j. Provisions, contingent liabilities and contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to refect the current best estimates. Contingent liabilities are not recognised in the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.

k. Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amount of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents.

As per our report of even date

For Venus Shah & Associates For and on behalf of the Board

Chartered Accountants

Firm's Registration No. 120878W

Sd/- Sd/-

Shashank Mewada Atul Arya Agrahari

Chief Financial Officer Company Secretary

PAN: AQAPM8094Q PAN: AMMPA1939Q

^Sd/- Place: Mumbai Place: Mumbai

^{Manish S}. ^Patil Date: 18 May 2024 Date: 18 May 2024

Partner

Membership No. 140937

UDIN: 24140937BKDHZT8701 ^{Sd/- Sd/-}

Ashish Kukreja Mukesh Kumar Mishra

Director Director

03068422 06450500

Place: Mumbai Place: Mumbai Place: Mumbai

Date: 18 May 2024 Date: 18 May 2024 Date: 18 May 2024

31.1 The debt-equity ratio has improved due to debt repayment and an increase in retained earnings during the year. Debt repayment amounted to ' 4.15 Lakhs, and retained earnings increased by ' 374.65 Lakhs, Leading to the improved debt-equity ratio.

31.2 The Company was experiencing a Longer operating cycle due to industry patterns during the year which increased the time period in which the Company converts its receivables into cash. However, by end of the year, the Company had reduced this operating cycle and expects a higher trade receivables turnover ratio in the coming period.

31.3 The Company improved its performance and worked on cost optimization throughout the year, resulting in an enhanced ratio. Additionally, the Company changed its accounting policy, starting to recognize unbilled revenue from FY 23-24, which further improved this ratio.

31.4 The Company's ROCE has deteriorated due to fall at EBIT level compared to previous year.

32. DISCLOSURE WHERE COMPANY HAS GIVEN LOAN OR INVESTED TO OTHER PERSON OR ENTITY TO LEND OR INVEST IN ANOTHER PERSON OR ENTITY

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 persons or entities, including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

33. DISCLOSURE WHERE COMPANY HAS RECEIVED FUND FROM OTHER PERSON OR ENTITY TO LEND OR INVEST IN OTHER PERSON OR ENTITY

No funds have been received by the Company from any persons or entities, including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Funding Parties or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

34. OTHER STATUTORY DISCLOSURES AS PER THE COMPANIES ACT, 2013

1. The Company has not traded in crypto currency or virtual currency during the year.

2. The Company is not declared a willful defaulter by any bank or financial institution or other lenders.

3. The Company has no transactions with the struck off Companies under Section 248 or 560 of the Act.

4. No proceedings were initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988.

5. There are no ultimate beneficiaries to whom the Company has lent/invested nor received any fund during the year within the meaning of Foreign Exchange Management Act, 1999 and Prevention of money Laundering Act, 2002.

6. The Company has Compliance related to number of layers prescribed under clause (87) of Section 2 of the Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017.

7. There was no transaction in the Company which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

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

9. The Company is not covered under Section 135 of the Companies Act, hence Corporate Social Responsibility (CSR) is not applicable to the Company.

35. REGROUPING

Previous years figures are regrouped or rearranged or reclassified wherever necessary in order to confirm to the current years grouping and classifications.

As per our report of even date

For Venus Shah & Associates For and on behalf of the Board

Chartered Accountants

Firm's Registration No. 120878W

Sd/- Sd/-

Shashank Mewada Atul Arya Agrahari

Chief Financial Officer Company Secretary

_Sd/_- PAN: AQAPM8094Q PAN: AMMPA1939Q

M _i h s _P -n Place: Mumbai Place: Mumbai

Maanner Date: 18 May 2024 Date: 18 May 2024

^{Membership No. 140937} _{Sd/- Sd/-}

UDIN: 24140937BKDHZT8701 _A -

Ashish Kukreja Mukesh Kumar Mishra

Director Director

03068422 06450500

Place: Mumbai Place: Mumbai Place: Mumbai

Date: 18 May 2024 Date: 18 May 2024 Date: 18 May 2024