(m) Provisions and Contingent liabilities, Contingent

assets

(i) Provision

A provision is recognized when the Company has
a present obligation (legal or constructive) as a
result of past event, it is probable that an outflow
of resources embodying economic benefits will
be required to settle the obligation and a reliable
estimate can be made of the amount of the
obligation. These estimates are reviewed at each
reporting date and adjusted to reflect the current
best estimates. If the effect of the time value of
money is material, provisions are discounted using a
current pretax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is
used, the increase in the provision due to the assage
of time is recognized as a finance cost.

Warranty Provision

Provision for warranty-related costs are recognized
when the product is sold or service is provided to
customer. Initial recognition is based on historical
experience. The Company periodically reviews the
adequacy of product warranties and adjust warranty
percentage and warranty provisions for actual
experience, if necessary.

(ii) Contingent liabilities

A contingent liability is a possible obligation that
arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of
one or more uncertain future events beyond the
control of the Company or a present obligation that
is not recognized because it is not probable that
an outflow of resources will be required to settle
the obligation. A contingent liability also arises
in extremely rare cases, where there is a liability
that cannot be recognized because it cannot be
measured reliably. The Company does not recognize
a contingent liability but discloses its existence in
the financial statements unless the probability of
outflow of resources is remote.

(iii) Contingent assets

Contingent assets are not recognized. However,
when the realization of income is virtually certain,
then the related asset is no longer a contingent
asset, but it is recognized as an asset.

Provisions, contingent liabilities, contingent
assets and commitments are reviewed at each
balance sheet date.

n) Employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non¬
monetary benefits that are expected to be settled
wholly within twelve months after the end of the
period in which the employees render the related
service are recognised in respect of employees'
services up to the end of the reporting period
and are measured at the undiscounted amounts
expected to be paid when the liabilities are settled.
The liabilities are presented as current benefit
obligations in the balance sheet.

(ii) Other long-term employee benefit obligations

Other long-term employee benefits includes earned
leaves, sick leaves and employee bonus.

Earned leaves

The liabilities for earned leaves are not expected to be
settled wholly within twelve months after the end of
the period in which the employees render the related
service. They are therefore measured at the present
value of expected future payments to be made in
respect of services provided by employees up to the
end of the reporting period using the projected unit
credit method, with actuarial valuations being carried
out at the end of each annual reporting period.
The benefits are discounted using the government
bond yields at the end of the reporting period that
have terms approximating to the terms of the
related obligation. Remeasurements as a result of
experience adjustments and changes in actuarial
assumptions are recognised in statement of profit &
loss. The obligations are presented as provisions in
the balance sheet.

(iii) Post-employment obligations

The Company operates the following post
employment schemes:

• defined benefit plan towards payment
of gratuity; and

• defined contribution plans towards provident
fund & employee pension scheme and
employee state insurance.

Defined benefit plans

The Company provides for gratuity obligations
through a defined benefit retirement plan (the
'Gratuity Plan') covering all employees. The
Gratuity Plan provides a lump sum payment to
vested employees at retirement/termination of
employment or death of an employee, based on
the respective employees' salary and years of
employment with the Company.

The liability or asset recognised in the balance sheet
in respect of the defined benefit plan is the present
value of the defined benefit obligation at the end
of the reporting period less the fair value of plan
assets. The present value of the defined benefit
obligation is determined using projected unit credit
method by discounting the estimated future cash
outflows by reference to market yields at the end of
the reporting period on government bonds that have
terms approximating to the terms of the related
obligation, with actuarial valuations being carried
out at the end of each annual reporting period.

The net interest cost is calculated by applying the
discount rate to the net balance of the defined
benefit obligation and the fair value of plan assets.
This cost is included in employee benefit expense in
the statement of profit and loss. Remeasurement
gains and losses arising from experience
adjustments and changes in actuarial assumptions
are recognised in the period in which they occur,
directly in other comprehensive income. They are
included in retained earnings in the statement of
changes in equity and in the balance sheet.

Defined contribution plans

Defined contribution plans are retirement

benefit plans under which the Company pays
fixed contributions to separate entities (funds)
or financial institutions or state managed benefit
schemes. The Company has no further payment
obligations once the contributions have been paid.
The defined contributions plans are recognised
as employee benefit expense when they are due.
Prepaid contributions are recognised as an asset to
the extent that a cash refund or a reduction in the
future payments is available.

• Provident Fund Plan & Employee Pension
Scheme

The Company makes monthly contributions at
prescribed rates towards Employees'Provident Fund/
Employees' Pension Scheme to a Fund administered
and managed by the Government of India.

• Employee State Insurance

The Company makes prescribed monthly
contributions towards Employees' State
Insurance Scheme.

• Leave Encashment

The Company has recognised liability for short
term compensated absences on full cost basis with
reference to unavailed earned leaves at the year end.
To the extent, the compensated absences qualify as
a long term benefit, the Company has provided for
the long term liability at year end as per the actuarial
valuation using the Projected Unit Credit Method.

Actuarial gains and losses arising from adjustments
and changes in actuarial assumptions are charged or
credited to the Statement of profit and loss in the
year in which such gains or losses arise.

(o) Share-based payment

Employees (including senior executives) of the
Company receive remuneration in the form of share-
based payments, whereby employees render services
as consideration for equity instruments (equity-
settled transactions).

Equity Settled transactions

The cost of equity-settled transactions is determined by
the fair value at the date when the grant is made using
an appropriate valuation model. Further details are
given in Note 33.

That cost is recognised, together with a corresponding
increase in share-based payment (SBP) reserves in equity,
over the period in which the performance and/or service
conditions are fulfilled in employee benefits expense.
The cumulative expense recognised for equity-settled
transactions at each reporting date until the vesting
date reflects the extent to which the vesting period has
expired and the Company's best estimate of the number
of equity instruments that will ultimately vest. The
expense or credit in the statement of profit and loss for a
period represents the movement in cumulative expense
recognised as at the beginning and end of that period and
is recognised in employee benefits expense.

Service and non-market performance conditions are not
taken into account when determining the grant date fair
value of awards, but the likelihood of the conditions being
met is assessed as part of the Company's best estimate
of the number of equity instruments that will ultimately
vest. Market performance conditions are reflected within
the grant date fair value. Any other conditions attached to
an award, but without an associated service requirement,
are considered to be non-vesting conditions. Non-vesting
conditions are reflected in the fair value of an award and
lead to an immediate expensing of an award unless there
are also service and/or performance conditions.

No expense is recognised for awards that do not ultimately
vest because non-market performance and/or service
conditions have not been met. Where awards include a
market or non-vesting condition, the transactions are
treated as vested irrespective of whether the market or
non-vesting condition is satisfied, provided that all other
performance and/or service conditions are satisfied.

When the terms of an equity-settled award are modified,
the minimum expense recognised is the grant date fair
value of the unmodified award, provided the original
vesting terms of the award are met. An additional expense,

measured as at the date of modification, is recognised
for any modification that increases the total fair value
of the share-based payment transaction, or is otherwise
beneficial to the employee. Where an award is cancelled
by the entity or by the counterparty, any remaining
element of the fair value of the award is expensed
immediately through statement of profit or loss.

The dilutive effect of outstanding options is reflected as
additional share dilution in the computation of diluted
earnings per share.

(p) 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.

(i) Financial assets

• Initial Recognition and measurement

Financial assets are classified, at initial recognition,
as subsequently measured at amortised cost, fair
value through other comprehensive income (OCI),
and fair value through profit or loss.

The classification of financial assets at initial
recognition depends on the financial asset's
contractual cash flow characteristics and the
Company's business model for managing them. With
the exception of trade receivables that do not contain
a significant financing component or for which the
Company has applied the practical expedient, the
Company initially measures a financial asset at its
fair value plus, in the case of a financial asset not at
fair value through profit or loss, transaction costs.
Trade receivables that do not contain a significant
financing component or for which the Company has
applied the practical expedient are measured at the
transaction price determined under Ind AS 115.

The Company's business model for managing
financial assets refers to how it manages its financial
assets in order to generate cash flows. The business
model determines whether cash flows will result
from collecting contractual cash flows, selling the
financial assets, or both. Financial assets classified
and measured at amortised cost are held within a
business model with the objective to hold financial
assets in order to collect contractual cash flows
while financial assets classified and measured at
fair value through OCI are held within a business
model with the objective of both holding to collect
contractual cash flows and selling.

• Subsequent Measurement

• Financial assets carried at amortised cost

A financial asset is subsequently measured at
amortised cost which is held with objective to
hold the asset in order to collect contractual
cash flows and the contractual terms 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.

• Financial assets at fair value through
other comprehensive income

A financial asset is subsequently measured at
fair value through other comprehensive income
which is held with objective to achieve both
collecting contractual cash flows and selling
financial assets and the contractual terms 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.

• Financial assets at fair value through
profit or loss

A financial asset which is not classified in any
of the above categories are subsequently fair
valued through profit or loss.

• Impairment of financial assets

The Company recognizes loss allowances
using the expected credit loss (ECL) model
for the financial assets which are not fair
valued through profit or loss. For impairment
purposes significant financial assets are tested
on an individual basis, other financial assets
are assessed collectively in groups that share
similar credit risk characteristics.

The Company recognises life-time expected
losses for all trade receivables. For all other
financial assets, expected credit losses are
measured at an amount equal to the 12 month
expected credit losses or at an amount equal
to the life time expected credit losses if the
credit risk on the financial asset has increased
significantly since initial ecognition. The amount
of expected credit losses (or reversal) that is
required to adjust the loss allowance at the
reporting date to the amount that is required

to be recognised is recognized as an impairment
gain or loss in statement of profit or loss.

The Company follows 'simplified approach' for
the recognition of impairment loss allowance
on trade and other receivables.

The application of simplified approach does
not require the Company to track changes in
credit risk. Rather, it recognises impairment
loss allowance based on life-time ECLs at each
reporting date, right from its initial recognition.

The Company uses a provision matrix to
determine impairment loss allowance on
portfolio of its trade receivables. The provision
matrix is based on its historically observed
default rates over the expected life of the
receivables and is adjusted for forward¬
looking estimates. At every reporting date,
the historical observed default rates are
updated and changes in the forward-looking
estimates are analysed.

(ii) Financial liabilities

• Initial Recognition and measurement

Financial liabilities are classified, at initial
recognition, as financial liabilities at fair value
through profit or loss, loans and borrowings,
payables, or as derivatives designated as hedging
instruments in an effective hedge, as appropriate.

All financial liabilities are recognised initially at
fair value and, in the case of loans and borrowings
and payables, net of directly attributable
transaction costs.

The Company's financial liabilities include trade
and other payables, loans and borrowings including
bank overdrafts, financial guarantee contracts and
derivative financial instruments.

• Subsequent measurement

For purposes of subsequent measurement, financial
liabilities are classified in two categories:

• Financial liabilities at fair value
through profit or loss

• Financial liabilities at amortised cost (loans
and borrowings)

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or
loss include financial liabilities held for trading
and financial liabilities designated upon initial
recognition as at fair value through profit or loss.

Financial liabilities at amortised cost (Loans and
borrowings)

This is the category most relevant to the Company.
After initial recognition, interest-bearing loans
and borrowings are subsequently measured at
amortised cost using the EIR method. Gains and
losses are recognised in statement of profit or loss
when the liabilities are derecognised as well as
through the EIR amortisation process.

Amortised cost is calculated by taking into account
any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The
EIR amortisation is included as finance costs in the
statement of profit and loss.

• Derecognition

The Company derecognizes a financial asset when
the contractual rights to the cash flows from the
financial asset expire or it transfers the financial
asset and the transfer qualifies for derecognitionas
per Ind AS 109. A financial liability (or a part of a
financial liability) is derecognized from the company's
balance sheet when the obligation specified in the
contract is discharged or cancelled or expires.

• Offsetting of financial instruments

Financial assets and financial liabilities are offset and
the net amount is reported in the balance sheet if
there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle
the liabilities simultaneously.

• Reclassification of financial assets

The Company determines classification of financial
assets and liabilities on initial recognition. After
initial recognition, no reclassification is made for
financial assets which are equity instruments and
financial liabilities. For financial assets which are debt
instruments, a reclassification is made only if there is
a change in the business model for managing those
assets. Changes to the business model are expected
to be infrequent. The company's senior management
determines change in the business model as a result
of external or internal changes which are significant
to the Company's operations. Such changes are

evident to external parties. A change in the business
model occurs when the company either begins or
ceases to perform an activity that is significant to
its operations. If the company reclassifies financial
assets, it applies the reclassification prospectively
from the reclassification date which is the first day
of the immediately next reporting period following
the change in business model. The company does
not restate any previously recognised gains, losses
(including impairment gains or losses) or interest.

• Investment in subsidiaries, joint
venture and associates

Investment in equity shares of subsidiaries, joint
venture and associates is carried at cost in the
financial statements.

(q) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise
cash at banks and on hand and short-term deposits
with an original maturity of three months or less, that
are readily convertible to a known amount of cash and
subject to an insignificant risk of changes in value.

(r) Cash flow statement

Cash flows are reported using the indirect method,
whereby profit for the period is adjusted for the effects
of transactions of a non-cash nature, any deferrals or
accruals of past or future operating cash receipts or
payments and item of income or expenses associated
with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the
Company are segregated

(s) Critical accounting estimates, assumptions and
judgements

The preparation of the Company's standalone financial
statements requires management to make judgements,
estimates and assumptions that affect the reported
amounts of revenues, expenses, assets and liabilities,
and the accompanying disclosures, and the disclosure
of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes that
require a material adjustment to the carrying amount of
assets or liabilities affected in future periods.

Other disclosures relating to Company's exposure to risk
and uncertainties includes;

Capital Management Note 39.

Financial risk management objective and policies Note 37.
Sensitivity analysis disclosures note 37.

Judgements

In the process of applying the Company's accounting
policies, management has made the following judgements,
which have the most significant effect on the amounts
recognised in the consolidated financial statements:

Determining the lease term of contracts with renewal
and termination options - Company as lessee

The Company determines the lease term as the non¬
cancellable term of the lease, together with any periods
covered by an option to extend the lease if it is reasonably
certain to be exercised, or any periods covered by an
option to terminate the lease, if it is reasonably certain
not to be exercised.

The Company has several lease contracts that include
extension and termination options. The Company applies
judgement in evaluating whether it is reasonably certain
whether or not to exercise the option to renew or
terminate the lease. That is, it considers all relevant factors
that create an economic incentive for it to exercise either
the renewal or termination. After the commencement
date, the Company reassesses the lease term if there
is a significant event or change in circumstances that
is within its control and affects its ability to exercise or
not to exercise the option to renew or to terminate (e.g.,
construction of significant leasehold improvements or
significant customisation to the leased asset).

Estimates and assmptions

The key assumptions concerning the future and other key
sources of estimation uncertainty at the reporting date,
that have a significant risk of causing a material adjustment
to the carrying amounts of assets and liabilities within the
next financial year, are described below. The Company
based its assumptions and estimates on parameters
available when the standalone financial statements
were prepared. Existing circumstances and assumptions
about future developments, however, may change due to
market changes or circumstances arising that are beyond
the control of the Company. Such changes are reflected in
the assumptions when they occur.

(i) Property, plant and equipment

External advisor and/or internal technical team
assesses the remaining useful life and residual value
of property, plant and equipment. Management
believes that the assigned useful lives and residual
values are reasonable.

(ii) Intangibles

Internal technical and user team assess the
remaining useful lives of Intangible assets.
Management believes that assigned useful lives are
reasonable.All Intangibles are carried at net book
value on transition.

(iii) Impairement of non-financial assets

Impairment exists when the carrying value of an
asset or cash generating unit exceeds its recoverable
amount, which is the higher of its fair value less costs
of disposal and its value in use. The fair value less
costs of disposal calculation is based on available
data from binding sales transactions, conducted
at arm's length, for similar assets or observable
market prices less incremental costs for disposing
of the asset. The value in use calculation is based on
a DCF model. The cash flows are derived from the
budget for the next five years and do not include
restructuring activities that the Company is not yet
committed to or significant future investments that
will enhance the asset's performance of the CGU
being tested. The recoverable amount is sensitive to
the discount rate used for the DCF model as well as
the expected future cash-inflows and the growth rate
used for extrapolation purposes. These estimates are
most relevant to goodwill and other intangibles with
indefinite useful lives recognised by the Company. The
key assumptions used to determine the recoverable
amount for the different CGUs, including a sensitivity
analysis, are disclosed in notes to accounts.

(iv) Share based payments

Estimating fair value for share-based payment
transactions requires determination of the most
appropriate valuation model, which is dependent on
the terms and conditions of the grant. This estimate
also requires determination of the most appropriate
inputs to the valuation model including the expected
life of the share option, volatility and dividend
yield and making assumptions about them. For the
measurement of the fair value of equity-settled
transactions with employees at the grant date. The
assumptions and models used for estimating fair
value for share-based payment transactions are
disclosed in Note 33.

(v) Defined benefit plans (gratuity benefits)

The cost of the defined benefit gratuity plan and
the present value of the gratuity obligation are
determined using actuarial valuations. An actuarial

increases and gratuity increases are based on
expected future inflation rates for the respective
countries. Further details about gratuity obligations
are given in Note 32.

(vi) Leases- Estimating the incremental borrowing rate

The Company cannot readily determine the interest
rate implicit in the lease, therefore, it uses its
incremental borrowing rate (IBR) to measure lease
liabilities. The IBR is the rate of interest that the
Company would have to pay to borrow over a similar
term, and with a similar security, the funds necessary
to obtain an asset of a similar value to the right-of-
use asset in a similar economic environment. The IBR
therefore reflects what the Company 'would have to
pay', which requires estimation when no observable
rates are available. The Company estimates the IBR
using observable inputs (such as market interest
rates) when available and is required to make certain
entity-specific estimates.

(i) During the year, Company has granted employee stock options to the employees of PG Technoplast Private Limited. Hence,
the Company has adopted equity accounting for the shares based expenses in respect of those employees amounted to
H 793.34 lakhs ( March 31, 2024: 594.07 lakhs), debited to investment in subsidiary.

(ii) During the year, Company has granted employee stock options to the employees of Next Generation Manufacturing Private
Limited . Hence, the Company has adopted equity accounting for the shares based expenses in respect of those employees
amounted to H 37.38 lakhs ( March 31,2024: Nil lakhs), debited to investment in Step down subsidiary.

(iii) During the year, Company has granted employee stock options to the employees of Goodwroth Electronics Private Limited .
Hence, the Company has adopted equity accounting for the shares based expenses in respect of those employees amounted
to H 61.59 lakhs ( March 31,2024: 6.28 lakhs), debited to investment in Joint venture.

(iv) During the year, the Company converted a portion of its outstanding loan into equity by investing H 72,999.94 lakhs towards
the allotment of 8,71,121 no of equity shares in its wholly owned subsidiary, PG Technoplast Private Limited. Further, the
Company invested H 575.55 lakhs for the subscription of 57,55,500 equity shares in its joint venture, Goodworth Electronics
Private Limited.

(v) During the year, the Company has converted 10,00,00,000 No of 7% non cumulative, optionally convertible preference shares
into 7% compulsorily convertible preference shares in equivalent to 119331 no of equity share of PG Technolplast Private
Limited (fixed number of shares). The accounting impact of this transaction has been duly considered in accordance with the
applicable Accounting Standards

13 SHARE CAPITAL (Contd..)

a face value of H 1 each. Considering this the equity shares of the company have been split/ sub-divided from 1(one)
Equity share of face value of H 10 each/- to 10 Equity shares of face value of H 1 each fully paid up ranking pari-passu
in all respects, with effect from the record date i.e. July 10, 2024

(b) Post split issue during the year, the Company on August 05, 2024 allotted 6,56,000 (Six Lakh Fifty-Six Thousand
only) Equity Shares of H 1/- each to the 'PG Electroplast Limited Employees Welfare Trust' under PG Electroplast
Employees Stock Options Scheme - 2020 in compliance with the SEBI (Share Based Employee Benefits and Sweat
Equity) Regulations, 2021.

1 (c) On December 10, 2024 issued and allotted 2,14,59,218 (Two Crore Fourteen Lakh Fifty-Nine Thousand Two Hundred

Eighteen only) Equity Shares, to the eligible Qualified Institutional Buyers (QIB) at the issue price of H 699/- per
Equity Share (including a premium of H 698/- per Equity Share, aggregating to H 1,49,999.93 Lakhs (Rupees One
Thousand Four Hundred Ninety-Nine Crore Ninety-Nine Lakh and Ninety-Three Thousand Three Hundred only),
pursuant to the Qualified Institutions Placement (QIP).

2. During the previous year, the Company on May 26, 2023 allotted 48,200 (Forty-Eight Thousand Two Hundred only)
Equity Shares of H 10/- each to 'PG Electroplast Limited Employees Welfare Trust' under the PG Electroplast Employees
Stock Options Scheme - 2020 in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity)
Regulations, 2021.

2 (a). During the previous year, the Company on August 22, 2023 allotted 28,700 (Twenty Eight Thousand Seven Hundred

Only) Equity Shares of H 10/- each to the 'PG Electroplast Limited Employees Welfare Trust' under PG Electroplast
Employees Stock Options Scheme - 2020 in compliance with the SEBI (Share Based Employee Benefits and Sweat
Equity) Regulations, 2021.

2 (b). During the previous year, the Company on September 02, 2023 issued and allotted 32,05,128 (Thirty Two Lakh

Five Thousand One Hundred Twenty Eight only) Equity Shares, to the eligible Qualified Institutional Buyers (QIB)
at the issue price of H 1,560/- per Equity Share (including a premium of H 1,550/- per Equity Share,, aggregating to
H 499,99.99 (Rupees Four Hundred Ninety-Nine Crore Ninety-Nine Lakh and Ninety-Nine Thousand Only), pursuant
to the Qualified Institutions Placement (QIP).

2 (c). During the previous year, the Company on January 02, 2024 allotted 1,600 (One Thousand Six Hundred Only) Equity

Shares of H 10/- each to the 'PG Electroplast Limited Employees Welfare Trust' under PG Electroplast Employees
Stock Options Scheme - 2020 in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity)
Regulations, 2021.

(d) Terms and rights attached to equity shares

The company has only one class of equity shares having a par value of H1 per share. Each shareholder is eligible for one vote
per share held. In the event of liquidation of the company, the equity shareholders are eligible to receive the remaining assets
of the company after distribution of all preferential amounts, in proportion to their shareholding.

iv) Performance Obligation

Sale of products: Performance obligation in respect of sale of goods is satisfied when control of the goods is transferred to
the customer, generally on dispatch of the goods and payment is generally due as per the terms of contract with customers.

Sales of services: The performance obligation in respect of services is satisfied over the period of time and acceptance of
the customer. Payment is generally due upon completion of service and acceptance of the customer.

v) Incentive under Electronic Policy 2016

The Company unit located at Supa, Taluka-Partner, MIDC district Ahemdnagar in Maharashtra is eligible for incentives under
the Electronic Policy-2016 of Maharashtra Government and have been availing incentives in the form of Gross SGST refund
for the period of January 2020 to October 2028 . The Company recognises income for such government grants based on
Gross SGST payable, having maximum ceiling of H 618.29 lakhs p.a. in accordance with the relevant notifications issued by the
State of Maharashtra.

The Company had already received an in principal approval for eligibility from the Government of Maharashtra in response
to the application filed by the Company for incentive under Electronic Policy-2016 on its investment for expansion for the
period from March 2017 to February 2021. Accordingly, the Company has recognised grant income amounting to H 618.29
lakhs for the year ended on 31st March 2025 . The cumulative amount receivable in respect of the same is H 2247.88 lakhs (
H1971.33 lakhs as at 31st March 2024).

32 EMPLOYEE BENEFIT PLANS:

A) Defined Contribution Plans:

The Company makes contribution in the form of provident funds as considered defined contribution plans and contribution
to Employees Providend Fund Orgnisation.The Company has no further payment obligations once the contributions have
been paid. Following are the schemes covered under defined contributions plans of the Company:

Provident Fund Plan & Employee Pension Scheme: The Company makes monthly contributions at prescribed rates
towards Employee Provident Fund and Employee Pension Scheme fund administered and managed by Ministry of Labour &
Employment, Government of India.

Employee State Insurance: The Company makes prescribed monthly contributions towards Employees State Insurance
Scheme and payment made to Employee State Insurance Corporation, Ministry of Labour & Employment, Government of India.

B) Defined Benefit Plans:

(i) The Company provides for gratuity obligations through a defined benefit retirement plan (the 'Gratuity Plan') covering
all company employees. The Gratuity Plan provides a lump sum payment to vested employees at retirement termination
of employment or death of an employee, based on the respective employees' salary and years of employment
with the Company.

(ii) Risk exposure

a) Risk to the beneficiary

The greatest risk to the beneficiary is that there are insufficient funds available to provide the promised benefits.
This may be due to:

• The insufficient funds set aside, i.e. underfunding

• The insolvency of the Employer

• The holding of investments which are not matched to the liabilities

• A combination of these events

b) Risk Parameter

Actuarial valuation is done basis some assumptions like salary inflation, discount rate and withdrawal assumptions.
In case the actual experience varies from the assumptions, fund may be insufficient to pay off the liabilities.

Similarly, reduction in discount rate in subsequent future years can increase the plan's liability. Further, actual
withdrawals may be lower or higher then what was assumptions the valuation, may also impact the plan's liability.

c) Risk of illiquid Assets

Another risk is that the funds, although sufficient, are not available when they are required to finance the benefits.
This may be due to assets being locked for longer period or in illiquid assets.

d) Risk of Benefit Change

There may be a risk that the benefit promised is changed or is changeable within the terms of the contract.

e) Asset liability mismatching risk

ALM risk arises due to a mismatch between assets and liabilities either due to liquidity or changes in interest rates
or due to different duration.

33 SHARE BASED PAYMENTS

During the year 2020-21, the Company has establised PG Electroplast Employee Stock Option Scheme 2020 "ESOP 2020” and
the same was approved at the general meeting of the Company held on 28th February 2021. The plan was set up so as to offer
and grant, for the benefit of employees of the Company, who are eligible under "Securities and Exchange Board of India” (SEBI)
(Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, option of the Company in one or more
tranches, and on such terms and conditions as may be fixed or determined by the board, in accordance with the law or guidelines
issued by the relevant authorities in this regard;

As per the plan, each option is exercisable for one equity share of face value of H 1/- each, at a price to be determined in accordance
with ESOP 2020. ESOP information is given for the number of shares. ( read with foot note vi )

ii) Fair valuation techniques

The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most
relevant data available. The fair values of the financial assets and liabilities are included at the amount that would be received
to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
The following methods and assumptions were used to estimate the fair values:

1) Fair value of cash and deposits, trade receivables, trade payables, and other current financial assets and liabilities
approximate their carrying amounts largely due to the short term maturities of these instruments.

2) Borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, credit
risk and other risk characteristics. Fair value of variable interest rate borrowings approximates their carrying values.

36 RELATED PARTY DISCLOSURE

Pursuant to compliance of Indian Accounting Standard (IND AS) 24 "Related Party Disclosures”, the relevant information is
provided here below:

C) Credit Risk

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in financial loss to the Company.
The Company is exposed to credit risk from its operating activities, primarily trade receivables. The credit risks in respect of
deposits with the banks, foreign exchange transactions and other financial instruments are only nominal.

The customer credit risk is managed subject to the Company's established policy, procedure and controls relating to
customer credit risk management. In order to contain the business risk, prior to acceptance of an order from a customer,
the creditworthiness of the customer is ensured through scrutiny of its financials, if required, market reports and reference
checks. The Company remains vigilant and regularly assesses the financial position of customers during execution of contracts
with a view to limit risks of delays and default. Further, in most of the cases, the Company normally allow credit period of
30-90 days to all customers which vary from customer to customer except mould & dies business. In case of mould & dies
business, advance payment is taken before start of execution of the order. In view of the industry practice and being in a
position to prescribe the desired commercial terms, credit risks from receivables are well contained on an overall basis.

The impairment analysis is performed on each reporting period on individual basis for major customers. Some trade receivables
are grouped and assessed for impairment collectively. The calculation is based on historical data of losses, current conditions
and forecasts and future economic conditions. The Company's maximum exposure to credit risk at the reporting date is the
carrying amount of each financial asset.

38 SEGMENT INFORMATION

Operating segment are defined as components of the Company about which separate financial information is available that is
evaluated regularly by the chief operating decision-maker, or decision- making company, in deciding how to allocate resources and
in assessing performance. The Company primarily operates in one business segment- Consumer Electronic Goods and Components.

40 CONTINGENCIES AND COMMITMENTS (Contd..)

(ii) Directorate of Revenue Intelligence (DRI) had conducted a search on the factory premises of the Company and the
residence of the Promoters on March 8, 2011. The Company has deposited H 145 lakhs as anti-dumping duty on import
of CPT during the period from May 2010 to December 2010, which is refunded later on. A show cause notice dated
May 29, 2015 has been issued on the Company and raised the demand of Anti-Dumping Duty worth H 738.54 lakhs
along with interest and penalty. The Principal Commissioner of custom has passed an order dated February 28, 2017,
confirming the demand of H 738.54 lakhs along with interest & penalty. The Company has filed an appeal before CESTAT,
Allahabad Bench on June 1,2017. The CESTAT vide its order dated June 18,2019 has allowed the appeal in favour of the
Company and refunded the deposited amount and set aside the order passed by Principal Commissioner of customs,
Noida. However, the Department has filed a Civil Appeal (No. 6544/2020) against the aforesaid Final order of CESTAT,
Allahabad dated June 18,2019. But till date no hearing was held at Hon'ble Supreme Court and no stay has been granted
to the Department.

(iii) Notice for Recovery: The Company received a Notice under the jurisdiction of West District, Tis Hazari Court, Delhi from
M/s Polyblends (India) Private Limited for recovery of outstanding amount of H43.71 lakhs with respect to purchase of
plastic raw material and plastic filled compounds.The authorised representative appeared on behalf of the Company
on May 20, 2022 before the Hon'ble Court. The Hon'ble Court directed the Company to file written statements. The
Company filed the written statements. The pleadings in this case were completed. After several hearings, the Hon'ble
Court vide order dated August 05, 2023 announced the judgement in favour of the Company and disposed the case. The
appellant aggrieved by the order filed an appeal to the Hon'ble Delhi Hight Court (RFA(COMM)252/2023). The matter
was last listed on January 20, 2025. The Hon'ble Court directed the parties to file written submission within the next 6
weeks. The next date of the hearing date is May 13, 2025.

(iv) Notice for Recovery: The Company received a Notice under the jurisdiction of West District, Tis Hazari Court, Delhi
from M/s Niyati Industries through Mr. Vijay Jain for recovery of outstanding amount of H 2.05 lakhs with respect to
job work of re-enforced (Polystyrene) of plastic raw materials. The authorised representative appeared on behalf of
the Company on May 12, 2022 before the Hon'ble Court and filed the written statements. Replication has been filed on
behalf of the plaintiff on July 23, 2022. The pleadings in this case were complete and issues were framed. After several
hearings, the Hon'ble Court vide order dated January 29, 2024 announced the judgement against the Company and
disposed the case. The Company aggrieved by the order filed an appeal to the Hon'ble District and Sessions Judge,
West, THC (RCA DJ/35/2024). The matter was last listed on January 13, 2025. The case is put up for final arguments on
April 16, 2025,the same is adjourn for July 17, 2025.

(v) Company has given corporate guarantee to banks for borrowings taken by its wholly owned subsidiary (i.e PG Technoplast
Private Limited), Step down subsidiary (i.e. Next Generation Manufacturing Electronocs Private Limited) and 50:50 Joint
Venture ( i.e.Goodworth Eletronics Private Limited)

48 A fire broke out on March 8, 2024 in warehouse at E-31,Site-B, UPSIDC, Surajpur Industrial Area, Greater Noida, UP of Unit-1
of Company, which has been taken on rent resulting in loss of finished goods and raw materials, of H 126.07 lakhs net off insurance
claim was received. Which has been recongnised in the statement of profit and loss in the current financial year.

49 Investment in Joint Venture:- The Company on July 13, 2023 entered into a 50-50 Joint Venture (JV) Agreement with Jaina
Group (Jaina Marketing & Associates (JMA), Jaina India Private Limited (Jaina India) and Goodworth Electronics Private Limited
(Goodworth)] to create a strong and competitive business that can meet the growing demand for high-quality televisions. Further
on September 28, 2024, pursuant to the JV Agreement, the Company acquired 57,55,500 (Five Thousand) Equity shares at face
value of H 10/- each of Goodworth Electronics Private Limited (JV Company).

50 Data Back Up:- As per the MCA notification dated August 5, 2022, the Central Government has notified the Companies
(Accounts) Fourth Amendment Rules, 2022. As per the amended rules, the Companies are required to maintain the back-up of the
books of account and other relevant books and papers in electronic mode that should be accessible in India at all the time. Also,
the Companies are required to create back-up of accounts on servers physically located in India on a daily basis.

The books of account along with other relevant records and papers of the Company are maintained in electronic mode. These are
readily accessible in India at all times and a back-up is maintained in servers situated in India and The Company and its officers have
full access to the data in the servers.

51 (i) Proposed Dividend:-The Board of Directors at its meeting held on May 12 , 2025 recommended payment of a final

dividend of H 0.25 per equity share of Re. 1 /- each ,subject to approval of its shareholders at the ensuing Annual General
Meeting.s,

(ii) During the year, the Company has paid final proposed dividend related with previous financial year of H 0.20/- per share
on fully paid-up equity share of H 1 each, amounting to H 523.27 Lakh

52 (a) Qualified Institutional Placement (QIP): On December 10 , 2024, the Company has approved the issue and allotment

of 2,14,59,218 fully paid-up equity shares of the Company to eligible Qualified Institutional Buyers in accordance with
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 at an issue price of H 699 per share (including
securities premium of H 698 per share) for a consideration of H 149,999.93 lakhs. The post allotment, paid-up Equity
Capital of the Company stands increased to H2830.94 lakh consisting of H2830.94 lakh Equity Shares of face value of
H1/- each.

Out of the above proceed, the Company utilized an amount of H 75,907.50 lakhs Net Proceeds after considering 1,914.98
lakh QIB Issue expenditure(net of GST input availed H 329.22 lakh) towards the objects of this issue till March 31, 2025
and unspent amount of H 71,848.23 lakh has been kept into liquid funds and FDR's.

(b) Qualified Institutional Placement (QIP) : During the year the Company has utilized an amount of H 4,378 lakhs &
cumulative utilization H 48,500 lakh out of the funds raised through Qualified Institutions Buyers ("the Issue 2024")
on 02 Sept 2023 of H 48,500 lakhs (Net Proceeds after considering 1500 lakh expected Issue expenditure) towards the
objects of the Issue made in the previous year.

53 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 Company.

iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

v) The Company is not a declared willful defaulter by any bank or financial Institution or other lender, in accordance with the
guidelines on willful defaulters issued by the Reserve Bank of India, during the year ended March 31,2025 and March 31 2024.

vi) 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, except as mentions below.

- The Company has given a loan to its wholly owned subsidiary, PG Technoplast Private Limited (PGTL or intermediary), out
of the proceeds received from the Qualified Institutional Placement (QIP). This loan was granted with the understanding
that PGTL would provide a loan to its own wholly owned subsidiary, Next Generation Manufacturing Private Limited

I M iilhimaho r\zarwari/-i a r\/\ Tno ro o\;anf r\ ic/-l r\c i i rza ie ac

vii) 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.

viii) The Company does not have any such 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.

ix) The Company has not entered into any scheme of arrangement which has an accounting impact on current year or previous year.

x) The Company has complied with the number of layers prescribed under the Companies Act, 2013

xi) The title deeds of all the immovable properties held by the Company (other than properties where the Company is a lessee
and the lease agreements are duly executed in favour of the lessee) are held in the name of the Company.

xii) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both
during the current or previous year.

xiii) The borrowings obtained by the Company from banks have been applied for the purposes for which such loans were taken.

(xiv) The Company has a widely used ERP as its accounting software for maintaining its books of account which has a feature of
recording audit trail (edit log) facility and that has operated throughout the year for all relevant transactions recorded in the
software. Further, the audit trail has been preserved by the Company as per the statutory requirements for record retention.
However, the database-level audit trail has not been preserved.

54 Previous year figures have been regrouped/reclassified wherever necessary to correspond with the current year's
classification/disclosure.

As per our report of even date attached For and on behalf of Board of Directors of

For S S Kothari Mehta & Co. LLP PG Electroplast Limited

Chartered Accountants

Firm Registration No. 000756N / N500441

AMIT GOEL Anurag Gupta Vikas Gupta

Partner Chairman & Managing Director

Membership No 500607 Executive Director Operations

DIN-00184361 DIN-00182241

Sanchay Dubey Pramod C Gupta

Place: Greater Noida, U.P. Company Secretary Chief Financial Officer

Dated: May 12,2025 ACS No:A51305 AEGPG3290L