annual-report-2023241-1728359783

CORPORATE INFORMATION
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
Mr. Ramanuj Mukherjee, Managing Director

Mr. Abhyudaya Agarwal, Whole-time director
Mr. Mohd Sirajuddin, Independent Director
Ms. Shruti Khanijow, Independent Director
Ms. Debolina Ghosh, Independent Director
Mr. Siddhant Singh Baid, Chief Financial Officer
Ms. Komal Shah, Company Secretary
REGISTERED OFFICE
Space Creattors Heights, 3rd floor, Landmark Cyber Park,

Golf Course Extension, Sector 67,
Gurgaon, Haryana 122102,
DLF QE, Gurgaon, Dlf Qe, Haryana, India, 122002
REGISTRAR & TRANSFER AGENTS
Maashitla Securities Private Limited
451, Krishna Apra Business Square, Netaji Subhash Place,

Pitampura, Delhi - 110034, India
LISTED AT
National Stock Exchange of India Ltd. (NSE Emerge)
STATUTORY AUDITORS
M/s KRA & Co.

Chartered Accountants
Firm Registration No. 020266N
SECRETARIAL AUDITORS
Rawal & Co.

Company Secretaries
Firm Registration No. S2020UP717200
Annual Report 2023-24

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VISION:
“We envision a future where the most promising career opportunities are
accessible to a global talent pool, unconstrained by traditional offices or
borders. We firmly believe in the dominance of international service
exports in the years to come.
Our commitment lies in enabling individuals from small towns and

emerging economies to attain world-class careers while maintaining their
lifestyles and freedoms,without the need to migrate to urban centres. We
strive to offer cost-effective and efficient pathways for skill acquisition
accompanied by appropriate credentials, challenging the conventional
view that costly and time-consuming university programs are the sole
path to success.”
MISSION:
“Our mission is to enable India to rise to be the leading exporter of
services in domains like law, finance, HR, consulting and more, and we
want to enable this through our online programs, tech tools and
services.”

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Managing Director’s letter to the Shareholders
Dear Valued Shareholders,
I am writing to you today with immense pride and gratitude as we embark on this exciting
new chapter in our company’s journey. With our recent listing on the Emerge Platform of the
National Stock Exchange, we have reached a significant milestone—one that reflects the
hard work, dedication, and unwavering commitment of every member of our 700+ strong
team.
Some of the things that we were able to figure out quite well during the year were:
1. Scaling SkillArbitrage: We were able to scale up our SkillArbitrage brand. We

launched many new categories successfully under this brand and reached product
market fit. We significantly increased our total addressable market because of this.
Also more than half of our revenue is now coming from SkillArbitrage which shows
that our team has successfully transitioned from being a legal market focused niche
brand to a horizontal player in the upskilling market. We have also proved that we
can launch new brands and categories rapidly. We intend to capitalise on this in the
months to come.
2. Tight management of costs: We managed our budget and costs very tightly, and
didn’t allow costs to balloon despite rapid growth thanks to improved capacity
utilisation. Our CAC has held across different markets, while delivery costs have
remained stable despite focusing on creating delight and delivering value to learners.
We have been able to use generative AI in our delivery which helped to reduce cost.
We have also managed to launch several growth and engagement products that

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generated leads without spending advertising money. We expect further improvement
in our costs as we go global and scale further.
3. Test-prep results: Our test prep team has produced phenomenal results which we
expect to influence our financial performance also going forward as we become a
major player in the legal test prep domain.
4. Selling courses in other countries: We have managed to start selling our courses
in the US, in the UK and Canada. We have a nascent sales team focusing on these
markets. Our fundamentals have been wonderful in these markets so far and we are
getting very little resistance or competition at this point in the categories we have
entered. We are also in the process of launching a new brand Skillsafter.ai for these
markets, which would cater to professionals whose careers would be disrupted by
emerging automation & AI tools.
5. LawSikho Opportunities: We launched and scaled LawSikho Opportunities which
rapidly became one of the top job platforms in the legal space, with over 1 lakh
unique users per month. We are currently investing in creating more niche job
platforms using the same playbook. We are currently not monetising this initiative but
it can be a potential source of lead generation in future for our upskilling programs.
6. Entry into healthcare education: currently we have over 3000 nurses preparing for
their career abroad with us in our pilot communities. We are preparing them for
NCLEX and IELTS exams. We are yet to launch paid courses in this category, but our
traction so far is encouraging.
7. Successfully entered the science and engineering professional market: We
acquired and successfully integrated the data science and data analytics course
business of Dataisgood. The logic of this acquisition was to make a headway into the
science and engineering grads market which we could not penetrate earlier.
Currently we have a thriving and growing data science and data analytics course
business within our SkillArbitrage brand. We have also launched a successful patent
analyst category for the same target market on the back of the learnings we received
from our experience of integrating dataisgood into SkillArbitrage.
Our mission has always been clear: to empower individuals through accessible, high-quality
upskilling courses, help them to build a track record and then connect them with deserving
career opportunities. As the demand for upskilling continues to surge globally, the Company
is uniquely positioned to lead this transformation. Even as more people in low skill jobs may
become redundant in their current jobs due to advanced automation and generative AI, we
are in a position to help them to upskill and transition into lucrative careers. We believe that
our innovative learning solutions, robust technology infrastructure, and commitment to
excellence will allow us to capture new opportunities and expand our reach to even more
learners worldwide.
Looking ahead, we have a clear strategy in place to deliver this mission, fuel our growth and
enhance shareholder value. Our focus will be on:
1. Innovation in Learning: We will continue to invest in cutting-edge technologies,

including AI-driven legal assistant tools, microlearning app, legal research databases,
an app for driving job opportunities and so on.
2. Global Expansion: We are committed to expanding our presence in key
international markets, building strategic partnerships, and tailoring our offerings to

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meet the diverse needs of learners across different regions. We shall be focused on
launching courses in the UK, US and Canada markets.
3. Scaling sales: We have launched many successful and proven products. Our focus
will be on scaling up sales and marketing. We intend to achieve these through
automated funnels, larger internal sales team and community driven marketing.
4. Scaling up services exports: One of our key focus areas will be to scale up
services export part of our business, landing contracts that provide us with recurring
revenue and more practical exposure and increased placement opportunities for our
learners. We would also strive to build and scale up marketplaces that focus on niche
services export..
The journey ahead is filled with opportunities, and I am confident that, together, we can
achieve even greater heights. Your support and trust are invaluable to us, and I want to
assure you that we remain fully committed to driving the Company forward with the same
passion, integrity, and vision that have brought us to this point.
Thank you for being a part of our journey. I look forward to sharing more updates with you in
the coming months as we continue to shape the future of upskilling, career growth and talent
arbitrage.
Warm regards,
Ramanuj Mukherjee
Managing Director
Addictive Learning Technology Limited
Date: 6th September 2024

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MANAGEMENT DISCUSSION AND ANALYSIS
COMPANY OVERVIEW
Your company is a professional upskilling and career services edtech platform which caters
primarily to senior & mid-career professionals, and in some cases to young professionals as
well. Your company offers a comprehensive range of professional upskilling courses and
training programs which includes Law, Finance, Accounting, Corporate Governance,
Compliance, Human Resources, Business Consulting, Artificial Intelligence, Content Writing,
Video Editing, and Data Science through three distinct brands LawSikho, Skill Arbitrage and
Dataisgood. These educational offerings are designed to help busy professionals to learn
high demand skills, develop a strong demonstrable track record & access international as
well as domestic freelance work opportunities and remote jobs. We also cater to college
students looking for advanced skills and recent graduates who are struggling to find jobs.
One of our major focus areas is to offer upskilling courses which enable our learners to find
career opportunities in the international market remotely. Some of the popular courses cover
subjects like US Intellectual Property Law, US Tax Law, US Accounting, Bookkeeping and
Corporate Compliances, International Contract Drafting, International Business Law,
International Labour Laws, US Technology Law, US Corporate Law, US Real Estate Law etc.
Further your Company also provides international bar exam courses for Canada, United
Kingdom and California, United States.
The Company also has a high performing test prep vertical which prepares students for
highly competitive exams such as judiciary exams, UGC-NET, SEBI Grade A legal officer,
Bank and Insurance Officers exams etc.
OUTLOOK ON THE INDIAN ECONOMY
India's economic growth trajectory has garnered global attention as the renowned rating
agency S&P Global has revised its outlook on the country from stable to positive. This
development reflects the agency's assessment that policy stability, deepening economic
reforms, and robust infrastructure investment will sustain India's long-term growth
prospects. Additionally, the International Monetary Fund (IMF) in its latest ‘World
Economic Outlook’ report upgraded India's gross domestic product (GDP) in FY 2024-25
by 20 basis points to 7 percent. The IMF has revised its forecast upward from the previous
estimate of 6.8 percent in April owing to a notable rise in consumption prospects, especially
in rural areas. Whereas the United Nations Projection (World Economic Situation and
Prospects, mid-2024) has projected the Indian economy to grow by 6.9% in 2024 and 6.6%
in 2025. This 6.9% growth forecast for 2024 is an upward revision from the earlier 6.2%
projection made in January 2024.

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GDP Growth (Percent Change, year-on-year)
The Indian economy's growth is driven by several key factors which include strong domestic
demand, fueled by rising incomes and an expanding middle class, which has led to robust
private consumption. Investment activity is also on the rise, with significant private
investments and government expenditure on infrastructure. Moderating inflation has created
a stable environment for spending and investment.
Additionally, manufacturing is seeing a resurgence due to initiatives like "Make in India,"

while the resilient services sector continues to thrive. India's ability to withstand global
headwinds and diversify supply chains further bolsters its economic growth trajectory.
However, there is a need for targeted economic policies to shape India's trajectory toward
achieving its aspirations of being the third-largest economy by 2027 and securing
sustainable economic growth.
From the perspective of our business, 3 forces deserve mention:
1. The Indian economy has been undergoing rapid formalisation since the pandemic
and the introduction of UPI. This is leading to a huge domestic demand for services
talent across different professional categories as formalised businesses focus on
scaling up, hiring employees, marketing, raising investment, bank loans, protecting
their brand, enforcing contracts, and paying taxes. Our brands provide upskilling
programs in several of these segments. Informal businesses which were primarily
cash-oriented did not focus on this. Record direct and indirect tax generation by the
government, and multiple reports of State Bank of India have indicated extensive
formalisation of the Indian economy.

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2. Apart from economic growth, the average per capita income of Indians is expected to
reach USD 6000 by 2030, from approx. USD 2500 currently. Indians already spend a
huge amount on education and upskilling. This increase in per capita income is likely
to increase the paying capacity of Indians for upskilling, giving us more headroom to
increase average revenue per user in the future for Indian learners.
3. As per Services Exports Promotion Council, services exports from India can hit 1
trillion dollars by 2030. It is already somewhere between 250-300 bn dollars currently,
but is led by IT-related services provided through IT services offshoring companies.
Post the pandemic and remote work revolution, it has become possible to export
services from India directly to SMEs in the US and advanced economies without the
requirement of an intermediary. LawSikho and Skill Arbitrage have been upskilling
talent in this area and support our learners to find opportunities in this space. There
is a massive growth trajectory ahead given the possibility of increase in services
exports.
OUTLOOK ON UPSKILLING INDUSTRY
The Government’s focus on skilling and employment for 2024-25 is visible through the
allocation of Rs.1.48 lakh crores for employment and skilling in the budget for the year
2024-25. It also shows the focus on skilling with an intention to generate employment
opportunities, something which your Company has been focussing on, since its early days.1
The Government revamped the Model Skill Loan Scheme, increasing the loan limit from
Rs.1.5 lakhs to Rs.7.5 lakhs. Since the courses offered by us are on-boarded on Skill India
Digital Hub Platform, learners enrolling in our courses will get the benefit of the revamped
scheme.2
There is focus on upskilling as compared to education. A report from Great Learning reflects
that 85% Indians believe that upskilling is necessary to future proof their career. IT,
education and training are the sectors with maximum demand for upskilling.3
Through SkillArbitrage, the Company has already introduced courses in the domain of data
science and AI and is looking to expand into other domains with higher upskilling demands.
Further, in skilling, certain trends like personalised learning and microlearning are picking
up.4 The Company had identified these trends early on and already has systems in place
providing personalised coaching and training to learners. The Company is also in progress
with creating a microlearning app for the learners.
https://razorpay.com/learn/budget-2024-education-employment-skilling-highlights/#:~:text=To%20sum
%20it%20up%2C%20the,over%20the%20next%20five%20years.
2
https://www.drishtiias.com/daily-updates/daily-news-analysis/revamped-model-skill-loan-scheme
3
https://www.mygreatlearning.com/blog/upskilling-trends-in-india/
4
https://www.schneideit.com/blogs/future-of-edtech-sector-in-india/

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The Company also picked up on the forthcoming trends of training in the domains of Artificial
Intelligence (AI) and has accordingly developed courses which cater to various learners
desiring to use AI for business growth and courses on prompt engineering and helping
women to secure work opportunities.
STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND RISKS IN ED-TECH AND

SKILLING INDUSTRY
Strengths
Remote Operations:
The Company operates as a 100% remote company which gives the Company access to
talent from Tier-2 and Tier-3 cities and also from other countries, at a lower cost. The
Company particularly has an advantage in hiring work-from-home mothers who are talented
and want to contribute to the organisation but cannot commute to office. Having figured out
remote working gives a distinct advantage to the Company.
Brand name:
The Company’s brand “LawSikho” is well known and in addition, the listing of shares of the
Company has created further awareness of the brand of the Company, thus gaining trust
from potential customers and employees. SkillArbitrage has also become a renowned brand
in a short time.
Strong placement numbers:
The Company has significantly developed its ability to place its learners in jobs and
internships and to generate freelancing opportunities for the learners. This has helped the
Company create a good number of success stories and gain an edge from other
competitors, who are not able to generate work opportunities at the same scale or velocity
for their learners.
Weaknesses
Smaller sales team:
Our sales team has been smaller compared to other edtech companies and some of our
potential competitors. It will be important for us to significantly scale up our sales team if we
are to effectively capitalise on the opportunities before us.
Rapidly changing work force requirements:
Since we connect our courses and value proposition for users with employment and market
demand, changing dynamics at workplaces and economy can significantly impact us. We
have to stay in touch with evolving needs of the industries we cater to, and failing to notice or
respond to new trends can lead to significant loss in market share very rapidly.

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Technology and connectivity:
Remote operations require availability of continuous connectivity which may not be available
at all times and this may impact the functioning of the Company. We are vulnerable to events
that can disrupt internet and mobile connectivity. Further, this requires the Company to
continuously have in place and implement systems which can help to monitor the
performance of the employees. Monitoring and metrics driven approach can cause
dissatisfaction amongst the workforce.
Dependence on consumer loans for revenue generation:
Close to 50% of our learners opt for EMI schemes, leading to dependance on NBFC
partners who provide loans for online courses. Changes in RBI policies or banking
regulations can affect our business if such loans become harder to obtain. Also, in case in
the future there happens to be a large number of defaults by our learners, our future learners
could find it harder to get these loans.
Opportunities
We can aggregate service and demand side for services export marketplace:
Services export from India on the back of labour cost arbitrage has been a very successful
business model. However, white collar SME jobs in developed countries were mostly
untouched by that trend. SMEs are now open to remote workers due to huge cost savings
and an increasingly competitive business environment. We have an opportunity to rapidly
grow the services export part of our business as well as aggregate demand and supply in
niche online marketplaces. As we already train a large number of service providers across
various categories, we have a great opportunity to emerge as a major global player in a
nascent market due to our significant competitive advantages.
Dedicated sales teams focusing on US and UK services export market:
We can significantly grow our revenue with dedicated teams for US and UK markets where
we have achieved some penetration already. We would grow our inside sales teams as well
as B2B business development teams focused on generating from SMEs in these countries.
Opportunities for geographical expansion:
The Company is seeking to expand its reach to learners in other countries such as the
United Kingdom, North America and Canada. There are also significant opportunities in the
EU, Mexico, Kenya, Nigeria, The Philippines and other countries. For this purpose the
company is exploring establishment of franchisee relationships or entities in these regions
and is also looking for acquisition targets to access these markets.

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Threats
Competition
The Company operates in a competitive environment where there are low entry barriers. Our
continued success depends on the success of our learners. In some verticals we compete
against existing players while in others there is a blue ocean. However, it is possible for
competition to enter the market as other players can offer similar courses and learning
mechanisms. What has continued to set us apart is our focus on the success of our learners
and offering deeper levels of placement support to our learners. If we fail to scale the
number of opportunities we provide to our learners while we increase enrollment in our
courses, that would lead to a lot of dissatisfaction from learners which can hurt our brand.
Further, the Company continues to face competition from traditional modes of learning such
as offline learning centres and colleges who intend to get into the upskilling space.
Ability to attract and retain talented personnel
The business model of the Company is dependent on its ability to attract and retain talented
people. Although the remote operations and a brand name as a listed company gives the
Company an edge, any factors leading to unavailability of appropriate personnel or inability
to retain personnel can impact the business of the Company.
Computer-driven and intellectual property based systems
The Company relies heavily on intellectual property and technology based systems, such as
learning management systems, AI driven evaluation systems etc., for majority of the
functions and operations. Numerous software tools are used by various functions in the
Company for different purposes. Such systems can be subject to technological errors, data
breaches, infringement by third parties or claims that the Company is infringing their
intellectual property. Any of these instances can impact the operations of the Company.
SEGMENT WISE OR PRODUCT-WISE PERFORMANCE
Under the brand “LawSikho,” our company offers a diverse range of courses aimed at
providing comprehensive legal upskilling and practical skills as well as for those aspiring to
build careers in the international legal arena. These courses encompass various aspects of
law and are designed to cater to different career aspirations and legal specialisations. During
the financial year 2023-24 the revenue generated from these courses was Rs.37,69,90,544.
Under our brand “Skill Arbitrage”, we offer a diverse range of professional upskilling courses
in the field of finance, human resources, artificial intelligence, content writing, video editing
etc. designed to cater individuals from various backgrounds to excel in their careers and
seize international opportunities. During the financial year 2023-24 the revenue generated
from these courses was Rs.21,09,46,590.

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Under our brand “Dataisgood”, we provide data science and analytics courses to learners.
During the financial year 2023-24, after the acquisition of Dataisgood Edutech Private
Limited, the revenue generated from these courses was Rs.4,58,22,079.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
Our company has put in place standard operating procedures that ensure effective and
transparent internal controls for efficient delivery of services. The Audit Committee of the
Board oversees the internal audit function. The internal audit function provides assurance to
the Board that a system of internal control is designed and deployed to manage key
business risks and is operating effectively. We have been refining our management
methodologies by way of periodical reviews so as to realign our tactics to meet the changes
on the ground. The Company has adopted policies and procedures for ensuring orderly and
efficient conduct of the 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
disclosures. The internal control system is commensurate with the nature of business, size
and complexity of operations and has been designed to provide reasonable assurance on
the achievement of objectives, effectiveness and efficiency of operations, reliability of
financial reporting and compliance with applicable laws and regulations. Financial discipline
is emphasised at all levels of the business and adherence to quality systems and focus on
customer satisfaction is critical for the Company to retain and attract customers and
business and these are followed rigorously.
SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS
RATIO FY 2024 FY 2023 CHANGE % REASON FOR

CHANGE
Current Ratio 5.15 1.26 309% The Company was listed

on the Emerge Platform
of the National Stock
Exchange in Q4 of
2023-24. Accordingly the
deposit of the IPO
proceeds in bank
accounts caused an
increase in current ratio.
Trade receivable 135.48 1384.24 -90% The Company’s trade

turnover ratio receivables are majorly
the amounts due from
payment aggregators
which take 48-72 hours
to get credited in our
account. The amount
outstanding with such
payment aggregators
increased for FY 2024 by

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Rs. 45 Lakhs which led
to decrease in Trade
receivable turnover ratio.
Debt-equity ratio 0.00 0.08 -100% The short term borrowing

of Rs 15.73 lakhs was
paid off during the
financial year FY 2024.
Thus, the company had
no outstanding debt at
year end of FY 2024.
Net Profit Margin 10% 7% 43% Company's year on year

(%) revenue has increased
by 90%. The increase in
cost was not in the same
proportion, which led to
an increase in the net
profit margin.
Operating Profit 19.6% 9.97% 97% Company's year on year

Margin (%) revenue has increased
by 90%. The increase in
cost was not in same
proportion, which led to
an increase in the
operating profit margin
Interest - - - Since there are no

coverage ratio significant borrowings
from banks or financial
institutions, this ratio is
not required to be
calculated.
Inventory - - - The Company is an

turnover ratio e-learning and skilling
platform and therefore
this ratio does not apply
to the Company’s
business.
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL

RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED
As a professional upskilling and education technology company, we believe that a motivated

and empowered employee base is the key to our operations and business strategy. We have
developed a large pool of skilled and experienced personnel including sales, marketing, HR,
teachers, counsellors, etc. Up to 31st August 2024 we had 82 full-time employees. Given
that many team members are lawyers, CA, CS and other professionals with special rules
with respect to employment, we engage most team members on a project-basis. As on 31st

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August 2024, we have engaged 663 (Six Hundred and Sixty-three) consultants who are
engaged on a consultancy or project basis, in the day-to-day business operations,
administrative, legal and accounting functions in accordance with their respective designated
assignments.
Our employees are not unionised, and our operations have not been interrupted by any work
stoppage, strike, demonstration or other labour or any disturbance in the past.
DEPARTMENT WISE EMPLOYEES BREAK-UP:
Sr. No. Particulars Number of employees
1 Management 3
2 Finance and Accounts 4
3 Human Resources 4
4 Marketing and Sales 36
5 Content team (including Test prep, Blog) 13
6 Operations & Support 13
7 Secretarial 1
8 Placement 4
9 Tech 4
10 Legal 0
11 Admin 0
Total 82
DEPARTMENT WISE PROFESSIONAL BREAK-UP:
Sr. No. Particulars Number of consultants
1 Finance and Accounts 12
2 Human Resources 13
3 Marketing and Sales 248
4 Content team (including Test prep, Blog) 199
5 Operations & Business Excellence, Support, cric 56
6 Secretarial 1
7 Placement 80

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8 Tech 34
9 Legal 1
10 Executive office (including Admin) 19
Total 663
FORTHCOMING TECH INITIATIVES
We have been consistently aiming to improve learner experience through various technology
initiatives. Some of these initiatives which are currently in place and also being developed by
the technology department of the Company are as follows:
LawSikho opportunities
- What this platform will do: This is a user-friendly platform which provides job
opportunities to lawyers and a seamless application process. It will also help
employers to find a reliable pool of qualified legal professionals and advanced
filtering and matching mechanisms to curate job listings.
- How will this benefit the users: The users will be able to search for jobs and apply
with ease. We can potentially explore bundling upskilling services to users who can
upskill themselves and apply for opportunities.
- Revenue generation for the Company: The Company will charge a platform
service fee for facilitating interactions between potential employers and applicants.
Services Marketplace
- What this platform will do: This platform will provide an opportunity to our learners
to showcase their services and apply for assignments posted by SMEs especially in
the US and advanced economies in a similar manner as Upwork or other freelancing
platforms. The platform is intended to be designed to address common concerns of
employers with respect to client confidentiality, etc. which currently are not met
adequately by existing platforms. It will also be customised for the categories of work
specifically catered to by our learners. The platform will enable learners to register
and create detailed profiles, showcase their portfolio and work done, apply for jobs
and assignments and receive payments in a secured manner with escrow
mechanisms. It will also enable potential employers and clients to search for
appropriate service providers.
- How will this benefit the users: Currently, our learners rely on finding work through
opportunities sourced by our team or through existing freelance platforms. Building a
platform that protects the concerns around data security, freelancer accountability
and workflow management of potential clients in the US and advanced economies
while giving work to talent across borders will reduce friction, thus enabling more
opportunities to be accessible for our learners. The services marketplace will
complement our inside sales development initiative to generate opportunities for

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Indian talent, including our learners, from advanced economies. This will also deepen
the competitive advantage for our upskilling business. It is also possible to monetise
transactions on this marketplace as US SMEs are already accustomed to paying
freelance platforms like Upwork, Fiverr, etc.
- Revenue generation for the Company: The Company will charge a platform
service fee for facilitating the business and service providers.
Microlearning App
- What this application will do and how it will benefit users: This application will be
a valuable educational application (“app”) which can increase the Company's visibility
and reputation in the field of legal education. The quality of legal education greatly
varies across colleges all over the country. Through this app, law students will be
able to access the entire college curriculum on their mobile phone through byte-sized
learning (like Duolingo and Sololearn), goal-setting and gamification. The app will
support lead generation, data-driven marketing, and provision of premium content or
services.
- Revenue generation & other benefits for the Company: Since the app will aid
lead generation and data-driven marketing, this will aid revenue generation and drive
down cost of customer acquisition. Further, it can become a direct source of revenue
for the Company through provision of premium content and services.
Improving Our Existing Student Experience Portal
- What this portal will do: This portal will be a single portal which will integrate data
across multiple tools and provide learners a single window access to all crucial
aspects of their academic journey and career development with us. The portal shall
be available to all learners, including those with disabilities, by adhering to
accessibility standards. The portal will also have robust data security measures to
protect sensitive student information and ensure compliance with data privacy
regulations
- How will this benefit the users: This portal will enable us to harness efficiency in
service delivery, save time of our delivery time and also give our students a more
focussed experience, enhanced goal-setting, greater customer delight and stickiness
to our platform.

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DIRECTORS’ REPORT
To,
The members,
The Board of Directors (“Board”) of the Company have pleasure in presenting the
7th Directors’ Report (“Report”) along with the standalone and consolidated financial
statements and auditors report thereon, for the financial year ended 31st March
2024.
1. Financial summary/ highlights of the Company:
Financial results of the Company for the financial year ended 31st March, 2024
are summarised below:
(Amount in Lakhs)
Particulars Standalone Consolidated
2024 2023 2024
Total income 6395.91 3354.47 6583.55
Total expenses 5416.80 3029.50 5536.66
Profit before tax 979.11 324.98 1046.89
Less:
Current tax 259.01 84.67 259.01
Deferred tax 66.88 (6.79) 66.88
Profit/ (loss) for the year 653.22 247.10 721.00
Earning per equity share:
Basic 5.39 2.25 5.95
Diluted 5.39 2.23 5.95
2. Financial performance of the Company:
The Company nearly doubled its revenue on a standalone as well as

consolidated basis in the wake of scaling up its offerings under the brand ‘Skill
Arbitrage’, strong results from its Test Prep vertical and maintaining a tight
control on the costs, among other things.
Standalone performance:
● Total revenue (including other income) increased from Rs. 3354.47
lakhs in the financial year 2022-23 to Rs. 6395.91 lakhs in the
financial year 2023-24.

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● Profit After Tax (“PAT”) increased from Rs. 247.10 lakhs in the
financial year 2022-23 to Rs. 653.22 lakhs in the financial year
2023-24.
Consolidated performance:
The Company acquired Dataisgood Edutech Private Limited by a Share

Purchase and Shareholders Agreement dated 26th August 2023. Prior to this
date, the Company did not have any subsidiary entities and therefore there are
no consolidated financial statements available for the year 2022-23. With this
acquisition, the Company also acquired Dataisgood LLC, a subsidiary entity of
Dataisgood Edutech Private Limited.
● Total revenue (including other income) on a consolidated basis

amounted to Rs. 6583.55 lakhs in the financial year 2023-24.
● Profit After Tax on a consolidated basis amounted to Rs. 721 lakhs in
the financial year 2023-24.
The directors express their satisfaction on the overall financial performance and
the progress made by the Company during the year under review.
3. Dividend
The Board does not recommend any dividend for the year under review.
4. Transfer to reserves
No amount has been transferred to reserves during the year under review.
5. Material changes and commitment affecting financial position of the

Company from the end of the financial year till the date of the report
The Board of Directors of the Company have approved a preferential issue of

warrants granting rights to 19,00,000 equity shares of the Company. The
approval of the preferential issue shall be placed before the members at the
ensuing Extra Ordinary General Meeting scheduled to be held on 18th
September, 2024 for approval.
There have been no other material changes and commitments that have
occurred between the end of the financial year to which the financial statements
relate and the date of this Report, which affect the financial position of the
Company.
6. Changes in nature of business, if any
There has been no change in the nature of business of the Company in the
year under review.

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7. Listing of shares by way of Initial Public Offer (IPO) on NSE Emerge
Platform
The shares of the Company were listed on the Small and Medium Enterprises
(SME) Platform of the National Stock Exchange of India Limited (NSE Emerge)
on 30th January, 2024.
8. Share capital
During the year under review, there were following changes in the share capital
of the Company:
Authorised equity share capital:

a. On 19th September, 2023 the equity share capital of the Company
was consolidated. The face value per equity share was changed from
Re.1/- each to Rs.10/- each. The authorised equity share capital then
stood at Rs. 10,000/- (comprising 1,000 equity shares of Rs. 10/-
each.)
b. On 22nd September, 2023 the authorised share capital of the
Company was increased by Rs. 17,99,00,000/- (comprising
1,79,90,000 equity shares of Rs. 10/- each) thereby aggregating to
Rs. 18,00,00,000/- (comprising 1,80,00,000 equity shares of Rs. 10/-
each.)
Issued, subscribed and paid-up equity capital:

a. On 19th September, 2023 the equity share capital of the Company
was consolidated. The face value per equity share was changed from
Re.1/- each to Rs.10/- each. The paid-up equity share capital then
stood at Rs. 10,000/- (comprising 1,000 equity shares of Rs. 10/-
each.)
b. On 23rd September, 2023 50,00,000 equity shares were issued by
way of bonus shares. The equity share capital of the Company after
the bonus issue stood at Rs. 5,00,10,000/- (comprising 50,01,000
equity shares of Rs. 10/- each)
c. On 7th October, 2023, 4,38,213 equity shares were issued by way of
private placement. The equity share capital of the Company then
became Rs. 5,43,92,130/- (comprising 54,39,213 equity shares of
Rs. 10/- each.)
d. On 16th October, 2023, 1,00,000 Optionally Convertible Preference
Shares (OCPS) were converted into 6,250 equity shares of the
Company, thereby increasing the equity share capital to Rs.
5,44,54,630/- (comprising 54,45,463 equity shares of Rs. 10/- each.)
e. On 20th October, 2023, 59,90,009 equity shares were issued by way
of bonus shares. The equity capital of the Company after the bonus
issue stood at Rs.1,14,35,472 /- (comprising 11,43,54,720 equity
shares of Rs. 10/- each.)
f. On 25th October, 2023, the Company issued 3,37,260 equity shares
to Ankit Maheshwari as consideration for the acquisition of

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Dataisgood Edutech Private Limited after which the equity share
capital of the Company was Rs. 11,77,27,320/- (comprising
1,17,72,732 equity shares of Rs. 10/- each)
g. On 25th January, 2024 the Company came out with an Initial Public
Offer (IPO) of 41,37,000 equity shares having face value of Rs. 10/-
after which the total paid up equity capital of the Company stood at
Rs. 15,90,97,320/- (comprising 1,59,09,732 equity shares of Rs. 10/-
each.)
Authorised preference share capital:
The Company had authorised preference share capital of Rs.10,25,000/-

(comprising 1,02,500 preference shares of Rs. 10/- each) at the beginning of
the year. There were no changes in the authorised preference share capital
during the year.
Issued, subscribed and paid-up preference share capital:
The Company had issued and paid up preference share capital of Rs.
10,00,000/- (comprising 1,00,000 optionally convertible preference shares of
Rs. 10/- each.) at the beginning of the year. On 16th October, 2023, all the
OCPS were converted into 6,250 equity shares of the Company.
9. Dematerialisation of Equity Shares
All the equity shares of the Company are held in the dematerialised form. The
ISIN allocated to the Company is INE0RDH01021.
10. Particulars of loans, guarantees and investments falling within the ambit
of Section 186
The particulars of loans, guarantees and investments covered within the ambit
of Section 186 of the Companies Act, 2013 have been disclosed in notes to the
financial statements.
11. Public deposit
During the year under review your company has not accepted any deposits
falling within the ambit of Section 73 of Companies Act, 2013 read with the
Companies (Acceptance of Deposits) Rules, 2014.
The details relating to deposits as required under Chapter V of the Companies

Act, 2013 are as under:
(a) accepted during the year: Nil
(b) remained unpaid or unclaimed as at the end of the year: Nil
(c) whether there has been any default in repayment of deposits or payment of
interest thereon during the year and if so, number of such cases and the total
amount involved: Not Applicable

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(i) at the beginning of the year: Nil
(ii) maximum during the year: Not Applicable
(iii) at the end of the year: Nil
(iv) the details of deposits which are not in compliance with the requirements of
Chapter V of the Act: Not Applicable
12. Subsidiary Company/ Associate Company/ Joint Venture
The Company has the following subsidiary Companies and group Companies,
as on date of this Report:
Sr. Name of Company/ LLP Reason for

No. classification under
“group Companies”
1 Dataisgood Edutech Private Limited Wholly owned subsidiary

Company (WOS)
2 Incredible Access Web Services Private Limited Common directors
3 Intelligent Risk Management Solutions LLP Common directors

(partners in case of LLP)
4 Skill Arbitrage Technology Inc.(Delaware, United Common directors

States)
5 Dataisgood LLC (Wyoming, United States) Subsidiary Company

(WOS is the
single-member)
7 Dataisgood Limited (U.K.)* Subsidiary Company
*Dataisgood Limited was incorporated in the United Kingdom (U.K.) on 20th

February, 2024.
The Company acquired shares of Dataisgood Edutech Private Limited, thereby

making it a Wholly owned subsidiary Company of the Company during the year
under review. The details of the subsidiaries are attached with this Report in
Annexure I.
13. Particulars of contracts and arrangements with related parties
During the year under review all transactions entered into by the Company with
Related Parties as defined under the Companies Act 2013 were in the ordinary
course of business and on an arm’s length pricing basis and accordingly, do not
attract the provisions of Section 188 of the Act. Hence the requirement of Form
AOC-2 as required under Section 188(1) of the Act is not applicable to the
Company. Omnibus approval of the Audit Committee shall continue to be
obtained for any related party transactions which are repetitive in nature.

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There are no material or significant related party transactions entered into by
the Company with its promoters, directors, Key Managerial Personnel (“KMP”)
or senior management personnel which may have a potential conflict with the
interest of the Company at large.
14. Directors and Key Managerial Personnel
The directors and KMP of the Company as on 31st March, 2024 are as follows:
Sr. No. Name Designation DIN/ PAN
1 Mr. Abhyudaya Agarwal Whole Time Director 05016416
2 Mr. Ramanuj Mukherjee Managing Director 05017261
3 Mr. Siddhant Singh Baid* Executive Director 07809583
4 Ms. Shruti Khanijow* Independent Director 10351347
5 Mr. Mohd Sirajjudin* Independent Director 07061023
6 Ms. Debbolina Ghosh* Independent Director 10246698
7 Mr. Siddhant Singh Baid* Chief Financial Officer AICPB2918A
8 Ms. Komal Shah* Company ACCPP5343H

Secretary/Compliance
Officer
*The following appointments were made during the year under review:
● Shruti Khanijow was appointed as an Independent Director w.e.f. 13th

October, 2023.
● Mohd Sirajuddin was appointed as an Independent Director w.e.f. 13th
October, 2023.
● Debbolina Ghosh was appointed as an Independent Director w.e.f. 19th
September, 2023.
● Siddhant Singh Baid was appointed as Chief Financial Officer w.e.f. 11th
October, 2023.
● Komal Shah was appointed as Company Secretary w.e.f. 11th October,
2023.
Retirement by rotation
Pursuant to the provisions of Section 152 of the Companies Act, 2013, Mr.
Abhyudaya Agarwal (DIN: 05016416), Director, shall retire by rotation at the
Annual General Meeting, and being eligible, he has offered himself for
re-appointment. Accordingly the proposal for his reappointment has been
included in the notice convening the Annual General Meeting of the Company.

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A brief resume of the director seeking reappointment consisting nature of
expertise in specific functional areas and name of Companies in which he holds
directorship and/or membership/chairmanships of the committees of the
respective Boards, Shareholding and relationship between Directors inter-se as
stipulated under Reg. 36(3) of SEBI (LODR) Regulations, 2015 are given in
relevant section of the notice of AGM forming part of the Annual Report.
Declaration under Section 149(6) of the Companies Act, 2013 and SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015
from Independent Directors:
The Company has duly complied with the definition of 'Independence' in

according to the provisions of Section 149(6) of the Companies Act, 2013 read
with Schedule IV- Code of Independent Directors to the Companies Act, 2013
and Regulation 16 (1) (b) and Regulation 25 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations 2015 (as amended). All the
Independent Director/s, have submitted a declaration that he/she meets the
criteria of independence and submit the declaration regarding the status of
holding other directorships and memberships as provided under law. The
Independent Directors have also confirmed that they have complied with the
Company's code of conduct for Board and Senior Management as per
Regulation 26(3) of SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015. The Independent Directors affirmed that none of them were
aware of any circumstance or situation which could impair their ability to
discharge their duties in an independent manner.
Opinion of the Board with regard to integrity, expertise and experience of

the independent directors appointed during the year:
The Directors are satisfied with the performance of all the independent directors
appointed during the year and are of the opinion that all the independent
directors are persons of integrity and possess relevant experience and
expertise.
15. Committees of the Board
As on March 31, 2024, the Board has constituted the following committees as
required in accordance with the provisions of the Companies Act, 2013 and
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
a. Audit Committee
b. Nomination and Remuneration Committee
c. Stakeholders’ Relationship Committee
In addition to the above required committees, the Board had also constituted
the following committees for ease of operations and management of the initial
public offering of the Company:

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a. Executive Committee
b. Initial Public Offer (IPO) Committee
The composition of each committee is mentioned below:
a. Audit Committee
The Board re-constituted the Audit Committee and revised the charter in
accordance with Section 177 of the Companies Act, 2013, in its meeting held
on 2nd July, 2024.
The revised composition of the Audit Committee is as follows:
Name of the Director Designation Nature of directorship
Ms. Debbolina Ghosh Chairperson Independent Director
Ms. Shruti Khanijow Member Independent Director
Mr. Siddhant Singh Baid Member Executive Director
Mr. Abhyudaya Agarwal Member Executive Director
Mr. Mohd Sirajuddin Member Independent Director
The Company Secretary and Compliance Officer of the Company will act as
the secretary of the Committee.
No Audit Committee meetings were held from 18th October, 2023, the date
of its constitution until 31st March 2024.
The revised charter of the Audit Committee is available on the website of the
Company at: https://lawsikho.com/Investors
b. Nomination and Remuneration Committee
The Board re-constituted the Nomination and Remuneration Committee and

revised the charter in accordance with Section 177 of the Companies Act,
2013, in its meeting held on 2nd July, 2024.
The revised composition of the Nomination and Remuneration Committee is

as follows:
Ms. Shruti Khanijow Chairperson Independent Director
Ms. Debbolina Ghosh Member Independent Director
Mr. Mohammed Sirajuddin Member Independent Director

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(Chairperson of the
Company)
No Nomination and Remuneration Committee meetings were held from 18th

October 2023, the date of its constitution until 31st March 2024.
The revised charter of the Nomination and Remuneration Committee is

available on the website of the Company at: https://lawsikho.com/Investors
c. Stakeholders’ Relationship Committee
The Board re-constituted the Stakeholders’ Relationship Committee and

revised the charter in accordance with Section 177 of the Companies Act,
2013, in its meeting held on 2nd July, 2024.
The revised composition and charter of the Stakeholders’ Relationship

Committee is as follows:
Ms. Debbolina Ghosh Chairperson Independent Director
Ms. Shruti Khanijow Member Independent Director
No Stakeholders Relationship Committee meetings were held from 18th

October 2023, the date of its constitution until 31st March 2024.
The revised charter of the Stakeholders Relationship Committee is available

on the website of the Company at: https://lawsikho.com/Investors
d. Executive Committee
The Board constituted the Executive Committee by a resolution by

circulation passed on 15 December 2023, to deal with day-to-day operations
of the Company such as opening and closing bank accounts, communicating
with authorities on day-to-day matters, signatures on contracts relating to
day-to-day matters etc.

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The composition of the Executive Committee is as follows:
Name Designation Nature of directorship
Mr. Ramanuj Mukherjee Chairperson Managing Director
Mr. Abhyudaya Agarwal Member Whole Time Director
The Company Secretary and Compliance Officer of the Company acts as a

secretary to the Executive Committee.
All minutes of the Executive Committee meetings held between two Board
meetings are placed before the Board at its next meeting.
e. Initial Public Offer (IPO) Committee
The Board constituted Initial Public Offer Committee vide board resolution
dated 18th October, 2023 in order to deal with various tasks relating to the
initial public offering of the Company.
The composition of the Initial Public Offer Committee is as follows:
Name Designation Nature of directorship
Mr. Ramanuj Mukherjee Chairperson Managing Director
Mr. Abhyudaya Agarwal Member Whole Time Director
The Company Secretary of the Company acts as a secretary to the

Committee.
The charter of the Initial Public Offer Committee is available on the website
of the Company at: https://lawsikho.com/Investors
16. Board meetings held during the year
During the year under review, the Board met 17 times. The intervening gap
between the Meetings was within the period prescribed under the Companies
Act, 2013 (the “Act”). Required quorum was present throughout each meeting
as per the requirement of the said Act. The meetings of board of directors of the
Company were held on 03.04.2023, 30.06.2023, 18.09.2023, 20.09.2023,
23.09.2023, 27.09.2023, 07.10.2023, 11.10.2023, 18.10.2023, 20.10.2023,

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25.10.2023, 31.10.2023, 08.01.2024, 09.01.2024, 25.01.2024, 30.01.2024 and
07.02.2024.
Attendance of the directors in the board meetings was as under:
Abhyudaya Ramanuj Siddhant Debbolina Shruti Mohd

Agarwal Mukherjee Singh Baid Ghosh Khanijow Sirajuddin
03.04.2023 Yes Yes N.A. N.A. N.A. N.A.
30.06.2023 Yes Yes N.A. N.A. N.A. N.A.
18.09.2023 Yes Yes Yes No N.A. N.A.
11.10.2023 Yes Yes Yes No No No
08.01.2024 Yes Yes Yes Yes Yes Yes
07.02.2024 Yes Yes Yes Yes Yes No
17. Annual Evaluation of the Board
The requirement to get a formal evaluation of the Board conducted has only
become applicable to the Company with effect from 30th January 2024 - the
date on which the equity shares of the Company were listed. Accordingly the
Company shall get a formal annual evaluation of the Board carried out in the
present financial year 2024-25.

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18. Directors’ Responsibility Statement
The audited accounts for the year under review are in conformity with the
requirements of the Companies Act, 2013 and the Accounting Standards. The
financial statements reflect fairly the form and substance of transactions carried
out during the year under review and reasonably present your Company’s
financial condition and results of operations.
Pursuant to Section 134 (3) (C) of the Companies Act, 2013 the Directors
confirm that:
a. In the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures, if any;
b. The accounting policies selected have been applied consistently, and
judgements and estimates are made that are reasonable and prudent, so as
to give a true and fair view of the state of affairs of your Company as at 31st
March 2024 and of the profit of your Company for the year ended on that
date;
c. proper and sufficient care has been taken for the maintenance of adequate
accounting records, in accordance with the provisions of the Act for
safeguarding the assets of your Company, and for preventing and detecting
fraud and other irregularities;
d. The annual accounts have been prepared on a going concern basis;
e. Your company has laid down proper internal financial controls and that such
internal financial controls are adequate and were operating effectively;
f. Your Company has devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and
operating effectively.
19. Energy Conservation, Technology Absorption and Foreign Exchange

Earnings and Outgo:
Pursuant to the provisions of Section 134(3)(m) and Rule 8(3) of Companies

(Accounts) Rules, 2014, the details of energy conservation, technology
absorption and foreign exchange earnings and outgo are as under:
Conservation of energy: Not Applicable

a. The steps taken or impact on conservation of energy: Not Applicable
b. The steps taken by Company for utilising alternate source of energy:
Not Applicable
c. The capital investment on energy conservation equipment: Not
Applicable
Technology Absorption: Not Applicable

a. The efforts made towards technology absorption: Not Applicable
b. The benefits derived like product improvement, cost reduction,
product development or import substitution: Not Applicable

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c. In case of imported technology(imported during the last three years
reckoned from the beginning of the Financial Year): Not Applicable
d. The expenditure incurred on research and development: Not
Applicable
The details of technology Not Applicable
The year of Import
Whether the technology has been

fully absorbed
If not fully absorbed, areas where

this has not taken place, reasons
therefore and future plan of action
Foreign Exchange earnings and outgo:

(Amount in Rupees lakhs)
Particulars Standalone Consolidated
2024 2023 2024
Foreign exchange 30.10 18.17 34.07*

earning
Foreign exchange - - -
outgo
*Includes exports and foreign exchange gains
20. Extract of Annual Return
As per the amendment in Rule 12 of Companies (Management and

Administration) Rules, 2014, a company shall not be required to attach the
extract of annual return with the Board’s Report in Form No. MGT-9, in case the
web link of such annual return has been disclosed in the Board’s report in
accordance with sub-section (3) of section 92 of the Companies Act, 2013.
The Annual return will be placed on the website of the company at the following
link: https://lawsikho.com/Investors.
21. Corporate Governance
The Company got listed on NSE Emerge platform on 30th January, 2024 but as
the shares are listed on SME Platform of NSE, by virtue of Regulation 15 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the
compliance with the corporate governance provisions as specified in regulations
17 to 27 and clause (b) to (i) of sub-regulation (2) of regulation 46 and Para C,

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D and E of schedule V are not applicable to the Company. Hence Corporate
Governance does not form part of this Board’s Report.
22. Compliance with the secretarial standards
The Company is in compliance with the applicable standards issued by the

Institute of Company Secretaries of India.
23. Internal financial control systems and their adequacy
The Company has internal financial control systems commensurate with the
size and complexity of its operations, to ensure proper recording of financials
and monitoring of operational effectiveness and compliance of various
regulatory and statutory requirements. The management regularly monitors the
safeguarding of its assets, prevention and detection of frauds and errors,
accuracy and completeness of the accounting records including timely
preparation of reliable financial information.
24. Particulars of employees
In terms of the provisions of Section 197(12) of the Companies Act, 2013 read
with Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, disclosure pertaining to remuneration and other details
are provided in the Annexure II to this Report.
Since the Company does not have any employees who draw remuneration in
excess of Rupees One Crore and Two lakhs for the financial year or Rupees
Eight Lakhs and Fifty Thousand per month when employed for part of the year,
the particulars required under Rule 5(2) and 5(3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not
required to be provided.
25. Risk management policy
Risk management policy is formulated in compliance with Regulation 21 of the

SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 and
section 134 (3) (n) of the Companies Act 2013, which requires the Company to
lay down procedures for risk assessment and risk minimization. The Board,
Audit committee and the senior management of the company periodically
review the policy and monitor its implementation to ensure the optimization of
business performance, to promote the confidence amongst stakeholders in the
process, plan and meet strategic objectives and evaluate, tackle, and resolve
various risks associated with the company. The business of the company is
exposed to various risks, arising out of internal and external factors i.e.,
industry, competition, input, geography, financial, regulatory, other operational,
information technology related other risks.

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The Risk Management Policy of the Company is available at:
https://lawsikho.com/Investors.
26. Maintenance of cost records
The Company was not required to maintain cost records under section 148 of
the Companies Act, 2013.
27. Management Discussion And Analysis
A review of operations, performance and future outlook of your Company and

its businesses is given in the Management Discussion and Analysis Report for
the FY 2023-24, which forms part of this report.
28. Auditors
a. Statutory Auditor
As per the provisions of Section 139 & 142 of the Act read with the
Companies (Audit and Auditors) Rules, 2014, the members of the Company
had appointed M/s. K R A & Co., Chartered Accountants (Firm Registration
No. 0020266N) as the Statutory Auditors for the financial year 2023-24 in the
Annual General Meeting held on 19th September, 2023 to hold office till the
conclusion of the Annual General Meeting of the Company to be held in the
year 2028.
There are no qualifications, reservations or adverse remarks made by the

M/s. K R A & Co., Statutory Auditors of Company in their Audit Report for the
year under review.
b. Secretarial Auditor
The Company has appointed Rawal & Co. (FRN: S2020UP717200), a firm of
Practising Company Secretaries as the secretarial auditor of the Company
for the financial year 2023-24 and 2024-25 under the provisions of Section
204 of the Companies Act, 2013 read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014.
There are no qualifications, reservations or adverse remarks made by the

Rawal & Co., Secretarial Auditor of Company in their Audit Report for the
year under review which is attached as Annexure-III to this report.
c. Internal Auditor
The Company has appointed CA Sachin Jain as the internal auditor of the
Company for the financial year 2024-25 under section 138 of the Companies
Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014.

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29. Reporting of frauds by Statutory auditors
During the year under review, the statutory auditors have not reported any
instances of frauds committed in the Company by its Officers or employees
under Section 143(12) of the Companies Act, 2013.
30. Details of significant and material orders passed by the regulator or court
or Tribunal
There were no significant and material orders issued against the Company by a
regulating authority or court or tribunal that could affect the going concern
status and company’s operation in future.
31. Vigil Mechanism
The Directors have established a robust Vigil Mechanism for reporting of

concerns through the Whistle Blower Policy, which is in compliance of the
provisions of Section 177 of the Companies Act, 2013, read with rule 7 of the
Companies (Meetings of Board and its Powers) Rules, 2014, and the Listing
Regulations.
The Policy provides for a channel to report genuine concerns about unethical
behaviour, actual or suspected fraud or violation of companies policies.
The Whistle Blower Policy of the Company is available at the following link:
.https://lawsikho.com/Investors
32. Code of Conduct
The Board has laid down a specific code of Conduct for all members of the
Board and senior management of the Company. The Code is available at:
https://lawsikho.com/Investors.
33. Prevention of Insider Trading
In compliance with the provisions of the Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 2015, as amended, the Company
has formulated and adopted the “Code of Conduct for prohibition of Insider
Trading” (“the Insider Trading Code”). The object of the Insider Trading Code is
to set framework, rules and procedures which all concerned should follow, both
in letter and spirit, while trading in the securities of the Company. The Insider
Trading Code is available at: https://lawsikho.com/Investors
34. Prevention of sexual harassment at workplace
The Company provides 100% remote working to its employees. Despite this,
the Company has zero tolerance for sexual harassment at workplace. The
Company has adopted a Policy on Prevention of Sexual Harassment at

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workplace in line with the provisions of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH Act) and
the rules framed thereunder. All employees (permanent, contractual, temporary,
trainees) are covered under this policy. The Company has complied with the
provisions relating to the constitution of Internal Complaints Committee under
the POSH Act. The names of members of the Internal Complaints Committee
can be found here: https://lawsikho.com/posh-complaint-committee
During the year under review, the company has received no complaints on
sexual harassment.
35. Website
The Company’s website is www.lawsikho.com. The website contains the basic

information about the Company - details of its business, financial information,
shareholding pattern, contact information of the designated official of the
Company who is responsible for assisting and handling investors grievances
and such other details as may be required under sub regulation (2) of
Regulation 46 of the Listing Regulations, 2015. The Company ensures that the
contents of this website are periodically updated.
36. Policy on directors’ appointment and remuneration and other details
A policy for appointment and remuneration of Directors, was approved by the

Board as required under Section 178(3) of the Companies Act, 2013 and Rule 6
of the Companies (Meetings of Board and its Powers) Rules, 2014. The Policy
aims to provide the criteria for eligibility to be appointed on the board, the
remuneration mechanism and a mechanism for evaluation of the performance.
The policy is available at: https://lawsikho.com/Investors.
37. Proceedings under Insolvency and Bankruptcy Code (IBC)
During the year under review, there were no applications made or proceedings
pending in the name of the company under the Insolvency Bankruptcy Code,
2016.
38. Details of one-time settlement
During the year under review, there has been no one-time settlement of loans
taken from banks and financial institutions.
39. Corporate Social Responsibility
The Board approved a policy for Corporate Social Responsibility (CSR) in its
meeting held on 2nd July, 2024. The CSR policy of the Company is available at:
https://lawsikho.com/Investors

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The Company is not required to constitute a Corporate Social Responsibility
Committee since the amount required to be spent by the company on CSR
activities for the financial year 2023-24 does not exceed Rs.50,00,000 (Rupees
Fifty lakhs).
40. Acknowledgements
The Directors take this opportunity to place on record their sincere appreciation
for the support received during the year from the investors through their
overwhelming response to the Company’s initial public offering, the learners
who trusted the Company with their careers, the employees who put in
significant efforts to ensure success of the learners. The Directors also take this
opportunity to acknowledge the support received from all our external
supporters such as the Central and State government authorities, the National
Stock Exchange of India Limited, banks and financial institutions, depositories,
analysts, advisors, suppliers and other business partners for their support
during the year.
We look forward to your continued support in achieving the formidable goals

that the Company seeks to achieve in the current financial year.
For and behalf of the Board

For, Addictive Learning Technology Limited
Ramanuj Mukherjee Abhyudaya Agarwal

Managing Director Whole Time Director
DIN: 05017261 DIN: 05016416

Place: Gurugram

35 of 117
ANNEXURE I
AOC-1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of
Companies
(Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries or
associate companies or joint ventures
Part A: Subsidiaries
Dataisgood Edutech Private Limited (consolidated with Dataisgood LLC)
[Information in respect of each subsidiary is presented with amounts in Rupees
(Rs.)]
Sr. Name of the subsidiary Dataisgood Edutech Private Limited

No. (Consolidated with Dataisgood LLC)
As on 31st March 2024
1 The date since when subsidiary was 26th August 2023

acquired
2 Reporting period for the subsidiary Same as the reporting period of the
concerned, if different from the holding holding Company.
company's reporting period.
3 Reporting currency and Exchange rate as Not Applicable.

on the last date of the relevant
Financial year in the case of foreign
subsidiaries.
4 Share capital Rs. 1,00,000/-
5 Reserves and surplus

Rs. 63,26,817/-
6 Total assets
Rs. 74,31,381/-
7 Total Liabilities
Rs. 10,04,564/-
8 Investments
-
9 Turnover
Rs. 1,87,64,297/-
10 Profit before taxation

Rs. 67,28,180/-
11 Provision for taxation

-

36 of 117
12 Profit after taxation
Rs. 67,28,180/-
13 Proposed Dividend None
14 Extent of shareholding (in percentage) 100% (6 shares held by nominees)
Sr. Name of the subsidiary Dataisgood Limited (UK)

No. (Details as on 31st March 2024)
1 The date since when subsidiary was Dataisgood Limited was incorporated
acquired on 20th February 2024
2 Reporting period for the subsidiary 1st January to 31st December

concerned, if different from the holding
company's reporting period.
3 Reporting currency and Exchange rate as Not Applicable.

on the last date of the relevant
Financial year in the case of foreign
subsidiaries.
4 Share capital GBP1
5 Reserves and surplus

Nil
6 Total assets
Nil
7 Total Liabilities
Nil
8 Investments
Nil
9 Turnover
Nil
10 Profit before taxation

Nil
11 Provision for taxation

Nil
12 Profit after taxation

Nil
13 Proposed Dividend None
14 Extent of shareholding (in percentage) 100%

37 of 117
Part B: Associates and Joint Ventures
Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to
Associate Companies and Joint Ventures: Not Applicable


DIN: 05017261 DIN: 05016416

Place: Gurugram

38 of 117
Annexure II
Disclosure as per Section 197(12) of Companies Act, 2013 and Rule 5 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014
a. the ratio of the remuneration of each director to the median

remuneration of the employees of the company for the financial year
under review and the percentage increase in remuneration of each
director, Chief Financial Officer, Chief Executive Officer, Company
Secretary or Manager, if any, in the financial year under review:
Name of Director Designation Ratio of % increase in

remuneration of remuneration
each Director to in FY 2023-24
median
remuneration
of employees
Abhyudaya Whole Time

Agarwal Director 20.52 3.13
Ramanuj Managing Director

Mukherjee 20.52 3.13
Siddhant Singh Chief Financial

Baid Officer 9.62 Nil
Shruti Khanijow Independent Nil Nil

Director
Debbolina Ghosh Independent Nil Nil

Director
Mohd Sirajuddin Independent Nil Nil

Director
Komal Shah Company Nil Nil

Secretary
b. The percentage increase in the median remuneration of employees in

the financial year under review:

39 of 117
Majority of the employees were hired in the second half of the financial year
under review, therefore there is no comparable increase in the median
remuneration during the financial year under review.
c. The number of permanent employees on the rolls of company as on

31st March 2024:
109 employees
d. Average percentile increase already made in the salaries of employees

other than the managerial personnel in the last financial year and its
comparison with the percentile increase in the managerial
remuneration and justification thereof and point out if there are any
exceptional circumstances for increase in the managerial
remuneration:
Majority of the employees were hired in the second half of the financial year
under review, therefore there is no comparable percentile increase in the
salaries of the employees. The average increase in overall managerial
remuneration is 3.13%.
e. Affirmation that the remuneration is as per the remuneration policy of

the company.
The Board of Directors of the Company affirm that the remuneration is as per
the remuneration policy of the Company.
f. The names of the top ten employees in terms of remuneration drawn is

as provided hereunder

40 of 117
Details of the top ten employees in terms of remuneration drawn from the period 1st April 2023 to 31st March 2024:
Date of Last
Percent Nature of comme employment Whether any
Ratio of age of employment nceme Age of held by such such employee
directors increase Designation - permanent Qualificatio nt of the employee is a relative of
remuneratio during of the or ns and employ employ before joining director or
S.No. Name Pan Number Remuneration n to median the year employee contractual experience ment ee the Company manager
BA LLB,
business,
12+ years
of 35
experience
ABHYUDAYA Wholetime in legal 12-Sep
1 AGARWAL AIVPA1712C 4,950,000.00 20.52 3.13 Director Permanent education. -2017 - No
BA LLB,
business,
12+ years
of 37
experience
RAMANUJ Managing in legal 12-Sep
2 MUKHERJEE AUJPM7314C 4,950,000.00 20.52 3.13 Director Permanent education. -2017 - No

41 of 117
Chief Strategy
Officer
11 (CSO)Chief
Oct-20 39 Strategy
23 Officer (CSO)
Tsecond
Chief MBA, 16+ Generation
SIDDHANT Financial years of Technology
3 SINGH BAID AICPB2918A 2,320,731.00 9.62 N.A. Officer Permanent experience Pvt. Ltd. No
BA LLB,
LLM, PhD,
UGC-NET 3-Mar- LecturerLectur
37
JRF, 9+ 2018 er
Chief Growth years of Dausa Law
4 HARSH JAIN AMOPJ6080D 2,268,816.00 N.A. N.A. Officer Permanent experience College No
MCom, Manager,
LLB, ACS, 11-Oct- Company
23+ years 2023 Secretarial,
Company of Northern Trust
5 KOMAL SHAH ACCPP5343H 2,320,731.00 N.A. N.A. Secretary Permanent experience 47 Ireland No
BTech
ANKIT Electrical, Founding
MAHESHWAR Co founder- 20+ yrs of 1-Sep- Director,
6 I AKWPM1894Q 1,726,000.00 N.A. N.A. Data is good Permanent experience 2023 44 Bluecore India No

42 of 117
BTech
Computer Deputy
Sci, 3 + yrs Manager
SHISHIR Co founder- of 1-Sep- Growth,
7 SINGH JPCPS3079M 1,395,331.00 N.A. N.A. Data is good Permanent experience 2023 26 Limeroad.com No
General
Manager
Director MBA, 8+ Sales
ROUBLE operations yrs 1-Sep- strategy,
8 OBEROI AAJPO8067E 991,669.00 N.A. N.A. -Data is good Permanent experience 2023 41 Testbook No
Associate MBA, 8+ Sales
ANMOL Director yrs 1-Sep- Manager,
9 GAKHAR BQPPG5626L 730,000.00 N.A. N.A. Sales Permanent experience 2023 32 Datatrained No
Associate BSc, 5+
AMIT KUMAR Director yrs 1-Sep- Asst TL,
10 SHARMA EMXPS4051J 637,000.00 N.A. N.A. Sales Permanent experience 2023 29 Datatrained No

43 of 117
The name of every employee, who:
● if employed throughout the financial year, was in receipt of
remuneration for that year which, in the aggregate, was not less than
Rs. 1,02,00,000/- (Rupees one crore and two lakh):
The Company does not have any employees who draw remuneration
in excess of Rupees One Crore and Two lakhs for the financial year
under review.
● if employed for a part of the financial year, was in receipt of

remuneration for any part of that year, at a rate which, in the
aggregate, was not less than Rs. 8,50,000/- per month (Rupees eight
lakh and fifty thousand):
The Company does not have any employees, employed for a part of
the financial year who draw remuneration in excess of Rupees Eight
lakh and fifty thousand for the financial year under review.
● (if employed throughout the financial year or part thereof, was in

receipt of remuneration in that year which, in the aggregate, or as the
case may be, at a rate which, in the aggregate, is in excess of that
drawn by the managing director or whole-time director or manager
and holds by himself or along with his spouse and dependent
children, not less than two percent of the equity shares of the
company:
None of the employees of the Company was in receipt of

remuneration in the financial year under review in excess of that
drawn by the managing director or whole-time director or manager.
Therefore, the data relating to the shareholding of the employees is
not required to be provided.


DIN: 05017261 DIN: 05016416

Place: Gurugram

44 of 117
Rawal & Co.
(Company Secretaries)
Office: 631/101, Surendra Nagar, Lucknow-226016.
Email Id: vivekrawal89@gmail.com, Tel: +91-7827794619
Registration No. S2020UP717200, Peer Review No. 5722/2024
Annexure-III
FORM NO. MR-3
SECRETARIAL AUDIT REPORT
(Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9
of the Companies (Appointment and Remuneration Personnel) Rules, 2014)
Secretarial Audit Report
For the Financial Year ended March 31, 2024
To,
The Members
ADDICTIVE LEARNING TECHNOLOGY LIMITED
(Formerly Known as Addictive Learning Technology Private Limited)
Space Creattors Heights, 3rd Floor, Landmark Cyber Park, Golf Course Extension,
Sector 67, Gurgaon, Haryana India, 122002
I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good
corporate practices by Addictive Learning Technology Limited (herein after referred as “Company”).
Secretarial Audit conducted in a manner that provided me a reasonable basis for evaluating the corporate conducts/
Statutory Compliances and expressing my opinion thereon.
Based on our verification of the Company's Books, Papers, Minute Books, Forms and Returns filed and other records
maintained by the Company and also the information provided by the Company, its Officers, Agents and Authorised
Representatives during the conduct of Secretarial Audit, I hereby report that in my opinion, the Company has, during
the audit period covering the Financial Year ended on March 31, 2024 has complied with the Statutory provisions
listed hereunder and also that the Company has proper Board processes and Compliance mechanism in place to the
extent, in the manner and subject to the reporting made hereinafter:
I have examined the Books, Papers, Minute Books, Forms and Returns filed and other Records maintained by the
Company for the Financial Year ended on March 31, 2024 according to the provisions of:
1. The Companies Act, 2013 (the Act) and the rules made thereunder
2. The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
3. The Depositories Act, 1996 and the Regulations and Byelaws framed thereunder;
4. Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign
Direct Investment, Overseas Direct Investment and External Commercial Borrowings;
5. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992
(SEBI Act'):
a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
d) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client;
e) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase
Scheme) Guidelines, 1999; (Not applicable as the Company has not issued securities under Employee Stock
Option Scheme and Employee Stock Purchase Scheme during the financial year under review)
f) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009. (Not Applicable as
the neither Company has existing Debt Securities nor have issued any fresh securities during the year under
review);

45 of 117
g) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not
Applicable as the neither Company has existing Debt Securities nor have issued any fresh securities during the
year under review);
h) The Securities and Exchange board of India (Listing obligation and Disclosure requirement) Regulation, 2015.
i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (Not applicable as the
Company has not bought back any of its securities during the financial year under review)
I, have examined all the other applicable laws to the Company on the basis of the representations made by the
Management.
I, have also examined compliance with the applicable clauses of the following:
a) Secretarial Standards pursuant to section 118(10) of the Act, issued by the Institute of Company Secretaries of
India;
b) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards, etc.
I, FURTHER REPORT THAT
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during
the period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were
sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications
on the agenda items before the meeting and for meaningful participation at the meeting.
All the decisions were carried out unanimously by the Members of the Board and Committees and the same were
duly recorded in the Minutes of the Meeting of the Board of Directors and Committees of the Company.
I, FURTHER REPORT that there are adequate systems and processes in the company to commensurate with the
size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and
guidelines.
I FURTHER REPORT that there were no instances of:

i. Rights issue of shares/ debentures.
ii. Buy-Back of securities.
iii. Merger/amalgamation/reconstruction etc.
iv. Foreign technical collaborations
For and on behalf of.

Rawal & Co.
Sd/-
Vivek Rawal
FRN: S2020UP717200
Membership No: A43231
C.P No: 22687
UDIN: A043231F001117205
Date: 03/09/2024
Place: Gurgaon

46 of 117
Annexure A
To,
The Members
(Formerly Known as Addictive Learning Technology Private Limited)
Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension,
Sector 67, Gurgaon, Haryana India, 122002
Our report of even date is to be read along with this letter
1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility
is to express an opinion on these secretarial records based on our audit.
2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about
the correctness of the contents of the secretarial record. The verification was done on test basis to ensure that
the correct facts are reflected in secretarial records. I believe that the practices and processes, we followed
provide a reasonable basis for our opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of Accounts of the
company.
4. Where ever required, I have obtained management representation about the compliance of laws, rules,
regulations, norms and standards and happening of events.
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, norms and
standards is the responsibility of management. Our examination was limited to the verification of procedure
on test basis.
6. The secretarial audit report is neither an assurance as to the future viability of the Company nor of the efficacy
or effectiveness with which the management has conducted the affairs of the Company.
7. I have reported, in our audit report, only those non-compliance, especially in respect of filing of applicable
forms/documents, which, in our opinion, are material and having major bearing on financials of the Company

Rawal & Co.
Sd/-
Vivek Rawal
FRN: S2020UP717200
C.P No: 22687
UDIN: A043231F001117205
Date: 03/09/2024
Place: Gurugram

47 of 117
Rawal & Co.
Office: 631/101, Surendra Nagar, Lucknow-226016.
Email Id: vivekrawal89@gmail.com, Tel: +91-7827794619
Registration No. S2020UP717200, Peer Review No. 5722/2024
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015)
To,
The Board of Directors of
Add: Space Creattors Heights, 3rd floor, Landmark Cyber Park,
Golf Course Extension, DLF QE, Sector 67, Gurgaon, Haryana 122102.
We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of
Addictive Learning Technology Limited having CIN: L74110HR2017PLC118029 and having registered office at
Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, DLF QE, Sector 67, Gurgaon,
Haryana 122102 (hereinafter referred to as ‘the Company’), produced before us by the Company for the purpose of
issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the
Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In our opinion and to the best of our information and according to the verifications (including Directors Identification
Number (DIN) status at the portal www.mca.gov.in) as considered necessary and explanations furnished to us by the
Company & its officers, we hereby certify that none of the Directors on the Board of the Company as stated below
for the Financial Year ended on 31st March, 2024 have been debarred or disqualified from being appointed or
continuing as Directors of companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs
or any such other Statutory Authority.
Sr. No. Name Of Director DIN
1. Ramanuj Mukherjee 05017261
2. Abhyudaya Agarwal 05016416
3. Siddhant Singh Baid 07809583
4. Mohd Sirajuddin 07061023
5. Shruti Khanijow 10351347
6. Debbolina Ghosh 10246698

48 of 117
Ensuring the eligibility for the continuity of every Director on the Board is the responsibility of the management of
the Company. Our responsibility is to express an opinion on these, based on our verification. This certificate is neither
an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the
management has conducted the affairs of the Company.

Rawal & Co.
Sd/-
Vivek Rawal
FRN: S2020UP717200
C.P No: 22687
UDIN: A043231F001154803
Date: 06/09/2024
Place: Gurgaon

49 of 117
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ADDICTIVE LEARNING TECHNOLOGY LIMITED
Report on the Audit of the Standalone Financial Statements
Opinion
We have audited the standalone financial statements of ADDICTIVE LEARNING
TECHNOLOGY LIMITED (“the Company”), which comprise the balance sheet as at March
31,2024, the statement of profit and loss, and statement of cash flows for the year then ended, and
notes to the financial statements, including a summary of significant accounting policies and other
explanatory information
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone financial statements give the information required by the Companies Act, 2013
in the manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2024, and its Profit,
and its cash flows for the year ended on that date.
Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. 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 together with the ethical requirements that are relevant to our audit
of the financial statements under the provisions of the Companies Act, 2013 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.
Other Information
The Company’s Board of Directors is responsible for the other information. The other information
comprises the information included in the annual report but does not include the financial statements
and our auditor’s report thereon. The annual report is expected to be made available to us after the
date of this auditor's report.
Our opinion on the financial statements does not cover the other information and we will not express
any form of assurance or conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information identified above when it becomes available 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.
When we will read the annual report, if we conclude that there is a material misstatement therein, we
are required to communicate the matter to those charged with governance.

50 of 117
Responsibilities of Management and Those Charged with Governance for the Standalone
Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the
Companies Act, 2013 (“the Act”) with respect to the preparation 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 principles generally accepted in India,
including the Accounting Standards specified under section 133 of the Act. 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.
In preparing the financial statements, the Board of Directors is 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 intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting
process.
Auditor’s Responsibilities for the Audit of the Financial Statements

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 SAs 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.
As part of an audit in accordance with SAs, 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.

51 of 117
 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
Companies Act, 2013, we are also responsible for expressing our opinion on whether the
company has adequate internal financial controls system 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 management’s 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.
 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.
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.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Companies
Act, 2013, we give in the “Annexure A” a statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report 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 purposes of our audit.
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

52 of 117
c. The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement
dealt with by this Report are in agreement with the books of account
d. In our opinion, the aforesaid standalone financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014.
e. On the basis of the written representations received from the directors as on March
31, 2024 taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2024 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 over financial
reporting of the Company and the operating effectiveness of such controls, refer to
our separate Report in “Annexure B”.
g. With respect to the matter to be included in the Auditor’s Report under Section
197(16) of the Act:
In our opinion, the managerial remuneration for the year ended March 31, 2024 has
been paid by the Company to its directors in accordance with the provisions of
section 197 read with Schedule V to the Act;
h. 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, in our
opinion and to the best of our information and according to the explanations given
to us:
i. The Company does not have any pending litigations which would impact its
financial position.
ii. The Company did not have any long-term contracts including derivative
contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred, to the
Investor Education and Protection Fund by the Company.
iv. a) The Management has represented that, to the best of its knowledge and
belief, a fund of Rs. 7.61 crores has made 100% investment in the company
named “Dataisgood Edutech Private Limited”.
(b) The Management has represented, that, to the best of its knowledge and
belief, no funds (which are material either individually or in the aggregate)
have been received by the Company from any person or entity, including
foreign entity (“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;
(c) Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances, nothing has come to our notice that has
caused us to believe that the representations under sub-clause (i) and (ii) of

53 of 117
Rule 11(e), as provided under (a) and (b) above, contain any material
misstatement.
For KRA & Co.

(Firm Registration No.020266N)
Gunjan Arora
Partner
Membership No.: 529042
UDIN: 24529042BKAMUK8827
Place: Delhi
Date: 09th May 2024

54 of 117
ANNEXURE - A TO THE INDEPENDENT AUDITORS’ REPORTOF EVEN DATE
ON THE STANDALONE FINANCIAL STATEMENTS OF ADDICTIVE LEARNING
TECHNOLOGY LIMITED
(Referred to in Paragraph 1 under the heading of “Report on Other Legal and Regulatory
Requirements” of our report of even date)
(i) (a) (A) The Company has maintained proper records showing full particulars, including
quantitative details and situation of Property, Plant and Equipment.
(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 does not hold any
intangible assets. Consequently, clause (i)(a)(B) of the Order is not applicable to the
Company.
(b) In accordance with the phased programme for verification of Property, Plant and
Equipment, certain items of Property, Plant and Equipment were physically verified
by the management during the year and no material discrepancies were noticed on
such verification.
(c) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company does not have any
immovable properties. Consequently, clause (i)(c) of the Order is not applicable to
the Company.
(d) 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 revalued any
Property, Plant and Equipment during the year. Consequently, clause (i)(d) of the
Order is not applicable to the Company.
(e) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, no proceedings have been initiated or
are pending against the company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, if so.
Consequently, clause (i)(e) of the Order is not applicable to the Company.
(ii) (a) The company does not hold any inventory as the Company is
mainly in the business of providing consultancy education services such as
Law, Management Studies, Online Education, Personality Development
Program etc.
(b) The company has not been sanctioned working capital limits in
excess of five crore rupees (at any point of time during the year), in
aggregate, from banks or financial institutions based on security of current
assets. Consequently, clause (ii)(b) of the Order is not applicable to the
Company.
(iii) According to the information and explanations given to us, the Company has not granted
any loans, secured or unsecured, to companies, firms or other parties covered in the register

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maintained under Section 189 of the Companies Act, 2013. Consequently, clause (iii) of the
(iv) 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 complied with the provisions
of Sections 185 and 186 of the Companies Act, 2013 in respect of grant of loans, making
investments and providing guarantees and securities, as applicable.
(v) 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 accepted any deposit
during the year. Consequently, clause (v) of the Order is not applicable to the Company.
(vi) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the Company is not required to maintain cost
records under section 148(1) of the Companies Act, 2013. Consequently, clause (vi) of the
(vii) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, in respect of statutory dues:
(a) The Company has generally been regular in depositing undisputed statutory dues
including Provident Fund, Employees State Insurance, Income-tax, Sales-tax,
Service Tax, Custom Duty, Excise Duty, value added tax, GST, cess and any other
dues, during the year, with the appropriate authorities except in case of TDS.
(b) There were no undisputed amounts payable in respect of Provident Fund,
Employees State Insurance, Income-tax, Sales-tax, Service Tax, Custom Duty,
Excise Duty, value added tax, GST, cess and other material statutory dues in arrears
as at March 31, 2024 for a period of more than six months from the date they became
payable.
(c) There are no dues of Income-tax, Sales-tax, Excise Duty, GST and Service Tax
which have not been deposited as on March 31, 2024, on account of disputes with
the related authorities.
(viii) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, there are no transactions which are not recorded
in the books of account and have been surrendered or disclosed as income during the year in
the tax assessments under the Income Tax Act, 1961
(ix) (a) 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 defaulted in the
repayment of dues to financial institutions or banks.
(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 been declared
willful defaulter by any bank or financial institution or other lender.
(c) 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 availed any term

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loan during the period. Consequently, clause (ix)(c) of the Order is not applicable to
the Company.
(d) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the funds raised on short term basis
have not been utilized for long term purposes. Consequently, clause (ix)(d) of the
(e) 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 taken any funds
from any entity or person on account of or to meet the obligations of its subsidiaries,
associates or joint ventures. Consequently, clause (ix)(e) of the Order is not
applicable to the Company.
(f) 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 raised loans during
the year on the pledge of securities held in its subsidiaries, joint ventures or associate
companies. Consequently, clause (ix)(f) of the Order is not applicable to the
Company.
(x) In our opinion and according to the information and explanations given to us, the Company
has not availed any term loans during the year. The Company has made an initial public offer
during the year. The company has received gross proceeds from fresh issue of equity shares
amounting to Rs. 57,91,80,000. The utilization of the net proceeds is summarized as below:-
All amounts in Rupees Lakhs
Proposed
utilisation Utilisation Unutilised
Gross as per upto 31-3- amount as
Particular Proceeds Prospectus 24 at 31-3-24
Unidentified Acquisition (In India & Abroad) 500.00 500.00
Identified Acquisition 300.00 100.00 200.00
Investment in Technology 800.00 800.00
Development of new courses 500.00 500.00
Branding & Marketing Expenses 1000.00 1000.00
Working Capital Requirement 800.00 800.00
General Corporate Purposes Not Defined -
Issue Expenses Not Defined 1011.05 (1011.05)
Total 5791.80 3900.00 1111.05 4680.75
(xi) (a) To the best of our knowledge and according to the information and explanations
given to us, no material fraud by the Company or on the Company has been noticed
or reported during the year.
(b) According to the information and explanations given to us, no report under sub-
section (12) of section 143 of the Companies Act has been filed by the auditor in

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Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules,
2014 with the Central Government.
(c) According to the information and explanations given to us, no whistle blower
complaints have been received during the year. Consequently, clause (xi)(c) of the
(xii) According to the information and explanations given to us, the Company is not a Nidhi
Company. Consequently, clause (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
with the related parties are in compliance with section 177 and 188 of Companies Act, 2013,
and corresponding details have been disclosed in the financial statements, as required by the
applicable Accounting Standards.
(xiv) (a) In our opinion and according to the information and explanations given to us, the
company has an internal audit system commensurate with the size and nature of its business.
(b) As the internal Audit is not applicable to the company. Accordingly, requirement under
clause (xiv) is not applicable to the company.
(xv) In our opinion and according to the information and explanations given to us, the Company
has not entered into any non-cash transactions with directors or persons connected with him.
(xvi) The Company is not required to be registered under section 45-IA of the Reserve Bank of
India Act, 1934. Consequently, clause (xvi)(a), (b), (c) of the Order is not applicable to the
Company.
(xvii) The Company has not incurred any cash losses in the financial year and in the immediately
preceding financial year.
(xviii) There is resignation of the Statutory Auditor during the year, hence this clause is applicable
and we have taken into consideration the issue, objections and concerns raised by outgoing
auditor.
(xix) According to the information and explanations given to us and on the basis of the financial
ratios, ageing and expected dates of realization of financial assets and payment of financial
liabilities, other information accompanying the financial statements, our knowledge of the
Board of Directors and management plans 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 that the 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) In our opinion and according to the information and explanations given to us, the Company
is not required to spend under section 135 of the Companies Act, 2013. Consequently, clause
(xx) of the Order is not applicable to the Company.

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For KRA & Co.
Gunjan Arora
Partner
Place: Delhi
Date: 09th May 2024

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ANNEXURE “B” TO THE INDEPENDENT AUDITORS’ REPORT OF EVEN DATE
ON THE STANDALONE FINANCIAL STATEMENTS OF ADDICTIVE LEARNING
TECHNOLOGY LIMITED
(Referred to in Paragraph 2 point (f) under the heading of “Report on Other Legal and
Regulatory Requirements” of our report of even date)
Report on the Internal Financial Controls Over Financial Reporting under Clause(i) of Sub-
section 3 of Section 143 of the Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of ADDICTIVE
LEARNING TECHNOLOGY LIMITED (“the Company”) as at March 31, 2024, in conjunction
with our audit of the standalone financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial
controls based on the internal control over financial reporting 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 its business, including adherence to 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
Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial
reporting based on our audit. We conducted our audit in accordance with the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) issued by
Institute of Chartered Accountants of India and the Standards on Auditing prescribed under section
143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls,
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 over financial reporting was established and maintained and if such controls operated
effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal
financial controls system over financial reporting and their operating effectiveness. Ouraudit of
internal financial controls over financial reporting included obtaining an understanding of internal
financial controls over financial reporting, 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.

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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 system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting 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 control over financial reporting includes 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 authorizations of management and directors of the company;
and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
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 Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, 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 over financial reporting to future periods are subject to the risk that the internal
financial control over financial reporting may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, to the best of our information and according to the explanation given to us, the
Company has, in all material respects, an adequate internal financial controls system over financial
reporting and such internal financial controls over financial reporting were operating effectively as at
March 31, 2024, based on the internal control over financial reporting 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.
For KRA & Co.

Gunjan Arora
Partner
Place: Delhi
Date: 09th May 2024

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(Formerly known as Addictive Learning Technology Private Limited)
CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67, Gurgaon, Haryana 122102, DLF QE,
Gurgaon, Dlf Qe, Haryana, India, 122002
Standalone Statement of Assets and Liabilities
All amounts in Rupees Lakhs (unless otherwise stated)

Note
Particulars As at March 31, 2024 As at March 31, 2023
No.
EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share capital 2 1590.97 10.10
(b) Reserves and surplus 3 5174.97 196.18
6765.94 206.28
Non-current liabilities
(a) Deferred tax liabilities 22 59.13
(b) Long term provision 4 29.75 -
88.88 -
Current liabilities
(a) Short Term Borrowings 5 - 15.73
(b) Trade payables 6
(A) Total outstanding dues of micro enterprises and small enterprises 5.40 1.08
(B) Total outstanding dues of Creditors other than micro enterprises and 93.23 3.69
small enterprises
(c) Other current liabilities 7 630.99 574.55
(d) Short-term provisions 8 277.78 83.13
1007.40 678.17
TOTAL 7862.23 884.45

ASSETS
Non-current assets
(a) Property, Plant and Equipment 9
(i) Tangible Assets 19.28 22.23
(ii) Intangible Assets 1897.94
(b) Non Current Investment 10 760.95 -
(c) Deferred Tax Assets 22 7.75
2678.17 29.98
Current assets
(a) Trade receivables 11 47.21 2.42
(b) Cash and cash equivalents 12 4950.80 170.80
(c) Short-term loans and advances 13 3.22 0.21
(d) Other Current Assets 14 182.83 681.04
5184.06 854.47
TOTAL 7862.23 884.45
Significant Accounting Policies 1

The accompanying notes from 1 to 29 are integral part of the financial statements.
This is the Balance Sheet referred to in our audit report of even date.
For KRA & Co. For and on behalf of the Board of Directors of
Chartered Accountants Addictive Learning Technology Limited
FRN: 020266N
Gunjan Arora Abhyudaya Agarwal Ramanuj Mukherjee

Partner Whole Time Director Managing Director
Membership No. 529042 DIN: 05016416 DIN: 05017261
Place: Delhi Siddhant Singh Baid Komal Palak Shah

Date:09-05-2024 CFO Company Secretary
UDIN: 24529042BKAMUK8827 PAN: AICPB2918A PAN: ACCPP5343H

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CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67,
Standalone Statement of Profit and loss

Particulars Note For the year ended For the year ended
No. March 31st, 2024 March 31st, 2023
Revenue from operations 15 6395.77 3353.43

Other income 16 0.14 1.04
Total income 6395.91 3354.47
Expenses
Cost of Services 17 1257.76 885.55
Employee benefits expense 18 753.32 189.37
Depreciation and amortization expense 19 276.56 9.51
Finance Cost - - -
Other expenses 20 3129.16 1945.07
Total expenses 5416.80 3029.50
PROFIT BEFORE TAX 979.11 324.98
Tax expenses:
Current tax 259.01 84.67
Deferred tax 66.88 (6.79)
Total tax expense 325.90 77.88
PROFIT FOR THE YEAR 653.22 247.10
Earnings per Equity share [Nominal value per share 21

Rs.10 (2023: Rs.1)]
Basic (Rs.) 5 2
Diluted (Rs.) 5 2
The accompanying notes are an integral part of these financial statements.
This is the Statement of Profit and Loss referred to in our report of even date
Chartered Accountants Addictive Learning Technology Private Limited
FRN: 020266N

Siddhant Singh Baid Komal Palak Shah

Place: Delhi CFO Company Secretary
Date:09-05-2024 PAN: AICPB2918A PAN: ACCPP5343H

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CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67, Gurgaon, Haryana 122102, DLF QE, Gurgaon,
Dlf Qe, Haryana, India, 122002
Standalone Statement of Cash Flow
For the year ended March 31st, 2024 For the year ended March 31st, 2023
Particulars
A Cash flow from operating activities

Profit before tax 979.11 324.98
Adjustment to reconcile profit before tax to net cash flows
Depreciation / amortization expenses 276.56 9.51
Interest income (0.14) (1.04)
Interest on loan - -
Operating profit before working capital changes 1255.53 333.44
Movements in working capital :
(Increase) / decrease in trade receivables (44.79) (2.41)
(Increase) / decrease in other current assets 498.21 (657.46)
(Increase) / decrease in Short-term loans and advances (3.01) 33.02
Increase / (decrease) in trade payables 93.85 (90.96)
Increase / (decrease) in other current liabilities 56.44 526.35
Increase / (decrease) in short term provisions 224.41 83.52
Net cash flow (used in) operations 2080.65 225.50
Less: Direct taxes paid Including Advance taxes (259.40) (86.07)
Net cash flow (used in) operating activities (A) 1821.25 139.43
B Cash flows from investing activities

Purchase of Invesments (760.95)
Purchase of fixed assets (2171.55) (15.81)
Sale of Fixed Assets
Interest received 0.14 1.04
Net cash flow (used in)/ generated from investing activities (B) (2932.36) (14.77)
C Cash flows from financing activities

Other Non- Current Liabilities -
Proceeds from Share Issued 6917.89
Proceeds/ (repayments) from/ of borrowings (15.73) 15.73
IPO Expenses Paid (1011.05)
Foreign Exchange Gain
Interest paid on loan - -
Net cash flow from/ (used in) in financing activities (C) 5891.11 15.73
Net increase/(decrease) in cash and cash equivalents (A + B + C) 4780.00 140.39
Cash and cash equivalents at the beginning of the year 170.80 30.41
Cash and cash equivalents at the end of the year 4950.80 170.80
Notes to cash flow statement
1. Components of cash and cash equivalents :

As at As at
31 March 2023 31 March 2023
Cash in hand 0.56 0.53

Balances with banks:
- On current accounts 4950.24 170.27
4950.80 170.80
For KRA & Co.

FRN: 020266N


Date:09-05-2024 CFO Company Secretary
UDIN: 24529042BKAMUK8827 PAN: AICPB2918A PAN: ACCPP5343H

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CIN:U74110HR2017PLC118029
(All amounts in Rupees Lakhs, unless otherwise stated)
Notes to the financial statements for the period ended March 31, 2024
1. Corporate Information
Addictive Learning Technology Limited (the “Company”) (formerly known as Addictive Learning Technology Private Limited) was incorporated on September 12, 2017 under the Indian Companies Act, 2013
having registered office at Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67, Gurgaon, Haryana 122102, DL FQE, Gurgaon, Dlf Qe, Haryana, India, 122002. The
Company is engaged in the business of providing consultancy education services such as Law, Management Studies, Online Education, Personality Development Program etc.
Summary of significant accounting policies
(i) Basis of preparation

These financial statements have been prepared to comply in all material aspects with the accounting standards notified under Companies (Accounting Standards) Rules, 2021, specified under section 133
and other relevant provisions of the Companies Act, 2013.
The Standalone Financial Statements have been prepared on accrual basis under the historical cost convention except for certain financial instruments and share-based payment transactions that are
measured at fair value as required by relevant AS.
Accounting policies have been consistently applied to all the years presented unless otherwise stated.
Company has prepared the financial statements on the basis that it will continue to operate as a going concern.
All assets and liabilities have been classified as current / non-current as per the Company’s normal operating cycle and other criteria set out in the Schedule III (Division I) to the Companies Act, 2013.
Based on the nature of services and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12
months for the purpose of current / non current classification of assets and liabilities.
(ii) Property, plant and equipment

Property, plant and equipment are carried at cost less accumulated depreciation and impairment losses, if any. The cost of property, plant and equipment comprises its purchase price net of any trade
discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its
intended use and other incidental expenses.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to
the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance
are charged to An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss
arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in the
statement of profit and loss.
(iii) Intangible assets

Acquired intangible assets
Intangible assets that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses.
Internally generated intangible assets

Research expenditure and development expenditure that do not meet the criteria as stated below are recognised as an expense as incurred. Development costs previously recognised as expense are not
recognised as an asset in a subsequent period.
An internally-generated intangible asset arising from development (or from the development phase of an internal project) is recognised if, and only if, all of the following have been demonstrated:
• the technical feasibility of completing the intangible asset so that it will be available for use or sale.
• the intention to complete the intangible asset and use or sell it.
• the ability to use or sell the intangible asset.
• how the intangible asset will generate probable future economic benefits.
• the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset, and
• the ability to measure reliably the expenditure attributable to the intangible asset during its development.
The amount initially recognised for internally-generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above.
Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that
are acquired separately.
An intangible asset is derecognised upon disposal (i.e., at the date the recipient obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon
derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit and loss, when the asset is
derecognised.
The expenditure which has been incurred during the year on Content Development for which the results and benefits of these expenditure would be obtained over the multiple years in coming future has
been considered as "Deferred Revenue Expenditure" in the books of accounts till previous financial year, From current Financial Year we have changed the policy and considered as intangible assets.
This has resulted in an increase in profit before tax for current financial year, after taking into account the adjustment for previous financial year as well, by INR 364.07 Lacs.
This accounting policy change also harmonises treatment of Content Development under Income Tax Act, which was already being followed for the previous year as well.

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Depreciation and amortisation
Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value.
Depreciation on property, plant and equipment has been provided on the straight-line method as per the useful life prescribed in Schedule II to the Companies Act, 2013 except in respect of the office
equipments and furnitures and fixtures, in which cases the life of the assets has been assessed as under based on technical advice, taking into account the nature of the asset, the estimated usage of the
asset, the operating conditions of the asset, past history of replacement, anticipated technological changes, manufacturers warranties and maintenance support, etc.
The estimated useful lives of property, plant and equipment are as under:
Asset category Useful life
Office equipments other than mobile handsets 5 years
Office equipments - mobile handsets 3 years
Servers (included in computers) 6 years
Furniture and Fixtures 10 years
Machinery 15 years
Computers 3 years
Leasehold improvements Primary period
of the lease
Intangible assets are amortised in the Statement of Profit and Loss over their estimated useful lives on straight line method, from the date that they are available for use. The Company amortises its
intangible assets as follows:
Asset category Useful life

Acquired software 6 years
Acquired technical know-how 5 years
Internally generated intangibles (Application) 5 years
The depreciation charge for each period is recognised in the Statement of Profit and Loss, unless it is included in the carrying amount of any other asset. The useful life, residual value and the depreciation
method are reviewed at each financial year end. If the expectations differ from previous estimates the changes are accounted for prospectively as a change in accounting estimates.
(iv) Revenue recognition

Revenue from services is recognized based on services rendered on a cost plus basis in accordance with terms of the master services agreements entered into by the Company with its customers and is net
of goods and services tax (GST). Revenue in excess of billings on service contracts is recorded as unbilled revenue and is included in Trade receivables.
Interest: Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.
Income from export incentives is recognised when the application is filed with the government authority and when it is reasonable certain that ultimate collection will be made.
(v) Foreign currency translation
Initial Recognition:
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of
the transaction.
Subsequent Recognition:
As at the reporting date, 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.
All monetary assets and liabilities in foreign currency are restated at the rates ruling at the end of accounting period. Exchange differences arising therefrom are recognized in the Statement of Profit and
Loss.
(vi) Current and deferred tax

Tax expense for the period, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period. Current tax is measured at the amount expected to be paid to
the tax authorities in accordance with the taxation laws prevailing in the respective jurisdictions.
Deferred tax is recognised for all the timing differences, subject to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recognised and carried forward only to the extent
that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.
Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. In situations, where the Company has
unabsorbed depreciation or carry forward losses under tax laws, all deferred tax assets are recognised only to the extent that 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, if any.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle the assets and the liability on net basis.
Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to set off assets against liabilities representing current tax and where the deferred tax assets and deferred
tax liabilities relate to taxes on income levied by the same governing taxation laws.
(vii) 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.
Earnings considered in ascertaining the Company’s earnings per share is the net profit for 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 shares, other than the conversion of potential equity 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 period attributable to equity shareholders and the weighted average number of shares outstanding during
the period is adjusted for the effects of all dilutive potential equity shares.

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(viii) Use of estimates
The preparation of financial statements in conformity with the Generally Accepted Accounting Principles ("GAAP") in India, requires management to make estimates and assumptions that affect the
amounts reported for assets and liabilities including the recoverability of Property, plant and equipment and intangible assets, disclosure of contingent liabilities as at the date of the financial statements
and the date of the financial statements and the reported amounts of income and expenses during the reported period. On an on-going basis, management evaluates the estimates.
The most significant estimates relate to provision for expenses related to income taxes, contingencies and litigations, employee benefits and useful life of assets. Management bases its estimates on
historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which, form the basis for making judgments about the carrying values of
assets and liabilities that are not readily apparent from other sources. The actual amounts may differ from the estimates used in the preparation of the financial statements.
(ix) Provisions and contingent liabilities

Provisions: Provisions are recognized when the Company has a present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate of the amount of the obligation can be made. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the
Balance sheet date and are not discounted to its present value.
Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence
of one or more uncertain future events not wholly within the obligation that arises from 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.
(x) Cash and cash equivalents

Cash and cash equivalents includes cash in hand, demand deposits with banks with original maturities of three months or less.

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CIN:U74110HR2017PLC118029
Notes to the financial statements as at March 31st, 2024
As at March 31, 2024 As at March 31, 2023
2 Share Capital
Authorized
1,80,00,000 Equity Shares of Rs.10/- each (2023: 100,000 Equity Shares of Rs.1/- each) 1800.00 1.00
100,000, 0.0001% Optionally Convertiable Preference Shares of Rs.10 each 10.00 10.00
2500 Compulsorily Convertiable Preference Shares of Rs.10 each 0.25 0.25
1810.25 11.25
Issued, Subscribed and Paid up

1,59,09,732 Equity Shares of Rs.10/- each fully paid up (2023: 10,000 Equity Shares of Rs.1/- each fully paid up) 1590.97 0.10
100,000, 0.0001% Optionally Convertiable Preference Shares of Rs.10 each - 10.00
1590.97 10.10
(i) Reconciliation of number of shares outstanding at the beginning and at the end of year:
For the year ended March 31st, For the year ended March
Equity Shares 2024 31st, 2023
No. of Shares Amount No. of Shares Amount
(in Numbers) (in Lakhs) (in Numbers) (in Lakhs)
Balances at the beginning of the year 10,000 0.10 10,000 0.10
Movement during the year - -
Consolidation of Shares (9,000) -
Bonus Shares 1,09,90,009 1099.00
Private Placement 7,75,473 77.55
Initial Public Offer 41,37,000 413.70
Convertiable Preference Shares 6,250 0.63
Balance outstanding as at the end of the year 1,59,09,732 1590.97 10,000 0.10
For the year ended March 31st, For the year ended March
Preference Shares (0.001% Optionally Convertiable Preference Shares) 2024 31st, 2023
Balances at the beginning of the year 1.00 10.00 - -
Movement during the year (1.00) (10.00) 1.00 10.00
Balance outstanding as at the end of the year - - 1.00 10.00
(ii) Rights, preferences and restrictions attached to shares:

Equity Shares-
The Company has one class of equity shares having a par value of Rs.10 per share (Last year par value is Rs.1 per share and then Equity share capital of the
company is consolidated from Rs. 1/- per equity share to Rs. 10/- per equity share by passing an Ordinary Resolution in a duly convened Annual General
Meeting held on September 19,2023). Each shareholder is eligible for one vote per share held. The dividend, if proposed by the Board of Directors is subject to
the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders
are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Preference Shares-
As on March 31, 2024, there is no Preference share capital. The Company had issued 0.0001% Optionally Convertiable Preference Shares of Rs.10 per share
during the period ending March 31, 2023 which are eligible for 0.0001% dividend and voting rights which are available to Preference Shareholders under the
Companies Act, 2013, however, they are not eligible for voting rights on other matters. In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

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(iii) Details of shares held by shareholders holding more than 5% of the aggregate shares in the company
Equity Shares No. of Shares % of Holding No. of Shares % of Holding
Abhyudaya Agarwal 44,39,103 27.90% 4,800 48%
Ramanuj Mukherjee 44,39,103 27.90% 4,800 48%
0.0001% Preference Shares

Ajeet Singh Khurana - 0% 1,00,000 100%
(iv) Details of promoters’ shareholding

Abhyudaya Ramanuj
Agarwal Mukherjee
No. of shares as at 01/04/2022 4,800 4,800
Change during the year -500 -500
No. of shares as at 31/03/2023 4,300 4,300
% of total shares 43% 43%
% change during the year -10% -10%
No. of shares as at 01/04/2023 4,300 4,300
Change during the Period 44,34,803 44,34,803
No. of shares as at 31/03/2024 44,39,103 44,39,103
% of total shares 27.90% 27.90%
% change during the year 103135% 103135%
10000 10000

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CIN:U74110HR2017PLC118029

3 Reserve and Surplus
Surplus in Statement of Profit and Loss:
Balance as at the beginning of the year 196.18 (49.92)
Less: Bonus Issue (500.00)
Add/(Less):Earlier year Adjustments (0.39) (1.00)
Add: Profit for the year 653.22 247.10
Balance as at the end of the year 349.00 196.18
Security Premium
Balance as at the beginning of the year -
Add: Addition during the year 6436.02
Less: IPO Expenses (1011.05)
Balance as at the end of the year 4825.97 -
Total 5174.97 196.18
Other Long Term Liabilities
Other Long term liabilities

- -
4 Long term provision
Provision for Gratuity 18.86

Provision for Leave Encashment 10.88
29.75 -
5 Short Term Borrowings
Short term borrowings - 15.73

- 15.73
6 Trade payables
Total outstanding dues of micro and small enterprises 5.40 1.08

Total outstanding dues of creditors other than micro and small enterprises 93.23 3.69
98.63 4.77
Aging of trade payables :

Outstanding for following periods from the due date
Particulars Less than 1 year 1-2 years 2-3 years More than 3 years
Undisputed dues
Micro and small enterprises 5.40 - -
Others than above (Gross) 129.44 - -

Less: TDS Recoverbale 36.21
Net Trade Payables 93.23
Disputed dues
Micro and small enterprises - - -
(-) (-) (-)

Others than above - - -
(-) (-) (-)
(Figures in brackets denote previous year figures)
7 Other current liabilities

Statutory dues 21.85 39.92
Payable on account of employees 65.77 -
Advance Received from Students 328.87 518.39
Expenses Payable 12.44 11.49
Director Imprest 2.07 4.75
Other Current Liability 200.00 -
630.99 574.55
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8 Short- term provisions
Provision for Tax 258.06 83.13

Provision on Refund 16.34 -
Provision for Gratuity 1.89 -
Provision for Leave Encashment 1.50 -
277.78 83.13
10 Non Current Investment
Investment in Unquoted Share:-

-Dataisgood (DIG) 760.95 -
760.95 -
11 Trade Receivables
Unsecured
- considered good 47.21 2.42
47.21 2.42
Aging of trade receivables :

Outstanding for following periods from due date
of payment*
Particulars
Not Due Less than 6 months 6 months-1 years 1-2 years
Undisputed trade receivables

considered good - 40.48 5.38 1.35
- - -
considered doubtful - - -
- - - -
Disputed trade receivables
considered good - - - -
- - - -
considered doubtful - - - -
- - - -
*Net of Provision
12 Cash and Cash Equivalents
Cash and cash equivalents:

Cash on hand 0.56 0.53
Balances with Bank
-In current accounts 4950.24 170.27
4950.80 170.80
13 Short-term loans and advances
Advance to Parties 3.22 0.21

3.22 0.21
14 Other current assets
Deferred Revenue Expenditure - 447.96

Unamortized IPO Expenses - -
Prepaid Expenses 116.91 228.83
Security deposits 65.92 4.26
182.83 681.04

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CIN:U74110HR2017PLC118029
For the year ended For the year ended

March 31st, 2024 March 31st, 2023
15 Revenue from operations
Sale of services- Domestic

Education and training programmes 6382.01 3335.26
Less: Provision on Refund (16.34)
Sale of services- Export 30.10 18.17

6395.77 3353.43
16 Other income
Interest Income 0.00 1.04

Interest on Income Tax Refund 0.14 -
Round Off 0.00 -
0.14 1.04
17 Cost of Services
Professional Expenses 669.50 568.57

International Software Technology 171.72 51.10
International Consultancy Charge 56.89 102.58
Material Printing & Delivery Cost 220.91 62.61
Payment Gateway Expenses 51.03 36.20
Training & Development Exp 3.85 7.27
Technical Charges 22.33 16.25
Website Maintenance 61.53 40.97
1257.76 885.55
18 Employees Benefit Expenses
Salary Expenses 591.31 116.72

Internship Stipend 73.26 52.56
Gratuity Expenses 20.76
Leave Enchashment 12.38
EPF Contribution 9.15 -
PF Handling Charges 0.54 -
Staff Welfare 45.93 20.09
753.32 189.37

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19 Depreciation and amortization expense
Depreciation on property, plant and equipment 10.72 9.51

Amortization of Intangible Assets 265.83
Amortization Expenses -
276.56 9.51
Finance Cost
- -
20 Other Expenses
Audit fees 7.80 1.20

Advertisement & Marketing Exp 1636.60 1209.27
Sales & Marketing Expenses 406.11 169.22
Blocked/ Unclaimed GST Input 361.65 160.09
Books & Periodicals 0.23 0.58
Business Promotion 35.13 12.46
Bank Charges & Commission 5.10 5.98
Community Building Expenses - -
Discount on Sale 3.45 -
Electricity & Water Expenses 5.13 0.97
Festival Expenses 6.79 -
Interest & Late Fees on GST 0.00 0.08
Interest on Income Tax 10.06 -
Interest on TDS 2.09 0.14
Legal & Professional Fees 90.53 102.76
Listing Expenses 31.22 -
Office Expenses 66.02 15.12
Postage & Courier 0.70 -
Printing & Stationary 1.03 2.03
Other Professional Charges 186.54 125.16
Software Renewal Charges 138.22 51.47
Rent 47.13 31.00
Repair & Maintenance- Computer 1.60 2.43
Repair & Maintenance- Other 4.94 7.13
ROC Expenses 17.54 -
Security Expenses 2.83 -
Short & Excess - 0.00
Staff Refreshment 18.16 7.02
Telephone & Internet Expenses 1.21 3.25
Tour & Travelling- Domestic 34.04 37.70
Tour & Travelling- Other than Domestic 7.30 -
3129.16 1945.07

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CIN:U74110HR2017PLC118029
Notes to Accounts
21 Earnings Per Share
Particulars 31-Mar-24 31-Mar-23

Net profit as per the statement of profit and loss 653.22 247.10
Weighted average number of equity shares outstanding during the year (No.) 121.10 110.00
Weighted average number of equity shares outstanding during the year (No.) for Diluted 121.10 111.00
Basic earnings per share (Rs) 5.39 2.25
Diluted earnings per share (Rs) 5.39 2.23
Nominal value per equity share (Rs.) 10 1
Note-:
1. March-23 Adjusted EPS is calculated by taking effect of Bonus Share and diluted is calculated by taking effect of Bonus Share and Optionally
Convertiable Preference Shares.
2. March-24 EPS is calculated by taking effect of consolidation of share and Bonus Share.
22 Defered Tax Calculation 31-Mar-24 31-Mar-23

WDV as per Companies Act 1917.22 22.23
WDV as per Income Tax 1724.39 499.98
Timining Difference 192.84 (477.75)
Provision on Refund 16.34

Deffered Revenue Expenditure - 447.96
Deferred Tax Liabilities 59.13

Deferred Tax Assets - 7.75
Current Year (66.88) 6.79
23 Related Party Disclosure

In accordance with the requirements of Accounting Standards (AS) -18 on Related Party Disclosures, the names of the related parties where control
exists and/or with whom transactions have taken place during the year and description of relationships, as identified and certified by the management
are :
a) Names of related party and relationship:
1. Shareholders having significant influence
Abhyudaya Agarwal
Ramanuj Mukherjee
2. Key managerial personnel :
Abhyudaya Agarwal
Ramanuj Mukherjee
b) Transactions with related parties 31-Mar-24 31-Mar-23

Unsecured Loan Nil Nil
Directors Remuneration 99.00 96.00
Consultancy Fees Nil Nil

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24 Supplementary Statutory Information
Nature of Transactions 31-Mar-24 31-Mar-23

Transaction During the Year
(a) Statutory Auditor's Fees 7.80 1.20
25 Dues to Micro and Small Enterprises, if any, have been determined to the extent such parties have been identified on the basis of information collected
by the Management.
26 Balances of Sundry Debtors and Sundry Creditors are subject to confirmation from respective parties and consequential reconciliation/adjustments
arising there-from, if any. The management however does not expect any material variation
27 Disclosure for retirement benefits

Defined contribution plans
The Company’s employee provident fund scheme is a defined contribution plan. A sum of
Defined benefit plans – Gratuity
Gratuity is payable to all eligible employees of the Company on superannuation, death or

Present value of obligations 20.76
Fair value of plan assets
(Assets)/Liability recognised in balance sheet (20.76)
Change in defined benefit obligations during the year

Present value of obligation at the beginning of the year -
Service cost 20.76
Interest cost -
Benefit paid -
Actuarial (gain)/loss on obligation -
Present value of obligation at end of the year 20.76
Changes in the fair value of the plan asset:

Fair value of the plan assets at the beginning of the period
Contributions 20.76
Benefits paid -
Expected return on plan assets -
Actuarial gain / (loss) on plan assets
Fair value of plan assets at end of period 20.76
-
-
Actuarial gain / loss recognized
Actuarial gain / (loss) for the period - obligation -
Actuarial gain / (loss) for the period – plan assets -
Total gain / (loss) for the period -
Actuarial gain / loss recognised in the period -
Unrecognized actuarial gains / losses -
-
-
Gratuity cost recognised in the Statement of Profit and Loss for the year
Service cost 20.76
Interest cost -
Actuarial (gain)/loss recognised in the period -
Net cost 20.76

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Bifurcation of defined benefit obligation as the year end as per revised schedule VI
Current liability 1.89
Non - current liability 18.86
Total obligation at year end 20.76
Assumptions
Discount rate 7.25%
Expected rate of salary increase 5.00%
Expected rate of return on plan assets 0.00%
Demographic assumptions
Retirement age 58 Years
Mortality IALM (2012- 14)
Withdrawal rate 10.00%
Defined benefit plans – Leave Enchashment

Gratuity is payable to all eligible employees of the Company on superannuation, death or permanent disablement, in terms of the provisions of the
Payment of Gratuity Act, 1972.

Service cost 12.38
Interest cost -
Benefit paid -

Contributions 12.38
Benefits paid -
Discount rate Discount rate
Expected rate of salary Expected rate of salary
increase increase

76 of 117
-
-
Service cost 12.38
Interest cost -
Net cost 12.38
Bifurcation of defined benefit obligation as the year end as per revised schedule VI
Assumptions
Discount rate 7.25%
28 Disclosure on significant ratios

Current Ratio 5.15 1.26
Debt-Equity Ratio - 0.08
Debt Service Coverage Ratio - -
Return on Equity 10% 120%
Inventory turnover ratio - -
Trade Receivables turnover ratio 135.48 1,384.24
Trade payables turnover ratio 12.75 185.50
Net capital turnover ratio 1.53 19.02
Net profit ratio 10% 7%
Return on Investment - -
Return on Capital employed 10% 111%

77 of 117
Methodology:
1. Current Ratio = Current Asset / Current Liability
2. Debt-Equity Ratio = Total Debt/ Total Shareholders’ Equity
3. Debt Service Coverage Ratio =Earnings before Interest, Tax and Exceptional Items /
Interest Expense + Principal Repayments made during the year
for long term loans
4. Return on Equity Ratio = Profit After Tax / Average Net Worth
5. Inventory Turnover Ratio = Cost of Goods Sold (Cost of Material Consumed + Purchases
+ Changes in Inventory + Manufacturing Expenses)/Average Inventories of Finished Goods,
Stock-in-Process and Stock-in-Trade
6. Trade Receivable Turnover Ratio = Value of Sales & Services / Average Trade Receivable
7. Trade Payable Turnover Ratio = Cost of Materials Consumed (after adjustment of RM
Inventory) + Purchases of Stock-in-Trade + Other Expenses / Average Trade Payable
8. Net Capital Turnover Ratio = Value of Sales & Services /Working Capital (Current Asset - Current Liability)
9. Net Profit Margin = Profit After Tax / Value of Sales & Services
10. Return on Investment = Other Income (Excluding Dividend) / Average Cash, Cash Equivalents & Other Marketable Securities
11. Return on Capital Employed = Net Profit After Tax^ + Deferred Tax Expense/(Income)
+ Finance Cost (-) Other Income / Average Capital Employed**
^Including Profit From Discontinued Operations

^^ Capital employed includes Equity, Borrowings, Deferred Tax Liabilities, Creditor for
Capital Expenditure and reduced by Investments, Cash and Cash Equivalents, Capital Work-
in-Progress and Intangible Assets under Development.
29 Previous year figures have been regrouped/rearranged wherever necessary.
Note 1 to 29 forms an integral part of the accounts and has been duly authenticated.
FRN: 020266N

Siddhant Singh Baid Komal Palak Shah

Place: Delhi CFO Company Secretary
Date:09-05-2024 PAN: AICPB2918A PAN: ACCPP5343H

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CIN:U74110HR2017PLC118029
NOTE-9 Property Plant and Equipments (Tangible & Intangible Assets)
Gross Assets Depreciation/ Amortisation Net Assets
Particulars Balance As At Deductions/ Balance As At Upto Upto As At As At

Additions For the Year
01.04.2023 Adjs 31.03.2024 01.04.2023 31.03.2024 31.03.2024 31.03.2023
Tangible Assets
Computer and Accessories 6.37 0.90 - 7.28 4.84 1.35 6.19 1.09 1.53
Furniture and Fixtures 9.29 - - 9.29 2.80 1.66 4.46 4.83 6.50
Office Equipments 19.61 6.87 - 26.48 10.35 6.17 16.52 9.96 9.26
Car 6.06 - - 6.06 1.12 1.55 2.67 3.39 4.94
Intangible Assets
Blog Consultancy Fees 161.41 161.41 25.84 25.84 135.57 -
Content creation and course development cost 1305.88 1305.88 178.92 178.92 1126.96 -
Tech Consultancy Fees 346.49 346.49 43.40 43.40 303.09 -
Community Building Expenses 350.00 350.00 17.68 17.68 332.32 -
TOTAL 41.34 2171.55 - 2212.89 19.11 276.56 295.67 1917.22 22.23

PREVOIUS YEAR 25.53 15.81 - 41.34 9.61 9.51 19.11 22.23 15.92

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INDEPENDENT AUDITOR’S REPORT
TO THE BOARD OF DIRECTORS OF ADDICTIVE LEARNING TECHNOLOGY
LIMITED
1. We have audited the accompanying statement of Consolidated Financial Results of
ADDICTIVE LEARNING TECHNOLOGY LIMITED (‘the Holding Company’) and its
subsidiary Dataisgood Edutech Private limited (the Holding Company and its subsidiaries
constitute “the Group”) for the period ended March 31, 2024 (‘the Statement’), being
submitted by the Holding Company,
2. This Statement, which is the responsibility of the Holding Company’s management and
approved by the Board of Directors, has been compiled from the related Consolidated
Financial Statements which have been prepared in accordance with the Accounting Standards
prescribed under section 133 of the Companies Act 2013, read with relevant rules issued
thereunder and other accounting principles generally accepted in India. Our responsibility is
to express an opinion on the Statement based on our audit of such Consolidated Financial
Statements.
3. We conducted our audit in accordance with the Standards on Auditing issued by the Institute
of Chartered Accountants of India. Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
the Statement is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosures in the Statement. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the Statement, whether due
to fraud or error. In making those risk assessments, the auditor considers internal financial
control relevant to the Holding Company’s preparation and fair presentation of the Statement
in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the Company’s internal financial
control. An audit also includes evaluating the appropriateness of the accounting policies used
and the reasonableness of the accounting estimates made by the Management, as well as
evaluating the overall presentation of the Statement.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide a
basis for our audit opinion.
4. In our opinion and to the best of our information and according to the explanations given to
us, and based on the consideration of the report of the other auditors on separate financial
statements and the other financial information of subsidiaries referred to in paragraph 5 below,
the Statement:
a) Includes the results of the following entities;
(i) Dataisgood Edutech Private limited
(ii) Dataisgood LLC (wholly owned subsidiary of Dataisgood Edutech
Private limited)
b) give a true and fair view in conformity with the aforesaid Accounting Standards and other
accounting principles generally accepted in India of the profit and other financial
information of the Group for the period ended March 31, 2024.

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5. The comparative financial information of the Group for the period ended March 31, 2024
prepared in accordance with Accounting Standards included in the Statement have been
audited by the predecessor auditor. Our opinion is not modified in respect of this matter.
For KRA & Co.

Gunjan Arora
Partner
UDIN: 24529042BKAMUL2619
Place: Delhi
Date: 09th May 2024

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CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67, Gurgaon, Haryana
122102, DLF QE, Gurgaon, Dlf Qe, Haryana, India, 122002
Consolidated Statement of Assets and Liabilities

Note As at March 31,
Particulars As at March 31, 2023
No. 2024
EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share capital 2 1590.97 10.10
(b) Reserves and surplus 3 5242.75 196.18
6833.73 206.28
Non-current liabilities
(a) Deferred tax liabilities 22 59.13
(b) Long term provision 4 29.75 -
88.88 -
Current liabilities
(a) Short Term Borrowings 5 - 15.73
(b) Trade payables 6
(A) Total outstanding dues of micro enterprises and small enterprises 5.40 1.08
(B) Total outstanding dues of Creditors other than micro enterprises and 93.23 3.69
small enterprises
(c) Other current liabilities 7 640.44 574.55
(d) Short-term provisions 8 278.38 83.13
1017.45 678.17
TOTAL 7940.05 884.45

ASSETS
Non-current assets
(a) Property, Plant and Equipment
(i) Tangible Assets 9 19.28 22.23
(ii) Intangible Assets 1897.94
Goodwill
(b) Non Current Investment 10 764.55
(c) Deferred Tax Assets 22 7.75
2681.77 29.98
Current assets
(a) Trade receivables 11 47.21 2.42
(b) Cash and cash equivalents 12 5023.86 170.80
(c) Short-term loans and advances 13 3.22 0.21
(d) Other Current Assets 14 184.00 681.04
5258.29 854.47
TOTAL 7940.06 884.45

(0.00) -
Significant Accounting Policies 1
The accompanying notes from 1 to 29 are integral part of the financial statements.
This is the Balance Sheet referred to in our audit report of even date.
FRN: 020266N

UDIN : 24529042BKAMUL2619

Date: 09 May 2024 CFO Company Secretary
PAN: AICPB2918A PAN: ACCPP5343H
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CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67,
Gurgaon, Haryana 122102, DLF QE, Gurgaon, Dlf Qe, Haryana, India, 122002
Consolidated Statement of Profit and loss

Particulars Note For the year ended For the year ended
No. March 31st, 2024 March 31st, 2023
Revenue from operations 15 6579.44 3353.43

Other income 16 4.11 1.04
Total income 6583.55 3354.47
Expenses
Cost of Services 17 1257.76 885.55
Employee benefits expense 18 754.14 189.37
Depreciation and amortization expense 19 276.56 9.51
Other expenses 20 3248.20 1945.07
Total expenses 5536.66 3029.50
PROFIT BEFORE TAX 1046.89 324.98
Tax expenses:
Current tax 259.01 84.67
Deferred tax 66.88 (6.79)
Total tax expense 325.90 77.88
PROFIT FOR THE YEAR 721.00 247.10
Earnings per Equity share [Nominal value per share 21

Rs.10 (2023: Rs.1)]
Basic (Rs.) 5.95 2.25
Diluted (Rs.) 5.95 2.23
The accompanying notes are an integral part of these financial statements.
This is the Statement of Profit and Loss referred to in our report of even date
FRN: 020266N



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CIN:U74110HR2017PLC118029
Regd. Office : Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course Extension, Sector 67, Gurgaon, Haryana 122102, DLF QE,
Gurgaon, Dlf Qe, Haryana, India, 122002
Consolidated Statement of Cash Flow
For the year ended March 31st, 2024 For the year ended March 31st, 2023
Particulars
A Cash flow from operating activities

Profit before tax 1046.89 324.98
Adjustment to reconcile profit before tax to net cash flows
Depreciation / amortization expenses 276.56 9.51
Interest income (0.14) (1.04)
Interest on loan - -
Operating profit before working capital changes 1323.32 333.44
Movements in working capital :
(Increase) / decrease in trade receivables (44.79) (2.41)
(Increase) / decrease in other current assets 497.04 (657.46)
(Increase) / decrease in Short-term loans and advances (3.01) 33.02
Increase / (decrease) in trade payables 93.85 (90.96)
Increase / (decrease) in other current liabilities 65.89 526.35
Increase / (decrease) in short term provisions 225.01 83.52
Net cash flow (used in) operations 2157.31 225.50
Less: Direct taxes paid Including Advance taxes (259.40) (86.07)
Net cash flow (used in) operating activities (A) 1897.91 139.43
B Cash flows from investing activities

Purchase of Invesments -
Goodwill on account of Consolidation of Subsidiary (764.55)
Purchase of fixed assets (2171.55) (15.81)
Sale of Fixed Assets
Interest received 0.14 1.04
Net cash flow (used in)/ generated from investing activities (B) (2935.96) (14.77)
C Cash flows from financing activities

Other Non- Current Liabilities -
Proceeds from Share Issued 6917.89
Proceeds/ (repayments) from/ of borrowings (15.73) 15.73
IPO Expenses Paid (1011.05)
Foreign Exchange Gain
Interest paid on loan - -
Net cash flow from/ (used in) in financing activities (C) 5891.11 15.73
Net increase/(decrease) in cash and cash equivalents (A + B + C) 4853.05 140.39
Cash and cash equivalents at the beginning of the year 170.80 30.41
Cash and cash equivalents at the end of the year 5023.86 170.80
Notes to cash flow statement
1. Components of cash and cash equivalents :

As at As at
31 March 2023 31 March 2023
Cash in hand 0.56 0.53

Balances with banks:
- On current accounts 5023.30 170.27
5023.86 170.80
FRN: 020266N



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1. General Information
Addictive Learning Technology Limited (the “Company”) (formerly known as Addictive Learning Technology Private Limited) was incorporated on September 12, 2017 under the Indian Companies
Act, 2013. The Company is mainly in the business of providing consultancy education services such as Law, Management Studies, Online Education, Personality Development Program etc.
Summary of significant accounting policies
(i) Basis of preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. These financial
statements have been prepared to comply in all material aspects with the accounting standards notified under Companies (Accounting Standards) Rules, 2021, specified under section 133 and
other relevant provisions of the Companies Act, 2013.
All assets and liabilities have been classified as current / non-current as per the Company’s normal operating cycle and other criteria set out in the Schedule III (Division I) to the Companies
Act, 2013. Based on the nature of services and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its
operating cycle as 12 months for the purpose of current / non current classification of assets and liabilities.
(ii) Property, plant and equipment

Property, plant and equipment are stated at cost of acquisition less accumulated depreciation. The cost of acquisition includes purchase price and any other directly attributable costs of bringing
the assets to their working condition for intended use.
Depreciation on fixed assets is provided on written down value method over the useful life as estimated by the management. The useful lives of assets are in line with the useful lives prescribed
under Part C of Schedule II to the Companies Act, 2013. The existing
realisable values of fixed assets is 5% as prescribed under Part C of Schedule II to the Companies Act, 2013.
Depreciation on additions/ deletions is provided on pro-rata basis from the date of acquisition/sale.
Assets Useful life

Computer Systems 3 years
Office Equipments 5 years
Furniture & Fixtures 10 years
The depreciation charge for each period is recognised in the Statement of Profit and Loss, unless it is included in the carrying amount of any other asset. The useful life, residual value and the
depreciation method are reviewed at each financial year end. If the expectations differ from previous estimates the changes are accounted for prospectively as a change in accounting estimates.
(iii) Revenue recognition

Revenue from services is recognized based on services rendered on a cost plus basis in accordance with terms of the master services agreements entered into by the Company with its customers
and is net of goods and services tax (GST). Revenue in excess of billings on service contracts is recorded as unbilled revenue and is included in Trade receivables.
Interest: Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.
Income from export incentives is recognised when the application is filed with the government authority and when it is reasonable certain that ultimate collection will be made.
(iv) Foreign currency translation

Initial Recognition:
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at
the date of the transaction.
Subsequent Recognition:
As at the reporting date, 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.
All monetary assets and liabilities in foreign currency are restated at the rates ruling at the end of accounting period. Exchange differences arising therefrom are recognized in the Statement of
Profit and Loss.

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(v) Current and deferred tax
Tax expense for the period, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period. Current tax is measured at the amount expected to
be paid to the tax authorities in accordance with the taxation laws prevailing in the respective jurisdictions.
Deferred tax is recognised for all the timing differences, subject to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recognised and carried forward only to
the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.
Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. In situations, where the Company has
unabsorbed depreciation or carry forward losses under tax laws, all deferred tax assets are recognised only to the extent that 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, if any.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle the assets and the liability on
net basis. Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to set off assets against liabilities representing current tax and where the deferred tax
assets and deferred tax liabilities relate to taxes on income levied by the same governing taxation laws.
(vi) 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. Earnings considered in ascertaining the Company’s earnings per share is the net profit for 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 shares, other than the conversion of potential equity 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 period attributable to equity shareholders and the weighted average
number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.
(vii) Use of estimates

The preparation of financial statements in conformity with the Generally Accepted Accounting Principles ("GAAP") in India, requires management to make estimates and assumptions that
affect the amounts reported for assets and liabilities including the recoverability of Property, plant and equipment and intangible assets, disclosure of contingent liabilities as at the date of the
financial statements and the date of the financial statements and the reported amounts of income and expenses during the reported period. On an on-going basis, management evaluates the
estimates.
The most significant estimates relate to provision for expenses related to income taxes, contingencies and litigations, employee benefits and useful life of assets. Management bases its estimates
on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which, form the basis for making judgments about the
carrying values of assets and liabilities that are not readily apparent from other sources. The actual amounts may differ from the estimates used in the preparation of the financial statements.
(viii) Provisions and contingent liabilities

Provisions: Provisions are recognized when the Company has a present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate of the amount of the obligation can be made. Provisions are measured at the best estimate of the expenditure required to settle the present
obligation at the Balance sheet date and are not discounted to its present value.
Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non
occurrence of one or more uncertain future events not wholly within the obligation that arises from 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.
(ix) Cash and cash equivalents

Cash and cash equivalents includes cash in hand, demand deposits with banks with original maturities of three months or less.

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2 Share Capital
Authorized
1,80,00,000 (2023: 100,000) Equity Shares of Rs.10 each 1800.00 1.00
100,000 (2023: Nil) 0.0001% Optionally Convertiable Preference Shares of Rs.10 each 10.00 10.00
2500 (2023: Nil) Compulsorily Convertiable Preference Shares of Rs.10 each 0.25 0.25
1810.25 11.25
Issued, Subscribed and Paid up

1,59,09,732 (2023: 10,000) Equity Shares of Rs.10 each fully paid up 1590.97 0.10
100,000 (2023: Nil) 0.0001% Optionally Convertiable Preference Shares of Rs.10 each - 10.00
1590.97 10.10
(i) Reconciliation of number of shares outstanding at the beginning and at the end of year:
For the year ended March For the year ended March
Equity Shares 31st, 2024 31st, 2023
Balances at the beginning of the year 10,000 0.10 10,000 0.10
Movement during the year - -
Consolidation of Shares (9,000) -
Bonus Shares 1,09,90,009 1099.00
Private Placement 7,75,473 77.55
Initial Public Offer 41,37,000 413.70
Convertiable Preference Shares 6,250 0.63
Balance outstanding as at the end of the year 1,59,09,732 1590.97 10,000 0.10
For the year ended March For the year ended March
Preference Shares (0.001% Optionally Convertiable Preference Shares) 31st, 2024 31st, 2023
Balances at the beginning of the year 1.00 10.00 - -
Movement during the year (1.00) (10.00) 1.00 10.00
Balance outstanding as at the end of the year - - 1.00 10.00
(ii) Rights, preferences and restrictions attached to shares:

Equity Shares-
The Company has one class of equity shares having a par value of Rs.10 per share (Last year par value is Rs.1 per share and then Equity share capital of
the company is consolidated from Rs. 1/- per equity share to Rs. 10/- per equity share by passing an Ordinary Resolution in a duly convened Annual
General Meeting held on September 19,2023). Each shareholder is eligible for one vote per share held. The dividend, if proposed by the Board of
Preference Shares-
As on March 31, 2024, there is no Preference share capital. The Company had issued 0.0001% Optionally Convertiable Preference Shares of Rs.10 per
share which are eligible for 0.0001% dividend and voting rights which are available to Preference Shareholders under the Companies Act, 2013,
however, they are not eligible for voting rights on other matters. In the event of liquidation, the equity shareholders are eligible to receive the remaining
(iii) Details of shares held by shareholders holding more than 5% of the aggregate shares in the company
Equity Shares No. of Shares % of Holding No. of Shares % of Holding
Abhyudaya Agarwal 44,39,103.00 27.90% 0.05 48%
Ramanuj Mukherjee 44,39,103.00 27.90% 0.05 48%
0.0001% Preference Shares

Ajeet Singh Khurana - 0% 1.00 100%
(iv) Details of promoters’ shareholding

Abhyudaya Ramanuj
Agarwal Mukherjee
No. of shares as at 01/04/2022 0.05 0.05
Change during the year (0.01) (0.01)
No. of shares as at 31/03/2023 0.04 0.04
% of total shares 43% 43%
% change during the year -10% -10%
No. of shares as at 01/04/2023 0.04 0.04
Change during the Period 44.35 44.35
No. of shares as at 31/08/2023 44.39 44.39
% of total shares 27.90% 27.90%
% change during the year 1,031.35 1,031.35
10000 10000

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As at March 31, As at March 31,
2024 2023
3 Reserve and Surplus
Surplus in Statement of Profit and Loss:
Balance as at the beginning of the year 196.18 (49.92)
Add/(Less):Earlier year Adjustments (0.39) (1.00)
Add: Profit for the year 721.00 247.10
Balance as at the end of the year 416.79 196.18
Security Premium
Balance as at the beginning of the year -
Add: Addition during the year 6436.02
Less: IPO Expenses (1011.05)
Balance as at the end of the year 4825.97 -
Total 5242.75 196.18
Other Long Term Liabilities
Other Long term liabilities

- -
4 Long term provision

29.75 -
5 Short Term Borrowings
Short term borrowings - 15.73

- 15.73
6 Trade payables
Total outstanding dues of micro and small enterprises 5.40 1.08

Total outstanding dues of creditors other than micro and small enterprises 93.23 3.69
98.63 4.77

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Aging of trade payables :
Particulars Less than 1 year 1-2 years 2-3 years More Than 3
years
Undisputed dues
Micro and small enterprises 5
Others than above (Gross) 129.44

Less: TDS Recoverbale 36.21
Net Trade Payables 93.23
Disputed dues
Micro and small enterprises -
Others than above
7 Other current liabilities

Statutory dues 31.22 39.92
Payable on account of employees 65.77 -
Advance Received from Students 328.87 518.39
Expenses Payable 12.44 11.49
Director Imprest 2.07 4.75
Other Current Liability 200.08 -
640.44 574.55
8 Short- term provisions
Provision for Tax 258.06 83.13

Provision on Refund 16.34 -
Provision for Gratuity 1.89 -
Provision for Auditor's Remuneration 0.60
Provision for Leave Encashment 1.50 -
278.38 83.13

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Non Current Investment
Investment in Unquoted Share:-

Investment in DataisGood LLC, Delaware USA
-Dataisgood (DIG) - -
- -
10 Goodwill
Investment in Dataisgood (DIG) 760.95
760.95 -
Equity share capital in Dataisgood (DIG) 1.00
Reserve and Surplus (4.52)
Goodwill In subsidiary of Dataisgood (DIG) (0.08)
(3.60) -
764.55
11 Trade Receivables
Unsecured
- considered good 47.21 2.42
47.21 2.42
Aging of trade receivables :

Particulars Less than 6 6 months-1 years 1-2 years More than 3
months years
Undisputed trade receivables
considered good 40.48 5.38 1.35
considered doubtful
Disputed trade receivables

considered good
considered doubtful
12 Cash and Cash Equivalents
Cash and cash equivalents:

Cash on hand 0.56 0.53
Balances with Bank
-In current accounts 5023.30 170.27
5023.86 170.80
13 Short-term loans and advances
Advance to Parties 3.22 0.21

3.22 0.21
14 Other current assets
Deferred Revenue Expenditure - 447.96

Unamortized IPO Expenses - -
TDS Receivable 1.17
Prepaid Expenses 116.91 228.83
Security deposits 65.92 4.26
184.00 681.04

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For the year ended For the year ended

March 31st, 2024 March 31st, 2023
15 Revenue from operations
Sale of services- Domestic

Education and training programmes 6565.68 3335.26
Less: Provision on Refund (16.34)
Sale of services- Export 30.10 18.17

6579.44 3353.43
16 Other income
Interest Income 0.00 1.04

Forex Gain 3.97
Interest on Income Tax Refund 0.14 -
Round Off 0.00 -
4.11 1.04
17 Cost of Services
Professional Expenses 669.50 568.57

International Software Technology 171.72 51.10
International Consultancy Charge 56.89 102.58
Material Printing & Delivery Cost 220.91 62.61
Payment Gateway Expenses 51.03 36.20
Training & Development Exp 3.85 7.27
Technical Charges 22.33 16.25
Website Maintenance 61.53 40.97
1257.76 885.55
18 Employees Benefit Expenses
Salary Expenses 591.60 116.72

Internship Stipend 73.26 52.56
Gratuity Expenses 20.76
Leave Enchashment 12.38
EPF Contribution 9.15 -
PF Handling Charges 0.54 -
Staff Welfare 46.45 20.09
754.14 189.37

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19 Depreciation and amortization expense
Depreciation on property, plant and equipment 10.72 9.51

Amortization of Intangible Assets 265.83
Amortization Expenses -
276.56 9.51
Finance Cost
- -
20 Other Expenses
Audit fees 7.80 1.20

Advertisement & Marketing Exp 1730.62 1209.27
Sales & Marketing Expenses 406.11 169.22
Blocked/ Unclaimed GST Input 361.65 160.09
Books & Periodicals 0.23 0.58
Business Promotion 35.13 12.46
Bank Charges & Commission 5.19 5.98
Community Building Expenses - -
Discount on Sale 3.45 -
Electricity & Water Expenses 5.15 0.97
Festival Expenses 6.79 -
Interest & Late Fees on GST 0.00 0.08
Interest on Income Tax 10.06 -
Interest on TDS 2.09 0.14
Legal & Professional Fees 90.53 102.76
Listing Expenses 31.22 -
Office Expenses 66.13 15.12
Postage & Courier 0.70 -
Printing & Stationary 1.49 2.03
Other Professional Charges 186.54 125.16
Software Renewal Charges 147.23 51.47
Rent 55.26 31.00
Repair & Maintenance- Computer 3.03 2.43
Repair & Maintenance- Other 4.94 7.13
ROC Expenses 17.54 -
Security Expenses 3.10 -
Short & Excess - 0.00
Staff Refreshment 18.16 7.02
Telephone & Internet Expenses 6.71 3.25
Tour & Travelling- Domestic 34.04 37.70
Tour & Travelling- Other than Domestic 7.30 -
3248.20 1945.07

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Notes to Accounts
21 Earnings Per Share

Net profit as per the statement of profit and loss 721.00 247.10
Weighted average number of equity shares outstanding during the year (No.) 121.10 110.00
Weighted average number of equity shares outstanding during the year (No.) for Diluted 121.10 111.00
Basic earnings per share (Rs) 5.95 2.25
Diluted earnings per share (Rs) 5.95 2.23
Nominal value per equity share (Rs.) 10 1
Note-:
1. March-23 Adjusted EPS is calculated by taking effect of Bonus Share and diluted is calculated by taking effect of Bonus Share and
Optionally Convertiable Preference Shares.
2. March-24 EPS is calculated by taking effect of consolidation of share and Bonus Share.
22 Defered Tax Asset Calculation 31-Mar-24 31-Mar-23

WDV as per Companies Act 1917.22 22.23
WDV as per Income Tax 1724.39 499.98
Provision on Refund 16.34

Deffered Revenue Expenditure - 447.96
Deferred Tax Liabilities 59.13

Deferred Tax Assets - 7.75
Current Year (66.88) 6.79
23 Related Party Disclosure

In accordance with the requirements of Accounting Standards (AS) -18 on Related Party Disclosures, the names of the related parties where
control exists and/or with whom transactions have taken place during the year and description of relationships, as identified and certified by
the management are :
a) Names of related party and relationship:
1. Shareholders having significant influence
Abhyudaya Agarwal
Ramanuj Mukherjee
2. Key managerial personnel :
Abhyudaya Agarwal
Ramanuj Mukherjee

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b) Transactions with related parties 31-Mar-24 31-Mar-23
Unsecured Loan Nil
Directors Remuneration 96.00
Consultancy Fees Nil
24 Supplementary Statutory Information
Nature of Transactions 31-Mar-24 31-Mar-23

Transaction During the Year
(a) Statutory Auditor's Fees 5.40 1.20
25 Dues to Micro and Small Enterprises, if any, have been determined to the extent such parties have been identified on the basis of information
collected by the Management.
26 Balances of Sundry Debtors and Sundry Creditors are subject to confirmation from respective parties and consequential
reconciliation/adjustments arising there-from, if any. The management however does not expect any material variation
27 Disclosure for retirement benefits

Defined contribution plans
The Company’s employee provident fund scheme is a defined contribution plan. A
Defined benefit plans – Gratuity
Gratuity is payable to all eligible employees of the Company on superannuation,


Service cost 20.76
Interest cost -
Benefit paid -

Contributions 20.76
Benefits paid -
-
-

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-
-
Service cost 20.76
Interest cost -
Net cost 20.76
Bifurcation of defined benefit obligation as the year end as per revised

schedule VI
Assumptions
Discount rate 7.25%
Defined benefit plans – Leave Enchashment

Gratuity is payable to all eligible employees of the Company on superannuation, death or permanent disablement, in terms of the provisions of
the Payment of Gratuity Act, 1972.
31-Mar-24 31-Mar-23

Service cost 12.38
Interest cost -
Benefit paid -

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Contributions 12.38
Benefits paid -
Discount rate Discount rate
Expected rate of salary Expected rate of salary
increase increase
-
-
Service cost 12.38
Interest cost -
Net cost 12.38
Bifurcation of defined benefit obligation as the year end as per revised

schedule VI
Assumptions
Discount rate 7.25%
28 Disclosure on significant ratios

Current Ratio 5.17 1.26
Debt-Equity Ratio - 0.08
Debt Service Coverage Ratio - -
Return on Equity 11% 120%
Inventory turnover ratio - -
Trade Receivables turnover ratio 139.37 1,384.24
Trade payables turnover ratio 12.75 185.50
Net capital turnover ratio 1.55 19.02
Net profit ratio 11% 0.07
Return on Investment - -
Return on Capital employed 11% 111%

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Methodology:
1. Current Ratio = Current Asset / Current Liability
2. Debt-Equity Ration = Total Debt / Equity
3. Debt Service Coverage Ratio = EBITDA / Finance Cost
4. Return on Equity Ratio = Profit After Tax / Total Equity
5. Inventory Turnover Ratio = Purchase / Inventory
6. Trade Receivable Turnover Ratio = Revenue from Operations / Trade Receivable
7. Trade Payable Turnover Ratio = Purchase / Trade Payable
8. Net Capital Turnover Ratio = Revenue from Operations / (Current Asset - Current Liability)
9. Net Profit Ratio = Profit After Tax / Revenue from Operations
10. Return on Investment = Net income on investment / Cost of Investment
11. Return on Capital Employed = Profit After tax / (Total Equity + Total Debt)
29 Previous year figures have been regrouped/rearranged wherever necessary.
Note 1 to 29 forms an integral part of the accounts and has been duly authenticated.
FRN: 020266N



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NOTE-9 Property Plant and Equipments (Tangible & Intangible Assets)
Gross Assets Depreciation/ Amortisation Net Assets
Particulars Balance As At Deductions/ Balance As At Upto Upto As At As At

Additions For the Year
01.04.2023 Adjs 31.03.2024 01.04.2023 31.03.2024 31.03.2024 31.03.2023
Tangible Assets
Computer and Accessories 6.37 0.90 - 7.28 4.84 1.35 6.19 1.09 1.53
Furniture and Fixtures 9.29 - - 9.29 2.80 1.66 4.46 4.83 6.50
Office Equipments 19.61 6.87 - 26.48 10.35 6.17 16.52 9.96 9.26
Car 6.06 - - 6.06 1.12 1.55 2.67 3.39 4.94
Intangible Assets
Blog Consultancy Fees 161.41 161.41 25.84 25.84 135.57 -
Content creation and course development cost 1305.88 1305.88 178.92 178.92 1126.96 -
Tech Consultancy Fees 346.49 346.49 43.40 43.40 303.09 -
Community Building Expenses 350.00 350.00 17.68 17.68 332.32 -
TOTAL 41.34 2171.55 - 2212.89 19.11 276.56 295.67 1917.22 22.23

PREVOIUS YEAR 25.53 15.81 - 41.34 9.61 9.51 19.11 22.23 15.92

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(formerly Addictive Learning Technology Private Limited)
(CIN: L74110HR2017PLC118029)
Registered office: Space Creattors Heights, 3rd floor, Landmark Cyber Park, Golf Course
Extension, Sector 67, Gurgaon, Haryana India, 122002
Ph. No.: 01243531246, E-mail: compliance@lawsikho.in
NOTICE
Notice is hereby given that the 7th Annual General Meeting of the members of Addictive
Learning Technology Limited (previously known as “Addictive Learning Technology Private
Limited”) will be held on Monday, 30th September, 2024 at 11.00 A.M. through video
conferencing/ other audio-visual means to transact the following business:
ORDINARY BUSINESS:
1. Consideration and Adoption of the Audited Standalone Financial Statements of

the Company for the Financial year ended 31st March 2024 and the Reports of
the Board of Directors and Auditors thereon
To consider and, if thought fit, to pass the following resolution as an Ordinary

Resolution:
“RESOLVED THAT the Audited Standalone Financial Statements of the Company for
the Financial Year ended March 31, 2024 together with the Reports of the Board of
Directors and Auditors thereon, as circulated to the Members, be and are hereby
considered and adopted.”
2. Consideration and Adoption of the Audited Consolidated Financial Statements

of the Company for the Financial year ended 31st March 2024 and the Report of
the Auditors thereon

Resolution:
“RESOLVED THAT the Audited Consolidated Financial Statements of the Company

for the financial year ended March 31, 2024 together with the report of the Auditors
thereon, as circulated to the Members be and are hereby considered and adopted.”
3. Re-appointment of Mr. Abhyudaya Agarwal (DIN: 05016416) as a Director liable

to retire by rotation

Resolution:

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(CIN: L74110HR2017PLC118029)
“RESOLVED THAT, pursuant to the provisions of the Section 152 of the Companies
Act, 2013, Mr. Abhyudaya Agarwal (DIN: 05016416), who retires by rotation at this
meeting and being eligible for re-appointment, be and is hereby re-appointed as a
director of the Company, liable to retire by rotation.”

(Formerly Addictive Learning Technology Private Limited)
Komal Shah
Company Secretary and Compliance Officer
Date: 6th September, 2024
Place: Mumbai

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(CIN: L74110HR2017PLC118029)
NOTES:
1. Pursuant to General Circular No. 20/2020 dated 5th May 2020 read with other
relevant circulars including 09/2023 dated 25th September 2023 issued by the
Ministry of Corporate Affairs (‘MCA’) (collectively referred to as ‘MCA
Circulars’), the Company is convening the Annual General Meeting (‘AGM’)
through Video Conferencing (‘VC’) / Other Audio-Visual Means (‘OAVM’),
without the physical presence of the members. The deemed venue for the AGM
will be the registered office of the Company.
2. The details for the director seeking appointment / re-appointment at the AGM,
pursuant to Regulation 36(3) of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (‘the SEBI Listing
Regulations’) and Paragraph 1.2.5 of the Secretarial Standard on general meetings
issued by the Institute of Company Secretaries of India are annexed as Annexure I
and forms part of this notice.
3. Pursuant to the provisions of the Companies Act, 2013 (the ‘Act’) , a member entitled
to attend and vote at the AGM is entitled to appoint one or more proxies to attend and
vote instead of himself / herself and the proxy need not be a member of the company.
Since this AGM is being held pursuant to the MCA Circulars through VC /OAVM, the
physical attendance of members has been dispensed with. Accordingly, the facility for
the appointment of proxies by the members will not be available for this AGM and
hence the proxy form, attendance slip and route map for the AGM are not annexed to
this notice.
4. Institutional members are encouraged to attend and vote at this AGM through VC
/OAVM. Institutional / corporate shareholders (i.e., other than individuals / HUF, NRI,
etc.) are required to send a scanned copy (PDF / JPG Format) of its’ board of
directors or governing body resolution / authorization etc., authorising its
representative to attend the AGM through VC / OAVM or to vote through remote
e-voting. The said resolution /authorization shall be sent to the scrutinizer by email
through its registered email address to vivekrawal89@gmail.com with a copy marked
to evoting@nsdl.com.
5. Members attending the AGM through VC / OAVM shall be counted for the purpose of
reckoning the quorum under Section 103 of the Act.
6. The Members can join the AGM in the VC/OAVM mode 15 minutes before and after
the scheduled time of the commencement of the Meeting by following the procedure

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(CIN: L74110HR2017PLC118029)
mentioned in the Notice. The facility of participation at the AGM through VC/OAVM
will be made available to at least 1000 members on a first come first served basis.
This will not include large Shareholders (Shareholders holding 2% or more
shareholding), Promoters, Institutional Investors, Directors, Key Managerial
Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration
Committee and Stakeholders Relationship Committee, Auditors etc. who are allowed
to attend the AGM without restriction on account of first come first served basis.
7. In accordance with MCA Circulars and SEBI Circulars, the notice of the AGM along
with the annual report for FY 2023-24 shall be sent by electronic mode to those
members whose email addresses are registered with the company / depository
participants, unless any member has requested a physical copy of the same. The
Company shall send a physical copy of the Annual Report to those members who
request for the same at compliance@lawsikho.in mentioning their Folio No./DP ID
and Client ID. Members may note that the notice and annual report 2023-24 will also
be available on the Company’s website at www.lawsikho.com, websites of the Stock
Exchange i.e., National Stock Exchange of India Limited (NSE) at www.nseindia.com
and on the website of CDSL at www.evoting.cdsl.com.
8. In view of the ‘Green Initiatives in Corporate Governance’ introduced by MCA and in

terms of the provisions of the Companies Act, 2013, members who are holding
shares of the Company in physical mode, are required to register their email
addresses, so as to enable the Company to send all notices/ reports/
documents/intimations and other correspondences, etc., through emails in the
electronic mode instead of receiving physical copies of the same. Members holding
shares in dematerialized form, who have not registered their email addresses with
Depository Participant(s), are requested to register /update their email addresses with
their Depository Participant(s).
9. In the case of joint holders, the member whose name appears as the first holder in
the order of names as per the register of members of the Company will be entitled to
vote at the AGM.
10. Members holding shares in dematerialized form are requested to intimate all changes
pertaining to their bank details, mandates, nominations, power of attorney, change of
address, change of name and email address, etc., to their Depository Participants
only.
11. SEBI has established a common Online Dispute Resolution Portal (‘ODR Portal’) for
resolution of disputes arising in the Indian securities market. Pursuant to this, post

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exhausting the option to resolve their grievance with the RTA / Company directly and
through existing SCORES platform, the investors can initiate dispute resolution
through the ODR Portal (https://smartodr.in/login) and the same can also be
accessed through the Company’s website www.lawsikho.com.
12. The format of the register of members prescribed by the MCA under the Act requires
the Company / Registrars and Share Transfer Agents to record additional details of
members, including their PAN details, email address, bank details for payment of
dividend, etc. This request should be submitted in Form ISR-1.
13. The relevant documents referred to in the notice are available for inspection and the
members who wish to inspect the same can send an email to
compliancce@lawsikho.com up to the date of this AGM
14. During the AGM, members may access the electronic copy of the register of directors
and Key Managerial Personnel (‘KMP’) and their shareholding maintained under
Section 170 of the Act, the register of contracts and arrangements in which directors
are interested maintained under Section 189 of the Act, by sending an email to
compliance@lawsikho.com.
15. . The remote e-voting period commences on Friday 27th September, 2024 (9.00
A.M. IST) to Sunday 29th September, 2024 (5.00 P.M. IST). During this period,
members of the Company holding shares as on cut-off date i.e. Monday, 23rd
September, 2024 may cast their vote electronically. The remote e-voting module
shall be disabled by CDSL for voting thereafter. Once the vote on a resolution is cast
by the member, he / she shall not be allowed to change it subsequently. The voting
rights of members (for voting through remote e-voting before the AGM and remote
e-voting during the AGM) shall be in proportion to their shares held in the paid-up
equity share capital of the Company as on the cut-off date i.e., Monday, 23rd
September, 2024.
16. Members will be provided with the facility for voting through electronic voting system
during the VC / OAVM at the AGM and members participating at the AGM, who have
not already cast their votes on the resolutions through remote e-voting and are
otherwise not barred from doing so, will be eligible to exercise their right to vote
during such proceedings of the AGM. Members who have cast their vote by remote
e-voting prior to the AGM may also attend / participate in the AGM through VC /
OAVM but shall not be entitled to cast their vote again.

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17. A person, whose name is recorded in the register of members or in the register of
beneficial owners maintained by the depositories as on the cut-off date only shall be
entitled to avail the facility of remote e-voting before the AGM as well as remote
e-voting during the AGM. Any person who is not a member as on the cut-off date
should treat this notice for information purposes only. Any person holding shares and
non-individual shareholders, who acquire shares of the Company and become a
member of the Company after sending the notice and holding shares as of the cut-off
date, may obtain the login ID and password by sending a request to
evoting@cdsl.com. However, if he / she is already registered with CDSL for remote
e-voting then he / she can use his / her existing User ID and Password for casting the
vote.
18. The Chairman shall, at the AGM, allow voting by use of the remote e-voting system
for all those members who are present during the AGM through VC / OAVM but have
not cast their votes by availing the remote e-voting facility before the AGM. The
remote e-voting module during the AGM shall be disabled by CDSL for voting 15
minutes after the conclusion of the AGM.
19. The Register of Members and Share Transfer Books of the Company will remain
closed from Tuesday 24th September 2024 to Monday 30th September 2024
(both days inclusive).
20. Mr. Vivek Rawal, Proprietor of M/s. Rawal & Co., Company Secretaries Firm,
have been appointed as the Scrutinizer to scrutinize the remote e-voting before and
during the AGM, in a fair and transparent manner.
21. The scrutinizer shall, immediately after the conclusion of remote e-voting at the AGM,
unblock the votes cast through remote e-voting (votes cast during the AGM and at
the AGM) and make, not later than two working days of conclusion of the AGM, a
consolidated Scrutinizer’s report of the total votes cast in favour or against, if any, to
the Chairman or a person authorized by him in writing, who shall countersign the
same.
22. The results declared along with the Scrutinizer’s Report shall be placed on the
Company’s website www.lawsikho.com and on the website of CDSL
www.evoting.cdsl.com immediately after the results are declared and the same shall
be communicated to the National Stock Exchange of India Limited, where the shares
of the Company are listed.

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23. Subject to the receipt of the requisite number of votes, the resolutions forming part of
the AGM Notice shall be deemed to have been passed on the date of the AGM
i.e.,30th September, 2024.
24. Instructions for Members for remote e-voting and joining the AGM through VC /
OAVM are annexed as Annexure II and forms part of this Notice.
THE INSTRUCTIONS OF SHAREHOLDERS FOR E-VOTING AND JOINING VIRTUAL

MEETINGS ARE ASUNDER:
Step 1 : Access through Depositories CDSL/NSDL e-Voting system in case of individual

shareholders holding shares in demat mode.
Step 2 : Access through CDSL e-Voting system in case of shareholders holding shares in
physical mode and non-individual shareholders in demat mode.
(i) The remote e-voting period commences on Friday 27th September, 2024 (9.00 A.M.
IST) to Sunday 29th September, 2024 (5.00 P.M. IST). During this period shareholders of
the Company, holding shares either in physical form or in dematerialized form, as on the
cut-off date (record date) of Monday, 23rd September, 2024 may cast their vote
electronically. The e-voting module shall be disabled by CDSL for voting thereafter.
(ii) Shareholders who have already voted prior to the meeting date would not be entitled to
vote at the meeting venue.
(iii) Pursuant to SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 09.12.2020,

under Regulation 44 of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, listed entities are required to provide remote
e-voting facility to its shareholders, in respect of all shareholders’ resolutions. However, it has
been observed that the participation by the public non-institutional shareholders/retail
shareholders is at a negligible level.
Currently, there are multiple e-voting service providers (ESPs) providing e-voting facility to
listed entities in India. This necessitates registration on various ESPs and maintenance of
multiple user IDs and passwords by the shareholders.
In order to increase the efficiency of the voting process, pursuant to a public consultation, it
has been decided to enable e-voting to all the demat account holders, by way of a single
login credential, through their demat accounts/ websites of Depositories/ Depository
Participants. Demat account holders would be able to cast their vote without having to

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register again with the ESPs, thereby, not only facilitating seamless authentication but also
enhancing ease and convenience of participating in e-voting process.
Step 1 : Access through Depositories CDSL/NSDL e-Voting system in case of individual

shareholders holding shares in demat mode.
(i) In terms of SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9,

2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding
securities in demat mode are allowed to vote through their demat account maintained with
Depositories and Depository Participants. Shareholders are advised to update their mobile
number and email Id in their demat accounts in order to access e-Voting facility.
Pursuant to above said SEBI Circular, Login method for e-Voting and joining virtual meetings
for Individual shareholders holding securities in Demat mode CDSL/NSDL is given below:
Type of shareholders Login Method
Individual Shareholders holding 1) Users who have opted for CDSL Easi /Easiest
securities in Demat mode with facility,can login through their existing user id and
CDSL Depository password.Option will be made available to reach-Voting
page without any further authentication.The users to
login to Easi /Easiest are requested to visit cdsl website
www.cdslindia.com and click on login icon &
NewSystem MyeasiTab.
2) After successful login the Easi /Easiest user will be

able to see the e-Voting option for eligible companies
where the e-voting is in progress as per the information
provided by company.On clicking the e-voting option,
the user will be able to see e-Voting page of the
e-Voting service provider for casting your vote during
the remote e-Voting period or joining virtual meeting &
voting during the meeting. Additionally, there is also
links provided to access the system of all
e-VotingServiceProviders,so that the user can visit the
e-Voting service providers’ website directly.
3) If the user is not registered for Easi/Easiest, option to

register is available at cdsl websitewww.cdslindia.com
and click on login & New System Myeasi Tab and then
click on registration option.

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4) Alternatively, the user can directly access e-Voting

page by providing Demat Account Number and PANNo.
From a e-Voting link available on www.cdslindia.com
homepage.The system will authenticate the user by
sending OTP on registered Mobile & Email as recorded
in the Demat Account. After successful authentication,
user will be able to see the e-Voting option where the
e-voting is in progress and also be able to directly
access the system of all e-Voting Service Providers.
Individual Shareholders holding

securities in demat mode with 1) If you are already registered for NSDL IDeAS facility,
NSDL Depository please visit the e-Services website of NSDL.Open
web browser by typing the following URL:
https://eservices.nsdl.com either on a Personal
Computer or on a mobile. Once the home page of
e-Services is launched, click on the “Beneficial
Owner” icon under “Login” which is available under
‘IDeAS’ section. A new screen will open. You will
have to enter your User ID and Password. After
successful authentication, you will be able to see
e-Voting services. Click on “Access to e-Voting”
under e-Voting services and you will be able to see
the e-Voting page. Click on company name or
e-Voting service provider name and you will be
redirected to e-Voting service provider website for
casting your vote during the remote e-Voting period
or joining virtual meeting & voting during the
meeting.
2). If the user is not registered for IDeAS e-Services,

option to register is available at
https://eservices.nsdl.com. Select “Register Online
for IDeAS “Portal or click at
https://eservices.nsdl.com/SecureWeb/IdeasDirectR
eg.jsp.
3) Visit the e-Voting website of NSDL. Open web

browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal
Computer or on a mobile. Once the home page of

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e-Voting system is launched, click on the icon

“Login” which is available under
‘Shareholder/Member’ section. A new screen will
open. You will have to enter your User ID (i.e. your
sixteen digit demat account number hold with
NSDL), Password/OTP and a Verification Code as
shown on the screen. After successful
authentication, you will be redirected to NSDL
Depository site wherein you can see e-Voting page.
Click on company name or e-Voting service provider
name and you will be redirected to e-Voting service
provider website for casting your vote during the
remote e-Voting period or joining virtual meeting &
voting during the meeting.
Individual Shareholders
(holding securities in demat You can also login using the login credentials of your
mode) login through their demat account through your Depository Participant
Depository Participants (DP) registered with NSDL/CDSL for e-Voting facility.
After Successful login, you will be able to see
e-Voting option. Once you click on e-Voting option,
you will be redirected to NSDL/CDSL Depository
site after successful authentication, wherein you can
see e-Voting feature. Click on company name or
e-Voting service provider name and you will be
redirected to e-Voting service provider website for
casting your vote during the remote e-Voting period
or joining virtual meeting & voting during the
meeting.
Important note: Members who are unable to retrieve User ID/ Password are advised to use
Forget User ID and Forget Password option available at abovementioned website.
Helpdesk for Individual Shareholders holding securities in demat mode for any
technical issues related to login through Depository i.e. CDSL and NSDL

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Login type Helpdesk details
Individual Shareholders holding Members facing any technical issue in login

securities in Demat mode with can contact CDSL helpdesk by sending a
CDSL request at helpdesk.evoting@cdslindia.com
or contact at toll free no. 1800 21 09911
Individual Shareholders holding Members facing any technical issue in login

securities in Demat mode with can contact NSDL helpdesk by sending a
NSDL request at evoting@nsdl.co.in or call at : 022
- 4886 7000 and 022 - 2499 7000
Step 2 : Access through CDSL e-Voting system in case of shareholders holding shares in
physical mode and non-individual shareholders in demat mode.
(v) Login method for e-Voting and joining virtual meetings for Physical shareholders and
shareholders other than individual holding in Demat form.
1) The shareholders should log on to the e-voting website www.evotingindia.com.
2) Click on “Shareholders” module.
3) Now enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
c. Shareholders holding shares in Physical Form should enter Folio Number

registered with the Company.
4) Next enter the Image Verification as displayed and Click on Login.

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5) If you are holding shares in demat form and had logged on to www.evotingindia.com and
voted on an earlier e-voting of any company, then your existing password is to be used.
6) If you are a first-time user follow the steps given below:
For Physical shareholders and other than

individual shareholders holding shares in Demat.
PAN
Enter your 10 digit alpha-numeric *PAN issued by
Income Tax Department (Applicable for both demat
shareholders as well as physical shareholders)
Shareholders who have not updated their PAN with

the Company/Depository Participant are requested
to use the sequence number sent by Company/RTA
or contact Company/RTA.
Dividend Bank Details OR Date Enter the Dividend Bank Details or Date of Birth (in
of Birth (DOB) dd/mm/yyyy format) as recorded in your demat
account or in the company records in order to login.
If both the details are not recorded with the

depository or company, please enter the member id /
folio number in the Dividend Bank details field.
(vi) After entering these details appropriately, click on “SUBMIT” tab.
(vii) Shareholders holding shares in physical form will then directly reach the Company
selection screen. However, shareholders holding shares in demat form will now reach
‘Password Creation’ menu wherein they are required to mandatorily enter their login
password in the new password field. Kindly note that this password is to be also used by the
demat holders for voting for resolutions of any other company on which they are eligible to
vote, provided that company opts for e-voting through CDSL platform. It is strongly
recommended not to share your password with any other person and take utmost care to
keep your password confidential.

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(viii) For shareholders holding shares in physical form, the details can be used only for
e-voting on the resolutions contained in this Notice.
(ix) Click on the EVSN for the relevant <Company Name> on which you choose to vote.
(x) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the
same the option “YES/NO” for voting. Select the option YES or NO as desired. The
option YES implies that you assent to the Resolution and option NO implies that you
dissent to the Resolution.
(xi) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution
details.
(xii) After selecting the resolution, you have decided to vote on, click on “SUBMIT”. A
confirmation box will be displayed. If you wish to confirm your vote, click on “OK”, else to
change your vote, click on “CANCEL” and accordingly modify your vote.
(xiii) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify
your vote.
(xiv) You can also take a print of the votes cast by clicking on “Click here to print” option
on the Voting page.
(xv) If a demat account holder has forgotten the login password then Enter the User ID
and the image verification code and click on Forgot Password & enter the details as
prompted by the system.
(xvi) There is also an optional provision to upload BR/POA if any uploaded, which will be
made available to scrutinizer for verification.
(xvii) Additional Facility for Non – Individual Shareholders and Custodians –For
Remote Voting only.
1. Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and
Custodians are required to log on to www.evotingindia.com and register
themselves in the “Corporates” module.
2. A scanned copy of the Registration Form bearing the stamp and sign of the
entity should be emailed to helpdesk.evoting@cdslindia.com.

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3. After receiving the login details a Compliance User should be created using
the admin login and password. The Compliance User would be able to link the
account(s) for which they wish to vote on.
4. The list of accounts linked in the login will be mapped automatically & can be
delink in case of any wrong mapping.
5. It is Mandatory that, a scanned copy of the Board Resolution and Power of
Attorney (POA) which they have issued in favour of the Custodian, if any,
should be uploaded in PDF format in the system for the scrutinizer to verify
the same.
6. Alternatively Non Individual shareholders are required mandatory to send the
relevant Board Resolution/ Authority letter etc. together with attested
specimen signature of the duly authorized signatory who are authorized to
vote, to the Scrutinizer and to the Company at the email address viz;
evoting@lawsikho.in , if they have voted from individual tab & not uploaded
same in the CDSL e-voting system for the scrutinizer to verify the same.
INSTRUCTIONS FOR SHAREHOLDERS ATTENDING THE AGM THROUGH VC/OAVM &

E-VOTING DURING MEETING ARE AS UNDER:
1. The procedure for attending meeting & e-Voting on the day of the AGM is same as the
instructions mentioned above for e-voting.
2. The link for VC/OAVM to attend meeting will be available where the EVSN of Company
will be displayed after successful login as per the instructions mentioned above for
e-voting.
3. Shareholders who have voted through Remote e-Voting will be eligible to attend the
meeting. However, they will not be eligible to vote at the AGM.
4. Shareholders are encouraged to join the Meeting through Laptops / IPads for better
experience.
5. Further shareholders will be required to allow Camera and use Internet with a good
speed to avoid any disturbance during the meeting.
6. Please note that Participants Connecting from Mobile Devices or Tablets or through
Laptop connecting via Mobile Hotspot may experience Audio/Video loss due to
Fluctuation in their respective network. It is therefore recommended to use Stable Wi-Fi
or LAN Connection to mitigate any kind of aforesaid glitches.

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7. Shareholders who would like to express their views/ask questions during the meeting
may register themselves as a speaker by sending their request in advance at least 07
days prior to meeting mentioning their name, demat account number/folio number,
email id, mobile number at (company email id). The shareholders who do not wish to
speak during the AGM but have queries may send their queries in advance 07 days
prior to meeting mentioning their name, demat account number/folio number, email id,
mobile number at evoting@lawsikho.in. These queries will be replied to by the company
suitably by email.
8. Those shareholders who have registered themselves as a speaker will only be allowed to
express their views/ask questions during the meeting.
9. Only those shareholders, who are present in the AGM through VC/OAVM facility and have
not casted their vote on the Resolutions through remote e-Voting and are otherwise not
barred from doing so, shall be eligible to vote through e-Voting system available during
the AGM.
10. If any Votes are cast by the shareholders through the e-voting available during the AGM
and if the same shareholders have not participated in the meeting through VC/OAVM
facility, then the votes cast by such shareholders may be considered invalid as the facility
of e-voting during the meeting is available only to the shareholders attending the
meeting.
PROCESS FOR THOSE SHAREHOLDERS WHOSE EMAIL/MOBILE NO. ARE NOT

REGISTERED WITH THE COMPANY/DEPOSITORIES.
1. For Physical shareholders- please provide necessary details like Folio No., Name of
shareholder, scanned copy of the share certificate (front and back), PAN (self attested
scanned copy of PAN card), AADHAR (self attested scanned copy of Aadhar Card) by email
to Company/RTA email id.
2. For Demat shareholders -, Please update your email id & mobile no. with your respective
Depository Participant (DP).
3. For Individual Demat shareholders – Please update your email id & mobile no. with
your respective Depository Participant (DP) which is mandatory while e-Voting &
joining virtual meetings through Depository.

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If you have any queries or issues regarding attending AGM & e-Voting from the CDSL
e-Voting System, you can write an email to helpdesk.evoting@cdslindia.com or contact at toll
free no. 1800 21 09911.
All grievances connected with the facility for voting by electronic means may be addressed to
Mr. Rakesh Dalvi, Sr. Manager, (CDSL, ) Central Depository Services (India) Limited, A
Wing, 25th Floor, Marathon Futurex, Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel
(East), Mumbai - 400013 or send an email to helpdesk.evoting@cdslindia.com or call toll
free no. 1800 21 09911.

Komal Shah
Place: Mumbai

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ANNEXURE I TO NOTICE OF AGM:
Details of the Directors seeking appointment/ re-appointment in forthcoming Annual General

Meeting [Pursuant to Regulation 36(3) of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 and Paragraph 1.2.5 of the
Secretarial Standard on General Meetings issued by the Institute of Company Secretaries of
India]
Sr. No. Name of Director Abhyudaya Agarwal
1 DIN 05016416
2 Date of Birth 13-09-1988
3 Nationality Indian
4 Date of appointment on Board 12-09-2017
5 Brief resume Mr. Abhyudaya Agarwal’s journey

is enriched by diverse roles such
as Co- Founder of CloudTrain,
associate in Corporate &
Restructuring at Trilegal where he
primarily worked on foreign
investments into India,
restructuring of Indian companies.
He also co-founded Super Lawyer
and his influence extends to NUJS
LawReview, where he served as a
Student Editor on the Board of
Editors. He serves as the
Whole-Time Director of the
company. He obtained his LLB
degree from West Bengal National
University of Juridical Sciences in
the year 2011 and boasts over 12
years of experience in the field of
legal education. He assumed the
role of Whole-Time Director for a
period of 5-year w.e.f. October 13,
2023. Mr. Abhyudaya Sunil
Agarwal was one of the
co-founders of Addictive Learning

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Technology Limited and played a

significant role in establishing the
LawSikho brand alongside
Ramanuj Mukherjee.
5 Qualification & Expertise in specific Mr. Abhyudaya Agarwal has

functional area / Background details /Job obtained his LLB degree from
profile and his suitability West Bengal National University of
Juridical Sciences in the year 2011
and has over 12 years of
experience in the field of legal
education. Prior to LawSikho, he
was chosen to work with Trilegal,
one of the top law firms in the
country. His in-depth knowledge of
law and the ability to guide and
motivate students and team
members as well as his significant
role in establishing the various
functions in the Company and
building the LawSikho brand
makes him the perfect candidate
to occupy a board seat in the
Company.
6 Number of shares held in the Company 44,39,103 shares
7 Nature of expertise in specific functional Mr. Abhyudaya Agarwal is a

area qualified and experienced lawyer
who understands the nuances of
the legal industry very well,
including the specific benefits that
the Company can provide to
learners in different legal areas.
His expertise contributes
immensely to the content creation
of the courses. He also plays a
pivotal role in ensuring the
success of the bootcamps for the
Company.
8 Names of listed entities in which the Other listed entities where the
person also holds the directorship and person holds directorship: None
the membership of Committees of the Membership of committees:
board along with listed entities from which (Addictive Learning Technology

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(CIN: L74110HR2017PLC118029)
the person has resigned in the past three Limited):

years 1. IPO Committee
2. Executive Committee
3. Audit Committee
4. Nomination and
Remuneration Committee
5. Stakeholders’ Relationship
Committee
9 Disclosure of relationship between None

Directors inter-se
10 In case of independent directors, the skills Not applicable

and capabilities required for the role and
the manner in which the proposed person
meets such requirements

Komal Shah
Place: Mumbai

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CORPORATE INFORMATION

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

Mr. Ramanuj Mukherjee, Managing Director

Space Creattors Heights, 3rd floor, Landmark Cyber Park,

REGISTRAR & TRANSFER AGENTS

Maashitla Securities Private Limited

451, Krishna Apra Business Square, Netaji Subhash Place,

National Stock Exchange of India Ltd. (NSE Emerge)

M/s KRA & Co.

Rawal & Co.

Annual Report 2023-24

Our commitment lies in enabling individuals from small towns and

Annual Report 2023-24

Dear Valued Shareholders,

1. Scaling SkillArbitrage: We were able to scale up our SkillArbitrage brand. We

Annual Report 2023-24

1. Innovation in Learning: We will continue to invest in cutting-edge technologies,

Annual Report 2023-24

Annual Report 2023-24

OUTLOOK ON THE INDIAN ECONOMY

Annual Report 2023-24

Additionally, manufacturing is seeing a resurgence due to initiatives like "Make in India,"

From the perspective of our business, 3 forces deserve mention:

Annual Report 2023-24

OUTLOOK ON UPSKILLING INDUSTRY

Annual Report 2023-24

STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND RISKS IN ED-TECH AND

Strong placement numbers:

Smaller sales team:

Rapidly changing work force requirements:

Annual Report 2023-24

Dependence on consumer loans for revenue generation:

Dedicated sales teams focusing on US and UK services export market:

Opportunities for geographical expansion:

Annual Report 2023-24

Ability to attract and retain talented personnel

Computer-driven and intellectual property based systems

SEGMENT WISE OR PRODUCT-WISE PERFORMANCE

Annual Report 2023-24

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS

RATIO FY 2024 FY 2023 CHANGE % REASON FOR

Current Ratio 5.15 1.26 309% The Company was listed

Trade receivable 135.48 1384.24 -90% The Company’s trade

Annual Report 2023-24

Debt-equity ratio 0.00 0.08 -100% The short term borrowing

Net Profit Margin 10% 7% 43% Company's year on year

Operating Profit 19.6% 9.97% 97% Company's year on year

Interest - - - Since there are no

Inventory - - - The Company is an

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL

As a professional upskilling and education technology company, we believe that a motivated

Annual Report 2023-24

DEPARTMENT WISE EMPLOYEES BREAK-UP:

Sr. No. Particulars Number of employees

2 Finance and Accounts 4

4 Marketing and Sales 36

5 Content team (including Test prep, Blog) 13

6 Operations & Support 13

DEPARTMENT WISE PROFESSIONAL BREAK-UP: