Note 2. The Company had informed the stock exchanges that the Company has deposited ' 35 Crores with the Hon'ble Supreme Court of India on 26th May, 2023 and the appeal filed by the Company against the State of Gujarat, Collector of Electricity Duty, Chief Auditor, Industries Commission; has been admitted. During pervious periods, pending decision of the Hon'ble Supreme Court, the Company has made an aggregate provision in its books for the principal amount of ' 2,052.13 lakhs and disclosed contingent liability for interest, the amount of which is not ascertainable and is not acknowledged or accepted by the Company.
C Disclosure pursuant Leases:
As Lessee:
Short term Leases:
The Company has obtained premises for its business operations under operating lease or leave and license agreements. These are not non-cancellable and are renewable by mutual consent on mutually agreeable terms.
Lease payments are recognised in Statement of Profit and Loss under the head "Rent Expense" in note no 34.
M SEBI (Listing Obligation & Disclosure Requirements) Regulation 2015:
Disclosures are required under Regulation 34 (3) read with schedule V of the SEBI (Listing Obligation & Disclosure Requirements) Regulations 2015 have not been given as there are no such transactions with any such party.
N Disclosures pursuant to Ind AS 115 -Revenue from Contracts with Customers:
Disaggregation of revenue:
The management determines that the segment information reported under Note 36 (T) Segment reporting is sufficient to meet the disclosure objective with respect to disaggregation of revenue under Ind AS 115 Revenue from contract with Customers. Hence, no separate disclosures of disaggregated revenues are reported.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and mutual funds that have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using the closing NAV
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise 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. There are no transfers between levels 1 and 2 during the year.
The Company’s policy is to recognise transfers into and transfers out of fair value hierarchy levels at the end of the reporting period.
ii) Valuation technique used to determine fair value
Specific valuation techniques used to value financial instruments include:
- the use of quoted market prices or dealer quotes for similar instruments.
- the fair value of the remaining financial instruments is determined using discounted analysis.
iii) Valuation Processes
Valuation of unquoted equity shares is done by an external valuation agency.
The main level 3 inputs for unlisted equity securities used by the Company are derived and evaluated as follows:
Discount rates are determined using a capital asset pricing model to calculate a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the asset.
Earnings growth factor for unlisted equity securities are estimated based on market information for similar types of companies. Changes in level 2 and 3 fair values are analysed at the end of each reporting period.
R Financial Risk Management:
The Company has exposure to credit risk, liquidity risk and market risk arising from financial instruments.
The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks. Risk management policies and systems are reviewed periodically to reflect changes in market conditions and the Company’s activities.
The Company 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.
a. 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 from customers, loans and investments. Credit risk is managed through continuous monitoring of receivables and follow up for overdues.
Investments
The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counter parties, and does not have any significant concentration of exposures to specific industry sector or specific country risks.
Trade Receivables
The Company’s exposure to credit risk is influenced mainly by individual characteristics of each customer. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of the customer. Trade ,Other receivables and other financial assets, the company has no significant past due but not impaired.
b. Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company ensures that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions.
Maturities of Financial Liabilities
The table herewith analyse the Company's Financial Liabilities into relevant maturity groupings based on there contractual maturities for:
The amount disclosed in the table are the contractual undiscounted cash flows. Balance dues within the 12 months equal there carrying balances as the impact of discounting is not significant.
c. Market Risk
1. Price Risk
The Company is mainly exposed to the price risk due its investment in equity instruments and equity and debt mutual fund. The price risk arises due to uncertainty about the future market value of these investments.
Management Policy
The Company maintains its portfolio in accordance with framework set by risk management policies.
2. Currency Risk
The Company has no significant exposure to export revenue and import of raw material and property, plant and equipments so the Company is not subject to significant risk that changes in foreign currency value impact.
S Capital Management:
Risk management
For the purpose of Company's Capital Management, equity includes equity share capital and all other equity reserves attributable to the equity holders of the Company. The Company manages its capital to optimise returns to the share holders and make adjustments to it in light of changes in economic conditions or its business requirements. The Company's objective is to safe guard continuity, maintain a strong credit rating and healthy capital ratios in order to support its business and provide adequate return to share holders through continuing growth and maximise the share holders value. The Company funds its operations through internal accruals. The Management and Board of Directors monitor the return of capital as well as the level of dividend to share holders.
T Segment Reporting:
Primary Segment
The Company has identified "Active Pharmaceutical Ingredient (API)" and "Real Estate" as the primary reportable segment.
W Other statutory informations
1) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
2) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
3) The Company has not traded or invested in Crypto currency or Virtual Currency during the year.
4) (i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding 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 to or on behalf of the Ultimate Beneficiaries.
(ii) 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.
5) The Company does not have any such transaction which is not recorded in the books of accounts and 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)
6) The company holds all the title deeds of immovable property in its name.
7) There is no Scheme of Arrangement approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
8) The company is not declared as wilful defaulter by any bank or financial Institution or other lender.
X New Labour Code
On November 21,2025, the Government of India notified the four Labour Codes - 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 - consolidating 29 existing labour laws.
The Ministry of Labour & Employment published draft Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the impact of the changes, consistent with the Labour Codes, draft rules and FAQs
Considering the regulatory-driven nature of this impact, the Company has presented such incremental impact of '143.72 Lakhs in the Statement of profit and loss for the year ended on March 31,2026. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect as appropriate.
Y Information on Dividend for the year ended 31st March, 2026
Dividends proposed or declared after the balance sheet date but before the financial statements have been approved by the Board of Director for issue are not recognised as a liability at the balance sheet date.
The Board of Director recommended final dividend of ' 2.40 per equity share for the financial year ended on 31st March, 2026. The payment is subject to approval of share holder in ensuing Annual General Meeting of the Company. (Previous year ' 2.40 per equity share).
Z These Financial Statements were authorised for issue in accordance with the resolution of the Board of Directors in its meeting held on 19th May, 2026.
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