A. Basis of preparation(i) Compliance with Ind AS

These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter
referred to as the 'Ind AS') as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies
Act, 2013 ('Act') read with of the Companies (Indian Accounting Standards) Rules, 2015 as amended and other
relevant provisions of the Act.

(ii) Historical cost convention

The financial statements have been prepared on a historical cost basis, except for the following:

1) certain financial assets and liabilities that are measured at fair value;

2) defined benefit plans - plan assets measured at fair value;

(iii) Current non-current classification

All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle
(twelve months) and other criteria set out in the Schedule III to the Act.

(iv) Adoption of Ind AS 116- Leases

The Company has adopted Ind AS 116 with the date of initial application of April 01,2019 .

The Company also elected to use the recognition exemptions for lease contracts that, have a lease term of 12
months or less and do not contain a purchase option (short-term leases), and lease contracts for which the
underlying asset is of low value (low-value assets). It has no impact on operating results of company, assets and
liabilities due to nature of lease contract for short term.

B. Use of estimates and judgments

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount
of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses
during the reporting period. Difference between the actual results and estimates are recognized in the period in which
the results are known/materialized.

C. Property, plant and equipment

The Company has applied for the onetime transition exemption of considering the carrying cost on the transition date
i.e. April 1,2016 as the deemed cost under IND AS. Hence, regarded thereafter as historical cost. Freehold land is carried
at cost. All other items of property, plant and equipment are stated at cost less depreciation and impairment, if any.
Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Depreciation:

a) Depreciation is provided as per the straight line method based on useful life of the assets as prescribed in

Schedule II to the Companies Act, 2013 except as mentioned below

i) Plant & Machinery : useful life 10 years

ii) Premium on leasehold land is amortized over the residual period of the lease and proportionate amount of
premium written off is being charged to Statement of Profit & Loss.

Intangible Assets:

Intangible Assets representing Computer Software is amortized using Straight Line method over a period of five years.
Asset Impairment:

The Company reviews the carrying values of tangible assets for any possible impairment at each balance sheet date.
Impairment loss, if any, is recognized in the year in which impairment takes place.

D. Investments and other financial assets(i) Classification

The Company classifies its financial assets in the following measurement categories:

1) those to be measured subsequently at fair value (either through other comprehensive income, or through the
Statement of Profit and Loss), and 2) those measured at amortized cost.

The classification depends on the Company's business model for managing the financial assets and the
contractual terms of the cash flows.

E. Valuation of Inventories

Inventories are valued at lower of the cost and net realizable value.

F. Revenue recognition

Revenue is measured at the value of the consideration received or receivable. Amounts disclosed as revenue are net of
returns, trade allowances, rebates, discounts, loyalty discount, value added taxes & Goods & services Tax and gain/ loss
on corresponding hedge contracts. The Company recognizes revenue when the amount of revenue can be reliably
measured, it is probable that future economic benefits will flow to the Company and specific criteria have been met for
each of the Company's activities as described below.

Sale of goods

Sales are recognized when substantial risk and rewards of ownership are transferred to customer, in case of domestic
customer, generally sales take place when goods are dispatched or delivery is handed over to transporter, in case of
export customers, generally sales take place when goods are shipped onboard.

Revenue from services

Revenue from services is recognized in the accounting period in which the ser vices are rendered.

Other operating revenue - Export incentives

Export Incentives under various schemes are accounted in the year of export & included in sales.

G. Government grants and subsidies:

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached
conditions will be complied with. When the government grant related to an asset, it is presented by deducting the grant

in arriving at the carrying amount of the asset. Grants related to income are government grants other than those related
to assets.

H. Foreign Exchange Transaction:

i) Transactions in foreign currencies are accounted for at prevailing exchange rates, Gains and losses arising out of
subsequent fluctuations are accounted for on actual payment / realizations in the statement of profit and loss.

ii) Monetary items denominated in foreign currencies at the year end are restated at year end rates. Any income or
expense on account of exchange difference either on settlement or on translation is recognized in the Statement
of Profit and loss.

I. Borrowing Costs:

Borrowing costs are interest and other costs (including exchange differences relating to foreign currency borrowings to
the extent that they are regarded as an adjustment to the interest costs) incurred in connection with the borrowing of
funds.

Borrowing costs that are directly attributable to the acquisition / constructions of a qualifying asset are capitalised as
part of the cost of such assets, up to the date, the assets are ready for their intended use. Other Borrowing costs are
recognised as an expense in the period in which they are incurred.

J. Tax Expense:

The tax expense for the period comprises current and deferred tax. Tax is recognized in Statement of Profit and Loss,
except to the extent that it relates to items recognized in the comprehensive income or in equity. In which case, the tax is
also recognized in other comprehensive income or equity.

Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the
financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities
and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the
asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the
reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting
period.

K. Leases:

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys
the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee The Company applies a single recognition and measurement approach for all leases, except for
short-term leases and leases of low-value assets. The Company recognises lease liabilities to make lease payments and
right-of-use assets representing the right to use the underlying assets.

i) Right of use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset
is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment
losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets includes the amount of

lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date
less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the
lease term and the estimated useful lives of the assets.

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments are fixed payments. In calculating the present value of
lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest
rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is
increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount
of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments
(e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or
a change in the assessment of an option to purchase the underlying asset. The Company has no lease liabilities presently
due to nature lease contract for short term.

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases. Lease payments on short¬
term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.

iv) Company as a 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.