1.01 Statement of Compliance with Ind AS
These standalone financial statements have been prepared in accordance with the Indian Accounting
Standards (referred to as “Ind AS”) as prescribed under section 133 of the Companies Act, 2013 read with the
Companies (Indian Accounting Standards) Rules as amended from time to time.
1.02 Basis of Preparation and Presentation of Financial Statements
These Financial Statements ('Financial Statements') of the Company have been prepared in accordance with
the Indian Accounting Standards (hereinafter referred to as the 'Ind AS') as notified by Ministry of Corporate
Affairs ('MCA') under Section 133 of the Companies Act, 2013 ('the Act') read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended and other relevant provisions of the Act. In addition, the
guidance notes/announcements issued by the Institute of Chartered Accountants of India (ICAI) are also
applied except where compliance with other statutory promulgation requires a different treatment.
The Ind AS Financial Statements comprise of the Balance Sheet as at year ended 31st March 2026, the
Statement of profit and loss (including Other Comprehensive Income) for the year ended 31st March 2026,
statement of cash flows for the year ended 31st March 2026 and Statement of changes in equity for the year
ended on that date, and accounting policies and other explanatory information.
The Financial Statements were approved by the Company's Board of Directors and authorized for issue on
27th May 2026.
As required by Division II issued under Schedule III of the act, the company has presented the assets and
liabilities in the Balance Sheet in the order of liquidity.
1.03 Basis of Measurement
The Financial Statements have been prepared on going concern basis in accordance with accounting principles
generally accepted in India to comply with Indian Accounting Standards (Ind AS) prescribed in Companies Act
2013.
These statements are prepared under historical cost convention on accrual basis and also certain financial
assets and financial liabilities which are measured at fair values at the end of each reporting period as
mentioned below: -
• net defined benefit liability measured at fair value of plan assets less the present value of the defined
benefit obligation (refer note 52).
• Certain financial assets and liabilities
The Company has an established control framework with respect to the measurement of fair values.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date, regardless of whether that price is directly
observable or estimated using another valuation technique.
In estimating the fair value of an asset or a liability, the Company takes into account the characteristics of the
asset or liability if market participants take those characteristics into account when pricing the asset or
liability at the measurement date. Fair value for measurement and/or disclosure purposes in these financial
statements is determined on this basis.
Fair value measurements under Ind AS are categorized as below based on the degree to which the inputs to
the fair value measurements are observable and the significance of the inputs to the fair value measurement
in its entirety:
• Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the
Company can access at measurement date.
• Level 2 inputs are inputs, other than quoted prices included in level 1, that are observable for the asset or
liability, either directly or indirectly: and
• Level 3 inputs are unobservable inputs for the valuation of assets/liabilities.
When measuring the fair value of an asset or a liability, the Company uses observable market data as far as
possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair
value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair
value hierarchy as the lowest level input that is significant to the entire measurement.
Current/ non-current classification
An asset is treated as current when it is: Expected to be realized or intended to be sold or consumed in normal
operating cycle.
• Held primarily for the purpose of trading.
• Expected to be realized within twelve months after the reporting period, or
• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period.
• All other assets are classified as non-current.
A liability is current when: It is expected to be settled in normal operating cycle.
• It is held primarily for the purpose of trading.
• It is due to be settled within twelve months after the reporting period, or
• There is no unconditional right to defer the settlement of the liability for at least twelve months after the
reporting period.
The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as
non-current assets and liabilities. The operating cycle is the time between the acquisition of assets for
processing and their realisation in cash and cash equivalents. The Company has identified twelve months as
its operating cycle.
Operating cycle
Operating cycle is the time between the acquisition of assets for processing and their realization in cash or
cash equivalents. The Company's normal operating cycle is twelve months.
Statement of Cash Flows
The statement of cash flows has been prepared under indirect method as explained in Ind AS- 7 Statement of
Cash Flows. Cash flows are reported using the indirect method, whereby profit after tax is adjusted for the
effects of transactions of a non-cash nature, any deferrals, or accruals of past or future operating cash receipts
or payments and item of income or expenses associated with investing or financing cash flows. The cash flows
are segregated into operating, investing, and financing activities.
Functional and Presentation Currency
These financial statements are presented in Indian Rupees (INR), which is also the functional currency of the
Company. All amounts have been rounded to the nearest lacs up to two decimal places, unless otherwise
indicated. Per share data are presented in Indian Rupees to two decimals places.
The functional currency is the currency of the primary economic environment in which the Company operates
and is normally the currency in which the Company primarily generates and expends cash.
1.04 Use of Key Accounting Estimates and Judgements
The preparation of the Financial Statements in conformity with Ind AS requires the Management to make
estimates, judgements and assumptions that affect the application of accounting policies and the reported
amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities.
The principal accounting estimates have been described under the relevant income /expense and/ or assets/
liability item in the Financial Statements. The Management believes that the estimates used in the preparation
of these Financial Statements are prudent and reasonable. Actual results could differ from these estimates.
Continuous evaluation is done on the estimation and judgments based on historical experience and other
factors, including expectations of future events that are believed to be reasonable.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimate is revised if the revision affects only the period
of the revision and future periods if the revision affects both current and future periods. Revisions to
accounting estimates are recognized in the period in which the estimate is revised if the revision affects only
that period, or in the period of the revision and future periods if the revision affects both current and future
periods.
Information about critical judgments in applying accounting policies, as well as estimates and assumptions
that have the most significant effect to the carrying amounts of assets and liabilities within the next financial
year, is as follows:
i) Judgments
• Lease term: whether the Company is reasonably certain to exercise extension options: The
Company has an option to extend the term of lease at the end of lock-in period in most of its
leases. The Company makes a judgement by considering future economic incentives for
exercising the extension option in order to ensure reasonable certainty.
ii) Assumptions and estimation uncertainties
• Note 52: measurement of defined benefit obligations: key actuarial assumptions
• Note19 & 32: recognition and measurement of provisions and contingencies: key
assumptions about the likelihood and magnitude of an outflow of resources.
• Note 2 and 2B: Useful lives of property, plant, and equipment: The lives are based on
historical experience with similar assets as well as anticipation of future events, which may
impact their life, such as changes in technology. The estimated useful life is reviewed at least
annually.
1.05 Recent Accounting Developments
A. Application of newly amended Standards
Amendments to Ind AS 107 - Financial Instruments
Ind AS 7, Statement of Cash Flows and Ind AS 107, Financial Instruments: Disclosures, applicable w.e.f. April
1, 2025 - The amendment in Ind AS 7 requires to inform users of financial statements of the existence of
supplier finance arrangements and explain the nature of the arrangements, the carrying amount of liabilities
and the range of payment due dates. Ind AS 107 has been amended to add supplier finance arrangements as a
factor that may cause concentration of liquidity risk. The Company has reviewed the amendment and based
on its valuation has determined that it does not have any significant impact in its financial statements.
Amendments to Ind AS 1 - Presentation of Financial Statements
Ind AS 1, Presentation of Financial Statements, applicable w.e.f. April 1, 2025 - The amendment relates to
classification of liabilities as current or non-current and non-current liabilities with covenants. In the context
of classifying a liability as current, it removes the requirement of existence of a right to defer settlement for at
least 12 months after the reporting date and instead requires that the said right should exist on the reporting
date and have substance. The amendment also introduces guidance on classification of liabilities with
covenants. The Company has no impact of these amendments in its classification criteria of current and non¬
current liabilities.
Amendment to Ind AS 12- Income Taxes
The Company has applied mandatory exception of recognizing and disclosing information about deferred tax
assets and liabilities related to Pillar Two income taxes as required by Ind AS 12 (as amended).
Amendment to Ind AS 21- The Effects of Changes in Foreign Exchange Rates
In May 2025, MCA notified amendments to Ind AS 21 - The Effects of Changes in Foreign Exchange Rates,
applicable w.e.f. April 1, 2025. The Company has reviewed the amendment and based on its evaluation has
determined that it does not have any significant impact in its financial statements.
B. Standards notified but not yet effective.
There are no amendments issued after the reporting date which are not yet effective up to the reporting date.
The Company has not adopted any amendments that have been notified earlier but are not yet effective.
1.06 Exceptional items
• An item of income or expense which by its size, nature and incidence requires disclosure in order to
improve an understanding of the performance of the Company is treated as an exceptional item and
disclosed as such in the financial statements.
1.07 Property, Plant and Equipment
• The Company has elected to continue with carrying value of all its property, plant, and equipment as
recognized in the Financial Statements as at date of transition to Ind AS and use the same as its deemed
cost as at the date of transition.
Property, plant, and equipment are stated at their cost of acquisition less accumulated depreciation
and impairment (if any). The cost comprises the purchase price, borrowing cost and attributable cost
of bringing the asset to its working condition for its intended use. When significant parts of property,
plant and equipment are required to be replaced at intervals, the Company depreciates them,
separately based on their specific useful lives.
Cost of an item of property, plant and equipment comprises its purchase price, including import duties
and non-refundable purchase taxes, after deducting trade discounts and rebates, any directly
attributable cost of bringing the item to its working condition for its intended use and estimated costs
of dismantling and removing the item and restoring the site on which it is located. The cost of a self-
constructed item of property, plant and equipment comprises the cost of materials and direct labour,
any other costs directly attributable to bringing the item to working condition for its intended use, and
estimated costs of dismantling and removing the item and restoring the site on which it is located. Cost
includes, for qualifying assets, borrowing costs capitalized in accordance with the Company's
accounting policy. Such properties are classified to the appropriate categories of property, plant, and
equipment when completed and ready for intended use. Depreciation of these assets, on the same basis
as other property assets, commences when the assets are ready for their intended use.
The cost of an item of property, plant and equipment shall be recognized as an asset if, and only if it is
probable that future economic benefits associated with the item will flow to the Company and the cost
of the item can be measured reliably.
• The land used for the factory/office building is stated at historical cost less any accumulated impairment
losses.
• Gains or losses arising on retirement or sale/disposal of property, plant and equipment are recognized in
the statement of Profit and Loss.
• The residual values, useful lives, and method of depreciation of property, plant and equipment are
reviewed at each financial year end and adjusted prospectively, if appropriate.
1.08 Depreciation & Amortization and Useful Life
• Depreciation on Property, Plant and Equipment is provided on Written Down Value Method and computed
on the basis of the useful life prescribed in Schedule II to the Companies Act, 2013 (Act) from the date the
asset is ready to put to use. Freehold land is not depreciated.
• The residual value of 5% of Original Cost/Deemed Cost is considered for the purpose of calculating
Depreciation rates. The residual values, useful lives and method of depreciation are reviewed at the end
of each financial year.
• Depreciation is provided on a pro-rata basis in the year in which the assets are put to use.
• The Company has used rates to provide depreciation which coincide with the rates indicated in schedule
II of the Companies Act 2013 on its fixed assets.
• Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted
if appropriate. Based on technical evaluation and consequent advice, the management believes that its
estimates of useful lives given below best represent the period over which management expects to use
these assets.
1.09 Capital Work in Progress and Intangible Assets under Development
• Property, Plant and Equipment which are not ready for intended use as on the date of Balance Sheet are
disclosed as “Capital Work-in-Progress.” These are carried at cost, comprising direct cost, related
incidental expenses and attributable interest.
• Intangible Assets which are not ready for intended use as on the date of Balance Sheet are disclosed as
“Intangible Assets under Development.” These are carried at cost, comprising direct cost, related
incidental expenses and attributable interest.
• Advances paid towards the acquisition of property, plant and equipment and Intangible Assets
outstanding at each balance sheet date are classified as capital advances under other non-current assets.
1.10 Impairment of Non-Financial Assets
At the end of each reporting period, the Company reviews the carrying amounts of its assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss (if any). For impairment testing, assets that do not generate independent cash inflows are grouped
together into cash-generating units. Each cash-generating unit represents the smallest group of assets that
generates cash inflows that are largely independent of the cash inflows of other assets or cash-generating
units. When a reasonable and consistent basis of allocation can be identified, corporate assets are also
allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash¬
generating units for which a reasonable and consistent allocation basis can be identified.
Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset (or
cash-generating unit) for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.
An impairment loss is recognized immediately in profit or loss.
When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating
unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying
amount does not exceed the carrying amount that would have been determined had no impairment loss
been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is
recognized immediately in profit or loss.
1.11 Inventories
Inventories are valued at cost or net realizable value, whichever is lower. The cost in respect of the various
items of inventory is computed as under:
In the case of raw materials which are not ordinarily interchangeable at Standard Cost on Specific
Identification of cost basis, in case of raw materials which are ordinarily interchangeable at FIFO method
of cost i.e., Cost plus direct expenses. The cost includes cost of purchase and other costs incurred in
bringing the inventories to their present location and condition.
In the case of stores and spares at Standard Cost on a weighted average cost basis i.e., Cost plus direct
expenses. The cost includes cost of purchase and other costs incurred in bringing the inventories to their
present location and condition.
In the case of work in progress at raw material cost plus conversion costs depending upon the stage of
completion.
In the case of finished goods at raw material cost plus conversion costs, packing cost, nonrecoverable
indirect taxes (if applicable) and other overheads incurred to bring the goods to their present location and
condition.
In the case of byproducts at estimated realizable value Net realizable value is the estimated selling price
in ordinary course of business, less estimated costs of completion and the estimated costs necessary to
make the sale.
1.12 Assets held for Sale
Non-current assets or disposal groups comprising of assets and liabilities are classified as 'held for sale' when
all of the following criteria's are met:
(i) The decision has been made to sell.
(ii) The assets are available for immediate sale in their present condition.
(iii) The assets are being actively marketed and
(iv) Sales have been agreed or are expected to be concluded within 12 months of the Balance Sheet
date.
Subsequently, such non-current assets and disposal groups classified as held for sale are measured at the
lower of it carrying value and fair value less costs of disposal. Non-current assets held for sale are not
depreciated or amortized.
1.13 Investments in Subsidiaries & Joint Ventures
Investments in subsidiaries are carried at cost less accumulated impairment losses, if any. Where an indication
of impairment exists, the carrying amount of the investment is assessed and written down immediately to its
recoverable amount. On disposal of investments in subsidiaries, the difference between net disposal proceeds
and the carrying amounts are recognized in the Statement of Profit and Loss.
1.14 Revenue Recognition
• Revenue is recognized based on the nature of activity when consideration can be reasonably measured
and recovered with reasonable certainty. The Company applies revenue recognition criteria to each of the
nature of revenue transactions as set out below:
a) Revenue from Contracts with Customers
Pursuant to the application of Ind AS 115 - 'Revenue from Contracts with Customers' issued on
01/04/2018, the Company has applied following accounting policy for revenue recognition:
The Company recognizes revenue from contracts with customers when it satisfies a performance
obligation by transferring promised goods or service to a customer. The revenue is recognized to the
extent of transaction price allocated to the performance obligation satisfied. Performance obligation
is satisfied over time when the transfer of control of goods or service to a customer is done over time
and in other cases, performance obligation is satisfied at a point in time.
For performance obligation to satisfy overtime, the revenue recognition is done by measuring the
progress towards complete satisfaction of performance obligation. The progress is measured in terms
of the actual cost incurred to date, to the total estimated cost attributable to the performance
obligation. Transaction price is the amount of consideration to which the Company expects to be
entitled in exchange for transferring goods or services to a customer excluding amounts collected on
behalf of a third party.
Revenue is measured at the fair value of the consideration received /receivable, taking into account
contractually defined terms of payment, and excluding taxes or duties collected on behalf of the
government and is net of rebates and discounts.
The Company assesses its revenue arrangements against specific criteria to determine if it is acting as
principal or agent. The Company has concluded that it is acting as a principal in all of its revenue
arrangements.
Revenue is recognized in the income statement to the extent that it is probable that the economic
benefits will flow to the Company and the revenue and costs, if applicable, can be measured reliably.
The Company has applied five step model as per Ind AS 115 'Revenue from contracts with customers'
to recognize revenue in the Financial Statements. The Company satisfies a performance obligation and
recognizes revenue over time, if one of the following criteria is met:
- The customer simultaneously receives and consumes the benefits provided by the Company's
performance as the Company perform: or
- The Company's performance creates or enhances an asset that the customer controls as the asset
is created or enhanced: or
- The Company's performance does not create an asset with an alternative use to the Company, and
the entity has an enforceable right to payments for performance completed to date.
Revenue is recognized either at a point of time or over a period of time based on various conditions
included in the contracts with customers.
b) Sale of Goods
The Company recognizes revenue in relation to sale of products when it satisfies a performance
obligation in accordance with the contract with the customer. This is achieved when control of the
product has been transferred to the customer, which is generally determined when legal title, physical
possession, risk of obsolescence, loss and rewards of ownership pass to the customer and the Company
has the present right to payment, all of which occurs at a point in time upon shipment or delivery of
the product.
The Company considers the terms of the contract in determining the transaction price. The transaction
price is based upon the amount the Company expects to be entitled to in exchange for transferring of
promised goods and services to the customer. Transaction price excludes taxes and duties collected
on behalf of the government. Invoices are issued according to contractual terms and are usually
payable as per the credit period agreed with the customer.
c) Rendering of Services
Revenue from providing services is recognized in the accounting period in which the services are
rendered. Invoices are issued according to contractual terms and are usually payable as per the credit
period agreed with the customer.
d) Other Operating Income
Export benefits under Duty Drawback fits and Remission of Duties and Taxes on Export Products
Scheme (RoDTEP) are accounted for as other operating revenue on accrual basis when export of goods
takes place, where there is a reasonable assurance that the benefit will be received and the Company
will comply with all the attached conditions.
e) Dividend and Interest Income
Dividend income from investments is recognized when the shareholder's right to receive payment has
been established (provided that it is probable that the economic benefits will flow to the Company and
the amount of income can be measured reliably).
Interest in income from a financial asset is recognized when it is probable that the economic benefits
will flow to the Company and the amount of income can be measured reliably. Interest income is
accrued on a time basis, by reference to the principal outstanding and at the effective interest rate
applicable, which is the rate that exactly discounts estimated future cash receipts through the expected
life of the financial asset to that asset's net carrying amount on initial recognition.
1.15 Government Grants
• Capital Grants
- In the case of depreciable assets, the cost of the assets is shown at Net value.
- Government grants shall be recognized in Profit or Loss on a systematic basis over the periods of the useful
life of the related asset.
• Revenue Grants
- Government grants are recognized where there is reasonable assurance that the grant will be received,
and all attached conditions will be compiled with. Government grants are recognized in profit or loss on a
systematic basis over the periods in which the entire recognizes as expenses the related costs for which
the grants are intended to compensate.
1.16 Employee Benefits
• Short-term employee benefits
All employee benefits falling due within twelve months of the end of the period in which the employees
render the related services are classified as short-term employee benefits, which include benefits like
salaries, wages, short term compensated absences, performance incentives, etc. and are recognized as
expenses in the period in which the employee renders the related service and measured on an
undiscounted basis. A liability is recognized for the amount expected to be paid e.g., salaries, wages and
bonus, if the Company has a present legal or constructive obligation to pay this amount as a result of past
service provided by the employee, and the amount of obligation can be estimated reliably.
• Post-employment benefits
Post-employment benefit plans are classified into defined benefits plans and defined contribution plans
as under:
Defined contribution plan
A defined contribution plan is a post-employment benefit plan under which an entity pays specified
contributions to a separate entity and will have no legal or constructive obligation to pay further amounts.
The Company's contribution is recognized as an expense in the Statement of Profit and Loss during the
period in which the employee renders the related service.
Defined benefit plans
A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. Gratuity
is a defined benefit plan. The Company has an obligation towards gratuity, a defined benefit retirement
plan covering eligible employees. The plan provides for a lump sum payment to vested employees at
retirement, death while in employment or on termination of employment of an amount based on the
respective employee's salary and the tenure of employment. The Company's net obligation in respect of
gratuity is calculated separately by estimating the amount of future benefit that employees have earned in
the current and prior periods and discounting that amount. The calculation of defined benefit obligation
is performed annually by a qualified actuary using the projected unit credit method.
1.17 Borrowing Cost
• Borrowing costs that are attributable to the acquisition and/or construction of qualifying assets are
capitalized as part of the cost of such assets during the period of time that it is necessary to complete and
prepare the assets for its intended use or sale. A qualifying asset is one that necessarily takes a substantial
period of time to get ready for its intended use. All other borrowing costs are charged to the Statement of
Profit and Loss.
1.18 Earnings per Share
• Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to
equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares
outstanding during the period. The weighted-average number of equity shares outstanding during the
period is adjusted for events including a bonus issue.
• For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable
to equity shareholders and the weighted-average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
1.19 Accounting for Taxes on Income
Income taxes
The income tax expense comprises of current and deferred income tax. Income tax is recognized in the
statement of profit and loss, except to the extent that it relates to items recognized in the other comprehensive
income or directly in equity, in which case the related income tax is also recognized accordingly. The Company
has determined that interest and penalties related to income taxes, including uncertain tax treatments, do not
meet the definition of income taxes, and therefore accounted for them under Ind AS 37 Provisions, Contingent
Liabilities and Contingent Assets
Current tax
Current income tax for the current and prior periods is measured at the amount expected to be recovered
from or paid to the taxation authorities based on the taxable income for the period. The tax rates and tax laws
used to compute the current tax amounts are those that are enacted or substantively enacted as at the
reporting date and applicable for the period.
While determining the tax provisions, the Company assesses whether each uncertain tax position is to be
considered separately or together with one or more uncertain tax positions depending upon the nature and
circumstances of each uncertain tax position. The Company offsets current tax assets and current tax
liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either
to settle on a net basis, or to realise the asset and liability simultaneously.
Deferred tax
Deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences
between the carrying values of assets and liabilities and their respective tax bases.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and
assets reflects the tax consequence that would follow from the manner in which the Company expects, at the
end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax assets are recognized to the extent that it is probable that future taxable income will be available
against which the deductible temporary difference could be utilized. Such deferred tax assets and liabilities
are not recognized if the temporary difference arises from the initial recognition of assets and liabilities in a
transaction that affects neither the taxable profit nor the accounting profit.
Temporary differences in relation to a right-of-use asset and a lease liability for a specific lease are regarded
as a net package (the lease) for the purpose of recognizing deferred tax.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the
asset to be recovered. Unrecognized deferred tax assets are reassessed at each reporting and recognized to
the extent that it has become probable that future taxable profits will be available against which they can be
used.
The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable right and
these relate to taxes on income levied by the same governing taxation laws
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