2.13 Provisions & contingencies:

Income-tax expense comprises current tax (i.e. amount of tax for the period determined in accordance with the income-tax law) and deferred tax charge or credit effects of timing
differences between accounting income and taxable income for the period). Income-tax expense is recognised in profit or loss except that tax expense related to items recognised
directly in reserves is also recognised in those reserves.

Current tax is measured at the amount expected to be paid to (recovered from) the taxation authorities, using the applicable tax rates and tax laws. Deferred tax is recognised in
respect of timing differences between taxable income and accounting income i.e. differences that originate in one period and are capable of reversal in one or more subsequent
periods. The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates and tax laws that have been enacted or
substantively enacted by the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can be realised in future; however,
where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognised only if there is a virtual certainty supported by convincing
evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised. Deferred tax assets are reviewed as at each balance sheet
date and written down or written-up to reflect the amount that is reasonably/virtually certain (as the case may be) to be realised.

2.14 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. 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 except where the result would be anti-dilutive.

2.15 Foreign Currency Transactions

Foreign Currency Transactions are recorded at the exchange rate prevailing on the date of transaction. All monetary foreign currency assets/liabilities are translated at the rates
prevailing on the date of balance sheet. The exchange difference between the rates prevailing on the date of transaction and on the date of settlement as also on translation of
monetary items at the end of the year is recognized as income or expense, as the case may be.

2.16 Investments:

Investments, which are readily realizable and intended to be held for not more than one year from the date on which investments are made , are classified as current investments.
All other investments are classified as long term investments. Long-term investments are stated at cost, less provision for other than temporary diminution in the carrying value of
each investment. Current investments are stated at the lower of cost and fair value.

E) Terms/ rights attached to equity shares

(i) Voting

The Company has only one class of equity shares having a par value of 10 per share. Each holder of equity share is entitled to one vote
per share.

(ii) Liquidation

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive 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.

(iii) Dividend

The dividend proposed, if any, by the Board of Directors is subject to the approval of the shareholders in ensuing Annual General
Meeting.

F) For the period of five years immediately preceding the date as at which the Balance Sheet

The Company has not allotted any shares for consideration other than cash or by way of bonus shares during the five years
immediately preceding the balance sheet date, except for the bonus issue made during the financial year 2023-24, wherein bonus
shares were allotted to the existing shareholders in the ratio of 9:2 (i.e., 9 fully paid equity shares for every 2 equity shares held).

A. Details of terms and conditions (From Banks) :

a) Term Loan from Yes Bank

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

b) Term Loan from HDFC Bank

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

c) Term Loan from Axis Bank

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

d) Term Loan from ICICI Bank

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

B. Details of terms and conditions (from Other) :

a) Term Loan from Kotak Mahindra Prime Limited

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

b) Term Loan from Toyota Finance Services India Limited

Term loans outstanding as on 31.03.2025 are repayable in equally monthly instalments and carrying interest which varies from 9% p.a.
to 10% p.a. with monthly rests and is secured by way of hypothecation of vehicles on which term loan has been taken.

C. Details of terms and conditions (Finance Lease) :

a) Leasing from Tata Capital Limited:

As at 31st March 2025, lease liabilities pertaining to finance leases from Tata Capital Limited are repayable in equal monthly lease
over a period of 48 months. The lease obligations are secured by hypothecation of the vehicles acquired under the lease arrangements.
The Company has recognised the right-of-use assets and corresponding lease liabilities in accordance with the applicable accounting
standard.

b) Leasing from Toyota Financial Services India Limited:

As at 31st March 2025, lease liabilities pertaining to finance leases from Toyota Financial Services India Limited are repayable in
equal monthly lease over a period of 48 months. The lease obligations are secured by hypothecation of the vehicles acquired under the
lease arrangements. The Company has recognised the right-of-use assets and corresponding lease liabilities in accordance with the
applicable accounting standard.

c) Leasing from Muon India Private Limited:

As at 31st March 2025, lease liabilities pertaining to finance leases from MUON India Private Limited are repayable in equal monthly
lease over a period of 48 months. The lease obligations are secured by hypothecation of the vehicles acquired under the lease
arrangements. The Company has recognised the right-of-use assets and corresponding lease liabilities in accordance with the
applicable accounting standard.

Note : Due to voluminous term loans, number of equally monthly instalments of each term loan has not been provided.

Note :

* includes Rs.10 lakh FD out of Unutilized IPO proceeds and bank deposits ? 48.93 pledged against bank guarantees.

** The company has an overdraft facility with a sanctioned limit of ?1,400 lakhs, against which a credit balance of ?542.54 lakhs is
outstanding indicating surplus funds within the facility.

***includes bank deposits ? 205.66 lakhs pledged against bank guarantees.

28 Earning Per Share (EPS)

A) Basic EPS is calculated by dividing the profit for the year attributable to equity holders by the weighted average number of equity shares outstanding during the period.

(B) Diluted EPS is calculated by dividing the profit for the period attributable to the equity holders after considering the effect of dilution by weighted average number of
equity shares outstanding during the period plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares
into equity shares.

v. ) The Company do not have any Benami property as on 31st March, 2025 and 31st March, 2024 where any proceeding has been initiated or pending against the Company
for holding any Benami property.

vi. ) The Company is required to submit statement of current assets with the bank or financial institutions and therefore reconciliation of the statement filed by the company
with bank are in agreement with books of accounts.

vii. ) The Company does not have any transactions in financial year 2024-25 and 2023-24, where the company has not used the borrowings from banks and financial
institutions for the specific purpose for which it was taken at the balance sheet date.

viii. ) The Company has not been declared as wilful defaulter by any bank or financial institution or government or any government authority in the financial year 2024-25 and
2023-24.

ix. ) The Company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial
year ending 31st March, 2025 and 31st March, 2024.

x. ) The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year ending 31st March, 2025 and 31st March, 2024.

xi. ) The Company has no cases of any charges or satisfaction which is yet to be registered with ROC beyond the statutory period in the financial year ending 31st March,
2025 and 31st March, 2024.

xii. ) The company has complied with the number of layers prescribed under clause (87) of section 2 ofthe Act read with Companies (Restriction on number ofLayers) Rules,
2017.

xiii. ) Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, the Company shall
disclose that the effect of such Scheme of Arrangements have been accounted for in the books of account of the Company in accordance with the Scheme‘ and in accordance
with accounting standards‘ and deviation in this regard shall be explained, however company has not entered into any such schemes during the year ending 31st March, 2025
and 31st March, 2024.

xiv. )

(A) During the financial year 2024-25 and 2023-24, 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) During the financial year 2024-25 and 2023-24, 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

xv. ) The Company has not entered in any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the current & previous
financial 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.

44 The figures in the financial statements have been rounded off to the nearest lakh of rupees as per the requirements of Schedule III to the Companies Act, 2013,
unless stated otherwise.

45 Previous year accounts have been regrouped/ recast, wherever necessary to make them comparable with those of current year.

As per our Report of even date

For Raj Gupta & Co. For and On behalf of the Board of Directors

Chartered Accountants

Firm Registration No.: 000203N

Geetanjali Nagpal Vivek Laroia Manish Kumar Sharma

Partner (Managing Director) (Whole Time Director)

Membership No. 532274 DIN : 02534740 DIN : 07541303

Place : New Delhi
Date: May 20, 2025
UDIN:25532274BMIDZB5779

Ashok Vashist Sameep Mittal Shivani Rastogi

(Chief Executive Officer) (Chief Finance Officer) (Company Secretary)