o. Provisions, contingent liabilities and
contingent assets

Provisions are recognised when the Company
has a present obligation (legal or constructive)
as a result of a past events and it is probable
that an outflow of resources embodying
economic benefits will be required to settle
the obligation and a reliable estimate can be
made of the amount of the obligation.

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

Contingent liability is disclosed in the case of:

• a present obligation arising from past
events, when it is not probable that an
outflow of resources will be required to
settle the obligation;

• a present obligation arising from

past events, when no reliable

estimate is possible

Provisions, contingent liabilities and

contingent assets are reviewed at each
balance sheet date.

p. Earnings per share

Basic earnings per equity share is
calculated by dividing the net profit for the
year attributable to equity shareholders by
weighted average number of equity shares
outstanding during the year.

For the purpose of calculating diluted
earnings per share, the net profit for the
year attributable to equity shareholders and
the weighted average numbers of shares
outstanding during the year are adjusted for
the effects of all dilutive potential equity share

q. Cash and cash equivalents

Cash and cash equivalent in the balance
sheet comprise cash at banks, on hand and
short-term deposits with an original maturity
of three months or less, which are subject to
an insignificant risk of changes in value.

For the purpose of the statement of cash flows,
cash and cash equivalents consist of cash
and short-term deposits, as defined above.

r. Financial instruments

A financial instrument is any contract that
gives rise to a financial asset of one entity
and a financial liability or equity instrument
of another entity.

a) Financial assets
Classification

The Company classifies financial
assets as subsequently measured at
amortised cost, fair value through other
comprehensive income or fair value
through profit or loss on the basis of
its business model for managing the
financial assets and the contractual
cash flows characteristics of the
financial asset.

Initial recognition and measurement

All financial assets are recognised
initially at fair value plus, in the case of
financial assets not recorded at fair value
through profit or loss, transaction costs
that are attributable to the acquisition
of the financial asset. However, Trade
Receivables that does not contain a
significant financial component are
measured at transaction price.

Subsequent measurement

For purposes of subsequent
measurement financial assets are
classified in below categories:

• Financial assets carried at
amortised cost

A financial asset is subsequently
measured at amortised cost if it is
held within a business model whose
objective is to hold the asset in order
to collect contractual cash flows and
the contractual terms of the financial
asset give rise on specified dates to
cash flows that are solely payments of
principal and interest on the principal
amount outstanding.

• Financial assets at fair value through
other comprehensive income

A financial asset is subsequently
measured at fair value through
other comprehensive income if it
is held within a business model
whose objective is achieved by both
collecting contractual cash flows
and selling financial assets and the
contractual terms of the financial
asset give rise on specified dates to
cash flows that are solely payments of
principal and interest on the principal
amount outstanding. The Company
has made an irrevocable election for

its investments which are classified
as equity instruments to present the
subsequent changes in fair value in
other comprehensive income based
on its business model.

• Financial assets at fair value
through profit or loss

A financial asset which is not classified
in any of the above categories are
subsequently fair valued through
profit or loss.

De-recognition

A financial asset is primarily
derecognised when the rights to
receive cash flows from the asset
have expired or the Company has
transferred its rights to receive cash
flows from the asset.

Impairment of financial assets

The Company assesses impairment
based on expected credit losses
(ECL) model for measurement and
recognition of impairment loss, the
calculation of which is based on
historical data, on the financial assets
that are trade receivables or contract
revenue receivables and all lease
receivables.

b) Financial liabilities
Classification

The Company classifies all financial
liabilities as subsequently measured
at amortised cost, except for financial
liabilities at fair value through profit
or loss. Such liabilities, including
derivatives that are liabilities, shall be
subsequently measured at fair value.

Initial recognition and measurement

All financial liabilities are recognised

initially at fair value and, in the case of
loans and borrowings and payables,
net of directly attributable transaction
costs. The Company's financial liabilities
include trade and other payables,
loans and borrowings including bank
overdrafts, and derivative financial
instruments.

Subsequent measurement

The measurement of financial liabilities
depends on their classification, as
described below:

• Financial liabilities at

amortised cost

After initial recognition, interest¬
bearing loans and borrowings are
subsequently measured at amortised
cost using the Effective Interest Rate
(EIR) method. Gains and losses are
recognised in profit or loss when the
liabilities are derecognised as well as
through the EIR amortisation process.

Amortised cost is calculated by
taking into account any discount or
premium on acquisition and fees or
costs that are an integral part of the
EIR. The EIR amortisation is included
as finance costs in the statement of
profit and loss.

• Financial liabilities at fair value
through profit or loss

Financial liabilities at fair value
through profit or loss include financial
liabilities held for trading and financial
liabilities designated upon initial
recognition as at fair value through
profit or loss. Financial liabilities
are classified as held for trading if
they are incurred for the purpose of
repurchasing in the near term. This
category also includes derivative

financial instruments entered
into by the Company that are not
designated as hedging instruments
in hedge relationships as defined by
Ind AS 109. Separated embedded
derivatives are also classified as held
for trading unless they are designated
as effective hedging instruments.

Gains or losses on liabilities held
for trading are recognised in the
statement of profit and loss.

De-recognition

A financial liability is derecognised
when the obligation under the liability
is discharged or cancelled or expires.
When an existing financial liability is
replaced by another from the same
lender on substantially different
terms, or the terms of an existing
liability are substantially modified,
such an exchange or modification is
treated as the derecognition of the
original liability and the recognition
of a new liability. The difference in
the respective carrying amounts
is recognised in the statement of
profit and loss.

c) Offsetting of financial instruments

Financial assets and financial liabilities
are offset and the net amount is
reported in the balance sheet if there
is a currently enforceable legal right to
offset the recognised amounts and there
is an intention to settle on a net basis, to
realize the assets and settle the liabilities
simultaneously

d) Derivative financial instruments

The Company uses derivative financial
instruments, such as forward currency
contracts, interest rate swaps, full
currency swaps and forward commodity

contracts, to hedge its foreign currency
risks, interest rate risks and commodity
price risks, respectively. Such derivative
financial instruments are initially
recognised at fair value on the date on
which a derivative contract is entered
into and are subsequently remeasured
at fair value. Derivatives are carried as
financial assets when the fair value is
positive and as financial liabilities when
the fair value is negative.

Any gains or losses arising from changes
in the fair value of derivatives are taken
directly to statement of profit and loss.

s. Impairment of non-financial assets

At each reporting date, the Company
assesses whether there is any indication
based on internal/external factors, that an
asset may be impaired. If any such indication
exists, the recoverable amount of the asset
or the cash generating unit is estimated. If
such recoverable amount of the asset or cash
generating unit to which the asset belongs is
less than its carrying amount. The carrying
amount is reduced to its recoverable amount
and the reduction is treated as an impairment
loss and is recognised in the statement of
profit and loss. If, at the reporting date there
is an indication that a previously assessed
impairment loss no longer exists, the
recoverable amount is reassessed and the
asset is reflected at the recoverable amount.
Impairment losses previously recognised
are accordingly reversed in the statement of
profit and loss.

t. Fair value measurement

The Company measures financial instruments
such as derivatives and certain investments,
at fair value at each balance sheet date.

All assets and liabilities for which fair value
is measured or disclosed in the financial

statements are categorized within the fair
value hierarchy, described as follows, based
on the lowest level input that is significant to
the fair value measurement as a whole:

• Level 1 — Quoted (unadjusted) market
prices in active markets for identical assets
or liabilities

• Level 2 — Valuation techniques for which
the lowest level input that is significant to
the fair value measurement is directly or
indirectly observable

• Level 3 — Valuation techniques for which the
lowest level input that is significant to the fair
value measurement is unobservable

• For assets and liabilities that are recognised
in the balance sheet on a recurring basis, the
Company determines whether transfers have
occurred between levels in the hierarchy by
re-assessing categorization (based on the
lowest level input that is significant to the fair
value measurement as a whole) at the end of
each reporting period.

For the purpose of fair value disclosures, the
Company has determined classes of assets
and liabilities on the basis of the nature,
characteristics and risks of the asset or
liability and the level of the fair value hierarchy
as explained above.

D. Significant accounting judgements, estimates
and assumptions

The preparation of the Company's financial
statements requires management to make
judgements, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets
and liabilities, and the accompanying disclosures,
and the disclosure of contingent liabilities at
the date of the financial statements. Estimates
and assumptions are continuously evaluated
and are based on management's experience
and other factors, including expectations of

future events that are believed to be reasonable
under the circumstances. Uncertainty about
these assumptions and estimates could result in
outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in
future periods.

In particular, the Company has identified the
following areas where significant judgements,
estimates and assumptions are required. Further
information on each of these areas and how
they impact the various accounting policies are
described below and also in the relevant notes to
the financial statements. Changes in estimates are
accounted for prospectively.

Judgements

In the process of applying the Company's
accounting policies, management has made
the following judgements, which have the most
significant effect on the amounts recognised in the
financial statements:

Contingencies

Contingent liabilities may arise from the ordinary
course of business in relation to claims against
the Company, including legal, contractor,
land access and other claims. By their nature,
contingencies will be resolved only when one or
more uncertain future events occur or fail to occur.
The assessment of the existence, and potential
quantum, of contingencies inherently involves the
exercise of significant judgments and the use of
estimates regarding the outcome of future events.

Estimates and assumptions

The key assumptions concerning the future and
other key sources of estimation uncertainty at
the reporting date that have a significant risk of
causing a material adjustment to the carrying
amounts of assets and liabilities within the
next financial year, are described below. The
Company based its assumptions and estimates
on parameters available when the standalone
financial statements were prepared. Existing

circumstances and assumptions about future
developments, however, may change due to
market change or circumstances arising beyond
the control of the Company. Such changes are
reflected in the assumptions when they occur.

(a) Impairment of non-financial assets

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

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

(b) Defined benefit plans

The cost of the defined benefit plan and other
post-employment benefits and the present
value of such obligation are determined using
actuarial valuations. An actuarial valuation
involves making various assumptions that
may differ from actual developments in the
future. These include the determination of the

discount rate, future salary increases, mortality
rates and future pension increases. Due to
the complexities involved in the valuation
and its long-term nature, a defined benefit
obligation is highly sensitive to changes
in these assumptions. All assumptions are
reviewed at each reporting date.

(c) Useful lives of depreciable/
amortisable assets

Management reviews its estimate of the
useful lives of depreciable/amortisable
assets at each reporting date, based on the
expected utility of the assets. Uncertainties
in these estimates relate to technical and
economic obsolescence that may change
the utility of assets.

(d) Fair value measurement of
financial instruments

When the fair values of financial assets and
financial liabilities recorded in the balance
sheet cannot be measured based on quoted
prices in active markets, their fair value
is measured using valuation techniques
including the DCF model. The inputs to
these models are taken from observable
markets where possible, but where this is not
feasible, a degree of judgment is required in
establishing fair values. Judgements include
considerations of inputs such as liquidity
risk, credit risk and volatility. Changes in
assumptions about these factors could affect
the reported fair value of financial instruments.

(e) Impairment of financial assets

The impairment provisions for financial
assets are based on assumptions about
risk of default and expected loss rates. The
Company uses judgments in making these
assumptions and selecting the inputs to the
impairment calculation, based on Company's
past history, existing market conditions as
well as forward looking estimates at the end
of each reporting period.

(f) Estimation of current tax and
deferred tax

Management judgement is required for the
calculation of provision of income- taxes
and deferred tax assets and liabilities. The
Company reviews at each balance sheet
date the carrying amount of deferred tax
assets. The factors used in estimates may
differ from actual outcome which could lead
to adjustment to the amounts reported in
these financial statements.

(g) Right-of-use assets and lease liability

The Company has exercised judgement
in determining the lease term as the no
cancellable term of the lease, together with
the impact of options to extend or terminate
the lease if it is reasonably certain to be
exercised. Where the rate implicit in the
lease is not readily available, an incremental
borrowing rate is applied. This incremental
borrowing rate reflects the rate of interest
that the lessee would have to pay to borrow
over a similar term, with a similar security,
the funds necessary to obtain an asset of a
similar nature and value to the right-of-use

asset in a similar economic environment.
Determination of the incremental borrowing
rate requires estimation.

(h) Share based payment transactions

The fair value of employee stock options is
measured using the Black-Scholes model.
Measurement inputs include share price on
grant date, exercise price of the instrument,
expected volatility (based on weighted
average historical volatility), expected life of
the instrument (based on expected exercise
behaviour), expected dividends, and the
risk free interest rate (based on government
bonds). The details of variables used are
given in note 43.

E. Recent pronouncements

Ministry of Corporate Affairs (“MCA”) notifies
new standards or amendments to the
existing standards under Companies (Indian
Accounting Standards) Rules as issued
from time to time. For the year ended 31
March 2025, MCA has not notified any new
standards or amendments to the existing
standards applicable to the Company.

C. Terms/rights attached to equity shares

The Company has only one class of equity share having face value of B 1 per share. The holder of the equity
shares is entitled to receive dividend as declared from time to time. The dividend proposed by the Board of
Directors is subject to approval of the shareholders in ensuing annual general meeting. The holder of share is
entitled to voting rights proportionate to their share holding.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive assets of
the Company remaining after settlement of all liabilities. The distribution will be in proportion to the number of
equity shares held by the shareholders.

The interim dividend for B 5 per share (previous year B 6 per share) has been distributed to the shareholders
on approval of Board of Directors. During the year, the final dividend for B 6 per share (previous year B 3 per
share) has been distributed to the shareholders of the Company.

D. Shares reserved for issue under options

Information relating to Kajaria Ceramics Employee Stock Option Plan, 2015, including details of options
issued, exercised and lapsed during the financial year and options outstanding at the end of the reporting
period, is set out in note 43.

F. Details of shares issued pursuant to contract without payment being received in cash, allotted as fully
paid up by way of bonus shares and brought back during the last 5 years for each class of shares

The Company has issued equity shares aggregating 334,290 (up to 31 March 2024 : 320,300) shares of
B 1 each fully paid during the financial years 2018-2019 to 2022-23 (2017-18 to 2021-22) on exercise of
option granted under the employee stock option plan wherein part consideration was received in form of
employee service.

Nil equity shares (31 March 2024: Nil) bought back pursuant to section 68, 69 and 70 of the Companies Act, 2013
The Company has issued Nil equity shares (31 March 2024 : Nil) as fully paid up bonus shares for which
entire consideration not received in cash.

Nature and purpose of reserves -

a) General reserve

General reserve is created from time to time by way of transfer of profits from retained earnings for
appropriation purposes. General reserve is created by a transfer from one component of equity to
another and is not an item of other comprehensive income.

b) Securities premium

This reserve is used to record the premium on issue of shares. The reserve will be utilised in accordance
with the provisions of the Companies Act, 2013.

c) Capital redemption reserve

This reserve was created on redemption of preference shares in the financial year 2001-02. The reserve
will be utilised in accordance with the provisions of the Companies Act, 2013.

d) Share options outstanding account

The reserve is used to recognise the grant date fair value of the options issued to employees under
Kajaria Ceramics Employee Stock Option Plan, 2015.

e) Capital reserve

The reserve was created on Scheme of Arrangement (the Scheme) between the Company and erstwhile
Kajaria Securities Private Limited ('KSPL') in financial year 2017-18 and erstwhile Kajaria Tiles Private
Limited ('KTPL') in the financial year 2021-22.

f) Retained earnings

Created from profit/loss of the Company, as adjusted for distributions to owners in the form of dividend
and transfer to other reserve.

36 Employee benefits

The Company has following post-employment benefit plans:

A) Defined contribution plan

Retirement benefits in the form of provident fund, superannuation fund and national pension scheme are
defined contribution schemes. Company has no obligation, other than the contribution payable to the
provident fund.

The Company's contribution to the provident fund is B11.59 crores (31 March 2024: B10.48 crores)

B) Defined benefit plans - Gratuity (funded)

The Company has defined benefit gratuity plan for its employees where annual contributions are
deposited to an insurer to provide gratuity benefits by taking a scheme of insurance, whereby these
contributions are transferred to the insurer. Gratuity is computed as 15 days last drawn salary, for every
completed year of service or part thereof in excess of 6 months and is payable on retirement / termination
/ resignation. The benefit vests on the employee completing 5 years of service. The Company makes
provision of such gratuity asset/liability in the books of accounts on the basis of actuarial valuation as
per the projected unit credit method. Plan assets also include investments and bank balances used to
deposit premiums until due to the insurance company.

The following tables summarise the components of net benefit expense recognised in the statement of
profit and loss and the funded status and amounts recognised in the balance sheet for the gratuity plan:

The management assessed that fair value of short term financial assets and liabilities significantly approximate
their carrying amounts largely due to the short term maturities of these instruments. The fair value of the
financial assets and liabilities is included at the amount at which the instrument could be exchanged in a
current transaction between willing parties, other than in a forced or liquidation sale.

The Company determines fair values of financial assets or liabilities by discounting the contractual cash inflows
/ outflows using prevailing interest rates of financial instruments with similar terms. The initial measurement of
financial assets and financial liabilities is at fair value. Further, the subsequent measurements of all assets and
liabilities (other then investments in mutual funds) is at amortised cost, using effective interest rate method.

The following methods and assumptions were used to estimate the fair values:

The carrying amount of trade receivables, trade payables, capital creditors and cash and cash equivalents
are considered to be same as their fair values, due to short term in nature. The carrying value of the amortised
financial assets and liabilities are approximate to the fair values on the respective reporting dates.

Investment in subsidiaries and joint venture as at the close of the year ended March 31,2025 are carried at
cost, per the option availed by the Company under the relevant provision of Ind AS.

45 Fair value hierarchy

The following tables present financial assets and liabilities measured at fair value in the statement of financial
position in accordance with the fair value hierarchy. This hierarchy groups financial assets and liabilities into
three levels based on the significance of inputs used in measuring the fair value of the financial assets and
liabilities. The fair value hierarchy has the following levels:

Level 1 : quoted (unadjusted) prices in active markets for identical assets or liabilities;

Valuation technique used to determine fair value:

Assets of disposal company classified as held for sales (AHFS): AHFS has been valued at fair value of
consideration receivable from other shareholders of the disposal company as agreed between the Company
and other shareholders of disposal group. Therefore sensitivity analysis is not available and accordingly
not disclosed.

The carrying amount of trade receivables, trade payables, capital creditors and cash and cash equivalents
are considered to be the same as their fair value, due to their short term nature.

46 Financial risk management objectives and policies

The Company's activities expose it to market risk, credit risk and liquidity risk. The Company's management
oversees the management of these risks. The Company's senior management is supported by a Risk
Management Compliance Board that advises on financial risks and the appropriate financial risk governance
framework for the Company. The financial risk committee provides assurance to the Company's 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. The management 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
price risk. Financial instruments affected by market risk include borrowings, trade payables, interest bearing
deposits, loans and derivative financial instruments.

The sensitivity analyses of the above mentioned risk in the following sections exclude the impact of movements
in market variables on the carrying values of gratuity and other post-retirement obligations; provisions;
and the non-financial assets and liabilities of foreign operations. The analysis for contingent liabilities is
provided in note 38.

A. 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 interest rates. The Company's exposure to the risk of changes in market
interest rates relates primarily to the Company's debt obligations with floating interest rates. However the
risk is very low due to negligible borrowings. The Company manages its interest rate risk by monitoring the
movements in the market interest rates closely.

The sensitivity analysis below have been determined based on the exposure to interest rates for financial
instruments at the end of the reporting year and the stipulated change taking place at the beginning of the
financial year and held constant throughout the reporting period in the case of instruments that have floating
rates. A 50 basis point increase or decrease is based on the currently observable market environment,
showing a significantly higher volatility than in prior years.

At the reporting date, the interest rate profile of the entity's interest bearing financial instrument is as
its fair value:

The movement in the pre-tax effect on profit and loss is a result of a change in the fair value of
derivative financial instruments not designated in a hedge relationship and monetary assets
and liabilities denominated in INR, where the functional currency of the entity is a currency other
than INR.

II. Credit risk

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial
loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, other
balances with banks, loans and other receivables. The Company has adopted a policy of only dealing with
counterparties that have sufficiently high credit rating. The Company's exposure and credit ratings of its
counterparties are continuously monitored and the aggregate value of transactions is reasonably spread
amongst the counterparties.

The Company provides for expected credit losses on financial assets by assessing individual financial
instruments for expectation of any credit losses. Since the assets have very low credit risk, and are for varied
natures and purpose, there is no trend that the Company can draw to apply consistently to entire population.
For such financial assets, the Company 's policy is to provides for 12 month expected credit losses upon
initial recognition and provide for lifetime expected credit losses upon significant increase in credit risk.
The Company does not have any expected loss based impairment recognised on such assets considering
their low credit risk nature, though incurred loss provisions are disclosed under each sub-category of such
financial assets. The Company's maximum exposure to credit risk is limited to the carrying amount of financial
assets recognized at reporting date.

A. Trade receivables

Customer credit risk is managed by each business unit subject to the Company's established policy,
procedures and control relating to customer credit risk management. Credit quality of a customer is
assessed based on an extensive credit review and individual credit limits are defined in accordance with this
assessment. Outstanding customer receivables are regularly monitored. At the year end the Company does
not have any significant concentrations of bad debt risk other than that disclosed in note 12.

An impairment analysis is performed at each reporting date on an individual basis for major clients. The
calculation is based on historical data. The maximum exposure to credit risk at the reporting date is the
carrying value of each class of financial assets disclosed in note 44. The Company does not hold collateral
as security. The Company evaluates the concentration of risk with respect to trade receivables as low, as its
customers are located in several jurisdictions and operate in largely independent markets.

B. Financial instruments and cash deposits

The management considers the credit quality of current accounts and deposits with banks to be good and
reviews the banking relationships on an on-going basis.

The Company does not require any security in respect of the above financial assets. There are no impairment
provisions as at each statement of financial position date against these financial assets, except as disclosed
in respect of trade receivables above. The management considers that all the above financial assets that
are not impaired or past due for each of the statement of financial position dates under review are of good
credit quality.

III. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet commitments
associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity
risk may result from an inability to sell a financial asset quickly at close to its fair value.

The Company's objective is to maintain a balance between continuity of funding and flexibility through the
use of bank overdrafts. The table below summarises the maturity profile of the Company's financial liabilities
based on contractual undiscounted payments.

47 Capital Management

The Company's capital management objectives are:

a) to ensure the Company's ability to continue as going concern; and

b) to provide an adequate return to stakeholders

As at 31 March 2025, the Company has only one class of equity shares and has low debt. Consequent to
such capital structure, there are no externally imposed capital requirements. In order to maintain or achieve
an optimal capital structure, the Company allocates its capital for distribution as dividend or re-investment
into business based on its long term financial plans.

54 Additional regulatory information required by Schedule III of Companies Act, 2013

(i) Details of Benami property:

No proceedings have been initiated or are pending against the Company for holding any Benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(ii) Utilisation of borrowed funds and share premium:

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

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

b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(B) 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

(iii) Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

(iv) Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous year in the tax
assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(v) Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or
previous year.

(vi) Valuation of Property plant and equipments, intangible asset and investment property:

The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible
assets or both during the current or previous year.

(vii) The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies
beyond the statutory period.

(viii) The Company is not declared wilful defaulter by any bank or financial institution or government or any
government authority.

55 Other disclosures

(A) Disclosure as per Section 186 of the Companies Act, 2013

The details of loans, guarantees and investments under Section 186 of the Companies Act, 2013 read with
the Companies (Meetings of Board and its Powers) Rules, 2014 are as follows:

(i) Details of Investments made are given in Note 6.

(ii) Details of guarantees issued or loans given by the Company as at 31 March, 2025 and 31 March, 2024
are given in Note 7 and 40.

(B) Disclosure as per Part A of Schedule V of SEBI (Listing Obligations and Disclosures Requirements)
Regulations, 2015 as regards the loans granted to subsidiaries, joint ventures and other companies in which
the directors are interested:

57 Dividend proposed

The Board of Directors of the Company have recommended a final dividend of B 4 per share (31 March 2024:
B 6 per share) on equity shares of B 1 each for the year ended 31 March 2025, subject to the approval of
shareholders at the ensuing annual general meeting.

58 The Ministry of Corporate Affairs (MCA) has prescribed a requirement for companies under the
proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts)
Amendment Rules, 2021 requiring companies, which uses accounting software for maintaining its
books of account, shall use only such accounting software which has a feature of recording audit
trail of each and every transaction, creating an edit log of each change made in the books of account
along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

The Company has used accounting software for maintaining its books of account which has a feature of audit
trail (edit log) facility and the same was enabled at the application level. During the year ended 31 March
2025, the Company has not enabled the feature of recording audit trail (edit log) at the database level for the
said accounting software to log any direct data changes on account of recommendation in the accounting
software administration guide which states that enabling the same all the time consume storage space on the
disk and can impact database performance significantly.

59 The figures of the previous year have been re-classified according to current year classification
wherever required. The impact of the same is not material to the users of the standalone financial
statements.

60 The standalone financial statements for the year ended 31 March 2025 were approved by the Board of
Directors on 06 May 2025.

As per our report of even date attached

For Walker Chandiok & Co LLP For and on behalf of the Board of Directors of

Chartered Accountants Kajaria Ceramics Limited

Firm's registration no.

001076N/N500013

Nalin Jain Ashok Kajaria Chetan Kajaria Rishi Kajaria

Partner Chairman and Managing Director Joint Managing Director Joint Managing Director

Membership no. : 503498 (DIN: 00273877) (DIN: 00273928) (DIN: 00228455)

Ram Chandra Rawat Sanjeev Agarwal

Place: New Delhi COO (A&T) and Company Secretary Chief Financial Officer

Date: 06 May 2025 (FCS No. 5101)