k. Provisions and Contingent Liabilities

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

When some or all of the economic benefits required to settle a provision are expected
to be recovered from a third party, the receivable is recognized as an asset, if it is
virtually certain that reimbursement will be received and the amount of the receivable
can be measured reliably.

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).

The Company uses significant judgement to disclose 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 the obligation or a reliable estimate of
the amount cannot be made. Contingent assets are neither recognised nor disclosed in
the financial statements.

Provisions for onerous contracts are recognized when the expected benefits to be
derived by the Company from a contract are lower than the unavoidable costs of
meeting the future obligations under the contract. Provisions for onerous contracts are
measured at the present value of lower of the expected net cost of fulfilling the
contract and the expected cost of terminating the contract.

l. Employee benefits:

i) Post-employment and pension plans:

The Company participates in various employee benefit plans. Pensions and other
post-employment benefits are classified as either defined contribution plans or
defined benefit plans. Under a defined contribution plan, the Company's only
obligation is to pay a fixed amount with no obligation to pay further contributions if
the fund does not hold sufficient assets to pay all employee benefits. The related
actuarial and investment risks fall on the employee. The expenditure for defined
contribution plans is recognized as an expense during the period when the employee
provides service. Under a defined benefit plan, it is the Company's obligation to
provide agreed benefits to the employees. The related actuarial and investment risks
fall on the Company. The present value of the defined benefit obligations is
calculated by an independent actuary using the projected unit credit method.

ii) Short-term benefits:

Short-term employee benefit obligations are measured on an undiscounted basis and
are recorded as expense as the related services are provided. Liabilities for wages
and salaries including the amount expected to be paid under short-term cash bonus
or profit sharing plans, expected to be settled wholly within 12 months after the end
of the period in which the employees render the related service are recognized if the
Company has a present legal or constructive obligation to pay this amount as a result
of past service provided by the employee and the obligation can be estimated
reliably.

iii) Compensated absences:

The employees of the company are entitled to compensated absences. The employees
can carry forward a portion of the unutilized accumulating compensated absences
and utilize it in future periods or receive cash at retirement or termination of
employment. The company records an obligation for compensated absences in the
period in which the employee renders the services that increases this entitlement.

The company's liability is actuarially determined (using the Projected Unit Credit
method) at the end of each year as applicable. Actuarial losses/ gains are recognized
in the Statement of Profit and Loss in the year in which they arise.

Accumulated compensated absences, which are expected to be availed or encashed
within 12 months from the end of the year are classified under current liabilities and
balance under non-current liabilities.

iv)Share-based payments:

Selected employees of the Company receive remuneration in the form of equity
settled instruments, for rendering services over a defined vesting period. The cost of
equitysettled transactions is determined by the fair value at the date when the grant
is made using an appropriate valuation model.

The cost under employee benefits expense is recognised, together with a
corresponding change in Share Based Payment Reserves under Other Equity, over
the period in which the performance and/or service conditions are fulfilled. The
cumulative expense recognised for equity-settled transactions at each reporting date
until the vesting date reflects the extent to which the vesting period has expired and
the company's best estimate of the number of equity instruments that will ultimately
vest.

Service and non-market performance conditions are not taken into account when
determining the grant date fair value of awards, but the likelihood of the conditions
being met is assessed as part of the Company's best estimate of the number of equity
instruments that will ultimately vest.

Market performance conditions are reflected within the grant date fair value. Any
other conditions attached to an award, but without an associated service
requirement, are considered to be non-vesting conditions. Non-vesting conditions
are reflected in the fair value of an award and lead to an immediate expensing of an
award unless there are also service and/ or performance conditions.

No expense is recognised for awards that do not ultimately vest because non-market
performance and/or service conditions have not been met. Where awards include a
market or non-vesting condition, the transactions are treated as vested irrespective of
whether the market or non-vesting condition is satisfied, provided that all other
performance and/or service conditions are satisfied.

When the terms of an equity-settled award are modified, the minimum expense
recognised is the expense had the terms had not been modified, if the original terms
of the award are met. An additional expense is recognised for any modification that
increases the total fair value of the share-based payment transaction or is otherwise
beneficial to the employee as measured at the date of modification. Where an award
is cancelled by the entity or by the counterparty, any remaining element of the fair
value of the award is expensed immediately through profit or loss.

m. Foreign currency transactions

Foreign currency transactions are recorded at exchange rates prevailing on the date
of the transaction. Foreign currency denominated monetary assets and liabilities are
restated at the exchange rate prevailing on the reporting date and exchange gains
and losses arising on settlement and restatement are recognised in the statement of
profit and loss. Non-monetary assets and liabilities that are measured in terms of
historical cost in foreign currencies are not restated.

Assets and liabilities of entities with functional currency other than the functional
currency of the Company have been restated using exchange rates prevailing on the
reporting date. Statement of profit and loss of such entities has been restated using
weighted average exchange rates. Translation adjustments have been reported as
Foreign Currency Translation Reserve in the Statement of Changes in Equity through
Other Comprehensive Income.

Goodwill and fair value adjustments arising on the acquisition of a foreign operation
are treated as assets and liabilities of the foreign operation and restated at the
exchange rate prevailing at the reporting date.

n. Dividends:

Provision is made for the undistributed amounts of appropriately authorized
dividend being declared on or before the end of the reporting period.

o. Earnings per share:

The basic earnings per share is computed by dividing the net profit for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period. The number of shares used in computing diluted
earnings per share comprises the weighted average shares considered for deriving
basic earnings per share and also the weighted average number of equity shares
which would have been issued on the conversion of all dilutive potential equity
shares. Dilutive potential equity shares are deemed converted as of the beginning of
the period unless they have been issued at a later date.

p. Rounding of amounts:

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

1.3 Critical estimates and judgements

The preparation of the financial statements requires management to make
judgements, estimates and assumptions that affect the application of accounting
policies and the reported amounts of assets, liabilities, income and expenses. Actual
results may differ from those estimates.

The preparation of the financial statements requires management to make
judgements, estimates and assumptions that affect the application of accounting
policies and the reported amounts of assets, liabilities, income and expenses. Actual
results may differ from those estimates.

The areas involving critical estimates and/ or judgements are:

a) Revenue recognition

The company uses the percentage of completion method in accounting for its fixed
price contracts. Use of the percentage of completion method requires the company to
estimate the efforts or costs expended to date as a proportion of the total efforts or
costs to be expended. Efforts or costs expended have been used to measure progress
towards completion as there is a direct relationship between input and productivity.
Provisions for estimated losses, if any, on uncompleted contracts are recorded in the
period in which such losses become probable based on the expected contract
estimates at the reporting date.

b) Income taxes

Significant judgements are involved in determining the provision for income taxes,
including amount expected to be paid/ recovered for uncertain tax positions.

c) Property, plant and equipment

The charge in respect of periodic depreciation is derived after determining an
estimate of an asset's expected useful life and the expected residual value at the end
of its life. The useful lives and residual values of company's assets are determined by
management at the time the asset is acquired and reviewed at the end of each
reporting period. The lives are based on historical experience with similar assets as
well as anticipation of future events, which may impact their life, such as changes in
technology.

d) Impairment of Investments

The Company reviews its carrying value of investments in subsidiaries and other
entities annually, or more frequently when there is indication for impairment. If the
recoverable amount is less than its carrying amount, the impairment loss is
accounted for.

e) Provisions

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. These are reviewed at
each balance sheet date adjusted to reflect the current best estimates.

f) Business combinations

In accounting for business combinations, judgement is required in identifying
whether an identifiable intangible asset is to be recorded separately from goodwill.
Additionally, estimating the acquisition date fair value of the identifiable assets
acquired, and liabilities and contingent consideration involves management
judgement. These measurements are based on information available at the
acquisition date and are based on expectations and assumptions that have been
deemed reasonable by management. Changes in these judgements, estimates, and
assumptions can materially affect the results of operations.

g) Goodwill

Goodwill is tested for impairment annually once or when events occur or changes in
circumstances indicate that the recoverable amount of the cash generating unit is less
than its carrying value. The recoverable amount of cash generating units is higher of
value-in-use and fair value less cost to sell. The calculation involves use of significant
estimates and assumptions which includes turnover and earnings multiples, growth
rates and net margins used to calculate projected future cash flows, risk-adjusted
discount rate, future economic and market conditions.

h) Defined benefit obligation

The cost of the defined benefit plans and the present value of the defined benefit
obligation are based on actuarial valuation using the projected unit credit method.
An actuarial valuation involves 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.

27) EARNING PER SHARE:

The Earning considered in ascertaining the companies earning Per Share comprise Net
Profit After Tax. The number of shares used in computing basic earnings per share is the
weighted average number of shares outstanding during the year.

28) Indian Accounting Standard 24- Related Party Disclosure:

The Company has entered into the following Related Party Transactions as on 31st March,
2025 such parties and transactions are identified as per Accounting Standard 18 and Section 2
(76) and 188 of Companies Act, 2013 read with Rules made there under.

29) In accordance with Accounting Standard 22(AS 22) issued by the ICAI, the company has
accounted for deferred income tax during the year. The deferred Income tax provision for the
current year amount Rs. 0.06/- towards Deferred tax asset and for the previous year Rs. 0.05/
towards Deferred tax asset.

30) In the opinion of the management, Current assets, Loans, and Advances have the
value at which they are Stated in the Balance Sheet, if realized in the ordinarily course
of the Business.

31) Balances of Loans and Advances are Subject to Confirmation.

32) Capital Management:

For the purpose of Company's capital management, Capital includes issued equity
capital and other equity reserves attributable to the equity holders of the Company.
The primary objective of the Company's capital management is to maximize the
shareholder value.

To maintain or adjust the capital structure, the Company may adjust the dividend
payment to shareholders, return capital to shareholders or issue new shares. The
Company monitors capital using a gearing ratio, which is net debt divided by total
capital plus net debt. The Company includes within net debt, interest bearing loans
and borrowings, trade and other payables, less cash and cash equivalents.

33) Financial risk management objectives and policies

The Company's principal financial liabilities comprise of other payables. The main purpose of
these financial liabilities is to finance the Company's operations. The Company's principal
financial assets include cash and cash equivalents that derive directly from its operations and
FVTPL investments.

The Company is exposed to market risk and liquidity risk. The Company's senior
management oversees management of these risks. The Company's financial risk activities are
governed by appropriate policies and procedures so that financial risks are identified,
measured and managed in accordance with the Company's policies and risk objectives. The
Board of Directors reviews and agrees policies for managing each of these risks, which are
summarized below.

34) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market prices. Market risk comprises of currency rate risk,
interest rate risk and other price risk. Financial instruments affected by market risk include
FVTPL financial instruments.

35) Equity price risk

The Company's listed equity instruments are susceptible to market price risk arising from
uncertainties about future values of the investment securities. The Company manages the
equity price risk through diversification. The Company's Board of Directors reviews and
approves all equity investment decisions.

36) Subsequent Events

There are no significant events that occurred after the balance sheet date.

37) Additional Regulatory Information

i. The Company is not in possession of any immovable property.

ii. The Company has not revalued any of its Property, Plant and Equipment during the year.

iii. No loans and advances were granted to promoters, directors, KMPs and the related
parties.

iv. There is No Capital work in Progress during the Financial year 2024-25.

v. As per information provided, no proceedings have been initiated or are pending against
the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988.

vi. There are no borrowings from banks or financial institutions on the basis of
current assets given as security.

vii. The company was not declared as a wilful defaulter by any bank or financial
institution.

viii. The company has not advanced/loans/invested or received funds (either
borrowed funds or share premium or any other sources or kind of funds to any
other persons or entities, 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.

ix. No funds have been received by the Company from any persons or entities,
including foreign entities ("Funding Parties"), 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
("Ultimate Beneficiaries") by or on behalf of the Funding Parties or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

x. The company did not enter into any transactions with struck off companies.

38) Undisclosed Income

The Company does not have any transactions which are not recorded in books of
accounts have been surrendered/disclosed as income during the year in tax
assessments under Income Tax Act, 1961.

39) Corporate Social Responsibility

The company is not covered under the provisions of sec 135 of the companies act
2013 as the it doesn't meet the thresholds as mentioned in the Act.

40) Details of Crypto Currency or Virtual Currency

The Company has not traded nor has invested in Crypto Currency or Virtual
Currency during the financial year.

41) Previous year figures have been regrouped/rearranged wherever found necessary,
to be in conformation with current year classification

42) All the figures have been presented in Lakhs and rounded off up to 2 decimals.

SIGNATURE TO NOTES 1 to 42
AS PER OUR REPORT OF EVEN DATE

For JMT & Associates. For and behalf of the Board

Chartered Accountants Spice Lounge Food Works Limited

Firm Registration No. 104167W

Sd/- Sd/- Sd/-

Vijaya Pratap. M ^{Mohan Babu Karjela} Babu Edalamapti

Partner Chairperson/ Director Managing Director

Membership No. 213766 DIN: 08570948 DIN: 03466935

UDIN: 25213766BMIXVH8748

Sd/- Sd/- Sd/-

Place : Mumbai Ravi Kumar Paritala Surabhi Dayal

Date : 28-05-2025 Chief Financial Officer Company Secreraty