m. Provisions (other than employee benefits)

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. Expected future operating losses are not provided for

Where the Company expects some or all of the expenditure required to settle a provision will be reimbursed by another party,
the reimbursement is recognised when, and only when, it is virtually certain that reimbursement will be received if the entity
settles the obligation. The reimbursement is treated as a separate asset.

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as
finance cost.

Warranties

A provision for warranties is recognised when the underlying products are sold, based on historical warranty data and a
weighting of possible outcomes against their associated probabilities.

n. Leases

At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease
if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

i. As a lessee

At commencement or on modification of a contract that contains a lease component, the Company allocates the consideration
in the contract to each lease component on the basis of its relative stand-alone prices. However, for the leases of property
the Company has elected not to separate non-lease components and account for the lease and non-lease components as a
single lease component.

The Company recognised 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 amortised using the straight-line method from the commencement date to the earlier
of the end of the useful life of the right-of-use asset or the end of the lease term, unless the lease transfers ownership of the
underlying asset to the Company by the end of the lease term or the cost of the right-of-use asset reflects that the Company
will exercise a purchase option. In that case the right-of-use asset will be amortised over the useful life of the underlying
asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is
periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

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 interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's
incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate.

The Company determines its incremental borrowing rate by obtaining interest rates from various external financing sources
and makes certain adjustments to reflect the terms of the lease and type of the asset leased.

Lease payments included in the measurement of the lease liability comprise the following:

• fixed payments, including in-substance fixed payments;

• variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the
commencement date;

• amounts expected to be payable under a residual value guarantee; and

• the exercise price under a purchase option that the Company is reasonably certain to exercise, lease payments in an
optional renewal period if the Company is reasonably certain to exercise an extension option, and penalties for early
termination of a lease unless the Company is reasonably certain not to terminate early.

The lease liability is measured at amortised cost using the effective interest method. 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, if the Company changes its assessment of whether it will exercise a
purchase, extension or termination option or if there is a revised in-substance fixed lease payment.

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.

Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and lease liabilities for leases of low-value assets and short-term
leases. The Company recognised the lease payments associated with these leases as an expense in profit or loss on a straight¬
line basis over the lease term.

ii. As a lessor

At inception or on modification of a contract that contains a lease component, the Company allocates the consideration in the
contract to each lease component on the basis of their relative stand-alone prices.

When the Company acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease.

To classify each lease, the Company makes an overall assessment of whether the lease transfers substantially all of the risks
and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it
is an operating lease. As part of this assessment, the Company considers certain indicators such as whether the lease is for the
major part of the economic life of the asset.

When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It
assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with
reference to the underlying asset. If a head lease is a short-term lease to which the Company applies the exemption described
above, then it classifies the sub-lease as an operating lease.

If an arrangement contains lease and non-lease components, then the Company applies Ind AS 115 to allocate the consideration
in the contract.

The Company applies the derecognition and impairment requirements in Ind AS 109 to the net investment in the lease. The
Company further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the
lease.

The Company recognised lease payments received under operating leases as income on a straight-line basis over the lease
term as part of 'other income'.

o. Borrowing costs

Borrowing costs are interest and other costs (including exchange differences relating to foreign currency borrowings to
the extent that they are regarded as an adjustment to interest costs) incurred in connection with the borrowing of funds.
Borrowing costs directly attributable to acquisition or construction of an asset which necessarily take a substantial period of
time to get ready for their intended use are recognised as part of the cost of that asset. Other borrowing costs are recognised
as an expense in the period in which they are incurred.

p. Contingent liabilities

Contingent liability is a possible obligation arising 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 or a present obligation
that arises from past events but is not recognised because it is not probable that an outflow of resources embodying economic
benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability.
The Company does not recognise a contingent liability but discloses its existence in the standalone financial statements.

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

q. Assets held for sale

Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally
through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at
the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising
from employee benefits, financial assets and contractual rights under insurance contracts, which are specifically exempt from
this requirement. Property, plant and equipment and intangible are not depreciated, or amortised assets once classified as
held for sale. Assets and liabilities classified as held for sale are presented separately from other items in the balance sheet.

r. Earnings per sharei. Basic Earnings Per Share

Basic earnings per share is calculated by dividing the profit (or loss) attributable to the owners of the Company by the weighted
average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding
during the year is adjusted for bonus issue, bonus element in a rights issue to existing shareholders, share split and reverse
share split (consolidation of shares).

ii. Diluted Earnings Per Share

Diluted earnings per share is computed by dividing the profit (considered in determination of basic earnings per share) after
considering the effect of interest and other financing costs or income (net of attributable taxes) associated with dilutive
potential equity shares by the weighted average number of equity shares considered for deriving basic earnings per share
adjusted for the weighted average number of equity shares that would have been issued upon conversion of all dilutive
potential equity shares.

s. Investment in subsidiaries

Investment in subsidiaries (under Ind AS 27) are carried at cost, less any impairment in the value of investment, in these
standalone financial statements.

t. Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision
maker. The chief operating decision maker is considered to be the Chairman and Managing Director and Executive Director who
makes strategic decisions and is responsible for allocating resources and assessing performance of the operating segments.

u. Cash and cash equivalents

Cash and cash equivalents comprises of 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.

v. Dividend distribution

Dividends paid are recognised in the period in which the interim dividends are approved by the Board of Directors of the
Company, or in respect of the final dividend when approved by shareholders of the Company.

w. Recent pronouncements

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

Ind AS 1 - Presentation of Financial Statements - For accounting periods beginning on or after 1 April 2026, when an entity
breaches any covenant of a long-term loan arrangement on or before the end of the reporting period with the effect that
the liability becomes payable on demand, it classifies the liability as current, even if the lender agreed, after the reporting
period and before the approval of the financial statements for issue, not to demand payment as a consequence of the breach.
An entity classifies the liability as current because, at the end of the reporting period, it does not have the right to defer its
settlement for at least 12 months after that date. However, an entity classifies the liability as non-current if the lender agreed
by the end of the reporting period to provide a period of grace ending at least 12 months after the reporting period, within
which the entity can rectify the breach and during which the lender cannot demand immediate repayment. This amendment
is to be applied retrospectively for annual reporting periods beginning on or after 1 April 2026, in accordance with Ind AS 8,
Accounting Policies, accounting Estimates and Errors.

The Company has considered these amendments and expects that there will be no material impact on the standalone financial
statements.

Notes:-

(i) Receivables due from related parties was ' 500.55 lakhs as at March 31, 2026 (' 843.98 lakhs as at March 31, 2025). Refer
Note 33 for details.

(ii) The Company has availed working capital facilities which are secured by first pari passu charge on entire book debts. Refer
Note 15 for details.

(iii) Information about the Company's exposure to credit risk, market risks, fair value measurement and impairment losses is
included in Note 31.

(iv) Debts due by private companies in which there is a common director are ' 66.03 lakhs (As at 31 March 2025 ' 100.88 lakhs).
Refer Note 33 for details.

(v) Trade receivables are non interest bearing and credit period generally falls in the range of 15 to 60 days terms.

the Companies Act, 2013, the provisions of the SEBI (Buy Back of Securities) Regulations, 2018, Article 62 of the Articles
of Association of the Company and pursuant to the resolutions passed by the Board of Directors of the Company at their
meeting held on May 16, 2019, the Company had bought back 3,839,804 equity shares of ' 2 each in electronic form.

e) During the financial year 2021-22, the Qualified Institutions Placement Committee ("QIP Committee") in its meeting held
on September 24, 2021 approved the allotment of 5,600,000 Equity Shares of face value of ' 2 each to eligible qualified
institutional buyers at the issue price of ' 242 per Equity Shares (including a premium of ' 240 per Equity Share) against the
Floor Price of ' 254.55 per Equity Shares, aggregating to ' 13,552.00 lakhs pursuant to the issue in accordance with the SEBI
ICDR Regulations, 2018.

f) Rights, preferences and restrictions attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of ' 2/-. Each holder of equity shares
is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled
to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in
proportion to the number of equity shares held by the shareholders. The equity shareholders are entitled to receive dividend
as declared from time to time.

Nature and purpose of reserves and surplusa) General reserve

General reserve are free reserves of the Company which are kept aside out of the Company's profit to meet the future require¬
ments as and when they arise.

b) Capital redemption reserve

In accordance with Section 69 of the Companies Act, 2013, the Company created a capital redemption reserve equal to the
nominal value of the shares bought back as an appropriation from the general reserve.

c) Securities premium

Securities premium is used to record the premium received on issue of shares. It is utilised in accordance with the provisions
of the Companies Act, 2013.

d) Treasury Shares

Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity and presented
as treasury shares. The Company holds 63,120 (82,356 as at March 31, 2025) number of its shares.

e) Share options outstanding reserve

The share option outstanding account is used to record value of equity-settled share based payment transactions with
employees. The amount recorded in this account are transferred to retained earnings upon exercise of stock options by
employees.

*Provision for warranty

The Company gives warranties on certain products and undertake to repair or replace them, if they fail to perform satisfactorily
during the free warranty period. Such provisions represents the amount of the expected cost of meeting the obligations of such
rectification/ replacement. The timing of the outflow is expected to be within next year. The provision is based on estimates made
from historical warranty data associated with similar products and services. The Company expect to incur the related expenditure
within next year.

Supplier finance arrangements

In a supplier finance arrangement, the Company's suppliers may elect to receive early payment of their invoices from a bank.
Under the arrangement, the bank agrees to pay amounts due to participating suppliers in respect of invoices owed by the Com¬
pany and the Company repays the bank at a later date. The principal purpose of this arrangement is to facilitate efficient payment
processing and provide the willing suppliers early payment terms, compared with the related invoice payment due date, interest
due is paid by the supplier to the bank.

The Company has not derecognised the original trade payables relating to the arrangement because neither a legal release was
obtained nor was the original liability substantially modified on entering into the arrangement.

From the Company's perspective, the arrangement does not significantly extend payment terms beyond the normal terms agreed
with other suppliers that are not participating; however, the arrangement does provide participating suppliers with the benefit
of early payment. The Company therefore includes the amounts subject to the arrangement within trade payables because the
nature and function of these payables remains the same as those of other trade payables.

All payables under the arrangement are classified as current as at 31 March 2026.

Additional information about the Company's trade payables is provided in the table below.

Transition (first-time application)

The Company applied transitional relief available under Supplier Finance Arrangements (Amendments to Ind AS 7 and Ind AS 107)
and has not provided comparative information in the first year of adoption.

Non cash changes

There were no significant non-cash changes in the carrying amount of financial liabilities subject to supplier finance arrangements.

The payments to the bank are included within operating cash flows because they continue to be part of the normal operating cycle
of the Company and their principal nature remains operating— i.e., payments for the purchase of goods and services.

30. Employee benefit expensesA. Defined Benefit Plans

In accordance with the Payment of Gratuity Act, 1972, the Company provides for gratuity, as defined benefit plan. The gratuity
plan provides for a lump sum payment to the employees at the time of separation from the service on completion of vested year
of employment i.e. five years. The liability of gratuity plan is provided based on actuarial valuation as at the end of each financial
year based on which the Company contributes the ascertained liability to Life Insurance Corporation of India by whom the plan
assets are maintained. Employees are not required to contribute to the plan.

These plans typically expose the Company to actuarial risks such as: investment risk, inherent interest rate risk , longevity risk and
salary risk.

Investment Risk

The plan assets are subject to market (investment) risk.

Interest Rate Risk

The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined benefit
obligation will tend to increase.

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

Higher than expected increases in salary will increase the defined benefit obligation.

The present value of the defined benefit obligation, and the related current service cost, were measured using the projected unit
credit method.

B. Compensated absences (unfunded)

The leave obligations cover the Company's liability for sick and earned leaves. The Company does have partial unconditional right
to defer settlement for the obligation shown as current provision. However based on past experience, the Company does not
expect all employees to take the full amount of accrued leave or require payment within the next 12 months, therefore current
and non-current classification has been considered based on the independent actuarial report. Amount of ' 270.03 lakhs# (March
31, 2025: ' 99.80 lakhs) has been recognised in the Standalone Statement of Profit and Loss.

#One-time impact of New Labour Codes : Effective November 21, 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 has
published the final Central Rules under all four labour codes on 8th May 2026 and FAQs to enable assessment of the financial
impact due to changes in regulations. The Company has considered restructured compensation of its employees and assessed
the impact of the changes, consistent with the Labour codes, rules and FAQs. The Company has recognised the same as employee
benefit expenses in current year.

C. Defined contribution plans

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying employees
towards provident fund and employee state insurance scheme which are defined contribution plans. The Company has no
obligations other than to make the specified contributions. The contributions are charged to the standalone statement of profit
and loss as they accrue. The amount recognised as an expense towards contribution to provident and other funds for the year
aggregated to ' 336.33 lakhs (March 31, 2025: ' 324.29 lakhs).

B) Fair value hierarchy

The fair value of financial instruments as referred to in note (A) above has been classified into three category depending on the
inputs used in valuation technique. The hierarchy gives the highest priority to quoted price in active markets for identical assets
or liabilities [Level 1 measurements] and lowest priority to unobservable inputs [Level 3 measurements].

The categories used are as follows:

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

Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as
prices) or indirectly (i.e. derived from prices).

Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

# Investment in bonds and debenture are measured at amortised cost. Fair value of quoted bonds and debentures has been
determined on the basis of quoted market rate as on reporting date. Fair value of unquoted bonds and debenture has been provided
by an independent broker and has been determined based on quoted prices for identical assets in markets that are not active.

* The carrying amounts of trade receivables, cash and cash equivalents, bank balances other than cash and cash equivalents, loans,
other current financial assets which primarily comprise of finance lease receivables, security deposits receivable, receivable from
banks on account of maturity of bank deposits and rental income receivable and trade payables, short term borrowings and other
current financial liabilities which comprise of unclaimed dividends, security deposits payables, capital creditors and employee
related payables approximates the fair values, due to their short-term nature.

##The fair value of other non current financial assets represents finance lease receivables, bank deposits (due for remaining
maturity after twelve months from the reporting date), and security deposits receivables has been determined based on
discounted cash flow technique (present value of expected payments, discounted using a risk-adjusted discount rate).

**The lease liabilities represent non-current and current lease liabilities, for which fair value is not required to be disclosed.

The fair value of mutual fund units is based on the net asset value (NAV) as stated by the issuers of these mutual fund units in the
published statement as at the Balance Sheet date. The fair value of investments in investment in infrastructure investment trust
and quoted equity shares is based on the quoted price of underlying instrument.

Fair value for un-quoted portfolio management service, un-quoted alternative investment fund, un-quoted equity shares and
un-quoted bonds and debentures has been provided by an independent broker and has been determined based on quoted prices
for identical assets in markets that are not active.

Transfers between Levels 1, Level 2 and Level 3

There has been no transfer between level 1, level 2 and level 3 for the years ended March 31, 2026 and March 31, 2025.

C) Financial Risk Management

The Company's activities expose it to market risk, liquidity risk and credit risk. This note explains the source of risk which the entity
is exposed to and how the entity manages the risk and the related impact in the financial statements.

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management
framework.

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

- credit risk

- liquidity risk

- market risk

The Company's risk management is carried out by a treasury department under the supervision of Chief Financial Officer of the
Company. The treasury department identifies and evaluates financial risks. The Board of Directors provides written principles for
overall risk management, as well as policies covering specific areas, such as interest rate risk, liquidity risk etc.

The Risk management Committee of the Company 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.

C.1) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations.

The carrying amounts of financial assets represent the maximum credit exposure.

Expected credit losses for financial assets other than trade receivables and finance lease receivables

The Company maintains its cash and cash equivalents and bank deposits with reputed banks. The credit risk on these instruments
is limited because the counterparties are bank with high credit ratings assigned by domestic credit rating agencies. Hence, the
credit risk associated with cash and cash equivalent and bank deposits is relatively low.

Loan comprises loans given to employees, which would be adjusted against salary of the employees and hence credit risk
associated with such amount is also relatively low.

The Company maintains its investment in bonds and debentures and other investments with reputed financial institutions and
corporates. The Company maintains its investments in bonds and debentures with issuers that hold a credit rating of 'A' or higher,
as assigned by domestic credit rating agencies. The credit risk on these instruments is limited because the counterparties are
primarily financial institutions and corporates with high creditworthiness Hence, the credit risk associated with these investments
is relatively low.

Security deposits are given for operational activities of the Company and will be returned to the Company as per the contracts
with respective vendors. The Company monitors the credit ratings of the counterparties on regular basis. These security deposits
carry very minimal credit risk based on the financial position of parties and Company's historical experience of dealing with the
parties.

Receivable from banks on account of maturity of bank deposits is limited because the counterparties are bank with high credit
ratings assigned by domestic credit rating agencies. Hence, the credit risk associated with receivable from banks on account of
maturity of bank deposits is relatively low.

Expected credit losses for trade receivables and finance lease receivable

Credit risks related to receivables is managed by each business unit subject to the Company's policy, procedures and control
relating to customer credit risk management. Outstanding customer receivables are regularly monitored.

An impairment analysis is performed at each reporting date on trade receivables and finance lease receivable by using lifetime
expected credit losses as per simplified approach wherein the weighted average loss rates are analysed from the historical trend
of defaults . Such provision matrix has been considered to recognize lifetime expected credit losses on trade receivables and
finance lease receivable (other than those where defaults criteria are met).

Impairment loss on finance lease receivable is not recognised since the same is not material considering size and nature of finance
lease receivable.

The Company evaluates the concentration of risk with respect to trade receivables and finance lease receivable as low, since its
customers are from various industries, jurisdictions and operate in independent markets. These receivables are written off when
there is no reasonable expectation of recovery.

The Company considers reasonable and supportive forward-looking information by calculating forward looking loss rate based
upon Vasicek methodology. For the same, the Company has identified India Gross Domestic Product as an appropriate factor
based on qualitative criteria.

Liquidity risk is the risk that the Company will encounter difficulty in meeting its obligations associated with financial liabilities. The
investment philosophy of the Company is capital preservation and liquidity in preference to returns. The Company consistently
generates sufficient cash flows from operations and has access to multiple sources of funding to meet the financial obligations and
maintain adequate liquidity for use. The Company manages liquidity risk by maintaining adequate reserve, banking facilities and
reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of
financial assets and liabilities.

Maturity profile of financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based
on contractual undiscounted payments.

As described in supplier finance arrangements, the Company also participates in a supplier finance arrangement with the principal
purpose of facilitating efficient payment processing of supplier invoices and providing the willing suppliers early payment terms
compared with the related invoice payment due date. The arrangement allows the Company to centralise payments of trade
payables to the bank rather than paying each supplier individually. (Refer Note 18)

From the Company's perspective, the arrangement does not significantly extend payment terms beyond the normal terms agreed
with other suppliers that are not participating.

C.3) Market risk

Market risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market prices.
Market risk comprises three types of risk namely : price risk, currency risk and interest rate risk. The objective of market risk
management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

Price risk

The Company invests in mutual funds, alternative investment fund, equity shares, portfolio management service, infrastructure
investment trust and limited liability partnership firm, bonds and debentures, which are susceptible to market price risk arising
from uncertainties about future values of the investment securities. In order to manage its price risk arising from investments,
the Company diversifies its portfolio in accordance with the limits set by the risk management policies. For such investments, a
2% of carrying value, increase at the reporting date would have increased profit and equity and an equal change in the opposite
direction would have decreased profit and equity.

Foreign currency risk

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign exchange
rates. Exposure arises primarily due to exchange rate fluctuations between the functional currency and other currencies from the
Company's operating, investing and financing activities. The Company undertakes transactions denominated in foreign currency
(mainly US Dollar, Euro, GHS, GYD and CNY) which are subject to the risk of exchange rate fluctuations. Considering the low
volume of foreign currency transactions, the Company's exposure to foreign currency risk is limited hence the Company does not
use any derivative instruments to manage its exposure.

Foreign currency risk exposure in USD:

The Company's exposure to foreign currency risk at the end of the reporting period expressed in ' are as follows

The Company's interest rate risk arises from investment in bonds and debentures and borrowings. Investment in bonds and
debentures and borrowings at variable rates expose the Company to cash flow interest rate risk, whilst investment in bonds and
debentures and borrowings at fixed rates expose the Company to fair value interest rate risk. The risks are managed by monitoring
an appropriate mix between fixed and floating rate borrowings.

Exposure to interest rate risk :- The interest rate profile of the Company's interest-bearing financial instruments as reported to the
management of the Company is as follows.

Fair value sensitivity analysis of interest rate

The Company does not account for any fixed-rate financial assets or financial liabilities at fair value through profit or loss. Therefore,
a change in interest rates at the reporting date would not affect profit or loss.

A reasonably possible change of 50 basis points (bps) in interest rates at the reporting date would have increased/ (decreased)
equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency
exchange rates, remain constant.

32 Capital Management

The primary objective of the Company's capital management is to safeguard the Company's ability to continue as a going concern,
maintain a strong credit rating and a healthy capital ratio to support the business and to enhance shareholder value. The Company
manages its capital structure and makes adjustments to it in light of changes in economic conditions and business strategies to
maintain or adjust the capital structure, issue new shares or raise and repay debts. The Company's capital management objectives,
policies or processes were unchanged during the year.

36 Qualified Institutional Placement (QIP)

During the year ended March 31, 2022, the Company had completed the Qualified Institutional Placement ("QIP") under Chapter
VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, pursuant to
which 5,600,000 equity shares having a face value of ' 2 each were issued and allotted, at an issue price of ' 242 per equity share
(including a securities premium of ' 240 per equity share), aggregating to ' 13,552 lakhs.

The proceeds of such Qualified Institutional Placement amounts to ' 13,173.87 lakhs (net of issue related expenses amounting
' 378.13 lakhs which had been adjusted against securities premium). As per the placement document, QIP proceeds were to be
utilised for funding the long term growth of its existing businesses; organic or inorganic growth, making strategic acquisitions;
financing other long term capital, working capital, and general corporate requirements; pre-payment and / or repayment of loans.
The fund raised were utilised uptill the year ended March 31, 2023 and there is no deviation in use of proceeds from the objects
stated in the placement document for the QIP.

37 Leases

a) Leases as Lessee

The Company leases plant and machinery, office building, factory building & leasehold land. The leases typically run with an
option to renew the lease after that date on mutual consent of both the parties.

Information about leases for which the Company is a lessee is presented below :

b) Leases as Lessor
Finance lease

During the year ended March 31, 2023, the Company entered into agreements with customers ("the lessee") for lease of products.
The lease term has been considered as the entire tenure of the agreement. The lessee has an option to purchase the assets at
expiry of the agreement. The Company has not sold any product on finance lease during the current financial year.

A finance lease receivable at an amount equal to the net investment in the lease represented by discounted value of recovery fee
and is recorded in the balance sheet with a corresponding credit to statement of profit and loss as revenue from sale of products.
The undiscounted value of such lease receivable, though, credited as revenue, but will be billed and collected from customer over
the period of lease term. Interest income on such finance lease receivable is recognized over the life of the lease.

The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received
after the reporting date.

39. Segment information

The Company has presented segment information in the consolidated financial statements. Accordingly, in terms of paragraph 4 of
Ind AS 108 'Operating Segments', no disclosures related to segments are presented in these standalone financial statements.

40. Revenue from operations

a) Disaggregation of revenue from contracts with customers

In the following table, revenue from contracts with customers is disaggregated by major products and timing of revenue
recognition. The Company has performed a disaggregated analysis of revenues considering the nature, amount, timing and
uncertainty. The table also includes a reconciliation of the disaggregated revenue with the Company's reportable segments.

44. Share- based payment arrangements1. Share option plans (equity-settled)A. Description of share-based payment arrangements

"During the year ended March 31, 2024, the Company implemented Action Construction Equipment Limited Stock Option Scheme,
2021. The Action Construction Equipment Limited Stock Option Scheme was approved by the shareholders at the 27th Annual
General Meeting held on September 03, 2021, under which the Board of Directors of the Company was authorised to create, grant,
offer, issue and allot, in one or more tranches, such number of Employee Stock Options ("Options") to the eligible employees of
the Company not exceeding in the aggregate 5% of the issued equity share capital of the Company as on March 31, 2021.

Pursuant to the Action Construction Equipment Limited Employees Stock Option Scheme - 2021 ("Scheme"), the Company
has issued stock options to its employees on such terms as may be approved by the Board of directors or the Nomination and
Remuneration Committee. During the current year, the Company has granted share options to its eligible employees, which are
convertible into equivalent number of equity shares once exercised. The options were granted on the dates as mentioned in the
table below."

47. Additional regulatory information pursuant to the requirement in Division II of Schedule III to the Companies Act 2013

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

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

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

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

(iii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall:

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

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

(iv) The Company has complied with the number of layers prescribed under the Companies Act, 2013.

(v) The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year.

(vi) The Company has not entered into any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search
or survey or any other relevant provisions of the Income Tax Act, 1961).

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

(viii) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both
during the current or previous year.

(ix) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies
beyond the statutory period.

(x) The Company have not been declared wilful defaulter by any bank or financial institution or government or any government
authority.

(xi) The Company has not granted any loans to the promoters, directors, Key Managerial Person's and the related parties (as
defined under Companies Act, 2013), either severally or jointly with any other person which are repayable on demand or
without specifying any terms or period of repayments as at March 31, 2026 (as at March 31, 2025: Nil).

(xii) The Company(as per the provisions of the Core Investment Companies (Reserve Bank) Directions, 2016) does not have Core
Investment Company (CIC).

(xiii) The Company has borrowings from banks on the basis of security of current assets. The quarterly returns or statements of
current assets filed by the Company with banks are in agreement with the books of accounts, except as below :

48. The Company has consolidated the financial statements of Action Construction Equipment Limited Employees Welfare Trust
("Trust") in its standalone financial statements. Accordingly, the amount of loan of ' 850.99 lakhs (Previous Year ' 885.99 lakhs)
outstanding in the name of Trust in the books of the Company at the year end has been eliminated against the amount of loan
outstanding in the name of Company appearing in the books of Trust at the year end. The investment of ' 684.66 lakhs (Previous
year ' 808.59 lakhs) made by the Trust in the equity shares of the Company has been shown with the name of Treasury shares
under reserves and surplus.

49. In accordance with requirement of rule 3(1) of Companies (Accounts) Rules, 2014, the Company has used an accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log) facility that has been enabled from 23rd April 2025
onwards. Except for the period from 1 April 2025 to 22 April 2025 and certain fields and tables for Inventory process at the application
level, the audit trail facility has been operating throughout the period for all relevant transactions recorded in the software.