Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of
profit or loss net of any reimbursement. Provisions are not recognised for future operating losses.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost.

Contingent liabilities are possible obligations that arise from past events and whose existence will only be confirmed by the
occurrence or non-occurrence of one or more future events not wholly within the control of the Company. Where it is not
probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is
disclosed as a contingent liability, unless the probability of an outflow of economic benefits is remote.

A contingent asset is not recognised but disclosed when a probable asset that arises from past events and whose existence
will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the entity.

xviii. Cash and cash equivalents

Cash and cash equivalents include cash on hand, cheques on hand, balance with banks on current accounts and short-term,
highly liquid investments with an original maturity of three months or less and which are subject to an insignificant risk of
changes in value.

xix. Dividend payable

Dividends and interim dividends payable to a Company's shareholders are recognized as changes in equity in the period in
which they are approved by the shareholder's meeting and the Board of Directors respectively.

xx. Non-current assets (or disposal group) held for sale and discontinued operations:

Non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying value and fair
value less costs to sell.

Assets and disposal groups are classified as held for sale if their carrying value will be recovered through a sale transaction
rather than through continuing use. This condition is only met when the sale is highly probable and the asset, or disposal
group, is available for immediate sale in its present condition and is marketed for sale at a price that is reasonable in relation
to its current fair value.

Where a disposal group represents a separate major line of business or geographical area of operations, or is part of a single
coordinated plan to dispose of a separate major line of business or geographical area of operations, then it is treated as a
discontinued operation. The post-tax profit or loss of the discontinued operation together with the gain or loss recognised
on its disposal are disclosed as a single amount in the statement of profit and loss, with all prior periods being presented on
this basis.

xxi. Equity Issue Expenses

Expenses incurred on the issue of equity shares are charged in the securities premium account in the year in which it
is incurred.

xxii. Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

A. Financial assets

Initial recognition and measurement

All financial assets, except trade receivables, are initially recognized at fair value. Trade receivables are initially
measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial
assets, which are not at fair value through profit or loss, are adjusted to the fair value of the financial assets, as
appropriate, on initial recognition.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in the following categories:

a) Financial assets carried at amortised cost

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the
asset in order to collect contractual cash flows and the contractual terms of the financial assets give rise to cash
flows on specified dates that are solely payments of principal and interest on the principal amount outstanding.
Amortised cost is determined using the Effective Interest Rate (EIR) method. Discount or premium on acquisition
and fees or costs forms an integral part of the EIR.

b) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding. Interest income for these financial assets is included in other income using the effective interest
rate method.

c) Financial assets at fair value through profit or loss (FVTPL)

FVTPL is a residual category for financial instruments. Any financial instrument, which does not meet the
criteria for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL. In addition, the Company
may elect to classify a financial instrument, which otherwise meets amortized cost or FVTOCI criteria, as at
FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition
inconsistency (referred to as 'accounting mismatch'). Financial instruments included within the FVTPL category
are measured at fair value with all changes recognized in the profit and loss.

d) Equity investments

All equity investments, except investments in subsidiaries are measured at fair value. Equity instruments which
are held for trading are classified as at FVTPL. For all other equity instruments, the Company decides to classify
the same either as at FVTOCI or FVTPL. The Company makes such election on an instrument-by-instrument basis.
The classification is made on initial recognition and is irrevocable. If the Company decides to classify an equity
instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognized in the
OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, the Company
may transfer the cumulative gain or loss within equity. Equity instruments included within the FVTPL category
are measured at fair value with all changes recognized in the profit and loss. Equity investments in subsidiaries
are carried at cost except for the equity investments in subsidiaries as at the transition date which are carried at
deemed cost being fair value as at the date of transition.

Impairment of financial assets:

The company assesses on a forward-looking basis the expected credit losses associated with the assets carried at
amortised cost and FVOCI debt instruments. The impairment methodology applied depends on whether there has been
a significant increase in credit risk since initial recognition. If credit risk has not increased significantly, a 12-month
ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If,
in a subsequent period, the credit quality of the instrument improves such that there is no longer a significant increase
in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on a
12-month ECL.

For trade receivables, the company applies the simplified approach permitted by Ind AS 109 "Financial Instruments”
which requires expected lifetime losses to be recognised from initial recognition of receivables. The Company uses
historical default rates to determine impairment loss on the portfolio of trade receivables. At every reporting date,
these historical default rates are reviewed and changes in the forward-looking estimates are analysed

Derecognition of financial assets:

The Company derecognizes a financial asset when, and only when the contractual rights to the cash flows from the
financial asset expire or it transfers the financial asset and substantially all risks and rewards of ownership of the asset
to another entity.

If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to
control the transferred asset, the Company recognises its retained interest in the assets and an associated liability for
amounts it may have to pay.

B. Financial liabilities

Initial recognition and measurement

Financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition
or issue of financial liabilities (other than financial liabilities at fair value through profit or loss) are added to or deducted
from the fair value of the financial liabilities, as appropriate, on initial recognition.

Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method or at FVTPL. After initial
recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the EIR
method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the
EIR amortisation process. Amortised cost is calculated by considering any discount or premium on acquisition and
fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement
of profit and loss. For trade and other payables maturing within one year from the balance sheet date, the carrying
amounts approximate fair value due to the short maturity of these instruments.

Derecognition of financial liabilities:

A financial liability (or a part of a financial liability) is derecognized from the Company's Balance Sheet when, and only
when the obligation specified in the contract is discharged or cancelled or expires.

C. Offsetting of financial instruments

Financial assets and financial liabilities including derivative instruments are offset and the net amount is reported
in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an
intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

xxiii. Derivative Financial Instruments and Hedge Accounting

The Company uses various derivative financial instruments to mitigate the risk of changes in interest rates, exchange rates
and commodity prices. Such derivative financial instruments are initially recognised at fair value on the date on which a
derivative contract is entered into and are also subsequently measured at fair value. Derivatives are carried as Financial
Assets when the fair value is positive and as Financial Liabilities when the fair value is negative.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of Profit and
Loss, except for the effective portion of cash flow hedge which is recognised in Other Comprehensive Income and later
to Statement of Profit and Loss when the hedged item affects profit or loss or is treated as basis adjustment if a hedged
forecast transaction subsequently results in the recognition of a Non-Financial Assets or Non-Financial liability.

Hedges that meet the criteria for hedge accounting are accounted for as follows:

A. Cash Flow Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging instruments
to mitigate the risk of movement in interest rates and foreign exchange rates for foreign exchange exposure on
highly probable future cash flows attributable to a recognised asset or liability or forecast cash transactions. When
a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the
derivative is recognized in the cash flow hedging reserve being part of Other Comprehensive Income. Any ineffective
portion of changes in the fair value of the derivative is recognized immediately in the Statement of Profit and Loss. If
the hedging relationship no longer meets the criteria for hedge accounting, then hedge accounting is discontinued
prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the
hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash
flow hedging reserve until the underlying transaction occurs. The cumulative gain or loss previously recognized in the
cash flow hedging reserve is transferred to the Statement of Profit and Loss upon the occurrence of the underlying
transaction. If the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow
hedging reserve is reclassified in the Statement of Profit and Loss.

B. Fair Value Hedge:

The Company designates derivative contracts or non-derivative Financial Assets / Liabilities as hedging instruments
to mitigate the risk of change in fair value of hedged item due to movement in interest rates, foreign exchange rates and
commodity prices. Changes in the fair value of hedging instruments and hedged items that are designated and qualify
as fair value hedges are recorded in the Statement of Profit and Loss. If the hedging relationship no longer meets the
criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest
method is used for amortising to Statement of Profit and Loss over the period of maturity.

xxiv. Fair value measurement

The Company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the transaction
to sell the asset or transfer the liability takes place either:

? In the principal market for the asset or liability or

? In the absence of a principal market, in the most advantageous market for the asset or liability

A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
in its highest and best use.

The Entity uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as
a whole:

Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For the purpose of fair value disclosures, the Company has determined classes of assets & liabilities on the basis of the
nature, characteristics and the risks of the asset or liability and the level of the fair value hierarchy as explained above.

xxv. Employees benefits

a) Short-term obligations

Short-term obligations for wages and salaries, including nonmonetary benefits that are expected to be settled wholly
within twelve months after the end of the period in which the employees render the related service up to the end of the
reporting period are recognised and measured at the undiscounted amounts expected to be paid when the liabilities
are settled.

b) Post-employment obligations

i. Defined contribution plans

The eligible employees of the Company are entitled to receive benefits in respect of provident fund, a defined
contribution plan, in which both employees and the Company make contribution at a specified percentage of the
covered employee's salary. The contributions, as specified under Defined Contribution Plan to Regional Provident
Commissioner and the Central Provident Fund recognised as expense during the period in the statement of profit
and loss.

ii. Defined benefit plans

? Non-funded defined benefits plans: The Company provides for gratuity, a defined benefit retirement plan
('the Gratuity Plan') covering eligible employees of the company. The Gratuity Plan provides a lumpsum
payment to vested employees at retirement, death, or termination of employment, of an amount based on
the respective employee's salary and the tenure of employment with the company.

The cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial
valuation being carried out at each balance sheet date.

The net interest cost is calculated by applying the discount rate to the net balance of the defined
benefit obligation.

The service cost and net interest on the net defined benefit liability/(asset) is included in employees
benefits expenses in the statement of profit and loss.

Past service cost is recognised as an expense when the plan amendment or curtailment occurs or when
any related restructuring costs or termination benefits are recognised, whichever is earlier.

Re-measurement gain and loss arising from experience adjustments and change actuarial assumptions are
recognised in the period in which they occur, directly in other comprehensive income. Re-measurements
are not classified to the Statement of Profit and Loss in subsequent periods.

? Funded defined benefits plans: The Company also made a contribution to the provident fund set up as
an irrevocable trust. The Company is generally liable for monthly contributions and any shortfall in the
fund assets based on the government-specified minimum rates of return or pension and recognises such
contributions and shortfall, if any, as an expense in the year incurred.

c) Compensated absences

The employees of the Company are entitled to compensated absences which are both accumulating and non¬
accumulating in nature. The expected cost of accumulating compensated absences is determined by actuarial
valuation using the projected unit credit method for the unused entitlement that has accumulated as at the balance
sheet date. The benefits are discounted using the market yields as at the end of the balance sheet date that has terms
approximating to the terms of the related obligation. Re-measurements as a result of experience adjustments and
changes in actuarial assumptions are recognised in the statement of profit or loss.

d) Voluntary retirement scheme

Compensation to employees who have opted for retirement under the "Voluntary Retirement scheme” is charged to
the profit and loss account in the year of retirement. The Company is required to use updated actuarial assumptions to
remeasure net defined benefit liability or assets on amendments, curtailment or settlement of the defined benefit plan.

The Company adopted an amendment to Ind AS 19 as required by said notification to determine:

? Current Service Costs and net interest for the period after remeasurement using the assumptions used for
remeasurement and

? Net interest for the remaining period based on the remeasured net defined benefit liability or asset.

xxvi. Operating segments

The Company's operating segments are established on the basis of those components of the Company that are evaluated
regularly by the Board of Directors (the 'Chief Operating Decision Maker' as defined in Ind AS 108 - 'Operating Segments'), in
deciding how to allocate resources and in assessing performance. These have been identified taking into account the nature
of products and services, the differing risks and returns and the internal business reporting systems.

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment.
Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have
been disclosed as "Un-allocable”.

Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Assets and liabilities that
cannot be allocated to a segment on reasonable basis have been disclosed as "Un-allocable”.

xxvii. Cash flow statement

Cash flows are stated using the indirect method, whereby profit/loss before tax is adjusted for the effects of transactions of
a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and items of incomes and
expenses associated with investing or financing flows. The cash flows from operating, investing and financing activities of
the Company are segregated.

xxviii. Earnings per share

Basic earnings per share are calculated by dividing the profit/(loss) for the year (before other comprehensive income),
attributable to the equity shareholders, by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share are calculated by dividing the profit/(loss) for the year (before other comprehensive income),
adjusting the after tax effect of interest and other financing costs associated with dilutive potential equity shares, attributable
to the equity shareholders, by the weighted average number of equity shares considered for deriving basic earnings per
share and also the weighted average number of equity shares which could be issued on the conversion of all dilutive potential
equity shares.

xxix. Recent pronouncements

Recent Pronouncements Ministry of Corporate Affairs ("MCA”) notifies new standards or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to time. During the year ended 31^st
March 2026, MCA has notified the Companies (Indian Accounting Standards) Amendment Rules, 2025 applicable to the
Company w.e.f. 1^st April, 2025.

i. Amendments to Ind AS 21 - Lack of exchangeability

The amendment requires the Effects of Changes in Foreign Exchange Rates to specify how an entity should assess
whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking.
The amendments also require disclosure of information that enables users of its financial statements to understand
how the currency not being exchangeable into the other currency affects, or is expected to affect, the entity's financial
performance, financial position and cash flows. The amendments are effective for annual reporting periods beginning
on or after 1^st April 2025. The amendments do not have a material impact on the Company's financial statements

ii. Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Non-current Liabilities
with Covenants

In August 2025, the MCA notified amendments to paragraphs 69 to 76 of Ind AS 1 to specify the requirements for
classifying liabilities as current or non-current. The amendments clarify:

? What is meant by a right to defer settlement

? That a right to defer must exist at the end of the reporting period

? That classification is unaffected by the likelihood that an entity will exercise its deferral right

? That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a
liability not impact its classification

In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement
is classified as non-current and the entity's right to defer settlement is contingent on compliance with future
covenants within twelve months. If there is a breach of a material covenant of a long-term loan arrangement on or
before the end of the reporting period, resulting in the liability becoming payable on demand as at the reporting date,
and the lender agrees—after the reporting period but before the financial statements are approved for issue—not to
demand repayment for at least 12 months as a consequence of the breach, this shall be treated as an adjusting event.
Accordingly, the entity is not required to classify the liability as current. The amendments are effective for annual
reporting periods beginning on or after 1^st April 2025 retrospectively in accordance with Ind AS The amendments have
resulted in additional disclosures in Note 19 but have not had an impact on the classification of Company's liabilities.

iii. Other pronouncements include amendment to Ind AS 7, Ind AS 107 and Ind AS 12. However, the same are not applicable
to the Company on account of its current business.

3) Use of estimates and management judgements

The preparation of financial statements in conformity with Indian Accounting Standards (Ind AS) requires the management
of the company to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses,
assets, liabilities and related disclosures concerning the items involved as well as contingent assets and liabilities at the
balance sheet date.

The estimates and management's judgments are based on previous experience and other factors considered reasonable and
prudent in the circumstances. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimates are revised and in any future periods affected.

The areas involving critical judgement are as follows:

i. Useful lives of property plant and equipment / intangible assets

Property, plant and equipment / intangible assets are depreciated/amortised over their estimated useful lives, after taking
into account estimated residual value. Management reviews the estimated useful lives and residual values of the assets
annually in order to determine the amount of depreciation/amortisation to be recorded during any reporting period. The
useful lives and residual values are based on the Company's historical experience with similar assets and take into account
anticipated technological changes. The depreciation/amortisation for future periods is revised if there are significant
changes from previous estimates.

ii. Provisions and contingencies

The assessments undertaken in recognizing provisions and contingencies have been made in accordance with Ind AS 37,
'Provisions, Contingent Liabilities and Contingent Assets'. The evaluation of the likelihood of the contingent events has
required best judgment by management regarding the probability of exposure to potential loss. The timing of recognition
and quantification of the liability requires the application of judgement to existing facts and circumstances, which can be
subject to change.

iii. Post-employment benefit plans

Employee benefit obligations are measured on the basis of actuarial assumptions which include mortality and withdrawal
rates as well as assumptions concerning future developments in discount rates, the rate of salary increases and the inflation
rate. The Company considers that the assumptions used to measure its obligations are appropriate and documented.
However, any changes in these assumptions may have a material impact on the resulting calculations.

iv. Provision for income taxes and deferred tax assets

The Company's tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose
of paying advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for
uncertain tax positions

Deferred tax assets are recognised for unused tax losses and unused tax credit to the extent that it is probable that taxable
profit would be available against which the losses could be utilised. Significant management judgment is required to
determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future
taxable profits together with future tax planning strategies.

v. Impairment of investments in subsidiaries

The Company reviews its carrying value of investments carried at cost (net of impairment, if any) annually, or more frequently
when there is an indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is
accounted for in the statement of profit and loss.

vi. Leases

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116. Identification of a lease
requires significant judgment. The Company uses significant judgement in assessing the lease term (including anticipated
renewals) and the applicable discount rate.

The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered by an
option to extend the lease if the Company is reasonably certain to exercise that option; and periods covered by an option to
terminate the lease if the Company is reasonably certain not to exercise that option. In assessing whether the Company is
reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, it considers all
relevant facts and circumstances that create an economic incentive for the Company to exercise the option to extend the
lease, or not to exercise the option to terminate the lease. The Company revises the lease term if there is a change in the
non-cancellable period of a lease.

The discount rate is generally based on the incremental borrowing rate specific to the lease being evaluated or for a portfolio
of leases with similar characteristics.

vii. Fair value measurement of financial instruments

When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on
quoted price in markets, then fair value is measured using valuation techniques including the Discounted Cash Flow model.
The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of
judgement is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit
risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

Note 5 (ii): Lease Obligation (As a lessee):

The Company has taken various premises on operating lease for a lease period of 1 year to 9 years from the date of lease. The lease
period may be further extended as per mutual decision of the parties. The Company has elected not to apply the requirements of Ind
AS 116 Leases to short-term leases of all assets that have a lease term of 12 months or less and leases for which the underlying asset is
of low value, the expenditure on which has been recognized under line item "Short term leases” under Other expenses (refer note 35).
An incremental borrowing rate of 7.65% to 8.60% has been used for the measurement of the present value of remaining lease
payments and right-of-use assets.

9 (iv) The list of subsidiaries along with proportion of ownership interest held and country of incorporation are disclosed in
Consolidated Financial Statements for the FY 2025-26.

9 (v) Investments at Fair Value Through Other Comprehensive Income (FVTOCI) reflect investment in quoted and unquoted equity
securities. These equity shares are designated as FVTOCI as they are not held for trading purpose and are not in similar line of
business as the Company, thus disclosing their fair value change in profit and loss will not reflect the purpose of holding.

Note 9 (vi): Impairment test for investment in a subsidiary

The Company assesses at the end of each reporting period whether there is objective evidence that investments in subsidiaries
are impaired.

Key assumptions considered by the Company in determining fair value less costs to sell is on the basis of Net Worth Approach. In
developing the assumptions relating to the recoverable amounts, the Company considered both internal and external evidences
as appropriate. If the assumptions considered change in future due to possible effect of uncertainties, this could result in
additional impairments the effect of which may not have been estimated as at the date of the approval of these standalone
financial statements. Reversing of impairment provision happens when there are indicators that an impairment loss recognised in
a previous period may no longer exist or may have decreased, on a sustainable basis.

c. Terms/ right attached to equity shares

i) The Company has only one class of equity shares having a par value of H10 per share. Each holder of equity shares is
entitled to one vote per share.

ii) The Company declares and pays dividend in Indian rupees. The dividend when proposed by the Board of Directors, is subject
to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation, the shareholders of
equity shares are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.

d. Other disclosures

The Company has not reserved any equity shares under options and contracts for the sale of shares.

f. Buy-back of equity shares

The Board of Directors at its meeting held on May 16, 2025, approved the buy-back of Equity Shares of the face value of H10/- each
at a price not exceeding H185/- per Equity Share ("Maximum Buyback Price”) amounting upto H20 crores ("Maximum Buyback
size, excluding transaction costs and tax on Buyback”), through the "tender offer” route, using stock exchange mechanism as
prescribed under Securities and Exchange Board of India (Buyback Securities) Regulations, 2018 (the "Buyback Regulations”)
and such other circulars or notifications issued by the Securities and Exchange Board of India and the Companies Act, 2013
and rules made thereunder, as amended from time to time.

Accordingly, the Company has completed buy-back for the year ended March 31, 2026 of 10,81,081 equity shares of H10/- each
[representing 1.65% of total pre buy-back paid up equity share capital of the Company] from the shareholders of the Company
at a price of H185 per equity share for an aggregate amount of H20 crores. The Company has extinguished 10,81,081 fully paid up
equity shares of H10 each (in dematerialized form) and the fully paid up equity share capital of the Company (post extinguishment)
is 6,43,06,509 shares of H10/- each. The Company has funded the buy-back (including transaction costs) from its retained
earnings. In accordance with section 69 of the Companies Act, 2013, the Company has transferred an amount of H1.08 crores
to capital redemption reserve which is equal to the nominal value of the shares bought back from retained earnings.

A. Reserves and Surplus

(i) Capital Redemption Reserve

Capital redemption reserve was created against buy-back of equity shares.

(ii) General Reserve

This represents appropriation of profit after tax by the Company.

(iii) Storage fund/reserve for molasses

The storage fund for molasses has been created to meet the cost of construction of molasses storage tank as required
under Uttar Pradesh Sheera Niyantran (Sansodhan) Adesh, 1974. The Company transfers amount from this reserves to
general reserve on utilisation of the same towards creation of new molasses storage facility.

(iv) Retained Earnings

This comprise the Company's undistributed profit after tax.

B. Other Reserves

(i) Remeasurement of post employment benefit obligation

Remeasurement of post employment benefit obligation represents remeasure gain/(loss) of defined benefit obligation

(ii) FVOCI Equity Reserve

The Company has elected to recognise changes in fair value of certain investments in equity securities through OCI as
Other Reserves. The Company transfers amount from this reserves to retained earnings when the relevant investment is
sold and realised.

(iii) Debt Instruments through Other Comprehensive Income

The Company has elected to recognise changes in fair value of certain investments in debt securities through OCI as Other
Reserves. Such fair value gain or losses will be reclassified to statement of profit and loss in the period in which the gain
or losses realised.

Note 36 (iii)

Pursuant to New Income Tax Act, 2025 the domestic companies have the option to pay corporate income tax @ 22% plus applicable
surcharge and cess (New Tax Regime) or continue to pay corporate income tax @ 30% plus applicable surcharge and cess subject to
certain conditions w.e.f. financial year commencing from April 1, 2026 (FY 2026-27) and thereafter. As at the year end, the Company
has reassessed impact and decided to opt for the New Tax Regime from FY 2026-27 onwards. Accordingly, the deferred tax liability
as at March 31, 2026 has been computed using tax rate under new tax regime.

b) The Company has executed Share Purchase Agreement (SPA) on October 28, 2025 to purchase 4,72,87,537 equity
shares of Venus India Asset-Finance Private Limited (Target), representing 51% of the issued and paid-up share capital
of the Target, from Venus India Structured Finance Master Limited (in liquidation) subject to the completion of certain
conditions as specified under the SPA and necessary approvals of the Reserve Bank of India and other authorities, if any,
under applicable regulation

III. Other Legal Matters

i) Honourable Allahabad High Court in the case of PIL Rastriya Kisan Mazdoor Sangathan v/s State of U.P. passed a final order
on March 09, 2017 directing the Cane Commissioner to decide afresh the issue as to whether the Sugar Mills are entitled
for waiver of interest on the delayed payment of the price of sugarcane for the seasons 2012-13, 2013-14 and 2014-15 under
the provisions of Section 17(3) of the U.P. Sugarcane (Regulations of Supply and Purchase) Act, 1953 (in short 'the Act'). The
matter is yet to be finalised and pending before Supreme Court in SLP filed by the RKMS. Based on the legal review of the
facts of this case, possibility of liability crystalizing is remote and hence no provision is considered necessary.

ii) Cane Societies are in dispute with the State Government of Uttar Pradesh with regard to a retrospective partial waiver of
society commission payable by the sugar mills for the crushing seasons 2012-13, 2014-15 and 2015-16. The company was
the beneficiary of such a waiver. The matter is yet to be finalised and is pending before Supreme Court in SLP filed by
the Association.

iii) Hon'ble National Green Tribunal (NGT) vide its order dated September 1, 2021 imposed an environmental compensation of
H20 crores i.e. H5 Crores each on Dhampur Sugar and Distillery units of the Company and Asmoli Distillery and Meerganj
Unit, since demerged into Dhampur Bio Organics Limited and constituted a committee to assess the damage caused,
if any, to the environment. Management believes that while imposing the environmental compensation there was no
evidence on record before NGT about the damage caused to the Environment. The said order of NGT was challenged by
the Company before Hon'ble Supreme Court wherein stay has been granted in the matter. The report of the Committee has
been filed with Hon'ble Supreme Court. The matter is at stage of final hearing.

iv) The Collector and Tax Assessing authorities has on December,2022 raised demands for the arrears of purchase tax for the
sugar season 2016-17 aggregating to H1.66 Crores in respect of purchase tax due on sugar stock held by mill as on 30.06.2017,
the date at which the purchase tax has been subsumed in the Goods and Service Tax. The Company has paid GST on sale of
said stock. Levy of purchase tax on sugar stock held by the industry as on 30.06.2017 has been challenged by U.P Sugar Mills
Association before Lucknow Bench of Hon'ble Allahabad High Court in writ petition No 27169 of 2018 and the same is still
pending for adjudication. However, the Hon'ble High Court has advised the authorities to desist from adopting any coercive
measure till the final decision of the case. The management estimates that probability of crystallization of aforesaid demand
is remote. Therefore aforesaid amount has not been considered as contingent liability.

v) In June 2025, Excise Department of Uttar Pradesh decided to impose Export Pass Fee on Denatured Spirit under the U.P.
Excise Import, Export, Transport and Possession of Denatured Spirit (24^th Amendment) Rules, 2004 (2004 Rules).

Pursuant thereto, a demand notice was issued in July 2025 to distillery unit of the Company for H37.73 Crores towards Export
Pass Fee for the period 2018 to July 2025.

In reply, the Company contended that 2004 Rules had already been struck down by Hon'ble Allahabad High Court in a
similar matter.

Thereafter, U.P. Sugar Mills Association filed Writ Petition before Hon'ble Lucknow Bench, Allahabad High Court challenging
the recovery notices.

The Hon'ble High Court in July 2025, directed the Excise Department to allow dispatches of Ethanol and observed that the
2004 Rules are presently non-existent and are not automatically revived by the judgment passed by Hon'ble Supreme Court in
another case. Consequently, the demand raised on the basis of the said Rules was held to be unenforceable.

In view of the above, the management estimates that probability of crystallization of aforesaid demand is highly remote.
Therefore aforesaid amount has not been considered as contingent liability.

vi) During the current year, the Income Tax Department conducted action under Section 132 of the Income Tax Act, 1961 at head
office and other premises of the Company from October 29, 2025 to November 3, 2025. The consequent proceedings are
ongoing, and there is no outcome till date. After considering all available information and facts, the Company is of the view that
no adjustment is required in these financial results.

Note 39: Government Grants

The Company is eligible to receive various grants/ financial assistance as per the schemes announced by Central and UP State
Government for Sugar Industry. The Company has recognized these Government grants in the following manners:

Sub Notes :

a) The Central Government, vide its Notification No. 1(10)/2018-SP-I dated July 19, 2018, notified a Scheme with a view to increase
production of ethanol by enhancing the number of working days of existing distillery in a year by installation new Incineration
boilers or by adoption any other matter approved by Central Pollution Control Board (CPCB) for Zero Liquid Discharge (ZLD) in
a distillery. Every Sugar Mill which fulfils the conditions stipulated in the scheme will be eligible for the interest subvention @
6% per annum or 50% of the rate of interest charged by bank, whichever is lower, on the loans to be extended by banks, shall
be borne by Central Government for five years.

The Company has complied with all the conditions as stated in the scheme and submitted the claim for interest subvention.
Accordingly, interest subvention accrued under the Scheme H4.11 crores and out of which H2.55 crore has been received.

b) The Central Government vide it's notification on April 22, 2022, notified a scheme for extending financial assistance to Project
proponents for enhancement of their distillery capacity or to set up distillery for producing 1^st Generation (1G) ethanol from feed
stocks such as cereals (rice, wheat, barley, corn & sorghum), sugarcane, sugar beet etc. Sugar Mill which fulfils the conditions
stipulated in the scheme is eligible for the interest subvention @ 6% per annum or 50% of the rate of interest charged by bank,
whichever is lower, on the loans extended by bank.

The Company has complied with all the conditions as stated in the scheme and submitted the claim. Accordingly, interest
subvention accrued under the Scheme till March 31, 2026 by H12.45 crores and out of which H7.08 crore has been received till
March 31, 2026.

c) The State Government, with a view to improve the liquidity position of private sector sugar mills of the State enabling them to
clear the cane price arrears of crushing seasons 2016-17 and 2017-18 and timely settlement of cane price as per State Advised
Price (SAP) fixed by the State Government, to the sugarcane farmers, has notified the scheme, namely "Scheme for Extending
Financial Assistance to Sugar Undertakings-2018" vide notification No.: 15 /2018/1719/46-3-18-3 (36-A) / 2018 dated October
16, 2018. The Company had availed the term loan in the F.Y 2018-19 under the Scheme, wherein, the government grant has been
received in form of Subsidized rate of interest.

d) The Company was eligible for various incentives under U.P. Sugar Incentive Promotion Policy, 2004 (the scheme) which was
subsequently withdrawn by the State Government. Petition filed by the Company, The Hon'ble Allahabad High Court vide order
dated February 12, 2019 has set aside and quashed the policy withdrawal order and directed the State government to give the
benefits under the scheme after examination of incentive claims filed by the respective units. The Company is in the process
of filing its claim under the "Scheme".

Note 40: Disclosures as required by the Listing Agreement

Loans and Advances given to Subsidiary Companies: Amount Outstanding H Nil (Previous Year H Nil) Maximum Principal Amount

Outstanding H Nil (Previous Year H Nil)

C. Terms and Conditions and Settlement

The transactions with the related parties are made on term equivalent to those that prevail in arm's length transactions. The
assessment is under taken each financial year through examining the financial position of the related party and in the market
in which the related party operates. Outstanding balances at the year end are un-secured and settlement occurs in cash.

a. Identification of Segments

The Company's operating segments are established on the basis of those components of the Company that are evaluated
regularly by the Board of Director's (the 'Chief Operating Decision Maker' as defined in Ind AS 108 - 'Operating Segments').
The chief operational decision maker monitors the operating results of its Business Segments separately for the purpose of
making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit
or loss and is measured consistently with profit or loss in the financial statements.Operating Segments have been identified
by the management and reported taking into account, the nature of products and services, the differing risks and returns, the
organization structure, and the internal financial reporting systems.

b. Operating Segments

The Company is organized into six main business segments, namely

? Sugar which consists of manufacture and sale of Sugar and its byproducts,

? Chemicals which consists of manufacture and sale of Ethyl Acetate,

? Ethanol which consists of manufacture and sale of RS, Ethanol, ENA, Industrial alchohol,

? Potable Spirits which consists of manufacture and sale of Country liquor,

? Power which consists of co-generation and sale of power,

? Others which consists of sale of petrol and agricultural products.

No operating segments have been aggregated in arriving at the aforesaid reportable segments of the Company.

c. Geographical segments

The Company is domiciled in India. The amount of revenue from external customers broken down by the location of the
customers is shown in the table below. (refer table iii. of point e)

d. Segment Accounting Policies:

In addition to the material accounting policies applicable to the operating segments as set out in note 2, the accounting
policies in relation to segment accounting are as under:

Segment revenue and results:

Revenue and expenses directly attributable to segments are reported under each reportable segment.
Other expenses and incomes which are not directly attributable to any business segment are shown as unallocable expenses
(net of unallocated income).

Segment assets and liabilities:

Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment.
Unallocated assets include deferred tax, investments, interest bearing deposits loans to subsidiary and income tax refund.
Unallocated liabilities include interest bearing liabilities, tax provisions and deferred tax. Capital expenditure pertains to
additions made to property, plant and equipment during the year and includes capital work in progress.

Inter segment sales/transfer:

Transactions between segments are primarily for materials which are transferred at cost /market determined prices. These
transactions are eliminated in consolidation.

iv) Information about major customer

Number of customers individually accounted for more than 10% of the revenue in the year ended March 31,2026 - NIL
(Previous year - NIL)

Note 44: Employees benefits

The required disclosures of employees benefits as per Indian Accounting Standard (Ind AS) -19 are given hereunder :-

(i) Defined contribution plan :

Details of contribution to defined contribution plan to Regional Provident Commissioner and the Central Provident Fund
recognized as expense during the period are as under :

(ii) Defined benefit plan :

(a) In respect of defined benefit scheme of gratuity (Based on actuarial valuation) :

The gratuity plan is governed by the payment of Gratuity Act,1972. Under the said Act an employee who has completed five
years of services is entitled to specific benefit. The Gratuity Plan provides a lump-sum payment to vested employees at
retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary
and the tenure of employment with the Company.

The Company is exposed to various risks in providing the above gratuity benefit which are as follows:

Interest Rate risk : The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an
increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability
(as shown in financial statements).

Salary escalation risk : The present value of the defined benefit plan is calculated with the assumption of salary increase
of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of
increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

Actual mortality & disability : deaths & disability cases proving lower or higher than assumed in the valuation can impact
the liabilities.

Discount Rate : Reduction in discount rate in subsequent valuations can increase the plan's liability.

Investment Risk : If Plan is funded then assets liabilities mismatch & actual investment return on assets lower than the
discount rate assumed at the last valuation date can impact the liability.

Withdrawals : Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at
subsequent valuations can impact Plan's liability.

The following tables summaries the components of net benefit expense recognized in the statement of Profit and Loss
a) Details of post retirement plans are as follows:

The current service cost and the net interest expense for the year are included in the 'Employee benefits expense'
line item in the statement of profit & loss. The remeasurement of the net defined benefit liability is included in other
comprehensive income.

Sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation
as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may
be correlated.

The sensitivity analysis above has been determined based on a method that extrapolates the impact on defined benefit
obligation as a result of reasonable changes in key assumptions occurring as at the balance sheet date.

All sensitives are calculated using the same actuarial method as for the disclosed present value of the defined benefits
obligation at year end.

b) In respect of funded defined contribution scheme of provident fund :

The Company's contribution to defined benefit plan to the irrecoverable trust, set up by the Company aggregating
to H4.98 Crore (P. Y. H4.65 Crore) has been recognized in statement of profit and loss account. The Company is under
obligation to mark-up any short fall in the fund.

The plan assets have been invested as per the regulations of Employees' Provident Fund Organisation (EPFO).

Note 45: Financial instruments - Accounting, classification and fair value measurement

I. Financial instruments by category

The criteria for recognition of financial instruments is explained in accounting policies for Company:

II Method and assumptions used to estimate fair values:

1. Fair value of cash and cash equivalents, bank balances other than cash and cash equivalents, trade and other receivables,
loans including current investments and other current financial assets, short term borrowings from banks and financial
institutions, trade and other payables and other current financial liabilities approximate their carrying amounts due to the
short-term nature of these instruments.

2. Borrowings (non-current) consists of loans from banks/government authorities and other financial liabilities (non-current)
including interest accrued but not due on public deposits.

3. The fair value of forward foreign exchange contracts is calculated as the present value determined using forward exchange
rates, currency basis spreads between the respective currencies and interest rate curves.

III Fair Value Hierarchy

The fair value of the financial assets and financial liabilities are included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following table provides the fair value measurement hierarchy of Company's asset and liabilities, grouped into Level 1 to
Level 3 as described below :-

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
or indirectly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

Management uses its best judgement in estimating the fair value of its financial instruments. However, there are inherent
limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented
above are not necessarily indicative of the amounts that the Company could have realized or paid in sale transactions as of
respective dates. As such, the fair value of financial instruments subsequent to the reporting dates may be different from the
amounts reported at each reporting date. In respect of investments as at the transaction date, the Company has assessed the
fair value to be the carrying value of the investments as these companies were in their initial years of operations.

The Company's activities are exposed to market risk, credit risk and liquidity risk. The Company principal financial liabilities
comprise borrowings, trade and other payables. The main purpose of these financial liabilities is to manage finances for the
Company's operations. The Company principal financial asset includes loan , trade and other receivables, and cash and other
financial assets that arise directly from its operations.

I. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other risks, such as regulatory
risk and commodity price risk. Financial instruments affected by market risk include loans and borrowings, trade receivables
and trade payables involving foreign currency exposure, and inventories.

The sensitivity analysis in the following sections relate to the position as at March 31, 2026 and March 31, 2025. The sensitivity
of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is based on the financial
assets and financial liabilities held at March 31, 2026 and March 31, 2025.

(a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates.

As the Company does not have exposure to any floating-interest bearing assets, or any significant long-term fixed
interest bearing assets, its interest income and related cash inflows are not affected by changes in market interest rates.
Consequently, the Company's interest rate risk arises mainly from borrowings obligations with floating interest rates.

(b) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. A) The Company used foreign currency forward contracts to hedge its risks associated with
foreign currency fluctuations relating to certain firm commitments. The use of foreign currency forward contracts is
governed by the Company's strategy approved by the Board of Directors, which provide principles on the use of such
forward contracts consistent with the Company's Risk Management. The outstanding forward exchange contracts
entered into by the Company at the year end and thereafter disclosed.

(c) Regulatory risk

Sugar industry is regulated both by Central Government as well as State Government. Central and State Governments
policies and regulations affects the Sugar industry and the Company's operations and profitability. Distillery business is
also dependent on the Government policy.

(d) Commodity price risk

Sugar industry being cyclical in nature, realizations get adversely affected during downturn. Higher cane price or higher
production than the demand ultimately affect profitability. The Company has mitigated this risk by well integrated
business model by diversifying into co-generation and distillation, thereby utilizing the by-products.

II. Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company's sugar and potable spirits sales are mostly on cash. Power and ethanol are sold to government
entities, thereby the credit default risk is significantly mitigated. Chemicals are sold after due diligence of customers/advance
payment thereby the credit default risk is also significantly mitigated.

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

Financial assets are written off when there is no reasonable expectation of recovery, however the Company continues to
attempt to recover the receivables. Where recoveries are made, subsequently these are recognized in the statement of profit
and loss.

The Company major exposure of credit risk is from trade receivables, which are unsecured and derived from external customers.
Expected credit loss for trade receivable on simplified approach :

The ageing analysis of the trade receivables (gross of provision) has been considered from the date the invoice falls due:

III. Liquidity Risk

Liquidity risk is defined as the risk that Company will not be able to settle or meet its obligation on time or at a reasonable price.
The Company's objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements.
The Company's management is responsible for liquidity, funding as well as settlement management. In addition, processes and
policies related to such risk are overseen by senior management. Management monitors the Company's net liquidity position
through rolling, forecast on the basis of expected cash flows.

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date
based on contractual undiscounted payments:

Note 47: Capital Management
(a) Risk Management

For the purpose of the Company's capital management, capital includes issued equity capital, and other equity reserves
attributable to the equity shareholders of the Company. The Company's capital management is intended to maximize the
return to shareholders for meeting the long-term and short-term goals of the Company through the optimization of the debt
and equity balance.

The Company manages its capital structure and makes adjustments in light of changes in the financial condition and the
requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend
payment to shareholders, return capital to shareholders (buy back its shares) or issue new shares.

In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it
meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements.
The Company has complied with these covenants and there have been no breaches in the financial covenants of any interest¬
bearing loans and borrowings.

The Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and
to sustain future development of the business. The primary objective of the Company's Capital Management is to maximize
the shareholder's value. Management also monitors the return on capital. The Board of Directors seek to maintain a balance
between the higher returns that might be possible with higher levels of borrowing and the advantages and security afforded
by a sound capital position. However, sugar being a seasonal industry, it is very highly capital and working capital intensive,
therefore required to raise need based short term and long term debt for smooth running of the operations.

The Company monitors capital using a gearing ratio calculated as below:

Note 49: Events occurring after the balance sheet date

No adjusting or significant non adjusting events have occurred between the reporting date and date of authorization of
financial statements.

Note 50 : Borrowings secured against the current assets and reclassification of previous year figures :-
Note 50 (i): Details of Borrowing secured against the current assets:

The Company has obtained working capital limit from consortium of banks, namely Punjab National Bank (Lead Banker), ICICI Bank,
Prathma UP Gramin Bank and District Cooperative Banks (together referred to as "Working Capital Lenders”). The Company submits
periodical statements with Lead Banker, details of which are as follows:

Note 50 (ii): Reason for discrepancies :

The Quarterly Returns/ Statements (referred to as "Bank returns”), which were prepared based on provisional books of accounts
and filed before the completion of all financial statement closure activities including Ind AS related adjustments/ reclassifications,
as applicable. Also, there were exclusion of certain current assets in the Bank returns filled with the Banks, which led to these
differences between the Financial Statements and the bank return.

Note 50 : Borrowings secured against the current assets and reclassification of previous year figures

(Contd.)

Further, difference also arises on account of different valuation methodology adopted for valuing the finished goods stock in the
books and for the purpose of reporting in the bank return. In the books, stock of finished goods is recorded at lower of cost or
net realisable value but for bank purposes it is taken at a rate which is presently lower than book valuation. However, there is no
material difference in reporting the quantity of stock in the bank returns as compared to books of accounts.

Note 50 (iia): The previous year's figures are reclassified on account of certain reclassification. The comparative statements of
original and reclassified amounts are as under :

Note 51: Other Statutory Information

(i) The Company does not have any transactions with struck off companies.

(ii) The Company does not have any creation, modificaiton or satisfaction of charges which are yet to be registered with ROC
beyond the statutory period, except for statisfaction of charge as below:

(iii) The Company has not traded or invested in Crypto currency or Virtual Currency during the period/year.

(iv) The Company has not advanced or granted loan or invested (either from borrowed funds or share premium or any other
sources or kind of funds) any funds to or in any other persons or entities, including foreign entities ("Intermediaries”), with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(v) The Company has not received any funds from any persons or entities, including foreign entities ("Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company shall, 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.

(vi) The Company has not raised funds on short term basis which have been utilised for long term purposes.

Note 51: Other Statutory Information (Contd.)

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

(viii) The Company had not been declared a wilful defaulter by any bank or financial institution or other lender (as defined under the
Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank
of India. The company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to
any lender.

(ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017, as amended.

(x) The Company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.

(xi) During the year, amount of H0.22 crores transferred to the Investor Education and Protection Fund by the Company.

Note 52: Other Notes

(i) In the opinion of the Board of Directors, Trade Receivables, other current financial assets, and other current assets have a
value on realization in the ordinary course of the Company's business, which is at least equal to the amount at which they are
stated in the balance sheet.

(ii) The balances of some of the accounts classified as Trade Payables, Trade Receivables, etc. are in the process of reconciliations/
confirmation. In the opinion of Board of directors, the result of such exercise will not have any material impact on the
carrying value.

(iii) The Board of Directors at its meeting held on May 28, 2026 has approved the Standalone Financial Statement for the year
ended March 31, 2026.