7.9 Provisions and contingent liabilities
General

Provisions are recognized when the company has a present obligation (legal or constructive) as a result
of a past event, it is probable than an outflow of resources embodying economic benefits will be
requiredto settle the obligation and a reliable estimate can be made of the amount of the obligation.
When the Company expectssome or all of the provisions to be reimbursed, the expenses relating to the
provisions is presented in the statement of profit and loss net of any reimbursement.

If the effect of the time value of the money is material, provisions are discounted using a current pre¬
tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the
increase in the provisions due to the passage of time is recognized as a finance cost.

Contingent liabilities

A disclosure for contingent liabilities is made where there is a possible obligation or a present
obligation that may probably not require an outflow of resources. When there is a possible or present
obligation where the likelihood of outflow of resources is remote, no provision or disclosure is made.

7.10 Events after reporting date

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

As per our report of even date FOR FOR AND ON BEHALF OF THE BOARD,

BAHEDIA & ASSOCIATES, ^{Vimal D Shah Susmita Mahapatra}

CHARTERED ACCOUNTANTS ^{Managing Director Director}

_rJ/ DIN: 01506655 DIN:08795606

Sd/-

CA. BADRILAL R. BAHEDIA

Proprietor

^{( M}. ^N°. ^048066) Iqubal Patel

^{( F} .^R. ^No. ^114421W) Chief Financial Officer

ANKLESHWAR- 29.05.2024
UDIN: 24048066BKADIO1885