17.1 The Company has one class of shares refered to as equity shares having a par value of ^ 10/-. Each holder of equity shares is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.

18.3 Securities Premium

Securities Premium represents the amount received in excess of par value of securities and is available for utilisation as specified under section 52 of Companies Act, 2013.

18.4 General Reserve

The General Reserve is used by appropriating profits from retained earnings. As the General Reserve is created by a transfer from one component of equity to another, it is not reclassified to the Statement of Profit and Loss.

18.5 Retained Earnings

Retained earnings represents the undistributed profit/ amount of accumulated earnings of the company.

18.6 Other Comprehensive Income

Other Comprehensive Income represents the balance in equity for items to be accounted in Other Comprehensive Income (OCI). The actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions have been recognised in OCI and will not be reclassified to Statement of Profit and Loss.

19.1 Term Loan Rs 500 lakh from UCO Bank is secured by hypothecation of stock of raw materials, work-in-progress, finished goods, stores and spares, trade receivables and other current assets of the Company and all moveable assets and by equitable mortgage by deposit of title deeds of immoveable properties comprising of land and buildings of the Company’s factories situated at Nagpur, Ajmer & Aurangabad. The Interest rate is 9.60%. The outstanding as on 31st March 2026 is R Nil (31st March 2025: R 368.22)

19.2 The outstanding balance disclosed in Note no. 19 is based on the amortised cost in accordance with Ind AS 109 “Financial Instruments”.

22.1 Loans repayable on demand being Working Capital facilities from UCO Bank, HDFC Bank, ICICI Bank and Axis Bank (both fund based and non-fund based) are secured by hypothecation of stock of raw materials, work-in-progress, finished goods, stores and spares, trade receivables and other current assets of the Company and all moveable assets and by equitable mortgage by deposit of title deeds of immovable properties comprising of land and buildings of the Company’s factories situated at Nagpur, Ajmer and Aurangabad.

For short-term and low value leases, the Company recognises the lease payments as an operating expense. Leasehold Land being perpetual in nature and having a term upto 99 years of lease with an option of renewal has not been amortised.

The Company does not have any lease liability as on March 31, 2026 and March 31, 2025. Accordingly, no disclosure is required as per Ind AS 116 in this regard.

The Company has not entered in any non-cancellable operating leases as a lessor. Accordingly, no disclosure is required as per Ind AS 116 in this regard.

36. Exceptional items

The Government of India vide notification dated November 21,2025 has notified 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 (collectively referred to as “The Labour Code”) consolidating and relacing the then existing multiple labour legislations in the country. In accordance with the requirements of INDAS 19, “Employees Benefits”, changes to employee benefit resulting from legialative amendments constitue a plan amendment, necessitating the immediate recognition of any variation in the costs upon such notification. Consequently, the potential impact on the employee benefit and expenses on account of past service costs in respect of Gratuty and Leave Encashment amounting to Rs 51 lakhs as evaluated and determined by an independent actuary has been recognised and disclosed as “exceptional items” in the accounts.

The fair values of the financial assets and liabilities are included at the amount 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 following methods and assumptions were used to estimate the fair values:

The fair value of cash and cash equivalents, trade receivables, trade payables, current financial liabilities/ financial assets and borrowings approximate their carrying amount largely due to the short-term nature of these instruments. The management considers that the carrying amounts of financial assets and financial liabilities recognised at nominal cost/amortised cost in the financial statements approximate their fair values.

A substantial portion of the company’s long-term debt has been contracted at floating rates of interest, which are reset at short intervals. Fair value of variable interest rate borrowings approximates their carrying value subject to adjustments made for transaction cost.

Investments in Mutual Funds are determined by reference to the quoted market prices (i.e. NAV) at the reporting date multiplied by the quantity held.

Fair valuation of Financial assets and liabilities not within the operating cycle of the Company is amortised based on the borrowing rate of the Company.

Financial instruments are valued based on quoted price for similar assets and liabilities in active market or similar inputs that are directly or indirectly observable in the market place.

Financial Risk Factors

The Company’s activities expose it to a variety of financial risks. The key financial risk includes market risk, credit risk and liquidity risk. The Company’s focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance. The Company has an Enterprise Risk Management (ERM) process which involves periodic identification of risks likely to affect the business adversely, rating the risks, their importance and likelihood, preparation of risk identification procedures, implementation of risk mitigation plans and its continuous monitoring by the Executive Management/ Divisional Heads. The Risk Management Committee has already identified the risks in the various business areas and it also develops and monitors various mitigation strategies and plans in these areas to reduce or eliminate the likelihood of such risks. The presence in India of players with low cost products which has intensified the competition in the large domestic market consequently shrinking the margins for the Company’s products is an area of risk. To mitigate the risk involved in this area, steps have been initiated to move ahead of the competition with the Company’s strong brand image along with upgradation of technology, carving out a niche product portfolio and effective marketing framework.

Market Risk

Market risk is the risk or uncertainty arising from possible market price movements resulting in variation in the fair value of future cash flows of a financial instrument. The major components of Market risks are foreign currency risk, interest rate risk and other price risk. Financial instruments affected by market risk includes trade receivables, borrowings, investments and trade and other payables.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s foreign currency denominated transactions.

The Company is having a net foreign exchange outflow and has adopted a comprehensive risk management review system wherein it evaluates exchange rate exposure arising from these transactions and follows established risk management policies.

Interest rate risk

There are deposits with banks which are for short term period are exposed to interest rate risk, falling due for renewal. These deposits are however generally for trade purposes and as such does not cause material implication.

A decrease in 0.50 basis point in Rupee Loan would have an equal and opposite effect on the Company’s financial statements

Other price risk

The investment in mutual funds which are fair valued through profit and loss are material as these are Fixed Maturity Plan(FMP) that are closed ended scheme with a pre-defined maturity which is subject to investment objective and allocation which is basically in debt instruments, Certificate of Deposits and Commercial papers. Accordingly, other price risk of the financial instrument to which the Company is exposed is not expected to be material.

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables). To manage this, the management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Collection of sale proceeds promptly from the clients on sale of products is also an area where risk is involved. The Company has adopted various recovery measures for improvement in collection and liquidity position which is also monitored by the Executive Management at regular intervals.

The carrying amount of respective financial assets recognised in the financial statements, (net of impairment losses) represents the Company’s maximum exposure to credit risk. The concentration of credit risk is limited due to the customer base being large and unrelated. Of the trade receivables balance at the end of the year, there are no single customer accounted for more than 10% of the accounts receivable and 10% of revenue as at March 31, 2026 and March 31, 2025 respectively.

The Company establishes an allowance for impairment that represents its estimate of incurred losses in respect of trade and other receivables. Receivables from customers are reviewed/evaluated periodically by the management and appropriate provisions are made to the extent recovery thereagainst has been considered to be remote.

Financial assets that are neither past due nor impaired

Cash and Cash Equivalents, investment and deposits with banks are neither past due nor impaired. Cash and Cash Equivalents with banks are held with reputed and credit worthy banking institutions.

Financial assets that are past due but not impaired

Trade Receivables disclosed include amounts that are past due at the end of the reporting period but against which the Company has not recognised an allowance for doubtful receivables because there has not been a significant change in credit quality and the amounts are still considered recoverable.

Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company’s objective is to maintain optimum level of liquidity to meet it’s cash and collateral requirements at all times. The Company relies on borrowings and internal accruals to meet its fund requirement. The current committed line of credit are sufficient to meet its short to medium term fund requirement.

Liquidity and interest risk tables

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows as at the Balance Sheet date:

The Company has current financial assets which will be realised in ordinary course of business. The Company ensures that it has sufficient cash on demand to meet expected operational expenses.

The Company relies on mix of borrowings and excess operating cash flows to meet its need for funds and ensures that it does not breach any financial covenants stipulated by the lender.

Capital Management

The primary objective of the Company’s capital management is to ensure that it maintains a healthy capital ratio in order to support its business and maximise shareholder value. The Company’s objective when managing capital is to safeguard their ability to continue as a going concern so that they can continue to provide returns for shareholders and benefits for other stake holders. The Company is focused on keeping strong total equity base to ensure independence, security, as well as a high financial flexibility for potential future borrowings, if required without impacting the risk profile of the Company.

42.1 in respect of the above parties ,there is no provision for doubtful debts as on March 31, 2026 and no amount has been written off or written back during the year in respect of debt due from/to them

42.2 The above related party information is as identified by the management and relied upon by the auditor

43. Segment Information

a) Reportable Segments:

The Company’s operating segment are established on the basis of those component of the Company that are evaluated regularly by the Board “The Chief Operating Decision Maker” as defined in Ind AS 108 “Operating Segments”. The Company has three principal operating and reporting segments i.e.

i) Mineral & Material Processing and Handling Equipment

ii) Gear Box and Geared Motor Drive System

iii) Building Material Division

Segment revenue and results:

The expenses and income which are not directly attributable to any business segment are shown as unallocable expenditure (net of allocable income).

Segment assets and Liabilities:

Segment assets include all operating assets used by the operating segment and mainly consist of property, plant and equipments, trade receivables, Inventory and other operating assets. Segment liabilities primarily includes trade payable and other liabilities. Common assets and liabilities which can not be allocated to any of the business segment are shown as unallocable assets / liabilities.

Inter Segment Transfer:

Inter Segment revenues are recognised at sales price. The same is based on market price and business risks. Profit or loss on inter segment transfer are eliminated at the group level.

2) The Company has not revalued its Property,Plant & Equipment (including Right of Use Assets) and intangible assets during the financial year

3) No Loans and Advances in the nature of Loans have been granted to Promoters, Directors,KMPs and Related Parties either severally or jointly with any other person.

5) The Company does not have any Intangible assets under development

6) No proceedings have been initiated or is pending against the Company for holding any benami property under the Benami Transaction (Prohibition) Act,1988 (45 of 1988) and Rules made thereunder

7) The Company is not a wilful defaulter and has not been declared as such by any bank or financial institution

8) The Company did not have either any transaction with struck off companies during the current year and previous year or have any balance outstanding at the end of the year

9) The quarter ly/monthly returns filed with the bank are not materially inconsistent with the reporting criterion established by the bank on net basis.

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

11) The Company does not have any layer of companies.

12) The Company has not entered into any scheme of arrangements in the financial year.

13) The Company has not advanced or loaned or invested fund (either borrowed fund or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary shall ;(i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

14) 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 ; (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

15) The Company did not have any transaction which were not recorded in the books of account and has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

16) During the Financial Year the Company is covered under section 135 of the Companies Act, 2013 in respect of spending on account of corporate social responsibility. The details are given in Note No 34.3

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

47. These financial statements have been approved by the Board of Directors of the Company on 28 th May, 2026 for issue to the shareholders for their adoption.

48. Previous year’s figures have been regrouped / rearranged wherever necessary