i. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS

Provision are recognised where there is a present legal or statutory obligation as a result of
past events, it is probable that there will be an outflow of economic resources to settle the
obligation and a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities are possible obligation arising from future events, which will be
confirmed on occurrence or non occurrence of certain events not wholly within the control of
the company, or present obligation where it is not probable that future outflow of resources
will be required, or where reliable estimate of the amount of outflow required cannot be made.
Contingent liabilities are not provided for in the standalone financial statements but are only
disclosed by way of note in the standalone financial statements. involving substantial degree
of estimation in measurement is recognized when there is a present obligation as a result of
past events and it is probable that there will be an outflow of resources. Contingent liabilities
are not recognized but are disclosed in the notes. Contingent assets are neither recognized
nor disclosed in the financial statements.

j. EVENUE RECOGNITION

i) Revenue from sale of goods is recognised only when significant risk and rewards of
ownership has been transferred to the buyer and it can be reliably measured and its
reasonable to expect ultimate collection of the amount of the considertion at the time of
recognising the revenue. Gross sales are of net trade discount, rebates, goods and
services tax and other duties, if any.

ii) Revenue from services is recognized, when services have been performed as per terms of
contract, amount can be measured and there is no significant uncertainty as to collection.

iii)

ascertainable with reasonable certainty are accounted for ,on final settlement.

k. OTHER INCOME

Interest Income is generally recognised on a time proportion basis taking into account the
amount outstanding and the rate applicable, when there is reasonable certainty as to
realisation. All other items are recognised on accrual basis.

l. TAXES ON INCOME

i. Income taxes are accounted for in accordance with Accounting Standard (AS-22) -
"Accounting for taxes on income", notified under Companies (Accounting Standard) Rules,

2014. Income tax comprises of both current and deferred tax. Current tax is measured on the
basis of estimated taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961.

ii. The tax effect of the timing differences that result between taxable income and accounting
income and are capable of reversal in one or more subsequent periods are recorded as a
deferred tax asset or deferred tax liability. They are measured using substantially enacted
tax rates and tax regulations as of the Balance Sheet date.

iii. Deferred tax assets arising mainly on account of brought forward losses and unabsorbed
depreciation under tax laws, are recognized, only if there is virtual certainty of its realization,
supported by convincing evidence. Deferred tax assets on account of other timing
differences are recognized only to the extent there is a reasonable certainty of its realization.

m. EMPLOYEE BENEFITS

Defined Contribution Plan:

Contributions payable to the recognised provident fund and ESIC which is a defined
contribution scheme, are charged to the statement of profit and loss.

Defined Benefit Plan:

The Company has an obligation towards gratuity, a defined benefit retirement plan covering
eligible employees. The plan provides for lump sum payment to vested employees at
retirement, death while in employment or on termination of employment of an amount
equivalent to 15 days salary payable for each completed year of service without any monetary
limit. Vesting occurs upon completion of five years of service. Provision for gratuity has been
made in the books as per actuarial valuation done as at the end of the year.

The company recognizes the present value of the leave encashment obligation as a liability in
the balance sheet. Actuarial gains and losses are recognized immediately in the statement of

profit and loss.

Detailed disclosures about the actuarial assumptions, method used for valuation, and the
components of the leave encashment expense are provided in the financial statements.

This Projected Unit Credit (PUC) Method is used to measure the present value of the defined
benefit obligation. It considers the accrued service and expected future salary increments.

m. EMPLOYEE BENEFITS
Defined Contribution Plan:

Contributions payable to the recognised provident fund and ESIC which is a defined
contribution scheme, are charged to the statement of profit and loss.

Defined Benefit Plan:

The Company has an obligation towards gratuity, a defined benefit retirement plan covering
eligible employees. The plan provides for lump sum payment to vested employees at
retirement, death while in employment or on termination of employment of an amount
equivalent to 15 days salary payable for each completed year of service without any monetary
limit. Vesting occurs upon completion of five years of service. Provision for gratuity has been
made in the books as per actuarial valuation done as at the end of the year.

The company recognizes the present value of the leave encashment obligation as a liability in
the balance sheet. Actuarial gains and losses are recognized immediately in the statement of
profit and loss.

Detailed disclosures about the actuarial assumptions, method used for valuation, and the
components of the leave encashment expense are provided in the financial statements.

This Projected Unit Credit (PUC) Method is used to measure the present value of the defined
benefit obligation. It considers the accrued service and expected future salary increments.

n. CASH & CASH EQUIVALENTS

Cash and cash equivalents comprises Cash-in-hand, Current Accounts, Fixed 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. Other
Bank Balances are short- term balance (with original maturity is more than three months but
less than twelve months).

0. EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net profit or loss for the year attributable to
equity shareholders by the weighted average number of equity shares outstanding during the
year. Diluted earnings per share is calculated by adjusting net profit or loss and weighted
average number of equity shares outstanding during the year for dilution.

a. Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of ? 10 each. Each holder
of equity shares is entitled to one vote per share. In the event of liquidation of the Company,
holders of equity shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.

The shareholders have the right to declare and approve dividends, as recommended by the
Board of Directors for any financial year,to be paid to the members according to their rights
and interest in the profits. However, no higher dividend shall be declared than is
recommended by the Board of Directors.

26. CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF :

(i) The Assistant Commissioner of Customs issued a pre-notice consultation letter to the Company
involving a potential demand of £77.60 lakhs on account of alleged misclassification and wrongful
availment of IGST benefit. Since no formal show cause notice has been issued and a similar case
against the LLP was successfully defended with the demand dropped, the Company is confident of a
favorable outcome and has not booked any liability or made any provision in the books.

28. SEGMENT REPORTING

The Company is primarily engaged in the business of manufacturing of Electronic vehicles, which as
per Accounting Standard - 17 on 'Operating Segments' as specified under Section 133 of the
Companies Act, 2013 read with Rule 7 of Companies (Accounts) Rules, 2014 is considered to be the
only reportable business segment. The Company is primarily operating in India which is considered
as a single geographical segment. Thus, disclosures as per the Accounting Standards (as) 17 on
Segment Reporting are not applicable to the Company.

29 The quantitative details & valuation of inventory and work in progress has been taken as certified &
verified by the Management based on the physical verification carried out as at March 31, 2025.

(ii) Defined Benefit Plans

The Company has recognized the expected liability arising out of the compensated absence and
gratuity as at 31 March, 2025 based on actuarial valuation carried out using the Projected Unit Credit
Method.

The below disclosure have been obtained from independent actuary. The other disclosures are
made in accordance with AS - 15 (revised) pertaining to the Defined Benefit Plan are as given below

35 Balance with Statutory Authorities : The balance with statutory authorities includes the refundable GST
input pertaining to the LLP.

36 Trademark and licenses are in the process to be tranferred in name of company from the name of
LLP.

37. ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III TO THE COMPANIES ACT 2013

i. The Company does not have any benami property held in its name. No proceedings have been
initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

ii.

lender or government or any government authority.

iii. The Company has not made any investment therefore requirements prescribed under clause
(87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017
are not applicable to the company.

iv. (a) The Company has not advanced or loaned or invested funds to any other person(s) or enti-
ty(ies)

v. , including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

vi. (a) Directly or indirectly lend or invest in other persons or entities identified in any manner

vii. whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

viii. _

ix. (b) The Company has not received any fund from any person(s) or entity(ies), including foreign

x. entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that

xi. the Company shall:

xii. (a) directly or indirectly lend or invest in other persons or entities identified in any manner

xiii. whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

xiv.

xv. There is no income surrendered or disclosed as income during the year in tax assessments under
the Income Tax Act

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

xvii.

created a new charge of Rs. 10 cr from DBS bank on 30th July 2024

xviii. The Company does not have any capital work-in-progress.

xix.

xx. The Company does not have any Property, plant and equipment to be classified as investment

xxi. property.

xxii. The Company has not revalued any of its Property, plant and equipment.

xxiii. The Company does not have any investment & hence, compliance with number of layers
prescribed under clause 87 of section 2 of the Act read with Companies (restriction on number of
Layers) Rules, 2017 is not applicable.

xxiv. The company does not have any immovable property (other than the properties where the
company is the lessee & lease agreements are duly executed in favour of the lessee) whose title
deeds are not held in the name of company

xxv. The Company has not granted loans or advances in the nature of loans to promoters, Directors,
KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly
with any other person, that are:

(a) Repayable on demand or

(b) without specifying any terms or period of repayment

xxvi. The Company has borrowings from banks or financial institutions on the basis of security of
current assets and quarterly returns or statements of current assets filed by the Company with
banks or financial institutions are in agreement with the books of accounts except for below
Quarter ended periods :

xxvii.

("IPO") with a face value Rs. 10.00 each at an issue price of Rs. 130.00 each aggregating to Rs.
5,054.40 Lakhs. Pursuant to the IPO, the Equity shares of the Company were listed on the Emerge
Platform of National Stock Exchange of India Limited ("Emerge Platform of NSE") w.e.f. January 14,
2025. Accordingly, these audited financial results for the half year ended March 31, 2025 are drawn
for the very first time in accordance with the Regulation 33 of the SEBI (Listing Obligation and
Disclosure Requirements)Regulations 2015, as amended.

xxviii. Net proceeds which were unutilised as at March 31, 2025 were temporarily invested in deposits

-

tion of IPO proceeds, the same has only been utilised for the objects specified in the offer document.

xxix. The Company has not entered into any scheme of arrangements in terms of sec 230 to 237 of
Companies Act'2013

xxx.

current year's classification / disclosure.

xxxi. The financial statements for the year ended 31 March 2025 have been reviewed by the Audit
Committee and approved by the Board of Directors of the Company at their respective meetings held on
30 May 2025.

For Padam Dinesh & Co. For V. Singhi & Associates

Chartered Accountants Chartered Accountants

FRN - 009061N

Padam Kumar Gupta Naveen Kankaria

Partner (Partner)

Mem No. - 087747

UDIN - 25087747BMIKDE4688 UDIN: 25153214BMIFRB3105

Place: New Delhi Place: New Delhi

Date: 30th May 2025 Date: 30th May 2025

For and on behalf of the Board of Directors of Delta Autocorp Limited

Ankit Agarwal Priyanka Agarwal Nitin Dubey

(Managing Director) (Director & CFO) (Company Secretary)

DIN - 03289175 DIN - 08421025 Place: New Delhi

Place: New Delhi Place: New Delhi Date: 30th May 2025

Date: 30th May 2025 Date: 30th May 2025