Terms and Rights attached to Equity Shares

The Company is having only one class of Equity shares having a nominal value of ' 10/- per share.Every holder of the equity share of the Company is entitled to one vote per share held. In the event of liquidation of the Company, the equity shareholders will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution to the Equity shareholders will be in proportion of the number of shares held by each shareholder.

(a) (i) Car Loan from a bank/Financial Institotions

Loans against vehicles are for a period of three to five years and repayable by way of equated monthly installment, Interest rate ranges from 8.15% to 9.00%. Secured against hypothecation of Vehicles. Out of total outstanding Car loan as on 31^st March, 2026 of ' 0.00 Lakhs (Previous Year: ' 0.17 lakhs), Car Loan as on 31^st March 2026 of ' 25.59 Lakhs (Previous Year ' 37.00). Repayable in 36 EMI's commencing from 30.04.2025. Rate of interest is 8.15%.

(a) (ii) Project Loan from bank

i) Sanctioned Term Loan - ' 700.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 29.08 Lakhs (Previous Year ' 196.41 Lakhs). Repayable in 60 EMI's commencing from Jun-2021. Rate of interest is 9.50%.

Secured against mortgage of all the fixed assets of the Company, both present and future, situated at Roha.

ii) Sanctioned Term Loan - ' 1500.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 0.00 Lakhs (Previous Year ' 75.00 Lakhs). Repayable in 60 EMI's commencing from 15.07.2020. Rate of interest is 9.50%.

Secured against mortgage of all the fixed assets of the Company, both present and future, situated at Dahej.

iii) Sanctioned Term Loan - ' 1875.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 491.93 Lakhs (previous Year ' 876.24 Lakhs). Repayable in 60 EMI's commencing from 30.04.2022. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Dahej.

iv) Sanctioned Term Loan - ' 600.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 293.88 Lakhs (Previous Year ' 406.06 Lakhs). Repayable in 60 EMI's commencing from 30.04.2022. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Dahej.

v) Sanctioned Term Loan - ' 2625.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 741.89 Lakhs (Previous Year ' 1273.00 Lakhs). Repayable in 60 EMI's commencing from 31.05.2022. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

vi) Sanctioned Term Loan - ' 790.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 382.35 Lakhs. (Prvious Year ' 540.15 Lakhs). Repayable in 60 EMI's commencing from 10-09-2023. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

vii) Sanctioned Term Loan - ' 1330.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 90.96 Lakhs (Previous Year ' 454.80 Lakhs). Repayable in 60 EMI's commencing from 09.06.2023. Rate of interest is 9.30%.

Secured against mortgage of land and building of the Company, both present and future, situated at Dahej.

viii) Sanctioned Term Loan - ' 475.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 137.00 Lakhs (Previous Year ' 293.00 Lakhs). Repayable in 60 EMI's commencing from 24.02.2024. Rate of interest is 9.25%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

ix) Sanctioned Term Loan - ' 1750.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 1402.00 Lakhs (Previous Year ' 1000.00 Lakhs). Repayable in 60 EMI's commencing from 31.03.2025. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

x) Sanctioned Term Loan - ' 250.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 200.09 Lakhs (Previous Year ' 250.00 Lakhs). Repayable in 60 EMI's commencing from 30.04.2025. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

xi) Sanctioned Term Loan - ' 1000.00 Lakhs. Current Outstanding as on 31^st March, 2026 is ' 922.08 Lakhs (Previous Year ' 0.00 Lakhs). Repayable in 36 EMI's commencing from 20.01.2026. Rate of interest is 9.50%.

Secured against mortgage of land and building of the Company, both present and future, situated at Roha.

Out of total outstanding term loan as on 31^st March, 2026 of ' 4716.85 Lakhs (PY: ' 5401.83 Lakhs), amount due in next twelve months is ' 2371.42 Lakhs (PY: ' 2470.76 Lakhs), which is shown as 'Current maturities of Long Term Debts' under 'Other Current Liabilities' (See Note No. 21 (1)(iii)).

20.1 Payment towards trade is made as per the terms and condition of the contract/purchase order. Average Credit period is 30-90 days.

20.2 Information as required to be furnished under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) for the year ended March 31^st, 2026 is given below. The information has been determined to the extent such parties have been identified by the Company on the basis of the information available with the Company and the Auditors have relied on the same.

The Company has reviewed all its pending litigations & proceedings and has adequately provided for where provisions are required and disclosed the contingent liabilities where applicable. The Company does not expect the outcome of these proceedings to have materially adverse effect.

The Company has received Differential Duty demand of ' 14.33 Crores (on Import of crude/un-refined Sulphur during the period 2004-2005 to 2008-2009, provisionally assessed then), at concessional rate of Basic Customs Duty in term of Entry at Sr. No. 60 of Notification No. 21/2002- Cus dated 01.03.2002 which granted concessional rate of basic customs duty on the import of "Crude or unrefined Sulphur” falling under Chapter Sub-heading No. 2503 00 of Customs Tariff). The Company has now filed Appeal before CESTAT being Appeal No. C/89904/2018 - DB dated 2^nd January 2019 (against the Order dated 07.02.2018 of the Commissioner (Appeals), Mumbai) and deposited an amount of ' 1.43 Crores

(being the 10% of the alleged demand of differential duty of ' 14.33 Crores), as a condition precedent for the Appeal before the CESTAT. The Appeal is pending at CESTAT, Mumbai, and will come up for hearing in course of time. Based on the legal advice the Company is confident to successfully succeed in the appeal.

The company had imported Rock Phosphate (for the manufacture of Fertilizer viz. Single Superphosphate) and the Bill of Entry for the consignments of Rock Phosphate imported during the period 2005-2006 to 2007-2008, were provisionally assessed and goods were allowed to be cleared with "Nil” Special additional Duty (SAD for short) falling under Chapter heading, Sub-heading or tariff item "31 or any other chapter” of the first Schedule of Customs Tariff. Subsequently, the Department raised an alleged demand of ' 1.21 crores on account of the enhancement of declared value (Invoice value on which duty was assessed provisionally) and denial of ‘Nil” (SAD) under Notification- 20/2006-Cus dated 1.3.2006 on the alleged ground that the

Company had allegedly failed to submit the relevant documents which could prove that the imported Rock Phosphate was used for the manufacturing of "fertilizer”. The Company has now filed Appeal before CESTAT being Appeal No. C/89910/2018 - DB dated 2^nd January 2019 (against the Order dated 07.02.2018 of the Commissioner (Appeals),Mumbai.) and deposited an amount of ' 12.16 Lakhs being the 10% of the alleged demand of ' 1.21 Crores. The Appeal is pending at CESTAT , Mumbai and will come up for hearing in course of time. Based on the legal advice the Company is confident to successfully succeed in the appeal.

The Shipping Corporation of India Limited (SCI) filed a commercial suit in the Hon’ble City Civil Court for Greater Bombay against the Company for charges related to cleaning, stowing, restowing, restuffing at various ports during the vessel’s voyage carrying the Company’s cargo from NhavaSheva to Antwerp. The claim of SCI has been denied and refuted by the Company through its written statement filed in the court. In addition, Company has filed its counter claim of '.1.06 crore plus applicable interest thereon against SCI.

NOTE 34: LEASES

The Company as leasee, has long term lease contract for 2 godowns. Lease of godown generally has lease terms of 4 years. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Company is restricted from assigning and subleasing the leased assets and some contracts require the Company to maintain certain financial ratios. There are no major lease contracts that include extension and termination options and variable lease payments.

The Company had total cash outflows for leases of ' 34.69 Lakhs in March 31, 2026 (' 41.07 Lakhs in March 31, 2025). There are no noncash additions to right-of-use assets and lease liabilities.

NOTE 35: CORPORATE SOCIAL RESPONSIBILITY

As per Section 135 of the Companies Act, 2013, a Company meeting the applicability threshold needs to spend at least 2% of its average net profits for the immediately preceding three financial years on Corporate Social Responsibility (CSR) activities. The Company has constituted a Corporate Social Responsibility (CSR) Committee. The Company has specified the projects in education field, promoting preventive healthcare and sanitation. Modalities of utilisation of funds on the specified project and monitoring and reporting mechanism has been defined.

The Company has spent an amount of ' 38.77 Lakhs during the 2025-26 (Previous year ' 39.15 Lakhs) towards several CSR activities.

NOTE 37: RISK MANAGEMENT

FRAMEWORK

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The Company, through three layers of defence namely policies and procedures, review mechanism and assurance aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations. The Audit committee of the Board with top management oversee the formulation and implementation of the Risk management policies. The risks are identified at business unit level and mitigation plan are identified, deliberated and reviewed at appropriate forums.

A. Financial risk management

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

- credit risk (see (i));

- liquidity risk (see (ii)); and

- market risk (see (iii)).

i. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counter party to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers, loans and investments. The carrying amount of financial assets represents the maximum credit risk exposure.

Trade receivables

The Company has established a credit policy under which each new customer is analysed individually for creditworthiness before the payment and delivery terms and conditions are offered. The Company’s review includes external ratings, if they are available, financial statements, credit agency information, industry information and business intelligence. Sale limits are established for each customer and reviewed annually. Any sales exceeding those limits require approval from the appropriate authority as per policy. In monitoring customer credit risk, customers are grouped according to their credit characteristics, including whether they are an individual or a legal entity, whether they are a institutional, dealers or end-user customer, their geographic location, industry,

trade history with the Company and existence of previous financial difficulties.

Expected credit loss for trade receivables

The Company based on internal assessment which is driven by the historical experience/current facts available in relation to default and delays in collection thereof, the credit risk for trade receivables is considered low. The Company estimates its allowance for trade receivable using lifetime expected credit loss and accordingly provision is made for the doubtful debts.

Expected credit loss on financial assets other than trade receivables

With regards to all financial assets with contractual cash flows other than trade receivable, management believes these to be high quality assets with negligible credit risk. The management believes that the parties from which these financial assets are recoverable, have strong capacity to meet the obligations and where the risk of default is negligible and accordingly no provision for excepted credit loss has been provided on these financial assets.

ii. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.

The Company’s finance and accounts department is responsible for managing the short term and long term liquidity requirements. Short term liquidity situation is reviewed daily. Longer term liquidity position is reviewed on a regular basis by the Board of Directors and appropriate decisions are taken according to the situation.

iii. Market risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates that will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control

market risk exposures within acceptable parameters, while optimising the return.

Currency risk

The Company is exposed to currency risk to the extent that there is a mismatch between the currencies in which sales, purchases and borrowings

are denominated and the functional currency of the Company. The currencies in which the Company is exposed to risk are generally USD and EUR. The Company follows a natural hedge driven currency risk mitigation policy to the extent possible. Any residual risk is evaluated and appropriate risk mitigating steps are taken, including but not limited to, entering into forward contract.

Sensitivity analysis

A reasonably possible strengthening (weakening) of the USD and EUR against all other currencies at 31 March would have affected the measurement of financial exposure denominated in a foreign currency and affected equity and profit or loss by the amounts shown below.

Movement of USD and EUR and its effect on financial exposure on P & L . (1% variation /-). The assumed movement in exchange rate sensitivity analysis is based on the currently observable market environment.

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 changes in market interest rates. Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rate. The borrowings of the Company are principally denominated in rupees of fixed rates of interest. The Company has exposure to interest rate risk, arising principally on changes in base lending rate.

In order to optimize the company’s position with regard to interest income and interest expenses and to manage the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by balancing the proportion of the fixed rate and floating rate financial instruments in its total portfolio.

(iii) Sensitivity

Profit/loss is not sensitive to higher/lower interest expense from borrowings as the interest rates are fixed.

B. Capital management

For the purpose of Company’s Capital Management, capital includes issued capital, share 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 the share holder value.

The Company manages its capital structure and make adjustment in light of changes in economic conditions and requirements co venants.

(iii) The company does not have any charges or satisfaction thereof, which is yet to be registered with ROC beyond the statutory period.

(iv) The company have not traded or invested in Crypto currency or Virtual Currency during the year.

(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 have 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) The company has no such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during 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.

(viii) The company holds all the title deeds of immovable property in its name.

(ix) The company is not declared as wilful defaulter by any bank or financial Institution or other lender.

(x) The company is required to file any quarterly returns/statements with the bank.

(xi) There is no Scheme of Arrangements approved by the Competent Authority in terms of Sections 230 to 237of the Companies Act, 2013.

(xii) The company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with Companies (Restriction on Number of Layers) Rules, 2017.

NOTE 43: As per the requirements of rule 3(1) of the Companies (Accounts Rules 2014 the Company uses accounting software for maintaining its books of account that have a feature of recording audit trail of each and every transaction creating an edit log of each change made in the books of account alongwith the date when such changes were made within such accounting software. This feature of recording audit trail has operated throughout the year.

NOTE 44: Fig the previous year

have been regrouped/rearranged wherever necessary.