(xxvi) Provisions

a) Provisions

Provisions (excluding employee benefits) are
recognised when the Company has a present
obligation (legal or constructive) as a result of a past
event, it is probable that an outflow of resources
embodying economic benefits will be required to
settle the obligation and a reliable estimate can be
made of the amount of the obligation. if the effect
of the time value of money is material, provisions
are discounted using equivalent period government
securities interest rate. unwinding of the discount is
recognised in the statement of Profit and Loss as a
finance cost. Provisions are reviewed at each balance
sheet date and are adjusted to reflect the current best
estimate.

b) Contingencies

Contingent liabilities are disclosed when there
is a possible obligation arising from past events,
the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control
of the Company or a present obligation that arises
from past events where it is either not probable that
an outflow of resources will be required to settle or
a reliable estimate of the amount cannot be made.
information on contingent liability is disclosed in the
Notes to the Financial statements. Contingent assets
are not recognised. However, when the realisation of
income is virtually certain, then the related asset is no
longer a contingent asset, but it is recognised as an
asset.

(xxvii) Recent Accounting Pronouncements

(i) New and Amended Standards Adopted by the
Company:

The Ministry of Corporate Affairs vide notification
dated 9 september 2024 and 28 september 2024
notified the Companies (indian Accounting standards)
second Amendment Rules, 2024 and Companies
(indian Accounting standards) Third Amendment
Rules, 2024, respectively, which amended/ notified
certain accounting standards (see below), and are
effective for annual reporting periods beginning on or
after 1 April 2024:

• Insurance contracts - Ind AS 117; and

• Lease Liability in Sale and Leaseback - Amendments
to ind As 116

These amendments did not have any material impact
on the amounts recognised in prior periods and are not
expected to significantly affect the current or future
periods.

Notes:

* Rama Steel Tubes Limited ("the Company") has made the investment and incorporated wholly owned subsidiary in the name of M/s Rama Defence Private Limited and
certificate of incorporation was received on August 31,2024 from Ministry of Corporate Affairs.

** The Board of Directors of the Company has approved the exit from Joint Venture in the name of M/s Pir Panchal Constructions Private Limited-JV (AOP) based on the
audited financials of JV as on February 28,2025 in its meeting held on April 09,2025 as a result, M/s Pir Panchal Constructions Private Limited-JV (AOP) has stand ceased to
be Joint-Venture of the Company.

*** Rama Steel Tubes Limited ("the Company") holds remaining stake i.e 17.60% 4,40,000 equity shares of face value of' 10 each in M/s Hager Mega Mart Private Limited
("HMMPL") as on March 31,2024 has further diluted on May 31,2024 pursuant to participating in buyback shares.

**** Rama Steel Tubes Limited ("the Company") has invested 40% in the stake of a newly incorporated company M/s Oram Green Energy Limited on October28,2024 and as a
result, M/s Oram Green Energy Limited has become the associate of Rama Steel Tubes Limited, thus our share in Net Profit /(Loss) including OCI of Associate for the period
October 28,2024 till March 31,2025 have been considered.

***** Rama Steel Tubes Limited ("the Company") has invested 10% in the stake of a newly incorporated company M/s Onix IPP Private Limited on December 17,2024.

maximum amount outstanding during the year ended March 31, 2025 was '3648.75 lakhs. During the current year, the loan
given has been paid back.

(i) b) As at March 31, 2025, ' 293.38 lakhs was recoverable from a wholly owned subsidiary i.e. M/s RsT international Trading

FZE, Dubai. The loan was carrying interest of 7.75% p.a. The loan was given for the purpose of meeting its operational
requirements. The Loan was repayable upto 2 years in tranches as and when funds are available with M/s RsT international
Trading FZE, Dubai. The maximum amount outstanding during the year ended March 31, 2025 was ' 293.38 lakhs.

(ii) a) As at March 31, 2025, ' 733.73 lakhs was recoverable from a NBFC company i.e. M/s Deddu Finlease Limited. The loan

was carrying interest of 9.00% p.a. The loan was given for the purpose of meeting its business requirements. The Loan
was repayable upto 2.5 years in tranches as and when funds are required before the expiry of terms.The maximum amount
outstanding during the year ended March 31, 2025 was ' 733.73 lakhs.

(ii) b) As at March 31, 2025, ' 432.40 lakhs was recoverable from M/s vsT infra & Profiles Private Limited. The loan was carrying
interest of 9.00% p.a. The loan was given for the purpose of meeting its business requirements. The Loan was repayable upto
2.5 years in tranches as and when funds are required before the expiry of terms.The maximum amount outstanding during
the year ended March 31, 2025 was ' 432.40 lakhs.

(ii) c) As at March 31, 2025, ' 6.22 lakhs was recoverable from an associate M/s Oram Green energy Limited. The loan was carrying
interest of 8.75% p.a. The loan was given for the purpose of meeting its initial business requirements. The Loan was repayable
upto 2 years in tranches as and when funds are required before the expiry of terms.The maximum amount outstanding
during the year ended March 31, 2025 was ' 6.22 lakhs.

(ii) d) As at March 31, 2025, ' 0.1 lakhs was recoverable from M/s ravi Developers Private Ltd. The loan was carrying interest of
8.75% p.a. The loan was given for the purpose of meeting its initial business requirements. The Loan was repayable upto 2
years in tranches as and when funds are required before the expiry of terms.The maximum amount outstanding during the
year ended March 31, 2025 was ' 0.1 lakhs.

For movement during the year in Other Equity, refer "Statement of Changes in Equity”

(i) securities premium is used to record the premium on issue of shares. The reserve is utilised in accordnace with the provisions of

the indian Companies Act, 2013 (" the Companies Act”).

(ii) General reserve is used from time to time to transfer profits from retained earnings for approciation purposes. There is no policy
of regular transfer. General Reserves represents the free profits of the Company available for distribution. As per the Companies
Act, certain amount is required to be transferred to General reserve every time company distribute the dividend.

(iii) Capital reserve represents the amount foreited on the cancellation of share warrants. The reserve is not available for distribution
of dividend but can be utilised for issuing bonus shares.

(iv) retained earnings represents unallocated / un-distributed profits of the company. The amount that can be distributed as dividend
by the company to its equity shareholders is determined based on the separate financials statements of the Company and also
considering the requirement of the Company Act, 2013. Thus amount reported above are not distributable in entirety.

‘During the current financial year, the Company identified a calculation error in the recognition of lease liability in respect of a
lease arrangement accounted for under Ind AS 116 - Leases. The lease liability at the time of recognition in books of accounts was
inadvertently recognised at ' 85.39 lakhs instead of ' 122.71 lakhs, resulting in an understatement of the lease liability by ' 37.32
lakhs.

Upon evaluation, the Company has determined that the error is not material to the previously issued financial statements in
accordance with Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, and accordingly, no restatement of
the prior period financial statements has been made.

However, to ensure transparency, the Company has adjusted the opening balance of retained earnings for the current financial
year by ' 37.32 lakhs and provided appropriate recognition of the corrected balances going forward.

The Company has implemented appropriate controls to prevent such errors in future and confirms that the current year financial
statements have been prepared after incorporating the necessary corrections.

(v) Money received againt share warrants represent the 25% money received in advance against the share warrants which are 100%
convertible into equity shares on the receipt of full amount.

First Working Capital Term Loan (WCTL-ECLGS) from Axis bank outstanding amounting '75 Lakhs as at 31.03.2025 are payable in
10 equal monthly installments commencing from April 05, 2025 to January 05, 2026, carrying a floating interest rate linked with
MCLR of bank (1 year MCLR: 9.25% plus 0.25 % p.a.=9.50% p.a) with periodical interest reset.

Second Working Capital Term Loan (WCTL-ECLGS) from Axis bank outstanding amounting '137.20 Lakhs as at 31.03.2025 are
payable in 21 equal monthly installments commencing from April 30, 2025 to December 31, 2026, carrying a floating interest rate
linked with MCLR of bank (1 year MCLR: 9.25% plus 0.25 % p.a.=9.50% p.a) with periodical interest reset.

Third Working Capital Term Loan (WCTL-ECLGS) from Canara bank outstanding amounting '56.06 Lakhs as at 31.03.2025 are
payable in 9 equal monthly installments commencing from April 30, 2025 to December 31 2025, carrying a floating interest rate
linked with MCLR of bank (1 year MCLR: 8.90% plus 0.60 % p.a.=9.50% p.a) with periodical interest reset.

Fourth Working Capital Term Loan (WCTL-ECLGS) from Canara bank outstanding amounting '100.00 Lakhs as at 31.03.2025 are
payable in 32 equal monthly installments commencing from April 12, 2025 to November 12, 2027, carrying a floating interest rate
linked with MCLR of bank (1 year MCLR: 8.90% plus 0.60 % p.a.=9.50% p.a) with periodical interest reset.

First Vehicle Car loan from DAiMLER FINANCIAL SERVICES INDIA PVT.LTD outstanding amounting '22.85 Lakhs as at 31.03.2025
are payable in 17 monthly installments commencing from April 18, 2025 to August 18, 2026 with rate of interest 8.50% p.a.

Second Vehicle Car loan from HDFC bank outstanding amounting '74.90 Lakhs as at 31.03.2025 are payable in 35 monthly
installments commencing from April 05, 2025 to March 05, 2028 with rate of interest 8.50% p.a.

NOTE 32 : FiNANCiAL RISK MANAGEMENT

Financial Risk Factors

The Company's principal financial liabilities comprise borrowings, trade and other payables. The main purpose of these financial liabilities
is to manage finances for the Company 's operations. The Company has loan and other receivables, trade and other receivables, and
cash and short terms deposits that arise directly from its operations. The Company's activities expose it to a variety of financial risks.

i) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market prices comprise three types of risks: currency rate risk, interest rate risk and other price risks such as equity price
risk and commodity risk. Financials instruments affected by market risk includes loans and borrowings, deposits, investments.
Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in foreign exchanges rates. 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. This is based on the financial assets and financial liabilities held as of
March 31, 2025 and March 31, 2024.

ii) Credit Risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss.

iii) Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without
incurring unacceptable losses.

The Company 's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise
potential adverse effects on the Company's financial performance.

The sensitivity analysis excludes the impact of movementsin market variables on the carrying value of post employeement
benefit obligations provisions and on the non-financial assets and liabilities. The sensitivity of the relevant statement of Profit
and Loss item is the effect of the assumed changes in the respective market risks. The Company's acitivies expose it to a variety
of financial risks, including the effects of changes in foreign currency exchange rates and interest rates. However, such effect is
not material.

(a) Foreign exchange risk and sensitivity

The company transacts business primarly in indian Rupee (').The company is exposed to foreign exchange risk through its
sales in international markets. The company has given unsecured loan to its wholly owned subsidiary company and has
foreign currency receivables and is therefore, exposed to foreign exchange risk. The company evaluates foreign currency
exposure time to time and follow established risk management policies by taking foreign exchange forward contracts to
hedge exposure of foreign currency risk and also some of the foreign currency exposure remains natually hedged. The
Following table analyses foreign currency risk from financial instruments as of March 31, 2025 and March 31, 2024 :-

(b) Interest rate risk and sensitivity

I nterest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Company is exposed to interest rate risk because funds are borrowed at both fixed and
floating interest rates. interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rate.
The borrowings of the Company are principally denominated in rupees with a mix of fixed and floating rates of interest. The
Company has exposure to interest rate risk, arising principally on changes in base lending rate. The Company uses a mix of
interest rate sensitive financial instruments to manage the liquidity and fund requirements for its day to day operations like
short term loans. The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate
borrowings, and by the use of interest rate swap contracts.

(c) Commodity price risk and sensitivity

The company is exposed to the movement in price of key raw materials in domestic markets. The Company enters into
contracts for procurement of material most of the transactions are short term fixed price conract.

Credit Risk

The Company is exposed to credit risk from its operating activities (primarily trade receivables). Credit risk arises from the
possibility that counter party may not be able to settle their obligations as agreed. To manage this, the Company periodically
assesses the financial reliability of customers, taking into account the financial condition, current economic trends, and
analysis of historical bad debts and ageing of accounts receivable. individual risk limits are set accordingly. The Company
considers the probability of default upon initial recognition of assets and whether there has been a significant increase in
credit risk on an ongoing basis through each reporting period. To assess whether there is a significant increase in credit risk,
the company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the
date of initial recognition. it considers reasonable and supportive forward-looking information.

Cash and Cash Equivalents, Deposit in Banks and other Financial instruments

The Company considers factors such as track record, size of the institution, market reputation and service standards
to select the banks with which balances and deposits are maintained. Generally, the balances are maintained with the
institutions with which the Company has also availed borrowings. The Company does not maintain significant cash and
deposit balances other than those required for its day to day operations. For other financial assets the company monitors
ratings, credit spreads and financial strengths of its counterparties. Based on its ongoing assessment of the counter party's
risk, the company adjust its exposures to various counter parties. Based on the assessment there is no impairment in other
financial assets.

Liquidity Risk

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

Maturity profile of financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date
based on contractual undiscounted payments.

For the purposes of the Company's capital management, capital includes issued capital and all other equity reserves. The
primary objective of the Company's Capital Management is to maximize shareholder value. The company manages its
capital structure and makes adjustments in the light of changes in economic environment and the requirements of the
financial covenants. in order to achieve this overall objective, the Company's capital management, amongst other things,
aims to 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 of the financial covenants of any interest bearing loans and borrowing for reported
periods.

The Company monitors its capital using gearing ratio, which is net debt divided to total equity. Net debt includes, interest
bearing loans and borrowings less cash and cash equivalents, bank balances other than cash and cash equivalents.

Fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a)
recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial
statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its
financial instruments into the three levels prescribed under the accounting standard.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments that
have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued using the closing price as
at the reporting period.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which
maximise the use of observable market data and rely as little as possible on entity-specific estimates. if all significant inputs required
to fair value an instrument are observable, the instrument is included in level 2.

Level 3: if one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the
case for unlisted equity securities, security deposits included in level 3.

NOTE 37 : EMPLOYEE BENEFiT OBUGATiONS
I. Defined Contribution plans

The Company makes provident fund contributions and ESi contribution which are defined contribution plans, for qualifying
employees. under the scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the
benefits. The Company recognised the expenses as per below table for provident fund contributions in the statement of profit and
loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes. The obligation
of the Company is limited to the amount contributed and it has no further contractual nor any constructive obligation.

OCI presentation of defined benefit plan

a) Gratuity is in the nature of defined benefit plan, re-measurement gains / (losses) on defined benefit plans is shown under
OCi as items that will not be reclassified to profit or loss and also the income tax effect on the same.

b) Leave encashment cost is in the nature of short term employee benefits.

Presentation in Statement of Profit and Loss and Balance Sheet

Expenses for service cost , net interest on net defined benefit liability (asset) is charged to statement of Profit & Loss.

iND As 19 do not require seggregation of provision in current and non-current, however net defined liability (Assets) is shown as
current and non-current provision in balance sheet as per iND As 1.

Actuarial liability for short terms benefits (leave encashment cost) is shown as current and non-current provision in balance
sheet.

when there is surplus in defined plan, the company is required to measure the net defined benefit at the lower of the surplus in
the defined benefit plan and the assets ceiling, determined using the discount rate specified i.e. market yield at the end of the
reporting period on government bonds, this is applicable for domestic companies, foreign company can use corporate bonds rate.

The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the
obligations related to lease liabilities as and when they fall Rental expenses recorded for short- term leases was '19.29 Lakhs for the
year ended March 31, 2025 and ' 57.43 Lakhs for the year ended March 31, 2024 respectively

NOTE 46 : Disclosure pursuant to Ind AS 20 "Accounting for Government Grants and Disclosure of Government Assistance

The Company's exports qualify for various export benefits offered in the form of duty credit scrips under foreign trade policy framed by
Department General of Foreign Trade india (DGFT). income accounted towards such export incentives and duty drawback amounts to
' 6.67 Lakhs for the year ended March 31, 2025 (previous year ' 1.75 Lakhs)

NOTE 47 : RELATED PARTY TRANSACTIONS

The related parties as per the terms of ind As-24,”related Party Disclosures”, {under the section 133 of the Companies Act 2013 (the
Act) read with Companies (indian Accounting standards) rules 2015 (as amended from time to time)}, as disclosed below:-

NOTE 50 : RELATIONSHIP WITH STRUCK OFF COMPANIES

The company does not have any relationship with companies struck off (as defined by Companies Act, 2013) and did not enter into

transactions with any such company for the years ended March 31, 2025 and March 31, 2024 .

NOTE 51 : CRYPTOCURRENCY OR VIRTUAL CURRENCY TRANSACTIONS

The Company did not enter transactions in Cryptocurrency or virtual currency during the year ended March 31, 2025 (March 31, 2024:

NIL).

NOTE 52 : ADDITIONAL REGULATORY INFORMATION

(i) The title in respect of self-constructed buildings and title deeds of all other immovable properties (other than properties where the
company is the lessee and the lease agreements are duly executed in favour of the lessee), disclosed in the financial statements
included under Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

(ii) The company has not done fair valuation of investment property as it can not be measured reliably as the same is not a liquid
assset and not readily saleable.

(iii) The company has not revalued its Property, Plant and equipment (including Right-of-use Assets), and intangible assets.

(iv) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2025 for holding any
benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

(v) The company has not been declared wilful defaulter by any bank or financial institution or government or any government
authority.

(vi) The company has complied with the number of layers prescribed under the Companies Act, 2013

(vii) The company has registered all the charges and satisfaction thereof with the registrar of Companies within the statutory
Periods.

(viii) utilisation of borrowed funds and share premium:

The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(intermediaries) with the understanding that the intermediary shall:

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

b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

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

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

b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

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

(x) The Board of Directors has resolved to withdraw the proposed scheme of Arrangement for the amalgamation of M/s Lepakshi
Tubes Private Limited with M/s Rama steel Tubes Limited, which was initially approved on February 14, 2022. upon a comprehensive
review, the Board deliberated on the significant shifts in market conditions post the COviD-19 pandemic, particularly the volatility
within the global steel industry from the time of application to the present. Given these evolving dynamics, the management of
both applicant companies has reassessed their strategic positioning and concluded that operating as separate entities would
offer a greater competitive advantage, ultimately serving the best interests of all stakeholders. Furthermore, considering that the
Transferor Company operates in south india, it has established strong relationships with local suppliers, customers, and regulatory
authorities. The management has determined that a merger in the current market environment may not align with these regional
associations and could introduce complexities that are not in the best interest of either entity. in light of these factors, the
companies have decided to proceed independently to optimize growth and operational efficiencies.This decision has been duly
considered, and the Hon'ble National Company Law Tribunal (NCLT) has issued its order on september 10, 2024.

(xi) Loans & advances in the nature of loans granted to Promoters, Directors, KMPs and the related parties (as defined under
Companies Act,2013), either severally or jointly with any other, that are:-

(a) repayable on demand; or

(b) without specifying any terms or period of repaymentx

NOTE 54 : NOTE ON AUDIT TRAIL

In the BizSol ERP, audit trail at transaction level on application layer has an embedded audit trail in sub-ledger accounting tables which
creates unique events for every transaction along with dates of creating and updating transactions with the identity of users. General
ledger journals are not allowed to be modified after posting and the date and creator of journals are tracked. This feature cannot be
disabled. Additionally, audit trail was enabled for masters and transactions in a phased manner. Audit trail feature with respect to
application layer changes in accounting software has worked effectively during the year. Post publication of iCAi implementation
guide, direct database level changes was also included in audit trail scope. in respect of Bizsol ERP, access to direct database level
changes is available only to privileged users and it is not available to any of the Company personnel. However, the software product
owners have confirmed that there is no audit trail enabled for data base level changes.

NOTE 55 : During the year, The Board of the Group has accorded their consent in the meeting held on December 10, 2024 for subscription
of 24.81% stake in M/s Bigwin Buildsys Coated Private Limited for an aggregate consideration of ' 5.65/- Crore, a Company established
under the provisions of Companies Act, 2013 vide Corporate Identification Number U28999MH2019PTC335215 having its registered
office at 201-2, S C plot no 183, T Anuradha 51 ST Road, Near Veer Savarkar Udyan, Borivali West, Mumbai City, Mumbai, Maharashtra,

India- 400092 and consideration shall be made through by issuance of fresh equity shares of Rama Steel Tubes Limited subject to the
approvals of statutory authority and shareholders of the company. The issuance of equity shares of Rama steel Tubes Limited shall be
in the form of preferential issue of shares and shall be in compliance with applicable provisions of sEBi (ICDR) regulations, 2018. As a
result, M/s Bigwin Buildsys Coated Private Limited will become the associate of Rama steel Tubes Limited .

NOTE 56 : During the year, Axis Bank Ltd. invoked a bank guarantee (BG No. 00550100001322, dated August 3, 2024) amounting to
'35 lakh in favor of "The Chief Accounts Officer, Jal shakti (PHE) Department, Jammu.” in response, the Company filed a writ petition
with the Hon'ble High Court of J&K and Ladakh at Jammu to recover the amount, as the financial bid submitted on the e-portal had
automatically considered the GST rate as nil instead of 18%, potentially affecting the Company's financial position. Consequently, the
Company has capitalized this amount.

NOTE 57 : Previous year figures have been regrouped/ rearranged, wherever considered necessary to conform to current year's
classification.

NOTE 58 : Notes 1 to 56 are annexed to and form an integral part of financial statements.

For Rawat & Associates For and On Behalf of the Board

Chartered Accountants
Firm Registration No. 134109W

Sd/- Sd/- Sd/-

Nakul Rawat Naresh Kumar Bansal Richi Bansal

Partner (Managing Director) (Director)

Membership No. 416638 DIN: 00119213 DIN: 00119206

Sd/- Sd/-

PLace : Delhi Rajeev Kumar Agarwal Manish Kumar

Date : May 30, 2025 (Chief Financial Officer) (Company Secretary)