1.10 Provisions for Liabilities and Charges, Contingent Liabilities and Assets:

The assessments undertaken in recognising provisions and contingencies have been made in
accordance with the applicable lnd AS. Provisions represent liabilities to the Company for which
the amount or timing is uncertain. Provisions are recognized when the Company has a present
obligation (legal or constructive), as a result of past events, and it is probable that an outflow of
resources, that can be reliably estimated, will be required to settle such an obligation. a.
Contingent Liabilities are determined on the basis of available information and are disclosed by
way of a note to the accounts. Contingent assets are not recognised but disclosed in the financial
statements when an inflow of economic benefits is probable.

1.11 Foreign Currency Transactions:

For the purpose of Standalone Financial Statements, Ajel Limited (USA Branch) was treated as
Integral foreign operation in accordance with the IND AS 21 -"Effects of Changes in Foreign
Exchange Rates" and transactions in foreign currency for the items of income and expenses are
recorded at the Average rate of exchange for the period. All the Assets and Liabilities were
recorded at the Closing rate of exchange. Exchange differences arising there from is transferred
to Foreign Currency gain or loss and transferred to Profit and Loss Account.

1.12 Earnings Per Share:

The Company presents basic and diluted earnings per share (EPS') data for its equity shares.
Basic EPS is calculated by dividing the profit and loss attributable to equity shareholders of the
Company by the weighted average number of equity shares outstanding during the period.
Diluted EPS is determined by adjusting the profit and loss attributable to equity shareholders and
the weighted average number of equity shares outstanding for the effects of all dilutive potential
equity shares.

1.13 Cash Flow Statement:

Cash flows are reported using indirect method as set out in lnd AS -7 "Statement of Cash Flows",
whereby profit/foss before tax is adjusted for the effects of transactions of non-cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are segregated based on the
available information.

2 NOTES TO ACCOUNTS:

2.01 Property, Plant and Equipment

The Management of the Company feels that the above payments are reasonable compared to
the Market conditions.

2.28 Intangible Assets:

Amounts directly attributable to project expenses during the financial year ended 31.03.2025 have
been considered as an Intangible Asset under development owing to the Memorandum of
Understanding entered into between the Company and Transcord Telscape Private Limited dated

15.10.2022.

2.29 Earnings Per Share:

Basic EPS after comprehensive income Rs. (1.1 7)

Diluted EPS after comprehensive income Rs. (1.1 7)

2.30 Taxes on Income:

Considering that the company has continuing losses, there does not arise the need to pay income
tax.

2.31 Statutory Liabilities:

There were a few undisputed amounts payable in respect of Goods and Service Tax, Provident
Fund, Tax Deducted at source, Income Tax and any other material statutory dues as at 31st March
2024 for period of more than six months from the date they become payable the details are as
follows:

2.32 Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognised for liabilities that can be measured only by using a substantial degree
of estimation, if the Company has a present obligation as a result of past event, a probable outflow
of resource is expected to settle the obligation and the amount of obligation can be really
estimated. Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance
sheet Date.

2.33 Previous year figures have been regrouped and rearranged wherever found necessary, to be in
confirmative with current year grouping and classification.

2.34 In the opinion of the Board of Directors, the current assets, and loans and advances have the value
on realization at least equal to the amount at which they are stated at the Balance Sheet and
provision for all known and determined liabilities is adequate and not in excess of amount
reasonably required.

2.35 The Standalone Financial Statements majorly consists of the revenue and other financial items that

have been booked at the AJEL Limited branch office ('Branch') in United States of America ( 'USA').
The financial statements of the Branch in United States of America ('USA') are unaudited, however
confirmed by the management of the company for the year 2024-25.

2.36 During the year 2023-24 has been sanctioned with a loan amounting to Rs.5 crore (Rs.1 crore
being for working capital under MSME categorization and Rs.4 crore being loan repayable on
demand) where during the year 2024-25, the company has failed to repay the loan instalments
due to which the loan account has been declared as Non-performing Asset ('NPA') as on 08th
October, 2024. However, the management of the company is desirous and making substantial
efforts to improve and sustain the business with a view to clear off the outstanding liability and run
the business operations with bonafide and confident intent.

2.37 During the year ended 31 March 2025, the Management undertook a detailed review of its
accounting policies and observed that Land has been depreciated in previous financial statements
due to oversight. As a consequence, the Land has been incorrectly measured at the depreciated
carrying value instead of the original historical cost. Due to this error, the Land as at 1 April 2023
was understated by INR 36.37 lakhs, whereas Deferred tax was overstated by INR 55.82 lakhs
and retained earnings (Considering the impact of deferred tax) as at 1 April 2023 was understated
by INR 92.1 9 lakhs. The error also impacted the profit for the year ended 31 March 2024 which
was understated by INR 4.77 lakhs (Being net effect on profit due depreciation and deferred tax)
and due to error (understated) in closing value of investments, the profit for the said period was
understated by INR 0.53 lakhs. The Land as at 31 March 2024 was understated by INR 42.71
lakhs whereas Deferred tax was overstated by INR 54.24 lakhs, investment is understed by INR
0.53 lakhs and retained earnings (Considering the impact of deferred tax) as at 31 March 2024
were understated by INR 97.48 lakhs each.

2.38 Paises are rounded off to the nearest rupee (In Lakhs).

As per our report of even date,

for ^{G M K} & ^C°. for & on behalf of the Board,

Chartered Accountants, M/s Ajel Limited

Firm Registration No. S200357

Sd/-

Sd/- SRINIVASA REDDY ARIKATLA,

GOTTIPALLI RAJDEEP LAWRENCE Managing Director.

Partner.

M.No. 242206

UDIN:25242206BMILQW7722

Sd/-

Place : Hyderabad, HARSHANA ANTHARAJI,

Date : 05.09.2025. Wholetime Director & CFO.

(DIN:07466984)