a) Basis of preparation

These financial statements have been prepared under the historical cost convention, on the accrual basis of accounting in accordance with the
Generally Accepted Accounting Principles (GAAP) in India. Indian GAAP includes mandatory accounting standards as specified under the Companies
(Accounting Standards) Rules, 2006 and presentational requirements of the Companies Act, 2013 and other accounting pronouncements of The
Institute of Chartered Accountants of India.

b) Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles in India (GAAP) requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of the
financial statements and the results of operations during the year. Differences between actual results and estimates are recognised in the year in
which the results are known or materialised. Examples of such estimates are estimated useful life ol assets, provision for doubtful debts and
retirement benefits, etc. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively in current
and future periods.

c) Revenue Recognition

Revenue from sale of goods is recognized on transfer of all significant risks and rewards of ownership to the customer, which generally coincides with
dispatch against orders from customers in accordance with the contract terms.

Sales are stated inclusive of excise duty and net of rebates, trade discounts, sales tax and sales returns.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.

d) Current and non-current classification

All assets and liabilities are classified into current and non-current
Assets

An asset is classified as current when it satisfies any of the following criteria:-

a. It is expected to be realized in, oris intended for sale or consumption in, the company's normal operating cycle.

b. It is held for the purpose of being traded.

c. It is expected to be realized within 12 months after the reporting period.

d. It is cash or cash equivalents unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting date.

Current assets include the current portion of non-financial assets.

All other assets are classified as non-current

Liabilities

A liability is classified as current when it satisfies any of the following criteria:-

a. It is expected to be settled in the company's normal operating cycle.

b. It is held primarily for the purpose of being traded.

c. It is due to be settled within 12 months from the reporting period

d. The company does not have an unconditional right to defer settlement of liability at least 12 months after the reporting date. I ei ms of the liability
that could at the option of the counterparty, result in its settlement by the issue of equity instruments do not atfect its classification.

Current liabilities include the current portion of non-financial liabilities.

Ail other liabilities are classified as non-current.

Operating cycle

Operating cycle is the time between the acquisition of assets for processing and their realisation in cash or cash equivalents.

e) Fixed assets and depreciation

Fixed assets are stated at cost of acquisition less accumulated depreciation and / or less accumulated impairment loss, if any. Cost of acquisition is
inclusive of freight, duties, levies and all other incidental expenditure attributable to bring the assets to its working conditions for their intended use.
Depreciation is provided on straight line method at the rates which management believes is representative of useful lives of the assets prescribed
under Schedule II of the Companies Act, 2013, except for cylinders which are depreciated over a period of 1 year. Assets costing up to Rs.5,000 are
fully depreciated in the year of acquisition.

Leasehold improvements are amortised over the period of lease, or the useful lives of assets as prescribed in Schedule II to the Companies Act, 2013,
whichever is shorter.

Leasehold land is amortised on a straight line basis over the period of lease.

A fixed asset is eliminated from the financial statements on disposal or when no further benefit is expected from its use and disposal.

Losses arising from retirement or gains or losses arising from disposal of fixed assets which are carried at cost are recognised in the Statement of
Profit and Loss.

f) Inventories

Inventories which comprise raw materials, work-in-progress and finished goods are carried at the lower of cost 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.

In determining the cost, FIFO method is used. In the case of manufactured inventories and work in progress, fixed production overheads are allocated
on the basis of normal capacity of production facilities.

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.

The net realisable value of work-in-progress is determined with reference to the selling prices of related finished products. Raw materials and other
supplies held for use in the production of finished products are not written down below cost except in cases where material prices have declined and
it is estimated that the cost of the finished products will exceed their net realisable value.

The comparison of cost and net realisable value is made on an item-by-item basis.

g) Foreign currency transactions

Foreign currency transactions are recorded at the rate of exchange prevailing on the date of the respective transactions. Monetary foreign currency
assets and liabilities remaining unsettled at the balance sheet date are translated at the rates of exchange prevailing on that date. Gains / losses
arising on account of realization / settlement of foreign exchange transactions and on translation of foreign currency assets and liabilities are
recognised in the Statement of Profit and Loss.

The Company enters into forward exchange contracts to hedge certain foreign currency denominated assets and liabilities. In respect of forward
contracts, which are covered under Accounting Standard (AS) 11, 'Effect of Changes in Foreign Exchange Rates', the difference between spot rate and
forward rate on the date the forward exchange contract is entered into, is amortised over the tenure of the contract. The foreign currency receivable
or payable arising under the forward contract is revalued using the closing rate, and any resultant gain or loss is taken to the Statement of Profit and
Loss. In respect of forward contracts to hedge its foreign currency risk exposures relating to highly probable transactions, at the balance sheet date,
such forward contracts are mark to market, keeping in view the principle of prudence as enunciated by Accounting Standard 1 "Disclosure of
Accounting Policies". A provision (with a corresponding debit to the Statement of profit and loss) is recognised for the overall loss on the portfolio of
open forward contracts; however, if there is an overall profit, it is ignored

h) Employee benefits
Short-term employee benefits

Employee benefits payable wholly within twelve months of receiving employee services are classified as short-term employee benefits. These
benefits include salaries and wages, bonus and ex-gratia. The undiscounted amount of short-term employee benefits to be paid in exchange for
employee services is recognised as an expense as the related service is rendered by employees.

Post employment benefit

Defined contribution plan

A defined contribution plan is a post-employment benefit plan under which an entity pays specified contributions to a separate entity and has no
obligation to pay any further amounts. The Company makes specified monthly contributions towards employee provident fund to Government
administered provident fund scheme which is a defined contribution plan. The Company's contribution is recognised as an expense in the Statement
of Profit and Loss during the period in which the employee renders the related service.

Defined Benefit Plan

The Company's gratuity benefit scheme is the defined benefit plan. The Company's net obligation in respect of a defined benefit plan is calculated by
estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is
discounted to determine its present value. Any unrecognised past service costs and the fair value of any plan assets are deducted. The calculation of
the Company's obligation under plan is performed annually by a qualified actuary using the projected unit credit method.

The Company recognises ail actuarial gains and losses arising from defined benefit plans immediately in the Statement of Profit and Loss. All expenses
related to defined benefit plans are recognised in employee benefits expense in the Statement of Profit and Loss. When the benefits of a plan are
improved, the portion of the increased benefit related to past service by employees

is recognised in Statement of Profit and Loss on a straight-line basis over the average period until the benefits become vested. The Company
recognises gains and losses on the curtailment or settlement of a defined benefit plan when the curtailment or settlement occurs.

i) Taxation

Income-tax expense comprises current tax (i.e. the amount of tax for the year determined in accordance with the Income-tax Act, 1961) and deferred
tax charge or credit (reflecting the tax effects of timing differences between the accounting income and taxable income for the year). The deferred tax
charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates that have been enacted or substantively
enacted as of the balance sheet date. Deferred taxassets are recognised only to the extent there is reasonable certainty of realization. However, where
there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognised only if there is virtual certainty of
realisation of such assets. Deferred tax assets are reviewed at each balance sheet date and written down or written up to reflect the amount that is
reasonably/virtually certain (as the case may be) to be realised.

Deferred tax assets or liabilities arising due to timing differences, originating during the tax holiday period and reversing after the tax holiday period
are recognised in the period in which the timing difference originate.

Minimum Alternative Tax ('MAT') under the provisions of the Income-tax Act, 1961 is recognised 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 convincing 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.

j) Operating leases

Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased term areclassified as operating leases.
Operating lease charges are recognised as an expense in the Statement of Profit and Loss on a straight-line basis over the lease term, considering the
renewal terms, if appropriate.

k) Borrowing costs

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets to the
extent that they relate to the period till such assets are ready to be put to use. A qualifying asset is one that necessarily takes substantial period of
time to get ready for its intended use. All other borrowing costs are charged to Statement of profit and loss.

l) Earnings per share

The Company reports basic and diluted earnings / (loss) per equity share in accordance with Accounting Standard 20, Earnings per Share. The basic
and dilutive earnings / (loss) per share is computed by dividing the net profit / (loss) attributable to equity shareholders for the period / year by the
weighted average number of equities shares outstanding during the period / year. Dilutive earnings per share is computed and disclosed after
adjusting the effects of all dilutive potential equity shares, if any, except when the results will be anti-dilutive.

m) Impairment of assets

The carrying amounts of assets are reviewed at each reporting date to determine whether there is any indication of impairment If any such
indication exists, the recoverable amount of the asset is estimated. For assets that are not ready for use, the recoverable amount is estimated at each
reporting date. An impairment loss is recognised in Statement of Profit and Loss whenever the carrying amount of an asset or its cash generating unit
exceeds its recoverable amount An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable
amount. An impairment loss is recorded only to the extent that the carrying amount of the assets does not exceed the carrying amount that would
have been determined net of depreciation or amortization, if no impairment loss had been recognised.