3.16 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 the Company will be
required to settle the obligation, and a reliable estimate
can be made of the amount of the obligation.

The amount recognised as a provision is the best
estimate of the consideration required to settle the
present obligation at the end of the reporting period,
taking into account the risks and uncertainties
surrounding the obligation. When a provision is
measured using the cash flows estimated to settle the
present obligation, its carrying amount is the present
value of those cash flows (when the effect of the time
value of money is material).

When some or all of the economic benefits required to
settle a provision are expected to be recovered from a
third party, a receivable is recognised as an asset if it
is virtually certain that reimbursement will be received
and the amount of the receivable can be measured
reliably.

3.17 Contingent liabilities

Contingent liability is a possible obligation arising 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 entity or a present obligation that arises
from past events but is not recognized 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.

Contingent liabilities acquired in a business
combination are initially measured at fair value at the
acquisition date. At the end of subsequent reporting
periods, such contingent liabilities are measured at
the higher of the amount that would be recognised
in accordance with Ind AS 37 and the amount initially
recognised less cumulative amortisation recognised in
accordance with Ind AS 115 Revenue from contracts
with customers.

3.18 Earnings per Share

Basic earnings per share is computed by dividing the
profit/(loss) after tax (including the post tax effect of
exceptional items, if any) by the weighted average
number of equity shares outstanding during the year.
The weighted average number of ordinary shares
outstanding during the year is number of shares
outstanding at the beginning of the year, adjusted by
the number of ordinary shares issued during the year
multiplied by a time-weighting factor.

Diluted earnings per share is computed by dividing the
profit/(loss) after tax (including the post-tax effect of
extraordinary items, if any) as adjusted for dividend,
interest and other charges to expense or income
(net of any attributable taxes) relating to the dilutive
potential equity shares, by the weighted average
number of equity shares considered for deriving basic
earnings per share and the weighted average number
of equity shares which could have been issued on
the conversion of all dilutive potential equity shares.
Potential equity shares are deemed to be dilutive only
if their conversion to equity shares would decrease the
net profit per share from continuing ordinary operations.
Potential dilutive equity shares are deemed to be
converted as at the beginning of the period, unless
they have been issued at a later date. The dilutive
potential equity shares are adjusted for the proceeds
receivable had the shares been actually issued at fair
value (i.e. average market value of the outstanding
shares). Dilutive potential equity shares are determined
independently for each period presented. The number
of equity shares and potentially dilutive equity shares
are adjusted for share splits/reverse share splits and
bonus shares, as appropriate.

3.19 Financial instruments

Financial assets and financial liabilities are recognised
when a Company becomes a party to the contractual
provisions of the instruments.

Financial assets and financial liabilities are initially
measured at fair value. Transaction costs that are
directly attributable to the acquisition or issue of
financial assets and financial liabilities (other than
financial assets and financial liabilities at fair value
through profit and loss) are added to or deducted from
the fair value of the financial assets or financial liabilities,
as appropriate, on initial recognition. Transaction
costs directly attributable to the acquisition of financial
assets or financial liabilities at fair value through profit
and loss are recognised immediately in statement of
profit and loss.

3.19.1 Financial assets

Excluded are trade accounts receivables. At initial
recognition trade accounts receivables (in accordance
with Ind AS 115) are measured at their transaction
price and subsequently measured at carrying value as
of initial recognition less impairment allowance (if any)

Investments in equity instruments are recognized and
subsequently measured at fair value. The Company's
equity investments are not held for trading. In general,
changes in the fair value of equity investments are
recognized in the income statement. However, at initial
recognition the Company elected, on an instrument-by¬
instrument basis, to represent subsequent changes in
the fair value of individual strategic equity investments
in other comprehensive income/(loss) (“OCI”).

The Company's investment in debt securities with
the objective to achieve both collecting contractual
cash flows and selling the financial assets, and initially
measured at fair value. Some of these securities give
rise on specified dates to cash flows that are solely
payments of principal and interest. These securities
are subsequently measured at FVOCI. Other securities
are measured at FVPL.

Cash and cash equivalents

The Company considers all highly liquid financial
instruments which are readily convertible into known
amounts of cash that are subject to an insignificant
risk of change in value and having original maturities
of three months or less from the date of purchase,

to be cash equivalents. Cash and Cash Equivalents
consist of balances with banks which are unrestricted
for withdrawal and usage. Restricted cash and bank
balances are classified and disclosed as other bank
balances.

Amortised cost and effective interest method

The effective interest method is a method of calculating
the amortised cost of a debt instrument and of
allocating interest income over the relevant period.
The effective interest rate is the rate that exactly
discounts estimated future cash receipts (including all
fees and points paid or received that form an integral
part of the effective interest rate, transaction costs and
other premiums or discounts) through the expected
life of the debt instrument, or, where appropriate, a
shorter period, to the net carrying amount on initial
recognition.

Income is recognised on an effective interest basis
for debt instruments other than those financial assets
classified as at FVTPL. Interest income is recognised
in the statement of profit and loss and is included in
the “Other income” line item.

Instruments at FVTOCI

On initial recognition, the Company can make an
irrevocable election (on an instrument-by-instrument
basis) to present the subsequent changes in fair
value in other comprehensive income pertaining to
investments in equity instruments. This election is not
permitted if the equity investment is held for trading.
These elected investments are initially measured at
fair value plus transaction costs. Subsequently, they
are measured at fair value with gains and losses
arising from changes in fair value recognised in
other comprehensive income and accumulated in
the ‘Reserve for equity instruments through other
comprehensive income'. The cumulative gain or loss
is not reclassified to statement of profit and loss on
disposal of the investments.

A financial asset is held for trading if:

- I t has been acquired principally for the purpose of
selling it in the near term; or

- On initial recognition it is part of a portfolio of
identified financial instruments that the Company
manages together and has a recent actual
pattern of short-term profit-taking; or

- it is a derivative that is not designated and
effective as a hedging instrument or a financial
guarantee.

Dividends on these investments in equity instruments
are recognised in statement of profit and loss when
the Company's right to receive the dividends is
established, it is probable that the economic benefits
associated with the dividend will flow to the entity, the
dividend does not represent a recovery of part of cost
of the investment and the amount of dividend can be
measured reliably. Dividends recognised in statement
of profit and loss are included in the ‘Other income'
line item.

Impairment of financial assets

The Company applies the expected credit loss model
for recognising impairment loss on financial assets
measured at amortised cost, debt instruments at
FVTOCI, lease receivables, trade receivables, other
contractual rights to receive cash or other financial
asset, and financial guarantees not designated as at
FVTPL.

The expected credit loss approach requires that all
impacted financial assets will carry a loss allowance
based on their expected credit losses. Expected credit
losses are a probability-weighted estimate of credit
losses over the contractual life of the financial assets.

For trade receivables or any contractual right to
receive cash or another financial asset that result
from transactions that are within the scope of Ind AS
115, the Company measures the loss allowance at an
amount equal to lifetime expected credit losses.

The impairment provisions for trade receivables is
based on reasonable and supportable information
including historic loss rates, present developments
such as liquidity issues and information about future
economic conditions, to ensure foreseeable changes in
the customer-specific or macroeconomic environment
are considered.

Significant increase in credit risk

i n assessing whether the credit risk on a financial
instrument has increased significantly since initial
recognition, the Company compares the risk of a
default occurring on the financial instrument at the
reporting date with the risk of a default occurring

on the financial instrument at the date of initial
recognition. In making this assessment, the Company
considers both quantitative and qualitative information
that is reasonable and supportable, including historical
experience and forward-looking information that is
available without undue cost or effort. Forward-looking
information considered includes the future prospects
of the industries in which the Company's debtors
operate, obtained from economic expert reports,
financial analysts, governmental bodies, relevant
think-tanks and other similar organisations, as well
as consideration of various external sources of actual
and forecast economic information that relate to the
Company's core operations.

Derecognition of financial assets
The Company derecognises a financial asset when
the contractual rights to the cash flows from the asset
expire, or when it transfers the financial asset and
substantially all the risks and rewards of ownership
of the asset to another party. If the Company neither
transfers nor retains substantially all the risks and
rewards of ownership and continues to control
the transferred asset, the Company recognises its
retained interest in the asset and an associated liability
for amounts it may have to pay. If the Company retains
substantially all the risks and rewards of ownership of
a transferred financial asset, the Company continues
to recognise the financial asset and also recognises a
collateralised borrowing for the proceeds received.

Foreign exchange gains and losses

The fair value of financial assets denominated in a
foreign currency is determined in that foreign currency
and translated at the spot rate at the end of each
reporting period.

- For foreign currency denominated financial
assets measured at amortised cost and FVTPL,
the exchange differences are recognised in
statement of profit and loss except for those
which are designated as hedging instruments in
a hedging relationship.

- Changes in the carrying amount of investments in
equity instruments at FVTOCI relating to changes
in foreign currency rates are recognised in other
comprehensive income.

Net gain/(loss) on foreign currency transactions and
translation during the year recognised in the statement
of Profit and Loss account is presented under Other
Income.

3.19.2 Financial liabilities and equity instruments
Classification as debt or equity

Debt and equity instruments issued by a Company
are classified as either financial liabilities or as equity
in accordance with the substance of the contractual
arrangements and the definitions of a financial liability
and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences
a residual interest in the assets of an entity after
deducting all of its liabilities. Equity instruments
issued by a Company are recognised at the proceeds
received, net of direct issue costs.

Repurchase of the Company's own equity instruments
is recognised and deducted directly in equity. No gain
or loss is recognised in statement of profit and loss
on the purchase, sale, issue or cancellation of the
Company's own equity instruments.

Financial liabilities

All financial liabilities are subsequently measured at
amortised cost using the effective interest method.

In general, financial liabilities are classified and
subsequently measured at amortized cost, with the
exception of contingent considerations resulting from
a business combination, non controlling interests
subject to put provisions as well as derivative financial
liabilities

Financial liabilities subsequently measured at
amortised cost

The carrying amounts of financial liabilities that
are subsequently measured at amortised cost are
determined based on the effective interest method.
Interest expense that is not capitalised as part of
costs of an asset is included in the ‘Finance costs' line
item.

The effective interest method is a method of
calculating the amortised cost of a financial liability and
of allocating interest expense over the relevant period.
The effective interest rate is the rate that exactly
discounts estimated future cash payments (including
all fees and points paid or received that form an integral
part of the effective interest rate, transaction costs and
other premiums or discounts) through the expected
life of the financial liability, or (where appropriate) a
shorter period, to the net carrying amount on initial
recognition.

Financial guarantee contracts

A financial guarantee contract is a contract that
requires the issuer to make specified payments to
reimburse the holder for a loss it incurs because a
specified debtor fails to make payments when due in
accordance with the terms of a debt instrument.
Financial guarantee contracts issued by a Company
are initially measured at their fair values and, if not
designated as at FVTPL, are subsequently measured
at the higher of:

- the amount of loss allowance determined in
accordance with impairment requirements of Ind
AS 109; and

- the amount initially recognised less, when
appropriate, the cumulative amount of income
recognised in accordance with the principles of
Ind AS 115.

Derecognition of financial liabilities

The Company derecognises financial liabilities when,
and only when, the Company's obligations are
discharged, cancelled or have expired. An exchange
with a lender of debt instruments with substantially
different terms is accounted for as an extinguishment
of the original financial liability and the recognition
of a new financial liability. Similarly, a substantial
modification of the terms of an existing financial
liability is accounted for as an extinguishment of the
original financial liability and the recognition of a new
financial liability. The difference between the carrying
amount of the financial liability derecognized and the
consideration paid and payable is recognised in the
statement of profit and loss.

3.19.3 Derivative financial instruments

The Company enters into a variety of derivative financial
instruments to manage its exposure to interest rate
and foreign exchange rate risks, including interest rate
swaps and cross currency swaps.

Derivatives are initially recognised at fair value at the
date the derivative contracts are entered into and are
subsequently remeasured to their fair value at the end
of each reporting period. Derivatives are carried as
financial assets when the fair value is positive and as
financial liabilities when the fair value is negative.

The change in fair value of derivatives is recorded in
the statement of profit and loss.

Derivatives embedded in host contracts are
accounted for as separate derivatives if their economic
characteristics and risks are not closely related to those
of the host contracts. These embedded derivatives
are measured at fair value with changes in fair value
recognized in the statement of profit and loss.

3.20 Segment Reporting

In accordance with Ind AS 108, Operating Segments,
the Company's chief operating decision maker
(“CODM”) has been identified as the board of
directors.

The Company is engaged only in Healthcare business
and therefore the Company's CODM (Chief Operating
Decision Maker; which is the Board of Directors of
the Company) decided to have only one reportable
segment from previous year in accordance with IND
AS 108 “Operating Segments”.

3.21 Non Current Asset Held for Sale

The Company classifies non-current assets held for sale
if their carrying amounts will be principally recovered
through a sale rather than through continuing use of
assets and action required to complete such sale
indicate that it is unlikely that significant changes to the
plan to sell will be made or that the decision to sell will
be withdrawn. Also, such assets are classified as held
for sale only if the management expects to complete
the sale within one year from the date of classification.

Non-current assets held for sale are measured at the
lower of carrying amount and the fair value less cost

to sell. Non-current assets are not depreciated or
amortised.

3.21.1 Discontinued operations

A discontinued operation is a ‘component' of the
Company's business that represents a separate line
of business that has been disposed of or is held
for sale, or is a subsidiary acquired exclusively with
a view to resale. Classification as a discontinued
operation occurs upon the earlier of disposal or when
the operation meets the criteria to be classified as
held for sale.

The Company considers the guidance in Ind AS 105
Non-Current assets held for sale and discontinued
operations to assess whether a divestment asset
would qualify the definition of ‘component' prior to
classification into discontinued operation.

3.22 Government Grants

Government grants are not recognised until there is
reasonable assurance that the Company will comply
with the conditions attaching to them and that the
grants will be received.

Government grants are recognised in statement of
profit and loss on a systematic basis over the periods
in which the Company recognises as expenses
the related costs for which the grants are intended
to compensate. Specifically, government grants
whose primary condition is that the Company should
purchase, construct or otherwise acquire non-current
assets are recognised as deferred revenue in the
balance sheet and transferred to statement of profit
and loss on a systematic and rational basis over the
useful lives of the related assets.

Government grants that are receivable as
compensation for expenses or losses already incurred
or for the purpose of giving immediate financial
support to the Company with no future related costs
are recognised in the statement of profit and loss in the
period in which they become receivable.

3.23 Dividend

A final dividend, including tax thereon, on equity
shares is recorded as a liability on the date of approval
by the shareholders. An interim dividend, including

tax thereon, is recorded as a liability on the date of
declaration by the board of directors.

3.24 Operating Cycle

Based on the nature of products/activities of the
Company and the normal time between acquisition of
assets and their realisation in cash or cash equivalents,
the Company has determined its operating cycle as 12
months for the purpose of classification of its assets
and liabilities as current and non-current.

| CRITICAL ACCOUNTING JUDGEMENTS AND
KEY SOURCES OF ESTIMATION UNCERTAINTYUse of estimates

The preparation of these standalone financial
statements in conformity with Ind AS requires
management to make estimates and assumptions that
affect the reported amounts of assets and liabilities,
disclosures of contingent assets and liabilities at the
balance sheet dates and the reported amounts of
revenues and expenses during the reporting periods.
Significant estimates and assumptions reflected in the
Company's financial statements include, but are not
limited to, expected credit loss, impairment of goodwill,
useful lives of property, plant and equipment and
leases, realization of deferred tax assets, unrecognized
tax benefits, incremental borrowing rate of right-of-use
assets and related lease obligation, the valuation of
the Company's acquired equity investments. Actual
results could materially differ from those estimates.

4.1 Key sources of estimation uncertainty

The following are the key assumptions concerning the
future, and other key sources of estimation uncertainty
at the end of the reporting period that may cause a
material adjustment to the carrying amounts of assets
and liabilities within the next financial year.

4.1.1 Impairment of Financial Assets

The impairment provisions for trade receivables is
based on assumptions about risk of default and
expected loss rates. The Company uses judgements
in making certain assumptions and selecting inputs
to determine impairment of these trade receivables,
based on the reasonable and supportable information

including historic loss rates, present developments
such as liquidity issues and information about future
economic conditions, to ensure foreseeable changes in
the customer-specific or macroeconomic environment
are considered.

4.1.2 Impairment of investments in subsidiaries,
associates and joint ventures:

The Company conducts impairment reviews
of investments in subsidiaries/associates/joint
arrangements whenever events or changes in
circumstances indicate that their carrying amounts
may not be recoverable or tests for impairment
annually. Determining whether an asset is impaired
requires an estimation of the recoverable amount,
which requires the Company to estimate the value
in use determined using a discounted cash flow
approach based upon the cash flow expected to be
generated by the investment. In case that the value in
use of the investment is less than its carrying amount,
the difference is at first recorded as an impairment of
the carrying amount of the goodwill.

4.1.3 Employee Benefits - Defined benefit plans

The cost of the defined benefit plans are based on
actuarial valuation using the projected unit credit
method. 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, attrition and
mortality rates. 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.

4.1.4 Litigations

The amount recognised as a provision is the
management's best estimate of the expenditure
required to settle the present obligation arising at the
reporting period.

4.1.5 Revenue Recognition

The Company's contracts with customers could include
promises to render multiple services to a customer.

The Company assesses the services promised in a
contract and identifies distinct performance obligations
in the contract. Identification of distinct performance
obligation involves judgement to determine the
deliverables and the ability of the customer to benefit
independently from such deliverables.

Judgement is applied in the assessment of principal
versus agent considerations with respect to contracts
with customers and doctors which is determined
based on the substance of the arrangement.
Judgement is also applied to determine the transaction
price of the contract. The transaction price shall
include a fixed amount of customer consideration
and components of variable consideration which
constitutes amounts payable to customer, discounts,
commissions, disallowances and redemption patterns
of loyalty point by the customers. The estimated
amount of variable consideration is adjusted in the
transaction price only to the extent that it is highly
probable that a significant reversal in the amount of
cumulative revenue recognised will not occur and is
reassessed at the end of each reporting period.

4.1.6 Useful lives of property plant and equipment

The Company depreciates property, plant and
equipment on a straight-line basis over estimated
useful lives of the assets. The charge in respect of
periodic depreciation is derived based on an estimate
of an asset's expected useful life and the expected
residual value at the end of its life. The lives are based
on historical experience with similar assets as well as
anticipation of future events, which may impact their
life, such as changes in technology. The estimated
useful life is reviewed at least annually.

4.1.7 Point of Capitalisation

Management has set in parameters in respect of its
medical equipment specific to the stability and reaching
the contractual availability goals. The property, plant &
equipment shall be capitalised upon reaching these
parameters at which stage the asset is brought to the
location and condition necessary for it to be capable
of operating in the manner intended by management.
In respect of internally generated intangible assets,
management has defined the criteria for capitalisation
based on the version released for each feature to be
deployed on the digital platform. The point in time
at which the version release contain all the essential
features as defined by the management and qualifies
to be a Minimum Viable Product (MVP), the feature is
considered eligible for capitalisation.

4.1.8 Impairment of Non - Financial Assets

Determining whether the asset is impaired requires to
assess the recoverable amount of the asset or Cash
Generating Unit (CGU) which is compared to the
carrying amount of the asset or CGU, as applicable.
Recoverable amount is the higher of fair value less
costs of disposal and value in use. Where the carrying
amount of an asset or CGU exceeds the recoverable
amount, the asset is considered impaired and is
written down to its recoverable amount.

4.1.9 Leases

Ind AS 116 defines a lease term as the non-cancellable
period for which the lessee has the Right-to- use an
underlying asset including optional periods, when an
entity is reasonably certain to exercise an option to
extend (or not to terminate) a lease. The Company
considers all relevant facts and circumstances that
create an economic incentive for the lessee to exercise
the option when determining the lease term. The option
to extend the lease term is included in the lease term, if
it is reasonably certain that the lessee would exercise
the option. The Company reassesses the option when
significant events or changes in circumstances occur
that are within the control of the lessee.

Trade receivables represent the amount outstanding on sale of pharmaceutical products, hospital services and project
consultancy fees which are considered as good by the management. The Company believes that the carrying amount of
allowance for expected credit loss with respect to trade receivables is adequate.

Majority of the Company's transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of
receivables from insurance companies, corporate customers and government undertakings (both domestic and international).

Customer Concentration

No single customer represents 10% or more of the Company's total revenue during the year ended March 31, 2026 and
March 31,2025. Therefore the customer concentration risk is limited due to the large and unrelated customer base.
Impairment Methodology

The Company has used a practical expedient by computing the expected credit loss allowance for receivables based on a
provision matrix. The provision matrix takes into account historical credit loss experience and is adjusted for forward looking
information. The expected credit loss allowance is based on the ageing of the days the receivables are due and the rates as
given in the provision matrix.

17.2 Rights, preferences and restrictions attached to equity shares

The Company has equity shares having a nominal value of ' 5 each. All equity shares rank equally with regard to dividend
and share in the Company's residual assets. Each holder of equity shares is entitled to one vote per share. The equity
shares are entitled to receive dividend as declared from time to time. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General Meeting, except interim dividend. In the event
of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by
shareholders.

Fair value changes on equity instruments through other comprehensive income represent cumulative unrealised gains
and losses on equity investments designated at FVOCI, recognised in other comprehensive income.

18.9 Capital management

The Company's capital management objective is to ensure adequate return to the shareholder by maintaining the
optimal capital structure. The Company's policy is to maintain a strong capital base so as to maintain investor, creditor
and market confidence and to sustain future development of the business. It sets the amount of capital required on the
basis of annual business and long-term operating plans which include capital and other strategic investments.

For the purpose of the Company's capital management, capital includes issued equity capital and all other equity
reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management
is to maximise the shareholder value.

Management assesses the Company’s capital requirements in order to maintain an efficient overall financing structure
while avoiding excessive leverage. The Company manages the capital structure and makes adjustments to it in the light
of changes in economic conditions and the risk characteristics of the underlying assets.

The Company’s net debt to adjusted equity ratio is as follows:

(i) There is no breach of loan covenants as at March 31,2026 and March 31,2025

(ii) The Company has used the borrowings from banks and financial institutions for the purpose for which it was taken as
at March 31,2026 and March 31,2025

(iii) The Company has sanctioned facilities from banks on the basis of security of current assets. The periodic returns filed
by the Company with such banks are in agreement with the books of accounts of the Company

(iv) The Company has adhered to debt repayment and interest service obligations on time. The Company has not been
declared wilful defaulter by any bank or financial institution or other lender.

(v) All borrowings are in Indian Rupee

(i) Amounts payable to related parties is disclosed in note 44.1

(ii) The information pertaining to liquidity risks related to trade payables is disclosed in note 42.

(iii) The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26, 2008 which
recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the
Entrepreneurs Memorandum Number as allocated after filing of the Memorandum. Accordingly, the disclosure in respect
of the amounts payable to such enterprises as at March 31,2026 has been made in the financial statements based on
information received and available with the Company. Further in view of the management, the impact of interest, if any,
that may be payable in accordance with the provisions of the Micro, Small and Medium Enterprises Development Act,
2006 (‘The MSMED Act') is not expected to be material. The Company has not received any claim for interest from any
supplier.

BcCT EMPLOYEE BENEFIT PLANS
Defined contribution plans

The Company makes contributions towards provident fund and employees state insurance as a defined contribution retirement
benefit fund for qualifying employees. The provident fund is operated by the regional provident fund commissioner. The
amount recognised as expense towards contribution to provident fund amount was ' 500 million (Previous year ' 505 million).
The Employee state insurance is operated by the Employee State Insurance corporation. Under these schemes, the Company
is required to contribute a specific percentage of the payroll cost as per the statute. The amount recognised as expense
towards contribution to Employee State Insurance was ' 33 million (Previous year ' 50 million).

The Company has no further obligations with respect to these contribution plans.

W3M DEFINED BENEFIT PLANSGratuity

The Company operates post-employment defined benefit plan that provide gratuity. The gratuity plan entitles an employee,
who has rendered at least five years of continuous service, to receive one-half month's salary for each year of completed
service at the time of retirement/exit. The Company's obligation in respect of the gratuity plan, which is a defined benefit plan,
is provided for based on actuarial valuation carried out by an independent actuary using the projected unit credit method.
The Company recognizes actuarial gains and losses immediately in other comprehensive income, net of taxes. The Company
accrues gratuity as per the provisions of the Code of Social Security, 2020 as applicable as at the balance sheet date.

The Company contributes all ascertained liabilities towards gratuity to the Fund. The plan assets have been primarily invested
in insurer managed funds. The Company provides for gratuity, a defined benefit retiring plan covering eligible employees. The
Gratuity plan provides a lump sum payment to the vested employees at retirement, death, incapacitation or termination of
employment based on the respective employees salary and tenure of the employment with the Company.

41.1 Financial risk management objectives

The Company's Corporate Treasury function provides services to the business, co-ordinates access to domestic and
international financial markets, monitors and manages the financial risks relating to the operations of the Company
through internal risk reports which analyse exposures by degree and magnitude of risks. These risks include market risk
(including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

The Company's exposure to credit risk is primarily from trade receivables which are in the ordinary course of business
influenced mainly by the individual characteristic of each customer.

The Company's exposure to currency risk is on account of borrowings and other credit facilities denominated in currency
other than Indian Rupees. The Company seeks to minimize the effects of these risks by using derivative financial
instruments to hedge risk exposures. The use of financial derivatives is governed by the Company's policies approved
by the board of directors, which provide written principles on foreign exchange risk, interest rate risk, credit risk, the use
of financial derivatives and non -derivative financial instruments, and the investment of excess liquidity. Compliance with
policies and exposure limits is reviewed by the internal auditors on a continuous basis. The Company does not enter into
or trade financial instruments, including derivative financial instruments, for speculative purposes.

The Corporate Treasury function reports quarterly to the Company's risk management committee, an independent body
that monitors risks and policies implemented to mitigate risk exposures.

The Company's activities expose it to the financial risks of changes in foreign currency exchange rates and interest rates.
For the purpose of managing its exposure to foreign currency and interest rate risk, the Company enters into a variety of
derivative financial instruments, i.e. cross currency interest rate swaps.

41.2 Market risk

The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and
interest rates. The Company enters into a variety of derivative financial instruments to manage its exposure to foreign
currency risk and interest rate risk using currency cum interest swaps.

41.3 Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate
fluctuations arise. Exchange rate exposures are managed within approved policy parameters utilising forward foreign
exchange contracts

The carrying amounts of the Company's foreign currency denominated monetary assets and monetary liabilities at the
end of the reporting period are as follows.

Foreign currency sensitivity analysis

The following table details the Company's sensitivity to a 10% increase and decrease in the ' against the relevant foreign
currencies. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel
and represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity

41.4 Interest rate risk management

The Company is exposed to interest rate risk because the Company borrow funds at both fixed and floating interest rates.
The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings,
and by the use of interest rate swap contracts and forward interest rate contracts. Hedging activities are evaluated
regularly to align with interest rate views and defined risk appetite, ensuring the most cost-effective hedging strategies
are applied.

Interest rate sensitivity analysis (Variable rate instruments)

The sensitivity analyses below have been determined based on the exposure to interest rates for both derivatives
and non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis is prepared
assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year.
A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel
and represents management's assessment of the reasonably possible change in interest rates.

If interest rates had been 50 basis points higher/lower and all other variables were held constant, the Company’s:

Profit for the year ended March 31,2026 would decrease/increase by ' 91 million (Previous year-decrease/increase by
' 89 million). This is mainly attributable to the Company’s exposure to interest rates on its variable rate borrowings.
Interest rate sensitivity analysis (Interest rate swap contracts)

Under interest rate swap contracts, the Company agrees to exchange the difference between fixed and floating rate
interest amounts calculated on agreed notional principal amounts for borrowings in foreign currency. Such contracts
enable the Company to mitigate the risk of changing interest rates on the fair value of issued fixed rate debt and the cash
flow exposures on the issued variable rate debt. The average interest rate is based on the outstanding balances at the
end of the reporting period.

41.5 Equity price sensitivity analysis

As at March 31,2026 the Company has quoted investments in Indraprastha Medical Corporation Limited, investment
in associate measured at cost. Hence, the Company does not have exposure to equity price risks at the end of the
reporting period regarding this investment. Apart from this there are two other equity investments one in Karur Vysya
Bank Ltd. and another is in Cholamandalam Investment and Finance Co Ltd as at March 31,2026.

I f equity prices had been 5% higher/lower, profit for the year ended March 31, 2026 would increase/decrease by
' 1.53 million (previous year 1.24 million) as a result of the changes in fair value of equity investments which have been
designated as FVTPL.

41.6 Credit risk management

Credit risk is a risk of financial loss to the Company arising from counterparty failure to repay according to contractual terms
or obligations. Majority of the Company’s transactions are earned in cash or cash equivalents. The Trade Receivables
comprise mainly of receivables from Insurance Companies, Corporate customers, Public Sector Undertakings, State/
Central and International Governments. The Insurance Companies are required to maintain minimum reserve levels and
the Corporate Customers are enterprises with high credit ratings. Accordingly, the Company’s exposure to credit risk in
relation to trade receivables is considered low.

Before accepting any new credit customer, the Company uses an internal credit scoring system to assess the potential
customer’s credit quality and defines credit limits by customer. Limits and scoring attributed to customers are reviewed
annually. The outstanding with the debtors is reviewed periodically.

Refer Note 11 For the credit risk exposure, ageing of trade receivable and impairment methodology for financial
assets.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with
high credit-ratings assigned by international credit-rating agencies.

I n addition to the aforementioned, the Company also has credit risk exposure in respect of financial guarantee for a value
of ' 55 million issued to the bank on behalf of its subsidiary Company, Future Parking Private Limited as a security to the
financing facilities secured by the subsidiary Company. As at March 31,2026, an amount of ' 0.39 million (Previous year
' 0.39 million) has been recognised as the fair value through profit/loss.

W21 LIQUIDITY RISK MANAGEMENT

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate
liquidity risk management framework for the management of the Company’s short-term, medium-term and long-term
funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves,
banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by
matching the maturity profiles of financial assets and liabilities.

42.1 Liquidity and interest risk tables

The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed
repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the
earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows. To the extent
that interest flows are floating rate, the undiscounted amount is derived from interest rate curves at the end of thereporting period.
The contractual maturity is based on the earliest date on which the Company may be required to pay.

ECT FAIR VALUE MEASUREMENTSFair Value of Company’s financial assets and liabilities that are measured at fair value on a recurring basis

The following guidance has been followed for classification and measurement of financial assets that are measured at fair
value:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments,
traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are
traded in the stock exchanges is valued using the closing price as at the reporting period.

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

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

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.

Fair Value of Financial Assets and Financial Liabilities that are not measured at fair value (but fair value disclosure are
required)

The Company considers that the carrying amounts of financial assets and financial liabilities recognised in the financial
statements at amortized cost will reasonably approximate their fair values.

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KM PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Details of loans, guarantees and investments covered under the provisions of section 186 of the Companies Act, 2013 are
provided in notes 8,9,10 and 44.

exceptional items

The Government of India notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security,
2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the “Labour Codes ”).These Labour
Codes, which have become effective from November 21, 2025, consolidate and rationalise 29 labour laws and introduce,
among other matters, a uniform definition of “Wages”. Also, the Labour Codes have modified certain employee benefits and
eligibility conditions in respect of those benefits. Accordingly, during the year, the Company has amended its policies relating to
employee benefits and modified its employment contracts to align such benefits with the requirements of the Labour Codes.
The changes include

(i) alignment of the definition of Wages for social security contributions/provisions

(ii) revisions to compensated absences entitlement and encashment rules, and

(iii) modifications to gratuity-related terms; and take effect on and from November 21,2025.

Consequent to that, cost resulting from plan amendments amounting to ' 114 million has been recognised immediately in the
statement of profit and loss and has been classified as a part of “Exceptional Items”.

COMPETITION COMMISSION OF INDIA, VIDE ITS LETTER DATED SEPTEMBER 23, 2025, HAS ACCORDED
ÝÝits APPROVAL FOR THE PROPOSED TRANSACTION UNDER SUB-SECTION (1) OF SECTION 31 OF THE
COMPETITION ACT, 2002.

During the current year, the Board at its meeting held on 30th June 2025, subject to necessary approvals considered
and approved a Composite Scheme of Arrangement amongst, the Company (AHEL), Apollo Healthco Limited (“Transferor
Company 1 ” or “AHL”) Keimed Private Limited (“Transferor Company 2”), and Apollo Healthtech Limited (“Resultant Company”)
and their respective shareholders and creditors (“Scheme”), in accordance with the provisions of Sections 230-232 and other
applicable provisions of the Companies Act, 2013, the SEBI (LODR) Regulations, 2015 read with SEBI Master Circular dated
June 20, 2023 (SEBI/HO/CFD/POD2/P/CIR/2023/93), and other applicable rules, regulations, and circulars issued by the
regulatory authorities.

The Scheme inter alia provides for demerger of identified business undertaking (as defined in the scheme) primarily
representing the Omni channel pharmacy distribution business and digital health platform business of the Company into the
Resultant Company; the amalgamation of “Transferor Company 1” with and into the Resultant Company; the amalgamation
of “Transferor Company 2” with and into the Resultant Company; and the consequent listing of the equity shares of the
Resultant Company on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited (collectively,
“Stock Exchanges”) and admission to trading.

Competition Commission of India, vide its letter dated September 23, 2025, has accorded its approval for the proposed
transaction under sub-section (1) of Section 31 of the Competition Act, 2002.

The Board also approved a Business Framework Agreement dated June 30, 2025, between AHEL and AHL to establish a
framework of rights and restrictions pursuant to which each party shall: (i) independently pursue its respective businesses; and
(ii) collaborate and cooperate with the other for mutual benefit. Upon effectiveness of the Scheme, the rights and obligations
of AHL under this agreement will be binding on the Resultant Company.

National Stock Exchange of India Limited and BSE Limited have issued letters dated December 23 and December 24, 2025
respectively, under regulation 37 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequent
to the receipt of such letters, the Company has filed an application before the National Company Law Tribunal seeking
approval of the scheme.

I ADDITIONAL REGULATORY DISCLOSURES AS PER SCHEDULE III OF COMPANIES ACT, 2013

(i) No proceedings have 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.

(ii) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have
been filed. No registration or satisfaction is pending at the year ended March 31,2026 and March 31,2025

(iii) 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.

(iv) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources
or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”),
with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the ultimate beneficiaries except as below
During the current year ended March 31,2026, the Company had advanced a loan of ' 450 million to Apollo Health and
Lifestyle Limited (AHLL). AHLL has further advanced ' 160 million to Apollo Speciality Hospitals Private Limited.

During the current year ended March 31,2026, the Company had advanced a loan of ' 270 million to Health Axis Private
Limited (HAPL). HAPL had further invested as follows:-

(v) No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(vi) The Company has not operated in any crypto currency or Virtual Currency transactions.

(vii) There were no transactions 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.

(viii) There are transactions with the Companies whose name are struck off under Section 248 of The Companies Act, 2013
or Section 560 of the Companies Act, 1956 during the year ended March 31,2026 as below

Iaudittrail

As per the requirements of rule 3(1 ) of the Companies (Accounts) Rules 201 4 the Company uses only such accounting
software's for maintaining its books of account that have a feature of recording audit trail; except for certain instances where
audit trail feature was not enabled at its database level. However, the Company established and maintained an adequate
internal control framework over its financial reporting and based on its assessment, has concluded that the internal controls
for the year ended March 31,2026 were operating effectively.

I SUBSEQUENT EVENTS AFTER THE REPORTING PERIOD

The Board of Directors of the Company on their meeting dated May 20, 2026, recommended a final dividend of '10 per
share (of face value of ' 5/- per share) for the financial year ended March 31,2026, which is subject to members approval
at the forthcoming Annual General Meeting.

(ix) The Company has not granted loans or advances in the nature of loan to any promoters, directors, KMPs and the related
parties (As per Companies Act, 2013), which are repayable on demand or without specifying any terms or period of
repayments.

(x) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the
Companies Act, 2013.