* The term deposits held by the Company with banks or financial institutions comprises of the time deposit and are made for varying period between one year to two years and earn the interest at the respective deposit rate, the same are held as lien or pledged by them against the corporate credit cards provided to the Company, amounting to ' 10.00 Lakhs (Prev Year ' 10.00 Lakhs).

** Refer “Note No. 36B” for the information of credit risk and market risk.

No amounts are due from directors or other officers of the Company either severally or jointly with any other persons, nor due from firms or private companies respectively in which director is partner, a director or a member.

b) Terms / Rights attached to Equity Shares

i) The Company has only one class of shares - referred to as - equity shares having a par value of ' 10 per share. Each holder of equity shares is entitled to one vote per share. .

ii) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all the preferential amounts. The distribution will be in the proportion to the number of equity shares held by the shareholders.

iii) The Company declares and pays the dividend in Indian Rupees ('). The payment of dividend is also made in foreign currency to the shareholders outside India. The final dividend proposed by the Board of Directors is subject to the approval of the shareholders in their ensuing Annual General Meeting (AGM), except in case of interim dividend.

* As per the records of the Company, including the register of members. The above details are certified by the Registrar and Share Transfer Agents

The Board of Directors, at its meeting held on May 27, 2023 have recommended a payment of final dividend of ' 1.00 (One Rupee Only) per equity shares of the face value of ' 10 each i.e 10% of the face value of equity share amounting to ' 254.03 Lakhs, subject to the approval of shareholders at their ensuing Annual General Meetings (AGM), hence not recognized as a liability, for the financial period ended at March 31, 2023. The Board of Directors has not declared any interim dividend during the reporting period. (Refer “Note No. 48”).

Description of Nature and Purpose of the Reserves

a) Capital Reserve: Capital reserve was created on the capital incentive received from sales tax department for the purpose of setting up the manufacturing plants. The Incentive has attached certain terms and conditions, non-compliance of those terms and conditions would render the forfeiture of the incentive.

b) Securities Premium: Securities premium account is used to record the premium on issue of equity share. These reserve is mainly utilized in accordance with the provisions of the Companies Act, 2013.

c) Remeasurement of Defined Benefits Plan: This represents the cumulative gains and losses arising on the remeasurements of the defined benefits plan in accordance with the Ind AS 19 that have been recognised in Other Comprehensive Income.

d) Equity Instruments through Other Comprehensive Income: This represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive income, under an irrevocable option, net of amounts reclassified to retained earnings when such assets are disposed off.

e) Retained Earnings: Retained earning reserves represents the undistributed accumulated earnings of the Company as on the date of standalone financial statements.

Nature of Securities and Terms of Repayments

a) Term Loan from Axis Bank Limited are secured by the first pari-passu by way of extension of hypothecation charge on equitable mortgage on factory land and building situated at Survey No. 43, 55/1, 56/1 and 56/2, Mouza Maregaon, Distt. Bhandara and are further secured by way of equitable mortgage on land and building sitauted at Survey No. 1016, Mouza and Grampanchayat Neeri, PC No. 21, Mohadi, Distt. Bhandara and also further secured by way of Plot No. B -28, Industrial Area, MIDC, Behind Mahindra and Mahindra, Hingna Road, Nagpur (M.H.) - 440016.

b) Term Loan from Axis Bank Limited are obtained to meet the liquidity mismatch arising out of the COVID - 19 and the same has to be repaid on Monthly installments commencing from March 2024, and has to be repaid full on or before March 2027.

c) Term Loan from related parties are unsecured and are repayable on demand basis.

Nature of Securities

a) Working Capital Loan from the Axis Bank Limited are secured by first charge on the hypothecation of entire inventories, book debts, receivables and other current assets with the Company presently held and held in the near future and are further secured by way of equitable mortgage at the Factory Land and Building situtated at Plot No. B - 28, Industrial Area, MIDC, Hingna Road, Behind Mahindra and Mahindra, Nagpur and are further secured by way of equitable mortgage Factory Land and Building situated at 1016, Mouza and Grampanchayat Neeri, Mohadi, Bhandara and are further secured by way of equitable mortgage of Land and Building situated at Survey No. 43, 55/1, 56/1 and 56/2, Mouza Maregaon, Bhandara. These credit facilities are also further secured by irrevocable personal guarantees of two of the Directors, Shri Arun Bhandari and Shri Lalit Bhandari.

b) Working Capital Loan from the ICICI Bank Limited are secured by first pari-passu charge on the hypothecation of entire inventories, book debts, receivables and other current assets with the Company presently held and held in the near future and are further secured by way of equitable mortgage Wat the Factory Land and Building situtated at Plot No. B - 28, Industrial Area, MIDC, Hingna Road, Behind Mahindra and Mahindra, Nagpur and are further secured by way of equitable mortgage Factory Land and Building situated at 1016, Mouza and Grampanchayat Neeri, Mohadi, Bhandara and are further secured by way of equitable mortgage of Land and Building situated at Survey No. 43, 55/1, 56/1 and

56/2, Mouza Maregaon, Bhandara. These credit facilities are also further secured by irrevocable personal guarantees of two of the Directors, Shri Arun Bhandari and Shri Lalit Bhandari.

c) Working Capital Loan from the CITI Bank are secured by first pari-passu charge on the hypothecation of entire inventories, book debts, receivables and other current assets with the Company presently held and held in the near future and are further secured by way of equitable mortgage at the Factory Land and Building situtated at Plot No. B -28, Industrial Area, MIDC, Hingna Road, Behind Mahindra and Mahindra, Nagpur and are further secured by way of equitable mortgage Factory Land and Building situated at 1016, Mouza and Grampanchayat Neeri, Mohadi, Bhandara and are further secured by way of equitable mortgage of Land and Building situated at Survey No. 43, 55/1, 56/1 and 56/2, Mouza Maregaon, Bhandara. These credit facilities are further secured by way of demamd promissory note of ' 2,500 Lakhs. These credit facilities are also further secured by irrevocable personal guarantees of two of the Directors, Shri Arun Bhandari and Shri Lalit Bhandari.

Peformance Obligations

Sales of Product: Performance obligation in respect of sales of goods is satisfied when the controls of the goods is transferred to the customer, generally on delivery of the goods and payment is generally due as per the terms of contract with customers. Sales of Services: Performance obligation in respect of sales of service is satisfied over a period of time and the acceptance of the customers. In respect of these services, payment is generally due upon the completion of services and acceptance from the customers.

The Company does not have any remaining performance obligation as contracts entered for sales of goods and sales of service are for a shorter duration.

* The Company collects the Goods and Service Tax (GST) on behalf of the Government, hence the GST is not included in

The Company does not holds quoted or unquoted debentures or bonds, which are being measured at Fair Value through Other Comprehensive Income (FVTOCI), so the reporting under the “Ind AS - 109, Fair Value” is not applicable to the Company for all the reporting periods presented in the standalone financial statements.

ii) Financial Instruments measured at Fair Value through Profit or Loss

The Company neither holds any unquoted equity shares (other than investments in associates, which are being measured at amortized costs) nor holds foreign currency forward exchange contracts nor holds quoted mutual funds, which are being measured at Fair Value through Profit and Loss (FVTPL), so the reporting under the '"Ind AS -109, Fair Value” is not applicable to the Company for all the reporting periods presented in the standalone financial statements.

The Company has not any financial liabilities which are being measured at Fair Value through Profit or Loss (FVTPL), so the reporting under the “IndAS - 109, Fair Value” is not applicable to the Company in respect of all the reporting periods presented in standalone financial statements.

iii) Financial Instruments measured at Amortized Costs

The carrying amount of financial assets and financial liabilities measured at amortized costs in the standalone financial statements are a reasonable approximation of the fair value since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled.

36B - Financial Risk Management - Objectives and Policies

The Company’s financial liabilities mainly comprise the borrowings in foreign as well as Indian currency, retention money, trade and other payables. The main purpose of these financial liabilities is to finance the Company’s business operations and to provide guarantees to support its operations. The Company’s principal financial assets mainly comprise of investments, security deposits, cash and cash equivalents, other balances with banks, trade and other receivables that derive directly from its business operations.

The Company is exposed to the Market Risk, Credit Risk and Liquidity Risk from its financial instruments. The Board of Directors ("the Board”) oversees the management of these financial risks. The risk management policy of the Company formulated by the Company’s management and approved by the Board of Director’s, which states the Company’s approached to address uncertainties in its endeavor to achieve its stated and implicit objectives. It prescribes the roles and responsibilities and the Company’s managements, the structure for managing the risk and the framework for risk management. The framework seeks to identify, assess and mitigate the financial risks in order to minimize the potential adverse effect on the Company’s financial performance. The Board has taken necessary actions to mitigate the risks identified basis the information and situation presents.

The following disclosures summarize the Company’s exposure to the financial risks and the information regarding use of derivatives employed to manage the exposures to such risks. Quantitative sensitivity analysis has been provided to reflect the impact of reasonably possible changes in market rate on financial results, cash flows and financial positions of the Company.

1) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instruments will fluctuate because of changes in the market prices. Market risk comprises three types of Risk: “Interest rate risk, Currency risk and

Other price risk”. Financial instruments affected by the market risk includes loans and borrowings in foreign as well as domestic currency, deposits, retention money, trade and other payables and trade receivables

a) Interest Rate Risk

Interest rate risk is the risk that fair value or future cash outflows of a financial instruments will fluctuate because of changes in the market interest rates. An upward movement in the interest rate would adversely affect the borrowing costs of the Company. The Company is exposed to long-term and short-term borrowings. The Company manages interest rate risk by monitoring, its mix of fixed and floating rate instruments and taking actions as necessary to maintain an appropriate balance. The Company has not used any interest rate derivatives.

b) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash outflows of an exposure will fluctuate due to changes in foreign exchange rates. The Company operates globally, and the portion of the business is transacted in several currencies and consequently the Company is exposed to foreign exchange risk through its sales in overseas and purchases from overseas suppliers in foreign currency. The foreign currency exchange rate exposure is partly balance by purchasing of the goods in the respective currencies.

The above table represents the total exposure of the Company towards its foreign exchange denominated monetary items. The Company has not hedged its foreign currency exposure during the reporting period and previous report ing period. The details of unhedged exposures are given as part of “Note No. 49B”.

The Company is mainly exposed to changes in USD ($) and EURO (€). The below table demonstrate the sensitivity to a 5% increase or decrease in USD ($) against INR and EURO (€) against INR, considering with all other variable remains constant. The sensitivity analysis are prepared on the net unhedged exposure of the Company as at the reporting period and previous reporting period. 5% represents the management’s assessment of reasonably change in foreign exchange rate.

c) Other Price Risk-

Other price risk is the risk that the fair value of a financial instruments will fluctuate due to changes in market traded price. Other price risk arises from financial assets such as investments in quoted equity instruments. The Company is exposed to price risk arising mainly from investments in quoted equity instruments recognized at FVTOCI. As at March 31, 2023, the carrying value of such quoted equity instruments recognized at amounts FVTOCI amounts to ' 00.38 Lakhs (March 31, 2022 ' NIL). The details of such investments in equity instruments are given in “Note No. 5”.

The Company is mainly exposed to changes in market traded rate of its investments in quoted equity instruments recognized in other comprehensive income. A sensitivity analysis demonstrating the impact of change in market prices of these instruments from the prices existing as at the reporting date is given below:

If the equity prices had been higher / lower by 10% from the market price existing as at March 31, 2023, Other comprehensive income (OCI) for the period ended would increase by ' 00.03 Lakhs (Prev Year ' NIL) and decrease by ' 00.03 Lakhs (Prev Year ' NIL) respectively with a corresponding increase / decrease in total equity of the Company as at March 31, 2023. 10% represents the management’s assessment of reasonably possible changes in equity prices.

2) Credit Risk

Credit Risk refers to the risk that the counterparty will default on its contractual obligations resulting in financial losses to the Company. Credit risk arises primarily from financial assets such as trade receivables, other balances with banks and other financial assets with the Company.

The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit rating. The Company’s exposure and credit ratings of its counterparties are continuously monitored and the aggregate value of transactions is reasonably spread amongst the counterparties.

Credit risk arising from term deposits and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognized financial institutions with high credit rating assigned by the international credit rating agencies.

The average credit period on sale of products ranges from 60 to 90 days. Credit risk arising from trade receivable is managed in accordance with the Company’s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on detailed study of creditworthiness and accordingly individual credit limits are defined / modified. The concentration on credit risk is limited due to the fact that the customer base is large. There is no customer representing more than 10% of total balance of its trade receivables. For trade receivables, as a practical expedient, the Company computes credit loss allowance based on provision matrix. The provision matrix is prepared on historically observed default rate over the expected life of trade receivable and is adjusted for forward-looking estimate. The provision matrix at the end of reporting period as follows:

3) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated with financial instruments that are settled by delivering cash or another financial assets. Liquidity risk may result from an inability to sell a financial assets quickly at close to its fair value.

The Company has an established liquidity risk managements framework for managing its short-term, medium-term and long-term funding and liquidity management requirements. The Company’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. The Company manages the liquidity risk by maintaining adequate funds in the cash and cash equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there is sufficient cash to meet all its normal operating commitment in a timely and cost-effective manner.

The Company believes that its liquidity positions {As at March 31, 2023'255.90 Lakhs (Prev Year ' 142.59 Lakhs)}, anticipated future internally generated funds from operations, and its fully available revolving undrawn credit facilities will enable it to meet its future known obligations in the ordinary course of business. However, if liquidity needs were to arise, the Company believes it has access to financing arrangements, value of unencumbered assets, which should enable it to meet its ongoing capital, and other liquidity requirements.

The liquidity position of the Company mentioned above, includes:

i) Cash and Cash Equivalents as disclosed in the Cash Flows Statements

ii) Current / Non-current term deposits as disclosed in the financial assets The Company’s liquidity position monitored by the management, includes:

i) Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met;

ii) Maintaining rolling forecasts of the Company’s liquidity position on the basis of expected cash flows;

iii) Maintaining diversified credit lines.

The table below analysis financial liabilities of the Company into the relevant maturity grouping based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows:

36C - Capital Management

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding

principles;

a) Maintain the financial strength to ensure BBB stable ratings domestically and investment grade ratings internationally.

b) Ensure financial flexibility and diversify the source of financing and their maturities to minimize liquidity risk while meeting its investment requirements.

c) Ensure sufficient liquidity is available (either through cash and cash equivalents, investments or committed credit facilities) to meet the need of business.

d) Minimize the finance costs while taking into considerations current and future industry, market and economic risks and conditions.

e) Safeguard its ability to continue as going as a going concern.

f) Leverage optimally in order to maximize shareholders returns while maintaining strength and flexibility of the Balance Sheet.

This framework is adjusted based on underlying macro-economic factors affecting business environment, financial

market conditions and interest rates environment.

The Board of Directors of the Company has primary responsibilities to maintain a strong capital base and reduce the cost of capital through a prudent management of deployed fund and leveraging in domestic and international financial market so as to maintain investors, creditors and market confidence and to sustain future development of the business.

For the purpose of the Company’s capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholders value.

As at March 31, 2023, the Company has only one class of equity shares and has low debts. Consequent to such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve an optimal capital structure, the Company allocates its capital for distribution as dividend or reinvestments into business based on its longterm financial plans.

The Company manages its capital on the basis of Net Debt to Equity Ratio which is Net Debt (Total Borrowings net of Cash and Cash Equivalents) divided by total equity.

(a) Decline in the EBITDA margin and simultaneously increment in the rate of interest on borrowings as compared to the previous reporting period has led to decline in DSCR.

(b) Lower effeciency in making the profit as compared to the previous reporting period has led to decline in Return of Equity (ROE).

(c) Decline in the net profit as compared to the previous reporting period has led to decline in the Net Profit Ratio.

(d) Lower the return on investment and profit has led to decline in the Return on Capital Employed.

(e) Increase in rate of interest on term deposits as compared to the previous reporting period had led to improve the Return on Term Deposits.

41 Segment Reporting

The segment reporting of the Company has been prepared in accordance with Ind AS - 108, “Operating Segments” {specified under the section 133 of the Companies Act, 2013 read together with Companies (Indian Accounting Standard) Rule, 2015, as amended, time to time}. For the Company’s management purpose, the Company is organized into the business unit based on its products and services and has four reportable segment. Opearting Segments disclosure are consistent with the information provided to and reviewed by the Chief Operating Decision Maker (CODM) are as follows: The Board of Directors of the Company monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performace assessments. Segment performance is evaluated based on profit or loss and is measured consistently with profit and loss in the standalone financial statements. Operating Sgement have been identified on the basis of the nature of products / services and have been identified as per the quatitative criteria sepcified in the Ind AS.

Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relates to enterprises as a whole and are not allocable to a segments on reasonable basis have been disclosed as “unallocable”.

Segment assets and liabilities represents assets and liabilities in respective segments. Investments, taxe related assets, borrowings and other assets and liabilities that can not be allocatted to a segment on reasonable basis have been disclosed as “unallocable”.

42 Employee Benefits 1 Post Employment Benefits

i) Defined Benefit Gratuity Plan (Unfunded)

The Company has defined benefits gratuity plan for its employees, which requires contribution to be made to a separately administered fund. It is governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has completed five year of services are only entitled to the specific benefits. The level of benfits provided depend on the member’s length of service and salary at retirement age.

ii) Defined Benefit Pension Plan (Unfunded)

The Company operates a defined benefits pension plan for certain specified employees and is payable upon the employee satisfying certain terms and conditions attached to them, as approved by the Board of Directors of the Company.

iii) Defined Benefit Post Retirement Medical Benefit Plans (Unfunded)

The Company operates a defined benefits post-retirement medical benefits plan for certain specified employees and is payable upon the employee satisfying the certain terms and conditions attached to them, as approved by the Board of Directors of the Company.

The most recent actuarial valuation of the plan assets and the present value of defined benefit obligation were carried out as at March 31, 2023 by Mr. Ashok Kumar Garg, Fellow of Institute of Actuaries of India. The present value of defined benefits obligation and the related current service cost were measured by using the “Projected Unit Credit Method”.

The following tables summarise the components of defined benefits expense recognized in the Statement of Profit and Loss / Other Comprehensive Income and amount recognized in the Balance Sheets for the respective plans:

2 Defined Contribution Plans

i) Provident Fund

The provident fund assets and liabilities are managed by the Company in line with the Employees’ Provident Fund and Miscellaneous Provision Act, 1952.

The plan guarantees minimum interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with interest accumulated thereon are payable to employees at the time of separation from the Company or retirement, whichever is earlier. The benefit vests immediately on rendering of the service by the employee. In term of Guidance Note isused by the Institute of Actuaries of India for measurement of provident fund liabilities, the Actuary has provided a valuation of provident fund liabilities and based on assumptions provided. There is no Shortfall in the contribution as at March 31, 2023.

3 Other Long - Term Employee Benefits

i) Annual Leave and Sick Leave Assumptions

The liability towards compensated absenses (annual leave and sick leave) for the year ended on March 31, 2023 based on Actuarial Valuation carried out by using the Project Unit Credit Method is ' 17.33 Lakhs (Prev Year ' 19.19 Lakhs).

Note No. 43 Information on Related Party Transaction as required by Indian Accounting Standards - 24 - “RELATED PARTY DISCLOSURE” for the year ended March 31, 2023.

Related parties as defined under clause 9 of the Ind AS 24 have been identified on the basis of representations made by the Company’s management and information available with the Company. The Company’s material related party transactions and outstanding balances with whom the Company had entered into the transactions in the ordinary course of Business are as follows:

Terms and Conditions with the transactions with Related Parties as under:

a) The Company has been entering into transactions with related parties for its business purpose. The process followed for entering into transactions with these related parties are same as followed for unrelated party. Vendor’s are selected competitively having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors provide additional advantage in term of:

i) Supplying products primarily to the Company;

ii) Advanced and innovative technology;

iii) Customization of products to suit the Company’s specific performance;

iv) Enhancement of the Company’s purchase cycle and assurance of just in time supply with resultant benefits - notably

on working capital.

b) The purchases from and sales to related parties are made on terms equivalents to and those applicable to all unrelated parties on arm’s length transactions.

c) Outstanding balances of the related parties at the end of the Reporting Period are unsecured, interest free and will be settled in the cash on demand basis.

44 Additional Regulatory Information as required by the Schedule - III of the Companies Act, 2013”

i) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken as at the balance sheet date. The Company has not defaulted in the repayment of principal and interest thereon on all the loans obtained from banks and financial institutions during the reporting period and previous reporting period.

ii) The title deed in respect of self-constructed building and title deeds of all other immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in the favor of the Company), disclosed in the standalone financial statements and included under the head of property, plants and equipments are held in the name of the Company as at the Balance Sheet date. Inrespect of the immovable properties taken on lease by the Company, the lease agreements are duly executed in the favor of the Company as at the Balance Sheet date.

iii) There are no loans and advances in the nature of loans are granted to promoters, directors, key managerial parties and the other related parties including the subsidiaries, associates and joint ventures (as defined under the Companies Act, 2013), either severally and jointly with any other person that are:

a) repayable on demand or;

b) without specifying any terms or period of repayments.

iv) The Company does not have benami property held in its name. No proceeding have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the relevant Rules made thereunder.

v) The Company has been sanctioned working capital limit from bank and financial institutions on the basis of security of current assets. The monthly / quarterly returns and the statements filed by the Company with such banks and financial institutions are in agreements with the books of accounts of the Company.

vi) The Company has not been declared as willful defaulter by the banks and the financial institutions or other lender or government or any government authorities.

vii) The Company has not been entered any transactions with the companies struck off as per the section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 2013, hence the details related to the same has not been furnished.

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

ix) The Company has complied with the requirements with respect to the number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

x) Utilization of borrowed funds and share premium

1) The Company has not advanced or loaned or invested funds to any other persons or entities, including foreign entities (intermediaries) with the understanding that the intermediaries shall:

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

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

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

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

b) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

xi) There has been no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the reporting period and previous reporting period in the tax assessments under the Income Tax Act, 1961.

xii) The Company has neither traded nor invested nor advanced in Crypto or Virtual Currency during the reporting period and previous reporting period.

a) a) Estimated amount of contracts remaining to be executed on capital account, net of advances given and not provided for as at March 31, 2023 is ' 474.53 Lakhs (Prev Year ' 1,549.46 Lakhs).

b) Estimated amount of Commitments as at March 31, 2023 is ' 495.25 Lakhs (Prev Year ' 1,803.20 Lakhs).

47 Corporate Social Responsibility

As per the Section 135 of the Companies Act, 2013, a Company, meeting its applicability thershold, need to spend at least 2% of its Average Net Profit for the immediately preceeding three financial year on Corporate Social Responsibility (CSR) Activities. The area of CSR Activity are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A CSR Committee has been formed as per the requirement of the Companies Act, 2013. The funds has been adminstrated by the said Committee, once it is allocated to the Corpus for the purpose of CSR activities, prescribed under Schedule VII of the Companies Act, 2013.

a) Corporate Social Responsibility required to be spent as per Section 135 of the Companies Act, 2013 read with the Schedule VII thereof, the Company during the reporting period ended at March 31, 2023 is ' 52.29 Lakhs (Prev Year ' 49.53 Lakhs).

b) Expenditure related to Corporate Social Responsibility is ' 59.05 Lakhs out of those ' 06.73 Lakhs commitments made previous financial period spent during the current financial period (Prev Year March 31, 2022 ' 54.78 Lakhs).

The Board of Director’s of the Holding Company has not declared any interim dividend during the current reporting period and previous reporting period.

Proposed Dividend

The Board of Director’s at their meeting held on May 27, 2023 have recommended a payment of final dividend of ' 1.00 per Equity Share of the Face Value of ' 10 per Equity Share i.e. 10% of the Face Value of Equity Share for the financial period ended at March 31, 2023. The Company has proposed ' 254.03 Lakhs as a final dividend subject to the approval of shareholders at their ensuing Annual General Meeting (AGM) of the Company, hence it is not recognized as a “Liabilities” in the Ind AS standalone financial statements.

49 Details of Hedged and Unhedged Exposures in Foreign Currency Denominated Monetary Items A) Exposure in Foreign Currency - Hedged

The Company does not enters into any forward exchange contracts to hedge its foreign currency exposures relating to the underlying transactions and firm commitments. The Company also does not enter into any kind of derivative instruments for trading and speculation purposes during the current reporting period and previous reporting period.

51 The Standalone Financial Statements are approved for issue by the Audit Committee at its meeting held on May 27, 2023 and by the Board of Directors on their meeting held on May 27, 2023.

52 Previous years audited figures has been regrouped / recasted / rearranged wherever necessary to make them comparable for the purpose of preparation and presentation of Standalone Financial Statements.