5.10 Provisions

Provisions are recognised when the enterprise has a
present obligation (Legal or constructive) as a result of
past events, and it is probable that an outflow of resources
embodying economic benefits will be required to settle
the obligation, and a reliable estimate can be made of the
amount of the obligation.

When the effect of the time value of money is material, the
enterprise determines the level of provision by discounting
the expected cash flows at a pre-tax rate reflecting the
current rates specific to the liability. The expense relating
to any provision is presented in the statement of profit and
loss net of any reimbursement.

5.11 Contingent Assets and Liabilities

A contingent asset is a possible asset that arises from past
events and whose existence will be confirmed only by the
occurrence or non occurrence of one or more uncertain
future events not wholly within the control of the entity.
The Company does not recognize or disclose contingent
asset in the financial statements.

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 in
extremely rare cases 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.

5.12 Earnings Per Share

The Company reports basic and diluted earnings per
share in accordance with Ind AS 33 on Earnings per share.
Basic EPS is calculated by dividing the net profit or loss
for the year attributable to equity shareholders (after
attributable taxes) by the weighted average number of
equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the year attributable to equity
shareholders and the weighted average number of shares
outstanding during the year are adjusted for the effects
of all dilutive potential equity shares. Dilutive potential
equity shares are deemed converted as of the beginning
of the period, unless they have been issued at a later date.
In computing the dilutive earnings per share, only potential
equity shares that are dilutive and that either reduces the
earnings per share or increases loss per share are included.

5.13 Segment Reporting

Operating segments are reported in a manner consistent
with the internal reporting provided to the chief operating
decision maker (CODM).

The Board of Directors (BOD) of the Company assesses

the financial performance and position of the Company,
and makes strategic decisions. The BOD, which has been
identified as being the chief operating decision maker.
The Company is engaged in the business of i) Lending

finance and ii) Fees & commission income. The said business
are aggregated for the purpose of review of performance
by CODM. Accordingly, the Company has concluded that
the business of lending finance and fees & commission
income to be the only reportable segment.

5.14 Leases

Ind AS 116 requires lessees to determine the lease term
as the non-cancellable period of a lease adjusted with
any option to extend or terminate the lease, if the use of
such option is reasonably certain. The Company makes
an assessment on the expected lease term on a lease-by¬
lease basis and thereby assesses whether it is reasonably
certain that any options to extend or terminate the contract
will be exercised. In evaluating the lease term, the Company
considers factors such as any significant leasehold
improvements undertaken over the lease term, costs
relating to the termination of the lease and the importance
of the underlying asset to Company's operations taking
into account the location of the underlying asset and the
availability of suitable alternatives. The lease term in future

periods is reassessed to ensure that the Lease term reflects
the current economic circumstances.

The Company as a Lessee

The Company's Lease asset classes primarily consist of
Leases for land and buildings. The Company assesses

whether a contract contains a Lease, at inception of a
contract. 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. To assess
whether a contract conveys the right to control the use
of an identified asset, the Company assesses whether: (i)
the contract involves the use of an identified asset (ii) the
Company has substantially all of the economic benefits
from use of the asset through the period of the lease and
(iii) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the
Company recognizes a right-of-use asset (“ROU”) and a

corresponding lease liability for all lease arrangements in
which it is a lessee, except for leases with a term of twelve
months or less (short-term leases) and low value leases.
For these short-term and low value leases, the Company
recognizes the lease payments as an operating expense on
a straight-line basis over the term of the lease.

Certain lease arrangements includes the options to extend
or terminate the lease before the end of the lease term.
ROU assets and lease liabilities includes these options
when it is reasonably certain that they will be exercised.

The right-of-use assets are initially recognized at cost,
which comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the
commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and
impairment losses.

Right-of-use assets are depreciated from the
commencement date on a straight-line basis over the
shorter of the lease term and useful life of the underlying
asset. Right of use assets are evaluated for recoverability
whenever events or changes in circumstances indicate that
their carrying amounts may not be recoverable. For the
purpose of impairment testing, the recoverable amount
(i.e. the higher of the fair value less cost to sell and the
value-in-use) is determined on an individual asset basis
unless the asset does not generate cash flows that are
largely independent of those from other assets. In such
cases, the recoverable amount is determined for the Cash
Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized cost at
the present value of the future lease payments. The lease
payments are discounted using the interest rate implicit
in the lease or, if not readily determinable, using the
incremental borrowing rates in the country of domicile
of these leases. Lease liabilities are remeasured with a
corresponding adjustment to the related right of use asset
if the Company changes its assessment if whether it will
exercise an extension or a termination option.

Lease liability and ROU asset have been separately
presented in the Balance Sheet and lease payments have
been classified as financing cash flows.

5.15 Cash Flow Statement

Cash flows are reported under the 'Indirect method' as set
out in Ind AS 7 on 'Statement of Cash Flows, whereby net
profit after tax is adjusted for the effects of transactions of
non-cash nature, tax and any deferrals or accruals of past
or future cash receipts or payments. The cash flows are
prepared for the operating, investing and financing activities
of the Company.

6 Significant accounting judgements, estimates and
assumptions

The preparation of financial statements in conformity with
the Ind AS requires the management to make judgments,
estimates and assumptions that affect the reported
amounts of revenues, expenses, assets and liabilities
and the accompanying disclosure and the disclosure of
contingent liabilities, at the end of the reporting period.
Estimates and underlying assumptions are reviewed on
an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised
and future periods are affected. Although these estimates
are based on the management's best knowledge of current
events and actions, uncertainty about these assumptions
and estimates could result in the outcomes requiring a
material adjustment to the carrying amounts of assets or
liabilities in future periods.

6.1 Defined employee benefit assets and liabilities

The cost of the defined benefit gratuity plan and the
present value of the gratuity obligation are determined
using actuarial valuations. 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 and mortality
rates. 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 annually.

6.2 Recognition of Securitised assets and direct
assignment transactions:

Pursuant to the regulatory guidance on Ind AS issued by

RBI dated 13^th March, 2020 to promote consistent Ind AS
implementation among NBFCs, the Company has changed
its policy on accounting for securitised assets and direct

assignment transactions. The securitised assets which were
hitherto, de-recognized in the books based on 'True Sale
Criteria' prescribed by RBI, will be now re-recognised in the
books along with interest income using effective interest
rate as the company has not transferred substantially all
the risks and rewards in accordance with the provisions of
Indian Accounting Standard 109 (Ind AS 109), 'Financial
Instruments' . Proceeds received from securitisation will be
recognised as Borrowings (other than debt securities) and
Interest thereon will be recognised as Finance cost.

I n respect of Direct Assignment transactions, assets
continue to be derecognized in the books as it fulfils
"True Sale Criteria” prescribed by RBI and has transferred
substantially all the risks and rewards in accordance with
the provisions of Indian Accounting Standard No.109 (Ind
AS 109), 'Financial Instruments' and the gain on sale of
assets arising from such direct assignment transactions,
will be recognised at fair value of interest strip.

6.3 Impairment of loans portfolio

The measurement of impairment losses across all
categories of financial assets requires judgement, in
particular, the estimation of the amount and timing of
future cash flows and collateral values when determining
impairment losses and the assessment of a significant
increase in credit risk. These estimates are driven by a
number of factors, changes in which can result in different
levels of allowances.

I t has been the Company's policy to regularly review it's
ECL model in the context of actual loss experience and
adjust when necessary.

The impairment loss on loans and advances is disclosed in
more detail in Note 5.2(vii) Overview of ECL principles.

6.4 Fair Value Measurement

When the fair values of financial assets and financial
liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is
measured using various valuation techniques. The inputs
to these models are taken from observable markets where
possible, but where this is not feasible, a degree of judgment
is required in establishing fair values. Judgments include
considerations of inputs such as liquidity risk, credit risk

and volatility. Changes in assumptions about these factors

could affect the reported fair value of financial instruments

6.5 Leases

a. Determining the Lease term of contracts with
renewal and termination options - Company as
Lessee

The Company determines the lease term as the
non-cancellable term of the lease, together with
any periods covered by an option to extend the
lease if it is reasonably certain to be exercised, or
any periods covered by an option to terminate the
lease, if it is reasonably certain not to be exercised.
The Company applies judgement in evaluating
whether it is reasonably certain whether or not to
exercise the option to renew or terminate the lease.
That is, it considers all relevant factors that create an
economic incentive for it to exercise either the renewal
or termination.

b. Estimating the incremental borrowing rate

The Company cannot readily determine the interest
rate implicit in the lease, therefore, it uses its

incremental borrowing rate (IBR) to measure lease
liabilities. The IBR is the rate of interest that the
Company would have to pay to for its borrowings.

6.6 Contingent liabilities and provisions other than
impairment of loan portfolio

Provisions and liabilities are recognised in the period when
it becomes probable that there will be a future outflow
of funds resulting from past operations or events and
the amount of cash outflow can be reliably estimated.
The timing of recognition and quantification of the liability
requires the application of judgement to existing facts and
circumstances, which can be subject to change. The carrying
amounts of provisions and liabilities are reviewed at each
Balance sheet date and revised to take account of changing
facts and circumstances.

6.7 Derivative Accounting

The Company is currently relying on the Marked To Market
(MTM) rates provided by the Bankers as this is considered
as the most suitable option for the Company.

7 Recent Pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards

or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to
time. For the year ended 31^st March, 2026, the Company has
reviewed the new pronouncements based on its evaluation
has determined that it does not have any significant impact
in its financial statements.

Note 17: Derivative financial instruments

The company enters in to derivatives for risk management purpose which includes hedges that either meet the hedge accounting
requirements or hedges that are economic hedges. The Company holds derivative financial instruments such as foreign currency
forward and cross currency interest rate swaps to mitigate the risk of changes in exchange rates on foreign currency exposures.
These derivative financial instruments are valued based on quoted marked to market rate provided by the bankers.

The below table shows the fair values of derivative financial instruments recorded as asset and liabilities together with notional
amounts held by the Company:

Note 17.1 Hedging activities and derivatives

The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed using derivative
instruments are foreign currency risk.

The Company's risk management strategy and how it is applied to manage risk are explained in Note 45.

Note 17.2 Derivatives designated as hedging instruments

The company is exposed to foreign currency risk arising from its fixed rate foreign currency denominated bond amounting to USD
300 million. Interest on the borrowing is payable at 10.36 % p.a. at half yearly intervals, and the principal amount is repayable in
May, 2028. The Company economically hedged the foreign currency risk arising from the bond with Forward Rate Agreement of
equivalent amount.

The company is exposed to foreign currency risk arising from its fixed rate foreign currency External Commercial Borrowing amounting
to USD 1021 million. Interest on the borrowing is payable at 8.06 % - 9.72% p.a. and the principal amount is repayable on various due
dates. The Company economically hedged the foreign currency risk arising from the loan with Cross Currency Interest Rate swaps of
equivalent amount. The Cross Currency Interest Rate Swaps converts the cash outflows of the foreign currency fixed rate borrowing
of USD 1021 million to cash outflows in Indian Rupees with a notional amount of '96,826.54 Million

There is an economic relationship between the hedged item and the hedging instrument as the terms of the forward currency contract
match that of the foreign currency borrowing (notional amount, principal repayment date etc.). The company has established a hedge
ratio of 1:1 for the hedging relationships as the underlying risk of the forward currency contract are identical to the hedged risk
components. For the purpose of calculating hedge effectiveness, the company uses a qualitative features to determine the hedge
effectiveness.

Exclude unpaid (Unclaimed) matured debentures shown as a part of the other financial Liabilities(Refer Note.22)

Includes EIR impact of transaction cost, premium amount on issue of NCD

US Dollar Bonds carry interest rates of 10.36% p.a (31^st March, 2026) and their tenure is for 4 years.

Nature of Security

Debentures are secured by a floating charge on the book debts of the Company on gold and other
unencumbered assets. The Company shall maintain 100% security cover on the outstanding balance
of debenture with accrued interest any time. Debentures are offered for a period of 1 year to 10 years.
US Dollar Bonds are secured by way of floating charge on the book debts of the Company on gold and other unencumbered assets.

Term loan from bank:

Indian rupee Loan from banks (secured): These are secured by an exclusive charge by way of hypothecation of book debts pertaining

to loans granted against gold and margin/cash collateral as per the agreement.

Foreign currency Term Loan /ECB from Banks (secured):

1) Foreign currency loan: '3328.00 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 '3744.00 million(ECB)) which carries
interest @ 6 month SOFAR plus 225 bps. The loan is repayable after 5 years from the date of its origination, viz., 25^th October, 2023.

2) Foreign currency loan: '4157.00 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 '4157.00 million(ECB)) which carries
interest @ 6 month SOFAR plus 235 bps. The loan is repayable after 3 years from the date of its origination, viz., 24 ^th January,2024.
The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company.

3) Foreign currency loan: '4178.00 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 '4178.00 Mn) (ECB)) which carries
interest @ 6 month SOFAR plus 215 bps. The loan is repayable after 3 years from the date of its origination, viz., 24^th June, 2024.
The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company.

4) Foreign currency loan: '8,380.00 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 '8,380.00Mn ) (ECB)) which carries
interest @ 6 month SOFAR plus 195 bps. The loan is repayable after 3 years from the date of its origination, viz., 30^th September
, 2024. The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold
loans & advances of the Company.

5) Foreign currency loan: . '1,983.40 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025'1,983.40 million) which carries interest
@ 6 month SOFAR plus 175 bps. The loan is repayable after 3 years from the date of its origination, viz., 19^th November, 2024.
The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company.

6) Foreign currency Loan: '2,474.10 miLLion(ECB) as at 31^st March, 2026 ( 31^st March, 2025 '2,474.10 miLLion) which carries interest
@ 6 month SOFAR plus 210 bps. The loan is repayable after 3 years from the date of its origination, viz., 17^th March, 2025.
The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company.

7) Foreign currency loan: '16,296.20 miUion(ECB) as at 31^st March, 2026 ( 31^st March, 2025 Nil) (ECB)) which carries interest @
6 month SOFAR plus 185 bps. The loan is repayable after 3 years from the date of its origination, viz., 16^th September, 2025.
The loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company.

8) Foreign currency loan: '1774 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 Nil) (ECB)) which carries interest @ 6 month
SOFAR plus 168 bps. The loan is repayable after 3 years from the date of its origination, viz., 20^th November, 2025. The loans
are secured against the first pari passu charge on current assets, book debts and receivabLes incLuding goLd Loans & advances
of the Company.

9) Foreign currency loan: '2142 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 Nil) (ECB)) which carries interest @ 6 month
SOFAR plus 180 bps. The loan is repayable after 3 years from the date of its origination, viz., 27^th November, 2025. The loans
are secured against the first pari passu charge on current assets, book debts and receivabLes incLuding goLd Loans & advances
of the Company.

10) Foreign currency loan: '27165 miUion(ECB) as at 31^st March, 2026 ( 31^st March, 2025 Nil) (ECB)) which carries interest @ 6
month SOFAR plus 170 bps. The loan is repayable after 4 years from the date of its origination, viz., 04 February, 2026. The loans

are secured against the first pari passu charge on current assets, book debts and receivabLes incLuding goLd Loans & advances
of the Company.

11) Foreign currency loan: '18,326 million(ECB) as at 31^st March, 2026 ( 31^st March, 2025 Nil) (ECB)) which carries interest @ 6
month SOFAR plus 178 bps. The loan is repayable after 3 years from the date of its origination, viz., 05 March, 2026. The loans

are secured against the first pari passu charge on current assets, book debts and receivables including gold loans & advances
of the Company.

Term loan from other parties (secured):

Other party rupee term loan is secured where Interest payments are made monthly at 8.70 % - 8.90% pa. The loans is secured
against the first pari passu charge on current assets, book debts and receivables including gold loans & advances of the Company
as per the agreement.

Loans repayable on demand

Cash credit / Overdraft facilities from banks (secured):

These loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company as per the agreement.

Working Capital demand loan from banks (secured):

These loans are secured against the first pari passu charge on current assets, book debts and receivables including gold loans &
advances of the Company as per the agreement.

b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par value of ' 2/- per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividends in Indian rupees. During the year ended 31^st March, 2026, the amount
of per share dividend recognized as distributions to equity shareholders was ' 2 /- per share (31^st March, 2025: ' 4 /- per share)
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive 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.

e) The primary objectives of the Company's capital management policy are to ensure that the Company complies with externally
imposed capital requirements and maintains strong credit ratings and healthy capital ratios in order to support its business and
to maximise shareholder value. No changes have been made to the objectives, policies and processes from the previous years.
However, they are under constant review by the Board.

f) Pursuant to the shareholders agreement dated 20^th March, 2025, during the Q4 of FY 2025-26, the Company has received on
27^th March, 2026 (a) total ' 2,192.47 crore from BC Asia Investments XXV Limited towards the allotment of 9,29,01,373 equity
shares at a price of '236/- per share, whereby the holding of aforesaid investor is 9.89%. (b) total ' 548.11 crore from BC Asia
Investments XIV Limited against the allotment of 9,29,01,373 share warrants at a price of '236/- per share warrant, which is
25% of share warrants price.

g) Pursuant to the approval of the Members of the Company at the Extra-Ordinary General Meeting, the authorised share capital of
the Company has increased from Rs. 2000 million to Rs. 3000 million. Accordingly, the authorised share capital now comprises
148,00,00,000 equity shares of Rs.2/- each and 4,00,000 redeemable preference shares of Rs.100 each. The redeemable
preference share capital remains unchanged.

Nature and purpose of Reserves

a) Securities premium: Securities premium reserve is used to record the premium on issue of shares i.e excess of face value over
issue price. The reserve can be utilised only for limited purposes such as issuance of bonus shares in accordance with the
provisions of the Companies Act, 2013.

b) Share option outstanding account (ESOP reserve): The share-based payment reserve is used to recognise the value of
equity-settled share-based payments provided to employees, including key management personnel, as part of their remuneration.
Refer to Note 37 for further details of these plans.

c) Statutory reserve (Statutory Reserve pursuant to Section 45-IC of The RBI Act, 1934): Section 45IC of Reserve Bank of India
Act, 1934 ("RBI Act, 1934”) defines that every non banking finance institution shall create a reserve fund and transfer therein a
sum not less than twenty percent of its net profit every year as disclosed in the statement of profit and loss before any dividend
is declared. The Company has transferred an amount of '3049.29 Mn (2024-25 '3566.53 Mn) to Statutory reserve pursuant
to Section 45-IC of RBI Act, 1934

d) Impairment Reserve

The NBFCs will have to compute two types of provisions or loss estimations, ECL as per Ind AS 109 & its internal ECL model and
parallelly provisions as per the RBI prudential norms. A comparison between the two is required to be disclosed by the NBFC in
the annual financial statements. Where the ECL computed as per the ECL methodology is lower than the provisions computed
as per the IRAC norms, then the difference between the two should be parked in "Impairment Reserve”. Allocation to Impairment
Reserve should be made out of Retained earnings and there are certain restrictions towards utilization of this reserve amount.

e) General reserve: Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net
income at a specified percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that if a
dividend distribution in a given year is more than 10% of the paid-up capital of the Company for that year, then the total dividend
distribution is less than the total distributable results for that year. Consequent to introduction of Companies Act 2013, the

requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been withdrawn. However, the
amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of
Companies Act, 2013.

f) Hedge reserve: The Company uses hedging instruments as part of its management of foreign currency risk and interest rate
risk associated on borrowings as described within note 45. For hedging foreign currency and interest rate risk, the Company
uses foreign currency forward contracts, cross currency swaps, foreign currency option contracts and interest rate swaps.
To the extent these hedges are effective, the change in fair value of the hedging instrument is recognised in the hedge reserve.
Amounts recognised in the hedge reserve is reclassified to the statement of profit or loss when the hedged item affects profit
or loss (e.g. interest payments).

g) Retained earning: Retained earnings are the profits that the Group has earned till date, less any transfers to statutory reserve,
general reserve and dividend distributed to shareholders

h) Other comprehensive income: Other items of other comprehensive income consist of re-measurement of net defined benefit
liability/asset and fair value changes on derivatives designated as cash flow hedge, net.

i) Share application money pending allotment: The amount received on the application for equity shares of the Company on
which allotment is not yet made, to the extent not refundable.

j) Debenture redemption reserve:

(1) Pursuant to Section 71 of the Companies Act, 2013 and circular 04/2013, read with notification issued date 19^th June,
2016 issued by Ministry of Corporate Affairs, the Company is required before 30^th day of April of each year to deposit or

invest, as the case may be, a sum which shall not be less than 15% of the amount of its debenture issued through public
issue maturing within one year from the balance sheet date.

(2) Pursuant to notification issued by Ministry of Corporate Affairs on 16^th August, 2019 in exercise of the powers conferred
by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government amend the
Companies (Share Capital and Debentures) Rules, 2014.

In the principal rules, in rule 18, for sub-rule (7), the limits with respect to adequacy of Debenture Redemption Reserve and
investment or deposits for listed companies (other than All India Financial Institutions and Banking Companies as specified
in sub-clause (i)), Debenture Redemption Reserve is not required to maintain in case of public issue of debentures as well as
privately placed debentures for NBFCs registered with Reserve Bank of India under section 45-IA of the RBI Act, 1934.

Reason for shortfall in CSR expenditure: The amount remains unspent is pertaining to the ongoing projects and the same have been
transferred to CSR unspent account. The MACARE Diagnostics Project is currently being expanded to new locations, which will involve
civil and electrical works as well as the procurement and installation of major medical equipment such as CT and MRI machines.
Accordingly, the implementation of the Project extended into the next financial year, i.e., FY 2026-27.

Nature of CSR expenditure: CSR projects of Manappuram Finance Ltd are focused on promotion of quality education, promotion of

healthcare, Rural development projects, women empowerment, environment sustainability etc which includes both ongoing and
one year projects.

Details of related party transactions with respect to CSR expenditure are showed under note 42.

Note 35: Income Tax

The Company has computed the tax expense of the current financial year as per the tax regime announced under section
115BAA of the lncome Tax Act, 1961. Accordingly, the provision for current and deferred tax has been determined at the rate of
25.17%.

Note 38: Retirement Benefit Plan
Defined Contribution Plan

The Company makes Provident Fund and Employee State insurance Scheme contributions which are defined contribution plans,
for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs
to fund the benefits. The Company recognized '648.54 Mn(31^st March, 2025: '682.90 Mn) for Provident Fund contributions and
'106.96 Mn(31^st March, 2025: '123.89Mn) for Employee State Insurance Scheme contributions in the Statement of Profit and Loss.

The contributions payable to these plans by the Company are at rates specified in the rules of the Schemes.

Defined Benefit Plan

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity
on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded with Life insurance
Corporation of India and Kotak Life insurance.

The following tables summaries the components of net benefit expense recognized in the statement of profit and loss and the funded
status and amounts recognized in the balance sheet for the gratuity plan.

Pursuant to the Government of India notification dated November 21, 2025, whereby New Labour Codes were notified, the management
had assessed and disclosed the additional impact of the New Labour Codes on the Company's employee benefit obligations and
accordingly recognised an estimated additional cost of Rs. 15.9 Mn under employee benefit expenses in the financial results for
the Q3 FY 2025-26. The Company will continue to monitor further developments including the finalization of the central and state
rules under the New Labour Codes, which are yet to be notified and shall evaluate and give effect to any consequential accounting
adjustments, if any arising therefrom in future periods, as and when required.

The weighted average duration of the defined benefit obligation as at 31^st March, 2026 is 2.5 years (2025: 4 years)

The fund is administered by Life Insurance Corporation of India ("LIC”) and Kotak Life Insurance. The overall expected rate of return
on assets is determined based on the market prices prevailing on that date, applicable to the period over which the obligation is to
be settled.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other
relevant factors, such as supply and demand in the employment market. The defined benefit plans expose the Company to a number
of actuarial risks as below:

Investment Risks - The company's performance is directly affected by the over- or under-performance of the investment assets of
the gratuity plan. Inadequate performance could, among others, increase the future employer contributions.

Interest Rate Risk - This is the risk associated with a rise or fall in the interest rate which could affect liability and asset values.
The plan is exposed to the interest rate risk toward its liability and asset values.

Regulatory Risk - The gratuity plan is exposed to multiple regulatory risks e.g., increase in the statutory benefit definition for gratuity.
Higher costs from regulatory oversight of organisation pensions or from compliance toward existing trust and funding-related
obligations (e.g., minimum funding requirements) contribute to the regulatory risks.

Salary and earnings inflation Risk - The Salary growth rate assumption is the company's estimate of future salary increases take
account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market. In a 'final
salary' gratuity plan, the risk of higher earnings-inflation and merit-related salary growth could outweigh the assumptions employed
for the valuation and increase the company's future defined benefit obligation.

The discount rate is based on the prevailing market yields of Government of India securities as at the balance sheet date for the
estimated term of the obligations. The estimate of future salary increases considered, takes into account the in ation, seniority,
promotion, increments and other relevant factors.

Note 39: Maturity analysis of assets and liabilities

The table below shows an analysis of assets and liabilities analysed according to when they are expected to be recovered or settled.
Derivatives have been classified to mature and/or be repaid within 12 months, regardless of the actual contractual maturities of the
products. With regard to loans and advances to customers, the Company uses the same basis of expected repayment behaviour as
used for estimating the EIR. Issued debt reflect the contractual coupon amortisations.

Notes;

(a) AppLicabiLity of Kerata Money Lenders' Act : The Company has challenged in the Hon'bLe Supreme Court the order of Hon'bLe
Kerata High Court upholding the applicability of Kerala Money Lenders Act to NBFCs. The Hon'bLe Supreme Court has directed
that a status quo on the matter shaLL be maintained and the matter is currently pending with the Hon'bLe Supreme Court.
The Company has taken Legal opinion on the matter and based on such opinion the management is confident of a favourabLe
outcome. Pending the resoLution of the same, no adjustments have been made in the financiaL statements for the required License
fee and Security deposits.

(b) The company has some Labour cases pending against it in various courts and with Labour commissioners of various states.
The company's LiabiLity for these cases are not discLosed since actuaL LiabiLity to be provided is unascertainabLe.

Note 41 (iii): Lease Disclosures (entity as a lessee)

(a) Leases of Branch Premises

(i) Ind AS 116 "Leases” is applied to all Lease contracts. The company recorded the Lease Liability at the present value of the
Lease payments discounted at the incremental borrowing rate of the company and the right of use (ROU) asset at measured
at the amount of the initial measurement of the lease liability.

(ii) The following is the summary of practical expedients elected on initial application:

1. Applied a single discount rate to a portfolio of leases of similar assets in similar economic environment with a similar
end date. Discount rate has been taken as the Incremental Borrowing rate of borrowings with similar tenure.

2. Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease
term on the date of initial application.

3. Excluded the initial direct costs from the measurement of the right-of-use asset at the date of initial application.

(iii) The entity takes branch premises on lease. Below are the changes made during the year in the carrying value of:

Note 43: Capital

Disclosures as per Reserve Bank of India (Non-Banking Financial Companies - Financial Statements: Presentation and Disclosures)
Directions, 2025 (Updated as on 1^st April, 2026) to the extent applicable.

Capital Management

The primary objectives of the Company's capital management policy are to ensure that the Company complies with externally
imposed capital requirements and maintains strong credit ratings and healthy capital ratios in order to support its business and to
maximise shareholder value.

The Company manages its capital structure and makes adjustments to it according to changes in economic conditions and the risk
characteristics of its activities. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividend
payment to shareholders, return capital to shareholders or issue capital securities. No changes have been made to the objectives,
policies and processes from the previous years. However, they are under constant review by the Board.

The Company's debt equity ratio as on 31^st March, 2026 stands at 3.18 times (2.29 times as at 31^st March, 2025).

During the year ended 31^st March, 2026, the Company has paid the interim dividend of '2/- per equity share for the year ended
31^st March, 2026 amounting to '1,692.87 Mn (4.5 per equity share amounting to ' 3,385.74 Mn for the year ended 31^st March, 2025.)

Note 44: Fair Value Measurement44.1 Valuation principles

Fair value is the price that would be received to sell an asset or paid to transfer a Liability in an orderly transaction in the principal (or
most advantageous) market at the measurement date under current market conditions , regardless of whether that price is directly
observable or estimated using a valuation technique. In order to show how fair values have been derived, financial instruments
are classified based on a hierarchy of valuation techniques as explained in the material accounting policies of the year ended
31^st March, 2026.

44.2 Valuation governance

The Company's process to determine fair values is part of its periodic financial close process. The Audit Committee exercises the
overall supervision over the methodology and models to determine the fair value as part of its overall monitoring of financial close
process and controls. The responsibility of ongoing measurement resides with business units . Once submitted, fair value estimates
are also reviewed and challenged by the Risk and Finance functions.

44.3 Assets and liabilities by fair value hierarchy

The following table shows an analysis of financial instruments recorded at fair value by level of the fair value hierarchy:

44.4 Valuation techniques

Equity instruments

Equity instruments in non-Listed entities are initially recognised at transaction price and re-measured (to the extent information
is available) and valued on a case-by-case and classified as Level 3. The Company uses prices from prior transactions without
adjustment to arrive at the fair value. Prior transaction represents the price at which same investment was sold in the deal transaction.
Quoted equity instruments on recognised stock exchange are valued at level 1 hierarchy being the unadjusted quoted price as at
the reporting date.

Cross Currency Swaps

Interest rate derivatives include interest rate swaps, cross currency interest rate swaps, basis swaps and interest rate forwards
(FRAs). The most frequently applied valuation techniques include forward pricing and swap models, using present value calculations
by estimating future cash flows and discounting them with the appropriate yield curves incorporating funding costs relevant for
the position. These contracts are generally Level 2 unless adjustments to yield curves or credit spreads are based on significant
non-observable inputs, in which case, they are Level 3.

Interest rate derivatives

Interest rate derivatives include interest rate swaps, cross currency interest rate swaps, basis swaps and interest rate forwards
(FRAs). The most frequently applied valuation techniques include forward pricing and swap models, using present value calculations
by estimating future cash flows and discounting them with the appropriate yield curves incorporating funding costs relevant for
the position. These contracts are generally Level 2 unless adjustments to yield curves or credit spreads are based on significant
non-observable inputs, in which case, they are Level 3.

Foreign exchange contracts

Foreign exchange contracts include open spot contracts, foreign exchange forward and swap contracts and over the-counter foreign
exchange options. These instruments are valued by either observable foreign exchange rates, observable or calculated forward points
and option valuation models. With the exception of contracts where a directly observable rate is available which are disclosed as
Level 1, the Company classifies foreign exchange contracts as Level 2 financial instruments when no unobservable inputs are used
for their valuation or the unobservable inputs used are not significant to the measurement (as a whole).

The management assessed that cash and cash equivalents, trade receivables, trade payabtes, bank overdrafts and other current
Liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

Valuation methodologies of financial instruments not measured at fair value

Below are the methodologies and assumptions used to determine fair values for the above financial instruments which are not
recorded and measured at fair value in the financial statements. These fair values were calculated for disclosure purposes only.

Short-term financial assets and liabilities

For financial assets and financial Liabilities that have a short-term maturity (Less than twelve months), the carrying amounts, which
are net of impairment, are a reasonable approximation of their fair value. Such instruments include: cash and balances, balances
other than cash and cash equivalents, trade payabtes and other financial Liabilities without a specific maturity. Such amounts have
been classified as Level 2 on the basis that no adjustments have been made to the balances in the balance sheet.

Loans and advances to customers

Fair value of Loans estimated using a discounted cash flow model on contractual cash flows using actuat/estimated yields.

Debt and Borrowings

The floating rate Loans are fair valued on the basis of MCLR spread. For fixed rate Loans, the carrying values are a reasonable
approximation of their fair vaLue.

Note 45: Risk Management

Risk is an integraL part of the Company's business and sound risk management is criticaL to the success. As a financiaL institution, the

Company is exposed to risks that are particuLar to its Lending and the environment within which it operates and primariLy incLudes
Credit, Liquidity, Market and OperationaL Risks. Company's goaL in risk management is to ensure that it understands measures and
monitors the various risks that arise and the organization adheres strictLy to the poLicies and procedures which are estabLished to
address these risks. The Company has a risk management poLicy which covers risks associated with the financiaL assets and LiabiLities.
The Board of Directors of the company are responsibLe for the overaLL risk management approach, approving risk management
strategies and principLes. Risk Management Committee of the Board reviews credit, operations and market risks faced by MAFIL
periodicaLLy.Company has appointed a Chief Credit Officer who reports to MD & CEO and presenting risk reLated matters to Risk
Management Committee and the Board.

The Company has impLemented comprehensive poLicies and procedures to assess, monitor and manage risk throughout the Company.
The risk management process is continuousLy reviewed, improved and adapted in the changing risk scenario and the agiLity of the risk
management process is monitored and reviewed for its appropriateness in the changing risk Landscape. The process of continuous
evaLuation of risks incLudes taking stock of the risk Landscape on an event-driven basis.

The Company has an eLaborate process for risk management. Major risks identified by the businesses and functions are systematicaLLy
addressed through mitigating actions on a continuing basis.

Credit Risk

Credit risk is the risk that a customer or counterparty wiLL defauLt on its contractuaL obLigations resuLting in financiaL Loss to the
Company. As the company predominantLy Lend against goLd jeweLLery, which are Liquid securities, its credit risks are comparativeLy
Lower. Its other verticaLs, Micro Finance, VehicLe Finance, Micro Loans etc have significant credit risk.

Appraisal Risk: The borrowers are awarded risk grades and only eligible borrowers are financed. Besides continuous training of
employees through digital media, Credit officers are imparted on the job and class room training on a continuous basis. Credit appraisal
processes are being reviewed regularly by Credit Monitoring teams and credit auditors and more risk filters are added whenever
necessary.

Collection risk: As the gold ornaments are liquid, collection in gold portfolio attaches minimal risks. We have developed a team of
trained Relationship Managers and sales staff for continuous engagement with the borrowers under verticals like Micro Finance,
Vehicle Finance, Housing loans, Micro loans etc to ensure timely payment of their dues. Collection efficiency of verticals are being
monitored closely by the Senior Management.

Concentration risk: As on 31/03/2026, our gold loan portfolio is 88.57% of our consolidated AUM. Gold loans are granted against
liquid securities for short period which substantially insulates from credit risk and liquidity risk.

Our geographical presence is largely in the southern India. We are now giving thrust for opening new branches in north and north
eastern states which have high growth potentials. A geographical exposure limit will be fixed when operations of the new branches
are stabilised.

The credit risk management policy of the Company seeks to have following controls and key metrics that allows credit risks to be
identified, assessed, monitored and reported in a timely and efficient manner in compliance with regulatory requirements.

- Standardize the process of identifying new risks and designing appropriate controls for these risks.

- Maintain an appropriate credit administration and loan review system.

- Establish metrics for portfolio monitoring.

- Minimize losses due to defaults or untimely payments by borrowers.

- Design appropriate credit risk mitigation techniques.

In order to mitigate the impact of credit risk in the future profitability, the company makes reserves basis the expected credit loss
(ECL) model for the outstanding loans as balance sheet date.

The below discussion describes the Company's approach for assessing impairment as stated in the material accounting policies.

The Company considers a financial instrument defaulted and therefore Stage 3 (credit impaired) for ECL calculations in all cases
when the borrower becomes 90 days past due on its contractual payments.

As a part of a qualitative assessment of whether a customer is in default, the Company also considers a variety of instances that may
indicate unlikeness to pay. When such events occur, the Company carefully considers whether the event should result in treating the
customer as defaulted and therefore assessed as Stage 3 for ECL calculations ow whether Stage 2 is appropriate.

Exposure at Default (EAD)

The outstanding balance at the reporting date adjusted for subsequent realisations in the case of Gold Loan, is considered as EAD
by the Company. Considering that the PD determined above factors in amount at default, there is no separate requirement to
estimate EAD.

The Company uses historical information where available to determine PD. Considering the different products and schemes, the
Company has bifurcated its loan portfolio into various pools. For certain pools where historical information is available, the PD is
calculated using Incremental NPA approach considering fresh slippage of past 6 years. For those pools where historical information
is not available, the PD rates as stated by external reporting agencies is considered.

While estimating the expected credit loss, the company reviews macro-economic developments occurring in the economy and
the market it operates in. Forward looking information is considered in addition to historical default rates to assess the probability
of default for Stage 1 and Stage 2 of Loan contracts since it's initial recognition and its measurement of ECL. Accordingly, the
company has assessed that the macro-economic variables that may impact credit risk are GDP growth, Interest and Inflation rates,
Unemployment rates etc. Post management overlay, the PD percentages are mentioned below:

6) OnLending, Corporate Finance and Project and industrial Finance Loan, external ratings or internal evaluation with a management
overlay for each customer.

7) Personal Loans and other verticals, external ratings or internal evaluation with a management overlay for each customer
industry segment.

* Excluding restructured loans, where in Vehicle loan Stage II restructured loans for CV-80% ,BUS -75% and CAR - 60% as at 31^st March, 2026.

** Excludes portfolio where PD has been considered at 100%

In case of Gold loans, incremental NPA is considered after taking into account auctions during the year since such cases are auctioned
and total dues are recovered even before the account turns NPA.

Loss Given Default

The Company determines its recovery rates by analysing the recovery trends over different periods of time after a loan has defaulted.
Based on its analysis of historical trends, homogenous nature of the loans etc, the Company has assessed that significant recoveries
happen in the year in which default has occurred.Recoveries from all the phases like normal collections, auction collections,
repossession sale as well as expected realization from collateral are considered while computing the LGD rates for each loan portfolio.
For different stages such as stage 1,stage 2 & stage 3 portfolios, we are applying same LGD rate except in case of loss assets and
unsecured loans in stage 3 which is at 100%.

*In case of Gold Loan the Loan To Value(LTV), at the time of disbursement is below 75% (As per the RBI norms) and the remaining value (25%) of asset
held by the company acts as a margin of safety, protecting the company against volatility in asset price.LTV is one of the factor for gradation of risk. Also
it reflects in the fixing of interest rates of each type of loans/ schemes. Normally fixing higher interest rate for loans having higher LTV% and vice versa.

LGD Rates have been computed internally based on the discounted recoveries in NPA accounts that are dosed/ written off/
repossessed and upgraded during the year. LGD rates for SME, corporate loans and other loans is considered based on proxy FIRB

rates for secured loans.

In estimating LGD, the company reviews macro-economic developments taking place in the economy. Based on internal evaluation,
company has provided a management overlay in LGD computed for Vehicle and SME portfolios.

As per the RBI guidelines , the ECL policy has been approved by Audit Committee and the Board.Modifications to the ECL model, if
any, is approved by the Board. As part of the management overlays, as per the approved ECL policy, the management has adjusted
the underlying PD as mentioned above and LGD as computed by ECL Model as mentioned above depending on the nature of the
portfolio/borrower, the management's estimate of the future stress and risk and available market information. Refer note 5.2(viii) to
the financial statements.

Asset & Liability management

Disclosures as per Reserve Bank of India (Non-Banking Financial Companies - Financial Statements: Presentation and
Disclosures) Directions, 2025 (Updated as on 1^st April, 2026) to the extent applicable.

Asset and Liability Management (ALM) is defined as the practice of managing risks arising due to mismatches in the asset and liabilities.

Company's funding consists of both long term as well as short term sources with different maturity patterns and varying interest
rates. On the other hand, the asset book also comprises of loans of different duration and interest rates. Maturity mismatches are
therefore common and has an impact on the liquidity and profitability of the company. It is necessary for Company's to monitor and
manage the assets and liabilities in such a manner to minimize mismatches and keep them within reasonable limits.

The objective of this policy is to create an institutional mechanism to compute and monitor periodically the maturity pattern of the
various liabilities and assets of Company to (a) ascertain in percentage terms the nature and extent of mismatch in different maturity
buckets, especially the 1-30/31days bucket, which would indicate the structural liquidity (b) the extent and nature of cumulative
mismatch in different buckets indicative of short term dynamic liquidity and © the residual maturity pattern of repricing of assets and
liabilities which would show the likely impact of movement of interest rate in either direction on profitability. This policy will guide
the ALM system in Company.

The scope of ALM function can be described as follows:

- Liquidity risk management

- Management of market risks

- Others

Liquidity Risk

Liquidity risk refers to the risk that the Company may not meet its financial obligations. Liquidity risk arises due to the unavailability
of adequate funds at an appropriate cost or tenure. The objective of liquidity risk management is to maintain sufficient liquidity
and ensure that funds are available for use as per requirements. The Company consistently generates sufficient cash flows from
operating and financial activities to meet its financial obligations as and when they fall due. Our resource mobilisation team sources
funds from multiple sources, including from banks, financial institutions and capital markets to maintain a healthy mix of sources.
The resource mobilisation team is responsible for diversifying fund raising sources, managing interest rate risks and maintaining
a strong relationship with banks, financial institutions, mutual funds, insurance companies, other domestic and foreign financial
institutions and rating agencies to ensure the liquidity risk is well addressed.

The table below provide details regarding the contractual maturities of significant financial assets and liabilities as on:-

Market Risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate because of changes in market
factor. Such changes in the values of financial instruments may result from changes in the interest rates, credit, liquidity, and other
market changes. The Company is exposed to three types of market risk as follows:

Foreign Exchange Risk(FX Risk)

Forex Risk is a risk that exists when a financial transaction is denominated in a currency other than the domestic currency of the
company. Any appreciation/depreciation of the base currency or the depreciation/appreciation of the denominated currency will affect
the cash flows emanating from that transaction. The company has fully hedged the forex risk by derivative instruments.

Interest Rate Risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates.

We are subject to interest rate risk, principally because we lend to clients at fixed interest rates and for periods that may differ from
our funding sources, while our borrowings are at both fixed and variable interest rates for different periods. We assess and manage
our interest rate risk by managing our assets and liabilities. Our Asset Liability Management Committee evaluates asset liability
management, and ensures that all significant mismatches, if any, are being managed appropriately.

The Company has Board Approved Asset Liability Management (ALM) policy for managing interest rate risk and policy for determining

the interest rate to be charged on the loans given.

The following table demonstrates the sensitivity to a reasonably possible change in the interest rates on the portion of borrowings
affected. With all other variables held constant, the profit before taxes affected through the impact on floating rate borrowings,
as follows:

The Company's exposure to price risk is not material. The drop in gold prices is unlikely to have a significant impact on asset quality
of the company since the disbursement LTV is below 75% and average portfolio LTV as on the reporting period was 62% to 65%
only.However the sustained decrease in market price may cause for decrease in the size of our Gold Loan Portfolio and the interest
income.Management monitors the gold prices on regular basis.

Operational and business risk

Operational risk is the risk of loss arising from systems failure, human error, fraud or external events. When controls fail to operate
effectively, operational risks can cause damage to reputation, have legal or regulatory implications, or lead to financial loss.
The Company cannot expect to eliminate all operational risks, but it endeavours to manage these risks through a control framework
and by monitoring and responding to potential risks. Controls include effective segregation of duties, access, authorisation and
reconciliation procedures, staff education and assessment processes, such as the use of internal audit. A Risk Management Committee
comprising representatives of the Senior Management, reviews matters relating to operational and business risk, including corrective
and remedial actions as regards people and processes.

Note 47: Loans and advances in the nature of loans given to subsidiaries and associates and Firms/ companies in
which directors are interested
Loan given to subsidiary:

a) Manappuram Home Finance Limited ( wholly owned)

Balance as at 31^st March, 2026 : 'Nil(31^st March, 2025: 'Nil)

Maximum amount outstanding during the year 'Nil (31^st March, 2025: '250 Mn)

Maximum amount of undrawn credit line available with the subsidiary during the year: 1500 Mn (31^st March, 2025: 1500 Mn)

b) Asirvad Micro Finance Limited

Balance as at 31^st March, 2026 : '6900 Mn (31^st March, 2025: 'Nil)

Maximum amount outstanding during the year ' 7500Mn (31^st March, 2025: 'Nil)

Maximum amount of undrawn credit line available with the subsidiary during the year: Nil (31^st March, 2025: 5000 Mn)

Loan given to companies in which directors are interested: Nil (31^st March, 2025: 'Nil)

(v) Top 20 Large Deposits

Not Applicable

(Vi) Institutional set up for liquidity risk management

The Board of Directors of the Company has an overall responsibility and oversight for the management of all the risks, including
liquidity risk. The Board approves the governance structure, policies, strategy and the risk tolerance limit for the management of
liquidity risk. The Board of Directors approves the constitution of Risk Management Committee (RMC) for the effective supervision
and management of various aspects including liquidity risks faced by the company. The meetings of RMC are held at quarterly
interval The Board of Directors also approves constitution of Asset Liability Committee (ALCO), consisting of the Company's top
management which functions as the strategic decision-making body for the asset-liability management of the Company from
risk-return perspective and within the risk appetite and tolerance limits approved by the Board. The role of the ALCO also includes
periodic revision of interest rates, diversification of source of funding and its mix, maintenance of enough liquidity and investment of
surplus funds. ALCO meetings are held once in a quarter or more frequently as warranted from time to time. The important matters
relating to ALCO meetings are placed before the RMC and minuts of ALCO meeting placed before the Board of Directors in its next
meeting for its perusal/approval/ratification.

iv) Net profit or loss for the period, prior period items, changes in accounting policies and subsequent events

a) There are no prior period items which are impacting Company's current year Profit and Loss.

b) There is no change in accounting policy which are impacting Company's current year Profit and Loss.

c) Pursuant to the approval of the Board of the Directors of the Company in its meeting held on 30 March, 2026, the Company has

subscribed towards right issue of 17,91,88,333 equity shares of its subsidiary, Asirvad Microfinance Private Limited at a price
of ' 44/- per share for a total amount of ' 788.43 crores, which were allotted on 10 April, 2026, whereby the total holding of
the Company in the said subsidiary has increased to 98.97%.

d) Pursuant to the approval of the Board of the Directors of the Company in its meeting held on 30^th March 2026, the Company
has subscribed towards right issue of equity shares of its wholly owned subsidiary, Manappuram Home Finance at par value
of ' 10/- share amounting to ' 150 crores on 06 April, 2026.

In regards to point (c ) and (d), since the allotment occurred after the reporting date, the transactions has been considered as a
non-adjusting event in accordance with Ind AS 10 and accordingly no adjustment has been made in the Standalone Financial
Statements and Standalone Financial Results for the financial year ended 31 March 2026.

Note 60: Disclosures as per Reserve Bank of India (Non-Banking Financial Companies - Financial Statements:
Presentation and Disclosures) Directions, 2025 (Updated as on 1^st April, 2026) to the extent applicable.

In accordance with the regulatory guidance on implementation of Ind AS issued by RBI on 13^th March, 2020, the company has
computed provisions as per Income Recognition Asset Classification and Provisioning (IRACP) norms issued by RBI solely for

comparative purposes as specified therein. A comparison between provisions required under IRACP and impairment allowances
made under Ind AS 109 is given below:

The Company has adopted Liquidity Risk Management (LRM) framework on liquidity standards as prescribed by the RBI

guidelines and has put in place requisite systems and processes to enable periodical computation and reporting of the Liquidity
Coverage Ratio (LCR). The mandated regulatory threshold is embedded into the Liquidity Risk The Company computes the
LCR and reports the same to the Asset Liability Management Committee (ALCO) every month for review as well as to the ALM
Committee of the Board.

** The Company follows the criteria laid down by RBI for calculation of High Quality Liquid Assets (HQLA),gross outflows and inflows within the next
30-day period. HQLA predominantly comprises unencumbered Cash and Bank balances,Government securities viz., Treasury Bills, Central and State
Government securities, Investments in TREPs (Triparty Repo trades in Government Securities provided by The Clearing Corporation of India).

The Board shall have the overall responsibility for management of liquidity risk. The Board shall decide the strategy,policies and
procedures to manage liquidity risk in accordance with the liquidity risk tolerance/limitsdecided by itfrom time to time.The ALM
Committee of the Board of Directors shall be responsible for evaluating the liquidity risk.Further details regarding management
responsibilities on Liquidity Risk Management is disclosed under note 56(vi).

Note 64:Disclosure as per amended Schedule III to the Companies Act,201364A: Disclosure on the following matters required under Schedule III as amended not being or applicable in case
of the company,same are not covered such as

a) No proceedings have been initiated or are pending against the Company for holding any Benami property under the Benami
Property (Prohibition) Act ,1988 (45 of 1988)and the rules made thereunder.

b) The company has not been declared willful defaulter by any bank or financial institution or government or any government
authority.

c) No registration or satisfaction of charges are pending to be filed with ROC.

d) The company has not entered into any scheme of arrangement.

e) There are no transactions which have not been recorded in the books.

f) The company has not traded or invested in crypto currency or virtual currency during the financial year.

g) There are no significant regroupings/re-classification for the year under audit.

h) There are no transactions relating to previously unrecorded income that have 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.

i ) For the financial year ended 31^st March, 2026 and previous year ended 31^st March, 2025, the quarterly statements or
returns filed by the Company with banks/ financial institutions differ for an amount which not material in nature when
compared with books of accounts.

64B: Utilisation of Borrowed funds or share premium

(i) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources
or kind of funds) by the company to or in any other person(s) or entity(ies),including foreign entities("Intermediaries”),with
the understanding,whether recorded in writing or otherwise,that the Intermediary shall,whether, directly or indirectly lend
to or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) No funds have been received by the Company from any person(s) or entity(ies),including foreign entities("Funding
Parties”),with the understanding,whether recorded in writing or otherwise,that the Company shall,whether, directly or
indirectly lend to or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding
Party("Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Detail of resolution plans implemented under the "Resolution framework for COVID-19-related Stress” as per the RBI
notification no. RBI/2020-21/16 DOR.NO.BP.BC/3/21.04.048/2020-21 dated 06 August, 2020 and RBI/2021-22/31 DOR.STR.
REC.11/21.04.048/2021-22 dated 05 May, 2021 as at 31^st March, 2026 are given below.The resolution plans were based on the
parameters laid down in the resolution policy approved by the Board of Directors of the Company and in accordance with the
guidelines issued by the Reserve Bank of India.

Note 70:MSME Restructuring disclosure

The disclosure as required under RBI notification No.RBI/2020-21/17 D0R.No.BP.BC/4/21.04.048/2020-21 on Micro, Small and
Medium Enterprises (MSME) sector - Restructuring of Advances dated 6^th August, 2020, and under RBI Notification No.RBI/2021-22/32

DOR.STR.REC.12/21.04.048/2021-22 dated 5^th May, 2021 are as follows:

Note 73: Divergence in asset classification and provisioning above a certain threshold to be decided by the Reserve
Bank.

The RBI has neither assessed any additional provisioning requirements in excess of 5 % of the reported profits before tax and
impairment Loss on financial instruments for the financial year ended 31^st March, 2025, nor identified any additional Gross NPA in

excess of 5 % of the reported gross NPA for the said period.

Note 74: Items of income and expenditure of exceptional nature.

There were no items of income and expenditure of exceptional nature for the financial year ended 31^st March, 2026 (31^st March,
2025- '197.77 Mn)

Note 75:Disclosure on modified opinion,If any,expressed by auditors,its impact on various financial items and views
of management on audit qualifications

The auditors have expressed an unmodified opinion on the standalone financial statements of the Company for the financial years
ended 31^st March, 2026 and 31^st March, 2025.

Note 76: Disclosure on Long Tem Contracts

The company did not have any long-term contracts including derivative contracts for which there were any material foresseeable losses.

Note 77: Disclosure on Investor Education and Protection Fund

During the year ended 31^st March, 2026, the Company has transferred an amount of ' 4.35 million representing unclaimed dividend
& Unpaid matured NCD to the Investor Education and Protection Fund, in accordance with the provisions of Section 125 of the
Companies Act, 2013.

Note 78: Unsecured advances

The Company has not granted unsecured advances against collateral of intangible securities such as charge over the rights, licenses
or authority.

Note 79: Whistle- Blower Complaints

There were Nil complaints received by the company during the financial year ended March 31, 2026 and March 31, 2025.

Note 80: Audit Trail

The Company uses accounting software for maintaining its books of account which has a feature of recording audit trail (edit log)
facility and the same has operated throughout the year (at application level and at database level) for all relevant transactions
recorded in the software. Further, the audit trail has been preserved by the Company as per statutory requirements for record
retention.

Note 81. Details of financing of parent company products

The Company does not have any parent company, hence not applicable.

Note 82: Previous year figures

Previous year figures have been regrouped/reclassified, where necessary, to conform current year's classification.