2.13. Provisions, contingent liabilities and contingent asset

Provisions are recognized when the Company has a present obligation (legal or constructive)
as a result of a past event, it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation, and a reliable estimate can be made of the
amount of the obligation. The expense relating to any 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 determined by discounting
the expected future cash flows at a pre-tax rate that reflects current market assessments of the
time value of money and, where appropriate, the risks specific to the liability. Where
discounting is used, the increase in the provision due to the passage of time is recognized as
other finance expense.

A contingent liability is a possible obligation that arises from past events whose existence will
be confirmed by the occurrence or non-occurrence of one or more uncertain future events
beyond the control of the Company or a present obligation that is not recognized because it is
not probable that an outflow of resources will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there is a liability that cannot be recognized
because it cannot be measured reliably. The Company does not recognize a contingent liability
but discloses its existence in the financial statements.

A contingent asset is not recognized unless it becomes virtually certain that an inflow of
economic benefits will arise. When an inflow of economic benefits is probable, contingent
assets are disclosed in the financial statements. Contingent liabilities and contingent assets
are reviewed at each balance sheet date.

2.14. Employee benefits

(i) Short term employee benefit obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be
settled wholly within 12 months after the end of the period in which the employees render
the related service are recognized in respect of employees' services up to the end of the
reporting period and are measured at the amounts expected to be paid when the liabilities
are settled. The liabilities are presented as current employee benefit obligations in the balance
sheet.

(ii) Other long-term employee benefit obligations

The liabilities for accumulating compensated absences not expected to be settled wholly within
12 months after the end of the period in which the employees render the related service are
measured at the present value of expected future payments to be made in respect of services
provided using the projected unit credit method. The benefits are discounted using the
appropriate market yields at the end of the reporting period that have terms approximating
to the terms of the related obligation.

Re-measurements as a result of experience adjustments and changes in actuarial assumptions
are recognized in profit or loss. The obligations are presented as current liabilities in the
balance sheet if the entity does not have an unconditional right to defer settlement for at least
twelve months after the reporting period, regardless of when the actual settlement is expected
to occur.

(a) Defined benefit plans-Gratuity obligations

The liability in respect of defined benefit plans and other post-employment benefits is
calculated using the projected unit credit method consistent with the advice of qualified
actuaries. The present value of the defined benefit obligation is determined by discounting
the estimated future cash outflows using interest rates of high-quality corporate bonds that
are denominated in the currency in which the benefits will be paid, and that have terms to
maturity approximating to the terms of the related defined benefit obligation. The current
service cost of the defined benefit plan, recognised in the statement of profit and loss in
employee benefit expense, reflects the increase in the defined benefit obligation resulting

from employee service in the current year, benefit changes, curtailments and settlements. The
interest cost is calculated by applying the discount rate to the balance of the defined benefit
obligation. This cost is included in employee benefit expense in the statement of profit and
loss. Actuarial gains and losses arising from experience adjustments and changes in actuarial
assumptions are charged or credited to equity in other comprehensive income in the period
in which they arise.

2.15. Dividends

Provision is made for the amount of any dividend declared, being appropriately authorized
and no longer at the discretion of the entity, and not distributed on or before the end of the
reporting period. Dividend is recognised as a liability in the period in which the interim
dividends are approved by the Board of Directors, or in respect of the final dividend when
approved by shareholders.

2.16. Earnings per share

Basic earnings per share are calculated by dividing the profit or loss after tax for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period.

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

2.17. Commitments

Commitments include the amount of purchase order (net of advances) issued to parties for
completion of assets and on account bonds executed with external authorities.

2.18. Recent accounting pronouncements (Standards issued but not yet effective)

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 statement.

Pursuant to resolutions passed by our Board at their meeting held on January 31, 2025, our Company has approved the
allotment of 31,56,176 Equity Shares of face value of '10 each with premium of Rs. 240/- each for consideration in cash
and also made allotment of 46,21,770 Equity Shares of face value of ' 10 each with premium of Rs. 75.61/- each in
exchange of 4,71,59,690 Equity Shares of Rs. 10 each of Midwest Energy Private Limited(i.e. for Consideration other
than cash).

Terms and rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares
is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled
to receive 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. In the event of liquidation of the company, the
holders of equity shares will be entitled to receive 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 above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In
practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the
sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the
defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been
applied as when calculating the defined benefit liability recognised in the balance sheet.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior
period.

The weighted average duration of the defined benefit obligation is 6 years ( March 31, 2024: 8.49 years). The expected
future cash flows over the next years, which will be met out of planned assets, is as follows :

Risk Management

The Significant risks the company has in administering defined benefit obligation are :

Interest Rate Risk: This may arise from volatility in asset values due to market fluctuations and impairment of assets
due to credit losses. These Plans primarily invest in debt instruments such as Government securities and highly rated
corporate bonds - the valuation of which is inversely proportional to the interest rate movements.

Salary Cost Inflation Risk: The present value of the Defined Benefit Obligation liability is calculated with reference to
the future salaries of participants. Increase in salary due to adverse inflationary pressures might lead to higher liabilities.

Note 27: Fair Value Hierarchy

The following table presents the fair value hierarchy of assets and liabilities:

Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:
Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.

Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded
in an active market is determined using valuation techniques which maximize the use of observable market data and
rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are
observable, the instrument is included in Level 2.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one or
more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the
case with listed instruments where market is not liquid and for unlisted instruments.

Note:

(i) The carrying amounts of trade payables, other financial liabilities, borrowings, cash and cash equivalents, other
bank balances, trade receivables , investments and loans are considered to be the same as their fair values due to their
short term nature.

(ii) Investments mentioned in note 4(i) include equity investments in Subsidiaries which are carried at costs and hence
are not required to be disclosed as per Ind AS 107 "Financial Instruments Disclosures". Hence, the same have been
excluded from the above table.

Note 28: Financial Risk Management

The Company's activities expose it to market risk and credit risk. The Company emphasis on risk management and has
an enterprise wide approach to risk management. The Company's risk management and control procedures involve
prioritization and continuing assessment of these risks and device appropriate controls, evaluating and reviewing the
control mechanism.

(A) Credit Risk:

"Credit risk is the risk of potential loss that may occur due to failure of borrower/counterparty to meet the obligation
on agreed terms and conditions of the financial contract. Credit risk arises from financial assets such as cash and cash
equivalents, other bank balance ,trade receivables and other financial assets. The company has a credit risk management
policy in place to limit credit losses due to non-performance of financial counterparties and customers. The company
monitors the exposure to credit risk on an ongoing basis at various levels.

(I) Trade Receivable:

The credit risk related to trade receivables is influenced mainly by the individual characteristics of each customer. 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. As there is no independent credit
rating of the customers available with the Company, the management reviews the credit-worthiness of its customers
based on their financial position, past experience and other factors. The company also provides for expected credit
losses based on the past experience where it believes that there is high probability of default.

(B) Market Risk:

Market Risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors.
The most common types of market risks are interest rate risk and foreign currency risk.

• Interest Rate Risk

Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of
changes in market interest rates. The Company manages its market interest rates by fixed rate interest. Hence, the
Company is not significantly exposed to interest rate risks.

• Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash fows of an exposure will fuctuate because of changes
in foreign exchange rates. The Company has substantial exposure to foreign currency risk due to the significant exports
made. Sales in other countries and purchases from overseas suppliers are exposed to risk associated with fluctuation in
the currencies of those countries vis-a-vis the functional currency i.e. Indian rupee. The Company manages currency
fluctuations by having a better geographic balance in revenue mix and ensures a foreign currency match between
liabilities and earnings. The Company believes that the best hedge against foreign exchange risk is to have a good
business mix. The Company is very cautious towards hedging as it has a cost as well as its own risks. The Company
continually reassesses the cost structure impacts of the currency volatility and engages with customers addressing
such risks.

(C) Liquidity Risk:

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk
management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.

The Company manages it's risk from it's principle source of resources such as cash and cash equivalents , cash flows
that are generated from operations and other means of borrowings, to ensure, as far as possible , that it will always
have sufficient liquidity to meet the liabilities.

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting
date:

The Company's financial strategy aims to provide adequate capital for its growth plans for sustained stakeholder
value. The company's objective is to safeguard its ability to continue as a going concern, so that it can continue to
provide returns for shareholders and benefits for other stakeholders. And depending on the financial market scenario,
nature of the funding requirements and cost of such funding, the Company decides the optimum capital structure. The
Company aims at maintaining a strong capital base so as to maintain adequate supply of funds towards future growth
plans as a going concern.

Confirmation letters have been issued in respect of trade receivables and other receivables and advances and trade
payables and other payables of the company but not responded in some cases. Balances where confirmations are not
forthcoming such balances are subject to reconciliation and consequential adjustment required, if any, would be deter-
mined/made on receipt of confirmation. However, in the opinion of the Board, assets other than Property, plant and
equipment and non-current investments have a value on realisation in the ordinary course of business at least equal to
the amount at which they are stated and provision for all known liabilities have been made.

Reasons for Variance:

Current Ratio: The increase in the current ratio is primarily attributable to a higher balance of cash and cash equivalents
as on the reporting date.

Debt-Equity ratio: The improvement in the debt-equity ratio is attributable to the issuance of equity shares at a premium,
which increased the company's net worth. The company had negative equity in the previous year due to accumulated
losses.

Trade Receivables turnover ratio: Change on account of decrease in revenue.

Trade Payables: Change on account of decrease in Purchases.

Net Capital Turnover Ratio : Change on account of decrease in Revenue.

Net Profit Ratio : Change on account of Increase in losses.

Return on Investment: No investment income generated during the year

Note 37 (i): 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 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.

Note 37 (ii): No funds have been received by the Company from any person or entity, including foreign entity ("Funding I
Parties"), 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 in any manner whatsoever by or on behalf of the
Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

Note 38: Other Statutory Information "(i) The Company does not have any Benami property, where any proceeding
has been initiated or pending against the Company for holding any Benami property. "(ii) The Company does not have
any charges or satisfaction which is yet to be registered with ROC beyond the statutory period. "(iii) The Company
have not traded or invested in Crypto currency or Virtual Currency during the financial year. "(iv) 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) "(v) The Company has not been declared as Wilful defaulter by any
Banks, Financial institution or Other lenders. "(vi) The Company has not entered into any scheme of arrangements
which has an accounting impact on current and previous financial year. "(vii) The Company has complied with the
number of layers prescribed under the Companies Act, 2013"

Note 39: The figures for the previous year have been reclassified / regrouped wherever necessary to conform to current
year's classification.

The accompanying notes are an integral part of the financial statements
As per our report of even date

For and on behalf of the Board

For MAJETI & CO.

Chartered Accountants

Firm's registration number: 015975S

Deepak Kukreti B. Satyanarayana Raju

Kiran Kumar Majeti Whole Time Director Whole Time Director

Partner DIN :03146700 DIN: 01431440

Membership Number: 220354 .

Anant Patwari P V Ramakrishna

Date : May 29, 2025 Company Secretary Chief Financial Officer

Place : Hyderabad