Commercial Paper will be repayable by 12th March, 2027 and Non-Convertible Debentures will be repayable on 24th April, 2029.

(ii) During the year, the Company has issued 50,000, 8.11% Fully paid, Unsecured, Listed, Rated, Redeemable, Non-Cumulative Rupee denominated, Non-Convertible Debentures amounting to Rs.50,000 Lakhs maturing on 24th April, 2029 for refinancing and/or servicing of existing debt, Investment/Loan into Group Companies, balance if any towards payment of all fees. cost and other expenses in relation to the issue and general corporate purpose. The entire proceeds from the issue of Non-Convetible debentures were utilised for the purpose mentioned in the Debenture Trust Deed. The aforsaid NCDs were subsequently listed on BSE Limited.

(ii) Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of '10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees.

During the year ended 31st March, 2026, the amount of dividend recognized as distributions to shareholders was Rs.15 /- per share which was the final dividend for the financial year ended 31st March, 2025

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.

Notes: Nature and purpose of reserve

(i) Statutory Reserve (Reserve u/s. 45-IC of the Reserve Bank of India Act, 1934 )

Reserve is created as per the terms of section 45-IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve.

(ii) General Reserve

Amounts set aside from retained profits as a reserve to be utilised for permissible specified purpose as per prevaling law for the time being.

(iii) Other Comprehensive Income

The Company has elected to recognise changes in the fair value of investments in equity securities (other than investment in subsidiaries and associate) in other comprehensive income. These changes are accumulated within the"Equity instruments through other comprehensive income" within equity.

(iv) Retained Earnings

Surplus in the statement of profit and loss is the accumulated available profit of the Company carried forward from earlier years. These reserves are free reserves which can be utilised for any purpose as may be required.

Note No. 33 : Corporate social responsibility ("CSR") expenses :

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 areas for CSR activities are healthcare including preventive healthcare, providing safe drinking water, sanitation facility, promoting education, old age home maintenance, environmental sustainability and promotion and development of traditional art and handicrafts. A CSR committee has been formed by the company as per the Act.

Note No. 34 : Lease Disclosures (a) As lessee

During the period ended 31st March, 2026 the expense recognized in the statement of profit and loss includes:

(i) Rental Expenses recorded for Short-term lease ? 39.08 Lakhs for the year ended 31st March, 2026 (Previous Year: ? 31.35 Lakhs)

(b) Operating lease commitments - as lessor

The Company has let out portions of office premises along with furniture and fixtures and other amenities on operating lease. It has recognised lease rental income amounting to ' 110.29 Lakhs and ' 119.81 Lakhs for the year ended 31st March 2026 and 2025 respectively in the statement of profit and loss.

Note No. 35 : Segment reporting

Operating segment are components of the Company whose operating results are regularly reviewed by the Chief Operating Decision Maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance and for which discrete financial information is available.

The Company is engaged primarily in the business of "Investments and Financing" activities only, taking into account the risks and returns, the organization structure and the internal reporting systems. All the operations of the Company are in India. Accordingly, there are no separate reportable segments as per Ind AS 108 - "Operating segments".

Under the Micro, Small and Medium Enterprises Development Act, 2006 ("MSMED Act") which came into force from 2nd October, 2006, certain disclosures are required to be made relating to micro, small and medium enterprises. There have been no reported cases of delays in payments to micro and small enterprises or of interest payments due to delays in such payments.

No effect has been given in the financial statements in respect of the following equity shares received by way of fully paid bonus shares on shares not belonging to the company and the shares of other companies apportionable to the holding of these shares received pursuant to scheme of arrangement and the same are being held in trust by the company.

Note No. 39 :

These financial statements were approved by the Board of Directors on 28th May, 2026, whereas the decision to recommend a final dividend shall be taken at the adjourned meeting of the Board of Directors to be held on 4th June, 2026.

Note No. 40 :

Following table represents the recognised financial assets that are offset, or subject to enforceable master netting arrangements and other similar arrangements but not offset, as at 31st March 2026 and 31st March 2025. The column 'net amount' shows the impact of the Company's balance sheet if all the set-off rights were exercised.

Note No. 42 : A. The Company's application to Reserve Bank of India ("RBI") for conversion from Non- Banking Financial Company to Core Investment Company has since been approved by RBI and the Company has received fresh Certificate of Registration as a Core Investment Company dated 27th May, 2025.

B. Disclosures required under the relevant directions of Reserve Bank of India have been given under Annexure-1 to these financial statements

Note No. 43 :

Pursuant to a regulatory advice to divest certain investments within a given timeframe, the company sold / disposed off the same (Refer Note No: 6) resulting in loss arising therefrom, which has been shown under the head "Net loss on derecognition of financial instruments under amortised cost category" in the Statement of Profit and Loss for the year.

(a) Defined contribution plan

The Company's contribution to provident fund are considered as defined contribution plans. The Company's contribution to provident fund aggregating ' 26.11 lakhs (31st March, 2025: ' 20.23 lakhs) has been recognised in the statement of profit and loss under the head employee benefits expense.

(b) Defined benefit plan:

Gratuity

The Company operates a defined benefit plan (the "gratuity plan") covering eligible employees. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member's length of service and salary at retirement age/ resignation date.The Company has used the salary definition for Gratuity and where applicable, eligibility/ vesting conditions- changed pursuant to the Company implementing the Code on Social Security, 2020 effective 21st November, 2025. The valuation results accordingly reflect the revised provisions. Past service cost amounting to Rs.9.17 lakhs has arisen on account of the imlementation of the Code on Social Security, 2020, primarly due to change in the definition of qualyfying wages and the applicability of the benefits to eligible employee categories.

The defined benefit plans expose the Company to risks such as actuarial risk, liquidity risk, legislative risk.

These are discussed as follows:

Actuarial risk: It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:

Adverse salary growth experience: Salary hikes that are higher than the assumed salary escalation will result into an increase in obligation at a rate that is higher than expected.

Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the gratuity benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the acceleration of cash flow will lead to an actuarial loss or gain depending on the relative values of the assumed salary growth and discount rate.

Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption than the gratuity benefits will be paid earlier than expected. The impact of this will depend on whether the benefits are vested as at the resignation date.

Liquidity risk: Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of benefits. If some of such employees resign / retire from the Company, there can be strain on the cash flows.

Legislative risk: Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the legislation/regulation. The government may amend the Code on Social Security, 2020, thus requiring the companies to pay higher benefits to the employees. This will directly affect the present value of the defined benefit obligation and the same will have to be recognized immediately in the year when any such amendment is effective.

There has been no events after the reporting date that require disclosure in financial statements.

Note No. 49 : On 21st November, 2025, the Government of India notified 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 (collectively, the "Labour Codes"), consolidating 29 existing labour laws. The corresponding rules under these codes are notified on 8th May, 2026.

The Company has assessed the incremental impact of these changes based in an actuarial valuation and has recognised a net incremental impact of ' 9.17 lakhs towards past service cost in respect of employee benefit plans, which is included under "Employee Benefits Expense" for the year ended 31st March, 2026. Further, the Company continues to monitor the finalisation of all the relevant Rules, along with further clarifications from the Government on other aspects of the Labour Codes and will recognise any further accounting impact as and when required based on future developments.

B. Measurement of fair values

i) Valuation techniques and significant unobservable inputs

The carrying amounts of financial assets and liabilities which are at amortised cost are considered to be the same as their fair values as there is no material differences in the carrying values presented.

ii) Financial instruments - fair value

The fair value of financial instruments as referred to in note (A) above have been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurement).

The categories used are as follows:

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices;

Level 2: The fair value of financial instruments that are not traded in active market is determined using valuation technique which maximizes the use of observable market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair value on instrument are observable, the instrument is included in level 2; and

Level 3: If one or more of significant input is not based on observable market data, the instrument is included in level 3.

iii) Transfers between levels I and II

There has been no transfer in between level I and level II.

iv) Valuation techniques Investment in equity instruments

The majority equity instruments held by the Company are actively traded on stock exchanges with readily available active prices on a regular basis. Such instruments are classified as level 1.

Investments in mutual Funds are valued as per the NAV prevailing at the end of the financial years and such investments are classified as level 1.

Equity investments in unquoted instruments are fair valued using the valuation technique and accordingly classified as level 3.

C. Capital

The Company maintains an actively managed capital base to cover risks inherent in the business and is meeting the capital adequacy requirements of the NBFC's Sector regulator and supervisor, RBI. The adequacy of the Company's capital is monitored using, among other measures, the regulations issued by RBI.

The Company has complied in full with all its externally imposed capital requirements over the reported period. Equity share capital and other equity are considered for the purpose of Company's capital management.

C.1 Capital management

The primary objectives of the Company's capital management policy are to ensure that the Company complies with externally imposed capital requirements and maintains strong credit ratings and healthy capital ratios in order to support its business and to maximise shareholder value.

The Company manages its capital structure and makes adjustments to it according to changes in economic conditions and the risk characteristics of its activities. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividend payment to shareholders, return capital to shareholders or issue capital securities. No changes have been made to the objectives, policies and processes from the previous years. However, they are under constant review by the Board.

Note No. 51 : Financial risk management objectives and policies:

The Company's principal financial liabilities comprise borrowings and trade payables. The main purpose of these financial liabilities is to finance the Company's operations and to support its operations. The Company's financial assets include Investments, Loan, Trade Receivables and Cash and Cash equivalents that derive directly from its operations.

The Company is exposed to credit risk, liquidity risk and market risk. The Company's board of directors has an overall responsibility for the establishment and oversight of the Company's risk management framework. The board of directors has established the risk management committee, which is responsible for developing and monitoring the Company's risk management policies. The committee reports to the board of directors on its activities.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed to reflect changes in market conditions and the Company's activities.

The Company's risk management committee oversees how management monitors compliance with the Company's risk management policies and procedures and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.

1) Credit risk

Credit risk is the risk of financial loss to the Company if a customer fails to meet its contractual obligations and arises principally from the Company's receivables from customers and loans.

The carrying amounts of financial assets represent the maximum credit risk exposure.

Trade Receivables

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry.

An impairment analysis is performed at each reporting date based on the facts and circumstances existing on that date to identify expected losses on account of time value of money and credit risk. For the purposes of this analysis, the trade receivables are categorised into groups based on days past due.

Investments

The investments of the Company are in the group companies which includes investment in subsidiaries companies and an associate.

The company has also made investments in the units of mutual funds on the basis of risk and returns of the respective scheme.

Cash and cash equivalent and Bank deposits

Credit risk on cash and cash equivalent and bank deposits is limited as the Company generally invests in term deposits with banks.

2 a) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting its obligations associated with its financial liabilities. The Company's approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due.

The Company is monitoring its liquidity risk by estimating the future inflows and outflows during the start of the year and planned accordingly the funding requirement. The Company manages its liquidity by term loans, inter-corporate deposit and investment in mutual funds.

The table below summarises the maturity profile of the Company's non-derivative financial liabilities based on contractual undiscounted payments along with its carrying value as at the balance sheet date.

3) 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 includes interest rate risk and foreign currency risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

4) 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. Floating rate instruments exposes the Company to Cash flow interest risk, whereas fixed interest rate instruments expose the Company to fair value interest risk.

5) Expected Credit Loss

Expected Credit loss is a calculation of the present value of the amount expected to be lost on a financial asset, for financial reporting purposes. Credit risk is the potential that the obligor and counterparty will fail to meet its financial obligations to the lender. This requires an effective assessment and management of the credit risk at both individual and portfolio level.

The key components of Credit Risk assessment are:

1. Probability of Default (PD): represents the likelihood of default over a defined time period/horizon.

2. Exposure at Default (EAD): represents the total gross amount the Company is exposed to, when the obligator/ borrower defaults on a financial obligation.

3. Loss Given Default (LGD): represents the proportion of EAD that is likely to be lost post-default.

The definition of default is taken as 90 days past due for all retail and corporate loans.

Delinquency buckets have been considered as the basis for the staging of all loans in the following manner:

• 0-30 days past due loans classified as stage 1

• Between 31-90 days past due loans classified as stage 2 and

• Above 90 days past due loans classified as stage 3

Credit Quality of Assets

Dislosures as required under in Para 7(13) of Reserve Bank of India (Core Investment Companies) Directions, 2025 read with Para 21(C.1) of Reserve Bank of India (Non-Banking Financial Companies-Financial Statements: Presentation and Disclosures) Directions, 2025.

Note No. 53 : i. The company has no immovable property whose title deeds are not held in the name of the company.

ii. The Company has not revalued its Property, Plant and Equipment accordingly disclosure as to whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable to the Company.

iii. No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, for the financial year 2025-26.

iv. The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.

v. The company has not entered into any transactions with companies which are struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 during the financial year ended 31st March, 2026.

vi. During the year Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources 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.

vii. During the year 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.

viii. The Company has no such transaction which are not recorded in the books of accounts during the year and also there are not such unrecorded income and related assets related to earlier years which have been recorded in the books of account during the year.

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

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

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

Note 54: Previous year figures have been regrouped / reclassified whereever necessary.

Note 55: The above financial statements have been reviewed by the audit committee and subsequently approved by the Board of Directors at its meeting held on 28th May, 2026.