2.2    During the year, the Company derecognised equity investments previously measured at Fair Value through Other Comprehensive Income (FVTOCI). The fair value of such investments at the date of derecognision was ? 16.63 Lakh. The cumulative loss on disposal was ? 37.24 Lakh.

2.3    The Company received shares in Jio Financial Services Limited following the demerger of Reliance Industries Limited, in the same proportion as its holding in Reliance Industries Limited.

11.4 Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having face value of ? 10 each. The holder of the equity shares is entitled to dividend right and voting right in the same proportion as the capital paid-up on such equity share bears to the total paid up equity share capital of the Company. The Dividend proposed by Board of Directors is subject to approval of the share holders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company in the same proportion as the capital paid-up on the equity shares held by them bears to the total paid-up equity share capital of the Company.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotions, past experience and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The Expected Rate of Return on Plan Assets is determined considering several applicable factors, mainly the composition of Plan assets held, assessed risks, historical results of return on Plan assets and the Company's policy for Plan Assets Management.

VII.    The expected contributions for Defined Benefit Plan for the next financial year will be in line with FY 2023-24.

VIII.    Sensitivity Analysis

Significant Actuarial Assumptions for the determination of the defined benefit obligation are discount trade, expected salary increase and employee turnover. The sensitivity analysis below, have been determined based on reasonably possible changes of the assumptions occurring at end of the reporting period, while holding all other assumptions constant. The result of Sensitivity analysis is given below:

These plans typically expose the Group to actuarial risks such as: Investment Risk, Interest Risk, Longevity Risk and Salary Risk.

Investment risk : The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds.

Interest risk: A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan debt investments.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

Salary risk: The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

21.2 Corporate Social Responsibility (CSR)

(a) CSR amount required to be spent as per Section 135 of the Companies Act, 2013 read with Schedule VII thereof by the Company during the year is ? 21.68 Lakh (Previous Year ? 14.98 Lakh).

(ii)    The Income -Tax Assessments of the Company have been completed up to Assessment Year 2020-21. The total demand upto AY 2020-21 is ? 2.37 Lakh as on date. Based on the decisions of the Appellate authorities in its own case and the interpretations of other relevant provisions of the Income tax Act, 1961, the demand raised is likely to be either deleted or substantially reduced and accordingly no provision is considered necessary.

(iii)    The Company has no contracts remaining to be executed on capital account.

27 Capital Management

The Company manages its capital to ensure that it will continue as going concern while maximising the return to stakeholders. The company manages its capital structure and makes adjustment in light of changes in business condition. The overall strategy remains unchanged as compare to last year.

The financial instruments are categorized into three levels based on the inputs used to arrive at fair value measurements as described below:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3: Inputs based on unobservable market data.

Valuation Methodology

All financial Instruments are initially recognised and subsequently re-measured at fair value as described below:

a)    The fair value of investments in quoted Equity Shares, Bonds and Mutual Funds is measured at quoted price or NAV.

b)    All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

B. Financial Risk management

The Company's activities expose it to liquidity risk and credit risk. This note explains the sources of risks which the entity is exposed to and how it mitigates that risk.

Liquidity Risk

Liquidity risk is the risk that suitable sources of funding for the company's business activities may not be available. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due, so that the company is not forced to obtain funds at higher rates. The Company monitors rolling forecasts of the Company's cash flow position and ensure that the Company is able to meet its financial obligation at all times including contingencies.

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or pay amounts due causing financial loss to the company. It arises from cash and cash equivalents, derivative financial instruments, deposits from financial institutions and principally from credit exposures to customers relating to outstanding receivables. The Company deals with highly rated counterparties.

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: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. The Company is not exposed to interest rate risk, currency risk and commodity price risk.

29. The Company is mainly engaged in 'Infrastructure and Support Services Activities' catering to Indian customers. All the activities of the Company revolve around this main business. Accordingly, the Company has only one identifiable segment reportable under Ind AS 108 "Operating Segment". The Executive Director (the Chief Operational Decision Maker as defined in Ind AS 108 - Operating Segments) monitors the operating results of the entity's business for the purpose of making decisions about resource allocation and performance assessment.

Revenue of ? 57 42.86 Lakh (Previous Year ? 67 21.35 Lakh) arose from Sale of Services to Reliance Industries Limited (Entity exercising significant influence, the largest customer). No other single customer contributed 10% or more to the Company's revenue for both FY 2023-24 and FY 2022-23.

30 Details of Loans Given, Investments Made, Guarantees Given and Securities Provided during the year covered under Section 186 (4) of the Companies Act, 2013.

i)    Loans given Nil (Previous Year Nil)

ii)    Investments made are given under respective heads.

iii)    Guarantees given and Securities provided by the Company in respect of loan Nil (Previous Year Nil)

Notes:

a.    Return on Equity Ratio increased due to increase in Profit After Tax (before exceptional Items).

b.    Trade Receivable Turnover Ratio increased due to effective collection of receivables.

c.    Trade Payables Turnover Ratio decreased due to effective utilisation of credit period.

d.    Net Profit Ratio increased due to increase in Profit After Tax (before exceptional Items).

e.    Return on Capital Employed (Excluding Working Capital Financing) decreased due to reduced revenue from operations and capital employed.

f.    Return on Investment increased due to higher income from investment.

32 Other Statutory Information:

(i)    There are no balances outstanding with struck off companies as per section 248 of the Companies Act, 2013.

(ii)    The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a)    Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries), or

(b)    Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(iii)    The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a)    Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries), or

(b)    Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iv)    The Company does not have transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961.

33    Approval of Financial Statements

The Financial Statements were approved for issue by the Board of Directors at its meeting held on April 18, 2024.

34    Events After the Reporting Period

The Board of Directors have recommended dividend of ? 3.50 per equity share of ? 10/- each on the Paid-up Capital of ? 1510 Lakh for the year ended March 31, 2024, subject to approval by the members at the ensuing Annual General Meeting of the Company.

35    The figures for the corresponding previous year have been regrouped/ reclassified wherever necessary, to make them comparable.