1.07 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provision involving substantial degree of estimation in measurement is recognized when there is a present
obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent
liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor
disclosed in the financial statements.

1.08 REVENUE RECOGNITION

Revenue comprises of revenue from providing skill development training services.

Revenue is recognized as per the terms of arrangements entered into with individual parties (service orders or
service confirmations) and is recognized when the performance obligation of an event is satisfied.

Revenue is recognized only when it is reasonably certain that the ultimate collection will be made.

1.09 OTHER INCOME

Interest income is accounted on accrual basis. Income other than interest income is accounted for when right to
receive such income is established.

1.10 EMPLOYEE BENEFITS
Gratuity

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees.
The plan provides for lump sum payment to vested employees at retirement, death while in employment or on
termination of employment of an amount equivalent to 15 days salary payable for each completed year of
service without any monetary limit. Vesting occurs upon completion of five years of service. Provision for
gratuity has been made in the books as per actuarial valuation done as at the end of the year.

1.11 TAXES ON INCOME

Income taxes are accounted for in accordance with Accounting Standard (AS-22) - "Accounting for taxes on
income", notified under Companies (Accounting Standard) Rules, 2014. Income tax comprises of both current
and deferred tax.

Current tax is measured on the basis of estimated taxable income and tax credits computed in accordance with
the provisions of the Income Tax Act, 1961.

The tax effect of the timing differences that result between taxable income and accounting income and are
capable of reversal in one or more subsequent periods are recorded as a deferred tax asset or deferred tax
liability. They are measured using substantially enacted tax rates and tax regulations as of the Balance Sheet
date.

Deferred tax assets arising mainly on account of brought forward losses and unabsorbed depreciation under tax
laws, are recognized, only if there is virtual certainty of its realization, supported by convincing evidence.
Deferred tax assets on account of other timing differences are recognized only to the extent there is a reasonable
certainty of its realization.

1.12 CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprises Cash-in-hand, Current Accounts, Fixed Deposits with banks. Cash
equivalents are short-term balances (with an original maturity of three months or less from the date of
acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.

1.13 EARNINGS PER SHARE

Basic earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity share outstanding during the year.
Diluted earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any
attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity
shares which could have been issued on the conversion of all dilutive potential equity shares.

1.14 SEGMENT REPORTING

The Company is exclusively engaged in the business of providing skill development training services. This in
the context of Accounting Standard (AS 17) "Segment Reporting", notified under the Companies (Accounting
Standards) Rules, 2006, constitutes one single primary segment. The Company does not have a secondary
segment. Accordingly, disclosures required under AS 17 are not applicable.

Note: An inspection was conducted by offical bureau of investigation at Companies principal place of business on
09.02.2023 after which the case was filed due to discrepancies in total credit of bank account and Sales shown in books of
accounts, the officals of the company has attended the personal hearing and the officer raised the demand order rejecting
the merits of the company, there by passing a demand order U/s 74(9) of WBGST Act, 2017 vide Adjudication Case ID -
AD191123003653G. The Company has further filed an appeal regarding the same, the matter is still pending with the
joint commissioner of state tax (appeals).

29 Additional Regulatory Information as per Para Y of Schedule III to Companies Act, 2013:

i. The Company does not have any immovable property (other than properties where the Company is the lessee and
the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the
company.The title deeds of immovable property with a gross carrying value of ? 445.76 Lacs are not held in the
name of the Company, these title deeds are currently held by MPC Securities Ltd.

ii. The Company has not revalued its Property, Plant and Equipment.

iii. The Company has not granted loans or advances in the nature of loans are granted to promoters, Directors, KMPs
and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person,
that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

iv. The Company have capital work-in-progress, refer Note No. 11 for ageing schedule.

v. The Company does not have any intangible assets under development.

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

vii. The Company has borrowings from banks or financial institutions on the basis of security of current assets,
however, the company is not required to submit the quarterly returns or statements to the Bank or financials
institution, hence we are unable to comment on the same.

viii. The company is not declared as wilful defaulter by any bank or financial institution or other lender.

ix. The company does not have any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956

Reasons for Variation more than 25%:

(a) Current Ratio :The decrease in the current ratio during the reporting period is primarily attributable to an
increase in short-term borrowings.

(b) Debt-Equity Ratio: The increase in the debt-to-equity ratio during the reporting period is attributable to a rise in
total debt, which outpaced the corresponding increase in equity.

(c) Debt Service Coverage Ratio: The company has raised huge amount of debts, which is around 5.92 Crore approx
more as compared to previous year and the Cash & Bank Balances of the company has also been reduced by around
82.19 Lakhs as compared to previous year

(d) Return on Equity Ratio:The Return on Equity (ROE) has improved during the reporting period, primarily driven
by a significant increase in net profit, which rose from ?131.78 lakhs to ?262.87 lakhs. enhancement in the ROE ratio.

(e) Trade Receivables Turnover Ratio :The Trade Receivables Turnover Ratio has improved during the reporting
period, primarily due to a substantial increase in revenue from operations, which rose by approximately 69.2% from
?2,089.72 lakhs to ?3,534.51 lakhs. In comparison, trade receivables increased by only 31.7%, from ?1,637.08 lakhs to
?2,156.80 lakhs.

(f) Trade Payables Turnover Ratio :The Trade Payables Turnover Ratio increased during the reporting period,
primarily due to a significant rise in purchases, which grew by approximately 82.11%.

(g) Net Capital Turnover Ratio :The Net Capital Turnover Ratio increased during the reporting period, primarily
due to a significant rise in revenue from operations, which grew by approximately 69.2%, from ?2,089.72 lakhs to
?3,534.51 lakhs.

xiii. The Company does not have any scheme of arrangements which has been approved by the Competent Authority in
terms of sections 230 to 237 of the Companies Act, 2013.

xiv. A. 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 persons or entities, including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate
Beneficiaries") by or on behalf of the Company or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.

B. No funds have been received by the Company from any persons or entities, including foreign entities ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or
indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries")
by or on behalf of the Funding Parties or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

30 SEGMENT REPORTING

The Company is exclusively engaged in the business of providing skill development training services. This in the context
of Accounting Standard (AS 17) "Segment Reporting", notified under the Companies (Accounting Standards) Rules,
2006, constitutes one single primary segment. The Company does not have a secondary segment. Accordingly,
disclosures required under AS 17 are not applicable.

31 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current period's
classification / disclosure.

Signatures to Notes forming part of Financial Statements
For and on behalf of the Board of Directors

Abhijit Chatterjee Sayani Chatterjee Sandip Biswas Neha Maheshwari

(Whole-time Director & CEO) (Managing Director) (Chief Financial Officer) (Company Secretary)

DIN: 06439788 DIN: 06439804 PAN: AKVPB2877P PAN: AWEPM1592K

Place : Kolkata
Date : May 13, 2025