C.E. Info Systems Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2026

j) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized if, as a result of a past event, the Company has

a present legal or constructive obligation that can be estimated reliably,
and it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation. If the effect of the time
value of money is material, provisions are determined by discounting
the expected future cash flows.

The Company uses significant judgement to disclose contingent
liabilities. Contingent liabilities are disclosed when there is a possible
obligation arising from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company
or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle
the obligation or a reliable estimate of the amount cannot be made.
Contingent assets are neither recognised nor disclosed in the financial
statements.

k) Revenue recognitionContracts involving provision of services and material

Revenue is recognized when, or as, control of a promised service
or good transfers to a customer, in an amount that reflects the
consideration to which the Company expects to be entitled in exchange
for transferring those products or services. To recognize revenues, the
following five step approach is applied: (1) identify the contract with a
customer, (2) identify the performance obligations in the contract, (3)
determine the transaction price, (4) allocate the transaction price to the
performance obligations in the contract, and (5) recognize revenues
when a performance obligation is satisfied. A contract is accounted
when it is legally enforceable through executory contracts, approval
and commitment from all parties, the rights of the parties are identified,
payment terms are defined, the contract has commercial substance
and collectability of consideration is probable.

Time-and-material / Volume based / Transaction based contracts

Revenue with respect to time-and-material, volume based and
transaction-based contracts is recognized as the related services are
performed through efforts expended, volume serviced transactions are
processed etc. that correspond with value transferred to customer till
date which is related to our right to invoice for services performed.

Proprietary products- Map data

Revenue from distinct proprietary perpetual license products is
recognized at a point in time at the inception of the arrangement when
control transfers to the client. Revenue from proprietary term license is
recognized at a point in time as per the term of the respective contracts
as no services are provided under these contracts during its term.

Revenue from updates is recognized over the contract term on a
straight-line basis as the company is providing a service of unspecified
upgrades on a when-and-if available basis over the contract term. In case
product license are bundled with a certain period of upgrades either for
perpetual or term based license, such upgrade support contracts are
generally priced as a percentage of the net fees paid by the customer to
purchase the license and are generally recognized as revenues ratably
over the contractual period that the support services are provided.

Multiple performance obligation

When a sales arrangement contains multiple performance, such as
services, hardware and Licensed IPs (Map Data) or combinations of
each of them revenue for each element is based on a five-step approach
as defined above. To the extent a contract includes multiple promised
deliverables, judgment is applied to determine whether promised
deliverables are capable of being distinct and are distinct in the context
of the contract. If these criteria are not met, the promised deliverables
are accounted for as a combined performance obligation. For
arrangements with multiple distinct performance obligations or series
of distinct performance obligations, consideration is allocated among
the performance obligations based on their relative consolidated selling
price. Consolidated selling price is the price at which Company would
sell a promised good or service separately to the customer. When not
directly observable, we estimate consolidated selling price by using
the expected cost plus a margin approach. We establish a consolidated
selling price range for our deliverables, which is reassessed on a periodic
basis or when facts and circumstances change.

Revenue recognition for delivered elements is limited to the amount
that is not contingent on the future delivery of products or services,
future performance obligations or subject to customer-specified return
or refund privileges.

Fixed-price contract revenue is recognized ratably on a straight-line
basis when services are performed through an indefinite number
of repetitive acts over a specified period. Revenue from long-term
contracts where the performance obligations are satisfied over time, are
recognised using the percentage of completion method. Percentage of
completion method accounting relies on estimates of total expected
contract revenue and costs. This method is followed when reasonably
dependable estimates of the revenues and costs applicable to various
elements of the contract can be made. The Company recognise the
revenue only if the stage of completion of contract exceeds 25%.

If the Company does not have a sufficient basis to measure the progress
of completion or to estimate total contract revenues and costs, revenue
is recognized only to the extent of contract cost incurred for which
recoverability is probable. Key factors that are reviewed in estimating
the future costs to complete include estimates of future employee
costs and productivity efficiencies. As the financial reporting of these
contracts depends on estimates that are assessed continually during
the term of these contracts, recognized revenue and profit are subject
to revisions as the contract progresses to completion. When estimates
indicate that a loss will be incurred, the loss is provided for in the period
in which the loss becomes probable.

For contracts, where the aggregate of contract cost incurred to date
plus recognised profits exceeds the progress billing, the surplus is
shown as contract asset. For contracts, where progress billing exceeds
the aggregate of contract costs incurred to date plus recognised profits,
the surplus is shown as contract liability. Amounts received before the
related work is performed are disclosed in the balance sheet as contract
liability. The amounts billed on customer for work performed and are
unconditionally due for payment i.e. only passage of time is required
before payment falls due, are disclosed in the Balance Sheet as Trade
receivables.

Revenue is measured based on the transaction price as per the contract
with a customer net of variable consideration on account of volume
discounts, rebates and other similar allowances.

Export entitlements

Export entitlements from government authorities are recognized in
Statement of Profit and Loss, when there is reasonable assurance that
the export entitlements (net of transactional costs) will be received and
all the attached conditions will be complied with.

Other incomeInterest income

Interest income is recorded using the effective interest rate (EIR). EIR
is the rate which exactly discounts the estimated future cash receipts
over the expected life of the financial instrument to the gross carrying
amount of the financial asset. When calculating the EIR the Company
estimates the expected cash flows by considering all the contractual
terms of the financial instrument (for example, prepayments, extensions,
call and similar options); expected credit losses are considered if the
credit risk on that financial instrument has increased significantly since
initial recognition

Dividend income

Dividends are recognized in Standalone statement of profit and loss
on the date on which the Company’s right to receive payment is
established.

Gain on sale of investments

Gains / (losses) on disposal of investments are determined with respect
to their original cost of acquisition and other cost incurred and are
reflected as such in the profit and loss account. Gains / (losses) due to fair
valuation of investment classified under category of FVTPL accounted
for as income or deduction up-to the date of sale is reversed in the profit
and loss account on the date of sale.

l) Foreign currency transaction and translationFunctional and presentation currency

Items included in the standalone financial statements are measured
using the currency of the primary economic environment in which
the entity operates (‘the functional currency’). The standalone financial
statements are presented in Indian rupee (INR), which is the Company’s
functional and Company’s presentation currency.

Transactions and balances

Transactions in foreign currencies are initially recorded by the Company
at their respective functional currency spot rates at the date of the
transaction. Foreign-currency denominated monetary assets and
liabilities are translated to the relevant functional currency at exchange
rates in effect at the Standalone Balance Sheet date. Exchange
differences arising on settlement or translation of monetary items
are recognized in the Standalone Statement of Profit and Loss. Non¬
monetary assets and non-monetary liabilities denominated in a foreign
currency and measured at historical cost are translated at the exchange
rate prevalent at the date of initial transaction. Non-monetary assets
and non-monetary liabilities denominated in a foreign currency and
measured at fair value are translated at the exchange rate prevalent at
the date when the fair value was determined.

Transaction gains or losses realized upon settlement of foreign currency
transactions are included in determining net profit for the year. Revenue,
expenses and cash-flow items denominated in foreign currencies are
translated into the relevant functional currencies using the exchange
rate in effect on the date of the transaction.

m) Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or
production of an asset (if any) that necessarily takes a substantial period
of time to get ready for its intended use are capitalized as part of the
cost of the asset. All other borrowing costs are expensed in the period in
which they occur.

Borrowing costs consist of interest and other costs that an entity incurs
in connection with the borrowing of funds.

n) Retirement and other employee benefitsi) Short-term employee benefits

Employee benefits payable wholly within twelve months of rendering
the service are classified as short-term employee benefits. Benefits
such as salaries, wages and bonus, etc. are recognised in the standalone
Statement of Profit and Loss in the period in which the employee
renders the related service.

ii) Post employment benefits
Defined contribution plan

The employee’s provident fund scheme is a defined contribution
plan. The Company makes specified monthly contributions towards
employee provident fund to Government administered provident
fund scheme which is a defined contribution plan. The Company’s
contribution is recognised as an expense in the Standalone Statement
of Profit and Loss during the period in which the employee renders the
related service.

Defined benefit plan

The Company’s gratuity plan is a defined benefit plan. The Gratuity
Plan provides a lump sum payment to vested employees at retirement,
death, incapacitation or termination of employment, of an amount
based on the respective employee’s base salary and the tenure of
employment (subject to a maximum of Rs. 20 lakhs per employee).
The liability is actuarially determined (using the projected unit credit
method) at the end of each year. Actuarial gains/losses are recognized
in the Standalone Balance Sheet with a corresponding debit or credit to
retained earnings through other comprehensive income in the year in
which they occur.

Remeasurement gains and losses arising from experience adjustments
and changes in actuarial assumptions are recognized in the period in
which they occur, directly in other comprehensive income and are never
reclassified to profit or loss. Changes in the present value of the defined
benefit obligation resulting from plan amendments or curtailments are
recognized immediately in the profit or loss as past service cost.

The Employee’s Gratuity Fund Scheme, which is defined benefit plan,
is managed by Trust with its investments maintained with Insurance
Company “’’Kotak Mahindra Life Insurance Company “’’ to cover its
liabilities towards employees’ gratuity.

The differential between the fund amount as per the Insurance
Company and the liability as per the actuarial valuation is recognized as
an asset or liability as the case may be.

Compensated absences

The employees of the Company are entitled to compensated absences.
The Company’s net obligation in respect of long-term employee
benefits other than post-employment benefits is the amount of future
benefit that employees have earned in return for their service in the
current and prior periods; that benefit is discounted to determine its
present value, and the fair value of any related assets is deducted.

The employees can carry-forward a portion of the unutilized accrued
compensated absences and utilize it in future service periods or
receive cash compensation on termination of employment. Since the
compensated absences do not fall due wholly within twelve months
after the end of the period in which the employees render the related
service and are also not expected to be utilized wholly within twelve
months after the end of such period, the benefit is classified as a long¬
term employee benefit. The Company records an obligation for such
compensated absences in the period in which the employee renders
the services that increase this entitlement. The obligation is measured
on the basis of independent actuarial valuation using the projected unit
credit method. Re measurements as a result of experience adjustments
and changes in actuarial assumptions are recognized in the profit or
loss.

o) Employee Stock Option Plan

The fair value of options granted under this option plan is recognised as
an employee benefit expense with corresponding increase in equity in
accordance with recognition and measurement principles as prescribed
in Ind AS 102 Share Based Payments when grant is made. The total
expense is recognised over the vesting period, which is the period over
which all of the specified vesting conditions are to be satisfied. At end
of the reporting period, the entity revises its estimates of the number of
options that are expected to vest based on the non-market vesting and
service conditions. It recognizes the impact of the revision to original
estimates, if any, in profit or loss, with corresponding adjustment to
equity.

p) Income taxes

Income tax expense comprises current and deferred income tax.

Income tax expense is recognized in the Standalone Statement of Profit
and Loss except to the extent that it relates to items recognized directly
in equity, in which case it is recognized in equity. Current income tax for
current and prior periods is recognized at the amount expected to be
paid to or recovered from the tax authorities, using the tax rates and tax
laws that have been enacted or substantively enacted by the Balance
Sheet date. Provision for income tax includes the impact of provisions
established for uncertain income tax positions.

Current tax assets and current tax liabilities are offset only if there is
a legally enforceable right to set off the recognised amounts, and it is
intended to realise the asset and settle the liability on a net basis or
simultaneously.

Deferred income tax assets and liabilities recognized for all temporary
differences arising between the tax bases of assets and liabilities and
their carrying amounts in the Standalone financial statements.

Deferred tax assets are reviewed at each reporting date and are reduced
to the extent that it is no longer probable that the related tax benefit
will be realized. Deferred income tax assets and liabilities are measured
using tax rates and tax laws that have been enacted or substantively
enacted by the balance sheet date and are expected to apply to taxable
income in the years in which those temporary differences are expected
to be recovered or settled.

Deferred tax assets and deferred tax liabilities are offset, if a legally
enforceable right exists to set off current tax assets against current tax
liabilities and the deferred taxes relate to the same taxable entity and
the same taxation authority.

The effect of changes in tax rates on deferred income tax assets and
liabilities is recognized as income or expense in the year that includes
the enactment or the substantive enactment date. A deferred income
tax asset is recognized to the extent that it is probable that future
taxable profit will be available against which the deductible temporary
differences and tax losses can be utilized.

q) Earnings per equity share

Basic EPS amounts are computed by dividing the net profit attributable
to the equity holders of the Company by the weighted average number
of equity shares outstanding during the year.

Diluted EPS amounts are computed by dividing the net profit
attributable to the equity holders of the Company by the weighted
average number of equity 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
(i.e. the average market value of the outstanding shares). Dilutive
potential equity shares are deemed converted as at the beginning of
the year, unless issued at a later date. Dilutive potential equity shares
are determined independently for each year presented.

r) Events after the reporting period

If the Company receives information after the reporting period, but
prior to the date when the financial statements are approved for issue,
about conditions that existed at the end of the reporting period, it will
assess whether the information affects the amounts that it recognises
in its standalone financial statements. The Company will adjust the
amounts recognised in its standalone financial statements to reflect any
adjusting events after the reporting period and update the disclosures
that relate to those conditions in light of the new information. For
non-adjusting events after the reporting period, the Company will not
change the amounts recognised in its standalone financial statements
but will disclose the nature of the non-adjusting event and an estimate
of its financial effect, or a statement that such an estimate cannot be
made, if applicable.

s) Statement of cashflows

Cash flow statement is prepared segregating the cash flows from
operating, investing and financing activities. Cash flows are reported
using the indirect method as per the requirements of Ind AS 7 (“Cash
flow statements”), whereby profit for the period is adjusted for the
effects of transactions of a non-cash nature, any deferrals or accruals
of past or future operating cash receipts or payments and item of
income or expenses associated with investing or financing cash flows.
The cashflows are segregated into and presented as cashflows from
operating, investing and financing activities.

2.3 New and amended standards adopted by Company

The Ministry of corporate Affairs (“MCA”) notified amendments on 7
May 2025 and 13 August 2025 under the Companies (Indian Accounting
Standards) Amendment Rules, 2025 and the Companies (Indian
Accounting Standards) Second Amendment Rules, 2025, respectively,
which is effective from annual reporting periods beginning on or after 1
April 2025.

a) Amendment to Ind AS 7 and Ind AS 107 - Supplier Finance
Arrangement:

The amendments to Ind AS 7 ‘Statement of Cash Flows’ and Ind AS 107
‘Financial Instruments: Disclosures’ clarify the characteristics of supplier
finance arrangements and require additional disclosures for such
arrangements. The disclosure requirements in the amendments are
intended to assist users of financial statements in understanding the
effects of supplier finance arrangements on an entity’s liabilities, cash
flows and exposure to liquidity risk.

The Company does not have any supplier finance arrangements during
the reporting period.

b) Amendment to Ind AS 1 - Classification of liabilities as current or
non-current and non-current liabilities with covenants:

The amendment specifies the requirements for classifying liabilities as
current or non-current in the balance sheet, and clarifies the following:

a) An entity’s right to defer settlement of a liability for at least twelve
months after the reporting period must have substance and must exist
at the end of the reporting period. The classification of a liability as
current or non-current is unaffected by the likelihood that the entity will
exercise its right to defer settlement.

b) If an entity’s right to defer settlement of a liability is subject to
covenants, such covenants affect whether that right exists at the end
of the reporting period only if the entity is required to comply with the
covenant on or before the end of the reporting period.

c) In case of a liability that can be settled, at the option of the counterparty,
by the transfer of the entity’s own equity instruments, such settlement
terms do not affect the classification of the liability as current or non¬
current only if the option is classified as an equity instrument.

These amendments have no effect on the measurement of any items in
the financial statements of the Company. The Company did not make
retrospective adjustments as a result of adopting the amendments to
Ind AS 1.

c) Amendment to Ind AS 12 - Pillar-Two Tax Reforms

The Company is not within the scope of the OECD Pillar Two Model
Rules, as Pillar Two legislation has not yet been enacted in any of the
jurisdiction in which the Company operates.

d) Amendment to Ind AS 21-Lack of exchangeability

The Amendments introduces requirement to assess when a currency is
exchangeable into another currency and when it is not. The amendment
requires an entity to estimate the spot exchange rate when it concludes
that a currency is not exchangeable into another currency. These
amendments had no effect on the financial statements of the Company.

The below amendments are notified but not yet effective

Amendment to Ind AS 1 ''Presentation of Financial Statements''-
Classification of Liabilities as current or non-current and non-current
liabilities with covenants:

The amendment includes specific provisions that will take effect for
reporting periods beginning on or after 1 April 2026, retrospectively, as
outlined below:

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

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

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

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

2.4 Critical accounting estimates and judgements

In the application of the Company accounting policies, the management
of the Company are required to make judgements, estimates and

assumptions about the carrying amounts of assets and liabilities
that are not readily apparent from other sources. The estimates and
associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from
these estimates.

The estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognised in the period in
which the estimate is revised if the revision affects only that period, or in
the period of the revision and future periods if the revision affects both
current and future periods.

The following are the areas of estimation uncertainty and critical
judgements that the management has made in the process of applying
the Company’s accounting policies and that have the most significant
effect on the amounts recognised in the financial statements: -

Recognition of internally generated intangible assets

The Company has various internally generated intangible assets
either capitalised or under development. Initial recognition of the
expenditure under these assets are based on assessing each asset in
relation to the specific recognition criteria to be met for capitalisation,
for e.g. technological and economic feasibility and the ability of the
asset to generate economic benefits in the future. This requires the
management’s judgement and assumptions, which are affected by
future market or economic developments. The Management periodically
reviews the assumptions and estimates underlying the recognition of
such assets, including expected future economic benefits and project
viability.

Useful lives of depreciable assets

Management reviews the useful lives of depreciable assets at each
reporting date. As at March 31, 2026, management assessed that the
useful lives represent the expected utility of the assets to the Group.
Further, there is no significant change in the useful lives as compared to
previous year.

Measurement of credit impairment

The measurement of impaired credit for trade receivables is ascertained
using the expected credit loss model (ECL) approach. Appropriate
measurement for expected credit loss has been made and provided
for in financial statements. The Company has also a made detailed
assessment of the recoverability and carrying value of trade receivables.
Based on current indicators of future economic conditions, the
Company expects to recover the carrying amount of these assets.

The Company will continue to closely monitor any material changes
arising of future economic conditions and impact on its collectability

Defined benefit plans (post-employment gratuity)

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

b) Nature of reserves:

i. Securities premium reserve: Securities premium reserve is used to record the premium on issue/Conversion of shares in excess of the par value (net of
utilisation). The reserve can be utilized only for limited purposes such as issuance of bonus shares and buyback of shares in accordance with the provisions of the
Companies Act, 2013.

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

iii. Capital redemption reserve: A statutory reserve created to the extent of sum equal to the nominal value of the share capital extinguished on buyback of
Company’s own shares.

iv. Employee stock options reserve: The share option outstanding account is used to record the value of equity-settled share based payment transactions with
employees. The amounts recorded in this account are transferred to securities premium reserve upon exercise of stock options by employees.

v. Surplus in the statement of profit and loss: This comprises of the amounts that can be distributed by the Company as dividends to its equity share holders
(net of dividend).

B. Fair value hierarchy

The fair value measurement of the Company’s financial and non-financial assets and liabilities utilises market observable inputs and data as far as possible.
Inputs used in determining fair value measurements are categorised into different levels based on how observable the inputs used in the valuation
technique utilised are (the ‘fair value hierarchy''):

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

Level 2: Observable direct or indirect inputs other than Level 1 inputs.

Level 3: Unobservable inputs (i.e. not derived from market data).

Financial risk management

The Company'' Board of Directors has overall responsibility for the establishment and oversight of the company'' risk management framework.

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

- Credit risk

- Liquidity risk

- Market risk

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and

The principal credit risk that the company is exposed to is non-collection of trade receivable and late collection of receivable and on unbilled revenue,
leading to credit loss. The risk is mitigated by reviewing credit worthiness of the prospective customers prior to entering into contract and post contracting,
through continuous monitoring of collections by a dedicated team. The company makes adequate provision for non-collection of trade receivable and
unbilled receivables.

In addition, trade receivable are due from the parties under normal course of the business and as such the company believes exposure to credit risk to be
minimal.

Trade receivables forms a significant part of the financial assets carried at amortised cost, which is valued considering provision for allowance using
expected credit loss method. Accounts receivables and unbilled receivables have been valued after making reserve for allowances based on factors like
ageing, likelihood of increased credit risk and expected realizability.

ii) Cash and cash equivalents and Other bank balances

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high ratings
assigned by international and domestic credit rating agencies and analyzing market information on a continuous and evolving basis. Ratings are monitored
periodically and the Company has considered the latest available credit ratings as well any other market information which may be relevant at the date of
approval of these financial statements.

iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The
Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to
specific industry sectors or specific country risks.The Company limits its exposure to credit risk by generally investing in liquid securities and only with
counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have
any significant concentration of exposures to specific industry sectors or specific country risks.

Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by
delivering cash or another financial asset. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability
of funding through an adequate amount of committed credit facilities. The Company’s approach to managing liquidity is to ensure, as far as possible, that
it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.

34. Employee benefitsi) Defined contribution plans

The Company makes contribution, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund,
which is a defined contribution plan. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognized as an
expense towards contribution to Provident Fund for the year ended March 31, 2026 and year ended March 31, 2025 aggregates to Rs.141 lakhs, and Rs. 172
lakhs respectively.

ii) Defined benefit plans

The Company has a defined benefit plan of gratuity. The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to
receive one-half month’s salary for each year of completed service. The gratuity plan of the Company are funded through Kotak life Insurance. The details
are as follows:

35. Employee Share-Based Payments

C.E. Info Systems Limited has a share based employee benefit program that allows employees to acquire shares of the Company. A share option scheme
for employees was approved in May 2007 by the shareholders of the Company under which the employees of the Company were granted stock options
that vest in a gradual manner over a period of 4 years. An exercise price of Rs. 81 was fixed for this purpose. Pursuant to Board and shareholders’ resolutions
passed on July 27, 2021 and July 29, 2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each and
after issue the bonus in the ratio of 1:3 pursuant to Board and shareholder’s passed on October 5, 2021 and October 7, 2021 respectively. As a result to this
split, the exercise price has been revised to Rs. 12.15.

The Company has provided share-based payment schemes to its employees. During the year ended March 31, 2026 and March 31, 2025 the following
scheme was in operation:

36. Segment Reporting

Ind AS 108 “Operating Segment” (“Ind AS 108”) establishes standards for the way that business enterprises reporting information about the operating
segment and related disclosure made by the Chief Operating Decision Maker (CODM).The Company is engaged in the business of digital map data,
GPS navigation and location-based services, and is in the business of licensing, selling and customizing its products to dealers and enterprises. The
CODM reviews these activities under the context of Ind AS 108 “Operating Segment” as one single primary segment to evaluate the overall performance
assessment of entity’s operating segment.

Further, the geographical segment which is based on the areas in which major operating divisions of the Company operates is presented in the Consolidated
financial statements as permitted under Ind AS 108 “Operating Segments”.

37. Leases
Company as a lessee

The Company’s significant leasing arrangements are in respect of leases for office spaces. These lease arrangement range between 2 to 8 years, which
include both cancellable and non-cancellable leases. Most of the leases are renewable for future period on mutually agreed terms and also include
escalation clause.

49. Significant Events after the Reporting Period

The Company evaluates events and transactions that occur subsequent to financial statements date but prior to issue of financial statements to determine
the necessity for recognition and/or reporting of any of these events and transactions in financial statements. ‘Up to the date of signing of the financial
statements’ there were no subsequent events to be recognised or reported in these financial statements.

50. The Company has used an accounting software for maintaining its books of account (managed and maintained by a third-party software service provider),
which has a feature of recording the audit trail (edit log) facility, which has a feature of recording audit trail (edit log) facility and the same has been operated
throughout the year for all relevant transactions recorded in the software except that the management is unable to assess audit trail at database level due
to absence of SOC report. Further, where enabled, the audit trail feature has operated for the relevant transactions recorded in the accounting software
and there were no instances of the audit trail feature being tampered with. Additionally, the audit trail of prior years has been preserved by the Company
as per the statutory requirements for record retention to the extent it was enabled and recorded in previous years.

With respect to software for managing payroll processing, which is managed and maintained by a third-party software service provider, in absence of
independent service auditors report, the management is unable to assess whether the software has a feature of recording audit trail (edit log) facility and
whether the same has operated throughout the year for all relevant transactions recorded in the software or whether there is any instance of audit trail
feature being tampered with.

51. Additional Information

(i) The Company does not have any Benami property. No proceedings have been initiated or are pending against the company for holding any benami
property.

(ii) The Company has no borrowings from bank or any other lenders on the basis of security of current assets or otherwise.

(iii) The Company does not have any transaction or balances outstanding with the companies struck off u/s 248 of the Companies Act, 2013.

(iv) The Company does not have any charges or satisfaction of which is yet to be registered with the Registrar of Companies beyond the statutory period.

(v) The Company has not traded or invested in crypto currency or virtual currency at any time during the year ended March 31, 2026.

(vi) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

(vii) The Company has not advanced or given any loan to any other person or invested funds in any entity including foreign entity (intermediaries) with the
understanding that the intermediary shall;

a) Directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary)
or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

(ix) The Company has no transactions 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 under any other relevant provisions of the Income Tax Act, 1961).

(x) The Company has complied with the number of layers prescribed under the Companies Act, 2013.

(xi) The Company has not entered into any scheme of arrangement which has an accounting impact in current or previous year.

(xii) There were no amounts which were required to be transferred to the Investor Education and Protection Fund of the Company.

(xiii) The Company does not have any sanctioned facility on the basis of security of the current assets. Hence, there is no requirement of filing periodic
returns.

(xiv) The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income
during the year (and previous 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).

(xv) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

52. The standalone financial statements of the Company for the year ended March 31, 2025 were audited by the erstwhile auditors of the Company who
expressed an unmodified opinion on those financial statements on May 9, 2025.

53. The figures have been rounded off to the nearest lakhs of rupees. The figure “0” wherever stated represents value less than Rs.50,000.

54. Previous year figures have been regrouped/ reclassified, where necessary, to conform to this year classification.

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Mar 31, 2025

(a) Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company had sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each. As a result to this split, the authorized equity shares capital of the company had increased from 4,500,000 Equity Shares of Rs. 10 each to 22,500,000 equity shares of Rs. 2 each.

(b) Further, pursuant to a resolution passed by the Shareholders of the Company on 29 July 2021 through extra-ordinary general meeting, the authorized share capital of the Company was increased by creation of additional 20,000,000 equity shares of INR 2 each.

(c) Further, pursuant to a resolution passed by the Shareholders of the Company on 07 October 2021 through extra-ordinary general meeting, the authorized share capital of the Company was increased by creation of additional 32,500,000 equity shares of INR 2 each.

Pursuant to Board and Shareholders’ resolutions dated September 17, 2021 and September 20, 2021, respectively, Company converted 4,054,969 outstanding Preference Shares into 20,274,845 Equity Shares. Accordingly, (i) 700,748 Series A Preference Shares, 938,326 Series B Preference Shares, 540,972 Series C Preference Shares, and 48,686 Series E Preference Shares collectively held by PhonePe were converted to 3,503,740 Equity Shares, 4,691,630 Equity Shares, 2,704,860 Equity Shares, and 243,430 Equity Shares, respectively; (ii) 677,031 Series C Preference Shares held by Qualcomm were converted to 3,385,155 Equity Shares; and (iii) 1,149,206 Series D Preference Shares held by Zenrin were converted to 5,746,030 Equity Shares. Upon conversion of the Preference Shares to the Equity Shares, pursuant to the Board resolution dated September 21, 2021, Company allotted 11,143,660 Equity Shares, 3,385,155 Equity Shares, and 5,746,030 Equity Shares, to PhonePe, Qualcomm, and Zenrin, respectively. Consequently, the issued and paid-up Equity Share capital of the Company increased from ^39,314,760 comprising 19,657,380 Equity Shares to ^79,864,450 comprising 39,932,225 Equity Shares and the issued and paid-up Preference Share capital of our Company became nil.

(i) Rights, preferences and restrictions attached to equity shares

The company has a single class of equity shares. Accordingly all equity shares rank equally with regard to dividends and shares in the company’s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder are in proportion to its share of the paid up equity capital of the company (on a fully diluted basis) Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

(ii) Rights, preferences and restrictions attached to Series A, Series B, Series C, Series D and Series E preference shares got extinguished on the company going in for an IPO which was successfully fully subscribed in the month of December 2021

(iv) Employee stock options

Terms attached to stock options granted to employees are described in note 33 regarding employee share based payments.

(v) The aggregate number of equity shares issued pursuant to contract, without payment being received in cash, in immediately preceding five years ended 31st March, 2025 - Nil (previous period of five years ended 31st March, 2024 - Nil)

(vi) The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding five years ended 31st March, 2025 are 1,33,10,742 shares of Rs. 2 each in FY 2021-22.

13.1 Distributions made and proposed

Dividends declared by the Company are based on the profit available for distribution.

The Board of Directors in its meeting held on 9th May, 2025 have proposed a final dividend of Rs 3.50 per equity share for the financial year ended 31st March, 2025 subject to the approval of shareholders at the Annual General Meeting and if approved, would result in a cash outflow of approxmately Rs. 19 crores in FY 2025-26

On 13th May, 2024, the Board of Directors of the Company had proposed a final dividend of Rs 3.50 per share in respect of the year ended 31st March, 2024 subject to the approval of shareholders at the Annual General Meeting. This dividend was approved on August 9, 2024 in the AGM and resulted into a cash outflow of Rs 19.04 crore.

Remaining performance obligations

Remaining performance obligations are subject to variability due to several factors such as terminations, changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to Remaining performance obligations is Rs. 1,49,100 Lakhs (last year 1,37,200 Lakhs ) out of which 20% (last Year 15%) is expected to be recognised as revenue in the next year and the balance thereafter. 13% out of performance obligations outstanding as on 31 March 2024 was recognised as revenue in the current financial year. No consideration from contracts with customers is excluded from the amount mentioned above.

Contract balances

Contract assets : A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are recognized where there is excess of revenue over the billings. Revenue recognized but not billed to customers is classified either as contract assets or unbilled receivable in our balance sheet.

Unbilled receivables represent contracts where right to consideration is unconditional (i.e. only the passage of time is required before the payment is due). Out of Rs. 2,024 lakhs and Rs 1,061 lakhs of contract assets as on 31st March 2025 and 31st March 2024 respectively, 100% pertain to respective years.

Contract liabilities : A contract liability arises when there is excess billing over the revenue recognized.

The Fair value of cash and cash equivalents, other bank balances, trade receivables, trade payables approximated their carrying value largely due to short term maturities of these instruments.

B. Fair value hierarchy

Ind AS 107, ‘Financial Instrument - Disclosure’ requires classification of the valuation method of financial instruments measured at fair value in the Balance Sheet, using a three level fair-value-hierarchy (which reflects the significance of inputs used in the measurements). The hierarchy gives the highest priority to un-adjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to un-observable inputs (Level 3 measurements). The three levels of the fair-value-hierarchy under Ind AS 107 are described below:

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

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are directly or indirectly observable in active markets.

Level 3: Valuations derived from valuation techniques, in which one or more significant inputs are unobservable inputs which are supported by little or no market activity.

Assets measured using level 1 inputs primarily include investment securities in mutual funds and the fair value being marked to an active market, we do not expect material volatility in these financial assets.

Assets and liabilities measured using level 2 inputs includes financial assets measured at amortised cost which includes Trade receivables, cash and cash equivalents, government bonds with corporations and deposits with banks have been assessed basis counterparty credit risk.

Financial risk management

The Company’ Board of Directors has overall responsibility for the establishment and oversight of the company’ risk management framework.

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

- Credit risk

- Liquidity risk

- Market risk

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade and other receivables and cash and cash equivalents. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

The principal credit risk that the company is exposed to is non-collection of trade receivable and late collection of receivable and on unbilled revenue, leading to credit loss. The risk is mitigated by reviewing credit worthiness of the prospective customers prior to entering into contract and post contracting, through continuous monitoring of collections by a dedicated team. The company makes adequate provision for non-collection of trade receivable and unbilled receivables.

In addition, trade receivable are due from the parties under normal course of the business and as such the company believes exposure to credit risk to be minimal.

Trade receivables forms a significant part of the financial assets carried at amortised cost, which is valued considering provision for allowance using expected credit loss method. Accounts receivables and unbilled receivables have been valued after making reserve for allowances based on factors like ageing, likelihood of increased credit risk and expected realizability.

ii) Cash and cash equivalents and Other bank balances

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high ratings assigned by international and domestic credit rating agencies and analyzing market information on a continuous and evolving basis. Ratings are monitored periodically and the Company has considered the latest available credit ratings as well any other market information which may be relevant at the date of approval of these financial statements.

iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.

Market risk:

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk. The objective of market risk management is to avoid excessive exposure in foreign currency revenues and costs.

a) Foreign currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company has foreign currency trade payables and receivables and is therefore exposed to foreign exchange risk.

Exposure to currency risk (Exposure in different currencies converted to functional currency i.e. INR)

The currency profile of financial assets and financial liabilities as at 31st March 2025 and 31st March 2024 are as below:

D) The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through payment. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2025, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2024: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

E) As at 31st March, 2025, the Company has not granted any loans to the promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person (31st March, 2024: Nil).

F) The Company has provided security in the form of fixed deposit for overdraft & cash credit facility to it''s subsidiary "Gtropy Systems Private Limited". (refer Note 45)

G) Transactions with related parties are reported Net of Goods and Service Tax 32 Employee benefits

i) Defined contribution plans

The Company makes contribution, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund, which is a defined contribution plan. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognized as an expense towards contribution to Provident Fund for the year ended 31st March 2025 and year ended 31 March 2024 aggregates to Rs.172 lakhs, and Rs. 155 lakhs respectively.

ii) Defined benefit plans

The Company has a defined benefit plan of gratuity. The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive one-half month’s salary for each year of completed service. The gratuity plan of the Company are funded through Kotak life Insurance. The compensated absences policy of the Company entitles an employee to encash actual earned leaves subject to maximum 18 days at the time of retirement/ exit from the Company. The details are as follows:

33 Employee Share-Based Payments

C.E. Info Systems Limited has a share based employee benefit program that allows employees to acquire shares of the Company. A share option scheme for employees was approved in May 2007 by the shareholders of the Company under which the employees of the Company were granted stock options that vest in a gradual manner over a period of 4 years. An exercise price of Rs. 81 was fixed for this purpose. Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each and after issue the bonus in the ratio of 1:3 pursuant to Board and shareholder''s passed on October 5, 2021 and October 7, 2021 respectively. As a result to this split, the exercise price has been revised to Rs. 12.15.

i. Options have been valued based on fair value method as prescribed under Ind AS 102, share based payments, using Black Scholes valuation option pricing model by using the fair value of the Company''s securities on the grant date (Assumptions : Risk free rate in the range of 7.27 % to 7.33 % , dividend yield 0.13% , Volatility rate 38.74 %).

ii. Stock options exercised twice during the year on the share price of Rs. 2,182 & Rs.1,641 per share respectively (previous year Rs. 1,484 & Rs.2,207.60 per share).

34 Segment Reporting

Ind AS 108 “Operating Segment” (“Ind AS 108”) establishes standards for the way that business enterprises reporting information about the operating segment and related disclosure made by the Chief Operating Decision Maker (CODM).The Company is engaged in the business of digital map data, GPS navigation and location-based services, and is in the business of licensing, selling and customizing its products to dealers and enterprises. The CODM reviews these activities under the context of Ind AS 108 "Operating Segment" as one single primary segment to evaluate the overall performance assessment of entity’s operating segment.

35 Leases Company as a lessee

The Company’s significant leasing arrangements are in respect of leases for office spaces. These lease arrangement range between 2 to 8 years, which include both cancellable and non-cancellable leases. Most of the leases are renewable for future period on mutually agreed terms and also include escalation clause.

The Company has applied following practical expedients:

(1) Applied a single discount rate to a portfolio of leases with reasonably similar characteristics.

(2) Applied the exemption not to recognise right-of-use-assets and liabilities for leases with less than 12 months of lease term on the date of transition.

(3) The Weighted Average Incremental Borrowing Rate considered for lease liabilities recognized as at 01st April 2018 is 11.25 %.

The Company has also applied recognition exemptions of short-term leases to all categories of underlying assets.

The cumulative effect on transition (i.e. difference between ROU and Lease liabilities) for standalone financial information as at 01 April 2018 has been adjusted from retained earnings. The right-of-use assets and lease liabilities are presented separately on the face of Balance Sheet.

On application of Ind AS 116, the nature of expenses has changed from lease rent in previous periods to depreciation cost for the right-to-use asset, and finance cost for interest accrued on lease liability. The principal portion of the lease payments have been disclosed under cash flows from financing activities. The lease payments for operating leases as per Ind AS 116 - Leases, were earlier reported under cash flows from operating activities.

45 Disclosure required under Section 186 (4) of the Companies Act, 2013.

The company has provided security to its subsidiary company “Gtropy Systems Private Limited” in the form of lien of its fixed deposits of Rs. 1,900 lakhs (last Yr. 1,500 lakhs) against which an overdraft & Cash credit facility has been provided by “Bank of India” to the said subsidiary. This facilty has been used wholly for working capital purposes.

46 Capital Management

The primary objective of the Company’s capital management is to support business continuity and growth of the company while maximizing the shareholder value. The Company determines the capital requirement based on annual operating plans, long-term and other strategic investment plans. The funding requirements are generally met through operating cash flows generated.

The Company is predominantly equity financed which is evident from the capital structure table. Further, the Company has always been a net cash Company with cash and bank balances along with investment which is predominantly investment in short term mutual funds and debt instruments being far in excess of debt. The Company is not subject to any externally imposed capital requirements.

47 Previous year figures have been regrouped/ reclassified, where necessary, to conform to this year classification.

48 The figures have been rounded off to the nearest lakhs of rupees. The figure “0” whereever stated represents value less than Rs.50,000.

49 Significant Events after the Reporting Period

The Company has entered into an agreement for sale of one of its commercial property bearing Nos. JA0919-920, 9th Floor, DLF Tower A, Jasola, New Delhi, on 4th March 2025, for a total consideration of Rs. 449.54 lakhs. against which an advance of Rs. 45.40 lakhs was received during FY 2024-25. The sale transaction was completed on 24th April 2025 upon registration of the sale deed and receipt of the balance amount.

50 The Company has used accounting software for maintaining its books of account which have a feature of recording audit trail(edit log) facility that have operated throughout the financial year for all relevant transactions. There was no instance of audit trail feature being tampered with for the period the audit trail was enabled. The audit trail, where enabled, has been preserved as per the statutory requirements.

51 Additional Information

Other statutory information

I. Details of Benami property

The company does not have any Benami property. No proceedings have been initiated or are pending against the company for holding any benami property.

II. Utilisation of borrowed funds

The company has no borrowings from bank or any other lenders on the basis of security of current assets or otherwise.

III. Transaction with struck companies

The company does not have any transaction or balances outstanding with the companies struck off u/s 248 of the Companies Act, 2013.

IV. Registration of Charge with ROC

The company does not have any charges or satisfaction of which is yet to be registered with the Registrar of Companies beyond the statutory period.

V. Details of crypto currency or virtual currency:

The company has not traded or invested in crypto currency or virtual currency at any time during the year ended March 2025.

VI. Details of financial default:

The company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

VII. Details of Loans and advances (given):

The company has not advanced or given any loan to any other person or invested funds in any entity including foreign entity (intermediaries) with the understanding that the intermediary shall;

a) Directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

VIII. Details of Loans and advances (taken):

The company has not received any fund from any person or entity including foreign entity (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:

a) Directly or indirectly lend or invest in any other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

IX. Undisclosed income:

The company has no transactions 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 under any other relevant provisions of the Income Tax Act, 1961).

X. Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

XI. Compliance with approved scheme(s) of arrangements:

The Company has not entered into any scheme of arrangement which has an accounting impact in current or previous financial year.

52 Note No.1 to 52 form integral part of the Standalone Balance Sheet and Standalone of Profit and Loss.

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Mar 31, 2024

*During the previous year, the useful life of IOT devices on rent was reviewed by the management and decided to change it from 2 years to 3 years. Therefore the excess depreciation of Rs. 44 lakhs charged on them upto 31-03-2022 was adjusted in arriving at the figure of depreciation for that year and their written down value stands increased by that amount as on 31-03-2022.

#As per the lease agreement with lessee, all the operating expenses such as water, electricity, maintenance and minor repairs are to be born by the lessee till it is occupied by it. Such expenses are borne by the Company for the year such properties are not tenanted Also, during the year, there were no major repair and maintenance expenses on such properties.

Fair value hierarchy

The fair value of investment property has been determined by external, independent property valuers, having appropriate recognised professional qualifications and recent experience in the location and category of the property being valued. The Company has no restrictions on the realisability of its investment property and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.

Company''s investment property consist of two commercial properties in New Delhi. As at 31 March 2024. The properties were valued at Rs. 382 lakhs and Rs. 508 lakhs each, totalling to Rs. 890 lakhs as at 31 March 2024 (Previous year Rs. 382 lakhs and Rs. 503 lakhs each, totalling to Rs. 885 lakhs).

Valuation technique

The valuation methodologies used by the Company for fair valuation of investment property are direct comparison approach. In the direct comparison approach, the subject property is compared to similar properties that have actually been sold on arms-length transactions or are offered for sale.

(i) Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company had sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each. As a result to this split, the authorized equity shares capital of the company had increased from 4,500,000 Equity Shares of Rs. 10 each to 22,500,000 equity shares of Rs. 2 each.

(ii) Further, pursuant to a resolution passed by the Shareholders of the Company on 29 July 2021 through extra-ordinary general meeting, the authorized share capital of the Company was increased by creation of additional 20,000,000 equity shares of INR 2 each.

(iii) Further, pursuant to a resolution passed by the Shareholders of the Company on 07 October 2021 through extra-ordinary general meeting, the authorized share capital of the Company was increased by creation of additional 32,500,000 equity shares of INR 2 each.

** Pursuant to Board and Shareholders’ resolutions dated September 17, 2021 and September 20, 2021, respectively, Company converted 4,054,969 outstanding Preference Shares into 20,274,845 Equity Shares. Accordingly, (i) 700,748 Series A Preference Shares, 938,326 Series B Preference Shares, 540,972 Series C Preference Shares, and 48,686 Series E Preference Shares collectively held by PhonePe were converted to 3,503,740 Equity Shares, 4,691,630 Equity Shares, 2,704,860 Equity Shares, and 243,430 Equity Shares, respectively; (ii) 677,031 Series C Preference Shares held by Qualcomm were converted to 3,385,155 Equity Shares; and (iii) 1,149,206 Series D Preference Shares held by Zenrin were converted to 5,746,030 Equity Shares. Upon conversion of the Preference Shares to the Equity Shares, pursuant to the Board resolution dated September 21, 2021, Company allotted 11,143,660 Equity Shares, 3,385,155 Equity Shares, and 5,746,030 Equity Shares, to PhonePe, Qualcomm, and Zenrin, respectively. Consequently, the issued and paid-up Equity Share capital of the Company increased from ^39,314,760 comprising 19,657,380 Equity Shares to ^79,864,450 comprising 39,932,225 Equity Shares and the issued and paid-up Preference Share capital of our Company became nil.

(iv) Employee stock options

Terms attached to stock options granted to employees are described in note 33 regarding employee share based payments.

(v) The aggregate number of equity shares issued pursuant to contract, without payment being received in cash, in immediately preceding five years ended March 31, 2024 - Nil (previous period of five years ended March 31, 2023 - Nil)

(vi) The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding five years ended March 31, 2024 are 1,33,10,742 shares of Rs. 2 each in FY 2021-22.

(i) Rights, preferences and restrictions attached to equity shares

The company has a single class of equity shares. Accordingly all equity shares rank equally with regard to dividends and shares in the company''s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder are in proportion to its share of the paid up equity capital of the company (on a fully diluted basis). Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held."

(ii) Rights, preferences and restrictions attached to Series A, Series B, Series C, Series D and Series E preference shares got extinguished on the company going in for an IPO which was successfully fully subscribed in the month of December 2021.

13.1 Distributions made and proposed

Dividends declared by the Company are based on the profit available for distribution.

The Board of Directors in its meeting held on May 13, 2024 have proposed a final dividend of Rs 3.50 per equity share for the financial year ended March 31, 2024 subject to the approval of shareholders at the Annual General Meeting and if approved, would result in a cash outflow of approxmately Rs. 19 crores in FY 2024-25

On April 22, 2023, the Board of Directors of the Company had proposed a final dividend of Rs 3 per share in respect of the year ended March 31, 2023 which was approved by the shareholders at the Annual General Meeting held on September 1, 2023. It was distributed to the shareholder within the time prescribed under the law.

Remaining performance obligations

Remaining performance obligations are subject to variability due to several factors such as terminations, changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to Remaining performance obligations is Rs. 1,37,200 Lakhs (last year 91,400 Lakhs ) out of which 15% (last Year 23.80%) is expected to be recognised as revenue in the next year and the balance thereafter. 19% out of performance obligations outstanding as on 31 March 2023 was recognised as revenue in the current financial year. No consideration from contracts with customers is excluded from the amount mentioned above.

Contract balances

Contract assets : A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are recognized where there is excess of revenue over the billings. Revenue recognized but not billed to customers is classified either as contract assets or unbilled revenue in our balance sheet.

Unbilled revenue represent contracts where right to consideration is unconditional (i.e. only the passage of time is required before the payment is due). Out of Rs. 1,061 lakhs and Rs 1,436 lakhs of contract assets as on 31 March 2024 and 31 March 2023 respectively, 100% pertain to respective years.

Contract Liabilites/deferred revenue : A contract liability arises when there is excess billing over the revenue recognized.

The below table discloses the movement in the balance of contract liabilities/ deferred revenue :

The Fair value of cash and cash equivalents, other bank balances, trade receivables, trade payables approximated their carrying value largely due to short term maturities of these instruments.

B. Fair value hierarchy

Ind AS 107, ‘Financial Instrument - Disclosure’ requires classification of the valuation method of financial instruments measured at fair value in the Balance Sheet, using a three level fair-value-hierarchy (which reflects the significance of inputs used in the measurements). The hierarchy gives the highest priority to un-adjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to un-observable inputs (Level 3 measurements). The three levels of the fair-value-hierarchy under Ind AS 107 are described below:

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

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are directly or indirectly observable in active markets.

Level 3: Valuations derived from valuation techniques, in which one or more significant inputs are unobservable inputs which are supported by little or no market activity.

Assets measured using level 1 inputs primarily include investment securities in mutual funds and the fair value being marked to an active market, we do not expect material volatility in these financial assets.

Assets and liabilities measured using level 2 inputs includes financial assets measured at amortised cost which includes Trade receivables, cash and cash equivalents, government bonds with corporations and deposits with banks have been assessed basis counterparty credit risk.

Financial risk management

The Company’ Board of Directors has overall responsibility for the establishment and oversight of the company’ risk management framework.

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

- Credit risk

- Liquidity risk

- Market risk

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade and other receivables and cash and cash equivalents. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.

The principal credit risk that the company is exposed to is non-collection of trade receivable and late collection of receivable and on unbilled revenue, leading to credit loss. The risk is mitigated by reviewing credit worthiness of the prospective customers prior to entering into contract and post contracting, through continuous monitoring of collections by a dedicated team. The company makes adequate provision for non-collection of trade receivable and unbilled receivables.

In addition, trade receivable are due from the parties under normal course of the business and as such the company believes exposure to credit risk to be minimal.

Trade receivables forms a significant part of the financial assets carried at amortised cost, which is valued considering provision for allowance using expected credit loss method. Accounts receivables and unbilled receivables have been valued after making reserve for allowances based on factors like ageing, likelihood of increased credit risk and expected realizability.

ii) Cash and cash equivalents and Other bank balances

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high ratings assigned by international and domestic credit rating agencies and analyzing market information on a continuous and evolving basis. Ratings are monitored periodically and the Company has considered the latest available credit ratings as well any other market information which may be relevant at the date of approval of these financial statements.

iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

The outflows disclosed in the above table represent the total contractual undiscounted cash flows and total interest payable on borrowings

Market risk:

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk. The objective of market risk management is to avoid excessive exposure in foreign currency revenues and costs.

a) Foreign currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company has foreign currency trade payables and receivables and is therefore exposed to foreign exchange risk.

d) The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through payment. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2024, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2023: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

e) As at March 31, 2024, the Company has not granted any loans to the promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person (March 31, 2023: Nil).

f) The Company has provided security in the form of fixed deposit for overdraft & cash credit facility to it''s subsidiary "Gtropy Systems Private Limited". (refer Note 45)

g) Transactions with related parties are reported Net of Goods and Service Tax

32 Employee benefits

i) Defined contribution plans

The Company makes contribution, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund, which is a defined contribution plan. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognized as an expense towards contribution to Provident Fund for the year ended 31 March 2024 and year ended 31 March 2023 aggregates to Rs.155 lakhs, and Rs. 139 lakhs respectively.

ii) Defined benefit plans

The Company has a defined benefit plan of gratuity. The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive one-half month’s salary for each year of completed service. The gratuity plan of the Company are funded through Kotak life Insurance. The compensated absences policy of the Company entitles an employee to encash actual earned leaves subject to maximum 18 days at the time of retirement/exit from the Company. The details are as follows:

33 Employee share-based payments

C.E. Info Systems Limited has a share based employee benefit program that allows employees to acquire shares of the Company. A share option scheme for employees was approved in May 2007 by the shareholders of the Company under which the employees of the Company were granted stock options that vest in a gradual manner over a period of 4 years. An exercise price of Rs. 81 was fixed for this purpose. Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each and after issue the bonus in the ratio of 1:3 pursuant to Board and shareholder''s passed on October 5, 2021 and October 7, 2021 respectively. As a result to this split, the exercise price has been revised to Rs. 12.15.

The Company has provided share-based payment schemes to its employees. During the year ended 31 March 2024 and 31 March 2023 the following scheme was in operation:

i. Options have been valued based on fair value method as prescribed under Ind AS 102, share based payments, using Black Scholes valuation option pricing model by using the fair value of the Company''s securities on the grant date (Assumptions : Risk free rate in the range of 7.27 % to 7.33 % , dividend yield 0.13% , Volatility rate 38.74 %)..

ii. Stock options exercised twice during the year and weighted average share price per share are Rs. 1,484 & Rs.2,207.60 respectively (previous year Rs.1324.08 per share).

34 Segment reporting

Ind AS 108 "Operating Segment” ("Ind AS 108”)establishes standards for the way that business enterprises reporting information about the operating segment and related disclosure made by the Chief Operating Decision Maker (CODM).The Company is engaged in the business of digital map data, GPS navigation and location-based services, and is in the business

of licensing, selling and customizing its products to dealers and enterprises. The CODM reviews these activities under the context of Ind AS 108 "Operating Segment" as one single primary segment to evaluate the overall performance assessment of entity’s operating segment.

35 Leases

Company as a lessee

The Company’s significant leasing arrangements are in respect of leases for office spaces. These lease arrangement range between 2 to 8 years, which include both cancellable and non-cancellable leases. Most of the leases are renewable for future period on mutually agreed terms and also include escalation clause.

The Company has applied following practical expedients:

(1) Applied a single discount rate to a portfolio of leases with reasonably similar characteristics.

(2) Applied the exemption not to recognise right-of-use-assets and liabilities for leases with less than 12 months of lease term on the date of transition.

(3) The Weighted Average Incremental Borrowing Rate considered for lease liabilities recognized as at 01st April 2018 is 11.25 %.

The Company has also applied recognition exemptions of short-term leases to all categories of underlying assets.

The cumulative effect on transition (i.e. difference between ROU and Lease liabilities) for standalone financial information as at 01 April 2018 has been adjusted from retained earnings. The right-of-use assets and lease liabilities are presented separately on the face of Balance Sheet.

On application of Ind AS 116, the nature of expenses has changed from lease rent in previous periods to depreciation cost for the right-to-use asset, and finance cost for interest accrued on lease liability. The principal portion of the lease payments have been disclosed under cash flows from financing activities. The lease payments for operating leases as per Ind AS 116 - Leases, were earlier reported under cash flows from operating activities.

36 Contingent liabilities

i. Bank guarantees of Rs.2,036 (last year Rs 1,480 lakhs) was outstanding at the end of current financial year. These are given in the normal course of the Company’s operations and are not expected to result in any loss to the Company on the basis of the Company fulfilling its business obligations. However an additional bank guarantee of Rs. 740 lakhs was given to Bombay Stock Exchange in the year 2021-22 in connection with offer for sale IPO which was to be returned to the company after successful settlement of all claims of the vendors in connection with the IPO. The said guarantee of Rs. 740 lakhs is still outstanding as on 31-03-2024 for want of settlement of all claims.

ii. The company has provided security to its subsidiary company "Gtropy Systems Private Limited” in the form of lien of its fixed deposits of Rs. 1,500 lakhs against which an overdraft and cash credit facility has been provided by "Bank of India” to the said subsidiary.

iii. The Company had received an income tax order u/s 143(3) dated 23 Feb 2016 issued by the Assessing Officer, in respect of Assessment Year 2013-14 (previous year 2012-13), wherein an amount of Rs. 3 lakhs, being advance tax , was wrongly written off by the company under the head "other expenses”. This amount was rightly disallowed and added back to the income of the company for that year. Income tax on the above Rs. 3 lakhs and also the additional tax of Rs.0.8 lakhs was determined as recoverable from the company.The Company believes that the above tax demand would get adjusted out of the refund of Rs. 4 lakhs due to the company from the tax department for A.Y. 2013-14.

iv. On February 28,2019, a ruling of the Supreme Court of India interpreting certain statutory defined contribution obligations of employees and employers (the "India Defined Contribution Obligation”) altered historical understandings of such obligations, extending them to cover additional portions of the employee’s income. It is not currently clear whether the interpretation set out in the pronouncement has retrospective application. If applied retrospectively, the interpretation would result in an increase in contributions payable by the Company for past and future periods for certain of its India-based employees.

Also, there is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables such as, the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Due to such challenges and a lack of interpretive guidance, and based on management’s internal assessment, it is currently impracticable to reliably estimate the timing and amount of any payments the Company may be required to make. The Company anticipates, that the Indian government will review the matter and believe there is a substantial question as to whether the Indian government will apply the Supreme Court’s ruling on a retroactive basis. Accordingly, the Company is yet to obtain further clarity and will evaluate the amount of a potential provision, if any.

v. The company was served with a notice by the Income Tax Department in June 2021 u/s 148 of the Income Tax Act initiating re- assessment proceedings to assess the difference between the amount received from Flipkart Pvt. Ltd., Singapore in Financial Year 2015-16 relevant to A.Y.2016-17 towards allotment of Preference shares of the Company , vis a vis the fair market value of company''s shares determined by a valuer for Flipkart Pvt. Ltd. in the Financial year 2020-21, as Income escaping assessment. The said proceedings initiated by the tax department are under a stay granted by the Hon''ble Delhi High Court.

Since the Company is confident of defending its position that the said amount received was against allotment of preference Shares only based on the fair market value of those shares then and other legal safeguards available to it, no liability as a result of the said proceeding, is expected to arise on it and therefore, no liability needs to be provided against it.

41 The Code on Social Security, 2020 (the Code) has been enacted, which would impact the contributions by the Company

towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. The Ministry of Labour and Employment (the Ministry) has released draft rules for the Code on November 13, 2020. The Company will complete its evaluation and will give appropriate impact in its financial statements in the period in which the Code becomes effective and the related rules are published.

42 Dues to micro and small enterprises:

The information as required to be disclosed pursuant under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) has been determined to the extent such parties have been identified based on the information available with the Company :

The Company is predominantly equity financed which is evident from the capital structure table. Further, the Company has always been a net cash Company with cash and bank balances along with investment which is predominantly investment in short term mutual funds and debt instruments being far in excess of debt. The Company is not subject to any externally imposed capital requirements.

47 Previous year figures have been regrouped/ reclassified, where necessary, to conform to this year classification.

48 The figures have been rounded off to the nearest lakhs of rupees. The figure "0" whereever stated represents value less than Rs. 50,000.

49 Significant Events after the Reporting Period

There were no significant adjusting events that occurred subsequent to the reporting period other than the events disclosed in the relevant notes.

50 Additional Information

Other statutory information

I. Details of Benami property

The company does not have any Benami property. No proceedings have been initiated or are pending against the company for holding any benami property.

II. Utilisation of borrowed funds

The company has no borrowings from bank or any other lenders on the basis of security of current assets or otherwise.

III. Transaction with struck companies

The company does not have any transaction or balances outstanding with the companies struck off u/s 248 of the Companies Act, 2013

IV. Registration of Charge with ROC

The company does not have any charges or satisfaction of which is yet to be registered with the Registrar of Companies beyond the statutory period.

V. Details of crypto currency or virtual currency:

The company has not traded or invested in crypto currency or virtual currency at any time during the period half year ended March 2024.

VI. Details of financial default:

The company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

VII. Details of Loans and advances (given):

The company has not advanced or loaned or invested funds to any other person or entity including foreign entity (intermediaries) with the understanding that the intermediary shall

a) Directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

VIII. Details of Loans and advances (taken):

The company has not received any fund from any person or entity including foreign entity (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:

a) Directly or indirectly lend or invest in any other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

IX. Undisclosed income:

The company has no transactions 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 under any other relevant provisions of the Income Tax Act, 1961).

X. Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

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Mar 31, 2023

#As per the lease agreement with lessee, all the operating expenses such as water, electricity, maintenance and minor repairs are to be born by the lessee till it is occupied by it. Such expenses are borne by the Company for the period such properties are not tenanted. Also, during the year, there were no major repair and maintenance expenses on such properties.

Fair value hierarchy

The fair value of investment property has been determined by external, independent property valuers, having appropriate recognised professional qualifications and recent experience in the location and category of the property being valued. The Company has no restrictions on the realisability of its investment property and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.

Company''s investment property consist of two commercial properties in New Delhi as at 31 March 2023. The properties were valued at Rs. 382 lakhs and Rs. 503 lakhs each, totalling to Rs. 885 lakhs as at 31 March 2023 (Previous year Rs. 360 lakhs and Rs. 465 lakhs each, totalling to Rs. 825 lakhs).

*a) Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company had sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each. As a result to this split, the authorized equity shares capital of the company had increased from 4,500,000 Equity Shares of Rs. 10 each to

22.500.000 equity shares of Rs. 2 each.

b) Further, pursuant to a resolution passed by the Shareholders of the Company on 29 July 2021 through extraordinary general meeting, the authorized share capital of the Company was increased by creation of additional 20,000,000 equity shares of INR 2 each.

c) Further, pursuant to a resolution passed by the Shareholders of the Company on 07 October 2021 through extraordinary general meeting, the authorized share capital of the Company was increased by creation of additional

32.500.000 equity shares of INR 2 each.

Pursuant to Board and Shareholders’ resolutions dated September 17, 2021 and September 20, 2021, respectively, Company converted 4,054,969 outstanding Preference Shares into 20,274,845 Equity Shares. Accordingly, (i) 700,748 Series A Preference Shares, 938,326 Series B Preference Shares, 540,972 Series C Preference Shares, and 48,686 Series E Preference Shares collectively held by PhonePe were converted to 3,503,740 Equity Shares, 4,691,630 Equity Shares, 2,704,860 Equity Shares, and 243,430 Equity Shares, respectively; (ii) 677,031 Series C Preference Shares held by Qualcomm were converted to 3,385,155 Equity Shares; and (iii) 1,149,206 Series D Preference Shares held by Zenrin were converted to 5,746,030 Equity Shares. Upon conversion of the Preference Shares to the Equity Shares, pursuant to the Board resolution dated September 21, 2021, Company allotted 11,143,660 Equity Shares, 3,385,155 Equity Shares, and 5,746,030 Equity Shares, to PhonePe, Qualcomm, and Zenrin, respectively. Consequently, the issued and paid-up Equity Share capital of the Company increased from ^39,314,760 comprising 19,657,380 Equity Shares to ^79,864,450 comprising 39,932,225 Equity Shares and the issued and paid-up Preference Share capital of our Company became nil.

a) Rights, preferences and restrictions attached to equity shares

The company has a single class of equity shares. Accordingly all equity shares rank equally with regard to dividends and shares in the company''s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder are in proportion to its share of the paid up equity capital of the company (on a fully diluted basis). Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

b) Rights, preferences and restrictions attached to Series A, Series B, Series C, Series D and Series E preference shares got extinguished on the company going in for an IPO which was successfully fully subscribed in the month of December 2021.

d) Employee stock options

Terms attached to stock options granted to employees are described in note 31 regarding employee share based payments.

Capital management

The primary objective of the Company’s capital management is to support business continuity and growth of the

company while maximizing the shareholder value. The Company determines the capital requirement based on annual operating plans, long-term and other strategic investment plans. The funding requirements are generally met through operating cash flows generated.

e) The aggregate number of equity shares issued pursuant to contract, without payment being received in cash in immediately preceding five years ended March 31, 2023 - Nil (previous period of five years ended March 31, 2022 - Nil)

f) The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding five years ended March 31, 2023 are 1,33,10,742 shares of Rs. 2 each in FY 2021-22.

13.1 Distributions made and proposed

The Board of Directors at its meeting held on February 4, 2022 had recommended interim dividend (Rs 2 per equity share of par value Rs 2 each) for the financial year ended March 31, 2022 . The aforesaid dividend was paid during the year ended March 31, 2022. The same was treated as final dividend for the year ended March 31, 2022.

Dividends declared by the Company are based on the profit available for distribution. On April 22, 2023, the Board of Directors of the Company have proposed a final dividend of Rs 3 per share in respect of the year ended March 31, 2023 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash outflow of approximately Rs 16 crore.

Remaining performance obligations

Remaining performance obligations are subject to variability due to several factors such as terminations, changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to Remaining performance obligations is 91,400 Lakhs (last year 69,958 Lakhs ) out of which 23.80 % (last year 24%) is expected to be recognised as revenue in the next year and the balance thereafter. 20.72 % out of performance obligations outstanding as on 31 March 2022 was recognised as revenue in the current financial year. No consideration from contracts with customers is excluded from the amount mentioned above.

Contract balances

Contract assets : A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are recognized where there is excess of revenue over the billings. Revenue recognized but not billed to customers is classified either as contract assets or unbilled receivable in our balance sheet.

Unbilled receivables represent contracts where right to consideration is unconditional (i.e. only the passage of time is required before the payment is due). Out of Rs. 1,436 lakhs and Rs 1,095 lakhs of contract assets as on 31 March 2023 and 31 March 2022 respectively, 100% pertain to respective years.

Contract liabilities : A contract liability arises when there is excess billing over the revenue recognized.

The Company earns revenue primarily from licensing and sale of Map data and Map data related services (i.e. GPS navigation and location-based services) primarily for corporate business entities. We foresee that our revenue and deferred revenue would be mildly impacted in the short term due to COVID -19. However, in long-term, we believe that our business model remains robust and sustainable. The impact assessment of COVID-19 is an ongoing process due to the high degree of uncertainty associated and our assertions might change in future due to this.

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are directly or indirectly observable in active markets.

Level 3: Valuations derived from valuation techniques, in which one or more significant inputs are unobservable inputs which are supported by little or no market activity.

Assets measured using level 1 inputs primarily include investment securities in mutual funds and the fair value being marked to an active market which factors the impact of COVID-19, we do not expect material volatility in these financial assets.

Assets and liabilities measured using level 2 inputs includes financial assets measured at amortised cost which includes Trade receivables, cash and cash equivalents, government bonds with corporations and deposits with banks have been assessed basis counterparty credit risk.

Financial risk management

The Company’ Board of Directors has overall responsibility for the establishment and oversight of the company’ risk management framework

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

- Credit risk

- Liquidity risk

- Market risk

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade and other receivables and cash and cash equivalents. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

The Fair value of cash and cash equivalents, other bank balances, trade receivables, trade payables approximated their carrying value largely due to short term maturities of these instruments.

The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amount of assets and liabilities. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of the pandemic, the Company, as at the date of approval of the Standalone financial statement has used internal and external sources of information.

B. Fair value hierarchy

Ind AS 107, ‘Financial Instrument - Disclosure’ requires classification of the valuation method of financial instruments measured at fair value in the Balance Sheet, using a three level fair-value-hierarchy (which reflects the significance of inputs used in the measurements). The hierarchy gives the highest priority to un-adjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to un-observable inputs (Level 3 measurements). The three levels of the fair-value-hierarchy under Ind AS 107 are described below:

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

The principal credit risk that the company exposed to is non-collection of trade receivable and late collection of receivable and on unbilled revenue leading to credit loss. The risk is mitigated by reviewing creditworthiness of the prospective customers prior to entering into contract and post contracting, through continuous monitoring of collections by a dedicated team. The company makes adequate provision for non-collection of trade receivable and unbilled receivables.

In addition trade receivable are due from the parties under normal course of the business and as such the company believes exposure to credit risk to be minimal.

Trade receivables forms a significant part of the financial assets carried at amortised cost, which is valued considering provision for allowance using expected credit loss method. Accounts receivables and unbilled receivables have been

valued after making reserve for allowances based on factors like ageing, likelihood of increased credit risk and expected realizability considering impact of COVID - 19 on customers.

ii) Cash and cash equivalents and Other bank balances

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high ratings assigned by international and domestic credit rating agencies and analyzing market information on a continuous and evolving basis. Ratings are monitored periodically and the Company has considered the latest available credit ratings as well any other market information which may be relevant at the date of approval of these financial statements.

iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counterparties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.

Market risk:

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk. The objective of market risk management is to avoid excessive exposure in foreign currency revenues and costs.

a) Foreign currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company has foreign currency trade payables and receivables and is therefore exposed to foreign exchange risk.

d) The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through payment. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2023, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (March 31, 2022: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

e) As at March 31, 2023, the Company has not granted any loans to the promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person (March 31, 2022: Nil).

f) The Company has provided security for overdraft facility to it''s subsidiary ""Gtropy Systems Private Limited"". (refer Note 44)

g) Transactions with related parties are reported net of Goods and Service Tax.

30 Employee benefits

i) Defined contribution plans

The Company makes contribution, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund, which is a defined contribution plan. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognized as an expense towards contribution to Provident Fund for the year ended 31 March 2023 and year ended 31 March 2022 aggregates to Rs.139 lakhs, and Rs. 118 lakhs respectively.

ii) Defined benefit plans

The Company has a defined benefit plan of gratuity. The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive one-half month’s salary for each year of completed service. The gratuity

plan of the Company are funded through Kotak life Insurance. The compensated absences policy of the Company entitles an employee to encash actual earned leaves subject to maximum 18 days at the time of retirement/exit from the Company. The details are as follows:

31 Employee share-based payments

C.E. Info Systems Limited has a share based employee benefit program that allows employees to acquire shares of the Company. A share option scheme for employees was approved in May 2007 by the shareholders of the Company under which the employees of the Company were granted stock options that vest in a gradual manner over a period of 4 years. An exercise price of Rs. 81 was fixed for this purpose. Pursuant to Board and shareholders'' resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each and after issue the bonus in the ratio of 1:3 pursuant to Board and shareholder''s passed on October 5, 2021 and October 7, 2021 respectively. As a result to this split, the exercise price has been revised to Rs. 12.15.

The Company has provided share-based payment schemes to its employees. During the year ended 31 March 2023 and 31 March 2022 the following scheme was in operation:

i. Options have been valued based on fair value method as prescribed under Ind AS 102, share based payments, using Black Scholes valuation option pricing model by using the fair value of the Company''s securities on the grant date and assumptions.

ii. Weighted average share price at the date of exercise for stock options exercised during the year is Rs.1324.08 per share (previous year Rs.NIL per share)

32 Segment reporting

Ind AS 108 “Operating Segment” (“Ind AS 108”)establishes standards for the way that business enterprises reporting information about the operating segment and related disclosure made by the Chief Operating Decision Maker (CODM).The Group is engaged in the business of digital map data, GPS navigation and location-based services, and is in the business of licensing, selling and customizing its products to dealers and enterprises. The CODM reviews these activities under the context of Ind AS 108 "Operating Segment" as one single primary segment to evaluate the overall performance assessment of entity’s operating segment.

33 Leases Company as a lessee

The Company’s significant leasing arrangements are in respect of leases for office spaces. These lease arrangement range between 2 to 8 years, which include both cancellable and non-cancellable leases. Most of the lease are renewable for future period on mutually agreed terms and also include escalation clause

The Company has applied following practical expedients:

(1) Applied a single discount rate to a portfolio of leases with reasonably similar characteristics.

(2) Applied the exemption not to recognise right-of-use-assets and liabilities for leases with less than 12 months of lease term on the date of transition.

(3) The Weighted Average Incremental Borrowing Rate considered for lease liabilities recognized as at 01st April 2018 is 11.25 %.

The Company has also applied recognition exemptions of short-term leases to all categories of underlying assets.

The cumulative effect on transition (i.e. difference between ROU and Lease liabilities) for standalone financial information as at 01 April 2018 has been adjusted from retained earnings. The right-of-use assets and lease liabilities are presented separately on the face of Balance Sheet.

On application of Ind AS 116, the nature of expenses has changed from lease rent in previous periods to depreciation cost for the right-to-use asset, and finance cost for interest accrued on lease liability. The principal portion of the lease payments have been disclosed under cash flows from financing activities. The lease payments for operating leases as per Ind AS 116 - Leases, were earlier reported under cash flows from operating activities.

Certain lease agreements include options to terminate or extend the leases. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Most of the leases entered by the Company are long term in nature and the underlying leased properties are being used as offices.

The Company doesn’t foresee any major changes in lease terms or the leases in the foreseeable future as per current business projections after considering the impact of COVID - 19.

The lease rental expense relating to short-term leases recognized in the statement of profit and loss for the year amounted to Rs.25 lakhs and Rs. 33 lakhs for the period ended and year ended 31 March 2023 and year ended 31 March 2022 respectievly.

During the year ended 31 March 2023 the company benefited from temporary lease reductions amounting to Nil (previous year Rs. 43 lakhs) which have been recogonised as income in the same period.

34 Contingent liabilities

i. Bank guarantees of Rs. 1,480 lakhs (last year Rs 410 lakhs) was outstanding at the year end. These are given in the normal course of the Company’s operations and are not expected to result in any loss to the Company, on the basis of the Company fulfilling its business obligations. However a bank guarantee of Rs. 740 lakhs was given to Bombay Stock Exchange for offer for sale IPO which will be returned to the company after successful settlement of the claims of the vendors in connection with the IPO (Not included in normal course of bank guarantee of Rs. 1,480 lakhs).

ii. The company has provided security to its subsidiary company “Gtropy Systems Private Limited” in the form of pledge of its fixed deposits of Rs. 1,744 lakhs against which an overdraft facility of Rs. 1,500 lakhs has been provided by “Bank of India” to the said subsidiary.

iii. The Company had received an income tax order u/s 143(3) dated 23 Feb 2016 issued by the Assessing Officer, in respect of Assessment Year 2013-14 (previous year 2012-13), wherein an amount of Rs. 3 lakhs, being advance tax , was wrongly written off by the company under the head “other expenses”. This amount was rightly disallowed and added back to the income of the company for that year. Income tax on the above Rs. 3 lakhs and also the additional tax of Rs.0.8 lakhs was determined as recoverable from the company.The Company believes that the above tax demand would get adjusted out of the refund of Rs. 4 lakhs due to the company from the tax department for A.Y. 2013-14.

iv. On February 28, 2019, a ruling of the Supreme Court of India interpreting certain statutory defined contribution obligations of employees and employers (the “India Defined Contribution Obligation”) altered historical understandings of such obligations, extending them to cover additional portions of the employee’s income. It is not currently clear whether the interpretation set out in the pronouncement has retrospective application. If applied retrospectively, the interpretation would result in an increase in contributions payable by the Company for past and future periods for certain of its India-based employees.

Also, there is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables such as, the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Due to such challenges and a lack of interpretive guidance, and based on management’s internal assessment, it is currently impracticable to reliably estimate the timing and amount of any payments the Company may be required to make. The Company anticipates, that the Indian government will review the matter and believe there is a substantial question as to whether the Indian government will apply the Supreme Court’s ruling on a retroactive basis. Accordingly, the Company is yet to obtain further clarity and will evaluate the amount of a potential provision, if any.

v. The company was served with a notice by the Income Tax Department in June 2021 u/s 148 of the Income Tax Act initiating proceedings to assess the amount received from Flipkart Pvt. Ltd. Singapore in Financial Year 2015-16 relevant to A.Y.2016-17 towards allotment of Preference shares of the Company, as Income of the Company. The Company''s WRIT against the said notice was allowed by the Hon'' ble Delhi High Court and the said notice was quashed. However, the Hon''ble Supreme Court, invoking its special powers, has revived the said proceedings, subject to certain conditions. Since the Company is confident of defending its position that the said amount received was against allotment of preference Shares only based on the fair market value of those shares then and other legal safeguards available to it, no liability as a result of the said proceeding, is expected to arise on it and therefore, no liability needs to be provided against it.

39 The Code on Social Security, 2020 (the Code) has been enacted, which would impact the contributions by the Company towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. The Ministry of Labour and Employment (the Ministry) has released draft rules for the Code on November 13, 2020. The Company will complete its evaluation and will give appropriate impact in its financial statements in the period in which the Code becomes effective and the related rules are published.

1) Methodlogy of calculating ratios for the following has been changed during the year for meaningfull presentation.

a) Trade receivable ratio :- Average trade receivables during the year has been considered instead of closing trade receivables adopted in previous financial year.

b) Trade payable ratio :- Average trade payables during the year has been considered instead of closing trade payables adopted in previous financial year.

2) The Company has no borrowings as at 31 March 2023, therefore debt equity ratio and debt service coverage ratio are not given. Further, lease liability on long term leases is not considered as a part of borrowings.

3) Adjusted capital employed = Total Assets - Current liab (Except Proposed dividend) - Investment (Note-5) - bank depost (incl. accured interest)- cash and cash equivalents.

42 Under an agreement with BRLMs and selling Shareholders, as part of the Offer for Sale IPO, Company had opened an Escrow Bank account with ICICI Bank for handling all IPO related proceeds and disbursements.

As on the date of the Financial Statements, the balance in the said Escrow Bank Account was Rs. 550 lakhs which is kept for final payment of BRLM fee to JM Finance Limited.

44 Disclosure required under Section 186 (4) of the Companies Act, 2013.

The company has provided security to its subsidiary company “Gtropy Systems Private Limited” in the form of pledge of its fixed deposits of Rs. 1,744 lakhs against which an overdraft facility of Rs. 1,500 lakhs has been provided by“Bank of India” to the said subsidiary. This facilty has been used wholly for working capital purposes.

45 Previous year figures have been regrouped/ reclassified, where necessary, to conform to this year classification.

46 The figures have been rounded off to the nearest lakhs of rupees. The figure "0" wherever stated represents value less than 50,000/-

47 Significant Events after the Reporting Period

There were no significant adjusting events that occurred subsequent to the reporting period other than the events disclosed in the relevant notes.

48 Additional Information

Other statutory information

I. Details of Benami property :-

The company does not have any Benami property where any proceedings has been initiated or pending against the company for holding any benami property.

II. Utilisation of borrowed funds

The company has no borrowings from bank on the basis of scrutiny of current assets

III. Transaction with struck companies

The company does not have transactions or balances outstanding with the companies struck off u/s 248 of the Companies Act, 2013

IV. Registration of Charge with ROC

The company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies beyond the reporting period.

V. Details of crypto currency or virtual currency:

The company has not traded or invested in crypto currency or virtual currency during the financial year

VI. Details of financial default:

The company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

VII. Details of Loans and advances (given):

The company has not advanced or loaned or invested funds to any other person or entity including foreign entity (intermediaries) with the understanding that the intermediary shall

a) Directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

VIII. Details of Loans and advances (taken):

The company has not received any fund from any person or entity including foreign entity (funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:

a) Directly or indirectly lend or investment in any other person or entity identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or

b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

IX. Undisclosed income:

The company has no transactions 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).

X. Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

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Mar 31, 2022

*IPO expenses recoverable represents the money collected in the offer for sale IPO to the extent not yet recovered by the company from the Escrow account for want of necessery settlement of all claims of the vendors

Under an agreement with BRLMs and selling Shareholders, as part of the Offer for Sale IPO, Company had opened an Escrow Bank account with ICICI Bank for handling all IPO related proceeds and disbursements.

As on the date of the Financial Statements, the balance in the said Escrow Bank Account was Rs. 2,040.44 lakhs which is kept for settlement of all the remaining IPO related claims of the vendors. On complete settlement of all related claims, the amount of Rs.385.25 lakhs due to the company would get released to it. The balance in the said account and the related liabilities, are, therefore excluded from being reflected in the financial statement by the Company as its assets and liabilities.

*

(a) Pursuant to Board and shareholders¹ resolutions passed on July 27, 2021 and July 29, 2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each. As a result to this split, the authorized equity shares capital of the company has increased from 4,500,000 Equity Shares of Rs. 10 each to 22,500,000 equity shares of Rs. 2 each.

(b) Further, pursuant to a resolution passed by the Shareholders of the Company on 29 July 2021 through extraordinary general meeting, the authorized share capital of the Company was increased by creation of additional 20,000,000 equity shares of Rs. 2 each.

(c) Further, pursuant to a resolution passed by the Shareholders of the Company on 07 October 2021 through extraordinary general meeting, the authorized share capital of the Company was increased by creation of additional 32,500,000 equity shares of Rs. 2 each.

**

Pursuant to Board and Shareholders'' resolutions dated September 17, 2021 and September 20, 2021, respectively, Company converted 4,054,969 outstanding Preference Shares into 20,274,845 Equity Shares. Accordingly, (i) 700,748 Series A Preference Shares, 938,326 Series B Preference Shares, 540,972 Series C Preference Shares, and 48,686 Series E Preference Shares collectively held by PhonePe were converted to 3,503,740 Equity Shares, 4,691,630 Equity Shares, 2,704,860 Equity Shares, and 243,430 Equity Shares, respectively; (ii) 677,031 Series C Preference Shares held by Qualcomm were converted to 3,385,155 Equity Shares; and (iii) 1,149,206 Series D Preference Shares held by Zenrin were converted to 5,746,030 Equity Shares. Upon conversion of the Preference Shares to the Equity Shares, pursuant to the Board resolution dated September 21, 2021, Company allotted 11,143,660 Equity Shares, 3,385,155 Equity Shares, and 5,746,030 Equity Shares, to PhonePe, Qualcomm, and Zenrin, respectively. Consequently, the issued and paid-up Equity Share capital of the Company increased from Rs. 393.14 lakhs comprising 19,657,380 Equity Shares to Rs.798.64 lakhs comprising 39,932,225 Equity Shares and the issued and paid-up Preference Share capital of our Company became nil.

(a) Rights, preferences and restrictions attached to equity shares

The company has a single class of equity shares. Accordingly all equity shares rank equally with regard to dividends and shares in the company''s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder are in proportion to its share of the paid up equity capital of the company (on a fully diluted basis). Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid.

On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

(b) Rights, preferences and restrictions attached to Series A, Series B, Series C, Series D and Series E preference shares got extinguished on the company going in for an IPO which was successfully fully subscribed in the month of December 2021.

*after split of equity shares of Rs. 10 each into of Rs. 2 each in July 2021 and issue of bonus shares in the ratio of 1:3 and after participation in the offer for sale in the IPO

** after split of equity shares of Rs. 10 each into of Rs. 2 each in July 2021 and issue of bonus shares in the ratio of 1:3 and after purchase of equity shares from Zenrin, Qualcomm & PhonePe (the then investors).

(d) Employee stock options

Terms attached to stock options granted to employees are described in note 34 regarding employee share based payments.

Capital management

Theprimary objective of the Company''scapitalmanagement is to support businesscontinuity andgrowthof thecompany while maximizingtheshareholder value. The Company determines the capital requirement based on annual operating plans, long-term and other strategic investment plans. The funding requirements are generally met through operating cash flows generated.

13.1Distributionsmadeand proposed

The Board of Directors at its meeting held on February 4, 2022 had recommended interim dividend (Rs 2 per equity share of par value Rs 2 each) for the financial year ended March 31,2022. The aforesaid dividend was paid during the year ended March 31, 2022. The same has been treated as final dividend for the year ended March 31, 2022.

Remaining performance obligations

Remaining performance obligations are subject to variability due to several factors such as terminations, changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to Remaining performance obligations is 69,958 Lakhs (last year 37,748 Lakhs ) out of which 24% is expected to be recognised as revenue in the next year and the balance thereafter. 21.55 % out of performance obligations outstanding as on 31 March 2021 was recognised as revenue inthecurrent financial year. No consideration from contracts with customers is excludedfrom theamount mentioned above.

Contract balances

Contract assets : A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are recognized where there is excess of revenue over the billings. Revenue recognized but not billed to customers is classified either as contract assets or unbilled receivable in our balance sheet.

Unbilled receivables represent contracts where right to consideration is unconditional (i.e. only the passage of time is required before the payment is due). Out of Rs. 883 lakhs and Rs 771 lakhs of contract assets as on 31 March 2022 and 31 March 2021 respectively, 100% pertain to respective years.

Contract liabilities : A contract liability arises when there is excess billing over the revenue recognized.

The Company earns revenue primarily from licensing and sale of Map data andMap datarelated services (i.e. GPS navigation and location-based services) primarily for corporate business entities. We foresee that our revenue and deferred revenue would be mildly impacted in the short term due to COVID -19. However, in long-term, we believe that our business model remains robust and sustainable. The impact assessment of COVID-19 is an ongoing process due to the high degree of uncertainty associated and our assertions might change in future due to this.

31 Financial instruments - Fair values

A. Accounting classification and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

The Fair value of cash and cash equivalents, other bank balances, trade receivables, trade payables approximated their carrying value largely due to short term maturities of these instruments.

The Group has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amount of assets and liabilities. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of the pandemic, the Company, as at the date of approval of the Restated consolidated financial information has used internal and external sources of information. The impact of COVID-19 on the Group''s Restated consolidated financial information may differ from the estimated as at the date of approval of these Restated consolidated financial information.

B. Fair value hierarchy

Ind AS 107, ‘Financial Instrument - Disclosure'' requires classification of the valuation method of financial instruments measured at fair value in the Balance Sheet, using a three level fair-value-hierarchy (which reflects the significance of inputs used in the measurements). The hierarchy gives the highest priority to un-adjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to un-observable inputs (Level 3 measurements). The three levels of the fair-value-hierarchy under Ind AS 107 are described below:

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

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are directly or indirectly observable in active markets.

Level 3: Valuations derived from valuation techniques, in which one or more significant inputs are unobservable inputs which are supported by little or no market activity.

Assetsmeasured using level 1 inputs primarily includeinvestment securities in mutualfundsand the fair value being marked to an active market which factors the impact of COVID-19,we do not expect material volatility in these financial assets.

Assets and liabilities measured using level 2 inputs includes financial assets measured at amortised cost which includes Trade receivables, cash and cash equivalents, government bonds with corporations and deposits with banks have been assessed basis counterparty credit risk.

Financial risk management

The Company'' Board of Directors has overall responsibility for the establishment and oversight of the company'' risk management framework.

The Company'' Board of Directors has overall responsibility for the establishment and oversight of the company'' risk management framework.

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

- Credit risk

- Liquidity risk

- Market risk

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s trade and other receivables and cash and cash equivalents. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

Trade receivables forms a significant part of the financial assets carried at amortised cost, which is valuedconsidering provision for allowance usingexpected credit loss method.Accounts recdivableeand unbilled receivables havebeee valued efter making reserve for allowanc es based on factors like ageing, likelihood of increased credit risk and expected realizability considering impact of COVID - 19 on customers.

(ii) Cash and cash equivalents and Other bank balances

The cash and cash equivalents and other bank balances are basis the credit ratings of the banks. The client monitors changes in credit risk by tracking Published External Data.

(iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter-parties, and does not have any significant concentration of exposures to specific industry sectors or specific country risks.

(iv) Loans

Loans in the form of security deposit pertains to rent deposit given to lessors, deposits against performance guarantees and tender deposits.

Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.

* Includes future cash outflow towards estimated interest on borrowings and lease liabilities. Refer Note 35

The outflows disclosed in the above table represent the total contractual undiscounted cash flows and total interest payable on borrowings

Market risk:

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices -will affect the Company''s income or the value of its holdings of financial instruments. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk. The objective of market risk management is to avoid excessive exposure in foreign currency revenues and costs.

(a) Foreign currency risk

Currencyriskisthe risk that the fairvalueorfuture cash flows of a financial instrument will fluctuatebecause of changes in foreignexchangerates. Tire Company has foreigncurrencytrade payables and receivables and is therefore exposed to foreign exchange risk.

Exposure to turruxty risk (Exposure ix different turruxtius coxvurtut to functional turruxty

i.u. INR)

The currency profile of financial assets and financial liabilities as at 31 March 2022 and 31 March 2021 are as below:

33 Employee benefits

(i) Defined contribution plans

The Company makes contribution, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund, which is a defined contribution plan. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognized as an expense towards contribution to Provident Fund for the year ended 31 March 2022 and year ended 31 March 2021 aggregates to Rs. 118.38 lakhs, and Rs. 98.49 lakhs respectively.

(ii) Defined benefit plans

The Company has a defined benefit plan of gratuity. The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive one-half month''s salary for each year of completed service. The gratuity plan of the Company are funded through Kotak life Insurance. The compensated absences policy of the Company entitles an employee to encash actual earned leaves subject to maximum 18 days at the time of retirement/exit from the Company. The details are as follows:

34 Employee Share Based Payments

C.E Info Systems Limited has a share based employee benefit program that allows employees to acquire shares of the Company. A share option scheme for employees was approved in May 2007 by the shareholders of the Company under which the employees of the Company were granted stock options that vest in a granted manner over a period of 4years. An exercise price of Rs. 81 was fixed for this purpose. Pursuant to Board and shareholders'' resolutions passed on July 27,2021 and July 29,2021 respectively, the Company has sub-divided the face value of its equity shares from Rs. 10 each to Rs. 2 each and after issue the bonus in the ratio of 1:3 pursuant to Board and shareholder''s passed on October 5, 2021 and October 7, 2021 respectively. As a result to this split, the exercise price has been revised to Rs.12.15.

Options have been valued based on fair value method as prescribed under Ind AS 102, share based payments, using Black Scholes valuation option pricing model by using the fair value of the Company''s securities on the grant date and assumptions. Weighted average assumptions across grants are : Risk free rate (6.02 %), expected life (8 years), expected volatility (32.92%), expected dividends (nil), price per underlying security (Rs. 94.39)

35 Segment reporting

Ind AS 108 “Operating Segment” (“Ind AS 108”)establishes standards for the way that business enterprises reporting information about the operating segment and related disclosure made by the Chief Operating Decision Maker (CODM).The Group is engaged in the business of digital map data, GPS navigation and location-based services, and is in the business of licensing, selling and customizing its products to dealers and enterprises. The CODM reviews these activities under the context of Ind AS 108 "Operating Segment" as one single primary segment to evaluate the overall performance assessment of entity''s operating segment.

36 Leases

Company as a lessee

The Company''s significant leasing arrangements are in respect of leases for office spaces. These lease arrangement range between 2 to 8 years, which include both cancellable and non-cancellable leases. Most of the lease are renewable for future period on mutually agreed terms and also include escalation clause.

The Company has applied following practical expedients:

(1) Applied a single discount rate to a portfolio of leases with reasonably similar characteristics.

(2) Applied the exemption not to recognise right-of-use-assets and liabilities for leases with less than 12 months of lease term on the date oftransition.

(3) The Weighted Average Incremental Borrowing Rate considered for lease liabilities recognized as at OlstApril 2018 isll.25 %.

The Company has also applied recognition exemptions of short-term leases to all categories of underlying assets.

The cumulative effect on transition (i.e. difference between ROU and Lease liabilities) for standalone financial information as at 01 April 2018 has been adjusted from retained earnings. The right-of-use assets and lease liabilities are presented separately on the face of Balance Sheet.

On application of Ind AS 116, the nature of expenses has changed from lease rent in previous

periods to depreciation cost for the right-to-use asset, and finance cost for interest

accrued on lease liability. The principal portion of the lease payments have been disclosed under

cash flows from financing activities. The lease payments for operating leases

as per Ind AS 17 - Leases, were earlier reported under cash flows from operating activities.

The lease rental expense relating to short-term leases recognized in the statement of profit and loss for the year amounted to Rs. 63 lakhs and Rs. 56 lakhs for the period ended and year ended 31 March 2022 and year ended 31 March 2021 respectievly.

During the year ended 31 March 2022 and 31 March 2021, the company benefited from temporary lease reductions amounting to Rs. 42.75 lakhs and Rs. 73.03 lakhs which have been recogonised as income in the same period.

Certain lease agreements include options to terminate or extend the leases. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Most of the leases entered by the Company are long term in nature and the underlying leased properties are being used as offices. The Company doesn''t foresee any major changes in lease terms or the leases in the foreseeable future as per current business projections after considering the impact ofCOVID -19.

37 Contingent liabilities

i. Bank guarantees of Rs. 410 lakhs (last year Rs. 357 lakhs)was outstanding at the year end. These are given in the normal course of the Company''s operations and are not expected to result in any loss to the Company, on the basis of the Company fulfilling its business obligations. However a bank guarantee of Rs. 740 lakhs was given to Bombay Stock Exchange for offer for sale IPO which will be returned to the company after successful settlement of the claims of the vendors in connection with the IPO.

ii. The Group had received an income tax order u/s 143(3) dated 23 Feb 2016 issued by the Assessing Officer, in respect of Assessment Year 2013-14 (previous year 2012-13), wherein during the assessment proceedings it was noticed that advance tax written off of Rs. 3 lakhs under the head “other expenses” was disallowed and added back to the computation of income. Also, the tax officer has determined additional tax liability of Rs. 0.8 lakhs. The Company believes that the outcome in respect of the above matter will be adjusted with the refund amount of Rs. 4 lakhs from department for the A.Y. 2013-2014.

iii. On February 28, 2019, a ruling of the Supreme Court of India interpreting certain statutory defined contribution obligations of employees and employers (the “India Defined Contribution Obligation”) altered historical understandings of such obligations, extending them to cover additional portions ofthe employee''s income. It is not currently clear whether the interpretation set out in the pronouncement has retrospective application. If applied retrospectively, the interpretation would result in an increase in contributions payable by the Company for past and future periodsforcertain ofits India-based employees.

Also, there is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables such as, the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Due to such challenges and a lack of interpretive guidance, and based on management''s internal assessment, it is currently impracticable to reliably estimate the timing and amount of any payments the Company may be required to make. The Company anticipates, that the Indian government will review the matter and believe there is a substantial question as to whether the Indian government will apply the Supreme Court''s ruling on a retroactive basis. Accordingly, the Company is yet to obtain further clarity and will evaluate the amount of a potential provision, if any.

iv.The company was served with a notice by the IncomeTax Department in June2021 u/sl48 of the Income Tax Act initiating proceedings to assess the amount received from Flipkart Pvt. Ltd. Singapore in Financial Year 2015-16 relevant to A.Y.2016-17 towards allotment of Preference shares of the Company, as Income of the Company. The Company''s WRIT against the said notice was allowed by the Hon''ble Delhi High Court and the said notice was quashed. However, the Hon''ble Supreme Court, invoking its special powers, has revived the said proceedings, subject to certain conditions. Since the Company is confident of defending its position that the said amount received was against allotment of preference Shares only based on the fair market value of those shares then and other legal safeguards available to it, no liability as a result of the said proceeding, is expected to arise on it and therefore, no liability needs to be provided against it.

40 Corporate social responsibility expenditure

The Company has spent Rs. 102.48 lakhs (previousyear: Rs. 96.51 lakhs) towards various schemes of Corporate Social Responsibility as prescribed under section 135 of the Companies Act, 2013. The details are:

41 The Code on Social Security, 2020 (the Code) has been enacted, which would impact the contributions by the Company towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. The Ministry of Labour and Employment (the Ministry) has released draft rules for the Code on November 13, 2020. The Company will complete its evaluation and will give appropriate impact in its financial statements in the period in which the Code becomes effective and the related rules are published.

(2) The Company''s inventory is used for providing services also. Therefore Inventory turnover ratio as a %age of goods sold cannot be presented seperately.

44 Under an agreement with BRLMs and selling Shareholders, as part of the Offer for Sale IPO, Company had opened an Escrow Bank account with ICICI Bank for handling all IPO related proceeds and disbursements.

As on the date of the Financial Statements, the balance in the said Escrow Bank Account was Rs. 2,040.00 lakhs which is kept for settlement of all the remaining IPO related claims ofthe vendors. On complete settlement of all related claims, the amount of Rs. 385.25 lakhs due to the company would get released to it. The balance in the said account and the related liabilities, are, therefore excluded from being reflected in the financial statement by the Company as its assets and liabilities.

45 Previous year figures have been regrouped/reclassified, where necessary, to conform to this year classification.