k) Provisions and contingent liabilities
Provisions are recognized when the Company has a present legal or constructive obligation as a result
of past events, it is probable that an outflow of resources will be required to settle the obligation
and the amount can be reliably estimated. Provisions are not recognized for future operating losses.
Provisions are measured at the present value of management's best estimate of the expenditure
required to settle the present obligation at the end of the reporting period. The discount rate used
to determine the present value is a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the liability. The increase in the provision due to the passage
of time is recognized as interest expense.
Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but
their existence will be confirmed by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company or where any present obligation cannot
be measured in terms of future outflow of resources or where a reliable estimate of the obligation
cannot be made. The Company does not recognize a contingent liability but discloses its existence
in the financial statements.
l) Revenue recognition
The Company recognizes revenue when the amount of revenue can be reliably measured, it is
probable that future economic benefits will flow to the Company and specific criteria have been met
for each of the Company's activities as described below
Sale of goods
Revenue from sale of goods is recognized when control of the products being sold is transferred
to our customers and there are no longer any unfulfilled obligations. The performance obligations
in our contracts are fulfilled at the time of dispatch, delivery or upon formal customer acceptance
depending on customer terms.
Recognition of Revenue from rendering of services
For fixed price contracts, revenue is recognized based on the actual service provided to the end of
the reporting period as a proportion of the total services to be provided. This is determined based
on the actual costs incurred to the total estimated cost to complete the performance obligation in
context of the contract.
Estimates of revenues, costs or extent of progress towards completion are revised if circumstances
change. Any resulting increase or decrease in estimated revenues or costs are reflected in profit or loss
in the period in which the circumstances that give rise to the revision become known by management.
Revenue is measured based on the consideration specified in a contract with a customer and excludes
amounts collected on behalf of third parties. The Company recognizes revenue when it transfers
control over a product or a service to a customer and company expects to receive consideration in
exchange for those products or services. The method for recognizing revenues and costs depends
on the nature of the services rendered. The Company assesses the timing of revenue recognition in
case of each distinct performance obligation.
Revenue from the sale of user licenses for software applications is recognized at point in time on
transfer of the title in the user license. Revenue is recognized on principal basis if the company
controls a promised good or service before the entity transfers the good or service to a customer.
In case of software development contract having multiple stages or benchmark of the completion,
the revenue is recognized on percentage of completion method.
Revenue from other support services arising out of sale of software products are recognized when
the services are performed.
Incentives
Incentives under various schemes are accounted in the year in which right to receive is irrevocably
established.
Other Revenue
Interest income is recognized on a time proportion basis taking into account the amount outstanding
and the applicable rate of interest.
Interest received on delayed payment is accounted on receipt basis.
Revenue in respect of insurance/other claims etc., is recognized only when it is reasonably certain
that the ultimate collection will be made.
Dividends are generally recognized in the Statement of Profit and Loss only when the right to receive
payment is established.
m) Employee benefits
Short-term 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 recognized 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.
Other long-term employee benefit obligations
The liabilities for earned leave and sick leave that are not expected to be settled wholly within 12
months are 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.
Post-employment obligations
The Company operates the following post-employment schemes:
(a) defined benefit plans such as gratuity; and
(b) defined contribution plans such as provident fund, employee state insurance scheme.
Defined Benefit Plan - Gratuity
The liability or asset recognized in the balance sheet in respect of defined benefit gratuity plan is the
present value of the defined benefit obligation at the end of the reporting period less the fair value
of plan assets. The defined benefit obligation is calculated annually by actuaries using the projected
unit credit method.
The present value of the defined benefit obligation is determined by discounting the estimated
future cash outflows by reference to market yields at the end of the reporting period on government
bonds that have terms approximating to the terms of the related obligation.
The net interest cost is calculated by applying the discount rate to the net balance of the defined
benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense
in the Statement of Profit and Loss.
Remeasurement gains and losses arising from experience adjustments and changes in actuarial
assumptions are recognized in the period in which they occur, directly in other comprehensive income.
They are included in retained earnings in the statement of changes in equity and in the balance sheet.
Defined Contribution Plans
The Company pays provident fund, employee state insurance for all employees 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 when they are due.
Termination benefits
Termination benefits are payable when employment is terminated by the Company before the normal
retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits.
The Company recognises termination benefits at the earlier of the following dates: (a) when the
Company can no longer withdraw the offer of those benefits; and (b) when the Company recognises
costs for a restructuring that is within the scope of Ind AS 37 and involves the payment of terminations
benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits
are measured based on the number of employees expected to accept the offer. Benefits falling due
more than 12 months after the end of the reporting period are discounted to present value.
Share- Based Payments
Share Based Compensation benefits are provided to the employees of the company via ESOP
2018 & ESOP 2024.
Employees of the Company receive remuneration in the form of share-based payments in
consideration of the services rendered. Under the equity settled share based payment, the fair value
on the grant date of the awards given to employees is recognized as 'employee benefit expenses'
with a corresponding increase in equity over the vesting period. The fair value of the options at the
grant date is calculated by an independent valuer on the basis of Black Scholes model. At the end
of each reporting period, apart from the non-market vesting condition, the expense is reviewed
and adjusted to reflect the changes to the level of options expected to vest. When the options are
exercised, the Company issues fresh equity shares.
n) Foreign Currency Transactions:
(i) Transactions and balances
Transactions in foreign currencies are recognized at the prevailing exchange rates on the
transaction dates. Realized gains and losses on settlement of foreign currency transactions are
recognized in the Statement of Profit and Loss.
Monetary foreign currency assets and liabilities at the year-end are translated at the year-end
exchange rates and the resultant exchange differences are recognized in the Statement of
Profit and Loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency are
translated using the exchange rates at the dates of the initial transactions.
o) Leases
As a Lessee
At inception of a contract, the Company assesses whether a contract is, or contains, a lease. 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.
The Company recognizes a Right-of-Use (ROU) asset and a lease liability at the lease commencement
date. The ROU asset is initially measured at cost, which comprises the initial amount of the lease
liability adjusted for any lease payment made at or before the commencement date, plus any initial
direct cost incurred and an estimate of costs to dismantle and remove the underlying asset or to
restore the underlying asset or the site on which it is located, less any lease incentive received.
The ROU asset is subsequently depreciated using the straight-line method from the commencement
date to the earlier of the end of the useful life of the ROU asset or the end of the lease term. The
estimated useful lives of ROU assets are determined on the same basis as those of Property, Plant
and Equipment. In addition, the ROU asset is periodically reduced by impairment losses, if any, and
adjusted for certain re measurements of the lease liability.
The lease liability is initially measured at the present value of the lease payments that are not paid at
the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot
be readily determined, and the Company's incremental borrowing rate. Generally, the Company uses
its incremental borrowing rate as the discount rate.
Short-term leases and leases of low-value assets
The Company has elected not to recognize right-to-use assets and lease liabilities for short-term
lease that have a lease term of 12 months or less and leases of low-value assets. The Company
recognize the lease payments associated with these leases as an expenses on a straight-line basis
over the lease term.
p) Income taxes
Income tax expense represents the sum of tax currently payable and deferred tax. Tax is recognized
in the Statement of Profit and Loss, except to the extent that it relates to items recognized directly in
equity or in other comprehensive income.
i. Current Tax
Current tax includes provision for Income Tax computed under provisions of Income Tax Act. Tax
on Income for the current period is determined on the basis on estimated taxable income and
tax credits computed in accordance with the provisions of the relevant tax laws and based on the
expected outcome of assessments/appeals.
ii. Deferred Tax
Deferred tax is recognised on temporary differences between the carrying amounts of assets and
liabilities in the balance sheet and the corresponding tax bases used in the computation of taxable
profit. Deferred tax liabilities are generally recognised for all taxable temporary differences.
Deferred tax assets are generally recognised for all deductible temporary differences, unabsorbed
losses and unabsorbed depreciation to the extent that it is probable that future taxable profits
will be available against which those deductible temporary differences, unabsorbed losses and
unabsorbed depreciation can be utilised.
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced
to the extent that it is no longer probable that sufficient taxable profits will be available to allow
all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in
the period in which the liability is settled or the asset realised, based on tax rates (and tax laws)
that have been enacted or substantively enacted by the balance sheet date. The measurement
of deferred tax liabilities and assets 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.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off
current tax assets against current tax liabilities and when they relate to income taxes levied
by the same taxation authority and the Company intends to settle its current tax assets and
liabilities on a net basis.
q) Earnings Per Share
Basic earnings per share
Basic earnings per share is calculated by dividing:
• the profit attributable to owners of the Company
• weighted average number of equity shares outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year and excluding treasury shares.
Diluted earnings per share
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share
to take into account:
• the after income tax effect of interest and other financing costs associated with dilutive potential
equity shares, and
• The weighted average number of additional equity shares that would have been outstanding
assuming the conversion of all dilutive potential equity shares.
r) Cash Flow Statement
The Cash Flow statement is prepared by the "Indirect method" set out in Ind AS-7 on "Cash Flow
Statement" and presents the cash flows by operating, investing and financing activities of the
Company. Cash and cash Equivalent presented in the cash flow statement consist of cash on hand
and demand deposits with banks.
The amendment to Ind AS 7 requires the entities to provide disclosures that enable users of Financial
Statements to evaluate changes in Liabilities arising from financing activities, inducing both changes
arising from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the
opening and closing balances in the Balance Sheet for liabilities arising from financing activities, to
meet the disclosure requirement.
s) Impairment of Non-Financial Assets:
The Company assesses at each reporting date whether there is an indication that a non-financial
asset may be impaired based on internal/external factors. An asset is treated as impaired when the
carrying cost of asset exceeds its recoverable Value. An impairment loss is charged to the statement of
Profit and Loss in the year in which an asset is identified as impaired. The impairment loss recognized
in earlier accounting period is reversed if there has been a change in the estimate of recoverable
amount. After impairment, depreciation is provided on the revised carrying amount of the asset over
its remaining useful life.
t) Cash dividend
The Company recognizes a liability to make cash distributions to equity holders of the Company when
the distribution is authorized, and the distribution is no longer at the discretion of the Company. Final
dividend on shares is recorded as a liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by the Company's Board of Directors.
u) Exceptional items:
Exceptional items are disclosed separately in the financial statements where it is necessary to do so
to provide further understanding of the financial performance of the Company. These are material
items of income or expense that have to be shown separately due to their nature or incidence.
v) Events occurring after the balance sheet date:
Assets and liabilities are adjusted for events occurring after the reporting period that provides
additional evidence to assist the estimation of amounts relating to conditions existing at the end of
the reporting period.
Dividends declared by the Company after the reporting period are not recognized as liability at
the end of the reporting period. Dividends declared after the reporting period but before the issue
of financial statements are not recognized as liability since no obligation exists at that time. Such
dividends are disclosed in the notes to the financial statements.
[C] RECENT ACCOUNTING PRONOUNCEMENTS ISSUED BUT NOT YET EFFECTIVE
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. During 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 lease back transactions, applicable from April 1, 2024. The Company has
assessed that there is no significant impact on its financial statements,
On May 9, 2025, MCA notifies the amendments to Ind AS 21 Effects of Changes in Foreign Exchange
Rates. These amendments aim to provide clearer guidance on assessing currency exchangeability and
estimating exchange rates when currencies are not readily exchangeable. The amendments are effective
for annual periods beginning on or after April 1, 2025. The Company is currently assessing the probable
impact of these amendments on its financial statements.
Rights\Preference\Restrictions attached to Equity Shares
14.2 The Company has issued only one class of equity shares having a par value of ' 5 per share. Each Holder
of Equity Shares are entitled to one vote per share. The Company declares and pays dividend in Indian
rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders
at the Annual General Meeting, except in case of interim dividend. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive the realised value of the assets of the
Company, remaining after the payment of all preferential dues. The distribution will be in proportion to
the number of equity shares held by the shareholders.
14.3 The Board of Directors of the Company at their meeting held on November 25, 2024 have approved
the sub-division of each equity share having a face value of Rupees 5(five) each, fully paid-up, into
equity shares having a face value of Rupees 2(two) each. On December 20, 2024 the approval of the
shareholders of the Company was obtained at the Extra Ordinary General Meeting through a ballot
paper and electronic voting means with a requisite majority. The record date for the sub-division of
shares shall be announced in the due course of time after requisite approvals from competent authorities.
14.5 The Company had issued 55, 20,500 shares as a bonus issue to its shareholders in Financial Year 2021-22.
The bonus issue is for Eq. Shares of Face Value of ' 10 each in the Ratio of 1:1 i.e. 1 Bonus equity share for
every 1 eq. share held by shareholder's as on the record date.
14.6 Equity shares rank pari pasu & subject to right, preference and restrictions under the Companies Act.
14.7 There are no unpaid calls from Directors or officers.
14.8 The Board of Directors of the Company at their meeting held on November 25, 2024 have approved the
sub-division of each equity share having a face value of Rupees 5(five) each, fully paid-up, into equity
shares having a face value of Rupees 2(two) each.
On December 20, 2024 the approval of the shareholders of the Company was obtained at the Extra
Ordinary General Meeting through a ballot paper and electronic voting means with a requisite majority.
The record date for the sub-division of shares shall be announced in the due course of time after requisite
approvals from competent authorities.
14.9 The Board of Directors recommended the final Dividend @5% (i.e. ' 0.25/- per equity shares) on equity
shares of ' 5/- each, for the year ended March 31, 2025 subject to the approval of shareholders of the
company in the ensuing Annual General Meeting.
Securities Premium:
The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve.
The reserve is utilised in accordance with the specific provisions of the Companies Act, 2013.
Retained Earnings:
Retained earnings are the profits that the Company has earned till date including effect of remeasurement
of defined benefit obligations less any transfers to general reserve, dividends or other distributions paid to
shareholders. Retained Earnings is a free reserve available to the Company.
Share-based Payment Reserve
The share-based payment reserve is used to recognize the value of equity-settled share-based payments
provided to the key employees and directors of the company under ESOP Plan 2018.
General Reserve
General Reserve is created from time to time by way of transfer of profits from retained earnings for
appropriation purposes. General reserve is created by transfer from one component of equity to another and
is not an item of other comprehensive income.
Notes :
i. Related party transactions reported are excluding GST for which the company is eligible for credit. However,
outstanding balances reported at the year end is inclusive of GST component whereever applicable.
ii. The above related party transactions have been reviewed periodically by the Board of Directors of the
Company vis-a-vis the applicable provisions of the Companies Act, 2013, and justification of the rates
being charged/ terms thereof and approved the same.
37. EQUITY SETTLED SHARE BASED PAYMENTS
The company instituted the ESOP 2018 plan for all eligible employees in pursuance of a special resolution
approved by the shareholders at the extraordinary general meeting held on April 18, 2018. Scheme
covers grant of options convertible into equial number of equity shares of face value of ' 5 each to
specified permanent employees of the company.
viii) Expected contribution to the defined benefit plan for the next reporting period - Nil
ix) Weighted Average Duration of the Defined Benefit Obligation - 7.68 years
39. FINANCIAL INSTRUMENTS - FAIR VALUES & RISK MANAGEMENT
Accounting Classifications & Fair Value Measurements
The fair values of the financial assets and liabilities are measured at the amount at which the instrument could
be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
All financial instruments are initially recognized and subsequently re-measured at fair value as
described below :
1. The fair value of investment in quoted equity shares and mutual funds is measured at quoted
price or NAV.
2. Fair values of cash and short term deposits, trade and other short term receivables, trade payables,
other current liabilities, short term loans from banks and other financial institutions approximate
their carrying amounts largely due to short-term maturities of these instruments.
3. Financial instruments with fixed and variable interest rates are evaluated by the Company based on
parameters such as interest rates and individual credit worthiness of the counterparty. Based on the
evaluation, allowances are taken to account for the expected losses of these receivables.
4. The fair value of forward foreign exchange contracts and currency swaps is determined using forward
exchange rates and yield curves at the balance sheet date.
40.1 FINANCIAL RISK MANAGEMENT
The company's Board of Directors has overall responsibility for the establishment and oversight of 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 appropriate risk limits and controls and to
monitor risks. Risk management policies and systems are reviewed regularly to reflect changes in market
conditions and the company's activities.
40.1.1 Credit Risk Management
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or
customer contract, leading to a financial loss. The carrying amount of following financial assets represents
the maximum credit exposure.
Trade Receivables
Trade receivables are non-interest bearing. To manage credit risk in respect of trade receivables, the
Company periodically assesses the financial reliability of customers, taking into account the financial
condition, current economic trends and ageing of accounts receivable. Individual risk limits are
set accordingly.
The requirement of impairment of trade receivable is analysed as each reporting date. Based on historic
default rates and overall credit worthiness of customers, management believes that no impairment
allowance is required in respect of outstanding trade receivables as on March 31, 2025.
Liquidity Risk is defined as the risk that the company will not be able to settle or meet its obligations on
time or at reasonable price. The company's treasury department is responsible for liquidity, funding as
well as settlement management. In addition, processes and policies related to such risks are overseen by
senior management. Management monitors the company's net liquidity position through rolling forecast
on the basis of expected cash flows.
40.1.3 Interest rate risk
Interest rate risk is the risk that fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. In order to optimize the company's position with regards
to the interest income and interest expenses and to manage the interest rate risk, treasury performs a
comprehensive corporate interest rate risk management by balancing the proportion of fixed rate and
floating rate financial instruments in it total portfolio.
With all other variables held constant, the following table demonstrates the impact of the borrowing cost
on floating rate portion of loans and borrowings and excluding loans on which interest rate swaps are taken.
40.1.4 Foreign currency risk
The company operates internationally and is exposed to currency risk on account of its receivables in
foreign currency. The functional currency of the company is Indian Rupee. The company uses forward
exchange contracts to hedge its currency risk primarily with USD, most with a maturity of less than one
year from the reporting date.
The Company does not have any significant investments in equity instruments which create an exposure
to price risk.
40.2 Market risk
Market risk is the risk of loss of future earnings, 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 currency exchange rates, equity prices and other market
changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive
financial instruments including investments and deposits, foreign currency receivables, payables and
loan borrowings.
The Company manages market risk through a treasury department, which evaluates and exercises
independent control over the entire process of market risk management. The treasury department
recommends risk management objectives and policies, which are approved by Senior Management
and the Audit Committee. The activities of this department include management of cash resources,
implementing hedging strategies for foreign currency exposures, borrowing strategies, and ensuring
compliance with market risk limits and policies.
41. CAPITAL MANAGEMENT
For the purposes of the Company's capital management, capital includes issued capital and all other
equity reserves. The primary objective of the Company's Capital Management is to maximise shareholder
value. The company manages its capital structure and makes adjustments in the light of changes in
economic environment and the requirement of the financial covenants.
The company monitors capital using gearing ratio, which is net debt divided by total equity plus debt.
50. (i) Pursuant to share purchase agreement Dt. December 15, 2023 the company has planned to acquire
100% stake in Dhyey Consulting Services Private Limited (Dhyey), as approved by the shareholders
through EGM held on January 09, 2024 for a total consideration of ' 900 lakhs to be paid partly in
cash and balance by issue of shares via preferential allotment. The said company is engaged in the
business of implementation and development of Microsoft Dynamics, CRM, AI and Power Platform.
(ii) The company had acquired 54.44% stake of Dhyey on February 21, 2024.
(iii) The company, paid ' 409.91 lakhs during the year to the shareholders of Dhyey for acquisition
of the balance 45.56% stake i.e. 4555 shares at a price of ' 8999.14 having face value of ' 10.
Pursuant to this acquisition, Dhyey has become a wholly owned subsidiary of the company with
effect from September 30, 2024.
51. The Company evaluates events and transactions that occur subsequent to the Balance Sheet date prior
to the approval of the financial statements to determine the necessity for recognition and/or reporting
of any of these events and transactions in the Financial Statements. The Board of Directors, in its meeting
held on May 29, 2025, has proposed a final dividend of ' 0.25 per equity share for the financial year ended
March 31, 2025. The proposal is subject to the approval of shareholders at the Annual General Meeting.
None of the subisdiary of the company has declared dividend for the financial year ended March 31, 2025.
52. The company does not hold any benami property as defined under the Benami Transactions (Prohibition)
Act, 1988 (45 of 1988) and the rules made thereunder. No proceeding has been initiated or pending
against the company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and the rules made thereunder.
53. The Company does not have any transactions with companies struck off.
54. The company does not have any charges or satisfaction, which is yet to be registered with ROC beyond
the statutory period.
55. The Company has not traded or invested in crypto currency or virtual currency during the financial year.
56. As on March 31, 2025, there is no unutilised amounts in respect of long term borrowings from banks and
the borrowed funds have been utilised for the specific purpose for which the funds were raised.
57. The Company does not have any such trasaction 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).
58. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) 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
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries."
59. The Company have 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:
(a) 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
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
60 EVENTS OCCURING AFTER REPORTING PERIOD
The Company evaluated subsequent events through May 29, 2025, the date financial statements
were available for issuance and determined that there were no additional material subsequent events
requiring disclosure.
61. The company has used accounting software for maintaining its books of accout which has a feature of
recording audit trail (edit log) facility and the same has been operated throughout the year for all relevant
transactions recorded in the software. Further, there are no instances of audit trail being tampered with.
Additionally, the audit trail of prior year(s) has been preserved by the Company as per the statutory
requirements for record retention to the extent it was enabled and recorded in the respective years.
62. Previous year's figures have been regrouped/re-arranged/recasted, wherever necessary, so as to make
them comparable with current year's figures.The management believes that such reclassification does not
have any material impact on the information presented in the financial statements.
As per our report of even date attached
For, Dev Information Technology Ltd.
For, Rinkesh Shah & Co Jaimin Shah Pranav Pandya
Chartered Accountants (DIN : 00021880) (DIN : 00021744)
Firm Regn. No. 129690W Managing Director Chairman
CA Rinkesh Shah Harshil Shah Krisa Shah
Partner Chief Financial Officer Company Secretary
Membership No. 131783
Date : May 29, 2025 Date : May 29, 2025
Place : Chicago Place : Ahmedabad
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