2 Significant Accounting Policies.

2.1 Statement of compliance

The standalone financial statements for the year ended March 31, 2026 have been prepared in accordance with Ind AS notified
under the Companies (Indian Accounting Standards) Rules, 2015 (as amended).

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a
revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

2.2 Basis of Preparation

The standalone financial statements have been prepared on a historical cost basis, except for the certain financial assets
measured at fair value (refer accounting policy regarding financial instruments).

The standalone financial statements are presented in ? and all values are rounded to the nearest ? lakh with two decimal points,
except when otherwise indicated.

All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other
criteria set out in Ind AS 1 ‘Presentation of Financial Statements’ and Schedule III to the Companies Act, 2013.

Current Assets do not include elements which are not expected to be realised within 12 months and Current Liabilities do not
include items which are due after 12 months, the period of 12 months being reckoned from the reporting date.

2.3 Revenue Recognition:

The Company has adopted Ind AS 115 using the cumulative effect method with the effect of initially applying this standard
recognized at the date of initial application (i.e. 1 April 2018).

Revenue from project development activity which are in substance similar to delivery of goods is recognised upon transfer of
significant risk and rewards of ownership of the goods to the customer which generally coincides with delivery and acceptance of
the goods sold. The Company adopts percentage completion method of revenue recognition. The method adopted for
determining work performed is based on completion of physical proportion of the contract work. The expenses on incomplete
projects are recognised and disclosed under the head 'Contract in Progress'.

Revenue is recognised to the extent that it is probable that economic benefit will flow to the Company and that the revenue can
be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

Interest income is accounted for on an accrual basis at effective interest rates applicable on initial recognition.

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company
performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a
contract asset is recognised for the earned consideration that is conditional.

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received
consideration from the customer. If a customer pays consideration before the Company transfers goods or services to the
customer, a contract liability is recognised when the payment is made. Contract liabilities are recognised as revenue when the
Company performs under the contract.

2.4 Property Plant and equipment:

Property, plant and equipment (PPE) are stated at cost of acquisition less accumulated depreciation and impairment loss, if any.
Depreciation has been provided based on the useful life prescribed in Schedule II of the Companies Act, 2013 in the manner
stated therein. Depreciation on assets added, sold or discarded during the year is provided on pro rata basis.

For transition to Ind AS, the Company has elected to continue with the carrying value of all its property, plant and equipment
recognised as of April 1, 2016 (transition date) measured as the Previous GAAP and used that carrying value as deemed cost
as of the transition date.

2.5 Taxation

Income tax expense comprises current and deferred tax. Tax expenses are recognised in the standalone statement of profit and
loss, except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case the
corresponding tax effect is also recognised directly in equity or in other comprehensive income.

(i) Current tax

The current tax is the expected tax payable on the taxable income for the year on the basis of the tax laws enacted or
substantively enacted at the reporting date and any adjustments to tax payable in previous years. Taxable profit differs from
profit as reported in the standalone statement of Profit and Loss because it excludes items of income or expense that are
taxable or deductible in other years and it further excludes items that are never taxable or deductible.

(ii) Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilised.

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.

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 realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of
the reporting period.

2.6 Inventories:

Inventories are valued at cost or net realisable value whichever is lower. Cost is determined on weighted average basis.

2.7 Impairment of non-financial assets

The carrying amount of assets are reviewed at each balance sheet date for any indication of impairment based on
internal/external factors. An asset is impaired when the carrying amount of the asset exceeds the recoverable amount. An
impairment loss is charged to the standalone statement of profit and loss in the year in which an asset is identified as impaired.

2.8 Borrowing Cost:

Interest and other costs in connection with borrowing of funds to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalised upto the date when such assets are ready for its intended use and other borrowing cost are
charged to standalone statement of profit and loss.

2.9 Retirement Benefits:

(i) Short term employee benefits

Short term employee benefits are recognised as expenditure at the undiscounted amount in the standalone statement of profit
and loss of the year in which the related service is rendered on accrual basis.

(ii) Post employment benefits

Post employment and other long term employee benefits comprise of gratuity and compensated absences. The gratuity plan is a
defined benefit plan. The cost of gratuity benefits is determined based on the actuarial valuation using the projected unit
method. The liability of compensated absences is worked out by the management on the basis of outstanding number of leaves
multiplied with the last drawn basic salary.

The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows by reference
to market yields at the end of the reporting period on government bonds that have terms approximating to the terms of the
related obligation.

Re-measurements gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised
in the period in which they occur, directly in other comprehensive income and is not reclassified to profit or loss. They are
included in retained earnings in the standalone statement of changes in equity.

Past service cost is recognised in profit or loss in the period of a plan amendment. The net interest cost is calculated by applying
the discount rate to the net balance of the defined benefit obligation. This cost is included in employee benefit expense in the
standalone statement of profit and loss.

2.10 Leases:

The Company as lessee

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. 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 short term leases and low value
leases. For 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.

Transition to Ind AS 116

Effective April 1, 2019, the Company has adopted Ind AS 116 “Leases” and applied the standard to all lease contracts existing
on April 1, 2019. The Company has evaluated and classified all lease contract existing as at April 1, 2019 as short term leases /
low value leases.