(l) Provisions, contingent liabilities and
contingent asset

Provisions are recognised when the
company has a present obligation (legal
or constructive) as a result of a past event,
it is probable that an outflow of resources
embodying economic benefits will be
required to settle the obligation, and
a reliable estimate can be made of the
amount of the obligation. The expense
relating to any provision is presented in
the statement of profit and loss net of any
reimbursement. If the effect of the time
value of money is material, provisions are
determined by discounting the expected
future cash flows at a pre-tax rate that
reflects current market assessments of
the time value of money and, where
appropriate, the risks specific to the liability.
Where discounting is used, the increase in
the provision due to the passage of time is
recognised as other finance expense.

A contingent liability is a possible
obligation that arises from past events
whose existence will be confirmed by
the occurrence or non-occurrence of one
or more uncertain future events beyond
the control of the company or a present
obligation that Is not recognized because it
is not probable that an outflow of resources
will be required to settle the obligation. A
contingent liability also arises in extremely
rare cases where there is a liability that
cannot be recognized because it cannot
be measures reliably. The company does
not recognize a contingent liability but
discloses its existence in the financial
statements.

A contingent asset is not recognised in
the financial statements unless it becomes
virtually certain that an inflow of economic
benefits will arise and is probable.
contingent liabilities and contingent assets
are reviewed at each balance sheet date.

(m) Employee benefits

(i) Short term employee benefit
obligations

Liabilities for wages and salaries,
including non-monetary benefits
that are expected to be settled wholly
within 12 months after the end of the
period in which the employees render
the related service are recognised in
respect of employees' services up
to the end of the reporting period
and are measured at the amounts
expected to be paid when the
liabilities are settled. The liabilities
are presented as current employee
benefit obligations in the balance
sheet.

(ii) Other long-term employee benefit
obligations

The liabilities for accumulating
compensated absences not expected
to be settled wholly within 12 months
after the end of the period in which
the employees render the related
service are measured at the present
value of expected future payments
to be made in respect of services
provided using the projected unit
credit method. The benefits are
discounted using the appropriate
market yields at the end of the

(b) Defined contribution plans
Provident fund: The

company pays provident
fund contributions to publicly
administered funds as per local
regulations. The company has
no further payment obligations
once the contributions have
been paid. The contributions
are accounted for as defined
contribution plans and the
contributions are recognized
as employee benefit expense as
and when they are due.

State insurance plans:

Employer's contribution to
Employee State Insurance plan
is charged to Statement of Profit
and Loss as and when due.

(n) Dividends

Provision is made for the amount of any
dividend declared, being appropriately
authorized and no longer at the discretion
of the entity, and not distributed on or
before the end of the reporting period.
Dividend is recognised as a liability in the
period in which the interim dividends
are approved by the Board of Directors,
or in respect of the final dividend when
approved by shareholders.

(o) Earnings per share

Basic earnings per share is calculated by
dividing the profit or loss after tax for the
period attributable to equity shareholders
by the weighted average number of equity
shares outstanding during the period.

For calculating diluted earnings per share,
the profit or loss after tax for the period
attributable to equity shareholders and
the weighted average number of shares
outstanding during the period are adjusted
for the effects of all dilutive potential equity
shares.

[p) Rounding of amounts

All amounts disclosed in the standalone
financial statements and notes have been
rounded off to the nearest lakhs as per
the requirement of Schedule III, unless
otherwise stated.

q) Recent accounting pronouncements
1. New and amended standards
adopted by the Company

The Ministry of Corporate Affairs
vide notification dated May 7, 2025
and August 13, 2025 notified the
Companies (Indian Accounting
Standards) Amendment Rules, 2025
and Companies (Indian Accounting
Standards) Second Amendment
Rules, 2025, respectively, which
amended certain accounting
standards (see below), and are
effective for annual reporting periods
beginning on or after April 1, 2025:

i. Classification of Liabilities as
Current or Non-current and
Non-current Liabilities with
Covenants - Amendments to
Ind AS 1

As a result of the adoption
of the amendments to Ind
AS 1, the Company changed

iii. International Tax Reform
- Pillar Two Model Rules -
Amendments to Ind AS 12

The Company is not within
the scope of the OECD Pillar
Two Model Rules, as Pillar
Two legislation has not yet
been enacted in any of the
jurisdictions in which the
Company operates.

iv. Lack of Exchangeability -
Amendments to Ind AS 21

The amended Ind AS 21 have
added requirements to help
entities to determine whether
a currency is exchangeable into
another currency, and the spot
exchange rate to use where it is
not.

These amendments did not
have any material impact on
the amounts recognised in prior
periods and are not expected to
significantly affect the current or
future periods

2. New standards or amendments not
yet adopted

Classification of Liabilities as
Current or Non-current and Non¬
current Liabilities with Covenants
- Amendments to Ind

AS 1 - This amendment also includes
specific provisions that will take effect

for reporting periods beginning on or
after April 1,2026, as outlined below.

Under the existing Ind AS 1, where
there is a breach of a material
provision of a long-term loan
arrangement on or before the end of
the reporting period with the effect
that the liability becomes payable on
demand on the reporting date, the
entity does not classify the liability
as current, if the lender agreed, after
the reporting period and before the
approval of the financial statements
for issue, not to demand payment as
a consequence of the breach.

However, the amended requirements
stipulate that entities will no longer
be permitted to consider lender
waivers that are granted after
the reporting date but before the
financial statements are approved for
the purpose of classification of loans.
This amendment is required to be
applied retrospectively in accordance
with Ind AS 8. The Company does not
expect this amendment to have an
impact on its operations or financial
statements.

(v) Terms and rights attached to equity shares

The company has only one class of equity shares having face value of C10/- per share. The
company declares and pay dividend in Indian rupees. The holder of equity shares is entitled
to dividend right in the same proportion to the paid up capital. The dividend proposed by the
Board of Directors is subject to approval of shareholders in the ensuing annual general meeting
except in case of interim dividend. In the event of liquidation of the company, the holders of
equity shares are entitled to receive remaining assets of the company, after distribution of all
preferential amounts, in proportion to the number of equity shares held by them. Every holder
of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a
poll each share is entitled to one vote.

Note 29:

(i) Defined contribution plans

Employer's contribution to provident fund: Contributions are made to provident fund for
entitled employees at the prescribed rate as per regulations. The contributions are made to
registered provident fund administered by the government. The obligation of the company
is limited to the amount contributed and it has no further contractual nor any constructive
obligation.

Employer's contribution to state insurance scheme: Contributions are made under state
insurance scheme for entitled employees at the prescribed rate. The obligation of the company
is limited to the amount contributed and it has no further contractual nor any constructive
obligation.

(ii) Defined benefits plans

Post-employment obligations- Gratuity

The company provides for gratuity payments to employees as per the payment of Gratuity Act,
1972. The amount of gratuity payable on retirement/termination based on the employees last
drawn basic salary per month and the number of years of services with the company. Employees
who are in continuous service for 5 years or more are eligible for gratuity

Effective October 01,2010 the company established Alphageo India Limited employee's group
gratuity trust to administer the gratuity obligations in respect of employees other than whole
time directors, who are holding more than 5% of the shareholding of the company. The gratuity
plan is funded through group gratuity accumulation plan of Life insurance corporation of India.

The above sensitivity analysis are based on a change in an assumption while holding all other
assumptions constant. In practice, this is unlikely to occur and changes in some of the assumptions
may be correlated. When calculating the sensitivity of the defined benefit obligation to significant
actuarial assumptions, the same method (present value of the defined benefit obligation calculated
with the projected unit credit method at the end of the reporting period) has been applied as when
calculating the defined benefit liability recognised in the balance sheet. The methods and types of
assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

Defined benefit liability and employer contributions

The company has purchased insurance policy to provide for payment of gratuity to the employees
other than whole time directors, who are holding more than 5% of the shareholding of the company.
Every year, the insurance company carries out a funding valuation based on the latest employee data
provided by the company. Any deficit in the assets arising as a result of such valuation is funded by the
company. The company considers that the contribution rate set at the last valuation date is sufficient
to eliminate the deficit over the agreed period and that regular contributions, which are based on
service costs will not increase significantly.

The weighted average duration of the defined benefit obligation is 4 years (March 31,2025: 4 Years).
The expected future cash flows over the next years, which will be met out of planned assets, is as
follows:

Salary cost inflation risk: The present value of the defined benefit plan liability is calculated with
reference to the future salaries of participants under the plan. Increase in salary due to adverse
inflationary pressures might lead to higher liabilities.

Financial instruments and Risk management
Note 30: Fair value hierarchy

Fair value of the financial instruments is classified in various fair value hierarchies based on the
following three levels:

Level 1: Inputs are quoted prices (unadjusted) in active market for identical assets or liabilities.

Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of
financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data and rely as little as possible
on entity-specific estimates. If significant inputs required to fair value an instrument are
observable, the instrument is included in Level 2.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable
inputs). If one or more of the significant inputs is not based on observable market data, the
instrument is included in level 3. This is the case with listed instruments where market is
not liquid and for unlisted instruments.

Note:

The carrying amounts of trade payables, other financial liabilities, cash and cash equivalents, other
bank balances, loans and trade receivables are considered to be the same as their fair values due to
their short term nature and recoverability from/by the parties.

Risk management

The significant risks the company has in administering defined benefit plans are :

Interest rate risk: This may arise from volatility in asset values due to market fluctuations and
impairment of assets due to credit losses. These plans primarily invest in debt instruments such
as Government securities and highly rated corporate bonds - the valuation of which is inversely
proportional to the interest rate movements.

Note 32: Financial risk management

The company's activities expose it to credit risk, market risk and liquidity risk. The company emphasis
on risk management and has an enterprise wide approach to risk management. The company's risk
management and control procedures involve prioritization and continuing assessment of these risks
and device appropriate controls, evaluating and reviewing the control mechanism.

(A) Credit risk:

Credit risk is the risk of financial loss to the company if a customer to a financial instrument fails
to meet its contractual obligations .The company is exposed to credit risk from its operating
activities (primarily trade receivables) and from its financing activities, including deposits with
banks. Credit risk of the company is managed at the company level. Credit risk on cash and cash
equivalents is limited as the company generally invests in term deposits with banks thereby
minimising its risk.

The credit risk related to trade receivables is influenced mainly by the individual characteristics
of each customer. The credit risk is managed by the company by establishing credit limits and
continuously monitoring the credit worthiness of the customers. Financial assets are written off
when there is no reasonable expectation of recovery.

(B) Market risk:

Market risk is the risk that the future value of a financial instrument will fluctuate due to moves
in the market factors. The most common types of market risks are interest rate risk and foreign
currency risk.

i) Interest rate risk

Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument
will fluctuate because of changes in market interest rates. The interest rate risk is towards term
deposits with banks. The company manages its market interest rates by fixed rate interest hence,
the company is not significantly exposed to interest rate risks .

ii) Price risk

The company is exposed to risk from investments in mutual funds, bonds and debentures.
The company has invested in quoted and unquoted investments with various mutual funds,
bonds and debentures. The company is very cautious in their investment decisions and takes a
conservative approach of investing in hybrid mutual funds, bonds and debentures with minimal
risk. The table below summarises the impact of increase/(decrease) in the net asset value (NAV)
of these investments.

(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.

The company manage its risk from their principle source of resources such as cash and cash
equivalents , cash flows that is generated from operations and to ensure, as far as possible , that
it will always have sufficient liquidity to meet the liabilities.

Note 34(b) : During the financial year 2021-22, the Income Tax Department raised a demand on the
Company in connection with disallowance of excess depreciation claimed on import of machinery,
amounting to C601.53 lakhs. Further, during the financial year 2024-25, the Managing Director
received a separate tax demand of C1,644.78 lakhs in his personal capacity in relation to the same
matter, which has been indemnified by the Company and accordingly recognised as a non-current
income tax asset.Based on external expert opinion obtained and management's assessment of the
facts and circumstances of the case, the Company believes that the matter is defensible on merits
and the likelihood of an outflow of economic resources is not probable. Accordingly, no provision
has been recognised in the financial statements in respect of this matter.The aggregate exposure in
respect of the above matter amounting to C2,246.31 lakhs has been disclosed as a contingent liability.

Note 35 : During the financial year 2022-23, the Directorate of Enforcement provisionally seized fixed
deposits aggregating C1,601.08 lakhs alleging contravention under the provisions of FEMA, 1999.
During the current year, the Company received a show cause notice dated 29 January 2026 from the
adjudicating authority in relation to the aforesaid matter. The matter is presently under adjudication.
Based on legal opinion obtained, management believes that the Company has a strong case on merits
and the likelihood of material outflow is not probable at this stage. Accordingly, no provision has been
recognised in the financial statements in respect of this matter. However, considering the pending
proceedings, the matter has been disclosed as a contingent liability.

Note 36 : Payables to Micro, Small & Medium Enterprises

Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 ("Act") as given below has been determined
to the extent such parties have been identified on the basis of information available with the
company:

Note 38 : Segment information

(a) Description of segments and principal activities

The Chairman and Managing Director has been identified as the Chief Operating Decision Maker
(CODM). Operating segments are defined as components of an enterprise for which discrete
financial information is available. This is evaluated regularly by the CODM, in deciding how
to allocate resources and assessing the company's performance. The company is engaged in
seismic service and operates in a single operating segment.

In accordance with paragraph 4 of Ind AS 108- " Operating Segments" the company has disclosed
segment information only on the basis of consolidated financial statements which are presented
together along with the standalone financial statements.

Note 39: Interest in other entities

The company's subsidiaries as at March 31,2026 are set out below. Unless otherwise stated, they have
share capital consisting solely of equity shares that are held directly by the company.

Reasons for variance

Current ratio : Change on account of increase in trade payables

Net capital turnover ratio: Change on account of Increase in operating revenue and and improved
utilization of working capital resources.

Trade receivable turnover ratio: Change on account of increase in operating revenue and trade
receivable.

Note 44 (i): No funds have been advanced or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds) by the company to or in any other person(s) or
entity(is), including foreign entities ("Intermediaries") with the understanding, whether recorded in
writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the
company (Ultimate beneficiaries). The company has not received any fund from any party(s) (Funding
party) with the understanding that the company shall whether, directly or indirectly lend or invest
in other persons or entities identified by or on behalf of the company ("Ultimate beneficiaries") or
provide any guarantee, security or the like on behalf of the ultimate beneficiaries.Except as mentioned
in Note 40

Note 44 (ii): No funds have been received by the company from any person or entity, including foreign
entity ("Funding parties"), with the understanding, whether recorded in writing or otherwise, that the
company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in
any manner whatsoever by or on behalf of the funding party ("Ultimate beneficiaries") or provide any
guarantee, security or the like on behalf of the ultimate beneficiaries.Except as mentioned in Note 40

Note 45: Other statutory information

(i) The company does not have any benami property, where any proceeding has been initiated or
pending against the Company for holding any benami property.

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

(iii) The company have not traded or invested in crypto currency or virtual currency during the
financial year.

(iv) The company does not have any such transaction which is not recorded in the books of accounts
that has been surrendered or disclosed as income during the year in the tax assessments under
the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the
Income Tax Act, 1961)

(v) The company has not been declared as wilful defaulter by any banks, financial institution or other
lenders.

(vi) The company has not entered into any scheme of arrangements which has an accounting impact
on current and previous financial year.

(vii) The company has complied with the number of layers prescribed under the Companies Act,
2013.

(viii) The company does not have any transactions with a company struck-off under section 248 of
the Companies Act, 2013

(ix) The company not revalued its property plant and equipment and intangible assets during the
current and previous years.

Note 46: The figures for the previous year have been reclassified / regrouped wherever necessary to

conform to current year's classification.