Notes to Accounts of Alphalogic Industries Ltd.

Mar 31, 2025

7. Provisions and contingent liabilities

Provisions are recognized when the Company has a
present legal or constructive obligation as a result of
past events and it is probable that an outflow of
resources will be required to settle the obligation and
the amount can be reliably estimated. Provisions are not
recognized for future operating losses.

Provisions are measured at the present value of
management''s best estimate of the expenditure
required to settle the present obligation at the end of
the reporting period, taking into account the risks and
uncertainties surrounding the obligation.

These estimates are reviewed at each reporting date
and adjusted to reflect the current best estimates. If the
effect of the time value of money is material, provisions
are discounted. The discount rate used to determine the
present value is a pre tax rate that reflects current market
assessments of the time value of money and the risks
specific to the liability. The increase in the provision due
to the passage of time is recognized as interest expense.

Contingent Liabilities are disclosed in respect of
possible obligations that arise from past events but their
existence will be confirmed by the occurrence or non
occurrence of one or more uncertain future events not
wholly within the control of the Company or where any
present obligation cannot be measured in terms of
future outflow of resources or where a reliable estimate
of the obligation cannot be made.

8. Revenue Recognition

Revenue from sale of goods is recognised when control
of the products being sold is transferred to our
customer and when there are no longer any unfulfilled
obligations. The Performance Obligations in our
contracts are fulfilled at the time of dispatch, delivery or
upon formal customer acceptance depending on
customer terms.

Revenue is measured at fair value of the consideration
received or receivable, after deduction of any trade
discounts, volume rebates and any taxes or duties
collected on behalf of the government such as goods
and services tax, etc. Revenue is only recognised to the
extent that it is highly probable a significant reversal will
not occur.

Our customers have the contractual right to return
goods only when authorised by the Company. An
estimate is made for value of goods that will be returned
on best estimate based on accumulated experience,
which is insignificant.

Interest income is recognized on time proportion basis
after taking into account the materiality.

Dividend income is recognized when right to receive is
established.

9. Employee benefits
Short-term obligations

Liabilities for wages and salaries, including non¬
monetary benefits that are expected to be settled wholly

within 12 months after the end of the period in which the
employees render the related service are recognized in
respect of employees'' services up to the end of the
reporting period and are measured at the amounts
expected to be paid when the liabilities are settled.

10. Income tax
Current Income Tax:

Current Income Tax is measured at the amount expected
to be paid to the tax authorities in accordance with
Income Tax Act, 1961.

The income tax expense or credit for the period is the tax
payable on the current period''s taxable income based
on the applicable income tax rate adjusted by changes
in deferred tax assets and liabilities attributable to
temporary differences and to unused tax losses. Current
tax assets and tax liabilities are set off where the
Company has a legally enforceable right to offset and
intends either to settle on a net basis, or to realize the
asset and settle the liability simultaneously.

Deferred Tax:

Deferred income tax is provided in full, using the liability
method on temporary differences arising between the
tax bases of assets and liabilities and their carrying
amount in the financial statement. Deferred income tax is
determined using tax rates (and laws) that have been
enacted or substantially enacted by the end of the
reporting period and are expected to apply when the
related deferred income tax asset is realized or the
deferred income tax liability is settled.

Deferred tax assets are recognized for all deductible
temporary differences and unused tax losses, only if, it is
probable that future taxable amounts will be available to
utilize those temporary differences and losses.

Deferred tax assets and liabilities are offset when there is
a legally enforceable right to offset current tax assets and
liabilities and when the deferred tax balances relate to
the same taxation authority.

11. Earnings Per Share

The Company presents basic and diluted earnings per
share data for its ordinary shares.

Basic earnings per share

Basic earnings per share is calculated by dividing:

- The profit attributable to owners of the Company

- By the weighted average number of equity shares
outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year
and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share is determined by adjusting
the profit or loss attributable to ordinary shareholders
and the weighted average number of ordinary shares
outstanding, adjusted for own shares held and
considering the effect of all dilutive potential ordinary
shares.

12. Valuation of Inventory

Items of inventories are measured at lower of cost or net
realizable value after providing for obsolescence, if any.
Net realizable value represents the estimated selling
price less all estimated costs of completion and selling
expenses. Cost of inventories comprises of cost of
purchase, cost of conversion and other cost incurred in
the normal course of business in bringing them to their
respective present location and condition, where
applicable, including appropriate overheads based on
normal level of activity. Stores and spares are carried at
cost.

Cost of raw material, trading and other products is
determined on ''Weighted Average Price'' method. Cost
of finished stock is determined on absorption costing
method.

13. Foreign Currency Transactions

The financial statements are presented in India Rupees
(INR), which is company''s functional and presentation
currency.

a) Transactions denominated in foreign currencies are
recorded at the exchange rate prevailing on the date of
the transactions.

b) Monetary items denominated in foreign currencies at
the year-end are restated at year-end rates. The resultant
exchange differences are recognized in the statement of
Profit and Loss.

c) Non-monetary items are carried at cost.

d) Any income or expense on account of exchange
difference either on settlement or on translation is
recognized in the Statement of Profit & Loss.

14. Cash & Cash Equivalents

Cash and cash equivalents for the purpose of
presentation in the statement of cash flows comprises of
cash in hand and deposit with banks. Bank overdrafts
are shown within current borrowings in the Balance
Sheet.

15. Cash Flow Statement

Cash flows are reported using the indirect method as set
out in Ind AS 7, ''Statement of Cash Flows'', whereby
profit before tax 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
Company are segregated.

16. Critical estimates and judgments -

The preparation of financial statements requires the use
of accounting estimates which by definition will seldom
equal the actual results. Management also needs to
exercise judgment in applying the accounting policies.

This note provides an overview of the areas that involved
a higher degree of judgment or complexity, and items
which are more likely to be materially adjusted due to
estimates and assumptions turning out to be different
than those originally assessed. Detailed information
about each of these estimates and judgments is
included in relevant notes together with information
about the basis of calculation for each affected line item
in the financial statements.

The estimates and judgments used in the preparation of
the financial statements are continuously evaluated by
the Company and are based on historical experience
and various other assumptions and factors (including
expectations of future events) that the Company believes
to be reasonable under the existing circumstances.
Differences between actual results and estimates are
recognized in the period in which the results are known/
materialized.

The said estimates are based on the facts and events,
that existed as at the reporting date, or that occurred
after that date but provide additional evidence about
conditions existing as at the reporting date.

Securities Premium:

Premium received on equity shares are recognised in the securities premium and is utilised in accordance
with provisions of the Act.

Retained Earnings:

Retained earnings comprises of the profits that the Company has earned till date.

For Patki & Soman For and on behalf of the board of

Chartered Accountants Alphalogic Industries Limited

Firm Reg. No.: 107830W

Shripad S. Kulkarni Vedant Goel Montu Bhai Gandhi

PARTNER Managing Director Director & CEO

Membership No.121287 DIN : 08290832 DIN : 07352079

Place : Pune

Date : 06-05-2025 Aayushi Khandelwal Krina Gandhi

UDIN : 25121287BMHYSI6820 Company Secretary Chief Financial Officer

---

Mar 31, 2024

(B) Rights, Preferences and Restrictions attached to shares

(i) The company has one class of equity shares having a par value of Rs.10 each.

(ii) Each shareholder is eligible for one vote per share held.

(iii) Each holder of the Equity Share is entitled to one vote per Share. The Company declares and pays dividend in Indian Rupees.

(iv) In the event of liquidation of the Company, the holders of Equity Shares shall 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. No preferential amounts exist as on the Balance Sheet date.

(E) In the period of five years immediately preceeding March 31, 2024

(i) The Company, as per the Special Resolution passed through postal ballot e-voting process declared on 18th November, 2023 has made allotment of bonus shares on 02nd December, 2023. Details of the bonus issue are as under:

Bonus Ratio : 1:1

No. of Shares Issued : 50,94,600 equity shares

The bonus issue of shares was from the balance of Securities Premium Account as on that date (Rs. 509.46 lakhs).

(ii) The Company has made a Public Issue of Shares on 14th July, 2023. The Company has its shares listed on the SME Platform of the BSE Limited. Details of the Public Issue of shares are as under:"

No. of Shares Issued : 13,41,600 equity shares Issue Price (per share) : Rs. 96 Face Value (per share) : Rs. 10 Securities Premium (per share) : Rs. 86 Issue Proceeds : Rs. 1,287.94 lakhs Towards Share Capital : Rs. 134.16 lakhs Towards Securities Premium: Rs.1,153.78 lakhs

(iii) The Company, as per the Special Resolution passed in its Extraordinary General Meeting held on 15th May, 2023 has made a bonus issue of shares on 18th May, 2023. Details of the bonus issue are as under:

Bonus Ratio : 11:1

No. of Shares Issued : 34,40,250 equity shares

The bonus issue of shares was from the balance of Securities Premium Account as on that date (Rs. 144.11 lakhs) and surplus in Profit & Loss Account (Rs. 199.91 lakhs).

(iv) During the financial year 2022-23, the company has made an allotment of 1,16,672 equity shares of Rs.10 each amounting to Rs.11.67 lakhs by way of Rights Issue. The shares were issued at a premium of Rs.105 per share amounting to Rs.122.51 lakhs.

No. of shares issued : 1,16,672 equity shares Issue Price (per share) : Rs. 115 Face Value (per share) : Rs. 10 Securities Premium (per share) : Rs. 105 Issue Proceeds : Rs. 134.17 lakhs Towards Share Capital : Rs. 11.67 lakhs Towards Securities Premium : Rs. 122.51 lakhs

(v) During the financial year 2021-22, the company has made an allotment of 96,078 equity shares of Rs. 10 each amounting to Rs. 9.61 lakhs by way of Rights Issue. The shares were issued at a premium of Rs. 28.5 per share amounting to Rs. 27.38 lakhs.

No. of shares issued : 96,078 equity shares Issue Price (per share) : Rs. 38.50 Face Value (per share) : Rs. 10 Securities Premium (per share) : Rs. 28.50 Issue Proceeds : Rs. 36.99 lakhs Towards Share Capital : Rs. 9.61 lakhs Towards Securities Premium : Rs. 27.38 lakhs

24. Segment Reporting

The whole business of the Company is treated as a single segment.

26. Tax provision is governed by using tax laws, rules, notifications, circulars, instructions, etc that are enacted as on the balance sheet date.

27. Financial Risk Management:

A. Credit Risk:

Credit risk arises from the possibility that the counter party may not be able to settle their obligations as agreed. To manage this, the Company periodically assesses financial reliability of customers and other counter parties, taking into account the financial condition, current economic trends, and analysis of historical bad debts and ageing of financial assets. Individual risk limits are set and periodically reviewed on the basis of such information."

The Company considers the probability of default upon initial recognition of asset 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 default occurring on

asset as at the reporting date with the risk of default as at the date of initial recognition. It considers reasonable and supportive forwardinglooking information such as:"

i. Actual or expected significant adverse changes in business,"

ii. Actual or expected significant changes in the operating results of the counterparty,"

ii. Financial or economic conditions that are expected to cause a significant change to the counterparty’s ability to meet its obligations,

iv. Significant increase in credit risk on other financial instruments of the same counterparty,

v. Significant changes in the value of the collateral supporting the obligation or in the quality of the third-party guarantees or credit enhancements."

Financial assets are written off when there are no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company.

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 and to close out market positions. Due to the dynamic nature of the underlying businesses, Company treasury maintains flexibility in funding by maintaining availability under committed credit lines.

Management monitors rolling forecasts of the Company’s liquidity position and cash and cash equivalents on the basis of expected cash flows.

C. Capital Risk Management (a) Risk Management

The Company aim to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimize returns to our shareholders.

The capital structure of the Company is based on management’s judgment of the appropriate balance of key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in proportion to risk and manage the capital structure in 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 or issue new shares."

The Company’s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors and market confidence and to sustain future development and growth of its business. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

29. Fair Value Measurement - Annexure enclosed

30. Earnings Per Share

Basic earnings per share is computed by dividing profit or loss attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the period. The Company did not have any potentially dilutive securities in any of the years presented.

The Basic and Diluted earnings per share is restated for the comparative period after taking into consideration the effect of Bonus issue as on 02nd December 2023 and 18th May, 2023.

31. Micro enterprises and small enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 have been determined based on the confirmations received from the management. The Company owes dues to micro, small and medium enterprises, which are outstanding for more than 45 days as at 31st March, 2024. Interest in terms of Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 is payable as at March 31, 2024. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act 2006 has been

determined to the extent such parties have been identified on the basis of information available with the company.

32. Related Party Disclosures List of Related Parties

i. Promoter

? Holding Company: Alphalogic Techsys Limited

ii. Key Managerial Personnel

? Mr. Vedant Goel, Managing Director

? Mr. Anshu Goel, Non-Executive Director

?Mr. Montubhai Gandhi, Executive Director & Chief Executive Officer

? Mrs. Krina Gandhi, Executive Director & Chief Financial Officer

?Mr. Rohan Wekhande, Independent Director

? Mr. Amar Raykantiwar, Independent Director

? Ms. Aayushi Khandelwal, Company Secretary and Compliance Officer

?Ms. Vanshika Sharma, Company Secretary and Compliance Officer of Holding Company

iii. Relative of Director

? Mrs. Angrejobai Goel

iv. Entities over which Key Managerial Personnel or their relatives are able to exercise significant influence:

? Alphalogic Techsys Limited - Holding Company

? Shree Krishna Engi Corp - An Entity in which Director is Proprietor

? Neo Mega Steel LLP - A firm in which Director is Partner

v. Subsidiary of Promoter Company

? Faraday Digital Inc. (Liquidated as on 22nd December, 2023)

33. Ratio Analysis - Refer Annexure

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

iii. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the year."

iv. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

v. The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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(is), 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"

vi. Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries."

vii. The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax

Viii. The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India."

Ix. The Company has complied with the number of layers for its holding in downstream companies prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

x. The Company has not revalued any of its Property, Plant and Equipment during the year."

35. Contingent Liabilities

The company has not been registered under PF and ESIC Acts. The liability arising out of the same cannot be ascertained.

The company has not provided for the retirement benefits of employees as per "IND AS 19: Employee Benefits". The impact of the same cannot be ascertained.

36. Previous year’s figures have been regrouped, rearranged, reworked & reclassified wherever necessary."

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Mar 31, 2023

7. Provisions and contingent liabilities

Provisions are recognized when the Company has a present legal or constructive obligation as a result
of past events and it is probable that an outflow of resources will be required to settle the obligation

and the amount can be reliably estimated. Provisions are not recognized for future operating losses.

Provisions are measured at the present value of management''s best estimate of the expenditure
required to settle the present obligation at the end of the reporting period. The discount rate used to
determine the present value is a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the liability. The increase in the provision due to the passage of
time is recognized as interest expense.

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events but
their existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future
events not wholly within the control of the Company or where any present obligation cannot be
measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot
be made.

8. Income Recognition

Revenue from sale of goods is recognized when control of the products being sold is transferred to our
customer and when there are no longer any unfulfilled obligations. The Performance Obligations in
our contracts are fulfilled at the time of dispatch, delivery or upon formal customer acceptance
depending on customer terms.

Revenue is measured at fair value of the consideration received or receivable, after deduction of any
trade discounts, volume rebates and any taxes or duties collected on behalf of the government such as
goods and services tax, etc. Revenue is only recognized to the extent that it is highly probable a
significant reversal will not occur.

Our customers have the contractual right to return goods only when authorized by the Company. An
estimate is made for value of goods that will be returned on best estimate based on accumulated
experience, which is insignificant.

Income from services rendered is recognized based on agreements/arrangements with the customers
as the service is performed and there are no unfulfilled obligations.

Interest income is recognized on time proportion basis after taking into account the materiality.
Dividend income is recognized when right to receive is established.

9. Employee benefits
Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled
wholly within 12 months after the end of the period in which the employees render the related service
are recognized in respect of employees'' services up to the end of the reporting period and are
measured at the amounts expected to be paid when the liabilities are settled.

10. Income tax

The income tax expense or credit for the period is the tax payable on the current period''s taxable
income based on the applicable income tax rate adjusted by changes in deferred tax assets and
liabilities attributable to temporary differences and to unused tax losses.

Deferred income tax is provided in full, using the liability method on temporary differences arising
between the tax bases of assets and liabilities and their carrying amount in the financial statement.
Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially
enacted by the end of the reporting period and are excepted to apply when the related deferred
income tax asset is realized or the deferred income tax liability is settled.

Deferred tax assets are recognized for all deductible temporary differences and unused tax losses, only
if, it is probable that future taxable amounts will be available to utilize those temporary differences
and losses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current
tax assets and liabilities and when the deferred tax balances relate to the same taxation authority.
Current tax assets and tax liabilities are off set where the Company has a legally enforceable right to
offset and intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously.

11. Earnings Per Share
Basic earnings per share

Basic earnings per share is calculated by dividing:

- The profit attributable to owners of the Company

- By the weighted average number of equity shares outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year and excluding treasury shares.

12. Valuation of Inventory

Items of inventories are measured at lower of cost or net realizable value after providing for
obsolescence, if any. Cost of inventories comprises of cost of purchase, cost of conversion and other
Cost incurred in bringing them to their respective present location and condition.

Cost of raw material, trading and other products are determined on ''Weighted Average Price'' method.
Cost of finished stock is determined on absorption costing method.

13. Foreign Currency Transactions

The financial statements are presented in India Rupees (INR), which is company''s functional and
presentation currency.

a) Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on
the date of the transactions.

b) Monetary items denominated in foreign currencies at the year-end are restated at year-end rates.
The resultant exchange differences are recognized in the statement of Profit and Loss.

c) Non-monetary items are carried at cost.

d) Any income or expense on account of exchange difference either on settlement or on translation is
recognized in the Statement of Profit & Loss.

14. Critical estimates and judgments -

The preparation of financial statements requires the use of accounting estimates which by definition
will seldom equal the actual results. Management also needs to exercise judgment in applying the
accounting policies.

This note provides an overview of the areas that involved a higher degree of judgment or complexity,
and items which are more likely to be materially adjusted due to estimates and assumptions turning
out to be different than those originally assessed. Detailed information about each of these estimates
and judgments is included in relevant notes together with information about the basis of calculation
for each affected line item in the financial statements.

The estimates and judgments used in the preparation of the financial statements are continuously
evaluated by the Company and are based on historical experience and various other assumptions and
factors (including expectations of future events) that the Company believes to be reasonable under the
existing circumstances. Differences between actual results and estimates are recognized in the period
in which the results are known/materialized.

The said estimates are based on the facts and events, that existed as at the reporting date, or that
occurred after that date but provide additional evidence about conditions existing as at the reporting
date.

15. Cash & Cash Equivalents

Cash and cash equivalents comprise cash and deposit with banks.

16. Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit before tax 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 Company are segregated

26. Financial Risk Management:

A. Credit Risk:

Credit risk arises from the possibility that the counter party may not be able to settle their obligations as
agreed. To manage this, the Company periodically assesses financial reliability of customers and other
counter parties, taking into account the financial condition, current economic trends, and analysis of
historical bad debts and ageing of financial assets. Individual risk limits are set and periodically reviewed on
the basis of such information.

The Company considers the probability of default upon initial recognition of asset 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 default occurring on
asset as at the reporting date with the risk of default as at the date of initial recognition. It considers
reasonable and supportive forwarding-looking information such as:

i. Actual or expected significant adverse changes in business,

ii. Actual or expected significant changes in the operating results of the counterparty,

iii. Financial or economic conditions that are expected to cause a significant change to the
counterparty''s ability to meet its obligations,

iv. Significant increase in credit risk on other financial instruments of the same counterparty,

v. Significant changes in the value of the collateral supporting the obligation or in the quality of the third-
party guarantees or credit enhancements.

Financial assets are written off when there are no reasonable expectations of recovery, such as a debtor failing
to engage in a repayment plan with the Company.

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
and to close out market positions. Due to the dynamic nature of the underlying businesses, Company treasury
maintains flexibility in funding by maintaining availability under committed credit lines. Management monitors
rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of expected
cash flows.

C. Capital Risk Management:

(a) Risk Management

The Company aim to manage its capital efficiently so as to safeguard its ability to continue as a going concern
and to optimize returns to our shareholders.

The capital structure of the Company is based on management''s judgment of the appropriate balance of key
elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in proportion
to risk and manage the capital structure in 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 or issue new shares.

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to
maintain investor, creditors and market confidence and to sustain future development and growth of its
business. The Company will take appropriate steps in order to maintain, or if necessary, adjust, its capital
structure.

31. Related Party Disclosures

List of Related Parties

i. Key Managerial Personnel

- Mr. Vedant Goel, Managing Director

- Ms. Neha Anshu Goel, Executive Director

- Mr. Subhash Tarachand Goel, Executive Director

- Mr. Anshu Goel, Non-Executive Director

- Mr. Dhananjay Goel, Non-Executive Director

- Mrs. Sushiladevi Subhash Goel, Non-Executive Director

- Mr. Montubhai Gandhi, Director

- Mrs. Krina Gandhi, Director

- Mrs. Vandana Sanjay Goel, Director

ii. Relative of Director
-Mrs. Angrejobai Goel

iii. Entities over which Key Managerial Personnel or their relatives are able to exercise significant
influence.

-Holding Company: Alphalogic Techsys Limited
-Shree Krishna Engi Corp
-Neo Mega Steel LLP

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

iii. The Company does not have any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of the Companies Act, 1956 during the year.

iv. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

v. The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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.

vi. The Company has not received any fund from any person(s) or entity(is), 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.

vii. The Company does not have any 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.

viii. The Company is not declared as willful defaulter by any bank or financial institution (as defined
under the Companies Act, 2013) or consortium thereof or other lender in accordance with the
guidelines on willful defaulters issued by the Reserve Bank of India.

ix. The Company has complied with the number of layers for its holding in downstream companies
prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies
(Restriction on number of Layers) Rules, 2017.

x. The Company has not revalued any of its Property, Plant and Equipment during the year.

xi. Tangible Capital WIP Ageing Schedule:

34. Contingent Liabilities

The company has not been registered under PF and ESIC Acts. The liability arising out of the same cannot be
ascertained.

The company has not provided for the retirement benefits of employees as per "IND AS 19: Employee
Benefits". The impact of the same cannot be ascertained.

35. Previous year''s figures have been regrouped, rearranged, reworked & reclassified wherever necessary.

For PATKI & SOMAN For and on behalf of the board of

Chartered Accountants Alphalogic Industries Limited

F.R.No. 107830W

SHRIPAD S KULKARNI VEDANT GOEL MONTUBHAI GANDHI

Partner Managing Director Director

Membership No.121287 DIN: 08290832 DIN: 07352079

Place: Pune
Date: 12-05-2023
UDIN:23121287BGUTKU6246