NOTE 2 — MATERIAL ACCOUNTING POLICY INFORMATION:a) Statement of Compliance:

These Ind AS financial statements of the Company have been prepared in accordance with the recognition and measurement
principles laid down in Indian Accounting Standards (herein referred to as ‘Ind AS’) notified under the Companies (Indian Accounting
Standards) Rules, 2015 as amended from time to time, the relevant provisions of the Companies Act, 2013 (the Act) and guidelines
issued by the Securities and Exchange Board of India (SEBI), as applicable.

b) Basis of preparation and presentation:Statement of compliance with Ind AS:

These financial statements are prepared on going concern basis in accordance with Indian Accounting Standards (Ind AS) under
the historical cost convention on accrual basis except for certain financial instruments which are measured at fair value and the
provisions of the Companies Act, 2013 (‘Act’). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the
Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

Historic cost convention:

The financial statements have been prepared on historic cost basis except for certain financial liabilities that are measured at fair
value.

Functional and Presentation Currency:

The financial statements are presented in Indian Rupees (INR), which is the functional currency of the Company. All amounts have
been rounded off to the nearest lacs. Amount below the rounded off norms have been reflected as “0” in the relevant notes.

Classification of Assets and Liabilities into Current/Non-Current:

The Company has ascertained its operating cycle as twelve months for the purpose of Current/ Non-Current classification of its
Assets and Liabilities.

For the purpose of Balance Sheet, an asset is classified as current if:

i. It is expected to be realised, or is intended to be sold or consumed, in the normal operating cycle; or

ii. It is held primarily for the purpose of trading; or

iii. It is expected to realise the asset within twelve months after the reporting period; or

iv. The asset is a cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period.

All other assets are classified as non-current.

Similarly, a liability is classified as current if:

i. It is expected to be settled in the normal operating cycle; or

ii. It is held primarily for the purpose of trading; or

iii. It is due to be settled within twelve months after the reporting period; or

iv. The Company does not have an unconditional right to defer the settlement of the liability for at least twelve months after
the reporting period. Terms of a liability that could result in its settlement by the issue of equity instruments at the option
of the counterparty does not affect this classification.

All other liabilities are classified as non-current.

c) Property, Plant and Equipment (PPE):

The initial cost of PPE comprises of its purchase price, including import duties and non-refundable purchase taxes, and any directly

attributable costs of bringing an asset to working condition and location for its intended use, including relevant borrowing costs

and any expected costs of decommissioning, less accumulated depreciation and accumulated impairment losses, if any.

Subsequent expenditure relating to PPE are capitalised only when it is probable that future economic associated with these will
flow to the Company and cost of the item can be measured reliably. Repairs and maintenance cost are charged to the Statement

of Profit and Loss in the period in which the costs are incurred.

If significant parts of an item of PPE have different useful lives, then they are accounted for as separate items (major components)
of PPE.

Material items such as spare parts, stand-by equipment and service equipment are classified as PPE when they meet the definition
of PPE as specified in Ind AS 16 - Property, Plant and Equipment.

d) Investment Property:

Investment properties are properties (land or a building-or part of a building-or both) held to earn rentals and/or for capital
appreciation (including property under construction for such purposes). Investment properties are measured initially at cost including
purchase price, borrowing costs. Subsequent to initial recognition, investment properties are measured at cost less accumulated
depreciation and impairment, if any.

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 is included in the statement of profit and loss in the period in which the
property is derecognised.

e) Depreciation:

The depreciable amount of an item of PPE is allocated on a systematic basis over its useful life. The Company provides depreciation
on the straight line method over the useful lives as prescribed under Schedule II of the Act as per technical assessment. The
Company believes that straight line method reflects the pattern in which the asset’s future economic benefits are expected to be
consumed by the Company. The residual values, useful lives and method of depreciation are reviewed at least at each financial
year-end and adjusted prospectively, if appropriate.

Depreciation on additions/ (disposals) are provided on a pro-rata basis i.e. from/ (up to) the date on which the asset is ready to
use/ (disposed off).

f) Intangible Assets and Amortization:

Intangible assets with finite useful life that are acquired separately are stated at acquisition cost less accumulated amortization
and impairment losses, if any. The Company determines the useful life as the period over which the future economic benefits will
flow to the Company after taking into account all relevant facts and circumstances. The estimated useful life and amortization method
is reviewed periodically, with the effect of any changes in estimate being accounted for on a prospective basis.

g) Impairment of Non-Financial Assets:

The Company’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment.
If any such indication exists, then the asset’s recoverable amount is estimated. An impairment loss is recognised if the carrying
amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognised in the statement of profit and
loss.

The recoverable amount is the higher of its value in use and its fair value less costs to sell. Value in use is based on the estimated
future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset.

In respect of the assets for which impairment loss has been recognised in prior periods, the Company reviews at each reporting
date whether there is any indication that the loss has decreased or no longer exists. When there is indication that an impairment
loss recognised for an asset (other than a revalued asset) in earlier accounting periods which no longer exists or may have
decreased, impairment loss is reversed to the extent the amount was previously charged to the statement of profit and loss. In
case of revalued assets, such reversal is not recognised.

h) Inventories:

Inventories comprise of stock-in-trade which are carried at the lower of cost and net realisable value. Cost is determined on moving
weighted average basis.

Cost of stock-in-trade comprises of all costs of purchase, duties, taxes (other than those subsequently recoverable from tax
authorities) and all other costs incurred in bringing the inventory to their present location and condition.

Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make
sale.

i) Borrowing Costs:

Borrowing costs are interest and other costs incurred by the Company in connection with the borrowing of funds. Borrowing costs
directly attributable to acquisition or construction of those property, plant and equipment which necessarily take a substantial period
of time to get ready for their intended use are capitalised. Other borrowing costs are recognised as an expense in the Statement
of Profit and Loss of the period in which they are incurred.