Andhra Cement Ltd. — Annual Report 2024

May 14, 2024

Subsidiary of SAGAR CEMENTS LIMITED

'.i.t •• ANDH*

CEMENTS LIMITED

Ref. ACL.SE:2024

Ref. ACL.SE:2024 14[th ] May, 2024 The Manager The Manager Listing Department Listing Department Na tional Sto ck Exchange of India Ltd BSE Limi ted Exchange Plaza, C-1, G-Block 25[th ] Floor, New Trading Ring, Bandra-Kurla Complex, Bandra (E), P J Towers, Dalal Street, Fort Mumbai-400051 Mumbai-400 001 NSE Symbol: ACL BSEScripCode-532141

Dear Sirs

• Sub: Regulation 33 of SEBI (LODR) Regulations 2015 - Furnishing of Audited Financial Results for the quarter and year ended March 31, 2024.

In continuation of our letter dated 6[th ] May, 2024, we wish to inform you that our Board of Directors at their meeting held on today took on record and approved the Audited Financial Results for the quarter/ year ended March 31, 2024.

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we enclose the following:

• a) Statements showing the Audited Financial Results (Standalone and Consolidated) for the quarter/ year ended March 31, 2024;

• b) Auditors' Report on the Financial Results

• c) Declaration with regard to Auditor's Report being an unmodified one.

We also furnishing the details of Outstanding Qualified Borrowings and Incremental Qualified Borrowings for the financial year ending March 31, 2024.

The above said meeting of the Board of Directors commenced at 11.00 a.m. and concluded at 1.45 p.m.

We would request you to kindly take the above information/ documents on record

Thanking you,

Yours truly,

For ANDHRA CEMEN TS LTD G.� COMPAN Y SECRET ARY M. No. F2818

Encl; As Above

g • orpora e ice. . +91. 40 23351571. 2335 I 572 Fax: +91-40-23356573 , T IN: 37AABCA9263D2ZQ I E-mapil��:=s�orc�ll@ andhrace�ents.com I CIN: L26942APl936PLC002379 I GS Re d Office & Works : Durga Cement Works, Durgapuram, Srinagar Post, Dachepalli Manda!, Palnadu District, A.P - 522414. Vizag Unit: Visakha Cement Works, Parlupalem Village, Durganagar Post, Visakhapatnam - 530029, A.P. C t Offi . Plot No 111 Road No 10 Jubilee Hills, Hyderabad - 500033,Telangana , India. ndhracements.com dhracements.com ments.com ents.com nts.com ts.com Phone: +91 8649-257441 / 42 I Fax: +91 8649-257428

Website: www.andhracements.com dhracements.com ments.com ents.com nts.com ts.com

ANDHRA C EMENTS LIMITED C IN No: L26942 APl936PLC002379

Sri Durga Cement Works, Sri Durgapuram, Srinagar Post, Dachepalli Mand al, Palnad u Distric t, Andhra Pradesh - 522 414, Phone: +9 18649 257441 Fax: +91 8649 257428, Em ail: investorcell@andhracements.com, Website: www.andhracements.com

STATEMENT OF FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024

				(� in lakhs exccnt per share data and unless otherwise stated)	(� in lakhs exccnt per share data and unless otherwise stated)	(� in lakhs exccnt per share data and unless otherwise stated)	(� in lakhs exccnt per share data and unless otherwise stated)	(� in lakhs exccnt per share data and unless otherwise stated)	(� in lakhs exccnt per share data and unless otherwise stated)
SI. No.			Particulars	Quarter ended Year ended
				March 31, 2024		December 31, 2023	March 31, March 31, 2023 2024		March 31, 2023
				(Unaudited) (Refer note7)		(Unaudited)	(Unaudited) /Refernote7)	(Audited)	(Audited) /Refernote7)
I			Income
			(a) Revenue fom operations	9,184		9,792	~~-~~	26,811	~~-~~
			_(b)_Other income	746		44	10 10	851 27,662	**48 **
			Total income	9,930		9,836			48
2			Exnenses
		(a) Cost of materials consumed		1,283		1,227	~~-~~	4,248	~~-~~
		(b) Changes in inventories of finished goods and work-in- I progress		521		(200)	33	(l ,924) l,326	33
		(c) Employee benefts expense		390		342	243		744
		(d) Finance costs		l,761		2,000	(10,964)	7,054	l,567
		(e) Deoreciation and amortisation exoense		l,492		l,559	l,180	5,641	4,679
		~~(~~I)Power and fuel exoenses		4,255		5,332	23	14,982	105
		(g) Freight and forwarding exoense		l,787		l,482	~~-~~	4,478	~~-~~
		(h) Other expenses		l,408 12,897		l,151	1,049	4,025	l,713
		Total exnenses				12,893	(8 436)	39,830	8,841
3		I/Loss)/ nrofit before exceptional items and tax (I- 2)		**(2,967) **		**(3,057) **	8,446	(12,168)	(8,793)
4		Exceotional items (Refer note SA and 58)		~~-~~		~~-~~	97,163	1,479	97 163
5		l(Lossl/nrofit befre tax (3+4)		**(2,967) **		(3,057)	1,05,609	(10,689)	88,370
6		Tax expense				-
		(a) Current tax		~~-~~			~~-~~	-	~~-~~
		_(b)_Deferred tax		(1,089)		(938)	(6,592)	(4,128)	(6,592)
		Total tax expense		(1,089)		(938)	(6,592)	(4,128)	(6,592)
7		Netfloss)/nrofitforthe period/ year(5-6)		(,878)		**(2,119) **	1,12,201	(6,561)	94 962
8		Other Comnrehensive Income
		(i) Remeasurements gain on defned benefit olans		(2)		~~-~~	~~-~~	/2)	~~-~~
		(ii) Income tax relating to items that will not be reclassified to proft or loss		l		-	-	l	-
		Total Other Comprehensive Income		/I) (,879)		~~-~~	~~-~~	~~(~~	~~-~~
9		Total Comprehensive (loss)/ Income (7+8)				**(2,119) **	1,12,201	(6,562)	94 962
10			Paid up equity share capital (Face value of � 10 per share) /Refer note 4)					9,217	9,217
II			Other eauitv					20,464	26,307
12			Earings per share of� 10 each
			l(a) Basic (in�) l~~i~~b) Diluted (in�)	(2.04) (2 04)		(230) (2.30)	53.64 53.64	(7 12) (7.12)	34.82 34.82
				~~(~~*~~)**~~		~~(~~*~~)**~~	~~(~~*~~)**~~

(*) - Not Annualised

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Balance Sheet		(�in lakhs)
Particulars		As at March 31, 2024 (Audited) 81,465 13 17 20 1,244 10,721 646 As at March 31, 2023 (Audited) (Refer note7) 73,818 2,630 - - 17 6,592 1,367
ASSETS Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Right of use assets (d) Intangible assets (i) Other Intangible assets ( e) Financial assets (i) Other financial assets (f Deferred tax assets (net) (g) Other non-current assets Total Non-current assets (1) Current assets (a) Inventories (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than Cash and cash equivalents ( iv) Other financial assets ( c) Other current assets (d) Current tax assets (net) Total Current assets (2) Asset held for sale (3)(Refer note 6) TOTAL ASSETS (1+2+3) EQUITY AND LIABILITlES Equity (a) Equity share capital (b) Other equity Total Equity (I) Liabilities Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Other financial liabilities (b) Provisions ( c) Other non-current I iabil ities Total Non-current liabilities (2) Current liabilities (a) Financial liabilities (i) Borrowings (ia) Lease liabilities (ii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises (b) total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Other fnancial liabilities (b) Provisions (c) Other current liabilities Total Current liabilities (3) TOTAL EQUITY AND LIABILITIES (1+2+3)
		94,126 84,424
		5,919 3,851 1.071 1,625 250 931 56 517 - 4.370 926 7 632 5
		13,703 6,457
		137 ~~-~~
		l,07,966 9,217 20,464 90,881 9,217 26,307
		29,681 35,524
		63,652 530 186 385 64,753 52,491 - 159 - 52,650
		3,867 17 4,126 3,339 935 37 1.211 13,532 l,07,966 - - 5 285 2,190 68 159 2,707 90,881

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Statement of cash fows for the year ended March JI, 2024		( f	in lakhs)	in lakhs)
	For the year ended	For the year ended
Particulars	March JI, 2024	March JI, 2023
	(Audited)	(Audited) (Refer note 7)
ACash fow from operating activities
(Loss)/ profit before tax	(10,689)		88,370
Adjustments for
Depreciation and amortization expense	5,641	4,679
Finance costs	7,054	1,567
Interest income	(99)	(47)
Impairment losses / (reversal) on property, plant and equipment (net) (Proft)/ loss on sale of property, plant and equipment (net)	(1,479) (751)	4,709 55
Liabilities no longer required written back	(I)	-
Obsolete inventory written off	-	207
Exceptional income (Refer note 5B) Unrealised gain on freign currency transactions and translation	- (4)	(1,01,872) -
	10,361		(90,702)
Operating loss before working capital changes	(328)		(2,332)
Changes in working capital
Adjustments for (increase)/decrease in operating assets:
Trade receivables	(3,851)	5
inventories	(5,402)	58
Other fnancial assets	(895)	(7)
Other assets	(331)	(774)
	(10,479)		(718)
Adjustments for increase/(decrease) in operating liabilities:
Trade payables Other fnancial liabilities	7,180 (40)	3,628 (674)
Provisions	(6)	-
Other liabilities	1,052	-
	8,186		2,954
Cash used in operating activities	(2,621)			(96)
Less: Income tax paid	(51)			(5)
Net cash used in operating activities	(2,672)		(101)
BCash flow from investing activities
Capital expenditure on property, plant and equipment including capital advances	(11,396)	(2,733)
Deposits not considered as cash and cash equivalents
- Placed	(700)	(827)
- Matured	-	-
Proceeds from disposal of property, plant and equipment	2,403	-
Interest received	98	47
Net cash used in investing activities	(9,595)		(3,513)
CCash fow from fnancing activities
Proceeds from allotment of equity shares	-	32,223
Proceeds from non-current borrowings	8,963	50,080
Proceeds of loan from related party	4,000	-
Repayment of non-current borrowings	(2)	-
Proceeds from current borrowings (net)	2,067	(36,159)
Repayment of lease liabilities	( 16)	-
Interest paid	(6,044)	(38,161)
Net cash generated from financing activities	8,968		7,983
Net (decrease)/ increase in cash and cash equivalent (A+B+C)	(3,299)		4,369
Cash and cash equivalent at the beginning of the year	4,370			I
Cash and cash equivalent at the end of the year	1,071		4,370

Notes:

• The above financial results of Andhra Cements Limited ("the Company") as reviewed by the Audit Committee have been approved by the Board of Directors at its meeting held on May 14, 2024. The results for the year ended March 31. 2024 have been audited and for the quarter ended March 31, 2024 have been reviewed by the statutory auditors. The statutory auditors of the Company have expressed an unmodified opinion on the financial results for the year ended March 31, 2024 and have issued an unmodified conclusion in respect of the limited review of the quarter ended March 31, 2024.

• 2 The Company is engaged in manufacture and sale of "cement and cement related products" which constitutes a single reportable business segment as per Ind AS 108 - 'Operating Segments'.

• The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India ("SEBI").

• The implementation of the Approved Resolution Plan commenced on February 17, 2023, the entire process was completed within the prescribed timeline of 30 days as mentioned in the approved Resolution Plan. Pursuant to the implementation of resolution plan, erstwhile promoter fully paid up equity shares of 20, 17,41,371 has been cancelled and the public shareholding have been reduced from 9, 17. 79,121 shares to 46,08,607 oft 10 each (i.e., reduced to 5% of the reconstituted paid up equity share capital of the Company). The Board of Directors of the Company at its meeting held on March 23, 2023 approved allotment of 8,75,63,533 fully paid equity shares t IOI- each to Sagar Cements Limited with a premium of { 26.80 per share, aggregating to t 32,223 lakhs, representing 95% of the reconstituted paid up equity share capital of the Company.

Post implementation of the resolution plan, the Monitoring Committee was dissolved on March 17, 2023 and the Board of Directors took charge for managing the affairs of the Company and to maintain the Company as a going concern.

• 5A Exceptional item for the year ended March 31, 2024, represents impairment reversal recorded based on remeasurement of certain assets at fair value as per the agreement entered by the Company.

SB Exceptional Income on account of gains recognised in accordance with the approved Resolution Plan comprises of:

t in hkhs	t in hkhs
Particulars	For lhe quarter and ye.1r ended !\larch31. 2023
Extin�uishmcnl of dues towards secured financial creditors	58,462
Liabilities of capital�oods extinguishment	8,120
Statutorremittances written back	1,973
Other current and non-current liabilities v.rrittenback	34,317
Tot.ii income(A)	1,02,872
Other current and non-current assets \vitten off	1,000
Provision for impairment in Property, plant & equioment	4,709
Tot.ii cxncnse(8)	5,709
Neteain(A -B)	97,163

• 6 Asset held for sale represents Cement Mill I and Cement Mill II along with its auxiliary equipments. These assets arc classified as asset held for sale based on sale agreement executed by the Company, pending clearance of the above-mentioned assets from site by the identified buyer. Asset held for sale is classified at lower of cost or net realizable value.

• The figures for the current quarter and quarter ended March 31, 2023, arc the balancing figures between the audited figures in respect of the full financial year ended March 31, 2024 and March 31, 2023, respectively and published year to date figures up to third quarter ended December 31, 2023 and December 31, 2022, respectively, which were subject to limited review by the statutory auditors. The financial results of the Company for the quarter and year ended March 31, 2023, were audited by the Mis Dass Gupta & Associates, Chartered Accountants, the predecessor auditor, who have expressed an unmodified opinion.

Place: Hyderabad Date: May 14, 2024

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For Andhra Cements Limited
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Chartered Accountants KRB Towers, Plot No.1 to 4 & 4A 1 ", 2"' & 3" Floor Jubilee Enclave, Madhapur Hyderabad - 500 081 Telangana, India

Deloitte Haskins & Sells

Tel: +91407125 3600 Fax: +91 40 7125 3601

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF ANDHRA CEMENTS LIMITED

Opinion and Conclusion

We have (a) audited the Financial Results for the year ended March 31, 2024 and (b) reviewed the Financial Results for the quarter ended March 31, 2024 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of Financial Results for the Quarter and Year Ended March 31, 2024" of ANDHRA CEMENTS LIMITED ("the Company"), ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

(a) Opinion on Annual Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Financial Results for the year ended March 31, 2024:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

• ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net loss and total comprehensive loss and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Financial Results for the quarter ended March 31, 2024

With respect to the Financial Results for the quarter ended March 31, 2024, based on our review conducted as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention that causes us to believe that the Financial Results for the quarter ended March 31, 2024, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Basis for Opinion on the Audited Financial Results for the year ended March 31, 2024

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("the ICAI") together with the ethical requirements that are relevant to our audit of the Financial Results for the year ended March 31, 2024 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Statement

This Statement which includes the Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Financial Results for the year ended March 31, 2024 has been compiled from the related audited financial statements. This responsibility includes the preparation and presentation of the Financial Results for the quarter and year ended March 31, 2024 that give a true and fair view of the net loss and other comprehensive loss and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting

JA

Deloitte Haskins & Sells

principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Financial Results, the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities

(a) Audit of the Financial Results for the year ended March 31, 2024

Our objectives are to obtain reasonable assurance about whether the Financial Results for the year ended March 31, 2024 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Annual Financial Results, including the disclosures, and whether the Annual Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

Deloitte Haskins & Sells

• Obtain sufficient appropriate audit evidence regarding the Annual Financial Results of the Company to express an opinion on the Annual Financial Results.

Materiality is the magnitude of misstatements in the Annual Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Financial Results for the quarter ended March 31, 2024

We conducted our review of the Financial Results for the quarter ended March 31, 2024 in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under Section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Other Matters

• The Statement includes the results for the Quarter ended March 31, 2024 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

Our report on the Statement is not modified in respect of this matter.

For Deloitte Haskins & Sells Chartered Accountants (Firm's Registration No. 008072S) � C Manish Muralidhar (Partner) (Membership No. 213649) (UDIN: 24213649BKCJFA1304)

Place: Hyderabad Date: May 14, 2024

ANDHRA CEMENTS LIMITED Zf-1 - Subsidiary of SAGAR CEMENTS LIMITED ♦ ti .

DECLARATION FOR AUDIT REPORTS

AS PER REGULATION 33(3)(d) OF SEBI (LODR) REGULATIONS, 2015

1 2 3 4 5 Name of the Company Annual Audited Financial Statements For the FY - 2023-24 Type of Audit Observation Frequency of Observation Signed by Hyderabad 14.05.2024	1 2 3 4 5 Name of the Company Annual Audited Financial Statements For the FY - 2023-24 Type of Audit Observation Frequency of Observation Signed by Hyderabad 14.05.2024
	1 2 3 4 5 Name of the Company Annual Audited Financial Statements For the FY - 2023-24 Type of Audit Observation Frequency of Observation Signed by Hyderabad 14.05.2024	ANDHRA CEMENTS LTD 31 stMarch, 2024 Unmodified opinion Not Applicable CFO For ANDHRA CEMENTS LTD ��'YJ-1--r, ,· (K. P AD) CFO <.,�IV\ E /)��ol]' I� i1 0 y a,,fy*0"» -

Regd. Office & Works : Durga Cement Works, Durgapuram, Srinagar Pose, Dachepalli Manda!, Palnadu District, AP - 522414. Phone: +91 8649-257441 I 42 I Fax: +91 8649-257428

Vi zag Unit: Visakha Cement Works, Parlupalem Village, Du1·ganagar Pose, Visakhapacnam - 530029, AP. Corporate Office : Plot No. I I I, Road No. I 0,Jubilee Hills, Hyderabad - 500033, Telangana, India. Phone: +91-40-23351571, 23351572 Fax: +91-40-23356573

Website: www.andhracemencs.com I E-mail: invescorcell@andhracemencs.com I CIN: L26942AP1936PLC002379 I GSTIN: 37AABCA9263D2ZQ

DHRA CEMENTS LIMITED Subsidiary of SAGAR CEMENTS LIMITED

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Submission of details of Outstanding Qualified Borrowings and Incremental Qualified Borrowings for the financial year ended March 31, 2024.

With reference to the SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPODl/P/CIR/2023/172 dated October 19, 2023 we submit the following details for the financial year ended March 31, 2024:

S.No.	Particulars	Amount (Rs. In Crores)
1.	Outstanding Qualified Borrowings at the startof the financialyear	504.91
2.	OutstandingQualified Borrowings at the end of the financialyear	615.19
3.	Credit rating (highest in case of multiple ratings)	IND BBB+
4. 5.	Incremental borrowing done during the year (qualified borrowings) Borrowings bywayof issuance of debt securities duringtheyear	110.28 Nil

We would request you to kindly take the above information / documents on record.

Thanking you

Yours faithfully For Andhra Cements Limited � G. Tirupati Rao Company Secretary M.No. F2818

Vizag Unit: Visakha Cement Works, Parlupalem Village, Durganagar Post, Visakhapatnam _ 530029, A.P.

Regd. Office & Works : Durga Cement Works, Durgapuram, Srinagar Post, Dachepalli Manda I, Palnadu District, A.P _ 522414. Phone : +91-40-23351571, 23351572 Fax : +91-40-23356573

Corporate Office: Plot No. I I 1, Road No. I 0,Jubilee Hills, Hyderabad - 500033,Telangana, India. Phone: +91 8649-257441 / 42 / Fax: +91 8649-257428

W ebs1te. www.andhracemencs.com / E-mail: mvestorcell@andhracements.com I CIN: L26942AP1936PLC002379 I GSTIN: 37AABCA9263O2ZQ. .