General 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. Where the Company expects some or all of a provision to be
reimbursed, for example under an insurance contract, the reimbursement is recognized as a
separate asset but only when the reimbursement is virtually certain. The expense relating to a
provision is presented in the statement of profit or loss net of any reimbursement. If the effect

of the time value of money is material, provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is recognized as a finance cost.

2.2.15 Employee Benefits

Employee benefits are all forms of consideration given by the company in exchange for service
rendered by employees. Employee benefits includes short-term employee benefits, post¬
employment benefits and other long-term employee benefits.

Short Term Employee Benefits

When an employee has rendered service to the company during an accounting period, the
company recognises the undiscounted amount of short-term employee benefits expected to be
paid in exchange for that service as a liability (accrued expense), after deducting any amount
already paid as an expense. Accumulated leave, which is expected to be utilized within the next
twelve months, is treated as short-term employee benefit. The Company measures the expected
cost of such absences as the additional amount that it expects to pay as a result of the unused
entitlement that has accumulated at the reporting date.

Defined Contribution Plan

Defined contribution plans are post-employment benefit plans under which an entity pays fixed
contributions into a separate entity (a fund) and will have no legal or constructive obligation to
pay further contributions if the fund does not hold sufficient assets to pay all employee benefits
relating to employee service in the current and prior periods.

When an employee has rendered service during the year, the company recognises the contribution
payable to a defined contribution plan in exchange for that service as a liability (accrued expense)
and as an expense.

Defined Benefit Plan

Defined benefit plans are those plans that provide guaranteed benefits to certain categories of
employees, either by way of contractual obligations or through a collective agreement.

The company operates funded defined benefit plan. The cost of providing benefits is determined
using the projected unit credit method, with actuarial valuations being carried out at each fiscal
year end. The obligation recognized in the consolidated statements of financial position represents
the present value of the defined benefit obligation.

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 pension obligation. Actuarial gains and losses arising from experience
adjustments and changes in actuarial assumptions are charged or credited to other comprehensive
income in the period in which they arise.

Current service cost, which is the increase of the present value of the defined benefit obligation
resulting from the employee service in the current period, is recorded as an expense as part of
cost of sales and selling, general and administrative expenses in the statement of profit and loss.
The interest cost, which is the change during the period in the defined benefit liability that arises
from the passage of time, is recognized as part of financing costs in the statement of profit and
loss.

2.2.16 Employee Stock Option Plan (ESOP)

The company recognizes compensation expense relating to share-based payments in the net
profit based on estimated fair-values of the awards on the grant date. The estimated fair value of
awards is recognized as an expense in the statement of profit and loss on a straight-line basis
over the requisite service period for each separately vesting portion of the award as if the award
was in-substance, multiple awards with a corresponding increase to share options outstanding
account.

2.2.17 Dividend

The final dividend on shares is recorded as a liability on the date of approval by the shareholders
and Interim dividends are recorded as a liability on the date of declaration by the Company’s Board
of Directors. Income tax consequences of dividends on financial instruments classified as equity
will be recognized according to where the entity originally recognized those past transactions or
events that generated distributable profits.

The company declares and pays dividends in Indian Rupees. Companies are required to pay/
distribute dividend after deducting applicable taxes. The remittance of dividends outside India is
governed by Indian law on foreign exchange and is also subject to withholding tax at applicable
rates.

2.2.18 Foreign Currencies

The Company’s financial statements are presented in Indian Rupees (INR), which is also the
company’s functional currency. Transactions in foreign currencies are initially recorded by
the Company at the functional currency spot rate at the date the transaction first qualifies for
recognition.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional
currency spot rate of exchange ruling at the reporting date. Differences arising on settlement or
translation of monetary items are recognized in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are
translated using the exchange rates as at the dates of the initial transactions. Non-monetary
items measured at fair value in a foreign currency are translated using the exchange rates at the
date when the fair value is determined. The gain or loss arising on translation of non-monetary
measured at fair value is treated in line with the recognition of gain or loss on change in fair value
in the item.

2.2.19 Income Tax

Tax expense comprises of current tax and deferred tax. Current income tax is measured at the
amount expected to be paid to the tax authorities in accordance with the Income Tax Act, 1961
enacted in India and tax laws prevailing in the respective tax jurisdictions where the Company
operates. The tax rates and tax laws used to compute the amount are those that are enacted
or substantively enacted, at the reporting date. Deferred Tax Expense or Income arises due to
temporary differences are differences between the carrying amount of an asset or liability in the
statement of financial position and its tax base. Temporary differences may be either taxable
temporary differences, which are temporary differences that will result in taxable amounts in
determining taxable profit (tax loss) of future periods when the carrying amount of the asset
or liability is recovered or settled or deductible temporary differences, which are temporary
differences that will result in amounts that are deductible in determining taxable profit (tax loss) of
future periods when the carrying amount of the asset or liability is recovered or settled. A deferred

tax asset is recognised for all deductible temporary differences to the extent that it is probable that
taxable profit will be available against which the deductible temporary difference can be utilised.
A deferred tax liability is recognised for all taxable temporary differences.

2.2.20 Inventories

Inventories are valued at the lower of cost and net realisable value.

Costs incurred in bringing each product to its present location and condition are accounted for as
follows:

i. Raw materials and Stores and spares: cost includes cost of purchase and other
costs incurred in bringing the inventories to their present location and condition. Cost is
determined on first in, first out basis.

ii. Finished goods and work in progress: cost includes cost of direct materials and labour
and a proportion of manufacturing overheads based on the normal operating capacity but
excluding borrowing costs. Cost isdetermined on first in, first out basis.

iii. Traded goods: cost includes cost of purchase and other costs incurred in bringing the
inventories to their presentlocation and condition. Cost is determined on first in, first out
basis.

Net realisable value is the estimated selling price in the ordinary course of business, less estimated
costs of completion and the estimated costs necessary to make the sale.

2.2.21 Segment Reporting
Identification of segments

The Company’s operating business are organized and managed separately according to the
nature of products and services provided, with each segment representing a strategic business
unit that offers different products/services. The Company operates in two geographical segments:
Domestic and International markets.

Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of
each segment to the total common costs.

Unallocated items

Unallocated items include general corporate income and expense items which are not allocated
to any business segment.

Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted
for preparing and presenting the financial statements of the Company as a whole.

2.2.22 Earnings per share

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

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

A provision is recognized when an enterprise has a present obligation as a result of past event
and it is probable that an outflow of resources will be required to settle the obligation, in respect
of which a reliable estimate can be made. Provisions are not discounted to its present value and
are determined based on best estimate required to settle the obligation at the balance sheet date.
These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

2.3 Recent accounting pronouncements

The Ministry of Corporate Affairs (MCA) notifies new Indian Accounting Standards or amendments
to the existing Indian Accounting Standards. There is no such notification by MCA in this regard
which would have been applicable on the company from April 01,2024.

2. During the financial year ended March 31, 2025, the Company has subscribed 15,60,000 and
6,49,350 equity shares of face value of ? 10/- each of GDN Enterprises Limited (a Company
incorporated in India) at a premium of ? 375/- per equity share.

3. During the financial year ended March 31, 2025, the Company has subscribed 2,90,50,000;
1,47,00,000 and 2,38,00,000 equity shares of face value of ? 10/- each of Bharat Innovative
Glass Technologies Private Limited (a Company incorporated in India).

4. During the financial year ended March 31,2025, the Company has subscribed 1,00,000 equity
shares of ? 10/- each of Optiemus Unmanned Systems Private Limited (a Company incorporated
in India). Optiemus Unmanned Systems Private Limited became a wholly owned subsidiary of
the Company w.e.f. June 21,2024 by virtue of holding 1,00,000 equity shares.

5. In accordance with IND AS 109, the company has assessed its investments in associates at fair
value through profit and loss (FVTPL). The fair value of the investment in Teleecare Network
India Private Limited has been valued by an independent valuer at ? 45.81/- per share, reflecting
an increase from previously recorded fair value of ? 43.85/- per share. As a result, fair value
gain of ? 312.31 lakhs has been recognized in the statement of profit and loss for the year.

Notes:

1. Security deposit includes deposit of ?300 lakhs against mortgage of property at Punjabi Bagh,
West Delhi. As per last valuation report dated November 06, 2013, the property would fetch more
than the amount given. The said amount is under dispute and the company has registered a
complaint (FIR) with the Deputy Commissioner of Police, Economic Offence Wing - Delhi Police
dated May 20, 2022 initiating legal proceedings for such recovery. Hence, due to the fact that
value of property kept as security exceeds the amount of security granted, the company has not
undertaken to credit impair such deposit.

2. Bank deposits with remaining maturity of more than 12 months includes fixed deposits amounting
to ? 68.05 lakhs (March 31, 2024 : ? 78.32 lakhs) related to assessments of sales tax/ VAT for
various years made with the several government departments of different states and have a
restriction on its use and readability.

Notes:

1. During the financial year ended March 31, 2025, the Company has advanced ? 2,100 lakhs
towards the acquisition of equity shares in its subsidiary viz. Bharat Innovative Glass Technologies
Private Limited. As on the balance sheet date, the shares had not been allotted. Accordingly,
the amount has been disclosed under “Other non-current assets” as Advance for acquisition of
shares in accordance with Schedule III to the Companies Act, 2013.

Subsequent to the reporting date, but before the approval of the financial statements, the allotment
of shares was completed in April 2025. This event has been disclosed as a non-adjusting event
in accordance with Ind AS 10 - Events after the Reporting Period.

The company has not given any advances to directors or other officers of the Company or any of
them either severally or jointly with any persons.

Nature and purpose of reserves:

(a) Retained Earnings: Retained earnings are the profits that the company has earned till date, less
any transfers to general reserve, dividends or other distributions paid to shareholders.

(b) Securities Premium: The securities premium account is used to record the premium on issue of
shares and is utilised in accordance with the provisions of the Companies Act, 2013.

(c) General Reserve: The general reserve is used from time to time to transfer profits from retained
earnings for appropriation purposes, as the same is created by transfer from one component of
equity to another.

(d) Money received against share warrants: Money received against share warrants is a capital
receipt shown under shareholders’ funds, representing advance funds from warrant holders
toward future equity share allotment upon exercise of the warrants.

Notes:

*1. Due to substantial decrease in Current assets, there is a significant change in Current ratio.

*2. Due to substantial increase in principal repayments, there is a significant change in Debt service coverage
ratio.

*3. Due to substantial decrease in Net profit after tax, there is a significant change in Return on Equity ratio.

*4. Due to substantial decrease in average inventories, there is a significant change in Inventory turnover ratio
*5. Due to substantial decrease in Net working capital, there is a significant change in Net capital turnover ratio.
*6. Due to substantial increase in total investments, there is a significant change in Return on investment.

28. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of the company's financial statements requires management to make judgements,
estimates and assumptions that affect the reported amounts of revenues, expenses, assets and
liabilities, and the accompanying disclosures and the disclosure of contingent liabilities. Uncertainties
about these assumptions and estimates could result in outcomes that require a material adjustment
to the carrying amount of assets or liabilities affected in future periods.

Judgements

In the process of applying the company's accounting policies, management has made the following
judgements, which have the most significant effect on the amounts recognised in the financial
statements:

Taxes

Significant judgements are involved in determining the provision for income taxes, including amount
expected to be paid/recovered for uncertain tax positions.

The Company reviews the carrying amount of deferred tax assets at the end of each reporting period.
The policy for the same is explained in Note No. 2.2.19.

Useful life of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting
period. This reassessment may result in change in depreciation expense in future periods. The policy
for the same is explained in Note No. 2.2.6.

Provisions and contingent liabilities

A provision is recognised when the Company has a present obligation as a result of past event if it
is probable that an outflow of resources will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences)
are not discounted to its present value and are determined based on best estimate required to settle
the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted
to reflect the current best estimates. Contingent liabilities are not recognised in financial statements.
A contingent asset is neither recognised nor disclosed in the financial statements.

Defined Benefit Plans (Gratuity Benefits)

The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are
determined using actuarial valuations. An actuarial valuation involves making various assumptions
that may differ from actual developments in the future. These include the determination of the discount
rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and
its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions.
All assumptions are reviewed at each reporting date.

The parameter most subject to change is the discount rate. In determining the appropriate discount
rate for plans operated in India, the management considers the interest rates of government bonds in
currencies consistent with the currencies of the post-employment benefit obligation.

The mortality rate is based on publicly available mortality tables. Those mortality tables tend to change
only at interval in response to demographic changes. Future salary increases and gratuity increases
are based on expected future inflation rates for the respective countries.

Further details about gratuity obligations are given in Note No. 30.

Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot
be measured based on quoted prices in active markets, their fair value is measured using valuation
techniques including the DCF model. The inputs to these models are taken from observable markets
where possible, but where this is not feasible, a degree of judgement is required in establishing
fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and
volatility. Changes in assumptions about these factors could affect the reported fair value of financial
instruments. Carrying value and approximate fair values of financial instruments are same.

Revenue recognition

The Company uses the percentage-of-completion method in accounting for its fixed price contracts.
The use of percentage-of-completion method required the Company to estimate the efforts or costs
expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended
have been used to measure progress towards completion as there is direct relationship between input
and productivity. Provision for estimated losses, if any, on uncompleted contracts are recorded in
the period in which such losses become probable based on the expected contract estimates at the
reporting period. The policy for the same is explained in Note 2.2.4.

29. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company’s activities expose it to a variety of financial risks : market risk, credit risk and liquidity
risk. The primary market risk to the Company is foreign exchange risk. The Company’s exposure to
credit risk is influenced mainly by the individual characteristic of each customer and the concentration
of risk from the top few customers.

Market Risk

The Company is exposed to foreign exchange risk through its sales and services outside India, and
purchases and services from overseas suppliers in various foreign currencies. The exchange rate
between the rupee and foreign currencies may fluctuate substantially in the future. Consequently, the
results of the Company’s operations are adversely affected as the rupee appreciates / depreciates
against these currencies.

Credit Risk

Credit risk refers to the risk of default in its obligation by the counterparty resulting in a financial loss.
The maximum exposure to the credit risk at the reporting date is primarily from unsecured trade
receivables amounting to ? 28,515.81 Lakhs and ^19,264.95 Lakhs as of March 31,2025 and March
31,2024 respectively. Trade receivables are typically unsecured and are derived from revenue earned
from customers located primarily in India. Credit risk has always been managed by the Company
through credit approvals, establishing credit limits and continuously monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business.

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with
banks and financial institutions with high credit ratings. Investments primarily include investment in
deposits with banks.

Liquidity Risk

The Company’s principal sources of liquidity are cash and cash equivalents and the cash flow that
is generated from operations. The Company has no outstanding bank borrowings. The Company
believes that the working capital is sufficient to meet its current requirements.

30. POST EMPLOYMENT BENEFIT PLANS: GRATUITY

The Company has a funded defined benefit gratuity plan.

The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has
completed five years of service is entitled to specific benefit.

The following tables summarise the components of net benefit expense recognised in the statement
of profit or loss and the funded status and amounts recognised in the balance sheet for the respective
plans:

• The estimates of rate of escalation in salary considered in actuarial valuation are after taking
into account inflation, seniority, promotion and other relevant factors including supply and
demand in the employment market. However, no explicit allowance is used for disability. The
above information is as certified by the actuary.

• Discount rate is based on the prevailing market yields of Indian Government securities as at
the balance sheet date for estimated term of the obligations.

• The sensitivity analysis above may not be representative of the actual change in the defined
benefit obligation as it is unlikely that change in assumption would occur in isolation of one
another as some assumptions may be correlated.

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

31. DETAILS OF DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES AS DEFINED UNDER
MSMED ACT, 2006

There were no micro, small and medium enterprises, to whom the Company owes dues, which are
outstanding for more than 45 days during the year ended March 31,2025. This information as required
to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been
determined to the extent such parties have been identified on the basis of information available with
the company.

(i) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of
the above pending resolution of the respective proceedings as it is determinable only on receipt
of judgements/ decisions pending with various forums/ authorities.

(ii) The company does not expect any reimbursements in respect of the above contingent liabilities.

(iii) The Company’s pending litigations comprise of claims against the Company pertaining to
proceedings pending with various direct tax, indirect tax and other authorities. The company
has reviewed all its pending litigations and proceedings and has adequately provided for where
provisions are required or disclosed as contingent liabilities where applicable, in its standalone
financial statements. The Company does not expect the outcome of these proceedings to have a
materially adverse effect on its standalone financial statements.

35. THE CODE ON SOCIAL SECURITY, 2020 (CODE) RELATING TO EMPLOYEE BENEFITS

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 had released draft rules for the Code on Social Security, 2020 on November 13, 2020.
The Company will assess the impact and its evaluation once the subject rules are notified. The
Company 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.

36. OTHER STATUTORY INFORMATION

(i) In respect of immovable properties (other than properties where the Company is the lessee and
the lease agreements are duly executed in favour of the lessee), the Company does not hold any
such property as at the reporting date.

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

(iii) 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 the Companies Act, 1956 during the financial year.

(iv) The company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.

(v) Details of crypto currency or virtual currency: The company has not traded or invested in
crypto currency or virtual currency during the respective financial years/period.

(vi) Utilization of borrowed funds and share premium: 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:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(vii) Utilization of borrowed funds and share premium: 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 :

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(viii) Undisclosed income: The company does not have any 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)

(ix) The company has not been declared wilful defaulter by any bank or financial institution or other
lender.

(x) Compliance with approved scheme(s) of arrangements: The company does not have any
scheme of arrangements which have been approved by the competent authority in terms of
sections 230 to 237 of the Act.

(xi) Compliance with number of layers of companies: The company has complied with the number
of layers prescribed under Section 2(87) of the Act read with the Companies (Restriction on
Number of Layers) Rules, 2017.

(xii) Security of current assets against borrowings: The company has neither been sanctioned
nor has availed any borrowings on the security of its current assets during the current reporting
period. Hence, reporting under this clause is not applicable.

(xiii) Audit Trail: Ministry of Corporate Affairs (MCA) vide its notification number G.S.R. 206(E) dated
March 24, 2021 (amended from time to time) in reference to the proviso to Rule 3 (1) of the
Companies (Accounts) Amendment Rules, 2021, introduced the requirement, where a company
used an accounting software, of only using such accounting software w.e.f April 01, 2023 which
has a feature of recording audit trail of each and every transaction.

The Company has assessed all of its IT applications including supporting applications considering
the guidance provided in “Implementation guide on reporting on audit trail under rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014 (Revised 2024 edition)” issued by the Institute of
Chartered Accounts of India in February 2024, and identified applications that are relevant for
maintaining books of accounts.

The Company has used accounting software for maintaining its books of account which has a
feature of recording audit trail (edit log) facility and the same has operated throughout the year for
all relevant transactions recorded in the software.

37. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the
current period's classification/disclosure.

38. The figures have been rounded off to the nearest lakhs of Rupees. The figure 0.00 wherever stated
represents amount below rounding off norms adopted by the company.

39. Note No.1 to 38 form integral part of the Standalone Balance Sheet and Standalone Statement of
Profit and Loss.

As per our attached report of even date

For Mukesh Raj & Co. For and on behalf of the Board of Directors of

Chartered Accountants Optiemus Infracom Limited

ICAI Firm's Registration Number:016693N

Monika Goel Ashok Gupta Neetesh Gupta

Partner Executive Chairman Director

ICAI Membership Number: 094072 DIN : 00277434 DIN : 00030782

Place: Noida (Uttar Pradesh) Parveen Sharma Vikas Chandra

Date: May 26, 2025 Chief Financial Officer Company Secretary

Place: Noida (Uttar Pradesh)

Date: May 26, 2025