l. Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised when there is a present legal or constructive obligation as a result of a past event and it is
probable (i.e. more likely than not) 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. Such provisions are determined based
on management estimate of the amount required to settle the obligation at the balance sheet date. When the Company
expects some or all of a provision to be reimbursed, the reimbursement is recognised as a standalone asset only when the
reimbursement is virtually certain.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, 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.

Present obligations arising under onerous contracts are recognised and measured as provisions. An onerous contract is
considered to exist when a contract under which the unavoidable costs of meeting the obligations exceed the economic
benefits expected to be received from it. Unavoidable cost is determined based on cost that are directly attributable to
having and executing the contracts.

Contingent liabilities may arise from the ordinary course of business about claims against the Company, including legal,
contractor, land access and other claims. By their nature, contingencies will be resolved only when one or more uncertain
future events occur or fail to occur. The assessment of the existence, and potential quantum, of contingencies inherently
involves the exercise of significant judgments and the use of estimates regarding the outcome of future events. These are
reviewed at each balance sheet date and are adjusted to reflect the current management estimate.

Contingent Assets are not recognised, however disclosed in Financial Statement when inflow of economic benefits is
probable. However, when the realisation of income is virtually certain, then the related asset is no longer a contingent asset
but is recognised as an asset.

m. Segment reporting

Operating segments are those components of the business whose operating results are regularly reviewed by the chief
operating decision making body in the company to make decisions for performance assessment and resource allocation.
The reporting of segment information is the same as provided to the management for the performance assessment and
resource allocation to the segments.

The accounting policies adopted for segment reporting are in line with the accounting policies of the Company.

Inter-segment revenue is accounted for based on transactions which are primarily determined based on market / fair value
factors.

Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to segments on a
reasonable basis have been included under "unallocated revenue/expenses/assets/liabilities”.

n. Earnings per share

In determining the earnings per share, the Company considers the net profit/(loss) after tax and the post-tax effect of
any extraordinary/exceptional item is shown separately. The number of shares considered in computing basic earnings
per share is the weighted average number of shares outstanding during the year. The number of shares considered for
computing diluted earnings per share comprises the weighted average number of shares used for deriving the basic
earnings per share and also the weighted average number of equity shares that could have been issued on the conversion
of all dilutive potential equity shares as may be applicable. The number of shares and potentially dilutive equity shares are
adjusted for any stock splits and bonus shares issues.

o. Cash flow statement

Statement of Cash Flows is prepared to segregate the cash flows into operating, investing and financing activities. Cash
flow from operating activities is reported using an indirect method, prescribed in the relevant IND AS adjusting the net
profit / (Loss) for the effects of:

i. Changes during the period in inventories and operating receivables and payables transactions of a non-cash nature;

ii. Non-cash items such as depreciation, provisions, deferred taxes, unrealized foreign currency gains and losses

iii. All other items for which the cash effects are investing or financing cash flows.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, cheques
and drafts on hand, deposits held with Banks

Recent accounting pronouncements:

The Ministry of corporate Affairs ("MCA”) notified amendments on 7th May 2025 and 13 th August 2025 under the Companies
(Indian Accounting Standards) Amendment Rules, 2025 and the Companies (Indian Accounting Standards) Second Amendment
Rules, 2025, respectively, which is effective from annual reporting periods beginning on or after 1st April 2025.

(a) Amendment to Ind AS 7 and Ind AS 107 - Supplier Finance Arrangement: The amendments to Ind AS 7 'Statement of
Cash Flows' and Ind AS 107 'Financial Instruments: Disclosures' clarify the characteristics of supplier finance arrangements
and require additional disclosures for 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 supplier finance arrangements during the financial year have been suitably
disclosed.

(b) Amendment to Ind AS 1 - Classification of liabilities as current or non-current and non-current liabilities with
covenants: The amendment specifies the requirements for classifying liabilities as current or non-current in the balance
sheet, and clarifies the following:

i) An entity's right to defer settlement of a liability for at least twelve months after the reporting period must have
substance and must exist at the end of the reporting period. The classification of a liability as current or noncurrent
is unaffected by the likelihood that the entity will exercise its right to defer settlement.

ii) If an entity's right to defer settlement of a liability is subject to covenants, such covenants affect whether that right
exists at the end of the reporting period only if the entity is required to comply with the covenant on or before the end
of the reporting period.

iii) In case of a liability that can be settled, at the option of the counterparty, by the transfer of the entity's own equity
instruments, such settlement terms do not affect the classification of the liability as current or non-current only if
the option is classified as an equity instrument.

These amendments have no effect on the measurement of any items in the financial statements of the Company. The
Company do not make retrospective adjustments as a result of adopting the amendments to Ind AS 1.

(c) Amendment to Ind AS 12 - Pillar-Two Tax Reforms The Company is within the scope of the OECD Pillar Two Model Rules.
Based on the current assessment, no material exposure to Pillar-Two Top-up taxes is envisaged. This assessment is based
on currently available information and interpretations of the Pillar Two Rules which are evolving. The Company continues to
monitor development in tax legislations and guidance across relevant jurisdictions and the actual impact, if any, may differ
in future periods.

(d) Amendment to Ind AS 21- Lack of exchangeability The Amendments introduces requirement to assess when a currency is
exchangeable into another currency and when it is not. The amendment requires an entity to estimate the spot exchange
rate when it concludes that a currency is not exchangeable into another currency. These amendments had no effect on the
financial statements of the Company.

Note (a) Capital Reserve is created on account of amalgamation of Particle Boards India Limited with the Company pursuant to the
Scheme of Amalgamation in the financial year 2010-11 & unexercised share warrants in the financial year 2019-20.

Note (b) Share Premium Account is used to record the premium on issue of shares. The reserve is utilised in accordance with the
provisions of the Companies Act, 2013.

Note (c) Capital Redemption Reserve is created on account of redemption of preference shares. The preference shares were redeemed
in the financial years 2003-04.

Note (d) General Reserve is created from time to time by way of transfer of profits from retained earnings. General reserve is created by
a transfer from one component of equity to another.

Note (e) The Board of Directors of the Company in their meeting held on 13 th August, 2024, after obtaining the approval of the
Nomination & Remuneration Committee, approved the grant of 9,88,000 Stock options to its employees at an exercise price of Rs 25
per option which are convertible into equal number of equity shares of the Company and has obtained a fair valuation report for its
Employee Stock Option Plan (ESOP) from a registered valuer in accordance with applicable provisions of the Companies Act, 2013 and
the relevant accounting standards. Based on such valuation report, the fair value of the stock options granted has been determined at
Rs 113.76 (using Black Scholes method) and the Company has accordingly recognised the required provision in books.

Note (f) During F.Y. 2024-25, Company issued 2,34,10,000 Convertible Warrants (the "Warrants”) at an issue price of Rs. 92.25 per
warrant to Promoter Mr Vivek Talwarkar, entitling the Warrant Holder to apply for and get allotted one Equity Share of the face value of
Rs. 10/- each fully paid-up at a premium of Rs. 82.25 against each Warrant within a period of 18 months from the date of allotment of
Warrants. Total Amount Equal to Rs. 5398.93 lakhs, equivalent to 25% of the consideration of total the Warrants issued, was received
by the company before allotment of the Warrants and the balance consideration i.e. 75% is payable at the time when conversion option
against the share warrant will be excersised. During the year, the company has received Rs. 7887.37 Lakhs, representing the balance
75% of the issue price for 1,14,00,000 convertible share warrants.

16. Other equity ( Contd.)

Note (g) Retained earnings/ (losses) represents cumulative profit/ (loss) of the Company. The reserve can be utilised in accordance with
the provision of the Companies Act, 2013.

Note (h) Gains / Losses arising on Remeasurements of Defined Benefit Plans are recognised in the Other Comprehensive Income as per
IND AS-19 and shall not be reclassified to the Statement of Profit or Loss in the subsequent years.

I. Disclosure with respect to related party transactions is given in note 34.

II. Micro and small enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 have been determined based
on the information available with the Company

III. Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of
information collected by the Management.

1) . The Company had entered into a Joint Development Agreement ('JDA') with the Developer for the plotted development of the land,

under which the consideration is variable and linked to entering of joint development agreements and the sale of plots. Pursuant
to the JDA, the Company had recognised income of Rs. 5,842.00 Lakhs, representing an Interest Free Adjustable Advance ('IFAA')
towards signing of the joint development agreement

2) . The management determines that the segment information reported is sufficient to meet the disclosure objective with respect

to disaggregation of revenue under Ind AS 115 Revenue from contract with Customers. Hence, no separate disclosures of
disaggregated revenues are reported. (Refer Note 36)

32. Exceptional items

A) A) During the year, the company has assessed the financial implications of the changes to the employee benefit plans arising from
legislative amendments referred to as the "new labour code”. Basis that and the relevant requirements under the Indian Accounting
Standard, the company has estimated one-time increase in gratuity and leave liability arising out of past service cost amounting to
Rs. 400.13 Lakhs.

B) During the previous financial year, the Company had presented a revised offer to Life Insurance Corporation ("LIC”) for one time
settlement of its entire dues, which was approved by LIC on October 15, 2024. The company has paid the agreed amount and
subsequently received No Due Certificate from LIC.

New Vardhman Vitrified Pvt. Ltd. ("NVVPL”), previously a subsidiary of the Company, ceased to be subsidiary with effect from 10th
December, 2020. However, due to pending NOC from LIC, the share transfer had not been effected and accordingly, the assets and
liabilities of NVVPL were classified as "Assets Held for Sale” in the Statement of Asset and Liabilities. As the company has received
the No Due Certificate from LIC dated 30.10.2024, the requirement of NOC from LIC is no longer applicable.

Necessary adjustments for the One Time Settlement with LIC has been made in the books of accounts on September 30, 2024 and
recognised a gain of Rs. 855.39 Lakhs and disclosed the same as an exceptional item in the results. Additionally, the sale of NVVPL
shares has been accounted for in the books as of September 30, 2024 and recognised a gain of Rs. 275.00 lakhs as per exceptional
item in the results.

C) In accordance with the terms of restructuring agreement dated October 22, 2024, between The Company and AIIL in which the
outstanding debt was reinstated to Rs. 2,87,581.07 lakhs as of Ocotber, 2024. Subsequently, The Company has recognized an
exceptional loss of Rs. 47,314.91 Lakhs in its financial statements to reflect the adjustment in the loan amount in fy 2024-25.

35. Employee benefit plans

a) Defined Contribution Plans

Retirement benefits in the form of provident fund, superannuation fund and national pension scheme are defined contribution
schemes. The Company's contribution to the provident fund, superannuation fund and national pension scheme is Rs. 216.70
Lakhs for the year ended 31st March 2026 (31st March 2025 Rs. 191.25 Lakhs) [Refer Note 28]

b) Defined benefit Plan

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides
for lump sum payment to vested employees at retirement, death while in employment or on termination of the employment of
an amount equivalent to 15 days payable for each completed year of service or part thereof in excess of six months in terms of
Gratuity scheme of Company or as per payment of the Gratuity Act, whichever is higher. Vesting occurs upon completion of five
years of service. The Gratuity plan for the Company is a defined benefit scheme where annual contributions are deposited to an
insurer to provide gratuity benefits by taking a scheme of Insurance, whereby these contributions are transferred to the insurer.
The Company makes provision of such gratuity asset/liability in the books of accounts on the basis of actuarial valuation as per
the projected unit credit method. Plan assets also include investments and bank balances used to deposit premiums until due to
the insurance company.

The actuarial valuation of plan assets and the present value of defined benefit obligation were carried out at March 31,2026 by
the certified actuarial valuer. The present value of the defined benefit obligation, related current service cost and past service cost
were measured.

36. Disclosure pursuant to Ind AS 108 “Operating Segment

The Company's operating segments are established on the basis of those components of the Company that are evaluated regularly by
the Executive Committee (the 'Chief Operating Decision Maker' as defined in Ind AS 108 - 'Operating Segments'), in deciding how to
allocate resources and in assessing performance. These have been identified taking into account nature of products and services, the
differing risks and returns and the internal business reporting systems.

The Company has two principal operating and reporting segments; viz. Tiles and related products and Real Estate.

The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional
policies for segment reporting.

a. Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment.
Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been
disclosed as "Unallocable”.

b. Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Investments, tax related
assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as
"Unallocable”.

* The Board of Directors of the Company in their meeting held on August 13, 2024, after obtaining the approval of the Nomination &
Remuneration Committee, approved the grant of 9,88,000 Stock options to its employees which are convertible into equal number of
equity shares of the Company. 50% of Options will vest at the end of 1 year from the date of grant and balance 50% at the end of 2 years
from the date of grant. The said options have been granted by the Board of Directors of the Company subject to requisite approvals.
Pending such approvals was happened in the current financials, the same have been accounted for in the books of accounts of the
Company.

The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted. The fair
values of options granted were determined using Black-Scholes option pricing model that takes into account factors specific to the
share incentive plans. Expected volatility has been determined by reference to the average volatility for comparable companies for
corresponding option term.

38. Commitments & Contingencies

(a) Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) as 31 March
2026 are Rs.110.49 Lakhs (31 March 2025 - Rs.38.21 Lakhs).

i. It is not practicable to estimate the timing of cash outflows, if any, in respect of matters at (a) to (d) above pending resolution
of the arbitration/appellate proceedings.

ii. The Additional Director General Foreign Trade (ADGFT) had levied penalty of Rs. 17,000.00 lakhs for irregular / non fulfilment
of export obligation and the same has been confirmed by the Appellate Bench of DGFT, New Delhi. The company has been
advised that the order is bad in law and accordingly has agitated the matter before the appropriate forum. No provision has
been made in the Accounts for the same.

39. Restructuring and Settlement

During the previous year, the Company entered into a restructuring and settlement arrangement with Authum Investment &
Infrastructure Limited ("AIIL”) in respect of debt obligations that were earlier subject to proceedings before the Hon'ble National
Company Law Tribunal ("NCLT”) and other recovery forums. Pursuant to the restructuring arrangement, the Company repaid its
sustainable debt, converted a substantial portion of its debt into equity and raised additional funds through preferential allotment of
equity shares and convertible warrants to promoters and third-party investors. These transactions resulted in significant changes to
the Company's capital structure and an exceptional loss recognised during the previous year.

During the year ended 31 March 2026, the Company has shown improvement in its operational performance, which has been supported
by the working capital and funds infused pursuant to the restructuring undertaken in the previous year. The Company has also met
all its obligations as and when they became due and has also secured an additional Working Capital and Invoice Discounting-cum-
Loan Facility from AIIL for FY 2026-27. Further, the benefits arising from the debt restructuring and capital infusion undertaken in the
previous year continue to support the Company's liquidity position and have substantially reduced its future debt servicing obligations.

Based on the above factors and management's assessment of the Company's future business plans and cash flows, management
believes that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly,
these standalone financial statements have been prepared on a going concern basis and no material uncertainty exists that may cast
significant doubt on the Company's ability to continue as a going concern.

40. Capital Management

Capital of the Company, for the purpose of capital management, include issued equity capital, securities premium and all other equity
reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to maximise
shareholders value.

The funding requirement is met through a mixture of equity, internal accruals, long term borrowings and short-term borrowings. The
Company monitors capital using gearing ratio, which is debt divided by total capital plus debt.

41. Financial instruments

The fair value of financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current
transaction between the willing parties, other than in a forced or liquidation sale.

The following methods and assumptions have been used to estimate the fair values:

Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilities, short term
loans from banks and other financial institutions approximate their carrying amounts largely due to the short term maturities of these
instruments

Financial Instruments with fixed and variable interest rates are evaluated by the Company based on parameters such as interest rate
and individual credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for the expected losses
of these receivables.

Fair value hierarchy

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

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

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

There is no fair valuation of financial instruments.

42. Financial risk management objectives

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange
rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk
sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowings.

The Company's principal financial liabilities comprise of loan from banks and financial institutions, finance lease obligations and trade
payables. The main purpose of these financial liabilities is to raise finance for the Company's operations. The Company has various
financial assets such as trade receivables, cash and short term deposits, which arise directly from its operations.

The main risks arising from Company's financial instruments are foreign currency risk, interest rate risk, credit risk and liquidity risk. The
Board of Directors review and agree policies for managing each of these risks.

i. Foreign currency risk:

The Company does not have material revenue from overseas operations. However, the entity makes imports of Raw material
and capital goods. Further the Company holds monetary assets in the form of investments in currency other than its functional
currency i.e. Indian Rupee. Foreign currency risk, as defined in Ind AS 107, arises as the value of future transactions, recognised
monetary assets and monetary liabilities denominated in other currencies fluctuate due to changes in foreign exchange rates.

While the company has direct exposure to foreign exchange rate changes on the price of non-Indian Rupee-denominated
securities and borrowings. For that reason, the below sensitivity analysis may not necessarily indicate the total effect on the
Company's net assets attributable to holders of equity shares of future movements in foreign exchange rates. The above risks
may affect the Company's income and expenses, or the value of its financial instruments. The objective of the Company's
management of market risk is to maintain this risk within acceptable parameters, while optimising returns. The following tables
demonstrate the sensitivity to a reasonably possible change in foreign exchange rates, with all other variables held constant.

The Company is exposed to interest rate risk because the Company borrows funds at both fixed and floating interest rates. Interest
rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in
fair values of fixed interest bearing investments because of fluctuations in the interest rates, in cases where the borrowings are
measured at fair value through Statement of Profit and Loss. Cash flow interest rate risk is the risk that the future cash flows of
floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

Exposure to Interest Rate Risk

Interest rate risk of the Company arises from borrowings. The Company endeavour to adopt a policy of ensuring that maximum of
its interest rate risk exposure is at fixed rate. The Company's interest-bearing financial instruments are reported as below:

The sensitivity analysis below have been determined based on the exposure to interest rates for non-derivative instruments at the
end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding
at the end of the reporting period was outstanding for the whole year.

A 50 basis point increase or decrease is used for the purpose of sensitivity analysis.

If interest rates had been 50 basis points higher/lower and all other variables were held constant, the Company's profit/(loss)
before tax for the year ended March 31, 2026 would decrease/increase by NIL (for the year ended March 31, 2025: decrease/
increase by NIL)

iii. Credit risk

The Company directly reduces the gross carrying amount of a financial asset when the Company has no reasonable expectations
of recovering a financial asset in its entirety or a portion thereof. The amounts of financial assets are net of an allowance for
doubtful accounts, estimated by the Company and based, in part, on the age of specific receivable balance and the current and
expected collection trends. As such, in addition to the age of its Financial Assets, the Company also considers the age of its orders
in progress, as well as the existence of any deferred revenue or down payments on orders on the same project or with the same
client. The Company has used practical expedient by computing expected credit loss allowance for trade receivable by taking into
consideration historical credit loss experience and adjusted for forward looking information. The Company is still pursuing the
recovery for the receivable for which allowance made for bad and doubtful debts.

In addition the Company is exposed to credit risk in relation to the maximum related party credit exposure at March 31, 2026
on account of carrying amount of loans /advances /deposit, trade and other receivables and guarantees is disclosed in note 34
on related party transactions. Based on the creditworthiness of the related parties, financial strength of related parties and its
parents and past history of recoveries from them, the credit risk is mitigated. Credit risk relating to unrelating parties is minimised
as the Company deals only with reputed parties.

Cash and cash equivalents are held with reputable and credit-worthy banks.

iv. Liquidity risk

Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has built an appropriate liquidity risk
management framework for the management of the Company's short, medium and long-term funding and liquidity management
requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities by continuously
monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

Liquidity table:

The following tables detail the Company's remaining contractual maturity for its financial liabilities. The tables have been drawn
up based on the cash flows of financial liabilities based on the earliest date on which the Company can be required to pay:

Current Ratio : Improvement on account of Inventory and debtor against raising sale.

Debt Equity Ratio: Improvement on account of increase in Shareholder's equity and profit of year.

Debt Service Coverage Ratio: Improvement on account of profit recognised in the Currentr Year

Trade Receivables Turnover Ratio: Deterioration on account of slow recovery from real estate trade receivables.

Trade Payables Turnover Ratio: Improvement is on account of payment of Trade Creditors.

Net Capital Turnover Ratio: Improvement on account of positive impact on current year sale.

* Not Applicable ("NA”) as company has incurred losses in current & previous financial year.

44. Balance confirmation

Balances of Trade Receivables, Trade Payables, loans and advances, deposits, Borrowings are subject to confirmation and reconciliation.
Accounts receivables are net of advances.

45. Additional regulatory information required by Schedule III of Companies Act, 2013

I. Utilisation of Borrowed funds and share premium:

A) During the year the Company has 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.

During the year 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

B) The Company has granted any loans or advances in the nature of loans repayable to subsidiaries on demand during the year
with three years term. However, the company has given loan to Nitco Realties Private Limited ("NRPL”) without specifying
any terms or period of repayment in earlier years. The total balance as at the year-end of such loans are as under

II. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

III. The Company has not been declared wilful defaulter by any bank or financial institution or other lender in accordance with the
guidelines on wilful defaulters issued by the Reserve Bank of India.

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

V. The Company has not recorded any transactions which are not in the books of accounts and has been surrendered or disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961

VI. The Company has not traded or invested in Crypto currency or Virtual Currency during the current and previous financial year.

VII. The Company has not entered into any scheme of arrangement which has an accounting impact on current and previous year.

VIII. During the year no funds raised on short-term basis have been used for long-term purposes by the Company.

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

X. There are no charges or satisfactions which are yet to be registered with the Registrar of Companies beyond the statutory
period.

48. Lease

I. As a Lessee

(a) Lease liability at the present value of the remaining lease payments, discounted using the lessee's incremental borrowing
rate for lease as on 31st March, 2026.

(b) Right-of-use asset at an amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease
payments relating to that lease recognised in the balance sheet

(c) Practical expedients applied :

Company has used the practical expedients permitted by the standard:

* applying a single discount rate to a portfolio of leases with reasonably similar characteristics

* accounting for operating leases with a remaining lease term of less than 12 months or with minimal rent payments as
short-term leases

* In case of Leases which are having no lock in period or lease are cancellable with short notice by either party or lessee are
not treated as lease for the purpose of IND AS 116.

(d) The weighted average lessee's interest implicit in the lease has been applied to the lease liabilities was 12% pa with maturity
between 2025-30.

(e) The table below describes the nature of the Company's leasing activities by type of right-of-use asset recognised on
balance sheet:

49. No provision for Deferred Tax has been made in the books due to accumulated loss

50. The financial statements are approved for issue by the Audit Committee and the Board of Directors at their respective meetings
conducted on 13 th May, 2026