(xviii) Provisions, Contingent Liabilities and Contingent
Assets:

The amount recognised as a provision is the best estimate of the
consideration required to settle the present obligation at the end of
the reporting period, taking into account the risks and uncertainties
surrounding the obligation. Provisions are determined by discounting
the expected future cash flows (representing the best estimate of the
expenditure required to settle the present obligation at the balance
sheet date) at a pre-tax rate that reflects current market assessments
of the time value of money and the risks specific to the liability. When
the Company expects some or all of a provision to be reimbursed,
for example, under an insurance contract, the reimbursement is
recognised as a separate asset, but only when the reimbursement is
virtually certain. The expense relating to a provision is presented in the
Statement of Profit and Loss net of any reimbursement. The unwinding
of the discount is recognised as finance cost. Expected future operating
losses are not provided for.

A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control
of the Company or a present obligation that is not recognised because
it is not probable that an outflow of resources will be required to settle
the obligation or a reliable estimate of amount cannot be made.

Contingent liabilities may arise from litigation, taxation and other
claims against the Company. The contingent liabilities are disclosed
where it is management''s assessment that the outcome of any litigation
and other claims against the Company is uncertain or cannot be
reliably quantified, unless the likelihood of an adverse outcome is
remote.

A contingent liability recognised in a business combination is initially
measured at its fair value. Subsequently, it is measured at the higher
of the amount that would be recognised in accordance with the
requirements for provisions above or the amount initially recognised
less, when appropriate, cumulative amortisation recognised in
accordance with the requirements for revenue recognition.

Contingent assets are not recognised but are disclosed in the notes
where an inflow of economic benefits is probable.

The Company has the policy to provide interest on delayed payments
to MSME vendors as per the provisions of Section 16 of the MSME
Act, 2006. Accordingly, the Company recognizes the interest liability
only when a present obligation exists on account of the demand raised
by the vendor or when it is probable that the interest is required to be
paid. On the basis of the past experience and published policies of
the Company, if there is no constructive obligation in respect of the
probable outflow of the interest payment, the same is disclosed as
contingent liability.

|xix| impairment of non-financial assets:

The Company reviews the carrying amounts of non-financial assets
to determine whether there is any indication that those assets
have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss (if any). When it is not possible to estimate
the recoverable amount of an individual asset, the Company estimates
the recoverable amount of the cash-generating unit to which the asset
belongs. Each CGU represents the smallest Group of assets that
generates cash inflows that are largely independent of the cash inflows
of other assets or CGUs. When a reasonable and consistent basis of
allocation can be identified, corporate assets are also allocated to
individual cash-generating units, or otherwise they are allocated to the
smallest group of cash-generating units for which a reasonable and
consistent allocation basis can be identified.

The Company bases its impairment calculation on detailed budget
and forecast calculations, which are prepared separately for each
of the Company''s cash-generating unit to which the individual
assets are allocated. For longer periods, a long term growth rate is
calculated and applied to project future cash flows. To estimate cash
flow projections beyond periods covered by the most recent budget/
forecasts, the Company estimates cash flow projections based on
estimated growth rate.

If the recoverable amount of an asset (or cash-generating unit) is
estimated to be less than its carrying amount, the carrying amount of
the asset (or CGU) is reduced to its recoverable amount. An impairment
loss is recognised immediately in the Statement of Profit and Loss.

|xx| Earnings per share:

Basic earnings per equity share is computed by dividing the net
profit/(loss) attributable to the equity holders of the Company by the
weighted average number of equity shares outstanding during the
period. Diluted earnings per equity share is computed by dividing
the net profit/(Loss) attributable to the equity holders of the Company
by the weighted average number of equity shares considered for
deriving basic earnings per equity share and also the weighted
average number of equity shares that could have been issued upon

conversion of all dilutive potential equity shares. The dilutive potential
equity shares are adjusted for the proceeds receivable had the equity
shares been actually issued at fair value (i.e. the average market value
of the outstanding equity shares). Dilutive potential equity shares are
deemed converted as of the beginning of the period, unless issued
at a later date. Dilutive potential equity shares are determined
independently for each period presented. The number of equity shares
and potentially dilutive equity shares are adjusted retrospectively for
all periods presented for any share splits and bonus shares issues
including for changes effected prior to the approval of the standalone
financial statements by the Board of Directors.

|xxi| Dividend distribution to equity shareholders of the
Company:

The Company recognises a liability to make dividend distributions to its
equity holders when the distribution is authorised and the distribution
is no longer at its discretion. A corresponding amount is recognised
directly in equity.

|xxii| Cash Flow Statement:

Cash flows are reported using the indirect method, whereby profit
for the period is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Group are segregated.

|xxiii| Segment Reporting:

Operating segments are reported in a manner consistent with the
internal reporting provided to the chief operating decision maker.

• identification of segments:

In accordance with Ind AS 108- Operating Segment, the
operating segments used to present segment information are
identified on the basis of information reviewed by the Company''s
management to allocate resources to the segments and assess
their performance. An operating segment is a component of the
Company that engages in business activities from which it earns
revenues and incurs expenses, including revenues and expenses
that relate to transactions with any of the Company''s other
components. Results of the operating segments are reviewed
regularly by the management team (chairman and chief
financial officer) which has been identified as the chief operating
decision maker (CODM), to make decisions about resources to
be allocated to the segment and assess its performance and for
which discrete financial information is available.

Based on the "management approach” as set out in IND AS
108, the Company''s CODM reviews the operations as a single
reportable segment engaged in the manufacturing and services
provided by the Company, within a single geographical area
(India).

Accordingly:

• No separate segment information is required to be presented in
these financial statements.

• All revenues, expenses, assets and liabilities relate to the single
reportable segment.

(xxivj investments in subsidiaries, associates and joint
ventures:

Investments in Subsidiaries, Associates and Joint Ventures are carried
at cost less accumulated impairment losses, if any. Where an indication
of impairment exists, the carrying amount of the investment is assessed
and written down immediately to its recoverable amount. On disposal
of investments in subsidiaries, associates and joint venture, the
difference between net disposal proceeds and the carrying amounts
are recognised in the Statement of Profit and Loss.

(xxv) Cash and Cash Equivalents:

Cash and cash equivalent in the balance sheet comprise cash at banks
and on hand and short-term deposits with an original maturity of three
months or less, which are subject to an insignificant risk of changes in
value.

(xxvi) Translation of Foreign Currency Transactions:

In preparing the financial statements of the Company, transactions
in currencies other than the entity''s functional currency (foreign
currencies) are recognized at the rates of exchange prevailing at
the dates of the transactions. At the end of each reporting period,
monetary items denominated in foreign currencies are retranslated at
the rates prevailing at that date. Non-monetary items carried at fair
value that are denominated in foreign currencies are retranslated at
the rates prevailing at the date when the fair value was determined.
Non-monetary items that are measured in terms of historical cost in
a foreign currency are not retranslated. Exchange differences on
monetary items are recognized in profit or loss in the period in which
they arise.

(xxvii) Exceptional items:

Exceptional items refer to items of income or expense, within the
statement of profit and loss from ordinary activities which are non¬
recurring and are of such size, nature or incidence that their separate
disclosure is considered necessary to explain the performance of the
Company.

2.3 Use of estimates and judgements:

The preparation of the Company''s financial statements requires
management to make judgments, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets and liabilities,
and the accompanying disclosures including contingent liabilities.
The estimates and associated assumptions are based on experience
and other factors that management considers to be relevant. Actual
results may significantly differ from these estimates. The estimates
and underlying assumptions are reviewed on an ongoing basis by
the management of the Company. 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.
Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of
assets or liabilities affected in future periods.

Key Sources of Estimation uncertainty:

The key assumptions concerning the future and other key sources of
estimation uncertainty and judgements 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. Existing circumstances and assumptions about future
developments 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. Useful lives and residual value of property, plant and
equipment:

In case of the solar power plant, the life of the assets has been
estimated at 15 years based on technical assessment, taking into
account the nature of the assets, the estimated usage of the asset, the
operating condition of the asset, anticipated technological changes,
manufacturer warranties and maintenance support, except for some
major components identified during the year, depreciation on the
same is provided based on the useful life of each such component
based on technical assessment, if materially different from that of the
main asset.

b. Fair value measurement of financial instruments:

In estimating the fair value of financial assets and financial liabilities,
the Company uses market observable data to the extent available.
Where such Level 1 inputs are not available, the Company establishes
appropriate valuation techniques and inputs to the model. The inputs
to these models are taken from observable markets where possible,
but where this is not feasible, a degree of judgment is required in
establishing fair values. Judgments include considerations of inputs
such as liquidity risk, credit risk and volatility. Changes in assumptions
about these factors could affect the reported fair value of financial
instruments.

All assets and liabilities for which fair value is measured or disclosed in
the financial statements are categorised within the fair value hierarchy,
described as follows, based on the lowest level input that is significant
to the fair value measurement as a whole:

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

Level 2: Valuation techniques for which the lowest level input that
is significant to the fair value measurement is directly or indirectly
observable.

Level 3: Valuation techniques for which the lowest level input that is
significant to the fair value measurement is unobservable.

c. Defined benefit plans (gratuity benefits):

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.

d. Taxes:

Significant management judgment is required to determine the amount
of deferred tax assets that can be recognised, based upon the likely
timing and the level of future taxable profits together with future tax
planning strategies and future recoverability of deferred tax assets.
The amount of the deferred income tax assets considered realisable
could reduce if the estimates of the future taxable income are reduced.
In assessing the recoverability of deferred tax assets, the Company
relies on the same forecast assumptions used elsewhere in the financial
statements.

e. impairment of non-financial assets:

For determining whether property, plant and equipment are impaired,
it requires an estimation of the value in use of the relevant cash
generating units. The value in use calculation is based on a Discounted
Cash Flow model over the estimated useful life of the Power Plants.
Further, the cash flow projections are based on estimates and
assumptions relating to tariff, operational performance of the Plants,
life extension plans, exchange variations, inflation, terminal value etc.
which are considered reasonable by the Management.

f. impairment of financial assets:

The impairment provisions for trade receivables are made considering
simplified approach based on assumptions about risk of default and
expected loss rates. The Company uses judgement in making these
assumptions and selecting the inputs to the impairment calculation
based on the Company''s past history and other factors at the end of
each reporting period. In case of other financial assets, the Company
applies general approach for recognition of impairment losses wherein
the Company uses judgement in considering the probability of default
upon initial recognition and whether there has been a significant
increase in credit risk on an ongoing basis throughout each reporting
period.

g. Recognition and measurement of provision and
contingency:

The Company recognises a provision if it is probable that an outflow
of cash or other economic resources will be required to settle the
provision. If an outflow is not probable, the item is treated as a
contingent liability. Risks and uncertainties are taken into account in
measuring a provision.

h. identification of a lease:

Management assesses applicability of Ind AS 116 - ''Leases'', for PPAs.
In assessing the applicability, the management exercises judgement in
relation to the underlying rights and risks related to operations of the
plant, control over design of the plant etc., in concluding that the PPA
do not meet the criteria for recognition as a lease.

i. Leases-estimating the incremental borrowing rate:

The Company cannot readily determine the interest rate implicit in the
lease, therefore, it uses its incremental borrowing rate (IBR) to measure
lease liabilities. The IBR is the rate of interest that the Company would
have to pay to borrow over a similar term, and with a similar security,
the funds necessary to obtain an asset of a similar value to the right-of-
use asset in a similar economic environment. The IBR therefore reflects
what the Company ''would have to pay'', which requires estimation
when no observable rates are available or when they need to be
adjusted to reflect the terms and conditions of the lease. The Company
estimates the IBR using observable inputs (such as market interest
rates) when available and is required to make certain entity-specific
estimates.

2.4 Standard issued but not effective:

The Ministry of Corporate Affairs (MCA), as part of India''s continued
convergence with IFRS, has initiated the process for introduction of Ind
AS 118 - Presentation and Disclosure in Financial Statements, which is
converged with IFRS 18 issued by the IASB in April 2024. Ind AS 118
is intended to replace Ind AS 1 (Presentation of Financial Statements)
and focuses on improving how entities present and communicate
financial performance, particularly in the Statement of Profit and Loss.

This standard is proposed to be applicable for annual reporting
periods beginning on or after 1 April 2027, subject to final notification
by the MCA through amendment to the Companies (Indian Accounting
Standards) Rules.

2.5 Recent accounting pronouncements:

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.

In May 2025, MCA notified amendments to Ind AS 21 - The Effects
of Changes in Foreign Exchange Rates, applicable w.e.f. April 1,
2025. The Company has reviewed the amendment and based on its
evaluation has determined that it does not have any significant impact
in its financial statements.

in August 2025, MCA notified the following
amendments to:

1. Ind AS 1, Presentation of Financial Statements, applicable w.e.f.
April 1, 2025 - The amendment relates to classification of
liabilities as current or non-current and non-current liabilities with
covenants. In the context of classifying a liability as current, it
removes the requirement of existence of a right to defer settlement
for at least 12 months after the reporting date and instead
requires that the said right should exist on the reporting date and
have substance. The amendment also introduces guidance on
classification of liabilities with covenants. The Company has no
impact of these amendments in its classification criteria of current
and non-current liabilities.

2. Ind AS 7, Statement of Cash Flows and Ind AS 107, Financial
Instruments: Disclosures, applicable w.e.f. April 1, 2025 - The
amendment in Ind AS 7 requires to inform users of financial
statements of the existence of supplier finance arrangements and
explain the nature of the arrangements, the carrying amount of
liabilities and the range of payment due dates. Ind AS 107 has
been amended to add supplier finance arrangements as a factor
that may cause concentration of liquidity risk. The Company
has reviewed the amendment and based on its evaluation has

determined that it does not have any significant impact in its
financial statements.

3. Ind AS 12, International Tax Reform - Pillar Two Model Rules
applicable immediately - The amendments provide a temporary
mandatory relief from deferred tax accounting for top-up tax and
disclose that they have applied the relief. This relief is immediate
and applies retrospectively.

Terms/Rights Attached to Equity Shares:

The Company has only one class of equity shares having a par value of '' 5 each. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company, the holder 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.

Details of Convertible Securities:

The Company has not issued any securities convertible into equity or preference shares.

Details of Shares Reserved for Employees Stock Options:

The Company has not reserved any shares for employees stock options.

The Company has taken the Cash credit facilities from State Bank of India for '' 6200 Lakhs ('' 6200 Lakhs) and Bank Guarantee and Letter
of credit for '' 4250.00 Lakhs ('' 4250 Lakhs) which is secured by hypothecation and first pari passu charge over the entire current assets of
the Company both present and future comprising of raw material, semi finished goods, finished goods, stock in progress, stores and spares,
receivables and entire cash flows of the Company. The said working capital facility has been reviewed during the year. The rate of interest on the
Cash Credit facility from bank is 6 M MCLR spread of 0.75% i.e. 9.35% on monthly rests. The same is further secured by collateral securities of
commercial and residential immovable properties of the Company and director and family members of the Directors. The borrowings are further
secured by personal guarantee of Directors and family members of directors. Equitable Mortgage and 1^st exclusive charge on lien on Fixed
Deposit and Hypothecation of Plant and Machinery.

The Company has taken the Cash credit facilities from Axis Bank for '' 9275 Lakhs and Working Capital Demand Loan of '' 9275 lakhs as a
sublimit of Cash Credit & Bank Guarantee and Letter of credit for '' 1000 Lakhs each as a sublimit of Cash Credit. The rate of interest applicable to
the Cash Credit facilities is 6M MCLR 0% spread (presently 9.10% p.a.), payable at monthly intervals. All the facilities are secured by first pari
passu charge on all current assets (present and future) and exclusive charge on Fixed Deposit with coverage of 15%. The borrowings are further
secured by personal guarantee of Directors- Mr. Faruk G. Patel and Mr. Hassan Faruk Patel.

The Company has taken the Cash credit facilities from ICICI Bank for '' 3500 Lakhs and Bank Guarantee and Letter of credit for '' 1500 Lakhs. The
rate of Interest applicable to Cash Credit Facilities is 6M MCLR Spread per annum. As on the date MCLR 6M is 8.30% and Spread is 0.50%.
All the facilities are secured by first pari passu charge on commercial and residential immovable properties of the Company and director and
family members of the Directors and exclusive charge on Fixed Deposit with the bank. The borrowings are further secured by personal guarantee
of Directors and family members of directors.

The Company has taken Purchase Bill Discounting (PBD) and Short-Term Revolving Loan (STRL) from Bajaj Finance Limited for '' 2000 Lakhs.
The effective rate of Interest applicable to said Facilities is 9% p.a. floating rate linked with 3 months SBI MCLR which is 8.55% as on date plus
spread of 0.45%. All the facilities are secured by first pari passu charge on the entire current assets of the Company along with existing lenders
and exclusive charge on 10% Cash Margin. The borrowings are further secured by personal guarantee of Directors - Mr. Faruk G. Patel and
Mr. Hassan Faruk Patel.

i) Investment in equity instruments of subsidiaries, joint ventures and associates has been accounted at cost in accordance with Ind AS 27.
Therefore not within the scope of Ind AS 109, hence not included here.

ii) Fair value of financial assets and liabilities measured at amortised cost is not materially different from its carrying value. Further, impact of
time value of money is not significant for the financial instruments classified as current. Accordingly, the fair value has not been disclosed
separately.

iii) Trade Receivables, Cash and Cash equivalents, Other bank balance, Other financial assets, Borrowings (including through bonds), Trade
Payables and Other Current Financial Liabilities: Fair values approximate their carrying amounts largely due to fixed maturities of these
instruments.

ii) Fair values hierarchy:

Financial assets and financial liabilities measured at fair value in the balance sheet are categorized into three levels of fair value hierarchy. The

three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: 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 rely as little as possible on entity specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

The management assessed that security deposits, loan to related parties,
other financial assets and other financial liabilities approximate their
carrying amounts largely due to the short-term maturities and without
any specific repayment schedule of these instruments. The fair value of
the financial assets and liabilities is 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:

(i) Long-term fixed-rate and variable-rate receivables are evaluated
by the Company based on parameters such as interest rates,
individual creditworthiness of the customer and other market
risk factors. Based on this evaluation, allowances are taken into
account for the expected credit losses of these receivables.

(ii) All the other long term borrowing facilities availed by the
Company are variable rate facilities which are subject to
changes in underlying Interest rate indices. Further, the credit
spread on these facilities are subject to change with changes in
Company''s creditworthiness. The management believes that the
current rate of interest on these loans are in close approximation
from market rates applicable to the Company. Therefore, the
management estimates that the fair value of these borrowings
are approximate to their respective carrying values.

42.1 FINANCIAL RISK MANAGEMENT
(i) Risk management framework:

The Company''s risk management activities are subject to the
management direction and control under the framework of Risk
Management Policy as approved by the Board of Directors of the
Company. The Management ensures appropriate risk governance
framework for the Company through appropriate policies and
procedures so that risks are identified and measured properly.
The Company''s financial liabilities comprise mainly of borrowings
from banks, financial institutions, borrowings against issue of bonds

and inter corporate deposits including interest accrued, leases, trade,
capital and other payables. The Company''s financial assets (other
than derivatives) comprise mainly of investments in subsidiaries and
other investments in mutual funds, cash and cash equivalents, other
balances with banks, loans, trade receivables and other receivables.

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

¦ Credit risk

¦ Liquidity risk

¦ Market risk

a) 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 carrying amount of financial assets represents the maximum credit
exposure.

Credit risk management:

The Company assesses and manages credit risk based on internal
credit rating system, continuously monitoring defaults of customers and
other counterparties, identified either individually or by the Company,
and incorporates this information into its credit risk controls. Internal
credit rating is performed for each class of financial instruments with
different characteristics. The Company assigns the following credit
ratings to each class of financial assets based on the assumptions,
inputs and factors specific to the class of financial assets.

A: Low
B: Medium
C: High

Cash and cash equivalents and other bank balances:

Credit risk related to cash and cash equivalents and bank deposits is
managed by only accepting highly rated banks and diversifying bank
deposits and accounts in different banks.

Trade receivables:

The Company closely monitors the credit-worthiness of the debtors
through internal systems that are configured to define credit limits of
customers, thereby, limiting the credit risk to pre-calculated amounts.
The Company assesses increase in credit risk on an ongoing basis for
amounts receivable that become past due and default is considered to
have occurred when amounts receivable become past due one year.

Other Financial Assets:

Other financial assets measured includes deposits with banks,
investments in mutual funds, loans and advances to employees and
others, deposits and other recoverable. Credit risk related to these
other financial assets is managed by monitoring the recoverability
of such amounts continuously, while at the same time internal control
system in place ensure the amounts are within defined limits.

B) Liquidity risk:

Liquidity risk is the risk that the Company will encounter difficulty
in meeting the obligations associated with its financial liabilities.
The Company monitors its risk of shortage of funds using cash
flow forecasting models and matching profiles of financial assets
and liabilities. These models consider the maturity of its financial
investments, committed funding and projected cash flows from

Company''s operations including those of subsidiaries in the form of
advance against supplies. The Company''s objective is to provide
financial resources to meet its business objectives in a timely, cost
effective and reliable manner and to manage its capital structure,
including maturity profile of borrowings and requirement of working
capital funds. Having regard to the nature of the business wherein the
Company is able to generate regular cash flows over a period of time,
any surplus cash generated, over and above the amount required for
working capital management and other operational requirements, is
retained as cash and cash equivalents (to the extent required) and any
excess is invested in highly marketable mutual funds with appropriate
maturities to optimise the cash returns on investments while ensuring
sufficient liquidity to meet its liabilities.

The Company expects to generate positive cash flows from operations
apart from strategic funding from share holders in order to meet its
external financial liabilities as they fall due and also consistently
monitors funding options available in the debt and capital market with
a view to maintain financial flexibility.

Prudent liquidity risk management implies maintaining sufficient cash
and marketable securities and the availability of funding through an
adequate amount of committed credit facilities to meet obligations
when due. Due to the nature of the business, the Company maintains
flexibility in funding by maintaining availability under committed
facilities. Management monitors rolling forecasts of the Company''s
liquidity position and cash and cash equivalents on the basis of
expected cash flows. The Company takes into account the liquidity of
the market in which the Company operates.

Maturities of financial liabilities:

The tables below analyze the Company''s financial liabilities into relevant maturity of the Company based on their contractual maturities for all
non-derivative financial liabilities.

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as
the impact of discounting is not significant.

C) Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk
comprises three types of risk: interest rate risk, currency risk and price 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.
During the year, the Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations such
as term loans from financial institution/banks with floating interest rates.

The Company''s policy is to minimise interest rate cash flow risk exposures on long-term financing. As at March 31, 2026, the Company is exposed
to changes in market interest rates through bank borrowings at variable interest rates.

Sensitivity:

The sensitivity analysis have been carried out based on the exposure to interest rates for instruments not hedged against interest rate fluctuations at
the end of the reporting periods. The said analysis has been carried on the amount of floating rate current borrowings outstanding at the end of the
reporting period. A 50 basis point increase or decrease represents the management''s assessment of the reasonably possible change in interest rates.
In case of fluctuation in interest rates by 50 basis points and all other variable held constant, the Company''s Profit/loss for the year would increase
or decrease as follows:

The year end balances are not necessarily representative of the average debt outstanding during the year.

The Company''s fixed deposits are carried at amortised cost and are fixed rate deposits. 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.

c) Price risk:

Exposure:

The Company''s exposure price risk arises from investments held and classified in the balance sheet either as fair value through other comprehensive
income or at fair value through profit or loss. To manage the price risk arising from investments, the Company diversifies its portfolio of assets.

The Company does not have any significant investments in equity instruments which create an exposure to price risk.

42.2 CAPITAL MANAGEMENT

The Company''s objectives for managing capital is to safeguard continuity and healthy capital ratios in order to support its business and provide
adequate return to shareholders through continuing growth. The Company''s overall strategy remains unchanged from previous year.

The Company determine the amount of capital required on the basis of annual business and long-term operating plans which include capital and
other strategic investments through subsidiaries and obligation to lenders based on maturity profile. The funding requirements are met through a
mixture of equity, debt, internal fund generation and other non - current/current borrowings. The Company''s policy is to use current and non -
current borrowings to meet anticipated funding requirements including preferential allotment of equity to promoter shareholder through warrants
in current year. The Company monitors capital on the basis of the net debt to equity ratio (Capital Gearing ratio).

The Company believes that it will able to meet all its current liabilities and interest obligations in timely manner. The Company''s capital management
ensure that it meets financial covenants attached to the interest bearing loans and borrowings that define capital structure requirements. Breaches
in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial
covenants of any interest bearing loans and borrowings in the current year. No changes were made in the objectives, policies or processes for
managing capital by the Company.

45. SEGMENT REPORTING

The Company is operating in single geographical area i.e. India therefore, it is not identifiable as reportable geographical segment. The Company
has been engaged in business of galvanisation of structures as well as it is engaged in providing services of fault rectification team, Patrolling of
Optical Fiber Cables, Site Clearance Work, Solar Roof-top installation, Sale of solar electricity, EPC, Mobile tower Manufacturing and Turnkey
Service Provider to Mobile and Renewable Energy Industry. Therefore, there are two different segments identified on the basis of business activities
i.e Sale of Product and sale of Service. However, as per the financial records the total revenue of the Company is 1,24,556.89 Lakhs whereas
the total revenue from the sale of services is 103.04 lakhs. Thus, the revenue from the sale of services is less than 10% of the total revenue of both
the segments. Further as per the financial data and other information available, the net result of sales of services is also less than 10% of the total
result of both the products. Moreover, the total assets of the Company are commonly used for the entire business activity of the Company and
therefore Segment wise identification of assets is not feasible. Hence the sale of services is not identifiable as reportable business segment in view
of the provisions of para 13 of IND AS 108. Therefore, no segment reporting is given.

48. CONTINGENT LIABILITIES AND
COMMITMENTS NOT PROVIDED FOR:

The Company has not provided for any contingent liability in standalone
financial statements. The Company has paid advance for property of
'' 547.25 lakhs to Mukesh Engineering Industries during FY16 and
FY17 and due to the dispute with the party, the Company has filed
arbitration and as per the arbitration award dated 17/09/2019 the
said party was required to pay this amount along with interest thereon
as awarded by the arbitrator. Presently the matter has been litigated
and pending before Hon''ble Gujarat High Court.

The Company has entered into the transactions with the vendors who
were registered under the MSME Act, 2006. Out of these vendors,
the Company has identified some vendors in whose case the payment
was delayed beyond the appointed date and accordingly interest
is payable as per the provisions of Section 16 of the MSME Act,
2006. However, the said vendors have not demanded any interest
on delayed payments during the year nor till the date of reporting
and hence no provision has been made in the standalone financial
statements since there is no constructive obligation in respect of the
probable outflow of interest payment.

49. EMPLOYEE BENEFIT PLANS:Defined Contribution Plans:

The Company makes specified monthly contributions towards
employee provident fund to Government administered provident
fund scheme which is a defined contribution plan. The Company''s
contribution is recognized as an expense in the statement of profit
and loss during the period in which the employee renders the
related service.

The amount recognized as an expense towards contribution
to provident fund for the year aggregated to '' 60.78 Lakhs
(''30.53 Lakhs).

The amount recognised as an expense towards contribution to ESI for
the year aggregated to '' 1.42 Lakhs ('' 2.07 Lakhs).

Company adopted Indian Accounting Standard 19 "Employee
Benefits” (''IND AS 19'') as specified in Rule 7 of the Companies
(Accounts) Rules, 2014.

Defined Benefit Plans:

The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which provides a lump sum payment to vested
employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and the
tenure of employment.

The Company has a defined benefit gratuity plan (unfunded) and is governed by the Payment of Gratuity Act, 1972. Under the Act, every
employee who has completed at least five year of service is entitled to gratuity benefits on departure at 15 days salary (last drawn salary) for
each completed year of service. The scheme is funded.

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the
reporting period, while holding all other assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in the Defined Benefit Obligation as it is unlikely that the
change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the Defined Benefit Obligation has been calculated using the
projected unit credit method at the end of the reporting period,which is the same method as applied in calculating the Defined Benefit Obligation
as recognised in the balance sheet.

There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

50. The details of loans of the Company outstanding at the end of the year, in terms of regulation 53 (F) & 34(3) read together with para A of
Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and as per section 186(4) of the Companies Act, 2013.

51 . The Company uses an accounting software for maintaining its
books of account 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 accounting software except
the Fixed Asset Module. During the year the Company has shifted
from the old ERP system to the new ERP system i.e. SAP S4/HANA in
which the Fixed Asset module of the ERP system was not configured
and operational as at 31 March 2026. Consequently, the Fixed Asset
details were maintained outside the accounting software through
manual records and supporting schedules along with necessary
evidences. The feature of recording audit trail (edit log) facility was

not enabled to that extent at the database level to log any direct data
changes and at application layer for the accounting software used for
maintaining the books of account relating to Fixed Assets throughout
the year. The integration of Fixed Assets Register with the Company''s
accounting software is under development and hence the audit trail
(edit log) is not enabled to that extent. Further, there is no instance
of audit trail feature being tampered with in respect of the accounting
software where such feature is enabled. Additionally, the audit trail
of relevant prior years has been preserved for record retention to the
extent it was enabled and recorded in those respective years by the
Company as per the statutory requirements for record retention.

As mentioned above while implementing the new ERP system i.e. SAP S4/HANA, certain system related technical and configuration issues were
encountered, particularly in relation to the automatic clearing and matching functionality of the Goods Receipt/Invoice Receipt (GR/IR) Clearing
Account. Consequently, the GR/IR Clearing Account reflected an outstanding balance as at 31 March 2026. However, all the transactions
have been duly posted to the respective ledger accounts and that the balance appearing in the Goods Clearing Account as at the balance
sheet date arose due to a technical/system-related issue. The Company performed a review and reconciliation of the transactions forming part
of the outstanding balance in the GR/IR Clearing Account and appropriate manual accounting entries were passed in the books of account.
Accordingly, the management of the Company has considered the effect of such balance in finalizing the financial results for the year and in the
preparation of the financial statements.

52. ADDITIONAL REGULATORY INFORMATION PURSUANT TO THE PROVISIONS OF SCHEDULE III OF
THE COMPANIES ACT, 2013

(i) During the year, the Company has not owned any immovable properties whose title deeds are not held in the name of the Company.

(ii) During the year, Company has not revalued any Property, Plant and Equipment or Intangible Asset.

(iii) During the year, the Company has not hold any investment property.

(iv) The Company has not granted any loan or advance in nature of loan to promoters, directors, key managerial personnel and related parties
as defined under the Companies Act, 2013 either severally or jointly with any other person that is (a) repayable on demand; or (b) without
specifying any terms or period of repayment.

(v) The Company has been sanctioned working capital limits in excess of five crores rupees in aggregate from banks and financial institutions
on the basis of security of current assets of the Company. The quarterly returns/statements filed by the Company with such banks/financial
institutions in respect of gross value of current assets, are not in agreement with the books of accounts of the Company in the following cases:

The contribution to a section 8 Company controlled by the Company
has been used for following activities:

(i) Promoting Education.

(ii) Promoting health care including preventive health care.

(iii) Setting up homes and hostels for women and orphans.

(iv) Setting up old age homes, day care centres and such other
facilities for senior citizens.

(v) Welfare of the schedule caste, tribes, other backward classes,
minorities and women.

53. THE CODE ON SOCIAL SECURITY, 2020

On November 21, 2025, the Government of India notified the
four Labour Codes - 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
- consolidating 29 existing labour laws. The Ministry of Labour &
Employment published draft Central Rules and FAQs to enable
assessment of the financial impact due to changes in regulations. The
Company has considered restructured compensation of its employees
with effect from April 1, 2026, and assessed the impact of the changes,
consistent with the Labour Codes, draft rules, FAQs and legal opinion.
The Company continues to monitor the finalisation of Central/State
Rules and clarifications from the Government on other aspects of the
Labour Code and would provide appropriate accounting effect on the
basis of such developments as needed.

54. 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 do not have any charges or satisfaction which is
yet to be registered with ROC beyond the statutory period.

(iii) The Company have not traded or invested in Crypto currency or
Virtual Currency during the financial year.

(iv) No funds have been advanced/loaned/invested (from
borrowed funds or from share premium or from any other
sources/kind of funds) by the Company to any other person(s)
or entity(ies), including foreign entities (Intermediaries), with the
understanding (whether recorded in writing or otherwise) that
the Intermediary shall (i) directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever
by or on behalf of the Company (Ultimate Beneficiaries) or (ii)
provide any guarantee, security or the like to or on behalf of the
Ultimate Beneficiaries.

No funds have been received by the Company from any
person(s) or entity(ies), including foreign entities (Funding
Parties), with the understanding (whether recorded in writing or
otherwise) that the Company shall (i) directly or indirectly, lend
or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries.

(v) The Company is in compliance with the number of layers
prescribed under clause (87) of section 2 of the Companies Act,
2013 read with the Companies (Restriction on number of Layers)
Rules, 2017 (as amended).

(vi) 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).

(vii) No Scheme of Arrangements has been approved by the
Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the year. Hence, the requirements
of disclosure of effect of such Scheme of Arrangements in
the books of account in accordance with the Scheme and in
accordance with accounting standards are not applicable.

55. SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the financial statements
to determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. As of May 8, 2026,
there are no subsequent events to be recognised or reported.

56. APPROVAL OF STANDALONE FINANCIAL STATEMENTS

The Standalone financial statements were approved for issue by the Board of Directors on May 8, 2026.

57. The figures for the corresponding previous year have been regrouped/reclassified wherever necessary, to make them comparable.

(xviii) Provisions, Contingent Liabilities and Contingent
Assets:

The amount recognised as a provision is the best estimate of the
consideration required to settle the present obligation at the end of
the reporting period, taking into account the risks and uncertainties
surrounding the obligation. Provisions are determined by discounting
the expected future cash flows (representing the best estimate of the
expenditure required to settle the present obligation at the balance
sheet date) at a pre-tax rate that reflects current market assessments
of the time value of money and the risks specific to the liability. When
the Company expects some or all of a provision to be reimbursed,
for example, under an insurance contract, the reimbursement is
recognised as a separate asset, but only when the reimbursement
is virtually certain. The expense relating to a provision is presented
in the Statement of Profit and Loss net of any reimbursement. The
unwinding of the discount is recognised as finance cost. Expected
future operating losses are not provided for.

A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control
of the Company or a present obligation that is not recognised because
it is not probable that an outflow of resources will be required to settle
the obligation or a reliable estimate of amount cannot be made.

Contingent liabilities may arise from litigation, taxation and other
claims against the Company. The contingent liabilities are disclosed
where it is management''s assessment that the outcome of any litigation
and other claims against the Company is uncertain or cannot be
reliably quantified, unless the likelihood of an adverse outcome is
remote.

A contingent liability recognised in a business combination is initially
measured at its fair value. Subsequently, it is measured at the higher
of the amount that would be recognised in accordance with the
requirements for provisions above or the amount initially recognised
less, when appropriate, cumulative amortisation recognised in
accordance with the requirements for revenue recognition.

Contingent assets are not recognised but are disclosed in the notes
where an inflow of economic benefits is probable.

The company has the policy to provide interest on delayed payments
to MSME vendors as per the provisions of Section 16 of the MSME
Act, 2006. Accordingly, the company recognizes the interest liability
only when a present obligation exists on account of the demand
raised by the vendor or when it is probable that the interest is required
to be paid. On the basis of the past experience and published policies
of the company, if there is no constructive obligation in respect of the
probable outflow of the interest payment, the same is disclosed as
contingent liability.

(xix) Impairment of non-financial assets:

The Company reviews the carrying amounts of non-financial assets
to determine whether there is any indication that those assets
have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determine
the extent of the impairment loss (if any). When it is not possible to
estimate the recoverable amount of an individual asset, the Company
estimates the recoverable amount of the cash-generating unit to
which the asset belongs. Each CGU represents the smallest Group
of assets that generates cash inflows that are largely independent of
the cash inflows of other assets or CGUs. When a reasonable and
consistent basis of allocation can be identified, corporate assets are
also allocated to individual cash-generating units, or otherwise they
are allocated to the smallest group of cash-generating units for which
a reasonable and consistent allocation basis can be identified.

The Company bases its impairment calculation on detailed budget
and forecast calculations, which are prepared separately for each
of the Company''s cash-generating unit to which the individual
assets are allocated. For longer periods, a long term growth rate is
calculated and applied to project future cash flows. To estimate cash
flow projections beyond periods covered by the most recent budget/
forecasts, the Company estimates cash flow projections based on
estimated growth rate.

If the recoverable amount of an asset (or cash-generating unit) is
estimated to be less than its carrying amount, the carrying amount
of the asset (or CGU) is reduced to its recoverable amount. An
impairment loss is recognised immediately in the Statement of Profit
and Loss.

(xx) Earnings per share:

Basic earnings per equity share is computed by dividing the net
profit/(loss) attributable to the equity holders of the Company by the
weighted average number of equity shares outstanding during the
period. Diluted earnings per equity share is computed by dividing the
net profit/(Loss) attributable to the equity holders of the Company
by the weighted average number of equity shares considered for
deriving basic earnings per equity share and also the weighted
average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares. The dilutive potential
equity shares are adjusted for the proceeds receivable had the equity
shares been actually issued at fair value (i.e. the average market
value of the outstanding equity shares). Dilutive potential equity
shares are deemed converted as of the beginning of the period,
unless issued at a later date. Dilutive potential equity shares are
determined independently for each period presented. The number
of equity shares and potentially dilutive equity shares are adjusted
retrospectively for all periods presented for any share splits and bonus
shares issues including for changes effected prior to the approval of
the standalone financial statements by the Board of Directors.

(xxi) Dividend distribution to equity shareholders of the
Company:

The Company recognises a liability to make dividend distributions
to its equity holders when the distribution is authorised and the
distribution is no longer at its discretion. A corresponding amount is
recognised directly in equity.

(xxii) Cash Flow Statement:

Cash flows are reported using the indirect method, whereby profit for
the period is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows from operating,
investing and financing activities of the Group are segregated.

(xxiii) Segment Reporting:

Operating segments are reported in a manner consistent with the
internal reporting provided to the chief operating decision maker.

• Identification of segments:

In accordance with Ind AS 108- Operating Segment, the
operating segments used to present segment information are
identified on the basis of information reviewed by the Company''s
management to allocate resources to the segments and assess
their performance. An operating segment is a component of
the Company that engages in business activities from which it
earns revenues and incurs expenses, including revenues and
expenses that relate to transactions with any of the Company''s
other components. Results of the operating segments are
reviewed regularly by the management team (chairman
and chief financial officer) which has been identified as the
chief operating decision maker (CODM), to make decisions
about resources to be allocated to the segment and assess its
performance and for which discrete financial information is
available.

Based on the "management approach” as set out in IND
AS 108, the Company''s CODM reviews the operations as
a single reportable segment engaged in the manufacturing
and services provided by the company, within a single
geographical area (India).

Accordingly:

• No separate segment information is required to be presented in
these financial statements.

• All revenues, expenses, assets and liabilities relate to the single
reportable segment.

(xxiv) Investments in subsidiaries, associates and joint
ventures:

Investments in Subsidiaries, Associates and Joint Ventures are carried
at cost less accumulated impairment losses, if any. Where an indication
of impairment exists, the carrying amount of the investment is assessed
and written down immediately to its recoverable amount. On disposal
of investments in subsidiaries, associates and joint venture, the
difference between net disposal proceeds and the carrying amounts
are recognised in the Statement of Profit and Loss.

(xxv) Cash and Cash Equivalents:

Cash and cash equivalent in the balance sheet comprise cash at
banks and on hand and short-term deposits with an original maturity
of three months or less, which are subject to an insignificant risk of
changes in value.

(xxvi) Translation of Foreign Currency Transactions

In preparing the financial statements of the company, transactions
in currencies other than the entity''s functional currency (foreign
currencies) are recognized at the rates of exchange prevailing at
the dates of the transactions. At the end of each reporting period,
monetary items denominated in foreign currencies are retranslated at
the rates prevailing at that date. Non-monetary items carried at fair
value that are denominated in foreign currencies are retranslated at
the rates prevailing at the date when the fair value was determined.
Non-monetary items that are measured in terms of historical cost in
a foreign currency are not retranslated. Exchange differences on
monetary items are recognized in profit or loss in the period in which
they arise.

(xxvii) Exceptional items:

Exceptional items refer to items of income or expense, within the
statement of profit and loss from ordinary activities which are non¬
recurring and are of such size, nature or incidence that their separate
disclosure is considered necessary to explain the performance of the
company.

2.3 Use of estimates and judgements:

The preparation of the Company''s financial statements requires
management to make judgments, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets and liabilities,
and the accompanying disclosures including contingent liabilities.
The estimates and associated assumptions are based on experience
and other factors that management considers to be relevant. Actual
results may significantly differ from these estimates. The estimates
and underlying assumptions are reviewed on an ongoing basis by
the management of the Company. 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.
Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount
of assets or liabilities affected in future periods.

Key Sources of Estimation uncertainty:

The key assumptions concerning the future and other key sources
of estimation uncertainty and judgements 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. Existing circumstances and assumptions
about future developments 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. Useful lives and residual value of property, plant and
equipment

In case of the solar power plant, the life of the assets has been
estimated at 15 years based on technical assessment, taking into
account the nature of the assets, the estimated usage of the asset, the
operating condition of the asset, anticipated technological changes,
manufacturer warranties and maintenance support, except for some
major components identified during the year, depreciation on the
same is provided based on the useful life of each such component
based on technical assessment, if materially different from that of the
main asset.

b. Fair value measurement of financial instruments

In estimating the fair value of financial assets and financial liabilities,
the Company uses market observable data to the extent available.
Where such Level 1 inputs are not available, the Company establishes
appropriate valuation techniques and inputs to the model. The inputs
to these models are taken from observable markets where possible,
but where this is not feasible, a degree of judgment is required in
establishing fair values. Judgments include considerations of inputs
such as liquidity risk, credit risk and volatility. Changes in assumptions
about these factors could affect the reported fair value of financial
instruments.

All assets and liabilities for which fair value is measured or disclosed
in the financial statements are categorised within the fair value
hierarchy, described as follows, based on the lowest level input that is
significant to the fair value measurement as a whole:

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

Level 2 - Valuation techniques for which the lowest level input that
is significant to the fair value measurement is directly or indirectly
observable.

Level 3 - Valuation techniques for which the lowest level input that is
significant to the fair value measurement is unobservable.

c. Defined benefit plans (gratuity benefits)

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.

d. Taxes

Significant management judgment is required to determine the
amount of deferred tax assets that can be recognised, based upon

the likely timing and the level of future taxable profits together with
future tax planning strategies and future recoverability of deferred
tax assets. The amount of the deferred income tax assets considered
realisable could reduce if the estimates of the future taxable income
are reduced. In assessing the recoverability of deferred tax assets, the
Company relies on the same forecast assumptions used elsewhere in
the financial statements.

e. Impairment of non-financial assets

For determining whether property, plant and equipment are impaired,
it requires an estimation of the value in use of the relevant cash
generating units. The value in use calculation is based on a Discounted
Cash Flow model over the estimated useful life of the Power Plants.
Further, the cash flow projections are based on estimates and
assumptions relating to tariff, operational performance of the Plants,
life extension plans, exchange variations, inflation, terminal value etc.
which are considered reasonable by the Management.

f. Impairment of financial assets

The impairment provisions for trade receivables are made considering
simplified approach based on assumptions about risk of default and
expected loss rates. The Company uses judgement in making these
assumptions and selecting the inputs to the impairment calculation
based on the Company''s past history and other factors at the end of
each reporting period. In case of other financial assets, the Company
applies general approach for recognition of impairment losses
wherein the Company uses judgement in considering the probability
of default upon initial recognition and whether there has been a
significant increase in credit risk on an ongoing basis throughout each
reporting period.

g. Recognition and measurement of provision and
contingency

The Company recognises a provision if it is probable that an outflow
of cash or other economic resources will be required to settle the
provision. If an outflow is not probable, the item is treated as a
contingent liability. Risks and uncertainties are taken into account in
measuring a provision.

h. Identification of a lease

Management assesses applicability of Ind AS 116 - ''Leases'', for PPAs.
In assessing the applicability, the management exercises judgement
in relation to the underlying rights and risks related to operations of
the plant, control over design of the plant etc., in concluding that the
PPA do not meet the criteria for recognition as a lease.

i. Leases- estimating the incremental borrowing rate

The Company cannot readily determine the interest rate implicit in the
lease, therefore, it uses its incremental borrowing rate (IBR) to measure
lease liabilities. The IBR is the rate of interest that the Company would
have to pay to borrow over a similar term, and with a similar security,
the funds necessary to obtain an asset of a similar value to the right-
of-use asset in a similar economic environment. The IBR therefore

reflects what the Company ''would have to pay'' which requires
estimation when no observable rates are available or when they need
to be adjusted to reflect the terms and conditions of the lease. The
Company estimates the IBR using observable inputs (such as market
interest rates) when available and is required to make certain entity-
specific estimates.

2.4 Recent accounting pronouncements

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 Ind AS - 117 Insurance
Contracts and amendments to Ind AS 116 - Leases, relating to sale
and leaseback transactions, applicable to the Company w.e.f. April
1, 2024. The Company has reviewed the new pronouncements and
based on its evaluation has determined that it does not have any
significant impact in its financial statements.

3.1 First Time Adoption of Ind As

These standalone financial statements for the year ended March 31,
2025 have been prepared in accordance with the Companies (Indian
Accounting Standards) Rules, 2015 and the relevant provisions of
the Companies Act, 2013 and guidelines issued by Securities and
Exchange Board of India (SEBI) as amended from time to time. For
the purpose of transition to Ind AS, the company has followed the
guidance prescribed in Ind AS 101, First-Time Adoption of Indian
Accounting Standards, with April 01, 2023 as transition date and
IGAAP as the previous GAAP.

The transition to Ind AS has resulted in changes in the presentation
of the financial statements, disclosures in the notes thereto and
accounting policies and principles. The accounting policies set out
in note 2 have been applied in preparing the standalone financial
statements for the year ended March 31, 2025 and the comparative
information. An explanation of how the transition from previous GAAP
to Ind AS has affected the Company''s Balance sheet and Statement
of Profit and Loss, is set out in Note 3.2 and 3.3 Exemptions on the

first-time adoption of Ind AS availed in accordance with Ind AS 101
have been set out in Note 3.1.1.

3.1.1 Exemptions Availed on First-Time Adoption of ind
As 101

Ind AS 101 allows first-time adopters certain exemptions from the
retrospective application of certain requirements under Ind AS. The
company has accordingly applied the following exemptions.

(a) Deemed cost for property, plant and equipment,
investment property and intangible assets

Ind AS 101 permits a first-time adopter to elect to continue with
the carrying value for all of its property, plant and equipment as
recognised in the financial statements as at the date of transition to Ind
AS, measured as per the previous GAAP and use that as its deemed
cost as at the date of transition after making necessary adjustments
for de-commissioning liabilities. This exemption can also be used
for intangible assets covered by Ind AS 38 Intangible Assets and
investment property covered by Ind AS 40 Investment Properties.
Accordingly, the Company has elected to measure all of its property,
plant and equipment, intangible assets and investment property at
their Previous GAAP carrying value.

(b) Deemed cost for investments in subsidiaries, associates
and joint ventures

The Company has elected to continue with the carrying value of
all of its investments in subsidiaries, joint ventures and associates
recognised as of April 01, 2023 (transition date) measured as per the
Previous GAAP as its deemed cost as at the date of transition.

(c) Estimates

An entity''s estimates in accordance with Ind ASs at the date of
transition to Ind AS shall be consistent with estimates made for the
same date in accordance with Previous GAAP (after adjustments to
reflect any difference in accounting policies), unless there is objective
evidence that those estimates were in error. Ind AS estimates as at
April 01, 2023 are consistent with the estimates as at the same date
made in conformity with Previous GAAP.

1. The effect of Transition as at 1^st April, 2023 of increase of '' 85.41 Lakhs in PPE is due to recognition of ROU Assets KP House taken on
lease which were not recognised as per previous GAAP. The corresponding amount is also recognised as lease liability which was not
recognised earlier as per previous GAAP.

2. The effect of Transition as at 1^sl April, 2023 of decrease of '' 3.62 Lakhs in provisions is due to transfer of total amount of gratuity payable
which was recognised as per previous GAAP to other Comprehensive income. The corresponding amount has been increased in other
equity as on 1^sl April, 2023.

3. The effect of Transition as at 31^sl March, 2024 of increase of '' 861.12 Lakhs in PPE is due to recognition of ROU Assets on various leases
which were not recognised as per previous GAAP.

4. The effect of Transition as at 31^st March, 2024 of increase of '' 908.98 Lakhs in lease liability is due to recognition of Lease Liabilities on
various leases which were not recognised as per previous GAAP.

5. The effect of tranition as at 31^st March, 2024 on other equity is explained below in note 3.4

The company has taken the Cash credit facilities from State Bank of India for '' 6200 Lakhs ('' 2100.00 Lakhs) and Bank Guarantee and Letter
of credit for '' 550.00 Lakhs ('' 550.00 Lakhs) which is secured by first pari passu charge on all current assets primarily Stock and Book debts.
The said working capital facility has been reviewed during the year. The rate of interest on the working capital facility from bank is 11.65%
calculated on daily products on monthly rests. However the rate of interest is 2.50% over and above the EBLR i.e. 9.15% which was covered
under the working capital facility. The same is further secured by collateral securities of commercial and residential immovable properties of the
company and director and family members of the Directors. The borrowings are further secured by personal guarantee of Directors and family
members of directors.

The company has taken the Cash credit facilities from Axis Bank for '' 5275 Lakhs and Bank Guarantee and Letter of credit for '' 1000 Lakhs
which is secured by first pari passu charge on all current assets and exclusive charge on Fixed Deposit with coverage of 15%. The borrowings
are further secured by personal guarantee of Directors.

The company has taken the Cash credit facilities from ICICI Bank for '' 3500 Lakhs and Bank Guarantee and Letter of credit for '' 1500 Lakhs
which is secured by first pari passu charge on commercial and residential immovable properties of the company and director and family
members of the Directors and exclusive charge on Fixed Deposit with the bank. The borrowings are further secured by personal guarantee of
Directors and family members of directors.

Investment in equity instruments of subsidiaries, joint ventures and associates has been accounted at cost in accordance with Ind AS 27 Therefore
not within the scope of Ind AS 109, hence not included here.

ii) Fair values hierarchy

Financial assets and financial liabilities measured at fair value in the balance sheet are categorized into three levels of fair value hierarchy. The
three levels are defined based on the observability of significant inputs to the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for financial instruments.

Level 2: 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 rely as little as possible on entity specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

The management assessed that security deposits, loan to related parties, other financial assets and other financial liabilities approximate their
carrying amounts largely due to the short-term maturities and without any specific repayment schedule of these instruments. The fair value of the
financial assets and liabilities is 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:

(i) Long-term fixed-rate and variable-rate receivables are evaluated by the Company based on parameters such as interest rates, individual
creditworthiness of the customer and other market risk factors. Based on this evaluation, allowances are taken into account for the expected
credit losses of these receivables.

The Company''s risk management is carried out by a central treasury
department (of the Company) under policies approved by the board
of directors. The board of directors provides written principles for
overall risk management, as well as policies covering specific areas,
such as interest rate risk, credit risk and investment of excess liquidity.

A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer
or counterparty to a financial instrument fails to meet its contractual
obligations, and arises principally from the Company''s receivables
from customers and investments in debt securities.

- loans & receivables carried at amortised cost, and

- deposits with banks.

a) Credit risk management

The Company assesses and manages credit risk based on internal
credit rating system, continuously monitoring defaults of customers and
other counterparties, identified either individually or by the company,
and incorporates this information into its credit risk controls. Internal
credit rating is performed for each class of financial instruments with
different characteristics. The Company assigns the following credit
ratings to each class of financial assets based on the assumptions,
inputs and factors specific to the class of financial assets.

Cash and cash equivalents and other bank balances

Credit risk related to cash and cash equivalents and bank deposits is
managed by only accepting highly rated banks and diversifying bank
deposits and accounts in different banks.

Trade receivables

The Company closely monitors the credit-worthiness of the debtors
through internal systems that are configured to define credit limits
of customers, thereby, limiting the credit risk to pre-calculated
amounts. The Company assesses increase in credit risk on an
ongoing basis for amounts receivable that become past due and
default is considered to have occurred when amounts receivable
become past due one year.

Other financial assets measured at amortised cost

Other financial assets measured at amortised cost includes loans
and advances to employees, security deposits and others. Credit risk

related to these other financial assets is managed by monitoring the
recoverability of such amounts continuously, while at the same time
internal control system in place ensure the amounts are within defined
limits.

B) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash
and marketable securities and the availability of funding through an
adequate amount of committed credit facilities to meet obligations
when due. Due to the nature of the business, the Company maintains
flexibility in funding by maintaining availability under committed
facilities. Management monitors rolling forecasts of the Company''s
liquidity position and cash and cash equivalents on the basis of
expected cash flows. The Company takes into account the liquidity of
the market in which the company operates.

ii) Assets

The Company''s fixed deposits are carried at amortised cost and are
fixed rate deposits. 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.

c) Price risk
Exposure

The Company''s exposure price risk arises from investments held
and classified in the balance sheet either as fair value through
other comprehensive income or at fair value through profit or loss.
To manage the price risk arising from investments, the Company
diversifies its portfolio of assets.

The Company does not have any significant investments in equity
instruments which create an exposure to price risk.

44.2 Capital management

The Company''s capital management objectives are:

- to ensure the Company''s ability to continue as a going concern

- to provide an adequate return to shareholders

The Company monitors capital on the basis of the carrying amount of
equity less cash and cash equivalents and other bank balances as
presented on the face of balance sheet.

Management assesses the Company''s capital requirements in order
to maintain an efficient overall financing structure while avoiding
excessive leverage. This takes into account the subordination levels of
the Company''s various classes of debt. The Company manages the
capital structure and makes adjustments to it in the light of changes
in economic conditions and the risk characteristics of the underlying
assets. In order to maintain or adjust the capital structure, the
Company may adjust the amount of dividends paid to shareholders,
return capital to shareholders, issue new shares, or sell assets to
reduce debt.

46. SEGMENT REPORTING

The company is operating in single geographical area i.e. Gujarat therefore, it is not identifiable as reportable geographical segment. The
company has been engaged in business of galvanisation of structures as well as it is engaged in providing services of fault rectification team,
Patrolling of Optical Fiber Cables, Site Clearance Work, Solar Roof-top installation, Sale of solar electricity, EPC, Mobile tower Manufacturing
and Turnkey Service Provider to Mobile and Renewable Energy Industry. Therefore, there can be different segments identifiable on the basis of
business activities. However, as per the financial records the total external revenue of the company is 69464.19 Lakhs whereas the total revenue
from the sale of services is 814.08 lakhs. Thus, the revenue from the sale of services is less than 10% of the total revenue of both the segments.
Further as per the financial data and other information available, the net result of sales of services is also less than 10% of the total result of both
the products. Hence the sale of services is not identifiable as reportable business segment in view of the provisions of para 13 of IND AS 108.
Therefore, no segment reporting is given.

49. CONTINGENT LIABILITIES NOT PROVIDED
FOR:

The company has not provided for any contingent liability in
consolidated financial statements. The company has paid advance for
property of '' 547.25 lakhs to Mukesh Engineering Industries during
FY16 and FY17 and due to the dispute with the party, the Holding
company has filed arbitration and as per the arbitration award dated
17/09/2019 the said party was required to pay this amount along
with interest thereon as awarded by the arbitrator. Presently the matter
has been litigated and pending before Hon''ble Gujarat High Court.

The company has entered into the transactions with the vendors who
were registered under the MSME Act, 2006. Out of these vendors,
the company has identified some vendors in whose case the payment
was delayed beyond the appointed date and accordingly interest
is payable as per the provisions of Section 16 of the MSME Act,
2006. However, the said vendors have not demanded any interest
on delayed payments during the year nor till the date of reporting
and hence no provision has been made in the standalone financial
statements since there is no constructive obligation in respect of the
probable outflow of interest payment.

50. EMPLOYEE BENEFIT PLANS:

Defined Contribution Plans:

The Company makes specified monthly contributions towards
employee provident fund to Government administered provident
fund scheme which is a defined contribution plan. The Company''s
contribution is recognized as an expense in the statement of profit
and loss during the period in which the employee renders the related
service.

The amount recognized as an expense towards contribution to
provident fund for the year aggregated to '' 30.53 Lakhs ('' 11.79
Lakhs).

The amount recognised as an expense towards contribution to ESI for
the year aggregated to '' 2.07 Lakhs ('' 1.40 Lakhs).

Company adopted Indian Accounting Standard 19 "Employee
Benefits” (''IND AS 19'') as specified in Rule 7 of the Companies
(Accounts) Rules, 2014.

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the
reporting period, while holding all other assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in the Defined Benefit Obligation as it is unlikely that the
change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the Defined Benefit Obligation has been calculated using the
projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the Defined Benefit Obligation
as recognised in the balance sheet.

There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

51 The Company uses an accounting software for maintaining its books of account 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 accounting software except for the changes that
can be made at the database level to log any direct data changes and at application layer for the accounting software used for maintaining the
books of account relating to Fixed Assets Register throughout the year. The integration of Fixed Assets Register with the company''s accounting
software is under development and hence the audit trail (edit log) is not enabled to that extent. Further, there is no instance of audit trail feature
being tampered with in respect of the accounting software where such feature is enabled. Additionally, the audit trail of relevant prior years has
been preserved for record retention to the extent it was enabled and recorded in those respective years by the Company as per the statutory
requirements for record retention.

52. ADDITIONAL REGULATORY INFORMATION PURSUANT TO THE PROVISIONS OF SCHEDULE
III OF THE COMPANIES ACT, 2013

(i) During the year, the company has not owned any immovable properties whose title deeds are not held in the name of the company.

(ii) During the year, company has not revalued any Property, Plant and Equipment or Intangible Asset.

(iii) During the year, the company has not hold any investment property.

(iv) The Company has not granted any loan or advance in nature of loan to promoters, directors, key managerial personnel and related parties
as defined under the Companies Act, 2013 either severally or jointly with any other person that is (a) repayable on demand; or (b) without
specifying any terms or period of repayment.

(v) The Company has been sanctioned working capital limits in excess of five crores rupees in aggregate from banks and financial institutions
on the basis of security of current assets of the company.The quarterly returns/statements filed by the company with such banks/financial
institutions in respect of gross value of current assets, are not in agreement with the books of accounts of the company in the following
cases-

The company has undertaken following activities towards Corporate
Social Responsibility:

(i) Promoting Education.

(ii) Setting up old age homes, day care centres and such other
facilities for senior citizens.

The contribution to a section 8 Company controlled by the company
has been used for following activities:

(i) Promoting Education.

(ii) Promoting health care including preventinve health care.

(iii) Setting up homes and hostels for women and orphans.

(iv) Setting up old age homes, day care centres and such other
facilities for senior citizens.

(v) Welfare of the schedule caste, tribes, other backward classes,
minorities and women.

53. THE CODE ON SOCIAL SECURITY, 2020

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

54. 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 do not have any charges or satisfaction which is
yet to be registered with ROC beyond the statutory period.

(iii) The Company have not traded or invested in Crypto currency or
Virtual Currency during the financial year.

(iv) No funds have been advanced/ loaned/ invested (from
borrowed funds or from share premium or from any other
sources/ kind of funds) by the Company to any other person(s)
or entity(ies), including foreign entities (Intermediaries), with the
understanding (whether recorded in writing or otherwise) that
the Intermediary shall (i) directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever
by or on behalf of the Company (Ultimate Beneficiaries) or (ii)
provide any guarantee, security or the like to or on behalf of the
Ultimate Beneficiaries.

No funds have been received by the Company from any
person(s) or entity(ies), including foreign entities (Funding
Parties), with the understanding (whether recorded in writing or
otherwise) that the Company shall (i) directly or indirectly, lend
or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries.

(v) The Company is in compliance with the number of layers
prescribed under clause (87) of section 2 of the Companies
Act, 2013 read with the Companies (Restriction on number of
Layers) Rules, 2017 (as amended).

(vi) 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).

(vii) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013
during the year. Hence, the requirements of disclosure of effect of such Scheme of Arrangements in the books of account in accordance
with the Scheme and in accordance with accounting standards are not applicable.

55. SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD

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

56. APPROVAL OF STANDALONE FINANCIAL STATEMENTS

The Standalone financial statements were approved for issue by the Board of Directors on May 14, 2025.

57. THE FIGURES FOR THE CORRESPONDING PREVIOUS YEAR HAVE BEEN REGROUPED/
RECLASSIFIED WHEREVER NECESSARY, TO MAKE THEM COMPARABLE.

In terms of our attached report of even date For and on behalf of the Board

For K A Sanghavi and Co. LLP KP Green Engineering Limited

Chartered Accountants (Formerly known as K P Buildcon Private Limited)

ICAI FRN: 0120846W/W100289

CA Keyur A. Sanghavi Faruk G. Patel Muinulhaque Iqbalhusen Kadva

Partner (Chairman And Director) (Whole Time Director)

M. NO. 109227 DIN: 00414045 DIN: 07661317

ICAI UDIN: 25109227BMIPPV6434

Place: Surat Pravinkumar Singh Saurabh Sharma

Date: May 14, 2025 (Chief Financial Officer) (Company Secretary)

Terms/Rights attached to equity shares

The Company has only one class of equity shares having a par value of ''5/- each. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company, the holder 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.

During the year Company has increased authorised equity share capital. The total authorised equity share capital at the end of the year was ''2500 lakhs dividend in 5,00,00,000 shares of ''5/- each fully paid-up.

During the year Company has issued 1,68,00,000 equity shares of ''10/- each as bonus shares in the ratio of 15 (fifteen) bonus equity shares of ''10/- each fully paid for every 1 (one) existing Equity shares of ''10/- each fully paid up by capitalising the Share premium and retained earning.

The Company has split the share from ''10/- per share to ''5/- per share resulting in total 1,79,20,000 shares at ''5/-by the said split of shares.

The Company has issued 10,00,000 equity shares of ''5/-each as preferential allotment shares fully paid at premium of ''103/- per share during the year.

The Company has raised funds through Initial Public Offers by issuing 1,31,60,000 shares of ''5/- per share at a premium of ''139/- per share by listing its securities on BSE-SME platform.

The total equity share capital at the end of the financial year is ''2,500 lakhs divided in 5,00,00,000 shares of ''5/-each fully paid up.

Details of convertible securities:

The Company has not issued any securities convertible into equity or preference shares.

Share Holders Holding More Than 5% Equity Shares In The Company:

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 both legal and beneficial ownerships of shares.

The Company has no holding Company.

Reserve and Surplus:

During the year, the Company has issued 1,68,00,000 bonus equity shares of Face value of ''10/- each to the existing equity share holders in the ratio of 15:1 i.e. 15 bonus shares for every 1 existing equity shares out of the credit balance of accumulated securities premium amounted to ''288 lakhs and free reserves amounted to ''1,392 lakhs.

The amount adjusted against securities premium represents writing off of expenses on Initial public offer of equity shares (IPO) amounted to ''162.80 lakhs.

During the F.Y. 2021-22, Company has received the non-refundable government grant of ''40 lakhs on capital assets i.e., machinery. The said machinery was purchased in FY 2020-21. The management of the Company has decided to recognize the grant as deferred income, the same is recognized as income in the profit & loss account on systematic basis considering the useful life of the respective machinery. During the year management of Company has recognized the amount of proportionate deferred government grant to profit and loss account pertaining to F.Y. 2023-24. ''26.67 lakhs is recognized as non-current liability since the management of the Company has expected not to recognize this amount within next 12 months after end of the reporting period. ''2.67 lakhs is recognized as current liability which the Company has expected to recognize within 12 months from the end of the reporting period.

Short Term Borrowings

The Company has taken the Cash credit facilities from State Bank of India for ''2,100.00 lakhs (''1,100.00 lakhs) and Bank Guarantee and Letter of credit for ''550.00 lakhs (''550.00 lakhs) which is secured by first pari passu charge on all current assets primarily Stock and Book debts. The said working capital facility has been reviewed during the year. The rate of interest on the working capital facility from bank is 11.65% (9.25% p.a.) calculated on daily products on monthly rests. However the rate of interest is 2.50% over and above the EBLR i.e. 9.15% which was covered under the working capital facility. The same is further secured by collateral securities of commercial and residential immovable properties of the Company and director and family members of the Directors, The borrowings are further secured by personal guarantee of Directors and family members of directors.

Sundry Creditors Covered Under MSMED Act, 2006:

Sundry creditors covered under MSMED Act, 2006 are those creditors who are outstanding at the balance sheet date. Out of which creditors due for more than 45 days as on the balance sheet date are ''73.11 lakhs (''0.93 lakhs). The Company has not provided interest on the same as per MSMED Act, 2006.

Amount due to Micro, Small and Medium Enterprises as on March 31, 2024 (March 31, 2023) are disclosed on the basis of information available with the Company regarding status of the suppliers is as follows:

Advance for property includes ''547.25 lakhs paid to Mukesh Engineering Industries during FY 2015-16 & 2016-17 and due to the dispute with the party the Company has filed arbitration and as per arbitration award dated September 17, 2019 the said party was required to pay this amount along with interest thereon as awarded by the arbitrator. Presently the matter has been litigated and pending before Hon. Gujarat High Court.

Trade Receivables:

Sundry debtors are trade receivables which are due in respect of goods sold in the normal course of the business. the debtors outstanding for more than 6 months are those debtors which are outstanding for more than 6 months as on the date of balance sheet but all of them are good as reviewed by the management.

33. Operating leases Premises

The Company has taken guest house on rent for accommodation of its fault rectification team, vehicles for the purpose of movement of its fault rectification team, machinery, premises located at Dabhasa, and its head office located at KP House, Surat under cancellable operating leases. Each renewal is at the option of lessee. There are no restrictions placed upon the Company by entering into these leases. The total rental expenses during the period is ''342.43 lakhs (''91.53 lakhs) debited in the statement of profit and loss.

35. Segmental Reporting

The Company is operating in single geographical area i.e. Gujarat therefore, it is not identifiable as reportable geographical segment. The Company has engaged in business of galvanisation of structures as well as it is engaged in providing services of fault rectification team, Patrolling of Optical Fiber Cables, Site Clearance Work, Solar Roof-top installation, Sale of solar electricity, EPC, Mobile tower Manufacturing and Turnkey Service Provider to Mobile and Renewable Energy Industry. Therefore, there can be different segments identifiable on the basis of business activities. However, as per the financial records the total external revenue of the Company is ''34,904.86 lakhs whereas the total revenue from the sale of services is ''2,165.12 lakhs. Thus, the revenue from the sale of services is less than 10% of the total revenue of both the segments. Further as per the financial data and other information available, the net result of sales of services is also less than 10% of the total result of both the products. Hence the sale of services is not identifiable as reportable business segment in view of the provisions of para 27 to 29 of AS-17, "Segment Reporting”. Therefore, no segment reporting is given.

37. Cash Flow Statement:

Cash flows are reported using the indirect method, whereby net profits before tax is adjusted for the effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from regular revenue generating, investing and financing activities of the Company are segregated.

38. Based on the information available with the Company, the Company has total dues of ''1455.04 lakhs (''175.78 lakhs) as on March 31, 2024 (March 31, 2023) to MSMEs registered under the Micro, Small and medium Enterprises Development Act, 2006. Out of the same ''73.11 lakhs (''0.93 lakhs) are outstanding at the year-end for more than 45 days on which interest has not been provided as prescribed under MSMED Act, 2006.

39. Disclosure required U/S. 186(4) of The Companies Act, 2013

For details of loans and guarantees given to and given by related parties, refer Note no. 36.

For details of securities provided by the related parties, refer Note No. 5 & 36.

40. Defined Contribution Plan

Defined Benefit Plans/Obligation (DBO):

The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and the tenure of employment.

The Company has a defined benefit gratuity plan (unfunded) and is governed by the Payment of Gratuity Act, 1972. Under the Act, every employee who has completed at least five years of service is entitled to gratuity benefits on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is unfunded.

Sensitivity Analysis:

Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis is given below:

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in the Defined Benefit Obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the Defined Benefit Obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the Defined Benefit Obligation as recognised in the balance sheet.

There is no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

The contribution to a Section 8 Company controlled by the Company has been used for following activities:

i. Promoting Education.

ii. Promoting health care including preventive health care.

iii. Setting up homes and hostels for women and orphans.

iv. Setting up old age homes, day care centers and such other facilities for senior citizens.

v. Welfare of the schedule caste, tribes, other backward classes, minorities and women.

42. The Code on Social Security, 2020

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

43. Contingent Liabilities

The Company has not provided for any contingent liability in Standalone Financial Statements.

The Company has paid advance for property of ''547.25 lakhs to Mukesh Engineering Industries during FY16 and FY17 and due to the dispute with the party, the Company

has filed arbitration and as per the arbitration award dated September 17, 2019 the said party was required to pay this amount along with interest thereon as awarded by the arbitrator. Presently the matter has been litigated and pending before Hon''ble Gujarat High Court.

44. Additional information pursuant to the provisions of Schedule III of The Companies Act, 2013

a. Title deeds of Immovable Property not held in name of the Holding Company:

During the year, the Company has not

owned any immovable properties whose title deeds are not held in the name of the Company.

b. During the year, Holding Company has not revalued any Property, Plant and Equipment.

c. Details of Benami Property held and the proceedings under the Benami Transactions (Prohibition) Act, 1988 and Rules made thereunder:

During the year, there is no such proceedings have been initiated or pending as on the date of balance sheet, against the Holding Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and Rules made thereunder.

d. Borrowings on security of current asset:

The Company has been sanctioned working capital limits in excess of five crores rupees in aggregate from banks and financial institutions on the basis of security of current assets of the Company. The quarterly returns/statements filed by the Company with such banks/financial institutions in respect of gross value of primary securities, are in agreement with the books of accounts of the Company except for the quarter ended on December 31, 2023 and the details of which are as follows along with the reconciliation.

e. During the year, none of the companies of the Group was declared as wilful defaulter by any bank or financial Institution or other lender.

f. Based on the information available with the companies, there are no transactions with struck off companies.

g. Registration of charges or satisfaction with Registrar of Companies:

All the charges or satisfactions are duly registered with registrar of companies.

h. The Company has one subsidiary in India. As per the provisions of the proviso the sub-rule (1) of the Companies (Restriction on number of Layers) Rules, 2017 (as amended), and accordingly, the Company is in compliance with the number of layers as prescribed under the provisions of the clause (87) of Section 2 of the Companies Act, 2013.

i. The Company does not have any such transactions which are not recorded in the books of account that has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961 (such as search or survey or any other relevant provisions of The Income Tax Act, 1961).

k. During the year, no scheme of Arrangements has been approved by the Competent Authority in terms of Sections 230 to 237 of the Companies Act, 2013.

l. A) 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).

B) 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 funding party ("Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

s. Undisclosed Income:

During the year, there are no transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income in the Tax Assessment under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

t. Details of Crypto Currency or Virtual Currency:

During the year, the Group has not traded or invested in ant Crypto Currency or Virtual Currency and hence not applicable.

45. Events occurring after the Balance sheet date

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the Standalone Financial Statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the Standalone Financial Statements. As of April 19, 2024, there are no subsequent events to be recognized or reported except disclosed above in the relevant notes.

46. Approval of the Standalone Financial Statements

The Standalone Financial Statements were approved for issue by the Board of Directors on April 19, 2024.

47. Accounting policies not specifically referred to otherwise are consistent and in consonance with the generally accepted accounting policies. (GAAP)

48. The previous year''s figures have been regrouped or reclassified wherever necessary to confirm with the current year''s presentation.