M. Provision, contingent liabilities and contingent assets

A provision is recognised 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. 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.

Contingencies:

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.

M. Provision, contingent liabilities and contingent assets (Continued)

Contingent labilities and contingent assets:

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 has to be recognised in the financial statements in the period in which if it is virtually certain that an inflow of economic benefits will
arise. Contingent assets are assessed continually and no such benefits were found for the current financial year.

N. Earnings 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 year. 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. 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.

P. 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.

Q. 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.

R. Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such
events is adjusted within the financial statements. Otherwise, events after the balance sheet date of material size or nature are only disclosed.

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

24 Disclosure as per Section 186 of the Companies Act, 2013

The details of loans, guarantees and investments under Section 186 of the Companies Act, 2013 read with the Companies (Meetings of
Board and its Powers) Rules, 2014 are as follows :

(i) Details of investments made are given in Note 5(a)

(ii) Loans given by the Company is Nil (as at March 31, 2023: Nil)

(iii) Guarantees given by the Company is Nil (as at March 31, 2023: Nil)

25 Segment reporting

A. Basis for segmentation

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur
expenses, including revenues and expenses that relate to transactions with any of the Company’s other components, and for which discrete
financial information is available. All operating segment's results are reviewed regularly by the Company’s Chairman and MD to make
decisions about resources to be allocated to the segments and assess their performance.

The Chief Operating Decision Maker ("CODM") evaluates the Company’s performance and allocates resources based on an analysis of
various performance indicators at operational unit level and since there is single operating segment, no segment disclosures of the company
is presented. The Company’s operations fall within a single business segment “Diagnostic services”.

B. Geographical information

The Company operates within India and therefore there are no assets or liabilities outside India.

C. Major customers

Revenue from any single customer of the Company's operating segment does not exceed 10% of the total revenue reported and hence the
there are no major customers to be disclosed.

26 Employee benefit plans

The Company has following post employment benefit plans:

(a) Defined contribution plans

Contributions were made to provident fund (at the rate of 12% of basic salary) and Employee State Insurance in India for the employees of the
Company as per the regulations. These contributions are made to registered funds administered by the Government of India. The obligation of the
Company is limited to the amount contributed and it has no further contractual nor any other constructive obligation. The expense recognised
during the year in the standalone statement of profit and loss towards defined contribution plan is Rs. 12.06 lakhs (March 31, 2023: Rs. 12.44
lakhs).

(b) Defined benefit plan

The Company provides for Gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for
a period of 5 years are eligible for Gratuity. The amount of Gratuity payable on retirement/ termination is the employee's last drawn basic salary
per month computed proportionately for 15 days salary multiplied for the number of years of service or part thereof in excess of six months,
restricted to a sum of Rs. 20.00 lakhs. The gratuity plan is an unfunded plan.

This defined benefit plans expose the Company to actuarial risks, such as longevity risk, interest rate risk and market (investment) risk.
i. Reconciliation of the net defined benefit (asset)/ liability

The amounts recognised in the balance sheet and the movements in the defined benefit obligation and fair value ofplan assets over the year are as
follows:

The amounts recognised in the balance sheet and the movements in the defined benefit obligation as per the valuation report as at March
31, 2024 are produced in the tables below

The Company’s policy is to maintain a stable and strong capital structure with a focus on equity so as to provide returns to shareholders, benefits to other stakeholders, creditors
and to sustain future development and growth of the business. In order to maintain the capital structure, the Company monitors the return on capital as well as debt to total
equity ratio. The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to all its shareholders. For
the purpose of debt to total equity, debt includes its long-term and short-term borrowings. Total equity comprises of issued share capital and all other equity reserves. Since the
total equity is negative, Gearing ratio is not given.

34 Other statutory information

i. The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami
property.

ii. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act,
1956 during the financial year.

iii. The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

iv. The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

vii. The Company has not entered into 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 wilful defaulter by any bank or financial institution or other lender.

For M. Anandam & Co. For and on behalf of the Board of Directors of

Chartered Accountants Medinova Diagnostic Services Limited

ICAI Firm registration number: 000125S CIN:L85110TG1993PLC015481

Madhuri Chimalgi Dr. Sura Surendranath Reddy Sunil Chandra Kondapally

Partner Chairman Managing Director

Membership Number: 235955 DIN: 00108599 DIN Number: 01409332

Place: Hyderabad Nikhil Rajmal Jain Hansraj Singh Rajput

Date: 26 Apr, 2024 Chief Financial Officer Company Secretary

Place: Hyderabad
Date: 26 Apr, 2024