2.12 Provisions, contingent liabilities and contingent assets:
Provisions are recognized only when there is a present obligation (legal and constructive) as a result of past events and when
a reasonable estimate of the amount of obligation can be made. The amount recognized as a provision is the best estimate
of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks
and uncertainties surrounding the obligation. When a provision measured using the cash flows estimated to settle the present
obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Contingent liabilities are disclosed for (i) possible obligation which will be confirmed only by future events not wholly within the
control of the Company or (ii) present obligations arising from past events where it is not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.
When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying
economic benefits is remote, no provision or disclosure is made.
Contingent assets are not recognized. It is disclosed only when the inflow of economic benefits is probable.
2.13 Assets held for sale:
Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when all the following
criteria are met: (i) decision has been made to sell, (ii) the assets are available for immediate sale in its present condition, (iii)
the assets are being actively marketed and (iv) sale has been agreed or is expected to be concluded within 12 months of the
Balance Sheet date.
Subsequently, such non-current assets and disposal groups classified as ‘held for sale’ are measured at the lower of its
carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised.
2.14 Financial instruments:
Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of
the instruments.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at
fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities,
as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial
liabilities at fair value through profit or loss are recognized immediately in profit or loss.
Financial assets:
All regular way purchases or sales of financial assets are recognized and derecognized on a trade date basis. Regular way
purchases or sales are purchases or sales of financial assets that require delivery of assets within the timeframe established
by regulation or convention in the marketplace.
All recognized financial assets are subsequently measured in their entirety at either amortized cost or fair value, depending
on the classification of the financial assets.
Classification of financial assets:
Debt instruments that meet the following conditions are subsequently measured at amortized cost (except for debt instruments
that are designated as at fair value through profit or loss on initial recognition):
• the asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows;
and
• the contractual terms of the instrument give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
Debt instruments that meet the following conditions are subsequently measured at fair value through other comprehensive
income (except for debt instruments that are designated as at fair value through profit or loss on initial recognition):
• the asset is held within a business model whose objective is achieved both by collecting contractual cash flows and
selling financial assets; and
• the contractual terms of the instrument give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
Interest income is recognized in profit or loss for Fair value through other Comprehensive income (FVTOCI) debt instruments.
For the purposes of recognizing foreign exchange gains and losses, FVTOCI debt instruments are treated as financial assets
measured at amortized cost. Thus, the exchange differences on the amortized cost are recognized in profit or loss and other
changes in the fair value of FVTOCI financial assets are recognized in other comprehensive income and accumulated under
the heading of ‘Reserve for debt instruments through other comprehensive income’. When the investment is disposed of, the
cumulative gain or loss previously accumulated in this reserve is reclassified to profit or loss.
All other financial assets are subsequently measured at fair value.
2.15 Effective interest method:
The effective interest method is a method of calculating the amortized cost of a debt instrument and of allocating interest
income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts
(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 debt instrument, or, where appropriate, a shorter period, to the
net carrying amount on initial recognition.
Income is recognized on an effective interest basis for debt instruments other than those financial assets classified as at
FVTPL. Interest income is recognized in profit or loss and is included in the “Other income” line item.
2.16 Investments in Subsidiaries, Associates and Joint Ventures:
Investments in Subsidiaries, Associates and Joint Ventures are carried at cost less accumulated impairment losses, if any.
Where an indication of impairment exists, the carrying amount of the investment is assessed and written down immediately to
its recoverable amount. On disposal of investments in subsidiaries, associates and joint venture, the difference between net
disposal proceeds and the carrying amounts are recognised in the Statement of Profit and Loss.
2.17 Impairment of financial assets:
The Company applies the expected credit loss model for recognizing impairment loss on financial assets measured
at amortized cost, trade receivables, and other contractual rights to receive cash or other financial asset, and financial
guarantees not designated as at FVTPL.
Expected credit losses are the weighted average of credit losses with the respective risks of default occurring as the weights.
Credit loss is the difference between all contractual cash flows that are due to the Company in accordance with the contract
and all the cash flows that the Company expects to receive (i.e. all cash shortfalls), discounted at the original effective interest
rate (or credit-adjusted effective interest rate for purchased or originated credit-impaired financial assets). The Company
estimates cash flows by considering all contractual terms of the financial instrument through the expected life of that financial
instrument.
The Company measures the loss allowance for a financial instrument at an amount equal to the lifetime expected credit
losses if the credit risk on that financial instrument has increased significantly since initial recognition. If the credit risk on a
financial instrument has not increased significantly since initial recognition, the Company measures the loss allowance for
that financial instrument at an amount equal to 12-month expected credit losses. 12-month expected credit losses are portion
of the lifetime expected credit losses and represent the lifetime cash shortfalls that will result if default occurs within the 12
months after the reporting date and thus, are not cash shortfalls that are predicted over the next 12 months.
If the Company measured loss allowance for a financial instrument at lifetime expected credit loss model in the previous
period, but determines at the end of a reporting period that the credit risk has not increased significantly since initial recognition
due to improvement in credit quality as compared to the previous period, the Company again measures the loss allowance
based on 12-month expected credit losses.
When making the assessment of whether there has been a significant increase in credit risk since initial recognition, the
Company uses the change in the risk of a default occurring over the expected life of the financial instrument instead of the
change in the amount of expected credit losses. To make that assessment, the Company compares the risk of a default
occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as
at the date of initial recognition and considers reasonable and supportable information, that is available without undue cost or
effort, that is indicative of significant increases in credit risk since initial recognition.
For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are
within the scope of Ind AS 11 and Ind AS 18, the Company always measures the loss allowance at an amount equal to lifetime
expected credit losses.
Further, for the purpose of measuring lifetime expected credit loss allowance for trade receivables, the Company has used
a practical expedient as permitted under Ind AS 109. This expected credit loss allowance is computed based on a provision
matrix which takes into account historical credit loss experience and adjusted for forward-looking information.
The impairment requirements for the recognition and measurement of a loss allowance are equally applied to debt instruments
at FVTOCI except that the loss allowance is recognized in other comprehensive income and is not reduced from the carrying
amount in the balance sheet.
2.18 Derecognition of financial assets:
The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or when
it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the
Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Company recognizes its retained interest in the asset and an associated liability for amounts it may
have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the
Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.
On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the
consideration received and receivable and the cumulative gain or loss that had been recognized in other comprehensive
income and accumulated in equity is recognized in profit or loss if such gain or loss would have otherwise been recognized
in profit or loss on disposal of that financial asset.
On derecognition of a financial asset other than in its entirety, the Company allocates the previous carrying amount of the
financial asset between the part it continues to recognize under continuing involvement, and the part it no longer recognizes
on the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying amount
allocated to the part that is no longer recognized and the sum of the consideration received for the part no longer recognized
and any cumulative gain or loss allocated to it that had been recognized in other comprehensive income is recognized in profit
or loss if such gain or loss would have otherwise been recognized in profit or loss on disposal of that financial asset.
A cumulative gain or loss that had been recognized in other comprehensive income is allocated between the part that
continues to be recognized and the part that is no longer recognized on the basis of the relative fair values of those parts.
2.19 Foreign exchange gains and losses:
The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and translated at
the spot rate at the end of each reporting period.
• For foreign currency denominated financial assets measured at amortized cost and FVTPL, the exchange differences
are recognized in profit or loss except for those which are designated as hedging instruments in a hedging relationship.
• Changes in the carrying amount of investments in equity instruments at FVTOCI relating to changes in foreign currency
rates are recognized in other comprehensive income.
For the purposes of recognizing foreign exchange gains and losses, FVTOCI debt instruments are treated as financial assets
measured at amortized cost. Thus, the exchange differences on the amortized cost are recognized in profit or loss and other
changes in the fair value of FVTOCI financial assets are recognized in other comprehensive income.
2.20 Financial liabilities and equity instruments:
a. Classification as debt or equity
Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance
with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.
b. Equity instruments
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities. Equity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs.
Repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is
recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments.
c. Financial liabilities
All financial liabilities are subsequently measured at amortized cost using the effective interest method or at FVTPL.
However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when
the continuing involvement approach applies, financial guarantee contracts issued by the Company, and commitments
issued by the Company to provide a loan at below-market interest rate are measured in accordance with the specific
accounting policies set out below.
d. Financial liabilities at FVTPL
Financial liabilities are classified as at FVTPL when the financial liability is either contingent consideration recognized
by the Company as an acquirer in a business combination to which Ind AS 103 applies or is held for trading or it is
designated as at FVTPL.
A financial liability is classified as held for trading if:
• it has been incurred principally for the purpose of repurchasing it in the near term; or
• on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together
and has a recent actual pattern of short-term profit-taking; or
• It is a derivative that is not designated and effective as a hedging instrument.
A financial liability other than a financial liability held for trading or contingent consideration recognized by the Company
as an acquirer in a business combination to which Ind AS 103 applies, may be designated as at FVTPL upon initial
recognition if:
• such designation eliminates or significantly reduces a measurement or recognition inconsistency that would
otherwise arise;
• the financial liability forms part of group of financial assets or financial liabilities or both, which is managed and its
performance is evaluated on a fair value basis, in accordance with the Company’s documented risk management
or investment strategy, and information about the grouping is provided internally on that basis; or
• it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire
combined contract to be designated as at FVTPL in accordance with Ind AS 109.
Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognized in
profit or loss. The net gain or loss recognized in profit or loss incorporates any interest paid on the financial liability and
is included in the ‘Other income’ line item.
However, for non-held-for-trading financial liabilities that are designated as at FVTPL, the amount of change in
the fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognized
in other comprehensive income, unless the recognition of the effects of changes in the liability’s credit risk in other
comprehensive income would create or enlarge an accounting mismatch in profit or loss, in which case these effects
of changes in credit risk are recognized in profit or loss. The remaining amount of change in the fair value of liability
is always recognized in profit or loss. Changes in fair value attributable to a financial liability’s credit risk that are
recognized in other comprehensive income are reflected immediately in retained earnings and are not subsequently
reclassified to profit or loss.
Gains or losses on financial guarantee contracts and loan commitments issued by the Company that are designated by
the Company as at fair value through profit or loss are recognized in profit or loss.
e. Financial liabilities subsequently measured at amortized cost
Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortized cost at
the end of subsequent accounting periods. The carrying amounts of financial liabilities that are subsequently measured
at amortized cost are determined based on the effective interest method. Interest expense that is not capitalized as part
of costs of an asset is included in the ‘Finance costs’ line item.
The effective interest method is a method of calculating the amortized 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.
f. Foreign exchange gains and losses
For financial liabilities that are denominated in a foreign currency and are measured at amortized cost at the end of each
reporting period, the foreign exchange gains and losses are determined based on the amortized cost of the instruments
and are recognized in ‘Other income’.
The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of the reporting period. For financial liabilities that are measured as at FVTPL, the
foreign exchange component forms part of the fair value gains or losses and is recognized in profit or loss.
g. De-recognition of financial liabilities
The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged,
cancelled or have expired. An exchange between lenders of debt instruments with substantially different terms is
accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability.
Similarly, a substantial modification of the terms of an existing financial liability (whether or not attributable to the
financial difficulty of the debtor) is accounted for as an extinguishment of the original financial liability and the recognition
of a new financial liability. The difference between the carrying amount of the financial liability derecognized and the
consideration paid and payable is recognized in profit or loss.
(B) Nature and purpose of reserves
a. General Reserve: This Reserve is created by an appropriation from one component of equity generally surplus in
statement of Profit and Loss (Retained Earnings) to another, not being an item of Other Comprehensive Income. The
same can be utilized in accordance with the provisions of the Companies Act, 2013.
b. Securities Premium: This Reserve represents the premium on issue of shares in earlier years and can be utilized in
accordance with the provisions of the Companies Act, 2013.
c. Surplus in Statement of Profit and Loss: Surplus in Statement of Profit and Loss are the profits that the Company
has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholder.
d. Items of Other Comprehensive Income - Remeasurements of Net Defined Benefit Plans
It represent different between actuarial assumption on interest income on Plan asset and actuals, besides movement in
plan liabilities due to changes in actuarial assumptions including experience adjustments.
K. Risk Exposure
(A) Liability Risks
(i) Asset-Liability Mismatch Risk
Risk if there is a mismatch in the duration of the assets relative to the liabilities. By matching duration with the defined
benefit liabilities, the company is successfully able to neutralize valuation swings caused by interest rate movements.
Hence companies are encouraged to adopt asset-liability management.
(ii) Discount Rate Risk
Variations in the discount rate used to compute the present value of the liabilities may seem small, but in practice can
have a significant impact on the defined benefit liabilities.
(iii) Future Salary Escalation and Inflation Risk
Since price inflation and salary growth are linked economically, they are combined for disclosure purposes. Rising
salaries will often result in higher future defined benefit payments resulting in a higher present value of liabilities
especially unexpected salary increases provided at management’s discretion may lead to estimation uncertainties
increasing this risk.
(B) Unfunded Plan Risk
This represents unmanaged risk and a growing liability. There is an inherent risk here that the company may default on
paying the benefits in adverse circumstances. Funding the plan removes volatility from the balance sheet and better manages
defined benefit risk through increased returns.
C. Lease arrangements with the Government of Tamilnadu
The agreement entered with the Government of Tamilnadu in respect of leasehold land on which Propylene Oxide plant is
operating expired on 12th June 2020. Application for renewal of the lease for further period has been filed with the relevant
authorities. In the meanwhile, the Company received a demand for payment of arrears of lease rent for the period 1st July
1990 - 30th June 2020 to the tune of f 9,224.33 lakhs from the Vattachiyer, Tiruvottiyur. Despite representation made by the
company in this regard, in the absence of any response from the authorities as to the basis on which the above demand was
raised, the management is of the view that the demand is arbitrary and devoid of any merit. The Company continues to make
payment of the lease rent at contracted rates as per the earlier agreement with Government of Tamilnadu, in terms of the
extant Government guidelines for lease of land for industrial purposes. Pending execution of the renewed lease agreement
from 13th June 2020, the company has recognised Right-of-use of Assets (ROUA) on the indicative increase in lease rentals
for a period of 30 years.
37. The Chief Operating Decision Maker (CODM) has considered manufacturing of industrial intermediate chemicals as the single
operating segment as defined in Ind AS 108 - Operating segment and reviews the performance of the Company as a whole for
allocation of resources.
38. Financial instruments
(i) Capital management
For the purpose of the Company’s capital management, capital includes 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 the shareholder value.
The Company’s objective when managing capital are to:
- Safeguard their ability to continue as a going concern, so that they can continue to provide return for shareholders and
benefits for other stakeholders and
- Maintain an optimal capital structure to reduce the weighted average cost of capital
In order to maintain or adjust the capital structure, the Company may adjust the amount of dividend paid to shareholders,
return capital to shareholders, issue new shares, or sell non-core assets to reduce the debt.
(ii) Loan covenants
The company has term loans outstanding as on 31st March 2025. The borrowings are secured by way of Equitable Mortgage
over Property, Plant and Equipment and current assets the year ended 31st March 2025.
The Company’s risk management is governed by policies monitored by Risk Management Committee, a sub-committee of the
Board and as well approved by the Board of Directors. Company’s treasury identifies, evaluates and hedges financial risks in
close co-ordination with the Company’s operating units. The Board provides written principles for overall risk management,
as well as policies covering areas such as foreign exchange risk, interest rate risk, credit risk and investment of excess
liquidity in short-term Fixed Deposits / Mutual debt funds.
a. Credit Risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
leading to financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables)
and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions
and other financial instruments.
a(i) Trade receivables
Customer credit risk is managed by each business unit under the guidance of the credit policy, procedures and
control relating to customer credit risk management. Credit quality of a customer is assessed based on financial
position, past performance, business/economic conditions, market reputation, expected business etc. Based
on this evaluation, credit limit and credit terms are decided. Exposure on customer receivables are regularly
monitored and managed through credit lock and release. Further where required the company obtains bank
guarantee as security for goods sold.
a(ii) Financial Instruments and cash deposits
Credit risk from balances with banks and financial institutions is managed by the Company’s treasury departmen
in accordance with the Company’s policy. Investments of surplus funds are made in deposits with reputed bank
and short-term liquid funds.
The Company has no exposure to credit risk relating to these cash deposits as at: 31st March 2025.
b. Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises of three types of risks: interest rate risk, currency risk and other price risk, suci
as equity price risk and commodity risk. Financial instruments affected by market risk include loans and borrowings an(
deposits.
Market risk exposures are measured using sensitivity analysis. There has been no change in the measurement an
management of the Company’s exposure to market risks .
b(i) Foreign currency risk management
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because o
changes in foreign exchange rates. Foreign exchange rate exposures are managed within policy parameter
approved by Board of Directors The Company manages its foreign currency risk by hedging transactions that ars
expected to occur within a maximum of 12-month period of forecasted receipts and payments. Exposures relating
to capital expenditure beyond a threshold are hedged as per Company policy at the time of commitment.
b(ii) Interest rate risk management
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because o
changes in market interest rates. The Company has been availing the borrowings on a fixed and variable rate o
interest. These borrowings are carried at amortised cost. The borrowings on a fixed rate of interest basis are no
subject to the interest rate risk as defined in Ind AS 107, since neither the carrying amount nor future cash flows
will fluctuate because of change in market interest rates. The borrowings on a variable rate of interest are subjec
to interest rate risk as defined in Ind AS 107. The Company at the end of March 2025, does not carry any loans
with variable interest.
c. Liquidity risk management
Liquidity Risk refers to the risk that the company cannot meets its financial obligation, the objective of the liquidity risl
management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. Ths
company consistently generated sufficient cash flows from operations to meet its financial obligation including leass
liabilities as and when they fall due.
41. Disclosure of amount of borrowing cost capitalised during the year
During the year ended 31 March 2025, the Company has capitalised borrowing costs amounting to f 341.75 Lakhs to the cost
of qualifying assets in accordance with the principles of Indian Accounting Standard (Ind AS) 23 - ‘Borrowing Costs’. Term Loan
carrying an interest rate of 9.27% p.a average was utilised for this purpose.
42. Disclosure of Transactions With Struck Off Companies
The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2013 or
Section 560 of Companies Act, 1956 during the financial year.
43. Additional Regulatory Information required under Schedule III of Companies Act, 2013
(i) Details of Benami property held
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.
(ii) Borrowing secured against current assets
The Company has borrowings from banks and financial institutions on the basis of security of current assets. The quarterly
returns or statements filed by the Company with banks and financial institutions are in agreement with the books of
accounts.
(iii) Wilful defaulter
The company has not been declared as Wilful defaulter by any bank or financial institution or government or any government
authority.
(iv) Registration of charges
The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(v) Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under the Companies Act, 2013.
(vi) Compliance with approved scheme(s) of arrangements
The company has not entered into any scheme of arrangement which has an accounting impact on current financial year.
(vii) Utilization of borrowed funds and share premium
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 directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the group (Ultimate Beneficiaries) or provide any
guarantee, security or the like to or on behalf of the ultimate beneficiaries.
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 group shall 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
provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
(viii) Undisclosed income
There is no income surrendered or disclosed as income during the current financial year in the tax assessments under the
Income Tax Act, 1961, and hence requirement to record in the books of accounts does not arise.
(ix) Details of crypto currency or virtual currency
The Company has not traded or invested in crypto currency or virtual currency during the current year.
(x) Loans or Advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties
The company has not granted any loans or advances in nature of loans to promotors, directors, KMPs and the related parties
(as defined under the Companies Act, 2013) either severally or jointly with any other persons. Hence disclosure under clause
(v) of Schedule III of The Companies Act, 2013, is not applicable.
45. Events after the reporting period
The Board of Directors have recommended a dividend of f 1.20/- per share 12% on 8,99,71,474 equity shares of f10/- each for
the Financial Year 2024-25 subject to approval of Members at the Annual General Meeting.
46. Approval of financial statements
The financial statements were reviewed and recommended by the Audit Committee and approved by the Board of Directors at the
meeting held on 06th May, 2025.
47. Previous Year’s figures
Previous year’s figures have regrouped wherever necessary to correspond with the current year’s disclosure.
In terms of our report attached
For R.G.N. Price & Co. For and on behalf of the Board of Directors
Chartered Accountants
Firm Regn No.002785S
Sriraam Alevoor M Manish Nagpal D Senthikumar
Partner Director Managing Director
M.No.221354 DIN:03169160 DIN:00202578
C. Parthiban Sangeetha Sekar
Place : Chennai Chief Financial Officer Company Secretary
Date : 06th May, 2025_M.No. A31391_
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