28 Issue of Shares

The Company has completed its initial public offer ("IPO") of 86,74,800 equity shares of face value of Rs 10 each at an issue price of Rs 93 per share. The issue comprised of fresh issue of 60,00,000 equity shares aggregating to 55.80 Crores. The total IPO expenses incurred 9.71 crores (including provision) (excluding taxes) has been adjusted against securities premium.

29 Disclosure of Transactions With Struck Off Companies

The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

30 No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

i Crypto Currency or Virtual Currency

ii Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

iii Registration of charges or satisfaction with Registrar of Companies

iv Relating to borrowed funds:

a) Wilful defaulter

b) Utilisation of borrowed funds & share premium

c) Borrowings obtained on the basis of security of current assets

d) Discrepancy in utilisation of borrowings

e) Current maturity of long term borrowings

31 Particulars of Loans, Guarantees or Investments covered under Section 186(4) of the Companies Act, 2013

There are no loans granted, guarantees given and investments made by the Company under Section 186 of the Companies Act, 2013 read with rules framed thereunder except as stated under note 12 to the financial statement.

32 In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated as realizable in the ordinary course of business and the provision for all known liabilities are adequate.

34 With effect from April 1, 2023, the Ministry of Corporate Affairs (MCA) has made it mandatory for every company, 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 uses an accounting software RACE Enterprise Resource Planning (ERP) i.e. 5M The Ultimate ERP software to maintain its books of accounts which has the feature of audit trail and the same was enabled throughout the year.

With a view to address the above challenges while ensuring compliance with the MCA notification and mitigate the risks involved therein, the Company has appropriately designed and implemented alternate mitigating controls over direct change at database level.

35 Debit and Credit balances are subject to confirmation and reconciliation if any.

36 Previous year figures have been regrouped / reclassified, wherever necessary, to correspond with current year classification.