Notes to Accounts of Silver Touch Technologies Ltd.

Mar 31, 2025

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions (excluding
retirement benefits and compensated absences) are not discounted to its present value unless the effect of time value of money is
material and are determined based on best estimate required to settle the obligation at the Balance sheet date. These are reviewed at
each Balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities and Assets are not recognised in the
financial statements.

xx) Foreign Currency Transactions :

(i) Functional and presentation currency

Items included in the financial statements of the entity are measured using the currency of the primary economic environment in
which the entity operates (''the functional currency''). The financial statements are presented in Indian rupee ( ? ), which is entity''s
functional and presentation currency.

(ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions.
Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and
liabilities denominated in foreign currencies at year end exchange rates are generally recognised in statement of profit or loss. Non
monetary assets and liabilities that are measured in terms of historical cost in foreign currencies are not retranslated. Non-monetary
items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value
was determined.

xxi) Income taxes:

(i) Current income taxes

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the
reporting date in the countries where the Group operates and generates taxable income.

Current income tax relating to items recognised outside statement of profit or loss is recognised outside statement of profit or loss
(either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction
either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in
which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Advance taxes and
provisions for current income taxes are presented in the Balance sheet after off-setting advance tax paid and income tax provision
arising in the same tax jurisdiction and where the relevant tax paying units intends to settle the asset and liability on a net basis.

(ii) Deferred income taxes

Deferred income tax is recognised using the Balance sheet approach. Deferred income tax assets and liabilities are recognised for
deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except
when the deferred income tax arises from the initial recognition of an asset or liability in a transaction that is not a business
combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be Utilised.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years
in which the temporary differences are expected to be received or settled.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority and the relevant
entity intends to settle its current tax assets and liabilities on a net basis.

Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws in India, which is likely to give future
economic benefits in the form of availability of set off against future economic tax liability. Accordingly, MAT is recognised as deferred
tax asset in the Balance sheet when the asset can be measured reliably and it is probable that the future economic benefit associated
with the asset willbe realised.

The Group recognises interest levied and penalties related to income tax assessments in finance costs.

Leases

The Company as a lessee

The Company''s lease asset classes consist of leases for land,buildings and computers. The Company assesses whether a contract
contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an
identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of
an identified asset, the Company assesses whether :

(i) the contract involves the use of an identified asset

(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and

(iii) the Company has the right to direct the use of the asset. At the date of commencement of the lease, the Company recognizes a
right-of-use asset ("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a
term of twelve months or less (short-term leases) and low value leases. For these short-term and low value leases, the Company
recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.

As a lessee, the Company determines the lease term as the non-cancellable period of a lease adjusted with any option to extend or
terminate the lease, if the use of such option is reasonably certain. The Company makes an assessment on the expected lease term
on a lease-by-lease basis and thereby assesses whether it is reasonably certain that any options to extend or terminate the contract
will be exercised. In evaluating the lease term, the Company considers factors such as any significant leasehold improvements
undertaken over the lease term, costs relating to the termination of the lease and the importance of the underlying asset to Infosys''s
operations taking into account the location of the underlying asset and the availability of suitable alternatives. The lease term in future
periods is reassessed to ensure that the lease term reflects the current economic circumstances. Certain lease arrangements include
the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options
when it is reasonably certain that they will be exercised.

The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives.

They are subsequently measured at cost less accumulated depreciation and impairment losses.

ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of
the underlying asset. Right-of-use-assets are evaluated for recoverability whenever events or changes in circumstances indicate that
their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the
fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash
flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash
Generating Unit (CGU) to which the asset belongs. The lease liability is initially measured at amortized cost at the present value of the
future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable,
using the incremental borrowing rates in the country of domicile of these leases. Lease liabilities are remeasured with a corresponding
adjustment to the related right-of-use asset if the Company changes its assessment to whether it will exercise an extension or a
termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as
financing cash flows. The Company as a lessor Leases for which the Company is a lessor is classified as a finance or operating lease.
Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as
a finance lease. All other leases are classified as operating leases. When the Company is an intermediate lessor, it accounts for its
interests in the head lease and the sublease separately. The sublease is classified as a finance or operating lease by reference to the
right-of-use asset arising from the head lease. For operating leases, rental income is recognized on a straight-line basis over the term
of the relevant lease.

xxii) Recent accounting pronouncements:

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian
Accounting Standards) Amendment Rules, 2023, as below :

Ind AS 1, Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies
rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or
after April 1, 2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in the standalone
financial statements. Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a
definition of ''accounting estimates'' and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies
from changes in accounting estimates. The effective date for adoption

of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no
impact on its Standalone financial statements. Ind AS 12, Income Taxes - This amendment has narrowed the scope of the initial
recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The
effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the
amendment and there is no impact on its Standalone financial statements.

Nature and purpose of reserves

(i) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Act.

(ii) Retained earnings

The amount that can be distributed by the Company as dividends to its equity shareholders is determined based on the balance in this reserve and also considering the requirements of
the Companies Act, 2013.

(iii) General Reserve

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the business during the course of an accounting period for fulfilling various
business needs like meeting contingencies, offsetting future losses, enhancing the working capital, paying dividends to the shareholders, etc.

(iv) Other Comprehensive income

a) The fair value change of the equity instruments measured at fair value through other comprehensive income is recognised in equity instruments through Other Comprehensive Income

b) The remeasurement gain/(loss) on net defined benefit plans is recognised in Other Comprehensive Income net of tax.

Note 35 The company has during the Year provided depreciation on fixed assets used during the year as per Straight Line Method on the basis of useful life of
assets and residual value as specified in schedule II of the Companies Act, 2013 except on few assets, where different life has been estimated by the
management where assets are for specific project.Depreciation on additions or sale/discard of asset is being provided on pro-rata basis from the date on
which such asset is ready to be put to use to date of sale/discard. (Refer note 1 - point VI)

In order to make provision for Gratuity payable to employees, company has obtained Acturial Valuation report from M/s.Kapadia Global Associates ,
''Actuaries''. On the basis of valuation report of Actuaries, company has made provision for Gratuity Payable in accounts. However, no investments made
to meet liabilty in future. Company charge the addition in liability of Gratuity payable to Statement of Profit & Loss.

The following table sets out unfunded status of the gratuity payable and the amounts recognised in the Company''s financial statements for the period
ended March 31,2025.

Note 43 Ind AS 116 Leases

The Accounting Standard Board has issued an exposure draft on Ind AS 116, Leases, with a proposed effective date of 1st April, 2019, subject to
notification by Ministry of Corporate Affairs and Ind AS 116 supersedes Ind AS 17 ''Leases''. Ind AS 116, " Leases" will be applicable on the companies which
are preparing their financial statements as per Ind AS.

Ind AS 116 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12
months, unless the underlying asset is of low value. A lessee is required to recognise a right-of-use asset representing its right to use the underlying
leased asset and a lease liability representing its obligation to make lease payments.

3 Financial risk management objectives

The Company''s Corporate finance department provides services to business, co-ordinates access to domestic and international financial markets, monitors and manages the
financial risks relating to the operations of the Company through internal risk reports which analyse the exposures by degree and magnitude of risks. These risks include
market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

4 Market risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates due to variable interest loans. . The Company does not enter into derivative
contracts to manage risks related to anticipated sales and purchases.

5 Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are
managed within approved policy parameters utilizing forward foreign exchange contracts and currency options taken at the time of initiation of the booking by the
management. Such decision is taken after considering the factors such as upside potential, cost of structure and the downside risks etc. Quarterly reports are submitted to
Management Committee on the covered and open positions and MTM valuation.

The carrying amounts of the Company''s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows.

There are no such transactions during the reporting period

5.1 Foreign currency sensitivity analysis

The Company is not materially exposed to USD and EURO currency or any other foreign currencies.

6 Interest rate risk management

The Company is exposed to interest rate risk because funds are borrowed at both fixed and floating interest rates. Interest rate risk is measured by using the cash flow
sensitivity for changes in variable interest rate. The Company has exposure to interest rate risk, arising principally on changes in interest rates. The Company uses a mix of
interest rate sensitive financial instruments to manage the liquidity and fund requirements for its day to day operations like long term and short term loans. The risk is
managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings. Hedging activities are evaluated regularly to align with interest
rate views and defined risk appetite, ensuring the most cost-effective hedging strategies are applied.

The table in 6.1 provides a break-up of the Company''s fixed and floating rate borrowings:

6.1 Interest rate sensitivity analysis

The sensitivity analyses below have been determined based on the exposure to interest rates for both derivatives and non-derivative instruments at the end ofthe reporting
period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole
year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management''s assessment of
the reasonably possible change in interest rates.

The following table provides a break-up of the Company''s fixed and floating rate borrowings and interest rate sensitivity analysis.

7 Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses of both, the
direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. The Company has adopted a policy of only dealing with creditworthy
counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses publicly available
financial information and its own trading records to rate its major customers. The Company''s exposure and the credit ratings of its counterparties are continuously
monitored and the aggregate value of transactions concluded is spread amongst approved counterparties.

Trade receivables consist of a large number of customers, spread across diverse geographical areas. Ongoing credit evaluation is performed on the financial condition of
accounts receivable.

The Company does not have significant credit risk exposure to any single counterparty. Concentration of credit risk related to the above mentioned company did not exceed
10% of gross monetary assets at any time during the year. Concentration of credit risk to any other counterparty did not exceed 10% of gross monetary assets at any time
during the year.

7.1 Collateral held as security and other credit enhancements

The Company does not hold any collateral or other credit enhancements to cover its credit risk associated with its financial assets.

8 Liquidity risk management

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual
cash flows, and by matching the maturity profiles of financial assets and liabilities.

Disclosure as per Ind AS 113 - Fair Value Measurements

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in an orderly transaction in the principal (or most
advantageous) market at measurement date under the current market condition regardless of whether that price is directly observable or estimated using other valuation
techniques.

The Company has established the following fair value hierarchy that categorizes the values into 3 levels. The inputs to valuation techniques used to measure fair value of
financial instruments are:

Level 1- Level 1 hierarchy includes financial instruments measured using quoted prices. This Includes listed equity instruments that have quoted price. Listed and actively
traded equity instruments are stated at the last quoted closing price on the National Stock Exchange of India Limited (NSE).

Level 2- The fair value of financial instruments that are not traded in active market is determined using valuation techniques which maximize the use of observable market
data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3- If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. The fair value of the financial assets and
liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current
market transactions and dealer quotes of similar instruments.

Valuation Techniques used to determine fair values:

A) Specific valuation technique is used to determine the fair value of the financial instruments which include:

i) For financial instruments other than (ii):- In accordance with generally accepted pricing models based on Net Asset Value analysis using prices from observable market
transactions and dealer quotes of similar instruments.

ii) For financial liabilities (domestic currency loans) :- appropriate market borrowing rate of the entity as of each balance sheet date used.

The following tables detail the Company''s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods and its non-derivative
financial assets. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be
required to pay.

Note 50 The company is not declared as a wilful defaulter by any bank or financial institution or other lender.

Note 51 During the company has let out the Plant and machinary, Furnitures and other equipments to its Subsidiary Vision Autotests Private Limited on lease and
earned revenue of Rs. 82,50,000/-

Note 52 The company is not having any relationship with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act,
1956:

Note 53 There has not been any delay in registering the charges or satisfaction with Registrar of Companies beyond the statutory period.

Note 54 The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of
Layers) Rules, 2017

Note 55 The company has not undergone through any Scheme of Arrangements that has been approved by the Competent Authority in terms of sections 230 to
237 of the Companies Act, 2013

Note 56 There are no transactions which are not recorded in the books of accounts and that has been surrendered or disclosed as income during the year in the
tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

Note 57 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Note 58 Balances of Secured Loans, unsecured loans, Debtors, Creditors for goods, creditors for expenses, loans and advances and advance from customers are
subject to confirmation.

Note 59 The company has credited Rs.5,245.59 Lakhs (previous year Rs.2,658.21 Lakhs) to its revenue in profit and loss statement as Accrued revenue, whose
services are already rendered but invoices are made after the balance sheet date but before the reporting date. Such treatment is given as per the various
agreement/contracts with client which requires the company to raise invoice in the following month of completion of services. Hence, the company has
not made provision for GST liability over the same as on balance sheet date, but company has accounted for the GST liability on such revenue as and
when the invoices are generated before the reporting date.

Note 60 The Company (STTL India) used SAP B1 for maintaining its transactions for the year, which have a feature of recording audit trail (edit log) facility. The
audit trail facility has been operated throughout the year and it was implemented for all the branches. Further, the audit trail feature has not been
tampered with in accouting software. Other Indian Subsidiary Companies i.e Vision Autotest & Silvertouch Autotech were maintaining accounting in Tally
ERP 9, in which Audit Trail Feature is enabled throughout the year.

Note 61 Figures are shown in denomination of lakhs

For and on behalf of Board of Directors

Signatories to Note 1 to 61

For AMBALAL PATEL & CO LLP
CHARTERED ACCOUNTANTS

Firm Reg. No. : FRN: 100305W/W101093 Vipul Thakkar Jignesh Patel

Chairman & Managing Director Director

DIN - 00169558 DIN - 00170562

CA Nilay R Bhavsar
Designated Partner
M.No. 137932

UDIN: 25137932BMIIVU6641 Kashish Purohit Paulin shah

Company Secretary CFO

Ahmedabad ACS-72990 PAN - ALLPS0814L

08-05-2025

Mar 31, 2024

Details of rights, preferences and restrictions attached to the shares

The Company has only one class of equity shares having a par value of ^ 10/- per share. Each holder of equity share is entitled to one vote per share.

In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

The Company doesnot have any holding Company.

As per records of the company, including its register of share holders/members and other declaration received from the share holders regarding beneficial interest, the above share holding represents both legal and beneficial ownership of shares.

Nature and purpose of reserves

(ii) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Act.

(ii) Retained earnings

(iii) General Reserve

offsetting future losses, enhancing the working capital, paying dividends to the shareholders, etc.

(iv) Other Comprehensive income

a) The fair value change of the equity instruments measured at fair value through other comprehensive income is recognised in equity instruments through Other Comprehensive Income

b) The remeasurement gain/(loss) on net defined benefit plans is recognised in Other Comprehensive Income net of tax.

Utilisation of Borrowed funds and share premium:

(A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall 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 provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

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

Note 29 Capital Commitments

The estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 195.29 lakhs towards capitalisation of RTO Fitness Centre. (previous year Rs. 482.52 lakhs).

Note 30 Contingent Liabilities

There are contingent liability of the company as under:

(Amount in ^ Lakhs)
Bank Guarantee	Current Year	Previous Year
Bank of India	2062.38	1482.65
Yes Bank	923.77	844.30

The above bank guarantees are issued by Bank of India and Yes Bank against 10% margin in the form of Fixed Deposits.

Note 31 Pursuant to Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and

Medium Enterprises. The company is in process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts.

Note 34 The company has during the Year provided depreciation on fixed assets used during the year as per Straight Line Method on the basis of useful life of assets and residual value as specified in schedule II of the Companies Act, 2013 except on few assets, where different life has been estimated by the management where assets are for specific project.Depreciation on additions or sale/discard of asset is being provided on pro-rata basis from the date on which such asset is ready to be put to use to date of sale/discard.

Note 38 Management expects that the entire transaction price alloted to the unsatisfied contract as at the end of the reporting period will be recognised as revenue during the next financial year.

Note 39 Segment Reporting

The company''s Business Segment is ''Computers & IT Services'' and it has no other primary reportable segments. Geographical revenues are segregated based on the location of the customer who is invoiced or in relation to which the revenue is otherwise recognized. Customer relationships are driven based on the location of the respective clients. Company''s business activities outside India are spread mainly in United Kingdom, USA, Canada & France . Hence, there are two reportable segment of company viz., Domestic & Exports.

i) The company has disclosed Geographical Segments as the primary segment.

ii) Segments have been identified taking into account the nature of the products, differential risks and returns, the organizational structure and internal reporting system. The company''s operations predominantly relate to Computer & IT Services.

In order to make provision for Gratuity payable to employees, company has obtained Acturial Valuation report from M/s.Kapadia Global Associates , ''Actuaries''. On the basis of valuation report of Actuaries, company has made provision for Gratuity Payable in accounts. However, no investments made to meet liabilty in future. Company charge the addition in liability of Gratuity payable to Statement of Profit & Loss.

The following table sets out unfunded status of the gratuity payable and the amounts recognised in the Company''s financial statements for the period ended March 31,2024.

(vi) A Description of any Asset-Liability Matching Strategies

i) It was informed by the company that Gratuity Benefits liabilities of the company are Unfunded

ii) There are no minimum funding requirements for a Gratuity Benefits plan and there is no compulsion on the part of the Company to fully or partially pre-fund the liabilities under the Plan.

The Accounting Standard Board has issued an exposure draft on Ind AS 116, Leases, with a proposed effective date of 1st April, 2019, subject to notification by Ministry of Corporate Affairs and Ind AS 116 supersedes Ind AS 17 ''Leases''. Ind AS 116, " Leases" will be applicable on the companies which are preparing their financial statements as per Ind AS.

Ind AS 116 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognise a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments.

3 Financial risk management objectives

The Company''s Corporate finance department provides services to business, co-ordinates access to domestic and international financial markets, monitors and manages the financial risks relating to the operations of the Company through internal risk reports which analyse the exposures by degree and magnitude of risks. These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

4 Market risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates due to variable interest loans. . The Company does not enter into derivative contracts to manage risks related to anticipated sales and purchases.

5 Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters utilizing forward foreign exchange contracts and currency options taken at the time of initiation of the booking by the management. Such decision is taken after considering the factors such as upside potential, cost of structure and the downside risks etc. Quarterly reports are submitted to Management Committee on the covered and open positions and MTM valuation.

The carrying amounts of the Company''s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows.

There are no such transactions during the reporting period 5 2 Foreign currency sensitivity analysis

The Company is not materially exposed to USD and EURO currency or any other foreign currencies.

6 Interest rate risk management

The Company is exposed to interest rate risk because funds are borrowed at both fixed and floating interest rates. Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rate. The Company has exposure to interest rate risk, arising principally on changes in interest rates. The Company uses a mix of interest rate sensitive financial instruments to manage the liquidity and fund requirements for its day to day operations like long term and short term loans. The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring the most cost-effective hedging strategies are applied.

The table in 6.1 provides a break-up of the Company''s fixed and floating rate borrowings:

6.1 Interest rate sensitivity analysis

The sensitivity analyses below have been determined based on the exposure to interest rates for both derivatives and non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year. A50 basis point increase ordecrease is used when reportinginterest rate risk internally to key managementpersonnel and represents management''sassessmentofthe reasonably possible change in interest rates.

7 Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses publicly available financial information and its own trading records to rate its major customers. The Company''s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties.

Trade receivables consist of a large number of customers, spread across diverse geographical areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable.

The Company does not have significant credit risk exposure to any single counterparty. Concentration of credit risk related to the above mentioned company did not exceed 10% of gross monetary assets at any time during the year. Concentration of credit risk to any other counterparty did not exceed 10% of gross monetary assets at any time during the year.

7.1 Collateral held as security and other credit enhancements

The Company does not hold any collateral or other credit enhancements to cover its credit risk associated with its financial assets.

8 Liquidity risk management

Liquidity risk refers to the risk of financial distress or extraordinary high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the Company''s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Disclosure as per Ind AS 113 - Fair Value Measurements

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in an orderly transaction in the principal (or most advantageous) market at measurement date under the current market condition regardless of whether that price is directly observable or estimated using other valuation techniques.

The Company has established the following fair value hierarchy that categorizes the values into 3 levels. The inputs to valuation techniques used to measure fair value of financial instruments are:

Level 1- Level 1 hierarchy includes financial instruments measured using quoted prices. This Includes listed equity instruments that have quoted price. Listed and actively traded equity instruments are stated at the last quoted closing price on the National Stock Exchange of India Limited (NSE).

Level 2- The fair value of financial instruments that are not traded in active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3- If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. The fair value of the financial assets and liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer quotes of similar instruments.

Valuation Techniques used to determine fair values:

A) Specific valuation technique is used to determine the fair value of the financial instruments which include:

i) For financial instruments other than (ii):- In accordance with generally accepted pricing models based on Net Asset Value analysis using prices from observable market transactions and dealer quotes of similar instruments.

ii) For financial liabilities (domestic currency loans) :- appropriate market borrowing rate of the entity as of each balance sheet date used.

The following tables detail the Company''s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods and its non-derivative financial assets. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay.

Note 47 No proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition)

Act, 1988 (45 of 1988) and rules made there under.

Note 48 Disclosure with respect to borrowings from banks or financial institutions on the basis of security of current assets:

(a) The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts.

Note 49 The company is not declared as a wilful defaulter by any bank or financial institution or other lender.

Note 50 The company is not having any relationship with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act,

Note 51 There has not been any delay in registering the charges or satisfaction with Registrar of Companies beyond the statutory period.

Note 52 The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of

Note 53 The company has not undergone through any Scheme of Arrangements that has been approved by the Competent Authority in terms of sections 230 to

237 of the Companies Act, 2013

Note 54 There are no transactions which are not recorded in the books of accounts and that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

Note 55 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Note 56 Balances of Secured Loans, unsecured loans, Debtors, Creditors for goods, creditors for expenses, loans and advances and advance from customers are subject to confirmation.

Note 57 The company has credited Rs.2,658.21 Lakhs (previous year Rs.1,901.51 Lakhs) to its revenue in profit and loss statement as Accrued revenue, whose services are already rendered but invoices are made after the balance sheet date but before the reporting date. Such treatment is given as per the various agreement/contracts with client which requires the company to raise invoice in the following month of completion of services. Hence, the company has not made provision for GST liability over the same as on balance sheet date, but company has accounted for the GST liability on such revenue as and when the invoices are generated before the reporting date.

Note 58 The Company (STTL India) used SAP B1 for maintaining its transactions for the year, which have a feature of recording audit trail (edit log) facility. The audit trail facility has been operated throughout the year and it was implemented for all the branches. Further, the audit trail feature has not been tampered with in accouting software. Other Indian Subsidiary Companies i.e Vision Autotest & Silvertouch Autotech were maintaining accounting in Tally ERP 9, in which Audit Trail Feature is enabled throughout the year.

Note 59 Previous year figures are regrouped and rearranged wherever necessary to compare with Current Period figures.

Note 60 Figures are rounded off to the nearest rupee.

Mar 31, 2023

xx) Provisions, Contingent Liabilities and Contingent Assets :

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value unless the effect of time value of money is material and are determined based on best estimate required to settle the obligation at the Balance sheet date. These are reviewed at each Balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities and Assets are not recognised in the financial statements.

xxi) Foreign Currency Transactions :

(i) Functional and presentation currency

Items included in the financial statements of the entity are measured using the currency of the primary economic environment in which the entity operates (''the functional currency''). The financial statements are presented in Indian rupee (?), which is entity''s functional and presentation currency.

(ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in statement of profit or loss. Non monetary assets and liabilities that are measured in terms of historical cost in foreign currencies are not retranslated. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined.

xxii) Income taxes:

(i) Current income taxes

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Group operates and generates taxable income.

Current income tax relating to items recognised outside statement of profit or loss is recognised outside statement of profit or loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Advance taxes and provisions for current income taxes are presented in the Balance sheet after off-setting advance tax paid and income tax provision arising in the same tax jurisdiction and where the relevant tax paying units intends to settle the asset and liability on a net basis.

(ii) Deferred income taxes

Deferred income tax is recognised using the Balance sheet approach. Deferred income tax assets and liabilities are recognised for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition of an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be Utilised.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be received or settled.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority and the relevant entity intends to settle its current tax assets and liabilities on a net basis.

Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws in India, which is likely to give future economic benefits in the form of availability of set off against future economic tax liability. Accordingly, MAT is recognised as deferred tax asset in the Balance sheet when the asset can be measured reliably and it is probable that the future economic benefit associated with the asset willbe realised.

The Group recognises interest levied and penalties related to income tax assessments in finance costs.

Leases

The Company as a lessee

The Company''s lease asset classes consist of leases for land,buildings and computers. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether :

(i) the contract involves the use of an identified asset

(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and

(iii) the Company has the right to direct the use of the asset. At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU") and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value leases. For these shortterm and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.

As a lessee, the Company determines the lease term as the non-cancellable period of a lease adjusted with any option to extend or terminate the lease, if the use of such option is reasonably certain. The Company makes an assessment on the expected lease term on a lease-by-lease basis and thereby assesses whether it is reasonably certain that any options to extend or terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any significant leasehold improvements undertaken over the lease term, costs relating to the termination of the lease and the importance of the underlying asset to Infosys''s operations taking into account the location of the underlying asset and the availability of suitable alternatives. The lease term in future periods is reassessed to ensure that the lease term reflects the current economic circumstances. Certain lease arrangements include the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they will be exercised.

The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives.

They are subsequently measured at cost less accumulated depreciation and impairment losses.

ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset. Right-of-use-assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs. The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of these leases. Lease liabilities are remeasured with a corresponding adjustment to the related right-of-use asset if the Company changes its assessment to whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows. The Company as a lessor Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases. When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sublease separately. The sublease is classified as a finance or operating lease by reference to the right-of-use asset arising from the head lease. For operating leases, rental income is recognized on a straight-line basis over the term of the relevant lease.

xxiii) Recent accounting pronouncements:

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian

Accounting Standards) Amendment Rules, 2023, as below :

Ind AS 1, Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in the standalone financial statements. Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of ''accounting estimates'' and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption

of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its Standalone financial statements. Ind AS 12, Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its Standalone financial statements.

# All the title deeds with respect to Immovable Properties are held in the name of the company.

# Impairment of Fixed Assets

In accordance with the Accounting Standard (AS-28) on ''Impairment of Assets'' notified by Companies (Accounting Standards) Rules, 2006, the company has reassessed its fixed assets and is of the view that no further impairment/reversal is considered to be necessary in view of its expected realizable value.

# Revaluation Of Fixed Assets:

The company has not revalued any Property, Plant and Equipment during current year.

# Revaluation Of Fixed Assets in earlier years

As on 31.03.2011 the company has revalued the office buildings and Godown Building on the basis of the Valuation report dated 31.03.2011 given by Government Registered Valuer Shri Shailesh Khandwala. As per the valuation report, the details of historical cost and revalued amounts are as under:

Nature and purpose of reserves

(ii) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Act.

(ii) Retained earnings

(iii) General Reserve

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the business during the course of an accounting period for fulfilling various business needs like meeting contingencies, offsetting future losses, enhancing the working capital, paying dividends to the shareholders, etc.

(iv) Other Comprehensive income

a) The fair value change of the equity instruments measured at fair value through other comprehensive income is recognised in equity instruments through Other Comprehensive Income.

b) The remeasurement gain/(loss) on net defined benefit plans is recognised in Other Comprehensive Income net of tax.

(v) Revaluation Reserve

The company have opted exemption under paragraph D5 of Ind AS 101 at the date of transition and accordingly the opening balance of Rs. 386.31 lakhs of revaluation surplus as per previous GAAP has been transferred to retained earnings. ITFG(14)-(6)

Note 35 The company has during the Year provided depreciation on fixed assets based on estimated life and realisable value as prescribed in Schedule II of the Companies Act, 2013.

Note 36 Related party disclosure as required by ind as 24 issued by the Institute of Chartered Accountants of India.

A) List Of Related parties & Relationships

a) Subsidiaries, Fellow Subsidiaries, and Associates

a) Subsidiaries : 1) Silvertouch Technology (UK) Ltd

2) Silvertouch Technologies Inc.

3) Silver Touch Technologies canada Ltd.

4) Silver Touch Auto Tech Private Limited

b) Fellow Subsidiary : None

c) Associates : 1) Shark Identity Pvt Ltd

2) Lime Software (UK)

3) Silvertouch Technologies SAS

4) Iriss Scanners Technologies Pvt Ltd

b) Key Management Personnel : 1) Vipul H. Thakkar

2) Minesh V. Doshi

3) Jignesh A. Patel

4) Palak V. Shah

5) Himanshu Jain

6) Paulin Shah

7) Vishnu Thaker

c) Relatives of Key Management Personnel : 1) Kajal V. Thakkar

2) Jolly J. Patel

3) Jyoti Jain

4) Ayushi Jain

5) Payal Paulin Shah

d) Enterprise over which Key Management Personnel and their relative exercise significant influence with whom transaction have taken place during the year :

Note 39 Management expects that the entire transaction price alloted to the unsatisfied contract as at the end of the reporting period will be recognised as revenue during the next financial year.

Note 40 Segment Reporting

Transition to Ind-AS

These standalone financial statements for the year ended March 31, 2023 have been prepared in accordance with Ind AS. For the purposes of transition to Ind AS, the Company has followed the guidance prescribed in Ind AS 101, First-Time Adoption of Indian Accounting Standards, with April 1, 2021 as the transition date and IGAAP as the previous GAAP.

Accordingly, the Company has prepared financial statements which comply with Ind AS applicable for periods ending on March 31, 2023, together with the comparative period data as at and for the year ended March 31, 2022, as described in the summary of accounting policies. The Company has prepared the opening balance sheet as per Ind AS as on April 1, 2021 (the transition date)

- by recognising all assets and liabilities whose recognition is required by Ind AS,

- not recognising items of assets or liabilities which are not permitted by Ind AS,

- by reclassifying items from previous GAAP to Ind AS as required under Ind AS, and

- applying Ind AS in measurement of recognized assets and liabilities.

An explanation of how the transition from previous GAAP to Ind AS has affected the Company''s Balance sheet, Statement of Profit and Loss, is set out here-inafter.

However, this principle is subject to the certain mandatory exceptions and optional exemptions availed by the Company in line with principles of Ind AS 101 as detailed below:

Exemptions and exceptions availed I Optional exemptions

1 Property, Plant and Equipment (PPE) :

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets and Investment properties covered by Ind AS 40. Accordingly, the Company has elected to measure all of its property, plant and equipment; intangible assets and investment properties at their previous GAAP carrying value.

2 Accounting for equity instruments:

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS.

The Company has elected to apply this exemption for its investment in equity instruments.

3 Investments in Associates:

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its investments in subsidiaries, associates and joint ventures, as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that value as its deemed cost as at the date of transition. Accordingly the company has considered the Previous GAAP carrying amount of Investments in associates as deemed cost as at the transition date.

II Mandatory Exceptions

1 Estimates

The estimates as at April 1, 2021 and as at March 31, 2022 are consistent with those made for the same dates in accordance with the Indian GAAP (after adjustments to reflect any differences in accounting policies) apart from the impairment of financial assets based on the risk exposure and application of ECL model where application of Indian GAAP did not require any estimation.

The estimates used by the Company to present these amounts in accordance with Ind AS, reflect conditions at April 1, 2021, the date of transition to Ind AS and as at March 31, 2022.

2 Classification and measurement of financial assets

Ind AS 101 provides exemptions to certain classification and measurement requirements of financial assets under Ind AS 109, where these are impracticable to implement. Classification and measurement is done on the basis of facts and circumstances existing as on the transition date. Accordingly, the Company has determined the classification of financial assets based on facts and circumstances that exist on the transition date.

Explanations for Material Ind-AS Adjustments:

A Measurement Adjustments:

1 Change in fair value of non-current investments classified through FVTOCI

Under previous GAAP, the long-term investments were measured at cost less permanent diminution in value, if any. Ind AS requires all investments to be measured at fair value at the reporting date and all changes in the fair value subsequent to the transition date to be recognised either in the Statement of profit and loss or Other Comprehensive Income based on the category in which they are classified. Details of such classification are stated as under:

1. Investment in Associates: Amortised Cost (availing exemption given under Ind-AS 101 as stated above),

2. Investment in Other Entities: Fair Value through Other Comprehensive Income.

Accordingly, at each reporting date, the company has adjusted change in fair value of investments in other entities in "Other Comprehensive Income". The impact of tax on the same is also adjusted to "Other Comprehensive Income" only.

2 Change in fair value of current investments classified through FVTPL

Under previous GAAP, the company accounted for short term investments in mutual funds as investment measured at cost. As per Ind AS, investments in liquid mutual funds have been revalued at fair value classified as fair value through profit and loss. Accordingly the resulting fair value changes of these investments have been recognised in profit and loss.

3 Provision of Expected Credit Loss and impairment loss on trade receivable

Under previous GAAP, provisions were made for specific receivables if collection was doubtful. Under Ind AS 109, the Company has applied expected credit loss model for recognising impairment of financial assets. Under expected credit loss model, the company has adopted simplified approach (provision is made on the basis of provision matrix).

The company has recognised the amount of expected credit losses (or reversal) in statement of profit or loss, that is required to adjust the closing balances of loss allowance at the reporting date.

4 Deferred Tax Adjustments:

Tax adjustments include deferrred tax impact on account of timing differences between previous GAAP and Ind AS which mainly includes following:

i. Expected credit loss allowance,

ii. Employee benefit obligations,

iii. Fair Value changes in investments (Both FVTPL and FVTOCI).

iv. Property, Plant and Equipments

5 Remeasurement of post employment benefit obligations

As per Ind AS, net actuarial (gain)/ loss on employee defined benefit obligations (i.e. Gratuity Plan) have been disclosed under "Other Comprehensive Income" (OCI), which was being debited to statement of profit and loss under previous GAAP. The impact of tax on the same is also adjusted to "Other Comprehensive Income" only.

3 Financial risk management objectives

The Company''s Corporate finance department provides services to business, co-ordinates access to domestic and international financial markets, monitors and manages the financial risks relating to the operations of the Company through internal risk reports which analyse the exposures by degree and magnitude of risks. These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

4 Market risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates due to variable interest loans. . The Company does not enter into derivative contracts to manage risks related to anticipated sales and purchases.

5 Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters utilizing forward foreign exchange contracts and currency options taken at the time of initiation of the booking by the management. Such decision is taken after considering the factors such as upside potential, cost of structure and the downside risks etc. Quarterly reports are submitted to Management Committee on the covered and open positions and MTM valuation.

The carrying amounts of the Company''s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows.

There are no such transactions during the reporting period

5.1 Foreign currency sensitivity analysis

The Company is not materially exposed to USD and EURO currency or any other foreign currencies.

6 Interest rate risk management

The Company is exposed to interest rate risk because funds are borrowed at both fixed and floating interest rates. Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rate. The Company has exposure to interest rate risk, arising principally on changes in interest rates. The Company uses a mix of interest rate sensitive financial instruments to manage the liquidity and fund requirements for its day to day operations like long term and short term loans. The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring the most cost-effective hedging strategies are applied.

The table in 6.1 provides a break-up of the Company''s fixed and floating rate borrowings:

6.1 Interest rate sensitivity analysis

The sensitivity analyses below have been determined based on the exposure to interest rates for both derivatives and non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management''s assessment of the reasonably possible change in interest rates.

7 Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses publicly available financial information and its own trading records to rate its major customers. The Company''s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties.

Trade receivables consist of a large number of customers, spread across diverse geographical areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable.

The Company does not have significant credit risk exposure to any single counterparty. Concentration of credit risk related to the above mentioned company did not exceed 10% of gross monetary assets at any time during the year. Concentration of credit risk to any other counterparty did not exceed 10% of gross monetary assets at any time during the year.

7.1 Collateral held as security and other credit enhancements

The Company does not hold any collateral or other credit enhancements to cover its credit risk associated with its financial assets.

8 Liquidity risk management

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Disclosure as per Ind AS 113 - Fair Value Measurements

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in an orderly transaction in the principal (or most advantageous) market at measurement date under the current market condition regardless of whether that price is directly observable or estimated using other valuation techniques.

The Company has established the following fair value hierarchy that categorizes the values into 3 levels. The inputs to valuation techniques used to measure fair value of financial instruments are:

Level 1- Level 1 hierarchy includes financial instruments measured using quoted prices. This Includes listed equity instruments that have quoted price. Listed and actively traded equity instruments are stated at the last quoted closing price on the National Stock Exchange of India Limited (NSE).

Level 2- The fair value of financial instruments that are not traded in active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3- If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. The fair value of the financial assets and liabilities included in Level 3 is determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer quotes of similar instruments.

Valuation Techniques used to determine fair values:

A) Specific valuation technique is used to determine the fair value of the financial instruments which include:

i) For financial instruments other than (ii):- In accordance with generally accepted pricing models based on Net Asset Value analysis using prices from observable market transactions and dealer quotes of similar instruments.

ii) For financial liabilities (domestic currency loans) :- appropriate market borrowing rate of the entity as of each balance sheet date used.

Note 48 No proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.

Note 49 Disclosure with respect to borrowings from banks or financial institutions on the basis of security of current assets:

(a) The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts.

Note 50 The company is not declared as a wilful defaulter by any bank or financial institution or other lender.

Note 51 The company is having having following relationship with companies struck off under section 248 of the Companies Act, 2013

or section 560 of Companies Act, 1956:

Note 52 There has not been any delay in registering the charges or satisfaction with Registrar of Companies beyond the statutory period.

Note 53 The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017

Note 54 The company has not undergone through any Scheme of Arrangements that has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013

Note 55 There are no transactions which are not recorded in the books of accounts and that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

Note 56 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

Note 57 Balances of Secured Loans, unsecured loans, Debtors, Creditors for goods, creditors for expenses, loans and advances and advance from customers are subject to confirmation.

Note 58 The company has credited Rs.1,901.51 Lakhs (previous year Rs.1,552.64 Lakhs) to its revenue in profit and loss statement as Accrued revenue, whose services are already rendered but invoices are made after the balance sheet date but before the reporting date. Such treatment is given as per the various agreement/contracts with client which requires the company to raise invoice in the following month of completion of services. Hence, the company has not made provision for GST liability over the same as on balance sheet date, but company has accounted for the GST liability on such revenue as and when the invoices are generated before the reporting date.

Note 59 Previous year figures are regrouped and rearranged wherever necessary to compare with Current Period figures.

Note 60 Figures are rounded off to the nearest rupee.

The financial statements are approved by the audit committee as at its meeting and by the Board of Directors on 29.05.2023

Signatories to Note 1 to 60

For PRIYAM R SHAH & ASSOCIATES For SILVER TOUCH TECHNOLOGIES LIMITED

CHARTERED ACCOUNTANTS

Firm Reg. No. : 118421W

CA Mitesh M Nagar Vipul Thakkar Jignesh Patel

PARTNER Chairman & Managing Director Director

M.No. 173787 DIN - 00169558 DIN - 00170562

UDIN:23173787BGWFKP9415

Ahmedabad

29-05-2023

Vishnu Thaker Paulin Shah

Company Secretary CFO

ACS - 60441 PAN - ALLPS0814L

Mar 31, 2021

Note 24 Capital Commitments

The estimated amount of contracts remaining to be executed on capital account and not provided for Rs Nil. (Previous year Rs Nil).

Note 25	Contingent Liabilities
There are contingent liability of the company as under:			(Amount in Rs)
	Bank Guarantee	Current Year	Previous Year
	Bank of India	25,55,77,409	29,84,38,468
	Yes Bank	10,15,31,042	9,78,69,693
	ICICI Bank	-	1,16,005

The above bank guarantees are issued by Bank of India against 10%/15%/25% & 30% margin based on period and ICICI bank against 100% margin in the form of Bank FD & 10% margin in the form of FD for bank guarantee issued by Yes Bank.

Note 26 Pursuant to Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts.

Note 30 The company has during the Year provided depreciation on fixed assets based on estimated life and realizable value as prescribed in Schedule II of the Companies Act, 2013.

As per provision of Schedule II of Companies Act, 2013 depreciation is charged on revalued amount in case of above fixed assets which were revalued in past and same is charged against Current Period''s profit. Upto FY 2013-14, depreciation on revaluation amount is charged against revaluation reserve and depreciation on historical cost is charged against profit for the Year under review.

Note 34 Impairment of Fixed Assets

Note 36 Segment Reporting

The company''s Business Segment is ''Computers & IT Services'' and it has no other primary reportable segments. Geographical revenues are segregated based on the location of the customer who is invoiced or in relation to which the revenue is otherwise recognized. Customer relationships are driven based on the location of the respective clients. Company''s business activities outside India are spread mainly in United Kingdom, USA, Australia & France. Hence, there are two reportable segment of company viz., Domestic & Exports.

i) The company has disclosed Geographical Segments as the primary segment.

Note 37 Employee Retirement Benefits

In order to make provision for Gratuity payable to employees, company has obtained Acturial Valuation report from M/s. K A Pandit, ''Actuaries''. On the basis of valuation report of Actuaries, company has made provision for Gratuity Payable in accounts. However, no investments made to meet liability in future. Company charge the addition in liability of Gratuity payable to Statement of Profit & Loss.

The following table sets out unfunded status of the gratuity payable and the amounts recognized in the Company''s financial statements for the period ended March 31,2021.

Note 39 Balances of Secured Loans, unsecured loans, Debtors, Creditors for goods, creditors for expenses, loans and advances and advance from customers are subject to confirmation.

Note 40 The spread of Covid-19 from mid-March is having an unprecedented impact on people and economy. This has also adversely impacted company''s operations and results for the year ended March 31, 2021.

In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company, as at the date of approval of these financial statements has used internal and external sources of information. The Company based on current estimates expects no effect on carrying amount of assets and liabilities.

However, the impact of COVID-19 remains uncertain and may be different from what we have estimated as of the date of approval of these financial statements and the Company will continue to closely monitor any material changes to future economic conditions.

Note 41 The company has credited Rs.18,84,50,376/- (previous year Rs.19,01,76,715/-)to its revenue in profit and loss statement as Accrued revenue, whose services are already rendered but invoices are made after the balance sheet date but before the reporting date. Such treatment is given as per the various agreement/contracts with client which requires the companyto raise invoice in the following month of completion of services. Hence, the company has not made provision for GST liability over the same as on balance sheet date, but company has accounted for the GST liability on such revenue as and when the invoices are generated before the reporting date.

Note 42 Previous year figures are regrouped and rearranged wherever necessary to compare with Current Period figures.

Note 43 Figures are rounded off to the nearest rupee.

Mar 31, 2018

Note 25 Capital Commitments

The estimated amount of contracts remaining to be executed on capital account and not provided for Rs Nil. (previous year Rs Nil). Note 26 Contingent Liabilities

a)There are contingent liability of the company as under: (in Rs.)

Bank Guarantee	Current Period	Previous Year
Bank of India	28,05,32,602	15,88,98,751
IDBI Bank	-	44,13,521
ICICI Bank	59,47,731	1,50,78,192

The above bank guarantees are issued by Bank of India against 10%/15%/25%& 30% margin based on period and ICICI bank against 15% margin in the form of Bank FD & 100% margin for bank gurantee issued by IDBI Bank.

b) Income tax Demand : (in ?)

Particulars	Current Period	Previous Year
U/s 143(3) (AY 2010-11) - Pending with ITAT	1,31,62,920	1,31,62,920
U/s 143(3) (AY 2013-14) - Pending with CIT(A)	-	93,917
U/s 143(3) (AY 2014-15)- Pending with CIT(A)	97,627	97,627

Note 27 Pursuant to Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts. Note 28 Auditor''s Remuneration

	Current Period	Previous Year
Statutory Auditors
- As Auditors	2,50,000	2,50,000
- Tax Audit Matters	-	-
- Taxation Matters	-	-
- Company Law Matters	-	-
- Others	29,340	37,500
Total	2,79,340	2,87,500

Note 29 Earning per share as required by Accounting Standard AS-20 as issued by the The Institute of Chartered Accountants of India.

Description	Current Period	Previous Year
Profit After Tax (?)	8,54,58,065	4,20,88,915
Profit Attributable to Ordinary Share Holders (?)	8,54,58,065	4,20,88,915
Weighted Average No. of Equity Shares	1,21,26,667	55,95,000
Basic & Diluted Earning Per Share (Rs)*	7.05	3.76
Nominal Value of share (?)	10.00	10.00

* The company has no dilutive instruments during the Year ended 31 /03/2018. As such Dilutive Earning Per share equals to Basic Earnings Per Share.

Note 30 In compliance with the accounting standard-22 relating to "Accounting for taxes on Income" the deferred

tax liability of Current Period is debited to Profit & Loss Account. Deferred tax working: (in Rs)

Particulars	As on 01/04/2017	Charge/ (Credit) during the Year to P&L A/c	As on 31/03/2018
Deferred tax (Assets) / Liabilities on account of depreciation	80,90,262	11,60,891	92,51,152
Deferred tax (Assets) / Liabilities on account of Gratuity,etc	.	(2,57,684)	(2,57,684)
Net Deferred tax (Assets)/ liabilities	80,90,262	9,03,207	89,93,468

Note 31 The company has during the Year provided depreciation on fixed assets based on estimated life and realisable value as prescribed in Schedule II of the Companies Act, 2013.

Company has been awarded construction, and maintenance of automated Driving Test Track project by Govt. of Gujarat. Since, project is of 5 years, company has taken useful life of computers etc. as 5 years instead of 3 years life as prescribed under Schedule II of Companies Act, 2003.

Note 32 Other Non Current Asset - Cost of Facility - UTWAN Project

Company has been awarded project for implementating Wide Area Network by Govt. of Diu & Daman (UT) under BOOT Scheme. Under the said project, company is required to implement and maintain UTWAN for a period of 5 years. Company has purchased some network equipments, computers and other related equipments and machineries by entering into Finance Lease transaction with CISCO. And some equipments company obtained by way raising loans. At the end of 5 years, company need to transfer whole UTWAN to government authorities. Accordingly, all the assets purchased under the said project is capitalized under ''Cost of Facility - UTWAN Project1 under the head Other Non Current Assets in Balance Sheet. As the said project is of 5 years income of company is spread over period of 5 years, and accordingly comapny wil amortize the same over period of 5 years in equal installments. During the period under review, realisation of income from said project is contingent. And hence, expenses related to said project is capiatalised under ''Cost of Facility - UTWAN Project''.

Note 33 Related party disclosure as required by Accounting Standard -18 issued by the Institute of Chartered Accountants of India.

A)	List Of Related parties & Relationships
	a) Subsidiaries, Fellow Subsidiaries, and Associates
	a) Subsidiaries :	1 ) Silver-touch Technology (UK) Ltd
		2) Silvertouch Technologies Inc.
		3) Lime Software (UK)
		4) Start-N-Excel
	b) Fellow Subsidiary :	None
	c) Associates :	1) Shark Identity Pvt Ltd
		2) Silvertouch Technologies SAS
b)	Key Management Personnel :	1) Vipul H. Thakkar
		2) Minesh V. Doshi
		3) Jignesh A. Patel

	4) Palak V.Shah
	5) Himanshu Jain
	6) Vijay Shah
c) Relatives of Key Management Personnel :	1) Kajal V. Thakkar
	2) Jolly J.Patel
	3) Zankhana Shah
	4) Varsha Doshi
	5) Haridas Thakkar
	6) Jyoti Jain
	7) Ayushi Jain
	8) Manjulaben Patel
	9) Amrutlal K. Patel
	10) Hem Shah
d) Enterprise over which Key Management Personnel and their relative exercise significant influence with whom transaction have taken place during the year :	1) Silvertouch I nfotech Limited

B) Transaction with related parties

Description	Subsidiaries, Fellow Subsidiaries, and Associates		Key Management Personnel		Relatives of Key Management Personnel		Enterprises Controlled by Key management Personnel and their relatives
Description	Current Period	Previous Year	Current Period	Previous Year	Current Period	Previous Year	Current Period	Previous Year
Purchase of Goods/ Services	-	.	-	.	-	.	8,80,765	12,36,113
Sales of Goods / Services	2,25,49,225	1,85,99,725	_	_	_	_	_	_
(Purchase)/ Sales of Assets	_	_	_	_	_	_	_	_
Rent & other Expenses Received/ (paid)	(8,46,639)				(28,688)
Interest Received/ (Paid)	_	_	(28,16,350)	(33,34,126)	_	_	_	_
Dividend Received / (paid)	_	9,55,740	_	(24,88,250)	_	(3,09,250)	_	_
Remunerations	-	-	1,97,93,340	1,70,40,000	13,80,000	12,60,000	-	-
Hire Charges paid	-	-	-	-	-	-	-	-
Lease Rent (Paid) / Received	-	-	-	-	(4,20,000)	(4,20,000)	1,74,000	1,74,000

Outstanding Balance at the year end								(in Rs.)
Loans & Advance (incl. interest)	4,59,615	50,149					65,98,791	64,14,032
Deposit Received	-	-	1,10,79,039	1,12,88,980	-		-	-
Debtors	1,79,39,407	1,03,45,325	-	-	-		15,22,017	27,47,208
Creditors			12,54,690	10,62,000	1,43,288	98,600	66,04,078	80,09,164

Note 34 Additional information pursuant to the provisions of Schedule III to the Companies Act, 2013:

(Amount in

	Particulars	Current Period	Previous Year
A	Expenditure in Foreign currency on account of
	i) Foreign Traveling	13,93,534	21,13,485
	ii) Exhibition/ Promotion Expense	Nil	4,51,466
	iii) Salary	Nil	Nil
B	Value of imported raw materials, spare parts and components	4,27,95,530	7,44,968
C	Amount remitted in foreign currency during the year
	i) Dividend	Nil	Nil
	ii) No. of non-resident share holders	Nil	Nil
	iii) No. of shares held by non-residents	Nil	Nil
D	Earning in Foreign Exchange
	i) Export of Services	6,70,41,477	7,82,72,722
	ii) Others	1,86,735	9,55,740

Note 35 Revaluation Of Fixed Assets:

Sr No	Detail of Fixed Assets	Historical Cost	Net WDV as on 31.03.2011 before Revaluation	Substituted /Revalued Amount
1	Office Building 210	5,00,500	4,03,851	15,50,000
2	Office Building Semaphore	80,669	71,468	14,55,000
3	Office Building -1	4,33,700	3,22,135	43,75,000
4	Office Building Saffron	91,43,774	86,42,613	3,55,00,000
5	Office Building 505 Saffron	16,57,246	16,14,906	42,40,000
6	Godown Building	5,13,980	4,54,416	52,00,000

Note 36 Impairment of Fixed Assets

Particulars	Current Period	Previous Year
1 ) Sale of Computers "Computer Parts, License, Software etc.	82,89,39,565	59,37,17,953
2) Sale of Services" Software Development, AMC Charges & Other Services	81,11,36,525	59,20,10,299
3) Other Operating Revenue	2,00,220	3,44,075
Total Revenue from Operations	1,64,02,76,310	1,18,60,72,327

Note 38 Segment Reporting

The company''s Business Segment is ''Computers & IT Services'' and it has no other primary reportable segments. Geographical revenues are segregated based on the location of the customer who is invoiced or in relation to which the revenue is otherwise recognized. Customer relationships are driven based on the location of the respective clients. Company''s business activities outside India are spread mainly in United Kingdom, USA, Australia & France . Hence, there are two reportable segment of company viz., Domestic & Exports. (A)Primary Disclosures (Geographical by Customers)

	Geographical Segments		TOTAL
Particulars	India	Outside India	TOTAL
Revenue	1,57,32,34,833	6,70,41,477	1,64,02,76,310
	(1,10,77,99,606)	(7,82,72,722)	(1,18,60,72,327)
Result	18,01,68,132	1,35,84,135	19,37,52,266
	(9,02,13,222)	(1,00,22,596)	(10,02,35,818)
Unallocable Expenses			6,47,19,486
			(5,16,68,424)
Other Income			92,69,738
			(1,26,63,012)
Profit Before Tax			13,83,02,519
			(6,12,30,406)
Tax Expense			5,28,44,454
			(1,91,41,491)
Profit for the year			8,54,58,065
			(4,20,88,915)
Segment Assets	98,85,54,426	11,07,79,016	1,09,93,33,442
	(58,36,15,901)	(10,08,38,986)	(68,44,54,887)
Unallocated Assets			6,11,74,022
			(6,43,15,561)
TOTAL Assets			1,16,05,07,464
			(74,87,70,448)
Segment Liabilities	1,09,18,13,954	75,00,041	1,09,93,13,995
	(71,14,36,041)	(1,11,44,146)	(72,25,80,187)
Unallocated Liabilities			6,11,93,468
			(2,61,90,262)
TOTAL Liablities			1,16,05,07,464
			(74,87,70,448)

* Figures in brackets in Italics font indicates previous years'' figures. i) The company has disclosed Geographical Segments as the primary segment. ii) Segments have been identified taking into account the nature of the products, differential risks and returns, the organizational structure and internal reporting system. The company''s operations predominantly relate to Computer & IT Services. Note 39 Employee Retirement Benefits

In order to make provision for Gratuity payable to employees, company has obtained Acturial Valuation report from M/s. KA Pandit, ''Actuaries''. On the basis of valuation report of Actuaries, company has made provision for Gratuity Payable in accounts. However, no investments made to meet liabilty in future.

Company charge the addition in liability of Gratuity payable to Statement of Profit & Loss.

The following table sets out unfunded status of the gratuity payable and the amounts recognised in the

Company''s financial statements for the period ended March 31, 2018.

(i) Change in Benefit Obligations:

Particulars	(Amount in Rs.)	(Amount in Rs.)
Present value of benefit obligation, beginning of the Year	1,64,33,405	1,84,33,913
Service cost	33,84,198	31,09,414
Interest cost	11,93,065	14,48,906
Benefits paid	(10,79,472)	(15,05,123)
Actuarial (Gains) /Losses on Obligations - Due to Change in Financial Assumptions	(17,40,556)	14,75,511
Actuarial (Gains) /Losses on Obligations - Due to Experience	(10,12,699)	(65,29,216)
Present value of benefit obligation, end of the year	1,71,77,941	1,64,33,405

(ii) Change in Plan Assets :

Particulars	(Amount in Rs.)	(Amount in Rs.)
Fair value of plan assets, beginning of the year	-	-
Expected return on plan assets	-	-
Employers'' contributions	-	-
Benefits paid	-	-
Fair value of plan assets, end of the year	-	-

(iii) Net Gratuity Cost:

Particulars	(Amount in Rs.)	(Amount in Rs)
Service Cost	33,84,198	31,09,414
Interest Cost	11,93,065	14,48,906
Expected Return on Plan Asset
Acturial (gain)/loss	(27,53,255)	(50,53,705)
Net Gratuity Cost	18,24,008	(4,95,385)

(iv) Reconciliation of Present Value of the obligation and the fair value of the Plan Assets :

Particulars	(Amount in Rs.)	(Amount in Rs.)
Fair value of plan assets, at the end of the year	-	-
Present value of obligation at the end of the year	(1,71,77,941)	(1,64,33,405)
Re-imbursement Obligation	-	-
Asset/(Liability) Recognised in the Balance Sheet	(1,71,77,941)	(1,64,33,405)

(v) Assumptions:

Particulars	%	%
Rate of Discounting	7.88%	7.26%
Salary Escalation Rate	7.50%	7.50%
Expected Rate of Return on Plan Asset	N.A.	N.A.

Note 40 Obligation towards Finance Lease :

The Lease rentals capitalized during the year & was charged during previous year and the future minimum rental payments in respect of finance lease and its present value are set out below:

Particulars	Current Period	Previous Year
(i ) Lease rentals recognised during the year	-	30,88,210
(ii) Minimum Lease Payments
Not later than one year	99,26,245	1,22,03,848
Later than one year but not later than five years	-	99,26,245
Later than five years	-	-
Total	99,26,245	2,21,30,093
(iii) Present Value of minimum lease payments
Not later than one year	83,59,021	1,02,77,017
Later than one year but not later than five years	-	93,08,758
Later than five years	-	-
	83,59,021	1,95,85,775
Add : Future Finance Charges	15,67,224	25,44,318
Total	99,26,245	2,21,30,093

Note 41 Expenditure on Corporate Social Responsibility

Particulars	Current Period	Previous Year
a) Gross Amount required to be spent	9,37,743	11,25,150
b) Amount actually spent on:	-
Promoting Education	14,419	-
c) Provision made for CSR Expenditure	9,35,581	11,30,000

During the FY 2017-18, commpany has spent Rs. 11,30,000/- towards CSR expenditure pertaining to previous year provision & for current year company has spent Rs 14,419/- towrds current year liability of Rs. 9,50,000/-. Note 42 Share Based Payments

Employee Stock Option Plan 2017

The scheme has been adopted by the Board of Directors pursuant to resolution passed at its meeting held on 06th April, 2017 read with Special Resolution passed by shareholder of the company at the Extraordinary general meeting held on 27th April, 2017. The Said Scheme was also ratified by the Shareholders in the Extra Ordinary General Meeting held on 05th March, 2018 pursuant to the provision of Regulation of SEBI (Share Based Employee Benefit) Regulations, 2014.

The plan entitles the senior employees to purchase shares in the Company at the stipulated exercise price, subject to compliance with vesting conditions. As per the plan, holders of vested options are entitled to purchase one equity share for every option at an exercise price of Rs. 50/- Per Share. Since the Exercise prices is more than the Book Value of the Shares, no provision for expenses of Employees has

been done in the relevant financial year.

The terms and conditions related to the grant of the share options are as follows:

Scheme	ESOP 2017
Date of grant	15th May, 2017
Number of options granted during the year	90000
Exercise price per option	Rs. 50/-
Vesting Period	One Year From the date of Grant
Exercise period	Within Three Month	from Vesting

The following table sets forth a summary of the activity of options:

Particulars	F.Y 2017-18	F.Y 2016-17
Scheme	ESOP 2017	-
Options outstanding at the beginning of the year	-	-
Granted during the year	90,000	-
Exercised during the year	-	-
lapse during the year	(1,000)	-
Outstanding at the end of the year	89,000	-
Exercisable at the end of the year	89,000	-

Note 43 Balances of Secured Loans, unsecured loans, Debtors, Creditors for goods, creditors for expenses, loans and advances and advance from customers are subject to confirmation. Note 44 Previous year figures are regrouped and rearranged wherever necessary to compare with Current Period figures. Note 45 Figures are rounded off to the nearest rupee.

Signatories to Note 1 to 45	For SILVER TOUCH TECHNOLOGIES LIMITED
For PRIYAM R SHAH & ASSOCIATES
CHARTERED ACCOUNTANTS	Vipul Thakkar	Jignesh Patel
Firm Reg. No. : 118421W	Chairman & Managing Director	Director
	DIN -00169558	DIN -00170562
CA Mitesh M Nagar
PARTNER
M.No. 173787	Dipesh Solanki	Palak Shah
	Company Secretary	CFO cum Director
Ahmedabad		DIN - 00306082
25/05/2018

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