2A Material accounting policies:

2.1 Basis of preparation of Standalone Financial

Statements ("financial statements"):

a) Statement of compliance

The financial statements of the Company as at
and for the year ended 31 March, 2025 have been
prepared in accordance with Indian Accounting
standards ('Ind AS') notified by the Ministry of
Corporate Affairs in consultation with the National
Advisory Committee on Accounting Standards,
under section 133 of the Companies Act, 2013
(‘Act') read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 (as amended)
and the 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 promulgations require a
different treatment.

The financial statements are authorised for issue
by the Board of Directors of the Company at its
meeting held on 29 May, 2025.

b) Basis of preparation and presentation

The preparation of financial statements in
accordance with Ind AS requires the use of certain
critical accounting estimates. It also requires
management to exercise its judgement in the
process of applying the Company's accounting
policies. The areas involving a higher degree
of judgement or complexity, or areas where
assumptions and estimates are significant to the
financial statements are disclosed in Note 2B.
Actual results could differ from those estimates.
The estimates and underlying assumptions
are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised 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.

The Company presents assets and liabilities
in Balance Sheet based on current/non-
current classification.

An asset is classified as current when it is:

a) Expected to be realised or intended to be sold
or consumed in normal operating cycle*,

b) Held primarily for the purpose of trading,

c) Expected to be realised within twelve months
after the reporting period, or

d) Cash or cash equivalent unless restricted
from being exchanged or used to settle a
liability for at least twelve months after the
reporting period.

*The operating cycle is the time between the acquisition
of assets for processing and their realisation in cash
or cash equivalents. The Company's normal operating
cycle is twelve months

All other assets are classified as non-current.

A liability is classified as current when:

a) it is expected to be settled in normal
operating cycle,

b) it is held primarily for the purpose of trading,

c) i t is due to be settled within twelve months
after the reporting period

d) 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.

c) Basis of measurement

These financial statements are prepared under
historical cost convention except for provision for
defined benefit obligations and certain financial
instruments measured at fair value at the end
of each reporting period as explained in the
accounting policies below.

Fair value measurements are categorised 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 assets or liabilities, either directly or
indirectly; and

• Level 3 inputs are unobservable inputs for the
valuation of assets or liabilities.

Above levels of fair value hierarchy are applied
consistently and generally, there are no transfers
between the levels of the fair value hierarchy
unless the circumstances change warranting
such transfer.

d) Functional and Presentation Currency

These financial statements are presented in
Indian rupees, which is the functional currency
of the Company and the currency of the primary
economic environment in which the Company
operates. The financial statements are prepared in
Indian Rupees in Million, rounded off to the nearest
one decimal except for share data and per share
data, unless otherwise stated.

e) Going Concern

The directors have, at the time of approving the
standalone financial statements, a reasonable
expectation that the Company has adequate
resources to continue in operational existence for
the foreseeable future. Thus, the Company has
applied the going concern basis of accounting in
preparing the standalone financial statements.

2.2 Property, plant and equipment ("PPE"):

i) Recognition and Measurement

a) The cost of an item of property, plant and
equipment shall be recognised 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.
Items of PPE are carried at cost less accumulated
depreciation and impairment losses, if any. The
cost of an item of PPE comprises its purchase price,
including import duties and other non- refundable
taxes or levies and any directly attributable cost of
bringing the assets to its working condition for its
intended use and any trade discount and rebates

are deducted in arriving at purchase price. Cost
of the assets also includes interest on borrowings
attributable to acquisition of qualifying fixed assets
up to the date the asset is ready for its intended use
incurred up to that date.

b) If significant parts of an item of PPE have different
useful lives, then they are accounted for as
separate items (major components) of PPE.

c) Any gain or loss on disposal of an item of PPE is
recognised in statement of profit and loss.

d) Cost of Items of Property, plant and equipment not
ready for intended use as on the balance sheet date,
is disclosed as capital work in progress. Advances
given towards acquisition of property, plant and
equipment outstanding at each balance sheet date
are disclosed as Capital Advance under Other non
current assets.

e) The cost property, plant and equipment at 1 April,
2016, the Company's date of transition to Ind AS,
was determined with reference to its carrying value
recognised as per the previous GAAP (deemed
cost), as at the date of transition to Ind AS.

f) PPE is derecognised upon disposal or when no
future economic benefits are expected from
its use or disposal. Any gain or loss arising on
derecognition is recognised in the Statement of
Profit and Loss in the same period.

ii) Subsequent expenditure

Subsequent expenditure relating to PPE is capitalised
only if such expenditure results in an increase in the
future benefits from such asset beyond its previously
assessed standard of performance and the cost of the
item can be measured reliably.

iii) Depreciation

Depreciation is the systematic allocation of the
depreciable amount of PPE over its useful life and is
provided on a straight-line basis over the useful lives
as prescribed under Schedule II to the Act or as per
technical assessment. The residual values, useful
lives and method of depreciation of PPE is reviewed
at each financial year end and adjusted prospectively,
if appropriate.

Depreciation on additions / disposals is provided on
a pro-rata basis i.e. from / up to the date on which
asset is ready to use / disposed off. Freehold land is
not depreciated.

iii) Amortisation

Amortisation is calculated to write off the cost of
intangible assets less their estimated residual values
using the straight-line method over their estimated
useful lives, and is generally recognised in statement
of profit and loss. The amortisation period and the
amortisation method for finite-life intangible assets
is reviewed at each financial year end and adjusted
prospectively, if appropriate.

The cost of Intangible assets at 1 April, 2016, the
Company's date of transition to I n d AS, was determined
with reference to its carrying value recognised as per
the previous GAAP (deemed cost), as at the date of
transition to Ind AS.

ii) Subsequent expenditure

Subsequent expenditure is capitalised only when it 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. All other expenditure,
including expenditure on internally generated goodwill
and brands, is recognised in statement of profit and loss
as incurred.

2.4 Impairment of non-financial assets:

At each reporting date, the Company reviews the
carrying amounts of its non-financial assets (other
than inventories and deferred tax assets) to determine
whether there is any indication of impairment. If any
such indication exists, then the asset's recoverable
amount is estimated. For impairment testing, assets
are grouped together into the smallest group of assets
that generates cash inflows from continuing use that
are largely independent of the cash inflows of other
assets or Cash generating units ("CGU"). The recoverable
amount of an asset or CGU is the greater of its value in
use and its fair value less costs to sell. Value in use is
based on the estimated future cash flows, 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 CGU. An
impairment loss is recognised if the carrying amount
of an asset or CGU exceeds its recoverable amount.
Impairment losses are recognised in the statement of
profit and loss. An impairment loss is reversed only
to the extent that the asset's carrying amount does
not exceed the carrying amount that would have been
determined, net of depreciation or amortisation, if no
impairment loss had been recognised.

2.5 Leases and Right of use (ROU):

The Company as a lessee

The Company assesses whether a contract contains
a lease, at inception of a contract. A contract is, or
contains, a lease if the contract conveys the right to
control the use of an identified asset for a period of
time in exchange for consideration. To assess whether
a contract conveys the right to control the use of an
identified asset, the Company assesses whether:

(i) the contract involves the use of an identified asset;

(ii) the Company has substantially all of the economic
benefits from use of the asset through the period
of the lease and

(iii) the Company has the right to direct the use of

the asset.

At the date of commencement of the lease, the
Company recognizes a right-of-use asset (“ROU”) and a
corresponding lease liability for all lease arrangements
in which it is a 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 recognizes the lease payments as an
operating expense on a straight-line basis over the term
of the lease.

The Company leases warehouse and factory facilities.
Certain lease arrangements include the options to
extend the lease before the end of the lease term, but
the renewal aspect has not been added to the lease
term since the option to renew the lease lies with both
the lessor and the lessee.

The right-of-use assets are initially recognized at cost,
which comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the
commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and
impairment losses.

Right-of-use assets are depreciated from the
commencement date on a straight-line basis over the
shorter of the lease term and useful life of the underlying
asset. Right of use assets are evaluated for recoverability
whenever events or changes in circumstances indicate
that their carrying amounts may not be recoverable.

The lease liability is initially measured at amortized cost
at the present value of the future lease payments. The
lease payments are discounted using discount rates
generally based on the incremental borrowing rate
specific to the lease being evaluated or for a portfolio of
leases with similar characteristics. Carrying amount of
lease liability is increased by interest on lease liability
and reduced by lease payments made. Lease liabilities
are remeasured with a corresponding adjustment to the
related right of use asset if the Company changes its
assessment if whether it will exercise an extension or
a termination option. Lease liability and ROU asset have
been separately presented in the Balance Sheet.

Lease payments associated with following leases are
recognised as expense on straight-line basis:

(i) Low value leases; and

(ii) Leases which are short-term.

2.6 Financial instruments:

Recognition initial measurement

Trade receivables are initially recognised when they
originate. All other financial assets and financial
liabilities are initially recognised when the Company
becomes a party to the contractual provisions of
the instrument.

A financial asset or financial liability is initially measured
at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets
and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss)
are added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate,
on initial recognition. However, trade receivables that
do not contain a significant financing component are
measured at transaction price.

Classification and subsequent measurement
Financial Assets

On initial recognition, a financial asset is classified as
measured at:

• amortised cost or

• FVTPL

Financial assets are not reclassified subsequent to their
initial recognition, except if and in the period the Company
changes its business model for managing financial assets.
A financial asset is measured at amortised cost if
it meets both of the following conditions and is not
designated as at FVTPL:

• the asset is held within a business model whose
objective is to hold assets to collect contractual cash
flows; and

• the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely
payments of principal and interest on the principal
amount outstanding.

Financial assets: Business model assessment

The Company makes an assessment of the objective
of the business model in which a financial asset is held
at a portfolio level because this best reflects the way

the business is managed and information is provided to
management. The information considered includes:

• the stated policies and objectives for the portfolio
and the operation of those policies in practice. These
include whether management's strategy focuses on
earning contractual interest income, maintaining a
particular interest rate profile, matching the duration
of the financial assets to the duration of any related
liabilities or expected cash outflows or realising cash
flows through the sale of the assets;

• how the performance of the portfolio is evaluated and
reported to the Company's management;

• the risks that affect the performance of the business
model (and the financial assets held within that
business model) and how those risks are managed;

• how managers of the business are compensated -e.g.
whether compensation is based on the fair value of

the assets managed or the contractual cash flows
collected; and

• the frequency, volume and timing of sales of financial
assets in prior periods, the reasons for such sales and
expectations about future sales activity.

Transfers of financial assets to third parties in
transactions that do not qualify for derecognition are
not considered sales for this purpose, consistent with
the Company's continuing recognition of the assets.

Financial assets that are held for trading or are managed
and whose performance is evaluated on a fair value
basis are measured at FVTPL.

The Company recognises transfers between levels of the
fair value hierarchy at the end of the reporting period
during which the change has occurred.

Financial assets: Assessment whether contractual
cash flows are solely payments of principal and
interest

For the purposes of this assessment, 'principal' is
defined as the fair value of the financial asset on initial
recognition. 'Interest' is defined as consideration for the
time value of money and for the credit risk associated
with the principal amount outstanding during a
particular period of time and for other basic lending
risks and costs (e.g. liquidity risk and administrative
costs), as well as a profit margin.

I n assessing whether the contractual cash flows are
solely payments of principal and interest, the Company
considers the contractual terms of the instrument. This
includes assessing whether the financial asset contains

a contractual term that could change the timing or
amount of contractual cash flows that it would not
meet this condition. In making this assessment, the
Company considers:

• contingent events that would change the amount or
timing of cash flows;

• terms that may adjust the contractual coupon rate,
including variable interest rate features;

• prepayment and extension features; and

• terms that limit the Company's claim to cash flows
from specified assets (e.g. non-recourse features).

A prepayment feature is consistent with the solely
payments of principal and interest criterion if the
prepayment amount substantially represents unpaid
amounts of principal and interest on the principal
amount outstanding, which may include reasonable
additional compensation for early termination of the
contract. Additionally, for a financial asset acquired
at a significant discount or premium to its contractual
par amount, a feature that permits or requires
prepayment at an amount that substantially represents
the contractual par amount plus accrued {but unpaid)
contractual interest (which may also include reasonable
additional compensation for early termination) is treated
as consistent with this criterion if the fair value of the
prepayment feature is insignificant at initial recognition.

Financial liabilities: Classification, subsequent
measurement and gains and losses

Financial liabilities are classified as measured at
amortised cost or FVTPL. A financial liability is classified
as at FVTPL if it is classified as held-for-trading, or it is a
derivative or it is designated as such on initial recognition.
Financial liabilities at FVTPL are measured at fair value
and net gains and losses including any interest expense,

are recognised in profit or loss. Other financial liabilities
are subsequently measured at amortised cost using
the effective interest method. Interest expense and
foreign exchange gains and losses are recognized in
profit or loss. Any gains or loss on derecognition is also
recognized in the statement of profit and loss.

Derecognition
Financial assets

The Company derecognizes a financial asset when the
contractual rights to the cash flows from the financial
asset expire, or it transfers the rights to receive the
contractual cash flows in a transaction in which
substantially all of the risks and rewards of ownership
of the financial asset are transferred or in which the
Company neither transfers not retains substantially
all of the risks and rewards of ownership but does not
retain control of the financial asset.

I f the Company enters into transactions whereby it
transfers assets recognized on its balance sheet, but
retains either all or substantially all of the risks and
rewards of the transferred assets, the transferred
assets are not derecognized. On derecognition of a
financial asset in its entirety, the difference between
the carrying amount at the date of derecognition and
the consideration received is recognised in profit or loss.

Financial liabilities

The Company derecognises a financial liability when its
contractual obligations are discharged or cancelled,
or expired.

The Company also derecognises a financial liability
when its terms are modified and the cash flow under the
modified terms are substantially different. In this case,
a new financial liability based on the modified terms is
recognised at fair value. The difference between the
carrying amount of the financial liability extinguished
and the new financial liability with modified terms is
recognised in the statement of profit and loss.

Offsetting

Financial assets and financial liabilities are offset and
the net amount presented in the balance sheet when,
and only when, the Company currently has a legally
enforceable right to set off the amounts and it intends
either to settle them on a net basis or to realise the asset
and settle the liability simultaneously.

2.7 Equity instruments

Equity instruments issued by the Company are
classified according to the substance of the contractual
arrangements entered into and the definitions of an

equity instrument. An equity instrument is any contract
that evidences a residual interest in the assets of the
Company after deducting all of its liabilities and includes
no obligation to deliver cash or other financial assets.

2.8 Inventories:

a) Raw Materials and Packing Materials are valued at
cost, if the finished products in which they will be
incorporated are expected to be sold at or above cost. If
the decline in selling price of finished goods indicate that
the cost of finished goods exceeds net realisable value,
the materials are written down to net realisable value;
cost is calculated on moving weighted average basis.

b) Finished Goods and Work-in-Progress are valued at
lower of cost (on Moving weighted average basis) and
net realisable value. In respect of finished goods, cost
includes materials, appropriate share of utilities and
other overheads. Trading Goods are valued at lower
of cost (on Moving weighted average basis) and net
realisable value. Cost of inventories comprises all
costs of purchase, costs of conversion and other costs
incurred in bringing the inventories to their present
location and condition.

c) Net realisable value is the estimated selling price in the
ordinary course of business, less the estimated costs of
completion and the estimated costs necessary to make
the sale on item-by-item basis.

2.9 Revenue Recognition and measurement:

Revenue from operations

a) Revenue from sale of goods is recognised when
control of the goods is transferred to the customer
at an amount that reflects the consideration
to which the Company expects to be entitled in
exchange for those goods at a point in time. The
Company assesses promises in the contract
that are separate performance obligations to
which a portion of transaction price is allocated.
Revenue towards satisfaction of a performance
obligation is measured at the amount of transaction
price (net of variable consideration) allocated
to that performance obligation. The transaction
price of goods sold and services rendered is net
of variable consideration on account of various
discounts and schemes offered by the Company
as part of the contract. Accumulated experience
is used to estimate the provision for discounts,
probable saleable and non-saleable return of goods
from the customers. Revenue is only recognised to
the extent that it is highly probable a significant
reversal will not occur.

b) Export benefits available under prevalent schemes
are accrued in the year in which the goods are
exported and no significant uncertainty exist
regarding its ultimate collection.

Other income

a) Interest income is recognized using the effective
interest rate (EIR) method.

b) Revenue (including in respect of insurance or other
claims, etc.) is recognised when it is reasonable to
expect that the ultimate collection will be made.

c) Income from services rendered is recognised over a
period of time based on agreements/arrangements
with the customers as the service is performed and
there are no unfulfilled obligations.

d) Dividend income is accounted in the period in which
the right to receive the same is established.

Refund liabilities:

A refund liability is the obligation to refund part or all
of the consideration received (or receivable) from the
customer. The Company has therefore recognised
refund liabilities in respect of customer's right to return.
The liability is measured at the amount the Company
ultimately expects it will have to return to the customer.
The Company updates its estimate of refund liabilities
(and the corresponding change in the transaction price)
at the end of each reporting period.

The Company has presented its refund liabilities as
required under Ind AS 115 in the financial statements.

2.10 Foreign currency transactions and translations

Transactions in foreign currencies are translated into
the functional currency of the Company by applying the
appropriate fortnightly rate which best approximates
the actual rate of the transaction.

Monetary assets and liabilities denominated in foreign
currencies are translated into the functional currency at
the exchange rate at the reporting date. Non-monetary
assets and liabilities that are measured at fair value in
a foreign currency are translated into the functional
currency at the exchange rate when the fair value was
determined. Foreign currency differences are generally
recognised in the statement of profit and loss. Non¬
monetary assets and liabilities that are measured based
on historical cost in a foreign currency are translated at
the exchange rate at the date of the transaction.

2.11 Employee Benefits:

a) Post Employment Benefits and Other Long

Term Benefits:

i) Defined Contribution Plan:

Company's contribution for the year paid/
payable to defined contribution retirement
benefit schemes are charged to Statement of
Profit and Loss in period in which the related
service is provided by the employee. The
Company's contribution towards provident
fund are considered to be defined contribution
plan which are expensed as employee benefit
expenses in the statement of profit and loss
in the period in which the related service
is provided for which the Company makes
contribution on monthly basis. The Company's
legal or constructive obligation is limited to the
contribution it makes.

ii) Defined Benefit Plans:

Company's liabilities towards defined benefit
plans viz. gratuity expected to occur after
twelve months, are determined annually
by a qualified actuary using the Projected
Unit Credit Method. Actuarial valuations
under the Projected Unit Credit Method are
carried out at the balance sheet date by an
independent actuary. Actuarial gains and
losses are recognised in the Statement of
Other Comprehensive income in the period
of occurrence of such gains and losses for
gratuity. The retirement benefit obligation
recognised in the balance sheet represents
the present value of the defined benefit
obligation as adjusted for unrecognised past
service cost.

iii) Other long-term employee benefits -
compensated absences:

Accumulated absences expected to be carried
forward beyond twelve months is treated as
long-term employee benefit for measurement
purposes. The Company's net obligation in
respect of other long-term employee benefit
of accumulating compensated absences is the
amount of future benefit that employees have
accumulated at the end of the year. In respect
of compensated absences, actuarial gains/
losses, if any, are recognised immediately
in the Statement of Profit and Loss. That
benefit is discounted to determine its present
value. The obligation is measured annually

by a qualified actuary using the projected
unit credit method. Remeasurements are
recognised in profit or loss in the period in
which they arise.

b) Short term Employee Benefits:

Short term employee benefits are benefits payable
and recognised in 12 months. Short-term employee
benefits expected to be paid in exchange for the
services rendered by employees are recognised
undiscounted during the year as the related
service are rendered by the employee. These
benefits include performance incentives. These
are expensed as employee benefit expense in the
statement of profit and loss in the period in which
the related service is provided by the employees.

2.12 Taxes on Income:

Income tax expense represents the sum of the current

tax and deferred tax.

i) Current tax

Current tax comprises the expected tax payable
or receivable on the taxable income or loss for
the year and any adjustment to the tax payable
or receivable in respect of previous years. The
amount of current tax reflects the best estimate
of the tax amount expected to be paid or received
after considering the uncertainty, if any, related
to income taxes. It is measured using tax rates and
tax laws enacted or substantively enacted by the
reporting date.

Current tax assets and current tax liabilities are
offset only if there is a legally enforceable right to
set off the recognised amounts, and it is intended
to realise the asset and settle the liability on a net
basis or simultaneously.

ii) Deferred tax

Deferred tax is recognised in respect of temporary
differences between the carrying amounts of
assets and liabilities for financial reporting
purposes and the corresponding amounts used for
taxation purposes. Deferred tax is also recognised
in respect of carried forward tax losses and tax
credits. However, deferred tax is not recognised :

• in case of temporary differences that arise
from initial recognition of assets or liabilities in
a transaction (other than business combination)
that affect neither the taxable profit nor the
accounting profit

• in case of temporary differences if any that
may arise from initial recognition of goodwill,
deferred tax liabilities are not recognised

• in case of temporary differences related to
investments in subsidiaries to the extent that
the Company is able to control the timing of
the reversal of the temporary differences and
it is probable that they will not reverse in the
foreseeable future

Deferred tax assets are recognised to the extent
that it is probable that future taxable profits will
be available against which they can be used. The
existence of unused tax losses is strong evidence
that future taxable profit may not be available.
Therefore, in case of a history of recent losses, the
Company recognises a deferred tax asset only to
the extent that it has sufficient taxable temporary
differences or there is convincing other evidence
that sufficient taxable profit will be available
against which such deferred tax asset can be
realised. Deferred tax assets unrecognised or
recognised, are reviewed at each reporting date
and are recognised/ reduced to the extent that it is
probable/ no longer probable respectively that the
related tax benefit will be realised.

Deferred tax is measured at the tax rates
that are expected to apply to the period when
the asset is realized or the liability is settled,
based on the laws that have been enacted or
substantively enacted by the reporting date.
The measurement of deferred tax reflects the tax
consequences that would follow from the manner
in which the Company expects, at the reporting
date, to recover or settle the carrying amount of
its assets and liabilities.

Deferred tax assets and liabilities are offset if
there is legally enforceable right to offset current
tax liabilities and assets, and they relate to income
taxes levied by the same tax authority on the same
taxable entity, or on different tax entities, but they
intend to settle current tax liabilities and assets on
a net basis or their tax assets and liabilities will be
realized simultaneously.

Transaction or event which is recognised outside
profit or loss, either in other comprehensive
income or in equity, is recorded along with the tax
as applicable.

Minimum Alternate Tax (MAT) under the provision
of Income Tax Act, 1961 is recognized as current
tax in the Statement of Profit and Loss. The credit
available under the Act in respect of MAT paid is
recognised as an asset only when and to the extent
there is resonable evidence that the company
will pay normal income tax during the period
for which the MAT credit can be carried forward
for set off against the normal tax liability. MAT
credit recognised as an asset is reviewed at each
balance sheet date and written down to the extent
the aforesaid convincing evidence no longer exists.
Minimum Alternate Tax (MAT) Credit are in the form
of unused tax credits that are carried forward by
the Company for a specified period of time, hence,
it is presented as Deferred Tax Asset.