I. Provisions (other than for employee benefits)

A provision is recognised if, as a result of a past event,
the Company has a present legal or constructive

obligation that can be estimated reliably, and it is
probable that an outflow of economic benefits will
be required to settle the obligation. Provisions are
determined by discounting the expected future
cash flows (representing the best estimate of the
expenditure required to settle the present obligation
at the balance sheet date) at a pre-tax rate that reflects
current market assessment of the time value of money
and the risks specific to the liability. The unwinding of
the discount is recognised as finance cost. Expected
future operating losses are not provided for.

J. Revenue

The Company earns revenue from sale of products
in pain management, congestion management,
beverages, women's hygiene and others. The
Company also earns revenue from sale of services in
pain management.

Disaggregation of revenue

The Company disaggregates revenue from contracts
with customers by the nature of sale i.e. manufactured
and traded goods and based on the reporting segments
based on the information reviewed by the CODM. The
Company believes that this disaggregation is the
best description on how the nature, amount, timing
and uncertainty of our revenues and cash flows are
affected by industry, market and other economic
factors. Also refer note 22.

Variable consideration

If the consideration in a contract includes the variable
amount, the Company estimates the amount of
consideration to which it will be entitled in exchange
for transferring the goods to the customer. The
variable consideration is estimated at contract
inception and constrained until it is highly probable
that a significant revenue reversal in the amount of
cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration
is subsequently resolved.

Stockist incentives, claims and schemes

Arrangements with customers includes a provision for
stockist incentives, discount schemes and claims. In
those instances, where there is a valid expectation from
the customers to receive a incentive / discount / recover
claims, the amount of variable consideration which is
included in the transaction price may be constrained,
unless included in the net sales price only to the extent
that it is probable that a significant reversal in the
amount of the cumulative revenue recognised under

the arrangement will not occur in a future period. The
Company applies the most likely amount method for
determining the stockist incentives, discount schemes
and claims.

Contract balances
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 that
is conditional.

Trade receivables

A receivable represents the Company's right to an
amount of consideration that is unconditional (i.e. only
the passage of time is required before payment of the
consideration is due). Refer to accounting policies of
financial assets - note 3C - financial instruments -
initial recognition and subsequent measurement.

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.

Performance obligations and revenue recognition
policies

Revenue is recognised upon transfer of control of
promised products or services to customers in an
amount that reflects the consideration which the
Company expects to receive in exchange for those
products or services.

The following details provides information about the
nature and timing of the satisfaction of performance
obligations in contracts with customers, including
significant payment terms, and the related revenue
recognition policies.

i) Sale of goods and services

Nature and timing of satisfaction of performance
obligations, including significant payment terms

Revenue from sale of goods is recognized when
control of the products being sold is transferred to our
customer and when there are no longer any unfulfilled
obligations, depending on individual terms. The
performance obligations in our contracts are fulfilled at
the time of dispatch, delivery or upon formal customer
acceptance depending on customer terms. Revenue
towards satisfaction of performance obligation is
measured at the amount of transaction price (net of
variable consideration) allocated to that performance
obligation. The transaction price of the goods sold
and services rendered is net of variable consideration
on account of stockist incentives, discount schemes
and claims offered by the Company as part of the
contract and any taxes or duties collected on behalf
of the Government such as goods and services tax, etc.
Accumulated experience is used to estimate provision
for stockist incentives, discount schemes and claims.
Revenue is recognized to the extent that it is probable
a significant reversal will not occur. Invoice are usually
payable within the mutually agreed credit period
depending on individual customer terms.

Revenue from services is recognised in the accounting
period in which the services are rendered.

ii) Export incentives

Export incentives are recognized when the right
to receive credit as per the terms of the scheme is
established in respect of the exports made and when
there is no significant uncertainty regarding the
ultimate collection of the relevant export proceeds.

Determination of transaction price and allocation
to performance obligations

Revenue is measured based on the transaction price,
which is the consideration, adjusted for stockist
incentives, discount schemes and claims if any, as
specified in the contract with the customer. Revenue
also excludes taxes collected from customers.

Refer note 22 for reconciliation of revenue recognised
with contracted price.

K. Leases

The Company assesses whether a contract contains
a lease, at inception of a contract. A contract is, or
contains, a lease if the contract conveys the right to
control the use of an identified asset for a period of
time in exchange for consideration. To assess whether
a contract conveys the right to control the use of an
identified asset, the Company assesses whether: (1)
the contract involves the use of an identified asset (2)

the Company has substantially all of the economic
benefits from use of the asset through the period of
the lease and (3) the Company has the right to direct
the use of the asset.

At the date of commencement of the lease, the
Company recognizes a right-of-use asset (“ROU”)
and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases
with a term of twelve months or less (short-term
leases) and low value leases. For these short-term and
low value leases, the Company recognizes the lease
payments as an operating expense on a straight-line
basis over the term of the lease.

Certain lease arrangements includes the options to
extend or terminate the lease before the end of the
lease term. ROU assets and lease liabilities includes
these options when it is reasonably certain that they
will be exercised.

The right-of-use assets are initially recognized at cost,
which comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the
commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and
impairment losses.

Right-of-use assets are depreciated from the
commencement date on a straight-line basis over
the shorter of the lease term and useful life of the
underlying asset. Right of use assets are evaluated
for recoverability whenever events or changes in
circumstances indicate that their carrying amounts
may not be recoverable. For the purpose of impairment
testing, the recoverable amount(i.e. The higher of
the fair value less cost to sell and the value-in-use)
is determined on an individual asset basis unless the
asset does not generate cashflows that are largely
independent of those from other assets. In such cases,
the recoverable amount is determined for the Cash
Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized
cost at the present value of the future lease payments.
The lease payments are discounted using the interest
rate implicit in the lease or, if not readily determinable,
using the incremental borrowing rates in the country
of domicile of the leases. Lease liabilities are
remeasured with a corresponding adjustment to the
related right of use asset if the Company changes its

assessment if whether it will exercise an extension or
a termination option.

The Company determines its incremental borrowing
rate by obtaining interest rates from various external
financing sources and makes certain adjustments
to reflect the terms of the lease and type of the
asset leased.

Lease payments included in the measurement of the
lease liability comprise the following:

• fixed payments, including in-substance
fixed payments;

• variable lease payments that depend on an index or
a rate, initially measured using the index or rate as
at the commencement date;

• amounts expected to be payable under a residual
value guarantee; and

• the exercise price under a purchase option that
the Company is reasonably certain to exercise,
lease payments in an optional renewal period if
the Company is reasonably certain to exercise an
extension option, and penalties for early termination
of a lease unless the Company is reasonably certain
not to terminate early.

The lease liability is measured at amortised cost using
the effective interest method. It is remeasured when
there is a change in future lease payments arising from
a change in an index or rate, if there is a change in
the Company's estimate of the amount expected to
be payable under a residual value guarantee, if the
Company changes its assessment of whether it will
exercise a purchase, extension or termination option or
if there is a revised in-substance fixed lease payment.

The Company presents right-of-use assets that do not
meet the definition of investment property in ‘property,
plant and equipment' and lease liabilities separately in
the balance sheet within ‘Financial Liabilities'.

Lease liability and right-of-use asset have been
separately presented in the Balance Sheet and lease
payments have been classified as financing cash flows.

L. Recognition of interest income or expense

Interest income or expense is recognised using the
effective interest method.

The ‘effective interest rate' is the rate that exactly
discounts estimated future cash payments or receipts
through the expected life of the financial instrument to:

- the gross carrying amount of the financial asset; or

- the amortised cost of the financial liability.

In calculating interest income and expense, the
effective interest rate is applied to the gross carrying
amount of the asset (when the asset is not credit-
impaired) or to the amortised cost of the liability.

However, for financial assets that have become credit-
impaired subsequent to initial recognition, interest
income is calculated by applying the effective interest
rate to the amortised cost of the financial asset. If the
asset is no longer credit-impaired, then the calculation
of interest income reverts to the gross basis.

M. Income tax

Income tax comprises current and deferred tax. It is
recognised in statement of profit and loss except to
the extent that it relates to a business combination
or to an item recognised directly in equity or in other
comprehensive income.

i) Current tax

Current tax comprises the expected tax payable or
receivable on the taxable income or loss for the year
and any adjustment to the tax payable or receivable in
respect of previous years. The amount of current tax
reflects the best estimate of the tax amount expected
to be paid or received after considering the uncertainty,
if any, related to income taxes. It is measured using tax
rates (and tax laws) enacted or substantively enacted
by the reporting date.

Current tax assets and current tax liabilities are
offset only if there is a legally enforceable right to
set off the recognised amounts, and it is intended to
realise the asset and settle the liability on a net basis
or simultaneously.

ii) Deferred tax

Deferred tax is recognised in respect of temporary
differences between the carrying amounts of assets
and liabilities for financial reporting purposes and the
corresponding amounts used for taxation purposes.
Deferred tax is also recognised in respect of carried
forward tax losses and tax credits.

Deferred tax is not recognised for:

(a) temporary differences on the initial recognition of
assets or liabilities in a transaction that:

- is not a business combination; and

- at the time of the transaction

(i) affects neither accounting nor taxable profit
or loss and

(ii) does not give rise to equal taxable and
deductible temporary differences

(b) temporary differences related to investments in
subsidiaries, associates and joint arrangements
to the extent that the Company is able to control
the timing of the reversal of the temporary
differences and it is probable that they will not
reverse in the foreseeable future; and

(c) taxable temporary differences arising on the
initial recognition of goodwill.

Deferred tax assets are recognised for unused tax
losses, unused tax credits and deductible temporary
differences to the extent that it is probable that future
taxable profits will be available against which they
can be used. Future taxable profits are determined
based on the reversal of relevant taxable temporary
differences. If the amount of taxable temporary
differences is insufficient to recognise a deferred tax
asset in full, then future taxable profits, adjusted
for reversals of existing temporary differences, are
considered, based on the business plans for individual
subsidiaries in the Company. Deferred tax assets are
reviewed at each reporting date and are reduced
to the extent that it is no longer probable that the
related tax benefit will be realised; such reductions
are reversed when the probability of future taxable
profits improves.

Deferred tax is measured at the tax rates that are
expected to apply to the period when the asset is
realised or the liability is settled, based on the laws
that have been enacted or substantively enacted by
the reporting date. The measurement of deferred
tax reflects the tax consequences that would follow
from the manner in which the Company expects, at
the reporting date, to recover or settle the carrying
amount of its assets and liabilities. For this purpose,
the carrying amount of investment property is
presumed to be recovered through sale.

Deferred tax assets and Liabilities are offset if there is a
legally enforceable right to offset current tax Liabilities
and assets, and they relate to income taxes levied by
the same tax authority on the same taxable entity, or on
different tax entities, but they intend to settle current
tax liabilities and assets on a net basis or their tax
assets and Liabilities will be realised simultaneously.

N. Operating segment

Operating segments are reported in a manner
consistent with the internal reporting provided to
the Chief Operating Decision Maker (CODM) of the
Company. The CODM is responsible for allocating
resources and assessing performance of the operating
segments of the Company. For the disclosure on
reportable segments see note 36.

O. Cash and cash equivalents

Cash and Cash equivalents for the purpose of Cash
Flow Statement comprise cash and cheques in hand,
bank balances, demand deposits with banks where
the original maturity is three months or less and other
short term highly liquid investments.

P. Earnings per share
Basic Earnings Per Share

Basic earnings per share is calculated by dividing
the profit (or loss) attributable to the owners of the
Company by the weighted average number of equity
shares outstanding during the year. The weighted
average number of equity shares outstanding during
the year is adjusted for bonus issue, bonus element in
a rights issue to existing shareholders, share split and
reverse share split (consolidation of shares).

Diluted Earnings Per Share

Diluted earnings per share is computed by dividing the
profit (considered in determination of basic earnings
per share) after considering the effect of interest and
other financing costs or income (net of attributable
taxes) associated with dilutive potential equity shares

by the weighted average number of equity shares
considered for deriving basic earnings per share
adjusted for the weighted average number of equity
shares that would have been issued upon conversion
of all dilutive potential equity shares.

Q. Current/ Non-current classification

Non-current assets are classified as held for sale if
their carrying amount is intended to be recovered
principally through a sale (rather than through
continuing use) when the asset (or disposal group) is
available for immediate sale in its present condition
subject only to terms that are usual and customary
for sale of such asset (or disposal group) and the
sale is highly probable and is expected to qualify for
recognition as a completed sale within one year from
the date of classification.

Non-current assets classified as held for sale are
measured at lower of their carrying amount and fair
value less costs to sell.

R. Contingent liability

Contingent liability is a possible obligation arising from
past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the
control of the entity or a present obligation that arises
from past events but is not recognized because it is
not probable that an outflow of resources embodying
economic benefits will be required to settle the
obligation or the amount of the obligation cannot be
measured with sufficient reliability. The Company
does not recognize a contingent liability but discloses
its existence in the financial statements.

S. 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 notified Ind AS - 117 Insurance
Contracts and amendments to Ind AS 116 - Leases,
relating to sale and leaseback transactions, applicable
to the Company w.e.f. April 1, 2024. 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.

30 Share based payments

See accounting policy in Note 3(H)

During the financial year 2020-21, Amrutanjan's Board of Directors had approved the Amrutanjan Health Care Limited
Employee Stock Option Scheme (' Scheme 2020') for the grant of stock options to the selected employees of the
company. The Compensation Committee administers the plan through a trust established specifically for this purpose,
called Amrutanjan Health Care Limited ESOP trust ('ESOP trust'). Further, based on the recommendation of the
Compensation Committee, the Board of Directors of the Company has approved further grants under the scheme
mentioned above, at its meeting held on May 23, 2024.

The ESOP Trust shall make additional purchase of equity shares of the Company using the proceeds from the loan
obtained from the Company, other cash inflows from transfer of shares to employees under the ESOP Plan and
shall subscribe, when allotted to such number of shares as is necessary for transferring to the employees. The
Compensation Committee shall determine the exercise price which will not be less than the face value of the shares.

The trust had purchased Nil shares (March 31, 2024: Nil shares) from the market at an average rate of 'Nil (March
31, 2024: 'Nil) per share amounting to 'Nil (March 31, 2024: 'Nil) and has sold / transferred 6,591 shares (March
31, 2024: 33,114 shares) amounting to '55.70 (March 31, 2024: '283.96) at an average rate of '845.13/- per share
(March 31, 2024: '857.52/- per share) respectively. The options vested during the current year has been transferred
to the employees' account. The value of the shares in the Company held by the ESOP Trust has been disclosed as
Treasury Shares in the statement of changes in equity. The assets and liabilities of the trust is accounted for as assets
and liabilities of the entity on the basis that the trust is exclusively set up for the purpose of administering the ESOP
plan of the Company.

The Company has not disclosed fair values of financial instruments such as trade receivables, cash and cash
equivalents, bank balances other than cash and cash equivalents, other financial assets, trade payables, lease
liabilities and other financial liabilities, since their carrying amounts are reasonable approximates of fair values.

B. Measurement of fair values
Fair value hierarchy

Level I - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level II - Inputs other than quoted prices included within Level I that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e.derived from prices).

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

Investments

The Company limits its exposure to credit risk by investing in debt securities and minimum investment
being made in equity instruments. The credit worthiness of the counterparties of the investments made are
evaluated by the management on an ongoing basis and is considered to be good with low credit risk.

Trade receivables

The Company has developed guidelines for the management of credit risk from trade receivables. The
Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer
operates, also has an influence on credit risk assessment.

Credit risk is managed through credit approvals, establishing credit limits and monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business. The Company
establishes an allowance for doubtful debts that represents its estimate of incurred losses in respect of the
Company's trade receivables.

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to
determine incurred and expected credit losses.

C. Financial risk management

The Company's business activities are exposed to a variety of financial risks, namely credit risk, liquidity risk
and market risk. The Company's management has the overall responsibility for establishing and governing the
Company's risk management framework. The Company's risk management policies are established to identify
and analyse the risks faced by the Company, to set and monitor appropriate risk limits and controls, periodically
review the changes in market conditions and reflect the changes in the policy accordingly. The key risks and
mitigating actions are also placed before the audit committee of the Company.

i. Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument
fails to meet its contractual obligations, and arises principally from Company's trade receivables and other
financial assets.

Other financial assets

Other financial assets comprises of deposits with bank and financial institutions and interest accrued on such
deposits These deposits are held with credit worthy banks and financial institutions. The credit worthiness of
such banks and financial institutions are evaluated by the management on an ongoing basis and is considered
to be good with low credit risk.

Other financial assets also comprise of export benefits receivable and rental deposits given to lessors and
Electricity deposit given to Electricity Board. The Company is confident of collection the amounts and is
considered to good with low credit risk. The Company does not expect any losses from non-performance
by these counter parties.

ii. Liquidity risks

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with
its financial liabilities. The Company approach to managing liquidity is to ensure that it will have sufficient
funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management
considers both normal and stressed conditions.

Cash flow from operating activities provides the funds to service and finance the financial liabilities on a
day-to-day basis.

The Company regularly monitors the rolling forecasts to ensure that it has sufficient cash on an on-going
basis to meet operational needs. Any short term surplus cash generated, over and above the amount
required for working capital management and other operational requirements, is retained as cash and cash
equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other
highly marketable debt investments with appropriate maturities to optimise the cash returns on investments
while ensuring sufficient liquidity to meet its liabilities.

iii. Market risks

Market risk is the risk of loss of future earnings or fair values or future cash flows that may result from a
change in the price of a financial instrument. The value of a financial instrument may change as a result
of changes in the interest rates, foreign exchange rates and other market changes that affect market risk
sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including
foreign currency receivables and payables. The Company is exposed to market risk primarily related to
foreign exchange rate risk (currency risk).

iv. Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in
which sales, purchase are denominated and the respective functional currencies of Company.

(i) Pending resolution of the respective proceedings, it is not practicable for the Company to estimate the timings of
cash outflows, if any, in respect of the above as it is determinable only on receipt of judgements/decisions pending
with various forums/authorities. The Company has reviewed all its pending litigations and proceedings and has
adequately provided for where provisions are required and disclosed as contingent liabilities where applicable,
in its financial statements. The Company does not expect the outcome of these proceedings to have a materially
adverse effect on its financial position.

(ii) Lease rent in respect of lease hold land has been revised by Government of Tamil Nadu with retrospective effect
from November, 2001. The Company has contested the said revision before the Madras High court in writ petition.

(iii) During the earlier year, the Company had paid an amount of '11 to the Commissioner, Panchayat Union Thiruporur
and during the prior years, the Company had paid an amount of '14.6 to Mamalapuram Urban Housing as
contribution towards Tamil Nadu State Shelter Fund and an amount of '19.60 towards obtaining DTCP
(Department of Town and Country Planning) approval for one of its Factories located in Alathur, Chennai, based
on demand from the department. With respect to the above, the amounts payable towards property tax and other
fees, are yet to be ascertained by the relevant authorities and the final assessment order is yet to be received
by the Company. The Company could not ascertain reasonably the further amount payable and hence has been
disclosed as contingent liability.

(iv) In light of recent judgment of Honourable Supreme Court dated February 28, 2019 on the definition of “Basic
Wages” under the Employees Provident Funds & Miscellaneous Provisions Act 1952, there are significant
uncertainties in determining the liability including, period of assessment, application of present and past
employees and assessment of interest and penalties. Considering these interpretive challenges, the amount
of the obligation could not be measured with sufficient reliability for past periods and hence disclosed as a
contingent liability.

39 Other Statutory Information

a) The Company has not revalued its property, plant and equipment (including the right of use assets) and intangible assets.

b) No proceedings have been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

c) The Company does not have any borrowings from banks or financial institutions that are secured against current assets.

d) The Company has not been declared as a wilful defaulter by any bank or financial institution or other lenders.

e) Compliance with clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number
of Layers) Rules, 2017 with respect to layer of companies are not applicable to the Company.

f) The Company does not have any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956.

g) The Company do not have any charges or satisfaction which is yet to be registered with Registrar of companies beyond
the statutory period.

h) The Company has not entered into any scheme of arrangement as per sections 230 to 237 of the Companies Act, 2013.

i) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

j) The Company has not received, 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 directly or indirectly, lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Parties (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

k) 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.

l) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

m) The Company has a process whereby periodically all long term contracts (including derivative contracts) are assessed
for material foreseeable losses. At the year end, the Company has reviewed and there are no long term contracts for which
there are any material foreseeable losses.

40 Subsequent events

The Company has evaluated subsequent events from the balance sheet date through May 15, 2025, the date on which
the financial statements were authorised by the Board of Directors of the Company and determined that there are no
items to disclose.

As per our report of even date attached

for B S R & Co. LLP for and on behalf of the Board of Directors of

Chartered Accountants Amrutanjan Health Care Limited

Firm's Registration Number : 101248W/W-100022 CIN : L24231TN1936PLC000017

R Kalyana Sundara Rajan S Sambhu Prasad Raja Venkataraman

Partner Chairman and Managing Director Director

Membership no: 221822 DIN: 00015729 DIN: 00669376

N Swaminathan M Srinivasan

Chief Financial Officer Company Secretary

PAN: BMVPS9607P Membership no. A10980

Place: Chennai Place: Chennai

Date: May 15, 2025 Date: May 15, 2025