2.8 Cash and Cash Equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short
term balances (with an original maturity of three months or less from the date of acquisition),
highly liquid investments that are readily convertible into known amounts of cash and which
are subject to insignificant risk of changes in value

2.9 Cash Flow Statement

Cash flows are reported using the indirect method, whereby loss before extraordinary items
and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments. The cash flows from operating, investing,
and financing activities of the Company are segregated based on the available information.

2.10 Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to
the Company and the revenue can be reliably measured. Revenue is measured at the fair value
of the consideration received or receivable, taking into account contractually defined terms of
payment and excluding taxes or duties collected on behalf of the government. The Company
has concluded that it is the principal in all of its revenue arrangements since it is the primary
obligor in all the revenue arrangements as it has pricing latitude and is also exposed to credit
risks.

2.11 Employee retirement benefits: Provident Fund

Retirement benefit in the form of provident fund is a defined contribution scheme. Eligible
employees receive benefits from a provident fund, which is defined benefit plan. Both the
eligible employee and the Company make monthly contributions to the provident fund plan
equal to a specified percentage of the covered employee’s salary. The contributions are made
to the Regional Provident Fund which is charged to the Statement of Profit and Loss as
incurred.

The Company has no obligation, other than the contribution payable to the provident fund.
The Company recognizes the contribution payable to the provident fund scheme as
expenditure when the employee renders the related service.

2.12 Taxation

The current income tax charge is calculated on the basis of the tax laws enacted or
substantively enacted at the end of the reporting period. Management periodically evaluates
positions taken in tax returns with respect to situations in which applicable tax regulation is
subject to interpretation. It establishes provisions where appropriate on the basis of amounts
expected to be paid to the tax authorities.

Deferred income tax is provided in full, using the balance sheet method, on temporary
differences arising between the tax bases of assets and liabilities and their carrying amounts in
the financial statements. Deferred income tax is determined using tax rates (and laws) that
have been enacted or substantially enacted by the end of the reporting period and are
expected to apply when the related deferred income tax asset is realized or the deferred
income tax liability is settled. Deferred tax assets are recognized only if it is probable that future
taxable amounts will be available to utilize those temporary differences and losses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset
current tax assets and liabilities and when the deferred tax balances relate to the same
taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally
enforceable right to offset and intends either to settle on a net basis, or to realize the asset and
settle the liability simultaneously.

2.13 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. Potential equity shares are deemed to be dilutive only if their conversion to equity
shares would decrease the net profit per share from continuing ordinary operations. Potential
dilutive equity shares are deemed to be converted as at the beginning of the period, unless
they have been issued at a later date. The dilutive potential equity shares are adjusted for the
proceeds receivable had the shares been actually issued at fair value (i.e. average market value
of the outstanding shares). Dilutive potential equity shares are determined independently for
each period presented. The number of equity shares and potentially dilutive equity shares are
adjusted for share splits / reverse share splits and bonus shares, as appropriate.

2.14 Foreign Currency Transactions

The Company operates internationally and is exposed to foreign exchange risk arising from
foreign currency transactions. Foreign exchange risk arises from future commercial
transactions and recognized assets and liabilities denominated in a currency that is not the
company’s functional currency (INR). Foreign currency transactions are recorded at the
exchange rates as on the date of the transaction and the exchange difference arising from
foreign currency transactions is dealt with in both Profit and Loss account and also in Balance
sheet as the case may be.

2.15 Borrowing Costs

Borrowing costs consist of interest and other costs that the Company incurs in connection with
the borrowing of funds. All borrowing costs are expensed in the period they occur.

2.16 Events after the reporting period

Ind AS-10 has disclose impact about the entity shall incur any events either favorable or
unfavorable that occur between the end of the reporting period and the date when the
financial statements are approved by the Board of Directors in case of a company, and, by the
corresponding approving authority in case of any other entity for issue. There are no material
events occurred after the reporting period, which requires adjustment to Assets / Liabilities as
on March 31,2024.

24 All Amounts mentioned in financial statement represents for the year ended 31.03.2024

25 Previous year figures have been properly carryforward to this year as comparative figures.

26 All amounts in the financial statements have been rounded off to lakhs. #

27. Based on the information and explanation given by the company there were no dues to
Micro, Small and Medium Scale industries.

Notes Forming Part of the Financial Statements

The accompanying notes form an integral part of the financial statements. As per our report of
even date attached

For K.Gopal Rao & Co
Chartered Accountants

Firm Registration No. 0009568

For and on behalf of the Board of directors

Madan Gopal Narayanan Dr. M. Vasudevan M. Vijayakumar

Partner Managing Director Director

Membership No. 211784

Place: Chennai
Date: 30/05/2024