K. Provisions, Contingent Liabilities and Contingent assets

a) Provisions are recognized when there is a present obligation (legal or constructive) 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 of the amount of the obligation. These are reviewed at each
Balance Sheet date and adjusted to reflect the current best estimate. The expenses relating to a provision are
recognized in the Statement of Profit and Loss net of any reimbursement.

b) If the effect of time value of money is material, provisions are shown at present value of expenditure expected to
be required to settle the obligation, by discounting using a current pre-tax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost.

c) Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate.

d) Contingent liabilities are possible obligations arising from past events and whose existence will only be
confirmed by occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the Company, or present obligations where it is not probable that an outflow of resources will be required to
settle the obligation, or the amount of the obligation cannot be measured with sufficient reliability. Contingent
liabilities are not recognized in the Ind AS financial statements but are disclosed unless the possibility of an
outflow of economic resources is considered remote.

e) Contingent liabilities are assessed continually to determine whether an outflow of resources embodying
economic benefits has become probable.

f) Contingent asset is a possible asset that arises from past events and whose existence will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
entity. Contingent Assets are not recognized but reviewed at each Balance Sheet date and disclosure is made
in the notes where inflow of economic benefit is probable.

L. Fair Value measurement

a) Fair value is the price that would be received on selling an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date in the principal or, in its absence, the most
advantageous market to which the Company has access at that date.

b) While measuring the fair value of an asset or liability, the Company uses valuation techniques that are
appropriate in the circumstances and for which sufficient data are available to measure the fair value using
observable market data as far as possible and minimizing the use of unobservable inputs. Fair values are
categorized into 3 levels as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices that are observable for the assets or liability, either directly (i.e. as
prices for similar item) or indirectly (i.e. derived from prices).

Level 3: Inputs that are not based on observable market data (unobservable inputs).

i. Financial Assets other than derivatives

The initial recognition of financial assets is made only when the Company becomes a party to the contractual
provisions of the instrument. Initial measurement of financial assets is made at fair values including transaction
costs that are attributable to the acquisition of the financial asset except for those financial assets measured
at fair value through profit or loss.

The subsequent measurement of a financial asset is made at amortised cost if the asset is held within a
business model whose objective is to hold assets for collecting contractual cash flows, and the contractual
terms of the instrument give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding. Amortised cost is net of any write down for impairment loss (if
any) using the Effective Interest Rate (“EIR”) method taking into account any discount or premium and fees or
costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement
of Profit and Loss.

Investments in subsidiaries are accounted for and measured at cost (fair value as deemed cost on first time
adoption) in Ind AS financial statements.

Investments in equity other than subsidiaries are accounted for and measured at fair value through profit or
loss.

A financial asset is derecognised either partly or fully to the extent the rights to receive cash flows from the
asset have expired and / or the control on the asset has been transferred to a third party. On de-recognition,
any gains or losses are recognised in the Statement of Profit and Loss.

ii. Financial Liabilities other than derivatives

The initial recognition of financial liabilities is made only when the Company becomes a party to the contractual
provisions of the instrument. Initial measurement of financial liabilities is made at fair values net of transaction
costs that are attributable to the liability.

After initial recognition, financial liabilities are subsequently measured at amortised cost using the EIR method.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs
that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit
and Loss.

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as
the de-recognition of the original liability and the recognition of a new liability. The difference between the
carrying amount of financial liability extinguished and the consideration paid, including any non-cash assets
transferred or liabilities assumed is recognised in the Statement of Profit and Loss.

iii. Financial guarantee contracts

Financial guarantee contracts issued by the Company are those contracts that require specified payments to
be made to reimburse the holder for a loss it incurs because the specified debtor fails to make a payment when
due in accordance with the terms of a debt instrument. Financial guarantee contracts are recognised initially
as a liability at fair value, adjusted for transaction costs that are directly attributable to the issuance of the
guarantee. Subsequently, the liability is measured at the higher of the amount of loss allowance determined

as per impairment requirements of Ind AS 109 and the amount initially recognised less cumulative amount
of income recognised. Where guarantees in relation to loans or other payables of subsidiary and related
party are provided for no compensation, the fair values are accounted for as contributions and recognised
as fees receivable under “other financial assets” or as a part of the cost of the investment, depending on the
contractual terms.

iv. Offsetting of financial instruments

Financial assets and financial liabilities are offset, and the net amount is reported in the Balance Sheet if there
is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a
net basis, or to realise the assets and settle the liabilities simultaneously.

N. Classification of Assets and Liabilities as Current and Non-Current:

All assets and liabilities are classified as current if they are expected to be realised / settled within twelve
months after the reporting period. All other assets and liabilities are considered as non-current.

O. Impairment
Non-financial Assets

At each Balance Sheet date, an assessment is made of whether there is any indication of impairment. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the
recoverable amount of assets. The recoverable amount is the higher of fair value less costs of disposal in
respect of the asset or Cash-Generating Units (CGU) and their value in use. Recoverable amount is determined
for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
from other assets or groups of assets.

When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered
impaired and is written down to its recoverable amount and impairment loss is charged to Statement of Profit
and Loss.

Financial Assets

The Company assesses at each date of Balance Sheet whether a financial asset or group of financial assets
is impaired. Ind AS 109 requires expected credit losses to be measured through loss allowance. The Company
recognises lifetime expected losses for all contract assets and /or all trade receivables that do not contain a
significant financing component. For all other financial assets, expected credit losses are measured at an
amount equal to the 12 - month expected credit losses if the credit risk on the financial asset has not increased
significantly since initial recognition or at an amount equal to the lifetime expected credit losses if the credit risk
on the financial asset had increased significantly since initial recognition.

P. Non-Current Asset Held for Sale

Non-Current assets are classified as held for sale if their carrying amount is intended to be recovered principally
through sale rather than through continuing use. The condition for classification of held for sale is met when the
non-current asset is available for immediate sale and the same is highly probable of being completed in near
future from the date of classification as held for sale. Non-Current assets held for sale are measured at the
lower of carrying amount and fair value less cost to sell. Subsequent to such classification, such assets are not
depreciated while they are classified as ‘Held for Sale’. Non-current assets that cease to be classified as held
for sale are measured at the lower of carrying amount before the non-current asset was classified as held for
sale adjusted for any depreciation/ amortization and its recoverable amount at the date when the non-current
assets no longer meet the “Held for sale” criteria.

Q. Taxes on Income
Current Tax

Income-tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or
substantively enacted, by the end of reporting period.

Deferred tax

Deferred tax (both assets and liabilities) is calculated using the Balance Sheet method on temporary differences
between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at
the reporting date.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that
taxable profit will be available against which the deductible temporary differences, and the carry forward of
unused tax credits and unused tax losses can be utilised. The amount of deferred tax assets is reviewed at
each reporting date.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when
the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current
tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same
taxation authority.

Current tax and Deferred Tax items are recognised in correlation to the underlying transaction either in the
Statement of Profit and Loss, Other Comprehensive Income or directly in equity.

R. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.

Diluted earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period, adjusted for the
effect of all dilutive potential equity shares.

S. Cash and Cash equivalents

Cash and cash equivalents include cash at bank, cash, cheques and draft on hand. The Company considers
all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that
are readily convertible to known amounts of cash to be cash equivalents.

Cash flows from operating activities are reported using the indirect method, whereby net profit before tax
is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or expenses associated with investing or financing
cash flows. The cash flows from operating, investing and financing activities are segregated.

T. Business Combination

Business combinations involving entities or businesses under common control are accounted for using the
pooling of interest method. Under pooling of interest method, the assets and liabilities of the combining entities
or businesses are reflected at their carrying amounts after making adjustments necessary to harmonise the
accounting policies. The financial information in the financial statements in respect of prior periods is restated
as if the business combination had occurred from the beginning of the preceding period in the financial
statements, irrespective of the actual date of the combination. The identity of the reserves is preserved in
the same form in which they appeared in the financial statements of the transferor and the difference, if any,
between the amount recorded as share capital issued plus any additional consideration in the form of cash or
other assets and the amount of share capital of the transferor is transferred to capital reserve.

Business combinations other than the common control transactions are accounted for applying the acquisition
method. The purchase price is measured as the fair value of the assets transferred, equity instruments issued,
and liabilities incurred or assumed at the date of obtaining control. The cost of acquisition also includes the
fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities
assumed in a business combination are measured initially at their fair value on the date of acquisition. The
contingent consideration is measured at fair value at each reporting date.

Transaction costs incurred in connection with a business acquisition are expensed as incurred. Any subsequent
changes to the fair value of contingent consideration classified as liabilities, other than measurement period
adjustments, are recognised in the statement of profit and loss.

Note No. 4.2

Recent pronouncements

Ministry of Corporate Affairs (MCA) notifies new standard or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time.

I. In May 2025, MCA notified the following amendments:

Ind AS 21: The Effects of Changes in Foreign Exchange Rates- applicable with effect from 1st April 2025.

The amendments are pertaining to exchangeability of currency.

The Company has reviewed the amendments and based on its evaluation has determined that it does not
have any significant impact in its financial statements.

II. In August 2025, MCA notified the following amendments:

a) Ind AS 1: Presentation of Financial Statements- applicable w.e.f. April 1,2025:

The amendment relates to classification of liabilities as current or noncurrent and non-current liabilities with
covenants. The amendments are pertaining to classifying liability as current. Through the amendments, the
requirement of existence of a right to defer settlement for at least 12 months after the reporting date has been
removed. Instead, it is now required that the said right should exist on the reporting date and such right should
have substance. The amendment also introduces guidance on classification of liabilities with covenants.

The Company has reviewed the amendments. Based on its evaluation the Company has determined that
there is no impact of these amendments in its classification criteria of current and non-current liabilities.

b) Ind AS 7: Statement of Cash Flows and Ind AS 107, Financial Instruments: Disclosures- applicable w.e.f. 1st
April, 2025:

The amendment in Ind AS 7 requires informing users of financial statements of the existence of supplier
finance arrangements and explain the nature of the arrangements, the carrying amount of liabilities and the
range of payment due dates. Ind AS 107 has been amended to add supplier finance arrangements as a factor
that may cause concentration of liquidity risk.

The Company has reviewed the amendment. Based on its evaluation the Company has determined that it
does not have any significant impact in its financial statements.

c) Ind AS 12: International Tax Reform - Pillar Two Model Rules- applicable immediately.

The amendments provide temporary mandatory relief from deferred tax accounting for top-up tax and disclose
that they have applied the relief. This relief is immediate and applies retrospectively.

The Company has reviewed the amendments. Based on its evaluation the Company has determined that
there is no impact of these amendments in its financial statements.

Nature and purpose of reserves

a) Capital Reserve :

It represents the gain of capital nature.

b) Capital Reserve arising on business combination :

Capital reserve represents gains of capital nature which mainly include the excess of value of net assets acquired over
consideration paid by the Company for business combination transactions and the same is not available for distribution as
dividends.

c) Capital Redemption Reserve:

Created on redemption of preference shares out of profits in accordance with Companies Act.

d) Securities Premium:

Securities premium represents amount received in excess of face value on issue of shares by the Company. It also includes
transfer of stock compensation related to options exercised from employee stock options reserve. The securities premium
will be utilized in accordance with the provisions of the Companies Act.

e) General Reserve:

General reserve represents the amount of profits appropriated by the Company.

f) Employee Stock Option Reserve:

Employee stock options Reserve represents the fair value of equity-settled transactions and recognized over the period of
vesting and/or service conditions are fulfilled.

g) Investment Allowance Reserve:

It represents reserve created under the Income Tax Act and has been appropriately utilised.

h) Retained Earnings:

Retained earnings represents the undistributed earnings, net of amounts transferred to general reserve; if any.

i) Other Comprehensive Income:

It represents the cumulative actuarial gains/(losses) net of deferred tax on defined employee benefit plans.

Note :

a) The Company had exercised the option of fair value as deemed cost for Property, Plant and Equipment on the date of transition
to Ind-AS i.e.; 1st April 2016. Ind AS required entities to account for deferred taxes using the Balance Sheet approach, which
focuses on temporary differences between the carrying amount of an asset or liability in the Balance Sheet and its tax base.
Accordingly deferred tax liability on account of fair valuing of Land was calculated in prior year.

Under Section 55(2)(b)(i) of Income Tax Act 1961, “fair market value of capital assets means where the capital asset
became the property of the assessee before the 1st day of April, 2001, the cost of acquisition of the asset to the assessee
or the fair market value of the asset on the 1st day of April, 2001, shall be considered at the option of the assessee.”

Accordingly deferred tax liability on account of fair value of Land is calculated and reviewed at each reporting date as required
by Ind AS - 12 'Income Taxes' for changes in respect of temporary differences which have been recognised in previous
periods. In F.Y 2018-19, the Company opted to choose the fair market value of the land as on 01.04.2001 as its cost of
acquisition in accordance with Section 55(2)(b)(i) of Income Tax Act 1961. During financial year 2024-25, consequent to
withdrawal of indexation benefit and change in tax rate the accounting provision for deferred tax liability created on Land was
reversed. This had resulted in creation of deferred tax credit during the year of Rs. Nil Lakhs (P.Y. Rs. 315.90 Lakhs) which
is part of deferred tax credit of Rs. 149.45 Lakhs for the year ended 31st March 2026 (PY deferred tax charge of Rs. 195.19
Lakhs).

Note No 22:

a) Working capital borrowings from consortium banks on cash credit overdraft/short term loan and non-fund
based facilities are secured by first pari passu charge on stock of raw materials, stock in process, semi¬
finished, finished goods and stock in trade, consumable stores and spares, bills receivable, book debts and
other moveable current assets (both present and future) of the Company and second pari passu charge on
the Property, Plant and Equipment’s of the Company (both present and future) at Udhna, Surat.

b) The Company has used the borrowings from banks and financial institutions for the purpose for which it was
obtained.

c) There has not been any default in repayment of borrowings and interest during the current and previous
financial years.

d) The Company is not declared wilful defaulter by any bank or financials institution or other lender.

e) The quarterly statements of current assets filed by the Company with banks are in agreement with the books
of accounts of the Company except for certain differences which has been duly reconciled and presented here
below:

FINANCIAL DERIVATIVE INSTRUMENTS:

a. Derivative contracts entered into by the Company and outstanding as at 31st March 2026 for Hedging currency
and interest related risks.

Nominal number of derivative contracts entered by the Company and outstanding is given below:

c. The Company did not have any long-term contracts including derivative contracts for which there were
any material foreseeable losses.

NOTE 27 -EMPLOYEE BENEFITS:

The Company has classified the various benefits provided to employees as under:
a. Defined Contribution Plans:

The Company has recognized the following amounts in the Statement of Profit and Loss which are included
under contribution to Provident Fund and Other Funds:

Provident Fund:

The Fair value of the assets of the provident fund trust as at the Balance Sheet date is greater than the obligation,
including interest and also the returns on these plan assets including the amount already provided are sufficient to
take care of provident fund interest obligations, over and above the fixed contributions.

NOTE 29 -FAIR VALUE MEASUREMENTS:

The following disclosures are made as required by Ind AS -113 pertaining to Fair value measurement:
a. Accounting classification and fair values

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including
their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial
liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

c. Financial risk management

The Company has exposure to the Credit risk, Liquidity risk and Market risk arising from financial instruments.

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 (RMC), which is responsible for developing and monitoring the Company’s risk
management policies.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company,
to set appropriate risk limits to control / 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’s financial risk management is an integral part of how to plan and execute its business strategies.
The Company’s financial risk management policy is approved by the Board of Directors.

d. 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.

Trade receivables: The Company considers the probability of default upon initial recognition of asset and whether
there has been a significant increase in credit risk on an ongoing basis throughout each reporting period.

Cash and cash equivalents:

The Company held cash and cash equivalents of Rs 1,136.29 lakhs as at 31st March 2026 (31st March 2025: Rs.
332.69 lakhs). The cash and cash equivalents are held with reputed banks.

e. Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or
at a reasonable price. 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.

f. Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and commodity
prices, will affect the Company’s income or the value of its financial instruments. Market risk is attributable to all
market risk sensitive financial instruments including foreign currency receivables and payables, long term debt
and commodity prices. The Company is exposed to market risk primarily related to foreign exchange rate risk,
interest rate risk and commodity price risk.

g. Interest rate risk:

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate
risk is the risk of changes in fair values of fixed interest-bearing investments because of fluctuations in the
interest rates, in cases where the borrowings are measured at fair value through the Statement of Profit and
Loss. Cash flow interest rate risk is the risk that the future cash flows of floating interest-bearing investments will
fluctuate because of fluctuations in the interest rates.

Exposure to Interest rate risk:

The Company’s interest rate risk arises from borrowings. The interest rate profile of the Company’s interest¬
bearing long term financial instruments is as follows:

h. 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.

To the extent the exposures on purchases and borrowings are not economically hedged by the foreign currency
denominated receivables, the Company uses derivative instruments, like, foreign exchange forward contracts
to mitigate the risk of changes in foreign currency exchange and principal only swap rates. The Company does
not use derivative financial instruments for trading or speculative purposes.

The Company evaluates exchange rate exposure arising from foreign currency transactions and the Company
follows established risk management policies including the use of derivatives like foreign exchange forward
contracts to hedge exposure.

Performance obligations are satisfied at the point of time when the customer obtains the controls of the goods.
The Company has not disclosed the information required to be given as per Ind AS 115 -"Revenue from Contracts
with Customers" as all the unsatisfied performance obligations as on 31st March 2026 which are part of contract
is expected to be completed within duration of one year in accordance with para 121 of Ind AS 115.

NOTE 31:CAPITAL MANAGEMENT:

For the purpose of the Company’s capital management, capital includes issued equity capital, share premium
and all other equity reserves. The primary objective of the Company’s capital management is to maximise the
shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and
the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust
the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors
capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes
within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents,
excluding discontinued operations.

The Company had total cash outflows for leases of Rs.154.84 lakhs (PY Rs. 145.45 Lakhs) (excluding interest)
for the year ended 31st March 2026. The Company did not have any non-cash additions to right-of-use assets
and lease liabilities for the year ended 31st March 2026. Further, there are no future cash outflows relating to
leases that have not yet commenced.

NOTE 35

Audit, Legal and Professional Charges shown under other expenses (Note 21), includes the following payments
to auditors:

During the previous year, the Scheme of Amalgamation and Arrangement under Section 230-232 and other
applicable provisions of the Companies Act 2013, for amalgamation of Batliboi Environmental Engineering Limited
(‘Amalgamating Company’) with the Company was sanctioned by the Hon’ble National Company Law Tribunal
(‘NCLT’), Mumbai Bench vide order dated 24th March 2025. The Appointed date of the Scheme was 1st April 2023
and in terms of the Scheme all the assets, liabilities, reserves and surplus of the Amalgamating Company had
been transferred to and vested in the Company. Consequent to the Scheme coming into effect, in accordance with
the share exchange ratio as specified in the Scheme, the Company had to allot 1,26,81,963 equity shares of Rs.
5/- each and 2,70,000 8% Redeemable Non-Cumulative preference shares of Rs. 100/- each to the equity and
preference shareholders of the Amalgamating Company. The equity shares have been allotted on 24th June 2025
and the preference shares has been allotted on 23rd March 2026. The amalgamation had been accounted under
the ‘pooling of interest’ method in accordance with Appendix C of Ind AS 103 ‘ Business Combinations’.

Note 39:

Exceptional Item - Expense:

On 21st November 2025, the Government of India notified four labour codes - Code on Wages, 2019, the
Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and
Working Conditions Code, 2020, (‘Labour Codes’) consolidating twenty-nine existing labour laws. The Company
has assessed the financial implications of these changes and has made provision for gratuity arising out of past
service cost and leave benefits of Rs. 748.86 Lakhs on estimated basis. Considering the regulatory-driven non¬
recurring nature and material impact, the Company has presented this incremental provision as “Exceptional Item”
in the Statement of Profit and Loss for the year ended 31st March 2026. The Company continues to monitor the
developments pertaining to Labour Codes and will evaluate impact if any on the measurement of liability pertaining
to employee benefits.

NOTE 40:ADDITIONAL REGULATORY DISCLOSURES:

i) a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including
foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the
Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

b) The Company has not received any fund from any party(s) (Funding Party) with the understanding that
the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or
on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf
of the Ultimate Beneficiaries.

ii) For the year ended 31st March 2026, there are no instances of transactions not recorded in the books of
account, which have been surrendered or disclosed as income in the tax assessments under the Income
Tax Act, 1961 (43 of 1961).

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

iv) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with the Companies (Restriction on number of Layers) Rules, 2017.

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

vi) There is no charge form filed beyond the statutory period for registration of charges or satisfaction with
Registrar of Companies.

vii) The Company has not granted any loans or advances in the nature of loans to its promoters, directors, Key
Managerial Personnel’s and the related parties, either severally or jointly with any other person, that are
repayable on demand and/or without specifying any terms or period of repayment.

Notes:

1) Reduction in profit and loss on account of exceptional item during the year along with lower repayment of debt
as compared to previous year has resulted in significant variance in the ratio.

2) Reduction in profit and loss on account of exceptional item during the current year as against profit in previous
year has resulted in significant variance of the respective ratio.

3) Increase in revenue from operations and reduction in average working capital has resulted in significant
variance in the ratio.

Note 41

Proposed Dividend on Equity and Preference Shares

The Board of Directors at its meeting held on 20th May 2026, has proposed to declare final dividend of Rs. 0.60 per
equity share (12%) [P.Y. Rs. 0.60 per equity share] and Rs.1.00 per preference share (1% on 6,92,480 Preference
shares) [P.Y. Rs. 1.00 per preference share] and Rs. 8.00 per preference share (8% on 2,70,000 Preference
shares) for the year ended 31st March 2026 [P.Y. Rs. Nil] subject to approval of shareholders at the ensuing Annual
General Meeting of the Company.

NOTE 42:EVENTS AFTER REPORTING DATE:

There have been no significant events after the reporting date that requires disclosure in these Ind AS financial
statements.

NOTE 43:

Previous year’s figures have been reclassified and re grouped to conform to current years classification and
grouping.