1.19 PROVISIONS AND CONTINGENT LIABILITIES

Provisions are recognised when the Company has a present
obligation (legal or constructive) as a result of a past event,

it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation
and a reliable estimate can be made of the amount of
the obligation. When the Company expects some or all
of a provision to be reimbursed, for example, under an
insurance contract, the reimbursement is recognised as a
separate asset, but only when the reimbursement is virtually
certain. The expense relating to a provision is presented in
the Statement of Profit and Loss net of any reimbursement.
Provisions are not recognised for future operating losses.

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 provision due to the passage of time is
recognised as interest expense.

As a policy, the company is regularly accessing the liability
arising due to delay in fulfillment of the obligation against
advance licenses taken for duty free import of the goods /
various investment related schemes and required provisions
are carried out in the books.

Contingent Liability is disclosed in the case of:

> A present obligation arising from the past events,
when it is not probable that an outflow of resources
will be required to settle the obligation;

> A present obligation arising from the past events,
when no reliable estimate is possible;

> A possible obligation arising from the past events,
unless the probability of outflow of resources is
remote.

Contingent liabilities are not provided for and if material, are
disclosed by way of notes to accounts. Contingent assets are
not recognized in financial statements. However, the same is
disclosed, where an inflow of economic benefit is probable.

1.20 LEASES

The Company assesses whether a contract contains a lease,
at 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 define period of time in exchange for
consideration. To assess whether a contract conveys the
right to control the use of an identified assets, the Company
assesses whether: (i) the contact involves the use of an
identified asset (ii) the Company has substantially all of the
economic benefits from use of the asset through the period
of the lease and (iii) the Company has the right to direct the
use of the asset.

As a lessee, the Company recognises a right of use asset and
a lease liability at the lease commencement date. 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 to the
earlier of the end of the useful life of the right of use asset or
the end of the lease term. The estimated useful lives of right
of use assets are determined on the same basis as those of
property and equipment. In addition, the right of use asset
is periodically reduced by impairment losses, if any, and
adjusted for certain re-measurements of the lease liability.

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 interest rate implicit in the lease
or, if that rate cannot be readily determined, the Company's
incremental borrowing rate. For leases with reasonably
similar characteristics, the Company, on a lease by lease
basis, may adopt either the incremental borrowing rate
specific to the lease or the incremental borrowing rate for
the portfolio as a whole.

Lease payments included in the measurement of the lease
liability comprise the fixed payments, including in-substance
fixed payments and lease payments in an optional renewal
period if the Company is reasonably certain to exercise
an extension option; The lease liability is measured at
amortised cost using the effective interest method.

The Company has elected not to recognise right of use assets
and lease liabilities for short-term leases that have a lease
term of 12 months or less and leases of low-value assets.
The Company recognises the lease payments associated
with these leases as an expense on a straight-line basis over
the lease term. The Company applied a single discount rate
to a portfolio of leases of similar assets in similar economic
environment with a similar end date.

1.21 GOVERNMENT GRANTS

Government grants are recognised when there is reasonable
assurance that the grant will be received and all attached
conditions complied in. When the grant relates to an
expense item, it Is recognised as Income on a systematic
basis over the years that the related costs, for which it is
intended to compensate, are expensed. When the grant
relates to an asset, it is recognised as an income in equal
amounts over the expected useful life of the related asset.

1.22 SEGMENT REPORTING

An operating segment is a component of the Company
that engages in business activities from which it may
earn revenues and incur expenses, whose operating
results are regularly reviewed by the company's Chief
Operating Decision Maker ("CODM") to make decisions
for which discrete financial information is available. Based
on the management approach as defined in Ind AS 108 -
Operating Segments, the CODM evaluates the Company's
performance and allocates resources based on an analysis
of various performance indicators by business segments
and geographic segments.

1.23 EARNING PER SHARE

Basic Earnings Per Share

Basic earnings per share is calculated by dividing the
net profit or loss for the year attributable to equity
shareholders by the weighted average number of equity
shares outstanding during the year. Earnings considered
in ascertaining the Company's earnings per share is the
net profit or loss for the year after deducting preference
dividends and any attributable tax thereto for the year. The
weighted average number of equity shares outstanding
during the year and for all the years presented is adjusted
for events, such as bonus shares, other than the conversion
of potential equity shares, that have changed the number of
equity shares outstanding, without a corresponding change
in resources.

Diluted Earnings Per Share

For the purpose of calculating diluted earnings per share,
the net profit or loss for the year attributable to equity
shareholders and the weighted average number of shares
outstanding during the year is adjusted for the effects of all
dilutive potential equity shares.

1.24 DIVIDEND DISTRIBUTIONS

The Company recognizes a liability to make the payment
of dividend to owners of equity, when the distribution
is authorised and the distribution is no longer at the
discretion of the Company. As per the corporate laws in
India, a distribution is authorised when it is approved by
the shareholders. A corresponding amount is recognised
directly in equity.

1.25 CASH AND CASH EQUIVALENTS

Cash and Cash Equivalents comprise cash and deposits with
banks. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three
months or less and that are readily convertible to known
amounts of cash to be 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 and 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 insignificant
risk of changes in value.

1.26 STATEMENT OF CASH FLOWS

Cash Flows are reported using the indirect method, whereby
profit before tax is adjusted for the effects of transactions of
a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or
expenses associated with investing or financing Cash Flows.
The cash flows from operating, investing and financing
activities of the Company are segregated.

1.27 EVENTS OCCURING AFTER THE REPORTING DATE

Adjusting events occurring after the balance sheet date
are recognized in the financial statements. Material non
adjusting events occurring after the balance sheet date that
represents material change and commitment affecting the
financial position are disclosed in the Director's Report and
Notes to Accounts.

1.28 EXCEPTIONS ITEMS

Certain occasions, the size, type or incidence of an item of
income or expense, pertaining to the ordinary activities
of the Company is such that disclosure improves the
understanding of the performance of the Company, such
income or expense is classified as an exceptional item and
accordingly, disclosed in the notes accompanying to the
financial statements.

Nature and Purpose of Reserves

Securities Premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes such
as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013

General Reserve

General reserve is created by the Company by appropriating the balance of Retained Earnings. It is a free reserve which can be
used for meeting the future contingencies, creating working capital for business operations, strengthing the financial position of
the Company etc.

Capital Redemption Reserve

Capital Redemption Reserve was created to transfer redemption reserve of Redeemable Preference Shares. This is not free reserve
and cannot be utilised for any purpose.

Retained Earings

Retained Earings are the profits that the company has earned till date less any transfers to redemption reserve, dividend or other
distributions paid to shareholders.

40 FINANCIAL INSTRUMENTS
A Capital Management

Capital includes equity attributable to the equity holders to ensure that it maintains an efficient capital structure and healthy
capital ratios in order to support its business and maximise shareholder value. The Company manages its capital structure
and makes adjustments to it, in light of changes in economic conditions or its business requirements.

To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital
to shareholders or issue new shares.

The Company monitors capital using a ratio of 'Adjusted Net Debt' to 'Adjusted Equity' For this purpose, adjusted net debt
is defined as total Liabilities, comprising Interest-bearing Loans and Borrowings and obligations under Finance Leases, less
Cash and Cash Equivalents. Adjusted Equity Comprises all components of Equity.

(ii) Measurement of Fair values and Sensitivity analysis
Fair Value Hierarchy

The fair value of the Financial Assets and Liabilities is included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Company
uses the following hierarchy for determining and/or disclosing the fair value of Financial Instruments by valuation
techniques:

Financial assets and financial liabilities measured at fair value in the Balance Sheet are grouped into three levels of a
fair value hierarchy. The three levels are defined based on the observability of significant inputs to the measurement,
as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the Assets or Liabilities, either
directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3: Inputs for the Assets or Liabilities that are not based on observable market data (unobservable inputs)

The cost of unquoted investments included in Level 3 fair value hierarchy approximate their fair value because there is
a wide range of possible fair value measurements and the cost represents estimate of fair value within that range

(b) Financial Instrument measured at Amortised Cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial
statements are a reasonable approximation of their fair values since the Company does not anticipate that the
carrying amounts would be significantly different from the values that would eventually be received or settled.

1 FINANCIAL RISK MANAGEMENT, OBJECTIVE AND POLICIES

The Company's Board of Directors have overall responsibility for the establishment and oversight of the Company's risk
management framework. The Company manages market risk through treasury operations, which evaluates and exercises
independent control over the entire process of market risk management. The finance team recommends risk management
objectives and policies. The activities of this operations include management of cash resources, hedging of foreign currency
exposure, credit control and ensuring compliance with market risk limits and policies.The Company's Management reviews the
adequacy of the risk management framework in relation to the risks faced by the Company.

The Company has exposure to the following risks arising from financial instruments:

(a) Credit Risk

(b) Market Risk and

(c) Liquidity Risk

(a) Credit Risk:

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to the
Company. The Company is exposed to credit risk arising from its operating activities primarily from trade receivables, from
financing activities primarily relating to parking of surplus funds as Deposits with Banks, investments, loans, and security
deposits.

The carrying amounts of financial assets represent the maximum credit risk exposure. Credit risk assessment on various
components is described below:

(i) Trade receivables

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer operates,
also has an influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit
limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in
the normal course of business. The Company has adopted a policy of only dealing with creditworthy counterparties
and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults.

The Company has established a credit policy under which each new customer is analysed individually for
creditworthiness before the standard payment and delivery terms and conditions are offered. The Company's review
includes external ratings, if they are available, financial statements, credit agency information, industry information
and in some cases bank references. Sale limits are established for each customer and reviewed periodically.

The Company measures the expected credit loss of trade receivables from customers based on historical trend,
industry practices and the business environment in which the entity operates. Loss rates are based on actual credit
loss experience and past trends. Based on the historical data, as per management perceptions, the provision for loss
on collection is made on trade receivables based on Expected Credit Loss Model (ECL) as below:

(ii) Cash and cash equivalents and bank deposits

Credit risk from balances with Banks and Financial Institutions is managed by the Company's treasury department.
Investments of surplus funds are made only with approved counter parties and within credit limits assigned to each
counterparty. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through
counterparty's potential failure to make payments.

(iii) Security Deposits and Loans

This consists of loans given to Employees and Security Deposits given to utility providers like Electricity companies and
others. These carries limited credit risk based on the financial position of parties and Company's historical experience
of dealing with these parties.

(b) Market Risk:

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in
market rates and prices (such as interest rates and foreign currency exchange rates) or in the price of market risk-sensitive
instruments as a result of such adverse changes in market rates and prices. Market risk is attributable to all market risk-
sensitive financial instruments, all foreign currency receivables and payables and all short-term and long-term debt. The
Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk.

(i) Foreign currency risk

The Company operates internationally and is exposed to foreign exchange risk arising from foreign currency
transactions, primarily with respect to the USD and SGD. The Company has in place the Risk management policy to
manage the foreign exchange exposure

The Foreign currency exchange rate exposure is partly balanced through natural hedge. This provide an economic
hedge without derivatives being entered into and therefore hedge accounting not applied in these circumstances.

In respect of other monetary assets and liabilities denominated in foreign currencies, the Company's policy is to ensure
that its net exposure is kept to an acceptable level by buying or selling foreign currencies at spot rates when necessary
to address short-term imbalances.

The company can enter into foreign currency forward contracts and other authorized derivative contracts, which
are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting
currency required or available at the settlement date of certain payables/receivables and borrowings.

(ii) 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 manages its interest rate risk by having a balanced portfolio of fixed
and variable rate loans and borrowings.

The Company's risk management activities are subject to the management, direction and control of Risk Management
Policy for interest rate risk through appropriate policies and procedures identified, measured and managed.

The Company's fixed rate borrowing are carried at amortised cost. They are therefore not subject to interest rate risk as
defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change
in market interest rate.

For the Company's floating rate borrowing, the analysis is prepared assuming a 100 basis point increase or decrease is
used, which represents management's assessment of the reasonably possible change in interest rate.

(c) Liquidity Risk:

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to
ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and
stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

Exposure to Liquidity Risk

The Company manages liquidity risk by maintaining adequate reserves, by continuously monitoring forecast and actual cash
flows and matching the maturity profiles of the financial assets and liabilities. The table below summarises the remaining
contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include
estimated interest payments and exclude the impact of netting agreements.

(b) Defined Benefits Plans

The Company provides for retirement benefits in the form of Gratuity. The Company's gratuity scheme (unfunded) provides
for lump sum payment to vested employees at retirement, death while in employment or on termination of employment of
an amount equivalent to 15 days salary payable for each completed year of service subject to a ceiling of ' 20 Lakhs. Vesting
occurs upon completion of 05 years of service.

Sensitivities have been calculated to show the movement in Defined Benefit Obligation in isolation and assuming
there are no other changes in market conditions at the accounting date. In presenting the above sensitivity analysis,
the present value of the defined benefit obligations has been calculated using the Projected Unit Credit Method at
the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability
recognised in the balance sheet. This analysis may not be representative of the actual change in the defined benefit
obligation as it is unlikely that the change in the assumptions would occur in isolation of one another as some of the
assumptions may be correlated.

(vii) The weighted average duration of the benefit obligation as at March 31,2025 is 12 years (as at March 31, 2024 is 13
years).

(c) Compensated absence:-

Expenses recognised in the Statement of Profit and Loss amounts to ' 82.32 Lakhs for the year ended March 31,2025 (March
31,2024 was ' 110.32 lakhs).

The current and non-current classification of obligations under defined benefit plans and other long-term benefits is done
bases on the actuarial valuation reports.

45 OPERATING SEGMENT

The Company determines Operating Segments as components of an entity for which discrete financial information is available
that is evaluated regularly by chief operating decision maker (CODM), in deciding how to allocate resources and assessing
performance. a) The Company operates mainly in manufacturing of Dyes, Dyes Intermediates and Basic Chemicals. All other
activities are incidental thereto and integrated, which have similar risk and return.

Considering the nature of Company's business, as well as based on reviews by CODM to make decisions about resource allocation
and performance measurement, accordingly, there are no separate reportable Segment as far as primary Segment is concerned
in accordance with the requirements of Ind AS - 108 - ''Operating Segments'', prescribed under Companies (Indian Accounting
Standards) Rules, 2015.

(a) Bank guarantees include ' 43.00 Lakhs issued to GPCB.

(b) Refer Note no. 51.

(c) Disputed tax liabilities are pending at various forums details of which are mentioned in CARO report.

(b) Capital commitments and other commitments

Estimated amount of contracts pending execution on capital accounts and not provided for (net of advances) is ' 1,305.11
Lakhs (PY ' 1,300.13 Lakhs).

The Company has given capital advances to various equipment suppliers and other parties towards purchase of capital
goods to be used as Plant & Machinery. The amount includes balances outstanding for long against which capital goods
have not been procured by the company. Third party confirmations, reconciliations and other supportive audit evidences
are being requested from vendors to determine outstanding capital advance and its recoverability.

i) Refer Note no. 51.

ii) M/s Kiri Industries Ltd. has given a corporate guarantee of ' NIL (PY 100 Cr) to Vistra ITLC (India) Ltd. (the debenture trustee)
for the purpose of subscirbing the Non-Convertible Secured Debentures of Saptak Buildcon Private Limited by UTI MOF &
UTI SDOF. UTI MOF & SDOF had subscribed for ' 72 Cr NCD of Saptak Buildcon Pvt. Ltd. according to agreement between
the parties in PY.

49 CODE ON SOCIAL SECURITY, 2020 ('CODE')

The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits
has received Presidential Assent on 28th September, 2020. The Code has been published in the Gazette of Inda. However, the
effective date of the Code is yet to be notified and final rules for quantifying the financial impact are also yet to be issued. In view
of this, the Group will assess the impact of the Code when relevant provisions will be notified and will record related impact, if
any, in the period the Code becomes effective.

50 The company has few foreign currency balances (both receivables and payables) which have been outstanding for a period
which is beyond the prescribed period for settlement as per the guidelines of Reserve Bank of India (RBI) and FEMA. As per
management, the company will take necessary steps in coordination with its bankers to regularise such receivables and payables.

51 During the year, Facility Agreement entered by Kiri Industries Limited ("the Company") with Claronex Holdings Pte. Ltd., a wholly
owned overseas subsidiary of the Company ("Borrower"/"Claronex"), Mr. Manishkumar P Kiri ("Promoter"), Meritz Securities Co.
Ltd. and TCM Asia Private Credit Fund VCC (collectively, "Lenders") and BNP Paribas (acting through its Singapore branch) (as the
"Agent" and "Security Agent (Singapore)") and Catalyst Trusteeship Limited (as the "Security Agent (India)"), in relation to the
credit facilities of USD130 Million availed by the Borrower.

The Company entered into following agreements for securing credit facility provided to Borrower:

• Corporate guarantee dated September 4, 2024 was executed by the Company in favour of the Security Agent (India) for
guarantee amount of USD 169 million till March 31, 2025 and USD178.10 million thereafter till date of repayment of the
Facility;

• Non-disposal undertaking dated September 4, 2024 was executed between the Company, Indo Asia Copper Limited, a step-
down subsidiary of the Company ("IACL") and Security Agent (India) for non-disposal of shareholdings of the Company in
IACL;

• Security agreement dated September 4, 2024 was entered into by the Company with the Security Agent (Singapore) in
relation to present and future shares of Dystar Global Holdings (Singapore) Pte. Ltd. ("Dystar") held by the Company and
other rights in relation to such shares and First fixed charge over all present and future shares of the Borrower owned by the
Company, together with all related rights thereto in favour of the Security Agent (Singapore);

• A deed of hypothecation dated September 4, 2024 was entered into by the Company in favour of the Security Agent
(India) together with a power of attorney in relation to the hypothecated assets such as (1) First ranking charge by way of
hypothecation over the escrow account in India, in favour of the Security Agent (India);

The aforesaid credit facility has been secured by following security:

• First fixed charge over the selected assets owned by the Company by the way of assignments and securities in favour of the
Security Agent (Singapore);

• First fixed charge over all present and future shares of the Borrower owned by the Company, together with all related rights
thereto in favour of the Security Agent (Singapore);

• First ranking charge by way of hypothecation over the escrow accounts in India for the purpose of the Facility Agreement
and other documents in relation thereto (and all amounts lying to the credit of such escrow account including any fixed

deposits etc.) held by the Company, together with a power of attorney in relation to the hypothecated assets, in favour of
the Security Agent (India);

• Security by way of assignment by the Borrower of all its rights under any definitive agreements pertaining to subscription
or transfer of IACL shares to be held by it and any disposal proceeds of the Borrower over the shares of IACL in favour of the
Security Agent (Singapore);

• First fixed charge over the escrow account of the Borrower in Singapore and any other accounts of the Borrower held with
any bank or financial institution in favour of the Security Agent (Singapore);

• First fixed charge over all permitted financial investments of the Borrower, as set out in the Facility Agreement, in favour of
the Security Agent (Singapore);

• First floating charge by the Borrower over all its assets (excluding the shares of IACL) in favour of the Security Agent
(Singapore);

• Non-disposal undertaking by the Company over all the shares held/to be held by it in IACL;

• Non-disposal undertaking by the Borrower over all the shares to be held by it in IACL;

• Unconditional and irrevocable corporate guarantee by the Company;

• Unconditional and irrevocable personal guarantee by Mr. Manish Kiri, promoter of the Company;

Further, Claronex Holdings Pte. Ltd. has acquired 96.83% of shareholding of Indo Asia Copper Limited (The then Subsidiary of
the company) in two tranches vide share subscription agreement dated September 04, 2024. Accordingly, 4,58,56,190 number
of shares were issued by Indo Asia Copper Limited to Claronex Holdings Pte. Ltd. at the rate of ' 226/- per share in the month
of September, 2024 making Indo Asia Copper Limited a subsidiary of Claronex Holdings Pte. Ltd. and consequently step down
subsidiary of the company.

52 The company, Kiri Industries Limited ("Issuer") has realized 50.9485% upfront money amounting to ' 250,67,52,332/- on October
15, 2024 against the 13333789 entire warrants allotted for which pre-preferential approval was sought, made on October 15, 2024.
Further, the Issuer has also realized the balance 49.0515% allotment monies amounting to ' 68,68,49,931/- from the respective
allottee(s) on November 12, 2024 against allotment of 3794751 equity shares made on November 13, 2024 on conversion of
3794751 warrants from the applicants of the aforesaid shares.

53 OTHER ADDITIONAL STATUTORY INFORMATION

i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property.

ii) The Company do not have any transactions with companies struck off.

iii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

iv) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
Intermediaries with the understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

v) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

vi) The Company have no such transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any
other relevant provisions of the Income Tax Act, 1961).

vii) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.

viii) As the company has not taken availed any WCL, overdraft, etc from any banks or financial institutions, therefore, quarterly
returns or statements of receivables, inventories and creditors for goods with banks or financial institutions are not required
to be filed by the company.

54 EVENTS AFTER THE REPORTING PERIOD

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approved
Standalone Financial Statements to determine the necessity for recognition and/or reporting of any of these events and
transactions in the Standalone Financial Statements as of May 30, 2025 there is no significant events occurred, except disclosed.

In recent development with respect to ongoing legal proceedings concerning disputes between Kiri Industries Limited ("the
Company") and DyStar Global Holdings (Singapore) Pte. Ltd. ("DyStar") and Senda International Capital Ltd. ("Senda"), in the
process of en bloc sale of DyStar, Zhejiang Longsheng Group Co. Ltd ("Purchaser") has entered into a Share Purchase Agreement
("SPA") on May 29, 2025 with Mr. Matthew Stuart Becker, Mr. Lim Loo Khoon, and Mr. Tan Wei Cheong of Deloitte & Touche LLP,
acting as court-appointed joint and several receivers ("Receivers"), and Kiri Industries Limited ("the Company") whose signatory
to SPA are also court-appointed joint and several receivers.

Under the terms of the agreement, the Purchaser has agreed to acquire 2,623,354 equity shares, representing 37.57% of the
paid-up share capital of DyStar Global Holdings (Singapore) Pte. Ltd. ("DyStar") held by the Company, for a base consideration
of USD 676,260,000. An additional consideration of USD 20,287,800 is payable by the Purchaser to address any shortfall in the
base consideration or to fulfil the Purchaser's obligations under the SPA. The total consideration for the transaction may also be
further adjusted pursuant to the terms of the SPA. The long-stop date for the fulfilment or waiver of the last of the conditions in
the SPA is scheduled for October 2, 2025, and may be extended, if required, up to November 3, 2025 (or such other date as the
Receivers and Purchaser may agree in writing). This transaction is subject to customary closing conditions and, where applicable,
regulatory approvals and hence dependent on purchaser's ability to fulfill the conditions required for execution of SPA.

55 NEW AND AMENDMENTS STANDARDS

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2025, MCA has notified Ind AS - 117
Insurance Contracts and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions, applicable to the
Company w.e.f. April 1,2024. The Company has reviewed the new pronouncements and based on its evaluation has determined
that it does not have any significant impact in its Standalone Financial Statements.

56 The previous year figures are regrouped or reclassified according to current year grouping and classification.

As per our attached report of even date

For, Pramodkumar Dad & Associates For and on behalf of the Board of Directors

Chartered Accountants

Abhishek Dad Manish Kiri Dr. Girish Tandel

Partner Chairman and Managing Director Whole-Time Director

MRN : 131918 DIN : 00198284 DIN : 08421333

FRN : 115869W

Suresh Gondalia Jayesh Vyas

Company Secretary Chief Financial Officer

Place : Ahmedabad Place : Ahmedabad

Date : May 30, 2025 Date : May 30, 2025