Confidence Futuristic Energetech Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2025

M) Provisions and Contingent Liabilities / Assets

Provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that
an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation.

Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the
Balance Sheet date.

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 withinthe control of the Company.

Contingent assets are not recognised or accounted.

N) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief
operating decision maker. The chief operational decision maker monitors the operating results of its business
Segments separately for the purpose of making decision about the resources allocation and performance
assessment. Segment performance is evaluated based on the profit or loss and is measured consistently with
profit or loss in the financial statements. The operating segments have been identified on the basis of the nature of
products/ services.

3. Significant accounting judgments, estimates and assumptions

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal
the actual results. Management also needs to exercise judgment in applying the Company''s accounting policies.

The estimates and judgments involve a higher degree of judgment or complexity, and of items which are more likely to be
materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed
information about each of these estimates and judgments is included in relevant notes together with information about
the basis of calculation for each affected line item in the financial statements.

Critical estimates and judgments

The areas involving critical estimates or judgments are:

- Estimation of current tax expense and payable

- Estimation of defined benefit obligation

- Recognition of revenue

- Recognition of deferred tax assets for carried forward tax losses

- Impairment of trade receivables and other financial assets

1) Loans are non-derivative financial assets which generate a fixed interest income for the Company. The carrying value may
be affected by changes in the credit risk of the counterparties.

2) Non-Current loans to related parties pertain to funds advanced for business purpose. The management does not intend to
recover the same in next year, these loans carry an interest at the rate of - 7% per annum.

3) Amount due by directors or other officers of the company or any of them either severally or jointly with any other persons
or amounts due by firms or private companies respectively in which any director is a partner or a director or a member
for the FY 2023-24 is INR 5848 lacs, for FY 2024-25 is INR 6515 lacs.

4) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the
understanding (whether recorded in writing or otherwise) that the Intermediaries shall, whether, directly or indirectly
lend or invest in other persons / entities identified in any manner whatsoever by or on behalf of the Company (''Ultimate
Beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

5) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party")
with the understanding (whether recorded in writing or otherwise) that the Company shall directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate Beneficiaries); or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

6) Additional disclosures related to Loans given to related party that are: (a) repayable on demand; and (b) without
specifying any terms or period of repayment.

Notes

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

i) Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of 5per share. Each holder of equity
shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing
Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled
to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the shareholders.

Note 30 Financial Risk Management

The Company''s activities expose it to the following risks:

A. Credit Risk

B. Liquidity Risk

C. Market Risk

A. Credit Risk

Credit Risk is the risk that counter party will not meet its obligations under a financial instruments or customer contract
leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables
and unbilled revenue) and from its financing and investments activities including deposits with banks and financial
institutions, investments, and other financial instruments.

i. Trade receivables

Credit risk is managed by each business unit subject to the Company''s established policy, procedures and control
relating to customer credit risk management. Outstanding customer receivables are regularly monitored.

The impairment analysis is performed at each reporting date on an individual basis for clients. The maximum
exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company
doesnot hold collateral as security.

B. Liquidity Risk

Liquidity is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a
reasonable price. The Company''s treasury department is responsible for liquidity, funding as well as settlement
management. In addition, processes and policies related to such risks are overseen by senior management. Management
monitors the Company''s net liquidity position through rolling forecasts on the basis of expected cash flows.

The Company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from
operations. The Company believes that the cash and cash equivalents is sufficient to meet its current requirements.
Accordingly, no liquidityrisk is perceived.

C. Market Risk

Foreign exchange rates

The Company does not have balances in foreign currency and consequently the Company is not exposed to foreign
exchange risk. The exchange rate between the rupee and foreign currencies has changed substantially in recent years,
which has affected the results of the Company, and may fluctuate substantially in the future. The Company evaluates
exchange rate exposure arising from foreign currency transactions and follows established risk management policies.
Interest rate

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in
market interest rates. The Company''s borrowings are short term / working capital in nature and hence is not exposed to
significant interest rate risk.

Note 31 Capital Risk Management

The Company''s objectives when managing capital are to safeguard their ability to continue as a going concern, so that they can
continue to provide returns for shareholders and benefits for other stakeholders and maintain an optimal capital structure to
reduce the cost of capital.

Note 35 Fair Value Measurement

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be
exchanged in acurrent transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair values:

Fair value of cash and short-term deposits, trade and other short-term receivables, trade payables, other current liabilities,
short term loans from banks and other financial institutions approximate their carrying amounts largely due to short term
maturities ofthese instruments.

The Financial Instruments are categorized in two level based on the inputs used to arrive at fair value measurement as described
below

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

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either
directly orindirectly.

Note 36 Other Statutory Information:

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

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

(iii) The company does not have pending charges yet to be registered with the ROC beyond the statutory period.

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year for the year ended
March 31, 2025

(v) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
company (Ultimate Beneficiaries) or

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

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or

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

(vii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961).

(viii) The Company has not been declared as Wilful defaulter by any Banks, Financial institution or other lenders.

Note 37 New and amended standards

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2025, MCA has notified new standards or
amendments to the existing standards applicable to the Company
IND AS 103 Business Combination,

IND AS 105 Non current assets held for sale and discontinued operation ,

IND AS 107 financial instrument disclosure .

IND AS 109 Financial instruments ,

IND AS 115 Revenue from contracts with customer to align them with IND AS 117 and IND AS 116 Lease liability in a sale and lease
back.

The company has reviewed the new pronouncements and based on its evaluations has determined that these amendments son not
have a significant impact on the companies financial statements

see accompanying notes to the financial statements

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

CONFIDENCE FUTURISTIC ENERGETECH LIMITED For L N J & Associates For Koshal & Associates.

CIN - L74110MH1985PLC386541 Chartered Accountants Chartered Accountants

FRN 135772W FRN 121233W

NITIN KHARA SARVESH KHARA PRITY BHABHRA

Managing Director Director Company SUMIT V LAHOTI Koshal Maheshwari

& ^CEO & ^CFO S^ecretary & ^C0 p_art_ner Proprietor

DIN 01670977 DIN 06938709 M No. A52365 Membership No. Membership No.

Date:21 May,2025 Date:21 May,2025 Date:21 May,2025 138908 043746

Place: Nagpur Place: Nagpur Place: Nagpur ^Date:21 May,2°^{25 Date:}21 May,2°²⁵

Place: Nagpur Place: Mumbai

---

Mar 31, 2024

2) Loans are non-derivative financial assets which generate a fixed interest income for the Company. The carrying value may be affected by changes in the credit risk of the counterparties.

3) Non-Current loans to related parties pertain to funds advanced for business purpose. The management does not intend to recover the same in next year, these loans carry an interest at the rate of 6% - 7% per annum.

4) Amount due by directors or other officers of the company or any of them either severally or jointly with any other persons or amounts due by firms or private companies respectively in which any director is a partner or a director or a member for the FY 2023-24 is INR 5846 lacs, for FY 2022-23 is INR 5585 lacs and 2021-22 is INR 7954 lacs.

5) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediaries shall, whether, directly or indirectly lend or invest in other persons / entities identified in any manner whatsoever by or on behalf of the Company (''Ultimate Beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

6) The Company has not received any fund from any person(s) or entity(ies), including foreign entities ("Funding Party") with the understanding (whether recorded in writing or otherwise) that the Company shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries); or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

7) Additional disclosures related to Loans given to related party that are: (a) repayable on demand; and (b) without specifying any terms or period of repayment.

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

During the financial year 2023-24 and 2022-23 there was no change in the share capital and in FY 2022-23. However there was a sub division of Company''s Authorised Capital from 1,50,00,000 shares @ Rs. 10/- Face Value each to 3,00,00,000 shares @ Rs. 5/- face value each fully paid up. Subsequently, issued capital has been changed from 1,25,10,000/- shares @ Rs.10/- facevalue to 2,50,20,000/- shares @ Rs.5/- face value each fully paid up.

i)Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of 5per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. During the financial year 23-24, the company has paid final dividend of INR 0.375 per share for the financial year 22-23 after approval of the shareholders in the last annual general meeting. Total dividend paid to shareholders for the financial 22-23 is INR 9394 lacs

2. Board of directors have proposed a Final Dividend of INR 0.375 per share for the financial year 2023-24 to be paid upon approval from Shareholders in ensuing Annual General Meeting.

1. The company operates in one geographical location and its entire revenue is generated from India.

2. Amount from revenue from operations does not include Goods and Services Tax.

3. Revenue from operations includes only the gross increase in the economic benefits occurring to the entity on its own account and does not include amount collected in capacity as a agent or on behalf of the third party.

4. Information about major customer

No single customer represents 10% or more of the company''s total revenue for the years ended 31^st March 24 and 31^st March 2023 respectively.

5. Segment Information

The company publishes the standalone financial statements of the company along with the consolidated financial statements. In accordance with the Ind AS 108 "Operating Segments", the company has disclosed the segment information in the Consolidated Financial statement.

6. The transaction price / sale price does not include significant financing component.

1. Stock in trade includes goods purchased normally with intention to resale or trade in. Purchase of stock in trade does not include any semi-finished goods / materials that are purchased with an intention of doing further processing on the same, other than repackaging.

2. The above amounts include the cost of direct expenses i.e. cost of transportation, custom duty, ocean freight, port charges, and all other charges incurred for bringing the inventory to the company location.

ii. Financial instruments and deposits with banks

Credit risk is limited as we generally invest in deposits with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies. Counterparty credit limits are reviewed by the Company periodically and the limits are set to minimize the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

B. Liquidity Risk

Liquidity is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company''s treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. Management monitors the Company''s net liquidity position through rolling forecasts on the basis of expected cash flows.

The Company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Company believes that the cash and cash equivalents is sufficient to meet its current requirements. Accordingly, no liquidity risk is perceived.

The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due.

C. Market Risk

Foreign exchange rates

The Company does not have balances in foreign currency and consequently the Company is not exposed to foreign exchange risk. The exchange rate between the rupee and foreign currencies has changed substantially in recent years, which has affected the results of the Company, and may fluctuate substantially in the future. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

Interest rate

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company''s exposure to the risk of changes in interest rates relates primarily to the Company''s debt obligations with floating interest rates. The Company''s borrowings are short term / working capital in nature and hence is not exposed to significant interest rate risk.

Note 32 Capital Risk Management

The Company''s objectives when managing capital are to safeguard their ability to continue as a goingconcern, so that they can continue to provide returns for shareholders and benefits for other stakeholders and maintain an optimal capital structure to reduce the cost of capital.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.

Note 36 Fair Value Measurement

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair values:

Fair value of cash and short-term deposits, trade and other short-term receivables, trade payables, other current liabilities, short term loans from banks and other financial institutions approximate their carrying amounts largely due to short term maturities of these instruments.

Financial instruments with fixed and variable interest rates are evaluated by the Company based onparameters such as interest rates and individual credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for expected losses of these receivables. Accordingly, fair value of such instruments is not materially different from their carrying amounts.

Note 37 Other Statutory Information:

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

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

(iii) The company have pending charges yet to be registered with the ROC beyond the statutory period. The details of the instances are provided below:

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financialyear for the year ended March 31, 2023

(v) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

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

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any mannerwhatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

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

(vii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

(viii) The Company has not been declared as Willful defaulter by any Banks, Financial institution or other lenders.

Note 38

The quarterly returns/statements filed by the Company with such banks are in agreement with the books of accounts of the Company except to the extent of work in progress which has been recorded in books as at the end of the year.

Note 39 Standards issued but not effective

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company

Note 40

Previous year figures have been regrouped / reclassified to the extent practicable to make them comparable with current year figures

Note

1. The company has regrouped / reclassified the figures of Land as at April 01 2022 and rectified the classification as per Schedule III Division II.

---

Mar 31, 2023

1. Loans are non derivative financial assets which generate a fixed interest income for the Company. The carrying value may be affected by changes in the credit risk of the counterparties.

2. Non current loans to related parties pertain to funds advanced for business purpose. The management does not intend to recover the same in next year, these loans carry an interest at the rate of 6% - 7% per annum.

severally or jointly with any other person. All trade or other receivable are due from firms or private companies respectively in which any director is a partner, a director or a member 2) There are no “unbilled” trade receivables, hence the same are not disclosed in the ageing schedule.

i) As per records of the Company, including its register of shareholders/ members

and other declarations received from shareholders regarding beneficial interest, the above shareholding represents the legal ownership of shares.

ii) During the year under review there was no change in the share capital of the company. However there was a sub division of Company’s Authorised Capital from 1,50,00,000 shares @ Rs. 10/- Face Value each to 3,00,00,000 shares @ Rs. 5/- face value each fully paid up. Subsequently, issued capital has been changed from 1,25,10,000/- shares @ Rs.10/- face value to 2,50,20,000/- shares @ Rs.5/- face value each fully paid up.

iii) Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of 5per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

23. Contingent liabilities and commitments :
Contingent liabilities not provided for: a) Outstanding Bank Guarantees b) Corporate Guarantee to Bank for loan to subsidiary	2022-23 (Rs.in lacs) Nil 8687.00	2021-22 (Rs.in lacs) Nil 8687.00
Commitments: Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of advances)	Nil	Nil

27. Financial Risk Management

Financial risk management objectives and policies The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The company financial risk management policy is set by the Board.

Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time, or at a reasonable price. The Company’s treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risk are overseen by senior management. Management monitors the Company’s net liquidity position through rolling forecasts on the basis of expected cash flows.

28. Capital risk management

The Company’s objectives when managing capital are to safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other

31. Segment reporting

The Company presently operates only one segment hence no further reporting is required under this clause.

32. Fair Value Measurement

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair values: •

Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term loans from banks and other financial institutions approximate their carrying amounts largely due to short term maturities of these instruments.

Financial instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rates and individual credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for expected losses of these receivables. Accordingly, fair value of such instruments is not materially different from their carrying amounts.

The Financial Instruments are categorized in two level based on the inputs used to arrive at fair value measurement as described below

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

Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value ; observable, either directly or indirectly.

33. Other Statutory Information :

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

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

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

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year for the year ended March 31, 2023

(v) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

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

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

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

(vii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

(viii) The Company has not been declared as Willful defaulter by any Banks, Financial institution or Other lenders.

34. Standards issued but not effective :

The Ministry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standards) Amendment Rules, 2023 vide notification No. G.S.R 242(E ) dated 31st March 2023, effective from 1st April 2023. The following are the major amendments

ind AS 1 - Presentation of Financial Statements

The amendments require companies to disclose their material accounting policies rather than their significant accounting policies. Accounting policy information, together with other information, is material when it can reasonably be expected to influence decisions of primary users of general purpose financial statements. The Company does not expect this amendment to have any significant impact in its financial statements

ind AS 12 - income Taxes

The amendments clarifies how company should account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. The Company is evaluating the impact, if any, in its financial statements

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

The amendments clarifies the definition of a change in accounting estimates by replacing with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty’’. Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The Company does not expect this amendment to have any significant impact in its financial statements

The Company is assessing the impact of these changes and will accordingly incorporate the same for the financial statements for the year ended March 31, 2024.

35. Dividend declared is as subject to the approval of the shareholder in the ensuing AGM.

36. Previous year figures have been regrouped/reclassified wherever necessary to make them comparable with current year figures.

37. The financial statements were approved for issue by the Board of Directors on May 19, 2023