G Rights/terms attached to equity shares:

The Company has only one class of issued equity shares having a face value of ?10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. 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 preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

H a) Dividend paid during the year ended 31 March 2026 is ? NIL ( ? 10.00 per equity share towards final dividend for the year ended 31 March 2024 which resulted in a cash outflow of Rs. 915.11 lakhs in the previous year) b) There are no amounts due and payable to Investor Education and Protection Fund as on Balance Sheet date.

I Information regarding shares in the last five years

No shares were issued for consideration other than cash during the period of five years immediately preceding the reporting date. Further the Company has not undertaken any buy back of shares during the period of five years immediately preceding the reporting date.

Nature and purpose of other reserves General reserve

Under the erstwhile Companies Act, 1956, a general reserve was created through an annual transfer on net income at a specified percentage in accordance with the applicable regulations. Consequent to introduction of the Companies Act, 2013, the requirement to mandatory transfer a specified percentage of net profit to general reserve has been withdrawn. The balances in the general reserve as determined in accordance with applicable regulations is ? 1,803.05 lakhs as at 31^st March 2026 and as at 31^st March 2025.

Retained Earning

Retained earnings includes accumulated profits and re-measurement loss/(gain) on defined benefits plan, net of taxes that will not be reclassified to the statement profit and loss. Retained earnings is a free reserve available to the Company.

Equity instruments through other comprehensive income

The Company has elected to recognise changes in the fair value of certain investment in equity securities in other comprehensive income. These changes are accumulated within the FVOCI equity investments within equity. The Company transfers amounts from such component of equity to retained earnings when the relevant equity instruments are derecognised.

Securities premium

Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provision of the Act.

Amalgamation Reserve

The Company has recognised Amalgamation Reserve on account of amalgamation of erstwhile Paradeep Carbons Limited a 100% wholly owned subsidiary company effective from 1^st July 2005.

1) The Term Loan ,cash credit and buyers credit facilities are secured by first and equitable mortgage on pari-passu basis of all immovable properties and by hypothecation of all movable properties, plant and equipments, inventories, trade receivables and other receivables of the Company.

2) Cash credit facilities availed from banks was payable on demand and carried interest rate ranging between 8.5% to 11.20% computed on a daily basis on the actual amount utilised.

3) Bank Gurantee Buyers Credit is repayable within 180 days and carries interest rate ranging between SOFR 28 bps to SOFR 50 bps.

4) Unsecured loan for working capital purpose from IDFC First Bank Limited is repayable within 90days from the date of disbursement of loan and carries floating interest rate @ 8.75% p.a.

5) The Term Loan was repayable in 36 equited monthly instalment after the initial moratorium period of 24 months.

6) The Term Loan carried interest rate of 9.25% p.a.

Significant estimate

The ultimate utilisation of the carry forward business loss is dependent upon the generation of future taxable income as per the provisions of Income Tax Act, 1961, before the expiry of period over which the said carry forward business loss can be utilised. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income and tax planning strategy in making this assessment. Based on the historical details of the taxable income, book profit and projections of future taxable income over the periods in which the carry forward business loss is available for utilisation, Management believes that the Company will be able to realise / utilise the carry forward business loss. However, the utilisation could be reduced in the near term if the future taxable income undergoes any change as compared to the estimates made by the management as at reporting date. Accordingly, the Company has recognised the cumulative deferred tax assets on the basis of prudence, only to the extent of deferred tax liability.

(v) Goa Green Cess demands:

Pursuant to the Order of Hon’ble High Court dated 14^th September 2023, dismissing the writ petition filed by the Company, the stay on Goa Green Cess was vacated. On 22^nd Sepetember 2023, the Company had received show cause Notice for unpaid cess covering the period from FY 2014-15 to FY 2022-23.

In response, the company had filed a Special Leave Petition before the Hon’ble Supreme Court on 11^th November 2023 challenging the constitutional validity of the said levy and based on the Supereme Court’s direction the company deposited 50% of demand amount under protest and balance 50% of the demand amount was stayed.

Subsequently, Company recieved Notices for FY 2023-24 & FY 2024-25. The Company has deposited Rs 349 Lacs under protest from FY 2014-15 to FY 2024-25, representing 50% of the total demand raised for the said period.

Additionally the Company has challenged the assessment of FY 2014-15 to FY 2019-20 by State tax authorities by way of Writ Petition before the Hon’ble High Court of Bombay at Goa on 10^th November 2023 on the ground that the said notices are time barred. The Hon’ble High Court directed the State Tax Authorities to consider the aspect of limitation period while issuing the assesment orders.

Pursuant to said directions, the Company filed appeals for FY 2014-15 to FY 2019-20 before the State Appelate Authorities ; however the matters were dismissed.The Company has further filed an appeal before the Administrative Tribunal at Panaji on the issue of limitation.

The amounts mentioned above are based on the notice of demand or the assessment orders issued by the relevant authorities, as the case may be. The Company is contesting these demands with the relevant appellate authorities. Outflows, if any, arising out of these demands would depend on the outcome of the decisions of the appellate authorities and the Company’s rights for future appeals before the Judiciary. However, the Company is hopeful of successful outcome in the appellate proceedings.

36 Leases

The Company incurred ? 36.42 lakhs and ? 33.94 lakhs for the years ended March 31, 2026 and 2025, respectively, towards expenses relating to short-term leases and leases of low-value assets.

a) Defined benefit plans (Continued)

ii) Risk analysis

Company is exposed to a number of risks in the defined benefit plan. Most significant risks pertaining to defined benefits plan and management estimation of the impact of these risks are as follows:

a. Investment risk

The gratuity plan is funded with Life Insurance Corporation of India (LIC) and ICICI Prudential Life (ICICI). Company does not have any liberty to manage the fund provided to LIC and ICICI prudential.

The present value of the defined benefit plan liability is calculated using a discount rate determined by reference to Government of India bonds. If the return on plan asset is below this rate, it will create a plan deficit.

b. Interest risk

A decrease in the discount rate on plan assets will increase the plan liability.

c. Longevity risk/ Life expectancy

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 at the end of the employment. An increase in the life expectancy of the plan participants will increase the plan liability.

d. Salary growth risk

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

Risk which arises if there is a mismatch in the duration of the assets relative to the liabilities. By matching duration with the defined benefit liabilities, the company is successfully able to neutralize valuation swings caused by interest rate movements. Hence company is encouraged to adopt asset-liability management.

b) Defined contribution plans:

For the financial year ended 31^st March, 2026 a sum of ? 131.64 lakhs (Previous year ? 129.57 lakhs) has been charged to the Statement of Profit and Loss in respect of Company’s contribution to superannuation fund, provident and pension fund.

38 Financial instruments - Fair value and risk management

i Financial risk management objective and policies

This section gives an overview of the significance of financial instruments for the Company and provides additional information on the balance sheet. Details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset and financial liability are disclosed in Note 3d.

iii Valuation techniques and significant unobservable inputs

a) The fair value of forward exchange contract is determined using forward exchange rate at the balance sheet date. The fair value of equity shares in ICICI Bank Limited is determined basis the quoted market price.

b) The finance department of the Company performs the valuation of financial assets and liabilities required for financial reporting purposes. The finance department reports directly to the Chief Financial Officer (CFO). Discussions of valuation processes and results are held between the CFO and the finance department at least once every three months, in line with the Company’s quarterly reporting periods.

Financial instruments measured at fair value (Level 2 and Level 3)

Market comparison/discounted cash flow: The fair value is estimated considering (i) current or recent quoted prices for identical securities in

markets that are not active and (ii) a net present value calculated using discount rates derived from quoted prices of securities with similar maturity and credit rating that are traded in active markets, adjusted by an illiquidity factor.

Significant unobservable inputs and interrelationship between significant unobservable inputs and fair value measurement is not applicable.

iv Fair value hierarchy

The table shown below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined 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 (i.e., as prices) or indirectly (i.e., derived from prices)

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

v Risk management framework a Risk management

The Company’s business is subject to several risks and uncertainties including financial risks. The Company’s documented risk management polices act as an effective tool in mitigating the various financial risks to which the business is exposed to in the course of their daily operations. The risk management policies cover areas such as liquidity risk, commodity price risk, foreign exchange risk, interest rate risk, counterparty and concentration of credit risk and capital management. Risks are identified through a formal risk management programme with active involvement of senior management personnel and business managers at both the corporate and plant level.

Each significant risk has a designated 'owner’ within the Company at an appropriate senior level. The potential financial impact of the risk and its likelihood of a negative outcome are regularly updated.

The risk management process is coordinated by the Management Assurance functions and is regularly reviewed by the Company’s Audit Committee. The Audit Committee meets regularly to review risks as well as the progress against the planned actions. Key business decisions are also discussed at the periodic meetings of the Audit committee and the Board of Directors. The overall internal control environment and risk management programme including financial risk management is reviewed by the Audit Committee and the Board.

The risk management framework aims to:

improve financial risk awareness and risk transparency

identify, control and monitor key risks

identify risk accumulations

provide management with reliable information on the Company’s risk situation

improve financial returns

b. Treasury management

The Company’s treasury function provides services to the business, co-ordinates access to domestic financial markets, monitors and manages the financial risks relating to the operations of the Company through internal reports which analyses exposures by degree and magnitude of risks. These risks include market risk (currency risk, interest rate risk and price risk), credit risk, liquidity risk and cash flow interest rate risk.

The Company uses derivative instruments (forward contracts) as part of its management

of exposure to fluctuations in foreign currency exchange rates. The Company does not acquire or issue derivative financial instruments for trading or speculative purposes.

c. Price risk on raw materials and finished goods i.e. RPC and CPC

The Company imports raw material only based on the confirmed orders in hand and indicated orders placed by the reputed aluminum smelters. The Company enters into contract with the major aluminum smelters for the supply of CPC on quarterly basis with the agreed selling price.

d. Financial risk

The Company procures material from overseas suppliers on credit for a period of 180 days. The Company collects dues from the customers within a period of 30-45 days. The Company places fixed deposits with the Company Bankers and the Company’s liquid assets like trade receivables, finished goods and raw material which has been procured based on the confirmed orders/indicated orders will be sufficient enough to repay the outstanding payables. The management regularly monitors the liquid assets value vis-a-vis outstanding balance of payables.

Collateral

The Company has pledged its inventory, trade receivables and cash and cash equivalents in order to fulfill the collateral requirements for the financial facilities in place. There are no other significant terms and conditions associated with the use of collaterals.

f. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers, loans and investments in debt securities.

The carrying amounts of financial assets and contract assets represent the maximum credit exposure.

g. Foreign exchange risk

The Company’s business activities include import of raw materials like Raw Petroleum Coke, which are linked to international price in dollar terms. As a result the company is exposed to exchange rate fluctuation on its imports.

The Company’s objective is to insure that the cost of buyer’s credit facilities availed doesn’t exceed the cost of Rupee funding of a comparable nature at the time of availing. The Company’s foreign currency transaction are recorded in accordance with guidelines laid down in Accounting Standard and company after duly considering the cost of forward contract premium rates takes forward contracts.

The Company maintains the details of all hedges obtained bank wise in line with the objective of the managing the foreign currency risk policy. The Company also submits details of forward contract entered to the Board on quarterly basis at the meeting to be held in subsequent quarter. In addition to this, periodic audit of the forward exchange transactions and hedging carried out would be done by the internal auditors of the company and reported to the management.

h. Interest rate risk

The Company avails foreign currency loan in the form of Buyers credit facilities with overseas banks with tenure of 180 days at an interest rate of 6 months SOFR with certain agreed additional basis points. Since the rate is fixed and agreed well in advance, the Company is not exposed to interest-rate risk due to adverse movement in interest rates. Also, the Company procures material from its overseas suppliers for credit upto 180 days. The cost for extending credit is fixed with suppliers upfront and hence the Company is not exposed to interest rate risk.

Fair value sensitivity analysis for fixed-rate instruments

The Company does not account for any fixed-rate financial assets or financial liabilities, at FVTPL, and the Company does not designate derivatives as hedging instruments under a fair value hedge accounting model. Therefore, a change in interest rates at the reporting date would not affect profit or loss.

Cash flow sensitivity analysis for variable-rate instruments

A reasonably possible change of 100 basis points in interest rates at the reporting date would have increased (decreased) profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant.

39 Capital management

The Company’s objectives when managing capital is to safeguard continuity, maintain a strong credit rating and healthy capital ratios in order to support its business and provide adequate return to shareholders through continuing growth. The Company’s overall strategy remains unchanged from previous year.

The Company sets the amount of capital required on the basis of annual business and long-term operating plans which include capital and other strategic investments.

The funding requirements are met through a mixture of equity, internal fund generation and other non-current borrowings. The Company’s policy is to use current and non-current borrowings to meet anticipated funding requirements.

The Company monitors capital on the basis of the net debt to equity ratio. The Company is not subject to any externally imposed capital requirements.

Net debt are non-current and current debts as reduced by cash and cash equivalents, other bank balances and current investments. Equity comprises all components excluding other components of equity (which comprise non-current financial investments measured through OCI).

The Company has entered into supplier financing arrangements through the Trade Receivables Discounting System (TReDS) operated by Receivables Exchange of India Limited (RXIL), an exchange platform regulated by the Reserve Bank of India.

Under these arrangements, approved invoices raised by suppliers are uploaded on the TReDS platform and discounted by participating banks and non bank financial institutions. The financiers make payment directly to the suppliers prior to the original invoice due date or on the due date, and the Company settles the corresponding amount with the financiers on the settlement date.

These arrangements are in the nature of payable financing and are undertaken to improve working capital efficiency and support timely payments to suppliers.

40 Segment reporting:

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses including revenues and expenses that relate to transactions with any of the Company’s other components and for which discrete financial information is available. All operating segments’ operating results are reviewed regularly by the Company’s Executive Director (ED) to make decisions about resources to be allocated to the segments and assess their performance.

The principal business of the Company is manufacture and sale of Calcined Petroleum Coke. The chief decision maker of the Company monitors the operating results of the Company’s business as a single segment. Accordingly in context of Ind AS 108 "Operating Segments”, the principle business of the Company constitutes a single reportable segment and all the revenue is generated from external customer. As per Management’s perspective, the risk and returns from its sales do not materially vary geographically. Accordingly there are no other business / geographical segments to be reported under Ind AS 108.

Performance obligations

The Company satisfies its performance obligations pertaining to the sale of calcined products at point in time when the control of goods is actually transferred to the customers. No significant judgment is involved in evaluating when a customer obtains control of promised goods. The contract is a fixed price contract and do not contain any financing component. The payment is generally due within 7-45 days. There are no other significant obligations attached in the contract with customer.

Transaction price

There is no remaining performance obligation for any contract for which revenue has been recognised till period end. Further, the Company has not applied the practical expedient as specified in para 121 of Ind AS 115 as the Company do not have any performance obligations that has an original expected duration of one year or less or any revenue stream in which consideration from a customer corresponds directly with the value to the customer of the entity’s performance completed to date.

Determining the timing of satisfaction of performance obligations

There is no significant judgements involved in ascertaining the timing of satisfaction of performance obligations, in evaluating when a customer obtains control of promised goods, transaction price and allocation of it to the performance obligations.

Determining the transaction price and the amounts allocated to performance obligations

The transaction price ascertained for the only performance obligation of the Company (i.e. Sale of goods) is agreed in the contract with the customer. There is no variable consideration involved in the transaction price except for certain discretionary discounts given, which are adjusted with revenue.

48 Additional regulatory information required by Schedule III

a. No proceedings 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 Rules made thereunder.

b. The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

c. The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

d. The Company has complied with the number of layers prescribed under the Companies Act, 2013.

e. The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

f. There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

g. The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

h. The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.

i. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary 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

j. The Company has not received any fund 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

(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 on behalf of the Ultimate Beneficiaries

k. The Company has borrowings from banks and financial institutions on the basis of the security of current assets & fixed assets. The quarterly returns or statements of current assets filed by the company with banks and financial institutions are in agreement with the books of accounts.

1

All amounts are excluding any consequential interest and penalties.