2.6 Provisions :

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that the Company will be required to settle the obligation that can be estimated reliably.

2.7 Intangible Assets :

The Company has elected to continue with the carrying value of all of its intangible assets recognised as of April 1, 2016 (the
transition date) measured as per the previous GAAP and use such carrying value as its deemed cost as of the transition date.

Costs relating to acquisition and development of computer software are capitalised in accordance with Ind-AS 38 Intangible
Assets and are amortized on a straight-line basis for a period of five years, which is management's estimate of its useful life.

2.8 Impairment of Assets :

The Company assesses at each balance sheet date whether there is any indication that any assets forming part of its cost
generating units may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If
such recoverable amount of the asset is less than the carrying amount, the carrying amount is reduced to its recoverable amount.
The reduction is treated as an impairment loss and is recognized in the profit and loss account. If at the balance sheet date, there is
an indication that a previously assessed impairment loss no longer exists, the recoverable amount is re-assessed and the asset is
reflected at the recoverable amount subject to a maximum of depreciated historical cost.

Impairment of financial assets

In accordance with Ind AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of
impairment loss on trade receivables or any contractual right to receive cash or another financial asset that result from transactions
that are within the scope of Ind AS 18.

2.9 Income taxes :

Income tax expense represents the sum of the tax currently payable and deferred tax. Current and deferred tax are recognised in
profit or loss account except when they relate to items that are recognised in other comprehensive income or directly in equity, in
which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity. respectively.

a) Current Tax

Tax on income for the current year is determined on the basis of the Income Tax Act, 1961.

b) Deferred tax:

Deferred tax is recognized on timing differences between the accounting income and the taxable income for the year and
quantified using the tax rates and laws enacted or substantially enacted on the balance sheet date. Deferred tax assets are
recognized and carried forward to the extent that there is a virtual / reasonable certainty that sufficient future taxable income will
be available against which such deferred tax can be realized.

2.10 Earning Per Share :

In determining earnings per share, the Company considers the net profit (loss) after tax. The number of shares of common stock
used in computing basic earnings per share is the weighted average number of shares of common stock outstanding during the
period. The number of equity shares used in computing diluted earnings as per share comprises weighted average number of
equity shares considered for deriving basic earnings per share.

2.11 Provisions :

Provisions are recognised 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.

2.12 Property, Plant and Equipment :

Cost of Asset

Property, plant and equipment held for use in the production or supply of goods or services, or for administrative purposes, are
stated in the balance sheet at cost (net of duty/ tax credit availed) less accumulated depreciation and accumulated impairment
losses.

Depreciation :

Depreciation is provided on Straight-Line Method ('SLM') at the rates prescribed below, which reflect the management's estimate
of useful lives of the respective fixed assets and are greater than or equal to the useful lives in Schedule II of Companies Act, 2013
. In respect of fixed assets purchased during the year, depreciation is being calculated on a pro-rata basis from the date on which
such asset is put to use. Where any asset is sold, discarded, demolished or destroyed during the year, depreciation has been
provided up to the date on which the asset is sold, discarded, demolished or destroyed.

7. Disclosure as required by IND AS 19- Employee Benefits:

Defined benefit plans for Gratuity (Funded) as per Actuarial valuation are as under :

The Company has a defined benefit gratuity plan covering all employees in compliance with the requirements of The Payment Of Gratuity Act, 1972. Every employee who has completed five years or
more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year service.

The Company has provided for Compensated Absence (PL) Scheme as required by Ind AS 19. Accumulated compensated absences, which are expected to be availed or encashed within 12 months from
the end of the year are treated as short term employee benefits. The obligation towards the same is measured at the expected cost of accumulating compensated absences as the additional amount
expected to be paid as a result of the unused entitlement as at the year end. The Company’s liability is actuarially determined.

> Provision created for earlier years with regard to the income tax has been adjusted as prior tax adjustment to the retained earnings

> The Company has assessed the actual income tax refund receivable related to earlier years.

As per our report of even date

Vinayaka Bhat & Associates For and on behalf of the Board of Directors of

Chartered Accountants SER Industries Limited

FRN: 023984S

Vinayaka Bhat Narendra Goel Ronak Jain

Proprietor Whole time director Company Secretary

M. No: 259167 DIN : 00327187 M. No: A62954

Place : Mumbai Place : Bangalore

Date : 28th May 2024 Date :28th May 2024

Mahesh Dharma Doifode Sanjay Bihari Pal

Director CFO

DIN : 08518066

Place : Bangalore Place : Mumbai Place : Mumbai

Date : 28th May 2024 Date : 28th May 2024 Date : 28th May 2024