Notes to Accounts of Canara Robeco Asset Management Company Ltd.

Mar 31, 2025

3.11 Provisions and Contingent Liabilities

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources
will be required to settle the obligation in respect of which a reliable estimate can be made. When the effect of the time value of money is
material, the Company determines the level of provision by discounting the expected cash flows at a pre-tax rate reflecting the current rates
specific to the liability. These are reviewed at each Balance sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. A present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or reliable
estimate of the amount cannot be made, is termed and disclosed as contingent liability.

3.12 Segment reporting

The Company''s operating segments are established on the basis of those components of the Company that are evaluated regularly by the
Executive Committee (the ''Chief Operating Decision Maker'' as defined in lnd AS 108- ''Operating Segments''), in deciding how to allocate
resources and in assessing performance. These have been identified taking into account the nature of products and services, the differing risks
and returns and the internal business reporting systems. Basis of such evaluation, the Company concluded it operates in a single reportable
segment.

3.13 Earnings per share (EPS)

The basic earnings per share is computed by dividing profit after tax attributable to the equity shareholders by the weighted average number
of equity shares outstanding during the reporting period.

The diluted earnings per share is computed by dividing profit after tax attributable to the equity shareholders by the weighted average
number of equity shares outstanding plus the weighted average number of equity shares that would be issued on the conversion of all the
dilutive potential ordinary shares into ordinary shares.

The number of equity shares used in computing diluted earnings per share comprises the weighted average number of shares considered
for deriving basic earnings per share and also weighted average number of equity shares which would have been issued on the conversion
of all dilutive potential shares, unless they are anti-dilutive.

3.14 Dividends on Equity Shares

Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a
liability on the date of declaration by the company''s Board of Directors.

3.15 Trade receivables

Trade receivables that do not contain a significant financing component are measured at transaction price.

3.16 Standards Issued/Amended but not Effective

There are no new standards which have been issued but not yet effective.

b) Defined benefit plan - Gratuity

In accordance with the applicable Indian laws, the Company has a defined benefit plan which provides for gratuity payments. The plan
provides a lump sum gratuity payment to eligible employees at retirement or termination of their employment, which requires contributions
to be made to a separately administered fund. The amounts are based on the respective employee''s last drawn salary and the years of
employment with the Company.

The Company contribute to an approved Group gratuity policy with LIC. To Administer gratuity payments, Company has created a gratuity
Trust. Liabilities in respect of the gratuity plan are determined by an actuarial valuation, based upon which the Company makes annual
contributions to the plan.

The following tables summaries the components of net employee benefit expense recognised in the Statement of Profit and Loss, the funded
status and amounts recognised in Balance Sheet.

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of
the reporting period, while holding all other assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in the projected benefit obligation as it is unlikely
that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the
projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit
obligation as recognised in the balance sheet.

Risks associated with defined benefit plan

(i) Interest Rate Risk

A fall in the discount rate which is linked to the G-Sec rate will increase the present value of the liability requiring higher provision. A
fall in the discount rate generally increases the fair value of the assets depending on the duration of asset.

(ii) Salary Risk

The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase
in the salary of the members more than the assumed level will increase the plan''s liability.

(iii) Investment Risk

The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market
yields at the end of the reporting period on government bonds. If the return on plan asset is below this rate, it will create a plan deficit.
Currently, for the gratuity plan in India, it has a relatively balanced mix of investments in money market instruments and public deposits.

(iv) Asset Liability Matching Risk

The plan faces the ALM risk as to the matching cash flow. Since the plan is invested in lines of Rule 101 of Income Tax Rules, 1962. this
generally reduces ALM risk.

(v) Mortality Risk

Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity
risk.

(vi) Concentration Risk

The plan has a concentration risk as all the assets are invested with the insurance company and a default will wipe out all the assets.
Although probability of this is very low as insurance companies have to follow stringent regulatory guidelines which mitigate risk.
During the year, there were no plan amendments, curtailments and settlements.

38. Financial Instruments

A. Fair value measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most
advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is
directly observable or estimated using a valuation technique. In order to show how fair values have been derived, financial instruments are
classified based on a hierarchy of valuation techniques, as explained below

# Fair value of cash and cash equivalents, bank balances, trade & other receivables, other financial assets, trade payables and other financial
liabilities approximate their carrying amounts largely due to current maturities of these instruments. Accordingly, fair value hierarchy for these
financial instruments have not been presented above.

For the purpose of disclosure, price provided by valuation agency is considered as the fair value of financial assets that are measured at amortised
cost.

The hierarchy used is as follows:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Investment in open ended Mutual Funds are
included in Level 1.

Level 2 — Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or
indirectly (i.e. derived from prices). Investment in close ended Mutual Funds and Debt Securities that are not traded in active market are included
in Level 2.

Level 3 — Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation
model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are
they based on available market data. Investment in unlisted Debt Securities, unlisted Equity Instruments, Alternative Investment Funds and Venture
Capital Fund are included in Level 3.

In order to assess Level 3 valuations, the management reviews the performance of the alternative investment funds on a regular basis by tracking
their latest available financial statements/financial information, valuation report of independent valuers, recent transaction results etc. which
are considered in valuation process.

B. Financial Risk Management

Risk management is an integral part of the business practices of the Company. The Company''s primary focus is to foresee the unpredictability
of financial markets and seek to minimise potential adverse effects on its financial performance. The financial risks are managed in accordance
with the Company''s risk management policy which has been approved by the Risk Committee of Board of director''s. The Company''s Risk
Committee has overall responsibility for managing the risk profile of the Company. The purpose of risk management is to identify potential
problems before they occur, so that risk-handling activities may be planned and invoked as needed to manage adverse impacts on achieving
objectives.

The Risk Committee of the Company reviews the development and implementation of the risk management policy of the Company on
periodic basis. The Risk Committee provides guidance on the risk management activities, review the results of the risk management process
and reports to the Board of Directors on the status of the risk management initiatives.

1. Liquidity Risk :

Liquidity risk is defined as the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that
are settled by delivering cash or another financial asset. Liquidity risk arises because of the possibility that the Company might be unable
to meet its payment obligations when they fall due as a result of mismatches in the timing of the cash flows under both normal and stress
circumstances. Such scenarios could occur when funding needed for illiquid asset positions is not available to the Company on acceptable
terms.

To limit this risk, management has adopted a policy of managing assets with liquidity in mind and monitoring future cash flows and liquidity
on a regular basis. The Company has developed internal control processes for managing liquidity risk.

The Company maintains a portfolio of highly marketable and diverse assets that are assumed to be easily liquidated in the event of an
unforeseen interruption in cash flow. The Company assesses the liquidity position under a variety of scenarios, giving due consideration to
stress factors relating to both the market in general and specifically to the Company.

The table below analyses the Company''s financial liabilities into relevant maturity pattern based on their contractual maturities for all
financial liabilities.

2. Credit Risk :

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations and arises principally from the Company''s trade and other receivables, cash and cash equivalents, and financial assets measured
at amortised cost.

Exposure to credit risk is mitigated through regular monitoring of collections, counterparty''s creditworthiness and diversification in exposure.
Exposure to credit risk

The carrying amount of financial assets represents maximum amount of credit exposure. The maximum exposure to credit risk is as per the
table below, it being total of carrying amount of cash and cash equivalent, trade and other receivables and financial assets measured at
amortised cost.

Expected Credit Loss (ECL) on Financial Assets

The Company continuously monitors all financial assets subject to ECLs. In order to determine whether an instrument is subject to 12 month
ECL (12mECL) or life time ECL (LTECL), the Company assesses whether there has been a significant increase in credit risk or the asset has
become credit impaired since initial recognition. The Company applies following quantitative and qualitative criteria to assess whether there
is significant increase in credit risk or the asset has been credit impaired:

- Historical trend of collection from counterparty

- Company''s contractual rights with respect to recovery of dues from counterparty

- Credit rating of counterparty and any relevant information available in public domain.

ECL is a probability weighted estimate of credit losses. It is measured as the present value of cash shortfalls (i.e. the difference between the
cash flows due to the Company in accordance with contract and the cash flows that the Company expects to receive).

The Company has two types of financial assets that are subject to the expected credit loss:

- Trade & other receivables

- Cash and cash equivalent
Trade and Other Receivables

Exposures to customers'' outstanding at the end of each reporting period are reviewed by the Company to determine incurred and expected
credit losses. Historical trends of collection from counterparties on timely basis reflects low level of credit risk. As the Company has a contractual
right to such receivables as well as control over preponderant amount of such funds due from customers, the Company does not estimate
any credit risk in relation to such receivables.

Cash and Cash Equivalents

The Company holds cash and cash equivalents and other bank balances as per note 4. The credit worthiness of such banks and financial
institutions is evaluated by the management on an ongoing basis and is considered to be high.

3. Market Risk:

Market risk is the risk of loss of future earnings, fair values or future cash flows related to financial instrument that may result from adverse
changes in market rates and prices (such as foreign exchange rates, interest rates, other prices). The Company is exposed to market risk
primarily related to currency risk, interest rate risk and price risk.

i. Foreign Currency Risk:

The Company has insignificant amount of foreign currency denominated assets and liabilities. Accordingly, there is no significant
exposure to currency risk.

ii. Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market
interest rates.

iii. Price risk:

Price risk is the risk that the value of the financial instrument will fluctuate as a result of changes in market prices and related market
variables including interest rate for investments in debt oriented mutual funds and debt securities, whether caused by factors specific
to an individual investment, its issuer or the market. The Company''s exposure to price risk arises from investments in equity securities,
AIF & units of mutual funds, which are classified as financial assets at Fair Value Through Profit and Loss and is as follows:

39. Capital management :

The Company''s capital management strategy is to effectively determine, raise and deploy capital so as to create and maximise value for its
shareholders. The same is done through equity. The funding requirements are met through operating cash flows and other equity. The management
monitors the return on capital and the board of directors monitor the level of dividends paid to shareholders of the Company. The Company may
take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

42. Dues to Micro, Small and Medium Enterprises

Trade payables do not include any amount payable to Micro, Small and Medium Enterprises. Under the Micro, Small and Medium Enterprises
Development Act, 2006, (MSMEDA) which came into force from October 02, 2006, certain disclosures are required to be made relating to Micro,
Small and Medium enterprises. On the basis of the information and records available with the management, the following disclosures are made
for the amounts due to the Micro, Small and Medium enterprises, who have registered with the competent authorities.

44. Share Based Payments(ESOP)

The Company has instituted the Employee Stock Option Scheme 2025 ("ESOP-2025" / "Scheme") to or for eligible employees of the Company,
duly approved by the Board of Directors at its meeting held on March 28, 2025 and the shareholders at the EGM held on April 04, 2025. The
Scheme is established with effect from 4th April 2025 on which the shareholders of the Company have approved the Scheme by way of a special
resolution and shall continue to be in force until (i) its termination by the Board or Committee as per provisions of Applicable Laws, or (ii) the date
on which all of the Options available for Grant under the Scheme have been issued and exercised, whichever is earlier.

The Exercise Period for Vested Options shall be a maximum of 5 (Five) years commencing from the date of Vesting of Options, or such other shorter
period as may be prescribed by the Committee at time of Grant.

The Scheme shall be effective from the date of Listing of the share. Accordingly no provision has made towards the same in the financial year
2024-25.

45. Other Disclosures

- The company does not have any borrowings from banks/financial institutions.

- The company does not have immovable property (other than properties where the Company is the lessee and the lease agreements are
duly executed in favour of the lessee) whose title deeds are not held in the name of the company.

- The company does not have investment property in terms IND AS 40.

- The company has not revalued any of its Property, Plant and Equipment (including Right of-Use Assets) during the year.

- The company has not revalued any of its Intangible assets during the year under review.

- The company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined

under the Companies Act, 2013)

- The details of capital work in progress are given under Note 12.

- The details of Intangible assets under development are given in Note 13

- The details of CSR are given in Note 33

- There are no proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions
(Prohibitions) Act, 1988 (45 of 1988) and the rules made thereunder.

- The company does not have any borrowings from banks or financial institutions on the basis of security of current assets.

- The Company has not been declared a Wilful Defaulter by any bank or financial institution or consortium thereof in accordance with the

guidelines on wilful defaulters issued by the Reserve Bank of India.

- The company has not entered into any transaction with companies struck off under section 248 of the Companies Act 2013.

- The Company does not have any charges or satisfaction yet to be registered with ROC beyond the statutory year.

- There are no ratios which are applicable with regard to new amendments under "Division III of Schedule III" under "Part I - Balance Sheet
- General Instructions for preparation of Balance Sheet".

- The Company has not entered into any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013.

- The Company has neither advanced or loaned or invested funds (either borrowed funds or share premium or any other source or kind of

funds) nor received any funds to/ from any other person(s) or entity(is), including foreign entities (Intermediaries) for lending or investing
or providing guarantees to/ on behalf of the ultimate beneficiary during the year.

- The Company has not traded or invested in Crypto currency or Virtual Currency during year.

- The Company is in compliance with number of layers of companies, as prescribed under clause (87) of Section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.

- The Company does not have any transactions which were not recoded in the books of account, but offered as income during the year in the
income tax assessment.

46. Other Disclosures

Previous year''s figures have been regrouped/reclassified, wherever necessary, to conform to the current year''s classification.

As per our report of even date

For and on Behalf of the Board of Directors of

As per our report of even date Canara Robeco Asset Management Company Limited

For Borkar & Muzumdar Sd/- Sd/-

Chartered Accountants Rajnish Narula Ravindran Menon

Firm Registration No : 101569W mD & CEO Director

DIN: 03607363 DIN: 00016302

Sd/- Sd/- Sd/-

Brijmohan Agarwal Ashwin Purohit Ashutosh Vaidya

Partner (M. No. 033254) Chief Financial Officer Company Secretary

UDIN : 25033254BMINSP2088 M. No. ACS14242

Place : Mumbai Place : Mumbai

Date : May 05, 2025 Date : May 05, 2025