(b) Buildings requiring modification and alterations to prepare them for their intended use are classified as Capital Work in Progress (CWIP).

(c) The gross block and accumulated depreciation as at April 01,2024, include the carrying values recorded pursuant to the amalgamation of Yellow Stone Fine Chemicals Private Limited (YFCPL), a wholly-owned subsidiary, with the Company. The amalgamation has been accounted for as a business combination under common control in accordance with Appendix C of Ind AS 103.

(d) During the year ended March 31, 2026, the Company has changed its method of depreciation from written down value method to straight line method taking into account its management's reassessment of the expected pattern of economic benefits from those assets. Had the Company continued its previous method, depreciation expense for the year ended March 31,2026 would have been higher by ' 1,129.24 Million. Consequently, the loss before tax for the year ended March 31,2026 would have been ' 203.42 Million.

(e) Impairment of certain tangible and intangible assets of Fluorination business:

The Company has carried out a review of recoverable amount in respect of certain tangible assets and intangible assets amounting to ' 4,915.74 Million (March 31, 2025: ' 5,215.31 Million) considering decline in performance, amongst other factors. The assessment was based on the management's business plans and projections which were approved by the Board of Directors. The key assumptions used for computation of value-in-use were sales growth rate, gross profit margins, long-term growth rate (cash flows beyond the 5 years period are extrapolated using the estimated long-term growth rate) and the risk-adjusted pre-tax discount rate. The discount rates were derived from the Company's weighted average cost of capital, taking into account the cost of capital, to which specific market-related premium adjustments are made. The Company had performed sensitivity analysis by changing the variables independently, keeping the other variables constant, based upon which, there would be no material impairment charge which would impact the decision of the users of the standalone financial statements.

(f) The amount of expenditure recognised in the carrying amount of property, plant and equipment in the course of construction is ' 193.18 Million (March 31,2025: ' 182.57 Million) out of which ' 19.28 Million (March 31, 2025: ' 70.64 Million) is incurred in current year.

(b) Initial Public Offer

In 2020-21, the Company had completed the Initial public offer ("The Offer / IPO") of 4,61,53,846 equity shares of face value of ' 2/- each at a price of ' 130/- per share (including a premium of ' 128/- per share) aggregating to ' 6,000.00 Million.

The Offer comprised of a fresh issue of 2,30,76,923 equity shares aggregating to '3,000.00 Million and an offer for sale of 2,30,76,923 equity shares aggregating to ' 3,000.00 Million by Yellow Stone Trust.

The Company also did private placement of 1,55,03,875 equity shares of face value of ' 2/- each at a price of ' 129/-per share (including a premium of ' 127/- per share) aggregating to ' 2,000.00 Million ("Pre-IPO Placement").

Total securities premium received from IPO and pre IPO placement was ' 4,922.84 Million and was reduced by the Company’s share of IPO related expenses of ' 156.99 Million which resulted into net receipt of securities premium of ' 4,765.85 Million.

Pursuant to the IPO, the equity shares of the Company got listed on BSE Limited and NSE Limited on March 25, 2021.

(c) Qualified Institutional Placement

On October 10, 2023, the Company had completed the Qualified Institutional Placement offer ("QIP") of 96,25,579 equity shares of face value of ' 2/- each at a price of ' 269.20/- per share (including a premium of ' 267.20/- per share) aggregating to ' 2,591.21 Million.

Total securities premium received from QIP placement was ' 2,571.95 Million and was reduced by the Company’s share of QIP related expenses of ' 105.37 Million which resulted into net receipt of securities premium of ' 2,485.82 Million.

(d) Terms / rights attached to equity shares

The Company has only one class of shares referred to as equity shares having par value of ' 2/- each. Holder of each equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(d) Amalgamation Adjustment Deficit Account

The difference between the carrying values of net identifiable assets and liabilities of transferee companies transferred to the Company pursuant to schemes of amalgamation and the value of investments in the books of the Company has been disclosed as Amalgamation Adjustment Deficit Account as per the provisions of Appendix C of Ind AS 103.

(e) Share based payment reserve:

This represents the fair value of the stock options granted by the Company under the 2020 Plan accumulated over the vesting period. The reserve will be utilised on exercise of the options.

(f) General Reserve:

General reserve is created from time to time by way of transfer of profits from retained earnings for appropriation purposes. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.

Description of nature and purpose of each reserve :

(a) Capital Reserve:

It represents the gains of capital nature which mainly include the excess of value of net assets acquired over consideration paid by the Company for business amalgamation transactions in earlier years.

(b) Capital Redemption Reserve:

This reserve was created for issue of bonus shares. The bonus shares were issued in Financial Year 2019-2020.

(c) Securities Premium:

Securities premium includes the premium received on issue of equity shares. It is utlised in accordance with the provisions of the Companies Act, 2013.

(a) (i) The Company availed Term Loan 1 from HDFC Bank amounting to ' 1,500 Million during the previous year. Out

of the sanctioned facility, ' 500 Million had been drawn down as at March 31,2025 and the remaining ' 1,000 Million was drawn on June 30, 2025. The interest rate on the facility is linked to the prevailing 3-month Repo Rate plus a spread of 2.00% per annum. The loan is repayable in 20 equal quarterly instalments starting from June 28, 2025 and ending on March 28, 2030.

(ii) During the current year, the Company availed Term Loan 2 from HDFC Bank amounting to ' 5,000 Million. Out

of the sanctioned facility, ' 4,000 Million had been drawn down as at March 31,2026. The interest rate on the facility is linked to the prevailing 3-month Repo Rate. The loan is repayable over a period of 7 years, including a moratorium period of 24 months, followed by repayment in 20 equal quarterly instalments starting from January 16, 2028 and ending on October 15, 2032.

(b) Security of term loans :

(i) Term loan of ' 1,500 Million is secured by exclusive charge on all present and future movable property, plant and equipment of the Company situated at Unit 1 and 2 Mahad Industrial Area, District Raigad.

(ii) Term loan of ' 5,000 Million is secured by exclusive charge on all present and future movable property, plant and equipment of the Company situated at Dahej Plant, District Bharuch.

(b) The Union Budget 2026-27 has proposed significant amendments to the minimum alternate tax (MAT) framework under the Income Tax Act, 2025. Under proposed transition provisions, the accumulated MAT credit as of March 31,2026 will be available for set-off only if the Company opts for tax regime under section 115BAA/115BAB (New Tax Regime), subject to annual utilisation cap of 25% of the tax liabilities.

During the current year, the Company in view of Tax Losses under old regime, has provided current tax under Minimum Alternate Tax. Based on the Company’s assessment of availability of future taxable profits and its intent to opt for the New Tax Regime due to these legislative changes mentioned above, the Company accounted for Tax under MAT of '165.09 Million with a credit of equivalent amount as MAT Credit for the year ended March 31,2026 and netted off in deferred tax expense for the current year.

(c) The Company has recognised net deferred tax asset on unabsorbed depreciation and unabsorbed losses considering that it is probable that future taxable profit will be available against which the unused tax losses can be utilised.

(b) The Company’s manufacturing facility at Mahad is eligible to receive incentive as a refund of State Goods and Services Tax (SGST) paid on sales of goods as per the Industrial Promotion Scheme under Package Scheme of Incentives -2019 (PSI—2019). During the current year, the Company, based on sanction letters received from the Directorate of Industries, Government of Maharashtra, towards GST incentives, has recognised ' 243.32 Million (March 31,2025: ' Nil) as Government Incentives (GST).

(c) The Company in the earlier periods had accrued for liabilities, related to arrears on account of wheeling losses, wheeling charges, transmission losses and transmission charges, levied by Maharashtra State Electricity Distribution Company Limited ("MSEDCL"). The Company has reversed these accrued liabilities of ' 407.27 Million in view of favourable order received by the Company from Maharashtra Electricity Regulatory Commission ("MERC") and adjustments in the electricity bills received in the current year.

(c) Other Litigations

(i) On February 24, 2026, Maharashtra State Electricity Distribution Company Limited ("MSEDCL") filed an appeal before the Hon’ble Appellate Tribunal for Electricity ("APTEL") for seeking interim direction and interim stay against Maharashtra Electricity Regulatory Commission ("MERC") order dated September 17, 2025 which was favourable to the Company, in respect of wheeling losses, wheeling charges, transmission losses and transmission charges. The appeal was heard on April 6, 2026, wherein the Hon’ble APTEL condoned the delay in filing the appeal by MSEDCL and no stay has been granted by the Hon’ble APTEL. Based on the facts and background, the management is confident that the outcome will be in favour of the Company.

(ii) The Senior Intelligence Officer, Directorate of Revenue Intelligence ("DRI") of the Bangalore Zonal Unit ("SIO") conducted a search at the Acetyl Intermediates ("AI") Mahad Manufacturing Facility on 11 February , 2021 (the "Search") on the grounds that the SIO had reason to believe that the Company was availing a lower rate of basic customs duty at the rate of 2.5% for importing denatured ethyl alcohol in terms of the forth in Entry number 107 of the Customs Notification No. 50/2017 ("Notification") and claimed that the Company was liable to pay 5% as basic customs duty instead while importing denatured ethyl alcohol. Pursuant to the Search, the Company, had paid an amount of ' 35.00 Million under protest. Prior to the Search, the Company on January 24, 2021 had also

filed a writ petition before the Hon'ble High Court of Bombay challenging the constitutionality of the use of the terms "excisable goods" as set forth in Entry 107 of the Notification and the requirements mandating importers of denatured ethyl alcohol to submit a provisional duty bond for availing an exemption under Entry 107 of the Notification. The matter is currently pending resolution at the Hon'ble High Court. There is no demand raised for this matter.

33. The Income Tax department conducted the survey under the Income Tax Act, 1961 at the registered office of the Company from August 09, 2024 till August 10, 2024. There has been no demand raised by the Income Tax department pursuant to the survey. Accordingly, there is no impact on the standalone financial statements of the Company for the year ended March 31,2026 and March 31,2025.

8 There are no CSR transactions with Related party

9 There is ' 0.40 Million amount unspent against other than ongoing project as per section 135 (5)

10 Unspent amount as per section 135(6) is paid since the balance sheet date :

Financial Year 2025-26: An amount of ' 1.90 Million was transferred to the Unspent CSR Account on April 15, 2026, in respect of an approved ongoing project. The entire unspent amount is proposed to be utilised towards the ongoing project MHAD MHU Phase II, in accordance with the project timeline. Further, an amount of ' 0.40 Million shall be transferred to a fund specified in Schedule VII to the Companies Act, 2013, within the prescribed timelines.

Financial Year 2024-25: An amount of ' 3.67 Million was transferred to the Unspent CSR Account on April 25, 2025, in respect of an approved ongoing project. During the year, an amount of ' 1.01 Million was utilised towards the approved project plan, and an unspent balance of ' 2.66 Million remains in the said account as of March 31,2026.

Financial Year 2022-23: An amount of ' 10.07 Million was transferred to the Unspent CSR Account on April 27, 2023, in respect of an approved ongoing project. The entire amount has since been fully utilised in accordance with the approved project plan, and no unspent balance remains in the said account as of March 31,2026.

Financial Year 2021-22: An amount of ' 10.77 Million was transferred to the Unspent CSR Account on March 31, 2022, in respect of an approved ongoing project. As on March 31,2025, an amount of ' 3.01 Million remained unspent, which was subsequently transferred to the Prime Minister's National Relief Fund (PMNRF) on April 29, 2025, in compliance with the provisions of the Companies Act, 2013.

Description of risk exposures

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit which are as follows:

(i) Interest rate risk:

The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability.

(ii) Liquidity risk:

This is the risk that the Company is not able to meet the short-term gratuity pay-outs. This may arise due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

(iii) Salary escalation risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan’s liability.

(iv) Demographic risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

(v) Regulatory risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity pay-outs (e.g. Increase in the maximum limit of gratuity of ' 2.00 Million)

(vi) Asset liability mismatching or market risk:

The duration of the liability is longer compared to duration of assets, exposing the Company to market risk for volatilities/fall in interest rate.

(vii) Investment risk:

The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.

(a) Employee Stock Option Plan 2020:

Pursuant to the resolutions passed by the Board on October 30, 2020 and by the shareholders on November 24, 2020, the Company has approved the Laxmi - Employee Stock Option Plan 2020 ("ESOP-2020") for issue of employee stock options ("ESOPs"). The primary objective of ESOP-2020 is to reward the employees and to retain and motivate the employees of the Company and its Subsidiaries, as the case may be, by way of rewarding their high performance and motivate them to contribute to the overall corporate growth and profitability.

The eligibility of the employees will be based on designation, period of service, performance linked parameters such as work performance and such other criteria as may be determined by the Nomination and Remuneration Committee at its sole discretion, from time to time.

Options granted under Plan shall vest not earlier than 1 (One) year and not later than maximum Vesting Period of 3 (three) years from the date of Grant.

During the year, no additional employee stock options were granted under Laxmi - Employee Stock Option Plan 2020 ("ESOP-2020").

(b) Employee Stock Option Plan 2024:

Pursuant to the resolutions passed by the Board on May 21, 2024 and by the shareholders on July 30, 2024, the Company has approved the Laxmi - Employee Stock Option Plan 2024 ("ESOP-2024") for issue of employee stock options ("ESOPs"). The primary objective of ESOP-2024 is to reward the employees and to retain and motivate the employees of the Company and its Subsidiaries, as the case may be, by way of rewarding their high performance and motivate them to contribute to the overall corporate growth and profitability.

The eligibility of the Employees will be based on designation, period of service, performance linked parameters such as work performance and such other criteria as may be determined by the Nomination and Remuneration Committee at its sole discretion, from time to time.

Options granted under Plan shall vest not earlier than 1 (One) year and not later than maximum Vesting Period of 5 (Five) years from the date of Grant.

During the year, 11,06,342 employee stock options were granted under Laxmi - Employee Stock Option Plan 2024 ("ESOP-2024").

This section explains the judgments and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and

(b) measured at amortised cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The Company is exposed to various financial risks arising from its underlying operations and financial activities. The Company is primarily exposed to market risk (i.e. interest rate and foreign currency risk), credit risk and liquidity risk. The Company’s treasury function plays the role of monitoring financial risk arising from business operations and financing activities.

Financial risk management, which includes foreign currency risk, interest rate risk, credit and liquidity risk are very closely monitored by the senior management, the Finance Committee and the Board of Directors. The Company has a Forex Risk Management policy under which all the forex hedging operations are done. The Company’s policies and guidelines also cover areas such as cash management, investment of excess funds and the raising of short and long term debt. Compliance with the policies and guidelines is managed by the Corporate Treasury function. The objective of financial risk management is to manage and control financial risk exposures within acceptable parameters, while optimising the return. The Company manages its market risk exposures by using specific type of financial instruments duly approved by the Board of Directors as and when deemed appropriate. The Company reviews and approves policies for managing each of the above risk.

(a) Market risk

Market risk is the risk arising out of the fluctuations in fair value of future cash flows of a financial instrument because of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk includes loans and borrowings, deposits, investments and derivative financial instruments. The Company enters into the derivative contracts as approved by the Board to manage its exposure to interest rate risk and foreign currency risk, from time to time.

(i) Foreign currency risk

Foreign currency risk also known as Exchange Currency Risk is the risk arising out of fluctuation in the fair value or future cash flows of an exposure because of changes in foreign exchange rates. Foreign currency risk in the Company is attributable to Company’s operating activities and financing activities. In the operating activities, the Company’s exchange rate risk primarily arises when revenue / costs are generated in a currency that is different from the reporting currency (transaction risk). The Company manages the exposure based on a duly approved policy by the Board, which is reviewed by Board of Directors on periodic basis. This foreign currency risk exposure of the Company is mainly in U.S. Dollar (USD), Euro (EUR) and Chinese Yuan Renminbi (CNY).

(c) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.

Trade Receivables

Trade receivables are typically unsecured and are derived from revenue earned from customer. Credit risk has always been managed by the Company 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. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables. The provision matrix takes into account a continuing credit evaluation of the Company’s customers’ financial condition; ageing of trade accounts receivable and the Company’s historical loss experience.

Financial Assets other than Trade Receivables

Credit risk from balances with banks and financial institutions is managed by the Company’s Corporate Treasury function in accordance with the Company’s policy. Investments of surplus funds are made only with counter parties who meet the parameters specified in the Investment Policy of the Company. The investment policy is reviewed by the Company’s Board of Directors on periodic basis and if required, the same may be updated during the year. The investment policy specifies the limits of the investment in various categories of products so as the minimise the concentration of risks and therefore mitigate financial loss due to counter party’s potential failure.

Incentive Receivable from Government

The Company has manufacturing units in Maharashtra and Gujarat which are eligible for incentives under the respective State Industrial Policies. The Company has accrued these incentives outstanding as on March 31,2026 amounting to ' 247.89 Million (net of discounting of ' 16.82 Million) (Previous year ' Nil). The Company estimates the time value based on the period when these incentives are ultimately expected to be realised. The Company is confident about the ultimate realisation of the dues from the State Government and there is no risk of default.

Foreign exchange derivative contracts

The Company enters into derivative contracts with an intention to hedge its foreign exchange price risk and interest risk. Derivative contracts which are linked to the underlying transactions are recognised in accordance with the contract terms. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of Profit & Loss.

(b) Interest rate risk

Interest rate risk arises from the movements in interest rates which could have effects on the Company’s net income or financial position. Changes in interest rates may cause variations in interest income and expenses resulting from interest-bearing assets and liabilities. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s borrowing obligations with floating interest rates.

The Company manages its interest rate risk by having an agreed portfolio of fixed and variable rate borrowings. Out of the total borrowings, the amount of floating interest loan is ' 5242.11 Million (March 31, 2025: ' 500.00 Million). With all the other variables remaining constant, the following table demonstrates the sensitivity to a reasonable change in interest rates on the borrowings:

(d) Liquidity risk

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The Company’s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses.

The Company maintained a cautious liquidity strategy, with a positive cash balance throughout the years ended March 31,2026 and March 31,2025. Cash flow from operating activities provides the funds to service the financial liabilities on a day-to-day basis. The Company regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-going basis to meet operational needs. Any short term surplus cash generated, over and above the amount required for working capital management and other operational requirements, is retained as cash and cash equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other highly marketable liquid debt investments with appropriate maturities to optimise the returns on investments while ensuring sufficient liquidity to meet its liabilities.

The Government of India has notified 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 ("Labour Codes") with effect from November 21,2025, which consolidates 29 existing labor laws. The Labour Codes, amongst other things introduce changes, including a uniform definition of wages and enhanced benefits relating to leave. The Ministry of Labour & Employment has issued draft Central Rules and FAQs to facilitate assessment of the financial impact arising from these regulatory changes. In accordance with the guidance issued by the Institute of Chartered Accountants of India and based on actuarial valuation, the Company has recognised ' 24.77 Million and ' 13.25 Million as Statutory Impact of New Labour Codes towards additional gratuity liability and compensated absences respectively, classified as past service cost, due to revised definition of wages under the Labour Codes and shown in note 26 "Employee benefits expenses" for the year ended March 31,2026.

The Company has no transactions with the Companies struck off under Companies Act, 2013 or Companies Act, 1956. The information about transactions with struck off companies has been determined to the extent such parties have been identified on the basis of the information available with the Company.

As per the MCA notification dated August 05, 2022, the Central Government has notified the Companies (Accounts) Fourth Amendment Rules, 2022. As per the amended rules, the companies are required to maintain back-up on daily basis of books of account and other relevant books and papers maintained in electronic mode that should be accessible in India at all the time. Also, the companies are required to create backup of books of account on servers physically located in India on a daily basis.

The books of account of the Company are maintained in electronic mode and these are readily accessible in India at all times. The Company is maintaining back-up of books of account on server physically located in India on daily basis.

Audit Trail

The Company has used SAP S4 HANA 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 are no instance of audit trail feature being tampered with. Additionally, the audit trail of prior year has been preserved as per the statutory requirements for record retention.

There are no subsequent events after the year ended March 31,2026 till the date of signing of this standalone financial statements.

(a) The Company does not have any Benami property, where any proceedings have been initiated or pending against the Company for holding any Benami property.

(b) The Company do not have any charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.

(c) The Company has not been declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or any other lender or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

(d) The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

(e) Utilisation of Borrowed funds and share premium:

I The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) 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

II The Company has not received any fund from any person(s) or entity(is), 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 on behalf of the Ultimate Beneficiaries.

(f) 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.

51. The Standalone Financial Statements were authorised for issue in accordance with a resolution of the Board of Directors in its meeting held on May 21,2026.

52. Previous year’s figures have been regrouped / reclassified wherever necessary.