r) Provisions, Contingent Assets and Contingent Liabilities

Provisions for legal claims and returns are recognised when the Company has a present legal or constructive obligation as a
result of past event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be
reliably estimated. Provisions are not recognised for future operating losses.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present
obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability The increase in the provisions due
to the passage of time is recognized as interest expense.

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
recognized 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 recognized because it cannot be measured reliably.

The Company does not recognize a contingent liability but discloses its existence in the financial statements.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within the control of the entity.

The Company does not recognize a contingent asset but discloses its existence in the financial statements if the inflow of
economic benefits is probable.

s) Employee benefits

(i) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months
after the end of the period in which the employees render the related service are recognized in respect of employees’
services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are
settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

(ii) Other long-term employee benefit obligations

The liabilities for earned leave is not expected to be settled wholly within 12 months after the end of the period in which
the employees render the related service. They are therefore measured at the present value of expected future payments
to be made in respect of services provided by employees up to the end of the reporting period using the projected unit
credit method. The benefits are discounted using the market yields at the end of the reporting period that have terms
approximating to the terms of the related obligations. Remeasurements as a result of the experience adjustments and
changes in actuarial assumptions are recognized in Statement of profit and loss.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to
defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected
to occur.

(iii) Post-employment obligations

The Company operates the following post-employment schemes:

(a) Defined benefit plans - gratuity; and

(b) Defined contribution plans - provident fund and superannuation fund.

Gratuity obligations

The liability or assets recognized in the balance sheet in respect of gratuity plans is the present value of the defined benefit
obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated
annually by actuaries using the projected unit credit method.

The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows by
reference to market yields at the end of the reporting period on government bonds that have terms approximating to the
terms of the related obligation.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the
fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
recognized in the period in which they occur, directly in other comprehensive income. They are included in retained earnings
in the statement of changes in equity and in the balance sheet.

Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are
recognized immediately in statement of profit or loss as per past service cost.

Defined contribution plans

The Company pays provident fund contributions to publicly administered funds as per local regulations and superannuation
fund to LIC. The Company has no further payment obligations once the contributions have been paid. The contributions
are accounted for as defined contribution plans and the contributions are recognized as employee benefit expense when
they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future
payments is available.

(iv) Bonus plans

The Company recognizes a liability and an expense for bonuses. The Company recognizes a provision where contractually
obliged or where there is a past practice that has created a constructive obligation.

t) Contributed equity

Equity shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from
the proceeds.

u) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorized and no longer at the discretion of the
Company, on or before the end of the reporting period but not distributed at the end of the reporting period.

v) Earning per share

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

O The profit attributable to owners of the Company

O By the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements
in equity shares issued during the year.

(ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

O The after income tax effect of interest and other financing costs associated with dilutive potential equity shares, and

O The weighted average number of additional equity shares that would have been outstanding assuming the conversion
of all dilutive potential equity shares.

w) Non-current assets (or disposal groups) held for sale

Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally
through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at
the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising
from employee benefits, financial assets and contractual rights under insurance contracts, which are specifically exempt from
this requirement.

An impairment loss is recognised for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs
to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in
excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale
of the non-current asset (or disposal group) is recognised at the date of de-recognition.

Non-current assets (including those that are part of a disposal group) are not depreciated or amortised while they are classified
as held for sale. Interest and other expenses attributable to the liabilities of a disposal group classified as held for sale continue
to be recognised.

Non-current assets classified as held for sale are presented separately from the other assets in the balance sheet.

x) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest two decimal places of lakhs as
per the requirement of Schedule III, unless otherwise stated.

(i) Term loans from banks include

- Loan taken from HDFC Bank Limited for boards & panel project at Udumalpet, Tamilnadu State and an additional production line
of cement roofing sheets at Raebareli, Uttar Pradesh State. The loan sanctioned and drawn is H7,500.00 lakhs during the year
2022-23 and is repayable in 24 quarterly installments at the rate of H312.50 lakhs each quarter from the financial year 2022-23
to 2028-29 (i.e., from December’ 2022 to September’ 2028).The current rate of interest is 718% p.a(2025-8.35%p.a) (linked
to treasury bill rate). This loan is secured by first mortgage and charge in favour of the Bank on all the Company’s fixed assets
both present and future and second charge on the current assets of the Company on pari passu basis with other lenders. The
amount outstanding as at balance sheet date is H3125.00 lakhs (2025- H4,375.00 lakhs) repayable in 10 quarterly installments
(out of which H1,250.00 lakhs (2025- H1,250.00 lakhs) are included in Borrowings (current)).

- Loan taken from ICICI Bank Limited for boards & panel project at Udumalpet, Tamilnadu State and an additional production line
of cement roofing sheets at Raebareli, Uttar Pradesh State. The loan sanctioned is H7,500.00 lakhs during the year 2022-23 at
the current rate of interest of 736% p.a(2025-8.52%p.a) (linked to treasury bill rate). Out of which

(a) 5,000.00 lakhs is drawn in September 2022, which is repayable in 22 quarterly installments at the rate of H227.27 lakhs each
quarter from financial year 2022-23 to 2027-28 (i.e., from December’ 2022 to March’ 2028).

(b 2,500.00 lakhs is drawn in January 2023 which is repayable in 21 quarterly installments at the rate of H119.05 lakhs from the
financial year 2022-23 to 2027-28 (i.e., from March’ 2023 to March’ 2028).

This loan is secured by first mortgage and charge in favour of the Bank on all the Company’s fixed assets both present
and future and second charge on the current assets of the Company on pari passu basis with other lenders. The amount
outstanding as at balance sheet date is H2,770.56 lakhs (2025- H4155.84 lakhs) repayable in 8 quarterly installments (out of
which H1,385.28 lakhs (2025- H1,385.28 lakhs)are included in Borrowings (current)).

- Loan taken from IDBI Bank Limited for boards project at Midnapur, West Bengal State. The loan sanctioned and drawn is
H9,000.00 lakhs during the year 2023-24 and is repayable in 20 quarterly installments at the rate of H450.00 lakhs each
quarter from the financial year 2024-25 to 2029-30 (i.e., from July 2024 to June 2029).The current rate of interest is 8.70%
p.a(2025-9.05%p.a). This loan is secured by first mortgage and charge in favour of the Bank on all the Company’s fixed assets
both present and future and second charge on the current assets of the Company on pari passu basis with other lenders. The
amount outstanding as at balance sheet date is H5,399.95 lakhs (2025- H7,199.95 lakhs) repayable in 12 quarterly installments
(out of which H1,800.00 lakhs (2025- H1,800.00 lakhs) are included in Borrowings (current)).

(ii) Loans from others include interest free loans of H5,760.37 lakhs availed (H814.44 lakhs in 2016-17, H973.03 lakhs in 2017-18, H2,125.12
lakhs in 2019-20, H731.61 lakhs in 2022-23 , H81.29 lakhs in 2023-24 and H1034.88 lakhs in 2024-25 ) from The Pradeshiya Industrial
& Investment Corporation of U.P Ltd (PIC UP) for the cement asbestos unit at Raebareli, U.P which is sanctioned under the Industrial
Investment Promotion Scheme, 2003. The loan is secured by first charge on all assets of the Company both present and future, by
way of first pari-passu charge with all the secured lenders of the Company and personal guarantee of Mrs. G Saroja Vivekanand,
Managing director of the Company. The loans are repayable (each installment drawn) after 10 years from the date of disbursement.
As per Ind AS requirements, these loans have been recognised at fair value and the difference between fair value and transaction
value is recognised as Deferred Revenue Grant.

(iii) There are no borrowings from banks and financial institutions not used for specific purpose for which it was taken as at balance sheet
date. The company has complied with relevant covenants.

20.1 Working capital loans from banks are loans from State Bank of India. The loans are repayable on demand which are secured on
pari-passu basis by hypothecation of the Company's entire current assets including raw materials, work-in-progress, stores
& spares, finished goods and book debts, present and future, and second charge by way of hypothecation on all fixed assets
present and future. Working capital demand loan carries interest rate of 750% to 8.00% p.a (2025- 750% to 7.70%p.a) and cash
credit carries interest of 915% p.a(2025-9.40%p.a).

20.2 Short term loans include

- Loan from HDFC amounting to H3,000.00 lakhs (2025- H5,000.00 Lakhs) at an interest rate of 7.25% to 8.00% p.a
(2025-752% to 8.00% p.a).

- Loan from ICICI amounting to H Nil lakhs (2025- H3,000.00 Lakhs) at an interest rate of 7.92% to 815% p.a(2025-8.00% to
8.65% p.a).

- Standby letter of credit availed from various banks at an rate of interest ranging from 4.50% to 5.50% p.a(2025-6.00% to
6.50% p.a). The balance outstanding as at year end comprise of credit availed from :

(A) HDFC amounting to HNil lakhs (2025- H2,558.03 Lakhs)

(B) SBI amounting to H1,557.46 Lakhs (2025- H1,818.36lakhs)

- Credit card facility availed from HDFC bank amounting to H495.53 Lakhs(2025- H976.88lakhs)

20.3 Public deposits represent deposits accepted from public carrying interest varying from 9.5% to 11.5% p.a. The maturity of these
deposits fall on different dates depending on the date of each deposit. There are no deposits matured and remaining unpaid as
on the balance sheet date.

20.4 Inter corporate deposit includes loan from Vigilance Security Services Private Limited at an interest rate of 8.00% p.a for the
purpose of short term business requirement which is repayable on demand (Refer note 40) .

24. Provisions (contd.)

(ii) Defined contribution plans

The Company has defined contribution plans namely provident fund, super annuation fund and employee state insurance
corporation (ESI). Contributions are made to provident fund at the rate of 12% of basic salary as per regulations. The contributions
are made to registered provident fund administered by the Government. The Company has created an approved superannuation
fund and accounts for the contribution made to LIC of India against an insurance policy taken with them. Contributions are made to
state insurance scheme for employees at the rate of 3.25%. The contributions are made to employee state Insurance corporation
(ESI), a corporation administered by the government. The obligation of the Company is limited to the amount contributed and it has
no further contractual nor any constructive obligation. The expense recognised during the year towards defined contributions plans
is as follows:

(iii) Post- employment obligations
Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous
service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last
drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service. The gratuity
plan is a funded plan and the Company makes contributions to LIC of India. The present value of obligation is determined based on
actuarial valuation using the Projected Unit Credit Method, which recognises each period of service giving rise to additional unit of
employee benefit entitlement and measures each unit separately to build up the final obligation.

v) Risk exposure

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed below:
Interest rate risk:

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined benefit
obligation will tend to increase.

Salary inflation risk:

Higher than expected increases in salary will increase the defined benefit obligation.

Demographic risk:

This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability and
retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the
combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial
analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

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

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

Management uses its best judgement in estimating the fair value of its financial instruments. However, there are inherent
limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented
above are not necessarily indicative of the amounts that the Company could have realized or paid in sale transactions as of
respective dates. As such, the fair value of financial instruments subsequent to the reporting dates may be different from the
amounts reported at each reporting date.

The Company is exposed to market risk (fluctuation in foreign currency exchange rates, price and interest rate), liquidity risk and
credit risk. The Company assesses the unpredictability of the financial environment and seeks to mitigate potential adverse effects
on the financial performance of the Company

(A) 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 market
prices. Market risk comprises of currency risk, interest rate risk and price risk. Financial instruments affected by market risk
include loans and borrowings, trade receivables and trade payables involving foreign currency exposure. The sensitivity analysis
in the following sections relate to the position as at 31 March 2026 and 31 March 2025.

The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is based on
the financial assets and financial liabilities held at 31 March 2026 and 31 March 2025.

(i) Foreign currency exchange rate risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the
trade/ other payables, trade/other receivables The risks primarily relate to fluctuations in US Dollar and Euro against the
functional currencies of the Company The Company’s exposure to foreign currency changes for all other currencies is not
material. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange
rate risks.

The following tables demonstrate the sensitivity to a reasonably possible change in US dollars and Euros exchange rate,
with all other variables held constant. The impact on the Company’s profit before tax is due to changes in the fair value of
monetary assets and liabilities.

(ii) Sensitivity

The sensitivity of profit or loss to changes in the exchange rates arises mainly from foreign currency denominated
financial instruments:

(iii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of change
in market interest rates. 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. As the Company has certain debt obligations with floating
interest rates, exposure to the risk of changes in market interest rates are dependent of changes in market interest rates.
Management monitors the movement in interest rate and, wherever possible, reacts to material movements in such rates
by restructuring its financing arrangement.

As the Company has no significant floating interest bearing assets, the income and operating cash flows are substantially
independent of changes in market interest rates.

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans
and borrowings affected. With all other variables held constant, the Company’s profit before tax is affected through the
impact on floating rate borrowings, as follows:

(B) Credit Risk

Credit risk is the risk arising from credit exposure to customers, cash and cash equivalents held with banks and current and non¬
current held-to maturity financial assets.

With respect to credit exposure from customers, the Company has a procedure in place aiming to minimise collection losses.
Credit Control team assesses the credit quality of the customers, their financial position, past experience in payments and other
relevant factors. Cash and other collaterals are obtained from customers when considered necessary under the circumstances.

The carrying amount of trade receivables, loans, advances, deposits, cash and bank balances, bank deposits and interest
receivable on deposits represents Company’s maximum exposure to the credit risk. No other financial asset carry a significant
exposure with respect to the credit risk. Bank deposits and cash balances are placed with reputable banks and deposits are
with reputable government, public bodies and others.

The credit quality of financial assets is satisfactory, taking into account the allowance for credit losses.

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
management also considers the factors that may influence the credit risk of its customer base, including default risk associate
with the industry and country in which customers operate. Credit quality of a customer is assessed based on an extensive credit
rating scorecard and individual credit limits are defined in accordance with this assessment.

An impairment analysis is performed at each reporting date on an individual basis for major receivables. In addition, a large
number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum
exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company also holds
deposits as security from certain customers to mitigate credit risk.

i. Credit risk on cash and cash equivalents, deposits with banks and other bank balances is limited as the Company generally
invest in deposits with banks with high credit ratings assigned by external agencies.

ii. The Company follows “simplified approach” for recognition of impairment of loss allowance on trade receivable.

(iii) Significant estimates and judgements
Impairment of financial assets:

The impairment provisions for financial assets disclosed above are based on assumptions about risk of default and
expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment
calculation, based on the Company’s past history existing market conditions as well as forward looking estimates at the
end of each reporting period.

(C) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding to meet obligations when
due and to close out market positions. Company’s treasury maintains flexibility in funding by maintaining availability under
deposits in banks.

Management monitors cash and cash equivalents on the basis of expected cash flows.

37. Segment information

The Company’s Managing Director and Joint Managing Director examines the Company’s performance from a product perspective
and has identified two reportable segments namely Building products and Synthetic Yarn.

Segment revenue and expenses:

The Company has an established basis of allocating Joint/Corporate expenses to the segments, which is reasonable, and followed
consistently. All other segment revenue and expenses are attributable to the segments. Certain Expenses/Income are not
specifically allocable to specific segments and accordingly these expenses are disclosed as unallocated expenses or income and
adjusted only against the total income of the Company Segment result includes the respective other income.

Segment assets and liabilities:

Segment assets include all operating assets used by a segment and consist principally of operating cash, debtors, inventories and
fixed assets, net of allowances and provisions that are reported as direct offsets in the balance sheet. While most assets can be
directly attributed to individual segments, the carrying amount of certain assets used jointly by two or more segments is allocated to
the segments on a reasonable basis. In such cases, the entire revenue and expenses of these assets including depreciation are also
allocated to the same segments. Segment liabilities include all operating liabilities and consist principally of creditors and accrued
liabilities. Assets which are not allocable to the segments have been disclosed as 'unallocated assets’. Liabilities which are not
allocable to the segments have been disclosed as 'unallocated liabilities’.

45. Title deeds of immovable properties

The title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease agreements
are duly executed in the favour of the lessee), as disclosed in note 4.1 & 4.2 to the standalone financial statements, are held in the
name of the Company.

46. Valuation of Property Plant & Equipment, intangible asset

The Company has not revalued its property, plant and equipment including Right-of-Use Asset or intangible assets or both during
the current or previous year

47. Loans or advances to specified persons

No loans or advances in the nature of loans which is outstanding as at balance sheet date are granted to promoters, directors, KMPs
and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are repayable
on demand or without specifying any terms or period of repayment except as stated below:

48. Details of benami property held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Prohibition of
Benami Property Transactions Act, 1988 (as amended in 2016) (formerly the Benami Transactions (Prohibition) Act, 1988 (45 of
1988)) and rules made thereunder

49. Borrowing secured against current assets

The Company has borrowings from banks and financial institutions on the basis of security of current assets. The company has filed
quarterly returns or statements with such banks and the differences between those returns or statements with the audited books of
accounts were trivial.

50. Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender

51. Relationship with struck off companies

The Company has no transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of
the Companies Act, 1956.

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

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

53. Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Section 2(87) of the Companies Act, 2013 read with
Companies (Restriction on number of layers) Rules, 2017.

54. Compliance with approved scheme(s) of arrangements

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

55. Utilisation of borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind
of funds) by the Company to or in any other person or entity including foreign entities (“Intermediaries”) with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company
(Ultimate Beneficiaries). The Company has not received any fund from any party(Funding Party) with the understanding that the
Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

56. Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income
Tax Act, 1961, that has not been recorded previously in the books of account.

57. Details of crypto currency or virtual currency

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year

58. Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the Company from banks and financial institutions have been applied for the purposes for which such
loans were taken.

59 The Company has sold land in Ahmedabad, Gujarat, during the June 2025 quarter and also land and building sold in Kanchipuram,
Tamil Nadu, during the March 2026 quarter. The profits from sale of these assets, amounting to H3,674.30 lakhs and H2,296.03 lakhs
respectively, have been presented as exceptional items in the statement of profit and loss.

60 On 21 November 2025, the Government of India notified four labour codes—the Code on Wages, 2019; the Industrial Relations Code,
2020; the Code on Social Security,2020; and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively,
the “Labour Codes”)—which consolidate twenty nine existing labour laws into a comprehensive framework governing employee
benefits during and after employment. The Ministry of Labour and Employment has also issued draft Central Rules and FAQs
to facilitate assessment of the financial implications of these changes. Based on management’s evaluation, and considering the
guidance issued by the Institute of Chartered Accountants of India, the Company has concluded that the estimated impact on
its existing obligations is not material. The Company will continue to monitor the finalisation of central and state rules and further
governmental clarifications, and will recognise any necessary accounting impact arising from such developments in due course.