M. Provisions, Contingent Liabilities and Contingent
Assets

a) Provisions are recognized when there is 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. The expenses relating to a provision are
recognised in the Statement of Profit & Loss net of any
reimbursement.

b) If the effect of time value of money is material, provisions
are shown at present value of expenditure expected to
be required to settle the obligation, by discounting 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
recognized as a finance cost.

c) Contingent liabilities are possible obligations arising from
past events and whose existence will only be confirmed
by occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the
Company, or present obligations where it is not probable
that an outflow of resources will be required to settle
the obligation or the amount of the obligation cannot be
measured with sufficient reliability. Contingent liabilities
are not recognized in the financial statements but are
disclosed unless the possibility of an outflow of economic
resources is considered remote.

d) Show-cause notices issued by various Government
Authorities are not considered as obligation. When the
demand notices are raised against such show-cause
notices and are disputed by the Company, these are
classified as disputed obligations.

e) Contingent Assets are not recognised but reviewed
at each balance sheet date and disclosure is made in
the Notes in respect of possible effects that arise from
past events and whose existence is confirmed by the
occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company
and where inflow of economic benefit is probable.

N. Fair Value measurement

a) The Company measures financial instruments i.e.
derivative contracts at fair value at each balance sheet
date.

b) Fair value is the price that would be received on selling an
asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date in
the principal or, in its absence, the most advantageous
market to which the Company has access at that date.

c) While measuring the fair value of an asset or liability, the
Company uses valuation techniques that are appropriate
in the circumstances and for which sufficient data are
available to measure the fair value using observable
market data as far as possible and minimising the use of
unobservable inputs. Fair values are categorised into 3
levels as follows:

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

Level 2: inputs other than quoted prices that are
observable for the assets or liability, either directly (i.e.

as prices for similar item) or indirectly (i.e. derived from
prices)

Level 3: inputs that are not based on observable market
data (unobservable inputs)

0. Financial Instruments

1. Financial Assets other than derivatives

All financial assets are recognised initially at fair values
including transaction costs that are attributable to the
acquisition of the financial asset.

A financial asset is measured (subsequent measurement)
at the amortised cost if the asset is held within a business
model whose objective is to hold assets for collecting
contractual cash flows, and the contractual terms of the
asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal
amount outstanding.

Amortised cost is net of any write down for impairment
loss (if any) using the effective interest rate (EIR) method
taking into account any discount or premium and fees or
costs that are an integral part of the EIR.

A financial asset is derecognised either partly or fully to
the extent the rights to receive cash flows from the asset
have expired and / or the control on the asset has been
transferred to a third party. On de-recognition, any gains
or losses are recognised in the Statement of Profit & Loss.

ii. Financial Liabilities other than derivatives

All financial liabilities are recognised initially at fair value
net of transaction costs that are attributable to the
respective liabilities.

After initial recognition, financial liabilities are subsequently
measured at amortised cost using the effective interest
rate method (“EIR”). 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 & Loss.

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 de-

recognition 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 & Loss.

iii. Derivative financial instruments

The Company uses derivative financial instruments,
such as foreign exchange forward contracts to manage
its exposure to foreign exchange risks. Such derivative
financial instruments are initially recognised at fair value
on the date on which a derivative contract is entered into
and are subsequently re-measured at fair value with the
changes being recognised in the Statement of Profit &
Loss. Derivatives are carried as financial assets when the
fair value is positive and as financial liabilities when the fair
value is negative.

iv. Compound Financial Instrument

Compound financial instruments issued by the Company
which can be converted into fixed number of equity shares
at the option of the holders irrespective of changes in the
fair value of the instrument are accounted by separately
recognising the liability and the equity components. The
liability component is initially recognised at the fair value
of a comparable liability that does not have an equity
conversion option. The equity component is initially
recognised at the difference between the fair value of
the compound financial instrument as a whole and the
fair value of the liability component. Subsequent to initial
recognition, the liability component of the compound
financial instrument is measured at amortised cost using
the effective interest method. The equity component
of a compound financial instrument is not remeasured
subsequently.

v. 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, or to realise the assets and settle the liabilities
simultaneously.

vi. Investment in Equity Instruments

All investments in equity instruments classified under
financial assets are initially measured at fair value, the
Company may, on initial recognition, irrevocably elect to
measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-
by-instrument basis. Fair value changes on an equity
instrument are recognised in ‘other income' in the
standalone statement of profit and loss unless the
Company has elected to measure such instrument at
FVOCI. Fair value changes excluding dividend, on an
equity instrument measured at FVOCI are recognised in
OCI. Amounts recognised in OCI are not subsequently
reclassified to the standalone statement of profit and loss.

Dividend income on the investments in equity instruments
are recognised as ‘other income' in the standalone
statement of profit and loss.

P. Classification of Assets and Liabilities as Current
and Non Current

All assets and liabilities are classified as current if they
are expected to be realised / settled within twelve months
after the reporting period. All other assets and liabilities
are considered as non-current.

Q. Impairment
Non-financial Assets

At each Balance Sheet date, an assessment is made
of whether there is any indication of impairment. 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 the asset's or Cash-Generating Unit's (CGU)
fair value less costs of disposal and its value in use.
Recoverable amount 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.

When 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.

Financial Assets

The Company applies Expected Credit Loss (“ECL’)
model for measurement and recognition of impairment
loss on the financial assets measured at amortised cost.

Loss allowances on trade receivables are measured
following the ‘simplified approach' at an amount equal to
the lifetime ECL at each reporting date right from initial

recognition. In respect of other financial assets measured
at amortised cost, the loss allowance is measured at 12
months ECL for financial assets with low credit risk at the
reporting date. Where there is a significant deterioration in
the credit risk, the loss allowance is measured since initial
recognition of the financial asset.

R. Taxes on Income
Current Tax

Income-tax assets and liabilities are measured at the
amount expected to be recovered from or paid to the
taxation authorities. The tax rates and tax laws used
to compute the amount are those that are enacted or
substantively enacted, by the end of reporting period.

Deferred tax

Deferred tax (both assets and liabilities) is calculated
using the balance sheet method on temporary differences
between the tax bases of assets and liabilities and their
carrying amounts for financial reporting purposes at the
reporting date.

Deferred tax assets are recognised for all deductible
temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets
are recognised to the extent that it is probable that taxable
profit will be available against which the deductible
temporary differences, and the carry forward of unused tax
credits and unused tax losses can be utilised. The amount
of deferred tax assets is reviewed at each reporting date.

Deferred tax assets and liabilities are measured at the tax
rates that are expected to apply in the year when the asset
is realised or the liability is settled, based on tax rates (and
tax laws) that have been enacted or substantively enacted
at the reporting date.

Deferred tax assets and deferred tax liabilities are offset
if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred taxes
relate to the same taxable entity and the same taxation
authority.

Current tax and Deferred Tax items are recognised in
correlation to the underlying transaction either in the
Statement of Profit & Loss, other comprehensive income
or directly in equity.

S. Earnings per share

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

Diluted earnings per share are calculated by dividing
the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares
outstanding during the period, adjusted for the effect of all
dilutive potential equity shares.

T. Cash and Cash equivalents

Cash and cash equivalents include cash at bank, cash,
cheques and draft on hand. The Company considers all
highly liquid investments with original maturity of three
months or less and that are readily convertible to known
amounts of cash to be cash equivalents.

Cash Flows

Cash flows are reported using the indirect method,
where by net profit before tax is adjusted for the effects
of transactions of a non-cash nature, any deferrals or
accruals of past or future operating cash receipts or
payments and item of income or expenses associated
with investing or financing cash flows. The cash flows
from operating, investing and financing activities are
segregated.

U. Government Grants

Government grants are recognized to the extent they are
received in cash or kind.

When the grant relates to an expense item, the same is
deducted in reporting the related expense in the Statement
of Profit or Loss for which it is intended to compensate.

Government grants relating to property, plant and
equipment are presented as deferred income and are
credited to the Statement of Profit & Loss on a systematic
basis over the useful life of the asset and in the proportions
in which depreciation expense on the assets is recognised.

Grants related to income are deducted in reporting the
related expense.

V. 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.
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.

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

W. Impairment of non-financial assets

At each Balance Sheet date, an assessment is made
of whether there is any indication of impairment. 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 the assets or Cash-Generating Unit's (CGU)
fair value less costs of disposal and its value in use.
Recoverable amount 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.

When 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 cost of disposal, recent
market transactions are taken into account. If no such
transactions can be identified, an appropriate valuation
model is used.

i) Sales Tax Assessments of Dhrangadhra Unit are pending
for 1994-95, 1995-96, 1997-98, 2004-05 & 2005¬
06. In respect of Sahupuram Unit Central Sales Tax
Assessments and Tamil Nadu General Sales tax / VAT
assessment are completed up to 2017-18 and demand
has been raised and the company has filed appeal against
the demand with higher authority.

ii) In the matter of difference in amount in respect Input tax
credit on furnace oil, reversal of ITC on Consignment
Transfers, VAT on sale of Windmills etc., by Tamilnadu
VAT Department, the Commercial Tax Officer (CTO) has
issued assessment orders for the years from 2010-11 to
2013-14 determining the demand of' 3346.43 Lakhs
consequent to order dated 30th July 2024 passed by
Madurai bench of the Honourable Madras High Court by
disposing of the writ petition filed by the Company.

In respect of demand of differential duty of Customs of
' 1,243.77 lakhs plus interest at the applicable rates thereon
under section 28AA of Customs Act, 1962 and redemption
fine and penalty of ' 2,600 lacs in respect of coal imports in
earlier years, the Company has been legally advised that it has
the fair chance of success before CESTAT. Accordingly, no
provision has been made in the accounts.

# Includes:

The Income-Tax authorities (‘the department') had conducted
search activity during the month of November 2023 at some
of the premises, plants and residences of few of the directors
and employees of the Company. Consequent to the aforesaid
search, The Income Tax Authorities have passed orders under
Section 143 (3) read with Section 147 of the Income Tax Act,
1961 for 10 assessments years starting A.Y. 2015-16 to AY
2024-25.

The Income Tax Authorities have raised demand of ' 669.29
Lakhs on account of various disallowances/ additions under
Income Tax Act, 1961.

The orders issued by the Income Tax Authorities also have the
effect of reducing the MAT credit available with the company
by an amount aggregating to ' 2893.15 Lakhs for the block
period of 10 years ending A.Y 2024-25. Further, the notices
for initiation of penalty have been issued by the Income Tax
Authorities.

The company has been advised by its Tax expert that the
above Tax demands/ the denial of MAT credit under the
above referred orders are not tenable in law. The Company
is pursuing appeals against the above said orders and the
penalty notices under the applicable laws.

$ Includes:

i) The Tamil Nadu Government vide Government order
dated 23-09-1996 issued under TamilNadu Electricity
(Taxation & Consumption) Act, 1961, exempted specified
industries (including the industry in which the company
operates) permanently from payment of Electricity Tax on
consumption of power generated captively. The Supreme
Court vide order dated 15th May, 2007 held that the
withdrawal of the permanent exemption by the Act of
2003 was invalid. In November, 2007 the Tamilnadu
government passed the Tamilnadu tax on consumption
or Sale of Electricity (Amendment) Act, amending the Act
of 2003 to invalidate the permanent exemption granted
with retrospective effect. The writ petition filed by the
company against this amendment has been dismissed by
the Madras High Court. The SLP filed by the company
against the High Court Order has been admitted by the
Supreme Court.

The Electrical Inspectorate, Government of Tamil Nadu's
vide letter dated 2^nd September 2014 informed the
Company that the electricity tax exemption would not be
applicable to the Company and demanded Electricity Tax
of ' 2,026.72 lakhs and interest of ' 1,541.98 lakhs for the
period 2003 to 2012. The Company has filed writ petition
before the Hon'ble High Court of Judicature at Madras
and has also obtained interim stay of the said demand
vide Order dated 22^nd September, 2014 on payment of
' 640.24 lakhs towards pre-deposit.

The appeal filed before the Hon'ble Supreme Court and
the writ petition filed before the Hon'ble Madras High
Court are pending for adjudication.

The company has been legally advised and is hopeful
of favourable outcome before the Supreme Court on
the invalidity of and the retrospective application of the
Amending Act of 2003 and in the writ petition filed before
the Hon'ble Madras High Court. An amount of ' 422.69
lakhs has been provided on a prudent basis in the earlier
financial year. No provision is considered necessary by
the management for the balance electricity tax demand
and has been disclosed as contingent liability.

The Tamilnadu Electricity Distribution Circle had raised the
demand of ' 1,067 Lakhs for parallel operations charges
for the period from May 2014 to November 2019. The
Company has filed writ petition before the Hon'ble High
Court, Madras, Madurai and has obtained the interim stay
of the said demand.

ii) In the matter of disputed demand of ' 698.94 lakhs
consequent to revision in the lease rent rates fixed by
the Tariff Authority for Major Ports (TAMP) from 2006 to
2016 in respect of the port lands taken on lease by the
Company from the V. O. Chidambaranar Port Trust, the
Company has obtained interim stay from the Honourable
High Court of Judicature at Madras vide order dated
01.08.2014. The Company is confident of succeeding in
this matter.

(B) Commitments:

i) Estimated amount of Contracts remaining to be executed
on Capital Account and not provided for is ' 3130.22
lakhs (31^st March 2024: ' 419.54 lakhs).

ii) In respect of land on lease, the future obligations
towards lease rentals under the lease agreements as on
31^st March, 2025 amount to ' 698.94 lakhs (31^st March
2024: ' 698.94 lakhs)

iii) The Company has given an undertaking for the purposes
of obtaining 100% Export Oriented Unit status that it
would achieve positive net foreign exchange earnings as
prescribed in the EOU Scheme for a period of five years
upto May 2020. The Company has filed application for
extension of the said period by five more years till May
2025. The application is accepted by the department for
a second block of 5 years period starting from 21.05.2020
to 20.05.2025. The Company is hopeful of achieving the
said parameters and does not expect any liability on this
account as on the Balance sheet date.

NOTE 39

a. Land includes a land costing ' 3.91 lakhs (fair valued at ' 2380.20 lakhs on transition date) admeasuring 793.39 acres at
Sahupuram Works, the assignment deeds in respect of which are yet to be executed by the State Government in favour of
the Company. The Company had remitted the above land cost as per State Government order in the year 1989.

The State Government vide order dated 31^st March 2017 rejected the request for the assignment of land and issued orders
to repossess the said land and ordered to collect the arrears of lease amount from 1989 with 12%. The Company filed writ
petition against the said order before the Honourable Madras High Court.

The Hon'ble Madras High Court, Madurai Bench vide Order dt 26.2.2024 has set aside the above Order and remanded
back for fresh consideration. The High Court has also given direction to the revenue authorities to fix the land cost, within 6
months from the date of Order, depending upon the market value of the land as on the date of the Order and considering
the fact that the company has made huge investments in the said lands believing the words of the Government in G.O. Ms.
No.76 Revenue Department dt. 7.1.1959. The company is hopeful of getting the ownership of the land transferred in its
name as per Sec.53A of the Transfer of Property Act. Accordingly, the said land is continued to be treated as “freehold”. The
determination of cost of land by the revenue authorities is pending. The company does not expect the outflow of resources
to be material.

b. In the matter of leasehold land in respect of the salt works at Kuda, Dhrangadhra, which is an “Operating Lease”, the
Honourable Supreme Court has admitted the SLP filed by the Company against the Order of the Gujarat High Court upholding
that the lease of the aforesaid land is not permanent and hence is terminable. The Company is confident of succeeding in the
Supreme Court.

During year ended 31.03.2025, the Company has changed the composition of its reportable segments as follows:

• Heavy Chemicals: This Segment Includes revenue generated from caustic soda, soda ash, PVC and Illuminate products.

• Speciality Chemicals: This Segment Includes revenue generated from SIOP and CPVC products.

• Others: This shall include any other business activities generating revenue for the Company.

Identifications of Segments:

The Chief Operational Decision Maker (CODM) monitors the operating results of its business segment separately for the purpose
of making decision about resource allocation and performance assessment. Segment performance is evaluated based on profit
or loss and is measured consistently with profit or loss in the standalone financial statements, Operating segments have been
identified on the basis of nature of products and other quantitative criteria specified in the Ind AS 108.

Segment Revenue and Results:

The expenses and income which are not directly attributable to any business segment are shown as un-allocable expenditure &
income.

Segment Assets and Liabilities:

Segment assets include all operating assets used by the operating segment and mainly consist of property, plant and equipment,
trade receivables, inventory and other operating assets. Segment liabilities primarily include trade payable and other liabilities.

Common assets and liabilities which cannot be allocated to any of the business segment are shown as un-allocable assets/
liabilities. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue
and expenditure in individual segments.

Consequent to the change in the composition of reportable segments, the corresponding items of segment information for earlier
year have been restated.

NOTE 44

FAIR VALUE MEASUREMENTS:

The following disclosures are made as required by IND AS -113 pertaining to Fair value measurement:
a. Accounting classification and fair values

The fair values of the financial assets and liabilities are 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 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 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.

c. Financial risk management

The Company has exposure to the Credit risk, Liquidity risk and Market risk arising from financial instruments.

Risk Management Framework: 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 (RMC), which is responsible for developing and monitoring the Company's risk management policies.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risk limits to control / monitor risks and adherence to limits. Risk management policies and systems are reviewed
regularly to reflect changes in market conditions and the Company's activities.

The Audit Committee oversees how management monitors compliance with the company's risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The
Audit Committee is assisted by internal audit. Internal audit undertakes reviews of risk management controls and procedures,
the results of which are reported to the Audit Committee.

The Company's financial risk management is an integral part of how to plan and execute its business strategies. The
Company's financial risk management policy is approved by the Board of Directors.

d. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations and arises principally from the Company's receivables.

Trade receivables: The Company considers the probability of default upon initial recognition of asset and whether there has
been a significant increase in credit risk on an on-going basis throughout each reporting period.

The following table provides information about the exposure to credit risk and measurement of loss allowance using Life time
expected credit loss for trade receivables:

Cash and cash equivalents:

The Company held cash and cash equivalents of ' 1,130.82 lakhs as at 31^st March 2025 (' 1,072.16 lakhs as at 31^st March
2024). The cash and cash equivalents are held with reputed banks.

e. Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable
price. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to
meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or
risking damage to the Company's reputation.

f. Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and commodity prices,
will affect the Company's income or the value of its financial instruments. Market risk is attributable to all market risk sensitive
financial instruments including foreign currency receivables and payables, long term debt and commodity prices. The
Company is exposed to market risk primarily related to foreign exchange rate risk, interest rate risk and commodity price
risk.

Interest rate risk:

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk
of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates, in cases where
the borrowings are measured at fair value through the Statement of profit and loss. Cash flow interest rate risk is the risk that
the future cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

Exposure to Interest rate risk:

Company's interest rate risk arises from borrowings. The interest rate profile of the Company's interest-bearing long term
financial instruments is as follows:

Cash flow sensitivity analysis for variable-rate instruments: A reasonably possible decrease by 100 basis points in interest
rates at the reporting date would have positive impact (before tax) by ' 296.47 lakhs and ' 304.30 lakhs for the outstanding
balance as on 31.3.2025 and 31.3.2024 respectively. Similarly a reasonable possible increase by 100 basis points in interest
rate would have negative impact (before tax) by same amounts.

Currency risk:

The Company is exposed to currency risk on account of its operating and financing activities. The functional currency of the
Company is Indian Rupee.

To the extent the exposures on purchases and borrowings are not economically hedged by the foreign currency denominated
receivables, the Company uses derivative instruments, like, foreign exchange forward contracts to mitigate the risk of
changes in foreign currency exchange and principal only swap rates. Company does not use derivative financial instruments
for trading or speculative purposes.

The Company evaluates exchange rate exposure arising from foreign currency transactions and the Company follows
established risk management policies including the use of derivatives like foreign exchange forward contracts to hedge
exposure.

Exposure to currency risk:

The currency profile of financial assets and financial liabilities as on 31^st March 2025 & 31^st March 2024 are as below:

NOTE 46

Exceptional items for the year ended 31^st March 2024 represent provision for the Loss of stock in the floods at Sahupuram unit
after netting off of insurance claim receivable.

NOTE 47

OTHER STATUTORY INFORMATION

• The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property.

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

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

• 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.

• The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entity(ies)
(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.

• The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act,
2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve
Bank of India.

• The Company has complied with the number of layers for its holding in downstream companies prescribed under clause (87)
of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.

• The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the year.

• The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560

of Companies Act, 1956 for the year ended/ as at 31^st March 2025.

• The Company does not have any investment property.

• The Company does not have any Intangible Assets.

• The Company has borrowings from banks on the basis of security of current assets. The quarterly returns filed by the
Company with such banks are in agreement with the books of accounts of the Company.

• The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013
read with Companies (Restriction on number of Layers) Rules, 2017.

The Board in its meeting held on 13th February 2025 has considered and approved the Scheme of Amalgamation under Section
232 read with Section 230 and 66 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013
(“The Act”) and Rules & Regulations framed thereunder between Dhrangadhara Trading Company Private Limited (“Transferor
Company 1” or “DTCPL’) and Sahu Brothers Private Limited (“Transferor Company 2” or “SBPL’) and DCW Limited (“Transferee
Company” or “DCW”) and their respective shareholders (the “Scheme”), which inter alia provides for amalgamation of the
Transferor Companies with the Transferee Company on a going concern basis and in consideration thereof, DCW will issue
12,80,500 fully paid equity shares of lNR 2/- each to the Equity Shareholders of DTCPL in proportion to their holdings in DTCPL
and 5,24,59,860 fully paid equity shares of lNR 2/- each to the Equity Shareholders of SBPL in proportion to their holdings in
SBPL, in lieu of the same number of equity shares namely 12,80,500 and 5,24,59,860 respectively, held by the said transferor
companies in DCW before amalgamation. The Scheme is subject to receipt of approval from the statutory, regulatory and
customary approvals, including approvals from Stock Exchanges, National Company Law Tribunal and the shareholders of the
companies involved in the Scheme and the company is in the process of seeking the same.

Note 49:

The company entered into power purchase agreement with Kaze Renewables Private Limited (KRPL) for purchase of power. The
company is entitled to liquidated damages as per the said agreement. Accordingly, the company has accounted for the same
during the year by crediting the profit and loss account.

NOTE 51

The financial statements have been approved and authorized for issue by the Board of Directors on 12^th May 2025.

NOTE 52

SOCIAL SECURITY CODE

The Code on Social Security, 2020 (‘Code') relating to employee benefits during employment and post-employment benefits
received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on
which the Code will come into effect has not been notified and the final rules / interpretation have not yet been issued. The
Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code
becomes effective.

NOTE 53

The figures of previous year have been rearranged & regrouped wherever necessary and / or practicable to make them
comparable with those of the current year.

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

For V Sankar Aiyar & Co. Bakul Jain Ashish Jain

Chartered Accountants Chairman & Managing Director Managing Director

FRN NO 109208W DIN 00380256 DIN 00866676

Asha Patel Vivek Jain Pradipto Mukherjee

Partner Managing Director Chief Financial Officer

Membership No 166048 DIN 00502027

Dilip V Darji Amitabh Gupta

Sr. GM ( Legal) & Chief Executive Officer

Company Secretary

Place: Mumbai Membership No A22527 Place: Mumbai

Date: 12^th May 2025 Date: 12^th May 2025