2.19 Provisions and contingencies
A provision is recognised when the Company has a present obligation as a result of past events and it
is probable that an outflow of resources will be required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their
present value and are determined based on the best estimate required to settle the obligation at the
Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current
best estimates. Contingent liabilities are disclosed in the Notes.
2.20 Insurance claims
Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the
extent that there is no uncertainty in receiving the claims.
For G Ramesh Kumar & Co. Vidyashankar Krishnan K. Venkatramanan
Chartered Accountants Chairman and Managing Director Joint Managing Director
FRN 003010S (DIN:00081441) (DIN:00823317)
G. Ramesh Kumar Shankar Athreya Sumita Vidyashankar
Partner Director Director
Membership no. 018663 (DIN: 10153304) (DIN: 00059062)
Place: Chennai R. Venkatakrishnan Chandrasekar S
Date: 24 May 2025 Chief Financial Officer Company Secretary
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