n) Provisions and Contingent Liabilities

Provision is recognized when the Company has a present obligation as a result of past event, it is probable that an outflow of
resources embodying economic benefits 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 of the expenditure 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 estimate.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be
confirmed only by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the
Company or 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.

o) Dividend Distribution

The Company recognizes a liability to make the payment of dividend to owners of equity, when the distribution is authorized and the
distribution of the same is no longer at the discretion of the Company. As per the corporate laws in India, a distribution is authorized
when it is approved by the shareholders. A corresponding amount is recognized directly in equity.

p) Tax Expense

Income tax expense represents the sum of the tax currently payable and deferred tax. Current tax and deferred tax is recognized in
the Profit and Loss except when it relates to items that are recognized in Other Comprehensive Income.

Current tax

Current tax is the amount of expected tax payable based on the taxable profit for the year as determined in accordance with the
applicable tax rates and the provisions of the Income Tax Act, 1961.

Deferred tax

Deferred tax is recognized using the Balance Sheet approach. It represents temporary differences between the carrying amounts of
assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred
tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences
can be utilised. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial
recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor
the accounting profit. In addition, deferred tax liabilities are not recognized if the temporary difference arises from the initial
recognition of goodwill. The carrying amount of deferred tax assets is reviewed at the end of each reporting year and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year in which the liability is settled or
the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting year.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current
tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

q) Leases

The Company assesses each contract at it's inception whether a contract is, or contains, a lease. That is, if the contract conveys the
right to control the use of an identified asset for certain period of time in exchange of some consideration.

Company as a Lessee

The Company's leased asset classes primarily comprise of lease for building. The Company assesses whether a contract contains a
lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified
asset for a period of time in exchange of some consideration. To assess whether a contract conveys the right to control the use of an
identified asset, the Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has
substantially reaped all of the economic benefits from use of the asset over the period of the lease and (iii) the Company has the right
to direct the mode of use of the asset.

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-
value assets. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a
straight-line basis over the term of the lease. The Company recognizes lease liabilities to make lease payments and Right-of-use assets
representing the right to use the underlying assets as below :-

Right-of-use assets

The Company recognizes Right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available
for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct
costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets
are depreciated on a straight-line basis over the lease term.

Lease Liabilities

At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to
be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease
incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the
Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to
terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to
produce inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date
because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities
is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease
liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future
payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an
option to purchase the underlying asset.

The Company's lease liabilities are included in other current and non-current financial liabilities.

Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease term of
12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets
recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low-value
assets are recognized as expense on a straight-line basis over the lease term.

Company as a Lessor

Leases for which the Company is a lessor is classified as finance or operating lease. Leases in which the Company does not transfer
substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. Rental income arising is
accounted for on a straight-line basis over the lease terms. Initial direct costs incurred in negotiating and arranging an operating lease
are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income.
Contingent rents are recognized as revenue in the period in which they are earned.

r) Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity.

(i) Financial Assets

The Company classifies its financial assets in the following measurement categories:

• Those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss)

• Those measured at amortized cost

The classification of financial assets at initial recognition depends on the financial asset's contractual cash flow
characteristics and the Company's business model for managing them.

Initial recognition and measurement

In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash
flows that are 'solely payments of principal and interest (SPPI)' on the principal amount outstanding. This assessment is referred to as
the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at
fair value through profit or loss, irrespective of the business model.

The Company's business model for managing financial assets refers to how it manages its financial assets in order to generate cash
flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial
assets, or both.

Financial assets classified and measured at amortized cost are held within a business model with the objective to hold financial assets
in order to collect contractual cash flows while financial assets classified and measured at fair value through OCI are held within a
business model with the objective of both holding to collect contractual cash flows and selling.

Subsequent measurement

For purposes of subsequent measurement financial assets are classified in following categories:

• Financial assets at amortized cost

• Financial assets at fair value through other comprehensive income (FVTOCI) with recycling of cumulative gains
and losses (debt instruments)

• Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon
derecognition (equity instruments)

• Financial assets at fair value through profit or loss
Financial assets at amortized cost

A 'financial asset' is measured at the amortized cost if both the following conditions are met:

Business Model Test: The objective is to hold the financial asset to collect the contractual cash flows (rather than to sell the
instrument prior to its contractual maturity to realize its fair value changes) and;

Cash flow characteristics test: The contractual terms of the financial asset give rise on specific dates to cash flows that are solely
payments of principal and interest on principal amount outstanding.

This category is most relevant to the Company. After initial measurement, such financial assets are subsequently measured at
amortized cost using the effective interest rate (EIR) method. Amortized cost is calculated by taking into account any discount or
premium on acquisition and fees or costs that are an integral part of EIR. EIR is the rate that exactly discounts the estimated future
cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the gross carrying amount
of the financial asset. When calculating the effective interest rate, the Company estimates the expected cash flows by considering all
the contractual terms of the financial instrument but does not consider the expected credit losses. The EIR amortization is included
in other income in profit or loss. The losses arising from impairment are recognized in the profit or loss. This category general applies
to trade and other receivables.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value
recognized in the statement of profit and loss.

Financial assets designated at fair value through Other Comprehensive Income (OCI)

Upon initial recognition, the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair
value through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are not held for
trading. The classification is determined on an instrument-by-instrument basis. Equity instruments which are held for trading and
contingent consideration recognized by an acquirer in a business combination to which Ind AS103 applies are classified as at

fvtpl.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the
statement of profit and loss when the right of payment has been established, except when the Company benefits from such proceeds
as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated
at fair value through OCI are not subject to impairment assessment.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primarily
derecognized (i.e. removed from the Company's statement of financial position) when:

• The rights to receive cash flows from the asset have expired, or

• The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received
cash flows in full without material delay to a third party under a “pass through” arrangement and either;

♦ the Company has transferred substantially all the risks and rewards of the asset, or

• ♦ the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it
evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained
substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the
transferred asset to the extent of the Company's continuing involvement. In that case, the Company also recognizes an associated
liability. The transferred asset and the associated liability are measured on a basis that reflects the right and obligations that the
Company has retained.

Impairment of financial assets

In accordance with IND AS 109, the Company applies expected credit losses (ECL) model for measurement and recognition of
impairment loss on the following financial asset and credit risk exposure

• Financial assets measured at amortized cost;

• Financial assets measured at fair value through other comprehensive income(FVTOCI);

ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that
the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will
include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial
recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-
month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss
allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a
lifetime ECL).

The Company follows “simplified approach” for recognition of impairment loss allowance on:

• Trade receivables or contract revenue receivables without significant financial element;

• All lease receivables resulting from the transactions within the scope of Ind AS 116 —Leases

Under the simplified approach, the Company does not track changes in credit risk. Rather, it recognizes impairment loss allowance
based on lifetime ECLs at each reporting date, right from its initial recognition. The Company uses a provision matrix to determine
impairment loss allowance on the portfolio of trade receivables. The provision matrix is based on its historically observed default
rates over the expected life of trade receivable and is adjusted for forward looking estimates. At every reporting date, the historical
observed default rates are updated and changes in the forward looking estimates are analyzed.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the statement of
profit and loss. This amount is reflected under the head 'other expenses' in the statement of profit and loss.

(ii) Financial liabilities:

Initial recognition and measurement

Financial liabilities are classified at initial recognition as financial liabilities at fair value through profit or loss, loans and borrowings,
and payables, net of directly attributable transaction costs. All financial liabilities are recognized initially at fair value and, in the case
of loans and borrowings and payables, net of directly attributable transaction costs. The Company financial liabilities include loans
and borrowings, trade payables, trade deposits, retention money, liabilities towards services, sales incentive and other payables.

Subsequent measurement

For purposes of subsequent measurement, financial liabilities are classified in two categories:

• Financial liabilities at fair value through profit or loss

• Financial liabilities at amortized cost (loans and borrowings)

Financial liabilities at Fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated
upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred
for the purpose of repurchasing in the near term. This category also includes derivative financial instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial date of
recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses
attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to profit and loss.
All other changes in fair value of such liability are recognized in the statement of profit or loss. The Company has not designated any
financial liability as at fair value through profit and loss.

Financial liabilities at Amortized cost

After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost using the Effective interest rate
method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the Effective interest
rate amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or
costs that are an integral part of the Effective interest rate. The Effective interest rate amortization is included as finance costs in the
statement of profit and loss.

Trade Payables

These amounts represents liabilities for goods and services provided to the Company prior to the end of financial year which are
unpaid. The amounts are unsecured and are usually paid within 30 to 120 days of recognition. Trade and other payables are presented
as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at fair value
and subsequently measured at amortized cost using Effective interest rate method.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are
substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition
of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit and loss.

Offsetting of financial instruments

Financials assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle
the liabilities simultaneously.

s) Earning 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. The weighted average number of equity shares
outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, share split, and reverse share
split (consolidation of shares) that have changed the number of equity shares outstanding, without a corresponding change in
resources.

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

t) Non-current Assets held-for-sale

Non-Current Assets are classified as held-for-sale if their carrying amount will be recovered principally through a sale transaction
rather than through continuing use and sale is considered highly probable. A sale is considered as highly probable when decision has
been made to sell, assets are available for immediate sale in its present condition, assets are being actively marketed and sale has been
agreed or is expected to be concluded within 12 months of the date of classification. Non-current assets held for sale are neither
depreciated nor amortised. Assets and liabilities classified as held for sale are measured at the lower of their carrying amount and fair
value less cost of disposal and are presented separately in the Balance Sheet.

u) Standards issued but not effective

The Ministry of Corporate Affairs (“MCA”) notified new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules, as issued from time to time. The Company evaluated the following amendments for the first¬
time during the current year which are effective from 1 April, 2024.

Ind AS 116 - Lease liability in a sale and leaseback

On 9 September 2024, MCA notified amendments to Ind AS 116 via Companies (Indian Accounting Standards) Second
Amendment Rules, 2024. The amendments require an entity to recognise lease liability including variable lease payments which are
not linked to index or a rate in a way it does not result in gain on Right of Use asset it retains. The Company has evaluated the
amendment and there is no impact on its standalone financial statements.

Introduction of Ind AS 117 - Insurance contracts

On 12 August 2024 MCA notified the introduction of Ind AS 117 - Insurance contracts via Companies (Indian Accounting
Standards) Amendment Rules, 2024. It is a comprehensive standard that prescribes, recognition, measurement and disclosure
requirements, to avoid diversities in practice for accounting insurance contracts and it applies to all companies i.e., to all “insurance
contracts” regardless of the issuer. However, Ind AS 117 is not applicable to the entities which are insurance companies registered
with IRDAI. The Company has evaluated the amendments and there is no impact on its standalone financial statements.

(a) The company holds 5,00,000 shares of Rs.10/- each of Pilot Pipelines Private Limited (Formerly known as Pilot Infra Private Limited)
which is an Indian Subsidiary with CIN No. U11100DL2013PTC260028 and having registered office at New Delhi.

(b ) The company holds 10,000 shares of Rs.10/- each of South West Oil Field Services Private Limited which is an Indian Subsidiary with
CIN No. U1429HR2020PTC091579 and having registered office at Gurugram.

(c) The company holds 10,000 shares of Rs.10/- each of South West Geo Services Private Limited which is an Indian Subsidiary with CIN
No. U09900HR2025PTC127876 and having registered office at Gurugram.

(d) The company holds 52,500 shares of Alara Resources LLC, a Foreign Jointly Controlled Entity with Company Registration no. 1095339
and having registered office in Muscat, The Sultanate of Oman.

(e) The company hold 80% share in South West Samit JV, an AOP

Nature and purpose of reserves :

General Reserve : The general reserve is a free reserve which is used from time to time to transfer profits from retained earnings
for appropriation purposes. As the general reserve is created by a transfer from one component of equity to another and is not
an item of other comprehensive income, item included in the general reserve will not be reclassified subsequently to statement
of profit and loss.

Securities Premium - Securities Premium Reserve was created consequent to issue of shares at a premium. The reserves can be
utilised in accordance with section 52 of Companies Act, 2013

Retained Earning : Retained earnings represents the undistributed profits of the company.

Other Comprehensive Income : Reserve for equity instruments through other comprehensive income represents the
cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive
income, net of amount reclassified to retained earnings when those assets have been disposed off.

Share Warrant : During the year ended March 31, 2025, the Board of Directors of the Company, in their meeting held on
December 07, 2024 have approved a issuance of 28,21,411 Warrants, each are convertible into fully paid-up Equity Shares of the
Company, on preferential basis to the Promoter Group and Non-Promoter Group, up to an amount of INR 3,729.91 Lakhs, at a
issuance price of INR 132.20 per Warrants. Shareholders of the Company, in Extra-ordinary General Meeting held on January
02, 2025, approved the issuance of Warrants on preferential basis. The Company received an aggregate consideration of INR
932.48 Lakhs till February 21, 2025, towards minimum 25% of the Total Consideration of the Warrants. Each warrant is
convertible into one Equity Share of the Company once warrants are fully paid .The company can exercise its right at any time
within a period of 18 months from the date of allotment of Warrants asking for the balance 75% to make them fully paid,
eligible for conversion into equiuty shares . Equity Shares so issued upon conversion of the Warrants, shall rank pari-passu to
existing Equity Shares of the Company.

a) Term loans from HDFC bank and ICICI bank, as mentioned above, are secured by hypothecation of Vehicles, Rigs, Mud
Pumps, Compressor. commercial vehicles & Excavators funded by them and further secured by personal guarantees of
directors. Amounts payable after 12 months of Balance Sheet date, are considered as Long Term and amounts payable within 12
months, have been disclosed as "Current maturities of Long term debt" under the note "Borrowings (Current)".

b) Term loans from Tata Capital Financial Services Limited and Toyota Finance Limited, as mentioned above, are secured by
hypothecation of Rigs, Logging unit & Misc. assets funded by them . Amounts payable after 12 months of Balance Sheet date,
are considered as Long Term and amounts payable within 12 months, have been disclosed as "Current maturities of Long term
debt" under the note "Borrowings (Current)".

(a) Cash credit, Working capital demand loan, Drop down line overdraft facilities of HDFC Bank limited , Cash credit facility
of Axis Bank Limited and cash credit limits of ICICI Bank are secured by hypothecation of company's entire stock, book debts
besides deposits in the shape of Fixed deposits and further secured by personal guarantees of promoter directors and equitable
mortgage of immovable properties situated at Gurugram (Haryana) and Ranchi (Jharkhand) to HDFC Bank and equitable
mortgage of immovable property situated at Nagpur (Maharastra) in case of Axis Bank.The range of interest rates during the
year varied from 7.80% to 9.80 %.

Expenses incurred on account of the the above defined contribution plans have been included under Contribution to Provident
and other funds in Note 37 "Employee Benefit Expenses".

Defined benefit plans: -

The employer Gratuity Fund Scheme, which is defined benefit plan, is managed by the trust which maintains its investment with
HDFC Life. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the gratuity plan, every employee who
has completed at least five years of service usually gets a gratuity on departure @ 15 days of last drawn basic salary for each
completed year of service. The present value of obligation is determined based on acturial valuation using the projected Unit
Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and
measures each unit separately to build up the final obligation.

The following tables summaries 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 sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at
the end of the reporting period, while holding all other assumptions constant.

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

Furthermore, in presenting the above sensitivity analysis, the present value of the projected benefit obligation has been
calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in
calculating the projected benefit obligation as recognised in the balance sheet.

There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

*Carrying value of the financial assets and financial liabilities designated at amortised cost approximates its fair value.

Fair value hierarchy

The Company uses the following hierarchy for determining and/or disclosing the fair value of financial instruments by
valuation techniques:

The following is the basis of categorising the financial instruments measured at fair value into Level 1 to Level 3:

Level 1: This level includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for
identical assets or liabilities.

Level 2: This level includes financial assets and liabilities, measured using inputs other than quoted prices included within Level 1
that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3: This level includes financial assets and liabilities measured using inputs that are not based on observable market data
(unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are
neither supported by prices from observable current market transactions in the same instrument nor are they based on available
market data.

b) Financial risk management

The Company’s corporate treasury functions provides services to the business, coordinates access to the financial markets,
monitors and manages the financial risks relating to operations of the Company through internal risk reports which analyse
exposure by degree and magnitude of risk. These risks include market risk (including currency risk, interest rate risk and other
price risks, credit risk and liquidity risk).

The principal financial assets of the Company include loans, trade and other receivables, and cash and bank balances that derive
directly from its operations. The principal financial liabilities of the Company, include loans and borrowings, trade and other
payables and the main purpose of these financial liabilities is to finance the day to day operations of the Company.

The Company’s senior management oversees the management of these risks. The senior professionals working to manage the
financial risks and the appropriate financial risk governance framework for the Company are accountable to the Board of
Directors and Audit Committee. This process provides assurance to Company’s senior management that the Company’s
financial risk-taking activities are governed by appropriate policies and procedures and that financial risk are identified,
measured and managed in accordance with Company policies and Company risk objective. In the event of crisis caused due to
external factors, the management assesses the recoverability of its assets, maturity of its liabilities to factor it in cash flow
forecast to ensure there is enough liquidity in these situations through internal and external source of funds. These forecast and
assumptions are reviewed by board of directors.

This note explains the risks which the Company is exposed to and policies and framework adopted by the Company to manage
these risks.

i. Credit risk

Credit risk is the risk that counter party will not meet its obligations leading to a financial loss. The Company is exposed to credit
risk arising from trade receivables. All financial assets are initially considered performing and evaluated periodically for expected
credit loss. A default on a financial asset is when there is a significant increase in the credit risk which is evaluated based on the
business environment. The assets are written off when the Company is certain about the non-recovery.

a. Trade receivables

The Company extends credit to customers in normal course of business. The Company considers factors such as credit track
record in the market and past dealings for extension of credit to customers. The Company monitors the payment track record of
the customers. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on trade receivables by lifetime expected credit loss method based
on provision matrix. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial
assets. The Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade
receivables as low, as its major customers are Public Sector Undertakings. All debtors are good and realizable within the current
financial year.

b. Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company’s treasury department in accordance
with the Company’s policy. Investments of surplus funds are made in bank deposits and other risk free securities. The limits are
set to minimize the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure to make
payments. The Company’s maximum exposure to credit risk for the components of the balance sheet at 31 March 2025 is the
carrying amounts.

Trade Receivables and other financial assets are written off when there is no reasonable expectation of recovery, such as debtor
failing to engage in the repayment plan with the Company.

ii. Liquidity risk

The financial liabilities of the Company include loans and borrowings, trade and other payables. The Company's principal
sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company monitors
its risk of shortage of funds to meet the financial liabilities using a liquidity planning tool. The Company plans to maintain

sufficient cash and marketable securities to meet the obligations as and when fall due.

\

The table below analyses the Company's financial liabilities and financial assets into relevant maturity groupings based on their
contractual maturities:

iii. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market risk comprises three types of risk: currency rate risk, interest rate risk and other price risks, such as equity price risk
and commodity price risk. Financial instruments affected by market risks include loans and borrowings, deposits, investments,
and foreign currency receivables and payables. The sensitivity analysis in the following sections relate to the position as at
reporting date. The analysis exclude the impact of movements in market variables on: the carrying values of gratuity and other
post-retirement obligations; provisions; and the non-financial assets and liabilities. The sensitivity of the relevant Profit and
Loss item and equity is the effect of the assumed changes in the respective market risks. This is based on the financial assets and
financial liabilities held as of March 31,2025 and March 31,2024.

a) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument 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 foreign currency). The Company evaluates
exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

Foreign currency sensitivity analysis

The following tables demonstrate the sensitivity to a reasonably possible change in USD, EURO and OMR exchange rates, with
all other variables held constant. The impact on the Company’s profit before tax is due to changes in the fair value of monetary
assets and liabilities including non-designated foreign currency derivatives and embedded derivatives.

b) Interest rate risk

Interest 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.

c) Capital Management

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's primary objective when managing capital is to ensure that it maintains
an efficient capital structure and healthy capital ratios and safeguard the Company's ability to continue as a going concern in
order to support its business and provide maximum returns for shareholders. The Company also proposes to maintain an
optimal capital structure to reduce the cost of capital.

For the purpose of the Company's capital management, capital includes issued equity share capital, security premium reserve
and all other equity reserves. Net debt includes, interest bearing loans and borrowings less cash and cash equivalents.. The
Company monitors capital using gearing ratio, which is net debt divided by total capital.

Debt- Equity Ratio:- The recent Prefrential Issue of Equity share coupled with higher profit after tax at during the year has
resulted in significant improvement in debt equity ratio.

Return on Equity: - The higher profit after tax during the current year has resulted in improved return on equity.

Inventory Turnover Ratio:- During the year the company registered significant growth in revenue, year on basis coupled with
better inventory management has led to the better Inventory Turnover ratio.

Net Profit Ratio:- The growth in revenue has resulted in incremental contribution coupled with reduction in expenses has
resulted in improvement in the Net Profit Ratio.

Return on Capital employed:- Due to higher profitability as explained in forgoing, the Return on capital employed hence also
improved significantly.

Return on Investment:- The return on investment includes interest income on fixed deposit in bank. During the year the fixed
deposit amount has significantly gone up resulting in reduction in overall return on investment. It may be noted here that profit
earned on investments in shares of Alara Resources LLC and Pilot Pipelines Pvt Ltd., as depicted in consolidated Profit and
Loss account, have not been considered for arriving at the ratio. After adding those profits the ratio will improve significantly .

54. ASSETS CLASSIFIED AS HELD FOR SALE

Disclosure as required by Ind AS - 105 - Non-current Assets Held for Sale and Discontinued Operations

a) Description of the non-current asset - Car Honda City VXMT

b) description of the facts and circumstances of the sale leading to the expected disposal, and the expected manner and timing
of that disposal - The deal for disposal of car was done before 31/03/2025 and advance was collected but delivery could
take place only afterwards hence being classified as assetheld for sale.

55. DETAILS OF BENAMI PROPERTY HELD

No proceedings have been intiated on or pending against the company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988(45 of 1988) and rules made thereunder.

56. BORROWING SECURED AGAINST CURRENT ASSETS

The company has borrowed working capital loans from banks on the security of curent assets . The quaterly returns or
statement filed by the company with the banks are in aggrement with banks of accounts.

57. WILFUL DEFAULTER

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

58. RELATIONSHIP WITH STRUCK OFF COMPANIES

The company has no transactions with the companies struck off under section 248 of the companies Act, 2013 or section 560
of the companies act, 1956.

59. REGISTRATION OF CHARGES OR SATISFACTION WITH REGISTRATION OF COMPANIES (ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory Period.

60. COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES

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

61. UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM

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 or entity, 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(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

62. UNDISCLOSED INCOME

There is no income surrendered or disclosed as income during the cureent or previous year in the tax assessments under the
income Tax Act,1961,that has not been recorded previously in the books of Account.

63. DETAILS OF CRYPTO CURRENCY OR VIRTUAL CURRENCY

The company has not traded or invested in crypto curency or virtual currency during the current or previous year.

64. UTILISATION OF BORROWINGS AVAILED FROM BANKS AND FINANCIAL INSTITUTIONS

The borrowings obtained by the company from the banks and financial institutions have been applied for the purposes for
which such loans were taken.

65. Details of Loans given, Investments made and Guarantee given or security provided covered u/s 186 (4) of the Companies
Act, 2013 are given under respective heads (refer notes 7, 26 and 48).

66. OTHER ACCOUNTING POLICIES

a) Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non- current classification. An asset is
treated as current when it is:

(I) Expected to be realized or intended to be sold or consumed in normal operating cycle

(ii) Held primarily for purpose of trading

(iii) Expected to be realized within twelve months after the reporting period, or

(iv) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months
after the reporting period.

All other assets are classified as non-current.

A liability is current when:

(i) It is expected to be settled in normal operating cycle

(ii) It is held primarily for purpose of trading

(iii) It is due to be settled within twelve months after the reporting period, or

(iv) There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

All other liabilities are classified as non-current.

Deferred tax assets and deferred tax liabilities are classified as non- current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash equivalents.
The Company has identified twelve months as its operating cycle

b) Government Grants

Government Grants are recognized at their fair value when there is reasonable assurance that the grant will be received and all
the attached conditions will be complied with.

When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs,
for which it is intended to compensate, are expensed. Government grant related to the non-monetary asset are recognized at
nominal value and presented by deducting the same from carrying amount of related asset and the grant is then recognized in
profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.

c) Fair value measurement

The Company measures financial instruments at fair value at each balance sheet date. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an ordinary transaction between market participants at the measurement
date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes
place either:

(i) In the principal market for asset or liability, or

(ii) In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

A fair value measurement of a non- financial asset takes into account a market participant’s ability to generate economic benefits
by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and
best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair
value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1- Quoted(unadjusted) market prices in active markets for identical assets or liabilities

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is
significant to fair value measurement as a whole ) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature,
characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

d) Foreign Exchange Transaction and translation

Items included in the standalone financial statements are measured using the currency of the primary economic environment in
which the entity operates (‘the functional currency’). The standalone financial statements are presented in Indian Rupee (INR),
which is Company’s functional and presentation currency. Foreign currency transactions are translated into the functional
currency using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign
currencies are translated at the functional currency closing rates of exchange at the reporting date. Exchange differences arising
on settlement or translation of monetary items are recognized in Statement of Profit and Loss except to the extent of exchange
differences which are regarded as an adjustment to interest costs on foreign currency borrowings that are directly attributable to
the acquisition or construction of qualifying assets, are capitalized as cost of assets. Non-monetary items that are measured in
terms of historical cost in a foreign currency are recorded using the exchange rates prevalent on the date of the transaction.
Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates prevalent on the date
when the fair value was measured. The gain or loss arising on translation of non-monetary items measured at fair value is treated
in line with the recognition of the gain or loss on the change in fair value of the item.

67. The company has used accounting software for maintaining its books of account for the financial year ended
March 31, 2025 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. Further, during the year the Company did not come across
any instance of the audit trail feature being tampered with and audit trail has been preserved by the Company as per
the statutory requirements for record retention.

68. Previous year figures have been re-grouped/re-classified wherever necessary.

Material accounting policies 1

The accompanying notes are an integral part to the standalone financial statements

For Doogar & Asssociates For and on behalf of the Boardof Directors

Chartered Accountants
FRN No. 000561N

Vardhman Doogar Vikas Jain Piyush Jain

Partner Chairman & Managing Director Jt.Managing Director

Membership No. 517347 DIN : 00049217 DIN : 00049319

Place: Gurugram Dinesh Agarwal Vaishali

Date: May 22, 2025 Chief Financial Officer Company Secretary

M.No.55248