xiii) Provision, contingent liabilities and contingent assets

a) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, 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. When the Company
expects some or all of a provision to be reimbursed, the expense relating to a provision is presented in the
statement of profit and loss net of any reimbursement.

b) Onerous Contracts

Provision for onerous contracts. i.e. contracts where the expected unavoidable cost of meeting the obligations
under the contract exceed the economic benefits expected to be received under it, are recognised when it is
probable that an outflow of resources embodying economic benefits will be required to settle a present
obligation as a result of an obligating event based on a reliable estimate of such obligation.

c) Contingent Liability and Asset

The Company uses significant judgements 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 financial statements.

xiv) Employee benefits

a) Short-term employee benefits

All employee benefits payable wholly within twelve months of rendering the service are classified as Short
Term Employee benefits. Benefits such as salaries are recognized as an expense at the undiscounted
amount in the Statement of Profit and Loss of the year in which the employee renders the related service.

b) Post employee benefits
Defined Contribution Plans:

A defined contribution plan is post-employee benefit plan under which an entity pays a fixed contribution to a
separate entity and will have no legal or constructive obligation to pay further amounts. The Company makes
specified monthly contributions towards provident fund scheme and superannuation fund. Obligations for
contributions to defined contribution plans are recognised as an employee benefit expenses in the statement
of profit and loss in the periods during which the related services are rendered by employees.

Defined Benefit Plans:

Gratuity

A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Company's
net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the
amount of future benefit that employees have earned in the current and prior periods, discounting that
amount and deducting the fair value of any plan assets. The calculation of defined benefit obligation is
performed annually by a qualified actuary using the projected unit credit method. When the calculation
results in a potential asset for the Group, the recognised asset is limited to the present value of economic
benefits available in the form of any future refunds from the plan or reductions in future contributions to the
plan (‘the asset ceiling'). In order to calculate the present value of economic benefits, consideration is given
to any minimum funding requirements. Remeasurement of the net defined benefit liability, which comprise

actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if
any, excluding interest), are recognised in OCI. The Company determines the net interest expense (income)
on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the
defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability (asset),
taking into account any changes in the net defined benefit liability (asset) during the period as a result of
contributions and benefit payments. Net interest expense and other expenses related to defined benefit
plans are recognised in profit or loss. When the benefits of a plan are changed or when a plan is curtailed,
the resulting change in benefit that relates to past service (‘past service cost' or ‘past service gain') or the
gain or loss on curtailment is recognised immediately in profit or loss. The Company recognises gains and
losses on the settlement of a defined benefit plan when the settlement occurs. Company's liability towards
Gratuity to past employees is determined using the Projected Unit Credit actuarial cost method which
considers each period of service as giving rise to an additional unit of benefit entitlement and measure each
unit separately to build up the final obligation Past services are recognized on a straight line basis over the
average period until the amended benefits become vested. Obligation is measured at the present value of
estimated future cash flows using a discounted rate that is determined by reference to market yields at the
Balance Sheet date on Government Securities where the currency and estimate terms of the defined benefit
obligations.

c) Other long-term employee benefits

All employee benefits (other than post-employment benefits and termination benefits) which do not fall due
wholly within twelve months after the end of the period in which the employees render the related services
are determined based on actuarial valuation or discounted present value method carried out at each balance
sheet date. The expected cost of accumulating compensated absences is determined by actuarial valuation
performed by an independent actuary as at April 1, every year using projected unit credit method on the
additional amount expected to be paid / availed as a result of the unused entitlement that has accumulated at
the balance sheet date. Expense on non-accumulating compensated absences is recognised in the period in
which the absences occur. Long service awards are recognised as a liability at the undiscounted value of the
defined benefit obligation as at the balance sheet date.

xv) Cash and cash equivalents

Cash and cash equivalents includes cash on hand, demand deposits held with financial institution, other
short-term, highly liquid investments with original maturities of three months or less that are readily convertible
to know cash and which are subject to an insignificant risk of changes in value.

xvi) Earnings per share

Basic earnings per share (‘BEPS') is computed by dividing net profit or loss for the period attributable to
equity shareholders by the weighted average number of equity shares outstanding for the period.

The weighted average number of equity shares outstanding during the year is adjusted for events, if any,
such as bonus issue, bonus elements in a rights issue to existing shareholders, shares split and reverse
shares split (consolidation of shares).

Diluted earnings per share (‘DEPS') is computed by dividing the net profit or loss for the period attributable to
equity shareholders and the weighted average number of equity shares considered for deriving basic earnings
per share and also the weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares.

Dilutive potential equity shares are deemed converted as of the beginning of the year, unless issued at a
later date. In computing diluted earnings per share, only potential equity shares that are dilutive and that
either reduces earnings per share or increases loss per share are included. The number of shares and
potentially dilutive equity shares are adjusted retrospectively for all periods presented for the share splits.

xvii) Cash flow statements

Cash flows are reported using indirect method, whereby net profits before tax is adjusted for the effects of
transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
The cash flows from regular operating, investing and financing activities of the Company are segregated.

xviii) Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief
Operating Decision Maker (CODM) of the Company. The Chief Operating decision-maker, who is responsible
for allocating resources and assessing performance of the operating segments has been identified as the
Board of Directors that makes strategic decisions.

6.1 During Previous Year, The Hon'ble National Company Law Tribunal (‘NCLT'), Kolkata Bench, vide its Order
dated January 1, 2024 and the Hon'ble NCLT, Mumbai Bench, vide its Order dated October 20, 2023
sanctioned the Scheme of Amalgamation amongst Tata Steel Limited and The Tinplate Company of India
Limited and their respective shareholders. Effective January 15, 2024, Tinplate Company of India Limited
stands amalgamated into and with the Company.

In accordance with the share exchange ratio provided in the Scheme of Amalgamation, on January 21,2024,
the Company allotted 33 fully paid-up equity shares of face value Re 1/- each of Tata Steel Limited for every
10 fully paid-up equity shares of face value Rs. 10/- each of The Tinplate Company of India Limited, held by
eligible shareholders of The Tinplate Company of India Limited as on the record date i.e., Friday, January 19,
2024 (‘Record Date').

16.3 Nature and purpose of reserves

a Capital Reserve: This reserve represents amount of State Cash Subsidy on fixed capital investment
received from State government.

b Securities Premium Reserve : This reserve represents amount received in excess of face value of the
equity shares recognised as Share Premium.

c Capital Redemption Reserve: This reserve represents amount transferred for the preference shares
redeemed.

d General Reserve : This reserve represents a portion of the net profit transferred to general reserve
before declaring dividend.

e Retained Earnings : 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.

f Items of Other Comprehensive Income:

(i) Remeasurements of the defined benefit plans.

(ii) Fair Valuation of Equity Instruments.

19.1 Cash Credit from Bank of Baroda, DBS Bank India Ltd. and ICICI Bank Ltd. are Secured by way of a pari
passu charge by Hypothecation of Stocks of raw material, Work-in-Progress, Finished Goods, Book Debts,
Stores & Spares and Movable Machinery at Kanjari and Anand. The cash credit accounts are further secured
by the first charge by way of equitable mortgage on the Company's factory land and building of Metal Can
Division situated at village Kanjari & Office premises situated at Anand, in the state of Gujarat.

Applicable Rate of Interest is ranging from 8.75% p.a. to 10.00% p.a. (March 31,2024: 9.25% p.a. to 10.65%
p.a.).

19.2 There were no material discrepancies were observed in books of accounts and amounts reported in quarterly
statement submitted by the company to banks. Further, there is no default by the Company in filing above
statement with Banks.

19.3 The Company has satisfied all the covenants prescribed in terms of borrowings.

20.1 Due to Micro, Small and Medium Enterprises

Micro and small enterprises as defined under the Micro Small and Medium Enterprises Development Act
2006 (MSMED Act) have been identified on the basis of the information available with the Company. The
disclosures pursuant to MSMED Act based on the books of account are as under:

There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding
for more than 45 days as at March 31,2025. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have
been identified on the basis of information available with the company. The auditors have relied on the
information provided by the management.

Some of the Trade Payables balance are subject to confirmation.

28A Disclosure as required under Ind AS 19 - Employee Benefits

[A] Defined contribution plans:

The Company makes contributions towards provident fund and superannuation fund to defined contribution
retirement benefit plan for qualifying employees. The provident fund contributions are made to Government
administered Employees Provident Fund. Both the employees and the Company make monthly contributions
to the Provident Fund Plan equal to a specified percentage of the covered employee's salary.

The superannuation fund is administered by the Life Insurance Corporation of India. Under the plan, the
Company is required to contribute a specified percentage of the covered employee's salary to the retirement
benefit plan to fund the benefits.

The Company recognised Rs. 56.57 lakhs ( for March 31,2024 Rs. 54.66 lakhs) for provident fund contributions
in the Statement of Profit and Loss.

[B] Defined benefit plan:

The Company makes annual contributions to “Kaira Can Company Employees Gratuity Fund”, a funded
defined benefit plan for qualifying employees. The scheme provides for payment to vested employees as
under:

i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of Payment of
Gratuity Act, 1972 with vesting period of 5 years of service.

ii) On death in service: As per the provisions of Payment of Gratuity Act, 1972 without any vesting period.

The following table sets out the status of the gratuity plan and the amounts recognised in the Company's
financial statements as at March 31,2025.

The carrying amounts of trade receivables, electricity deposit, cash and cash equivalents and other
short term receivables, trade payables, unclaimed dividend, borrowings, capital creditors and other current
financial liabilities are considered to be the same as their fair values, due to their short-term nature.
For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair
values.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed
equity instruments, traded bonds and mutual funds 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
period.

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.

B Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments.

- the fair value of forward foreign exchange contracts is determined using forward exchange rate as
at the balance sheet date.

39 Financial risk management and policies

The company's activities expose it to market risk, liquidity risk and credit risk. This note explains the sources
of risk which the entity is exposed to and how the entity manages the risk.The company's risk management
is carried out by finance department of the Company. The Finance department identifies, evaluates and
hedges financial risks in close co-operation with the Company's operating units. The Board provides written
principles for overall risk management, as well as policies covering specific areas, such as foreign exchange
risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments,
and investment of excess liquidity.

(a) Credit Risk

Credit risk is the risk of incurring a loss that may arise from a borrower or debtor failing to make required
payments. Credit risk arises mainly from outstanding receivables from debtors, cash and cash equivalents,
employee advances and security deposits. The Company manages and analyses the credit risk for each of
its new clients before standard payment and delivery terms and conditions are offered.

(i) Credit risk management

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer.
The demographics of the customer and including the default risk of the industry, also has an influence on
credit risk assessment. Credit risk is managed 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.

The Company considers the probability of default upon initial recognition of asset and whether there has
been a significant increase in credit risk on an ongoing basis through each reporting period. To assess
whether there is a significant increase in credit risk the Company compares the risk of default occurring on
asset as at the reporting date with the risk of default as at the date of initial recognition. It considers
reasonable and supportive forward looking information such as:

i) Actual or expected significant adverse changes in business;

ii) Actual or expected significant changes in the operating results of the counterparty;

iii) Financial or economic conditions that are expected to cause a significant change to the counterparty's
ability to meet its obligations;

iv) Significant increase in credit risk on other financial instruments of the same counterparty;

v) Significant changes in the value of the collateral supporting the obligation or in the quality of the third—
party guarantees or credit enhancements.

Financial assests are written off when there is no reasonable expectations of recovery, such as a debtor
failing to engage in a repayment plan with the Company. Where loans or receivables have been written off,
the Company continues to engage in enforcement activity to attempt to recover the receivable due. Where
recoveries are made, these are recognized as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables based on historical trend, industry
practices and the business environment in which the entity operates. We have evaluated percentage of
allowance for doubtful debts with the trade receivables over the years:

(b) Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral
obligations without incurring unacceptable losses. The Company ensures sufficient cash and marketable
securities and the availability of funding through an adequate amount of committed credit facilities to meet
obligations when due. Due to the dynamic nature of the underlying businesses, the Treasury maintains
flexibility in funding by maintaining availability under committed credit lines. 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.

(i) Financing Arrangements

The company had access to undrawn fund based borrowing facilities amounting to Rs. 1,369.00 lakhs
(Rs. 1,750.00 lakhs as at March 31,2024).

(ii) Maturities of financial liabilities

The tables herewith analyse the Company's financial liabilities into relevant maturity groupings based
on their contractual maturities for:

The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within
12 months equal their carrying balances as the impact of discounting is not significant.

(c) Market risk

(i) Foreign currency risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates
and equity prices - will affect the Company's income or the value of its holdings of financial instruments.
The objective of market risk management is to manage and control market risk exposures within
acceptable parameters, while optimising the return. The risk is measured through a forecast of foreign
currency for the Company's operations. The Companys exposure to foreign currency risk at the end of
the reporting period expressed in INR, are as follows:

(d) Capital Management

Capital includes equity attributable to the equity holders to ensure that it maintains an efficient capital
structure and healthy capital ratios in order to support its business and maximise shareholder value. The
Company manages its capital structure and makes adjustments to it, in light of changes in economic
conditions or its business requirements. To maintain or adjust the capital structure, the Company may adjust
the dividend payment to shareholders, return capital to shareholders or issue new shares. No changes were
made in the objectives, policies or processes during the year ended March 31,2025 and March 31,2024.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt.
Net debt is calculated as loans and borrowings less cash and cash equivalents.

40 Additional Disclosures
a Wilful Defaulter

The company is not declared as a wilful defaulter by any bank or financial Institution or other lender.
b Details of Benami Property held

No proceedings have been initiated during the year or are pending against the Company as at March
31, 2025 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as
amended in 2016) and rules made thereunder.

c Undisclosed income

The Company does not have any 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.

d The Company has not revalued any of its property, plant and equipment (including Right of Use assets)
and intangible assets during the year.

e No funds have been advanced or loaned or invested by company to any intermediary and no funds
have been received by the company to act as intermediary.

f The company has not traded or invested in Crypto currency or Virtual currency during the financial
year.

g Relationship with Struck off Companies

The Company has no transactions with struck off companies.
h No Registration or satisfaction of charges are pending to be filed with Registrar of Companies.

i The Company has not entered into any scheme of arrangement.

a) Debt Service Coverage Ratio increase due to lower utilisation of working capital facilities during the
year.

b) Net Capital Turnover ratio increase due to increase in sales & reduction in working capital.

c) Return on investment (Equity) is decreased year on year due to adverse movement in the fair value
of investments.

41 The Parliament has approved the Code on Social Security, 2020 which subsumes the Provident Fund and
the Gratuity Act and rules there under. The Central Government on March 30, 2021 has deferred the
implementation of the said Code. The date is yet to be notified. The Company will assess and account the
impact of the Code once the Code becomes effective.

42 Event occuring after Reporting Date:

Subsequent events are tracked and evaluated by the Company. Necessary adjustments / disclosures have
been provided in the financial statements for significant subsequent events.