2 Significant Accounting Policies
This note provides a list of the significant accounting policies adopted in the preparation of these financial statements. These policies have
been consistently applied to all the years presented, unless otherwise stated.
(A) Basis Of Preparation Of Financial Statement
i) Compliance with Ind AS
The financial statements Complies in all material aspects with Indian Accounting Standards (Ind AS) notified by Ministry of
Corporate Affairs under the Companies (Indian Accounting Standards) Rules, 2015 as amended and notified under Section
133 of the Companies Act, 2013 (the “Act”) and other relevant provisions of the Act and other accounting principles generally
accepted in India.
The financial statements were authorized for issue by the Company's Board of Directors on 27th May, 2025.
These financial statements and notes have been presented in Indian Rupees (INR), which is also the functional currency. All the
amounts have been rounded off to the nearest lacs as per requirement of Schedule III, unless otherwise indicated.
ii) Historical cost convention
The Company follows the mercantile system of accounting and recognizes income and expenditure on an accrual basis. The
financial statements are prepared under the historical cost convention, except for the following :
(a) Certain financial assets and liabilities (Including Derivative Instruments) that are measured at fair value;
(b) Defined benefit plans where plan assets are measured at fair value.
iii) Current and Non Current Classification.
All assets and liabilities have been classified as current or non-current as per the Company's operating cycle (Twelve Months)
and other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of products and the time between
the 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 - non-current classification of assets and liabilities.
(B) Use of estimates and judgements
The preparation of financial statements requires management to make judgments, estimates and assumptions in the application of
accounting policies that affect the reported amounts of assets, liabilities, income and expenses. Continuous evaluation is done on the
estimation and judgments based on historical experience and various other assumptions and factors, including expectations of future
events that are believed to be reasonable under existing circumtances. Difference between actual results and estimate related to
accounting estimates are recognised prospectively.
The said estimates are based on facts and events, that existes as at reporting date, or that occurred after that date but provide
additional evidence about conditions existing as at the reporting date.
(C) Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity.
(I) Financial Assets
(i) Classification
The Company classifies its financial assets in the following measurement categories:
(a) Those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss);
and
(b) Those measured at amortised cost.
The classification depends on the entity's business model for managing the financial assets and the contractual terms of the
cash flows.
(a) For assets measured at fair value, gains and losses will either be recorded in Profit and Loss or Other comprehensive
income.
(b) For investments in debt instruments, this will depend on the business model in which the investment is held.
(c) For investments in equity instruments, this will depend on whether the Company has made an irrevocable election at the
time of initial recognition to account for the equity investment at fair value through other comprehensive income.
The Company reclassifies debt investments when and only when its business model for managing those assets changes.
(ii) Measurement
At initial recognition, the Company measures a financial asset at its fair value plus transaction costs that are directly attributable
to the acquisition of the financial asset and in the case of a financial asset not at fair value then through Profit and Loss,.
Transaction costs of financial assets carried at fair value through Profit and Loss are expensed in Profit and Loss.
(a) Debt instruments
Subsequent measurement of debt instruments depends on the Company's business model for managing the asset and
the cash flow characteristics of the asset. There are three measurement categories into which the Company classifies its
debt instruments:
i) Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent
solely payments of principal and interest are measured at amortised cost. A gain or loss on a debt investment that
is subsequently measured at amortised cost and is not part of a hedging relationship is recognised in profit and loss
when the asset is derecognised or impaired. Interest income from these financial assets is included in other income
using the effective interest rate method.
ii) Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash
flows and for selling the financial assets, where the assets' cash flows represent solely payments of principal and
interest, are measured at fair value through other comprehensive income (FVOCI). Movements in the carrying
amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign
exchange gains and losses which are recognised in Profit and Loss. When the financial asset is derecognised, the
cumulative gain or loss previously recognised in OCI is reclassified from equity to profit or loss and recognised in
other income or other expenses (as applicable). Interest income from these financial assets is included in other
income using the effective interest rate method.
iii) Fair value through profit or loss (FVTPL): Assets that do not meet the criteria for amortised cost or FVOCI are
measured at fair value through Profit and Loss. A gain or loss on a debt investment that is subsequently measured
at fair value through Profit and Loss and is not part of a hedging relationship is recognised in Profit and Loss and
presented net in the statement of Profit and Loss within other income or other expenses (as applicable) in the
period in which it arises. Interest income from these financial assets is included in other income or other expenses,
as applicable.
(b) Equity instruments
The Company subsequently measures all equity investments at fair value. Where the Company's management has
selected to present fair value gains and losses on equity investments in other comprehensive income and there is no
subsequent reclassification, on sale or otherwise, of fair value gains and losses to the Statement of Profit and Loss.
Dividends from such investments are recognised in Profit and Loss as other income when the Company's right to receive
payments is established.
Changes in the fair value of financial assets at fair value through Profit and Loss are recognised in other income or other
expenses, as applicable in the statement of profit and loss. Impairment losses (and reversal of impairment losses) on
equity investments measured at FVOCI are not reported separately from other changes in fair value.
(iii) Impairment of financial assets
“The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost and
FVOCI debt instruments. The impairmentmethodology applied depends on whether there has been a significant increasein creditrisk.
For trade receivables only, the Company applies the simplified approach permitted by Ind AS 109 Financial Instruments, which
requires expected lifetime credit losses (ECL) to be recognised from initial recognition of the receivables. The Company uses
historical default rates to determine impairment loss on the portfolio of trade receivables. At every reporting date these historical
default rates are reviewed and changes in the forward looking estimates are analysed.”
For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant increase in credit
risk. If there is significant increase in credit risk full lifetime ECL is used.
(iv) Derecognition of financial assets
A financial asset is derecognised only when -
(a) The Company has transferred the rights to receive cash flows from the financial asset or
(b) Retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay
the cash flows to one or more recipients.
Where the entity has transferred an asset, the Company evaluates whether it has transferred substantially all risks and rewards
of ownership of the financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred
substantially all risks and rewards of ownership of the financial asset, the financial asset is not derecognised.
Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the
financial asset, the financial asset is derecognised if the Company has not retained control of the financial asset. Where the
Company retains control of the financial asset, the asset is continued to be recognised to the extent of continuing involvement
in the financial asset.
(II) Financial Liabilities
(i) Measurement
Financial liabilities are initially recognised at fair value, reduced by transaction costs (in case of financial liability not at fair value
through Profit and Loss), that are directly attributable to the issue of financial liability. After initial recognition, financial liabilities
are measured at amortised cost using effective interest method. The effective interest rate is the rate that exactly discounts
estimated future cash outflow (including all fees paid, transaction cost, and other premiums or discounts) through the expected
life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. At the time
of initial recognition, there is no financial liability irrevocably designated as measured at fair value through profit or loss.
(ii) Derecognition
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability
are substantially modified, such an exchange or modification is treated as the de-recognition of the original liability and the
recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of Profit and Loss.
(D) Financial guarantee contracts
Financial guarantee contracts are recognised as a financial liability at the time the guarantee is issued. The liability is initially measured
at fair value and subsequently at the higher of the amount determined in accordance with Ind AS 37 Provisions, Contingent Liabilities
and Contingent Assets and the amount initially recognised less cumulative amortization, where appropriate.
(E) Segment Report
(i) The company identifies primary segment based on the dominant source, nature of risks and returns and the internal organisaiton
and mangagement structure. The operating segement are the segments for which separate financial information is available
and for which operating profit/loss amounts are evaluated regularly by the executive Management in deciding how to allocate
resources and in assessing performance.
(ii) The analysis of geographical segments is based on the areas in which major operating divisions of the Company operate.
(F) Inventories Valuation
(i) Raw materials (excluding Dyes and Chemicals), Components, Stores and Spares, Packing Materials are valued at lower of cost
and net realisable value. Cost is determined on a weighted average cost basis.
(ii) Cost of Dyes and Chemicals included in the cost of Raw Material are determined on first-in-first-out (FIFO) basis.
(iii) Work-in-Progress and Finished Goods are valued at lower of cost and net realisable value. The cost are determined on estimated
cost basis and valued on a weighted average basis.
(iv) Traded goods are valued at lower of cost and net realisable value. Cost includes cost of purchase and other costs incurred in
bringing the inventories to their present location and condition. Cost is determined on a weighted average basis.
(v) Scrap is valued at net realisable value.
(vi) Due allowances are made in respect of slow moving, non-moving and obsolete inventories based on estimate made by the
Management.
(vii) Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and
estimated costs necessary to make the sale.
(G) Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits with banks, deposit held at call with financial institutions, other short term
highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and
which are subject to an insignificant risk of changes in value.
For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes outstanding bank overdraft
shown within current liabilities in statement of financial balance sheet and which are considered as integral part of company's cash
management policy.
(H) Income tax and Deferred tax
The Income tax expense or credit for the year is the tax payable on the current year's taxable income based on the applicable income
tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.
Current and deferred tax is recognised in the Profit and Loss except to the extent it relates to items recognised directly in equity or
other comprehensive income, in which case it is recognised in equity or other comprehensive income respectively.
(i) Current income tax
Current tax charge is based on taxable profit for the year. The tax rates and tax laws used to compute the amount are those
that are enacted or substantively enacted, at the reporting date where the Company operates and generates taxable income.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation
is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax
authorities.
Current tax assets and tax liabilities are offset when there is a legally enforceable right to set off current tax assets against current
tax liabilities and Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
(ii) Deferred tax
Deferred tax is provided using the liability method on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the financial statements at the reporting date. Deferred tax assets are recognised to the
extent that it is probable that future taxable income will be available against which the deductible temporary differences, unused
tax losses, depreciation carry-forwards and unused tax credits could be utilised.
Deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a
business combination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss).
Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the period when the asset
is realised or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted by the
balance sheet date.
The carrying amount of deferred tax assets is reviewed at each reporting date and adjusted to reflect changes in probability that
sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred income tax assets and liabilities are off-set against each other and the resultant net amount is presented in the Balance
Sheet, if and only when, (a) the Company has a legally enforceable right to set-off the current income tax assets and liabilities,
and (b) the deferred income tax assets and liabilities relate to income tax levied by the same taxation authority.
(I) Property, plant and equipment
(i) Freehold land is carried at historical cost including expenditure that is directly attributable to the acquisition of the land.
(ii) All other items of property, plant and equipment are stated at cost less accumulated depreciation. Cost includes expenditure that
is directly attributable to the acquisition of the items.
(iii) 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. The carrying amount of any component accounted for as a separate asset is derecognised when replaced.
All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.
(iv) Cost of Capital Work in Progress (‘CWIP') comprises amount paid towards acquisition of property, plant and equipment
outstanding as of each balance sheet date and construction expenditures, other expenditures necessary for the purpose of
preparing the CWIP for it intended use and borrowing cost incurred before the qualifying asset is ready for intended use. CWIP
is not depreciated until such time as the relevant asset is completed and ready for its intended use.
(v) Depreciation methods, estimated useful lives and residual value
(a) Fixed assets are stated at cost less accumulated depreciation.
(b) Depreciation is provided on a pro rata basis on the written down value method over the estimated useful lives of the
assets which is as prescribed under Schedule II to the Companies Act, 2013. The depreciation charge for each period is
recognised in the Statement of Profit and Loss, unless it is included in the carrying amount of any other asset. The useful
life, residual value and the depreciation method are reviewed atleast at each financial year end. If the expectations differ
from previous estimates, the changes are accounted for prospectively as a change in accounting estimate.
(vi) Tangible assets which are not ready for their intended use on reporting date are carried as capital work-in-progress.
(vii) The residual values are not more than 5% of the original cost of the asset.
An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than
its estimated recoverable amount.
Estimated useful lives, residual values and depreciation methods are reviewed annually, taking into account commercial and
technological obsolescence as well as normal wear and tear and adjusted prospectively, if appropriate.
Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss
within other expenses or other income as applicable.”
(J) Investment Property
Property that is held for long-term rental yields or for capital appreciation or both and which is not occupied by the Company, is classified
by Investing property. Investment property is measured at cost including related transaction cost and where applicable borrowing cost.
Investment properties are depreciated at the same rate applicable for class of asset under Property,Plant and Equipment.
(K) Intangible assets
(i) An intangible asset shall be recognised if, and only if: (a) it is probable that the expected future economic benefits that are
attributable to the asset will flow to the Company and (b) the cost of the asset can be measured reliably.
(ii) Computer software is capitalised where it is expected to provide future enduring economic benefits. Capitalisation costs include
licence fees and costs of implementation / system integration services. The costs are capitalised in the year in which the relevant
software is implemented / ready for use. The same is amortised over a period of 5 years on straight-line method.
(L) Leases
(i) As a lessee
Leases in which a significant portion of the risks and rewards of ownership are not transferred to the company as lessee are
classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are
charged to profit or loss on a straight-line basis over the period of the lease unless the payments are structured to increase in
line with expected general inflation to compensate for the lessor's expected inflationary cost increases.
(ii) As a lessor
Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the
lease term unless the receipts are structured to increase in line with expected general inflation to compensate for the expected
inflationary cost increases. The respective leased assets are included in the balance sheet based on their nature.
(M) Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Amounts disclosed as revenue are inclusive of
excise duty and net of returns, trade discount, rebates. The Company recognises revenue as under :
Effective 01 April, 2018, the Company has adopted Indian Accounting Standard 115 (IND AS 115) - “Revenue from contracts with
customers” using the cumulative catch-up transition method applied to the contract that was not completed as on the transaction date
01st April, 2018. Accordingly the comparative amounts of revenue and the corresponding contract assets / liabililities have not been
retrospectively adjusted. The effect on adoption of IND-AS 115 was insignificant.
(I) Sales
(i) The Company recognizes revenue from sale of goods & services when:
(a) The significant risks and rewards of ownership in the goods are transferred to the buyer as per the terms of the
contract, which coincides with the delivery of goods and with regard to services, when services are rendered.
(b) The Company retains neither continuing managerial involvement to the degree usually associated with the
ownership nor effective control over the goods sold.
(c) The amount of revenue can be reliably measured.
(d) It is probable that future economic benefits associated with the transaction will flow to the Company.
(e) The cost incurred or to be incurred in respect of the transaction can be measured reliably.
(f) The company bases its estimates on historical results, taking into consideration the type of customer, the type of
transaction and the specifics of each arrangement.
(II) Other Income
(i) Interest Income
Interest income from debt instruments is recognised using the effective interest rate method. The effective interest rate is
the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the gross
carrying amount of a financial asset. When calculating the effective interest rate, the group estimates the expected cash
flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
similar options) but does not consider the expected credit losses.
(ii) Dividends
Dividends are recognised in profit or loss only when the right to receive payment is established, it is probable that the
economic benefits associated with the dividend will flow to the group, and the amount of the dividend can be measured
reliably.
(iii) Export Benefits
Export incentives are accounted for on export of goods if the entitlements can be estimated with reasonable accuracy and
conditions precedent to claim are fulfilled.
(III) Derivatives and hedging activities
The Company uses foreign currency forward contracts to hedge it's risks associated with foreign currency fluctuations relating
to certain firm commitments and forecasted transactions. Such forward contracts are utilised against the inflow of funds under
firm commitments. The Company does not use the forward contract for speculative purposes. The Company designates these
hedging instruments as cash flow hedge. The use of hedging instruments is governed by the Company's policies approved by
the Board of Directors, which provide written principles on the use of such financial derivatives consistent with the Company's
risk management strategy.
“Hedging instruments are initially measured at fair value and are remeasured at subsequent reporting dates. Changes in the fair
value of these derivatives that are designated and effective as hedges of future cash flows are recognised directly in OCI and
the ineffective portion is recognised immediately in the Statement of Profit and Loss.
Changes in the fair value of derivative financial instruments that do not qualify for hedge accounting are recognised in the
Statement of Profit and Loss as they arise.”
The fair value of derivative financial instruments is determined based on observable market inputs including currency spot and
forward rates, yield curves, currency volatility etc.
Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or exercised or no longer qualifies
for hedge accounting. At that time for forecasted transactions, any cumulative gain or loss on the hedging instrument recognised
in OCI is retained until the forecasted transaction occurs. If a hedged transaction is no longer expected to occur, the net
cumulative gain or loss recognised in Shareholders' Funds is transferred to the Statement of Profit and Loss for the year.
(N) Employee Benefit
(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. The
liabilities are presented as current employee benefit obligations in the balance sheet.
(ii) Other long-term employee benefit obligations
The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of the period in which the
employees render the related service. They are therefore measured as the present value of expected future payments to be
made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method.
The benefits are discounted using the appropriate market yields at the end of the reporting period that have terms approximating
to the terms of the related obligation. Remeasurements as a result of experience adjustments are recognised in Profit and Loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer
settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
(iii) Post-employment obligations
The Company operates the following post-employment schemes:
(a) Defined benefit gratuity plan:
Gratuity, which is defined benefit, is accrued based on actuarial valuation working provided by Life Insurance Corporation
of India ( LIC) . The Company has opted for a Group Gratuity-cum-Life Assurance Scheme of the Life Insurance
Corporation of India (LIC), and the contribution is charged to the Statement of Profit & Loss each year. The Company
has funded the liability on account of leave benefits through LIC's Group Leave Encashment Assurance Scheme and the
Contribution is charged to Statement of Profit and Loss.
The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plans is the present value of
the defined benefit obligation at the end of the reporting period less the fair value of plan. The defined benefit obligation is
calculated annually as provided by LIC. The present value of the defined benefit obligation is determined by discounting
the estimated future cash outflows by reference to market yields at the end of the reporting period on government bonds
that have terms approximating to the terms of the related obligation. The net interest cost is calculated by applying the
discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in
employee benefit expense in the statement of profit and loss. Remeasurement gains and losses arising from experience
adjustments and changes in actuarial assumptions are recognised in the period in which they occur, directly in other
comprehensive income. They are included in retained earnings in the statement of changes in equity and in the balance
sheet.
(b) Defined Contribution plan:
Contribution payable to recognised provident fund and superannuation scheme which is defined contribution scheme is
charged to Statement of Profit & Loss. The company has no further obligation to the plan beyond its contribution.
(O) Foreign currency translation
(i) Functional and presentation currency
Items included in the financial statements of the Company are measured using the currency of the primary economic environment
in which the Company operates (‘the functional currency'). The financial statements are presented in Indian rupee (INR), which
is Company's functional and presentation currency.
(ii) Transactions and balances
Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions.
Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary
assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognised in profit or loss. All
the foreign exchange gains and losses are presented in the statement of Profit and Loss on a net basis within other expenses
or other income as applicable.
(P) Borrowing Cost
(i) Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured at
amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in
Profit and Loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan
facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be
drawn down. In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable
that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over
the period of the facility to which it relates.
(ii) Borrowings are classified as current financial liabilities unless the group has an unconditional right to defer settlement of the
liability for at least 12 months after the reporting period. Where there is a breach of a material provision of a long-term loan
arrangement on or before the end of the reporting period with the effect that the liability becomes payable on demand on the
reporting date, the entity does not classify the liability as current, if the lender agreed, after the reporting period and before the
approval of the financial statements for issue, not to demand payment as a consequence of the breach.
(Q) Earnings per share
(i) Basic earnings per share
Basic earnings per share is calculated by dividing:
- the profit attributable to owners of the Company; and
- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in
equity shares issued during the year and excluding treasury shares.
ii) Diluted earnings per share
Diluted earnings per share adjust the figures used in the determination of basic earnings per share to take into account:
- the after income tax effect of interest and other financing costs associated with dilutive potential equity shares; and
- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of
all dilutive potential equity shares.
(R) Impairment of Assets
Intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more
frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever
events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for
the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's
fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels
for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups
of assets (cash-generating units). Non-financial assets that suffered impairment are reviewed for possible reversal of the impairment
at the end of each reporting period.
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