2.11 Provisions and contingent liabilities

Provisions: A provision is recognised when the Company has a present obligation as a result of past events and it is
probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can
be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based
on the best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance
sheet date and adjusted to reflect the current best estimates.

Provisions for onerous contracts (i.e., contracts where the expected unavoidable costs of meeting the obligations under
the contract exceed the economic benefits expected to be received under it) are recognised when it is probable that cash
outflow of resources embodying economic benefits will be required to settle a present obligation as a result of an obligating
event based on a reliable estimate of such obligation.

Contingent liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either not
probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made, is
termed as a contingent liability.

2.12 Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions
of the instruments.

Financial assets and financial liabilities are initially measured at fair value except for trade receivables which are initially
measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial
assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are
added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition.
Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit
or loss are recognised immediately in profit or loss.

2.13 Financial assets

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value depending
on the classification of the Financial assets.

2.13.1 Classification of financial assets

Financial assets that meet the following conditions are subsequently measured at amortised cost (except for
financial assets that are designated at fair value through profit or loss on initial recognition):

• the asset is held within a business model whose objective is to hold assets in order to collect contractual
cash flows; and

• the contractual terms of the financial assets give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

For the impairment policy on financial assets measured at amortised cost, refer Note 2.13.3

Financial assets that meet the following conditions are subsequently measured at Fair Value Through Other
Comprehensive Income (“FVTOCI”) (except for financial assets that are designated as at fair value through
profit or loss on initial recognition):

• the asset is held within a business model whose objective is achieved both by collecting contractual
cash flows and selling financial assets; and

• the contractual terms of the financial assets give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

Interest income is recognised in profit or loss for FVTOCI financial assets. For the purposes of recognising
foreign exchange gains and losses, FVTOCI debt instruments are treated as financial assets measured at
amortised cost. Thus, the exchange differences on the amortised cost are recognised in profit or loss and
other changes in the fair value of FVTOCI financial assets are recognised in other comprehensive income and
accumulated under the heading of ‘Reserve for financial assets through other comprehensive income’. When
the investment is disposed of, the cumulative gain or loss previously accumulated in this reserve is reclassified
to profit or loss.

For the impairment policy on financial assets at FVTOCI, refer Note 2.13.3
All other financial assets are subsequently measured at fair value.

2.13.2 Financial assets at fair value through profit or loss (FVTPL)

Financial assets that do not meet the amortised cost criteria or FVTOCI criteria are measured at FVTPL. In
addition, financial assets that meet the amortised cost criteria or the FVTOCI criteria but are designated as at
FVTPL are measured at FVTPL.

A financial asset that meets the amortised cost criteria or debt instruments that meet the FVTOCI criteria may
be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a
measurement or recognition inconsistency that would arise from measuring assets or liabilities or recognising
the gains and losses on them on different bases. The Company has not designated any debt instrument as at
FVTPL.

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or
losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss
incorporates any dividend or interest earned on the financial asset and is included in the ‘Other income’ line
item. Dividend on financial assets at FVTPL is recognised when the Company’s right to receive the dividends
is established, it is probable that the economic benefits associated with the dividend will flow to the entity, the
dividend does not represent a recovery of part of cost of the investment and the amount of dividend can be
measured reliably.

2.13.3 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 Financial assets that are initially measured at fair value with
subsequent measurement at amortised cost.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance for trade receivables.
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 ECLs at each reporting date, right from its initial
recognition. For recognition of impairment loss on other financial assets and risk exposure, the Company
determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk
has not increased significantly, twelve month ECL is used to provide for impairment loss. However, if credit
risk has increased significantly, lifetime ECL is used. If, in the 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 a twelve month ECL.

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 Effective Interest Rate (EIR).

Allowance for Trade receivables

The Company follows a ‘simplified approach’ (i.e. based on lifetime ECL) for recognition of impairment loss
allowance on Trade receivables. For the purpose of measuring lifetime ECL allowance for trade receivables,
the Company estimates irrecoverable amounts based on the ageing of the receivable balances and historical
experience. Individual trade receivables are written off when management deems them not to be collectible.

2.13.4 Derecognition of financial assets

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset
expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the
asset to another party. If the Company neither transfers nor retains substantially all the risks and rewards of
ownership and continues to control the transferred asset, the Company recognises its retained interest in the
asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the
risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the
financial asset and also recognises a collateralised borrowing for the proceeds received.

On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and
the sum of the consideration received and receivable and the cumulative gain or loss that had been recognised
in other comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss
would have otherwise been recognised in profit or loss on disposal of that financial asset.

2.13.5 Foreign exchange gains and losses

The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of each reporting period. For foreign currency denominated financial
assets measured at amortised cost and FVTPL, the exchange differences are recognised in profit or loss.

2.13.6 Investment in subsidiaries

Investment in subsidiaries is carried at cost less provision for diminution in the separate financial statements.

2.14 Financial liabilities

Classification as debt

Debt are classified as financial liabilities in accordance with the substance of the contractual arrangements and the
definitions of a financial liability

Financial liabilities

2.14.1 Financial liabilities subsequently measured at amortised cost

Financial liabilities that are not held-for-trading and are not designated as at FVTPL, are measured at amortised
cost at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are
subsequently measured at amortised cost are determined based on the effective interest method. Interest
expense that is not capitalised as part of costs of an asset is included in the ‘Finance costs’ line item.

2.14.2 Foreign exchange gains and losses

For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the
end of each reporting period, the foreign exchange gains and losses are determined based on the amortised
cost of the instruments and are recognised in profit or loss.

2.14.3 Derecognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company’s obligations are discharged,
cancelled or have expired. An exchange between with a lender of debt instruments with substantially different
terms is accounted for as an extinguishment of the original financial liability and the recognition of a new
financial liability. Similarly, a substantial modification of the terms of an existing financial liability (whether or
not attributable to the financial difficulty of the debtor) is accounted for as an extinguishment of the original
financial liability and the recognition of a new financial liability. The difference between the carrying amount of
the financial liability derecognised and the consideration paid and payable is recognised in profit or loss.

2.15 Derivative financial instruments

The Company enters into derivative financial instruments to manage its exposure to foreign exchange rate risks through
foreign exchange forward contracts.

Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently
remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss
immediately.

2.16 Use of estimates

The preparation of the financial statements in conformity with Ind AS requires the Management to make estimates and
assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported
income and expenses during the period. The Management believes that the estimates used in preparation of the financial
statements are prudent and reasonable. Future results could differ due to these estimates and the differences between
the actual results and the estimates are recognised in the periods in which the results are known / materialise.

2.17 Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an
original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible
into known amounts of cash and which are subject to insignificant risk of changes in value.

2.18 Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted
for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
The cash flows from operating, investing and financing activities of the Company are segregated based on the available
information.

2.19 Investments

Long-term investments (excluding investment properties), are carried individually at cost less provision for diminution,
other than temporary, in the value of such investments. Current investments are carried individually, at fair value. Cost of
investments include acquisition charges such as brokerage, fees and duties.

2.20 Segment Reporting

Ind AS 108 establishes standards for the way that public business enterprises report information about operating segments
and related disclosures about products and services, geographic areas, and major customers. Based on the ‘management
approach’ as defined in Ind AS 108, the Chief Operating Decision Maker (CODM) evaluates the Company’s performance
based on an analysis of various performance indicators by business segments and geographic segments.

The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the
Company. Revenue and expenses have been identified to segments on the basis of their relationship to the operating
activities of the segment. Revenue and expenses, which relate to the Company as a whole and are not allocable to
segments on a reasonable basis, is included as “Unallocated”. Segment assets includes all the assets except for deferred
tax assets which are treated as unallocable.

The dominant source of risk and returns of the enterprise is considered to be the business in which it operates, viz. -
Information Technology (IT) Services. The sub businesses are fully aligned to IT Services business of the Company and

the same are being viewed by the management as a single business segment. Being a single business segment company,
no primary segment information is being provided.

2.21 Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders
by the weighted average number of equity shares outstanding during the period. The weighted average number of equity
shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other
than the conversion of potential equity 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 and the weighted average number of shares outstanding during the period
is adjusted for the effects of all dilutive potential equity shares.

2.22 Project work expenses

Project work expenses represents amounts charged by sub-contractors. These expenses are recognised on an accrual
basis.

2.23 GST input credit

GST input credit is accounted for in the books in the period in which the underlying service received is accounted and
when there is reasonable certainty in availing/ utilising the credits.

2.24 Operating Cycle

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and
other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of services and the time
between the acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has
ascertained its operating cycle as 12 months for the purpose of current - non current classification of assets and liabilities.

2.25 Government grants

Government grants are not recognised until there is reasonable assurance that the Company will comply with the conditions
attaching to them and that the grants will be received. Government grants that are receivable as compensation for
expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no
future related costs are recognised in profit or loss under respective head in the period in which they become receivable.

2.26 Recent accounting pronouncements

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. For the year ended March 31,2025, MCA has notified
Ind AS - 117 Insurance Contracts 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 the new pronouncements and based on its
evaluation has determined that it does not have any significant impact in its financial statements.

3. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 2, the management of the Company is
required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not
readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future
periods if the revision affects both current and future periods.

3.1 Critical judgements in applying accounting policies

The following are the critical judgements, apart from those involving estimations, that the management have made in the
process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised
in the financial statements.

i) Impairment of investment in subsidiaries- Determining whether investment in subsidiaries is impaired requires an
estimation of the value in use of the subsidiaries. The value in use calculation requires the management to estimate
the future cash flows expected to arise from the subsidiaries operations and a suitable discount rate in order to
calculate present value. Where the actual future cash flows are less than expected, a material impairment loss may
arise. No impairment for investment in subsidiaries has been identified during the year.

ii) Income taxes- The Company has tax jurisdiction in India. Significant judgments are involved in determining the
provision for income taxes, including the amount expected to be paid or recovered in connection with uncertain tax
positions. Also refer to note 27.

iii) Estimation of defined benefit obligation and other employee obligations- Employee benefit obligations are measured
using actuarial methods. This requires various assumptions including with respect to salary trends, attrition rate,
discounting factor etc. The Company engages third party qualified valuers to perform the actuarial valuation.

Note:

(i) During the year ended March 31,2024, the Board of Directors of the Company had considered and recommended Interim
dividend of INR 15 per equity share (face value of INR 10 each) amounting to INR 16,711 for the financial year ending
March 31, 2024 at their meeting held on July 10, 2023 and the same was approved by the shareholders at their annual
general meeting held on August 25, 2023. Also the Board of Directors of the Company at their meeting held on February
13, 2024, had approved second interim dividend of INR 15 per equity share (face value of INR 10 each) amounting to INR
16,711 for the financial year ending March 31, 2024. These dividends had been paid during the year ended March 31,

2024.

(ii) The Board of Directors of the Company had considered and recommended final dividend of INR 4 per equity share (including
special dividend of INR 2 per equity share) (face value of INR 10 each) amounting to INR 4,456 for the financial year ended
March 31,2024 at their meeting held on May 23, 2024 and the same was approved by the shareholders at their annual
general meeting held on July 24, 2024. The aforesaid dividend was paid on July 30, 2024.

(iii) The Board of Directors of the Company has considered and recommended final dividend of INR 2 per equity share (face
value of INR 10 each) amounting to INR 2,228 for the financial year ended March 31,2025 at their meeting held on May 21,

2025. The recommended final dividend on equity shares is subject to approval of shareholders at the ensuing annual
general meeting.

30 EMPLOYEE BENEFITS EXPENSE

(Refer note 2.6)

(a) Defined Contribution Plans

Provident Fund and Other Funds:. During the year, the Company has recognised Rs. 80 (2024: Rs. 85) in the Statement
of Profit and Loss relating to provident fund and other funds, which is included in the ‘Contribution to provident and other
funds’.

(b) Defined Benefit Plan

Gratuity (funded):.The Company provides for gratuity, a defined benefit plan (the “gratuity plan”) covering eligible employees
in accordance with the Payment of Gratuity Act, 1972. The gratuity plan provides a lump sum payment to vested employees
at retirement or termination of employment based on the respective employee’s last drawn salary and years of employment
with the Company.

The Company is exposed to various risks in providing the above gratuity benefit which are as follows:

Interest risk: A decrease in the bond interest rate will increase the plan liability.

Investment risk : The probability or likelihood of occurrence of losses relative to the expected return on any particular
investment.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the
mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants
will increase the plan’s liability.

Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan
participants. As such, an increase in the salary of the plan participants will increase the plan’s liability.

The following tables summarise the components of expense recognised in the Statement of Profit and Loss and amounts
recognised in the Balance Sheet for the gratuity plan:

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation
as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions
may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been
calculated using the projected unit credit method at the end of-the reporting period, which is the same as that applied
in calculating the defined benefit obligation liability recognised in the balance sheet.

(1 FINANCIAL INSTRUMENTS

31.1 Capital management

The Company manages its capital to ensure that it will be able to continue as a 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 is fully funded by equity.

31.5.1 Foreign currency sensitivity analysis

The Company is mainly exposed to USD.

The following table details the Company’s sensitivity to a 10% increase and decrease in the Rs. against the relevant
foreign currencies. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management
personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates.
The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their
translation at the period end for a 10% change in foreign currency rates. The sensitivity analysis includes external loans
as well as loans to foreign operations within the Company where the denomination of the loan is in a currency other
than the functional currency of the lender or the borrower. A positive number below indicates an increase in profit or
equity where the Rs. strengthens 10% against the relevant currency. For a 10% weakening of the Rs. against the
relevant currency, there would be a comparable impact on the profit or equity, and the balances below would be
negative.

* Others include currencies such as CRC, PLN and GBP.

In management’s opinion, the sensitivity analysis is unrepresentative of the inherent foreign exchange risk because the
exposure at the end of the reporting period does not reflect the exposure during the year. This is mainly attributable to
the exposure outstanding on USD receivable and payable in the Company at end of the reporting period.

31.6 Interest rate risk management

The Company is exposed to interest rate risk because the Company lend/ borrow funds at fixed interest rates. There is
no exposure to market rate fluctuations.

The Companies exposures to interest rates on financial assets and financial liabilities are detailed in the liquidity risk
management section of this note.

31.7 Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the
Company. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient
collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses other
publicly available financial information and its own trading records to rate its major customers. The Company’s exposure
and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded
is spread amongst approved counterparties.

T rade receivables consist various customers, spread across diverse industries and geographical areas. Ongoing credit
evaluation is performed on the financial condition of accounts receivables.

The Company does not have significant credit risk exposure to any single counterparty.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with
high credit-ratings assigned by international credit-rating agencies.

31.8 Liquidity risk management

The Company manages liquidity risk by maintaining adequate reserves and banking facilities, by continuously monitoring
forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

31.8.1 Liquidity and interest risk tables

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with
agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities
based on the earliest date on which the Company can be required to pay. The tables include both interest and principal
cash flows.

Notes:

(a) Represents various income tax demands under appeal and pending rectification.

(b) The Company had received a Show Cause Notice (‘SCN’) from the Commissioner of Service Tax, Bangalore in October
2012 proposing a demand of service tax of Rs. 2,359 on import of certain services made by company during the FYs 2007¬
08 to 2011-12. In March 2013, a suitable reply to above SCN was filed by company stating the legal grounds in defence of
the matter. In November 2020, the adjudicating authority i.e. the Principal Commissioner of Service Tax, Noida passed the
Order In Original (‘OIO’) confirming the demand of service tax proposed in the SCN along with penalty of Rs. 2,359 and
applicable interest. The company has filed an appeal before CESTAT in Allahabad against above OIO in April, 2021 after
paying a pre-deposit amount of Rs. 177. In April 2025, CESTAT Allahabad has remanded back the matter to adjudicating
authority for re-adjudication. Also refer note 10.

(c) The Company has received demand order dated April 26, 2024, from the GST authority,Chennai relating to FY 2018-19 of
INR 14.37 along with penalty of INR 1.44 and applicable interest of INR 14.39 on account of disallowance of Input tax
credit. The Company has filed an appeal against the demand order before the appellate authority on July 25, 2024.

(d) The above contingent liabilities are possible obligation or present obligation that may (but probably will not) require an
outflow of resources.

(e) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending
resolution of the respective proceedings.

(f) The Company does not expect any reimbursements in respect of the above contingent liabilities.

37 The Company has strategic gross investment amounting to Rs. 11,224 (2024: Rs. 11,224) in Xchanging Solutions (USA) Inc,
USA (“XSUI”), its wholly owned subsidiary. Based on assessment of value in use from continuing operations, the Company has
made a provision of Rs. 6,045 (2024: Rs. 6,045) in prior years considering it to be “a decline other than temporary”. The
Company has tested the investments for impairment as at year end using cash flow projections based on financial forecast
approved by the management covering a five-year period. The Company considers Xchanging Solutions (USA) Inc as a
strategic long term investment and based on future growth projections, in the opinion of the management, the remaining value
of the investments is not required to be impaired. The company also has receivables (net of payables) from the subsidiary
amounting to Rs. 128 (2024: Rs. 65), based on the evaluation of recoverability, the net receivables is considered good and
recoverable.

38 TRANSFER PRICING

The Company has carried out international transactions with associated enterprises. The Company appoints independent
consultants to conduct a T ransfer Pricing Study to determine whether the transactions with associated enterprises undertaken
during the period are on an “arms length basis”. For the current year, the transfer pricing study shall be completed within the
permissible time under the legislation and adjustments, if any, arising from the transfer pricing study shall be accounted for as
and when the study is completed. However, the Management is confident that its international transactions with associated
enterprises are at arm’s length so that the aforesaid legislation/transactions will not have any material impact on the financial
statements, particularly on the amount of tax expense and that of provision for taxation for the current year.

41 During the year, the Company has obtained credit facility amounting to Rs.450 from Citibank. The facility from Citibank is
secured by a corporate guarantee provided by DXC Technology Company, USA, the ultimate holding company. The facility is
subject to annual renewal. No amount has been utilised till March 31,2025. Refer note 32.

42 As per the MCA notification dated August 5, 2022, the Central Government has notified the Companies (Accounts) Fourth
Amendment Rules, 2022. As per the amended rules, the Companies are required to maintain daily back-up of the books of
account and other relevant books and papers on servers physically located in India on a daily basis. The books of account
along with other relevant records and papers of the Company are maintained in electronic mode. These are readily accessible
in India at all times and currently a backup (except for audit trail related data for certain tables related to master data for core
ERP system) is maintained on a daily basis on servers physically located in India.

43 The company has used accounting softwares for maintaining its books of account for the year ended March 31,2025 which has
a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions
recorded in the software except that in respect of accounting software operated by third party service provider for maintaining
payroll records, independent auditor’s service organisation report did not cover the audit trail requirements. However, Independent
auditor’s service organisation report included a clean opinion for design, implementation and operating effectiveness of the
adequate controls for the purpose of internal financial controls with reference to the financial statements.

Further, there were no instances of audit trail feature being tampered with in respect of the accounting software for which the
audit trail feature was operating.

Additionally, the audit trail that was enabled and operated for the year ended March 31, 2024, has been preserved by the
Company as per the statutory requirements for record retention.

44 APPROVAL OF FINANCIAL STATEMENTS

The financial statements of the Company have been reviewed and recommended by the Audit Committee to the Board, and
approved by the Board of Directors at its meeting held on May 21,2025.

45 OTHER STATUTORY DISCLOSURES

45.1 As per Section 248 of the Companies Act, 2013, there are no balances outstanding with struck off companies.

45.2 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 person(s) or entity(ies), including foreign entities
(“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or
invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any
fund from any party(s) (Funding Party) with the understanding, whether recorded in writing or otherwise, that the
Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the
Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Reason for variation beyond 25%

Debt-equity ratio Mainly due to derecognition of lease liability in current year

Debt service coverage ratio Mainly due to higher EBITDA in previous year due to exceptional items Rs. 30,965,

dividend income from subsidiary Rs. 6,868 and derecognition of lease liability in
current year

Return on equity ratio Mainly due to higher profit in previous year due to exceptional items net of tax Rs.

27.522, dividend income from subsidiary Rs. 6,868 and increase in average
Shareholders’ equity in current year

Trade payable turnover ratio Mainly due to increase in total expenses and reduction in trade payable

Net profit ratio Mainly due to higher profit in previous year due to exceptional items net of tax Rs.

27.522, dividend income from subsidiary Rs. 6,868 and increase in revenue in current
year

Return on capital employed Mainly due to higher earnings before interest & tax in previous year due to exceptional

items Rs. 30,965, dividend income from subsidiary Rs. 6,868 and reduction in capital
employed in current year

Return on investment Mainly due to higher earnings before interest & tax in previous year due to exceptional

items Rs. 30,965, dividend income from subsidiary Rs. 6,868 and reduction in
shareholders’ equity & derecognition of lease liability in current year

46 PREVIOUS YEAR FIGURES

The financial statements have been prepared in accordance with the amended Schedule III and accordingly previous year’s
numbers have been regrouped/reclasses (as necessary) and incremental disclosures have been made to compare with current
year disclosures.

For Deloitte Haskins & Sells LLP For and on behalf of the Board of Directors

Chartered Accountants

Firm’s Registration No. 117366W/W-100018

Gurvinder Singh Swaminathan Swaminathan Shrenik Kumar Champalal

Partner Managing Director and Whole Time Director and

Membership No. 110128 Chief Executive Officer Chief Financial Officer

DIN: 10976726 DIN: 08099410

Place: Bengaluru Place: Chennai Place: Bengaluru

Date: May 21,2025 Date: May 21,2025 Date: May 21,2025

Radhika Khurana
Company Secretary
M. No. A32557

Place: Gurugram
Date: May 21,2025