(m) Provisions

A provision is recognised when the Company has
a present obligation as a result of 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. 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.
These estimates are reviewed at each reporting date
and adjusted to reflect the current best estimates.

Mines Restoration Provision

An obligation for restoration, rehabilitation and
environmental costs arises when environmental
disturbance is caused by the development or ongoing
extraction from mines. Costs arising from restoration
at closure of the mines and other site preparation
work are provided for based on their discounted net
present value, with a corresponding amount being
capitalised at the start of each project. The amount
provided for is recognised, as soon as the obligation
to incur such costs arises. These costs are charged
to the Statement of Profit and Loss over the life of
the operation through the depreciation of the asset
and the unwinding of the discount on the provision.
The costs are reviewed periodically and are adjusted
to reflect known developments which may have
an impact on the cost or life of operations. The
cost of the related asset is adjusted for changes in
the provision due to factors such as updated cost
estimates, new disturbance and revisions to discount
rates. The adjusted cost of the asset is depreciated
prospectively over the lives of the assets to which
they relate. The unwinding of the discount is shown
as a finance cost in the Statement of Profit and Loss.

(n) Contingent liabilities and Contingent Assets

A contingent liability is a possible obligation that
arises from past events whose existence will be
confirmed by the occurrence or non-occurrence
of one or more uncertain future events beyond the
control of the Company or a present obligation that
is not recognised because it is not probable that
an outflow of resources will be required to settle
the obligation. A contingent liability also arises
in extremely rare cases where there is a liability
that cannot be recognised because it cannot be
measured reliably. The Company does not recognise
a contingent liability but discloses its existence in the
financial statements. It is reviewed at each balance
sheet date.

Contingent assets are not recognised in financial
statements since this may result in the recognition
of income that may never be realised. However,
when the realisation of income is virtually certain,
then the related asset is not a contingent asset and
is recognised. A contingent asset is disclosed, in
financial statements, where an inflow of economic
benefits is probable. It is reviewed at each balance
sheet date.

(o) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank
and in hand and short-term deposits with an original
maturity of three months or less, which are subject
to an insignificant risk of changes in value and are
also used for the purpose of Statement of Cash
Flows, as these are considered an integral part of the
Company's cash management.

(p) Employee stock options

Certain employees of the Company receive
remuneration in the form of share-based payments,
whereby employees render services as consideration
for equity instruments (equity-settled transactions).

The cost of equity-settled transactions is determined
by the fair value at the date when the grant is made
using an appropriate valuation model. The cost is
recognised, together with a corresponding increase
in reserves, over the period in which the performance
and/or service conditions are fulfilled in employee
benefits expense.

Service and non-market performance conditions
are not taken into account when determining the
grant date fair value of awards, but the likelihood
of the conditions being met is assessed as part of
the Company's best estimate of the number of
equity instruments that will ultimately vest. Market
performance conditions are reflected within the
grant date fair value.

When the terms of an equity-settled award are
modified, the minimum expense recognised is the
expense had the terms had not been modified, if the
original terms of the award are met. An additional
expense is recognised for any modification that
increases the total fair value of the share-based
payment transaction, or is otherwise beneficial to the
employee as measured at the date of modification.
Where an award is cancelled by the Company or by
the counterparty, any remaining element of the fair
value of the award is expensed immediately through
profit or loss.

The dilutive effect of outstanding options is reflected
as additional share dilution in the computation of
diluted earnings per share.

(q) Financial instruments

i. Recognition and initial measurement

Trade receivables and debt securities issued
are initially recognised when they are
originated. Trade receivables that do not
contain a significant financing component are
measured at transaction price (net of variable
consideration). All other financial assets and
liabilities are recognised are initially recognised
when the Company becomes a party to the
contractual provisions of the instrument.

A Financial asset (unless it is a trade receivable
without a significant financing component)
or financial liability is initially measured at fair
value plus or minus, for an item not at FVTPL,
transaction costs that are directly attributable
to its acquisition or issue. A trade receivable
without a significant financing component is
initially measured at the transaction price.

ii. Financial assets - classification and subsequent
measurement:

• Financial assets at amortised cost

Financial assets are subsequently measured
at amortised cost if these financial assets
are held within a business whose objective
is to hold these assets in order to collect
contractual cash flows and the contractual
terms of the financial asset give rise on
specified dates to cash flows that are solely
payments of principal and interest on the
principal amount outstanding.

• Financial assets at fair value through
other comprehensive income

Financial assets are measured at fair value
through other comprehensive income if
these financial assets are held within a
business whose objective is achieved by
both collecting contractual cash flows and
selling financial assets and the contractual
terms of the financial asset give rise on
specified dates to cash flows that are solely
payments of principal and interest on the
principal amount outstanding.

• Financial assets at fair value through
profit or loss

Financial assets are measured at fair value
through profit or loss unless it is measured
at amortised cost or at fair value through
other comprehensive income on initial
recognition. The transaction costs directly
attributable to the acquisition of financial
assets and liabilities at fair value through
profit or loss are immediately recognised in
the statement of profit and loss.

iii. Financial liabilities - classification and
subsequent measurement:

Financial liabilities are classified as either
financial liabilities at fair value through profit or
loss ("FVTPL') or other financial liabilities.

• Financial liabilities at FVTPL

Financial liabilities are classified as at
FVTPL when the financial liability is held
for trading or are designated upon initial
recognition as FVTPL. Gains or losses on
liabilities held for trading are recognised in
the statement of profit and loss.

• Other financial liabilities

Other financial liabilities (including
borrowings and trade and other payables)
are subsequently measured at amortised
cost using the effective interest method.

The effective interest method is a method
of calculating the amortised cost of a
financial liability and of allocating interest
expense over the relevant period. The
effective interest rate is the rate that
exactly discounts estimated future cash
payments (including all fees and points paid
or received that form an integral part of the
effective interest rate, transaction costs
and other premiums or discounts) through
the expected life of the financial liability, or
(where appropriate) a shorter period, to the
net carrying amount on initial recognition.

iv. De-recognition of financial instruments

• Financial asset

The Company derecognises a financial
asset when the contractual rights to the
cash flows from the financial asset expire,
or it transfers the right to receive the
contractual cash flows in a transaction
in which substantially all of the risks and
rewards of ownership of the financial asset
are transferred or in which the Company
neither transfers nor retains substantially
all of the risks and rewards of ownership
and does not retain control of the financial
asset.

If the Company enters transaction whereby
it transfers assets recognised on its balance
sheet but retains either all or substantially
all the risks and rewards of the transferred
assets, the transferred assets are not
derecognised.

• Financial liability

The Company derecognises a financial
liability when its contractual obligations
are discharged or cancelled or the same
expires.

The Company also derecognise a financial
liability when its terms are modified and the
cash flows under the modified terms are
substantially different. In this case, a new
financial liability based on the modified terms
is recognised at fair value. The difference
between the carrying amount of the financial
liability extinguished and the new financial
liability with modified terms is recognised in
the statement of profit and loss.

v. Offsetting

Financial assets and financial liabilities are
offset and the net amount is presented in
the Balance Sheet when, and only when, the
Company has a legally enforceable right to set
off the amount and intends to settle them on a
net basis or to realise the asset and settle the
liability simultaneously.

vi. Fair value of financial instruments

In determining the fair value of its financial
instruments, the Company uses following
hierarchy and assumptions that are based on
market conditions and risks existing at each
reporting date.

All assets and liabilities for which fair value
is measured or disclosed in the 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:

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

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

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 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.

When the fair values of financial assets and
financial liabilities recorded in the financial
statements cannot be measured based on
quoted prices in active markets, their fair value is
measured using valuation techniques including
the discounted cash flow model. The inputs
to these models are taken from observable
markets where possible, but where this is not
feasible, a degree of judgements is required in
establishing fair values. Judgements include
considerations of inputs such as liquidity risk,
credit risk volatility and discount rates. Changes
in assumptions about these factors could affect
the reported fair value of financial instruments.

vii. Impairment

• Financial assets (other than at fair value)

The Company assesses at each date of the
balance sheet whether a financial asset or a
group of financial assets is impaired. Ind AS
109 requires expected credit losses ('ECU)
to be measured through a loss allowance.
The Company recognises lifetime expected
losses for trade receivables and contract
assets that do not constitute a financing
transaction. For all other financial assets,
expected credit losses are measured at an
amount equal to the 12-month expected
credit losses or at an amount equal to the
lifetime expected credit losses if the credit
risk on the financial asset has increased
significantly since initial recognition. The
Company write-off's the receivables only
on completion of the legal proceedings or
if it is certain that the balance will not be
recoverable.

(r) Statement of Cash Flows

Cash flows are reported using the indirect method,
whereby the net 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.

(s) Interest income / expenses

Interest income or expense is recognised using the
effective interest method.

The 'effective interest rate' is the rate that exactly
discounts estimated future cash payments or receipts
through the expected life of the financial instrument to:

• the gross carrying amount of the financial
asset; or

• the amortised cost of the financial liability.

I n calculating interest income and expense, the
effective interest rate is applied to the gross carrying
amount of the asset (when the asset is not credit-
impaired) or to the amortised cost of the liability.
However, for financial assets that have become
credit-impaired subsequent to initial recognition,
interest income is calculated by applying the effective
interest rate to the amortised cost of the financial
asset. If the asset is no longer credit-impaired, then
the calculation of interest income reverts to the gross
basis.

(t) Events after reporting date

Where events occurring after the balance sheet date
provide evidence of conditions that existed at the end
of the reporting period, the impact of such events is
adjusted within the financial statements. Otherwise,
events after the balance sheet date of material size
or nature are only disclosed.

(u) Foreign currencies translations

The Company's financial statements are presented in
(I), which is also the Company's functional currency.

Transactions in foreign currencies are initially
recorded by the company at its respective functional
currency spot rates at the date the transaction first
qualifies for recognition.

Monetary assets and liabilities denominated in
foreign currencies are translated at the functional
currency spot rates of exchange at the reporting
date. Exchange differences on monetary items are
recognised in the statement of profit and loss in the
period in which they arise.

Non-monetary items which are carried in terms of
historical cost denominated in a foreign currency are
reported using the exchange rate at the date of the
transaction.

(v) Exceptional Items

Exceptional items refer to items of income or
expense, within the statement of profit and loss from
ordinary activities which are non-recurring and are
of such size, nature or incidence that their separate
disclosure is considered necessary to explain the
performance of the Company.

2.3 New and Amended Standards:

Ministry of Corporate Affairs ("MCA") notified
new standards or amendments to the existing
standards under Companies (Indian Accounting
Standards) Rules as issued from time to time. During
the year ended March 31, 2026, MCA has notified
the Companies (Indian Accounting Standards)
Amendment Rules, 2025 applicable to the Company

w.e.f. April 1, 2025. The Company has not early
adopted any standard, interpretation or amendment
that has been issued but not yet effective.

(i) Amendments to Ind AS 21 - Lack of
exchangeability

The amendment requires the Effects of Changes
in Foreign Exchange Rates to specifies how
an entity should assess whether a currency is
exchangeable and how it should determine a
spot exchange rate when exchangeability is
lacking. The amendments also require disclosure

of information that enables users of its financial
statements to understand how the currency
not being exchangeable into the other currency
affects, or is expected to affect, the entity's
financial performance, financial position and
cash flows.

The amendments are effective for annual
reporting periods beginning on or after April 1,
2025. When applying the amendments, an entity
cannot restate comparative information.

The amendments do not have a material impact
on the Company's financial statements.

(ii) Amendments to Ind AS 1 - Classification
of Liabilities as Current or Non-current and
Non-current Liabilities with Covenants

In August 2025, the MCA notified amendments
to paragraphs 69 to 76 of Ind AS 1 to specify the
requirements for classifying liabilities as current
or non-current. The amendments clarify:

• What is meant by a right to defer settlement

• That a right to defer must exist at the end
of the reporting period

• That classification is unaffected by the
likelihood that an entity will exercise its
deferral right

• That only if an embedded derivative in
a convertible liability is itself an equity
instrument would the terms of a liability
not impact its classification

In addition, a requirement has been introduced
to require disclosure when a liability arising from
a loan agreement is classified as non-current
and the entity's right to defer settlement is
contingent on compliance with future covenants
within twelve months.

If there is a breach of a material covenant of a
long-term loan arrangement on or before the end
of the reporting period, resulting in the liability
becoming payable on demand as at the reporting
date, and the lender agrees—after the reporting
period but before the financial statements are
approved for issue—not to demand repayment
for at least 12 months as a consequence of the

breach, this shall not be treated as an adjusting
event. Accordingly, the entity is required to
classify the liability as current.

The amendments are effective for annual
reporting periods beginning on or after 1 April
2025 retrospectively in accordance with Ind AS 8.

The amendments do not have a material impact
on the Company's financial statements.

(iii) Amendments to Ind AS 7 and Ind AS 107 -
Supplier Finance Arrangements

In August 2025, the MCA notified amendments to
Ind AS 7 Statement of Cash Flows and Ind AS 107
Financial Instruments: Disclosures to clarify the
characteristics of supplier finance arrangements
and require additional disclosure of such
arrangements. The disclosure requirements in
the amendments are intended to assist users
of financial statements in understanding the
effects of supplier finance arrangements on an
entity's liabilities, cash flows and exposure to
liquidity risk.

The amendments do not have a material impact
on the Company's financial statements as the
Company do not have any such arrangements.

(iv) International Tax Reform-Pillar Two Model
Rules - Amendments to Ind AS 12

In August 2025, the MCA notified amendments
to Ind AS 12 Income Taxes in response to the
OECD's BEPS Pillar Two rules and include:

Ý A mandatory temporary exception to the
recognition and disclosure of deferred
taxes arising from the jurisdictional
implementation of the Pillar Two model
rules; and

Ý Disclosure requirements for affected
entities to help users of the financial
statements better understand an entity's
exposure to Pillar Two income taxes arising
from that legislation, particularly before
its effective date.

The mandatory temporary exception - the use
of which is required to be disclosed - applies
immediately.

The amendments had no impact on the
Company's financial statements as the Company
is not in scope of the Pillar Two model rules.

Notes:

a. The purpose of investment in AMP Solar Systems Private Limited ("SPV”) was to set up a solar power plant in
Maharashtra under Captive Scheme for Company's grinding unit at Jalgaon. The Company had paid an investment
consideration of I 4.16 lacs to acquire 41,624 equity shares of AMP Solar Systems Private Limited at I 10.00 (Face
Value of I 10.00) each constituting 26.00% stake of the SPV's equity share capital.

b. The Company has paid an investment consideration of I 412.33 lacs to acquire 41,233, 0.01% Compulsorily convertible
debentures (CCDs) of AMP Solar Systems Private Limited at I 1,000 (Face value I 1,000) each constituting 26.00%
stake of the SPV's debenture. These debenture will convert into 100 equity shares (Face value of I 10/- each) of
the SPV at the conversion date in accordance with the terms of the investment agreement.

(f) for details of shares reserved for issue under the Employee Stock Option Plan (ESOP) of the Company, refer Note 36.

(g) There are no shares bought back or allotted either as fully paid up by way of bonus shares or allotted under any
contract without payment received in cash during 5 years immediately preceding March 31, 2026.

(h) Ambuja Cements Limited (the "Acquirer”) entered into Share Purchase Agreement ("SPA”) with the erstwhile
promoters/promoter group and certain public shareholders of the Company on October 22, 2024. In terms of the
said SPA, the Acquirer acquired 9,58,73,163 equity shares (46.66%) of the Company on April 22, 2025. The Acquirer
has taken over operational and financial control over the Company with effect from April 22, 2025.

Pursuant to the said acquisition, the Company has become a subsidiary of Ambuja Cements Limited.

Further, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and

Takeovers) Regulations, 2011, the Acquirer has made open offer for acquisition of 5,34,19,567 (26.00%) equity shares

of the Company from the public shareholders at a price of I 395.40/- per share, which was completed on June 18, 2025.

Accordingly, the total shareholding by the Acquirer increased to 14,92,92,730 (72.66%) equity shares in the Company.

Note 35 - Gratuity and other post-employment benefit plans

The Company has a defined benefit gratuity plan. The gratuity plan is governed by the Payment of Gratuity Act, 1972.
Under the Payment of Gratuity Act, 1972, employee who has completed five years of service is entitled to specific
benefit. The scheme is funded with insurance companies in the form of qualifying insurance policy for own employees
and unfunded for contractor and school employees.

The following tables summarise the components of net benefit expense recognised in the Statement of Profit and Loss
and the funded status and amounts recognised in the balance sheet for the plan.

Asset Liability matching strategy: The money contributed by the Company to the Gratuity fund to finance the liabilities
of the plan has to be invested. The trustees of the plan have outsourced the investment management of the fund to an
insurance company. The insurance company in turn manages these funds as per the mandate provided to them by the
trustees and the asset allocation which is within the permissible limits prescribed in the insurance regulations. Due to
the restrictions in the type of investments that can be held by the fund, it is not possible to explicitly follow an asset
liability matching strategy. There is no compulsion on the part of the Company to fully refund the liability of the Plan.
The Company's philosophy is to fund these benefits based on its own liquidity and the level of underfunding of the plan.

As on November 21, 2025 the Government of India notified four Labour Codes effective immediately replacing the
existing 29 labour laws.

The impact of implementation of the Labour Codes has resulted in an increase of I 632.87 Lacs (including net adjustment
of I 10.43 lacs during the quarter ended March 31, 2026) in the liabilities for defined benefit obligation. The amount
has been measured and recognised based on management assessment of the impact on defined benefit obligation on
such implementation and net incremental liability has been recognised as an " Exceptional item” during the year ended
March 31, 2026.

The Company continues to monitor the finalisation of Central and State Rules, as well as Government clarification on
other aspects of the Labour Codes, and will recognise the consequential impact, if any, based on such developments.

Note 36 - Employee stock option scheme

The Company provides share-based payment schemes to its employees. The Company had formulated an employee
stock option scheme, namely Employee Stock Option Scheme 2015 (ESOP) in an earlier year. The relevant details of
the scheme and grant are as below:

(a). On November 09, 2022, the Board of Directors, granted 310,099 stock options under Employee Stock Option
Scheme 2015 out of which award letters for 241,137 stock options have been issued to the Eligible Employees.
According to the scheme, the employee selected by the remuneration committee from time to time will be entitled
to options, subject to satisfaction of the prescribed vesting conditions.

The fair value of the employee stock option plan has been measured using the Black Scholes formula. Service and
non-market conditions attached to the arrangements were not taken into account in measuring fair value. The
inputs used in the measurement of the fair value at the grant date is as follows:

The Employee Stock Option Allotment committee in its meeting held on November 27, 2024 had approved for
allotment of the grant of 241,137 stock options under the existing Orient Cement Employee Stock Option Scheme
- 2015 ("Plan”) to eligible employees of the Company. The aforesaid Employee stock options was exercised on
November 08, 2024.

(b). On November 09, 2023, the Board of Directors, additionally, granted 349,976 stock options under Employee
Stock Option Scheme 2015 to the Eligible Employees. According to the scheme, the employee selected by the
remuneration committee from time to time will be entitled to options, subject to satisfaction of the prescribed
vesting conditions.

The fair value of the employee stock option plan has been measured using the Black Scholes formula. Service and
non-market conditions attached to the arrangements were not taken into account in measuring fair value. The
inputs used in the measurement of the fair value at the grant date is as follows:

Note:

a. The plea by the Company challenging the constitutional validity of Electricity duty demand of I 1,691.31 lacs had
been dismissed by the Hon'ble High Court, Hyderabad in an earlier year. The Company, along with other industry
members, had appealed the matter before Hon'ble Supreme Court of India by paying a protest money of I 1,005.76
lacs, where the hearing is pending. Based on management's internal assessment and also considering advice of an
external legal counsel, the Company believes that the demand shall not sustain under law.

b. Based on discussions with the solicitors/favorable decisions in similar cases/legal opinions taken by the Company,
the Management believes that the Company has a good chance of success in above-mentioned cases and hence,
no provision against it is considered necessary. The timing of outflow of resources is not ascertainable.

c. The amounts assessed as contingent liability do not include interest that could be claimed by counter parties.

Note 42 - Segment reporting

The principal business of the Company is manufacturing
and sale of cement and cement related products. The
Board of Directors of the Company, has been identified as
the Chief Operating Decision Maker (CODM). The CODM
evaluates the Company's performance, allocates resources
based on analysis of the various performance indicators
of the Company as a single unit. CODM have concluded
that there is only one operating reportable segment as
defined under IND AS 108 "Operating Segments”, i.e.
Cement and Cement Related Products which is considered
to constitute one single primary segment.

During the year ended March 31, 2026, the Company has
revenue from operation and receivables greater than 10%
of its total revenue from operation and trade receiables of
I 2,06,346.61 lacs and I 83,840.01 lacs respectively from
two customers.

During the year ended March 31, 2025, the Company does
not have revenue from operation and receivables greater
than 10% of its total revenue from operation and trade
receiables from single customer.

Market risk

Market risk is the risk that the fair value of future cash
flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises three
types of risk: currency risk, interest rate risk and other
price risk, such as commodity price risk and equity price
risk. Financial instruments affected by market risk include
trade payables, trade receivables, borrowings, etc.

Commodity Price Risk

The Company is exposed to commodity price risk arising
out of fluctuation in prices of raw materials (flyash,
gypsum and laterite) and fuel (coal and pet coke). Such
price movements, mostly linked to external factors, can
affect the production cost of the Company. To manage
this risk, the Company take steps such as monitoring of
prices, optimising fuel mix and pursue longer and fixed
price contracts, where considered necessary. Additionally,
processes and policies related to such risks are controlled
by central procurement team and reviewed by the senior
management.

Interest rate risk

The Company's exposure to the risk of changes in market
interest rates relates primarily to the Company's debt
obligations with floating interest rates.

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's
exposure to the risk of changes in market interest rates
relates primarily to the Company's borrowing with floating
interest rates. [March 31, 2026: Nil (March 31, 2025: Nil)].
The Company has not used any interest rate derivatives.
Further, the Company has exposure to risk of changes in
market interest rates on fixed instruments such as bank
deposits and security deposits from dealers. However,
these are not considered to be material. Accordingly, no
separate disclosure is made. There are no outstanding
interest bearing borrowings as on March 31, 2026
and March 31,2025. Hence, the interest rate risk is not
applicable.

Foreign currency risk

The Company's exposure to the risk of changes in foreign
exchange rates is not significant.

Credit risk

Credit risk arises when a customer or counterparty does
not meet its obligations under a financial instrument
or customer contract, leading to a financial loss. The
Company is exposed to credit risk from its operating
activities (primarily trade receivables) and from its
financing/investing activities, including deposits with
banks and investments in equity and debt securities. The
Company has no significant concentration of credit risk
with any counterparty.

Trade receivables

Customer credit risk is managed by the respective
department subject to Company's policy, procedures and
control relating to customer credit risk management.
Credit quality of a customer is assessed based on
individual credit limits as defined by the Company.
Outstanding customer receivables are regularly monitored.
An impairment analysis is performed at each reporting
date on an individual basis. The calculation is based on
historical data of credit losses.

Expected credit loss assessment

The Company has used a practical expedient by computing
the expected loss allowance for financial assets based
on historical credit loss experience and adjustments for
forward looking information. 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. - Quantitative disclosure
of trade receivables bucket wise along with ECL has been
provided in Note 44(a). Ageing Schedule.

Financial assets other than trade receivables

Credit Risk on cash and cash equivalent and term deposits
is generally low as these are kept with banks who have
been assigned high credit rating by international and
domestic rating agencies. Investments of surplus funds
are made only with Financial Institutions approved by
Reserve Bank India.

Balances with banks were not past due or impaired as at
year end. Other than the details disclosed below, other
financial assets are not past due and not impaired, there
were no indications of default in repayment as at year end.

Loans: All of the Company's loans at amortised cost
are considered to have low credit risk, and the loss
allowance, if any, is limited to 12 months' expected losses.
Management considers instruments to be low credit risk
when they have a low risk of default and the borrower
has a strong capacity to meet its contractual cash flow
obligations in the near term.

Investments: The Company has investments in special
purpose vehicles incorporated for the purpose of setting
up solar power plant for supply of power over the term of
power purchase agreement (i.e., 15-25 years) and mutual
funds, thereby limiting the exposure to credit risk. All the
counterparties have sound financial position with positive
net worth. The Company does not expect any losses from
non-performance by these counter parties.

Liquidity risk

Liquidity risk is defined as the risk that the Company will
not be able to settle or meet its obligations at a reasonable
price. The Company's treasury department is responsible
for liquidity, funding as well as settlement management.
In addition, processes and policies related to such risks are
overseen by senior management. Management monitors
the Company's net liquidity position through rolling
forecasts on the basis of expected cash flows.

The Company's objective is to maintain a balance between
continuity of funding and flexibility through the use of
cash credits, bank loans among others.

Note:

(1) The Company has fulfilled its financial commitment related to the ongoing Devapur project during the previous
year. There is no unspent amount under sub-section (5) of Section 135 of the Act pursuant to any ongoing project
as on March 31, 2026.

2) In view of the ongoing CSR commitments of the Company towards promoting education, healthcare and rural
development, vis a vis, the statutory CSR obligations of the Company calculated as per the provisions of Section
135 of the Companies Act, 2013, it is likely that the amount available for set off would be utilised by the Company
during the succeeding three financial years.

Note 49 - Fair ValueAccounting classification and fair values

Set out below, is the comparison of the fair values of the financial assets and liabilities included at the amount at
which the instrument could be exchanged in an orderly transaction in the principal (or most advantageous) market
at measurement date under the current market condition regardless of whether that price is directly observable or
estimated using other valuation techniques.

The Company has established the following fair value hierarchy that categorises the values into 3 levels. The inputs to
valuation techniques used to measure fair value of financial instruments are:

Level 1: This hierarchy uses quoted (unadjusted) prices in active markets for identical assets or liabilities. The fair value
of all securities which are traded in the stock exchanges is valued using the closing price or dealer quotations as at the
reporting date. The mutual fund units are valued using the closing Net Asset Value.

Further, there is no instance of audit trail feature being
tampered with in respect of the accounting software(s)
where such feature is enabled.

Additionally, the audit trail of relevant prior years has been
preserved for record retention to the extent it was enabled
and recorded in those respective years by the Company as
per the statutory requirements for record retention except
the audit trail in respect of direct changes to data when
using certain access rights for financial year 2024-25 and
for the period from April 01, 2025 to February 23, 2026.

Note 51 - Scheme of Amalgamation

The Board of Directors of the Company had, vide its
resolutions dated December 22, 2025, approved the
Scheme of Amalgamation between the Company
("Transferor Company”), Ambuja Cements Limited
("Transferee Company”) and their respective shareholders
under Sections 230 to 232 and other applicable provisions

of the Companies Act, 2013 ("Act”) w.e.f. appointed date
May 1,2025.

Upon the Scheme becoming effective, the equity
shareholders of the Transferor Company (Other than
Transferee Company) will be issued and allotted 33 equity
shares of the face value of I 2 each fully paid of Transferee
Company, for every 100 equity shares of the face value
of I 1 each fully paid held by shareholders in Transferor
Company. Equity Shares held by the Transferee Company
in the Transferor Company shall stand cancelled and
extinguished.

The Transferee Company has filed necessary applications
for seeking no-objections certificates from BSE Limited
(BSE) and National Stock Exchange of India Limited (NSE)
for the Scheme. The proposed Scheme is further subject
to necessary statutory and regulatory approvals under the
applicable laws, including approval of the jurisdictional
Hon'ble National Company Law Tribunal ("NCLT”).

Note 50 - Audit Trail

The Company uses an accounting software(s) 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 except the audit trail

feature was not enabled for direct changes to data when
using certain access rights for the period from April 01,
2025 to August 31, 2025 in respect of the pre-migrated
accounting software i.e. SAP S/4HANA, and for the period
from September 01, 2025 to February 23, 2026 in respect
of the post-migrated accounting software i.e. SAP ECC.

any government authority or any other lender during
the current period.

v. 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

vi. 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.

vii. All quarterly returns or statements of current assets
are filed by the Company with banks or financial
institutions and are in agreement with the books of
accounts.

viii. The loan has been utilised for the purpose for which
it was obtained and no short term funds have been
used for long term purpose.

ix. The Company has not revalued its property, plant
and equipment (including right-of-use assets) or
intangible assets or both during the current period
or previous year.

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

xi. The Company does not have any such transaction
which is not recorded in the books of accounts that
has been surrendered or disclosed as income during
the period 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.

xii. The Company has complied with the number of layers
prescribed under the Companies Act, 2013.

xiii. Details of loans or investments covered under the
provisions of Section 186 of the Companies Act, 2013,
as applicable are provided in Note 11.

Note 53 Events occurring after the balance
sheet date:

The Company evaluates events and transactions that
occur subsequent to the balance sheet date but prior to
the financial statements to determine the necessity for
recognition and/or reporting of any of these events and
transactions in the financial statements. As on the date
of Board Meeting, there were no subsequent events to
be recognised or reported that are not already disclosed.

Note 54 Standards issued but not effective:

The Ministry of Corporate Affairs (MCA), as part of India's
continued convergence with IFRS, has initiated the
process for introduction of Ind AS 118 - Presentation and
Disclosure in Financial Statements, which is converged
with IFRS 18 issued by the IASB in April 2024. Ind AS
118 is intended to replace Ind AS 1 (Presentation of
Financial Statements) and focuses on improving how