xii) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past
event, it is probable that the Company will be required to settle the obligation, and a reliable estimate can be made
of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the
obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If
it is no longer probable that an outflow of resources would be required to settle the obligation, the provision is
reversed.

Warranties

The estimated liability for product warranties is recorded when products are sold. These estimates are established
using historical information on the nature, frequency and average cost of warranty claims and management
estimates regarding possible future incidence based on corrective actions on product failures. The timing of
outflows will vary as and when warranty claim will arise- being typically two to five years. The estimate of such
warranty-related costs is revised annually.

xiii) Contingent liabilities

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the Company or a present obligation that arises from past events where it is either
not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be
made.

xiv) Contingent assets

Contingent assets are disclosed in the financial statements only when an inflow of economic benefits is probable.

xv) Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual
provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately
in the Statement of Profit and Loss.

a) Financial assets

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair
value, depending on the classification of the financial assets

Classification of financial assets

Debt instruments that meet the following conditions are subsequently measured at amortised cost (except
for debt instruments that are designated as at fair value through profit or loss on initial recognition):

• the asset is held within a business model whose objective is to hold assets in order to collect
contractual cash flows; and

• the contractual terms of the instrument give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding

Debt instruments that meet the following conditions are subsequently measured at fair value through other
comprehensive income ("FVTOQ") (except for debt instruments that are designated as at fair value through
profit or loss on initial recognition):

• the asset is held within a business model whose objective is achieved both by collecting contractual
cash flows and selling financial assets; and

• the contractual terms of the instrument give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

Interest income is recognised in profit or loss for FVTOCI debt instruments.

All other financial assets are subsequently measured at fair value.

Trade receivables that do not contain a significant financing component are measured at transaction price.
Effective interest method

The effective interest method is a method of calculating the amortised cost of a debt instrument and of
allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts
estimated future cash receipts (including all fees and points paid or received that form an integral part of the
effective interest rate, transaction costs and other premiums or discounts) through the expected life of the
debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.

Income is recognised on an effective interest basis for debt instruments other than those financial assets
classified as at FVTPL. Interest income is recognised in the Statement of Profit and Loss and is included in the
"Other income" line item.

Financial assets at fair value through profit or loss (FVTPL)

Investments in equity instruments are classified as at FVTPL, unless the Company irrevocably elects on initial
recognition to present subsequent changes in fair value in other comprehensive income for investments in
equity instruments which are not held for trading.

Debt instruments that do not meet the amortised cost criteria or FVTOCI criteria are measured at FVTPL. In
addition, debt instruments that meet the amortised cost criteria or the FVTOCI criteria but are designated as
at FVTPL are measured at FVTPL.

A financial asset that meets the amortised cost criteria or debt instruments that meet the FVTOCI criteria may
be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a
measurement or recognition inconsistency that would arise from measuring assets or liabilities or recognising
the gains and losses on them on different bases.

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses
arising on re-measurement recognised in the Statement of Profit and Loss. The net gain or loss recognised in
Statement of Profit and Loss incorporates any dividend or interest earned on the financial asset and is included
in the 'Other income' line item. Dividend on financial assets at FVTPL is recognised when the Company's right
to receive the dividends is established, it is probable that the economic benefits associated with the dividend
will flow to the entity, the dividend does not represent a recovery of part of cost of the investment and the
amount of dividend can be measured reliably.

Impairment of financial assets

The Company applies the expected credit loss model for recognising impairment loss on financial assets
measured at amortised cost, debt instruments at FVTOCI, trade receivables, other contractual rights to receive
cash or other financial asset, and financial guarantees not designated as at FVTPL.

Expected credit losses are the weighted average of credit losses with the respective risks of default occurring
as the weights.

De-recognition of financial assets

The Company de-recognises a financial asset when the contractual rights to the cash flows from the asset
expires, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the
asset to another party.

b) Financial liabilities and equity instruments

Classification as debt or equity

Debt and equity instruments issued by Company are classified as either financial liabilities or as' equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and
an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting
all of its liabilities.

Financial liabilities

Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortised
cost at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are
subsequently measured at amortised cost are determined based on the effective interest method. Interest
expense that is not capitalised as part of costs of an asset is included in the 'Finance costs' Line item.

The effective interest method is a method of calculating the amortised cost of a financial liability and of
allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts
estimated future cash payments (including all fees and points paid or received that form an integral part of
the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the
financial liability.

All financial liabilities are subsequently measured at amortised cost using the effective interest method or at
FVTPL.

De-recognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company's obligations are
discharged, cancelled or have expired.

c) Derivative financial instruments

The Company enters into a variety of derivative financial instruments to manage its exposure to foreign
exchange rate risks, including foreign exchange forward contracts, option contracts, etc.

Embedded derivatives

Derivatives embedded in non-derivative host contracts that are not financial assets within the scope of Ind AS
109 are treated as separate derivatives when their risks and characteristics are not closely related to those of
the host contracts and the host contracts are not measured at FVTPL.

xvi) Equity share capital

Equity shares are classified as equity. Incremental costs directly attributable to the issuance of new shares are
recognised as a deduction from equity, net of any tax effects.

xvii) Impairment of non-financial assets

The carrying amounts of the Company's non-financial assets, other than deferred tax assets, are reviewed at the
end of each reporting period to determine whether there is any indication of impairment. If any such indication
exists, then the asset's recoverable amount is estimated.

The recoverable amount of an asset or cash-generating unit ('CGU') is the greater of its value in use or its fair
value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present
value using a pre-tax discount rate that reflects current market assessments of the time value of money and the
risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be tested individually
are grouped together into the smallest group of assets that generates cash inflows from continuing use that are
largely independent of the cash inflows of other assets or group of assets ('CGU').

The Company's corporate assets do not generate separate cash inflows. If there is an indication that a corporate
asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate asset
belongs.

An impairment loss is recognised, if the carrying amount of an asset or its cash-generating unit exceeds its
estimated recoverable amount and are recognised in Statement of Profit and Loss. Impairment losses recognised
in respect of cash-generating units are allocated first to reduce the carrying amount of goodwill, if any, allocated
to the units and then to reduce the carrying amounts of the other assets in the unit on a pro rata basis.'

Impairment losses recognised in prior periods are assessed at end of each reporting period for any indications that
the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates
used to determine the recoverable a mount. An impairment loss is reversed only to the extent that the asset's
carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or
amortisation, if no impairment loss had been recognised.

xviii) Employee benefits

Short Term Employee benefits

All employee benefits expected to be settled wholly within twelve months of rendering the service are classified
as short-term employee benefits. When an employee has rendered service to the Company during an accounting
period, the Company recognises the undiscounted amount of short-term employee benefits expected to be paid
in exchange for that service as an expense unless another Ind AS requires or permits the inclusion of the benefits
in the cost of an asset. Benefits such as salaries, wages and short-term compensated absences and bonus etc. are
recognised in Statement of Profit and Loss in the period in which the employee renders the related service.

Defined Contribution Plan

Provident fund and superannuation fund

A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions
into a separate entity and has no obligation to pay any further amounts. The Company makes specified monthly
contributions towards provident fund and superannuation fund which are defined contribution plans.The Company
has no obligation, other than the contribution payable to the funds. The Company recognises contribution payable
to the fund in the Statement of Profit and Loss, when an employee renders the related service. If the contribution
payable to the scheme for service received before the balance sheet date exceeds the contribution already paid,
the deficit payable to the scheme is recognised as a liability after deducting the contribution already paid. If the
contribution already paid exceeds the contribution due for services received before the balance sheet date, then
excess is recognised as an asset to the extent that the prepayment will lead to, for example, a reduction in future
payment or a cash refund.

Long term Employee benefits Defined Benefit Plan
Gratuity

The Company's gratuity benefit scheme is a defined benefit plan. The Company's net obligation in respect of
defined benefit plan is calculated by estimating the amount of future benefit that employees have earned in
return for their service in the current and prior periods; this benefit is discounted to determine its present value.
Any unrecognised past service costs and the fair value of any plan assets are deducted. The calculation of the
Company's obligation under this plan is performed annually by a qualified actuary using the projected unit credit
method.

Re-measurements comprising of actuarial gains and losses, the effect of the changes to the asset ceiling (if
applicable) and the return on plan assets (excluding amounts included in net interest on the net defined benefit
liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings
through other comprehensive income in the period in which they occur. Re-measurements are not reclassified to
profit or loss in subsequent periods.

All other expenses related to defined benefit plans are recognised in the Statement of Profit and Loss as employee
benefit expenses. Gains or losses on the curtailment or settlement of any defined benefit plan are recognised
when the curtailment or settlement occurs. Curtailment gains and losses are accounted for as past service costs.

Compensated absences

The employees can carry forward a portion of the unutilized accrued compensated absences and utilise it in future
service periods or receive cash compensation during termination of employment.

Compensated absence, which is expected to be utilized within the next 12 months, is treated as short-term
employee benefit. The Company measures the expected cost of such absences as the additional amount that it
expects to pay as a result of the unused entitlement that has accumulated at the reporting date. The Company
treats compensated absences expected to be carried forward beyond twelve months, as long-term employee
benefit for measurement purposes. Such long-term compensated absences are provided for based on the actuarial
valuation using the projected unit credit method at the year-end. Actuarial gains/losses are immediately taken to
the Statement of Profit and Loss.

xix) Taxes

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax' as
reported in the Statement of Profit and Loss because of items of income or expense that are taxable or deductible
in other years and items that are never taxable or deductible. The Company's current tax is calculated using tax
rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in
the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred
tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally
recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilised.

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

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount
of its assets and liabilities.

Current and deferred tax for the year

Current and deferred tax are recognised in the Statement of Profit and Loss, except when they relate to items that
are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are
also recognised in other comprehensive income or directly in equity respectively.

xx) Government grants

Government grants are recognised where there is reasonable assurance that the grant will be received and all
attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income
on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the
related asset.

When the Company receives grants of non-monetary assets, the asset and the grant are recorded at fair value
amounts and released to the Statement of Profit and Loss over the expected useful life in a pattern of consumption
of the benefit of the underlying asset i.e. by equal annual instalments.

xxi) Earnings per share

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

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

xxii) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at
the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the
reporting period.

xxiii) Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company accounting policies, which are described in note 2, the management of the
Company are required to make judgements, estimates and assumptions about the carrying amounts of assets and
liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based
on historical experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period
of the revision and future periods if the revision affects both current and future periods.

The following are the areas of estimation uncertainty and critical judgements that the management has made in
the process of applying the Company's accounting policies:

(a) Impairment of non-financial assets

The carrying amounts of the Company's non-financial assets, other than deferred tax assets, are reviewed
at the end of each reporting period to determine whether there is any indication of impairment. If any such
indication exists, then the asset's recoverable amount is estimated.

The recoverable amount of an asset or cash-generating unit ('CGU') is the greater of its value in use and its
fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects current market assessments of the time value of
money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets that cannot be
tested individually are grouped together into the smallest group of assets that generates cash inflows from
continuing use that are largely independent of the cash inflows of other assets or groups of assets ('CGU').

The Company's corporate assets do not generate separate cash inflows. If there is an indication that a corporate
asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate asset
belongs.

(b) Useful life of depreciable assets

Management reviews the useful lives of depreciable assets at each reporting date. As at March 31, 2025
management assessed that the useful lives represent the expected utility of the assets to the Company.
Further, there is no change in the useful lives as compared to previous year.

(c) Provisions and contingent liabilities

On an ongoing basis, the Company reviews pending cases, claims by third parties and other contingencies.
For contingent losses that are considered probable, an estimated loss is recorded as an accrual in financial
statements. Loss contingencies that are considered possible are not provided for but disclosed as Contingent
liabilities in the financial statements. Contingencies the likelihood of which is remote are not disclosed in the
financial statements.

(d) Estimation of defined employee benefits

The present value of the gratuity and compensated absence obligations are determined using actuarial
valuation. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases and
mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit
obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting
date.

The parameter most subject to change is the discount rate. In determining the appropriate discount rate for
plans operating in India, the management considers the interest rates of government bonds in currencies
consistent with the currencies of the post-employment benefit obligation. The mortality rate is based on
publicly available mortality tables for the specific countries. Those mortality tables tend to change only at
interval in response to demographic changes. Future salary increases and gratuity increases are based on
expected future inflation rates.

Further details about gratuity obligations are given in Note 28.

(e) Provision for warranty

A provision is recognised for expected warranty claims on products sold during the latest five years (including
current year) as per warranty period on respective models, based on past experience of level of repairs and
returns. Assumption used to calculate the provision for warranties are based on current sales level and current
information available about past returns based on the warranty period for all products sold.

3. APPLICABILITY OF NEW AND REVISED IND AS

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. For the year ended March 31, 2025, MCA has notified
Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions,
applicable to the Company w.e.f April 1, 2024. The Company has reviewed the new pronouncements and based on its
evaluation has determined that it does not have any impact on the financial statements.