(xiii) Provisions

Provisions 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.

The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability.

Contingent liability is disclosed in the case of:

Present obligation arising from past event, when it is not probable that an outflow of resources will be required to
settle the obligation.

• A present obligation arising from past event, when no reliable estimate is possible.

• A possible obligation arising from past events, unless the probability of outflow of resources is remote.
Commitments include the amount of purchase order (net of advances) issued to parties for completion of
assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

(xiv) 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.

(xv) Financial instruments
(a) Financial assets:

Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in case of financial asset not recorded at fair value
through profit or loss, transaction cost that are attributable to the acquisition of the financial asset.

Financial assets are classified, at initial recognition, as financial assets measured at fair value or as financial asset
measured at amortised cost.

Subsequent measurement

For purposes of subsequent measurement financial assets are classified into two broad categories:

• Financial asset at fair value

• Financial asset at amortised cost

Where assets are measured at fair value, gains and losses are either recognised entirely in the statement of profit
or loss (i.e. fair value through profit or loss), or recognised in other comprehensive income (i.e. fair value through
other comprehensive income)

A financial asset that meet the following two conditions is measured at amortised cost (net of any write down for
impairment) unless the asset is designated at fair value through profit or loss under the fair value option.

• Business model test: the objective of the Company's model is to hold the financial asset to collect the
contractual cash flows (rather than to sell the instrument prior to its contractual maturity to realise its fair value
changes)

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to cash
flows that are solely payment of principal and interest on the principal amount outstanding.

A financial asset that meet the following two conditions is measured at fair value through other comprehensive
income unless the asset is designated at fair value through profit or loss under the fair value option.

• Business model test: the financial asset is held within a business model whose objective is achieved both by
collecting contractual cash flows and selling the financial assets

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to cash
flows that are solely payment of principal and interest on the principal amount outstanding.

Debt Instruments included within the fair value through profit or loss (FVTPL) category are measured at fair value
with all changes recognized in the statement of profit or loss.

Equity Instruments: All equity instruments within scope of Ind AS 109 are measured at fair value. Equity instruments
which are classified as held for trading are measured at FVTPL. For all other equity instruments, the company
decides to measure the same either at fair value through other comprehensive income (FVTOCI) or FVTPL.
The Company makes such selection on an instrument-by-instrument basis. The classification is made on initial
recognition and is irrevocable.

For equity instruments measured at FVTOCI, all fair value changes on the instrument, excluding dividends, are
recognised in Other Comprehensive Income (OCI). There is no recycling of the amounts from OCI to Statement of
profit or loss, even on sale of such instruments.

The Investments are measured at Fair Market Value. The diminution in the market value of investments is not
considered unless such diminution is considered permanent and accordingly provision for diminution is made in
books of accounts.

All other financial asset is measured at fair value through profit or loss.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised when:

• The rights to receive cash flows from the asset have expired, or

• The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to
pay the received cash flows in full without material delay to a third party under a 'pass-through' arrangement;
and either

a) the Company has transferred substantially all the risks and rewards of the asset, or

b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a passthrough
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of
the asset, the Company continues to recognise the transferred asset to the extent of the Company's continuing
involvement. In that case, the company also recognises an associated liability. The transferred asset and the
associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of
the original carrying amount of the asset and the maximum amount of consideration that the Company could be
required to repay.

Impairment of financial assets:

In accordance with Ind-AS 109, the company applies Expected Credit Losses (ECL) model for measurement
and recognition of impairment loss on trade receivables and other advances. The company follows “Simplified
Approach” for recognition of impairment loss on these financial assets. The application of simplified approach does
not require the company to track changes in credit risk. Rather, it recognizes impairment loss allowance based on
lifetime ECLs at each reporting date, right from its initial recognition.

(b) Financial liabilities:

Initial recognition and measurement:

Financial Liabilities are classified at initial recognition as:

(i) Financial liabilities at fair value through profit or loss,

(ii) Loans and borrowings, payables, net of directly attributable transaction costs or

(iii) Derivatives designed as hedging instruments in an effective hedge, as appropriate.

The company's financial liabilities include trade and other payables, loans and borrowings including derivative
financial instruments.

Subsequent measurement:

The measurement of financial liabilities depends on their classification, as described below:

Borrowings:

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently
measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognised in the Statement of Profit and Loss over the period of the borrowings using the effective
interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to
the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until
the draw down occurs.

Borrowings are removed from the Balance Sheet when the obligation specified in the contract is discharged,
cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished
and the consideration paid is recognised in the Statement of Profit and Loss as other gains / (losses).

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of
the liability for at least twelve months after the reporting period. Where there is a breach of a material provision of
a long-term loan arrangement on or before the end of the reporting period with the effect that the liability becomes
payable on demand on the reporting date, the entity does not classify the liability as current, if the lender has
agreed, after the reporting period and before the approval of the financial statements for issue, not to demand
payment as a consequence of the breach.

Trade and other payables:

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial
period which are unpaid. The amounts are unsecured and are usually paid within twelve months of recognition.
Trade and other payables are presented as current liabilities unless payment is not due within twelve months after
the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost
using the effective interest method.

Derivative financial instruments:

The Company uses derivative financial instruments, such as foreign exchange forward contracts to hedge its
foreign currency risks. Such derivative financial instruments are initially recognised at fair value on the date on
which a derivative contract is entered into and are subsequently re-measured at fair value at the end of each
reporting period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities
when the fair value is negative.

Loans and borrowings - subsequent measurement

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using
the Effective Interest Rate (EIR) method. Gains and losses are recognised in profit or loss when the liabilities are
derecognised as well as through the Effective Interest Rate (EIR) amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
are an integral part of the Effective Interest Rate (EIR). The Effective Interest Rate (EIR) amortisation is included as
finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,or
the terms of an existing liability are substantially modified, such an exchange or modification is treated as the
derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying
amounts is recognised in the statement of profit or loss.

(xvi) Investment Property

Investment properties are properties held to earn rentals and / or for capital appreciation (including property under
construction for such purpose). Investment properties are measured initially at cost, including transaction costs.
Subsequent to initial recognition, investment properties are measured in accordance with the requirements of Ind
AS 16 for cost model.

An investment property is derecognized upon disposal or when the investment property is permanently withdrawn
from use and no future economic benefits are expected from the disposal. Any gain or loss arising on derecongnition
of the property is included in the Statement of Profit and Loss in the period in which the property is derecognized.

(xvii) Borrowing Costs

Borrowing costs are charged to Statement of Profit and Loss except to the extent attributable to acquisition /
construction of and asset that necessarily takes a substantial period of time to get ready for its intended use or sale.

Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.
Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(xviii) Impairment of Non-financial Assets

At each balance sheet date, an assessment is made of whether there is any indication of impairment.

If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the
asset's recoverable amount. An asset's recoverable amount is the higher of an asset's or cash-generating unit's
(CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual
asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or
groups of assets.

When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired
and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the
asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such
transactions can be identified, an appropriate valuation model is used.

The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared
separately for each of the Company's CGUs to which the individual assets are allocated.

Recent accounting pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standard 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 not
notified any new standards or amendments to the existing standards applicable to the Company.

(vi) Terms/rights attached to equity shares

"The Company has only one class of issued equity shares capital having par value of ?1/.- per share
(31 March 2024 ? 1/-per share). Each shareholder is entitled to one vote per share held. The Company
declares and pays dividend in Indian Rupees The dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation,
the equity shareholders are eligible to receive the remaining assets of the Company after distribution
of all preferential assets, in proportion to their shareholding. The Shareholders have all other rights as
available to equity shareholders as per the provisions of the Companies Act, 2013, read together with
the Memorandum of Association and Articles of Association of the Company, as applicable.

(vii) Shares issued for consideration other than cash

There are no equity shares issued as bonus shares , issued for consideration other than cash and
shares bought back during the period of 5 years immediately preceeding the reporting period

25 Segment information

The Company operates in single business segment namely manufacturing and trading of food colors and
chemicals. Hence, no separate disclosure as per "Ind AS-108" is required for the business segment.

The Company’s operating divisions are managed from India. The principal geographical areas in which the
Company operates are Asian Countries, European Countries, South Africa, Middle East Countries, United
States and others.

For the purpose of geographical segment the sales are divided into two segments - within India and outside
India. The accounting policies of the segments are the same

Notes:

(i) Capital expenditure consists of additions to property, plant and equipment, Capital work in progress net
of capitalisation from previous year.

(ii) There are two customers having revenue exceeding 10% of total revenue of the Company.

(iii) Non-current oassets includes property, plant and equipment, right of use assets, capital work in progress
under development and other non-current assets, but excludes Income tax & Deferred tax Assets.

26 Disclosure of Defined benefit plans and defined contribution plan
(A) Defined benefit plan

The Group operates following defined benefit obligations:

(a) Defined benifit plan :

The following tables summaries the components of net benefit expense recognised in the
statement of profit or loss and the funded status and amounts recognised in the balance sheet for
the resDective Dian:-

(x) The sensitivity analyses above have been determined based on Gratuity which is a lump sum plan
and the cost of providing these benefits is typically less sensitive to small changes in demographic
assumptions. The key actuarial assumptions to which the benefit obligation results are particularly
sensitive to are discount rate and future salary escalation rate. These sensitivities have been
calculated to show the movement in defined benefit obligation in isolation and assuming there are
no other changes in market conditions at the accounting date. There have been no changes from
the previous periods in the methods and assumptions used in preparing the sensitivity analyses.
The following table summarizes the change in defined benefit obligation and impact in percentage
terms compared with the reported defined benefit obligation at the end of the reporting period
arising on account of an increase or decrease in the reported assumption by 50 basis points

(xi) The estimates of rate of escalation in salary considered in actuarial valuation are after taking into
account inflation, seniority, promotion and other relevant factors including supply and demand in
the employment market. The above information is as certified by the Actuary.

(xii) The methods and types of assumptions used in preparing the sensitivity analysis did not change
compared to the prior period.

(B) Defined contribution plan

Following are the contribution to Defined Contribution Plan, recognised as expense for the year:

Notes:

(a) The transactions with related parties are made on terms equivalent to those that prevail in arm’s
length transactions. Outstanding balances at the year-end are unsecured and interest free. The
settlement for these balances occurs through payment. There have been no guarantees provided
or received for any related party receivables or payables. For the year ended March 31, 2025,
the Company has not recorded any impairment of receivables relating to amounts owed by
related parties (March 31,2024: NIL). This assessment is undertaken each financial year through
examining the financial position of the related party and the market in which the related party
operates.

(b) As at March 31,2025 , the Company has not granted any loans to the promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013), either severally or jointly with any
other person.

(c) All the liabilities for post retirement benefits being ‘Gratuity, compensated absence and pension
benefit’ are provided on actuarial basis for the Group as a whole, accordingly the amount pertaining
to Key management personnel are not included above.

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 value

(i) The fair value of unquoted instruments, loans from banks other non-current financial assets and non¬
current financial liabilities is estimated by discounting future cash flows using rates currently available
for debt on similar terms, credit risk and remaining maturities. The valuation requires management to
use unobservable inputs in the model, of which the significant unobservable inputs are disclosed in the
tables below. Management regularly assesses a range of reasonably possible alternatives for those
significant unobservable inputs and determines their impact on the total fair value.

(ii) Costs of unquoted equity instruments has been considered as an appropriate estimate of fair value
because of a wide range of possible fair value measurements and cost represents the best estimate of
fair value within that range. These investments in equity instruments are not held for trading. Instead,
they are held for long-term strategic purpose.

(iii) Fair value hierarchy

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded
derivatives and equity securities) is based on quoted market prices at the end of the reporting period
for identical assets or liabilities. The mutual funds are valued using the net assets value (NAV) available
in open market. The quoted market price used for financial assets held by the group is the current bid
price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (for example,
traded bonds, over-the-counter derivatives) 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, contingent consideration and
indemnification asset included in level 3.

There are no transfers among levels 1,2 and 3 during the year

This section explains the judgement and estimates made in determining the fair value of financial assets
that are:

a) Recognized and measured at Fair value

b) Measured at amortized cost and for which fair value is disclosed in financial statements

On the basis of information and records available with the Company, the above disclosures are made in
respect of amount due to the micro, small and medium enterprises, which have been registered with the
relevant competent authorities.

30 Financial risk management objectives and policies

The Company being the active supplier for the automobile industry is exposed to various market risk, credit
risk and liquidity risk. The Company has global presence and has decentralised management structure. The
regulations, instructions, implementation rules and in particular, the regular communication throughout the
tightly controlled management process consisting of planning, controlling and monitoring collectively form the
risk management system used to define, record and minimise operating, financial and strategic risks. The
Company has set up a risk management committee (RMC) which comprise of Company chief finance officer
and three directors of parent company of which two are independent directors. RMC periodically reviews
operating, financial and strategic risk in the business and their mitigating factors. RMC has formulated a risk
management policy for the Individaul Company company and Company as a whole, which outlines the risk
management framework to help minimise the impact of uncertainty. The main objective of this policy is to
ensure sustainable business growth with stability and to promote a proactive approach in reporting, evaluating
and resolving risk associated with the business. This process provides assurance that the Company's
financial risk-taking activities are governed by appropriate policies and procedures and that financial risk are
identified, measured and managed in accordance with Company policies and Company risk objective. The
Company's financial risk management is an integral part of how to plan and execute its business strategies.
Below notes explain the sources of risks in which the Company is exposed to and how it manages the risks.

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates
and equity prices - will affect the Company’s income or the value of its holdings of financial instruments.
Market risk is attributable to all market risk sensitive financial instruments including foreign currency
receivables and payables . We are exposed to market risk primarily related to foreign exchange rate
risk and interest rate risk. Thus, our exposure to market risk is a function of revenue generating and
operating activities in foreign currency. The objective of market risk management is to avoid excessive
exposure in our foreign currency revenues and costs.

(i) Foreign currency risk

The Company is exposed to currency risk on account of transaction with foreign subsidiaries
and other parties. The functional currency of the Company is Indian Rupee. The exchange rate
between the Indian rupee and foreign currencies has changed substantially in recent periods and
may continue to fluctuate substantially in the future.

The Company exposure to foreign currency risk at the end of the reporting periods are as
follows

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 objective is to, at all times
maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely
monitors its liquidity position and deploys a robust cash management system. It maintains adequate
sources of financing through the use of short term bank deposits, short term loans, and cash credit facility
etc. Processes and policies related to such risks are overseen by senior management. Management
monitors the Company’s liquidity position through rolling forecasts on the basis of expected cash flows.
The Company assessed the concentration of risk with respect to its debt and concluded it to be low.

(c) 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 towards the Company and arises principally from the
Company’s receivables from customers and deposits with banking institutions and funds with mutual
fund asset management companies (AMC). The maximum amount of the credit exposure is equal to
the carrying amounts of these receivables. Management has a credit policy in place and the exposure
to credit risk is monitored on an ongoing basis.

(i) Trade Receivables

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of
each customer. The demographics of the customer, including the default risk of the industry and
country in which the customer operates, also has an influence on credit risk assessment. Credit
risk is managed through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of

business. The Company establishes an allowance for doubtful debts and impairment that represents
its estimate of incurred losses in respect of trade and other receivables and investments.

The Company uses an allowance matrix to measure the expected credit losses of trade receivables
(which are considered impaired). The following table provides information about the exposure to
credit risk and loss allowance (including expected credit loss provision) for trade receivables:

(ii) Financial instruments and deposits

Credit risk from balances with banks and financial institutions is managed by the Company’s
treasury department in accordance with the Company’s policy. Investments of surplus funds
are made in bank deposits and other risk free securities. The limits are set to minimize the
concentration of risks and therefore mitigate financial loss through counterparty’s potential failure
to make payments. The Company’s maximum exposure to credit risk for the components of the
balance sheet at March 31, 2025 is the carrying amounts . The Company’s maximum exposure
relating to financial instrument is noted in liquidity table below.

Trade Receivables and other financial assets are written off when there is no reasonable expectation
of recovery, such as debtor failing to engage in the repayment plan with the Company.

31 Capital management

For the purposes of Company's capital management, Capital includes equity attributable to the equity holders
of the company and all other equity reserves. The primary objective of the Company's capital management is
to safeguard its ability to continue as going concern and to ensure that it maintains an efficient capital structure
and maximize shareholder value. The Company manages its capital structure and makes adjustments in light
of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust
the capital structure, the Company may adjust the dividend payment to shareholders or issue new shares.
The Company is not subject to any externally imposed capital requirements. No changes were made in the
objectives, policies or processes for managing capital during the year ended March 31,2025 and March 31,
2024. The Company monitors capital using gearing ratio, which is net debt divided by total capital plus net
debt. Net debt is calculated as loans and borrowings less cash and cash equivalent.

33 Additional information required

(i) Details of Benami property: No proceedings have been initiated on or are pending against the company
for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
Rules made thereunder.

(ii) Wilful defaulter: The Company has not been declared wilful defaulter by any bank or financial institution

or government or any government authority.

(iii) Compliance with approved scheme of arrangements: The Company has not entered into any scheme of

arrangement which has an accounting impact on current or previous financial year.

(iv) "Utilisation of borrowed funds and share premium: The Company has not advanced or loaned or invested

funds to any other person or entity, 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 group (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 or entity, including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

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

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

(v) Details of crypto currency or virtual currency: The Company has not traded or invested in crypto currency
or virtual currency during the current or previous year.

(vi) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its
property, plant and equipment (including right-of-use assets) or intangible assets or both during the
current or previous year.

(vii) Utilisation of borrowings availed from banks and financial institutions: The borrowings obtained by the
Company from banks and financial institutions have been applied for the purposes for which such loans
were was taken.

(viii) Relationship with struck off companies - The company do not have any transactions with the companies
struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956

(ix) Registration of charges or satisfaction with Registrar of Companies - The Company do not have any
charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

34 Other Disclosures

The other additional disclosures and information's (not specifically disclosed) as required by Schedule III are
either nil or not applicable.

35 Corporate social responsisbilty

During the year the company is required to contribute Rs.120.42 Lakhs towards the CSR contribution and
company has incurred Rs. 120.42 Lakhs towards the "Education Purpose".

During the year CSR expenses incurred by the company as per the section 135 of the companies act 2013
as provided below:-

37 GST Balance as on Balance Sheet date is subject to confirmation wiith the balances from GST portal. However,
the Management does not forsee any material variation between the book balance and the portal balance.

38 The accompanying notes form an integral part of the standalone financial statements.Previous year figures
have been regrouped/rearranged to confirm them to current years figures.

As per our report of even date

For Bhuta Shah & Co LLP For and on behalf of the board of directors of

Chartered Accountants Vidhi Specialty Food Ingredients Limited

Firm Registration No. 101474W / W100100

Bipin M. Manek Mihir B. Manek

Atul Gala Chairman & Managing Director Joint Managing Director

Partner DIN: 00416441 DIN: 00650613

Membership No. 048650

Mitesh D. Manek

Chief Financial Officer

Place : Mumbai Place : Mumbai

Date : 12th May, 2025 Date : 12th May, 2025