(xi) Provisions and Contingent
Liabilities

The Company estimates the
provisions that have present
obligations as a result of past
events, and it is probable that
an outflow of resources will be
required to settle the obligations.
These provisions are reviewed at
the end of each reporting date and
are adjusted to reflect the current
best estimates.

The Company uses significant
judgement to disclose contingent
liabilities. Contingent liabilities are
disclosed when there is a possible
obligation arising from past events,
the existence of which will be
confirmed only by the occurrence
or non-occurrence of one or more
uncertain future events not wholly
within the control of the Company
or a present obligation that arises
from past events where it is either
not probable that an outflow of
resources will be required to settle
the obligation or a reliable estimate
of the amount cannot be made.
Contingent assets are neither
recognised nor disclosed in the
standalone financial statements.

(xii) Segment Reporting

Operating segments are reported
in a manner consistent with the
internal reporting provided to the
chief operating decision maker.
The Board of directors monitors the
operating results of all segments
separately for the purpose of
making decisions about resource
allocation and performance
assessment. Segment

performance is evaluated based
on profit and loss and is measured
consistently with profit and loss in
the Summary Statements.

The operating segments have
been identified on the basis of the
nature of services. Further:

i. Segment revenue includes
sales and other income directly
identifiable with/allocable to
the segment. Expenses that
are directly identifiable with/
allocable to segments are
considered for determining
the segment result.

ii. Expenses which relate to the
Company as a whole and not
allocable to segments are
included under unallocable
expenditure.

iii. Income which relates to the
Company as a whole and
not allocable to segments
is included in unallocable
income.

iv. Segment assets and liabilities
include those directly
identifiable with the respective
segments. Unallocable assets
and liabilities represent the
assets and liabilities that
relate to the Company as a
whole and not allocable to any
segment.

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

4.1 Estimation of fair value

As at March 31, 2026, the fair values of the properties is ' 320.66 Lakhs (March 31, 2025: ' 316.62
Lakhs) These valuations are based on valuations performed by an accredited independent valuer.
Such independent valuer is a specialist in valuing these types of investment properties.

The valuer has carried out valuation by considering the clear & marketable title of properties, the
valuation is therefore based on the verbal market survey of the real estate market in the subject
area.

A description of the Company's financial instrument risks, including risk management objectives and
policies is given in Note 41. The methods used to measure financial assets reported at fair value are
described in Note 40.

ii. The Company had obtained approval from board of directors in their meeting held on October 11,
2024, for Incorporation of wholly owned subsidiary in Kingdom of Saudi Arabia. Accordingly, the
Company received an investment license from Ministry of Investment in Saudi Arabia in the name of
Sanghvi Movers Middle East and has been registered with Ministry of Commerce on December 17,
2024, with proposed capital of 375,000 Saudi Riyals ('SAR'). Subsequent to the year ended March
31, 2025, the Company remitted the initial share capital of 375,000 SAR.

iii. The Company had obtained approval from board of directors in their meeting held on December
17, 2025, for Incorporation of wholly owned subsidiary in Botsawana. Accordingly, the subsidiary in
Botswana has been registered with Ministry of Commerce and received an certificate of incorporation
in the name of Sanghvi Movers Botswana Proprietary Limited ('the Subsidiary') dated January 13,
2026, with proposed capital of 15,000 BWP.

(ii) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has only one class of equity shares having par value of ' 1 per
share (March 31, 2025: ' 1 per share). Each shareholder is entitled to one vote per share held.
They entitles the holders to participate in dividends and dividend, if any declared is payable in
Indian Rupees.

The Board of Directors, in their meeting on May 20, 2026, proposed a final dividend of ' 2 per
equity share (Face Value: ' 1 per share) for the year ended March 31, 2026 which is subject to
approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive
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.

Nature and purpose of reserves

A) Securities premium

Securities premium is used to record the premium on issue of shares. The reserve is utilised in
accordance with the provisions of the Companies Act, 2013.

B) General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer
of net income at a specified percentage in accordance with applicable regulations. The purpose of
these transfers was to ensure that if a dividend distribution in a given year is more than 10% of
the paid-up capital of the group for that year, then the total dividend distribution is less than the
total distributable results for that year. Consequent to introduction of Companies Act 2013, the
requirement to mandatorily transfer a specified percentage of the net profit to general reserve
has been withdrawn. However, the amount previously transferred to the general reserve can be
utilised only in accordance with the specific requirements of Companies Act, 2013.

C) Capital Reserve

As per the provisions of the erstwhile Companies Act 1956, the Company created Capital reserve
on forfeiture of share call money in previous financial years. The amount can be utilised only in
accordance with the specific requirements of Companies Act, 2013.

18 (a) Term loans & deferred payment liabilities include:-

i) Saraswat Co-Opeartive Bank Limited ' 18,167.40 Lakhs (March 31, 2025: ' 17,018.02 Lakhs),
carrying interest rate of 8.90% to 8.95% (March 31, 2025: 9.20% to 9.25%) repayable in 1
to 48 monthly installments. Such loans are hypothecated against Plant & Equipment (43 Nos.
Cranes) and Fixed Deposits amounting to ' 2,778 Lakhs.

ii) Kotak Mahindra Bank Limited ' 1,561.42 Lakhs (March 31, 2025: ' 2,164.07 Lakhs), carrying
interest rate of 7.27% to 7.30% (March 31, 2025: 7.27% to 7.30%) repayable in 1 to 28
monthly installments. Such loans are hypothecated against Plant & Equipment (2 Nos. Cranes).

iii) HDFC Bank Limited ' 11,181.87 Lakhs (March 31, 2025: ' 2,813.99 Lakhs), carrying interest rate
of 7.75% to 9.25% (March 31, 2025: 9.00% to 9.25%) repayable in 1 to 48 monthly or quarterly
installments. Such loans are hypothecated against Plant & Equipment (43 Nos. Cranes).

iv) Indusind Bank Limited ' 2,055.66 Lakhs (March 31, 2025: ' 2,866.67 Lakhs), carrying interest
rate of 7.75% (March 31, 2025: 8.75%) repayable in 1 to 32 monthly installments. Such loans
are hypothecated against Plant & Equipment (2 No. Cranes).

v) Yes Bank Limited ' Nil (March 31, 2025: ' 1,075.94 Lakhs), carrying interest rate (March 31,
2025: 7.75%).

vi) Yes Bank Limited ' 133.53 Lakhs (March 31, 2025: ' 320.35 Lakhs), carrying interest rate of
8.40% (March 31, 2025: 8.40%) repayable in 1 to 8 monthly installments. Such loans are
hypothecated against Plant & Equipment (33 Prime Movers).

vii) IDFC First Bank Limited ' 13,665.51 Lakhs (March 31, 2025: ' 6,341.88 Lakhs), carrying interest
rate of 8.00% to 8.25% (March 31, 2025: 9.25%) repayable in 1 to 57 monthly installments.
Such loans are hypothecated against Plant & Equipment (47 No. Cranes).

viii) ICICI Bank Limited ' 12,577.69 Lakhs (March 31, 2025: ' 12,103.92 Lakhs), carrying interest
rate of 8.35% to 8.40% (March 31, 2025: 8.90%) repayable in 1 to 53 monthly installments.
Such loans are hypothecated against Plant & Equipment (44 No. Cranes).

18 (c) Bank loans contain certain debt covenants relating to limitation on indebtedness, debt-equity ratio,
net Borrowings to EBITDA ratio, current ratio, total outside liabilities to tangible net worth, interest
coverage ratio, security cover ratio and debt service coverage ratio. The debt covenant related to
limitation on indebtedness remained suspended as of the date of the authorisation of the standalone
financial statements. The Company has also satisfied all other debt covenants prescribed in the terms
of bank loan. The other loans do not carry any debt covenant.

The Company has not defaulted on any loans payable.

18 (e) Deferred payment liabilities represent obligations arising from usance letters of credit (LCs) issued by
banks on behalf of the Company in favour of capital creditors for the purchase of cranes, equipment,
and other capital goods, with usance periods of up to 1,080 days. These usance LCs are backed by
term loans. Accordingly, upon completion of the usance period, the Company has the right to avail a
term loan to settle the obligation on the date of maturity/retirement of the LC.

33 EARNINGS PER SHARE ("EPS")

Basic earnings per share amounts are calculated by dividing the profit for the year attributable to equity
shareholders by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the profit attributable to equity shareholders
by the weighted average number of equity shares outstanding during the year plus the weighted average
number of equity shares that would be issued on conversion of all the dilutive potential equity shares into
equity shares.

Pursuant to the approval of the members at the 35th Annual General Meeting of the Company held on
September 03, 2024, each equity share of face value of ' 2/each were split into two equity shares of ' 1/-
with effect from the record date, September 27, 2024. Consequently, basic and diluted earnings per share
have been computed for prior periods, presented in the financial results of the Company, in accordance
with Ind AS 33 - 'Earnings per share'.

xi) Compensated Absences:

The Compensated Absences is payable to all eligible employees for each day of accumulated
leave on death or on resignation. Compensated Absences debited to Statement of Profit and Loss
during the year amounts to ' 108.07 Lakhs (March 31, 2025: ' 21.77 Lakhs) and is included in
Note 28 - Employee benefits expenses ' 48.98 Lakhs (March 31, 2025: ' 21.77 Lakhs) and Note
31 - Exceptional Items ' 59.09 Lakhs (March 31, 2025: Nil). Accumulated current provision for
leave encashment aggregates to ' 196.46 Lakhs (Previous year ' 115.25 Lakhs).

35 LEASES

The Company incurred ' 598.15 Lakhs (March 31, 2025'461.52 Lakhs**) for the year towards expenses
relating to short term leases and leases of low-value assets.

** excluding expense related to discontinued operations amounting to ' 12.62 Lakhs

37 DISCLOSURE PURSUANT TO IND AS 105 "NON-CURRENT ASSETS HELD FOR SALE AND
DISCONTINUED OPERATIONS"

The Board of Directors of the Company during previous year ended March 31, 2025 had approved vide
its resolution dated August 07, 2024, slump sale of renewable energy business to Sangreen Future
Renewables Private Limited, the wholly owned subsidiary of the Company with effect from October 01,
2024. Further, the Company had executed the Business Transfer Agreement (""BTA"") on October 25,
2024, regarding transfer of renewable business for a consideration of ' 4,306.05 Lakhs. Accordingly, the
renewable energy business is disclosed as discontinued operations in the profit and loss account.

The slump sale was at book value considering it to be common control transaction in accordance with
Appendix C of IND AS -103 - Business Combination and accordingly there is no impact on statement
of profit and loss and the financial position of balance sheet as of March 31, 2025. For the purpose of
presentation, the profit/loss on discontinued operation are disclosed as single amount in the statement of
profit and loss and the revenue and expenses reported are only from continuing operations.

The analysis of single amount reported in the statement of profit and loss relating to discontinued
operations are as follows:

(c) Information about major customers

The Company's significant revenues are derived from two customer (March 31, 2025: one customer)
contributing 10% or more to the Company's revenue represented approximately ' 21,455.29 Lakhs
(March 31, 2025: ' 6,692.25 Lakhs) of the Company's total revenue from operations.

39 FAIR VALUES OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES

The fair value of cash and cash equivalents, bank balances other than cash and cash equivalents, security
deposits, interest accrued on fixed deposits, trade receivables, unbilled receivables, loans, interest
accrued on ICDs given, investments, trade payables, interest accrued but not due on borrowings, accrued
employee liabilities, short-term borrowings, capital creditors, interest payable on unsecured Loans and
other financial liabilities approximate the carrying amounts because of the short term nature of such
financial instruments.

The amortised cost using effective interest rate (EIR) of non-current financial assets consisting of security
deposits, fixed deposit accounts with maturity for more than 12 months from balance sheet date are not
significantly different from the carrying amount.

Financial assets that are neither past due nor impaired include cash and cash equivalents, security
deposits, term deposits, and other financial assets.

Set out below is a comparison, of the carrying amounts and fair value of the Company's financial
instruments:

(ii) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of changes in foreign exchange rates. The Company's exposure to the
risk of changes in foreign exchange rates relates primarily to the Company's financing activities
(when borrowings are denominated in a different currency from the Company's functional
currency) and in respect of ICD given to related parties.

(c) Fair Value of financial assets and liabilities measured at amortised cost

The fair value of cash and cash equivalents, trade receivables, Unbilled receivables, loans, other current
financial assets, trade payables, short-term borrowings and other financial liabilities approximate the
carrying amounts because of the short term nature of these financial instruments.

The amortised cost using effective interest rate (EIR) of non-current financial assets consisting of
investments in equity instruments, security and term deposits and of non current financial liabilities
consisting of borrowings received are not significantly different from the carrying amount.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the
fair values.

41 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

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

The Company is exposed to various financial risks. These risks are categorised into market risk, credit risk
and liquidity risk. The Company's risk management is coordinated by the Board of Directors and focuses
on securing long term and short term cash flows. The Company does not engage in trading of financial
assets for speculative purposes.

(A) 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: interest rate risk,
currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments
affected by market risk include borrowings and derivative financial instruments.

(i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. The Company exposure to the risk of
changes in market interest rates relates primarily to the Company's long-term debt obligations
with floating interest rates.

** Does not include foreign currency borrowings amounting to US$ 40,00,000 (' equivalent -
' 3,597.80 Lakhs (March 31, 2025: ' 3,130.40 Lakhs)) and EUR 1,60,000 (' equivalent - 175.12
Lakhs) for which the Company has entered into forward contract.

(B) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial
instrument fails to meet its contractual obligations. Credit risk arises principally from the Company's
trade receivables, receivables from deposits and also arises from cash held with banks and financial
institutions. The maximum exposure to credit risk is equal to the carrying value of the financial
assets. The objective of managing counterparty credit risk is to prevent losses in financial assets.
The Company assesses the credit quality of the counterparties, taking into account their financial
position, past experience and other factors.

The Company limits its exposure to credit risk of cash held with banks by dealing with highly
rated banks and institutions and retaining sufficient balances in bank accounts required to meet
a month's operational costs. The Management reviews the bank accounts on regular basis and
fund drawdowns are planned to ensure that there is minimal surplus cash in bank accounts.
The maximum exposure to the credit risk as at the reporting period is primarily from trade receivables
amounting to ' 17,803.59 Lakhs and ' 17,559.93 Lakhs as at March 31, 2026 and March 31, 2025
respectively. Trade receivables are typically unsecured and are derived from revenue earned from
customers located in India. 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. On account of adoption
of Ind AS 109 - Financial Instruments ("Ind AS 109"), the Company uses expected credit loss (ECL)
model to assess the impairment loss. The Company computes the expected credit loss allowance for

(i) Mainly due to provision created for slow and non moving inventory in books of account post submission
of statement to bank and exclusion of refurbished stock in statement.

(ii) Mainly due to unbilled revenue details submitted to bank includes only for the month for which
statement is filed while unbilled revenue as per books of account included all unbilled revenue
oustanding as at the end of reporting period and additional allowance for bad and doubtful debts
created in books of account post submission of statement to bank.

44 RELATIONSHIP WITH STRUCK OFF COMPANIES UNDER SECTION 248 OF THE COMPANIES
ACT, 2013 OR SECTION 560 OF COMPANIES ACT, 1956,

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

46 COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES

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

47 UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM:

(i) 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 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(ies), 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

50 CAPITAL MANAGEMENT

For the purpose of the Company's capital management, capital includes issued equity capital, share
premium and all other equity reserves attributable to the equity holders. The primary objective of the
Company's capital management is to maximize the shareholder value and to ensure the Company's ability
to continue as a going concern.

52 CONTINGENT LIABILITIES AND CONTINGENT ASSETS

The Company creates a provision when there is 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 obligation.
Provisions are measured at the best estimate of the expenditure required to settle the present obligation
at the Balance sheet date and are not discounted to its present value.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that probably will not require an outflow of resources or where a reliable estimate of the obligation cannot
be made.

(i) Claims against the Company not acknowledged as debts comprises of claims raised on Company
by it's customers or vendors for breach of contracts, and by certain government authorities on
account of road taxes, raod accident by SML's Trailer and charges for conversion fees for land
aggregating to ' 131.27 Lakhs (March 31, 2025 - ' 209.18 Lakhs). The Company has been
advised by its legal counsel that it is possible, but not probable, that action will succeed in
respect of claims against the Company. These claims are being contested in the courts by the
Company. The Management does not expect these claims to succeed. Accordingly, no provision
for the contingent liability has been recognised in the financial statements.

(ii) The Company had received favourable order in previous year in respect of Order of Assessment
for FY 2008-09 towards VAT and CST liability regarding transfer of right to use the goods.
Accordingly the Demand Notice issued by Asst. Commissioner of Sales Tax (PUN-INV-D-007)
Pune in respect of Order of Assessment of Tax under Central Sales Tax, 1956 for Financial Year
2008-09 towards VAT liability under CST Act and VAT liability under MVAT Act, 2002 aggregating
to ' 120.26 crores regarding "transfer of right to use the goods" stands rejected. Further during
the current year the Company has received favourable order in respect of Order of Assessment for
FY 2007-08 and 2009-10 towards VAT and CST liability agreegating to ' 81.20 crores regarding
transfer of right to use the goods. Accordingly the levy of tax under VAT and CST on account of
purpoted transfer of right to use the goods i.e. Cranes need to be deleted.

Based on favourable judgments for F.Y. 2007-08, F.Y. 2008-09 and F.Y. 2009-10, the management
believes that rendering Crane Services on rental basis does not involve "transfer of right to
use goods" so as to fall under the purview of VAT or Sales tax. As the Company never passes
effective control and possession of its cranes to its customers, the question of levying VAT or
CST does not arise. Accordingly company believes that order of Assessment for FY 2010-11, FY
2012-13, FY 2013-14, FY 2014-15, FY 2015-16, FY 2016-17 and FY 2017-18 towards VAT and
CST liability regarding transfer of right to use the goods would be decided in favor of company.

Also the management relied on the recent judgement issued by Supreme Court on January 09,
2024 related to applicability of Sales Tax/VAT on renting out Trailers/cranes. Wherein the apex
court recorded in its Order that a sale transaction can be subject to either service or sales tax,
and the sale transaction cannot be subjected to both taxing statutes. Accordingly, supreme court
allow the appeals by holding that the contracts are not covered by the relevant provisions of the
Sales Tax Act and of the VAT Act, as the contracts do not provide for the transfer of the right to
use the goods.

(iii) Income tax matters comprise demand from the tax authorities for the payment of additional tax
of ' 24.98 Lakhs (March 31, 2025: ' 20.71 Lakhs) upon completion of their tax reviews for the
various financial years. The tax demands are mainly on account of TDS liability under the Income
Tax Act and disallowances of certain expenses. The matter is pending before the Assessing
Officer of Income Tax.

(iv) The Company has received notice of demand in respect of FY 2017-18 to FY 2023-24 towards
GST liabilities regarding disallowance of input tax credits, unreconciled turnover, difference in tax
payment in reconciliation. The matters are pending before various forums.

The Company is contesting the above demands of Sales tax, VAT, Income tax and Goods and
Services Tax and the management, including its tax advisors, believe that its position will
likely be upheld in the appellate process. No tax expense has been accrued in the financial
statements for the tax demand raised. The management believes that the ultimate outcome of
this proceeding will not have a material adverse effect on the Company's financial position and
results of operations.

b. Guarantees:

The Company has issued corporate guarantees as under:-

I n favour of the Banks/Lenders on behalf of some of its subsidiaries, as mentioned below, for the
purpose of raising finance in the form of CAPEX/Terms loans, working capital and other general
purposes.

i. Sangreen Future Renewables Private Limited ' 10,500 Lakhs.

ii. Sanghi Movers Middle East Limited US$ 192.69 Lakhs (Equivalent ' 18,239.08 Lakhs) by way of
irrevocable stand by letter of credits.

Contingent assets are neither recorded nor disclosed in the financial statements.

53 CORPORATE SOCIAL RESPONSIBILITY

As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs
to spend at least 2% of its average net profit for the immediately preceding three financial years on
corporate social responsibility (CSR) activities. The areas for CSR activities are as described below. A CSR
committee has been formed by the Company as per the Act. The funds are utilised through the year on
these activities which are specified in Schedule VII of the Companies Act, 2013.

54 AUDIT TRAIL

In regard to financial accounting software:

The Company has used an accounting software for maintaining its books of account which has a feature
of recording audit trail (edit log) facility and the same has been enabled and operated throughout such
the year for all relevant transactions recorded in such software except that we are unable to comment on
audit trail at database level due to inadequate coverage in SOC report. Further, during the course of our
audit, we did not come across any instance of audit trail feature being tampered with in respect of such
accounting software except for above. Additionally, where enabled, the audit trail of prior year has been
preserved by the Company as per the statutory requirements for record retention.

In regard to Payroll application:

Based on our examination which included test checks, the Company has used an accounting software
for maintaining its payroll records, which is managed and maintained by a third-party software service
provider. However, In the absence of independent auditor's report of the service organisation on the
software for payroll processing of staff salaries, we are unable to comment whether the payroll software
has a feature of recording audit trail (edit log) facility and whether the same has operated throughout the
year for all relevant transactions recorded in the software or whether there is any instance of audit trail
feature being tampered with. Additionally, we are unable to comment whether the audit trail of prior year
has been preserved by the Company as per the statutory requirements for record retention.

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

56 The Company does not have any undisclosed income which is not recorded in the books of account that
has been surrendered or disclosed as income during the year (and previous 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.

57 The Company has not entered into any scheme of arrangement which has an accounting impact on
current or previous financial year.

58 The Company has not been declared wilful defaulter by any bank or financial institution or government or
any government authority.

59 The Company does not have any Benami property, where any proceeding has been initiated or pending
against the Company for holding any Benami property.

60 The title deeds of all the immovable properties (other than properties where the Company is the lessee
and the lease agreements are duly executed in favour of the lessee), as disclosed in note 3.1 to the
financial statements, are held in the name of the Company.

61 EXCEPTIONAL ITEMS

(a) During the quarter ended December 31, 2025 during the mobilisation of crane cabin, the trailer and
crane cabin sustained significant damage. The loss arising from this damage is considered exceptional
in nature and accordingly, the net written down value (WDV) of the asset amounting to ' 377.96
Lakhs and reversal of input tax credit availed amounting to ' 59.20 Lakhs has been recognised as an
exceptional item and charged to the statement of profit and loss for the year ended March 31, 2026.
The Company has lodged an insurance claim in respect of the above loss. Pending final assessment
and acceptance by the insurer, no insurance claim receivable has been recognised in the standalone
financial statements for the year ended March 31, 2026.

(b) On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages,
2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational
Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The
Company has assessed and disclosed the incremental impact of these changes and presented such
incremental impact under Exceptional items in the standalone statement of profit and loss for the
year ended March 31, 2026. The incremental impact consisting of gratuity provision of ' 269.90
Lakhs and provision for long-term compensated absences of ' 59.09 Lakhs primarily arising due to
change in wage definition. The Company continues to monitor the finalisation of Central/State Rules
and clarifications from the Government on other aspects of the Labour Code and would provide
appropriate accounting effect on the basis of such developments as needed.

62 The other requirements of the Schedule III of the Companies Act, 2013 not specifically disclosed are
either Nil or not applicable to the Company.

63 No Significant subsequent events have been observed which may require an adjustment to the standalone
financial statements.

64 Previous year figures have been regrouped/reclassified to confirm presentation as per Ind AS and as
required by Schedule III of the Act.