5 Provisions and contingencies
Provisions:Provisions are recognised when there is a present obligation or constructive obligation as a result of a
past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation and there is a reliable estimate of the amount of the obligation. Provisions are determined by discounting
the expected future cash flows at a pre tax rate that reflects current market assessment of the time value of money and
the risks specific to the liability.
Contingent Liabilities:Contingent liabilities are 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 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 or a reliable estimate of the amount
cannot be made.
Contingent asset:Contingent Assets is a possible asset that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the entity. Contingent assets are disclosed in the Financial Statements by way of notes to accounts when
an inflow of economic benefits is probable.
6 Financial assets
All purchases or sales of financial assets are recognized and de-recognized on a trade date basis. Regular way
purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame
established by regulation or convention in the market place.
All recognized financial assets are subsequently measured in their entirety at either amortised cost or fair value,
depending on the classification of the financial assets.
Classification of financial assets
Classification of financial assets depends on the nature and purpose of the financial assets and is determined at the
time of initial recognition.
The Company classifies its financial assets in the following measurement categories:
• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or
loss), and
•those measured at amortised cost.
The classification depends on the Company's business model for managing the financial assets and the contractual
terms of the cash flows.
A financial asset that meets the following two conditions is measured at amortised cost unless the asset is designated
at fair value through profit or loss under the fair value option:
• Business model test :the objective of the Company's business model is to hold the financial asset to collect the
contractual cash flows.
• Cash flow characteristic test :the contractual term of the financial asset give rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.
A financial asset that meets the following two conditions is measured at fair value through other comprehensive
income unless the asset is designated at fair value through profit or loss under the fair value option:
• Business model test :the financial asset is held within a business model whose objective is achieved by both
collecting cash flows and selling financial assets.
• Cash flow characteristic test :the contractual term of the financial asset gives rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.
All other financial assets are measured at fair value through profit or loss.
Financial assets at fair value through profit or loss (FVTPL)
Investment in equity instrument are classified at fair value through profit or loss, unless the Company irrevocably elects
on initial recognition to present subsequent changes in fair value in other comprehensive income for investments in
equity instruments which are not held for trading.
Financial assets that do not meet the amortised cost criteria or fair value through other comprehensive income criteria
are measured at fair value through profit or loss. A financial asset that meets the amortised cost criteria or fair value
through other comprehensive income criteria may be designated as at fair value through profit or loss upon initial
recognition if such designation eliminates or significantly reduces a measurement or recognition inconsistency that
would arise from measuring assets and liabilities or recognising the gains or losses on them on different bases.
Investments in debt based mutual funds are measured at fair value through profit or loss.
Financial assets which are fair valued through profit or loss are measured at fair value at the end of each reporting
period, with any gains or losses arising on re-measurement recognized in profit or loss.
Trade receivables
Trade receivables are recognised initially at fair value unless they do not carry a significant financing component, in
which case they are recognized at the transaction price.
The Company generally determines the allowance for expected credit losses based on historical loss experience
adjusted to reflect current and estimated future economic conditions. The Company considered current and
anticipated future economic conditions relating to industries the company deals with and the countries where it
operates. In calculating expected credit loss, the Company has also considered credit reports and other related credit
information for its customers to estimate the probability of default in future.
Cash and cash equivalents
In the cash flow statement, cash and cash equivalents includes cash in hand, cheques and drafts in hand, balances
with bank and deposits held at call with financial institutions, short-term highly liquid investments with original
maturities of three months or less that are readily convertible to known amounts of cash and which are subject to
an insignificant risk of changes in value. Bank overdrafts are shown within borrowings in current liabilities in the
balance sheet and forms part of financing activities in the cash flow statement. (Bank overdraft are shown within
other financial liabilities in the balance sheet and forms part of financing activities in the cash flow statement.)
Income recognition
Interest income: Interest income from a financial asset is recognized when it is probable that the economic benefits
will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on a time
basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that
exactly discounts estimated future cash receipts through the expected life of the financial asset of that asset's net
carrying amount on initial recognition.
' Financial liabilities
All financial liabilities are subsequently measured at amortised cost using the effective interest rate method or at fair
value through profit or loss.
Trade and other payables
For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate
fair value due to the short maturity of these instruments.
Borrowings
Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently
measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognised in profit or loss over the period of the borrowings using the effective interest rate method.
Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged,
cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished
or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities
assumed, is recognised in profit or loss.
Foreign exchange gains or losses
For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end
of each reporting period, the foreign exchange gains and losses are determined based on the amortised cost of the
instruments and are recognised in profit or loss.
The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and
translated at the exchange rate at the end of the reporting period. For financial liabilities that are measured as at
fair value through profit or loss, the foreign exchange component forms part of the fair value gains or losses and is
recognised in profit or loss.
8 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 period in which they are incurred.
9 Government grants
Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant
will be received and the Company will comply with all attached conditions.
Government grants relating to income are deferred and recognised in the profit or loss over the period necessary to
match them with the costs that they are intended to compensate and presented within other income.
Government grants relating to the purchase of property, plant and equipment are included in non-current liabilities
as deferred income and are credited to profit or loss on a straight-line basis over the expected lives of the related
assets and presented within other income.
10 Earnings Per Share
Basic earnings per share have been computed by dividing the net income by the weighted average number of shares
outstanding during the year. Diluted earnings per share has been computed using the weighted average number of
shares and diluted potential shares, except where the result would be anti-dilutive
11 Dividends
Final dividends on shares are recorded on the date of approval by the shareholders of the Company.
12 Leases
Leases [As Lessee]
In cases of finance leases, the Company, at the inception of a contract, assessess whether the contract is a lease or
not lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset
for a time in exchange for a consideration.
The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use
asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs
to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less
any lease incentives received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the
end of the lease term.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement
date, discounted using the Company's incremental borrowing rate. It is remeasured when there is a change in
future lease payments arising from a change in an index or rate, if there is a change in the Company's estimate of
the amount expected to be payable under a residual value guarantee, or if the Company changes its assessment of
whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this
way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or
loss if the carrying amount of the right-of-use asset has been reduced to zero.
The Company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have
a lease term of 12 months or less and leases of low-value assets. The Company recognises the lease payments
associated with these leases as an expense over the lease term.
In the comparative period, leases under which the Company assumes substantially all the risks and rewards of
ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value
of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments and receipts under
operating leases are recognised as an expense and income respectively, on a straight line basis in the statement of
profit and loss over the lease term except where the lease payments are structured to increase in line with expected
general inflation.
Leases [As Lessor]
Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an
asset are classified as operating leases. Rental Income arising there from is accounted for on a straight line basis over
the lease terms.
13 Cash flow statement
Cash flows are reported using the indirect method, whereby profit / (loss) before exceptional items and tax is adjusted
for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from operating, investing and financing activities of the Company are segregated based
on the available information. Cash and cash equivalents include cash on hand, cash with banks in current and
deposit accounts with necessary disclosure of cash and cash equivalent balances that are not available for use by the
company.
The Company's investment property consist of properties in the nature of land and buildings in India. As at March 31, 2026
and March 31,2025 the fair values of the properties are '1,522.15/- Lakhs and '1,475.68/- Lakhs.
The fair value of investment property (as measured for disclosure purposes in the financial statements) is based on the
valuation by a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
The fair value hierarchy is at level 2, which is derived using the market comparable approach based on recent market prices
without any significant adjustments being made to the market observable data. Refer Note 35 for fair value hierarchy.
The Company has no restrictions on the realisability of its investment properties and no contractual obligations to either
construct or develop investment properties or for repairs, maintenance and enhancements.
22c)Details of Supplier finance arrangement
The Company has agreement for supplier finance arrangements with third party financial institution A.TREDS
LIMITED. These arrangements provide participating suppliers the ability to finance payment obligation from the
Company with the third-party financial institutions. (Axis Bank Limited & Bank of Baroda)
The Company's obligation to its suppliers, including amounts due and schedule payment dates (which have general
payment terms of 45 Days) are not affected by a participating supplier decision to participate in the arrangement.
Rate of interest for the financing (or) Premium paid for early financing between 7.20 % to 7.80%
Range of payment due dates from invoice date under finance arrangement 90 days
34 EMPLOYEE BENEFIT OBLIGATIONS
The Company makes Provident Fund and Employee State Insurance Scheme contributions which are defined contribution
plans, for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the
payroll costs to fund the benefits. The Company has recognised ' 138.46/- Lakhs (Previous year: ' 125.81/- Lakhs) as
contribution to Provident Fund, and ' 7.88/- Lakhs (Previous year: ' 7.33/- Lakhs) as contribution to Employee State Insurance
(ESI) in the Statement of Profit and Loss. These contributions have been made at the rates specified in the rules of the respective
schemes and has been recognised in the Statement of Profit and Loss under the head Employee Benefits Expense.
(v) Brief description of the Plans & risks
These plans typically expose the Company to actuarial risks such as : Investment risk, interest risk, longetivity risk and
salary risk.
Investment risk:
The present value of the defined benefit plan liability is calculated using a discount which is determined with reference
to market yields at the end of the reporting period on government bonds. Plan investment is a mix of investments in
government securities, other debt instruments and equity shares of listed companies.
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's debt instruments, if any.
Longetivity 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 liabilty is calculated by reference to the future salaries of plan participants.
As such, an increase in the salary of plan participants will increase the plan's liability.
(vi) Sensitivity analysis
The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:
This section explains the judgements and estimates made in determining the fair values of the financial instruments that are
(a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the group has
classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each
level follows underneath the table.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments,
traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are
traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using
the closing NAV.
Level 2:The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-
counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as
little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.
Level 3:If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.
There are no transfers between levels 1 and 2 during the year.
The company's policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting
period.
(ii) Valuation technique used to determine fair value
Specific valuation techniques used to value financial instruments include the use of quoted market prices or dealer quotes for
similar instruments. The carrying amounts of trade receivables, trade payables, cash and cash equivalents and other current
financial liabilities are considered to be the same as their fair values, due to their short-term nature.
36 CAPITAL MANAGEMENT
(a) Risk management
The company's objectives when managing capital are to
• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders
and benefits for other stakeholders, and
• maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, The company may adjust the amount of dividends paid to
shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.
Company's debt consists of short term borrowings currently and it intends to maintain an optimal gearing ratio for
optimising shareholder value.
37 FINANCIAL RISK MANAGEMENT
The Company's activities expose it to market risk, liquidity risk and credit risk.
(A) Credit risk
Company faces credit risk from cash and cash equivalents, deposits with banks and financial institutions and
unsecured trade receivables. The Company doesn't face any credit risk with other financial assets.
(i) Credit risk management
Credit risk on deposit is mitigated by depositing the funds in Scheduled Commercial Banks.
For trade receivables, the primary source of credit risk is that these are unsecured.The Company sells the products
to customers only when the collection of trade receivables is certain and whether there has been a significant increase
in the credit risk on an on-going basis is monitored throughout each reporting period. As at the balance sheet
date, based on the credit assessment the historical trend of low default is expected to continue. An impairment
analysis is performed at each reporting date on an individual basis for major clients. Any recoverability of receivables
is provided for based on the impairment assessment.
Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and
financial institutions with high ratings assigned by international and domestic credit rating agencies. Ratings are
monitored periodically and the Company has considered the latest available credit ratings as at the date of approval
of these financial statements.
(ii) Provision for expected credit losses for trade receivables
The company provides for expected credit loss based under simplified approach:
Year ended 31st March, 2026:
Expected credit loss for trade receivables under simplified approach
(B) Liquidity risk
Objective of liquidity risk management is to maintain sufficient cash and marketable securities and the availability
of funding through an adequate amount of committed credit facilities to meet obligations when due. Management
monitors rolling forecasts of the Company's liquidity position (comprising the undrawn borrowing facilities below) and
cash and cash equivalents on the basis of expected cash flows. The company's liquidity management policy involves
projecting cash flows in major currencies and considering the level of liquid assets necessary to meet these, monitoring
balance sheet liquidity ratios against internal requirements .
(ii) Maturities of financial liabilities
The tables below analyse the company's financial liabilities into relevant maturity groupings based on their
contractual maturities for:
a) all non-derivative financial liabilities, and
b) net and gross settled derivative financial instruments for which the contractual maturities are essential for an
understanding of the timing of the cash flows.
(C) Market risk
(i) Foreign currency risk
The Company activities exposes it to foreign exchange risk arising from foreign currency transactions, primarily with
respect to the USD and EURO. Foreign exchange risk arises from future commercial transactions and recognised
assets and liabilities denominated in a currency that is not the Company's functional currency (INR). The risk is
measured through a forecast of highly probable foreign currency cash flows.
The Company's exposure to foreign currency risk at the end of the reporting period expressed in INR, are as follows.
Equity price risk is related to the change in market reference price of the investments in equity securities. The fair value
of sum of the company's investments measure at fair value through other comprehensive income exposes to the company
to equity price risks. This investments are subject to change in the market price of securities.
The fair value of company's investment quoted equity securities ar of March 31,2026 and March 31,2025 was '10,660.09
/- lakhs and ' 14,228.87/-lakhs respectively.
A 5% change in equity price of March 31, 2026 and March 31, 2025 would result in impact of ' 533.00/- lakhs and
' 711.44/- lakhs respectively.
(D) Interest Rate Risk
(i) Assets
The Company holds interest bearing assets in the form of fixed deposits with banks. The variation in interest risks is
managed by distributing deposits among wide base of banks and financial institutions.
40 Segment reporting for the Year ended 31st March, 2026
The Chairperson & Managing Director of the company has been identified as the Chief Operating Decision Maker (CODM) as defined
by Ind AS 108 Operating Segments. The CODM evaluates the Company's performance and allocates resources based on an analysis
of various performance indicators by industry classes. Accordingly, segment information has been presented.
The Company is structured into three reportable business segments such as Electricals, (includes Control Panels, Electric Vehicles
Charger) Plastics (includes components to textile machinery and automobiles) and Wind Power Generation.
Each segment item reported is measured at the measure used to report to the chief operating decision maker for the purposes of making
decisions about allocating resources to the segment and assessing its performance. Geographic information is based on business sources from
that geographic region. Accordingly the geographical segments are determined as Domestic ie., within India and External ie., Outside India.
Income and direct expenses in relation to segments are categorized based on items that are individually identifiable to that segment,
while the remainder of costs are apportioned on an appropriate basis. Certain expenses are not specifically allocable to individual
segments as the underlying services are used interchangeably. The management therefore believes that it is not practicable to provide
segment disclosures relating to such expenses and accordingly such expenses are separately disclosed as "unallocated" and directly
charged against total income.
46.2 Details of the items included in numerator and denominator for computing the above ratios.
a) Capital employed refers to sum of [Share Capital Reserves & Surplus - Intangible Assets Lease Liabilites
Deferred Tax liabilities Total Debt-Borrowings]
b) Earnings before interest and taxes = [Profits after current & deferred taxes Finance Costs Current Taxes
Deferred Taxes]
c) Earnings available for debt servicing = [ Net profit after current & deferred taxes Depreciation Finance cost [Incl
Interest on lease liabilities] - Profit on sale of assets - Dividend income - Interest income ]
47 On 21st November 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the
Industrial Relations Code 2020, the Code on Social Security, 2020 and the Occupational, Safety, Health and Working
Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published the
draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company
has assessed and accounted the incremental impact of these changes, consistent with the Labour Codes, draft rules,
FAQs and on the basis of the best information available. Considering the regulatory-driven and non-recurring nature,
the impact has been disclosed under Exceptional items in the financial results for the year ended March 31, 2026.
The Company continues to monitor the finalization of Central/State Rules and clarifications from the Government on
other aspects of the Labour Code as needed and would provide appropriate accounting effects on the basis of such
developments as needed.
48 Additional Regulatory Disclosures as per Schedule III of Companies Act, 2013
i) . There are no proceedings initiated or pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act ,1988 and rules made there under.
ii) . There are no transactions not recorded in the books of accounts that have been surrendered or disclosed as income
during the year in the tax assessments under the Income tax Act 1961.
iii) . The Company has not (which are material either individually or in the aggregate) advanced or loaned or invested any
funds (either from borrowed funds or share premium or any other sources or kind of funds) in any other person or
entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise,
that the Intermediary shall, whether, 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 provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries.
iv) . The Company has not (which are material either individually or in the aggregate) received any funds from any
person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or
otherwise, that the Company shall, whether, 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
v) . The Company has not been declared as a wilful defaulter by any bank or financial institution or government or any
government authority
vi) . As per the information available with the Company, the Company has no transactions with the companies struck off
under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956
vii) . The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year ended
March 31, 2026
viii) .No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the
Companies Act, 2013
ix) . The Company has not made investments in more than one layer of body corporate in accordance with provisions
of clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers)
Rules, 2017.
x) . The Company has maintained its books of accounts on an accounting software that contains a feature of audit trail
(edit log) facility. The backup of the books of accounts which are maintained in electronic form are stored on servers
physically located in India.
49 The financial statements were approved for issue by the Board of Directors on 20th May, 2026.
50 The final dividend on shares is recorded as liablity on the date of approval by the shareholders.Dividend declared by
the company are based on the profits available for distribution.The Board of Directors have recommended a dividend of
' 3.00/- (30%) each per equity share of the face value of ' 10/- each, subject to the approval of the shareholders at the
ensuing Annual General Meeting. This will result in a total dividend outgo of ' 73.74/- Lakhs.
51 Lease Arrangements:
Company as Lessee:
Rental Expense recorded for short-term leases was ' 46.45/-lakhs (Previous year ' 13.94/- lakhs).
Total Cash out flow for leases including short term lease was ' 46.45/- lakhs (Previous year ' 13.94/- lakhs).
52 The figures of the previous year have been regrouped / rearranged wherever necessary to correspond with the current
year figures.
All the figures have been rounded off to lakhs unless stated otherwise. Discrepancies, if any, in between the totals and
the sum of the items forming part of such totals are due to rounding off in the financial statements. Wherever figures, are
indicated as 0.00 lakhs, it represents value less than ' 0.01 lakhs due to rounding off to the nearest lakhs.
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