(e) Provisions

Provisions for legal claims, volume discounts and returns are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognized for future operating losses.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as

a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense.

(f) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.

(g) Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period.

(h) Earnings per share

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to owners of the Company

• by the weighted average number of equity shares outstanding during the financial year.

The Company does not have any dilutive potential equity shares.

Note 39: The financial statements were approved for issue by the Board of Directors on May 28, 2024.

Price Waterhouse Chartered Accountants LLP For and on behalf of the Board of Directors

(Firm's Registration Number: 012754N/N500016) Jagran Prakashan Limited

Rahul Chattopadhyay Mahendra Mohan Gupta Sunil Gupta

Partner Non-Executive Chairman and Director Whole-Time Director

(Membership Number: 096367) DIN No:00020451 DIN No:00317228

Amit Jaiswal

Chief Financial Officer and Company Secretary Membership Number: F5863

Place: Kanpur Place: Kanpur

Date: May 28, 2024 Date: May 28, 2024