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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023 Currency Risk: b) Foreign currency risks from financial instruments at the end of the reporting period expressed in INR : Unhedged Short Term Exposures: MRP Financial Assets Financial Liabilities 31.03.2023 199.27 178.79 (Crores) 31.03.2022 253.61 212.40 The company is mainly exposed to changes in US Dollar. The sensitivity to a 4% (Previous year 2%) increase or decrease in US Dollar against INR with all other variables held constant will be +/(-) 1.37 Crores (Previous year 0.87 Crores). ₹ The Sensitivity analysis is prepared on the net unhedged exposure of the company at the reporting date. Hedged Foreign Currency exposures: Foreign Exchange forward Contracts on External Commercial borrowings and certain highly probable forecast transactions, are measured at fair value through OCI on being designated as Cash Flow Hedges. The Group also enters into foreign exchange forward contracts with the intention to minimise the foreign exchange risk of expected purchases, these contracts are not designated in hedge relationships and are measured at fair value through profit or loss. The outstanding position and exposures are as under : i) Foreign Currency forward contracts designated as Hedge Instruments : Currency/Interest Rate Swap Currency USD Amount Crores Forward Contract USD Million (45.00) Million 101.68 Million (135.18) Million Nature ECB Loan Cross Currency (288.59) 844.11 (1042.38) INR Import purchase Figures in brackets are in respect of Previous year. The terms of the foreign currency forward contracts match the terms of the transactions. As a result, no hedge ineffectiveness arises requiring recognition through profit or loss. ii) Other Forward Contract Outstanding: Forward Contract Currency USD Amount Crores Nature Cross Currency 30.49 Million (24.96) Million 252.84 (190.91) Import purchase INR Forward Contract USD Million Sales USD (19.03) Million (144.04) Figures in brackets are in respect of Previous year. 203

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