GSP Crop Science Ltd. இன் கணக்கு குறிப்புகள்

4.15 Provisions, Contingent Liabilities and
Contingent Assets

A provision is recognised when the Company
has a present obligation as a result of past
events and it is probable that an outflow
of resources will be required to settle the
obligation in respect of which a reliable
estimate can be made. Provisions (excluding
retirement benefits) are not discounted to
their present value and are determined based
on the best estimate required to settle the
obligation at the balance sheet date. These
are reviewed at each balance sheet date and
adjusted to reflect the current best estimates.

A contingent liability is a possible obligation
that may arise from past events whose
existence will be confirmed by the occurrence
or non-occurrence of one or more uncertain
future events beyond the control of the
company or a present obligation that is not
recognised because it is not probable that
an outflow of resources will be required to
settle the obligation. A contingent liability is
not recognized but its existence is disclosed
in the financial statements. Contingent assets
are recognised and disclosed only when an
inflow of economic benefits is probable in the
financial statements.

4.16 Segment Reporting

The Company identifies segments as
operating segments whose operating results
are regularly reviewed by the Management
to make decisions about resources to be
allocated to the segment and assess its
performance and for which discrete financial
information is available.

Segment revenue, segment expenses,
segment assets and segment liabilities have
been identified to segments on the basis of
their relationship to the operating activities of
the segment.

Inter-segment revenue is accounted on the
basis of transactions which are primarily
determined based on market / fair value
factors.

4.17 Earnings Per Share

Basic earnings per share is computed by
dividing the profit / (loss) after tax (including
the post-tax effect of extraordinary items,
if any) by the weighted average number of
equity shares outstanding during the year.
Diluted earnings per share is computed by
dividing the net profit / loss attributable to
ordinary equity holders of the Company by
the weighted average number of ordinary
shares outstanding during the year adjusted
for the weighted average number of ordinary
shares that would be issued on conversion of
all the dilutive potential ordinary shares into
ordinary shares.

The weighted average number of shares
classified as equity in nature outstanding is
adjusted for events such as bonus issue, share
split, that have changed the number of equity

shares outstanding, without a corresponding
change in resources. For the purpose of
calculating diluted earnings per share, the
net profit or loss for the year attributable to
equity shareholders of the Company and
the weighted average number of shares
outstanding during the year are adjusted
for the effects of all dilutive potential equity
shares.

4.18 Dividends

Dividends are recognised when they become
legally payable. In the case of interim dividends
to equity shareholders, this is when declared
by the directors. In the case of final dividends,
this is when approved by the shareholders at
the annual general meeting.

4.19 Statement of Cashflows

Statement of cashflow is prepared as per
indirect method prescribed in the Ind AS 7
''Statement of Cash Flows''.

4.20 Events after the reporting period

Adjusting events are events that provide
further evidence of conditions that existed at
the end of the reporting period. The financial
statements are adjusted for such events
before authorisation for issue.

Non-adjusting events are events that are
indicative of conditions that arose after the
end of the reporting period. Non-adjusting
events after the reporting date are not
accounted, but disclosed if material.

>. RECENT ACCOUNTING PRONOUNCEMENTS

i) Ind AS 117 - Insurance contracts

On August 12, 2024, MCA announced the
amendments to the Companies (Indian
Accounting Standards) Rules, 2015, applicable
from August 12, 2024, as below:

The amendment outlines scenarios where
Ind AS 117 does not apply. These include
warranties from manufacturers, dealers, or
retailers related to goods or services and
employer obligations from employee benefit
plans. It also excludes retirement benefit
obligations from defined benefit plans and

contractual rights or obligations tied to future
use of non-financial items, such as certain
license fees and variable lease payments.

However, the Company is not engaged in
insurance contracts, hence do not have
any impact on the Standalone Financial
Statement.

ii) Accounting for sale and leaseback
transaction the books of seller - lessee -
Amendments to Ind AS 116

On September 09, 2024, MCA announced
the amendments to the Companies (Indian
Accounting Standards) Rules, 2015, applicable
from September 09, 2024, as below:

The amendment require seller-lessee shall
determine ''lease payments'' or ''revised lease
payments'' in a way that the seller-lessee
would not recognise any amount of the
gain or loss that relates to the right of use
retained by the seller-lessee. These rules
aim to streamline accounting processes and
ensure compliance with the updated Ind AS
requirements. However, the Company is not
engaged in sale and lease back transactions,
hence do not have any impact on the
Standalone Financial Statement.

iii) I nd AS 118 - Presentation and Disclosure in
Financial Statements

The Ministry of Corporate Affairs (MCA), as
part of India''s continued convergence with
IFRS, has initiated the process for introduction
of Ind AS 118 - Presentation and Disclosure
in Financial Statements, which is converged
with IFRS 18 issued by the IASB in April 2024.
Ind AS 118 is intended to replace Ind AS 1
(Presentation of Financial Statements) and
focuses on improving how entities present
and communicate financial performance,
particularly in the Statement of Profit and
Loss.

This standard is proposed to be applicable
for annual reporting periods beginning on or
after April 01, 2027, subject to final notification
by the MCA through amendment to the
Companies (Indian Accounting Standards)
Rules.

(d) The Company has one class of equity shares having a par value of '' 10 per share. Each holder of equity share
is entitled to one vote per share held. The dividend if any proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In
the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company
after distribution of all preferential amounts if any, in proportion to their shareholding.

(e) Bonus Shares and Shares issued for Consideration other than cash:

- The Company has issued bonus shares in the previous year but not issued shares for consideration other
than cash during the reporting period.

- The Shareholders of the Company meeting held on August 24, 2024, had approved and allotted 13,006,250
equity shares in ratio of 1 shares for every 2 shares held for a face value of '' 10/- (Rupees Ten only) each
by way of bonus issue aggregating to '' 130.06 millions fully paid up, to the existing equity shareholders
of the Company or to the beneficial owners in the same proportion of their equity shares holding in the
Company. The record date for the said Bonus issue was August 23, 2024.

- The Shareholders of the Company, at their Extra-Ordinary General Meeting held on June 27, 2024, had
approved the sub-division of the face value from '' 100/- to '' 10/- per share. The record date for the said
sub-division was July 26, 2024.

- The Board of Directors of the Company, at its meeting held on 14^th February, 2024 and vide approval of the
Members of the Company by way of Special Resolution passed on 23^rd February, 2024 approved buyback
of upto 160,000 (One Lakh Sixty Thousand) fully paid-up Equity Shares of face value of '' 100/- (Rupees
Hundred only) each (representing 5.82 % of the total number of fully paid-up Equity Share Capital of the
Company) on a proportionate basis, through the ''Tender Offer'' route in accordance with the Companies
Act, 2013 (''the Act'') and rules made thereunder, at a price of '' 3,431/- (Rupees Three Thousand Four
Hundred Thirty One only) per Equity Share, payable in cash for an aggregate consideration not exceeding
'' 548,960,000/ (Rupees Fifty Four Crore Eighty Nine Lakh Sixty Thousand only), being 13.67% of the
aggregate of paid-up capital and free reserves of the Company, as per unaudited interim condensed
special purpose standalone financial statements of the Company as on 31^st December, 2023 (within
25% of the aggregate of paid-up capital and free reserves of the Company as on 31^st December, 2023).
Pursuant to the above 146,753 number of shares were tendered by the share holder for Buyback.

- The Board of Directors of the Company, at its meeting held on 2^nd April, 2022 and vide approval of the
Members of the Company by way of Special Resolution passed on 5^th April, 2022 approved buyback of
upto 2,00,000 (Two Lakh) fully paid-up Equity Shares of face value of '' 100/- (Rupees Hundred only)
each (representing 6.78 % of the total number of fully paid-up Equity Share Capital of the Company)
on a proportionate basis, through the ''Tender Offer'' route in accordance with the Companies Act, 2013
(''the Act'') and rules made thereunder, at a price of '' 5,524.50 (Rupees Five Thousand Five Hundred
Twenty Four and Fifty paisa only) per Equity Share, payable in cash for an aggregate consideration not
exceeding '' 110,49,00,000/- (Rupees One Hundred and Ten Crore Forty Nine Lakh only), being 24.34% of
the aggregate of paid-up capital and free reserves of the Company, as per unaudited interim condensed
special purpose standalone financial statements of the Company as on 31^st October, 2021 (within 25% of
the aggregate of paid-up capital and free reserves of the Company as on 31^st October, 2021). Pursuant to
the above 2,00,000 number of shares were tendered by the share holder for Buyback.

Nature and Purpose of Reserves

Capital Redemption Reserve - Capital Redemption Reserve is created for redemption of equity shares from
its retained earnings. The amount in Capital Redemption Reserve is equal to nominal amount of the equity
shares redeemed. Company has utilised Capital Redemption Reserve for issuance of bonus shares.

General Reserve - General Reserve is a free reserve created by the Company by transfer from Retained
earnings for appropriation purposes.

Retained earnings - Retained earnings are the profits/(loss) that the Company has earned/incurred till date,
less any transfers to general reserve, dividends or other distributions paid to shareholders. Retained earnings
include re-measurement loss / (gain) on defined benefit plans, net of taxes that will not be reclassified to
Statement of Profit and Loss.

Securities Premium - Securities premium reserve is created due to premium on issue of shares. These reserve
is utilised in accordance with the provisions of the Companies Act 2013.

on entire current assets of the company and second pari-passu charge over the entire property, plant
and equipment of the Group. The loan carries interest rate of 6 months MCLR plus 1%.

(ii) Loan from State Bank of India amounting to '' 7.25 millions (P. Y.: '' 50.75 millions). The outstanding balance
is repayable in 2 equal monthly instalments. The loan is secured by second pari-passu charge on entire
current assets of the company and second pari-passu charge over the entire property, plant and
equipment of the company. The loan carries interest rate of 6 months MCLR plus 1%.

(iii) Loan from HDFC Bank amounting to '' 2.32 millions (P. Y.: '' 16.30 millions). The outstanding balance is
repayable in 2 equal monthly instalments. The loan is secured by second pari-passu charge on entire
current assets of the company and second pari-passu charge over the entire property, plant and
equipment of the company. The loan carries interest rate of 12 months MCLR plus 1%.

(iv) Loan from Citi Bank NA amounting to '' Nil (P. Y.: '' 250.00 millions). The loan is to be secured by first pari-
passu charge over the entire property, plant and equipment of the Company located at plot no. 2, GIDC,
Nandesari, Dist. Baroda. And The loan is to be secured by second pari-passu charge on entire current
assets of the company and second pari-passu charge over the entire property, plant and equipment of
the company except property, plant and equipment located at plot no. 2, GIDC, Nandesari, Dist. Baroda.
The loan carries interest rate of 7.89%. Investments in the form of fixed Deposit of '' 25.00 millions is lien
marked in favour of Citi Bank.

(v) Loan from TATA Capital Financial Services Ltd. amounting to '' Nil (P. Y.: '' 159.30 millions). The loan carries
interest rate of LTLR less 9.75%. Investments wide Mutual Fund in ICICI Prudential Short Term Fund
aggregating to '' 121.94 million are lien marked in favour of Tata Capital Financial Services Ltd. (refer note
8).

(vi) Vehicle loans amounting to '' 3.29 millions (P. Y.: '' 7.44 millions) are secured against the hypothecation
of respective vehicles. Vehicle Loans carry interest from 7.19 % to 7.80 %. The outstanding amount is
repayable in 7 to 16 monthly instalments which include the amount of Interest.

Notes:

(i) Working Capital Loans include Cash Credit and Working Capital Demand Loans from Banks and Non¬
Banking Financial Group under consortium led by State Bank of India. These Working Capital loans are
secured by first pari-passu charge on entire current assets of the company and first pari-passu charge
over the entire property, plant and equipment of the company except property, plant and equipment
located at plot no. 2, GIDC, Nandesari, Dist. Baroda. The said Working Capital loans are also secured
by second pari-passu charge over the entire property, plant and equipment of the company located at
plot no. 2, GIDC, Nandesari, Dist. Baroda. The Working Capital Loans carries interest rate ranging from
marginal cost of lending rate/Repo Rate/91 Days T-Bill plus 1.00 % p.a. to 3.00 % p.a.

(ii) Unsecured working capital Loans from HDFC bank is repayable on demand and carries the interest rate

of 1 month T-Bill plus spread of 3.00% p.a.

(iii) Working Capital Loans include Cash Credit and Working Capital Demand Loans from Citi Bank NA.
These Working Capital loans are to be secured by first pari-passu charge on entire current assets of the
Company and first pari-passu charge over the entire property, plant and equipment of the Company
except property, plant and equipment located at plot no. 2, GIDC, Nandesari, Dist. Baroda. The said
Working Capital loans are also to be secured by second pari-passu charge over the entire property, plant
and equipment of the Company located at plot no. 2, GIDC, Nandesari, Dist. Baroda. The Working Capital
Loans carries interest rate ranging from 1 month T-Bill plus spread of 2.43% p.a.

(iv) The sales invoice discounting facility (Unsecured facility) from IDFC First Bank carries interest rate of
8.75% p.a.

The Term Loan and Working Capital loan from banks and financial institutions availed by the Company
are secured by personal Guarantee of Promotor Mr. Bhavesh Vrajmohan Shah and Mr. Tirth Shah.

(ii) Provision for Sales Return

The Company, as a trade practice, accepts returns from market. Provision is made for such returns
on the basis of historical experience, market conditions and specific contractual terms. At the time
of recognising provision for sales return expected reimbursement towards likely sales return is also
recognised, which is included in other current assets for the products expected to be returned.

34 AS PER IND AS 19 "EMPLOYEE BENEFITS", THE DISCLOSURES AS DEFINED IN THE ACCOUNTING STANDARD
ARE GIVEN BELOW:Defined Contribution Plans

The Company operates defined contribution retirement benefit plans for all qualifying employees in the form
of Provident Fund & Employee State Insurance Scheme.

Contribution to Defined Contribution Plans, recognised as expense for the year is as under:

Compensated absences and earned leaves

The Company''s current policy permits eligible employees to accumulate compensated absences up to a
prescribed limit and receive cash in lieu thereof in accordance with the terms of the policy.

Defined Benefit Plans

The Company operates through gratuity trust (funded), a defined benefit plan in form of gratuity plan covering
eligible employees, which provide a lump sum payment to employees at retirement, death, incapacitation
or termination of employment, of an amount based on the respective employees'' salary and the tenure of
employment.

These plans typically expose the company to actuarial risks such as investment risk, interest rate risk,
longevity risk and salary risk.

Investment risk

The present value of the defined benefit plan liability (denominated in Indian Rupee) is calculated using
a discount rate which is determined by reference to market yields at the end of the reporting period on
government bonds. For defined benefit plans, the discount rate is determined by reference to market yields at
the end of the reporting period on high quality corporate bonds when there is a deep market for such bonds;
if the return on planned asset is below this rate, it will create a plan deficit.

Interest risk

A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an
increase in the return on the plan''s investments.

Longevity risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the
mortality of plan participants both during and after their employment. An increase in the life expectancy of
the plan participants will increase the plan''s liability.

Salary risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan
participants. As such, an increase in the salary of the plan participants will increase the plan liability.

In respect of the plan, the most recent actuarial valuation of the present value of the defined benefit obligation
was carried out as at March 31, 2026. The present value of the defined benefit obligation, the related current
service cost and past service cost, were measured using the projected unit credit method.

The amounts recognized in the Company''s Standalone financial statements as at the year ended are as
under:

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

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit
obligations has been calculated using the projected unit credit method at the end of the reporting
period, which is the same as that applied in calculating the defined benefit obligation liability recognised
in the balance sheet.

l. Investment details of plan assets

The Plan assets are managed by Insurance group viz. SBI Life Insurance company Limited, Bajaj Allianz
Life Insurance Company Limited and Life Insurance Corporation of India which has invested the funds
substantially as under :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed
equity instruments that have quoted price. The fair value of all equity instruments which are traded in the
stock exchanges is valued using the closing price as at the reporting period.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded
bonds, over-the counter derivatives) is determined using valuation techniques which maximize the use of
observable market data and rely as little as possible on entity-specific estimates. If all significant inputs
required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is
included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification
asset included in level 3.

There are no transfer between level 1, 2 and 3 during the year.

The Company''s policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the
end of the reporting year.

Financial risk management objectives

The entity''s corporate treasury function provides services to the business, coordinates access to domestic
financial market, monitors and manages the financial risks relating to the operations of the entity through
internal risk reports which analyse exposures by degree and magnitude of the risk. These risks include market
risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

1 Market Risk management

Market risk refers to the possibility that changes in the market rates may have impact on the Company''s
profits or the value of its holding of financial instruments. The Company is exposed to market risks on
account of foreign exchange rates, interest rates and underlying investment prices.

(a) Foreign currency exchange rate risk:

The Company''s foreign currency risk arises from its foreign currency transactions. The fluctuation
in foreign currency exchange rates may have potential impact on the income statement and
equity, where any transaction references more than one currency or where assets/liabilities are
denominated in a currency other than the functional currency of the Company.

The carrying amount of Foreign Currency denominated monetary assets and monetary liabilities at
the end of the reporting year are as follows:

The Company is exposed to interest rate risk because it borrows funds at both fixed and floating
interest rates. The risk is managed by the Company by maintaining an appropriate mix between
fixed and floating rate borrowings. The Company''s exposures to interest rates on financial assets
and financial liabilities are detailed in the liquidity risk management section of this note.

Interest Rate Sensitivity Analysis

The sensitivity analysis below have been determined based on the exposure to interest rates for
both derivatives and non-derivative instruments at the end of the reporting period. For floating rate
liabilities, a 50 basis point increase or decrease is used when reporting interest rate risk internally to
key management personnel and represents management''s assessment of the reasonably possible
change in interest rates.

If interest rates had been 50 basis points higher/lower and all other variables were held constant,
the Company''s profit for the year ended March 31, 2026 would decrease/increase by '' 11.54 millions
(P.Y. '' 11.95 millions). This is mainly attributable to the Company''s exposure to interest rates on its
variable rate borrowings.

2 Credit risk management

Credit risk is the risk of financial loss arising from counterparty failure to repay or service debt according
to the contractual terms or obligations. Credit risk encompasses of both, the direct risk of default and
the risk of deterioration of creditworthiness as well as concentration of risks. Financial instruments that
are subject to concentrations of credit risk materially consists of trade receivables.

All trade receivables are subject to credit risk exposure. The Company''s exposure to credit risk is influenced
mainly by the individual characteristics of each customer. The demographics of the customer, including
the default risk of the industry and country, in which the customer operates, also has an influence on
credit risk assessment. Credit risk is managed through established policies, controls relating to credit
approvals and procedures for continuously monitoring the creditworthiness of customers to which the
Company grants credit terms in the normal course of business. The Company does not have significant
concentration of credit risk related to trade receivables.

Exposure to credit risk:

The carrying amount of financial assets represents the maximum credit exposure. The maximum
exposure to credit risk is '' 8,516.83 millions (P.Y. '' 5,151.92 millions) as at March 31, 2026, being the total
of the carrying amount of balances with banks, bank deposits, trade receivables, other financial assets
and investments in subsidiaries company, and these financial assets are of good credit quality including
those that are past due.

3 Liquidity risk management:

Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has
established an appropriate liquidity risk management framework for the management of the
Company''s short, medium and long-term funding and liquidity management requirements. The
Company manages liquidity risk by maintaining adequate reserves and banking facilities by
continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of
financial assets and liabilities.

Personal guarantees given by Promotor are covered under note 20. The Company during the year has
issued a financial guarantee of USD 3.15 millions to the bank on behalf of the GSP Agroquimica Do Brazil
LTDA.

Outstanding balances of the related parties at the period-end are unsecured and settlement occurs in
cash. For the year ended March 31, 2026, the Company has not recorded any impairment of receivables
relating to amounts owed by related parties. This assessment is undertaken each financial year through
examining the financial position of the related party and the market in which the related party operates.

Compensation of key managerial personnel

The remuneration of directors and other members of key managerial personnel during the year was as
follows:

39 SEGMENT REPORTING

The company is primarily engaged in one business segment, namely the agrochemical business, as
determined by the chief operating decision maker, in accordance with Ind-AS 108 "Operating Segments".
Therefore, there is only one reportable segment, namely agrochemical.

Considering the inter relationship of various activities of the business, the chief operating decision maker
monitors the operating results of its business segment on overall basis. Segment performance is evaluated
based on profit or loss and is measured consistently with profit or loss in the financial statements.

b) Information about major customer

During the year ended March 31, 2026, no single customer who contributed 10% or more to the Company''s
revenue.

40 DISCLOSURES UNDER THE MSMED ACT, 2006

Disclosure Under the Micro, Small and Medium Enterprises Development Act, 2006 are provided as under
for the year ended March 31, 2026 to the extent the Company has received intimation from the "Suppliers"
regarding their status under the Act.

41 LEASES

Disclosures as per Ind AS 116-Leases are as follows:

The Company has entered into lease agreements for leasehold land and office premises, with lease terms
typically ranging from 5 to 99 (for land lease) years. The obligations arising from these leases are secured
by the lessor''s title to the right-of-use assets. Generally, the Company faces restrictions on assigning or
subleasing these right-of-use assets.

The Company has also taken certain office premises on lease with lease terms of 12 months or less, for which
it applies the ''short-term lease'' recognition exemptions. The expense related to such short term leases are
recognised directly in ''Profit and loss statement'' included under the head ''Rent expenses''.

44 DISCONTINUED OPERATIONS

• On March 22, 2024 by way of Board Resolution, The Company decided to discontinue its Plasticizer
business. Plasticizer Business consisted of manufacturing in the parent company and trading in the then
Subsidiary Indo GSP Chemicals Private Limited (""IGCPL"").

• On March 22, 2024 as a part of a strategic move, during the fiscal year ending March 31, 2024, the
Company entered into a Share Purchase Agreement (SPA) with Kappa Trust and Beta Trust (members of
the ''promoter group'') to sell its entire equity stake in IGCPL. This transaction resulted in a gain of '' 38.00
Million in the standalone financial statements in FY 2023-24.

• Further as per the terms of the agreement, the Company has discontinued the manufacturing of
Plasticizer products in its own name and initiated job work for IGCPL by using the Property, Plant, and
Equipment''s related to the Plasticizer segment in its normal operations. Other assets and liabilities of
the company pertaining to plasticizer business were classified as ""Asset held for sale"" and ""Liabilities
directly associated with asset classified as held for sale"" on March 31, 2024 and financial results for the
relevant year/period have been reclassified to reflect this change.

• Subsequently on 03 September 2024, Company discontinued the operations related to the Plasticizer
business.

45 ADDITIONAL REGULATORY DISCLOSURE AS PER SCHEDULE III OF COMPANIES ACT, 2013

Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance

Sheet as given in Part I of Division II of Schedule III to the Companies Act, 2013, are given hereunder to the

extent relevant and other than those given elsewhere in any other notes to the Financial Statements.

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

b) The Company has Fund-based and Non-fund-based limits of Working Capital from Banks and Financial
institutions. For the said facility, the revised submissions made by the Company to its lead bankers
based on closure of books of accounts at the year end, the revised quarterly returns or statements
comprising stock statements, book debt statements, credit monitoring arrangement reports, statements
on ageing analysis of the debtors/other receivables, and other stipulated financial information filed by
the Company with such banks or financial institutions are in agreement with the unaudited books of
account of the Company of the respective quarters and no material discrepancies have been observed.

c) The Company has not been declared as a wilful defaulter by any lender who has powers to declare a
company as a wilful defaulter at any time during the period or after the end of reporting period but
before the date when the financial statements are approved.

d) The Company has not entered into any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Company Act, 1956.

e) The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the
Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

f) The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), including
foreign entities(intermediaries), with the understanding that the intermediary shall;

i. 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

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

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

i. 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

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

h) The Company does not have any transactions which is not recorded in the books of accounts but has
been surrendered or disclosed as income during the period 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).

i) The Company has not traded or invested in Crypto currency or Virtual Currency during the period.

j) Title deeds of all immovable properties (other than properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee) are held in the name of the company.

k) The Company has not entered into any scheme of arrangement which has an accounting impact in the
current period.

l) The borrowings obtained by the company from banks and financial institutions have been applied for
the purposes for which such borrowings were taken.

46 CODE ON SOCIAL SECURITY, 2020

Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations into four
Labour Codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social
Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to
as the ''New Labour Codes''. The New Labour Codes has resulted in material increase in provision for employee
benefits on account of recognition of past service costs. Based on the requirements of New Labour Codes
and relevant Accounting Standard, the Company has assessed and accounted the estimated incremental
impact of '' 44.41 million as in the year ended March 31, 2026. Upon notification of the related Rules to the New
Labour Codes by the Government and any further clarification from the Government on other aspects of
the New Labour Codes, the Company will evaluate and account for additional impact, if any, in subsequent
periods.

47 EVENTS OCCURRING AFTER THE REPORTING PERIOD

The Board of Directors recommended a final dividend of '' 1.00 (Previous Year: '' 0.75) per equity share of face
value of '' 10 each, for the financial year ended March 31, 2026, subject to the approval of shareholders in the
ensuing Annual General Meeting. The aggregate amount of dividend proposed to be distributed is '' 46.52
millions.

48 The Company has used an accounting software for maintaining its books of account which has a feature of
recording audit trail (edit log) facility, except that audit trail feature was not enabled at the database level
in respect of accounting software to log any direct data changes. Further, to the extent enabled, audit trail
feature has operated throughout the year for all relevant transactions recorded in the accounting software.
Also, we did not come across any instance of audit trail feature being tampered with. Additionally, the audit
trail of prior years has been preserved by the Company as per the statutory requirements for record retention
to the extent it was enabled and recorded in previous years.

49 During the year ended March 31, 2026, the Company had completed its Initial Public Offer ("IPO") of 1,25,00,000
equity shares of face value of '' 10/- each comprising of (i) fresh issue of 75,00,000 equity shares at an issue
price of '' 320 per equity share; (ii) an offer for sale of 50,00,000 equity shares at an issue price of '' 320
per equity share. The equity shares of the Company were listed on BSE Limited ("BSE") and National Stock
Exchange of India Limited ("NSE") on March 24, 2026.

Out of the Net proceeds which were unutilised as at March 31, 2026, '' 650.00 millions are temporarily invested
in Fixed Deposits, '' 480.53 millions is held in the Company''s Monitoring Account, while the balance amount is
held in the public offer account towards the Company''s share of expenses related to Issue.

50 The Board at its meeting dated April 11, 2026, accorded their approval for the selling of Lease hold land held by
the Company at saykha Location. The asset is expected to be sold within 12 months, hence underlying assets
has been classified as held for sale. The proceeds of disposal of land is expected to exceed the carrying
amount of the land and accordingly no impairment lose has been recognised on the classification of the
asset held for sale.

51 Amount below '' 5,000 represented by '' 0.00

52 Previous period figures have been regrouped / reclassified wherever necessary to conform to the current
year''s presentation.

53 Standalone Financial Statements for the period ended March 31, 2026 were approved by the Board of Directors
on May 26, 2026.