Notes to Accounts of Basilic Fly Studio Ltd.

Mar 31, 2025

10 Provisions and Contingent Liabilities:

A provision is recognised if, as a result of past event, the Company has a present legal obligation that can be
estimated reliably and it is probable that an outflow of economic benefit will be required to settle the obligation.
Provisions are determined by the best estimate of outflow of economic benefits required to settle the obligation
at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability. A
disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that
may, but probably will not, require an outflow of resources. Where there is possible obligation or present obligation
in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

11 Earnings Per Share:

Basic Earnings per share is computed by dividing the net profit after tax by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share is computed by dividing the net profit
after tax by the weighted average number of shares considered for deriving basic earnings per share and also the
weighted average number of equity shares that could have been issued upon conversion of all dilutive potential
equity shares. The diluted potential equity shares are adjusted for the proceeds receivable had the shares been
actually issued at fair value which is the average market value of the outstanding shares. Dilutive potential equity
shares are deemed converted as at the beginning of the period, unless issued at a later date. Dilutive potential
equity shares are determined independently for each period presented.

12 Cash and Cash Equivalents:

Cash and cash equivalents comprise cash on hand and Cheque in hand, balance with bank, demand deposits
with banks and other short term highly liquid investments that are readily convertible to known amounts of cash
& which are subject to an insignificant risk of changes in value where it has a short maturity of three months or
less from the date of acquisition.

13 Cash Flow Statement:

Cash flows are reported using indirect method, whereby net profit/loss 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.

The Company’s cash and cash equivalents consist of cash on hand and in banks and demand deposits with
banks, which can be withdrawn at any time, without prior notice or penalty on the principal. For the purposes of
the statement of cash flows, cash and cash equivalents include cash on hand, in banks and demand deposits
with banks, net of outstanding bank overdrafts that are repayable on demand and are considered part of the
Company’s cash management system. In the balance sheet, bank overdrafts are presented under borrowings
within current liabilities.

14 Investments:

Investments, which are readily realizable and intended to be held for not more than one year from the date on
which such investments are made, are classified as current investments. All other investments are classified as
long-term investments.

2 Proposed Dividend Details:

The Company has not declared dividend during the period under review.

3. The Company has issued 62,40,000 equity shares to the public having a face value of Rs.10 per share including share
premium of Rs.87 per share aggregating to Rs. 60.53 cr by way of Initial Public Offer (IPO) and got listed on Emerge
Platform of National Stock Exchange of India Limited on 11^th September, 2023.

I. The Company intends to utilise proceeds from IPO as per Object clause of the prospectus dated August 24,
2023

1. Expenditure for setup of Studio/Facility at Hyderabad and Salem

2. Expenditure for adding infrastructure to further strengthen the existing facilities/offices of the company
located at Chennai and Pune.

3. Making investment through equity in the subsidiaries for expansion of workspace by acquiring new office
space located at London and strengthen the existing facilities/offices located at Vancouver

4. General Corporate Purposes

4 In the opinion of the Board, the company has used borrowings from banks and financial institution only for the
specific purpose for which it was taken at the balance sheet date.

5 In the opinion of the Board, all of the assets other than Property, Plant and Equipment and noncurrent investments
have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

6 Details of Benami Property held:

There are no proceedings initiated or pending against the Company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

7 The Company has borrowings from banks or financial institutions on the basis of security of current assets, the
following are the details of statements submitted to bank:

10 Registration of charges or satisfaction with Registrar of Companies:

The Company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the
statutory period.

11 Compliance with number of layers of companies:

The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of Layers) Rules, 2017.

12 Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the reporting period.

13 Utilisation of Borrowed funds and share premium:

A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries)
with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

B. Where a 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

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

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

23 The amount remitted during the year in foreign currencies on account of dividends with a specific mention of the total
number of non-resident shareholders, the total number of shares held by them on which the dividends were due and
the year to which the dividends related;-NIL

24 Undisclosed income:

There are no transactions that were not recorded in the books of account, and which has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

There is no previously unrecorded income and related assets that have been recorded in the books of account during
the year.

25 Details of Crypto Currency or Virtual Currency:

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

26 Dues to Micro, Small and Medium Enterprises:

The principal amount remaining unpaid to the supplier regsitered under Micro, Small and Medium Enterprises
Development Act, 2006 that are outstanding of Rs. 0.99 cr for more than 45 days as at the end of reporting date.

Notes to be disclosed

1. Terms and conditions of sales and purchases: the sales and purchases transactions among the related
parties are in the ordinary course of business based on normal commercial terms, conditions, market rates
and memorandum of understanding signed with the related parties. For the year ended 31^st March, 2025, the
Company has not recorded any loss allowances for transactions between the related parties.

2. As the future liabilities for gratuity and leave encashment is provided on an actuarial basis and payment
of insurance costs are made for the Company as a whole, the amount pertaining to the key management
personnel is not ascertainable, therefore, not included above.

16 Employee Benefit (Incurred in India):

A. Provident Fund - The Company has contributed Rs.0.77 cr for the year ended 2025 and Rs.1.02 cr for the
year ended 2024 towards the Employees Provident Fund.

B. Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected
Unit Credit Method. This method considers each period of service as giving rise to an additional unit of
benefit entitlement and measures each unit separately to build up the final obligation.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation
of the actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of the benefits from the Plan’s benefit formula attributable
to the services rendered by employees during the accounting period.

Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial
assumptions. It could also occur due to changes made in the actuarial assumptions.

Mortality rate during employment Indian -Indian Assured Lives Mortality (2012-14) Ultimate

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation,
seniority, promotion and other relevant factors including supply and demand in the employment market. The
above information is certified by the actuary.

The company is only making book provisions for the entire Gratuity Liability on the valuation and follows a ‘pay
as you go’ system to meet the liabilities as and when they fall due. Therefore the scheme is fully unfunded, and
no assets are maintained by the company and asset values are taken as zero.

31 Cashflow Statement:

(1) The Company has no significant amount of cash and cash equivalent balances held that are not readily
available for use.

(2) The Company does not have undrawn borrowing facilities that may be available for future operating
activities.

(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.

(4) The Company is investing adequately in the maintenance of its operating capacity.

(5) There are no non cash transactions happened in investing and financing activities to be excluded from
Cash Flow Statement.

32 Disclosures on Property, plant and equipment and Intangible Assets:

I. Property, plant and equipment

1) The Company do have any restrictions on title, and property, plant and equipment pledged as security for
liabilities.

2) There is no amount of expenditure recognised in the carrying amount of an item of property, plant and
equipment in the course of its construction.

3) There is no contractual commitments for the acquisition of property, plant and equipment.

4) There is no amount of compensation from third parties for items of property, plant and equipment that
were impaired, lost or given up that is included in the statement of profit and loss.

5) The Company has no assets that are retired from active use and held for disposal

6) There is no temporarily idle property, plant and equipment at the reporting date.

7) The Company has no fully depreciated property, plant and equipment that is still in use.

8) The Company has not revalued any class of property, plant and equipment during the financial year.

9) The Company has no property, plant and equipment retired from active use and not held for disposal.

II. Intangible asset

1) The carrying amount and remaining amortization period of any individual intangible asset that is material
to the financial statements of the enterprise as a whole-Nil

2) The Company do not have any restrictions on title, and intangible assets pledged as security for liabilities.

3) There is no contractual commitments for the acquisition of intangible assets.

4) The Company has no fully amortised intangible asset that is still in use.

5) There is no acquisitions of intangible assets through business combinations.

33 Investments:

I. Profits and losses with regard to investments have been disclosed as under:

a) profits and losses on disposal of current investments -Not Applicable

36 Previous year''s figures have been regrouped / reclassified wherever necessary to conform with current year''s
classification.

As per our report of even date attached For and on behalf of the Board of Directors of

For L.U.KRISHNAN & CO BASILIC FLY STUDIO LIMITED

Chartered Accountants
Firm’s Registration.No: 001527S

P K Manoj Swati Sharma Gaurav Mehra Sundaram Yogalakshmi Balakrishnan

Partner Company Secretary Chief Financial Officer Wholetime Director Managing Director

Membership Number: 207550 Mem No: A54158 DIN: 07323404 DIN: 06590484

UDIN: 25207550BMJDIJ9491

Place: Chennai Place: Chennai

Date: 30^th May, 2025 Date: 30^th May 2025

---

Mar 31, 2024

1 Contingent liabilities and commitments (to the extent not provided for):
A. Contingent Liabilities		(Amount in ? Lakhs)
	Particulars	As at
		31-Mar-24	31-Mar-23
	Claims against the company not acknowledged as debt	-	-
	Guarantees	-	-
	Other money for which the company is contingently liable	-	-
	Total	-	-
B. Commitments		(Amount in ? Lakhs)
	Particulars	As at
		31-Mar-24	31-Mar-23
	Estimated amount of contracts remaining to be executed on capital account and not provided for	-	-
	Uncalled liability on shares and other investments partly paid	-	-
	Other commitments (specify nature)	-	-
	Total	-	-

2 Proposed Dividend Details:

The Company has not declared dividend during the period under review.

3 The Company has issued 62,40,000 equity shares to the public having a face value of Rs.10 per share including share premium of Rs.87 per share aggregating to Rs. 6,052.80 Lakhsby way of Initial Public Offer (IPO) and got listed on Emerge Platform of National Stock Exchange of India Limited on 11th September, 2023.

I. The Company intends to utilise proceeds from IPO as per Object clause of the prospectus dated August 24, 2023

1. Expenditure for setup of Studio/Facility at Hyderabad and Salem

2. Expenditure for adding infrastructure to further strengthen the existing facilities/offices of the company located at Chennai and Pune.

3. Making investment through equity in the subsidiaries for expansion of workspace by acquiring new office space located at London and strengthen the existing facilities/offices located at Vancouver

4. General Corporate Purposes

4 In the opinion of the Board, the company has used borrowings from banks and financial institution only for the specific purpose for which it was taken at the balance sheet date.

5 In the opinion of the Board, all of the assets other than Property, Plant and Equipment and noncurrent investments have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

6 Details of Benami Property held

There are no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

7 The company has no borrowing from the banks or financial institutions on the basis of security of current assets, hence no quarterly returns or statements of current assets are required to be filed by the Company with any the banks or financial institutions.

8 Wilful Defaulter

The company is not declared as wilful defaulter by any bank or financial institution or other lender during the reporting period.

9 Relationship with Struck off Companies

The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013.

10 Registration of charges or satisfaction with Registrar of Companies:

The Company do not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

11 Compliance with number of layers of companies:

The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

12 Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during the reporting period.

13 Utilisation of Borrowed funds and share premium:

A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

B. Where a 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

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

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

c. shortfall at the end of the year out of the amount required to be spent by the Company during the year - Nil

d. total of previous years shortfall - Section 135 is not applicable for the previous financial years.

e. The reason for above shortfalls by way of a note - Not Applicable

f. The nature of CSR activities undertaken by the Company,

g. Details of related party transactions - Nil

h. The Company has not made any provision with respect to a liability incurred by entering into a contractual obligation.

15 Corporate Social Responsibility:

The Company is covered under section 135, amount of expenditure incurred on corporate social responsibility activities are as follows:

a. amount required to be spent by the company during the year is Rs.24.74 Lakhs

b. amount of expenditure incurred is Rs. 24.75 Lakhs

18 (a) The Company has not set aside or proposed to be set aside any material amount to reserve, but not including

provisions made to meet any specific liability, contingency or commitment known to exist at the date as to which the balance sheet is made up.

19 (a) The Company has not set aside any material amount to provisions made for meeting specific liabilities,

contingencies or commitments.

24 Undisclosed income:

20 (a) Dividends from subsidiary companies- Nil

(b) Provisions for losses of subsidiary companies-Nil

There are no transactions that were not recorded in the books of account, and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

There is no previously unrecorded income and related assets have been recorded in the books of account during the year.

25 Details of Crypto Currency or Virtual Currency:

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

26 Dues to Micro, Small and Medium Enterprises:

The principal amount remaining unpaid to the supplier regsitered under Micro, Small and Medium Enterprises Development Act, 2006 are not outstanding for more than 45 days as at the end of reporting date.

27 Disclosure of related parties/related party transactions pursuant to Accounting Standard (AS) - 18 "Related Party Disclosures”:

23 The amount remitted during the year in foreign currencies on account of dividends with a specific mention of the total number of non-resident shareholders, the total number of shares held by them on which the dividends were due and the year to which the dividends related;-NIL

Notes to be disclosed

1. Terms and conditions of sales and purchases: the sales and purchases transactions among the related parties are in the ordinary course of business based on normal commercial terms, conditions, market rates and memorandum of understanding signed with the related parties. For the year ended 31st March, 2024, the Company has not recorded any loss allowances for transactions between the related parties.

2. As the future liabilities for gratuity and leave encashment is provided on an actuarial basis and payment of insurance costs are made for the Company as a whole, the amount pertaining to the key management personnel is not ascertainable, therefore, not included above.

3. No amounts in respect of related parties have been written off/ written back during the year or has not made any provision for doubtful debts/ receivable.

28 Income Taxes:I . Minimum Alternate Tax Credit

The Company has opted the lower tax regime under section 115BAA of the Income Tax Act, 1961. Hence, there

is no Minimum Alternate Tax credit recognised in the reporting year.

30 Employee Benefit (Incurred in India):

A. Provident Fund - The Company has contributed Rs.102.11 Lakhs for the year ended 2024 and Rs.50.78 Lakhs for the year ended 2023 towards the Employees Provident Fund.

B. Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of the benefits from the Plan''s benefit formula attributable to the services rendered by employees during the accounting period.

Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions. It could also occur due to changes made in the actuarial assumptions.

Mortality rate during employment Indian -Indian Assured Lives Mortality (2012-14) Ultimate

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The company is only making book provisions for the entire Gratuity Liability on the valuation and follows a ''pay as you go'' system to meet the liabilities as and when they fall due. Therefore the scheme is fully unfunded, and no assets are maintained by the company and asset values are taken as zero.

31 Cashflow Statement

(1) The Company has no significant amount of cash and cash equivalent balances held that are not readily available for use.

(2) The Company does not have undrawn borrowing facilities that may be available for future operating activities.

(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.

(4) The Company is investing adequately in the maintenance of its operating capacity.

(5) There are no non cash transactions happened in investing and financing activities to be excluded from Cash Flow Statement.

32 Disclosures on Property, plant and equipment and Intangible AssetsI. Property, plant and equipment

1) The Company do have any restrictions on title, and property, plant and equipment pledged as security for liabilities.

2) There is no amount of expenditure recognised in the carrying amount of an item of property, plant and equipment in the course of its construction.

3) There is no contractual commitments for the acquisition of property, plant and equipment.

4) There is no amount of compensation from third parties for items of property, plant and equipment that were impaired, lost or given up that is included in the statement of profit and loss.

5) The Company has no assets that are retired from active use and held for disposal

6) There is no temporarily idle property, plant and equipment at the reporting date.

7) The Company has fully depreciated property, plant and equipment that is still in use.

8) The Company has not revalued any class of property, plant and equipment during the financial year.

9) The Company has no property, plant and equipment retired from active use and not held for disposal.

II. Intangible asset

1) The carrying amount and remaining amortization period of any individual intangible asset that is material to the financial statements of the enterprise as a whole-Nil

2) The Company do have any restrictions on title, and intangible assets pledged as security for liabilities.

3) There is no contractual commitments for the acquisition of intangible assets.

4) The Company has no fully amortised intangible asset that is still in use.

5) There is no acquisitions of intangible assets through business combinations.

33 Investments

I. Profits and losses with regard to investments have been disclosed as under:

a) profits and losses on disposal of current investments -Not Applicable

b) profits and losses on changes in the carrying amount of current investments -Not Applicable

c) profits and losses on disposal of long-term investments -Not Applicable

d) profits and losses on changes in the carrying amount of long- term investments -Not Applicable

II. The Company has no significant restrictions with regard to investments in subsidiaries on the right of ownership, realisability of investments or the remittance of income and proceeds of disposals.

36 Balance shown under head Sundry debtors, creditors and advances are subject to confirmation.

37 Previous year''s figures have been regrouped / reclassified wherever necessary to conform with current year''s classification.

---

Mar 31, 2023

1 Contingent liabilities and commitments (to the extent not provided for):
A. Contingent Liabilities			(Amount in * Lakhs)
			As at March 31,
Particulars			2023 2022
Claims against the company not acknowledged as debt Guarantees Other money for which the company is contingently liable			Nil Nil Nil Nil Nil Nil
Total			-
B. Commitments			(Amount in t Lakhs)
Particulars			As at March 31,
			2023 2022
Estimated amount of contracts remaining to be executed on capital account and not provided for Uncalled liability on shares and other investments partly paid Other commitments			Nil Nil Nil Nil Nil Nil
Total			-

2 Proposed Dividend Details:

The Company has not declared dividend during the period under review

3 No issue of securities were made for any specific purpose by the Company during the reporting year

4 The Company has not made borrowings from banks and financial institution for any specific purposes during the year.

The assets other than Property, Plant and Equipment, Intangible Assets and non-current investments have value on realization in the ordinary course of business equal to the amount at which they are stated

6 Details of Benami Property held

There are no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988}.

The company has no borrowing from the banks or financial institutions on the basis of security of current assets, hence no quarterly returns or statements of current assets are required to be filed by the Company with any the banks or financial institutions.

8 Wilful Defaulter

The company is not declared as wilful defaulter by any bank or financial institution or other lender.

9 Relationship with Struck off Companies

The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013.

10 Registration of charges or satisfaction with Registrar of Companies:

The Company do not have any charge to be registered with Registrar of Companies beyond the statutory period

11 Compliance with number of layers of companies:

The Company has subsidiaries with one layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

12 Compliance with approved Scheme(s) of Arrangements:

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

13 Utilisation of Borrowed funds and share premium:

A. The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(les), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

B. 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

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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. ___ __^

15 Corporate Social Responsibility:

Company shall not be required to comply with Corporate Social Responsibility (CSR) as provisions of section 115 of the Companies Act, 2013 is no’ applicable

16 During the year, the Company has set aside an amount of Rs. 1600 lakhs to reserve to issue Bonus Shares

No amounts have been set aside or uroposed to be set aside to reserve to meet any specific liability, contingency or commitment known to exit at the dare as at which balance sheet

¹⁷ made up.

20 Undisclosed income.

There are no transactions that were not recorded in the books of account, and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

There is no previously unrecorded income and related assets have been recorded in the books of account during the year

21 Details of Cry pto Currency or Virtual Currency:

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

22 Duet to Micro, Small and Me JIurti enterprises:

There are no dues to Micro, Small and Medium Enterprises at the close of the Reporting Period.

23 Disclosure of related parties/related party transactions pursuant to Accounting Standard (AS) -18 "Related Party Disclosures":

Figures within brockets (J represents Previous Year''s amount.

1 Terms and conditions of soles and purchases: the sores and purchases transactions among the related parties are rn the ordinary course of business based on normal commercial terms, conditrons. market rates and memorandum of understanding signed with the related parties. For the year ended 31st March. 2023. the Company has not recorded any loss allowances for transactions between the related parties.

2. As the future nobilities for gratuity and leave encashment is provided on an actuarial basis and payment of insurance costs are mode for the Company as a whole, the omount pertaining to the key management personnel is not ascertainable, therefore, not disclosed seperotely

3. No amounts In respect of related parties have been written off/ written back during the year or has not mode any provision for doubtful debts/ receivable.

26 Employee Benefit (Incurred In India):

Provident Fund ¦ The Company has contributed Rs.44.51 lakhs for the period ended March 31, 2023 and Rs. 30.53 lakhs in the previous year ended 31 March 2022 towards the Employees Provident Fund.

Employees¹ State Insurance - The Company has contributed Rs.2.63 lakhs for the period ended March 31, 2023 and Rs.l 24 lakhs in the previous year ended 31 March 2022 towards the Employees State Insurance Corporation.

Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of the benefits from the Plan''s benefit formula attributable to the services rendered by employees during the accounting period.

Actuarial Gain or Loss'' occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions. It could also occur due to changes made in the actuarial assumptions

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

27 Cashflow Statement

(1) The amount of significant cash and cash equivalent balances held by the enterprise as at March 31,2023 was Rs 536.13 lakhs that are available for use by Company.

(2) Company does not have undrawn borrowing facilities that may be available for future operating activities.

(3) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity

(4) Company is investing adequately in the maintenance of its operating capacity.

(5) There are no non cash transactions happened in investing and financing activities to be excluded from Cash Flow Statement.

28 Changes in Accounting Estimates

There are no changes in Accounting Estimates made by the Company during the year.

29 Changes in Accounting Policies

There are no changes in Accounting Polices made by the Company during the year.

30 Disclosures on PPE and Intangible Assets

I. Property, Plant and Equipment

(1) There is no restriction on the title of Property, Plant and Equipment and Property, Plant & Equipment was not pledged against borrowings.

(2) Company has not constructed any item in Property, Plant & equipment.

(3) Company has no contractual commitments for the acquisition of Property,Plant & Equipment.

(4) Company has no Impairment loss during the period for Property, Plant & Equipment

(5) No assets has been retired from active use and held for disposal

(6) There are no temporarily idle property, plant and equipment.

(7) There are no fully depreciated property, plant and equipment that is still in use.

(8) There are no amounts of intangible assets whose title is restricted and the carrying amounts of intangible assets pledged^fictjfi^or liabilities.

31 Investments

I. Profits and losses with regard to Investments have been disclosed as under:

a) profits and losses on disposal of current investments

b) profits and losses on changes in the carrying amount of current investments

c) profits and losses on disposal of long-term investments

d) profits and losses on changes in the carrying amount of long- te''m investments

II. Significant restrictions of the foliowing with regard to investments have been disclosed:

a) right of ownership of investments

b) realizability of investments

c) remittance of income on investments

d) remittance of proceeds of disposals

32 Segment Reporting

The Company does no? have reportable segment . The Company has only one segment namely VFX services hence segment reporting has not been presented.

36 Balance shuwn under head Sundry debtors, cred''tors and advanzes are subject to confirmation.

37 Previous year''s figures hive been regrouped / reclassified wherever necessary to correspond with current year''s cla