h. Provisions, contingent Liabilities & contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in
the provision due to the passage of time is recognised as a finance cost.

Contingent assets are disclosed in the Financial Statements by way of notes to accounts only in case of
inflow of economic benefits is probable.

Contingent liabilities are disclosed in the Financial Statements by way of notes to accounts for possible
obligations which will be confirmed only by future events not wholly within the controls of the Company or
present obligations arising from past events where it is not probable that an outflow of resources will be
required to settle the obligation or reliable estimate of the amounts of the obligation cannot be made.

i. Retirement and other employee benefits

i) Gratuity: Gratuity liability is a defined benefit obligation and is provided for on the basis of an actuarial
valuation made at the end of each financial year under the projected unit credit method. Actuarial
gains/losses comprise experience adjustments and the effect of changes in actuarial assumptions and
are recognized immediately in the other comprehensive Income as Income on the basis of valuation
by an independent Actuary. The liability is unfunded.

ii) Provident Fund: A retirement benefit in the form of provident fund scheme is a defined contribution
and the contribution is charged to the statement of profit and loss of the year when the contribution to
the respective fund is due. There are no other obligations other than the contribution payable to the
respective fund.

iii) Compensated Absences: Liability in respect of compensated absence is determined and charged to
the statement of profit and loss on the basis of valuation by an independent actuary.

j. Financial assets

Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded
at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial
asset. Purchases or sales of financial assets that require delivery of assets within a time frame established
by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e.,
the date that the company commits to purchase or sell the asset.

For purposes of subsequent measurements, 'debt instrument' is measured at the amortised cost if both the
following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual
cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.

This category is the most relevant to the company. After initial measurement, such financial assets are
subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised
cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
are an integral part of the EIR. The EIR amortisation is included in finance income in the profit or loss.
The losses arising from impairment are recognised in the profit or loss. This category generally applies
to trade and other receivables.

Equity investments

All equity investments in subsidiaries are measured at cost less diminution other than temporary. All
equity investments in scope of Ind AS 109 are measured at fair value.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on
the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts
from OCI to P&L, even on sale of investment. However, the company may transfer the cumulative gain
or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes
recognized in the P&L.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of similar financial assets) is
primarily derecognised i.e. removed from the Company's balance sheet when:

> the Company has transferred its rights to receive cash flows from the asset ; and either

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

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

On derecognition of a financial asset in its entirety, the difference between the assets carrying amount
and the sum of the consideration received and receivable and the cumulative gain or loss will be
recognised as profit or loss on disposal.

Impairment of financial assets

In accordance with Ind AS 109, the company applies expected credit loss (ECL) model for measurement
and recognition of impairment loss on the following financial assets and credit risk exposure:

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

> Trade receivables or any contractual right to receive cash or another financial asset that result
from transactions that are within the scope of Ind AS 115

The company follows 'simplified approach' for recognition of impairment loss allowance on:

> Trade receivables or contract revenue receivables; and

> The application of simplified approach does not require the Company to track changes in credit
risk. Rather, it recognises impairment loss allowance based on lifetime ECL at each reporting
date, right from its initial recognition.

In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for
measurement and recognition of impairment loss on the following financial assets that are debt
instruments, and are measured at amortised cost.

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

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

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

> All contractual terms of the financial instrument (including prepayment, extension, call and similar
options) over the expected life of the financial instrument. However, in rare cases when the
expected life of the financial instrument cannot be estimated reliably, then the entity is required to
use the remaining contractual term of the financial instrument.

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

As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance
on portfolio of its trade receivables. The provision matrix is based on its historically observed default
rates over the expected life of the trade receivables and is adjusted for forward-looking estimates. At
every reporting date, the historical observed default rates are updated and changes in the forward¬
looking estimates are analysed. On that basis, the Company estimates the following provision matrix
based on the assumptions which are derived based on the expected outcomes.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/
expense in the statement of profit and loss (P&L). This amount is reflected under the head 'other
expenses' in the P&L. The balance sheet presentation for various financial instruments is described
below:

> ECL is presented as an allowance, i.e., as an integral part of the measurement of those assets in
the balance sheet. The allowance reduces the net carrying amount. Until the asset meets write¬
off criteria, the Company does not reduce impairment allowance from the gross carrying amount.

> For assessing increase in credit risk and impairment loss, the Company combines financial
instruments on the basis of shared credit risk characteristics with the objective of facilitating an
analysis that is designed to enable significant increases in credit risk to be identified on a timely
basis.

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit
or loss, loans and borrowings, payables as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction cost

Subsequent measurement

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

> Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading
and financial liabilities designated upon initial recognition as at fair value through profit or
loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of
repurchasing in the near term.

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

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

> Financial liabilities at amortised cost

After initial recognition financial liabilities if any are subsequently measured at amortised cost
using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are
derecognised as well as through the EIR amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and
fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance
costs in the statement of profit and loss.

> Derecognition

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

> Offsetting of financial instruments

Financial assets and liabilities are offset and the net amount is presented in Balance Sheet when,
and only when, the Company has a legal right to offset the recognized amounts and intends
either to settle on a net basis or to realize the assets and settle the liability simultaneously.

k. Cash and cash equivalents:

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of
changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of
the Company's cash management.

Cash flows are reported using the indirect method, whereby profit/(loss) before tax is adjusted for the
effects of transactions of no cash nature and any deferrals or accruals of past or future cash receipts or
payments. Cash flow for the year is classified by operating, investing and financing activities.

2.3 Recent Accounting Pronouncements:

i) New and amended standards adopted by the Company:

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. MCA has notified Ind AS -
117 Insurance Contracts & consequential amendments to the other standards and amendments to Ind AS
116 - Leases, relating to sale and leaseback transactions, applicable to the Company w.e.f. April 1, 2024.

The Company has reviewed this new pronouncement and based on its evaluation has determined that it
does not have any significant impact in its financial statements.

ii) New Standards/Amendments notified but not yet effective:

MCA has not notified any new standards or amendments to the existing standards applicable to the
Company.

Provision for indirect taxation:

Provision for indirect taxation comprises of dues towards Custom duty (EPCG). Directorate General of Foreign
Trade (DGFT) had issued 18 EPCG licenses during the period 2003 to 2009 for which fulfilment of Export
Obligation was pending. On 06.05.2016, Directorate of Revenue Intelligence (DRI) issued a show cause notice
to the Company for non-fulfilment of export obligation for the said licenses. The case was adjudicated by the
Principal Commissioner of Customs vide OR.No. 48/2016-Adjn.Cus.(Commr.) dated 27.03.2017 directing the
Company to pay the duty foregone along with applicable interest and redemption fines on 14 licenses. The
Company filed export redemption requests for 3 EPCG licenses to RA-Hyderabad on 28.03.2018 and remitted
Customs duties amounting to Rs. 2.97 Crores in compliance to the order. Meanwhile, the Company filed an
appeal before CESTAT on 06.07.2017 challenging the order on interest, penalties and fines, which is pending for
hearing as on date. On 01.04.2023, DGFT notified Amnesty Scheme for one time settlement of default in export
obligation by advance and EPCG authorisations vide Public Notice No. 02/2023 dated 01.04.2023 applicable
for all such authorisations whose export obligation period (original or extended) was valid beyond 12.08.2013.
Though the Company registered to avail the scheme for all pending licenses, only 4 out of 15 licenses were
approved by DGFT for consideration under the Scheme. The Company further appealed to the Policy Relaxation
Committee (PRC) of DGFT on 20.12.2023 for consideration of 10 licenses under the scheme, which was granted
by PRC on its meeting 33/AM24 held on 22.03.2024. The Company remitted balance duties and interest of
Rs. 1.96 Cr as per Amnesty Scheme during the quarter ended 31st March, 2024 and request filed for Export
Obligation Discharge Certificate (EODC) with DGFT online, DGFT had issued EODC for 12 EPCG licenses till
31st March, 2025 and the process is in progress for balance 2 licenses.

C) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument may result from changes
in the foreign currencies, exchange ratios, interest ratio, credit, liquidity and other market changes. However,
currency risk and the interest risk are not significant to the Company since, the Company has only Indian rupee
borrowings which is medium term in nature.

Note 26 (a) Operating Lease

Operating leases, in which the Company is the lessor, relate to equipment owned by the Company with lease
terms up to 7 years. The agreement can be terminated any time by Lessor/ Lessee by giving 60 days prior
written notice. All operating lease contracts contain market review clauses in the event that the lessee exercises
its option to renew. The lessee does not have an option to purchase the property at the expiry of the lease period.

Maturity analysis of operating lease payments:

Notes to the Standalone Financial Statements for the Year ended March 31, 2025 (Contd)

(All amounts in thousands of Indian Rupees except share data and where otherwise stated)

Note 27: Operating Segment Disclosure

As per Ind AS 108 segment information to be presented from management's perspective, which means it is presented
in the way used in internal reporting. The basis for identifying reportable segments is internal reporting as it is reported
to and followed up on by the chief operating decision maker (CODM). The Company has, in this context, identified
the Chief Executive Officer of the company as the chief operating decision maker. The chief executive officer of
the Company is responsible for allocating resources and assessing performance of the operating segments and
accordingly is identified as the chief operating decision maker. The Chief Executive Officer evaluates the operating
segments' results on the basis of revenue and gross profit as the performance indicator for all of the operating
segments, and does not review the total assets and liabilities of an operating segment as it is not provided regularly
to CODM for review.

Zenotech Laboratories Limited is engaged in single business activity of Pharmaceuticals and the company does not
have multiple operating segments. Other than revenue analysis that is disclosed in Note (21), no operating results
and other discrete financial information is available for the assessment of performance of the respective business
divisions and resources allocation purpose.

Major Customer Dependency

Entire portion of the operating revenue earned by the Company is from single customer i.e., Sun Pharma Group. In
the current year, revenue earned from Sun Pharmaceutical Industries Limited is 100% (PY:100%) of the total revenue
for the year.

Note 28: Interests in other entities

a) Subsidiaries

The Company's subsidiaries as at 31 March 2025 are set out below. Unless otherwise stated, they have share
capital consisting solely of equity shares that are held directly by the Company, and the proportion of ownership
interests held equals the voting rights held by the company. The country of incorporation or registration is also
their principal place of business

Notes:

The managerial personnel are covered by the Company's gratuity policy and Mediclaim insurance policy taken
and are eligible for leave encashment along with other employees of the Company. The proportionate premium
paid towards these policies and provision made for leave encashment/ gratuity pertaining to the managerial
personnel has not been included in the aforementioned disclosures as these are not determined on an individual
basis.

Note 30:

a) Update on the events and circumstances relating to on-going differences with Late Dr. Jayaram
Chigurupati, the erstwhile Promoter and Managing Director of the Company.

Post acquisition of stake in the Company by Ranbaxy Laboratories Limited and Daiichi Sankyo Company Limited
(taken over by Sun Pharmaceutical Industries Limited effective from 24 March 2015 pursuant to a merger scheme
herein after referred to as the “current promoters”) there were disagreements on various accounts between
Late Dr. Jayaram Chigurupati and Ranbaxy Laboratories Limited/Daiichi Sankyo Company Limited resulting in
various legal cases being filed by both the parties before various forums. The Management was denied access
to the factory and other premises of the Company due to which a legal case was filed before the Company Law
Board (CLB), Chennai, for taking over the physical possession of the factory premises from Late Dr. Jayaram
Chigurupati, the erstwhile Promoter and Managing Director of the Company. Owing to the protracted legal case,
the physical possession of the factory premises could be taken over on November 13, 2011 in the presence
of CLB appointed Advocate Commissioner, in pursuance to an Order passed by the CLB. Subsequent to the
gaining of the possession of the factory premises, further assessment by the Management revealed that, among
others, certain books and records, supplementary documents and statutory registers till the period 12 November
2011 were missing and which are still not in the possession of the Company. The Honourable Company Law
Board vide order dated 8 October 2012 further directed the erstwhile Promoter and Managing Director of the
Company to return all the documents and provide written details of all missing documents/ assets/ statutory
records / equipment of the Company. The Honourable High Court of Andhra Pradesh has also passed a similar
order. The Company has not yet received any of these documents/ information.The Management, therefore,
based on the available limited records, statutory returns filed, supplementary documents, invoices, external
corroborative evidence and after considering the various non compliances under the Companies Act, 1956,
listing agreement and Foreign Exchange Management Act, etc. post 12 November 2011, reconstructed financial
statements for the years ended 31 March 2011 and 2012. Management is also in the process of regularizing and
compounding such non compliances with the various authorities concerned.Since matters relating to several
financial and non-financial irregularities are sub-judice and various legal proceedings are on-going, any further
adjustments / disclosures to the financial statements, if required, would be made in the financial statements of
the Company as and when the outcome of the above uncertainties is known and the consequential adjustments
/ disclosures are identifiable/ determinable.

Accordingly, based on the steps taken by the Company and evidence available so far, any financial impact on
the results of the Company is likely to be significantly low.

b) Investment in subsidiaries:

Upon obtaining control of the Company, the Management observed that no books of account and records
were available regarding its overseas subsidiaries. The management has not received any response from
the erstwhile Managing Director on the queries raised regarding details pertaining to these subsidiaries and
seeking documents / certificates related to Forex transactions with these subsidiaries including certain loans
and investment made in the same. Provision has not been made for potential and financial consequences
arising out of such on-going evaluations, the outcome of which will depend on the nature and extent of non
compliances which is currently not determinable. Meanwhile, the Company received the winding up order for
its defunct subsidiary in Nigeria in FY: 2019-20 and the Company is in the process of filing related reports with
RBI. The Company's overseas subsidiaries namely Zenotech Farmaceutica Do Brasil Ltda (Zenotech-Brazil)
and Zenotech Inc (Zenotech-USA) were defunct and reported as cancelled/revoked respectively based on the
Registration Cancellation certificate dated 8th June, 2022 and Long Form Standing certificate dated 15th June,
2022 respectively, received from concerned authorities.

*During the FY 2012-13, the Company received legal notices from the Assistant Commissioner of Labour,
Vikarabad circle, Hyderabad pursuant to applications filed by 19 ex-employees of the Company for non-payment
of gratuity amounting to approximately ? i860. The Company had responded to the said notice and the matter
is still pending for hearing.

**During the year 2015-16, the Joint Director General of Foreign Trade (JDGFT) issued orders on 5 EPCG
licenses imposing penalties amounting to ? 96,000 for non-fulfilment of export obligations. The Company filed
appeal before DGFT, New Delhi and DGFT passed an interim stay order on 04.03.2016 directing RA-Hyderabad
not to take any punitive action against the Company. However, final disposal of the matter is pending with DGFT
Balance ? 8640 pertain to redemption fines and penalties imposed by the Principal Commissioner of Customs
in the adjudication order OR.No.48/2016-Adjn.Cus.(Comr) dated 27.03.2017. The Company's appeal before
CESTAT challenging the order is pending for hearing as on the date of balance sheet. (Refer Note No. 14(b) -
“Provision for Indirect Taxation”).

Legal cases filed by/against the Company

a) . During the year ended 31 March 2011, Technology Development Board (TDB) had filed a claim petition under

Arbitration and Conciliation Act, 1996 for recovery of dues payable by the Company as per loan agreement.
The Arbitrator has issued an order with direction to the Company and erstwhile Co-Managing Director to pay
individually or jointly the outstanding dues to TDB. During the earlier years, 600,000 equity shares of the
Company held by erstwhile Co-Managing Director was transferred to TDB which were pledged as security.
During the year ended March 31, 2018, Company has repaid all the amount due to TDB ( excluding Interest)
based on the settlement agreement by the DRC (Dispute Resolution Committee). The Interest liability will
depend upon the liability payable less the shares sold in the open market by TDB (Pledged shares)

b) . The Company has filed certain legal cases before the appropriate forum against the erstwhile promoter and

managing director with regard to loss of vehicles, missing records including intellectual property, unauthorised
use of the name & Logo of the Company and certain missing DNA clones.

c) . Subsequent to Daiichi Sankyo Company Limited (DS) acquiring 63.92% stake in Ranbaxy Laboratories Limited

(now Sun Pharmaceutical Industries Limited) in October 2008, DS announced an open offer to acquire 20%
share of the Company at Rs. 113.62 per share. Aggrieved by the pricing of the share, erstwhile promoter and one
or two other shareholders filed a petition in the Hon'ble High Court of Madras. The Company has been named
as Respondent in the said case. An interim injunction in connection with the offer was given by the Hon'ble High
Court of Madras and subsequently it was quashed by the Hon'ble Supreme Court based on a petition filed by
DS against the said injunction. Meanwhile some of the shareholders (excluding Ranbaxy) including erstwhile
promoter of the Company filed a petition with Securities Appellate Tribunal (SAT) with respect to the pricing of the
share of the Company against the order of the SEBI turning down erstwhile promoters' complaint. SAT directed
DS to price the open offer at Rs 160 per share. DS has filed an appeal against the SAT order in the Supreme
Court. The Supreme Court vide its order dated July 8, 2010 has ruled in favour of DS and allowed the open offer
to be made at the price of Rs 113.62 per share.

In June 2012, erstwhile promoter has filed a writ petition before Honourable Andhra Pradesh High Court against
Foreign Investment Promotion Board and DS challenging acquisition of 20% shares of the Company by DS
through an open offer.

d) . In addition, the Company is subject to legal proceedings and claims, which have arisen in the ordinary course

of business including litigation before various tax authorities. The Company's Management does not reasonably
expect that these legal actions, when ultimately concluded and determined, will have a material and adverse
effect on the Company's results of operations or financial conditions. The Company has accrued appropriate
provision wherever required.

e) . Other than those disclosed, the Company has not received any significant claims post 31 March 2011.

f) . During the A.Y 2020-21 service tax dispute was settled under sabka vishwas scheme which was claimed as an

expense u/s.43B. However the settled amount has been disallowed u/s 143(1)(a) and demand intimation was
issued for Rs 2,04,79,333. The company has filed an appeal with commissioner challenging the disallowance
made

Under Section 143(3), a disallowance of ^1,71,19,665 was made, resulting in tax sought to be avoided of
?52,89,976. The company lost its appeal in CIT(A), and a penalty of 100% under Section 271(1)(c) was imposed
by the National Faceless Assessment Centre. The company has filed an appeal against the penalty order, which
is currently pending before CIT(A).

(ii) Contingent assets: Nil

Note 32:Assets pledged as security

The carrying amount of assets pledged as security in case of loan taken from Technology Development Board (TDB)

Note 36: Other Statutory Information

a) . No proceeding have been initiated or pending against the Company under the Benami Transactions (Prohibitions)

Act, 1988 (45 of 1988) and the Rules made thereunder.

b) . The Company has not traded or invested in crypto currency or virtual currency during the financial year.

c) . The Company has not granted any loans or advances in the nature of loans to promoters, directors and KMPs,

either severally or jointly with any other person.

d) . The Company does not have any transaction which is not recorded in the books of accounts that has been sur¬

rendered 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).

e) . The Company has not been sanctioned working capital limits from banks or financial institutions during any point

of time of the year on the basis of security of current assets.

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

other government authorities.

g) . The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including

foreign entities (Intermediaries) with the understanding that the Intermediary shall:

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 to or on behalf of the ultimate beneficiaries.

h) . 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 does not have any transactions with struck off companies.

j) . The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the

statutory period.

k) . The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read

with the Companies. (Restriction on number of Layers) Rules, 2017

l) . No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of

the Companies Act, 2013.

m) . The company has not revalued its property, plant and equipment (including right-of-use assets) or intangible

assets or both during the current or previous year.

n) . The Company has not declared or paid dividend during the year 2024-25.

o) . The Company does not hold any investment property and hence the disclosure on fair valuation of investment

property is not applicable to the Company.

Note 37:

The Company has used accounting software during the year which has the audit trail feature of recording audit trail (edit
log) facility being enabled throughout the year. Post publication of ICAI implementation guide in February 2024, direct
database level changes were also included in audit trial scope, but the company uses such a software that it has no
database but only objects and collections, hence, no changes is possible at that level.

Note 38:

Previous year's figures have been regrouped, wherever necessary, to conform to current year's grouping.

Note 39:

The financial statements were approved by the board of directors on April 25, 2025.

As per our Report of even date attached

for PKF Sridhar & Santhanam LLP for and on behalf of the Board of Directors of

Chartered Accountants Zenotech Laboratories Limited

Firm Registration Number: 003990S/S200018 CIN: L27100TG1989PLC010122

Viswanath VNSS Kuchi Azadar Husain Khan Jagruti Prashant Sheth Dr.Sachin Laxmanappa Gavandare

Partner Chairman Director Chief Executive Officer

Membership No.: 210789 DIN:01219312 DIN:07129549

UDIN: 25210789BMOUUR1057 Poly K.V.

Chief Financial Officer

Abdul Gafoor Mohammad

Company Secretary

Place: Hyderabad Place: Delhi Place: Mumbai Place: Hyderabad

Date: April 25, 2025 Date: April 25, 2025 Date: April 25, 2025 Date: April 25, 2025