3A.1 The Company has started with construction of new hospital at Raipur in May 2023 which is under progress as on March 31, 2025. The carrying amount for construction of hospital at March 31, 2025 is H3841.03 (March 31, 2024: H550.31 lacs). During the current year, the Company has taken loan from HDFC Banks of H2000.00 lacs, out of which H603.72 lacs applied for acquisition of medical equipment and infrastructure development for the hospital at Raipur at interest rate of 8.75% per annum. The amount of borrowing costs capitalised during the year ended March 31, 2025 is H14.33 lacs (March 31,2024: Nil).

3A.2 There are no projects as on each reporting period where activity had been suspended. Also there are no projects as on each reporting period which has exceeded cost as compared to its original plan or where completion is overdue.

3A.3 The Company has performed an assessment of its Capital work-in-progress for possible triggering events or circumstances for an indication of impairment and has concluded that there were no triggering events or circumstances that would indicate the Capital work in progress are impaired.

8.2 During the F.Y. 2023-24, the Company has incurred expenses aggregating to H1698.51 lacs recoverable from the selling shareholders towards various services received in connection with proposed initial public offer of its equity shares which includes an offer for sale by existing shareholders as per the offer agreement between the Company and the selling shareholders, the selling shareholders shall reimburse the aforesaid expenses on proportionate basis on listing of the Company’s equity shares on stock exchanges in India. Accordingly, an amount of H1195.48 lacs has been re-imbursed by the selling shareholders in F.Y. 2023-24 and the balance amount has been received in the current financial year.

8.3 Fixed deposit account with bank- maturity over 12 months are pledged as security against Bank Guarantee and Borrowings.

b) Terms/ Rights attached to equity shares :

(i) The Company has only one class of equity shares having a par value of H10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupee. The dividend proposed by the board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting and is accounted for in the year in which it is approved by the shareholders in the general meeting.

(ii) In the event of liquidation of the Company the holders of equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.

As per records of the Company, including its register of shareholders /members as on March 31, 2025, the above shareholding represents legal ownership of shares.

(f) Equity shares movement during 5 years preceding March 31, 2025

(i) The company has issued 58,82,000 bonus equity shares in the ratio of 2 (two) fully paid-up bonus share of the face value of H10 each for every existing 1 (one) fully paid-up equity share of the face value of H10 each as approved by the members at the Annual General Meeting held on September 03, 2021. These bonus shares have been issued by capitalizing the sum of H3,588.20 lacs from and out of Securities Premium and the balance amount from the General Reserve of the Company

(ii) There is no change in the authorized share capital of the Company during the year. The Present Authorized Share Capital of the Company is H125,00,00,000 (Rupees Twelve Thousand Five Hundred lacs) divided into 12,50,00,000 Equity Shares of H10 Each.

During the financial year ended March 31,2022, the authorised share capital of the company amounts to H12,500 lacs comprises of 8,50,00,000 number of Equity shares of face value of H10 each and 4,00,00,000 number of 0.001% Compulsory Convertible Preference Shares of H10 each ranking pari passu with existing shares of the company. Pursuant to a resolution passed by the shareholders at the 33^rd Annual General Meeting held on May 12, 2022, the entire authorised share capital shall comprise of 12,50,00,000 number of equity shares of face value of H10 each and preference shares of H10 shall stand at Nil.

(iii) During the FY 2023-24, the Company raised a sum of H4000 lacs from the capital market through an initial public offer of 21,50,537 equity shares of H10 each at a premium of 176 per share. Equity shares of the Company were listed and traded on National Stock Exchange India Limited and BSE Limited with effect from February 29, 2024.

The funds received pursuant to Initial Public Offer, have been utilized for the objects stated in the Prospectus dated February 26, 2024.

Consequently, the issued, subscribed and paid-up capital of the Company has been increased from H79,90,42,860 (Rupees Seventy Nine Crores Ninety lacs Forty Two Thousand Eight Hundred Sixty Only) divided into 7,99,04,286 equity shares of H10 each to H82.05 lacs (Rupees Eighty Two Crores Five lacs Forty Eight Thousand Two Hundred Thirty Only) divided into 8,20,54,823 Equity Shares of H10 Each.

g) No ordinary shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as at the Balance Sheet date.

h) No securities convertible into Equity/ Preference shares have been issued by the Company during the year ended March 31, 2025 and March 31, 2024.

i) No calls are unpaid by any Director or Officer of the Company during the year.

17.5 Nature and purpose of other reserves Capital Reserve

Capital reserve of H122.47 lacs was created on merger of CG Securities Private Limited and Matrix Dealcomm Private Limited with the Company, pursuant to scheme of arrangement dated October 01, 2009.

Securities premium

Securities premium represents premium received on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a specified percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that if a dividend distribution in a given year is more than 10% of the paid-up capital of the Company for that year, then the total dividend distribution is less than the total distributable results for that year. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

Retained Earnings

Retained earnings are the profits/(loss) that the Company has earned/incurred till date, less any transfers to general reserve, dividends or other distributions paid to shareholders Retained earnings include re-measurement loss / (gain) on defined benefit plans, net of taxes that will not be reclassified to Statement of Profit and Loss account.

(i) The Taxation Laws (Amendment) Ordinance, 2019 was promulgated on September 20, 2019, which amends the Income Tax Act, 1961, and the Finance (No. 2) Act, 2019. The Ordinance provides domestic companies with an option to opt for lower tax rates, provided they do not claim certain deductions. Further, CBDT has clarified that the tax credit of MAT paid by the domestic company exercising option under section 115BAA of the Act shall not be available consequent to exercising of such option.

As there is no time line within which option under section 115BAA can be exercised, it may be noted that a domestic company having credit of MAT may, if it so desires, exercise the option after utilising the said credit against the regular tax payable. The management of Company has assessed the impact of the above ordinance and CBDT clarification and in view of the significant amount of MAT credit, the management has chosen not to opt for lower tax rates and continue with the normal tax rate.

(ii) Deferred tax assets has been recognised for the future tax consequences to the extent it is probable that future taxable profits will be available against which the deductible temporary differences can be utilised.

MAT Credit entitlement is the amount which is available for set off in subsequent years against income tax liabilities as per the provisions of the Income Tax Act 1961The MAT Credit entitlement recognised will expire as follows:

22.1 Government grant amounting to H2068.83 lacs was received on July 16, 2015 for meeting capital expenditure of ILS Hospitals, Agartala. These grants related to purchase of property, plant and equipment have been included in non-current liabilities as deferred income and are credited to statement of profit or loss on a straight line basis over the expected useful life of the related asset and presented under other operating revenue.

Terms & conditions :

23.1 Overdraft facility having sanctioned limit of H500.00 lacs (PY H500.00 lacs) from HDFC bank is secured by equitable mortgage of Holding No. Rgm- 3/142, Narayanpur South, Block 1, Rajarhat Gopalpur, Po Rajarhat Gopalpur, Kolkata 700136, Ps Dum Dum Airport, Mouza Gopalpur, Jl No 2, Ward No 6, North 24 Parganas, first charge by way of hypothecation of entire movable Property, Plant & Equipments of ILS Agartala Hospital (except specifically charged to Equipment/ Vehicle Loan) and current assets of the Company personal guarantee of Dr Om Tantia and Mr Anurag Tantia and Corporate Guarantee of GPT Sons Private Limited. The loan carries an interest at the rate of 9.35% per annum as at March 31,2025 (Previous year ended March 31, 2024: 9.35% per annum)

23.2 The Company is not required to file any quarterly returns/ statements with the Bank for any facility.

Note: The Code on Social Security, 2020 ('Code’) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India certain sections of the code came into effect on May 03, 2024. However, the date on which the Code will come into effect has not been notified and the final rules/ interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

35 Segment information

The Chief Operating Decision Maker (CODM) of the Company takes decision in respect of allocation of resources and assesses the performance basis the report/ information provided by functional heads.

Based on the Company’s business model, medical and healthcare services have been considered as a single business segment for the purpose of making decision on allocation of resources and assessing its performance. Accordingly there are no separate reportable segments in accordance with the requirements of Ind AS 108 'Operating segment’ and hence, there are no additional disclosures to be provided other than those already provided in the Financials Statements. Presently, the Company’s operations are predominantly confined in India. There are no individual customer contributing more than 10% of Company’s total revenue. All non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets of the Company are located in India.

37 Defined Benefit Plans - Gratuity

The Company operates post-employment defined benefit plan that provide gratuity The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive one-half month’s salary for each year of completed service at the time of retirement/exit. The gratuity fund is administered by trust formed for this purpose and is managed by Life Insurance Corporation of India. The Company’s obligation in respect of the gratuity plan, which is a defined benefit plan, is provided for based on actuarial valuation carried out by an independent actuary using the projected unit credit method. The Company recognizes actuarial gains and losses immediately in other comprehensive income, net of taxes. The Company accrues gratuity as per the provisions of the Payment of Gratuity Act, 1972 as applicable as at the balance sheet date.

The Company contributes all ascertained liabilities towards gratuity to the Fund. The plan assets have been primarily invested in insurer managed funds. The Gratuity plan provides a lump sum payment to the vested employees at retirement, death, incapacitation or termination of employment based on the respective employees salary and tenure of the employment with the Company.

The present value of the defined benefit obligation, and the related current service cost and past service cost, were measured using the projected unit credit method.

38 Defined Contribution Plan

The Company makes contributions towards provident fund and employees state insurance as a defined contribution retirement benefit fund for qualifying employees. The provident fund is operated by the regional provident fund commissioner

The amount recognised as expense towards contribution to provident fund amount was H293.12 lacs (previous year H275.35 lacs) .The Employee state insurance is operated by the employee state insurance corporation. Under these schemes, the Company is required to contribute a specific percentage of the payroll cost as per the statute. The amount recognised as expense towards contribution to Employee State Insurance amount was H60.23 lacs (previous year H67.61 lacs). The Company has no further obligations in regard of these contribution plans.

39 Corporate Social Responsibility

As per Section 135 of Companies Act 2013, the Company has made contributions as stated below. The same is in line with activities specified Schedule VII of Companies Act, 2013.

Company as Lessor

The Company has given certain property, plant and equipment on cancellable leases to various parties. The rental income earned from such leases recognised in other income is H37.92 lacs (March 31, 2024: H38.05 lacs)

41 Financial instruments

This section gives an overview of the significance of financial instruments for the Company and provides additional information on balance sheet items that contain financial instruments.

The details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised in respect of each class of financial asset, financial liability and equity instrument are disclosed in the financial statements.

(i) Accounting classifications

The fair values of the financial assets and liabilities are 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 values:

The carrying amounts of trade receivables, cash and cash equivalents, short term deposits, trade payables, payables for acquisition of property, plant and equipment, short term loans from banks, financial institutions and others are considered to be the same as their fair values, due to their short-term nature. Most financial assets and liabilities of the Company as at the balance sheet date are short term having fair value equal to amortised cost.

(ii) Fair Value measurements

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: Significant unobservable inputs from assets and liability

-Fair Value

The following table summarizes the fair value hierarchy for financial assets and financial liabilities that are either measured at fair value on a recurring basis or are not measured at fair value (but fair value disclosures are required) and the carrying value of financial instruments by categories:

In respect of investments in mutual funds, the fair values represent net asset value as stated by the issuers of these mutual fund units in the published statements. Net asset values represent the price at which the issuer will issue further units in the mutual fund and the price at which issuers will redeem such units from the investors. Accordingly, such net asset values are analogous to fair market value with respect to these investments, as transactions of these mutual funds are carried out at such prices between investors and the issuers of these units of mutual funds.

The carrying amounts of trade receivables, unbilled revenue, cash and cash equivalents, bank balances, other financial assets, trade payables, borrowings and other financial liabilities are considered to be the same as their fair values, due to their short-term nature.

The fair values of Investment in mutual funds are based on the market value using net asset value.

(iii) Capital Management

The Company manages its capital to ensure it will be able to continue as going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance.The capital structure of the Company consists of net debt and total equity of the Company The Company is not subject to any externally imposed capital requirements.

The Company’s risk management committee reviews the capital structure of the Company on annual basis. As part of this review, the committee considers the cost of capital and the risks associated with each class of capital. The Company has a target gearing ratio of 10% of net debt determined as the proportion of net debt to total equity. The gearing ratio at March 31, 2025 of 4.71% (see below) was within the target range.

There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2025 and March 31, 2024

42 Financial risk management

The Company’s activities expose it to a variety of financial risks: credit risk, market risk and liquidity risk.

(a) Risk management framework

The Company’s Board of Directors have overall responsibility for the establishment and oversight of the Company’s risk management framework. The Board of Directors has established the risk management committee, which is responsible for developing and monitoring the Company’s risk management policies. The committee reports regularly to the Board of Directors on its activities.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company to set appropriate risk limits and controls to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and Company’s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all the employees understand their roles and obligations.

The Company’s audit committee oversees how management monitors compliance with the Company’s risk management policies and procedures and reviews the adequacy of risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by the internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

(b) Credit risk

Credit risk is the risk that the counterparty will not meet its obligation under a financial instrument or customer contract, leading to financial loss. The credit risk arises principally from its operating activities (primarily trade receivables and contract assets) and from its investing activities, including deposits with banks and financial institutions and other financial instruments. The carrying amounts of financial assets represent the maximum credit risk exposure.

Credit risk is controlled by analysing credit limits to whom credit has been granted after obtaining necessary approvals for credit. The collection from the trade receivables and contract assets are monitored on a continuous basis by the receivables team.

The Company establishes an allowance for credit loss that represents its estimate of expected losses in respect of trade receivables and contract assets based on the past and the recent collection trend. The maximum exposure to credit risk as at reporting date is primarily from trade receivables and contract assets amounting to H2,815.81 lacs as on March 31, 2025 (March 31, 2024: H3,055.20 lacs).

Customer Concentration:

No single customer represents 10% or more of the Company’s total revenue during the year ended March 31, 2025 and March 31, 2024. Therefore the customer concentration risk is limited due to the large and unrelated customer base.

Credit risk on cash and cash equivalent is limited as the Company generally transacts with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies.

(c) Liquidity Risk

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 has an established liquidity risk management framework for managing its short term, medium term and long term funding and liquidity management requirements. The Company’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. The Company manages the liquidity risk by maintaining adequate funds in cash and cash equivalents.

The Company also has adequate credit facilities agreed with banks to ensure that there is sufficient cash to meet all its normal operating commitments in a timely and cost-effective manner.

The Company has secured loans from bank that contain loan covenants. A future breach of covenant may require the Company to repay the loan earlier than indicated in the above table.

(d) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk.

Interest rate risk exposure

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 long-term and short-term borrowings with variable interest rates.

The remuneration to KMP does not include the provisions made for gratuity and compensated absences, as they are obtained on an actuarial basis for the Company as a whole.

F. Terms and condition:

(i) All transactions with related parties are at arm’s length price basis and resulting outstanding receivables and payables including financial assets and financial liabilities are settled in cash. None of the balances are secured. (All the amounts of transactions and balances disclosed in this note are including GST and undiscounted.)

(ii) Security deposit above does not include impact of fair valuation of Security Deposit as per IND AS

(iii) Other payables includes payable towards Remuneration and Professional Fees

(iv) Payable to Mr Dwarika Prasad Tantia includes commission payable to Director

(v) Outstanding Personal Guarantee / Corporate Guarantees given on behalf of the Company represents aggregate amount of fund and non fund based borrowing limits available to the Company that are secured by assets and these personal guarantees as set out in note no. 18 and 23.

45 The Company did not have any long term contracts including derivative contracts for which there were any material foreseeable losses. The Company does not have any unhedged foreign currency exposure as at March 31, 2025 and March 31, 2024.

46 Other Statutory Information

(a) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and intangible assets during the current and previous year.

(b) The Company does not have any Benami property. Further, there are no proceedings initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

(c) The Company does not have transactions with any struck off companies during the current and previous year.

(d) The Company has not traded or invested in Crypto currency or Virtual Currency during the current and previous year.

(e) 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

(f) 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,

(g) The Company does not have 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.

(h) The Company has not been declared as a wilfuldefaulter by any bank or financial institution or government or any government authority.

(i) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

(j) The Company does not have any pending litigations or claims that would give rise to any contingent liabilities or contingent assets as at the reporting date.

(k) The company has not filed any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013 with any Competent Authority.

(l) The Holding Company is not a Core Investment Company as defined in the regulations made by Reserve Bank of India. The Company has total one Core Investment companies as part of the group.

(m) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

47 The Company has defined process to take daily back-up of books of account maintained electronically and maintain the back-up of such books of account in a hard disk for which the logs of such back-up were not being kept. However, management is in the process of con-figuring its systems to ensure that logs of daily back up for books of account is being maintained on a daily basis on the server located in India.

The Company has implemented the necessary controls and documentations regarding backup from April 11, 2025.

48 The Company has used SAP HANA and MHEA accounting software, for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the period for all relevant transactions recorded in the software, except as stated below:

(a) The audit trail feature was not enabled for direct changes to data when using certain access rights. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with in respect of the SAP HANA accounting software where audit trail has been enabled.

(b) The audit trail feature was not enabled for MHEA system. Further, Service Organization Controls report from the third-party software service provider in respect of MHEA software is not available with the Company. In the absence of service organisation control report it cannot be determined whether audit trail feature of the said software was enabled and operated throughout the year.

Additionally, the audit trail of prior year(s) has been preserved by the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective years.

49 Subsequent Event after reporting date:

There is no significant adjusting event that occurred after end of the reporting period which require any adjustment or disclosure in the financial statement subsequent to the reporting date other than that disclosed in respective note.