n) Provisions and contingencies

A provision is recorded when the Company has a present legal or constructive obligation as a result of past events,
it is probable that an outflow of resources will be required to settle the obligation and the amount can be reasonably
estimated.

Provision is made for estimated warranty claims in respect of products sold which are still under warranty at the end
of the reporting period. These claims are expected to be settled as and when warranty claims arise. Management
estimates the provision based on historical warranty claim information and any recent trends that may suggest future
claims could differ from historical amounts.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the
occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present
obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the
obligation. A contingent liability also arises where there is a liability that cannot be recognized because it cannot be
measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial
statements.

Contingent assets are not recognised in financial statements, unless they are virtually certain. However, contingent
assets are disclosed where inflow of economic benefits are probable.

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

o) Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the asset or liability, or

• In the absence of a principal market, in the most advantageous market for the asset or liability.

The company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.

• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

• Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement

is directly or indirectly observable.

• Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable.

For assets and liabilities that are recognised in the financial statements on a recurring basis, the company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the company has determined classes of assets and liabilities based on the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.

p) 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.

Initial recognition and measurement

Financial instruments are initially recognised when the entity becomes party to the contract.

Financial instruments are measured initially at fair value adjusted for transaction costs that are directly attributable to
the origination of the financial instrument where financial instruments not classified at fair value through profit or loss.

Transaction costs of financial instruments which are classified as fair value through profit or loss are expensed in the
statement of profit and loss.

Subsequent measurement of financial assets

For the purposes of subsequent measurement, the financial assets are classified in the following categories based on
the company's business model for managing the financial assets and the contractual terms of cash flows:

• those to be measured subsequently at fair value; either through OCI or through profit or loss

• those measured at amortised cost

For assets measured at fair value, changes in fair value will either be recorded in the statement of profit and loss or
OCI. For investments in debt instruments, this will depend on the business model in which investment is held. For
investments in equity instruments, this will depend on whether the company has made an irrevocable election at the
time of initial recognition to account for equity investment at fair value through OCI.

The company reclassifies debt investments when and only when its business model for managing those assets
changes.

Debt instruments at amortised cost

A 'debt instrument' is measured at the amortised cost if both the following conditions are satisfied:

• The asset is held within a business model whose objective is to hold assets for collecting contractual cash
flows,and

• The contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding.

A gain or loss on a debt investment that is subsequently measured at amortised cost and is not part of hedging
relationship is recognised in the statement of profit and loss when the asset is derecognised or impaired. Interest
income from these financial assets is included in finance income using effective interest rate (EIR) method.

Equity investments

All equity investments in the scope of Ind AS 109 Financial Instruments are measured at fair value. Equity instruments
which are held for trading are classified as at FVTPL. For all other equity instruments, the company may make an
irrevocable election to recognise subsequent changes in the fair value in OCI. 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 as at FVTOCI, then all fair value changes on the instrument,
excluding dividends, are recognized in OCI. There is no recycling of the amounts from OCI to the statement of profit
and loss, even on sale of equity instrument.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognised in the
statement of profit and loss.

Subsequent measurement of financial liabilities

For the purposes of subsequent measurement, the financial liabilities are classified in the following categories:

• those to be measured subsequently at fair value through profit or loss (FVTPL)

• those measured at amortised cost

Following financial liabilities will be classified under FVTPL:

• Financial liabilities held for trading

• Derivative financial liabilities

• Liability designated to be measured under FVTPL All other financial liabilities are classified at amortised cost.

For financial liabilities measured at fair value, changes in fair value will recorded in the statement of profit and loss
except for the fair value changes on account of own credit risk are recognised in Other Comprehensive Income (OCI).

Interest expense on financial liabilities classified under amortised cost category are measured using effective interest
rate (EIR) method and are recognised in statement of profit or loss.

Derecognition of financial instruments

The company derecognises a financial asset when the contractual rights to the cash flows from the financial asset
expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the
risks and rewards of ownership of the financial asset are transferred or in which the company neither transfers nor
retain substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.

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 or loss.

Impairment of financial assets

The company applies Expected Credit Loss (ECL) model for measurement and recognition of impairment loss on the
financial assets mentioned below:

• Financial assets that are debt instrument and are measured at amortised cost

• Financial assets that are debt instruments and are measured as at FVOCI

• Trade receivables under Ind AS 18

The impairment methodology applied depends on whether there has been a significant increase in credit risk. Details
how the company determines whether there has been a significant increase in credit risk is explained in the respective
notes.

For impairment of trade receivables, the company chooses to apply practical expedient of providing expected credit
loss based on provision matrix and does not require the Company to track changes in credit risk. Percentage of ECL
under provision matrix is determined based on historical data as well as futuristic information.

Derivative financial instruments

Initial measurement and subsequent measurement

The company uses derivative financial instruments, such as forward currency contracts to hedge 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. Any gains or losses arising
from changes in the fair value of derivatives are taken directly to profit or loss.

q) Dividend Distribution

The Company recognises a liability to make dividend distributions to equity holders of the Company when the
distribution is authorised and approved by the shareholders. Any interim dividend paid is recognised on approval by
Board of Directors. Dividend payable and corresponding tax on dividend distribution is recognised directly in equity.

r) Earnings per share (EPS)

Basic EPS is calculated by dividing the profit for the year attributable to equity holders of the company by the weighted
average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares
issued during the year and excluding treasury shares.

For the purpose of calculating diluteed earnings per share, the net profit for the period attributable to equity shareholders
and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive
potential equity shares. In computing diluted earnings per share, only potential equity shares that are dilutive and that
either reduces earnings per share or increases loss per share are included

s) Operating Segment

The Company has determined that the Chief Operating Decision Maker (CODM) is the Board of Directors (BoD).
Operating segments used to present segment information are identified based on the internal reports used and
reviewed by the BOD to assess performance and allocate resources.

An Operating Segment is the level at which discrete financial information is available. Business segments are identified
considering:

a) the nature of products and services

b) the differing risks and returns

c) the internal organisation and management structure, and

d) the internal financial reporting systems.

Revenue and expenses directly attributable to segments are reported under each reportable segment. Exceptional
items and other expenses which are not attributable or allocable to segments are disclosed separately. Assets and
liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other
assets and liabilities are disclosed as unallocable assets and liabilities.

The company is an operating company, primarily having operations in Extrusion Machinery and Battery Division.

The segment related disclosure for comparative period.

t) Significant accounting judgments, estimates and assumptions

The preparation of the financial statements in conformity with Ind AS, requires the management to make judgments,
estimates and assumptions that affect the amounts of revenue, expenses, current assets, non-current assets, current
liabilities, non-current liabilities, disclosure of the contingent liabilities and notes to accounts at the end of each reporting
period. Actuals may differ from these estimates.

Judgements

In the process of applying the Company's accounting policies, management have made the following judgements,
which have the most significant effect on the amounts recognised in the financial statements:

Useful life, method and residual value of property, plant and equipments

Plant and machineries and factory buildings contribute significant portion of the Company's Property, plant and
equipment. The Company estimates the useful life and residual value of assets. However the actual useful life and
residual value may be shorter / less or longer / more depending on technical innovations and competitive actions.
Further, Company is depreciating its plant and machineries and factory buildings by using straight line method based
on the management estimate that repairs / wear and tear to plant and machineries and factory buildings are consistent
over useful life of assets

Contingent liability

The Company has received orders and notices from tax authorities in respect of direct taxes and indirect taxes.
Management regularly analyses current information about these matters and discloses the information of related
contingent liability. In making the decision regarding the need for creating loss provision, management considers the
degree of probability of an unfavourable outcome and the ability to make a sufficiently reliable estimate of the amount
of loss. The filing of a suit or formal assertion of a claim against the Company or the disclosure of any such suit or
assertions, does not automatically indicate that a provision of a loss may be appropriate.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year, are described below. The Company based its estimates and assumptions on parameters available when
the financial statements are prepared. Existing circumstances and assumptions about future developments, however,
may change due to market conditions or circumstances arising that are beyond the control of the Company. Such
changes are reflected in the assumptions when they occur.

Defined benefit obligation

The cost of the defined benefit plans and other post-employment benefits and the present value of the obligations
are determined using actuarial valuation. An actuarial valuation involves making various assumptions that may differ
from actual developments in the future. These include the determination of the discount rate, future salary increases,
mortality rates and future post-retirement medical benefit increase. Due to the complexities involved in the valuation and
its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions
are reviewed at each reporting date.

The parameter most subject to change is the discount rate. In determining the appropriate discount rate, management
considers the interest rates of government bonds in currencies consistent with the currencies of the post-employment
benefit obligations and extrapolated as needed along the yield curve to correspond with the expected term of the
defined benefit obligation. The mortality rate is based on publicly available mortality tables. Those mortality tables tend
to change only at intervals in response to demographic changes. Future salary increases are based on the expected
future inflation rates for the country.

Further details about defined benefit obligations are provided in the respective note prepared elsewhere in the financial
statement.

Deferred Tax

Deferred tax assets are recognised for all deductible temporary differences including the carry forward of unused tax
credits. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against
which the deductible temporary differences, and the carry forward of unused tax credits can be utilized.

Estimation and underlying assumptions are reviewed on ongoing basis. Revisions to estimates are recognised
prospectively.

u) Recent accounting pronouncements

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 impact in its financial statements.

Notes : Purpose and use of each Reserve1 Securities Premium Reserve

According to Section 52 of the Act, Securities premium can be used for the following purposes

• For the issue of fully paid bonus share capital

• For meeting the preliminary expenses incurred by the company

• For the meeting the expenses, commision or discount incurred concerning securities previously issued by the
company

• For ensuring the availiablity of the premium on the redemption of redeemable debentures of preference share
capital of the company

• For funding a scheme of buy-back of securities which is conducted in compaliance with the provisions of section
68 of the company Act

2 General Reserve

General reserve is referred to as the reserve fund that is created by keeping aside a part of profit earned by the
business during the course of an accounting period for fulfilling various business needs like meeting contingencies,
offsetting future losses enhancing the working capital, paying dividends to the shareholders etc

3 Retained Earnings

Retained earnings are the portion of a company's cumulative profit that is held or retained and saved for future use
Retained earnings could be used for funding an expansion or paying dividends to shareholders at a later date.

Notes:

(i) Working Capital loans are secured by hypothecation of Company's all present and future movable assets and book
debts. The fund based limits are payable on demand basis to banks.

(ii) Term loan of ? 0 crores (2025: ? 5.35 crores) is secured by first Charge by way of mortgage on immovable fixed
Assets (Industrial Land & Building) at Pune, Maharashtra and First Charge by way of Hypothecation of movable
fixed assets at Pune, Maharashtra. There was no default continuing or otherwise as at the Balance Sheet date, in
repayment of any of the above borrowings.

(iii) The company has used the borrowed funds for the specific purpose for which it was taken on the Balance Sheet date.

(iv) The quarterly returns or statements of current assets, filed by the Company with banks or financial institutions are in
agreement with the Books of Accounts of the Company.

34.2 Fair value hierarchy

Financial assets and liabilities include cash and cash equivalents, other balances with banks, trade receivables, loans, other
financial assets, trade payables and other financial liabilities whose fair values approximate their carrying amounts largely
due to the short term nature of such assets and liabilities.

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into
three Levels of a fair value hierarchy. The three levels are defined based on the observability of significant inputs to the
measurement, as follows:

Level 1: Hierarchy includes financial instruments measured using quoted prices (unadjusted) in active markets for identical
assets or liabilities that the entity can access at the measurement date.

Level 2: Hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets
in markets that are not active.

Level 3: Unobservable inputs for the asset or liability.

Fair value of financial assets and financial liabilities measured at amortised cost :

The management believes that the fair values of non-current financial assets (e.g. loans and others), current financial assets
(e.g., cash and cash equivalents, trade receivables, loans and others excluding other derivative assets) and current financial
liabilities (e.g. trade payables and other payables excluding derivative liabilities) approximate their carrying amounts.

The Company has not performed fair valuation of its investment in unquoted equity shares as mentioned in note no. 3 which
are classified as FVTOCI, as the Company believes that impact of change on account of fair value is insignificant.

34.3 Financial risk management

The Company's activities exposes it to market risks, credit risks and liquidity risks. In order to minimise any adverse effets
on the financial performance of the Company, derivative financial instruments such as forward foreign exchange contract
are entered to hedge the foreign currency risk exposures. Derivatives are used exclusively for hedging purposes and not as
a trading or speculative purposes.

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

a. Credit risk

Credit risk is the risk of financial losses to the Company if a customer or counterparty to financial instruments fails to
discharge its contractual obligations. It arises primarily from the Company's receivables from customers. To manage
this, the Company periodically assesses the key accounts receivable balances. As per Ind-AS 109 : Financial
Instruments, the Company uses expected credit loss model to assess the impairment loss or gain.

The carrying amount of trade and other receivables and other financial assets represents the maximum credit exposure.
i. Trade receivables

The management has established accounts receivable policy under which customer accounts are regularly
monitored. The Company has a dedicated sales team which is responsible for collecting dues from the customer
within stipulated period. The management reviews status of critical accounts on a regular basis.

An impairment analysis is performed at each reporting date on consolidated basis for similar category of customer.
The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.

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.

ii. Financial instruments and Cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company's treasury department
in accordance with Company's policy. Investments of surplus funds are made only with approved counterparties
and within credit limits assigned to each counterparty. Company monitors rating, credit spreads and financial
strength of its counter parties. Based on ongoing assessment Company adjust it's exposure to various
counterparties.

b. Liquidity risk

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

The Company has a view of maintaining liquidity and to take minimum possible risk while making investments. In
order to maintain liquidity, the Company invests its excess funds in short term liquid assets like liquid mutual funds.
The Company monitors its cash and bank balances periodically in view of its short term obligations associated with its
financial liabilities.

c. Market risk

Market risk is a risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market prices. The objective of market risk management is to manage and control market risk exposures within acceptable
parameters, while optimizing the return. Market risk comprises three types of risk interest rate risk, currency risk and
other price risk such as equity price risk. Financial instruments affected by market risk include borrowings, trade and other
payables, foreign exchange forward contracts, security deposit, trade and other receivables, deposits with banks.

i. Foreign currency risk

Foreign currency risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because
of changes in foreign exchange rate. Company transacts business in its functional currency (INR) and in other
foreign currencies. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to
the Company's operating activities, where revenue or expense is denominated in a foreign currency. The Company
manages its foreign currency risk by hedging foreign currency payables using foreign currency forward contracts
or foreign currency options, principal only swaps etc. The Company negotiates the terms of those foreign currency
forward contracts to match the terms of the hedged exposure.

35 Capital management

The Company's capital includes issued Equity Capital, Share Premium and Free Reserves.

The Company's policy is to meet the financial covenants attached to the interest-bearing borrowings by maintaining a strong
capital base. The Company aims to sustain investor, creditor and market confidence so as to leverage such confidence for
future capital/debt requirements.

Management monitors the return on capital earned, the capital/debt requirements for various business plans under
consideration and determines the level of dividends to equity shareholders.

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

The company has done contribution in Superannuation Scheme and National Pension Scheme. The company has
no further payment obligations once the contributions have been paid. The contributions are recognised as employee
benefit expenses when they are due.

An amount of Rs 528.29 lakhs (31st March 2025: 260.09 lakhs) is recognised as an expense and included in "Employee
Benefit Expense" in the Statement of Profit and Loss Account.

Note:

The above amount includes the share of employer only.

2 Defined benefit plan

(i) The defined benefit plan comprises gratuity, which is funded.

(ii) The company has a defined benefit gratuity plan The gratuity scheme of a company is covered under a group

gratuity cum life assurance cash accumulation policy offered by LIC of India

Actuarial gains and losses in respect of defined benefit plans are recognized in the Other Comprehensive Income
(OCI).

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Gratuity is

a benefit to an employee in India based on 15 days last drawn salary for each completed year of service with a

vesting period of five years.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk and interest rate risk.

Note:

As the post-employment benefits is provided on an actuarial basis for the Company as a whole, the amount pertaining
to key management personnel is not ascertainable and therefore not included above.

40 Lease transactions

Company as Lessee The Company has taken office buildings & warehouses on lease for a tenure of 3 to 5 years. The
Company's obligations under its leases are secured by the lessor's title to the leased assets. Generally, the Company
is restricted from assigning and subleasing the leased assets. There are no variable lease payments and residual value
guarantees for these leases. The leases are renewable on mutually agreeable terms.

The Company applied Ind AS 116 for the lease property and the impact is given in financial is as follows :-

The Company applied the following method for Ind AS 116.

1. Applied the exemption not to recognize Right-of-use assets and liabilities for leases with less than 12 months of lease
term.

2. While determining the lease term option to extend or terminate the lease has been considered.

44 Distribution made and proposed

The Board of Directors has recommended payment of Dividend of ? 0.00 per fully paid Equity Shares (31 March 2025:
? 2.50 ).This proposed dividend is subject to the approval of Shareholders in the ensuing Annual General Meeting.
This dividend is not recognized in the books of account at the end of the reporting period.

45 All amounts which became due, for transfer to the credit of Investor Education and Protection Fund, as of 31 March 2026,
have been transferred to that fund.

46 Other Statutory Information

a) Loans and Advances in the nature of Loan to Related Parties:

The Company has not granted any Loans or Advances in the nature of loans to promoters, directors, KMPs and the
related parties (as defined under Companies Act, 2013), either severally or jointly with any other person as on 31
March 2026.

b) Relationship with Struck off Companies:

As per our knowledge, the Company do not have any transactions with struck off companies.

c) Registration of charges or satisfaction with Registrar of Companies:

The Company has no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory
period.

d) Compliance with number of layers of companies:

The Company complies with the number of layers prescribed under Clause 87 of Section 2 of the Act, read with the
Companies (Restriction on number of layers) Rules, 2017.

(e) Compliance with approved Scheme (s) of Arrangements Accounted as per Scheme & Ind AS

Neither the Company has approached to nor any Competent Authority has approved any scheme of arrangements so
as to account for in the books of account of the Company, in order to disclose any deviation in that regard.

(f) Loans, Guarantee, Security given by Company to Intermediary and it is giving to others on behalf of Company:

The Company has neither advanced nor loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries).

(g) Crypto Currency or Virtual Currency:

The Company has neither traded nor invested in Crypto currency or Virtual currency during the financial year.

(h) Benami Property:

The Company does not have any Benami property, and hence no proceeding has been initiated or pending against
the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
Rules made thereunder.

(i) Undisclosed Income:

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 account.

(j) Revaluation

The company has not revalued its property, plant & equipment during the year.

(k) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government
or any government authority.

47 Previous year's figures have been regrouped wherever considered necessary to make them comparable with those of the
current year.