SUN - MOBILITY - PRIVATE - LIMITED - 2022-23 - Financial Statement - XML

SUN MOBILITY PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2022 to 31/03/2023
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
SUN MOBILITY PRIVATE
Name of company LIMITED
Corporate identity number U35100KA2016PTC124376
Permanent account number of entity AAXCS9197C
No.25, DoddaNekundi
Industrial Area,
Mahadevapura post,
Address of registered office of company Whitefield Main Road,
Bangalore, Karnataka,
560048, India
Commercial and
Type of industry Industrial
Registration date 14/12/2016
Company limited by Shares
Category/sub-category of company / Non-govt Company
Whether company is listed company No
Date of board meeting when final accounts were approved 28/09/2023
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2022 01/04/2021
Date of end of reporting period 31/03/2023 31/03/2022
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other
No
relevant books and papers in electronic form
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] Column1 Column2
01/04/2022 01/04/2022
to to
31/03/2023 31/03/2023
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 8507 9983
Smart batteries,
Quick interchange Engineering support
Description of product or service category station and related services
products
Turnover of product or service category 17,960.39 4,881.87
Highest turnover contributing product or service (ITC 8 digit) code 85076000 99833290
Smart batteries,
Quick interchange Engineering support
Description of product or service station and related services
products
Turnover of highest contributing product or service 17,960.39 4,881.87
SUN MOBILITY PRIVATE LIMITED Standalone Financial Statements for period 01/04/2022 to 31/03/2023
[400400] Disclosures - Directors report
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis
Transaction1 Transaction2 Transaction3 Transaction4
[Axis]
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Maini Plastics &
Sun Mobility Pte Sun Mobility Pte
Name of related party Ltd
Composites Private
Ltd
Gallery G
Limited
Private company in
Firm in which
which a director or
director, manager or
Nature of related party relationship Holding company manager or his Holding company
his relative is a
relative is a member
partner
or director
Details of material
contracts/arrangements/transactions at arm's
length basis [Abstract]
Details of material
length basis [LineItems]
Maini Plastics &
Sun Mobility Pte Sun Mobility Pte
Name of related party Ltd
Composites Private
Ltd
Gallery G
Limited
Private company in
Firm in which
which a director or
Nature of related party relationship Holding company manager or his Holding company
his relative is a
relative is a member
partner
or director
Description of nature of material
Purchase of
contracts/arrangements/transactions with Sale of Goods
manufactured goods
Sale of services Other Expenses
related party
Duration of material
contracts/arrangements/transactions with Ongoing Ongoing Ongoing Ongoing
related party
Dates of approval of material
contracts/arrangements/transactions with 10/03/2022 10/03/2022 10/03/2022
related party by board
Amount paid as advances if any for material
contracts/arrangements/transactions with 0 0 0 0
related party
2

[Axis]
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
SUN Mobility EV SUN Mobility EV SUN Mobility EV
VIRYA Mobility
Name of related party 5.0 LLP
Infra Private Infra Private Infra Private
Limited Limited Limited
Private company in Private company in Private company in
Firm in which
which a director or which a director or which a director or
Nature of related party relationship his relative is a
manager or his manager or his manager or his
relative is a member relative is a member relative is a member
partner
or director or director or director
Details of material
Details of material
SUN Mobility EV SUN Mobility EV SUN Mobility EV
VIRYA Mobility
Name of related party 5.0 LLP
Infra Private Infra Private Infra Private
Limited Limited Limited
Firm in which
Nature of related party relationship his relative is a
manager or his manager or his manager or his
partner
Description of nature of material
Purchase of traded Sale of Service -
contracts/arrangements/transactions with goods
Sale of goods Other expenses
AMC
related party
related party
contracts/arrangements/transactions with 10/03/2022 10/03/2022 10/03/2022 10/03/2022
contracts/arrangements/transactions with 0 0 0 0
related party
3

[Axis]
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Sun Renewable SUN Mobility EV Maini Materials Maini Materials
Name of related party Energy Services Pvt Infra Private Movement Private Movement Private
Ltd Limited Limited Limited
Private company in Private company in Private company in Private company in
which a director or which a director or which a director or which a director or
Nature of related party relationship manager or his manager or his manager or his manager or his
relative is a member relative is a member relative is a member relative is a member
or director or director or director or director
Details of material
Details of material
Sun Renewable SUN Mobility EV Maini Materials Maini Materials
Name of related party Energy Services Pvt Infra Private Movement Private Movement Private
Ltd Limited Limited Limited
Private company in Private company in Private company in Private company in
which a director or which a director or which a director or which a director or
Nature of related party relationship manager or his manager or his manager or his manager or his
relative is a member relative is a member relative is a member relative is a member
or director or director or director or director
Description of nature of material Purchase of Purchase of
contracts/arrangements/transactions with Other expenses property, plant and property, plant and Other expenses
related party equipment equipment
related party
contracts/arrangements/transactions with 10/03/2022 10/03/2022 10/03/2022 10/03/2022
contracts/arrangements/transactions with 0 0
related party
4

[Axis]
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Armes Maini Bosch Automative Bosch Automative
Name of related party Storage Systems Bosch Limited Electronics India Electronics India
Private Limited Pvt. Ltd. Pvt. Ltd.
Public company in
which a director or
manager is a
director and holds
Nature of related party relationship manager or his
along with his
manager or his manager or his
relatives, more than
two per cent of its
paid-up share capital
Details of material
Details of material
Armes Maini Bosch Automative Bosch Automative
Name of related party Storage Systems Bosch Limited Electronics India Electronics India
Private Limited Pvt. Ltd. Pvt. Ltd.
Public company in
which a director or
manager is a
director and holds
Nature of related party relationship manager or his
along with his
manager or his manager or his
relatives, more than
two per cent of its
paid-up share capital
Description of nature of material Purchase of
Purchase of
contracts/arrangements/transactions with Property, plant and Other Expenses Sale of Goods
Manufactured goods
related party equipments
related party
contracts/arrangements/transactions with 10/03/2022
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] Sign1 Sign2
01/04/2022 01/04/2022
to to
31/03/2023 31/03/2023
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director Chetan Ajay
Middle name of director Kumar Kumar
Last name of director Maini Goel
Designation of director Director Director
Director identification number of director 01612229 06486418
Date of signing board report 28/09/2023 28/09/2023
5

01/04/2022
to
31/03/2023
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
During the financial year
2022-23, Board of
Disclosure relating to amounts if any which is proposed to carry to any
Directors do not propose
reserves to transfer any amount to
any Reserves.
Keeping in mind the
losses, the Board of
Disclosures relating to amount recommended to be paid as dividend Directors has not
recommended any dividend
for this year.
The Company continues
usage of LED bulbs and
lamps in both shop floor
Details regarding energy conservation and office area with Low
energy consumption.
Total power generated
during the year is Nil.
The Company has not
Details regarding technology absorption absorbed any technology.
Foreign Exchange Earning
: Rs. 4,955 Lakhs and
Details regarding foreign exchange earnings and outgo Foreign Exchange Outgo:
Rs. 11,428 Lakhs
Disclosures in director’s responsibility statement As per Directors Report
No material changes and
commitments affecting
the financial position
Details of material changes and commitment occurred during period
of the Company occurred
affecting financial position of company during the year under
review and also up to the
date of this report.
During the
financial year under
review, the Company has
not made any investment
Particulars of loans guarantee investment under section 186 [TextBlock] or granted any loan or
given guarantee in
connection with loans to
other body
corporate.
T h e
particulars of Contracts
or Arrangements made with
related parties pursuant
Particulars of contracts/arrangements with related parties under section
to Section 188 are
188(1) [TextBlock] furnished in Form AOC-2
and are attached to this
report as Annexure -
1.
Whether there are contracts/arrangements/transactions not at arm's

No
length basis
Whether there are material contracts/arrangements/transactions at
Yes
arm's length basis
Date of board of directors' meeting in which board's report referred
28/09/2023
to under section 134 was approved
Disclosure of extract of annual return as provided under section 92(3) Textual information (3)
[TextBlock] [See below]
The provision of
Section 149 for
Disclosure of statement on declaration given by independent directors appointment of
under section 149(6) [TextBlock] Independent Directors
is not applicable to the
Company.
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (5)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
6

Disclosure of financial summary or highlights [TextBlock] [See below]
Disclosure of change in nature of business [TextBlock] -
Details of directors or key managerial personnels who were Textual information (8)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during [See below]
year [TextBlock]
The Company has

neither accepted nor
Details relating to deposits covered under chapter v of companies act renewed any public
[TextBlock] deposits during the year
u n d e r
review.
Details of deposits which are not in compliance with requirements

-
of chapter v of act [TextBlock]
No significant
and material order has
Details of significant and material orders passed by been passed by any
regulators or courts or
regulators or courts or tribunals impacting going concern tribunals impacting the
status and company’s operations in future [TextBlock] going concern status and
company's
operations in future.
Details regarding adequacy of internal financial controls with Textual information (10)
reference to financial statements [TextBlock] [See below]
Disclosure of appointment and remuneration of managerial personnels

-
[TextBlock]
Disclosure of composition of audit committee and non-acceptance
of any recommendation of audit committee along with reasons [See below]
[TextBlock]
There are no frauds
Disclosure of report concerns about unethical behaviour, observed by the auditors
actual or suspected fraud or violation of company’s code of in pursuance to section
conduct or ethics policy [TextBlock] 143(12) of the Companies
Act, 2013.
Number of meetings of board 8
7
Disclosure in board of directors report explanatory [Text Block]

DIRECTORS' REPORT
To
The Members of SUN Mobility Private Limited
The Board of Directors of the Company are pleased to present their 7th (Seventh) Annual Report to the members on the business and
operations of the Company together with the audited financials for the financial year ended March 31, 2023 ("FY 2022-23").
1. FINANCIAL SUMMARY:
The Company's financial performance for the year under review is as given under:
(In Lakhs)
Sl. No Particulars 2022-23 2021-22
1 Total Revenue 25,777.51 6,337.90
2 Expenditure 30,325.01 8,255.37
3 Profit/(Loss) before Tax (4,547.50) (1,917.47)
4 Profit/(Loss) after Tax (4,400.64) (1,877.09)
2. STATE OF COMPANY'S AFFAIR:
During the year under review your Company has generated total revenue of Rs. 25,777.51 Lakhs and has incurred Loss After Tax of Rs.
4,400.64 Lakhs. Your directors are confident of achieving progressive results in the coming years.
The management is confident of expanding its business in coming months to various cities, customers & customer segments.
3. RESERVES & DIVIDEND:
During the financial year 2022-23, Board of Directors do not propose to transfer any amount to any Reserves.
Keeping in mind the losses, the Board of Directors has not recommended any dividend for this year.
4. MATERIAL CHANGES AND COMMITMENT AFFECTING THE FINANCIAL POSITION OF THE COMPANY:
No material changes and commitments affecting the financial position of the Company occurred during the year under review and also up to
the date of this report.
8
5. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
During the year under review and till the date of this report, the composition of the Board of Directors and Key Managerial Personnel (KMP)
are mentioned below:
Sl. No. Name of Director/KMP Designation
1. Mr. Chetan Kumar Maini Director
2. Mr. Ajay Kumar Goel Director
3. Mr. Sandeep Kumar Maini Director
4. Mr. Uday Harsh Khemka Director
5. Mr. Guruprasad Mudlapur Director
6. Mr. Jo Ming Joel Cheung Director
7. Mr. Anant Badjatya Chief Executive Officer
8. Mr. Subhash Bhat Chief Financial Officer
9. Ms. Pallavi Malik Company Secretary
None of the Directors of the Company are disqualified for being appointed as Director as specified in Section 164(2) of the Companies Act,
2013 read with Rule 14(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014.
6. NUMBER OF BOARD MEETINGS HELD DURING THE FINANCIAL YEAR 2022-23:
During the year, the Company had conducted eight (8) Board Meetings on 07th July 2022, 22nd September 2022, 16th January 2023, 27th
January 2023, 20th February 2023, 08th March 2023, 21st March 2023, 24th March 2023.
During the FY 2022-23, the attendance of the Directors at Board Meetings and at the last Annual General Meeting ("AGM") is provided
below:
Sl. No. Name of Directors Number of Board Meeting Attended Whether attended last AGM
1. Mr. Chetan Kumar Maini 7(8) Yes
2. Mr. Ajay Kumar Goel 7(8) Yes
9
3. Mr. Sandeep Kumar Maini 4(8) NA
4. Mr. Uday Harsh Khemka 3(8) NA
5. Mr. Guruprasad Mudlapur 4(8) NA
6. Mr. Jo Ming Joel Cheung 7(8) NA
7. RISK MANAGEMENT:
Your company is working on development of Risk Management Policies in various functional departments which covers identification of
elements of risk, if any, which according to the Board of Directors is necessary for prevention of operations of the Company.
8. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:
The Company does not have any Subsidiary, Joint venture or Associate Company.
9. HOLDING COMPANY:
The Company is a wholly-owned subsidary of Sun Mobility Pte. Ltd., Singapore.
10. COMPANY'S POLICY RELATING TO DIRECTORS' APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF
THEIR DUTIES
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and
hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Director's
qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies
Act, 2013.
11. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE
GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:
No significant and material order has been passed by any regulators or courts or tribunals impacting the going concern status and company's
operations in future.
12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
A) Conservation of Energy:
1. The steps taken or impact on conservation of energy:
The Company continues usage of LED bulbs and lamps in both shop floor and office area with Low energy consumption.
2. The steps taken by the company for utilising alternate sources of energy:
Total power generated during the year is Nil.
3. The capital investment on energy conservation equipment: Nil.
B) The Company has not absorbed any technology.
10
C) During the year, the Company has earned and incurred foreign exchange as per details given below:
Foreign Exchange Earning : Rs. 4,955 Lakhs
Foreign Exchange Outgo : Rs. 11,428 Lakhs
13. CORPORATE SOCIAL RESPONSIBILITY:
The provisions of Section 135 of the Companies Act, 2013 stating the terms relating to the Corporate Social Responsibility and policies
implemented are not applicable to the Company.
14. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT,
2013:
During the financial year under review, the Company has not made any investment or granted any loan or given guarantee in connection with
loans to other body corporate.
15. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013:
Your Company is committed to provide a work environment which ensures that every woman employee is treated with dignity, respect and
equality. There is zero-tolerance towards sexual harassment and any act of sexual harassment invites serious disciplinary action.
During the year under review, the Company has complied with the requirements of the above enactment and there was one case filed
pursuant to Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
16. DECLARATION OF INDEPENDENT DIRECTORS:
The provision of Section 149 for appointment of Independent Directors is not applicable to the Company.
17. DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility Statement:
a. in the preparation of the annual accounts for the year ended 31st March 2023, the applicable accounting standards had been followed;
b. accounting policies have been selected in consultation with the Statutory Auditors and been applied consistently and reasonable and
prudent judgments and estimates have been made so as to give a true and fair view of the state of affairs of the company as at 31st March
2023 and the profit and loss of the company for that period;
c. proper and sufficient care has been taken care for the maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
d. the annual accounts have been prepared on a going concern basis;
e. the Company being unlisted, sub clause (e) of section 134(3) of the Companies Act, 2013 pertaining to laying down internal financial
controls is not applicable to the Company; and
f. proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and
operating effectively.
18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:
The particulars of Contracts or Arrangements made with related parties pursuant to Section 188 are furnished in Form AOC-2 and are
11
attached to this report as Annexure - 1.
19. EXTRACT FOR ANNUAL RETURN:
Pursuant to section 92(3) read with Section 134(3) of the Companies Act,2013, the Annual Return as on 31st March 2023 is available on
Company's website at: https://www.sunmobility.com/investorinformation.html
20. DEPOSITS:
The Company has neither accepted nor renewed any public deposits during the year under review.
21. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:
The Company has proper and adeqaute system of internal controls to ensure that all assets are safegaurded and protected against loss from
unauthorized use or disposition, and those transaction are authorized, recorded and reported correctly and adequately.
The Internal Control is designed to ensure that financial and other records & processes are reliable for preparing financial information and for
maintaining accountability of assets. All the financial systems are also reviwed by the Board of Directors of the Company to examine the
adequacy and effectiveness of the internal control systems and also monitor implementation of the same.
22. REPORTING OF FRAUD BY AUDITORS:
There are no frauds observed by the auditors in pursuance to section 143(12) of the Companies Act, 2013.
23. DIRECTORS AND KEY MANAGERIAL PERSONNELS:
The Board is duly constituted with Mr. Chetan Kumar Maini, Mr. Sandeep Kumar Maini, Mr. Ajay Kumar Goel, Mr. Uday Harsh Khemka,
Mr. Guruprasad Mudlapur and Mr. Jo Ming Joel Cheung as Directors of the Company & Mr. Subhash Mohan Bhat as CFO, Mr. Anant
Badjatya as CEO and Ms. Pallavi Malik as Company Secretary of the Company.
24. STATUTORY AUDITORS:
Your Company's Statutory Auditors M/s Walker Chandiok & Co LLP, Chartered Accountants, (Firm Registration No. 001076N/N500013)
were appointed as statutory auditors of the company in the Annual General Meeting (AGM) held on 27th September, 2022, for a period of
five years from 2022-23 to 2026-27 at a remuneration and other terms and conditions as may be fixed by the Board of Directors pursuant to
the provisions of Section 139, 142 and other applicable provisions of the Companies Act, 2013.
26. AUDITORS' REPORT:
The Auditors' Report does not contain any qualification or reservation or disclaimer. Notes to Accounts and Auditors remarks in their report
are self-explanatory and do not call for any further comments.
27. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND VIGIL MECHANISM:
The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers)
Rules, 2013 is not applicable to the Company during the period under review.
28. CHANGES IN SHARE CAPITAL:
During the year under review, the Company has increased its Authorised Share Capital from Rs. 175,00,00,000/- (Rupees One- Hundred and
Seventy Five Crore only) divided into 17,50,00,000 (Seventeen Crore and Fifty Lakhs) equity shares of Rs. 10/- each to Rs.285,00,00,000
(Rupees Two Hundred and Eight-Five Crores only) divided into Rs. 28,50,00,000 (Twenty-Eight Crores Fifty Lakhs) equity shares of Rs.
10/- each.
29. STATEMENT OF INVESTOR EDUCATION AND PROTECTION FUND:
The Company did not have any funds lying unpaid or unclaimed for period of 7 years. Therefore, there were no funds which are required to
12
be transferred to Investor Education and Protection Fund.
30. MAINTENANCE OF COST RECORDS:
The Company is required to maintain cost records as specified by the Central Government during the period under review.
31. PROCEEDINGS PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE
There are no such proceedings or appeals pending and no application has been filed under Insolvency and Bankruptcy Code, 2016 during the
year under review and from the end of the financial year upto the date of this report.
32. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE-TIME SETTLEMENT
AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
During the year under review, the Company has availed loans from the Banks/ Financial Institutions. However, there was no instance of any
one-time settlement for reporting details vis-a-vis Valuation.
33. COMPLIANCE WITH SECRETARIAL STANDARDS
Pursuant to Para 9 of SS-1, the Directors confirm that the Company has complied with the applicable Secretarial Standards including SS-1
(Secretarial Standard on Meetings of Board of Directors) and SS-2 (Secretarial Standard on General Meetings).
34. GENERAL:
Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions that took place
in respect of them during the year under review:
The Company has not:
(a) bought back any of its securities during the year under review.
(b) issued any Sweat Equity Shares during the year under review.
(c) issued Bonus Shares during the year under review.
(d) provided any Stock Option Scheme to the employees.
35. ACKNOWLEDGEMENT:
Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their
continued support extended to your Companies activities during the year under review. Your Directors also acknowledges gratefully to the
shareholders for their support and confidence reposed on your Company.
By Order of the Board of Directors

For Sun Mobility Private Limited
Chetan Kumar Maini Ajay Kumar Goel

Director Director
DIN: 01612229 DIN: 06486418
Place: Bangalore
Date: 28.09.2023
13
Annexure-1
FORM NO AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in Sub-section (1) of
Section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto
1. Details of contracts or arrangements or transactions not at arm's length basis:
Date on which
Name of the Special
Nature of Salient of the Justification for
the Duration of resolution was
contracts/ contracts or entering into Date of Amount
related the contracts passed in
Sl. arrange arrang ements such contracts approval paid as
party and / General
No ments / or transactions or arrange by the advances,
nature of Arrangements Meeting as
Trans including the ments or Board if any
relation / transaction required under
action value, if any transactions
ship first proviso to
section 188
NA NA NA NA NA NA NA NA
2. Details of material contracts or arrangement or transactions at arm's length basis:
Transaction
Nature of Duration of Date(s) of Amount
Value Incl.
Sl. Name(s) of the Nature of contracts/ contracts/ approval by paid as
Taxes.
No related party relationship arrangements/ arrangements/ the Board, if advances,
transactions transactions any if any
(In Rs)
Maini Plastics & Purchase of

Interested
1. Composites manufactured Ongoing 296,000 10.03.2022
Directors
Private Limited goods
SUN Mobility Pte. Interested

2. Service Income Ongoing 488,187,000 10.03.2022
Ltd. Directors
Sale of Goods 7,275,000 -
Relative of
3. Gallery G Other Expenses Ongoing 377,000 10.03.2022
Directors
VIRYA Mobility Interested Purchase of

4. Ongoing 246,437,010 10.03.2022
5.0 LLP Directors traded goods
SUN Mobility EV
Interested
5. Infra Private Sale of Goods Ongoing 1,663,933,000 10.03.2022
Directors
Limited
14
Purchase of
property, plant Ongoing 19,918,000
and equipment
Other Expenses Ongoing 47,875,375
Service Income -
Ongoing 24,594,000
AMC
Sun Renewables
Interested
6. WH Private Other Expenses Ongoing 1,100,000 10.03.2022
Directors
Limited
Maini Materials Purchase of

Interested
7. Movement property, plant Ongoing 617,000 10.03.2022
Directors
Private Limited and equipment
Other Expense Ongoing 161,000 10.03.2022
Armes Maini Purchase of

Interested
8. Storage Systems Property, plant Ongoing 3,015,000 10.03.2022
Director
Private Limited and equipments
Interested
9. Bosch Limited Other Expenses Ongoing 1,301,000 -
Directors
Bosch
Automative Interested
10. Sale of Goods Ongoing 20,679,000 -
Electronics India Directors
Pvt. Ltd.
Purchase of
Manufactured Ongoing 164,798,000
goods
By Order of the Board of Directors

For Sun Mobility Private Limited
Chetan Kumar Maini Ajay Kumar Goel

Director Director
DIN: 01612229 DIN: 06486418
Place: Bangalore
Date: 28.09.2023
15
Description of state of companies affair

During the year under review your Company has generated total revenue of Rs. 25,777.51 Lakhs and has incurred Loss After Tax of Rs.
4,400.64 Lakhs. Your directors are confident of achieving progressive results in the coming years. The management is confident of
expanding its business in coming months to various cities, customers & customer segments.
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
Pursuant to section 92(3) read with Section 134(3) of the Companies Act,2013, the Annual Return as on 31st March 2023 is available on
Company's website at: https://www.sunmobility.com/investorinformation.html
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including
other matters provided under section 178(3) [Text Block]
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and
hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Director's
qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies
Act, 2013.
Disclosure of statement on development and implementation of risk management policy [Text Block]
Your company is working on development of Risk Management Policies in various functional departments which covers identification of
elements of risk, if any, which according to the Board of Directors is necessary for prevention of operations of the Company.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The provisions of Section 135 of the Companies Act, 2013 stating the terms relating to the Corporate Social Responsibility and policies
implemented are not applicable to the Company.
16
Disclosure of financial summary or highlights [Text Block]
(In Lakhs)
Sl. No Particulars 2022-23 2021-22
1 Total Revenue 25,777.51 6,337.90
2 Expenditure 30,325.01 8,255.37
3 Profit/(Loss) before Tax (4,547.50) (1,917.47)
4 Profit/(Loss) after Tax (4,400.64) (1,877.09)
17
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
- During the year under review and till the date of this report, the composition of the Board of Directors and Key Managerial Personnel
(KMP) are mentioned below:
Sl. No. Name of Director/KMP Designation
1. Mr. Chetan Kumar Maini Director
2. Mr. Ajay Kumar Goel Director
3. Mr. Sandeep Kumar Maini Director
4. Mr. Uday Harsh Khemka Director
5. Mr. Guruprasad Mudlapur Director
6. Mr. Jo Ming Joel Cheung Director
7. Mr. Anant Badjatya Chief Executive Officer
8. Mr. Subhash Bhat Chief Financial Officer
9. Ms. Pallavi Malik Company Secretary
None of the Directors of the Company are disqualified for being appointed as Director as specified in Section 164(2) of the Companies Act,
2013 read with Rule 14(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014.
- The Board is duly constituted with Mr. Chetan Kumar Maini, Mr. Sandeep Kumar Maini, Mr. Ajay Kumar Goel, Mr. Uday Harsh Khemka,
Mr. Guruprasad Mudlapur and Mr. Jo Ming Joel Cheung as Directors of the Company & Mr. Subhash Mohan Bhat as CFO, Mr. Anant
Badjatya as CEO and Ms. Pallavi Malik as Company Secretary of the Company.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
- The Company does not have any Subsidiary, Joint venture or Associate Company.
- The Company is a wholly-owned subsidary of Sun Mobility Pte. Ltd., Singapore.
18
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
The Company has proper and adeqaute system of internal controls to ensure that all assets are safegaurded and protected against loss from
unauthorized use or disposition, and those transaction are authorized, recorded and reported correctly and adequately.
The Internal Control is designed to ensure that financial and other records & processes are reliable for preparing financial information and for
maintaining accountability of assets. All the financial systems are also reviwed by the Board of Directors of the Company to examine the
adequacy and effectiveness of the internal control systems and also monitor implementation of the same.
Disclosure of composition of audit committee and non-acceptance of any recommendation of audit committee
along with reasons [Text Block]
The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers)
Rules, 2013 is not applicable to the Company during the period under review.
19
[400200] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2022 01/04/2022
to to
31/03/2023 31/03/2023
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Disclosure in auditors report relating to fixed assets As Stated below
Textual information
Disclosure relating to quantitative details of fixed assets (12) [See below]
Disclosure relating to physical verification and material discrepancies of fixed Textual information
assets (13) [See below]
Textual information
Disclosure relating to title deeds of immovable properties (14) [See below]
Textual information
Disclosure in auditors report relating to inventories (15) [See below]
Textual information
Disclosure in auditors report relating to loans (16) [See below]
The Company has
not entered into any
transaction covered
under Sections 185
and 186 of the
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act,
Companies Act, 2013 2013. Accordingly,
reporting under
clause 3(iv) of the
Order is not
applicable to the
Company.
Textual information
Disclosure in auditors report relating to deposits accepted (17) [See below]
Textual information
Disclosure in auditors report relating to maintenance of cost records (18) [See below]
Disclosure in auditors report relating to statutory dues [TextBlock] As Stated Below
Disclosure relating to regularity in payment of undisputed statutory dues Textual information

[TextBlock] (19) [See below]
Textual information
Disclosure relating to disputed statutory dues [TextBlock] (20) [See below]
According to the
information and
explanations given
to us, the Company
has not defaulted in
Disclosure in auditors report relating to default in repayment of financial dues repayment of its
loans or borrowings
or in the payment of
interest thereon to
any lender.
Disclosure in auditors report relating to public offer and term loans used for Textual information
purpose for which those were raised (21) [See below]
Disclosure in auditors report relating to fraud by the company or on the Textual information
company by its officers or its employees reported during period (22) [See below]
Disclosure in auditors report relating to managerial remuneration -
The Company is not
a Nidhi Company
and the Nidhi Rules,
2014 are not
applicable to it.
Disclosure in auditors report relating to Nidhi Company Accordingly,
reporting under
clause 3(xii) of the
Order is not
applicable to the
Company.
Textual information
Disclosure in auditors report relating to transactions with related parties (23) [See below]
20
Disclosure in auditors report relating to preferential allotment or private Textual information

placement of shares or convertible debentures (24) [See below]
Disclosure in auditors report relating to non-cash transactions with directors Textual information
or persons connected with him (25) [See below]
Disclosure in auditors report relating to registration under section 45-IA of Textual information
Reserve Bank of India Act, 1934 (26) [See below]
Details regarding auditors [Table] ..(1)

Auditors [Axis] Sign
01/04/2022
to
31/03/2023
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Walker Chandiok &
Name of audit firm Co LLP
MAHESHWARI
Name of auditor signing report HEMANT
Firms registration number of audit firm 001076N/N500013
Membership number of auditor 096537
Address of auditors Bengaluru
Permanent account number of auditor or auditor's firm AAAFW4298E
SRN of form ADT-1 F28477792
Date of signing audit report by auditors 28/09/2023
Date of signing of balance sheet by auditors 28/09/2023

01/04/2022
to
31/03/2023
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Disclosure relating to quantitative details of fixed assets

(A) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and
equipment and (B) The Company has maintained proper records showing full particulars of intangible assets.
Disclosure relating to physical verification and material discrepancies of fixed assets

The Company has a regular programme of physical verification of its property, plant and equipment under which the assets are physically
verified in a phased manner over a period of 3 years, which in our opinion, is reasonable having regard to the size of the Company and the
nature of its assets. In accordance with this programme, certain property, plant and equipment were verified during the year and no material
discrepancies were noticed on such verification.
Disclosure relating to title deeds of immovable properties

The Company does not own any immovable property (other than properties where the Company is the lessee and the lease agreements are
duly executed in favour of the lessee). Accordingly, reporting under clause 3(i)(c) of the Order is not applicable to the Company.
21
Disclosure in auditors report relating to inventories

The Management has conducted physical verification of inventory at reasonable intervals during the year, except for goods in transit and
inventory lying with third parties. In our opinion, the coverage and procedure of such verification by the Management is appropriate and no
discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to book records. In respect of inventory
lying with third parties, these have substantially been confirmed by the third parties.
Disclosure in auditors report relating to loans

The Company has not made any investment in, provided any guarantee or security or granted any loans or advances in the nature of loans,
secured or unsecured to companies, firms, Limited Liability Partnerships (LLPs) or any other parties during the year. Accordingly, reporting
under clause 3(iii) of the Order is not applicable to the Company.
Disclosure in auditors report relating to deposits accepted

In our opinion, and according to the information and explanations given to us, the Company has not accepted any deposits or there are no
amounts which have been deemed to be deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance of
Deposits) Rules, 2014 (as amended). Accordingly, reporting under clause 3(v) of the Order is not applicable to the Company.
Disclosure in auditors report relating to maintenance of cost records

The Central Government of India has specified maintenance of cost records under sub-section (1) of Section 148 of the Act in respect of the
products of the Company. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by the
Central Government of India for the maintenance of cost records and are of the opinion that, prima facie, the prescribed accounts and records
have been made and maintained. However, we have not made a detailed examination of the cost records with a view to determine whether
they are accurate or complete.
Disclosure relating to regularity in payment of undisputed statutory dues [Text Block]

In our opinion, and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues
including goods and services tax, provident fund, employees' state insurance, income-tax, duty of customs, and other material statutory dues,
as applicable, with the appropriate authorities. Further, no undisputed amounts payable in respect thereof were outstanding at the year-end for
a period of more than six months from the date they became payable.
Disclosure relating to disputed statutory dues [Text Block]

According to the information and explanations given to us, there are no statutory dues referred to in subclause (a) above that have not been
deposited with the appropriate authorities on account of any dispute.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
The Company has not raised any money by way of initial public offer or further public offer (including debt instruments), during the year.
Accordingly, reporting under clause 3(x)(a) of the Order is not applicable to the Company.
22
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no material fraud
on the Company has been noticed or reported during the period covered by our audit.
Disclosure in auditors report relating to transactions with related parties

In our opinion and according to the information and explanations given to us, all transactions entered into by the Company, with the related
parties are in compliance with Section 188 of the Act. The details of such related party transactions have been disclosed in the financial
statements etc., as required under Accounting Standard (AS) 18, Related Party Disclosures specified in Companies (Accounting Standards)
Rules, 2021 as prescribed under Section 133 of the Act as prescribed under Section 133 of the Act. Further, according to the information and
explanations given to us, the Company is not required to constitute an audit committee under Section 177 of the Act.
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or (fully, partially or optionally) convertible debentures during the
year. Accordingly, reporting under clause 3(x)(b) of the Order is not applicable to the Company.
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
According to the information and explanation given to us, the Company has not entered into any non-cash transactions with its directors or
persons connected with its directors and accordingly, reporting under clause 3(xv) of the Order with respect to compliance with the
provisions of Section 192 of the Act are not applicable to the Company.
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934
The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, reporting under
clauses 3(xvi)(a),(b) and (c) of the Order are not applicable to the Company.
23
Disclosure in auditor’s report explanatory [Text Block]

Independent Auditor's Report
To
the Members of Sun Mobility Private Limited
Report on the Audit of the Financial Statements
Opinion
1. We have audited the accompanying financial statements of Sun Mobility Private Limited ('the Company'), which comprise the Balance
Sheet as at 31 March 2023, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and notes to the financial
statements, including a summary of the significant accounting policies and other explanatory information.
2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the
information required by the Companies Act, 2013 ('the Act') in the manner so required and give a true and fair view, in conformity with the
Accounting Standards specified under Section 133 of the Act, read with the Companies (Accounting Standards) Rules, 2021 and other
accounting principles generally accepted in India, of the state of affairs of the Company as at 31 March 2023, its loss and its cash flows for
the year ended on that date.
Basis for Opinion
3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Our responsibilities
under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements 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 ('ICAI')
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 believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Information other than the Financial Statements and Auditor's Report thereon
4. The Company's Board of Directors are responsible for the other information. The other information comprises the information included in
the Director's Report, but does not include the financial statements and our auditor's report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether
the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to
be materially misstated.
The Director's report is not made available to us at the date of this auditor's report. We have nothing to report in this regard.
Responsibilities of Management for the Financial Statements
5. The accompanying financial statements have been approved by the Company's Board of Directors. The Company's Board of Directors are
responsible for the matters stated in Section 134(5) of the Act with respect to the preparation and presentation of these standalone financial
statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with
the Accounting Standards specified under Section 133 of the Act, read with and other accounting principles generally accepted in India. 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 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 financial statements that give a true and fair view and are free from material misstatement, whether due to
fraud or error.
24
6. In preparing the financial statements, the Board of Directors are responsible for assessing the Company's ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of
Directors either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
7. Our objectives are to obtain reasonable assurance about whether the financial statements 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 a high level of assurance, but
is not a guarantee that an audit conducted in accordance with Standards on Auditing 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, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
8. As part of an audit in accordance with Standards on Auditing specified under Section 143(10) of the Act, we exercise professional
judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, 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 control;
- 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 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 made by
Management;
- Conclude on the appropriateness of 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 Company's ability to
continue as a going concern. 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 financial statements 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; and
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial
statements represent the underlying transactions and events in a manner that achieves fair presentation.
9. 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.
Report on Other Legal and Regulatory Requirements
10. Based on our audit, we report that the provisions of Section 197 read with Schedule V to the Act are not applicable to the Company since
the Company is not a Public Company as defined under Section 2(71) of the Act. Accordingly, reporting under Section 197(16) is not
applicable.
11. As required by the Companies (Auditor's Report) Order, 2020 ('the Order') issued by the Central Government of India in terms of Section
143(11) of the Act, we give in the Annexure I a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent
applicable.
12. Further to our comments in Annexure I, as required by Section 143(3) of the Act, based on our audit, we report, to the extent applicable,
that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit of the accompanying standalone financial statements;
b) in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of
those books;
25
c) The financial statements dealt with by this report are in agreement with the books of account;
d) in our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act read with
the Companies (Accounting Standards) Rules, 2021;
e) On the basis of the written representations received from the directors and taken on record by the Board of Directors, none of the directors
is disqualified as on 31 March 2023 from being appointed as a director in terms of Section 164(2) of the Act;
f) With respect to the adequacy of the internal financial controls with reference to financial statements of the Company as on 31 March 2023
and operating effectiveness of such controls, refer to our separate Report in Annexure II wherein we have expressed an unmodified opinion;
and
g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014 (as amended), in our opinion and to the best of our information and according to the explanations given to us:
i. the Company, as detailed in note 30 to the financial statements, has disclosed the impact of pending litigation on its financial position as at
31 March 2023;
ii. the Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as at
31 March 2023;
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the
year ended 31 March 2023;
iv. a. The Management has represented that, to the best of its knowledge and belief, as disclosed in note 33 to the financial statements, no
funds have been advanced or loaned or invested (either from borrowed funds or securities premium or any other sources or kind of funds) by
the Company to or in any person(s) or entity(ies), including foreign entities ('the intermediaries'), with the understanding, whether recorded in
writing or otherwise, that the intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company ('the Ultimate Beneficiaries') or provide any guarantee, security or the like on behalf the
Ultimate Beneficiaries;
b. The Management has represented that, to the best of its knowledge and belief, as disclosed in note 33 to the financial statements, no funds
have been received by the Company from any person(s) or entity(ies), including foreign entities ('the Funding Parties'), with the
understanding, whether recorded in writing or otherwise, that the Company shall, whether 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 provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries; and
c. Based on such audit procedures performed as considered reasonable and appropriate in the circumstances, nothing has come to our notice
that has caused us to believe that the Management representations under sub-clauses (a) and (b) above contain any material misstatement.
v. The Company has not declared or paid any dividend during the year ended 31 March 2023; and
vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 requires all companies which use accounting software for maintaining
their books of account, to use such an accounting software which has a feature of audit trail, with effect from the financial year beginning on
1 April 2023 and accordingly, reporting under Rule 11(g) of Companies (Audit and Auditors) Rules, 2014 (as amended) is not applicable for
the current financial year.
For Walker Chandiok & Co LLP

Chartered Accountants
Firm's Registration No.: 001076N/N500013
Hemant Maheshwari
Partner
Membership No.: 096537
UDIN: 23096537BGVETX7143
Bengaluru
28 September 2023
26
Annexure I referred to in Paragraph 11 of the Independent Auditor's Report of even date to the members of Sun Mobility Private Limited on
the financial statements for the year ended 31 March 2023
In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us
in the normal course of audit, and to the best of our knowledge and belief, we report that:
(i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant
and equipment
(B) The Company has maintained proper records showing full particulars of intangible assets.
(b) The Company has a regular programme of physical verification of its property, plant and equipment under which the assets are physically
verified in a phased manner over a period of 3 years, which in our opinion, is reasonable having regard to the size of the Company and the
nature of its assets. In accordance with this programme, certain property, plant and equipment were verified during the year and no material
discrepancies were noticed on such verification.
(c) The Company does not own any immovable property (other than properties where the Company is the lessee and the lease agreements are
duly executed in favour of the lessee). Accordingly, reporting under clause 3(i)(c) of the Order is not applicable to the Company.
(d) The Company has not revalued its Property, Plant and Equipment or intangible assets during the year.
(e) No proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami
Property Transactions Act, 1988 (as amended) and rules made thereunder.
(ii) (a) The Management has conducted physical verification of inventory at reasonable intervals during the year, except for goods in transit
and inventory lying with third parties. In our opinion, the coverage and procedure of such verification by the Management is appropriate and
no discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to book records. In respect of
inventory lying with third parties, these have substantially been confirmed by the third parties.
(b) The Company has not been sanctioned working capital limits by banks or financial institutions on the basis of security of current assets at
any point of time during the year. Accordingly, reporting under clause 3(ii)(b) of the Order is not applicable to the Company.
(iii) The Company has not made any investment in, provided any guarantee or security or granted any loans or advances in the nature of
loans, secured or unsecured to companies, firms, Limited Liability Partnerships (LLPs) or any other parties during the year. Accordingly,
reporting under clause 3(iii) of the Order is not applicable to the Company.
(iv) The Company has not entered into any transaction covered under Sections 185 and 186 of the Companies Act, 2013. Accordingly,
reporting under clause 3(iv) of the Order is not applicable to the Company.
(v) In our opinion, and according to the information and explanations given to us, the Company has not accepted any deposits or there are no
amounts which have been deemed to be deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance of
Deposits) Rules, 2014 (as amended). Accordingly, reporting under clause 3(v) of the Order is not applicable to the Company.
(vi) The Central Government of India has specified maintenance of cost records under sub-section (1) of Section 148 of the Act in respect of
the products of the Company. We have broadly reviewed the books of account maintained by the Company pursuant to the Rules made by
the Central Government of India for the maintenance of cost records and are of the opinion that, prima facie, the prescribed accounts and
records have been made and maintained. However, we have not made a detailed examination of the cost records with a view to determine
whether they are accurate or complete.
(vii)(a) In our opinion, and according to the information and explanations given to us, the Company is regular in depositing undisputed
statutory dues including goods and services tax, provident fund, employees' state insurance, income-tax, duty of customs, and other material
statutory dues, as applicable, with the appropriate authorities. Further, no undisputed amounts payable in respect thereof were outstanding at
the year-end for a period of more than six months from the date they became payable.
(b) According to the information and explanations given to us, there are no statutory dues referred to in subclause (a) above that have not
been deposited with the appropriate authorities on account of any dispute.
(viii) According to the information and explanations given to us, no transactions were surrendered or disclosed as income during the year in
27
the tax assessments under the Income Tax Act, 1961 (43 of 1961) which have not been previously recorded in the books of accounts.
(ix) (a) According to the information and explanations given to us, the Company has not defaulted in repayment of its loans or borrowings or
in the payment of interest thereon to any lender.
(b) According to the information and explanations given to us including confirmations received from banks/ financial institution and other
lenders and representation received from the Management of the Company, and on the basis of our audit procedures, we report that the
Company has not been declared a willful defaulter by any bank or financial institution or government or any government authority.
(c) In our opinion and according to the information and explanations given to us, money raised by way of term loans were applied for the
purposes for which these were obtained.
(d) In our opinion and according to the information and explanations given to us, the Company has not raised any funds on short term basis
during the year. Accordingly, reporting under clause 3(ix)(d) of the Order is not applicable to the Company.
(e) According to the information and explanations given to us, the Company does not have any subsidiaries, associates or joint ventures.
Accordingly, reporting under clause 3(ix)(e) and clause 3(ix)(f) of the Order is not applicable to the Company.
(x) (a) The Company has not raised any money by way of initial public offer or further public offer (including debt instruments), during the
year. Accordingly, reporting under clause 3(x)(a) of the Order is not applicable to the Company.
(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the
Company has not made any preferential allotment or private placement of shares or (fully, partially or optionally) convertible debentures
during the year. Accordingly, reporting under clause 3(x)(b) of the Order is not applicable to the Company.
(xi) (a) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no material
fraud on the Company has been noticed or reported during the period covered by our audit.
(b) According to the information and explanations given to us including the representation made to us by the Management of the Company,
no report under sub-section 12 of Section 143 of the Act has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of
Companies (Audit and Auditors) Rules, 2014, with the Central Government of India for the period covered by our audit.
(c) According to the information and explanations given to us including the representation made to us by the Management of the Company,
there are no whistle-blower complaints received by the Company during the year.
(xii) The Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it. Accordingly, reporting under clause 3(xii) of
the Order is not applicable to the Company.
(xiii) In our opinion and according to the information and explanations given to us, all transactions entered into by the Company, with the
related parties are in compliance with Section 188 of the Act. The details of such related party transactions have been disclosed in the
financial statements etc., as required under Accounting Standard (AS) 18, Related Party Disclosures specified in Companies (Accounting
Standards) Rules, 2021 as prescribed under Section 133 of the Act as prescribed under Section 133 of the Act. Further, according to the
information and explanations given to us, the Company is not required to constitute an audit committee under Section 177 of the Act.
(xiv) According to the information and explanations given to us, the Company is not required to and consequently, does not have an internal
audit system as per the provisions of Section 138 of the Act Accordingly, reporting under clause 3(xiv) of the Order is not applicable to the
Company.
(xv) According to the information and explanation given to us, the Company has not entered into any non-cash transactions with its directors
or persons connected with its directors and accordingly, reporting under clause 3(xv) of the Order with respect to compliance with the
provisions of Section 192 of the Act are not applicable to the Company.
(xvi) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, reporting
under clauses 3(xvi)(a),(b) and (c) of the Order are not applicable to the Company.
Based on the information and explanations given to us and as represented by the Management of the Company, the Group (as defined in Core
Investment Companies (Reserve Bank) Directions, 2016) does not have any CIC.
(xvii) The Company has incurred cash losses in the current financial year and in the immediately preceding financial years amounting to Rs.
28
3,475.90 lakhs and Rs. 1,634.16 lakhs respectively.
(xviii) There has been no resignation of the statutory auditors during the year. Accordingly, reporting under clause 3(xviii) of the Order is not
applicable to the Company.
(xix) According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of
realisation of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of
the plans of the Board of Directors and Management and based on our examination of the evidence supporting the assumptions , nothing has
come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report indicating that
Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year
from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that
our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities
falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.
(xx) According to the information and explanations given to us, the Company does not meet the criteria as specified under sub-section (1) of
Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 and according, reporting under clause
3(xx) of the Order is not applicable to the Company.
(xxi) The reporting under clause 3(xxi) of the Order is not applicable in respect of audit of standalone financial statements of the Company.
Accordingly, no comment has been included in respect of said clause under this report.

Hemant Maheshwari
Partner
Bengaluru
28 September 2023
Annexure II
Independent Auditor's Report on the internal financial controls with reference to the standalone financial statements under Clause (i) of
Sub-section 3 of Section 143 of the Companies Act, 2013 ('the Act')
1. In conjunction with our audit of the financial statements of Sun Mobility Private Limited ('the Company') as at and for the year ended 31
March 2023, we have audited the internal financial controls with reference to financial statements of the Company as at that date.
Responsibilities of Management for Internal Financial Controls
2. The Company's Board of Directors is responsible for establishing and maintaining internal financial controls based on the internal financial
controls with reference to financial statements criteria established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants
of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of the Company's business, including adherence to the Company's
policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting
records, and the timely preparation of reliable financial information, as required under the Act.
Auditor's Responsibility for the Audit of the Internal Financial Controls with Reference to Financial Statements
3. Our responsibility is to express an opinion on the Company's internal financial controls with reference to financial statements based on our
audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India
('ICAI') prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference to
financial statements, and the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting ('the Guidance Note') issued
29
by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements were established and
maintained and if such controls operated effectively in all material respects.
4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to
financial statements and their operating effectiveness. Our audit of internal financial controls with reference to financial statements includes
obtaining an understanding of such internal financial controls, assessing the risk that a material weakness exists, and testing and evaluating
the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's
judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's
internal financial controls with reference to financial statements .
Meaning of Internal Financial Controls with Reference to Financial Statements
6. A Company's internal financial controls with reference to financial statements is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A Company's internal financial controls with reference to financial statements include those policies and
procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are
being made only in accordance with authorisations of Management and directors of the Company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the Company's assets that could have a material
effect on the financial statements.
Inherent Limitations of Internal Financial Controls with Reference to Financial Statements
7. Because of the inherent limitations of internal financial controls with reference to financial statements, including the possibility of
collusion or improper Management override of controls, material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls with reference to financial statements to future periods are subject to the risk
that the internal financial controls with reference to financial statements may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Opinion
8. In our opinion, the Company has, in all material respects, adequate internal financial controls with reference to financial statements and
such controls were operating effectively as at 31 March 2023, based on the internal financial controls with reference to financial statements
criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal
Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India.

Hemant Maheshwari
Partner
Bengaluru
28 September 2023
[400500] Disclosures - Secretarial audit report

01/04/2022
to
31/03/2023
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company No
30
[100100] Balance sheet

31/03/2023 31/03/2022
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 27,638.74 12,291
Reserves and surplus -7,643.93 -3,295.95
Total shareholders' funds 19,994.81 8,995.05
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 8,736.98 1,132.16
Other long-term liabilities 0 0
Long-term provisions 557.61 257.33
Total non-current liabilities 9,294.59 1,389.49
Current liabilities [Abstract]
Short-term borrowings 3,653.17 471.85
Trade payables (A) 7,415.34

951.32
Other current liabilities 8,170.42 1,015.21

Short-term provisions 353.37 142.68
Total current liabilities 19,592.3 2,581.06
Total equity and liabilities 48,881.7 12,965.6
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 11,952.61 1,993.53
Intangible assets 48.79 28.11
Tangible assets capital work-in-progress 3,695.04 29.06
Total fixed assets 15,696.44 2,050.7
Non-current investments 0 0
Deferred tax assets (net) 283.2 155.98
Long-term loans and advances 1,053.46 481.57
Other non-current assets 774.45 0
Total non-current assets 17,807.55 2,688.25
Current assets [Abstract]
Current investments 0 0
Inventories 3,229.08 1,619.12
Trade receivables 21,840.09 1,856.52
Cash and bank balances 3,023.04 4,539.71
Short-term loans and advances 2,941.55 2,232.05
Other current assets 40.39 29.95
Total current assets 31,074.15 10,277.35
Total assets 48,881.7 12,965.6
Footnotes
(A) Trade payables - Total outstanding dues to micro and small enterprises (MSME) and Total outstanding dues other than micro
and small enterprises
31
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] Sign1 Sign2
01/04/2022 01/04/2022
to to
31/03/2023 31/03/2023
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director (A) CHETAN AJAY
Middle name of director KUMAR KUMAR
Last name of director MAINI GOEL
Designation of director Director Director
Director identification number of director 01612229 06486418
Date of signing of financial statements by director 28/09/2023 28/09/2023
Footnotes
(A) Financial Statements are also signed by Anant Badjatya - Chief Executive Officer on 28/09/2023
01/04/2022
to
31/03/2023
Name of company secretary PALLAVI MALIK
Permanent account number of company secretary BLFPM0966C
Date of signing of financial statements by company secretary 28/09/2023
Name of chief financial officer SUBHASH MOHAN BHAT
Permanent account number of chief financial officer AAAPB6132G
Date of signing of financial statements by chief financial officer 28/09/2023
32
[100400] Cash flow statement, indirect

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax -4,547.5 -1,917.47
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs (A) 448.12
55.06
Adjustments for depreciation and amortisation expense 965.69 280.21
Adjustments for unrealised foreign exchange losses gains (B) 43.77

8.23
Adjustments for share-based payments (C) 52.66

68.06
Other adjustments for which cash effects are investing or

-54.83
financing cash flow (D) -215.67
Other adjustments to reconcile profit (loss) (E) 6.5

-7.5
Other adjustments for non-cash items (F) 9.48

3.96
Total adjustments to profit (loss) 1,310.55 353.19

Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories -1,609.96 -496.75
Adjustments for decrease (increase) in trade receivables -19,991.63 -1,458.64
Adjustments for decrease (increase) in other current assets (G) -1,272.4

-1,676.41
Adjustments for increase (decrease) in trade payables 6,463.48 430.19

Adjustments for increase (decrease) in other current liabilities 3,406.11 305.74
Adjustments for provisions 510.97 18.2
Total adjustments for working capital -12,493.43 -2,877.67
Total adjustments for reconcile profit (loss) -11,182.88 -2,524.48
Net cash flows from (used in) operations -15,730.38 -4,441.95
Income taxes paid (refund) 22.51 5.09
Net cash flows from (used in) operating activities before extraordinary
-15,752.89 -4,447.04
items
Net cash flows from (used in) operating activities -15,752.89 -4,447.04
Cash flows from used in investing activities [Abstract]
Proceeds from sales of tangible assets 0 0.9
Purchase of tangible assets 10,909.38 1,469.55
Interest received 236.41 27.58
Other inflows (outflows) of cash (H) 1,194.08

-2,502.94
Net cash flows from (used in) investing activities before extraordinary
-9,478.89 -3,944.01
items
Net cash flows from (used in) investing activities -9,478.89 -3,944.01
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 15,347.74 9,000
Proceeds from borrowings (I) 11,225

1,000
Repayments of borrowings (J) 825.64

166.58
Interest paid 376.29 34.74
Other inflows (outflows) of cash (K) 312.83

-42.41
Net cash flows from (used in) financing activities before extraordinary
25,683.64 9,756.27
items
Net cash flows from (used in) financing activities 25,683.64 9,756.27
Net increase (decrease) in cash and cash equivalents before effect of
451.86 1,365.22
exchange rate changes
Net increase (decrease) in cash and cash equivalents 451.86 1,365.22
Cash and cash equivalents cash flow statement at end of period 2,436.96 1,985.1
33
Footnotes
(A) Interest on lease liability and Interest on loan
(B) Unrealised foreign exchange gain
(C) Stock compensation charges
(D) Interest income
(E) Lease rent equalisation
(F) Assets written off
(G) Change in loans and advances and Change in other assets
(H) Investments in bank deposits and Proceeds on maturity of bank deposits
(I) Proceeds from vehicle loan, Proceeds from Term loan and Proceeds from Debentures
(J) Repayment of external commercial borrowings and Repayment of vehicle loan and Repayment of Term loan
(K) Finance lease payments
34
[200100] Notes - Share capital
Disclosure of classes of share capital [Table] ..(1)

Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
[shares] [shares]
Number of shares authorised 28,50,00,000
[shares] 17,50,00,000
28,50,00,000
[shares] 17,50,00,000
Value of shares authorised 28,500 17,500 28,500 17,500

[shares] [shares]
Number of shares issued 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Value of shares issued 27,638.74 12,291 27,638.74 12,291

[shares] [shares]
Number of shares subscribed and fully paid 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Value of shares subscribed and fully paid 27,638.74 12,291 27,638.74 12,291
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
[shares] [shares]
Total number of shares subscribed 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Total value of shares subscribed 27,638.74 12,291 27,638.74 12,291

Value of shares paid-up [Abstract]
[shares] [shares]
Number of shares paid-up 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Value of shares called 27,638.74 12,291 27,638.74 12,291

Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
0 0 0 0
officers
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 27,638.74 12,291 27,638.74 12,291
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
[shares] [shares]
Number of shares issued as rights 15,34,77,397
[shares] 9,00,00,000
15,34,77,397
[shares] 9,00,00,000
Total aggregate number of shares issued [shares] [shares]

[shares] 9,00,00,000 [shares] 9,00,00,000
during period 15,34,77,397 15,34,77,397
Decrease in number of shares during period
[Abstract]
Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
[shares] 0 [shares] 0 [shares] 0 [shares] 0
period
Total increase (decrease) in number of [shares] [shares]
[shares] 9,00,00,000 [shares] 9,00,00,000
shares outstanding 15,34,77,397 15,34,77,397
[shares] [shares]
Number of shares outstanding at end of period 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Reconciliation of value of shares outstanding

[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of rights issue during period 15,347.74 9,000 15,347.74 9,000
Total aggregate amount of increase in
15,347.74 9,000 15,347.74 9,000
share capital during period
Decrease in share capital during period
[Abstract]
35
Decrease in amount of shares bought back 0 0 0 0

Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
0 0 0 0
period
Total increase (decrease) in share capital 15,347.74 9,000 15,347.74 9,000
Share capital at end of period 27,638.74 12,291 27,638.74 12,291
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
[shares] [shares]
Shares in company held by holding company 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
Shares in company held by ultimate holding

company
Shares in company held by subsidiaries of its
holding company
Shares in company held by subsidiaries of its
ultimate holding company
Shares in company held by associates of its
holding company
Shares in company held by associates of its
ultimate holding company
Total shares in company held by holding company
[shares] [shares]
or ultimate holding company or by its 27,63,87,397
[shares] 12,29,10,000
27,63,87,397
[shares] 12,29,10,000
subsidiaries or associates
Shares reserved for issue under options
and contracts or commitments for sale of [shares] 0 [shares] 0 [shares] 0 [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or 0 0 0 0
disinvestment
Original paid-up value of forfeited shares 0 0 0 0
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0 0
refund, principal
Application money received for
allotment of securities and due for 0 0 0 0
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0 0
and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
36
Disclosure of classes of share capital [Table] ..(2)

Classes of share capital [Axis] Equity shares 1 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Equity shares of Equity shares of
Type of share Rs.10 each Rs.10 each
[shares]
Number of shares authorised 28,50,00,000
[shares] 17,50,00,000
Value of shares authorised 28,500 17,500

[shares]
Number of shares issued 27,63,87,397
[shares] 12,29,10,000
Value of shares issued 27,638.74 12,291

[shares]
Number of shares subscribed and fully paid 27,63,87,397
[shares] 12,29,10,000
Value of shares subscribed and fully paid 27,638.74 12,291

Number of shares subscribed but not fully paid [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0
[shares]
Total number of shares subscribed 27,63,87,397
[shares] 12,29,10,000
Total value of shares subscribed 27,638.74 12,291

Value of shares paid-up [Abstract]
[shares]
Number of shares paid-up 27,63,87,397
[shares] 12,29,10,000
Value of shares called 27,638.74 12,291

Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0 0
Calls unpaid by officers 0 0
Total calls unpaid by directors and officers 0 0
Calls unpaid by others 0 0
Total calls unpaid 0 0
Forfeited shares 0 0
Forfeited shares reissued 0 0
Value of shares paid-up 27,638.74 12,291
Par value per share [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully called [INR/shares] 0 [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
[shares]
Number of shares issued as rights 15,34,77,397
[shares] 9,00,00,000
[shares]
Total aggregate number of shares issued during period 15,34,77,397
[shares] 9,00,00,000
Decrease in number of shares during period [Abstract]

Number of shares bought back [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0
Total decrease in number of shares during period [shares] 0 [shares] 0
[shares]
Total increase (decrease) in number of shares outstanding 15,34,77,397
[shares] 9,00,00,000
[shares]
Number of shares outstanding at end of period 27,63,87,397
[shares] 12,29,10,000
Reconciliation of value of shares outstanding [Abstract]

Changes in share capital [Abstract]
Increase in share capital during period [Abstract]
Amount of rights issue during period 15,347.74 9,000
Total aggregate amount of increase in share capital during period 15,347.74 9,000
Decrease in share capital during period [Abstract]
Decrease in amount of shares bought back 0 0
Other decrease in amount of shares 0 0
Total decrease in share capital during period 0 0
Total increase (decrease) in share capital 15,347.74 9,000
Share capital at end of period 27,638.74 12,291
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
(A) [shares]
Shares in company held by holding company 27,63,87,397
[shares] 12,29,10,000
Shares in company held by ultimate holding company [shares] 0 [shares] 0
37
Shares in company held by subsidiaries of its holding company [shares] 0 [shares] 0

Shares in company held by subsidiaries of its ultimate holding company [shares] 0 [shares] 0
Shares in company held by associates of its holding company [shares] 0 [shares] 0
Shares in company held by associates of its ultimate holding company [shares] 0 [shares] 0
Total shares in company held by holding company or ultimate holding company [shares]
[shares] 12,29,10,000
or by its subsidiaries or associates 27,63,87,397
Shares reserved for issue under options and contracts or commitments for sale of
[shares] 0 [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options and contracts or commitments
0 0
for sale of shares or disinvestment
Original paid-up value of forfeited shares 0 0
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund,
0 0
principal
Application money received for allotment of securities and due for refund,
0 0
interest accrued
Total application money received for allotment of securities and due for
0 0
refund and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0
Footnotes
(A) Sun Mobility Pte. Ltd., Singapore (the Holding Company) [Includes 100 equity shares of Rs.10 fully paid up held by nominee.]
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
Equity shares of Equity shares of
Type of share Rs.10 each Rs.10 each
Sun Mobility Pte. Sun Mobility Pte.
Name of shareholder Ltd. Ltd.
Country of incorporation or residence of shareholder SINGAPORE SINGAPORE
[shares]
Number of shares held in company 27,63,87,397
[shares] 12,29,10,000
Percentage of shareholding in company 100.00% 100.00%

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
38
Disclosure of notes on share capital explanatory [Text Block]

- Rights and preference of equity share holders
The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to 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 to preferential creditors. The distribution will be in proportion to the number of equity shares held by the shareholders. The
Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except interim dividend.
- Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five
years immediately preceding the reporting date
The Company has not issued any bonus shares or any shares for consideration other than cash and has not bought back any shares in previous
year from the date of incorporation.
- Disclosure of shareholding of Promoters
Shares held by % Change during the

Promoters year
31 March
31 March 2023
2022
% of total No. of % of total

No. of shares
shares shares shares
Sun Mobility Pte. Ltd.,

27,63,87,397 100% 12,29,10,000 100% -
Singapore
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Components of reserves [Axis] Reserves [Member] Surplus [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -4,400.64 -1,877.09 -4,400.64 -1,877.09
Other additions to reserves 52.66 68.06 (A) 52.66 68.06
Total additions to reserves -4,347.98 -1,809.03 -4,347.98 -1,809.03
Total changes in reserves -4,347.98 -1,809.03 -4,347.98 -1,809.03
Reserves at end of period -7,643.93 -3,295.95 -7,643.93 -3,295.95
(A) Capital contribution by the Holding Company
39
[200300] Notes - Borrowings
Details of bonds or debentures [Table] ..(1)

Details of bonds or debentures [Axis] Column
01/04/2022
to
31/03/2023
Borrowings notes [Abstract]
Details of bonds or debentures [Abstract]
Details of bonds or debentures [LineItems]
Whether bonds or debentures Debenture
Nature of bond or debenture Non-convertible
Holder of bond or debenture Intercorporate
Rate of interest 14.25%
Reedemable
Particulars of redemption or conversion Non-convertible
debentures
Nominal value per bond or debenture 1,00,00,000
Number of bonds or debentures 25
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Non-convertible
Debentures debentures
Classification of borrowings [Axis] Term loans from banks [Member]
[Member] intercorporate
[Member]
Secured Secured
Subclassification of borrowings [Axis] borrowings borrowings Secured borrowings [Member]
[Member] [Member]
01/04/2022 01/04/2022 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2022
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 1,666.67 1,666.67 1,333.33 0
Nature of security [Abstract]
Refer Textual Refer Textual Refer Textual Refer Textual
Nature of security Information Information Information Information
Refer Textual Refer Textual Refer Textual
Terms of repayment of term loans and other loans Information Information Information

Rupee term loans from banks
Classification of borrowings [Axis] Term loans from others [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings 1,333.33 0 4,838.63 0
Terms of repayment of term loans and other loans Information Information Information Information
40

Rupee term loans from others
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
Borrowings 287.56 377.6 4,838.63 0
Refer Textual Refer Textual
Nature of security Information Information
Terms of repayment of term loans and other loans Information Information

Other external commercial borrowings Long-term maturities of finance lease
Classification of borrowings [Axis]
[Member] obligations [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
Borrowings 287.56 377.6 307.4 109.77

Classification of borrowings [Axis] Other loans and advances [Member] Loans taken for fixed assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings 303.39 644.79 303.39 644.79
Hypothecation of Hypothecation of the Hypothecation of Hypothecation of the
Nature of security the Financed Fleet Financed Fleet the Financed Fleet Financed Fleet
41

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Non-convertible
Debentures debentures
Classification of borrowings [Axis] Loans taken for vehicles [Member]
[Member] intercorporate
[Member]
Secured Secured
Subclassification of borrowings [Axis] Secured borrowings [Member] borrowings borrowings
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2023
Borrowings 303.39 644.79 833.33 833.33
Hypothecation of Hypothecation of the Refer Textual Refer Textual
Nature of security the Financed Fleet Financed Fleet Information Information

Classification based on time period [Axis] Short-term [Member]
Rupee term loans from banks
Classification of borrowings [Axis] Term loans from banks [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings 166.67 0 166.67 0

Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
01/04/2022 01/04/2021
to to 31/03/2023 31/03/2022
31/03/2023 31/03/2022
Borrowings 1,969.7 0 123.24 113.28
42

Rupee term loans from others Other external commercial borrowings
Classification of borrowings [Axis]
[Member] [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
01/04/2022 01/04/2021
to to 31/03/2023 31/03/2022
31/03/2023 31/03/2022
Borrowings 1,969.7 0 123.24 113.28

Long-term maturities of finance lease
Classification of borrowings [Axis] Other loans and advances [Member]
obligations [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings 218.83 62.88 341.4 295.69

Classification of borrowings [Axis] Loans taken for fixed assets [Member] Loans taken for vehicles [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Borrowings 341.4 295.69 341.4 295.69
Hypothecation of Hypothecation of the Hypothecation of Hypothecation of the
Nature of security the Financed Fleet Financed Fleet the Financed Fleet Financed Fleet

01/04/2022
to
31/03/2023
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
43
Disclosure of notes on borrowings explanatory [Text Block]
(Rs. in Lakhs)
As at 31 March 2023 As at 31 March 2022
Borrowings Long-term Short-term Long-term Short-term
Unsecured
External Commercial Borrowings (ECB)(*) 287.56 123.24 377.60 113.28
Secured
Vehicle loan 303.39 341.40 644.79 295.69
Term Loan
from banks 1,333.33 166.67 - -
from other parties 4,838.63 1,969.70 - -
Non- Convertible debentures (**) 1,666.67 833.33 - -
Finance lease obligations 307.40 218.83 109.77 62.88
8,736.98 3,653.17 1,132.16 471.85
(*) The Company had entered into an External Commercial Borrowing agreement with its Holding Company, Sun Mobility Pte. Ltd. on 18
January 2018 for $ 1,000,000 under the automatic approval route, to be drawn in two tranches. As at 31 March 2019, the Company had
drawn an amount of $ 1,000,000. As per the terms of the ECB agreement, the loan is interest free and is repayable starting from February
2020 onwards in six installments as per the repayment schedule. The loan maybe converted into equity shares with mutual consent of the
Company and the Holding Company. The Company has commenced repayment from 21 February 2020.
Interest rate Original Total no.

Security details Loan date
p.a. loan value instalments
Hypothecation of the Sep-21 -

Vehicle loan from Ckers Finance 14.50% 1,000.00 36.00
Financed Fleet Feb -22
44
Term loans from banks:
Union Bank of India refer Note (i) 12.80% 1,500.00 18.00 23-01-2023
Term loans from Others:
Oxyzo Financial Services Private

refer Note (ii) 13.75% 1,200.00 36.00 02-03-2023
Limited
Indian Renewable Energy

refer Note (iii) 10.45% 1,625.00 5.00 31-01-2022
Development Agency
Aug-22 -
Vivriti Capital Private Limited refer Note (iv) 12.75%-14.5% 4,400.00 36.00
Feb-23
Note (i) - Exclusive charge on the assets Electric Vehicles and Batteries purchased out of the facility and corporate guarantee by Sun
Mobility Pte Limited Singapore and Sun Mobility Holdings Private Limited, Mauritius
Note (ii) - First ranking exlcusive charge by way of hypothecation over identified E3W Vehicles and over identified battery stations and
battery packs owned by Sun Mobility EV Infra Private Limited
Note (iii) - Exlcusive charge by way of hypothecation for all the movable assets EVs, Batteries & QIS pertaining to the project being
financed by IREDA and Corporate guarantee by Sun Mobility Pte Limited Singapore and Sun Mobility Holdings Private Limited, Mauritius.
2nd Charge movables and immovable assets pertaining to Battery assembly station located at Bangalore
Note (iv) - A first ranking exclusive and continuing charge by way of Hypothecation of identified vehicles, battery stations (owned by Sun
Mobility EV Infra Private Limited)
(**) Incred Alternative Investment Private Limited has issued reedemable Non-convertible debentures with facility of Rs. 2,500.00 with a
face value of Rs. 1 Crore and tenure of the debentures is 36 months from the date of disbursement with interest rate of 14.25%. Secured by
exclusive charge on the assets created out of the Facility, First Pari Passu charge on revenues / receivables of the Issuer and corporate
guarantee by Sun Mobility Pte Limited Singapore and Sun Mobility Holdings Private Limited, Mauritius
Amount of borrowings guaranteed by related parties As at 31 March 2023 As at 31 March 2022
Sun Mobility Pte Limited Singapore 6,825.00 -
Sun Mobility Holdings Private Limited, Mauritius 6,825.00 -
45
[201000] Notes - Tangible assets
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets
Classes of tangible assets [Axis] Plant and equipment [Member] Factory equipments [Member]
[Member]
Owned and leased assets Owned and leased assets Owned and leased assets
Sub classes of tangible assets [Axis]
[Member] [Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of additional information
tangible assets [Abstract]
tangible assets [LineItems]
Straight-line Straight-line Straight-line Straight-line Straight-line Straight-line
Depreciation method tangible assets Method Method Method Method Method Method
Useful lives or depreciation rates
Total Total 3-15 Years 3-15 Years 3-15 Years 3-15 Years
tangible assets

Classes of tangible assets [Axis] Factory equipments [Member] Furniture and fixtures [Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
3-15 Years 3-15 Years 10 Years 10 Years 10 Years 10 Years
tangible assets

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
Owned and leased assets Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
5-10 Years 5-10 Years 5-10 Years 5-10 Years 5-10 Years 5-10 Years
tangible assets
46

Computer equipments
Classes of tangible assets [Axis] Office equipment [Member]
[Member]
Owned and leased assets Owned and leased assets
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
5 Years 5 Years 5 Years 5 Years 3-6 Years 3-6 Years
tangible assets

Computer equipments
Classes of tangible assets [Axis] Leasehold improvements [Member]
[Member]
Owned and leased assets
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
Over shorter of Over shorter of Over shorter of Over shorter of
3-6 Years 3-6 Years useful life or useful life or useful life or useful life or
tangible assets lease period lease period lease period lease period

Classes of tangible assets [Axis] Other tangible assets [Member] Other tangible assets, others [Member]
Owned and leased assets Owned and leased assets Assets held under lease
Sub classes of tangible assets [Axis]
[Member] [Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
Over shorter of Over shorter of Over shorter of Over shorter of
useful life or useful life or 10 Years 10 Years useful life or useful life or
tangible assets lease period lease period lease period lease period
47
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and Gross carrying amount Accumulated depreciation and
Carrying amount [Member]
gross carrying amount [Axis] [Member] impairment [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 10,905.86 1,646.13 10,905.86 1,646.13
assets
Depreciation tangible assets -946.78 -263.57 946.78 263.57
Disposals tangible assets
[Abstract]
Disposals tangible assets,
0 4.86 0 5.57 0 0.71
others
Total disposals tangible
0 4.86 0 5.57 0 0.71
assets
Total changes in tangible
9,959.08 1,377.7 10,905.86 1,640.56 946.78 262.86
assets
Tangible assets at end of period 11,952.61 1,993.53 13,609.6 2,703.74 1,656.99 710.21

Classes of tangible assets [Axis] Plant and equipment [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
business combinations tangible 1,277.59 178.83 1,277.59 178.83
assets
1,122.73 85.65 1,277.59 178.83 154.86 93.18
assets
Tangible assets at end of period 1,632.11 509.38 2,054.04 776.45 421.93 267.07
48

Classes of tangible assets [Axis] Factory equipments [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
1,122.73 85.65 1,277.59 178.83 154.86 93.18
assets

Classes of tangible assets [Axis] Factory equipments [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
1,122.73 85.65 1,277.59 178.83 154.86 93.18
assets
49

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
business combinations tangible 58.04 5.19 58.04 5.19
assets
[Abstract]
0 0.93 0 1.42 0 0.49
others
0 0.93 0 1.42 0 0.49
assets
47.28 -2.97 58.04 3.77 10.76 6.74
assets
Tangible assets at end of period 80.32 33.04 114.22 56.18 33.9 23.14

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
[Abstract]
0 0.93 0 1.42 0 0.49
others
0 0.93 0 1.42 0 0.49
assets
47.28 -2.97 58.04 3.77 10.76 6.74
assets
50

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
[Abstract]
0 3.93 0 4.15 0 0.22
others
0 3.93 0 4.15 0 0.22
assets
7,687.09 1,161.94 8,018.78 1,210.54 331.69 48.6
assets
Tangible assets at end of period 8,849.03 1,161.94 9,229.32 1,210.54 380.29 48.6

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
[Abstract]
0 3.93 0 4.15 0 0.22
others
0 3.93 0 4.15 0 0.22
assets
7,687.09 1,161.94 8,018.78 1,210.54 331.69 48.6
assets
Tangible assets at end of period 8,849.03 1,161.94 9,229.32 1,210.54 380.29 48.6
51

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
[Abstract]
0 3.93 0 4.15 0 0.22
others
0 3.93 0 4.15 0 0.22
assets
7,687.09 1,161.94 8,018.78 1,210.54 331.69 48.6
assets
Tangible assets at end of period (A) 8,849.03 1,161.94 9,229.32 1,210.54 380.29 48.6
Footnotes
(A) Vehicles purchased for generating revenues from Mobility as a Service

01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
25.66 -2.21 38.31 7.24 12.65 9.45
assets
52

01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
25.66 -2.21 38.31 7.24 12.65 9.45
assets

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
26.74 -3.45 41.28 6.81 14.54 10.26
assets

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
26.74 -3.45 41.28 6.81 14.54 10.26
assets
53

01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
681.93 -28.78 961.11 28.92 279.18 57.7
assets
Tangible assets at end of period 751.31 69.38 1,234.85 273.74 483.54 204.36

01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
681.93 -28.78 961.11 28.92 279.18 57.7
assets
Tangible assets at end of period 751.31 69.38 1,234.85 273.74 483.54 204.36

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
assets
367.65 167.52 510.75 204.45 143.1 36.93
assets
54

Classes of tangible assets [Axis] Other tangible assets, others [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
Electrical Electrical Electrical Electrical Electrical Electrical
Nature of other tangible assets installations installations installations installations installations installations
[Abstract]
assets
367.65 167.52 510.75 204.45 143.1 36.93
assets

Sub classes of tangible assets [Axis] Assets held under lease [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
(A) IT
Nature of other tangible assets IT equipments IT equipments
equipments
IT equipments IT equipments IT equipments
[Abstract]
assets
342.66 169.26 482.6 204.45 139.94 35.19
assets
Footnotes
(A) IT equipments acquired under finance lease arrangements
55

01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
Electrical Electrical Electrical Electrical Electrical Electrical
Nature of other tangible assets installations installations installations installations installations installations
[Abstract]
business combinations tangible 28.15 0 28.15 0
assets
24.99 -1.74 28.15 0 3.16 1.74
assets

01/04/2022
to
31/03/2023
Disclosure of notes on tangible assets explanatory [TextBlock]
Disclosure of accounting policy on tangible assets [TextBlock] [See below]
Disclosure of accounting policy on tangible assets [Text Block]

Property, plant and equipment
Property, plant and equipment are stated at their original cost of acquisition less accumulated depreciation and accumulated impairment loss,
if any. The cost comprises of the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.
Any trade discounts, rebates and government grants received are deducted in arriving at the purchase price.
Subsequent expenditure related to an item of property, plant and equipment is added to its book value only if it increases the future benefits
from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including
day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the Statement of Profit and Loss for the period
during which such expenses are incurred.
The cost incurred towards Property, plant and equipment, but not ready for their intended use before each Balance Sheet date is disclosed as
capital work-in-progress, if any.
Gains or losses arising from derecognition of property, plant and equipment are measured as the difference between the net disposal proceeds
and the carrying amount of assets and are recognised in the Statement of Profit and Loss when the asset is derecognised.
56
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
Carrying amount accumulated amortization and Gross carrying amount Accumulated amortization and
impairment and gross carrying amount [Axis] [Member] impairment [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets
[LineItems]
intangible assets [Abstract]
Changes in intangible assets
[Abstract]
Additions to intangible assets
[Abstract]
Additions through internal
39.58 22.81 39.58 22.81
development
Total additions to
39.58 22.81 39.58 22.81
intangible assets
Amortization intangible assets -18.9 -16.64 18.9 16.64
Total changes in intangible
20.68 6.17 39.58 22.81 18.9 16.64
assets
Intangible assets at end of period 48.79 28.11 159.92 120.34 111.13 92.23

Classes of intangible assets [Axis] Computer software [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
[Abstract]
39.58 22.81 39.58 22.81
development
Total additions to
39.58 22.81 39.58 22.81
intangible assets
20.68 6.17 39.58 22.81 18.9 16.64
assets
57

Sub classes of intangible assets [Axis] Intangible assets other than internally generated [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
[LineItems]
[Abstract]
[Abstract]
39.58 22.81 39.58 22.81
development
Total additions to
39.58 22.81 39.58 22.81
intangible assets
20.68 6.17 39.58 22.81 18.9 16.64
assets
Disclosure of additional information intangible assets [Table] ..(1)

Company total intangible assets
[Member]
Internally generated and other Internally generated and other
Intangible assets other than
Sub classes of intangible assets [Axis] than internally generated than internally generated
internally generated [Member]
intangible assets [Member] intangible assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022 31/03/2023 31/03/2022
intangible assets [LineItems]
As per
Useful lives or amortization rates As per Schedule As per Schedule As per Schedule As per Schedule As per Schedule
Schedule II of
intangible assets II of the Act. II of the Act. II of the Act. II of the Act. II of the Act.
the Act.
Description of amortization method Straight-line Straight-line Straight-line Straight-line Straight-line Straight-line
used method method method method method method
58
[200600] Notes - Subclassification and notes on liabilities and assets
Loans and advances [Table] ..(1)

Classification of loans and advances [Axis] Security deposits [Member] Prepaid expenses [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 851.04 473.63 202.42 7.94
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 851.04 473.63 202.42 7.94
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Loans and advances due by others 851.04 473.63 202.42 7.94
Total loans and advances due by
851.04 473.63 202.42 7.94
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
which any director is partner
Loans and advances due by private
companies in which any director is 0 0 0 0
director
member
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
59

Loans advances given suppliers
Classification of loans and advances [Axis] Security deposits [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
Loans and advances, gross 19.34 6.4 363.42 1,470.48
0 0 0 0
advances
Loans and advances 19.34 6.4 363.42 1,470.48
[Abstract]
Loans and advances due by others 19.34 6.4 363.42 1,470.48
19.34 6.4 363.42 1,470.48
0 0 0 0
director
member
0 0 0 0
director
60

Loans advances given employees
Classification of loans and advances [Axis] Prepaid expenses [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
0 0 0 0
advances
[Abstract]
12.8 5.76 247.59 69.91
0 0 0 0
director
member
0 0 0 0
director
61

Classification of loans and advances [Axis] Advance tax [Member] Tax deducted at source [Member]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
[Abstract]
0 0 0 0
advances
Nature of other loans and advances TDS receivable TDS receivable
[Abstract]
56.8 14.65 56.8 14.65
0 0 0 0
director
member
0 0 0 0
director

Deposits with statutory authorities
Classification of loans and advances [Axis]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Loans and advances, gross 2,241.6 664.85
Allowance for bad and doubtful loans and advances 0 0
Loans and advances 2,241.6 664.85
Details of loans and advances due by directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0
Loans and advances due by other officers 0 0
Loans and advances due by others 2,241.6 664.85
Total loans and advances due by directors, other officers or others 2,241.6 664.85
Details of loans and advances due by firms or companies in which any
director is partner or director [Abstract]
Loans and advances due by firms in which any director is partner 0 0
Loans and advances due by private companies in which any director is
0 0
director
Loans and advances due by private companies in which any director is member 0 0
Total loans and advances due by firms or companies in which any director
0 0
is partner or director
62
Disclosure of breakup of provisions [Table] ..(1)

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 190.57 150.64 9.98 5.27
Provision leave encashment 0 0 130.01 91.61
Total provisions for employee benefits 190.57 150.64 139.99 96.88
Provision for corporate tax [Abstract]
Provision for current tax 0 (A) 19.64
Total provision for corporate tax 0 19.64
CSR expenditure provision 0 0 0 0
Other provisions (B) 367.04 106.69 (C) 213.38 26.16
Total provisions 557.61 257.33 353.37 142.68
Footnotes
(A) Provision for income tax
(B) Provision for warranty
(C) Provision for warranty
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 21,877.66 1,894.09 21,840.09 1,856.52
Allowance for bad and doubtful debts 37.57 37.57 0 0
Total trade receivables 21,840.09 1,856.52 21,840.09 1,856.52
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 21,840.09 1,856.52
Total trade receivables due by
directors, other officers or 21,840.09 1,856.52
others
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Trade receivables due by firms in
0 0
Trade receivables due by private
companies in which any director 0 0
is director
Trade receivables due by private
companies in which any director 0 0
is member
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
63
Subclassification of trade receivables [Table] ..(2)

Classification of assets based on security [Axis] Doubtful [Member]
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 37.57 37.57
Allowance for bad and doubtful debts 37.57 37.57
Total trade receivables 0 0
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 37.57 37.57
Total trade receivables due by directors, other officers or others 37.57 37.57
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Trade receivables due by firms in which any director is partner 0 0
Trade receivables due by private companies in which any director is
0 0
director
Trade receivables due by private companies in which any director is
0 0
member
Total trade receivables due by firms or companies in which any
0 0
director is partner or director
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 3,229.08 1,619.12 1,786.9 496.62
Goods in transit 34.62 800.81 34.62 800.81
Valued at lower of Valued at lower of Valued at lower of Valued at lower of
Mode of valuation cost or net cost or net realisable cost or net cost or net realisable
realisable value value realisable value value
Classification of inventories [Table] ..(2)

Classification of inventories [Axis] Finished goods [Member] Stock-in-trade [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories (A) 1,254.74 238.93 152.82 82.76
Valued at lower of Valued at lower of Valued at lower of Valued at lower of
Mode of valuation cost or net cost or net realisable cost or net cost or net realisable
realisable value value realisable value value
Footnotes
(A) Batteries, Charging stations , Docks and casettes and Others
64

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of subclassification and notes on liabilities and assets Textual information (31)
explanatory [TextBlock] [See below]
Trade payables, long-term 0 0
Total other long-term liabilities 0 0
Disclosure of notes on provisions explanatory [TextBlock] [See below]
Nature of other provisions Provision for warranty Provision for warranty
Interest accrued but not due on borrowings 40.79 9.71
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Income received in advance 0 0
Unpaid dividends 0 0
Application money received for allotment of securities and
0 0
due for refund, principal
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Withholding taxes payable (A) 202.38

116.78
Customer deposits refundable, current 926.85 228.99

Total deposits refundable current 926.85 228.99
Public deposit payable, current 0 0
Total other payables, current 1,129.23 345.77
Advance received from customers 2,534.57 3.4
Short-term employee related liabilities (B) 709.64

626.37
Current liabilities portion of share application money pending

0 0
allotment
Other current liabilities, others (C) 3,756.19
29.96
Total other current liabilities 8,170.42 1,015.21

Other non-current assets, others 774.45 0
Total other non-current assets 774.45 0
Bank deposits with Bank deposits with
Nature of other non-current assets, others maturity of more than 12 maturity of more than 12
months months
Accounting policy on inventories [TextBlock] [See below]
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Aggregate amount of trade receivables outstanding for period
301.59 31.03
exceeding six months
Fixed deposits with banks 0 200
Other balances with banks (D) 2,436.96

1,785.1
Total balance with banks 2,436.96 1,985.1

Cash on hand 0 0
Total cash and cash equivalents 2,436.96 1,985.1
Other bank balances (E) 586.08

2,554.61
Total cash and bank balances 3,023.04 4,539.71

Balances held with banks to extent held against other
0 0
commitments
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than twelve months maturity 774.45 0
Interest receivable 6.79 27.53
Other current assets, others 33.6 2.42
Total other current assets 40.39 29.95
Nature of other current assets Other assets Other assets
65
Footnotes
(A) Statutory dues payable
(B) Dues to employees
(C) Other payable, Unearned revenue, Capital creditors outstanding dues to micro and small enterprises (MSME), Capital creditors
outstanding dues other than micro and small enterprises and Lease rent equalisation
(D) Balances with banks:In current account and In EEFC account
(E) Includes amounts restricted for use, Rs. 148.81 against bank guarantees given to the customs department for import of battery
parts used in manufacturing of battery for electronically operated vehicles, at concessional rate of duty; Rs. 23.96 towards security
against corporate credit card; Rs.33.55 lienmarked against vehicle loan from Ckers finance and Rs. 30.00 against charging station
set-up tender.
66
Disclosure of subclassification and notes on liabilities and assets explanatory [Text Block]
(Rs. in Lakhs)
Trade payables As at 31 March 2023 As at 31 March 2022
Total outstanding dues to micro and small enterprises (MSME) 3,080.42 92.43
Total outstanding dues other than micro and small enterprises 4,334.92 858.89
7,415.34 951.32
Ageing for trade payables:
Not Outstanding for following periods from due

Total
due date of payment
1- 2 2- 3 More than 3
Less than 1 year
years years years
As at 31 March
2023:
(I) MSME 88.77 2,990.21 1.43 0.01 - 3,080.42
(II) Others 77.27 3,455.11 2.97 0.37 1.86 3,537.58
166.04 6,445.32 4.40 0.38 1.86 6,618.00
Accrued
797.34
expenses
Total 7,415.34
As at 31 March
2022:
(I) MSME 23.82 68.34 0.20 0.07 - 92.43
67
(II) Others 118.11 420.69 0.86 2.12 0.18 541.96
141.93 489.03 1.06 2.19 0.18 634.39
Accrued
316.93
expenses
Total 951.32
68
Disclosure of notes on provisions explanatory [Text Block]

A Gratuity
The Company has a defined benefit gratuity plan which is un-funded. The gratuity plan is governed by the Payment of Gratuity Act, 1972.
Under the Act, employees who have completed five years of service are entitled to specific benefit. The level of benefits provided depends on
the member's length of service and salary at retirement age. No other post-retirement benefit are provided to the employees.
The principal assumptions used for the purposes of the actuarial valuations were as follows:
As at 31 March
As at 31 March 2023
2022
A. Economic assumptions
i. Discount rate 7.56% 7.59%
ii. Expected rate of salary increase 10.00% 10.00%
iii. Attrition rate 20.00% 10.00%
B. Demographic assumptions
iv. Retirement age (years) 60 60
v. Mortality rates inclusive of provision for 100% of Indian Assured Lives Mortality (2012-14)
disability Ultimate
B Compensated absences
The Company provides for encashment of leave or leave with pay by certain categories of its employees subject to certain rules. The
employees are entitled to accumulate leave subject to certain limits, for future encashment. The Company records a provision for leave
obligations in the year in which the employee renders the services that increases this entitlement. The Company has recognised Rs. 57.14
(Previous year: Rs. 31.42 ) towards compensated absences in the same manner as gratuity.
69
Accounting policy on inventories [Text Block]

Raw materials and components are valued at lower of cost and estimated net realisable value, after providing for obsolescence. Costs are
determined on a first in first out (FIFO) basis. Costs includes material purchase price, inward freight and other incidental overheads incurred
in bringing the inventories to their present location and condition, net of refundable taxes. However, raw materials and components held for
use in production of inventories are not valued below cost if the manufactured products in which they will be incorporated are expected to be
sold at or above cost.
Work-in-progress and finished goods are valued at lower of cost and net realisable value. Cost includes direct materials and labour and a
proportion of manufacturing overheads based on normal operating capacity. Costs are determined on a FIFO basis.
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs
necessary to make the sale.
70
Disclosure of notes on trade receivables explanatory [Text Block]
(Rs. in Lakhs)
Trade receivables As at 31 March 2023 As at 31 March 2022
Unsecured, considered good 21,840.09 1,856.52
Unsecured, considered doubtful 37.57 37.57
Less: Allowance for doubtful trade receivables (37.57) (37.57)
21,840.09 1,856.52
Ageing for trade receivables
Outstanding for following periods

Total
from due date of payment
6
1- 2 2- 3 More than
Unbilled Less than 6 months months-
years years 3 years
1 year
As on 31 March
2023:
Undisputed trade
receivables
- Considered good 539.02 20,999.48 265.73 33.96 1.35 0.55 21,840.09
- Considered doubtful - - - 29.84 7.73 - 37.57
539.02 20,999.48 265.73 63.80 9.08 0.55 21,877.66
Less: Allowance for

- - - 29.84 7.73 - 37.57
doubtful balance
539.02 20,999.48 265.73 33.96 1.35 0.55 21,840.09
71
Outstanding for following periods

Total
from due date of payment
6 months- 1- 2 2- 3 More than

As on 31 March 2022: Unbilled Less than 6 months
1 year years years 3 years
Undisputed trade
receivables
- Considered good 14.61 1,810.88 24.90 5.58 0.55 - 1,856.52
- Considered doubtful - 14.98 14.86 7.73 - - 37.57
14.61 1,825.86 39.76 13.31 0.55 - 1,894.09
Less: Allowance for

- 14.98 14.86 7.73 - - 37.57
doubtful balance
14.61 1,810.88 24.90 5.58 0.55 - 1,856.52
[200700] Notes - Additional disclosures on balance sheet
Details of disclosures required under MSMED Act 2006 [Table] ..(1)

Micro small medium enterprises [Axis] MSME
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Additional balance sheet notes [Abstract]
Details of disclosures required under MSMED Act 2006 [Abstract]
Details of disclosures required under MSMED Act 2006 [LineItems]
Principal and interest due remaining unpaid [Abstract]
Principal due remaining unpaid 3,080.42 92.43
Interest due remaining unpaid 16.45 0
Total principal and interest due remaining unpaid 3,096.87 92.43
Amount of interest paid under MSMED Act 2006 0 0
Amount of payments made to supplier beyond due date during year 0 0
Amount of interest due and payable for period 0 0
Amount of interest accrued and remaining unpaid at end of accounting year 16.45 0
Amount of further interest due and payable even in succeeding year 0 0
Maximum amount outstanding for period from micro small medium enterprises 0 0
Name supplier being micro small medium enterprises (A) Various Various
Footnotes
(A) The information as required under the Micro, Small and Medium enterprise Development Act, 2006 has been determined to the
extent such parties have been identified on the basis of information available with the Company and has been relied upon by the
auditors. The Company has not received any claim for interest from any supplier under the said act.
72

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Guarantees (A) 148.81
90.8
Total contingent liabilities 148.81 90.8

Estimated amount of contracts remaining to be executed on
182.06
capital account and not provided for (B) 4,159.62
Total commitments 4,159.62 182.06
Total contingent liabilities and commitments 4,308.43 272.86
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Amount of dividends proposed to be distributed to preference
0 0
shareholders
Amount of per share dividend proposed to be distributed to
[INR/shares] 0 [INR/shares] 0
preference shareholders
Arrears of fixed cumulative dividends on preference shares 0 0
Percentage of proposed dividend 0.00% 0.00%
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Additions to equity share warrants during period 0 0
Deductions in equity share warrants during period 0 0
Total changes in equity share warrants during period 0 0
Equity share warrants at end of period 0 0
Equity share warrants for existing members 0 0
Equity share warrants for others 0 0
Total equity share warrants 0 0
Share application money received during year 15,347.74 9,000
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year 0 0
Number of person share application money received during year 1 1
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Disclosure of whether all assets and liabilities are registered with
Yes Yes
company
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes No
2014
Manufacturing of smart
If yes, Central Excise Tariff Act, heading in which product/ batteries and
service is covered under cost records Engineering support
services
Whether audit of cost records of company has been mandated
No No
under Rules specified in SN 1
Net worth of company 19,994.81 8,995.06
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
Number of warrants issued during period (in foreign currency) 0 0
Number of warrants issued during period (INR) 0 0
Footnotes
(A) The Company has given bank guarantees to Customs Department and to Goverment entities amounting to Rs. 148.81 (31 March
2022: Rs. 90.80 ) for import of battery parts used in manufacturing of battery for electronically operated vehicles, at concessional
rate of duty.
(B) Net of advances
73
Disclosure of additional balance sheet notes explanatory [Text Block]

- Additional regulatory information- ratios
31 31
No. Particulars Note Numerator Denominator March March Variance
2023 2022
1 Current ratio A Current assets Current liabilitiies 1.59 4.10 -61%
Debt-equity
2 B Total debt Total equity 0.62 0.18 248%
ratio
Profit before exceptional Finance cost + principal

Debt service
3 C items, tax and finance repayment made for 2.42 7.50 -68%
coverage ratio
cost Borrowings
Return on
4 Loss after tax Average Shareholders' equity -22.01% -20.87% 5%
equity ratio
Inventory Average inventories of finished

5 D Cost of goods sold 16.94 4.04 319%
turnover ratio goods
Trade
Revenue from Average gross trade
6 receivables E 2.14 5.41 -60%
operations receivables (before provision)
turnover ratio
Trade payables
7 F Purchases Average trade payables 3.41 2.28 50%
turnover ratio
Average working capital (ie.

Net capital Revenue from
8 G current assets less current 2.21 0.78 183%
turnover ratio operations
liabilities)
9 Net loss ratio H Net loss for the year Total income -17.34% -30.99% -44%
Return on Loss before exceptional

10 capital I items, tax and finance Total shareholders' equity -11.95% -16.90% -29%
employed cost
Notes:
A During the current year, the ratio has decreased due to the current liabilities proportionately higher, primarily due to short term borrowings
& liabilities towards customer advances.
74
B During the current year, the Company has taken loans from NBFC/financial institution resulting in increase in the debt equity ratio.
C Variance is on account of increase in finance cost and on account of new borrowings.
D Increase is on account of increase in cost of material consumed due to increase in production in the current year, hence the variance.
E During the current year, the collections from the key customers were not in proportion to the increase in the revenue, resulting in the
variance.
F Due to increase in production in the current year, purchase of material consumed got increased, hence the variance.
G Increase in revenue from operation in the current year as compared to the previous year.
H Increase in revenue from operation in the current year as compared to the previous year.
I During the current year, the Company has issued equity shares to the Holding Company, which lead to a significant increase in capital
employed, hence the variance.
- Additional disclosures as per Schedule III
Details of benami property held
No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.
Relationship with struck off companies
The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.
Registration of charges or satisfaction with Registrar of Companies
There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.
Details of crypto currency or virtual currency
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
Utilisation of borrowed funds and share premium
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 beneficiaries
Utilisation of borrowed funds and share premium
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:
75
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
Undisclosed income
There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income-tax Act,
1961, that has not been recorded in the books of account.
Compliance with approved scheme(s) of arrangements
The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.
Title deeds of immovable properties not held in name of the Company
There are no immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in
favour of the lessee) not held in the name of the Company.
- Prior period figures have been regrouped/ reclassified, wherever necessary, to conform to the current periods' presentation and to comply
with the requirements of the amended Schedule III to the Companies Act, 2013, effective 1 April 2021.
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2022
to
31/03/2023
Disclosure of accounting policies, change in accounting policies and Textual information (36)
changes in estimates explanatory [TextBlock] [See below]
Disclosure of general information about company [TextBlock] [See below]
76
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
a) Basis of preparation
These financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India ("Indian GAAP") under
the historical cost convention on the accrual basis. These financial statements comply in all material respects with the accounting standards
("AS") as prescribed under Section 133 of the Companies Act, 2013 (the 'Act') read together with the Companies (Accounting Standards)
Rules, 2021 and the relevant provisions of the Companies Act, 2013 ('the Act'). The accounting policies adopted in the preparation of
financial statements are consistent with those used in the previous year.
The Company has incurred losses amounting to Rs. 4,547.50 for the year ended 31 March 2023 (the 'year') (31 March 2022: loss Rs.
1,917.47). Additionally, the Company has negative operating cash flows amounting Rs. 15,752.89 during the year ended 31 March 2023 (31
March 2022: Rs. (4,447.04). The financial statements have been prepared on the assumption that the Company will continue as a going
concern based on continuing financial and operational support from the Holding Company. Therefore, these conditions indicates that no
material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Accordingly, the
Company will be able to realize its assets and discharge its liabilities as recorded in these financial statements in the normal course of
business.
Operating cycle and basis of classification of assets and liabilities
The Company presents assets and liabilities in the Balance Sheet based on current/ non-current classification.
An asset is classified as current when it is:
- expected to be realised or intended to be sold or consumed in the normal operating cycle
- held primarily for the purpose of trading
- expected to be realised within twelve months from the end of reporting period, or
- cash or cash equivalent unless restricted from being exchanged or used to settle a liability for atleast twelve months from the end of
reporting period
All other assets are classified as non-current.
A liability is classified as current when:
- it is expected to be settled in the normal operating cycle
- it is held primarily for the purpose of trading
- it is due to be settled within twelve months from the end of reporting period, or
- there is no unconditional right to defer the settlement of the liability beyond twelve months from the end of reporting period
All other liabilities are classified as non-current.
Based on the nature of service and the time between the rendition of service and their realisation in cash and cash equivalents, the Company
has ascertained its operating cycle as twelve months for the purpose of current and non current classification of assets and liabilities.
b) Disclosure relaxation
77
The Company is a Small and Medium Sized Company ('SMC'), as defined in the General Instructions in respect of Accounting Standards
('AS') notified under the Act. Accordingly, the Company has complied with the Accounting Standards as applicable to a Small and Medium
Sized Company. Pursuant to exemptions/ relaxations available to an SMC, AS 17 - Segment Reporting, and certain disclosure requirements
of AS 15 - Employee Benefits, AS 19 - Leases and AS 29 - Provisions, Contingent Liabilities and Contingent Assets are not applicable to the
Company for the current year.
c) Use of estimates
The preparation of the financial statements in conformity with accounting principles requires the management to make estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the end
of reporting period. Although these estimates are based on the management's best knowledge of current events and actions, uncertainty about
these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in
future period. Any revision to accounting estimates is recognised prospectively in the current and future periods. Significant estimates used
by management in the preparation of these financial statements includes estimates of the economic useful lives of the property, plant and
equipment and intangible assets, accruals for employee benefits, provision for warranty and deferred taxes.
d) Inventories
Raw materials and components are valued at lower of cost and estimated net realisable value, after providing for obsolescence. Costs are
determined on a first in first out (FIFO) basis. Costs includes material purchase price, inward freight and other incidental overheads incurred
in bringing the inventories to their present location and condition, net of refundable taxes. However, raw materials and components held for
use in production of inventories are not valued below cost if the manufactured products in which they will be incorporated are expected to be
sold at or above cost.
Work-in-progress and finished goods are valued at lower of cost and net realisable value. Cost includes direct materials and labour and a
proportion of manufacturing overheads based on normal operating capacity. Costs are determined on a FIFO basis.
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs
necessary to make the sale.
e) Property, plant and equipment
Property, plant and equipment are stated at their original cost of acquisition less accumulated depreciation and accumulated impairment loss,
if any. The cost comprises of the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.
Any trade discounts, rebates and government grants received are deducted in arriving at the purchase price.
Subsequent expenditure related to an item of property, plant and equipment is added to its book value only if it increases the future benefits
from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including
day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the Statement of Profit and Loss for the period
during which such expenses are incurred.
The cost incurred towards Property, plant and equipment, but not ready for their intended use before each Balance Sheet date is disclosed as
capital work-in-progress, if any.
Gains or losses arising from derecognition of property, plant and equipment are measured as the difference between the net disposal proceeds
and the carrying amount of assets and are recognised in the Statement of Profit and Loss when the asset is derecognised.
f) Intangible assets
Intangible assets include cost of acquired software. Intangible assets are initially measured at acquisition cost including directly attributable
costs of preparing the asset for its intended use.
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the
carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.
The residual values, useful lives and methods of amortization of intangible assets are reviewed at each financial year end and adjusted
prospectively, if appropriate.
g) Depreciation/amortisation
78
Depreciation / amortisation is provided under the straight-line method based on the estimated useful life of the assets which is either less than
or equal to the corresponding life in Schedule II of the Act. Depreciation is calculated on a pro-rata basis from the date of installation till the
date the assets are sold or disposed.
The management believes that depreciation rates currently used fairly reflect its estimate of the useful lives and residual values of property,
plant and equipment, though these rates in certain cases are different from lives prescribed under Schedule II.
The Company has used the following useful lives to provide depreciation on its fixed assets.
Asset Category Useful life (years)
Computer equipments 3-6
Furniture and fixtures 10
Electrical installations 10
Office equipments 5
Vehicles 5-10
Leasehold improvements* 5
Plant & Machinery 3-15
*Leasehold Improvements are depreciated over shorter of useful life or lease period.
The Company amortises intangible over their estimated useful lives using the straight-line method. Intangible assets are amortised over a
period of three years.
h) Impairment of assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment
exists, the recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their
recoverable amount. The recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by
discounting the future cash flows to their present value based on an appropriate discount factor. When there is indication that an impairment
loss recognised for an asset in earlier accounting periods no longer exists or may have decreased, such reversal of impairment loss is
recognised in the Statement of Profit and Loss, except in case of revalued assets.
i) Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably
measured. The following specific recognition criteria must also be met before revenue is recognised:
i) Income from services
Income from export of services is recognised when the service are rendered. Such income is recognised on the basis of an agreement entered
into with the Holding Company.
79
Income from services provided within India is recognised when the services are rendered. Such income is recognised on the basis of an
agreement entered into with the fellow subsidiary.
ii) Income from sale of goods
Revenue from sale of goods is recognised when all the significant risks and rewards of ownership of the goods have been passed to the buyer.
The Company collects Goods and Service Tax on behalf of the government and, therefore these are not economic benefits flowing to the
Company. Hence, they are excluded from revenue
iii) Interest income
Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.
j) Foreign currency transactions
Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between
the reporting currency and the foreign currency at the date of the transaction.
Foreign currency monetary items outstanding as at the year end are reported using the closing rate. The resultant exchange differences are
recognised in the Statement of Profit and Loss. Non-monetary items which are carried in terms of historical cost denominated in a foreign
currency are reported using the exchange rate at the date of the transaction.
Exchange difference arising on the settlement of monetary items or on reporting Company's monetary item at rates different from those at
which they were initially recorded during the year, or reported in previous financial statements are recognised as expenses or income in the
year in which they arise.
k) Leases
Operating lease payments are recognised as an expense in the Statement of Profit and Loss on a straight-line basis over the lease term unless
other systematic basis is more representative of the time pattern of the benefit.
Assets taken on lease by the Company in its capacity as lessee, where the Company has substantially all the risks and rewards of ownership
are classified as finance lease. Such leases are capitalised at the inception of the lease at lower of the fair value or present value of the
minimum lease payments and a lease liability is recognised for an equivalent amount. The principal component in the lease rental is adjusted
against the lease liability and the interest component is charged to Statement of Profit and Loss.
l) Cash and cash equivalents
Cash and cash equivalents for the purpose of cash flow statement comprise cash in hand and cash at bank and short-term investments with an
original maturity of three months or less.
m) Provisions
A provision is recognised when an enterprise has a present obligation as a result of a past event and it is probable that an outflow of resources
will be required to settle the obligation and in respect of which a reliable estimate can be made. Provisions, are not discounted to their present
value and are determined based on 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.
n) Contingent liability
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. The Company discloses the contingent
liabilities in notes to the financial statements.
80
o) Borrowing costs
Borrowing costs that are attributable to the acquisition and/or construction of qualifying assets are capitalized as part of the cost of such
assets, in accordance with Accounting Standard (AS) 16 - "Borrowing Costs". A qualifying asset is one that necessarily takes a substantial
period of time to get ready for its intended use. All other borrowing costs are charged to the Statement of Profit and Loss as incurred. Income
on temporary investments of those borrowings is reduced from such borrowing costs.
p) Retirement and other employee benefits
i) Provident fund
Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no obligation, other than the
contribution payable to the provident fund. The Company recognizes contribution payable to the provident fund scheme as an expenditure,
when an employee renders the related service.
ii) Gratuity
The Company provides for gratuity, a defined benefit plan ("the Gratuity Plan") covering eligible employees in accordance with the Payment
of Gratuity Act, 1972. The Gratuity Plan provides a lump sum payment to vested employees at retirement death, incapacitation or termination
of employment, of an amount based on the respective employee's salary and the tenure of the employment. The Company's liability is
determined by the actuary (using the Projected Unit Credit method) at the end of each year. If an asset is determined by the actuary at the end
of each year, the same is measured at lower of the amount determined (using the Projected Unit Credit method)) and the present value of any
economic benefits available in the form of refunds from the plan or reduction in the future contributions to the plan. Actuarial losses / gains
are recognised in the Statement of Profit and Loss in the year in which they arise.
iii) Compensated absences
Accumulated leave, which is expected to be utilized within the next twelve months, is treated as short-term employee benefit. The company
measures the expected cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has
accumulated at the reporting date.
The Company treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee benefit for
measurement purposes. Such long-term compensated absences are provided for based on the actuarial valuation using the projected unit
credit method at the year-end. Actuarial gains/losses are immediately taken to the statement of profit and loss and are not deferred. The
Company presents the leave as a current liability in the Balance Sheet, to the extent it does not have an unconditional right to defer its
settlement for twelve months after the reporting date. Where the Company has the unconditional legal and contractual right to defer the
settlement for a period beyond twelve months, the same is presented as non-current liability.
The Company recognizes termination benefit as a liability and an expense when the company has a present obligation as a result of past
event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate
can be made of the amount of the obligation. If the termination benefits fall due more than twelve months after the Balance Sheet date, they
are measured at present value of future cash flows using the discount rate determined by reference to market yields at the Balance Sheet date
on government bonds.
(iv) Equity settled share-based payment
Specific employees are eligible to participate in the share-based compensation plans of the Holding Company. The plan is assessed, managed
and administered by the Holding Company. The Company recognises the employee cost in a share-based payment transaction as the services
are rendered by the employees. The Company does not have an obligation to provide its Holding Company's equity instruments to the
employees. Therefore, the Company measures the services received from employees in accordance with the requirements applicable to the
equity-settled share-based payment transactions and recognise the corresponding increase in equity as a contribution from the Holding
Company.
q) Tax expense
Tax expense comprises of current and deferred tax. Current income tax is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961 enacted in India. The tax rates and tax laws used to compute the amount are those that are enacted
or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of current year timing differences between taxable income and accounting income originating
during the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or
81
substantively enacted at the Balance Sheet date.
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current tax
liabilities and the deferred tax assets and deferred tax liabilities relate to the taxes on income levied by same governing taxation laws.
Deferred tax liabilities are recognised for all the taxable timing differences. Deferred tax assets are recognised only to the extent that there is
reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. In situations
where the Company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognised only if there is virtual
certainty supported by convincing evidence that they can be realised against future taxable profits.
At each Balance Sheet date the Company re-assesses unrecognised deferred tax assets. It recognises un-recognised deferred tax assets to the
extent that it has become reasonably certain or virtually certain, as the case may be that sufficient future taxable income will be available
against which such deferred tax assets can be realised.
The carrying amount of deferred tax assets are reviewed at each Balance Sheet date. The Company writes-down the carrying amount of a
deferred tax asset to the extent that it is no longer reasonably certain or virtually certain, as the case may be, that sufficient future taxable
income will be available against which deferred tax asset can be realised. Any such write-down is reversed to the extent that it becomes
reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be available.
r) Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. Partly paid equity shares are treated as a fraction of an equity share to the
extent that they were entitled to participate in dividends relative to a fully paid equity share during the reporting period.
Disclosure of general information about company [Text Block]

Sun Mobility Private Limited ("the Company") is in the business of Manufacturing of smart batteries, Quick interchange station and related
products. The registered office of the Company is located at No 25, Doddanakundi Industrial Area,Mahadevapura Post, Whitefield Main
Road, Bengaluru, Karnataka - 560048
The Company also provides Engineering support services related to smart batteries, quick-interchange stations, battery-vehicle integration,
and IoT-based cloud platform for energy infrastructure management. During the year, the Company has started providing Electric Vehicle
Mobility which leverages its existing proprietary energy infrastructure platform to provide Mobility as a Service to its customers.
[201700] Notes - Government grants

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[201200] Notes - Employee benefits

01/04/2022
to
31/03/2023
Disclosure of employee benefits explanatory [TextBlock] -
82
[300400] Notes - Employee share-based payments

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on employee share-based payment arrangements explanatory Textual information (38)
[TextBlock] [See below]
Disclosure of measurement of fair value of other instruments granted
during period explanatory [TextBlock]
Number of instruments other instruments granted 0 0
83
Disclosure of notes on employee share-based payment arrangements explanatory [Text Block]

The Institute of Chartered Accountants of India has issued a Guidance Note on Accounting for Employee Share-based Payments, which is
applicable to employee share based payment plans ('Guidance Note'). The Guidance Note applies to all share-based payment plans the grant
date in respect of which falls on or after 1 April 2021. The Holding Company had instituted 'Employee Stock Option Plan 2019' under which
stock options were granted to specified employees. During the year, the Holding Company has granted Employee Stock Options ('ESOP') of
its own shares to the specific employees of the Company. The Holding Company has not recharged any cost to the Company relating to the
ESOP granted to the employees of the Company. According to the requirements of the Guidance Note, the Company has recorded the share
based payment related expense under note 20, Employee benefits expense with the corresponding impact as capital contribution from the
Holding Company under note 4, Reserves and Surplus.
Details of the activities:
Particulars No: of options WAEP*
Outstanding at the beginning of the year 16,410 $8.26
Granted during the year 92,500 $4.83
Lapsed during the year - -
Exercised during the year - -
Outstanding at the end of the year 1,08,910 $5.35
Exercisable at the end of the year -
The weighted average fair value of the options granted during the year was $ 14.04 per share option issued. Black Scholes valuation model
has been used for computing the weighted average fair value considering the following inputs:
Particulars 31 March 2023
Dividend yield (%) 0%
Expected volatility 47.70% - 57.50%
Risk free interest rate 2.56% - 4.09%
Exercise price $5.35
Expected life of the option (in years) 4
84
The expected life of the options is based on historical data and current expectations and is not necessarily indicative of the exercise patterns
that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is
indicative of future trends, which may differ from the actuals.
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] Related1 Related2
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31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of relationship and transactions between
related parties [Abstract]
related parties [LineItems]
SUN Mobility Pte. SUN Mobility Pte. SUN Mobility SUN Mobility
Name of related party Limited Limited Holdings Pvt. Ltd. Holdings Pvt. Ltd.
Country of incorporation or residence of related
SINGAPORE SINGAPORE MAURITIUS MAURITIUS
party
Ultimate Holding Ultimate Holding
Description of nature of related party relationship Holding company Holding company
company company
Description of nature of transactions with related
As per below As per below As per below As per below
party
Related party transactions [Abstract]
Revenue from sale of goods related party
72.75 0
transactions
Revenue from rendering of services related
(A) 4,881.87 3,782.22
party transactions
Transfers under finance agreements related
party transactions [Abstract]
Equity contributions received under
finance agreements related party (B) 15,347.74 9,000
transactions
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions (C) 2,906.71 490.88
Amounts receivable related party transactions (D) 98.33 233.3
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties
Footnotes
(A) Service income (Engineering services)
(B) Subscription towards share capital
(C) External commercial borrowings and Advance Received
(D) Advance paid, Trade receivables and Unbilled Revenue
85

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31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of relationship and
transactions between
MAINI MATERIALS MAINI MATERIALS MAINI PLASTICS AND MAINI PLASTICS AND
Name of related party MOVEMENT PRIVATE MOVEMENT PRIVATE COMPOSITES PRIVATE COMPOSITES PRIVATE
LIMITED LIMITED LIMITED LIMITED
Country of incorporation or
residence of related INDIA INDIA INDIA INDIA
party
CIN of related party U60231KA1984PTC006017 U60231KA1984PTC006017 U25208KA2009PTC051684 U25208KA2009PTC051684
Enterprises which are Enterprises which are Enterprises which are Enterprises which are
owned, or have significant owned, or have significant owned, or have significant owned, or have significant
Description of nature of related
influence of or are partners influence of or are partners influence of or are partners influence of or are partners
party relationship with Key management with Key management with Key management with Key management
personnel and their relatives personnel and their relatives personnel and their relatives personnel and their relatives
Description of nature of
transactions with related As per below As per below As per below As per below
party
Related party transactions
[Abstract]
Purchases of goods related
2.96 1.82
party transactions
Purchases of tangible assets
related party 6.17 0 0 1.18
transactions
Other related party transactions
(A) 1.61 0
expense
Outstanding balances for related
party
Amounts payable related party
0.93 0 0 0
transactions
Amount written off during period
in respect 0 0 0 0
Amount written back during
period in respect 0 0 0 0
Footnotes
(A) Other expenses
86

01/04/2022 01/04/2021 01/04/2022 01/04/2021
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31/03/2023 31/03/2022 31/03/2023 31/03/2022

SUN MOBILITY EV SUN MOBILITY EV
Name of related party Gallery G Gallery G INFRA PRIVATE INFRA PRIVATE
LIMITED LIMITED
INDIA INDIA INDIA INDIA
party
Permanent account number of related party ANMPM3041L ANMPM3041L
CIN of related party U74999KA2019PTC167865 U74999KA2019PTC167865
Enterprises which Enterprises which
are owned, or have are owned, or have
Enterprises which are Enterprises which are
significant significant influence
Description of nature of related party relationship influence of or are of or are partners owned, or have significant owned, or have significant
influence of or are partners influence of or are partners
partners with Key w i t h Key
with Key management with Key management
management management
personnel and their relatives personnel and their relatives
personnel and their personnel and their
relatives relatives
party
16,639.33 1,360.71
transactions
Purchases of tangible assets related party
199.18 0
transactions
Revenue from rendering of services related
(A) 245.94 44.85
party transactions
Other related party transactions expense (B) 3.77 0.6 (C) 478.75 82.26
Amounts payable related party transactions 385.39 8.24
Amounts receivable related party transactions (D) 18,871.38 1,382.55
0 0 0 0
0 0 0 0
Footnotes
(A) Service income (AMC)
(B) Other expenses
(C) Other expenses
(D) Trade receivables, Security deposit paid and Unbilled revenue
87

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31/03/2023 31/03/2022 31/03/2023 31/03/2022
Devender Singh Devender Singh
Virya Mobility 5.0 Virya Mobility 5.0
Name of related party LLP LLP
Rawat, Director Rawat, Director
(Upto June 2021) (Upto June 2021)
party
Permanent account number of related party AAOFV8440K AAOFV8440K AEZPR6914H AEZPR6914H
Enterprises which Enterprises which are
are owned, or have owned, or have
significant significant influence
influence of or are of or are partners Key Management Key Management
Description of nature of related party relationship partners with Key w i t h K e y Personnel Personnel
management management
personnel and their personnel and their
relatives relatives
party
Purchases of goods related party transactions (A) 2,464.37 209.56
0 0.26
transactions
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0 19.82
Amounts payable related party transactions 1,140.43 0
Amounts receivable related party transactions 0 235.93
0 0 0 0
0 0 0 0
Footnotes
(A) Purchase of traded goods and Purchase of manufactured goods
88

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31/03/2023 31/03/2022 31/03/2023 31/03/2022
ARMES MAINI ARMES MAINI
SUN RENEWABLES WH SUN RENEWABLES WH
Name of related party STORAGE SYSTEMS STORAGE SYSTEMS
PRIVATE LIMITED PRIVATE LIMITED
PRIVATE LIMITED PRIVATE LIMITED
Country of incorporation or
residence of related INDIA INDIA INDIA INDIA
party
CIN of related party U06302KA2005PTC036923 U06302KA2005PTC036923 U74999DL2016PTC308036 U74999DL2016PTC308036
Enterprises which are Enterprises which are Enterprises which are Enterprises which are
owned, or have significant owned, or have significant owned, or have significant owned, or have significant
Description of nature of related
influence of or are partners influence of or are partners influence of or are partners influence of or are partners
party relationship with Key management with Key management with Key management with Key management
personnel and their relatives personnel and their relatives personnel and their relatives personnel and their relatives
Description of nature of
transactions with related As per below As per below As per below As per below
party
[Abstract]
Purchases of tangible assets
related party 30.15 0
transactions
Other related party transactions
(A) 11 75.75
expense
Outstanding balances for related
party
Amounts payable related party
0.53 0 0 3.48
transactions
Amounts receivable related
0 (B) 8.36
party transactions
Amount written off during period
in respect 0 0 0 0
Amount written back during
period in respect 0 0 0 0
Footnotes
(A) Other expenses
(B) Advance paid
89

01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subhash Mohan Subhash Mohan Anant Badjatya, Anant Badjatya,
Name of related party Bhat, Chief Bhat, Chief Financial Chief Executive Chief Executive
Financial Officer Officer Officer Officer
party
Permanent account number of related party AAAPB6132G AAAPB6132G AHDPB2554N AHDPB2554N
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
party
[Abstract]
Remuneration for key managerial personnel 106.24 33.31 284.74 77.84
0 0 0 0
0 0 0 0

Categories of related parties [Axis] Related13 Related14 Related15
01/04/2022 01/04/2021 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2023
Pallavi Malik, BOSCH AUTOMOTIVE
Pallavi Malik,
Name of related party Company
Company Secretary
ELECTRONICS INDIA BOSCH LIMITED
Secretary PRIVATE LIMITED
party
Permanent account number of related party BLFPM0966C BLFPM0966C
CIN of related party U29221KA2008PTC045987 L85110KA1951PLC000761
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
influence of or are partners influence of or are partners
with Key management with Key management
personnel and their relatives personnel and their relatives
party
Purchases of goods related party transactions 1,647.98
206.79
transactions
Other related party transactions expense 13.01
[Abstract]
Remuneration for key managerial personnel 2.5 1.67
Amounts payable related party transactions 1,613.09
Amounts receivable related party transactions (A) 56.62
0 0 0 0
0 0 0 0
Footnotes
(A) Advance paid
90

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on related party explanatory [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)
91
Disclosure of notes on related party explanatory [Text Block]

a) Names of related parties and their relationship
Nature of relationship Name of related party
I. Holding Company Sun Mobility Pte. Limited, Singapore
II. Ultimate Holding Company Sun Mobility Holdings Pvt. Ltd., Mauritius
III. Key management personnel (KMP) Uday Harsh Khemka, Director
Sandeep Maini, Director
Chetan Kumar Maini, Director
Ajay Kumar Goel, Director
Guruprasad Mudlapur, Director
Jo Ming Joel Cheung, Additional Director
Pallavi Malik, Company Secretary
Subhash Mohan Bhat, Chief Financial Officer
Anant Badjatya, Chief Executive Officer
IV. Enterprise in which KMP have significant influence Maini Materials Movement Private Limited
Maini Plastics and Composits Private Limited
Armes Maini Storage Systems Private Limited
92
Gallery G
Sun Mobility EV Infra Private Limited
Virya Mobility 5.0 LLP
Sun Renewable Energy Services Pvt Ltd
Sun Renewables WH Pvt Ltd
[201400] Notes - Leases
Disclosure of minimum finance lease payments and present value by lessee [Table] ..(1)
Maturity [Axis] Aggregated time bands [Member] Not later than one year [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease by lessee [Abstract]
Disclosure of minimum finance lease payments
and present value by lessee [Abstract]
Disclosure of finance lease by lessee
[LineItems]
Minimum finance lease payments payable 526.23 172.65 218.83 62.88
Disclosure of minimum finance lease payments and present value by lessee [Table] ..(2)
Later than one year and not later than
Maturity [Axis]
five years [Member]
31/03/2023 31/03/2022
Disclosure of finance lease and operating lease by lessee [Abstract]
Disclosure of finance lease by lessee [Abstract]
Disclosure of minimum finance lease payments and present value by lessee [Abstract]
Disclosure of finance lease by lessee [LineItems]
Minimum finance lease payments payable 307.4 109.77

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of leases explanatory [TextBlock] [See below]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
93
Disclosure of leases explanatory [Text Block]

Leases
Financial lease
The Company has obtained IT equipments under finance lease with lease term of 3 years.
(A) Future minimum lease payments expected to be made as at March 31, 2023: Discounted basis Undiscounted basis
Future minimum lease payments 526.23 616.69
526.23 616.69
(B) Details of maturities of lease liabilities as at March 31, 2023: Discounted basis Undiscounted basis
-Not later than one year 218.83 276.29
-Later than one year but not later than five year 307.40 340.40
-Later than five years - -
526.23 616.69
[300300] Notes - Earnings per share

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of earnings per share explanatory [TextBlock]
Weighted average shares and adjusted weighted average shares [Abstract]
Basic weighted average shares [shares] 21,15,82,560 [shares] 6,54,16,849
Adjusted weighted average shares [shares] 0 [shares] 0
Diluted weighted average shares [shares] 21,15,82,560 [shares] 6,54,16,849
Adjustments of numerator to calculate basic earnings per share [Abstract]
Numerator to calculate basic earnings per share -4,400.64 -1,877.09
Adjustments to reconcile numerator to calculate basic
earning per share to net profit or loss as per statement of 0 0
profit or loss
Profit (loss) for period -4,400.64 -1,877.09
Adjustments of numerator to calculate diluted earnings per share [Abstract]
Numerator to calculate diluted earnings per share -4,400.64 -1,877.09
Adjustments to reconcile numerator to calculate diluted
earning per share to net profit or loss as per statement of 0 0
profit or loss
Profit (loss) for period -4,400.64 -1,877.09
94
[202800] Notes - Subsidiary information

01/04/2022
to
31/03/2023
Disclosure of subsidiary information explanatory [TextBlock]
Whether company has subsidiary companies No
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
[201900] Notes - Income taxes

01/04/2022
to 31/03/2022
31/03/2023
Disclosure of notes on income taxes explanatory [TextBlock] [See below]
Disclosure of breakup of deferred tax assets and deferred tax liabilities
[Abstract]
Components of deferred tax assets [Abstract]
Deferred tax asset, employee benefits 263.93 64.35
Deferred tax asset, depreciation -139.94 43.55
Deferred tax asset, other (A) 159.21

48.08
Total deferred tax assets 283.2 155.98
Footnotes
(A) Lease rent equalisation,Warranty, Leased asset and Others
Disclosure of notes on income taxes explanatory [Text Block]

- Transfer pricing
As per transfer pricing legislation under Sections 92-92F of the Income-tax Act, 1961, the Company is required to use certain specific
methods in computing arm's length prices of international transactions with associated enterprises and maintain adequate documentation in
this respect. Since law requires existence of such information and documentation to be contemporaneous in nature, the Company updates the
transfer pricing study every year to ensure that the transactions with associate enterprises undertaken are at "arms length basis". Management
is of the opinion that the Company's international transactions are at arm's length as there is no significant change in assumptions or terms of
contract. The Company has carried out a detailed transfer pricing study for the period 1 April 2021 to 31 March 2022 and is in the process of
updating the transfer pricing documentation for the period 1 April 2022 to 31 March 2023. In the opinion of the management, the same
would not have an impact on these financial statements. Accordingly, these financial statements do not include the effect of the transfer
pricing implications, if any.
[202400] Notes - Investments in associates

01/04/2022
to
31/03/2023
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
Whether company has associates liquidated or sold during year No
95
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2022
to
31/03/2023
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
[202100] Notes - Other provisions, contingent liabilities and contingent assets
Disclosure of contingent liabilities [Table] ..(1)

Company total contingent liabilities
Classes of contingent liabilities [Axis] Other contingent liabilities [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [LineItems]
Bank guarantees to Bank guarantees to
Bank guarantees to Bank guarantees to
Description of nature of contingent liabilities Customs
Customs Department
Customs
Customs Department
Department Department
Estimate of financial effect of contingent
148.81 90.8 148.81 90.8
liabilities
Disclosure of contingent liabilities [Table] ..(2)

Classes of contingent liabilities [Axis] Other guarantees given [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [LineItems]
Bank guarantees to
Bank guarantees to
Description of nature of contingent liabilities Customs
Customs Department
Department
Estimate of financial effect of contingent liabilities 148.81 90.8

01/04/2022
to
31/03/2023
Disclosure of notes on other provisions, contingent liabilities and
contingent assets explanatory [TextBlock]
Disclosure of other provisions explanatory [TextBlock]
Disclosure of contingent liabilities explanatory [TextBlock] [See below]
96
Disclosure of contingent liabilities explanatory [Text Block]

Commitments and contingencies
(i) Estimated amount of contracts remaining to be executed on capital expenditure and not provided for (net of advances) for financial year
31 March 2023 is amounting to Rs. 4,159.62 (31 March 2022: Rs. 182.06 ).
(ii) The Company has given bank guarantees to Customs Department and to Goverment entities amounting to Rs. 148.81 (31 March
2022: Rs. 90.80 ) for import of battery parts used in manufacturing of battery for electronically operated vehicles, at concessional rate of
duty.
(iii) The Company is party to a legal matter arising in the ordinary course of business. In the opinion of the management the disposition of
this matter will not have a material impact on the Company.
[202700] Notes - Cash flow statements

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of cash flow statement explanatory [TextBlock]
Description of accounting policy to determine components of cash and cash Textual information (43)
equivalents [TextBlock] [See below]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 2,436.96 1,985.1
Total cash and cash equivalents 2,436.96 1,985.1
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 22.51 5.09
Total income taxes paid (refund) 22.51 5.09
Description of accounting policy to determine components of cash and cash equivalents [Text Block]
Cash and cash equivalents for the purpose of cash flow statement comprise cash in hand and cash at bank and short-term investments with an
original maturity of three months or less.
97
[100200] Statement of profit and loss

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 17,960.39 1,762.3
Revenue from sale of services 7,415.73 4,293.93
Other operating revenues 0 0
Total revenue from operations other than finance company 25,376.12 6,056.23
Total revenue from operations 25,376.12 6,056.23
Other income 401.39 281.67
Total revenue 25,777.51 6,337.9
Expenses [Abstract]
Cost of materials consumed 13,736.52 1,157.82
Purchases of stock-in-trade 2,464.37 209.56
Changes in inventories of finished goods, work-in-progress and
-1,085.87 24.1
stock-in-trade
Employee benefit expense 6,765.93 3,918.27
Finance costs 531.27 86
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 946.78 263.57
Amortisation expense 18.9 16.64
Total depreciation, depletion and amortisation expense 965.68 280.21
CSR expenditure 0 0
Other expenses 6,947.11 2,579.41
Total expenses 30,325.01 8,255.37
Total profit before prior period items, exceptional items, extraordinary
-4,547.5 -1,917.47
items and tax
Total profit before extraordinary items and tax -4,547.5 -1,917.47
Total profit before tax -4,547.5 -1,917.47
Tax expense [Abstract]
Current tax (A) -19.64
0
Deferred tax -127.22 -40.38

Total tax expense -146.86 -40.38
Total profit (loss) for period from continuing operations -4,400.64 -1,877.09
Total profit (loss) for period before minority interest -4,400.64 -1,877.09
Total profit (loss) for period -4,400.64 -1,877.09
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] -2.08 [INR/shares] -2.87
Diluted earnings per equity share [INR/shares] -2.08 [INR/shares] -2.87
Basic earning per equity share before extraordinary items [INR/shares] -2.08 [INR/shares] -2.87
Diluted earnings per equity share before extraordinary items [INR/shares] -2.08 [INR/shares] -2.87
Nominal value of per equity share [INR/shares] 10 [INR/shares] 10
Footnotes
(A) Current tax (includes tax adjustment of prior years)
98
[300500] Notes - Subclassification and notes on income and expenses

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from sale of products [Abstract]
Disclosure of revenue from sale of products explanatory [TextBlock] [See below]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross 17,960.39 1,762.3
Total revenue from sale of products 17,960.39 1,762.3
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 7,415.73 4,293.93
Total revenue from sale of services 7,415.73 4,293.93
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 0 0
Total other operating revenues 0 0
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 215.67 54.83
Interest on other current investments (A) 0.73

0.35
Total interest income on current investments 216.4 55.18

Interest income on long-term investments [Abstract]
Interest on other long-term investments 0 0
Total interest income on long-term investments 0 0
Total interest income 216.4 55.18
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from others 0 0
Total dividend income current investments 0 0
Dividend income long-term investments [Abstract]
Dividend income long-term investments from others 0 0
Total dividend income long-term investments 0 0
Total dividend income 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
0
income (B) 93.15
Income import entitlements (C) 79.82

219.58
Interest on income tax refund 0.6 0.21

Miscellaneous other non-operating income 11.42 6.7
Total other non-operating income 184.99 226.49
Total other income 401.39 281.67
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, others 407.37 44.45
Total interest expense long-term loans 407.37 44.45
Interest expense short-term loans [Abstract]
Interest expense short-term loans, others 0 0
Total interest expense short-term loans 0 0
Interest lease financing 40.75 10.61
Other interest charges 0

(D) 15.94
Total interest expense 448.12 71
Other borrowing costs 83.15 15
Total finance costs 531.27 86
Employee benefit expense [Abstract]
Salaries and wages 6,290.02 3,613.65
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
99
Salary to directors 0 19.82

Total remuneration to directors 0 19.82
Remuneration to manager [Abstract]
Salary to manager 0 0
Total remuneration to manager 0 0
Total managerial remuneration 0 19.82
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 280.93 160.65
Total contribution to provident and other funds 280.93 160.65
Expense on employee stock option scheme and employee stock purchase plan (E) 52.66
68.06
Staff welfare expense 142.32 56.09

Total employee benefit expense 6,765.93 3,918.27
Breakup of other expenses [Abstract]
Consumption of stores and spare parts (F) 50.65
130
Power and fuel 612.12 173.67

Rent 654.07 222.57
Repairs to building (G) 103.43

48.3
Repairs to machinery 26.11 16.77

Insurance 90.78 53.84
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 93.65 109.4
Total rates and taxes excluding taxes on income 93.65 109.4
Research development expenditure 244.52 153.73
Subscriptions membership fees 30.75 10.7
Telephone postage 132.47 32.24
Printing stationery 9.38 2.47
Information technology expenses (H) 383.46

172.78
Travelling conveyance 337.65 95.42

Legal professional charges 535.87 506.66
Directors sitting fees 0 0
Advertising promotional expenses (I) 265.2

25.29
Transportation distribution expenses 310.04 20.65
Cost repairs maintenance other assets (J) 801.63

147.09
Provision bad doubtful debts created 0 37.57

Provision bad doubtful loans advances created 0 0
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Other miscellaneous expenditure written off 0 0
Total miscellaneous expenditure written off 0 0
Fixed assets written off 9.48 0
Bad debts written off 0 0
Bad debts advances written off 0

(K) 8.02
Total write-off assets 9.48 8.02
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 3.96
tangible asset
Contract cost [Abstract]
Site labour supervision cost contracts (L) 1,469.42
386.68
Warranty cost contracts 450.03 72.72

Total contract cost 1,919.45 459.4
Payments to auditor [Abstract]
Payment for audit services 23 17
Payment for reimbursement of expenses (M) 0.55

0.56
Total payments to auditor (N) 23.55

17.56
Miscellaneous expenses (O) 312.85

131.32
Total other expenses 6,947.11 2,579.41

Current tax [Abstract]
Current tax pertaining to current year (P) -19.64
0
Total current tax (Q) -19.64

0
100
Footnotes
(A) Interest on security deposit
(B) Net gain on foreign currency transactions and translations
(C) Duty drawback
(D) Interest on delayed payment of taxes
(E) Stock compensation charges
(F) Stores consumed
(G) Office maintenance
(H) Software subscription
(I) Marketing and advertisement
(J) Repairs and maintenance and Energy management and infrastructure maintenance cost
(K) Advance given to vendors written off
(L) Subcontracting
(M) Out of pocket expenses
(N) Excluding goods and service tax
(O) Net loss on foreign currency transactions and translations, Deployment and Miscellaneous
(P) Current tax (includes tax adjustment of prior years)
(Q) Current tax (includes tax adjustment of prior years)
101
Disclosure of revenue from sale of products explanatory [Text Block]
(Rs. in Lakhs)
Year ended 31 March 2023 Year ended 31 March 2022
Revenue from operations
Sale of services 7,415.73 4,293.93
Sale of manufactured goods 15,156.75 1,614.00
Sale of traded goods 2,803.64 148.30
25,376.12 6,056.23
Details of manufactured goods sold:
Bus battery pack - 145.28
Wheeler battery 13,801.57 1,362.59
Wheeler charging station - 62.21
Other components 1,355.18 43.92
15,156.75 1,614.00
Details of sale of services:
Re-engineering services 4,881.87 3,786.54
Battery swapping revenue 413.63 149.30
Mobility as a Service 1,826.89 286.87
102
Others 293.34 71.22
7,415.73 4,293.93
[300600] Notes - Additional information statement of profit and loss
Details of goods purchased [Table] ..(1)

Categories of goods purchased [Axis] Goods purchased [Member] Goods purchased 1 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Additional information on profit and loss account
[Abstract]
Additional details in case of manufacturing companies
[Abstract]
Details of goods purchased [Abstract]
Details of goods purchased [LineItems]
Purchase of traded Purchase of traded Purchase of traded Purchase of traded
Description of goods purchased goods goods goods goods
Total goods purchased 2,464.37 209.56 2,464.37 209.56
Details of raw materials consumed [Table] ..(1)

Categories of raw materials consumed [Axis] Raw materials consumed [Member] Raw materials consumed 1 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
[Abstract]
Details of raw materials consumed [Abstract]
Details of raw materials consumed [LineItems]
Cost of materials Cost of materials Lithium-ion battery Lithium-ion battery
Description of raw materials category consumed consumed cells cells
Total raw materials consumed 13,736.52 1,157.82 10,593.71 650.36

Categories of raw materials consumed [Axis] Raw materials consumed 2 [Member] Raw materials consumed 3 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
[Abstract]
[Abstract]
Other Core battery Other Core battery
parts (Wheeler parts (Wheeler
battery pack, battery pack, battery
Description of raw materials category Chargers Chargers
battery management management control
control unit, printed unit, printed circuit
circuit board) board)
Total raw materials consumed 196.06 0 1,732.83 121.48
103

Categories of raw materials consumed [Axis] Raw materials consumed 4 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Additional information on profit and loss account [Abstract]
Additional details in case of manufacturing companies [Abstract]
Description of raw materials category Others Others
Total raw materials consumed (A) 1,213.92 385.98
Footnotes
(A) comprises of items individually less than 10% of the total consumption
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods -1,015.81 106.86
Changes in inventories of stock-in-trade -70.06 -82.76
Total changes in inventories of finished goods, work-in-progress and
-1,085.87 24.1
stock-in-trade
Revenue other services 7,415.73 4,293.93
Total gross income from services rendered 7,415.73 4,293.93
Value of imports of raw materials 11,419.16 2,093.5
Total value of imports calculated on CIF basis 11,419.16 2,093.5
Expenditure on professional and consultation fees 4.1 13.94
Expenditure on other matters (A) 4.43

6.25
Expenditure on dividend paid 0 0

Total expenditure in foreign currency 8.53 20.19
Special dividend remitted in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
Earnings on other income 4,954.62 3,786.54
Total earnings in foreign currency 4,954.62 3,786.54
Domestic sale manufactured goods 15,156.75 1,614
Domestic sale traded goods 2,730.89 148.3
Total domestic turnover goods, gross 17,887.64 1,762.3
Export sale manufactured goods 0 0
Export sale traded goods 72.75 0
Total export turnover goods, gross 72.75 0
Total revenue from sale of products 17,960.39 1,762.3
Domestic revenue services 2,533.86 507.39
Export revenue services (B) 4,881.87

3,786.54
Total revenue from sale of services 7,415.73 4,293.93

Expenditure on corporate social responsibility activities as per
0 0
guidelines
Gross value of transaction with related parties as per AS-18 42,646.85 14,692.57
Bad debts of related parties as per AS-18 0 0
Footnotes
(A) Software subscription, Repairs and maintenance and Membership & subscription
(B) Re-engineering services
[300100] Notes - Revenue

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of revenue explanatory [TextBlock] [See below]
Description of accounting policy for recognition of revenue Information Information
104
Disclosure of revenue explanatory [Text Block]

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably
measured. The following specific recognition criteria must also be met before revenue is recognised:
i) Income from services
Income from export of services is recognised when the service are rendered. Such income is recognised on the basis of an agreement entered
into with the Holding Company.
Income from services provided within India is recognised when the services are rendered. Such income is recognised on the basis of an
agreement entered into with the fellow subsidiary.
ii) Income from sale of goods
Revenue from sale of goods is recognised when all the significant risks and rewards of ownership of the goods have been passed to the buyer.
The Company collects Goods and Service Tax on behalf of the government and, therefore these are not economic benefits flowing to the
Company. Hence, they are excluded from revenue
iii) Interest income
Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.
[202200] Notes - Effects of changes in foreign exchange rates

01/04/2022
to 31/03/2022
31/03/2023
Disclosure of notes on effect of changes in foreign exchange rates Textual information (46)
explanatory [TextBlock] [See below]
Details of change in classification of significant foreign operation
[Abstract]
Impact of change in classification of significant foreign operation
0 0
on shareholders' fund
Amount of foreign currency exposure that is not hedged by derivative
3,164.4 1,827.21
instrument
105
Disclosure of notes on effect of changes in foreign exchange rates explanatory [Text Block]
Unhedged foreign currency exposure
The Company does not enter into any derivative instruments to hedge its foreign currency exposures. Particulars of unhedged foreign
currency exposures as at the reporting date are as follows:
31 March 2023 31 March 2022
In original currency (USD) Amount in Rs. In original currency (USD) Amount in Rs.
External Commercial Borrowings 5.00 410.80 6.50 490.88
Trade payables 3.11 255.62 0.03 2.39
Trade receivables - - 2.90 218.69
Advances to suppliers 0.03 2.07 14.77 1,115.25
Advances from customers 30.38 2,495.91 - -
106
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] CEO CFO CS Director1
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
ANANT SUBHASH UDAY HARSH
Name of key managerial personnel or director BADJATYA MOHAN BHAT
PALLAVI MALIK
KHEMKA
Director identification number of key managerial
00323609
personnel or director
Permanent account number of key managerial
AHDPB2554N AAAPB6132G BLFPM0966C CBKPK6008F
Date of birth of key managerial personnel or
15/04/1977 15/08/1971 04/01/1986 11/07/1965
director
Designation of key managerial personnel or director CEO CFO Company Secretary Director
Qualification of key managerial personnel or
MBA CA, CS, CWA CS BA, MA and MBA
director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 284.74 106.24 2.5 0
284.74 106.24 2.5 0
director
Total key managerial personnel or director
284.74 106.24 2.5 0
remuneration
107
Key managerial personnels and directors [Axis] Director2 Director3 Director4 Director5
01/04/2022 01/04/2022 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2023 31/03/2023 31/03/2023
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
SANDEEP CHETAN KUMAR GURUPRASAD
Name of key managerial personnel or director KUMAR MAINI MAINI
Ajay Kumar Goel
MUDLAPUR
Director identification number of key managerial
01568787 01612229 06486418 07598798
Permanent account number of key managerial
ACAPM3047M AGPPM7028R ACYPG9527A AXZPM6473B
Date of birth of key managerial personnel or
31/08/1966 11/03/1970 05/11/1968 19/03/1966
director
Designation of key managerial personnel or director Director Director Director Director
MBA, Finacne from Bachelor's degree in
Booth School of Electronics
MSME from Business, Chicago Engineering from
Qualification of key managerial personnel or Bachelor of
Standford and B.Tech B a n g a l o r e
director Engineering
University (Electrical University and has
Engineering) from completed EGMP at
IIT, Delhi IIM-B.
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
director [Abstract]
Salary key managerial personnel or director 0 0 0 0
0 0 0 0
director
Total key managerial personnel or director
0 0 0 0
remuneration
Key managerial personnels and directors [Axis] Director6
01/04/2022
to
31/03/2023
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and
directors [Abstract]
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and
JO MING JOEL
Name of key managerial personnel or director CHEUNG
Director identification number of key managerial personnel or director 09476270
Date of birth of key managerial personnel or director 29/02/1996
Designation of key managerial personnel or director Director
Qualification of key managerial personnel or director Graduate
Shares held by key managerial personnel or director [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 0
Gross salary to key managerial personnel or director 0
Total key managerial personnel or director remuneration 0
108
[301000] Notes - Corporate social responsibility

01/04/2022
to
31/03/2023
Disclosure of corporate social responsibility explanatory [TextBlock]
Whether provisions of corporate social responsibility are applicable on
No
company
109

SUN - MOBILITY - PRIVATE - LIMITED - 2022-23 - Financial Statement - XML

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SUN - MOBILITY - PRIVATE - LIMITED - 2022-23 - Financial Statement - XML

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SUN MOBILITY PRIVATE LIMITED

Standalone Financial Statements for period 01/04/2022 to 31/03/2023

[400100] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[400400] Disclosures - Directors report

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(2)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(3)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(4)

Details of directors signing board report [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR

Whether there are contracts/arrangements/transactions not at arm's

Textual information (7)

Disclosure of change in nature of business [TextBlock] -

The Company has

Details of deposits which are not in compliance with requirements

Disclosure of appointment and remuneration of managerial personnels

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

The Members of SUN Mobility Private Limited

Sl. No Particulars 2022-23 2021-22

1 Total Revenue 25,777.51 6,337.90

2 Expenditure 30,325.01 8,255.37

3 Profit/(Loss) before Tax (4,547.50) (1,917.47)

4 Profit/(Loss) after Tax (4,400.64) (1,877.09)

2. STATE OF COMPANY'S AFFAIR:

3. RESERVES & DIVIDEND:

5. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Sl. No. Name of Director/KMP Designation

1. Mr. Chetan Kumar Maini Director

2. Mr. Ajay Kumar Goel Director

3. Mr. Sandeep Kumar Maini Director

4. Mr. Uday Harsh Khemka Director

5. Mr. Guruprasad Mudlapur Director

6. Mr. Jo Ming Joel Cheung Director

7. Mr. Anant Badjatya Chief Executive Officer

8. Mr. Subhash Bhat Chief Financial Officer

9. Ms. Pallavi Malik Company Secretary

6. NUMBER OF BOARD MEETINGS HELD DURING THE FINANCIAL YEAR 2022-23:

1. Mr. Chetan Kumar Maini 7(8) Yes

2. Mr. Ajay Kumar Goel 7(8) Yes

3. Mr. Sandeep Kumar Maini 4(8) NA

4. Mr. Uday Harsh Khemka 3(8) NA

5. Mr. Guruprasad Mudlapur 4(8) NA

6. Mr. Jo Ming Joel Cheung 7(8) NA

8. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:

The Company is a wholly-owned subsidary of Sun Mobility Pte. Ltd., Singapore.

1. The steps taken or impact on conservation of energy:

Total power generated during the year is Nil.

3. The capital investment on energy conservation equipment: Nil.

B) The Company has not absorbed any technology.

Foreign Exchange Earning : Rs. 4,955 Lakhs

Foreign Exchange Outgo : Rs. 11,428 Lakhs

13. CORPORATE SOCIAL RESPONSIBILITY:

16. DECLARATION OF INDEPENDENT DIRECTORS:

17. DIRECTORS RESPONSIBILITY STATEMENT:

d. the annual accounts have been prepared on a going concern basis;

18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

attached to this report as Annexure - 1.