3.16 Provisions, Contingent Liabilities and Contingent
Assets:

Provision is recognized when the Company has a present
obligation (legal or constructive) as a result of past events and

it is probable that the outflow of resources will be required to
settle the obligation and in respect of which reliable estimates
can be made.

A disclosure for contingent liability is made when there is a
possible obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation or a
present obligation in respect of which the likelihood of outflow
of resources is remote, no provision/ disclosure is made. The
Company does not recognize a contingent liability but discloses
its existence in the financial statements.

Contingent assets are not recognized in the financial statements.
Provisions and contingencies are reviewed at each balance
sheet date and adjusted to reflect the correct management
estimates.

If 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. Commitments
include the amount of purchase order (net of advances) issued
to parties for completion of assets. Provisions, contingent
liabilities, contingent assets and commitments are reviewed at
each balance sheet date.

3.17 Determination of Lease Term and Discount RateA. Determination of Lease Term:

Ind AS 116 Leases requires lessee to determine the lease
term as the non-cancellable period of a lease adjusted
with any option to extend or terminate the lease, if the use
of such option is reasonably certain. The Company makes
assessment on the expected lease term on lease-by-lease
basis and thereby assesses whether it is reasonably certain
that any options to extend or terminate the contract will
be exercised. In evaluating the lease term, the Company
considers factors such as any significant leasehold
improvements undertaken over the lease term, costs
relating to the termination of lease and the importance
of the underlying to the Company's operations taking
into account the location of the underlying asset and the
availability of the suitable alternatives. The lease term in
future periods is reassessed to ensure that the lease term
reflects the current economic circumstances.

B. Estimating the Incremental Borrowing Rate:

The Company cannot readily determine the interest rate
implicit in the lease, therefore, it uses its incremental
borrowing rate (IBR) to measure lease liabilities. The IBR
is the rate that the Company have to pay to borrow over
a similar terms, and with a similar security, the funds
necessary to obtain an asset of similar value to the right-
to-use asset in a similar economic environment. The IBR

therefore reflects what the Company 'would have to pay',
which require estimation when no observable rates are
available or when they need to be adjusted to reflect the
terms and conditions of the lease. The Company estimates
the IBR using observable inputs when available and is
required to make certain entity / lease transaction specific
estimates. For further details on lease liabilities movement
refer note 52(B). The weighted average incremental
borrowing rate applied to lease liabilities is 10.25%
(previous year 10.25%).

3.18 Cash and Cash Equivalents

Cash and cash equivalent comprise cash on hand and demand
deposits with banks which are short-term, highly liquid
investments that are readily convertible into known amounts
of cash and which are subject to insignificant risk of changes
in value.

3.19 Exceptional items

Certain occasions, the size, type or incidence of an item of
income or expense, pertaining to the ordinary activities of the
Company is such that its disclosure improves the understanding
of the performance of the Company, such income or expense is
classified as an exceptional item and accordingly, disclosed in
the notes accompanying to the financial statements.

3.20 Investment in subsidiaries and joint ventures

Equity investments in subsidiaries and joint ventures are stated
at cost less impairment, if any as per Ind AS 27. The Company
tests these investments for impairment in accordance with the
policy applicable to 'Impairment of nonfinancial assets' Where
the carrying amount of an investment or cash generating unit
to which the investment relates is greater than its estimated
recoverable amount, it is written down immediately to its
recoverable amount and the difference is recognized in the
Statement of Profit and Loss.

The company has recognised as an expenses in profit and loss account in respect of defined contribution plan C243.32 Lakhs
(Previous Year : C187.43 Lakhs) administrated by government.

Defined benefit plan and long term employment benefit
Defined Benefit Plan (Gratuity)

The company has a defined benefit gratuity plan. Every employee who has completed five years and more service gets a gratuity
on death or resignation or retirement at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded
with insurance company in the form of qualifying insurance policy.

Long Term Employment Benefit (Leave Wages)

Leave wages are payable to all eligible employees at the rate of daily salary for each day of accumulated leave on death or
resignation or upon retirement on attaining superannuation age.

- On November 21, 2025, the Ministry of Labour and employment notified the four Labour Codes - the Code on Wages, 2019,
the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working
Conditions Code, 2020 - consolidating 29 existing labour laws. An estimated one-time impact on recognition of past service
cost of C116.51 Lakhs during the year ended March 31,2026 with respect to increase in liability of Gratuity and compensated
absences, primarily arising due to changing definition of wages pursuant to the notification issued by the Ministry of Labour
and Employment. The Company continues to monitor the finalization of rules by the Central and the State Government and
clarifications from the Government on the other aspects of the New Labour Codes and will account for such developments as
needed.

a. The management has determined that all of the aforementioned ongoing tax litigations are only possible in nature and
expected to be resolved in the company's favor, based on the legal counsels advice and the current status of the proceedings
of the respective matters. The Company do not expect any material financial impact.

b. The company received show-cause notices regarding couple of matters, but no further demands were raised with respect to
such notices. Based on an internal assessment by management, the company has not disclosed such notices as contingent
liabilities or acknowledged them as claims.

c. In respect of disputed matters under appeal, where the demand includes components of interest and penalty that are not
quantifiable, such amounts have not been disclosed herein.

d. The company is involved in a couple of court cases, such as those involving regulatory issues pertaining to how it conducts
business. According to the legal counsel's advice, the management has determined that the possibilities of such litigation
having an unfavorable outcome is distant, and as a result, it has not been considered as contingent liability.

Note: -35: Event Occurring After Balance Sheet

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to approval of the
financial statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the
financial statements. There were no subsequent events identified that requires disclosure as per IndAS 10.

Note: -36: In compliance with Ministry of Corporate Affairs Notification w.r.t amendments in Schedule III to the Companies Act,
2013, figures for comparative previous periods has been regrouped, reclassified and rearranged wherever necessary for better
presentation and to make them comparable with those of current financial year.

Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and
are to be read in relation to the amounts and other disclosures relating to current year.

Note: -37: Balances of Trade Payables, Trade Receivables, Receivables / Payables from / to various parties / authorities, Loans &
advances are subject to confirmation from the respective parties, and necessary adjustments if any, will be made on its reconciliation.

Note: -38: In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in
ordinary course of business will not be less than the amount at which these are stated in the Balance Sheet.

Note: -39: Disclosure pursuant to regulation 34(3) and 53(f) read with para A of schedule V of the SEBI (Listing obligation and
disclosure requirements) Regulations, 2015.

The Company does not have any outstanding dilutive potential equity shares. Consequently, the basic and dilutive earning per
share of the Company remain the same.

Note: - 48: During the financial year ended March 31,2026, there were no instances in which the amount, nature, or frequency of
any item of income or expense arising from the Company's ordinary activities was such that separate disclosure would enhance the
understanding of the Company's financial performance. Accordingly, no items have been classified or recognized as exceptional
in the Statement of Profit and Loss.

Note: - 49: Hedge Accounting:

A. Derivative Instrument outstanding:

The year-end foreign currency exposures that have been hedged by derivative instruments are given below-

Note: -50: Financial Instruments - Fair Values & Risk Management:A. Financial Assets and Liabilities

The Company's principal financial assets include loans and trade receivables, investments, cash and cash equivalents and other
receivables. The Company's principal financial liabilities other than derivatives comprise of borrowings, trade and other payables.
The main purpose of these financial liabilities is to finance the Company's operations and projects.

B. Disclosure of fair value measurement and fair value hierarchy for Financial Assets and Liabilities

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in
the fair value hierarchy:

C. Valuation techniques and significant unobservable inputs:

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as
follows:

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

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, eitherdirectly (i.e. as prices)
or indirectly (i.e. derived from prices)

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

Note: - 51: Financial Risk Management Objectives & Policies:

The Company's financial risk management is an integral part of how to plan and execute its business strategies. The company's
financial risk management policy is set by the Managing Board. The Company's principal financial liabilities, other than derivatives,
comprises of borrowings and trade & other payables. The main purpose of these financial liabilities is to finance the Company's
operations and to support its operations. The Company's principal financial assets include investments, loans given, trade and
other receivables and cash & short-term deposits that derive directly from its operations. Risk assessment and management of
these policies and processes are reviewed regularly to reflect changes in market conditions and the Company's activities.

The company has exposure to the following risks arising from financial instruments: -

(i) Market Risk

(a) Currency Risk

(b) Interest Rate Risk

(c) Commodity Risk

(d) Equity Risk

(ii) Credit Risk and

(iii) Liquidity Risk

A. Risk Management Framework:

The Company's activities expose it to variety of financial risks, including market risk, credit risk and liquidity risk. The
Company's primary objective in risk management is to minimize potential adverse effects of risk on its financial performance.
The company's risk management policies and processes are established to identify and analyze the risk faced by the
company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment
and management of these policies and processes are reviewed regularly to reflect changes in market conditions and the

Company's Activity. The Board of Directors and Audit Committee are responsible for overseeing these policies and processes.

In order to minimize any adverse effects on the financial performance of the company, derivative financial instruments,
such as foreign exchange forward contracts are entered to hedge certain foreign currency exposures. Derivatives are used
exclusively for hedging purposes and not as trading/speculative instruments.

(i) Market Risk:

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price
of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates,
foreign currency exchange rates, equity prices, commodity prices and other market changes that affect market risk
sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments
and deposits, foreign currency receivables and payables. The objective of market risk management is to manage and
control market risk exposure within acceptable parameters, while optimizing the returns.

(a) Currency Risk:

The fluctuation in foreign currency exchange rates may have potential impact on the profit and loss of the company,
where any transactions has more than one currency or where assets/liabilities are denominated in a currency other
than the functional currency of the entity.

Considering the countries and economic environment in which the company operates, its operations are subject
to risks arising from fluctuations in exchange rates in those countries. The risk primarily relates to fluctuations in
U.S. dollar, GBP and Euro, against the respective functional currencies (INR) of Gokul Agro Resources Limited.

The company, as per its risk management policy, uses its foreign exchange and other derivative instruments
primarily to hedge foreign exchange and interest rate exposure. The company does not use derivative financial
instruments for trading or speculative purpose.

i) Exposure to Currency Risk:-

Refer Note no. 49 for foreign currency exposure as at March 31,2026 and March 31,2025 respectively.

ii) Sensitivity Analysis: -

A 1% Increase/Decrease of the respective foreign currencies with respect to functional currency of company
would result in increase or decrease in profit or loss as shown in the table below. The following analysis has been
worked out based on the exposure as of the date of statement of financial position.

(b) Interest Rate Risk

Interest rate risk is the risk that fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The company's exposure to market risk for changes in interest rates relates to
borrowings from financial institutions. In order to optimize the company's position with regards to the interest
income and interest expenses and to manage the interest rate risk, treasury performs a comprehensive corporate

(c) Commodity Risk

The prices of agricultural commodities are subject to wide fluctuations due to unpredictable factors such as weather,
government policies, changes in global demand resulting from population growth and changes in standards of
living and global production of similar and competitive crops. During its ordinary course of business, the value of
the Company's open sales and purchases commitments and inventory of raw material changes continuously in
line with movements in the prices of the underlying commodities. To the extent that its open sales and purchases
commitments do not match at the end of each business day, the Company is subjected to price fluctuations in the
commodities market.

While the Company is exposed to fluctuations in agricultural commodities prices, its policy is to minimise its
risks arising from such fluctuations by hedging its purchase either through direct sales of a similar commodity or
through futures contracts on the commodity exchanges.

In the course of hedging its sales either through direct purchases or through futures, the Company may also be
exposed to the inherent risk associated with trading activities conducted by its personnel. The Company has in
place a risk management system to manage such risk exposure.

(d) Equity Risk

Equity/Mutual Fund price risk is related to change in market reference price of investments in equity/mutual fund
securities held by the Company. The fair value of quoted investments held by the Company exposes the Company
to equity/mutual fund price risks. These investments are classified as current investments.

The fair value of quoted investments in equity/mutual fund, classified as fair value through profit and Loss as at
March 31,2026 and March 31,2025 was C10,844.67 Lakhs and C967.11 Lakhs respectively.

A 5% change in market prices of such securities held as at March 31, 2026 and March 31, 2025, would result in
an impact of C542.23 Lakhs and C48.36 Lakhs respectively on equity/mutual fund investment before considering
tax impact.

(ii) Credit Risk

Credit risk arises from the possibility that a customer or counter party may not be able to settle their contractual
obligations as agreed. To manage this, the Company periodically assesses the financial reliability of customers, taking

into account the financial condition, current economic trends, and analysis of historical bad debts and ageing of
accounts receivable. Individual risk limits are set accordingly.

The Company considers the probability of default upon initial recognition of asset and whether there has been a
significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is
significant increase in credit risk the company compares the risk of a default occurring and the asset at the reporting
date with the risk of default as the date of initial recognition. It considers reasonable and supportive forward-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 obligation.

(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 third-

(vi) party guarantees or credit enhancements.

(a) Trade and Other Receivables: -

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry has an influence on credit risk assessment.
Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the credit
worthiness of customers to which the Company grants credit terms in the ordinary course of business.

The ageing analysis of these receivables (gross of provision) has been considered from the date of the Invoice.

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. The Company creates a provision for bad and doubtful debt for
such receivables, when a debtor fails to make contractual payments greater than 3 years past due. 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 recognised in profit or loss.

The Company has obtained fund and non-fund based working capital lines from various banks. The Company also
constantly monitors various funding options available in the debt and capital markets with a view to maintaining
financial flexibility.

As of March 31,2026, the Company has working capital of C51,227.47 Lakhs [March 31,2025 C32,400.50 Lakhs] including
cash and cash equivalents of C12,053.69 Lakhs [March 31,2025 C737.18 Lakhs] and investments in term deposits (i.e.,
bank certificates of deposit having maturities of less than 3 months & more than 3 months and less than 12 months) of
C38,740.89 Lakhs [March 31,2025 C24,438.13 Lakhs].

(a) Exposure to Liquidity Risk

The table below provides details regarding the remaining contractual maturities of financial liabilities at the
reporting date based on contractual undiscounted payments.

No amount has been written off considering the ECL model as the above analysis had not resulted into any new
allowance amount.

iii) Provision for expected credit losses against "I" and "II" above:

The company has assets where the counter- parties have sufficient capacity to meet the obligations and where
the risk of default is very low. Hence based on historic default rates, the Company believes that, no impairment
allowance is necessary in respect of above mentioned financial assets, except otherwise stated above.

(b) Cash and cash equivalents

The Company holds cash and cash equivalents with credit worthy banks of C12,053.69 Lakhs as at March 31,2026
[March 31,2025 C737.18 Lakhs]. The credit worthiness of such banks and financial institutions is evaluated by the
management on an ongoing basis and is considered to be good.

(c) Derivatives

The derivatives are entered into with credit worthy banks and financial institution as counterparties. The credit
worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is
considered to be good.

(d) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counter¬
parties that have a good credit rating. The Company does not expect any losses from non-performance by these
counter-parties apart from those already given in financials and does not have any significant concentration of
exposures to specific industry sectors or specific country risks.

(iii) Liquidity Risk

Liquidity Risk is defined as the risk that the company will not be able to settle or meet its obligations on time or at
reasonable price. The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient
liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risk to the Company's reputation. The company's treasury department is responsible for liquidity, funding
as well as settlement management. In addition, processes and policies related to such risks are overseen by senior
management. Management monitors the company's net liquidity position through rolling forecast on the basis of
expected cash flows.

Note: -53: Approval of Financial Statements

The financial statements of the Company for the year ended 31^st March, 2026 have been reviewed by the audit committee and
approved by the Board of Directors in its meeting held on 15^th May, 2026.

Note:- 54: Additional Regulatory Disclosures As Per Schedule III Of Companies Act, 2013

A. Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet as
given in Part I of Division II of Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and
other than those given elsewhere in any other notes to the Financial Statements.

a. No proceedings has been initiated or are pending against the Company for holding any Benami property under the
Benami Transaction (Prohibition) Act, 1988 and rules made thereunder.

b. The Company has Fund-based and Non-fund-based limits of Working Capital from Banks and Financial institutions. For
the said facility, the submissions made by the Company to its lead bankers based on closure of books of accounts at the
year end, the quarterly returns or statements comprising stock statements, statement of trade receivables and trade
payables and ageing analysis of the debtors/other receivables, and other stipulated financial information filed by the
Company with such banks or financial institutions are generally in agreement with the unaudited books of account of
the Company of the respective quarters and no material discrepancies have been observed.

c. The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a
willful defaulter at any time during the financial year or after the end of reporting period but before the date when the
financial statements are approved.

d. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013
or section 560 of the Companies Act, 1956.

e. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act
2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

f. Registration of charges or satisfaction with Registrar of Companies (ROC)

i. The company has registered/satisfaction of charges with ROC from time to time.

g. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities(intermediaries), with the understanding that the intermediary shall;

i. 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

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

h. The Company has not received any funds 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;

i. 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

ii. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

i. The Company does not have any transactions which is not recorded in the books of accounts but has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

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

B. Audit Trail:

The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail
(edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the accounting
software. Further no instance of audit trail feature being tampered with was noted in respect of the accounting software.
Additionally, the audit trail of prior year(s) 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.