l) Provisions, contingent liabilities and contingent
assets
Provisions

A provision is recognised when the Company has a present
obligation (legal or constructive) as a result of past event,
it is probable that an outflow of resources embodying
economic benefits will be required to 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
presented 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. When discounting is used, the increase in
the provision due to the passage of time is recognised as
a finance cost.

Provision for Decommissioning Liability

The Company records a provision for decommissioning
costs towards site restoration activity. Decommissioning
costs are provided at the present value of future
expenditure using a current pre-tax rate expected to be
incurred to fulfil decommissioning obligations and are
recognised as part of the cost of the underlying assets.
Any change in the present value of the expenditure,
other than unwinding of discount on the provision,
is reflected as adjustment to the provision and the
corresponding asset. The change in the provision
due to the unwinding of discount is recognised in the
Statement of Profit and Loss.

Contingent liabilities

A contingent liability is a possible obligation that arises
from past events and 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 enterprise. Contingent liabilities are
disclosed by way of note to the financial statements.

Contingent Assets

A contingent asset is a possible asset that arises 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 enterprise.

Contingent assets are neither recognised nor disclosed
in the financial statements.

m) Retirement and other employee benefits
Provident fund

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 scheme as an expenditure,
when an employee renders the related service. If the
contribution payable to the scheme for service received
before the Balance Sheet date exceeds the contribution
already paid, the deficit payable to the scheme is
recognised as a liability after deducting the contribution

already paid. If the contribution already paid exceeds the
contribution due for services received before the Balance
Sheet date, then excess is recognised as an asset to the
extent that the pre-payment will lead to, for example, a
reduction in future payment or a cash refund.

Gratuity

Gratuity liability is defined benefit obligation and is
provided for on the basis of an actuarial valuation on
projected unit credit (PUC) method made at the end
of each financial year. The Company contributes to
Life Insurance Corporation of India (LIC) and SBI Life
Insurance Company Limited, a funded defined benefit
plan for qualifying employees.

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, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit
liability and the return on plan assets (excluding
amounts included in net interest on the net defined
benefit liability), are recognised immediately 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
Statement of Profit and Loss in subsequent periods.

Past service costs are recognised in Statement of Profit
and Loss on the earlier of:

? The date of the plan amendment or curtailment,
and

? The date that the Company recognises related
restructuring costs.

Net interest is calculated by applying the discount rate
to the net defined benefit liability or asset. The Company
recognises the following changes in the net defined
benefit obligation as an expense in the Statement of
Profit and Loss:

? Service costs comprising current service costs,
past-service costs, gains and losses on curtailments
and non-routine settlements; and

? Net interest expense or income

Short-term employee benefits

The undiscounted amount of short-term employee
benefits expected to be paid in exchange for the
services rendered by employees are recognised on an
undiscounted accrual basis during the year when the
employees render the services. These benefits include
performance incentive and compensated absences
which are expected to occur within twelve months after
the end of the period in which the employee renders
the related services.

Long-term employee benefits

Other long term employee benefits comprise
of compensated absences/leaves. Provision for
Compensated Absences and its classifications between
current and non-current liabilities are based on
independent actuarial valuation. The actuarial valuation
is done as per the projected unit credit method.

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, fair value
through other comprehensive income (OCI), and fair
value through profit or loss.

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. With the exception of trade receivables
that do not contain a significant financing component
or for which the Company has applied the practical
expedient, the Company initially measures a financial
asset at its fair value plus, in the case of a financial asset
not at fair value through profit or loss, transaction costs.
Trade receivables that do not contain a significant
financing component or for which the Company has
applied the practical expedient are measured at the
transaction price determined under Ind AS 115. Refer
to the accounting policies in section "Revenue from
contracts with customer".

In order for a financial asset to be classified and
measured at amortised cost or fair value through OCI, it
needs to give rise to cash flows that are 'solely payments
of principal and interest (SPPI)' on the principal amount
outstanding. This assessment is referred to as the SPPI
test and is performed at an instrument level. Financial
assets with cash flows that are not SPPI are classified and
measured at fair value through profit or loss, irrespective
of the business model.

The Company's business model for managing financial
assets refers to how it manages its financial assets
in order to generate cash flows. The business model
determines whether cash flows will result from
collecting contractual cash flows, selling the financial
assets, or both. Financial assets classified and measured
at amortised cost are held within a business model with
the objective to hold financial assets in order to collect
contractual cash flows while financial assets classified
and measured at fair value through OCI are held within

a business model with the objective of both holding to
collect contractual cash flows and selling.

Purchases or sales of financial assets that require delivery
of assets within a time frame established by regulation
or convention in the marketplace (regular way trades)
are recognized on the trade date, i.e., the date that the
Company commits to purchase or sell the asset.

Subsequent measurement

For purposes of subsequent measurement, financial
assets are classified in four categories:

? financial assets at amortised cost

? financial assets at fair value through other
comprehensive income (FVTOCI) with recycling of
cumulative gains and losses

? financial assets designated at fair value through
OCI with no recycling of cumulative gains and
losses upon derecognition (equity instruments)

? financial assets at fair value through profit or loss
Financial assets at amortised cost

Financial assets 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 hold 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.

This category is the most relevant to the Company.
After initial measurement, such financial assets are
subsequently measured at amortised cost using the
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 other income in the Statement of Profit and Loss. The
losses arising from impairment are recognised in the
Statement of Profit and Loss. This category generally
applies to trade receivables, security deposits and other
receivables.

Financial assets at fair value through other
comprehensive income (FVTOCI)

A 'financial asset' is classified as at the FVTOCI if both of
the following criteria are met:

a) The objective of the business model is achieved
both by collecting contractual cash flows and
selling the financial assets, and

b) The asset's contractual cash flows represent Solely
Payments of Principal and Interest.

Debt instruments included within the FVTOCI category
are measured initially as well as at each reporting date
at fair value. For debt instruments, at fair value through
other comprehensive income (OCI), interest income,
foreign exchange revaluation and impairment losses
or reversals are recognised in the profit or loss and
computed in the same manner as for financial assets
measured at amortised cost. The remaining fair value
changes are recognised in OCI. Upon derecognition,
the cumulative fair value changes recognised in OCI is
reclassified from the equity to profit or loss
The Company's debt instruments at fair value through
OCI includes investments in quoted debt instruments
included under other non-current financial assets.

Financial assets designated at fair value through OCI
(equity instruments)

Upon initial recognition, the Company can elect to
classify irrevocably its equity investments as equity
instruments designated at fair value through OCI
when they meet the definition of equity under Ind AS
32 Financial Instruments: Presentation and are not
held for trading. The classification is determined on an
instrument-by-instrument basis. Equity instruments
which are held for trading and contingent consideration
recognised by an acquirer in a business combination to
which Ind AS103 applies are classified as at FVTPL.

Gains and losses on these financial assets are never
recycled to profit or loss. Dividends are recognised as
other income in the statement of profit and loss when
the right of payment has been established, except when
the Company benefits from such proceeds as a recovery
of part of the cost of the financial asset, in which case,
such gains are recorded in OCI. Equity instruments
designated at fair value through OCI are not subject to
impairment assessment.

The Company elected to classify irrevocably its non-
listed equity investments under this category.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss
are carried in the balance sheet at fair value with net
changes in fair value recognised in the statement of
profit and loss.

This category includes derivative instruments and
listed equity investments which the Company had not
irrevocably elected to classify at fair value through OCI.
Dividends on listed equity investments are recognised
in the statement of profit and loss when the right of
payment has been established.

Derecognition

A financial asset (or, where applicable, a part of a
financial asset or part of a group of similar financial

assets) is primarily derecognised (i.e. removed from the
Company's balance sheet) when:

? The rights to receive cash flows from the asset
have expired, or

? The Company has transferred its rights to receive
cash flows from the asset or has assumed an
obligation to pay the received cash flows in full
without material delay to a third party under a
'pass-through' arrangement; and either (a) the
Company has transferred substantially all the
risks and rewards of the asset, or (b) the Company
has neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive
cash flows from an asset or has entered into a pass¬
through arrangement, it evaluates if and to what extent
it has retained the risks and rewards of ownership. When
it has neither transferred nor retained substantially all of
the risks and rewards of the asset, nor transferred control
of the asset, the Company continues to recognise
the transferred asset to the extent of the Company's
continuing involvement. In that case, the Company also
recognises an associated liability. The transferred asset
and the associated liability are measured on a basis that
reflects the rights and obligations that the Company has
retained.

Continuing involvement that takes the form of a
guarantee over the transferred asset is measured at
the lower of the original carrying amount of the asset
and the maximum amount of consideration that the
Company could be required to repay.

Interests in joint operations

The company has entered into a joint operating
agreement with the Oil and Natural Gas Corporation
Limited and Indian Oil Corporation Limited for extraction
of Methane Gas at North Karanpura Block (NK-CBM)

A joint operation is a joint arrangement whereby the
parties that have joint control of the arrangement have
rights to the assets, and obligations for the liabilities,
relating to the arrangement. The Company has Joint
Operations in the nature ofProduction Sharing Contracts
(PSC) and Revenue Sharing Contracts (RSC) with the Oil
and Natural Gas Corporation Limited and Indian Oil
Corporation Limited for exploration, development and
production activities related to Coal Bed Methane. The
company handles all the operating activities related to
the production as per the tri-partiate arrangement and
accounting for the same is done as per the applicable
laws. The assets and liabilities directly attributable to the
block are disclosed in the books only to the extent of the
share of the company in the arrangement.

Impairment of financial assets

I n accordance with Ind AS 109, the Company applies
Expected Credit Loss (ECL) model for measurement
and recognition of impairment loss on the following
financial assets and credit risk exposure:

a) financial assets that are debt instruments, and
are measured at amortised cost e.g., loans, debt
securities, deposits, and bank balance.

b) Trade receivables.

The Company follows 'simplified approach' for
recognition of impairment loss allowance on trade
receivables which do not contain a significant financing
component. 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. The Company uses a provision
matrix to determine impairment loss allowance on
the portfolio of trade receivables. The provision matrix
is based on its historically observed default rates over
the expected life of the trade receivable and is adjusted
for forward looking estimates. At every reporting date,
historical observed default rates are updated and
changes in the forward- looking estimates are analysed.
Financial liabilities at amortised cost (Loans and
borrowings)

Initial recognition and measurement

Financial liabilities are classified, at initial recognition,
as financial liabilities at fair value through profit or
loss, loans and borrowings, payables, or as derivatives
designated as hedging instruments in an effective
hedge, as appropriate.

All financial liabilities are recognised initially at fair value
and, in the case of payables, net of directly attributable
transaction costs.

The Company's financial liabilities include trade and
other payables, loans and borrowings including bank
overdrafts and derivative financial instruments.

Subsequent measurement

For purposes of subsequent measurement, financial
liabilities are classified in two categories:

? Financial liabilities at fair value through profit or
loss

? Financial liabilities at amortised cost (loans and
borrowings)

Financial liabilities at fair value through profit or
loss

Financial liabilities at fair value through profit or loss
include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair

value through profit or loss.

Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in
the near term. This category also includes derivative
financial instruments entered into by the Company
that are not designated as hedging instruments in
hedge relationships as defined by Ind AS 109. Separated
embedded derivatives are also classified as held for
trading unless they are designated as effective hedging
instruments.

Gains or losses on liabilities held for trading are
recognised in the profit or loss.

Financial liabilities designated upon initial recognition
at fair value through profit or loss are designated as such
at the initial date of recognition, and only if the criteria
in Ind AS 109 are satisfied. For liabilities designated as
FVTPL, fair value gains/ losses attributable to changes in
own credit risk are recognized in OCI. These gains/ losses
are not subsequently transferred to Profit and Loss.
However, the Company may transfer the cumulative
gain or loss within equity. All other changes in fair value
of such liability are recognised in the statement of profit
and loss. The Company has not designated any financial
liability as at fair value through profit or loss.

Financial liabilities at amortised cost (Loans and
borrowings)

After initial recognition, interest-bearing loans and
borrowings are subsequently measured at amortised cost
using the 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
is included as finance costs in the statement of profit
and loss. This category generally applies to borrowings.
Derecognition

A financial liability is derecognised when the obligation
under the 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.

Reclassification of financial assets

The Company determines classification of financial assets
and liabilities on initial recognition. After initial recognition,
no reclassification is made for financial assets which are

equity instruments and financial liabilities. For financial
assets which are debt instruments, a reclassification is
made only if there is a change in the business model for
managing those assets. Changes to the business model
are expected to be infrequent. The Company's senior
management determines change in the business model
as a result of external or internal changes which are
significant to the Company's operations. Such changes
are evident to external parties. A change in the business
model occurs when the Company either begins or ceases
to perform an activity that is significant to its operations.
If the Company reclassifies financial assets, it applies the
reclassification prospectively from the reclassification
date which is the first day of the immediately next
reporting period following the change in business model.
The Company does not restate any previously recognised
gains, losses (including impairment gains or losses) or
interest.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and
the net amount is reported in the Balance Sheet if
there is a currently enforceable legal right to offset
the recognized amounts and there is an intention to
settle on a net basis, to realize the assets and settle the
liabilities simultaneously.

o) Derivative financial instruments

The Company uses derivative financial instruments
such as foreign currency forward contracts and option
currency contracts to hedge its foreign currency risks
arising from highly probable forecast transactions. The
counterparty for these contracts is generally a bank.

Derivatives not designated as hedging instruments

This category has derivative assets or liabilities which
are not designated as hedges.

Although the Company believes that these derivatives
constitute hedges from an economic perspective, they
may not qualify for hedge accounting under Ind AS 109.
Any derivative that is either not designated a hedge, or is
so designated but is ineffective, is recognized on balance
sheet and measured initially at fair value. Subsequent to
initial recognition, derivatives are re-measured at fair
value, with changes in fair value being recognized in
the statement of profit and loss. Derivatives are carried
as financial assets when the fair value is positive and as
financial liabilities when the fair value is negative.

p) Cash & 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.

For the purpose of the statement of cash flows, cash
and cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding bank
overdrafts as they are considered an integral part of the
Company's cash management.

q) Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss attributable to equity holders of the
Company 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, 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 of all dilutive potential equity
shares.

r) Dividend

The Company recognises a liability to pay dividend
to equity holders of the parent when the distribution
is authorised, and the distribution is no longer at the
discretion of the Company. As per the corporate laws
in India, a distribution is authorised when it is approved
by the shareholders. A corresponding amount is
recognised directly in equity.

r) Investment in subsidiaries, joint ventures and
associates

Equity investments in subsidiaries, joint ventures and
associates are shown at cost less impairment, if any.
The Company tests these investments for impairment
in accordance with the policy applicable to 'Impairment
of non-financial assets'. Where the carrying amount of
an investment or CGU to which the investment relates
is greater than its estimated recoverable amount, it is
written down immediately to its recoverable amount
and the difference is recognized in the Statement of
Profit and Loss.

1.2 Critical accounting judgements and key sources of
estimation uncertainty

I n the application of the Company accounting policies, 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.

The following are the areas of estimation uncertainty and
critical judgements that the management has 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:

Useful lives of Intangible assets

The intangible assets are amortised over the estimated
useful life. The estimated useful life and amortisation method
are reviewed at the end of each reporting period, with the
effect of any changes in estimate being accounted for on a
prospective basis.

Useful lives of depreciable tangible assets

Management reviews the useful lives of depreciable assets
at each reporting date. As at March 31, 2023 management
assessed that the useful lives represent the expected utility of
the assets to the Company.

Defined benefit plans

The cost of the defined benefit plan and other post¬
employment benefits and the present value of such
obligation are determined using actuarial 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, mortality rates and future pension increases. Due
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.

Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash
generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs of disposal and its value in
use. The fair value less costs of disposal calculation is based on
available data from binding sales transactions, conducted at
arm's length, for similar assets or observable market prices less

incremental costs for disposing of the asset. The value in use
calculation is based on a DCF model. The cash flows are derived
from the budget for determined period and do not include
restructuring activities that the Company is not yet committed
to or significant future investments that will enhance the asset's
performance of the CGU being tested. The recoverable amount
is sensitive to the discount rate used for the DCF model as well
as the expected future cash-inflows, the growth rate used for
extrapolation purposes and the impact of general economic
environment (including competitors).

Impairment of Goodwill

Goodwill is tested for impairment annually as at 31 March and
when circumstances indicate that the carrying value may be
impaired. Impairment is determined for goodwill by assessing
the recoverable amount of each CGU (or group of CGUs) to
which the goodwill relates. When the recoverable amount of
the CGU is less than it's carrying amount, an impairment loss
is recognised. Impairment losses relating to goodwill cannot
be reversed in future periods.

Intangible assets with indefinite useful lives are tested for
impairment annually as at 31 March at the CGU level, as
appropriate, and when circumstances indicate that the
carrying value may be impaired."

2. 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. During 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 lease back transactions, applicable
from April 1, 2024. The Company has assessed that there is no
impact on its financial statements.

On May 9, 2025, MCA notifies the amendments to Ind AS
21 - Effects of Changes in Foreign Exchange Rates. These
amendments aim to provide clearer guidance on assessing
currency exchangeability and estimating exchange rates when
currencies are not readily exchangeable. The amendments are
effective for annual periods beginning on or after April 1,2025.
The Company is currently assessing the probable impact of
these amendments on its financial statements.

Terms/ Right attached to Equity Share :

15(d) The Board of Directors at its meeting held on 02nd September,2024 approved the sub division of its one Equity shares of face
value Rs. 10 each into ten Equity shares of face value Re. 1 each. The said sub division was further approved by the Shareholder
at its meeting on 02nd September, 2024. The Company had fixed 02nd September, 2024 as the record date for the purpose of
sub-division of the Equity Shares. The Basic and Diluted EPS for the prior periods of standalone and the consolidated financial
statements have been restated considering the face value of Re.1 each on accordance with IND AS 33-"Earning per share: Refer
note no 32.

15(e) The Company has allotted 178060900 equity shares as fully paid up by way of bonus shares dated 13th September 2024 in the
ratio of 1:10 pursuant to sanctioned Composite Scheme of Arrangement and the company has not bought back any shares
during the last 5 years.

* The Company's pending litigations comprise of claims against the Company and Proceedings pending with Tax/ Statutory/
Government Authorities. The Company has reviewed all its pending litigations and proceedings and has made adequate provisions,
wherever required and disclosed the contingent liabilities, wherever applicable, in its financial statements. The Company is confident
of receiving adjudications in its favour in respect of all its pending litigations. Expected timing of outflow is not ascertainable at this
stage, the matters being under dispute/ contingent.

The Company has not considered those disputed demands/claims as contingent liabilities, for which, the outflow of resources has
been considered as remote.

34 Segment Reporting

Company operates mainly in oil and gas exploration & production and all other activities are incidental thereto, which have similar
return. Accordingly there are no separate reportable segments as required under Ind AS - 108 "operating segments.

35 Employee Benefit Plans
Defined Benefit Plan
Gratuity

In accordance with Indian Accounting Standard 19, Actuarial valuation was done in respect of the aforesaid defined benefit plans
based on the following assumptions:

The following table sets out the status of the gratuity and the amounts recognized in the Company's financial statements as at 31st
March 2025.

The principal assumptions used for the purposes of the actuarial valuations were as follows.

Discount Rate

The rate used to discount other long term employee benefit obligation ( both funded and unfunded) shall be determined by reference
to market yield at the Balance date on high quality corporate bonds. In Countries where there is no deep market in such bonds the
market yields( at the Balance sheet date) on government bonds shall be used. The currency and term of the corporate bond or
government bond shall be consistent with estimated term of the post employment benefit obligation.

Salary Escalation Rate

This is Management's estimate of the increases in the salaries of the employees over the long term. Estimated future salary increases
should take account of inflation ,seniority, promotion an other relevant factors such as supply and demand in the employment
market.

36 Expenditure towards Corporate Social Responsibility (CSR) activities:

"Pursuant to the provisions of section 135(5) of the Companies Act, 2013 (the Act), As per the relevant provisions of the Act read with
Rule 2(1)(f) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company is required to spend at least 2% of
the average net profits (determined under section 198 of the Companies Act 2013 and section 349 of the Companies Act 1956) made
during the immediately three financial years. However, as per section 135 of Companies Act 2013, every company meeting certain
criteria shall form the CSR committee and undertake CSR activities. But company is out of preview of the criteria. Hence CSR provision
is not applicable to the company.

Gross amount required to be spent by the Company during the year: Rs. NIL (Previous year - Rs. NIL).

37 Related Party Disclosures
(a) List of Related Parties

Name of related Parties

1. Subsidiaries

Deep Natural Resources Limited
Deep Energy LLC

2. Enterprise over which Relatives of Key Managerial Personnel is having control

Deep Industries Limited

3. Key Management Personnel

Mr. Shail Savla (Managing Director)

Mr. Premsingh Sawhney (Chairman and Director)

Mrs. Shaily Dedhia (Independent Director)

Ms. Priyanka Gola (Independent Director) (Resigned w.e.f. 24th April,2025)

Mr. Vishal Palkhiwala (Director and CFO)

Mr. Navin Chandra Pandey (Independent Director)

Mrs. Nikita Agarwalla (Company Secretary) (Appointed w.e.f. 1st October,2024)

4. Key Managerial Personnel relative
Mr. Manoj Savla

Mrs. Mita Savla
Mrs. Vidhi Savla

(ii) Category-wise Classification of Financial Instruments:

The financial instruments are categorised in to three levels, based on the inputs used to arrive at fair value measurement as described
below : -

- Level 1 — 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 3 — Inputs based on unobservable market data.

Valuation Methodology

Financial instruments are initially recognised and subsequently re-measured at fair value as described below :

- The fair value of investment in quoted investments are measured at quoted price/ NAV.

- The unquoted investments are valued using valuation techniques, which employs the use of market observable inputs.

Financial Instrument measured at Amortised Cost

The management assessed that fair value of the cash and cash equivalents, other bank balances, trade receivables, other financial
assets, trade payables, borrowings and other current liabilities approximate their carrying amounts largely due to the short term
maturities of these instruments.

39 Financial Risk Management Objectives

The Company's Risk Management framework encompasses practices relating to the identification, analysis, evaluation, treatment
mitigation and monitoring of the strategic, external and operational controls risks to achieving the Company's business objectives.
It seeks to minimize the adverse impact of these risks, thus enabling the Company to leverage market opportunities effectively and
enhance its long term competitive advantage. The focus of risk management is to assess risks and deploy mitigation measures.

The Company's activities expose it to variety of financial risks namely market risk, credit risk and liquidity risk. The Company has
various financial assets such as deposits, other receivables and cash and bank balances directly related to the business operations.
The Company's principal financial liabilities comprise of trade and other payables. The Company's senior management's focus is
to foresee the unpredictability and minimize potential adverse effects on the Company's financial performance. The Company's
overall risk management procedures to minimize the potential adverse effects of financial market on the Company's performance are
outlined hereunder :

The Company's Board of Directors have overall responsibility for the establishment and oversight of the Company's risk management
framework.

The Company's risk management is carried out by the management in consultation with the Board of Directors. They provide
principles for overall risk management, as well as policies covering specific risk areas.

The note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations and arises principally from the Company's receivables from customers and from its financial activities including deposits
with banks and other financial instruments.

(i) Cash and Cash Equivalents :

The Company considers factors such as track record, size of institution, market reputation and service standard to select the
banks with which deposits are maintained. The Company does not maintain significant deposit balances other than those
required for its day to day operations. Credit risk on cash and cash equivalents is limited as these are generally held or invested
in deposits with banks and financial institutions with good credit images.

(iii) Commodity Risk :

The Company is exposed to the movement in the price of key raw materials and other traded goods in the domestic and
international markets. The Company has in place policies to manage exposure to fluctuation in prices of key raw material
used in operations. The Company enters into contracts for procurement of raw materials and traded Goods, most of the
transactions are short term fixed price contracts and a few transactions are long term fixed price contracts.

(iv) Capital Management

The Company manages its capital to be able to continue as as going concern while maximising the returns to shareholders
through optimisation of the debt and equity balances. For the purpose of calculating gearing ratio, debt is defined as non
current and current borrowings (excluding derivatives). Equity includes all capital and reserves of the Company attributable
to equity holders of the Company. The Company is not subject to externally imposed capital requirements. The board review
the capital structure and cost of capital on an annul basis but has not set specific targets for gearing ratios. The risks associated
with each class of capital are also considered as part of the risk reviews presented to the Board of Directors.

40 Business Combination

Amalgamation of Deep Energy Resources Limited ('Transferor Company-1'), Savla Oil and Gas Private Limited ('Transferor
Company-2') with the Company

The Board of Directors of the Company in its meeting held on September 15, 2022, had approved the Scheme of Amalgamation
under Sections 230-232 of the Companies Act, 2013 and in the matter of Scheme of Amalgamation of Deep Energy Resources Limited
('Transferor Company-1), Savla Oil and Gas Private Limited (Transferor Company-2) with Prabha Energy Limited (previously Known
as Prabha Energy Private Limited ('Transferee Company") with and their respective shareholders and creditors. The Scheme inter alia
provides for the reverse merger of Transferor Company 1 and Transferor Company 2 into Transferee Company and as consideration,
issue equity shares of the Company to all the shareholders of Transferor Company 1 and Transferor Company 2 in accordance with the
Share swap Ratio mentioned in the Scheme. The aforesaid Scheme was sanctioned by Hon'ble National Company Law Tribunal (NCLT)
Ahmedabad Bench vide order dated August 30, 2024. The Scheme has become effective from September 22, 2024 upon filing of the
certified copy of the orders passed by NCLT with the relevant Registrar of Companies . All the assets, liabilities, reserves and surplus of
the Transferor Company 1 and Transferor Company 2 have been transferred to and vested in the Transferee Company. The Appointed
Date of the Scheme is April 01,2022.

Accounting Treatment

Consequent to the scheme coming into effect and in accordance with the Share swap ratio enshrined in the scheme, the Company
has allotted its 136905531 equity shares of Re. 1/- each (fully paid-up) to the equity shareholders of Deep Energy Resources Limited
('Transferor Company-1') and Savla Oil and Gas Private Limited with the Company ('Transferor Company-2') . As an integral part of
the Scheme and upon the Scheme coming into effect on the Effective Date and with effect from the Appointed Date, the authorised
share capital of the Transferor Company 1 of INR 32,00,00,000 (Indian Rupees Thirty Two Crore), comprised of 3,20,00,000 (Three Crore
Twenty Lakh) Equity Shares having face value of INR 10 (Indian Rupees Ten) each. Further the authorised share capital of the Transferor
Company 2- of INR 8,72,81,000 (Indian Rupees Eight Crore Seventy Two Lakh and Eighty One Thousand), comprised of 72,28,100
(Seventy Two Lakh Twenty Eight Thousand One Hundred) Equity Shares having face value of INR 10 (Indian Rupees Ten) each and
15,00,000 (Fifteen Lakh) Preference Shares having face value of INR 10 (Indian Rupees Ten) each, shall stand consolidated and vested
in and merged with the authorised share capital of the Transferee Company. After considering consolidation of the authorised share
capital of the Transferor Company 1 and the Transferor Company 2 with the authorised share capital of the Transferee Company
as above and Bonus Issuance by the Transferee Company and sub-division of the Equity Shares of the Transferee Company , the
authorised share capital of the Transferee Company shall stand enhanced to INR 64,07,48,700 (Indian Rupees Sixty Four Crore Seven
Lakh Forty Eight Thousand and Seven Hundred), comprising into 58,81,48,100 (Fifty Eight Crore Eighty One Lakh Forty Eight Thousand
and One Hundred) Equity Shares of face value of INR 1 (Indian Rupee One) each and 52,60,060 (Fifty Two Lakh Sixty Thousand and
Sixty) Preference Shares having face value of INR 10 (Indian Rupees Ten) each.

A business combination involving entities or businesses under common control is a business combination in which all of the combining
entities or businesses are ultimately controlled by the same party or parties both before and after the business combination and
the control is not transitory. The transactions between entities under common control are specifically covered by Ind AS 103. Such
transactions are accounted for using the pooling-of-interest method. The assets and liabilities of the acquired entity are recognised
at their carrying amounts of the Company's financial statements. No adjustments are made to reflect fair values or recognise any new
assets or liabilities. The components of equity of the acquired companies are added to the same components within the Company's
equity. The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form of
cash or other assets and the amount of share capital of the transferor is transferred to capital reserve and is presented separately from
other capital reserves. The Company's shares issued in consideration for the acquired companies are recognized from the moment
the acquired companies are included in these financial statements and the financial statements of the commonly controlled entities
would be combined, retrospectively, as if the transaction had occurred at the beginning of the earliest reporting period presented.

42 Relationship with Struck off Companies

The Company has not carried out any transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of the Companies Act, 1956. There is no outstanding balance as at 31st March, 2025 in case of said struck off company.

43 Balances of Other Current Liabilities, Trade Receivables and Trade Payables are subject to confirmation, reconciliation and adjustments
if any.

44 In the opinion of the Management, current assets have a value on realisation in the ordinary course of business at least equal to the
amount at which they are stated except where indicated otherwise.

45 Previous period figures have been regrouped, re-classified and re-arranged wherever considered necessary to confirm to the current
year's classification.

46 The MCA wide notification dated March 24,2021 has amended Schedule III to the Companies Act,2013 in respect of certain disclosures.
The Company has incorporated appropriate changes in the above results.

47 Additional information as required under para 2 of General Instruction of Division II of Schedule III to the Companies Act, 2013

47a The Company has not carried out any revaluation of Property, Plant and Equipment in any of the period reported in the Financial
Statement hence reporting is not applicable.

47b The Company does not have any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
the rules made thereunder. No proceeding has been initiated or pending against the Company for any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

47c The Company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.

47d 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 (Such as search or survey or any other
relevant provisions of the Income Tax Act,1961).

47e 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:

(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.

47f Term loans were applied for the purpose for which the loans were obtained.

47g The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in accordance with the
guidelines on wilful defaulter issued by the Reserve Bank of India.

47h The Company is in compliance with the 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.

48 Figures of corresponding previous year have been regrouped /rearranged wherever necessary, to make them comparable.

49 The Standalone Financial Statements were presented at audit committee and then approved by the Board of Directors on 13th
May,2025.

As per our report of even date attached For and on behalf of the Board

For Mahendra N. Shah & Co. Premsingh Sawhney Shail Savla

Chartered Accountants Chairman & Director Managing Director

Registration No. 105775W DIN : 03231054 DIN: 08763064

Chirag M. Shah Vishal Palkhiwala Nikita Agarwalla

Partner Director & CFO Company Secretary

Membership No.: F-045706 DIN : 09695011 Membership No.: :A69933

Place: Ahmedabad Place: Ahmedabad

Date: 13th May, 2025 Date: 13th May, 2025