1.2.16PROVISIONS AND CONTINGENCIES

The Company creates a provision when there exists a present
obligation as a result of a past event that probably requires
an outflow of resources and a reliable estimate can be made
of the amount of the obligation.

A disclosure for a contingent liability is made when there is
a possible obligation or a present obligation that may but
probably will not require an outflow of resources.

When there is a possible obligation or a present obligation in
respect of which likelihood of outflow of resources is remote
no provision or disclosure is made.

The expenses relating to a provision is presented in the
Statement of Profit & Loss net of any reimbursement.

1.2.17TAXATIONCurrent Income Tax

Current income tax assets and liabilities are measured at the
amount expected to be recovered from or paid to the taxation
authorities. The tax rates and tax laws used to compute the
amount are those that are enacted or substantively enacted
at the reporting date in the countries where the Company
operates and generates taxable income.

Current income tax relating to items recognised outside
profit or loss is recognised outside profit or loss (either in
other comprehensive income or in equity). Current tax items
are recognised in correlation to the underlying transaction
either in Other Comprehensive Income (OCI) or directly
in equity. Management periodically evaluates positions
taken in the tax returns with respect to situations in which
applicable tax regulations are subject to interpretation and
establishes provisions where appropriate.

The Company has adopted and effected the reduced
corporate tax rate permitted under section 115BAA of the
Income Tax Act, 1961 as per the Taxation Laws (Amendment)
Ordinance, 2019. The tax calculations for the year ended 31^st
March 2026 have been made accordingly.

Deferred Tax

Deferred tax is recognised on temporary differences
between the carrying amounts of assets and liabilities in the
Standalone Financial Statements and the corresponding tax
bases used in the computation of taxable profit.

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

Deferred tax liabilities and assets are measured at the tax
rates that are expected to apply in the period in which the
liability is settled or the asset realised based on tax rates (and
tax laws) that have been enacted or substantively enacted
by the end of the reporting period. The carrying amount of
Deferred tax liabilities and assets are reviewed at the end of
each reporting period.

1.2.18FINANCIAL INSTRUMENTS

A financial instrument is any contract that gives rise to a
financial asset of one entity and a financial liability or equity
instrument of another entity.

Financial AssetsInitial Recognition and Measurement

All financial assets are initially recognised at fair value.
Transaction costs that are directly attributable to the
acquisition or issue of financial assets, which are not at fair
value through profit or loss, are adjusted to the fair value on
initial recognition. Purchases or sales of financial assets that
require delivery of assets within a time frame established by
regulation or convention in the marketplace (regular way
trades) are recognised on the trade date i.e. the date that the
Company commits to purchase or sell the asset.

However, Trade Receivables that do not contain significant
financing components are measured at transaction price.

Subsequent Measurement

For purposes of subsequent measurement financial assets
are classified in four categories

(i) Debt instruments at amortised cost

(ii) Debt instruments at fair value through other
comprehensive income (FVTOCI)

(iii) Debt instruments derivatives and equity instruments at
fair value through profit or loss (FVTPL)

(iv) Equity instruments measured at fair value through
other comprehensive income (FVTOCI)

Debt Instruments at Amortised Cost

A debt instrument' is measured at the amortised cost if both
the following conditions are met

a) The asset is held within a business model whose
objective is to hold assets for collecting contractual
cash flows and

b) Contractual terms of the asset give rise on specified
dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount
outstanding. This category is the most relevant to the
Company. After initial measurement such financial
assets are subsequently measured at amortised cost
using the Effective Interest Rate (EIR) method.

Equity Investments

All equity investments in scope of Ind AS 109 are measured
at fair value. Equity instruments which are held for trading
and contingent consideration recognised by an acquirer
in a business combination to which Ind AS 103 applies are
classified as at FVTPL. For all other equity instruments the
Company may make an irrevocable election to present in
other comprehensive income subsequent changes in the fair
value. The Company makes such election on an instrument
by - instrument basis. The classification is made on initial
recognition and is irrevocable.

If the Company decides to classify an equity instrument
as at FVTOCI then all fair value changes on the instrument
excluding dividends are recognised in the OCI. There is no
recycling of the amounts from OCI to P&L even on sale
of investment. However, the Company may transfer the
cumulative gain or loss within equity.

Derecognition

A financial asset (or where applicable a part of a financial
asset or part of a group of similar financial assets) is primarily
derecognised when

(i) The rights to receive cash flows from the asset have
expired or

(ii) The Company has transferred its rights to receive cash
flows from the asset or has assumed an obligation to pay
the received cash flows in full without material delay to
a third party under a 'pass-through' arrangement; and
either

(a) The Company has transferred substantially all the
risks and rewards of the asset or

(b) The Company has neither transferred nor retained
substantially all the risks and rewards of the asset
but has transferred control of the asset.

Impairment of Financial Assets

In accordance with Ind AS 109 the Company uses expected
credit loss model for evaluating impairment of financial
assets other than those measured at sale value through
profit and loss. Expected credit losses are measured through
a loss allowance at an amount equal to

- The twelve months expected credit losses (expected
credit losses that result from those default events on
the financial instrument but are possible within twelve
months after the reporting date) or

- Full lifetime expected credit losses (expected credit
losses that result from those default events over the life
of the financial instrument).

For trade receivables the Company applies a simplified
approach which requires expected lifetime losses to be
recognised from initial recognition of the receivables at every
reporting date the existing trade receivables are reviewed
and accordingly the required credit loss is recognised in
books.

For other assets (other than trade receivables) the Company
uses twelve months expected credit loss to provide for
impairment loss where there is no significant increase in
credit risk. If there is a significant increase in credit risk full life
time expected credit loss is used.

Financial LiabilitiesInitial Recognition and Measurement

Financial liabilities are classified at initial recognition as
financial liabilities at fair value through profit or loss loans
and borrowings payables or as derivatives designated as
hedging instruments in an effective hedge as appropriate.

All financial liabilities are recognised initially at fair value and
in the case of loans and borrowings and payables net of
directly attributable transaction costs.

The Company's financial liabilities include trade and other
payables loans and borrowings including bank overdrafts
financial guarantee contracts and derivative financial
instruments.

Subsequent Measurement

The measurement of financial liabilities depends on their
classification as described below

Loans and Borrowings

This is the category most relevant to the Company. After
initial recognition interest-bearing loans and borrowings are
subsequently measured at amortised cost using the Effective
Interest Rate (EIR) method. Gains and losses are recognised in
profit or loss when the liabilities are derecognised as well as
through the EIR amortisation process.

Amortised cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are
an integral part of the EIR. The EIR amortisation is included as
finance costs in the statement of profit and loss.

Derecognition

A financial liability is derecognised when the obligation
under the liability is discharged or cancelled or expires. When
an existing financial liability is replaced by another from the
same lender on substantially different terms or the terms
of an existing liability are substantially modified such an
exchange or modification is treated as the derecognition of
the original liability and the recognition of a new liability. The
difference in the respective carrying amounts is recognised
in the statement of profit or loss.

Derivative Financial Instrument and Hedge Accounting

The Company uses derivative financial instruments such as
forward exchange contracts and interest rate risk exposures
to hedge its risk associated with foreign currency fluctuations
and changes in interest rates.

In the ordinary course of business, the Company uses
certain derivative financial instruments to reduce business
risks which arise from its exposure to foreign exchange
relating to Imports and Exports. The instruments are
confined principally to forward foreign exchange contracts
and options stratagies. The instruments are employed as
hedges of transactions included in the financial statements

or for highly probable forecast transactions/firm contractual
commitments. These derivatives contracts do not generally
extend beyond twelve months.

Derivative financial instruments are initially recognised at
fair value on the date of the contract and are subsequently
remeasured at fair value at each reporting date
Derivatives are recognised as financial assets or liabilities
based on their fair value.

The mark-to-market (MTM) gains or losses on derivatives
are recognised in the Statement of Profit and Loss at each
reporting date, except where hedge accounting is applied.
The Company designates certain derivatives as hedging
instruments in cash flow hedges and fair value hedges.
Hedge relationships are formally documented at inception
and effectiveness is assessed on an ongoing basis.

Cash Flow Hedge

The effective portion of changes in fair value is recognised in
Other Comprehensive Income and accumulated in equity.
The ineffective portion is recognised in the Statement of Profit
and Loss. Amounts accumulated in equity are reclassified to
profit or loss when the hedged item affects profit or loss.

Fair Value Hedge

Changes in fair value of both the hedging instrument and the
hedged item attributable to the hedged risk are recognised
in the Statement of Profit and Loss.

Derivatives not Designed as hedges

These are measured at fair value through profit or loss, with
all changes in fair value recognised in the Statement of Profit
and Loss

Hedge accounting is discontinued when the hedging
relationship ceases to qualify, and the accounting treatment
thereafter follows Ind AS 109.

Fair Value Measurement

Fair value is the price 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 regardless of
whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of
an asset or a liability The Company takes into account the
characteristics of the asset or liability if market participants
would take those characteristics into account when pricing
the asset or liability at the measurement date. Fair value for
measurement and / or disclosure purposes in these standalone
financial statements is determined on such basis except for
measurements that have some similarities to fair value but are
not fair value such as net realisable value in Ind AS 2.

Levels of Risk in Fair Value Measurement
Level 1 - The fair value of financial instruments quoted in
active markets is based on their quoted closing price at the
balance sheet date.

Level 2 - The fair value of financial instruments that are not
traded in an active market is determined by using valuation
techniques using observable market data. Such valuation
techniques include discounted cash flows, standard
valuation models based on market parameters for interest
rates, yield curves or foreign exchange rates, dealer quotes
for similar instruments and use of comparable arm's length
transactions.

Level 3 - The fair value of financial instruments that are
measured on the basis of entity specific valuations using
inputs that are not based on observable market data
(unobservable inputs).

1.2.19EXCEPTIONAL ITEM

Exceptional items are disclosed separately in the standalone
financial statements where it is necessary to do so to provide
further understanding of the financial performance of the
Company. These are material items of income or expense
that have to be shown separately due to their nature or
incidence.

1.2.20GOVERNMENT GRANT

Government grants including any non-monetary grants
are recognised where there is reasonable assurance that
the grant will be received, and all attached conditions will
be compiled with. Government grants are recognised in
the statement of profit and loss on a systematic basis over
the periods in which the related costs, which the grants
are intended to compensate, are recognised as expenses.
Government grants related to property, plant and equipment
are presented at fair value and grants are recognised as
deferred income.

Grants from government authorities relating to income are
recognised in the profit or loss as other Income when the
reasonable assurance is established as per the terms of the
Scheme.

1.2.21RECENT ACCOUNGING PRONOUNCEMENT

Ministry of Corporate Affairs ("MCA") has notified amendments
to the existing standards Ind AS 1 - Presentation of financial
statements relating to classification of liabilities as current
or non-current subject to covenants, Ind AS 12 - Income
Taxes relating to international tax reforms - Pillar Two Model
Rules, Ind AS 21 - the effect of changes in foreign exchange
rates and Ind AS 107 - Financial Instruments: Disclosures
applicable from 1^st April 2025. The Company has assessed
that there is no significant impact on its financial statements
with respect to the amendments in Ind AS 1, Ind AS 21
and Ind AS 12. The Company has evaluated and provided
disclosure with respect to supplier financing arrangements
in note no.25.7 (B).

The Company has deposited ' 2.89 lakhs (Previous year ' 184.62 lakhs) towards Income tax liabilities which are classified under
"Income tax paid under protest" and deposited ' 25.28 lakhs (Previous year ' 25.28 lakhs towards GST liabilities which are classified
under "Central Excise, Sales tax, GST etc." under Other Current Assets.

25.3 Capital Management

The Company's Capital management is intended to create value for shareholders by facilitating the achievement of long-term and
short-term goals of the Company.

The Company determines the amount of capital required based on an annual business plan coupled with long-term and short-term
strategic investment and expansion plans. The funding needs are met through equity, cash generated from operations, long-term and
short-term bank borrowings.

The Company monitors the capital structure based on net debt to equity ratio and maturity profile of the overall debt portfolio of the
Company.

Net debt includes interest bearing borrowings excluding lease obligations, less cash and cash equivalents, other bank balances
(including non-current earmarked balances) and current investments.

The table below summarises the capital, net debt, and net debt to equity ratio of the Company.

Based on actuarial valuation, the Company recognised an incremental gratuity expense of ' 0.14 lakhs as past service cost under
the head Employee benefit expenses during the financial year ended 31^st March 2026. The impact of the change is not material.
The Company shall evaluate further impact, if any, on the measurement of employee benefits and would provide appropriate
accounting treatment as and when the relevant rules are notified by the Government.

C) Employee share-based payment plans

The Company has established the Pitti ESOP Scheme 2024, which was approved by the shareholders through a Special
Resolution dated 13^th June 2024. The objective of the scheme is to reward and motivate employees for their performance,
enhance their contribution to the growth and profitability of the Company, and promote long-term talent retention. The scheme
is administered through the Pitti Engineering Limited Employee Welfare Trust, which has been set up specifically for this purpose.
Under the Pitti ESOP Scheme 2024, the Nomination and Remuneration Committee has been authorised to grant up to 13,00,000
stock options to eligible employees, in one or more tranches, each option conferring a right to apply for one fully paid-up
equity share of the Company having a face value of ' 5/-. The total number of options that may be granted to any individual
employee during the tenure of the scheme shall not exceed 2,00,000 options, in accordance with applicable laws and regulatory
requirements.

I n accordance with the terms of the scheme, the minimum vesting period of an option shall not be less than 12 months from
the date of grant, or such other period as prescribed under the Companies Act, 2013 and SEBI (Share Based Employee Benefits
and Sweat Equity) Regulations. A minimum of 25%, and up to a maximum of 50%, of the granted options shall vest based on the
satisfactory performance of the option grantee, as determined by the Nomination and Remuneration Committee at the time of
grant. The remaining options shall vest over a period of 8 years from the date of grant, with a cliff period of 2 years. The vested
options may be exercised by the grantee from the date of vesting up to a period of 5 years from the vesting of the final tranche.
Pursuant to the scheme, the Nomination and Remuneration Committee granted 7,47,500 stock options to eligible employees of
Pitti Engineering Limited on 13^th March 2025, at an exercise price of ' 736.72 per option. In addition, 17,500 options were granted
to employees of Pitti Industries Private Limited (PIPL) and 22,500 options to employees of Dakshin Foundry Private Limited
(DFPL) on the same date and at the same exercise price.

The eligible employees of the Company receive remuneration in the form of share-based payments in consideration of the
services rendered. Under the equity settled share-based payment, the fair value of the options is determined on the grant date
and is recognised as employee benefit expenses over the vesting period with a corresponding increase in equity. The fair value
of the options at the grant date is determined by an independent valuer using the Black Scholes valuation model. At the end of
each reporting period, apart from the non-market vesting conditions, the expense is reviewed and adjusted to reflect changes
to the level of options expected to vest.

The expenditure recognised under the Scheme for the year ended 31^st March 2026 is ' 972.27 lakhs (Previous Year ' 55.54 lakhs).

25.5 Disclosure as per Section 186 of the Companies Act, 2013

The details of loans guarantees and investments under Section 186 of the Companies Act, 2013 read with the Companies (Meetings
of Board and its Powers) Rules, 2014 are as follows

(i) Details of investment & loans are given in Note 3A,3B,6E & 25.8

(ii) There are no guarantees issued by the Company in accordance with section 186 of the Companies Act, 2013 read with rules
issued there under

25.6 Segment Reporting

Segments are identified in line with Indian Accounting Standards (Ind AS) 108 "Operating Segments", taking into consideration the
internal organisation and management structure.

Operating Segments are components of the Group whose operating results are regularly reviewed by the Chief Operating Decision
Maker (CODM) to make decisions about resources to be allocated to the segment and assesses its performance and for which discreet
information is available.

The operating segment of the Group is identified to be manufacturing of "Engineering Products of Iron and Steel" and the CODM
reviews business performance at an overall Group level as one segment. Hence no separate disclosure is provided.

Information by Geographies

I n presenting geographic information, segment revenue has been based on the location of the customer and segment assets are
based on geographical location of assets.

c) Revenue from Major Customers

Details of single external customer from whom the Group receives more than 10% of the revenue

Revenue from three customers of the Company, having more than 10% of the total revenue aggregating to ' 64,746.24 lakhs
(previous year two customers ' 68,792.97 lakhs).

(B) Financial Risk Management

The Company has exposure to the following risk

(i) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations leading to a financial loss. The Company is exposed to
credit risk arising from its operating (primarily trade receivables) and investing activities including deposits placed with
banks, financial institutions and other corporate deposits. The Company establishes an allowance for impairment that
represents its estimate of expected losses in respect of financial assets. Financial assets are classified into performing,
under-performing and non-performing. All financial assets are initially considered performing and evaluated periodically
for expected credit loss. A default on a financial asset is when there is a significant increase in the credit risk which is
evaluated based on the business environment. The assets are written off when the Company is certain about the non¬
recovery.

(ii) Liquidity Risk

Liquidity risk is the risk that the Company may encounter difficulty in meeting its obligations. The Company's approach is to
ensure that it has sufficient liquidity or borrowing headroom to meet its obligations at all point in time. The Company has
sufficient short term fund based lines, which provides healthy liquidity and these carry highest credit quality rating from
reputed credit rating agency.

The table below analyses financial liabilities of the Company into relevant maturity groupings based on the remaining
period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual
undiscounted cash flows.

(iii) Market Risk

Market risk is the risk that the fair value of the future cash flows will fluctuate because of changes in the market prices.
Market risk comprises of currency risk and interest risk.

A. Foreign Currency exchange risk

The Company operates globally, and a portion of the business transacted are carried out in more than one currency,
hence it is exposed to currency risks through its transactions in foreign currency or where assets or liabilities are
denominated in currency other than functional currency.

The Company evaluates exchange rate exposure arising from foreign currency transactions and follows established
risk management policies including the use of derivatives like foreign exchange forward or option contracts to hedge
exposure to foreign currency risks.

For every one percentage depreciation / appreciation in the exchange rate between the functional currency and
foreign currency on the open exposure, the profit before tax of the Company on the open position as at the year-end
for the year would increase or decrease as follows

Derivative financial instruments and hedging activity

During the current financial year, the Company has designated eligible hedging relationships and commenced applying hedge
accounting in accordance with Ind AS 109, Financial Instruments. Hedge accounting is applied prospectively from the date on which
all qualifying criteria are satisfied. Accordingly, comparative information in respect of hedge accounting disclosures has not been
presented/restated, as such information was not applicable in the previous reporting period.

The Company's revenue is denominated in various foreign currencies. Given the nature of the business, a large portion of the costs are
denominated in Indian Rupee. This exposes the Company to currency fluctuations.

The Board of Directors has constituted a Foreign Exchange Risk Management Committee (FERMC) to frame, implement and monitor
the Foreign exchange risk management plan of the Company which inter-alia covers risks arising out of exposure to foreign currency
fluctuations. Under the guidance and framework provided by the FERMC, the Company uses various derivative instruments such as
foreign exchange contract and options in which the counter party is generally a bank.

25.10 The Company has provided for cess as specified in section 441A of the Companies Act, 1956 and in the absence of any notification
by the Central Government. The Company could not deposit the same with the appropriate authority.

25.11 The assessment for impairment of assets has taken place at the end of reporting period as per guidelines laid down in Ind AS 36
'Impairment of assets'. For the assets having recoverable amount less than its carrying amount the carrying amount of the asset is
reduced to its recoverable amount and the resulting impairment loss is recognised in profit or loss.

25.12 During the current financial year, the Company carried out a technical assessment of certain items of property, plant and equipment.
Based on this assessment, the useful lives and residual values of select assets have been revised to reflect their expected pattern of
economic benefits.

This change constitutes a change in accounting estimate in accordance with Ind AS 8 - Accounting Policies, Changes in Accounting
Estimates and Errors. The revised useful lives and residual values have been applied prospectively from the date of assessment

The impact of this change on the depreciation expense for the current year and future years is as follows

25.20 Business Combinations
Scheme of Amalgamation

The Board of Directors of Pitti Engineering Limited ("PEL" or "the Company"), at its meeting held on 5^th February 2026, approved a
Scheme of Amalgamation ("the Scheme") under Sections 230 to 232 of the Companies Act, 2013, and the rules made thereunder. The
Scheme provides for the amalgamation of Pitti Industries Private Limited (formerly Bagadia Chaitra Industries Private Limited) ("PIPL")
and Dakshin Foundry Private Limited ("DFPL") with the Company, along with their respective shareholders and creditors.

PIPL and DFPL are wholly owned subsidiaries of the Company, engaged in similar lines of business. The proposed amalgamation is
intended to simplify the group structure, improve operational efficiencies, enable optimal utilisation of resources, and achieve cost
rationalisation through elimination of duplicate functions and economies of scale.

The National Company Law Tribunal ("NCLT"), vide its order dated 10^th April 2026, dispensed with the requirement of convening
meetings of the equity shareholders, secured creditors, and unsecured creditors of PIPL, DFPL, and the Company. The Company filed
the second motion petition with the NCLT on 23^rd April 2026 for sanction of the Scheme, which is pending approval as at the reporting
date.

The Scheme is proposed to be effective from the appointed date of 1^st April 2026, subject to receipt of necessary statutory and
regulatory approvals and fulfilment of all conditions precedent specified therein.

As PIPL and DFPL are wholly owned subsidiaries of the Company, no consideration is payable pursuant to the Scheme. Upon the
Scheme becoming effective, the entire issued, subscribed, and paid-up share capital of PIPL and DFPL shall stand cancelled and
extinguished.

Note 1

(a) The increase in the Net Capital Turnover Ratio is primarily due to decrease in Trade payables.

Definitions

(a) Current Assets = Total Current Assets

(b) Current Liabilities = Total Current Liabilities

(c) Debt = Long term and short-term borrowings as per Note 10A and Note 13A respectively of the Balance Sheet

(d) Average Equity = (Opening Total Equity Closing Total Equity)/2

(e) Earnings available for debt service (EBDIT) = Profit Before Tax Depreciation Interest on Term Loans Interest on working
capital borrowings

(f) Earnings before interest and taxes (EBIT) = Profit before tax -Interest on investment income/ICD's - (Profit)/Loss on Sale of PPE
and Lease modification Interest Cost (all interest cost except Ind AS)

(g) Interest = Total Interest cost on Borrowings (Term Loans and Working Capital Borrowings)

(h) Revenue from Operations: Revenue from sales & Service Other operating revenue

(i) Average Inventory = (Opening Inventory Closing Inventory)/2

(j) Average Receivables = (Opening Receivables Closing Receivables)/2

(k) Average Payables = (Opening Payables Closing Payables)/2

(l) Working Capital = Current Assets - Current Liabilities

(m) Capital Employed = Total Equity - Noncurrent Investment Longterm and Short term Borrowings Interest accrued

(n) Earnings from Investor Funds= Earnings from Investment

(o) Average Investment Funds = (Opening Investments Closing Investments)/2
25.22 Other Statutory 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.

(ii) The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement
with the books of accounts.

(iii) The Company has not been declared willful defaulter by any Bank or Financial Institution or Government or any Government
Authority.

(iv) The Company does not have any transactions with companies struck off.

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

(vi) The Company has complied with the requirements of the number of layers prescribed under clause (87) of section 2 of the
Companies (Restriction on number of Layers) Rules, 2017.

(vii) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies) including foreign entities
(Intermediaries) with the understanding that the Intermediary shall

(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 guaranteed security or the like to or on behalf of the Ultimate Beneficiaries.

(viii) The Company has not received any funds from any person(s) or entity(ies) including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Group 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 guaranteed security or the like on behalf of the Ultimate Beneficiaries.

(ix) 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 (such as search or
survey or any other relevant provisions of the Income Tax Act, 1961).

(x) Corporate Social Responsibility (CSR)

As per Section 135 of the Companies Act, 2013, the Company has formed a Corporate Social Responsibility (CSR) Committee. The
Company is liable to incur CSR expense as per the requirement of Section 135 of Companies Act, 2013.

(a) Gross amount to be spent as per section 135 of the Companies Act, 2013: ' 191.62 lakhs (Previous year - ' 158.70 lakhs)

(b) Amount contributed during the year: ' 517.44 lakhs (Previous year - ' 215.50 lakhs)

(c) Amount spent during the year on

(i) Construction / acquisition of any assets Nil (Previous year - Nil)

(ii) Other than Construction / acquisition of any assets: ' 517.44 lakhs (Previous year - ' 215.50 lakhs)