1. During the year, Rama Phosphates Limited has split its shares in the ratio of 1:1. Consequently the number of shares held by the Company increased to 27,438 shares.

2. During the year ended 31 March 2023, Andhra Pradesh Gas Power Corporation Limited (APGPCL) has closed its plant and laid off employees, pursuant to cancellation of allocation of natural gas. The Company had accordingly fair valued its investment in APGPCL at Nil.

3. The Ordinary shares of Tunisian Indian Fertilisers S.A., Tunisia (TIFERT) held by the Company have been pledged to secure the obligations of TIFERT to their lenders, except 8,04,848 shares.

4. The Company holds 100% of the quotas and is the only partner in the Limited Liability Partnership.

5. Represents loan amounting ?1,609 Lakhs (2024: ?1,609 Lakhs) to TIFERT which was compulsorily convertible to equity shares. Based on the terms of conversion, the said loan was due for conversion in June 2023 (originally extended by 2 years from June 2020). The Company is in discussion with TIFERT to further extend this time period for conversion. During the year ended 31 March 2025 and 31 March 2024, the fair value of this loan has been considered as Nil.

6. Pursuant to the Share Purchase Agreement (‘SPA') dated 25 September 2024, the Company through its Wholly Owned Subsidiary (WOS), Coromandel Chemicals Limited (CCL), has acquired additional 8.82% equity stake for a cash consideration of Rs.33.29 crores in addition to its existing stake of 45% in its associate Baobab Mining and Chemicals Corporation, S.A. (BMCC). Upon satisfactory completion of the substantive conditions that give control over BMCC to the Company, BMCC ceases to be an associate and is classified as a subsidiary of the Company with effect from 27 March 2025 and has been consolidated with effect from that date.

7. Pursuant to the restated Joint Venture Agreement, Yanmar Coromandel Agrisolutions Private Limited (YCAS), a joint venture (JV) had allotted additional equity shares to Yanmar Asia (Singapore) Corporation Pte Ltd (Yanmar Singapore) on preferential basis, resulting in a reduction of the Company's stake from 40% to 10.60%. Accordingly, YCAS ceased to be a JV effective 27 September 2024.

16.3 Rights, preferences and restriction relating to equity share capital:

The Company has one class of equity shares having a face value of ?1 each . Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting, except in the case of interim dividend.

16.4 As at 31 March 2025, E.I.D.-Parry (India) Limited (Parent Company) held 16,54,55,580 (2024: 16,54,55,580) equity shares of ?1 each fully paid-up representing 56.16% (2024: 56.19% ) of the paid up capital. There are no other shareholders holding more than 5% of the issued capital.

16.5 Share options granted under the Company’s employee share option plan

As at 31 March 2025, balance number of shares reserved for issue under the ‘ESOP 2016' scheme is Nil (2024: Nil) equity shares of ?1 each and under the ‘ESOP 2023' scheme is 53,58,900 (2024: 53,58,900) equity shares of ?1 each. Share options granted under the Company's employee share option plan carry no rights to dividends and no voting rights. Further details of the employee share option plan are provided in Note 33.

16.6 There are no bonus shares issued and no shares were issued for consideration other than cash except for the shares allotted pursuant to the exercise of stock options during the period of five years immediately preceding the reporting date.

Cumulative redeemable preference shares: The Company has a class of cumulative redeemable preference shares having face value of W10 each with such rights, privileges and conditions respectively attached thereto as may be from time to time confirmed by the regulations of the company. Pursuant to the Scheme of Amalgamation, the cumulative redeemable preference shares carry cumulative dividend of 8% per annum in relation to capital paid upon them and are on original terms and conditions in which they were issued by erstwhile Liberty Phosphate Limited, the amalgamating company.

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholders. Retained earnings include re-measurement gain/(loss) on defined benefit plans, net of taxes that will not be reclassified to Statement of Profit and Loss.

In respect of the year ended 31 March 2025, the Board of Directors at their meeting held on 30 April 2025 have recommended a final dividend of W6 per equity share (600% on face value of W1 per share) and additionally a special dividend of W3 per Equity share (300% on face value of W1 per share).The proposed final dividend is subject to approval by the shareholders at the Annual General Meeting. The total estimated amount to be paid with respect to final dividend is W17,678 Lakhs (which includes dividend of W18 Lakhs on treasury shares) and special dividend is W8,839 Lakhs (which includes dividend of W9 Lakhs on treasury shares).The Board at its meeting held on 30 January 2025 had approved payment of interim dividend of Rs 6 per equity share (600% on face value of Rs 1 per share). The total amount paid with respect to interim dividend is W 17,677 Lakhs. The total dividend is W15 per share (1500% on face value of Rs 1 per share) for the year ended 31 March 2025.

In respect of the year ended 31 March 2024, the Board of Directors at their meeting held on 25 April 2024 have recommended a final dividend of W6 per equity share (600% on face value of W1 per share). The final dividend was approved by the shareholders at the Annual General Meeting. The total amount paid with respect to final dividend is W17,663 Lakhs (which includes dividend of W14 Lakhs on treasury shares).

In resepct of the year ended 31 March 2023, the Board of Directors at their meeting held on 15 May 2023 recommended a final dividend of W6 per equity share (600% on face value of W1 per share). The proposed final dividend was approved by the shareholders at the Annual General Meeting. The total amount paid with respect to final dividend was W17,663 Lakhs.

Pursuant to the special resolution approved by the shareholders in the Annual General Meeting held on 27 July 2023, the Coromandels ESOP Trust was formed to support the Employees Stock Option Scheme, 2023 by acquiring, from the Company or through secondary market acquisitions, equity shares which are used for issuance to eligible employees (as defined therein) upon exercise of stock options thereunder. During the years ended 31 March 2025 and 31 March 2024, an aggregate of 30,400 and Nil equity shares, respectively were issued as a result of the exercise of vested options granted to employees pursuant to the Employees Stock Option Scheme, 2023. The options exercised had an exercise price of 1,087 per share. Upon the exercise of such options, the amount of compensation cost (computed using the grant date fair value) previously recognised in the share based payment reserve was transferred to securities premium in the statement of changes in equity. In addition, any difference between the carrying amount of treasury shares and the consideration received was recognised in the retained earnings. As of 31 March 2025 and 31 March 2024, the ESOP Trust had outstanding 2,96,300 and 2,30,000 shares respectively.

b) Non-current assets are located in India. Non-current assets for this purpose consist of property, plant and equipment, capital work-inprogress, right-of-use assets, other intangible assets and intangible assets under development.

31.6 The Company is currently awaiting clarity with respect to the guidelines and disclosures as per the new reasonable margin guidelines. Pending clarity, the Company has continued to disclose segment reporting as per requirements of the Act and accounting standards.

32. Financial instruments

32.1 Capital management

The Company's capital management objective is to maximise the total shareholder return by optimising cost of capital through flexible capital structure that supports growth. Further, the Company ensures optimal credit risk profile to maintain/enhance credit rating.

The Company determines the amount of capital required on the basis of annual operating plan and long-term strategic plans. The funding requirements are met through internal accruals and long-term/short-term borrowings. The Company monitors the capital structure on the basis of Net debt to equity ratio and maturity profile of the overall debt portfolio of the Company.

For the purpose of capital management, capital includes issued equity capital, securities premium and all other reserves. Net debt includes all long and short-term borrowings as reduced by cash and cash equivalents, Bank deposits and inter-corporate deposits with financial institutions.

The following table summarises the capital of the Company:

32.4 Market risk

The Company's financial instruments are exposed to market rate changes. The Company is exposed to the following significant market risks:

• Foreign currency risk

• Interest rate risk

• Other price risk

Market risk exposures are measured using sensitivity analysis. There has been no change to the Company's exposure to market risks or the manner in which these risks are being managed and measured.

32.4.1 Foreign currency risk management

The Company is exposed to foreign exchange risk on account of following:

1. Nutrient and other allied business has foreign exchange exposure for its imports of raw materials, intermediates and traded goods.

2. Crop Protection segment has foreign exchange exposure on both exports of finished goods and imports of raw materials, intermediates and traded goods.

3. Foreign currency borrowings in the form of buyers credit, packing credit etc. are availed for meeting its funding requirements.

The Company has a forex policy in place whose objective is to mitigate foreign exchange risk by deploying the appropriate hedging strategies through combination of various hedging instruments such as foreign currency forward contracts, options contracts and has a dedicated forex desk to monitor the currency movement and respond swiftly to market situations. The Company follows netting principle for managing the foreign exchange exposure for each operating segment.

e. Foreign currency sensitivity analysis

The Company is mainly exposed to fluctuations in US Dollar. The following table details the Company's sensitivity to a W1 increase and decrease against the US Dollar. W1 is the sensitivity used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only net outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a W1 change in foreign currency rates. A positive number below indicates an increase in profit or equity where the Rupee strengthens by W1 against the US Dollar. For a W1 weakening against the US Dollar, there would be a comparable impact on the profit or equity.

32.6 Liquidity risk management

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. Note 32.8 sets out details of additional undrawn facilities that the Company has at its disposal to reduce liquidity risk.

32.4.2 Interest rate risk management

The Company draws working capital demand loans, avails cash credit, foreign currency borrowings including buyers credit, Packing Credit etc. for meeting its funding requirements.

Interest rates on these borrowings are exposed to change in respective benchmark rates. The Company manages the interest rate risk by maintaining appropriate mix/portfolio of the borrowings.

Interest rate sensitivity analysis

The sensitivity analysis below has been determined for borrowings assuming the amount of borrowings outstanding at the end of the reporting period was outstanding for the whole year. A 10 basis points increase or decrease in case of foreign currency borrowings and 50 basis points increase or decrease in case of rupee borrowings is used when reporting interest rate risk internally to key management personnel and represents management's assessment of the reasonably possible change in interest rates.

If interest rate had been 10 basis points higher/ lower in case of foreign currency borrowings and 50 basis points higher/ lower in case of rupee borrowings and all other variables were held constant, the Company's profit for the year ended 31 March 2025 would decrease/increase by W* lakhs (31 March 2024: W* lakhs).

* Less than W1 lakh

32.4.3 Other price risks

The Company is exposed to equity price risks arising from equity investments. Certain of the Company's equity investments are held for strategic rather than trading purposes. The Company also holds certain other equity investments for trading purposes.

a. Equity price sensitivity analysis

The sensitivity analysis below have been determined based on the exposure to equity price risks at the end of the reporting period.

If equity prices had been 5% higher/lower other comprehensive income/equity for the year ended 31 March 2025 would increase/decrease by Rs. 442 Lakhs (31 March 2024: W290 Lakhs ) as a result of the changes in fair value of equity investments measured at FVTOCI. The impact of change in equity price on profit or loss is not significant.

b. Commodity price risks

The Company's operating activities require the ongoing purchase of rock phosphates, phosphoric acid, sulphur and murate of potash. All being international commodities are subject to price fluctuations on account of the change in the demand supply pattern and exchange rate fluctuations. The Company is not affected by the price volatility of the raw materials as government on a time to time basis, revises the subsidy rates payable to the fertilizer industry based on the market trend.

32.5 Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.

Customer credit risk is managed by each business unit subject to the Company's established policy, procedures and control relating to the customer credit risk management. The Company uses financial information and past experience to evaluate credit quality of majority of its customers and individual credit limits are defined in accordance with this assessment. Outstanding receivables and the credit worthiness of its counterparties are periodically monitored and taken up on case to case basis. The Company evaluates the concentration of risk with respect to trade receivables as low (except Government subsidies which is entirely receivable from Government of India), as its customers are located in several jurisdictions representing large number of minor receivables operating in independent markets.

The credit risk on cash and bank balances, derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies.

For details of financial guarantee, refer note 32.7.

32.7 Financial guarantee contracts

During FY 24-25, the Company granted a guarantee to the lender of its subsidiary, BMCC, for a maximum amount of USD 11 million (W9,403 Lakhs). The Company charges a fee at fair value to the subsidiary for such guarantee and as at the balance sheet date, does not believe that there are any counterparty non-performance risks.

32.8 Financing facilities

The Company has access to financing facilities of which W 1,54,044 Lakhs (as at 31 March 2024: W2,40,085 Lakhs) were unused at the end of the reporting period. The Company expects to meet its other obligations from operating cash flows and proceeds of maturing financial assets.

32.9 Fair value measurements

Some of the Company's financial assets and financial liabilities are measured at fair value at the end of the reporting period. The following table gives information about how the fair values of these financial assets and financial liabilities are determined (in particular, the valuation techniques and inputs used):

b) The above outstanding options have been granted in various tranches and have a weighted average remaining life of 4.46 years (2024: 4.82 years). The exercise price of the outstanding options range from f 319.65 to f 969.45 (2024: f 319.65 to f 969.45). The weighted average share price during the year is f 1,627.81 (2024: f 1,066.88).

c) Number of options exercisable at the end of the year are 2,90,820 (2024: 3,85,410).

d) The fair values of the option were determined using a Black Scholes' model. Where relevant, the expected life used in the model has been adjusted based on management's best estimate for the effects of non-transferability, exercise restrictions, and behavioural considerations. Expected volatility is based on the historical share price volatility over the past 5-6 years.

b) The above outstanding options have been granted in one tranche and have a weighted average remaining life of 6.40 years (2024: 7.32 years). The exercise price of the outstanding options is f 1,087.45 (2024: f 1,087.45). The weighted average share price during the year is f 1,627.81 (2024: f 1,066.88).

c) Number of options exercisable at the end of the year is 1,25,200 (2024 - Nil).

d) The Company has acquired 96,700 (2024: 2,30,000) shares from the secondary market for an aggregate consideration of f 1,548 lakhs (2024: f 2,494 lakhs) as at 31 March 2025.

e) The fair values of the option were determined using a Black Scholes' model. Where relevant, the expected life used in the model has been adjusted based on management's best estimate for the effects of non-transferability, exercise restrictions, and behavioural considerations. Expected volatility is based on the historical share price volatility over the past 5-6 years.

The gratuity plan is governed by the Payment of Gratuity Act, 1972. Employee who has completed five years of service is entitled to specific benefit depending on the employee's length of service and salary at retirement or relieving age. The fund has the form of trust and it is governed by the Board of Trustees which consists of employer and employee representatives. The Board of Trustees is responsible for the administration of plan assets.

The Board of Trustees reviews the level of funding and asset-liability matching strategy in the gratuity plan to keep the scheme adequately funded for settlement of obligations under the plan.

Category of plan assets: Gratuity for employees is covered under a scheme of Life Insurance Corporation of India (LIC) and ICICI Prudential Life Insurance Company Limited (ICICI) which is basically a year-on-year cash accumulation plan. As part of the scheme the interest rate is declared on yearly basis and is guaranteed for a period of one year. The insurance company, as part of the policy rules, makes payment of all gratuity settlements during the year subject to sufficiency of funds under the policy.

ii) Contributions to PF Trust:

Provident Fund Trust is exempted under Section 17 of The Employees' Provident Funds and Miscellaneous Provisions Act, 1952. Conditions for the grant of exemption stipulate that the employer shall make good the deficiency, if any, in the interest rate declared by the Trust over the statutory limit.

The Company has obtained the actuarial valuation of interest rate obligation in respect of provident fund and having regards to the assets of the Fund and the return on the investments, the Company did not recognize any deficiency based on the actuary report obtained.

37A. Proposed acquisition of NACL Industries Limited

On 12 March 2025, the Company entered into a share purchase agreement with the promoters and select public shareholders of NACL Industries Limited (“NACL”) to acquire up to 53.13% of the share capital of NACL for a consideration of Rs. 81,998 lakhs.

Upon execution of Share Purchase Agreements, the Company also triggered a mandatory open offer to acquire 26% of the public shareholding of NACL in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended from time to time, for a consideration of Rs. 40,239 lakhs, if the open offer is fully accepted. The transaction is subject to receipt of requisite regulatory approvals and completion of customary closing conditions post which NACL shall become a subsidiary of the Company.

38. Corporate social responsibility

As per Section 135 of the Companies Act, 2013 (‘Act), 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 focus areas of Company's CSR activities are Education and Health care & while also pursuing CSR activities for the benefit of community around its local areas of operations. The CSR activities of the Company are in line with the Schedule VII of the Act. A CSR committee has been formed by the Company as per the Act. The CSR Committee shall recommend the amount of expenditure to be incurred on the CSR activities to be undertaken by the Company as specified in Schedule VII of the Act, as amended from time to time.

As at 31 March 2025: Nil shares (31 March 2024: 7,34,760 shares) were excluded from the diluted weighted average number of equity shares calculation because their effect would have been anti-dilutive. The average market value of the Company's shares for the purpose of calculating the dilutive effect of stock options was based on quoted market prices, on an exchange where the volumes are higher, for the year during which the options were outstanding.

Contingent liabilities mainly pertain to disputed tax demands under appeal/pending before various appellate/assessing authorities against the Company and litigations with various parties. It is expected that there will be no outflow of economic resources embodying economic benefits. Hence, no provision is considered necessary against the same. The amounts disclosed above represent our best estimate and the uncertainties are dependent on the outcome of the legal processes initiated by the Company or the claimant as the case may be.

Note: The Company was unable to spend the allocated/budgeted amount on Ongoing Projects due to Operational reasons. The unspent CSR amount of f 1,327 lakhs for the financial year 2024-25 (2023-24: f489 lakhs) has been transferred to unspent CSR Account before 30 April 2025 in accordance with provisions of the Companies Act, 2013 read with rules made thereunder. Further, the Company was able to spend the opening unspent amount related to Ongoing Projects amounting to f985 Lakhs in the current year (2023-24: f296 lakhs).

42. During the year, in view of improved presentation, the Company has reassessed presentation of following:

A) Accrued salaries and wages to employees have been reclassified under “Other financial liabilities” which were earlier included in trade payables amounting to Rs. 7,240 lakhs as at March 31, 2025 (Rs. 6,677 lakhs as at March 31, 2024).

B) Interest accrued on cash and cash equivalents, other bank balances and loans amounting to Rs. 8,897 Lakhs as at 31 March 2025 (Rs. 11,269 Lakhs as at 31 March 2024) have been reclassified from other financial assets to respective aforesaid financial statement captions.

C) Interest accrued but not due on financial liabilities amounting to Rs. 1,651 Lakhs as at 31 March 2025 (Rs. 1,525 Lakhs as at 31 March 2024) have been reclassified within other financial liabilities.

The above changes do not impact recognition and measurement of items in the financial statements, and, consequentially, there is no impact on total equity and/ or profit (loss) for the current or any of the earlier periods. Nor there is any material impact on presentation of cash flow statement. Considering the nature of changes, the management believes that they do not have any material impact on the balance sheet at the beginning of the comparative period and, therefore, there is no need for separate presentation of third balance sheet.

46. 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 Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(iii) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

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

(v) The Company does not have 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.The Group does not have 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.

(vi) The Company has the following Core Investment Companies in the group:

1. Cholamandalam Financial Holdings Limited

2. Ambadi Investments Limited.