Notes to Accounts of Capricorn Systems Global Solutions Ltd.

Mar 31, 2024

(d) 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 consideration required to settle the present obligation at the end of the
reporting period, taking into account the risks and uncertainties surrounding the obligation.

(e) Employee benefits:

Employee benefits include salaries, wages, contribution to provident fund, gratuity, leave encashment towards
un-availed leave and other terminal benefits.

Short-term employee benefits

Wages and salaries, including non-monetary benefits that are expected to be settled within 12 months after
the end of the period in which the employees render the related service are recognised in respect of
employees'' services up to the end of the reporting period and are measured at the amounts expected to be
paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in
the balance sheet.

Post-employment benefits:

Defined contribution plan Employee Benefit under defined contribution plans comprises of Contributory
provident fund, Post Retirement benefit scheme, Employee pension scheme, composite social security
scheme etc. is recognized based on the undiscounted amount of obligations of the Company to contribute

to the plan.The same is paid to a fund administered by Central Government.Contributions are charged to
the Profit and Loss Account in the year in which they accrue.

Other long-term employee benefits

Other long-term employee benefit comprises of leave encashment towards un-availed leave and compensated
absences, these are recognized based on the present value of defined obligation, which is computed using
the projected unit credit method, carried out at the end of each annual reporting period. These are accounted
either as current employee cost or included in cost of assets as permitted in the period in which they occur.

(f) Property, plant and equipment:

The cost of property, plant and equipment comprises its purchase price net of any tradediscounts and
rebates, any import duties and other taxes (other than those subsequentlyrecoverable from the tax authorities),
any directly attributable expenditure on making theasset ready for its intended use, including relevant
borrowing costs for qualifying assets andany expected costs of decommissioning. Expenditure incurred
after the property, plant andequipment have been put into operation, such as repairs and maintenance, are
charged tothe Statement of Profit and Loss in the year in which the costs are incurred.

Property, plant and equipment except freehold land held for use in the production, supply oradministrative
purposes, are stated in the balance sheet at cost less accumulated depreciationand accumulated impairment
losses, if any.

Depreciation and useful life

Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, lessits residual
values over their useful lives, using straight-line method as per the useful life prescribed in Schedule II to the
Companies Act, 2013. Depreciation is recognised to write off the cost of assets (otherthan freehold land and
properties under construction).

Derecognition

An item of PPE is de-recognised upon disposal or when no future economic benefits are expectedto arise
from the continued use of the asset. Any gain or loss arising on the disposal or retirementof an item of
property, plant and equipment is determined as the difference between the salesproceeds and the carrying
amount of the asset and is recognised in Statement of Profit and Loss.

(g) Intangible assets:

Useful life and amortisation Intangible assets with finite useful lives that are acquired separately are carried
at cost less accumulated amortisation and impairment losses. Amortisation is recognised on a straight-line
basis over the useful lives of the asset from the date of capitalisation. Intangible assets withindefinite useful
lives that are acquired separately are carried at cost less accumulatedimpairment losses.

Intangible assets acquired in a business combination viz. Goodwill, Patents, Copyrights and Brands that
do not have definite useful life are not amortised. If events or changes in circumstances indicate that they
might be impaired, they are tested for impairment.

Derecognition

Intangible assets are derecognised on disposal, or when no future economic benefits are expectedfrom use
or disposal. Gains or losses arising from derecognition of an intangible asset aredetermined as the difference
between the net disposal proceeds and the carrying amount The Company has elected to continue with
carrying value of all its intangible assets recognised ason transition date, measured as per the previous
GAAP and use that carrying value as its deemedcost as of transition date.

(h) Impairment

At the end of each reporting year, the Company reviews the carrying amounts of its tangibleand intangible
assets to determine whether there is any indication that those assets havesuffered an impairment loss. If

any such indication exists, the recoverable amount of theasset is estimated in order to determine the
extent of the impairment loss (if any). An impairment loss is recognised immediately in the Statementof
Profit and Loss.

Capital Work-in-Progress includes advances for capital items, capital items under erection and pre- operative
expenses pending allocation on the assets to be commissioned.

Completion schedule : Whose completion is over due or has exceeded its cost compared to original plan. No
such CWIP for the current reporting period - NIL (previous reporting period).

(j) Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the
company or a present obligation that is not recognized because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there
is a liability that cannot be recognized because it cannot be measured reliably.

(k) Foreign exchange translation

The functional currency of the Company is Indian Rupees which represents the currency ofthe primary
economic environment in which it operates. Foreign currency transactions are translated into the functional
currency using the exchangerates at the dates of the transactions. Foreign exchange gains and losses
resulting fromthe settlement of such transactions are generally recognised in profit or loss. Monetarybalances
arising from the transactions denominated in foreign currency are translated tofunctional currency using the
exchange rate as on the reporting date. Any gains or loss onsuch translation, are generally recognised in
profit or loss. Exchange differences on monetary items are recognised in Statement of Profit and Loss in
the year in which they arise.

(l) Cash and cash equivalents

Cash and cash equivalent in the Balance Sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to insignificant risk of changes
in value.

(m) Earnings Per Share:

Basic earnings per shareis calculated by dividing the net profit or loss after tax for the period attributable to
equity shareholders by the weighted average number of equity shares outstanding during the period.

Diluted earnings per share is computed by dividing the profit or loss after tax after considering the effect of
interest and other financing costs or income (net of attributable taxes) associated with dilutive potential
equity shares by the weighted average number of equity shares.

16 Details of Benami property held

The company does not have any proceedings that have been initiated or pending against the company
for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)
and the rules made thereunder.

17 Borrowings from Banks or Financial Institutions or Other Lenders

No such borrowings exist in the company''s books of accounts as at the end of reporting period.

18 Borrowings from Banks or Financial Institutions on the Basis of Security of Current Assets

No such borrowings on basis of security of current assets exist in the company''s books of accounts as
at the end of reporting period.

19 Title deeds of Immovable Property not held in name of the Company

The Title deeds of Immovable property in the books of accounts, are held in the name of company only.

20 Wilful Defaulter

The company is not declared as wilful defaulter by any bank or financial Institution or other lender from
whom the borrowings are obtained.

21 Charges or Satisfaction yet to be registered with Registrar of Companies beyond the statutory
period No creation of charges or satisfaction of charges arised during the reporting period which are
yet to be registered with Registrar of Companies.

22 Relationship with Struck off Companies (under section 248 of the Companies Act, 2013 or
section 560 of Companies Act, 1956):

There are no transactions entered into and outstanding by the Company with any struck off companies
as at reporting date.

23 Layers of Companies, prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017

Company does not have any Holding/Subsidiary companies as at the reporting date.

24 Corporate Social Responsibilty related Disclosures

CSR is not applicable to the company , as neither of company''s turnover exceeded 1000 crores nor
Networth exceeded 500 crores nor Net profit Exceeded 5 Crores During the Preceeding financial year.

25 Details of Crypto or Virtual Currency

The Company does not hold any investments in the form of Crypto or Virtual Currency.

26 Related Party Disclosures: (Related Party Disclosures required as per Indian Accounting Standard
(Ind AS-24) on “Related Party Disclosures” issued by the Institute of Chartered Accountants of India,
are as below)

There were no contracts/ arrangements/ transactions entered into during the year ended 31st March,
2024 which were not on Arm''s Length Basis.

27 Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the
related parties (as defined under either severally or jointly with any other person):

No such transactions exist in the company''s books of accounts during the reporting period.

28 Retirement benefits:

Company''s contribution to Provident Fund charged to Profit and Loss Account, Gratuity and Leave
Encashment benefits are charged to Profit and Loss Account on the basis of actuarial valuation.

30 Contingent Liabilities and Capital Commitments

The company does not have any contingent liabilities and Capital Commitments as at the reporting
date.

31 Derivative Instruments and Other Un-Hedged Foreign Currency Exposure

There are no derivative contracts oustanding at the close of the current reporting period.

32 Segment information:

The Company is engaged in “Business of software development and other IT Enabled Services”, which
in the context of Indian Accounting Standard 108 (Operating Segment) is considered as the only
business segment. Accordingly, no separate segmental information has been provided herein.

33 Based on the information available with the Company, there are no vendors who are registered as Micro and
Small enterprises under “The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31,
2024.

34 Compliance with approved Scheme(s) of Arrangements (approved by the Competent Authority in terms
of sections 230 to 237 of the Companies Act, 2013): “Nil”

37 BSE SOP Penalty for Non compliance of Regulation 33 of SEBI :

As per Regulation 33 of SEBI, every listed entity shall submit the quarterly and year-to-date standalone
financial results to the stock exchange within 45 days from the end of each quarter.

The Company duly submitted the quarterly financial results within the prescribed time as stipulated in
the SEBI regulations. However, due to a change in the format, the financial results submitted by the
Company were not considered by the stock exchange, and it was treated as though the Company had
not submitted any financial results. Consequently, a penalty of Rs. 34,618.80 (in hundreds) was levied,
which the Company has paid in the month of July 2024.

38 Rounding off:

All the amounts in the Financial statements are in Indian Rupees. Depending upon the total income of
the company, amounts appearing in the Financial Statements have been rounded off to the nearest
hundreds or decimals thereof.

39 Previous year figures:

Previous year figures have been regrouped/reclassified, where necessary, to conform to the
CurrentReporting Period''s classification.

On March 24, 2021, the Ministry of Corporate Affairs (MCA) through notification, amended Schedule III
to the Companies Act, 2013, applicable for financial period commencing from April 01, 2021. The
Company has incorporated the changes as per the said amendment in the above financial statements
and has also changed the comparative numbers wherever applicable.

The accompanying notes are an integral part of the financial statements

As per our report of even date For and on behalf of the Board

For SNMR & Associates

Firm''s Reg. No.: 014168S Sd/- Sd/-

Chartered Accountants S MAN MOHAN RAO K.V. SRINIVASA RAO

Sd/- Director Director

CA Satyanarayana .N DIN : 00109433 DIN : 02834578

Partner

Membership No.: 230621 Sd/- Sd/-

UDIN : 24230621BKDZPE5913 PM PADMAJA D MADHAV RAO

Place : Hyderabad Company Secretary Chief Financial Officer

Date : 29 May 2024 PAN : AWCPP4761B PAN : AHGPD3053P

---

Mar 31, 2015

1 Corporate Information:

CAPRICORN SYSTEMS GLOBAL SOLUTIONS LIMITED is a limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956, the company engages in the business of Information Technology enabled services other related activities.

2. There is no information from any of the suppliers regarding their status as small scale industrial undertakings.Hence information regarding dues to such undertakings could not be furnished.

3. The Previous year figures have been regrouped or reclassified wherever necessary to be in conformity with the current year figures. All amounts in the financial statements are presented in Rupees except where ever specifically mentioned.

4. Contingent Liabilities :

On Account of Bank Guarantee given by Bankers Rs.1,60,000 (previous Year Rs.1,60,000).

5. Segment Reporting: The Company has only Software Development activity hence segment report has not been given.

6. Related Party:

As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the disclosures of transaction with the related parties as defined in Accounting Standards are given below:

(I) List of related parties with whom transactions have taken place and relationships:

S. No. Name of the Related Party Relationship

1 Capricorn Systems Inc. Associate Concern

2 S. Man Mohan Rao Managing Director

---

Mar 31, 2014

NOTE : 1 - SHARE CAPITAL Authorised Capital

Authorised (50,00,000 equity shares of Rs.10 each)

Issued, Subscribed & Paid-up

Issued, Subscribed and Paid-up Capital (39,96,000 equity shares of Rs.10/- each)

(Out of which 30,00,000 Equity Shares of Rs.10/- each alloted for consideration other than cash

a. Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- each holder of equity shares is entitled one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

NOTE : 2 - RESERVES & SURPLUS

General Reserve

Surplus in Statement of Profit & Loss At the Beginning of the year Add : Profit for the year At the end of the year

NOTE : 3 - LONG-TERM BORROWINGS

Other Short Term Borrowings Overdraft from SBH (Carrying an interest rate of 14.25%)

NOTE : 4 - SHORT-TERM LIABILITIES

Trade Payables Other Liabilities

NOTE : 5 - SHORT TERM PROVISIONS

Salary and Reimbursements Contribution to PF Gratuty

Leave enchashment Provision for Taxation

NOTE : 6 - LONG TERM LOANS AND ADVANCES

Advance Recoverable in Cash or Kind Share Application money Pending Allotment Balance with Government authorities Security Deposits

NOTE : 7 - CASH AND BANK BALANCES

Cash in Hand Bank Balances :

in Current Accounts in Deposit Accounts

NOTE : 8 (A) - SUNDRY DEBTORS

Debts outstanding for a period exceeding 6 months Other Debtors

NOTE : 9 (B) - SHORT TERM LOANS & ADVANCES

Short Term Loans and Advances

NOTE: 10 REVENUE FROM OPERATIONS

Sale of Services Software development exports

NOTE: 11 Other Income Interest Income

- from Bank Deposits

- from Others

Foreign Currency Exchange Account Total

NOTE: 12 EMPLOYEE BENEFITS EXPENSES

Employee Benefits Expense Contribution to provident and other funds Staff welfare Expenses

NOTE: 13 OPERATIONS & OTHER EXPENSES

Internet And Support Services Postage & Telephones Rent, Rates & Taxes Electrcity Charges Travelling & Conveyance Repairs & Maintenance Professional & Consultancy Charges Office Maintenance & Security Other expenses Amounts written off Loss on sale of asset Audit Fee

Total

NOTE: 14 DEPRECIATION

a) Depreciation of Tangible Assets

Total

NOTE: 15 FINANCE COST

Finance Charges

1 Corporate Information:

CAPRICORN SYSTEMS GLOBAL SOLUTIONS LIMITED is a limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956, the company engages in the business of Information Technology enabled services other related activities.

2. Contingent Liabilities :

On Account of Bank Guarantee given by Bankers Rs.1,60,000 (previous Year Rs.1,60,000).

3. Directors'' Remuneration: 2013 -14 2012-2013

Salary and allowances Rs.600,000 Rs.600,000

4. Additional information as required by Part - II of Schedule - VI of the Companies Act, 1956. Rs.(In Lakhs) Rs.(In Lakhs)

A. Expenditure in Foreign Currency: Nil Nil

B. Earnings in Foreign Exchange: 359.91 345.86 (on cash basis) Software Development Charges

C. C I F Value of Imports: Nil Nil

5. Segment Reporting: The Company has only Software Development activity hence segment report has not been given.

6. Related Party:

As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the disclosures of transaction with the related parties as defined in Accounting Standards are given below:

(I) List of related parties with whom transactions have taken place and relationships:

---

Mar 31, 2013

1 Corporate Information:

CAPRICORN SYSTEMS GLOBAL SOLUTIONS LIMITED is a limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956, the company engages in the business of Information Technology enabled services other related activities.

2. There is no information from any of the suppliers regarding their status as small scale industrial undertakings. Hence information regarding dues to such undertakings could not be furnished.

3. The Previous year figures have been regrouped or reclassified wherever necessary to be in conformity with the current year figures. All amounts in the financial statements are presented in Rupees except where ever specifically mentioned.

4. Contingent Liabilities :

On Account of Bank Guarantee given by Bankers Rs.1,60,000 (previous Year Rs.1,60,000).

5. Segment Reporting: The Company has only Software Development activity hence segment report has not been given.

6. Related Party:

As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the disclosures of transaction with the related parties as defined in Accounting Standards are given below: (I) List of related parties with whom transactions have taken place and relationships:

---

Mar 31, 2012

1 Corporate Information:

CAPRICORN SYSTEMS GLOBAL SOLUTIONS LIMITED is a limited company domiciled in India and incorporated under the provisions of the Companies Act' 1956' the company engages in the business of Information Technology enabled services other related activities.

2. There is no information from any of the suppliers regarding their status as small scale industrial undertakings. Hence information regarding dues to such undertakings could not be furnished.

3. The Previous year figures have been regrouped or reclassified wherever necessary to be in conformity with the current year figures. All amounts in the financial statements are presented in Rupees except where ever specifically mentioned.

4. Contingent Liabilities :

On Account of Bank Guarantee given by Bankers Rs.1'60'000 (previous Year Rs.1'60'000).

5. Directors' Remuneration: 2011 -12 2010-2011

Salary and allowances Nil Nil

6. Additional information as required by Part - II of Schedule - VI of the Companies Act' 1956.

Rs. (In Lakhs) Rs. ( In Lakhs)

A. Expenditure in Foreign Currency: Nil Nil

B. Earnings in Foreign Exchange: 238.12 148.30

(on cash basis) Software Development Charges

C. C I F Value of Imports: Nil Nil

7. Segment Reporting: The Company has only Software Development activity hence segment report has not been given.

8. Related Party:

As per Accounting Standard 18' issued by the Institute of Chartered Accountants of India' the disclosures of transaction with the related parties as defined in Accounting Standards are given below: (I) List of related parties with whom transactions have taken place and relationships: