I. Provisions and contingent liabilities

Provisions represent liabilities for which the amount or timing is uncertain. Provisions are recognised when the Company has a
present obligation (legal or constructive), as a result of past events, and it is probable that an outflow of resources, that can be
reliably estimated, will be required to settle such an obligation.

Provisions are determined by discounting the expected future cash flows specific to the liability using an appropriate pre-tax
discount rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to
the liability. The unwinding of the discount is recognised in the statement of profit and loss as a finance cost. A provision for
onerous contracts is measured at the present value of the lower of the expected cost of terminating the contract and the expected
net cost of continuing with the contract. Before a provision is established, the Company recognises any impairment loss on the
assets associated with that contract. Provisions are reviewed at each reporting date and are adjusted to reflect the current best
estimate

A disclosure for a contingent liability is made when there 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 may, but will probably not, require an outflow of resources.

A contingent asset is not recognised but disclosed in the Financial Statements where an inflow of economic benefit is probable.

J. Leases

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. If the contract contains a lease, it is accounted as right to use asset and the corresponding lease
liability. The Company elects, not to recognise lease contract as lease asset and lease liability for short term leases with a lease
term of not more than 12 months and to leases of low value assets.

• Right to use asset is measured at cost, which comprises of initial amount of lease liability adjusted for advanced lease
payments plus initial direct cost and estimated cost to dismantle and remove the asset. The right to use asset is measured
at a cost model and is depreciated on a straight line basis over a period of lease term or useful lie, whichever is lower.

• I nitial measurement of lease liability is made at present value of lease payments discounted at incremental borrowing rate.
Subsequently, lease liability is reduced to the extent of lease payments and increases to the extent of unwinding of interest
on lease liability.

• Lease payments associated with the short term and low value is recognised in the statement of profit and loss on a straight
line basis over a period of lease term

The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered by an
option to extend or terminate the lease if the Company is reasonably certain based on relevant facts and circumstances that
the option to extend or terminate will be exercised. If there is a change in facts and circumstances, the expected lease term is
revised accordingly.

K. Impairment of non-financial assets

The carrying values of assets/cash generating units at each balance sheet date are reviewed for impairment if any indication of
impairment exists. If the carrying amount of the assets exceeds the estimated recoverable amount, impairment is recognised for
such excess amount.

The recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the
future cash flows to their present value based on an appropriate discount factor.

When there is an indication that an impairment loss recognised for an asset (other than a revalued asset) in earlier accounting
periods no longer exists or may have decreased, such a reversal of impairment loss is recognised in the Statement of Profit and
Loss, to the extent the amount was previously charged to the Statement of Profit and Loss. In case of revalued assets, such reversal
is not recognised.

L. Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original
maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company's cash management.

M. Segment Reporting

The Chief Operating Decision Maker (CODM) monitors the operating results of its business segments separately for the purpose
of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit
and loss and is measured consistently with profit or loss in the Financial Statements. Operating segments have been identified
on the basis of nature of products / services.

The Accounting Policies adopted for segment reporting are in line with the Accounting Policies of the Company. Segment
assets include all operating assets used by the business segments and consist principally of fixed assets, trade receivables and
inventories. Segment liabilities include the operating liabilities that result from the operating activities of the business. Segment
assets and liabilities that cannot be allocated between the segments are shown as part of unallocated corporate assets and
liabilities respectively. Income / Expenses relating to the enterprise as a whole and not allocable on a reasonable basis to business
segments are reflected as unallocated corporate income / expenses.

The Segment disclosure are given in the Consolidated Financial Statements by virtue of exemption given in Ind AS — "Operating
Segment".

N. Earnings per share

Basic Earnings per share is calculated by dividing the net profit for the period attributable to the equity shareholders by the
weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per
share, the net profit for the period attributable to the equity shareholders and the weighted average number of equity shares
outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

O. Cash flows

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is adjusted for the effects of transactions
of non-cash nature and any deferrals or accruals of past or future cash receipts or payments and item of income or expenses

associated with investing or financing cash flow. The cash flows from operating, investing and financing activities of the Company
are segregated based on available information.

P. Dividends

Final dividend on shares is recorded as a liability on the date of approval by the shareholders and Interim dividends are recorded
as a liability on the date of declaration by the Company's Board of Directors.

Q. Recent Amendments

Ministry of Corporate Affairs ("MCA") notifies new amendments to the existing standards under Companies (Indian Accounting
Standards) Rules as issued from time to time. For the year ended March 31, 2026, MCA has notified amendments to Ind AS
21 - The Effects of Changes in Foreign Exchange Rates, Ind AS 1 - Presentation of Financial Statements, Ind AS 7 - Statement of
Cash Flows, Ind AS 107 - Financial Instruments: Disclosures and Ind AS 12, International Tax Reform — Pillar Two Model Rules.
The company has reviewed the new pronouncements and based on its evaluation given necessary impact (including additional
disclosures) as applicable

Terms/rights attached to equity shares

i) The Company has one class of equity shares having a par value of '10 per share. Each holder of equity shares is entitled to one
vote per share.

ii) I n 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.

Proposed Dividend

The Company declares and pays dividends in Indian rupees. The Board of Directors of the Company have recommended final dividend
for the financial year ended March 31, 2026 @ '60 per share aggregating to '241.01 crores on 4,01,68,315 Equity shares having
face value of '10/- each fully paid. This will be paid after approval of shareholders at the ensuing Annual General Meeting.

The actual dividend amount is dependent upon the relevant share capital outstanding as on the record date / book closure.

Foreign currency loans are taken from State Bank of India, Tokyo and State Bank of India Gift City , Rupee term Loan is taken from
Kotak Mahindra bank. The details of security and terms of repayment is as under

a) Details of security

The Foreign Currency Term Loan from State Bank of India, Tokyo:- It is secured by way of a First Charge on movable and
immovable fixed assets of the Company by way of Hypothecation / Equitable Mortgage of Khatalwad Unit and Office Building
(Building No. 4 Corporate park, Chembur). Minimum Fixed Assets Coverage Ratio (FACR) of 1.25 to be maintained during the
entire tenor of the loan.

The Foreign Currency Term Loan from State Bank of India, Gift City:- It is secured by way of a first charge on movable and
immovable fixed assets of the Company (office premises of building no 4 corporate park Chembur, manufacturing facilities at
Lapanga, Jharsuguda and Khatalwada unit, central warehousing and testing unit at Silvassa) by way of Hypothecation/Equitable
Mortgage. Minimum Fixed Assets Coverage Ratio (FACR) of 1.25 to be maintained during the entire tenor of the loan.

Term Loan from Kotak Mahindra Bank:- The Term Loan is secured by way of first pari-passu charge on movable and immovable
fixed assets relating to the new manufacturing facilities situated at Khatalwada — Tumb Road, Village Khatalwada, Talav Falia,
District Valsad, Gujarat, by way of Hypothecation / Equitable Mortgage together with such other securities, charges and covenants
as stipulated in the sanction letter and financing documents executed with the Bank.

b) Terms of repayment and interest rate of term loan:

Foreign currency term loan from State Bank of India, Tokyo:- Loan is to be repaid in 20 structured quarterly installments.
The repayment has started from 05 September 2021 onwards. First 4 quarterly installments will be of $ 0.5 million each, next
5 quarterly installments will be of $ 0.75 million each, next 1 installment will be $1 million, next 5 quarterly installments of
$1.75 million each, next 2 installment will be of $2 million each and balance 3 installments will be of $ 2.50 each. The interest
is payable at 3 months Libor 1.70% on quarterly basis.

Foreign currency term loan from State Bank of India, Gift City:- It has a moratorium period of 18 months starting from August
2024. Loan is to be repaid in 21structured quarterly installments. First 8 quarterly installments will be $1.11 million each, next
10 quarterly installments will be of $1.60 million each and balance 3 quarterly installments will be of $1.73 million each. The
interest is payable at 3 months SOFR 1.97% on quarterly basis. Out of the total sanctioned limit of $ 40 million, $ 30 million
has been drawn down till the end of the reporting date.

Term Loan from Kotak Mahindra Bank:- The Company has been sanctioned a Term Loan facility aggregating to Rs. 650 crore
for funding capital expenditure towards the new manufacturing unit for cables at Khatalwada, Gujarat. The facility is available for
drawdown up to June 30, 2027.

The loan carries an overall tenor of 72 months including moratorium period of 18 months from the date of first disbursement
and is repayable in 19 structured quarterly instalments after expiry of the moratorium period. The first 13 quarterly instalments
shall be of Rs. 30 crore each, followed by 4 quarterly instalments of Rs. 40 crore each and balance 2 quarterly instalments shall
be of Rs. 50 crore each.

The loan carries interest at 8.25% p.a. linked to RBI Repo Rate with quarterly reset mechanism. The applicable spread over Repo
Rate shall be determined at the time of first disbursement. Interest is payable on monthly basis.

The Company does not have any continuing default as on the Balance Sheet date in respect of repayment of principle and interest.

iii) Supplier Finance Arrangement

The Company has supplier finance arrangement whereby participating supplier may opt to receive early payment of their invoices
from banks. In this arrangement, bank settles the payment to the supplier and the company subequently settles the amounts to the
payer banks. The objective of this arrangement is to benefit supplier with early payments, efficient payment processing and also
allows the the Company to pay over a period of time so as to manage company's overall working capital cycle. The arrangement
does not result in payment cycle exceeding beyond the normal operating cycle of the Company.

44.| EMPLOYEE BENEFITS

(i) Defined Contribution Plans:

The Company makes contributions towards provident fund, superannuation fund and other retirement benefits to a defined
contribution plan. Under the plan, the Company is required to contribute a specified percentage of salary cost to the such plan.

The Company has recognised '13.05 crore (previous year '12.34 crore) for superannuation contribution, for provident fund
contributions and other retirement benefit 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 governed by
respective plans.

(ii) Defined Benefit Plan:

The Employees' Gratuity Fund Scheme which is managed by a Trust is a defined benefit plan. The present value of obligation
is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as
giving rise to additional unit of employee benefit entitlement and measures each unit seperately to build up the final obligation.

The obligation for leave encashment is measured in the same manner as gratuity. The Company provides for leave encashment
liabiltiy as per the acturial valuation carried out as at March 31, 2026. The Company has recognised '22.3 crore (previous year
'4.03 crore) for leave encashment liability in the statement of profit and loss.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate
risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly
to reflect changes in market conditions and the Company's activities. The Company, through its training and management standards
and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles
and obligations.

(A) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument defaults in meeting
its contractual obligations. It arises principally from amounts receivables from customers and loans and advances. The Company's
export receivables are covered under ECGC credit insurance policy. The Company also takes credit insurance for its domestic
receivable's in Conductor & Cable division. The Company's receivable are also covered under letter of credit, trade insurance etc.

The carrying amount of following financial assets represents the maximum credit exposure:

At March 31, the maximum exposure (age wise) to credit risk for trade and other receivables is as follows.

Trade Receivables

47. FINANCIAL INSTRUMENTS

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

(A) Credit risk;

(B) Liquidity risk ; and

(C) Market risk

Risk management framework

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management
framework. The board of directors has established the Risk Management Committee, which is responsible for developing and
monitoring the Company's risk management policies. This committee reports to the board of directors.

Management believes that the unimpaired amounts which are past due are fully collectible.

In accordance with Ind-AS 109, the Company applies Expected Credit Loss (ECL) model for measurement and recognition of
impairment loss on trade receivables and other advances.

The Company follows 'simplified approach' for recognition of impairment loss on these financial assets. The application of
simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance
based on lifetime ECLs at each reporting date, right from its initial recognition.

The entity has used a practical expedient by computing the expected credit loss allowance for trade receivables based on
a division wise provision matrix. The provision matrix takes into account historical credit loss experience, delay in receipt of
payments and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days
the receivables are due and the rates as given in the provision matrix. The provision matrix at the end of the reporting period
is as follows:

Other non-current financial assets

Other non-current financial assets includes earnest money deposit, security deposits to customers. These advances and deposits
were made in continuation of business related activities and are made after review as per company's policy.

Cash and cash equivalents

The Company holds cash and cash equivalents of '617.16 Crore (previous year '639.99 Crore). The cash and cash equivalents
are held with the banks and financial institutions having good credit ratings.

Derivatives

Derivatives are entered with counterparties having good credit ratings.

(B) Liquidity risk

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

The Company also participates in a supply chain financing arrangement ("SCF") with the principal purpose of facilitating efficient
payment processing of supplier invoices. While the SCF does not significantly extend payment terms beyond the normal terms
agreed with other suppliers that are not participating, the programme assists in making cash outflows more predictable as a part
of liquidity management.

The gross inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to the financial
liabilities which are not usually closed out before contractual maturity. The disclosure shows net cash flow amounts for derivatives
that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have simultaneous gross cash settlement.

Contractual outflow of other non current financial liabilities amounting to '3.1 crores (previous year '5.91 crores) has not been
included above as the amount cannot be ascertained as on the reporting date.

The amounts included above for financial guarantee contracts are the maximum amounts the Company could be forced to settle
under the arrangement for the full guaranteed amount if that amount is claimed by the counterparty to the guarantee. Based on
expectations at the end of the reporting period, the Company considers that it is more likely than not that such an amount will
not be payable under the arrangement.

(C) Market risk

Market risk is the risk that changes in market prices — such as foreign exchange rates and interest rates — will affect the Company's
profit / loss or the value of holdings of it financial instruments. Market risk is attributable to all market risk sensitive financial
instruments including foreign currency receivables and payables.

The Company is exposed to market risk primarily related to foreign exchange rate risk and interest rate risk. Thus, exposure to
market risk is a function of investing and borrowing activities and revenue generating and operating activities in foreign currency.

Commodity risk

The Company is affected by the price volatility of certain commodities viz. Aluminum, Copper and Oil. Its operating activities
require the ongoing purchase and manufacture of the conductors, cables and Oil and thus requires continuous supply of these
commodities. Due to the increase in volatility of the price of the commodities namely Aluminum and Copper, the Company has
entered into forward contracts (for which there is an active market).

Currency risk

The Company is exposed to currency risk. The functional currency of the Company is Indian Rupee ('). The Company uses forward
exchange contracts to hedge its currency risk, most with a maturity of less than one year from the reporting date.

The Company does not use derivative financial instruments for trading or speculative purposes.

Exposure to currency risk

The summary quantitative data about the Company's exposure to currency risk as reported to the management of the Company
is as follows:

48. HEDGE ACCOUNTING

The objective of hedge accounting is to represent, in the Company's financial statements, the effect of the Company's use of financial
instruments to manage exposures arising from particular risks that could affect profit or loss.

Currency risk-

The Company's risk management policy is to hedge its estimated foreign currency exposure in respect of highly forecasted sales. The
Company uses forward exchange contracts to hedge its currency risk. Such contracts are generally designated as fair value hedges.
Company's policy is to match the critical terms of the forward exchange contracts with that of the hedged item.

Commodity risk-

The Company's risk management policy is mitigate the impact of fluctuations in the aluminium/copper/zinc prices on highly forecast
purchase transactions. The Company uses futures contract to hedge its commodity risk. Such contracts are generally designated as
cash flow hedges.

For derivative contracts designated as hedge, the Company documents at inception the economic relationship between the hedging
instrument and the hedged item, the hedge ratio, the risk management objective for undertaking the hedge and the methods used
to assess the hedge effectiveness. The hedging book consists of transactions to hedge balance sheet assets or liabilities. The tenor of
hedging instrument may be less than or equal to the tenor of underlying hedged asset or liability.

Financial contracts designated as hedges are accounted for in accordance with the requirements of Ind AS 109 depending upon the
type of hedge.

Hedge effectiveness is ascertained at the time of inception of the hedge and periodically thereafter. The Company assesses hedge
effectiveness both on prospective and retrospective basis. The prospective hedge effectiveness test is a forward looking evaluation
of whether or not the changes in the fair value or cash flows of the hedging position are expected to be highly effective on offsetting
the changes in the fair value or cash flows of the hedged position over the term of the relationship.

On the other hand, the retrospective hedge effectiveness test is a backward-looking evaluation of whether the changes in the fair value
or cash flows of the hedging position have been highly effective in offsetting changes in the fair value or cash flows of the hedged
position since the date of designation of the hedge. Hedge effectiveness is assessed through the application of critical terms match
method/Dollar offset method. Any ineffectiveness in a hedging relationship is accounted for in the statement of profit and loss.

57. EXCEPTIONAL ITEM

Pursuant to the notification by the Ministry of Labour & Employment on November 21, 2025 of the Code on Wages, 2019, the
Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions
Code, 2020 (collectively referred to as "the Labour Codes"), The Government had approved the Code on Social Security, 2020,
which will impact the Company's employee benefit obligations. The Company has recognized past service cost amounting to Rs 32.36
crores for gratuity and compensated absences payable to employees based on best possible estimates available, which is accounted
for under "Exceptional items" in accordance with Ind AS 19 - 'Employee Benefits' and FAQs on key accounting implications arising
from the New Labour Codes issued by the Institute of Chartered Accountants of India ('ICAI') in its financial statement and is in the
process of evaluating other possible impacts.

58. | ADDITIONAL DISCLOSURES

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

(ii) The Company did not have any material transactions with companies struck off under section 248 of the Companies Act, 2013
or Section 560 of the Companies Act, 1956 during the financial year.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(iv) The Company have not traded or invested in crypto currency or virtual currency during the period.

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

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

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

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the
understanding (whether recorded in writing or otherwise) that the company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
funding party (ultimate beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries,

vii) The Company has no such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant
provisions of the Income Tax Act, 1961.

viii) The Company is not declared as willful defaulter by any bank or financial Institution or other lender.

ix) During the year the Company has not entered into any scheme of arrangement.