2.3 Provisions

A provision is recognized if, as a result of a past event, the Company has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the effect of the time value of
money is material, provisions are determined by discounting the expected future cash flows at a
pre-tax rate that reflects current market assessments of the time value of money and the risks
specific to the liability. Where discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

2.4 Contingent liabilities & contingent assets

A disclosure for a contingent liability is made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources. Where there is a
possible obligation or a present obligation in respect of which the likelihood of outflow of
resources is remote, no provision or disclosure is made.

Contingent assets are not recognized in the financial statements. However, contingent assets are
assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the
asset and related income are recognized in the period in which the change occurs.

2.5 Financial instruments
Initial recognition

The Company recognizes financial assets and financial liabilities when it becomes a party to the
contractual provisions of the instrument. All financial assets and liabilities are recognized at fair
value on initial recognition, except for trade receivables which are initially measured at
transaction price. Transaction costs that are directly attributable to the acquisition or issues of
financial assets and financial liabilities that are not at fair value through profit or loss, are added
to the fair value on initial recognition.

Subsequent measurement

• Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive
income if it is held with a business model whose objective is achieved by 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. Further in cases where the
Company had made an irrevocable election based on its business model, for its
investments which are classified as equity instruments, the subsequent changes in fair
value are recognized in other comprehensive income.

• Financial liabilities

Financial liabilities are subsequently carried at amortized cost using the effective interest
method. For trade and other payables maturing within one year from the Balance Sheet
date, the carrying amounts approximate fair value due to short maturity of these
instruments.

2.6 Critical accounting judgements and key sources of estimation uncertainty :

In the application of the Company’s accounting policies, which are described in note 3, the
management 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 recognized 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 the revision affects
both current and future periods.

The following are the areas of estimation uncertainty and critical judgementsthat the
management has made in the process of applying the Company’s accounting policies and that
have the most significant effect on the amounts recognized in the financial statements:

Provision and contingent liability

On an ongoing basis, Company reviews pending cases, claims by third parties and other
contingencies. For contingent losses that are considered probable, an estimated loss is recorded

as an accrual in financial statements. Loss Contingencies that are considered possible are not
provided for but disclosed as Contingent liabilities in the financial statements. Contingencies the
likelihood of which is remote are not disclosed in the financial statements. Gain contingencies are
not recognized until the contingency has been resolved and amounts are received or receivable.

23. Earnings per share

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 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.

26. Based on the information available with the Company, Nil due to supplier who are
registered as micro, small or medium enterprises under “The Micro, Small and Medium
Enterprises Development Act, 2006” as at March 31, 2024.

27. Balances due to or due from the parties are subject to confirmation

28. 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 transaction with companies struck off.

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 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.

vi. The Company has not been declared willful defaulter by any bank or financial institution
or government or any government authority.

vii. The Company has not 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.

As per our report of even date For Sriven Multi-tech Limited

For VASG & ASSOCIATES
Chartered Accountants
Firm Registration No.006070S

Sd/- Sd/-

Sd/- V S Lalita V V Subrahmanyam

G.S.Sridhar (Whole Time Director) (Director)

Partner DIN : 01029534 DIN : 01029479

Membership No. 026878
UDIN: 24026878BKCXGW4046

Place: Hyderabad
Date: May 30, 2024