1 Corporate information
B&B Triplewall Containers Limited is a Public Limited Company incorporated and domiciled in India. Its registered office and principal place of
business are situated at SY.NO.263/2/3, Marsur Madivala, Kasaba Hobli, Anekal Taluk, Bengaluru-562106. The principal activities of the Company
are the manufacture and sale of corrugated boards, boxes and kraft paper, including kraft paper manufactured for captive consumption as well as for
sale to external customers.
2 Basis Of Preparation And Measurement
2.1 Statement of compliance
These standalone financial statements ('financial statements') of the Company have been prepared in accordance with the accounting principles
generally accepted in India, including the Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 ('the Act')
and other relevant provisions of the Act. The Company has uniformly applied the accounting policies during the periods presented.
2.2 Basis of preparation
The financial statements have been prepared on accrual and going concern basis.
All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria as set out in the
Division II of Schedule III to the Companies Act, 2013. Based on the nature of products and the time between 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 or non-current
classification of assets and liabilities.
The financial statements are presented in INR (Rs. Lakhs), the functional currency of the Company unless other wise stated. Items included in the
financial statements of the Company are recorded using the currency of the primary economic environment in which the Company operates (the
'functional currency').
2.3 Basis of measurement
These financial statements have been prepared on historical cost basis, except for certain financial instruments which are measured at fair value or
amortised cost at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of
the consideration given in exchange for goods and services. 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.
2.4 Key Accounting Estimates And Judgements
The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires the management of the
Company to make estimates and assumptions that affect the reported balances of assets and liabilities, disclosures of contingent liabilities as at the date
of the financial statements and the reported amounts of income and expense for the periods presented.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the
estimates are revised and future periods are affected.
Key sources of estimation of uncertainty at the date of the financial statements, which may cause a material adjustment to the carrying amounts of
assets and liabilities within the next financial year, are in respect of impairment of investments, useful lives of property, plant and equipment,
valuation of deferred tax assets and fair value measurement of financial instruments, these are discussed below. Key sources of estimation of
uncertainty in respect of revenue recognition, employee benefits and provisions and contingent liabilities have been discussed in their respective
policies.
Impairment of Financial assets
The Company reviews its carrying value of investments carried at amortised cost annually, or more frequently when there is indication for impairment.
If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.
Useful lives of property, plant and equipment
The Company reviews the useful life of property, plant and equipment at the end of each reporting period. This reassessment may result in change in
depreciation expense in future periods.
Valuation of deferred tax assets
The Company reviews the carrying amount of deferred tax assets at the end of each reporting period.
Fair value measurement of financial instruments
When the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active
markets, their fair value is measured using valuation techniques including the Discounted Cash Flow model. The inputs to these models are taken from
observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include
considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fairvalue
of financial instruments.
2.5 Recent Accounting Pronouncements
The Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to existing standards under the Companies (Indian Accounting
Standards) Rules, 2015, from time to time. During the year, MCA has notified certain amendments to Ind AS applicable for annual reporting periods
beginning on or after 1 April 2025. The Company has evaluated the amendments and, based on its assessment, these amendments do not have a
material impact on the financial statements of the Company for the year ended 31 March 2026.
3 Material Accounting Policies
The material 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, unless otherwise indicated.
3.1 Property, Plant and Equipment:
Property, plant and equipment are stated at cost comprising of purchase price and any initial directly attributable cost of bringing the asset to its
working condition for its intended use, less accumulated depreciation (other than freehold land) and impairment loss, if any.
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when 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 repairs and
maintenance cost are charged to the Statement of Profit and Loss during the period in which they are incurred.
Gains or losses arising on retirement or disposal of property, plant and equipment are recognised in the Statement of Profit and Loss.
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".
Depreciation is provided on a pro-rata basis on the written-down-value method based on estimated useful life prescribed under Schedule II to the
Companies Act, 2013. Depreciation is not recorded on capital work-in-progress until construction and installation is complete and the asset is ready for
its intended use.
The residual values, useful lives and method of depreciation of property, plant and equipment is reviewed at each financial year end and adjusted
prospectively, if appropriate.
3.2 Investment Property
Investment properties are properties held to earn rentals and/or for capital appreciation (including property under construction for such purposes).
Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are measured
in accordance with Ind AS 16's requirements for cost model. The cost of Investment property includes the cost of replacing parts and borrowing costs
for long-term construction projects if the recognition criteria are met. When significant parts of the investment property are required to be replaced at
intervals, the Company depreciates them separately based on their specific useful lives. All other repair and maintenance costs are recognised in
statement of profit and loss as incurred.
An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic
benefits are expected from the disposal. Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal
proceeds and the carrying amount of the asset) is included in Statement of Profit and Loss in the period in which the property is derecognised.
3.3 Intangible Assets
Intangible Assets are recognised, if the future economic benefits attributable to the assets are expected to flow to the company and cost of the asset can
be measured reliably. All other expenditure is expensed as incurred. The same are amortised over the expected duration of benefits. Such intangible
assets are measured at cost less any accumulated amortisation and impairment losses.
The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting
period and adjusted prospectively, if appropriate.
3.4 Impairment of Non-financial assets - Tangible and intangible assets
Property, plant and equipment and intangible assets with finite life are evaluated for recoverability whenever there is any indication that their carrying
amounts may not be recoverable. If any such indication exists, the recoverable amount (i.e. higher of the fair value less cost to sell and the value-inuse)
is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such
cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.
If the recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to
its recoverable amount. An impairment loss is recognised in the statement of profit and loss.
3.5 Investments
(a) Investments in subsidiaries, which are measured at cost in accordance with Ind AS 27 - Separate Financial Statements; and
(b) Investments in debt-type financial instruments relating to power generation entities, which are measured at amortised cost in accordance with Ind
AS 109 - Financial Instruments.
3.6 Inventories
Inventories such as Raw Materials, Work-in-Progress, Finished Goods, Stores & Spares, Tools valued at the lower of cost or net realisable value (except
scrap/waste which are value at net realisable value).
The cost is computed on weighted average basis. Finished Goods and Process Stock include cost of conversion and other costs incurred in bringing the
inventories to their present location and condition.
3.7 Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.
The specific recognition criteria described below also be met before revenue is recognised.
Sale of goods
Revenue from the sale of goods is recognised, when control of goods being sold is transferred to customer and where there are no longer any
unfulfilled obligations. The performance obligations in contracts are considered as fulfilled in accordance with the terms agreed with the respective
customers.
Revenue from the sale of goods is measured on transaction price excluding estimates of variable consideration that is allocated to performance
obligations. Sales as disclosed, are exclusive of Goods and Services Tax.
The company considers the terms of the contract and its customary business practices to determine the transaction price. The transaction price is the
amount of consideration to which the company expects to be entitled in exchange for transferring promised goods to a customer, excluding amount
collected on behalf of third parties (for example taxes collected on behalf of government). The consideration promised in a contract with a customer
may include fixed consideration, variable consideration (if reversal is less likely in future), or both.
The transaction price is allocated by the company to each performance obligation in an amount that depicts the amount of consideration to which it
expects to be entitled in exchange for transferring the promised goods to the customer.
Sale of services
Revenue is recognised upon transfer of control of promised services to customers in an amount that reflects the consideration which the Company
expects to receive in exchange for those services.
Interest income
Interest income is recognized on time proportion basis using the effective interest method.
Rental income
Rental income from investment properties is recognised on a straight line basis over the term of the lease.
3.8 Income Taxes
Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred taxes
are recognised in statement of profit and loss, except when they relate to items that are recognised in other comprehensive income or directly in equity,
in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity, respectively. Interest expenses and
penalties, if any, related to income tax are included in finance cost and other expenses respectively. Interest Income, if any, related to Income tax is
included in Other Income.
Current income taxes
Current income tax is the expected tax payable/receivable on the taxable income/loss for the year using applicable tax rates for the relevant period,
and any adjustment to taxes in respect of previous years.
Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid and income tax provision
arising in the same tax jurisdiction and where there is an intention to settle the asset and the liability on a net basis.
Deferred income taxes
Deferred tax is recognised in respect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and
the orresponding amounts used for taxation purposes.
A deferred tax liability is recognised based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax
rates enacted, or substantively enacted, by the end of the reporting period. Deferred tax assets are recognised only to the extent that it is probable that
future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reviewed at each reporting date and reduced to
the extent that it is no longer probable that the related tax benefit will be realised.
Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax
liabilities; and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority.
3.9(a) Leases
Leases in which a substantial portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments and
receipts under such leases are recognised to the Statement of Profit and Loss on a straight-line basis over the term of the lease unless the lease payments
to the lessor are structured to increase in line with expected general inflation to compensate for the lessor's expected inflationary cost increases, in
which case the same are recognised as an expense in line with the contractual term.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards incidental to ownership to the
lessee.
"Ind AS 116 requires lessees to determine the lease term as the non-cancellable period of a lease adjusted with any option to extend or terminate the
lease, if the use of such option is reasonably certain. The Company makes an assessment on the expected lease term on a lease-by-lease basis and
thereby assesses whether it is reasonably certain that any options to extend or terminate the contract will be exercised. Accordingly, it recognises the
Right of use asset as well as Lease obligations considering the lease agreement"
3.9(b) Borrowing costs
Borrowing costs that are directly attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A
qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use.
Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the
borrowing costs eligible for capitalisation.
All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.
3.10 Foreign Currencies
Foreign currency transactions are translated into the functional currency using exchange rates at the date of the transaction. Foreign exchange gains
and losses from settlement of these transactions are recognised in the Statement of Profit and Loss. Foreign currency denominated monetary assets and
liabilities are translated into functional currency at exchange rates in effect at the balance sheet date, the gain or loss arising from such translations are
recognised in the statement of profit & loss.
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