2.12 Provisions and Contingencies

Provisions are recognised 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 recognised 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 recognised as interest expense.

A provision for onerous contracts is recognized when the
expected benefits to be derived by the Company from a
contract are lower than the unavoidable cost of meeting its
obligations under the contract. The provision is measured
at the present value of the lower of the expected cost
of terminating the contract and the expected net cost
of continuing with the contract. Before a provision is
established, the Company recognizes any impairment loss
on the assets associated with that contract.

Contingent liabilities are disclosed when there is a possible
obligation arising from past events, the existence of which
will be confirmed only by occurrence or non-occurrence of
one or more uncertain future events not wholly within the
control of the Company or a present obligation that arises
from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable
estimate of the amount cannot be made. Contingent
assets are not recognised. However, when the realisation
of income is virtually certain, then the related asset is no
longer a contingent asset, and is recognised as an asset.
Provisions, contingent liabilities and contingent assets are
reviewed at each balance sheet date.

2.13 Share-based payments:

The cost of equity-settled transactions with employees
is measured at fair value at the date at which are granted.
The fair value of share awards is determined with the
assistance of an external valuer and the fair value at the
grant date is expensed on a proportionate basis over the
vesting period based on the Company's estimate of shares
that will eventually vest. The estimate of the number of
awards likely to vest is reviewed at each balance sheet
date up to the vesting date at which point the estimate is
adjusted to reflect the current expectations.

2.14 Cash and cash equivalents:

Cash and cash equivalents in the standalone statement of
assets and liabilities comprises cash at bank and on hand
and short-term deposits with an original maturity of three
months or less, which are subject to an insignificant risk of
changes in value.

2.15 Statement of cash flows

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

2.16 Earnings per share:

The basic earnings per share ("EPS”) is computed by
dividing the net profit / (loss) after tax for the year
attributable to the equity shareholders by the weighted
average number of equity shares outstanding during
the year.

Ordinary shares that will be issued upon the conversion of
a mandatorily convertible instrument are included in the
calculation of basic earnings per share from the date the
contract is entered into.

The diluted earnings per share ("DEPS”) is computed
by dividing the net profit / (loss) after tax for the year
attributable to the equity shareholders by the weighted
average number of equity shares outstanding during the
year, as adjusted for the effects of all dilutive potential
equity shares.

2.17 Current / Non-current classification:

An asset is classified as current if:

(a) it is expected to be realised or sold or consumed in
the Company's normal operating cycle;

(b) it is held primarily for the purpose of trading;

(c) i t is expected to be realised within twelve months
after the reporting period; or

(d) it is cash or a cash equivalent unless it is restricted
from being exchanged or used to settle a liability for
at least twelve months after the reporting period.

All other assets are classified as non-current.

A liability is classified as current if:

(a) it is expected to be settled in the normal
operating cycle;

(b) it is held primarily for the purpose of trading;

(c) i t is expected to be settled within twelve months
after the reporting period; or

(d) the Company does not have right at the end of the
reporting period to defer the settlement of the liability
for at least twelve months after the reporting period.

All other liabilities are classified as non-current.

The operating cycle is the time between acquisition of
assets for processing and their realisation in cash and cash
equivalents. The Company's normal operating cycle is
twelve months.

2.18 Significant accounting estimates, judgements
and assumptions:

The preparation of the Company's standalone financial
statements in conformity with Ind AS requires management
to make judgements, estimates and assumptions that
affect the reported amounts of revenues, expenses, assets
and liabilities and the accompanying disclosures, and the
disclosure of contingent liabilities. Uncertainty about

these assumptions and estimates could result in outcomes
that require a material adjustment to the carrying
amount of assets or liabilities affected in future periods.
The estimates and associated assumptions are based
on historical experience and various other factors that
are believed to be reasonable under the circumstances
existing when the standalone financial statements were
prepared. The estimates and underlying assumptions
are reviewed on an ongoing basis. Revision to accounting
estimates is recognised in the year in which the estimates
are revised and in any future year affected.

In the process of applying the Company's accounting
policies, management has made the following judgements
and estimates which have significant effect on the amounts
recognised in the standalone financial statements:

a. Useful lives of property, plant and equipment
and intangible assets:

The Company reviews the useful lives of property,
plant and equipment and intangibles at the end of
each reporting period. This reassessment may result
in change in depreciation and amortisation expense
in future periods.

b. Defined benefit plan:

The cost of the defined benefit gratuity obligation is
determined using actuarial valuations. An actuarial
valuation involves making various assumptions that
may differ from actual developments in the future.
These include the determination of the discount
rate, future salary increases and attrition rates. Due
to the complexities involved in the valuation and
its long-term nature, a defined benefit obligation is
highly sensitive to changes in these assumptions. All
assumptions are reviewed at each reporting date.

c. Allowances for uncollected accounts
receivable and advances:

Trade receivables do not carry interest and
are stated at their normal value as reduced by
appropriate allowances for estimated irrecoverable
amounts. Individual trade receivables are written
off when management deems them not collectable.
Impairment is made on the expected credit loss
model, which is the present value of the cash shortfall
over the expected life of the financial assets. The
impairment provisions for financial assets are based
on assumption about the risk of default and expected
loss rates. Judgement in making these assumptions
and selecting the inputs to the impairment calculation
are based on past history, existing market condition
as well as forward looking estimates at the end of
each reporting period.

d. Provisions and contingencies:

The Company estimates the provisions that have
present obligations as a result of past events and it is

probable that outflow of resources will be required to
settle the obligations. These provisions are reviewed
at the end of each reporting period and are adjusted
to reflect the current best estimates. The Company
uses significant judgements to assess contingent
liabilities. Contingent liabilities are disclosed when
there is a possible obligation arising from past events,
the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control
of the Company or a present obligation that arises
from past events where it is either not probable that
an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount cannot
be made. Contingent assets are neither recognised
nor disclosed in the standalone financial statements.

e. Share-based payments:

The Company measures the cost of equity-settled
transactions with employees using Black-Scholes
and binomial model to determine the fair value of the
liability incurred on the grant date. Estimating fair
value for share-based payment transactions requires
determination of the most appropriate valuation
model, which is dependent on the terms and
conditions of the grant. This estimate also requires
determination of the most appropriate inputs to the
valuation model including the expected life of the
share option, volatility and dividend yield and making
assumptions about them. The assumptions and
models used for estimating fair value for share-based
payment transactions are disclosed in Note 33.

f. Provision for income tax and deferred tax
assets:

The Company uses judgements based on the relevant
rulings in the areas of allocation of revenue, costs,
allowances and disallowances which is exercised
while determining the provision for income tax. A
deferred tax asset is recognised to the extent that it
is probable that future taxable profit will be available
against which the deductible temporary differences
and tax losses can be utilised. Accordingly, the
Company exercises its judgement to reassess the
carrying amount of deferred tax assets at the end of
each reporting period.

g. Revenue recognition:

The Company exercises judgement in determining
whether the performance obligation is satisfied at a
point in time or over a period of time. The Company
considers indicators such as how customer consumes
benefits as services are rendered or who controls the
asset as it is being created or existence of enforceable
right to payment for performance to date and
alternate use of such product or service, transfer
of significant risks and rewards to the customer,
acceptance of delivery by the customer, etc.

Revenue for fixed-price contracts is recognised using
percentage-of-completion method. The Company
estimates the future cost-to-completion of the
contracts which is used to determine the degree of
the completion of the performance obligation.

h. Leases:

The Company evaluates if an arrangement qualifies
to be a lease as per the requirements of Ind AS 116.
Identification of a lease requires significant judgment.
The Company uses significant judgement in assessing
the lease term (including anticipated renewals) and
the applicable discount rate.

The Company determines the lease term as the non¬
cancellable period of a lease, together with both
periods covered by an option to extend the lease if
the Company is reasonably certain to exercise that
option; and periods covered by an option to terminate
the lease if the Company is reasonably certain not
to exercise that option. In assessing whether the
Company is reasonably certain to exercise an option
to extend a lease, or not to exercise an option to
terminate a lease, it considers all relevant facts and
circumstances that create an economic incentive for
the Company to exercise the option to extend the
lease, or not to exercise the option to terminate the
lease. The Company revises the lease term if there is
a change in the non-cancellable period of a lease.

The discount rate is generally based on the
incremental borrowing rate specific to the lease
being evaluated.

i. Impairment of investment in subsidiaries:

The Company reviews its carrying value of
investments carried at cost (net of impairment, if any)
annually, or more frequently when there is indication
for impairment. If the recoverable amount is less than
its carrying amount, the impairment loss is accounted
for in the statement of profit and loss.

j. Capitalisation of Internally generated
intellectual property:

The Company undertakes various product
development and incurs cost for developing/
upgrading the products to launch new service
modules and functionality to provide an enhanced
suite of services to its customers to generate future
economic benefits for the Company. The Company
capitalises cost incurred during the development
phase of products as intangible assets under
development based on the recognition criteria
specified as per Ind AS 38. Identifying whether the
products are in the development stage requires a
high degree of judgment and significant complexity
involved in assessing technical feasibility of such
products, recognition and measurement of intangible
assets under development.

2.19 Recent Indian Accounting Standards (Ind AS)

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.

In May 2025, MCA notified amendments to Ind AS
21 - The Effects of Changes in Foreign Exchange Rates,
applicable w.e.f. April 1, 2025. The Company has
reviewed the amendment and based on its evaluation has
determined that it does not have any significant impact in
its financial statements.

In August 2025, MCA notified the following
amendments to:

1. Ind AS 1, Presentation of Financial Statements,
applicable w.e.f. April 1, 2025 - The amendment
relates to classification of liabilities as current or non
-current and non-current liabilities with covenants.
In the context of classifying a liability as current,
it removes the requirement of existence of a right
to defer settlement for at least 12 months after
the reporting date, and instead requires that the
said right should exist on the reporting date and
have substance. The amendment also introduces
guidance on classification of liabilities with covenants.
The Company has no impact of these amendments
in its classification criteria of current and non¬
current liabilities.

2. Ind AS 7, Statement of Cash Flows and Ind AS 107,
Financial Instruments - Disclosures, applicable
w.e.f. April 1, 2025 - The amendment in Ind AS 7
requires to inform users of financial statements of
the existence of supplier finance arrangements and
explain the nature of the arrangements, the carrying

amount of liabilities and the range of payment due
dates. Ind AS 107 has been amended to add supplier
finance arrangements as a factor that may cause
concentration of liquidity risk. The Company has
reviewed the amendment and based on its evaluation
has determined that it does not have any impact in its
financial statements.

3. Ind AS 12, International TaxReform - Pillar Two Model

Rules applicable immediately - The amendments
provide a temporary mandatory relief from deferred
tax accounting for top-up tax and disclose that they
have applied the relief. This relief is immediate and
applies retrospectively. The amendments also require
companies to provide new disclosures to compensate
for potential loss of information resulting from the
relief. Such disclosures are to be provided for annual
reporting periods beginning on or after April 1, 2025.
The Company has applied the mandatory relief and
will evaluate the new disclosure requirement relating
to annual financial statements, as appropriate and
disclose accordingly.

2.20 Amendment issued but not effective (effective
from April 01, 2026):

The Ministry of Corporate Affairs (MCA) through
notification dated August 13, 2025, notified amendment
to Ind AS 1, Presentation of Financial statements. This
amendment removes the carve-outs in Ind AS 1 from
IAS 1 when there is a breach of a material covenant that
transforms the liability from non-current to current. The
Company will evaluate the requirements and apply these
amendments from the effective date. However, presently
the Company does not see any material impact on the
financial statements.

Cash-generating units (CGUs) to which goodwill is allocated are tested for impairment at each reporting date, or more
frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is
less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill
allocated to that unit. The Company estimates the value-in-use of the cash generating units (CGUs) based on the future cash
flows after considering current economic conditions and trends, estimated future operating results and growth rate and
anticipated future economic and regulatory conditions. The estimated cash flows are developed using internal forecasts. The
discount rates used for the CGUs represent the weighted average cost of capital based on the historical market returns of
comparable companies.

The goodwill amount for respective years (relating to different CGUs individually) has been evaluated based on the cash
flow forecasts of the related CGUs over a period of five years and the recoverable amounts of these CGUs exceeded their
carrying amounts.

An analysis of the sensitivity of the computation to a change in key parameters (operating margin, discount rates and long
term average growth rate), based on reasonable assumptions, did not identify any probable scenario in which the recoverable
amount of the CGU would decrease below its carrying amount as on date.

The estimated value-in-use of CGUs is based on the future cash flows using terminal growth rate of 5% as at
March 31, 2026 (March 31, 2025 : 3% to 5%) and discount rate of 15% to 16% as at March 31, 2026
(March 31, 2025 : 18% to 25%).

The discount rate is based on the Weighted Average Cost of Capital (WACC) which represents the weighted average return
attributable to all the assets of the Cash Generating Unit (CGU).

(c) Rights, preferences and restrictions attached to equity shares

The Company has one class of equity shares having a par value of C 1 per share. Each shareholder is eligible for one vote per
share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive
the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(d) Rights, preferences and restrictions attached to Series B 0.001% Compulsorily convertible preference
shares (CCPS)

Series B 0.001% Compulsorily Convertible preference shares: All outstanding CCPS shall be converted in the ratio of 1:1 on
the earlier of :

(i) 1 (one) Business Day of the expiry of 5 (five) years from the Closing Date, as applicable; or

(ii) 1 (one) Business Day prior to the date of voluntary or involuntary liquidation, winding up or dissolution of the Company,
including through a shareholders', members' or creditors' voluntary winding up process or a court directed winding-
up process

(iii) 1 (one) Business Day prior to the date of consummation of the sale of any Securities by the Investor to a third party in
accordance with the terms of the Shareholders agreement

(iv) 1 (one) Business Day prior to the last date for the conversion of convertible instruments under applicable Laws, prior to
an IPO or a QIPO (as defined in the Shareholders Agreement) in terms of the Shareholders Agreement, as amended

The CCPS shall bear a coupon rate of 0.001% per annum (calculated on the face value) at the time of conversion of the last
outstanding CCPS. The CCPS shall be non-cumulative. The CCPS holder shall be entitled to participate (on an as converted
basis) in any dividends payable to the holders of Equity Shares. If any CCPS are outstanding and any dividend is declared on
the Equity Shares, the Company shall declare dividend on the CCPS equal to the per Equity Share dividend pro-rated to the
Assumed Equity Percentage.

The Company covenants that till such time that any of the CCPS are outstanding, the Company shall not be entitled to declare
any dividend on any Equity Shares in any year till such time as the dividend in relation to the CCPS has been provided for in full.

The CCPS shall not have any voting rights other than as available under the Act to preference shares. The CCPS shall rank pari
passu with the Equity Shares on liquidation and shall have no liquidation preference.

Pursuant to the issue of bonus shares to the equity shareholders (refer note 35), 4,523,604 outstanding CCPS had converted
into 22,618,020 equity shares in accordance with the terms of the shareholder agreement. The Board of Directors in its
meeting on January 23, 2026 had approved the conversion of Compulsorily Convertible Preference Shares (CCPS) into
equity shares. Accordingly, the CCPS holders were issued 22,618,020 equity shares in lieu of the CCPS held by them.

Key managerial personnel who are under the employment of the Company are entitled to post employment benefits recognized as per Ind AS 19 - ' Employee
Benefits' in the financial statements. As these employee benefits are amounts provided on the basis of actuarial valuation, the same is not included above.
Gratuity has been computed for the Company as a whole and hence excluded.

*The above key managerial personnel have been issued four bonus shares for every one existing fully paid up share of face value of C 1 each held by them.
(Refer note 14(a)(ii).

**The remuneration paid to non -executive directors amounting to C 29 million and C 23 million for the year ended March 31, 2026 and March 31, 2025
respectively.

^A Total employee stock option expense for the years ended March 31, 2026 and March 31, 2025 includes a charge of C 14 million and C 64 million,
respectively, towards key management personnel.

aa The Company has not recognised interest income on loan to subsidiaries where the requirement does not meet the recognition criteria as per Ind AS.
The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end
are unsecured and settlement occurs in cash.

Management believes that Company's international transaction with related parties post March 31, 2025 continue to be at arm's length and that the
transfer pricing legislation will not have any impact on the financial statements, particularly on the amount of provision of taxation for the year ended March
31, 2026.

30 Leases

Company as lessee

The Company has entered into cancellable leasing arrangement in respect of office premises and vehicles for a period of 2-5
years which are renewable on mutual consent.

31 Fair value measurement

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their
levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities if the
carrying amount is a reasonable approximation of fair value those include cash and cash equivalents, other bank balances,
trade receivables, other financial assets, trade payables and other financial liabilities.

32 Financial risk management framework

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Board is responsible for developing and monitoring the Company's risk management policies.
The Board holds regular meetings on its activities.

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 and adherence to limits. Risk management policies and systems are
reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training
and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all
employees understand their roles and obligations.

The Board oversees how management monitors compliance with the Company's risk management policies and procedures,
and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.

a) 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 the Company's receivables from customers.

Financial instruments that are subject to concentration of credit risk principally consist of trade receivables, investments,
loans and other receivables from subsidiaries, cash and cash equivalents and other balances with banks. None of the
financial instruments of the Company result in material concentration of credit risk."

Cash and cash equivalents

Credit risk on cash and cash equivalents and other deposits with banks is limited as the Company generally invests
in deposits with banks with high credit ratings assigned by external credit rating agencies, accordingly the Company
considers that the related credit risk is low.

Trade receivables

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
management also considers the factors that may influence the credit risk of its customer base, including the default risk of
the industry and country in which customers operate.

A default on a financial asset is when the counterparty fails to make contractual payments when they fall due. This
definition of default is determined by considering the business environment in which Company operates and other
macro-economic factors.

Credit quality of a customer is assessed based on its credit worthiness and historical dealings with the Company, market
intelligence and goodwill. Outstanding customer receivables are regularly monitored.

Loans and other financial assets

Loans and other financial assets mainly consists of bank deposits, security deposits, receivable from selling shareholders and
loan to related party. The security deposits pertains to rent deposits given to lessors. The Company does not expect any losses
from non performance by these parties. Loans to related party is secured, accordingly the Company considers that the related
credit risk is low.

Investments

Investments primarily include investment in mutual fund units with high credit ratings assigned by external credit rating
agencies, accordingly the Company considers that the related credit risk is low.

Derivatives

The derivatives are entered into with banks with good credit ratings.
b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to
ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities as and when they are due. The Company
has access to undrawn revolving credit facility as at March 31, 2026 amounting to C 915 million (USD 10 million) and
March 31, 2025 amounting to C 915 million (USD 11 million) which could be used for the working capital needs as and
when required.

Maturities of financial liabilities

The below table analyses the Company's financial liabilities into relevant maturity based on their contractual maturities.
The amounts disclosed in the table are contractual undiscounted cash flows.

(c) Market risk

Market risk is the risk arising from changes in market prices - such as foreign exchange rates and interest rates - that
will affect the Company's income or the value of its holdings of financial instruments. Market risk is attributable to all
market risk sensitive financial instruments including foreign currency receivables and payables and long term debt.
The Company is exposed to market risk primarily related to foreign exchange rate risk, interest rate risk and the market
value of the investments. Thus, the exposure to market risk is a function of investing, revenue generating and operating
activities in foreign currency.

(i) Currency risk

The Company is exposed to currency risk on account of foreign currency transactions including recognized assets
and liabilities denominated in a currency that is not the Company's functional currency (C), primarily in respect of
Euros and United States Dollar. The Company ensures that the net exposure is kept to an acceptable level.

Exposure to currency risk

The Company's exposure to foreign currency risk at the end of the reporting period expressed in INR, are as follows:

Sensitivity analysis of currency risk

Any change with respect to strengthening (weakening) of the Indian Rupee against various currencies as at year ended
March 31, 2026 and year ended March 31, 2025 would have affected the measurement of financial instruments
denominated in respective currencies and affected equity and profit or loss by the amounts shown below. This
analysis assumes that all other variables, in particular interest rates, remain constant and ignore any impact of
forecast sales and purchases.

(ii) Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate
risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest
rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will
fluctuate because of fluctuations in the interest rates.

Exposure to interest rate risk

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

The Company has assessed no exposure to fluctuating change of market interest rates.

(iii) Capital management

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to
optimise returns to its shareholders. The capital structure of the Company is based on management's judgement of
the appropriate balance of key elements in order to meet its strategic and day-to-day needs. The Company's policy
is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors
and market confidence and to sustain future development and growth of its business.

Sensitivity analysis of Outstanding derivative contracts

A reasonably possible strengthening (weakening) of the Indian Rupee against USD and EUR currencies would have
affected the measurement of financial instruments denominated in a foreign currency profit or loss by the amounts
shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores
any impact of forecast sales and purchases.

B Employee stock options scheme (ESOP)

The Company has granted stock options under Fractal Employees Stock Option Plan (ESOP) to its employees which
was approved by its Board and Shareholders and further amended in line with the provisions of Companies Act, 2013.
Pursuant to the Plan, the Company has issued grants to its various employees including employees of subsidiary company
from time to time during financial year ended March 31, 2008 to year ended March 31, 2026. These options vest over
the period of 1-4 years from the grant date and are exercisable within 10 years from vesting date for 2007 scheme and
are exercisable within 10 years from grant date for 2019 scheme . In the case of resignation of the employee, the vested
grants lapse (if not exercised) after 60 days from the date of resignation from service. Vesting of options is subject to
continued employment with the Company. The plan is an equity settled plan. The employee compensation expense for
the year is determined on fair value basis.

C Management Stock Options Scheme (MSOP)

The Company has granted stock option under it's 'Employee Stock Option Plan (ESOP) Time/Performance Based
Management Incentive Plan (MIP) 2019' to its employees which was approved by its Board and Shareholders. Pursuant
to the Plan, the company had issued grants to its various employees from time to time. Of these options, time based
options will vest over the period of 1-4 years from the grant date, whereas performance based options will vest over
satisfaction of milestones stipulated in performance based management plan. These MIP's are exercisable within 10
years from grant date. In the case of termination of employment without Cause or resignation for good reason of the
management personnel, the vested grant lapses (if not exercised) after 3 months from the date of resignation from
service. Vesting of options is subject to continued employment with the Company. The plan is an equity settled plan. The
management personnel compensation expense for the year has been determined on fair value basis.

36 Segment reporting

The Company publishes these standalone financial statements along with the consolidated financial statements. In accordance
with Ind AS 108, Operating Segments, the Company has disclosed the segment information in the consolidated financial
statements.

37 Other Statutory Information

(i) The Company has not advanced or loaned or invested funds (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:

(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.

(ii) The Company has not received any funds 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iii) The Company has not surrendered or disclosed any such transaction which is not recorded in the books of accounts 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).

38 The Company is having following transactions with struck off company during the year ended March 31, 2026:

40 Utilisation of Initial public offering fund

During the year, the Company has completed its Initial Public Offer (IPO) of 31,523,948 equity shares of face value of C 1 each
at an issue price of C 900 per share (including a share premium of C 899 per share). A discount of C 85 per share was offered
to eligible employees bidding in the employee reservation portion of 383,008 equity shares. The issue comprised of a fresh
issue of 11,408,394 equity shares aggregating to C 10,235 million and offer for sale of 20,115,554 equity shares by selling
shareholders aggregating to C 18,104 million. Pursuant to the IPO, the equity shares of the Company were listed on National
Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on February 16, 2026.

42 On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial
Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions
Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published Central Rules and
FAQs to enable assessment of the financial impact due to changes in regulations. The Company has considered restructured
compensation of its employees with effect from April 1, 2026, and assessed the impact of the changes, consistent with the
Labour Codes, rules, FAQs and legal opinion. Considering the materiality and regulatory-driven, non-recurring nature of this
impact, the Company has presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional
Items" in the standalone statement of profit and loss for the year ended March 31, 2026. The Company is further assessing
certain aspects of labor code, recently enacted Central and State Rules as well as clarifications from the Government on
different aspects and upon conclusion, would provide appropriate accounting effect in the books of accounts.

43 Subsequent events after March 31, 2026 :

There are no material subsequent events which have occurred between the reporting date as on March 31, 2026 and the
adoption of the financial statements by the board of directors as on May 11, 2026.

44 These standalone financial statements were authorised for issue by the Company's Board of directors on May 11, 2026.