2A.6 Provisions

A provision is recognised if, as a result of a past event,
the Company has a present legal or constructive
obligation that can be estimated reliably, and it is
probable that an outflow of economic benefits will
be required to settle the obligation. Provisions are
determined by discounting the expected future
cash flows (representing the best estimate of the
expenditure required to settle the present obligation
at the balance sheet date) at a pre-tax rate that
reflects current market assessments of the time
value of money and the risks specific to the liability.
The unwinding of the discount is recognised as
finance cost. Expected future operating losses are not
provided for.

2A.7 Contingent Liabilities and Contingent
Assets

Contingent liabilities are disclosed when there is
a possible obligation arising from past events, the
existence of which will be confirmed only by the
occurrence or non-occurrence of one or more
uncertain future events not wholly within the control
of the Company or a present obligation that arises
from past events where it is either not probable that
an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount cannot
be made. A contingent asset is not recognized in
financial statements, however, the same is disclosed
where an inflow of economic benefit is probable.

2A.8 Revenue Recognition

Revenue from sale of goods is recognized when
control of the products being sold is transferred to the
customer and when there are no longer any unfulfilled
obligations.

The performance obligations in contracts by the
Company are fulfilled at the time of dispatch, delivery
or upon formal customer acceptance depending on
customer terms.

Revenue is recognized at the point in time when the
performance obligation is satisfied and control of the
goods are transferred to the customer upon dispatch
or delivery, in accordance with the terms of customer
contracts.

Revenue is recognized at an amount that the
Company expects to receive from customers that is
net of discounts, rebates and taxes as applicable.

The customers have the contractual right to return
goods only when authorized by the Company. An
estimate is made of goods that will be returned and
a liability is recognized for this amount using a best
estimate based on accumulated experience.

Rental Income

Income from rentals is recognized in accordance with
terms of the contracts with customer based on the
period for which the facilities have been used.

Interest Income

Interest income is recognized using the effective
interest rate (EIR) method.

Dividend Income

Dividend income on investments is recognized when
the right to receive dividend is established.

2A.9 Employee Benefits

(i) Defined benefit plans

For defined benefit plans, the cost of providing benefits
is determined using the Projected Unit Credit Method,
with actuarial valuations being carried out at each
balance sheet date. Remeasurement, comprising
actuarial gains and losses, the effect of the changes
to the asset ceiling and the return on plan assets
(excluding interest), is reflected immediately in the
balance sheet with a charge or credit recognized
in other comprehensive income in the period in
which they occur. Past service cost, both vested and
unvested, is recognized as an expense at the earlier
of (a) when the plan amendment or curtailment
occurs; and (b) when the entity recognizes related
restructuring costs or termination benefits.

(ii) Defined contribution plans

The retirement benefit obligations recognized in
the balance sheet represents the present value of
the defined benefit obligations reduced by the fair
value of scheme assets. Any asset resulting from this
calculation is limited to the present value of available
refunds and reductions in future contributions to the
scheme.

Contributions to defined contribution plans are
recognized as expense when employees have
rendered services entitling them to such benefits.

(iii) Short-term employee benefits

All employee benefits payable wholly within twelve
months of rendering the service are classified as
short-term employee benefits. Benefits such as
salaries, wages etc. and the expected cost of bonus
are recognized in the period in which the employee
renders the related service. A liability is recognized
for the amount expected to be paid when there is
a present legal or constructive obligation to pay
this amount as a result of past service provided by
the employee and the obligation can be estimated
reliably.

(iv) Compensated absences

Compensated absences which are expected to occur
within twelve months after the end of the period in
which the employee renders the related services are

recognized as undiscounted liability at the balance
sheet date. Compensated absences which are not
expected to occur within twelve months after the
end of the period in which the employee renders
the related services are recognized as an actuarially
determined liability at the present value of the defined
benefit obligation at the balance sheet date.

2A.10 Income taxes

Income tax expense comprises current tax expense
and the net change in the deferred tax asset or
liability during the year. Current and deferred taxes
are recognized in statement of profit and loss, except
when they relate to items that are recognized in other
comprehensive income or directly in equity, in which
case, the current and deferred tax are also recognized
in other comprehensive income or directly in equity,
respectively.

Current tax

Current tax is the expected tax payable/receivable on
the taxable income/loss for the year using applicable
tax rates for the relevant period, and any adjustment
to taxes in respect of previous years. Interest
expenses and penalties, if any, related to income
tax are included in finance cost and other expenses
respectively. Interest income, if any, related to income
tax is included in other income.

Advance taxes and provisions for current income
taxes are presented in the balance sheet after off¬
setting advance tax paid and income tax provision
where the relevant tax paying unit intends to settle the
asset and liability on a net basis.

Deferred tax

Deferred income tax is recognized using the balance
sheet approach. Deferred income tax assets and
liabilities are recognized for deductible and taxable
temporary differences arising between the tax base
of assets and liabilities and their carrying amount,
except when the deferred income tax arises from the
initial recognition of an asset or liability in a transaction
that is not a business combination and affects neither
accounting nor taxable profit or loss at the time of the
transaction.

Deferred income tax assets are recognized to the
extent that it is probable that taxable profit will be
available against which the deductible temporary
differences and the carry forward of unused tax
credits and unused tax losses can be utilized.

The carrying amount of deferred income tax assets
is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient

taxable profit will be available to allow all or part of the
deferred income tax asset to be utilized.

Deferred tax assets and liabilities are measured using
substantively enacted tax rates expected to apply to
taxable income in the years in which the temporary
differences are expected to be received or settled.

Deferred tax assets and liabilities are offset when they
relate to income taxes levied by the same taxation
authority and the relevant entity intends to settle its
current tax assets and liabilities on a net basis.

2A.11 Earnings per share

Basic earnings per share is computed by dividing
profit or loss attributable to equity shareholders of the
Company by the weighted average number of equity
shares outstanding during the year. The Company did
not have any potentially dilutive securities in any of
the years presented.

2A.12 Foreign currency

Foreign currency transactions are recorded at
exchange rates prevailing on the date of the
transaction. Foreign currency denominated monetary
assets and liabilities are retranslated at the exchange
rate prevailing on the balance sheet date and
exchange gains and losses arising on settlement and
restatement are recognized in the statement of profit
and loss. Non-monetary assets and liabilities that
are measured in terms of historical cost in foreign
currencies are not retranslated.

2A.13 Financial instruments

Financial assets and liabilities are recognized when
the Company becomes a party to the contractual
provisions of the instrument. Financial assets and
liabilities are initially measured at fair value.

Transaction costs that are directly attributable to the
acquisition or issue of financial assets and financial
liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added
to or deducted from the fair value measured on initial
recognition of financial asset or financial liability.

The Company derecognizes a financial asset only
when the contractual rights to the cash flows from
the asset expire, or when it transfers the financial
asset and substantially all the risks and rewards of
ownership of the asset to another entity. The Company
derecognizes financial liabilities when, and only when,
the Companys' obligations are discharged, cancelled
or have expired.

Cash and cash equivalents

The Company considers all highly liquid financial
instruments, which are readily convertible into known
amounts of cash that are subject to an insignificant
risk of change in value and having original maturities
of three months or less from the date of purchase,
to be cash equivalents. Cash and cash equivalents
consist of balances with banks which are unrestricted
for withdrawal and usage.

Financial assets at amortized cost

Financial assets are subsequently measured at
amortized cost if these financial assets are held within
a business whose objective is to hold these assets to
collect contractual cash flows and the contractual
terms of the financial assets give rise on specified
dates to cash flows that are solely payments of
principal and interest on the principal amount
outstanding.

Financial assets at fair value through other
comprehensive income

Financial assets are measured at fair value through
other comprehensive income if these financial
assets are held within a business whose objective is
achieved by both collecting contractual cash flows on
specified dates that are solely payments of principal
and interest on the principal amount outstanding and
selling financial assets.

The Company has made an irrevocable election
to present subsequent changes in the fair value
of equity investments not held for trading in other
comprehensive income.

Financial assets at fair value through profit or
loss

Financial assets are measured at fair value through
profit or loss unless they are measured at amortized
cost or at fair value through other comprehensive
income on initial recognition. The transaction costs
directly attributable to the acquisition of financial
assets and liabilities at fair value through profit or loss
are immediately recognized in statement of profit
and loss.

Financial liabilities

Financial liabilities are measured at amortized cost
using the effective interest method.

Hedge accounting

The Company designates certain foreign exchange
forward contracts as hedge instruments in respect of
foreign exchange risks. These hedges are accounted
for as cash flow hedges.

The Company uses hedging instruments that are
governed by the policies of the Company which
are approved by the Board of Directors. The policies
provide written principles on the use of such financial
derivatives consistent with the risk management
strategy of the Company.

The hedge instruments are designated and
documented as hedges at the inception of the
contract. The Company determines the existence
of an economic relationship between the hedging
instrument and hedged item based on the currency,
amount and timing of their respective cash flows.
The effectiveness of hedge instruments to reduce
the risk associated with the exposure being hedged
is assessed and measured at inception and on an
ongoing basis. If the hedged future cash flows are no
longer expected to occur, then the amounts that have
been accumulated in other equity are immediately
reclassified in net foreign exchange gains/losses in
the statement of profit and loss.

The effective portion of change in the fair value of the
designated hedging instrument is recognized in the
other comprehensive income.

Hedging instrument is recognized as a financial asset
in the balance sheet if its fair value as at reporting
date is positive as compared to carrying value and as
a financial liability if its fair value as at reporting date
is negative as compared to carrying value.

Hedge accounting is discontinued when the hedging
instrument expires or is sold, terminated or no longer
qualifies for hedge accounting. Any gain or loss
recognized in other comprehensive income and
accumulated in equity till that time remains and is
recognized in statement of profit and loss when the
forecasted transaction ultimately affects the profit or
loss.

2(b) significant accounting policies
2B.1 Investment property

Investment property is property held either to
earn rental income or for capital appreciation or
for both, but not for sale in the ordinary course of
business, use in the production or supply of goods or
services or for administrative purposes. Upon initial
recognition, an investment property is measured at
cost. Subsequently, investment property is measured

at cost less any accumulated depreciation and
accumulated impairment losses, if any.

Gains or losses arising on retirement or disposal of
investment property are recognized in the Statement
of Profit and Loss.

The fair value of investment property is disclosed in the
notes. Fair values are determined by an accredited
independent registered valuer who hold a recognized
and relevant professional qualification and has
recent experience in the location and category of the
investment property being valued.

2B.2 Intangible Assets

Intangible assets purchased are initially measured
at cost. Subsequently, intangible assets are carried
at cost less any accumulated amortization and
accumulated impairment losses, if any. The useful
lives of intangible assets are assessed as finite. Finite-
life intangible assets are amortized on a straight-line
basis over the period of their estimated useful lives.

2B.3 Cash flow Statement

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

2B.4 Leases

The Companys' lease asset classes primarily consist
of leases for Land. The Company assesses whether
a contract is or contains a lease, at inception of a
contract. A contract is, or contains, a lease if the
contract conveys the right to control the use of an
identified asset for a period of time in exchange for
consideration. To assess whether a contract conveys
the right to control the use of an identified asset, the
Company assesses whether: (i) the contract involves
the use of an identified asset (ii) the Company has
substantially all of the economic benefits from use of
the asset through the period of the lease and (iii) the
Company has the right to direct the use of the asset.
At the date of commencement of the lease, a right-of-
use asset ("ROU") and a corresponding lease liability
is recognized for all lease arrangements in which the

Company is a lessee, except for leases with a term of
twelve months or less (short-term leases) and leases
of low value assets. For these short-term and leases of
low value assets, the Company recognizes the lease
payments as an operating expense on a straight¬
line basis over the term of the lease. The right-of-
use assets are initially recognized at cost, which
comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior
to the commencement date of the lease plus any
initial direct costs less any lease incentives. They are
subsequently measured at cost less accumulated
depreciation and impairment losses, if any. Right-of-
use assets are depreciated from the commencement
date on a straight-line basis over the shorter of the
lease term and useful life of the underlying asset. ROU
asset has been separately presented in the Balance
Sheet.

The lease liability is initially measured at the present
value of the future lease payments. The lease
payments are discounted using the interest rate
implicit in the lease or, if not readily determinable,
using the incremental borrowing rates.

The lease liability is subsequently remeasured by
increasing the carrying amount to reflect interest on
the lease liability, reducing the carrying amount to
reflect the lease payments made. A lease liability is

remeasured upon the occurrence of certain events
such as a change in the lease term or a change in
an index or rate used to determine lease payments.
The remeasurement normally also adjusts the leased
assets. There exists no lease liability in respect of long¬
term lease of land as the lease premium for the entire
lease period was paid upfront at lease initiation/
renewal.

2B.5 Segment reporting

Operating segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker (CODM). The board
of directors of IVP has appointed the Chief Executive
Officer ('CEO') to assess the financial performance
and position of the Company, and make strategic
decisions. The CEO has been identified as being
the Chief Operating Decision Maker for corporate
planning.

2B.6 Recent accounting developments

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, MCA
has not notified any new amendment to the existing
standards under Companies (Indian Accounting
Standards) which are effective from 1.4.2026.

Description of the nature and purpose of Other Equity

General Reserve: The General Reserve comprises of transfer of profits from retained earnings for appropriation
purposes. The reserve can be distributed/utilised by the Company in accordance with the Companies Act, 2013.

Retained Earnings: Retained Earnings are the profits that the Company has earned till date and is net of amount
transferred to other reserves such as general reserves etc., amount distributed as dividends and adjustments
on account of transition to Ind AS.

Note: The Board of Directors in their meeting held on May 21, 2026 have recommended a dividend of g 1.50 per
Equity Share (March 31, 2025: g 1 per Equity Share) to be approved by the shareholders in the ensuing general
meeting. On approval, this will result in an outflow of g 155 Lakhs (March 31, 2025: g 103 lakhs).

(i) Cash credit facilities from multiple banks are repayable on demand and carry interest rates during the year
ranging from 8.25% p.a. to 10.00% p.a. (FY 24-25: 7.70% p.a. to 10.59% p.a).

(ii) Working capital demand loans taken from multiple banks carry interest rates during the year ranging from
6.86% p.a. to 9.00% p.a. (FY 24-25: 7.55% p.a. to 9.04% p.a). These loans are repayable on different dates within
three months from the balance sheet date.

(iii) Buyer's credit is a loan facility under Supplier Financing Arrangement extended by bank against import and
carries interest rates linked to Secured Overnight Financing Rate (SOFR) during the year ranging from 4.26%
p.a. to 4.94% p.a. (FY 24-25: 4.80% p.a. to 5.88% p.a).

(iv) Inter-corporate deposits carry interest @ 7.25% p.a. (FY 24-25: 7.25%). Interest rate has been revised to 6.75%
p.a. from 7.25% p.a. with effect from 01st April 2026.

Supplier Finance Arrangement disclosure requirement as per IND AS 7

Supplier financing is arranged through Buyer's Credit, a loan facility extended by the bank against import-backed
issuance of a Standby Letter of Credit (SBLC). Under this arrangement, the bank settles payments to suppliers on
the due date and provides us an extended credit period of 30-60 days and accordingly outstanding amounts
classified under short-term borrowings. This helps optimize working capital and manage cash flows efficiently,
with interest rates typically linked to SOFR. The effective interest rate under this arrangement is generally lower
than standard bank borrowing rates.

1) Type and Effect of Non-Cash Changes

During the period, the following non-cash changes occurred in the carrying amounts of borrowings related to
Supplier Financials Arrangement.

a) Effect of Exchange Differences:

The company has recognised non-cash exchange differences in the carrying amount of borrowings arising
from supplier financing arrangements.

As of the Balance Sheet date, the carrying amount of borrowings related to supplier financing arrangements
denominated in foreign currencies has increased by g 69 lakhs due to changes in foreign exchange rates.

The Government of India has consolidated 29 existing 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 Ministry of Labour & Employment notified
Central Rules on 8 May 2026 however State rules are yet to be notified. The new Labour Codes have resulted
in one time increase in provision for employee benefits of the company. The estimated incremental impact of
these changes as assessed by the Company amounts to g 46 lakhs pertains to past services rendered upto
31st March 2026 and this has been recognised and presented as Exceptional Items in the Statement of profit and
loss of the Company for the year ended March 31, 2026 consistent with the guidance provided by the Institute of
Chartered Accountants of India. Once Central/State Rules are notified by the Government on all aspects of the
Codes, the Company will evaluate impact, if any, on the measurement of employee benefits and would provide
appropriate accounting treatment.

The Company has disclosed financial instruments such as cash and cash equivalents, trade receivables, loans,
other financial assets, borrowings, trade payables and other financial liabilities at carrying value because their
carrying amounts are a reasonable approximation of the fair values due to their short term nature.

B. Fair Value measurement hierarchy

The fair value of financial instruments as referred to in note (a) have been classified into three categories
depending on the inputs used in the valuation technique.

The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level
1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market;

Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and
Level 3: Inputs which are not based on observable market data.

Financial assets and liabilities measured at fair value as at Balance Sheet date

i. The Fair values of investments in quoted investment in equity shares is based on the current bid price of
respective investment as at the Balance Sheet date.

ii. The Company entered into forward contracts to hedge foreign currency risks of underlying exposures
during FY 2025-2026 as well as in FY 2024-2025.

iii. Financial instruments such as cash and cash equivalents, trade receivables, loans, other financial assets,
borrowings, trade payables and other financial liabilities are stated at carrying value because their carrying
amounts are a reasonable approximation of the fair values due to their short term nature.

41. CAPITAL MANAGEMENT AND FINANCIAL RISK MANAGEMENT POLICY
A. Capital management

For the purpose of the Companys' capital management, Capital includes Issued Equity Capital and all Other
Reserves attributable to the Equity shareholders of the Company. The Primary objective of the Companys' Capital
Management is to maximise the shareholders' value. The Companys' capital management objectives are to
maintain equity including all reserves to protect economic viability and to finance any growth opportunities that
may be available in future so as to maximise shareholder's value. The Company is monitoring Capital using the
equity ratio as its base, which is total equity divided by total assets. Also, the Company monitors capital using
debt-equity ratio, which is total debt divided by total equity.

effectively to achieve the business objectives. This includes identification of risk, its assessment, control and
monitoring at timely intervals.

The above mentioned risks may affect the Companys' income and expenses, or the value of its financial
instruments. The Companys' exposure to and management of these risks are explained below:

i. Foreign currency risk

The Company is subject to the risk that changes in foreign currency values impact the Companys' imports and
other payables. During the reporting period the company has availed and utilised facility of Buyer's Credit from
bank which also exposed the company to foreign currency risk as buyer's credit facility is considered as foreign
currency loan. The Company is exposed to foreign exchange risk arising from various currency exposures,
primarily with respect to US Dollar. The exposures are hedged as per the policy of the Company.

ii. Forward foreign exchange contracts

It is the policy of the Company to enter into forward foreign exchange contracts to cover foreign currency
payments in USD. The Company enters into contracts with terms upto 120 days. The Companys' philosophy does
not permit any speculative calls on the currency. It is driven by conservatism which guides that management
follows conventional wisdom by use of Forward contracts in respect of Trade transactions.

Regulatory requirements: The Company will alter its hedge strategy in relation to the prevailing regulatory
framework and guidelines that may be issued by RBI, FEDAI or ISDA or other regulatory bodies from time to time.

Forward cover is obtained from bank for each of the aggregated exposures and the Trade deal is booked. The
forward cover deals are all backed by actual trade underlines and settlement of these contracts on maturity are
by actual delivery of the hedged currency for settling the underline hedged trade transaction.

The Company entered into forward cover contracts during FY 2025-2026 as well as in FY 2024-2025.

b. Credit risk

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to
the Company. Credit risk arises primarily from financial assets such as trade receivables, investment in mutual
funds, derivative financial instruments, other balances with banks, loans and other receivables. The outstanding
trade receivables are regularly monitored and appropriate action is taken for collection of overdue receivables.
Credit risk arising from investment in mutual funds, derivative financial instruments and other balances with
banks is limited and there is no collateral held against these because the counterparties are banks and
recognised financial institutions with high credit ratings. The Companys' exposure is continuously monitored.

The Company uses a provision matrix to determine impairment loss on portfolio of its trade receivables. The
provision matrix is based on its historically observed default rates over the expected life of the trade receivable
and is adjusted for forward-looking estimates. At every reporting date, the historically observed default rates are
updated and changes in forward-looking estimates are analysed. The Company estimates the following matrix
at the reporting date.

Trade Receivable of g 21,018 lakhs as at March 31, 2026 forms a significant part of the financial assets carried
at amortised cost which is valued considering provision for allowance using expected credit loss method. In
addition to the historical pattern of credit loss, management has considered forward looking information. The
Company closely monitors its customers on regular basis. Basis this assessment, the allowance for doubtful
trade receivables of g 2,388 lakhs as at March 31, 2026 is considered adequate.

c. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in raising funds to meet commitments
associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity
risk may result from an inability to sell a financial asset quickly at close to its fair value The Company maintains
a cautious liquidity strategy, with a positive cash balance throughout the year. Management monitors the
Companys' liquidity position through rolling forecasts on the basis of expected cash flows. Cash flow from
operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.

Additional funding required, if any, will be provided by the banks based on undrawn sanctioned working capital
facilities.

42. EMPLOYEE BENEFITS

The Company has classified various employee benefits as under:

A. Defined contribution plans

State Defined Contribution Plans

- Employers' Contribution to Employees' State Insurance

- Employers' Contribution to Employees' Pension Scheme 1995

The Companys' contributions paid/payable to Employees State Insurance Scheme, Employees Pension
Schemes, 1995 and other funds, are determined under the relevant approved schemes and/or statutes and are
recognised as expense in the Statement of Profit and Loss during the year in which the employee renders the
related service. There are no further obligations other than the contributions payable to the approved trusts/
appropriate authorities.

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

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

Each year an Asset - Liability matching study is
performed in which the consequences of the strategic
investment policies are analysed in terms of risk and
return profiles. Investment and contribution policies
are integrated within this study.

The Company is expected to contribute g 81 lakhs
to Gratuity fund for the year ended March 31, 2026.
(March 31,2025: g 14 lakhs).

(ii) Provident fund

In accordance with Indian law, all eligible employees
of the Company in India are entitled to receive

benefits under the provident fund plan in which
both the 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. This plan is a
defined benefit plan as the Company is obligated to
provide its members a rate of return which should,
at the minimum, meet the interest rate declared by
Government administered provident fund. A part of the
Companys' contribution is transferred to Government
administered pension fund. The contributions made
by the Company and the shortfall of interest, if any, are
recognised as an expense in statement of profit and
loss under employee benefit expenses. In accordance
with an actuarial valuation of provident fund liabilities
on the basis of guidance issued by Actuarial Society
of India and based on the assumptions as mentioned
below, there is no deficiency in the interest cost as
the present value of the expected future earnings
of the fund is greater than the expected amount to
be credited to the individual members based on the
expected guaranteed rate of interest of Government
administered provident fund. However, during the
year, Trust estimated deficit in Income and Expenditure
account amounting to g 9 lakhs excluding mark-to-
market losses on investment in mutual funds which
has been recognised as an expenses in statement of
Profit and Loss under employee benefit expenses.

The Company contributed g 210 Lakhs and g 195 Lakhs for the year ended March 31, 2026 and March 31, 2025
respectively, to the provident fund.

C. Other long term employee benefits

Compensated absences

Provision in respect of leave encashment benefits has been made based on actuarial valuation carried out
by an independent actuary at the Balance sheet date using Projected Unit Credit method. During the year, the
Company has recognised g 11 Lakhs as an expenses (March 31, 2025: g 12 Lakhs) in the Statement of Profit and
Loss.

45. FRAUD

During the year, the Company identified a fraud
involving misrepresentation and falsification of
customer records by a sales employee. Based on
the findings of the completed investigation, the total
financial impact has been assessed at f 613 lakhs. The
same is fully provided for in the books in accordance
with Ind AS 109 "Financial Instruments" including S 254
lakhs provided during the financial year.

The Company has initiated steps for recovery and

Internal controls and processes have been further
strengthened to mitigate and prevent recurrence of
such incidents.

46. OTHER STATUTORY INFORMATION

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

ii. The Company does not have any Capital-work-in

progress or intangible assets under development,
whose completion is overdue or has exceeded its
cost to its original plan.

iii. The Company has not advanced or loaned or
invested funds to any other person(s) or entity(ies),

including foreign entitles (Intermediaries) with
the understanding that the Intermediary shall:

a. Directly or indirectly lend or invest in other
persons or entities identified in any manner
whatsoever by or on behalf the company
(ultimate Beneficiaries), or

b. Provide any guarantee, security or the like to
or on behalf of the Ultimate beneficiaries.

iv. The Company has not received any fund from
any person(s) or entity(ies), including foreign
entities (Funding Party) with the understanding

(whether recorded in writing or otherwise) that
the company will:

a. Directly or indirectly lend or invest in other
persons or entities identified in any manner
whatsoever by or on behalf the Funding Party
(Ultimate Beneficiaries), or

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

v. The Company has not entered into any such

transaction which is not recorded in the books of
accounts that has been surrendered or disclosed
as income during the year in the tax assessments
under the Income-tax Act 1961.

vi. 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.

vii. Compliance with number of layers of
companies:

the number of layers prescribed under the
Companies Act, 2013.

viii. Compliance with approved scheme(s) of
arrangements:

any scheme or arragnement during the year.

ix. Details of crypto currency or virtual currency: The Company has not traded or invested in crypto currency
or virtual currency during the current or previous year.

x. Title deeds of immovable properties not held in name of the Company: There are no immovable properties
(other than properties where the Company is the lessee and the lease agreements are duly executed in
favour of the lessee) not held in the name of the Company.

xi. Registration of charges or satisfaction with registrar of companies: There are no charges or satisfaction
which are yet to be registered with the registrar of companies beyond the statutory period.

xii. The Company has used 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 software. Further, there were no instances of audit trail features being tampered
with in respect of the said software.

Additionally, the audit trail has been preserved by the company as per the statutory requirements for the
record retention.

xiii. Utilisation of borrowings availed from banks and financial institutions - The borrowings obtained by the
Company from banks and financial institutions have been applied for the purposes for which such loans
were was taken.

xiv. Borrowing secured against current assets - The Company has not taken any working capital borrowings
from banks and financial institutions on the basis of security of current assets of the Company.

47. The figures for the previous year have been regrouped/reclassified to correspond with current year's

classification/disclosure.