2.18 Contingent liabilities, Contingent Assets and
Provisions

Provisions are recognized when the Company
has a present obligation (legal/ constructive)
as a result of past event, it is probable that
the Company will be required to settle the
obligation, and a reliable estimate can be made
of the amount of the obligation.

The amount recognised as a provision is the
best estimate of the consideration required
to settle the present obligation at the end
of the reporting period, taking into account
the risks and uncertainties surrounding the
obligation. When a provision is measured
using the cash flows estimated to settle the
present obligation, its carrying amount is the
present value of those cash flows (when the
effect of the time value of money is material).
When some or all of the economic benefits
required to settle a provision are expected to
be recovered from a third party, a receivable is
recognised as an asset if it is virtually certain that
reimbursement will be received and the amount
of receivable can be measured reliably.

Contingent liability is disclosed for (i) Possible
obligations which will be confirmed only by
future events not wholly within the control of
the Company or (ii) Present obligations arising
from past events where it is not probable that an
outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of
the obligation cannot be made.

Contingent assets are not recognized in the
standalone financial statements since this may
result in the recognition of income that may
never be realized.

2.19 Segment Reporting

Operating segments reflect the Company’s
management structure and the way the
financial information is regularly reviewed by
the Company’s Chief operating decision maker
(CODM). The CODM considers the business

from both business and product perspective
based on the dominant source, nature of risks
and returns and the internal organisation and
management structure. The operating segments
are the segments for which separate financial
information is available and for which operating
profit / (loss) amounts are evaluated regularly
by the executive Management in deciding
how to allocate resources and in assessing
performance.

The accounting policies adopted for segment
reporting are in line with the accounting policies
of the Company. Segment revenue, segment
expenses, segment assets and segment
liabilities have been identified to segments on
the basis of their relationship to the operating
activities of the segment.

Inter-segment revenue, where applicable, is
accounted on the basis of transactions which
are primarily determined based on market / fair
value factors.

Revenue, expenses, assets and liabilities which
relate to the Company as a whole and are not
allocable to segments on reasonable basis have
been included under “unallocated revenue /
expenses / assets / liabilities”.

2.20 Goods and Service Tax Input Credit

Goods and service tax input credit is accounted
for in the books during the period when the
underlying service received is accounted and
when there is no uncertainty in availing / utilizing
the credits.

2.21 Insurance Claims

Insurance claims are accrued for on the basis of
claims admitted / expected to be admitted and
to the extent there is no uncertainty in receiving
the claims.

2.22 Dividend

The Company recognises a liability to make
cash distributions to equity holders of the
Company when the distribution is authorised
and the distribution is no longer at the discretion
of the Company. Final dividends on shares are
recorded as a liability on the date of approval
by the shareholders and interim dividends are
recorded as a liability on the date of declaration
by the Company’s Board of Directors.

2.23 Operating Cycle

Based on the nature of products / activities of
the Company and the normal time between
acquisition of assets and their realisation in
cash or cash equivalents, the Company has
determined its operating cycle as 12 months for
the purpose of classification of its assets and
liabilities as current and non-current.

Critical accounting judgements and key sources
of estimation uncertainty

In the application of the Company’s accounting
policies, which are described in note 2, the
directors of the Company are required to make
judgements, estimates and assumptions about
the carrying amounts of assets and liabilities
that are not readily apparent from other sources.
The estimates and associated assumptions are
based on historical experience and other factors
that are considered to be relevant. Actual results
may differ from these estimates.

The estimates and underlying assumptions
are reviewed on an ongoing basis. Revisions
to accounting estimates are recognised in the
period in which the estimate is revised if the
revision affects only that period, or in the period
of the revision and future periods if revision
affects both current and future periods.

The following are the significant areas of
estimation, uncertainty and critical judgements
in applying accounting policies:

• Useful lives of Property, plant and
equipment and intangible assets

• Evaluation of Impairment indicators and
assessment of recoverable value

• Provision for taxation

• Provision for disputed matters

• Allowance for Expected Credit Loss

• Fair value of financial assets and liabilities

• Assets and obligations relating to employee
benefits

Determination of functional and presentation
currency:

Items included in the financial statements of the
Company are measured using the currency of
the primary economic environment in which the
Company operates (i.e. the “functional currency”).
The financial statements are presented in Indian
Rupees ('), the national currency of India, which
is the functional currency of the Company. All
the financial information have been presented
in Indian Rupees except for share data and as
otherwise stated.

9.1 Credit period and risk

The average credit period for the services rendered:

(a) Trade receivables (Domestic) are non-interest bearing and are generally on terms ranging from 07 days to 90 days.
(31 March 2025: Ranging from 30 days to 90 days)

(b) Trade receivables (International) are non-interest bearing and are generally on terms ranging from 07 days to 60
days. (31 March 2025: Ranging from 30 days to 180 days)

Of the trade receivable balance as at 31 March, 2026, ' Nil Lakhs are due from customer i.e. having more than 10% of the
total outstanding trade receivable balances. [' 1,673 Lakhs are due from two customer i.e. having more than 10% of the
total outstanding trade receivable balances as at 31 March 2025]

No trade receivable are due from directors or other officers of the Company either severally or jointly with any other
person. Nor are any trade receivable due from firms or private companies respectively in which any director is a partner,
a director or a member.

9.2 Expected credit loss allowance

The Company has used a practical expedient by computing the expected loss allowance for trade receivables based
on provision matrix. The provision matrix takes into account the historical credit loss experience and adjustments for
forward looking information.

Based on the assessment of the Company, there is no risk associated with the dues from the related parties both
from a credit risk or time value of money as these are managed through the company's cash management process
and can be recovered on demand by the Company. Accordingly, no provisions has been considered necessary.
With regard to other parties, the company had, based on past experience, wherein collections are done within a year of
it being due and expectation in the future Credit loss, has made necessary provisions.

c) Rights, preferences and restrictions attached to equity shares

The Company has issued only one class of equity shares having a face value of Rs.10 per share. Each holder of equity
shares is entitled to one vote per share. The dividend proposed by the Board of Directors, if any, is subject to the approval
of the shareholders in the ensuing Annual General Meeting, except interim dividend, which can be approved by the
Board of Directors. In the event of liquidation, the holders of equity shares will be entitled to receive remaining assets of
the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of
equity shares held by the shareholders.

d) There were no shares issued pursuant to contract without payment being received in cash, allotted as fully paid up by
way of bonus issues or brought back during the last five years immediately preceding 31 March 2026.

Notes:

13.1: Amounts received on issue of shares in excess of the par value has been classified as securities premium, net of utilisation.

13.2: Capital reserve comprises initial application money on warrants received, forfeited subsequently and reserve arising on
business combination.

13.3: This represents appropriation of profit by the Company.

13.4: Retained earnings comprises of the amounts that can be distributed by the Company as dividends to its equity
shareholders.

13.5: Cash flow hedging reserve comprises of the effecting portion of changes in the fair value of the derivative designated as cash
flow hedging instrument is recognised in Other compressive income and accumulated in the cash flow hedging reserve.

Unbilled Revenue primarily relate to the company's rights to consideration for work completed but not billed at the reporting
date. Unbilled Revenue are transferred to receivables when the rights become unconditional.

(iii) Remaining performance obligations

The remaining performance obligation disclosure provides the amount of the transaction price yet to be recognized as
at the end of the reporting period and an explanation as to when the Company expects to recognize these amounts in
revenue. Applying the practical expedient as given in Ind AS 115, the Company has not disclosed the value of remaining
performance obligations for (i) contracts with an original expected duration of one year or less and (ii) contracts for which
the Company recognises revenue at the amount to which it has the right to invoice for services performed (typically those
contracts where invoicing is on time and material basis).

(i) The Company accounts for costs incurred by / on behalf of the Related Parties based on the actual invoices / debit notes raised and
accruals as confirmed by such related parties. The Related Parties have confirmed to the Management that as at 31 March 2026 and 31
March 2025, there are no further amounts payable to / receivable from them, other than as disclosed above. The Company incurs certain
costs on behalf of other companies in the group. These costs have been allocated/recovered from the group companies on a basis
mutually agreed to with the group companies.

(ii) Remuneration and other benefits pertain to short term employee benefits. As the gratuity and compensated absences are determined for
all the employees in aggregate, the post-employment benefits and other long-term benefits relating to key management personnel cannot
be ascertained individually.

(iii) The remuneration payable to key management personnel is determined by the nomination and remuneration committee having regard to
the performance of individuals and market trends.

(iv) All transactions with these related parties are priced at arm's length basis. The amounts outstanding are unsecured and will be settled in
cash. There have been no instances of amounts due to or due from related parties that have been written back or written off or otherwise
provided for during the year.

29. Contingent liabilities and commitments

(a) Contingent liabilities

Claims against the company not acknowledged as debt

(i) Direct tax matters

Income Tax - ' 266 Lakhs (31 March 2025 : ' 266 Lakhs)

The Company has filed appeals before the relevant authorities as on the date of financials statements. Based on
management's assessment, the Company is confident no amounts will be payable by the Company in this regard
and expects that the outcome of the proposed appeal to be made will be favourable to the Company.

(ii) Indirect tax matters

GST - ' 1,852 Lakhs (31 March 2025 : ' Nil)

During the current year, the Company has received an amended order dated 21 January 2026 with a demand
of ' 1,852 Lakhs. In this regard, subsequent to the year ended 31 March 2026, the Company has filed an appeal
dated 20 April 2026 before the appropriate appellate authority. Based on legal advice and internal assessment,
management believes that the Company has a strong case on merits. Accordingly, no provision has been made in
the books of account for the disputed amount, and the same has been disclosed as a contingent liability.

(ii) Other matters

In January 2008, the Company had received a demand from the Tamil Nadu Generation and Distribution
Corporation Limited (“TANGEDCO”) for an amount of ' 109 lakhs towards differential amount of charges arising
from reclassification on the tariff category applicable to the Company with retrospective effect from June 2005
till June 2007. The Company had filed a writ with Hon'ble High Court of Madras seeking relief from the demand.
During the previous year, the Hon'ble High Court of Madras vide its order dated 12 January 2022 directed the
Company to approach the Electricity Regulatory Commission to get the grievances settled and instructed the
Commission to conclude the plea in line with applicable provisions laid down by the Commission in this regard.
While the procedural approach as directed by the Hon'ble High Court was in progress, the company received
demand notices from the TANGEDCO towards this disputed claim of ' 109 Lakh for the above cited period and
additional demand for the period from July 2007 to July 2010 amounting to ' 112 Lakhs along with Belated Payment
Surcharge (“BPSC”) on the principal amounts pertaining to the period June 2005 to July 2010 and was demanded
to be settled within the stipulated time frame, failure to which the supply of electricity was threatened to be
disconnected. The Company proposed to pay the dues in instalments under protest and simultaneously proceed
with the legal resolutions in the manner directed by the Hon'ble Madras High Court. The Company made provision
towards principal charges of ' 221 Lakhs. The BPSC amounting to ' 457 lakh has been considered by the Company
as contingent liability. Based on management assessment and professional advice received by the management,
Company is confident that the demand raised will not be payable by the company and expects that the outcome
of the appeal is yet to be made will be favourable to the Company.

*Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information
collected by the Management.

31. Employee Benefits
a) Defined Contribution plans

The Company makes Provident and Pension Fund contributions, which is a defined contribution plan, for qualifying
employees. Additionally, the Company also provides, for covered employees, health insurance through the Employee
State Insurance scheme. Under the Schemes, the Company is required to contribute a specified percentage of the
payroll costs to fund the benefits. The contributions payable to these plans by the Company are at rates specified in the
rules of the schemes.

b) Defined Benefit Plans:

The Company offers ‘Gratuity' (Refer Note 21 Employees Benefits Expense) as a post employment benefit for qualifying
employees and operates a gratuity plan. The benefit payable is calculated as per the Payment of Gratuity Act, 1972
and the benefit vests upon completion of five years of continuous service and once vested it is payable to employees
on retirement or on termination of employment. In case of death while in service, the gratuity is payable irrespective of
vesting. The Company's obligation towards its gratuity liability is a defined benefit plan.

Description of Risk Exposures

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which
may vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit which are as
follows:

A) Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result
in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of
the liability (as shown in financial statements).

B) Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any
particular investment.

C) Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary
increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants
from the rate of increase in salary used to determine the present value of obligation will have a bearing on the
plan's liability.

D) Demographic Risk : The Company has used certain mortality and attrition assumptions in valuation of the liability.
The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

E) Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts.This may arise
due to non availabilty of enough cash/cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.

In respect of the plan, the most recent actuarial valuation of the present value of the defined benefit obligation
were carried out as at 31 March 2026. The present value of the defined benefit obligation, and the related current
service cost and paid service cost, were measured using the projected unit cost credit method.

a. Ta. The estimates of rate of escalation in salary considered in actuarial valuation takes into account inflation, seniority,
promotion and other relevant factors including supply and demand in the employment market.

b. The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date
for the estimated term of the obligations.

c. Attrition rate considered is the management's estimate based on the past trend of employee turnover in the Company.
Sensitivity analysis

The significant actuarial assumptions for the determination of the defined benefit obligation are the attrition rate, discount
rate and the long-term rate of compensation increase. The calculation of the net defined benefit liability is sensitive to these
assumptions. It is assumed that the active members of the scheme will experience in service mortality in accordance with
the Indian Assured Lives Mortality (2012-14) Ultimate Table. The following table summarises the effects of changes in these
actuarial assumptions on the defined benefit liability.

32. Exceptional items

32(a) Sale of Labour Law Compliance (LLC) Division and Transfer of certain customer contracts pertaining to payroll
compliance business

On 06 February 2024, the Board of Directors of the Company approved the sale of its Labour Law Compliance (LLC)
division on a going concern basis by way of slump sale, subject to closing adjustments as defined in Business Transfer
Agreement (BTA) dated 06 February 2024. The Company has completed the sale of its LLC division on 30 April 2024 for
a net sales consideration of ' 2,211 Lakhs with net assets transferred aggregating to ' 417 Lakhs.

The gain of Rs. 1,708 Lakhs (net of expenditure incurred wholly and exclusively in connection with this sale of
' 86 Lakhs) is presented under exceptional item for year ended 31 March 2025. Further, during the previous year ended
31 March 2025, the company has made a provision of ' 80 Lakhs towards indemnification of liability arising on account
of non-collection of trade receivables and unbilled revenue as at 31 March 2025 in accordance with the said BTA.

The Company had transferred certain customer contracts pertaining to payroll compliance business to the buyer to whom
the LLC business was transferred during the previous year ended 31 March 2025, pursuant to the request of those
customers in order to avail all their statutory compliance services with one service provider. The Company had entered
into an agreement agreeing the terms and conditions associated with such transfer of contracts along with the purchase
consideration. Accordingly the gain on such transfer of ' 61 Lakhs was been disclosed under exceptional item during the
year ended 31 March 2025.

32(b) Changes to Employee Benefits upon notification of Labour Codes

On 21 November 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations
Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code,
2020, (‘Labour Codes') which consolidate twenty-nine existing labour laws into a unified framework governing employee
benefits during employment and postemployment. The Labour Codes, amongst other things introduces changes,
including a uniform definition of wages and enhanced benefits relating to leave.

The Company has assessed the financial implications of these changes which has resulted in increase in gratuity liability
and provision for compensated absences by Rs. 781 Lakhs during year ended 31 March 2026. Considering the impact
is material and arising out of an enactment of the new legislation is an event of non-recurring nature which is regulatory
driven, the Company has presented this incremental impact of Labour Codes under “Exceptional Item” in the Statement
of Profit and Loss for the year ended 31 March 2026. The Company continues to monitor the developments pertaining
to Labour Codes and will evaluate impact if any on the measurement of liability pertaining to employee benefits.

Investment in subsidiaries carried at cost is not appearing as financial asset in the table above being investment in subsidiaries
and associates accounted under Ind AS 27, Separate Financial Statements and is hence scoped out under Ind AS 109.

The management assessed that fair value of cash and cash equivalents, trade receivables, loans, borrowings, trade payables
and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of
these instruments

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.

The following methods and assumptions were used to estimate the fair value/amortized cost

1) Long-term fixed-rate receivables/borrowings are evaluated by the Company based on parameters such as interest rates,
specific country risk factors, individual losses and creditworthiness of the receivables

2) The fair value of unquoted instruments, loans from banks and other financial liabilities, as well as other non-current financial
liabilities are estimated by discounting future cash flows using rates currently available for debt on similar terms, credit
risk and remaining maturities. In addition to being sensitive to a reasonably possible change in the forecast cash flows or
discount rate, the fair value of the unquoted instruments is also sensitive to a reasonably possible change in the growth
rates. The valuation requires management to use unobservable inputs in the model, of which the significant unobservable
inputs are disclosed in the tables below. Management regularly assesses a range of reasonably possible alternatives for
those significant unobservable inputs and determines their impact on the total fair value.

Fair Value Hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

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

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

There were no items of financial assets or financial liabilities which were valued at fair value as of 31 March 2026 and
31 March 2025.

34.3 Financial Risk Management Framework

The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Company manages financial risk relating to the operations through internal risk reports
which analyse exposure by degree and magnitude of risk.

The Company's activities expose it to a variety of financial risks: liquidity risk, credit risk and market risk (including interest
rate risk and other price risk). The Company's primary risk management focus is to minimize potential adverse effects
of market risk on its financial performance. The Company's risk management assessment and policies and processes
are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and
to monitor risks and compliance with the same. Risk assessment and management policies and processes are reviewed
regularly to reflect changes in market conditions and the Company's activities. The Board of Directors and the Audit
Committee is responsible for overseeing the Company's risk assessment and management policies and processes.

(a) Liquidity Risk Management :

Liquidity risk refers to the risk that the Company cannot meet its financial obligations as they become due. The Company
manages its liquidity risk by ensuring as far as possible, that it will always have sufficient liquidity to meet its liabilities
when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the Company's
reputation.

Liquidity and Interest Risk Tables :

To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curves at the end of
the reporting period The contractual maturity is based on the earliest date on which the Company may be required to pay.

(b) Credit Risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of
creditworthiness as well as concentration of risks. Financial instruments that are subject to concentrations of credit risk
principally consist of trade receivables, cash and cash equivalents, bank deposits and other financial assets. None of

the other financial instruments of the Company result in material concentration of credit risk. 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 carrying amount of the financial assets recorded in these financial statements, grossed up for any allowance for
losses, represents the maximum exposures to credit risk.

Trade receivables: The Company's exposure to credit risk is influenced mainly by the individual characteristics of each
customer. The demographics of the customer, including the default risk of the industry and credit history, also has an
influence on credit risk assessment.

Credit risk on current investments, cash & cash equivalent and derivatives is limited as the Company generally transacts
with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies.
Investments primarily include investment in fixed deposits.

(c) Market Risk :

Market risk is the risk of loss of any future earnings, in realizable fair values or in future cash flows that may result from
adverse changes in market rates and prices (such as interest rates and foreign currency exchange rates) or in the price of
market risk sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is attributable
to all market risk-sensitive financial instruments, all foreign currency receivables and payables and all short-term and long¬
term debt. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk and
the market value of its investments. Thus, the Company's exposure to market risk is a function of investing and borrowing
activities and revenue generating and operating activities in foreign currencies.

(c.1) 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 changes
in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the
Company's debt obligations with floating interest rates.

The Company's management monitors the interest fluctuations, if any, and accordingly, take necessary steps to mitigate
any interest rate risk.

Interest rate sensitivity analysis

The Company is debt free as at 31 March 2026 and 31 March 2025 and hence the Company is not exposed to changes in
market interest rates.

(c.2) Foreign Currency Risk Management :

The Company undertakes transactions denominated in foreign currencies and consequently, exposures to exchange rate
fluctuations arises.

Foreign Currency sensitivity analysis:

The following table details the Company's sensitivity to a 10% increase and decrease in ' against the relevant foreign
currencies. 10% is the rate used in order to determine the sensitivity analysis considering the past trends and expectation of
the management for changes in the foreign currency exchange rate. The sensitivity analysis includes the outstanding foreign
currency denominated monetary items and adjusts their translation at the period end for a 10% change in foreign currency
rates. A positive number below indicates a increase in profit / decrease in loss and increase in equity where the ' strengthens
10% against the relevant currency. For a 10% weakening of the ' against the relevant currency, there would be a comparable
impact on the profit or loss and equity and balance below would be negative.

Derivative financial instruments and hedging activity :

The Company's revenue is denominated in various foreign currencies. Given the nature of the business, a large portion
of the costs are denominated in Indian Rupee. This exposes the Company to currency fluctuations on collections.

The Board of Directors has risk management plan of the Company which inter-alia covers risks arising out of exposure to
foreign currency fluctuations. Under the guidance and framework provided by the board, the Company uses derivative
instruments such as foreign exchange forward contracts in which the counter party is generally a bank.

Sensitivity analysis

In respect the Company's forward exchange contracts, a 10% increase/decrease in the exchange rates of the currency
underlying such contracts would have resuted in: an approximately (' 807 Lakhs) / ' 807 Lakhs increase/(decrease) in the
Company's other comprehensive income as at 31 March 2026. (31 March 2025: Nil)

34.4 Fair value of financial assets and financial liabilities that are not measured at fair value (but fair value disclosures are
required)

The Management considers that the carrying amount of financial assets and financial liabilities recognized in the financial
statements approximate their fair values.

34.5 Offsetting of financial assets and financial liabilities

The Company has not offset financial assets and financial liabilities.

There have been no transfers between Level 1 and Level 2 for the year ended 31 March 2026 and 31 March 2025.
Measurement of fair value of financial instruments

Valuation techniques are selected based on the characteristics of each instrument, with the overall objective of
maximising the use of market-based information. The finance team reports directly to the chief financial officer (CFO) and
to the audit committee. Valuation processes and fair value changes are discussed among the audit committee and the
valuation team at least every year, in line with the Company's reporting dates.

The valuation techniques used for instruments categorised in Levels 1, 2 and 3 are described below:

Investments in mutual fund units (Level 1)

The Mutual funds are valued using the closing NAV
Foreign exchange forward contracts (Level 2)

The Company's foreign currency forward contracts are not traded in active markets. These have been fair valued using
observable forward exchange rates and interest rates corresponding to the maturity of the contract. The effects of non¬
observable inputs are not significant for foreign currency forward contracts.

Investments in equity instruments of other companies (Level 3)

These investments are not traded in active markets, and management considers the cost of investments to approximate
the fair value.

Financial instruments measured at amortised cost for which the fair value is disclosed

The carrying amount of all financial instruments measured at amortised cost are considered to be a reasonable
approximation of the fair value.

Fair value measurement of non-financial assets

There are no non-financial assets that were measured at fair value on the reporting dates.

36. Capital management policies and procedures

The Company's objective for capital management is to maximise shareholder value, safeguard business continuity and
support the growth of the Company. The Company determines the capital requirement based on annual operating plans
and long-term and other strategic investment plans. The funding requirements are met through equity and operating
cash flows generated. The Company is not subject to any externally imposed capital requirements.

37. Dividend

During the current year, the Company declared and paid out Interim Dividend I of ' 30 per equity share (300% of per
value of ' 10 each) pursuant to the approval of the Board of Directors, at their meeting. held on 30 July 2025. Further,
Interim Dividend II of ' 30 per equity share (300% of per value of ' 10 each) was also declared pursuant to the approval
of the Board of Directors, at their meeting held on 27 January, 2026.

During the previous year, the Company declared and paid out Interim Dividend of ' 30 per equity share (300% of par
value of ' 10 each) pursuant to the approval of the Board of Directors, at their meeting held on 24 October 2024 and Final
dividend 2023-24 of ' 15 per equity share (150% of par value of ' 10 each) pursuant to the approval of the Shareholders,
at their meeting held on 02 August 2024.

39. Audit Trail and Backup of Accounting records

1. The Company has used accounting softwares for maintaining its books of account for the financial year ended 31
March 2026, which have a feature for recording an audit trail (edit log) facility and the audit trail facility has been
operating throughout the year for all relevant transactions recorded in the software, except that:

(i) In respect of one accounting software used by the Company from 01 April 2025 to 31 December 2025 audit
trail feature was not enabled at certain tables and database level to log any direct changes till 26 June 2025.

(ii) In respect of one accounting software used by the Company from 12 November 2025 to 31 March 2026 for
maintaining books of accounts in respect of payroll process, audit trail was not enabled.

Further, during the year, there is no instance of the audit trail feature being tampered with, and the audit trail,
wherever enabled, has been preserved as per the statutory requirements for record retention.

2. As per the MCA notification dated August 05, 2022, the Central Government has notified the Companies (Accounts)
Fourth Amendment Rules, 2022. As per the amended rules, Companies are required to maintain back-up of the
‘books of account and other relevant books and papers' (‘books of account') in electronic mode that should be
accessible in India at all times. Also, the Companies are required to create backup of accounts on servers physically
located in India on a daily basis.

The books of account of the Company are maintained in electronic mode on servers physically located in India and
are readily accessible in India at all times. The Company is maintaining backup of books of account on a daily basis,
except for one application where the Company has maintained the backup on weekly basis.

40. Other Disclosures

(a) The Company does not have any transaction not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the income tax assessments under the provisions of Income Tax Act, 1961.

(b) The Company neither has any immovable property nor any title deeds of Immovable Property not held in the name
of the Company.

(c) The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

(d) The Company does not have any charges or satisfaction yet to be registered with ROC beyond the statutory period,
as at the year ended 31 March 2026 and 31 March 2025.

(e) During the year, the Company has not revalued any of its Property, Plant and Equipment, Right of Use Asset and
Intangible Assets.

(f) The Company does not have any investment properties as at 31 March 2026 and 31 March 2025 as defined in Ind
AS 40.

(g) As at 31 March 2026, the Company has two wholly owned subsidiaries (Refer Note 1) and the Company complies
with clause (87) of Section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers)
Rules, 2017.

(h) The Company has not advanced or loaned or invested funds to any person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

(i) 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

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

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.

(i) The Company has not granted any loans or advance in the nature of loans to promoters, directors, Key Managerial
Personnel and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other
person.

(j) No proceedings have been initiated during the year or are pending against the Company as at 31 March 2026 and 31
March 2025 for holding any benami property under Benami Property Transactions (Prohibition) Act, 1988 and Rules
made thereunder.

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

41. Approval of Financial Statements

In connection with the preparation of the standalone financial statements for the year ended 31 March 2026, the Board
of Directors have confirmed the propriety of the contracts / agreements entered into by / on behalf of the Company
and the resultant revenue earned / expenses incurred arising out of the same after reviewing the levels of authorisation
and the available documentary evidences and the overall control environment. Further, the Board of Directors have
also reviewed the realizable value of all the current assets of the Company and have confirmed that the value of such
assets in the ordinary course of business will not be less than the value at which these are recognised in the standalone
financial statements. In addition, the Board has also confirmed the carrying value of the non-current assets in the financial
statements. The Board, duly taking into account all the relevant disclosures made, has approved these standalone
financial statements in its meeting held on 07 May 2026 in accordance with the provisions of Companies Act, 2013.