Walchandnagar Industries Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2024

1. The above financial results have been prepared in accordance with Indian Accounting Standard as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 and the Companies (Indian Accounting Standard) Amendment Rules, 2021.

2. The above Financial Results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at its meeting held on August 07, 2024.

3. The company is engaged in segments namely Heavy Engineering, Foundry, Machine shop and Others. These segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker.

4. During the quarter the "Other Income" includes Rs 2059 lakh towards profit on sale of land and gain on surrender of lease hold land's rights.

Company is executing KK-I and KK-II project of TNEB which are expected to be completed during the Financial Year 2024-25. Eexpected cost overrun in completion of these projects of Rs. 1069 Lakhs has been recognized in the books in Q1 FY 2024-25 which is included in Cost of material and Sub-contracting Expenses. This has been done incompliance to applicable IND AS.

5. During the Quarter the Company has recognized expense of Rs. 10 lakhs (Rs. 11 lakhs for the Q-1 F.Y. 2023-24) under the ESOP scheme 2020 under "Employee Benefit Expenses".

6. Figures for the previous periods have been regrouped/reclassified where necessary, to confirm to the current period classification.