2.10 Provisions, contingent liabilities and contingent assets
Provisions

A provision is recognized if, as a result of a past event, the Company has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the effect of the time value of
money is material, provisions are determined by discounting the expected future cash flows at
a pre-tax rate that reflects current market assessments of the time value ofmoney and the risks—
specific to the liability. Where discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

Contingent liabilities

A disclosure for a contingent liability is made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources. Where there is a
possible obligation or a present obligation in respect of which the likelihood of outflow of
resources is remote, no provision or disclosure is made.

Contingent assets

Contingent assets are not recognized in the financial statements. However, contingent assets
are assessed continually and if it is virtually certain that an inflow of economic benefits will
arise, the asset and related income are recognized in the period in which the change occurs.

2.11 Revenue Recognition

Revenue from contracts with customers

Revenue is recognized when the Company substantially satisfied its performance obligation
while transferring a promised good or service to its customers. The company considers the
terms of the contract and its customary business practices to determine the transaction price.
Performance obligations are satisfied at the pomt of time when the customer obtains controls
of the asset.

f/ Co/ , II—U

Revenue is measured based on transaction price, which is the fair value of the consideration
received or receivable, stated net of discounts, returns and value added tax. Transaction price
is recognised based on the price specified in the contract, net of the estimated sales incentives
/ discounts. Accumulated experience is used to estimate and provide for the discounts/ right
of return, using the expected value method.

2.12 Dividend and Interest Income

Dividend income is recognised in profit or loss on the date on which the Group's right to
receive payment is established.

Interest Income mainly comprises of interest on Margin money deposit with banks relating to
bank guarantee and term deposits.

Interest income or expense is recognised using the effective interest method (EIR).

Interest is recognized using the time-proportion method, based on rates implicit in the
transactions

2.13 Tax Expenses

Income tax expense comprises current and deferred tax. It is recognised in profit or loss except
to the extent that it relates to a business combination, or items recognised directly in equity or
in Other comprehensive income.

The Company has determined that interest and penalties related to income taxes, including
uncertain tax treatments, do not meet the definition of income taxes, and therefore accounted
for them under Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets.

Current tax

Current income tax assets and liabilities are measured at the amount expected to be recovered
from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount
are those that are enacted or substantively enacted, at the reporting date. Current income tax
relating to items recognised outside the statement of profit and loss is recognised outside the
statement of profit and loss (either in OCI or in equity in correlation to the underlying
transaction). Management periodically evaluates positions taken in the tax returns with respect
to situations in which applicable tax regulations are subject to interpretation and establishes
provisions, where appropriate.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting date.

Deferred tax liabilities and assets are recognized for all taxable temporary differences and
deductible temporary differences. // A\

mmYW

2 Reg- 'K’jJyfr 11

\^S3^S1S2 Jyjtjw

Deferred tax assets are recognised to the extent that it is probable that taxable profit will be
available against which the deductible temporary differences, and the carry forward of unused
tax credits and unused tax losses can be utilized.

The carrying amount of deterred tax assets is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable profit will be available to allow all
or part of the deferred tax asset to be utilised.

Unrecognised defened tax assets are re-assessed at each reporting date and are recognised to
the extent that it has become probable that future taxable profits will allow the deferred tax
asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the
period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that
have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognised outside the statement of profit and loss is recognised
outside the statement of profit and loss (either in OC1 or in equity in correlation to the
underlying transaction).

Defened tax assets and deferred tax liabilities are offset if a legally enforceable right exists to
set off current tax assets against current tax liabilities and the deferred taxes relate to the same
taxable entity and the same taxation authority.

Goods and Service Tax (GST) paid on acquisition of assets or on incurring expenses

When the tax incurred on purchase of assets or services is not recoverable from the taxation
authority, the tax paid is recognised as part of the cost of acquisition of the asset or as part of
the expense item, as applicable. Otherwise, expenses and assets are recognized net of the
amount of taxes paid. The net amount of tax recoverable from, or payable to, the taxation
authority is included as part of receivables or payables in the balance sheet.

2.14 Earnings Per Share

Basic earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable
to equity shareholders (after deducting preference dividends and attributable taxes) by the
weighted average number of equity shares outstanding during the year.

The weighted average number of equity shares outstanding during the year is adjusted for
events such as bonus issue, bonus element in a rights issue, share split, and reverse share split
(consolidation of shares) that have changed the number of equity shares outstanding, without a
corresponding change in resources.

Diluted earnings per share

Diluted earnings per share is computed by dividing the profit (considered in determination of
basic earnings per share) after considering the effect of interest and other financing costs or
income (net of attributable taxes) associated with dilutive potential equity shares by the
weighted average number of equity shares considered for deriving basic earnings per share
adjusted for the weighted average number of equity shares that would have been issued upon
conversion of all dilutive potential equity shares.

2.15 Segment reporting

The Company is engaged “advertising and media agencies” and the same constitutes a single
reportable business segment as per Ind AS 108. And hence segment reporting specified as per
IND AS 108 is not applicable.

2.16 Share capital

Incremental costs directly attributable to the issue of equity shares are recognised as a
deduction from equity. Income tax relating to transaction costs of an equity transaction is
accounted for in accordance with Ind AS 12.

2.17 New standards adopted by the company

Ind AS 1 - Presentation of Restated financial information

The amendments require companies to disclose their material accounting policies rather than
their significant accounting policies. Accounting policy information, together with other
information, is material when it can reasonably be expected to influence decisions of primary
users of general purpose financial statements. The Company does not expect this amendment
to have any significant impact in its financial statement.

Ind AS 12 - Income Taxes

The amendments clarify how companies account for deferred tax on transactions such as
leases and decommissioning obligations. The amendments narrowed the scope of the
recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that
it no longer applies to transactions that, on initial recognition, give rise to equal taxable and
deductible temporary differences. The Company does not expect this amendment to have any
significant impact in its financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors

The amendments will help entities to distinguish between accounting policies and accounting
estimates. The definition of a change in accounting estimates has been replaced with a
definition of accounting estimates. Under the new definition, accounting estimates are
“monetary amounts in financial statements that are subject to measurement uncertainty”.
Entities develop accounting estimates if accounting policies require items in Restated
financial information to be measured in a way that involves measurement uncertainty. The
company does not expect this amendment to have any significant impact in its financial
statements.

Ml

2.18 New Accounting pronouncements

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.
For the year ended March 31. 2024. MCA has not notified any new standards or amendments
to the existing standards applicable to the Company.