29 In accordance with its accounting policy and past practice, the Company accrues revenue credits for urea subsidy claims pending notification/ final acceptance by ‘Fertiliser Industry Coordination Committee' (FICC), Government of India, in pursuance of the Pricing Scheme administered for nitrogenous fertilisers. The total amount receivable on account of such claims as on March 31,2026 is Rs 189.46 crores (March 31,2025 : Rs. 160.56 crores). Necessary adjustments to revenue credits so accrued will be made on issuance of notification by FICC, Government of India.

30 The Company publishes these standalone financial statements along with the consolidated financial statements. Accordingly, as per Ind AS 108 "Operating Segments", the Company has disclosed the segment information in its consolidated financial statements.

31 Related party disclosures

Name of related party as per Ind AS 24 and nature of related party relationship

1. Holding company: Sumant Investments Private Limited

2. Subsidiaries:

(i) DCM Shriram Credit and Investments Limited, Bioseed India Limited, DCM Shriram Infrastructure Limited, DCM Shriram Aqua Foods Limited, Hariyali Rural Ventures Limited, Fenesta India Limited, Shriram Bioseed Ventures Limited, Bioseed Research Philippines Inc., Bioseeds Holdings PTE. Ltd., Shriram Polytech Limited⁵, Bioseed Research USA Inc.¹, DCM Shriram Bio Enchem Ltd., DCM Shriram ProChem Ltd., DCM Shriram Ventures Ltd., Shriram Agsmart Ltd., DNV Global Private Limited², Shriram Farm Solutions Limited³, Hindusthan Speciality Chemicals Limited⁴.

1 liquidated w.e.f. December 15, 2025

2 acquired w.e.f. May 05, 2025

3 Incorporated on July 04, 2025

4 acquired w.e.f. August 26, 2025

5 Refer Note 58

(ii) Subsidiaries incorporated under section 8 of Companies Act 2013:

DCM Shriram Foundation, Shridhar Shriram Foundation

3. Associate : Renew Green (GJ Ten) Private limited

Renew Green (GJ Nine) Private limited

4. Key Managerial Persons, HUFs and close members of the family of key managerial persons:

(i) Executive Directors, HUFs, close family members of executive directors and entities where executive directors are interested (with whom transactions are there):

(a) Executive Directors

Mr. Ajay S. Shriram, Mr. Vikram S. Shriram, Mr. Ajit S. Shriram, Mr. Aditya A. Shriram, Mr. K.K. Sharma.

(b) HUFs and Close family members of executive directors

Ms. Prabha Shridhar, Mr. Anand A. Shriram , Mr. Pranav V. Shriram , Mr. Varun A. Shriram , Ms. Anuradha Bishnoi , Ms. Kavita V Shriram , Ms. Richa A. Shriram, Ms.Tara A. Shriram, Ms.Vandana A. Shriram, Ms. Nainika V. Shriram, M/s. Ajay S. Shriram (HUF), M/s. Vikram S. Shriram (HUF), and M/s. Ajit S. Shriram (HUF).

(c) Entities where executive directors are interested

Alkali Manufacturers Association of India, CSEP Research Foundation

(ii) Independent Directors and close members of the family of independent directors (with whom transactions are there): Mr. Pradeep Dinodia", Ms. Sujata Dinodia", Mr. Vimal Bhandari", Mr. Sunil Kant Munjal", Ms. Ramni Nirula*, Ms. Maya Nirula*, Justice (Retd.) Vikramjit Sen, Ms. Mrinalini Sen, Mr. Pravesh Sharma, Mr. Rabinarayan Mishra (Nominee of LIC), Mr. Pranam Wahi#, Ms. Seema Bahuguna#, Ms. Simrit Kaur#, Mr. Vipin Sondhi#, Mr. Tejpreet Singh Chopra"".

~ upto July 16, 2024

* upto February 02, 2025

# from July 16, 2024 ^^from January 18, 2025

(iii) Non executive & Non independent Directors and close members of the family of Non independent directors (with whom transactions are there): Mr. Pradeep Dinodia* and Ms. Sujata Dinodia*

*from July 16, 2024

5. Trust (with whom transactions are there):

DCM Shriram Employees' Provident Fund Trust, DCM Shriram Officers' Superannuation Fund Trust

1. Includes given to related parties [refer note 31(b)]

2. Unspent amount relates to ongoing projects for which the activites are planned in subsequent years. As per section 135(6) of the Companies Act, the said unspent amount relating to ongoing projects have been deposited in "Unspent CSR Bank account".

39 Research and development expenses included under relevant heads in the statement of profit and loss Rs. 61.79 crores (Previous year - Rs. 51.55 crores).

40 Employee share based payments (refer note 12)

The Company has an Employees Stock Purchase Scheme which is administered through DCM Shriram Employees Benefits Trust based on acquisition of shares from the market to provide equity based incentives to employees under the Scheme. The shares offered, lock-in-period and grant price may be different for different eligible participants and determined at the time of every grant of shares. The expenses related to the grant of shares under the Scheme is accounted for on the basis of the fair value (which equals to market price of the Company's share on date of grant less exercise price) of share on the date of grant and is amortized on a straight line basis over the lock-in period, if any.

44 Capital management

The Company endeavours to optimize debt and equity balance and provide adequate strength to the balance sheet. The Company monitors capital on the basis of debt equity ratio.

45 Financial risk management

The Company's activities expose it to various financial risks : Credit risk, Liquidity risk and Market risk.

45.1 Credit risk management

Credit risk arises from credit exposure to customers (including receivables and deposit), loans and other financial assets. The Company perform credit evaluation and defines credit limits for each customer/counter party. The Company also continuously reviews and monitors the same.The provision for doubtful debts or provision for impairment of investments etc is made on case to case basis, based on the information related to financial position, past history/ageing and other relevant available information about the counterparty.

The Company also makes provision for lifetime expected credit loss based on its previous experience of provision/write off in previous years.

The movement in the provision for doubtful debts and provision for diminution in value of investments is as under:

45.3 Market Risk

a) The Company's operations are mainly in India and therefore rupee denominated, except the following:

- Foreign currency denominated loans (Long term & Short term)

- Imports of some raw material, stores & spares and capital equipments

- Export of finished goods

The Company follows a policy of keeping these liabilities/assets fully hedged against foreign currencies. Regarding interest rate fluctuation, it follows a policy of partial hedge.

Some of the rupee liabilities have interest linked to the bank's MCLR or Financial market benchmark rates and are subject to variation in such rates.

b) Foreign Currency Risk

Foreign currency risk is the risk that the Fair Value or Future Cash Flows of an exposure will fluctuate because of changes in foreign currency rates.The Company's exposure to the risk of changes in foreign exchange rates relates to import and exports of materials and plant and equipment, foreign currency borrowings and net investment in foreign subsidiaries.The following table shows foreign currency exposures in USD and Euro on financial instruments at the end of the reporting period. The exposure to all other foreign currencies are not material.

50 Hon'ble High Court of Allahabad vide its order dated February 12, 2019 has set aside and quashed the notification withdrawing the Sugar Industrial Promotion Policy 2004 (Policy). The State Government has filed special leave petition (SLP) with Supreme Court against the above said order. The Company has not accrued the benefits consequent to the above said order due to uncertainties of the amount and the collection thereof.

51 The Board of Directors, in its meeting held on May 13, 2026, have recommended a final dividend of Rs. 4.00/- per equity share of Rs 2/- each aggregating to Rs. 62.38 crores for the financial year ended March 31, 2026. The recommendation is subject to the approval of shareholders at the forthcoming Annual General Meeting.

1. Net debt = Total borrowings (-) cash and cash equivalents (-) bank balances other than cash and cash equivalents (other than earmarked balances) (-) current investments in bonds

2. Earnings = Profit before tax ( ) Depreciation and amortisation ( ) Finance cost (-) interest and dividend income (-) net gain/(loss) on sale of current investments

3. Net finance charges = Finance cost (including interest capitalised on qualifying assets during construction period) (-) interest and dividend income (-) net gain/(loss) on sale of current investments

4. Average networth® = On year end closing basis

® Net worth = Equity share capital other equity (excluding share held by trust under ESPS and cash flow hedging reserve)

5. Average inventory = On quarter closing basis*

6. Average trade receivables = On quarter closing basis*

7. Total purchases = Cost of raw material consumed Consumption of stores and spares Purchases of stock-in-trade Change in inventories of raw material and stores & spares

8. Average trade payables = On quarter closing basis*

9. Average working capital® = On quarter closing basis*

‘"’Working capital = Current assets - Current liabilities

10. Average capital employed®’ = On quarter closing basis*

‘’Capital employed = Total assets [excluding Investments, Cash and cash equivalents, bank balances other than cash and cash equivalents (other than earmarked balances), Capital work in progress, Capital advances and Intangible assets under development] - Total liabilities [excluding total borrowings, Capital creditors and Deferred tax assets/(liabilities)(net)]

11. Profit before interest, depreciation and tax (EBIDTA) = Profit before tax ( ) Depreciation and amortisation ( ) Finance costs ( ) Exceptional item

* Opening and closing numbers are audited, while, quarter ended June, September, December numbers are based on unaudited books of accounts.

57 On November 21,2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the draft rules and FAQs issued by the ministry of labour and employment and best available information/interpretation, the Company estimated the financial implications thereof and made an additional provision of Rs 23.38 crores during the year ended March 31,2026. Considering the materiality, regulatory driven and non - recurring nature of the impact, the company has presented such incremental impact under "Exceptional item".

58. The Company along with its wholly owned subsidiary namely, Shriram Polytech Limited executed Joint Venture Agreement with Teknor Apex B.V. on April 16, 2026 and has sold its 50% equity stake in the Shriram Polytech Limited to Teknor Apex B.V.. Accordingly, Shriram Polytech Limited ceases to be subsidiary and have become a Joint Venture w.e.f. April 17, 2026.