(k) Provisions
General

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 lo settle the obligation and a reliable estimate can be made of the amount of the
obligation, When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is
recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presenter! In the statement
of profit and loss net of any reimbursement.

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. Wl>cn discounting is used, the increase In the provision due to the passage ol time is recognised as a finance cost.

Warranty provisions

The Company provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these
assurance-type warranties are recognised when the product is sold, or the service is provided to the customer. Initial recognition is based on historical
experience. The initial estimate of warranty-related costs is revised annually.

(l) Retirement and other employee benefits

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than the contribution
payable to the provident fund. The Company recognises contribution payable to the provident fund scheme as an expense, when an employee renders
the related service.

The Company operates a defined benefit gratuity plan In India. The cost of providing benefits under the defined benefit plan Is determined using the
projected unit credit method.

Remeasurements, comprising of actuarial gains and losses, are recognised linmcdialcly In the balance sheet with a corresponding debit or credit to
retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
Accumulated leave, which is expected to be utilized within the next 12 months, is treated as short-term employee benefit. The Company measures the
expected cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has accumulated at the
reporting date. The Company recognises expected cost of short-term employee benefit as an expense, when an employee renders the related service.

The Company treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee benefit for measurement
purposes. Such long-term compensated absences are provided for based on the actuarial valuation using the projected unit credit method at the
reporting date. Actuarial gainsflosses are immediately taken to the statement of profit and loss and are not deferred. The obligations are presented as
current liabilities in the balance sheet If the entity does not fiave an unconditional right to defer the settlement for at least twelve months after the
reporting date.

Longevity bonus liability is accrued for certain class of key managerial persons, as may be decided by the Board from time to time to recognise their
immense contribution in driving the organisation, and payable upon their resignation or exit from the Company or substantial changes in the
composition of the parent company's Board. Amount to be payable Is calculated based on latest remuneration of the year multiplied by number of
years. Longevity bonus is recognised as liability at the present value of the defined benefit obligation using actuarial valuation at the Balance sheet
date.

(m) Fair value measurement

Fair value Is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value,
maximising the use of relevant observable Inputs and minimising the use of unobservable Inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy,
described as follows, based on the lowest level Input that Is significant to the fair value measurement as a whole:

• Level I - Quoted (unadjusted) market prices In active markets for identical assets or liabilities

• Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

• Level i - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

(n) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost. The classification of financial assets at initial
recognition depends on the financial asset's contractual cash flow characteristics and the Company's business model for managing them.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified as financial assets at amortised cost (debt instruments). A 'financial asset’ 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 bold 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.

After initial measurement, such financial assets are subsequently measured at amortised cost using Ihe 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.

The Company recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECls are
based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to
receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of
collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognised In two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs
arc provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures
for which there has been a significant increase In credit risk since initial recognition, a loss allowance is required for credit losses expected over the
remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

For trade receivables, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk,
but instead recognises a loss allowance based on lifetime ECLs at each repotting date. The Company has established a provision matrix that is based on
its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as borrowings, payables or other financial liabilities, as appropriate. All financial liabilities are
recognised initially at fair value, net of directly attributable transaction costs.

Subsequent measurement

For purposes of subsequent measurement, financial liabilities are classified as financial liabilities at amortised cost (loans and borrowings).

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate ("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 »s Included as finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation under (Ik* 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.

Financial guarantee contracts

Financial guarantee contracts issued by the Company are those contracts that require a payment to be made to reimburse the holder for a loss It Incurs
because the specified debtor fails to make a payment when due in accordance with the terms of a debt instrument Financial guarantee contracts are
recognised initially as a liability at fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee.
Subsequently, the liability is measured at the higher of the amount of loss allowance determined as per impairment requirements of Ind AS 109 and the
amount recognised less, when appropriate, the cumulative amount of income recognised in accordance with the principles of Ind AS 115.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet If there is a currently enforceable
legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities
simultaneously.

(o) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three months or
less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.

(p) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss attributable to equity holders of parent company (after deducting preference
dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period

The weighted average number of equity shares outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue,
share split, and reverse share split (consolidation of shares) that have changed the number of equity shares outstanding, without a corresponding
change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders of the Company and
the weighted average number of shares outstanding during the period are adjusted for the effects ol all dilutive potential equity shares.

(q) Investment In subsidiaries

Investment In subsidiaries are earned at cost less accumulated impairment losses, if any. Where an indication of impairment exists, the carrying
amount of the investment is assessed. Where the carrying amount of an investment is greater than its estimated recoverable amount, it is written
down immediately to its recoverable amount and the difference is transferred to the standalone statement of profit and loss. On diposalof
investment, the difference between the net disposal proceeds and the carrying amount Is charged or credited to the standalone statement of profit
and loss.

(r> Interest income is recognised using effective Interest rate method. The effective Interest rate is rate that exactly discounts estimated future cash
receipts through the expected life of the financial asset to the gross carrying amount of a financial asset.

2.3 Critical accounting estimates and judgements

The Company makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical
experience and other factors, including expectations of luture events that are believed to be reasonable under the circumstances. In the future, actual
experience may differ from these estimates and assumptions. The estimates and assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(a) Revenue recognition - estimating variable consideration

If the consideration in a contract Includes a variable amount, the Company estimates the amount of consideration to which it will be entitled in
exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until It is highly
probable that a significant revenue reversal In the amount of cumulative revenue recognised will not occur when the associated uncertainty with the
variable consideration is subsequently resolved.

<b) Leases - estimating the incremental borrowing rate (IBR)

The Company cannot readily determine the interest rate implicit in the lease, therefore, it uses its incremental borrowing rale (IBR) to measure tease
liabilities. The IBR is the rate of Interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds
necessary lo obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore lellects what the
Company 'would have to pay’, which icquiies estimation when no observable rates are available. The Company estimates the IBR using observable
Inputs (such as market interest rates) when available and Is required to make certain entity-specific estimates (such as the company's credit rating).

(c) Provision for expected credit losses (ECLs) of trade receivables and contract assets

The Company uses a provision matrix to calculate ECLs for trade receivables. The provision rates are based on days past due for Its customer segments
that have similar loss patterns. The provision matrix is initially based on the Company's historical observed default rates. At every repotting date, the
historical observed default fates are updated and changes in the forward-looking estimates are analysed. The amount of ECLs is sensitive to changes in
circumstances and of forecast economic conditions. The Company’s historical credir loss experience and forecast of economic conditions may also not
be representative of customer's actual default in the future.

(d) Defined benefit plan (post-employment gratuity)

The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using actualial valuations. An actuarial
valuation Involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount
rate; future salary increases and mortality rates. Cue to the complexities involved In the valuation and Its long-term nature, a defined benefit
obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date

(e) Useful lives of property, plant and equipment and intangible assets

Management reviews its estimate of the useful lives of property, plant and equipment and intangible assets at each reporting date, based on the
expected utility of the assets. Uncertainties in these estimates relate to technical and economic obsolescence that may change the utility of property,
plant and equipment, right of use assets and intangible assets.

(f) Provision for warranties

The Company s product warranty obligations and estimations thereof are determined using historical Information of claims received up to the year end
and the management s estimate of further liability to be incurred In this regard during the warranty period, computed on the basis of past trend oi
such claims.

(g) Deferred tax assets

Valuation of deferred tax assets is dependent on management's assessment of future recoverability of the deferred tax benefit. Expected
recoverability may result from expected taxable income in the future, planned transactions or planned optimising measures. Economic conditions may
change and lead to a different conclusion regarding recoverability.

7.1 The Company had incorporated Innomech Aerospace Toolings Private Limited on October 26, 2018 at Aerospace Park SEZ, Devanhalli,
Bengaluru. This entity is a wholly owned by the Company and intially subscribed 999 shares at INR 100 each. The minority share of 1 share
@ INR 100 is held by Anil Kumar Puthan (Nominee share holder). Further, during FY 22-23, the company additionally subscribed 1,00,000
shares at INR 100 each

7.2 The Company had incorporated a new subsidiary company by name Unimech Healthcare Private Limited on April 27, 2022 in Peenya
Industrial Area, Bengaluru. This entity is wholly owned by the Company and having 999 shares @ INR 100 each subscribed. The minority
share of 1@ INR 100 is held by Ramakrishna Kamojhala (Nominee share holder). The said investment was disposed during the year ended
March 31,2024.

7.3 The cost of investments in Innomech Aerospace Toolings Private Limited includes an amount of Rs. 72.82 Lakhs (March 31, 2023: Rs.158.33
Lakhs; April 1, 2022: Rs.103.33 Lakhs) relating to fair value of guarantees issued by the Company to various Banks and Financial Institutions
for borrowings availed by Innomech Aerospace Toolings Private Limited.

41.1 The Company it exposed to various financial risks. These risks are categorised into market risk, credit risk and liquidity risk, the Companys risk management is coordinated
by the board ol directors and focuses on secuimg tong mm and short term cash flow* The Company does not engage in trading of financial assets for speculative purposes.

41.2 Market risk

Market risk is the risk of loss of future earnings, fair value or future cash Hows that may result from a change ill the price of the financial Instrument. The value of a financial
Instrument may change as a result of changes In thp interest rates, foreign currency exchange rates 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 receivable and payables and loans and
borrowings. The Company is exposed to market risk primarily related to foreign exchange rate risk {currency risk! and interest rate risk. Thus the Company's exposure to
market risk Is a function of borrowing activities, revenue gcneiating and opciating activities in foreign currencies.

(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 rates. The Company
exposure to the risk of changes In market interest rates relates primarily to the Company's long-term debt obligations with floating interest rates The Company manages its
interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings.

The Company manages its Interest rate risk by having a balanced portfolio of fixed borrowings amounting to Nil (Marcn 31. 2023: INR 47.91 lakhs. April 1. 2022: INR 60.53
lakhs) and variable rate borrowings amounting to INR 200.00 lakhs (March 31, 2073: INR 315 60 lakhs. April 1, 2077.: INR 376.23 lakhs)

(a) Lease liability and ROU assets

Under previous IGAAP, Leases are classified as operating leases and lease rentals under operating leases are recognised in the statement of profit or
loss on a straight line basis over tease term.

Company as a Lessee

As per Ind AS 116, Leases in which substantially all the risks and rewards of ownership are transferred to the lessee are classified as finance leases.
Finance leases are capitalised at the lease's inception at the fair value of the leased property or, if lower, the present value of the minimum lease
payments. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to the profit or toss over the lease
period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Further, lessee shall recognise a
ROU asset and lease liability. The Company has adopted modified retrospective approach on the date of transition in arriving at the ROU asset and
lease liability.

(b) Investment in subsidiary

The Company has elected to continue with the carrying value of Investment in subsidiary as per the Indian GAAP and use that carrying value as the
deemed cost of the investment in subsidiary.

(^c) Security deposits

Under the Indian GAAP, interest free security deposits for borrowings (that are refundable in cash on completion of the borrowings term) are recorded
at their transaction value. Under Ind AS, all financial assets are required to be recognised at fair value using Effective Interest Rate (EIR) method at
initial recognition. Accordingly, the Company has fair valued these security deposits under Ind AS. Difference between the fair value and transaction
value of the security deposit has been recognised as prepaid expenses. On this fair valued deposit, interest is accounted annually at EIR which will have
an incremental impact on the interest income and security deposit every year. Further, portion of security deposit is shown as other Intangible Asset
which will be amortised over the period of concession on straight line basis every year.

(d) Expected credit loss

Under Indian GAAP, the Company had recognised provision on trade receivables based on the expectation of the Company. Under Ind AS, the Company
has to provide loss allowance on receivables based on the Expected Credit Loss (ECL) model which is measured following the "simplified approach". The
Company uses an allowance matrix to measure the expected credit losses of trade receivables.The loss rates are computed using a roll rate' method
based on the probability of receivable progressing through successive stages till full provision for the trade receivable is made. Currently Company is
not recognising loss allowance under IGAAP.

(^e) Remeasurements of post-employment benefit obligations

Both under Indian GAAP and Ind AS, the Company recognised costs related to its post-employment defined benefit plan on an actuarial basis. Under
Indian GAAP, the entire cost, including actuarial gains and losses, are charged to the statement of profit and loss. Under Ind AS, re-measurements
[comprising of actuarial gains and losses] are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings
through OCI.

(f) Deferred Tax

Under Indian GAAP, deferred tax accounting was done using the income statement approach, which focuses on differences between taxable profits and
accounting profits for the period. Under Ind AS, accounting of deferred taxes is done using the Balance Sheet approach, which focuses on temporary
differences between the carrying amount of an asset or liability in the balance sheet and its tax base and Deferred tax has been recognized on the
account of adjustments made due to application of Ind AS.

(g) Borrowings

Under Indian GAAP borrowings are recorded at their transaction value. Under Ind AS, all financial liabilities are required to be recognised at fair value
using Effective Interest Rate (EIR) method at initial recognition. Accordingly, the Company has fair valued these borrowings under Ind AS. Difference
between the fair value and transaction value of the borrowings has been recognised as prepaid loan processing charges which has been adjusted to
borrowings. These prepaid loan processing charges are amortised over the term of the borrowings at EIR which will have an incremental impact on the
finance cost and prepaid loan processing charges every year.

(h) Corporate guarantee

Under Indian GAAP there is no specific accounting guidance for corporate guarantee transactions among the group companies are not recognised except
such transactions are disclosed. However under Ind AS such transactions are recognised as per ind AS 109. Company has given guarantee to its subsidiary
and on the date date of transition, financial guarantee contract liability has been recognised and corresponding impact has been treated as investment in
subsidiary. For subsequent measurement, financial gurantee commission income and amortisation of interest on financial guarantee commission has been
recognised in the profit and loss.

(i) Convertible debentures

Under Indian GAAP convertible debentures issued are accounted as liability and interest paid is recognised as expense. However as per Ind AS 109,
covertibte debentues are analysed as to whether it is financial liability or equity or compound financial instrument. In the given case such debentures are
accounted as financial liabilty.

(j) Material regrouping and adjsutments

Appropriate regroupings and other adjustments have been made in the Standalone Balance Sheet, Standalone Statement of Profit & loss, Standalone
Statement of Cashflows, wherever required, by reclassification and adjustments of corresponding items of incomes, expenses, assets, liabilities and
cashflows, in order to bring them in line with the accounting policies and classification as per Ind AS Standalone Financial Statements of the Company
for the years ended March 31, 2023 and April 01, 2022 prepared in accordance with Schedule III of Companies Act, 2013, requirements of Ind AS 1 and
other applicable Ind AS principles and the requirements of the Securities and Exchange Board of India (Issue of Capital 6 Disclosure Requirements)
Regulations 2018, as amended.

(k) Prior Period Adjustments

The Company has certain accruals of employee benefit expenses, deferred lax and restatement of forex balances which were not accounted in the year
when the expense / restatement was incurred. During the current year, on transition to Ind AS, the Company has rectifed these errors by restating the
transition date balance sheet as at April 01, 2022. Refer note 37.1

42.2 Fair value hierarchy

The fair value measurement of the Group’s financial and non-financial assets and liabilities utilises market observable
inputs and data as far as possible. Inputs used in determining fair value measurements are categorised into different
levels based on how observable the inputs used in the valuation technique utilised are (the ‘fair value hierarchy’):

- Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2 - Inputs 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 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

42.3 Methods and assumptions

The management assessed that the fair value of cash and cash equivalents, trade receivables, other financial assets,
trade payables, other financial liabilities and borrowings approximate the carrying amount largely due to short-term
maturity of this instruments.

43 Other regulatory information

43.1 Title deeds of immovable properties not held in name of the Company

The Company does not have any immovable properties whose title deeds are not held in the name of the Company.

43.2 Details of benami property held

The Company does not have any benami property, where any proceeding has been initiated or pending against the Company for
holding any benami property.

43.3 Borrowings secured against current assets

The Company has borrowings from banks or financial institutions on the basis of security of current assets.

43.4 Wilful defaulter

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

43.5 Relationship with struck off companies under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560
of Companies Act, 1956.

43.6 Registration of charges or satisfaction with Registrar of Companies

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

43.7 Compliance with number of layers of companies

The Group has complied with the number of layers prescribed under section 2(87) of the Companies Act, 2013 read with Companies
(Restriction on Number of Layers) Rules, 2017.

43.8 Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme(s) of arrangement which has an accounting impact on current or previous financial
year.

43.9 Utilisation of borrowed funds and securities premium:

No funds have been advanced or loaned or invested by the Company to or in any other person(s) or entity(ies), including foreign
entities (“intermediaries") with the understanding, that the intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

43.10 Undisclosed income

The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or
disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961.

43.11 Details of crypto currency or virtual currency

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

43.12 Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the Company from banks and financial institutions have been applied for the purposes for which such
borrowings were taken.

46 Capital management

The Company's objectives when maintaining capital are:

|a) to safeguard the entity's ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for
other stakeholders, and

(b) to provide an adequate return to shareholders by pricing products and services commensurately with the level of risk.

The Company sets the amount of capital it requires in proportion to risk. The Company manages its capital structure and makes adjustments to it
in the light of changes In economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital
structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares, or sell assets
to reduce debt.

47 The Code on Social Security 2020

The Code on Social Security 2020 (‘the Code') relating to employee benefits, during the employment and post-employment, has received
Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the Ministry of Labour and
Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is
yet to be notified and rules for quantifying the financial impact are also not yet issued. The Company will assess the impact of the Code and will
give appropriate impact 1n the financial statements in the period in which the Code becomes effective and the related rules to determine the
financial impact are published.

50 Segment Reporting

(a) The Company's main objective is to carry on the business of manufacturing toolings and components to be used in the aerospace sector. The Board
of Directors (considered as Chief Operating Decision Maker) reviews these activities under the context of Ind AS 108 Operating Segments as one
single operating segment to evaluate the overall performance of the Group.

(b) Refer to note 27.1 for breakup of the Company's revenue by primary geographical market.

(c) During the year ended 31 March 2024, revenue from operations of three customers (March 31, 2023: two) customers represented approximately
35.26% (March 31, 2023: 60.32%), 28.38% (March 31, 2023: 10.17%) and 14.50% (March 31, 2023: Nil) of the Company's revenue from operations.

51 Subsequent events

i) The Company has converted itself from Private Limited to Public Limited, pursuant to a special resolution passed in the extraordinary general
meeting of the shareholders of the Company held on March 04, 2024 and Consequently the name of the Company has changed to Unimech Aerospace
and Manufacturing Limited pursuant to a fresh certificate of incorporation issued by ROC on June 21, 2024.

ii) The Company has incorporated a new wholly owned subsidiary in the United States of America by the name of Unimech Global Manufacturing
Solutions Inc for which the certificate of incorporation was issued on May 29, 2024

iii) The Company has constituted an audit committee on July 3, 2024 as mandated under the Provisions of the Companies Act, 2013 and relevant
rules thereunder.

As per our report of even date

For M S K A a Associates For and on behalf of the Board of Directors

Chartered Accountants Unimech Aerospace and Manufacturing Limited

Firm Registration No: 105047W (formerly Unimech Aerospace and Manufacturing Private Limited)

CIN: U30305KA2016PLC095712

w 4/ /pm

PankajS Bhauwala u O >_v , ^ jj Ramakrishna Kamojhala Anil Kumar Puttan

Partner ___Director and CFO Chairman & Managing Director

Membership No: 233552 DIN: 07004517 DIN: 07683267

Place: Bengaluru —--—Place: Bengaluru Place: Germany

Date: July 3, 2024 Date: July 3, 2024 Date: July 3, 2024

-j: ",i ,X

Krishnappayya Desai

Company Secretary / V-A

Membership No.: A61281 I n’ I BENGALURU j — I

Place: Bengaluru )

Date: July 3, 2024 vAA/