Brief description of the valuation technique and inputs used to value investment property:

The Company's investment property consists of a commercial property situated in Kolkata. The fair values as aforesaid are based on a valuation performed by a registered valuer as defined under Rule 2 of The Companies (Registered valuer and valuation) Rules, 2017.The fair value has been derived using the market comparable approach based on recent market prices without any significant adjustments being made to the market observable data.

There is a restriction on the realisability of the investment property regarding the transfer of title as it is taken on lease. There are no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements.

6.1 Indmet Mining Pte Ltd ("Indmet”), a wholly owned subsidiary incorporated in Singapore, held an investment in its Indonesian subsidiary, PT Sumber Rahayu Indah ("PT Sumber''), which possessed a coal mining concession critical to IMFA's operations. However, due to unresolved overlapping boundary issues, the concession could not be developed, leading to liquidation of PT Sumber in the previous year.

Subsequently, an application was submitted to the Accounting and Corporate Regulatory Authority (ACRA) of Singapore to strike off Indmet. Further, on 20 February 2025, vide ACRA's letter, Indmet has now been officially removed from the Register of ACRA and the Company stands dissolved on the same date and the said dissolution has been duly accounted for in the books of accounts.

6.2 Investment in equity shares of Ferro Chrome Producers Association amounts to ? 25,000 (31 March 2024: ? 25,000) and therefore has been rounded off to nil.

6.3 Investment in Ortel Communications Limited has been fully written off during the year, which was fully impaired in earlier years.

(iii) Aggregate number of bonus share issued, shares issued for consideration other than cash and shares bought back for the period of five years immediately preceding the date as at which the Balance Sheet is prepared.

During the financial year 2021-22, 2,69,77,053 fully paid up bonus equity shares of ? 10 each was issued in the ratio of 1:1 (i.e. 1 bonus equity share for every 1 existing equity share of the Company) to the shareholders who held equity shares on the record date i.e. 10 January 2022. Post the issuance of bonus equity shares, the total paid up equity share capital of the Company is increased from ? 26.98 crore to ? 53.96 crore. Security premium of ? 26.78 crore and capital redemption reserve of ?0.20 crore have been utilised towards issuance of bonus shares.

(iv) Rights, preferences and restrictions in respect of each class of shares

The Company's authorised share capital consists of two classes of shares, referred to as equity shares and preference shares, having par value of ? 10/- and ? 100/- each respectively.

Each holder of equity share is entitled to one vote per share. The preferential shareholders have preferential right over equity shareholders in respect of repayment of capital and payment of dividend.

In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Nature and purpose of reserves Securities premium

Securities premium is credited to record the premium on issue of shares. The reserve can be utilised in accordance with the provisions of the Companies Act, 2013.

General reserve

General reserve represents appropriation of profits by the Company.

Capital reserve

Capital reserve has been created pursuant to the scheme of amalgamation of its wholly owned subsidiary and represents the difference between the net assets acquired and the investment in the said subsidiary which was cancelled pursuant to the afore mentioned scheme (also refer note 46).

Retained earnings

Retained earning are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholders.

Debt instruments through Other Comprehensive Income

This reserve represents the cumulative gains and losses arising from the revaluation of debt instruments classified as fair value through other comprehensive income (FVTOCI). It is presented net of amounts reclassified to profit or loss upon disposal of such instruments and impairment losses recognized on them.

(b) Other contingent liabilities :

(i) During the previous years, the Company received demand notices vide Section 21(5) of The Mines and Minerals (Development and Regulation) Act, 1957 amounting to ? 122.90 crore for alleged excess extraction of minerals over the quantity permitted under environment clearance in respect of four mines viz., Sukinda Chromite Mines, Chingudipal Chromite Mines, Bangur Chromite Mines and Nuasahi Chromite Mines pertaining to financial years 2000 to 2011 which had been raised by the respective Deputy Director of Mines and Mining Officers of the Government of Odisha. Aggrieved by the said notices, the Company had filed Revision Applications before the Mines Tribunal, New Delhi challenging the said demand notices, however the same was dismissed in the previous years. Subsequently, the Company has filed writ petitions before Hon'ble High Court of Orissa challenging the Final Order dated 14.09.2021 passed by the Revisionary Authority, Ministry of Mines, Government of India and the aforementioned demand notices. The Hon'ble Court vide its Order dated 24.05.2022 has stayed the impugned demand notices subject to deposit of ? 30 crore before the appropriate State Authorities and such Orders have been complied with by the Company.

(ii) The Company had revised its mining plan in respect of Mahagiri mine ( in financial year 2019-20) and Sukinda Chromite mine ( in 2016-17) by enhancing the annual production capacity to 6.00 lakh MT in the year 2019-20 and 3.71 Lakh MT respectively. Subsequent to the same, the District Sub-Register, Jajpur had raised demand notices amounting to ? 45.20 crore towards differential stamp duty and registration fee in respect of the aforementioned Mining Lease Deeds pursuant to Notification no. 312-SM-REM-3/2011-SM dated 13.01.2012 of the Commissioner -cum-secretary to the Government of Odisha, Department of Steel and Mines, as published in the Odisha Gazette on 18.01.2012. The Company has filed writ petitions before the Hon'ble High Court of Orissa challenging the legality and validity of such demand notices. The Hon'ble High Court vide its interim order dated 17.03.2021 has given direction to the authorities that no coercive action shall be taken against the Company for such demand notices till the next date of hearing and the matters are pending as on date.

Notes:

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

2 The amounts disclosed above represent the best possible estimates arrived at on the basis of available information and does not include penalty, if any.

3 The Company is contesting all of the above demands and the management believes that the ultimate outcome of these proceedings are not expected to have a material impact on the Company's standalone financial statements and hence no provision has been made in this regard.

40. Financial risk management

40.1 Financial risk factors

The Company's principal financial liabilities comprise of borrowings, lease liabilities, trade and other payables. The main purpose of these financial liabilities is to manage finances for the Company's operations. The Company's principal financial assets include advances, investment in equity instruments, investment in debt instrument and mutual funds, trade receivables and cash and bank balances that arise directly from its operations. The Company also enters into derivative transactions to hedge foreign currency and interest rate risks and not for speculative purposes. The Company is exposed to market risk, credit risk and liquidity risk and the Board of Directors ('Board') oversee the management of these financial risks through its Risk Management Committee. The Risk Management Policy of the Company formulated by the Risk Management Committee and approved by the Board, states the Company's approach to address uncertainties in its endeavour to achieve its stated and implicit objectives.

(b) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of an exposure 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 short-term debt obligations with floating interest rates. Any changes in the interest rates environment may impact future cost of borrowings. As the Company does not have exposure to any floating-interest bearing assets, or any significant long-term fixed-interest bearing assets, its interest income and related cash inflows are not affected by changes in market interest rates. Similarly, the Company also invests in debt mutual fund schemes of leading fund houses. Such investments are susceptible to market price risk that arise mainly from changes in interest rate which may impact the return and value of such investments. However, given the relatively short tenure of underlying portfolio of the debt mutual fund schemes in which the Company has invested, such price risk is not significant Moreover, the short-term borrowings of the Company do not have a significant fair value or cash flow interest rate risk due to their short tenure.

The Company is also exposed to investment risk arising from investments in alternate investment fund recognised at FVTPL. As at 31 March 2025, the carrying value of such instruments recognised at FVTPL amounts to ? 31.67 crores (previous year ? 20.66 crores). The details of such investments in alternate investment fund are given in Note 11(B)(ii).

2) Commodity rate risk

Material cost is the largest cost component for the Company, thus exposing it to the risk of price fluctuations based on the supply and demand conditions of those materials except captive chrome ore. Commodity price risk exposure is evaluated and managed through operating procedures and sourcing policies. The Company has put in place a mix of long-term and short-term mitigation plans. The long-term price view consisted of identifying single vendor dependency and finding alternate materials or vendors for the same. The Company also has a robust process of estimating the prices at a quarterly frequency, analysing deviations, if any, and taking short-term corrective measures in addition to altering the outlook for the long-term, if required. The Company also leverages its financial resources to modify the inventory levels as required keeping in mind the price outlook in the near term. Similarly, the Company modifies the contract period in negotiations with the vendors to either lock in prices or to keep them open based on the expected price movements.

ii) Credit risk

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, investment in mutual funds, derivative financial instruments, other balances with banks and other receivables.

Credit risk arising from investment in mutual funds, derivative financial instruments, term deposits and other balances with banks is limited and there is no collateral held against these because the counterparties are banks and recognised financial institutions with high credit ratings assigned by the credit rating agencies.

(a) Trade receivables

The Company extends credit to customers at a minimal level as part of its regular business operations, while closely monitoring outstanding receivables. Credit risk is largely mitigated through letters of credit and customer advances.

(c) Price risk

The Company invests its surplus funds in various mutual funds, short term debt funds, government securities and fixed deposits. In order to manage its price risk arising from investments, the Company diversifies its portfolio in accordance with the limits set by the risk management policies. The Company has exposure across mutual fund, bonds and alternate investment fund.

Due to the very short tenure of mutual fund, these do not pose any significant price risk.

1) Investment risk

The Company is exposed to investment risk arising from investments in mutual funds recognised at fair value through profit and loss (FVTPL). As at 31 March 2025, the carrying value of such instruments recognised at FVTPL amounts to ? 749.41 crores (previous year ? 305.84 crores). The details of such investments in mutual funds are given in Note 11 (B)(i).

The Company is also exposed to investment risk arising from investments in bonds recognised at fair value through other comprehensive income (FVTOCI). As at 31 March 2025, the carrying value of such instruments recognised at FVTOCI amounts to ? 115.56 crores (previous year ? 35.25 crores). These being debt instruments, the exposure to risk of changes in market rates is minimal. The details of such investments in bonds are given in Note 11(A)(i)and(ii).

iii) 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 maintain a balance between continuity of funding and flexibility through the use of bank overdrafts, letters of credit and working capital limits. The Company ensures it has sufficient cash to meet operational needs while maintaining sufficient margin on its undrawn fund based borrowing facilities at all times.

40.2 Capital management

For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company's capital management is to safeguard continuity, maintain healthy capital ratios in order to support its business 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. The funding requirement is met through equity, internal accruals, long term borrowings and short term borrowings.

In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. The Company manages its capital requirement by overseeing the debt-equity ratio.

41 (b). Fair valuation techniques

The Company maintains policies and procedures to value financial assets and financial liabilities using the best and most relevant data available. The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following methods and assumptions were used to estimate certain fair values.

i) The fair values of investment in quoted equity instrument is based on its quoted market price at the reporting date. The fair values of investment in unquoted equity instrument approximates its carrying amount which is the most appropriate estimate of fair value in the absence of recent information to measure fair value.

ii) The fair values of the mutual funds are based on their published Net Asset Values at the reporting date.

iii) The fair value of cash and deposits, trade receivables, trade payables and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

iv) The fair values of derivatives are based on marked to market valuation statements received from banks with whom the Company has entered into the relevant contracts.

Fair value hierarchy

The following table provides the fair value measurement hierarchy of Company's asset and liabilities, grouped into Level 1 to Level 3 as described below:

i) Quoted prices / published NAV (unadjusted) in active markets for identical assets or liabilities (level 1). It includes fair value of financial instruments traded in active markets and are based on quoted market prices at the balance sheet date and financial instruments like mutual funds for which net assets value (NAV) is published by mutual fund operators at the balance sheet date.

ii) Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). It includes fair value of the financial instruments that are not traded in an active market (for example, over-the-counter derivatives) and are determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on the Company specific estimates. If all significant inputs required to fair value an instrument are observable, then the instrument is included in level 2.

iii) Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

During the year ended 31 March 2025 and 31 March 2024, there were no transfers between level 1 and level 2 fair value measurements and no transfer into and out of level 3 fair value measurements. The carrying amount of financial assets and financial liabilities are measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be significantly different from the values that would eventually be received or settled except for investment in subsidiary and associate.

The Company provides provident fund benefits for eligible employees as per applicable regulations wherein both employees and the Company make monthly contributions at a specified percentage of the eligible employee's salary. Contributions under such schemes are made to state managed funds. The Company has no further payment obligations once the contributions have been paid. The contributions are accounted for as defined contribution plans and the contributions are recognised as employee benefit expense when they are due.

(b) Defined benefit plan:

The Company provides for gratuity for employees as per the Payment of Gratuity Act, 1972. The amount of gratuity payable on retirement/termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of completed years of service.

The Employees Gratuity Fund Scheme, which is a defined benefit plan, is managed by a trust maintained with Insurance Companies other than contractual employees.

The present value of the obligation is determined based on actuarial valuation using Projected Units Credit Method, which recognises each period of service as giving rise to additional units of employees benefit entitlement and measures each unit separately to buildup the final obligation.

The Company provides for gratuity for employees from the date of joining.

The following table sets out the details of amount recognised in the financial statements in respect of employee benefit schemes:

These assumptions were developed by the management with the assistance of independent actuary. Discount rate is determined close to each year end by reference to government bonds of relevant economic markets and that have terms to maturity approximating to the terms of the related obligation. Other assumptions are based on management's historical experience. The estimate of salary growth rate considered in actuarial valuation take into account the inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

Note : In the absence of detailed information regarding plan assets which is funded with insurance companies, the composition of each major category of plan assets, the percentage and amount for each category of the fair value of plan assets has not been disclosed.

(vii) Risk exposure

These plans are exposed to the actuarial risks such as investment risk, interest rate risk, longevity risk and salary risk.

Investment risk : The present value of the defined benefit plan liability (denominated in Indian Rupee) is calculated using a discount rate which is determined by reference to market yields on government bonds at the end of the reporting period. For other defined benefit plans, the discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds when there is a deep market for such bonds; if the return on plan asset is below this rate, it will create a plan deficit.

Interest risk : A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan assets.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

The above sensitivity analysis is based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (projected unit credit method) has been applied as when calculating the defined benefit obligation recognised within the Balance Sheet. The methods and type of assumptions used in preparing the sensitivity analysis did not change compared to prior year.

Outstanding balances receivable at the year end are unsecured and settlement occurs in cash.

Outstanding balance payable in respect of assets taken by the Company under finance lease is secured. The terms of payment carry an interest rate of 9% p.a.

All the related party transactions are made on terms equivalent to those that prevail in an arm's length transactions.

The remuneration to KMP and close family members of KMP does not include the provision made for the gratuity and compensated absences as the same is determined on an actuarial basis for the company as a whole.

45. Other notes

(i) Utkal Coal Limited ('UCL), the erstwhile wholly owned subsidiary of the Company and a special purpose vehicle ('SPV') was earlier allotted the Utkal 'C' coal block. However, vide an Order of the Hon'ble Supreme Court the aforementioned allotment was cancelled and subsequently, re-allotted to a successful Bidder. In 2022, UCL had received a compensation of ? 20.69 crore towards reimbursement of statutory expenses from the Ministry of Coal. Further, the Nominated Authority, Ministry of Coal, Government of India vide its Provisional Compensation Order dated 22 September 2023, had initially determined the valuation of compensation towards Land (Leasehold and freehold land) at ? 416.71 crore payable to UCL which was subsequently, vide the Final Compensation Order dated 5 December 2023, revised to ? 352.90 crore.

During the financial years 2023-24 and 2024-25, UCL received ? 352.90 crore of compensation from the Nominated Authority as per the aforementioned final compensation order.

However, the Successful Bidder challenged the Final Compensation Order before the Hon'ble Coal Tribunal, Talcher, along with a stay application. On which, the Tribunal declined to grant a stay. The matter is currently pending adjudication.

On 16 January 2024, UCL had filed application before the Additional District and Sessions Judge-Cum-Coal Tribunal CBA (A and D) Act, 1957, Talcher, challenging the Final Compensation Order dated 5 December 2023 passed by the Nominated Authority, only to the extent it disallowed the compensation amount payable to UCL on account of (i) lapsed period of leasehold land; (ii) registration and stamp duty and (iii) payment of administrative charges and annual license fee in respect of Permissive Possession land; aggregating to ? 63.81 crore including interest.

Subsequently, the Nominated Authority, Ministry of Coal, Government of India vide its Provisional Compensation Order dated 15 October 2024 has determined the valuation of compensation towards mine infrastructure pertaining to Utkal 'C' Coal Mines at ? 8.63 crore payable to UCL as against claim of ? 21.31 crore and directed the Prior Allottee and the Successful Bidder to negotiate for payment towards building(s) constructed over the Rehabilitation and Resettlement land, by the Successful Bidder. Further, the amount of ? 8.63 crore has been received by UCL during the year.

The compensation amount received by UCL from time to time has been duly transferred to the Company against repayment of principal and payment of interest on the amount of loan taken by UCL from the Company in earlier years.

(ii) Disputes between the Company and Grid Corporation of Orissa Ltd. ("GRIDCO") relating to the methodology for billing of power drawn during period of grid disturbance etc. were settled in favour of the Company vide a unanimous award of an Arbitral Tribunal dated 23 March 2008, by virtue of which GRIDCO was directed to pay ? 57.07 lakh along with interest and ? 30 lakh towards costs. Subsequently, GRIDCO filed a petition before the District Judge, Bhubaneswar objecting to the award and obtained an interim stay on the operation of the said award. The Company filed it's objection thereto on 19 February 2009 and the Court of the District Judge, Bhubaneswar pronounced the judgement dated 8 January 2018 in favour of the Company dismissing the petition filed by GRIDCO. Subsequently, GRIDCO filed an appeal before Hon'ble High Court of Orissa challenging the judgment of the learned District Judge, which is pending for final adjudication.

(iii) The Company had filed a petition before the Hon'ble Orissa High Court under Section 392 of the Companies Act, 1956 to modify the Scheme of Arrangement and Amalgamation and to confirm the reduction of share capital by cancellation of 3,49,466 equity shares of ? 10/- each held by erstwhile 'ICCL Shareholders Trust'. The petition was approved by the Hon'ble High Court vide its order dated 16 March 2011 and registered with the Registrar of Companies (ROC), Orissa on 1 April, 2011. Accordingly, the paid up

equity share capital reduced from ? 26,32,65,190/- divided into 2,63,26,519 equity shares of ? 10/- each to ? 25,97,70,530/- divided into 2,59,77,053 equity shares of ? 10/- each. Subsequently, several shareholder challenged the reduction of share capital before a Division Bench of the Hon'ble High Court which, vide its judgment dated 19 July 2011, directed the Company, inter alia, to restore the aforesaid shares to the Trust and allot it to interested shareholder The Company then moved the Hon'ble Supreme Court which issued notice in the matter and granted interim stay on the subscription or cancellation of the said 3,49,466 shares.

(iv) The Company has taken necessary steps for surrender of Nuasahi Chromite Mines. The Surrender Order is pending from Government of Odisha.

(v) The judgement of the Hon'ble Supreme Court upholding the right of States to impose levy on mineral bearing land is significant and has financial implications for the mining sector at large as well as downstream industries. In this context, the Orissa Rural Infrastructure and Socio-Economic Development Act, 2004 (ORISED) enacted by the State Legislature was struck down by Hon'ble Orissa High Court on 5 December 2005; subsequently, an appeal was filed by the State Government and the matter is sub-judice before the Hon'ble Supreme Court. There are no pending demands against the Company on this account as on date and further clarity is awaited in order to determine financial liability, if any.

(vi) During the year, the Company has signed a Power Purchase Agreement with JSW Green Energy One Ltd and JSW Green Energy Seven Ltd. to acquire hybrid renewable power of 70 MW contracted Demand ( Solar capacity of 50MW AC and Wind capacity of 100 MW) and has entered into another binding term sheet with Ampin Energy Utility One Private Limited to acquire hybrid renewable power of 40 MW contracted Demand (Solar capacity of 58 MW AC and Wind capacity of 58 MW).

46. On 28 February 2025, the Regional Director, Eastern Region, approved the scheme of amalgamation for the merger of a wholly owned subsidiary , Utkal Coal Limited ("UCL¹) into the Company with an appointed date of 28 March 2025. In accordance with appendix C of IND AS 103, "Business combination of entities under common control" , the said merger has been accounted for using the pooling of interest method and the financial information in respect of prior period have been restated as if the business combination had occurred from the beginning of the preceding period in the financial results i.e. 1 April 2023. The difference between the net assets acquired amounting to ?115.52 crore and the investment amounting to ?111.42 crore in UCL (now stands cancelled) has been recognised as capital reserve (amounting to ? 4.10 crore).

52. Leases

The Company as a lessee has obtained certain assets such as immovable properties on various leasing arrangements for the purposes of setting up of factories. 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. 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.

Rental expenses recorded as short-term leases under Ind AS 116, during the year ended 31 March 2025 is ? 16.82 crore. (Previous year : ?13.35 crore)

The incremental borrowing rate of 8.75% p.a. to 10.15% p.a. has been applied to lease liabilities recognised in the standalone Balance Sheet.

Total cash outflow for leases of ? 21.90 crore and ? 18.64 crore for the year ended March, 31 2025 and 2024 respectively including cash outflow for short term and low value lease.

Rental Income on the assets given on operating lease is ? 0.65 crore ( Previous year: ? 1.75 crore).

There are no leases which are yet to commence as on 31 March 2025.

53. The Board of Directors of the Company, in its meetings held on 7 November 2024 and 29 January 2025, declared interim dividends of ?10/- and ?5/- per equity share respectively (face value of ?10 each) for the financial year 2024-25.

Additionally, in its meeting held on 21 May 2025, the Board of Directors have recommended a final dividend of ?5/- per equity share (face value of ?10 each) for the financial year 2024-25 subject to necessary approval by the shareholder in the ensuring Annual General Meeting of the Company.

For the financial year 2023-24, the Board of Directors had declared an interim dividend of ?7.50/- per share and a special dividend of ?15/- per share (face value of ?10 each) in its meetings held on 2 November 2023 and 29 March 2024 respectively.

54. Other statutory information:

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

(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 complied with the requirement with respect to number of layers as 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 in any other person(s) or entity(is) including foreign entities(Intermediaries) with the understanding that the intermediary shall:

(a) Directly or indirectly lend or invest in other person(s) or entity(ies) 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 has not received any funds from any person(s) or entity(ies), including foreign entities(Funding Party) with the understanding(whether recorded in writing or otherwise) the Company shall:

(a) Directly or indirectly lend or invest in other person(s) or entity(ies) identified in any manner whatsoever by or on behalf of the Funding Party Company (Ultimate Beneficiaries) or

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

(vii) 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, survey or any other relevant provisions of the Income-tax Act 1961).

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

(viv) The Company has filed all the required quarterly return statements of current assets with the bank as per covenants of the Sanction of Workings Capital Limit which are in agreement with the books of accounts.

55. Reclassification/restatement of previously reported financial information

During the current year ended 31 March 2025, the Company has reclassified/ regrouped the comparative financial information pertaining to the financial year ended 31 March 2024. Considering the nature and amount of these reclassification/regrouping. The same is disclosed here below in accordance with the requirement of the Ind AS-8,' Accounting Policies, Change in Accounting Estimates and Errors':"

56. Pursuant to the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, as amended by the Companies (Accounts) Amendment Rules, 2021, the Company confirms that for the financial year ended March 31,2025, it has complied with the requirement to use accounting software that includes an audit trail feature.

The accounting software used by the Company for maintaining its books of account:

(i) Records an audit trail of each and every transaction entered during the financial year.

(ii) Maintains an edit log capturing every change made to the books of account, along with the date and time of such changes.

(iii) Ensures that the audit trail feature is enabled at all times and cannot be disabled or tampered with.

(iv) Preserves the audit trail in accordance with applicable statutory record retention requirements.

This compliance is in line with the MCA's objective to enhance transparency, accountability, and traceability in financial reporting.