r. Provisions and contingent liabilities

The Company recognises a provision when there is a present obligation as a result of an obligating event that probably
requires outflow of resources and a reliable estimate can be made of the amount of the obligation. When some or all of the
economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised
as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured
reliably. When a provision is measured using the cash flows estimated to settle the present obligation, it's carrying amount is
the present value of those cash flows (when the effect of the time value of money is material). Insurance claims are accounted
for on the basis of claims admitted and to the extent that the amount recoverable can be measured reliably and realisation in
respect thereof is virtually certain.

A disclosure of a contingent liability is made when there is a possible obligation or a present obligation that may, but probably
will not, require an outflow of resources. When there is a possible obligation or a present obligation and the likelihood of
outflow of resources is remote, no provision or disclosure of contingent liability is made.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

s. Leases

The Company assesses whether a contract is or contains a lease, at the inception of a contract. A contract is, or contains, a
lease if the contract conveys the right to control the use of an identified asset for a time in exchange for a consideration.
Company as a lessee

The Company recognises a right-of-use asset and corresponding lease liability at the lease commencement date with respect
to all lease arrangements in which it is a lessee, except for short- term leases (defined as leases with a lease term of 12 months
or less) and leases of low-value assets. For these leases, the Company recognises the lease payments as an operating expense
on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in
which economic benefits from the leased assets are consumed.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net
present value of fixed payments (including in-substance fixed payments).

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any
lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to
dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease
incentives received.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date over the
lease term and evaluated for any impairment losses and adjusted for any remeasurement of the lease liability.The Company
applies Ind AS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as
described in the policy for 'Impairment of tangible and intangible assets'.

Whenever the Company incurs an obligation for costs to dismantle and remove leased assets, restore the site on which it
is located or restore the underlying asset to the condition required by the terms and conditions of the lease, a provision is
recognised and measured under Ind AS 37. To the extent those costs relate to a right- of-use asset, the costs are included in
the right-of-use asset, unless the costs are incurred to produce inventories.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement
date, discounted using the Company's incremental borrowing rate. It is re-measured when there is a change in future lease
payments arising from a change in an index or rate, if there is a change in the Company's estimate of the amount expected to
be payable under a residual value guarantee, or if the Company changes its assessment of whether it will exercise a purchase,
extension or termination option. When the lease liability is re-measured in this way, a corresponding adjustment is made
to the carrying amount of the right-of-use asset or is recorded in the statement of profit or loss if the carrying amount of the
right-of-use asset has been reduced to zero.

In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise
an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only
included in the lease term if the lease is reasonably certain to be extended (or not terminated).

For leases terms, the following factors are normally the most relevant:

— If there are significant penalties to terminate (or not extend), the Company is typically reasonably certain to extend (or
not terminate)

— If any leasehold improvements are expected to have a significant remaining value, the Company is typically reasonably
certain to extend (or not terminate)

— Otherwise, the Company considers other factors including historical lease durations and the costs and business
disruption required to replace the leased asset

The lease term is reassessed if an option is actually exercised (or not exercised) or the Company becomes obliged to exercise
(or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in
circumstances occurs, which affects this assessment, and that is within the control of the lessee

Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability
and right-of-use asset. The related payments are recognised as an expense in the period in which the event or condition that
triggers those payments occurs and are presented in the line 'Other Expenses' in the statement of profit or loss.

The right-of-use assets and lease liabilities are presented as a separate line item in the balance sheet.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of the assets to the lessee
are classified as operating leases.

Lease receipts under operating leases are recognised as an income, on a straight-line basis in the statement of profit and loss
over the lease term.

The Company does not have any finance lease arrangements.

t. Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision¬
maker (CODM). The CODM, who is responsible for allocating resources and assessing performance of the operating
segments, has been identified as the divisional Chief Executive Officers.

Segments are organised based on business which have similar economic characteristics as well as exhibit similarities in
nature of products and services offered, the nature of production processes, the type and class of customer and distribution
methods.

Segment revenue arising from third party customers is reported on the same basis as revenue in the standalone financial
statements. Inter-segment revenue is reported on the basis of transactions which are primarily market led. Segment results
represent profits before finance charges, unallocated expenses and taxes.

"Unallocated expenses" represents revenue and expenses attributable to the Company as a whole and are not attributable to
segments.

u. Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial assets and financial liabilities are recognised when the Company becomes a party
to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value
except for trade receivables that do not have a significant financing component which are measured at transaction price.
Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than
financial assets and financial liabilities at fair value through profit and loss) are added to or deducted from the fair value of
the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit and loss are recognised immediately in the
statement of profit and loss.

Financial assets and liabilities are offset and the net amount is included in the balance sheet where there is a legally enforceable
right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability
simultaneously.

v. Financial assets

All regular way purchases or sales of financial assets are recognised and derecognised, as applicable, using trade date
accounting or settlement date accounting. Regular way purchases or sales are purchases or sales of financial assets that
require delivery of assets within the time frame established by regulation or convention in the marketplace.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending
on the classification of the financial assets.

Classification

Management determines the classification of an asset at initial recognition depending on the purpose for which the assets

were acquired. The subsequent measurement of financial assets depends on such classification.

Financial assets are classified as those measured at:

(a) Amortised cost, where the financial assets are held solely for collection of contractual cash flows and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest
on the principal amount outstanding.

(b) Fair value through other comprehensive income, where the financial assets are held not only for collection of cash
flows arising from payments of principal and interest but also from the sale of such assets. Such assets are subsequently
measured at fair value, with unrealised gains and losses arising from changes in the fair value being recognised in other
comprehensive income.

(c) Fair value through profit and loss, where the assets are managed in accordance with an approved investment strategy
that triggers purchase and sale decisions based on the fair value of such assets. Such assets are subsequently measured
at fair value, with unrealised gains and losses arising from changes in the fair value being recognised in the statement
of profit and loss in the period in which they arise.

Trade receivables, cash and cash equivalents, other bank balances, loans and other financial assets are classified for
measurement at amortised cost. Derivative instruments are measured at fair value through profit and loss while investments
may fall under any of the aforesaid classes. However, in respect of particular investments in equity instruments that would
otherwise be measured at fair value through profit and loss, an irrevocable election at initial recognition may be made to
present subsequent changes in fair value through other comprehensive income.

Financial assets at amortised cost are subsequently measured at amortised cost using effective interest method. The effective
interest method is a method of calculating the amortised cost of an instrument and of allocating interest income over the
relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees
and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums
or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying
amount on initial recognition.

Trade Receivables

Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business
and reflects the Company's unconditional right to consideration (i.e., payment is due only on the passage of time). Trade
receivables are recognised initially at the transaction price as they do not contain significant financing components. The
Company holds the trade receivables with the objective of collecting the contractual cash flows and therefore measures it
subsequently net of loss allowances.

Cash and Cash Equivalents

For the purpose of presentation in the Statement of Cash Flows, cash and cash equivalents includes cash on hand, deposits
held at call with financial institutions, other short term, highly liquid investments with original maturities of three months or
less that are readily convertible to known amounts of cash and which are subject to an in significant risk of changes in value.
Recognition

Financial assets include investments, trade receivables, derivative instruments, cash and cash equivalents, other bank
balances, loans and other financial assets. Such assets are initially recognised at transaction price when the Company becomes
party to contractual obligations. The transaction price includes transaction costs unless the asset is being fair valued through
the statement of profit and loss.

Impairment

At each reporting date a financial asset such as investment, trade receivable, loans and other financial assets held at amortised
cost and financial assets that are measured at fair value through other comprehensive income are tested for impairment
based on evidence or information that is available. Expected credit loss is assessed and loss allowance is recognised if the
credit quality of that financial asset has deteriorated significantly since initial recognition.

Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the assets.
For trade receivables and contract assets, the Company applies asimplified approach in calculating ECLs. The Company
has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors
specific to the debtors and the economic environment.

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic
prospect of recovery. This is generally the case when the Company determines that the trade receivable does not have
assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However,
financial assets that are written off could still be subject to enforcement activities under the Company's recovery procedures,
taking into account legal advice where appropriate. Any recoveries made are recognised in statement of profit and loss.

Reclassification

When and only when the business model is changed the Company shall reclassify all affected financial assets prospectively
from the reclassification date as subsequently measured at amortised cost, fair value through other comprehensive income,
fair value through profit and loss without restating the previously recognised gains, losses or interest and in terms of the
reclassification principles laid down in the Ind AS relating to financial instruments.

De-recognition

Financial assets are derecognised when the right to receive cash flows from the assets has expired, or has been transferred,
and the Company has transferred substantially all of the risks and rewards of ownership. Consequently, if the asset is one
that is measured at:

(a) Amortised cost, the gain or loss is recognised in the statement of profit and loss.

(b) Fair value through other comprehensive income, the cumulative fair value adjustments previously taken to reserves
are reclassified to the statement of profit and loss unless the asset represents an equity investment in which case the
cumulative fair value adjustments previously taken to reserves is reclassified within equity.

w. Financial liabilities and equity instruments
Classification

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance
with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.
Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities. Equity instruments issued by the Company are recognised at the proceeds received.

Financial liabilities

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of
directly attributable transaction costs. They are subsequently measured at amortised cost. Any discount or premium on
redemption / settlement is recognised in the statement of profit and loss as finance cost over the life of the liability using the
effective interest method and adjusted to the liability figure disclosed in the balance sheet.

Financial liabilities are derecognised when the liability is extinguished, i.e., when the contractual obligation is discharged,
cancelled and on expiry.

Trade Payables and Other Financial Liabilities

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which
are unpaid. The amounts are unsecured and are usually paid within 60 days of recognition. Trade and other payables
are presented as current liabilities unless payment is not due within 12 months after the reporting period. Other financial
liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Other financial
liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value through
profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest rate method.
A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or expired.
De-recognition

The Company de-recognises financial liabilities when, and only when, the Company's obligations are discharged, cancelled
or they expire.

x. Earnings per share

Basic earnings per share are calculated by dividing the profit and loss for the year attributable to shareholders by the weighted
average number of shares outstanding during the year. For the purpose of calculating diluted earnings per share, the profit
and loss for the year attributable to shareholders and weighted average number of shares outstanding during the year is
adjusted for the effects of all dilutive potential shares

y. Goodwill

Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less
accumulated impairment losses, if any.

Goodwill is not amortised but is reviewed for impairment at least annually. For the purposes of impairment testing, goodwill
is allocated to each of the Company's cash-generating units (or groups of cash-generating units) that is expected to benefit
from the synergies of the combination. A cash-generating unit to which goodwill has been allocated is tested for impairment
annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the
cash-generating unit is less than it's carrying amount, the impairment loss is allocated first to reduce the carrying amount
of any goodwill allocated to the unit and then to the other assets of the unit pro-rata based on the carrying amount of each
asset in the unit. Any impairment loss for goodwill is recognised directly in the statement of profit or loss. An impairment
loss recognised for goodwill is not reversed in subsequent periods. On disposal of the relevant cash-generating unit, the
attributable amount of goodwill is included in the determination of the profit or loss on disposal.

2. CRITICAL ESTIMATES AND JUDGEMENTS

The preparation of standalone financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of
contingent liabilities at the date of the standalone financial statements and the results of operations during the reporting period
end. Although these estimates are based upon management's best knowledge of current events and actions, actual results could
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.

In particular, information about the significant areas of estimation, uncertainty and critical judgements in applying accounting
policies that have the most significant effect on the amounts recognised in the standalone financial statements are related to:

(i) Useful life of property, plant and equipment and intangible assets

(ii) Provision for product warranties

(iii) Provision for employee benefits

(iv) Provisions and contingent liabilities

(v) Impairment of investments

(vi) Leases

(vii) Impairment of goodwill

Useful life of property, plant and equipment and intangible assets - (refer note 1B(f), note 1B(h), note 3A and note 3B):

As described in the material accounting policies, the Company reviews the estimated useful lives of property, plant and equipment
and intangible assets at the end of each reporting period. The Company is required to determine whether its intangible assets have
indefinite or finite life which is a subject matter of judgement.

Provision for product warranties - (refer note 1B(q) and note 18):

Provision is estimated in respect of warranty cost in the year of sale of goods and it represents the present value of the management's
best estimate of the future outflow of economic benefit that will be required under the Company's obligation for warranties. It is
estimated by the management on the basis of a technical evaluation and based on specific warranties, claims and claim history.
The determination of provision for product warranties takes into account assumptions which is a subject matter of judgement. This
reassessment may result in change in depreciation and amortisation expense in future periods.

Provision for employee benefits (refer note 1B(n) and note 32):

The determination of Company's liability towards defined benefit obligation and other long-term employee benefits to employees
is made through independent actuarial valuation including determination of amounts to be recognised in the statement of
profit and loss and in other comprehensive income. Such valuation depends upon assumptions determined after taking into
account inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market.
Information about such valuation is provided in notes to accounts.

Provisions and contingent liabilities(refer note 1B(r) and note 36):

Legal proceedings covering some of the matters are pending against the Company. Due to the uncertainty inherent in such matters,
it is often difficult to predict the final outcome. Where an outflow of funds is believed to be probable and a reliable estimate of the
outcome of the dispute can be made based on management's assessment of specific circumstances of each dispute and relevant
external advice, management provides for its best estimate of the liability. Such accruals are by nature complex and can take
number of years to resolve and can involve estimation uncertainty.

Impairment of Investment (refer note 1B(l) and note 5):

The Company estimates the recoverable value of its investments based on future cash flows after considering current economic
trends, estimated future operating results and growth rates. The estimated cash flows are developed using internal forecasts with
key assumptions. The cash flow forecasts are discounted using a suitable discount rate in order to calculate the present value.

Lease liabilities and Right of use assets (refer note 1B(s) and note 34):

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116 "Leases". Identification of
a lease requires significant judgement in assessing the lease term including anticipated renewals and the applicable discount rate.
The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate
cannot be readily determined, the Company uses incremental borrowing rate.

Impairment of goodwill (refer note 1B(y) and note 40):

Determining whether goodwill is impaired requires an estimation of the value in use of the cash generating units to which goodwill
has been allocated. The value in use calculation requires the Company to estimate the future cash flows expected to arise from the
cash-generating unit and a suitable discount rate in order to calculate present value which is a subject matter of judgement.

Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in
the Company's residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of
an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company.
Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid.

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

(a) For sanction of term loan amounting to Rs. 16.00 crores by Federal Bank Ltd. (Balance as at 31 March 2026 is Rs. 5.77 crores
and balance as at 31 March 2025 is Rs. 7.86 crores), the following securities have been created:

Primary Security: Exclusive charge on the machineries purchased using the term loan. Collateral Security: Equitable mortgage
of all that pieces and parcels of factory lands with buildings/ structures/ sheds constructed thereupon along with fixed assets
(present and future) and located at Mouza: Bamunari, Pargana: Boro, P.D.: Dankuni, District: Hooghly, PIN-712250, West
Bengal.

The said loan is being paid in equal quarterly installments of Rs. 0.52 crores and with a final installment payment of Rs. 0.53
crores, the same would be discharged by October 2028. The interest rate is 7.25% p.a.

(b) For sanction of term loans amounting to Rs. 50.00 crores (including Capex Letter of Credit amounting to Rs. 15.00 crores
as its sub-limit) by ICICI Bank Ltd. (Balance as at 31 March 2026 is Rs. 7.00 crores and balance as at 31 March 2025 is Rs.
14.00 crores), following securities have been created:

— Exclusive charge over the movable properties including movable plant and machinery, machinery spares, tools and
accessories and other movables, both present and future, whether installed or not and whether now lying loose or in cases
or which are now lying or stored in or about or shall hereafter from time to time during the continuance of the security of
these presents be brought into or upon or be stored or be in or about all the Company's engineering stamping business's
factories, premises and godowns or wherever else the same may be or be held by any party to the order or disposition of the
Company or in the course of transit or in high seas or on order, or delivery, howsoever and wheresoever in the possession of
the Company and either by way of substitution or addition in such manner that the security cover of 1.25 times is maintained.
The said borrowings of Stamping Division is being repaid in 20 quarterly installments of Rs. 1.75 crores starting from 19 May
2022. The same would be discharged by February 2027. The rate of interest is sum of I-MCLR-6M and Spread per annum,
subject to a minimum of I-MCLR-6M.

a. Provision is estimated in respect of warranty cost in the year of sale of goods and it represents the present value of the
management's best estimate of the future outflow of economic benefit that will be required under the Company's obligation
for warranties. It also includes provision in respect of warranty and installation cost in the year of sale of goods by an
associate for which the Company has earned revenue for providing services. The revenue earned by the Company for the
same is included under 'Sale of services' in note 21

b. Provision for warranty is expected to be utilised over a period of 1 to 10 years.

c. The estimates may vary as a result of product quality, availability of spare parts, price of raw materials, altered manufacturing
processes and discount rates.

d. Warranty costs are estimated by the management on the basis of a technical evaluation and based on specific warranties,
claims and claim history.

32. (i) Defined benefit plan — Gratuity

The Company operates a defined benefit plan for gratuity for its employees.The Company provides for gratuity for its
employees in India who are in continuous service for a period of 5 years or more. It is administered through approved trust in
accordance with its trust deeds and rules. The concerned trust is managed by trustees who provide guidance with regard to
the management of their assets and liabilities and review their performance periodically. Risk mitigation systems are in place
to ensure that the health of the portfolio is regularly reviewed, investments do not pose any significant risk of impairment
and to ensure the adequacy of internal controls.

The Company accounts for the liability for the gratuity benefits payable in the future years based on year end actuarial
valuations.The actuary uses the projected unit credit method.

Risk management

The risks commonly affecting the gratuity liability are expected to be:

1. Interest rate risk - The defined benefit obligation calculated uses a discount rate based on government bonds. If bond
yield falls, the defined benefit obligations will tend to increase.

2. Salary inflation risk - The present value of the defined benefit obligation is calculated by reference to the salaries of plan
participants. Higher the expected increase in salary, higher the defined benefit obligation.

3. Demographic risk - This is the risk of variability of outcome due to unsystematic nature of decrements that include
mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation is not
straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important
not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically
costs less per year as compared to a long service employee.

NOTES :

— The Company is primarily engaged in business of home appliances, engineering (fine blanked components and stamping),
motor and steel. Accordingly the Company considers the above business segment as the primary segment. Segment revenue,
segment results, segment assets and segment liabilities include the respective amount identifiable to each of the segments as
also amounts allocated on reasonable basis. The expenses, which are not directly relatable to the business segment, are shown
as unallocable cost and grouped as "Unallocated". Assets and liabilities that cannot be allocated between the segments are
shown as unallocable assets and liabilities and are grouped as "Unallocated". These segments have been reported in the manner
consistent with the internal reporting to the chief operating decision makers (Board of Directors and Management).

— The geographical information considered for disclosure are revenue within India and revenue outside India.

— The Company is not reliant on revenues from transactions with any single external customer and does not receive 10% or
more of its revenues from transactions with any single external customer.

34 Leases:

A. Leases as a Lessee

The Company's lease assets primarily consists of lease for transit houses, office premises, warehouses, vehicles etc. having various
lease terms. The Company also has certain leases with a lease term of 12 months or less. The Company applies the "Short term lease"
recognistion exemption for these leases.

In applying Ind AS 116 - "Leases", the Company has applied a single discount rate to a portfolio of leases with reasonably similar
characteristics.

For guarantees refer note 37(C) and 37(E)

(a) These disputes mostly relate to disallowances of claims / tax credit of the Company under various laws. The management is
of the view, based upon the nature and status of the cases and legal opinion taken, wherever applicable, that these demands
are not sustainable in law and is confident that any liability on this account will not devolve on the Company.

(b) As per the E-Waste (Management) Rules, 2022, as amended, companies dealing in certain categories of products as specified
in Schedule-I therein are required to undertake Extended Producer Responsibility (EPR) for its end-of-life products. The
Central Pollution Control Board (CPCB) has notified the floor prices for exchange of EPR Certificates in an arbitrary manner,
which are substantially higher than the trading prices. Writ petitions have been filed before the Delhi High Court by several
producers in similar businesses challenging, inter alia, the aforesaid arbitrary floor prices. Further, based on management
assessment supported by legal opinion, the Company is of the view that it has a strong case on merit and accordingly, no
additional provision on this account is considered necessary. Such an assessment is primarily based on the fact that the floor
prices have been calculated by the authorities on an arbitrary and unilateral basis without consulting the manufacturers/all
the relevant stakeholders. Also, the realisation on account of the recycled materials have not been considered while fixing
the aforesaid floor prices and based on legal opinion obtained, the Company is of the view that the said fixation of the floor
prices is liable to be set aside.

The Company has met its obligations for the current year and previous year and there is no demand on the Company, from
either the authorities or from the recyclers regarding the same. The Company has an obligation to complete the EPR targets,
only if it is a participant in the market in a subsequent financial year, in accordance with the E-Waste (Management) Rules,
2022, as amended. Accordingly, the Company will have an e-waste obligation for future years, only if it participates in the
market in those years.

38. Dues to micro and small enterprises

The Ministry of micro, small and medium enterprises has issued an office memorandum dated 26 August 2008 which recommends
that the micro and small enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum
Number as allocated after filing of the Memorandum in accordance with the 'Micro, Small and Medium Enterprise Development
Act, 2006' ('MSMED Act, 2006'). Accordingly, the disclosure in respect of the amounts payable to such enterprises has been made
in the standalone financial statements based on the information received and available with the Company:

Disclosure required under Section 22 of the MSMED Act, 2006:

The Company's capital management policy is focused on business growth and creating value for shareholders. The Company
determines the amount of capital required on the basis of annual business plans and the funding needs are met through
internal accruals and bank borrowings.

The Company is debt free on a net basis, hence debt equity ratio is not applicable. Net debts includes interest bearing
borrowings less cash and cash equivalents and other bank balances (including current and non-current earmarked balances)
and current investments.

The Company has a system-based approach to risk management, anchored to policies and procedures and internal financial
controls aimed at ensuring early identification, evaluation and management of key financial risks (such as market risk,
credit risk and liquidity risk) that may arise as a consequence of its business operations as well as its investing and financing
activities. Accordingly, the Company's risk management framework has the objective of ensuring that such risks are managed
within acceptable and approved risk parameters in a disciplined and consistent manner and in compliance with applicable
regulation. It also seeks to drive accountability in this regard.

a) Liquidity risks

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquid risk
management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.

The Company has obtained fund and non-fund based working capital lines from banks. Furthermore, the Company
has sufficient quantities of finished goods and stock-in-trade which are liquid and readily saleable. Hence the risk that
the Company may not be able to settle its financial liabilities as they become due does not exist.

The following tables shows a maturity analysis of the anticipated cash flows for the Company's derivative and non¬
derivative financial liabilities.

b) Market risks

The Company does not trade in equities. Treasury activities, focused on managing investments in debt and equity
instruments, are decentralised but administered under a set of approved policies and procedures guided by the tenets
of liquidity, safety and returns. This ensures that investments are only made within the acceptable risk parameters after
due evaluation.

The Company's investments are predominantly held in debt mutual funds. Such investments are susceptible to market
risks that arise mainly from changes in interest rate which may impact the return and value of such investments. Mark
to market movements in respect of these investments are measured at fair value through profit or loss.

Fixed deposits are held with highly rated banks and generally have a short tenure and are not subject to interest rate
volatility.

The Company has long term loans from banks that are at highly competitive rates and hence interest rate fluctuations
on borrowings does not affect the Company significantly.

c) Foreign currency risk

The Company undertakes transactions denominated in foreign currency (mainly US Dollar, GBP, SGD, Euro, RMB,
JPY, KRW and AED) which are subject to the risk of exchange rate fluctuations.

d) Credit risk

Credit risk arise from the possibility that the counter party may not be able to settle their obligations. Financial
instruments that are subject to such risk primarily consists of investments, trade receivables, bank deposits, loans,
derivative instruments and other financial assets.

Bank deposits are primarily held with highly rated and different banks.

The Company's customer base is large and diverse limiting the risk arising out of credit concentration. Further the
credit is extended in business interest in accordance with guidelines issued centrally and business-specific credit
policies that are consistent with such guidelines. Exceptions are managed and approved by appropriate authorities
after due consideration of the counter parties credentials and financial capacity, trade practices and prevailing business
and economic conditions.

In respect of financial guarantee provided by the Company to banks/financial institutions, the maximum exposure
which the Company is exposed to is the maximum amount which the Company would have to pay if the guarantee is
called upon. Based on the expectation at the end of the reporting period, the Company considers that it is more likely
than not that such an amount will not be payable under the guarantees provided.

The Company's historical experience of collecting receivables and the level of default indicates that the credit risk
is low and generally uniform across markets. Loss allowances are recognised where considered appropriate by the
management.

e) 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. The Company's exposure to the risk of changes in market interest rates relates
primarily to the Company's debt obligations with floating interest rates. The risk estimates provided assume a parallel
shift of 50 basis points interest rate across all yield curves. 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 year end balances
are not necessarily representative of the average debt outstanding during the period.

For every 50 basis point interest rate change, holding all other variables constant, the profit before tax would change by
Rs. 0.06 crores for the year ended 31 March 2026 (31 March 2025: Rs. 0.49 crores).

f) Commodity-price risk

Exposure to market risk with respect to commodity prices primarily arises from the Company's purchase of imported
raw materials for production of finished goods. Cost of raw materials forms the largest portion of the Company's cost
of sales. Market forces generally determine prices for such raw materials purchased by the Company. These prices may
be influenced by factors such as supply and demand, production costs and global and regional economic conditions
and growth. Adverse changes in any of these factors may impact the results of the Company. Commodity price risk
exposure is evaluated and managed through operating procedures and sourcing policies.

Goodwill as stated above is carried at cost and annually tested for impairment in line with applicable Indian Accounting Standards.
The recoverable value of such goodwill has been assessed at value in use using cash flow forecasts based on current economic
trends, estimated future operating results and growth rates. The cash flow forecasts cover a period of five years and future
projections taking the analysis out to perpetuity. The Company has used certain assumptions including volume growth, earnings
before interest, tax and depreciation and certain key assumptions including post-tax discount rate of 18.18% (31 March 2025:
19.90%) and long-term growth rate of 3% (31 March 2025: 3%). The outcome of the impairment assessment as on 31 March 2026 for
recoverable value of goodwill has not resulted in any impairment. The management has conducted sensitivity analysis including
sensitivity in respect of discount rates, on the impairment assessment of the carrying value of goodwill. The Management believes
that no reasonably possible change in any of the key assumptions used in the model would cause the carrying value of goodwill
to materially exceed its recoverable value.

41. The Company has disaggregated revenues from contract with customers for the year by the type of goods and services. The
Company believes that this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash
flows are affected by industry, market and other economic factors. Refer notes 21 and 33 for revenue disaggregation.

Invoicing in excess of revenues from sale of services are classified as "Income received in advance on annual maintenance contracts
and extended warranty services" and advance received in excess of revenues from sale of goods are classified as "Advance from
customers" in note 17.

The following table includes revenue expected to be recognised in the future related to annual maintenance contracts and extended
warranty services and advance from customers.

As on 31 March 2025, trade payables includes Rs. 7.70 crores for liabilities under supplier financing arrangement (SFA). The
weighted average of which have extended the settlement of such original payable to 60 days after physical supply and were due
for settlement within 26 days after the year end. The payment due dates for comparable trade payables that are not part of such
arrangements are upto 60 days.

All the suppliers have received the payment from the finance provider.

There are no non-cash changes in the carrying amounts of such financial liabilities under supplier financing arrangement.

There is an access risk that the finance provider may suddenly withdraw or cancel the facility, however the Company will not face
an immediate liquidity crisis as the Company has sufficient cash and cash equivalents and current investments.

The Company had entered into supplier financing arrangement to ensure easy access of credit to its supplier. The arrangement
was mostly operating in nature as the financing element in the transaction was insignificant and the time frame in the financing
arrangement was mostly consistent with the supplier terms available to the Company. The amount payable w.r.t. such supplier
financing was classified as trade payables.

44. 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.

45 The Company have not been declared willful defaulter by any bank or financial institution or other lender.

46 Balance outstanding with nature of transaction with struck off companies as per Section 248 of the Companies Act, 2013

47. The Company has complied with the number of layers prescribed under the Companies Act, 2013, read with the Companies
(Restriction on number of layers) Rules, 2017.

48 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.

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

50 (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, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(b) No funds have been received by the Company from any person(s) or entity(ies), including foreign entities ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

51 The Company is not a Core Investment Company ("CIC") as defined in the regulations made by the Reserve Bank of India.
Further, there are no CICs in the Group (as defined in the Reserve Bank of India (Core Investments Companies) Directions, 2025
of which the Company is a part.

52 The Company has filed quarterly returns or statements with the banks for its sanctioned working capital facilities, which are in
agreement with the books of accounts for year ended 31 March 2026. For the year ended 31 March, 2025, the Company has filed
quarterly returns or statements with the banks for its sanctioned working capital facilities, which are in agreement with the books
of accounts other than those as set out below:

53. Audit Trail:

The Ministry of Corporate Affairs (MCA) has made it mandatory for every company, which uses accounting software for
maintaining its books of account, to use only such accounting software which has a feature of recording audit trail of each and
every transaction, creating an edit log of each change made in books of account along with the date when such changes were made
and ensuring that the audit trail cannot be disabled.

The Company uses SAP software to maintain its books of account. At application level, audit trail has been enabled by the Company
for all the relevant financial tables. Company has also enabled audit trail at database level from 18 May 2025 for all the relevant
financial tables and prior to that the Company has designed and implemented adequate review process over direct change at
database level.

54 On November 21, 2025, the Government of India notified the four Labour Codes - the 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 - consolidating 29 existing labour laws. The Ministry of Labour and Employment published Central Rules on May 8, 2026
and FAQs to enable assessment of the financial impact due to changes in regulations. The incremental impact of these changes
on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of
India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, such incremental impact has been
presented as Exceptional Item in these standalone financial statements. Accordingly, an incremental liability of Rs. 13.96 crores
has been recognised as an "Exceptional Item" during the year ended 31 March 2026. The Central Rules in conjunction with draft
State Rules and clarifications from the Government on other aspects of the Labour Codes are being monitored and appropriate
accounting effect, if any, will be provided on the basis of such developments.

55 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.

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