g) Provisions. Contingent Liabilities and Contingent Assets
Provision

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past
event and it is probable that the outflow of resources embodying economic benefits will be required to settled the
obligation in respect of which reliable estimate can be made of the amount of the obligation. When the Company
expects some or all of a provision to be reimbursed, the expense relating to provision presented in the statement of
profit & loss is net of any reimbursement.

If the effect of the time value of money is material, provisions are disclosed using a current pre-tax rate that reflects,
when appropriate, the risk specific to the liability. When discounting is used, the increase in the provision due to the
passage of time is recognized as finance cost.

Contingent liability is disclosed in the notes in case of:

There is a possible obligation arising from past events, the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company.

• A present obligation arising from past event, when it is not probable that as outflow of resources will be required
to settle the obligation

• A present obligation arises from the past event, when no reliable estimate is possible

• A present obligation arises from the past event, unless the probability of outflow are remote.

Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.
Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.
Onerous Contracts

A provision for onerous contracts is measured at the lower of the present value of expected cost of terminating the
contract and the expected cost of continuing with the contract. Before a provision is established, the company
recognizes the impairment on the assets, if any, with the contract.

Contingent assets :

Contingent assets are not accounted in the financial statements unless an inflow of economic benefits is
probable."

h) Revenue from Operations:

(i) Revenue from Contracts with Customers

The Company derives revenue from sale of Commodities

Ind AS 115 “Revenue from Contracts with Customers” provides a control-based revenue recognition model and
provides a five step application approach to be followed for revenue recognition.

• Identify the contract(s) with a customer;

• Identify the performance obligations;

• Determine the transaction price;

• Allocate the transaction price to the performance obligations;

• Recognise revenue when or as an entity satisfies performance obligation.

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the
customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for
those goods or services net of discounts, rebates or schemes, if any, offered by the company. The Company has
generally concluded that it is the principal in its revenue arrangements.

The disclosures of significant accounting judgements, estimates and assumptions relating to revenue from
contracts with customers are provided in Note 13.

Sale of Goods

For sale of goods, revenue is recognised on satisfaction of performance obligation upon transfer of control of
promised products to customers at an amount that reflects the consideration the Company expects to receive in
exchange for those products.

(ii) Investment Income

Investment income is recognised as and when accrued/reinstated as per the terms of the Investments based on
the effective interest rate/appreciation(depreciation) in value of investment as applicable on the basis of quoted
price/statements received from the relevant funds/institutions as applicable. Income from Investments including
interest income is included in revenue from operations in the statement of Profit and Loss.

Dividend income is recognised when the Company's right to receive dividend is established, and is included in other
income in the statement of profit and loss.

i) Other Revenue Streams
Interest Income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest
rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of
the financial asset to the asset's net carrying amount on initial recognition. Interest income is included in other
income in the statement of profit and loss.

j) Employee Benefits

i) Short term employee benefits

Short-term employee benefits in respect of salaries and wages, including non-monetary benefits are
recognised as an expense at the undiscounted amount in the statement of profit and loss for the year in which
the related service is rendered

ii) Defined contribution plans

Employees benefits in the form of the Company's contribution to Provident Fund, Pension scheme,
Superannuation Fund and Employees State Insurance are defined contribution schemes. The Company
recognises contribution payable to these schemes as an expense, when an employee renders the related
service.

If the contribution payable exceeds contribution already paid, the deficit payable is recognised as a liability
(accrued expense), after deducting any contribution already paid. If the contribution already paid exceeds the
contribution due for service before the end of the reporting period, the Company recognise that excess as an
asset (prepaid expense) to the extent that the prepayment will lead to, for example, a reduction in future
payments or a cash refund.

iii) Defined benefit plans

Retirement benefits in the form of gratuity are considered as defined benefit plans. The Company's net
obligation in respect of defined benefit plans is calculated by estimating the amount of future benefit that
employees have earned in the current and prior periods, discounting that amount and deducting the fair value
of any plan assets.

The Company provides for its gratuity liability based on actuarial valuation of the gratuity liability as at the
Balance Sheet date, based on Projected Unit Credit Method, carried out by an independent actuary. The
Company contributes to the gratuity fund, which are recognised as plan assets. The defined benefit obligation
as reduced by fair value of plan assets is recognised in the Balance Sheet.

When the calculation results in a potential asset for the company, the recognised asset is limited to the present
value of economic benefits available in the form of any future refunds from the plan or reductions in future
contributions to the plan. To calculate the present value of economic benefits, consideration is given to any
applicable minimum funding requirements.

Remeasurement of the net defined benefit liability, which comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised
immediately in Other Comprehensive Income. Net interest expense (income) on the net defined liability
(assets) is computed by applying the discount rate, used to measure the net defined liability (asset), to the net
defined liability (asset) at the start of the financial year after taking into account any changes as a result of
contribution and benefit payments during the year. Net interest expense and other expenses related to defined
benefit plans are recognised in profit or loss.

When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that
relates to past service or the gain or loss on curtailment is recognised immediately in profit or loss. The
Company recognises gains and losses on the settlement of a defined benefit plan when the settlement occurs.

iv) Other long-term employee benefits

Employee benefits in the form of long term compensated absences are considered as long term employee
benefits. The Company's net obligation in respect of long-term employee benefits is the amount of future
benefit that employees have earned in return for their service in the current and prior periods. That benefit is
discounted to determine its present value. Remeasurement are recognised in profit or loss in the period in
which they arise.

The liability for long term compensated absences are provided based on actuarial valuation as at the Balance
Sheet date, based on Projected Unit Credit Method, carried out by an independent actuary.

k) Foreign currency transactions
Initial recognition:

Transactions in foreign currencies are translated into the Company's functional currency at the exchange rates
at the dates of the transactions.

Conversion:

Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency
at the exchange rate at the reporting date. Non-monetary assets and liabilities that are measured at fair value
in a foreign currency are translated into the functional currency at the exchange rate when the fair value was
determined. Non-monetary assets and liabilities that are measured based on historical cost in a foreign
currency are translated at the exchange rate at the date of the transaction.

Exchange difference:

Exchange differences are recognised in Statement of profit & loss. In accordance with Ind-AS 101 ‘First Time
Adoption of Indian Accounting Standards', the Company has continued the policy of capitalisation of exchange
differences on foreign currency loans taken before the transition date. Accordingly, exchange differences
arising on translation of long term foreign currency monetary items relating to acquisition of depreciable fixed
assets taken before the transition date are capitalized and depreciated over the remaining useful life of the
asset.

l) Research and Development Expenses

Revenue Expenditure on Research and Development is charged to Statement of Profit and loss in the year in
which it is incurred and capital expenditure is added to Property, Plant & Equipment.

m) Borrowing costs

Borrowing costs are interest and other costs (including exchange differences relating to foreign currency
borrowings to the extent that they are regarded as an adjustment to interest costs) incurred in connection with
the borrowing of funds. Borrowing costs directly attributable to acquisition or construction of an asset which
necessarily take a substantial period of time to get ready for their intended use are capitalised as part of the
cost of that asset. Other borrowing costs are recognised as an expense in the period in which they are incurred.

n) Income Tax

Income tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent
that it relates to items recognised directly in Other Comprehensive Income

i) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year after
taking credit of the benefits available under the Income Tax Act and any adjustment to the tax payable or
receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the
reporting date.

Current tax assets and liabilities are offset only if, the Company:

a) has a legally enforceable right to set off the recognised amounts; and

b) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

ii) Deferred tax

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and
liabilities for financial reporting purposes and the corresponding tax bases used for taxation purposes.
Deferred tax is not recognised for:

- temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business
combination and that affects neither accounting nor taxable profit or loss; and

- temporary differences related to investments in subsidiary to the extent that the Company is able to control
the timing of the reversal of the temporary differences and it is probable that they will not reverse in the
foreseeable future.

A deferred income tax asset is recognised to the extent that it is probable that future taxable profits will be
available against which deductible temporary differences and tax losses can be utilised. Deferred tax assets
are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related
tax benefit will be realised; such reductions are reversed when the probability of future taxable profits
improves.

Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it
has become probable that future taxable profits will be available against which they can be used.

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they
reverse, using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred
tax reflects the tax consequences that would follow from the manner in which the Company expects, at the
reporting date, to recover or settle the carrying amount of its assets and liabilities.

For operations carried out in tax free units, deferred tax assets or liabilities, if any, have been recognised for the
tax consequences of those temporary differences between the carrying values of assets and liabilities and
their respective tax bases that reverse after the tax holiday ends.

Deferred tax assets and liabilities are offset only if:

a) The entity has a legally enforceable right to set off current tax assets against current tax liabilities; and

b) The deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation
authority on the same taxable entity.

Deferred tax assets include Minimum Alternative Tax (MAT) paid in accordance with the tax laws, which gives
rise to future economic benefits in the form of adjustment of future income tax liability, is considered as an
asset if there is probable evidence that the Company will pay normal income tax in future. Accordingly, MAT is
recognised as deferred tax asset in the Balance Sheet.

o) Segment Reporting

The accounting policies adopted for the segment reporting are in conformity with the accounting policies adopted
for the Company. Primary Segments are identified by the chief operational decision maker (CODM) based on the
nature of products and services, the different risks and returns and the internal business reporting system.
Revenue, Expense, Assets and Liabilities, which relate to the Company as a whole and could not be allocated to

segments on a reasonable basis, have been classified as unallocated. Secondary segment is identified based on
geography by location of customers i.e. in India and outside India.

Segment revenue includes sales and other income directly identifiable with / allocable to the segment including
intersegment transfers. Inter segment transfers are accounted for based on the transaction price agreed to
between the segments which is at cost in case of transfer of Company's intermediate and final products and
estimated realisable value in case of by-products.

p) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with original maturities of
three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value.

q) Cash flow statement

Cash flow statements are prepared in accordance with “Indirect Method” as explained in the Accounting Standard
on Statement of Cash Flows (Ind AS - 7). The cash flows from regular revenue generating, financing and investing
activity of the Company are segregated.

r) Lease

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract
conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as lessee

The Company's lease asset classes primarily comprise of lease for land and building. The Company assesses
whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract
conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To
assess whether a contract conveys the right to Control the use of an identified asset, the Company assesses
whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of the economic
benefits from use of the asset through the period of the lease and (iii) the Company has the right to direct the use of
the asset.

The Company applies a single recognition and measurement approach for all leases, except for short-term leases
and leases of low-value assets. For these short-term and low value leases, the Company recognizes the lease
payments as an operating expense on a straight-line basis over the term of the lease. The Company recognises
lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets
as below:.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the
underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated
depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-
of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease
payments made at or before the commencement date less any lease incentives received. Right-of-use assets
are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
underlying assets.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the
exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-
of-use assets are also subject to impairment. Refer to the accounting policies in section ‘Impairment of non
financial assets'.

ii) Lease Liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present
value of lease payments to be made over the lease term. The lease payments include fixed payments (including

in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an
index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also
include the exercise price of a purchase option reasonably certain to be exercised by the Company and
payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to
terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses
(unless they are incurred to produce inventories) in the period in which the event or condition that triggers the
payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the
lease commencement date because the interest rate implicit in the lease is not readily determinable. After the
commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if
there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future
payments resulting from a change in an index or rate used to determine such lease payments) or a change in
the assessment of an option to purchase the underlying asset.

The Company’s lease liabilities are included in other current and non-current financial liabilities (see Note 10c).

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have
a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also
applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease
payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis
over the lease term.

"Lease liability" and "Right of Use" asset have been separately presented in the Balance Sheet and lease payments
have been classified as financing cash flows.

s) Earning per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to Equity Shareholders by
the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted Earning per Share, the net profit or loss for the period attributable to Equity
Shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of
all dilutive potential equity shares.

t) Discontinued Operations and Non-current Assets Held for Sale

The Company classifies non-current assets (or disposal groups) as held for sale if their carrying amount will be recovered
principally through a sale transaction rather than through continuing use. Assets and liabilities classified as held for sale
are measured at the lower of carrying amount and fair value less costs to sell. Discontinued operations are presented
separately in the Statement of Profit and Loss, and prior period figures are restated where applicable, in line with Ind AS
105.

(ii) Capital Redemption Reserve:

An amount of Rs. 30.60 Lakhs (equivalent to nominal value of the equity shares bought back and cancelled by the Company in
the year ended March 2019) has been 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, the Company has paid Interim dividend of Rs. Nil; (Previous year Rs. 7.00) per equity share. Now, final dividend
of Rs. Nil (Previous year Rs. 7.00) per equity share for financial year 2024-25.

23 DISCONTINUED OPERATIONS

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 Rs.
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 Rs.56,734.98
Lakhs and liabilities of Rs. 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 Rs. 2 each will be issued by the resulting company for every one
share of Rs. 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."

24 RESTATEMENT OF FINANCIAL STATEMENTS

Subsequent to demerger as referred in note no. 23 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
March 31, 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. The impact of the restatement for the
year presented along with the impact on Earnings per Share is tabulated below:

25 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. 16 Item "Contribution to Provident and Other Funds" Rs. 8.64
Lakh (Previous year Rs.7.05 Lakh)

b) Other long-term benefits

Amount recognized as an expense and included in Note No. 16 Item "Long Term Compensated Absences" Rs. 11.66 Lakh
(Previous year Rs. 0.38 Lakh).

c) Defined benefits plans - as per actuarial valuation

Gratuity Expense Rs. (18.08) Lakh (Previous year Rs. 3.52 Lakh) has been recognized in "Gratuity" under Note No. 16 as
per Actuarial Valuation.

XII. 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.

The fair value of cash and cash equivalents, other bank balances, trade receivables, short term loans, current financial assets,
trade payables, current financial liabilities and borrowings at their carrying amount.

Fair value hierarchy

The table shown above analysis financial instruments carried at fair value, by valuation method. The different levels have been
defined below:

Level 1 This includes financial instruments measured using quoted prices.

Level 2 The fair value of financial instruments that are not traded in an active market is determined using valuation techniques
which maximise the use of observable market data and rely as little as possible on entity-specific estimates.

Level 3 If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. There
are no transfers between level 1, level 2 and level 3 during the year.

Valuation technique used to determine fair value:

Specific valuation techniques used to value financial instruments include:

The use of quoted market prices.

As per Para D-15 of Appendix D of Ind AS 101, Company has opted to value its investment in Subsidiaries at Cost.

The fair values for security deposits (assets & liabilities) were based on their carrying values.

30 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

A Financial risk factors

The Company is exposed to various financial risks i.e. market risk, credit risk and risk of liquidity. These risks are inherent and
integral aspect of any business. The primary focus of the Risk Management Policy is to foresee the unpredictability of financial
markets and seek to minimize potential adverse effects on its financial performance. The primary market risk consists of
foreign exchange risk and interest rate risk. The Company calculates and compares the various proposals of funding by
including cost of currency hedging also. The Company uses derivative financial instruments (Forward Covers) to reduce foreign
exchange risk exposures.

i. Credit risk

The Company evaluates the customer credentials carefully from trade sources before extending credit terms and credit
terms are extended to only financially sound customers. The Company secures adequate advance from its customers
whenever necessary and hence risk of bad debt is limited. The credit outstanding is sought to be limited to the sum of
advances and credit limit determined by the Company. The Company have stop supply mechanism in place in case
outstanding goes beyond agreed limits.

ii Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of fluctuation
in market prices. These comprise three types of risk i.e. currency rate , interest rate and other price related risks. Financial
instruments affected by market risk include loans and borrowings, deposits, investments, and derivative financial
instruments. 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. Interest rate risk is the risk that the fair value or future cash flows of a
financial instrument will fluctuate because of changes in market interest rates. Regular interaction with bankers,
intermediaries and the market participants help us to mitigate such risk.

a) Foreign Currency risk

The primary market risk to the Company is foreign exchange risk. The Company uses derivative financial instruments
to reduce foreign exchange risk exposures and follows its risk management policies to mitigate the same. After taking
cognisance of the natural hedge, the company takes appropriate hedges to mitigate its risk resulting from
fluctuations in foreign currency exchange rate(s).

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.

iii Liquidity risk

Liquidity risk arises when the Company will not be able to meet its present and future cash and collateral obligations. The
risk management action focuses on the unpredictability of financial markets and tries to minimise adverse effects. The
Company uses derivative financial instruments to hedge risk exposures. The Company’s approach is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when due and company monitors rolling forecasts of its
liquidity requirements.

iv Commodity Price Risk

The company is exposed to commodity price risk due to fluctuations in prices, which directly impact its bullion sales and
delivery operations through banks on the Multi Commodity Exchange (MCX). To manage this risk, the company employs
prudent inventory and pricing strategies, including real-time price monitoring and alignment of procurement with sales
commitments. Moreover, transactions are typically structured with price lock-in or hedging mechanisms on MCX to
minimize exposure to adverse price movements. In many cases, pricing arrangements with banking partners allow for
pass-through of gold price changes, thereby mitigating the impact of volatility on the company’s margins and financial
performance.

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.

"Note:

* Reason - For Change in Net capital Turnover Ratio is Sale of Current Investments during the year and transfer of current
invetsment to OCCL Limited (Resulting Company).

** Reason - During the year, there is reduction in Gain from liquid investments leading to reduced Net Profit. Additionally,
company has routed funds towards Income from Commodity Trading which has yielded low profits.

*** Pursuant to the scheme of demerger the chemical business of the Company was transferred to the resulting Company (OCCL
Ltd.), details of assets held for sale were not available for year ended March 2023, Thus, these ratios were presented as per
March 24 signed financials.

^A Pursuant to the scheme of demerger the chemical business of the Company was transferred to the resulting Company (OCCL

Ltd.), some ratios as given above were not applicable.

35 Monthly statements/returns filled by the Company with banks or financial institutions are in agreement with books of
accounts.

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

37 (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, 2025.

(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.

37 (b) Details of Transfer to Investor Education and Protection Fund (IEPF)

There have been delays in transferring the following amounts, which were required to be credited to the Investor
Education and Protection Fund (IEPF) in accordance with the provisions of the Companies Act, 2013:

The delay in deposit of unclaimed dividend was mainly due to glitch in the MCA portal. The Company has subsequently transferred
all the above amounts to the IEPF.

37 (c) 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.

38 The company has availed overdraft facility from HDFC Bank against Liquid Investments (Mutual Funds). [Refer Note no. 4]

As per our Report of even date attached For and on behalf of the Board of Directors of

ORIENTAL CARBON & CHEMICALS LIMITED

For S S Kothari Mehta & Co. LLP

Chartered Accountants Arvind Goenka Abhinaya Kumar

Firm Reg. No. 000756N/N500441 Chairman Chief Executive Officer

DIN-00135653 Place : Noida

Place : Noida

Deepak K. Aggarwal Vipin Aman Abhishek

Partner Company Secretary Chief Financial Officer

Membership No. 095541 Membership No. A55308 Place : Noida

Place : Noida

Place : Noida
Date : 28/05/2025