q) Provisions, Contingent Liabilities and Contingent Assets Provision

A provision is recorded when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reasonably estimated.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the

risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expenses.

Contingent Liabilities

Wherever there is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because:

(a) it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or

(b) the amount of the obligation cannot be measured with sufficient reliability. Contingent assets are neither recognized nor disclosed.

r) Earnings per share

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

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

s) Functional and presentation currency and Foreign Currency Transactions

Items included in the Standalone Financial Statements of the Company are measured using the currency of the primary economic environment in which these entities operate (i.e. the “functional currency”). The Standalone Financial Statements are presented in Indian Rupee, the national currency of India, which is the functional currency of the Company.

In preparing the Standalone financial statements of the Company, transactions in currencies other than the entity's functional currency (foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences on monetary items are recognized in profit or loss in the period in which they arise.

t) Use of Estimates

The preparation of Standalone Financial Statements requires management to make certain estimates and assumptions that affect the amounts reported in the Standalone Financial Statements and Notes thereto. The management believes that these estimates and assumptions are reasonable and prudent. However, actual results could differ from these estimates.

u) Significant Estimations and Judgments

The areas involving critical estimates or judgments are:

- Estimation of fair value of financial assets and liabilities- Management applies valuation techniques to determine the fair value of financial instruments (where active market quotes are not available). This involves developing estimates and assumptions consistent with how market participants would price the instruments. The management uses the best information available. Estimated fair values may vary from the actual prices that would be achieved in an arm's length transaction at the reporting date.

- Estimation of useful lives of depreciable/ amortisable assets- Management reviews its estimate of the useful life of the depreciable/ amortisable asset at the end of each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technical and economic obsolescence.

- Recoverability of advances and receivables- At each balance sheet, based on historical default rates observed over expected life, the management assess the expected credit loss on outstanding advances and trade receivables.

- Recognition of deferred tax assets- The extent to which deferred tax assets can be recognized is based on an assessment of the probability of the future taxable income against which the deferred tax assets can be utilised.

- Evaluation of indicators for impairment of assets- The evaluation of applicability of indicators of impairment of assets requires assessment of several external and internal factors which could result in deterioration of recoverable amount of the assets.

35 Post-employment benefits Defined contribution plan

The Company makes Provident Fund contributions, which is a defined contribution plan, for all employees. Under the Scheme, the Company contributes 12% of the qualifying salary to fund the benefit. The expense recognised by the Company towards the contribution plan in the Statement of Profit and Loss during the year is ? 2.51 lakhs (March 31,2023: ? 2.01 lakhs ).

Defined benefit plan

The Company has a defined benefit gratuity plan, governed by the Payment of Gratuity Act, 1972. It entitles an employee, who has rendered at least five years of continuous service, to gratuity at the rate of fifteen days wages for every completed year of service or part thereof, based on the rate of wages last drawn by the employee concerned. The gratuity plan is an unfunded plan, the liability for which is determined for all employees who have completed atleast 5 years of service based on the actual completed period of service by the respective employees and their current salary. Accordingly, the other disclosures in this regard have not been provided. The Management has determined that the impact of applying the projected unit credit method for determining the liability would not have any material impact on the liability recognised and hence the same has been determined based on amount actually due as at the year end.

36 Contingent Liability

The Company does not have any contingent liability as at March 31, 2024 and March 31,2023.

Note: The Company has not disclosed fair values of financial instruments such as investments in security deposits, bank deposits, trade receivables, cash and bank balances, other financial assets because their carrying amounts are reasonable approximations of their fair values. Such items have been classified under amortised costs in the above table.

B. Credit risk, Liquidity risk and Market risk

The Company's activities expose it to credit risk and liquidity risk. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

a) Credit risk: The credit risk refers to risk that a counter party will default on its contractual obligations resulting in financial loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, bank balances and security deposits.

The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in the credit risk the Company compares the risk of default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. Surplus cash is deposited only with banks/financial institutions/ invested in mutual funds with a high external credit rating. The credit risk on security deposits has been assessed as insignificant.

b) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to sell a financial asset quickly to meet obligations when due. The Company's exposure to liquidity risk arises primarily from mismatches of maturities of financial assets and liabilities.

The Company manages the liquidity risk by (i) maintaining adequate and sufficient cash and cash equivalents (ii) making available the funds from realizing timely maturities of financial assets to meet the obligations when due. The Management monitors rolling forecast of the Company's liquidity position and cash and cash equivalents on the basis of expected cash flows. Also, the Company manages the liquidity risk by projecting cash flows considering the level of liquid assets necessary to meet the obligations by matching the maturity profiles of financial assets and financial liabilities and monitoring Balance Sheet liquidity ratios. Further, the liquidity risk management involves matching the maturity profiles of financial assets and financial liabilities.

c) Maturity profile

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, including contractual interest but excluding impact of netting agreements.

The actual outflow of resources in respect of the financial guarantee liability is contingent on any default made by the subsidiary to its bankers. Accordingly, the maturity profile for the same has not been disclosed above as the same is not pre-determined.

38 Capital management

The Company adheres to a cautious capital management that seeks to trigger growth creation and maximization of shareholders' value. For the purpose of the Company's capital management, capital includes issued capital and all other equity reserves attributable to the shareholders of the Company. The Company has been funding its growth and working capital requirements completely through internal accruals and did not have any debt.

40 Disclosures in respect of operating leases:

The Company, vide agreement dated May 4, 2012 has given land along with its demised premise under lease for a period of 29 years to Apollo Hospitals Enterprises Limited which is renewable at the option of lessee for a further period of 31 years. The Company has also let-out certain other residential properties on a short-term basis. In line with these agreements, as amended, the Company has during the year received rental income of Rs. 811.08 lakhs (FY 2022-23 - Rs. 718.25 Lakhs) and the same is included under Other Operating Revenue.

• Significant assumptions in determining the fair value of land:

In the opinion of the management, the guideline value is nearer to the fair value and accordingly, the guideline value as advised by the Government of Tamil Nadu is reckoned as fair value.

In respect of Investment property purchased and capitalized during the year ended March 31,2022, the value at which the property was purchased is assumed to be fair value of the property for the current and previous year.

• Rental Income from Investment Property (recognized as other Operating income) - Rs. 811.08 lakhs (FY 2022-23 - Rs. 718.25 lakhs)

• Direct operating expenses arising from Investment property that generated/did not generate incomeRs. 2.62 lakhs (Rs. 2.20 lakhs)

42 Title deeds of Immovable Property not held in the name of the Company:

The Company does not possess any immovable property whose title deeds are not held in the name of the Company during the financial year ended March 31,2024 and March 31, 2023.

43 Other disclosures related to Property, Plant and Equipment, Intangible Assets, Capital work-inprogress and Intangible Assets under development

The Company has not revalued its Property, Plant and Equipment or Intangible Assets or both during the year.

The Company did not have any Capital work-in-progress or Intangible assets under development. Accordingly the relevant disclosures in this regard have not been provided.

44 Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988(45 of 1988) and rules made there under during the financial years ended March 31, 2024 and March 31,2023.

45 Loans and advances to related parties

There are no Loans or Advances in the nature of loans that have been 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

46 - Borrowing from bank or financial institutions

The Company does not have any borrowings from banks or financial institutions on the basis of security of current assets.

47 Wilful Defaulter

The Company has not been declared as a wilful defaulter by any bank or financial Institution or other lendors.

48 Transactions with Struck off Companies

There are no transactions with struck off companies under section 248 or 560 during the financial years ended March 31, 2024 and March 31,2023.

49 Utilisation of Borrowed funds and Share premium

(A) 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.

(B) 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 (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

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

51 The Company has complied with the number of layers prescribed u/s 2(87) read with the applicable Rules.

52 There is no Scheme of Arrangements that has been approved in terms of sections 230 to 237 as per Companies Act, 2013.

53 Details of Crypto Currency or Virtual Currency:

The Company has not traded or invested in crypto currency or virtual currency during the financial years ended March 31, 2024 and March 31, 2023.

54 Undisclosed Income

There are no transactions in nature of Undisclosed Income during the financial years ended March 31, 2024 and March 31, 2023.

There is no shortfall in the CSR amount required to be spent by the Company as per section 135(5) of the Act for the financial year ended March 31,2024

56 Segment reporting Identification of segments:

The chief operational decision maker monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit and loss of the segment and is measured consistently with profit or loss in these financial statements.

Operating segments have been identified on the basis of the nature of services.

Operating segments:

(a) Renting of investment property

(b) Implementation of solar power projects

Geographical segments

The Company's operations and customers are only in India. Accordingly, there are no reportable geographical segments.

Segment revenue and results

The expenses and income which are not directly attributable to any business segment are shown as unallocable expenditure (net of unallocable income).

Segment assets and liabilities:

Assets used by the operating segments mainly consist of property, plant and equipment, trade receivables, cash and cash equivalents and inventories. Segment liabilities include trade payables and other liabilities. Common assets and liabilities which cannot be allocated to any of the segments are shown as a part of unallocable assets/liabilities. Liabilities which cannot be allocated to any of the segments are shown as a part of unallocable assets/liabilities. The measurement principles of segments are consistent with those used in preparation of these standalone financial statements. There are no inter-segment transfers.

Remarks

(i) The primary reason for the significant increase in the Current Ratio is due to a reduction in customer advances on invoice being raised.

(ii) The decrease in Return on equity ratio and return on capital employed is on account of increase in retained earnings.

(iii) The increase in the Net capital turnover ratio is primarily attributable to the additional revenue generated during the current year.

(iv) The decrease in the Net Profit Ratio is due to the lower margin involved in the revenue generated from the implementation of solar power project.

(v) The increase in Return on Investment is attributable to increase in the market value of the investments made.

58 Events after reporting date

The Company has evaluated subsequent events from the balance sheet date through the date on which the financial statements were authorised for issue, and determined that there are no items to disclose.

59 Previous year balances

Previous year figures have been regrouped/reclassified wherever necessary to correspond with current year's classification/disclosure. Such restatement does not have any material effect on the information in the balance sheet at the beginning of the preceding period.

As per our report of even date

For R.Subramanian and Company LLP For and on behalf of the Board of Directors of

Chartered Accountants Dynavision Limited

Firm Registration No : 004137S/S200041 CIN: L31100TN1973PLC006439

A. Balasubramaniam R.P. Agrawal A. Sudheer Reddy

Partner Director/ CFO Director

Membership No. 241419 DIN: 05253615 DIN: 07184171

Place: Chennai V. Jayashree

Date : May 9, 2024 Company Secretary

M. No. A58225