Information about the Company's exposure to credit risk, market risk and fair value measurement is included in Note 30.

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

Trade receivables are pledged against borrowings of the Company (Refer note 13A and 13B).

The above secured trade receivables include receivables considered good in respect of which the Company holds guarantees from banks amounting to ' Nil (March 31, 2025: ' Nil).

The expected credit loss allowance (ECL) is based on the ageing of the days the receivables are due and the rates as per the provision matrix. The ageing of the receivables is as follows:

There were no unbilled trade receivables as at March 31, 2026 and as at March 31, 2025, hence the same is not disclosed in the ageing breakup.

The Company always measures the loss allowance for trade receivables at an amount equal to lifetime ECL. The expected credit losses on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date. The Company has recognised a loss allowance of 100 per cent against all receivables over three years past due because historical experience has indicated that these receivables are generally not recoverable.

As per simplified approach, the Company makes provision of expected credit losses on trade receivables using a provision matrix to mitigate the risk of default payments and makes appropriate provision at each reporting date wherever outstanding is for longer period and involves higher risk. The Company writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery.

The following table details the risk profile of trade receivables based on the Company’s provision matrix. As the Company’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished between the Company’s different customer segments.

FY 2025-26:

(b) Rights, preferences and restrictions attached to the equity shares:

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company’s residual assets on winding up. The equity shareholders are entitled to receive dividend as declared from time to time, subject to preferential right of preference shareholders to payment of dividend if issued. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to the share of paid-up equity share capital of the Company. Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable has not been paid. Failure to pay any amount called up on shares may lead to their forfeiture. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts, in proportion to the number of equity shares held.

Nature of reserves:

(a) Deemed investment in equity

Deemed investment in equity represents the gain on account of corporate guarantee given by Sagar Cements Limited (Holding Company).

(b) Securities premium

Amounts received on issue of shares in excess of the par value has been classified as securities premium. The utilisation of securities premium is governed by the Section 52 of the Companies Act, 2013.

(c) Capital redemption reserve

The Company had created Capital Redemption Reserve out of the profits for redemption of Preference Shares. This reserve may be utilized for the specified purpose in accordance with the provisions of the Act.

(d) Capital reserve

Capital reserve created with respect to cancellation of equity shares and written off of debt as per the resolution plan.

(e) Retained earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends paid to shareholders. Retained earnings is a free reserve available to the Company.

(f) Remeasurements of the net defined benefits plan

Remeasurements of the net defined benefits plan reserve comprises the cumulative net gains/ losses on actuarial valuation of post-employment obligations.

1. This term loan is secured by first pari-passu charge on all the immovable fixed assets (present and future) and all the movable fixed assets (present and future) by way of equitable mortgage, and first charge on all the rights, title, interest, benefits, claims and demands whatsoever of the Company in the Project documents, and lease holding rights on mining lands and first charge on all the insurance contracts/ insurance proceeds of fixed assets and pledged 2,18,90,883 equity shares of the Company in favour of Axis Trustee Services Limited by Sagar Cements Limited and corporate guarantee of Sagar Cements Limited.

2. The Company has not made defaults in repayment of principal and interest on the above loans. The Company has used the borrowings for the purposes for which it was taken.

3. Information about the Company’s exposure to liquidity risk, market risk and fair value measurement is included in Note 30.

1. The Company had availed unsecured loan of ' 2,000 from Sagar Cements Limited, Holding Company for maintaining a Debt Service Reserve Account as a precondition in connection with their availing of a term loan of ' 66,500 from State Bank of India.

2. The Company had availed unsecured loan of ' 4,000 from Sagar Cements Limited, Holding Company to meet its capital expenditure and other general corporate purposes.

3. The Company had availed unsecured loan of ' 6,000 from Sagar Cements Limited, Holding Company towards capital expenditure for part funding of capacity expansion and modernization of existing manufacturing facility at “Sri Durga Cement Works”, Dachepalli, Palnadu district, Andhra Pradesh, total project cost of which is estimated at ' 47,069.

4. The Company had availed unsecured loan of ' 2,500 from R V Consulting Services Private Limited for the purpose of the business of the Company.

* Interest will be due for the payment at the end of the loan term.

Notes:

1. The Company had availed unsecured loan of ' 7,000 from Savyasachi Constructions Private Limited to meet its capital expenditure for the modernization/ expansion project and other general corporate purposes.

Notes (iii):

For the year ended March 31,2026, there has been a deviation with respect to certain financial ratios of the Company in comparison with the prescribed limits mentioned in the loan sanctioned letters disclosed under non current borrowings. Prior to the reporting date, the management has however obtained a waiver from the lenders on compliance with such financial ratios and that the existing repayment schedules as per the sanction terms would continue. Accordingly, borrowings continue to be classified in accordance with the terms of the repayment schedule agreed with the lenders.

1. The Company has availed cash credit facilities from State Bank of India. This facility is secured by first pari-passu charge against all current assets, present and future, and by second pari-passu charge on movable property, plant and equipment and negative lien on immovable property, plant and equipment of the Company, present and future, and corporate guarantee of Sagar Cements Limited. The loans are repayable on demand and carries interest @ 10.85% p.a. to 11.25% p.a. (2024-25: 9.35% p.a. to 11.25% pa.).

2. The Company has availed cash credit facilities from Yes Bank of India. This facility is secured by first pari-passu charge against all current assets, present and future, and by second pari-passu charge on movable property, plant and equipment and negative lien on immovable property, plant and equipment of the Company, present and future, and fisrt pari pasu charge by way of pledge on equity shares of 2,18,90,883 shares held by Sagar Cements Limited in Andhra Cements Limited. The loans are repayable on demand and carries interest @ 9.05% p.a. to 10.80% p.a. (2024-25: 10.55% p.a. to 10.75% p.a.).

3. The Company has used the borrowings for the purposes for which it was taken.

4. The quarterly returns of current assets filed by the Company with banks are in agreement with the books of account.

1. Includes ' 1,868 (March 31, 2025: ' 846) interest accrued but not due on unsecured loan taken from related party (Refer note 33).

2. The Company participates in a supplier finance arrangement under which its suppliers may elect to receive early payment of their invoices from a bank. Under the arrangement, the bank agrees to pay amounts due to participating suppliers in respect of invoices owed by the Company and the Company repays the bank at a later date.

These arrangements provide the Company with extended payment terms, or the suppliers with early payment terms, compared to the related invoice payment due date.

From the Company’s perspective, the arrangement extends payment terms beyond the normal terms agreed with other suppliers that are not participating and requires the Company to incur additional interest towards the bank on the amounts due to the suppliers. The Company therefore includes the amounts subject to the arrangement within other financial liability.

* The Company applied transitional relief available under Supplier Finance Arrangements (Amendments to Ind AS 7 and Ind AS 107) and has not provided comparative information in the first year of adoption.

There were no significant non-cash changes in the carrying amount of financial liabilities subject to supplier finance arrangements.

4. Information about the Company's exposure to liquidity risk, market risk and fair value measurement is included in Note 30.

Provision for land restoration costs

The activities of the Company involve mining of land taken under lease. In terms of relevant statutes, the mining areas would require restoration at the end of the mining lease. The future restoration expenses are affected by a number of uncertainties, such as, technology, timing etc. Because of the long-term nature of the liability, the greatest uncertainty in estimating the provision is the costs that will be incurred. In particular, the Company has assumed that the mine will be restored using technology and materials that are currently available. The provision has been calculated using a discount rate of 10.00% p.a. (March 31,2025: 10.00% p.a), which is the risk-free rate. As per the requirement of Ind AS 37, the management has estimated such future expenses on a best judgment basis and provision thereof has been made in the accounts at their present value. The table below gives information about movement in land restoration cost provisions.

(i) The Company is carrying an amount of ' 32,357 (March 31, 2025: ' 28,324) as deferred tax assets on carry forward of business losses, unused tax credits and unabsorbed depreciation.

The ultimate realisation of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Based on the projections for future taxable income over the periods, the Company has recognised deferred tax assets as there is convincing evidence that sufficient taxable profit will be available against which the business loss, unused tax credits and unabsorbed depreciation can be utilised by the entity. It is expected that any reversals of the deferred tax liability would be offset against the reversal of the deferred tax assets.

(ii) During the year, the Company has exercised the option to be taxed under Section 115BAA of the Income-tax Act, 1961. Accordingly, deferred tax assets and liabilities have been remeasured using the tax rates expected to apply in the periods in which the temporary differences are anticipated to reverse. The consequential impact arising from such remeasurement has been recognised in the Statement of Profit and Loss.

28. Contingent liabilities and capital commitments a) Contingent Liabilities:

Claims / debts against the Company upto the closing date which are addressed under the NCLT approved resolution plan are not included in contingent liabilities though many of such claims / debts may be pending for disposal at various judicial forums. As per clause 3.3.13 of the aforesaid resolution plan, these liabilities stands extinguished. Accordingly, the management has assessed that the possibility of outflow of resources embodying economic benefits with respect to such claims / debts is remote.

All direct and indirect tax liabilities relating to assessments of earlier year upto the closing date stand extinguished as per the NCLT approved resolution plan. Further, the implementation of the resolution plan does not have any effect over claims or receivables owed to the Company. Accordingly, the Company has assessed that any receivables due to the Company, evaluated based on merits of underlying litigations, from various governmental agencies continues to subsist.

The Company has no contingent liabilities as at March 31,2026 and as at March 31, 2025.

30. Financial Instruments:

The material accounting policies, including the criteria for recognition, the basis for measurement and the basis on which income and expenses are recognized, in respect of each class of financial asset, financial liability and equity instrument are disclosed in Note 1(b)(xiv) to the financial statements.

(i) Capital Management

For the purpose of the Company’s capital management, capital (total equity) includes issued equity capital, securities premium and all other equity reserves attributable to the equity holders of the parent. The primary objective of the Company’s capital management is to maximise the shareholder value. Management monitors the return on capital, as well as the level of dividends to ordinary shareholders. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using debt-equity ratio, which is total debt less cash and cash equivalents and other bank balances divided by total equity

Note: Debt comprises of current and non-current borrowings as disclosed in Note 13A and Note 13B.

In addition, the Company has financial covenants relating to the borrowing facilities that it has taken from the lenders to manage interest coverage service ratio, Debt to EBITDA, etc. which is maintained by the Company.

(ii) No interim or final dividends have been declared by the Company during the financial year ended March 31,2026 and March 31, 2025.

Financial instruments:

a) Classification of financial assets and liabilities

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include the fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value._

The Company has not disclosed the fair values of financial instruments such as trade receivables, loans, cash and cash equivalents, bank balances other than cash and cash equivalents, incentives receivable bank cash credits, payable for capital expenditure and trade payables, because their carrying amounts are a reasonable approximation of fair value.

* The amortised cost of long term borrowings with banks accounted using effective interest rate method are considered to be at their fair values. b) Fair value measurements

Set out above, is the comparison of the fair values of the financial assets and liabilities included at the amount at which the instrument could be exchanged in an orderly transaction in the principal (or most advantageous) market at measurement date under the current market condition regardless of whether that price is directly observable or estimated using other valuation techniques. The Company has established the following fair value hierarchy that categorises the values into 3 levels.

The inputs to valuation techniques used to measure fair value of financial instruments are:

Level 1: This hierarchy uses quoted (unadjusted) prices in active markets for identical assets or liabilities. The fair value of all securities which are traded in the stock exchanges is valued using the closing price or dealer quotations as at the reporting date. The are no investments as on March 31, 2026 and March 31, 2025.

Level 2: The fair value of financial instruments that are not traded in an active market (For example traded bonds, over the counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on company specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

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 was no transfer between level 1 and level 2 fair value measurement for the years ended March 31,2026 and March 31, 2025.

Financial risk management objectives:

The Company’s financial liabilities primarily comprise borrowings, lease liabilities, security deposits, and trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s financial assets primarily include trade and other receivables and cash and cash equivalents.

The Company is exposed to market risk, credit risk and liquidity risk.

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The board of directors has established the risk management committee, which is responsible for developing and monitoring the Company’s risk management policies. The committee reports regularly to the board of directors on its activities.

The Company has a Risk management policy, and its management is supported by a Risk management committee that advises on risks and the appropriate financial risk governance framework for the Company. The Risk management committee provides assurance to the Company’s management that the Company’s 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. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

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: currency risk and interest rate risk. Financial instruments affected by market risk include trade payables, trade receivables, borrowings, etc.

(i) Interest rate risk:

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 rates.

The Company’s exposure to the risk of changes in market rates relates primarily to the Company’s non-current debt obligations with floating interest rates.

Moreover, the short-term borrowings of the Company do not have a significant fair value or cash flow interest rate risk due to their short tenure.

As the Company does not have exposure to any floating-interest bearing assets, or any significant long-term fixed-interest bearing assets, its interest income and related cash inflows are not affected by changes in market interest rates.

The Company constantly monitors the credit markets and rebalances its financing strategies to achieve an optimal maturity profile and financing cost. The Company has not used any interest rate derivatives.

'ii) Foreign Currency risk:

The functional currency of Company is primarily the local currency in which it operates. The currencies in which these transactions are primarily denominated are Indian Rupees. Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency, which fluctuate due to changes in foreign exchange rates. The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the import of fuels (i.e. Coal) & spare parts and capital expenditure if any, 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.

Foreign currency sensitivity on unhedged exposure:

A reasonably possible strengthening (weakening) of the Indian Rupee against US dollars at March 31 would have affected the measurement of financial instruments denominated in US dollars and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. For 5% increase or decrease in foreign exchange rates will have the following impact on profit before tax and equity, net of tax.

Credit risk:

Credit risk arises when a customer or counterparty does not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing / investing activities, including deposits with banks and investments in equity securities. The Company has no significant concentration of credit risk with any counterparty. Credit exposure is controlled by counterparty limits that are reviewed and approved by the management.

Trade receivables: Customer credit risk is managed by the respective department subject to Company’s policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on individual credit limits as defined by the Company. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date on an individual basis. The calculation is based on historical data of credit losses.

One customer of the Company are contributing to 23% (March 31,2025: 9%) revenue of the Company.

Cash and cash equivalents and deposits with banks: Credit Risk on cash and cash equivalent and term deposits is generally low as these are kept with banks who have been assigned high credit rating by international and domestic rating agencies. Investments of surplus funds are made only with Financial Institutions approved by Reserve Bank India. Balances with banks were not past due or impaired as at year end. Other than the details disclosed below, other financial assets are not past due and not impaired, there were no indications of default in repayment as at year end.

Security deposits: It consists of rent, electricity and other deposits. The Company does not expect any financial loss as the said deposits are given only to credible vendors/ service providers.

Credit Risk on Derivative Instruments is generally low as Company enters into the Derivative Contracts with the reputed Banks and Financial Institutions.

There are no investments as on March 31, 2026 and March 31,2025.

Liquidity risk:

Liquidity risk is the risk that the Company may encounter difficulty in meeting its obligations associated with financial liabilities as they fall due. The Company’s treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. The Company manages liquidity risk by maintaining adequate cash and cash equivalents, monitoring forecast and actual cash flows, and aligning the maturity profiles of financial assets and liabilities.

During the year ended March 31,2026, there were deviations in compliance with certain financial ratios, under the Company’s borrowing arrangements. These deviations did not result in any payment defaults. Prior to the reporting date, the Company has obtained appropriate waivers from its lenders for such noncompliances. Accordingly, the borrowings continue to be classified in accordance with their contractual terms of repayment.

The Management monitors the Company’s liquidity position on an ongoing basis and believes that the Company has adequate resources, including expected cash flows from operations and available credit facilities, to meet its financial obligations as they fall due.

Maturity profile of financial liabilities:

The table below summarises the maturity profile of the Company’s financial liabilities based on contractual undiscounted cash.

31. Gratuity and other post-employment benefit plans:

The employee benefit schemes are as under:

(ii) Defined contribution plan:

Provident Fund

The Company makes provident fund contributions which are defined contribution plans for qualifying employees. Under the scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. These contributions are made to the Fund administered and managed by the Government of India. The Company’s monthly contributions are charged to the Statement of Profit and Loss in the period they are incurred. Total expense recognized during the year aggregated ' 89 (2024-25: ' 85).

Employee State Insurance

The Company makes employee state insurance contributions which are defined contribution plans for qualifying employees. Under the scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. These contributions are made to the funds administered and managed by the Government of India. The Company’s monthly contributions are charged to the Statement of Profit and Loss in the period they are incurred. The total expense recognized during the year aggregated ' 1 (2024-25: ' 2).

(iii) Defined benefit plan:

Gratuity:

The Company has a defined retirement benefit gratuity plan. The gratuity plan is governed by the Code of Social Security, 2020. Under the Code of Social Security, 2020, employee who has completed five years of service is entitled to specific benefit. The scheme is funded with insurance companies in the form of qualifying insurance policy for employees. The Gruity plan is administered by the Life Insurance Corporation of India (LIC) through trust.

The defined benefit plan exposes the Company to actuarial risk such as longevity risk, currency risk, interest rate risk and market risk.

The following table sets out the funded status of the gratuity plan and the amounts recognized in the Company’s financial statements as per actuarial valuation as at March 31,2026 and March 31, 2025:

g) Sensitivity Analysis:

For presenting the sensitivities, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation presented under net defined liability. Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below.

i) Asset Liability matching strategy: The money contributed by the Company to the Gratuity fund to finance the liabilities of the plan has to be invested. The trustees of the plan have outsourced the investment management of the fund to an insurance Company. The insurance Company in turn manages these funds as per the mandate provided to them by the trustees and the asset allocation which is within the permissible limits prescribed in the insurance regulations. Due to the restrictions in the type of investments that can be held by the fund, it is not possible to explicitly follow an asset liability matching strategy. There is no compulsion on the part of the Company to fully refund the liability of the Plan. The Company’s philosophy is to fund these benefits based on its own liquidity and the level of underfunding of the plan.

32. Operating segments are components of the Company that engages in business activities from which it may earn revenues and incur expenses whose operating results are regularly reviewed by the Company’s Chief Operating Decision Maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance and for which discrete information is available. The management has considered that the Company has a single reportable segment based on nature of products, production process, regulatory environment, customers and distribution methods. Further, the Company is engaged in single product line of manufacturing and selling cement and its customers and non-current assets are located in India only.

During the year, the Company has received an unconditional support letter from the Holding Company.

34. Lease

The Company has lease contracts for various items of plant and machinery and buildings used in its operations with lease terms between 2 and 6 years. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. The Company is restricted from assigning and subleasing the leased assets.

The Company also has certain leases of buildings with lease terms of 12 months or less. The Company applies the ‘short-term lease’ recognition exemptions for these leases. There are no low-value or variable lease expenses for the Company.

For building leases, the Company has used an incremental borrowing rate determined based on its average borrowing cost adjusted for lease specific factors.

For certain plant and machinery leases, where the fair value or cost of the underlying asset and lease payment structure are available in the lease arrangement, the interest rate implicit in the lease has been determined and used for measurement of the lease liability.

point in time and revenue recognised upon satisfaction of the performance obligations which is typically upon dispatch/ delivery.

• Contract price is determined as per terms agreed with the customer adjusted for discounts and rebates as applicable.

• The amounts receivable from customers become due after expiry of credit period which on an average is less than 30 to 60 days. There is no significant financing component in any transaction with the customers.

• The Company does not provide performance warranty for products, therefore there is no liability towards performance warranty.

• Company’s contracts for the sale of goods are typically short term in nature, with a duration of less than one year. Accordingly, the Company has applied the practical expedient provided under Ind AS 115 and has not disclosed the transaction price allocated to remaining performance obligations.

(b) Disaggregation of Revenue:

The Company derives its revenue from contracts with customers for the transfer of

goods at a point in time.

The amount of revenue recognised during the year against the advance from customers outstanding at the beginning of the year is ' 2,855 (March 31, 2025: ' 358). There was no revenue recognised in the current reporting period that related to performance obligations that were satisfied in a prior year.

Notes:

1. The movement is on account of increase in operations during the financial year, which is coupled with increase in borrowings raised during the year.

41. On November 21, 2025, the Government of India notified 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 (collectively referred to as “the Labour Codes”), subsuming the existing labour laws. Further, the Ministry of Labour and Employment has notified the Rules under the said Codes on May 8, 2026.

The Company has assessed the potential impact of the aforesaid Labour Codes based on the provisions notified, the Rules framed thereunder, related clarifications and legal opinion obtained, in accordance with the guidance issued by the Institute of Chartered Accountants of India.

Based on such assessment, there is no incremental impact identified on the Company’s obligations towards gratuity and compensated absences as at the reporting date.

42. The Board of Directors of the Company in their meeting on March 30, 2026 has accorded inprinciple approval for the proposed merger of the Company with the Holding Company, Sagar Cements Limited, subject to necessary approval from the authorities concerned under section 230 and 232 of the Companies Act 2013.

43. Other statutory information

(i) The Company does not have any Benami property, nor any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The Company has not revalued its Property, plant and equipment (including right-of-use assets) and Intangible assets during the period.

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

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

(v) The Company has not advanced or loaned or invested funds (either from borrowed funds or share premium or any other sources or kind of funds) to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall:

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

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

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

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

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

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

(viii) The Company has not surrendered or disclosed any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

(ix) The requirements as stipulated by the provisions of Section 135 of the Companies Act, 2012 is not applicable to the Company.

45. As at March 31, 2026, the Company incurred a net loss of ' 6,716 for the year (March 31, 2025: ' 15,211) and had accumulated losses of ' 64,686. The Company also reported negative operating cash flows of 2,515 during the year. As at March 31,2026, the Company had a net current liability position of ' 9,521, with current liabilities of ' 28,454 exceeding current assets of ' 18,933. These events or conditions cast significant doubts on the Company’s ability to continue as a going concern.

Management has assessed the appropriateness of the going concern assumption after considering these indicators, future business plans, projected future operating cash flows, availability of undrawn bank credit facilities, existing cash and bank balances, continued financial support from the Holding Company in the form of corporate guarantees for bank borrowings, and the Holding Company’s unconditional support letter confirming its intention and ability to provide operational and financial support to the Company, as necessary, to enable it to continue its operations and meet its liabilities as and when they fall due in the normal course of its business for the foreseeable future.

Based on this assessment, the financial statements have been prepared on a going concern basis, with assets and liabilities recorded on the assumption that the Company will be able to realise its assets and discharge its liabilities in the normal course of business.

46. These financial statements were approved by the Company’s Board of Directors on May 13, 2026.