Notes to Accounts of Vishnusurya Projects And Infra Ltd.

Mar 31, 2025

(xvii) PROVISIONS AND CONTINGENCIES

A provision is recognised when the Company has
a present obligation as a result of past events, and
it is probable that an outflow of resources will be
required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding
retirement benefits) are not discounted to their present
value, and are determined based on the best estimate
required to settle the obligation at the Balance Sheet
date. These are reviewed at each Balance Sheet date
and adjusted to reflect the current best estimates.

Contingent liability is disclosed for (i) possible
obligation which will be confirmed only by future
events not wholly within the control of the company
or (ii) present obligations arising from past events
where it is not probable that an outflow of resources
will be required to settle the obligation or a reliable
estimate of the amount of the obligation cannot be
made. Contingent assets are neither recognized
nor disclosed in the financial statements. These are
reviewed at each balance sheet date and adjusted to
reflect the current best estimates.

Commitments include future contractual obligations
relating to capital expenditure, which are not
recognised as liabilities in the Balance Sheet but are
disclosed in the Notes to Accounts.

(e) the rights, preferences and restrictions attaching to shares:

Equity Shares

The Company has only one class of equity shares having a par value of Rs 10 per share. Each holder of equity shares
is entitled to one vote per share. The dividend, if any proposed by Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting (AGM) except interim dividend.

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

I n FY 2022-2023, the Board of Directors, and shareholders of the Company, vide their meetings held on September
15, 2022, have approved the buy back of 20,10,000 equity shares of the Company at a price of INR.15 per equity share
(including share premium of INR.5 per equity share). The buy back process was completed by the Company on October
24, 2022. Accordingly, the Company has extinguished 20,10,000 equity shares for an aggregate purchase price of INR
301.50 lakhs. The aggregate face value of the equity shares bought back was INR 201.00 lakhs. Accordingly, the Company
has reduced share capital by INR 201.00 and the balance amount of INR 100.50 lakhs has been debited to Securities
Premium. As per the requirements of the Companies Act, 2013, the Company has created a Capital Redemption Reserve
(CRR) equal to INR 201.00 lakhs. The CRR has been created out of the balance in the Free reserves. The buyback tax
amounting to INR 23.41 lakhs paid by the Company has also been debited to Free reserves.

Securities premium

Securities premium is used to record premium received on issue of shares. The reserve is utilised in accordance with the
provisions of the Companies Act, 2013.

Capital Redemption Reserve - CRR

The Companies Act, 2013 requires that when a Company purchases its own shares out of free reserves or securities premium
account, or redeem its preference shares out of free reserves, a sum equal to the nominal value of the shares so purchased/
/ redeemed shall be transferred to a capital redemption reserve. The reserve is utilised in accordance with the provisions of
Section 69 of the Companies Act, 2013.

Note :

The title deeds of all the immovable properties (land & buildings) which are freehold/mortgaged, are held in the name of the Company as at
the Balance sheet date

In respect of immovable properties given as collateral for loans from banks and financial institutions, the title deeds were deposited with
the said banks/ financial institutions and the Company has obtained a confirmation from the said banks and financial institutions that the
title deeds are in the name of the Company

During the current year as well as the previous year the Company has not revalued its Property, Plant and Equipment Also, in the current year
as well as in the previous year, no borrowing cost is required to be capitalized
References :

Information on Property, plant and equipment hypothecated as collateral security against borrowings of the Company and its subsidiary
company is presented in Note 37 & 38 Information relating to Ageing schedule and Completion schedule of Capital work in progress is
presented in note 34

B. MICRO SMALL AND MEDIUM ENTERPRISES

The amount due to micro and small enterprises as defined in the "The Micro, Small and Medium Enterprises Development
Act, 2006” has been determined to the extent such parties have been identified on the basis of information available with
the Company. Further, in the view of the Management, the impact of interest, if any, that may be payable in accordance
with the provisions of the Act is not expected to be material. The Company states that it has not received any claim for
interest from any supplier under the said Act. The disclosures relating to micro and small enterprises is as below:

Note: The statements submitted to the Bank comprise only of current assets pertaining to the Vandavasi and Hosur Mining
Unit and EPC Division. Accordingly, they do not match the total current asset balances as per the financial statements.

OD Facility with Tamilnadu Mercantile Bank - As per the terms of agreement, The Company is not required to file quarterly
returns/statements of current assets with the bank in respect of its overdraft facilities.

c. The Company has not used borrowings availed on a short-term basis for long-term purposes.

d. The company is regular in depositing the dues along with Interest. The account is not overdrawn as on 31-03-2025.

Therefore, there were no continuing defaults as on Balance sheet date.

e. The Company is not declared as wilful defaulter by any bank or financial Institution or other lenders.

f. Registration of charges or satisfaction of charges with ROC has been made within the statutory period for the working

capital limits sanctioned and availed during the year.

46. LEASES

Lessee''s Perspective

Significant Terms of lease agreement:

1. The Company has entered into Operating Lease Agreement of Property along with Crusher Plants and facilities for
Storage and Sale of Products with its wholly owned Subsidiary Company Vishnusurya Projects and Infra Hosur Private
Limited. The Company has exercised an agreement with monthly rent for Rs. 10,13,000/- which includes Rs. 7,50,000/-
towards 14.9 acres of Land and Rs. 2,68,000/- towards Crusher Plants and facilities for Storage and Sale of Products, for
a lease term of 8 years commencing from 25/01/2025 to 25/01/2033 with an escalation clause of increase in 10% at the
end of every 3 years.

2. The Company has also entered into a Lease agreement for Corporate Office for a monthly rent of Rs.1,50,000/- exercised
for a lease period of 3 years commencing from 01/06/2024 without any escalation clause.

* The above figures exclude rental expenses relating to mining land, as the lease of land for extraction of minerals is outside
the scope of Accounting Standard (AS) 19 - Leases.

Note 47 : AUDIT TRAIL SOFTWARE

With effect from April 1, 2023, the Ministry of Corporate Affairs (MCA) has mandated that companies maintaining books of
account in accounting software must use only such software with an inbuilt audit trail feature, capturing an edit log of every
change along with the date, and ensuring it cannot be disabled.

The Company maintains its books of account at the registered office and mining sites at Aruppukottai and Vandavasi. Across
these locations, it uses Tally Prime Edit Log and Quarry King (for inventory management and billing), both of which incorporate
the required audit trail feature. This feature remained enabled throughout the year for all relevant transactions recorded in
these softwares. Further, the backups of the audit trails (edit logs) from both the aforementioned software to the extent
maintained in prior years, have been preserved by the Company in compliance with statutory record retention requirements,
with servers physically located in India for the financial year ended March 31,2025.

Note 48 : DIVIDEND AND ISSUE OF SECURITIES

Dividend for FY 2023-24 (paid in FY 2024-25)

The Company paid a final dividend of ?1 per equity share, representing 10% of the face value, to its equity shareholders. An
amount of ?0.12 lakhs, which includes unpaid dividends pertaining to FY 2022-23 and FY 2023-24, has been deposited in a
separate bank account

Dividend for FY 2024-25 (recommended)

The Board of Directors, at its meeting held on 23rd May 2025, recommended a final dividend of ?1 per equity share of ?10 each,
fully paid-up, subject to approval of the members at the ensuing Annual General Meeting and deduction of applicable income
tax at source. The recommended dividend is in accordance with the Company''s Dividend Distribution Policy.

Notes:

1) Actual utilisation of IPO issue expenses (Sl.No.1) is lower than the proposed expenditure. Proposed expenditure was
Rs.698.95 Lakhs whereas actual expenditure is Rs.591.46 Lakhs resulting in balance of Rs.107.49 Lakhs. This amount
has been added to General Corporate Purposes. Therefore, total of General Corporate Purposes will be Rs.491.27 Lakhs.

2) General Corporate Purposes revised to Rs.491.27 Lakhs, Actual expenditure Rs.491.24 Lakhs. Above such apportionment
to General Corporate Purposes does not exceeds 25% of gross proceeds from issue.

3) The unutilised IPO proceeds of T6.12 lakhs as at March 31,2025 is held in a separate bank account (ICICI Bank A/c No.
000405148470 - Capital Account) and included under cash and cash equivalents, available for deployment towards the
stated objects.

Note 49:

No proceedings have been initiated or pending against the Company for holding Benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and the Rules made thereunder

Note 50:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall: (a) 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 (b) provide any
guarantee, security or the like to or on behalf of the ultimate beneficiary.

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b)
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Note 51:

No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies
Act, 2013

Note 52:

The Company has not operated in any crypto currency or Virtual Currency transactions

Note 53:

There are no transactions with the Companies whose name are struck off under Section 248 of the Companies Act, 2013 or
Section 560 of the Companies Act, 1956 during the year ended 31- 03-2024

Note 54:

During the year the Company has not disclosed or surrendered, any income other than the income recognised in the books of
accounts in the tax assessments under Income Tax Act, 1961

Note 55:

There are no contingencies or events occurring after the balance sheet date as per Accounting Standard 4 that materially
affects the financial position of the company.

Note 56:

All items of Income & Expense for the period are included in the determination of the net profit of the period. There were
no prior period items to be considered during the year. Accounting policies followed and accounting estimates made were
consistent during the year and there were no significant changes observed as per AS-5.

Note 57:

These standalone financial statements have been prepared and presented in Indian Rupees and all amounts have been
presented in lakhs with two decimals, except share data and as otherwise stated.

Note 58:

The previous year''s figures have been regrouped/re-classified wherever necessary to conform to the current year''s
classification.

As per our report of even date attached

For Madhu Balan & Associates For and on behalf of Board of Directors

Chartered Accountants Vishnusurya projects and Infra Limited

FRN: 011106S L63090TN1996PLC035491

T. Sivagurunathan V. Sanal Kumar A C Thangam V S Ravikumar

Partner Whole-time Director & CEO Whole-time Director CFO

M.No: 220075 DIN:07546821 DIN: 06958029

UDIN 25220075BMRKHL2421

Date : 23rd May 2025 Priya Rajagopalan

Place : Chennai Company Secretary

M No. - A67800

---

Mar 31, 2024

(xvi) PROVISIONS AND CONTINGENCIES

A provision is recognised when the Company has a present obligation as a result of past events, and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value, and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent liability is disclosed for (i) possible obligation which will be confirmed only by future events not wholly within the control of the company or (ii) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. Contingent assets are neither recognized nor disclosed in the financial statements. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Commitments are future liabilities for contractual expenditure remaining to be executed on capital account and not provided for in books of account.

b. micro small and medium enterprises

The amount due to micro and small enterprises as defined in the "The Micro, Small and Medium Enterprises Development Act, 2006” has been determined to the extent such parties have been identified on the basis of information available with the Company. Further, in the view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company states that it has not received any claim for interest from any supplier under the said Act. The disclosures relating to micro and small enterprises is as below:

Note 46 : AUDIT TRAIL SOFTWARE

With effect from April 1, 2023, the Ministry of Corporate Affairs (MCA) has made it mandatory for every company, which uses accounting software for maintaining its books of account, to use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company maintains its books of account in the registered office and in the mining site at Aruppukottai and Vandavasi. In all the locations, the company uses Tally Prime Edit log software which incorporates an audit trail (edit log) feature to maintain its books of accounts. This feature has been active throughout the year for all relevant transactions recorded in the respective software. feature. This feature has been active throughout the year for all relevant transactions recorded in the respective software.

Note 47 : DIVIDEND AND ISSUE OF SECURITIES

During the year, the company paid an interim dividend of Rs. 1 per share which is 10% of face value per equity share to the equity shareholders of the company except for Rs 0.08 lakhs which has been deposited in separate bank account. The board of directors recommended a final dividend of Rs.1/- per equity share of Rs. 10/- each fully paid -up of the Company, subject to approval of members at the ensuing Annual General Meeting and shall be subject to deduction of income tax at source. The dividend recommended is in accordance with the Company''s Dividend Distribution Policy.

During the financial year 2023-24, the Company had made an initial public offering (IPO) of 73,50,000 Equity shares of face value of 10/- each at a premium of Rs. 58/- each. The aforementioned equity shares were allotted on 06/10/2023. The equity shares of the Company got listed on NSE Emerge Platform on 10/10/2023.

The company has utilised the money raised by way of Initial public offer (IPO) for the purpose for which they were raised, with the following exception: As at March 31,2024, an amount of Rs 7.75 lakhs of the IPO proceeds received during the year remains unutilised. The balance has been retained in separate bank account with ICICI 000405148470 - Capital Account.

Also, during the financial year 2023-24, the Board of Directors, and shareholders of the Company, vide their meetings held on July 6, 2023, have approved the issue of Bonus shares of 81,75,632 equity shares of the Company. The Company has utilised the free reserves of Rs. 817.56 lakhs for the issue of Bonus shares.

Note 48:

No proceedings have been initiated or pending against the Company for holding Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the Rules made thereunder

Note 49:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) 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 (b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiary.

Note 50:

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

Note 51:

No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act, 2013

Note 52:

The Company has not operated in any crypto currency or Virtual Currency transactions.

Note 53 :

There are no transactions with the Companies whose name are struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956 during the year ended 31-03-2024.

Note 54:

During the year the Company has not disclosed or surrendered, any income other than the income recognised in the books of accounts in the tax assessments under Income Tax Act, 1961

Note 55:

There are no contingencies or events occurring after the balance sheet date as per Accounting Standard 4 that materially affects the financial position of the company.

Note 56:

All items of Income & Expense for the period are included in the determination of the net profit of the period. There were no prior period items to be considered during the year. Accounting policies followed and accounting estimates made were consistent during the year and there were no significant changes observed as per AS-5.

Note 57:

These standalone financial statements have been prepared and presented in Indian Rupees and all amounts have been presented in lakhs with two decimals, except share data and as otherwise stated.

Note 58:

The previous year''s figures have been regrouped/re-classified wherever necessary to conform to the current year''s classification.

As per our report of even date attached

For S R B R & Associates LLP For and on behalf of Board of Directors

Chartered Accountants Vishnusurya projects and infra Limited

FRN: 04997S/S200051 L63090TN1996PLC035491

R. Sundararajan Sanal Kumar V A C Thangam V S Ravikumar

Partner Whole-time Director & CEO Whole-time Director CFO

M.No:029814 DIN:07546821 DIN: 06958029

Priya Rajagopalan

Date : 23rd May 2024 Company Secretary

Place : Chennai M No. - A67800