Notes to Accounts of Quint Digital Ltd.

Mar 31, 2025

t) Provisions and Contingent liabilities

Provisions are recognized when the Company has
a present obligation (legal or constructive) as a
result of a 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 measured at the best estimate of the
expenditure required to settle the present obligation
at the Balance Sheet date. If the effect of the time
value of money is material, provisions are determined
by discounting the expected future cash flows to net
present value using an appropriate pre-tax discount
rate that reflects current market assessments of the
time value of money and, where appropriate, the
risks specific to liability.

Contingent liability is disclosed for:

â¢ Possible obligations which will be confirmed
only by future events not wholly within the
control of the Company; or

â¢ 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.
However, when inflow of economic benefits is
probable, related assets are disclosed.

u) Contingent assets

Contingent assets are not recognised in the financial
statements since this may result in the recognition of
income that may not be realised. However, when the
realisation of income is virtually certain, then the related
asset is not a contingent asset and is recognised.

v) Trade and other payables

These amounts represent liabilities for services
provided to the company prior to the end of the
financial year which are unpaid. The amounts are
unsecured and are usually paid within 30 days
of recognition. Trade and other payables are
presented as current liabilities unless payment is
not due within 12 months after the reporting period.
They are recognised initially at their fair value and
subsequently measured at amortized cost using the
effective interest method.

w) Financial liabilities

Financial liabilities are measured at amortised cost
using the effective interest method. The Company
de-recognises financial liabilities when and only
when, the Company''s obligations are discharged,
cancelled or have expired. The difference between
the carrying amount of the financial liability deÂ¬
recognised and the consideration paid and payable
is recognised in Statement of Profit and Loss.

x) Borrowing

Borrowings are initially recognized at fair value,
net of transaction costs incurred. Borrowings are
subsequently measured at amortized cost. Any
difference between the proceeds (net of transaction
costs) and the redemption amount is recognised
in profit or loss over the period of the borrowings
using the effective interest method. Fees paid on
the establishment of loan facilities are recognised as
transaction costs of the loan to the extent that it is
probable that some or all of the facility will be drawn
down. In this case, the fee is deferred until the drawÂ¬
down occurs. To the extent there is no evidence that
it is probable that some or all of the facility will be
drawn down, the fee is capitalised as a prepayment
for liquidity services and amortized over the period
of the facility to which it relates.

Borrowings are removed from the balance sheet
when the obligation specified in the contract is
discharged, cancelled or expired. The difference
between the carrying amount of a financial liability
that has been extinguished or transferred to another
party and the consideration paid, including any nonÂ¬
cash assets transferred or liabilities assumed, is
recognised in profit or loss as other gains/(losses).

Borrowings are classified as current liabilities unless
the company has an unconditional right to defer
settlement of the liability for at least 12 months after
the reporting period. Where there is a breach of a
material provision of a long-term loan arrangement
on or before the end of the reporting period with
the effect that the liability becomes payable on
demand on the reporting date, the entity does not
classify the liability as current, if the lender agreed,
after the reporting period and before the approval
of the financial statements for issue, not to demand
payment as a consequence of the breach.

Borrowing costs that are directly attributable to
the acquisition or construction of qualifying assets
are capitalised as part of the cost of such assets.
A qualifying asset is one that necessarily takes
substantial period of time to get ready for its intended
use. Other borrowing costs are charged to the
Statement of Profit and Loss in the period in which
they are incurred.

y) Segment Reporting

Operating segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker.

z) Rounding off amounts

All amounts disclosed in the financial statement
and notes to accounts have been rounded off to
the nearest thousands as per the requirement of
Schedule III, unless otherwise stated.

3 Significant accounting judgements, estimates and

assumptions

The preparation of financial statements in conformity

with Ind AS requires management to make judgements,

estimates and assumptions that affect the application
of accounting policies and the reported amount of
assets, liabilities, income, expenses and disclosures
of contingent assets and liabilities at the date of these
financial statements and the reported amount of revenues
and expenses for the years presented. Actual results
may differ from the estimates. Estimates and underlying
assumptions are reviewed at each balance sheet date.
Revisions to accounting estimates are recognized
in the period in which the estimates are revised and
future periods affected. In particular, information about
significant areas of estimation uncertainty and critical
judgements in applying accounting policies that have the
most significant effect on the amounts recognized in the
financial statements includes:

â¢ Measurement of defined benefit obligations (DBO)-
refer note 29

â¢ Estimation of useful lives of property, plant and
equipment and intangible assets

â¢ Estimated fair value of investments in unlisted nonÂ¬
convertible debentures

â¢ Evaluation of indicators for impairment of nonÂ¬
current investments

â¢ Determination of lease term

â¢ Allowance for expected credit loss on trade
receivables- refer note 36.1

â¢ Measurement of share-based payments - refer note 38

â¢ Estimation of current tax expense, current tax
payable and uncertain tax position - refer note 28

â¢ Capitalization of internally developed intangible
assets- refer note 46

2.4 Recent Accounting Pronouncements

Ministry of Corporate Affairs (âMCAâ) notifies new
standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as
issued from time to time. For the year ended March 31,
2025, MCA has notified Ind AS - 117 Insurance Contracts
and amendments to Ind AS 116 - Leases, relating to sale
and leaseback transactions, applicable to the Company
w.e.f. April 1, 2024. The Company has reviewed the
new pronouncements and based on its evaluation has
determined that it does not have any significant impact on
its financial statements.

Note:

(a) During the year ended March 31, 2025, the Company made an acquisition of the entire stake in Quintype Technologies
India Limited (âQTIL''), which was held by â360 One Seed Ventures Fund - Series 2'' (formerly IIFL Seed Ventures Fund -
Series 2) for a consideration of Rs. 254,287 thousands on July 30, 2024.

On October 17, 2024, the stake held by Quintillion Media Limited, (a wholly owned subsidiary of Quint Digital Limited,
which got merged with Quint Digital Limited pursuant to Scheme of arrangement as mentioned in Note 49), and Quint
Digital Limited in QTIL was transferred to GMT Inc. for an aggregate consideration of Rs. 715,793 thousands. Consequently,
QTIL became a subsidiary of GMT Inc, USA.

(b) During the year ended March 31, 2025, the Company acquired Common Stocks of Global Media Technologies Inc (âGMT,
Inc''), a wholly owned subsidiary of the Company, having a par value of $0.10 per share, as mentioned below:Â¬
- On April 05, 2024 : 23,000,000 fully paid shares of Common Stock for Rs. 193,430 thousands ($2,300,000)

- On October 15, 2024: 90,500,000 fully paid shares of Common Stock for Rs. 762,010 thousands ($9,050,000); and

- On November 05, 2024: 55,545,000 fully paid shares of Common Stock for Rs. 468,189 thousands ($5,554,500)

(c) During the year ended March 31, 2025, the Board of Directors of the Company in their meeting held on February 07,
2025, approved to make investment up to Rs. 21,263 thousands to acquire 34,451 equity shares (i.e. 77.5% stake),
on fully diluted basis, in Shvaas Creations Private Limited (âShvaasâ). Accordingly, as per phased investment plan in
accordance with share subscription and shareholder''s agreement, the Company has invested Rs. 11,704 thousands in
Shvaas on February 07, 2025. Consequently, Shvaas became a subsidiary of the Company. The remaining investment
would be made in due course in accordance with share subscription and shareholder''s agreement.

(d) The Company has a remaining capital commitment of Rs. 9,660 thousands (Previous year: Rs. 9,660 thousands) towards
investment in Spunklane Media Private Limited under the Share Subscription and Shareholders'' Agreement dated
January 21, 2023. The balance amount is to be remitted within 30 months from the agreement date.

(e) During the year ended March 31, 2025, two external investors have infused equity share capital into âSpunklane Media
Private Limited'', an associate of the Company. Consequently, the Company''s shareholding in the said associate company
has decreased from 47.92% to 44.71%.

*Mutual funds and debentures are pledged with bank and non banking financial companies (NBFC) for credit and general
corporate facility amounting to Rs. 1,658,365 thousands and Rs. 1,913,520 thousands as at March 31, 2025 and March 31, 2024
respectively.

$Mutual funds are partly pledged with bank and non banking financial companies (NBFC) for credit and general corporate
facility amounting to Rs. 116,017 thousands and Rs. 131,438 thousands as at March 31, 2025 and March 31, 2024 respectively

#Mutual funds are partly pledged with bank and non banking financial companies (NBFC) for credit and general corporate
facility amounting to Rs. 218,763 thousands and Rs. 129,363 thousands as at March 31, 2025 and March 31, 2024 respectively

b Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having the par value of Rs. 10 per share. Each holder of equity share
is entitled to one vote per share. All shareholders are equally entitled to dividends. The Company will declare and pay
dividend in Indian Rupees, if any. In the event of liquidation of the Company, the holders of the equity shares will be
entitled to receive remaining assets of the Company, after payment of all liabilities. The distribution will be in proportion
to the number of equity shares held by the shareholders. The dividend, if any, proposed by the Board of Directors will be
subject to the approval of the shareholders in the ensuing annual general meeting.

e Share options granted under the Companyâs employee share option plan:

The Company has reserved issuance of 4,91,500 (previous year: 8,61,800) equity shares of Rs. 10 each for offering to
eligible employees in the employment of the Company under Employees Stock Option Scheme (ESOS). Refer note no
38 for disclosures on share based payments.

f Aggregate number of bonus shares issued, shares issued for consideration other than cash during the period of five
years immediately preceding the reporting date:

During the year ended March 31, 2021, the Company had capitalized the securities premium as at December 31,
2020, and issued 10,975,404 equity shares of Rs. 10 each as fully paid-up bonus shares in the ratio of 1:1. Other
than this, no shares have been issued for consideration other than cash or as bonus shares during the year ended
March 31, 2025 and the five years immediately preceding it. Further, no shares have been bought back during the
said period.

Notes:

(i) Business investment facility up to Rs. 350,000 thousands (previous year: Rs. Nil ) from ICICI Bank Ltd carrying an interest
at 8.50% p.a. (previous year: Rs. Nil) and is repayable in eight monthly equal installment starting from September 30,
2024. The outstanding balance as on March 31, 2025 is Rs. 217,990 thousands (previous year: Rs. Nil ). The facility is
secured by hypothecation of bonds and debt mutual funds. The loan have been personally guaranteed by Raghav Bahl
(Director).

(ii) Business investment facility up to Rs. 200,000 thousands (previous year: Rs. Nil ) from ICICI Bank Ltd carrying an interest
at 8.50% p.a. (previous year: Nil) and is repayable in eight monthly equal installment starting from June 30, 2025. The
outstanding balance as on March 31, 2025 is Rs. 200,000 thousands (previous year: Rs. Nil). The facility is secured by
hypothecation of bonds and debt mutual funds.The loan have been personally guaranteed by Raghav Bahl (Director).

(iii) General corporate purpose facility up to Rs. 240,000 thousands (previous year: Rs. 240,000 thousands) from 360 One
Prime Limited carrying an interest at 10.75% p.a. (previous year: 10.75% p.a.) and is repayable at the end of tenure of
the said facility. The outstanding balance as on March 31, 2025 is Rs. 40,000 thousands (previous year: Rs. 129,339
thousands). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have
been personally guaranteed by Raghav Bahl (Director) .

(iv) Business investment and working capital facility up to Rs. 490,000 thousands (previous year: Rs. 500,000 thousands)
from Credit Suisse Finance India Private Ltd carrying an interest at 9.50% p.a. (previous year: 9% - 9.50% p.a.) and is
repayable at the end of 36 months from facility schedule executed on April 28, 2023. The outstanding balance as on
March 31, 2025 is Rs. 212,859 thousands (previous year: Rs. 389,075 thousands). The facility is secured by hypothecation
of bonds and debt mutual funds held by Company. The loan have been personally guaranteed by Raghav Bahl (Director)
and Ritu Kapur (Managing Director).

(i) Secured loan of up to Rs. 50,000 thousands (previous year: Rs. 20,000 thousands) from Barclays Bank PLC carrying
an interest rate at 8.50% p.a. (previous year: 8.50%) has been sanctioned. This is repayable subject to maximum
period of 12 months from disbursement. The outstanding balance as on March 31, 2025 is Rs. 20,000 thousands
(previous year: Rs. 20,000 thousands). The facility is secured by hypothecation of debt mutual funds held by
Company.

(ii) Working Capital facility of up to Rs. 14,250 thousands (previous year: Rs. 356,250 thousands) from Kotak Mahindra
Bank carries an interest at 7.90% - 8.20% p.a. (previous year 7.90% - 8.20% p.a.) has been sanctioned. The outstanding
balance as on March 31, 2025 is Rs. 1,024 thousands (previous year: Rs. 337,166 thousands). The facilities are
secured by a charge over fixed deposits of Rs. 15,507 thousands (previous year: Rs. 375,000 thousands).

(iii) Working Capital facility of up to Rs. 50,000 thousands (previous year: Rs. 50,000 thousands) from HDFC Bank
carries an interest at 8.30% p.a. (previous year 8.30%) has been sanctioned. The outstanding balance as on March
31, 2025 is Rs. 47,333 thousands (previous year: Rs. 878 thousands). The facilities are secured by a charge over
fixed deposits of Rs. 56,638 thousands (previous year: Rs. 55,000 thousands).

(iv) Cash credit facility upto Rs. 100,000 thousands (previous year: Rs. 100,000 thousands) from Kotak Mahindra Bank
carries an Interest rate 8.50% p.a. (previous year: 8.50% p.a.). The outstanding balance as on march 31, 2025 of Rs.
Nil (previous year: Rs. 43,264 thousands). The facility is secured by a charge over Mutual fund.

(v) Business investment and working capital facility up to Rs. 1,500,000 thousands (previous year: Rs. 1,000,000
thousands) from Barclays Investment and Loans India Private Limited carrying an interest at 9.10% - 9.55% p.a.
(previous year: 8.80% - 9.35%) has been sanctioned . This is repayable subject to maximum period of 12 months
from the date of disbursement. The outstanding balance as on March 31, 2025 is Rs. 787,000 thousands (previous
year: Rs. 998,241 thousands). The facility is secured by hypothecation of bonds and debt mutual funds held by
Company.

(vi) Business investment and working capital facility up to Rs. 500,000 thousands (previous year: Rs. 500,000
thousands) from Deutsche Investments India Private Limited carrying an interest at 9.15% - 9.27% p.a. (previous year:
8.25% - 9.15% p.a. ) has been sanctioned. This is repayable subject to maximum period of 12 months from the date
of disbursement. The outstanding balance as on March 31, 2025 is Rs. Nil (previous year: Rs. 112,500 thousands).
The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have been
personally guaranteed by Raghav Bahl (Director).

(vii) The borrowings up to Rs. 6,000,000 thousands subject to available borrowing limit with company under section
180(1)(c) (previous year: Rs. 6,000,000 thousands) for the purpose of business investment and working capital
requirement from RB Diversified Private Limited, a related party has been sanctioned. carrying an interest at 11.25%
p.a. (previous year: 11.25% p.a.). This is repayable in 12 months from the date of disbursement. The outstanding
balance as at March 31, 2025 is Nil (previous year: Rs. 150,000 thousands). The facility is unsecured. Also refer note
29 and 48.

(viii) The Company is not required to submit any financials information to the banks as per sanction letter entered into
with respective banks/financial institutions.

Notes:

(a) Expenses relating to merger: For the Scheme of arrangement as given in Note 49, the Company has incurred certain
expenses of Rs. 8,025 thousands (Previous year: Rs. 1,575 thousands) in pursuance of above mentioned Scheme during
the year ended March 31, 2025. These expenses are disclosed as an exceptional item during the current year.

(b) Impairment of capitalised video cost: On June 15, 2024, the Company had decided to restructure its business model
wherein the Company will focus on enterprise articles/features/videos, written/produced by high-caliber journalists/
experts. This original, high-quality content will be used to drive subscriptions and pay revenues, which are expected
to build up into a new revenue source, along with the existing operations in branded content and ad sales. Pursuant to
said restructuring, the Company has decided to be available only in English across multiple platforms. Accordingly, the
âQuint Hindiâ website was discontinued with effect from February 05, 2025, and Quint YouTube channel of Quint Hindi
(i.e., âQuint Hindi''), was sold on February 07, 2025

Further, owing to the aforesaid restructuring of the business model and the continuous fall in viewership, management
re-assessed the âvalue in use'' of capitalized content development cost. Accordingly, the management decided to impair
the capitalized cost amounting to Rs. 115,469 thousands and the same is disclosed as exceptional items in the standalone
financial statement for the year ended March 31, 2025.

(c) Reversal of provision of diminution in the value of investment in an erstwhile subsidiary: Quintillion Media Limited
(now merged with its holding company Quint Digital Limited) entered into a Share Purchase Agreement on November 1,
2023, and in terms of the agreement it has completed the divestment of the remaining 51% stake in Quintillion Business
Media Limited (âQBMâ) to AMG Media Networks Limited (âAMG Mediaâ). On account of the consummation of the share
sale transaction, QBM ceased to be a step-down subsidiary of the Company w.e.f December 8, 2023.

51% stake was sold for a consideration of Rs. 5,24,510 thousands. This transaction has resulted in profit of Rs. 1,21,774 thousands
to the Company and a write back of provision for diminunition in investment of Rs. 1,91,469 thousands (shown as exceptional
gain) in its profit and loss account. In terms of the agreement, out of total sale consideration, the Company has received Rs.
3,311 thousands in its bank, Rs. 753 thousands had been retained by the purchaser AMG Media against the outstanding
debtors to be recovered and Rs. 520,000 thousands had been booked as a loan to AMG Media at an interest rate of 8%.

(d) During the year ended March 31, 2025 and March 31, 2024, the board of directors of the Company issued a letter
of support to board of directors of Quintype Technologies India Limited.

(e) The Company uses rent free premises as its registered address provided by a director (Mr. Mohan Lal Jain) during
current year and previous year.

(f) The directors of the Company i.e. Raghav Bahl (Director) and Ritu Kapur (Managing Director) have given personal
guarantee for certain borrowings taken by the Company (Refer note 14)

(g) Commitments to related party has been disclosed in note no. 41 (b).

- The carrying amount of loans, trade receivables, cash and cash equivalents, other financial assets, borrowings, lease
liabilities, trade payables and other current financial liabilities approximate the fair value due to their short-term nature.

- Borrowings, taken by the Company are as per the Company''s credit and liquidity risk assessment and there is no
comparable instrument having the similar terms and conditions with related security being pledged and hence the
carrying value of the borrowings represents the best estimate of fair value.

- The fair value of investment in mutual funds and non convertible debentures are measured either at quoted price or fair
value at the reporting date.

36.1 Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial asset fails to meet its
contractual obligations. The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each
financial asset. The management also considers the factors that may influence the credit risk of its customer base, including
the default risk etc. The carrying amounts of financial assets represent the maximum credit risk exposure.

A default on a financial asset is when the counterparty fails to make contractual payments as per agreed terms. This definition
of default is determined by considering the business environment in which entity operates and other macro-economic factor.

The Company monitors its exposure to credit risk on an ongoing basis.

The Company closely monitors the credit-worthiness of the receivables through internal systems that are configured to define
credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company uses a simplified approach
(lifetime expected credit loss model) for the purpose of computation of expected credit loss for trade receivables.

The credit risk in loans to related parties and other financial assets is low and therefore no allowance has been recognized.
The loss allowances for financial assets are based on assumption about risk of default and expected loss rates. The company
uses judgement in making these assumptions and selecting the impact to the impairment calculation.

36.2 Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to
ensure, that it will have sufficient liquidity to meet its liabilities when they are due.

Management monitors the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows.
The Company takes into account the liquidity of the market in which the entity operates.

#Impact on the statement of profit and loss and equity on account of exchange rate increase by 1% Rs. 0.05 thousands
(previous year: Rs. 0.37 thousands) and exchange rate decrease by 1% Rs. (0.05 thousands) (previous year: Rs. (0.37
thousands)).

37 Capital management

(a) Risk management

The Company''s objectives when managing capital are:

- To ensure Company''s ability to continue as a going concern, and

- To maintain optimum capital structure and to reduce cost of capital

Management assesses the capital requirements in order to maintain an efficient overall financing structure. The Company
manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets. The Company is not subject to externally imposed capital requirements. The
Company manages its capital requirements by overseeing the gearing ratio:

Loan Covenants

Under the terms of the major borrowing facilities, the Company does not have to comply with any financial
covenants.

(b) Dividends

All shareholders are equally entitled to dividends. This reserve is available for distribution to shareholders in accordance
with provisions of Companies Act, 2013. The Company has not declared or paid any dividend during the year ended
March 31, 2025 and previous year ended March 31, 2024.

:8 Share based payments

(a) Employee Option Plan

The Company, vide the resolution passed at the meeting of Nomination and Remuneration Committee (âNRCâ), dated
January 29,2021, approved âQDML ESOP Plan 2020'' for granting employee stock options in the form of equity shares,
linked to the completion of a minimum period of continued employment, to the eligible employees of the Company. The
Members of the Company have approved the Scheme through postal ballot on January 16, 2021. The eligible employees,
for the purpose of this scheme are determined by the NRC. Each stock option entitles the eligible employee to avail one
share at the end of the vesting period.

The vested options can be exercised between a period from the vesting date to a period not later than 8 (Eight) years
from the date of Grant of Options.

(b) Fair value of option granted

The following principal assumptions were used in the valuation:

- The expected option life and average expected period to exercise, is assumed to be equal to the contractual
maturity of the option.

- The risk-free rate is the rate associated with a risk-free security with the same maturity as the option.

- Volatility is concluded based on the historical volatility of guideline company wide volatility in stock returns. The
length of time considered is matched to the duration of the tranche of the option.

39 Leases

The Company''s lease asset class primarily consists of leases for buildings and plant and machinery. The rental contracts are
typically made for fixed period of 2 to 5 years. With the exception of leases of low-value and cancellable long-term leases,
each lease is reflected on the balance sheet as a right of use asset and a lease liability. These lease contracts do not contain
any variable payment terms.

Lease liabilities are measured at the present value of the remaining lease payments, discounted using the incremental
borrowing rate on the date of adoption, i.e., 8.18-9.00%.

Notes:

(i) In the previous financial year, the Goods and Services Tax (GST) authority issued a demand order amounting to Rs.
7,647 thousands against Quintillion Media Limited (now merged with Quint Digital Limited) on account of excess
claim of input tax credit. The Company contested this demand by filing an appeal with the Additional Commissioner
of GST (Appeals) and deposited Rs. 544 thousands under protest. In the current financial year, the case has been
resolved without the imposition of any monetary liability and amount deposited with the authority in previous year
is received back during the year.

(ii) Company has received a demand amounting to Rs 1,136 thousands (Previous year: Rs 658 thousands) from its vendor.
The Company has raised a dispute on account of non- performance of the obligation as per the arrangement entered
with the vendor. The Company strongly believes that no payment will be required to be made on the basis of non
performance of agreed parameters.

(iii) During the previous year, the Company has received a claim from its existing shareholder amounting to Rs 1,900
thousands on account of non-issue of right issue share. During the current year, the Company and the said shareholder
went for conciliation wherein the said shareholder agreed to settle the claim in Rs. 96 thousands as compensation.

In relation to all of the above matters, the Management believes that the outcome of the contingencies will be
favourable and outflow of economics resources is not likely. Accordingly, no provision has been recorded in the
financial statements and the same is disclosed as contingent liability.

42 Event occurring after the reporting period

(i) The Board of Directors in its meeting held on April 30, 2025 has approved the proposal for listing the equity shares
of the Company on National Stock Exchange (NSE). The listing is subject to necessary approvals from shareholders,
regulators, and the respective stock exchange. This proposed listing does not have any impact on the standalone
financial results for the quarter and year ended March 31, 2025.

(ii) On completion of vesting period for Stock Options granted pursuant to the QDL ESOP Plan, the Company has received
application from covered employees for allotment of equity shares. The Board of Directors vide a resolution passed by
way of circulation dated 04 April, 2025, approved the allotment of 25,500 equity shares of the Company at the issue
price of Rs. 14.90 having face value of Rs. 10 at issue price.

The matter does not have any impact on the financial Statements for year ended 31 March, 2025.

(iii) The Board of Directors in its meeting held on April 30, 2025 approved raising capital by way of issuance of equity
shares and/or equity linked securities by way of Qualified Institutions Placement (âQIPâ) for an aggregate amount not
exceeding Rs. 2,500,000 thousands (Rupees Two Hundred and Fifty Crore only), subject to the approval of members
of the Company and regulatory compliance, if any. This matter does not have any impact on the standalone financial
statement for year ended March 31, 2025.

43 During the current financial year 2024-2025, the Company has realized significant income from financial assets
(including investments) due to which the income from financial assets of the Company is more than 50 percent of the
gross income for the current year and the Company''s financial assets are more than 50 percent of the total assets as
at March 31, 2025.

The significant increase in investment income as compared to core operational income is one-off activity in the
financial year 2024-2025 and not expected to recur in the ensuing financial years. Considering the management
forecasts for financial year 2025-2026 onwards, the management anticipates that the operational income would
exceed more than 50 percent of the gross income for financial year 2025-2026 onwards, and accordingly this has
been considered as an one-off scenario as at March 31, 2025, and not reflective of the Company''s core operations or
long-term business model.â

44 Segment information

(a) Reportable Segment

In line with provisions of Ind AS 108-Operating segments, the Company is engaged in media operations for its customers
in India and overseas which constitute single reportable business segment as reviewed by the Chief Operating Decision
Maker (CODM).

*The amount of Rs. 385 thousands (Previous year: Rs. 1,153 thousands) has been paid to Sarthak Education Trust registered
under 12A of Income Tax Act 1961 for educational purpose (Digital Literacy Program with Person with Disabilities) during the
year ended March 31, 2025.

*The amount of Rs. 500 thousands (Previous year: Rs. Nil) has been paid to Shanti Narayan Memorial Trust registered under
12A of Income Tax Act 1961 for Infrastructure Development Support for running a school- Gyan Shakti Vidyalaya during the
year ended March 31, 2025.

46 Capitalisation of Video cost

âDuring the previous year, the Company created different kinds of content videos in covering multiple genres like
documentaries, entertainment, sports, lifestyle, news etc. for its viewers. These videos are viewed over different platforms
like YouTube, Facebook, its own website and through its channel partners.

In accordance with Ind AS 38 âââIntangible Assetsââ, the videos created met the definition of an asset as:

- The Videos are controlled by the Company as it retains the Intellectual Property Rights of these videos and it decides the
platforms on which these will be posted for public viewership.

- It has the rights to remove these videos from these platforms as per its discretion.

- The economic benefits flow only to the Company, which are either direct economic benefit i.e. Partner/Programmatic
revenue which is generated by monetization of these videos on various platforms based on viewership or Direct Selling
of display advertisement revenue, which is generated for placement of various advertisements on Quint''s website or
other platforms. Both of the revenues are related to content videos as these videos generate viewership.

The cost of video include direct expenses such as video crew, production costs, editing, visual effects and production
overhead costs such as studio rent etc. It also includes on proportionate basis production-related administrative costs, if
directly attributable and costs of employee benefits i.e. cost of Creative Team or production team working directly on creation
of these videos.

The video cost had been assumed to have a life of 4 years and is to be amortized from the date of its publishing, 60% of the
cost capitalized in the first year of video being published , 20% in the second year and 10% each in next 2 years. If a video,
in later year, is found to be not generating any economic benefit it could be decided by the management to be written off
completely in that year itself.

During the current year, due to the continuous fall in viewership the Company restructuring of the business model and,
management re-assessed the âvalue in use'' of capitalized content development cost. Accordingly, the management decided
to impair the capitalized cost amounting to Rs. 115,469 thousands as mentioned in note 27 (b)

47 Rights issue

(a) In the FY 2022-23, pursuant to the basis of allotment for the Rights Issue approved by the BSE Limited, the Board
of Directors in their meeting held on January 31, 2023, allotted 2,50,00,000 fully paid-up equity shares of the
Company, having face value of Rs. 10 (Indian Rupee Ten) each in dematerialized form at an issue price of Rs. 50
(Indian Rupees Fifty Only) per equity share.

Pursuant to the above allotment, the Issued and Paid-up Equity Share Capital of the Company increased from existing
Issued, Paid-up, Admitted and Listed Equity Share Capital of the Company of Rs. 2,19,698 thousands divided into
2,19,69,808 Equity Shares of Rs. 10 each to Rs. 469,698 thousands divided into 4,69,69,808 Equity Shares of Rs. 10 each.

The Company has incurred an expense of Rs. 14,828 thousands for the purpose of rights issue which has been
netted off from security premium during the year ended March 31 2023.

Of the unutilized right issue proceeds, there is no balance lying in Monitoring Agency Account as at March 31, 2024. The
unutilized right issue proceeds have been kept in fixed deposits and current account maintained with Kotak Mahindra Bank.

**As per monitoring agency report.

18 Other statutory information

(a) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in accordance with
the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year ended March 31, 2025 and
March 31, 2024.

(b) No proceedings have been initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules made thereunder, as at March 31, 2025 and March 31, 2024.

(c) The Company has not traded or invested in crypto currency or virtual currency during the year ended March 31, 2025
and March 31, 2024.

(d) There is no immovable property whose title deed is not held in the name of the company during the year ended March
31, 2025 and March 31, 2024.

(e) There have been no transactions which have not been recorded in the books of account, that have been surrendered
or disclosed as income during the year ended March 31, 2025 and March 31, 2024, in the tax assessments under the
Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly
recorded in the books of account during the year ended March 31, 2025 and March 31, 2024.

(f) The Company does not have any transactions with the Companies struck off under section 248 of Companies Act, 2013
or section 560 of Companies Act, 1956 during the year ended March 31, 2025 and March 31, 2024.

(g) 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 :

(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.

(h) 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.

(i) The Company has entered into scheme of arrangement (refer note: 49) which has an accounting impact on current or
previous financial year.

(j) The Company does not own any immovable property (including investment properties) other than properties where the
company is the lessee and the lease agreement are duly executed in favor of the lessee during the year ended March
31, 2025 and March 31, 2024.

49 Scheme of Merger

a The Board of Directors of the Company, at its meeting on August 14, 2023, has considered and approved the Scheme
of Arrangement amongst the Quint Digital Limited (Transferee Company/QDL) and Quintillion Media Limited, a wholly
owned subsidiary (Transferor Company/QML) and their respective shareholders and creditors pursuant to the provisions
of sections 230 to 232, Section 66 and other applicable provisions of the Companies Act, 2013. This Scheme seeks
to undertake an (a), Amalgamation (merger by way of absorption) of QML, on a going concern basis, with that of
QDL, being 100% holding company of QML; and (b) Reduction of capital of QDL in the manner set out in this Scheme.
The scheme was approved by Hon''ble National Company Law Tribunal, New Delhi Bench-II on March 10, 2025 and
became effective on March 28, 2025 upon completion of all the formalities. Consequent to the amalgamation prescribed
by the Scheme, all the assets and liabilities of the specified business were transferred to and vested in the Company with
effect from April 01, 2023 (âthe Appointed Dateâ).

The amalgamation was accounted under the âpooling of interestâ method prescribed under Ind AS 103 - Business
Combinations. As prescribed by the Scheme no consideration was paid as the transferor is a wholly owned subsidiary
of the Company.

54 The feature of recording audit trail (edit log) facility was not enabled at the application layer to log any direct data changes for
the software used for maintaining the books of account relating to payroll, which is operated by third party software service
provider. âIndependent auditor''s report in relation to controls at the service organisation'' (SOC 2 Type II report) from third party
software service provider were also not available to see whether the audit trail feature of payroll software at the database
level was enabled and operated throughout the year for all relevant transactions recorded in the payroll software.

55 The comparative financial figures relating to the previous year as presented in these standalone financial statements, have
been restated to give effect of the Scheme of Arrangement.

For S.N. Dhawan & CO LLP For and on behalf of the Board of Directors of

Chartered Accountants Quint Digital Limited

Firm Registration No.: 000050N/N500045

Rajeev Kumar Saxena Ritu Kapur Parshotam Dass Agarwal

Partner Managing Director and CEO Director

Membership No. 077974 DIN: 00015423 DIN: 00063017

Place: Noida Place: Noida Place: Noida

Date: April 30, 2025 Date: April 30, 2025 Date: April 30, 2025

Vivek Agarwal Tarun Belwal

Chief Financial Officer Company Secretary

Membership No.: A39190

Place: Noida Place: Noida

Date: April 30, 2025 Date: April 30, 2025

Mar 31, 2024

11.3 Aggregate number of bonus shares issued, shares issued for consideration other than cash during the period of five years immediately preceding the reporting date:

During the year ended 31 March 2021, the Company had capitalized and transferred to the Paid-up Share Capital such amount standing to the credit of the Securities Premium Account of the Company as at 31 December, 2020, for the purpose of the issue of 10,975,404 new equity shares as Bonus Shares of '' 10 (Rupees Ten only) each credited as fully paid-up, in proportion of existing equity shares held by way of issuing 1 (One) Equity Shares for every 1 (One) existing Equity Shares held. Thus total number of shares issued for consideration other than cash are Nil (previous year- Nil as bonus issues). Other than this, the Company has not issued any shares pursuant to contracts without payment being received in cash, or allotted as fully paid up by way of bonus shares during the year ended 31 March, 2024 and five years immediately preceding the year ended 31 March, 2024. There are no shares bought back during the period of five years immediately preceding the reporting date.

11.5 Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having the par value of '' 10 per share. Each holder of equity share is entitled to one vote per share. All shareholders are equally entitled to dividends. The Company will declare and pay dividend in Indian Rupees, if any. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after payment of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders. The dividend, if any, proposed by the Board of Directors will be subject to the approval of the shareholders in the ensuing annual general meeting.

#RB Diversified Private Limited has purchased 464,619 shares from open market and 6,11,420 shares were allotted as part of rights issue. For other promoters, movements in shares is due to allotment of shares in right issue. % change in Shareholding is due to number of 3,000 employee stock options allotted to employees of the Company during the year.

11.8 Share options granted under the Companyâs employee share option plan:

The Company has reserved issuance of 8,61,800 (previous year 11,49,500) equity shares of '' 10 each for offering to eligible employees in the employment of the Company under Employees Stock Option Scheme (ESOS). Refer note no 35 for disclosures on share based payments.

The Company transferred a portion of the net profit before declaring dividend to general reserve pursuant to the earlier provision of Companies Act 1956. This reserve is available for distribution to shareholders in accordance with provisions of Companies Act, 2013.

Acquisition adjustment account has been created pursuant to acquisition of âQuint businessâ of Quintillion Media Limited during the year ended 31 March, 2021 as a result of common control transaction accounted for in the standalone financial statements of the Company. This reserve is available for utilization in accordance with provisions of Companies Act, 2013.

Warrant forfeiture was created pursuant to forfeiture of warrants on account of non payment of final call money. During the year ended 31 March 2021, 7,524,596 Equity Warrants were lapsed due to non exercise by the warrant holders and the consideration amount equivalent to 25% of issue price, amounting to '' 79,949 paid by the warrant holder(s) on such Equity Warrants were forfeited by the Company. This reserve is available for utilization in accordance with provisions of Companies Act, 2013.

(i) Business investment and working capital facility up to '' 500,000 (previous year: '' Nil ) from Credit Suisse Finance India Private Ltd carrying an interest at 9% - 9.50% pa (previous year: Nil) and is repayable at the end of 36 months from facility schedule executed on 28 April 2023. The outstanding balance as on 31 March, 2023 is '' 389,075 (previous year: '' Nil ). The facility is secured by hypothecation of bonds and debt mutual funds held by subsidiary company (Quintillion Media Limited) The loan have been personally guaranteed by Raghav Bahl (Director) and Ritu Kapur (Managing Director).

(ii) General corporate purpose facility up to '' 240,000 (previous year: '' Nil ) from 360 One Prime Limited carrying an interest at 10.75% pa (previous year: Nil) and is repayable in lumpsum at the end of tenure of the facility dated 30 October 2025. The outstanding balance as on 31 March, 2024 is '' 129,339 (previous year: '' Nil). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have been personally guaranteed by Raghav Bahl (Director).

(ia) Demand loan of up to '' 20,000 (previous year: '' 125,000 ) from Barclays Bank PLC carrying an interest rate at 8.50% p.a. (previous year: 6.25% - 8.20%) has been sanctioned. This is repayable on demand subject to maximum period of 12 months from disbursement. The outstanding balance as on 31 March, 2024 is '' 20,000 (previous year: '' Nil ). The facility is secured by hypothecation of debt mutual funds held by Company.

(ib) Demand loan of up to '' 500 (previous year: '' 500 ) from Kotak Mahindra Bank carrying an interest rate at 8.60% - 8.95% p.a. (previous year: 8.60% - 8.95%) has been sanctioned. This is repayable on demand or maturity. The outstanding balance as on 31 March, 2024 is '' Nil (previous year: '' Nil ). The facility was secured by hypothecation of debt mutual funds held by Company.

(iia) Working Capital facility of up to '' 950 (previous year: '' 20,000 ) from Ratnakar Bank Limited carries an interest at 7.50% - 9.10% pa (previous year 7.50% - 9.10% pa) has been sanctioned. This is repayable on demand. The outstanding balance as on 31 March, 2024 is '' Nil (previous year: '' Nil). The facilities were secured by a charge over fixed deposit of '' 1,212 (previous year: '' 21,507).

(iib) Working Capital facility of up to '' 356,250 (previous year: '' 218,500 ) from Kotak Mahindra Bank carries an interest at 7.90% - 8.20% pa (previous year 7.90% pa) has been sanctioned. This is repayable on demand. The outstanding balance as on 31 March, 2024 is '' 337,166 (previous year: '' Nil). The facilities are secured by a charge over fixed deposits of '' 375,000 (previous year: '' 230,000).

(iic) Working Capital facility of up to '' 50,000 (previous year: '' Nil ) from HDFC Bank carries an interest at 8.30% pa (previous year Nil) has been sanctioned. This is also repayable on demand. The outstanding balance as on 31 March, 2024 is '' 878 (previous year: '' Nil). The facilities are secured by a charge over fixed deposits of '' 55,000 (previous year: '' Nil).

(iiia) Business investment and working capital facility up to '' 1,000,000 (previous year: '' 600,000 ) from Barclays Investment and Loans India Private Limited carrying an interest at 8.80% - 9.35% pa (previous year: 7.00% - 9.35%) has been sanctioned . This is repayable on demand subject to maximum period of 12 months from the date of disbursement. The outstanding balance as on 31 March, 2024 is '' 998,241 (previous year: '' 480,000 ). The facility is secured by hypothecation of bonds and debt mutual funds held by Company.

(iiib) Business investment and working capital facility up to '' 500,000 (previous year: '' Nil ) from Deutsche Investments India Private Limited carrying an interest at 8.25% - 9.15% pa (previous year: Nil) has been sanctioned. This is repayable on demand within 12 months from the date of disbursement. The outstanding balance as on 31 March, 2024 is '' 112,500 (previous year: '' Nil). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have been personally guaranteed by Raghav Bahl (Director).

(iv) The borrowings up to '' 6,000,000 (previous year: '' Nil ) for the purpose of business investment and working capital requirement from RB Diversified Private Limited, a related party has been sanctioned. During the year ended 31 March 2024, amount of Rs 150,000, carrying an interest at 11.25% pa (previous year: Nil) has been disbursed. This is repayable in 12 months from the date of disbursement. The outstanding balance as at 31 March, 2024 is '' 150,000 (previous year: '' Nil ). The facility is unsecured. Also refer note 29 and 47.

(v) The Company is not required to submit any financials information to the banks as per sanction letter entered into with respective banks/financial institutions.

27 Earnings per share (EPS)

Earnings per share (âEPS'') is determined based on the net profit attributable to the shareholders. Basic earnings per share is computed using the weighted average number of shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year, except where the result would be anti-dilutive.

The Company also has certain defined contributions plans. Contributions are made to provident fund in India for employees at the rate of 12% of basic salary as per regulations. Contributions are made to registered provident fund administered by the government. The obligation of the Company is limited to the amount contributed and it has no further contractual or constructive obligation.

28.2 Compensated absences

The leave obligations cover the Company''s liability for earned leave which are classified as other long-term benefits. The Company has unconditional right to defer settlement for any of these obligations and therefore the amount of provision of '' 6,088 (previous year '' 6,363) is presented as current and non-current based on the actuarial valuation.

The employees of the Company are entitled to compensated absences. The employees can carry forward a portion of the unutilized accrued compensated absences and utilize it in future periods or receive cash compensation at retirement or termination of employment for the utilized compensated absences.

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service. The gratuity plan is funded and the shortfall between plan assets and defined benefit obligation as determined by an independent actuarial as at year end is recognized in the statement of the profit and loss.

The Company has invested during the year ended 31 March, 2022 in gratuity funds which is administered through Life Insurance Corporation of India. The detail of investment maintained by Life Insurance Corporation are not made available to the Company as it is a traditional plan and have therefore not been disclosed.

Sensitivities due to mortality and withdrawals are not material. Hence impact of change is not calculated above.

Sensitivities as to rate of inflation, rate of increase of pensions in payment, rate of increase of pensions before retirement and life expectancy are not applicable being a lump sum benefit on retirement.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of defined benefit obligation to significant actuarial assumptions the same method (present value of defined benefit obligations calculated with the projected unit credit method at the end of the reporting period ) has been applied as when calculating the defined benefit liability recognized in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

XII The average duration of the defined benefit plan obligation at the end of the reporting period is 3.23 year (previous year: 2.79 years)

XIII The estimates of rate of escalation in salary considered in actuarial valuation are after taking into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is as certified by the Actuary. The sensitivity analysis above have been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.

29 Related party disclosures, as per Ind AS 24

In accordance with the requirement of Indian Accounting Standard (Ind AS) 24 âRelated Party Disclosuresâ, name of the related parties, related party relationships, transactions and outstanding balances including commitments where control exist and with whom transactions have taken place during the reported year are as follows:

29.1 List of related parties29.1.1 Key management personnel (KMP)

(i) Ritu Kapur - Managing Director and Chief Executive Officer

(ii) Raghav Bahl - Director

(iii) Vivek Agarwal- Chief Financial Officer

(iv) Tarun Belwal- Company Secretary

(v) Mohan Lal Jain - Director

(vi) Vandana Malik - Director

(vii) Sanjeev Krishna Sharma - Director

(viii) Parshotam Dass Agarwal - Director

(ix) Abha Kapoor - Director

29.1.2 Subsidiary Companies

(i) Quintillion Media Limited (formerly known as Quintillion Media Private Limited)

(ii) Quintillion Business Media Limited (formerly known as Quintillion Business Media Private Limited) (up to 07 December, 2023)

(iii) Quintype Technologies India Limited (formerly known as Quintype Technologies India Private Limited)

(iv) Global Media Technologies Inc. (Wholly owned subsidiary of the company with effect from 21 February, 2024)

29.1.3 Associate Companies

(i) Spunklane Media Private Limited

(ii) YKA Media Private Limited

29.1.4 Entities over which key management personnel are able to exercise significant influence and with whom transactions have taken place during the year

(i) RB Diversified Private Limited

(a) All the transactions were made on normal commercial terms and conditions and at market rates.

(b) No non cash transactions entered with Promoters during the year.

(d) During the year ended 31 March, 2024 and 31 March, 2023, the board of directors of the Company issued a letter of support to board of directors of Quintype Technologies India Limited.

(e) The Company uses rent free premises as its registered address provided by a director (Mr. Mohan Lal Jain) during current year and previous year.

(f) The directors of the company i.e. Raghav Bahl (Director) and Ritu Kapur (Managing Director) have given personal guarantee for borrowings taken by the company (Refer note 13A and 13B)

(g) Commitments to related party has been disclosed in note no. 39 (b).

(h) The Company has taken business investment and working capital facility from Credit Suisse Finance India Private Ltd which is secured by hypothecation of bonds and debt mutual funds held by subsidiary company (Quintillion Media Limited) (Refer note 13A).

32 Fair value measurement32.1 Valuation techniques used to determine fair value

The fair value of the financial assets and liabilities is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods were used to estimate the fair values:- Investments, trade receivables, cash and cash equivalents, loans, other financial assets, borrowings, trade payables and other current financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

- Borrowings, taken by the Company are as per the Company''s credit and liquidity risk assessment and there is no comparable instrument having the similar terms and conditions with related security being pledged and hence the carrying value of the borrowings represents the best estimate of fair value.

- The fair value of investment in mutual funds and non convertible debentures are measured either at quoted price or fait value at the reporting date.

The Chief financial Officer (CFO) is responsible for performing the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values, through involvement of external experts , as may be considered necessary . The discussions and results are held between the CFO and the Audit Committee at least once every three months, in line with the Company''s quarterly reporting periods.

32.3 Fair value hierarchy

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial investments into the three levels prescribed under the Indian Accounting Standard 113 âFair Value Measurementâ. An explanation of each level follows underneath.

There are no transfer between levels during the year.

Level 1: It includes financial instruments measured using quoted prices in active markets for identical assets or liabilities.

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs other than Level 1 inputs;

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

33 Financial risk management Risk management

âThe Company''s activities expose it to liquidity risk, credit risk and market risk. The Company''s board of directors has overall responsibility for the establishment and oversight of the Company''s risk management framework. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

33.1 Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial asset fails to meet its contractual obligations. The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each financial asset. The management also considers the factors that may influence the credit risk of its customer base, including the default risk etc. The carrying amounts of financial assets represent the maximum credit risk exposure.

A default on a financial asset is when the counterparty fails to make contractual payments as per agreed terms. This definition of default is determined by considering the business environment in which entity operates and other macro-economic factor.

The Company monitors its exposure to credit risk on an ongoing basis.

The Company closely monitors the credit-worthiness of the receivables through internal systems that are configured to define credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company uses a simplified approach (lifetime expected credit loss model) for the purpose of computation of expected credit loss for trade receivables.

The credit risk in loans to related parties, contract asset (unbilled revenue) and other financial assets is low and therefore no allowance has been recognized. The loss allowances for financial assets are based on assumption about risk of default and expected loss rates. The company uses judgement in making these assumptions and selecting the impact to the impairment calculation.

33.2 Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, that it will have sufficient liquidity to meet its liabilities when they are due.

Management monitors the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity operates.

(i) Maturities of financial liabilities

The table below provides details regarding the contractual maturities of significant financial liabilities:

The bank overdraft facilities may be drawn at any time and may be terminated by the bank without notice. Subject to the continuance of satisfactory credit ratings, the bank loan facilities may be drawn at any time in INR and are repayable on demand.

33.3 Market risk(i) Foreign exchange risk

The Company has international transactions and is exposed to foreign exchange risk arising from foreign currency transactions (imports and exports). Foreign exchange risk arises from future commercial transactions and recognized assets and liabilities denominated in a currency that is not the Company''s functional currency. The Company has not hedged its foreign exchange receivables and payables as at 31 March, 2024

34 Capital management(a) Risk management

The Company''s objectives when managing capital are:

- To ensure Company''s ability to continue as a going concern, and

- To maintain optimum capital structure and to reduce cost of capital

Management assesses the capital requirements in order to maintain an efficient overall financing structure. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. The Company is not subject to externally imposed capital requirements. The Company manages its capital requirements by overseeing the gearing ratio:

(b) Dividends

All shareholders are equally entitled to dividends. This reserve is available for distribution to shareholders in accordance with provisions of Companies Act, 2013. The Company has not declared or paid any dividend during the year ended 31 March 2024.

35 Share based payments(a) Employee Option Plan

The Company, vide the resolution passed at the meeting of Nomination and Remuneration Committee (âNRCâ), dated 29 January,2021, approved âQDML ESOP Plan 2020'' for granting employee stock options in the form of equity shares, linked to the completion of a minimum period of continued employment, to the eligible employees of the Company. The Members of the Company have approved the Scheme through postal ballot on 16 January 2021. The eligible employees, for the purpose of this scheme are determined by the NRC. Each stock option entitles the eligible employee to avail one share at the end of the vesting period.

The vested options can be exercised between a period from the vesting date to a period not later than 8 (Eight) years from the date of Grant of Options.

(b) Fair value of option granted

The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted. The fair values of options granted were determined using Black-Scholes option pricing model that takes into account factors specific to the share incentive plans along with other external inputs. Expected volatility has been determined by reference to the average volatility for comparable companies for corresponding option term. Total Company share based payment to employees amounting '' 10,037 for the year ended 31 March, 2024 ( '' 12,467 for the year ended 31 March, 2023) is recognized in the statement of profit and loss of the Company pertaining to options issued to employees of the Company. Each Option entitles the holder thereof to apply for and be allotted one Ordinary Shares of the Company upon payment of the exercise price during the exercise period. The exercise period commences from the date of vesting of the Options and expires at the end of eight years from grant date. The following principal assumptions were used in the valuation: Expected volatility was determined by comparison with peer companies, as the Company''s shares are not presently publicly traded. The expected option life and average expected period to exercise, is assumed to be equal to the contractual maturity of the option. The risk-free rate is the rate associated with a risk-free security with the same maturity as the option. At each balance sheet date, the Company reviewed its estimates of the number of options that are expected to vest. The Company recognizes the impact of the revision to original estimates, if any, in the profit or loss in consolidated statement of comprehensive income, with a corresponding adjustment to âretained earnings'' in equity. The fair value of option using Black Scholes model and the inputs used for the valuation for options that have been granted during the reporting period are summarized as follows:

36 Extention and termination options

The Company''s lease asset class primarily consists of leases for buildings and plant and machinery. The rental contracts are typically made for fixed period of 2 to 5 years. With the exception of leases of low-value and cancellable long-term leases, each lease is reflected on the balance sheet as a right of use asset and a lease liability. These lease contracts do not contain any variable payment terms

Lease liabilities are measured at the present value of the remaining lease payments, discounted using the incremental borrowing rate on the date of adoption, i.e., 8.18-9.00%.

36.5 Critical judgements in determining the lease term

In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).

As at 31 March 2024, there is no potential future cash outflows that have not been considered in lease liability as there is no reasonable uncertainty that the leases will be extended (or not terminated).

39 Contingent liabilities and capital commitments
Particulars	As at	As at
	31 March, 2024	31 March, 2023
(a) Contingent liabilities (refer note (i) and (ii))	2,558	-

Claims against the company not acknowledged as debt

(i) Company has received a demand amounting to INR 658 from its vendor. The Company has raised a dispute on account of non- performance of the obligation as per the arrangement entered with the Vendor. The Company strongly believes that no payment will be required to be made on the basis of non performance of agreed parameters.

(ii) Company has received a claim from its existing shareholder amounting to INR 1900 on account of non-issue of right issue share. The company and the said shareholder went for conciliation wherein the said shareholder agreed to settle the claim in INR 1000 as compensation. Conciliation was unsuccessful and the company strongly believes that no payment will be required to be made on the basis of grounds of rejection mentioned in offer letter of right issue.

Particulars	As at 31 March, 2024	As at 31 March, 2023
(b) Commitments	2,01,418	-

Estimated amount of contracts remaining to be executed on capital account and not provided forâ

(i) During the year ended 31 March, 2023, the company had entered into Share Subscription and Shareholders'' agreement dated 21 January, 2023 for further investment of INR 18,400 by way of subscription of 35,328 equity shares of Spunklane Media Private Limited at a price INR 520.83 per share. During the year ended 31 March, 2024, out of the total capital commitment of INR 18,400, amount of INR 8,740 was infused. The remaining amount of INR 9,660 shall be remitted not later than eighteen months from the Execution date of the aforesaid agreement i.e. 21 January, 2023. The said capital infusion has not led to any change/ dilution of Company''s shareholding in Spunklane Media Private Limited. Consequently the capital commitment in respect of this matter as at 31 March, 2024 is INR 9,660 (previous year: INR 18,400).

(ii) The Board of Directors in their meeting held on 06 February, 2024, approved to set-up wholly owned subsidiary company outside India to undertake media tech operations. Consequently, Global Media Technologies Inc. (âGMTâ) has been incorporated on 21 February, 2024, in New Castle, as a Wholly Owned Subsidiary of Quint Digital Limited, with the object of expanding the digital media-tech business of the group in US and other global markets.

The Company entered into Common Stock Purchase agreement on 21 February, 2024 with GMT, a Delaware corporation, for acquiring 1,000,000 shares of Common Stock at $0.00001, amounting to USD 10 (Rs. 0.83). Subsequently, the Board of GMT duly adopted the resolution in its meeting held on 03 April 2024 wherein it had determined in the best interests of the GMT to issue 23,000,000 shares of Common Stock , having a par value of $0.10 per share, to Quint Digital Limited, in exchange of $2,300,000 (Rs. 191,758) and consequently, restated and amended the aforesaid stock purchase agreement on 03 April, 2024. Subsequent to the aforesaid Board resolution and amendment to stock purchase agreement, the Company got the Restated and Amended Certificate of Incorporation dated 03 April, 2024 from the Secretary of State of the Delaware.

40 Exceptional Items

The Board of Directors of the Company, at its meeting on August 14, 2023, has considered and approved the Scheme of Arrangement amongst the Quint Digital Limited (Transferee Company/QDL) and Quintillion Media Limited, a wholly owned subsidiary (Transferor Company/QML) and their respective shareholders and creditors pursuant to the provisions

of sections 230 to 232, Section 66 and other applicable provisions of the Companies Act, 2013. This Scheme seeks to undertake an (a), Amalgamation (merger by way of absorption) of QML, on a going concern basis, with that of QDL, being 100% holding company of QML; and (b) Reduction of capital of QDL in the manner set out in this Scheme. The Scheme is subject to the approval from the shareholders, creditors, various regulatory authorities and subject to such conditions and modifications as may be prescribed or imposed by the National Company Law Tribunal, New Delhi or by other regulatory authorities.

The Company had availed certain certification services from consultants and paid fee to authorities amounting to Rs. 1,575 (Previous year: Nil) in pursuance of above mentioned Scheme during the year ended 31 March 2024. These expenses are disclosed as an exceptional item during the current year.

41 Event occurring after the reporting period

(i) Franchisee Agreement with Global Digital Media Limited (ââGDMLââ) which was earlier suspended as on 03 April, 2023 has been terminated effective from 01 April 2024, on account of the global macro-economic environment and recessionary economic conditions in Europe. The termination agreement state that all the rights and obligations, whether financial or otherwise existing between the Company and GDML under the Franchise Agreement stand extinguished; and no amounts are due or payable by either party to the other under the Franchise Agreement. Accordingly, the termination agreement does not have any financial implication on the financial statements for the year ended 31 March, 2024.

(ii) On completion of vesting period for Stock Options granted pursuant to the QDL ESOP Plan, the Company has received application from covered employees for allotment of equity shares. The Board of Directors vide a resolution passed by way of circulation dated 04 April, 2024, approved the allotment of 42,000 equity shares and 1,200 equity shares of the Company at the issue price of Rs. 14.90 and Rs. 66, respectively having face value of Rs. 10 at issue price. The matter does not have any impact on the financial Statements for year ended 31 March, 2024.

(iii) The Board of GMT duly adopted the resolution in its meeting held on 03 April 2024 wherein it had determined in the best interests of the GMT to issue 23,000,000 shares of Common Stock , having a par value of $0.10 per share, to Quint Digital Limited, in exchange of $2,300,000 (Rs. 191,758), which has been subsequently issued refer note 39(b).

(iv) Pursuant to the approval of the Board and Shareholders in their respective meetings held on 14 August, 2023 and 29 September, 2023, the Company had signed an agreement dated 08 March, 2024 with MK Center of Entrepreneurship Foundation for forming a Joint venture company with an aim to offer training, hold seminars, develop apps and educational programs in the in the fields of artificial intelligence, data science, software development, and networking technologies, through independently developed digital platforms as well as by way of collaborating with established international and domestic organizations. Pursuant to the agreement, AI Trillions Private limited was incorporated on 23 April, 2024 with authorized share capital of Rs. 500. Further a total Rs. 100,000 will be provided to the Joint venture company by the Company and MK Center of Entrepreneurship Foundation in the form of loans or other debt instruments.

These matters do not have any impact on the financial Statements for year ended 31 March, 2024.

42 Segment information(a) Reportable Segment

In line with provisions of Ind AS 108-Operating segments, the Company is engaged in media operations for its customers in India and overseas which constitute single reportable business segment as reviewed by the Chief Operating Decision Maker (CODM).

44 Capitalisation of Video cost

The Company creates different kinds of content videos in covering multiple genres like documentaries, entertainment, sports, lifestyle, news etc. for its viewers. These videos are viewed over different platforms like YouTube, Facebook, its own website and through its channel partners.

In accordance with Ind AS 38 âIntangible Assetsâ, the videos created meet the definition of an asset as:

- The Videos are controlled by the Company as it retains the Intellectual Property Rights of these videos and it decides the platforms on which these will be posted for public viewership.

- It has the rights to remove these videos from these platforms as per its discretion.

- The economic benefits flow only to the Company, which are either direct economic benefit i.e. Partner/Programmatic revenue which is generated by monetization of these videos on various platforms based on viewership or Direct Selling of display advertisement revenue, which is generated for placement of various advertisements on Quint''s website or other platforms. Both of the revenues are related to content videos as these videos generate viewership.

The cost of video include direct expenses such as video crew, production costs, editing, visual effects and production overhead costs such as studio rent etc. It also includes on proportionate basis production-related administrative costs, if directly attributable and costs of employee benefits i.e. cost of Creative Team or production team working directly on creation of these videos.

The video cost had been assumed to have a life of 4 years and is to be amortized from the date of its publishing, 60% of the cost capitalized in the first year of video being published , 20% in the second year and 10% each in next 2 years. If a video, in later year, is found to be not generating any economic benefit it could be decided by the management to be written off completely in that year itself.

45 Rights issue

(a) In the previous year, pursuant to the basis of allotment for the Rights Issue approved by the BSE Limited, the Board of Directors in their meeting held on January 31, 2023, allotted 2,50,00,000 fully paid-up equity shares of the Company, having face value of '' 10 (Indian Rupee Ten) each in dematerialized form at an issue price of '' 50 (Indian Rupees Fifty Only) per equity share.

Pursuant to the above allotment, the Issued and Paid-up Equity Share Capital of the Company increased from existing Issued, Paid-up, Admitted and Listed Equity Share Capital of the Company of '' 2,19,698 divided into 2,19,69,808 Equity Shares of '' 10 each to '' 469,698 divided into 4,69,69,808 Equity Shares of '' 10 each.

The Company has incurred an expense of '' 14,828 for the purpose of rights issue which has been netted off from security premium during the year ended 31 March 2023.

46 Other statutory information

(a) The Company has not been declared a willful defaulters by any bank or financial institute or consortium thereof in accordance with the guidelines on willful defaulters issued by the RBI.

(b) There are no proceeding initiated or pending against the Company for holding any benami property und the Benami Transaction (Prohibition) Act 1988 (45 of 1988) and rule made thereunder.

(d) There is no immovable property whose title deed is not held in the name of the company.

(e) There is no charge or satisfaction of charge which is yet to be registered with Registrar of Companies beyond the statutory period.

(f) The Company do not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,1961.

(g) The company does not have any transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

(h) 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:

(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 Beneficiariesâ

(i) The Company other than as disclosed in note 47, 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.â

(j) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the current or previous year.

(k) The company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

(l) The company does not own any immovable property (including investment properties) other than properties where the company is the lessee and the lease agreement are duly executed in favor of the lessee.

48 The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled. The new requirement is applicable with effect from the financial year beginning on 1 April 2023.

The audit trail feature in an accounting software used for maintenance of all accounting records of the Company was not enabled from 1 April 2023 to 4 April 2023. Further another accounting software used for maintaining payroll records and preparation of salary sheet did not capture who made those changes i.e., User Id, and time of such changes at application level.

49 Previous yearâs figures has been regrouped and/ or reclassed wherever necessary to confirm to the current yearâs groupings and classifications. The impact of such regrouping/ reclassification is not material to the financial statements.

The summary of material accounting policies and other explanatory information form an integral part of these standalone financial statements.

Mar 31, 2023

There were no Intangible assets related projects under development as on 31 March, 2022.

*There were no projects that were suspended at the end of reporting year. Accordingly, disclosure on expected date of completion of suspended project has not been given. Further, there are no projects whose completion is overdue or has exceeded its cost compared to its original estimate.

(ii) During the previous year, The Company, in the ordinary course of business, has granted loans to following related parties (as defined under Companies Act, 2013) by entering into inter-corporate loan agreements under following terms and conditions:

Note: Loans to the aforesaid related parties were given to meet their respective working capital requirements. Also, refer note 30 for details related to loans given, investment made, security provided and guarantee given if any as required under section 186(4) of the Companies Act, 2013.

11.3 Aggregate number of bonus shares issued, shares issued for consideration other than cash during the period of five years immediately preceding the reporting date:

During the year ended 31 March 2021, the Company had capitalized and transferred to the Paid-up Share Capital such amount standing to the credit of the Securities Premium Account of the Company as at 31 December, 2020, for the purpose of the issue of 10,975,404 new equity shares as Bonus Shares of '' 10 (Rupees Ten only) each credited as fully paid-up, in proportion of existing equity shares held by way of issuing 1 (One) Equity Shares for every 1 (One) existing Equity Shares held. Thus total number of shares issued for consideration other than cash are nil (previous year- nil ; year ended 31 March 2021 - 10,975,404 as bonus issues). Other than this, the Company has not issued any shares pursuant to contracts without payment being received in cash, or allotted as fully paid up by way of bonus shares during the year ended 31 March, 2023 and five years immediately preceding the year ended 31 March, 2023. There are no shares bought back during the period of five years immediately preceding the reporting date.

11.5 Rights, preferences and restrictions attached to equity shares

11.8 Share options granted under the Companyâs employee share option plan:

The Company has reserved issuance of 11,49,500 (previous year 5,16,500) equity shares of '' 10 each for offering to eligible employees in the employment of the Company under Employees Stock Option Scheme (ESOS). Refer note no 36 for disclosures on share based payments.

Warrant forfeiture was created pursuant to forfeiture of warrants on account of non payment of final call money. During the year ended 31 March 2021, 7,524,596 Equity Warrants were lapsed due to non exercise by the warrant holders and the consideration amount equivalent to 25% of issue price, amounting to ''79,948.83 paid by the warrant holder(s) on such Equity Warrants were forfeited by the Company.

(ia) Demand loan of up to '' 125,000 (previous year: '' 125,000 ) from Barclays Bank PLC carrying an interest rate at 6.25% - 8.20% p.a. (previous year: 5.70% - 6.30%) and is repayable on demand subject to maximum period of 12 months from disbursement. The outstanding balance as on 31 March, 2023 is '' Nil (previous year: '' 125,000 ). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. This loan was repaid during the year.

(ib) Demand loan of up to '' 500 (previous year: '' nil ) from Kotak Mahindra Bank carrying an interest rate at 8.60% - 8.95% p.a. (previous year: nil) and is repayable on demand or maturity. The outstanding balance as on 31 March, 2023 is '' Nil (previous year: '' Nil ). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. This loan was repaid during the year.

(ilia) Working Capital facility of up to '' 20,000 (previous year: '' 50,000 ) from Ratnakar Bank Limited carries an interest at 7.50% - 9.10% pea (previous year 7.75% pea) and is also repayable on demand. The outstanding balance as on 31 March, 2023 is '' nil (previous year: '' nil). The facilities were secured by a charge over fixed deposit of '' 21,507.97 (previous year: '' 20,293.76). This loan was taken and repaid during the year.

(ibis) Working Capital facility of up to '' 218,500 (previous year: '' Nil ) from Kotak Mahindra Bank carries an interest at 7.90% pea (previous year Nil) and is also repayable on demand. The outstanding balance as on 31 March, 2023 is '' nil (previous year: '' nil). The facilities are secured by a charge over fixed deposits of '' 230,000 (previous year: '' Nil ). This loan was taken and repaid during the year.

(iii) Business investment and working capital facility up to '' 600,000 (previous year: '' 92,800 ) from Barclays Investment and Loans Limited carrying an interest at 7% - 9.35% pea (previous year: 5.50% - 7.10%) and is repayable on demand subject to maximum period of 12 months from disbursement. The outstanding balance as on 31 March, 2023 is '' 480,000 (previous year: '' 69,000 ). The facility is secured by hypothecation of bonds and debt mutual funds held by Company.

(iv) The Company is not required to submit any financials information to the banks as per sanction letter entered into with respective banks.

28 Earnings per share (EPS)

*Share options (unvested) under the ESOP Plan 2020 and right issue shares are considered to be potential equity shares. They have been included in the determination of diluted earnings per share to the extent to which they are dilutive.

** Basic and diluted earning per share for previous year have been retrospectively adjusted for the bonus element in respect of right issue made during the year ended 31 March, 2023.

29.2 Compensated absences

The leave obligations cover the Company''s liability for earned leave which are classified as other long-term benefits. The Company has unconditional right to defer settlement for any of these obligations and therefore the amount of provision of '' 6,363 (previous year '' 7,641) is presented as current and non-current based on the actuarial valuation.

Long term compensated absences are provided for based on actuarial valuation at year end. The actuarial valuation is done as per projected unit credit method.

29.3 Post-employment obligation (funded)

VII Investment details

Sensitivities due to mortality and withdrawals are not material. Hence impact of change is not calculated above.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of defined benefit obligation to significant actuarial assumptions the same method (present value of defined benefit obligations calculated with the projected unit credit method at the end of the reporting period ) has been applied as when calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

Risk

Actuarial Risk	It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons: Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in Obligation at a rate that is higher than expected.â
Investment Risk	For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair value of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount rate. This can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount rate during the inter-valuation period.
Discount rate	Reduction in discount rate in subsequent valuations can increase the plan''s liability.
Mortality and disability	Actual deaths and disability cases proving lower or higher than assumed in the valuation can impact the liabilities.
Withdrawals	Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent valuations can impact Plan''s liability.

XII The average duration of the defined benefit plan obligation at the end of the reporting period is 2.79 year (previous year: 2.37 years)

30 Related party disclosures, as per Ind AS 24

30.1 List of related parties30.1.1 Key management personnel (KMP)

(i) Ritu Kapur - Managing Director and Chief Executive Officer

(ii) Raghav Bahl - Director

(iii) Vivek Agarwal- Chief Financial Officer

(iv) Tarun Belwal- Company Secretary

(v) Mohan Lal Jain - Director

(vi) Vandana Malik - Director

(vii) Sanjeev Krishna Sharma - Director

(viii) Parshotam Dass Agarwal - Director

(ix) Abha Kapoor - Director (with effect from 31 December 2021)

30.1.2 Subsidiary Companies

(i) Quintillion Media Limited (formerly known as Quintillion Media Private Limited) (with effect from 19 January, 2022)

(ii) Quintillion Business Media Limited (formerly known as Quintillion Business Media Private Limited) (with effect from 19 January, 2022)

(iii) Quintype Technologies India Limited (formerly known as Quintype Technologies India Private Limited) (with effect from 19 January, 2022)

30.1.3 Associate Companies

(i) Spunklane Media Private Limited (with effect from 19 January, 2022)

(I) YKA Media Private Limited (with effect from 19 January, 2022)

30.1.4 Entities over which key management personnel are able to exercise significant influence and with whom transactions have taken place during the year

(i) RB Diversified Private Limited

(ii) Quintillion Media Limited (formerly known as Quintillion Media Private Limited) (upto 18 January, 2022)

(iii) Quintillion Business Media Limited (formerly known as Quintillion Business Media Private Limited) (upto 18 January, 2022)

(iv) Quintype Technologies India Limited (formerly known as Quintype Technologies India Private Limited) (upto 18 January, 2022)

(v) Spunklane Media Private Limited (upto 18 January, 2022)

(a) All the transactions were made on normal commercial terms and conditions and at market rates.

(b) No non cash transactions entered with Promoters during the year.

(d) During the year ended 31 March, 2023 the board of directors of the Company issued a letter of support to board of directors of Quintype Technologies India Limited.

(e) (In previous year it was given to Quintype Technologies India Limited and Quintillion Business Media Limited).

(f) The Company uses rent free premises as its registered address provided by a director (Mr. Mohan Lal Jain) during current year and previous year.

33 Fair value measurement33.1 Valuation techniques used to determine fair value

The fair value of the financial assets and liabilities is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods were used to estimate the fair values:- Current investment, trade receivables, cash and cash equivalents, loans, other financial assets, borrowings, trade payables and other current financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

- Borrowings, taken by the Company are as per the Company''s credit and liquidity risk assessment and there is no comparable instrument having the similar terms and conditions with related security being pledged and hence the carrying value of the borrowings represents the best estimate of fair value.

- The fair value of investment in mutual funds is measured at quoted price or net asset value (NAV).

33.3 Fair value hierarchy

There are no transfer between levels during the year.

Level 1: It includes financial instruments measured using quoted prices in active markets for identical assets or liabilities.

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs other than Level 1 inputs;

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

34 Financial risk management Risk management

The Company''s activities expose it to liquidity risk, credit risk and market risk. The Company''s board of directors has overall responsibility for the establishment and oversight of the Company''s risk management framework. This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the related impact in the financial statements.

34.1 Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial asset fails to meet its contractual obligations. The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each financial asset. The management also considers the factors that may influence the credit risk of its customer base, including the default risk etc. The carrying amounts of financial assets represent the maximum credit risk exposure.

A default on a financial asset is when the counterparty fails to make contractual payments as per agreed terms. This definition of default is determined by considering the business environment in which entity operates and other macro-economic factor.

The Company monitors its exposure to credit risk on an ongoing basis.

The Company closely monitors the credit-worthiness of the receivables through internal systems that are configured to define credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company uses a simplified approach (lifetime expected credit loss model) for the purpose of computation of expected credit loss for trade receivables.

During the period, the company made write-offs of trade receivables, it does not expect to receive future cash flows or recoveries from collection of cash flows written off in current year and previous year.

The credit risk in loans to related parties, contract asset (unbilled revenue) and other financial assets is low and therefore no allowance has been recognised. The loss allowances for financial assets are based on assumption about risk of default and expected loss rates. The company uses judgement in making these assumptions and selecting the impact to the impairment calculation.

34.2 Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, that it will have sufficient liquidity to meet its liabilities when they are due.

Management monitors the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity operates.

(i) Maturities of financial liabilities

The table below provides details regarding the contractual maturities of significant financial liabilities:

34.3 Market risk(i) Foreign exchange risk

The Company has international transactions and is exposed to foreign exchange risk arising from foreign currency transactions (imports and exports). Foreign exchange risk arises from future commercial transactions and recognised assets and liabilities denominated in a currency that is not the Company''s functional currency. The Company has not hedged its foreign exchange receivables and payables as at 31 March, 2023

35 Capital management(a) Risk management

The Company''s objectives when managing capital are:

- To ensure Company''s ability to continue as a going concern, and

- To maintain optimum capital structure and to reduce cost of capital

Management assesses the capital requirements in order to maintain an efficient overall financing structure. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. The Company is not subject to externally imposed capital requirements. The Company manages its capital requirements by overseeing the gearing ratio:

The net debt to equity ratio for the current year decreased from 53.41% to 20.34% as a result of rights issue which resulted in cash flows and cash held by the company at the end of year.

(i) Loan Covenants

Under the terms of the major borrowing facilities, the Company does not have to comply with any financial covenants.

(b) Dividends

All shareholders are equally entitled to dividends. This reserve is available for distribution to shareholders in accordance with provisions of Companies Act, 2013. The Company has not declared or paid any dividend during the year ended 31 March 2023.

36 Share based payments(a) Employee Option Plan

The vested options can be exercised between a period from the vesting date to a period not later than 8 (Eight) years from the date of Grant of Options.

(b) Fair value of option granted

Company''s shares are not presently publicly traded. The expected option life and average expected period to exercise, is assumed to be equal to the contractual maturity of the option. The risk-free rate is the rate associated with a risk-free security with the same maturity as the option. At each balance sheet date, the Company reviewed its estimates of the number of options that are expected to vest. The Company recognizes the impact of the revision to original estimates, if any, in the profit or loss in consolidated statement of comprehensive income, with a corresponding adjustment to âretained earnings'' in equity. The fair value of option using Black Scholes model and the inputs used for the valuation for options that have been granted during the reporting period are summarized as follows:

37 Extention and termination options

The Company''s lease asset class primarily consists of leases for buildings and plant and machinery. The rental contracts are typically made for fixed period of 3 to 5 years. With the exception of leases of low-value and cancellable long-term leases, each lease is reflected on the balance sheet as a right of use asset and a lease liability. These lease contracts do not contain any variable payment terms.

Lease liabilities are measured at the present value of the remaining lease payments, discounted using the weighted average borrowing rate on the date of adoption, i.e., 8.18%.

37.5 Critical judgements in determining the lease term

As at 31 March 2023, there is no potential future cash outflows that have not been considered in lease liability as there is no reasonable uncertainty that the leases will be extended (or not terminated).

38 Business Combination transactions

i) During the year ended 31 March, 2022, post approval of the Board of Directors and shareholders, the Company completed the acquisition of 368,000 equity shares of Spunklane Media Private Limited (âSpunklaneâ) for an aggregate consideration of '' 56,591 (on a deferred payment basis), in accordance with the terms and conditions specified in the Share Purchase Agreement dated November 10, 2021 executed with Mr. Raghav Bahl (a related party) in this regard.

Management''s assessment of investment in Spunklane involved significant judgement whether it has significant influence over investee when it has more than 20% voting rights and representation on the board of directors and power to participate in the financial and operating policy decisions of the investee but does not have control or joint control of those policies, in accordance with Ind AS 28, Investments in Associates and Joint Ventures (âInd AS 28''). The management concluded Spunklane as its associate.

ii) During the year ended 31 March, 2022, post approval of the Board of Directors and shareholders, the Company completed the acquisition of 100% stake on a fully diluted basis in Quintillion Media Limited for an aggregate consideration of '' 90,658 (after agreed closing adjustment of '' 98,005) , payable on a deferred basis, in accordance with the terms and conditions specified in the Share Purchase Agreement dated November 10, 2021 executed with Mr. Raghav Bahl (a related party) and RB Diversified Private Limited (a related party) in this regard. Accordingly, Quintillion Media Limited is a wholly-owned subsidiary of the Company.

Out of the total aggregate consideration of '' 90,658 , '' 21,607 was paid to acquire 85,000,000 shares, representing 100% stake, of Quintillion Media Limited. The balance consideration of '' 69,051 was paid for investment in debentures of Quintillion Media Limited as follows:

(a) 21,154,000 compulsorily convertible zero coupon debentures (CCZCDs) of '' 100 each of Quintillion Media Limited was purchased for a consideration of '' 53,774 .

(b) 6,010,000 optionally convertible zero coupon debentures (OCZCDs) of '' 100 each of Quintillion Media Limited was purchased for a consideration of '' 15,277.

41 Contingent liabilities and capital commitments

The Company does not have any contingent liability and capital commitments as on 31 March, 2023 and 31 March, 2022.

42 Exceptional Items

During the year ended 31 March 2022, the Company had availed certain transaction advisory services amounting to '' 5,000 in order to assist the management in acquisition of identified stakes in Spunklane Media Private Limited and Quintillion Media Limited (refer notes 38). These expenses were disclosed as an exceptional item during the previous year ended 31 March, 2022. There are no exceptional items during the current year.

43 Event occurring after the reporting period

The disclosures of non-adjusting subsequent events is as below:

(i) Pursuant to the approval of the Board of Directors on 14 November 2022, the Company has executed a Share Subscription

and Shareholders'' Agreement dated 21 January 2023 with Spunklane Media Private Limited, News Laundry Media Private Limited and other promoters, wherein the Company and News Laundry Media Private Limited have agreed to infusing additional share capital in Spunklane Media Private Limited on terms specified therein.

Subsequent to the year end, the Company and News Laundry Media Private Limited have infused additional capital amounting to ''8,740 & '' 9,500 respectively. The said capital infusion has not led to any change/ dilution of Company''s shareholding in Spunklane Media Private Limited.

44 Segment information(a) Reportable Segment

In line with provisions of Ind AS 108-Operating segments, the Company is engaged in media operations for its customers in India and overseas which constitute single reportable business segment as reviewed by the Chief Operating Decision Maker (CODM).

* The Company''s revenue has been allocated on the basis of location of customers.

** The Company''s has common assets for servicing domestic and overseas markets, Hence, assets has been allocated on the basis of asset''s location.

Separate figures for assets cannot be furnished.

Note 1 - Non current assets includes Property, plant and equipment, right of use assets, intangible assets and intangible assets under development exclude financial instruments and deferred taxes.

Note 2 - The Company does not have any non-current assets that are located in any region outside India.

* Consequent to the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 (âthe Rulesâ), the Company is in the process of examining suitable project for deployment of fund toward CSR activities. The timelines to spend the unspent amount is 6 months from the end of the financial year which has not expired as on the date of these financial statements.

46 Capitalisation of Video cost

It receives inputs from primary sources like news reporter, investigations etc., and secondary sources like Wire Services -Asian News International, Press Trust of India, Social Media platforms like Facebook or twitter. Based on inputs received the creative team creates the content videos and then publish the same on various platforms. The Company on acquisition of digital business has formulated a policy during year ended 31 March 2021, that the cost of content gets capitalised on the date of publishing.

In accordance with Ind AS 38 âIntangible Assetsâ, the videos created meet the definition of an asset as:

- The Videos are controlled by the Company as it retains the Intellectual Property Rights of these videos and it decides the platforms on which these will be posted for public viewership.

- It has the rights to remove these videos from these platforms as per its discretion.

- The economic benefits flow only to the Company, which are either direct economic benefit i.e. Partner/Programmatic revenue which is generated by monetisation of these videos on various platforms based on viewership or Direct Selling of display advertisement revenue, which is generated for placement of various advertisements on Quint''s website or other platforms. Both of the revenues are related to content videos as these videos generate viewership.

The cost of video include direct expenses such as video crew, production costs, editing, visual effects and production overhead costs such as studio rent etc. It also includes on proportionate basis production-related administrative costs, if directly attributable and costs of employee benefits i.e. cost of Creative Team or production team working directly on creation of these videos.

The video cost had been assumed to have a life of 4 years and is to be amortised from the date of its publishing, 60% of the cost capitalised in the first year of video being published , 20% in the second year and 10% each in next 2 years. If a video, in later year, is found to be not generating any economic benefit it could be decided by the management to be written off completely in that year itself.

47 Rights issue

(a) Pursuant to the basis of allotment for the Rights Issue approved by the BSE Limited, the Board of Directors in their meeting held on January 31, 2023, allotted 2,50,00,000 fully paid-up equity shares of the Company, having face value of '' 10 (Indian Rupee Ten) each in dematerialized form at an issue price of '' 50 (Indian Rupees Fifty Only) per equity share.

Pursuant to the above allotment, the Issued and Paid-up Equity Share Capital of the Company increased from existing Issued, Paid-up, Admitted and Listed Equity Share Capital of the Company of '' 2,19,698 divided into 2,19,69,808 Equity Shares of '' 10 each to '' 469,698 divided into 4,69,69,808 Equity Shares of '' 10 each.

The Company has incurred an expense of '' 14,828 for the purpose of rights issue which has been netted off from security premium.

*Of the unutilised right issue proceeds, there is no balance lying in Monitoring Agency Account as at 31 March, 2023. The unutilised right issue proceeds have been kept in fixed deposits and current account maintained with Kotak Mahindra Bank.

(c) The transaction cost amounting to '' 14,828 (previous year '' Nil) related to right issue has been adjusted with security premium in accordance with the provision of the Companies Act, 2013. (refer note 12)

48 Other statutory information

(a) The Company has not been declared a wilful defaulters by any bank or financial institute or consortium thereof in accordance with the guidelines on wilful defaulters issued by the RBI.

(b) There are no proceeding initiated or pending against the Company for holding any benami property und the Benami Transaction (Prohibition) Act 1988 (45 of 1988) and rule made thereunder.

(d) There is no immovable property whose title deed is not held in the name of the company.

(e) There is no charge or satisfaction of charge which is yet to be registered with Registrar of Companies beyond the statutory period.

(g) The company does not have any transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

(h) 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:

(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

(i) 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.

(j) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets during the current or previous year.

(k) The company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

The summary of significant accounting policies and other explanatory information form an integral part of these standalone financial statements.

Mar 31, 2015

1. RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Key Management Personnel & their Relatives

i. Pratap Singh Bohre.

ii. Tarun Bohra

iii. Dilip Bohra

2. DETAIL OF MANAGERIAL REMUNERATION

During the last financial year No Remuneration/ Sitting fees paid to any directors of company.

3. SEGMENT IOFORMATION

The company is involved line business of ship breaking & of d machinery mismanaging, which is the only business segment of the company. However in fees current year due to lack of business opportunities no ship was purchaesd for dismantling and the company has earned against sale of Import license & interest income based on guiding principles given is the AS-17 on segment reporting, as specified in the companies (Accounting standards) Rules 2006 being only business segment, no segment information ' thereof is given.

4. In the opinion of the Management the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

5. The Company has not receded any intimation If on suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2005 and hence disclosures, if any. relating to amounts unpaid as at the year end together with interest paid/ payable an required under the said Act have not been given,

6. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure or a concerned liability is made when there is a possible obligation or e present obligation that they, but probably would not require an outflow of recourses. Where there in a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

Mar 31, 2014

1. RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Associates -

Bohra Ventures Pvt. Ltd.

b. Key Management Personnel & their Relatives

i. Pratap Singh Bohra

ii. Tarun Bohra

iii. Kamal Singh Baid

iv. Nikhil Bohra

2. SEGMENT INFORMATION

The company is involved in the business of ship breaking & old machinery dismantling, which is the only business segment of the company. However in the current year, due to lack of business opportunities no ship was purchased for dismantling and the company has earned only interest income. Based on guiding principles given in the AS-17 on segment reporting, as specified in the companies (Accounting standards) Rules, 2006, being only business segment, no segment information thereof is given.

3. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been given.

5. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. 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 that the likelihood of outflow of resources is remote, no provision or disclosure is made.

6. Previous year's figures have been regrouped and/or rearranged wherever necessary.

Mar 31, 2013

1 RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Related Party -

i. Bohra Venturas Pvt. Ltd. #

b. Key Management Personnel & their Relatives

i. P.S.Bohra

ii. Tarun Bohra

iii. Komal Singh Baid

2. DETAILS OF MANAGERIAL REMUNERATION

During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company.

3. SEGMENT INFORMATION

The company is involved in the business of ship breaking Sold machinery dismantling, which is the only Business segment of the company. Based on guiding principles given in the AS - 17 on Segment reporting, as specified in the companies {Accounting Standards) Rules, 2006, being only business segment, no segment information thereon given.

4. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized In the ordinary course of business.

5. The Company has not received any intimation from suppliers regarding '.heir status under the Micro. Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any relating lo amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.

6. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when require is a present obligation as a result of a past event that .probably requires an outflow of resources and a reliable estimate can Le made of the amount of the obligation, A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may: but probably will not, -"equine an outflow of resources. Where there is a possible obligation or a present obligation that the fake hood of outflow of resources is remote, no provision or disclosure is made.

7. Previous year's figures have been regrouped and/or rearranged wherever necessary.

Mar 31, 2012

1. RELATED PARTY DISCLOSURES

a. Related companies where common control exists

i. Bohra Exports Pvt.Ltd.

ii. Bohra Ventures Pvt.Ltd.

iii. Modisch Commodities P.Ltd.

iv. Rezcom Realty P.Ltd.

b. Key Management Personnel & their Relatives

i. P.S. Bohra

ii. Vivek Bohra

iii. Nikhil Bohra

2. DETAIL OF MANAGERIAL REMUNERATION

During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company

3. AUDITOR'S REMUNERATION

Included under office & administrative Expenditure

4. SEGMENT INFORMATION

The company is mainly involved in the business of ship breaking which is the only business segment of the company. Based on guiding principles given in the AS - 17 on Segment- Reporting as specified in the companies (Accounting Standard) Rules, 2006. Being on business segment, no segmental information thereof is given.

5. In the opinion of the Management, the Current Assets, Loans & Advances approximately arms of the value stated if realized in the ordinary course of business.

6. As per the information available with the Company, there are no dues outstanding include: B interest as on 31st March, 2012 to Small and Micro enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006

7. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a passel event that probably requires an outflow of resources and a reliable estimate can be made the amount of the obligation. 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 off resources. Where there is a possible obligation or a present obligation that the likelihood outflow of resources is remote, no provision or disclosure is made.

8. Previous year's figures have been regrouped and/or rearranged wherever necessary.

Mar 31, 2011

1. Tax Deducted at Source on Interest is Rs.122488 (Previous year Rs. 32,596)

2 The Company has adopted Accounting standard (AS) -22- "Accounting for taxes on Income from the financial year 2005-2006. Accordingly details of major components of Differed Ta: Assets and Differed Tax Liability as on 31.03.2011 is as follows:

3. Detail of Managerial Remuneration During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company.

4. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

5. As per the information available with the Company, there are no dues outstanding including interest as on 31 st March, 2011 to Small and Micro enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006

6. Segment Information The Company has earned Interest Income and has only one segment.

7. Previous year's figures have been regrouped and/or rearranged wherever necessary.

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