20. Contingent Liabilities & Contingent Assets:

Contingent liabilities are not provided for but are
disclosed by way of Notes on Accounts. Contingent
liabilities is disclosed in case of a present obligation from
past events

(a) when it is not probable that an outflow of resources
will be required to settle the obligation;

(b) when no reliable estimate is possible;

(c) unless the probability of outflow of resources is
remote.

Contingent assets are neither accounted for nor
disclosed by way of Notes on Accounts where the
inflow of economic benefits is probable.

21. Current And Non- Current Classification:

The Normal Operating Cycle for the Company has been
assumed to be of twelve months for classification of
its various assets and liabilities into "Current" and "Non¬
Current".

The Company presents assets and liabilities in the
balance sheet based on current and non-current
classification.

An asset is current when it is

(a) expected to be realised or intended to be sold or
consumed in normal operating cycle

(b) held primarily for the purpose of trading

(c) expected to be realised within twelve months after
the reporting period

(d) Cash and cash equivalent unless restricted from
being exchanged or used to settle a liability for at
least twelve months after the reporting period.

(e) All other assets are classified as non-current.

A liability is current when

(a) it is expected to be settled in normal operating
cycle

(b) it is held primarily for the purpose of trading

(c) it is due to be discharged within twelve months
after the reporting period

(d) there is no unconditional right to defer the
settlement of the liability for at least twelve months
after the reporting period.

(e) All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non¬
current assets and liabilities.

22. Corporate social responsibility (CSR) Activity

In case of CSR activities undertaken by the Company,
if any expenditure of revenue nature is incurred or an
irrevocable contribution is made to any agency to be
spent by the latter on any of the activities mentioned
in Schedule VII to the Companies Act, 2013, the same is
charged as an expense to its Statement of Profit and Loss
and if any extra material amount has been done the same
has been carried forward as current asset.

23. Earnings Per Share

Earnings per share are calculated by dividing the net
profit or loss before OCI for the year attributable to equity
shareholders by the weighted average number of equity
shares outstanding during the period. For the purpose
of calculating diluted earnings per share, the net profit
or loss before OCI for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period are adjusted for the effects
of all dilutive potential equity shares.

24. Segment Reporting

The Company's operating business segments are
organized and managed separately according to the
nature of products and services provided, with each
segment representing a strategic business unit that
offers different products and serves different markets.

25. Provisions

Provisions are recognised when the Company has a
present obligation (legal or constructive) as a result of
a past event, 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. When the Company
expects some or all of a provision to be reimbursed,
the reimbursement is recognised as a separate asset,
but only when the reimbursement is virtually certain.
The expense relating to a provision is presented in the
statement of profit and loss net of any reimbursement.

Provisions are reviewed at each balance sheet date and
adjusted to reflect the current best estimate. If it is no
longer probable that the outflow of resources would
be required to settle the obligation, the provision is
reversed.

Notes:-

1. The title deeds of immovable properties are held in the name of the company, in case of land which are on long term lease
from government, the lease agreement are duly executed in favor of company.

2. For details assets pledged against borrowings Refer Note No. 16 & 20

3. Company has not revalued its Property, Plant & Equipment & Intangible assets during the period ending 31^st March, 2025 and
also during the previous period ending 31^st March, 2024.

4. Intangible asset under development is Nil (PY Nil)

5. The Company has elected to apply IND AS 116 to its leases and has recognised lease liabilities and corresponding right of use
assets. In the statement of profit and loss for the year ended, depreciation expenses on right of use assets and finance cost
for interest accrued on such lease liability has been recognized.

6. For details of Lease Liabilities Refer Note No. 17 & 21

7. Company has not revalued its Right -to- use assets during the period ending 31^st March, 2025.

8. During the year ended March 31,2025, certain assets which were old and have no realisable value having Net book value of
Rs.1.59 Lakhs/-(PY Rs. Rs.0.51 Lakhs/-) (Gross book value of Rs. 14.82 Lakhs/-(PY Rs. 6.46 Lakhs/-)) were retired and shown as
impairement loss in the books.

e. Equity shares movement during the 5 years preceding March 31, 2025
Equity shares extinguished on buy-back

In the Financial Year 2020-2021, the Company has Bought back its 22,00,000 equity shares @Rs.37/- per share amounting to Rs.
8.14 Crores being 9.97% of the total equity share. The equity shares bought back were extinguished on March 17, 2021.

The Company does not have any Holding/ Ultimate Holding Company. As such, no shares are held by them or their
Subsidiaries/ Associates.

There are NIL ( Previous year NIL) shares reserved for issue under option and contracts/commitment for the sale of shares/
disinvestment.

Note: - 41 Disclosures Pursuant To Securities And Exchange Board Of India (Listing Obligations And Disclosure
Requirements) Regulations, 2015 And Section 186 Of The Companies Act, 2013

Details of investments made have been given as part of Note '3' Investments in Subsidiary.

In the year 2022-2023 Company has given Corporate Guarantee for availing a loan facility on behalf of M/s Archidply Decor
Ltd related concern of the Company to Kotak Mahindra Bank (1000 lakhs) and HDFC Bank Limited (1500 lakhs) for the
credit facilities granted by them for the purpose of principal business activity of M/s Archidply Decor Ltd and the same is
continued.

The same was approved by board on May 17, 2023

In the year 2022-2023 Company has given Corporate Guarantee for availing loan facility on behalf of M/s Archidpanel
Industries Pvt Ltd, 100% Subsidiary of the Company to State Bank of India (5710 Lakhs) amount of loan is Rs. 5500.44 lakhs
as on 31.03.2025, HDFC Bank Limited (4800 Lakhs) amount of loan is Rs. 4019.71 lakhs as on 31.03.2025 and during the year

Note: - 42: Related Party

A related party transaction is a transfer of resources, services or obligations between a reporting entity and a related party,
regardless of whether a price is charged. Close members of the family of a person are those family members who may be
expected to influence, or be influenced by, that person in their dealings with the entity.

Compensation includes all employee benefits i.e. all forms of consideration paid, payable or provided by the entity, or on behalf
of the entity, in exchange for services rendered to the entity. It also includes such consideration paid on behalf of a parent of the
entity in respect of the entity. Key management personnel are those persons having authority and responsibility for planning,
directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise)
of that entity.

i) Interest income of Rs.10.16 Lakhs (P.Y. Rs. 62.16 Lakhs) on financial instrument at amortised cost.

ii) Fee on Corporate guarantee received of Rs. 1.25 lakhs (PY-77.75)

iii) Interest expense of Rs. 747.03 Lakhs (PY.Rs. 679.21 Lakhs) on borrowing and lease interest of Rs. 29.75 lakhs (P.Y Rs.
18.48 lakhs) on Financial Liabilities at amortised cost.

Note 47. Financial Risk Management-Objectives and Policies

The Company's financial liabilities comprise long term borrowings, short term borrowings, capital creditors, trade and other
payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's financial assets
include trade and other receivables, cash and cash equivalents, investment in subsidiaries at cost and deposits.

The Company is exposed to market risk and credit risk. The Company has a Risk management policy and its management is
supported by a Risk management committee that advises on risks and the appropriate risk governance framework for the
Company. The audit committee provides assurance to the Company's management that the Company's risk activities are
governed by appropriate policies and procedures and that 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.

(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 risk of interest rate, currency risk and other price risk, such as commodity price risk and
equity price risk. Financial instruments affected by market risk include FVTPL investments.

a. Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the
Company's operating activities. The Company has a treasury department which monitors the foreign exchange fluctuations
on the continuous basis and advises the management of any material adverse effect on the Company.

Foreign Currency sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in foreign currency exchange rates, with all
other variables held constant. The impact on the Company's profit before tax is due to changes in the fair value of assets and
liabilities.

b. 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.

Interest rate sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion
of loans and borrowings affected. With all other variables held constant, the Company's profit before tax is affected
through the impact on floating rate borrowings, as follows:

(ii) Credit Risks

Credit risk is the risk that counterparty will 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).

The Company implements a credit risk management policy under which the Company only transacts business with
counterparties that have a certain level of credit worthiness based on internal assessment of the parties, financial condition,
historical experience, and other factors. The Company's exposure to credit risk is influenced mainly by the individual
characteristics of each customer. The Company has established a credit policy under which each new customer is analysed
individually for creditworthiness.

Trade receivables

An impairment analysis is performed at each reporting date on an individual basis for all the customers. In addition, a large
number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The calculation
is based on credit losses historical data. The maximum exposure to credit risk at the reporting date is the carrying value of
trade receivables disclosed in Note 9 as the Company does not hold collateral as security. The Company has evaluated the
concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries.

Refer note no 9 for ageing of trade receivable as of 31st March, 2025 and 31st March, 2024.

No significant changes in estimation techniques or assumptions were made during the reporting period.

Credit risk also arises from transactions with financial institutions, and such transactions include transactions of cash and cash
equivalents, various deposits, and financial instruments such as derivative contracts. The Company manages its exposure
to this credit risk by only entering into transactions with banks that have high ratings. The Company's treasury department
authorizes, manages, and oversees new transactions with parties with whom the Company has no previous relationship.

Furthermore, the Company limits its exposure to credit risk of financial guarantee contracts by strictly evaluating their necessity
based on internal decision making processes, such as the approval of the board of directors.

Credit risk exposure

The carrying amount of financial assets represents the Company's maximum exposure to credit risk. The maximum exposure
to credit risk as of 31st March, 2025 and 31st March, 2024 are as follows:

(iii) Liquidity Risk

The Company's objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements at all
times. The Company relies on a mix of borrowings and excess operating cash flows to meet its needs for funds. The current
committed lines of credit are sufficient to meet its short to medium/ long term expansion needs. The Company monitors
rolling forecasts of its liquidity requirements to ensure it has sufficient cash to meet operational needs. Besides, it generally
has certain undrawn credit facilities which can be accessed as and when required; such credit facilities are reviewed at regular
intervals. Thus, no liquidity risk is perceived at present.

Note:- 48 Additional disclosures relating to the requirement of revised Schedule III

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

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

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

(iv) There is no undisclosed income under the Income Tax Act, 1961 for the year ending 31st March, 2025 and 31st March, 2024
which needs to be recorded in the books of account.

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

(vi) The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for
which such loans were taken.

(vii) The below charges are pending for satisfaction which are yet to be registered with the Registrar of Companies beyond the
statutory period.

(viii) Relationship with struck off companies

There are no transactions with strike off company u/s 248 or 560 of Companies Act, 2013.

(ix) The Company has not entered into any scheme of arrangements which has an accounting impact on current or previous

financial year.

(x) Utilisation of Borrowed Fund & Share Premium:

a) The Company have not advanced or loaned or invested funds to any other person(s) or entities, including foreign
entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in
other personsor entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries)
or (b) provide anyguarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

b) The Company have not received any fund from any person(s) or entities, including foreign entities (Funding Party)
with theunderstanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly
lend or invest inother 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.

Note:- 49

Previous year's figures have been rearranged and/or regrouped, wherever necessary.

Note:- 50

The financial statements have been approved by the Audit Committee at its meeting held on 22th May, 2025 and by the
Board of Directors on the same date.

Deen Dayal Daga Rajiv Daga AS PER OUR REPORT OF EVEN DATE

Chairman Managing Director For GRV & PK

DIN: 00497806 DIN:01412917 Chartered Accountants

Firm Reg. No. 008099S

Anil Sureka Atul Krishna Pandey

Chief Financial Officer Company Secretary Kamal Kishore

M.No.:A47815 (Partner)

Membership No. 205819

Place: Delhi UDIN: 25205819BMKUHS5724

Date : 22.05.2025