Disclosure as per Para 75 (g) under Ind AS - 40 "Investment Property"

The Company has no restrictions on the reaMsability of its investment properties and no contractual obligations to purchase, construct or develop investment properties or for repairs, maintenance and enhancements on such properties.

(iii) Estimation of fair value

(a) The fair valuation is based on current prices in the active market for similar properties. The main inputs used are quantum, area, location, demand, age of building and trend of fair market rent, ready reckoner rate etc.

(b) This fair value of investment property have been determined by an independent registered valuer as defined under rule 2 of Companies (Registered Valuers and Valuation) Rules 2017, who has professional experience as well as adequate expertise of the location and category of the investment property.

(iv) Maturity analysis - Company as a lessor

The Company has given its premises on operating leases. These lease arrangements range for a period between 12 months to 5 years and include both cancellable and non - cancellable leases. Most of the leases are renewable for further period on mutually agreeable terms and also include escalation clauses.

Equity instruments designated at fair value through other comprehensive income include investments in equity shares of both listed and non-listed companies. These investments were irrevocably designated at fair value through OCI as the Company considers these investments to be strategic in nature. Further, the Company did not de-recognise equity investment classified as FVOCI during the year ended 31 March 2026 and 31 March 2025. Dividend was distributed by the investee during the year ended 31 March 2026 - ^ 17 lakhs (31 March 2025: ^ 13 lakhs).

(#) During the year the Company had invested in equity shares of Amplus Ampere Private Limited as required under captive consumer regulations. These shares are non-tradable and are mandatorily redeemable at face value upon expiry of the Power Purchase Agreement. The investment is held solely to obtain reduced electricity tariffs and regulatory benefits, and does not expose the Company to equity risk or variable returns. Accordingly, based on the substance of the arrangement, this investment is classified as a financial asset measured at amortised cost.

(i) Includes receivables amounting ' 4 lakhs (31 March 2025 - ' 4 lakhs) from private company where director of the Company is also a director.

(ii) Includes receivables amounting ' 82 lakhs (31 March 2025 - ' Nil lakhs) from related parties on account of guarantee commission. Refer note 46(ii).

(iii) No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other person.

(iv) The outstanding balances as at 31 March 2026 includes trade receivables amounting to ' 2,182 lakhs (31 March 2025: ' 2,127 lakhs) from customers situated outside India. These balances are pending for settlement / adjustments and have resulted in delays in remittance of receipts of receivables, beyond the timeline stipulated by the FED Master Direction No. 16/2015-16, as amended, under the Foreign Exchange Management Act, 1999. The Company is in the process of recovering these outstanding dues however, wherever required, provision has been made in the books of account. The Company is also in the process of regularising these defaults with the appropriate authority. Pending conclusion of the aforesaid matter, the amount of penalty, if any, that may be levied, is not ascertainable. However, management believes that the exposure is not expected to be material. Accordingly, the accompanying standalone financial statements do not include any consequential adjustments that may arise due to such delay.

(v) Trade receivables are non interest bearing and are generally on credit terms in line with respective industry norms i.e. in between 30 to 180 days.

(vi) No loans or other receivable are due from directors or other officers of the Company either severally or jointly with any other person.

(vii) Refer note 43 for information about credit risk and market risk of trade receivables.

(viii) The company has written off trade receivables amounting to ' 87 lakhs (31 March 2025 - ' 248 lakhs) and it does not expect to receive future cash flows or recoveries from trade receivables previously written off. Also refer Note 43(a)

(ix) Refer note 25 and note 47 for information about assets pledged as security for current borrowings.

(ii) Terms and rights attached to equity shares

a) Right to receive dividend as may be approved by the Board / Annual General Meeting. The Company declares and pays dividend in Indian Rupee. Further, dividend proposed by the Board of Directors is subject to approval of shareholders in the Annual General Meeting (refer note 44(iii)).

b) The equity shares are not repayable except in the case of a buy back, reduction of capital or winding up in terms of the provisions of the Companies Act, 2013.

c) Every member of the Company holding equity shares has a right to attend the General Meeting of the Company and has a right to speak and vote on a show of hands, has one vote if he is present in person and on a poll shall have the right to vote in proportion to his share of the paid-up capital of the Company.

d) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive assets of the Company remaining after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(iv) All amounts are short-term. The carrying values of trade payables are considered to be a reasonable approximation of fair value.

(v) The outstanding balances as at 31 March 2026 includes trade payables amounting to ' Nil (31 March 2025: ' 301 lakhs), from vendors situated outside India. These balances are pending for settlement / adjustments and have resulted in delays in payments of payables, beyond the timeline stipulated by the FED Master Direction No. 17/ 2016-17, under the Foreign Exchange Management Act, 1999. The Company is in the process of making the payment for outstanding payables. The Company is also in the process of regularising these defaults with the appropriate authority. Pending conclusion of the aforesaid matter, the amount of penalty, if any, that may be levied, is not ascertainable. However, management believes that the exposure is not expected to be material. Accordingly, the standalone financial statements do not include any consequential adjustments that may arise due to such delay.

(i) A fire incident had occurred at one of the Company's plant situated at Waluj, Aurangabad on 08 May 2023, wherein the Company had made an assessment of loss amounting to ' 2,076 lakhs with respect to the damage caused to inventories, plant and equipments and other accessories, buildings, and other civil structures. The Company believes it has adequate insurance coverage to cover these losses.

During the year ended 31 March 2025, the Insurance Company had disbursed a total amount of ' 750 lakhs as an interim payment against plant and equipments and other accessories, buildings and other civil structures, which was classified as an exceptional gain for the year ended 31 March 2025.

Additionally, the management of the Company had filed a claim with the surveyor to recover operational losses caused due to fire, wherein, the Insurance Company had disbursed ' 621 lakhs during the year ended 31 March 2026, which is classified as an exceptional gain for the year ended 31 March 2026 thereon.

(ii) The Committee of Directors, at its meeting held on 20 January 2025, approved an Inter Company Agreement ('Agreement') between the Company and NRB Industrial Bearings Limited (NIBL), a related party, formalising terms arising from the scheme of demerger dated 24 August 2012. Under this Agreement, NIBL may continue using the marks "NRB Industrial" and "NRB Industrial Bearings" strictly in the specific red-coloured stylization, font and pattern as specified in the demerger scheme and the Agreement with the related restrictions at all time and with usage rights immediately ceasing upon any change of control at NIBL. NIBL is also required to relinquish and vacate the Company's immovable property at Dhannur, Fort, Mumbai, including shifting its registered office, and both entities agreed to mutual non solicitation of employees.

Separately, the Company had also received an intimation of a proposed realignment of shares within the "Promoter / Promoter Group" as contemplated under the Memorandum Recording Family Settlement dated 20 January 2025 that would result in the realignment of shares held in the Company and a realignment of the beneficial interest in the Trilochan Singh Sahney Trust 1 which holds shares in the Company. Such change is not expected to have any impact on the statement of the Company for the current period or the subsequent period in which such transactions would be executed.

The Company had made a payment to NIBL of ' 5,512 lakhs on 14 February 2025, upon completion of conditions precedent as specified in the Agreement, which was classified as an exceptional item for the year ended 31 March 2025.

(iii) Effective 21 November 2025, the Government of India has consolidated multiple existing labour legislations into unified framework comprising of 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. As per the evaluation done by the Company on the basis of the information and guidance available as on date, the Company had recorded the 'statutory impact' due to the change in definition of wages as per the new labour code of ' 1,018 lakhs on account of gratuity and ' 306 lakhs on account of the long-term compensated absences under exceptional items for the year ended 31 March 2026.

(iv) During the year ended 31 March 2025, the Company had reversed the input tax credit amounting to ' 394 lakhs and ' 33 lakhs on account of loss of inventories due to fire and brokerage paid for sale of land and building at Thane respectively. These credits have been reversed under section 16 of the CGST Act, 2017 from the available balances in the electronic credit ledger while filing the Goods and Services Tax (GST) annual return for the financial year 2023-24, which are classified as an exceptional loss for the year ended 31 March 2025.

I. Fair value hierarchy -

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

This section explains the judgements 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 standalone 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 below.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities included in level 3.

During the periods mentioned above, there have been no transfers amongst the levels of hierarchy.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

(i) The fair values for investments in equity instrument and mutual fund are based on the quoted market prices. Fair values of security deposits, loans are based on discounted cash flows using a discount rate determined considering Company's incremental borrowing rate.

(ii) Fair valuation of interest rate swap and foreign currency option contracts are calculated on the basis of estimated mid-market levels, estimated bid-side or offer side levels, or on the basis of indicative bid or offer or unwind prices or on such other appropriate basis. It is derived from other proprietary or other pricing models based on certain assumptions.

(iii) Fair valuation of forward exchange contracts are determined using forward exchange rates at the balance sheet date.

(iv) The carrying value of trade receivables, cash and cash equivalents, bank balance other than cash and cash equivalents, loans, other current financial assets, borrowings, lease liabilities, trade payables, other current financial labilities are considered to be approximately equal to the fair value and hence they have not been disclosed under tables above.

III. Valuation process

The finance department performs the calculations of financial assets and liabilities required for financial reporting purposes. This team reports directly to the chief financial officer (CFO). Discussions of valuation processes and results are held between the CFO and the finance team at least once every three months, in line with the quarterly reporting periods.

43 Financial risk management

The Company's principal financial liabilities comprise borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial assets include loans, trade and other receivables, investments and cash and cash equivalents that derive directly from its operations.

The Company is exposed to credit risk, liquidity risk and market risk. The Company's senior management oversees the management of these risks.

(a) Credit risk

The Company is exposed to credit risk from its operating activities (primarily for trade receivables) and from its financing activities (loans, deposits with banks and other financial instruments).

Credit risk managementTrade receivables

To manage credit risk, the Company follows a credit policy based on industry norms. The credit limit policy is established considering the current economic trends of the industry in which the company is operating. However, the trade receivables are monitored on a periodic basis for assessing any significant risk of non-recoverability of dues and provision is created accordingly.

Other financial assets

The Company periodically monitors the recoverability and credit risks of its other financial assets. The Company evaluates 12 months expected credit losses for all the financial assets for which credit risk has not increased significantly. In case credit risk has increased significantly, the Company considers life time expected credit losses for the purpose of impairment provisioning.

The Company has considered financial condition, current economic trends, forward looking macroeconomic information, analysis of historical bad or doubtful receivables and ageing of receivables related to cash and cash equivalents, bank balances and other financial assets. In most of the cases, risk is considered low since the counterparties are reputed organisations with no history of default to the Company and no unfavourable forward looking macro economic factors. Wherever applicable, expected credit loss allowance is recorded.

(b) 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 a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - borrowings, trade payables and other financial liabilities.

Liquidity risk management

The Company's corporate finance department is responsible for liquidity and 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 forecasts on the basis of expected cash flows.

The table below summarises the maturity profile of the Company's financial liabilities based on contractual undiscounted payments (except lease liabilities) at each reporting date:

The amounts included in the above table for financial guarantee contracts are the maximum amount the Company could be forced to settle under the arrangement for the full guaranteed amount if that amount is claimed by the counterparty to the guarantee. Based on expectations at the end of the respective reporting periods, the Company considers that it is more likely than not that no amount will be payable under the arrangement.

(c) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: Foreign currency risk, interest rate risk and price risk.

(1) Foreign currency risk

The Company is exposed to foreign exchange risk on their receivables, payables which are held in USD, EUR, THB, CHF and JPY. The Company's exposure arises mainly on import of raw material and capital items and export of finished goods. The Company follows a policy of matching of import and export exposures (natural hedge) to reduce the net exposure in any foreign currency. Whenever the natural hedge is not available or is not fully covering the foreign currency exposure of the Company, management uses certain derivative instruments to manage its exposure to the foreign currency risk. Foreign currency transactions are managed within approved policy parameters. The Company uses forward contracts, options and cross currency swap to hedge its exposure to foreign currency risk. The Company had designated certain derivatives as hedging instruments in respect of foreign currency risk as cash flow hedges. These hedging instruments have expired during the year ended 31 March 2026.

Hedge ineffectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The economic relationship and hedge effectiveness are based on the qualitative factors and the use of a hypothetical derivative where appropriate.

The Company had established a hedge ratio of 1:1 for the hedging relationships as the underlying risk and notional amount of the hedging instruments were identical to the hedged items.

44 Capital management(i) Risk management

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to its shareholders.

The capital structure of the Company is based on management's judgement of the appropriate balance of key elements in order to meet its strategic and day-to-day needs. Management considers the amount of capital in proportion to risk and manages the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

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

(v) Salaries and employer benefits

The KMP's are covered under the Company's gratuity policy, leave encashment policy and bonus policy along with other eligible employees of the Company. Proportionate amount of gratuity and compensated absences expenses and provision for gratuity and compensated absences, which are determined actuarially are not mentioned in the aforementioned disclosures as these are computed for the Company as a whole.

Notes -

(i) The Company is contesting all of the above demands in respect of income tax, sales tax, value added tax and local body tax and the management believes that its positions are likely to be upheld at the appellate stage. No expense has been accrued in the standalone financial statements for the aforesaid demands. The management believes that the ultimate outcome of these proceedings are not expected to have a material adverse effect on the Company's financial position and results of operations and hence no provision has been made in this regard.

(ii) The above disclosure has been made on the basis of information available with the Company.

(iii) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings.

(iv) The amounts disclosed above represent the best possible estimates arrived at on the basis of the available information and do not include any penalty payable.

The present value of the defined benefit obligation calculated with the same method (projected unit credit) as the defined benefit obligation recognised in the standalone balance sheet. The sensitivity analysis is based on a change in one assumption while not changing any other assumptions. This analysis may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in the assumptions would occur in isolation of one another since some of the assumptions may be co-related.

(xii) General descriptions of significant defined plans

The Company operates gratuity plan wherein every employee is entitled to the benefit as per scheme of the Company, for each completed year of service. The same is payable on retirement or termination whichever is earlier. The benefit vests only after five years of continuous service. The scheme is funded with an insurance company in the form of qualifying insurance policy.

54 Disclosure for struck off companies

The Company does not have any transactions and outstanding balances for the current year and previous year with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

55 Other regulatory information

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property as at 31 March 2026 and 31 March 2025.

(ii) The Company has not traded or invested in Crypto currency or Virtual currency for the year ended 31 March 2026 and 31 March 2025.

(iii) The Company has not received any fund from any person(s) or entity(ies) for the year ended 31 March 2026 and 31 March 2025, including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(iv) The Company has not made any such transaction which is not recorded in the books of account that has been surrendered or disclosed as income for the year ended 31 March 2026 and 31 March 2025 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).

(v) The Company has not been declared a wilful defaulter by any bank for the year ended 31 March 2026 and 31 March 2025.

(vi) The Company has sanctioned borrowings / facilities from bank on the basis of security of current assets for the year ended 31 March 2026 and 31 March 2025. The monthly returns or statements of current assets filed by the Company with bank are in agreement with the books of account.

(vii) The Company has complied with the number of layers prescribed under section 2(87) of the Act for the year ended 31 March 2026 and 31 March 2025.

(viii) The Company has not entered into any scheme of arrangement in terms of section 230 to 237 of the Act for the year ended 31 March 2026 and 31 March 2025.

(ix) During the current year, the Company has paid ^ 700 lakhs (31 March 2025: ^ Nil) towards loan to Mahant Tool Room Private Limited (MTRPL), a wholly owned subsidiary. This loan was provided with an understanding that MTRPL will subsequently invest in or advance these funds to M/s Mahant Tool Room (MTR), pursuant to the Business Transfer Agreement dated 10 January 2026 between MTRPL and MTR. In lines with this, MTRPL has advanced ^ 700 lakhs (31 March 2025: ^ Nil) to MTR during the current year. Except as disclosed above, the Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) to any other person or entity, including foreign entity ('Intermediaries') with the understanding (whether recorded in writing or otherwise) 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 of the Company ('Ultimate Beneficiaries'), or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(x) There are no charges which are yet to be registered with the ROC beyond the statutory period as at 31 March 2026 and 31 March 2025.

(xi) The Ministry of Corporate Affairs (MCA) has prescribed a requirement for companies under the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 inserted by the Companies (Accounts) Amendment Rules, 2021 requiring companies,whichusesaccountingsoftwareformaintainingitsbooksofaccount,shalluseonlysuchaccountingsoftware which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled. The audit trail has been preserved by the Company as per the statutory requirements for record retention. The Company has used accounting software for maintaining its books of account which has a feature of audit trail (edit log) facility and the same was enabled at the application level. During the year ended 31 March 2026, the Company has not enabled the feature of recording audit trail (edit log) at the database level for the said accounting software to log any direct data changes

(xii) There are no subsequent events which warrants adjustment or disclosure in the standalone financial statements. 56 Segment reporting

In accordance with Ind AS 108 - 'Operating Segment', the Company has opted to present segment information as a part of the consolidated financial statements of the Company and its subsidiaries. Therefore, no separate disclosure on segment information is given in these standalone financial statements.

58 Previous year comparatives

The figures for previous year have been regrouped/recast/rearranged to render them comparable with the figures of the current year, which are not considered 'material to these standalone financial statements.

59 Authorisation of standalone financial statements

The standalone financial statements as at and for the year ended 31 March 2026 were approved by the Board of Directors on 07 May 2026.

This is the summary of material accounting policies and other explanatory information referred to in our audit report of even date