Ceigall India Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

2.3 Provisions

A provision is recognized when an enterprise has
a present obligation as a result of past event; it is
probable that an outflow or resources will be required
to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are discounted
to its present value and are determined based on
best estimate required to settle the obligation at
the balance sheet date. There are reviewed at each
balance sheet date and adjusted to reflect the current
best estimates.

2.4 Contingent Liabilities

The Company recognizes a provision when there is a
present obligation as a result of a past event and it
is more likely than not that there will be an outflow
of resources embodying economic benefits to settle
such obligation and the amount of such obligation
can be reliably estimated. Provisions are not
discounted to its present value, and are determined

based on the management''s best estimate of the
amount of obligation required at the year end.
These are reviewed at each balance sheet date and
adjusted to reflect current management estimates.
Contingent liabilities are disclosed in respect of
possible obligations that have arisen from past
events and the existence of which will be confirmed
only by the occurrence or non-occurrence of future
events not wholly within the control of the Company.
When there is a possible obligation or a present
obligation where the likelihood of an outflow of
resources is remote, no disclosure or provision is made.

2.5 Significant accounting judgements, estimates and
assumptions

The preparation of Financial statements in conformity
with Ind AS requires the management to make
judgments, estimates and assumptions that affect the
reported amounts of income, expenses, assets and
liabilities and the disclosure of contingent liabilities,
at the end of the reporting period. Although these
estimates are based on the management''s best
knowledge of current events and actions, uncertainty
about these assumptions and estimates could result
in the outcomes requiring a material adjustment to
the carrying amounts of assets or liabilities in future
periods. Therefore, actual results could 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.

Judgements

In the process of applying the material accounting
policies, management has made the following
judgements, which have the most significant effect on
the amounts recognised in the financial statements:

a) Revenue from contracts with customers

The management applied judgements that significantly
affect the determination of the amount and timing
of revenue from contracts with customers, such as
identifying performance obligations, uncertainty of
variable consideration and estimates on the contract
costs.

b) Valuation of accounts receivable and contract assets
in view of credit losses

Accounts receivable and contract assets are material
items in the Company''s financial statements. The

Company has concentration of credit exposure on a
particular customers, being a government organisation,
where there could be delays in collection to various
reasons. The management periodically assess the
adequacy of provisions recognised , as applicable, on
receivables and contract assets, based on factors such
as credit risk of customer, status of project, discussions
with the customer and underlying contractual terms
and conditions. This involves significant judgement.

c) Financial Instruments

Classification and measurement - Refer note 1.4
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. The Company
based its assumptions and estimates on parameters
available when the Financial Statements were prepared.
Existing circumstances and assumptions about future
developments, however, may change due to market
changes or circumstances arising that are beyond the
control of the Company. Such changes are reflected in the
assumptions when they occur.

a) Estimation of contract cost and revenue recognition

Revenue from construction contracts is recognised
over a period of time in accordance with IND AS 115,
"Revenue from contracts with Customers". The contract
revenue usually extends over a period 1 to 2 years and
the contact prices are fixed and in few cases subject to
clauses with price variances and variable consideration.
In accordance with the Input method prescribed under
IND AS 115, the contract revenue is measured based
on the proportion of contract costs incurred for work
performed to date relative to the estimated total costs.
This method required the Company to perform an
initial assessment of total estimated costs and reassess
the total construction cost at the end of each reporting
period to determine the appropriate percentage of
completion. The estimation of total cost to complete
the contract involves significant judgement and
estimation throughout the period of contract, as it is
subject to revision as the contract progresses- based
on latest available information including physical
work done on ground, changes in cost estimates and
need to accrue provision for onerous contracts if any.
Besides recognition of revenues based on actual cost
and estimated cost to complete the work at the period
end, the measurement recognition of contract assets
(unbilled revenue) and contract liabilities (unearned
revenue) related to each of the contract is also
depended on the cost.

b) Investments and Loans to Subsidiaries

The Company has extended loans to subsidiaries.
Due to the nature of business in the infrastructure
projects the Company is exposed to heightened risk
in respect of the impairment of loans granted to the
aforementioned related parties. There is significant
judgment and estimation uncertainty involved in
assessing the impairment of above loans made to
related parties because it is dependent on number
of infrastructure projects being completed as per
the schedule timeline and generation of future cash
flows.

The carrying amount of investment in subsidiaries
held at cost less impairment. These investments are
associated with significant risks in respect of valuation.
Changes in business environment could have a
significant impact of the valuation. The investments
are carried at cost less any impairment in value of
such investments. These investments are unquoted
and hence it is difficult to measure the recoverable
amount. The Company perform annual assessment of
impairment to identify any indicators of impairment
which are derived from forecasted cash flows which
require management to make significant estimated
assumptions related to future revenue growth,
concession period, operation cost, discount rate and
the assessment of the status of the project and cost to
complete balance work.

c) Defined benefit plans (gratuity benefit)

The cost of the defined benefit gratuity plan and the
present value of the gratuity obligation are 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.

The parameter most subject to change is the discount
rate. In determining the appropriate discount rate for
plans operated in India, the management considers
the interest rates of government bonds in currencies
consistent with the currencies of the post-employment
benefit obligation.

The mortality rate are current best estimates of the
expected mortality rates of plan members, both
during and after employment. Future salary increases
and gratuity increases are based on expected future
inflation rates, seniority, promotion and other relevant
factors, such as supply and demand in the employment
market. Refer Note 41 for further details.

d) Useful life of assets of Property, Plant and Equipment

The charge in respect of periodic depreciation is
derived after determining an estimate of an asset''s
expected useful life and the expected residual value at
the end of its life. The useful lives and residual values of
the assets are determined by management at the time
the asset is acquired and reviewed at each financial
year end. Refer Note 1.3 and 3 for further details.

e) Calculation of loss allowance

When measuring ECL the Company uses reasonable
and supportable forward-looking information, which
is based on assumptions for the future movement of
different economic drivers and how these drivers will
affect each other. Loss given default is an estimate of
the loss arising on default. It is based on the difference
between the contractual cash flows due and those
that the lender would expect to receive.

Probability of default constitutes a key input in
measuring ECL. Probability of default is an estimate
of the likelihood of default over a given time horizon,
the calculation of which includes historical data,
assumptions and expectations of future conditions.

f) Adoption of new accounting principles

Onerous contracts - cost of fulfilling a contract
(amendment to Ind AS 37 - Provisions, Contingent
Liabilities and Contingent Assets)

The amendment clarified that the ’costs of fulfilling
a contract'' comprise both the incremental costs and
allocation of other direct costs. The Company has
adopted this amendment effective 1 April 2022 and
the adoption did not have any material impact on its
financial statements.

g) Recently issued accounting pronouncements

On 31 March 2023, the Ministry of Corporate Affairs
(MCA), notified Companies (Indian Accounting
Standards) Amendment Rules, 2023 effective from 1
April 2023. Following are the key amended provisions
which may have an impact on the financial statements
of the Company:

Disclosure of accounting policies (amendments to Ind
AS 1 - Presentation of Financial Statements)

The amendments intend to assist in deciding which
accounting policies to disclose in the financial
statements. The amendments to Ind AS 1 require
entities to disclose their material accounting policies
rather than their Material accounting policies. The
amendments provide guidance on how to apply the
concept of materiality to accounting policy disclosures.

The company does not expect this amendment to
have any significant impact in its financial statements.

Definition of accounting estimate (amendments to Ind
AS 8 - Accounting Policies, Changes in Accounting
Estimates and Errors)

The amendments distinguish between accounting
policies and accounting estimates. The definition of
a change in accounting estimates has been replaced
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.

Deferred tax related to assets and liabilities arising
from a single transaction (amendments to Ind AS 12 -
Income taxes)

The amendments specify how to account for deferred
tax on transactions such as leases. The amendments
clarify that lease transactions give rise to equal
and offsetting temporary differences and financial
statements should reflect the future tax impacts of
these transactions through recognizing deferred
tax. The Company is evaluating the impact of this
amendment, if any, in its financial statements.

Other amendments included in the notification do not
have any significant impact on the financial statements.

Corporate Guarantee given to SPV namely M/s Ceigall Bathinda Dabwali Highways Pvt. Ltd. amounting to Rs. 1,860
millions is unconditional and irrevocable Corporate Guarantee as per bank sanction letter, shall be provided till
receipt of first two full annuities.

The Company as part of its various commitments to be fulfilled under Construction Contracts has provided Bank
Guarantees to various parties.

(b) Pending resolution of the respective proceedings, it is not practicable for the company to estimate the timings of
cash outflows, if any, in respect of the above as it is determinable only on receipt of judgments/decisions pending
with various forums/authorities. The Company has reviewed all its pending litigations and proceedings and has
adequately provided for where provisions are required and disclosed as contingent liabilities where applicable, in
its Standalone Financial Statement. The company does not expect the outcome of these proceedings to have a
materially adverse effect on its financial position.

Level 2: This level includes financial assets and liabilities, measured using inputs other than quoted prices included
within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices).

Level 3: This level includes financial assets and liabilities measured using inputs that are not based on observable
market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on
assumptions that are neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data.

C. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Company''s Finance team monitors and manages the financial risks relating to the operations of the Company.
These risks include market risk (including interest rate risk and other price risk), credit risk and liquidity risk.
The Company seeks to minimise the effects of these risks by diversification of investments, credit limit to exposures, etc.
The Company does not enter into or trade financial instruments, including derivative financial instruments, for speculative
purposes.

Market risk

Market risk is the risk of any loss in future earnings, in realizable fair values or in future cash flows that may result from a
change in the price of a financial instrument. The Company''s activities are not exposed to it except interest rates risk/
liquidity which impact returns on investments. Future specific market movements cannot be normally predicted with
reasonable accuracy.

Foreign currency risk management

The company does not have any exposure to foreign currency fluctuations.

D. CREDIT RISK MANAGEMENT

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the
Company. The Company is only dealing with government authorities which results in mitigating the risk of financial loss
from defaults. Financial instruments that are subject to concentrations of credit risk, principally consist of balance with
banks, investments in bonds, trade receivables and loans and advances.

Financial assets are written off when there is no reasonable expectations of recovery. Where recoveries are made, these
are recognized as income in Statement of profit and loss.

The company measures the expected credit loss of trade receivables based on historical trend, industry practices and the
business environment in which the entity operates. Loss rates are based on actual credit loss experiance and past trends

E. OTHER PRICE RISKS INCLUDING INTEREST RATE RISK
Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. The Company''s exposure to risk of changes in market rate is limited to short term working capital
loans at variable rate taken from banks as the Company''s long term borrowings bear fixed interest rate.

The Company''s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk
as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in
market interest rates.

The Company manages the interest rate risk by having a balanced portfolio of fixed and variable rate borrowings.

Credit risk rating

The Company assesses and manages credit risk of financial assets based on following categories arrived on the basis of
assumptions, inputs and factors specific to the class of financial assets.

Note: The above loans were given to the subsidiaries for their normal business activities.

The Company is engaged in the business of providing infrastructural facilities as per Section 186 (11) of the Act. Accordingly,

disclosure under section 186 (4) of the Act, is not applicable to the Company.

NOTE 56:

The monthly returns or statements of current assets filed with the Banks or FI''s are in agreement with the books of accounts.

NOTE 57:

Additional disclosure requirements as notified by MCA pursuant to amended Schedule III:

(a) There are no Proceedings initited or pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(b) There are no charges or Satisfaction of charges which are yet to be registered with Registrar of Companies beyond the
statutory period.

(c) The company is not declared a willful defaulter by any bank or FI''s or any other lender.

(d) There are no transactions with any company struck off under section 248 of the Company''s Act, 2013 or Section 560 of the
Companies Act, 1956.

(e) No Revaluation of property,Plant and equipment as no such revaluation has taken place during the year.

(f) There are no Loans or advances in the nature of loans granted to Promoters, directors, KMP''s and other related parties
either severally or jointly with any other person that are repayable on demand or without specifying any terms or period
of repayment.(31/03/2024 - 0.78 million)

(g) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.

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

(i) There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under
the Income Tax Act, 1961, that has not been recorded in the books of account.

(j) The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

(k) There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory
period.

(l) There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under
the Income tax Act 1961, that has not been recorded in the books of accounts.

NOTE 59: THE CODE ON SOCIAL SECURITY, 2020

The Code on Social Security, 2020 (''Code'') has been notified in Official Gazette on 29th September, 2020. The Code is not yet
effective and related rules are yet to be notified. Impact if any of the changes will be assessed and recognised in the period
in which said Code becomes effective and the rules framed there under are notified.

NOTE 60: MAINTENANCE OF BOOKS OF ACCOUNTS UNDER SECTION 128 OF THE COMPANIES ACT, 2013

The Company has defined process to take daily back-up of books of account maintained electronically.

NOTE 61: PREVIOUS YEAR COMPARATIVES

Previous year''s figures have been regrouped/ reclassified, wherever necessary, to conform to current year classification.
NOTE 62: EVENTS AFTER REPORTING PERIOD

There was no significant adjusting events that occurrred subsequent to the reporting period other than the events disclosed
the relevent notes.

NOTE 63: NO FUNDS HAVE BEEN ADVANCED OR LOANED OR INVESTED (EITHER FROM BORROWED FUNDS OR SHARE
PREMIUM OR ANY OTHER SOURCES OR KIND OF FUNDS) BY THE COMPANY TO OR IN ANY OTHER PERSON(S) OR ENTITY(IES),
INCLUDING FOREIGN ENTITIES ("INTERMEDIARIES”) WITH THE UNDERSTANDING, WHETHER RECORDED IN WRITING OR
OTHERWISE, THAT THE INTERMEDIARY SHALL LEND OR INVEST IN PARTY IDENTIFIED BY OR ON BEHALF OF THE COMPANY
(ULTIMATE BENEFICIARIES) OTHER THAN THE FOLLOWINGS:

The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall
whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate
Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

NOTE 65: SEGMENT INFORMATION
Basis for Segmentation

In accordance with the requirements of Ind AS 108, Segment Reporting, the Company is primarily engaged in a business of civil
construction and has no other primary reportable segments. The Managing Director of the Company allocate the resources
and assess the performance of the Company, thus he is the Chief Operating Decision Maker (CODM). The CODM monitors the
operating results of the business as a single segment, hence no separate segment needs to be disclosed.

For BD Bansal & Co. For and on behalf of Board of Directors of

Chartered Accountants Ceigall India Limited

FRN:0000621N

ANIL KUMAR GUPTA CHITWON WASON RAMNEEK SEHGAL

Partner Whole Time Director Managing Director

Membership No.: 089988 DIN- 10898748 DIN- 01614465

UDIN: 25089988BMINIV9667

Place: New Delhi KAPIL AGGARWAL MEGHA KAINTH

Date:08.05.2025 Chief Financial Officer Company Secretary

Membership No.: 506666 FCS 7639

---

Mar 31, 2024

Description of nature and purpose of each reserve

a) Retained Earnings

Retained earnings are the profits that the company has earned till date less any transfers to General Reserves, Dividends or other distribution paid to shareholders

b) Securities Premium

Securities Premium is used to record the premium received on issue of securities. The reserve is utilised in accordance with the provisions of the Companies Act,2013.

c) Other Comprehensive Income

Other comprehensive income represents the cumulative actuarial gains & lossses on employee benefits net of taxes.

The above Annexure should be read with the basis of preparation and Material Accounting Policies appearing in Note No. 1 and 2 ,Notes to the Standalone Financial Statements.

(i) Gratuity

The Company has a defined benefit gratuity plan. Every employee who has completed at least five years of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed years of service subject to a maximum of Rs. 2 millions. The scheme is unfunded.

The following tables summarize the components of net benefit expense recognized in the Statement of Profit and Loss and amount recognized in the Other Comprehensive Income in relation to re-measurement gain or loss based on IND AS 19.

Material Accounting Policies and explanatory notes to Standalone Financial Statements
I mole - m commitment and Contingencies
(i)	Commitments
(a)	Particulars	31-Mar-24
	Capital Commitments	_	44.01
(ii) Contingent liabilities:
(a) Claim against the company not acknowledge as debts is as follows-
	Particulars	31-Mar-24	Si-Mar-?*
	Demands raised by income tax authorities	6.82	6.82
	Demands raised by Indirect tax authorities	25.01	4.82
	Guarantees issued by the bank on the Company''s behalf	6,682.22	5,524.82
	Corporate gurantees issed by Company on behalf of subsidiary companies	1,860.00	5,000.00

Corporate Guarantee given to SPV namely M/s Ceigall Bathinda Dabwali Highways Pvt. Ltd. amounting to Rs. 1,860 millions is unconditional and irrevocable Corporate Guarantee as per bank sanction letter, shall be provided till receipt of first two full annuities.

The Company as part of its various commitments to be fulfilled under Construction Contracts has provided Bank Guarantees to various parties.

(b)

Pending resolution of the respective proceedings, it is not practicable for the company to estimate the timings of cash outflows, if any, in respect of the above as it is determinable only on receipt of judgments/decisions pending with various forums/authorities. The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed as contingent liabilities where applicable, in its Standalone Financial Statement. The company does not expect the outcome of these proceedings to have a materially adverse effect on its financial position.

C. Performance Obligation

(i) Sales of goods:

Performance obligation is satisfied upon delieveryof goods. Payment is generally taken in advances or due within 30 to 90 days after delievery of goods

(i) Sales of Services:

The performance obligation is satisfied over time as the asset is under the control of customer and they simultaneously receives and consumes the benefits provded by the company. The Company receives progressive payment towards provision of services.

44 The company has reclassified the previous year figures wherever necessary to conform to this year''s classification.

45 Borrowing costs were capitalised during the year amounting to Rs. 1.62 millions & (Previous year -Rs. 1.43 millions)

46 In the opinion of the Board, all assets other than Property, Plant and Equipment and non current investments have a value on realisation in the ordinary course of business at least equal to the value at which they are stated in the foregoining Balance

47 Interest in other entities Joint operations

The Company has interest in following joint arrangement which was set up as an Un-incorporated AOPs for construction of roads, highways and railways:

Classification of Joint Arrangements

The company has entered into joint arrangements with third parties through an association of persons (AOP). As per the contractual arrangements, the company being one of the party to the joint arrangements has right to the assets and obligations for the liabilities relating to the arrangement. Accordingly the joint arrangements have been identified has joint

Financial impact of joint controlled operations

The company accounts for assets, liabilities, revenue and expenses relating to its interest in joint controlled operations based on the internal agreements/arrangements entered into between the parties to the joint arrangements for execution of projects. Accordingly the company has recognized total income and expenditure, Assets and Liabilities as follows:-

- continue as a going concern while maximising the return to stakeholders through efficient allocation of capital towards expansion of business

- optimisation of working capital requirements and deployment of surplus funds into various investment options

The management of the Company reviews the capital structure of the Company on regular basis. As part of this review, the Board considers the cost of capital and the risks associated with the movement in the working capital.

The following table summarizes the capital of the Company:

The following is the basis of categorising the financial instruments measured at fair value into Level 1 to Level 3:

Level 1: This level includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: This level includes financial assets and liabilities, measured using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3: This level includes financial assets and liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

Fair value of the Company''s financial assets that are measured at fair value on a recurring basis:

There are certain Company''s financial assets which are measured at fair value at the end of each reporting period. Following table gives information about how the fair values of these financial assets are determined:

The fair value of the financial assets and financial liabilities are included at the amount that would be received to sell an asset and paid to transfer a liability in an orderly transaction between the market participants. The following methods and assumptions were used to estimate the fair values:

- Investments traded in active markets are determined by reference to quotes from the financial institutions; for example: Net asset value (NAV) for investments in mutual funds declared by mutual fund house

- Trade receivables, cash & cash equivalents, other bank balances, loans, other current financial assets, Trade payables and other current financial liabilities: Approximate their carrying amounts largely due to short-term maturities of these instruments.

-There are no transfers between Level I, Level II and Level III during the year. _

^ ^ncia^^sks;^e,a^^{to ,he} t™*" °^{f ,he} _risk! „,**

risks by diversification of investments credit limit to exposures etc The ''c *" ''^{quldlty nsk}''^The Company seeks to minimise the effects of these derivative financial instruments, for spec«“urp“eT ^ ⁱⁿ“ °^r "^{ade fl}"³"‘^ial ''«"»''«». -eluding

Market risk

^,r₁:^esu''^{t from} 3 chanee in ,he price °^f 3

specific market movements cannot be normally predicted with reasonable accuracy °" ^iflVeStmentS'' ^Future

Foreign currency risk management

The company does not have any exposure to foreign currency fluctuations.

::rr“=rrc:rs~T-r“-''*“"

concentrations of credit risk, principally consist o, balance with banks, in tmem „ _d " ’***

=::n:rr^ffwhe"~

Credit risk rating

spe*l^P7er^=r^{dit MSk} °^{f ,inanCi3}''““ ^bMed ~^S ^ «-* o< assumptions, inputs and factors

A: Low credit risk on financial reporting date B: Moderate credit risk C: High credit risk

The Company has deployed its surplus funds into the units of

secIntTeT ''" ^UndS''^ ^ °^{f lnvestments is ,m}Pa«ed by movements in interest rates, liquidity and credit quality of underlying NAV price sensitivity analysis

been l%h''igherTiow^Ser ^^{e,OW h3}“^e h⁸³" ^de''“^{mined baSeP} °" ^{the exposure ,0 NAV price risks at the end} °< reporting period. If NAV prices had • profit for the year ended

• March 31, 2024 would increase/decrease by INR 36.80 millions

• March 31, 2023 would increase/decrease by INR 24.86 millions Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of the financial instruments will fluctuate because of changes in market interest rates. In order to optimize the Company''s position with regards to interest income and interest expenses and to manage the interest rate risk, Finance earn performs a comprehensive corporate interest rate risk management by having fixed rate funds only in its total portfolio.

According to the Company, there is no interest rate risk exposure for floating rate borrowings.

57 The quaterly returns or statements of current assets filed with the Banks or FI''s are in agreement with the books of accounts.

58 No Transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:

(a) Crypto Currency or Virtual Currency

(b) There are no Proceedings initited or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(c) There are no charges or Satisfaction of charges which are yet to be registered with Registrar of Companies beyond the statutory period.

(d) The company is not declared a willful defaulter by any bank or FI''s or any other lender.

(e) There are no transactions with any company struck off under section 248 of the Company''s Act, 2013 or Section 560 of the Companies Act, 1956.

(f) No Revaluation of property,Plant and equipment as no such revaluation has taken place during the year.

(g) There are no Loans or advances in the nature of loans grated to Promoters, directors, KMP''s and other related parties either severally or jointly with any other person that are repayable on demand or without specifying any terms or period of repayment.

(h) The Company has used accounting softwares for maintaining its books of account for the financial year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the softwares and audit trail feature is not tampered with.

60 The Code on Social Security, 2020

The Code on Social Security, 2020 (''Code'') has been notified in Official Gazette on 29th September, 2020. The Code is not yet effective and related rules are yet to be notified. Impact if any of the changes will be assessed and recognised in the period in which said Code becomes effective and the rules framed there under are notified.

61 Maintenance of Books of accounts under Section 128 of the Companies Act, 2013

The Company has defined process to take daily back-up of books of account maintained electronically

(a) an accounting application does not support maintenance of logs of backups taken on the daily basis; (b) there has been instances where there are delays in taking backup in accounting application. The management is in the process of taking necessary steps to configure systems to ensure the logs of daily backup for books of account is maintained in order to ensure compliance with the requirements of the applicable statute.

62 Previous Year Comparatives

Previous year''s figures have been regrouped/ reclassified, wherever necessary, to conform to current year classification.

63 Events after reporting period

There was no significant adjusting events that occurrred subsequent to the reporting period other than the events disclosed the relevent notes.

G. Reason for shortfall

The company has spent 7.99 millions in excess of the amount required to be spent for the year ended March 31, 2024 which have been transferred to prepaid account

The shortfall amounting to 12.07 millions for the year ended March 31, 2023 pertains to ongoing projects which has been transferred to separate unspend CSR account subsequent to year end in accordance with the provisions of section 135 (6) of the Companies act, 2013 out of which 7.52 millions is spent and closing unspent is 4.55 millions.

H. Nature of CSR activities: -

(i) Donations to CSR registered Hospitals, Gurudwaras & Religious Places

(ii) Educational facilities to under privileged and disabled children

(iii) Promotion of sports by way of providing sports equipments and setting up sports events

Basis Segmentation

l³nrl^d,^{anCe With},^thTK^eM^irementS °^f ''^{nd AS 108}'' ^{Segment RePOrtin§}''^{the C0mpany iS primarilv engaged in 3 business of civil} construction and has no other primary

MSker(CO^rThTcOD^^anar⁸ V*™ ^{the C}°^{mPanV a}"^{0Cate the reS0UrCeS and aSSeSS the perform3nce of the} Company, thus he is the Chief Operating Decision Maker (CODM). The CODM monitors the operating results of the business as a single segment, hence no separate segment needs to be disclosed.

Information about geographical areas

As the Company operates in India only, hence no separate geographical segment is disclosed.