(a) The Company as a lessee has obtained certain assets such as immovable properties and some plant and machinery on various leasing arrangements for the purposes of setting up of retail stores, work-shops and guest houses. With the exception of short-term leases and leases of low value underlying assets, each lease is reflected on the balance sheet as a right-to-use asset and a lease liability. Variable lease payment which do not depend on an index or a rate are excluded from the initial measurement of the lease liability and right-of-use assets. The Company has presented its right-of-use assets separately from other assets. Each lease generally imposes a restriction that unless there is a contractual right for the Company to sub-lease the asset to another party, the right-of-use asset can only be used by the Company. Some lease contain an option to extend the lease for a further term.

(b) Additional information on extension/ termination options:

Extension and termination options are included in a number of lease arrangements of the Company. These are used to maximise operational flexibility in terms of managing the assets used in the Company's operations. The majority of extension and termination options held are exercisable based on consent of the Company.

(c) There are no leases which are yet to commence as on 31 March 2026 (As on 31 March 2025: Nil).

(a) Senco Gold Artisanship Private Limited, wholly owned subsidiary of the Company has been incorporated in India and is in the business of manufacture and job work of gold and diamond jewellery.

(b) Senco Global Jewellery Trading LLC, wholly owned subsidiary of the Company has been incorporated in Dubai and is in the business of trading of gold and diamond jewellery.

(c) Sennes Fashion Limited, wholly owned subsidiary of the Company has been incorporated in India and is in the business of trading of life style products such as leather products, perfume and labgrown diamond jewellery.

(a) Bank deposits with maturity of more than 12 months, inter alia, includes deposits maintained for the jewellery purchase schemes for compliance with the Companies (Acceptance of Deposit) Rules, 2014 as per the Companies Act 2013, as amended, amounting to ? 68.00 millions

(31 March 2025: ? 169.07 millions).

(b) Bank deposits with maturity of more than 12 months, inter alia, includes amounts held as margin monies with the banks as fixed deposits balances for security against Gold metal loans amounting to ? 10.00 millions (31 March 2025: Nil).

(c) Margin money and security deposit with broker, inter alia, includes deposits maintained by the Company with brokers comprising time deposits for hedging contracts which can be withdrawn by the Company at any point without prior notice or penalty on the principal balance.

(a) Inter alia, includes deposits maintained for the jewellery purchase schemes for compliance with the Companies (Acceptance of Deposit) Rules, 2014 as per the Companies Act 2013, as amended, amounting to ? 360.25 millions (31 March 2025 : ? 238.59 millions)

(b) Inter alia, includes amounts held as margin monies as bank deposit balances for security against gold metal loans amounting to ? 1,030.56 millions (31 March 2025: ? 1,689.00 millions)

(c) Inter alia, includes amounts held in QIP utilisation account with the banks as fixed deposit amounting to Nil (31 March 2025 : ? 930.00 millions) (Refer Note 50)

(d) Inter alia, includes amounts held as margin monies with the banks as security amounting to ? 372.48 millions (31 March 2025 : ? 625.37 millions)

(e) Inter alia, includes amounts held in unpaid dividend account with the banks amounting to ? 0.65 millions (31 March 2025 : ? 0.33 millions)

(f) Inter alia, includes amounts held in QIP utilisation account with the banks amounting to Nil (31 March 2025 : ? 17.82 including unspent QIP expense of ? 13.62 million) (Refer Note 50)

(g) Refer note 48 for information about credit risk and market risk.

(b) Terms and rights attached to shares

Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares having face value of ? 5 each. Accordingly, all equity shares rank equally with regard to dividends and share in the Company's residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company. Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid. Failure to pay any amount called up on shares may lead to forfeiture of the shares. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

(f) Ordinary shares allotted as fully paid pursuant to contract without payment being received in cash during the period of immediately preceding five years: Nil

(g) Shares allotted as fully paid-up by way of bonus shares during the immediately preceding five years: Nil

(h) Aggregate number and class of shares bought back during the year of immediately preceding five years: Nil

(i) During the previous year ended March 2025, the Company completed a Qualified Institutional Placement (QIP) of 4,080,000 equity shares of face value of ? 10 each at a premium of ? 1,115 per share aggregating to ? 4,590.00 million for purposes stated in its placement document. Refer note 50.

(j) During the previous year, the Company had split its equity shares having a nominal face value of ? 10 per equity share into 2 equity shares having a nominal face value of ? 5 per equity share with a record date of 31 January 2025. The effect of the aforesaid share split has been retrospectively adjusted in the number of shares considered for calculation of the basic and diluted earnings per share for all periods presented in accordance with Ind AS 33, Earnings per Share.

The description, nature and purpose of each reserve within other equity are as follows:

(a) Security premium: Security premium is credited when shares are issued at premium. It is utilised in accordance with the provisions of the Companies Act, 2013.

(b) General reserve: The Company had transferred a portion of the net profit of the Company before declaring dividend to general reserve pursuant to the erstwhile provisions of the Companies Act, 1956. Consequent to the introduction of the Companies Act, 2013, there is no such requirement to mandatorily transfer a specified percentage of net profit to general reserve.

(c) Share based payment reserve: This represents the fair value of the stock options granted by the Company, accumulated over the vesting period. The reserve will be utilised on exercise of the options.

(d) Special economic re-investment reserve: It has been created for the purpose of acquiring machinery or plant which is put to use before the expiry of three years following the previous year in which the reserve was created.

(e) Retained earnings: Retained earnings represents the profits earned by the Company till date, less any transfers to general reserve, appropriation, dividends or other distributions made to shareholders.

(f) Equity instruments through OCI: The Company has elected to recognise changes in the fair value of certain investments in equity instruments in the other comprehensive income. These changes are accumulated within the equity instruments through OCI shown under the head other equity.

(b) Cash credit facilities from banks carry interest which ranges between 8.15% p.a. - 11.65% p.a. (31 March 2025 : 8.20% p.a. - 11.60% p.a.), computed on a daily basis on the actual amount utilised, and are repayable on demand. These are secured by way of hypothecation of the Company's entire inventories and such other movables including book debts, bills whether documentary or clean, outstanding monies and receivables, both present and future, pertaining to all shops and showrooms of the Company. Additionally, they are secured by a first pari passu charge on the entire property, plant and equipments, present and future, except for some land and building not provided as collateral in a form and manner satisfactory to the bank. These facilities are also secured by the unconditional and irrevocable personal guarantees given by Mr. Suvankar Sen (Managing Director and Chief Executive Officer) and Mrs. Joita Sen (Chairperson and Whole Time Director).

(c) Short-term demand loan (working capital demand loan) has been availed from banks for financing of the working capital requirement for a period of 7 - 180 days. The rate of interest on the facilities ranges between 8.00% p.a. - 12.75% p.a. (31 March 2025: 8.70% p.a. - 12.50% p.a.), fixed and shall be repayable at monthly rests on the 1st day of the subsequent month/ maturity, wherever applicable. These are secured by way of hypothecation of the Company's entire inventories and such other movables including book debts, bills whether documentary or clean, outstanding monies and receivables, both present and future, pertaining to all shops and showrooms of the Company. Additionally, they are secured by a first pari passu charge on the entire property, plant and equipments, present and future, except for some land and building not provided as collateral in a form and manner satisfactory to the bank. These facilities are also secured by the unconditional and irrevocable personal guarantees given by Mr. Suvankar Sen (Managing Director and Chief Executive Officer) and Mrs. Joita Sen (Whole Time Director)

(d) There has been no default in repayment of principal amount or interest thereon during the current and previous financial year.

(a) Gold metal loans carry interest ranging between 2.50% p.a. - 7.00% p.a. (31 March 2025: 2.25% p.a. - 9.50% p.a.), calculated on the quantum of ounce outstanding. These are repayable within 180 days, if the end use of bullion is for domestic purposes and 270 days, if the end use of bullion is for export purposes. These loans are secured by standby letter of credits provided by the issuing bank to the bullion bank, earmarked cash credit limits, fixed deposits and margin account balances with an excess value of margin money of 1% - 12% (31 March 2025: 1%-12%).

(b) There has been no default in repayment of principal amount or interest thereon during the current and previous financial year.

The Board of Directors of the Company at their meeting held on 12 February 2026 had recommended an interim dividend @15% (?0.75 per equity share of face value of ? 5.00 each) and was subsequently paid. Further the Board of Directors have recommended a final dividend @ 20% (? 1.00 per equity share of ? 5.00 each) for the financial year 2025-26 subject to the necessary approval by the shareholders in the ensuring Annual General Meeting of the Company.

Defined contribution plans

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund, which is a defined contribution plan. The Company has no obligations other than to make the specified contributions. The contributions are charged to the Statement of Profit and Loss as they accrue. The amount recognised as an expense towards contribution to Provident and Pension Fund for the year aggregated to ? 92.36 millions (31 March 2025: ? 74.77 millions)

Defined benefit plans

The Company operates one post-employment defined benefit plan (i.e., gratuity). The gratuity plan entitles an employee, who has rendered at least five years of continuous service, to receive 15 days basic salary for each year of completed service at the time of retirement/exit. Gratuity scheme is funded by the plan assets.

Inherent risk

The plan is defined benefit in nature which is sponsored by the Company and hence it underwrites all the risk pertaining to the plan. In particular, this exposes the Company, to actuarial risk such as adverse salary growth, change in demographic experience, inadequate return on underlying plan assets. This may result in an increase in cost of providing these benefits to employees in future. Since the benefits are lump sum in nature, the plan is not subject to longevity risk.

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions as shown.

(X) The Company is likely to contribute ? 99.97 millions to its gratuity plan for the next year, as determined by an actuarial valuation carried out by an independent third party.

(XI) Risk exposure:

Valuation are based on certain assumptions, which are dynamic in nature and may vary over time. As such valuations of the Company is exposed to follow risks -

a) Salary increase: Higher than expected increases in salary will increase the defined benefit obligation.

b) Discount rate: The defined benefit obligation calculated use a discount rate based on government bonds. If bond yields fall, the defined benefit obligation will tend to increase.

c) Mortality and disability: If the actual deaths and disability cases are lower or higher than assumed in the valuation, it can impact the defined benefit obligation.

d) Withdrawals: If the actual withdrawals are higher or lower than the assumed withdrawals or there is a change in withdrawal rates at subsequent valuations, it can impact defined benefit obligation.

(XII) Effective November 21, 2025, the Government of India has consolidated multiple existing labour legislations into a unified framework comprising of four Labour Codes - The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and The Occupational Safety, Health and Working Conditions Code, 2020. On the basis of information and guidance available on as date, the Company has assessed and duly recorded the incremental financial impact in these financial statements.

Senco Gold Employee Stock Option Scheme- 2018

During the year ended 31 March 2018, the Company implemented its Employee Stock Option Scheme ('the Plan'). The plan was originally approved by the members of the Company on 24 May 2018 and subsequent amendments were approved on 25 October 2021. The Plan enables grant of stock options to the eligible employees of the Company not exceeding 2,000,000 options, which is 1.22% of the paid-up equity share capital of the Company as on 31 March 2026. Further, the stock options to any single employee under the Plan shall not exceed 1% of the issued capital of the Company, at the time of grant of options, during the tenure of the Plan, subject to compliance with applicable law. The options granted under the Plan have a maximum vesting period of 4 years.

The Company is engaged in the business of manufacture and sale of jewellery and other articles of various designs/ specification based on customer's requirements. The Company's manufacturing facilities are located in India and products sold in the domestic and overseas market are manufactured in these facilities. Based on the dominant source and nature of risk and returns of the Company, its internal organisation and management structure and its system of internal financial reporting, business segment has been identified as the primary segment. The Company has only one business segment, viz., sale of jewellery and other articles.

(a) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect to the above, pending resolution of the respective proceedings.

(b) The amounts disclosed above represent the best possible estimates arrived at on the basis of available information.

(c) The above, demand of ? 74.56 millions pursuant to a search and seizure operation under section 132 of the Income-tax Act, 1961 (hereinafter in this note referred to as the 'IT Act') conducted by the Income-tax department in November 2017, notices under section 153A and section 142(1) of the IT Act were issued for the assessment years 2011-12 to 2017-18 on the Company and subsequent demands raised by the Deputy Commissioner of Income-tax on the Company for the said assessment years. The Company has filed appeal against the said orders. Further, the Deputy Director of Income-tax (Investigation), Unit - 2(1), Kolkata, has filed a criminal complaint against the Company and some of the Key Management Personnel under section 277A of the IT Act. Based on the facts of the matter and an independent assessment done by the Company, the management remains fairly confident of a favourable outcome and therefore, does not foresee any material financial liability devolving on the Company in this respect of the aforementioned demand/ litigation and accordingly, no provision has been made in these standalone financial statements.

(d) Against the above demand of ? 105.51 millions (including penalty amounting ? 89.57 millions) towards excess CENVAT credit availed in the financial year 2016-17. The Company has filed an appeal against the order before CESTAT (Kolkata). Further, the Company does not foresee any material financial liability devolving on the Company in this respect and accordingly, no provision has been made in these standalone financial statements.

46 Corporate social responsibility expenses ("CSR"):

As per Section 135 of the Companies Act, 2013, a CSR committee has been constituted by the Company. The funds are utilised on the activities which are specified in Schedule VII of the Act.

The Company has created a registered trust for purpose of CSR activities as approved by the CSR committee. The utilisation is done by way of contribution to this trust.

(a) Gross amount as per the limits of Section 135 of the Companies Act, 2013, required to be spent by the Company: ? 46.64 millions (31 March 2025: ? 43.59 millions)

(b) Amount approved by the board to be spent during the year: ? 46.64 millions (31 March 2025: ?43.59 millions)

(c) Details of amount spent:

(d) The Company has made a contribution of ? 46.64 millions for the year ended 31 March 2026 (year ended 31 March 2025: ? 43.59 millions) to registered trusts which, inter alia, includes a related party as per Indian Accounting Standard (Ind AS) 24, Related Party Disclosures.

(e) The Company does not have any provisions for corporate social responsibility expenses in the current year.

(f) The Company does not wish to carry forward any excess amount spent during the year.

(g) The Company does not have any ongoing projects as at 31 March 2026 (no ongoing projects as at 31 March 2025).

B. Measurement of fair values

Valuation techniques and significant unobservable inputs

(a) The fair value of cash and cash equivalents, bank balances other than cash and cash equivalents, trade receivables, borrowings, gold metal loans, trade payables and other financial assets and liabilities represents their carrying amount largely due to the short-term nature of these instruments.

(b) Investments in equity instruments, other than in subsidiary companies are classified as FVOCI. The carrying cost of unquoted equity instrument has been considered as an appropriate estimate of fair value in the current period. There are no such significant unobservable inputs used for the valuation technique.

(c) In case of derivatives, the fair value is determined using quoted forward exchange rates at the reporting dates in the respective commodities and currencies. There are no such significant unobservable inputs used for the valuation technique.

D. Risk management

The Company's principal financial liabilities includes borrowings, gold metal loans, lease liabilities, trade payable and other financial liabilities. The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial assets include trade receivables, cash and cash equivalents,bank balances other than cash and cash equivalents and other financial assets are derived directly from its operations.

The Company's activities expose it to gold price volatility, credit risk, liquidity risk and market risk. The Company's primary risk management focus is to minimise potential adverse effects of market risk on its financial performance. The Company's exposure to credit risk is influenced mainly by the individual characteristic of each customer. The Company's risk management assessment and policies and processes are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management policies and processes are reviewed regularly to reflect changes in market conditions and the Company's activities.

(i) Gold price volatility

The Company manages gold price volatility by aligning purchase and sale prices and hedging inventory through unfixed gold metal loans and multi commodity exchange derivatives. This offsets inventory losses with derivative gains during price drops, and vice versa during price rise.

(ii) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of credit

facilities to meet obligations when due. The Company's finance team is responsible for liquidity, funding as well as settlement management. In addition, 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's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

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

Note: As at 31 March 2020, the maximum potential liability with financial guarantees (referred in note 45(ii) amounted to be 479.42 million (31 March 2025: ? NIL)

(iii) 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 income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

(a) Currency risk

The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to the United States of America Dollar ('USD') and British Pound Sterling ('Pound'). Foreign exchange risk arises from recognised assets and liabilities denominated in a currency that is not the Company's functional currency.

A reasonably possible strengthening /weakening of the Indian Rupee against US dollars as at the reporting period would have affected the measurement of financial instruments denominated in US dollars and affects profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases.

(b) Interest rate risk

I nterest 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 exposure to the risk of changes in market interest rates relates primarily to the Company's long term and short term borrowing with floating interest rates. The Company constantly monitors the credit markets and rebalances its financing strategies to achieve an optimal maturity profile and financing cost.

Fixed rate instruments that are carried at amortised cost are not subject to interest rate risk for the purpose of sensitivity analysis.

The sensitivity analysis above has been determined for borrowings assuming the amount of borrowings outstanding at the end of the reporting year was outstanding for the whole year.

(iv) 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, and arises principally from the Company's receivables from customers and loans given. Credit risk arises from cash held with banks and financial institutions, as well as credit exposure to customers, including outstanding accounts receivables. The maximum exposure to credit risk is equal to the carrying value of the financial assets. The objective of managing counterparty credit risk is to prevent losses in financial assets. The Company assesses the credit quality of the counterparties, taking into account their financial position, past experience and other factors.

In respect of trade and other receivables, the Company is not exposed to any significant credit risk exposure to any single counterparty or any group of counterparties having similar characteristics. Trade receivables consist of a large number of customers. The Company has very limited history of customer default, and considers the credit quality of trade receivables that are not past due or impaired to be good.

The credit risk for cash and cash equivalents, bank deposits, loans and financial instruments is considered negligible, since the counterparties are reputable organisations with high quality external credit ratings.

E. Hedging activity and derivatives

Fair value hedge of gold price risk in inventory

The Company is exposed to fluctuations in gold price (including fluctuations in foreign currency) arising on purchase/ sale of gold and inventory of gold lying with the Company. To manage the variability in cash flows, the Company enters into derivative financial instruments to manage the risk associated with gold price fluctuations relating to the highly probable forecasted transactions. Such derivative financial instruments are primarily in the nature of future commodity contracts. The risk management strategy against gold price fluctuation also includes procuring gold on loan basis, with a flexibility to fix price of gold at anytime during the tenor of the loan.

The Company designates certain derivatives as hedging instruments in respect of commodity price risk in fair value hedges. As the value of the derivative instrument generally changes in response to the value of the hedged item, the economic relationship is established.

Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and the hedging instrument. The Company enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and so a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Company uses the hypothetical derivative method to assess effectiveness. The Company assesses the effectiveness of its designated hedges by using the same hedge ratio as that resulting from the quantities of the hedged item and the hedging instrument that the Company actually uses.

Explanation for variation:

(i) The aforementioned variation is primarily owing to increase in profits of the Company.

Note:

1. Wherever the change in ratios is not more than 25%, requirement to furnish explanations is not applicable per stipulation mentioned in Schedule III to the Act.

2. The Company has investments only in the equity shares of subsidiaries and there are no dividends or other returns from the subsidiaries for the current year and previous years hence disclosure of Return on investments ratio is not applicable to the Company.

51 Capital management

The Company's policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain confidence of investors, creditors and to sustain future development and growth of its business. In order to maintain optimal capital structure, the Company monitors the return on equity and return on capital employed, as well as the level of dividends to equity shareholders. The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to all its shareholders. The Company is not subject to externally imposed capital requirements. For the purpose of the Company's capital management, capital includes issued equity share capital, instruments entirely equity in nature and all other equity reserves attributable to the equity holders and debt includes borrowings, gold metal loans and lease liabilities.

52 The Company has 164.71 kg of gold as at 31 March 2026 (Nil as at 31 March 2025), in its custody, which belongs to the 'Karigars' (job workers) for ongoing business purposes and is maintained/ recorded separately. Such inventory is not owned by the Company, and therefore, is not recorded in the books of accounts. The management obtains confirmation from the respective 'Karigars' at each period-end for the same.

53 The Company operates the DigiGold and DigiSilver platforms, enabling customers to transact in digital gold and silver at prevailing market prices. Customer holdings are backed by equivalent physical bullion, procured from authorised suppliers and stored in secured, insured vaults under the custody of Sequel Logistics Private Limited (16.79 kgs of gold and 100.41 kgs of silver as at 31 March 2026) and (10.79 kgs of gold and 37.03 kgs of silver as on 31 March 2025).

54 The Company has filed all the required quarterly return statements of current assets against which borrowing have been availed from the banks as per the covenants of the sanction letters, which are in agreement with the books of account for the year ended 31 March 2026 and March 2025, except for the following reconciliation for the current and previous year is presented below:

55 Audit trail:

The Ministry of Corporate Affairs (MCA) has prescribed a requirement for companies under the provision to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules, 2021 requiring companies, which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company uses accounting software operated by a third-party software service provider for maintaing its books of account. The accounting software has a feature of recording audit trial (edit log) facility which was operated throughout the year of all relevant transactions recorded at the application level. Further, the audit trail has been preserved by the Company as per the statutory requirements for record retention at the application level.

56 Other statutory information

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

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

(iii) The Company has not traded or invested in crypto-currency or virtual currency during the financial year.

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

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

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

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

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

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

(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 provisions of the Income-tax Act, 1961).

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

(viii) The Company has not entered into any scheme of arrangement in terms of Section 230 to 236 of the Companies Act, 2013 which has an accounting impact on the current or previous financial year.

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

(x) The Company does not have any balances with companies struck off under section 248 of Companies Act, 2013.

(xi) The Company has not granted any loan or advance in the nature of loan to promoters, directors, KMPs, or other related parties either severally or jointly with any other person, that is repayable in demand or without specifying any terms or period of repayment.

57 Figures for the previous period have been regrouped/ reclassified wherever necessary to conform to current year's classification. The impact of such reclassification/ regrouping is not material to these financial statements.

This is the notes to the standalone financial statements including material accounting policy information and other explanatory information referred to in our report of even date.