J) Provisions, Contingent Liabilities and Contingent
Assets

A provision is recognised when an enterprise has
a present obligation as a result of past event; it
is probable that an outflow of resources will
be required to settle the obligation, in respect
of which a reliable estimate can be made.
Provisions are discounted to its 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. Contingent liabilities are
disclosed in the Notes to the standalone financial
statements.

Contingent liabilities are disclosed for (1) possible
obligations which will be confirmed only by
future events not wholly within the control of
the Company or (2) present obligations arising
from past events where it is not probable that an
outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of
the obligation cannot be mad.

Contingent assets are not recognised in these
standalone financial statements as this may result
in the recognition of income that may never be
realised. Contingent assets (if any) are disclosed in
the notes to the standalone financial statements.

K) Employee Benefits

Short term employee benefits

Short-term employee benefits are expensed as the
related service is provided. A liability is recognised
for the amount expected to be paid if the Company
has a present legal or constructive obligation
to pay this amount as a result of past service
provided by the employee and the obligation can
be estimated reliably.

Defined contribution plans:

Obligations for contributions to defined
contribution plans are expensed as the related
service is provided. Prepaid contributions are
recognised as an asset to the extent that a cash
refund or a reduction in future payments is
available.

Defined benefit plans:

The Company''s net obligation in respect of defined
benefit plans is calculated separately for each plan
by estimating the amount of future benefit that
employees have earned in the current and prior
periods, discounting that amount and deducting
the fair value of any plan assets.

The calculation of defined benefit obligations is
performed annually by a qualified actuary using
the projected unit credit method. When the
calculation results in a potential asset for the
Company, the recognised asset is limited to the
present value of economic benefits available in
the form of any future refunds from the plan or
reductions in future contributions to the plan. To
calculate the present value of economic benefits,
consideration is given to any applicable minimum
funding requirements.

Remeasurement of the net defined benefit liability,
which comprise actuarial gains and losses and
the return on plan assets (excluding interest) and
the effect of the asset ceiling (if any, excluding
interest), are recognised immediately in other
comprehensive income (OCI). Net interest expense

(income) on the net defined liability (assets) is
computed by applying the discount rate, used
to measure the net defined liability (asset). Net
interest expense and other expenses related to
defined benefit plans are recognised in Standalone
Statement of Profit and Loss.

When the benefits of a plan are changed or
when a plan is curtailed, the resulting change in
benefit that relates to past service or the gain or
loss on curtailment is recognised immediately
in the Standalone Statement of Profit and Loss.
The Company recognises gains and losses on the
settlement of a defined benefit plan when the
settlement occurs.

Other long-term employee benefits:

The Company''s net obligation in respect of long¬
term employee benefits is the amount of future
benefit that employees have earned in return
for their service in the current and prior periods.
That benefit is discounted to determine its
present value. Remeasurement are recognised
in Standalone Statement of Profit and Loss in the
period in which they arise.

Compensated Absences:

The Compensated Absences cover the
Company''s liability for earned and sick leaves.
The compensated absences are provided for on
the basis of an actuarial valuation at the end of
each financial year. Total liability related to this is
presented as current, since the Company does not
have an unconditional right to defer its settlement.
Actuarial gains/losses, if any, are recognised
immediately in the Consolidated Statement of
Profit and Loss.

L) Financial Instruments

I. Financial assets

i) Classification of financial assets

The Company classifies financial
assets as subsequently measured at
amortised cost, fair value through other
comprehensive income or fair value
through profit or loss on the basis of
its business model for managing the
financial assets and the contractual
cash flow characteristics of the financial
asset.

Debt instruments at amortised cost:
A ‘debt instrument'' is measured at the
amortised cost if both the following
conditions are met:

a) The asset is held within a business
model whose objective is to hold
assets for collecting contractual
cash flows, and

b) Contractual terms of the asset give
rise on specified dates to cash
flows that are solely payments of
principal and interest (SPPI) on
the principal amount outstanding.
After initial measurement, such
financial assets are subsequently
measured at amortised cost
using the effective interest rate
(EIR) method. Amortised cost is
calculated by taking into account
any discount or premium and fees
or costs that are an integral part
of the EIR. The EIR amortisation
is included in finance income
in the Standalone Statement of
Profit and Loss. The losses arising
from impairment are recognised
in the Standalone Statement of
Profit and Loss. This category
generally applies to trade and other
receivables.

Debt instruments at fair value through
other comprehensive income (FVOCI):
Assets that are held for collection of
contractual cash flows and for selling
the financial assets, where the assets''
cash flows represent solely payments
of principal and interest, are measured
at FVOCI. Movements in the carrying
amount are taken through OCI, except
for the recognition of impairment gains
or losses, interest revenue and foreign
exchange gains and losses which are
recognised in profit and loss. When
the financial asset is derecognised,
the cumulative gain or loss previously
recognised in OCI is reclassified from
equity to profit or loss and recognised
in other gains/ (losses). Interest income
from these financial assets is included in
other income using the EIR method. The

(ii) Initial recognition and measurement

All financial assets are recognised initially
at fair value and for those instruments
that are not subsequently measured at
FVTPL, plus/minus transaction costs that
are attributable to the acquisition of the
financial assets. Trade receivables are
carried at original transaction price as
the sales arrangements do not contain
any significant financing component.

II. Financial Liabilities and equity instruments

Debt and equity instruments issued by
the Company classified as either financial
liabilities or as equity in accordance with the
substance of the contractual arrangements
and the definitions of afinancial liability and
an equity instrument.

(i) Equity instruments: An equity instrument
is any contract that evidences a residual
interest in the assets of an entity after
deducting all of its liabilities. Equity
instruments issued by the Company are
recognised at the proceeds received,
net of direct issue costs.

(ii) Financial liabilities: - Classification:
Financial liabilities are classified as
either ‘at FVTPL'' or ‘at amortised cost''.
FVTPL liabilities consist of derivative
financial instruments, wherein the gains/
losses arising from remeasurement
of these instruments is recognized in
the Standalone Statement of Profit and
Loss. Other financial liabilities (including
borrowings and trade and other
payables) are subsequently measured
at amortised cost using the effective
interest method.

(iii) Initial recognition and measurement: All
financial liabilities are recognised initially
at fair value and for those instruments
that are not subsequently measured at
FVTPL, plus/minus transaction costs
that are attributable to issue of these
instruments.

ii) Non-Derivative Financial Liabilities

Financial liabilities are classified as either

"Financial Liabilities at fair value through
profit or loss” or "Other Financial Liabilities”.

(a) Financial liabilities are classified as "Financial
Liabilities at fair value through profit or loss”
if they are held for trading or if they are
designated as financial liabilities at fair value
through profit or loss. These are measured
initially at fair value with subsequent changes
recognized in Profit or Loss. Fair value is
determined as per IND AS 113 ‘Fair Value
Measurement''.

(b) Other financial liabilities, including loans
and borrowing, are recognised initially at
fair value, net of transaction costs incurred.
Borrowings are subsequently stated at
amortised cost. Any difference between
the proceeds (net of transaction costs) and
the redemption value is recognised in the
statement of profit and loss over the period
of the borrowings using the effective interest
rate method. Borrowings are classified as
current liabilities unless the Company has
an unconditional right to defer settlement of
the liability for at least 12 months after the
reporting date.

Derecognition of Financial Liabilities

A financial liability is derecognized when the
obligation under the liability is discharged or
cancelled or expires. When an existing financial
liability is replaced by another from the same
lender on substantially different terms, or the terms
of an existing liability are substantially modified,
such an exchange or modification is treated as
the derecognition of the original liability and the
recognition of a new liability. The difference in the
respective carrying amounts is recognised in the
statement of profit or loss.

iii) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset
and the net amount is reported in the Balance
Sheet if there is a currently enforceable legal right
to offset the recognised amounts and there is an
intention to settle on a net basis, to realize the
assets and settle the liabilities simultaneously.

iv) Impairment of financial assets

The Company recognises loss allowances for

expected credit losses (‘ECL’) on financial assets
measured at amortised cost.

At each reporting date, the Company assesses
whether financial assets carried at amortised cost
are credit impaired. A financial asset is ‘credit
impaired'' when one or more events that have a
detrimental impact on the estimated future cash
flows of the financial asset have occurred. The
Company always measures the loss allowance
for trade receivables at an amount equal to
lifetime ECL. The expected credit losses on trade
receivables are estimated using a provision
matrix by reference to past default experience
of the debtors and an analysis of the debtors''
current financial position, adjusted for factors
that are specific to the debtors, general economic
conditions of the industry in which the debtors
operate, and an assessment of both the current as
well as the forecast direction of conditions at the
reporting date.

In all cases, the maximum period considered when
estimating expected credit losses is the maximum
contractual period over which the Company is
exposed to credit risk.

Measurement of expected credit losses:

Expected credit losses are a probability weighted
estimate of credit losses. Credit losses are
measured as the present value of all cash shortfalls
(i.e., the difference between the cash flows due
to the Company in accordance with the contract
and the cash flows that the Company expects to
receive). Presentation of allowance for expected
credit losses in the standalone balance sheet:
Loss allowances for financial assets measured
at amortised cost are deducted from the gross
carrying amount of the assets.

Write-off

The gross carrying amount of a financial asset is
written off (either partially or in full) to the extent
that there is no realistic prospect of recovery. This is
generally the case when the Companydetermines
that the debtor does not have assets or sources of
income that could generate sufficient cash flows
to repay the amounts subject to the write off.

M. Use of Estimates and Judgments

The preparation of the standalone financial

statements in conformity with Ind AS requires the
management to make judgements, estimates and
assumption about the reported amounts of assets
and liabilities (including contingent liabilities)
on the date of standalone financial statement
and the reported income and expenses during
the year. The management believes that the
judgements and estimates used in preparation of
these standalone financial statements are prudent
and reasonable. The estimates and underlying
assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised
in the period in which the estimate is revised if the
revision affects only that period, or in the period
of the revision and future periods if the revision
affects both current and future periods

Critical judgements and estimates in applying
accounting policies:

The following are the critical judgements, and
estimations, that the management have made in
the process of applying the Company''s accounting
policies and that have the most significant effect
on the amounts recognised in these financial
statements.

a) Judgements:

(i) Right of Use assets:

The Company has entered into several
arrangements for lease of land and
property from Government entities and
other parties. The Company evaluates
if an arrangement qualifies to be a
lease as per the requirements of Ind AS
116. Identification of a lease requires
significant judgment. The Company
uses significant judgement in assessing
the lease term (including anticipated
renewals) and the applicable discount
rate. The Company determines the lease
term as the non-cancellable period
of a lease, together with both periods
covered by an option to extend the lease
if the Company is reasonably certain
to exercise that option; and periods
covered by an option to terminate the
lease if the Company is reasonably
certain not to exercise that option. In
assessing whether the Company is
reasonably certain to exercise an option

to extend a lease, or not to exercise an
option to terminate a lease, it considers
all relevant facts and circumstances
that create an economic incentive for
the Company to exercise the option
to extend the lease, or not to exercise
the option to terminate the lease. The
Company revises the lease term if there
is a change in the non-cancellable period
of a lease. The discount rate is generally
based on the incremental borrowing rate
specific to the lease being evaluated
or for a portfolio of leases with similar
characteristics.

(ii) Impairment of trade receivables:

The impairment provisions for trade
receivables are based on assumptions
about risk of default and expected loss
rates. The Company uses judgement in
making these assumptions and selecting
the inputs to the impairment calculation,
based on the Company''s past history,
existing market conditions as well as
forward looking estimates at the end of
each reporting period.

(iii) Impairment of Financial Assets:

The measurement of impairment losses
across all categories of financial assets
requires judgement, in particular, the
estimation of the amount and timing of
future cash flows and collateral values
when determining impairment losses
and the assessment of a significant
increase in credit risk. These estimates
are driven by a number of factors,
changes in which can result in different
levels of allowances.

b) Estimation

(i) Estimation of useful life:

The useful life used to amortise or
depreciate intangible assets or property,
plant and equipment respectively relate
to the expected future performance of
the assets acquired and management''s
judgement of the period over which
economic benefit will be derived from

asset. The charge in respect of periodic
depreciation is derived after determining
an estimate of an asset''s expected
useful life and the expected residual
value at the end of its life. Increasing an
asset''s expected life or its residual value
would result in a reduced depreciation
charge in the standalone statement of
profit and loss.

The useful lives of the Company''s assets
are determined by management at the
time the asset is acquired and reviewed
annually for appropriateness. The lives
are based on historical experience with
similar assets as well as anticipation of
future events which may impact their life
such as changes in technology

N) Operating cycle

All assets and liabilities have been classified as
current or non-current as per Company''s normal
operating cycle and other criteria set out in the
Schedule III to the Companies Act 20.

The operating cycle is the time between the
acquisition of assets for processing and their
realisation in cash or cash equivalents. The
Company''s normal operating cycle is twelve
months

O) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank
and on hand and short-term deposits with an
original maturity of three months or less which are
subject to insignificant risk of changes in value.

P) Cash-flow statement

Cash flows are reported using the indirect method,
whereby profit before tax is adjusted for the
effects of transactions of a non-cash nature and
any deferrals or accruals of past or future cash
receipts or payments. The cash flows from regular
revenue generating, investing and financing
activities of the Company are segregated.

Q) Earnings per Share (EPS):

Basic earnings per share are calculated by dividing
the net profit for the year attributable to equity

shareholders by the weighted-average number
of equity shares outstanding during the period.
The weighted-average number of equity shares
outstanding during the period and for all periods
presented is adjusted for events such as bonus
issue; bonus element in a rights issue to existing
shareholders; share split; and reverse share split
(consolidation of shares) that have changed the
number of equity shares outstanding, without
a corresponding change in resources. For the
purpose of calculating diluted earnings per share,
the net profit or loss for the year attributable to
equity shareholders and the weighted-average
number of shares outstanding during the period
are adjusted for the effects of all dilutive potential
equity shares.

(iii) For F.Y. 2016-17, a demand of ?399.59 Lakhs has been raised under section 143(3), and though the CIT(A) upheld the
addition vide order under section 250, the assessee has filed an appeal before the Hon''ble ITAT, where the hearing was
concluded and the order is awaited.

(iv) F.Y. 2017-18 a demand of ?326.29 Lakhs has been raised pursuant to an assessment order passed under section 143(3)
of the Income Tax Act, and the matter is currently pending before the CIT(A) under section 250.

(v) For F.Y. 2023-24, a demand of ?0.07 lakhs was raised pursuant to an intimation under section 143(1).

The Company has provided a corporate guarantee amounting to ? 3201.92 Lakhs in favour of its subsidiary, UMC Hospitals
Private Limited, towards lease obligations and term loan undertaken by the said subsidiary and ? 225.00 Lakhs in favour of
its subsidiary, Unihealth Pharmaceuticals Private Linited , towards Cash Credit Facility undertaken by the said subsidiary.

Leaving service:

Rates of leaving service for Employees is 23.53%

Nature of benefits:

The gratuity benefits payable to the employees are based on the employee''s service and last drawn salary at the time of
leaving. The employees do not contribute towards this plan and the full cost of providing these benefits are met by the
Company.

Inherent risks:

The plan is of a final salary defined benefit in nature which is sponsored by the Company and hence it underwrites all the
risks pertaining to the plan. In particular, there is a risk for the Company that any adverse salary growth or demographic
experience can result in an increase in cost of providing these benefits to employees in future. Since the benefits are
lump sum in nature the plan is not subject to any longevity risks.

Sensitivity analysis:

Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation
of the defined benefit obligation by one percentage, keeping all other actuarial assumptions constant. The following
table summarizes the impact in percentage and absolute amount terms on the reported defined benefit obligation at
the end of the reporting period arising on account of an increase or decrease in the reported assumption by 100 basis
points.

Note 36Other regulatory compliance

a) Relationship with Struck off Companies:

During the year, the Group has not executed any transaction with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956.

b) Detail of immovable properties where title deed is not held in the name of the Company:

The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

c) As on March 31, 2026 there is no unutilised amounts in respect of any issue of securities and long term borrowings,
except as mentioned in Note No.42, from banks and financial institutions . The funds have been utilised for the specific
purpose for which it were raised.

d) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

e) The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

f) The Company has not any such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey
or any other relevant provisions of the Income Tax Act, 1961).

g) The Company is in compliance with the number of layers prescribed under Clause (87) of Section 2 of the Companies Act
read with the Companies (Restriction on number of Layers) Rules, 2017.

h) 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.

i) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

B. Fair Value Measurements (Ind AS 113)

The fair values of the Financial assets and liabilities are included at the amount at which the instrument could be

exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments based

on the input that is significant to the fair value measurement as a whole:

Level 1: This hierarchy uses quoted (unadjusted) prices in active markets for identical assets or liabilities. The fair value
of all Equity Shares, which are traded in the stock exchanges, is valued using the closing price at the reporting
date.

Level 2: The fair value of financial instruments, that are not traded in an active market (for example over the counter
derivatives) is determined using valuation techniques which maximise the use of observable market data and
rely as little as possible on the Company specific estimates. The mutual fund units are valued using the closing
Net Asset Value. Investments in Debentures or Bonds are valued on the basis of dealer''s quotation based
on fixed income and money market association (FIMMDA). If all significant inputs required to fair value an
instrument are observable, the instrument is included in Level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in
Level 3.

support its operations in select instances. The Company''s principal financial assets include loans, trade and other receivables,
and cash and cash equivalents that derive directly from its operations and Investment.

The Company is exposed to market risk, credit risk, liquidity risk, equity risk, currency risk, interest rate risk and other price
risk. The Company''s senior management oversees the management of these risks. The Company''s senior management is
overseen by the Board of Directors with respect to risks and facilitates appropriate financial risk governance framework for
the Company. Financial risks are identified, measured and managed in accordance with the Company''s policies and risk
objectives. The Board of Directors reviews and agrees policies for managing key risks, which are summarised below.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity
price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings, deposits and
investments.

The Company manages market risk through finance department, which evaluate and exercises control over the entire process
of market risk management. The finance department recommends risk management objectives and policies, which are
approved by senior management and the Audit committee. The activities of this department include management of cash
resources, borrowing strategies, and ensuring compliance with market risk limit and policies.

The sensitivity analyses in the following sections relate to the position as at March 31, 2026.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. Interest rate change does not affects significantly short term borrowing and current investment
therefore the Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term
debt.

Note 39Financial risk management objectives and policies

The Company''s financial risk management is an integral part of how to plan and execute its business strategies. The Company''s
risk management policy is approved by the Board of Directors.

The Company''s principal financial liabilities comprise loans and borrowings, trade and other payables, and financial guarantee
contracts. The main purpose of these financial liabilities is to finance the Company''s operations and to provide guarantees to

If the interest rate decrease/(increase) by 50 basis point , the interest expense would decrease by ? Nil (increase by ? Nil) (as
at March 31, 2025: decrease by ? Nil (increase by ? Nil ))

Foreign Currency Risk

The Company is exposed to foreign currency risk through its receipt of services from overseas parties and income from
foreign clients across various foreign currencies.

The Company evaluates exchange rate exposure arising from foreign currency transactions and the Group follows established
risk management policies.

Foreign Currency Sensitivity

The following tables demonstrates the sensitivity to a 5% increase/decrease in foreign currencies exchange rates, with all
other variables held constant. The impact on the Company''s profit before tax is due to changes in the fair value of monetary
liabilities. The Company''s exposure to foreign currency changes for all other currencies is not applicable/material.

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities and from its financing activities, including
deposits with banks, financial institutions and other parties, foreign exchange transactions and other financial instruments.

The Company is not exposed to significant concentrations of credit risk as policies are in place to cover retail sales where
collections are primarily made in cash or or through credit card/UPI payments. The Company adopts prudent criteria in
its investment policy, the main objectives of which are to reduce the credit risk associated with investment products and
the counterparty risk associated with financial institutions.The Company considers the solvency, liquidity, asset quality and
management prudence of the counter parties, as well as the performance potential of the counter parties in stressed conditions.
In relation to credit risk arising from commercial transactions, impairment losses are recognized for trade receivables when
objective evidence exists that the Company will be unable to recover all the outstanding amounts in accordance with the
original contractual conditions of the receivables.

Liquidity Risk

The Company''s Finance department is responsible for liquidity, funding as well settlement management. In addition, the
related policies and processes are overseen by senior management. Management monitors the Company''s net liquidity
position through rolling forecast on the basis of expected cash flows.

The table below summarises the maturity profile of the company''s Financial Assets and Financial Liabilities based on
contractual undiscounted payments.

Excessive Risk Concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same
geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly
affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company''s
performance to developments affecting a particular industry or given set of counter parties.

In order to avoid excessive concentrations of risk, the Company''s policies and procedures include specific guidelines to focus
on the maintenance of a reasonably diversified portfolio. Identified concentrations of credit risks are controlled and managed
accordingly.

Capital Management

For the purpose of the Company''s capital management, capital includes issued equity capital, convertible preference shares,
share premium, non-convertible debentures and all other equity reserves attributable to the equity holders of the Company.
The primary objectives of the Company''s capital management is to maximise the shareholder value while providing stable
capital structure that facilitate considered risk taking and pursued of business growth.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and business
opportunities. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders,
raise/pay down debt or issue new shares. The Company monitors capital structure using a debt equity ratio, which is debt
divided by equity.

Note 40Code on Social Security, 2020 :

Pursuant to the notification by the Ministry of Labour and employment on November 21, 2025 of the Code on Wages, 2019,
the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working
Conditions Code, 2020 (collectively referred to as the "New Labour Codes”), the Company has recognised a provision towards
compensated absences payable to the employees amounting to '' 4.12 lakh during the year ended March 31, 2026, which is
included under "Employee benefits expenses”. As the underlying Rules to the Labour Codes are notified on May 8, 2026, the
Company will continue to monitor further developments and will evaluate and give effect to any consequential adjustments
arising subsequently in this respect.

Note 41First time adoption of Indian Accounting Standards

The Company has prepared separate financial statements which comply with Ind AS applicable for the period ending as on
March 31, 2025 for comparative purpose for the period ending March 31, 2026. In preparing these financial statements,
the Company''s opening balance sheet has been prepared as at April 1, 2024, i.e the Company''s date of transition to Ind AS.
This note explains the principal adjustments made by the Company in restating its IGAAP financial statements, including
the balance sheet as at April 1, 2024 and the financial statements for the year ended March 31, 2025 and March 31, 2026.
Exemption availed under IND AS 101 ‘First time adoption of Indian Accounting Standards''

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from
IGAAP to Ind AS.

i) Deemed cost

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and
equipment as recognised in the Financial Statements as at the date of transition to Ind AS, measured under IGAAP and use
that as its deemed cost as at the date of transition after making necessary adjustments for de-commissioning liabilities.
This exemption can also be used for intangible assets covered by Ind AS 38 ‘Intangible Assets'' and investment properties
covered by Ind AS 40 ‘Investment Property''. Accordingly, the Company has elected to measure all of its property, plant
and equipment, intangible assets and investment properties at their IGAAP carrying value in their Financial Statements.

ii) Designation of previously recognised financial instruments

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and
circumstances at the date of transition to Ind AS. The Company has elected to apply this exemption for its investment in
equity investments.

iii) Investments in subsidiary companies, associate company and joint venture company

Ind AS 101 permits a first-time adopter to measure it''s investment, at the date of transition, at cost determined in
accordance with Ind AS 27, or deemed cost, The deemed cost of such investment shall be it''s fair value at date of
transition to Ind AS of the Company, or IGAAP carrying amount at that date. The Company has elected to measure its
investment in subsidiary companies, associate company and joint venture company under IGAAP carrying amount as its
deemed cost on the transition date.

iv) Long-term foreign currency monetary items

Under IGAAP, para 46A of AS 11 ‘The Effects of Changes in Foreign Exchange Rates'', provided an alternative accounting
treatment to companies with respect to exchange differences arising on restatement of long-term foreign currency
monetary items. Exchange differences on account of depreciable assets can be added / deducted from the cost of the
depreciable asset, which will be depreciated over the balance life of the asset. Ind AS 101 includes an optional exemption
that allows a first-time adopter to continue the above accounting treatment in respect of the long-term foreign currency

monetary items recognised in the Financial Statements for the period ending immediately before the beginning of the
first Ind AS financial reporting period. The Company has opted to apply this exemption.”

v) Fair Value of Financials Assets and Liabilities

As per Ind AS exemption the Company has not fair valued the financial assets and liabilities retrospectively and has
measured the same prospectively

Deferred Tax: IGAAP requires deferred tax accounting using the income statement approach, which focuses on
differences between taxable profits and accounting profits for the period. Ind AS 12 requires entities to account for
deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying
amount of an asset or liability in the balance sheet and its tax base. The application of Ind AS 12 approach has resulted
in recognition of deferred tax on new temporary differences which was not required under IGAAP. In addition, the
various transitional adjustments lead to temporary differences. According to the accounting policies, the Company has
toaccountforsuchdifferences.DeferredTaxadjustmentsarerecognisedincorrelationtotheunderlyingtransaction either in retained
earnings or profit and loss respectively.

Note 42

The proceeds from the Equity shares IPO issued during FY 23-24 was amounting to ''5654.88 lakhs. The object and proposed
utilization of IPO Proceeds and amount utilized as on March 31, 2026 is as under:-

Major adjustment carried out while transition from IGAAP to IND AS

Amortisation of Security deposit: Under the previous GAAP lease deposits were carried at transaction value. Whereas under
Ind AS deposits lease deposits are discounted for the non-cancellable period in a lease exceeding one year at an incremental
borrowing rate.

Conversion of Joint Ventures into Subsidiary due to Control Assessment

Under the previous GAAP, an entity controls another entity when it has ownership, directly or indirectly, of more than one-half
of the voting power of the other entity or control over the composition of the board of directors so as to obtain economic
benefit from its activities.

Control over Victoria Hospitals Limited

Under previous GAAP, an entity controls another entity when it has ownership, directly or indirectly, of more than one-half of
the voting power of the other entity or control over the composition of board of directors so as to obtain economic benefit from
its activities. In the case of Victoria Hospitals Limited, since the Unihealth Hospitals Limited holds 50% equity shares of, it was
considered as a joint venture under the previous GAAP by UHL. Based on a control assessment carried out under Ind AS 110
Consolidated Financial Statements, Victoria Hospitals Limited is considered to be a subsidiary of the Company under Ind AS.

Employee Benefits: Under Ind AS, employee benefit expenses (net of deferred tax) pertaining to remeasurement of acturial
gains and losses has been transferred to other comprehensive income from profit and loss statement of 2024-25.

*The original object as disclosed in the offer document was further altered by passing a resolution to vary the utilisation
of proceeds raised by the Company through an initial public offering of equity shares (the ‘IPO'') made in pursuance of the
Prospectus dated September 14, 2023 (the ‘Prospectus'') and reallocate the unutilized proceeds for the objects as set out
in the Postal Ballot Notice, have been passed with requisite majority on Wednesday, June 26, 2024. Out of initial proposed
amount i.e. '' 1587.50 Lakhs, ''1350 Lakhs were reallocated for investing as equity and debt in UMC Hospitals Private Limited,
a subsidiary of the Company in India and in Unihealth Holdings Limited, the wholly owned subsidiary of the Company in
Mauritius, to support expansion and acquisition of projects across India and Africa, in furtherance of the current objects of
the Company.

Note 43

There is no significant reportable event occuring after the reporting period in accordance with Ind 10 "Events after the
Reporting Period”.

Note 44

The company''s two subsidiaries, Biohealth Limited and Unihealth Tanzania Limited, having negative net worths of ''32.08
Lakhs and '' 152.14 Lakhs respectively, as of March 31, 2026. The company''s management has finalized new agreements
related to the establishment of a Medical Centre, hospitals, and the provision of consultancy services to support the operational
expansion of both subsidiaries. The management anticipates that the subsidiaries will start earning profits from the financial
year 2026-27.

2.13 Provisions and Contingencies :

The Company creates a provision when there is present obligation
as a result of a past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of
the obligation. Provisions are reviewed at each balance sheet
date and adjusted to reflect the current best estimate. If it is no
longer probable that an outflow of resources would be required

to settle the obligation, the provision is reversed. Provision is not
discounted to its present value.

A disclosure for a contingent liability is made when there is a
possible obligation arising from the past events, the existence
of which will be confirmed only by the occurrence or non¬
occurrence of one or more future events not wholly within the
control of the Company or a present obligation that arises from
the past events where it is either not probable that an outflow of
resources will be required to settle or a reliable estimate of the
amount cannot be made.

Contingent assets are not recognized in the financial statements.
However, contingent assets are assessed continually and if it is
virtually certain that an inflow of economic benefits will arise,
the asset and related income are recognized in the period in
which the change occurs.

2.14 Cash and cash equivalents :

Cash & cash equivalents for the purpose of cash flow statement
comprises cash at bank and in hand, demand deposits deposits
with banks, other short term highly liquid investments with
original maturities of three months or less.

2.15 Earnings per share :

Basic earnings per share are computed by dividing the net profit
after tax by the weighted average number of equity shares
outstanding during the period. The diluted EPS is calculated on
the same basis as basic EPS, after adjusting for the effects of
potential dilutive equity shares unless the impact is anti dilutive.

2.16 Events Occurring after Balance Sheet Date :

Events that occur between balance sheet date and date on
which these are approved, might suggest the requirement for
an adjustment(s) to the assets and the liabilities as at balance
sheet date or might need disclosure.

(a) Adjusting Events: Adjustments are required to be made
in the Financial Statements for events which occur
after balance sheet date which offer added information
substantially affecting the determination of the amounts
which relates to the conditions that existed at balance
sheet date.

(b) Non-Adjusting Events: Adjustments aren’t required to
the Financial Statements for events which occur after
balance sheet date, in case such events don’t relate
to the conditions which existed at balance sheet date.
There’re events which, though occurring after balance
sheet date, are sometimes presented in financial
statements because of their special nature or due to
statutory requirements.

2.17 Employee Benefit :

Short term Employee Benefits

Employee benefit payable wholly within twelve months of
receiving employee services are classified as short-term
employee benefits. These benefits include salaries, wages and
bonus. The undiscounted amount of short-term employee
benefits to be paid in exchange for employee services is
recognised as an expense as the related service is rendered by
employees.

Provident Fund

As per the Employees Provident Funds and Miscellaneous
Provision Act, 1952 employees of the Company are entitled to
receive benefits under the provident fund which is a defined
contribution plan. These contributions are made to the fund
administered and managed by Government of India. The
Company’s contribution to the schemes is recognized as expense
in the profit and loss account during the period in which the
employee renders the related services. The Company has no
other obligation to the plans beyond its monthly compensations.

Defined benefits plan

The company’s gratuity benefit scheme is a non-funded defined
benefit plan. The Company’s net obligation in respect of a defined
benefit plan is calculated by estimating the amount of future

benefit that employees have earned in return for their service
in the current and prior periods, that benefit is discounted to
determine its present value.

The calculation of company’s obligation is performed annually
by qualified actuary using the projected unit credit method.

The company recognises all actuarial gains and losses in the
Statement of Profit and Loss.

The company recognises all the actuarial gains and losses
immediately in the Statement of Profit and Loss. All expenses
related to defined benefit plans are recognized in employee
benefits expense in the Statement of Profit and Loss.

2.19 Segment Reporting

As per AS-17 Segment information has been provided under the
notes to Consolidated financial statements.

2.20 Cash Flow Statement

Cash flows are reported using the indirect method where by the
profit before tax is adjusted for the effect of the transactions of
a non-cash nature, any deferrals or accruals of past and future
operating cash receipts or payments and items of income or
expenses associated with investing or financing cash flows. The
cash flows from operating, investing and financing activities of
the company are segregated.

@ The Company has provided a corporate guarantee amounting to ''585 Lakhs in favour of its subsidiary, UMC Hospitals Private Limited,
towards lease obligations undertaken by the said subsidiary.

* With reference to the outstanding tax demands for F.Y. 2017-18 a demand of ''326.29 Lakhs has been raised pursuant to an assessment
order passed under section 143(3) of the Income Tax Act, and the matter is currently pending before the CIT(A) under section 250. For
F.Y. 2016-17, a demand of ''399.59 Lakhs has been raised under section 143(3), and though the CIT(A) upheld the addition vide order
under section 250, the assessee has filed an appeal before the Hon’ble ITAT, where the hearing was concluded and the order is awaited. In
respect of F.Y. 2015-16, the demand of ''0.09 lakhs pertains to an assessment under section 143(3), for which a rectification application
under section 154 was filed but remains unprocessed. For F.Y. 2012-13, the demand of ''0.22 Lakhs arises from an intimation under section
143(1), where TDS credit was not considered. Lastly, for F.Y. 2023-24, a demand of ''0.07 lakhs was raised pursuant to an intimation under
section 143(1).

32 Material events occuring after the date of Standalone Financial Statements.

At the Board Meeting held on 31st March 2025, the Board of Directors approved the issuance of 7,00,000 (Seven Lakhs) Compulsorily
Convertible Share Warrants at an issue price of ''151 (Rupees One Hundred Fifty-One only) per warrant. Subsequently, the allotment of
the said share warrants was duly made on 28th April 2025.

33 There are no transactions which were not recorded in books of accounts and have been surrendered or disclosed as income during the
year in the tax assessments under Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act,
1961).

34 The company has not revalued Property, Plant and Equipment.

35 Loans or Advances in the nature of loans are granted to Related Parties (Subsidiaries- Biohealth limited, Unihealth Tanzania Limited,
Unihealth Pharmaceutical Private Limited, UMC Hospitals Private Limited & UMC Global Health Limited Joint Venture- Victoria Hospital
Limited, Associate- Unihealth Uganda Limited) which are repayable in a single or in multiple tranches/ installments at any mutually agreed
time within the tenure of the Loan as per the agreement entered with the Parties.

36 No proceedings have been initiated or pending against Company for holding any Benami Property under Prohibitions of Benami Transac¬
tions Act,1988 (Earlier titled as Benami Transactions (Prohibitions) Act,1988.

37 The Company has borrowings from Banks.

38 The Company has not been declared as willful defaulter.

39 During the year, the Company has not executed any transaction with Companies struck off under Section 248 of the Companies Act, 2013
or Section 560 of Companies Act, 1956.

40 No charges are pending for registration or satisfaction with the Registrar of Companies (ROC).

41 The Company is in compliance with the no. of layers as prescribed under clause (87) of section 2 of The Companies Act, 2013 read with the
Companies (Restriction on Number of Layers) Rules, 2017.

42 (A) The Company has not advanced or loaned or invested funds, with any understanding, to any other person(s) or entity(ies), including

foreign entities (Intermediaries) 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.

(B) The Company has not received any fund from any person(s)or entity(ies), including foreign entities (Funding Party) with the understanding
(whether recorded in writing or otherwise) that the Company shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or

(b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

43 Corporate Social Responsibility -Section 135 of the Companies Act is not applicable to the Company.

44 The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

*Company is having Nil (P.Y.- Nil) Investments.

Note 48 Previous year’s figures have been regrouped, rearranged or recasted to make them comparable wherever necessary.

G P Kapadia & Co, For and on behalf of the Board of Directors

Chartered Accountants Unihealth Hospitals Limited

Firm registration No: 104768W (Formerly known as Unihealth Consultancy Limited)

Atul B Desai Akshay M Parmar Anurag R Shah

Partner Managing Director Director

Membership No. 030850 DIN:01533004 DIN:02544806

Mumbai

Date- May 23, 2025

Binita M Patel Parag Shah

Company Secretary Whole Time Director & Chief Financial Officer

Membership No.:A46394 DIN: 07773426

32 Material events occuring after the date of Standalone Financial Statements.

In line with Accounting Standard 4, a wholly owned subsidiary “Unihealth Holdings Limited” of the company was incorporated in Mauritius on 07/05/2024

33 There are no transactions which were not recorded in books of accounts and have been surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

34 The company has not revalued Property, Plant and Equipment.

35 Loans or Advances in the nature of loans are granted to Related Parties (Subsidiaries- Biohealth limited, Unihealth Tanzania Limited & Unihealth Pharmaceutical Private Limited, Joint Venture- Victoria Hospital Limited & UMC Global Health Limited, Associate- Unihealth Uganda Limited) which are repayable in a single or in multiple tranches/ installments at any mutually agreed time within the tenure of the Loan as per the agreement entered with the Parties.

36 No proceedings have been initiated or pending against Company for holding any Benami Property under Prohibitions of Benami Transactions Act,1988 (Earlier titled as Benami Transactions (Prohibitions) Act,1988.

37 The Company has no borrowings from Banks or Financial Institutions

38 The Company has not been declared as willful defaulter.

39 During the year, the Company has not executed any transaction with Companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956.

40 No charges are pending for registration or satisfaction with the Registrar of Companies (ROC).

41 The Company is in compliance with the no. of layers as prescribed under clause (87) of section 2 of The Companies Act, 2013 read with the Companies (Restriction on Number of Layers) Rules, 2017.

42 (a) The Company has not advanced or loaned or invested funds, with any understanding, to any other person(s) or entity(ies),

including foreign entities (Intermediaries) 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.

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

43 Corporate Social Responsibility -Section 135 of the Companies Act is not applicable to the Company.

Note 46

Previous year’s figures have been regrouped, rearranged or recasted to make them comparable wherever necessary.