INSOLARE ENERGY PRIVATE LIMITED ASK Towers, Sth Floor Thoobarahall Vilage, Varthur Hob ‘Bangalore KA 560037 IN BALANCE SHEET AS AT 31.03.2022 In tLakhs| Note [As on Sist March | Ason3ist March partlenlers No. 2022 2021 EQUITY & LIABILITIES (1) owners’ fund (a) Share Capital 2 20,00] 1.00.00 {Reserves and Surplus 3 137797 80.00] 145797 70.00] (2) Non Current Liabilities {a) Long’Term Borrowings 4 440.00 268.47 (@) Other Long Term Provisions 5 6.98 76:8| {e) Deferred Tax Liabilities (Net) 5.13 0.00 452.10 344.065 (3) Current Liabilities {@) Short-Term Borrowings 6 1293.03 957.25] (0) Trade Payables 7 i} Due to micro and small enterprises 1.25| 1146] ip Duc to others s491.40 316004] (0 other Current Liabilities 8 377.02 995.13 (@) Short Term P 9 547 3392 TaTA6| 7313.80) oral} 9527.53 2676.46 lu. assETS (4) Non-currentassets {ayProperty Plant and Equipment and Intangible assets {i) Property Plant and Equipment 10 334.02 36at {i Intangible Assets 0.09] 0.00] (0) Non-current Investments 11 5.10 5.10 (6) Deferred Tax Assets (Net) 2 0.00] 1605| 339.12| 5728 (2) Current assets (@) Inventories 13 190.25| 877.98| {(b) Trade receivables 14 632430 995.8 {cash and Bankbalances 45 133258 379.90 (@) Short-term Loans and Advances 16 933.80 246.86 {e} Other Current Assets 7 21747 12065| 398841 762120 rorat 3527.53 2678.46 ‘Significant Accounting Policies and Notes on Bigekan For M/s Shreekant $ Shah & Co. favashilV.Sharma Dipakkumar A. Patel Chartered Accountants Director Director FRN: 1101770 DIN: 06702417 DIN: 08135197 "She -kant S Shah ay FRM MONTH Fae ++ AHHEDABAD ‘Membership No: 038215 \ ZA Place :Ahmedabad Date : 15/09/2022 Place :Ahmedabad Date : 15/09/2022 UDIN: 22038215AVCIEL9108INSOLARE ENERGY PRIVATE LIMITED sth Floor Thoobarahall Village, Varthur Hobl! Bangalore KA 360037 IN ASKTowers, STATEMENT OF PROFIT AND LOSS ASAT 31.03.2022 IngLakhs S| aonsia Nan | Aronsistvarch Particulars ote Ne. 2022 2021 luvcome Revenue from Operations 18 23051.04| 316491 other Income ’ 7290 ‘508 rota income (2) 973.95 3199.95 lexnenses: [Gorear Materials Consumed 20 2012353 232979 Project Expenses er 18293 40187] Employes benefits expense 22 70456 50058) Depreciation 10 3064 1670 Finance Cost 2 14648] 19877 other expenses Ey 49567 165.62 ‘Total Expenses(It) 72063 82| 510.33 Profit beforetax(l) 78008 Hos frax expense: current 23 370.96] 225 DeterredTax 21.17] 3200 [Profitfor the Year T6797 10.60) arming per equty share: (1n 8) Basie 183.50 5132 Diluted 163.50 “132 Nunber of sharesin computing earnings pe share Basie 8.00 800 Diluted 00 8,00] significant Accounting Policies and Notes on Financia Statements For and on behalf ofthe Board Bor Qe hats ForM/sShreekant S Shah & Co. Navashil V.SharmaDipalkamar A. Patel Chartered Accountants Director Director RN, 110177 DIN; b670ze17 DIN; 08135197 Slwe eld Shrectants Shah Partner Membership No: 038215 Place Ahmedabad vibe Date : 15/09/2022 ‘UDIN: 2203821SAVCIEL9108 Date : 15/09/2022INSOLARE ENERGY PRIVATE LIMITED casi1 FLOW STATEMENT FOR THE YEAR ENDED MARCH 34,2922 In tLakhs ‘asat 91/09/2022 [Asat 31/03/2024 PARTICULARS ‘Amount RS. ‘Amount Rs. PA EASH FLOW FROM OPERATING ACTIVITIES NetProfithsfore Tax 7360.3 #1035] ‘Adjustments for 0.00] 0.00 Depreciation 30.64 16,70} Financial Charges 146.48] 195.77 0.00 0.00 parang Profi efor Financial Charges 2037 25| =197.87 ‘Adjustments for 0.00 0.00 (increase) / Decrease in inventories 97.72 710.86] nerease) / Decrease In Trade Receivable 5328.48) 7160.07| {increase / Decrease in Short Term Term Loans & Advances 686.95 65.44] increase) / Decrease in Other Current ASS 96.82 11.15] (Uncrease)/ Decrease in Other Non Current. ASS 0.00 0.00 ‘Gnerease)/ Decrease in Deffred Tax Assets 5.12 12.00 increase / (Decrease) in Other Non Current Liabiies 69.20] 24.16] increase (Decrease) in Short term Borrowings 335.78 34079] Tnerease / (Decrease) in Trade Payable 3165.15 25.65) tnorease / (Decrease) in Other Current abilities 418.11 655.34 increase / (Decrease) in hor Term Provision 20.85| “2a Profit on Sale of Fixed ASSets 0.00 0.00 Loss on Sale of Feed Assets 0.00 0.00 ‘Greation of MAT Credit Entitlement 0.00 0.00) “ajustment during the year for previous years expenditures 0.00 0.00 ash Generated from Operations 7652.05 330.5| Taxes Paid/Provided 37099) 12.25] Deffered Tax Provided 5.12 12.00 Tet ash rom Operating Activites 7275.94 530.20 [ASH FLOW FROM INVESTING ACTIVITIES O 0.00 Parchase/ Acquistion of Fixed ASSts “BOBS 10.64] Purchase/ Acquisition of investments 0.00] 0.10] Sale of Fixed Assets 0.00 0.00 ‘Other Income (Dividend from investment) 0.00 0.00 Tt Cash rom/used in) Investing Activities 7328.55| 0.74 |EASH FLOW FROM FINANCING ACTIVITIES = 0.00 0.00 Tesue / (Redemption) of Share Capital 20.00 0.00 Securities Premium Received 0.00] 0.00] increase / (Decrease) in Share Application Mone 0.00 0.00 Tnerease/ (Repayment) of Term Borrowings 77153 7136.63] Financial Charges Paid 14648) 195.77 Tet as from/{ased in) Financing Navies 5.05| 7332.40) 0.00 0.00 oe Tnerease (Decrease) in Cah & Cash Equivalents 352.44 707.06] Cash & Gash Equivalents atthe Beginning ofthe year 37990 192.8 Cash cash ulvalnts at tho End ofthe year 733234] 379.90] As per our Report attached to the Balance Sheet ForM/s Shreekant Shah & Co. Chartered Accounans macaw ES Ea a elude [Navashil Sharma Snes Shab nBhD | Parmer (Membership no. 03821! Place: Ahmedabad Date : 15/09/2022 Director DIN: 06702417, Place Ahmedabad Date + 15/09/2022 Dye? Dipakkumar A Patel Director IN: 08135197ACCOUNTING CONVENSIO! Financial statements are prepare accounting and going concern concept, in accordance wi principles in India and the relevant provisions of the Companies Act, 2013, including ercounting standards notified therein, except otherwise stated. 41 under the historical cost convention and on accrual basis of th the generally accepted accounting ‘The company follows mercantile system of accounting and hence all expenses and Incomes are accounted on accrual basis. B. USE OF ESTIMATES: ‘The preparation of financial statements requires management to make estimates and assumptions that effect the reported amounts of assets &eliabilities, the disclosure of contingent sesets & liabilities on the date of financial statements & the reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates. Any revision to accounting estimates is recognized prospectively in the current & future periods. C. REVENUE RECOGNITION: Revenue from sale of Services, traded goods and Annual Operation & Maintenance Contract & Warranty is recognized when the substantial risks and rewards of ownership are transferred to the buyer under the terms of the contract and a reasonable expectation of collection of the sale consideration from the customer exists. D. PROPERTY, PLANT AND EQUIPMENT: Property, plant and equipment are stated at cost net of recoverable faves, trade discount and rebutes, less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price, including duties and other non-refundable taxes or levies and directly veributable cost of bringing the asset to its working condition and indirect costs specifically attibutable to construction of a project or to the acquisition of fixed asset. Subsequent expenditure related to an item of tangible asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance, Assets retired from active use are carried at lower of book value and estimated net realizable value. E. DEPRECIATION AND AMORTISATION: 1) The Company provides for depreciation on tangible assets to the extent of depreciable vamount on written down value method, Depreciation is provided based on useful lifeand vesidual value of the assets as prescribed in Schedule Il to the Companies Act, 2013 11) Depreciation on additions to assets or on sale / discardment of assets is provided on pro e month in which assets have been put to use, up to the month prior tothe month in which assets have been dispos provided over the residual life of the respective asset. F, INVENTORIES Raw materials, work in progre: sed off. Depreciation on additions to assets is .ss stock and Service Stock are taken and valued at lower of cost or net realizable value on FIFO basis after providing for obsolescence if any as confirmed and submitted by the management. ii, Stores and Spares are treated as consumed in the year of purchase. G. FOREIGN CURRENCY TRANSACTIONS ‘Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of the transaction or that approximates the actu H, TAXATION: al rate at the date of the transaction. Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act, 1961. Deferred tax resulting from timing difference between taxable income and accounting income is accounted for using the tax rates and laws that have been enacted or substantially enacted as on the balance sheet date, The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future. The deferred tax liability as at 31st March 2022 comprise of following: - (In Lakhs) Sr. Particulars ‘Accumulates | Charge/(credit) | Balance as at No asat during the year | 31/03/2022 31/03/2021 ‘A_| Deferred Tax liability “4.06 1.29 “2.77 i. Related to Fixed Assets B_ | Deferred Tax Assets 11.99 19.89 79 i, Related to disallowance under I. Tax Act, 1961 © | Net deferred Tax “16.05 HAT baz Liability /(Asset) 1. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS: Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. either recognized nor disclosed in the financial statements.}. EMPLOYEE BENEFITS: i _ Retirement Benefits in the form of Provident Fund, Family \d which are defined contribution schemes Pension Fund and Employees’ State Insurance Fun are charged to the Profit & Loss account. The company has decided to account for such gratuity liability on basis of Actuaries valuation report. it, Leave Encashment; Leave encashment provision is accounted in Books of Accounts as pet Actuaries report basis. K, Doubtful Debts & Sundry balances Doubtful debts and Sundry balances which in the opinion of the ‘management are considered doubtful of recovery /payment are reviewed at year end and accounted accordingly. 1. RELATED PARTY TRANSACTION: (In % Lakhs) Year yas | meraa | 202021 «| 2020-21 Partioulars Rey [Other Retated| Key | Other Related Management | Party | Management | Party Personnel Personnel ‘Rendering Operation and Maintenance Services - 1679 : That Director Remuneration T4031 : w36 : Salary z 5 Es 306 ‘Advances given 5 OAs 03 ci Payable Amount Written off a F 5 Total 183i Ta 569 7950 M. CONTINGENT LIABILITIES: (In < Lakhs) ‘Ason31stMarch | Ason3istMarch Particulars 2022 2021 Contingent Liabiliti a: Letter of Credit Outstanding ‘7]SB Bank = e Bank of Baroda = 7.81 : Guarantee given by the Bank on behalf of Compan: 7T]S8 Bank. Z-35: Shas 314.65 279.18 Kotak Bank g2 ‘ 5 4.85 \ 170.63 212.16 BankofBaroda _[/-=/ * tpn) ix Coy ‘Ae! Cyc. Disputed Statutory Dues under - rez Goods and Service Tax for FY 2017-18 8 2018-19 105.73. “Telangana Goods and Service Tax for FY 17-18, 18-19 & 19-20 ‘9.52 = seat pispated Statutory Dues under the Karnataka and wepeigana Goods and Service Tax are under Adjudication with the respective Range offices. 605.37 505.96 N. Earnings Per Share: Particulars 31/03/2022 31/03/2021 No. of Equity shares 8.00 8.00 | (in & Lakhs) Nominal value of shares 10 10 Profit after tax 1467.97 -410.60 (In Lakhs) Earnings per share 163.50 “51.32 0. ‘The balances of Sundry Creditors, Sundry Debtors, Loans & advances are subject to confirmation of parties concerned. In the absence of such confirmations, the entries recorded in the books of ‘accounts have been relied upon and therefore such balances are a5 per the books of the accounts of the company. And necessary adjustments, ifany, shall be made on the settlement of the outstanding balances. . ‘The Micro & Small and Medium Enterprise Development Act, 2006 requires certain disclosures to be made relating to Micro, Small & medium Enterprises. The company is compiling relevant information from its creditors. @._ Figures are rounded to the nearest rupee and previous year figures are regrouped, reclassified and rearranged wherever necessary. R._ During the year, company has given Staff Advances during F ¥ 2021-22 to i] Mrs, Swetha Dabbara for her personal family issue of Rs. 86 Lacs ii] Mahesh Kumar for Medical Emergency Expenditures of RS.26.40 lacs iit] Kiran Kumar for perusing his higher education of Rs. 5 lacs ‘The Company has sanctioned all these loans by passing Board Resolution No. 04/2020-21 dated 24/03/2021.‘Towards above three staff loans Mrs Swetha Dabbara has executed a simple mortgage of 2 land plot having value of Rs 90.30 lakhs with company ‘with authority to the company that if they are fails to repay staffloans describe in the mortgage ‘deed along with interest then the company has absolute right to take over the said mortgaged property. Rs 27.10 lakhs no security is yet provided While for remaining uncovered portion of staff loan of s, Event Occurring after Balance sheet Date: rivate Limited [100% ation filed for Insolare2 Energy P! company Rs.10000 will be ‘The Company Strike off applic: 2022. Hence Investment in that c' subsidiary company] as on 17-06~ written offin 2022-23. ‘As per our attached report of even date For and on behalf of the Board For, Shreekant S. Shah & Co. Insolare Energy Private limited Chartered Accountants FRN: 110177W Seen oe ee Qyas™ (Shreekant S. Shah) (Navashil V. Sharma) (Dipakkumar A. Patel) Partner Director Director Mem No: 038215 (DIN 06702417) (DIN 08135197) Place: Ahmedabad Place: Ahmedabad Date: 15/09/2022 Date: 15/09/2022INSOLARE ENERGY PRIVATE LIMITED NOTE 2 : SHARE CAPITAL (in € Lakehs) “As on 31st March 2022 As on Sist March 2021 x z Particulars AUTHORISED £8,00,000 Equity Shares of Rs.10/- each 80.00 80.00 20,000 Preference Shares of Rs.100/- each 20.00 20.00 ee 00,00, 100.00 ISSUED, SUBSCRIBED AND PAID UP £8,00,000 Equity Shares of Rs.10/- each fully paid up 80.00 80.00 20,000 Preference Shares of Rs.100/- each fully paid wp 0.00 20.00 ea TI 00.00 — a. Terms / Rights attached to Equity Shares : Joe Company has equity shares having a par value of Rs0/- per share. Each holder of Equity Shares ls entitled to one vote per se cori he dividend if proposed by the Board of Directors and approved by the Shareholders inthe ensuring ‘Annual General Meeting In the event of liquidation ofthe Company the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts, Reconciliation of the number of shares outstanding and the amount of share capital as at: (in Laks) = ‘Feon 3st March 2022 ‘son 31st March 2021 HaeeS aes No. of Shares z No. ofShares = Number of shares - Opening 00 0.00) 3.00 80.00 [Add: Shares issued 0.00] 0.00 0.00) 0.00 [Number of shares - Closing 8.00) 30.00] 8.00] 30.00 ‘As on Sist March 2022 ‘son Sst March 2021 pean Sa No. of Shares z No.of Shares x Number of shares - Opening 020) 20.00] 020 20,00) [Add: Shares issued / (Redemed) 0.20] 20.00] 6.09 0.00 ‘Number of shares ~ Closing 0.00] 0.00 020 20.00) «Details of Shareholders holding more than 5% Shares in the Company EQUITY SHARES ‘As on Sist March 2022 ‘As on Sist March 2021 fam holder Nain ithe arco No, of shares ‘% held No. ofshares % held [De Sunit Tyagi 3.56] 475% 750 3.75% [Hemanshu D.whate 189 23.57% Navashil V. Sharma, 189 2357% PREFERENCE SHARES Name of the shareholder ‘As on Bist March 2022 ‘As on 31st March 2024 No. of shares ‘Yheld No. of shares % held [Cie nitatves = o 020] 700% «d. There are no Shares held by Holding Company / Subsidiaries of ultimate Holding Company. There are no Shares reserved for issue under Options and Contracts/Commitments forthe sale afhayes/Disinvestment including the terms and amounts Zale {.There is no Convertible Securities outstanding atthe end of reporting periodINSOLARE EvERY PRIVATELDATTED (neath) NOTE 3: RESERVES & SURPLAS eS Fania Nach Avonsisenars Ee 2022 2001 surplus inthe statement ofprotanoss : (er prttrthe ear ers? Sno (ee By Bak Of Preference hae “000 ‘300 ne Taner cpt Redempon Rese, 00 ‘m0 ‘Goxng Bane i 09 pita Rermption serve “Opening Blace 000 00 Rutten om Profi Lo Aasun, ana ‘uo (Gases — 990, (atta) [NoTe4: LONG TERM BORROWINGS rin rin as ‘oe 2020 Sarerborrowin neon Bans a 2123 ‘Uascure darowings ‘etundrthe BCL om Bankand KEP 2032 9605 arti ae iotenectowes | ___SEE?SBAES, utes carn mais of ang Tem irae Deke (nat. 8) aa NOTES: OTHER LONG TERM PROVISIONS (inet) ony aa na Petzwe Bacshment 1075 zs ae: Amount acid adr thw ather covet Lbs estaty aus aso Rene Hashes 302 “385 = OTE 6: SORT TERM BORKOWINGS, Torre on ae 2022 20. Seer worrowines ‘ALoans repsyableondemant ‘om bank Banker ova ose Unsecured Borzowings "ane repayabion demand TombaisANGECS arent Matar of ong Term De (eter ote Long Tem borronises) 7075 ies ame ws NOTE: TRADEAYABLES cisttatas) ae Aeon TANT AoA STATE, oz aoa. |) bue to mio and sl enterprises 138 stot swt 77386, os aisove: ove CURRENT LABILTIS (intuakn) Oe eee ee cies 2022 2008 ie an Tose sense ae Sores faye 2090 mas ‘vate rom Cistomess __ naga era 39515 nove: SHORT TERM PROVISIONS cantata TReonsistniardh Avonietbarch “rt Payable TF a7 ave Scat Payable os 5, Proviso for nae Fs a 2310INSOLARE ENERGY PRIVATE LIMITED NOTE 7 (COND) (CURRENT TRADE PAYABLES AGEING SHEDULE AS AT 31-08-2022 (Rupees in ak) SAGAS [UREA [or due —[Owstandingor following periods from av ave of payment Total Tesethan +2 Fa |Morethan 31-03-2022] year ears wears _|3years [a MSME 125 00 0.00 125} [corners sa5.49| sa1.40] [ca Disputed 0.09) ‘00 [dues - MSME 0.00] (gv) Disputed 0.00 [dues Others 0.00] 0.00 Tol 000 | 0.00, THz. e.00| ooo] 0.00 492.65] NOTE 14 (CONTD) CURRENT TRADE RECEIVABLE AGEING SHEDULE AS AT 31-03-2022 (Rupees in ak) Gartzulas]Unbiied [Ror doe [Outstanding for following periods from due date of payment Total asat Tess than 12 73 [More than 31-03-2022] year ears years _|3years (0 Undisputed Trade Receivables c2s6.04) 5308] zor} 000) 652430] ‘Consdored 00d, iH naispated] Trade Recelvables 09 a. 00) 0.00 0.09 "considered ‘dba Total o00 | 0.00 6256.04 qeoo 20.7] 0.00) 6324.30)‘CURRENT TRADE PAVABLES AGEING SHEDULE AS AT 31-03-2021 (Rupes in okt) FanialarsUnbied [Noedue [Outstanding fr folowing periods from due date of payment Total asat Tess than 12 23 [Morethan 31-03-2022] ‘year ears wears _|Syewrs @MSME Tia] ‘00 0.09] Tig [cn omens 316.04 316004 (i) Disputed 0.00 12.00 [dues - MSME 0.00 {9 Disputed 0.00 [dues Others 0.00] 0.00 Total ‘a0 | 000 327350 om) ‘ooo 0.00 32750 NOTE 14 (CONTD.) ‘CURRENT TRADE RECEIVABLE AGEING SHEDULE AS AT 31-03-2021 (Rupees in aks) Tanicalars[Unbited Not due ~ [Outstanding for following periods from due date of payment Total asat Tess than 7 3 ]Morethan 31-03-2022 year rears_|3 years (Unalispured ‘Trade 6.03] 2011] ooo] 369.5] 99581 09 0.00) o.oo 0.04 Total ‘o00 | 000 38603 20.47 00] 38961 99581Fea HOTRSTA EOL Tse ZoveE eaSET on [WorOE (er s0r Eeeor 000 ise OE oeTar WOK WUE [EOL se coves jeese on poe lersor Sr oor 000 ssazE loeter waa TOL, 9st vss Sez, [00 258 car 2828 000 ev ey aan SoA 6% TE9. lost oo (660) ier ree TZ ooo vet lzcer AUTEN wl eo [ze0 ve foro B00 oe eve 000. 00 lave RSV Te iacor Ts6r SLE oro ler6r sees poze ooo 259 jeroz Fanrduioy ee Eco vat foro. loz Teer freee [ooo Ozer esvt SER omy foo [e09ez [ps0 [os loro e982 [psoez lov Fupia| Ot we zi reozwewre |zzoz-wrWtE| are: yeoz-nlv-t [2202-¥HW-TE) suono) Z Tz0zdy-T wesv yesv men F6) | appeal orice | ee aad Sl tee lee wesy wondiosea Spa NOMVIDEaEG— Goren) LNawainda NY INVA ‘KLBAOHe # OF ALON TALINITELVATEE KOWINTTAVTOSNTINSOLARE ENERGY PRIVATE LIMITED NOTE 11 : NON-CURRENT INVESTMENTS (in Lakhs) EE ee ‘Ason dist Avon ist Eaten ‘March 2022 March 2021 Tongterm Investments (Al Long Term Trade (Unquoted) -ateost 110100 (Previous year 10,100) Equity Shares of €50/- each lly paid up in T)SB Sahakari Bank Limited 5.00 5.00 (8) Shares -(Unquoted) -Investmnet in 100% Subsidiary - at cost 41000 shares of Rs. 10 each of M/s Insolare2 Enengy Private Limi 010 010 Seep oA (In Laks) NOTE 12: DEFERRED TAX ASSET (NET) ee a Asondist Avon ist Eee Maren 2022 _ March 2021 DeferredTax (ability]/ Asset 513 1605 Deferred Tax (Libilty)/ Asset ESE e085 [NOTE 13 : INVENTORIES (in Lakhs) See ae Ts onsist Aon sist axoee March 2022 March 2021 180.25 877.98 Stock in Hand (As cortied by Management) NOTE 14: TRADE RECEIVABLES = Asondist — Asonsist bars March2022 March 2024 Considered good - Secured Considered good - Unsecured 632430 995.81 [eI] STNOTE 15: CASH & CASI EQUIVALENTS In RLakhs) Fsondist son ist ois erate ees (A) Cashin hand 357 2.90 {3} Gatncns with Danks Sacre wesy 7190 soa guaantce Margin Depost accounts fe soso EEE NoTE16: SHORT-TERM LOANS & ADVANCES inti aroma heen sist us cont March 2022 __ March 2021. ge ek eo ee Unsecured, considered good ‘Advance to Supplier &eContractor 75946 20st ‘oan and Advance to Employees 15136 2129 Deposits 187 1ss2 ther recoverable 533 Bat Be 335.80, 7686 NOTE17 ; OTHER CURRENT ASSETS, An Lakhs) a Ason dist Ason 3ist “TDS ACS Receivable 7978 4678 Gst credit 11795 6534 VAT Input Creat 334 409 Prepaid Expenses 1639 235 i747 720.65INSOLARE ENERGY PRIVATELIMITED [NOTE 18 : REVENUE FROM OPERATIONS (In € Lakhs) Fson dist Avon Sist March pacneuer March 2022. 2024 Sale of Product 1206.07 115897 Erection, Pracurementand Construction 11092.00 17126 Operation & Maintenance 264.90 26429 498.07 48.99 Professional and Technical Consultancy aoa ee ag497, 7051.04 NOTE 19 : OTHER INCOME (ant Lakts) nit Avon starch” Partisnlsry March 2022 2021. Interest income on FDRS 2704 1122 Discounerecesed 336 386 Dividend on TISB Shares 076 0.00 Grauity-Excess Provision Weten back 23:26 000 Leave Eneashment- Excess Provision Weiten bac 1499 000 Exchange Rate Diferenceon Foreign Currency 359 000 Saree Oe ee 7250 i508 [NOTE 20: COST OF MATERIAL AND SERVICES (in Lakhs) SRN ee son dist Avon 31a March (retucnlnts! March 2022, 2021 Inventory atthe bepining ofthe yest 97798 oa8e3 ‘dd: Parenase of Product 1192528 768.73 Add: Purchases of material for Engineering, Procurementand Construction 555457 112754 ‘Add: Contacting and Services 194796 32267 030379 3207.77 Less: Inventory a the end af the year 18025 97.98 2012353 7329.79(in € Lakhs) sonnet ee Asondist Avon SeatNarch ee “echnical Profesional Fees 13488 7038 Freight & Transporation Charges 129.29 5910 Costom Duy Charges 2927 11825 Squipment Hiring Charges 351 003 Travelling Bepense 9617 3179 Sie Expense 9036 11932 ee ee 7238 Ta NoTE 22 : EMPLOYEE RENEFIT EXPENSE (in Laks) irri as on st arc raceme March 2022, 2021 Salaries & Allowances 74921 43094 Contribution to Provident Fund & SIC 2978 7246 Grataty 0.00 4130 eave Encastment 0.00 451 Staff Weller Expenses 661 136 ss, NOTE 23: FINANCE COST (in Laks) Mere nn Oe Asonsiat Avon Sin March poe March 2022. 2021. Bank charges 165 356 Commission On 8G &LC 1014 1657 Interest on Borrowings 5971 9640 Interest on Over Draft maa4 73.00 (Other Finance & ters charges 253 124 76.48. 795.77NOTE 24: OTHER EXPENSES (In € Lakhs) Aeon ist Aon sist March Particulars March 2022 2021 Commision & Brockerag CATES 78 70 can senton Expenses 249 320 caer Repairs Expenses et ne Hlectrity Charges, 204 198 oe eres 30 238 teraemen penser Set ie Iiereston Dieta 368 Eat Ineerton erect ax 033 219 Miucceneoe Erpenses 386 te Dine Maltenance Expenses ai oe Portage &caurers 393 is? oe 307 130 Pring onl and Constancy Cars sat 2538 ‘aren 2088 oss os mit sss rene 2510 2066 Fepatrand Maitananceother an S08 ‘ec uence 325 200 ‘ny Stance Wren of 2263 ses2 Shorea Power Generation XP 342 000 aes Diference on Forsgy CERO) 000 288 Dene 2580 too Sar 1a =r Aeon Bast ison BTA March Parco Mare 202202) Provion fo eam Tat sno 0.00 Prom at Expense or Earle Yor dat 1235 0993 as —— 2INSOLARE ENERGY PRIVATELIMITED [NOTE 26; LOAN FROM BANKS (A) Secured Loans on-curren Secured Loans includes to Loans by hypathecation of assets (fics and Car) Purchased. The details ofthe 0 ‘same fs hereunder: Jamount outstanding [Balance Tenure Sr.No, [Name of Lender mate of nterest_|(In¢Lakhs) __|inmonths __|Security [DFC Banke SO 1 a__Jar 2 [TIs@ Sabkari Banke Limited 70.50%) 17534 ny office Fis Saar Bank Limited 10.50% 1957 sq__|eor 4 [ISB Sablart Bank Limited 8.00%) 1940 sar Fatal 70 ‘secured Failty as avalled under Emergency Credit Guarantee Scheme, Guaranteed by Gverament of india without adton 0) Collateral facility. |amount oustanding Sr.No, [Name of Lender Rate of interest_|(in © Laks) Balance Tenure 7 [NSE Sahlan Bank 7778 3334 29 2_[MsB Sable Banke Ltd 925%6| 15027 60 3 itya Birla Capital Led (OGL) 72.60%] 308 30 “4 Jeti Capital Services Private Limited (BCGL) 11.8094 209) at 5 [Deutsche Bank (ECGL] 7.0036 448 30 6 [Pullerton india Credit ited 11.70%6| 313 2 7 |Indostar Capital Finance Ltd 11.70%] 36 29 F— Jindusind Bank Ltd (ECGL) 3.20% 6.08, 3 ‘9 [Kotak Mahindra BanicLed (BCGL) 6.00%) 358, 28 10 [Magma Fincorp Ltd (ECGL) 11.7096) 338, 31 Ti [standard Chartored Banke Lid (ECL) 77055] 1060) 26 42 [Tata Capital Limited (ECL) 15.47% Au 30 [Total 7302 (8) Unsecured Loans |amount outstanding Sr.No, |Nameof Lender Inateoftnterest {In € Lakhs) alance Tenure 7 [Baja Finance T7506 as = [3 ore irs anita 19.00%6| 750 13 4 lls Capital Services Pavato Lined 17,00%| 657 7 5 [Deutsche Banke 18.50% 738 5. 7 [Fullerton india Cred Limited 7.00% 955) 15 8 [HDF Bank Ltd 16.00% 430, i 9 |indostar Capital Rance Ltd 18.5006 1458 20 0 [indusind Bank Ltd 10.50% 2286 28 “11 [Kotak Mahindra Bank Lad 16.00%6| 200 3 Ta [Neogrowth Credit Private imited 16.00%6| 737 7 74 _[RBLLed 10.50%| 70L 6 45 [Shri Ram City Union Finance Da 16.0054| 954, a 16 [standard Chareered Bank Ltd 13,008 1845 16 9 [Vata Capreal Limited 70.5004 OL i Total 1337,7 Hypothecatlon of Ofice No : 608/609 and 314 ~ iaman Corporate Highs ‘Nr Ramndevpir BRTS Bus stop Old Vado} Ahmedabad oujarat360013 ‘A Working Capital faclities from Bank of Baroda is secured by: \Hypothecation of flloring Director’ property: Ponts. 202, Phase 1, Adarsh Palin Meadows Layout, Nallurahall, Ramagondanshalli Dhakate, HAL Airport, White fellé Road Bangalre- 560066, 'B. Working Capital Loans from T]8B Sabkari Bank s secured by: {- Hypothection of Stock & Book Debts ii. Mypothecation of following Director’ property: Rot A2 2044 4th feo, shoba dll, ellundur village Bangalore TAR No.z0e, 2nd floor, Agam Tower, Vateaya Co-operative Society, Bodakdev, Ahmedabad “apt 4123, 12th floor, 5 Prestige Notingill Apartments, Near Meenakshi temple, ‘Bannerghatta Road Bangalore .ank Guarantee and Letter of Credit(LO) from Bank of baroda is secured by: 1. 20% Margin n xed Deposts and Ti Rest by Stock & Book debts purchased / raised out of LC Bank Guarantee and Letter of Credit from T)SB Sahkari Bank s secured by: 1.15% Margin Fed Deposits nd Ii Restby Stack & Book debts NOTE20; OPERATING LEASE Disclosure for company aslessee: “The Company has entered into operating ease, havinga lease period ofS years, with n option renew the lease ‘The future mindnaum leas are as follows An Laks) - TsondistNarch Ason sist March caus 2022 2o2 Notlater than one year 1652 10.82 tater than one year and not ater than five years 6610 1082 Later than five years 0.00 000 yn GL Rie oot, Se Dyess a esd eee tee [NOTE 29: ACTIVITY IN FOREIGN CURRENCY (intakis) ‘Aeon Fist March Axon Sist March lars Paes 2022 2024 ‘Expenditure in foreign currency Import of Goods ay03 76079 Import of Services 0.00 00 19565 TeasINSOLARE ENERGY PRIVATE LIMITED Nove 20 : THE COMPANY HAS PROVIDED FOR EMPLOYEE BENEFITS ASPEN ACCOUNTING STANDARD (AS) - 15 IN MoE ca NINEETTPLAN (GRATUTTYAND LONG TERM COMPENSATED ABSENCE) ty Deseptn ofthe company's defined benefit plan ) Despont corp fo a an or pymen of post employment bees intern atl The Company oper ecertsunder the plan are based on ay andeats of ervienandare vested oh an are Eee oer ae proved nthe ayent of ratty A 1972, Theta fe completion off year of oloees ofthe compan. arpresen te Company yet to make the rege Conrbuton toa Gray Trust Fund 1) Reconiiaton in respect of the changes inthe Present value ofthe ob (an8 Laks) Gratuity, Teave Encashment ee om | 2021 Boze [2024 Present Value of the obligation atthe beginning of naz 33232888 2178 Current service cost ago 1781 0.00 1299 Prior service cost 48.13 0.00 Interest Cost 5.06 228 152 Benefits paid 028 342 041 Actuarial (gins) / losses 00212-1512, 9.99 Present vale of the Obligation atthe end a ene a7s7__71.42___10.75 25.88 of the year the yer justment of Benefits paid during the year isadjusted with the Gurren service cost, which was not part ofthe acturial valuation. «The total expenses recognized inthe statement of Proft and Loss sas follows: (an Lakhs) 5 Gratiy Teave Encashment eas Zone _|__2021 | 2022 2024 Current service cost 14801781 0.00 1299 Prior service cost 40.13 0.00 Interest Cost 506 228 0.00 182 Expected return on plan assets 028 0.00 Net Actartal (Gain) / Loss recognized inthe year 002121152 299 ae ne SutanantofPeationd Lass 2st as S42 A 4) Net Aas (Liability) Recognised in Balance Sheet (an Lakhs) Salas Gramally Teave Encashment Eaves 20m __|_2028 zoz2 | 2024 Present Value of the obligation atthe end of the year sr 1a 1008 2588 Fair Value of pan assets as atthe end of the year 0.00 0.00 Funded Status [Surplus/(Defict)] “nsy | -Td— 10.75 2588 Snceoo of Actual over estimated Tipp pp eees oy mccroem sna} Tt Liability recognised in Balance Shee as 2 sLiabilty recognised in BalanceSheetas atMarch31 gry -gu.g__-1075 ae ) Principal actuarial assumptions used as at ‘the balance sheet date: Particulars Gratuity CP) ‘eave Eneashment (2) 2022 | 2021 | _ 2022 2021 Discount Rate (per annum) 725% 712% =—-728% = TAT Salary Escalation rate 700% 7.00% 7.00% += 7.00% Atrtion rate 5.00% «5.00% © 5.00% «5.00% 0.00% 0.00% = 0.00% 0.00%INSOLARE ENERGY PRIVATE LIMITED NOTE 31: RELATED PARTIES’ DISCLOSURE UNDER ACCOUNTING STANDARD (AS) - 19 ‘The list of related parties as identified by the managementare as under () Names of related parties and description of relationship : a. Key Management Personnel / Promoters Mr. Sunit Dharamveer Tyagi ‘Mr. Navashil Sharma Mr. Gopal Chandra Samanta ‘Mr. Hemanshu Bhatt Mr. Dipakkumar Ambalal Patel b. Other Related Parties (Includes entities in which the Directors are interested) Igren Energy Private Limited Subsidiaries Insolare2 Energy Private Limiatd ‘The remuneration to key management personnel does not include the provision made for Gratuity as they are determined on an actuarial basis for the company as a whole. NOTE.32 Since the company has only one Segment {e. Solar installation and related works, Segment reporting is not applicable.