Significant Accounting Policies

The significant accounting policies applied by the Company in the preparation of its Financial
Statements are listed below. Such accounting policies have been applied consistently to all the periods
presented in these Financial Statements.

a. Statement of Compliance

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind
AS) notified under Section 133 of the Companies Act, 2013. The financial statements have also been
prepared in accordance with the relevant presentation requirements of the Companies Act, 2013.

b. (1)Basis for Preparation & Presentation

The Financial Statements have been prepared under the historical cost convention on accrual basis with
the exception of certain assets and liabilities carried at fair values. The Assets and Liabilities have been
classified as Current/Non- Current as per the Company's normal operating cycle and other criteria set
out in the Act. Based on the nature of products and the time between the acquisition of assets for
processing and their realisation in Cash and Cash Equivalents, the Company has ascertained its
operating cycle as 12 months for the purpose of Current/Non- Current classification of Assets and
Liabilities. The statement of Cash Flows has been prepared under indirect method.

All amounts disclosed in the Financial Statements and accompanying notes have been rounded off to
the nearest lakhs as per the requirement of Schedule III of the Companies Act, 2013, unless otherwise
stated.

(2)Use of Estimates and Critical Accounting Judgements

The preparation of Financial Statements is in conformity with Generally Accepted Accounting
Principles which requires management to make estimates and assumptions. The estimates and the
associated assumptions

are based on historical experience, opinions of experts and other factors that are considered to be
relevant.

c. Property, Plant and Equipment-Tangible Assets

Property, Plant and Equipment are stated at cost, net of recoverable taxes, trade discounts and rebates
less accumulated depreciation and impairment losses, if any. Such cost includes purchase price,
borrowing cost and any cost directly attributable to bringing the assets to its working condition for its
intended use, net changes on foreign exchange contracts and adjustments arising from exchange rate
variations attributable to the assets. All other repairs and maintenance are charged to the Statement of
Profit and Loss during the reporting period in which they are incurred. An item of Property, Plant and
Equipment is derecognised upon disposal or when no future economic benefits are expected to arise

from continued use of asset.

Depreciation Method and Estimated Useful Life

Depreciation is calculated using the straight-line method on a pro-rata basis from the date on which
each asset is put to use to allocate their cost, net of their residual values, over their estimated useful
lives. The estimated useful lives are those prescribed under Schedule II to the Companies Act, 2013.

d. Intangible Assets and Amortisation

Intangible assets are stated at cost, net of recoverable taxes, trade discounts and rebates less
accumulated amortisation and impairment loss, if any. The cost comprises of purchase price, borrowing
costs and any cost directly attributable to bringing the asset to its working condition for the intended
use.

e. Impairment

Tangible and Intangible Assets are tested for impairment whenever events or changes in circumstances
indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the
amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount
is the higher of an asset's fair value less costs of disposal and value in use. Non financial assets that
suffered an impairment are reviewed for possible reversal of the impairment at the end of each
reporting period.

f. Leases

Company as a lessor:

The Company classifies the leases as either a finance lease or an operating lease depending on whether
the risks and rewards incidental to ownership of an underlying asset are transferred and recognises
finance income over the lease term.

Company as a lessee:

In accordance with Ind AS-116, the Company assesses whether a contract contains a lease ,at inception
of a contract. At the date of commencement of the lease, the Company recognises a "Right Of Use" asset
and a corresponding liability for all lease arrangements in which it is the lessee, except for leases with
a term of twelve months or less (short term leases) and low value leases. For these short term and low
value leases, the Company recognises the lease payments as an operating expense on a straight line
basis over the term of the lease. The right of use assets are amortised using the straight line method
from the commencement date over the shorter of lease term or useful life of right to use asset. The lease
payments are discounted using the interest rate implicit in the lease or if not readily determinable using
the incremental borrowing rates. Lease Liabilities are re measured with a corresponding adjustment to
the related right of use asset if the Company changes its assessment of whether it will exercise an
extension or termination option.

g. Financial Instruments

Financial Assets and Financial Liabilities are recognised when the Company becomes a party to the
contractual provisions of the relevant instrument or Financial Liabilities. Purchase and sale of Financial
Assets are recognised using trade date accounting.

Financial Assets

Financial Assets include Trade Receivables, Advances, Security Deposits, Cash and Cash Equivalents
etc. which are classified for measurement at amortised cost. Management determines the classification
of an asset at initial recognition depending on the purpose for which the assets were acquired. The
subsequent measurement of Financial Assets depends on such classification.

Impairment: The Company assesses at each reporting date whether a Financial Asset (or a group of
Financial Assets) are tested for impairment based on available evidence or information. Expected credit
losses are assessed and loss allowances recognised if the credit quality of the Financial Asset has
deteriorated significantly since initial recognition.

Income Recognition: Interest income is recognised in the Statement of Profit and Loss using the
effective interest method.

Financial Liabilities:

Borrowings, Trade Payables and other Financial Liabilities are initially recognised at the value of the
respective contractual obligations. They are subsequently measured at amortised cost using the
effective interest method. For trade and other payables maturing within one year from the Balance
Sheet date, the carrying amounts approximate fair value due to short maturity of these instruments.

De-Recognition:

Financial Liabilities are derecognised when the liability is extinguished, that is, when the contractual
obligation is discharged, cancelled and on expiry.

h. Inventories

Inventories are valued at lower of cost and net realisable value except waste which is valued at
estimated realisable value as certified by the management.

i. Revenue

Revenue is recognised when the performance obligation is satisfied by transferring promised goods or
services (i.e. an asset) to a customer. An asset is transferred when (or as) the customer obtains control
of that asset. Revenue is measured at the fair value of the consideration received or receivable net of
discounts, taking into account contractually defined terms and excluding taxes and duties collected on
behalf of the Government.

j. Foreign Currency Transactions

Items included in the Financial Statements are measured using the currency of the primary economic
environment in which the entity operates (the functional currency).The Standalone Ind AS Financial
Statements are presented in Indian Rupee (INR) which is Company's functional and presentation
currency.