8. Provisions and contingent liabilities and
Contingent Assets

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 refects
current market assessments of the time value of money and
the risks specific to the liability. When discounting is used,
the increase in the provision due to the passage of time is
recognized as a finance costs.

The amount recognized as a provision is the best estimate of
the consideration required to settle the present obligation
at reporting date, taking into account the risks and
uncertainties surrounding the obligation.

When some or all of the economic benefits required to settle
a provision are expected to be recovered from a third party,
the receivable is recognized as an asset if it is virtually certain
that reimbursement will be received and the amount of the
receivable can be measured reliably. The expense relating to
a provision is presented in the statement of profit and loss
net of any reimbursement.

Contingent liabilities are possible obligations that arise from
past events and whose existence will only be confirmed by
the occurrence or non-occurrence of one or more future
events not wholly within the control of the Company. Where
it is not probable that an outflow of economic benefits will
be required, or the amount cannot be estimated reliably, the
obligation is disclosed as a contingent liability, unless the
probability of outflow of economic benefits is remote.
Contingent liabilities are disclosed on the basis of judgment
of the management/independent experts. These are
reviewed at each balance sheet date and are adjusted to
refect the current management estimate.

Contingent assets are possible assets that arise from past
events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company.
Contingent assets are disclosed in the financial statements
when inflow of economic benefits is probable on the basis
of judgment of management. These are assessed
continually to ensure that developments are appropriately
refected in the financial statements.

9. Foreign currency transactions and translation

Transactions in foreign currencies are initially recorded
at the functional currency spot rates at the date the
transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign
currencies are translated at the functional currency
spot rates of exchange at the reporting date. Exchange
differences arising on settlement or translation of
monetary items are recognized in profit or loss in the
year in which it arises.

Non-monetary items are measured in terms of
historical cost in a foreign currency are translated using
the exchange rate at the date of the transaction.

10. Revenue recognition

The Company derives revenues primarily from sale of
goods

Revenue is recognized on satisfaction of performance
obligation upon transfer of control of promised
products or services to customers in an amount that
reflects the consideration the Company expects to
receive in exchange for those products or services.

The Company does not expect to have any contracts
where the period between the transfer of the promised
goods or services to the customer and payment by the
customer exceeds one year. As a consequence, it does
not adjust any of the transaction prices for the time
value of money.

Revenue from EPC Contracts is recognized based on
the stage of completion with reference to the costs
incurred on contracts and their estimated total costs.
Provision for foreseeable losses/construction
contingencies on turnkey contracts is made on the
basis of technical assessments of costs to be incurred
and revenue to be accounted for.

Other income

Interest income is recognized, when no significant
uncertainty as to measurability or collectability exists,
on a time proportion basis taking into account the
amount outstanding and the applicable interest rate,
using the effective interest rate method (EIR).

When calculating the EIR, the Company estimates the
expected cash flows by considering all the contractual
terms of the financial instrument (for example,
prepayment, extension, call and similar options) but
does not consider the expected credit losses. Interest
income is included in other income in the statement of
profit and loss.

11. Employee benefits

11.1 Short-term employee benefits

Short-term employee benefit obligations are measured on
an undiscounted basis and are expensed as the related
service is provided.

A liability is recognized for the amount expected to be paid
under performance related pay if the Company has a present
legal or constructive obligation to pay this amount as a
result of past service provided by the employee and the
obligation can be estimated reliably.

11.2 Post-Employment benefits

Employee benefit that are payable after the completion of
employment are Post-Employment Benefit (other than
termination benefit). These are of two types:

11.2.1 Defined contribution plans

Defined contribution plans are those plans in which an
entity pays fixed contribution into separate entities and will
have no legal or constructive obligation to pay further
amounts. Provident Fund and Employee State Insurance are
Defined Contribution Plans in which the company pays a
fixed contribution and will have no further obligation.

11.2.2 Defined benefit plans

A defined benefit plan is a post-employment benefit plan
other than a defined contribution plan.

Company pays Gratuity as per provisions of the Gratuity Act,
1972. The Company's net obligation in respect of defined
benefit plans is calculated separately for each plan by
estimating the amount of future benefit that employees
have earned in return for their service in the current and
prior periods; that benefit is discounted to determine its
present value. Any unrecognized past service costs and the
fair value of any plan assets are deducted. The discount rate
is based on the prevailing market yields of Indian
government securities as at the reporting date that have
maturity dates approximating the terms of the Company's
obligations and that are denominated in the same currency
in which the benefits are expected to be paid. The
calculation is performed annually by a qualified actuary
using the projected unit credit method. When the
calculation results in a liability to the company, the present
value of liability is recognized as provision for employee
benefit. Any actuarial gains or losses are recognized in Other
Comprehensive Income ("OCI") in the period in which they
arise.

12. Income tax

Tax expense comprises current tax and deferred tax. Current
tax expense is recognized in the statement of profit or loss
except to the extent that it relates to items recognized
directly in other comprehensive income or equity, in which

case it is recognized in OCI or equity. Current tax is the
expected tax payable on the taxable income for the
year, using tax rates enacted or substantively enacted
and as applicable at the reporting date, and any
adjustment to tax payable in respect of previous years.
Current taxes are recognized under 'Income tax
payable' net of payments on account, or under 'Tax
receivables' where there is a debit balance.

Deferred tax is recognized using the balance sheet
method, providing for temporary differences between
the carrying amounts of assets and liabilities for
financial reporting purposes and the amounts used for
taxation purposes. Deferred tax is measured at the tax
rates that are expected to be applied to temporary
differences when they reverse, based on the laws that
have been enacted or substantively enacted by the
reporting date. Deferred tax assets and liabilities are
offset if there is a legally enforceable right to offset
current tax liabilities and assets, and they relate to
income taxes levied by the same tax authority on the
same taxable entity, or on different tax entities, but
they intend to settle current tax liabilities and assets on
a net basis or their tax assets and liabilities will be
realized simultaneously.

Deferred tax is recognized in the statement of profit or
loss except to the extent that it relates to items
recognized directly in OCI or equity, in which case it is
recognized in OCI or equity. A deferred tax asset is
recognized to the extent that it is probable that future
taxable profits will be available against which the
temporary difference can be utilized. Deferred tax
assets are reviewed at each reporting date and are
reduced to the extent that it is no longer probable that
the related tax benefit will be realized. Additional
income taxes that arise from the distribution of
dividends are recognized at the same time that the
liability to pay the related dividend is recognized.

13.Leases

13.1 As Lessor

Leases for which the Company is a lessor is classified as
a finance or operating lease. Whenever the terms of the
lease transfer substantially all the risks and rewards of
ownership to the lessee, the contract is classified as a
finance lease. All other leases are classified as operating
leases. For operating leases, rental income is
recognized on a straight-line basis over the term of the
relevant lease

13.2 As Lessee

The Company's lease asset classes primarily consist of
leases for buildings. The Company assesses whether a
contract contains a lease at the inception of a contract. A
contract is, or contains, a lease if the contract conveys
the right to control the use of an identified asset for a

An impairment loss is recognized if the carrying
amount of an asset or its CGU exceeds its estimated
recoverable amount. Impairment losses are recognized
in profit or loss. Impairment losses recognized in
respect of CGUs are reduced from the carrying
amounts of the assets of the CGU.

Impairment losses recognized in prior periods are
assessed at each reporting date for any indications that
the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change
in the estimates used to determine the recoverable
amount. An impairment loss is reversed only to the
extent that the asset's carrying amount does not
exceed the carrying amount that would have been
determined, net of depreciation or amortization, if no
impairment loss had been recognized.

15. Dividends

Dividends and interim dividends payable to a
Company's shareholders are recognized as changes in
equity in the period in which they are approved by the
shareholders' meeting and the Board of Directors
respectively.

16. Earnings per share

Basic earnings per equity share is computed by dividing
the net profit or loss attributable to equity shareholders
of the Company by the weighted average number of
equity shares outstanding during the financial year.

Diluted earnings per equity share is computed by dividing
the net profit or loss attributable to equity shareholders
of the Company by the weighted average number of
equity shares considered for deriving basic earnings per
equity share and also the weighted average number of
equity shares that could have been issued upon
conversion of all dilutive potential equity shares.

17. Statement of Cash Flows

Cash flow statement is prepared in accordance with the
indirect method prescribed in Ind AS 7 'Statement of
Cash Flows' for operating activities.

18. Financial instruments

Financial assets and financial liabilities are recognized
when the Company becomes a party to the contractual
provisions of the instruments.

Financial assets and financial liabilities are initially
measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets
and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss
("FVTPL")) are added to or deducted from the fair value of

the financial assets or financial liabilities, as appropriate, on
initial recognition. Transaction costs directly attributable to
the acquisition of financial assets or financial liabilities at fair
value through profit or loss are recognized immediately in
statement of profit and loss.

19.1 Financial assets

On initial recognition, a financial asset is recognized at fair
value. All recognized financial assets are subsequently
measured in their entirety at either amortized cost or fair
value through profit or loss (FVTPL) or fair value through
other comprehensive income (FVOCI) depending on the
classification of the financial assets.

Financial assets are not reclassified subsequent to their
recognition, except if and in the period the Company changes
its business model for managing financial assets.

Trade Receivables and Loans:

Trade receivables are initially recognized at fair value.
Subsequently, these assets are held at amortized cost, using
the effective interest rate (EIR) method net of any expected
credit losses. The EIR is the rate that discounts estimated
future cash income through the expected life of financial
instrument.

Derecognition

The Company derecognises a financial asset when the
contractual rights to the cash flows from the financial asset
expire, or it transfers the contractual rights to receive the
cash flows from the asset.

Impairment of financial assets

Expected credit losses are recognized for all financial assets
subsequent to initial recognition other than financials assets
in FVTPL category.

ECL is the weighted-average of difference between all
contractual cash flows that are due to the Company in
accordance with the contract and all the cash flows that the
Company expects to receive, discounted at the original
effective interest rate, with the respective risks of default
occurring as the weights. When estimating the cash flows, the
Company is required to consider:

a) All contractual terms of the financial assets (including
prepayment and extension) over the expected life of the
assets.

b) Cash flows from the sale of collateral held or other credit
enhancements that are integral to the contractual terms.

In respect of trade receivables, the Company applies the
simplified approach of Ind AS 109, which requires
measurement of loss allowance at an amount equal to lifetime
expected credit losses. Lifetime expected credit losses are the
expected credit losses that result from all possible default
events over the expected life of a financial instrument.

For financial assets other than trade receivables, as per
Ind AS 109, the Company recognises 12 month expected
credit losses for all originated or acquired financial assets
if at the reporting date the credit risk of the financial asset
has not increased significantly since its initial
recognition. The expected credit losses are measured as
lifetime expected credit losses if the credit risk on
financial asset increases significantly since its initial
recognition. The Company assumes that the credit risk
on a financial asset has not increased significantly since
initial recognition if the financial asset is determined to
have low credit risk at the balance sheet date.

19.2 Financial liabilities and equity instruments
Classification as equity

Equity instruments issued by the Company are classified as
either financial liabilities or as equity in accordance with
the substance of the contractual arrangements and the
definitions of a financial liability and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a
residual interest in the assets of an entity after
deducting all of its liabilities. Equity instruments issued
by the Company are recognized at the proceeds
received, net of direct issue costs.

Repurchase of the Company's own equity instruments
is recognized and deducted directly in equity. No gain
or loss is recognized in statement of profit and loss on
the purchase, sale, issue or cancellation of the
Company's own equity instruments.

Financial liabilities

Financial liabilities are recognized when the Company
becomes a party to the contractual provisions of the
instrument. Financial liabilities are initially measured at
the amortised cost unless at initial recognition, they are
classified as fair value through profit or loss. In case of
trade payables, they are initially recognized at fair
value and subsequently, these liabilities are held at
amortised cost, using the effective interest method. All
financial liabilities are subsequently measured at
amortized cost using the effective interest method.

Financial liabilities carried at fair value through profit
or loss are measured at fair value with all changes in fair
value recognized in the Statement of Profit and Loss.
Interest expense are included in the 'Finance costs' line
item. The effective interest method is a method of
calculating the amortized cost of a financial liability
and of allocating interest expense over the relevant
period.

The effective interest rate is the rate that exactly
discounts estimated future cash payments (including

all fees and points paid or received that form an integral part
of the effective interest rate, transaction costs and other
premiums or discounts) through the expected life of the
financial liability, or (where appropriate) a shorter period, to
the net carrying amount on initial recognition.

Derecognition of financial liabilities

The Company derecognises financial liabilities when, and
only when, the Company's obligations are discharged,
cancelled or have expired.

Derivative financial instruments

The Company uses forwards to mitigate the risk of changes
in interest rates, exchange rates and commodity prices. Such
derivative financial instruments are initially recognized at
fair value on the date on which a derivative contract is
entered into and are also subsequently measured at fair
value. Derivatives are carried as financial assets when the fair
value is positive and as financial liabilities when the fair value
is negative. Any gains or losses arising from changes in the
fair value of derivatives are taken directly to Statement of
Profit and Loss.

20 Segment Reporting

The main business of the Company is of manufacturing and
sales of Cables & Conductors. All other activities of the
Company revolve around the main business. There is only
one reportable segment. Hence, disclosures pursuant to Ind
AS 108 - Operating Segments are not applicable.

21 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.

D) Recent accounting pronouncements

Ministry of Corporate Affairs ("MCA") notifies new
standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued
from time to time. For the year ended March 31,2025, MCA
has not notified any new standards or amendments to the
existing standards applicable to the Company.

E) Major Estimates made in preparing Financial
Statements

1. Useful life of property, plant and equipment and
intangible assets

The estimated useful life of property, plant and equipment is
based on a number of factors including the effects of
obsolescence, demand, competition and other economic
factors (such as the stability of the industry and known
technological advances) and the level of maintenance

3. Provisions and contingencies

The assessments undertaken in recognizing provisions and
contingencies have been made in accordance with Ind AS
37, 'Provisions, Contingent Liabilities and Contingent
Assets'. The evaluation of the likelihood of the contingent
events has required best judgment by management
regarding the probability of exposure to potential loss.
Should circumstances change following unforeseeable
developments, this likelihood could alter.

4. Allowance for credit losses on receivables

The Company determines the allowance for credit losses
based on historical loss experience adjusted to refect
current and estimated future economic conditions. The
Company considered current and anticipated future
economic conditions relating to industries the Company
deals with and the countries where it operates. In
calculating expected credit loss, the Company has also
considered credit reports and other related credit
information for its customers to estimate the probability of
default in future.

Note No 21.1

(A) Nature of Security

(a) All the above credit facilities are repayable on demand.

(b) Rate of interest : Cash credit (0.75 % above 1 year MCLR SP), Packing credit (Applicable ROI), Trade Credit (Tenure based
SOFR 50 BPS to 110 BPS)

Note No 21.2

All the Credit facilities from Bank of Baroda is secured through First charge by way of Hypothecation on entire current assets of
the company, both present and future and further secured by:

a) Equitable mortgage of Factory Land & Building at F-260, Road No. 13 VKIA, Jaipur, in the name of the Company.

b) Equitable mortgage of Factory Land & Building situated at H-581 (A) to H-592 (A) at Road No 06, VKIA Jaipur, in the name of
the Company.

c) Equitable mortgage of Factory Land at Plot No. SP 636 (A), Road No. 06, VKIA, Jaipur, in the name of the Company.

d) Equitable mortgage of Factory Land at Plot No. SP 636 (A-1), Road No. 06, VKIA, Jaipur, in the name of the Company.

e) Equitable mortgage of Factory Land & Building at F-259, Road No. 13 VKIA, Jaipur, in the name of the related party Indokrates
Pvt Ltd.

f) Equitable mortgage of Commercial Plot No. 59, Narayan Vihar-Q, Gopalpura By-pass, Jaipur in the name of Mr. Ashish
Mangal, Managing Director of the Company.

g) Equitable mortgage of Commercial Plot No. 58, Narayan Vihar-Q, Gopalpura By-pass, Jaipur in the name of Mr. Ashish
Mangal, Managing Director of the Company.

h) Equitable mortgage of Plot No. 102, "Manglam Industrial City" at village Jaitpura & Chomu, Tehsil Chomu, District Jaipur in
the name of the Company.

I) Equitable Mortgage of Industrial Property situated at A-128, Shri Khatu Shyam ji Industrial Area, Reengus, Dist-Jaipur in the
name of company.

j) Equitable mortgage of factory land & building situated at G-190, Akeda Doongar, Road No 18, VKI Area, Jaipur in the name of
M/s Dynamic Metal (Prop. Ashish Mangal)

k) Equitable mortgage of residential land & building situated at Plot No B-39, RIICO residential colony, Shri Khatu shyam ji
industrial area, Reengus, Distt. Sikar in the name of the Company.

l) Equitable mortgage on land at Khasra No 347, Village, Harchandpura Vas Devaliya, Tehsil Sanganer, Distt. Jaipur in name of
Mr. Ashish Mangal, Managing Director of the Company.

m) Hypothecation of plant & machinery and other misc. fixed assets at factory situated at F-259-260, Road no.13, B-308 Raod
no. 16, H581A to H-592A, Road no. 6, VKI Area Jaipur.

n) Second charge over all the fixed assets pertaining to the Reengus unit comprising :

(i) Leasehold rights of Dynamic Cables Ltd over immovable property situated at Industrial Plot No. A-129, A-129A, & A-130,
SKS Industrial Area, Reengus, Distt. Sikar, Rajasthan, both present and future.

(ii) All the moveable assets of the company including Plant & Machiner, miscellaneous fixed assets, machinery spares, tools,
accessories, furniture & fixture, equipments etc pertaining to the Reengus unit, both present and future.

(iii) Second charge or hypothecation of roof top solar system at plot no. A-129, A-129A, A-130 SKS Industrial Area, Reengus
Dist. Sikar and Plot no. H-581A-H592(A) Road no 06, VKI Area, Jaipur in the name of company.

o) Secured by personal guarantee of Mr. Ashish Mangal, Mr. Rahul Mangal Directors of the company, Mrs. Shalu Mangal (Wife
of Mr. Ashish Mangal), and Smt Saroj Mangal (Mother of Mr. Ashish Mangal and Rahul Mangal), Mrs. Meenakshi Mangal
(wife of Mr. Rahul Mangal).

Note :

The Company has adopted Ind AS 116 on "Leases" by applying it to all contracts of leases existing on January 1,2025 by using
modified retrospective approach. The Company has recognised and measured the Right-of-Use (ROU) asset and the lease liability
over the remaining lease period and payments discounted using the incremental borrowing rate as at the date of initial
application.

41. Post Employment Obligations

a) Defined Contribution Plans

The Company also has defined contribution plan for its employees' retirement benefits comprising Provident Fund &
Employees' State Insurance Fund. The Company and eligible employees make monthly contribution to the above mentioned
funds at a specified percentage of the covered employees salary. The obligation of the Company is limited to the amount
contributed and it has no further contractual or any constructive obligation. The expense recognised during the year towards
provident fund is Rs. 106.31 lakhs (March 31,2024 : Rs. 80.29 lakhs). The expense recognised during the period towards
Employees' State Insurance is Rs. 43.73 lakhs (March 31,2024 : Rs. 28.04 lakhs)

b) Defined Benefit Plans:

Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in
continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/ termination
is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number
of years of service. The liability in respect of Gratuity has been determined using Projected Unit Credit Method by an
independent actuary.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice,
this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the sensitivity of the
defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation
calculated with the projected credit method at the end of the reporting year) has been applied as when calculating the defined
benefit liability recognized in the balance sheet.

(xi) Risk exposure

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed
below:

Asset Volatility : The plan liabilities are calculated using a discount rate set with reference to bond yields; if plan assets
underperform this yield, this will create a deficit. Most of the plan asset investments is in fixed income securities with high
grades and in government securities. These are subject to interest rate risk and the fund manages interest rate risk with
derivatives to minimise risk to an acceptable level. A portion of the funds are invested in equity securities and in alternative
investments which have low correlation with equity securities. The equity securities are expected to earn a return in excess
of the discount rate and contribute to the plan deficit. The Company has a risk management strategy where the aggregate
amount of risk exposure on a portfolio level is maintained at a fixed range. Any deviations from the range are corrected by
rebalancing the portfolio. The Company intends to maintain the above investment mix in the continuing years.

Changes in bond yields : A decrease in bond yields will increase plan liabilities, although this will be partially offset by an
increase in the value of the plans' bond holdings.

Inflation risks : In the pension plans, the pensions in payment are not linked to inflation, so this is a less material risk.

Life expectancy : The pension plan obligations are to provide benefits for the life of the member, so increases in life
expectancy will result in an increase in the plans' liabilities. This is particularly significant where infationary increases result
in higher sensitivity to changes in life expectancy.

The Company ensures that the investment positions are managed within an asset-liability matching (ALM) framework that has
been developed to achieve long term investments that are in line with the obligations under the employee benefit plans.

Within this framework, the Company's ALM objective is to match assets to the pension obligations by investing in long-term fixed
interest securities with maturities that match the benefit payments as they fall due and in the appropriate currency.

The Company actively monitors how the duration and the expected yield of the investments are matching the expected cash
outflows arising from the employee benefit obligations. The Company has not changed the processes used to manage its risks
from previous periods. The Company uses derivatives to manage some of its risk. Investments are well diversified, such that the
failure of any single investment would not have a material impact on the overall level of assets.

43. Derivatives

(I) The company has entered in to various currency future contracts to hedge its risks associated with respect to currency
fluctuation. The use of currency future contracts is governed by the company's strategy approved by the board of directors,
which provides principles on the use of such future contracts consistent with the company risk management policy. The
company does not use future contracts for speculative purpose.

(ii) Risk associated with fluctuation in the currency is minimized by hedging on future market. The result of currency hedging
contracts, transactions are treated in profit & loss account as income or expenditure as the case may be.

(iii) Outstanding currency future contracts (USD) entered in to by the company as on 31.03.2025 is Nil (PY- Nil)

44. Corporate social responsibility expenditure

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2%
of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR)
activities.

45. Dividend

The Board of Directors have recommended a dividend of Rs. 0.50 per equity share (PY : Rs 0.50 per equity share), subject to
approval of shareholders in annual general meeting for financial year 2024-25.

46. Disclosure as per Ind AS 108 - Operating Segments

The Company is engaged in the business of manufacturing of conductors and cables which widely include manufacturing of
LV, MV and HV Power Cables, Aerial Bunched Cables, All Aluminium conductors, All Aluminium Alloy Conductor, Railway
signaling cables etc. All other activities of the Company revolve around its main business. Accordingly, Management has
identified the business as single operating segment. Accordingly, there is only one reportable segment for the company
which is 'Conductors and Cables'. Hence, as per Ind AS 108, 'Operating Segments', no disclosures related to segments are
presented.

47. Financial Risk Management

The Company's Financial Risk Management is an integral part of planning and execution of its business strategies. The
Company's financial risk management is set by the Managing Board. The Company's prinicipal financial liabilities comprise
borrowings, trade payables and other payables. The main purpose of these financial liabilities is to finance the company's
operations. The company's principal financial assets include trade & other receivables, cash and cash equivalents, security
deposits.

Company is exposed to following risk from the use of its financial instruments:

-Credit Risk
-Liquidity Risk
-Market Risk

(i) Credit risk management

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 resulting in a financial loss to the Company. Credit risk arises principally from trade receivables, loans
& advances, cash & cash equivalents and deposits with banks and financial institutions.

Cash & Cash Equivalents & Other Financial assets:

The Company maintain its cash & cash equivalent in current account to meet the day to day requirements. Credit Risk on cash
and cash equivalent, deposits with the banks/financial institutions is generally low as the said deposits have been made with
the banks/ financial institutions who have been assigned high credit rating by international and domestic rating agencies.

The Company held cash and cash equivalents and other bank balances of Rs. 3187.39 Lakhs ( As on 31 March, 2024 : 2993.08
Lakhs).

Trade Receivables:

Customer credit risk is managed by the Company through its established policies and procedures which involve setting up
credit limits based on credit profling of individual customers, credit approvals for enhancement of limits and regular
monitoring of important developments viz. payment history, change in credit rating, regulatory changes, industry outlook
etc. Outstanding receivables are regularly monitored and an impairment analysis is performed at each reporting date on an
individual basis for each major customer. In addition, small customers are grouped into homogeneous groups and assessed
for impairment collectively.

In accordance with Ind AS 109, the Company uses expected credit loss model to assess the impairment loss or reversal thereof
and uses a provision matrix to compute the ECL allowance for trade receivables. In calculating ECL, Company also considers
credit reports and other related credit information for their customers to estimate the probability of default in future.

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to
ensure, 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 risking damage to the Company's reputation.

The company manages liquidity risk by maintaining adequate cash and bank balances and access to undrawn committed
borrowing facilities.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a
financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign
currency exchange rates, commodity prices, equity prices and other market changes that affect market risk sensitive
instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits,
foreign currency receivables, payables and borrowings. The objective of market risk management is to manage and control
market risk exposures within acceptable parameters, while optimising the return.

a) 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 rate. In order to optimize 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 rate risk management by maximising
the use of fixed rate instruments.

b) Foreign Currency risk

Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency, which
fluctuate due to changes in foreign exchange rates. The Company is exposed to foreign currency risk on certain transactions
that are denominated in a currency (primarily with respect to USD and EURO) other than entity's functional currency (INR),
hence exposure to exchange rate fluctuations arises. The risk is that the functional currency value of cash flows will vary as a
result of movements in exchange rates. The Company's exposure to foreign currency risk is nominal. The Company uses
forward contracts, wherever required, to mitigate its risk from foreign currency fluctuations.

Derivative instruments and unhedged foreign currency exposure:

i) Derivative outstanding as at reporting date - Nil

ii) Particulars of unhedged foreign currency exposure as at the reporting date:

48.Capital Management

For the purpose of Company's Capital Management, Capital includes issued equity share capital & Borrowings. The primary
objective of Company's Capital Management is to maximize shareholder's value and to maintain an appropriate capital
structure of debt and equity. The company manages it's capital structure and makes adjustments in the light of changes in
economic environment and the requirements of financial covenants. The company manages it's capital using Debt to Equity
Ratio which is Net Debt/Total Equity. Net Debt is total borrowing (Non-current and current) less cash and cash equivalent.

(b) Title deed of all the immovable properties (other than properties where the Company is the leesee of and the lease
agreements are duly executed in favour of the leesee) are held in the name of the Company except Land purchased by the
company through Sale deed executed in the name of company on 10-03-2016 situated at H-1-601 B Rd. no. 6 VKI Area,
Jaipur value Rs. 48.22 Lakhs for which lease deed has not been prepared till now.

(c) The Company has been sanctioned working capital limit in excess of Rs. 5 Crore from Bank/ Financial Institution on the basis
of security of current assets, the company has submitted the statement of stock and book debts which are in agreement
with books of accounts, except minor immaterial discrepancies.

(d) There are no investment in properties.

(e) The Company does not have any subsidiary hence clause (87) of section 2 of the Act read with the Companies (Restriction
on number of Layers) Rules, 2017 is not applicable.

^(f) The Company has not revalued its Property,Plant and Equipment during the year.

(g) The Company has not revalued its intangible assets during the year.

(h) The Company has not made Loan and advances s in the nature of loans to promoters, directors, KMPs and the related
parties.

(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.

(j) The Group is not declared a wilfull defaulter by any Bank or Financial institution or any other lender

(k) The Group has no transaction with Companies which are struck off under section 248 of the Companies Act,2013 or under
section 530 of Companies Act,1956.

(l) The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC)
beyond the statutory period.

(m) During the year no Scheme of Arrangement has been formulated by the Group/pending with competent authority.

(n) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified
by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding
Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or
entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries.

(o) The Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account,
in the tax assessments under the Income Tax Act, 1961 as income during the year.

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

^(q) The Company has raised Rs.9658.79 Lakhs by way of preferential issue of equity shares at a Face Value of Rs.10 each at a
price of Rs.436 per equity share including a premium of Rs.426 per equity share in Securities Premium. An amount of Rs.
6060.07 Lakhs was utilized as per Issue objectives (including advances) till 31st March 2025, unutilized amount of Rs.
3598.71 as on 31st March 2025 have been invested in Mutual Fund.

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

For M/s A Bafna & Co.

Chartered Accountants

(Firm's Reg. No.003660C) Ashish Mangal Rahul Mangal

Managing Director Chairman

^{CA Vivek Gupta} DIN No: 00432213 DIN No: 01591411

Partner

M.No. 400543 Naina Gupta Murari Lal Poddar

Company Secretary Chief Financial Officer

M.No. A56881

Date : 13^th May 2025

Place: Jaipur