b) Rights, preference and restrictions attached to the equity shares:

The Company has single class of equity shares having a par value of Rs. 10 each. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

f) The Company has not allotted any fully paid-up equity share by way of bonus shares, or in pursuant to contract without payment being received in cash nor has bought back any class of equity shares during the period of five years immediately preceding the balance sheet date.

(i) Interest free indian rupee loan outstanding of Rs 293.48 lakhs as at 31 March 2025 (31 March 2024: Rs 276.43 lakhs) from Spice Energy Private Limited, Holding Company, is repayable on demand.

(ii) Interest free indian rupee loan outstanding of Rs 223.35 lakhs as at 31 March 2025 (31 March 2024: Rs 223.35 lakhs) from SRM Energy Tamilnadu Private Limited, a wholly owned subsidiary, is repayable on demand.

21 Contingent liabilities and commitments (A) Contingent liabilities:

(i) The Company have been made one of the parties to the case filed by Mr. D Sundararajan (Plaintiff) against Spice Energy Private Limited, Holding Company in the Bombay High Court (Suit No. 966 of 2014) for the recovery of his alleged salary of Rs 853.67 lakhs along with interest @ 18% p.a. from the Holding Company. The other parties to the case are SRM Energy Tamilnadu Private Limited, wholly owned subsidiary company, Mr. Gagan Rastogi and Mr. Deep Kumar Rastogi (all parties against the Plaintiff together referred to as "the Defendants"). The last effective order in the matter is dated 30 September 2019 directing the Defendants to prepare a list of admission and denial of the Plaintiff's documents. The case is getting adjourned thereafter.

23 Employee benefits

(i) Defined Benefit Plan - Gratuity:

The Company has a defined benefit gratuity plan in India (unfunded). The Company’s defined benefit gratuity plan is a final salary plan for employees. Gratuity is paid from entity as and when it becomes due and is paid as per Company scheme for Gratuity.

The Company determines the gratuity liability based on the actuarial valuation using Projected Unit Credit Method by an Independent firm of Actuaries that is registered with The Institute of Actuaries of India.

The following table summarizes the position of obligation relating to gratuity plan:

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The sensitivity analysis presented above may not be representative of the actual change in the Defined Benefit Obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis, the present value of the Defined Benefit Obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the Defined Benefit Obligation as recognised in the balance sheet.

Risk exposures: Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed below:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. rate will increase the present value of the liability requiring higher provision.

Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the plan's liability. Asset Liability matching risk: The plan faces the ALM risk as to the matching cash flow. Company has to manage pay-out based on pay as you go basis from own funds.

Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.

During the year, there were no plan amendments, curtailments and settlements.

(ii) The obligation for compensated absences cover the Company's liability for earned leave. The Company during the year has recognised compensated absences expense amounting to charge of Rs. 0.72 lakhs (31 March 2024: Rs. 0.64 lakhs) disclosed under Employee benefits expense (refer note 16).

Fair value hierarchy

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

Financial instruments - risk management

The Company has exposure to the following risks arising from financial instruments: credit risk (refer note (b) below); liquidity risk (refer note (c) below); market risk (refer note (d) below).

(a) 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 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's 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.

(b) Credit risk

Credit risk is the risk that a counter party fails to discharge its obligation to the Company. The maximum credit risk comprises the carrying amounts of the financial assets. The Company's exposure to credit risk arises mainly from cash and cash equivalents and loans.

Cash and cash equivalents

Credit risk on cash and cash equivalent is not significant as it majorly includes deposits with banks with high credit ratings assigned by credit rating agencies. Management does not expect any losses from non-performance by these counterparties. Other financial assets measured at amortized cost

Other financial assets measured at amortized cost includes security deposits. Credit risk related to these is managed by monitoring the recoverability of such amounts continuously. The expected credit loss on these financial instruments is expected to be insignificant.

(c) Liquidity risk

Liquidity risk is the risk that the Company will not be able to settle or meet its obligations on time. The cash flows from operating activities are driven primarily by operating results and changes in the working capital requirements.

The table below provides details of financial liabilities further, based on contractual undiscounted payments.

(d) Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates, which will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

i) Currency risk

The transactions entered into by the Company are denominated in Indian Rupees. Accordingly, the Company does not have any currency risk.

ii) Interest rate risk

The Company’s does not have any interest bearing borrowings and accordingly does not have any interest rate risk.

25 Capital management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximizing the return to stakeholders through optimisation of debt and equity balance.

26 Segment information

The Company is engaged into one reportable business segment i.e. 'generation of power”. No other operating segment has been aggregated to form the above reportable operating segment. Accordingly, the disclosure requirements of Ind AS - 108, Operating Segments notified under section 133 of the Companies Act, 2013 are not applicable.

27 Dues to micro and small enterprises

There are no dues outstanding to micro and small enterprises as at the end of reporting years except below. The information regarding micro and small enterprises has been determined to the extent such parties have been identified

29 Subsequent events

There are no subsequent events that have occurred after the reporting period till the date of these standalone financial statements.

30 Other statutory information

i) Details of benami property held: The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

ii) Wilful defaulter: The Company is not declared wilful defaulter by any bank or Financial institution or other lender during the year.

iii) Relationship with struck off companies: The Company does not have any transactions with companies struck off.

iv) Registration of charges or satisfaction with Registrar of Companies (ROC): The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

v) Borrowings secured against current assets: The Company does not have borrowings from banks or financial institutions on the basis of security of current assets.

vi) Utilisation of borrowed funds and share premium:

A. The Company has 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.

B. The 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:

(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.

vii) Compliance with number of layers of companies: The Company has complied with the requirements of the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

viii) Valuation of Property, Plant and Equipment or Intangible Assets: The Company does not have any property, plant and equipment or intangible assets, thus, disclosures relating to revaluation of property, plant and equipment or intangible assets is not applicable.

ix) Loans or advances in the nature of loans to specified persons: The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013) that are: (a) repayable on demand or (b) without specifying any terms or period of repayment during the year.

x) Compliance with approved Scheme of Arrangement: The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

xi) Capital work-in-progress (CWIP) & Intangible assets under development: There are no capital work-in-progress and intangible assets under development as at end of the financial year.

31 Details of crypto currency or virtual currency: The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year. The Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

32 Undisclosed income: The Company does not have not 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.

33 Corporate Social Responsibility: The Company does not fulfill the criteria as specified under section 135(1) of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014. Accordingly, provisions of section 135 of the Act are not applicable to the Company.

34 In the opinion of the board of directors, assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amounts at which they are stated and provision for all known liabilities have been made.

35 The Company did not have any long-term contracts including derivative contracts for which there were any foreseeable losses as at 31 March 2025.

36 There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the year ended 31 March 2025.

37 The Company during the year has noticed some fraudulent activities being conducted in the name of the Company through unauthorized communication channels /links/ social media platforms etc. Further, the Company vide its letter dated 12 December 2024 to Bombay Stock Exchange Limited clarified that the Company has no association, connection or involvement with any such activities and has cautioned the public at large not to indulge in such activities. No financial loss to the Company has been reported as a result of these incidents.

38 Previous year's figures: Previous year's figures have been regrouped / restated / reclassified, wherever necessary, to confirm to the