Savera Industries Ltd — Board Meeting, 23-05-2025: Board Meeting

SAVERA =

23rdMay, 2025

BSE Ltd.

Phiroze Jeejeebhoy Towers

Dalal Street,

Mumbai 400 001

Dear Sirs,

Further to our letter dated May 13, 2025 the Board of Directors of the Company at their meeting

held earlier today, transacted the following business:

1. Financial Results

Approved the Audited Financial Results for the financial year ended March 31, 2025 along

with the Auditor's Report thereon. In this regard, please find enclosed:

* Audited Financial Results of the Company for the financial year ended March 31, 2025.

* Auditor’s Report in respect of the aforesaid Financial Results: The Statutory Auditors of

the Company have issued the Auditor’s Report with an unmodified opinion on the Audited

Financial Statements for the financial year ended March 31, 2025. This declaration is made

pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015.

2. Dividend

Recommended a dividend of ¥ 3/- per Equity Share of % 10/- each fully paid up of the

Company, subject to the approval of the Members at the forthcoming Annual General

Meeting of the Company.

3. Annual General Meeting:

() The 56th Annual General Meeting of the company will be held onFriday, 12th

September, 2025 at 02.45PM through Video Conferencing (“VC”) / Other Audio Visual

Means (:0AVM").

(11) Register of Members and Share transfer books shall remain closed fromSaturday, 06th

September 2025 toFriday, 12th September 2025 (Both days inclusive)for reckoning the

entitlement of dividend to the Members of the Company for the Financial Year ended

March 31, 2025, subject to Tax Deducted at source, if declared by the Members at the

ensuing AGM of the Companyand for the purpose of 56th Annual General Meeting.

Savera Industries Ltd.,

#146, Dr. Radhakrishnan Road, Chennai - 600 004. GST : 33AAECS9541D1ZH, MSME : UDYAM-TN-02-0029972

CIN : L55101TN1969PLC005768, Tel.: 91-44-2811 4700. E-mail : info@saverahotel.com | Website : www.saverahotel.com

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(1) Considered and approved appointment of Scrutinizer for conducting E-voting for

the 56thAnnual General Meeting of the Company. The Cut-off date for Remote E - voting

would be 5% September 2025.

4. Appointment of Secretarial auditor

The Board of Directors have approved the appointment of M/s.M.Francis and Associates

(CP: 14967) Practicing Company Secretaries as secretarial auditor of the Company for the

period of Syears from 2025-26 to 2029-30 subject to approval of shareholders in the

ensuing AGM of the Company..

5. Appointment of Internal auditor for the financial year 2025-26

The Board of Directors have approved the appointment of Mr.S.Prabhu (MNo. 255993)

Chartered Accountant as aninternal auditor of the Company for the financial year 2025-26.

6. Acquisition of restaurant business

Amaravathi Restaurants Private Limited is in the business of managing multiple chain of

restaurants under various brands owned by them across Tamilnadu. Out of the multiple

restaurants, the Board has approved to acquire only three restaurants and food courts for a

value of INR 3.50 Crores and will be operated by M/s Savera Industries Ltd under the

following brand names of M/s. Amaravathi Restaurants Pvt Ltd.

M/s.Amaravathi Restaurant Pvt Ltd

Restaurant Brand Name: Amaravathi, Delhi Dhaba,

Address 204/A, East Coast Rd, near Iskcon Temple, Akkarai, Injambakkar:,

Chennai, Tamil Nadu 600119

Food Court Brand Name :, Delhi Dhaba&Kaaraikudi

Address :Ramanujam IT PARK: Counter 5 & 6, Groud Floor, Neville Towers,

Ramanujam IT City,Rajiv Gandhi Salai, Tharamani, Chennai, Tamil Nadu |

600113.

Food Court Brand Name :Amaravathi,

Address : QSR 6, Ground Floor, DLF 1 & 2 Down Town, 100 Feet Rd, next to

American International School, Tharamani, Chennai, Tamil Nadu 600113

Please find the required tables in Annexure A and B, for the above mentioned points.

The Board Meeting commenced at 03.00PM

The Board Meeting concluded at 09.00PM

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Please take on record the above documents.

Thanking you,

Yours faithfully,

For Savera Industries Limited

R. Siddharth

Company Secretary.

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Arrangements for strategic, technical, manufacturing , or marketing tie-up: Agreement with Companies.

Annexure —A

S.No | Details of Events that need to be provided Information of such event(s) |

1 Name of the entity with whom agreement | M/s. Amaravathi Restaurants Pvt Ltd

is signed (Brand Owner)

2 Area of agreement Franchise agreement and for use of

brands “Amaravathi Karaikudi and

Delhi Dhaba”

Business acquisition agreement for

acquiring three restaurants and food

courts }

3 Domestic/International Domestic

4 Share exchange ratio Not Applicable

5 Scope of business operation of agreement | Franchise agreement for use of brands

and to run restaurant outlets under the

brand name “Amaravathi Karaikudi

and Delhi Dhaba” |

Business acquisition agreement for

| acquiring three restaurants and food

courts.

6 Details of consideration paid/ reeetved in e 6% royalty per month on

agreement. monthly turnover

o foravalue of INR 3.50 Crores

7 Significant terms and conditions of Franchise agreement for use of brands

agreement with consideration of 6% payable to

the brand owner on monthly basis on

the monthly turnover.

Business acquisition agreement for ‘

acquiring three restaurants and food |

courts for a value of INR 3.50 Crores |

8 Whether the transaction would fall within e Yes,itisaRelated Party |

related party transactions and whether the Transaction. ‘

promoter/promoter group/ group e Yes, M/s. Amaravathi

companies have any interest in the entity Restaurants Pvt Ltd belongs to

transacted with? If yes, nature of interest promoter category.

and details thereof and whether the same e Yes, the Related Party

is done at “arm’s length”. Transaction is done at “arm’s |

length”.

7 Size of entity M/s. Amaravathi Restaurants Pvt Ltd turnover for FY 2023-24 is Rs.33.49

|

crores. ‘\ |

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10 Rationale and benefited expected To maximize the revenue by utilizing |

the customer base and goodwill of

both the brands and place of business

in the market and as a part of

expansion in the restaurants business.

Adoption of new line(s) business:

S.No Details of events that needed to be provided Information of such event(s)

L]

1 Industry or area to which the new line of Restaurant outlets

business belongs to: |

2 Expected benefits; To improve the turnover and profit of the |

Company. ’ |

3 Estimated amount to be Invested Upto INR 4 Crores. |

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Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 read along with SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated

Appointment of Secretarial Auditor M/s. Francis & Associates (Practising Company

uly 13,2023

Annexure- B

Table 1

Secretaries) for the financial year 2025-26

S.no Particulars I Details |

|

1. Reason for change viz. appointment;resignation, M/s. Francis & Associates |

removatdeathorotherwise; (Practising Company [

Secretaries) for a period5 |

| years from 2025-26 to 2029- |

30 ‘

2; Date of appointment/cessation (as applicable) & 23/05/2025 i

|

Term of appointment; Financial Year 2025-26 to ‘

2029-30

3. Brief profile (in case of appointment) M/s. Francis & Associates.

Practising Company

Secretaries, is established by

Mr.Francis, a (Practicing

Company Secretary), having

experience of more than 10

years specialized in

providing services in

Company Law, Securities

Laws, FEMA, Labour Law,

Secretarial Audit etc., along

with other specializations.

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Appointment of Internal Auditor Mr.S.Prabhu (Chartered Accountant) for the financial year

2025-26

Sano Particulars Details |

|

1 Mr.S.Prabhu (Chartered - I Reason for change viz. appointnlenl,fesigna;ien,

removat-deathorotherwise; Accountant)for the financial

year 2025-26.

2. Date of appointment/eessation (as applicable) & | 23/05/2025

Term of appointment; Financial Year 2025-26

3- Brief profile (in case of appointment) Mr.S.Prabhu (Chartered

Accountant)specialized in

providing services in Direct

tax, Indirect tax, GST, Income

tax, etc.., along with other

specializations. | |

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SAVERA INDUSTRIES LIMITED Regd. Office : 146, Dr. Radhakrishnan Road, Mylapore, Chennai - 600 004

Tel. No. : 91-44-2811 4700. Fax : 91-44-2811 3475, email : info'a saverahotel.com

LSSI01TNI969PLCO0S768 Website : www.saverahotel.com

@ In Lakhs)

For the year ended S.No

03,2025 31032025 31032024 (Refer Note 11) | (Refer Note 11) | (Unaudited) (Audited) (Audited)

1 [Revenue from Operations 238311 1898.96 192021 7.965.69 7.215.36 11 |Other Income

95.33 85.43 £1.26 375.38 305.40

111 [Total Income (1+11) 227843 198439 2.016.47 834107 75207

1V [Expenses )

Cost of Materials Consumed 300.86 131556

(i) Change in inventory of Stock-in-trade 1523 79.69 Employee Benefit Expenses

565,76 231551 ance Cost 9.08

47.18 ion & Amortization 68.28 7.8

(vi) Other Operating and General expenses 799.71 2.769.67 2,691.39

Total Expenses (IV) 175892 6.5800.43 6,184

V' [Profiti(loss) before exceptional items and tax (I11-1V) 39238 22547 27064 153063 133631

VI [Exceptional items - > - 83.87 -

VI {Profit/(Loss) before tax (V-V1) 39238 27064 162450 133631

VIt {Extraordinary Ttems - IX |Profit before Tax (VII-VIII) 39238 22547 270,64 133631

ITax expense (i) Current Tax 6138 42.00 68.19 349.95 31200

i) Deferred Tax 3 g ] F 3 i) Earlier Year Tax (49.60) (6.19) - (49.60) (6.19)

X1 [Profit /(Loss) for the period continuing operation (1 380.60 189.66 132415 1.050.50

XII (Other Comprehensive Income Ai) ltems that will aot be reclassified 1o profit or loss:

-Remeasurement of defined beacfit plans (19.69) 180 51.65 10.88 -Equity Instruments through Other Comprehens (56.29) 276 304 119.59

(i) Income tax relating 10 items that will not be reclassified to profit or| i 5 o— o S

loss

B.(3) Items that will be reclassified to profit or loss: - - - - - Income tax relating to items that will not be reclassified to profit or| . ~ . . R

Toss (56.85) 1836 1093 020 97.62

11 Total Comprehensive Income for the period (XI+X11) 32375 208.02 20338 [RECNE)

NIV |Paid-up equity share capital 1.192.80 1.192.30 1.192.80 1.192.80

(Face value Rs.10/- each)

XV [Reserves and Surplus (exclu - - - 7.609.25 664275

(Refer Note 4) XVI |Earnings Per Share (In Rs.)

(i) Basic 319 .76 110 .64 Diluted 309 170 110 564

Savera Industries Ltd.,

#146, Dr. Radhakrishnan Road, Chennai - 600 004. GST : 33AAECS9541D1ZH, MSME : UDYAM-TN-02-0029972

CIN : L55101TN1969PLC005768, Tel.: 91-44-2811 4700. E-mail : info@saverahotel.com | Website : www.saverahotel.com

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THE d Financial

Results (as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) quas by the Audit Committee and

subscquently approved by the Board of Direetors at its mecting held on 23rd May 20

[2) The statutory auditors have audited the financial results for the Quarter and Year to date cnded st March 2025 as e st u requircd under Regulation 33 of the SEBI (Listing| Obligations and Disclosure Requirements

) Regulations 2015 and the related report does not have any impact on the ab ove Audited Financial Results and notes thereon.

) These financial resuls have been prepured in accordance with the recogaition and measurement principles of Indian Accounting Standards (“Ind AS") prescribed

under Scction 133 of the Companics Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.

#) Rescrves and Surplus includes revaluation reserve existing prior o It April 2016 amounting to 2 1,334.86 lakhs and to the aforesaid extent cannot be distributed (o the

[sharcholders as dividend.

) Employee Benefit Expenses for the year includes a sum of 2 90.00 lakhs paid to the Managing Dircctors and 2 138.50 lakhs paid to the Exccutive Directors as managerial remuneration as per the Special Resolution passed by the

members at the Annual General meting held on 15th September, 2023 and General Mecting held lon 22nd February 2024.

6) Exceptional items for the year ended 31st March 2025 includes 83.87 lakhs relating to profit on sale of land previously classified as Asset held for sale.

7) The Board of Directors of the Company in its board meeting held on 23rd May 2025, has recommended the final dividend of 2 3 per cquity share (PY 2 3 per cquily

sharc) for the year ended 315t March 2025 subject to approval of members at the cnusing Annual General Meeting.

18) In view of inherent seasonality of the hos y sector, the financial results for the Quarter/ period arc not indicative of the full year's cxpected performance and any

periodic comparison should take this into consideration.

[9) The Company has only one operative segment and operates only in India viz., hoteliering and hence scgment reporting does not apply 1o the company.

10) EPS is not annualized for the Quarter ended 31st March 2025, 31st March 2024 & 31st December 2024,

11) The figures for the quarter ended March 31, 2025 and March 31, 2024 are derived after taking into account the unaudited fina

[months ended December 31, 2024 and December 31, 2023, respectively. information for the period of nine

12) Figures of previous periods have been regrouped/reclassified wherever necessary o conform to the current period classification.

: i For and on behalf of the Board of Directors Place : Cheanai SO 3

Date: 23d May 2025 /_\

/ / fl Y /W“W{L

&

Dr. C Palanivelu Chairman

Savera Industries Ltd.,

# 146, Dr. Radhakrishnan Road, Chennai - 600 004. GST : 33AAECS9541D1ZH, MSME : UDYAM-TN-02-0029972

CIN : L55101TN1969PLC005768, Tel.: 91-44-2811 4700. E-mail : info@saverahotel.com | Website : www.saverahotel.com

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SAVERA INDUSTRIES LIMI

Regd. Office : 146 , Dr. Radhakrishnan Road, V

CIN

D lapore, Chennai - 600 004

01TN1969PLC005768

Balance Sheet as at 31st March 2025

Asat Asat Particulars 31st March 2025 31st March 2024

in Lakhs in Lakhs| ASSETS = . = L

1 Non Current Assets (a)

Propenty, Plant and Equipment 4,101.36 4,047.82

(b) Right of Use Assets 40475 10915 | () Capital Work-In-Progress

2721 s098| | (d) Other Intangible Assets

002 002 (¢) Financials Assets

) Investments 1.771.04 (i) Other Financial Assets 164988

() Other Non-Current Asscts E

Sub Total - A 7.954.29 6.233.43 2 Current Assets

(@) Inventorics 3075 2055 (b) Financial Assets

() Trade reccivables 17801 15819

(i) Cashand Cash Equivalents 79.80 30311

Giii) Bank balances other than (ii) above 2361 65 286,13

(iv) Other Financials Assets 9.41 3435 (c) Current tax Assets (Net) - -

(d) Other Current Assets 366 17.29

Sub Total - B 2,668.29 2.819.67

3 Assets held for sale - 49113

Sub Total - C 5 ECINE}

Total Assets (A+B+C) 10,622.58 9,544.23

EQUITY AND LIABILITIES

EQUITY

(@) Equity share capital 119280 119280 (b) Other equity 7.60923 664275

Sub Total - A S802.05 783555 LIABILITIES

1 Non-curreat Liabilities

(@) Financial Liabilities

() Borowings 3537 130.89 (i) Lease Liabilities 2811 61.79

(b) Provisions 144.00 1826 (¢)

Deferred tax liabilitics (nct) - -

Sub Total- B 36748 31993

2 Current Liabilities

(a) Financial Liabilities g |

(i) Borrowings 150.36 10105 § (i) Lease Lubilitics 12042 $5.32

Gii) Trade Payables . N ~Total outstanding dues of Micro Enterprises and Small Enterprises 2573 3137

~Total outstanding dues of Creditors other than Micro Enterprises and Small 20779 199,88

Enterprises

(iv) Other Financial Liabilities (b) Other Current Liabilities

(¢) Contract Liabilitics

(d) Provisions (¢) Current Tax Lisbilities (Net) |

| Sub Total - € o] |

3 Liabilities classificd as held for sale - 28730,

Sub Total - D 5 - 387.50

NERTIN

e ZAN.622.58 954423 /%) o\

! 1 Ll er . «) ] K/(ia Z4a

Savera Industries Ltd., \& >/ / /) alLort

# 146, Dr. Radhakrishnan Road, Chennai - 600 004. GST : 33AAECS9541D /AM-TN-02-0029972

CIN : L55101TN1969PLCO05768, Tel.: 91-44-2811 4700. E-mail : info@saverahotel.C: /ebsite : www.saverahotel.com

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CIN No.

SAVERA INDUSTRIES LIMITED Regd. Office : 146, Dr. Radhakrishnan Road,

LSSI01TN1969P ¢ 005768

Statement of Cash Flows for the Year ended 31st March 202§ The Statement of Cash Flows has been prepared under the “Indirect Method® 35 set vt m the Indian Accounting

Standard - 7 on Statement of Cash Flows.

Iylapore, Cheanai - 600 004 =4 SAVE

OURBUS!

Operating profit before working capital changes Adjustments for Changes in Assets and Li

(Increase)Decrease in Inventories

m Vear ended STa1 Viarch 3035 Vear caded ST Viarch 204

Cash flow from Operating Acivides o it Net profit before ax exceptional and xtra ordinary iems (excling OCT)

154064 L3031 Add/Less: Other Comprehensive Income before tax

035 ‘13047 Net profit before tax.exceptional and exira ordimary itms (including OCl) TS0 Ti6o7S

AddLess 387 T a Net proftbefore tax and ater exceptional and extra ordinary items (ncluing OC)

16247 x 146678 Adjustments for

(ProfityLoss on sae of Propeny, Plant and Equipment (5305 (199) Assets witen o

2 : Reversal OF Provision for Doubiil Debts 75y

10y Provision for TNEB Deposis P 035

Bad Debis 193 Credior Writen OFF

. Depost wrten off ,

Gam on Investeents cared at FVTPL (Mutual Fund) ©339) Gaun on Far Valustion on Depasits

3 Gam on Lease Temmination @39

(Gam)Loss on Far Valuation of Incstments (1950 Interest Expenses 2418

Interes On Lease Lisbiltes 6 Drvdend

(@51 Interest Income (153 45)

Depreciation and Amortisation Expenses 0w s

s1467

113 (Increase) Decrease in Trade Recenbles G113)

(Insrease) Decrease in Other Financial Assets (Non Cusrent) (39631) (Increase) Decrease in Other Non Current Asscts 233

(Increase) Decrease in Other Current Assets #01

Increase/(Deerease) in Contract Liabilities Tst Increase(Decrease) i Other Financal Liabiltes (Current) 0126

Increase(Decrease) i Trade Payable (Current) (©55) ncrease/(Desrease) m Other Current Libilies (557)

Increase/(Decsease) in Long Teem Provisions ©21) Increase(Decrease) i Shor: Term Provisions 13749 16 G

Cash generated from Operations Te 1 Tos06s Income taxes (paid)Refund 337 70) (243 05)

Net cash from Operating Activities (A) 131439 55763

Cash flow from favestiog Actvicies Puachase of Property, Plant and Equipment @139 (@7350)

Salc of Propeny. Plant and Equipment 20832 2956 Capial Wark i Progess 373 G093

(Increasey Decrease 1 Other Financial Assets (Current) 240 18 (Increasc Decrease i Other Bank Deposits 110995 G1139)

Dividend Received 655 651 Interest Income 26166 15345

Increasei(Decrease) m Liabiles classified as held for sale - 26750 Net cash used in lavestiog Activities (B) [CAE) [ |

Cash flow from Financing Activities: Proceeds from Borrowings (Net) . 19300

Repaymen: of Borowings «1o1.05) (10651) Payment of Lease Liabliics ®141) (8970)

Tnserest on Lease Laabilies @ian 366)

Dividead pasd (5784) (35784) Tnteress expense paid @) @i1s)

Net cash used in financial activities (C) [CIED) (B

Netincrease in cash and cash cquivalents (A) + (8) + (C) (26924) Cash and cash equivalents at beginning of the period 30

‘Cash and cash cquivalents at end of the period 3387

Cash and Cash Equivalents Cash and Cash Equivalents consist of balances with banks. Cash and cash equivalents cluded i the cash flow statements comprisc the followmng balance sheet amousis

A

W)

i ER As at 315t March 2025 As at 315t March 2024 P (38 B8 1 b iy @ in Lakhs) (in Lakhs)

- In Current Account (with Scheduled Banks) 5985 28483 - Cash on Hand 1996 1828

- Deposis with orginal maturay oflss than 3 morihs : £ - Overdrat (@399) =

Total 33870 o 303.11 A=Ay

& 2 ® 74

W % . /Z =l <] / e g S i o

Savera Industries Ltd.,

# 146, Dr. Radhakrishnan Road, Chennai - 600 004. GST : 33AAECS9541D1ZH, MSME : UDYAM-TN-02-0029972

CIN : L55101TN1969PLC005768, Tel.: 91-44-2811 4700. E-mail : info@saverahotel.com | Website : www.saverahotel.com

>

LIENNE

----------------Page (10) Break----------------

S. Venkatram & Co. LLP 218, T.T.K. Road,

Chartered Accountants . Alwarpet, Chennai — 600 018.

“Formerly known as S. Venkatram & Co.” (Regn No: 722) Ph. No.: 2499 21 55/56 /57 Converted and registered as LLP vide LLPIN

AAM-3179/27.03.2018 E.mail : admin@sveo.in

with Limited Liability D

—

Independent Auditors' Report on Audited Annual Financial Results of Savera Industries Limited

pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations

and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations™).

To the Board of Directors of M/s. Savera Industries Limited

Opinion

We have audited the accompanying annual financial results of ~M/s. Savera Industries Limited (the

“Company”) for the year ended 31* March 2025, being submitted by the Company pursuant to the

requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulation™).

In our opinion and to the best of our information and according to the explanations given to us, the

aforesaid annual financial results:

a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this

regard; and

b. gives a true and fair view in conformity with the recognition and measurement principles laid down in

the applicable Indian Accounting Standards, and other accounting principles generally accepted in India,

of the net profit and other comprehensive income and other financial information of the Company for

the year ended 31 March 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section

143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those SAs are

further described in the Auditor’s Responsibilities for the Audit of the Annual Financial Results section of

our report. We are independent of the Company in accordance with the Code of Ethics issued by the

Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our

audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have

fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We

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believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our

opinion on the annual financial results.

Management’s and Board of Director’s Responsibilities for the Annual Financial Results

These annual financial results have been prepared on the basis of the annual financial statements for the

year ended 31* March 2025.

The Company’s Management and the Board of Directors are responsible for the preparation and

presentation of these annual financial results that gives a true and fair view of the net profit/loss and other

comprehensive income of the Company and other financial information in accordance with the recognition

and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the

Act read with relevant rules issued thereunder and other accounting principles generally accepted in India

and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes

maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding

of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and

application of appropriate accounting policies; making judgments and estimates that are reasonable and

prudent; and the design, implementation and maintenance of adequate internal financial controls, that were

operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the

preparation and presentation of the annual financial results that give a true and fair view and are free from

material misstatement, whether due to fraud or error.

In preparing the annual financial results, the Management and the Board of Directors are responsible for

assessing the Company’s ability to continue as a going concem, disclosing, as applicable, maiters related to

going concern and using the going concern basis of accounting unless the Board of Directors either intends

to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the annual financial results as a whole are

free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that

includes our opinion. Reasonable assurance is 2 high level of assurance, but is not a guarantee that an audit

conducted in accordance with SAs will always detect a material misstatement when it exists.

Misstatements-can arise from fraud or error and are considered material if, individually or in the aggregate,

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they could reasonably be expected to influence the economic decisions of users taken on the basis of these

annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional

skepticism throughout the audit. We also:

. Identify and assess the risks of material misstatement of the annual financial results, whether due to

fraud or error, design and perform audit procedures responsive to those risks, and obtain audit

evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting

a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may

involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal

controls.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures

that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible

for expressing our opinion through a separate report on the complete set of financial statements on

whether the Company has adequate internal financial controls with reference to financial statements in

place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting

estimates and related disclosures in the annual financial results made by the Board of Directors and

Management.

Conclude on the appropriateness of the Management and Board of Directors use of the going concern

basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists

related to events or conditions that may cast significant doubt on the appropriateness of this

assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our

auditor’s report to the related disclosures in the annual financial results or, if such disclosures are

inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the

date of our auditor’s report. However, future events or conditions may cause the Company to cease to

continue as a going concern.

Evaluate the overall presentation, structure and content of the financial results, including the

disclosures, and whether the annual financial results represent the underlying transactions and events

in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope

and timing of the audit and significant audit findings, including any significant deficiencies in internal

control that we identify during our audit.

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We also provide those charged with governance with a statement that we have complied with relevant

ethical requirements regarding independence, and to communicate with them all relationships and other

matters that may reasonably be thought to bear on our independence, and where applicable, related

safeguards.

Other Matters

The annual financial results include the results for the quarter ended 31% March 2025 and the corresponding

quarter ended in the previous year being the balancingfigure between the audited figures in respect of the

full financial year and the published unaudited figures up to end of third quarter of the relevant financial

year which were subject to limited review by us. Our opinion is not modified in respect of this matter.

For S. Venkatram & Co. LLP

Chartered Accountants

FRN: W:jfwfls

B Gowthaman

Place: Chennai Partner

Date: 23" May 2025 M. No. 201737 .

UDIN: 25201737BMJHNT2528

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