2.16 Provisions, Contingent Liabilities and Contingent
Assets

A provision is 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. Provisions (other than for retirement
benefits) are not discounted to present value and
are based on the best estimate required to settle the
obligation at the reporting date; they are reviewed
at each reporting date and adjusted to reflect the
current best estimate. Contingent liabilities are not
recognised but are disclosed in the notes unless the
possibility of an outflow is remote. Contingent assets
are not recognised but are disclosed where an inflow of
economic benefits is probable.

2.17 Commitments

Commitments are future liabilities for contractual
expenditure and include the estimated amount of
contracts remaining to be executed on capital account
and not provided for, and other non-cancellable
commitments, to the extent considered material
and relevant in the opinion of management. Other
commitments relating to purchases/sales made in the
normal course of business are not disclosed to avoid
excessive detail.

2.18 Borrowing Costs

Borrowing costs comprise interest and other costs
incurred in connection with the borrowing of funds,
including exchange differences to the extent regarded
as an adjustment to borrowing costs. Borrowing costs
directly attributable to the acquisition, construction
or production of a qualifying asset are capitalised as
part of the cost of that asset until it is ready for its
intended use or sale; a qualifying asset is one that
necessarily takes twelve months or more to get ready
for its intended use or sale. Capitalisation is suspended
during extended periods in which active development
is interrupted, and such costs are charged to the
Statement of Profit and Loss. All other borrowing costs
are recognised as an expense in the period in which
they are incurred.

2.19 Leases

Identification of a lease: At inception of a contract, the
Company assesses whether the contract is, or contains,
a lease. A contract is, or contains, a lease if it conveys
the right to control the use of an identified asset for a
period of time in exchange for consideration, evaluated
by reference to whether (i) the contract involves the use
of an identified asset, (ii) the Company has the right to
obtain substantially all of the economic benefits from
use of the asset throughout the period of use, and
(iii) the Company has the right to direct the use of the
asset.

The Company as a lessee: The Company''s leasing
arrangements primarily comprise (a) heavy machinery
and construction equipment leased for use at project
sites, and (b) office and administrative premises for the
head office and regional offices. The Company applies
a single recognition and measurement approach for all
leases, except short-term leases (term of twelve months
or less with no purchase option) and leases of low-value
assets, for which lease payments are recognised as
an operating expense on a straight-line basis over the
lease term.

Right-of-use (ROU) assets: ROU assets are recognised at
the commencement date at cost, comprising the initial
measurement of the lease liability, initial direct costs,
lease payments made at or before commencement (net
of incentives received), and an estimate of restoration
costs. ROU assets are subsequently measured at cost
less accumulated depreciation and impairment losses,
and are depreciated on a straight-line basis over the
shorter of the lease term and the useful life of the
underlying asset. Where ownership transfers at the end
of the lease term or a purchase option is reasonably
certain to be exercised, depreciation is over the useful
life of the asset. ROU assets are tested for impairment
under Ind AS 36 whenever indicators of impairment
exist.

Lease liabilities: At the commencement date, the
Company recognises a lease liability measured at the
present value of the lease payments to be made over
the lease term, discounted using the interest rate
implicit in the lease or, where that rate cannot be readily
determined, the Company''s incremental borrowing
rate. Lease payments included in the measurement
comprise fixed payments (including in-substance
fixed payments) less any lease incentives receivable,
variable payments depending on an index or rate,
amounts expected to be payable under residual value
guarantees, and the exercise price of a purchase option
or termination penalties where reasonably certain.
The liability is subsequently increased by interest and
reduced by lease payments, and remeasured on any
reassessment or lease modification.

Short-term and low-value leases: The Company has
elected to apply the recognition exemption under
Ind AS 116 for short-term leases and leases of low-
value assets, recognising the related lease payments
as an expense on a straight-line basis over the lease
term.

Presentation: ROU assets are presented as a separate
line item on the face of the Balance Sheet, distinct
from owned property, plant and equipment, and lease
liabilities are presented within ‘Financial Liabilities'',
bifurcated into current and non-current. In the
Statement of Profit and Loss, depreciation of ROU
assets is included in ‘Depreciation and amortisation
expense'', interest on lease liabilities in ‘Finance costs'',
and short-term, low-value and variable lease payments
in ‘Other expenses''. In the Statement of Cash Flows,
principal and interest portions of lease payments are
presented within financing activities, while short¬
term, low-value and variable lease payments are within
operating activities.

2.20 Cash and Cash Equivalents

Cash and cash equivalents comprise cash-in-hand,
balances in current accounts and short-term, highly
liquid deposits with an original maturity of three months
or less from the date of acquisition that are readily
convertible into known amounts of cash and subject
to an insignificant risk of changes in value. Other bank
balances comprise deposits with an original maturity of
more than three months but less than twelve months.
For the Statement of Cash Flows, cash and cash
equivalents exclude balances that are not available for
general use as at the reporting date.

2.21 Earnings per Share

Basic earnings per share is computed by dividing
the profit attributable to equity shareholders of the
Company by the weighted average number of equity
shares outstanding during the year. Diluted earnings
per share is computed using the weighted average
number of equity shares and dilutive potential equity
shares outstanding during the year, except where the
result would be anti-dilutive.

2.22 Segment Reporting

Operating segments are reported in a manner
consistent with the internal reporting provided to
the Chief Operating Decision Maker. The Company''s
business activities predominantly comprise a single
business of construction and engineering (EPC)

# During the year, the authorized share capital was increased from 2,50,00,000 equity shares of ''10 each amounting to ''25 crores to
3,50,00,000 equity shares of ''10 each amounting to ''35 crores vide order passed by the resolution at the meeting of the members
of the company held on 17/10/2025.

c. Terms/rights attached to equity share

Voting: Each holder of equity shares is entitled to one vote per share held.

Dividends: The Company has not distributed any dividend in the current year and previous year.

Liquidation: In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive all of the
remaining assets of the Company after distribution of all preferential amounts, if any. Such distribution amounts will be in
proportion to the number of equity shares held by the shareholders.

d. The Company does not have any Holding Company.Money Received Against Share Warrants

During the period, the Company allotted 3,75,000 Convertible Equity Share Warrants on a preferential basis to "Promoter & Promoter
Group” and "Non-Promoter” as approved in the Extra-Ordinary General Meeting held on October 17, 2025. Each warrant is issued at
a price of '' 482, comprising a subscription price of '' 120.50 (25% of the issue price) and a warrant exercise price of '' 361.50 (75%
of the issue price). Each warrant entitles the holder to apply for one fully paid-up equity share of the Company with a face value of
?10 upon payment of the balance '' 361.50 per warrant. Conversion can occur within 18 months from the date of allotment of share
warrants as per the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The sensitivity analyses above have been determined based on a method that extrapolates the impact on defined benefit
obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.In presenting
the above sensitivity analysis, the present value of defined benefit obligation has been calculated using the projected credit
unit method at the end of reporting period,which is the same as that applied in calculating the defined obligation liability
recognized in the balance sheet.The methods and types of assumptions used in preparing the sensitivity analysis did not
change compared to the prior period.

Risk Analysis

The Company is exposed to a number of risks in the defined benefit plans. Risks pertaining to defined benefit plans are given
above

Interest rate risk

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields falls, the defined
benefit obligation will tend to increase

Salary Inflation Risk

Higher than expected increases in salary will increase the defined benefit obligation.

Demographic risk

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability
and retirement. The effect of these decrements on the defined benefit obligation depends upon the combination of salary
Increase, discount rate and vesting criteria.

The Company measures the progress of satisfaction of its performance obligations using the cost-to-cost input method based on
costs incurredrelativeto total estimated contract costs, which provides afaithful depiction of the transfer of control tothe customer.
*Costs incurred include: direct material costs consumed at site, direct labour, subcontractor costs, plant hire directly
attributable to the contract, and other directly allocable costs. Excluded from the measure of progress: (i) costs of materials
ordered/delivered but not yet installed or consumed; (ii) costs due to inefficiencies or abnormal wastage; and (iii) mobilisation
advance adjustments.”

(a) Contract With Customers

The Company has recognised '' 820.27 Crores (P.Y. '' 369.68 Crores) as revenue from Contracts with customers during
the year.

(b) Disaggregation of Revenue

The Company operates in a single business segment and all activities are carried out within India. Based on the internal
reporting and review by the Chief Operating Decision Maker, there are no other distinguishable business or geographical
segments as defined under Ind AS 108 - Operating Segments. Hence, segment reporting is not applicable for the year
ended March 31, 2026.

(c) Contract Balances

Details of trade receivables, contract assets and customer advances arising from the contracts with customers are given
below:

Notes To Related Party Disclosures

(i) The transactions with related parties are made in the ordinary course of business and on terms equivalent to those that
prevail in arm''s length transactions with other vendors. Outstanding balances at the year-end is unsecured.

Note 39 : Disclosure as per Ind AS 115 - Revenue from Contract with Customers
“Accounting Policy:

Company''s entire business falls under one operational segment of ‘Engineering, Procurement and Construction''. Contract
revenue represents revenue from Engineering and Construction contracts wherein the performance obligation is satisfied
over a period of time by transferring control of goods or services to customers. Further, the management believes that the
nature, amount, timing and uncertainty of revenue and cash flows from all its contracts are similar. Accordingly, disclosure of
revenue recognised from contracts disaggregated into categories has been made.”

“Nature of Contract and Performance Obligation:

The Company undertakes EPC and civil construction contracts for residential buildings, commercial complexes, institutional
structures, industrial facilities, and infrastructure projects for government and private sector clients. Each construction
contract is generally treated as a single performance obligation since the promised goods and services (civil works,
structural works, MEP, finishing) are highly inter-dependent and together result in a customised combined output. Where
a contract contains multiple distinct promises capable of being separated, these are treated as separate performance
obligations with an appropriate allocation of the transaction price.”

“Method of Recognition of Progress:(d) Disclosure as per Ind AS 115 - Revenue from Contract with Customers

Revenue for construction contracts is recognised in profit or loss in proportion to the stage of completion of the contract.
The stage of completion is assessed by reference to surveys of work performed. Otherwise, contract revenue is recognised
only to the extent of contract costs incurred that are likely to be recoverable. Revenue in excess of billings is recognised
as Unbilled revenue and is classified as Financial Asset for these cases as right to consideration is unconditional upon
passage of time.

During the year ended 31^st March 2026, '' 25.38 Crores (P.Y. '' 55.06 Crores) of opening unbilled revenue has been either
reclassified to Trade Receivables upon billing to customers on completion of milestone or has been part of closing
unbilled revenue.

Changes in Contract Assets is on account of transactions undertaken in the normal course of business.

(e) Performance Obligations

The Company has applied the practical expedient as provided in Ind AS 115 and excluded the disclosure relating to
remaining performance obligation for:

(i) Contracts where the original expected duration is one year or less

# The Company has received a GST demand of ?0.48 crore pertaining to FY 2019-20 relating to Input Tax Credit (ITC), against
which an appeal has been filed. Based on legal advice and management''s assessment, the Company expects a favourable
outcome. The Company has also received a GST demand of ?0.01 crore pertaining to FY 2025-26 relating to E-Way Bill
compliance, against which an appeal has been filed and a favourable outcome is expected. Further, a GST demand of ?0.67
crore pertaining to FY 2024-25 has been raised in respect of IPO.

* Due to MSME includes wholesalers, manufacturers, retailers and service providers. As per the provisions of Income tax act,
the interest liable to be paid on the MSME dues shall be calculated only the dues to Micro and Small manufacturers, service
providers. It excludes, Traders.

NOTE 44: SEGMENT REPORTINGA. Basis for Segmentation

"The Company has determined that it operates as a single operating segment.

An operating segment is defined as a component that engages in business activities generating revenues and incurring
expenses, with discrete financial information available.

The Board of Directors serves as the Chief Operating Decision Maker (CODM), overseeing all major decisions regarding
business planning, budgeting, expansion, alliances, joint ventures, mergers and acquisitions, and facility expansions.”

Entity Wide DisclosuresB. Information about Reportable Segments

The Company is engaged in the business of execution of Engineering, Procurement and Construction (EPC) projects
and related construction activities, which is considered as a single reportable business segment in accordance with
Indian Accounting Standard (Ind AS) 108 - Operating Segments. The Chief Operating Decision Maker (CODM) reviews
the Company''s performance and allocates resources at an overall entity level. Accordingly, the Company has determined
that it operates in a single reportable segment and therefore, separate segment disclosures are not required.

C. Information about Geographical Areas

The Company operates primarily under a single geographic location, i.e., India, and accordingly, there are no separate
reportable geographical segments.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques
which maximise the use of observable market data and rely as little as possible on entity specific estimates. If all significant
inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level
3. The fair value of financial assets and liabilities included in Level 3 is determined in accordance with generally accepted
pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer
quotes of similar instruments.

The Company''s borrowings have been contracted and amortised based on the Effective interest rate. Accordingly, the carrying
value of such borrowings (including interest accrued but not due) which approximates fair value.

The carrying amounts of trade receivables, trade payables, cash and cash equivalents and other financial assets and liabilities,
approximates the fair values, due to their short-term nature. Fair value of non-current financial assets which includes bank
deposits (due for maturity after twelve months from the reporting date) and security deposits is smiliar to the carrying value
as there is no significant differences between carrying value and fair value.

The fair value for security deposits (amortised cost) were calculated based on discounted cash flows using a current lending
rate. The interest income on such security deposit is cumulated year on year and the carrying amount is represented as PV of
Security deposit in addition to the interest income.

B) Financial risk management objective and policies (continued)

(All Amount are in ? Crores, unless otherwise stated)

The Company''s Board of Directors has overall responsibility for the establishment and oversight of the Company''s risk
management framework. The Board of Directors have authorised senior management to establish the processes and
ensure control over risks through the mechanism of properly defined framework in line with the businesses of the
company.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risks limits and controls, to monitor risks and adherence to limits. Risk management policies are reviewed
regularly to reflect changes in market conditions and the Company''s activities.

The Company has policies covering specific areas, such as interest rate risk, foreign currency risk, other price risk,
credit risk, liquidity risk, and the use of derivative and non-derivative financial instruments. Compliance with policies and
exposure limits is reviewed on a continuous basis.

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

• Credit risk

• Market risk

• Liquidity risk

Interest accrued on FD and advances to employees. The company''s maximum exposure to credit risk is limited to the
carrying value of its financial assets at the reporting date.

Since the majority of sales are conducted on a cash or upfront payment basis, the company has minimal exposure to
credit risk from customers. For any credit sales, robust internal controls and credit policies are in place to mitigate
potential risks. The company has a limited history of customer defaults, and the credit quality of its trade receivables,
particularly those that are not overdue, is considered strong. As a result, the company does not expect significant credit
risk from non-performance by its customers or counterparties.

(ii) . Market risk

Market risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, the Company
mainly has exposure to two type of market risk namely: currency risk and interest rate risk. The objective of market
risk management is to manage and control market risk exposures within acceptable parameters, while optimising the
return.

B) Financial risk management objective and policies (continued)

a. Currency risk

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in
foreign exchange rates. The Company is not exposed to the effects of fluctuation in the prevailing foreign currency
exchange rates on its financial position and cash flows to the extent of earnings and expenses in foreign currencies.
The company has not enterede into any forex transactions.

b. Interest rate risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in
market interest rates. The Company''s main interest rate risk arises from long-term borrowings with variable rates,
which expose the Company to cash flow interest rate risk. Therefore, the Borrowings are valued at effective Interest rate.

(iii) Liquidity Risk

The Company requires funding for both short-term operational needs and long-term expansion initiatives. It is dedicated
to maintaining a strong liquidity ratio, reducing debt, and strengthening the balance sheet. Liquidity risk is managed
through the Company''s efforts in closely monitoring forecasted and actual cash flows, as well as aligning the maturity
schedules of financial assets and liabilities.

The treasury department oversees liquidity, funding, and settlement management, while senior management supervises
the processes and policies governing these risks. The Company''s financial liabilities primarily consist of long-term and
short-term bank borrowings and trade payables.

The table below presents the maturity schedule of these liabilities, indicating the remaining period from the balance
sheet date to their contractual maturity.

NOTE 46: Disclosure pursuant to Ind AS 101 “First time adoption of Indian Accounting Standards”

The company has prepared its Separate Financial statements which complies with IND AS applicable for the year ending as
on 31^st March 2026 for comparative purpose for the period ending 31^st March 2025. In preparing these financial statements,
the Company''s opening balance sheet has been prepared as at April 01, 2024 being the Company''s date of transition to Ind
AS. This note explains the principal adjustments made by the Company in restating its IGAAP financial statements, including
the balance sheet as at April 01, 2024 and the financial statements for the year ended 31^st March 2026.

i) Ind AS 115 - Revenue from Contract with Customers

The Company has adopted Ind AS 115 - Revenue from Contracts with Customers with effect from April 01, 2024 using
Modified Retrospective Approach. Accordingly, the standard was applied retrospectively only to contracts that were not
completed as at the date of transition.

Under this Standard, revenue is recognised when control of the promised goods or services is transferred to the customer
over a period of time. The Company measures the progress of satisfaction of its performance obligations using the
cost-to-cost input method based on costs incurred relative to total estimated contract costs, which provides a faithful
depiction of the transfer of control to the customer.

Accordingly, revenue is recognised to the extent of work performed up to the reporting date, even where the
corresponding billing to customers has not yet been raised. Such amounts are recognised as Contract Assets and
represent the Company''s right to consideration in exchange for goods or services already transferred to customers.

A contract asset of '' 22.42 crore was created as at 01 April 2024, representing revenue recognised for performance
obligations satisfied but not yet billed to customers. During FY 2024-25, the Company continued to recognise revenue
from ongoing contracts based on the progress towards satisfaction of the respective performance obligations in
accordance with Ind AS 115. As at the reporting date, a contract liability of ''8.99 Crores was recognised in respect of
amounts billed and/or received from customers for which the related performance obligations had not yet been satisfied.
The contract liability represents the Company''s obligation to transfer goods or services to customers in future periods
against consideration already received or due from customers.

ii) Ind AS 116 - Leases

"The company adopted Ind AS 116 using the modified approach (with practical expedient), where on the date
of the transition the Right-of-Use (ROU) assets and Lease Liability is measured as a Present Value of future Lease
Payments discounted at the rate of interest on the date of transition. Thus, the Right of use asssets is measured at
an amount equal to the lease liability (PV of lease paymentss discounted at the rate of interest present on the date
of transition). This involves calculating depreciation from the lease commencement date viz. Date of transition.
As the Right of use assets and lease liability is measured on the date of transition, adjustments made to the retained
earnings of the earliest of the reporting period i.e as at April 01, 2024 amounts to '' 0.02 Crores, '' 0.00 Crores (''44,806/-
in '') has been adjusted in the retained earnings during the FY 2024-25.”

iii) Ind AS 109 - Financial Instruments

The Company has reclassified its financial assets and financial liabilities based on their contractual cash flow
characteristics and the business model within which they are managed, in accordance with Ind AS 109 - Financial
Instruments. Financial assets and financial liabilities that satisfy the criteria for measurement at amortised cost are
carried at amortised cost using the Effective Interest Rate (EIR) method. The Company''s financial assets include, Lease
Deposits and NSC Deposits, which are measured at amortised cost. Accordingly, as at 01^st April 2024 (being the earliest
reporting period), the lease deposits have been restated at amortised cost, and the impact of amortisation amounting to
'' 2,214.04/- (in '' on April 01, 2024 and '' 1,591.37 for FY 2024-25 (in '' has been adjusted against Retained Earnings
in accordance with the transition requirements of Ind AS 109.

iv) Ind AS 12 - Income Taxes

Upon adoption of Ind AS, deferred tax assets and liabilities were remeasured based on the temporary differences
arising between the carrying amounts of assets and liabilities in the financial statements and their tax bases, using
the applicable tax rates. The impact of remeasurement was recognized in retained earnings as of the transition date.
Deferred tax adjustments were accounted for IND AS Adjustments such as Creation of Right-to-Use, Lease Liability, PPE,
etc. Comparative figures were restated to reflect these changes. The overall adjustments to ensure compliance with
Ind AS 12 "Income Taxes, as at April 01, 2024 being the earliest of the reporting period, deferred tax asset has been
recognised at amount of '' 0.06 Crores and '' 0.06 Crores for FY 2024-25.

v) Ind AS 19 - Employee benefits

Employee benefits were adjusted in line with Ind AS 19 "Employee Benefits.” Actuarial gains and losses for defined
benefit plans were recognized in other comprehensive income, rather than being deferred or recognized in profit or loss.
There were no adjustments to the retained earnings of the company as it is reclassified from the Current service cost and
Interest on DBO to Other Comprehensive Income. Comparative figures were restated to reflect these changes.

vi) Ind AS 8 - Accounting Policies, Changes in Accounting Estimates, and Errors

The company applied Ind AS 8 "Accounting Policies, Changes in Accounting Estimates, and Errors” to ensure consistency
in financial reporting. Changes in accounting policies were applied retrospectively, with adjustments made to prior
periods'' financial statements for comparability. Any errors identified were corrected retrospectively by restating the
relevant prior period figures. Changes in accounting estimates were applied prospectively from the date of change. The
cumulative effects of these adjustments were reflected in the opening balance of retained earnings as of the earliest
period presented.

Following are the major errors adjusted against the Retained earnings as the beginning of the reporting period i.e April
01, 2024

(a) The Property, Plant and Equipment - Tangible assets and Intangible assets have been carried at a value ( Cost -
Accumulated depreciation). The depreciation charged is not compliance with the provisions of the companies act
- Schedule II to the Companies Rules, 2014. Thus, the value of the assets have been restated and the difference
has been adjusted against the retained earnings amounting to '' 0.19 Crores as at the date of transition and '' 0.33
Crores for FY 24-25.

(b) The Income tax payable and receivables have been rectified for an amount of '' 0.05 Crores as at the date of
transition and '' 0.01 Crores for the FY 24-25.

# Retained earnings have been adjusted only for the cumulative effect of transition adjustments as at the date of
transition. The impact of adjustments relating to FY 2024-25 has been recognised in the Statement of Profit and Loss for
the year ended 31^st March 2025 in accordance with the applicable accounting requirements.

h) Provisions and Contingent Liabilities:

A provision is recognised if, as a result of past event, the Company has a present legal obligation that can be
estimated reliably and it is probable that an outflow of economic benefit will be required to settle the obligation.
Provisions are determined by the best estimate of outflow of economic benefits required to settle the obligation at
the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability. A disclosure
for a contingent liability is also made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. Where there is possible obligation or present obligation in respect
of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

i) Government grant:

Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant
will be received and the Company will comply with all attached conditions. Government grants relating to income are
deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are
intended to compensate and presented within other operating income.

j) Earnings Per Share:

Basic Earnings per share is computed by dividing the net profit after tax by the weighted average number of equity
shares outstanding during the period. Diluted earnings per share is computed by dividing the net profit after tax
by the weighted average number of shares considered for deriving basic earnings per share and also the weighted
average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.
The diluted potential equity shares are adjusted for the proceeds receivable had the shares been actually issued at
fair value which is the average market value of the outstanding shares. Dilutive potential equity shares are deemed
converted as at the beginning of the period, unless issued at a later date. Dilutive potential equity shares are
determined independently for each period presented.

k) Current and Non current classification:

"An asset shall be classified as current when it satisfies any of the following criteria:

(a) it is expected to be realized in, or is intended for sale or consumption in, the company''s normal operating cycle;

(b) it is held primarily for the purpose of being traded;

(c) it is expected to be realized within twelve months after the reporting date; or it is Cash or cash equivalent unless it
is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting date.

All other assets shall be classified as non-current.”

"An operating cycle is the time between the acquisition of assets for processing and their realization in Cash or cash
equivalents. Where the normal operating cycle cannot be identified, it is assumed to have a duration of twelve months.”

A liability shall be classified as current when it satisfies any of the following criteria:

(a) it is expected to be settled in the company''s normal operating cycle;

(b) it is held primarily for the purpose of being traded;

(c) it is due to be settled within twelve months after the reporting date; or

(d) the company does not have an unconditional right to defer settlement of the liability for at least twelve months
after the reporting date. Terms of a liability that could, at the option of the counterparty, result in its settlement
by the issue of equity instruments do not affect its classification.All other liabilities shall be classified as non-current.”

l) Cash and Bank Balances:

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

m) Inventories:

Inventories consisting of work in progress are valued at cost or net realisable value whichever is lower. Work-in¬
progress consisting of material, labour and other direct expenses are valued at cost incurred.

n) Segment Reporting:

The business activities of the company predominently fall within a single primary business. Thus there is no separate
reportable Segment businesses.

Note: 26 Additional Disclosures With Respect To Amendments To Schedule III:

1 Corporate Social Responsibility (CSR):

The Corporate Social Responsibility (CSR) provisions are applicable to our Company from FY 2023-24 onwards. Our
Company has constituted the Corporate Social Responsibility Committee under sub-section (1) of Section 135 of
Companies Act, 2013 and approved in the Board Meeting on March 20, 2024. As part of its initiatives under "Corporate
Social Responsibility (CSR), our Company has undertaken projects in the areas of Education, Livelihood, Health,
Water and Sanitation. These projects are largely in accordance with Schedule VII read with Section 135 (2) of the
Companies Act, 2013.

Notes*

1. Demand of Rs. 48.24 Lakhs is related to FY 2019-20, appeal has been filed against the demand and the final order is
expected to be favourable to the company.

2. TDS demand of Rs.1.52 Lakhs is under rectification.

3. In the EPC business, the contractor shall be responsible to make good at their own cost for any defects arise out of faulty
workmanship or quality related issues in delivering the accepted quality which may develop post a certain period after
completion of works. This period is called defect liability period, and it may vary from contract to contract and in usual
terms it is for a period of 12 months from completion of work. During this defect liability period there exists a contingency
on part of the company to incur any additional cost that may arise in making good for any defects or issues that may
arise. This contingent liability is inherent in nature for this business and cannot be quantified at inception or as the work
progresses.

4 Proposed Dividend Details:The Company has not declared dividend for the year ended FY2025.

5 No issue of securities were made for any specific purpose by the Company during the reporting year.

6 The Company has not made borrowings from banks and financial institutions for any specific purposes during the year.

7 The assets other than Property, Plant and Equipment, Intangible Assets and non-current investments have value on
realization in the ordinary course of business equal to the amount at which they are stated.

8 Details of Benami Property heldThere are no proceedings initiated or pending against the Company for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

9 The Company has borrowings from the banks or financial institutions on the basis of security of current assets. Quarterly
returns or statement of current assets are filled by the company with banks are as follows:

Note: Canara bank limit was sanctioned in the month of December and periodical stock statements submission applicable
only from the third quarter of the financial year

10 Wilful Defaulter

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

11 Relationship with Struck off Companies

The Company has not entered into any transactions with companies struck off under section 248 of the Companies
Act, 2013

12 Registration of charges or satisfaction with Registrar of Companies:

The Company has no charge which is yet to be registered with Registrar of Companies beyond the statutory period

13 Compliance with number of layers of companies:

The Company has no subsidiaries hence layers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of Layers) Rules, 2017 are not applicable.

14 Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013.

15 Utilisation of Borrowed funds and share premium:

A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) 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

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

B. 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

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

16 No amounts have been set aside or proposed to be set aside to reserve to meet any specific liability, contingency or
commitment known to exit at the date as at which balance sheet made up.

23 Employee Benefit (Incurred in India):

Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit
Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and
measures each unit separately to build up the final obligation. The Company does not have a funded plan for gratuity
liability.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the
actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of the benefits from the Plan''s benefit formula attributable to
the services rendered by employees during the accounting period.

Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial
assumptions. It could also occur due to changes made in the actuarial assumptions.

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

24 Cashflow Statement

(1) The amount of significant cash and bank balances held by the enterprise as at March 31, 2025 was Rs.
40,03,42,684.98 that are available for use by Company.

(2) Company does not have undrawn borrowing facilities that may be available for future operating activities.

(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.

(4) Company is investing adequately in the maintenance of its operating capacity.

(5) There are no non cash transactions happened in investing and financing activities to be excluded from Cash
Flow Statement.

25 Changes in Accounting Estimates

There are no changes in Accounting Estimates made by the Company during the year.

26 Changes in Accounting Policies

There are no changes in Accounting Policies made by the Company during the year.

27 Disclosures on PPE and Intangible Assets

I. Property, Plant and Equipment

(1) There is no restriction on the title of Property, Plant and Equipment, subject to only those which are under
hypothication/ charge.

(2) Company has not constructed any item in Property, Plant & equipment.

(3) Company has no contractual commitments for the acquisition of Property,Plant & Equipment.

(4) Company has no Impairment loss during the period for Property, Plant & Equipment.

(5) Assets are periodiacally checked for active usage and those which are retired are written off.

(6) There are no temporarily idle property, plant and equipment.

(7) The carrying amount and remaining amortization period of any individual intangible asset are not material to the
financial statements of the enterprise as a whole.

II. Capital Work in progress and Intangible asset under development

The Company do not have Capital work in progress or Intangible asset under development for the financial year and
such disclosure do not arise

For and on behalf of the Board of Directors of As per our report of even date attached

SATHLOKHAR SYNERGYS E&C GLOBAL LIMITED For P P N AND COMPANY

(Formerly known as Sathlokhar Synergys Private Limited and Chartered Accountants

Sathlokhar Synergys E&C Global Private Limited) Firm''s Registration.No: 013623S

Peer review Certificate No.013578

G Thiyagu T Sangeethaa D Hitesh

Managing Director cum CEO Whole-Time Director Partner

DIN: 02755501 DIN: 07813738 M.No: 231991

UDIN: 25231991BMKRNB2122

Vijayakumar P Anil Prasad Sahoo

Chief Financial officer Company secretary

M. No.A22871

Place: Chennai
Date: 09-05-2025