1. Refer note 23 for information on borrowing costs capitalised during the year

2. Refer note 28 (ii) for information on contractual commitments for acquisition of property, plant and equipment

3. Refer note 34(ii) for information on property, plant and equipment where the Company is a lessor under operating lease

4. Refer note 41 for information on property, plant and equipment pledged as security

5. Freehold land includes Rs. 1.56 crores (March 31,2023 - Rs 1.56 crores) pending registration in favour of the Company. Also refer note 52

6. Capital work in progress includes Rs 212.12 crores ( March 31,2023 - Rs 132.28 crores) on account of project development expenditure.

1. Created under relevant Act/statutes and will be utilized as per the Companies Act, 2013/ other relevant acts. For movement during the year, refer 'Statement of standalone changes in equity'.

2. Shares held by trust under ESPS represents cost of 10,04,974 (March 31,2023 - 11,61,474) equity shares purchased and held by the Employee Benefit trust under ESPS scheme.

(a) Includes Rs 267.56 crores against advance received from customers balance as at April 1,2023 (Previous year - Rs 275.27 crores)

(b) Includes Rs 4.53 crores on account of differential urea subsidy accrued for earlier periods based on notification issued by 'Fertiliser Industry Coordination Committee (FICC), Government of India, in pursuance of the Retention Price Scheme administered for nitrogenous fertilisers (Previous year - Rs 36.02 crores).

(c) The Company does not have any contracts where the period between the transfer of the promised goods to the customer and payment by the customer exceeds one year. Accordingly, the Company has not adjusted transaction prices for the time value of money.

In accordance with its accounting policy and past practice, the Company accrues revenue credits for urea subsidy claims pending notification/ final acceptance by ‘Fertiliser Industry Coordination Committee’ (FICC), Government of India, in pursuance of the Pricing Scheme administered for nitrogenous fertilisers. The total amount receivable on account of such claims as on March 31,2024 is Rs 90.43 crores (March 31,2023 : Rs. 310.22 crores).

Necessary adjustments to revenue credits so accrued will be made on issuance of notification by FICC, Government of India.

30 Segment reporting

A. Operating segments and principal activities:

Operating segments are defined as components for which discrete financial information is available and whose results are reviewed regularly by the chief operating decision maker (CODM), for allocation of resources and assessing performance. Accordingly, the following segments have been identified as under:

Fertilisers (manufacturing of urea), Chloro-Vinyl (manufacturing of poly-vinyl chloride, carbide and chlor alkali products), Shriram Farm solutions (Plant nutrients, seeds and pesticides), Sugar (manufacturing of sugar, ethanol and co-generation of Power), Bioseed (production of hybrid seeds), Fenesta building system (Windows and doors), Others (Cement, Rural retail and plaster of paris). Sale of power from the co-generation facilities set up for the operating segments is included in their respective results.

B. Geographical segments:

Since the Company's activities/ operations are primarily within the country and considering the nature of products/ services it deals in, the risks and returns are same and as such there is only one geographical segment.

C. Segment accounting policies:

In addition to the material accounting policies applicable to the operating segments as set out in note 1.3, the accounting policies in relation to segment accounting are as under:

(i) Segment revenue and expenses:

Joint revenue and expenses of segments are allocated amongst them on a reasonable basis. All other segment revenue and expenses are directly attributable to the segments.

(ii) Segment assets and liabilities:

Segment assets include all operating assets used by a segment and consist principally of operating cash, trade receivables (net of allowances and provision), inventories and property, plant and equipment, which are reported as direct offsets in the balance sheet. Segment liabilities include all operating liabilities and consists principally of trade payables. Segment assets and liabilities do not include deferred income taxes. While most of the assets/ liabilities can be directly attributed to individual segment, the carrying amount of certain assets/ liabilities pertaining to two or more segments are allocated to the segments on a reasonable basis.

(iii) Inter segment sales:

Inter segment sales between operating segments are accounted for at market price. These transactions are eliminated in consolidation.

D. Revenue from major products:

Revenue from major products is given in note 58

F. Information about revenue from a single party exceeding 10% of the total revenue

Revenue from fertilizer subsidy income from ‘Fertiliser Industry Coordination Committee' (FICC), Government of India amounted to Rs.1,299.53 crores (Previous year : Rs. 1,775.88 crores) arising from sales in the fertilizers segment, and has outstanding receivable of Rs. 90.43 crores as at 31 March, 2024 (31 March, 2023 : Rs. 310.22 crores).

31 Related party disclosures

Name of related party as per Ind AS 24 and nature of related party relationship

1. Holding company: Sumant Investments Private Limited

2. Subsidiaries:

(i) DCM Shriram Credit and Investments Limited, Bioseed India Limited, DCM Shriram Infrastructure Limited, DCM Shriram Aqua Foods Limited, Hariyali Rural Ventures Limited, Fenesta India Limited, Shriram Bioseed Ventures Limited, Bioseed Research Philippines Inc., Bioseeds Holdings PTE. Ltd., Shriram Polytech Limited ( Formerly Shriram Axiall Private Limited) , Bioseed Research USA Inc., DCM Shriram Bio Enchem Ltd., DCM Shriram ProChem Ltd., DCM Shriram Ventures Ltd., Shriram Agsmart Ltd., Bioseeds Limited¹

1 merged with Shriram Bioseed Ventures Limited w.e.f. April 27, 2022

(ii) Subsidiaries incorporated under section 8 of Companies Act 2013:

DCM Shriram Foundation, Shridhar Shriram Foundation

3. Associate : Renew Green (GJ Ten) Private limited (w.e.f. Februray 23, 2023)

Renew Green (GJ Nine) Private limited (w.e.f. May 18, 2023)

4. Key Managerial Persons, HUFs and close members of the family of key managerial persons:

(i) Executive Directors, HUFs and close family members of executive directors (with whom transactions are there):

(a) Executive Directors

Mr. Ajay S. Shriram, Mr. Vikram S. Shriram, Mr. Ajit S. Shriram, Mr. K.K. Kaul*, Mr. K.K. Sharma, Mr. Aditya A. Shriram**.

*upto July 01,2023 *from July 02, 2023

(b) HUFs and Close family members of executive directors

Ms. Prabha Shridhar, Mr. Anand A. Shriram , Mr. Pranav V. Shriram , Mr. Varun A. Shriram , Ms. Anuradha Bishnoi , Ms. Kavita V. Shriram, Ms. Richa A. Shriram, Ms.Tara A. Shriram, Ms.Vandana A. Shriram, Ms. Nainika V. Shriram, Ms. Geeta Kaul*, M/s. Ajay S. Shriram (HUF), M/s. Vikram S. Shriram (HUF), and M/s. Ajit S. Shriram (HUF).

*upto July 01,2023

(ii) Independent Directors and close members of the family of independent directors (with whom transactions are there):

Mr. Pradeep Dinodia, Mr. Vimal Bhandari, Mr. Sunil Kant Munjal, Mrs. Ramni Nirula, Justice (Retd.) Vikramjit Sen, Mr. Pravesh Sharma, Ms. Sarita Garg (Nominee of LIC)*, Mr. Ravi Narayan Mishra (Nominee of LIC)**.

*upto October 31,2023 **from November 01,2023

(f) Major categories of plan assets

The plan assets at one of the unit are maintained with LIC of India Gratuity Scheme. The details of investment maintained by LIC are not available and have therefore not been disclosed.

(g) The Company expects to contribute Rs. 1.43 crores to the LIC fund during the year 2024-25 (previous year - Rs. 1.26 crores).

(h) The average expected future working life of members of the defined benefit obligation as at March 31,2024 is 16.00 years (as at March 31,2023: 15.90 years)

33. (a) Fair value

The fair value of the Company's investment properties as at March 31,2024 and March 31,2023 have been arrived at on the basis of a valuation carried out by government approved independent valuers. The inputs used in fair valuation are circle rate of the property, prevailing market price of the similar kind of property in that area and other relevant factors.

(c) The Company's leasing activities:

The Company has entered into lease agreements for lease of offices, showrooms, godowns etc., generally for a period of 6 months to 11 years with renewal option and which can be terminated after lock-in-period by serving notice period as per the terms of the agreements.

Further, BHP has converted the loan outstanding amounting to Rs.20.90 crores of DCM Shriram Limited into Equity share capital.

(ii) During the previous year ended March 31,2023, the Company received Rs 53.78 crores interest income (income tax impact : Rs 18.56 crores) relating to earlier years from Shriram Bioseed Ventures Limited. The same had been recognised in ‘Other Income’ in the standalone financial statements

36. During the year, donations include political contributions to Prudent Electoral Trust Rs 7.5 crores, Bhartiya Janta Party Rs 2.75 crores and through Electoral bonds Rs 5 crores (previous year: Electoral bonds Rs 5 crores) made in accordance with Section 182 of the Act. The Company, supplemented by external legal advice, has considered the Supreme Court judgement dated February 15, 2024, including the directions to the State Bank of India and the Election Commission of India on furnishing and public disclosure of information in respect of the Electoral bonds. Political contributions via Electoral Bonds for the year ended March 31,2024, were made by the Company prior Hon'ble Supreme Court judgement on February 15, 2024.

1. Includes given to related parties [refer note 31(b)]

2. Unspent amount relates to ongoing projects for which the activites are planned in subsequent years. As per section 135(6) of the Companies Act, the said unspent amount relating to ongoing projects have been deposited in "Unspent CSR Bank account"

39. Research and development expenses included under relevant heads in the statement of profit and loss Rs. 52.87 crores (Previous year - Rs. 57.90 crores). 40 Employee share based payments (refer note 12)

The Company has an Employees Stock Purchase Scheme (DCM Shriram ESPS) which is administered through DCM Shriram Employees Benefits Trust based on acquisition of shares from the market to provide equity based incentives to employees under the Scheme. The shares offered, lock-in-period and grant price may be different for different eligible participants and determined at the time of every grant of shares. The expenses related to the grant of shares under the Scheme is accounted for on the basis of the fair value (which equals to market price of the Company's share on date of grant less exercise price) of share on the date of grant and is amortized on a straight line basis over the lock-in period, if any.

44 Capital management

The Company endeavours to optimize debt and equity balance and provide adequate strength to the balance sheet. The Company monitors capital on the basis of debt equity ratio.

45 Financial risk management

The Company's activities expose it to various financial risks : Credit risk, Liquidity risk and Market risk.

45.1 Credit risk management

Credit risk arises from credit exposure to customers (including receivables and deposit), loans and other financial assets. The Company perform credit evaluation and defines credit limits for each customer/counter party. The Company also continuously reviews and monitors the same.

The provision for doubtful debts or provision for impairment of investments etc is made on case to case basis, based on the information related to financial position, past history/ageing and other relevant available information about the counter party.

The Company also makes provision for lifetime expected credit loss based on its previous experience of provision/write off in previous years.

45.2 Liquidity risk management

(i) The Company manages liquidity by ensuring control on its working capital which involves adjusting production levels and purchases to market demand and daily sales of production and low receivables. It also ensures adequate credit facilities sanctioned from bank to finance the peak estimated funds requirements. The working capital credit facilities are continuing facilities which are reviewed and renewed every year.

45.3 Market Risk

a) The Company's operations are mainly in India and therefore rupee denominated, except the following:

- Foreign currency denominated loans (Long term & Short term)

- Imports of some raw material, stores & spares and capital equipments

- Export of finished goods

The Company follows a policy of keeping these liabilities/assets fully hedged against foreign currencies. Regarding interest rate fluctuation, it follows a policy of partial hedge.

Some of the rupee liabilities have interest linked to the bank's MCLR or Financial market benchmark rates and are subject to variation in such rates.

50 Hon'ble High Court of Allahabad vide its order dated February 12, 2019 has set aside and quashed the notification withdrawing the Sugar Industrial Promotion Policy 2004 (Policy). The State Government has filed special leave petition (SLP) with Supreme Court against the above said order. The Company has not accrued the benefits consequent to the above said order due to uncertainties of the amount and the collection thereof.

51 The Board of Directors, in its meeting held on May 06, 2024, have recommended a final dividend of Rs. 2.60 /- per equity share of Rs 2/- each aggregating to Rs. 40.54 crores for the financial year ended March 31,2024. The recommendation is subject to the approval of shareholders at the forthcoming Annual General Meeting.

1. Net debt = Total borrowings - cash and cash equivalents - bank balances other than cash and cash equivalents (other than earmarked balances)

2. Earnings = Profit before tax ( ) Depreciation and amortisation ( ) Finance cost (-) interest and dividend income (-) net gain/(loss) on sale of current investments

3. Net finance charges = Finance cost (including interest capitalised on qualifying assets during construction period) (-) interest and dividend income (-) net gain/(loss) on sale of current investments

4. Average networth¹'¹ = On year end closing basis

"Net worth = Equity share capital other equity (excluding share held by trust under ESPS and cash flow hedging reserve)

5. Average inventory On quarter closing basis*

6. Average trade receivables = On quarter closing basis*

7. Total purchases = Cost of raw material consumed Consumption of stores and spares Purchases of stock-in-trade Change in inventories of raw material and stores & spares

8. Average trade payables = On quarter closing basis*

9. Average working capital¹"¹ = On quarter closing basis*

"'Working capital = Current assets - Current liabilities

10. Average capital employed¹"' = On quarter closing basis*

"'Capital employed = Total assets [excluding Investments, Cash and cash equivalents, bank balances other than cash and cash equivalents (other than earmarked balances), Capital work in progress, Capital advances and Intangible assets under development] - Total liabilities [excluding total borrowings, Capital creditors and Deferred tax assets/(liabilities)(net)]

11. Profit before interest, depreciation and tax (EBIDTA) = Profit before tax ( ) Depreciation and amortisation ( ) Finance costs

* Opening and closing numbers are audited, while, quarter ended June, September, December numbers are based on unaudited books of accounts