(i) The above balances comprises immature bearer plant in progress of Rs.1,629.96 lakhs (31 March 2025: Rs.1,342.46 lakhs) the maturity period for which is 3 years from the year of plantation/commencement of nurturing.

(ii) There are no projects whose completion is overdue or has exceeded its cost compared to its original plan during the year. There are no projects which has been temporarily suspended during the year.

(iii) During the year the Company has capitalised interest amounting to Rs. 87.91 lakhs (31 March 2025: Rs. 46.59 lakhs) and other borrowing cost. (Refer note 27)

Estimation of fair value

The Company’s investment property consists of Land at Alibag. The fair Valuation of the said property as stated in the above table is based on valuation conducted by a Government registered Valuer & Chartered Engineer, an accredited independent valuer and they are not a registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017. The Company has no restrictions on the realisability of its investment property and no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance and enhancements. Fair value hierarchy disclosures for investment property has been provided in note 36. There are no restrictions over the title of Company’s investment property, nor any investment property is pledged as security. The Company has not incurred any expenditure or generated any income on its investment properties. The fair value of the property has been arrived by using market rate approach.

* Includes deemed equity investments aggregating to Rs. 12.05 lakhs (31 March 2025: Rs. 12.05 lakhs) for Financial guarantee provided in the year 2024-25.

i. During the current year, the Company has reassessed presentation of Interest receivable on Investment in Optionally Convertible Debentures, which were previously presented under "Other Financial Assets" within non-current assets. In the current year, the Company has presented such balances amounting to Rs. 331.12 lakhs (March 31, 2025: Rs. 104.97 lakhs) under Investments within 'non current Assets', which the Company believes will result in improved presentation and better reflects the nature of these receivables. Both line items form part of the main heading " Non-current Financial Assets". The above does not have any material impact on the standalone financial statements.

ii. The Company has invested in the Optionally Convertible Debentures (''OCDs'') of its wholly owned subsidiary Dhunseri Petrochem and Tea Pte. Limited ("DPTPL"). The interest is fixed at 7.50% which is repayable with the redemption i.e. on the expiry of the tenure of 7 years from the date of allotment of each tranche or on the date of conversion (as the case may be). OCDs may be converted into equity shares at a conversion price to be determined on an arm's length basis as on the date of conversion taking into consideration the valuation as per accepted pricing methodology for valuation. The details of subscription of the OCDs are given below:

Terms and rights attached to equity shares

The Company has one class of equity share having a par value of Rs 10/- each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend. In the event of liquidation the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(ii) Details of shareholders holding more than 5% of Issued, Subscribed and Paid-up share

(iv) In the previous year Naga Dhunseri Group Limited had acquired 48,09,595 equity shares of the Company held by Dhunseri Investments Limited on 10th March 2025. The Company had become a subsidiary of Naga Dhunseri company Limited as a result of the above mentioned transaction. This was an inter-se transfer between the promoter companies and there is no other change in overall promoter holding during the year March 31, 2026 and March 31,2025.

(v) There is no change in number of shares in current year and previous year

(vi) Promoter here means promoter as defined in the Companies Act, 2013.

(vii) There are no equity shares issued as bonus and for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date.

Nature and purpose of reserves

(i) General reserve

Under the erstwhile Indian Companies Act, 1956, a general reserve was created through an annual transfer of net profit at a specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act, 2013, the requirement to mandatory transfer a specified percentage of the net profit to general reserve has been withdrawn though the Company may transfer such percentage of its profits for the financial year as it may consider appropriate. Declaration of dividend out of such reserve shall not be made except in accordance with rules prescribed in this behalf under the Act.

(ii) Fair value through other comprehensive income (FVOCI)- equity instruments

The Company has elected to recognise changes in the fair value of certain investments in equity instruments through other comprehensive income. These changes are accumulated within the FVOCI equity instruments reserve. The Company transfers amounts from this reserve to retained earnings when the relevant equity instruments are derecognised. Also refer note 4.

(iii) Retained earning

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

(a) Repayment terms and nature of securities given for Term/Demand loans from banks are as follows:

(i) Auto Loan from a bank Nature of Security

Auto loans from bank are secured by hypothecation of respective vehicles.

Repayment and other terms

(i) Auto loan from Bank is repayable in 60 instalments of Rs. 0.55 lakhs (31 March 2025: Rs. 0.55 lakhs) each starting from January 7, 2022 and interest rate of 7% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 4.78 lakhs (31 March 2025: 10.77 lakhs) (Maturity Date:07-12-2026)

(ii) Auto loan from Bank is repayable in 39 instalments of Rs. 0.77 lakhs (31 March 2025: Rs. 0.77 lakhs) each starting from October 5, 2024 and interest rate of 8.95% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 14.93 lakhs (31 March 2025: 22.47 lakhs) (Maturity Date:05-12-2027)

(ii) Agri Infra Fund Term Loan (AIFTL)

Nature of Security

Secured by first charge by way of hypothecation over the entire current assets of the Company ranking pari passu with other cosortium Banks as primary security. Secured by a first hypothecation charge on the immovable properties and movable fixed assets of the Company ranking pari passu with other cosortium banks as collateral security.

Repayment and other terms

(i) AIFTL Agri Infra term loan from Bank is repayable in 60 instalments of Rs. 2.39 lakhs (31 March 2025: Rs. 2.47 lakhs) each starting from October 25, 2025 and interest rate of 7.75% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 109.33 lakhs (31 March 2025: 119.19 lakhs) (Maturity Date:25-09-2030)

(ii) AIFTL Agri Infra term loan from Bank is repayable in 60 instalments of Rs. 3.71 lakhs (31 March 2025: Rs. 3.71 lakhs) each starting from November 10, 2025 and interest rate of 7.75% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 166.06 lakhs (31 March 2025: Rs. 178.65 lakhs) (Maturity Date:10-08-2030)

(iii) AIFTL Agri Infra term loan from Bank is repayable in 60 instalments of Rs. 4.15 lakhs (31 March 2025: Rs. 4.15 lakhs) each starting from December 10, 2025 and interest rate of 7.75% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 188.47 lakhs (31 March 2025: Rs. 200.00 lakhs) (Maturity Date:10-09-2030)

(iv) AIFTL Agri Infra term loan from Bank is repayable in 60 instalments of Rs. 4.15 lakhs (31 March 2025: Rs. 4.15 lakhs) each starting from December 25, 2025 and interest rate of 7.75% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 188.70 lakhs (31 March 2025: 200.00 lakhs) (Maturity Date:25-09-2030)

(v) AIFTL Agri Infra term loan from Bank is repayable in 60 instalments of Rs. 2.47 lakhs (31 March 2025: Rs. 2.54 lakhs) each starting from January 15, 2026 and interest rate of 7.75% p.a. is payable on a monthly basis. The outstanding balance as at year end is Rs. 117.30 lakhs (31 March 2025: Rs. 122.50 lakhs) (Maturity Date:15-12-2030)

(vi) The instalment amounts mentioned above also includes interest.

(b) Repayment and other terms and nature of securities given for short term borrowings

(i) Loans repayable on demand from Banks are secured by a first hypothecation charge on the current assets of the Company, viz. stock of raw materials, finished goods, stores and spares not relating to plant and machinery, bills receivable, book debts and all other movables, both present and future, wherever situated, as applicable. Secured by a first hypothecation charge on the movable fixed assets of the Company and equitable mortgage over the immovable properties by deposit of title deeds of tea estates.

Rate of Interest

Loan from Bank is availed as per the requirements of the Company at interest rates mutually agreed at the time of drawing the facility with interest rates varying from 7.45% to 9.10% (31 March 2025: 7.98% to 9.50%)

(ii) Unsecured loan from related parties will be due within 1 year and carries interest @8% p.a.

(c) The Company has not defaulted on repayment of any borrowings and interest therof.

(d) The Company has been sanctioned working capital limits in excess of Rs. five crores in aggregate from banks during the year on the basis of security of current assets of the Company. The revised quarterly returns/statements filed by the Company with such banks are in agreement with the unaudited/audited books of accounts of the Company. The Company does not have any sanctioned working capital limits from financial institutions.

(e) Refer note 37 for information about liquidity risk and market risk on borrowing

(f) The term loans have been utilised for the purpose it was taken. The Company has complied with the covenants, as applicable.

During the year, the Company recognised an amount of Rs. 269.21 lakhs (2024-25: Rs. 108.70 lakhs ) as remuneration to key managerial personnel, Refer note 39 for details.

(i) Leave Obligations

(a) Short term Employee Benefits:

The undiscounted amount of Short-term Employee Benefits expected to be paid in exchange for the services rendered by employees is recognised during the period when the employee renders the service.

(b) Compensated Absences/ Leave Liability

Compensated absences/Leave Liability cover the Company's liability for sick and earned leave. As the Company does not have an unconditional right to defer the payment beyond 12 months the entire amount has been treated as current.

(ii) Defined contribution plan

Provident Fund: The Company contributes 12% of the basic salary of employees towards Provident Fund Scheme to the relevant provident fund authorities (Regional Provident Fund Commissioner/ Assam Tea Plantation Provident Fund account).

The Company contributed Rs. 1,849.59 lakhs and Rs. 2,010.43 lakhs during the year ended 31 March 2026 and 31 March 2025 respectively.

Superannuation Fund: The Company provides for Superannuation benefit to certain employees wherein 15% of basic salary is funded with Life Insurance Corporation of India.

The Company contributed Rs. 9.90 lakhs and Rs. 2.59 lakhs during the year ended 31 March 2026 and 31 March 2025 respectively. Others: Others consist of company and employee's contribution to:

Employees Pension Scheme [Total amount charged to the statement of Profit and Loss for the year Rs. 9.62 lakhs (2024-25 Rs.10.33 lakhs)]

Employees State Insurance [Total amount charged to the statement of Profit and Loss for the year Rs. 0.56 lakhs (2024-24 Rs. 0.58 lakhs)]

(iii) Post Employment Benefits Plans

The Company provides for gratuity, a defined benefit retirement plan covering eligible employees. As per the scheme, the Gratuity Trust Fund make payment to vested employees at retirement, death/disability, withdrawal of an amount based on the respective employee's eligible salary for specified number of days depending upon the tenure of service subject to a maximum of Rs 20 lakhs. Vesting occurs upon completion of five years of service. Liability with regard to the aforesaid gratuity plan is determined by actuarial valuation based upon which the Company makes annual contributions for Gratuity to the Trust Fund.

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. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

(viii) Risk exposure

Through its defined benefit plans the Company is exposed to a number of risks, the most significant of which are detailed below:

Investment risk:

If plan is funded, then assets liabilities mismatch & actual investment return on assets lower than the discount rate assumed at the last valuation date can impact the liability.

Interest risk:

A decrease in the interest rate on plan assets will increase the plan liability.

Life expectancy:

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 at the end of the employment. An increase in the life expectancy of the plan participants will increase the plan liability.

Salary growth risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. An increase in the salary of the plan participants will increase the plan liability.

(ix) Defined benefit liability and employer contributions

Expected contributions to post-employment benefits plans as on 31 March 2026 is Rs. 3,084.65 lakhs (31 March 2025 : Rs 2,950.46 lakhs).

(x) The Government of India has consolidated existing 29 labour legislations into a unified framework comprising four labour codes viz the Code on Wages,2019, the Code on Social Security,2020, the Industrial Relations Code, 2020, and the Occupational Safety, Health and Working Conditions Code,2020 (Collectively referred to as the “Codes”). The Codes have been made effective from November 21, 2025.

The impact of these changes on employee benefit obligations , assessed by the company on the basis of information available, amounting to Rs 45.72 lakhs has been recognised as expense within Employee Benefits Expense in the Statement of Profit and Loss for the year ended March 31, 2026. The Company continues to monitor the finalisation of rules by the Central and State Government and clarifications from the Government on other aspects of the labour code, and will recognize necessary impact, if any, based on further development.

(i) With a view to rationalise the operations and improving the profitability, the Company has sold specified assets of BalijanTea Estate and Deohall Tea Estate for a consideration of Rs. 3,500 Lakhs and Rs. 2,350 Lakhs respectively. The profit on such sale amounting to Rs. 434.62 lakhs and Rs. 204.80 Lakhs respectively has been disclosed as “Exceptional Items” in the current year. Exceptional items in the previous year represents profit on sale of specified assets of Dilli Tea Estate amounting to Rs. 1,154.82 lakhs and profit on sale of specified leased assets of Jaipur Packet Factory amounting to Rs. 1,574.00 lakhs. Also refer note 39.

b) The Company has ongoing commitment to extend financial support to its subsidiary Dhunseri Petrochem and Tea Pte Limited, Singapore and its step down subsidiaries Makandi Tea & Coffee Estates Ltd. and Kawalazi Estate Company Ltd., Malawi. The future cash flow in respect of the above cannot be ascertained at this stage.

Note 35: Capital management (a) Risk management

The company’s objectives when managing capital are to:

(a) safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

(b) maintain an optimal capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.

The Company’s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors and market confidence and to sustain future development and growth of its business. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

The capital structure of the Company consists of debt, cash and cash equivalents and equity attributable to equity shareholders of the Company which comprises issued share capital and accumulated reserves disclosed in the Statement of Changes in Equity.

Consistent with others in the industry, the Company monitors capital on the basis of net debt to equity ratio and maturity profile of overall debt portfolio of the Company.

Net Debt implies borrowings including interest accrued on borrowings of the Company as reduced by Cash and Cash Equivalents and Equity comprises all components attributable to the owners of the Company.

This section gives an overview of the significance of financial instruments for the Company and provides additional information on balance sheet item that contain financial instrument.

The detail of material accounting policies,including the criteria for recognition ,the basis of measurement and the basis on which income and expenses are recognised in repsect of each class of financial asset, financial liability and equity instruments are disclosed in note 2 to the standalone financial statements.

The above analysis of financial instruments that are measured at fair value, grouped into Level 1 to Level 3, has been described as below:

Quoted prices in an active market (Level 1): This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of investment in quoted equity shares. The fair value for all equity shares which are traded in the stock exchanges is valued using the closing price as at the reporting period.

Valuation techniques with observable inputs (Level 2): The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. Biological asset other than bearer plants, are measured at fair value less cost to sell.

Valuation techniques with significant unobservable inputs (Level 3): This level of hierarchy includes financial assets and financial liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This level of hierarchy includes Company’s investment in equity shares which are unquoted or for which quoted prices are not available at the reporting dates.

(ii) Transfers between level 1, level 2 and level 3

There is no transfer during the year between level 1, level 2 and level 3 with reference to financial instruments and biological assets other than bearer plants (Refer note 4).

(iii) Valuation technique used to determine fair value

Specific valuation technique used to determine fair value includes:

(a) Investments carried at fair value are generally based on market price quotations. However in cases where quoted prices are not available, fair value is determined considering the discounted cash flow analysis, nature, risk profile and other qualitative factos. The carrying amounts are reasonable approximation of the fair value. Fair value of biological assets other than bearer plant are arrived at based on observable market price of green leaves.

(b) The carrying amounts of other financial assets and liabilities carried at amortised cost closely approximate their fair values. The impact of discounting on such financial assets or liabilities is not significant due to the market terms (rates and tenor) available and because the instruments are short term in nature or do not have any fixed contractual maturities.

(c) Management uses its best judgement in estimating the fair value of its financial instruments. However, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented above are not necessarily indicative of the amounts that the Company could have realised or paid in sale transactions as of respective dates. As such, fair value of financial instruments subsequent to the reporting dates may be different from the amounts reported at each reporting date.

(iv) Equity Instruments carried at fair value through other comprehensive income

These investments in equity shares are not held for trading. Instead, they are held for long term purpose. The Company has chosen to designate these investments in equity instruments at FVOCI since, it provides a more meaningful presentation.

Note 37: Financial risk management

In the course of its business, the Company is exposed primarily to fluctuations in interest rates, equity prices, liquidity and credit risk, which may adversely impact the fair value of its financial instruments. In order to minimise any adverse effects on the financial performance of the Company, the company has risk management policies as described below

(A) Credit risk

Credit risk is the risk that 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) including deposits with banks and financial institutions and other financial instruments carried at amortised cost and financial guarantees.

Financial instruments that are subject to credit risk and concentration thereof principally consist of trade receivables, loans receivables, investments, other financial assets and cash and cash equivalents held by the Company. None of the financial instruments of the Company result in material concentration of credit risk.

The carrying value of financial assets represents the maximum credit risk. The maximum exposure to credit risk was Rs. 19,693.37 lakhs and Rs. 15,311.31 lakhs, as at 31 March 2026 and 31 March 2025 respectively, being the total carrying value of financial assets excluding cash on hand. i) Trade and other receivables

Credit risk on receivables (excluding disputed trade receivables disclosed in note 5) is minimum since sales through different mode (eg. auction, consignment, private) are made after judging credit worthiness of the customers or advance payment. The history of defaults has been minimal and outstanding receivables are regularly monitored.

ii) Financial instruments and bank deposits

For credit risk on the loans to employees, the Company does not expect any material risk on account of non-performance by any of the parties. Credit risk from balances with banks and financial institutions is managed by the Company’s treasury department in accordance with the Company’s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty’s potential failure to make payments.

(B) Liquidity risk

Liquidity risk refers to the risk that the Company may encounter difficulty in meeting its financial obligations in accordance with terms of contract. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. Management monitors rolling forecasts of the company's liquidity position (including the undrawn credit facilities extended by banks and financial institutions) and cash and cash equivalents on the basis of expected cash flows. In addition, the Company's liquidity management policy involves projecting cash flows and considering the level of liquid assets necessary to meet these, monitoring balance sheet liquidity ratios against internal and external regulatory requirements and maintaining debt financing plans.

Maturities of financial liabilities

The tables below analyses the Company's financial liabilities into relevant maturity groupings based on their contractual maturities for all financial liabilities.

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.

(C) Market risk

(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 rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates.

The Company’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Company to cash flow interest rate risk. During 31 March, 2026 and 31 March, 2025, the Company’s borrowings at variable rate were denominated in Rupees.

The Company’s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates. (a) Interest rate risk exposure

(ii) Price risk

(a) Exposure

The Company’s exposure to equity securities & mutual funds price risk arises from investments held by the Company and classified in the balance sheet at fair value through Other Comprehensive Income or at Fair Value through Profit & Loss Account. To manage its price risk arising from investments in equity securities & mutual funds, the Company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the Company. In general, these investments are not held for trading purposes.

(b) Sensitivity

The company does not hold any quoted investments as on 31st March 2026 and 31st March 2025.

(iii) Foreign currency risk

The company deals with foreign currency investments in its wholly owned subsidiaries and is therefore exposed to foreign exchange risk associated with exchange rate movement.

The management regularly monitors the currency movement to manage its currency risk.

(D) Agricultural Risk

Cultivation of tea being an agricultural activity, there are certain specific financial risks. These financial risks arise mainly due to adverse weather conditions, logistic problems inherent to remote areas, and fluctuation of selling price of finished goods (tea) due to changes in supply/availability.

The Company manages the above financial risks in the following manner:

• Sufficient inventory levels of agro chemicals, fertilizers and other inputs are maintained so that timely corrective action can be taken in case of adverse weather conditions.

• Sufficient level of consumable stores viz packing materials, coal and HSD are maintained in order to mitigate financial risk arising from logistics problems.

• Sufficient working-capital-facility is obtained from banks in such a way that cultivation, manufacture and sale of tea is not adversely affected even in times of adverse conditions.

Other Terms and Conditions of transactions with Related Parties

Transactions related to dividend were on the same terms and conditions that applied to other shareholders. The other transactions are made in the ordinary course of business. Outstanding balances at the year end are unsecured. No provision are held against receivable from related parties. All the transactions mentioned above are inclusive of GST, where applicable. The transactions with related parties are entered in arms length basis. Managerial remuneration is paid in compliance with section 197 of the Companies Act 2013. The Company has not entered in any non-cash transaction with any related party.

Note 40: Fair value of biological assets and agricultural produce

The carrying amount of the biological assets other than bearer plants as per note 11 of these Standalone Financial Statements amounts to Rs. 135.03 lakhs (31 March 2025 Rs. 160.50 lakhs)

The carrying amount of the Finished Goods (Inventories) as per Note 10 of these Standalone Financial Statements amounts to Rs. 542.12 lakhs (31 March 2025 Rs. 1,285.43 lakhs). The same comprise of Tea made out of tea leaves harvested from own gardens (“agricultural produce”) amounting to Rs. 542.12 lakhs (31 March 2025 Rs. 1,246.64 lakhs) and Tea purchased amounting to Nil (31 March 2025 Rs. 38.79 lakhs).

The biological assets (“Tea leaves growing on tea bushes”) and agricultural produce used in the production of finished goods of tea used in such inventory are stated at fair value less costs to sell. Such inventory of Tea is carried at the lower of cost and net realizable value. The same is applying the principles of Ind AS 41 and Ind AS 2.

The valuation of biological assets and agricultural produce used in the production of finished goods (Tea) involves judgements in the consideration of factors used in the determination of fair value of such agricultural produce. The Company considers various factors such as comparing the actual selling prices prevailing around year end for completed seasonal cycle, including technical factors which determine the quality and hence the fair value of biological assets and agricultural produce. The said practice is consistently followed by the Company.

Note 41: Leases

The Company’s lease contract which qualifies as leases under Ind AS 116, are majorly in respect of leases for Buildings, Plant & equipments and Furniture & fixtures. The movement in right of use assets and lease liability during the year is given below:-

(i) The Company does not have any transactions with companies struck off.

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

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

(iv) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall 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.

(v) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the Intermediary shall, whether directly or indirectly lend or invest in other persons/entities identified in any other manner whatsoever by or on behalf of the Company Cultimate beneficiaries') or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries . However, the Company has invested Rs. 3,357.95 lakhs during the year (PY Rs. 1,283.97 lakhs) to Dhunseri Petrochem Tea & Pte Limited, a wholly owned subsidiary in the ordinary course of business and in keeping with the applicable regulatory requirements for onward funding to a overseas step-down wholly owned subsidiary of the Company towards meeting their business requirements. Accordingly, no further disclosures, in this matter is required.

(vi) The Company has complied with the relevant provision of Foreign Exchange Management Act, 1999 (42 of 1999) and the Companies Act 2013, for the above transaction and the transactions are not violative of the prevention of Money-laundering Act, 2002(15 of 2003)

(vii) At present, the Company does not have server physically located in India for the daily backup of the books of account and other books and papers maintained in electronic mode. Pursuant to implementation of new ERP in the previous year, the Company is in the process of establishing necessary controls and documentations regarding back up to ensure that logs of daily back up for books of account is maintained on a daily basis on the server located in India for all its locations.

(viii) The Company has used accounting software Microsoft Dynamics 365 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 software, except that audit trail feature is not enabled at the database level insofar as it relates to the above accounting software due to technical reasons. Further no instance of audit trail feature being tampered with was noted in respect of accounting software where the audit trail has been enabled. Additionally, the audit trail of prior years has been preserved by the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective years.

(ix) The Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year.

(x) There are no proceedings initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

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

(xii) The Company has no Core Investment Company (CIC) as part of the Group, which are registered with Reserve Bank of India.