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 manufacture and sale of corrugated boards & boxes.
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, the functional currency of the Company. 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 fair value of financial instruments.
2.5 Recent Accounting Pronouncements
Ministry of Corporate Affairs ('MCA') notifies new standard or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. For the year ended 31 March 2025, MCA has not notified
any new standards or amendments to the existing standards applicable to the Company.
3 Material Accounting Policy Information
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
Non current investments include Investments in subsidiary and these are measured at cost as per Ind AS 27".
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 s 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 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"
4.0 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.
|