1. Significant Accounting Policies:

The preparation of standalone financial statements is in conformity with Indian GAAP, requires the management to
make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates
are based on the management’s best knowledge of current events and actions, uncertainty about these
assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts
of assets or liabilities in future periods.

a) Basis of preparation of financial statements

The financial statements are prepared on going concern basis in accordance with Generally Accepted
Accounting Principles in India (GAAP) and comply in all material respects with the Accounting Standards
specified under section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts)
Rules, 2014, and Companies (Accounting Standards) Amendment Rules, 2016 and the relevant provisions of
the Companies Act, 2013.

b) Historical Cost Convention

The financial statements have been prepared on an accrual basis and under the historical cost convention.
The accounting policies adopted in the preparation of financial statements are consistent with those of
previous year.

c) Use of estimates

All items of PPE are stated at cost less depreciation and impairment, if any. Historical cost includes
expenditure that is directly attributable to the acquisition of the items. Cost includes its purchase price
including non-refundable taxes and duties, directly attributable costs of bringing the asset to its present
location and condition and initial estimate of costs of dismantling and removing the item and restoring the
site on which it is located.

Subsequent costs are included in the carrying amount of PPE or recognised as a separate PPE, 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. The carrying amount of any component
accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are
charged to the Statement of Profit and Loss during the reporting period in which they are incurred.

d) Depreciation

The Company depreciates its PPE over the useful life in the manner prescribed under Part C of Schedule II
to the Act. Depreciation commences when the assets are ready for their intended use and is computed on
pro-rata basis from the date of installation/ acquisition till the date of sale/ disposal. Management believes
that useful life of assets are same as those prescribed in Schedule II to the Act.

e) Inventories

Inventories are valued at lower of cost or estimated net realisable value. Cost is determined using the FIFO
method.

f) 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, regardless of when the payment is being made. Revenue is
measured at the fair value of the consideration received or receivable net of discounts, returns and rebates
taking into account contractually defined terms and excluding taxes or duties collected on behalf of the
government.

i) Sales are recognised when substantial risk and rewards of ownership are transferred to customer as
per the terms of contract. No revenue is recognised if there are significant uncertainties regarding
recovery of the amount due, associated costs or the possible return of goods

ii) Interest income is accrued on a time proportion basis, by reference to the principal outstanding and the
applicable effective interest rate.

iii) Dividend income from investments is recognised when the shareholder’s rights to receive payment
have been established.

iv) Income from Service rendered is recognised based on the terms of the agreements as and when
services are rendered and are net of Goods and Service Tax (GST)/Service Tax.

g) Investments

Investments which are readily realisable and intended to be held for not more than one year from the date
on which such investments are made are classified as current investments. All other investments are
classified as long-term investments. And Current investments are stated at lower of cost and fair market
value determined on an individual investment basis. Long-term investments are stated at cost less
provision for diminution other than temporary in the value of such investments.

h) Borrowing costs

Borrowing costs are interest and other costs that the Company incurs in connection with the borrowing of
funds and is measured with reference to the effective interest rate applicable to the respective borrowing.

General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalized during the period of time that is required to complete and

prepare the asset for its intended use. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use. Other borrowing costs are expensed in the period in
which they are incurred.

i) Employee benefits

Provision for employee benefits including gratuity in respect of employees is accounted for on the basis of
liability estimated by the management.

(i) Short-term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly
within 12 months after the end of the period in which the employees render the related service are
recognised in respect of employees’ services up to the end of the reporting period and are measured at the
amounts expected to be paid when the liabilities are settled.

(ii) Post-employment Obligations

The Company operates the following post-employment scheme:

(a) Defined benefit plan (Gratuity): The liability or asset recognised in the Balance Sheet in respect of
defined benefit gratuity plan is the present value of the defined benefit obligation at the end of the reporting
period. The defined benefit obligation is calculated annually by Actuarial Value

j) Accounting for taxes on income

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year as per
the provisions of the Income Tax Act, 1961.

ii) Deferred tax is recognized, subject to consideration of prudence, on timing difference, being the
difference between taxable incomes and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods and measured using relevant enacted tax rates.

k) Operating lease

A. Where Co is lessee

Lease of assets under which all the risk and rewards of ownership are effectively retained by the lessor
are classified as operating leases. Lease payments under operating leases are recognized as an expense
on accrual basis in accordance with the respective lease agreements.

B. Where Co is lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an
asset are classified as operating leases. Rental income from operating lease is recognised on a straight
line basis over the term of the relevant lease.

l) Foreign currency transactions

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction
dates. Realised gains and losses on settlement of foreign currency transactions are recognised in the
Statement of Profit and Loss.

Monetary foreign currency assets and liabilities at the year-end are translated at the year-end exchange
rates and the resultant exchange differences are recognised in the Statement of Profit and Loss.

m) Earnings per share

Basic earnings per share are computed by dividing the profit / (loss) after tax by the weighted average
number of equity shares outstanding during the year. The weighted average number of equity shares
outstanding during the year is adjusted for the events for bonus issue, bonus element in a rights issue to
existing shareholders, share split and reverse share split (consolidation of shares). Diluted earnings per
share is computed by dividing the profit / (loss) after tax as adjusted for dividend, interest and other
charges to expense or income (net off any attributable taxes) relating to the dilutive potential equity shares,
by the weighted average number of equity shares considered for deriving basic earnings per share and the
weighted average number of equity shares which could have been issued on conversion of all dilutive
potential equity shares.