Notes to Accounts of Power and Instrumentation (Gujarat) Ltd.

Mar 31, 2025

xii Provisions, contingent liabilities and
contingent assets

Provisions

A provision is recognised if, as a result of
a past event, the Company has a present
legal or constructive obligation that can be
estimated reliably, and it is probable that an
outflow of economic benefits will be required
to settle the obligation. If the effect of the
time value of money is material, provisions
are determined by discounting the expected
future cash flows at a pre-tax rate that reflects
current market assessments of the time value
of money and the risks specific to the liability.

Where discounting is used, the increase in
the provision due to the passage of time is
recognized as a finance cost.

Contingent Liability

A disclosure for a contingent liability is 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 a possible obligation or a present 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 recognised in the
financial statements. However, contingent
assets are assessed continually and if it is
virtually certain that an inflow of economic
benefits will arise, the asset and related
income are recognised in the period in which
the change occurs.

xiii Earning per share

Basic earnings per share is computed
by dividing the net profit for the period
attributable to the equity shareholders of
the Company by the weighted average
number of equity shares outstanding during
the period. The weighted average number of
equity shares outstanding during the period
and for all periods presented is adjusted for
events, such as bonus shares, other than the
conversion of potential equity shares that
have changed the number of equity shares
outstanding, without a corresponding change
in resources.

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

XIV Security Deposits

Security deposits assets are the moneys hold
by the debtors for the performance gurantee
as the same are part of the amount receivable
from debtors only, they have been shown as
book value only and not at fair value. Similarly
in case of security deposit liability company
has hold the amount for performance

gurantee and the same being part of the
amount payable to creditors only the same
have been booked at book value only.

XV Regrouping

Previous Year Figures have been regrouped/
rearranged wherever necessary to correspond
with the current year''s classifications/
disclosures.

Additional Regulatory Information:

I Title deeds of Immovable Properties not held in
name of the company

There are no instance of immovable property in
which the immovable property is jointly held with
others.

II The Company has not revalued it''s Property, Plant
and Equipment during the year ended on 31st
March 2025.

III The company has not granted Loans and Advances
in the nature of loans to promoters, Directors, KMPs
and the related parties either severally or jointly
with any other person that are repayable on
demand or without specifying any terms or period
of employment.

IV The Company does not have any Benami property,
where any proceeding has been initiated or
pending against the Company for holding any
Benami property.

V The Company has not been declared as a willful
defaulter by any lender who has powers to declare
a company as a willful defaulter at any time during
the financial year or after the end of reporting
period but before the date when the financial
statements are approved.

VI The Company does not have any transactions
with struck-off companies.

VII The Company does not have any charges or

satisfaction which is yet to be registered with
the Registrar of Companies (ROC) beyond the
statutory period.

VIII The Company has compiled with the number of
layers prescribed under clause (87) of section 2
of the Companies Act 2013 read with Companies
(Restrictions on number of Layers) Rules, 2017.

IX The company has not advanced or loaned or
invested funds to any other person(s) or entity(is),
including foreign Entities (interrnedlarles), 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 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 to
or on behalf of the Ultimate Beneficiaries.

XI The Company does not have any transactions
which is not recorded in the books of accounts
but 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).

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

XIV There are no foreign exchange earnings and outgo during the year.

XV The information as required to be disclosed pursuant under the Micro, Small and Medium Enterprises
Development Act, 2006 (MSMED Act, 2006) has been determined to the extent such parties have been
identified based on the information available with the Company. Therefore, We are not in any position to
determine any interest liability arising under the said Act and accordingly disclosure under section 22 of the
said Act is not made.

For, MAAK and Associates For and on behalf of the Board

Firm Registeration No. : 135024W Power and Instrumentation (Guj) Limited

Chartered Accountants

CA Marmik shah PADMARAJ P PILLAI KAVITA P PILLAI

Partner ManagingDirector Director

Membership No. : 133926 DIN:00647590 DIN:07731925

Date: 29-05-2025 ROHIT MAHESHWARI MAUNISH GANDHI

Place : Ahmedabad Chief Financial Officer Company Secretary

29 Employee Benefits

The Company contributes to the following post-employment defined benefit plans in India.

Defined Contribution Plan

The Contributions to the Employee''s State Insurance Corporation and Provident Fund of employees are made
to government administered fund and there are no further obligations beyond making such contributions.

Employer''s contribution to Provident Fund and Employees State Insurance recognized as an expense for the
year.

Defined Benefit Plan

The present value of defined benefit obligations is determined based on actuarial valuation measured
using the Projected Unit Credit Method. The assumptions and methodology used in compiling the actuarial
valuation report are consistent with the requirements of Indian Accounting Standard (Ind AS) 19.

Amount required to be spent by the company has been computed based on the signed financial statements
of the respective years.

31 Details of dues to micro and small enterprises as per MSMED Act, 2006

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26,
2008 which recommends that the Micro and Small Enterprises should mention in their correspondence
with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in
accordance with the ''Micro, Small and Medium Enterprises Development Act, 2006'' (''the MSMED Act'').

Accordingly, the disclosure in respect of the amounts payable to such Enterprises as at March 31, 2025 has
been made in the Financial Statements based on information received and available with the Company.
Further in view of the Management, the impact of interest, if any, that may be payable in accordance with
the provisions of the Act is not expected to be material. The Company has not received any claim for interest
from any Supplier as at the Balance Sheet date.

On basis of information and records available with the Company, the above disclosures are made in respect
of amount due to the micro and small enterprises, which have been registered with the relevant competent
authorities. This has been relied upon by the auditors. The Company has not received any memorandum
(as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise
Development Act, 2006) claiming their status during the year as micro, small or medium enterprises.
Consequently, there are no amounts paid/ payable to such parties during the year.

Note* The amount disclosed under related party transactions with Mr. Padmraj Pillai pertains to a part
payment made to him in connection with the contractual obligation undertaken by the Company to acquire
control over Peaton Electrical Company Limited and make it a subsidiary in the financial year 2025-26. This
payment does not constitute a loan or advance in the nature of loan falling under the purview of Section
185 or Section 186 of the Companies Act, 2013. The transaction is in the ordinary course of business and is in
furtherance of a binding agreement aimed at strategic acquisition.

Regrouping

Previous Year Figures have been regrouped/rearranged wherever necessary to correspond with the current
year''s classifications/disclosures.

Note

The Company is operationally and financially fully supported by its promoter Companies. In view of the
Company''s Long term business projections and promoter''s commitment to the business by providing for
necessary funds as and when need arises, the financial statements have been prepared on a going concern
basis.

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Mar 31, 2024

Axis Bank ECLGS

Secured against Hypothecation on Current Assets of both Present and Future on pari-passu basis with Kotak Bank, having monthly installment of Rs.10,26,1TI.00

Axis Bank ECLGS

Secured against Director’s Property plus hypothication on current assets of both Current and Future Kotak Bank ECLGS

Secured against Director’s Property plus hypothication on current assets of both Current and Future Axis Bank Term Loan

Secured against Director’s Property plus hypothication on current assets of both Current and Future

28 Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into

Equity shares.

29 Employee Benefits

The Company contributes to the following post-employment defined benefit plans in India.

Defined Contribution Plan

The Contributions to the Employee’s State Insurance Corporation and Provident Fund of employees are made to government administered fund and there are no further obligations beyond making such contributions.

Employer’s contribution to Provident Fund and Employees State Insurance recognized as an expense for the year.

Defined Benefit Plan

The present value of defined benefit obligations is determined based on actuarial valuation measured using the Projected Unit Credit Method. The assumptions and methodology used in compiling the actuarial valuation report are consistent with the requirements of Indian Accounting Standard (Ind AS) 19.

Sensitivity analysis is performed by varying a single parameter while keeping all the other parameters unchanged.

Sensitivity analysis fails to focus on the interrelationship between underlying parameters. Hence, the results may vary if two or more variables are changed simultaneously.

The method used does not indicate anything about the likelihood of change in any parameter and the extent of the change if any.

31 Details of dues to micro and small enterprises as per MSMED Act, 2006

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the ‘Micro, Small and Medium Enterprises Development Act, 2006’ (‘the MSMED Act’).

Accordingly, the disclosure in respect of the amounts payable to such Enterprises as at March 31, 2024 has been made in the Financial Statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any Supplier as at the Balance Sheet date.

On basis of information and records available with the Company, the above disclosures are made in respect of amount due to the micro and small enterprises, which have been registered with the relevant competent authorities. This has been relied upon by the auditors. The Company has not received any memorandum (as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise Development Act, 2006) claiming their status during the year as micro, small or medium enterprises. Consequently, there are no amounts paid/ payable to such parties during the year.

Dirxector’s Remuneration/Salary includes Bonus.

Related Parties have been identified by the management.

Above figures are excluding fair value adjustments, if any.

Regrouping

Previous Year Figures have been regrouped/rearranged wherever necessary to correspond with the current year’s classifications/disclosures.

NoteThe Company is operationally and financially fully supported by its promoter Companies. In view of the Company’s Long term business projections and promoter’s commitment to the business by providing for necessary funds as and when need arises, the financial statements have been prepared on a going concern basis.

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Mar 31, 2023

xii Provisions, contingent liabilities and contingent assets

Provisions

A provision is recognised if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time

value of money and the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost

Contingent Liability

A disclosure for a contingent liability is 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 a possible obligation or a present 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 recognised in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and related income are recognised in the period in which the change occurs.

xiii Earning per share

Basic earnings per share is computed by dividing the net profit for the period attributable to the equity shareholders of the Company by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares,

other than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources.

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

XIV Security Deposits

Security deposits assets are the moneys hold by the debtors for the performance gurantee as the same are part of the amount receivable from debtors only, they have been shown as book value only and not at fair value. Similarly in case of security deposit liability company has hold the amount for performance gurantee and the same being part of the amount payable to creditors only the same have been booked at book value only.

1.4 As the IND AS has been implemented for the first time, it''s crucial to acknowledge the role of management judgement and assumptions in this transition. The initial assumption and calculation has always an opportunity to enhance the understanding of the business case assumptions, refine the calculations and gradually improve the accuracy of presentation.

For, MAAK and Associates For and on behalf of the Board

Firm Registeration No. : 135024W Power and Instrumentation (Guj) Limited

Chartered Accountants

PADMARAJ P PILLAI KAVITA P PILLAI

CA Marmik shah Director Director

Partner DIN:00647590 DIN:07731925

Membership No. : 133926

Date: 26 May 2023 ROHIT MAHESHWARI SHEFALI KABRA

Place : Ahmedabad Chief Financial Officer Company Secretary

UDIN : 23133926BGWETH2869 PAN-CLKPM9297E PAN-EHAPK2873Q

Place: AHMEDABAD Date: 26 May 2023

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

The following reflects the income and share used in the basic and diluted EPS computation:

The Contributions to the Employee''s State Insurance Corporation and Provident Fund of employees are made to government administered fund and there are no further obligations beyond making such contributions.

Employer''s contribution to Provident Fund and Employees State Insurance recognized as an expense for the year.

Defined Benefit Plan

The present value of defined benefit obligations is determined based on actuarial valuation measured using the Projected Unit Credit Method. The assumptions and methodology used in compiling the actuarial valuation report are consistent with the requirements of Indian Accounting Standard (Ind AS) 19.