Notes to Accounts of Ecos (India) Mobility & Hospitality Ltd.

2.14 Provisions and contingent liabilities

1. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that 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 the obligation. The expense
relating to a provision is presented in the statement of profit and loss net of any reimbursement. If the
effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.

2. Contingent liabilities

Contingent liability is a possible obligation that arises from past events and the existence of which will be
confirmed only by the occurrence or non-occurrence of one are more uncertain future events not wholly
within the control of the Company, or is a present obligation that arises from past event but is not
recognised because either it is not probable that an outflow of resources embodying economic benefits
will be required to settle the obligation, or a reliable estimate of the amount of the obligation cannot be
made. The Company does not recognize a contingent liability but discloses its existence in the standalone
financial statements unless the probability of outflow of resources is remote.

3. Contingent assets

Contingent assets are not recognized. However, when the realization of income is virtually certain, then
the related asset is no longer a contingent asset, but it is recognized as an asset.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet
date.

2.15 Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability
or equity instrument of another entity. Transaction costs directly attributable to the acquisition of
financial assets or financial liabilities at fair value through statement of profit and loss are recognised
immediately in statement of profit and loss.

1. Financial assets

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at
fair value through statement of profit and loss, transaction costs that are attributable to the acquisition
of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time
frame established by regulation or convention in the market-place (regular way trades) are recognised on
the trade date, i.e., the date that the Company commits to purchase or sell the asset.

a. Classification and subsequent measurement:

Debt instruments that meet the following conditions are subsequently measured at amortised cost less
impairment loss (except for debt investments that are designated as at fair value through profit or loss on
initial recognition) (i) the asset is held within a business model whose objective is to hold assets in order
to collect contractual cash flows; and (ii) the contractual terms of the instrument give rise on specified
dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Debt instruments that meet the following conditions are subsequently measured at fair value through
other comprehensive income (except for debt investments that are designated as at fair value through
profit or loss on initial recognition) (i) the asset is held within a business model whose objective is achieved
both by collecting contractual cash flows and selling financial assets; and (ii) the contractual terms of the
instrument give rise on specified dates to cash flows that are solely payments of principal and interest on
the principal amount outstanding.

FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria
for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL. Trade receivables, cash and
cash equivalents, other bank balances, loans and other financial assets are classified for measurement at
amortised cost.

Financial assets at amortised cost are subsequently measured at amortised cost using effective interest
method. The effective interest method is a method of calculating the amortised cost of an instrument and
of allocating interest income over the relevant period. The effective interest rate is the rate that exactly
discounts estimated future cash receipts (including all fees paid or received that form an integral part of
the effective interest rate, transaction costs and other premiums or discounts) through the expected life
of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial
recognition.

b. Equity instruments:

The Company subsequently measures all equity investments in scope of Ind AS 109 at fair value, with net
changes in fair value recognised in the statement of profit and loss.

c. Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial
assets) is primarily derecognised (i.e. removed from the Company''s standalone financial statements of
assets and liabilities) when: i) The rights to receive cash flows from the asset have expired, or ii) The
Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to
pay the received cash flows in full without material delay to a third party under a ''pass-through''
arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the

asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of
the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a
pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of
ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the
asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to
the extent of the Company''s continuing involvement. In that case, the Company also recognises an
associated liability. The transferred asset and the associated liability are measured on a basis that reflects
the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the
lower of the original carrying amount of the asset and the maximum amount of consideration that the
Company could be required to repay.

d. Impairment of financial assets

The Company recognises loss allowances using the Expected Credit Loss (ECL) model for the financial
assets which are not fair valued through profit and loss. Loss allowance for trade receivables with no
significant financing component is measured at an amount equal to lifetime ECL. For all other financial
assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has
been a significant increase in credit risk from initial recognition, in which case those financial assets are
measured at lifetime ECL. The changes (incremental or reversal) in loss allowance computed using ECL
model, are recognised as an impairment gain or loss in the statement of profit and loss.

The Company recognises loss allowances for expected credit losses on financial assets measured at
amortised cost.

At each reporting date, the Company assesses whether financial assets carried at amortised cost are credit
impaired. A financial asset is ''credit impaired'' when one or more events that have a detrimental impact
on the estimated future cash flows of the financial asset have occurred.

Evidence that a financial asset is credit impaired includes the following observable data:

¦ significant financial difficulty of the borrower or issuer;

¦ a breach of contract such as a default or past dues;

¦ the restructuring of a loan or advance by the Company on terms that the Company would not
consider otherwise; - it is probable that the borrower will enter bankruptcy or other financial
reorganisation; or

¦ the disappearance of an active market for a security because of financial difficulties.

The Company follows ''simplified approach'' for recognition of impairment loss allowance on trade
receivables which do not contain a significant financing component. The application of simplified
approach does not require the Company to track changes in credit risk. Rather, it recognises impairment
loss allowance based on lifetime impairment pattern at each balance sheet date, right from its initial
recognition.

In all cases, the maximum period considered when estimating expected credit losses is the maximum

contractual period over which the Company is exposed to credit risk.

When determining whether the credit risk of a financial asset has increased significantly since initial
recognition and when estimating expected credit losses, the Company considers reasonable and
supportable information that is relevant and available without undue cost or effort. This includes both
quantitative and qualitative information and analysis, based on the Company''s historical experience and
informed credit assessment and including forward looking information.

The Company considers a financial asset to be in default when:

¦ the borrower is unlikely to pay its credit obligations to the Company in full, without recourse by
the Company to actions such as realising security (if any is held); or

¦ the financial asset is more than past due.

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that
there is no realistic prospect of recovery. This is generally the case when the Company determines that
the counterparty does not have assets or sources of income that could generate sufficient cash flows to
repay the amounts subject to write-off. However, financial assets that are written off could still be subject
to enforcement activities in order to comply with the Company''s procedures for recovery of amounts due.

2. Financial liabilities

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit and
loss, loans and borrowings, payables, as appropriate.

a. Initial recognition and measurement

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs. The Company''s financial liabilities include
Borrowings, Other Financial Liabilities, Trade Payables and Leases.

b. Subsequent measurement

All financial liabilities are subsequently measured at amortized cost using the effective interest method
or at FVTPL. For financial liabilities that are denominated in a foreign currency and are measured at
amortized cost at the end of each reporting period, the foreign exchange gains and losses are determined
based on the amortized cost of the instruments and are recognized in ''Other income''. The fair value of
financial liabilities denominated in a foreign currency is determined in that foreign currency and translated
at the spot rate at the end of the reporting period. For financial liabilities that are measured as at FVTPL,
the foreign exchange component forms part of the fair value gains or losses and is recognized in profit or
loss.

c. Derecognition

The Company derecognizes financial liabilities when, and only when, the Company''s obligations are
discharged, cancelled or have expired. The difference between the carrying amount of the financial
liability derecognized and the consideration paid and payable is recognized in statement of profit and loss.

3. Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the statement of assets
and liabilities if there is a currently enforceable legal right to offset the recognised amounts and there is
an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

2.16 Impairment of non-financial assets

The carrying amounts of assets are reviewed at each balance sheet date. If there is any indication of
impairment based on internal / external factors, an impairment loss is recognised, i.e. wherever the
carrying amount of an asset exceeds its recoverable amount.

For impairment testing, assets that do not generate independent cash inflows are compared together into
cash-generating units (CGUs). Each CGU represents the smallest Company of assets that generates cash
inflows that are largely independent of the cash inflows of other assets or CGUs.

The recoverable amount of a CGU (or an individual asset) is the higher of its value in use and its fair value
less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present
value using a pre-tax discount rate that reflects current market assessments of the time value of money
and the risks specific to the CGU (or the asset).

The Company''s corporate assets (e.g., office building for providing support to various CGUs) do not
generate independent cash inflows. To determine impairment of a corporate asset, recoverable amount
is determined for the CGUs to which the corporate asset belongs.

An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its estimated
recoverable amount. Impairment losses are recognised in the statement of profit and loss. Impairment
loss recognised in respect of a CGU is allocated first to reduce the carrying amount of any goodwill
allocated to the CGU, and then to reduce the carrying amounts of the other assets of the CGU (or group
of CGUs) on a pro rata basis.

An impairment loss in respect of assets for which has been recognised in prior periods, the Company
reviews at each reporting date whether there is any indication that the loss has decreased or no longer
exists. An impairment loss is reversed if there has been a change in the estimates used to determine the
recoverable amount. Such a reversal is made only to the extent that the asset''s carrying amount does not
exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no
impairment loss had been recognised.

2.17 Borrowing costs

Borrowing costs are expensed in the period in which they occur. Borrowing cost consist of interest and
other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes
exchange differences to the extent regarded as an adjustment to the borrowing costs.

2.18 Cash and cash equivalents

Cash and cash equivalent in the statement of assets and liabilities comprise cash at banks and on hand
and short-term deposits with an original maturity of three months or less, which are subject to an
insignificant risk of changes in value. For the purpose of the statement of cash flows, cash and cash

equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts
(if any) as they are considered an integral part of the Company''s cash management.

2.19 Recent accounting pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as issued from time to time.

Amendments to Ind AS 21 - Lack of exchangeability

On May 09, 2025, Ministry of Corporate Affairs (MCA) notifies the amendments to Ind AS 21 - Effects of
Changes in Foreign Exchange Rates. These amendments aim to provide clearer guidance on assessing
currency exchangeability and estimating exchange rates when currencies are not readily exchangeable.
The amendments are effective for annual periods beginning on or after April 01, 2025. The Company has
reviewed the amendment and based on its evaluation has determined that it does not have any impact in
its financial statements.

Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Noncurrent
Liabilities with Covenants

In August 2025, the MCA notified amendments to paragraphs 69 to 76 of Ind AS 1 to specify the
requirements for classifying liabilities as current or noncurrent. The amendments clarify: a) What is meant
by a right to defer settlement

b) That a right to defer must exist at the end of the reporting period

c) That classification is unaffected by the likelihood that an entity will exercise its deferral right

d) That only if an embedded derivative in a convertible liability is itself an equity instrument would the
terms of a liability not impact its classification

In addition, a requirement has been introduced to require disclosure when a liability arising from a loan
agreement is classified as non-current and the entity''s right to defer settlement is contingent on
compliance with future covenants within twelve months. If there is a breach of a material covenant of a
long-term loan arrangement on or before the end of the reporting period, resulting in the liability
becoming payable on demand as at the reporting date, and the lender agrees—after the reporting period
but before the financial statements are approved for issue—not to demand repayment for at least 12
months as a consequence of the breach, this shall be treated as an adjusting event. Accordingly, the entity
is not required to classify the liability as current. The amendments are effective for annual reporting
periods beginning on or after 1 April 2025 retrospectively in accordance with Ind AS 8. The amendments
do not have material impact on the Company''s financial statements.

Ind AS 7, Statement of Cash Flows and Ind AS 107, Financial Instruments

Disclosures, applicable w.e.f. April 01, 2025 - The amendment in Ind AS 7 requires to inform users of
financial statements of the existence of supplier finance arrangements and explain the nature of the
arrangements, the carrying amount of liabilities and the range of payment due dates. Ind AS 107 has been
amended to add supplier finance arrangements as a factor that may cause concentration of liquidity risk.
The Company has reviewed the amendment and based on its evaluation has determined that it does not
have any significant impact in its financial statements.

Ind AS 12, International Tax Reform - Pillar Two Model Rules applicable immediately

The amendments provide a temporary mandatory relief from deferred tax accounting for top-up tax and
disclose that they have applied the relief. This relief is immediate and applies retrospectively. The
company has reviewed the amendment and based on its evaluation has determined that it does not have
any impact on its financial statements.

2.20 Standards issued but not yet effective

The new and amended standards that are notified by the Ministry of Corporate Affairs (MCA), but not yet
effective, up to the date of issuance of the Company''s standalone financial statements are disclosed
below. The Company will adopt these amendments to the standards, when they become effective.

Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Noncurrent
Liabilities with Covenants

In accordance with Ind AS 1 currently applicable, breach of an immaterial covenant is ignored deciding in
current vs. non-current classification of liabilities. Also, in case of breach of a material covenant of a
noncurrent loan on or before the reporting date, the entity can obtain waiver from the lender after the
reporting date and continue to classify the loan as non-current liability. In accordance with changes to Ind
AS 1 already notified by the MCA, the above relaxations to classify loan as non-current liability will not be
available from FY 2026- 27 onward and need to be applied retrospectively. Consequently:

i) A breach of either material or immaterial covenant will trigger current classification of liability.

ii) To continue classifying loan as non-current liability, entities will need to obtain waiver from the
breach on or before the reporting date.

The Company is currently assessing the impact the amendments will have on its standalone financial
statements.

Amounts recognised in the statement of profit and loss for

(i) investment properties

Company has recognised profit of Nil (March 31, 2025: Nil) in the statement of profit and loss on account of
sale of investment properties.

(ii) Contractual obligations

The Company has no restrictions on the realisability of its investment property. There are no contractual
obligations to purchase, construct or develop investment property as at the year end.

Estimation of fair value

The best evidence of fair value is current prices in an active market for similar properties.
Company''s investment property (i.e. building) are at a location where active market is available
for similar kind of properties. Hence, fair value is ascertained on the basis of market rates
prevailing for similar properties in those locations determined by an independent registered
valuer, as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017,
and consequently classified as level 2 valuation.

Notes:

Intangible under development at the year end consist of new software for operations and for
accounting purpose.

During the year, due to a change in scope of work the timelines for capitalization of software
development project has been extended by over 12 months. The project remains under
development and will be capitalized upon meeting the applicable recognition criteria.
There was no other project whose completion was overdue or has exceeded its cost compared to
its original plan during the previous year ended March 31, 2025.

The projected year for the capitalization of the intangible asset under development is March 31,
2027.

(d) each class of shares

The Company has one class of equity shares having par value of Rs. 2 per share (March 31, 2025: Rs. 2 per
share). Each holder of equity shares is entitled to one vote per share. The dividend, if any, recommended by
the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive
remaining assets of the Company after distribution of all preferential amounts.The Distribution will be in
proportion to the number of equity shares held by the shareholders.

The Company for five years immediately

(g) preceding the reporting date has not:

(i) Allotted any class of shares as fully paid pursuant to contract(s) without payment being received in cash.

(ii) Allotted fully paid up shares by way of bonus shares except for 11,94,000 equity shares of Rs. 100 each in
bonus issue during the financial year 2023-24.

(iii) Brought back any class of shares.

(h) As per the records of the Company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above shareholding represents both legal and
beneficial ownership of shares.

(i) Retained earnings

Retained earnings are profits that the Company has earned till date less transfer to other reserve, dividend
or other distribution or transaction with shareholders.

(ii) General reserve

Under the erstwhile Companies Act, 1956, a general reserve was created through an annual transfer of net
profit at a specified percentage in accordance with applicable regulations. Consequent to the introduction
of the Companies Act, 2013, the requirement to mandatorily transfer a specified percentage of net profit
to general reserve has been withdrawn.

(iii) Other comprehensive income

Other items of other comprehensive income in consist of re-measurement of net defined benefit
obligation.

Note:

* Recoverable from selling shareholders Rs. Nil (March 31, 2025 Rs.84.89 lakh) in relation to listing expenses.
Terms & Conditions

(i) Transactions with related parties during the year were based on terms that would be available to third
parties. All other transactions were made in ordinary course of business and at arm''s length price.

(ii) All outstanding balances are unsecured and are repayable on demand.

35 Employee benefit expenses
A) Defined Contribution Plans:

The Company makes contribution in the form of provident funds as considered defined contribution plans
and contribution to Employees Provided Fund Orgnisation.The Company has no further payment obligations
once the contributions have been paid. Following are the schemes covered under defined contributions plans
of the Company:

Provident Fund Plan & Employee Pension Scheme: The Company makes monthly contributions at prescribed
rates towards Employee Provident Fund administered and managed by Ministry of Labour & Employment,
Government of India.

Employee State Insurance: The Company makes prescribed monthly contributions towards Employees State
Insurance Scheme and payment made to Employee State Insurance Corporation, Ministry of Labour &
Employment, Government of India.

3 Financial instrument- Financial risk management objectives and
7 policies

The Company''s principal financial liabilities comprise borrowings, trade and other payables. The main purpose
of these financial liabilities is to manage finances for the Company''s operations. The Company''s principal
financial assets comprise trade and other receivables and cash and cash equivalent that arise directly from its
operations.

The Company''s activities expose it mainly to market risk, liquidity risk and credit risk. The monitoring and
management of such risks is undertaken by the senior management of the Company and there are appropriate
policies and procedures in place through which such financial risks are identified, measured and managed in
accordance with the Company''s policies and risk objectives. It is the Company policy not to carry out any
trading in derivative for speculative purposes.

The Company Board of Directors is ultimately responsible for the overall risk management approach and for
approving the risk strategies and principles. No significant changes were made in the risk management
objectives and policies during the year ended March 31, 2026 and March 31, 2025. The management of the
company reviews and agrees policies for managing each of these risks which are summarised below:

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

A) Market risk

B) Liquidity risk

C) Credit risk

A) 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 prices comprises three types of risk: currency rate risk, interest rate risk
and other price risks, such as equity price risk and commodity price risk. Financial instruments affected by
market risks include loan and borrowings, deposit, investments, and foreign currency receivables and
payables.

(i) Commodity price risk

Commodity price risk is the risk that future cash flows of the Company will fluctuate on account of changes in
market price of key items used in trading of goods/ rendering of services. The Company does not have any
other price risk than the interest rate risk and foreign currency risk as disclosed above.

(jjj) Foreign currency risk

Foreign currency risk is the risk impact related to fair value or future cash flows of an exposure in foreign
currency, which fluctuate due to changes in foreign exchange rates. The Company''s exposure to the risk of
changes in foreign exchange rates relates primarily to the foreign currency transactions with business
partners. The Company evaluates exchange rate exposure arising from foreign currency transactions.

B) 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 reasonable price.

The Company uses liquidity forecast tools to manage its liquidity. The Company is able to organise liquidity
through own funds and through current borrowings. The Company has good relationship with its lenders, as
a result of which it does not experience any difficulty in arranging funds from its lenders. Table here under
provides the current ratio of the Company as at the year end.

The customer credit risk is managed subject to the Company''s established policy, procedure and controls
relating to customer credit risk management. In order to contain the business risk, prior to acceptance of an
order from a customer, the creditworthiness of the customer is ensured through scrutiny of its financials, if
required, market reports and reference checks. The Company remains vigilant and regularly assesses the
financial position of customers during execution of contracts with a view to limit risks of delays and default.
In view of the industry practice and being in a position to prescribe the desired commercial terms, credit risks
from receivables are well contained on an overall basis.

The impairment analysis is performed on each reporting period on individual basis for major customers. Some
trade receivables are grouped and assessed for impairment collectively. The calculation is based on historical
data of losses, current conditions and forecasts and future economic conditions. The Company''s maximum
exposure to credit risk at the reporting date is the carrying amount of each financial asset as detailed in notes
6, 7, 9,10,11, and 12.

Provision for expected credit losses

The Company applies the simplified approach to recognize lifetime expected credit loss (ECL) on trade
receivables in the service sector. ECL is assessed on all outstanding trade receivables except in cases involving
advance payments, Government receivables with customary delays not exceeding one year and proven
recoverability, related party balances subject to separate assessment, and disputed amounts with specific
provisioning. Short payments due to enforceable offsets or contractual deductions are excluded if legally
substantiated. Given the nature of the Company''s professional service offerings, traditional ageing analysis is
not solely relied upon. Instead, a portfolio-based model using historical default data, customer segmentation,
and forward-looking factors is used to estimate ECL on a rational and supportable basis.

38 Capital management

For the purpose of Capital Management, Capital includes net debt and total equity of the Company. The
Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise
returns to shareholders. The capital structure of the Company is based on management''s judgement of its
strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market
confidence. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital
structure.

39 Segment information

An operating segment is a component of the Company that engages in business activities of providing car hire
services from which it may earn revenues and incur expenses and for which discrete financial information is
available. The operating segments are based on the Company''s management and internal reporting structure.
The Company does not have more than one reportable segment in accordance with the principles outlined in
Ind AS 108, Operating Segments, the disclosure requirements of the Standard are not applicable.

40 Contingencies and commitments

a) Contingent liabilities (to the extend not provided for)

46 Companies Act, 2013

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

ii) The Company does not have pending charges which are yet to be registered with ROC beyond the statutory
period.

iii) The Company has not traded or invested in crypto currency or virtual currency during the year.

iv) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in
accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year ended
March 31, 2026, and year ended March 31, 2025.

v) The Company has 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.

vi) The Company has 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.

vii) The Company does not have any such 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).

viii) The Company does not have any transactions with struck off companies.

ix) The Company does not have any borrowings from banks or financial institutions on the basis of security of
current assets.

x) The Group has not entered into any scheme of arrangement which has an accounting impact in the year ended
March 31, 2026 and March 31 2025.

xi) The Company has not revalued any of its property, plant and equipment''s or intangible assets during the year.

xii) The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and
the related parties (other than subsidiary companies) (as defined under Companies Act, 2013), either severally
or jointly with any other person, that are repayable on demand or without specifying any terms or period of
repayment.

xiii) As per the MCA notification dated August 5, 2022, the Central Government has notified the Companies
(Accounts) Fourth Amendment Rules, 2022. As per the amended rules, the Companies are required to
maintain the back-up of the books of account and other relevant books and papers in electronic mode that
should be accessible in India at all the time. Also, the Companies are required to create back-up of accounts
on servers physically located in India on a daily basis. The books of account along with other relevant records
and papers of the Company are maintained in electronic mode. These are readily accessible in India at all
times and a back-up is maintained in servers situated in India and The Company and its officers have full access
to the data in the servers.

xiv) 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
throughout the year. Additionally, the audit trail has been preserved by the Company as per the statutory
requirements for record retention. Based on the Company''s internal assessment, there has been no instance
of the audit trail feature being tampered with during the year.

47 Events after balance sheet date

No events have occurred between the reporting date and the date of approval of the standalone financial
statements (i.e., up to May 28, 2026) that would require adjustment to, or disclosure in, the financial
statements in accordance with the requirements of Ind AS 10 - Events after the Reporting Period.

38 Financial instrument- Financial risk

__management objectives and policies_____

The Company’s principal financial liabilities comprise borrowings, trade and other payables. The main
purpose of these financial liabilities is to manage finances for the Company’s operations. The Company’s
principal financial assets comprise trade and other receivables and cash and cash equivalent that arise
directly from its operations.

The Company’s activities expose it mainly to market risk, liquidity risk and credit risk. The monitoring
and management of such risks is undertaken by the senior management of the Company and there are
appropriate policies and procedures in place through which such financial risks are identified, measured
and managed in accordance with the Company’s policies and risk objectives. It is the Company policy not
to carry out any trading in derivative for speculative purposes.

The Company Board of Directors is ultimately responsible for the overall risk management approach and
for approving the risk strategies and principles. No significant changes were made in the risk management
objectives and policies during the year ended March 31, 2025 and March 31, 2024. The management of
the company reviews and agrees policies for managing each of these risks which are summarised below:

The Company lias exposure to the following risks arising

__from financial instruments: _____

A) Market

__risk_______

B) Liquidity

__risk_______

C) Credit risk

A) 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 prices comprises three types of risk: currency rate risk,
interest rate risk and other price risks, such as equity price risk and commodity price risk. Financial
instruments affected by market risks include loan and borrowings, deposit, investments, and foreign
__currency receivables and payables._____

(i) Commodity

__price risk ______

Commodity price risk is the risk that future cash flows of the Company will fluctuate on account of
changes in market price of key items used in trading of goods/ rendering of services. The Company does
__not have any other price risk than the interest rate risk and foreign currency risk as disclosed above._

(ii) Interest rate risk

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. Borrowings availed by the Company are subject to interest on
fixed rates as these are taken only for the purpose to finance the business and inducting new fleet and such
borrowings are repayable on demand.

The Company is not exposed to interest rate risk as it does not have any financial instruments bearing
variable interest rate as at the reporting date.

(iii) The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that
portion of loans and borrowings. With all other variables held constant, the company profit before tax is
affected through the impact on floating rate borrowings, as follows:

C) Credit risk

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in financial
loss to the Company. The Company is exposed to credit risk from its operating activities, primarily trade
receivables. The credit risks in respect of deposits with the banks, foreign exchange transactions and other
financial instruments are only nominal.

The customer credit risk is managed subject to the Company’s established policy, procedure and controls
relating to customer credit risk management. In order to contain the business risk, prior to acceptance of an
order from a customer, the creditworthiness of the customer is ensured through scrutiny of its financials, if
required, market reports and reference checks. The Company remains vigilant and regularly assesses the
financial position of customers during execution of contracts with a view to limit risks of delays and
default. Further, in most of the cases, the Company normally allow credit period of 30-45 days to all
customers which vary from customer to customer. In view of the industry practice and being in a position
to prescribe the desired commercial tenns, credit risks from receivables are well contained on an overall

__basis._

The impairment analysis is performed on each reporting period on individual basis for major customers.
Some trade receivables are grouped and assessed for impairment collectively. The calculation is based on
historical data of losses, current conditions and forecasts and future economic conditions. The Company’s
maximum exposure to credit risk at the reporting date is the carrying amount of each financial asset as

_ detailed in notes 7, 8, 10, 11, 12, and 13.

Provision for expected

__credit losses______

The Company applies the simplified approach to recognize lifetime expected credit loss (ECL) on trade
receivables in the service sector. ECL is assessed on all outstanding trade receivables except in cases
involving advance payments. Government receivables with customary delays not exceeding one year and
proven recoverability, related party balances subject to separate assessment, and disputed amounts with
specific provisioning. Short payments due to enforceable offsets or contractual deductions are excluded if
legally substantiated. Given the nature of the Company’s professional service offerings, traditional ageing
analysis is not solely relied upon. Instead, a portfolio-based model using historical default data, customer
segmentation, and forward-looking factors is used to estimate ECL on a rational and supportable basis.

47 Initial Public Offering

("IPO")______

During the year ended March 31, 2024, the Company filed Draft Red Herring Prospectus (DRHP) with the
Securities and Exchange Board of India ("SEBI"), and an application for in-principal approval from SEBI
(Securities and Exchange Board of India), BSE Limited ("BSE") and National Stock Exchange of India
Limited ("NSE") in connection with the proposed Initial Public Offering ("IPO") of its equity shares.

During the current period, the Company obtained the approval and filed Red Herring Prospectus (RHP) &
Prospectus with the Securities and Exchange Board of India ("SEBI") & completed Initial Public Offer
("IPO") of equity shares having face value of Rs. 2/- each at an issue price of Rs. 334/- per equity share,
comprising offer for sale of 18,000,000 shares aggregating to Rs. 6,012.01 million. The Company was
subsequently listed on September 04, 2024 in the NSE and BSE.

i) The Company does not have any Benami property, where any proceeding has been initiated or pending

__against the Company for holding any Benami property._

ii) The Company does not have pending charges which are yet to be registered with ROC beyond the

__statutory period._

iii) The Company lias not traded or invested in Crypto currency or Virtual Currency during the year.

iv) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in
accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year

__ended March 31, 2025, and year ended March 31, 2024,_

v) The Company lias 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._

vi) The Company lias 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._

vii) The Company does not have any such 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,_

viii) The Company does not have any transactions with struck off companies.

ix) The Company does not have any borrowings from banks or financial institutions on the basis of security of

__current assets._

x) The Company lias not revalued any of its property, plant and equipments or intangible assets during the

__year,_

xi) The Company lias not granted any loans or advances in the nature of loans to promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other

__person, that are repayable on demand or without specifying any tenns or period of repayment._

xii) As per the MCA notification dated August 5, 2022, the Central Government has notified the Companies
(Accounts) Fourth Amendment Rules, 2022. As per the amended rules, the Companies are required to
maintain the back-up of the books of account and other relevant books and papers in electronic mode that
should be accessible in India at all the time. Also, the Companies are required to create back-up of
accounts on servers physically located in India on a daily basis. The books of account along with other
relevant records and papers of the Company are maintained in electronic mode. These are readily
accessible in India at all times and a back-up is maintained in servers situated in India and The Company

__and its officers have full access to the data in the servers._

xiii) The Company lias used an accounting software i.e. Tally Prime for maintaining its books of accounts for
the financial year ended March 31, 2025 which have a feature of recording audit trail (edit log) facility
except audit trail functionality at the database level due to inherent limitations of the software and the same
has operated throughout the year for all relevant transactions recorded in the accounting software systems.
Further, during the course of our audit we did not come across any instance of audit trail feature being
tampered with and the audit trail has been preserved by the Company as per the statutory requirements for
record retention.

49 Events after balance sheet

__date______

No events have occurred between the reporting date and the date of approval of the standalone financial
statements (i.e., up to May 19, 2025) that would require adjustment to, or disclosure in, the financial
__statements in accordance with the requirements of Ind AS 10 - Events after the Reporting Period._

As per our report of even

_ date attached______

For S S Kothari Mehta & For and on behalf of the

__Co. LLP____Board of Directors___

Chartered Ecos (India) Mobility &

__Accountants___Hospitality Limited___

Finn Reg. No. (Formerly known as Ecos (India) Mobility &

_ 000756N/N500441 _ Hospitality Private Limited)

Sd/- Sd/- Sd/-

Sunil Wahal Rajesh Loomba Aditya Loomba

Partner Chainnan and Managing Joint Managing Director

_____Director__

Membership DIN. 00082353 DIN. 00082331

No. 087294_____

Place: New Place: New Delhi Place: New Delhi

__Delhi_____

Date: 19-05- Date: 19-05-2025 Date: 19-05-2025

2025_______

Hem Kumar Upadhyay Shweta Bhardwaj

Chief Financial Officer Company Secretary

Membership no. 43310
Place: New Delhi Place: New Delhi

Date: 19-05-2025 Date: 19-05-2025

(d) Terms and rights attached to equity shares

(i) The Company has only one class of equity shares having a par value of Rs, 2 per share (Previous year of Rs, 100 per share) Each shareholder is eligible for one vote per share held. In the event of liquidation of the Compam, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding

(ii) The Board of Directors of the Company in the Board meeting dated October 09, 2023, revised the authorised share capital of the Company from 25,000 (twenty five thousand) equity shares of Rs 100/- each i.c. Rs 25 00 lakh to 15,00,000 (fifteen lakh) equity shares of Rs 100/- each i,e, Rs 1,500,00 lakh The same was approved by the shareholders in their meeting dated October 11, 2023

(iii) The Board of Directors of the Company in the Board meeting dated November 15, 2023, and the shareholders in their extra-ordinary general meeting held on November 18, 2023, approved the sub-division of equity shares of the Company by reducing the face value of shares from Rs 100/- each to Rs, 2/- each.

As a result of the above, the authorised equity share capital is 7,50,00,000 (seven crorc) equity shares of Rs 2/- each i.e. Rs 1,500,00 lakh and the issued, subscribed and fully paid up equity share capital of the Company as on the date of signing of the financial statements is 6,00,00,000 (six crore) equity shares of Rs 2/- each i.e. Rs 1,200 00 lakh

(g) The Company for the year of five years immediately preceding the reporting date has not:

(i) Allotted any class of shares as fully paid pursuant to contract(s) without payment being received in cash except as mentioned in sr no (ii) below

(ii) Allotted fully paid up shares by way of bonus shares except for 11,94,000 equity shares of Rs 100 each in bonus issue during the financial year 2023-24

(iii) Brought back any class of shares

As per the records of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

(h) The Board of directors had recommended final dividend of Rs, 2.55/-per equity share of face value of Rs 2 00/-each(J27 50%), The payment of dividend is subject to the approval of the members at the Annual General Meeting of the Company

Nature and purpose of reserves

(i) Retained earnings

Retained tartiingl ere profits that the Company has earned till date less transfer to other reserve, dividend or other distribution or transaction with shareholders (n) General reserve

" "^,“^al ''r^{Sfer Profit} ,** “ ^SP“^iM "**> TP**. "***»>. consequent to the introduction

, * ^{C1, ,nc} rcqu''rcmcnt to nwnditoril) transfer a specified percentage of net profit to general reserve has been withdrawn

(iti) Other comprehensive income

^s3ros«f±r^ent"" " “''^{UUy itemS} ‘° ^{be a}“°^Un,ed " ^0CI'' " ''^{S d}“‘^{,hi in}*°^{(i) items} "*¦» to statement of profit and loss, and (ii) items that will he

iv) Performance obligation

Sale of products: Performance obligation in respect of sale of goods is satisfied when control of the goods is transferred to the customer, generally on delivery ot the goods and payment is generally due as per (he terms of contract with customers

Sale of service: The performance obligation in respect of services is satisfied over the period of time and acceptance of the customer Payment is generally due upon completion of service and acceptance of the customer

rr ^ T 1h¹" ^aCC° ? u s ^W"^{h ,akmg ,he effeCt} °^{f ,he B}°^{nus iSSUe 0f the E}Sh«. °f the Company. Further, during the

r_fTh^fZRim/ ^Swo^,r ,^{e N0V}''^{mber l5}'' ^{2023 approve}‘^{, lhe subdlvl5l}°" of Equity Share of the Company by reducing the face vafue

of shares from Rs 100/- each to Rs. 2/- each Hence, the number of Shares has been constdered after taking the above effect for calculating the Earnings per

Terms & Conditions

(j) Transactions will, related parties daring the year were based on lemrs that wonld be available lo third parties. All other tntnsaelions were made in ordinary course of business and at amt''s length price (n) AJl outstanding balances are unsecured and are repayable in cash '' ''

''¦'')*“ ⁿ⁰‘''"^cl“^{de the provisil}" *“*" Idf tntully. as they are determined on an actuarial basis for the Company as a whole. The decisions relating to the remuneration of the KMPs are taken

Dy Inc Hoard of Directors of the Company, in accordance with shareholders approval, wherever necessary.

35.1 Fair value hierarchy

i) The Company uses (he following hierarchy for fair value measurement of the company''s financials assets and liabilities:

Level I: Quoted prices/NAV (unadjusted) in active markets for identical assets and liabilities at the measurement dale.

Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly Level 3; Techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data

ii) Fair valualion techniques

The Company maintain* politic* and procedures to value financial assets or financial liabilities using the best and most relevant data available. The fair values of die financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following methods Bnd oisumptions were used to estimate the fair values

!> ^{Fair valuc ofcash and} deposits, trade receivables, trade payables, and other current financial assets and liabilities approximate their canying amounts largely due to the short term maturities oflhese instruments.

2) nwiml ings are evaluate! by Ike Company based on paramclers such as interest rales, specific counby risk factors, credit risk and other risk characteristics Fair value of variable interest rate borrowings approximates their carrying values.

36 Financial risk management

The Company''s principal financial liabililies comprise borrowings, trade and other payables. The main purpose of these linnneial liabilities is to manage linances for the Company''s operations Tile Company s principal financial assets comprise trade and other receivables and cash and cash equivalent that arise directly from its operations

The Company s activities expose il mainly to market risk, liquidity risk and credit risk The monitoring and management of such risks is undertaken by (lie senior management of the Company and there arc appropriate policies and procedures in place ihrough which such financial risks arc identified, measured and managed in accordance with the Company’s policies and risk objcclives II is the Company policy not to carry out any trading in derivative for speculative purposes

A) Market risk

Market risk is the risk dial (lie fair value of future cash Hows of a financial instrument will fluctuate because of changes in market prices Market prices comprises three types of risk: currency rate risk, interest rate risk and oilier price risks, such us equity price risk and commodity price risk Financial instruments alfccled by market risks include loan and borrowings, deposit, inveslnienls and foreign currency receivables and payables,

(i) Interest rale risk

Borrowing* availed by the Company arc uitycct to interest on fixed rales as these arc taken only for the purpose to finance the business and inducting new fleet and such borrowings are repayable on demand Tin; Company rs not exposed to interest rate hikes it does not have any financial instruments bearing variable interest rale as al the reporting dale.

(ii) Foreign currency risk

Fcreipi currency nsk » the n*k impact related to fair value or future cash flow* of an exposure in foreign currency, which fluctuate due to change* in foreign exchange rales. The Company''s expoiure to the mk of change* in foreign exchange rate* relate* primarily to the foreign currency transactions with business partners The Company evaluates exchange rate cxpo*ure arising from foreign currency transactions The Company follow* established mk management policies and standard operating.

(iii) Commodity price risk

Commodity price nsk is the risk that firlttre cash Dows ofllie Company will Iliictiiate on account of changes in market price of key ilcms used in hading of goods/ rendering of services The Company does noi have any other price nsk than the interest rale risk and foreign currency risk as disclosed above.

B) 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 reasonable price

The Company uses liquidity forecast tools to manage its liquidity The Company is able to organise liquidity through own funds and through current borrowings. The Company has good relationship with its lenders, as a result of which it does not experience any difficulty in arranging funds from its lenders Table here under provides the current raliooflhe Company as at the year end

C) Credit risk

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in Financial loss to the Company. The Company is exposed to credit risk from its operating activities, primarily trade receivables The credit risks in respect of deposits with the banks, foreign exchange transactions and other financial instruments are only nominal.

The customer credit risk is managed subject to the Company''s established policy, procedure and controls relating to customer credit risk management In order to contain Hie business risk, prior to acceptance of on order from a customer, the creditworthiness of the customer is ensured through scrutiny of its financials, if required, market reports and reference checks The Company remains vigilant and regularly assesses die financial position of customers during execution of contracts with a view to limit risks of delays and default Further, in most of the cases, the Company normally allow credit period of30-45days to all customers which vary from customer to customer hi view of the industry practice and being in a position to prescribe (Ire desired commercial terms, credit risks from receivables are well contained on an overall basis,

The impairment analysis is performed on each reporting period on individual basis for major customers Some trade receivables are grouped and assessed for impairment collectively. The calculation is based on historical data of losses, current conditions and forecasts and future economic conditions. The Company’s maximum exposure to credit risk at the reporting dale is the carrying amount of each financial asset as detailed in notes 7,8, 10,11, 12, and 13.

37 Segment information

In accordance with Ind AS 108 "Operating Segments", segment information lias been given in the consolidated financial statements of the Company, and therefore, no separate disclosure of segment information is given in these standalone financial statements

38 Capital management

For the purpose of Capital Management, Capital includes net debt and total equity of the Company The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders The capital structure of Hie Company is based on management''s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence. The Company mm take appropriate slept in order to maintain. o» if necettan adjuit. it* capital structure_

♦The Company had transferred the CSR obligation for the year ended March 31, 2023 lo the Company''s unspent CSR account on April 3, 2023 Due to non activation of CMS in CSR unspent bank account, the amount spent Rs 4 25 lakhs for the ongoing project was paid from company''s bank account on March 26 2024 and later was transferred back from the unspent CSR Account to the Company''s account on March 27, 2024 Remaining Rs 0 12 lakhs remains in the Company''s unspend CSR account

* The CSR obligation for the year ended March 31, 2022 in respect of ongoing projects was not transferred to a special account within a period of 30 days from the end of the relevant financial year. The said amount was subsequently utilized and transferred lo the Company’s unspent CSR account and subsequently transfer lo Prime Minister’s Relief Fund from Company’s Bank Account The same is not in compliance with section 135 of the Act

43 Olher Statutory Information

i) The Company does not have any Benami property, where any proceeding lias been initialed or pending against ihe Company for holding any Benami property

ii) Tile Company does not have pending charges which are yet lo be registered with ROC beyond the statutory period

iii) The Company has not traded or invested in Crypto currency or Virtual Currency during the year

iv) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year ended March 31,2024, and year ended March 31,2023.

v) The Company has not advanced or fowled or invested funds lo any oilier person(s) or cnlity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or

indirectly lend or invest in other pci tons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guaranlee, security or ihe like to or on behair

of the Ultimate Beneficiaries,

vi) The Company hai not received any fund from any pcrx*K») or cntitjficj), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that Ihe Company shall:

(a) directly or indirectly lend or in\c*t 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.

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

viii) The Company does not have any transaclions with struck off companies

ix) The Company does not have any borrowings fiom banks or financial inslitulions on the basis of security of current assets

x) The Company has not revalued any of its property, plant and equipments or intangible assets during the year.

44 Employee Benefit Expenses A) Defined Contribution Plans:

The Company makes contribution in the form or provident funds as considered defined contribution plans and contribution to Employees Provided Fund Orgnisalion The Company has no further payment obligations once the contributions have been paid Following are the schemes covered under defined contributions plans of the Company:

Provident Fund Plan & Employee Pension Scheme: The Company makes monthly contributions at prescribed rates towards Employee Provident Fund adminislered and managed by Ministry of Labour* Employment, Government of India

Employee Stale Insurance: The Company makes prescribed monthly contributions towards Employees Slate Insurance Scheme and payment made lo Employee Stale Insurance Corporation, Ministry of Labour* Employment, Government of India

46 Standards notified but not yet effective

No new standard lias been notified during the financial year ended March 31,2024

47 As per Hie MCA notification dated August 5, 2022, die Central Government has notified die Companies (Accounts) Fourth Amendment Rules, 2022 As per the amended rales, the Companies are required to maintain the back-up of the books of account and other relevant book* and paper* to electronic mode that should be accessible in India at all the lime Also, the Companies are required to create back-up of accounts on servers physically located in India on a daily basis

The books of account along wilh olher relevant records and papers of (he Company are maintained in electronic mode These are readily accessible in India at all limes and a back-up is maintained in servers situated in litdta awl The Company and its officers have full access to the data in the servers,

48 The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the proviso 1o Rule 3(1) of Ihe Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which utes accounting software foe maintaining its books of accounts, shall use only such accounting software which las a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of accounts along wilh the dale when such changes were made and ensuring that lire audit trail cannot be disabled

The company uses accounting software i c Tally Prime for maintaining us books of account which has a feature of recording audit trail (edit log) facility and lire same lun operated llirouglKxil die year for all relevanl transactions recorded in Ihe accounting software, however, there is some inherent limitations of this accounting software like i) user creation and deletion log not maintained ii) User Idcnlificalion issue after deletion of User ID iii) tally uses user’s system date and lime instead oraclual lime & etc

The company also uses Rent a Nel (in-house software) for the purpose or maintaining sales & billing records which does not have a feature of recording audit trail (edit log) facility Based on management assessment, Ihe non-availability or audit trail functions will not have any impact on the performance of the accounting software, as management has all the olher necessary controls in place which arc operating effectively.

53 Inflial Public Offering ("IPO")

During Ihc year ended March 31, 2024, ihe Company has filed Draft Red Herring Prospectus (DRHP) with Ihe Securities and Exchange Board of India ("SEBI"), and an application for In-principal approval from SEBI (Securities and Exhangc Board of India), BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") in connection with the proposed Initial Public Offering (^HIPO^H) of its equity shares The Company has not received in principal approval Grom SEBI, BSE & NSE.

54 Previous year figures have been regrouped/ rearranged wherever considered necessary to make them comparable with current year figures