Crizac Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

(xvi) Provisions and Contingencies

The Company recognises provisions when a present obligation (legal or constructive) as a result of a past event
exists and it is probable that an outflow of resources will be required and the amount of outflow can be reliably
estimated. If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision
due to the passage of time is recognised as a finance cost. A disclosure for a contingent liability is made when there
is a possible obligation or a present obligation that may, but probably will not require an outflow of resources or the
amount of such outflow cannot be measured reliably. When there is a possible obligation or a present obligation in
respect of which likelihood of outflow of resources is remote, no provision or disclosure is made.

Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of
an inflow of economic benefits. Contingent Assets are not recognized though are disclosed, where an inflow of
economic benefits is probable.

(xvii) Events after reporting date

Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of
the reporting period, the impact of such events is adjusted within the Standalone Financial Statement. Otherwise,
events after the balance sheet date of material size or nature are only disclosed.

3) KEY ACCOUNTING ESTIMATES AND JUDGEMENT

The preparation of the Standalone Financial Statement requires the management to make judgements, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of assets or liabilities effected in future periods.

Critical accounting estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next

financial year, are described below:

a) Income taxes

Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax,
determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax
positions.

b) Useful Lives and Residual Values of Property, Plant and Equipment, Intangible Assets and Investment
Properties

Property, plant and equipment, intangible assets and investment properties represent a significant portion of
the Company''s asset base. The depreciation and amortisation charge recognised during the year is based on
management''s estimates of the useful lives and residual values of these assets. The useful lives and residual values
are determined at the time the assets are acquired and are reviewed periodically, including at each financial year
end.

In estimating useful lives and residual values, management considers various factors such as historical experience
with similar assets, expected usage patterns, anticipated physical wear and tear, operating conditions, technological
developments, changes in market demand, legal or contractual provisions, maintenance support arrangements and
the expected period over which the assets will generate economic benefits. For investment properties, management
also considers factors affecting the expected holding period and the pattern in which future economic benefits are
expected to be consumed. Changes in these estimates could result in a material impact on the depreciation or
amortisation expense and the carrying value of the related assets.

c) Defined Benefit Obligation

The costs of providing post-employment benefits are charged to the Standalone Statement of Profit and Loss in
accordance with Ind AS 19 ''Employee benefits'' over the period during which benefit is derived from the employees''
services. The costs are assessed on the basis of assumptions selected by the management. These assumptions
include salary escalation rate, discount rates and mortality rates. The same is disclosed in Note 42, ''Employee
benefits''.

d) Share-based payment transactions

The fair value of employee stock options is measured using the Black-Scholes model. Measurement inputs include
share price on grant date, exercise price of the instrument, expected volatility (based on weighted average historical
volatility), expected life of the instrument (based on expected exercise behaviour), expected dividends, and the
risk free interest rate (based on government bonds). Details regarding the determination of the fair value of equity-
settled share-based transactions are set out in Note 44.

e) Useful Life of Right-of-Use Assets

The depreciation of right-of-use assets is based on the shorter of the lease term and the useful life of the underlying
asset, unless the lease transfers ownership of the underlying asset to the Company by the end of the lease term or
the cost of the right-of-use asset reflects that the Company is reasonably certain to exercise a purchase option. In
such cases, the right-of-use asset is depreciated over the estimated useful life of the underlying asset.

In determining the lease term, management considers the non-cancellable period of the lease together with renewal
and termination options where it is reasonably certain that such options will be exercised. The estimated useful lives
of the underlying assets are determined based on the nature of the assets, expected pattern of consumption of
future economic benefits, technical and commercial obsolescence, expected usage and historical experience.

Management reviews the lease term, useful life estimates and related assumptions periodically in light of business
plans, contractual arrangements and economic factors. Changes in these estimates may result in changes to the
depreciation charge and carrying amount of right-of-use assets. However, based on the nature and quantum of the
Company''s lease arrangements, management does not expect any such changes to have a material impact on the
financial statements

f) Fair value measurement of financial Instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using valuation techniques. The input to these
models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is
required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and
volatility.

4) Recent Accounting Pronouncements

Ministry of Corporate Affairs ("MCA”) has notified amendments to the existing standards Ind AS 1 - Presentation of financial
statements relating to classification of liabilities as current or non-current subject to covenants, Ind AS 12 - Income Taxes
relating to international tax reforms - Pillar Two Model Rules, Ind AS 21 - the effect of changes in foreign exchange rates
and Ind AS 107 - Financial Instruments: Disclosures and Ind AS 7 - Statement of Cashflows relating to disclosure of supplier
financing arrangements, applicable from April 1,2025. The Company has assessed that there is no significant impact on its
financial statements with respect to the amendments in Ind AS 1, Ind AS 21, Ind AS 12 and Ind AS 7.

Standards notified but not yet effective

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

Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants
and Ind AS 10 Events after the Reporting Period

Ind AS 10 has been amended to remove the previous treatment under which a lender''s post reporting date waiver—
granted before the financial statements were approved for issue—of a breach of a material covenant in a long term loan
arrangement that occurred on or before the end of the reporting period, resulting in the liability becoming payable on
demand at the reporting date, was regarded as an adjusting event .

For annual reporting periods beginning on or after 1 April 2026, any breach of a covenant—whether material or
immaterial—occurring on or before the reporting date will, in accordance with Ind AS 1, require the related liability to be
classified as current, unless the lender has granted a waiver of the breach on or before the reporting date and has agreed
not to demand repayment for at least 12 months after the reporting date as a consequence of the breach. Such a waiver
shall be treated as an adjusting event.

The amendments are effective for annual reporting periods beginning on or after 1 April 2026.

The Company is currently assessing the probable impact of amendments which are applicable in its annual financial
statements.

18.8 The shareholders of the Company, at their General Meeting held on 21 March 2024, approved the "CRIZAC Employee
Stock Option Plan 2024” (ESOP 2024), authorizing the grant of options exercisable into equity shares not exceeding
52,49,475 (Fifty-Two Lakh Forty-Nine Thousand Four Hundred Seventy-Five) equity shares. Subsequently, pursuant to
the approval of the shareholders obtained through postal ballot on 22 March 2026, the scheme was amended and
titled as the "CRIZAC Employee Stock Option Plan 2026” (ESOP 2026). Under ESOP 2026, the Company is authorized
to grant options exercisable into equity shares not exceeding 1,22,48,775 (One Crore Twenty-Two Lakh Forty-Eight
Thousand Seven Hundred Seventy-Five) equity shares. Each option under ESOP 2026 confers upon the grantee the
right to apply for and be allotted one equity share of the Company, at an exercise price determined in accordance with
the terms and conditions of the plan. (Refer Note 44).

18.9 During the year ended 31 March, 2026, the Company has completed its IPO of 3,51,02,040 equity shares of face value
Rs. 2.00 each at an issue price of Rs. 245.00 per share (including a share premium of Rs. 243.00 per share) and as a result
the equity shares of the Company were listed on National Stock Exchange of India Limited (NSE) and Bombay Stock
Exchange Limited (BSE) on 9 July, 2025. The issue comprised of offer for sale of 3,51,02,040 equity shares by selling
shareholders aggregating to Rs. 86,000.00 Lakhs.

18.10 No equity shares have been reserved for issue under contracts/ commitments for the sale of shares/ disinvestment as
at the Balance Sheet date.

18.11 The Company has not issued/ allotted any shares pursuant to contract(s) without payment being received in cash
during previous five years.

18.12 The Company has issued 2,49,97,500 Bonus Shares during the year ended 31 March, 2024 and 99,78,800 Bonus Shares
during the year ended 31 March, 2022.

18.13 The Company has not bought back any shares during previous five years.

18.14 No securities convertible into equity shares have been issued by the Company during the year ended 31 March, 2026
and 31 March, 2025.

Note: Movement of Other equity has been disclosed in Statement of changes in equity19.1 Nature/ Purpose of each reserve

a) Retained Earnings: Retained earnings are the profits that the company has earned till date, less any transfers to general
reserve, dividends or other distributions paid to shareholders. Retained earnings includes re-measurement (loss)/gain on
defined benefit plans, net of taxes that will not be reclassified to Statement of Profits and Losses and also includes fair
value adjustments on transition to Ind AS.

b) Securities Premium Account: The amount received in excess of face value of the equity shares is recognised in Securities
Premium as per the provision of Companies Act, 2013 (''the Act''). This reserve is utilised in accordance with the provisions
of the Act.

c) Other Comprehensive Income (OCI) : Other Comprehensive Income (OCI) represent the balance in equity for items to
be accounted under OCI and comprises of the following:

i) Remeasurement of defined benefit plans: The actuarial gains and losses arising on defined benefit obligations have
been recognised in OCI and thereafter transferred to Retained Earnings.

ii) Equity Instrument through OCI: The Company has recognised changes in the fair value of certain investments
in equity instrument (net of deferred tax applicable thereon) in other comprehensive income for the purpose of
utilising same at the point of disposal of relevant investment as and when done at a future date.

d) Share Based Payment Reserves: This represents the fair value of the stock options granted by the Company under the
ESOP Plan accumulated over the vesting period. The reserve will be utilized on exercise of the options.

42 Disclosure pursuant to Indian Accounting Standard - 19 ''Employee Benefits''42.1 Defined Contribution Plan:Provident and Employee State Insurance Fund Contribution

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying
employees towards Provident and Pension Fund and Employee State Insurance (''ESI'') which are defined contribution
plans. The Company has no obligations other than to make the specified contributions. The contributions are recognised
in the Standalone Statement of Profit and Loss as they accrue.

The amount recognized as an expense for the Defined Contribution Plans are as under:

42.2 Defined Benefit Plan (Unfunded):

The Company has one type of defined benefit plan :

Gratuity Plan

Every employee who has completed five years or more of service is entitled to Gratuity as per the provisions of the
Payment of Gratuity Act, 1972. The present value of defined benefit obligation and related current cost are measured
using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.

44 Share based payments44.1 Description of share-based payment arrangement

CRIZAC Employee Stock Option Plan 2026 (equity-settled)

The shareholders of the Company, at their General Meeting held on 21 March 2024, approved the "CRIZAC Employee
Stock Option Plan 2024” (ESOP 2024), authorizing the grant of options exercisable into equity shares not exceeding
52,49,475 (Fifty-Two Lakh Forty-Nine Thousand Four Hundred Seventy-Five) equity shares. Subsequently, pursuant to
the approval of the shareholders obtained through postal ballot on 22 March 2026, the scheme was amended and titled
as the "CRIZAC Employee Stock Option Plan 2026” (ESOP 2026). Under ESOP 2026, the Company is authorized to grant
options exercisable into equity shares not exceeding 1,22,48,775 (One Crore Twenty-Two Lakh Forty-Eight Thousand
Seven Hundred Seventy-Five) equity shares. Each option under ESOP 2026 confers upon the grantee the right to apply
for and be allotted one equity share of the Company, at an exercise price determined in accordance with the terms and
conditions of the plan.

The Plan is administered by the committee constituted by the Board from time to time, to administer and supervise the
ESOP 2026 and other employee benefit plan/schemes, if any, comprising of such members of the Board as provided
under Rule 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to act as a compensation
committee under Regulation 5 of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations and other
applicable provisions of the Companies Act. 2013 for the time being in force.

Only Employees are eligible for being granted Options under ESOP 2026. The specific Employees to whom the options
would be granted and their eligibility criteria would be determined by the Committee.

a Share price at grant date was not available as the Company was unlisted on the date of grant of options.

b Expected volatility used in the Black Scholes option-pricing model is the annualized standard deviation of the continuously
compunded rate of the return of the stock over a period of time. In case of the Company, being unlisted on the date of
grant of options, the valuer has taken volatality of the Company as 37.88% as per the data available of the peer company
as on valuation date.

c Expected dividend: Considered the dividend yield i.e. 40.00% Company''s net profit as dividend every year amounting to
1.48% approx. as a percentage of current market price or exercise price. The Board has proposed that in the immediately
succeeding 3 financial years the board will propose at least 40% of Company''s net profit as dividend every year.

44.3 Reconciliation of outstanding share options

The number and weighted average exercise prices of share option under the share option plan (refer 44.1 above) are
as follows.

Note: Out of the total options granted, 15,00,000 options were granted to an eligible employee of the subsidiary company,
Crizac Ltd (UK).

In respect of options granted to employees of the subsidiary company, the Company recognises share-based payment expense
over the vesting period, with a corresponding increase in the carrying amount of its investment in the subsidiary. Accordingly,
the portion attributable to the employee of the subsidiary has been recognised as " Deemed Investment for Employee Cost ”
under Investment in Subsidiary, with a corresponding credit to the ESOP Reserve.

44.4 Expense recognised in Standalone Statement of Profit and Loss

During the year ended 31 March 2026, the Company has charged Rs. 214.72 Lakhs (31 March, 2025: Rs Nil) as share based
payment equity-settled expenses.

44.5 Details of the liabilities arising out of the share based payments to employees - Equity settled were
as follows:(a) Segment Reporting

Operating segments are defined as components of an enterprise for which discrete financial information is available
that is evaluated regularly by the Chief Operating Decision Maker, in deciding how to allocate resources and assessing
performance. Operating segments are reported in a manner consistent with the internal financial reporting provided to
the chief operating decision maker. Based on the management approach as defined in Ind AS 108, the Chief Operating
Decision Maker evaluates the Company''s performance based on only one segment i.e. International Student Recruitment.

(c) Revenue from major customers

Total amount of revenue of Rs. 25,190.25 Lakhs from 2 major customer for the year ended 31 March, 2026 ; and total
amount of revenue of Rs. 17,028.17 Lakhs from 1 major customer for the year ended 31 March, 2025, each exceeding 10%
of the total revenue of the Company.

Note: Investment excludes Investment in subsidiary as it has been measured at cost.46.1 Fair Value Hierarchy

The following are the judgements and estimates made in determining the fair values of the financial instruments that are
(a) recognized and measured at fair value and (b) measured at amortized cost and for which fair value are disclosed in the
Standalone Financial Statements. To provide an indication about the reliability of the inputs used in determining fair value,
the Company has classified its financial instruments into the three levels of fair value measurement as prescribed under
the Ind AS 113 "Fair Value Measurement”.

The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and lowest priority to unobservable inputs (Level 3 measurements). Fair value of the financial instruments
is classified in various fair value hierarchies based on the following three levels:

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

• Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded
in an active market is determined using valuation techniques which maximize the use of observable market data
and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are
observable, the instrument is included in Level 2, and

• Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If
one or more of the significant inputs is not based on observable market data, the fair value is determined using
generally accepted pricing models based on a discounted cash flow analysis, with the most significant input being
the discount rate that reflects the credit risk of counterparty. This is the case with listed instruments where market is
not liquid and for unlisted instruments.

During the year ended 31 March, 2026 and 31 March, 2025, there were no transfers between Level 1 and Level 2 fair value
measurements, and no transfer into and out of Level 3 fair value measurements.

46.2 Valuation process and technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

a Unquoted investments - As determined by Independent Valuer. Fair value estimates of equity investments are
included in level-2 and are based on information relating to value of investee company''s net assets after required
adjustments.

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

47 Financial Risk Management

Financial management of the Company has been receiving attention of the top management of the Company. The management
considers finance as the lifeline of the business and therefore, financial management is carried out meticulously on the basis of
detailed management information systems and reports at periodical intervals extending from daily reports to long-term plans.
Importance is laid on liquidity and working capital management with a view to reduce over-dependence on borrowings and
reduction in interest cost. Various kinds of financial risks and their mitigation plans are as follows

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables). On account of
adoption of Ind AS 109, the Company uses an expected credit loss model to assess the impairment loss.

Trade Receivables

Customer credit risk is managed by the Company''s established policy, procedures and control relating to customer credit risk
management. Outstanding customer receivables are regularly monitored and reconciled. Based on historical trend, industry
practice and the business environment in which the Company operates, an impairment analysis is performed at each reporting
date for trade receivables. Based on above, the Company has assessed that provision for doubtful debts for the year ended 31
March, 2026 and for the year ended 31 March, 2025 respectively is not required. Refer Note 13 for Exposure.

Other Financial Assets

Credit Risk on cash and cash equivalent, deposits with the banks/financial institutions is generally low as the said deposits have
been made with the banks/financial institutions who have been assigned high credit rating by international and domestic
rating agencies. Refer Note 14 for Exposure.

Liquidity Risk

The Company''s objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements at all times. The
Company monitors its operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to
meet its short to medium/ long term expansion needs. The Company monitors rolling forecasts of its liquidity requirements to
ensure it has sufficient cash to meet operational needs.

Maturity Analysis for financial liabilities

The following are the remaining contractual maturities of financial liabilities as at 31 March, 2026 and 31 March, 2025

It is not expected that cash flows included in the maturity analysis could occur significantly earlier, or at significantly different
amounts. When the amount payable is not fixed, the amount disclosed has been determined with reference to conditions
existing at the reporting date.

Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market risk comprises of Foreign Exchange Risk and Interest Rate Risk.

Foreign Currency Risk

Foreign currency risk is the risk that the future cash flows of an exposure will fluctuate because of changes in foreign exchange
rates. The Company''s exposure to the risk of changes in foreign exchange rates relates primarily to the Company''s operating
activities.

The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to the GBP,
AED and EUR. Foreign exchange risk arises from commercial transactions and recognised assets and liabilities denominated
in a currency that is not the company''s functional currency (INR).Certain transactions of the Company act as a natural hedge
as a portion of both assets and liabilities are denominated in similar foreign currencies. For the remaining exposure to foreign
exchange risk, the Company adopts a policy of selective hedging based on risk assessment of the management. Foreign
exchange forward hedging contracts are carried at fair value.

48 Capital Management

The Company''s objective to manage its capital is to ensure continuity of business while at the same time provide reasonable
returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is
reviewed periodically with reference to operating and business plans that take into account capital expenditure and strategic
investments. Sourcing of capital is done through judicious combination of equity/internal accruals and short term borrowings,
whenever required.

The Company has no debt obligations as on 31 March, 2026 and 31 March, 2025.

No changes were made in objectives, policies or processes for managing capital during the years ended
31 March, 2026 and 31 March, 2025

49 Leases

The Company has lease contracts for certain buildings used in its operations for the unexpired period of 99 years from the dates
of commencement of the respective head leases, with or without renewal. The Consideration paid by the Company against
the transfer and assignment of the leasehold rights has been recognised and shown under Right of Use Assets (Refer Note 7).
The carrying amount of right-of-use assets (Buildings) recognised and its movements during the year are disclosed in
Note 7.

Lease liabilities is being measured by discounting the lease payments using the incremental borrowing rate i.e. 9% p.a.
Movement of the carrying amount of lease liabilities during the period are as under:

^AExcess CSR expenditure amounting to Rs. 12.73 lakhs incurred in previous years is not available for set-off against the CSR
obligation of future financial years, as the same has not been carried forward by the Company.

There is no unspent amount at the end of the year to be deposited in specified fund of Schedule VII under section 135(5) of the
Companies Act, 2013.

51 Additional Regulatory Information

51.1 The Company has not entered into any scheme of arrangement under section 230 to 237 of Companies Act,2013 which
has an accounting impact for the year ended 31 March, 2026 and for the year ended 31 March, 2025.

51.2 The Company doesn''t have any investments through more than two layers of investment companies as per section 2(87)
(d) and section 186 of Companies Act, 2013 during the year ended 31 March, 2026 and for the year ended 31 March, 2025.

51.3 The Company does not have any benami property, where any proceedings have been initiated or pending against the
Company for holding any benami property under Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules
made there under for the year ended 31 March, 2026 and for the year ended 31 March, 2025.

51.4 No working capital loan has been taken by the Company during the year ended 31 March, 2026 and for the year ended
31 March, 2025. and the Company is not required to file quarterly returns / statements with any such bank/ Financial
Institutions.

51.5 The Company has not been declared as wilful defaulter by any bank or financial institution or other lender during the year
ended 31 March, 2026 and for the year ended 31 March, 2025.

51.6 The Company does not have any transaction with companies struck off under section 248 of the Companies Act, 2013 or
section 560 of Companies Act, 1956 during the year ended 31 March, 2026 and for the year ended 31 March, 2025.

51.7 The Company does not have any Charges or satisfaction of charges which is yet to be registered with ROC beyond the
statutory period for the year ended 31 March, 2026 and for the year ended 31 March, 2025.

51.8 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 ended 31 March, 2026 and for the year ended 31 March, 2025 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).

51.9 The Company has not advanced or loaned or invested funds(borrowed funds, Share premium or any other type of funds)
to any other person(s) or entity(ies),including foreign entities(intermediaries) with the understanding whether recorded
in writing or otherwise that the intermediary shall :

(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,Csecurity or the like to or on behalf of the Ultimate Beneficiaries during the year ended 31
March, 2026 and for the year ended 31 March, 2025.

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

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

(b) provide any guarantee ,security or the like on behalf of the Ultimate Beneficiary during the year ended 31 March,
2026 and for the year ended 31 March, 2025.

On 21 November 2025, the Government of India notified four Labour Codes namely the Code on Wages, 2019, the Industrial
Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020
(Collectively referred as the "Labour Codes”), which subsume 29 existing labour laws. The Ministry of Labour and Employment
has issued draft Central Rules and FAQs to facilitate evaluation of the impact arising from the implementation of the said Codes.

The Company has assessed the impact of the Labour Codes and noted that there is no material impact on its financial statements
as the existing compensation and employee benefit structures are broadly aligned with the requirements of the Labour Codes.
However, the Company continues to monitor the notification of the final Central and State Rules and other related clarifications
and will recognise any impact, if applicable, in the period in which the relevant provisions become effective.

The Company has used Tally ERP for maintaining its books of account. The software has an audit trail (edit log) facility, which
was enabled and operated from 03 May, 2024 for all relevant transactions recorded therein. No instances of tampering with
the audit trail were noted in respect of the accounting software where the feature was enabled. Additionally, the audit trail has
been preserved by the Company as per the statutory requirements for record retention where the audit trail has been enabled.

Certain items in the standalone financial statements for previous periods/years have been reclassified or regrouped to align
with the presentation for the current period. These changes have been made to enhance the quality of information disclosed
and do not impact the previously reported profit or total equity.