2.16 Provisions and Contingencies

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a 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. When the Company expects some
or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised
as a separate asset, but only when the reimbursement is virtu lly certain.

The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement. If the
effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects,
when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to
the passage f time is re ognised as finance cos .

A provision for onerous contracts is recognised when the expected benefits to be derived by the Company from a
contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured
at the present value of the lower of the expected cost of terminating the contract and the expected net cost of
continuing with the contract. Before a provision is established, the Company recognises any impairment loss on the
assets assoc ted with th t contract.

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 standalone financial statements.

Provisions and contingent liability are reviewed at each balance sheet.

2.17 Borrowing costs

Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds
including interest expense calculated using the effective interest method, finance charges in respect of assets
acquired on finance lease. Borrowing cost also includes exchange differences to the extent regarded as an
adjustment to the borrowing costs.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes
a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset.
All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and
other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange
differences o the extent regarded as an adjustm nt to the borrowing costs.

2.18 Related party transactions

The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions.
Outstanding balances at the period-end are unsecured and settlement occurs in cash or credit as per the terms of
the arrangement. Impairment assessment is undertaken each financial year through examining the financial position
of the relat party and the market in which the slated party operates.

2.19 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

Initial recognition and measurement

All financial assets are recognized initially at fair value, plus in the case of financial assets not recorded at fair value
through profit or loss (FVTPL), transaction costs that are attributable to the acquisition of the financial asset.
However, trade receivab ss that do n t contain a significant fin jncing com nent are m sasured at transaction price.

Following are the categories of financial instrument:

a) Financial assets at amortised cost

b) Financial assets at fair value through other
comprehensive income (FVTOCI)

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

a) Financial assets at amortised cost

Financial assets are subsequently measured at amortised cost using the effective interest rate method if these
financial assets are held within a business whose objective is to hold these assets 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 principa l amount outstanding.

b) Financial assets at fair value through other
comprehensive income (FVTOCI)

Debt financial assets measured at FVOCI:

Debt instruments are subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by 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 out standing.

Equity Instruments designated at FVOCI:

On initial recognition, the Company makes 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 instruments,
other than equity investment which are held for trading. Subsequently, they are measured at fair value with gains
and losses arising from changes in fair value recognised in other comprehensive income and accumulated in the
‘Reserve for equity instruments through other comprehensive income’. The cumulative gain or loss is not reclassified
to profit or loss on dispos al of the investments.

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

Investments in equity instruments are classified as at FVTPL, unless the Company irrevocably elects on initial
recognition to present subsequent changes in fair value in other comprehensive income for investments in equity
instruments which are not held for trading. Other financial assets such as unquoted Mutual funds are measured at
fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive
income on in itial recognition.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised (he. removed from the Company’s bala ice sheet) when:

a) the rights to receive cash flows from the asset have expired, or

b) the Company has transferred its rights to receive cash flows from the asset, and

i. the Company has transferred substantially all the risks and rewards of the asset, or

ii. the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of t he asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the
asset, the Company continues to recognise the transferred asset to the extent of the Company’s continuing
involvement. In that case, the Company also recognises an associated liability. The transferred asset and the
associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.
Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of
the original carrying amount of the asset and the maximum amount of consideration that the Company could be
required to epay.

Impairment of financial assets

In accordance with Ind AS 109, the Company applies expected credit loss (‘ECL’) model for measurement and
recognition of impairme t loss on the following fi ancial asset and credit risk exposure:

a) Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, deposits, trade
receivables and bank balance

b) Financial assets that are debt instruments and are measured at FVTOCI.

c) Financial guarantee contracts which are not measured as at FVTPL.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on trade 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 lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether
there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased
significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly,
lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer
a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss
allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a
financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are
possible within 12 months after the reporting date.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract
and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR.
When estimating the cash flows, an entity is required to consider:

i) All contractual terms of the financial instrument (including prepayment, extension, call and similar options) over
the expected life of the financial instrument. However, in rare cases when the expected life of the financial
instrument cannot be estimated reliably, then the entity is required to use the remaining contractual term of the
financial instrument ii) Cash flows from the sale of collateral held or other credit enhancements that are integral
to the contractual terms

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the
Statement of Profit and Loss . This amount is reflected under the head ‘other expenses’ in the Statement of Profit
and Loss. In the balance sheet, ECL is presented as an allowance, i.e., as an integral part of the measurement of
those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off
criteria, the Company do ?s not reduce impairment allowance rom the gross carrying a ount.

Offsetting:

Financial assets and financial liabilities are offset and the net amount is reported in the standalone 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 simulta leously.

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. 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 trad and other ayables, loa s and borro ings.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities designated upon initial recognition
s at fair val e through ofit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at
the initial date of recognition and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL,
fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not
subsequently transferred to P&L. However, the Company may transfer the cumulative gain or loss within equity. All
other changes in fair value of such liability are recognised in the statement of profit or loss. The Company has not
designated y financial liability as a fair value through profit and loss.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at
the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL,
fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not
subsequently transferred to P&L. However, the Group may transfer the cumulative gain or loss within equity. All
other changes in fair value of such liability are recognised in the statement of profit or loss.

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 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.
This ca egory gene lly applies o borrowing .

De-recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms, or
the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de¬
recognition of the original liability and the recognition of a new liability. The difference in the respective carrying
amounts is recognised in the statement of profit and loss.

Financial guarantee contracts issued by the Company are those contracts that require a payment to be made to
reimburse the holder for a loss it incurs because the specified debtor fails to make a payment when due in accordance
with the terms of a debt instrument. Financial guarantee contracts are recognised initially as a liability at fair value,
adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequently, the
liability is measured at the higher of the amount of loss allowance determined as per impairment requirements of
Ind AS 09 and the amount reco >nised less c jmulative amortisation.

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 recognis d gains, loss ?s (includin impairment gains or losses) or interest.

2.20 Share Based Payments

Employees of the Company receive remuneration in the form of share-based payments, whereby employees render
services as consideration for equity instruments.

Equity-settled transactions

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using
Black S choles valuation model.

That cost is recognised, together with a corresponding increase in share-based payment 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 statement of profit and loss expense or credit 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.

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

2.21 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) before exceptional 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. 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

2.22 Inventories

Inventories are stated at the lower of cost and net realizable value. The cost of inventories comprises of all costs
of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and
condition. Costs of inventories are computed using weighted average cost formula. Net realizable value is the
estimated selling price in the ordinary course of business less any applicable selling expenses. Provision for
obsolescence and slow moving inventory is made based on management’s best estimates of net realizable value of
such inventories.

2.23 Investment in subsidiaries, joint ventures and associates

In accordance with Ind AS 27 - Separate Financial Statements, investments in equity instruments of subsidiaries,
joint ventures and associates can be measured at cost or at fair value in accordance with Ind AS 109. The Company
has opted to measure such investments at cost at initial recognition.Subsequently, such investments in
subsidiaries,joint ventures and associates are carried at cost less accumulated impairment losses, if any. Where an
indication of impairment exists, the carrying amount of the investment is assessed and written down immediately
to its recoverable amount. On disposal of these investments, the difference between net disposal proceeds and the
carrying amounts are recognized in the statement of profit and loss

Terms/ rights attached to equity shares

The Company has only one class of equity shares having par value of INR 1 per share. Each holder of equity shares is
entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except in case of interim dividend.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of
the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.

The Company has not issued any equity shares (March 31, 2024: 7,60,500) to employees on exercise of option granted
under the Employee Stock Option Scheme 2021, wherein part consideration was received in form of employee services.

Equity shares allotted as fully paid-up pursuant to conversion of warrants

The Company issued and allotted 38288453 equity warrant on 01.02.2024. Out of the issue of 38288453 Equity Warrets,
during the year 2024-25 15444862 convertible Equity warrants at an issue price of INR 26.00 (Rupees Twenty Six Only)
each convertible into, or exchangeable for, 1 (One) fully paid-up equity share of the Company of face value of INR 01.00
(Rupee One Only) each and All the warrants were converted into Equity shares and the company Allotted 1,54,44,862
Equity shares of the face value of INR 01.00 (Rupee One Only) each fully paid up at an issue price of INR 26.00 (Rupees
Twenty Six Only) per Equity share by way preferential issue in accordance with the provisions of the Companies Act,
2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Nature and purpose of reserve:

Capital reserve

Represents capital reserve balances of acquired entities which are transferred to the Company upon merger.

General Reserve

General reserve is free reserve available for distribution as recommended by Board in accordance with requirements of
the Companies Act, 2013. Mandatory transfer to general reserve is not required under the Companies Act, 2013.

Equity Share Premium Account

Securities premium is used to record the premium on issue of shares and can be utilised in accordance with the provisions
of the Companies Act, 2013. The amount received in excess of face value of the equity shares is recognised in securities
premium.

Share based payment reserve

The fair value of the equity-settled share based payment transactions with employees is recognised in statement of
profit and loss with corresponding credit to Share based payments reserve. This will be utilised for allotment of equity
shares against outstanding employee
stock options.

Retained earnings

Retained earnings is a free reserve. This is the accumulated profit earned by the Company till date, less transfer to
general reserve, dividend and other distributions made to the shareholders.

Other comprehensive income (OCI)

The Company has elected to recognize changes in the fair value of certain investments in equity securities in other
comprehensive income. These changes are accumulated within the FVOCI reserve within equity. The Company transfers
amounts from this reserve to retained earnings when the relevant equity securities are derecognized

31 Segment Information

The Company is primarily engaged in the business of trading of commodities and providing information technology
related services. However, these activities are not subject to separate review by the Chief Operating Decision Maker
(CODM) for the purpose of resource allocation and performance assessment. Further, the quantitative thresholds
prescribed under Ind AS 108 “Operating Segments” are not met. Accordingly, the Company’s operations are considered
to constitute a single reportable segment in accordance with Ind AS 108.

34 Earnings per share ['EPS']

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted
average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders (after adjusting for interest on
the convertible debentures) by the weighted average number of Equity shares outstanding during the year plus the
weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares
into Equity Shares.

The following table reflects the income and share data used in the basic and diluted EPS computations:

Notes:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can
access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within level 1 that are observable for the asset or liability,
either directly or indirectly.

Level 3 inputs are unobservable inputs for the asset or liability.

There have been no transfers between the levels during the period.

Financial instruments carried at amortised cost such as trade receivables, other financial assets, borrowings, trade
payables and other financial liabilities are considered to be same as their fair values, due to short term nature.

Investments valued at fair value through profit and loss are classified as level 3 fair values in the fair value hierarchy
due to the inclusion of unobservable inputs including counterparty credit risk.

For financial assets & liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

The management assessed that cash and cash equivalents, trade receivables, trade payables and other current liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments. Further, the
management has assessed that fair value of borrowings approximate their carrying amounts largely since they are carried
at floating rate of interest.

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged
in a current transaction between willing parties, other than in a forced or liquidation sale.

39 Financial risk management objectives and policies
Financial risk management framework

The Company’s principal financial liabilities include borrowings, trade payables, and other payables, which are primarily
used to finance and support its operational activities. Its principal financial assets comprise trade receivables, other
receivables, cash and cash equivalents, and other bank balances, all of which arise directly from its operations.

The Company is exposed to credit risk, liquidity risk, and market risk, including fluctuations in foreign currency exchange
rates and interest rates, which may adversely affect the fair value of its financial instruments. To mitigate these risks,
the Company monitors the financial environment continuously and implements risk management strategies in line with
its established policies and objectives.

Senior management is responsible for overseeing financial risk management, advising on risk strategy, and ensuring that
risks are identified, assessed, and managed effectively within an appropriate governance framework. The Board of
Directors reviews and approves the Company’s financial risk management policies on a periodic basis.

Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of
creditworthiness

as well as concentration of risks. Credit risk is controlled by analysing credit limits and creditworthiness of customers
on a

continuous basis to whom the credit has been granted after obtaining necessary approvals for credit. The Company is
exposed to credit risk from its operating activities (primarily trade receivables) and from its investing activities (short
term bank deposits). The Company only deals with parties which has good credit rating / worthiness given by external
rating agencies or based on companies internal assessment.

Financial instruments that are subject to concentrations of credit risk principally consist of trade receivables,
investments, cash and cash equivalents, bank deposits and other financial assets. None of the financial instruments of
the Company result in material concentration of credit risk.

Exposure to credit risk

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk
was INR 13,401.38 lakhs (March 31, 2024- INR 9,145.51 lakhs) being the total of the carrying amount of Cash and cash
equivalents, bank deposits, trade receivables, investments and other financial assets.

Trade receivables

IND AS requires expected credit losses to be measured through a loss allowance. The Company assesses at each date of
statements of financial position whether a financial asset or a group of financial assets is impaired. The Company
recognises lifetime expected losses for all contract assets and / or all trade receivables that do not constitute a financing
transaction. 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 recognition.

The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables
based on ageing which are receivables for more than six months.

Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign
currency exchange rates, interest rates, credit, liquidity and other market changes. Financial instruments affected
by market risk include loans, borrowings and security deposits. Market risk comprises two types of risk:

Interest rate risk - Interest rate risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of change in market interest rates. In order to optimise the Company’s position with regards
to interest income and interest expenses and to manage the interest rate risk, treasury performs a comprehensive
corporate interest risk management by balancing the proportion of fixed rate and floating rate financial instruments
in its total portfolio.

Foreign currency exchange rate risk - The fluctuation in foreign currency exchange rates may have potential
impact on the statement of profit or loss and other comprehensive income and equity, where any transaction
references more than one currency or where assets / liabilities are denominated in a currency other than the
functional currency of the respective entities. Considering the countries and economic environment in which the
Company operates, its operations are subject to risks arising from fluctuations in exchange rates in those countries.
The risks primarily relate to fluctuations in US Dollar against the functional currencies of the Company.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

The Company’s equity investments are mainly strategic in nature and are generally held on a long term basis.
Further, the investments are not exposed to significant price risk.

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises two types of risk: interest rate risk and other price risk, such as
equity price risk and commodity risk. Financial instruments affected by market risk include loans, borrowings and
security deposits.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

The Company’s equity investments are mainly strategic in nature and are generally held on a long term basis.
Further, the investments are not exposed to significant price risk.

Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligation. The objective of liquidity
risk management is to maintain sufficient liquidity and ensured that funds are available for use as per requirements.
The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserves borrowing
facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of
financial assets and liabilities.

Exposure to liquidity risk

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

40. Capital management

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium and all
other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital
management is to maximise the shareholder value.

The Company manages its capital structure in consideration to the changes in economic conditions and the requirements
of the

financial covenants. The Company monitors capital using a gearing ratio, which is net debt divided by total equity. The
Company includes within net debt, borrowings including interest accrued on borrowings less cash and short-term
deposits.

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure
that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure
requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and
borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the
current year.

No changes were made in the objectives, policies or processes for managing capital during the year ended March 31,

2025.

41. Share Based Payments

The Company has Employee Stock Options Scheme i.e. ESOP - 2021 under which options have been granted at exercise price
vested from time to time.

The Scheme was approved at the 11th Annual General Meeting held on September 24, 2021.

i) Details related to ESOPs:

43 Significant event after the
reporting period

There was no significant adjusting event that accrued subsequent to the reporting period which may require an
adjustment to the balance sheet.

44 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 under Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

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.

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 do not have any transactions with Crypto Currency or Virtual Currency where the Company has
traded or invested in Crypto Currency or Virtual Currency during the financial year.

v) The Company has not been declared wilful defaulter by any bank or financial institution or government or any
government authority.

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

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 doesn’t 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.

45 Prior year comparatives

The figures of the previous year have been regrouped/reclassified, where necessary, to conform with the current
year's classification.

As per our report of even date
attached

For Gorantla & Co. For and on behalf of the Board of Directors of

Chartered Accountants Spacenet Enterprises India Limited

ICAI Firm Registration Number: 016943S CIN: L72200TG2010PLC068624

Sri Ranga Gorantla

Partner

Membership No.: 222450
UDIN:25222450BMIVER5079

Sethurathnam Vasudevarao Maraka

Ravi Whole-time Director

Chairman & Non DIN: 05111313

Executive

Director

DIN: 00009790

Dasigi Venkata Surya Prakash Rao Monish Jaiswal

Director & Chief Financial Officer Company Secretary

DIN: 03013165 Membership No.: A71187

Place: Hyderabad Place: Hyderabad

Date: May 30, 2025 Date: May 30, 2025