| I (b) Significant Accounting Policies1    Basis of PreparationThe Financial Statements have beenprepared in accordance with Indian
 Generally Accepted Accounting
 Principles (IGAAP) under historical
 cost convention on the accrual
 basis. GAAP comprises mandatory
 accounting standards prescribed
 by the Companies (Accounting
 Standards) Rules, 2021.
 2    Revenue RecognitionRevenue is recognized only when risksand rewards incidental to ownership
 are transferred to the customer,
 it can be reliably measured and it
 is reasonable to expect ultimate
 collection. Revenue from operations
 includes sale of goods, services, service
 tax, excise duty, and sales during trail
 run period, adjusted for discounts
 (net), and gain/loss on correspondinghedge contracts.
 The following other revenues arerecognized and accounted on their
 accrual with necessary provisions for
 all known liabilities and losses as per
 AS 9.
 Interest Income : Revenue isrecognized on the time proportion
 basis after taking into account the
 amount outstanding and the rate
 applicable.
 Other Income : Other items of incomeand expenditure are recognized on
 accrual basis and as a going concern
 basis, and the accounting policies
 are consistent with the generally
 accepted accounting policies.
 Export benefits are recognised onpost shipment basis under prevalent
 schemes under exim/foreign trade
 policies
 3 Property Plant and EquipmentIncluding Intangible Assets
Property Plant and Equipment'sare stated at cost, less accumulated
 depreciation. Cost includes cost of
 acquisition including material cost,
 freight, installation cost, duties and
 taxes, and other incidental expenses,
 incurred up to the installation stage,
 related to such acquisition. Property
 Plant and Equipment's purchased in
 India in foreign currency are recorded
 in Rupees, converted at the exchange
 rate prevailed on the date of purchase.
 Intangible assets that are acquired by
 the Company are measured initially
 at cost. After initial recognition, an
 intangible asset is carried at its costless any accumulated amortisation
 and any accumulated impairment
 loss. Subsequent expenditure if any,
 is capitalized if it increases the future
 economic benefits.
 4    Depreciation & AmortisationThe Company has applied theestimated useful lives as specified
 in Schedule II of the Companies Act
 2013 and calculated the depreciation
 as per the Straight Line Value (SLV)
 method. Depreciation on new assets
 acquired during the year is provided
 at the rates applicable from the
 date of acquisition to the end of the
 financial year. In respect of the assets
 sold during the year, depreciation
 is provided from the beginning of
 the year till the date of its disposal.
 Leasehold land is amortized over the
 Lease period of the asset.
 5    Impairment of AssetsThe Management periodicallyassesses using, external and internal
 sources, whether there is an indication
 that an asset may be impaired.
 An impairment loss is recognised
 wherever the carrying value of an
 asset exceeds its recoverable amount.
 The recoverable amount is higher of
 the asset's net selling price and value
 in use, which means the present value
 of future cash flows expected to arise
 from the continuing use of the asset
 and its eventual disposal. Reversal
 of impairment loss is recognised
 immediately as income in the profit
 and loss account.
 6    Use of EstimatesThe preparation of the financialstatements in conformity with
 Generally Accepted Accounting
 Principles requires the Management
 to make estimates and assumptions
 that affect the reported balances of
 assets and liabilities and disclosures
 relating to contingent assets and
 liabilities as at the date of the financial
 statements and the reported amounts
 of income and expenses during the
 year. Examples of such estimates
 include provisions for doubtful debts,
 income taxes, post - sales customer
 support and the useful lives of
 Property Plant and Equipments and
 intangible assets.
 7    Foreign Currency Transactions:Domestic Operation
I    . Initial RecognitionA foreign currency transactions arerecorded, on initial recognition in
 the reporting currency, by applying
 to the foreign currency amount the
 exchange rate between the reporting
 currency and the foreign currency at
 the date of the transaction.
 II    . MeasurementForeign currency monetary items arereported using the closing rate.
 Non-monetary items which arecarried in terms of historical cost
 denominated in a foreign currency
 are reported using the exchange rate
 at the date of the transaction
 Non-monetary items which arecarried at fair value or other similar
 valuation denominated in a foreigncurrency are reported using the
 exchange rates that existed when the
 values were determined.
 III . Treatment of Foreign ExchangeExchange differences arisingon settlement / restatement of
 foreign currency monetary assets
 and liabilities of the Company are
 recognised as income or expenses in
 the Statement of Profit and Loss.
 8    Employee BenefitsDefined Contribution Plan
The Company provides for ESI, PFand Super annuation Plan for eligible
 employees for which the company
 makes contribution on monthly basis
 and the same is charged to profit and
 loss Account.
 Defined Benefit PlanThe Company provides for Gratuity,a Defined benefit plan (The Grauity
 Plan) covering eligible employees
 in accordance with payment of
 Gratuity Act, 1972. Gratuity liability
 is a defined benefit obligation and
 is funded through LIC of India. The
 Company accounts for liability for
 future gratuity benefits based on the
 actuarial valuation using Projected
 Unit Credit Method carried out as at
 the end of each financial year. The
 expenditure is passed to Profit and
 Loss account
 9    Taxes on IncomeIncome Tax expense is accounted forin accordance with AS-22 “Accounting
 for Taxes on Income" for both CurrentTax and Deferred Tax stated below:
 A.    Current TaxProvision for current tax is made inaccordance with the provisions of
 the Income Tax Act, 1961. As per the
 provisions applicable, MAT Assets are
 not recognised.
 B.    Deferred TaxDeferred tax is recognised, subjectto the consideration of prudence, as
 the tax effect of timing difference
 between the taxable income and
 accounting income computed for
 the current accounting year using the
 tax rates and tax laws that have been
 enacted or substantially enacted by
 the balance sheet date.
 Deferred tax assets are recognisedand carried forward to the extent that
 there is a reasonable certainty, except
 arising from unabsorbed depreciation
 and carried forward losses, that
 sufficient future taxable income
 will be available against which such
 deferred tax assets can be realised.
  
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