a Provisions

A provision is recognized when the Company has a present obligation as a result of past event, if 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 obligation.

b Contingent Liability

Contingent Liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only on the occurrence or non-occurrence 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.

c Contingent Assets

Contingent Assets are neither recognized nor disclosed in the financial statements.

(xv) SEGMENT REPORTING

The Company is engaged in manufacturing of a wide range of Solar Panels which includes Solar Module, Solar PCU, Solar Battery. Considering the nature of Business and Financial Reporting of the Company, the Company is operating in only one segment. Hence Segment reporting is not applicable.

(xvi) CASH AND CASH EQUIVALENTS

Cash & cash equivalents comprise cash on hand and demand deposit with banks and corporations. The company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible to known amount of cash to be cash equivalents.

(xvii) MISCELLANEOUS EXPENDITURE

(a) Preliminary expenses will be amortized over a period of 5 years to the project.

(b) Pre-operative expenditure incurred during the construction period will be capitalizes under the respective assets head as the part of indirect construction cost to the extent the indirect expenses related to the assets. Other indirect expenditure incurred during the construction period , which is not directly related to construction activity are capitalised in the assets.

(c) Deferred revenue expenditure, for which payment has been made on liability has been raised but benefit will arise for subsequent period or period shall be changed in profit & loss accrued in equal amount upto five years.

(xviii) IPO EXPENSES

Expenses relates to IPO expenses under the companies act, 2013 have been expensed out of reserve & surplus (Security premium of shares) of the Company.

(xix) STATEMENT OF CASH FLOW

Cash flows are reported using the indirect method, whereby profit/loss before tax is adjusted for the effects of transactions of non cash nature and any deferrals or accruals of past or future cash receipts or payments. Cash flow for the year are classified by operating, investing and financing activities of the Company are segregated.

_24 OTHER NOTES AND CONTINGENT LIABILITIES

1 In the opinion of Management current assets, loans & advance are stated approximately of the value if realized in ordinary course of business unless other wise stated. The provision of liabilities are adequate and not excess of the amount reasonable necessary.

2 Figures for Previous year has been regrouped/ rearranged where are necessary.

3 Amounts in the standalone financial statements are rounded off to nearest Lakhs. Figures in brackets indicate negative values.

4 Company is contingent liable:-

(i) In respect of demand/ penalty if any in respect of Pending Sales Tax/ GST/Entry Tax/VAT/Income Tax/ Other Taxes ,if any. The same will be accounted for in the year of actual arise demand/payment.

Company is contingent liable for GST Demand raised for Rs_on_by department. Company has already deposited Rs 3.86 Lacs under

Protest.

⁽ⁱⁱ⁾ Estimated amount of Contracts remaining to be execute on capital account and not provide for amount of Rs. Nil (Previous Year of Rs. Nil)

⁽"⁾ The Company is liable for Export obligations to be fullfill under machine imports under EPCG Licence amount of Rs. 104.65 lakhs (Previous year 104.65 lakhs). In case Company is unable to fulfill export obligation then company is liable to pay amounting to Rs.216.22 Lakhs (previous year of Rs. 200.39 Lakhs) the amount of duty save plus interest thereon.

(iv) In respect of counter guarantee given to the bank of Rs. 75.67 crore (Previous Year Rs. 48.00 crore) for guarantee given by the bank on behalf of the Insolation Green Energy Private Limited.

⁵ There is no immovable property of the company whose title deeds are not held in the name of the company

6 The disclosure of the Loans and Advances in the nature of the loans granted to promoters, directors, KMPs and the related parties (as defined in Companies Act, 2013) either severally or jointly with any other persons that are

a) Repayable on demand or

b) Without specifying any terms or period of repayments.

15 Utilisation of Borrowed Funds and Share Premium

The company has not advanced or loaned or invested funds to any other persons or entities with the understanding that, that person/entity should invest in any other person or entity identified in any manner whatsoever by or on behalf of the company or provided any guarantee, security, or like to or on behalf of the company.

The company has not received any amount from any other persons/entity with the understanding, whether written or oral, that the company shall directly or indirectly invest in any other person or entity.

For and on behalf of the Board of Directors

Insolation Energy Limited. As per our report of even date attached

SD/- ^SD/- For Badaya & Co.

(Manish Gupta) (Vikas Jain) Chartered Accountants

DIN:02917023 DIN:00812760 F.R. No.: 006395C

Chairman and Managing Director

Whole time Director

SD/- SD/- SD/-

(Madhuri Maheshwari) (Sneha Goenka) (Rohit Badaya)

Chief Financial Officer Company Secretary Partner

PAN: ANGPM6102J PAN: ATYPC0854B M No.: 078599

Place: Jaipur Date:17-05-2024