10 Provisions and Contingent Liabilities:

A provision is recognised if, as a result of past event, the Company has a present legal obligation that can be
estimated reliably and it is probable that an outflow of economic benefit will be required to settle the obligation.
Provisions are determined by the best estimate of outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability. A
disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that
may, but probably will not, require an outflow of resources. Where there is possible obligation or present obligation
in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

11 Earnings Per Share:

Basic Earnings per share is computed by dividing the net profit after tax by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share is computed by dividing the net profit
after tax by the weighted average number of shares considered for deriving basic earnings per share and also the
weighted average number of equity shares that could have been issued upon conversion of all dilutive potential
equity shares. The diluted potential equity shares are adjusted for the proceeds receivable had the shares been
actually issued at fair value which is the average market value of the outstanding shares. Dilutive potential equity
shares are deemed converted as at the beginning of the period, unless issued at a later date. Dilutive potential
equity shares are determined independently for each period presented.

12 Cash and Cash Equivalents:

Cash and cash equivalents comprise cash on hand and Cheque in hand, balance with bank, demand deposits
with banks and other short term highly liquid investments that are readily convertible to known amounts of cash
& which are subject to an insignificant risk of changes in value where it has a short maturity of three months or
less from the date of acquisition.

13 Cash Flow Statement:

Cash flows are reported using indirect method, whereby net profit/loss before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments
and item of income or expenses associated with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Company are segregated.

The Company’s cash and cash equivalents consist of cash on hand and in banks and demand deposits with
banks, which can be withdrawn at any time, without prior notice or penalty on the principal. For the purposes of
the statement of cash flows, cash and cash equivalents include cash on hand, in banks and demand deposits
with banks, net of outstanding bank overdrafts that are repayable on demand and are considered part of the
Company’s cash management system. In the balance sheet, bank overdrafts are presented under borrowings
within current liabilities.

14 Investments:

Investments, which are readily realizable and intended to be held for not more than one year from the date on
which such investments are made, are classified as current investments. All other investments are classified as
long-term investments.

4 In the opinion of the Board, the company has used borrowings from banks and financial institution only for the
specific purpose for which it was taken at the balance sheet date.

5 In the opinion of the Board, all of the assets other than Property, Plant and Equipment and noncurrent investments
have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

6 Details of Benami Property held:

There are no proceedings initiated or pending against the Company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

7 The Company has borrowings from banks or financial institutions on the basis of security of current assets, the
following are the details of statements submitted to bank:

10 Registration of charges or satisfaction with Registrar of Companies:

The Company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the
statutory period.

11 Compliance with number of layers of companies:

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.

12 Compliance with approved Scheme(s) of Arrangements:

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 reporting period.

13 Utilisation of Borrowed funds and share premium:

A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) 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.

B. Where a company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) 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.

23 The amount remitted during the year in foreign currencies on account of dividends with a specific mention of the total
number of non-resident shareholders, the total number of shares held by them on which the dividends were due and
the year to which the dividends related;-NIL

24 Undisclosed income:

There are no transactions that were not recorded in the books of account, and which has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

There is no previously unrecorded income and related assets that have been recorded in the books of account during
the year.

25 Details of Crypto Currency or Virtual Currency:

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

26 Dues to Micro, Small and Medium Enterprises:

The principal amount remaining unpaid to the supplier regsitered under Micro, Small and Medium Enterprises
Development Act, 2006 that are outstanding of Rs. 0.99 cr for more than 45 days as at the end of reporting date.

Notes to be disclosed

1. Terms and conditions of sales and purchases: the sales and purchases transactions among the related
parties are in the ordinary course of business based on normal commercial terms, conditions, market rates
and memorandum of understanding signed with the related parties. For the year ended 31^st March, 2025, the
Company has not recorded any loss allowances for transactions between the related parties.

2. As the future liabilities for gratuity and leave encashment is provided on an actuarial basis and payment
of insurance costs are made for the Company as a whole, the amount pertaining to the key management
personnel is not ascertainable, therefore, not included above.

16 Employee Benefit (Incurred in India):

A. Provident Fund - The Company has contributed Rs.0.77 cr for the year ended 2025 and Rs.1.02 cr for the
year ended 2024 towards the Employees Provident Fund.

B. Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected
Unit Credit Method. This method considers each period of service as giving rise to an additional unit of
benefit entitlement and measures each unit separately to build up the final obligation.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation
of the actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of the benefits from the Plan’s benefit formula attributable
to the services rendered by employees during the accounting period.

Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial
assumptions. It could also occur due to changes made in the actuarial assumptions.

Mortality rate during employment Indian -Indian Assured Lives Mortality (2012-14) Ultimate

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation,
seniority, promotion and other relevant factors including supply and demand in the employment market. The
above information is certified by the actuary.

The company is only making book provisions for the entire Gratuity Liability on the valuation and follows a ‘pay
as you go’ system to meet the liabilities as and when they fall due. Therefore the scheme is fully unfunded, and
no assets are maintained by the company and asset values are taken as zero.

31 Cashflow Statement:

(1) The Company has no significant amount of cash and cash equivalent balances held that are not readily
available for use.

(2) The Company does not have undrawn borrowing facilities that may be available for future operating
activities.

(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.

(4) The Company is investing adequately in the maintenance of its operating capacity.

(5) There are no non cash transactions happened in investing and financing activities to be excluded from
Cash Flow Statement.

32 Disclosures on Property, plant and equipment and Intangible Assets:

I. Property, plant and equipment

1) The Company do have any restrictions on title, and property, plant and equipment pledged as security for
liabilities.

2) There is no amount of expenditure recognised in the carrying amount of an item of property, plant and
equipment in the course of its construction.

3) There is no contractual commitments for the acquisition of property, plant and equipment.

4) There is no amount of compensation from third parties for items of property, plant and equipment that
were impaired, lost or given up that is included in the statement of profit and loss.

5) The Company has no assets that are retired from active use and held for disposal

6) There is no temporarily idle property, plant and equipment at the reporting date.

7) The Company has no fully depreciated property, plant and equipment that is still in use.

8) The Company has not revalued any class of property, plant and equipment during the financial year.

9) The Company has no property, plant and equipment retired from active use and not held for disposal.

II. Intangible asset

1) The carrying amount and remaining amortization period of any individual intangible asset that is material
to the financial statements of the enterprise as a whole-Nil

2) The Company do not have any restrictions on title, and intangible assets pledged as security for liabilities.

3) There is no contractual commitments for the acquisition of intangible assets.

4) The Company has no fully amortised intangible asset that is still in use.

5) There is no acquisitions of intangible assets through business combinations.

33 Investments:

I. Profits and losses with regard to investments have been disclosed as under:

a) profits and losses on disposal of current investments -Not Applicable

36 Previous year's figures have been regrouped / reclassified wherever necessary to conform with current year's
classification.

As per our report of even date attached For and on behalf of the Board of Directors of

For L.U.KRISHNAN & CO BASILIC FLY STUDIO LIMITED

Chartered Accountants
Firm’s Registration.No: 001527S

P K Manoj Swati Sharma Gaurav Mehra Sundaram Yogalakshmi Balakrishnan

Partner Company Secretary Chief Financial Officer Wholetime Director Managing Director

Membership Number: 207550 Mem No: A54158 DIN: 07323404 DIN: 06590484

UDIN: 25207550BMJDIJ9491

Place: Chennai Place: Chennai

Date: 30^th May, 2025 Date: 30^th May 2025