o) Provisions, contingent liabilities and contingent assets:

Provisions for legal claims, volume discounts and returns are recognised when the
Company has a present legal or constructive obligation as a result of past events, it is
probable that an outflow of resources will be required to settle the obligation and the
amount can be reliably estimated. Provisions are not recognised for future operating
losses.

Where there are a number of similar obligations, the likelihood that an outflow will
be required in settlement is determined by considering the class of obligations as a
whole. A provision is recognized even if the likelihood of an outflow with respect to
any one item included in the same class of obligations may be small.

Provisions are measured at the present value of management's best estimate of the

expenditure required to settle the present obligation at the end of the reporting
period. The discount rate used to determine the present value is a pre-tax rate that
reflects current market assessments of the time value of money and the risks specific
to the liability. The increase in the provisions due to the passage of time is recognized
as interest expense.

p) Cash flow statement:

Cash flows are reported using the indirect method, whereby profit before tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or
accruals of past or future cash receipts or payments. The cash flows from operating,
investing and financing activities of the Company are segregated based on the
available information.

q) Critical accounting estimates and judgements:

The presentation of financial statements under Ind AS requires management to take
decisions and make estimates and assumptions that may impact the value of
revenues, costs, assets and liabilities and the related disclosures concerning the items
involved as well as contingent assets and liabilities at the balance sheet date.
Estimates and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future events that are believed
to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting
accounting estimates will, by definition, seldom equal the related actual results. The
areas involving critical estimates or judgements are:

a. Estimation of defined benefit obligation

b. Useful life of Property Plant and Equipment

c. Expected credit loss of financial assets

d. Income Taxes

r) Related Party Transactions:

The Company furnishes the Disclosure of transactions with related parties, as
required by Ind AS 24 "Related Party Disclosures" as prescribed by Companies

(Indian Accounting Standard) Rules 2015. Related parties as defined under Ind AS 24
have been identified on the basis of representation made by the management and
information available with the company.

SIGNATURE TO NOTES 1 To 33

As Per our Report of Even Date For and on Behalf of The Board

For JMT & Associates, Cubex Tubings Limited

Chartered Accountants,

FRN: 104167W

Sd/- Sd/- Sd/-

Vijaya Pratap M Virendra Bhandari Akshay Bhandari

Partner Managing Director Executive Director

Membership Number: 213766 DIN: 00062228 DIN: 09783327

UDIN: 25213766BMIXVG8377

Place: Hyderabad Sd/- Sd/-

Date: 15-05-2025 Siva Prasad Sarva Chandini K Moolchandani

Chief Financial Officer Company Secretary

M No: A47869