t) Provision and contingent liabilities

A provision is recognised if as a result of a past event, the
Company has a present obligation (legal or constructive)
that can be estimated reliably and it is probable that an
outflow of economic benefits will be required to settle the
obligation. Provisions are recognised at the best estimate
of the expenditure required to settle the present obligation
at the balance sheet date.

A contingent liability exists when there is a possible but
not probable obligation, or a present obligation that may,
but probably will not, require an outflow of resources, or
a present obligation whose amount cannot be estimated
reliably. Contingent liabilities do not warrant provisions but
are disclosed unless the possibility of outflow of resources
is remote.

u) Discontinued operations and non-current assets held for
sale

Discontinued operation is a component of the Company
that has been disposed of or classified as held for sale and
represents a major line of business.

Non-current assets and disposal groups are classified as
held for sale if their carrying amount is intended to be
recovered principally through a sale (rather than through
continuing use) when the asset (or disposal group) is
available for immediate sale in its present condition subject
only to terms that are usual and customary for sale of such
asset (or disposal group) and the sale is highly probable
and is expected to qualify for recognition as a completed
sale within one year from the date of classification.

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

Note 2 : Critical estimates and judgements

In applying the accounting policies, which are described in note
1B, the management are required to make judgements (other than
those involving estimations) that have a significant impact on the
amounts recognized and to make estimates and assumptions
about the carrying amounts of assets and liabilities that are not
readily apparent from other sources. The estimates and associated
assumptions are based on historical experience and after
considering the impact of macro economic factors including geo¬
political factors that are considered to be relevant. Actual results
may differ from these estimates.

The estimates and underlying assumptions are reviewed on an
ongoing basis. Revisions to accounting estimates are recognised in
the period in which the estimate is revised if the revision affects only
that period, or in the period of the revision and future periods if the
revision affects both current and future periods.

This note provides an overview of the areas that involved a higher
degree of judgement or complexity, and of items which are more
likely to be materially adjusted due to estimates and assumptions
turning out to be different than those originally assessed.

(a) Recognition and measurement of defined benefit
obligations

The obligation arising from defined benefit plan is determined
on the basis of actuarial assumptions. Key actuarial
assumptions include discount rate, trends in salary escalation
and vested future benefits and life expectancy. The discount
rate is determined by reference to market yields at the end
of the reporting period on government bonds. The period to

maturity of the underlying bonds correspond to the probable
maturity of the post-employment benefit obligations.

(b) Estimation of useful life

Useful lives of tangible assets and intangible assets are
based on the estimate by the management. The useful
lives as estimated are same as prescribed in Schedule II of
the Companies Act, 2013. In cases, where the useful lives
are different from that prescribed in Schedule II, they are
based on management estimate, taking into account the
nature of the asset, the estimated usage of the asset, the
operating conditions of the asset, past history of replacement,
anticipated technological changes, manufacturers' warranties
and maintenance support. Assumptions also need to be
made, when the Company assesses, whether an asset may
be capitalized and which components of the cost of the asset
may be capitalised.

The useful lives and residual values of Company's assets are
determined by management at the time the asset is acquired
and reviewed annually for appropriateness. The lives are
based on historical experience with similar assets as well as
anticipation of future events which may impact their life such
as changes in technology.

(c) Provisions and contingent liabilities

The Company exercises judgement in measuring and
recognising provisions and the exposures to contingent
liabilities related to pending litigation or other outstanding
claims subject to negotiated settlement, mediation, arbitration
or government regulation, as well as other contingent
liabilities. Judgement is necessary in assessing the likelihood
that a pending claim will succeed, or a liability will arise, and
to quantify the possible range of the financial settlement.
Because of the inherent uncertainty in this evaluation process,
actual losses may be different from the originally estimated
provision.

(d) Impairment of assets

The Company reviews the carrying amounts of its property,
plant and equipment, Capital work in progress and intangible
assets, whenever events or changes in circumstances indicate
that the carrying amount may not be recoverable. If any
such indication exists, the recoverable amount of the asset is
estimated to determine the extent of the impairment loss (if
any). Further details on the Company's accounting policies on
this are set out in the accounting policy above. Determining
whether an asset is impaired requires an estimation of the
recoverable amount, which requires company to estimate the
Fair value less cost of disposal.

(ii) Estimation of fair value

The Company has two freehold properties (March 31, 2024: two freehold properties) that have been considered as Investment
Properties. These comprise of two vacant land sites (March 31, 2024: two vacant land sites) that are not in operational use at present.

In the view of the management, the fair market value of the land sites is not reliably measurable as there are very few recent transactions
of comparable composition of these properties in the market. Further, the fair market value will be subject to numerous municipal
deductions dependent upon the current use and intended use of the property. Based on the above, it is not possible to ascertain
and disclose the range of fair market value. The estimated Ready Reckoner value at year end, based on latest published data and
on current stated use, totals ' 296,94.26 lakhs (March 31, 2024: ' 296,94.26 lakhs). Ready Reckoner rates are the prices of residential
property, land or commercial property for a given area that is published and regulated by the respective State Governments as a
guide towards payment of stamp duty at the time of transaction. The Ready Reckoner Value is regarded as a gross value and does not
represent the underlying fair market value of the properties. The Company will further detail the fair value of its investment properties
upon entering a committed agreement with a third party, unless an alternative reliable estimate of the fair value is attainable.

Notes:

a) On account of one off VRS (Voluntary Retirement Scheme) cost in previous year of ' 10794.48 lakhs and other employee dues of
' 55,35.79 lakhs.

Note 39 : Employee benefit obligations

The Company obtained actuarial reports as required by IND AS 19 (Employee Benefits) based on which disclosures have been made in the
financial statement for the year ended March 31, 2025. The disclosures as required by the IND AS 19 are as below.

(i) Defined Contribution Plan

The Company's defined contribution plans are superannuation and employees' pension scheme (under the provisions of the Employees'
Provident Funds and Miscellaneous Provisions Act, 1952). The obligation of the Company is limited to the amount contributed and it
has no further contractual or constructive obligation.

(ii) Defined Benefit Plan
Gratuity

The Company makes annual contributions to an income tax approved irrevocable trust gratuity fund to finance the plan liability, a
funded defined benefit plan for qualifying employees. The scheme provides for payment as under:

i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of the Payment of Gratuity Act, 1972 with
vesting period of 5 years of service.

ii) On death in service: As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.

Post - Retirement medical benefit

The Company earmarks liability towards unfunded Post - Retirement medical benefit and provides for payment to vested employees.
The benefits under the plan are in form of a medical benefit paid to employees post their employment with the Company.

Provident Fund

The liability of the Company on the exempt Provident Fund managed by the trustees is restricted to the interest shortfall if any.

Leave Encashment and compensated absences

The scheme is a non-contributory defined benefit arrangement providing benefits expressed in terms of a multiple of final monthly
salary. The liability for leave encashment and compensated absences as at year end is ' 32,86.07 lakhs. (March 31, 2024: ' 29,29.11
lakhs).

Based on the actuarial valuations obtained, the following table sets out the status of the gratuity plan, post retirement medical
benefits and provident fund and the amounts recognised in the Company's Standalone Financial Statements as at balance sheet
date:

Notes:

(a) Estimated amount of contracts (net of advances) remaining to be executed on capital account and not provided mainly comprises
the miscellaneous capitalisations at site.

(b) Future cash outflow is dependent on the call to be made by Hill Properties Limited.

Note 41 : Pricing Matters

The demand of '71,79.00 lakhs made by the Central Government on the Company in respect of Betamethasone bulk drugs and formulations
made therefrom during the period May 1981 to August 1987 has been under litigation for a period spanning over 30 years. Pursuant to the
special leave petition of the Central Government in the Supreme Court of India against the Delhi High Court's Judgment and Order dated
October 19, 2001 which was held in favour of the Company, the Supreme Court has, vide its Judgement and Order dated March 31, 2011,
upheld the demand. The Company had accrued a liability of ' 18,68.00 lakhs in earlier years and a further provision of ' 53,11.00 lakhs was
accrued in 2011.

Based on legal advice, the Company has filed an application in the Supreme Court seeking, inter alia, clarifications on some aspects of
the Judgement and directions for recomputation of the demand. Simultaneously, the Company without prejudice to and subject to the
outcome of the application filed in the Supreme Court, has tendered as a further deposit, an amount of ' 63,60.00 lakhs, which together
with the amount of ' 8,19.00 lakhs previously deposited with the Government, aggregates the demand of ' 71,79.00 lakhs made by the
Government in November 1990. The Company filed a review petition in the Supreme Court which was rejected in March 2012.

Pursuant to the payment of the principal amount in accordance with the directions of the Supreme Court, in October 1996, the Government
had claimed interest of ' 11766.00 lakhs for the period May 12, 1981 to October 17, 1996, for which no provision was made in earlier years.
The Government had vide letter dated May 4, 2011 called upon the Company to discharge the entire liability, including upto date interest
calculated at 15% p.a., and had vide letter dated October 10, 2011, raised a demand on the Company for the interest amount amounting
to ' 247,44.00 lakhs. Without prejudice to the position that interest is not payable, the Company had recognized a provision of ' 247,44.00
lakhs in respect of the Government's claim for interest in 2011. The Company had filed a writ petition at Delhi High Court against the
above demand which had been admitted. The Company also filed stay applications which were dismissed and the Company had filed
a Special Leave Petition (SLP) before the Supreme Court for stay of the interest demand until final determination of the writ petition
filed in the Delhi High Court. The Supreme Court on hearing the above SLP, passed an order on April 3, 2012. The said order stayed the
Demand Notice dated October 10, 2011 during the pendency of the writ petition at the Delhi High Court subject to the Company depositing
' 136,82.00 lakhs in three equal installments within six month's time from the date of order. All three instalments have been deposited with
the Government. The Supreme Court, vide its order dated October 5, 2012, directed the Delhi High Court to dispose of the writ petition as
expeditiously as possible. The Company's counsel has been routinely appearing in the matter. Next date of the matter is May 8th, 2025.

Note 42 : Matters in respect of erstwhile Burroughs Wellcome (India) Limited (BWIL):

(i) The Government of India, Ministry of Chemicals and Fertilisers, New Delhi, passed a final order on July 21, 1993, directing erstwhile
BWIL to pay an amount of ' 1,91.15 lakhs along with interest due thereon from the date of default into the Drugs Prices Equalisation
Account (DPEA) in respect of a bulk drug procured by erstwhile BWIL during the period April 1981 to April 1983.

Erstwhile BWIL filed a writ petition in August 1993 which was admitted by the Bombay High Court. After hearing both the parties,
the High Court granted an interim injunction restraining the Government of India from taking any action in furtherance of and/or
implementation of the order dated July 21, 1993 or from in any manner seeking to compel erstwhile BWIL to deposit any amount into
the DPEA, pending the hearing and final disposal of the petition on the condition that erstwhile BWIL furnishes a bank guarantee for
' 2,00.00 lakhs from a nationalised bank and undertakes to pay the amount demanded with interest at the rate of 20% per annum in
case the petition fails.

Erstwhile BWIL had accordingly furnished the required bank guarantee. If calculated on the basis of correct data, taking into account
set offs claimable for earlier years for which data has been provided by erstwhile BWIL, no amount will be payable by the Company
and accordingly no provision in that respect is considered necessary. The Company's stand that the demand is not sustainable has
been confirmed by an eminent counsel. The Government of India's application in the Supreme Court praying that the writ petition
be transferred to the the Supreme Court from the Bombay High Court was not allowed and the Company's writ petition is pending
hearing by the Bombay High Court.

(ii) Erstwhile BWIL had made an application to the Government of India for approval under Section 198(4) of the Companies Act, 1956, in
respect of payment to the Managing Director and three whole time Directors amounting to ' 10.93 lakhs for the year ended August 31,
1986, which was in accordance with the minimum remuneration provided in the agreements entered into with them prior to erstwhile
BWIL becoming public, which required such Government of India's sanction. The approval is still awaited.

Note 43 : Matters in respect of erstwhile SmithKline Beecham (India) Limited:

(i) ' 1,44.44 lakhs received from Beckman Instruments International S.A. on account of disputed alleged additional commission has been

included under non-current provisions and Income tax paid thereon aggregating ' 64.77 lakhs has been included under other non¬
current assets. The Company is contesting the matter with the concerned authorities.

(ii) Refund of surtax ' 96.81 lakhs, and interest thereon amounting to ' 48.52 lakhs, received during 1994, have not been adjusted against
the provision for tax in the books of accounts and recognised as income respectively, since the Income tax department had filed a
reference application against the income tax tribunal's order which was pending before the High Court of Karnataka. The Company
has received an order dated April 18, 2007 from the High Court of Karnataka which is partially in the Company's favour. On the basis of
the aforesaid order, Income Tax Appellate Tribunal (ITAT), Bangalore will pass an order giving directions. On receipt of the ITAT order,
the Company will take appropriate steps in the matter.

B. Fair Value Hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a)
recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the Standalone
Financial Statements.

(a) Financial instruments that are recognised and measured at fair value

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial
instruments into the three levels prescribed under the accounting standard.

Level 1 : It includes financial instruments measured using quoted prices

Level 2 : The fair value of financial instruments that are not traded in an active market is determined using valuation techniques
which maximise 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 : Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable.

The impact of fair valuation of the above Financial assets and liabilities is considered to be insignificant and hence carrying value
and the fair value is considered to be same.

The carrying amounts of Trade receivables, Cash and cash equivalents, Bank balances other than Cash and cash equivalents,
Interest accrued on deposits with bank, Receivable from group companies, Advances recoverable, Payable to employees,
Unclaimed Dividends, Trade payables, Creditors for capital goods, Rationalisation relating to a manufacturing site and Other
Payables are considered to be the same as their fair values due to their short term nature.

C. Financial risk management

The Company has exposure to the following risks arising from financial instruments:

• Credit risk ;

• Liquidity risk ; and

• Market risk

Risk management framework

The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk management
framework. The board of directors has established the Risk Management Committee, which is responsible for developing and
monitoring the Company's risk management policies. The committee reports regularly to the board of directors on its activities.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate
risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to
reflect changes in market conditions and the Company's activities. The Company, through its training and management standards
and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles
and obligations.

The audit committee oversees how management monitors compliance with the Company's risk management policies and procedures,
and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is
assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls
and procedures, the results of which are reported to the audit committee.

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.

Trade and other receivables

The Company's trade receivables are largely from sales made to wholesale customers and direct sales to hospitals with a smaller
proportion of sales to Indian Government Institutions. The Company's exposure to credit risk is influenced mainly by the individual
characteristics of each customer, demographics of the customer and the default risk of the industry.

The Company manages credit risk through credit approvals, establishing credit limits and continuously monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business.

Exposures to customers outstanding at the end of each reporting period are reviewed to determine incurred and expected credit
losses and the Company establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses
in respect of trade receivables. Historical trends of impairment of trade receivables do not reflect any significant credit losses. Given
that the macro economic indicators have undergone change, it has not affected the customers of the Company substantially, hence
the Company expects the historical trend of minimal credit losses to continue. The impairment loss as at March 31, 2025 relates to
customers that have defaulted on their payments to the Company and are not expected to be able to pay their outstanding balances,
mainly due to economic circumstances.

In case of receivables from wholesale customers and hospitals, the Company has followed a provision approach consistent with
expected credit loss approach as per IndAS 109.

Summary of the Company's ageing of outstanding from various customers and impairment for expected Credit Loss is as follows:

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company
manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under
both normal and stressed conditions, without incurring unacceptable losses or risk to the Company's reputation.

The Company's principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations.
The Company has no outstanding bank borrowings. The Company believes that the working capital is sufficient to meet its current
requirements. Any short-term surplus cash generated, over and above the amount required for working capital management and
other operational requirements, are retained as Cash and Investment in short term deposits with banks and mutual funds. The said
investments are made in instruments with appropriate maturities and sufficient liquidity.

As of March 31, 2025, the Company had working capital of ' 1482,73.42 lakhs, including cash and cash equivalents of ' 536,21.96
lakhs, investments in term deposits (i.e., bank certificates of deposit having original maturities of more than 3 months but less than
12 months) of ' 841,01.00 lakhs and Current investments of ' 1118,24.59 lakhs. As of March 31, 2024, the Company had working capital
of ' 1254,90.23 lakhs, including cash and cash equivalents of ' 62,1491 lakhs, investments in term deposits (i.e., bank certificates of
deposit having original maturities of more than 3 months but less than 12 months) of ' 97942.87 lakhs and Current investments of '
813,22.33 lakhs.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and
undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

Market risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market rates
and prices (such as interest rates and foreign currency exchange rates) or in the price of market risk-sensitive instruments as a result of
such adverse changes in market rates and prices. Market risk is attributable to all market risk-sensitive financial instruments, all foreign
currency receivables and payables. The Company is exposed to market risk primarily related to foreign exchange rate risk and risk on
its investments. However since the investments are in overnight and liquid funds the risk is negligible.

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit and loss, where any
transaction references more than one currency or where assets/liabilities are denominated in a currency other than the functional
currency of the entity.

The Company is exposed to currency risk on account of its receivables and payables in foreign currency. The functional currency of
the Company is Indian Rupee. The Company has exposure to GBP, USD, EUR and other currencies. The Company has not hedged this
foreign currency exposure and strives to achieve asset liability offset of foreign currency exposure.

Note 49 : Capital Management
(a) Risk Management

The Company's policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to
sustain future development of the business. Management monitors the return on capital as well as the level of dividends to ordinary
shareholders.

The Company has adequate cash and bank balances and no interest bearing liabilities. The Company monitors its capital by a
careful scrutiny of the cash and bank balances, and a regular assessment of any debt requirements. In the absence of any interest
bearing debt, the maintenance of debt equity ratio etc. may not be of any relevance to the Company.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2025 and
March 31, 2024.

Note 50 : Segment Reporting

An operating segment is one whose operating results are regularly reviewed by the entity's chief operating decision maker to make
decisions about resources to be allocated to the segment and assess its performance. The Company has identified the Chief Operating
Decision Maker as its Managing Director. The Chief Operating Decision Maker reviews performance of pharmaceutical business on an
overall basis. As the Company has a single reportable segment, the segment wise disclosure requirements of Ind AS 108 on Operating
Segment is not applicable. In compliance to the said standard, Entity-Wide disclosures are as under:

Note 52 : Share-based payment arrangements
Restricted Share Awards (RSAs)

Certain employees of the Company are entitled to receive cash/equity settled stock based awards ('awards') pursuant to employee share
schemes ('scheme') administered by GlaxoSmithKline Plc. ('Plc').

Under these plans, certain employees are granted cash / equity settled RSAs at no cost, which entitle them to receive cash equivalent to
the stock price of the Plc's shares or shares of the Plc's listed at London stock exchange after two and a half to three year vesting period
during which the employee has to remain in continuous employment with the Company. These RSAs do not give any voting rights or the
right to accrue dividends and there are no performance criteria attached.

The fair value of these awards is determined based on the closing share price on the day of grant, after deducting the expected future
dividend yield of 3.8% (Previous Year 3.8%) over the duration of the award.

Performance Share Plan

Under the Performance Share Plan, share awards are granted to Directors and senior executives at no cost. The percentage of each award
that vests is based upon the performance of the Company over a defined measurement period with dividends reinvested during the same
period. The performance conditions since 2022 are based on five measures over a three-year performance period. These are TSR (30%),
pipeline progress (20%), profit measure (20%), sale measure (20%) and ESG environment (10%).

The fair value of the awards is determined based on the closing share price on the day of grant. For TSR performance elements, this is
adjusted by the likelihood of that condition being met, as assessed at the time of grant.

During the year ended March 31, 2025, awards were made of 8,610 shares at a weighted fair value of GBP 16.51 (Previous year ended March
31, 2024 , awards made of 9,790 shares at a weighted fair value of GBP 12.46). As at March 31, 2025 there were outstanding awards of 27,010
shares (Previous year ended March 31, 2024 outstanding awards of 18,865 shares).

Note 54 :

The Company on September 30, 2021, post the approval of the shareholders had acquired the assets and liabilities associated with the
vaccine business of GlaxoSmithKline Asia Private Limited. The Company accounted the acquisition in accordance with Appendix C to IND
AS 103 being business combination of entities under common control. Accordingly, the financial information in respect of prior periods
was restated for the acquisition as if the business combination occurred from the beginning of preceding periods. The Company took over
the assets at amortised cost of ' 1,29.00 lakhs, liabilities at ' 20,44.00 lakhs and the consideration paid amounts to ' 1,66.00 lakhs. The
difference between the consideration paid and the net assets taken over on acquisition of ' 20,82.00 Lakhs was transferred to Capital
reserve.

Note 56 : Additional information

(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 has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(iii) 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.

(iv) 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.

(v) The Company does not have 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).

Note 57 : Event occurring after balance sheet date

The Board of Directors has recommended a final dividend of ' 42 per equity share of face value of ' 10 each for this year. (March 31, 2024:
' 32 per share) (Refer Note 49 (b)).

Note 58:

As per MCA notification dated August 05, 2022, the Central Government has notified the Companies (Accounts) Fourth Amendment Rules,
2022. As per the amended rules, Companies are required to maintain daily back-up of the books of account and other relevant books and
papers which are maintained in electronic mode on servers physically located in India.

The books of account of the Company and other relevant books and papers are maintained in electronic mode other than certain records
and papers which are physically maintained in India. The electronic books of accounts are always readily accessible from India and
currently a daily backup is maintained on servers located in India w.e.f. November 29, 2024.

Note 59: Approval of financial statements

The financial statements were approved for issue by the Board of Directors on May 13, 2025.

For and on behalf of the Board of Directors

R. S. Karnad B. Akshikar J. Chandy

Chairperson Managing Director CFO & Whole-time Director

DIN: 00008064 DIN: 09112346 DIN: 09530618

Somasundaram PR A. Nadkarni

Audit Committee Chairman Company Secretary

DIN: 00356363 FCS 10460

Mumbai, May 13, 2025