3.9 Provisions, Contingent Liabilities, Contingent Assets and
Commitments:

Provisions are recognized when the Company has a present
obligation (legal or constructive) as a result of a past event. It
is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. If the
effect of the time value of money is material, provisions are
discounted using equivalent period government securities
interest rate. Unwinding of the discount is recognized in the
statement of profit and loss as a finance cost. Provisions
are reviewed at each balance sheet date and are adjusted to
reflect the current best estimate.

Contingent liabilities are disclosed when there is a possible
obligation arising from past events, the existence of which
will be confirmed only by the occurrence or non-occurrence
of one or more uncertain future events not wholly within the
control of the Company or a present obligation that arises
from past events where it is either not probable that an outflow
of resources will be required to settle or a reliable estimate
of the amount cannot be made. Information on contingent
liability is disclosed in the Notes to the Financial Statements.
Contingent assets are not recognized. However, when the
realization of income is virtually certain, then the related
asset is no longer a contingent asset, but it is recognized as
an asset.

3.10 Revenue recognition and other income:

Sale of goods and Services:

The Company derives revenues primarily from sale of
products comprising of Laboratory Glassware, Laboratory
Equipments, Pharmaceuticals Primary Packaging (Ampoules
and Vials),Process System and Domestic Glassware Items.

Revenue from contracts with customers is recognized
when control of the goods or services are transferred to the
customer at an amount that reflects the consideration entitled
in exchange for those goods or services. Generally, control
is transferred upon shipment of goods to the customer or
when the goods is made available to the customer, provided
transfer of title to the customer occurs and the Company
has not retained any significant risks of ownership or future
obligations with respect to the goods shipped.

Revenue from rendering of services is recognized over the time
by measuring the progress towards complete satisfaction of
performance obligations at the reporting period.

Revenue is measured at the amount of consideration which
the Company expects to be entitled to in exchange for
transferring distinct goods or services to a customer as
specified in the contract, excluding amounts collected on
behalf of third parties (for example taxes and duties collected
on behalf of the government). Consideration is generally
due upon satisfaction of performance obligations and a
receivable is recognized when it becomes unconditional.

The Company does not have any contracts where the period
between the transfer of the promised goods or services to the
customer and payment by the customer exceeds one year.
As a consequence, it does not adjust any of the transaction
prices for the time value of money.

Revenue is measured based on the transaction price, which
is the consideration, adjusted for volume discounts, scheme
discount and price concessions, if any, as specified in the
contract with the customer. Revenue also excludes taxes
collected from customers.

Incentives on exports related to operations are recognized in
the statement of profit and loss after due consideration of
certainty of utilization/receipt of such incentives.

Contract balances:

Trade receivables:

A receivable represents the Company's right to an amount of
consideration that is unconditional.

Contract liabilities:

A contract liability is the obligation to transfer goods or
services to a customer for which the Company has received
consideration (or an amount of consideration is due) from
the customer. If a customer pays consideration before the
Company transfers goods or services to the customer, a
contract liability is recognized when the payment is made.
Contract liabilities are recognized as revenue when the
Company performs under the contract.

Interest Income:

Interest income from a financial asset is recognized when it is
probable that the economic benefits will flow to the Company
and the amount of income can be measured reliably. Interest
income is accrued on a time basis, by reference to the principal
outstanding and at the effective interest rate applicable,
which is the rate that exactly discounts estimated future cash
receipts through the expected life of the financial asset to
that asset's net carrying amount on initial recognition.

Dividend Income:

Dividend Income is recognized when the right to receive the
payment is established.

Rental income:

Rental income arising from operating leases is accounted for
on a straight-line basis over the lease terms and is included
as other income in the statement of profit or loss.

3.11 Foreign currency:

Transactions in foreign currencies are recorded at the
exchange rate prevailing on the date of transaction. Monetary
assets and liabilities denominated in foreign currencies
are translated at the functional currency closing rates of
exchange at the reporting date.

Exchange differences arising on settlement or translation
of monetary items are recognized in statement of profit
and loss except to the extent of exchange differences
which are regarded as an adjustment to interest costs on
foreign currency borrowings that are directly attributable
to the acquisition or construction of qualifying assets, are
capitalized as cost of assets.

In case of an asset, expense or income where a non-monetary
advance is paid/received, the date of transaction is the date
on which the advance was initially recognized. If there were
multiple payments or receipts in advance, multiple dates of
transactions are determined for each payment or receipt of
advance consideration.

3.12 Employee Benefits:

Short term employee benefits are recognized as an expense
in the statement of profit and loss of the year in which the
related services are rendered.

Leave encashment is accounted as Short-term employee
benefits and is determined based on projected unit credit
method, on the basis of actuarial valuations carried out by
third party actuaries at each Balance Sheet date.

Contribution to Provident Fund, a defined contribution plan,
is made in accordance with the statute, and is recognized
as an expense in the year in which employees have rendered
services.

The cost of providing gratuity, a defined benefit plans, is
determined based on Projected Unit Credit Method, on
the basis of actuarial valuations carried out by third party
actuaries at each Balance Sheet date. Actuarial gains and
losses arising from experience adjustments and changes
in actuarial assumptions are charged or credited to other
comprehensive income in the period in which they arise.
Other costs are accounted in statement of profit and loss.

Remeasurements of defined benefit plan in respect of post
employment and other long term benefits are charged to the
other comprehensive income in the year in which they occur.
Remeasurements are not reclassified to statement of profit
and loss in subsequent periods.

3.13 Share Based Payment:

The cost of equity-settled transactions with employees is
measured at fair value at the date at which they are granted.
The fair value of share awards are determined with the
assistance of an external valuer and the fair value at the grant
date is expensed on a proportionate basis over the vesting
period based on the Company's estimate of shares that will
eventually vest. The estimate of the number of stock options
likely to vest is reviewed at each balance sheet date up to the
vesting date at which point the estimate is adjusted to reflect
the current expectations.

3.14 Taxes on Income:

Income tax expense represents the sum of current tax
(including income tax for earlier years) and deferred tax. Tax
is recognized in the statement of profit and loss, except to
the extent that it relates to items recognized directly in equity
or other comprehensive income, in such cases the tax is
also recognized directly in equity or in other comprehensive
income. Any subsequent change in direct tax on items initially

recognized in equity or other comprehensive income is also
recognized in equity or other comprehensive income.

Current tax provision is computed for income calculated after
considering allowances and exemptions under the provisions
of the applicable Income Tax Laws. Current tax assets and
current tax liabilities are off set, and presented as net.

Deferred tax is recognized on differences between the carrying
amounts of assets and liabilities in the Balance sheet and the
corresponding tax bases used in the computation of taxable
Income. Deferred tax liabilities are generally recognized for
all taxable temporary differences, and deferred tax assets are
generally recognized for all deductible temporary differences,
carry forward tax losses, unutilized tax credits and allowances
to the extent that it is probable that future taxable profits
will be available against which those deductible temporary
differences, carry forward tax losses, unutilized tax credits
and allowances can be utilized. 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 realized, based on tax rates that have been enacted
or substantively enacted by the end of the reporting period.
The carrying amount of Deferred tax liabilities and assets are
reviewed at the end of each reporting period.

3.15 Current and non-current classification:

The Company presents assets and liabilities in statement of
financial position based on current/non-current classification.

The Company has presented non-current assets and current
assets before equity, non-current liabilities and current
liabilities in accordance with Schedule III, Division II of
Companies Act, 2013 notified by MCA.

An asset is classified as current when it is:

a) Expected to be realized or intended to be sold or
consumed in normal operating cycle,

b) Held primarily for the purpose of trading,

c) Expected to be realized within twelve months after the
reporting period, or

d) Cash or cash equivalent unless restricted from being
exchanged or used to settle a liability for at least twelve
months after the reporting period.

All other assets are classified as non-current.

A liability is classified as current when it is:

a) Expected to be settled in normal operating cycle,

b) Held primarily for the purpose of trading,

c) Due to be settled within twelve months after the
reporting period, or

d) There is no unconditional right to defer the settlement of
the liability for at least twelve months after the reporting
period.

All other liabilities are classified as non-current.

The operating cycle is the time between the acquisition of
assets for processing and their realization in cash or cash
equivalents. Deferred tax assets / liabilities are classified as
non-current assets / liabilities. The Company has identified
twelve months as its normal operating cycle.

3.16 Off-setting financial Instrument:

Financial assets and liabilities are offset and the net
amount is reported in the balance sheet where there is a
legally enforceable rights to offset the recognized amounts
and there is an intention to settle on a net basis or realize
the asset and settle the liability simultaneously. The legally
enforceable rights must not be contingent on future events
and must be enforceable in the normal course of business
and in the event of default, insolvency or bankruptcy of the
Company or counterparty.

NOTE 4: SIGNIFICANT ACCOUNTING JUDGEMENTS,
ESTIMATES AND ASSUMPTIONS

The preparation of the Financial Statements requires management
to make judgements, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets, liabilities,
the accompanying disclosures and the disclosure of contingent
liabilities. Uncertainty about these assumptions and estimates
could result in outcomes that require a material adjustment to
the carrying amount of assets or liabilities affected in future
periods. The key assumptions concerning the future and other
key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial
year, are described below. The Company used its assumptions
and estimates on parameters available when the Financial
Statements were prepared. However, existing circumstances
and assumptions about future developments may change due
to market changes or circumstances arising that are beyond
the control of the Company. Such changes are reflected in the
assumptions when they occur.

4.1 Property, Plant and Equipment, Investment Properties and
Other Intangible Assets:

Management reviews the estimated useful lives and residual
values of the assets annually in order to determine the
amount of depreciation to be recorded during any reporting
period. The useful lives and residual values as per schedule
II of the Companies Act, 2013 are based on the Company's
historical experience with similar assets and taking into
account anticipated technological changes, whichever is
more appropriate.

4.2 Income Tax:

Company reviews at each balance sheet date the carrying
amount of deferred tax assets. The factors used in
estimates may differ from actual outcome which could lead
to an adjustment to the amounts reported in the Financial
Statements.

4.3 Impairment of non-financial assets:

The Company assesses at each reporting date whether
there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for
an asset is required, the Company estimates the asset's
recoverable amount. An asset's recoverable amount is the
higher of an asset's or Cash Generating Units (CGU) fair value
less costs of disposal and its value in use. It is determined
for an individual asset, unless the asset does not generate
cash inflows that are largely independent to those from other
assets or groups of assets. Where the carrying amount of an
asset or CGU exceeds its recoverable amount, the asset is
considered impaired and is written down to its recoverable
amount.

In assessing value in use, the estimated future cash flows are
discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of
money and the risks specific to the asset. In determining fair
value less cost of disposal, recent market transactions are
taken into account. If no such transactions can be identified,
an appropriate valuation model is used. These calculations
are corroborated by valuation multiples or other available fair
value indicators.

4.4 Defined benefits plans:

The Cost of the defined benefit plan and other post¬
employment benefits and the present value of such obligation
are determined using actuarial valuations. An actuarial
valuation involves making various assumptions that may
differ from actual developments in the future. These include
the determination of the discount rate, future salary increases,
mortality rates and attrition rate. Due to the complexities
involved in the valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes in these
assumptions. All assumptions are reviewed at each reporting
date.

4.5 Recoverability of trade receivable:

Judgements are required in assessing the recoverability
of overdue trade receivables and determining whether a
provision against those receivables is required. Factors
considered include the credit rating of the counterparty, the
amount and timing of anticipated future payments and any
possible actions that can be taken to mitigate the risk of non¬
payment.

4.6 Revenue Recognition:

The Company's contracts with customers could include
promises to transfer multiple products and services to a
customer. The Company assesses the products / services
promised in a contract and identify distinct performance
obligations in the contract. Identification of distinct
performance obligation involves judgement to determine
the deliverables and the ability of the customer to benefit
independently from such deliverables.

Judgement is also required to determine the transaction price
for the contract. The transaction price could be either a fixed
amount of customer consideration or variable consideration
with elements such as volume discounts, price concessions.
Any consideration payable to the customer is adjusted to
the transaction price, unless it is a payment for a distinct
product or service from the customer. The estimated amount
of variable consideration is adjusted in the transaction price
only to the extent that it is highly probable that a significant
reversal in the amount of cumulative revenue recognized will
not occur and is reassessed at the end of each reporting
period. The Company allocates the elements of variable
considerations to all the performance obligations of the
contract unless there is observable evidence that they pertain
to one or more distinct performance obligations.

4.7 Provisions:

Provisions and liabilities are recognized in the period when
it becomes probable that there will be a future outflow of
funds resulting from past operations or events and the
amount of cash outflow can be reliably estimated. The timing
of recognition and quantification of the liability require the
application of judgement to existing facts and circumstances,
which can be subject to change. Since the cash outflows can
take place many years in the future, the carrying amounts of
provisions and liabilities are reviewed regularly and adjusted
to take account of changing facts and circumstances.

19.4 During the year, pursuant to exercise of the options under "Borosil Scientific Limited - Special Purpose Employee Stock Scheme 2023'
("SP ESOP 2023”)”, the Company has made allotment of 1,36,911 Equity Shares (Previous Year - Nil) of the face value of '1/- each,
which has resulted into increase of paid up Equity Share Capital by '1.37 lakhs (Previous Year - Nil) and Securities Premium by '154.47
lakhs (Previous Year - Nil).

19.5 Terms/Rights attached to Equity Shares:

The Company has only one class of shares referred to as equity shares having a par value of '1/- per share. Holders of equity shares are
entitled to one vote per share. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in
the annual general meeting, except in case of interim dividend. In the event of liquidation of the Company, the holders of equity shares
will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be
in the same proportion as the capital paid-up on the equity shares held by them bears to the total paid-up equity share capital of the
Company.

The above sensitivity analysis is based on a change in an assumption while holding all other assumptions constant. In practice,
this is unlikely to occur, and changes in some of the assumptions may be correlated. In presenting the above sensitivity analysis,
the present value of defined benefit obligation has been calculated using the projected unit credit method at the end of reporting
period, which is the same as that applied in calculating the defined obligation liability recognized in the balance sheet.

37.3 Risk exposures

A. Actuarial Risk:

It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in
obligation at a rate that is higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate then the Gratuity benefits will be
paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of cash flow will lead to an
actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate then the Gratuity benefits will
be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at the resignation date.

B. Investment Risk:

For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not be the fair value
of instruments backing the liability. In such cases, the present value of the assets is independent of the future discount rate. This
can result in wide fluctuations in the net liability or the funded status if there are significant changes in the discount rate during
the inter-valuation period.

C. Liquidity Risk:

Employees with high salaries and long durations or those higher in hierarchy accumulate significant level of benefits. If some of
such employees resign/retire from the Company there can be strain on the cash flows.

D. Market Risk:

Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets. One actuarial
assumption that has a material effect is the discount rate. The discount rate reflects the time value of money. An increase in
discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa. This assumption depends on the
yields on the corporate/government bonds and hence the valuation of liability is exposed to fluctuations in the yields as at the
valuation date.

E. Legislative Risk:

Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/regulation.
The government may amend the Payment of Gratuity Act thus requiring the companies to pay higher benefits to the employees.
This will directly affect the present value of the Defined Benefit Obligation and the same will have to be recognized immediately in
the year when any such amendment is effective.

NOTE 38: SHARE BASED PAYMENTS

Employee Stock Option Schemes of Borosil Scientific Limited (BSL)

The Company offers equity based award plan to its employees through the Company's stock option plan.

38.1 “Borosil Scientific Limited - Special Purpose Employee Stock Option Plan 2023' (“SP - ESOP 2023”)”

Pursuant to the Scheme of Arrangement approved by the National Company Law Tribunals of Mumbai Bench ("NCLTs") vide its order
pronounced on 2^nd November, 2023, Employees of Borosil Limited who had options outstanding as on record date, under (a) Borosil
Limited - Special Purpose Employee Stock Option Plan 2020; and (b) Borosil Limited - Employee Stock Option Scheme 2020 ("BL
ESOS"), were issued 3 numbers of options in the Company for every 4 number of options held in the Borosil Limited, whether the same
are vested or not under BL ESOS.

Accordingly, with a view to restore the value of the employee stock options ("Options") pre and post demerger by providing fair
adjustment in respect of Options granted under BL ESOS, the Company has adopted and implemented a new employee stock option
plan namely 'Borosil Scientific Limited - Special Purpose Employee Stock Option Plan 2023' ("SP - ESOP 2023") in the meeting of the
Board of Directors of the Company held on 23^rd November, 2023, in order to enable the Company to issue options as mentioned above.

Pursuant to the Scheme of Arrangement and SP-ESOS 2023, the Nomination and Remuneration Committee of the Company, has
granted 5,21,139 stock options on 11^th July, 2024.

38.2 BSL - Employee Stock Option Scheme (BSL - ESOS) of Borosil Scientific Limited

With a view to incentivize and motivate the employees, the Company has formulated and adopted the BSL - Employee Stock Option
Scheme ('BSL - ESOS') to grant stock options to the eligible employees. The Nomination and Remuneration Committee has been
authorized for overall administration and superintendence of BSL - ESOS.

In order to provide equity settled incentive to specific employees of the Company and its Subsidiaries, the Company has introduced
BSL-ESOS. The BSL-ESOS includes tenure-based stock options. The specific employees to whom these Options are granted and their
eligibility criteria are determined by the Nomination and Remuneration Committee.

During the year, 14,08,100 options were granted to the eligible employees at an exercise price of '141 per options. Exercise period is 5
years from the date of vesting of the respective options.

The Company has recognized total expenses of '30.24 lakhs related to above equity settled share-based payment transactions for
the year ended 31^st March, 2025. During the year, the Company has granted 1,47,600 options to the employees of Goel Scientific Glass
Works Limited, Subsidiary Company. The assets recognized on account of this will be receivable upon exercise of the options by such
employees.

38.3 Borosil Limited Employee Stock Option Schemes:-

Under the Borosil Limited - Special Purpose Employee Stock Option Plan 2020' ("ESOP 2020") and Borosil Limited Employee Stock
Option Scheme 2020 (New ESOS 2020), Borosil Limited had granted employee stock options to the eligible employees of the Company,
which includes eligible employees of the demerged undertaking and eligible employees of the Borosil Technologies Limited ("Transferor
Company").

The Company has recognized total expenses of '16.99 lakhs (Previous year '48.64 lakhs) related to above equity settled share-based
payment transactions during the year and the said amount shown as payable to Borosil Limited under the head current financial
liabilities.

NOTE 39: PROVISIONS

Disclosures as required by Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets:

NOTE 40: SEGMENT REPORTING

40.1 Information about primary segment:

The Company has identified following reportable segments as primary segment. Segments have been identified and reported taking
into account nature of products and services, the differing risks and returns and the internal business reporting systems.

a) Scientific - Laboratory Glass & equipment and Process System:- Comprising of items used in laboratories, production floor and
research and development

b) Glassware:- Pharmaceutical primary packaging and domestic glassware items

c) Others:- Comprising of Filter Paper etc.

40.2 Segment revenue, results, assets and liabilities:

Revenue and results have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and
expenses which is related to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as
"Unallocable".

Segment assets and segment liabilities represent assets and liabilities in respective segments. Segment assets include all operating
assets used by the operating segment and mainly includes trade receivable, inventories and other receivables. Segment liabilities
primarily include trade payables and other liabilities. Common assets and liabilities which cannot be allocated to any of the segments
are shown as a part of unallocable assets and liabilities.

40.3 The chief operational decision maker monitors the operating results of its Business Segments separately for the purpose of making
decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is
measured consistently with profit or loss in the financial statements. Operating segment have been identified on the basis of the nature
of products / services and have been identified as per the quantitative criteria specified in Ind AS.

42.6 Description of the valuation processes used by the Company for fair value measurement categorized within level 3:

At each reporting date, the Company analyzes the movements in the values of financial assets and liabilities which are required to be
remeasured or reassessed as per the accounting policies. For this analysis, the Company verifies the major inputs applied in the latest
valuation by agreeing the information in the valuation computation and other relevant documents.

The Company also compares the change in the fair value of each financial asset and liability with relevant external sources to determine
whether the change is reasonable. The Company also discusses of the major assumptions used in the valuations.

For the purpose of fair value disclosures, the Company has determined classes of financial assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

NOTE 43: FINANCIAL RISK MANAGEMENT - OBJECTIVES AND POLICIES

The Company is exposed to market risk, credit risk and liquidity risk. Risk management is carried out by the Company under policies approved
by the board of directors. This Risk management plan defines how risks associated with the Company will be identified, analyzed, and
managed. It outlines how risk management activities will be performed, recorded, and monitored by the Company. The basic objective
of risk management plan is to implement an integrated risk management approach to ensure all significant areas of risks are identified,
understood and effectively managed, to promote a shared vision of risk management and encourage discussion on risks at all levels of the
organization to provide a clear understanding of risk/benefit trade-offs, to deploy appropriate risk management methodologies and tools for
use in identifying, assessing, managing and reporting on risks, and to determine the appropriate balance between cost and control of risk
and deploy appropriate resources to manage/optimize key risks. Activities are developed to provide feedback to management and other
interested parties (e.g. Audit committee, Board etc.). The results of these activities ensure that risk management plan is effective in the long
term.

43.1 Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices.
Market prices comprise of three types of risk: foreign currency rate risk, interest rate risk and other price risks, such as equity price risk
and commodity risk.

The sensitivity analysis is given relate to the position as at 31^st March, 2025 and 31^st March, 2024.

The sensitivity analysis excludes the impact of movements in market variables on the carrying value of post-employment benefit obligations,
provisions and on the non-financial assets and liabilities. The sensitivity of the relevant statement of profit and loss item is the effect of
the assumed changes in the respective market risks. The Company's activities expose it to a variety of financial risks, including the effects
of changes in foreign currency exchange rates and interest rates. This is based on the financial assets and financial liabilities held as at
31^st March, 2025 and as at 31^st March, 2024.

(a) Foreign exchange risk and sensitivity

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's
operating activities. The Company transacts business primarily in USD, EURO,CNY, RMB. The Company has foreign currency trade and
other payables, trade receivables and other current financial assets and is therefore, exposed to foreign exchange risk. The Company
regularly reviews and evaluates exchange rate exposure arising from foreign currency transactions.

43.2 Credit risk

Credit risk is the risk that a counter party 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 financing
activities, including deposits with banks and loan to subsidiary and other financial instruments.

The Company considers the probability of default upon initial recognition of asset and also considers whether there has been a
significant increase in credit risk on an ongoing basis through each reporting period. To assess whether there is a significant increase
in credit risk, the Company compares the risk of default occurring on asset as at the reporting date with the risk of default as at the date
of initial recognition. It considers reasonable and supportive forwarding-looking information such as:

i) Actual or expected significant adverse changes in business,

ii) Actual or expected significant changes in the operating results of the counterparty,

iii) Financial or economic conditions that are expected to cause a significant change to the counterparty's ability to meet its
obligations,

iv) Significant increase in credit risk on other financial instruments of the same counterparty,

v) Significant changes in the value of the collateral supporting the obligation or in the quality of the third-party guarantees or credit
enhancements.

Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment
plan with the Company. Where loans or receivables have been written off, the Company continues to engage in enforcement activity to
attempt to recover the receivable due. Where recoveries are made, these are recognized as income in the statement of profit and loss.
The Company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business
environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends. Based on the historical
data, loss on collection of receivable is not material hence no additional provision is required to be made.

a) Trade Receivables:

The Company extends credit to customers in normal course of business. The Company considers factors such as credit track
record in the market and past dealings with the Company for extension of credit to customers. The Company monitors the
payment track record of the customers. Outstanding customer receivables are regularly monitored. The Company evaluates the
concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries
are operate in largely independent markets. The Company has also taken security deposits in certain cases from its customers,
which mitigate the credit risk to some extent. Further, the Company has policy of provision for doubtful debts. Revenue of
'5,188.09 lakhs (Previous year '6,175.76 lakhs) from a customer represents more than 10% of the Company revenue for the
year ended 31^st March, 2025. The Company does not expect any material risk on account of non-performance by Company's
counterparties.

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

The following table summarizes the Gross carrying amount of the trade receivable and provision made.

b) Financial instruments and cash deposits:

The Company considers factors such as track record, size of the institution, market reputation and service standards to select the
banks with which balances are maintained. Credit risk from balances with bank is managed by the Company's finance department.
Investment of surplus funds are also managed by finance department. The Company does not maintain significant cash in hand.
Excess balance of cash other than those required for its day to day operations is deposited into the bank.

For other financial instruments, the finance department assesses and manage credit risk based on internal assessment. Internal
assessment is performed for each class of financial instrument with different characteristics.

43.3 Liquidity risk.

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without
incurring unacceptable losses. The Company's objective is to, at all times, maintain optimum levels of liquidity to meet its cash and
collateral requirements. The Company relies operating cash flows, short term borrowings in the form of working capital loan to meet
its needs for funds. Company does not breach any covenants (where applicable) on any of its borrowing facilities. The Company has
access to a sufficient variety of sources of funding as per requirement. The Company has also the sanctioned limit from the banks.
The table below provides undiscounted cash flows towards financial liabilities into relevant maturity based on the remaining period at
the balance sheet to the contractual maturity date.

43.4 Competition and price risk

The Company faces competition from local and foreign competitors. Nevertheless, it believes that it has competitive advantage in
terms of high quality products and by continuously upgrading its expertise and range of products to meet the needs of its customers.

NOTE 44: IMPAIRMENT TESTING OF GOODWILL

44.1 Goodwill is tested for impairment on annual basis and whenever there is an indication that the recoverable amount of a cash generating
unit (CGU) is less than its carrying amount based on a number of factors including business plan, operating results, future cash flows
and economic conditions. The recoverable amount of cash generating units is determined based on Higher of value in use and fair value
less cost to sell. For the purpose of impairment testing, goodwill is allocated to a CGU representing the lowest level within the Company
at which Goodwill is monitored for internal management purposes, and which is not higher than the Companies operating segment.

44.2 The Company uses discounted cash flow methods to determine the recoverable amount. These discounted cash flow calculations
use five year projections that are based on financial forecasts. Cash flow projections take into account past experience and represent
management's best estimate about future developments.

44.3 Management estimates discount rates using pre-tax rates that reflect current market assessments of the risks specific to the CGU,
taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the
cash flow estimates.

NOTE 45: CAPITAL MANAGEMENT

For the purpose of Company's capital management, capital includes issued capital, other equity and debts. The primary objective of the
Company's capital management is to maximize shareholders value. The Company manages its capital structure and makes adjustments in
the light of changes in economic environment and the requirements of the financial covenants.

The Company monitors capital using gearing ratio, which is net debt divided by total capital (equity plus net debt). Net debt are non-current
and current debts as reduced by cash and cash equivalents and current investments. Equity comprises all components including other
comprehensive income.

NOTE 50: OTHER STATUTORY INFORMATIONS:

i) There is no balance outstanding on account of any transaction with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956.

ii) The Company does not have more than two layers of subsidiary as prescribed under Section 2 (87) of the Companies Act, 2013 read
with Companies (Restriction on number of layers) Rules, 2017.

iii) The Company has not advanced or loaned or invested fund to any other persons or entities including foreign entities (intermediary) with
the understanding (whether recorded in writing or otherwise) that 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 beneficiary) or

b) provided any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

iv) The Company has not received any fund from any person or entities including foreign entities (funding party) with the understanding
(whether recorded in writing or otherwise) that the Company shall:

a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding
party (ultimate beneficiaries) or

b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

v) The Company does not have any such 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.

vi) The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

vii) There are no charges or satisfaction thereof which are yet to be registered with ROC beyond the statutory period.

NOTE 51: DISCLOSURE ON COMPOSITE SCHEME OF ARRANGEMENT AND ACCOUNTING AS PER IND AS 103

51.1 During the previous year, the Composite Scheme of Arrangement of amongst Borosil Limited ("BL"), the Company, a subsidiary of BL and
Borosil Technologies Ltd ("BTL") ("Transferor Company"), a wholly owned subsidiary of BL ('Scheme of Arrangement') was approved
by National Company Law Tribunal, Mumbai Bench (NCLT) (the appropriate authority) vide its order pronounced on 2^nd November,
2023, which inter alia provides for: (a) reduction and reorganization of share capital of the Company; (b) demerger of Scientific and
Industrial Product Business ("Demerged Undertaking") from BL into the Company and consequent issue of shares by the Company;
and (c) amalgamation of BTL with the Company and (d) renaming of Klass Pack Limited to Borosil Scientific Limited (hereinafter as
"BSL" or "the Company"). The Appointed Date for the Scheme was 1^st April 2022. The Scheme of Arrangement became effective from
2^nd December, 2023.

51.2 Pursuant to the Scheme of Arrangement,

i) face value of the equity share of the Company was reduced from '100 each to '10 each such that issued, subscribed and paid
up equity share capital of the Company was reduced from '1,632.94 lakhs divided into 16,32,949 equity share of '100 each to
'163.29 lakhs divided into 16,32,949 equity shares of '10 each fully paid up.

ii) every 1 equity share of the Company of face value of '10 each was further split into 10 equity shares of '1 each, such that the

issued, subscribed and paid up equity share capital of the Company shall be '163.29 lakhs divided into 1,63,29,490 equity shares

of '1/- each fully paid up.

iii) 1,34,69,670 equity shares of '1/- each of the Company held by Borosil Limited stood cancelled, accordingly Borosil Limited

ceased to be holding Company. Further, 95,84,043 equity shares of '10/- each of Borosil Technologies Limited held by Borosil

Limited stood cancelled.

iv) the Company had allotted 3 equity shares of '1/- each fully paid up for every 4 equity shares of '1/- each fully paid up held by
the shareholders of Borosil Limited as on record date for this purpose. Accordingly, 8,59,36,572 Equity Shares of '1 each of the
Company was issued to the shareholders of Borosil Limited.

NOTE 52: ACQUISITION OF GOEL SCIENTIFIC GLASS WORKS LIMITED

With effect from 27^th April 2023, Goel Scientific Glass Works Limited ("Goel Scientific") had become a subsidiary of the Company. During the
previous year, the Company acquired 34,89,400 equity shares of '10/- each of Goel Scientific from its shareholders. Further, the Company
had subscribed to 1,81,21,480 equity shares of '10/- each in the Right issue of Goel Scientific. As on March 31, 2025, the Company is
holding 2,16,10,880 equity shares of '10/- each aggregating to 99.03% of the paid-up capital of Goel Scientific.

NOTE 53: During the previous year,the Company had opted for the concessional tax regime under Section 115BAA of the Income-tax Act,
1961, as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the tax provision for the previous year was computed
based on the tax rates prescribed under this section. Additionally, deferred tax assets and liabilities was remeasured in accordance with the
revised rates. The resulting impact of this change has been accounted for as a tax expense for the financial year ended 31^st March 2024.

NOTE 54: The Company had introduced a Voluntary Retirement Scheme (VRS) for the eligible workers at its plant situated at Village Ambad,
Nashik, Maharashtra. Subsequent to the financial year ended 31^st March, 2025, the Company entered into a Memorandum of Settlement, with
the Bhartiya Kamgar Sena(BKS), outlining the terms of final settlement under VRS. BKS is a trade union registered under Trade Union's Act,
1926, representing the said eligible workers. The financial impact of the VRS will be recognized in the books of account once the liability is
fully crystallized.

NOTE 55: The Management and authorities have the power to amend the Financial Statements in accordance with Section 130 and 131 of
the Companies Act, 2013.

As per our Report of even date For and on behalf of Board of Directors

For Chaturvedi & Shah LLP

Chartered Accountants

(Firm Registration No. 101720W/W100355)

Shreevar Kheruka Vinayak Patankar

Director Whole-time Director & CEO

Anuj Bhatia (DIN 01802416) (DIN 07534225)

Partner

Membership No. 122179 Somnath Billur Sanjay Gupta

Chief Financial Officer Company Secretary

(Membership No. ACS - A24641)

Date: 21^st May, 2025