12. Provisions and Contingent Liabilities
A provision is recognised when the Company has a present legal or constructive obligation as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable
estimate can be made. Provisions are measured at the best estimate of the expenditure required to settle the present
obligation at the reporting date and are discounted to present value when the effect of the time value of money is material.
Where some or all of the expenditure required to settle a provision is expected to be reimbursed, the reimbursement is
recognised as a separate asset only when it is virtually certain that reimbursement will be received. The expense relating to
a provision may be presented net of the amount recognised for a reimbursement.
A contingent liability is disclosed where there is a possible obligation arising from past events whose existence will be
confirmed by uncertain future events not wholly within the Company's control, or a present obligation that is not recognised
because an outflow is not probable or the amount cannot be measured reliably. Contingent liabilities are not disclosed
where the possibility of an outflow is remote.
13. Earnings Per Share
Basic earnings per share is calculated by dividing profit or loss attributable to ordinary equity holders of the Company by
the weighted average number of equity shares outstanding during the period, adjusted for events required by Ind AS 33.
Diluted earnings per share adjusts the amounts used in the determination of basic earnings per share for the effects of all
dilutive potential equity shares, in accordance with Ind AS 33.
14. Foreign Currency Transactions
Transactions denominated in foreign currencies are translated into the functional currency using the exchange rate at the
date of the transaction.
At each reporting date, monetary assets and liabilities denominated in foreign currencies are translated using the closing
rate. Exchange differences arising on settlement or translation of monetary items are recognised in the Statement of Profit
and Loss, except where an applicable Ind AS requires otherwise.
Non-monetary items measured at historical cost in a foreign currency are translated using the exchange rate at the date of
the transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rate at
the date when fair value was measured.
Where a currency is not exchangeable into another currency at a measurement date, the Company estimates the spot
exchange rate and provides the disclosures required by Ind AS 21, as applicable for reporting periods beginning on or after
1 April 2025.
15. Statement of Cash Flows
The Statement of Cash Flows is prepared using the indirect method, whereby profit or loss is adjusted for the effects of
non-cash transactions, deferrals or accruals of past or future operating cash receipts or payments, and items of income or
expense associated with investing or financing cash flows. Cash flows are classified into operating, investing and
financing activities in accordance with Ind AS 7.
For purposes of the Statement of Cash Flows, cash and cash equivalents comprise the amounts meeting the definition set
out in the accounting policy on Cash and Cash Equivalents. Other bank balances are not included merely by virtue of being
bank balances; they are included only when they meet the definition of cash and cash equivalents
16. Segment Reporting
Operating segments are identified and reported in a manner consistent with the internal reporting provided to the Chief
Operating Decision Maker (“CODM”), who is responsible for allocating resources to and assessing the performance of the
Company's operating segments in accordance with Ind AS 108, Operating Segments. The Company has identified Agro,
Healthcare and Infrastructure as its reportable operating segments, reflecting the divisions through which the Company is
primarily organised and managed.
Segment revenue, segment expenses, segment assets and segment liabilities are measured on the same basis as that
used for the Company's standalone financial statements as a whole, and include items directly attributable to a segment as
well as those that can be allocated on a reasonable basis. Inter-segment transactions, if any, are eliminated on the basis of
arm's-length pricing. Revenue, expenses, assets and liabilities that cannot be reasonably allocated to a segment are
disclosed as unallocated items.
During the current financial year, the entity exercised the option of converting Optionally Convertible Debentures (OCDs)
with a face value of ?10 each, issued by Manas Power Ventures Pvt. Ltd., carrying a coupon rate of 0.01% per annum.
Such conversion took place at a Premium of Rs 27,99,60,000 resulting in increase of Share Capital by 12 Equity Shares
amounting to Rs 120.
Consequent to the aforesaid conversion, the resultant difference of Rs 40,000 between the carrying amount of the
investment and the value of equity shares received on conversion has been recognised in the Statement of Profit and Loss
for the year.
As per the Scheme of Amalgamation of the equity shareholding of the Corporate Promoter shareholders of the Company, namely
Chaitanya Constructions and Builders Private Limited, Avinash Fuels Private Limited, Purti Marketing Private Limited, Greenedge
Constructions Private Limited and Purti Contract Farming Private Limited, sanctioned by the Hon'ble National Company Law
Tribunal vide its order dated 7 May 2025, the shareholding of the Corporate Promoters was consolidated in the name of Chaitanya
Constructions and Builders Private Limited (“CCBPL”) with effect from the Effective Date, i.e., 24th May 2025.
Consequently, Avinash Fuels Private Limited, Purti Marketing Private Limited, Greenedge Constructions Private Limited and Purti
Contract Farming Private Limited stand amalgamated with CCBPL with effect from 24 May 2025. Accordingly, as on 31 March 2026,
the Corporate Promoter shareholding is reflected on a consolidated basis in the name of CCBPL, aggregating to 66.88% of the
equity share capital of the Company. In contrast, the shareholding disclosed as at 31 March 2025 represented the individual
holdings of the Corporate Promoters holding more than 5% of the equity share capital.
Nature and purpose of components of other equity
(A) Capital Reserve
Capital Reserve represents profits and gains of a capital nature, which are not available for distribution as dividends. It is a fund set
aside for major long term investments and other anticipated expenses which are legally permissible, and are in accordance with
Companies Act,2013 and applicable Ind AS.
(B) Capital Reserve created on account of common control transactions
Capital Reserve created on account of common control transactions is the gain on recognition of Merger of the company's erstwhile
subsidiaries with the company during the financial year 2019-20, as per the requirements of Ind AS 103 Business Combination.
(C) Securities Premium
Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of
Section 52 of the Companies Act, 2013.
(D) Revaluation Reserve
Revaluation Reserve is gain on revaluation of company's Property, Plant & Equipment and Intangible Assets. It is transferred to
Retained earnings in the proportion of the excess depreciation charged to Statement of Profit & Loss every year.
(E) Retained Earnings
Retained Earnings represent the accumulated net profits or losses of the Company after adjusting for dividends, appropriations,
and transfers. It includes movements from Other Comprehensive Income (OCI), Revaluation Reserve, and other equity
adjustments as per the applicable accounting framework.
Additional Information about Provisions
A. Provision for Employee Benefits
The Provision for Employee Benefits has been created for the liability of employee benefits payable within 12
months. The amount of outflows expected and its timing is as per the actuarial report.
B. Provision for Tax
The Provision for Tax is created for the income tax liability expected to arise in the Assessment Year 2025-26.
C. Others
“Other Provisions include the amount provided for GST and Income Tax demand. The company has reviewed all its
pending litigations and proceedings and has adequately provided for where provisions are required and disclosed
as contingent liabilities where applicable, in its standalone financial statements.
The revenue from Healthcare segment included in the Sale of Services is recognised to the extent of approval received
from the Contracting party in line with the Accounting Policy. Such approval is not merely administrative in nature and
constitutes a substantive contractual condition for establishing the Company's right to consideration.
"As at the reporting date, the Company had performed certain services for which the requisite approval had not been
received and no revenue has been recognised in respect of such services.
Moreover, no contract asset has been recognised in accordance with Ind AS 115 as the Company does not have an
enforceable right to consideration for these services as at the reporting date .
Note 38
Additional Regulatory Information pursuant to the requirement in Division II of Schedule III to the Companies Act 2013
(i) The company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
(ii) The company does not have any transactions with companies struck off.
(iii) 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.
(iv) The company has not traded or invested in crypto currency or virtual currency during the financial year.
(v) 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
(vi) 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
(vii) The company has not any such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or
any other relevant provisions of the Income Tax Act, 1961
(viii) The company has borrowings from banks and financial institutions on the basis of security of current 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.
(ix) None of the entities in the company have been declared wilful defaulter by any bank or financial institution or government or
any government authority
(x) The company has complied with the number of layers prescribed under the Companies Act, 2013.
(xi) The company has not entered into any scheme of arrangement whi]ounting impact on current or previous financial year.
C. Transfers between Levels
There have been no transfers between the levels.
Note on Financial Guarantee
"The Company has extended a corporate guarantee to Varron Aluminium Private Limited (VAPL) against the Loan
obligation to Bank amounting to Rs. 27,30,00,000 undertaken by VAPL.
The company is acting as a guarantor for VAPL and hence is required to make payments only in the event of a default by
them on the terms of the loan that is guaranteed by us.
A financial guarantee contract is initially recognised at fair value. If the guarantee is issued to an unrelated party on a
commercial basis, the initial fair value is likely to equal the premium received. If no premium is received, the fair value must
be determined using a method that quantifies the economic benefit of the guarantee to the holder.
However, according to the information provided by the lender, the interest rate of the loan would have remained
unchanged even if we had not provided the guarantee. Hence, the guarantee wasn't initially recognised.
At the end of each subsequent reporting period, financial guarantees are measured at the higher of:
(i) The amount of the loss allowance, and
(ii) The amount initially recognised less cumulative amortisation
As per Ind AS 109, the loss allowance on the financial guarantee contract will be determined using:
Loss Allowance = Loan Amount x Probability of default
According to the latest valuation report, the creditor's exposure to default is fully covered by the entity's available assets.
Therefore, even if we assume a 100% probability of default, the likelihood of the guarantor facing a financial burden is
negligible. This implies that, under Ind AS 109, the carrying amount of the financial guarantee in the books would be zero."
Level 3 Fair Values
Reconciliation of Level 3 Fair Values
The following table shows a reconciliation from the opening balances to the closing balances for Level 3 Fair Values.
“The Company has exposure to the following risks arising from financial instruments:
i) Credit Risk
ii) Liquidity Risk
iii) Market Risk"
Risk Management Framework
The Company's board of directors have the overall responsibility for establishing and supervising the Company's risk
management framework. They have formed the risk management committee, tasked with formulating and supervising the
Company's risk management policies, and regularly reporting its activities to the board of directors.
The Company's risk management policies aim to identify and assess the risks encountered by the Company, establish
suitable risk limits and controls, and monitor both risks and compliance with these limits. These policies and systems
undergo regular review to adapt to market changes and the Company's operations.
(i) Credit Risk
Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual
obligations, and arises principally from the Company's receivable from customers, loans advanced and cash and bank
deposits kept with banks.
The Group ensures that sales of products are made to customers with appropriate creditworthiness.
The Company has issued financial guarantees to bank in respect of loan facilities availed by its subsidiaries. In accordance
with the policy of the Company, the Company has recognised these financial guarantees as liability at fair value (Refer note
41). Outstanding loans in the subsidiaries against the financial guarantee contracts given by the Company as at 31st
March, 2026 is Rs 2611.63 Lakhs.
Cash and cash equivalents
The Group held cash and cash equivalents with banks with good credit ratings.
(ii) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to
ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and
stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.
Exposure to liquidity risk
The table below analyses the Group's financial liabilities into relevant maturity groupings based on their contractual
maturities for all non derivative financial liabilities. The amounts are gross and undiscounted, and include contractual
interest payments.
(iii) Market Risk
"Market risk is the risk of loss of future earnings, or future cash flows arising out of changes in Market Conditions of
Agriculture Industry, Healthcare Industry & Infrastructure Industry, which include changes in prices of Raw Material and
commodity prices (indigeneously procured as well as import). The objective of market risk management is to avoid
excessive exposure to the fluctuations in market prices."
The company is exposed to high risk of changes in the prices of Crude and Soyabean oil. Due to their volatility, the prices
may fluctuate significantly over short periods of time for this commodity. The prices of the Company's commodity generally
fluctuate in line with global market conditions. Commodity price risk exposure is evaluated and managed through
operating procedures and policies. The company is mitigating such risk by not operating the oil refinery and undertaking
trading activities in oil. The exposure to market risk is significantly reduced by this since the Operating losses under the oil
refinery under current market scenario are very high. As of March 31,2026, the Group had not entered into any material
derivative contracts to hedge exposure to fluctuations in commodity prices.
(iv) Currency Risk
"The Company is exposed to currency risk on account of its operating and financing activities. The functional currency of
the Company is Indian Rupee.
The Company has not taken derivative instruments to hedge the foreign currency risk. Also, the Company continuously
monitors the fluctuation in currency risk and ensures that the Company does not have an adverse impact on account of
fluctuation in exchange rates."
Exposure to currency risk
The currency profile of financial assets and financial liabilities as at March 31,2026 and March 31,2025 are as below:
Sensitivity Analysis
A reasonable possible strengthening / weakening of the respective foreign currencies with respect to functional currency of
Group would result in increase or decrease in profit or loss as shown in table below. This analysis assumes that all other
variables, in particular interest rates, remain constant. The following analysis has been worked out based on the
exposures as of the date of statements of financial position.
(v) Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates.
Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing instruments will fluctuate
because of fluctuations in the market interest rates.
The Company primarily enters into fixed-rate instruments which ensures that 80-90% of its interest rate risk exposure is at
a fixed rate.
The Company's exposure to market risk for changes in interest rates primarily relates to overdrafts and cash credits from
banks.
For details of the Company's long-term loans and borrowings, including interest rate profiles, refer to Note 18 of these
financial statements.
Interest rate sensitivity - fixed rate instruments
The Group's fixed-rate deposits and loans with banks are carried at amortised cost. They are therefore not subject to
interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flow will fluctuate because
of a change in market interest rates.
Interest rate sensitivity - 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 amounts shown below. This analysis assumes that all other variables remain constant. This calculation
also assumes that the change occurs at the balance sheet date and has been calculated based on risk exposures
outstanding as at that date. The period end balances are not necessarily representative of the average debt outstanding
during the period.
he Government of India has consolidated 29 existing labour legislations into a unified framework (collectively referred to as
the "Codes"). The Codes have been made effective from November 21,2025. Provision for gratuity and leave encashment
have been made in the books in line with the rules framed under the said framework. Provision for other heads of employee
benefit expenses shall be made from the year 2026-27.
The status of gratuity plan as required under Ind AS-19 :
The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which provides a lump sum
payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on
the respective employee's salary and the tenure of employment.
(vii) Sensitivity Analysis
Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary
increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the
assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of
sensitivity analysis is given below:
Note 44
Capital Management
The objective of the company when managing capital is:
(i) to maintain a strong capital base and healthy capital ratios so as to maintain the investor, creditor and market
confidence,
(ii) to sustain future development of the business, and
(iii) to provide adequate return to shareholders through continuing growth.
These financial needs are fulfilled through a blend of equity and long-term borrowing.
The Capital of the company consists of equity share capital, reserves and surplus and debt capital comprising of Long term
and short term debts.
The Company monitors capital using a gearing ratio, debt-equity ratio and net debt to equity ratio
The Company's overall strategy remains unchanged from previous year.
Note 47
Segment Reporting
"A. General Information
(a) Factors used to identify the entity's reportable segments, including the basis of organisation
Based on the criteria as mentioned in Ind-As-108-’’Operating Segment", the Company has identified its reportable segments,
as follows:
• Segment-1 Agro Products
• Segment-2, Healthcare
• Segment-3, Infrastructure
Unallocable - Expenses which are common among the segments and could not be allocated are categorised under
unallocable.
The Chief Operating Decision Maker (“CODM”) evaluates the Company's performance and allocates resources based on an
analysis of various performance indicators by operating segments. The CODM reviews revenue and gross profit as the
performance indicator for all of the operating segments."
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