(vii) Terms/ rights attached to equity shares

The Company has only one class of equity share capital having par value of INR 10/- per share (March 31, 2024: INR 10/- per share). Each shareholder is entitled to one vote per share held. The Company declares and pays dividend in Indian rupees (INR). The dividend proposed by the Board of Directors is subject to the approval of shareholders in ensuing Annual General Meeting.

In the event of liquidation of the Company, the equity shareholders will be entitled to receive remaining assets of the Company after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders.

During the last five years, the Company has not made any bonus issue or issued any shares for consideration other than in cash.

(a) Share warrants forfeited account shall be utilized as per provisions of Companies Act, 2013.

(b) Capital redemption reserve has been created upon buy back of shares effected during financial year 2020-21. Subject to the provisions of Act, it can be utilized to issue fully-paid bonus shares to the members of the Company.

(c) General reserve is created out of the profits earned by the Company by way of transfer from surplus in the statement of profit and loss. The Company can use this reserve for payment of dividend, issue of bonus shares and fully / partly paid-up equity shares.

(d) Retained earnings represents undistributed profit of the company which can be distributed to its equity shareholders in accordance with requirements of Companies Act, 2013. Retained earnings include re-measurement loss/(gain) on defined benefit plans, net of taxes that will not be reclassified to statement of profit and loss.

(i) Working capital demand loan in foreign currency and cash credit facility is secured against entire current assets of the Company both present and future. The tenure of these facility is for a maximum period of 180 days. Interest rate range from SOFR spread of 50-150 bps (March 31, 2024: Libor spread of 40-300 bps).

(ii) Working capital demand loan in indian rupee is unsecured. The tenure of the facility is for a maximum period of 180 days. Interest rate of rupee denominated short term loan ranges from 7.50% to 9.75% (March 31, 2024: 8% to 11%).

(iii) Loan from bank contain certain financial covenants. The Company has satisfied all these covenants prescribed in the sanction letter of above loan.

(iv) The Company has not made any default in the repayment of loans to banks including interest thereon.

(ii) The trade payables are unsecured and non interest-bearing and are usually on varying trade term with ranges from 0 to 90 days.

(iii) Trade Payables include due to related parties amounting to INR 2.38 Lakh (March 31, 2024: INR Nil) [refer to note 47].

(iv) For terms and conditions with related parties [refer to note 47].

(v) Trade payable includes unbilled dues amounting to INR 954.40 Lakh as at March 31, 2025 (March 31, 2024: INR Nil) included under “Not due” category.

(vi) Information as required to be furnished as per section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) for the year ended March 31, 2025 is given below. This information has been determined to the extent such parties have been identified on the basis of information available with the Company.

(a) Trade receivable represents the amount of consideration in exchange for goods or services transferred to the customers that is unconditional.

(b) The Company has entered into the agreement with customers for sales of goods. Contract liabilities arises in respect of contracts where the Company has obligation to deliver the goods for which the Company has received consideration in advance. Contract liabilities are recognized as revenue when the Company performs obligation under the contract (i.e. transfers control of the related goods to the customer). There is increase in contract liabilities during the year mainly due to the amount collected in the current year for which performance obligation is yet to be satisfied.

(c) Performance obligations:

Performance obligation in respect of sale of goods is satisfied when control of the goods is transferred to the customer, generally on delivery of the goods and payment is generally due as per the terms of contract with customers (i.e. Inco terms).

40 Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to the owners of the Company by the weighted average number of equity share outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit for the year attributable to the owners of the Company by the weighted average number of equity share outstanding during the year plus weighted average number of equity shares into equity shares.

The following table reflects the income and share data used in the basic and diluted EPS computations:

(i) INR Nil (March 31, 2024: INR 210.89 Lakh) represents demand for AY 21-22 on account of certain additions made by assessing officer. The Company has filed rectification and favorable rectification order has been received in current year.

INR 21.65 (March 31, 2024: INR 21.65 Lakh) represent demand for AY 2013-14 by the assessing officer. The Company has contested the demand and has paid a deposit under protect of INR 5.50 Lakh (March 31, 2024: INR 5.50 Lakh).

Based on management assessment and discussion with legal consultant the management is confident that the demand is not sustainable and accordingly no provision is required to be made in this regard.

(ii) There are various disputes pending with GST and sales tax authorities. The Company is contesting the demand raised by the authorities. Based on management's assessment and grounds of appeal, the management believes that there is strong likelihood of succeeding before the various authorities. Accordingly, no adjustments have been made in the standalone financial statements, pending the final resolution of these matters.

(iii) There are few labor law related matters which are pending in various forums. The Company has contested these matters and believes no material liability demanding against the Company.

(i) CSR amount has been incurred for promoting education, art and culture, promoting health care including preventive health care and other diversified projects as approved in schedule VII of the Companies Act, 2013.

(j) Subsequent to the year end, pursuant to Companies (CSR Policy) amendment rules, the unspent CSR amount INR 71.40 Lakh (March 31, 2024: INR 27.33 Lakh) has been deposited in separate bank account.

(k) During the current year, the Company has contributed INR 450 Lakh (March 31, 2024: INR 800 Lakh) to Rekhta Foundation (“the Trust”) towards ongoing projects undertaken by the Trust. Out of the current year’s contribution, INR 450 Lakh has been utilized for the specified project-related activities. As of the reporting date, there is no unspent CSR amount (March 31, 2024: INR Nil) with the trust.

43 Segment information

As per Ind AS - 108, operating segment have been defined based on review by chief operating decision maker (CODM) to assess the performance and make decision about allocation of resources to each segment. The Company business activities falls within single primary business segment viz, manufacturing of “Polymeric films”. Accordingly, disclosure under Ind AS 108, operating segments are not required in these standalone financial statements.

(i) These financial statement are separate financial statements prepared in accordance with Ind AS-27 " Separate Financial Statements”.

(ii) The company has accounted for investment in the above entities at cost less impairment loss, if any.

(iii) The Company holds 51% (March 31, 2024: 51%) shares in the subsidiary company namely “Polyplex (Thailand) Public Company Limited” out of which 17.19% (March 31, 2024: 17.19%) shareholding is held by the Company directly and balance 33.81% (March 31, 2024: 33.81%) shares are held by the Company through its subsidiary company namely "Polyplex (Asia) PTE. Limited”.

46 Employee benefit obligations

Disclosures pursuant to Ind AS - 19 "Employee Benefits” (notified under the section 133 of the Companies Act 2013 (the Act) read with Companies (Indian Accounting Standards) Rule 2015 (as amended from time to time) and other relevant provision of the Act) are given below:

(A) Defined benefit plan

The Company operates following defined benefit obligations:

(a) Gratuity: The employees’ Gratuity Fund Scheme, which is a defined benefit plan, is managed by the trust which maintains its investments with Life Insurance Corporation of India (LIC). The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the gratuity plan, every employee who has completed at least five years of service usually gets a gratuity on departure equivalent to 15 days of last drawn basic salary for each completed year of service. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

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:

(x) The plan assets are maintained with Life Insurance Corporation of India (LIC).

(xi) Discount rate is based on the prevailing market yields of Indian Government securities as at the balance sheet date for the estimated term of the obligations.

(xii) Enterprise best estimate of contribution during the next year is INR 200 Lakh (March 31, 2024: INR 200 Lakh)

(xiii) The sensitivity analyses above have been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period while holding all other assumptions constraint. In practice it is unlikely to occur and change in some of the assumption may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognized in the balance sheet.

(xiv) The weighted average duration of defined benefit plan obligation at the end of each reporting period is 7.59 years (March 31, 2024: 8.39 years).

(xv) The estimates of rate of escalation in salary considered in actuarial valuation are after taking into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is as certified by the Actuary.

(xvi) The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

(a) The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through payment. The Company has not recorded any impairment of receivables relating to amounts owed by related parties for the year ended March 31, 2025 (March 31, 2024: Nil ). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

(b) Terms and conditions related to material transactions are as below:

(i) Revenue from sale / purchase of products and services

Transactions of sales /purchase of products and services with related parties are entered into on the same terms as applicable to third parties in an arm’s length transaction and in the ordinary course of business. The Company mutually negotiates and agrees consideration and payment terms with the related parties by benchmarking the same to transactions with non-related parties, who purchase/sale product and services of the Company in similar terms

(ii) Purchases of property, plant and equipment

Purchases of property, plant and equipment are made from related parties on the same terms as applicable to third parties in an arm’s length transaction. The Company mutually negotiates and agrees price and payment terms with the related parties by benchmarking the similar transaction from non-related parties.

(iii) Outstanding balance from / to related parties

Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through payment. The Company has not recorded any impairment of receivables relating to amounts owed by related parties for the year ended March 31, 2025 (March 31, 2024: Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

Valuation Techniques

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged

in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and

assumptions were used to estimate the fair value:

(i) The fair values of the Company’s interest-bearing borrowings are determined by using effective interest rate (EIR) method using discount rate that reflects the issuer’s borrowing rate as at the end of the reporting period. The own non-performance risk as at March 31, 2025 was assessed to be insignificant.

(ii) Long-term receivables/payables are evaluated by the Company based on parameters such as interest rates, risk factors, individual creditworthiness of the counterparty and the risk characteristics of the financed project. Based on this evaluation, allowances are taken into account for the expected credit losses of these receivables.

(iii) The carrying value of financial assets and financial liabilities measured at amortized cost in financial statement are a reasonable approximation of their value since the Company does not anticipate that the carrying amount would be significantly different from the values that would be entitled to received or settled.

(iv) The fair values of the investment in mutual fund has been determined based on net assets value (NAV) available in open market.

(v) The Company has entered into derivative financial instruments with banks comprising of forward exchange contract, valued at mark to market using valuation techniques which employs the use of market observable inputs. As at year end, the mark-to-market value of these forward contract is based on confirmation from bank and is net of a credit valuation adjustment attributable to derivative counterparty default risk. The changes in counterparty credit risk had no material effect on the financial instruments recognized at fair value.

(vi) Investments in equity shares of subsidiary are measured at cost as per Ind AS 27, “Separate financial statements” and are not required to be disclosed here.

(vii) Fair value hierarchy

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives and equity securities) is based on quoted market prices at the end of the reporting period for identical assets or liabilities. The mutual funds are valued using the net assets value (NAV) available in open market. The quoted market price used for financial assets held by the group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

There are no transfers among levels 1, 2 and 3 during the year.

49 Foreign exchange forward contracts

The Company has entered into foreign exchange forward contracts and currency swaps with the intention of reducing the foreign exchange risk of foreign currency receivables and payables and are entered into for periods consistent with foreign currency exposure of the underlying transactions. These contracts are not designated in hedge relationships and are measured at fair value through profit and loss.

Fair value loss on financial instruments measured at fair value amounting to INR 94.08 Lakh (March 31, 2024: INR 90.39 Lakh) has been recognized as income in statement of profit and loss account.

50 Financial risk management objectives and policies

The Company, being a manufacturer of polymeric films, is exposed to various market risks, credit risks, and liquidity risks. The Company’s Risk Management Committee (RMC) and Board of Directors have the overall responsibility for establishing and overseeing the Company’s risk management framework.

The RMC comprises four directors, including two independent directors. It periodically reviews operational, financial, and strategic risks and their mitigating factors. The Committee has formulated a comprehensive risk management policy that outlines the framework designed to minimize the impact of uncertainty on the business. The primary objective of this policy is to ensure sustainable business growth with stability and to promote a proactive approach toward identifying, evaluating, reporting, and resolving risks associated with the Company’s operations. This process provides assurance that the Company’s financial risk-taking activities are governed by appropriate policies and procedures, and that financial risks are identified, measured, and managed in accordance with Company policies and risk objectives. Through regular training, management standards, and procedures, the Company aims to maintain a disciplined and constructive control environment where all employees understand their roles and obligations related to risk management.

The Risk Management Committee is supported in its oversight role by the chief risk officer and the risk management team. The RMC undertakes both regular and ad hoc reviews of risk management controls and procedures. The results of these reviews are reported to the Board of Directors.

Below notes explain the sources of risks in which the Company is exposed to and how it manages the risks.

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as commodity risk. Financial instruments affected by market risk include deposits, investments, and foreign currency receivables, payables and derivative financial instruments. The sensitivity analysis in the following sections relate to the position as at reporting date. The analysis exclude the impact of movements in market variables on: the carrying values of gratuity and other post-retirement obligations, provisions and the non-financial assets and liabilities. The sensitivity of the relevant profit and loss item and equity is the effect of the assumed changes in the respective market risks. This is based on the financial assets and financial liabilities held as of March 31, 2025 and March 31, 2024.

(i) 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 also relates to the Company’s operating activities (when revenue or expense is denominated in foreign currency). The Company manages its foreign currency risk partly by taking forward exchange contract for transactions of sales and purchases and partly balanced by purchasing of goods/services from the respective countries. The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established risk management policies.

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s main interest rate risk arises from long-term borrowings and working capital. The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings, and by the use of interest rate swap contracts. The Company optimizes the interest rate risk by regularly monitory the interest rate in the best interest of the Company. The Company has following fixed rate and floating interest rate on long term borrowing:

The main raw materials which company procures are PTA, MEG and homopolymer and their prices are to a great extent linked to the movement of crude prices directly or indirectly and any adverse fluctuation in the raw material cost can impact the Company’s operating margins depending upon the ability of the Company to pass on the increase in costs to its customers. As selling prices are regular negotiated / adjustment of sale prices on the basis of changes in commodity prices. The Company is not significantly impacted by commodity price risk.

(b) Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses. The Company’s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity position and deploys a robust cash management system. The Company manages the liquidity risk by maintaining adequate funds in cash and cash equivalents or adequate sources of financing through the use of short term loans and cash credit facility. Processes and policies related to such risks are overseen by senior management. Management monitors the Company’s liquidity position through rolling forecasts on the basis of expected cash flows. The Company assessed the concentration of risk with respect to its debt and concluded it to be low.

(c) 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 towards the Company. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities including foreign exchange transaction and other financial instrument. The maximum amount of the credit exposure is equal to the carrying amounts of these receivables. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. The company only deals with parties which has good credit rating/worthiness given by external rating agencies or based on company’s past assessment.

(i) Trade receivables

The Company extends credit to customers in normal course of business. The Company considers factors such as credit track record in the market and past dealings for extension of credit to customers. The Company has developed guidelines for the management of credit risk from trade receivables. All customer are subjected to credit assessments as a precautionary measure, and the adherence of all customers to collection due dates is monitored on an on-going basis, thereby practically eliminating the risk of default.

For certain customers, the Company has obtained credit guarantee insurance, which covers up to 95% of the credit risk on outstanding balances, subject to the limits specified in the insurance policy. As a result, the

Company’s exposure to credit risk on these receivables is significantly mitigated. Additionally, the Company’s trade receivables are diversified across a wide base of customers operating in various industries and geographies, thereby eliminating any significant concentration of credit risk.

The Company’s established policy, procedures and control relating to customer credit risk management. An impairment analysis is performed at each reporting date on trade receivables by lifetime expected credit loss method based on provision matrix. The provision rates are based on days past due for grouping at customers with similar loss patterns. The calculation reflects the probability weightage outcome, the time value of money and reasonable and supporting information that is available at the reporting date about the past events, current condition and future forecast. The Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade receivables and contract assets as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

(ii) Financial instruments and deposits

Credit risk from balances with banks is managed by the Company’s treasury department in accordance with the Company’s policy. Investments of surplus funds are made in bank deposits and mutual funds. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure to make payments. The Company’s maximum exposure to credit risk for the components of the balance sheet at March 31, 2025 and March 31, 2024 is the carrying amounts.

The Company has deposited liquid funds at various banking institutions. No impairment loss is considered necessary in respect of these fixed deposits that are with recognized commercial banks and are not past due over past years. Trade receivables and other financial assets are written off when there is no reasonable expectation of recovery, such as debtor failing to engage in the repayment plan with the Company. The Company’s maximum exposure relating to financial instrument is noted in table below:

51 Capital management

For the purposes of Company’s capital management, capital includes issued equity share capital, securities premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to ensure that it maintains an efficient capital structure and maximize shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders or issue new shares. The Company monitors capital using net debt to equity. The Company aims to maintain an optimal capital structure to reduce the cost of capital.

52 Right of use assets and leases liabilities (A) Company as a lessee

(i) Right of use assets: The Company’s lease assets primarily comprise leasehold land taken on lease for its corporate office and plant facilities. These leases have terms ranging from 30 to 90 years. The Company records lease liability at the present value of remaining lease payments discounted at incremental rate of borrowing and has recognized right of use assets equal to lease liability adjusted for any prepayments.

In addition, the Company has entered into certain lease agreements with lease terms of 12 months or less. The Company has elected to apply the short-term lease recognition exemption for these leases and, accordingly, does not recognize lease liabilities or right-of-use assets for such leases. Lease payments associated with these short-term leases are recognized as an expense on a straight-line basis over the lease term.

(vi) The weighted average incremental borrowing rate applied to lease liabilities is 9.00% (March 31, 2024: 9.00%)

(vii) The Company does not face significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligation related to lease liabilities as and when they fall due.

(viii) There is no non-cash activity in current and previous year.

(ix) The Company’s total cash outflow for leases during the year is INR 165.72 Lakh (March 31, 2024: INR 149.80 Lakh).

(x) The Company does not have any outstanding lease restrictions and commitment towards variable rent as per the contract. Also, the Company does not have lease term extension options which not reflect in measurement of lease liabilities.

(B) Company as a lessor

(i) The Company has leased out office space. These leases are for a period of one year or less. The total lease rental recognized during the year is INR 314.84 Lakh (March 31, 2024: INR 223.37 Lakh).

54 Other statutory information

(i) The company does not have any Benami Property where any proceedings have been initiated or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

(ii) The Company has not been declared willful defaulter by any bank or government or any government authority.

(iii) The Company has no balance and transactions with companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956 , except for the following balances with struck-off entities:

(iv) The Company has complied with the number of layers prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

(v) The Company has not advanced or loaned or invested funds to any other person or entity, 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 group (Ultimate Beneficiaries) or

b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

The Company has not received any fund from any person or entity, 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

(vi) The Company does not have 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 provision of the Income Tax Act, 1961).

(vii) The Company has not traded or invested in crypto currency or virtual currency during the current or previous 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.

(x) The borrowings obtained by the Company from banks have been applied for the purposes for which such loans were taken and the Company has not used funds raised on short term basis for long term purpose.

55 The Company has established a comprehensive system of maintenance of information and documents as required by the transfer pricing legislation under section 92-92F of the Income Tax Act, 1961. Since the law requires existence of such information and documentation to be contemporaneous in nature, the Company is in the process of updating the documentation for the transactions entered into with the associated enterprises during the financial year and expects such records to be in existence latest by due date as required under the law. The management is of the opinion that its transactions with the associated enterprises are at arm’s length so that the aforesaid legislation will not have any impact on the financial statements, particularly on the amount of tax expense and that of provision for income tax.

56 The Company have its server physically located in India and the backup of the books of account and other books and papers are being maintained in electronic mode on these servers on daily basis. However, there are certain exceptional days on which the daily backup were not maintained due to system issues. The management is taking necessary steps to ensure that there is a process for daily back as required under the applicable statute. Further, the Company has used accounting software ‘SAP’ for maintaining its books of account which has a feature of recording audit trail (edit log) facility which was enabled throughout the year for all relevant transactions recorded in the software. However, logs with respect to privileged/ administrative access rights were not enabled due to system limitations and performance issues. Further, the Company is in process of implementing the new ERP software and will develop IT infrastructure accordingly. Additionally, consequent to above, the Company was not able to maintain and preserve audit trail in compliance with the requirement of the statute in respect of the year ended March 31, 2024 and March 31, 2025.

57 The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. Certain sections of the Code came into effect on May 03, 2023. However, the final rules/interpretation have not yet been issued. Based on a preliminary assessment, the Company believes the impact of the change will not be significant.

58 The figures for the corresponding previous year have been regrouped/ reclassified, wherever considered necessary, to make them comparable with current year classification.