i. Rights, preferences and restrictions attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs.10 Each holder of equity shares is entitled to one vote per share

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts The distribution will be in proportion to the number of equity shares held by the shareholders During the current year and previous year the company has not declared any dividend

Nature and purpose of the Reserve- This reserve represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through other comprehensive income, net of amounts reclassified to retained earnings when those assets have been disposed of.

Capital Management : The Company’s capital management is intended to maximise the return to shareholders for meeting the long-term and short-term goals of the Company through the optimal use of equity The Company determines the amount of capital required on the basis of annual and long-term operating plans and strategic investment plans Tire funding requirements are met through equity. The Company does not have any borrowing.

18 Financial risk management

The Company has adequate internal processes to assess, monitor and manage financial risks These risks include credit risk, liquidity risk and market risk (including currency risk, interest rate risk and other price risk). The Company seeks to minimise the effects of these risks through appropriate risk management policies as detailed below. The Company does not enter into trade financial instruments, including derivative financial instruments, for speculative purposes.

The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below:

(i) Credit risk Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company The Company is exposed to credit risk from its financing activities, including deposits with banks. The credit risk on cash and bank balances is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies

(iii) Market Risk

The Company’s financial instruments are exposed to market rate changes The Company is exposed to the following market risk:

Price Risk- Market risk exposures are measured using sensitivity analysis There has been no change to the Company's exposure to market risks or the manner in which these risks are being managed and measured The Company is exposed to equity price risks arising from equity investments. The Company's equity investments are held for strategic rather than trading purposes

22 There are no other significant subsequent events that have occurred after the reporting period till the date of this financial statements.

23 Previous year figures, wherever required, have been regrouped based on current year's classification.