2.14 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, and a
reliable estimate can be made of the amount of the
obligation.

The amount recognised as a provision is the best
estimate of the consideration required to settle the
present obligation at the end of the reporting period,
taking into account the risks and uncertainties
surrounding the obligation. When a provision is
measured using the cash flows estimated to settle
the present obligation, its carrying amount is the
present value of those cash flows.

2.15 Cash and cash equivalents

Cash and Cash Equivalents in the balance sheet
and for the purpose of cash flow statement
comprise cash in hand and cash at bank including
fixed deposit with original maturity period of three
months and short term highly liquid investments
with an original maturity of three months or less
net of outstanding bank over drafts as they are
considered an integral part of the Company's cash
management.

2.16 Cash dividend and non-cash distribution to equity
holders

The Company recognises a liability to make cash
or non-cash distributions to equity holders of the
Company when the distribution is authorised and
the distribution is no longer at the discretion of
the Company. As per the corporate laws in India,
a distribution is authorised when it is approved
by the shareholders. A corresponding amount is
recognised directly in equity.

Non-cash distributions are measured at the fair
value of the assets to be distributed with fair value
re-measurement recognised directly in equity.

Upon distribution of non-cash assets, any difference
between the carrying amount of the liability and
the carrying amount of the assets distributed is
recognised in the statement of profit and loss.

2.17 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. The weighted average number of equity
shares outstanding during the period and for all
periods presented is adjusted for events, such as
bonus 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 is adjusted for the effects of all
dilutive potential equity shares.

2.17 Non-current assets held for sale

The Company classifies non-current assets as held
for sale if their carrying amounts will be recovered
principally through a sale rather than through
continuing use. Non-current assets classified as
held for sale are measured at the lower of their
carrying amount and fair value less costs to sell.
Costs to sell are the incremental costs directly
attributable to the disposal of an assets.

The criteria held for sale classification is regarded
as met only when the sale is highly probable and
the asset or disposal is available for immediate
sale in the present condition. Action require to
complete the sale should indicate that it is unlikely
that significant changes to the sale will be made
or that the decision to sale will be withdrawn. The
Company must be committed to the sale and the
sale expected within one year from the date of
classification.

Assets classified as held for sale are presented

4 separately from other items in the balance sheet.

2.19 Contingent liabilities

i

Contingent liability is-

I

' (a) a possible obligation arising from past events

and whose existence will be confirmed only
by the occurrence or non-occurrence of one

or more uncertain future events not wholly
within the control of the entity or

(b) a present obligation that arises from past
events but is not recognised because

- it is not probable that an outflow
of resources embodying economic
benefits will be required to settle the
obligation or

- the amount of the obligation cannot be
measured with sufficient reliability.

The Company recognise a contingent liability and
discloses the same as per the requirements of Ind
AS 37.

2.20 Segment reporting

The group is primarily engaged in the business
of retail trade through retail and departmental
store facilities, which in the terms of Ind AS 108
on 'Operating Segments', constitutes a single
reporting segment. which is also reviewed by the
Chief Operating Decision Maker (CODM).

The Company operates in a single geographical
environment i.e. in India.

2.A Critical accounting judgments and key sources of
estimation uncertainty

The preparation of the financial statements requires
management to make judgements, estimates and
assumptions about the reported amounts of assets
and liabilities, and, income and expenses that are
not readily apparent from other sources. Such
judgments, estimates and associated assumptions
are evaluated based on historical experience and
various other factors, including estimation of
the effects of uncertain future events, which are
believed to be reasonable under the circumstances.
Actual results may differ from these estimates. The
estimates and underlying assumptions are reviewed
on an on-going basis. Revisions to accounting
estimates are recognised in the period in which the
estimate is revised if the revision affects only that
period or in the period of the revision and future
periods if the revision affects both current and
future periods.

The following are the critical judgements
and estimations that have been made by the
management in the process of applying the
Company's accounting policies and that have the

most significant effect on the amount recognised
in the financial statements and/or key sources of
estimation uncertainty that may have a significant
risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next
financial year.

Share based payment

The Company has a share option scheme for
certain employees of the Company, In accordance
with the terms of the share option scheme, as
approved by shareholders at the general meeting.
Employees with a pre-defined grade may be
granted options to purchase equity shares and
restricted stock units (stock units). Each share
option and stock unit converts into one equity
share of the Company on exercise. No amounts
are paid or payable by the recipient on receipt
of the option. The options carry neither rights
to dividends nor voting rights. Options may be
exercised with in two-four years from the date of
grant, as per vesting schedule. The share options
vests based on a pre-determined vesting schedule
from the date of grant.

Equity settled transactions

The Company initially measures the cost of equity-
settled transactions with employees using a
binomial model to determine the fair value of the
liability incurred. Estimating fair value for share-
based payment transactions requires determination
of the most appropriate valuation model, which
is dependent on the terms and conditions of the
grant. This estimate also requires determination
of the most appropriate inputs to the valuation
model including the expected life of the share
option, volatility and dividend yield and making
assumptions about them.

The assumptions and models used for estimating
fair value for share-based payment transactions are
disclosed in Note 33.

Taxes

Current tax

Current income tax assets and liabilities are
measured at the amount expected to be recovered
from or paid to the taxation authorities.

As stated in Note 25, tax expense is calculated
using applicable tax rates and tax laws that have
been enacted or substantively enacted.

In arriving at taxable profit and tax bases of assets '
and liabilities, the Company recognised taxability
of amounts in accordance with tax enactments,
case law and opinions of tax counsel, as relevant.
Where differences arise on tax assessment, these
are booked in the period in which they are agreed
or on final closure of assessment.

Deferred tax

Deferred tax is provided using the liability method
on temporary difference between the tax bases of
assets and liabilities and their carrying amounts for
financial reporting purposes at the reporting date.

Deferred assets are recognised for unused tax
losses to the extent that it is probable that taxable
profit will be available against which the losses can
be utilised. Significant management judgement is
required to determine the amount of deferred tax
assets that can be recognised, based upon the
likely timing and the level of future taxable profits
together with future tax planning strategies.
Further details on taxes are disclosed in Note 25.

The carrying amount of deferred tax assets is
reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient
taxable profit will be available to allow all or part of
the deferred tax assets to be utilised.

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

Useful lives of property, plant and equipment and
intangible assets

The Company reviews the estimated useful lives
of property, plant and equipment and intangible
assets at the end of each reporting period.

The Company at the end of each reporting
period, based on external and internal sources of
information, assesses indicators and mitigating
factors of whether a store (cash generating unit)
may have suffered an impairment loss. If it is
determined that an impairment loss has been
suffered, it is recognised in profit or loss.

Point award schemes

Customer award credits having a predetermined
life are granted to customers when they make

purchases. The fair value of the consideration on
sale of goods resulting in such award credits is
allocated between the goods supplied and the
award credits granted. The consideration allocated
to the award credits is measured by reference to
fair value from the standpoint of the holder and
revenue is deferred. The Company at the end of
each reporting period estimates the number of
points redeemed and that it expects will be further
redeemed, based on empirical data of redemption/
lapses, and revenue is accordingly recognised.

Service tax on renting of immovable properties
given for commercial use

As stated in Note 30, the Company has challenged
the retrospective levy of service tax on renting of
immovable properties given for commercial use and
pending the final disposal of the matter, which is
presently before the Supreme Court, the Company
continues not to provide for the retrospective levy.

Inventories

An inventory provision is recognised for cases
where the realisable value is estimated to be lower
than the inventory carrying value. The inventory
provision is estimated taking into account various
factors, including prevailing sales prices of
inventory item, the seasonality of the item's sales
profile and losses associated with obsolete/slow-
moving inventory items.

Employee Benefits

Provision for employee benefits in the nature of
gratuity and unpaid leave balance is estimated
on actuarial basis using a number of assumptions
which include assumptions for discount rate,
future salary increases, mortality rates, attrition
rates for employees, return on planned assets etc.
Any changes in these assumptions will impact
the carrying amount of these provisions. Key
assumptions are disclosed in Note 34.

Leases:

Ind AS 116 Leases - Estimating the lease term

The Company elected to use the recognition
exemptions for lease contracts that, at the
commencement date, have a lease term of 12
months or less and do not contain a purchase

Note : in current year, the holding has increased due to purchase of shares by promoters from open market i.e. no
fresh shares issued to promoters. Total percentage shareholding of promoters has decreased due to exercise of
shares under Share options schemes.

in F.Y.23-24, the holding has increased due to purchase of shares by promoters from open market i.e.no fresh
shared issued to promoters

3.6 Other disclosures :

The Company has one class of equity shares having a par value of '5 per share. Each equity shareholder is eligible
for one vote per share held. Each equity shareholder is entitled to dividends as and when the Company declares
and pays dividend after obtaining shareholders' approval. in the event of liquidation of the Company, the holders of
equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

3.7 The Company has issued and allotted 1,09,584 (2024 : 3,01,658) number of shares under Share options schemes
to certain employees- Refer Note 33

27. Earning Per Equity Share

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company
by weighted average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the
weighted average number of equity shares outstanding during the year plus the weighted average number of
equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares.

The following reflects the income and share data used in the basic and diluted EPS computations :

30. Exceptional Items (continued)

individual operational store. In determining value in use for the CGU, the cash flows were discounted at a rate of
14% on a pre-tax basis.

The Company has received an insurance claim of '4.11 Crores during the year ended March 31,2024 out of the total
claim of '4.90 Crores and balance amount of '0.79 Crores has been disclosed as exceptional item.

31. Segment reporting

The Company is primarily engaged in the business of retail trade through retail and departmental store facilities,
which in the terms of Ind AS 108 on 'Operating Segments', constitutes a single reporting segment.

i) The Company operates in a single geographical environment i.e. in India.

ii) No single customer contributed 10% or more to Company's revenue.

iii) The Company does not have any non current assets outside India.

32. Derivatives/Forward foreign exchange contracts

a) The Company does not have any foreign currency forward contracts to hedge its risks associated with foreign
currency exposures relating to the underlying transactions and firm commitments. The Company does not
enter into any derivative instruments for trading and speculative purposes.

There are no outstanding Forward Exchange Contracts entered into by the Company as at March 31,2025.

b) Unhedged Foreign Currency exposure

The following are the foreign currency exposures that have not been hedged by a derivative instrument or
otherwise at the end of the year.

34. Employee Benefits

34.1 Defined contribution plans

The Company operates defined contribution plan (Provident fund) for all qualifying employees of the Company.
The employees of the Company are members of a retirement contribution plan operated by the government. The
Company is required to contribute a specified percentage of payroll cost to the retirement contribution scheme to
fund the benefits. The only obligation of the Company with respect to the plan is to make the specified contributions.

The Company's contribution to Provident Fund aggregating '18.51 Crores (2024: '17.16 Crores) has been recognised
in the Statement of Profit and Loss under the head Employee Benefits Expense.

Information about the contribution to defined contribution plan for key managerial personnnel is disclosed in
Note 36.

34.2 Defined benefit plan

The Company sponsors funded defined benefit (Gratuity) plan for qualifying employees, covered under the Payment
of Gratuity Act, 1972. The defined benefit plan is administered by a third-party insurer (Life Insurance Corporation
of India). This third-party insurer is responsible for the investment policy with regard to the assets of the plan.

Under the plan, the employees are entitled to a lump-sum amounting to 15 days' final basic salary for each year of
completed service payable at the time of retirement/resignation provided the employee has completed 5 years of
continuous service.

The sensitivity analysis presented above may not be representative of the actual change in the defined 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 defined benefit obligation
has been calculated using the projected unit credit method at the end of the reporting period, which is the
same as that applied in calculating the defined benefit obligation asset recognised in the balance sheet.

There in no change in the method of valuation for the prior periods in preparing the sensitivity analysis. For
change in assumptions refer to note 34.2b above.

h) Asset liability matching strategies:

The Company has purchased insurance policy, which is basically a year-on-year cash accumulation plan in
which the interest rate is declared on yearly basis and is guaranteed for a period of one year. The insurance
Company, as part of the policy rules, makes payment of all gratuity outgoes happening during the year (subject
to sufficiency of funds under the policy). The policy, thus, mitigates the liquidity risk. However, being a cash
accumulation plan, the duration of assets is shorter compared to the duration of liabilities. Thus, the Company
is exposed to movement in interest rate (in particular, the significant fall in interest rates, which should result
in a increase in liability without corresponding increase in the asset).

The figure in bracket pertain to year ended March 31, 2024

# All the amount is provided for in the books

The Company has given corporate guarantee to banks for loans taken by subsidiaries - Refer Note 28(ii)(b)

The figure in bracket pertain to previous year

* These parties are not related to Shoppers Stop Ltd. per Ind AS 24 definition. These parties have been reported on
the basis of their classification as related party under the Companies Act 2013.

** Post employment benefits have been provided at gross level on totality basis and not available at individual
employee level.

i) Sales of E-Gift Voucher to related parties and concerned balances:

For terms of transaction

The Company entered into transactions with related parties for sale of E-Gift Vouchers on the same terms as
applicable to third parties in an arm's length transaction and in the ordinary course of business. The Company
mutually negotiates and agrees sales price, discount and payment terms with the related parties by benchmarking
the same to transactions with non-related parties, who purchase E-Gift Vouchers of the Company in similar
quantities. Such sales generally include payment terms requiring related party to make payment within 30 to 90
days from the date of invoice.

For terms of balance

Trade receivables outstanding balances are unsecured, interest free and require settlement in cash. No guarantee
or other security has been received against these receivables. The amounts are recoverable within 30 to 90 days
from the reporting date (March 31,2024: 30 to 90 days from the reporting date). For the year ended March 31,2025,
the Company has not recorded any impairment on receivables due from related parties (March 31, 2024: Nil).

ii) Commission paid to related parties:

For terms of transaction

The Company has entered into contract with its subsidiary Shoppers Stop.Com (India) Limited to act as agent of
the Company. The Company pays commission to its subsidiary on the same terms as applicable to third parties in
an arm's length transaction and in the ordinary course of business. The Company mutually negotiates and agrees
commission and payment terms with the related parties by benchmarking the same to sale transactions with non¬
related parties entered into by the counter-party and similar transactions entered into by the Company with the
other non-related parties. Such transactions generally include payment terms requiring the Company to make
payment within 30 to 90 days from the date of secondary sale.

For terms of balance

Trade receivables outstanding balances are unsecured, interest free and require settlement in cash. No guarantee
or other security has been received against these receivables. The amounts are recoverable within 30 to 60 days
from the reporting date (March 31,2024: 30 to 90 days from the reporting date). For the year ended March 31,2025,
the Company has not recorded any impairment on receivables due from related parties (March 31, 2024: Nil).

iii) Commission received from related parties:

For terms of transaction

The Company has entered into contract with its subsidiary, Global SS Beauty Brands Limited to act as an agent
of the subsidiary. Commission received from subsidiary are on the same terms as applicable to third parties in an
arm's length transaction and in the ordinary course of business. The Company mutually negotiates and agrees
commission and payment terms with the related parties by benchmarking the same to transactions with non¬
related parties entered into by the counter-party and similar purchase transactions entered into by the Company
with the other non-related parties. Such transactions generally include payment terms requiring the subsidiary to
make payment within 30 to 90 days from the date of secondary sale.

For terms of balance

Trade payables outstanding balances are unsecured, interest free and require settlement in cash. No guarantee
or other security has been given against these payables. The amounts are payable within 30 to 90 days from the
reporting date (March 31, 2024: 30 to 90 days from the reporting date).

iv) Services rendered to related parties
For terms of transaction

The Company has entered into contract with subsidiary Global SS Beauty Brands Limited for marketing the products
of its subsidiary. The terms are similar as applicable to third parties in an arm's length transaction and in the ordinary
course of business. The Company mutually negotiates and agrees the price and payment terms with the related
parties by benchmarking the same to the services rendered to non-related parties entered into by the counter¬
party and similar services rendered by the Company to other non-related parties.

For terms of balance

Outstanding balances of contract assets is related to the revenue recognised for providing marketing services to
Global SS Beauty Brands Limited. Trade receivables outstanding balances related are unsecured, interest free and
require settlement in cash. No guarantee or other security has been received against these assets. The amounts
are recoverable within 30 to 90 days from the invoice date. For the year ended March 31, 2025, the Company has
not recorded any impairment on contract assets or receivables due from related parties (March 31, 2024: Nil).

36. Related party disclosures (continued)

v) Services received from related parties

(a) Professional services: During the year 2024-25, the Company obtained management and advisory services
from a management consultancy firm over which one of the director exercises significant influence. The
amount billed for this service was ' 15 Lacs (2023-24: Nil) and the terms are same as applicable to third parties
in an arm's length transaction and in the ordinary course of business. The service agreement included payment
terms requiring the Company to make payment within 30 to 90 days from the date of invoice. The amount was
fully paid at the reporting date.

(b) Training and Development expenses: During the year 2024-25, the Company obtained training and development
services from a consultancy firm over which one of the director exercises significant influence. The amount
billed for this service was ' 5 Lacs (2023-24: Nil) and the terms are same as applicable to third parties in an
arm's length transaction and in the ordinary course of business. The service agreement included payment
terms requiring the Company to make payment within 30 to 90 days from the date of invoice. The amount was
fully paid at the reporting date.

vi) Advance given to related parties

Advance to subsidiaries

The Company has given trade advance to its subsidiary for routine business expenditure. The advance has been
utilised by the subsidiary for the purpose it was obtained. The advance has been repaid by the subsidiary during the
year.

vii) Investment made in Global SS Beauty Brands Limited - Subsidiary Company

The Company has invested in Non-Cumulative Optionally Convertible Preference Shares (NOCPS) of Global SS
Beauty Brands Limited for routine business expenditure. The investment has been utilised by the subsidiary for
the purpose it was obtained. Each preference share has a par value of ' 1,00,000 and is convertible at the option
of the issuer into Equity Shares of Global SS Beauty Brands Limited at any time upto 7 years. If the conversion
option is not done upto 7years, then the redemption done at the end of 7th year would be ' 1,40,000 per optionally
convertible preference share. The preference shares carry a dividend of 0.01% per annum. The dividend rights are
non-cumulative. The preference shares rank ahead of the equity shares in the event of liquidation.

viii) Leasing arrangement including Common Area Maintenance (CAM)

The Company has leased stores from Inorbit Malls Private Limited, Ivory Properties and Hotels Private Limited and
Trion Properties Private Limited, entities over which the promoters of the Company have control, for a period of
5-15 years. The lease requires the Company to pay fixed and variable lease rental and CAM on a monthly basis. At
the end of initial lease term, the lease agreement is renewable based on mutual negotiation and agreement. The
details of lease rental and CAM paid to these entities are disclosed in the above table.

ix) Reimbursement of Expenses/Expenses Paid/Expenses Recovered

The Company enters into transactions with related parties; Global SS Beauty Brands Limited and Shoppers Stop.
Com (India) Limited for reimbursement of certain cost incurred by the Company on behalf of its subsidiaries
(including rental expenses, clearing and forwarding, licence fees etc) which are agreed to be reimbursed at cost to
the Company.

The Company has also enters into transaction with related parties : Chalet Hotel Ltd, Ayushi & Poonam LLP, Inorbit
Inorbit Malls Private Limited, Ivory Properties and Hotels Private Limited and Trion Properties Private Limited,
Retailers Association of India; entities over which the promoters/directors of the Company have control for expenses
paid like staff welfare expenses, advertisement expenses, membership, training & developement expenses, legal &
professional expenses and recovery of expenses paid by the Company on behalf of related parties.

x) Compensation to KMP of the Company

The compensation to KMP is disclosed in the above table. The amounts are recognised as an expense during the
financial year.

37. Financial Instruments (continued)

B. Financial risk management

A wide range of risks may affect the Company's business and operational/financial performance. The risks that
could have significant influence on the Company are market risk, credit risk and liquidity risk. The Company's
Board of Directors reviews the short term and long-term budgets and sets out policies for managing these risks
and monitors suitable actions taken by management to minimise potential adverse effects of such risks on the
Company's operational and financial performance.

a) Market risk:

Market Risk is the risk that changes in market place could affect the future cash flows to the Company. The
market risk for the Company arises primarily from product price risk, interest rate risk and, to some extent,
foreign currency risk.

Product price risk: In a potentially inflationary economy, the Company expects periodical price increases
across its retail product lines. Product price increases which are not in line with the levels of customers'
discretionary spends, may affect the business/retail sales volumes. In such a scenario, the risk is managed
by offering judicious product discounts to retail customers to sustain volumes. The Company negotiates
with its vendors for purchase price rebates such that the rebates substantially absorb the product discounts
offered to the retail customers. This helps the Company protect itself from significant product margin
losses. This mechanism also works in case of a downturn in the retail sector, although overall volumes would
get affected.

Interest risk: The Company is exposed to interest rate risk primarily due to borrowings having floating interest
rates. The Company uses available working capital limits for availing short term working capital demand loans
with interest rates negotiated from time to time so that the Company has an effective mix of fixed and variable
rate borrowings. Interest rate sensitivity analysis shows that an increase/decrease of fifty basis points in
floating interest rates would result in decrease/increase in the Company's profit before tax by approximately
'0.54 Crores (2024: '0.33 Crores).

Currency risk: The Company's significant transactions are in Indian Rupees and therefore there is minimal
foreign currency risk. Generally, the Company fully covers the foreign currency risk for transactions in foreign
currency which are primarily for import of merchandise, by entering into forward cover contracts to hedge
foreign currency exposure. Also Refer Note 32 for the forward cover contracts outstanding at the end of the
reporting period.

# Holding all other variables constant.

The movement in the pre-tax effect is a result of a change in the fair value of derivative financial instruments
not designated in a hedge relationship and monetary assets and liabilities denominated in USD, CHF, EURO,
AED, GBP, where the functional currency of the entity is a currency other than USD, CHF, EURO, AED, GBP.
Although the derivatives have not been designated in a hedge relationship, they act as an economic hedge and
will offset the underlying transactions when they occur.

b) Credit risk:

Credit risk is a risk that the counterparty will default on its contractual obligation resulting in financial loss to the
Company. The credit risk for the Company primarily arises from credit exposures to trade receivables (mainly
institutional customers), deposits with landlords for store properties taken on leases and other receivables
including balances with banks.

Trade and other receivables: The Company's retail business is predominantly on 'cash and carry' basis which is
largely through credit card collections. The credit risk on such collections is minimal, since they are primarily
owned by customers' card issuing banks. The Company has adopted a policy of dealing with only credit worthy
counterparties in case of institutional customers and the credit risk exposure for institutional customers is
managed by the Company by credit worthiness checks. The Company also carries credit risk on lease deposits
with landlords for store properties taken on leases, for which agreements are signed and property possessions
timely taken for store operations. The risk relating to refunds after store shut down is managed through
successful negotiations or appropriate legal actions, where necessary.

The Company's experience of delinquencies and customer disputes have been minimal. Further, Trade and
other receivables consist of a large number of customers, across geographies; hence, the Company is not
exposed to concentration risks.

c) Liquidity Risk:

Liquidity risk is a risk that the Company may not be able to meet its financial obligations on a timely basis
through its cash and cash equivalents, and funds available by way of committed credit facilities from banks.

Management manages the liquidity risk by monitoring rolling cash flow forecasts and maturity profiles of
financial assets and liabilities. This monitoring includes financial ratios and takes into account the accessibility
of cash and cash equivalents and additional undrawn financing facilities.

The table below summarises the maturity profile (remaining period of contractual maturity at the balance
sheet date) of the Company's financial liabilities based on contractual undiscounted cash flows.

c. The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond statutory
period.

d. The Company has not traded or invested in Crypto currency or virtual currency during the financial year.

e. The Company has not given any fund to any persons or entities including the foreign entities (intermediaries)
with the understanding (whether recorded in the writing or not) that the intermediary shall:

i. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever 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.

f. The Company has not received any funds from any persons or entities including the foreign entities
(intermediaries) with the understanding (whether recorded in the writing or not) that the intermediary shall :

i. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever or on
behalf of the Funding Party (ultimate beneficiaries) or

ii. Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

g. The Company did not have any transaction which was not recorded in the books of accounts that was
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.

h. 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, except that at the database level in so far as it relates to SAP accounting software is
enabled from February 06, 2025. Further no instance of audit trail feature being tampered with was noted in
respect of other software. Additionally, the audit trail of prior year(s) has been preserved by the Company as
per the statutory requirements for record retention to the extent it was enabled and recorded in the respective
years.

i. The Company has not willfully defaulted in repayment of term loans during the year.

41. Amount appearing as zero "0.00" in financials are below the rounding off norm adopted by the Company.

42. The previous year's figures have been regrouped/reclassified wherever necessary.

In terms of our attached report of even date For and on Behalf of the Board of Directors

For S R B C & CO LLP B.S. Nagesh Neel Raheja Kavindra Mishra

ICAI Firm Reg.No.324982E/E300003 Customer Care Associate & Director Customer Care Associate &

Chartered Accountants Chairman (DIN:00029010) Managing Director &

(DIN:00027595) Chief Executive Officer

(DIN:07068041)

Firoz Pradhan Karunakaran Mohanasundaram Rakeshkumar Saini

Partner Customer Care Associate & Customer Care Associate &

Membership No. 109360 Chief Financial Officer Company Secretary

Membership No. ACS 20257

Mumbai: April 29, 2025 Mumbai: April 29, 2025