(n) Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event and
it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation and a
reliable estimate can be made of the amount of obligation.

If the effect of the time value of money is material, provisions are determined by discounting the expected future cash
flows to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time
value of money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognised in the
Statement of Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the
current best estimate.

A present obligation that arises from past events where it is either not probable that an outflow of resources will be required
to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are
also disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by
the occurrence or non -occurrence of one or more uncertain future events not wholly within the control of the Company.

Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as
contingent liabilities.

Contingent assets are not recognised in the financial statements. A contingent asset is disclosed where an inflow of
economic benefits is probable. Contingent assets are assessed continually and, if it is virtually certain that an inflow of
economic benefits will arise, the asset and related income are recognised in the period in which the change occurs.

(o) Borrowing costs

General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying
asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale.
Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying
assets is deducted from the borrowing costs eligible for capitalisation. Other borrowing costs are expensed in the year in
which they are incurred.

Borrowing costs consists of interest and other costs that an entity incurs in connection with the borrowing of funds.

(p) Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which it may earn revenues
and incur expenses, whose operating results are regularly reviewed by the Company’s chief operating decision maker to
make decisions for which discrete financial information is available. Based on the management approach as defined in Ind
AS 108, the chief operating decision maker evaluates the Company’s performance and allocates resources based on an
analysis of various performance indicators by geographic segments.

(q) Earnings per share

Basic earnings per share are computed by dividing the net profit after tax by the weighted average number of equity shares
outstanding during the year. Diluted earnings per share is computed by dividing the profit after tax by the weighted average
number of equity shares considered for deriving basic earnings per share and also the weighted average number of equity
shares that could have been issued upon conversion of all dilutive potential equity shares.

(r) Cash and cash equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks
having the maturity of three months or less which are subject to insignificant risk of changes in value.

(s) Cash Flow Statement

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions
of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income
or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing
activities of the Company are segregated.

(t) Dividends

The Company recognises a liability to make dividend distributions to equity holders of the Company when the distribution is
authorised and the distribution is no longer at the discretion of the Company. As per the corporate laws in India, a distribution
is authorised when it is approved by the shareholders. A corresponding amount is recognised directly in equity.

(u) Significant accounting judgements, estimates and assumptions

The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS
requires the management of the Company to make judgement, estimates and assumptions that affect the reported balances
of assets and liabilities, disclosures relating to contingent liabilities as at the date of the financial statements and the reported
amounts of income and expense for the periods presented. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised
in the period in which the estimates are revised and future periods are affected.

In particular, information about significant areas of estimation uncertainty and critical judgements in applying accounting
policies that have the most significant effect on the amounts recognised in the financial statements is included in the
following notes:

(i) Impairment of non - financial assets - Note 2.3(f)

(ii) Useful lives of property, plant and equipment and intangible assets - Note 2.3(d) and (e)

(iii) Valuation of deferred tax assets - Note 2.3(j)(ii)

(iv) Defined benefit plans - Note 2.3(m)(iii)(a)

(v) Provisions and contingent liabilities - 2.3(n)

(vi) Fair value measurement - 2.3(b)

3 Recent Pronouncements

Ministry of Corporate Affairs ("MCA”) notifies new standards or amendments to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time.

In May 2025, MCA notified amendments to Ind AS 21 - The Effects of Changes in Foreign Exchange Rates, applicable w.e.f.
01.04.2025. The Company has reviewed the amendment and based on its evaluation has determined that it does not have any
significant impact in its financial statements.

(ii) Rights, Preferences and Restrictions attaching to each class of shares Equity Shares having a face value of J 10

As to voting

The Company has only one class of shares referred to as equity shares having a face value of H 10. Each holder of the equity
share is entitled to one vote per share.

As to distribution of dividends

The Shareholders are entitled to receive dividend in proportion to the amount of paid up equity shares held by them. The
dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend which is recognised on approval by board of directors.

As to repayment of capital

In the event of liquidation of the Company, the holders of equity shares are entitled to receive the remaining assets of the
Company after distribution of all preferential amounts. The distribution will be in proportion of the number of shares held by
the shareholders.

(iii) Shares held by Holding / Ultimate Holding Company and / or their Subsidiaries / Associates

There is no Holding Company or Ultimate Holding Company of the Company. Accordingly, disclosures pertaining to shares
of the Company held by held by holding company or its ultimate holding company including shares held by subsidiaries or
associates of the holding company or the ultimate holding company is not applicable.

Security and rate of interest

Cash credit / packing credit / buyers credit is secured by:

1st pari passu hypothication charge on entire stocks and receivables of the Company both present and future.

2nd pari passu charge on entire fixed assets of the Company both present and future.

Corporate Guarantee of Subsidiary Company - Kopran Research Laboratories Limited and personal guarantee of director /
promoter aggregating to H6925.00 Lakhs.

Rate of Interest on cash credit - 9.25% p.a. to 11.40% p.a.

Rate of Interest on packing credit - SOFR 100 bps to SOFR 150bps

Rate of Interest on buyers credit - SOFR 40 bps to SOFR 100 bps.

b) Defined Benefit plan

The employees’ gratuity scheme is a defined benefit plan. The present value of obligation is determined based on actuarial
valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit
of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave
encashment is recognised in the same manner.

Sensitivity Analysis

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions
occurring at the end of the reporting period, while holding all other assumptions constant.

The sensitivity analysis presented below may not be representative of the actual change in the projected benefit
obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the
assumptions may be correlated.

40. Disclosures pursuant to Ind AS 108 "Segment Reporting"

The Company is primarily engaged in the business of manufacturing of "Formulation (Finished Dosage Form)” which in the
context of Indian Accounting Standard (Ind AS) 108 on Operating Segments constitutes a single reportable segment.

In accordance with Ind AS 108 "Operating Segments”, segment information has been given in the consolidated financial statements
of the Company and therefore no separate disclosure on segment information is given in these financial statements.

ii. Fair Value Measurements

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

The Company has established the fair value hierarchy that categorises the values into 3 levels. For the inputs to valuation
techniques used to measure fair value of financial instruments refer Note No. 2.3(b)

Notes:

There have been no transfers among Level 1, Level 2 and Level 3 during the period.

Financial Instrument measured at Amortised Cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are
a reasonable approximation of their fair values since the Management does not anticipate that the carrying amounts would
be significantly different from the values that would eventually be received or settled.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is net debt divided by total
capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less
cash and cash equivalents, excluding discontinued operations. The company monitors capital using gearing ratio, which is total
debt divided by total capital plus debt.

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure that it meets
financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in
meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches
in the financial covenants of any interest-bearing loans and borrowing in the current year.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31,2026 and
March 31,2025.

49. Financial risk management objectives and policies

The Company’s principal financial liabilities comprise borrowings, trade and other payables. The main purpose of these financial
liabilities is to finance the Company’s operations and to provide guarantees to support its operations. The Company’s principal
financial assets include trade and other receivables, and cash and cash equivalents that derive directly from its operations.

The Company’s business activities expose it to a variety of financial risks, namely market risks, credit risk and liquidity risk.
The Company's senior management has the overall responsibility for the establishment and oversight of the Company's risk
management framework. The top management is responsible for developing and monitoring the Company's risk management
policies. The Company's risk management policies are established to identify and analyze the risks faced by the Company, to
set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are
reviewed regularly to reflect changes in market conditions and the Company's activities.

a) Market risk

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, borrowings, foreign
currency receivables and payables.

i) 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. The Company’s exposure to the risk of changes in market interest rates relates to the
Company's long-term debt as well as short-term obligations with floating interest rates.

In order to manage it interest rate risk the Company diversifies its portfolio in accordance with the limits set by the risk
management policies.

As an estimation of the approximate impact of the interest rate risk, with respect to financial instruments, the
Company has calculated the impact of a 1% change in interest rates. A 1% decrease in interest rates would have led
to approximately an additional H 46.36 Lakhs gain for year ended March 31, 2026 (H 45.31 Lakhs gain for year ended
March 31,2025) in Interest expenses. A 1% increase in interest rates would have led to an equal but opposite effect.

Interest rate sensitivity has been calculated assuming the borrowings outstanding at the reporting date have been
outstanding for the entire reporting.

ii) Foreign Currency Risk

Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency,
which fluctuate due to changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign
exchange rates relates primarily to the borrowings, import of raw materials, exports of Formulations and the Company’s
net investments in foreign subsidiaries.

When a derivative is entered into for the purpose of being a hedge, the Company negotiates the terms of those
derivatives to match the terms of the hedged exposure.

The Company evaluates exchange rate exposure arising from foreign currency transactions. The Company follows
established risk management policies. It uses derivative instruments like foreign currency forwards to hedge exposure
to foreign currency risk.

Foreign exchange risk sensitivity:

As an estimation of the approximate impact of the interest rate risk, with respect to financial instruments, the Company
has calculated the impact of a 1% change in interest rates. A 1% decrease in interest rates would have led to approximately
an additional ? 71.83 Lacs net loss/Profit for year ended March 31, 2026 (? 69.23 Lacs net profit/loss for year ended
March 31,2025) in Interest expenses. A 1% increase in interest rates would have led to an equal but opposite effect.

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded
price. Other price risk arises from financial assets such as investments in equity instruments. The Company is exposed
to price risk arising mainly from investments in equity instruments recognised at FVTOCI. As at March 31, 2026, the
carrying value of such equity instruments recognised at FVTOCI amounts to H 5.26 Lakhs (March 31, 2025 H 5.26
Lakhs). The details of such investments in equity instruments are given in Note 6(a) and 6(b).

The Company is mainly exposed to change in market rates of its investments in equity investments recognised at
FVTOCI. A sensitivity analysis demonstrating the impact of change in market prices of these instruments from the
prices existing as at the reporting date is given below:

If the equity prices had been higher / lower by 10% from the market prices existing as at March 31, 2026, Other
Comprehensive Income for the year ended March 31, 2026 would increase / decrease by H Nil Lakhs (March 31,
2025 H Nil Lakhs) with a corresponding increase/decrease in Total Equity of the Company as at March 31, 2026. 10%
represents management’s assessment of reasonably possible change in equity prices.

b) Credit Risk

Credit risk arises when a customer or counterparty does not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade
receivables) and from its financing / investing activities, including deposits with banks, foreign exchange transactions and
financial guarantees. The Company has no significant concentration of credit risk with any counterparty.

Trade receivables:

Credit risk arising from trade receivables is managed in accordance with the Company’s established policy, procedures and
control relating to customer credit risk management. Credit quality of a customer is assessed based on a detailed study of
credit worthiness and accordingly individual credit limits are defined/ modified.

Total Trade receivable as on March 31, 2026 is H 13,257.94 Lakhs (March 31, 2025 H 9,192.12 Lakhs). The average credit
period on sale of goods is 90 to 180 days. No interest is charged on trade receivables.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number
of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The calculation is
based on exchange losses historical data. The maximum exposure to credit risk at the reporting date is the carrying value of
each class of financial assets. The Company does not hold collateral as security. The Company evaluates the concentration
of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and
operate in largely independent markets.

The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company
uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into account external and
internal risk factors and historical data of credit losses from various customers.

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The
Company’s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without
incurring unacceptable losses. In doing this, management considers both normal and stressed conditions.The following
table shows the maturity analysis of the Company's financial liabilities based on contractually agreed undiscounted cash
flows as at the Balance Sheet date.

Dues to micro, small and medium enterprises have been determined to the extent such parties have been identified on the basis
of information collected by the management.

51. Corporate Social Responsibility

As per section 135 of the Companies Act, 2013, amount required to be spent by the Company during the year ended March 31,
2026 and 2025 is H 74.46 lakhs and H 61.99 lakhs, respectively, computed at 2% of its average net profit for the immediately
preceding three financial years, on Corporate Social Responsibility (CSR). The Company incurred an amount of Rs 83.53 lakhs
and H 66.00 lakhs during the year ended March 31,2026 and 2025, respectively, towards CSR expenditure for purposes other than
construction / acquisition of any asset.

52. Disaggregation of Revenue

The operations of the Company are limited to only one segment viz. pharmaceuticals and related products. Revenue from contract
with customers is from sale of manufactured goods and rendering of research services. Sale of goods are made at a point in
time and revenue is recognised upon satisfaction of the performance obligations which is typically upon dispatch / delivery. The
Company has a credit evaluation policy based on which the credit limits for the trade receivables are established. There is no
significant financing component as the credit period provided by the Company is not significant.

Information about major customers:

More than 10% of the Revenues is from one customer aggregating to H 5,204.73 Lakhs representing approximately 17.15% of the
Company’s revenue from operations from sale of products, for the year ended March 31,2026.

More than 10% of the Revenues is from one customer aggregating to H 3,837.29 Lakhs representing approximately 14.28% of the
Company’s revenue from operations from sale of products, for the year ended March 31,2025.

53. Dividend paid during the year ended March 31, 2026 of H 3 per equity share is towards final dividend for the year ended March 31,2025.
Dividends declared by the Company are based on the profit available for distribution. On May 19, 2026, the Board of Directors of
the Company have recommended a dividend of 30% i.e., H 3.00 per equity share of face value of H 10 each for the financial year
ended March 31,2026 subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a
cash outflow of approximately H 1,448.57 lakh.

55. The Code on Social Security, 2020 (Code) relating to employee benefits during employment and post-employment benefits has
received Presidential assent on 28th September 2020. The Code has been published in the Gazette of India. However, the date
on which the Code comes into effect has not been notified. The Company will assess the impact of the Code when it comes into
effect and will record any related impact in the period the Code becomes effective.

(a) Senior managerial personnel as defined under Regulation 16(d) of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015:

Options granted to senior personnel management during the year
Not Applicable

(b) Any other employee who receives a grant in any one year of option amounting to 5% or more of option granted
during that year:

Not Applicable

(c) Identified employees who were granted option, during any one year, equal to or exceeding 1% of the issued
capital (excluding outstanding warrants and conversions) of the company at the time of grant:

Not Applicable

Assumptions:

1) Stock Price: We have considered the Equity price as per the information provided by the Company

2) Exercise Price: We have considered the exercise price as per the information provided by the Company

3) Volatility: The historical volatility over the expected life has been considered to calculate the fair value.

4) Time to Maturity: Time to Maturity / Expected Life of options is the period for which the Company expects the
options to be live.

5) Risk-free rate of return: The risk-free interest rate being considered for the calculation is the interest rate
applicable for a maturity equal to the expected life of the options based on the zero-coupon yield curve for
Government Securities

6) Expected divided yield: Expected dividend yield has been calculated as per data provided by company.

(b) The method used and the assumptions made to incorporate the effects of expected early exercise: Not Applicable

(c) How expected volatility was determined, including an explanation of the extent to which expected volatility was based
on historical volatility: The expected price volatility is determined using annualized standard deviation (a measure
of volatility used in Black-Scholes-Merton option pricing) and the historic volatility based on remaining life of the
options. How expected volatility was determined, including an explanation of the extent to which expected volatility
was based on historical volatility:The expected price volatility is determined using annualized standard deviation (a
measure of volatility used in Black-Scholes-Merton option pricing) and the historic volatility based on remaining life
of the options.

(d) Whether and how any other features of the options granted were incorporated into the measurement of fair value,
such as a market condition: Not Applicable

57. Other Statutory Information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property.

(ii) The Company does not have any identified transaction with struck off company during the year.

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

(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity, including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(vi) The Company has not received any fund from any person or entity, 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 is not declared as wilful defaulter by any bank or financial institution or other lender.

(ix) The title deeds of immovable properties (other than immovable properties where the Company is the lessee and the lease
agreements are duly executed in favour of the lessee) are held in the name of the Company.

(x) The company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act,
2013 read with the Companies (Restriction on number of Layers) rules, 2014.