a) i) Premises in co-operative societies, on ownership basis of I 35.67 crore (March 31, 2025 - I 35.67 crore) and

I 6.85 crore (March 31,2025 - I 6.15 crore) being accumulated depreciation thereon.

ii) I 23.21 crore (March 31, 2025 - I 19.92 crore) being cost of roads (Enabling assets) constructed by the Company, the ownership of which vests with government-local authorities and I 18.17 crore (March 31, 2025 - I 17.94 crore) being accumulated depreciation thereon. The Company uses the road for its business purpose.

b) I 74.21 crore (March 31, 2025 - I 74.21 crore) being cost of power lines (Enabling assets) incurred by the Company, the ownership of which vests with state electricity boards and I 23.40 crore (March 31, 2025 - I 21.10 crore) being accumulated depreciation thereon. The Company avails the benefit due to installation of power lines upto factory premises.

c) Marine structures (Enabling assets) represent cost incurred by the Company for which ownership vests with respective State Maritime Boards ("Boards”) and being utilised by the Company as per agreements with respective Boards.

iv) The erstwhile Penna Cement Industries Limited (now amalgamated with the Company), has temporarily suspended / delayed than the scheduled, project of Pipe Conveyor works at Tandur amounting to 127.20 Crores. As at March 31, 2026 the Company has assesed that its value in use is higher than book value, hence no impairment needs to be provided.

h) Depreciation charge for the year includes 1 0.34 Crore (March 31, 2025 - 1 0.49 Crore) capitalised as a part of Capital work in progress. For details pertaining to capitlisation of expenditure (Refer Note - 8)

i) On transition to Ind AS in earlier year, the Company had elected to continue with the carrying value of all Property, plant and equipments measured as per the previous GAAP and use that carrying value as the deemed cost of Property, plant and equipments.

j) During the previous year ended March 31, 2025, the erstwhile Sanghi Industries Limited (now amalgamated with the Company) had re-evaluated the depreciation method, estimated useful life and the residual value of certain Property, plant and equipment including Power Plant (PPE) based on internal and external technical evaluation, Due to above mentioned re-evaluation in estimate of useful life / residual value and method of depreciation of certain PPE an additional depreciation expense was recognised for the previous year ended March 31, 2025 of 1 70.94 crore. The PPE for which useful life and method of depreciation has been reassessed will be depreciated as per revised useful life and the method in future period.

c) Terms of Optionally Convertible Debentures (OCDs) are as under:

The OCDs are optionally convertible into equity share capital at the discretion of issuer, the issuer has right to convert all or any of the OCDs into fixed number of equity shares at the price determined on the date of issue of OCDs based on valuation report for a period upto 10 years and the holder may after the expiry of 10 years from the date of first allotment of the OCDs ask for consideration and any unpaid coupon or convert all or any of the OCDs into fixed number of equity shares at the price determined on the date of the issue based on valuation report. The interest shall be accrued at the end of each financial year and payable at the discretion of the issuer.

d) Terms of Preference Shares are as under:

Redeemable within 7 to 12 years from the date of allotment or at any point of time earlier with the request from either party at its nominal value in full or in tranches without any pre-payment charges. The dividend is cumulative and payable along with principal.

e) Singha Cement Private Limited ('SCPL) (a wholly owned foreign subsidiary company) has accumulated losses and negative net worth as at March 31, 2026. The Management of the Company has prepared projected Financial Statements of SCPL and is expected that SCPL will recover the accumulated losses. Accordingly, no impairment allowance of investment in SCPL is provided.

e) The Company has subscribed 2,578,592 equity shares in Amplus Green Power Private Limited (AGPPL) representing 5.63% holding for a total consideration of I 4.50 crore. AGPPL has set up a solar power plant in the State of Uttar Pradesh of which the Company's Dadri plant is one of the consumer.

f) Investments at FVTOCI reflect investment in unquoted equity instruments. These equity shares are designated as FVTOCI as they are not held for trading purpose, thus disclosing their fair value change in profit and loss will not reflect the purpose of holding.

The erstwhile Penna Cement Industries Limited (now amalgamated with the Company) has subscribed 536,000 equity shares in Andhra Pradesh Gas Power Corporation Limited (APGPCL) representing 0.74% holding for a total consideration of I 8.05 crore. APGPCL has set up a solar power plant in the State of Andhra Pradesh of which the Company's various plants are one of the consumer. The fair value of this investment has been considered as Nil (March 31, 2025 - I 2.30 crore) in view of the losses incurred by APGPCL.

g) Refer note 56 (B) and (D) for disclosure of Fair Value through Profit and Loss Gain/Loss, Fair value hierarchy and Sensitivity Analysis.

a. No loans are due from directors or other officers of the Company, either severally or jointly with any other person. Further no loans are due from firms or private companies, respectively in which any director is a partner, a director or a member.

b. Refer Note 57 (B) for information about credit risk of other financials assets.

c. Loans to subsidiaries are given based on the agreed terms and amount are recoverable within period of two to seven years from the date of agreement and carry an interest rate of 8.00% p.a.

1 Margin money deposit includes bank deposits with lien in favour of National Company Law Appellate Tribunal (NCLAT) amounting to I 167.38 crore (March 31,2025 - I 157.71 crore) including accrued interest thereon (Refer Note - 50(b)(i)) and deposits amounting to I 200.50 crore (March 31,2025 I 1389.32 crore) given as security against bank guarantees and I 35.62 crore (March 31, 2025 I 36.70 crore) given as security to mining authorities and other regulatory authorities.

2 (a) It includes Goods and Services Tax refund recoverable amounting to I 274.50 crore (March 31, 2025 - I 274.50

crore) which are currently in appeal with government authorities in seven states although based on the legal opinion taken by the Management, the amounts are recoverable.

(b) In a matter of tariff dispute between the Company and Maharashtra State Electricity Distribution Company Limited (MSEDCL) regarding classification of Company's business activities conducted at Panvel plant, Maharashtra, between "Industrial” category and "Commercial” category for the purpose of electricity tarrif, the Hon'ble Bombay High Court in its order dated April 8, 2025 concluded that MSEDCL shall approach Maharashtra Electricity Regulatory Commission (MERC) with an application / petition to determine the classification of Company's business activity for determination of electricity billing tariff. Further, until MERC disposes off the applications / petitions of the MSEDCL, the Company shall continue to pay the electricity tariff in the 'Industrial' category.

Basis the Hon'ble Bombay High Court order, the Company is paying electricity charges under "Industrial” tariff rate whereas MSEDCL continues to raise invoices at "Commercial” tariff rate. Further, management basis internal assessment and opinion from independent legal counsel has concluded that the Company's activities fall under "Industrial” category and accordingly will be filing a refund application with MSEDCL for differential tariff credit earlier paid under "Commercial” category since 2016 amounting to I 16.27 crore plus interest thereon.

During the year ended March 31, 2026, MSEDCL approached MERC for categorising the activities being carried out at Company's plants under 'Commercial' instead of 'Industrial'. Final arguments in the matter have been heard on January 1, 2026 and March 5, 2026 and the matter is reserved for order. As on the date of these standalone financial statements, the order has not been pronounced.

Management based on above assessment concluded that it is reasonably certain to classify the Company's activities under "Industrial” category and the differential tariff will be refunded when order is issued. Accordingly, a receivable of I 16.27 crore is recognised as recoverable in the books with a corresponding credit to power and fuel expense for the year ended March 31, 2026.

(c) During the year ended March 31, 2026, Company has accrued credit of I 51.93 crore for various levies and duties charged by various state DISCOMs on captive sale of power to manufacturing units of Company's subsidiaries (including step down subsidiaries). As per the Management, such sale of power are not subject to levy of cross subsidy charges under the Electricity Rules, 2005 and procedure issued by the Central Electricity Authority (CEA) in February 2025. Management represents that given strong legal and regulatory developments and backed by the legal opinion, has recognised a receivable in the books. The Company has received refund of I 11 crore from Punjab State DISCOM. The Hon'ble High Court of Himachal Pradesh has also stayed the levy of CSS and AS by Himachal Pradesh State DISCOM. Further, the Ministry of Power (Government of India) vide notification dated March 13, 2026 has clarified that both the Holding and subsidiary companies are eligible for captive status.

(d) During the year ended March 31, 2026, the Company has reassessed its position in respect of recognition of its claim towards levy of Infrastructure Development Cess and Environment Cess in the state of Chhattisgarh which is presently disputed by the Company before the Hon'ble High Court of Chhattisgarh since March 2007. The reassessment follows a judgment by the Hon'ble High Court of Chhattisgarh in the similar matter, wherein the levy of these Cesses have been challenged, and court has vide its judgement in WPT 263/2023 dated October 8, 2025 has held that Cess cannot be levied or collected on mining leases as no land revenue is leviable on mining leases. As a result, the Management supported by legal opinion, has assessed that it is entitled to refund of all such Cess amounts paid of I 134.43 crore (including I 123.37 crore relating to earlier years) since inception of the levy w.e.f. May 27, 2005.

Limited. The said amounts will be reclassified to contract based intangible asset once requisite activities to perform the contract are concluded by the counter party. The Company has performed an internal assessment of the recoverability / value in use of the said amounts and believes that the amount is fully recoverable.

The Company follows consistent provisioning norms for writing down the value of inventories towards slow moving, non-moving and surplus inventory based on ageing of such inventories. During the year ended March 31, 2026, the Company has recognised an amount of 1(19.23) crore (March 31, 2025 - 146.36 crore) as (reversal) / charge for the provision related to slow moving Stores and spares inventory.

Provision for slow and non moving stores and spares as at March 31, 2026 is 1 156.78 crore (March 31, 2025 - 1 176.01 crore).

During the year ended March 31, 2023, the Company had made payments to Mundra Petrochem Limited (MPL) (a wholly owned subsidiary of Adani Enterprises Limited, a related party) for securing rights for raw material / fuel under a long-term supply arrangement, amounting to I 925.00 crore on an exclusive basis for its proposed cement manufacturing unit at Mundra, which was expected to commission within 30 months of proposal. However, as at the year ended March 31, 2026, the Company expects to commission the plant over next 2-3 years based on the progress of polyvinyl chloride unit being set up by MPL. MPL is in the process to set up integrated coal to polyvinyl chloride unit and currently expecting to commission its plant in phased manner by Mar'28 and commence supply of raw material / fuel starting Apr'28. The Company has right to obtain the refund of the amount for non-performance of the contract, backed by an undertaking from Adani Enterprises

There are no unbilled trade receivables, hence the same is not disclosed in the ageing schedules.

b) For terms and conditions with related parties, refer note 55.

c) The Company does not give significant credit period resulting in no significant financing component. The credit period on an average ranges from 30 days to 180 days (Refer Note 57)

d) No trade receivables are due from directors or other officers of the Company, either severally or jointly with any other person. Further no trade receivables are due from firms or private companies, respectively in which any director is a partner, a director or a member other than as disclosed in note 55.

e) Trade receivables include receivable from Singha Cement Private Limited, Sri Lanka (wholly owned subsidiary of the company) amounting to I 22.63 crore (March 31,2025 - I 22.63 crore ). The Company has approached RBI for extension of time considering the dificulties in repatriation of forex from Sri Lanka which is pending since 2022. The Company has been carrying provision for credit risk allowance for the aforesaid receivable of I 22.63 crore (March 31, 2025 - I 22.63 crore )

These balances includes unpaid dividend liabilities of the Company (including amount of I 5.59 crore (March 31, 2025 I 5.59 crore), pending transfer to Investor Education and Protection Fund (IEPF) due to dispute of 1,400,766 number of equity shares shareholding) and unclaimed sale proceeds amounting to I 2.49 crore (March 31, 2025 I 2.49 crore) of the odd lot shares belonging to the shareholders of erstwhile Ambuja Cements Rajasthan Limited (merged with the Company w.e.f. June 1, 2004) not available for use by the Company. (Refer Note 23(f)).

b) Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having a par value of 12 per share. Each shareholder is entitled to one vote per equity share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

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 the shareholder.

Note 24 - Capital Management

a) The Company's objectives when managing capital are to maximise shareholders value through an efficient allocation of capital towards expansion of business, optimisation of working capital requirements, expansion of manufacturing facilities (including through investments in / acquisition of subsidiaries) and deployment of balance surplus funds on the back of an effective portfolio management of funds within a well defined risk management framework.

b) The Management of the Company reviews the capital structure of the Company on regular basis to optimise cost of capital. As part of this review, the Board considers the cost of capital and the risks associated with the movement in the working capital.

c) During the financial year 2022-23, the Company issued warrants worth I 20,000.08 crore to Harmonia Trade and Investment Limited and received total equity funds of I 5,000.03 crore in financial year 2022-23, I 6,660.96 crore in financial year 2023-24 and I 8,339.09 crore in financial year 2024-25 as per the terms of issue.

d) The Company generally meets its capital requirement through internal accruals and issue of equity shares. The borrowings as appearing in the Notes 27 and 33 represents nominal interest free loan from state government considered as government grant. The Company is not subject to any externally imposed capital requirements.

Note 26 - Other equity

Nature and purpose of each reserve within equity:

a) Capital reserve

This reserve has been transferred to the Company in the course of amalgamations in current and earlier years. Futher it is not a free reserve and can not be utilised for distribution of dividend. It includes amount of 11,294.31 crore created due to acquisition of non-controling interest of Sanghi Industries Limited on account of amalgamation with the Company w.e.f. March 12, 2026 (Appointed date - April 1, 2024) vide order of the National Company Law Tribunal (NCLT) dated February 9, 2026 (Refer Note 68)

b) Securities premium

This reserve represents the premium on issue of shares and can be utilised in accordance with the provisions of the Companies Act, 2013.

c) General reserve

General Reserve is used to transfer profits from retained earnings for appropriation purposes. The amount is to be utilised in accordance with the provision of the Companies Act, 2013.

d) Capital redemption reserve

Capital redemption reserve was created by transferring from retained earnings. The balance will be utilised in accordance with the provisions of the Companies Act, 2013.

e) Capital Subsidies

These are capital subsidies received from the government and various authorities in the earlier years.

f) Capital contribution from erstwhile parent

Capital contribution from erstwhile parent represents the fair value of the employee performance share plan. These shares are granted by the erstwhile parent company "Holcim Limited, Switzerland” to the employees of the Group in earlier years.

g) Retained earnings

Retained earnings are the profits that Company has earned till date less transfers to general reserve dividends or other distributions paid to shareholders. Retained earnings includes re-measurement loss / (gain) on defined benefit plans (net of taxes) that will not be reclassified to the Statement of Profit and Loss.

h) Equity instrument through other comprehensive income

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated in a separate reserved titled as Equity instruments through other Comprehensive Income within equity.

i) Share pending issuance (Refer Note 68)

Share pending issuance represents shares to be issued pursuant to amalgamation.

i) The rate used for the calculation of Deferred tax is 25.17% for the year ended March 31,2026 and March 31, 2025.

ii) During the year ended March 31,2026, the Company has re-assessed its tax positions in respect of certain matters based on favourable High Court decisions in the similar matters and for such matters the liabilities / provisions were carried in the Company's books from the earlier years. Management assessed that in view of such favourable orders of Hon'ble High Court in similar matters, during the year ended March 31, 2026, certain tax provisions are no longer required / to be carried in the books and accordingly, has reversed an amount of 11,179.71 crore in the books (net of deferred tax charge) and disclosed the amount under (write back) / tax adjustment relating to earlier periods (net) in the standalone statement of profit and loss. Further, a credit of 171.05 crore was recognised as adjustment on account of revision of tax provision for the year ended March 31, 2025 (including deferred tax adjustment). For the previous year ended March 31, 2025, based on the favourable assessment orders from tax authorities in certain tax matters including proceedings before the Board for Advance Ruling (BAR) and consequent receipt of refunds post appellate orders, the Management decided to reverse an amount of tax provision of 1782.15 crore which was recognised in the books and disclosed in the statement for profit and loss for the year ended March 31,2025 in the tax (write back) / adjustment relating to earlier periods (net).

iii) In erstwhile Sanghi Industries Limited (now amalgamated with the Company) ("Sanghi") for the A.Y. 2017-18, there is ongoing litigation related to Specified Domestic Transaction related to adjustment on transfer of power from eligible unit to non-eligible unit under Section 80IC of the Income Tax Act amounting to 1 155.81 crore. Currently the Income Tax Appellate Tribunal (ITAT) has adjudicated the matter in favour of revenue department vide order dated January 23, 2025. Management aggrieved by the order passed by ITAT, filed Miscellaneous Application before ITAT to rectify the impugned order passed by it. The said application was rejected vide order dated January 21, 2026. Now, Management is in the process of filing appeal before High Court, Telengana to contest the matter and as per the management's risk assessment based on the merits of the case, it is assessed as "remote" risk category.

The contract liability in the nature of advance from customers outstanding at the beginning of the respective year has been recognised as revenue during the year ended March 31, 2026 and March 31, 2025.

c) Performance obligation:

All sales are made at a point in time and revenue recognised upon satisfaction of the performance obligations which is typically upon dispatch/ delivery. The Company does not have any remaining performance obligation for sale of goods or rendering of services which remains unsatisfied as at March 31,2026 or March 31, 2025.

d) Disaggregation of revenue:

The management determines that the segment information reported in single financial report in consolidated financial statements is sufficient to meet the disclosure objective with respect to disaggregation of revenue under Ind AS 115 - Revenue from contracts with customers.

(ii) During the year ended March 31, 2026, the Company became aware of the enactment of the "Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025” w.e.f. April 2, 2025 (hereinafter referred to as the "Revocation Act”) issued by the Government of West Bengal to rescind, revoke and discontinue all West Bengal Incentive Schemes granted by the Government of West Bengal/its authorised agents, to the industrial units setup in the State. Pursuant to the above, the Company had filed a writ petition in respect of its incentive claim of ' 119 crore recognised in the books in the earlier years relating to Farakka unit before Hon'ble Supreme Court under Article 32 of the Constitution, challenging the validity of the Revocation Act on retrospective basis denying benefits of past incentive schemes, overriding any judgement, order, decree of any court, or direction of any authority, etc. Subsequently, the Company withdrew the above writ petition from Hon'ble Supreme Court on August 25, 2025 with liberty to file the writ before the High Court and filed writ petition before Hon'ble Kolkata High Court for its incentive claims of Farakka and Sankrail units, which, by its order dated September 9, 2025, has stayed any coercive action for the amount of incentives already disbursed. The matters were listed for hearing on April 30, 2026 however adjourned to July 8, 2026. Further, the Company has also obtained an Independent legal opinion on the validity of the aforesaid Revocation Act, validity of its claims and possible outcome of the aforesaid writ petitions filed by the Company in this regard.

Based on the Management assessment, initially the Company concluded that its incentive claims of ' 257 crore (Gross value) relating to Farakka and Sankrail industrial units, already recognised in the books (Incentive claim relating to Sankrail unit amounting to ' 138 crore was recognised in the books by the Company during the year ended March 31, 2025) are good of recovery. The Company also re-assessed the fair value of the aforesaid incentives on account of change in the estimated recovery timelines of the aforesaid incentive amount and had recorded an adjustment ((income)/expense) of ' 18.27 crore in this regard. However, subsequently considering principles of prudence, the Company fully provided for such Government Grant of net ' 222.80 crore (at Fair value) which was accrued and recognised as receivable in the books. The same has been disclosed as "Exceptional Item” in these standalone statement of profit and loss..

(i) Previous year amount includes income in respect of a matter relating to Company's eligibilities for incentive in the form of exemption of Excise duty on captive consumption of clinker at Darlaghat unit during the period from February 2005 to February 2013 as per notification no. 67/95-CE dated March 16, 1995. Earlier, the excise authorities, Shimla had denied the above exemption to the Company's unit at Darlaghat and accordingly the Company paid the aforesaid duty and expensed the duty amount in the respective earlier financial years. The Company had received an order from the Office of The Assistant Commissioner - Central Goods and Service Tax, Shimla Division dated November 27, 2024 allowing refund of amount paid against exemption of excise duty on captive consumption of clinker by the Company pertaining to Darlaghat unit amounting to ' 189.52 crore and the same was recognised as government grant income. This refund order was allowed pursuant to the order of the Regional bench of Hon'ble Customs, Excise and Service Tax Appellate Tribunal, Chandigarh ("CESTAT”) on July 1, 2024 after the Hon'ble Supreme Court vide it's judgement dated March 3, 2016 had allowed the appeal in Company's favour which was subsequently denied by the department on different grounds.

a) Corporate Social Responsibility Expenditure:

i) The Company is required to spend I 60.98 crore (March 31, 2025 I 55.15 crore) towards Corporate Social Responsibility i.e. 2% of the average profits for the last three financial years, calculated as per Section 198 of the Companies Act, 2013. As approved by the Board of Directors, the Company has spent/contributed I 54.93 crore (March 31, 2025 I 50.27 crore). I 62.02 crore (considering utilisation of prepaid of I 7.09 crore from previous year) (March 31, 2025 - I 55.15 crore) is included under head Corporate Social Responsibility in Other Expenses, and I Nil (March 31,2025 I 7.09 crore) is included under prepaid expenses.

ii) No amount has been spent on construction / acquisition of an asset of the Company and the entire amount has been spent in cash.

iii) Details of amount spent under Section 135 (5) of the Companies Act, 2013:

a) In respect of above matters, future cash outflows are determinable only on receipt of judgements / decisions pending at various forums / authorities.

b) Demand from Competition Commission of India

i. In 2012, the Competition Commission of India ('CCI') issued an Order imposing penalty on certain cement manufacturers, including the Company, concerning alleged contravention of the provisions of the Competition Act, 2002 and imposed a penalty of ' 1,163.91 crore on the Company. On Company's appeal, Competition Appellate Tribunal ('COMPAT') (who initially stayed the penalty), by its final order dated December 11, 2015, set aside the order of the CCI and remanded the matter back to the CCI for fresh adjudication and for passing a fresh order.

After hearing the matter, the CCI, by its order dated August 31, 2016, held that the cement companies and the Cement Manufacturers Association are guilty and in violation of the Section 3(1) read with section 3(3)(a) and Sec 3(3)(b) of the Competition Act and imposed a penalty of ' 1,163.91 crore on the Company.

The Company had appealed against the penalty to the COMPAT which granted a stay on November 21, 2016 with a condition to provide a deposit of 10% of the penalty amount, through lien on bank deposit of such amount which was deposited by the Company and also decided to levy interest of 12% p.a. in case the appeal is decided against the appellant (the "Interim order”). Interest amount on penalty as on March 31,2026 works out to ' 1,274.88 crore (Previous Year - ' 1140.04 crore) in case the appeal is decided against the Company. Meanwhile, pursuant to the notification issued by Central Government on May 26, 2017, any appeal, application or proceeding before COMPAT is transferred to National Company Law Appellate Tribunal (NCLAT).

NCLAT vide its order dated July 25, 2018, dismissed the Company's appeal and upheld the CCI's order. Against the above order of NCLAT, the Company appealed before the Hon'ble Supreme Court on September 12, 2018, which by its order dated October 5, 2018 had admitted the appeal and directed to continue the Interim order passed by the NCLAT dated November 21, 2016. The matter was listed on April 15, 2026 for final hearing however adjourned to May 6, 2026.

Based on the advice of external legal counsel, the Company believes it has a strong case on merits for successful appeal in this matter. Accordingly, the Company is of the view that no provision is necessary in the standalone financial statements.

ii. In a separate matter, the Director, Supplies and Disposal, Haryana filed information that seven cement companies including the Company had allegedly engaged in collusive bidding in contravention of the Competition Act, 2002. The CCI by its order dated January 19, 2017, imposed a penalty of 129.84 crore on the Company.

The Company has filed an appeal against the order of the CCI before the COMPAT which had stayed the order of the CCI. The matter was listed before the NCLAT on February 23, 2026, however adjourned to May 12, 2026 for hearing.

Based on the advice of external legal counsel, the Company believes it has a strong case on merits for successful appeal in this matter. Accordingly, the Company is of the view that no provision (including interest) is necessary in the standalone financial statements.

c) Sales tax incentive relating to:

In a matter relating to eligibility of exemption limit under Sales Tax New Incentive Scheme for Industries, 1989 for the period from 2002 to 2008 in respect of Company's unit in Rajasthan, the Company's appeal before Hon'ble Supreme Court since 2014 was concluded by Hon'ble Supreme Court. On November 6, 2025, it partially allowed the Company's appeal by setting aside the interest demand of 1134.45 crore but upheld the authorities demand of principal amount of 1113.52 crore on the ground that Board for Industrial and Financial Reconstruction (BIFR) did not have the power to grant the sales tax exemption, beyond policy of government without consent of the State Government. At the same time, the Hon'ble Supreme Court has categorically held that there was no default on part of the Company in the matter as it has relied on the order of the BIFR to claim exemption and therefore, no liability towards interest can be attributable to the Company. The state of Rajasthan has filed a miscellaneous application before the Hon'ble Supreme Court challenging the relief of non-levy of interest on the Company, which was dismissed by the Hon'ble Supreme Court vide its order dated February 13, 2026.

Accordingly, an amount of 1113.52 crore earlier accounted as recoverable in the books, has been expensed off as an exceptional item in the Standalone Statement of Profit and Loss for the year ended March 31, 2026, representing full and final settlement of the principal liability under dispute. An amount of 130 crore deposited against partial interest since 2015 is now considered recoverable from the State of Rajasthan, as any claim for interest by the State has been set aside by the Hon'ble Supreme Court. The Company has filed its refund claim of 130 crore towards interest deposited which has been disclosed as security deposit (other non-current financial assets) (Refer Note 12).

d) Demand for Stamp duty includes:

i. A matter wherein the Collector of Stamps, Delhi vide its order dated August 7, 2014, directed erstwhile Holcim (India) Private Limited (HIPL) (merged with the Company) to pay stamp duty (including penalty) of ' 287.88 crore (March 31,2025 - ' 287.88 crore) on the merger order passed by Hon'ble High Court of Delhi. HIPL (now Ambuja Cements Limited) filed writ petition before Hon'ble Delhi High Court for setting aside/ quashing of the order dated August 7, 2014 and the Hon'ble High Court of Delhi granted an interim stay. During the year ended, March 31,2025 the Hon'ble Delhi High Court vide its judgement dated November 6, 2024 allowed the writ petition of Ambuja and set aside the impugned order.

Further, during the previous year the Collector of Stamps has filed Letter Patent Appeal in Delhi High Court against the dismissal of writ petition and notice has been issued to Ambuja on April 2, 2025 for hearing on July 17, 2025 with respect to condonation of delay application, interim stay application and appeal filed by the department. The next date of hearing is July 24, 2026.

During the previous year ended March 31, 2025, considering the favourable order from Delhi High Court, Company had re-assessed it's position and determined that it had "remote" exposure with respect to the case. Accordingly, the case was classified from contingent liability to remote.

ii The High Court of Gujarat on March 18, 2014 sanctioned the scheme of amalgamation of Holcim India with Ambuja Cement Limited (ACL) with an appointed date of April 01, 2013. ACL paid ' 10.00 crore as stamp duty based on the rate applicable on the appointed date. However, the maximum stamp duty was increased to ' 25.00 crore in place of ' 10.00 crore through an amendment dated May 15, 2013. The Collector of Stamp issued a show cause notice to ACL for not paying the deficit stamp amounting to ' 15.00 crore within the stipulated time.

ACL filed a Stamp Reference before the Gujarat High Court which vide its order dated February 10, 2023, stating that the levy of stamp duty should be based on the appointed date and not the date of the High Court's sanction. The Collector had no authority to impound the instrument or levy a penalty. Aggrieved by the judgement of the High Court, Chief Controlling Revenue Authority has preferred an Special Leave Petition (SLP) on August 26, 2023 before Hon'ble Supreme Court and the same is pending for adjudication.

e) Income tax

In respect of tax matter relating to the Company, pending final closure of various matters in respect of earlier assessment years, has disclosed income tax demand amount of 1 39.99 crore (March 31, 2025 - 1 63.12 crore) under contingent liabilities, considering the matters as "possible" in nature. During the current year, the Company has received favourable orders from ITAT for matters relating to AY 2017-18 & AY 2018-19 amounting to 1 23.13 crore.

f) Provident fund disputes

i. Regional Provident Fund Commissioner (RPFC) Punjab initiated enquiry during the year 2011 (vide notice dated January 25, 2011), under Section 7A of EPFO Act, 1952 for the period December 2003 to December 2010. During the enquiry proceedings the enforcement officer (EO) filed a preliminary report dated September 5, 2018 wherein EO recommended to pass an order for deposit of 125.42 crore on account of PF contribution towards the transport workers engaged in the transportation activities of the company at the Ropar plant. RPFC held that Company being the principal employer for transporter engaged as contract workmen with the Company and directed the EO to conduct further enquiry and submit final report. Aggrieved by the RPFC's order, ACL filed a Writ Petition on February 10, 2025 before the Punjab and Haryana High Court for setting aside the said order. The writ petition is pending before the Hon'ble High Court and fixed for hearing on September 30, 2026.

In separate proceedings for the period October 1995 to February 2007, RPFC Chandigarh vide its order dated July 30, 2022 assessed PF contribution of 128.63 crore in respect of Transport Worker at Darlaghat plant payable by the Company. Appeal have been filed before Central Government Industrial Tribunal (CGIT) Chandigarh as the transport workers does not fall under the category of contract workers, therefore not entitled to PF benifits. The appeal is pending for final adjudication since May, 2024 and will list in due course for hearing.

ii. Regional Provident Fund Commissioner (RPFC) Jodhpur, passed an order on March 22, 2022 directing the Company to pay 125.01 crore towards dues with respect to provident fund contributions in respect of its Rabariyawas plant/unit under the Employees Provident Fund and Miscellaneous Provision Act, 1952. An inspection report was submitted by Area Enforcement Officer to RPFC, Jodhpur, requesting an order to raise a demand for non-payment/underpayment of PF contributions for the mentioned heads, including transport workers at Rabriyawas plant. The main finding pointed to discrepancies in the statement of accounts maintained by Ambuja Cements Ltd and the corresponding PF contributions for the period from November 2013 to August 2015. The inspectors viewed transport workers as contract workers. Based on the inspection report, RPFC, Jodhpur initiated proceedings for determination of PF dues under section 7A of Employee's Provident fund Act, 1952 against the Company and passed an order dated March 22, 2022. The Company has filed a writ petition challenging the final order before the Rajasthan High Court at Jodhpur. The Hon'ble Rajasthan High Court has granted a stay on the proceedings vide order dated April 27, 2022. The matter is posted for hearing on September 10, 2026.

g) Claim for electricity duty on account of dispute with regard to exemption period

Erstwhile Sanghi Industries Limited ("Sanghi") (now amalgamated with the Company) has ongoing litigation with Chief Commissioner of State Tax, Government of Gujarat under Electricity Duty Act regarding the exemption period from payment of electricity duty before the Hon'ble Gujarat High Court. Sanghi had started generating electricity in November 1995 using DG Sets for the purpose of construction of cement plant in November 1995 basis which an application was filed with Electricity Department seeking an exemption for payment of electricity duty for a period of 10 years as per then prevailing provisions of the Gujarat Electricity Duty Act, 1958. In August 1997, Sanghi's application for exemption for payment of Electricity Duty was rejected by Electricity Department on the grounds that Sanghi had not commenced cement manufacturing activities

Sanghi commenced cement manufacturing in April 2002 and reapplied for the exemption of electricity duty for the period starting April 2002 to March 2012. Against Sanghi's application, the electricity department issued exemption certificate for the period of April 2002 to November 2005, interpreting that exemption would be applicable from the date commissioning of DG sets i.e. from November 1995 and not manufacturing date and also in view of the same the authority issued demand of 13.30 crore vide orders dated March 2, 2006 and April 1,2006, for the period of November 18, 2005, to February 2006.

Sanghi filed writ petition with Hon'ble Gujarat High Court in year 2006 challenging department's demand orders claiming that Sanghi is entitled to exemption from the payment of electricity duty for a period of 10 years from March 2002 on the basis of Section 3(2)(vii) of the The Electricity Act, 2003. The Hon'ble High Court of Gujarat, in their interim order dated May 5, 2006, granted ad-interim relief in the matter.

Since the matter is sub-judice, there is no open demand from the electricity department for the period upto March 2012. Based on management assessment and the advice of external legal counsel, Sanghi believes it has a strong case on merits for successful appeal in this matter. Sanghi has recognised a provision of 1 43.90 crore (related to principal portion of duty for the period 2007 to 2012) and an amount of 1 184.10 crore (March 31, 2025 - 1 174.15 crore) is assessed as contingent liability towards interest for the dispute period for the year ended March 31, 2026.

For the period post April 2012, a demand of 1 161.95 crore (including interest) was raised by Chief Commissioner of State Tax, Gujarat vide their letter dated July 16, 2024. Sanghi had recognised additional provision of 1 121.20 crore (including interest) in the books against the demand disclosed as exceptional item for the year ended March 31,2025. The amount was deposited by Sanghi on April 30, 2025, pending settlement of the matter. During the year ended March 31, 2026, Sanghi has received letter acknowledging receipt of the payment of electricity duty of 1 161.95 crores and received demand of additional interest for the period August 2024 till the date of payment of 1 10.95 crore. Sanghi has made adequate provision in the books for the same, pending settlement.

Further, Share Purchase Agreement (SPA) dated August 3, 2023, entered between the Promoters of Sanghi and the Company for the acquisition of Sanghi, Sanghi / Company has raised indemnity claims amounting to 1 84.31 crore against the electricity duty demand raised by authorities for the period post April 2012. During the year ended

March 31,2026 the Company has received 1 40 crore towards the indemnification claim as per the share purchase agreement and amount realised is disclosed as exceptional item.

The Company has raised an additional indemnity claim as per the terms of SPA with Promoters of Sanghi for the interest demand of 1 10.95 crore as raised by Chief Commissioner of State Tax, Gujarat. Company's management, as per the terms of SPA, also has rights to raise further claims for the period pre-2012, in case the matter is ruled against Sanghi and demand is raised by the authorities.

h) Demand of differential customs duty on imported coal

The Company has received various demand notices for differential custom duty along with interest and penalty thereof amounting to ' 79.26 crore (March 31, 2025 - ' 79.62 crore) on account of dispute relating to classification of imported steam coal as bituminous coal based on the calorific value criteria. The Company has disputed the same (relying on trade parlance/end-use for steam coal) and has filed various appeals in the matters with Customs, Excise and Service Tax Appellate Tribunal (CESTAT). Based on management assessment no provision is necessary on this matter as the matter is possible in nature.

i) Goods and Services Tax matters

The Company is subject to various proceedings under the Goods and Services Tax laws across multiple states on account of Input Tax Credit (ITC) Mismatch, Post Supply Discounts, ITC on Blocked Credits (Section 17(5)) etc. Based on evaluations the Company believes that it has a strong case on merits in respect of the above matters and accordingly, the amounts involved have been disclosed under contingent liabilities.

For commitment related to acquisition of erstwhile Penna Cement Industries Limited (now amalgamated with the Company) (Refer Note 66)

Other commitments:

The Company has secured the Fly Ash Utilisation and related compliance contract for a minimum 19.26 MTPA (March 31, 2025 - 5 MTPA) Fly Ash with Adani Power Limited (a related party) and its subsidiaries for a period of 3 years.

Note 52 - Employee benefits

a) Defined contribution plans

Amount recognised and included in Note 44 "Contribution to Provident and Other Funds” of the Statement of Standalone Profit and Loss 1 42.89 crore (March 31,2025 - 139.18 crore).

b) Defined benefit plans

The Company has defined benefit gratuity plan for employees which is funded (except for Dirk and Sanghi unit which is unfunded). The Company also had trust managed provident fund plan for employees which was operative till December 31, 2024 and thereafter the balance was transferred to the account of the Central board of trustees, Employees Provident Fund. (Refer note (f) below)

The gratuity plan is in the form of a trust and it is governed by the Board of Trustees appointed by the Company. The Board of Trustees is responsible for the administration of the plan assets including investment of the funds. The trust has developed policy guidelines for the allocation of assets to different classes with the objective of controlling risk and maintaining the right balance between risk and long-term returns in order to limit the cost to the Company of the benefits provided.

Each year, the Board of Trustees and the Company review the level of funding. Such a review includes the asset-liability matching strategy and assessment of the investment risk. The Company decides its contribution based on the results of this annual review. Currently, all funds have been invested in insurance policies of Life Insurance Corporation of India.

The plans typically expose the Company to actuarial risks such as: Interest rate risk, longevity risk and salary risk.

i. Investment risk: As the plan assets include significant investments in insurer managed funds, the Company is exposed to the risk of impacts arising from fluctuation in interest rates and risks associated with equity and debt market and related impairment.

ii. Interest risk: A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan's investments.

iii. Salary risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan's liability.

iv. Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.

The Company operates a Gratuity Plan through a trust for all its employees. Employee who has completed minimum five years of service or fixed term employee who has completed one year of service is entitled to gratuity at 15 days salary for each completed year of service in accordance with Payment of Gratuity Act, 1972 read with the Code on Social Security, 2020. The scheme is funded with insurance companies in the form of qualifying insurance policies managed by the trust.

c) Summary of the components of net benefit / expense recognised in the Standalone Statement of Profit and Loss, the funded status and amounts recognised in the Balance Sheet for the respective gratuity plans is as under :

i) Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase, attrition rate and mortality. These sensitivities have been calculated to show the movement in defined benefit obligation in isolation and assuming there are no changes in market conditions at the reporting date. There have been no changes from the previous periods in the methods and assumptions used in preparing the sensitivity analysis.

ii. The discount rate is based on the prevailing market yields of Government of India securities as at the Balance Sheet date for the estimated term of the obligations.

iii. The estimates of future salary increases considered in actuarial valuation take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

iv. Basis used to determine expected rate of return on assets

The Company has considered the current level of returns on policies declared by Life Insurance Corporation of India (LIC), to develop the expected long-term return on assets for funded plan of gratuity.

v. In the absence of detailed information regarding plan assets which is funded with Life Insurance Corporation of India (LIC), the composition of each major category of plan assets, the percentage or amount for each category to the fair value of plan assets has not been accordingly disclosed.

e) Provident Fund managed by a trust set up by the Company

Provident Fund for certain eligible employees was managed by the Company through a trust till December 31, 2024, "Ambuja Cements Staff Provident Fund Trust”, in line with the Provident Fund and Miscellaneous Provisions Act, 1952. During the previous year the Company had submitted the application to surrender the provident fund exemption under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 on its own volition with effect from January 01, 2025, with the relevant authorities. The same was approved by the Employees Provident Fund Organisation on provisional basis vide its letter dated January 27, 2025.

In this regard, Company had provisionally determined the obligation as at December 31, 2024 amounting to ?110.78 crore. Accordingly an amount of ?110.78 crore lying in the different classes of plan assets in the account of Ambuja Cement Limited Staff Provident Fund Trust was transferred to the account of the Central board of trustees, Employees Provident Fund on provisional basis. The Company do not expect any additional liabilities payable to Employees' Provident Fund Organisation (EPFO).

Subsequent to such transfer, w.e.f. January 1, 2025 the Company have started contributing its provident fund obligation of the employer as well as of the employee on a monthly basis to Employees' Provident Fund Organisation (EPFO). Refer Note 52(a) above.

i) The Company had invested funds of 19.05 crore through a trust "Ambuja Cements Staff Provident Fund Trust” in bonds of IL&FS Financial Services Limited and Diwan Housing Finance Limited. In view of uncertainties regarding recoverability of this investments, during the year ended December 31, 2019 the Company had provided 19.05 crore being the change in re-measurement of the defined benefit plans, in Other Comprehensive Income towards probable incremental employee benefit liability that may arise on the Group on account of any likely shortfall of the Trust in meeting its obligations. Subsequent to the provisional surrender of provident fund exemption, the Company has transferred all the assets and liabilities except for the above securities which are carried at Nil fair value since earlier years.

Disclosure as per Ind AS 116: a) Company as lessee

The Company has elected exemption available under Ind AS 116 for short term leases and leases of low value. The lease payments associated are recognised as expense on a straight line basis over the lease term.

The Company's lease asset classes primarily consist of leases for godowns, flats, land and building, mining lands, office premises, vehicles, ships and other premises. Leases of these items have lease terms between 2-99 years. There are no sub-lease restrictions imposed by the lease arrangements. The incremental borrowing rate for lease liabilities are between 8.00% to 9.50% (Previous year 8.00% to 9.50%).

During the year, the variable lease portion represents lease payments over and above the fixed lease commitments on usage of the underlying assets. Variable payment of leases is impracticable to separate considering nature of contracts / transactions and hence information thereof is not disclosed separately. Management has assessed that such amount is not expected to be material.

d) The maturity analysis of lease liabilities are disclosed in Note 57 (C) - Liquidity risk

a) Amount of I 0.00 denotes amount less than I 50,000

b) Does not include provision towards gratuity and leave encashment which is provided based on actuarial valuation on an overall Company basis.

c) During the year ended March 31, 2026, the Company has contributed Nil (for the year ended March 31, 2025 - I 0.81 crore) to Ambuja Vidya Niketan Trust, I 1.93 crore (for the year ended March 31, 2025 - I 2.66 crore) to Ambuja Hospital Trust, I 11.04 crore (for the year ended March 31,2025 - Nil) to Adani Foundation and I 41 crore (for the year ended March 31, 2025 - I 46.80 crore) to Ambuja Cement Foundation towards Corporate social responsibility obligations.

d) Contribution to Ambuja Cements Limited Staff Provident Fund Trust :

The Company is required to contribute a specified percentage of the employee compensation for eligible employees towards provident fund. The Company made monthly contribution to a trust specified for this purpose till December 31, 2024. For the year ended 31 March 2025, the Company has contributed I 3.19 crore to Ambuja Cements Limited Staff Provident Fund Trust. From January 1, 2025, provident fund benefit was made defined contribution plan instead of defined benefit plan. (Refer Note 52)

e) Transaction entered into with related party are made on terms equivalent to those that prevail in arm's length transactions and normal credit terms except where contractually agreed. The Company has not recorded any loss allowances for trade and other receivables from related parties other than Singha Cement Private Limited. (Outstanding balances at the end of the year are unsecured and interest bearing and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. The transactions relating to purchase/sale of cement, clinker and raw materials and services such as business support / corporate cost allocation, human resource management, information technology, etc. in the normal course of business with subsidiary and step down subsidiary companies are as per Master Supply Agreement and Master Supply Service Agreement.)

f) Transaction with related parties disclosed are exclusive of applicable taxes.

g) For undertaking given by Adani Enterprises Limited Refer Note 13

h) Refer Note - 9 for detail of investments in subsidiaries, associates and joint ventures.

i) During the previous year, the Company invested I 3,370 crore and I 540 crore by subscribing 0.01 % Optionally Convertible Debentures (OCDs) of I 10 each of Penna Cement Industries Limited (PCIL) (now amalgamated with the Company) and Marwar Cement Limited (wholly owned step-down subsidiary of PCIL) respectively, disbursed in multiple tranches, including a tranche of investment made and paid before August 15, 2024, before entering into Share Purchase Agreement (SPA) to acquire PCIL. As a result, the aforementioned transactions are not disclosed.

Note 56 - Financial instruments

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

Note 57 - Financial risk management objectives and policies

The Company has a system-based approach to risk management, established policies and procedures and internal financial controls aimed at ensuring early identification, evaluation and management of key financial risks such as market risk, credit risk and liquidity risk that may arise as a consequence of its business operations as well as its investing and financing activities. Accordingly, the Company's risk management framework has the objective of ensuring that such risks are managed within acceptable and approved risk parameters in a disciplined and consistent manner and in compliance with applicable regulations.

All derivative activities for risk management purposes are carried out by specialist teams that have the appropriate skills, experience and supervision. It is the Company's policy that no trading in derivatives for speculative purposes shall be undertaken.

The Company's management is supported by a risk management committee that advises on financial risks and the appropriate financial risk governance framework for the Company. The risk management committee provides assurance to the Company's management that the Company's financial risk activities are governed by appropriate policies and procedures and that financial risks are identified measured and managed in accordance with the Company's policies and risk objectives. The Board of Directors reviews policies for managing each of these risks.

A) 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 a) commodity price risk b) currency risk and c) interest rate risk. Financial instruments affected by market risk comprise deposits, investments, derivative instruments and trade payables.

The Company's investments are predominantly held in fixed deposits and liquid mutual funds. Mark to market movements in respect of the Company's investment are valued through the Standalone Statement of Profit and Loss. Fixed deposits are held with highly rated banks and are not subject to interest rate volatility.

Assumption made in calculating the sensitivity analysis

The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. The analysis excludes the impact of movements in market variables on the carrying values of gratuity and other post - retirement obligations and provisions.

a) Commodity Price risk

Commodity price risk for the Company is mainly related to fluctuations in coal and pet coke prices linked to various external factors, which can affect the production cost of the Company. Since the energy costs is one of the primary costs drivers, any fluctuation in fuel prices can lead to a drop in operating margin. To manage this risk, the Company take following steps:

i) Optimising the fuel mix, pursue longer term and fixed contracts where considered necessary.

ii) Consistent efforts to reduce the cost of power and fuel by using both domestic and international coal and petcoke.

iii) Use of alternative Fuel and Raw Materials (AFR) and enhancing the utilisation of renewable power including its onsite and offsite solar, wind, hydro power and Waste Heat Recovery System (WHRS).

iv) Long term supply agreements with vendors with only option to purchase the goods at pre-determined prices.

Additionally, processes and policies related to such risks are reviewed and controlled by senior management and fuel requirements are monitored by the central procurement team.

b) Foreign currency risk

Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency, which fluctuate due to change in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates primarily relate to import of raw materials, fuels and capital items. Based on sensitivity analysis, the Company has well defined forex exposure threshold limit approved by Board of Directors, beyond which all forex exposure are fully hedged.

B) Credit risk

Credit risk is the risk that the counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its investing activities, including deposits placed with banks and financial institutions and other financial instruments.

Trade receivables

Customer credit risk is managed as per the Company's established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored. The requirement for impairment is analysed at each reporting date on an individual basis for major customers. The management is also monitoring the receivables levels by having frequent interactions with responsible persons for highlighting potential instances where receivables might become overdue. The overdue receivable is subject to interest as per Company's policy and terms with customers.

Trade receivables consist of a large number of customers. The Company has credit evaluation policy for each customer and based on the evaluation credit limit of each customer is defined. The exposure in credit risk arising out of major customers is generally backed either by bank guarantee, letter of credit or security deposits. Obtaining security deposit is not applicable to non-trade customers.

The Company's exposure and wherever appropriate the credit ratings of its counterparties are continuously monitored and spread amongst various counterparties. Credit exposure is controlled by counterparty limits that are reviewed and approved by the management of the Company.

The Company does not have higher concentration of credit risks since no single customer accounted for 10% or more of the Company's net sales, except ACC Limited (a subsidairy company). The outstanding aggregate receivables from ACC Limited is Nil (March 31, 2025'184.25 crore)

Total trade receivable as on March 31, 2026 is ' 1,198.12 crore (March 31, 2025 - ' 1,039.44 crore).

Refer Note 16 for ageing of trade receivables.

Expected credit loss assessment

For trade receivables, as a practical expedient, the Company compute 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. At each reporting date, the historically observed default rates and changes in the forward-looking estimates are updated. Accordingly, loss allowances on trade receivables are measured using provision matrix at an amount equal to life time expected losses i.e. expected cash shortfall.

Credit Impaired

For expected credit loss as at each reporting date the Company assesses position for the assets for which credit risk has not significantly increased from initial recognition, assets for which credit risk has increased significantly but are not credit impaired and for assets for which credit risk has increased significantly and are credit impaired. The Company assesses detrimental impacts on the estimated future cash flows of the financial asset including loans, receivables and other assets. Based on the assessment of the observable data relating to significant financial difficulty and creditworthiness of the counterparties, the management believes that there are no financial assets which are credit impaired except as disclosed in the notes to the standalone financial statements.

Credit risk on cash and cash equivalent and deposits with the banks / financial institutions is generally low as the said deposits have been made with the banks / financial institutions / mutual funds who have been assigned high credit rating by international and domestic credit rating agencies.

Investments of surplus funds are made only with approved financial Institutions. Investments primarily include investments in units of liquid mutual funds, fixed deposits with banks having low credit risk.

Total non-current investments (other than subsidiaries and joint arrangements), Investments in liquid mutual funds and Investments in Government securities as on March 31, 2026 are ' 9.73 crore, Nil and Nil (March 31, 2025 - ' 11.95 crore, ' 2,075.93 crore and ' 347.63 crore ).

Incentives receivable from the Government

The Company has manufacturing units in various states; mainly those in Maharashtra, Rajasthan and West Bengal, are eligible for incentives under the respective State Industrial Policy. The Company has been accruing these incentives as refund claims in respect of VAT / GST paid on the basis that all attaching conditions were fulfilled by the Company and there was reasonable assurance that the incentive claims will be acknowledged/disbursed by the State Governments. The Company is confident about the ultimate realisation of the dues from the State Governments and there is no risk of default.

Financial assets other than trade receivables

The exposure to the Company arising out of this category consists of balances with banks, investments in liquid mutual funds, incentives receivables from government and loans which do not pose any material credit risk. Such exposure is also controlled, reviewed and approved by the management of the Company on routine basis. There are no indications that defaults in payment obligations would occur in respect of these financial assets.

C) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable price. The Company's treasury team is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. Management monitors the Company's liquidity position through rolling forecasts on the basis of expected cash flows. The Company has adequate surplus from operations and cash and bank balance (including deposits) which can be redeemed on a very short notice and hence carried negligible liquidity risk.

a) Other financial liabilities includes deposits received from customers amounting to ' 626.58 crore (March 31, 2025 - ' 600.59 crore). These deposits do not have a contractual re-payment term but are repayable on demand. Since, the Company does not have an unconditional right to defer the payment beyond 12 months from reporting date, these deposits have been classified under current financial liabilities. For including these amounts in the above mentioned maturity analysis, the Company has assumed that these deposits including interest thereon, will be repayable at the end of the next reporting period. The actual maturity period for the deposit amount and the interest thereon can differ based on the date on which these deposits are settled to the customers.

b) Other financial liabilities includes Security deposit from dealers, Payable towards purchase of Property, plant and equipment and Intangible assets (including hold and retention money), Purchase consideration payable towards acquisition of subsidiary and others (Refer Note 29 and 35).

Note 58 - Segment reporting

The Principal business of the Company is manufacturing and sale of cement (incl. intermediatory products) and cement related products. As per para 4 of Ind AS 108 "Operating Segments”, if a single financial report contains both consolidated financial statements and the separate financial statements of the Holding Company, segment information is required only in consolidated financial statements. Thus, the information related to disclosure of operating segments required under Ind AS 108 "Operating Segments”, is given by the Company in Consolidated Financial Statements.

3 The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

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

5 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.

6 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 Company (Ultimate Beneficiaries); or

b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

7 The Company does not have any 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.

8 The Company has not been declared a wilful 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.

9 The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017 (as amended).

10 The Company has not given any loans or advances in the nature of loans to promoters, directors, KMPs and/ or related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are repayable on demand, or without specifying any terms or period of repayment other than disclosed in note 55

Note 61 - Money received against Share Warrants

The Company had allotted 47,74,78,249 convertible warrants to Harmonia Trade and Investment Limited ("Harmonia'') (a promoter group entity) on October 18, 2022, for an issue price of ' 418.87 per warrant. Out of total issue price, ' 104.72 (25% of the issue price) per warrant was received as the initial subscription amount at the time of allotment of the warrants in the financial year 2022-23. Out of 47,74,78,249 convertible warrants, Harmonia opted to exercise and convert 21,20,30,758 warrants on March 28, 2024 and 26,54,47,491 warrants on April 15, 2024 and April 16, 2024 by paying balance subscription amount of ' 314.15 per warrant (i.e. 75% of the issue price) and thus an allotment of equity shares of face value of ' 2 each, at a premium of ' 416.87 per share was made to Harmonia on March 28, 2024 and April 17, 2024 respectively during the previous financial year 2024-25.

Notes -

(a) As on November 21,2025, the Government of India notified four Labour Codes effective immediately replacing the existing 29 labour laws. The impact of implementation of the Labour Codes has resulted in an increase of ' 58.02 crore in the liabilities for defined benefit obligation and compensated absences. The amount has been measured and recognised based on management assessment of the impact on defined benefit obligation and compensated absences on such implementation and net incremental liability has been recognised as an "Exceptional Items” for the year ended March 31,2026.

The Company continues to monitor the finalisation of Central and State Rules, as well as Government clarification on other aspects of the Labour Codes, and will recognise the consequential impact, if any, based on such developments.

(b) As explained in note 12(2)(d), the Company has recognised receivable of I 134.43 crore during the year ended March 31, 2026. Out of the total receivable, a credit of I 123.37 crore is disclosed under Exceptional items pertaining to the amount relating to earlier years up to March 31, 2025 in the standalone statement of profit and loss during the year ended March 31, 2026.

Note 63 - Acquisition of erstwhile Sanghi Industries Limited (now amalgamated with the Company)

Post acquisition of shares in erstwhile Sanghi Industries Limited ("Sanghi”) by Company from its promoter and promoter group and open market offer in terms of SEBI Regulations during the financial year 2023-24, the Company's shareholding in Sanghi along with holding of erstwhile promoters had reached 80.52% exceeding the minimum public shareholding norms. Accordingly, in order to comply with minimum public shareholding norms as per listing regulations, during the year ended March 31 2024, the Company sold 51,66,000 equity shares in open market i.e. 2.00% of total paid up equity share capital of Sanghi in March 2024 and incurred a loss of ' 15.82 crore. Additionally, during the previous year ended March 31 2025, the Company and Mr. Ravi Sanghi (erstwhile promoter of Sanghi) further sold 60,92,000 and 30,00,000 equity shares of Sanghi respectively aggregating to 90,92,000 equity shares (representing 3.52% of the Paid-up Equity Share Capital of Sanghi) through offer for sale through stock exchange mechanism to achieve Minimum Public Shareholding (MPS) requirements.

Post successful completion of Offer for Sale, the Promoter Shareholding have reduced from 78.52% to 75% of the Paid-up Equity Share Capital of Sanghi and Sanghi has achieved the MPS requirements, as mandated under Rules 19(2) (b) and 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR), read with Regulation 38 of the SEBI Listing Regulations. (Refer Note 68)

Note 64 - Acquisition of Cement Grinding Unit in Tuticorin:

During the previous year ended March 31, 2025, the Company had entered into a definitive agreement with My Home Industries Private Limited ("MHIPL') for acquisition of its 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu on slump sale basis at a total value of ' 413.75 crore. The acquisition of the above unit was concluded on April 22, 2024.

The Company had concluded final determination of fair values of identified assets and liabilities for the purpose of Purchase price allocation and based on the final fair valuation report of external independent expert during the previous year ended March 31, 2025.

During the previous year ended March 31, 2025, the Company had acquired 13,37,15,000 equity shares of Penna Cement Industries Limited (PCIL) (now amalgamated with the Company) equivalent to 99.94% stake from its existing promoter group for an agreed consideration of ' 4,298.94 crore, subject to agreed terms in terms of SPA dated July 1, 2024 pursuant to which, the Company has obtained control over PCIL with effect from August 16, 2024 ("acquisition date”). The Company also invested ' 3,910 Crore by subscribing 0.01% Optionally Convertible Debentures (OCDs) of ' 10 each of PCIL and it's subsidiary on August 13, 2024. PCIL has 14 MTPA capacity out of which 12 MTPA in Andhra Pradesh, Telangana & Maharashtra is operational and the remaining 2.0 MTPA in Rajasthan is under construction / development phase. PCIL has now amalgamated with the Company in terms of the Hon'ble National Company Law Tribunal order dated March 30, 2026. (Refer Note 68).

Pursuant to SPA, the Company has invested ' 1,171 crore (including ' 511 crore invested during the year ended March 31, 2026) by subscribing 0.01% Optionally Convertible Debentures (OCDs) of ' 10 each of Marwar Cement Limited (wholly owned step-down subsidiary of PCIL).

As per the terms of SPA, the Company has committed to pay an aggregate sum assured amount of ' 600 crore through PCIL (now amalgamated with the Company) and Marwar Cement Limited (a subsidiary Company) to the erstwhile promoters of PCIL for various projects related services and achievement of specified project milestones. During the year ended March 31, 2026, Marwar Cement Limited has paid an advance of ' 100 crore for the aforesaid purpose and balance amount is payable against future performance obligation.

Further in respect of certain disputed matters, pending settlement, the Company has filed various indemnity claims in terms of SPA aggregating to ' 197 crore on erstwhile promoters of PCIL which are pending settlement. Pending conclusion of the ongoing discussions between the Company and the erstwhile promoters of the PCIL, such claims have not been recorded in the books.

Note 67 - Amalgamation of Adani Cementation Limited:

During the year ended March 31, 2026, the Hon'ble National Company Law Tribunal, Ahmedabad Bench ("NCLT”) has pronounced the order sanctioning the Scheme of Amalgamation ("Scheme”) of Adani Cementation Limited with the Company on July 18, 2025. Earlier, the Board of Directors of the Company ("Transferee Company" or "Company”) had, vide its resolution dated June 27, 2024, approved the aforesaid Scheme of Amalgamation of Adani Cementation Limited ("Transferor Company") with the Company and their respective shareholders and creditors ("Scheme”) pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act”). The Appointed Date of the Scheme is April 1, 2024. Further all the conditions to make the Scheme effective, as specified under the Scheme, have been fulfilled and accordingly, the Scheme became effective from August 1, 2025 ("Effective Date”).

The authorised share capital of Transferor company has been added to the authorised share capital of the Company as per the order of the NCLT. Further, in terms of Scheme, on August 2, 2025, the Company issued and allotted its 87,00,000 Equity Shares of ' 2/- each at the premium of ' 610.49 per share to Adani Enterprises Limited (a related party and sole shareholder of the Transferor Company) as per the Share Exchange Ratio defined under the Scheme. With the allotment of the above shares, the paid-up equity share capital of the Company stands increased from existing 246,31,23,478 Equity Shares of ' 2 each to 247,18,23,478 Equity Shares of ' 2 each.

During the year ended March 31, 2026, the Ahmedabad Bench of the National Company Law Tribunal ('NCLT') vide its orders dated February 9, 2026 and March 30, 2026 respectively, have sanctioned the following Scheme of Arrangement with the Company with appointed date of April 1, 2024 and August 16, 2024 respectively, under section 230 to 232 and other applicable provisions of the Companies Act, 2013 read with the rules framed thereunder:

i. The Scheme of Arrangement between the Company's subsidiary Sanghi Industries Limited ("Transferor Company") ("Scheme 1”), the Company and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act”) read with the rules framed thereunder w.e.f. appointed date April 1, 2024.

ii. The Scheme of Arrangement between the Company's subsidiary Penna Cement Industries Limited ("Transferor Company") ("Scheme 2”), the Company and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act”) read with the rules framed thereunder w.e.f. appointed date August 16, 2024. [Collectively the "Scheme 1” and "Scheme 2” be referred to as "Schemes”].

The aforesaid Schemes were approved by the Board of Directors of the Company, Transferor Company ("Scheme 1”) and Transferor Company ("Scheme 2”) vide their respective resolutions dated December 17, 2024. The said Schemes have become effective from March 12, 2026 and Apil 10, 2026 (before approval of current year financial statements) respectively, on compliance of all the conditions precedent mentioned therein. Consequently, above mentioned subsidiaries of the Company got amalgamated with the Company w.e.f April 1, 2024 and August 16, 2024 respectively. Since the amalgamated transferor companies are under common control, the accounting of the said amalgamation has been done applying Pooling of Interest method as prescribed in Appendix C of Ind AS 103 'Business Combinations' w.e.f earlier of the first day of previous period presented or the date of acquisition whichever is later, i.e. April 1, 2024 and August 16, 2024 respectively. While applying Pooling of Interest method, the Company has recorded all assets, liabilities and reserves attributable to the subsidiaries at their carrying values as appearing in the consolidated financial statements of the Company as per guidance given in ITFG Bulletin 9.

On becoming effective of Scheme 1 and Scheme 2, the authorised share capital of the Company has increased to 110,903.55 Crore, consists of 18,553.55 Crore equity share capital having face value of 12/- each and 12,350.00 Crore preference share capital having face value of 110/- each. Subsequent to the year ended March 31, 2026, as per the terms of Scheme 1, on April 10, 2026, the Company issued and allotted its 12,993,708 Equity Shares of ' 2/- each to the equity shareholders of the Transferor Company (other than Transferee Company), on the basis of share swap ratio of 12 equity shares of the face value of ' 2 each fully paid of the Transferee Company, for every 100 equity shares of the face value of ' 10 each fully paid held by them in the Transferor Company and are recorded the same at nominal value. Equity Shares held by the Transferee Company in the Transferor Company stood cancelled and extinguished as per Scheme 1.

Further as per the terms of Scheme 2, Subsequent to year ended March 31, 2026, the Company has paid to the equity shareholders holding 85,000 equity shares of the Transferor Company (other than Transferee Company), whose names are recorded in the register of members on the Record Date, cash consideration of ' 321.50 for every 1 fully paid-up equity share of ' 10 each held by them in the Transferor Company. Equity Shares held by the Transferee Company in the Transferor Company stood cancelled and extinguished as per Scheme 2.

Additionally, as required under the Stamp Acts of relevant State, management has estimated and recognised a provision of 1 89.90 crore for the stamp duty liability payable on the order of the Hon'ble NCLT approving the Schemes after considering the provisions of the applicable stamp laws, judicial precedents and other relevant information available at the reporting date. The final stamp duty payable is subject to adjudication by the appropriate stamp authorities. The aforesaid provision has been disclosed as an Exceptional Item in the standalone statement of profit and loss for the year ended March 31, 2026.

The previous year figures of the Standalone Balance sheet, Standalone Statement of Profit and Loss (including Other Comprehensive Income) and Standalone Statement of Cash Flows have been restated accordingly as required under Appendix C of IND AS 103. Below is the summary of restatement of previous year / period figures:

(a) All the disclosures for the comparative period for the / as at year ended March 31,2025 have been restated on account of Schemes of amalgamation as approved by NCLT, wherever applicable.

(b) The Company had completed the final determination of the fair values of identified assets acquired and liabilities assumed of Sanghi Industries Limited ("Sanghi”) and Penna Cement Industries Limited ("Penna”) during FY 2024-25 and FY 2025-26, respectively. This determination was carried out for the purpose of purchase price allocation, based on the valuation reports issued by independent external experts as at the respective acquisition dates, in accordance with the requirements of Ind AS 103. Accordingly, the management has restated comparative numbers appearing in the Consolidated financial statements of the Company.

For accounting purposes (including the restatement of the comparative period) of the amalgamation of Sanghi and Penna, applying the Pooling of Interest method as prescribed in Appendix C of Ind AS 103 "Business Combinations”, along with the guidance provided in ITFG Bulletin 9, the management of the Company has used the aforementioned final fair values of identified assets acquired and liabilities assumed, as applied in the consolidated financial statements of the Company.

Note 69 - Amalgamation of Sanghi Industries Limited and Penna Cement Industries Limited:

Consequent to the amalgamation of subsidiary companies, Sanghi Industries Limited and Penna Cement Industries Limited, into the Company with effect from appointed date, i.e - April 1, 2024 and August 16, 2024 respectively, the current tax and deferred tax expenses for the year ended March 31, 2025 as recognised in the books by the Company and merged subsidiaries, have been reassessed based on the special purpose financial statement of respective subsidiary company (ies) and the Company, respectively to give tax (credit) effect mainly on account of utilisation of carry forward

tax losses, unabsorbed depreciation and additional depreciation on fair valuation of assets of these subsidiaries under the Income tax Act, 1961 and related impact on deferred tax asset / (liabilities). Accordingly, tax expenses for the year ended March 31, 2026 of the Company include one-time deferred tax credit of ' 1,186.71 crores (other than deductible temporary difference) and reversal of current tax provision of ' 569.19 crores respectively.

The restated standalone statement of profit and loss for the year ended March 31, 2025, includes deferred tax charge of 136.94 crore and 1133.91 crore recorded in the books of Sanghi Industries Limited and Penna Cement Industries Limited respectively, on reversal of deferred tax asset based on management assessment of no reasonable certainty that such deferred tax credit recorded in these Companies will be utilised in the future. The amounts are further adjusted by 147.62 crore for the year ended March 31, 2025 on account of deferred tax impact on depreciation / amortisation charged on accounting of value of property plant and equipments and intangible assets at fair value as per IndAS 103.

Note 70 - Amalgamation of ACC Limited and Orient Cement Limited:

During the year ended March 31,2026 the Board of Directors of the Company ("Amalgamated Company" or "Transferee Company” or "Company”) vide its resolutions dated December 22, 2025, approved -

i. The Scheme of Amalgamation of the Company's subsidiary ACC Limited ("Amalgamating Company") ("Scheme 1”) with the Company pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act”) read with the rules framed thereunder w.e.f. appointed date January 1, 2026.

ii. The Scheme of Amalgamation of the Company's subsidiary Orient Cement Limited ("Transferor Company") ("Scheme 2”) with the Company pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ("Act”) read with the rules framed thereunder w.e.f. appointed date May 1, 2025.

[Collectively the "Scheme 1” and "Scheme 2” be referred to as "Schemes”].

Upon the Scheme 1 becoming effective, the Amalgamated Company will issue and allot to the equity shareholders of the Amalgamating Company (other than Amalgamated Company), 328 equity shares of the face value of ' 2 each fully paid of the Amalgamated Company, for every 100 equity shares of the face value of ' 10 each fully paid held by them in the Amalgamating Company. Equity Shares held by the Amalgamated Company in the Amalgamating Company shall stand cancelled and extinguished on implementation of Scheme 1.

Upon the Scheme 2 becoming effective, the Transferee Company will issue and allot to the equity shareholders of the Transferor Company (other than Transferee Company), 33 equity shares of the face value of ' 2 each fully paid of the Transferee Company, for every 100 equity shares of the face value of ' 1 each fully paid held by them in the Transferor Company. Equity Shares held by the Transferee Company in the Transferor Company shall stand cancelled and extinguished on implementation of Scheme 2.

As on the date of adoption of this standalone financial statements by the board, the Company has filed necessary applications for seeking no-objections certificates from BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) for the Scheme 1 and Scheme 2. The proposed Schemes are further subject to necessary statutory and regulatory approvals under the applicable laws, including approval of the jurisdictional Hon'ble National Company Law Tribunal ("NCLT”).

Note 71

During the previous financial year 2024-25, the Company's management became aware of an indictment filed by United States Department of Justice (US DOJ) and a civil complaint by Securities and Exchange Commission (US SEC) in the United States District Court for the Eastern District of New York (EDNY) against a non-executive director of the Company. The director is indicted on three counts, namely (i) alleged securities fraud conspiracy (ii) alleged wire fraud conspiracy and (iii) alleged securities fraud for making false and misleading statements and as per US SEC civil complaint, director omitting material facts that rendered certain statements, misleading to US investors under Securities Act of 1933 and the Securities Act of 1934. The Company has not been named in these matters.

During the year ended March 31, 2026, the legal counsels representing the director have agreed to accept service of US SEC on behalf of such director, without accepting the jurisdiction of EDNY and reserving all rights and defences available to them. Subsequently, the legal counsels had filed letter with EDNY court and sought pre-motion conference in the

matter including grounds for dismissal of the US SEC's civil complaint based on all defences including as to jurisdiction and merits of the matters. As at reporting date, the matter is pending to be heard by EDNY court.

Having regard to the status of the above-mentioned matters as at reporting date, and the fact that the matters stated above do not pertain to the Company, there were no impact to the Company as at previous year ended March 31, 2025. There are no changes to the above conclusions as at and for the year ended March 31, 2026.

Note 72

In a matter relating to search and seizure in December 2020, the Competition Commission of India ("CCI”) initiated an investigation against cement companies in India including the Company regarding alleged anti-competitive behaviour and conducted search and seizure operations against few companies. The Director General (DG) of CCI in January 2021 sought information from the Company and the information sought was provided. In financial year 2022-23, CCI had sent the investigation report of the DG to the Company and directed the Company to file their suggestions / objections to the report. The Company had submitted its responses and the matter is pending for hearing before CCI. The Company is of the firm view that it has acted and continues to act in compliance with competition laws. The Company believes that this does not have any impact on the standalone financial statements.

Note 73 - Financial information in respect of joint operation that is not material

The Company has interest in a joint operation "Wardha Vaalley Coal Field Private Limited". The Company's interest is accounted on a line-by-line basis by adding together the book value of like items of assets, liabilities, income, expenses and cash flow in the Standalone Financial Statements. Summarised financial information of the joint operation is given below:

Note 74

Previous year's figures as disclosed below have been regrouped and rearranged where necessary to confirm to this year's classification.

The Company has reclassified certain expenses in the nature of sales promotion as other expenses and corresponding liabilities as Trade payables amounting to 1134.10 crore and 1149.10 crore respectively from earlier classification of such expenses being netted off from Revenue from Operations and liabilities classified as Other current liabilities respectively, considering the nature of such expenses. Accordingly figures for the year ended March 31, 2025, presented in standalone financial statements have been regrouped. This reclassification is not material and does not have any impact on Company's standalone financial statements.

The Company has reclassified the coal sales amounting to 1 319.98 crore as Other operating income (Revenue from Operations) from earlier classification as netted off from Power and Fuel expense, considering the nature of such income and related coal cost amounting to 1 316 crore as Purchase of stock in trade for the year ended March 31,2025. Similarly receivables of such coal sales amounting to 1328.98 crore have been reclassified to Trade receivables from earlier classification of Other receivables (other financial asset) as at March 31,2025. Accordingly figures as at and for the year ended March 31, 2025, presented in standalone financial statements have been regrouped. This reclassification is not material and does not have any impact on Company's standalone financial statements.

During the year ended March 31, 2026, the Company has reclassified the Goods and Service Tax refund recoverable (under dispute)(Refer Note 12(2)(a)) amounting to 1 274.50 crore as Other non current financial asset from earlier classification as other current assets. Accordingly figures as at year ended March 31, 2025, presented in standalone financial statements have been regrouped. This reclassification is not material and does not have any impact on Company's standalone financial statements.

Note 75 - Audit Trail

The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting software except audit trail feature was not enabled for direct changes to data for the period from April 1,2025 to February 23, 2026.

Further, there is no instance of audit trail feature being tampered with in respect of the accounting software where such feature is enabled. Additionally, the audit trail of relevant prior years has been preserved for record retention to the extent it was enabled and recorded in those respective years by the Company as per the statutory requirements for record retention except in respect of FY 2024-25 and FY 2025-26 for audit trail of direct changes to data from March 26, 2025 to March 31, 2025 and from April 1, 2025 to December 12, 2025 respectively.

Note 76- Figures below the amount of K 50,000 have not been disclosed.

Note 77- New and Amended Standards

The Ministry of Corporate Affairs (MCA), as part of continued convergence with IFRS, has initiated the process for introduction of Ind AS 118 Presentation and Disclosure in Financial Statements, which is converged with IFRS 18 issued by the IASB in April 2024. Ind AS 118 is intended to replace Ind AS 1 (Presentation of Financial Statements) and focuses on improving how entities present and communicate financial performance, particularly in the Statement of Profit and Loss.

This standard is proposed to be applicable for annual reporting periods beginning on or after April 1, 2027, subject to final notification by the MCA through amendment to the Companies (Indian Accounting Standards) Rules.

Note 78 - Events occuring after the Balance Sheet Date

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the standalone financial statements to determine the necessity for recognition and / or reporting of any of these events and transactions in the standalone financial statements. As on May 4, 2026, there are no material subsequent events to be recognised or reported.