O. Provisions, Contingent Liabilities and Contingent Assets
(i) Provisions
Provisions are recognised when the Company has a present legal or constructive obligation
as a result of past events; it is probable that an outflow of resources will be required to
settle the obligation; and the amount has been reliably estimated.
I f the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When
discounting is used, the increase in the provision due to the passage of time is recognised
as a finance cost.
(ii) Contingent Liabilities
Contingent liabilities are disclosed, unless the possibility of outflow of resources is remote,
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 the obligation or reliable estimate of
the amount cannot be made.
(iii) Contingent Assets
A contingent asset is disclosed, where an inflow of economic benefits is probable. However,
when the realisation of income is virtually certain, then the related asset is not a contingent
asset and is recognized.
P. Segment Reporting
An operating segment is a component of the Company that engages in business activities from
which it may earn revenues and incur expenses, including revenues and expenses that relate
to transactions with any of the Company's other components, and for which discrete financial
information is available. All operating segments' operating results are reviewed regularly by
the chief operating decision maker to make decisions about resources to be allocated to the
segments and assess their performance.
Q. Earnings Per Share
Basic earnings per share are computed by dividing the profit or loss for the year attributable
to equity shareholders of the Company by the weighted average number of equity shares
outstanding during the year
The weighted average number of equity shares outstanding during the year and for all years
presented is adjusted for events, other than the conversion of potential equity shares that
have changed the number of equity shares outstanding, without a corresponding change in
resources.
For the purpose of calculating diluted earnings per share, the profit or loss for the year
attributable to equity shareholders of the Company and the weighted average number of shares
outstanding during the year is adjusted for the effects of all dilutive potential equity shares.
R. Leases
As a lessee:
At inception of a contract, the Company assesses whether a contract is, or contains, a lease.
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. The Company recognises a
right-of-use asset and a lease liability at the lease commencement date except for leases with
a term of twelve months or less (short-term leases) and low value leases. For these short-term
and low value leases, the lease payments associated with these leases are recognised as an
expense on a straight-line basis over the lease term. Lease term is a non-cancellable period
together with periods covered by an option to extend the lease if the Company is reasonably
certain to exercise that option; and periods covered by an option to terminate the lease if the
Company is reasonably certain not to exercise that option.
The right-of-use asset is initially measured at cost at the commencement date. At the
commencement date, the lease liability is measured at the present value of the lease payments
that are not paid at that date. The lease payments are discounted using the interest rate implicit
in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing
rate by obtaining interest rates from various external financing sources and making certain
adjustments to reflect the terms of the lease. The Company uses its incremental borrowing rate
as the discount rate.
After the commencement date, the right-of-use asset is measured at cost less any accumulated
depreciation and any accumulated impairment losses, and the lease liability is measured by
(i) increasing the carrying amount to reflect interest on the lease liability; (ii) reducing the
carrying amount to reflect the lease payments made; and (iii) remeasuring the carrying amount
to reflect any reassessment or lease modifications, or to reflect revised in-substance fixed lease
payments. Right-of-use assets are depreciated over the shorter period of lease term and useful
life of the right-of-use asset.
Interest on the lease liability in each period during the lease term is the amount that produces a
constant periodic rate of interest on the remaining balance of the lease liability. Interest expense
on the lease liability is a component of finance costs. Gain / Loss relating to modification of
lease not accounted for as separate lease are recognised in the Statement of Profit and Loss.
S. Dividends
Provision is made for the amount of any dividend declared, being appropriately authorised and
no longer at the discretion of the entity on or before the end of the reporting period but not
distributed at the end of the reporting period.
T. Contributed equity
Equity shares are classified as equity
Incremental costs directly attributable to the issue of new shares or options are shown in equity
as a deduction, from the proceeds.
U. Rounding of amounts
All amounts disclosed in the financial statements and notes have been rounded off to the
nearest million with one decimal thereof as per the requirement of Schedule III, unless otherwise
stated.
V. Exceptional items
When items of income or expense are of such nature, size or incidence that their disclosure
is necessary to explain the performance of the Company for the year, the company makes a
disclosure of the nature and amount of such items separately under the head “Exceptional
items”. Exceptional items are of non-recurring in nature.
W. Critical Accounting Estimates and Judgements
Preparing the financial statements under Ind AS requires management to take decisions and
make estimates and assumptions that may impact the value of revenues, costs, assets and
liabilities and the related disclosures concerning the items involved as well as contingent assets
and liabilities at the balance sheet date. Estimates are continually evaluated and are based on
historical experience and other factors, including expectations of future events that are believed
to be reasonable under the circumstances.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period of the revision and future periods if the revision affects
both current and future periods.
The following are the areas involving critical estimates as at the end of the reporting period that
may have a significant risk of causing a material adjustment to the carrying amount of assets
and liabilities within the next financial year:
Estimation of Defined Benefit Obligation : key actuarial assumptions [Refer Note 14(a)]
Estimation of Provision and Contingent Liabilities : key assumptions about the likelihood and
magnitude of an outflow of resources; [Refer Note 24 and 25]
Estimation of Lease : discount rate used for determination of lease liability and Right-of-use
asset [Refer Note 31]
Revenue Recognition : assumptions of estimation of sale return and discounts.[Refer Note 25
and 29]
Provision for Deferred tax assets: availability of future taxable profit against which deductible
temporary differences and tax losses carried forward can be utilised; [Refer Note 4]
Recent Pronouncements
Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to time.
For the year ended March 31, 2026, MCA has notified amendments applicable w.e.f. April 1,
2025 to Ind AS 1 Presentation of Financial Statements, Ind AS 21 - The Effects of Changes in
Foreign Exchange Rates, Ind AS 7- Statement of Cash Flows, Ind AS 107-Financial Instruments
and Ind AS 12-International Tax Reform. The Company has reviewed the new pronouncements
and based on its evaluation has determined that it does not have a significant impact on its
financial statements.
Standards/amendments issued but not yet effective:
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to
time. During the year, the MCA has issued an amendment for removal of carve-out under
Ind AS 1, Presentation of financial statements relating to classification of liabilities subject
to covenants breach which is applicable with effect from 01 April 2026. The Company has
reviewed the new pronouncements and based on its evaluation has determined that it does
not have a significant impact on its financial statements. Further, there is no such notification
which would have been applicable from 01 April 2026.
(i) Defined Contribution Plans :
The Company's contribution to Superannuation Fund and Employees' Pension Scheme aggregating
' 4.0 million (Previous year - ' 4.6 million) has been recognised as expense in the Statement of profit and
loss for the year under the head Employee Benefits Expense [Refer Note 20].
(ii) Defined Benefit Plans :
General Description of Defined Benefit Plans:
(a) Gratuity
The Company provides for gratuity for employees as per the Payment of Gratuity Act, 1972. Employees
who are in continuous service of 5 years are eligible for gratuity. The benefit payable is the amount
calculated as per the Payment of Gratuity Act, 1972 or the Company scheme applicable to the
employees. The benefit vests upon completion of five years of continuous service and once vested it is
payable to employees on retirement or on termination of employment. The gratuity plan is a funded
plan and it is recognised by the Income-tax authorities and administered through trustees and/or Life
Insurance Corporation (LIC). Liability for Gratuity is provided on the basis of valuations, as at Balance
Sheet date, carried out by an independent actuary.
(b) Provident Fund
Provident fund is a Defined Benefit Plan that provides for a lump sum amount to be paid to employees
at the time of separation from the Company. Both employee and employer (at a determined rate)
contribute monthly to a Trust set up by the Company to manage the investments and distribute the
amounts entitled to employees. The benefits are accumulated value of contributions made by the
employee and the Company at the minimum interest rate as declared by the Employees' Provident
Fund Organisation for respective years. Valuation for interest rate guarantee is provided on the basis of
valuations, as at Balance Sheet date, carried out by an independent actuary.
(c) Non-Contractual Pension Plan
The Pension Scheme is a Defined Benefit Plan with a minimum pension guarantee that provides for
an annuity in the form of pension amount at retirement to a select category of employees. The fund
is administered by LIC of India. Liability for Non-Contractual Pension Plan is provided on the basis of
valuations, as at Balance Sheet date, carried out by an independent actuary.
(d) Post Retirement Medical Benefits (PRMB)
The PRMB scheme is a fixed monetary amount Defined Benefit Plan that provides for a payment made
after retirement when a retiree claims medical benefits. The benefits are defined on the basis of amount
claimed under medical expenses up to a maximum limit after retirement. This is an unfunded defined
benefit plan. Liability for Post Retirement Medical Benefits is provided on the basis of valuations, as at
Balance Sheet date, carried out by an independent actuary.
Risk exposure
Through its defined benefit obligation the Company is exposed to a number of risks, the most significant of which are
detailed below:
Interest rate risk - The defined benefit obligation calculated uses a discount rate based on Government bonds. If bond
yields fall, the defined benefit obligation will tend to increase.
Salary inflation risk - Higher than expected increase in salary will increase the defined benefit obligation.
Demographic risk - This is the risk of variability of results due to unsystematic nature of decrements that include mortality,
withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligations is not straightforward
and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate
withdrawals because in financial analysis the retirement benefit of the short career employee typically costs less per year as
compared to a long service employee.
Medical inflation risk - Higher than expected increase in premium will lead to increase in defined benefit obligations. The
risk is mitigated by capping the benefit paid by insurance Company (limiting the premium amount for the Company).
Investment return risk - Lower the expected investment return, higher will be the defined benefit obligation.
Note 1
Company has on-going disputes with income-tax authorities, whereby cases are pending before various levels of Appellate
Courts. The disputes largely relate to legacy issues pertaining to tax exemption, tax deduction, depreciation, capital
gains etc. Additionally Company also has on-going withholding tax litigation. The Company periodically receives notices/
enquiries/orders from direct tax authorities/courts and evaluates the same to determine if a provision/ contingent
liability is to be created based on whether demands are likely to sustain or not.
Note 2
This consists of State specific Litigations at various forums under Value Added Tax Act, Central Sales Tax Act and Entry
Tax Act. Under Value Added Tax Act and Entry Tax Act, issues under litigation can be broadly classified into Claim of
TDS/Tax Payment not allowed, Enhancement in Turnover, ITC/Credit Notes disallowance, Tax Free & Concessional sales
disallowance etc. Under Central Sales Tax Act, issues under litigation can be broadly classified into Enhancement in
Turnover, Exports/Tax Free goods/Concessional sales disallowed, Non-Submission of Statutory Forms etc.
Note 3
Service tax consists of litigation pending before CESTAT in respect of demand on the license fees/marketing fees.
Note 4
This consists of state specific litigations mainly due to denial of input tax credit under Goods and Service tax Act.
Note 5
The Company has filed a Writ Petition on 8th May 2014 before the Hon'ble Delhi High Court challenging the move of the
National Pharmaceuticals Pricing Authority (“NPPA”) to include Voveran 50 GE Tablets, marketed by the Company under
price control in terms of the Drug Price Control Order 2013 (“DPCO 2013”).
During the pendency of the Writ Petition, the NPPA issued a Show Cause Notice dated 24th September, 2014 to the
Company alleging overcharge on sales of Voveran 50 GE Tablets by the Company The Company responded to the show
cause notice vide its letters dated 13th October, 2014 and 27th October, 2014. The NPPA issued a Demand Notice dated
31st October, 2014 directing the Company to pay ' 281.8 million (including interest) by 15th November, 2014. This
demand has been challenged by the Company before the Hon'ble Delhi High Court by way of miscellaneous applications
followed by an amended writ petition. The Hon'ble Delhi High Court passed order restraining the NPPA from taking
coercive steps in respect of the aforesaid demand. The next tentative date of hearing is 24 September, 2026.
In the opinion of the Company Voveran 50 GE Tablet is not covered under the category of essential medicines under
the National List of Essential Medicines and, hence, is a non-scheduled drug under DPCO, 2013. Therefore, Voveran 50
GE Tablet cannot be brought under the regime of price control under Paragraph 14 of the DPCO, 2013. Accordingly no
provision is considered necessary at this stage.
Note 6
The NPPA had issued a demand notice dated 20th/25th June, 2018 of ' 134.4 million (including interest) on the Company
alleging over charge on sales of Tegrital CR 200 by the Company. This demand has been challenged by the Company
before the Hon'ble Delhi High Court by filing a Writ Petition on 27th July 2018 challenging the move of the NPPA to
include Tegrital CR 200, marketed by the Company under price control in terms of the DPCO 2013. The Hon'ble Delhi
High Court had on 6th August, 2018 passed an order directing the NPPA not to give effect to the aforesaid impugned
demand notice. This writ petition was listed on 30th March, 2022, however due to paucity of time hearing has been
adjourned to 20 August, 2026.
24. Contingent Liabilities and Commitments (contd.)
In the opinion of the Company the Price Revision Notification dated 28th April, 2014 would not apply to Tegrital CR 200 as
it was not covered by the ambit of price notification in as much Tegrital CR 200 drug was not a “scheduled formulation”
under DPCO 2013. When Tegrital CR became a scheduled formulation w.e.f. 10th March, 2016, NPPA issued a separate
Ceiling Price Notification on 29th March, 2016 for the said formulation, which amounts to admission on the part of NPPA
that this formulation could be covered only by the subsequent Notification of 2016 and not by the prior Notification of
2014, on the basis whereof the impugned Demand has been raised by NPPA. Accordingly no provision is considered
necessary at this stage.
32. Earnings Per Share
Basic earnings per share has been calculated by dividing profit for the year attributable to equity
shareholders by the weighted average number of equity shares outstanding during the year The
company has not issued any potential equity shares and accordingly the basic earnings per share
and diluted earnings per share are the same. Earnings per share has been computed as under:
33. Disclosures for Employee Share Based Payments
The Company offers its employees, share based payments in the form of a “Select” plan. The
Equity Plan “Select” is a global equity incentive plan for eligible employees. This plan allows its
participants to choose the form of their equity compensation in ‘Restricted Shares' or ‘Tradable
Options' of the ultimate holding company Novartis AG, Basel. The “Select” plan of the ultimate
holding company is being managed and administered by the group company, Novartis Holding
AG and the Company is compensating Novartis Holding Ag for the Restricted Shares or Tradable
Options acquired towards the grants made to the employees and accordingly these costs are being
reflected in the financial statements.
34. Employee Share Purchase Plan (ESPP)
In the year ending 31st March 2024 Novartis AG started to grant shares under the Employee Share
Purchase Plan (ESPP). The ESPP enables employees to voluntarily purchase Novartis Ag shares
through payroll deductions at a discounted price. The shares are not subject to a vesting period.
The total charge to the Statement of Profit and Loss on account of ESPP is Rs. 0.3 million (Previous
year - Rs. 0.2 million)
The total carrying amount as on 31 March 2026 on account of ESPP is Rs. 0.5 million (as on
31 March 2025 Rs. 0.8 million)
35. Financial Instruments
Financial Instruments - Fair values and Risk Management
A Accounting classification and fair values:
Carrying amounts and fair values of financial assets and financial liabilities, including their
levels in the fair value hierarchy, are presented below.
36. Financial risk management
The Company's activities expose it to credit risk, liquidity risk and market risk.
The Company's financial risk management is an integral part of how to plan and execute its business
strategies. Market risk is the loss of future earnings, fair values or future cash flows that may result
from the change of a price of a financial instrument. The value of a financial instrument may change
as a result of changes in the foreign currency exchange rates and other market changes that affect
market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial
instruments including foreign currency receivables and payables.
(A) Credit Risk
The Company is exposed to credit risk, which is the risk that counterparty will default on its
contractual obligation resulting in a financial loss to the Company Credit risk arises from cash
and cash equivalents, deposits with banks, as well as credit exposures to customers including
outstanding receivables.
Credit risk is the risk of financial loss to the Company if a customer or counter-party fails to meet
its contractual obligations, and arises principally from the Company's receivables from customers.
(i) Trade and other receivables
Credit risk arises from the possibility that customers may not be able to settle their
obligations as agreed. The Company manages credit risk through credit approvals,
establishing credit limits and continuously monitoring the creditworthiness of customers
to which the Company grants credit terms in the normal course of business.
At 31st March, 2026, the Company had 4 customers (At 31st March, 2025 : 2 customers)
that owed the Company more than ' 10 million each and accounted for approximately 63%
(At 31st March, 2025 : 64%) of all the trade receivables, excluding related parties. The
Company performs regular monitoring of credit limits and key performance indicators as
agreed as well as manages the collection of receivables in order to minimize the credit risk
exposure.
In furtherance to above, the Company has assessed the impact of the simplified approach
permitted by Ind AS 109 Financial Instruments, which requires expected lifetime losses to
be recognized in respect of trade receivables.
36. Financial risk management (contd.)
As per simplified approach, the Company makes provision of expected credit losses on
trade receivables using a provision matrix to compute the expected credit loss amount for
trade receivables. The provision matrix takes into account historical data of collections.
Receivables are classified into different buckets based on the overdue period ranging from
6 months - one year to more than two years. There are different provisioning rates for each
bucket.
Historical trends of impairment of trade receivables do not reflect any significant credit
losses. The Company has further considered internal and external sources of information,
specifically having regard to the current macro economic conditions and the global health
pandemic to assess the impact on credit losses. Basis the information available as at the
date of approval of these financial statements, the Company expects the historical trend
of minimal credit losses to continue.
For credit risk exposure, refer note 8 Trade Receivables.
The following table provides information about the exposure to credit risk and ECLs for
trade receivables from individual customers:
36. Financial risk management (contd.)
(B) Liquidity Risk
(i) Liquidity risk management
Prudent liquidity risk management implies maintaining sufficient cash and marketable
securities and the availability of funding to meet obligations when due. Company's treasury
maintains flexibility in funding by maintaining sufficient cash and bank balances available to
meet the working capital requirements. Bank balances are maintained with reputed banks.
Management monitors rolling forecasts of the company's liquidity position (comprising the
unused cash and bank balances along with temporary investments in fixed deposits) on the
basis of expected cash flows. This is generally carried out at Company level in accordance
with practice and limits set by the Company. These limits vary to take into account the
liquidity of the market in which the Company operates.
(ii) Maturities of financial liabilities
The tables below analyse the Company's financial liabilities into relevant maturity based on
their remaining contractual maturities for all non-derivative financial liabilities.
The amounts disclosed in the table are the contractual cash flows. Balances approximate
their carrying balances as the impact of discounting is not significant.
(iii) Maturities of financial assets
The following table details the Company's expected maturity for its non-derivative financial
assets. The table has been drawn up based on the undiscounted contractual maturities of
the financial assets including interest that will be earned on those assets. The inclusion
of information on non-derivative financial assets is necessary in order to understand the
Company's liquidity risk management as the liquidity is managed on a net asset and
liability basis.
(C) Market Risk - Foreign Exchange
The Company is exposed to foreign exchange risk arising from foreign currency transactions,
primarily with respect to the USD. These transactions are mainly with the related parties only.
Foreign exchange risk arises from future commercial transactions and recognised assets and
liabilities denominated in a currency that is not the company's functional currency ('). The risk is
measured through a forecast of highly probable foreign currency cash flows. The objective of the
Company is to minimize the volatility of the ' cash flows of highly probable forecast transactions.
The Company actively monitors and seeks to reduce, where it deems it appropriate to do so,
fluctuations in these exposures.
(i) Foreign Currency Risk Exposure:
The Company has not entered into any derivative transactions during the year
The Company's exposure to foreign currency risk at the end of the reporting period
expressed in ' (in million), is as follows:
37. Capital management
The Company's objectives when managing capital are to safeguard the company's ability to continue
as a going concern in order to provide returns for shareholders and benefits for other stakeholders
and to maintain an optimal capital structure. For the purpose of the Company's capital management,
capital includes issued equity capital and all other equity reserves attributable to the equity holders
of the Company The capital structure of the Company is based on management's judgement of
the appropriate balance of key elements in order to meet its strategic and day-to-day needs. The
Company consider the amount of capital in proportion to risk and manage the capital structure in
light of changes in economic conditions and the risk characteristics of the underlying assets. In
order to maintain or adjust the capital structure, the Company may adjust the amount of dividends
paid to shareholders. 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 Company has no borrowings as at 31st Mar,
2026 and no borrowings were availed during the previous year
39. There are no funds that have been advanced or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds) by the Company to or in any other person(s) or
entity(ies), 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 or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
40. There are no funds that have been received by the Company from any person(s) or entity(ies),
including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing
or otherwise, that the Company shall, whether, 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.
41. 9, 2026, Novartis AG has entered into the Agreement for the sale and purchase of
the Sale Shares in Novartis India Limited (“SPA”) with WaveRise Investments Limited (“Acquirer 1”),
ChrysCapital Fund X (“Acquirer 2”) and Two Infinity Partners (“Acquirer 3”) (Acquirer 1, Acquirer 2,
and Acquirer 3, collectively referred to as the “Acquirers”) pursuant to which Novartis AG has agreed
to sell to the Acquirers and the Acquirers have agreed to acquire from Novartis AG 1,74,50,680
(One Crore Seventy Four Lakhs Fifty Thousand Six Hundred and Eighty) fully paid-up equity shares
of the Company representing 70.68% (seventy point six eight percent) of the equity share capital of
the Company (“Transaction”). Consequently, the Acquirers, as contemplated under the Agreement
and subject to receipt of the required statutory approvals and compliance with the SEBI (SAST)
Regulations, will acquire control over the Company, and shall be classified as the ‘promoter' of
the Company in accordance with the provisions of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBi (LODR) Regulations”) post such acquisition.
I n accordance with Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011 (“SEBI SAST Regulations”), Acquirer has made a public announcement
for an open offer on 20 February 2026 to the public shareholders of the Company for acquisition of
equity shares.
42. Additional disclosures
i Details of benami property held
No proceedings have been initiated on/or are pending against the Company for holding benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made
thereunder
ii Wilful defaulter
The Company has not been declared wilful defaulter by any bank or financial institution or
government or any government authority.
iii Relationships with struck off companies
The Company has no transactions with the companies struck off under Companies Act, 2013
or Companies Act, 1956 except as mentioned below for the years ended 31 March 2026 and
31 March 2025.
42. Additional disclosures (contd.)
iv Compliance with approved scheme(s) of arrangements
The Company has not entered into any scheme of arrangement which has an accounting impact
on current or previous financial year.
v Undisclosed income
There is no income surrendered or disclosed as income during the current or previous year in
the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books
of account.
vi Details of Crypto currency
The Company has not traded or invested in crypto currency or virtual currency during the current
or previous year
vii Compliance with number of layers of Companies
The Company has complied with the number of layers prescribed under the Companies Act,
2013.
viii Valuation of Property, plant and equipment, intangible assets and investment property
The Company has not revalued its property plant and equipment (including right-of-use assets)
or intangible assets or both during the current or previous year
ix Charges or satisfaction which are yet to be registered with Registrar of Companies beyond the
satisfactory period as at 31 March 2026
All the charges are registered as satisfied with the registrar of companies as at 31 March 2025
and 31 March 2026
|