the areas in which major operating divisions of
the Company operate.

(ii) Unallocated items

Unallocated items include general corporate
income and expense items which are not
allocated to any business segment.

(iii) Segment accounting policies

The Company prepares its segment
information in conformity with the accounting
policies adopted for preparing and presenting
the financial statements of the Company as a
whole.

(q) Material accounting judgements, estimates and
assumptions

In the process of applying the Company’s
accounting policies, management has made the
following estimates, assumptions and judgements
which have significant effect on the amounts
recognized in the financial statement:

i Income taxes

Judgment of the management is required for
the calculation of provision for income taxes
and deferred tax assets and liabilities. The
Company reviews at each balance sheet date
the carrying amount of deferred tax assets.
The factors used in estimates may differ from
actual outcome which could lead to significant
adjustment to the amounts reported in
the standalone special purpose financial
statements.

ii Contingencies

Judgment of the management is required for
estimating the possible outflow of resources,
if any, in respect of contingencies /claim/
litigations against the Company as it is not
possible to predict the outcome of pending
matters with accuracy.

iii Allowance for uncollected accounts
receivable and advances

Trade receivables do not carry any interest and
are stated at their normal value as reduced
by appropriate allowances for estimated
irrecoverable amounts. Individual trade
receivables are written off when management
deems them not collectible. Impairment is
made on ECL, which are the present value of
the cash shortfall over the expected life of the
financial assets.

iv Defined benefit plans

The cost of the defined benefit plan and other
post-employment benefits and the present
value of such obligation are determined using
actuarial valuations. An actuarial valuation
involves making various assumptions that
may differ from actual developments in future.
These Includes the determination of the
discount rate, future salary increases, mortality
rates and attrition rate. Due to the complexities
involved in the valuation and its long-term
nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All
assumptions are reviewed at each reporting
date.

Recent pronouncements

The below amendments to the existing
standard which are notified by Ministry of
Corporate affairs but are not yet effective:

Amendment to Ind AS 1 ‘Presentation of
Financial Statements’- Classification of
Liabilities as current or non-current and
non-current liabilities with covenants. The
amendment includes specific provisions that
will take effect for reporting periods beginning

on or after 1 April 2026, retrospectively, as
outlined below:

a) Breach of material covenant for long-term
loan arrangement on or before end of
reporting period with effect that liability
becomes payable on demand as on
reporting date, then it shall be classified
as current liability, if lender agreed after
reporting period and before approval
of financial statements to not demand
payment as a consequence of breach.

b) Classify as non-current liability, if lender
agreed by end of reporting period to
provide grace period ending at least 12
months after reporting period within which
entity can rectify the breach provided
lender does not demand immediate
repayment.

c) Disclose information about the timing of
settlement to understand the impact of
the liability on the financial statements.

The Company does not expect this amendment
to have an impact on its operations or financial
statements.

(a) Security deposits includes Rs. 15.86 lakh as security deposit receivable from related party-refer note no. 38 (March
31,2025: 15.86 lakh).

(b) Fixed deposit of Rs. 5 lakh is pledge against bank overdraft as on March 31, 2026 (March 31,2025 Rs. 5iakh).

(c) IPO proceeds which were unutilized as at March 31, 2026 of Rs. 15,521.69 lakhs were temporarily invested in term
deposits with scheduled banks aggregating of Rs.15,516.00 lakhs out of which Rs. 8.00 lakhs classified in other
financial assets non current and Rs.15,508.00 lakhs in bank balances other than cash and cash equivalents. The
balance amount of Rs. 5.69 lakhs was lying in the bank account (Monitoring account).

1. IPO proceeds which were unutilized as at March 31, 2026 of Rs. 15,521.69 lakhs were temporarily invested in term
deposits with scheduled banks aggregating of Rs.15,516.00 lakhs out of which Rs. 8.00 lakhs classified in other
financial assets non current and Rs.15,508.00 lakhs in bank balances other than cash and cash equivalents. The
balance amount of Rs. 5.69 lakhs was lying in the bank account (Monitoring account).

2. IPO proceeds which were unutilized as at March 31, 2025 of Rs. 18,627.74 lakhs were temporarily invested in term
deposits with scheduled banks aggregating of Rs.18,464.00 lakhs classified as Non current other financial assets .
The balance amount of Rs. 163.74 lakhs was lying in the bank account (Monitoring account).

*Note:

Pledge against bank overdraft as on March 31, 2026 of Rs. 10 lakh (March 31, 2025 10 lakh)

Pledge against bank guarantee as on March 31, 2026 of Rs. 15.5 lakh (March 31, 2025 of Rs. 15.5 lakh)

Pledge against credit card as on March 31, 2026 of Rs. 3.5 lakh (March 31,2025 of Rs. 3.5 lakh)

IPO proceeds which were unutilized as at March 31, 2026 of Rs. 15,521.69 lakhs were temporarily invested in term
deposits with scheduled banks aggregating of Rs.15,516.00 lakhs out of which Rs. 8.00 lakhs classified in other financial
assets non current and Rs.15,508.00 lakhs in bank balances other than cash and cash equivalents. The balance amount
of Rs. 5.69 lakhs was lying in the bank account (Monitoring account).

b) Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares
is entitled to one vote per share and ranking pari passu with each other. In the event of liquidation of the Company,
the holder of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution
of all preferential amounts, if any. The distribution will be in proportion of the number of equity shares held by the
shareholders. The dividend proposed, if any, by the Board of Directors is subject to approval of the shareholders in the
ensuing Annual General Meeting except in the case of interim dividend.

f) Buy Back

The aggregate number of fully paid up equity shares bought back in immediately preceding five years ended March
31, 2026 are nil (previous period of five years ended March 31, 2025: nil)

g) Bonus shares

The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding
five years ended March 31, 2026 are 5,93,81,188 shares (previous period of five years ended March 31, 2025:
5,93,81,188 shares).

h) Shares issued other than cash

On October 31, 2022 the Company has allotted 7,41,297 equity shares of face value of Rs. 10/- each, to BLS
International Services Limited as share swap consideration against the transfer of 500,000 equity shares held by
BLS International Services Limited in BLS Kendras Private Limited to BLS E-Services Limited, ranking pari passu with
existing shares.

A. Description of nature and purpose of each reserve

i Retained earnings

Retained earnings are the profits that the Company has earned till date less dividends or other distributions paid
to shareholders. Retained earnings is a free reserve available to the Company.

ii Securities premium reserve

Securities premium reserve represents premium received on issue of shares. The reserve is utilised in accordance
with the provisions of the Companies Act.

iii Re-measurement of defined benefit plans

This represents the actuarial gains/losses recognised in other comprehensive income.

iv Share based payment reserve

Share based payment reserve is used to recognise the grant date fair value of options issued to employees under
the employee stock option plan.

B. Dividends

i Final dividend on shares are recorded as liability on the date of approval by the shareholders and interim liability
are recorded as a liability on the date of declaration by the company’s Board of Directors.

ii The Company declares and pays dividends in Indian rupees. The remittance of dividends outside India is
governed by Indian law on foreign exchange and is subject to applicable distribution taxes.

Note:

1. The sale of services /products to and cost of services from related parties are made on terms equivalent to
those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest
free and settlement occurs in cash. For the year ended March 31, 2026, the Company has not recorded any
impairment of receivables relating to amounts owed by related parties (March 31, 2025: INR Nil). This assessment
is undertaken each financial year through examining the financial position of the related party and the market in
which the related party operates.

2. The short-term employee benefits includes perquisites and commission, if any and excludes, provision for
gratuity, where the actuarial valuation is done on overall Company basis.

39. Employee benefits

A) Defined contribution plan:-

The Company makes contributions towards a provident fund under a defined contribution retirement benefit plan
for qualifying employees. The provident fund is administered by Employee Provident Fund Organisation. Under this
scheme, the Company is required to contribute a specified percentage of payroll cost to fund the benefits. Both the
employees and the Company make pre-determined contributions to the provident fund.

Amount recognized as expense amounts to Rs. 35.83 lakh for the year ended March 31, 2026 (for the year ended
March 31, 2025: Rs. 17.64 lakh) under contributions to provident and other funds.

B) Leave plan and compensated absences

Leave plan and compensated absences The Company has a leave encashment scheme with defined benefits for

8. Sensitivity analysis :

Significant actuarial assumption for the determination of the defined benefit obligation are discount rate
and expected salary increase rate. Effect of change in mortality is negligible. Please note that the sentivity
analysis presented below may not be representive of the actual change in the defined benefit obligation as it
is unlikely that the change in assumption would occur in isolation of one another as some of the assumption
may be correlated. The result of the senstivity analysis are given below:

40(B) Fair value measurements

The following table provides the fair value measurements hierarchy of the Company’s financial assets and
liabilities:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair
value, grouped into Level 1 to Level 3, as described below.

(i) Financial instrument measured at amortised cost

The carrying amount of financial assets and financial labilities measured at amortised cost in the financial statements
are a reasonable approximation of their fair value since the Company does not anticipate that the carrying amounts
would be significantly different from the values that would eventually be received or settled.

40(C) Financial risk management- objectives and policies

The Company’s financial liabilities comprise mainly of borrowings, trade payable, lease liability and others payable. The
Company’s financial assets comprise mainly of investments, cash and cash equivalents, other bank balances, loans, trade
receivables and other receivables.

The company has exposure to the following risks arising from financial instruments:

- Credit risk

- Liquidity risk; and

- Market risk

a) Risk management framework

The Company board of directors has the overall responsibility for the management of these risks and is supported
by Senior Management that advises on the appropriate financial risk governance framework. The Company has the
risk management policies and systems in place and are reviewed regularly to reflect changes in market conditions
and the Company’s activities. The Company’s audit committee oversees how management monitors compliance
with the risk management policies and procedures, and reviews the adequacy of risk management framework in
relation to the risks faced by the Company. The framework seeks to identify, asses and mitigate financial risk in order
to minimize potential adverse effects on the Company’s financial performance.

b) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to
meet its contractual obligation, and arises from the operating activities primarily (trade receivables) and investing
activities including deposits with banks and other corporate deposits. The Company establishes an allowance for
impairment that represents its estimate of expected losses in respect of financial assets. A default of financial assets
is when there is a significant increase in the credit risk which is evaluated based on the business environment. The
assets are written off when the Company certain about the non- recovery.The Credit risk exposure is given in note no.
7, 12, 13,14,15 and 16.

(i) Trade and other receivables:

Customer credit risk is managed based on Company’s established policy, procedures and controls. The Company
assesses the credit quality of the counterparties, taking into account their financial position, past experience and
other factors.

Credit risk is reduced by receiving pre-payments. The Company has a well defined sales policy to minimize its risk
of credit defaults. Outstanding customer receivables are regularly monitored and assessed. Impairment analysis
is performed passed on historical data at each reporting date on an individual basis. However a large number of
minor receivables are grouped into homogeneous groups and assessed for impairment collectively.

(ii) Cash and cash equivalents, depositwith banks and other financial instruments

The credit risk for cash deposits with banks and cash and cash equivalents is considered negligible, since
the counterparties are reputable banks with high quality external credit ratings. Also, no impairment loss
has been recorded in respect of fixed deposits that are with recognized commercial banks and are not past
due. The carrying amounts disclosed above are the Company’s maximum possible credit risk exposure in
relation to these deposits.

Other financial assets being security deposits and others are also due from several counter parties and
based on historical information about defaults from the counter parties, management considers the quality
of such assets that are not past due to be good.

Impairment on cash and cash equivalents, deposits and other financial instruments has been measured on
the 12-month expected credit loss basis and reflects the short maturities of the exposures. The Company
considers that its cash and cash equivalents have low credit risk based on external credit ratings of
counterparties.

Based on the assessment there is no impairment in the above financial assets.

c) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time
or at a reasonable price. The Company’s treasury department is responsible for maintenance of liquidity,
continuity of funding as well as timely settlement of debts. In addition, policies related to mitigation of risks
are overseen by senior management. Management monitors the Company’s net liquidity position on the
basis of expected cash flows vis a vis debt service fulfillment obligation.

Maturity profile of financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the
reporting date based on contractual undiscounted payments.

d) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
fluctuation in market prices. These comprise three types of risk i.e. currency rate , interest rate and other price
related risks. Financial instruments affected by market risk include loans and borrowings, deposits, investments, and
derivative financial instruments. Foreign currency risk is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Interest rate risk is the risk that the fair value
or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Regular
interaction with bankers, intermediaries and the market participants help us to mitigate such risk.

i) Interest rate risk and sensitivity

The Company has borrowings with the related parties at a fixed rate of interest.Therefore there is no interest rate
risk.

e) Price risk

The Company is mainly exposed to the price risk due to its investments in equity investments. However, Company’s
equity investments are held for strategic purpose instead of trading purpose.

f) Foreign currency risk

The Company is not exposed to foreign currency risk as it has no foreign currency payable or receivables at the end
of the reporting period.

40(D) Capital management

The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence
and to sustain future development of the business. The primary objective of the Company’s capital management is to
maximize shareholder’s value. The Company manages its capital and makes adjustment to it in light of the changes in
economic and market conditions.

43 Lease liabilities

The Company has taken premises for office under cancellable operating lease agreements. Terms of the lease include
terms for renewal, increase in rents in future periods and terms of cancellation.

f) Nature, extension and termination options:

Extension and termination options are included in a number of property leases. These are used to maximise
operational flexibility in terms of managing the assets used in the Company’s operations. Management considers
contractual terms and conditions, leasehold improvements undertaken, costs relating to termination of lease and
importance of the underlying asset to the Company’s operations in determining the lease term for the purpose of
recognising/ measuring the lease liabilities. The Company has taken offices on lease for business purpose.

44 Share based payments

(a) Employee option plan : BLS International Limited (Parent Company)

BLS International Limited (the “Parent Company”) instituted the employee stock option plan to grant equity based
incentives to eligible employees of the Company and its subsidiaries. The Parent Company has a ESOP scheme,
namely, BLS International Employee stock option scheme- 2023 (“ESOP 2023”). With an objective to implement the
ESOP-2023, the Parent Company has formed the BLS International Employees Welfare Trust (the “ESOP Trust”) to
hold or possess Equity Shares and subsequently allot or transfer them to employees in accordance with the terms of
the ESOP Scheme, as applicable.

BLS International Employee stock option scheme- 2023- “ESOP 2023”

BLS International Employee stock option scheme- 2023- “ESOP 2023” was approved by the shareholders of the
Company in its Annual General Meeting held on September 21, 2023. The Company has granted 17,22,000 options
to eligible employees of the Company including employees of subsidiary company.

The fair value of the share options is estimated at the grant date using the Black- Scholes option pricing model,
taking into account the terms and conditions upon which the share options were granted. However, the above
performance condition is only considered in determining the number of instruments that will ultimately vest.
Options have been granted with vesting period that shall commence after minimum 1 year from the grant date and it
may extend upto maximum of 3 years (as mentioned in below table) on the basis of graded vesting. Exercise period
will start from date of vesting of options and shall end till one year from the date of last vesting of options granted on
particular date. There are no cash settlement alternatives.

(b) Employee option plan : BLS E-Services Limited

The Company has also instituted the employee stock option plan to grant equity based incentives to eligible employees
of the Company and its subsidiaries. The Company has a ESOP scheme, namely, BLS E-Services Limited Employee
stock option scheme- 2024 (“ESOP 2024”). With an objective to implement the ESOP-2024, the Company has formed
the BLS E-Services Employees Welfare Trust (the “ESOP Trust”) to hold or possess Equity Shares through primary
allotment or acquition through secondary market and subsequently transfer them to employees in accordance with
the terms of the ESOP Scheme, as applicable.

BLS E-Services Limited Employee stock option scheme- 2024 (“ESOP 2024”)

BLS E-Services Limited Employee stock option scheme- 2024 (“ESOP 2024”) was approved by the shareholders of
the Company on May 03, 2024 through postal ballot. During FY 2025-26, the Company has granted 42,000 options
to eligible employees of the Company including employees of subsidiary company.

The fair value of the share options is estimated at the grant date using the Black- Scholes option pricing model,
taking into account the terms and conditions upon which the share options were granted. However, the above
performance condition is only considered in determining the number of instruments that will ultimately vest.
Options have been granted with vesting period that shall commence after minimum 1 year from the grant date and it
may extend upto maximum of 5 years (as mentioned in below table) on the basis of graded vesting. Exercise period
will start from date of vesting of options and shall end till one year from the date of last vesting of options granted on
particular date. There are no cash settlement alternatives.

Additional regulatory information required by Schedule III

46 Title deeds of immovable property not held in the name of the Company

The Company do not have any immovable property (other than immovable properties where the Company is the lessee
and the lease agreements are duly executed in favour of the Company) which is not held in the name of Company.

47 Details of benami property held

The Company do not have any benami property, where any proceeding has been initiated or pending against the Company
for holding any benami property.

48 Revaluation of property, plant and equipment and intangible assets

There is no revaluation of property, plant and equipment and other intangible assets during the current year and proceeding
financial year.

49 Borrowings secured against current assets

The Company has not availed any facilities from banks on the basis of security of current assets.

50 Wilful defaulter

The Company is not declared wilful defaulter by any bank or any financial institution.

51 Relationship with struck off companies

The Company do not have any transactions with struck-off companies under section 248 of Companies Act,2013.

52 Registration of charges or satisfaction with registrar of companies (ROC)

The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(March31, 2025 is nil).

53 Fund received

The Company have not received any fund from any person or entity, 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

54 Fund advanced

The Company have not advanced or loaned or invested funds to any other person or entity, 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.

55 Undisclosed income

The Company does not have any transaction which is 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 (such as, search or survey or
any other relevant provisions of the Income Tax Act, 1961).

56 Details of any whistle blower complaints received

The Company have not received any whistle blower complaints during the financial year.

57 Segment information

Information about primary segment

The Company has engaged in the business of “Digital Services” includes e-governance, business correspondent and
allied services and has only reportable segment in accordance with IND AS-108 ‘Operating segment’. The information
relating to this operating segment is reviewed regularly by the key managerial personnel (‘KMP’) to make decisions about
resources to be allocated and to assess its performance.

Geographical information

The Company has engaged in the business of providing citizen services under an e-governance projects of various state
government, hence doing business within the India.

58 Corporate social responsibility

As per Section 135 of the Companies Act, 2013, a Company, meeting the applicability threshold, needs to spend at least
2% at its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR)
activities. The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture,
healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A
CSR committee has been formed by the Company as per the Act.

59 The equity shares of the Company got listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)
on February 06, 2024.

The Company has received an amount of Rs 30,929.29 lakhs being gross proceeds from fresh issue of equity shares. Net
proceeds after issues expenses amounting to Rs. 27,776.93 lakhs in relation to fresh issue are proposed to be utilized
and the utilization thereof are summarized as below:

61 The Company has used an accounting software for maintaining its books of account for the financial year ended March 31,
2026 which has a feature of recording audit trail (edit log) facility except audit trail on the database level and the same
has been operating for all relevant transactions recorded in the software throughtout the year. Additionally, the audit trail
has been preserved by the Company as per the statutory requirements for record retention from the date it has been
enforced.

62 On 21 November 2025, the Government of India notified the four new Labour Codes (the Code on Wages, 2019, the
Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working
Conditions Code, 2020) consolidating 29 existing labour laws. The Company has assessed and accounted for the
incremental impact of these changes amounting to Rs. 8.42 lakhs during the year ended 31 March 2026 which has
been disclosed within the employee benefit expenses in the financial statements with the best information available and
guidance provided by the Institute of Chartered Accountants of India. The Company continues to monitor the finalisation
of Central/ State Rules and clarifications from the Government on other aspects of the Labour Code and would provide
appropriate accounting effect as and when such clarifications are issued/ rules are notified.

63 No adjusting or significant non- adjusting events have occurred between the reporting date and date of authorization of
these financial statements.

i) Pursuant to a share purchase agreement, the Company acquired 57% stake in Aadifidelis Solutions Private Limited ("ASPL") on November 26, 2024 from its promotors for a consideration of Rs.12,287.40 lakhs out of which Rs.7,785.28 lakhs was paid upfront. Additional payments of Rs. 4,502.12 lakhs are contingent upon ASPL achieving specific EBITDA milestones in the fiscal years 2024-25 and 2025-26. The Company has included Rs. 494.94 lakhs as contingent consideration related to the additional consideration in Investment in subsidiaries, which represents its fair value at the date of acquisition. ASPL enhances Company''s offerings by strengthening its customer acquisition and loyalty management capabilities, enabling deeper penetration into the digital and financial services ecosystem.

b.) Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share and ranking pari passu with each other. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion of the number of equity shares held by the shareholders. The dividend proposed, if any, by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend.

e.) The Company has issued and alloted following equity shares during previous financial year ended March 31, 2024:

i. The Company has undertaken a pre-lPO placement by way of private placement of 11,00,000 equity shares aggregating to Rs. 1,375 lakhs at an issue price of Rs. 125 per equity share.

ii. The equity shares of the Company got listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") on February 06, 2024. The Company had received an amount of Rs 309,29.29/- lakhs being gross proceeds from fresh issue of equity shares.

Description of nature and purpose of each reserve Retained Earnings

Retained earnings are the profits that the Company has earned till date less dividends or other distributions paid to shareholders. Retained earnings is a free reserve available to the Company.

Securities premium reserve

Securities premium reserve represents premium received on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act.

Re-measurement of defined benefit plans

This represents the actuarial gains/losses recognised in other comprehensive income.

37.(B) Fair value measurements

The following table provides the fair value measurements hierarchy of the Company''s financial assets and liabilities:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

(i) Financial instrument measured at amortised cost

The carrying amount of financial assets and financials labilities measured at amortised cost in the financials statements are a reasonable approximation of their fair value since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

37. (C) Financial risk management- objectivies and policies

The Company''s financial liabilities comprise mainly of borrowings, trade payable, lease liability and others payable. The Company''s financial assets comprise mainly of investments, cash and cash equivalents, other bank balances, loans, trade receivables and other receivables.

The Company has exposure to the following risks arising from financial instruments:

- Credit risk

- Liquidity risk; and

- Market risk

a) Risk management framework

The Company board of directors has the overall responsibility for the management of these risks and is supported by Senior Management that advises on the appropriate financial risk governance framework. The Company has the risk management policies and systems in place and are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company''s audit committee oversees how management monitors compliance with the risk management policies and procedures, and reviews the adequacy of risk management framework in relation to the risks faced by the Company. The framework seeks to identify, asses and mitigate financial risk in order to minimise potential adverse effects on the Company''s financial performance.

b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligation, and arises from the operating activities primarily (trade receivables) and investing activities including deposits with banks and other corporate deposits. The Company establishes an allowance for impairment that represents its estimate of expected losses in respect of financial assets. A default of financial assets is when there is a significant increase in the credit risk which is evaluated based on the business environment. The assets are written off when the Company certain about the non- recovery.The Credit risk exposure is given in note no. 10, 11, 12,13 and 14.

The Company provides for expected credit loss based on lifetime expected credit loss mechanism for cash & cash equivalent, trade financial assets, and investments-

(i) Trade & other receivables:

Customer credit risk is managed based on Company''s established policy, procedures and controls. The Company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors.

Credit risk is reduced by receiving pre-payments. The Company has a well defined sales policy to minimize its risk of credit defaults. Outstanding customer receivables are regularly monitored and assessed. Impairement analysis is performed pased on historical data at each reporting date on an individual basis. However a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

(ii) Financial instruments and cash deposits :

The credit risk for cash deposits with banks and cash and cash equivalents is considered negligible, since the counterparties are reputable banks with high quality external credit ratings. Also, no impairment loss has been recorded in respect of fixed deposits that are with recognized commercial banks and are not past due. The carrying amounts disclosed above are the Company''s maximum possible credit risk exposure in relation to these deposits.

Other financial assets being security deposits and others are also due from several counter parties and based on historical information about defaults from the counter parties, management considers the quality of such assets that are not past due to be good.

Impairment on cash and cash equivalents, deposits and other financial instruments has been measured on the 12-month expected credit loss basis and reflects the short maturities of the exposures. The Company considers that its cash and cash equivalents have low credit risk based on external credit ratings of counterparties.

Based on the assessment there is no impairment in the above financial assets.

c) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company''s treasury department is responsible for maintenance of liquidity, continuity of funding as well as timely settlement of debts. In addition, policies related to mitigation of risks are overseen by senior management. Management monitors the Company''s net liquidity position on the basis of expected cash flows vis a vis debt service fulfilment obligation.

d) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of fluctuation in market prices. These comprise three types of risk i.e. currency rate , interest rate and other price related risks. Financial instruments affected by market risk include loans and borrowings, deposits, investments, and derivative financial instruments. Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Regular interaction with bankers, intermediaries and the market participants help us to mitigate such risk.

i) Interest rate risk and sensitivity

The Company has borrowings with the related parties at a fixed rate of interest.Therefore there is no interest rate risk.

37. (D) Capital management

The Company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The primary objective of the Company''s capital management is to maximise shareholder''s value. The Company manages its capital and makes adjustment to it in light of the changes in economic and market conditions.

f. Extension and termination options:

Extension and termination options are included in a number of property leases. These are used to maximise operational flexibility in terms of managing the assets used in the Company''s operations. Management considers contractual terms and conditions, leasehold improvements undertaken, costs relating to termination of lease and importance of the underlying asset to the Company''s operations in determining the lease term for the purpose of recognising/ measuring the lease liabilities.

40. Share based payments

(a) Employee option plan : BLS International Limited (Parent Company)

BLS International Limited (the "Parent Company") instituted the employee stock option plan to grant equity based incentives to eligible employees of the Company and its subsidiaries. The Parent Company has a ESOP scheme, namely, BLS International Employee stock option scheme- 2023 ("ESOP 2023"). With an objective to implement the ESOP-2023, the Parent Company has formed the BLS International Employees Welfare Trust (the "ESOP Trust") to hold or possess Equity Shares and subsequently allot or transfer them to employees in accordance with the terms of the ESOP Scheme, as applicable.

BLS International Employee stock option scheme- 2023- "ESOP 2023"

BLS International Employee stock option scheme- 2023- "ESOP 2023" was approved by the shareholders of the Company in its Annual General Meeting held on September 21, 2023. The Company has granted 17,22,000 options to eligible employees of the Company including employees of subsidiary company.

The fair value of the share options is estimated at the grant date using the Black- Scholes option pricing model, taking into account the terms and conditions upon which the share options were granted. However, the above performance condition is only considered in determining the number of instruments that will ultimately vest. Options have been granted with vesting period that shall commence after minimum 1 year from the grant date and it may extend upto maximum of 3 years (as mentioned in below table) on the basis of graded vesting. Exercise period will start from date of vesting of options and shall end till one year from the date of last vesting of options granted on particular date. There are no cash settlement alternatives.

(b) Employee option plan : BLS E-Services Limited

The Company has also instituted the employee stock option plan to grant equity based incentives to eligible employees of the Company and its subsidiaries. The Company has a ESOP scheme, namely, BLS E-Services Limited Employee stock option scheme- 2024 ("ESOP 2024"). With an objective to implement the ESOP-2024, the Company has formed the BLS E-Services Employees Welfare Trust (the "ESOP Trust") to hold or possess Equity Shares through primary allotment or acquition through secondary market and subsequently transfer them to employees in accordance with the terms of the ESOP Scheme, as applicable.

BLS E-Services Limited Employee stock option scheme- 2024 ("ESOP 2024")

BLS E-Services Limited Employee stock option scheme- 2024 ("ESOP 2024") was approved by the shareholders of the Company on May 03, 2024 through postal ballot. During FY 2024-25, the Company has granted 6,26,000 options to eligible employees of the Company including employees of subsidiary company.

The fair value of the share options is estimated at the grant date using the Black- Scholes option pricing model, taking into account the terms and conditions upon which the share options were granted. However, the above performance condition is only considered in determining the number of instruments that will ultimately vest. Options have been granted with vesting period that shall commence after minimum 1 year from the grant date and it may extend upto maximum of 5 years (as mentioned in below table) on the basis of graded vesting. Exercise period will start from date of vesting of options and shall end till one year from the date of last vesting of options granted on particular date. There are no cash settlement alternatives.

42. Title deeds of immovable property not held in the name of the Company

The Company do not have any Immovable property (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) which is not held in the name of Company.

43. Details of benami property held

The Company do not have any benami property, where any proceeding has been initiated or pending against the Company for holding any benami property.

44. Revaluation of property, plant and equipment and intangible assets

There is no revaluation of property, plant and equipment and other intangible assets during the current year and proceeding financial year.

45. Borrowings secured against current assets

The Company has not availed any facilities from banks on the basis of security of current assets.

46. Wilful defaulter

The Company is not declared wilful defaulter by any bank or any financial instituition.

47. Relationship with struck off companies

The Company do not have any transactions with struck-off companies under section 248 of Companies Act,2013.

48. Registration of charges or satisfaction with registrar of companies (ROC)

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

49. Fund received

The Company have not received any fund from any person or entity, 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

50. Fund advanced

The Company have not advanced or loaned or invested funds to any other person or entity, 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.

51. Undisclosed income

The Company does not have any transaction which is 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 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

52. Details of any whistle blower complaints received

The Company have not received any whistle blower complaints during the financial year.

53. Details of loans given and repayable on demand or without specifying any term or period of repayment

The Company has not given loan which is repayable on demand in current and proceeding financial year.

54. Segment information

Information about primary segment

The Company has engaged in the business of "Digital Services" includes e-governance, business correspondent and allied services and has only reportable segment in accordance with IND AS-108 ''Operating segment''. The information relating to this operating segment is reviewed regularly by the key managerial personnel (''KMP'') to make decisions about resources to be allocated and to assess its performance.

Geographical information

The Company has engaged in the business of providing citizen services under an e-governance projects of various state government, hence doing business within the India.

Major customers

The customers that individually contribute for more than the 10% of the revenues are as follows:

Revenue of Rs. 3432.74 lakhs (March 31, 2024 Rs. 1862.49 lakhs) are derived from two major customers.

55. Corporate social responsibilty

As per Section 135 of the Companies Act, 2013, a Company, meeting the applicability threshold, needs to spend at least 2% at its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A CSR committee has been formed by the Company as per the Act.

57. The Company has used an accounting software for maintaining its books of account for the financial year ended March 31, 2025 which has a feature of recording audit trail (edit log) facility except audit trail on the database level and the same has been operating for all relevant transactions recorded in the software throughtout the year. Additionally, the audit trail has been preserved by the Company as per the statutory requirements for record retention.

58. No adjusting or significant non- adjusting events have occurred between the reporting date and date of authorization of these financial statements.

59. Dividends declared by the Company are based on the profit available for distribution. On May 14, 2025, the Board of Directors of the Company have proposed a final dividend of 1.00 per equity share in respect of the year ended March 31,2025 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in cash outflow of approximately Rs. 908.56 lakh.

b) Rights, preferences and restrictions attached to shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share and ranlking pari passu with each other. In the event of liquidation of the company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion of the number of equity shares held by the shareholders. The dividend proposed, if any, by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend.

e) The company has issued and alloted following equity shares during current financial year ended March 31, 2024:

i. The Company has undertaken a pre-lPO placement by way of private placement of 11,00,000 equity shares aggregating to Rs. 1,375 lakhs at an issue price of Rs. 125 per equity share.

ii. The equity shares of the Company got listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") on February 06, 2024. The Company has received an amount of Rs 3,09,29.29/- lakhs being Gross proceeds from fresh issue of 2,30,30,000 equity shares.

f) The company has issued and alloted following equity shares during previous financial year ended March 31, 2023:

i. Allotment of 60,00,000 Bonus Equity Shares of the face value of Rs. 10/- each fully paid up, in the ratio of 600:1 on October 01, 2022 to the existing shareholders whose names appear in the register of member / Beneficial owner''s position of the company on October 01, 2022 ("Record Date") ranking pari passu with existing shares.

ii. Allotment of 25,00,000 Equity Shares of face value of Rs. 10/- each on October 04, 2022 to Holding Company, for Rs. 100/- each equity share on the basis of the Right Issue to existing equity shareholders, including premium of Rs. 90/- per shares for an aggregate amount of Rs. 2,500 Lacs/-, ranking pari passu with existing shares.

iii. Allotment of 7,41,297 Equity Shares of face value of Rs. 10/- each, on the right basis on October 31, 2022, to BLS International Services Limited as Share Swap Consideration against the Transfer of 500,000 Equity Shares held by BLS International Services Limited in BLS Kendras Private Limited to BLS E-Services Limited, ranking pari passu with existing shares.

iv. Allotment of 20,94,000 Equity Shares of face value of Rs. 10/- each, on December 21, 2022, on Preferential & Private Placement basis to various shareholders, for Rs. 123/- each including premium of Rs. 113/- per shares for an aggregate amount of Rs. 2,575.62 Lacs/-, ranking pari passu with existing shares

v. Allotment of 20,00,000 Equity Shares as Sweat Equity Shares of face value of Rs. 10/- each on December 21, 2022. 10,00,000 sweat equity shares to Mr. Diwakar Aggarwal and 10,00,000 sweat equity shares Mr. Shikhar Aggarwal, Directors of the Holding Company. Further, in the terms revised form of consideration from "consideration other than cash" to a "cash consideration" as duly approved by the Shareholders in their extra-ordinary general meeting held on March 27, 2023; it was considered as issued for Rs. 110/- each including a premium of Rs. 100 for an aggregate amount of Rs. 2,200 Lacs/-, ranking pari passu with existing shares.

vi. Allotment of 5,33,81,188 Bonus Equity Shares of face value of Rs. 10/- each fully paid up, in the ratio of 4:1 on December 30, 2022, to the existing shareholders whose names appear in the register of member / Beneficial owner''s position of the company on 29^th December, 2022 ("Record Date") , ranking pari passu with existing shares.

Description of nature and purpose of each reserve Retained Earnings

Retained earnings are the profits that the Company has earned till date less dividends or other distributions paid to shareholders. Retained earnings is a free reserve available to the Company.

Securities premium reserve

Securities premium reserve represents premium received on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act.

Re-measurement of defined benefit plans

This represents the actuarial gains/losses recognised in other comprehensive income.

34 Leases

The Company has taken premises for office under cancellable operating lease agreements. Terms of the lease include terms for renewal, increase in rents in future periods and terms of cancellation.

Lease and rent payments recognised in statement of profit an loss amounting Rs. 1.64/- Lakh (Previous year Rs.1.62/- Lakhs)

Sensitivity Analysis :

Significant actuarial assumption for the determination of the defined benefit obligation are discount rate and expected salary increase rate. Effect of change in mortality is negligible. Please note that the sentivity analysis presented below may not be representive of the actual change in the defined benefit obligation as it is unlikely that the change in assumption would occur in isolation of one another as some of the assumption may be correlated. The result of the senstivity analysis are given below:

38 (B) FAIR VALUE MEASUREMENTS

(i) Financial instrument measured at Amortised Cost

The carrying amount of financial assets and financials labilities measured at amortised cost in the financials statements are a reasonable approximation of their fair value since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

38 (C) FINANCIAL RISK MANAGEMENT- OBJECTIVIES AND POLICIES

The Company''s financial liabilities comprise mainly of borrowings, trade payable, lease liability and others payable. The company''s financial assets comprise mainly of investments, cash and cash equivalents, other bank balances, loans, trade receivables and other receivables.

The company has exposure to the following risks arising from financial instruments:

- Credit risk

- Liquidity risk; and

- Market risk

a) Risk management framework

The Company board of directors has the overall responsibility for the management of these risks and is supported by Senior Management that advises on the appropriate financial risk governance framework. The Company has the risk management policies and systems in place and are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company''s audit committee oversees how management monitors compliance with the risk management policies and procedures, and reviews the adequacy of risk management framework in relation to the risks faced by the Company. The framework seeks to identify, asses and mitigate financial risk in order to minimise potential adverse effects on the company''s financial performance.

b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligation, and arises from the operating activities primarily (trade receivables) and investing activities including deposits with banks and other corporate deposits. The company establishes an allowance for impairment that represents its estimate of expected losses in respect of financial assets. A default of financial assets is when there is a signiant increase in the credit risk which is evaluated based on the business environment. The assets are written off when the company certain about the non- recovery. The Credit risk exposure is given in note no. 9, 10, 11, 12 and13.

The Company provides for expected credit loss based on lifetime expected credit loss mechanism for Cash & cash equivalent, Trade financial assets, and Investments-

(i) Trade & other receivables:

Customer credit risk is managed based on company''s established policy, procedures and controls. The company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors.

Credit risk is reduced by receiving pre-payments. The company has a well defined sales policy to minimize its risk of credit defaults. Outstading customer receivables are regularly monitored and assessed. Impairement analysis is performed pased on historical data at each reporting date on an individual basis. However a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively.

(ii) Financial instruments and cash deposits :

The credit risk for cash deposits with banks and cash and cash equivalents is considered negligible, since the counterparties are reputable banks with high quality external credit ratings. Also, no impairment loss has been recorded in respect of fixed deposits that are with recognized commercial banks and are not past due. The carrying amounts disclosed above are the Company''s maximum possible credit risk exposure in relation to these deposits.

Other financial assets being security deposits and others are also due from several counter parties and based on historical information about defaults from the counter parties, management considers the quality of such assets that are not past due to be good.

Impairment on cash and cash equivalents, deposits and other financial instruments has been measured on the 12-month expected credit loss basis and reflects the short maturities of the exposures. The Company considers that its cash and cash equivalents have low credit risk based on external credit ratings of counterparties.

Based on the assessment there is no impairment in the above financial assets.

c) Liquidity Risk

Liquidity risk is defined as the risk that the company will not be able to settle or meet its obligations on time or at a reasonable price. The Company''s treasury department is responsible for maintenance of liquidity, continuity of funding as well as timely settlement of debts. In addition, policies related to mitigation of risks are overseen by senior management. Management monitors the Company''s net liquidity position on the basis of expected cash flows vis a vis debt service fulfilment obligation.

Maturity profile of financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on contractual undiscounted payments.

d) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of fluctuation in market prices. These comprise three types of risk i.e. currency rate , interest rate and other price related risks. Financial instruments affected by market risk include loans and borrowings, deposits, investments, and derivative financial instruments. Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Regular interaction with bankers, intermediaries and the market participants help us to mitigate such risk.

i) Interest Rate Risk and Sensitivity

The company has borrowings with the related parties at a fixed rate of interest.Therefore there is no interest rate risk.

ii) Price related risks

The primary goal of the company investment is to maintain liquidity along with meeting company''s strategic purposes. Depending upon the investment strategy at inception, management classifies certain investments as FVTPL. The following table details the group sensitivity to a 1% increase and decrease in the price of instruments.

38 (D) Capital Management

The Company''s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The primary objective of the Company''s Capital management is to maximise shareholder''s value. The Company manages its capital and makes adjustment to it in light of the changes in economic and market conditions.

42 Title deeds of Immovable Property not held in the name of the Company

The Company do not have any Immovable property (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) which is not held in the name of Company.

43 Details of Benami Property held

The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

44 Revaluation of Property, Plant and Equipment and Intangible Assets

There is no revaluation of property, plant and equipment and other intangible assets during the current year and proceeding financial year.

45 Borrowings secured against current assets

The Company has not availed any facilities from banks on the basis of security of current assets.

46 Wilful Defaulter

The Company is not declared Wilful Defaulter by any Bank or any Financial Instituition.

47 Relationship with Struck off Companies

The Company do not have any transactions with struck-off companies under section 248 of Companies Act,2013.

48 Registration of charges or satisfaction with Registrar of Companies (ROC)

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

49 Fund Received

The Company have not received any fund from any person or entity, 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

50 Fund advanced

The Company have not advanced or loaned or invested funds to any other person or entity, 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.

51 Undisclosed income

The Company does not have any transaction which is 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 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

52 Details of any whistle blower complaints received

The Company have not received any whistle blower complaints during the financial year.

53 Details of Loans given and repayable on demand or without specifying any term or period of repayment

The company has not given loan which is repayable on demand in current and proceeding financial year.

54 Segment information Information about primary segment

The company has engaged in the business of "Digital Services" includes E-Governance, Business Correspondent and allied services and has only reportable segment in accordance with IND AS-108 ''Operating Segment''. The information relating to this operating segment is reviewed regularly by the Key managerial personnel (''KMP'') to make decisions about resources to be allocated and to assess its performance. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in the segment, and are as set out in the significant accounting policies.

Geographical Information

The company has engaged in the business of providing citizen services under an e-governance projects of various state Govt. Hence doing business within the India.

Major Customers

The customers that individually contribute for more than the 10% of the revenues are as follows:

Revenue of Rs. 1,862.49 lakhs (March 31, 2023 Rs. 400 Lakhs) are derived from one major customer .

55 Provisions of section 135 of the Companies Act, 2013 relating to Corporate Social Responsibilities are not applicable to the company. Since it is not meeting the threshold limit.

57 In the opinion of the management of the Company and to the best of their knowledge & belief, the value of current assets, loans and advances, if realized in the ordinary course of business would not be less than the amount at which they are stated in the balance sheet.

58 The contract between wholly owned subsidiary (WOS), BLS Kendras Private Limited and the Punjab e- Governance Society (PSeGS), executed on July 27, 2018, has reached the end of its contract period from November 27, 2023. This contract was the only major source of revenue for the (WOS). However, the management is making efforts to secure further contracts/business in this (WOS).

59 The Company has used an accounting software for maintaining its books of account for the financial year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has been operating for all relevant transactions recorded in the software from May 06, 2023. Although, the accounting software has inherent limitation, there were no instances of the audit trail feature been tempered.

60 No adjusting or significant non- adjusting events have occurred between the reporting date and date of authorization of these financial statements.

61 Previous year figures have been regrouped/ rearranged, wherever considered necessary to conform to current year''s classification.