Notes to Accounts of P E Analytics Ltd.

Mar 31, 2025

r. Provisions, Contingent liabilities and Contingent assets
Provisions:

A provision is recognized when an enterprise has a present obligation as a result of past event and it is
probable that an outflow of resources will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to their present values and are determined
based on management estimates of the obligation required to settle at the Balance Sheet date. These
are reviewed at each Balance Sheet date and adjusted to reflect the current management estimates.

Contingent liabilities:

Contingent liabilities are disclosed in respect of possible obligations that have arisen from past events
and the existence of which will be confirmed only by the occurrence or non-occurrence of future
events not wholly within the control of the Company.

When there is an obligation in respect of which the likelihood of outflow of resources is remote, no
provision or disclosure is made.

Contingent assets:

Contingent assets are not disclosed in the financial statement unless an inflow of economic benefit is
probable.

s. Cash flow Statement

Cash flow is reported using the indirect method, whereby profit / (loss) before tax is adjusted for the
effects of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
The cash flows from operating, investing and financing activities of the Company are segregated
based on the available information.

b. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of ? 10 per share. Each holder of equity
shares is entitled to one vote per share. The distribution will be in proportion to the number of equity shares held
by the shareholders.

In the event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining
assets of the Company, after distribution of all the preferential amounts.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring
Annual General Meeting except in case of interim dividend. No dividend is declared by the company during the
year.

31. Employee Benefits

Gratuity is payable to all eligible employees of the Company on resignation, retirement, death or permanent disablement, in
terms of the provisions of the Payment of Gratuity Act. The liability for gratuity as at 31 March, 2025 is ?12,849 thousands/- (as at
31 March,2024 ?10,717 thousands/-) and the charge for the year ended 31 March, 2025 is ?2,481 thousands/- (as at 31 March,
2024 ?3,850 thousands/-) shown under "Gratuity expenses" in the Profit and Loss Account.

The Company provides for gratuity using the Projected Unit Credit method with actuarial valuations being carried out at each
balance sheet date, based on legislation as enacted up to the balance sheet date. Actuarial gains and losses are recognised in full
in the statement of profit and loss in the period in which they occur. Past service cost is recognised immediately to the extent that
the benefits are already vested.

The following table sets out the status of the gratuity plan as required by Accounting Standard - 15 on employee benefits:

*Claims of f 11 thousands/- against the company not acknowledged as debt refer to TDS demands for
the various assessment years.

**There is no capital and other commitment of the company as at 31st March, 2025 (31st March,
2024- NIL)

33.Segment Reporting

The Group is rendering two type of services, Website Subscription and Professional Services. Both
these services are integrated to each other and have similar economic characteristics being common
reporting authority, common employees, same type of customers and same method and process
used to render these services. Therefore, these type of services is considered as single business
segment. There is no other Business or Geographical segment which fulfils the criteria of 10% or
more of combined Revenue, thus Segment Reporting is not applicable to the Company.

34. The Company has taken office premises on cancellable operating lease. The lease rentals
recognised in the statement of Profit and Loss for the period April 01,2024 to March 31,2025 is f2,280
thousands/-(Previous Period, for the year ended March 31,2024 f2,280 thousands/-).

35. Corporate Social Responsibility (CSR)

The Company has constituted Corporate Social Responsibility Committee in accordance with the
provisions of Section 135 of the Companies Act. The average net profits of the Company for the last
three financial years 2021-2022, 2022-2023 and 2023-2024 was f 121,835 thousands calculated in
accordance with the provisions of Section 198 read with other applicable provisions of the Companies
Act 2013. Further, as per the requirement under Section 135 of the Companies Act 2013, at least 2%
of the average net profits amounting to f 2,437 thousands were to be contributed for carrying out
Corporate Social Responsibility activities. During the year 2024-25, the company has spent a sum of f
2,437 thousands towards education development and the CSR committee is in the process of
identifying the activities to discharge its CSR obligation.

Purpose to Section 135 of the companies Act, 2013, the details are as follows:-

1. Gross amount required to be spent during the year 2024-25 f 2,347 thousands (previous year
2023-24 f 2,217 thousands)

2. Amount spent during the year on:

Shortfall/ (excess) at the closing of the year - -

36. Previous Years figures

Previous year figures have been regrouped / reclassified, where necessary to conform to this
year''s classification. All figures are given in the Financial Statement in thousands unless
otherwise stated.

37. Title deeds of Immovable Properties

The Company does not own any immovable property except it has entered into lease
arrangements as a lessee, and all such lease agreements have been duly executed in favour
of the Company. Hence, this clause is not applicable.

38. The company has not revalued property, plant and equipment during the year ended
31st March, 2025

39. For the year ended 31st March 2022, the company had completed its Initial Public Offer
(IPO) and Offer for Sale of 27,72,000 shares of Face Value of r 10/- each at an issue price of
r114/- (inclusive of Security premium of f104/-) per share. The equity shares of the company
were allotted as on 30th March 2022 and the same were listed on NSE EMERGE w.e.f 4th
April 2022.

Details of the funds received from IPO and its utilization as on the balance sheet date is as
given below

Net un-utilized balances of net proceeds from Initial Public Offer (IPO) and Offer for Sale
(OFS) as at 31 -03-2025 were temporarily invested in deposits with the scheduled Banks.

40. The Indian Parliament has approved the Code on Social Security, 2020 which would
impact the contributions by the company towards Provident Fund and Gratuity. The Ministry
of Labour and Employment has released draft rules for the Code on Social Security, 2020 on
November 13, 2020, and has invited suggestions from stakeholders which are under active
consideration by the Ministry. The Company will assess the impact and its evaluation once
the subject rules are notified and will give appropriate impact

in its financial statements in the period in which, the Code becomes effective and the related
rules to determine the financial impact.

41. Legal Proceedings

The company has filed legal proceedings against Mr. Avinash Jha, the former director of the
subsidiary company and its related proprietorship firm and associated entities, under the
Bharatiya Nagarik Suraksha Sanhita, 2023, on grounds of alleged financial mismanagement
and embezzlement. To support the subsidiary company during its financial crisis, the
company extended financial assistance in the form of loans totalling f 10,000 thousands. Two
loan agreements were executed for this purpose: the first for f3,000 thousands dated 16th
August, 2024 and the second for f7,000 thousands dated 4th October, 2024.

42. Additional Disclosures

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

(ii) The company do not have any Benami property, where any proceeding has been initiated
or pending against the Group for holding any Benami property.

(iii) The company has not entered into arrangement and does not have any Scheme of
Arrangement in terms of Section 230 to 237 of the Companies Act, 2013.

(iv) The company has not been declared as wilful defaulter by any bank financial institution
or other lender.

(v) The Company has not surrendered or disclosed any transactions, previously unrecorded
as income in the books of account, in the tax assessments under the Income Tax Act, 1961 as
income during the year.

(vi) Where 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,
the name and CIN of the companies beyond the specified layers and the relationship/extent
of holding of the company in such downstream companies

(vii) The company has not traded or invested in Crypto currency or virtual currency during
the financial year ended 31st March,2025.

(viii) The company does not have any charges or satisfaction yet to be registered with
Registrar of Companies beyond the

statutory period.

(ix) The Company have 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.

(x) The Company have 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 Group 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.

(xi) The details of loans advanced by the company to promoters, directors, KMPs and other
related party during the year are

as follows:

*The Company has provided a loan of r10,000 thousands to its subsidiary company
"Propedge Valuations Private Limited", for a maximum term of one year, at an interest rate
of 10% per annum. Two loan agreements were executed for this purpose: the first for r3,000
thousands dated 16th August, 2024 and the second for r7,000 thousands dated 4th October,
2024.

43. Events Occurring after Balance Sheet Date

The Company has evaluated all events or transactions that occurred after 31st March, 2025
up to the date of signing of the Audit Report. Based on this evaluation, the Company is not
aware of any events or transactions that would require recognition or disclosure in the
financial statements.

For Singhi Chugh & Kumar For and on behalf of the board of directors of

Chartered Accountants P. E. Analytics Limited

FRN: 013613N

SD/- SD/- SD/-

Harsh Kumar (Partner) Samir Jasuja Vaishali Jasuja

Membership No.: 088123 Managing Director Director

Place: New Delhi DIN : 01681776 Din ¦ 01681830

Date: 16-05-2025 ''

SD/- SD/-

Dheeraj Kumar Tandon Prachi Bansal

Chief Financial Officer Company Secretary

---

Mar 31, 2024

o. Provision

A provision is recognized 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 are not discounted to their present value and are 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.

p. 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 recognized because it is not probable that an outflow of resources will be required to settle the obligation.

A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

q. Cash flow Statement

Cash flow is reported using the indirect method, whereby profit / (loss) before tax is adjusted for the effects of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

30. Employee Benefits

Gratuity is payable to all eligible employees of the Company on resignation, retirement, death or permanent disablement, in terms of the provisions of the Payment of Gratuity Act. The liability for gratuity as at 31 March, 2024 is INR 10,717/- thousands (as at 31 March, 2023 INR 10,172/- thousands) and the charge for the year ended 31 March, 2024 is INR 3,850/- thousands (as at 31 March, 2023 INR 1,140/- thousands) shown under "Gratuity expenses" in the Profit and Loss Account.

The Company provides for gratuity using the Projected Unit Credit method with actuarial valuations being carried out at each balance sheet date, based on legislation as enacted up to the balance sheet date. Actuarial gains and losses are recognised in full in the statement of profit and loss in the period in which they occur. Past service cost is recognised immediately to the extent that the benefits are already vested.

The following table sets out the status of the gratuity plan as required by Accounting Standard - 15 on employee benefits:

The amount has been donated to VEGA Schools registered under Section 12A of the Income Tax Act, 1961 for the purpose of education. Also the funds have been utilized for the project Vega Schools 76 Campus as per the terms & Conditions followed by the requirement of the law.

35. Since the company has not declared wilful defaulter by bank or financial Institution or other lender.

36. 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.

37. There is no scheme of arrangements required to be approved by the competent authority in terms of sections 230 to 237 of the Companies Act, 2013.

38. The Company has not traded or invested in crypto currency or virtual currency during the financial year.

39. The company does not have any undisclosed income which has been disclosed under the Income Tax Act, 1961.

40. Previous Years figures

Previous year figures have been regrouped / reclassified, where necessary to conform to this year''s classification.

All figures are given in Financial Statement in thousands unless otherwise stated.

41. Title deeds of immovable properties

The Company does not have any immovable property. Accordingly this clause is not applicable, further the company has lease arrangement as lessee and such leases are duly executed in favour of the company.

42. The Company has not revalued property, plant and equipment during the year ended 31^st March, 2024.

43. The Company does not have any Benami Property, where any proceeding has been initiated or pending against the group for

holding any Benami Property.

44. The Company have not advanced or loaned or invested funds to any other person(s) oe 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.

45. 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 group 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.

46. For the year ended 31^st March, 2022, the company has completed its initial public offer (IPO) and offer for Sale (OFS) of 27,72,000 shares of Face Value of INR10/- each at an issue price of INR 114/- (inclusive of security premium of Rs. 104/-) per share. The equity shares of the company were allotted as on 30^th March, 2022 and the same were listed on NSE EMERGE w.e.f. 4^th April, 2022. Details of Funds received from IPO and its utilization as on the Blance sheet date is as given below-

Net un-utilized balances of net proceeds from initial public offer (IPO) and offer for sale (OFS) as at 31-03-2024 were temporarily invested in deposits with the scheduled banks.

47. Since the company does not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

48. The Indian Parliament has approved the code of social security 2020 which would impact the contributions by the company towards provident fund and gratuity. The Ministry of labour and employment has released draft rules for the code of social security, 2020 on November 13, 2020 and has invited suggestions from the stakeholders which are under active consideration by the Ministry. The Company will access the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the code becomes effective and the related rules to determine the financial impact.

49. Events occurring after balance sheet date

The Company has evaluated all events or transactions that occurred after 31^st March,2024 up to the date of signing of the Audit Report based on this evaluation, the company is not aware of any events or transactions that would require recognition or disclosure in the financial statements.

For Singhi Chugh & Kumar For and on behalf of the board of directors of

Chartered Accountants P. E. Analytics Limited

FRN:013613N

SD/- SD/- SD/-

Harsh Kumar (Partner) Samir Jasuja Vaishali Jasuja

Membership No.: 088123 Managing Director Director

Place: New Delhi DIN : 01681776 DIN : 01681830

Date: 10-05-2024

SD/- SD/-

Dheeraj Kumar Tandon Nadeem Arshad

Chief Financial Officer Company Secretary

---

Mar 31, 2023

i) The Company has issued bonus shares to the exisiting equity shareholders by issuing 86,46,480 equity shares of INR 10 each in the ratio of 270:1 i.e ( two hundred seventy bonus equity shares for every one share held) as on 1st february 2022.

ii) During the year ended 31 March 2022, 3,51,600 equity shares were allotted of INR 10/- each for INR 40,082 thousands at an issue price of INR 114 per share through preferential issue which ranks pari passu with the existing equity shares of the Company in all respects including dividend.

ii) During the year ended 31 March 2022, the Company has completed Initial Public Offer (IPO) including a fresh issue of INR 1,65,528 thousands comprising of 14,52,000 equity shares of INR 10 each at an issue price of INR 114 per share. The equity shares of the company were allotted as on 30th March 2022 and the same were listed on NSE EMERGE w.e.f 4th April 2022.

b. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share.The distribution will be in proportion to the number of equity shares held by the shareholders.

In the event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all the preferential amounts.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual General Meeting except in case of interim dividend

As per the Key Employment Agreement dated October 20, 2014, outstanding convertible debenture shall be converted into one equity share of the Company upon the earlier of 18th September,2022 or the date entire additional contribution has been invested. Prior to such agreement the debentures were convertible as equity shares at par within three years at the option of the Company.

During the year ended, the Company has redeemed the debentures fully prior to IPO.

7.1 Micro, Small and Medium Enterprises

The company has received intimation from of its suppliers regarding their Status as Micro, Small and Medium Enterprise. There is no certain overdue as at 31st March 2022 payables to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006 (''MSMED Act''). The disclosures pursuant to the said MSMED Act are as follows:-

(Aggregate fair value of Investment in shares as on 31-3-2023 INR 61,588/- thousands (as on 31-03-2022 INR 50,876/- thousands), Hence Investment in shares are valued at original cost in Balance sheet.

*Number of IOC shares has been increased due to issue of Bonus Shares by IOC during the year in ratio of 1:2, so the number of shares has been increased 39,000 from 26,000 shares.

Prior to listing of equity shares, the Company has issued bonus share out of the security premium, the issue is treated as if it had occurred prior to the beginning of the year 2021, accordingly the previous year EPS adjusted.

Notes:

1) Total Debt - Long term Debt Short term debt

2) Earning for debt service = Net profit before taxes Depreciation and other amortizations Interest Loss on sale of Property, Plant and equipment.

3) Debt Service = Interest & Lease Payments Principal Repayments (excluding overdraft)

4) Revenue only credit sales only

5) Capital Employed = Tangible net worth Total Debt Deferred Tax Liability

6) Average trade debtors/payable/working capital/inventory/shareholder''s Equity =

(Opening Closing/2)

7) Return on investment has been Calculated on the investment sold during the year.

Reasons for variations more than 25% as compared to previous year

1. Current Ratio has fallen due to proceeds of OFS being parked in other liabilities account pending disbursement as at 31st March,2022.

2. Net Capital Turnover Ratio has fallen due to IPO proceeds lying parked in bank balances pending utilization

3. Return on capital employed - Due to IPO Allotment on 30-03-2022

4 Trade Payable turnover ratio is not applicable as trade payable mainly in the nature of expense payable being outstanding for less than 1 month.

31. Employee Benefits

Gratuity is payable to all eligible employees of the Company on resignation, retirement, death or permanent disablement, in terms of the provisions of the Payment of Gratuity Act. The liability for gratuity as at 31 March, 2023 is INR 10,172/-thousands (as at 31 March, 2022 INR 10,909/- thousands) and the charge for the year ended 31 March, 2023 is INR 1,140/-thousands (as at 31 March, 2022 INR 1,197/- thousands) shown under "Gratuity expenses" in the Profit and Loss Account.

The Company provides for gratuity using the Projected Unit Credit method with actuarial valuations being carried out at each balance sheet date, based on legislation as enacted up to the balance sheet date. Actuarial gains and losses are recognised in full in the statement of profit and loss in the period in which they occur. Past service cost is recognised immediately to the extent that the benefits are already vested.

The following table sets out the status of the gratuity plan as required by Accounting Standard - 15 on employee benefits:

*Claims against the company not acknowledged as debt refer to TDS demands for the various assessment years.

**There is no capital and other commitment of the company as at 31^st March, 2023 (31^st March, 2022- NIL)

33. The Company has taken office premises on cancellable operating. The lease rentals recognised in the statement of Profit and Loss for the period April 01,2022 to March 31,2023 is INR 2,280 thousands (Previous Period, for the year ended March 31,2022 INR 2,280 thousands/-).

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

35. Corporate Social Responsibility (CSR)

As per provisions of section 135 of Companies act 2013, the gross amount required to be spent by the company towards Corporate Social Responsibility (CSR) amounts to ^ 1,517 thousands/-. Accordingly the company has expended an amount totalling up to ^ 1,517 thousands/-. towards CSR Activities during the year on following projects:-

The amount has been donated to VEGA Schools registered under Section 12A of the Income Tax Act, 1961 for the purpose of education. Also the funds have been utilized for the project Vega Schools 76 Campus as per the terms & Conditions followed by the requirement of the law.

36. Since the company has not declared wilful defaulter by bank or financial Institution or other lender.

37. 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.

38. There is no scheme of arrangements required to be approved by the competent authority in terms of sections 230 to 237 of the Companies Act, 2013.

39. The Company has not traded or invested in crypto currency or virtual currency during the financial year.

40. The company does not have any undisclosed income which has been disclosed under the Income Tax Act, 1961.

41. Previous Years figures

Previous year figures have been regrouped / reclassified, where necessary to conform to this year''s classification.

All figures are given in Financial Statement in thousands unless otherwise stated

42. The Company has not revalued property, plant and equipment during the year ended 31^st March, 2023.

43. The Company does not have any Benami Property, where any proceeding has been initiated or pending against the group for

holding any Benami Property.

44. Title deeds of immovable properties

The Company does not have any immovable property. Accordingly this clause is not applicable, further the company has lease arrangement as lessee and such leases are duly executed in favour of the company.

45. The Company have not advanced or loaned or invested funds to any other person(s) oe 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.

46. 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 group 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.

47. For the year ended 31^st March, 2022, the company has completed its initial public offer (IPO) and offer for Sale (OFS) of 27,72,000 shares of Face Value of INR10/- each at an issue price of INR 114/- (inclusive of security premium of Rs. 104/-) per share. The equity shares of the company were allotted as on 30^th March, 2022 and the same were listed on NSE EMERGE w.e.f. 4^th April, 2022. Details of Funds received from IPO and its utilization as on the Blance sheet date is as given below-

Net un-utilized balances of net proceeds from initial public offer (IPO) and offer for sale (OFS) as at 31-03-2023 were temporarily

invested in deposits with the scheduled banks.

48. Valuations Segment of the company has been transferred to its subsidiary company "Propedge Valuations Private Limited" during the year and that is why consequential decrease in turnover and profit during the year. Therefore figures of the current year are not comparable with the figures of the previous year in case of standalone financials of Profit and Loss Account.

49. Since the company does not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.

50. The Indian Parliament has approved the code of social security 2020 which would impact the contributions by the company towards provident fund and gratuity. The Ministry of labour and employment has released draft rules for the code of social security, 2020 on November 13, 2020 and has invited suggestions from the stakeholders which are under active consideration by the Ministry. The Company will access the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the code becomes effective and the related rules to determine the financial impact.

51. Events occurring after balance sheet date

The Company has evaluated all events or transactions that occurred after 31^st March,2023 up to the date of signing of the Audit Report based on this evaluation, the company is not aware of any events or transactions that would require recognition or disclosure in the financial statements.