Notes to Accounts of Olatech Solutions Ltd.

Mar 31, 2025

(v) Provisions and Contingent Liabilities

Provisions: A provision is recognised when the Company has a present obligation as a result of 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.
Provisions determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each
reporting date and adjusted to reflect the current best estimates.

Contingent liabilities: A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the
occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not
recognised because it is not probable that an outflow of resources will be required to settle the obligation. The Company does not recognise a
contingent liability but discloses its existence in the financial statements.

(vi) Inventories:

Inventories are valued as follows:

Finished Goods : At Cost or Net Realisable Value whichever is lower
Scrap : At net realizable value

(vii) 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. For the purpose of presentation in the statement of cash flows, cash
and cash equivalents includes cash on hand, short-term deposits with original maturities of three months or less that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes in value.

(viii) Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.

(ix) Taxes on income

a. Current Tax:

Current income tax is measured at the amount expected to be paid to taxation authorities in accordance with the Income Tax Act, 1961 enacted in
India by using tax rates and the tax laws that are enacted at the reporting date.

b. Deferred Tax:

Deferred income tax reflect the impact of timing differences between taxable income and accounting income originating during the current year and
reversal of timing differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws those are enacted or substantively
enacted at the reporting date.

Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised and carried forward only to the extent that
there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.

(x) 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 non-current investments.

(xi) Interest & other related Financial Charges

Interest and other related financial charges are recognized as an expense for the period for which they are incurred as specified in Accounting
Standard (AS 16) on “Borrowing Costs”.

(xii) Foreign Currency Transactions

- Initial Recognition

Foreign currency transactions are recorded in the reporting currency by applying to the foreign currency amount the exchange rate between the
reporting currency and the foreign currency at the date of the transaction.

- Conversion

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical cost denominated
in a foreign currency are reported using the exchange rate at the date of the transaction and non-monetary items which are carried at fair value or
other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were determined.

- Exchange Differences

Exchange differences arising on the settlement of monetary items or on reporting such monetary items of company at rates different from those at
which they were initially recorded during the year, or reported in previous financial statements, are recognised as income or as expenses in the year
in which they arise.

(xiii) Earnings per share

Basic and diluted earnings per share are calculated by dividing the net profit for the year attributed to equity shareholders by the weighted average
number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

OTHER NOTES TO ACCOUNTS

30 Previous Year Figure have been regrouped and rearranged wherever necessary to make them comparable with current year figure

31 Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of
person

32 No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact of the same on Profit & Loss is not
determined

33 Additional Regulatory Information/disclosures as required by General Instructions to Schedule III to the Companies Act, 2013 are
furnished to the extent applicable to the Company

35 The Balance sheet, Statement of profit and loss, Statement of significant accounting policies and the other explanatory notes form an

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

For SACHIN & ASSOCIATES Olatech Solutions Limited

Chartered Accountants
Firm Registration Number: 015090C

Amit Kumar Singh Navneet Kakkar

Managing Director Director

DIN:06582830 DIN: 08329635

Sachin Kumar Yadav
PARTNER

Membership No.: 411062
Place: Lucknow

Date: 28th May 2025 Sher Bahadur Singh Nitin Patidar

UDIN: 25411062BMIDSO8584 Chief Financial Officer Company Secretary

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Mar 31, 2024

11. 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.

General:

Except wherever stated, accounting policies are consistent with the generally accepted accounting principles and have been consistently applied.

(B) Notes on Financial Statements

1. The SSI status of the creditors is not known to the Company; hence the information is not given.

2. Salaries includes directors remuneration on account of salary Rs. 4,35,65,431/-.

9. Additional Regulatory Information/disclosures as required by General Instructions to Schedule III to the Companies Act, 2013 are furnished to the extent applicable to the Company.

10. Previous year figures have been regrouped/rearranged wherever necessary.

Signature to notes 1 to 10

In terms of Our Separate Audit Report of Even Date Attached.

For, M/s. Sachin & Associates For, Olatech Solutions Limited

Chartered Accountants

FCA. Sachin Kumar Yadav Amit Singh Navneet Kakkar

Partner Director Director

Membership No. 411062 DIN: 06582830 DIN: 08329635

Place: Lucknow Date: 22.05.2024 UDIN: 24411062BKEFMB4423

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Mar 31, 2023

11. 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.

General:

Except wherever stated, accounting policies are consistent with the generally accepted accounting principles and have been consistently applied.

(B) Notes on Financial Statements

1. The SSI status of the creditors is not known to the Company; hence the information is not given.

2. Salaries includes directors remuneration on account of salary Rs. 1,41,59,930 /-.

3. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been taken at their book value subject to confirmation and reconciliation.

10. Previous year figures have been regrouped/rearranged wherever necessary.

11. WIP includes the site development expenses in course of engagement to provide data centre, telecom and IT solutions in the OSS-BSS segment and usually will be completed in less than 12 months hence categorized as WIP under current assets.

Signature to notes 1 to 11

In terms of Our Separate Audit Report of Even Date Attached.

For, M/s. Sachin & Associates For, Olatech Solutions

Limited Chartered Accountants

FCA. Sachin Kumar Yadav Amit Singh Navneet kakkar

Partner Director Director

Membership No: 411062 DIN: 06582830 DIN: 08329635

FRN:015090C

Place:Lucknow

Date:- 30.05.2023

UDIN: 23411062BGXQOS7995