2.25 'Provisions and contingencies

Provisions are recognised when the
Company has a present obligation (legal
or constructive) as a result of a past event,
it is probable that an outflow of resources
embodying economic benefits will be
required to settle the obligation and a reliable
estimate can be made of the amount of the
obligation. When the Company expects
some or all of a provision to be reimbursed,
for example, under an insurance contract, the
reimbursement is recognised as a separate
asset, but only when the reimbursement is
virtually certain. The expense relating to a
provision is presented in the statement of
profit and loss, net of any reimbursement.

If the effect of the time value of money is
material, provisions are determined by
discounting the expected future cash flows
to net present value 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. Unwinding of the

discount is recognized in statement of profit
and loss as a finance cost. Provisions are
reviewed at each reporting date and are
adjusted to reflect the current best estimate.

A contingent liability is a possible obligation
that arises from past events whose existence
will be confirmed by the occurrence or
non-occurrence of one or more uncertain
future events beyond the control of the
Company or a present obligation that is not
recognised because it is not probable that
an outflow of resources will be required to
settle the obligation. A contingent liability
also arises in extremely rare cases where
there is a liability that cannot be recognised
because it cannot be measured reliably. The
Company does not recognize a contingent
liability but discloses its existence in the
financial statements.

In the normal course of business, contingent
liabilities may arise from litigation and
other claims against the Company. There
are certain obligations which management
has concluded, based on all available facts
and circumstances, are not probable of
payment or are very difficult to quantify
reliably, and such obligations are treated
as Contingent liabilities and disclosed in
the notes but are not reflected as liabilities
in the financial statements. Although there
can be no assurance regarding the final
outcome of the legal proceedings in which
the Company involved, it is not expected
that such contingencies will have a material
effect on its financial position or profitability.

Contingent assets are not recognised but
disclosed in the financial statements when
an inflow of economic benefits is probable.

!.26 Insurance claims

Insurance claims are accounted for on the
basis of claims admitted / expected to be
admitted and to the extent that the amount
recoverable can be measured reliably and it
is reasonable to expect ultimate collection.

2.27 Financial instruments

'Financial assets and financial liabilities are
recognised when a Company becomes a
party to the contractual provisions of the
instruments.

Financial assets and financial liabilities are
initially measured at fair value. Transaction
costs that are directly attributable to the
acquisition or issue of financial assets and
financial liabilities (other than financial
assets and financial liabilities at fair value
through profit or loss) are added to or
deducted from the fair value of the financial
assets or financial liabilities, as appropriate,
on initial recognition. Transaction costs
directly attributable to the acquisition of
financial assets or financial liabilities at fair
value through statement of profit and loss
are recognised immediately in statement of
profit and loss.

Financial assets

All regular way purchases or sales of financial
assets are recognised and derecognised on
a trade date basis. Regular way purchases
or sales are purchases or sales of financial
assets that require delivery of assets within
the time frame established by regulation or
convention in the marketplace.

All recognised financial assets are
subsequently measured in their entirety
at either amortised cost or fair value,
depending on the classification of the
financial assets.

Classification of financial assets

Debt instruments that meet the following
conditions are subsequently measured at
amortised cost less impairment loss (except
for debt investments that are designated as
at fair value through profit or loss on initial
recognition):

• the asset is held within a business model
whose objective is to hold assets in order
to collect contractual cash flows; and

• the contractual terms of the instrument
give rise on specified dates to cash flows
that are solely payments of principal
and interest on the principal amount
outstanding.

All other financial assets are subsequently
measured at fair value.

Amortised cost and effective interest
method

The effective interest method is a method
of calculating the amortised cost of a debt
instrument and of allocating interest income
over the relevant period. The effective
interest rate is the rate that exactly discounts
estimated future cash receipts (including all
fees and points paid or received that form
an integral part of the effective interest rate,
transaction costs and other premiums or
discounts) through the expected life of the
debt instrument, or, where appropriate, a
shorter period, to the net carrying amount
on initial recognition.

Income is recognised on an effective interest
basis for debt instruments other than those
financial assets classified as at FVTPL.
Interest income is recognised in profit or
loss and is included in the Statement of
Profit and Loss.

Financial assets at fair value through profit
or loss (FVTPL)

A financial asset may be designated as
at FVTPL upon initial recognition if such
designation eliminates or significantly
reduces a measurement or recognition
inconsistency that would arise from
measuring assets or liabilities or recognising
the gains and losses on them on different
bases. The Company has not designated
any debt instrument as at FVTPL.

Financial assets at FVTPL are measured
at fair value at the end of each reporting
period, with any gains or losses arising
on re-measurement recognised in
profit or loss. The net gain or loss

recognised in profit or loss is included
in the 'other gains and losses' line item.

Changes in the carrying amount of FVTOCI
monetary financial assets relating to changes
in foreign currency rates are recognised in
profit or loss. Other changes in the carrying
amount of FVTOCI financial assets are
recognised in other comprehensive income
and accumulated under the heading of
investments revaluation reserve. When the
investment is disposed of or is determined
to be impaired, the cumulative gain or loss
previously accumulated in the investments
revaluation reserve is reclassified to profit or
loss.

Changes in the carrying amount of FVTOCI
monetary financial assets relating to changes
in foreign currency rates are recognised in
profit or loss. Other changes in the carrying
amount of FVTOCI financial assets are
recognised in other comprehensive income
and accumulated under the heading of
investments revaluation reserve. When the
investment is disposed of or is determined
to be impaired, the cumulative gain or loss
previously accumulated in the investments
revaluation reserve is reclassified to profit or
loss.

Changes in the carrying amount of
investments in equity instruments at FVTOCI
relating to changes in foreign currency rates
are recognised in other comprehensive
income.

Impairment of financial assets

The Company measures the loss allowance
for a financial instrument at an amount
equal to the lifetime expected credit losses
if the credit risk on that financial instrument
has increased significantly since initial
recognition. If the credit risk on a financial
instrument has not increased significantly
since initial recognition, the Company
measures the loss allowance for that financial
instrument at an amount equal to 12-month
expected credit losses.

However, for trade receivables or contract
assets that result in relation to revenue from
contracts with customers, the Company
measures the loss allowance at an amount
equal to lifetime expected credit losses.

When making the assessment of whether
there has been a significant increase in
credit risk since initial recognition, the
Company uses the change in the risk of a
default occurring over the expected life
of the financial instrument instead of the
change in the amount of expected credit
losses. To make that assessment, the
Company compares the risk of a default
occurring on the financial instrument as at
the reporting date with the risk of a default
occurring on the financial instrument as at
the date of initial recognition and considers
reasonable and supportable information,
that is available without undue cost or effort,
that is indicative of significant increases in
credit risk since initial recognition.

Derecognition of financial assets

The Company derecognises a financial asset
when the contractual rights to the cash flows
from the asset expire, or when it transfers
the financial asset and substantially all the
risks and rewards of ownership of the asset
to another party. If the Company neither
transfers nor retains substantially all the risks
and rewards of ownership and continues to
control the transferred asset, the Company
recognises its retained interest in the asset
and an associated liability for amounts it
may have to pay. If the Company retains
substantially all the risks and rewards of
ownership of a transferred financial asset,
the Company continues to recognise the
financial asset.

On derecognition of a financial asset in
its entirety, the difference between the
asset's carrying amount and the sum of the
consideration received and receivable and
the cumulative gain or loss that had been
recognised in other comprehensive income
and accumulated in equity is recognised in
profit or loss if such gain or loss would have

otherwise been recognized in profit or loss
on disposal of that financial asset.

On derecognition of a financial asset other
than in its entirety (e.g. when the Company
retains an option to repurchase part of a
transferred asset), the Company allocates
the previous carrying amount of the financial
asset between the part it continues to
recognise under continuing involvement,
and the part it no longer recognises on the
basis of the relative fair values of those parts
on the date of the transfer. The difference
between the carrying amount allocated to
the part that is no longer recognised and the
sum of the consideration received for the part
no longer recognised and any cumulative
gain or loss allocated to it that had been
recognised in other comprehensive income
is recognised in profit or loss if such gain or
loss would have otherwise been recognized
in profit or loss on disposal of that financial
asset. A cumulative gain or loss that had
been recognised in other comprehensive
income is allocated between the part that
continues to be recognised and the part
that is no longer recognised on the basis of
the relative fair values of those parts.

Financial liabilities and equity instruments

Classification as debt or equity

Debt and equity instruments issued by a
Company are classified as either financial
liabilities or as equity in accordance with the
substance of the contractual arrangements
and the definitions of a financial liability and
an equity instrument.

Equity instruments

An equity instrument is any contract that
evidences a residual interest in the assets of
an entity after deducting all of its liabilities.
Equity instruments issued by a Company
entity are recognised at the proceeds
received, net of direct issue costs.

Repurchase of the Company's own equity
instruments is recognised and deducted

directly in equity. No gain or loss is
recognised in profit or loss on the purchase,
sale, issue or cancellation of the Company's
own equity instruments.

Financial liabilities

All financial liabilities are subsequently
measured at amortised cost using the
effective interest method or at FVTPL.
However, financial liabilities that arise
when a transfer of a financial asset does
not qualify for derecognition or when the
continuing involvement approach applies,
financial guarantee contracts issued by the
Company, and commitments issued by the
Company to provide a loan at below-market
interest rate are measured in accordance
with the specific accounting policies set out
below.

Financial liabilities are classified as at FVTPL
when the financial liability is either held for
trading or it is designated as at FVTPL.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL
when the financial liability is either held for
trading or it is designated as at FVTPL.

A financial liability is classified as held for
trading if:

• it has been incurred principally for the
purpose of repurchasing it in the near
term; or

• on initial recognition it is part of a portfolio
of identified financial instruments that the
Company manages together and has a
recent actual pattern of short-term profit¬
taking; or

• i t is a derivative that is not designated
and effective as a hedging instrument.

A financial liability other than a financial
liability held for trading may be designated
as at FVTPL upon initial recognition if:

• such designation eliminates or
significantly reduces a measurement or
recognition inconsistency that would
otherwise arise; or

• the financial liability forms part of a
Company of financial assets or financial
liabilities or both, which is managed and
its performance is evaluated on a fair value
basis, in accordance with the Company's
documented risk management or
investment strategy, and information
about the Company is provided internally
on that basis; or

• it forms part of a contract containing
one or more embedded derivatives, and
Ind AS 109 permits the entire combined
contract to be designated as at FVTPL in
accordance with Ind AS 109.

Financial liabilities at FVTPL are stated at
fair value, with any gains or losses arising
on remeasurement recognised in statement
of profit and loss. The net gain or loss
recognised in statement of profit and loss
incorporates any interest paid on the
financial liability and is included in the 'other
gains and losses' line item.

However, for non-held-for-trading financial
liabilities that are designated as at FVTPL,
the amount of change in the fair value of
the financial liability that is attributable to
changes in the credit risk of that liability
is recognised in other comprehensive
income, unless the recognition of the
effects of changes in the liability's credit
risk in other comprehensive income would
create or enlarge an accounting mismatch in
statement of profit and loss. The remaining
amount of change in the fair value of
liability is recognised in statement of profit
and loss. Changes in fair value attributable
to a financial liability's credit risk that
are recognised in other comprehensive
income are not subsequently reclassified to
statement of profit and loss.

Gains or losses on financial guarantee
contracts and loan commitments issued by
the Company that are designated by the
Company as at fair value through profit or
loss are recognised in statement of profit
and loss.

Financial liabilities subsequently measured
at amortised cost

Financial liabilities that are not held for
trading and are not designated as at FVTPL
are measured at amortised cost at the end
of subsequent accounting periods. The
carrying amounts of financial liabilities that
are subsequently measured at amortised
cost are determined based on the effective
interest method. Interest expense that is
not capitalised as part of costs of an asset is
included in the 'finance costs' line item.

The effective interest method is a method of
calculating the amortised cost of a financial
liability and of allocating interest expense
over the relevant period. The effective
interest rate is the rate that exactly discounts
estimated future cash payments (including
all fees and points paid or received that
form an integral part of the effective interest
rate, transaction costs and other premiums
or discounts) through the expected life of
the financial liability, or (where appropriate)
a shorter period, to the net carrying amount
on initial recognition.

Foreign exchange gains and losses

For financial liabilities that are denominated
in a foreign currency and are measured at
amortised cost at the end of each reporting
period, the foreign exchange gains and
losses are determined based on the
amortised cost of the instruments and are
recognised in the 'other gains and losses'
line item in the statement of profit and loss.

The fair value of financial liabilities
denominated in a foreign currency is
determined in that foreign currency and
translated at the spot rate at the end of
the reporting period. For financial liabilities
that are measured as at FVTPL, the foreign
exchange component forms part of the fair
value gains or losses and is recognised in
the statement of profit and loss.

Derecognition of financial liabilities

The Company derecognises financial
liabilities when, and only when, the
Company's obligations are discharged,
cancelled or they expire. The difference
between the carrying amount of the financial
liability derecognised and the consideration
paid and payable is recognised in statement
of profit and loss.

Derivative financial instruments

The Company uses derivative forward
contracts to hedge its foreign currency
risks. Such derivative financial instruments
are initially recognised at fair value on the
date on which derivative contract is entered
into and are subsequently re-measured
at fair value at the end of each reporting
period. Derivatives are carried as financial
assets when the fair value is positive and
as financial liabilities when the fair value is
negative. Any gains or losses arising from
changes in the fair value of derivatives are
taken directly to profit or loss.

2.28 Operating cycle

Based on the nature of the operations and
the time between the acquisition of assets
for processing and their realization in cash
or cash equivalents, the Company has
ascertained its operating cycle as twelve
months for the purpose of current & non¬
current classification of assets and liabilities.

2.29 Critical accounting judgements and key
sources of estimation uncertainty

The preparation of these financial
statements in conformity with Ind AS
requires management to make judgements,
estimates and assumptions that affect the
application of accounting policies and
the reported amounts of assets, liabilities,
income, expenses and disclosures of
contingent assets and liabilities at the
date of these financial statements and the
reported amounts of revenues and expenses

for the years presented. Actual results may
differ from these estimates under different
assumptions and conditions.

Estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the
period in which the estimate is revised and
future periods affected.

In particular, information about significant
areas of estimation uncertainty and critical
judgments in applying accounting policies
that have the most significant effect on
the amounts recognized in the financial
statements are included in the following
accounting policies and/or notes:

Critical estimates and judgements in
applying accounting policies

The following are the critical judgements,
apart from those estimations that the
management has made in the process of
applying the Company Accounting Policies
and that have most significant effect on
the amounts recognised in the financial
statements.

Provisions and contingencies

'The significant capital commitments in
relation to various capital projects are not
recognized in the balance sheet. In the
normal course of business, contingent
liabilities may arise from litigation and other
claims against the Company. Guarantees
are also provided in the normal course
of business. There are certain obligations
which management has concluded, based
on all available facts and circumstances, are
not probable of payment or are very difficult
to quantify reliably, and such obligations are
treated as contingent liabilities and disclosed
in the notes but are not reflected as liabilities
in the financial statements. Although there
can be no assurance regarding the final
outcome of the legal proceedings in which
the Company involved, it is not expected
that such contingencies will have a material
effect on its financial position or profitability.

Fair value measurement of financial
instruments

'Some of the Company's assets and
liabilities are measured at fair value for
financial reporting purposes. The fair values
of financial assets and financial liabilities
recorded in the balance sheet in respect
of which quoted price in active markets
are available are measured using valuation
techniques. The inputs to these models
are taken from observable markets where
possible, but where this is not feasible,
a degree of judgment is required in
establishing fair values. Judgments include
considerations of inputs such as liquidity
risk, credit risk and volatility. Changes in
assumptions about these factors could
affect the reported fair value of financial
instruments.

Impairment of assets

In assessing the property, plant and
equipment and intangible assets for
impairment, factors leading to significant
reduction in profits such as changes
in commodity prices, the Company's
business plans and changes in regulatory
environment are taken into consideration.
The carrying value of the assets of a cash
generating unit (CGU) is compared with the
recoverable amount of those assets, that is,
the higher of fair value less costs of disposal
and value in use. Recoverable value is
based on the management estimates of
commodity prices, market demand and
supply, economic and regulatory climates,
long-term plan, discount rates and other
factors. Any subsequent changes to cash
flow due to changes in the abovementioned
factors could impact the carrying value of
the assets.

Useful life of property, plant and equipment
and intangible assets

Property, plant and equipment and
intangible assets as disclosed above are
depreciated over their useful economic
lives. Management reviews the useful

economic lives at least once a year and any
changes could affect the depreciation rates
prospectively and hence the asset carrying
values. The Company also reviews its
property, plant and equipment, for possible
impairment if there are events or changes
in circumstances that indicate that carrying
values of the assets may not be recoverable.
In assessing the property, plant and
equipment for impairment, factors leading
to significant reduction in profits such as
changes in commodity prices, the Company's
business plans and changes in regulatory
environment are taken into consideration.

The carrying value of the assets of a cash
generating unit (CGU) is compared with the
recoverable amount of those assets, that is,
the higher of fair value less costs of disposal
and value in use. Recoverable value is
based on the management estimates of
commodity prices, market demand and
supply, economic and regulatory climates,
long-term plan, discount rates and other
factors. Any subsequent changes to cash
flow due to changes in the above mentioned
factors could impact the carrying value of
the assets.

Contingencies and commitments

In the normal course of business, contingent
liabilities may arise from litigation, taxation
and other claims against the Company. A tax
provision is recognised when the Company
has a present obligation as a result of a past
event, it is probable that the Company will
be required to settle that obligation.

Where it is management's assessment that
the outcome cannot be reliably quantified
or is uncertain the claims are disclosed as
contingent liabilities unless the likelihood
of an adverse outcome is remote. Such
liabilities are disclosed in the notes but are
not provided for in the financial statements.

When considering the classification of a legal
or tax cases as probable, possible or remote
there is judgement involved. This pertains
to the application of the legislation, which in

certain cases is based upon management's
interpretation of country specific tax.

2.30 Key sources of estimation uncertainty(a) Fair value measurements and valuation
processes

Some of the Company's assets and
liabilities are measured at fair value for
financial reporting purposes. The Board of
directors of the Company has designated
the Chief Financial Officer of the Company
to determines the appropriate valuation
techniques and inputs for fair value
measurements.

(b) Taxes

Uncertainties exist with respect to the
interpretation of complex tax regulations,
changes in tax laws, and the amount and
timing of future taxable income. Given the
wide range of business relationships and
the long-term nature and complexity of
existing contractual agreements, differences
arising between the actual results and the
assumptions made, or future changes to
such assumptions, could necessitate future
adjustments to tax income and expense
already recorded. The company establishes
provisions, based on reasonable estimates.
The amount of such provisions is based on
various factors, such as experience of previous
tax audits and differing interpretations of
tax regulations by the taxable entity and the
responsible tax authority. Such differences
of interpretation may arise on a wide variety
of issues depending on the conditions
prevailing in the respective domicile of the
companies.

(c) Impairment of Financial assets

The impairment provisions of financial
assets are based on assumptions about
risk of default and expected loss rates. the
company uses judgment in making these
assumptions and selecting the inputs to the
impairment calculation, based on company's
past history, existing market conditions as

well as forward looking estimates at the end
of each reporting period.

(d) Impairment of non-Financial assets

The company assesses at each reporting
date whether there is an indication that an
asset may be impaired. If any indication
exists, or when annual impairment testing
for an asset is required, the company
estimates the asset's recoverable amount.
An assets recoverable amount is the
higher of an asset's CGU'S fair value less
cost of disposal and its value in use. It is
determined for an individual asset, unless
the asset does not generate cash inflows
that are largely independent of those from
other assets or company's of assets. Where
the carrying amount of an asset or CGU
exceeds its recoverable amount, the asset is
considered impaired and is written down to
its recoverable amount.

In assessing value in use , the estimated
future cash flows are discounted to their
present value using a pre-tax discount rate
that reflects current market assessments
of the time value of money and the risks
specific to the asset. In determining fair
value less costs of disposal, recent market
transactions are taken into account. If no
such transactions can be identified, an
appropriate valuation model is used. These
calculations are corroborated by valuation
multiples, or other fair value indicators.

2.31 Standards issued but not effective

There are no standards that are issued but
not yet effective on March 31,2026.

Fair Value Hierarchy

The Company has no restrictions on the realisability of its investment property and no contractual obligation to
purchase, construct or develop or for repair & maintenance.

Description of Valuation Technique used:

The Company obtained independent valuations of its investment properties as at the year ended March 31,2026.
The fair value of the investment properties have been derived using the direct comparison method. The direct
comparison method involves a comparison of the investment properties to similar properties that have actually
been sold on arm-length basis or are offered for sale in the same region. This approach demonstrates what buyers
have historically been willing to pay (and sellers willing to accept) for similar properties in an open and competitive
market, and is particularly useful in estimating the value of the land and properties that are typically traded on
a unit basis. This approach leads to a reasonable estimation of the prevailing price. Given that the comparable
instances are located in close proximity to the investment properties; these instances have been assessed for
their locational comparative advantages and disadvantages while arriving at the indicative price assessment for
investment properties.

These valuations are based on valuations performed by an accredited independent valuer who is a specialist in
valuing these types of investment properties and is a registered valuer as defined under rule 2 of Companies
(Registered Valuers and Valuation) Rules, 2017. A valuation model in accordance with that recommended by the
international valuation standards committee has been applied."

Sensitivity analysis of the investment property fair value assumptions

Further the Company performs sensitivity analysis on the assumptions used by the valuer and ensures that the
valuation of investment property is appropriate.

The Company undisputedly possessed the title deeds for all properties held by the Company, presented under
'Land and Building' in the above schedule.

Notes:

a. It includes interest accrued of INR 4.39 lacs and INR 3.79 lacs as at March 31, 2026 and March 31, 2025
respectively.

b. Includes bank deposit under lien amounting to INR 1,839.79 lacs and INR 3,276.45 lacs (including interest)
marked with banks against working capital and overdraft facilities availed from various banks as at March
31, 2026 and March 31, 2025 respectively. It includes interest accrued of INR 50.19 lacs and INR 325.37
lacs as at March 31, 2026 and March 31, 2025 respectively.

c. Includes bank deposit under lien amounting to INR 8,105.65 lacs and INR 8,353.76 lacs (including interest)
marked with banks against working capital and overdraft facilities availed from various banks as at March
31, 2026 and March 31, 2025 respectively. It includes interest accrued of INR 515.29 lacs and INR 80.01
lacs as at March 31, 2026 and March 31, 2025 respectively.

d. Movement in allowance for doubtful deposits

v. Increase in authorised share capital

During the year ended March 31,2025, the company has in aggregate increased its authorised share capital
by INR 9,700.00 lacs consist of 9,70,00,000 equity shares of INR 10/- each. Out of this, 9,00,00,000 equity
shares has been increased vide shareholders' approval at Extraordinary General Meeting (EGM) held on
June 14, 2024 and 70,00,000 equity shares has been increased vide shareholders' approval at Extraordinary
General Meeting (EGM) held on March 29, 2025.

vi. During the year ended March 31,2026, the company in aggregate has issued and allotted 40,19,326 equity
shares of INR 10 each amounting to INR 4,823.19 lacs through private placement of 40,19,326 equity
shares of INR 10 each at a premium of INR 110 each vide shareholders approval at EGM held on July 28,
2025.

vii. During the year ended March 31, 2025, the company has in aggregate allotted 9,39,28,320 equity shares
of INR 10/- each as fully paid bonus shares. Out of this, 4,17,45,920 bonus shares has been allotted vide
shareholder's approval at Extraordinary General Meeting (EGM) held on May 24, 2024 and 5,21,82,400
bonus shares has been allotted vide shareholder's approval at Extraordinary General Meeting (EGM) held
on December 31, 2024.

viii. During the year ended March 31, 2025, the company has in aggregate issued and allotted 10,19,89,938
equity shares of INR 10 each out of which amounting to INR 7,577.45 lacs raised through private placement
of 72,91,969 equity shares and 7,69,149 shares of INR 10 each at a premium of INR 84 each vide shareholders
approval at EGM held on January 13, 2025 and March 29, 2025 respectively.

Nature and purpose of reserve:

Under the erstwhile Companies Act 1956, General Reserve was created through an annual transfer of net
income at a specified percentage in accordance with applicable regulations. The purpose of these transfers
was to ensure that if a dividend distribution in a given year is more than 10% of the paid-up capital of the
Company for that year, then the total dividend distribution is less than the total distributable results for that
year. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a specified
percentage of the net profit to General Reserve has been withdrawn. However, the amount previously transferred
to General Reserve can be utilised only in accordance with provisions of the Companies Act, 2013.

Notes:

a. The Company has obtained Term Loan aggregating to INR 18,763.00 lacs from Bajaj Finance Limited (INR
750.00 lacs), Oxyzo Financial Services Private Limited (INR 2,018.00 lacs), Tata Capital Financial Services
Limited (INR 2,500.00 lacs), Tata Capital Limited (INR 4,500.00 lacs), Axis Bank Limited (INR 1,735.00 lacs),
State Bank Of Mauritius (INR 3,000.00 lacs), IDFC Limited (INR 3,000.00 lacs) and HDFC Bank (INR 1,260.00
lacs) and carrying interest rate in the range of 8.75% to 12.50% against which INR 12,325.97 lacs and INR
10,516.18 lacs is outstanding as at March 31, 2026 and March 31, 2025 respectively. It includes interest
accrued of INR 50.64 lacs and INR Nil as at March 31, 2026 and March 31, 2025 respectively. These term
loans are secured by:-

For Bajaj Finance Limited

i. Exclusive charge on current assets of one of the subsidiary company i.e., Rahat Continental Private Limited
with minimum cover of 1.25x.

ii. Pledge on entire shareholding of Rahat Continental Private Limited acquired by the company.

iii. Personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma.

For Oxyzo Financial Services Private Limited

i. Cash collateral of INR 400.00 lacs in favour of Oxyzo Financial Services Private Limited.

ii. Co-financed Party's Mr. Yashpal Sharma and Mr. Tarun Sharma.

For Tata Capital Financial Services Limited

i. Exclusive lien on Mutual funds held by the company.

ii. Personal guarantee of Mr. Yashpal Sharma and Mr. Tarun Sharma.

For Tata Capital Limited (""TCL"")

i. Pledge 51% of their unlisted, fully unencumbered (i.e., free from any charges or restrictions) demat shares
in Odyssey Logistics Pvt. Ltd. as security for the loan with a minimum security cover of 2x for the entire loan
tenure.

ii. Extension of charge on mutual fund amounting of INR 1,250.00 lacs.

iii. Personal guarantee of Mr. Yashpal Sharma and Mr. Tarun Sharma.

i. First charge on entire movable fixed assets of the company both present and future.

ii. Negative lien on property located at A-390 B, Village Mahipalpur, New Delhi-110037 in the name of the
promoters.

iii. Collateral in the form of FDR under lien with Axis Bank to the extent of 25% of the limit.

iv. Personal guarantee of promoters namely Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun
Sharma.

For SBM Bank

i. Exclusive Charge by way of lien over Fixed Deposit to the Extent of 25% of sanctioned limit.

ii. Subservient charge overall the present and future current assets of the borrower.

iii. Security post dated cheque (PDC) for the principal amount and 3 months interest amount.

iv. Personal guarantee of promoters namely Mr. Yashpal Sharma and Mr. Tarun Sharma.

For HDFC Bank

i. Personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma.

ii. Secondary charge on movable fixed assets of INR 1,260.00 lacs.

iii. First Pari Passu charge on Entire Current Assets, both present and future.

iv. Exclusive charge on Fixed deposit receipts for 25% of the facility amount i.e., INR 315.00 lacs.

For IDFC First Bank

i. Personal guarantee of Mr. Yashpal Sharma and Mr. Tarun Sharma.

ii. Subservient charge over all the present and future Current Assets.

iii. Exclusive charge by the way of lien over Fixed Deposit to the extend of 20% of disbursed limit.

b. Secured by Hypothecation of respective Vehicles and are repayable in equated monthly instalments over
the tenure of loans of 84 months carries interest rate of 7.40% to 9.10%.

c. The company has been sanctioned a total working capital and overdraft limit amounting to INR 40,900.00
lacs from Bajaj Finance Ltd., Axis Bank, HDFC Bank, Indusind Bank, IDFC Bank, SCB, Citi Bank, Federal
Bank, Bank of Bahrain and Kuwait BSC and Yes Bank, carrying interest rate linked to interest rate indices for
overdraft facility and WCDL (to be mutually agreed at the time of disbursement) against which INR 25,817.23
lacs and INR 26,700.99 lacs is outstanding as at March 31,2026 and March 31,2025 respectively. It includes
interest accrued of INR 28.50 lacs and INR Nil as at March 31,2026 and March 31,2025 respectively. These
facilities are secured by:-

i. exclusive charge on Fixed Deposit Receipts of the company.

ii. pari-passu charge on entire present and future current assets of the company except Bajaj Finance
Limited.

iii. Pari-passu charge on residential properties in the name of Bharti Sharma and Sudershan Lal Sharma
between SCB and IDFC.

iv. Also secured with the Personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr.
Tarun Sharma.

d. The company has been sanctioned a short term loan limit amounting to INR 1,000.00 lacs from Tata Capital
Limited carrying interest rate is equal to Short term prime lending rate ("STPLR") plus 0.40%, currently i.e.,
10.00% p.a (9.60% 0.40%) against which INR 1,007.64 lacs and INR Nil is outstanding as at March 31,
2026 and March 31, 2025 respectively. It include interest accrued of INR 7.64 lacs and INR Nil as at March
31, 2026 and March 31, 2025 respectively. These facilities are secured by irrevocable and unconditional
personal guarantee of Mr. Tarun Sharma and Mr. Yashpal Sharma.

b. Other litigations

There are some litigations filed against the Company relating to conduct of its business. These cases are
at various stage of proceedings and the extent of claim or damages is indeterminate at this stage. The
Company is contesting these cases and based on views of internal legal counsel and in consultation with
external legal counsel representing the Company, it believes there is no liability which would devolve over
the Company in respect of such cases and believes its position will be upheld in the jurisdictional authorities
as at close of respective financial year. The Company has also filed certain cases in nature of recovery suit,
cases under Section 138 of the Negotiable Instrument Act, 1881, etc. The Company is pursuing these
cases and have made adequate accrual for allowance for doubtful debts in respect of such cases, wherever
considered necessary.

C. Undrawn committed borrowing facility

i. The Company has availed working capital and overdraft facility from HDFC Bank amounting to INR

8.900.00 lacs (March 31, 2025: INR 8,900.00 lacs). This loan is secured by way of first pari passu
charge on current assets both present and future along with personal guarantee of Mr. Sudershan
Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma. An amount of INR 4,411.08 lacs (March 31,
2025: INR 2,061.44 lacs) remains undrawn as at the year end.

ii. The Company has availed working capital and overdraft facility from Axis Bank amounting to INR
5,000.00 lacs (March 31, 2025: INR 5,000.00 lacs). This loan is secured by way of first pari passu
charge on current assets both present and future, Cash Collateral of 10% along with personal
guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma. An amount of
INR 5.47 lacs (March 31, 2025: INR 2,400.00 lacs) remains undrawn as at the year end.

iii. The Company has availed working capital and overdraft facility from IDFC Bank amounting to INR

4.200.00 lacs (March 31, 2025: INR 4,200.00 lacs). This loan is secured by way of first pari passu
charge on current assets both present and future, INR 100 lacs of underlying instrument (CMS /
Cheque) along with personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and
Mr. Tarun Sharma. An amount of INR 2,034.26 lacs (March 31, 2025: INR 2,700.00 lacs) remains
undrawn as at the year end.

iv. The Company has availed working capital facility from Bajaj Finance Limited amounting to INR

1.500.00 lacs (March 31, 2025: INR 1,500.00 lacs). This loan is secured by way of Cash margin
of 30% sanctioned limit, Fixed Deposit of INR 545.00 lacs along with personal guarantee of Mr.
Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma. An amount of INR Nil ( March
31, 2025: INR Nil) remains undrawn as at the year end.

v. The Company has availed working capital and overdraft facility from Indusind Bank amounting
to INR 2,900.00 lacs (March 31, 2025: INR 2,900.00 lacs). This loan is secured by way of first
pari passu charge on current assets both present and future, Cash Collateral of 35% along with
personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma. An
amount of INR 1,400.00 lacs (March 31, 2025: INR Nil) remains undrawn as at the year end.

vi. The Company has availed working capital and overdraft facility from Kotak Mahindra Bank
amounting to INR Nil (March 31, 2025: INR 3,000.00 lacs). This loan is secured by way of first pari
passu hypothecation charge to be shared with Axis Bank, IDFC First Bank, Standard Chartered
Bank, HDFC Bank, Indusind Bank, Yes Bank, Citi Bank on all existing and future current assets and
moveable fixed assets of the Borrower along with personal guarantee of Mr. Yashpal Sharma and
Mr. Tarun Sharma. An amount of INR Nil (March 31, 2025: INR 3,000.00 lacs) remains undrawn as
at the year end.

vii. The Company has availed working capital and overdraft facility from Standard Chartered Bank
amounting to INR 3,300.00 lacs (March 31, 2025: INR 3,300.00 lacs). This loan is secured by way
of first pari passu hypothecation charge to be shared with Axis Bank, IDFC First Bank, Standard
Chartered Bank, HDFC Bank, Indusind Bank, Yes Bank, Citi Bank, Kotak Mahindra Bank on all
existing and future current assets along with personal guarantee of Mr. Sudershan Lal Sharma ,
Mr. Yashpal Sharma and Mr. Tarun Sharma. An amount of INR 2,300.00 lacs (March 31, 2025: INR

3.300.00 lacs) remains undrawn as at the year end.

viii. The Company has availed working capital and overdraft facility from Yes Bank amounting to INR
3,000.00 lacs (March 31, 2025: INR 3,000.00 lacs). This loan is secured by way of first pari passu
charge on current assets including book debts both present and future, Cash Collateral of 35%
along with personal guarantee of Mr. Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun
Sharma. An amount of INR 200.00 lacs (March 31, 2025: INR 200.00 lacs) remains undrawn as at
the year end.

ix. The Company has availed working capital and overdraft facility from CITI Bank amounting to INR

3,600.00 lacs (March 31, 2025: INR 3,600.00 lacs). This loan is secured by way of first pari passu
charge on current assets including book debts both present and future, 30% collateral cover by
way of pledge over FDR (32% in case of DMF's) of utilised limit with personal guarantee of Mr.
Sudershan Lal Sharma, Mr. Yashpal Sharma and Mr. Tarun Sharma. An amount of INR 1,091.78 lacs
(March 31, 2025: INR Nil) remains undrawn as at the year end.

x. The Company has availed working capital and overdraft facility from Federal Bank amounting to
INR 3,500.00 lacs (March 31, 2025: INR 3,500.00 lacs). This loan is secured by way of first pari
passu charge on current assets both present and future along with personal guarantee of Mr.
Yashpal Sharma, Mr. Tarun Sharma and Mr Sudershan Lal Sharma. An amount of INR 3,500.00 lacs
(March 31, 2025: INR 1,539.55 lacs) remains undrawn as at the year end.

xi. The Company has availed working capital and overdraft facility from Bank of Bahrain and Kuwait
BSC amounting to INR 5,000.00 lacs (March 31, 2025: INR 5,000.00 lacs). This loan is secured by
way of first pari passu charge on current assets of the borrower along with other lenders under
Multiple Banking Arrangement along with personal guarantee of Mr. Yashpal Sharma, Mr. Tarun
Sharma and Mr Sudershan Lal Sharma. An amount of INR Nil (March 31,2025: INR 1,998.03 lacs)
remains undrawn as at the year end.

D. The Company did not have any long term contracts including derivative contracts for which there were any
material foreseeable losses.

34.Gratuity and Other Post-Employment Benefit Plans

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

a. Contribution to Defined Contribution Plan, recognised as expense for the year is as under:

The Company makes contributions towards provident fund and employee state insurance scheme to a
defined contribution retirement benefit plan for qualifying employees. The Company's contribution to
the Employees Provident Fund and Employees State Insurance scheme is deposited with the Regional
Provident Fund Commissioner. Under the scheme, the Company is required to contribute a specified
percentage of payroll cost to the retirement benefit scheme to fund the benefits.

During the year, the Company has recognised INR 93.51 lacs (March 31, 2025: INR 117.77 lacs) for
Employer's contributions to the Provident fund, Employee State Insurance and other contribution in the
Statement of Profit and Loss. The contribution payable to the plan by the Company is at the rate specified
in rules to the scheme.

b. Defined benefit plan - Gratuity plan

The gratuity liability arises on retirement, withdrawal, resignation and death of an employee. The aforesaid
liability is calculated on the basis of fifteen days salary (i.e. last drawn basic salary) for each completed year
of service subject to completion of five years service.

Notes:

1. The discount rate is based on the prevailing market yields of Indian Government securities as at the
balance sheet date for the estimated term of obligations.

2. The expected return is based on the expectation of the average long term rate of return expected on
investments of the fund during the estimated term of the obligations.

3. The estimates of future salary increases considered takes into account the inflation, seniority, promotion
and other relevant factors.

35. Capital Management

For the purposes of Company's capital management, Capital includes equity attributable to the equity holders
of the Company and all other equity reserves. The primary objective of the Company's capital management is to
safeguard its ability to continue as going concern and to ensure that it maintains an efficient capital structure and
maximize shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions
and the requirements of the financial covenants. The Company is not subject to any externally imposed capital
requirements. No changes were made in the objectives, policies or processes for managing capital during the
year ended March 31, 2026 and March 31,2025. Capital gearing ratio is net debt including lease liability divided
by total capital plus net debt and Net debt is calculated as loans and borrowings less cash and cash equivalent.

Note: Investments above exclude investment in subsidiaries and associates amounting of INR 24,035.07 lacs
and INR 23,450.57 lacs as at March 31, 2026 and March 31,2025 respectively which is measured at cost.

B. Fair value measurements

The management assessed that cash and cash equivalents, other bank balances, trade receivables,
trade payables, borrowings, other current financial assets, loans and other current financial liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments.

The fair value of the other financial assets and liabilities is included at the amount at which the instrument could
be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The
following methods and assumptions were used to estimate the fair values:\

1. The fair value of unquoted instruments, loans from banks, other non-current financial assets and non¬
current financial liabilities is estimated by discounting future cash flows using rates currently available for
debt on similar terms, credit risk and remaining maturities. The valuation requires management to use
unobservable inputs in the model, of which the significant unobservable inputs are disclosed in the tables
below. Management regularly assesses a range of reasonably possible alternatives for those significant
unobservable inputs and determines their impact on the total fair value.

2. The fair values of the Company's interest-bearing borrowings are determined by using effective interest
rate (EIR) method using discount rate that reflects the issuer's borrowing rate as at the end of the reporting
period. The own non-performance risk as at March 31, 2026 was assessed to be insignificant.

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

4. Fair value hierarchy

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or
liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable
inputs).

The Company manages surplus funds through investments in mutual fund plans. The NAV declared by
Asset Management Companies (AMC) has generally remained constant on the mutual fund plans taken
by the Company. However, if the NAV of the fund is increased/decreased by 5%, the sensitivity analysis
has been mentioned below:

Note:

i. Investment in mutual funds traded in active markets are determined by reference to quotes from the
financial institutions; for example: Net asset value (NAV) for investments in mutual funds declared by
mutual fund house.

Fair value of the financial assets and liabilities that are not measured at fair value (but fair value disclosures
are required)

The management considers that the carrying amounts of financial assets and financial liabilities having short
term maturities recognised in the financial statement approximates their fair values.

Risk management objectives

Risk management framework

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

- Market risk

- Liquidity risk

- Credit risk

The Company's board of directors has overall responsibility for the establishment and oversight of the
Company's risk management framework.

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 periodically to reflect changes in market conditions and the Company's
activities. The Company, through its training, standards and procedures, aims to maintain a disciplined and
constructive control environment in which all employees understand their roles and obligations.

The audit committee oversees how management monitors compliance with the company's risk management
policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks
faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit
undertakes both regular and adhoc reviews of risk management controls and procedures, the results of which
are reported to the audit committee.

a. Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market prices comprises three types of risk: currency rate risk, interest rate risk
and other price risks. Financial instruments affected by market risks include loans and borrowings, deposits,
investments , and foreign currency receivables and payables. The sensitivity analysis in the following sections
relate to the position as at reporting date. The analysis exclude the impact of movements in market variables
on: the carrying values of gratuity and other post-retirement obligations; provisions; and the non-financial
assets and liabilities. The sensitivity of the relevant Profit and Loss item and equity is the effect of the
assumed changes in the respective market risks. This is based on the financial assets and financial liabilities
held as at March 31,2026 and March 31, 2025.

ii. Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign
exchange rates relates primarily to the Company's operating activities (when revenue or expense is
denominated in foreign currency). The Company evaluates exchange rate exposure arising from foreign
currency transactions and follows established risk management policies.

Foreign currency risk sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD, EUR, JPY, AED,
AUD, CHF, HKD, DKK, GBP & SGD exchange rates, with all other variables held constant. The impact
on the Company profit before tax and equity is due to changes in the fair value of monetary assets and
liabilities. Foreign currency exposures recognised by the Company that have not been hedged by a
derivative instrument or otherwise are as under:

iii. Interest Rate Risk

Interest rate is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. As majority of the financial assets and liabilities of the Company are
either non-interest bearing or fixed interest bearing instruments, the Company's net exposure to interest
risk is as follows:-

Credit Risk is the risk that the counter party will not meet its obligation under a financial instrument or
customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating
activities (primarily trade receivables) and from its financing activities, including deposits with banks,
foreign exchange transactions and other financial instruments.

b. 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. The Company's objective is to at all times maintain optimum levels of liquidity
to meet its cash and liquidity requirements. The Company closely monitors its liquidity position and deploys
a robust cash management system. It maintains adequate source of financing through the use of short term
bank deposits, mutual funds and cash credit facility. Processes and policies related to such risks are overseen
by senior management. Management monitors the Company's liquidity position through rolling forecasts on
the basis of expected cash flows. The Company assessed the concentration of risk with respect to its debt
and concluded it to be low. The Company remains committed to maintaining a healthy liquidity, gearing
ratio, deleveraging and strengthening our balance sheet. The maturity profile of the Company's financial
liabilities based on the remaining period from the date of balance sheet to the contractual maturity date is
given in the table below. The figures reflect the contractual undiscounted cash obligation of the Company.

37.Segment Information37.1 Description of Segment and Principal Activities

As per Ind AS-108, "Operating Segment" ( specified under the section 133 of the Companies Act 2013 (the
Act) read with Companies (Indian Accounting Standards) Rule 2015 (as amended from time to time) and other
relevant provision of the Act ) the Company's chief operating decision maker, i.e. Managing Director ('CODM')
has identified Logistic services and other related services as the reportable segments.

Since the company is having only one reportable segment hence disclosure requirement as per Ind AS 108 is
not applicable.

47.Disclosures pursuant to Ind AS-8 "Accounting policies, changes in accounting estimates and errors" (specified
under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2015) are 'given
below: Following are the restatements made in the current year financial statements in previous year.

(ii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

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

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

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

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

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

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

(v) The Company have not 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.

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

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

(viii) The Company has complied with the number of layers for its holding in downstream companies prescribed
under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of
Layers) Rules, 2017.

(ix) The Company does not have any transactions with companies struck off under section 248 of the Companies
Act, 201 3.

The above reclassifications in previous year have been made, wherever necessary to confirm to the current year
classification/disclosure and does not have any impact on the profit and other comprehensive income, hence
no change in basic and diluted earning per share of the previous year. These restatements/reclassifications
does not have any impact on the equity at the beginning of the previous year.

48. The Companyhasused the accounting softwareformaintainingitsbooks ofaccount which hasafeature ofrecording
audit trail and the same has operated throughout the year for all relevant transactions recorded in the software.

Further, in respect of software used in maintaining payroll records which operated and maintained by a
third party service provider, in absence of service organisation controls report in respect of audit trail,
management is unable to determine whether audit trail feature of the underlying database was enabled
and operated throughout the year. Further no instance of audit trail feature being tampered with
was noted in respect of accounting software except that in absence of service organisation controls
report, we are unable to assess the same in respect of the software used to maintain payroll records.

Additionally, the audit trail to the extent it was enabled has been preserved by the Company as per the
statutory requirements for record retention except that in absence of service organisation controls report, we
are unable to assess the same in respect of the software used to maintain payroll records.

49. On November 21, 2025, the Government of India notified the 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 - consolidating 29 existing labour laws. The Ministry of Labour
& Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to
changes in regulations. The Company has assessed and disclosed the incremental impact of these changes
on the basis of the best information available, consistent with the guidance provided by the Institute of
Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of
this impact, the Company has presented such incremental impact under "Exceptional items" in the standalone
statement of profit and loss for the year ended March 31, 2026. The incremental impact consisting of gratuity
of INR 19.05 lacs and long-term compensated absences of INR 2.16 lacs primarily arises due to change in
wage definition. The Company continues to monitor the finalisation of Central / State Rules and clarifications
from the Government on other aspects of the Labour Code and would provide appropriate accounting effect
on the basis of such developments as needed.

50. During the year, The Company has filed its Draft Red Herring Prospectus ("DRHP") with the Securities
and Exchange Board of India (SEBI) on June 30, 2025 for the purpose of an Initial Public Offering (IPO).
Subsequently, The Company has received 'in-principle' approval from BSE and NSE for the listing of the equity
shares pursuant to their letters dated September 12, 2025.

The Company has filed its Updated Draft Red Herring Prospectus (""UDRHP"") with SEBI on February 21,
2026.

The Company has also filed its Red Herring Prospectus (""RHP"") with Registrar of Companies (""ROC"") on
March 03, 2026. As per the issue programme in the RHP filed, issue of the company was proposed to open
for subscription from March 18, 2026 to March 20, 2026. Due to prevailing US and Iseral ongoing war tensions
with Iran and its consequent effect on global economy pursuant to crude and other energy matters and its
impact on Global markets including Indian Stock markets, the Board of Directors of the company decided to
postponed the IPO vide Board Resolution dated March 10, 2026 and to file the RHP again with ROC, SEBI,
NSE and BSE with the updated Issue Programme and other updated details as per the requirements of SEBI
ICDR Regulations once the market conditions get stable.

51. Events After the Reporting Period

The Board of Directors of the Company at their meeting held on June 26, 2026 have recommended to Members
for their approval, Final Dividend of INR 0.65 per equity share (face value of INR 10.00 per equity share) for the
financial year ended March 31, 2026 amounting to INR 756.89 lacs.

52. The figures have been rounded off to the nearest lacs of rupees up to two decimal places. The figure 0.00
wherever stated represents value less than INR 500/-.

53. Note 1 to 52 form integral part of the standalone balance sheet and standalone statement of profit and loss.