q) Provisions, Contingent liabilities, Contingent
assets and Commitments:

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.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to
the liability. When discounting is used, the increase in
the provision due to the passage of time is recognised
as a finance cost.

Contingent liability is disclosed in the case of:

1. 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;

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

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

Commitments include the amount of purchase order
(net of advances) issued to parties for completion of
assets.

Provisions, contingent liabilities, contingent assets
and commitments are reviewed at each balance sheet
date.

r) Earnings per share

Basic earnings per share are calculated by dividing
the net profit for the year attributable to equity
shareholders by the weighted average number of
equity shares outstanding during the year.

For the purpose of calculating diluted earnings per
share, the profit or loss for the year as adjusted for
dividend, interest and other charges to expense or
income (net of any attributable taxes) relating to the
dilutive potential equity shares 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.

s) Operating Segment

Operating segments are those components of the
business whose operating results are regularly
reviewed by the chief operating decision making body
in the Company to make decisions for performance
assessment and resource allocation. The reporting of
segment information is the same as provided to the
management for the purpose of the performance
assessment and resource allocation to the segments.
The accounting policies adopted for segment
reporting are in line with the accounting policies of
the Company. Segment revenue, segment expenses,
segment assets and segment liabilities have
been identified to segments on the basis of their
relationship to the operating activities of the segment.
Inter Segment revenue is accounted on the basis of
transactions which are primarily determined based on
market / fair value factors. Revenue, expenses, assets
and liabilities which relate to the Company as a whole
and are not allocated to segments on a reasonable
basis have been included under "unallocated revenue
/ expenses / assets / liabilities".

t) Fair value measurement

The Company measures financial instruments, such as
derivatives at fair value at each balance sheet date.

Fair value is the price that would be received to sell
an asset or paid to transfer a liability in an orderly
transaction between market participants at the
measurement date. The fair value measurement is
based on the presumption that the transaction to sell
the asset or transfer the liability takes place either:

1. In the principal market for the asset or liability,
Or

2. In the absence of a principal market, in the most
advantageous market for the asset or liability.

The principal or the most advantageous market must
be accessible by the Company.

The fair value of an asset or a liability is measured
using the assumptions that market participants would
use when pricing the asset or liability, assuming
that market participants act in their economic best
interest.

The Company uses valuation techniques that are
appropriate in the circumstances and for which
sufficient data are available to measure fair value,
maximising the use of relevant observable inputs and
minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured
or disclosed in the Standalone Financial Statements
are categorised within the fair value hierarchy,
described as follows, based on the lowest level input
that is significant to the fair value measurement as a
whole:

1. Level 1 — Quoted (unadjusted) market prices in
active markets for identical assets or Liabilities.

2. Level 2 — Valuation techniques for which the
lowest level input that is significant to the fair
value measurement is directly or indirectly
observable.

3. Level 3 — Valuation techniques for which the
lowest level input that is significant to the fair
value measurement is unobservable.

For assets and liabilities that are recognised in the
Standalone Financial Statements on a recurring
basis, the Company determines whether transfers
have occurred between levels in the hierarchy by re¬
assessing categorisation (based on the lowest level
input that is significant to the fair value measurement
as a whole) at the end of each reporting period.

u) Current and non-current classification

The Company presents assets and liabilities in
the balance sheet based on current / non-current
classification. An asset is treated as current when it is:

1. Expected to be realised or intended to be sold or
consumed in normal operating cycle;

2. Held primarily for the purpose of trading;

3. Expected to be realised within twelve months
after the reporting period,

Or

4. Cash or cash equivalent unless restricted from
being exchanged or used to settle a liability
for at least twelve months after the reporting
period.

All other assets are classified as non-current.

A liability is current when:

1. It is expected to be settled in normal operating
cycle;

2. It is held primarily for the purpose of trading;

3. It is due to be settled within twelve months after
the reporting period,

Or

4. There is no unconditional right to defer the
settlement of the liability for at least twelve
months after the reporting period.

All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non¬
current assets and liabilities.

The operating cycle is the time between the acquisition
of assets for processing and their realisation in cash
and cash equivalents. The Company has identified
twelve months as its operating cycle.

v) Exceptional items

An item of income or expense which based on its
size, nature or incidence requires separate disclosure
in order to improve an understanding of the
performance of the Company is disclosed separately
as an exceptional item in the Standalone Financial
Statements.

w) Rounding off

All amounts disclosed in the Standalone Financial
Statements and notes have been rounded off to the
nearest crore as per the requirements of Schedule III,
unless otherwise stated. Any amount appearing as
' 0.00 represents amount less than ' 50,000.

x) Significant estimates and judgments

The preparation of the Company's Standalone
Financial Statements requires management to make
judgments, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets
and liabilities, and the accompanying disclosures, and
the disclosure of contingent liabilities. Uncertainty
about these assumptions and estimates could result
in outcomes that require a material adjustment to
the carrying amount of assets or liabilities affected in
future periods.

The estimates and assumptions that may have a
significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the
next financial period are described below:

(a) Impairment of Goodwill

Determining whether goodwill is impaired
requires an estimation of the value-in-use of
the cash generating units to which goodwill
has been allocated. The value-in-use calculation
requires the management to estimate the future
cash flows expected to arise from the cash¬
generating unit and a suitable discount rate
in order to calculate present value. Where the
actual future cash flows are less than the carrying
amount, a material impairment loss may arise.

(b) Legal & tax matters and contingent liabilities

Various litigations and claims related to Company
are assessed primarily by the management
and also in certain cases by with the support of
the relevant external advice. Financial impact
related to such provision for legal & tax matters,
as well as disclosure of contingent liabilities,
require judgment and estimations.

(c) Revenue recognition

The Company provides various discounts to the
customers. The methodology and assumptions
used to estimate the same are monitored and
adjusted regularly in the light of contractual
and legal obligations, historical trends, past
experience and projected market conditions.

(d) Government Grants

Government grants are recognised where
there is reasonable assurance that the grant
will be received and all attached conditions will
be complied with. Assessment of unfulfilled
conditions and other contingencies attaching to
government assistance that has been recognised
require judgment and estimations.

(e) Defined benefit plan

The cost of the defined benefit gratuity plan and
the present value of the gratuity is determined
using actuarial valuations. An actuarial valuation
involves making various assumptions that may
differ from actual developments in the future.
These include the determination of the discount
rate, future salary increases and mortality rates.
Due to the complexities involved in the valuation
and its long-term nature, a defined benefit
obligation is highly sensitive to changes in these
assumptions. All assumptions are reviewed at
each reporting date.

(f) Mines restoration obligation

In determining the mines restoration obligation,
assumptions and estimates are made in relation
to discount rates, the expected cost of mines
restoration and the expected timing of those
costs.

(g) Useful Lives of Property, Plant & Equipment
and Intangible Assets:

The Company uses its technical expertise
along with historical and industry trends for
determining the economic life of an asset /
component of an asset. The useful lives are
reviewed by management periodically and
revised, if appropriate. In case of a revision, the
unamortised depreciable amount is charged
over the remaining useful life of the assets.

y) New and amended standards

Ministry of Corporate Affairs ("MCA") notifies new
standard or amendments to the existing standards
under Companies (Indian Accounting Standards)
Rules as issued from time to time. During the year,
MCA vide notification dated September 9, 2024 and
September 20, 2024 notified the Companies (Indian
Accounting Standard) Second Amendment Rules,
2024 and Companies (Indian Accounting Standards)
Third amendment Rule, 2024 respectively which
amended / notified certain accounting standards and
are effective for annual reporting periods beginning
on or after April 01,2024:

- Insurance Contract - Ind AS 117 and

- Lease Liability in Sale and Leaseback -
Amendment to Ind AS 116.

These amendments did not have any impact on
the amount recognised in prior periods and are not
expected to significantly affect the current or future
periods.

i. Cement CGU

In FY 2024-25, the Company and its wholly owned Subsidiary together has undertaken the unification of their operating,
accounting and financial reporting process with the objective of achieving synergies in procurement, logistics, production,
cross-sales and other workstreams. The above reorganisation of the reporting structures changed the composition of
cash-generating units to which goodwill has been allocated, resulting in the entire goodwill arising from various cement
acquisitions mentioned above being allocated to one Cement CGU (which also represents a separate operating segment).
The revised allocation of goodwill:

a) represents the lowest level at which goodwill is monitored for internal management purposes and,

b) is not larger than an operating segment.

The recoverable amount of the Cement CGU has been determined based on a value in use approach. The projected cash
flows have been updated to reflect the demand for Cement. The pre-tax discount rate applied to cash flow projections for
impairment testing during the year ended March 31,2025 was 14.30% [March 31,2024: 14.94% (NVCL Cement CGU)]. Cash
flows beyond the five-year period are extrapolated using a 2% (March 31,2024: 2%) growth rate that is the same as the long¬
term average growth rate for the industry. It was concluded that the recoverable amount exceeded the carrying value of cash
generating unit hence there is no impairment.

ii. Ready Mix (RMX) CGU

The recoverable amount of the Ready Mix CGU has been determined based on a value in use approach. The projected cash
flows have been updated to reflect the demand for Ready mix. The pre-tax discount rate applied to cash flow projections for
impairment testing during the year ended March 31,2025 was 13.56% (March 31,2024: 15.17%). Cash flows beyond the five-
year period are extrapolated using a 4% (March 31,2024: 4%) growth rate that is the same as the long-term average growth
rate for the industry. It was concluded that the recoverable amount exceeded the carrying value of cash generating unit
hence there is no impairment.

Key assumptions used for value in use calculations

The calculation of value in use for both units is most sensitive to the following assumptions:

(1) Revenue growth rate

(2) Discount rate

Revenue Growth rate - Management estimates the revenue growth rates for respective CGU to which goodwill is allocated are
based on past performance, industry growth forecasts and expectations on demand conditions.

Discount rate - Management estimates discount rates using pre-tax rates that reflect current market assessment of the risks
specific to the CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not
been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Company
and its wholly owned Subsidiary's CGUs / operating segments and is derived from its weighted average cost of capital.

Sensitivity to changes in assumptions

The Company and its wholly owned Subsidiary together has also performed sensitivity analysis calculations on the assumptions
used to determine the value in use for the purpose of impairment testing and based on the analysis results have concluded that,
given the headroom that exists, there is no significant risk that the carrying value of goodwill will exceed its value in use.

| INVESTMENTS (NON-CURRENT) (Contd.)

Notes:

(a) During the previous year, the Board of Directors of the Company at their meeting held on March 22, 2024, had approved
the conversion of unsecured loan and accrued interest thereon totalling to ' 1,229.50 crores outstanding as on that date,
receivable from its unlisted Material Wholly Owned Subsidiary, NU Vista Limited ('NVL'), into 8,78,21,277 equity shares of face
value of ' 10 / - each at a fair value of ' 140 / - per equity share. After settling the balance (fractional) amount of the unsecured
loan, the equity shares have been allotted by NVL to the Company on March 22, 2024. The Company continues to hold 100%
of the paid-up equity share capital of NVL and the above new equity shares shall rank pari passu with the existing equity
shares of NVL.

(b) The Hon'ble National Company Law Tribunal, Mumbai Bench ("NCLT"), has placed on its website on April 03, 2025, its order
dated April 01,2025, approving the resolution plan ("Plan Approval Order") submitted by Nuvoco Vistas Corporation Limited
(the "Company") in the corporate insolvency resolution process of Vadraj Cement Limited ("VCL") in terms of the Insolvency
and Bankruptcy Code, 2016 ("Resolution Plan"). The acquisition of VCL will be undertaken by the Company through the
implementing entity viz. Vanya Corporation Private Limited ("Vanya"), a wholly owned subsidiary of the Company. The
implementation steps as specified in the Resolution Plan are under progress. Subsequently, Vanya will be merged with VCL,
as per the terms and conditions of the Resolution Plan and post the merger, VCL will become the wholly owned subsidiary of
the Company.

(c) The Ministry of coal had allotted a coal block in the state of Maharashtra to a consortium in which the Company is a member.
The Company plans to carry out mining activities through Wardha Vaalley Coal Field Private Limited, a Joint Venture Company
incorporated in India as a special purpose vehicle. The Company's ownership in the Joint Venture Company is 19.14%. The
other owners in the Joint Venture Company being 1ST Steel & Power Limited (53.59%) and Ambuja Cements Limited (27.27%).
In prior years, the allotment of the coal block has been cancelled, and the Joint Venture Company has been show caused for
allegedly not achieving the progress milestones in the development of the mine. Deallocation of the coal block has been
challenged before the Hon'ble Delhi High Court and the matter is sub-judice. The guarantees given by the Joint Venture
Company has also been sought to be invoked but the same has been stayed by the Hon'ble Delhi High Court subject to the
guarantee being kept alive. The Ministry of Coal vide its order dated November 09, 2023 has reduced the penalty to the extent
of ' 1.55 crores, subject to the outcome of the pending writ petition before Delhi High Court . The High court vide its order
dated April 16, 2025 allowed the JV partners to furnish individual bank guarantees totalling to ' 1.55 crores in the respective
ownership proportions. The case is posted for next hearing on August 08, 2025.

Nature and purpose of reserve

A - Capital Reserve, Capital reserve on amalgamation, Capital reserve on merger and amalgamation reserve

The aforesaid reserves were created to record excess of net assets taken over pursuant to amalgamation and merger transaction
undertaken by the company.

B - Debenture Redemption Reserve

The Company has issued non-convertible debentures. The Companies (Share capital and Debentures) Rules, 2014 (as amended)
as well as the amendment in the Companies (Specification of definitions details) Rules, 2014 vide notification dated February 19,
2021 requires the company to create Debenture Redemption Reserve (DRR) out of profits available for payment of dividend. DRR is
required to be created for an amount which is equal to 10% of the value of debentures issued. Accordingly, DRR has been created
over a tenure of the debenture.

C - Cash flow hedge reserve

The Company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable
forecast transactions. For hedging foreign currency risk, the Company uses foreign currency forward contracts which are designated
as cash flow hedges. To the extent these hedge are effective; the change in fair value of hedging instrument is recognised in the
cash flow hedging reserve. Amount recognised in the cash flow hedging reserve is reclassified to profit or loss when hedged item
affects profit or loss.

D - Securities premium

Securities premium is created to record the premium on issue of shares. The balance is utilised in accordance with the provisions
of the Companies Act, 2013.

E - Capital redemption reserve

Capital redemption reserve was created by transferring profits from retained earnings. The balance will be utilised in accordance
with the provisions of the Companies Act, 2013.

F - General reserve

The general reserve is created from time to time by way of transfer of profits from retained earnings for appropriation purposes.

G - Statutory Reserve under Section 45IC of RBI Act

Statutory Reserve under section 45IC of RBI Act was created by transferring profits as per the rules stated therein when the
Company was registered as a Non Banking Financial Company (NBFC).

H - Retained earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, debenture redemption
reserve. Retained earnings include remeasurement (loss) / gain on defined benefit plans net of taxes that will not be reclassified to
Statement of Profit and Loss. Retained earnings is a free reserve available to the Company.

Note: Section 115BAA of the Income Tax Act, 1961, provides an option to an assessee of paying Income Tax at reduced rates. As the
Company has accumulated MAT credit entitlement available for utilisation, the Company has opted for and recorded current tax
expenses as per the existing tax structure. However, the Company has measured its net deferred tax liabilities by applying the tax
rates, as are expected to be applicable, at the time of its reversal in future.

| EMPLOYEE BENEFITS

The Company contributes to the following post-employment benefit plans

(i) Defined Contribution Plans:

The Company makes contributions towards provident fund, superannuation fund and pension scheme to a defined
contribution plans for qualifying employees. Under the plan, the Company is required to contribute a specified percentage of
payroll cost to the retirement contribution plan to fund the benefits.

The Company recognised ? 5.65 crores (March 31,2024: ? 5.97 crores) for superannuation contribution, ? 21.91 crores (March
31,2024: ? 21.56 crores) for provident fund contribution and ? 8.90 crores (March 31,2024: ? 8.01 crores) for pension fund in
the Statement of Profit and Loss.

The contributions made to the above plans by the Company are at rates specified in the rules of the respective plans.

(ii) Defined Benefit Plan:

A. The Company makes annual contributions to HDFC Group Unit Linked Plan, a funded defined benefit plan for qualifying
employees. The scheme provides for payment as under:

i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of the Payment of Gratuity
Act, 1972 with vesting period of 5 years of service.

ii) On death in service: As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity
were carried out as at March 31, 2025. The present value of the defined benefit obligations and the related current
service cost and past service cost, were measured using the Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the status of the defined benefit
plan and the amounts recognised in the financial statements as at balance sheet date:

Notes:

i. Provision for site restoration

The Company provides for the expenses to reclaim the quarries used for mining. The total estimate of reclamation expenses
is apportioned over the life of the operation through depreciation of the assets and unwinding of discount on the provision.
Mines reclamation expenses are incurred on an ongoing basis and until the closure of the mine. The actual expenses may vary
based on the nature of reclamation and the estimate of reclamation expenditure.

ii. Provision for dealer discount

The provision for discounts is on account of various promotion and incentive schemes proposed to be announced for dealers
in respect of products sold by the Company. The provision is based on the historic data / estimated figures of discounts passed
on. The timing and amount of the cash flows that will arise will be determined as and when these schemes are formalised and
pay-offs approved by the management.

iii. Provision for indirect taxes and litigations

Provision for indirect tax and litigations includes disputed cases of GST, excise duty, value added tax, sales tax, entry tax and
other disputed legal cases.

iv. Provision for contractors' charges

Provision for contractors' charges pertains to gratuity amount payable by contractor to its employees which as per the terms
of the contract shall be reimbursed by the Company.

| FINANCIAL INSTRUMENTS - FAIR VALUES AND RISK MANAGEMENT (Contd.)

B. Financial risk management - objectives and policies

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

Ý Credit risk

Ý Liquidity risk, and

Ý Market risk

The Company's activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company's
primary risk management focus is to minimise potential adverse effects of market risk on its financial performance. The Company's
risk management assessment and policies and processes are established to identify and analyse the risks faced by the Company, to
set appropriate risk limits and controls, and to monitor such risks and compliance with same. Management risk assessment policies
and processes are reviewed regularly to reflect changes in market conditions and the Company's activities. The Board of Directors
and the Audit Committee is responsible for overseeing the Company's risk assessment and management policies and processes.

(i) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations. The Company's exposure to credit risk is determined by the individual characteristics and
specifications of each customer. The profile of the customer, including the market risk of the industry has an influence on
credit risk assessment. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring
the credit worthiness of customers to whom the Company grants credit terms in the normal course of business. For Summary
of the Company's exposure to credit risk by age of the outstanding from various customers (Refer note: 12)

The Company has no significant concentration of credit risk with any counterparty outside the group.

Expected credit loss assessment for trade receivables

Trade receivables consist of large number of customers. Exposures to customers outstanding at the end of each reporting
period are reviewed by the Company to determine credit losses. Historical trends of impairment of trade receivables do not
reflect any significant credit losses. As per simplified approach, the Company makes provision of expected credit losses on
trade receivables using a provision matrix to mitigate the risk of default payments and makes appropriate provision at each
reporting date wherever outstanding is for longer period and involves higher risk.

As per policy, receivables are classified into different buckets based on the overdue period ranging from 6 months to more
than three years. There are different provisioning norms for each bucket which are ranging from 50% to 100%.

Cash and bank balances

The Company held cash and bank balances with credit worthy banks and financial institutions. The credit worthiness of such
banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

(ii) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company
manages its liquidity risk by ensuring, that it always have sufficient liquidity to meet its liabilities when due, under both
normal and stressed conditions, without incurring unacceptable losses or risk to the Company's reputation.

The Company has obtained both fund based and non-fund based working capital loans from various banks. The Company
also constantly monitors, as and when required, funding options available in the debt and capital markets with a view to
maintain financial liquidity. The Company enjoys AA and A1 ratings from CRISIL on long term and short term facilities from
banks respectively, indicating very strong degree of safety regarding timely payment of financial obligations and carries
lowest credit risk.

The table below analyses the Company's non-derivative financial liabilities into relevant maturity groupings based on their
contractual maturities (undiscounted basis).

(iii) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest
rates, foreign currency exchange rates and other market changes that affect market risk sensitive instruments. Market risk is
attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables,
payables and borrowings. The Company is exposed to market risk primarily related to foreign exchange rate risk and interest
rate risk.

(a) Currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in foreign exchange rates.

Considering economic environment in which the Company operates, its operations are subject to risks arising from
fluctuation in exchange rates in those countries. The risks primarily relate to fluctuations in the foreign exchange rates
of USD, EURO & GBP, on account of payables to foreign suppliers, for import of coal, petcoke, gypsum and spares.

The Company, as per its risk management policy, uses foreign exchange forward contracts to hedge foreign exchange
exposure (Refer note: 46). The Company does not use derivative financial instruments for trading or speculative
purposes.

(c) Commodity risk

Commodity price risk for the Company is mainly related to fluctuations in coal and pet coke prices linked to various
external factors, which can affect the production cost of the Company. Since the energy costs is one of the primary costs
drivers, any fluctuation in fuel prices can lead to a drop in operating margin. To manage this risk, the Company take
following steps:

i) Optimising the fuel mix, pursue longer term and fixed contracts where considered necessary.

ii) Consistent efforts to reduce the cost of power and fuel by using both domestic and international coal and petcoke.

iii) Use of Alternative Fuel and Raw materials (AFR) and enhancing the utilisation of renewable power including its
onsite and offsite solar power and Waste Heat Recovery System (WHRS).

Additionally, processes and policies related to such risks are reviewed and controlled by senior management and fuel
requirements are monitored by the central procurement team.

| RELATIONSHIP WITH STRUCK OFF COMPANIES

The Company do not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or Section
560 of Companies Act, 1956.

] ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III OF THE COMPANIES ACT, 2013

a. Registration of charges or satisfaction with Registrar of Companies (ROC):

The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies
(ROC) beyond the statutory period.

b. Details of Benami Property held:

The Company does not have any Benami property in its name, where any proceeding has been initiated or pending against
the Company for holding any benami property.

c. Compliance with number of layers of companies :

The Company is in compliance with requirement with respect to 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 (as amended).

d. Utilisation of Borrowed funds and share premium: :

(i) The Company has not given any advance or loan 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

(ii) The Company has 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,

e. Quarterly returns and wilful defaulter :

(i) Quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in
agreement with the books of account.

(ii) The Company has not been declared as a wilful defaulter by any banks or financial institutions or other lender or
government or any government authority

f. Undisclosed income: :

The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered
or disclosed as income during the year (previous 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.

g. Details of Crypto Currency or Virtual Currency: :

The Company has not traded or invested in Crypto currency or Virtual Currency during the year.

53| The Company had installed a Fly Ash classifier at its Mejia Cement Plant in earlier years and has a claim of ' 12.22 crores (March 31,
2024: ' 12.22 crores) on Damodar Valley Corporation (DVC) towards their share of the capital expenditure on such Fly Ash classifier
in terms of the agreement, which along with certain operational settlements are currently under discussion with DVC. Pending
resolution on the matters, the Company has not recognised the above claims in its books. Further, the management is confident
that the claim of the Fly Ash classifier and operational settlements shall be amicably resolved with the party.

58| The Company has disclosed the segment information in the audited consolidated financial statement in accordance with Ind AS
108- 'Operating Segments'

59| The Company uses an accounting software ("SAP S / 4 HANA") for maintaining its books of account which has a feature of recording
audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting
software. Audit trail feature was enabled from July 03, 2024 at the database level , to log any direct data changes to the accounting
software database. Further no instance of audit trail feature being tampered with was noted in respect of the accounting software.
Presently, access for direct data changes to the accounting software database restricted to limited set of users who necessarily
require this access for maintenance and administration of the database.

6o| The figures of the previous year have been regrouped / reclassified wherever necessary to conform to current year's presentation.

The accompanying notes are an integral part of these Standalone Financial Statements.

As per our report of even date attached For and on behalf of the Board of Directors of

Nuvoco Vistas Corporation Limited

For M S K A & Associates CIN: L26940MH1999PLC118229

Chartered Accountants

Firm Registration No. 105047W Jayakumar Krishnaswamy Bhavna Doshi

Managing Director Director

DIN: 02099219 DIN: 00400508

Siddharth Iyer

Partner Maneesh Agrawal Shruta Sanghavi

Membership No. 116084 Chief Financial Officer Company Secretary

Place : Chittorgarh Place : Chittorgarh

Date : May 1,2025 Date : May 1,2025