The fair value disclosed excludes stamp duty, registration charges and other directly attributable acquisition costs capitalised as part of the carrying amount in accordance with Ind AS 40, Investment Property. Accordingly, the fair value disclosed is lower than the carrying amount and the same does not indicate impairment in the value of investment property as at March 31, 2026.

9) Fair Valuation Methodology

The Company measures investment property using the cost model, i.e., at cost less accumulated depreciation and accumulated impairment losses, if any. However, in accordance with Ind AS 40, Investment Property, the fair value of investment property has been disclosed in the notes to the financial statements.

The fair values of investment properties have been determined on the basis of valuation carried out by an independent valuer on a case-to-case basis. Valuation is based on government rates, market research, market trend and comparable values as considered appropriate. Since the property was acquired during the year, the transaction price has also been considered as a relevant input, where appropriate, after considering whether there has been any significant change in market conditions between the acquisition date and the reporting date.

a. Terms / rights attached to Equity Shares

Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. There is no restriction on distribution of dividend. However, same except interim dividend is subject to the approval of the shareholders in the Annual General Meeting.

(i) Capital Reserve:

The Company had recognised Surplus arising out of transfer of Assets and Liabilities of erstwhile Carbon Black Division to Capital Reserve. The Company had 33752 forfeited equity shares of face value of ' 10 each in erstwhile year due to non payment of call money by the shareholders.

(ii) Capital Redemption Reserve:

An amount of ' 30.60 Lakhs (equivalent to nominal value of the equity shares bought back and cancelled by the Company in the year ended March 2019) was transferred to Capital Redemption Reserve from General Reserve pursuant to the provisions of Section 69 of the Companies Act, 2013 and article 8 of the Articles of Association of the Company.

(iii) General Reserve

General reserve represents the statutory reserve. In accordance with the erstwhile Companies Act 1956, it was mandatory to apportion a part of the Profit to the General Reserve before declaring Dividend. However under Companies Act , 2013, transfer of any amount to general reserve is at the discretion of the Company.

(iv) Retained Earnings

Retained earnings represents undistributed profits of the Company which can be distributed to its equity shareholders in accordance with the provisions of the Companies Act, 2013.

(v) During the year ended 31 March 2026, the Board of Directors has not proposed any final dividend on equity shares of the Company, as against Nil final dividend proposed for the previous year. Further, no dividend has been paid during the year. During the previous year, the Company had paid final dividend of ' 699.31 lakhs, being ' 7 per equity share, proposed for FY 2023-24 and approved / paid during FY 2024-25.

(D) Performance obligations

The Company's performance obligation in commodity trading contracts is satisfied upon transfer of control of commodities to the customer. The Company does not have any material long-term contracts with unsatisfied performance obligations as at 31 March 2026. Accordingly, disclosure of the transaction price allocated to remaining performance obligations is not applicable.

25 DISCONTINUED OPERATIONS

a. The Scheme of Arrangement as approved by the Board of Directors at its meeting held on May 22' 2022 for the demerger of the Chemical business undertaking of the Company ('Demerged Company') into OCCL Limited ('Resulting Company') on a going concern basis has received requisite approval from National Company Law Tribunal ('NCLT') vide its order dated April 10' 2024. In terms of the NCLT Order, the Hon'ble NCLT had suo motu amended the said Appointed Date to be the date of pronouncement of the NCLT Order i.e. April 10' 2024. The Company had filed an Appeal before the Hon'ble National Company Law Appellate Tribunal, New Delhi Bench ("NCLAT"). The Hon'ble NCLAT vide its order dated May 27' 2024 allowed the said Appeal and has held that the Appointed Date of the Scheme is the Effective Date as mentioned in the Scheme. Respective companies have filed the certified true copy of NCLT and NCLAT orders along with the sanctioned scheme with the Registrar of Companies on July 01'2024. Accordingly, the appointed date and the effective date of the scheme is July 01'2024.

The Company has accordingly charged the difference between carrying value of assets and liabilities amounting to ' 37,494.57 Lakhs (Loss) in the statement of profit and loss account as ""Exceptional Items - Profit/(Loss)"" in compliance with IND AS 105, Non-current Assets Held for Sale and Discontinued Operations. The carrying value of assets of ' 56,734.98 Lakhs and liabilities of ' 19,240.41 Lakhs related to Manufacturing business of Insoluble Sulphur & Chemicals is carried as assets held for sale in financials as on June 30' 2024. Further, upon the scheme becoming effective, the investment made by the demerged company in resulting company shall stand cancelled.

As consideration for demerger, the resulting company will issue its equity shares to each shareholder of the demerged company as on record date in the ratio of 1:1 (i.e. 5 shares of ' 2 each will be issued by the resulting company for every one share of ' 10 each of demerged company).

The net results of Manufacturing business of Insoluble Sulphur & Chemicals for comparative quarters/periods are disclosed separately as discontinued operations as required by IND As 105.

b. Subsequent to demerger as referred in note no. 25 a above , the company has restated its Financial Statements for the year ended March 31, 2024 to disclose true and fair view of financials in accordance with Ind AS 8 (Accounting Policies, Changes in Accounting Estimates and Errors). Thus, fair value gains and losses from some Equity / AIF investments earlier measured as at Fair Value through Other Comprehensive income (FVTOCI) is reclassified to Fair Value through Profit or Loss (FVTPL), as outlined in Ind AS 109. These adjustments have impacted the financial statements for the year ended March 31, 2024 and 31 March 2025. Due to above re-statement there is a shift of reserves from OCI to retained earnings. However, overall the reserves remain same. This restatement did not have any impact on the balance sheet.

26 EMPLOYEE BENEFITS

The Company participates in defined contribution and benefit schemes, the assets of which are held (where funded) in separately administered funds. For defined contribution schemes the amount charged to the statements of profit or loss is the total of contributions payable in the year.

a) Defined Contribution Plans

Amount recognized as an expense and included in Note No. 18 Item "Contribution to Provident and Other Funds" ' 7.92 Lakh (Previous year ' 8.64 Lakh)

b) Other long-term benefits

Amount recognized as an expense and included in Note No. 18 Item "Long Term Compensated Absences" ' 4.06 Lakh (Previous year ' 11.66 Lakh).

c) Defined benefits plans - as per actuarial valuation

Gratuity Expense ' 8.27 Lakh (Previous year ' (18.08) Lakh) has been recognized in "Gratuity" under Note No. 18 as per Actuarial Valuation.

The Company has a defined benefit gratuity plan, which is funded. The Company provided for gratuity for employees in India which is governed by the provisions of the Payment of Gratuity Act, 1972, which has been subsumed into the Code on Social Security, 2020. Employees who have completed five years of continuous service are entitled to gratuity upon separation, retirement, or death. Gratuity is calculated as 15 days' wages for each completed year of service, with

XI. Description of Risk Exposures:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is

exposed to various risks as follow -

a) Salary Increases- Actual salary increases will increase the Plan's liability. Increase in salary increase rate assumption in future valuations will also increase the liability.

b) Investment Risk - If Plan is funded then assets liabilities mismatch & actual investment return on assets lower than the discount rate assumed at the last valuation date can impact the liability.

c) Discount Rate - Reduction in discount rate in subsequent valuations can increase the plan's liability.

d) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

e) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent valuations can impact Plan's liability.

AG Ventures Limited

(Formerly Oriental Carbon and Chemicals Limited)

Notes to Standalone Financial Statement for the year ended March 31, 2026

29 RELATED PARTY DISCLOSURES

Related party disclosure, as required by Indian Accounting Standard-24, is as below:

Annual Report 2025-26

Investment in equity shares of subsidiary company is measured at cost as per Ind AS 27 " Separate Financial Statements" and

are not required to disclose here.

The fair value of cash and cash equivalents, other bank balances, short term loans, current financial assets , current financial

liabilities and borrowings at their carrying amount.

Fair value hierarchy

The fair value of financial instruments has been classified into three levels based on the inputs used in the valuation techniques.

The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the

lowest priority to unobservable inputs.

The categories used are as follows:

Level 1 Level 1 hierarchy includes financial instruments measured using unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. A financial instrument is classified as Level 1 if it is listed on an exchange and quoted in an active market. This includes listed equity instruments and mutual fund units having quoted prices. Listed equity instruments and are valued using the closing quoted price as at the reporting date. Mutual fund units are valued using the closing Net Asset Value (NAV).

Level 2 Level 2 hierarchy includes financial instruments that are not traded in active markets but whose fair value is determined using valuation techniques that maximise the use of observable market data, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, or inputs that are observable for substantially the full term of the financial instrument. If all significant inputs required to fair value an instrument are observable, the instrument is classified as Level 2.

Level 3 Level 3 hierarchy includes financial instruments where one or more significant inputs used in the valuation technique are not based on observable market data. Level 3 inputs incorporate market participants' assumptions about risk and the risk premium required by market participants for bearing that risk. The Company develops Level 3 inputs based on the best information available in the circumstances.

31 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES A Financial risk factors

The Company is primarily engaged in investment activities and trading of commodities, including commodity transactions executed on the Multi Commodity Exchange (MCX) with physical delivery. The Company's activities expose it to financial risks such as credit risk, market risk, liquidity risk, interest rate risk, investment price risk and commodity price risk. The Company's risk management framework focuses on monitoring market conditions, liquidity position, investment portfolio, borrowings, commodity price movements and counterparty exposures to minimise potential adverse effects on its financial performance.

i. Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty fails to meet its contractual obligations. The Company's credit risk primarily arises from bank balances, deposits, loans, other financial assets, investments and receivables, if any, arising in the ordinary course of business. The Company manages credit risk by dealing with reputed banks / financial institutions, approved counterparties / intermediaries and by periodically monitoring investment exposures, fund NAVs, counterparty balances and recoverability of financial assets.

The Company assesses impairment of financial assets at each reporting date in accordance with Ind AS 109, Financial Instruments. Based on the nature of financial assets, credit profile of counterparties, historical experience, settlement pattern and management's assessment of recoverability as at 31 March 2026, the expected credit loss, if any, is not material. Accordingly, no expected credit loss allowance has been recognised in the standalone financial statements.

ii. Market Risk

Market risk is the risk that the fair value or future cash flows of financial instruments will fluctuate due to changes in market prices. The Company's exposure to market risk primarily comprises interest rate risk, investment price risk, liquidity risk and commodity price risk.

a) Investment price risk

The Company is exposed to price risk in respect of investments measured at fair value. The fair value of such investments may fluctuate due to changes in market prices, NAVs of funds, valuation of underlying investee companies, business performance, liquidity conditions and other market factors. The Company manages such risk through periodic review of its investment portfolio, available NAVs / valuation reports / corporate filings and other relevant information.

b) Interest Rate Risk and Sensitivity

The Company's exposure to the risk of changes in market interest rates relates primarily to long term debt. Borrowings at variable rates expose the Company to cash flow interest rate risk.

c) Foreign Currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates.

The Company primarily operates in India and substantially all of its revenues and expenditures are denominated in Indian Rupees. Accordingly, the Company does not have significant foreign currency exposure from its operating activities.

The Company's exposure to foreign currency risk arises from foreign currency denominated monetary assets and liabilities pertaining to certain non-operating transactions. The impact of reasonably possible changes in foreign exchange rates on such exposures is presented in the sensitivity analysis below.

The following table analysis foreign currency risk from financial instruments as of March 31, 2026:

Sensitivity Analysis

A reasonable possible strengthening (weakening) of the Indian Rupee at March 31 would have affected the measurement of financial instruments denominated in Foreign Currencies and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. A 1% increase or decrease is used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonable possible change in foreign currency rate.

iii. Liquidity risk

Liquidity risk is the risk that the Company may not be able to meet its financial obligations as they fall due. The Company manages liquidity risk by monitoring cash flows, maintaining adequate liquidity and reviewing maturity profiles of financial assets and liabilities to meet operational, investment and debt servicing requirements.

iv. Commodity Price Risk

The Company is exposed to commodity price risk on account of trading in commodities, including transactions executed on MCX with physical delivery. Commodity price risk arises due to fluctuations in commodity prices between purchase, sale, settlement and delivery of the underlying commodity. The Company manages such risk through continuous monitoring of commodity price movements, matching of purchase and sale positions, margin monitoring, settlement discipline and transaction-level controls.

B Capital Risk Management

The Company's Policy is to maintain an adequate capital base so as to maintain creditor and market confidence and to sustain future development. Capital includes issued capital, share premium and all other equity reserves attributable to equity holders. In order to strengthen the capital base, the Company may use appropriate means to enhance or reduce capital, as the case may be.

Reasons for significant changes in ratios

1 Current Ratio

Decreased primarily due to reduction in current assets on account of sale / redemption of current investments during the year and increase in current liabilities, including current maturities of borrowings and provisions.

2 Return on Equity Ratio

Increased mainly due to increase in profit after tax during the year, including the impact of reversal / reduction of deferred tax liability.

3 Net Capital Turnover Ratio

Increased primarily due to reduction in working capital following sale / redemption of current investments, along with increase in revenue from operations during the year.

4 Net Profit Ratio

Increased mainly due to increase in profit after tax during the year, including the impact of reversal / reduction of deferred tax liability.

5 Return on Capital Employed

Decreased primarily due to increase in capital employed on account of acquisition of investment property and borrowings availed during the year, without corresponding operating income from such investment property during the year.

6 Return on Investment

Decreased mainly due to increase in the asset base on account of acquisition of investment property and lower return generated on investments during the year.

The above information regarding Micro and Small Enterprises has been determined on the basis of information available with the Company.

34 A. Disclosure of loan and advances as per regulation 34(3) read with Schedule V of SEBI (LODR) regulation of listing

regulation with Stock Exchanges:

The Company has not granted any loans or advances in the nature of loans during the year that are required to be disclosed under Regulation 34(3) read with Clause A of Schedule V of the SEBI (LODR) Regulations, 2015

B. Disclosure Required by Companies Act. 2013

During the financial year ended 31st March 2026, the Company has not given any loans, provided any guarantees or securities, or made any investments requiring disclosure under Section 186(4) of the Companies Act, 2013.

35 There are no charges or satisfaction which are yet to be registered with ROC beyond the statutory period

36 The Company had an overdraft facility against lien / pledge of mutual fund units and was fully repaid / closed before the year end. The Company was not required to submit monthly / quarterly statements or returns of current assets to banks or financial institutions in respect of the said facility. Accordingly, disclosure relating to reconciliation of such statements with the books of account is not applicable.

37 The figures for the corresponding year have been regrouped / reclassified wherever necessary, to make them comparable.

38 (a) OTHER STATUTORY INFORMATION

(i) The Company has no transactions with the companies Struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the financial year ended March 31, 2026.

(ii) The Company has not traded or invested in Crypto currency or Virtual Currency during the current and in previous financial period.

(iii) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India.

(iv) There are no proceedings which have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Properties Transactions Act, 1988 and rules made thereunder.

(v) The Company is not declared wilful defaulter by any bank or financial institution or Government or any Government authority in current periods and in previous financial period.

(vi) The Company has complied with clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

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

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

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

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

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

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

38 (b) The Company is engaged in a single business segment and operates in a single geographical segment. Accordingly, no separate segment information is required to be disclosed as per Ind AS 108 - Operating Segments.