

Net realizable value is the estimated selling price in the ordinary course of business, less
estimated costs of completion and the estimated costs necessary to make the sale.

I. Financial Instruments
• Financial assets

i. Initial recognition and measurement

All financial assets are recognized initially at fair value plus, in the case of financial assets not
recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition
of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss
are expensed in profit or loss.

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

ii. Subsequent measurement

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

a. Debt instruments at amortized cost

b. Debt instruments at fair value through other comprehensive income (FVTOCI)

c. Financial assets at fair value through profit or loss (FVTPL)

d. Equity instruments measured at fair value through other comprehensive income (FVTOCI)

iii. Debt instruments at amortized cost

A 'debt instrument' is measured at the amortized 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.

After initial measurement, such financial assets are subsequently measured at amortized cost using
the effective interest rate (EIR) method. Amortized cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortization is included in finance income in the profit or loss. The losses arising from impairment
are recognized in the profit or loss. This category generally applies to trade and other receivables.

iv. Financial instrument at FVTPL

FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria
for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the company may elect to designate a debt instrument, which otherwise meets amortized
cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or
eliminates a measurement or recognition inconsistency (referred to as 'accounting mismatch'). The
company has not designated any debt instrument as at FVTPL.

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

v. Equity investments

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are
held for trading and contingent consideration recognized by an acquirer in a business combination to
which Ind AS103 applies are classified as at FVTPL. For all other equity instruments, the company may
make an irrevocable election to present in other comprehensive income subsequent changes in the fair
value. The company makes such election on an instrument by-instrument basis. The classification is
made on initial recognition and is irrevocable.

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

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

vi. Impairment of financial assets

The company assesses impairment based on expected credit loss (ECL) model to the following:

a. Financial assets measured at amortized cost;

b. Financial assets measured at fair value through other comprehensive income (FVTOCI);

Expected credit losses are measured through a loss allowance at an amount equal to:

a. The 12-months expected credit losses (expected credit losses that result from those default
events on the financial instrument that are possible within 12 months after the reporting date);
or

b. Full time expected credit losses (expected credit losses that result from all possible default
events over the life of the financial instrument).

The company follows 'simplified approach' for recognition of impairment loss allowance on:
a. T rade receivables or contract revenue receivables; and

Under the simplified approach, the company does not track changes in credit risk. Rather, it recognizes
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, the
historical observed default rates are updated and changes in the forward-looking estimates are analyzed.

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

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

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/
expense in the statement of profit and loss (P&L). This amount is reflected under the head 'other
expenses' in the P&L.

vii. Financial assets measured as at amortized cost, contractual revenue receivables and lease
receivables

ECL is presented as an allowance, i.e., as an integral part of the measurement of those assets in the
balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off criteria,
the company does not reduce impairment allowance from the gross carrying amount.

• Financial liabilities

i. Initial recognition and measurement

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

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

ii. Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

a. Financial liabilities at fair value through profit or loss

b. Loans and borrowings

iii. De recognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or
expires. When an existing financial liability is replaced by another from the same lender on substantially
different terms, or the terms of an existing liability are substantially modified, such an exchange or
modification is treated as the de recognition of the original liability and the recognition of a new liability.
The difference in the respective carrying amounts is recognized in the statement of profit and loss.

• Off-setting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone
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.

J. Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of
changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of
cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are
considered an integral part of the company's cash management.

K. Segment accounting

The Chief Operational Decision Maker monitors the operating results of its business Segments separately
for the purpose of making decisions about resource allocation and performance assessment. Segment
performance is evaluated based on profit or loss and is measured consistently with profit or loss in the
financial statements.

The Operating segments have been identified on the basis of the nature of products/services. Company
is engaged in providing Educational Services.

The accounting policies adopted for segment reporting are in line with the accounting policies of the
company. Segment revenue, segment expenses, segment assets and segment liabilities have been
identified to segments on the basis of their relationship to the operating activities of the segment. Inter
Segment revenue is accounted on the basis of transactions which are primarily determined based on
market/fair value factors. Revenue, expenses, assets and liabilities which relate to the company as a
whole and are not allocated to segments on a reasonable basis have been included under "unallocated
revenue / expenses / assets / liabilities".

The Company is primarily engaged in the business of providing education services. These, in the context
of Ind AS 108 on Operating Segments Reporting are considered to constitute single business segment.