11. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT

ASSETS:

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

b) The amount recognised as a provision is the
best estimate of the consideration required to
settle the present obligation at the end of the

reporting period, taking into account the risks and
uncertainties surrounding the obligation.

c) 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.

d) Provisions for onerous contracts are recognized
when the expected benefits to be derived by
the Company from a contract are lower than the
unavoidable costs of meeting the future obligations
under the contract. Provisions for onerous contracts
are measured at the present value of lower of the
expected net cost of fulfilling the contract and the
expected cost of terminating the contract.

e) Contingent Assets and Contingent liabilities are
not provided for but are disclosed in the financial
statements at the end of each reporting period.

12. TAX EXPENSES:

CURRENTTAX

Provision for Current tax, on operational income, is made,
on the basis of deemed tonnage income of the company,
as per special provisions relating to shipping companies
under the Income Tax Act,1961.

Provision for Current tax on non-operational income is
made as per the provisions of the Income Tax Act 1961.

13. EARNINGS PER SHARE:

Basic EPS is computed by dividing the profit after tax
attributable to equity shareholders by the weighted
average number of equity shares outstanding during the
year / period.

Diluted EPS is computed by dividing the profit after
tax attributable to equity shareholders, as adjusted for
dividend, interest and other charges to expense or income
relating to the dilutive potential equity shares, by the
weighted average number of equity shares considered
for deriving basic EPS and the weighted average number
of equity shares which could have been issued on the
conversion of all dilutive potential equity shares.

As per our Report of even date For and on behalf of the Board of Directors

For Grandhy & Co

Chartered Accountants

Firm Regn No: 001007S -sd/- -sd/-

CA.Naresh Chandra Gelli Dr.Madhaiyaan Angamuthu,IAS Durgesh Kumar Dubey,IRTS

Partner Chairman Managing Director &CEO (A/c)

Membership No:201754

UDIN: 25201754BMHWNH8166 -sd/- -sd/-

Place: Visakhapatnam CMA.CA.P Uma Gandhi P. Chandra Kalabhinetri

Date:20/05/2025 Chief Financial Officer Company Secretary