(a) CWIP as at March 31, 2026, includes cost incurred on Construction of Pipeline connectivity from port to refinery at Hazira Plant. The completion of construction of pipeline is pending since more than 3 years. The reason for the delay is due to pending approval of 'Right to Way' from the Government of Gujarat (GoG) over the land through which pipeline has passed through.

(b) As at March 31, 2026, there are no projects for which completion timelines have exceeded the original plan. Accordingly, there are no amounts to be disclosed under this category for the current year. Comparative details for the previous year are provided in (c) below.

(c) As at March 31, 2025, certain expansion projects at Gohana, Bundi, Haldia and Kadi plants, with an aggregate cost of ' 7A6.A6 crores, had experienced delays beyond their originally planned completion timelines.

During the year ended March 31, 2026, such delays have been regularised / addressed and no projects remain overdue as at the reporting date. Further, as at March 31, 2026, no projects have exceeded the originally approved cost or timeline, as approved by the Board of Directors.

a) During the year, basis approval received from the Board of Directors vide their meeting held on November 03, 2025, the Company has initiated the process of striking off a subsidiary - AWL Edible Oils and Foods Private Limited. An application for strike-off was filed with the Ministry of Corporate Affairs, and accordingly, the subsidiary was struck off from the register of companies with effect from March 23, 2026. Consequently, the Company has written off its investment against the existing impairment provision amounting to '0.10 Crores.

b) During previous year, the Company completed acquisition of 67% stake in Omkar Chemical Industries Private Limited (“OCIPL”) by acquiring and subscribing to equity shares of OCIPL for a consideration of ' 16.36 Crores. Pursuant to the acquisition, OCIPL has become a subsidiary of the Company.

c) The Company had entered into a Share Purchase Agreement (SPA) on March 0A, 2025, for acquiring 100% equity stake in G.D. Foods Manufacturing (India) Private Limited (“GDMIPL”) with an enterprise value of ' 603 Crores. GDMIPL is engaged in the business of manufacturing, packaging, and selling various types of processed and preserved food products under the brand name “Tops”.

On 16 April 2025, AWL Agri Business Limited (“the Company”) acquired 80% equity interest in GDMIPL. GDMIPL is a subsidiary of the Company as at the reporting date.

In accordance with Ind AS 27 - Separate Financial Statements, investments in subsidiaries are measured at cost.

As part of the acquisition arrangement, the Company entered into put and call option contracts over the residual 20% equity interest in GDMIPL and a contingent consideration arrangement linked to valuation upside on inventory sale. These arrangements give rise to contractual rights and obligations of the Company and have been accounted for in accordance with Ind AS 109 - Financial Instruments

The put and call option liability and the contingent consideration liability are recognised as financial liabilities and are subsequently measured at fair value through profit or loss in accordance with Ind AS 109 - Financial Instruments.

The carrying amount of the investment in GDMIPL is reviewed for impairment in accordance with Ind AS 36 - Impairment of Assets, whenever there is any indication that the investment may be impaired.

d) The Investment includes Value of Deemed Investment of ' 6 Crores (previous year ' 6 Crores) in terms of fair valuation of corporate guarantee under Ind AS 109.

e) Refer note A6 for disclosure of significant interest in subsidiaries and joint ventures as per Ind AS 27 para 17.

a) Refer note 38 and note 50 for loans given to related parties for disclosure required under The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

b) No loans are granted to Promoter, Directors, Key Managerial Personnel and any person related to them either severally or jointly with any other person and that are repayable on demand or without specifying any terms or period of repayment.

c) Loan of ' Nil Crores (previous year ' A9.05 Crores) given to joint venture entities has been due for recovery in current year and has been extended / renewed by the Company for further 2 years on the date it became due.

b) Placed as margin for Term loan from banks, Bank Guarantee, Buyer's credit and Letter of Credit facilities availed by the Company. (refer note 18 & 21)

c) I ncentive receivables include an amount of '9.23 crores (gross claim of '12.29 crores less '3.06 crores, measured at cost after considering the impact of the time value of money) relating to sales tax/VAT paid during FY 2015-16 and FY 2016-17 under the West Bengal State Support for Industry Scheme, 2008. The Company had recognised the incentive claim in the respective years based on the Industrial Promotional Assistance (IPA) sanction letter dated November 16, 2016.

The Company filed a writ petition on February 10, 2023 before the Hon'ble High Court at Kolkata seeking recovery of the outstanding incentive amount. The Hon'ble High Court, by an order of a single bench, directed the State Government to disburse the claim within two months. Subsequently, the State Government filed an appeal before a larger bench of the Hon'ble High Court against the said order. In parallel, the Company also filed a petition seeking initiation of contempt proceedings for non-compliance with the aforesaid order. Both matters are pending adjudication before the Hon'ble High Court.

During the year, the State Government enacted the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025 (“Revocation Act”), which seeks to retrospectively withdraw and discontinue various incentive schemes introduced during the period 1993 to 2021. Aggrieved by the enactment of the Revocation Act, the Company has filed a further writ petition before the Division Bench of the Hon'ble High Court at Kolkata, which is pending.

However, considering the provisions of the Revocation Act the Company has provided entire receivable amount of ' 9.23 crores during the year though appeal against such Revocation Act is still pending.

I ncentive receivables also include amounts aggregating to '12.30 crores (gross amount of '16.37 crores less 'A.07 crores, measured at cost after considering the impact of the time value of money) relating to industrial incentives for capital expenditure, including rebate on sales tax and power charges, receivable from the State Governments of Andhra Pradesh and Telangana. These incentives were recognised in earlier years based on approvals received from the Commissioner of Industries, Andhra Pradesh. The Company had filed a writ petition before the Hon'ble High Court of Andhra Pradesh for recovery of the pending incentive amounts in previous year, which remains pending adjudication. Further, during the year the Company is in process of revoking the writ petition file before the Hon'ble High Court of Andhra Pradesh.

During the year ended March 31, 2026, the Company received 'A.21 crores against the incentive receivable from the State of Andhra Pradesh.

In respect of the balance incentive pertaining to the State of Telangana amounting to '8.09 crores, based on management's assessment of recoverability as at the reporting date, a provision for the entire amount has been recognised in the books of account.

d) No receivables are due from directors or other officers of the Company either severally or jointly with any other person nor any other receivable are due from firms or private companies in which any director is a partner, a director or a member.

a) i) Includes ' 517.68 Crores (previous year ' 517.68 Crores) paid under protest as social welfare surcharge (SWS) levied on basic custom duty during the period from September 25, 2019 to June 30, 2021 at specified rate on import of material. The Company has filled writ petition in the matter with the Hon'ble High Court of Gujarat and the Hon'ble High Court of Andhra Pradesh against the custom department claim of payment of SWS in cash although basic and additional duty of customs are exempted on material imported against valid MEIS / SEIS duty scripts. The Company, on the basis of legal advise from the external legal counsel, assessed that there is good chance that the matter will be decided in the Company's favor. The Company has however, provided the amount in full and disclosed the same as provision. (refer note 20)

ii) Apart from above, the Company has also paid under the protest differential custom duty of ' 19.90 Crores (previous year ' 19.86 Crores) on import of materials in earlier years and against the matter the Company has filled appeal with the Hon'ble High Courts against the assessment made by the customs authority for refund of differential duty. Based on assessment about recoverability of amount deposited and outcome of the appeal filed, the Company has made provision against outstanding deposited amount. (refer note 20 for further details).

iii) The Company has also deposited ' 11.7A Crores (previous year ' 16.76 Crores) to various government authorities against demand of taxes and duties against on going litigations disclosed as contingent liabilities. (refer note 35)

a) The cost of inventories recognised as an expense includes ' 1.72 Crores (previous year ' 93.91 Crores) in respect of writedowns of inventory to net realisable value. During the year, reversal of previous write-downs of ' 93.91 Crores (previous year ' Nil Crores) have been made owing to subsequent increase in realisable value.

b) Inventories are pledged / hypothecated as security against the term loan and working capital facility availed from banks. (refer note 18 & 21)

c) Inventories of packing material and stores and consumables are net of provision of ' 2A.70 Crores (previous year ' 26.53 Crores) for slow moving / non moving / obsolete inventories.

a) Secured receivables backed by customer's deposits and bank guarantees (refer note 24) for security deposits from customers.

b) Trade receivables are non-interest bearing and are generally having credit period of 7 to 45 days. Interest is levied on delay payment at 15% per annum (previous year 18%).

c) No trade receivables are due from directors or other officers of the Company either severally or jointly with any other person nor any trade or other receivable are due from firms or private companies in which any director is a partner, a director or a member.

d) Above balances with trade receivables include balances with related parties and for the terms and conditions relating to related party receivables. (refer note 38)

e) There are no such contract assets reclassified to receivables. (refer note 43)

f) Trade receivables are pledged / hypothecated as security against the term loan and working capital facility availed from banks. (refer note 18 & 21)

a) Deposits are kept for short term period ranging from one day to three months depending on the fund requirements of the company and interest rate of the deposit. These deposits earn interest at floating rates prescribed by the bank.

b) Cash and cash equivalents are pledged / hypothecated as security against the term loan and working capital facility availed from banks. (refer note 18 & 21)

* During the previous year, Adani Enterprises Ltd (“AEL”), Adani Commodities LLP (“ACL”, wholly-owned by AEL) and Lence Pte Ltd (“Lence”, a wholly-owned subsidiary of Wilmar International Limited (“Wilmar”)) had entered into a call and put option agreement (“C&P Agreement”) dated December 30,2024, in terms of which ACL and Lence had agreed to grant a simultaneous right of call option and put option to each other to have the option to exercise such a right for purchase and sale of all shares held by ACL at the time of exercise of such option up to a maximum of 40,37,39,517 equity shares constituting 31.06% of the paid-up equity share capital of Adani Wilmar Limited (“Shares”), at a price to be mutually agreed by the parties in writing.

Accordingly, legal name of the company was changed from Adani Wilmar Limited to AWL Agri Business Limited w.e.f March 17, 2025.

During the year, AEL, ACL and Lence decided to terminate C&P Agreement and had entered into a separate share purchase agreement, wherein Lence, at its absolute discretion, agreed to acquire minimum 11% and maximum 20% of the paid-up share capital of the Company. On July 18, 2025, ACL sold 13,5A,82,A00 Equity Shares (constituting 10.A2% of the paid-up capital of the Company) in open market through block deal. Consequently, ACL's stake in the Company reduced to 20%.

Further, ACL sold 16,89,58,219 equity shares (13% of the paid-up capital) to Lence on November 19, 2025 followed by 9,09,77,502 equity shares (7%) through a block deal in the open market on November 21, 2025 thereby fully diluting its stake; as a result, Wilmar, through Lence, acquired 56.9A% of the company's equity and the company became a subsidiary of Wilmar effective November 19, 2025.

The C&P Agreement is an arrangement solely between the Company's two shareholders, ACL and Lence. The Company is not a party to the agreement and has no rights, obligations, or responsibilities arising therefrom. Accordingly, the C&P Agreement does not have any impact on the financial position, results of operations, or cash flows of the Company.

e) Retained earning are the net profit / (Loss) that the Company has earned / incurred till date, less any transfer to general reserves, dividends or other distributions paid to shareholders. Retained earnings also includes re-measurement loss / (gain) on defined benefit plans net of taxes that will not be reclassified to the statement of profit and loss.

The shares are held by AWL Employee Welfare Trust for implementation of AWL Employee Stock Option Scheme 2024 (“Scheme”) in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations,2021. These shares have been acquired by AWL Employee Welfare Trust through secondary market purchase and shall be held by the trust until transfer to eligible employees upon exercise/vesting of options under the Scheme. The shares are not held for investment purposes and can be transferred only for implementation of the Scheme. Voting rights on shares held by the trust shall not be exercised directly by trustees except in accordance with SEBI SBEB Regulations and trust deed. Shares held by the trust may only be transferred to eligible employees under approved schemes and cannot be sold except as permitted by SEBI Regulations.

During the financial year, the Company advanced an interest-free loan of ' 35 Crores (previous year ' 122.47 Crores) to the AWL Employee Welfare Trust (ESOP Trust), an Employee Benefit Trust set up exclusively to administer the Company's Employee Stock Option Plan (ESOP). The objective of this financial assistance is to enable the Trust to acquire, hold, and transfer equity shares of the Company to eligible employees upon the vesting and exercise of their stock options. The ESOP Trust functions as an extension of the Company's standalone operations. Accordingly, the loan advanced to the Trust has been eliminated in the standalone financial statements. Tenure of the loan given to ESOP trust is based on the terms of the scheme and shall be repayable to the Company upon realisation of proceeds on transfer/ exercise of shares granted to the employees.

• Existing Refinery at Krishnapatnam Unit 2, Unit Industrial Park, Village Pantapalem (Epuru - IB), Muthukur Mandal, District Nellore, Andhra Pradesh.

(ii) First pari-passu charge on Movable Assets of the following Brown-field, Green Field and existing Locations (present and

future):

• 165 TPD Castor Derivative Plant (Brown Field Project Under Construction) getting set-up in the said Capex Program at Pragpar, Mundra in Gujarat.

• 96 TPD Soap Line (Brown Field Project Under Construction) getting set -up in the said Capex Program at Mundra in Gujarat

• 350 TPD RFM i.e. Value-Added Product of Atta (Brown Field Project Under Construction) getting set up at Gohana in Haryana.

• 400 TPD Oleo Chemical Complex (Green Field Project Under Construction) at Krishnapatnam, Andhra Pradesh

• Existing Castor Crushing and Refining Plant situated at Village Pragpar, Taluka Mundra, District Kutch, Gujarat.

• Existing Mustard Crushing and Refining Plant situated at Village Chhatarpura, Tehsil Bundi, District Bundi, Rajasthan. (Excluding properties under Negative Lien at Bundi Location)

• Existing Refinery at Krishnapatnam Unit 1, Village Pantapalem (Epuru - 1B), Muthukur Mandal, District Nellore, Andhra Pradesh.

• Existing Refinery at Krishnapatnam Unit 2, Unit Industrial Park, Village Pantapalem (Epuru - 1B), Muthukur Mandal, District Nellore, Andhra Pradesh.

(iii) Second Pari-passu charge on the entire current assets (Present and Future).

d) As at March 31, 2026, the Company has fully complied with all the financial covenants applicable to its term loans. The principal financial covenants stipulated under the respective loan agreements include, inter alia, the Debt Service Coverage Ratio (DSCR), Fixed Asset Coverage Ratio (FACR), Term Debt to EBITDA Ratio, and the ratio of Total Outstanding Liabilities to Adjusted Tangible Net Worth (TOL/ATNW).

These covenants are tested annually, in accordance with the terms and conditions of the relevant borrowing arrangements. Based on the Company's assessment as at the reporting date, there has been no breach of any financial covenants, nor is there any indication of difficulty in meeting the applicable covenant requirements.

Accordingly, the related borrowings have been classified in accordance with their respective contractual repayment schedules as at March 31, 2026

(iii) The rate of interest for above working capital facilities are as follows:

• Buyers Credit (In Foreign Currency) : 90 days of SOFR spread i.e. Nil (previous year 5.21% to 5.22%)

• Export Packing Credit : 6.62% to 6.72% (previous year 7.25%)

• Overdraft Facility from Banks : 6.60% to 7.61% (previous year 7.75% % to 8.00%)

(iv) Repayment terms of working capital borrowing are as follows :

• Export Packing Credit and Buyer's Credit are repayable within 80 to 90 days of being drawn.

• Overdraft facility and working capital demand loan are repayable on demand.

(v) Nature of arrangements of Supplier Bills Discounting:

The Company has entered into Bill Discounting Facility with banks, whereby payments against the accepted invoices of the domestic suppliers are financed under the Company's working capital facilities. As the arrangements utilise the Company's borrowing limits, the resulting obligation is presented as current borrowings.

UPAS Letter of Credit facility is secured by

• Margin money deposits of the banks against the facility sanction amounts (refer note 12 & 13).

• Also, secured by overall security given under the Consortium Financing Facility towards entire working capital facilities availed by the Company includes:

• first pari passu charge by way of hypothecation on all present and future current assets including inventories, stores & spares, book debts, receivables, advances and other current assets.

• Second pari passu charge by way of equitable mortgage on all present and future immovable properties and hypothecation of present and future all other movable assets.

a) Security deposits from customers in the company's business are generally not repaid within a period of twelve months based on historical experience. The Company classifies such deposits as current as it does not have right to defer the settlement for twelve months after the reporting period.

b) Capital creditors includes due to micro enterprises and small enterprises ' 36.18 Crores (previous year ' 31.83 Crores).

c) Other payable includes

i. Mandi fees payable of ' 5.16 Crores (previous year ' 10.50 Crores) on procurement of materials;

ii. Provision for duty and interest exposure towards non-fulfilment of export obligation for EPCG licenses and other export incentives ' 17.A5 Crores (previous year ' 15.7A Crores);

iii. Credit balance in customer account relating to unsettled advances, credit notes and other dues with no remaining performance obligation and settleable in cash if claimed ' 9.12 Crores (previous year ' 5.73 Crores);

iv. Consideration payable to erstwhile promoters of GDMIPL pertains to acquisition of Equity of GDMIPL of ' 6.6A Crores as per SPA entered between the parties (previous year ' Nil Crores) (refer note A);

c) Other Commitments :

i) During the earlier years, the Company has imported plant and machinery for its Projects under the Export Promotion

Capital Goods (EPCG) Scheme at concessional rate as well as at NIL rate of customs duty, subject to the fulfillment of stipulated export obligations within the prescribed timelines. The status of the future export obligations under the EPCG Scheme as at March 31, 2026 is as follows:

a) Export Obligation of ' 103.52 Crores (previous year ' 187.05 Crores) has been fulfilled. The Company has filed redemption application with the Director General of Foreign Trade (DGFT) with regards to procedural relinquishment of the said Export obligations.

b) Export Obligation of ' 31.7A Crores (previous year ' A1.12 Crores) is pending. Against this, the customs duty amount saved of ' 5.29 Crores (previous year ' 6.85 Crores). The remaining exports obligation are required to be completed within 6 - 8 years from the respective EPCG License dates, including extension granted by the competent authority, i.e. latest by FY 2026-27 and 2029-30 as applicable to individual licenses.

During the year ended March 31, 2025, the Company had reassessed certain pending EPCG export obligations and based on its evaluation of the inability to fulfil such obligations within the stipulated period, had recognised provision of ' 16.90 Crores, including interest of ' 9.98 Crores, in the Standalone Statement of Profit and Loss. Out of the above provision, the liability outstanding as at March 31, 2026 amounts to ' 15.09 Crores (March 31, 2025: ' 13.89 Crores).

During the current year, the Company has applied for and received extensions of the export obligation period for certain EPCG licenses. Accordingly, the pending export obligations relating to such licenses have been considered as a continuing obligations as at March 31, 2026.

36 Segment Reporting

The Company has presented segment information in its consolidated financial statements which are part of the same annual report. Accordingly, in terms of Indian Accounting Standard on Segment Reporting (Ind AS 108) no disclosure related to the segment are presented in the Standalone Financial Statement.

The capital commitments are relating to ongoing manufacturing projects at various locations which includes Krishnapatnam, Haldia, Hazira, Nagpur, Mundra etc.

b) The Company has entered in to definitive agreement with Adani Estate Management Private Limited (AEMPL) on January 10, 2022 for acquisition of immovable property, including land for a provisional consideration of ' 200 Crores. During the previous year ended March 31,2025, an amendment to the original agreement has signed on January 16, 2025 where the consideration has amended with change in scope to ' 358.31 Crores. As at March 31, 2026, the Company has paid ' 196.86 Crores (March 31, 2025, ' 128.53 Crores) as an advance under the terms of the agreement.

A Determination of Materiality Threshold for Disclosure of Related Party Transactions

For the purpose of disclosures under Ind AS 24, the Company has applied a materiality threshold of 10% of total related party transactions in each category (e.g., sale of goods, purchase of assets, services rendered/received) for the financial year. Transactions exceeding this threshold are disclosed individually by type and related party, while others are disclosed in aggregate. The threshold, determined based on the size and nature of business and qualitative factors, is applied consistently to ensure material transactions are not obscured through aggregation.

B Terms and conditions of transactions with related parties :

a) Sale of Products:

For terms of transaction

Sales to related parties are conducted in the ordinary course of business on an arm's length basis, consistent with terms offered to third parties. Pricing, discounts, and payment terms are mutually agreed and benchmarked against similar transactions with non-related parties

For terms of balance

Trade receivables are unsecured, interest-free, and settled in cash, with no guarantees or security obtained. Outstanding amounts are generally recoverable within 30-60 days from the reporting date. For the year ended 31 March 2026, the Company has not recorded any impairment on receivables due from related parties (31 March 2025: Nil).

b) Purchase of Raw Materials and Packing Materials (net of Gain / (Loss) on cancelled derivative contracts): For terms of transaction

Purchases from related parties are made in the ordinary course of business on an arm's length basis, consistent with terms available from third parties. Prices, discounts, and commercial terms are mutually negotiated and benchmarked against comparable transactions, including similar purchases from non-related vendors and sales transactions undertaken by the counterparties with unrelated parties. The Company also considers prevailing market conditions, volume, and nature of goods while determining these terms.

For terms of balance

Trade payables are unsecured, interest-free, and settled in cash, with no guarantees or security provided. Outstanding amounts are generally payable within 30-60 days from the reporting date.

c) Management Support & Other Services: The Company has availed management support and other services from its related parties and these transactions are governed by service arrangements that define the scope of services and applicable terms.The Company mutually negotiates and agrees the price and payment terms with the related parties by benchmarking the same to the services rendered to non-related parties entered into by the counter-party. Payments are made as per agreed terms under the respective arrangements.

d) Loan Given: The Company has extended unsecured loans to its subsidiary andjoint venturesfor general corporate purposes. These loans carry an interest rate of 9.5% per annum and are repayable within a period of two years.

As at 31 March 2026, the Company has recognised an impairment loss on loans due from related parties amounting to ' 11.91 Crores (31 March 2025: ' 11.91 Crores).

e) Other Services :

i) Freight and Forwarding charges: During the current as well as in previous year, the Company has availed these services from its fellow subsidiaries and other entities. The service agreement included payment terms requiring the Company to make payment within 30 to 60 days from the date of invoice. The Company mutually negotiates and agrees sales price, discount and payment terms with the related parties by benchmarking the same to transactions with non-related parties for similar nature of transactions.

ii) Port and other Storage Charges: The Company has availed these services from related parties under service agreements. Pricing, discounts, and terms are mutually agreed and benchmarked with similar transactions involving non-related parties to ensure arm's length basis. Payments are typically made within 30-60 days from the invoice date. These transactions are conducted in the ordinary course of business.

iii) Lease Rental Expenses - short term leases: The Company has incurred lease rental expenses in respect of short-term leases from its related parties under Lease agreement. These arrangements are governed by lease agreements specifying defined lease tenures and payment terms. Lease rentals and related terms are mutually agreed with the related parties and benchmarked against comparable market rates for similar properties to ensure that they are at arm's length.

f) Purchase of Property, Plant and Equipment (including advance): Purchase of assets was made on the same terms as applicable to third parties in an arm's length transaction and in the ordinary course of business. The Company mutually negotiated and agree purchase price and payment terms by benchmarking the same to sale transactions with non-related parties entered into by the counter-party and similar purchase transactions entered into by the Company with the other non-related parties.

g) Outstanding balances at the year-end are unsecured, interest-free, except loans given to related parties and Investments in Equity Shares of related parties and are generally settled in cash, except in the case of advances towards purchase for goods and services. No guarantee or other security has been received / provided against these receivables / payables.

h) Remuneration to Key managerial personnel: The amounts disclosed in the financial statements are the amounts recognised as an expense during the financial year related to short-term employment benefits / remuneration paid / payable to Key managerial Personnel of the Company. The amounts do not include expense, if any, recognised toward post-employment benefits and other long-term benefits of key managerial personnel. Such expenses are measured based on an actuarial valuation done for the Company as a whole. Hence, amounts attributable to KMPs are not separately determinable. The management represents such amounts in respect of KMP are not expected to be material.

i) For the year ended March 31, 2026, the Company has not recorded any impairment of receivables relating to amounts owed by related parties (previous year Nil). This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates. As at March 31, 2026 and March 31, 2025 - Impairment allowances on Equity Investments in joint venture - ' 25.01 Crores (previous year ' 25.01 Crores) respectively.

j) Pursuant to the change in relationship post November 2025 (refer note 16), disclosures relating to the transactions with Adani Enterprises Limited and its fellow entities have been made upto November 2025. No disclosures for balances have been made for the subsequent period as no related party relationship existed thereafter.

k) All above figures are net of taxes wherever applicable.

39 Exceptional Items

On 21 November 2025, the Central Government issued four separate notifications in the Official Gazette announcing implementation of four Labour Codes, viz., 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. These four codes replace and consolidate 29 existing labour laws. Following the implementation of the four labour codes, the Central Government has pre-published the draft rules on 31 December 2025 under the respective Labour Codes, for public comment and the final rules are expected to be notified in due course. To ensure smooth implementation, the Ministry of Labour and Employment has also issued the Frequently Asked Questions (FAQs) on the four codes.

The four codes prescribe an inclusive definition of the term 'wages, which among other matters is relevant for determination of post-employment benefits including gratuity to all employees. In accordance with the definition, certain specified items forming part of remuneration are not included in the wages and these excluded items cannot exceed 50% of total remuneration. If there is an excess, then it is presumed that excess amount also forms part of salaries and wages.

The Company has assessed the impact of these changes on the basis of legal view obtained by the management and best information available till authorisation of the financial statements for issue. The Company has determined that these changes result in an increase in gratuity obligation and leave obligation of ' 16.29 Crores and ' 8.73 Crores, respectively. Considering the materiality and regulatory-driven, non-recurring nature of this change, the Company has presented increase in obligation as an expense under the head “Exceptional Items” in the statement of profit and loss for the year ended 31 March 2026. Also, pursuant to the change, the entire obligation toward accumulated leave has been classified as current and non-current liabilities in the balance sheet as at 31 March 2026 based on the actuarial valuation report. Considering that it is emerging topic and the finalisation of Central/ State Rules is still pending, the Company will continue monitoring changes and provide appropriate accounting effect as required based on future developments.

b) Defined Benefit Obligations (Gratuity):

The Company has a defined benefit gratuity plan (funded) and is governed by the Payment of Gratuity Act, 1972. Under the Act, which provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment. Vesting occurs on completion of 5 continuous year of services as per Indian Law. However, no vesting condition applies in case of death. The scheme is funded with Life Insurance Corporation of India (LIC) and SBI Life Insurance Company Limited in form of a qualifying insurance policy for future payment of gratuity to the employees.

Liability in respect of Gratuity is determined based on actuarial valuation done by actuary as at the balance sheet date. Each year, the management reviews the level of funding in the gratuity fund. Such review includes the asset - liability matching strategy. The management decides its contribution based on the results of this review. Current and non current classification has been done based on actuarial valuation report.

Aforesaid post-employment benefit plans typically expose the Company to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.

ix. Effect of Plan on Entity’s Future Cash Flows

a) Funding arrangements and Funding Policy

The Company has purchased an insurance policy to provide for payment of gratuity to the employees. Every year, the insurance company carries out a funding valuation based on the latest employee data provided by the Company. Any deficit in the assets arising as a result of such valuation is funded by the Company.

b) Expected Contribution during the next annual reporting year

The Company's best estimate of Contribution during the next year is ' 34.43 Crores (previous year ' 14.04 Crores).

c) Maturity Profile of Defined Benefit Obligation

The weighted average duration of the defined benefit plan obligation at the end of the reporting year is 8 years (previous year 8 years). The expected maturity analysis of gratuity benefits is as follows :

c) Each lease generally impose a restriction that unless there is a contractual right for the Company to sub lease the asset to another party, the right-of-use asset can only be used by the Company. The Company is prohibited from selling or pledging the underlying leased assets as security.

x. Risk Exposure and Asset Liability Matching

Through its defined benefit plan of Gratuity, the Company is exposed to its number of risks, viz. asset volatility, changes in return on assets, inflation risks and life expectancy. The Company has purchased insurance policy, which is a year-on-year cash accumulation plan in which the interest rate is declared on yearly basis and is guaranteed for a period of one year. The Insurance Company, as part of the policy rules, makes payment of all gratuity outgoes happening during the year (subject to sufficiency of funds under the policy). The policy, thus, mitigates the liquidity risk.

c) Compensated absences/ leaves

Other long term employee benefits comprise of compensated absences/leaves, which are recognised based on actuarial valuation. The actuarial liability for compensated absences as at the year ended 31^st March 2026 is ' 41.91 Crores (previous year ' 30.21 Crores). (refer note 20 & 26)

41 Leases As a Lesseei) Terms & conditions of Lease arrangements :

a) The Company's leasing arrangement are in nature of leases of factory land, warehousing facilities, off ce premises, plant and equipment and right of way of land. Lease arrangement for warehousing, office premise and plant & equipment are generally for the period ranging from 2 years to 10 years. Lease arrangement for factory land are generally ranging from 20 - 60 years and right of way of land are for the lease term for the period from 10 - 20 years. With the exception of short-term leases and leases of low-value underlying assets, each lease is reflected on the balance sheet as right-of-use assets and a lease liability. The Company's obligation under its leases are secured by the lessor's title to the leased assets.

b) The lease arrangements have extension / renewal / termination options exercisable by either parties which may make up assessment of lease term uncertain. While determining the lease term, all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option has been considered.

(i) The fair value of cash and cash equivalents, other bank balances, trade receivables, loans receivable, security deposits given and other financial assets, borrowings, trade payables, trade credits, option liabilities pertaining to equity instruments of business acquired and other financial assets and liabilities approximate their carrying amount largely due to the nature of these instruments. The Company's loans given and borrowings have been contracted at market rates of interest based on its credit rating. Accordingly, the carrying value of such loans approximate fair value.

(ii) The Company has not disclosed fair value of Lease Liability as per Ind AS 107.

(iii) I nvestment in equity shares of subsidiaries and joint ventures which are carried at cost and hence are not required to be disclosed as per Ind AS 107 “Financial Instruments Disclosures". Hence, the same have been excluded from the above table.

B) Fair Value Hierarchy

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level-1 : Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level-2 : Inputs are 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 are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on the assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

C) Financial Risk Management Objectives and Policies

The company's Financial Risk management is an integral part of how to plan and execute its business strategies. The Company's risk management activities are subject to the management direction and control under the framework of Risk Management Policy as approved by the Board of Directors of the Company. The Management ensures appropriate risk governance framework for the Company through appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company's policies and risk objectives. The Company's Financial Assets comprises mainly Investments, Loans given, Trade Receivables, Cash and Cash Equivalents, Other Bank Balances, Derivative Assets and Other Assets. The Company's Liabilities comprises mainly Borrowings, Trade Credits, Derivative Liabilities, Trade and other payable.

The Company's business activities are exposed to risks resulting from interest rate movements (Interest rate risk), Commodity price changes (Commodity risk) and exchange rate fluctuation (Currency risk) collectively referred as Market Risk, Credit Risk, Liquidity Risk and other price risks such as equity price risk. The Company's primary focus is to foresee unpredictability of financial market and seek to minimize potential adverse effects on its financial performance. The Company's senior management oversees the management of these risks. The Company's senior management is supported by a Risk Management Committee that advises on financial risks and the appropriate financial risk governance framework for the Company. The Risk management Committee provides assurance to the Company's senior management that the Company's financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company's policies and risk objectives. All derivative activities for risk management purposes are carried out by specialist teams that have the appropriate skills, experience and supervision. It is the Company's policy that no trading in derivatives for speculative purposes may be undertaken. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

i) 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 risk comprises three types of risk: interest rate risk, currency risk and other risk such as commodity price risk. Financial instruments aflected by market risk include loans and borrowings, deposits, debt, trade payables, derivative financial instruments, other financial assets and liabilities.

The sensitivity analysis in the following sections relate to the position as at 31^st March 2026 and 31^st March 2025.

The sensitivity analysis have been prepared on the basis that the amount of net debt, the ratio of fixed to floating interest rates of the debt and derivatives and the proportion of financial instruments in foreign currencies are all constant and on the basis of hedge designations in place at 31^st March 2026.

The analysis exclude the impact of movements in market variables on the carrying values of gratuity and other postretirement obligations and provisions.

The following assumptions have been made in calculating the sensitivity analyses:

> The sensitivity of the relevant profit or loss item is the eflect of the assumed changes in respective market risks. This is based on the financial assets and financial liabilities held at 31^st March2026 and 31^st March 2025 including the eflect of hedge accounting.

> The sensitivity of equity is calculated by considering the eflect of any associated cash flow hedges at 31^st March 2026 for the eflects of the assumed changes of the underlying risk.

Commodity risk

The Company is aflected by the price volatility of its key raw materials for production of key finished goods in Edible Oils, Food & FMCG and Industry Essential products. Prices of key raw materials and finished goods fluctuates is in line with changes in prices of the underlying agriculture commodities and demand / supply factors.

The price of agriculture commodities are subject to fluctuations due to factors such as weather, government policies, change in global demand and production of similar and competitive crops. Financial Assets / Liabilities aflected due to commodity price risk are the value of company's open sale and purchase commitments and inventories of raw materials and finished goods. To the extent that its open sales and purchase commitments do not match at the end of each business day, the company is subjected to price fluctuations in the commodities market.

While the company is exposed to fluctuations in agricultural commodities prices, its policy is to mitigate its risks arising from such fluctuations by hedging its purchases and inventories either through direct sale of similar commodity or through futures contracts on the commodity exchanges. Further, the Company also enters into firm commitment contract of sale / purchase of commodity to manage overall risk exposure and to compensate against the commodity price risk exposure. The management of the Company takes into consideration both firm commitment and contracts entered on exchanges to mitigate overall risk arising out of commodity price fluctuation.

In the course of hedging its purchases either through direct sale or through futures contracts, the company may also be exposed to the inherent risk associated with trading activities conducted by its personnel. The Company has a robust framework and governance mechanism in place to ensure the price volatility and minimize the risk exposure.

The company evaluates exchange rate exposure arising from foreign currency transactions and company follows established risk management policies including the use of derivatives like foreign exchange forward and future contracts to hedge exposure to foreign currency risks. The Company manages its foreign currency risk by hedging transactions that are expected to occur within a maximum 12-months period for hedges of forecasted sales and purchases.

When a derivative is entered into for the purpose of being a hedge, the Company negotiates the terms of those derivatives to match the terms of the hedged exposure. For hedges of forecast transactions, the derivatives cover the period of exposure from the point the cash flows of the transactions are forecasted up to the point of settlement of the resulting receivable or payable that is denominated in the foreign currency.

Other Financial Assets

The Company expose to credit risk exposure in cash and cash equivalent, term deposits with banks, investment in liquid mutual fund, derivatives with banks, commodity exchanges and OTC markets. The credit risk in financial assets other than trade receivables are managed by the Company's treasury team and trading team in accordance with the Company's risk management policy. Cash and cash equivalents and Bank deposits are placed with banks having good reputation, good past track record and high quality credit rating.

With respect of investments in money market / liquid mutual funds, the Company limits its exposure to credit risk by investing with counter parties having good credit rating. Further, financial assets are written off when there is no reasonable expectation of recovery such as amount provided for overdue loans and other financial assets on account of increase in credit risk of counter party assessed on a case to case basis.

Also, with respect to derivatives, the Company entered into trade based on credit worthiness of the counter parties. The credit worthiness of such counter parties is evaluated by the management on an on-going basis and is considered to be good.

In respect of credit risk exposure in financial assets other than trade receivables, the Company doesn't expect any material losses from non-performance by the counter parties apart from those already provided in financial statement and does not have any risk significant concentration of exposure to specific party, country or industry.

Trade Receivables

Credit risk on receivables is limited as almost majority of credit sales are against security deposits, advances, cheques and guarantees of banks of national standing. Moreover, given the diverse nature of the Company's businesses trade receivables are spread over a number of customers with no significant concentration of credit risk.

Receivables are deemed to be past due or impaired with reference to the Company's normal terms and conditions of business. These terms and conditions are determined on a case to case basis with reference to the customer's credit quality and prevailing market conditions. Receivables that are classified as 'past due' are those that have not been settled within the terms and conditions that have been agreed with that customer.

The credit quality of the Company's customers is monitored on an ongoing basis and assessed for impairment where indicators of such impairment exist. The solvency of the debtor and their ability to repay the receivable is considered in assessing receivables for impairment. Where receivables have been impaired, the Company actively seeks to recover the amounts in question and enforce compliance with credit terms. Generally trade receivables are considered credit impaired if past due for more than 1 year. The maximum exposure to credit risks at reporting date is the carrying value of trade receivable as disclosed in Note-10.

D) Capital Management

For the purpose of the Company's capital management, capital includes issued capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

The Company manage its capital structure and makes adjustments in light of changes in economic conditions and requirements of the financial covenants. To maintain or adjust the capital structure, the Company may return capital to shareholders or issue

Management monitors the return on capital, as well as the level of dividends to equity shareholders. In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. There have been no breaches in the financial covenants of any interest bearing loans and borrowings in the current year. No changes were made in the objectives, policies or processes for managing capital during the year ended 31^st March, 2026 and 31^st March, 2025.

48 Impairment Assessmenta) Impairment Testing of Intangible Assets with Indefinite Useful Life - Brand

The Company has acquired brand 'Kohinoor, Charminar and Trophy' in FY'2022-23 and recognised as an intangible asset with an indefinite useful life. As at the reporting date, the carrying amount of the brand is ' 126.23 Crores (previous year: ' 126.23 Crores).

Assessment of Useful Life

The brand has been assessed to have an indefinite useful life based on an analysis of all relevant factors, including:

• The strength of the brand in the market;

• Expected usage of the brand by the Company;

• No foreseeable limit to the period over which the brand is expected to generate net cash inflows;

• Historical performance and brand recognition.

The useful life is reviewed annually to determine whether the assessment continues to be supportable.

Impairment Testing

As required under Ind AS 36 - Impairment of Assets, intangible assets with indefinite useful lives are tested for impairment annually and whenever there is an indication that the asset may be impaired. An impairment test was conducted as at 31^st March, 2026 and as at 31^st March, 2025 based on a valuation report issued by an independent external valuer, engaged by the management. The brand is allocated to the Food & FMCG Segment - Rice CGU marketed under the 'Brand Name -Kohinoor, Trophy and Charminar' for impairment testing.

Valuation Methodology

The recoverable amount of the brand has been determined using the Relief-from-Royalty method under the Income Approach, which is based on the estimated future royalty savings attributable to ownership of the brand.

Key assumptions used in the valuation are as follows:

• Royalty rate: 2.90% (previous year: 2.80%)

• Forecast period: 6 years (previous year: 5 years)

• Revenue growth rate: 8% - 20% (previous year: 12% - 20%) per annum (based on management-approved forecasts)

• Discount rate (post-tax): 16% (WACC) (previous year: 14.71%)

• Terminal growth rate: 5% (Previous year - 3%)

These assumptions reflect management's best estimates of future economic conditions.

Results of Impairment Testing

Based on the impairment assessment performed as of 31^st March, 2026, the recoverable amount of the brand exceeds its carrying amount, and no impairment loss has been recognised.

Sensitivity Analysis

The Company has performed a sensitivity analysis on key assumptions. A reasonably possible change in key assumptions (e.g., a 1% decrease in Revenue growth rate and 0.25% reduction in Royalty Rate or 1% increase in discount rate) would not result in impairment of the CGU.

The recoverable amount of the CGU exceeds its carrying amount by '37.07 crore as at March 31, 2026. Management believes that no reasonably possible change in key assumptions would cause the carrying amount to exceed the recoverable amount.

b) Impairment Assessment of Investment in Subsidiary

The Company holds an investment in its wholly-owned subsidiary, AWL Agri Holdings Pte. Ltd (formally known as “Adani Wilmar Pte. Ltd") (Intermediate Parent) which is investing company and have wholly-owned subsidiary in Bangladesh -Bangladesh Edible Oil Limited and its subsidiary (Operating Subsidiary). Carrying value of the Company's Investment in Intermediate Parent is ' 179.16 Crores as at 31^st March 2026 (previous year: ' 179.16 Crores), carried at cost in accordance with Ind AS 27 - Separate Financial Statements.

Impairment Indicators

The carrying amount of the Company's investments are assessed at the end of each reporting period to determine whether there is any indication that an asset may be impaired. If any such indication exists, then the Company estimates the recoverable amount of the asset.

As per the management, the key factors contributing for losses in BEOL are macroeconomic and industry specific headwinds primarily due to currency crisis in Bangladesh coupled with government intervention in pricing of edible oils during the past two years.

Impairment Assessment

I n response to these indicators, an independent external valuer was engaged to determine the recoverable amount of the investment in intermediate holding company and its subsidiary in Bangladesh, based on the Equity Value approach using a Discounted Cash Flow (DCF) model.

Outcome of the Impairment Assessment and Valuation:

Based on Valuation carried out independent valuer Recoverable amount (Equity value) of Investments in subsidiaries : ' 289.58 Crores (previous year ' 362.01 Crores) against Carrying amount of investment: ' 179.16 Crores (previous year ' 179.16 Crores)

Based on the impairment assessment performed as of 31^st March, 2026, the recoverable amount exceeds its carrying amount, and no impairment loss has been recognised.

Sensitivity Analysis

Management has performed a sensitivity analysis on key assumptions. A reasonably possible change in key assumptions (e.g., a 1% decrease in Terminal growth rate and 10% reduction in EBITDA Margin or 1% increase in discount rate) would/would not result in impairment of the investment in subsidiary.

The recoverable amount of the investment in subsidiary exceeds its carrying amount by ' 110.A2 Crores (previous year ' 182.85 Crores) as at March 31, 2026. Management believes that no reasonably possible change in key assumptions would cause the carrying amount to exceed the recoverable amount.

However, the valuation is sensitive to certain key assumptions. The table below summarises the impact of reasonably possible changes in those assumptions on Recoverable Amount of Investments, individually assessed:

49 Issue of shares

During the year ended March 31, 2022, the Company had completed its initial public offer (“IPO") of 15,67,29,7A5 equity shares of face value of ' 1 each at an issue price of ' 230 per share (including securities premium of ' 229 per share). The Company had received an amount of ' 3,506.02 Crores from IPO net of discount offered to eligible employees and actual IPO expenses.

51 Share Based PaymentsA. Employee Stock Option Plan

Pursuant to the applicable requirements of the erstwhile Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 (“the SEBI guidelines”), the Company had framed and instituted Employee Stock Option Plan to attract, retain, motivate and reward its employees and to enable them to participate in the growth, development and success of the Company.

B. ESOP 2024 scheme:

During the previous year, the Company formulated an Employee Stock Option Scheme titled “AWL - Employee Stock Option Scheme 2024” (“ESOP 2024” or the “Scheme”) in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Under ESOP 2024, stock options are granted to eligible employees of the Company, including senior executives and key managerial personnel, in line with the eligibility criteria prescribed under the Scheme.

The Scheme was approved by the shareholders through a Special Resolution passed via Postal Ballot on November 29, 2024, and subsequently by the Nomination and Remuneration Committee on December 03 and December 04, 2024. Pursuant to the approval of the Scheme, stock options were granted in Tranche 1 and Tranche 2, with respective grant dates of December 04, 2024 and December 24, 2025.

As per the terms of the Scheme, the options vest over a period of four (4) years from the respective dates of grant, on a graded basis, subject to the employee's continued employment with the Company, its subsidiary(ies), or associate company(ies), as applicable. Vested options may be exercised within a maximum period of four (4) years from the respective date of vesting.

The fair value of the stock options granted under ESOP 2024 has been determined on the respective grant dates using the Black-Scholes Option Pricing Model, taking into account the terms and conditions of the grants. The contractual life of the options ranges from six (6) to eight (8) years, with a weighted average contractual life of seven (7) years. The Scheme does not provide for any cash settlement alternatives.

ESOP 2024 envisages an AWL Employee Welfare Trust (“ESOP Trust”) which is authorised for secondary acquisition. During the year, ESOP trust has bought 19,35,804 shares (March 31, 2025: 4,395,610 shares) from open market which is held by the ESOP Trust as at March 31, 2026.

52 Other Notesa) Other Statutory Information

(i) No proceedings has been initiated or are pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

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

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

(v) The Company have 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 person 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

(vi) The Company have 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.

(vii) The Company does not have any 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);

(viii) The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956;

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

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

(xi) Quarterly returns or statements of current assets filed by the Company are in agreement with the books of accounts.

b) Regulatory Updates :

Standards notified but not yet effective

The amendments to the Indian Accounting Standards (Ind AS) that have been notified by the Ministry of Corporate Affairs (MCA) but are not yet effective up to the date of issuance of the Company's financial statements are disclosed below. The Company will apply these amendments when they become effective.

(i) Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants

Under the Ind AS 1 currently applicable, if an entity breaches a covenant of a long term loan arrangement on or before the reporting date and the breach results in the liability becoming payable on demand, the liability may continue to be classified as non current if the lender grants a waiver of the breach after the reporting date but before the financial statements are approved for issue.

Pursuant to the amendments to Ind AS 1 notified by the MCA and applicable from FY 2026 27, the right to classify a liability as non current will depend on whether the entity has, at the reporting date, a right to defer settlement of the liability for at least twelve months after the reporting date. Consequently:

> A breach of a covenant, whether material or immaterial, occurring on or before the reporting date will result in classification of the related liability as current; and

> A liability may continue to be classified as non-current only if a waiver of the breach is obtained from the lender on or before the reporting date and the lender has agreed not to demand repayment for at least twelve months thereafter.

The amendments are required to be applied retrospectively in accordance with Ind AS 8 and are effective for annual reporting periods beginning on or after April 01, 2026.

Based on the Company's assessment, there were no breaches of loan covenants as at March 31, 2026 or March 31, 2025. Accordingly, management does not expect the adoption of these amendments to have a material impact on the Company's financial statements.

c) Daily Data back up and Audit Trail Compliance :

Data Backup Compliance:

The Company is using an accounting ERP system wherein it has a defined process of maintaining full back up of books of account and other relevant books and papers electronically on regular basis in a server physically located in India.

The backup of relevant books and papers are retained in the same format in which they are originally generated, sent or received and the information contained in the electronic records are complete, unaltered or unmodified. Further, the Company also has proper system for storage, retrieval, display or printout of the electronic records and such records are not disposed of and maintained properly by the Company as required by law.

Audit Trail Compliance:

The Company has used accounting software SAP HANA and SAP GRC for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software, except that audit trail feature is not enabled at the database level insofar as it relates to SAP HANA accounting software. Further no instance of audit trail feature being tampered with was noted in respect of accounting software(s) where the audit trail has been enabled.

Additionally, the audit trail of prior year(s) has been preserved by the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective years.

The Company has used an accounting software Transport EG (TEG) for Freight Operations which is operated by a third-party software service provider, for maintaining its books of account. Management is not in possession of Service Organisation Controls report to determine whether audit trail feature of the said software was enabled and operated throughout the year for all relevant transactions recorded in the software or whether there were any instances of the audit trail feature being tampered with, in respect of an accounting software(s) where the audit trail has been enabled. Additionally, in the absence of Service Organisation Controls report with respect to accounting software TEG, we are unable to assess whether the audit trail has been preserved as per the statutory requirements for record retention

53 Based on review of commonly prevailing practices and to ensure better presentation, management has regrouped and rearranged the following previous year's figures to confirm to current year's classification:

1. Bank deposits of ' 1302.59 Crores original maturity of more than 12 months has been regrouped from “Bank balance other than Cash and Cash Equivalents” to “Other Financial Assets".

2. GST refund receivables of ' 83.75 Crores regrouped from Other financial assets to Other current assets. The management believes that such reclassification does not have any material impact on the information presented in the balance sheet.