n Provisions, Contingent liabilities and Contingent assets

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an
outflow of resources and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources.

Where there is a possible obligation or a present obligation but the likelihood of outflow of resources is remote, no provision or
disclosure is made.

Contingent Assets are neither recognized nor disclosed,
o Accounting estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amounts of
assets and liabilities on the date of financial statements and the reported amounts of revenue and expenses during the reporting
period. Difference between the actual results and the estimates are recognized in the period in which the results are known/
materialized.

(ii) Rights, preferences and restrictions atiached to shares

Equity Shares: The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend
proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion to their shareholding.

30 Employee Benefit Obligation

Assets and liabilities relating to Employee Benefits

See material accounting policy in Note 2 (j)

For details about the related employee benefit expenses, See Note 25

A. Defined Contribution Plan:

The Company's defined contribution plans are superannuation, employees state insurance scheme and provident fund administered by
Government since the Company has no further obligation beyond making the contributions.

The expenses recognised during the year towards defined contribution plans are as detailed below:

B. Defined Benefit Obligation:

The Company provides for gratuity for employees as per the Payment of Gratuity Act, 1972/ company policy. Employees who are in
continuous service for a period of 5 years or more are eligible for gratuity. The amount of gratuity payable on retirement/termination is
the employee's last drawn salary per month computed proportionately as per the Payment of Gratuity Act, 1972/ company policy
multiplied for the number of years of service.

The results of the actuarial study for the obligation for employee benefits as computed by the actuary are shown below:

C. Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other
assumptions constant, would have affected the defined benefit obligation by the amounts shown below. Although the
analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation
of the sensitivity of the assumptions shown.

Note:

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an
approximation of the sensitivity of the assumptions shown.

The estimates of future salary increases considered in actuarial valuation takes into account inflation, seniority, promotion and
other relevant factors as supply and demand in the employment market.

Date of declaration as wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender or
Government or any Government authority

39 Relationship with Struck off Companies

The Company does not have any transactions and balances with companies which are struck off.

40 Registration of Charge

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

Reason For Change

a. Primarily on account of IPO proceeds invested in cash and liquid funds, coupled with reduction in short-term borrowings.

b. Primarily due to repayment of borrowings and significant increase in shareholders' equity following the IPO.

c. Declined mainly due to substantial increase in average shareholders' equity following the IPO.

d. Due to higher average inventory maintained to ensure product availability.

e. Due to increase in average trade receivables in line with customer credit requirements.

f. Due to higher average trade payables arising from increased procurement and improved credit terms from suppliers.

g. Due to significant increase in working capital following the IPO proceeds and higher investment in inventories and receivables,
while revenue growth was comparatively moderate.

h. Due to increase in operating expenses, including employee costs, CSR expenditure and business development expenses.

1. Improved significantly due to higher operating profitability, reduction in finance costs following repayment of borrowings, and
more efficient utilization of capital employed.

42 Disclosure where company has given loan or invested to other person or entity to lend or invest in another person or entity

I - 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:

i) 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

ii) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

43 Disclosure where company has received fund from other person or entity to lend or invest in other person or entity

II-The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall:

i) 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

ii) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

45 Valuation of PP&E and Intangible Assets

The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) or intangible assets during the
year.

46 Details of benami property held

No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules made thereunder.

47 Compliance with number of layers of companies:

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

48 Compliance with approved scheme(s) of arrangements

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

49 Undisclosed Income

There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as
search or survey), that has not been recorded in the books of account.

50 Details of Crypto Currency

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

51 Audit Trail

With effect from April 1, 2023, the Ministry of Corporate Affairs (MCA) has made it mandatory for every company incorporated in
India, which uses accounting software for maintaining its books of account, to use only such accounting software which has a
feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along
with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company has been maintaining its books of accounts in the accounting software which has feature of recording audit trail of
each and every transaction, creating an edit.

log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail
cannot be disabled, throughout the year as required by proviso to sub rule (1) of rule 3 of The Companies (Accounts) Rules, 2014
known as the Companies (Accounts) Amendment Rules, 2021. Additionally, the Audit Trail has been preserved by the Company as
per the Statutory Requirement for Record Retention.