Financial liabilities designated upon initial recognition at fair
value through profit and 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 P&L. 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 Financial
statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation
under the liability is discharged or cancelled or expires.

Offsetting of financial instruments

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

) 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 capitalised as part of the cost of the asset. All other
borrowing costs are expensed in the period in which they occur.

Borrowing costs consist of Interest and other costs that an
entity incurs in connection with the borrowing of funds.
Borrowing cost also includes exchange differences to the
extent regarded as an adjustment to the borrowing costs."

i) Cash and cash equivalents

Cash and cash equivalent in the Financial statement of assets
and liabilities 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.

j) Events occurring after the balance sheet date

Based on the nature of the event, the company identifies
the events occurring between the balance sheet date and
the date on which the standalone financial statements are
approved as 'Adjusting Event' and 'Non-adjusting event'.
Adjustments to assets and liabilities are made for events
occurring after the balance sheet date that provide additional
information materially affecting the determination of the
amounts relating to conditions existing at the balance sheet
date or because of statutory requirements or because of their
special nature. for non-adjusting events, the company may
provide a disclosure in the standalone financial statements
considering the nature of the transaction.

k) Tax

Income tax expense represents the sum of the tax currently
payable and deferred tax.

i) Current tax

Current tax is the amount of expected tax payable based on
the taxable profit for the year as determined in accordance
with the applicable tax rates and the provisions of the
Income Tax Act, 1961.

ii) Deferred tax

Deferred tax liabilities are recognised for all taxable
temporary differences, except:

a) When the deferred tax liability arises from the initial
recognition of goodwill.

b) In respect of taxable temporary differences associated
with investments in subsidiaries, associates and
interests in joint ventures, when the timing of
the reversal of the temporary differences can be
controlled and it is probable that the temporary
differences will not reverse in the foreseeable future.
Deferred tax assets are recognised for all deductible
temporary differences, the carry forward of unused
tax credits and any unused tax losses. Deferred tax
assets are recognised to the extent that it is probable
that taxable profit will be available against which

the deductible temporary differences, and the carry
forward of unused tax credits and unused tax losses
can be utilised, except:

a) When the deferred tax asset relating to the
deductible temporary difference arises from
the initial recognition of an asset or liability in a
transaction that is not a business combination.

b) In respect of deductible temporary differences
associated with investments in subsidiaries,
associates and interests in joint ventures, deferred
tax assets are recognised only to the extent that
it is probable that the temporary differences will
reverse in the foreseeable future and taxable profit
will be available against which the temporary
differences can be utilised. 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 utilised. Unrecognised deferred tax
assets are re-assessed at each reporting date and
are recognised 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 realised, 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 recognised outside profit
or loss is recognised outside profit or loss (either in
other comprehensive income or in equity). Deferred tax
items are recognised in correlation to the underlying
transaction either in OCI or directly in equity.

iii) Current and deferred tax for the year Current and
deferred tax are recognised in profit and loss, except
when they are relating to items that are recognised
in other comprehensive income or directly in equity,
in which case, the current and deferred tax are
also recognised in other comprehensive income or
directly in equity respectively. Where current tax or
deferred tax arises from the initial accounting for a
business combination, the tax effect is included in the
accounting for the business combination.

Deferred tax assets and liabilities are offset when they
relate to income taxes levied by the same taxation
authority and the relevant entity intends to settle its
current tax assets and liabilities on a net basis.

l) Revenue Recognition
A. Sale of Goods

The Company recognises revenue when control over the
promised goods or services is transferred to the customer
at transaction price that reflects the consideration to which
the Company expects to receive in exchange for those goods
or services. The Company has generally concluded that it
is the principal in its revenue arrangements as it typically
controls the goods or services before transferring them to
the customer.

Revenue is generally adjusted for variable consideration such
as discounts, rebates, refunds, credits, price concessions,
incentives, liquidated damages or other similar deductions
in a contract except when it is highly probable it will not
be provided. The amount of revenue excludes any amount
collected on behalf of third parties.

The Company recognises revenue generally at the point in
time when the products are delivered to customer or when
it is transferred as per agreed INCOTERMS (in case of export
sale), which is when the control over product is transferred
to the customer. In contracts where freight is arranged by
the Company and recovered from the customers, the same
is treated as a separate performance obligation and revenue
is recognised when such freight services are rendered.

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. Revenue from sale of by-products are included
in revenue.

There is no significant financing component in revenue
recognition. In case of any such financing component is
there in revenue arrangements, the Company adjusts the
transaction price for financing component, if any and the
adjustment is accounted in finance cost.

B. Contract balances

(i) Contract assets

A contract asset is the right to consideration in exchange
for goods or services transferred to the customer. If the
Company performs by transferring goods or services to a
customer before the customer pays consideration or before
payment is due, a contract asset is recognised for the earned
consideration.

(ii) Trade receivables

A receivable is recognised at transaction price when the
performance obligations are satisfied and to the extent that
it has an unconditional contractual right to receive cash
or other financial assets (i.e., only the passage of time is
required before payment of the consideration is due)."

(iii) Contract liabilities

A contract liability is the obligation to transfer goods or
services to a customer for which the Company has received
consideration (or an amount of consideration is due) from
the customer. If a customer pays consideration before the
Company transfers goods or services to the customer, a
contract liability is recognised when the payment is made
or the payment is due (whichever is earlier). Contract
liabilities are recognised as revenue when the Company
performs under the contract including Advance received
from Customer.

(iv) Refund liabilities

A refund liability is the obligation to refund some or all
of the consideration received (or receivable) from the
customer and is measured at the amount the Company
ultimately expects it will have to return to the customer
including volume rebates and discounts. The Company
updates its estimates of refund liabilities at the end of each
reporting period.

m) Investment in subsidiary

Investment in subsidiary are shown at cost in accordance
with the option available in Ind AS 27, 'Separate Financial
Statements'. Where the carrying amount of an investment is
greater than its estimated recoverable amount, it is written
down immediately to its recoverable amount and the
difference is transferred to the Statement of Profit and Loss.
On disposal of investment, the difference between the net
disposal proceeds and the carrying amount is charged or
credited to the Statement of Profit and Loss.

n) Inventories

Inventories are stated at the lower of cost and net realisable
value.

a) Cost of raw materials include cost of purchase and
other costs incurred in bringing the inventories to their
present location and condition. Cost is determined on
weighted average basis.

b) Cost of finished goods and work in progress include
cost of direct materials and labour and a proportion
of manufacturing overheads based on the normal
operating capacity but excluding borrowing costs. Cost
is determined on weighted average basis.

c) Cost of traded goods include purchase cost and inward
freight. Costs is determined on weighted average basis.

Net realisable value represents the estimated selling price for
inventories less all estimated costs of completion and costs
necessary to make the sale.

o) Leases

The Company assesses at contract inception whether
a contract is, or contains, a lease. That is, if the contract
conveys the right to control the use of an identified asset
for a period of time in exchange for consideration.

The Company as a lessee

The Company applies a single recognition and measurement
approach for all leases, except for short-term leases and
leases of low-value assets. The Company recognises lease
liabilities to make lease payments and right-of use assets
representing the right to use the underlying assets.

Right-of-use assets

The Company recognises right-of-use assets at the
commencement date of the lease (i.e., the date the
underlying asset is available for use). Right-of-use assets are
measured at cost, less any accumulated depreciation and
impairment losses, and adjusted for any remeasurement
of lease liabilities. The cost of right-of-use assets includes
the amount of lease liabilities recognised, initial direct
costs incurred, and lease payments made at or before the
commencement date less any lease incentives received. The
recognised right-of-use assets are depreciated on a straight¬
line method over the estimated useful life and the lease term
is as follows:

Lease liabilities

At the commencement date of the lease, the Company
recognises lease liabilities measured at the present value of
lease payments to be made over the lease term.

In calculating the present value of lease payments, the
Company uses the incremental borrowing rate at the lease
commencement date if the interest rate implicit in the lease
is not readily determinable. The lease payments include
fixed payments (including in substance fixed payments
less any incentives receivable variable lease payments
and amount payable under residual value guarantees).
After the commencement date, the amount of lease
liabilities is increased to reflect the accretion of interest
and reduced for the lease payments made. In addition, the
carrying amount of lease liabilities is remeasured if there is
a modification, a change in the lease term, a change in the
lease payments (e.g., changes to future payments resulting
from a change in an index or rate used to determine such
lease payments) or a change in the assessment of an option
to purchase the underlying asset.

Short-term leases and lease of low value assets

The Company applies the short-term lease recognition
exemption to its short-term leases (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) and lease of low
value assets.

p) Employee Benefit Expenses

a) Short term employee benefits:

A liability is recognised for benefits accruing to employees
in respect of wages, salaries and annual leaves 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.

b) Long term employee benefits:

Liabilities recognised in respect of long term employee
benefits are measured at the present value of the estimated
future cash outflows expected to be made by the Company

in respect of services provided by employees up to the
reporting date.

The Company operates a defined benefit gratuity plan
in India. 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
profit or loss in subsequent periods.

Past service costs are recognised in profit or loss on the
earlier of:

(i) The date of the plan amendment or curtailment, and

(ii) The date that the Company recognizes 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:

(i) Service costs comprising current service costs, past-
service costs, gains and losses on curtailments and
nonroutine settlements; and

(ii) Net interest expense or income

The liabilities for earned leave are not expected to be settled
wholly within 12 months after the end of the period in which
the employees render the related service. They are therefore
measured as the present value of expected future payments
to be made in respect of services provided by employees
up to the end of the reporting period using the projected
unit credit method. The benefits are discounted using the
market yields at the end of the reporting period that have
terms approximating to the terms of the related obligation.
Remeasurements as a result of experience adjustments and
changes in actuarial assumptions are recognised in profit or
loss. The obligations are presented as current liabilities in the
balance sheet if the entity does not have an unconditional
right to defer the settlement for at least twelve months after
the reporting date.

c) Termination benefits:

A liability for a termination benefit is recognised at the earlier
of when the entity can no longer withdraw the offer of the
termination benefit and when the entity recognises any
related restructuring costs.

d) Defined contribution plans:

Payments to defined contribution retirement benefit
plans are recognized as an expense when employees
have rendered service entitling them to the contributions.
Payments made to state managed retirement benefit plans
are accounted for as payments to defined contribution
plans where the Company's obligations under the plans
are equivalent to those arising in a defined contribution
retirement benefit plan.

e) Defined benefit plans:

For defined benefit retirement benefit plans, the cost of
providing benefits is determined using the Projected Unit
Credit Method, with actuarial valuations being carried out at
the end of each annual reporting period. Remeasurements
comprising actuarial gains and losses, the effect of the asset
ceiling (if applicable) and the return on plan assets (excluding
interest) are recognised immediately in the balance sheet
with a charge or credit to other comprehensive income in
the period in which they occur. Remeasurements recognised
in other comprehensive income are not reclassified. Actuarial
valuations are being carried out at the end of each annual
reporting period for defined benefit plans.

The retirement benefit obligation recognised in the
standalone financial statements represents the deficit or
surplus in the Company's defined benefit plans. Any surplus
resulting from this calculation is limited to the present value
of any economic benefits available in the form of refunds
from the plans or reductions in future contributions to the
plans. The Company pays gratuity to the employees whoever
has completed five years of service with the Company at the
time of resignation/ superannuation. The gratuity is paid @
15 days salary for each completed year of service as per the
Payment of Gratuity Act, 1972.

q) Foreign Currency

The functional currency of the Company is determined on
the basis of the primary economic environment in which it
operates. The functional currency of the Company is Indian
National Rupee.

The transactions in currencies other than the entity's
functional currency (foreign currencies) are recognised
at the rates of exchange prevailing at the dates of the
transactions. At the end of each reporting year, monetary
items denominated in foreign currencies are retranslated at
the rates prevailing at that date. Non-monetary items carried
at fair value that are denominated in foreign currencies are
retranslated at the rates prevailing at the date when the
fair value was determined. Non-monetary items that are
measured in terms of historical cost in a foreign currency
are translated using exchange rate at the dates of initial
recognition.

According to Appendix B of Ind AS 21 "Foreign currency
transactions and advance consideration", purchase or
sale transactions must be translated at the exchange
rate prevailing on the date the asset or liability is initially
recognised. In practice, this is usually the date on which the

advance payment is paid or received. In the case of multiple
advances, the exchange rate must be determined for each
payment and collection transaction.

Exchange differences on monetary items are recognised in
statement of profit and loss.

2.3 Recent pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standards
or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to
time. For the year ended March 31,2025, MCA has introduced
key amendments to the Companies (Indian Accounting
Standards) Rules, 2015, effective 1 April 2024, affecting
Ind AS 117 (Insurance Contracts) and Ind AS 116 (Leases).
The Company has reviewed the new pronouncements and
based on its evaluation has determined that it does not have
any significant impact in its financial statements.

Note-36 First time adoption of Ind AS

As stated in note 2, the financial statements for the year ended March 31,2025 would be the first annual financial statements prepared
in accordance with Ind AS. For periods up to and including the year ended March 31,2024, the Company had prepared its financial
statements in accordance with accounting standards notified under section 133 of the Companies Act 2013 and other relevant provisions
of the Act ('previous GAAP').

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending on March 31,
2025, together with the comparative period data as at and for the year ended March 31,2024, as described in the summary of significant
accounting policies. In preparing these financial statements, the Company's opening balance sheet was prepared as at April 1,2023,
the Company's date of transition to Ind AS. This note explains the principal adjustments made by the Company in restating its previous
GAAP financial statements, including the balance sheet as at April 1, 2023 and the financial statements as at and for the year ended
March 31,2024.

This note explains exemptions availed by the Company in restating its previous GAAP financial statements, including the balance sheet
as at April 01,2023 and the financial statements as at and for the year ended March 31,2024.

Exemptions applied:

Ind AS 101, First-time adoption of Indian Accounting Standards allows first time adopters of Ind AS certain optional exemptions and
mandatory exceptions from the retrospective application of certain Ind AS. The Company has applied the following exemptions and
mandatory exceptions in the transition from previous GAAP to Ind AS.

(i) Mandatory exceptions:

a) Estimates

The estimates at April 1,2023 and at March 31,2024 are consistent with those made for the same dates in accordance with Previous
GAAP apart from the following items where application of Previous GAAP did not require estimation:

• Impairment of financial assets based on expected credit loss model.

The estimates used by the Company to present these values in accordance with Ind AS reflect conditions as at April 1,2023 and
March 31,2024.

b) De-recognition of financial assets:

The company has applied the de-recognition requirements in Ind AS 109 prospectively for transactions occurring on or after the
date of transition to Ind AS.

(ii) Optional exemptions:

Ind AS 101 allows first time adopters certain exemptions from the retrospective application of certain requirements under Ind AS.
The Company has applied the following exemptions:

a) Deemed cost-Previous GAAP carrying value:

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as
recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as
its deemed cost as at the date of transition after making necessary adjustments.

Accordingly, the company has elected to measure all of its property, plant and equipment at their previous GAAP carrying value.
Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as
recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its
deemed cost as at the date of transition. This exemption can also be used for intangible assets covered by Ind AS 38. Accordingly,
the Company has elected to measure all of its property, plant and equipment and Intangible assets at their previous GAAP carrying
value.

b) Investments in subsidiary and associates

As per Ind AS 27, the Company has an option to value its investments in subsidiaries and associates either at Previous GAAP value
or Fair value as deemed cost. The Company has opted for previous GAAP values for its subsidiary as per exemptions available on
transition.

Notes to the reconciliation:

(i) Transition to Ind AS 116 Leases

The Company has applied Ind AS 116 using the modified retrospective approach wherein as on the Transition date, the Lease liability
is measured at the present value of the remaining lease payments using incremental borrowing rate and measured ROU Asset as if
the new standard had always been applied but using the incremental borrowing rate at the date of initial application. The right-of-use
asset is subsequently depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset
or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property,
plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain
re-measurements of the lease liability.

(ii) Valuation of Security Deposits

As per Ind AS 109 and Ins AS 116, all financial assets and liabilities are required to be measured at their respective fair value. The
interest free refundable security deposits are financial assets and are thus required to be measured at present value using
an appropriate discount rate at the time of entering into lease agreement. The difference between the fair value and the
transaction price has been recognised as prepaid rent and is amortised over the period of the lease on straight-line basis.
The prepaid rent has been added to Right of use asset in case where the same has been created on lease arrangements.
Subsequently, these security deposits have been measured at amortised cost and the resultant interest is accounted as finance income.

(iii) Remeasurements on defined benefit liability

Both under Previous GAAP and Ind AS the Company recognised costs related to post-employment defined benefit plan on an actuarial
basis. Under Previous GAAP, actuarial gains and losses were recognised in the Statement of profit or loss, however under Ind AS all
actuarial gains and losses are recognised in other comprehensive income.

Note 40 : Financial instruments - Fair values and risk management
Fair value hierarchy

The following table provides the fair value measurement hierarchy of the Company's assets and liabilities.

Level 1 - Quoted prices in active market for identical assets or liabilities

Level 2 - Input other than quoted prices included within level 1 that are observable for the assets and liabilities, either directly (i.e. as
prices) or indirectly i.e. derived from prices)

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)

The following methods / assumptions were used to estimate the fair values:

The carrying value of trade receivables, cash and cash equivalents, trade payables and other current financial assets and other current
financial liabilities measured at amortised cost approximate their fair value due to the short-term maturities of these instruments.

B. Financial Risk Management
Financial risk factors

The Company's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk.

The Company's focus is to foresee the unpredictability of financial markets and seek to minimize potential Company's exposure to credit
risk is influenced mainly by the individual characteristic of each customer.

Risk management is carried out by senior management for cash and cash equivalent, trade receivable, deposits with banks, foreign
currency risk exposure and liquidity risk.

(a) 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 risk: interest rate risk, foreign currency risk and other price risk, such as equity price risk
and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits. The Company has in
place appropriate risk management policies to limit the impact of these risks on its financial performance. The Company ensures
optimization of cash through fund planning and robust cash management practices.
i) Interest Rate Risk
1) Liabilities

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The policy of the Company is to minimise interest rate cash flow risk exposures on long¬
term loans and borrowings. As at 31 March 2025, the company is exposed to changes in market interest rates through
loans and bank borrowings at variable interest rates.

2) Assets

The Company's fixed deposits are carried at amortised cost and are fixed rate deposits. They are therefore not subject
to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate
because of a change in market interest rates.

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. The entire revenue and majority of the expenses of the Company are denominated in Indian Rupees.
Management considers currency risk to be low and does not hedge its currency risk. As variations in foreign currency exchange
rates are not expected to have a significant impact on the results of operations, a sensitivity analysis is not presented.

(b) Credit risk

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according to the contractual terms
or obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as
concentration of risks. The Company is exposed to credit risk from its operating activities (primarily trade receivables and unbilled
receivable) and from its financing activities, including deposits with banks and financial institutions and other financial instruments.
Trade receivables are typically unsecured and are derived from revenue earned from customers primarily located in India. Credit
risk has always been managed by the Company through credit approvals and continuously monitoring the credit worthiness of
customers to which the Company grants credit terms in the normal course of business. On account of adoption of Ind AS 109, the
Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to compute
the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal
credit risk factors such as the Company's historical experience for customers.

The company has established an allowance for impairment that represents its expected credit losses in respect of trade and
other receivables. The management uses a simplified approach for the purpose of computation of expected credit loss for trade
receivables and 12 months expected credit loss for other receivables. An impairment analysis is performed at each reporting date
on an individual basis for major parties. In addition, a large number of minor receivables are combined into homogenous categories
and assessed for impairment collectively. The calculation is based on historical data of actual losses.

Excessive Concentration of Credit risk:

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same
geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly affected
by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company's performance
to developments affecting a particular industry. In order to avoid excessive concentrations of risk, the senior management of the
Company monitor, control, and manage the concentrations of identified credit risks at a regular interval.

(c) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management
is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. Ultimate responsibility for
liquidity risk management rests with the Board, which has established an appropriate liquidity risk management framework for
the management of the Company's short, medium and long-term funding and liquidity management requirements. The company's
principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company
manages liquidity risk by maintaining adequate cash reserves, by continuously monitoring forecast and actual cash flows, and by
matching the maturity profiles of financial assets and liabilities.

Note 42 : Other Additional Regulatory Information

1. During the For the year ended March 31,2025 the Company has not announced any dividend.

2. The company did not have any material transactions with companies struck off under section 248 of the companies Act 2013 or
section 560 of companies act, 1956 during the financial year March 31,2025 and March 31,2024.

3. (i) During the year and subsequent to the year-end, the management has maintained proper books of account as required by

law for keeping backup on daily basis of such books of account maintained in electronic mode in India.

(ii) The Company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable loses.

(iii) There were no amounts required to be transferred to the Investor Education and Protection Fund by the Company.

4. Ministry of Corporate Affairs (MCA) vide its notification number G.S.R. 206(E) dated March 24, 2021 (amended from time to time) in
reference to the proviso to Rule 3 (1) of the Companies (Accounts) Amendment Rules, 2021, introduced the requirement, where a
company used an accounting software, of only using such accounting software w.e.f April 01,2023 which has a feature of recording
audit trail of each and every transaction.

The Company has assessed all of its IT applications including supporting applications considering the guidance provided in
"Implementation guide on reporting on audit trail under rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (Revised
2024 edition)" issued by the Institute of Chartered Accounts of India in February 2024, and identified applications that are relevant
for maintaining books of accounts. The Company has an IT environment which is adequately governed with General information
technology controls (GITCs) for financial reporting process.

In respect of the primary accounting software and certain inhouse developed software, audit trail was not enabled at the database
level to log any direct data changes throughout the year.

In respect of another software used for maintenance of payroll records whose database is maintained by a third party software
service provider, the Company is in the discussion with the third party service provider to implement audit trail feature at
database level.

5. As per the information and explanations provided to us and to the best of our knowledge and belief, no proceedings have been
initiated or are pending against the Company under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.
The Company does not hold any benami property and has not been a party to any such transaction during the year ended
March 31,2025.

6. The Company has not been declared a wilful defaulter by any bank or financial institution or other lender.

7. The Company has not entered into any charge or satisfaction of charge which is required to be filed with the Registrar of Companies
(ROC) but has not been filed beyond the statutory period under the Companies Act, 2013.

8. The Company has not traded, nor invested in any Crypto currency or virtual currency during the For the year ended March 31,2025
and March 31,2024.

9. No funds have been advanced / loaned / invested (from borrowed funds or from share premium or from any other sources / kind
of funds) by the Company to any other person(s) or entity(ies), including foreign entities (Intermediaries), with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee,
security or the like to or on behalf of the Ultimate Beneficiaries.

No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (Funding Parties), with
the understanding (whether recorded in writing or otherwise) that the Company shall (i) 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 (ii)
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

10. There is no Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the year ended March 31,2025 and March 31,2024.

12. Unhedged foreign currency exposure:

The company have unhedged foreign currency exposure as at the reporting date of USD 1.97 lakhs (payable) [PY 0.13 lakhs
(payable)]

13. Pending Litigations:

The company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The company's
management does not reasonably expect that these legal actions, when ultimately concluded and determined, will have a material
and adverse effect on the company's results of operations or financial condition.

14. IPO Utilisation:

During the year ended March 31,2024, the Company had completed its Initial Public Offer (IPO) of 64,80,000 equity shares of
face value H10 each at an issue price of H115 per share (including a share premium of H105 per share). The complete public issue
comprised of fresh issue of 64,80,000 equity shares aggregating to H7452 lacs. Pursuant to IPO, the equity shares of the Company
were listed on EMERGE platform National Stock Exchange of India Limited (NSE) for SMEs on Feb 15, 2024.

Net proceeds which were unutilised as at March 31,2025 were temporarily invested in deposits with scheduled commercial banks
account.

There is no material deviation or variation in the utilisation of IPO proceeds, the same has only been utilised for the objects specified
in the issue document.

15. The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company
towards Provident Fund and Gratuity. The Ministry of Labour and Employment had released draft rules for the Code on Social
Security, 2020 on November 13, 2020. The Company will assess the impact and its evaluation once the subject rules are notified.
The Company will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the
related rules to determine the financial impact are published.

16. The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on Number of Layers) Rules, 2017.

17. Balances of Debtor, Creditor and Advances are subject to confirmation and subsequent reconciliations.

18. Previous year figures have been regrouped / reclassified, wherever necessary.

In terms of our report of even date attached

For Seth & Seth For and on behalf of the board of directors of

Chartered Accountants Alpex Solar Limited

Firm registration number : 014842N

Ashwani Sehgal Monica Sehgal

Sumit Seth Managing Director Whole Time Director

Partner DIN-00001210 DIN-00001213

Membership no : 093161

UDIN: Amit Ghai Sakshi Tomar

Chief Financial Officer Company Secretary

Place: New Delhi M.NO. A48936

Date: May 21,2025