2.7 Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that the Company will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the
end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is
measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash
flows.

2.8 Cash and cash equivalents

Cash and Cash Equivalents in the balance sheet and for the purpose of cash flow statement comprise cash in hand and cash at
bank including fixed deposit with original maturity period of three months and short-term highly liquid investments with an
original maturity of three months or less.

2.9 Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period and for all periods presented is adjusted for events, such as bonus shares that have changed the
number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders
and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential
equity shares.

2.A CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make Judgements, estimates and assumptions about the
reported amounts of assets and liabilities, and income and expenses that are not readily apparent from other sources. Such
judgements, estimates and associated assumptions are evaluated based on historical experience and various other factors,
including estimation of the effects of uncertain future events, which are believed to be reasonable under the circumstances.
Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that
period or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and estimations that have been made by the management in the process of applying
the Company's accounting policies and that have the most significant effect on the amount recognised in the financial
statements and/or key sources of estimation uncertainty that may have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year.

a Income tax

As stated in Note 39, tax expense is calculated using applicable tax rates and tax laws that have been enacted or substantively
enacted. In arriving at taxable profit and tax bases of assets and liabilities the Company adjudges taxability of amounts in
accordance with tax enactments, case law and opinions of tax counsel, as relevant. Where differences arise on tax assessment,
these are booked in the period in which they are agreed or on final closure of assessment.

b Recognition of deferred tax assets

Deferred tax assets are recognised for unused tax-loss carry forward and unused tax credits to the extent that realisation of the
related tax benefit is probable. The assessment of the probability with regard to the realisation of the tax benefit involves
assumptions based on the history of the entity and budgeted data for the future

c Useful lives of property, plant and equipment and, intangible assets

The Company reviews the estimated useful lives of property, plant and equipment and intangible assets at the end of each
reporting period.

Notes on Financial Ratio : (Explanation for change in ratio more than 25%)

1. Current Ratio

Decline in Current ratio is due to loss for the FY 2023-24

2. Debt - Equity Ratio

(a) The Company resorted to debt financing in order to meet statutory payments and other working capital requirments

(b) Other Equity reduced due to loss for the FY 2023-24

3. Return on Equity Ratio

Stamp duty payment on increase in authorised capital resulted into huge loss. Post management change, the Company is in the
transition phase appointing employees at various level for expansion planing.

4. Return on capital employed

Stamp duty payment on increase in authorised capital resulted into huge loss. Post management change, the Company is in the
transition phase appointing employees at various level for expansion planning.

²⁶ The Previous year’s figures have been regrouped/ rearranged wherever necessary to conform to the current year's
classification/disclosure.

27 In the opinion of the management and to the best of their knowledge and belief, the value on realisation ofTrade Receivables,Trade
payables, Parties accounts and Other current assets in the ordinary course of business will not be less than the amounts at which
they are stated in the Balance Sheet.

28 There is no liability on account of contracts to be executed on capital accounts as at the balance sheet date.

29 The company has not provided for current tax as the management is of the opinion that there is no taxable income during the year.

30 There are no transactions with struck off companies under section 248 or 560

31 No charges or satisfaction is yet to be registered with Registrar of Companies beyond the statutory period.

32 The Company has complied with the no. of layers prescribed u/s 2(87) read with the applicable Rules

33 There is no Scheme of Arrangements that has been approved in terms of sections 230 to 237 of the Companies Act 2013

34 The company has not advanced/loaned/invested or received funds (either borrowed funds or share premium or any other sources or
kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall 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 provide any guarantee, security or the like to or
on behalf of the Ultimate Beneficiaries

35 There are no transactions that are not recorded in the books of account to be surrendered or disclosed as income during the year in
the tax assessments under the Income Tax Act, 1961

36 The company is not covered under section 135 of the Companies Act 2013

37 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year
As per our report of even date attached

For Mahesh C Solanki & Co., For and on behalf of the Board of Directors of

Chartered Accountants Dr. Adv. Arikuzhiyan Samsudeen sd/-

FRNo. 006228C Chairman cum Non-Executive Director

^sd/- _sd/-

CA Vinay Kumar Jain ^su/

Memb No. 232058 Dr. Muhemmed Swadique

Partner Whole Time Director

UDIN: 24232058BKCZSN4806

sd/-

Place: Chennai, Ms. Heena Rangari

Date: 29-05-2024. Company Secretary cum Compliance Officer