The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflations, seniority, promotion and
other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The expected rate of return on plan assets is determined considering several applicable factors, mainly the composition of Plan assets
held, assessed risks, historical results of return on plan assets and the Company's policy for plan assets management.

Sensitivity Analysis

Significant Actuarial Assumptions for the determination of the defined benefit obligation are discount trade, expected salary increase
and employment turnover. The sensitivity analysis below, have been determined based on reasonably possible changes of the
assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The result of sensitivity
analysis is given below:

39 CAPITAL MANAGEMENT

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles;

a) Maintain financial strength to attain AAA ratings domestically and investment grade ratings internationally.

b) Ensure financial flexibility and diversify sources of financing and their maturities to minimize liquidity risk while meeting investment
requirements.

c) Proactively manage group exposure in forex, interest and commodities to mitigate risk to earnings.

d) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance sheet.
This framework is adjusted based on underlying macro-economic factors affecting business environment, financial market conditions

40 FINANCIAL INSTRUMENTS

All financial instruments are initially recognized and subsequently re-measured at fair value as described below:
Fair Value measurement hierarchy:

Foreign Currency Risk:

No Exposure to foreign currency

Commodity Price Risk

Commodity price risk arises due to fluctuation in prices of raw material. The company has a risk management framework aimed at
prudently managing the risk arising from the volatility in raw material prices and freight costs.

The company's commodity risk is managed centrally through well-established trading operations and control processes. In accordance
with the risk management policy, the Company carefully caliberates the timing and the quantity of purchase

Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due causing
financial loss to the company. Credit risk arises mainly from the outstanding receivables from customers.

The company has a prudent and conservative process for managing its credit risk arising in the course of its business activities. The
credit ratings/market standing of the customers are evaluated on a regular basis.

41 EVENTS AFTER THE REPORTING PERIOD
No events after the reporting period

42 APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved for issue by the board of directors on 26.05.2026

43 OTHERS NOTES

(A) Electricity Duty exemption:

In the Financial year 2012-13 the company had applied for exemption of electricity duty in respect of electricity consumed in its SMS
Plant. The company had been advised that under the Internal Policy of State of Chhattisgarh, it is entitled to get electricity duty
exemption of an amount aggregating Rs.1105.69 lacs. This amount pertains to accounting year 2011-12, 2012-13, 2013-14, 2014-15, 2015¬
16, 2016-17, 2017-18 and 2018-19. The management is of the opinion that the same amount would be realized in the near future.

(B) Parties' accounts are subject to confirmation. Consequential effects adjustment, presently unascertainable, will be provided as and
when confirmed.

(C) Trade Receivables, Loans & Advances and Deposits include certain over due accounts. Balances in the accounts of certain debtors,
loans and advances required to be confirmed / reconciled. However, in the opinion of the Board, all current assets, loans and advances
would be realized in ordinary course of the business at the value as stated.

(D) In the opinion of the Board, the provision for depreciation and all known liabilities is adequate and not in excess of the amount
reasonably necessary.

(E) The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis of information available with the Company. There are no over
dues to parties on account of principal amount and / or interest and accordingly no additional disclosures have been made

(F) Figures of the previous year have been reworked, rearranged/regrouped and reclassified wherever considered necessary.
Accordingly, the amount and other disclosures for preceding year are included as an integral part of current year's financial statement
and are to be read in relation to the amount and other disclosures relating to current year. The figures in financial statements are
rounded off to the nearest lacs rupees.

(G) Separate segment wise reporting is not called for in view of the fact that mostly the revenue of the Company is from structural
manufacturing and all business activities are in India only. The operations of Gas Plant of company are mainly for captive use and the
surplus have been sold to external parties amount of Rs. 228.78 lakhs; the same is not fulfilling the criteria of (Ind-AS 108 (Segment
Reporting)) separate reportable segment.

(H) The management has reviewed the impairment position of the assets disclosed in the financial statement for the year; and there is
no indication of impairment (Assets carry cost is less than the recoverable value) loss for the year.