K) Provisions, Contingent liabilities and
Contingent assets

Provisions for legal claims and returns
are recognised when the company has a
present legal or constructive obligation
as a result of past event, it is probable that
an outflow of resources will be required to
settle the obligation and the amount can
be reliably estimated. Provisions are not
recognised for future operating losses.

Provisions are measured at the present
value of management's best estimate
of the expenditure required to settle
the present obligation at the end of the
reporting period. The discount rate used to
determine the present value is a pre-tax rate
that reflects current market assessments
of the time value of money and the risks
specific to the liability. The increase in the
provisions due to the passage of time is
recognized as interest expense."

A present obligation that arises from past
events where it is either not probable that
an outflow of resources will be required
to settle or a reliable estimate of the
amount cannot be made, is disclosed as a
contingent liability. Contingent Liabilities
are also disclosed when there is a possible
obligation arising from past events, the
existence of which willl be confirmed only
by the occurrence or non-occurence of one
or more uncertain future events not wholly
within the control of the Company.

Contingenet assets are not recognized
in financial statements since this may
result in the recognition of income thay
may never be realised. However, when the
realisation of income is virtually certain,
then the related asset is not a contingent
assets and is recognised.

L) Employee benefits

(i) Short-term 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 earned leave is not
expected to be settled wholly within
12 months after the end of the period
in which the employees render the
related service. They are therefore
measured at the present value of
expected future payments to be
made in respect of services provided
by employees up to the end of the
reporting period using the projected
unit credit method. The benefits are
discounted using the market yields
at the end of the reporting period
that have terms approximating to
the terms of the related obligations.
Remeasurements as a result of
the 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.

(iii) Post-employment obligations

The Company operates the following
post-employment schemes:

(a) Defined benefit plans such
as gratuity; and

(b) Defined contribution plan such as
provident fund"

Gratuity obligations

The liability or assets recognized in the
balance sheet in respect of gratuity
plans is the present value of the
defined benefit obligation at the end of
the reporting period less the fair value
of plan assets. The defined benefit
obligation is calculated annually
by actuaries using the projected
unit credit method.

The present value of the defined
benefit obligation is determined by
discounting the estimated future cash
outflows by reference to market yields
at the end of the reporting period on
government bonds that have terms
approximating to the terms of the
related obligation.

The net interest cost is calculated
by applying the discount rate to the
net balance of the defined benefit
obligation and the fair value of plan
assets. This cost is included in employee
benefit expense in the statement of
profit and loss.

Remeasurement gains and losses
arising from experience adjustments
and changes in actuarial assumptions
are recognized in the period in
which they occur, directly in other
comprehensive income. They are
included in retained earnings in the
statement of changes in equity and in
the balance sheet.

Changes in the present value of
the defined benefit obligation
resulting from plan amendments

or curtailments are recognized
immediately in profit or loss."

Defined contribution plans

The Company pays provident fund
contributions to publicly administered
funds as per local regulations.
The Company has no further payment
obligations once the contributions
have been paid. The contributions are
accounted for as defined contribution
plans and the contributions are
recognized as employee benefit
expense when they are due. "

(iv) Bonus plans

The Company recognizes a liability and
an expense for bonuses. The Company
recognizes a provision where
contractually obliged or where there
is a past practice that has created a
constructive obligation."

M) Contributed equity

Equity shares are classified as equity.

Incremental costs directly attributable
to the issue of new shares or options are
shown in equity as a deduction, net of tax,
from the proceeds."

N) Cash and cash equivalents

Cash and cash equivalents includes
cash on hand, deposits held at call with
financialinstitutions, other short-term,
highly liquid investments with original
maturities of three months or less that
are readily convertible to known amounts
of cash and which are subject to an
insignificant risk of changes in value and
bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities in
the balance sheet.

O) Earning per share

The basic earnings per share is computed
by dividing the profit/(loss) for the year
attributable to the equity shareholders by
the weighted average number of equity

shares outstanding during the year.
For the purpose of calculating diluted
earnings per share, profit/(loss) for the year
attributable to the equity shareholders
and the weighted average number of the
equity shares outstanding during the year
are adjusted for the effects of all dilutive
potential equity shares."

P) Rounding of amounts

All amounts disclosed in the financial
statements and notes have been
rounded off to the nearest lakh as per
the requirement of Schedule III, unless
otherwise stated.

Q) 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. For the year
ended March 31, 2025, MCA has not
notified any new standards or amendments
to the existing standards appliable
to the Company.

3. Critical estimates and Judgements

The preparation of financial statements
requires the use of accounting estimates
which, by definition, will seldom equal the
actual results. Management also needs
to exercise judgement in applying the
Company's accounting policies.

This note provides an overview of the areas
that involved a higher degree ofjudgement
or complexity, and of items which are
more likely to be materially adjusted due
to estimates and assumptions turning
out to be different than those originally
assessed. Detailed information about
each of these estimates and judgements
is included in relevant notes together
with information about the basis of
calculation for each affected line item in
the financial statements.

Estimates and judgements are continually
evaluated. They are based on historical
experience and other factors, including
expectations of future events that may
have a financial impact on the Company
and that are believed to be reasonable
under the circumstances.

14.1.1 Secured Loans

The Company has availed term loans from Indian Bank which is secured by pari-passu basis by the primary
hypothecation of Stocks & Book Debts, Plant & Machinery & Furniture Fixtures and secondary charge by
way of hypothecation on factory land and buildings and Personal Guarantee of K Aditya Vissam (Managing
Director). The loan carries floating rate of interest and the same as on 31.03.2025 is 8.7% p.a. (P.Y 9.65% p.a)

The Company has availed Covid loans from Indian Bank, which is secured by pari-passu basis by assets
created out of the loan. The loan carries floating interest rate and the same as on 31.03.2025 is 8.7% p.a.
(P.Y 9.25% p.a.)

14.1.2 Unsecured Loans

Unsecured loans represent interest free loans taken from the directors.Further, there is no expected
repayment in the next 12 months period.

Note - 29

(i) Leave obligations

The leave obligation covers the Company's liability for earned leave which is unfunded.

(ii) Defined contribution plans

The Company has defined contribution plans namely Provident fund. Contributions are made to
provident fund at the rate of 12% of basic salary as per regulations. The contributions are made to
registered provident fund administered by the Government. The obligation of the Company is limited to
the amount contributed and it has no further contractual nor any constructive obligation. The expense
recognised during the year towards defined contributions plan is as follows:

(iii) Post- employment obligations

Gratuity

The Company provides for gratuity for employees as per the Payment of Gratuity Act, 1972. The amount
of gratuity payable on retirement/termination is the employees last drawn basic salary per month
computed proportionately for 15 days salary multiplied for the number of years of service. The Company
operates post retirement gratuity plan with LIC of India. The present value of obligation is determined
based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of
service giving rise to additional unit of employee benefit entitlement and measures each unit separately
to build up the final obligation.

The above sensitivity analysis is based on a change in each 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.

v) Risk exposure

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of
which are detailed below:

Interest rate risk:

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond
yields fall, the defined benefit obligation will tend to increase.

Salary inflation risk:

Higher than expected increases in salary will increase the defined benefit obligation.

Demographic risk:

This is the risk of variability of results due to unsystematic nature of decrements that include mortality,
withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation
is not straight forward and depends upon the combination of salary increase, discount rate and vesting
criteria. It is important not to overstate withdrawals because in the financial analysis the retirement
benefit of a short career employee typically costs less per year as compared to a long service employee.

30. Financial instruments and risk management

Fair values

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

The fair value of financial assets and liabilities is included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

Set out below, is a comparision by class of the carrying amounts and fair value of the Company's financial
instruments, other than those with carrying amounts that are reasonable approximation of fair values:

*Fairvalue of instruments is classified in various fair value hierarchies based on the following three levels:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques, which maximise the use of observable market data and rely as little as possible on
entity specific estimates. If significant inputs required to fair value an instruments are observable, the
instrument is included in Level 2.

Level 3: If one or more of the significant inputs are not based on observable market data, the instruments
is included in level 3.

Management uses its best judgement in estimating the fair value of its financial instruments.
However, there are inherent limitations in any estimation technique. Therefore, for substantially all
financial instruments, the fair value estimates presented above are not necessarily indicative of the
amounts that the Company could have realized or paid in sale transactions as of respective dates.
As such, the fair value of financial instruments subsequent to the reporting dates may be different from
the amounts reported at each reporting date. In respect of investments as at the transaction date, the
Company has assessed the fair value to be the Realisable Value.

31. Financial risk management

The Company is exposed to market risk (fluctuation in foreign currency exchange rates, price and interest
rate), liquidity risk and credit risk, which may adversely impact the fair value of its financial instruments.
The Company assesses the unpredictability of the financial environment and seeks to mitigate potential
adverse effects on the financial performance of the Company.

(A) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market prices. Market risk comprises of currency risk, interest rate risk and price
risk. Financial instruments affected by market risk include loans and borrowings, trade receivables and
trade payables.

(i) Foreign currency exchange rate risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate
because of changes in foreign exchange rates. The Company’s exposure to the risk of changes in
foreign exchange rates relates primarily to the company's operating activities(when revenue or
expense is denominated in a foreign currency). The exposure of entity to foreign currency risk is Nil
as on Balance Sheet date.(P.Y: Nil)

(ii) Interest rate risk

I nterest rate risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of change in market interest rates. The Company’s exposure to the risk of
changes in market interest rates relates primarily to the Company’s debt obligations with
floating interest rates. As the Company has certain debt obligations with floating interest rates,
exposure to the risk of changes in market interest rates are dependent of changes in market
interest rates. Management monitors the movement in interest rate and, wherever possible,
reacts to material movements in such rates by restructuring its financing arrangement.
As the Company has no significant interest bearing assets, the income and operating cash flows are
substantially independent of changes in market interest rates."

The assumed increase/(decrease) in interest rate for sensitivity analysis is based on the currently
observable market environment.

(B) Credit Risk

Credit risk is the risk arising from credit exposure to customers, cash and cash equivalents held with
banks and current and non-current held-to maturity financial assets.

With respect to credit exposure from customers, the Company has a procedure in place aiming to
minimise collection losses. Credit Control team assesses the credit quality of the customers, their
financial position, past experience in payments and other relevant factors. Cash and other collaterals
are obtained from customers when considered necessary under the circumstances.

The carrying amount of trade receivables, loans, advances, deposits, cash and bank balances and bank
deposits represents company’s maximum exposure to the credit risk. No other financial asset carry a
significant exposure with respect to the credit risk. Bank deposits and cash balances are placed with
reputable banks and deposits are with reputable government, public bodies and others.

The credit quality of financial assets is satisfactory, taking into account the allowance for credit losses.

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each
customer. However, management also considers the factors that may influence the credit risk of its
customer base, including default risk associate with the industry and country in which customers
operate. Credit quality of a customer is assessed based on an extensive credit rating scorecard and
individual credit limits are defined in accordance with this assessment.

An impairment analysis is performed at each reporting date on an individual basis for major receivables.
In addition, a large number of minor receivables are grouped into homogenous groups and assessed for
impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value
of each class of financial assets.

i . Credit risk on cash and cash equivalents and other bank balances is limited as the Company
generally invest in deposits with banks with high credit ratings assigned by external agencies.

ii. Credit risk on trade receivables and other financial assets is evaluated as follows:

(iii) Significant estimates and judgements

Impairment of financial assets:

The impairment provisions for financial assets disclosed above are based on assumptions about risk
of default and expected loss rates. The company uses judgement in making these assumptions and
selecting the inputs to the impairment calculation, based on the company's past history, existing
market conditions as well as forward looking estimates at the end of each reporting period.

(C) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding to
meet obligations when due and to close out market positions. Company’s treasury maintains flexibility
in funding by maintaining availability under deposits in banks.

Management monitors cash and cash equivalents on the basis of expected cash flows.

32. Capital management

A. Capital management and Gearing ratio

For the purpose of the Company's capital management, capital includes issued equity capital, share
premium and all other equity reserves attributable to the equity holders. The primary objective of the
company's capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic
conditions and the requirements of the financial covenants. The Company monitors capital using a
gearing ratio, which is debt divided by total capital. The Company includes within debt, interest bearing
loans and borrowings.

37. Segment Information

a) The company's Managing Director and Chief Financial Officer examine the Company's
performance from a product prospective and have identified one operating segment viz
Production and sale of bakery products. Hence, segment reporting is not given.

b) Information about products:

Revenue from external customers - Sale of Bakery Products ' 5256.34 lakhs

41. No funds have been advanced / loaned / invested (from borrowed funds or from share premium or
from any other sources / kind of funds) by the Company to any other person(s) or entity(ies), including
foreign entities (Intermediaries), with the understanding (whether recorded in writing or otherwise) 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 No funds have been received by the Company from
any person(s) or entity(ies), including foreign entities (Funding Parties), 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 on behalf of the Ultimate Beneficiaries.

42. Code on Social Security

The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions
by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released
draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from
stakeholders which are under active consideration by the Ministry. The Company will assess the impact and
its evaluation once the subject rules are notified and will give appropriate impact in its financial statements
in the period in which, the Code becomes effective and the related rules to determine the financial
impact are published.

The accompanying notes are an integral part of the financial statements.

As per our report of even date

For M. Anandam & Co., On behalf of Board of Directors

Chartered Accountants

(Firm Registration No.: 000125S)

Y Lakshmi Nagaratnam K. Aditya Vissam R. Ravichandran

Partner Managing Director Whole time Director

Membership Number: 212926 (DIN: 06791393) (DIN: 00110930)

D Venugopal Md. Ibrahim Pasha

Place: Hyderabad Chief Financial Officer Company Secretary

Date: 30.05.2025 (PAN: AZGPD0487P) (Membership No: A39535)