l) Provisions and Contingencies:

Provision is recognised only when there is a present
obligation (legal or constructive) as a result of past
event and it is probable that there will be an outflow
of resources embodying economic benefits to settle
the obligation and the amount can be reliably

estimated. Provisions are not recognised for future
operating losses.

Contingent liabilities are disclosed when there is a
possible obligation that may, but probably will not
require an outflow of resources embodying economic
benefits or the amount of obligation cannot be
measured reliably. When the possible obligation in
respect of which the outflow of resources embodying
economic benefits is remote, it is not been disclosed
as Contingent Liability.

The Company exercises judgement in measuring and
recognising provisions and the exposures to
contingent liabilities related to pending litigation or
other outstanding claims subject to negotiated
settlement, mediation, arbitration or government
regulation, as well as other contingent liabilities.

m) Income Tax

Tax expense is the aggregate amount included in the
determination of profit or loss for the period in
respect of current tax and deferred tax.

Current Tax

Current tax is the amount of income tax payable in
respect of taxable profit for the year. The taxable
profit differs from profit before tax as reported in
Statement of Profit and Loss because of items of
income or expenses that are taxable or deductible
in other years and items that are never taxable
or deductible under the Income Tax Act. The
Company's current tax is calculated using tax rates
that have been enacted or substantively enacted by
the end of the reporting period for the amount
expected to be paid to / recovered from the taxation
authorities.

Deferred Tax

Deferred tax is recognised on temporary differences
between the carrying amounts of assets and liabilities
in the financial statement and the corresponding tax
bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised on

all temporary differences. Deferred tax assets are
recognised for all deductible temporary differences
to the extent that it is probable that taxable profit will
be available against which the deductible temporary
difference can be utilised. Deferred tax assets and
liabilities are not recognised if the temporary
difference arises from the initial recognition of an
asset or liability in a transaction (other than a
business combination) affects neither accounting
profit nor taxable profit (tax loss).

Deferred tax assets are recognised for the carry
forward of unused tax losses to the extent that it is
probable that future taxable profit will be available
against which the unused tax losses can be utilised
based on the review at the end of each reporting
period by the company considering the likely timing
and the level of future taxable profits together with
future tax planning strategies.

Deferred tax liabilities and assets are measured at the
tax rates that are expected to apply in the period in
which the liability is settled or the asset realised,
based on tax rates (and tax laws) that have been
enacted or substantively enacted by the end of the
reporting period. The measurement of deferred
tax liabilities and assets reflects the tax
consequences that would follow from the manner
in which the Company expects, at the end of
reporting period, to recover or settle the carrying
amount of its assets and liabilities.

As per the company's assessment on uncertainty over
tax treatment on recognising Income tax with respect
to Appendix C amendment, there are no material
uncertainties over tax treatments.

Presentation of Current and Deferred Tax

Current and deferred tax is recognised in the
statement of profit and loss except to the extent it
relates to items recognised in other comprehensive
income or directly in equity. In such cases, the tax is
also recognised in other comprehensive income.

The Company offsets current tax assets and current
tax liabilities, where it is legally enforceable right to
set off the recognised amount and where it intends
either to settle on a net basis or to realize the assets
and settle the liabilities simultaneously. In case of
deferred tax assets and deferred tax liabilities, the
company offsets only when they relate to income
taxes levied by the same taxation authorities and it
has legally enforceable right to set off current tax
assets against current tax liabilities.

n) Employee Benefits

Short Term Employee Benefits

All employee benefits payable wholly within twelve
months of rendering the service are classified as
short-term employee benefits and they are
recognized in the period in which the employee
renders the related service. The Company recognizes
the undiscounted amount of short-term employee
benefits expected to be paid as liability after
deducting the amount already paid.

Post-employment Benefits

The Company operates the following post¬
employment schemes:

a) defined contribution plans such as provident
fund; and

b) defined benefit plans such as gratuity.

Defined Contribution Plans

Defined contribution plans are Employee Provident
Fund, Employee State Insurance Scheme and
Government administered Pension Fund Scheme for
all applicable employees.

Recognition and measurement of defined
contribution plans:

The Company recognizes contribution payable to a
defined contribution plan as an expense in the
Statement of Profit and Loss when the employees
render services to the Company during the reporting
period. If the contribution payable for services

received from employees before the reporting date
exceeds the contributions already paid, the deficit
payable is recognized as a liability after deducting
the contribution already paid

Defined Benefit Plans
Gratuity obligations

The Company operates a defined benefit plan for
employees. The Company contributes to a seperate
entity (a fund), towards meeting the gratuity
obligation. The liability or asset recognised in the
balance sheet in respect of defined benefit gratuity
plans is the present value of the defined benefit
obligation at the end of the reporting period less the
fair value of plan assets. The defined benefit
obligation is calculated annually by Independent
actuaries using the projected unit credit method.The
present value of the defined benefit obligation is
determined by discounting the estimated future cash
outflows at a predetermined rate of interest based on
the market yields at the end of the reporting period on
government bonds that have terms approximating to
the terms of the related obligation.Remeasurement
gains and losses arising from experience adjustments
and changes in actuarial assumptions are
recognised in the period in which they occur, directly
in other comprehensive income.

Other Long Term Employee Benefit
Obligations

The liabilities for earned leave which is not expected
to be settled wholly within 12 months are measured
as the present value of expected future payments to
be made in respect of services provided by
employees up to the end of the reporting period using
the projected unit credit method. The benefits are
discounted at a predetermined rate of interest based
on yields on Government Bonds that have terms
approximating to the terms of the related obligation.
Remeasurements as a result of experience
adjustments and changes in actuarial assumptions
are recognised in the Statement of Profit and Loss.

o) Operating Segments

Operating segments are identified in accordance
with the criteria set out in paragraphs 5 to 10 of Ind
AS 108 viz. a component of an entity that engages in
business activities from which the company earns
revenues and incur expenses and the operating
results are regularly reviewed by the entity's Chief
Operating Decision Maker (CODM) to make
decisions about resources to be allocated to the
segment and assess the performance for which
discrete financial information is available.

The operating segments are reported after taken into
consideration of aggregation criteria and
quantitative threshold as mentioned in Para 12 and
13 of Ind AS 108.Operating segments are reported
in a manner consistent with the internal reporting
provided to the CODM of the company. The CODM
is responsible for allocating the resources and
assessing the performance of the operating segments
of the company.

p) Leases

The Compan/s significant leasing arrangements are
operating leases and cancelable in nature.

Company as Lessor

The lease rentals under such agreements are
recognised in the Statement of Profit and Loss as per
the terms of the lease. Rental income from operating
leases is generally recognised on a straight-line basis
over the term of the relevant lease. Where the rentals
are structured solely to increase in line with expected
general inflation to compensate for the Company's
expected inflationary cost increases, such increases
are recognised in the year in which such benefits
accrue. Contingent rental income arising under
operating leases are recognised as income in the
period in which they accrue.

Company as Lessee

The Compan/s lease asset classes primarily consists
of leases for land and building. The Company

assesses whether a contract contains a lease, at
inception of a contract. A contract is, or contains, a
lease if the contract conveys the right to control the
use of an identified asset for a period of time in
exchange for consideration. To assess whether a
contract conveys the right to control the use of an
identified assets, the Company assesses whether: (i)
the right to obtain substantially all of the economic
benefits from use of the identified asset through the
period of the lease and (ii) the right to direct the use of
the asset.

The Company recognises a right-of-use asset and a
lease liability at the lease commencement date. The
right of-use asset is initially measured at cost, which
comprises the initial amount of the lease liability
adjusted for any lease payments made at or before
the commencement date, plus any initial direct costs
incurred and an estimate of costs to dismantle and
remove the underlying asset or to restore the
underlying asset or the site on which it is located, less
any lease incentives received.

The Right-of-Use-Asset is subsequently measured at
cost less any accumulated depreciation thereon.
The right-of-use asset is depreciated using the
straight-line method from the commencement
date to the earlier of the end of the useful life
of the right-of-use asset or the end of the lease term.
The estimated useful lives of right-of-use assets are
determined on the same basis as those of property
plant and equipment. In addition, the right-of-use
asset is periodically reduced by impairment losses, if
any, and adjusted for certain remeasurements of the
lease liability.

The lease liability is initially measured at amortized
cost at the present value of the future lease payments.
The lease payments are discounted using the interest
rate implicit in the lease or, if not readily
determinable, using the incremental borrowing
rate. Lease liabilities are remeasured with a
corresponding adjustment to the related
Right-of-Use asset if the Company changes its

assessment of whether it will exercise an extension
ora termination option.

Lease liability and Right-of-Use asset have been
presented in the Balance Sheet and lease payments
have been classified as cash flows from financing
activities. The Interest expense and depreciation
relating to Right-of- Use Asset have also been
disclosed in the statement of profit and loss.

The Company has elected not to recognise right-of-
use assets and lease liabilities for short-term leases
and leases of low-value assets. The Company
recognises such lease payments relating to these
leases as an expense on a straight-line basis over the
lease term.

q) Cash Flow Statement

Cash flows are reported using the indirect method,
whereby profit or loss is adjusted for the effects of
transactions of non cash nature, any deferrals or
accruals of past or future cash receipts or payments.
The cash flows from operating, investing and
financing activities of the company are segregated
based on the available information.

For the purpose of presentation of cash flow
statement, cash and cash equivalents includes cash
on hand, cheques on hand, bank balances, demand
deposit with banks where the original maturity is
three months or less and other short term highly liquid
investments.

r) Borrowings

Borrowings are initially recognised at net of
transaction costs incurred and are subsequently
measured at amortised cost.

s) Borrowing Costs

Borrowing costs that are directly attributable to the
acquisition, construction or production of qualifying
assets, which are assets that necessarily take a
substantial period of time to get ready for their
intended use or sale are added to the cost of those

assets. Borrowing costs capitalisation be commenced
by the company when

i) incurs expenditure for the asset

ii) incurs borrowing cost

iii) incurs activities that are necessary to prepare
the asset for its intended use or sale.

All other borrowing costs are recognised as an
expense in the statement of profit and loss in the
period in which they are incurred.

t) Events occuring after balance sheet date

Where events occurring after the Balance Sheet date
provide evidence of conditions that existed at the end
of there porting period, the impact of such events is
adjusted within the financial statements. Otherwise,
events after the Balance Sheet date of material size or
nature are only disclosed.

u) Recent Accounting Pronouncments and
Application:

The Ministry of Corporate Affairs ("MCA") notifies
new standards or amendments to the existing
standards under the Companies (Indian Accounting
Standards) Rules, as issued from time to time.

Amendments notified and applicable from
April 1,2025:

The Company has evaluated the applicability of the
aforesaid amendments and concluded that:

i) In May 2025, MCA notified amendments to
Ind AS 21 "the effects of changes in Foreign
Exchange Rates", effective from April 1,2025 -
the amendments do not have any material
impact on the financial statements;

ii) In August 2025, MCA notified amendments to
Ind AS 1 "Presentation of Financial Statements" -
the amendments do not have any material
impact on the financial statements;

iii) In August 2025, MCA notified amendments to
Ind AS 7 "Statement of Cash Flows" and
Ind AS 107 "Financial Instruments" - the
amendments are presently not applicable to
the Company.

Amendments issued but not effective

MCA has notified certain further amendments
to Ind AS vide the Companies (Indian Accounting
Standards) Second Amendment Rules, 2025
dated August 13, 2025, which are effective for
annual reporting periods beginning on or after
April 1,2026.

These amendments include further changes to
Ind AS 1 - Presentation of Financial Statements

relating to classification of liabilities as current or
non-current, including requirements relating to
breaches of loan covenants, grace periods and
related disclosures; consequential amendments to
Ind AS 10 - Events after the Reporting Period; and
amendments to Ind AS 12 - Income Taxes relating to
disclosure requirements under the Pillar Two model
rules for international tax reform.

The Company has assessed on the preliminary
evaluation that the above amendment has no
material impact on the financial statements.

Description of nature and purpose of Reserve :

Capital Reserve is utilised in accordance with the Act and not available for distribution by way of dividend

Securities Premium represents premium on issue of Shares. The reserve will be utilised in accordance with the
provisions of the Companies Act 2013.

Capital Redemption Reserve is created for redemption of Preference Shares and it is not available for distribution by
way of dividend

General Reserve is created out of retained earnings from time to time.

Retained Earnings: Retained Earnings are the profits that the company has earned till date of the balance sheet less any
transfers to other reserves and dividend paid to the shareholders, if any.

Other Comprehensive Income: Other Comprehensive Income represents the cumulative gain/loss arising on
measurement of Equity Instruments at fair value and remeasurement of Defined Benefit Obligation. This would not be
reclassified to the statement of profit and loss.

21.1 Working Capital Rupee term loan of Nil (? 1250 Lakhs)
from The Federal Bank Ltd is secured by way of exclusive
charge against receivable from TANGEDCO for supply
of power from Cogeneration units and Wind mills.

The loan carries Interest at the rate of Repo Rate plus
sperad of 1.40% and repayable in 12 equal quarterly
instalments from December 2022

The loan amount repayable within twelve months of
Nil (?1250 Lakhs) is grouped under Short Term
Borrowings.

21.2 Loan from Sugar Development Fund (Government of
India) availed for modernisation of Sugar Unit-1,
amounting to ? 569.81 Lakhs (? 797.73 Lakhs) is
secured by way of pari passu first charge basis on the
immovable and movable properties of Sugar Plant
at Unit-1.

The loan carries interest at the rate of 2% below the bank
rate prevailing on the date of disbursement. Repayment
of principal and payment of interest thereon commences
after the expiry of one year from the repayment of bank
term loan and interest thereon or on the expiry of a
period of 5 years reckoned from the date of
disbursement whichever is earlier in ten half yearly
instalments.

The loan amount repayable within twelve months of
? 227.92 Lakhs (? 227.92 Lakhs) is grouped under
ShortTerm Borrowings.

21.3 Loan from Sugar Development Fund (Government of
India) availed for modernisation cum expansion of
Sugar Unit-Ill, amounting to ? 304.03 Lakhs (? 912.06
Lakhs) is secured by way of pari passu first charge basis
on the immovable and movable properties of Sugar
Plant at Unit-Ill.

The loan carries interest at the rate of 2% below the
bank rate prevailing on the date of disbursement
and repayable in ten half yearly instalments from
December 2021.

The loan amount repayable within twelve months of
?304.03 Lakhs (? 608.04 Lakhs) is grouped under Short
Term Borrowings.

21.4 Loan from Sugar Development Fund (Government of
India) availed for setting up of 20 MW bagasse based
cogeneration plant at Sugar Unit-Ill, amounting to Nil
(? 210.11 Lakhs) is secured by way of pari passu first
charge basis on the immovable and movable properties
of Cogeneration Plant at Unit-Ill.

The loan carries interest at the rate of 2% below the bank
rate prevailing on the date of disbursement. Interest shall
be paid half yearly for the first three years from the date
of each disbursement after which it shall be paid half
yearly alongwith repayment of principal.

Repayment of principal shall commence after expiry of
three years reckoned from the date of each disbursement
and it shall be paid in ten half yearly instalments.

The loan amount repayable within twelve months of
Nil (?210.11 Lakhs) is grouped under Short Term
Borrowings.

21.5 Loan from Sugar Development Fund (Government of
India) availed for expansion of distillery plant at Sugar
Unit-ll from 60 KLPD to 150 KLPD for production of
ethanol from molasses with spent wash incineration to
achieve ZLD, amounting to Nil (?1150.38 Lakhs) is
secured by way of pari passu first charge basis on the
immovableand movable properties of SugarUnit- II.

The loan carries interest at the date of 2% below the bank
rate prevailing on the date of disbursement. Repayment
of loan shall commence after the expiry of one year from
the date of each disbursement of the loan and shall be in
eight half yearly instalment. The interest shall be paid
annually for the first year from the date of disbursement
after whcih it shall be paid half yearly alongwith
instalments.

The loan amount repayable within twelve months of Nil
(?1150.38 Lakhs) is grouped under Short Term
Borrowings.

21.6 The purchase tax of Nil (? 35.19 Lakhs) payable to
Government of Karnataka for purchase of Sugarcane to
Sugar Unit III during the years ended 31.03.2015 and
31.03.2016 has been converted into interest free loan.
The loan is secured by issue of Bank Guarantee from
ICICI Bank Limited. The loan is repayable in five annual

instalments from the sixth year of Conversion into
Loan. The loan amount repayable within twelve months
is Nil (? 35.19 Lakhs) is grouped under Short Term
Borrowings.

21.7 None of the Directors has given any Security or
Guarantee to any borrowings.

26.1 Cash Credit and other Working Capital Limits/ Demand
Loan sanctioned by Punjab National Bank consortium
consists of Punjab National Bank, The Federal Bank Ltd,
Indian Overseas Bank, State Bank of India, Axis bank
Ltd, ICICI Bank Ltd and The HDFC Bank Ltd to the
company are secured byway of hypothecation of current
assets and third mortgage on the movable properties of
the Sugar units I, II, III, IV and V.

The credit limit availed as at 31.03.2026 is Nil
('8249.36 Lakhs).

The availed limits are repayable on demand and carries
interest rates between 7.15% and 9.15% per annum.

26.2 The Unsecured short term loan of Nil ('2358.82 lakhs)
under Bank's Electronic Vender Financing Scheme
from State Bank of India is repayable within forty five
days from the date of availment and carries interest
at6.95% perannum.

NOTE 44. DETAILS OF CRYPTO CURRENCY OR
VIRTUAL CURRENCY, IF ANY : Nil

NOTE 45. CONTINGENT LIABILITIES AND
COMMITMENTS (to the extent not
provided for)

CONTINGENT LIABILITIES

45.1. The company has preferred a Writ Appeal
before the Division Bench of the Hon'ble High
Court, Madras challenging the Order
pronounced in Writ Petition No. 4030/ 2002
dated 28.02.2006 in connection with increase
in rate of water charges and the method of
computation of water charges pursuant to the
G.O. No.474 dated 13.11.2001 for the water
drawn for industrial purposes. The approximate
amount under dispute is X634.66 Lakhs.

45.2. The Company has Income Tax demand of
X 203.15 lakhs for the assessment year
2020-21. The Company has filed an appeal
before the Income Tax Appellate Tribunal,
Chennai.

45.3. The Company has Income Tax demand of
' 1341.57 lakhs for the assessment year
2022-23. The Company has filed an appeal
before Income Tax Appellate Tribunal,
Chennai.

COMMITMENTS

45.3. Estimated amount of contracts remaining to be
executed on capital account - Tangible
Assets not provided for is X 9256.27 Lakhs
(?1168.11 lakhs).

NOTE 48. DISCLOSURE UNDER IND AS 19 :

i) DEFINED CONTRIBUTION PLAN :

The Company has defined contribution plan like Provident Fund and Employees State Insurance Scheme for the
benefit of employees. Contributions are made at the specified rate of percentage to payroll cost as per the
regualtions to fund the benefits. The expenses recognised in the statement of profit and loss is ? 881.94 Lakhs
(^871.32 Lakhs)

ii) DEFINED BENEFIT PLAN :

GRATUITY

The company provides the Gratuity benefit through annual contributions to the fund managed by Life Insurance
Corporation of India (LIC).

The defined benefit plans expose to the actuarial risks such as:

a) Interest Rate Risk:

The present value of the defined benefit plan obligation is calculated using a discount rate determined by
reference to government bond yields. A fall in interest rates will result in an increase in the ultimate cost of
providing the above benefit and will thus result in an increase in the value of the obligation.

b) Salary Risk:

The present value of the defined benefit plan is calculated based on the salary of plan participants in the
future. Accordingly, an increase in salary of the plan participants will increase the defined benefit
obligation and will have an exponential effect.

c) Investment Risk:

The present value of the defined benefit plan obligation is calculated using a discount rate determined by
reference to government bond yields. If there are significant changes in the discount rate during the inter
valuation period, it can result in wide fluctuations in the net liability or plan assets.

d) Variability in mortality rates:

The present value of the defined benefit plan obligation is calculated by reference to the best estimate of
the mortality of plan participants both during and after their employment. If actual mortality rates are
higher than the assumed mortality rate assumption, there is a risk of payment of gratuity benefits earlier
than expected.

The following table sets out the details of the defined benefits obligations and amount recognised in the
financial statements.

F SENSITIVITY ANALYSIS

The significant actuarial assumptions for the determination of the defined benefit obligations are discount rate
and expected salary increase. The sensitivity analysis below have been determined based on reasonably
possible changes of the respective assumptions occurring at the end of the reporting period, while holding all
other assumptions constant. The defined benefit obligation increases / (decrease) as follows:

The sensitivity analysis presented above may not be representative of the actual change in the defined
benefit obligations as it is unlikely that the change in assumptions would occur in isolation of one another
as some of the assumption may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit
obligations has been calculated using the Projected Unit Credit Method at the end of the reporting
period, which is the same as that applied in calculating the defined benefit obligation liability recognised
in the balance sheet.

The expected contribution to the plan for the next Annual reporting period is ? 0.85 Lakhs
(? 242.40 lakhs)

NOTE 49. SEGMENT INFORMATION FOR THE YEAR ENDED 31^st MARCH 2026

Revenues and expenses directly attributable to segments are reported under each reportable segment.
Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of
associated revenues of the segment/manpower efforts.

Income or Expenses which are not attributable or allocable to segments have been disclosed as unallocable
Income / Expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed
under each reportable segment. Geographical revenues are allocated based on the location of the customer.

The Company has the following operating segments, which are its reportable segments. Operating segment
disclosures are consistent with the information provided to and reviewed by the Chief Operating Decision
Maker (CODM).

The Company uses the following Fair Value Hierarchy for determining and disclosing the fair value of the
finanicial instruments.

Level 1 : quoted prices (unadjusted) in active markets for identical assets or liabilties

Level 2 : inputs other than quoted prices included in level 1 that are observable for the asset or liability,
either directly or indirectly

Level 3 : inputs that are unobservable for the asset or liability.

The carrying amount of financial assets and liabilities measured at amortised cost in the financial statements are a
reasonable approximation of their fair values since the company does not anticipate that the carrying amount would be
significantly different from the values that would eventually be received or settled.

NOTE 59. FINANCIAL RISK MANAGEMENT - OBJECTIVES & POLICIES

The Compan/s principal financial liabilities includes borrowings, trade payable and other financial liabilities. The main
purpose of these financial liabilities is to finance the Compan/s operations. The Compan/s principal financial assets
include investments, trade receivables, cash and cash equivalents, Bank Balance other than cash and cash equivalent,
loans and other financial assets that derive directly from its operations.

The Company is exposed to market risk, credit risk and liquidity risk. The Compan/s senior management under the
supervision of Risk management committee / Board of Directors oversees the management of these risks and the
appropriate financial risk governance framework for the Company. The senior management provides assurance that the
Compan/s financial risk activities are governed by appropriate policies and procedures and that financial risks are
identified, measured and managed in accordance with the Compan/s policies and risk objectives.

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 price. Market risk comprises three types of risk: interest rate risk, currency risk and other risks,
such as regulatory risk and commodity price risk. Financial Instruments affected by market risk includes investment,
borrowings, trade receivable, trade payable and loans.

i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rate. The Compan/s exposure to the risk of changes in market interest rates
relates primarily to the Compan/s borrowings obligations with floating interest rate. Interest rate risk is
managed by maintaining a combination of fixed and floating rate debt and cash management policies.

The company determines the sensitivity of 25 basis points increase (or) decrease on borrowings with
floating rate of interest. The impact on the Profit after tax at the reporting date, assuming outstanding
balance and other factors remain constant for the whole year, except the rate of interest, would be Nil
(? 29.65 Lakhs).

ii) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
changes in foreign exchange rate. The Compan/s exposure to the risk of changes in foreign exchange rate
relates primarily to the Compan/s foreign currency denominated financial assets and financial liabilities.

The carrying amounts of the Compan/s foreign currency denominated monetary assets and liabilities at the
end of the reporting period is as under.

The above table represents total exposure of the Company towards foreign exchange denominated assets an
liabilities. The details of unhedged exposures are given as part of Note No.53.

The Company determines the sensitivity of 10% increase or decrease in the foreign currency rate. The impact on
the profit after tax and total equity at the reporting date, assuming other factors constant except the exchange
differencewill be?4.71 Lakhs (?13.11 Lakhs).

iii) Other price risk

Other price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market
traded price. The Company is exposed to price risk arising mainly from investments in equity instruments
recognised at FVTOCI. As at 31^st March, 2026, the carrying value of such equity instruments recognised at
FVTOCI amounts to? 419.83 Lakhs (? 440.36 Lakhs). The details of such investments in equity instruments are
given in Note No. 5.

The Company is exposed to price risk arising mainly from investments in current instruments recognised at
FVTPL. As at 31* March, 2026, the carrying value of such current investments recognised at FVTPL amounts to
? 25905.95 Lakhs (Nil). The details of such current investments are given in Note No 11.

b) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument leading to a
financial loss. Credit risk arising from trade receivables is managed in accordance with the Compan/s established
policy, procedures and control relating to customer credit risk management. The Company had managed the

credit risk with respect to trade receivables by selling majority of sugar sales covering minimal portion on
credit basis.

The Compan/s exposure and credit ratings of its counterparties are continuously monitored and the aggregate
value of transactions is reasonably spread amongst the counterparties. The company manages the risk by credit
aprroval. Credit quality of a customer is assessed based on a detailed study of credit worthiness and accordingly
individual credit limits are defined /modified.

The impairment for financial assets are based on assumptions about risk of default and expected loss rates.
The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation,
based on the Compan/s past history, existing market conditions as well as forward looking estimates at the end of
each balance sheet date. The company has recognised provision for Expected Credit Loss on the financial assets in
the statement of Profit & Loss.

Financial assets are written off when there is no reasonable expectation of recovery. However, the Company
continues to attempt to recover the receivables and are recognised in the Statement of Profit and Loss when
recovered.

c) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet commitments associated
with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result for
an inability to sell a financial asset quickly close to its fair value.

The Company has an established liquidity risk management framework for managing its short term, medium term
and long term funding. The Company also has adequate credit facilities agreed with banks to ensure that there is
sufficient cash to meet all its normal operating commitments in a timely and cost-effective manner.

NOTE 60. CAPITAL MANAGEMENT

The objective of Capital Management is to safeguard its ability to continue as a going concern and optimise the
returns to shareholders. Capital includes paid up equity capital, securities premium and all other equity reserves
attributable to the equity shareholders of the Company and debt refers to Long Term Borrowings, Short Term
Borrowings and Interest accrued thereon for the purpose of Capital Management of the Company.

The Company manages its capital structure and makes adjustments in light of changes in the financial condition
and the requirements of the financial covenants. The capital structure of the Company consist of net debt and total
equity of the Company.

In order to achieve this overall objectives, the Company's capital management, amongst other things, aims to
ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital
structure requirements. The Company has complied with these covenants and there have been no breaches in the
financial covenants of any interest-bearing loans and borrowings.

NOTE 61. ADDITIONAL REGULATORY INFORMATION

i) Title Deed of Immovable Properties not held in the name of the Company:

All immovable properties of the Company are held in the name of the Company.

ii) Fair Value of Investment Property :

The Company as on the reporting date doesn't have any Investment Properly.

iii) Revaluation of Property, Plant and Equipment :

The Company has not revalued the Properly, Plant and Equipment during the year.

iv) Revaluation of Intangible Assets : Not Applicable.

v) Loans and advances granted to Promoters, Directors, KMPs and the related parties :

The Company has not granted any loans to promoters, directors, KMPs and the related parties as defined
under Companies Act, 2013 either jointly or severally with any other person that are repayable on demand
or without specifying any terms or period of repayment.

vi) Capital Work-in-Progress :

The ageing schedule of Capital Work-in-Progress has been disclosed in Note No. 2 - Properly, Plant and
Equipment.

vii) Intangible Assets under development : Not Applicable.

viii) Details of Benami Property : Nil

x) Wilful Defaulter : The Company has not been declared wilful defaulter.

xi) Relationship with struck off companies : Nil

xii) Registration / Satisfaction of charges with Registrar of Companies : The Company does not have
any charges yet to be registered or file the satisfaction of charges with Registrar of Companies beyond
the statutory period.

xiii) Layers of Companies : The Company does not have any subsidiary or associate company.

xiv) Approved Scheme of Arrangements: Nil

xv) Utilisation of Borrowed funds and Share premium:

A) The Company has not advanced or loaned or invested funds to any other person(s) or entityfies),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall directly
or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Company (ultimate beneficiaries) or provide any guarantee, security or the like to or
on behalf of the Ultimate Beneficiaries.

B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the Group
shall directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the funding party (ultimate beneficiaries) or provide any guarantee,
security or the like on behalf of the ultimate beneficiaries.

NOTE 62. Previous year's figures have been regrouped / reclassified wherever necessary.

NOTE 63. EVENTS OCCURING AFTER BALANCE SHEET DATE - PROPOSED DIVIDEND

The Board of Directors at its meeting held on 27¹*¹ May 2026 has recommended a payment of final dividend of
? 12.50/- Per equity share for the year ended 31^st March, 2026 amounting to? 1567.46 lakhs.

The above is subject to approval at the ensuing Annual General Meeting of the Company and hence is not
recognised as a liability.

NOTE 64. APPROVAL OF FINANCIAL STATEMENTS

The Financial statements are reviewed and recommended by Audit Committee and approved for issue by the
Board of Directors at their meeting held on 27^th May 2026.