1. Nature of operations:

D. B. Corp Limited (the ‘Company’) is in the business of publishing newspapers, radio broadcasting, digital platform
for news and event management. The Company is a public limited company domiciled in India. The major brands in
publishing business are ‘Dainik Bhaskar’ (Hindi daily), ‘Divya Bhaskar’ and ‘Saurashtra Samachar’ (Gujarati dailies),
‘Divya Marathi’ (Marathi daily) and monthly magazines such as ‘Aha Zindagi’, ‘Bal Bhaskar’, etc. Digital business
includes mobile applications and websites of dainikbhaskar.com, divyabhaskar.com, dailybhaskar.com, divyamarathi.
com and bhaskarenglish.in. Presently, the Company’s radio station is on air in 30 cities under the brand name ‘My
FM’. The frequency allotted to the Company’s radio station is 94.3.

The Company derives its revenue mainly from the sale of its newspaper and magazines and advertisements published
in the newspaper, displayed on websites/portal and aired on radio.

2. Basis of Preparation

2.1 Compliance with Ind AS

The Standalone Financial Statements (hereinafter refer to as "Standalone Financial Statements” or "Financial
Statements”) comply in all material aspects with Indian Accounting Standards (Ind AS) notified under Section 133
of the Companies Act, 2013 (the ‘Act’) [Companies (Indian Accounting Standards) Rules, 2015] and other relevant
provisions of the Act.

The Standalone Financial Statements are prepared on a going concern basis. The Standalone Financial Statements
have been prepared under the historical cost basis except for derivative financial instruments and certain other financial
assets and liabilities that have been measured at fair value.

2.2 New and amended standards adopted by the Company

The Ministry of Corporate Affairs vide notification dated September 09, 2024 and September 28, 2024 notified the
Companies (Indian Accounting Standards) Second Amendment Rules, 2024 and Companies (Indian Accounting
Standards) Third Amendment Rules, 2024, respectively, which amended/ notified certain accounting standards (see
below), and are effective for annual reporting periods beginning on or after April 01, 2024:

• Insurance contracts - Ind AS 117; and

• Lease Liability in Sale and Leaseback - Amendments to Ind AS 116

These amendments did not have any impact on the amounts recognised in prior periods and are not expected to
significantly affect the current or future periods.

2.3 New and amended standards issued but not effective

There are no standards that are notified and not yet effective as on the date.

Current v/s Non-current classification

The Company presents assets and liabilities in the balance sheet based on Current/Non-current classification.

An asset is treated as Current when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period

All other assets are classified as Non-current.

A liability is Current when:

• It is expected to be settled in normal operating cycle

• It is held primarily for the purpose of trading

• It is due to be settled within twelve months after the reporting period, or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

The Company classifies all other liabilities as Non-current.

Deferred tax assets and liabilities are classified as Non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents. The Company has identified period of twelve months as its operating cycle.

3. Critical estimates and judgments:

The preparation of Standalone Financial Statements requires the use of accounting estimates which, by definition,
will likely differ from the actual results. Management also needs to exercise judgement in applying the Company’s
accounting policies.

This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items
which are more likely to be materially adjusted due to final outcomes deviating from estimates and assumptions
made. Detailed information about each of these estimates and judgements is included in relevant notes together with
information about the basis of calculation for each affected line item in the Standalone Financial Statements.

Critical estimates and judgments

The areas involving critical estimates and judgements are:

(i) Impairment of trade receivables (Refer Note 13)

(ii) Impairment for investment properties and advance for properties [Refer Note 5 and 11(b)]

(iii) Estimation of defined benefit obligations (Refer Note 23)

(iv) Estimated fair value of unquoted securities (Refer Note 8)

(v) Estimation of provisions and contingent liabilities (Refer Note 37)

(vi) Estimation of current tax expense and current tax payable (Refer Note 22)

(vii) Determination of lease term [Refer Note 4(b)]

4 (a) Property, plant and equipment (including Capital work-in-progress)

Accounting policy

Freehold land is carried at historical cost. All other items of Property, plant and equipment is stated at cost less
accumulated depreciation and accumulated impairment losses, if any. Historical costs include expenditure that is
directly attributable to the acquisition of the items.

In respect of its interests in jointly controlled assets, the Company recognises its share of the jointly controlled assets
in its Standalone Financial Statements, classifying the jointly controlled asset as per its nature.

Transition to Ind AS

On transition to Ind AS, the Company has elected to continue with the carrying value of all of its Property, plant and
equipment measured as per the previous GAAP and use that carrying value as the deemed cost of the Property, plant
and equipment.

Depreciation methods, estimated useful lives and residual value

Depreciation is calculated using the straight-line method to allocate the cost of the assets, net of their residual values,
over their estimated useful lives as follows:

Leasehold improvements are depreciated over the shorter of their useful life or the lease term, unless the entity expects
to use the assets beyond the lease term.

The Company provides depreciation on Property, plant and equipment using the straight line method based on the
management estimated useful lives of the assets which are as prescribed under the Part C of Schedule II to the Act
in order to reflect the actual usage of the assets, except in case of Solar Power Plant, where useful life is based on
technical evaluation done by the Management taking into account the nature of the assets, their estimated period of
use and the operating conditions, as useful life of Solar Power Plant is not expressly defined under the Schedule II to
the Companies Act, 2013. The residual values are not more than 5% of the original cost of the assets.

For other accounting policies relevant to Property, plant and equipment Refer Note 47(j).

Notes:

1) Plant and machinery includes Company’s share in common transmission infrastructure used in Radio business
which are jointly controlled assets as at March 31, 2025:

Gross block - ' 187.28 million (March 31, 2024: ' 187.28 million)

Net block - ' 38.58 million (March 31, 2024: ' 42.70 million)

2) For information on property, plant and equipment pledged as security by the Company, Refer Note 18 and 46.

3) For assets given on lease Refer Note 36.

4) Refer Note 38 for disclosure of Contractual Commitments for acquisition of property, plant and equipments.

5) Capital work-in-progress mainly comprises of Building and Plant & Machinery (March 31, 2024: Building).

6) There is no capital-work-progress whose completion is overdue or has exceeded its cost compared to its original
plan. Hence, disclosure required as per schedule III has not been presented.

7) For title deeds details Refer Note 45 (xiii) (a).

4 (b) Right-of-use assets

Accounting policy
As a lessee

The Company leases various offices (Building), Land, Plant and Machinery and Vehicles. Rental contracts are typically
made for fixed periods of 1 to 99 years but may have extension options.

Contracts may contain both lease and non-lease components. The Company allocates the consideration in the contract
to the lease and non-lease components based on their relative standalone prices. However, for leases of real estate for
which the Company is a lessee, it has elected not to separate lease and non-lease components and instead accounts
for these as a single lease component.

Lease terms are negotiated on an individual basis and contain wide range of different terms and conditions. The lease
arrangements do not impose any covenants other than the security interests in the leased assets that are held by the
lessor.

The lease payments that are not paid at the commencment date are discounted using the interest rate implicit in the
lease. If that rate cannot be readily determined, which is generally the case for leases in the Company, the lessee’s
incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds
necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar
terms, security and conditions.

To determine the incremental borrowing rate, the Company:

- where possible, uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases
held by Company, which does not have recent third-party financing, and

- makes adjustments specific to the lease, e.g., term, country, currency and security.

Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight¬
line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated
over the underlying asset’s useful life.

Payments associated with short-term leases of equipment and all leases of low-value assets are recognised on a
straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less,
without a purchase option. Low-value assets comprise IT equipment and small items of office furniture.

For other accounting policies relevant to Leases Refer Note 47(d)

(iii) Variable lease payments

The Company does not have any leases with variable lease payments.

(iv) Extension and termination options

Extension and termination options are included in a number of Property, plant and equipment lease across the
Company. These are used to maximise operational flexibility in terms of managing the assets used in the Company’s
operations.

Critical judgement in determining the lease term

In determining the lease term, management considers all facts and circumstances that create an economic incentive
to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination
options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).

For leases of buildings, the following factors are normally the most relevant:

- If there are significant penalties to terminate (or not extend), the Company is typically reasonably certain to extend
(or not terminate).

- If any leasehold improvements are expected to have a significant remaining value, the Company is typically
reasonably certain to extend (or not terminate).

- Otherwise, the Company considers other factors including historical lease durations and the costs and business
disruption required to replace the leased asset.

Most extension options in building/office leases have not been included in the lease liability, because the Company
could replace the assets without significant cost or business disruption.

The lease term is reassessed if an option is actually exercised (or not exercised) or the Company becomes obliged to
exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant
change in circumstances occurs, which affects this assessment, and that is within the control of the lessee.

(v) For debt reconciliation Refer Note 18.

5 Investment properties

Accounting policy

Investment properties consists of land and buildings (residential and commercial), are held for capital appreciation and
are not occupied by the Company. They are carried at cost including related transaction costs. Subsequent expenditure
is capitalised to the asset’s carrying amount only when it is probable that future economic benefits associated with the
expenditure will flow to the Company and the cost of the item can be measured reliably.

Investment properties are depreciated using straight line method to allocate cost of assets over their estimated useful
lives. Investment properties generally have useful life of 30-60 years.

Estimation of fair value

The best evidence of fair value is current prices in an active market for similar properties. Where such information is
not available, the Company consider information from a variety of sources including current prices in an active market
for properties of different nature or recent prices of similar properties in less active markets, adjusted to reflect those
differences.

The fair values of investment properties have been determined by independent valuers and / or management’s internal
assessment. The fair value was derived using the market comparable approach based on recent market prices without
any significant adjustments being made to the market observable data (fair value hierarchy is Level 2).

6 Intangible assets
Accounting policy

Intangible assets consist of One time license fees (entry fees and migration fees) paid to get the license for Radio
stations and Computer Software.

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible
assets are carried at cost less any accumulated amortisation and accumulated impairment losses, if any. Costs
associated with maintaining software programmes are recognised as and when expenses are incurred.

Financial Assets
Accounting Policy

(i) Classification of financial Assets at amortised cost

The Company classifies its financial assets at amortised cost only if both of the following criteria are met:

- the asset is held within a business model whose objective is to collect the contractual cash flows, and

- the contractual terms give rise to cash flows that are solely payments of principal and interest.

Financial assets classified at amortised cost comprise trade receivables, deposits and other receivables.

(ii) Classification of financial Assets at fair value through other comprehensive income
Financial assets at fair value through other comprehensive income (FVOCI) comprise:

- Equity securities (listed and unlisted) which are not held for trading, and for which the Company has irrevocably
elected at initial recognition to recognise changes in fair value through OCI rather than profit or loss. These are
strategic investments and the Company considers this classification to be more relevant.

- Debt securities where the contractual cash flows are solely principal and interest and objective of the Company’s
business model is achieved both by collecting contractual cash flows and selling financial assets.

There are currently no debt securities which are carried at FVOCI.

Financial assets classified at FVOCI comprise investments in equity securities (listed and unlisted).

(iii) Classification of financial Assets at fair value through profit or loss

The Company classifies the following financial assets at Fair Value through Profit or Loss (FVTPL):

- debt investments (mutual funds) that do not qualify for measurement at either amortised cost or FVOCI

- equity investments held for trading, and

- equity investments for which the entity has not elected to recognise fair value gains and losses through OCI.
Financial assets classified at FVTPL comprise investments in mutual funds.

(iv) Investments in mutual funds and equity instruments

Investment in mutual funds and equity instruments are classified as fair value through profit or loss as they are not
held within a business model whose objective is to hold assets in order to collect contractual cash flows and the
contractual terms of such assets do not give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding. Where the Company’s management has elected to present fair value
gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair
value gains and losses to the statement of profit and loss. The Company makes such election on an instrument-by¬
instrument basis. The classification is made on initial recognition and is irrevocable. Dividends from such investments
are recognized in profit or loss as other income when the Company’s right to receive payments is established.

(v) Derivatives

Derivatives are only used for economic hedging purposes and not as speculative investments. However, where
derivatives do not meet the hedge accounting criteria, they are classified as "held for trading” for accounting purposes

and are accounted for at FVTPL. The Company uses forward currency contracts, to hedge its foreign currency risks.
They are presented as current assets or liabilities to the extent they are expected to be settled within 12 months after
the end of the reporting period.

Further information about the derivatives used by the Company is provided in Note 47(v).

7 Investments in subsidiary
Accounting Policy

Investments in subsidiary are carried at cost and are tested for impairment in accordance with Ind AS 36 Impairment
of Assets. Cost comprises price paid to acquire investment and directly attributable cost.

A subsidiary is an entity controlled by the Company. Control exists when the Company has power over the entity, is
exposed, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns
by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant
activities, those which significantly affect the entity’s returns.

Investments in subsidiaries are carried at cost. Cost comprises price paid to acquire investment and directly attributable
cost.

Investment in preference shares are measured at Fair Value through Profit and Loss.

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*Refer Note 35 for details of advances to related parties and firms/companies in which director is a partner, or a
director or a member.

For information on other current assets pledged as security by the Company, Refer Note 18 and 46.

12 Inventories

Accounting policy

Inventories are valued at lower of cost and net realisable value. Cost of individual items of inventory are determined on
a weighted average basis. Volume rebates or discounts are taken into account while estimating the cost of inventory
if it is probable that they have been earned and will take effect.

Notes:

(a) Write down of inventories to net realisable value amounting to ' Nil (March 31, 2024: ' Nil). These were
recognised as an expense during the year.

(b) For information on inventories pledged as security by the Company, Refer Note 18 and 46.

(c) Pursuant to the ongoing litigation between the vendor and the shipping line, the shipping line has withheld
the Delivery Order. Consequently, the Company is unable to take possession of the goods of ' 84.01 million
despite having the Bill of Entry in its name and paid the applicable customs duties. Accordingly, these goods
have been classified as "Goods in Transit”, with the corresponding liability reflected under Trade Payables.

13 Trade Receivables
Accounting policy

Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of
business and reflects Company’s unconditional right to consideration (that is, payment is due only on the passage of
time).

Trade receivables are recognised initially at the transaction price as they do not contain significant financing
components. The Company holds the trade receivables with the objective of collecting the contractual cash flows and
therefore measures them subsequently at amortised cost using the effective interest method, less loss allowance.

For trade receivables and contract assets, the Company applies the simplified approach required by Ind AS 109, which
requires expected lifetime losses to be recognised from initial recognition of the receivables.

The receivable is "unbilled” because the Company has not yet issued an invoice; however, the balance has been
included under trade receivables (as opposed to contract assets) because it is an unconditional right to consideration.

Trade receivable are non-interest bearing and generally on terms of 0 - 90 days.

For information on trade receivables pledged as security by the Company, Refer Note 18 and 46.

Refer Note 42 for information on the Allowance Matrix and changes in ECL provisions.

There are no disputed trade receivables, hence disclosures required as per Schedule III have not been presented.

14 Cash and cash equivalents
Accounting Policy

For the purpose of presentation in the Standalone Statement of Cash Flows, Cash and cash equivalents includes cash
on hand, deposits held at call with financial institutions/banks, other short-term, highly liquid investments with original
maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value, and bank overdrafts.

* There are no repatriation restrictions with regard to Cash and cash equivalents as at the end of the reporting period
and prior periods.

For information on cash and cash equivalents pledged as security by the Company, Refer Note 18 and 46.

15 Bank balances other than cash and cash equivalents
Accounting Policy

Other bank balances comprises, term deposits with banks, which have original maturities of more than three months.
Such assets are recognized and measured at amortised cost (including directly attributable transaction cost) using the
effective interest method, less impairment losses, if any.

*These amounts do not include any amount, due and outstanding, to be credited to Investor Education and Protection
Fund.

** I ncludes fixed deposits with banks amounting to ' 14.23 million (March 31,2024: Nil), which are under lien in favour
of the customer and have been issued as security for tender submissions in the ordinary course of business.

For information on current bank balances other than cash and cash equivalents pledged as security by the Company,
Refer Note 18 and 46.

16 Share capital

Accounting policy

Equity shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are
shown in equity as deduction, net of tax, from the proceeds.

(a) Terms / rights attached to each class of shares
Equity shares

The Company has only one class of equity shares having a par value of ' 10 per share. Each holder of equity shares
present at a meeting in person or by proxy is entitled to one vote per share.

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 shareholders.

(e) Shares reserved for issue under options

For details of shares reserved for issue under the Employee Stock Option Schemes (‘ESOS’) of the Company, Refer
Note 39.

(f) The Company during the preceding 5 years

i. Has not allotted shares pursuant to contracts without payment received in cash.

ii. Has not issued shares by way of bonus shares.
iii Has not bought back any shares.

i) Second Interim Dividend of ' 3 per share for the year ended March 31, 2023 was proposed and declared by the
board of directors in their meeting dated May 19, 2023. The same has been paid to all eligible shareholders as
on the record date May 31, 2023 by the Company.

ii) First interim Dividend of ' 3 per fully paid Equity Share of face value of ' 10 each, was proposed and declared by
the board of directors in their meeting dated July 20, 2023. The same has been paid to all eligible shareholders
as on the record date August 01, 2023 by the Company.

iii) Second interim Dividend of ' 2 per fully paid Equity Share of face value of ' 10 each, was proposed and declared

by the board of directors in their meeting dated October 26, 2023. The same has been paid to all eligible

shareholders as on the record date November 07, 2023 by the Company.

iv) Third Interim Dividend of ' 8 per fully paid Equity Share of face value of ' 10 each for the year ended March 31,

2024 was proposed and declared by the Board of Directors in their meeting dated May 22, 2024. The same has

been paid to all eligible shareholders as on the record date June 03, 2024 by the Company.

v) During the year, the Board of Director has proposed and declared First interim Dividend of ' 7 per fully paid Equity

Share of face value of ' 10 each, in their meeting dated July 16, 2024 The same has been paid to all eligible

shareholders as on the record date July 29, 2024 by the Company.

vi) During the year, the Board of Director has proposed and declared Second Interim Dividend of ' 5 per fully paid

Equity Share of face value of ' 10 each in their meeting dated October 15, 2024. The same has been paid to all
eligible shareholders as on the record date October 25, 2024 by the Company.

Nature and purpose of Reserves:

a) Share application money pending allotment

Share application money pending allotment represents amount received from employees who has exercised employee
stock options scheme (ESOS) for which shares are pending allotment as on balance sheet date.

b) Capital Redemption Reserve:

As per the Companies Act, 2013, Capital Redemption Reserve is created when Company purchases its own shares
out of free reserves or securities premium. A sum equal to the nominal value of shares so purchased is transferred to
capital redemption reserve.

c) Securities Premium Reserve:

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

d) Stock option outstanding account:

The stock options outstanding account is used to recognise the grant date fair value of options issued to employees
under Employee stock option plan.

e) General Reserve:

General reserve is a free reserve and is available for distribution as dividend, issue of bonus shares, buy back of the
Company’s securities. It was created by transfer of amounts out of distributable profit.

f) FVOCI - Equity Instruments

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other
comprehensive income. These changes are accumulated within the FVOCI equity instruments reserve within equity.
The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are
derecognised.

g) Retained Earnings

Amount of retained earnings represents accumulated profit and losses of the Company as on reporting date. Such
profits and losses are after adjustments of payment of dividend and transfer to any reserves as statutorily required.

(a) Cash credit facilities:

Cash credit facilities from banks were secured by first pari-passu charge on the entire current assets and second pari-
passu charge on the entire movable fixed assets of the Company with other consortium bankers. During the year the
Company has not used the facility. Refer Note 46 for details of assets pledged as security.

(b) Buyers’ credit facilities:

(i) Secured buyers’ credit facilities from banks are secured by first charge on the current assets and second charge
on moveable fixed assets of the Company with other consortium bankers. Interest rates for buyers’ credit are
multiline rates during the year ranging between 1.01% p.a. to 1.44% p.a. (March 31, 2024: between 1.01% p.a.
to 1.08% p.a.). They are repayable within 90 days to 180 days. Refer Note 46 for details of assets pledged as
security.

(ii) Interest rates for unsecured buyers’ credits are multiline rates during the year ranging between 1.00% p.a. to
1.48% p.a. (March 31, 2024: between 0.99% p.a. to 6.17% p.a.). They are repayable within 90 days to 180 days.

* Includes interest accrued but not due on borrowing ' 1.84 million (March 31, 2024: ' 0.22 million)

** While the Company entered into other foreign exchange forward contracts with the intention of reducing the foreign
exchange risk on import purchases, these other contracts are not designated in hedge relationships and are
measured at fair value through profit or loss.

@ Employee related payables includes ' 0.02 million (March 31,2024 : Nil) salary payable to relatives of key managerial
personnel, Refer Note 35.

# No amounts are due and outstanding to be credited to Investor Education and Protection Fund.

22 Taxation

Critical accounting Judgement and key sources of estimation of taxes uncertainties and valuation:

The Company calculates income tax expense based on reported income. Deferred income tax expense is calculated
based on the differences between the carrying value of assets and liabilities for financial reporting purposes and
their respective tax basis that are considered temporary in nature. Valuation of deferred tax assets dependent on
management’s assessment of future recoverability of the deferred tax benefit. Expected recoverability may result from
expected taxable income in the future, planned transactions or planned tax optimizing measures. Economic conditions
may change and lead to different conclusion regarding recoverability.

The Company is subject to tax assessments and ongoing proceedings, which are pending before various Tax Appellate
Authorities. Management periodically evaluates the positions taken in tax returns with respect to above matters,
including unresolved tax disputes, which involves interpretation of applicable tax regulations and judicial precedents.
Current tax liability and tax asset balances are presented, after recognising as appropriate, provision for taxes payable
and contingent basis management’s assessment of outcome of such ongoing proceedings and amounts that may