(o) Accounting for Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognized, when there is a present legal or constructive obligation as a result of a past event, it is probable
that an outflow of resources will be required to settle the obligation, and when a reliable estimate of the amount of the
obligation can be made. If the effect of the time value of money is material, the provision is discounted using a pre-tax
rate that reflects current market assessments of the time value of money and the risks specific to the obligation and the
unwinding of the discount is recognised as interest expense.

Contingent liabilities are recognized only when there is a possible obligation arising from past events, due to 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. Obligations are assessed on an ongoing basis and only those having a largely probable outflow
of resources are provided for. Contingent liabilities are not recognized in these financial statements, but are disclosed in
Notes

Contingent assets arc neither recognized nor disclosed in the financial statements.

(p) Borrowing Costs:

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset.

All other borrowing costs arc expensed in the period in which they occur. Borrowing costs consist of' interest and other
costs

that the Company incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to
the extent regarded as an adjustment to the borrowing costs. -

(q) Cash and Cash Equivalent (for the.purpose of cash flow statements):

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original
maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into
known amounts of cash and which are subject to insignificant risk of changes in value.

(r) Cash Flow Statement:

Cash flows are reported using the indirect method, whereby profit/ (loss) before tax is adjusted for the effects of transactions
of no cash nature and any deferrals or accruals of past or future cash receipts or payments. Cash flow for the year are
classified by operating, investing and financing activities.

(s) Earnings Per Share:

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year including potential equity shares
on compulsory convertible debentures. Diluted earnings per share is computed by dividing the profit / (loss) after tax
(including the post-tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or
income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of
equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which
could have been issued on the conversion of all dilutive potential equity shares.

(t) Segment Reporting:

The Company identifies operating segments based on the internal reporting provided to the Managing Director. The
Managing Director, who is responsible for allocating resources and assessing performance of the operating segments, has
been identified as the committee that makes strategic decisions.

The accounting policies adopted for segment reporting are in line with the accounting policies of the Company. Segment
revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their
relationship to the operating activities of the segment.

Inter-segment revenue is accounted on the basis of transactions which are primarily determined based otPmarket Hm* value
factors. Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments

on reasonable basis have been included under ‘‘unallocated revenue / expenses / assets/liabilities”., /'V

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All operating segments, operating results are reviewed regularly by the Company's Board of Directors to make decisions
about resources to he allocated to the segments and assess their performance.

(u) Financial Instruments:

Financial Assets: .

Classification

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other
comprehensive income or fair value through profit or loss on the basis of its business model for managing the financial
assets and the contractual cash flow characteristics of the financial asset.

Initial Recognition and measurement:

All financial assets (not measured subsequently at fair value through profit or loss) are recognised initially at fair value plus
transaction costs that are attributable to the acquisition of the financial asset. Purchases or sales of financial assets that
require delivery of assets within a time frame established by regulation or convention in the market place (regular way
trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

Debt instruments at amortised cost

A ‘debt instrument’ is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and
interest (SPP1) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised cost using the effective interest rate
(E1R) method. Amortised cost is calculated by taking into account any discount or premium and fees or costs that are an
integral part of the E1R. The EIR amortisation is included in finance income in the Statement of Profit and Loss. The losses
arising from impairment are recognised in the Statement of Profit and Loss. This category generally applies to loans and
advances, deposits, trade and other receivables.

Debt instruments included within the fair value through profit and loss (FVTPL) category are measured at fair value with
all changes recognized in the Statement of Profit and Loss.

Equity investments

All equity investments in scope of Ind-AS 109 are measured at fair value. Equity instruments are classified as FVTPL.
Investment in subsidiaries, joint ventures and associates are carried at cost less impairment, if any.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily
derecognised (i.e. removed from the Company’s balance sheet) when:

- The rights to receive cash flows from the asset have expired, or

- The Company has transferred its rights to receive cash Hows from the asset or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either:

(a) the Company has transferred substantially all the risks and rewards of the asset, or

(b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred

control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or bus entered Into' a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither

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transferred nor retained substantially all ol the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognise the transferred asset to the extent ol'the Company's continuing involvement. In that case,
the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a
basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original
carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. .

Impairment of financial assets

In accordance with Ind-AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition
of impairment loss on the following financial assets and credit risk exposure:

a) Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits, and
bank balance.

b) Trade receivables.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on trade receivables which do
not contain a significant financing component.

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises
impairment loss allowance based on lifetime ECLs at each Balance Sheet date, right from its initial recognition.

Financial Liabilities

Classification

The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at
fair value through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at
fair value

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and
borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of
directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts,
financial guarantee contracts and derivative financial instruments.

Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the E1R
method. Gains and losses are recognised in the Statement of Profit and Loss when the liabilities are derecognised.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.

This category generally applies to interest-bearing loans and borrowings.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an
existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original
liability and the recognition of a new liability. The difference in the respective carrying amounjsJsjKcy^tiised in the
Statement of Profit and loss. yjAT R/4 A/r* Av

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(IM'-cl'.in.g ol Imnnciul instruinenls

Financial assets and financial liabilities arc offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the asset’s
and settle the liabilities simultaneously.

. I quit}; instruments .

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities, hquity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs.

Related Party Disclosure:

Disclosure ot transactions with Related Parties, as required by Ind AS 24 "Related Party Disclosures" has been set out in a
separate statement annexed to this Schedule. Related Parties as defined in Ind AS 24 have been identified on the basis of
representations made by key managerial personnel and information available with the Company.

Related party transactions during the year and outstanding as on date 31-03-2024 are as below. Nature of Relationship: A
private limited company in which directors relatives are member / director.

As per our Report of even date annexed

For Venkat & Rangaa LLP For and on behalf of Board of Directors

Chartered Accountants

LLPIN: AAK-56^2, FRN No. 4597S<G^j^\ ’ ' '

iffe

S^rofrartRajan (Partner) ⁵¹ j ^ i¹ Vivek Ramsisaria Varun Ramsisaria

M.No.206393 ^ Managing Director Wholetime Director

Place: Chennai ^; ‘ ^ ~ DIN: 01942187 DIN.01107837

Date: 28-5-2024