68.

69.

Our Company has prepared financial statements under Ind AS. Significant differences exist between
Ind AS and other accounting principles.

Our financial statements, including the financial statements provided in this Prospectus, have been
prepared in accordance with Ind AS (including the Ind AS 116) and the Companies Act 2013 and restated
in accordance with SEBI ICDR Regulations. We have not attempted to quantify the impact of IFRS, U.S.
GAAP or any other system of accounting principles on the financial data included in this Prospectus, nor
do we provide a reconciliation of our financial statements to those of IFRS, U.S. GAAP or any other
accounting principles. IFRS and U.S. GAAP differ in certain respects from Ind AS. Accordingly, the
degree to which the Ind AS financial statements included in this Prospectus will provide meaningful
information is entirely dependent on the reader’s level of familiarity with Ind AS. Any reliance by
persons not familiar with Indian accounting practices on the financial disclosures presented in this
Prospectus should accordingly be limited. In addition, some of our competitors may not present their
financial statements in accordance with Ind AS and their financial statements may not be directly
comparable to ours, and therefore reliance should accordingly be limited.

EBITDA presented in this Prospectus is not in accordance with Ind AS.

EBITDA presented in this Prospectus is a supplemental measure of our performance and liquidity that is
not required by, or presented in accordance with Ind AS. Furthermore, EBITDA is not a measurement of
our financial performance or liquidity and should not be considered as an alternative to net profit/ loss,
revenue from operations or any other performance measures or as an alternative to cash flow from
Operations or as a measure of our liquidity. In addition, EBITDA is not a standardised term, hence a
direct comparison of EBITDA between companies may not be possible. Other companies may calculate
EBITDA differently from us, limiting its usefulness as a comparative measure.

Risks related to the Offer and the Equity Shares

70.

71.

72.

The Offer Price of the Equity Shares may not be indicative of the market price of the Equity Shares
after the Offer.

The Offer Price of the Equity Shares was determined by our Company and the Investor Selling
Shareholders, in consultation with the BRLMs, and through the Book Building Process. This price was
based on numerous factors, as described under “Basis for Offer Price” on page 87 and may not be
indicative of the market price for the Equity Shares after the Offer. The market price of the Equity Shares
could be subject to significant fluctuations after the Offer, and may decline below the Offer Price. We
cannot assure you that you will be able to resell their Equity Shares at or above the Offer Price.

QIBs and Non-Institutional Investors were not permitted to withdraw or lower their Bids (in terms of
quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid, and Retail Individual
Investors were not permitted to withdraw their Bids after Bid/Offer Closing Date.

Pursuant to the SEBI ICDR Regulations, QIBs and Non-Institutional Investors were required to pay the
Bid Amount on submission of the Bid and were not permitted to withdraw or lower their Bids (in terms
of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid. Similarly, Retail
Individual Investors could revise or withdraw their Bids at any time during the Bid/Offer Period and until
the Bid/Offer Closing Date, but not thereafter. Therefore, QIBs and Non-Institutional Investors were not
permitted to withdraw or lower their Bids following adverse developments in international or national
monetary policy, financial, political or economic conditions, our business, results of operations or
otherwise at any stage after the submission of their Bids.

After the Offer, the Equity Shares may experience price and volume fluctuations and an active trading
market for the Equity Shares may not develop, which may mean you may be unable to resell your
Equity Shares at or above the Offer Price, or at all.

The price of the Equity Shares may fluctuate after this Offer as a result of several factors, including
volatility in the Indian and global securities markets, the results of our operations, the performance of
our competitors, developments in the Automotive - Powertrain and Others, Automotive - Aluminium
Products and Industrial and Engineering segments and changing perceptions in the market about

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