(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.

A provision for onerous contracts is measured at the
present value of the lower of the expected cost of
terminating the contract and the expected net cost
of continuing with the contract, which is determined
based on the incremental costs of fulfilling the
obligation under the contract and an allocation of
other costs directly related to fulfilling the contract.
Before a provision is established, the Company
recognises any impairment loss on the assets
associated with that contract

(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 entity 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 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.

I f 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

I n 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 ('ECL) 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) Other income

I nterest 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:

Ý the gross carrying amount of the financial asset; or

Ý the amortised cost of the financial liability.

In 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 consolidated financial
statements. Otherwise, events after the balance sheet
date of material size or nature are only disclosed.

(u) Recent pronouncements

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 financial statements.

Notes:

a. Deposits for H 2,143.48 lacs (March 31, 2024: H 1,137.72 lacs) are pledged with Government Departments/
Banks as security.

b. Claims include H 1,299.56 lacs (March 31, 2024 : Nil) receivable towards Liquidated damages for delay in commercial
operations of Solar power plant, H 262.32 lacs (March 31, 2024 : H 576.75 lacs) receivable towards reimbursement
of Sales Tax under Industrial Investment Promotion Policy (IIPP 2005-2010) Scheme of Andhra Pradesh.
Other receivables are in the nature of discount receivable on fuels etc.

c. Information about the Company's exposure to credit risk, market risk and fair value measurement is included in
Notes 42 and 48.

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 H 4.16 lacs to acquire 41,624 equity shares of AMP Solar Systems Private Limited at H 10.00 (Face
Value of H 10.00) each constituting 26.00% stake of the SPV's equity share capital.

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

c. The Company has entered into a Share Subscription and Shareholders' Agreement (SSSHA) with Cleantech Solar
India OA2 Pte. Ltd and Ardeur Renewables Private Limited ("SPV”) for the purpose of setting up solar power plant
with a capacity of 16 MWdc for Chittapur plant in the state of Karnataka and 3.7 MWdc for Jalgaon plant in the
state of Maharashtra under Captive Scheme. The Company has paid an investment consideration of H 866.80 lacs
to acquire 10,83,500 equity shares of Ardeur Renewables Private Limited at H 80.00 (Face Value of H 10.00) each
constituting 28.52% stake of the SPV's equity share capital.

d. Information about the Company's exposure to credit risk, market risk and fair value measurement is included in
Notes 42 and 48.

* As per the terms of the agreement and in-line with the guidance under the applicable accounting standards, these
investments would not be a subsidiary or associate of the Company.

Notes :

a. Trade receivables are pledged against the borrowings of the Company as referred in Note 17.

b. For ageing analysis of trade receivables, refer Note 43(a).

c. No trade or other receivable are due from directors or other officers of the Company either severally or jointly with
any other person nor any trade or other receivable are due from firms or private companies respectively in which
any director is a partner, a director or a member.

d. Information about the Company's exposure to credit risk, market risk and fair value measurement is included in
Notes 42 and 48.

* The above unsecured trade receivables include receivables considered good in respect of which the Company holds
guarantees from banks amounting to H 2,567.47 lacs (March 31, 2024: H 2,063.75 lacs).

a) Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having a par value of H 1 per share. Each holder of equity shares
is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed
by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaining assets of
the Company after distribution of all preferential amounts, in proportion to their shareholding.

During the year ended March 31,2025, final dividend of H 1.50 per share (March 31,2024: H 1 per share) and Interim dividend
of Nil per share (March 31, 2024: H 0.75 per share) was recognised for distribution to equity shareholders respectively.
The Board of Directors, at its meeting on April 13, 2025, have proposed a dividend of H 0.50 per equity share for the
financial year ended March 31, 2025. The proposal is subject to the approval of shareholders at the forthcoming
Annual General Meeting and if approved would result in a cash outflow of approximately H 1,025.55 lacs. The dividend
is accounted for in the year in which it is approved by the shareholders. The proposed dividend is inclusive of Tax
deducted at source.

During the five years period ended March 31, 2025, no shares have been bought back or issued for consideration
other than cash and no bonus shares have been issued.

The Description of the nature and purpose of each reserve is as follows -

General Reserve: The General reserve is created by a transfer from one component of other equity to another and is not
an item of other comprehensive income, items included in the General reserve will not be reclassified subsequently to
the Statement of Profit and Loss.

Securities Premium : Securities premium is used to record the premium on issue of shares. It is utilised in accordance
with the provisions of the Companies Act 2013.

Employee Stock Options Outstanding Reserve: The Company has share option schemes under which options to subscribe
for the Company's shares have been granted to certain executives and senior employees. The employee stock options
outstanding reserve is used to recognise the value of equity-settled share-based payments provided to employees,
including key management personnel, as part of their remuneration. Refer to Note 35 for further details of these plans.

Retained earnings: Retained earnings are the profits that the Company has earned till date, less any transfers to general
reserve, dividends paid to shareholders. Retained earnings includes re-measurement gain/(loss) 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.

Provision for mining restoration costs

The activities of the Company involve mining of land taken under lease. In terms of relevant statutes, the mining areas
would require restoration at the end of the mining lease. The future restoration expenses are affected by a number of
uncertainties, such as, technology, timing etc. Because of the long-term nature of the liability, the greatest uncertainty in
estimating the provision is the costs that will be incurred. In particular, the Company has assumed that the mine will be
restored using technology and materials that are currently available. The provision has been calculated using a discount
rate of 8.50% p.a. (March 31, 2024: 8.50% p.a), which is the risk-free rate. As per the requirement of Ind AS 37, the
management has estimated such future expenses on a best judgment basis and provision thereof has been made in the
accounts at their present value. The table below gives information about movement in mining restoration cost provisions.

Provision for rehabilitation and resettlement obligation relating to mines

In terms of Environment clearance given by Ministry of Environment, Forest and Climate Change (MOEF) for the
Company's integrated plant at Chittapur, Karnataka, the Company is required to spend H 7,261.62 lacs on socio economic
welfare measures by 2025. Further, the Company got an extension letter from the Government of Karnataka to spend
the remaining liability by September, 2028. There are no uncertainties in the projected cash flows. The provision has
been calculated using a discount rate of 8.5% p.a (March 31, 2024: 8.50% p.a), which is the risk-free rate As per the
requirement of Ind AS 37, provision thereof has been made in the accounts at their present value. The table below gives
information about movement in rehabilitation and resettlement cost provisions.

35. 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 May 8, 2015, the Board of Directors approved the Employee Stock Option Scheme 2015 for issue of stock
options to the key employees of the Company. 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
viz, continuing employment on the roll of the Company as on April 01, 2015 as well as new employees who replaces
the old eligible employee and joins the employment of the Company before June 30, 2017 and continuing employment
till grant date.

These defined benefit plans expose the Company to actuarial risks, such as Interest rate risk, Liquidated risk, Salary
Escalation risk, Demographic risk and Regulatory risk.

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.

The exercise period for the aforesaid Employee stock options was lapsed on 04 August 2023 without any options
being exercised. Accordingly, the Company reversed the amount accumulated in Employee stock option outstanding
reserve for the aforesaid grant to Retained Earnings in the respective year.

(b) 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 weighted average remaining contractual life of the stock options is Nil years (March 31, 2024: 0.97 years).

The Employee Stock Option Allotment committee in its meeting held on 27 November 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 exercise period for the aforesaid Employee stock options
was exercised on 08 November 2024.

(c) 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

Note :

a. The plea by the Company challenging the constitutional validity of Electricity duty demand of H 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 H 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/ favourable 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 there against is considered necessary. The timing of outflow of resources in not ascertainable.

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

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.

The Company does not have higher concentration of
credit risks since no single customer accounted for
10% or more of the Company's net sales.

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 43(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.

44. Capital management

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity reserves
attributable to the equity holders. The primary objective of the Company's capital management is to maximise the
shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and
the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the
dividend payment to shareholders, return capital to shareholders and issue new shares. The Company monitors capital
using debt-equity ratio, which is total debt less cash and cash equivalents and current investments divided by total equity.

48. Fair Value

Accounting 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.

Level 2: The fair value of financial instruments that are not traded in an active market (For example traded bonds, over
the counter derivatives) is determined using valuation techniques which maximise the use of observable market data
and rely as little as possible on company specific estimates. If all significant inputs required to fair value an instrument
are observable, the instrument is included in Level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.

The fair value of the financial assets and liabilities approximates their carrying amounts as at the balance sheet date.
Accordingly, They are present together below:

49. The Indian Parliament has approved the Code on Social
Security, 2020 which would impact the contributions
by the company towards Provident Fund and Gratuity.
The Ministry of Labour and Employment had released
draft rules for the Code on Social Security, 2020 on
November 13, 2020. The Company will assess the

impact and its evaluation once the subject rules are
notified. The Company will give appropriate impact
in its financial statements in the period in which,
the Code becomes effective and the related rules to
determine the financial impact are published.

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.

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

xiii. The Company has not entered into any scheme of
arrangement which has an accounting impact on
current or previous financial year.

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

51. Ambuja Cements Limited (the "Acquirer"), entered
into Share Purchase Agreements ("Agreements") with
the promoter group and certain other shareholders
on October 22, 2024 pursuant to which, the Acquirer
shall obtain 46.80% of the shareholding of the
Company subject to the terms and conditions as set
out in the Agreements. The Acquirer received the
approval from the Competition Commission of India
(CCI) on March 04, 2025.

As on the date of approval of these audited financial
statements by the Board, the promoter group
continues to be the existing shareholders, pending
consummation of the underlying transaction and the
completion of Open offer.

iii. The Company do not have any charges or satisfaction
which is yet to be registered with ROC beyond the
statutory period.

iv. The Company has not been declared a wilful defaulter
by any bank or financial institution or government or
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 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