e) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised if, as a result of a past event, the group 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.
Provisions are determined by discounting the expected future cash flows (representing the best estimate of the expenditure
required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects current market assessments
of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised under
finance costs. Expected future operating losses are not provided for. Provision in respect of loss contingencies relating to
claims, litigations, assessments, fines and penalties are recognised when it is probable that a liability has been incurred
and the amount can be estimated reliably.

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but
probably will not, require an outflow of resources, or a present obligation whose amount cannot be estimated reliably.
Contingent liabilities do not warrant provisions, but are disclosed unless the possibility of outflow of resources is
remote.

Contingent assets are not recognised in financial statement. However, when the realisation of income is virtually certain,
then the related asset is no longer a contingent asset, but it is recognised as an asset.

Contingent Liabilities/Assets to the extent the Management is aware, are disclosed by way of notes to the financial
statements.

f ) Revenue Recognition

Revenue from contracts with customers is recognized, when the group satisfies a performance obligation by transferring
a promised good or service to its customers at an amount that reflects the consideration to which the group expects to be
entitled upon satisfying those performance obligations.

Revenue from sale of products is recognised at the point in time when control of the product is transferred to the
customer, generally on delivery of the product. The Company considers whether there are other promises in the contract
that are separate performance obligations to which a portion of the transaction price needs to be allocated. In determining
the transaction price for the sale of product, the Company considers the effects of variable consideration, the existence
of significant financing components, non-cash consideration and consideration payable to the customer (if any).

If the consideration in a contract includes a variable amount, the Company estimates the amount of consideration to
which it will be entitled in exchange for transferring the products to customer. The variable consideration is estimated
at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of
cumulative revenue recognised will not occur when the associates uncertainty with the variable consideration is
subsequently resolved.

Export Incentive: under various scheme notified by government has been recognized on the basis of credits afforded in
the passbook or amount received.

Interest and Dividend Income: Interest income is recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable.

Income from dividend is recognized when right to receive payment is established.
g ) Employee Benefits

Short Term Employee Benefits

Short-term employee benefits are expenses as the related service is provided. A liability is recognised for the amount
expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past
service provided by the employee and the obligation can be estimated reliably.

Post-Employment Benefits
Defined contribution plan

A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions to a
statutory authority and will have no legal or constructive obligation to pay further amounts.

Retirement benefits in the form of Provident Fund and employee state insurance are a defined contribution scheme and
contributions paid/payable towards these funds are recognised as an expense in the statement of profit and loss during
the period in which the employee renders the related service. There are no other obligations other than the contribution
payable to the respective trusts.

Defined benefit plan

The Company provides for gratuity which is a defined benefit plan the liabilities of which is determined based on
valuation, as at the balance sheet date, made by the independent actuary using the projected unit credit method. Re¬
measurement comprising of actuarial gains and losses, in respect of gratuity are recognised in OCI (other comprehensive
income), in the period in which they occur.

Re-measurement recognised in OCI (other comprehensive income) are not reclassified to the Statement of Profit and
Loss in Subsequent periods.

The classification of the company’s obligation into current and non-current is as per the acturial valuation report.
h ) Foreign Currency Transactions

Transactions in foreign currencies are translated into the Company’s functional currency at the exchange rates at the
dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the
functional currency at the exchange rate at the reporting date. Non-monetary assets and liabilities that are measured
based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Exchange
differences are recognised in Statement of profit & loss.

i) Borrowing costs

Borrowing costs are interest and other costs incurred in connection with the borrowing of funds. Borrowing costs
directly attributable to acquisition, construction or production of an asset which necessarily take a substantial period of
time to get ready for their intended use or sale are capitalised as part of the cost of that asset. Other borrowing costs are
recognised as an expense in the period in which they are incurred.

j ) Income Tax

Income Tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it
relates to items recognised directly in Other Comprehensive Income. Current tax comprises the expected tax payable
or receivable on the taxable income or loss for the year after taking credit of the benefits available under the Income
Tax Act and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates
enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities
for financial reporting purposes and the corresponding tax bases used for taxation purposes. Deferred tax assets include
Minimum Alternative Tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits
in the form of adjustment of future income tax liability, is considered as an asset if there is probable evidence that the
Company will pay normal income tax in future. Accordingly MAT is recognised as deferred tax asset in the Balance
Sheet.

k ) Segment Reporting

Operating Segments are reported in a manner consistent with the information reported to the Chief Operating Decision
Maker (CODM) for the purpose of resource allocation and assessment of segment performance based on product and
services.

l ) Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits
held at call with financial institutions, other short-term, highly liquid investments with original maturities of three
months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of
changes in value. Bank overdrafts and Cash Credit that are repayable on demand and form an integral part of our cash
management are included as a component of cash and cash equivalents for the purpose of the statement of cash flows.
Whereas they are classified as borrowings under current liabilities in the balance sheet.

m) Statement of cash flow

Cash flows are reported using the indirect method, whereby net profit/(loss) before tax is adjusted for the effects of
transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments and item of
income or expenses associated with investing or financing cash flows. The cash flows from regular revenue generating
(operating activities), investing and financing activities of the Company are segregated. The Company considers all
highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk
of changes in value to be cash equivalents.

n) Earning per share

Basic Earnings Per Share (‘EPS’) is computed by dividing the net profit attributable to the equity shareholders by the
weighted average number of equity shares outstanding during the period excluding the treasury shares in accordance
with Ind AS 33 Earnings per share.

Diluted earnings per share is computed by dividing the net profit by the weighted average number of equity shares
considered for deriving basic earnings per share and also the weighted average number of equity shares that could
have been issued upon conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed
converted as of the beginning of the year, unless issued at a later date. In computing diluted earnings per share, only
potential equity shares that are dilutive and that either reduces earnings per share or increases loss per share are included.
The number of shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for the
share splits.

o ) Investments in Subsidiaries

Investments representing equity interest in subsidiaries carried at cost less any provision for impairment. Investments are
reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable.

p) Intangible assets

i) Recognition and initial measurement

Intangible assets that are acquired, are recognized at cost initially and carried at cost less accumulated amortization
and accumulated impairment loss, if any. Subsequent expenditure is capitalised only when it increases the future

economic benefits embodied in the specific asset to which it relates.

An intangible asset is derecognised upon disposal (i.e, at the date the recipient obtains control) or when no future
economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included
in the statement of profit and loss, when the asset is derecognised

ii) Subsequent measurement (amortisation)

Amortisation is calculated to write off the cost of intangible assets over their estimated useful lives using the
“Straight line method” (SLM) method, and is included in depreciation and amortisation in statement of profit and
loss.

Amortisation method and useful lives are reviewed at the end of each financial year and adjusted if appropriate

q) Capital work-in-progress

Capital work-in-progress is recognized at cost, net of accumulated impairment loss, if any. It comprises of property,
plant and equipment that are not yet ready for their intended use at the reporting date. Depreciation is not recorded on
capital work-in-progress until construction and installation are complete and the asset is ready for its intended use by the
management.

r) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial assets and financial liabilities are recognised when the Company becomes a party
to the contractual provisions of the instruments.

Financial asset and financial liabilities are initially measured at fair value. Transaction cost which are directly attributable
to the acquisition or issue of financial instruments (other than financial assets and financial liabilities at fair value through
profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate,
on initial recognition. Transaction cost directly attributable to the acquisition of financial assets financial liabilities at
fair value through profit or loss are recognised immediately in profit or loss. Subsequently, financial instruments are
measured according to the category in which they are classified.

(i) Financial Assets

All purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way
purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame
established by regulation or convention in the market place.

All recognised financial assets are subsequently measured in their entirely at either amortised cost or fair value,
depending on the classification of the financial assets.

Classification of financial assets

Classification of financial assets depends on the nature and purpose of the financial assets and is determined at the
time of initial recognition.

The Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or
loss), and

• those measured at amortised cost

The classification depends on the entity’s business model for managing the financial assets and the contractual
terms of the cash flows.

A financial asset that meets the following two conditions is measured at amortised cost unless the asset is
designated at fair value through profit or loss under the fair value option:

• Business model test : the objective of the Company’s business model is to hold the financial asset to collect the
contractual cash flows.

• Cash flow characteristic test : the contractual term of the financial asset give rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.

A financial asset that meets the following two conditions is measured at fair value through other comprehensive
income unless the asset is designated at fair value through profit or loss under the fair value option:

• Business model test : the financial asset is held within a business model whose objective is achieved by both
collecting cash flows and selling financial assets.

• Cash flow characteristic test : the contractual term of the financial asset gives rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.

All other financial assets are measured at fair value through profit or loss.

Investments in equity instrument at fair value through other comprehensive income (FVTOCI)

On initial recognition, the Company can make an irrevocable election (on an instrument by instrument basis) to present
the subsequent changes in fair value in other comprehensive income pertaining to investments in equity instrument. This
election is not permitted if the equity instrument is held for trading. These elected investments are initially measured at
fair value plus transaction costs. Subsequently, they are measured at fair value with gains / losses arising from changes
in fair value recognised in other comprehensive income. This cumulative gain or loss is not reclassified to profit or loss
on disposal of the investments.

The Company has an equity investment in an entity which is not held for trading. The Company has elected to measure
this investment at amortised cost. Dividend, if any, on this investments is recognised in profit or loss.

Equity investment in subsidiaries, associates and joint ventures

Investments representing equity interest in subsidiaries, associates and joint ventures are carried at cost less any
provision for impairment. Investments are reviewed for impairment if events or changes in circumstances indicate that
the carrying amount may not be recoverable.

Financial assets at fair value through profit or loss (FVTPL)

Financial assets that do not meet the amortised cost criteria or fair value through other comprehensive income criteria are
measured at fair value through profit or loss. A financial asset that meets the amortised cost criteria or fair value through
other comprehensive income criteria may be designated as at fair value through profit or loss upon initial recognition if
such designation eliminates or significantly reduces a measurement or recognition inconsistency that would arise from
measuring assets and liabilities or recognising the gains or losses on them on different bases.

Income Recognition:

Interest income is recognised in the Statement of Profit and Loss using the effective interest method. Dividend income
is recognised in the Statement of Profit and Loss when the right to receive dividend is established.

Impairment

The Company assesses at each reporting date whether a financial asset (or a group of financial assets) such as investments,
trade receivables, advances and security deposits held at amortised cost and financial assets that are measured at fair
value through other comprehensive income are tested for impairment based on evidence or information that is available
without undue cost or effort. Expected credit losses are assessed and loss allowances recognised if the credit quality of
the financial asset has deteriorated significantly since initial recognition.

Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the
assets.For debt securities at fair value through other comprehensive income, the loss allowance is recognised in other
comprehensive income and is not reduced from the carrying amount of the financial asset in the balance sheet.

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no
realistic prospect of recovery. This is generally the case when the Company determines that the trade receivable does
not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write¬
off. However, financial assets that are written-off could still be subject to enforcement activities under the Company’s
recovery procedures, taking into account legal advice where appropriate. Any recoveries made are recognised in
standalone statement of profit and loss.

De-recognition of financial assets

A financial asset is derecognised only when

• The Company has transferred the rights to receive cash flows from the financial asset or

• Retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation
to pay the cash flows to one or more recipients.

(ii) Financial liabilities and equity instruments
Classification of debt or equity

Debt or equity instruments issued by the Company are classified as either financial liabilities or as equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and an
equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all

of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received, net of direct
issue costs.

Financial liabilities

Borrowings, trade payables and other financial liabilities are initially recognised at the value of the respective
contractual obligations. They are subsequently measured at amortised cost. Any discount or premium on
redemption/ settlement is recognised in the Statement of Profit and Loss as finance cost over the life of the
liability using the effective interest method and adjusted to the liability figure disclosed in the Balance Sheet.
Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is
discharged, cancelled and on expiry.

Offsetting Financial Instruments

Financial assets and liabilities are offset and the net amount is included in the Balance Sheet where there is a
legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise
the asset and settle the liability simultaneously.

s) Leases

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net
present value of the following lease payments:

a. fixed payments

b. amount expected to be payable under residual value guarantees

c. the exercise price of a purchase option if it is reasonably certain that the Group will exercise that option

Lease payments to be made under reasonably certain extension options are also included in the measurement of the
liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily
determined, which is generally, the case for lessees, the lessee’s incremental borrowing rate used, being the rate that the
individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use
asset in a similar economic environment with similar terms, security and conditions.

To determine the incremental borrowing rate, the Group:

a. where possible, uses recent third-party financing received as a starting point, adjusted to reflect changes in
financing conditions since third party financing was received

b. uses a build-up approach that starts with a risk free interest rate adjusted for credit risk for leases held by the
Group, which does not have recent third party financing, and

c. makes adjustments specific to the lease, e.g. term, country, currency and security.

Lease payments are allocated between principal and finance cost. The finance cost is charged in the Statement of Profit
and Loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the
liability for each period.

Right of use assets are measured at cost comprising the following:

a. the amount of the initial measurement of lease liability

b. any lease payments made at or before the commencement date,

c. any initial direct costs, and

d. restoration cost

Right-of-use assets are generally depreciated over the lower of the asset’s useful life and the lease term on a straight¬
line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the
underlying asset’s useful life.

Payments associated with short term leases and all leases of low value assets are recognized on a straight-line basis as
an expense in profit or loss. Short term leases are leases where the lease term is 12 months or less.

t) Recent 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. During the year ended March 31, 2025, MCA has
notified Ind AS 117 - Insurance Contracts and amendments to Ind As 116 - Leases , relating to sale and lease back
transactions, applicable from April 1,2024. The Company has assessed that there is no significant impact on its financial
statements.

On May 9, 2025, MCA notifies the amendments to Ind AS 21 - Effects of Changes in Foreign Exchange Rates. These
amendments aim to provide clearer guidance on assessing currency exchangeability and estimating exchange rates when
currencies are not readily exchangeable. The amendments are effective for annual periods beginning on or after April 1,
2025. The Company is currently assessing the probable impact of these amendments on its financial statements.

III) Fair values hierarchy

Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:

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

Level 2: Inputs other than quoted price 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).

The fair value of financial instruments that are not traded in an active market is determined using market approach and valua¬
tion techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If
significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

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

If one or more of the significant inputs is not based on observable market data, the fair value is determined using generally
accepted pricing models based on a discounted cash flow analysis, with the most significant inputs being the discount rate that
reflects the credit risk of counterparty

The fair value of trade receivables, trade payables and other current financial assets and liabilities is considered to be equal to the
carrying amounts of these items due to their short-term nature. Where such items are non-current in nature, the same has been
classified as Level 3 and fair value determined using discounted cash flow basis. Similarly, unquoted equity instruments where
most recent information to measure fair value is insufficient, or if there is a wide range of possible fair value measurements, cost
has been considered as the best estimate of fair value.

There has been no change in the valuation methodology for Level 3 inputs during the year. The Company has not classified any
material financial instruments under Level 3 of the fair value hierarchy. There were no transfers between Level 1 and Level 2
during the year. .

Financial Risk Management Objectives And Policies

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The
Company’s primary risk management focus is to minimize potential adverse effects of market risk on its financial performance.
The Company’s risk management assessment and policies and processes are established to identify and analyze the risks faced
by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk
assessment and management policies and processes are reviewed regularly to reflect changes in market conditions and the
Company’s activities. The Board of Directors and the Audit Committee is responsible for overseeing the Company’s risk
assessment and management policies and processes.

The Company’s financial risk management policy is set by the management. Market risk is the risk of loss of future earnings, fair
values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument
may change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes
that affect market risk sensitive instruments. The Company manages market risk which evaluates and exercises independent
control over the entire process of market risk management. The management recommend risk management objectives and
policies, which are approved by Senior Management and the Audit Committee.

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the Company’s receivables from customers. Credit risk arises from cash held
with banks as well as credit exposure to clients, including outstanding accounts receivable. The maximum exposure to credit
risk is equal to the carrying value of the financial assets. The objective of managing counterparty credit risk is to prevent losses
in financial assets. The Company assesses the credit quality of the counterparties, taking into account their financial position,
past experience and other factors. The Company establishes an allowance for doubtful debts and impairment that represents its
estimate of incurred losses in respect of trade and other receivables and investments.

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demograph¬
ics of the customer, including the default risk of the industry and country in which the customer operates, also has an influence
on credit risk assessment. Credit risk is managed through continuously monitoring the creditworthiness of customers to which
the Company grants credit terms in the normal course of business. An impairment analysis is performed at each reporting
date on an individual basis for major customers. The history of receivables shows a negligible provision for bad and doubtful
debts.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market
rates and prices (such as interest rates, foreign currency exchange rates and commodity prices) or in the price of market risk-sen¬
sitive instruments as a result of such adverse changes in market rates and prices. Market risk is attributable to all market risk-sen¬
sitive financial instruments and all short term and long-term debt. The Company is exposed to market risk primarily related to
foreign exchange rate risk, interest rate risk and the market value of its investments. Thus, the Company’s exposure to market risk
is a function of investing and borrowing activities.

i) Foreign exchange risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates.

The Company has international transactions and is exposed to foreign exchange risk arising from foreign currency trans¬
actions (imports and exports). Foreign exchange risk arises from future commercial transactions and recognised assets and
liabilities denominated in a currency that is not the Company’s functional currency. The Company does not hedge its foreign
exchange receivables/payables..

The following table sets forth information relating to foreign currency exposure (other than risk arising from derivatives
disclosed below):

45 Additional Regulatory information:

i) The Company does not have any benami property, and no proceeding has been initiated against the Company for holding any
benami property.

ii) The Company does not have any transactions with struck off companies.

iii) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) be¬

yond the statutory period.

iv) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

v) 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.

vi) 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 party (ultimate beneficiaries) or

b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

vii) The Company does not have any 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).

viii) The Company has not been declared as a wilful defaulter by any banks or any other financial institution at any time during the
financial year or after the end of the reporting period but before the date when the financial statements are approved.

ix) The title deeds of all the immovable properties (other than immovable properties where the Company is the lessee and the lease
agreements are duly executed in favour of the Company) disclosed in the financialv statements included in property, plant and
equipment and capital work-in progress are held in the name of the Company as at the balance sheet date.

x) The Company does not have any loan or advance in the nature of loans granted to promoters, directors, KMPs and the related
parties (as defined under Companies Act, 2013) either severally or jointly with any other person, that are:

a) repayable on demand; or

b) without specifying any terms or period of repayment.

xi) Figures have been rounded off to the nearest Lakhs rupees.

xii) a) As per the Ministry of Corporate Affairs (MCA) notification, proviso to Rule 3(1) of the Companies (Accounts) Rules,

2014, for the financial year commencing April 1, 2023, every company which uses accounting software for maintaining
its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every
transaction, creating an edit log of each change made in the books of account along with the date when such changes were
made and ensuring that the audit trail cannot be disabled. The interpretation and guidance on what level edit log and audit
trail needs to be maintained evolved during the year and continues to evolve.

b) The ERP used by the Company has not been enabled with the feature of audit trail log at the database layer to log direct
transactional changes, due to present design of ERP. This is being taken up with the vendor. In the meanwhile, the Com¬
pany continues to ensure that direct write access to the database is granted only via an approved change management
process.

46 Previous year’s figures have been reclassified / regrouped wherever necessary to conform to current year’s classification / disclo¬
sure.

47 The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits received
Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will
come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact
of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. Based on a pre¬
liminary assessment, by the Company, the additional impact on Provident Fund contributions by the Company is not expected to be
material, whereas, the likely additional impact on Gratuity liability / contributions by the Company could be material. The Company
will complete their evaluation and will give appropriate impact in the financial statements in the period in which, the Code becomes
effective and the related rules to determine the financial impact are published.

48 The financial statements were approved by the Board of Directors and authorised for issue on May 30, 2025.

Auditor’s Report

As per our separate report of even date attached For Titan Biotech Limited

For A N S K & Associates

Chartered Accountants Naresh Kumar Singla Suresh Chand Singla

FRN-026177N Managing Director Managing Director

DIN-00027448 DIN-00027706

cA Akhil Mittal

Partner charanjit Singh Prem Shankar Gupta

M.No.517856 Company Secretary Chief Financial Officer

ACS-12726 . PAN-AARPP5057F

Place : Delhi

Date : 30.05.2025

UDIN-25517856BMKXIU8390