3.21. Provisions and Contingencies

Provisions are recognised when the Company has a
present obligation (legal or constructive) as a result
of a past event, and it is probable that an outflow
of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate
can be made of the amount of the obligation.

The amount recognised as a provision is the best
estimate of the consideration required to settle the
present obligation at the end of the reporting period,
taking into account the risks and uncertainties
surrounding the obligation.

When the Company expects some or all of a provision to
be reimbursed from third parties, for example, under an
insurance contract, the reimbursement is recognised as
a separate asset, but only when the reimbursement is
virtually certain that reimbursement will be received and
the amount of the receivable can be measured reliably.
The expense relating to a provision is presented in the
statement of profit or loss net of any reimbursement.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a
finance cost.

A contingent liability is a possible obligation that arises
from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more
uncertain future events beyond the control of the
Company or a present obligation that is not recognised
because it is not probable that an outflow of resources

will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there
is a liability that cannot be recognised because it cannot
be measured reliably. The Company does not recognise
a contingent liability but discloses its existence in the
standalone financial statements.

Contingent assets are not recognised but disclosed in
the standalone financial statements when an inflow of
economic benefits is probable.

3.22. Segment Reporting

Operating segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker.

3.23. Events occurring after the reporting period

The Company evaluates events and transactions that
occur subsequent to the balance sheet date but prior
to the approval of financial statements to determine
the necessity for recognition and/or reporting of
subsequent events and transactions in the financial
statements.

4. Critical accounting estimates and assumptions

The preparation of the Company’s standalone financial
statements requires management to make judgements,
estimates and assumptions that affect the reported
amounts of revenues, expenses, assets and liabilities,
and the accompanying disclosures, and the disclosure
of contingent liabilities. Uncertainty about these
assumptions and estimates could result in outcomes
that require a material adjustment to the carrying
amount of assets or liabilities affected in future periods.

4.1. Estimates and assumption

The key assumptions concerning the future and
other key sources of estimation uncertainty at the
reporting date, that have a significant risk of causing
a material adjustment to the carrying amounts of
assets and liabilities within the next financial year, are
described below. The Company based its assumptions
and estimates on parameters available when the
standalone financial statements were prepared.
Existing circumstances and assumptions about future
developments, however, may change due to market
changes or circumstances arising that are beyond the
control of the Company. Such changes are reflected in
the assumptions when they occur.

(a) Useful life of Property, plant and equipment and
Intangible Assets

As described in Note 3.6 and 3.9 of the material
accounting policies, the Company reviews the estimated
useful lives of property, plant and equipment and
intangible assets at the end of each reporting period.

(b) Impairment of non-financial assets

Impairment exists when the carrying value of an asset
or cash generating unit exceeds its recoverable amount,
which is the higher of its fair value less costs of disposal
and its value in use. The fair value less costs of disposal
calculation is based on available data from binding sales
transactions, conducted at arm’s length, for similar
assets or observable market prices less incremental
costs for disposing of the asset. The value in use
calculation is based on a DCF model. The cash flows are
derived from the budget for the next five years and do
not include restructuring activities that the Company is
not yet committed to or significant future investments
that will enhance the asset’s performance of the CGU
being tested. The recoverable amount is sensitive to
the discount rate used for the DCF model as well as the
expected future cash-inflows and the growth rate used
for extrapolation purposes.

(c) Provisions and contingencies

The assessments undertaken in recognising provisions
and contingencies have been made in accordance with
the applicable Ind AS. A provision is recognised if, as
a result of a past event, the Company has a present
legal or constructive obligation that can be estimated
reliably, and it is probable that an outflow of economic
benefits will be required to settle the obligation. Where
the effect of time value of money is material, provisions
are determined by discounting the expected future cash
flows.

The Company has significant capital commitments
in relation to various capital projects which are not
recognised on the balance sheet. In the normal course of
business, contingent liabilities may arise from litigation
and other claims against the Company. Guarantees are
also provided in the normal course of business. There are
certain obligations which management has concluded,
based on all available facts and circumstances, are not
probable of payment or are very difficult to quantify
reliably, and such obligations are treated as contingent
liabilities and disclosed in the notes but are not reflected
as liabilities in the standalone financial statements.

Although there can be no assurance regarding the final
outcome of the legal proceedings in which the Company
involved, it is not expected that such contingencies
will have a material effect on its financial position or
profitability.

(d) Defined benefit plans

The determination of Company’s liability towards
defined benefit obligation to employees is made through
independent actuarial valuation including determination of
amounts to be recognised in the Statement of Profit and Loss
and in other comprehensive income. Such valuation depend
upon assumptions determined after taking into account
inflation, seniority, promotion and other relevant factors
such as supply and demand factors in the employment
market. Information about such valuation is provided in
notes to the standalone financial statements.

Further details about defined benefit obligations are
provided in Note 30.

(e) Revenue recognition

Contracts are subject to modification to account for changes
in contract specification and requirements. The Company
reviews modification to contract in conjunction with the
original contract, basis which the transaction price could be
allocated to a new performance obligation, or transaction
price of an existing obligation could undergo a change. In the
event transaction price is revised for existing obligation, a
cumulative adjustment is accounted for.

Contract modifications are accounted for when additions,
deletions or changes are approved either to the contract
scope or contract price. The accounting for modifications of
contracts involves assessing whether the services added to
an existing contract are distinct and whether the pricing is
at the selling price. Services added that are not distinct are
accounted for on a cumulative catch up basis, while those
that are distinct are accounted for prospectively, either as a
separate contract, if the additional services are priced at the
selling price, or as a termination of the existing contract and
creation of a new contract if not priced at the selling price

The Company’s contracts with customers could include
promises to transfer multiple products and services to a
customer. The Company assesses the products / services
promised in a contract and identifies distinct performance
obligations in the contract. Identification of distinct
performance obligation involves judgement to determine
the deliverables and the ability of the customer to benefit
independently from such deliverables.

Judgement is also required to determine the transaction
price for the contract. The transaction price could be either
a fixed amount of customer consideration or variable
consideration with elements such as volume discounts,
service level credits, performance bonuses, price concessions
and incentives. The transaction price is also adjusted for the
effects of the time value of money if the contract includes a
significant financing component. Any consideration payable
to the customer is adjusted to the transaction price, unless
it is a payment for a distinct product or service from the
customer. The estimated amount of variable consideration
is adjusted in the transaction price only to the extent
that it is highly probable that a significant reversal in the
amount of cumulative revenue recognised will not occur
and is reassessed at the end of each reporting period. The

Company allocates the elements of variable considerations
to all the performance obligations of the contract unless
there is observable evidence that they pertain to one or
more distinct performance obligations.

The Company exercises judgement in determining whether
the performance obligation is satisfied at a point in time or
over a period of time. The Company considers indicators
such as how customer consumes benefits as services are
rendered or who controls the asset as it is being created or
existence of enforceable right to payment for performance to
date and alternate use of such product or service, transfer of
significant risks and rewards to the customer, acceptance of
delivery by the customer, etc.

Note 28 : Foreign Exchange Derivatives and Exposures not Hedged

The Company holds derivative financial instruments such as foreign currency forward and option contracts to mitigate the risk of changes in exchange rates
on foreign currency exposures. The counter party for these contracts is generally a bank.

All derivative financial instruments are recognised as assets or liabilities on the Balance Sheet and measured at fair value. The accounting for changes in the
fair value of a derivative instrument depends on the intended use of the derivative and the resulting designation.

The fair values of all derivatives are separately recorded in the Balance Sheet within current and non-current assets and liabilities depending upon the
maturity of the derivatives.

The use of derivative instruments is subject to limits, authorities and regular monitoring by appropriate levels of management. The limits, authorities and
monitoring systems are periodically reviewed by Management and the Board. The market risk on derivatives is mitigated by changes in the valuation of the
underlying assets, liabilities or transactions, as derivatives are used only for risk management purposes.

Cash Flow Hedges

The Company also enters into forward exchange contracts for hedging highly probable forecast transaction and account for them as cash flow hedges and
states them at fair value. Subsequent changes in fair value are recognised in equity until the hedged transaction occurs, at which time, the respective gain or
losses are reclassified to the Statement of Profit or Loss. These hedges have been effective for the year ended March 31, 2026.

The Company uses foreign exchange contracts from time to time to optimise currency risk exposure on its foreign currency transactions. The cash flow hedges
are taken out by the Company during the year for hedging the foreign exchange rate of highly probable forecast transactions.

The cash flows related to above are expected to occur during the year ended March 31, 2027 and consequently may impact the Statement of Profit or Loss for
that year depending upon the change in the foreign exchange rates movements.

Note 29 : Segment Reporting

a. Identification of Segments:

The chief operational decision maker monitors the operating results of its Business segment separately for the purpose of making decision about resource
allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the
Financial Statements. Operating segments have been identified on the basis of nature of products and other quantitative criteria specified in the Ind AS
108. Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (“CODM”) of the
Company.

b. Operating Segments:

The Company's business activity falls within a single operating business segment of "Engineering Products".

c. Geographical Segment:

Geographical segment is considered based on sales within India and rest of the world.

Note:

(a) Employees of the Company receive benefits from a Provident Fund, which is a defined contribution plan. The eligible employees and the Company make
monthly contributions to the provident fund plan equal to a specified percentage of the employees’ salary. Amounts collected under the Provident Fund
plan are deposited in a government administered Provident Fund. The remaining portion is contributed to the government-administered pension fund.
Employees of the Company receive benefits from a government administered provident fund, which is a defined contribution plan. The Company has no
further obligation to the plan beyond its monthly contributions. Such contributions are accounted for as defined contribution plans and are recognised
as employee benefits expenses when they are due in the Statement of profit and loss.

(b) The Company’s Employee State Insurance Fund, for all eligible employees, is administered by ESIC Corporation. The Company is required to contribute
specified amount to ESIC Corporation and has no further obligations to the same beyond its contribution.

B. Defined Benefit Plans:

The Company has following post employment benefit plans which are in the nature of defined benefit plans:

(a) Gratuity

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuous service for a
period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last drawn basic salary per
month computed proportionately for 15 days salary multiplied for the number of years of service. The Gratuity plan is a Funded plan administered by
a Trust and the Company makes contributions to recognised Trust in India.

Liabilities with regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent actuary, at each Balance Sheet date
using the projected unit credit method. The Company fully contributes all ascertained liabilities to the The Anup Engineering Limited Employees'
Gratuity Fund Trust (the Trust). Trustees administer contributions made to the Trusts and contributions are invested in a scheme as permitted by
Indian law.

The Company recognises the net obligation of a defined benefit plan in its Balance Sheet as an asset or liability. Gains and losses through re¬
measurements of the net defined benefit liability/(asset) are recognised in other comprehensive income and are not reclassified to profit or loss in
subsequent periods. The actual return of the portfolio of plan assets, in excess of the yields computed by applying the discount rate used to measure
the defined benefit obligations recognised in other comprehensive income.

Risks associated to the defined benefit plans:

1. Interest Rate Risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability requiring higher provision. A
fall in the discount rate generally increases the mark to market value of the assets depending on the duration of asset.

2. Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of member as such, an increase in the
salary of the members more than assumed level will increase the plan's liability.

3. Investment Risk: The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market
yields at the end of the reporting period on government bonds. If the return on plan asset is below this rate, it will create a plan deficit. Currently, for the
plan in India, it has a relatively balanced mix of investments in government securities, and other debt instruments.

4. Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Since the plan is invested in lines of Rule 101 of Income Tax Rules,
1962, this generally reduces ALM risk.

5. Mortality Risk: Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.

6. Concentration Risk: Plan is having a concentration risk as all the assets are invested with the insurance company and a default will wipe out all the assets.
Although probability of this is very low as insurance companies have to follow stringent regulatory guidelines.

Note 33 : Share Based Payments

A.The Company has instituted Employee Stock Option Scheme 2018 (“ESOP 2018”), Employee Stock Options Scheme (Demerger) 2018 (“ESOS DEMERGER
2018”) and Anup Employee Stock Option Scheme 2019 (“Anup - ESOS 2019”) pursuant to the approval of the Shareholders of the Company to the Scheme in
their Meetings held on May 12, 2018, May 12, 2018, August 7, 2019, May 17, 2023, May 3, 2024, May 13, 2025 and June 5, 2025 respectively. Under ESOP 2018,
ESOS DEMERGER 2018 and Anup - ESOS 2019, the Company has issued 87,500; 58,371; 57,500, 30,000, 80,000 and 38000 options respectively convertible into
equal number of Equity Shares of face value of ? 10 each. The following table sets forth the particulars of the options issued and vested under ESOP 2018,
ESOS DEMERGER 2018 and Anup - ESOS 2019:_

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments that have quoted price. The fair
value of all equity instruments which are traded in the stock exchanges is valued using the closing price as at the reporting date.

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, contingent consideration and indemnification asset included in level 3.

There are no transfer between level 1, 2 and 3 during the year.

The Company’s policy is to recognise transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.

Note 38 : Financial Instruments Risk Management Objectives and Policies

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company’s risk management
assessment and policies and processes are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and
to monitor such risks and compliance with the same. Risk assessment and management policies and processes are reviewed regularly to reflect changes in
market conditions and the Company’s activities.

The Company's risk management is carried out by a Treasury department under policies approved by the Board of Directors. The Company's treasury
identifies, evaluatesand hedges financial risks in close co-operation with the Company's operating units. The Board provides written principles for overall risk.

(a) Market Risk

Market risk refers to the possibility that changes in the market rates may have impact on the Company’s profits or the value of its holding of financial
instruments. The Company is exposed to market risks on account of foreign exchange rates, interest rates, underlying equity prices, liquidity and other market
changes.

Future specific market movements cannot be normally predicted with reasonable accuracy.

(a1) Interest Rate Risk

Interest rate risk refers to the possibility that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest
rate. The Company is exposed to interest rate risk of short-term and long-term floating rate instruments. The Company’s policy is to maintain a balance of fixed
and floating interest rate borrowings and the proportion of fixed and floating rate debt is determined by current market interest rates. The borrowings of the
Company are principally denominated in Indian Rupees with mix of fixed and floating rates of interest. These exposures are reviewed by appropriate levels of
management at regular interval.

As on March 31, 2026 ?7,399.37 i.e. 75.51% of total borrowing is at fixed rate of interest and March 31, 2025 ?715.49 i.e. 27.08% of total borrowing is at fixed
rate of interest.

(a2) Foreign Currency Risk

The Company’s foreign currency risk arises from its foreign operations and foreign currency transactions. The fluctuation in foreign currency exchange rates
may have potential impact on the income statement and equity, where any transaction references more than one currency or where assets/liabilities are
denominated in a currency other than the functional currency of the Company. The major foreign currency exposures for the Company are denominated in
USD, EURO and GBP.

Since a part of the Company’s revenue is in foreign currency and major part of the costs are in Indian Rupees, any movement in currency rates would
have impact on the Company’s performance. Exposures on foreign currency sales are managed through the Company’s hedging policy, which is reviewed
periodically to ensure that the results from fluctuating currency exchange rates are appropriately managed. The Company strives to achieve asset liability
offset of foreign currency exposures and only the net position is hedged. Consequently, the overall objective of the foreign currency risk management is to
minimise the short term currency impact on its revenue and cash-flow in order to improve the predictability of the financial performance. The Company may
use forward contracts, foreign exchange options or currency swaps towards hedging risk resulting from changes and fluctuations in foreign currency exchange
rate. These foreign exchange contracts, carried at fair value, may have varying maturities depending upon the primary host contract requirements and risk
management strategy of the Company. Hedge effectiveness is assessed on a regular basis. Details of the hedge & unhedged position of the Company given in
Note 28.

Foreign Currency Sensitivity

The foreign exchange rate sensitivity is calculated by the aggregation of the net foreign exchange rate exposure in USD, EURO and GBP with a simultaneous
parallel foreign exchange rates shift in the currencies by 1% against the functional currency of the respective entities. The Company's exposure to foreign
currency changes for all other currencies is not material.

The movement in the pre-tax effect is a result of a change in the fair value of financial instruments not designated in a hedge relationship. Although the
financial instruments have not been designated in a hedge relationship, they act as an economic hedge and will offset the underlying transactions when they
occur.

(b) Credit Risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses
of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration of risks. Financial instruments that are subject to
concentrations of credit risk materially consists of trade receivables, investments and derivative financial instruments.

The Company is exposed to credit risk from its operating activities (primarily trade receivables and also from its investing activities including deposits with
banks, forex transactions and other financial instruments) for receivables, cash and cash equivalents, financial guarantees and derivative financial instruments.

All trade receivables are subject to credit risk exposure. The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each
customer. The demographics of the customer, including the default risk of the industry and country, in which the customer operates, also has an influence on
credit risk assessment. Credit risk is managed through established policies, controls relating to credit approvals and procedures for continuously monitoring
the creditworthiness of customers to which the Company grants credit terms in the normal course of business. Outstanding customer receivables are regularly
monitored and any shipments to major customers are generally covered by letters of credit. The history of trade receivables shows a negligible provision for
bad and doubtful debts. Therefore, the Company does not expect any material risk on account of non-performance by any of the Company’s counterparties.
The Company does not have significant concentration of credit risk related to trade receivables. However, 3 customer contribute to more than 10% of
outstanding accounts receivable as of March 31, 2026. (3 customers contribute to more than 10% of outstanding accounts receivable as of March 31, 2025).

Trade receivables are non-interest bearing and are generally on 30 days to 180 days credit term.

With respect to derivatives, the Company’s forex management policy lays down guidelines with respect to exposure per counter party i.e. with banks with high
credit rating, processes in terms of control and continuous monitoring. The fair value of the derivatives are credit adjusted at the period end.

(c) 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. The objective of liquidity
risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. Prudent liquidity risk management implies
maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet
obligations when due and to close out market positions. Due to the dynamic nature of the underlying businesses, the Company's treasury maintains flexibility
in funding by maintaining availability under committed credit lines.

The Company generates cash flows from operations to meet its financial obligations, maintains adequate liquid assets in the form of cash & cash equivalents
and has undrawn short term line of credits from banks to ensure necessary liquidity. The Company closely monitors its liquidity position and deploys a robust
cash management system. Management monitors rolling forecasts of the Company's liquidity position (comprising the undrawn borrowing facilities below)
and cash and cash equivalents on the basis of expected cash flows. This is generally carried out at local level in the operating companies of the company
in accordance with practice and limits set by the Company. These limits vary by location to take into account the liquidity of the market in which the entity
operates. In addition, the Company's liquidity management policy involves projecting cash flows in major currencies and considering the level of liquid assets
necessary to meet these, monitoring Balance Sheet liquidity ratios against internal and external regulatory requirements and maintaining debt financing
plans.

During the year, the Company has been regular in repayment of principal and interest on borrowings on or before due dates. The Company did not have
defaults of principal and interest as on reporting date.

The Company requires funds both for short-term operational needs as well as for long-term investment programmes mainly in growth projects.

The table below summarises the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments:

Note 40 : New Accounting Pronouncements to be adopted on or after March 31, 2026

The Ministry of Corporate Affairs (MCA) notifies new standards and amendments to the existing standards under Companies (Indian Accounting Standards)
Rules as issued from time to time. During the year, the MCA has amended the Ind AS as below:

A. For the year ended March 31, 2026, MCA has notified following Amendment to Ind AS, applicable to the Company w.e.f. April 01, 2025. Based on
its assessment, the Company does not expect these amendments to have a material impact on its standalone financial statements.

Ind AS 1- Presentation of Financial Statements:

The amendment relates to classification of liabilities as current or non-current and non-current liabilities with covenants. In the context of classifying
a liability as current, it removes the requirement of existence of a right to defer settlement for at least 12 months after the reporting date and instead
requires that the said right should exist on the reporting date and have substance. The amendment also introduces guidance on classification of liabilities
with covenants.

Ind AS 7- Statement of Cash Flows: The amendments requires to inform users of the Financial Statements of the existence of supplier finance
arrangements and explain the nature of the arrangements, the carrying amount of liabilities and the range of payment due dates.

Ind AS 107- Financial Instruments Disclosures: The amendments to add supplier finance arrangements as a factor that may cause concentration of
liquidity risk.

Ind AS 12- Income Taxes: The amendments to the Pillar Two Model Rules introduce a temporary mandatory exemption from deferred tax accounting for
top-up taxes and require companies to disclose their use of this exemption. This relief takes effect immediately and applies retrospectively. In addition,
the amendments mandate new disclosures to compensate for any potential loss of information resulting from the exemption.

B. The following amendments to existing standards have been notified by the Ministry of Corporate Affairs but are not yet effective and have not
been early adopted by the Company:

Amendment to Ind AS 1 - ‘Presentation of Financial Statements’- Classification of Liabilities as current or non-current and non-current liabilities with
covenants. The amendment includes specific provisions that will take effect for reporting periods beginning on or after 1 April 2026, retrospectively, as
outlined below: a) Breach of material covenant for long-term loan arrangement on or before end of reporting period with effect that liability becomes
payable on demand as on reporting date, then it shall be classified as current liability, if lender agreed after reporting period and before approval of
financial statements to not demand payment as a consequence of breach. b) Classify as non-current liability, if lender agreed by end of reporting period
to provide grace period ending at least 12 months after reporting period within which entity can rectify the breach provided lender does not demand
immediate repayment. c) Disclose information about the timing of settlement to understand the impact of the liability on the financial statements. The
Company does not expect this amendment to have an impact on its operations or financial statements.

C. Other amendments

There are no other standards, amendments or interpretations issued by the Institute of Chartered Accountants of India (“ICAI”) or notified by the MCA
which, in the opinion of management, are expected to have a significant impact on the standalone financial statements of the Company.

Note 41 : Additional Regulatory Disclosures As Per Schedule III Of Companies Act, 2013

Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet as given in Part I of Division II of Schedule III
to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere in any other notes to the Financial Statements.

a. Utilisation of Borrowed Funds

During the year ended March 31, 2026 and March 31, 2025, the Company has not advanced or loaned or invested funds (either borrowed funds or share
premium or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries)with the understanding (whether recorded in
writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate
Beneficiaries) or

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

Further, during the year ended March 31, 2026 and March 31, 2025, 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:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or

ii) provide any guarantee, security, or the like on behalf of the ultimate beneficiaries.

b. Details of Cryptocurrency or Virtual Currency

The Company has not invested or traded in Crypto Currency or Virtual Currency during the year ended March 31, 2026 (Previous year: Nil).

c. Details of Benami Property Held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Prohibition of Benami Property
Transactions Act, 1988 (as amended in 2016) (formerly the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)) and Rules made thereunder during
the year ended March 31, 2026 (Previous year: Nil).

d. Wilful Defaulter

The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the
financial year or after the end of reporting period but before the date when the financial statements are approved.

e. Undisclosed Income

The Company does not have any transactions which is not recorded in the books of accounts but 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).

f. Relationship with Struck-Off Companies

The Company does not have any transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies
Act, 1956 during the year ended March 31, 2026 (Previous year: Nil).

g. 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.

h. Compliance with approved Scheme(s) of Arrangements

The Company has entered into an scheme of arrangement as disclosed in note 42. The accounting effect of such scheme has been accounted for in the
books of account of the Company in accordance with “the Scheme” and Ind AS.

i. Valuation of Property, Plant and Equipment, Right-of-Use Assets and Intangible Assets

The Company has not revalued its property, plant and equipment’s, right-of-use assets and intangible asset during the current or previous year.

j. Quarterly Returns or Statements of Current Assets Filed with Banks

The Company has Fund-based and Non-fund-based limits of Working Capital from Banks and Financial institutions. For the said facility, the revised
submissions made by the Company to its lead bankers based on closure of books of accounts at the year end, the revised quarterly returns or statements
comprising stock statements, book debt statements, credit monitoring arrangement reports, statements on ageing analysis of the debtors/other
receivables, and other stipulated financial information filed by the Company with such banks or financial institutions are in agreement with the books of
account of the Company of the respective quarters and no material discrepancies have been observed.

Note 42 : Business Combinations

During the financial year 2024-25, the Company had entered into definitive share purchase agreement to acquire 100% equity shares of Mabel Engineering
Private Limited ("Mabel") for expansion of product portfolio, capacity expansion and geographical spread for a consideration of ?3,300 Lakhs. Mabel is engaged
in the business of engineering, fabrication, supply and erection and delivering solutions for pressure vessels, reactors, storage tanks, silos, heat exchangers,
heavy structural components, chimneys and piping systems.

Note 44 : Events Occurring After the Reporting Period

The Company evaluates events and transactions that occur subsequent to the Balance Sheet date but prior to the approval of financial statements to determine
the necessity for recognition and/or reporting of subsequent events and transactions in the financial statements.

The Board of Directors recommended a final dividend of ?12/- per equity share of face value of ?10/- each for the financial year ended March 31, 2026, subject
to approval of shareholders in the ensuing Annual General Meeting.

Note 45 : Regrouped, Recast, Reclassified

Material regroupings: Appropriate adjustments have been made in the Statements of Assets and Liabilities, Statement of Profit and Loss and Cash Flows,
wherever required, by a reclassification of the corresponding items of income, expenses, assets, liabilities and cash flows in order to bring them in line with
the groupings as per the financials of the Company as at March 31, 2026.