Notes to Accounts of Graphisads Ltd.

Mar 31, 2025

o) Provisions, Contingent Liabilities and Contingent Assets (AS-29)

Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of
the amount of the obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for: -

(i) Possible obligations which will be confirmed only by future events not wholly within the control of the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of resources will be required to
settle the obligation or a reliable estimate ofthe amount ofthe obligation cannot be made.

Contingent assets are not recognized in the financial statement since this may result in the recognition of the income that
may never be realized.

p) Earnings per share

i. Basic earnings per share

Basic earnings per share is calculated by dividing:

• The profit attributable to owners ofthe 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.

ii. Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account.

• The after-income tax effect of interest and other financing costs associated with dilutive potential equity shares and

• The weighted average number of additional equity shares that would have been outstanding assuming the
conversion of all dilutive potential equity shares.

q) Functional and Presentation Currency

i. Amounts in the financial statements are presented in Indian Rupees (INR) in lakhs, rounded off to two decimal
places, as permitted by Schedule III ofthe Companies Act, 2013, unless otherwise stated.

ii. Earnings per share (EPS) are presented in Indian Rupees, rounded to two decimal places.

11. There are no contingent liabilities outstanding as at the balance sheet date, except that the GST audits for the financial
years 2018-19 to 2023-24 are currently in progress, and the outcome of such audits and any resultant liabilities, if any, are
presently unascertainable. Further, an income tax demand amounting to Rs. 43.24 lakhs relating to Assessment Year
2022-23 is outstanding, for which a rectification request has been filed with the Assessing Officer.

12. There are no charges or satisfaction of charge pending to be registered with Registrar of Companies beyond the statutory
period, as applicable.

13. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

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

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

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

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

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

15. The company has not been declared wilful defaulter by any bank or financial institution or other lender during the year.

16. The company has complied with the number of layers prescribed u/s 2(87) ofthe Act read with Companies (Restriction on
number of layers) Rules, 2017.

17. The company does not hold any Benami property and no proceeding have been initiated or pending against the company
in such respect.

18. The company has not entered into any transactions with struck off companies.

19. The company has not traded or invested in Crypto currency or Virtual Currency during the year.

20. The Company has acquired certain properties, with the consideration adjusted against a prior barter transaction executed
with the vendor. The advance previously classified as "Trade Receivable" has been settled through this arrangement.

21. The company has made detailed assessment of its liquidity position and of the recoverability and carrying value of its
assets as on the balance sheet date and has concluded that no material adjustments are required to be made in financial
tatements.

22. In the opinion of the management all the assets of the company have a value on realization in the ordinary course of
business, at least equal to the amount at which they are stated in the financial statements.

23. Previous year figures have been regrouped wherever necessary.

As per our report of even date attached

FOR & ON BEHALF OF FOR & ON BEHALF OF BOARD OF DIRECTORS

BAS & CO. LLP
CHARTERED ACCOUNTANT
FRN 323347E/E300008

MUKESH KUMAR GUPTA ALOK GUPTA

MANGING DIRECTOR WHOLE TIME DIRECTOR

DIN:00093322 DIN:01456388

(CA RITIKA AGARWAL)

M.No. 527731

_{UDIN: 25527731BMIART5824} SHOBHARAM DHAMA ANIL KUMAR RUSTAGI

_Date: 2₉^,h _May, ₂₀₂₅ COMPANY SECRETARY CHIEF FINANCIAL OFFICER

_Place_{: NEW DELHI} PAN: AEKPD6998N DIN: 06460177

---

Mar 31, 2024

n) Provisions, Contingent Liabilities and Contingent Assets (AS-29)

Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the control of the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

Contingent assets are not recognized in the financial statement since this may result in the recognition of the income that may never be realized.

o) Earnings per share

i. 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.

ii. Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account.

• The after-income tax effect of interest and other financing costs associated with dilutive potential equity shares and

• The weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

p) Borrowing Costs

Borrowing costs that are attributable to the acquisition or construction of the qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended uses or sale. All other borrowing costs are charged to revenue in the year of incurrence.

13. There are no charges or satisfaction of charge pending to be registered with Registrar of Companies beyond the statutory period, as applicable.

14. The company has not been declared wilful defaulter by any bank or financial institution or other lender during the year.

15. The company has complied with the number of layers prescribed u/s 2(87) of the Act read with Companies (Restriction on number of layers) Rules, 2017.

16. The company does not hold any Benami property and no proceeding have been initiated or pending against the company in such respect.

17. The company has not entered into any transactions with struck off companies.

18. The company has not traded or invested in Crypto currency or Virtual Currency during the year.

19. The company has made detailed assessment of its liquidity position and of the recoverability and carrying value of its assets as on the balance sheet date and has concluded that no material adjustments are required to be made in financial statements.

20. In the opinion of the management all the assets of the company have a value on realization in the ordinary course of business, at least equal to the amount at which they are stated in the financial statements.

21. Utilisation of Initial Public Issue Proceeds

Proceeds from subscription to the Issue of Equity shares under Public Issue of 2023-24, made during the year ended March 31, 2024 have been utilised in the following manner: During the year the Company came up with the public issue of 48,12,000 Equity shares of Face value of ^10/- each equity shares through Fixed Price Method at a price of ^101/- per Equity Share (including a share premium of ^101/- per Equity Share) aggregating to ^5341.32 Lakhs

22. Previous year figures have been regrouped wherever necessary.

23. Whenever the balance confirmation is not available from the parties, the balance as appearing in the books of accounts have been considered and the same are subject to confirmation and reconciliation.

For & on Behalf of For & on Behalf of the Board of Directors:

BAS & Co. LLP Chartered Accountants FRN 323347E/E300008

(Ritika Agarwal (Mukesh Kumar Gupta) (Alok Gupta)

Mem No: 527731 Managing Director Director

Date:29/05/2024 DIN: 00093322 DIN: 01456388

Place: New Delhi UDIN: 24527731BKCJPQ9718

(SHOBHARAM DHAMA) ^{(ANIL KUMAR RUSTAGI)}

PAN: AEKPD6998N ^{DIN: 06460177}

COMPANY SECERTARY ^{CHIE FINANCIAL OFFICER}