2.17 Provisions, Contingent Liabilities and Contingent Assets
2.17.1 provisions

a. Provisions are recognized when the company has present obligation (legal or constructive) as a result of past
event and it is probable that 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 expense related to
a provision is presented in the statement of profit and loss net of any reimbursement/contribution towards
provision made.

b. If the effect of the time value of money is material, estimate for the 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 recognized as a finance cost.

c. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

2.17.2 Contingent liability

a. Contingent liability is disclosed in the case;

• When there is a possible obligation which could arise from past event and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly
within the control of the Company or;

• A present obligation that arises from past events but is not recognized as expense because it is not probable
that an outflow of resources embodying economic benefits will be required to settle the obligation or;

• The amount of the obligation cannot be measured with sufficient reliability.

b. Commitments

Commitments include the value of the contracts for the acquisition of the assets net of advances.

2.21.3 Contingent assets

Contingent asset is disclosed in case a possible asset arises from past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the Company.

Contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

2.18 Cash flow statements

Cash flows are reported using the indirect method, whereby 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 flow from operating, investing and financing
activities of Company is segregated.

3. RECENT ACCOuNTING DEVELOpMENT / pRONOuNCEMENT

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. During the year ended March 31, 2025, MCA has not notified any new
standards or amendments to the existing standards applicable to the Company.

4. KEY ACCOuNTING JuDGEMENTS', CRITICAL ESTIMATES AND ASSuMpTIONS

The preparation of the Company's standalone financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenue, expenses, assets, liabilities and the accompanying disclosures along
with contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require material
adjustments to the carrying amount of assets or liabilities affected in future periods. The Company continually evaluates these
estimates and assumptions based on the most recently available information.

In particular, information about significant areas of estimates and judgments in applying accounting policies that have the
most significant effect on the amounts recognized in the standalone financial statements are as below:

a. Assessment of functional currency.

b. Financial instruments

c. Estimates of useful lives and residual value of PPE and intangible assets

d. Impairment of financial and non-financial assets

e. Valuation of inventories

f. Measurement of Defined Benefit Obligations and actuarial assumptions

g. Allowances for uncollected trade receivable and advances

h. Provisions

i. Provisions for Current and Deferred Tax

j. Evaluation of recoverability of deferred tax assets

k. Contingencies, and

l. Determination of effective portion of Cash flow hedge

Revisions to accounting estimates are recognized prospectively in the Statement of Profit and Loss in the period in which the
estimates are revised and in any future periods affected.

Nature and Purpose of Reserve

Capital Reserve

Capital Reserve represents towards forefeiture of share warrants.

Securities Premium Account

Securities Premium represents the premium charged to the shareholders at the time of issuance of shares. Securities Premium can
be utilised based on the relevant requirements of the Act.

General Reserve

General reserve represents created out of the retained earnings permitted to be distributed to shareholders as part of dividend.

Retained earnings

Retained earnings represent the amount of accumulated earnings of the Company.

Capital redemption reserve

In accordance with Section 69 of the Indian Companies Act, 2013, the Company creates a capital redemption reserve equal to the
nominal value of the shares bought back as an appropriation from the general reserve.

Cash flow hedge reserve

When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative
is recognized in other comprehensive income and accumulated in the cash flow hedging reserve. The cumulative gain or loss
previously recognized in the cash flow hedging reserve is transferred to the Consolidated Statement of Profit and Loss upon the
occurrence of the related forecasted transaction.

Other components of equity

Other components of equity include currency translation, remeasurement of net defined benefit liability / asset, equity instruments
fair valued through other comprehensive income, changes on fair valuation of investments,net of taxes.

Share Based Payment Reserve

The share options outstanding account is used to record the fair value of equity-settled, share-based payment transactions with
employees. The amounts recorded in share options outstanding account are transferred to securities premium upon the exercise of
stock options and transferred to the general reserve on account of stock options not exercised by employees.

43 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Risk management framework

Company's board of directors has overall responsibility for establishment of Company's risk management framework. Management
is responsible for developing and monitoring Company's risk management policies, under the guidance of Audit Committee.
Management identifies, evaluates and analyses the risks to which company is exposed to and set appropriate risk limits and controls
to monitor risks and adherence to limits.

Management periodically reviews its risk policy and systems to assess need for changes in the policies to adapt to the changes in
market conditions and align the same to the business of the Company. Management through its interaction and training to concerned
employees aims to maintain a disciplined and constructive control environment in which concerned employees understand their
roles and obligations. The Audit committee oversees how management monitors compliance with Company's risk management
policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks to which Company
is exposed. The Audit committee is assisted in its role by the internal auditor wherever required. Internal auditor undertakes both
regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the Audit committee.

company has exposure to following risks arising from financial instruments:

a) Credit risk

b) Liquidity risk

c) Market risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its
financing activities, including deposits with banks, mutual funds and financial institutions, foreign exchange transactions and
other financial instruments.

The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit standards and financial
strength. The Company's exposure and credit ratings of its counterparties are continuously monitored and the aggregate value
of transactions is reasonably spread amongst the several counterparties.

Credit risk arising from derivative financial instruments and other balances with banks is limited and there is no collateral held
against these because the counterparties are banks and recognised financial institutions with high credit ratings assigned by
the reputed credit rating agencies.

As regards, credit risk for investment in equity shares, the Company limits its exposure to credit risk by investing mainly in scrips
which are of high credibility. Company monitors changes in credit risk by tracking published external credit ranking. Based on
its on-going assessment of counterparty risk, Company adjusts its exposure to various counterparties from time to time.

As regards, credit risk for investment in mutual funds, the Company limits its exposure to credit risk by investing mainly in debt
securities issued by mutual funds which are of high credit ranking from rating agency like CRISIL or the equivalent rating agency.
Company monitors changes in credit risk by tracking published external credit ranking. Based on its on-going assessment of
counterparty risk, Company adjusts its exposure to various counterparties from time to time.

Credit risk from Trade receivables is managed by the Company's established policy, procedures and control relating to customer
credit risk management. Trade receivables are mainly from reputed debtors and are non-interest bearing. Trade receivables
generally ranges from 30 - days to 180- days credit term. Credit limits are established for all customers based on internal criteria
and any deviation in credit limit requires approval of Head of the department and / or Directors depending upon the quantum
and overall business risk. Majority of the customers have been doing business with the company for more than 3 years and
they are being monitored by individual business managers who deals with those customers. Management monitors trade
receivables on regular basis and takes suitable action where needed to control the receivables crossing set criteria / limits.

Management does an impairment analysis at each reporting date on an individual basis for major clients. In addition, a large
number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. Further, the
Company's customers base is widely distributed both economically as well as geographically and in view of the same, the
quantum risk also gets spread across wide base and hence management considers risk with respect to trade receivable as low.

For trade receivables, as a practical expedient, the Company computes credit loss allowance based on a provision matrix. The
provision matrix is prepared based on historically observed default rates over the expected life of trade receivables and is
adjusted for forward-looking estimates.

Liquidity risk is the risk that Company may not be able to meet its present and future cash and collateral obligations without
incurring unacceptable losses. Company's objective is to, at all times maintain optimum levels of liquidity to meet its cash and
collateral requirements. Company closely monitors its liquidity position and deploys a robust cash management system.

The Company has an established liquidity risk management framework for managing its short term, medium term and long
term funding and liquidity management requirements. The Company manages the liquidity risk by maintaining adequate
funds in cash and cash equivalents. The Company also has adequate credit facilities agreed with banks to ensure that there
is sufficient cash or cash equivalent available to meet all its normal operating commitments in a timely and cost-effective
manner. Working capital requirements are adequately addressed by internally generated funds and through working capital
loans available from various banks. Trade receivables are kept within manageable levels. Company aims to maintain the level of
its cash and cash equivalents and other highly marketable debt investments at an amount in excess of expected cash outflows
on financial liabilities over the next three to six months.

c) 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 risks;

i) Interest rate risk

ii) Currency risk and;

iii) Equity price risk

Financial instruments affected by market risk includes borrowings, investments, trade payables, trade receivables, loans and
derivative financial instruments.

The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while
optimizing the return.

i) Interest rate risk

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Any movement in the
reference rates could have an impact on the Company's cash flows as well as costs. The Company is subject to variable
interest rates on some of its interest bearing liabilities. The Company's interest rate exposure is mainly related to debt
obligations. The Company has not used any interest rate derivatives.

Based on the composition of debt as at March 31, 2025 and March 31, 2024 a 100 basis points increase in interest rates
would increase the Company's finance costs and thereby consequently reduce net profit before tax by approximately
' 347.65 Lakhs for the year ended March 31,2025 (March 31,2024'330.07 Lakhs).

ii) Foreign Currency risk

The Company's foreign exchange risk arises from its foreign operations, foreign currency revenues, foreign currency
expenses and foreign currency borrowings. Primarily, the exposure in foreign currencies are denominated in USD. As
a result, if the value of the Indian rupee appreciates relative to these foreign currencies, the Company's revenues and
expenses measured in Indian rupees may decrease or increase and vice-versa. The exchange rate between the Indian
rupee and USD have changed substantially in recent periods and may continue to fluctuate substantially in the future.
Consequently, the Company uses foreign exchange forward contracts and foreign currency financial liabilities, to mitigate
the risk of changes in foreign currency exchange rates in respect of its highly probable forecasted transactions and
recognized assets and liabilities.

Details of Hedged exposure in foreign currency denominated monetary items.

The Company enters into forward exchange contracts to hedge against its foreign currency exposure relating to the
underlying transactions and based on past performance. The Company does not enter into any derivative instruments for
trading or speculative purpose.

cash Flow Hedged Accounting:

The Company designates its derivative contracts that hedge foreign exchange risk associated with its highly probable
forecasted transactions as cash flow hedges and measures them at fair value. The effective portion of such cash flow
hedges is recorded as in other comprehensive income, and re-classified in the income statement as revenue in the period
corresponding to the occurrence of the forecasted transactions. The ineffective portion of such cash flow hedges is
immediately recorded in the statement of profit and loss.

iii. Equity Price risk

The Company's exposure to equity price risk arises from investments in equity shares mutual funds held by the Company
and classified in the balance sheet as fair value through OCI. To manage its price risk arising from investments in equity
shares and mutual funds, the Company diversifies its portfolio. Diversification of the portfolio is done in accordance with
the limits set by the Company.

Sensitivity

The sensitivity to profit or loss in case of an increase in price of the instrument by 5% keeping all other variables constant
would have resulted in an impact on profits by ' 93.65 Lakhs (March 31, 2024 ' 131.20 Lakhs).

44 CAPITAL MANAGEMENT

Capital of the company, for the purpose of capital management, includes issued equity capital and all other equty reserves
attributable to equity holders of the company. The primary objective of the company's capital mangement is to maximise
shareholders value.

The company monitors capital using a gearing ratio which is net Dividend by total capital plus net debt.

Provident Fund

The Honourable Supreme Court, has passed a decision on 28th February, 2019 in relation to inclusion of certain allowances
within the scope of "Basic wages" for the purpose of determining contribution to provident fund under the Employees'
Provident Funds & Miscellaneous Provisions Act, 1952. The Company, based on legal advice, is awaiting further clarifications
in this matter in order to reasonably assess the impact on its financial statements, if any. Accordingly, the applicability of the
judgement to the Company, with respect to the period and the nature of allowances to be covered, and resultant impact on the
past provident fund liability, cannot be reasonably ascertained, at present.

(The contingent liabilities, if materialised, shall entirely be borne by the company, as there is no likely reimbursement from
any other party.)

Foreseeable Losses

The Company has a process whereby periodically all long term contracts are assessed for material foreseeable losses. At the
year end, the Company has reviewed and ensured that adequate provision as required under any law/ applicable accounting
standards for material foreseeable losses on such long term contracts has been made in the books of account.

Note on pending litigations

The Company has reviewed its pending litigations and proceedings and has adequately provided for where provisions are
required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect
the outcome of these proceedings to have a materially adverse effect on its financial statements.

54 EMPLOYEE STOCK OPTION PLAN ("ESOP 2021")

A During the financial year 2021-22, the Company had introduced and implemented the RGL Employee Stock Option Plan
2021 ('RGL ESOP 2021' / 'Scheme') to create, grant, offer, issue and allot at any time in one or more tranches such number of
stock options not exceeding 5,00,000 equity shares of face value of ' 10 each, convertible into Equity Shares of the Company
("Options") to the eligible employees of the Company and its subsidiary company.

Pursuant to Sub-division / Stock split of 1 (One) Equity Share of face value of ' 10/- (Rupees Ten Only) each into 5 (Five) Equity
Shares of face value of ' 2/- on July 20, 2022, the size of the RGL ESOP 2021 has been revised to 25,00,000 equity shares of face
value of '2/- each, convertible into Equity Shares of the Company ("Options").

Net Preferential Issue proceeds which were un-utilised as at March 31, 2025 were temporarily invested in Fixed Deposit
amounting to ' 6,024.16 and ' 6.94 Lakhs Balance in ESCROW account.

58 OTHER STATUTORY INFORMATION
DETAILS OF BENAMI PROPERTY HELD

The company does not hold any benami property as defined under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)
and the rules made thereunder. No proceeding has been initiated or pending against the company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

RELATIONSHIP WITH STRUCK OFF COMPANIES

The Company do not have any transactions with struck off companies under Section 248 of the Companies Act, 2013 or Section
560 of Companies Act, 1956.

willful defaulter

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

REGISTRATION OF cHARGES OR SATISFACTION WITH REGISTRAR OF cOMpANIES

The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) beyond
the statutory period. There are certain charges which involve practical challenges in obtaining no-objection certificates (NOCs)
from the charge holders of such charges, despite repayment of the underlying loans. The Company is in the continuous process
of filing the charge satisfaction e-form with MCA, within the timelines, as and when it receives NOCs from the respective
charge holders.

DETAILS OF cRYpTO currency OR VIRTuAL currency

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

The company has not advanced or loaned or invested funds to any other person or entity, 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.

The Company has not received any fund from any person or entity, 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.

undisclosed income

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

borrowings obtained on the basis of security of current assets

For the borrowings secured against current assets ,the company has filed Quarterly statements of current assets with the banks
and the same are in agreement with the books of accounts.

utilisation of borrowed funds and share premium

As on March 31, 2025 the borrowed funds have been utilised for the specific purpose for which the funds were raised.

revaluation of property, plant and equipment and intangible assets

The Company has not revalued any of its property, plant and equipment (including Right of Use assets) and intangible assets
during the year.

compliance with number of layers of companies

The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read
with the Companies ( Restriction on number of Layers) Rules, 2017.

59 EVENTS OccuRING AFTER THE BALANcE SHEET DATE

No adjusting events have occurred between the reporting date and the date of authorization.

After the end of financial year, the Board of Director at its meeting held on April 14, 2025 has approved the closure of
manufacturing unit at the Bhavnagar, Gujarat w.e.f April 15, 2025 for rebalancing the Company's manufacturing capacities
in line with current product mix and manufacturing requirements of the RGL Group. The aforesaid event is considered as
significatnt non adjusting event as per Ind-As 10.

60 previous year figures

Previous year's figures are regrouped / rearranged / recast wherever considered necessary.

As per our report of even date For and on behalf of the board of directors of

For chaturvedi & Shah LLp Renaissance Global Limited

Chartered Accountants

Firm Registration No. 101720W/W100355

Lalit R. Mhalsekar Darshil A. Shah Hitesh M. Shah

Partner Managing Director Director

Membership No : 103418 DIN No. 08030313 ^{DIN N}°. ^00036338

Vishal A. Dhokar Dilip B. Joshi

Company Secretary Chief Financial Officer

Place: Mumbai Place: Mumbai

Date : May 30, 2025 Date : May 30, 2025