m. 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, it is probable 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.
When the Company expects some or all of a provision
to be reimbursed, for example, under an insurance
contract, the reimbursement is recognised as a
separate asset, but only when the reimbursement is
virtually certain. The expense relating to a provision
is presented in the statement of profit and loss net of
any reimbursement.

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

that reflects, when appropriate, 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.

Onerous contracts

A contract is considered to be onerous when the
expected economic benefits to be derived by the
Company from the contract are lower than the
unavoidable cost of meeting its obligations under
the contract. The provision for an onerous contract
is measured at the present value of the lower of the
expected cost of terminating the contract and the
expected net cost of continuing with the contract.
Before such a provision is made, the Company
recognises any impairment loss on the assets
associated with that contract.

Contingent liabilities

Provision in respect of loss contingencies relating to
claims, litigations, assessments, fines and penalties
are recognised when it is probable that a liability
has been incurred and the amount can be estimated
reliably. Contingent liabilities are recognised 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 or a present obligation that arises
from past events where it is either not probable that
an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount cannot
be made.

n. Cash and cash equivalents

Cash and cash equivalents in the balance sheet
comprises of cheques, cash at banks and on hand and
short-term deposits with an original maturity of three
months or less, which are subject to an insignificant
risk of changes in value. For the purpose of the
statement of cash flows, cash and cash equivalents
consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they
are considered an integral part of the Company's
cash Management.

o. Borrowing cost

Borrowing costs consist of interest and other
costs that an entity incurs in connection with the
borrowing of funds. Borrowing cost also includes

exchange differences to the extent regarded as an
adjustment to the borrowing costs. Borrowing costs
directly attributable to the acquisition, construction
or production of an asset that necessarily takes a
substantial period of time to get ready for its intended
use or sale are capitalised as part of cost of the asset.
All other borrowing costs are expensed in the period
in which they occur.

p. Impairment of non-financial assets

The Company assesses, at each reporting date,
whether there is an indication of impairment. If any
indication exists, or when annual impairment testing
for an asset is required, the Company estimates the
asset's recoverable amount. An asset's recoverable
amount is the higher of an asset's or cash-generating
unit's (CGU) fair value less costs of disposal and its
value in use. Recoverable amount is determined
for an individual asset, unless the asset does not
generate cash inflows that are largely independent
of those from other assets or groups of assets. When
the carrying amount of an asset or CGU exceeds its
recoverable amount, the asset is considered impaired
and is written down to its recoverable amount.

In assessing value in use, the estimated future cash
flows are discounted to their present value using
a pre-tax discount rate that reflects current market
assessments of the time value of money and the
risks specific to the asset. In determining fair value
less costs of disposal, recent market transactions are
taken into account. If no such transactions can be
identified, an appropriate valuation model is used.
These calculations are corroborated by valuation
multiples, quoted share prices for publicly traded
companies or other available fair value indicators.

The Company bases its impairment calculation on
detailed budgets and forecast calculations, which are
prepared separately for each of the Company's CGUs
to which the individual assets are allocated. These
budgets and forecast calculations generally cover a
period of five years. Impairment losses of continuing
operations, are recognised in the statement of profit
and loss.

An assessment is made at each reporting date
to determine whether there is an indication that
previously recognised impairment losses no longer
exist or have decreased. If such indication exists, the
Company estimates the asset's or CGU's recoverable

amount. A previously recognised impairment
loss is reversed only if there has been a change
in the assumptions used to determine the asset's
recoverable amount since the last impairment loss
was recognised. The reversal is limited so that the
carrying amount of the asset does not exceed its
recoverable amount, nor exceed the carrying amount
that would have been determined, net of depreciation,
had no impairment loss been recognised for the asset
in prior periods/ years. Such reversal is recognised
in the statement of profit and loss unless the asset
is carried at a revalued amount, in which case, the
reversal is treated as a revaluation increase.

Goodwill is tested for impairment annually and when
circumstances indicate that the carrying value may be
impaired. Impairment is determined for goodwill by
assessing the recoverable amount of each CGU (or
Group of CGUs) to which the goodwill relates. When
the recoverable amount of the CGU is less than its
carrying amount, an impairment loss is recognised.
Impairment losses relating to goodwill cannot be
reversed in future periods.

q. Financial instruments

A financial instrument is any contract that gives
rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.

Financial assets

Initial recognition and measurement

All financial assets are recognised initially at fair value
plus, in the case of financial assets not recorded at fair
value through profit or loss, transaction costs that are
attributable to the acquisition of the financial asset.
Purchases or sales of financial assets that require
delivery of assets within a time frame established by
regulation or convention in the market place (regular
way trades) are recognised on the trade date, i.e., the
date that the Company commits to purchase or sell
the asset.

Subsequent measurement

Any financial instrument, which does not meet the
criteria for categorization at amortized cost or at
FVTOCI (fair value through other comprehensive
income), is classified at FVTPL (fair value through
profit and loss). In addition, the company may elect
to designate a debt instrument, which otherwise
meets amortized cost or FVTOCI criteria, at FVTPL.

However, such election is allowed only if doing so
reduces or eliminates a measurement or recognition
inconsistency (referred to as 'accounting mismatch').
The Company has not designated any debt instrument
at FVTPL. Debt instruments included within the FVTPL
category are measured at fair value with all changes
recognized in the statement of profit and loss.

Equity instruments:

All equity investments in subsidiaries are measured at
cost less impairment. All equity investments in scope
of Ind AS 109 - Financial Instruments are measured
at fair value. Equity investments which are held for
trading are classified as FVTPL. For all other equity
investments, the Company may make an irrevocable
election to present in OCI subsequent changes in
fair value. The Company makes such election on an
instrument by instrument basis. The classification is
made on initial recognition and is irrevocable.

If the Company decides to classify an equity
instrument at FVOCI, then all fair value changes on
the instrument, excluding dividends, are recognised
in OCI. There is no recycling of amounts from OCI
to statement of profit and loss, even on sale of
investment. However, the Company may transfer
the cumulative gain/loss within equity. Equity
instruments included within the FVTPL category are
measured at fair value with all changes recognised in
the statement of profit and loss.

Derecognition

A financial asset (or, where applicable, a part of a
financial asset or part of a group of similar financial
assets) is primarily derecognised (i.e. removed from
the Company's balance sheet) when:

i) the rights to receive cash flows from the asset
have expired, or

ii) the Company has transferred its rights to receive
cash flows from the asset, and the Company
has transferred substantially all the risks and
rewards of the asset, or the Company has
neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.

Impairment of financial assets

In accordance with Ind AS 109- Financial instruments,
the Company applies expected credit loss (ECL) model

for measurement and recognition of impairment loss
on the following financial assets:

(i) Financial assets that are debt instruments, and
are measured at amortised cost, e.g. loans,
deposits, debt securities, etc.

(ii) Trade receivables that result from transactions
that are within the scope of Ind AS 115- Revenue
from contracts with customers.

The Company follows 'simplified approach' for
recognition of impairment loss allowance for trade
receivables. The application of simplified approach
does not require the Company to track changes in
credit risk. Rather, it recognises impairment loss
allowance based on lifetime ECLs at each reporting
date, right from its initial recognition.

For recognition of impairment loss on other financial
assets and risk exposure, the Company determines
whether there has been a significant increase in the
credit risk since initial recognition. If credit risk has
not increased significantly, 12-month ECL is used to
provide for impairment loss. However, if credit risk
has increased significantly, lifetime ECL is used. If, in
a subsequent period, credit quality of the instrument
improves such that there is no longer a significant
increase in credit risk since initial recognition,
then the entity reverts to recognising impairment
loss allowance based on 12-month ECL (simplified
approach). Lifetime ECL are the expected credit
losses resulting from all possible default events
over the expected life of a financial instrument. The
12-month ECL is a portion of the lifetime ECL which
results from default events that are possible within
12 months after the reporting date.

ECL 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
entity expects to receive (i.e., all cash shortfalls),
discounted at the original EIR (effective interest rate).
When estimating the cash flows, an entity is required
to consider:

(i) All contractual terms of the financial instrument
(including prepayment, extension, call and
similar options) over the expected life of the
financial instrument. However, in rare cases
when the expected life of the financial instrument
cannot be estimated reliably, then the entity is

required to use the remaining contractual term
of the financial instrument

(ii) Cash flows from the sale of collateral held or
other credit enhancements that are integral to
the contractual terms.

As a practical expedient, the Company uses a provision
matrix to determine impairment loss allowance on
portfolio of its trade receivables.The provision matrix
is based on its historically observed default rates
over the expected life of the trade receivables and
is adjusted for forward-looking estimates. At every
reporting date, the historical observed default rates
are updated and changes in the forward-looking
estimates are analysed.

ECL impairment loss allowance (or reversal)
recognized during the period is recognized as
income/ expense in the statement of profit and
loss. This amount is reflected under the head other
expenses/other income in the statement of profit
and loss. ECL is presented as an allowance, i.e., as
an integral part of the measurement of those assets
in the balance sheet. The allowance reduces the net
carrying amount. Until the asset meets write-off
criteria, the Company does not reduce impairment
allowance from the gross carrying amount.

For assessing increase in credit risk and impairment
loss, the Company combines financial instruments on
the basis of shared credit risk characteristics with the
objective of facilitating an analysis that is designed
to enable significant increases in credit risk to be
identified on a timely basis. The Company does not
have any purchased or originated credit-impaired
(POCI) financial assets, i.e., financial assets which are
credit impaired on purchase/ origination.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition,
as financial liabilities at fair value through profit
or loss, loans and borrowings, payables, or as
derivatives designated as hedging instruments in
an effective hedge, as appropriate. All financial
liabilities are recognised initially at fair value and,
in the case of loans and borrowings and payables,
net of directly attributable transaction costs. The
Company's financial liabilities include trade and

other payables, loans and borrowings including
bank overdrafts, financial guarantee contracts and
derivative financial instruments.

Subsequent measurement

The measurement of financial liabilities depends on
their classification, as described below:

Financial liabilities at fair value through profit
or loss

Financial liabilities at fair value through profit or loss
include financial liabilities designated upon initial
recognition at fair value through profit or loss.

Financial liabilities designated upon initial
recognition at fair value through profit or loss are
designated as such at the initial date of recognition,
and only if the criteria in Ind AS 109 are satisfied.
For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk
are recognized in OCI. These gains/ loss are not
subsequently transferred to statement of profit
and loss. However, the Company may transfer the
cumulative gain or loss within equity. All other
changes in fair value of such liability are recognised
in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the
obligation under the liability is discharged or
cancelled or expires. When an existing financial
liability is replaced by another from the same
lender on substantially different terms, or the terms
of an existing liability are substantially modified,
such an exchange or modification is treated as
the derecognition of the original liability and the
recognition of a new liability. The difference in the
respective carrying amounts is recognised in the
statement of profit and loss.

Financial liabilities at amortised cost (Loans and
borrowings)

This is the category most relevant to the Company.
After initial recognition, interest-bearing loans
and borrowings are subsequently measured at
amortised cost using the EIR method. Gains and
losses are recognised in profit or loss when the
liabilities are derecognised as well as through the EIR
amortisation process.

Amortised cost is calculated by taking into account
any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The
EIR amortisation is included as finance costs in the
statement of profit and loss.

Reclassification of financial assets

The Company determines classification of financial
assets and liabilities on initial recognition. After
initial recognition, no reclassification is made for
financial assets which are equity instruments and
financial liabilities. For financial assets which are
debt instruments, a reclassification is made only if
there is a change in the business model for managing
those assets. Changes to the business model are
expected to be infrequent. The Company's senior
Management determines the change in the business
model as a result of external or internal changes
which are significant to the Company's operations.
Such changes are evident to the external parties.
A change in the business model occurs when the
Company either begins or ceases to perform an
activity that is significant to its operations. If the
Company reclassifies financial assets, it applies the
reclassification prospectively from the reclassification
date which is the first day of the immediately next
reporting period following the change in business
model.The Company does not restate any previously
recognised gains, losses (including impairment gains
or losses) or interest.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and
the net amount is reported in the balance sheet if
there is a currently enforceable legal right to offset
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle
the liabilities simultaneously.

. Derivative financial instruments

The Company uses derivative financial instruments,
such as forward currency contracts to hedge its
foreign currency risks. Such derivative financial
instruments are initially recognised at fair value on
the date on which a derivative contract is entered into
and are subsequently re-measured at fair value.

Derivatives are carried as financial assets when the
fair value is positive and as financial liabilities when
the fair value is negative. The forward contracts that
meet the definition of a derivative under Ind AS 109
are recognised in the statement of profit and loss.
Any gains or losses arising from changes in the fair
value of derivatives are taken directly to profit or loss.

operation meets the criteria to be classified as held for
sale. The Company considers the guidance in Ind AS
105 Non-Current assets held for sale and discontinued
operations to assess whether a divestment asset
would qualify the definition of 'component' prior to
classification into discontinued operation

u. 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.

For the year ended March 31,2025, MCA has notified
Ind AS - 117 Insurance Contracts and amendments
to Ind AS 116 - Leases, relating to sale and leaseback
transactions, applicable to the Company w.e.f.
April 1, 2024. The Company has reviewed the new
pronouncements and based on its evaluation has
determined that it does not have any significant
impact in its financial statements

Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.
The recoverable amounts of the cash generating units (CGU) have been assessed using a value-in-use model. Value-
in-use is generally calculated as the net present value of the projected post-tax cash flows plus a terminal value of the
CGU to which the goodwill is allocated. Initially, a post-tax discount rate is applied to calculate the net present value of
the post-tax cash flows.

Key assumptions upon which the company has based its determinations of value-in-use include :

a) Estimated cash flows for five years, based on management's projections.

b) A terminal value arrived at by extrapolating the last forecasted year cash flows to perpetuity, using a constant long¬
term growth rate ranging from 0-2%.This long term growth rate takes into consideration external macroeconomic
sources of data. Such long-term growth rate considered does not exceed that of the relevant business and
industry sector.

c) The after tax discount rates used are based on the Company's weighted average cost of capital.

d) The after tax discount rate used range from 15%-18% for various cash generating units.

The Company believes that any reasonably possible change in the key assumptions on which a recoverable amount
is based would not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the cash¬
generating unit.

Note:

1. The Board of Directors of the Company at its meeting held on August 10, 2024 approved further investment in
GLS Pharma Limited through acquisition of 590,361 equity shares from the selling shareholders for an aggregate
consideration of ' 225 (constituting 49% of the equity share capital of GLS) following which GLS has become the
wholly owned subsidiary of the Company with effect from October 25, 2024.

2. Investment of '4.1(March 31,2023 '4.1) on account of fair valuation of corporate guarantee given by the Company
on behalf of Lyfius Pharma Private Limited, a wholly - owned subsidiary of Aurobindo Antibiotics Private Limited

3. Provision made during the year is pertains to investements in Tergene Biotech Private Limited

Provision for impairment

"Investments are tested for impairment annually and when circumstances indicate that the carrying value may be
impaired. Impairment is determined by assessing the recoverable amount of each investment. When the recoverable
amount of the investment is less than its carrying amount, an impairment loss is recognised.

The recoverable amounts of the above investments have been assessed using a value-in-use model. Value in use is
generally calculated as the net present value of the projected post-tax cash flows plus a terminal value of the business.
Initially, a post-tax discount rate is applied to calculate the net present value of the post-tax cash flows.

Key assumptions upon which the company has based its determinations of value-in-use include :

a) Estimated cash flows based on internal budgets and industry outlook for a period of five years and a terminal growth
rate thereafter.

b) A terminal value arrived at by extrapolating the last forecasted year cash flows to perpetuity, using a constant long¬
term growth rate ranging from 0-2%.This long term growth rate takes into consideration external macroeconomic
sources of data. Such long-term growth rate considered does not exceed that of the relevant business and
industry sector.

c) The after tax discount rates used reflect the current market assessment of the risks specific to the investment, the
discount rate is estimated based on the weighted average cost of capital for respective investment. After tax discount
rate used range from 15%-18%

The Company believes that any reasonably possible change in the key assumptions on which a recoverable amount
is based would not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the cash¬
generating unit.

* in respect of above matters, future cash outflows in respect of contingent liabilities are determinable only by the occurrence or
non occurrence of one or more uncertain future events not wholly within the control of the Company.The Company is contesting
these demands (including certain demands which are not treated as contingent based on assessment) and the Management,
including its advisors, believe that its position will likely be upheld in the appellate process. No expense has been accrued
in the stand alone financial statements for the demands raised. The Management believes that the ultimate outcome of this
proceeding will not have a material adverse effect on the Company’s financial position and results of operations. The above
does not include show cause notices received by the Company against which no demand has been levied by the department.

^A The Company is involved in disputes, claims, Governmental and /or regulatory inspection, inquires, including patents and
commercial maters that arise from time to time in the ordinary course of business. The same are subject to uncertain future
events not wholly within the control of the Company. The Management does not expect the same to have materially adverse
effect on its financial position, as it believes the likely hood of any loss is not probable.

Corporate guarantee (includes Debt shortfall undertaking) given by the Company are in relation to its subsidiaries
which aggregate to ' 9,220 (March 31, 2024'17,630). Subsidiaries have availed loan against the said corporate
guarantee which have been considered as contingent liabilities (refer note 37).

In addition to the above, the Company along with a subsidiary is a party to certain pending disputes with regulatory
authorities relating to allotment of certain lands that have taken place in earlier years. During the year 2018¬
19, pursuant to the order of the Honorable Appellate Tribunal, land belonging to APL Research Centre Limited,
subsidiary, which were attached earlier, were released after placing a fixed deposit of '131.6 with a bank as a security
deposit with Enforcement Directorate. While the disposal of the cases are subject to final judgement from the
Central Bureau of Investigation (CBI) Special Court, in the assessment of the Management and as legally advised,
the allegations are unlikely to have a significant material impact on the financial statements of the Company.

This defined benefit plan exposes the Company to actuarial risk, such as investment risk, interest rate risk,
longevity risk and salary risk.

Investment Risk - The present value of the defined benefit plan liability denominated in Indian Rupee is
calculated using a discount rate determined by reference to market yields at the end of the reporting period
on government bonds.

Interest Risk - A decrease in the bond interest rate will increase the plan liability; however, this will be partially
offset by an increase in the return on the plan Assets.

Longevity risk - The present value of the defined benefit plan liability is calculated by reference to the best
estimate of the mortality of plan participants both during and after their employment. An increase in the life
expectancy of the plan participants will increase the plan's liability.

Salary risk- The present value of the defined benefit plan liability is calculated by reference to the future salaries
of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

The plan is funded with Life Insurance Corporation in the form of a qualifying insurance policy. The following
tables summarise the components of net benefit expense recognised in the statement of profit and loss, the
fund status and amounts recognised in the balance sheet:

b) Disclosures related to defined benefit plan

In respect of Gratuity, a defined benefit plan, the plan is funded with Life Insurance Corporation in the form
of a qualifying insurance policy governed by the payment of Gratuity Act, 1972. Under the Gratuity Act, Every
employee who has completed five years or more of service is entitled to gratuity on departure at 15 days last
drawn salary for each completed year of service or part thereof in excess of six months. The level of benefit
provided depends on the member's length of service and salary at the time of retirement/termination age.
Provision for gratuity is based on actuarial valuation done by an independent actuary as at the year end. Each
year, the Company reviews the level of funding in gratuity fund and decides its contribution. The Company
aims to keep annual contributions relatively stable at a level such that the fund assets meets the requirements
of gratuity payments in short to medium term.

ii. Transfer between Level 1 and 2

There have been no transfers between Level 1 and
Level 2 or vice-versa in 2024-25 and no transfers in
either direction in 2023-24.

C. 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 board of directors has established the Risk
Management Committee, which is responsible for
developing and monitoring the Company's risk
management policies. The committee reports to the
board of directors on its activities.

The Company's risk management policies are
established to identify and analyse the risks being
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. The
Company, through its training and management
standards and procedures, aims to maintain a
disciplined and constructive control environment
in which all employees understand their roles
and obligations.

The Company's audit committee oversees
how management monitors compliance with
the Company's risk management policies and
procedures, and reviews the adequacy of the risk
management framework in relation to the risks faced
by the Company. The audit committee is assisted in
its oversight role by internal audit. Internal audit
undertakes both regular and ad hoc reviews of risk
management controls and procedures, the result of
which are reported to the audit committee.

The Company is exposed primarily to credit risk,
liquidity risk and market risk (including fluctuations
in foreign currency exchange rates , interest rate risk
and other price risk). The Company uses derivative
financial instruments such as forwards to minimise
any adverse effect on its financial performance.

i. Credit risk

Credit risk is the risk that counterparty will not
meet its obligations under a financial instrument or
customer contract, leading to a financial loss. Credit
risk encompasses of both, the direct risk of default
and the risk of deterioration of credit worthiness as

well as concentration of risks. Credit risk is controlled
by analysing credit limits and credit worthiness
of customers on a continuous basis to whom the
credit has been granted after obtaining necessary
approvals for credit. Financial instruments that are
subject to concentrations of credit risk principally
consist of trade receivables, investments, derivative
financial instruments, cash and cash equivalents,
loans and other financial assets. The Company
establishes an allowance for doubtful receivables and
impairment that represents its estimate of incurred
losses in respect of trade and other receivables
and investments.

Trade receivables

The Company's exposure to credit risk is influenced
mainly by the individual characteristics of each
customer. However, the Management also evaluates
the factors that may influence the credit risk of its
customer base, including the default risk and country
in which the customers operate. The Management
has established a credit policy under which each
new customer is analysed individually for credit
worthiness before the Company's standard payment
and delivery terms are offered. The Company's
review includes external ratings, if available, financial
statements, credit agency information, industry
information and in some case bank references.
Sales limits are established for each customer and
reviewed quarterly.

The Company's receivables turnover is quick and
historically, there was no significant default on
account of trade and other receivables.The Company
assesses at each reporting date whether a financial
asset or a group of financial assets is impaired.
Expected credit losses are measured at an amount
equal to the 12 months expected credit losses or at an
amount equal to the life time expected credit losses
if the credit risk on the financial asset has increased
significantly since initial recognition. The Company
has used a practical expedient by computing the
expected credit loss allowance for trade receivables
based on a provision matrix. The provision matrix
takes into account historical credit loss experience
and is adjusted for forward looking information. The
maximum exposure to credit risk at the reporting date
is the carrying value of trade and other receivables.
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 operate in
largely independent markets.

iii. Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market prices. Such changes in the values of financial instruments may result from changes in the
foreign currency exchange rates, interest rates, credit, liquidity and other market changes.The Company's exposure
to market risk is primarily on account of foreign currency exchange rate risk and interest rate risk.

a) Foreign currency risk:

The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit or
loss, where any transaction references more than one currency or where assets / liabilities are denominated
in a currency other than the functional currency of the Company.The Company is subject to foreign exchange
risk primarily due to its foreign currency revenues, expenses and borrowings. Considering the countries
and economic environment in which the Company operates, its operations are subject to risks arising from
fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in US Dollar, Euro
and GBP against the functional currency of the Company. The Company, as per its risk management policy,
uses derivative instruments primarily to hedge foreign exchange. The Company has a treasury team which
evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks
and advises the Management of any material adverse effect on the Company. It hedges a part of these risks
by using derivative financial instruments in line with its risk management policies.The information on foreign
exchange risk from derivative instruments and non derivative instruments is as follows:

I nterest rate sensitivity analysis: The sensitivity analysis below has been determined based on the exposure to
interest rates at the end of the reporting period for floating rate borrowings only. For floating rate borrowings, the
analysis is prepared assuming the amount of the borrowing outstanding at the end of the reporting period was
outstanding for the entire year. A 0.5% increase or decrease is used when reporting interest rate risk internally
to key management personnel and represents management's assessment of the reasonably possible change in
interest rates.

If interest rates had been 0.5% higher/lower and all other variables were held constant, the Company's Profit for
the year ended March 31,2025 would decrease/increase by ' 226.3, (March 31,2024: '140.9). Equity net of tax is Rs
167.6 (March 31,2024'111.2).This is mainly attributable to the Company's exposure to interest rates on its variable
rate borrowings.

c) Commodity risk:

Exposure to market risk with respect to commodity prices primarily arises from the Company's purchase of active
pharmaceutical ingredients and other raw material components for its products. These are commodity products,
whose prices may fluctuate significantly over short periods of time. The prices of the Company's raw materials
generally fluctuate in line with commodity cycles, although the prices of raw materials used in the Company's
business are generally more volatile. Cost of raw materials forms the largest portion of the Company's cost of
revenues. Commodity price risk exposure is evaluated and managed through operating procedures and sourcing
policies. As of March 31, 2025, the Company has not entered into any derivative contracts to hedge exposure to
fluctuations in commodity prices.

42 TRANSFER OF API BUSINESS

The board at its meeting held on February 9, 2023 and April 01, 2023 had approved the transfer of certain active
pharmaceutical ingredients (API) business units to its wholly owned subsidiary, Apitoria Pharma Private Limited
(APPL) (formerly known as Auro Pharma India Private Limited") on a going concern basis by way of a slump sale
w.e.f April 1, 2023 subject to certain conditions precedent including receipt of requisite approval. Consequent to
receipt of such approvals, the Company and APPL entered into a amended agreement to make the transfer effective
from October 1, 2023.

43 AMALGAMATION OF MVIYES PHARMA VENTURES PRIVATE LIMITED AND AURONEXT PHARMA
PRIVATE LIMITED.

The Company obtained approval from the Hyderabad bench of National Company Law Tribunal on April 29,
2024 for the scheme of amalgamation between Mviyes Pharma Ventures Private Limited (Transferor Company I),
Auronext Pharma Private Limited (Transferor Company II), (both wholly owned subsidiaries) and Aurobindo Pharma
Limited (Transferee Company) with an appointed date of April 01, 2023. The transaction being a common control
business combination, has been accounted under the Pooling of Interest Method in accordance with Ind AS 103 -
Business combination.

44 The Board of Directors, at its meeting held on July 18, 2024 approved a proposal to buyback 5,136,986 fully paid-
up equity shares amounting to ' 7,500.0 million [Buyback Size, excluding transaction costs and applicable taxes]
at a price of ' 1,460 per share from the eligible equity shareholders. The buyback was offered to all eligible equity
shareholders including the promoters and promoter group of the Company on proportionate basis through the
"Tender offer" route in accordance with Securities and Exchange Board of India [Buyback of Securities] Regulations,
2018, as amended and other applicable laws. The Buyback period was from July 18, 2024 to August 28, 2024. The
Company had bought back and extinguished 5,136,986 equity shares, comprising of 0.88% of pre-buyback paid
up equity share capital of the Company. The buyback resulted in a cash outflow of ' 9,302.4 million [including
applicable taxes and transaction costs]. The Company has utilized its Securities Premium and General Reserve for
Buyback of shares. In accordance with Section 69 of the Companies Act, 2013, the Company has credited "Capital
Redemption Reserve" with an amount of to ' 5.1 million, being amount equivalent to the face value of the Equity
Shares bought back as an appropriation from General Reserve

51 ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III OF COMPANIES ACT, 2013.
Other Statutory Information:

(i) 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) The Company is not declared a willful defaulter by any bank or financial Institution or other lender.

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

(iv) The Company has no transaction with the companies struck off under the Companies Act, 2013 or Companies
Act, 1956.

(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity (ies), inluding
foreign entities (intermediaries) with the understanding that the intermediary shall;

a) directly or indirectly lend or invest in other persons or entities idendtified in any manner whatsoever by
or on behalf of the Company (Ultimate beneficary) or

b) provide any guaranty,security or the like to or on behalf of ultimate beneficiaries

(vi) The company has not received any fund from any person (s) or entity (ies), including foreign entities (Funding
party) with the understanding (whehter 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 gurantee,security or the like on behalf of the ultimate beneficiaries

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

(viii) All quarterly returns or statements of current assets are filed by the Company with banks or financial institutions
are in agreement with the books of account.

(ix) The loan has been utilised for the purpose for which it was obtained and no short term funds have been used
for long term purpose.

(x) The Company has not traded or invested in Crypto currency or virtual currency during the current or previous year

(xi) The Company has not entered into any scheme of arrangements other than disclosed in note 42 and 43 of this
financials statements which has an accounting impact on current or previous year.

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

*The ratios reported for the current year are not comparable with that of the previous year on account of transfer of API
Business (refer note 42)

52 In connection with the preparation of the standalone financial statements for the year ended March 31, 2025, the
Board of Directors have confirmed the propriety of the contracts / agreements entered into by / on behalf of the
Company and the resultant revenue earned / expenses incurred arising out of the same after reviewing the levels
of authorisation and the available documentary evidences and the overall control environment. Further, the Board
of Directors have also reviewed the realizable value of all the current assets of the Company and have confirmed
that the value of such assets in the ordinary course of business will not be less than the value at which these are
recognised in the standalone financial statements. In addition, the Board has also confirmed the carrying value of
the non-current assets in the financial statements. The Board, duly taking into account all the relevant disclosures
made, has approved these standalone financial statements in its meeting held on May 26, 2025 in accordance with
the provisions of Companies Act, 2013.

For and on behalf of the Board of Directors of

Aurobindo Pharma Limited

K. Nithyananda Reddy M. Madan Mohan Reddy

Vice Chairman & Managing Director Director

DIN-01284195 DIN-01284266

Santhanam Subramanian B. Adi Reddy

Chief Financial Officer Company Secretary

Membership No: 13709

Place: Hyderabad

Date: May 26, 2025