Lytus Technologies Holdings PTV. Ltd 20-F for FY2024

Lytus Technologies Holdings PTV. Ltd. (LYTHF)

20-F 2024-08-15 For: 2024-03-31

Added on April 04, 2026

About this 20-F

Lytus Technologies Holdings PTV. Ltd filed this 20-F on August 15, 2024, covering the fiscal year ended March 31, 2024 (FY2024).

Headline figures

Fiscal year ended March 31, 2024, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $23M; up 18.6% from $19.39M a year earlier
Net income: $287.67K; compared with a net loss of $2.35M a year earlier
Diluted EPS: $0.68; compared with -$2.67 a year earlier

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Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares		LYT		The Nasdaq Capital Market

INTRODUCTION		vi
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS		vii
PART I
	ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS	1
	ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE	1
	ITEM 3. KEY INFORMATION	2
	ITEM 4. INFORMATION ON THE COMPANY	27
	ITEM 4A. UNRESOLVED STAFF COMMENTS	45
	ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS	45
	ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES	63
	ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	71
	ITEM 8. FINANCIAL INFORMATION	73
	ITEM 9. THE OFFER AND LISTING	73
	ITEM 10. ADDITIONAL INFORMATION	73
	ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	93
	ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES	93
PART II
	ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES	94
	ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS	94
	ITEM 15. CONTROLS AND PROCEDURES	94
	ITEM 16. RESERVED	96
	ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT	96
	ITEM 16B. CODE OF ETHICS	96
	ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES	97
	ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES	97
	ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS	97
	ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT	97
	ITEM 16G. CORPORATE GOVERNANCE	98
	ITEM 16H. MINE SAFETY DISCLOSURE	98
	ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS	98
	ITEM 16J. INSIDER TRADING POLICIES	98
	ITEM 16K. CYBERSECURITY	98
PART III
	ITEM 17. FINANCIAL STATEMENTS	F-1
	ITEM 18. FINANCIAL STATEMENTS	F-1
	ITEM 19. EXHIBITS	99
	EXHIBIT INDEX	99
SIGNATURES		103
FINANCIAL STATEMENTS		F-1

Customers acquisition			5 Years
Trademark/Copy rights			5 Years
Computer Software			5 Years
Commercial rights			5-10 years

STATEMENT OF OPERATIONS DATA:	For the year ended 31 March 2024					For the year ended 31 March 2023					Change
	$		%			$		%			$		%
Operating revenue		21,363,775		93	%		19,008,184		98	%		2,355,591		12	%
Other Income		1,639,567		7	%		385,145		2	%		1,254,422		326	%
Total Revenue		23,003,342		100	%		19,393,329		100	%		3,610,013		19	%

Revenue from contract with customers	For the year March 31, 2024		For the year March 31, 2023		Change
	(In USD)		(In USD)		(In USD)			%
Types services
Subscription Income		14,955,197		13,930,887		1,024,310			7	%
Carriage/Placement fees		5,410,248		3,406,204		2,004,044			59	%
Advertisement Income		556,582		1,413,553		(856,971	)		-61	%
Device activation fees		151,960		257,540		(105,580	)		-41	%
Fiber use revenue		289,788		-		289,788			100	%
Total revenue from contract with customers		21,363,775		19,008,184		2,355,591			12	%

Finance and other cost	For the period ending March 31, 2024		For the period ending March 31, 2023		Change (USD)			Change (%)
Interest on bank overdrafts, loans and other financial liabilities		346,465.00		328,449.00		18,016			5	%
Interest on lease liabilities		42,850.00		21,845.00		21,005			96	%
Commission and other borrowings		232,911.00		122,000.00		110,911			91	%
Collection charges		15,715.00		125,930.00		(110,215	)		-88	%
Share warrant expenses		-		1,607,791.00		(1,607,791	)		100	%
Other costs - interest on tax payables		1,016.00		4,389.00		(3,373	)		-77	%
		638,957		2,210,404		(1,571,447	)		-71	%

STATEMENT OF OPERATIONS DATA:	For the year ended 31 March 2023						For the year ended 31 March 2022
	$			%			$			%			$			%
Operating revenue		21,363,775			93	%		19,008,184			98	%		2,355,591			12	%
Other Income		1,639,567			7	%		385,145			2	%		1,254,422			326	%
Total Revenue		23,003,342			100	%		19,393,329			100	%		3,610,013			19	%
Cost of revenue		16,762,580			73	%		13,884,291			72	%		2,878,289			21	%
Other operating expenses		2,643,948			11	%		2,267,265			12	%		376,683			17	%
Legal and professional expenses		386,622			2	%		833,079			4	%		(446,457	)		-54	%
Staffing expenses		844,098			4	%		633,979			3	%		210,119			33	%
Depreciation and amortisation		926,484			4	%		696,224			4	%		230,260			33	%
Net income		1,439,610			6	%		1,078,491			6	%		361,119			33	%
Interest expenses		638,957			3	%		2,210,404			11	%		(1,571,447	)		-71	%
Interest income		-			0	%		19,123			0	%		(19,123	)		-100	%
Income (loss) from continuing operations before income taxes		800,653			3	%		(1,112,790	)		-6	%		1,913,443			-172	%
Income tax		147,479			1	%		523,047			3	%		(375,568	)		-72	%
Net income after tax		653,174			3	%		(1,635,837	)		-8	%		2,289,011			-140	%
Other comprehensive income
Items that may not be reclassified subsequently to income
Reclassification of defined benefit obligation		(957	)					1,400						443
Items that may be reclassified subsequently to income								-
Foreign currency translation reserves of subsidiaries, net of tax		82,351						216,022						(133,672	)
Total comprehensive income for the period		734,568						(1,421,215	)					2,155,782
Attributable to:								-
Controlling interest		258,015						(2,190,732	)					2,448,746
Non-controlling interest		476,553						769,517						(292,964	)
Basic income per common share		0.68						(2.67	)
Diluted income per common share		0.68						(2.67	)

	Year ended March 31, 2024			Year ended March 31, 2023			Change
	($)			($)			($)			(%)
Electricity charges		59,821			59,036			785			1	%
Repair & Maintenance expenses		179,592			129,987			49,605			38	%
Business promotion expenses		30,096			3,508			26,588			758	%
Operating lease rentals		17,579			15,327			2,252			15	%
Regulatory expenses		43,551			69,929			(26,378	)		-38	%
Conveyance & Traveling expenses		28,434			112,111			(83,677	)		-75	%
Security charges		12,653			5,150			7,503			100	%
Commission charges		1,621,014			1,465,012			156,002			11	%
Credit Loss allowances		(72,698	)		(120,544	)		(193,242	)		-160	%
CSR expenses		-			-			-			0	%
Loss on disposal of a subsidiary		1,000			192,776			(191,776	)		100	%
Other operating expenses		577,510			334,973			242,537			72	%
		2,643,948			2,267,265			376,683			17	%

	Year ended March 31, 2024			Year ended March 31, 2023
Net cash provided by operating activities	$	886,034		$	1,153,335
Net cash used in investing activities		(3,651,681	)		(12,920,014	)
Net cash provided by financing activities		2,705,230			11,655,402
Cash acquired in business combination (refer note 23)		-			432,138
Adjustment for deconsolidation of subsidiary (refer note 24)		(1,000	)		(7,601	)
Exchange rate effect on cash		(4,015	)		(10,201	)
Net cash inflow (outflow)	$	(65,432	)	$	303,059

18	https://menafn.com/1103970861/India-Smart-TV-and-OTT-Market-Consumption-Sales-By-Type-Product-Specifications-Research-Methodology-Forecast-2022-2031?
19	https://menafn.com/1103970861/India-Smart-TV-and-OTT-Market-Consumption-Sales-By-Type-Product-Specifications-Research-Methodology-Forecast-2022-2031?

Name	Age	Positions and Offices
Dharmesh Pandya	55	Chief Executive Officer and Director
Shreyas Shah	41	Chief Financial Officer and Director
Rajeev Kheror	60	Independent Director
Robert M. Damante	71	Independent Director
Parvez Master	52	Independent Director

Name and Position	Year	Salary ($)	Bonus ($)	Stock Awards ($)	Option Awards ($)	All Other Compensation ($)	Total ($)
Dharmesh Pandya	2023	—	—	—	—	—	—
Chief Executive Officer and Director	2024	—	—	—	—	—	—
Shreyas Shah	2023	—	—	—	—	—	—
Chief Financial Officer and Director	2024	—	—	—	—	—	—

	●	appointing officers and determining the term of office of the officers,

	●	authorizing the payment of donations to religious, charitable, public or other bodies, clubs, funds or associations as deemed advisable,

	●	exercising the borrowing powers of the company and mortgaging the property of the company,

	●	executing checks, promissory notes and other negotiable instruments on behalf of the company, and

	●	maintaining or registering a register of mortgages, charges or other encumbrances of the company.

	●	appointing, compensating, retaining, evaluating, terminating, and overseeing our independent registered public accounting firm,

	●	discussing with our independent registered public accounting firm the independence of its members from its management,

	●	reviewing with our independent registered public accounting firm the scope and results of their audit,

	●	approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm,

	●	overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC,

	●	reviewing and monitoring our accounting principles, accounting policies, financial and accounting controls, and compliance with legal and regulatory requirements,

	●	coordinating the oversight by our board of directors of our code of business conduct and our disclosure controls and procedures,

	●	establishing procedures for the confidential and or anonymous submission of concerns regarding accounting, internal controls or auditing matters, and

	●	reviewing and approving related-party transactions.

	●	reviewing and approving, or recommending to the board of directors to approve the compensation of our CEO and other executive officers and directors,

	●	reviewing key employee compensation goals, policies, plans and programs,

	●	administering incentive and equity-based compensation,

	●	reviewing and approving employment agreements and other similar arrangements between us and our executive officers, and

	●	appointing and overseeing any compensation consultants or advisors.

	●	selecting or recommending for selection candidates for directorships,

	●	evaluating the independence of directors and director nominees,

	●	reviewing and making recommendations regarding the structure and composition of our board of directors and the committees thereof,

	●	developing and recommending to the board of directors corporate governance principles and practices;

	●	reviewing and monitoring our company’s Code of Business Conduct and Ethics, and

	●	overseeing the evaluation of our company’s management.

	●	the requirement that a majority of the board of directors consist of independent directors;

	●	the requirement that our director nominees be selected or recommended solely by independent directors; and

	●	the requirement that we have a nominating and corporate governance committee and a compensation committee that are composed entirely of independent directors with a written charter addressing the purposes and responsibilities of the committees.

	●	have a majority of the board of directors to be independent (although all of the members of the audit committee must be independent under the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act);

	●	have a compensation committee or a nominating or corporate governance committee consisting entirely of independent directors;

	●	have regularly scheduled executive sessions for non-management directors; and

	●	have annual meetings and director elections.

Main Activity	Number of Employees
Sales, marketing, and business development		2
Accounts and operations		3
Engineering, product, and design		2
General and administrative		1
Total		8

	●	each shareholder known by us to be the beneficial owner of more than 5% of our outstanding common shares,

	●	each of our directors,

	●	each of our named executive officers, and

	●	all of our directors and executive officers as a group.

	Beneficial Ownership
Name of Beneficial Owner	Common Shares		%
Dharmesh Pandya⁽¹⁾		1,233,250		66.19
Shreyas Shah		5,128		*
Robert M. Damante		2,755		*
Rajeev Kheror		2,820		*
All officers and directors as a group		1,243,953		66.76

	●	amend our Memorandum of Association to increase or decrease the maximum number of common shares we are authorized to issue,

	●	subject to our Memorandum of Association, subdivide our authorized and issued common shares into a larger number of common shares then our existing number of common shares, and

	●	subject to our Memorandum of Association, consolidate our authorized and issued shares into a smaller number of common shares.

Name		Nos. of Common Stock
Dharmesh Pandya, Global CEO and Lytus Trust (creating a bank of stocks for potential partners, key employees, etc.)			40,000,000

Corporate Tax Information
Tax rate		30% general corporate tax rate 25% if turnover is less than INR 4 billion in FY2018/19 22% for domestic company, without special deductions and 0% MAT 15% for domestic manufacture/research company, without special deductions 10% if patent is developed and registered in India 15% Minimum Alternate Tax (MAT) for domestic companies

Surtaxes		0% surcharge (SC) where total income does not exceed INR 10 million 7% SC where total income exceeds INR 10 million but is less than INR 100 million 12% SC where total income exceeds INR 100 million 4% health and education cess (HEC) in all cases

	●	income from house property;

	●	income from a business or profession;

	●	capital gains; and

	●	income from other sources, e.g. dividends and other passive income.

	●	it must be of a revenue nature rather than of a capital nature;

	●	it must be laid out or spent “wholly and exclusively” for purposes of the taxpayer’s business;

	●	it must be laid out and spent during the relevant previous year;

	●	it must not be incurred in respect of private expenses of the taxpayer;

	●	it must not be specifically disallowed or restricted by the tax legislation, or covered by provisions relating to specifically permitted deductions; and

	●	it must not be incurred for a purpose that is an offence or is prohibited by law.

	(i)	pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;

	(ii)	provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and

	Year ended		Year ended
Principal Accountant Fees and Services	March 31, 2024		March 31, 2023
Audit fees(1)	$	40,000	$	55,000
Audit-related fees(2)		-		-
Tax fees(3)		-		-
All other fees(4)		-		-
Total	$	40,000	$	55,000

Independent Registered Public Accounting Firm’s Reports (PCAOB ID 6841)	F-2
Consolidated Statements of Financial Position	F-3
Consolidated Statements of Profit or Loss and Other Comprehensive Income	F-4
Consolidated Statements of Changes in Equity (Deficit)	F-5
Consolidated Statements of Cash Flows	F-6
Notes to the Consolidated Financial Statements	F-7

	Note No.	As of March 31, 2024		As of March 31, 2023
		(US$)		(US$)
ASSETS
Current assets
Cash and cash equivalents		$	246,377	$	311,810
Other financial assets	7		4,222,957		2,529,576
Trade receivables	6		3,682,302		1,831,724
Other current assets	8		1,938,327		1,652,936
Total current assets			10,089,963		6,326,046
Non-current assets
Property and equipment, net	9		10,457,586		9,600,526
Capital work-in-process	9		878,103		794,271
Intangible assets and goodwill, net	10		1,034,184		1,060,228
Intangible assets under development	10		—		11,051
Other non-current financial assets	10A		285,523		275,049
Other non-current assets	10B		8,747,601		8,714,907
Deferred tax assets	5		70,463		103,746
Total non-current assets			21,473,460		20,559,778
Total assets		$	31,563,423	$	26,885,824
LIABILITIES AND EQUITY
Current Liabilities
Borrowings	11A	$	1,728,190	$	3,889,131
Trade payables	12		8,430,154		6,802,780
Other financial liabilities	13A		243,655		1,715,060
Employee benefits obligation	13B		209		212
Other current liabilities	14		3,413,025		2,452,190
Current tax liability	5		160,266		399,174
Total current liabilities			13,975,499		15,258,547
Non-current liabilities
Financial Liabilities
Borrowings	11B		769,795		10,185
Other financial liabilities	11C		241,951		321,749
Employee benefits obligations	13B		102,322		72,456
Deferred tax liability	5		494,731		478,359
Total non-current liabilities			1,608,799		882,749
Total liabilities			15,584,298		16,141,296
Commitments and contingencies	15		7,500,000		8,911,022
EQUITY
Equity share capital	6		538,996		375,766
Other equity	16		12,425,098		7,830,284
Equity attributable to equity holders of the Company			12,964,094		8,206,050
Non-controlling interest	16 & 23		3,015,031		2,538,478
Total equity			15,979,125		10,744,528
Total liabilities and equity		$	31,563,423	$	26,885,824

	Note No.	For the year ended March 31, 2024			For the year ended March 31, 2023
		(US$)			(US$)
Revenues:
Revenue from contracts with customers	3	$	21,363,775		$	19,008,184
Other income	3A		1,639,567			385,145
Total income			23,003,342			19,393,329

Expenses:
Costs of revenue	4		16,762,580			13,884,291
Amortization of intangible assets	10		15,813			16,211
Depreciation	9		910,671			680,013
Legal and professional expenses	4		386,622			833,079
Staffing expenses	4		844,098			633,979
Other operating expenses	4		2,643,948			2,267,265
Total expenses			21,563,732			18,314,838

Finance Income	4		—			19,123
Finance Cost	4		638,957			2,210,404
Profit before income tax			800,653			(1,112,790	)
Income tax expense	5		147,479			523,047
(Loss)/profit for the year		$	653,174		$	(1,635,837	)
(Loss)/profit attributable to:
Controlling interest		$	287,669		$	(2,348,103	)
Non-controlling interest			365,505			712,266

Other comprehensive income
Items that will not be reclassified to profit or loss
Reclassification of defined benefit obligation, net of tax			(957	)		(1,400	)
Items that may be reclassified subsequently to profit or loss
Exchange difference on foreign currency translation of subsidiaries, net of tax			82,351			216,022
Total comprehensive income/(Loss) for the year		$	734,568		$	(1,421,215	)
Total comprehensive income/(Loss) attributable to:
Controlling interest		$	258,015		$	(2,190,732	)
Non-controlling interest		$	476,553		$	769,517

Basic and diluted earnings per share
Basic (loss)/earning per common share	7	$	0.68		$	(2.67	)
Basic weighted average number of shares outstanding			967,510			613,481
Diluted (loss)/earning per common share	17	$	0.68		$	(2.67	)
Diluted weighted average number of common shares outstanding			967,510			613,481

	Shares (Nos.)		Share capital		Translation of foreign subsidiaries			Retained earnings			Securities Premium reserve			Employee benefits reclassification			ESOP Trust		Total			Non-controlling interest			Total equity
Balance at March 31, 2022		569,235	$	341,541	$	(283,077	)	$	12,148,402								$	—	$	12,206,866		$	1,908		$	12,208,774
Adjustments for Modification of Reachnet Agreement (refer note 22)									(14,319,254	)										(14,319,254	)					(14,319,254	)
Restated Balance		569,235		341,541		(283,077	)		(2,170,851	)								—		(2,112,387	)		1,908			(2,110,480	)
Derecognition on disposal of a subsidiary – GHSI									—											—			(1,908	)		(1,908	)
Issue of shares		50,016		30,010								14,224,240								14,254,250						14,254,250
Share warrants exercised		7,025		4,215								71,108								75,323						75,323
Cost of IPO												(1,820,404	)							(1,820,404	)					(1,820,404	)
Profit/(Loss) for the year						—			(2,348,103	)										(2,348,103	)		712,266			(1,635,837	)
Acquired in the business combination (Refer Note 23)						—			—											—			1,768,961			1,768,961
Other comprehensive income for the year						158,085			—						(714	)				(157,371	)		57,251			214,622
Closing balance as at 31 March, 2023		626,276		375,766		(124,992	)		(4,518,954	)		12,474,944			(714	)		—		8,206,050			2,538,478			10,744,528
Profit/(Loss) for the year						—			287,669									—		287,669			365,505			653,174
Other comprehensive income for the year						(29,164	)		—						(489	)				(29,654	)		111,048			81,394
Issue of Shares to DTC (Refer Note 16)		46,040
Issue of Shares to ESOP Trust (Refer Note )		666,652							(5,720,000	)								5,720,000		—						—
Issue of shares common stock – Lenders (Refer Note 16)		481,187		158,809								4,178,524								4,337,333						4,337,333
Issue of shares common stock – Others (Refer Note 16)		2,369		1,421								50,874								52,295						52,295
Issue of shares common stock – Directors (Refer Note 16)		5,000		3,000								107,400								110,400						110,400
Closing balance as at 31 March, 2024		1,827,524		538,996		(154,156	)		(9,951,285	)		16,811,742			(1,203	)		5,720,000		12,964,094			3,015,031			15,979,125

	For the year ended March 31, 2024			For the year ended March 31, 2023
	(US$)			(US$)
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(loss)/ for the year	$	653,174		$	(1,635,837	)
Adjustment to reconcile (loss)/profit to net cash used in operating activities:
Deferred tax (benefit) / expense		28,241			135,640
Income tax expense		119,238			387,407
Amortization of intangible assets		926,484			696,224

Loss on deconsolidation of subsidiary (refer note 24)		1,000			192,776
Fair value gain on remeasurement of warrant liability		—			(22,766	)
Remeasurements of the net defined benefit plans		29,774			30,606
Expected credit loss on trade receivables		72,698			(120,544	)
Finance Cost		638,957			2,210,404
Sundry balances written off during the year		11,268			—
Liabilities no longer required written back		(1,635,651	)		(360,878	)
Finance income		—			(19,123	)
Salary/Legal and professional fees (Shares issued)		158,821			—
Change in operating assets and liabilities:
Inventories		—			—
Trade receivable		(1,945,143	)		381,946
Other receivable		—			—
Other financial assets		63,121			102,242
Other assets		(564,469	)		(730,555	)
Trade payable		2,578,248			132,056
Other financial liabilities		(9,161	)		(566,378	)
Other current liabilities		3,267			255,511
Security Deposits		—			—
Cash flow used in operating activities after working capital changes		1,129,867			1,068,731
Income tax (paid)/refund, net		(243,833	)		84,604
Net cash used in operating activities		886,034			1,153,335
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment and intangible assets (including intangible assets under development)		(1,936,320	)		(10,820,099	)
Interest received		—			19,123
Advances for acquisition of network		(1,715,361	)		(2,119,038	)
Net cash used in investing activities		(3,651,681	)		(12,920,014	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short term borrowings from directors - Net		937,807			—
Repayment of 7% secured promissory notes		—			(1,000,000	)
Proceeds from short term borrowings - Preferred Convertible Security		1,004,705			—
Proceeds from short term borrowings - Related party		31,214			—
Proceeds from long term borrowings - Bank		1,004,026			—
Repayment of short-term borrowings - Directors Loans		—			518,125
Proceeds on issuance of shares		—			12,509,169
Proceeds from financial institutions (net)		(10,862	)		10,449
Interest, commission and other charges paid		(261,660	)		(382,341	)
Net cash provided by financing activities		2,705,230			11,655,402
Net increase (decrease) in cash and cash equivalents		(60,417	)		(111,277	)
CASH AND CASH EQUIVALENTS – beginning of period		311,810			8,758
Acquired in Business Combination (refer note 23)		—			432,138
Adjustment for deconsolidation of subsidiary (refer note 24)		(1,000	)		(7,608	)
Effects of exchange rate changes on cash and cash equivalents		(4,016	)		(10,201	)
CASH AND CASH EQUIVALENTS – end of period	$	246,377		$	311,810

Non-cash transactions:
Shares issued to the suppliers, directors and other for the services		1,62,695
Share issued against repayment of:
Senior convertible Notes		3,333,333
Preferred convertible Security		1,004,000
Transactions with Lytus Inc for the investments in Lytus Inc for CCD and Lytus Inc to Lytus India is squared off due to option agreement.		1,35,000
Shares issued to ESOP trust

	% Shareholding and Voting Power
Name of Subsidiary	Country of Incorporation	As of March 31, 2024			As of March 31, 2023
Lytus Technologies Private Limited	India		100	%		100	%
Sri Sai Cable and Broadband Private Limited	India		51	%		51	%
Lytus Technologies Inc.	United States		—			100	%

Buildings			40 years
Property and equipment			3-15 years
Fixtures and fittings			5-10 years
Office equipments			5-10 years
Plant and Machinery			5-10 years