Note 1: Material Accounting Policy Information: This note provides a list of the material
accounting policies adopted in the preparation of these financial statements. These policies
have been consistently adopted to all years presented, unless otherwise stated.

(a) Basis of preparation

(i) Compliance with Ind AS: The financial statements comply in all material aspects with the
Indian Accounting Standards (Ind AS), notified under section 133 of the Companies Act, 2013
('the Act') [Companies (Indian Accounting Standards Rules, 2015)] and other relevant
provisions of the Act.

(ii) Historical cost convention: These financial statements have been prepared on the
historical cost basis, except for defined benefit plans, where the plan assets are measured at
fair value and Investments in equity instruments which also measured on a fair value basis.

(iii) Amended standards adopted by the Company: The Company has adopted the following
standards and amendments for the annual reporting period commencing 1 April 2024

- Ind AS 116, Leases (as amended)

- Amendment to Ind AS 20, Accounting for Government grants and disclosure of Government
assistance

- Uncertainty over Income-tax treatments - Appendix C to Ind AS 12, Income taxes

- Plan amendment, curtailment or settlement - Amendments to Ind AS 19, Employee benefit

- Amendment to Ind AS 103, Business Combinations and Ind AS 111, Joint Arrangements

- Amendment to Ind AS 12, Income-taxes

- Amendment to Ind AS 23, Borrowing costs

The Company had to change its accounting policies after the adoption of Ind AS 116 in the
financial year 2019-20. The other amendments listed above did not have any impact on the
amounts recognised in the prior period and are not expected to significantly affect the current
or future periods.

(b) Segment reporting: Operating segments are reported in a manner consistent with the
internal reporting provided to the Chief Operating Decision Maker. Refer Note 26 for segment
information presented.

(c) Foreign currency translation

(i) Functional and presentation currency: The functional and presentation currency of the
Company is Indian Rupee.

(ii) Transactions and balance: Foreign currency transactions are translated to functional
currency using the exchange prevailing at the dates of the transactions. Foreign exchange
gains and losses resulting from the settlement of such transactions and translation of
monetary assets and liabilities denominated at foreign currencies at year end exchange rates
are generally recognised in profit or loss. Foreign exchange differences regarded as an
adjustment to borrowing costs are presented in the statement of profit and loss, within
finance costs. All other foreign gains and losses are presented in the statement of profit and
loss on a net basis with other gains/ (losses). Non-monetary items that are measured at fair
value in foreign currency are translated using the exchange rates at the date when the fair
value was determined. Translation differences on assets and liabilities carried at fair value are
reported as part of fair value gain or loss. For example, translation differences on non¬
monetary assets and liabilities such as equity instruments held at fair value through profit or
loss are recognised in profit or loss as part of the fair value gain or loss and translation
differences on non-monetary asset such as equity instruments classified as at FVOCI are
recognised in other comprehensive income.

(d) Revenue recognition:

(i) Sale of Goods: Effective April 1, 2018, the Company has applied Ind AS 115 which
establishes a comprehensive framework for determining whether, how much and when
revenue is to be recognised. Ind AS 115 replaces Ind AS 18 Revenue and Ind AS 11 Construction
Contracts. The Company has adopted Ind AS 115 using the Full Retrospective Method. The
impact of adoption of the standard on the financial statements of the Company is insignificant.
- Revenue is recognised upon transfer of control of promised products or services to
customers in an amount that reflects the consideration which the Company expects to receive
in exchange for those products or services. - Revenue from the sale of goods is recognised at
the point in time when control is transferred to the customer which coincides with the
performance obligation under the contract with the customer. - Revenue from services is
recognized in accordance with the terms of contract when the services are rendered and the
related costs are incurred. Revenue is measured based on the transaction price, which is the
consideration, adjusted for volume discounts, service level credits, performance bonuses,
price concessions and incentives, if any, as specified in the contract with the customer.
Revenue also excludes taxes collected from customers.

(e) Government grants: Grants from the government are recognised at their fair value where
there is a reasonable assurance that the grant will be received and the Company will comply
with all attached conditions.

Government grants relating to income are deferred and recognised in the profit or loss over
the period necessary to match them with the costs that they are intended to compensate and
presented within other income.

Government grants relating to the purchase of property, plant and equipment are included in
non-current liabilities as deferred income and are credited to the profit and loss on a straight¬
line basis over the expected lives of the related assets and presented within other income.

(f) Income tax: Income tax expense or credit for the period is the tax payable on the current
period's taxable income based on the applicable income tax rate and adjusted by the changes
in deferred tax assets and liabilities attributable to temporary differences and to unused tax
losses. Current tax expense for the year is ascertained on the basis of assessable profits
computed in accordance with the provisions of the Income-tax Act, 1961. Deferred tax is
recognised 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 are generally recognised for all taxable temporary differences.
Deferred tax assets are generally recognised for all deductible temporary differences to the
extent that it is probable that taxable profits will be available against which those deductible
temporary differences can be utilised. Such deferred tax assets and liabilities are not
recognised if the temporary difference arises from the initial recognition (other than in a
business combination) of assets and liabilities in a transaction that affects neither the taxable
profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at the
end of each reporting period and reduced to the extent that it is no longer probable that
sufficient taxable profits will be available to allow all or part of the asset to be recovered.
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 realised, based on tax rates (and tax
laws) that have been enacted or substantively enacted by the end of the reporting period. The
measurement of deferred tax liabilities and assets reflects the tax consequences that would
follow from the manner in which the Company expects, at the end of the reporting period, to
recover or settle the carrying amount of its assets and liabilities.

(g) Leases: The determination of whether an arrangement is (or contains) a lease is based on
the substance of the arrangement at the inception of the lease. The arrangement is, or
contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset
or assets and the arrangement conveys a right to use the asset or assets, even if that right is
not explicitly specified in an arrangement. For arrangements entered into prior to 1 April
2016, the Company has determined whether the arrangements contain lease on the basis of
facts and circumstances existing on the date of transition. A lease is classified at the inception
date as a finance lease or an operating lease. A lease that transfers substantially all the risks
and rewards incidental to ownership to the Company is classified as a finance lease. Finance
leases are capitalised at the lease's inception at the fair value of the leased property or, if
lower, the present value of the minimum lease payments. The corresponding rental
obligations, net of finance charges, are included in borrowings or other financial liabilities as
appropriate. Each lease payment is allocated between the liability and finance cost. The
finance cost is charged to the profit or loss over the lease period so as to produce a constant
periodic rate of interest on the remaining balance of the liability for each period. Operating
Lease: Rental expense from operating leases is generally recognised on a straight-line basis

over the term of relevant lease. Where the rentals are structured solely to increase in line with
expected general inflation to compensate for the lessor's expected inflationary cost increases,
such increases are recognised in which such benefits accrue. Contingent rentals arising under
operating leases are recognised as an expense in the periods in which they are incurred. In
the event that lease incentives are received to enter into operating leases, such incentives are
recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of
rental expense on a straight-line basis, except where another systematic basis is more
representative of the time pattern in which economic benefits from the leased asset are
consumed.

(i) Impairment of assets: Goodwill and intangible assets that have indefinite useful life are not
subject to amortisation and are tested annually for impairment, or more frequently if events
or changes in circumstances indicate that they may 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 cost 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 group of
assets (cash-generating units). Non-financial assets other than goodwill that suffered an
impairment are reviewed for possible reversal of impairment at the end of each reporting
period.

(j) Cash and cash equivalents: For the purpose of presentation in the statement of cash flows,
cash and cash equivalents includes cash on hand, deposits 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, and bank overdrafts. Bank overdrafts are shown
within current liabilities in the balance sheet.

(k) Trade receivables: Trade receivables are amounts due from customers for goods sold or
services performed in the ordinary course of business. Trade receivables are recognised
initially at the amount of consideration that is unconditional unless they contain significant
financing components in which case they are recognised at fair value. The Company holds the
trade receivables with the objective to collect the contractual cash flows and therefore
measures them subsequently at amortised cost using the effective interest rate method, less
loss allowance.

(l) Inventories: Inventories represent films under production and other film rights. Films under
production represent the cumulative cost incurred till the year end. Films rights represent
value of unexploited technology rights of old Hollywood films. Films acquired during the year
are fully charged to revenue.

(m) Investments and other financial assets: Classification of financial assets on initial
recognition, a financial asset is classified to be measured at amortized cost, fair value through
other comprehensive income (FVTOCI) or Fair value through Profit & Loss ('FVTPL'). The
classification depends upon the entity's business model for managing the financial assets and
the contractual terms of the cash flows. For assets measured at fair value, gains and losses
will either be recorded in profit and loss or other comprehensive income. For investments in
equity instruments that are not held for trading, 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 FVOCI. The Company reclassifies debt investments when and only when the
business model for managing those assets changes. (i) Recognition Regular way purchases and
sales of financial assets are recognized on trade-date, the date on which the Company
commits to purchase or sale the financial asset. (ii) Measurement At initial recognition, the
Company measures a financial asset at its fair value plus, in case of a financial asset not at fair
value through profit or loss, transaction costs that are directly attributable to the acquisition
of the financial asset. Transitions cost of financial assets carried at fair value through profit or
loss are expensed in profit or loss. Financial assets with embedded derivatives are considered
in their entirety when determining whether their cash flows are solely payment of principal
and interest.

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:

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 recognized in profit or loss when the asset is derecognized or
impaired. Interest income from these financial assets is included in finance income using the
effective interest rate method.

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 revenue and foreign
exchange gains and losses which are recognized in profit and loss. When the financial asset is
derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from
equity to profit or loss and recognized in other gains/ (losses). Interest income from these
financial assets is included in other income using the effective interest rate method. Foreign
exchange gains and losses are presented in other gains and losses and impairment expenses
in other expenses.

Fair value through profit or loss: Assets that do not meet the criteria for amortised cost or
FVOCI are measured at fair value through profit or loss. A gain or loss on a debt investment
that is subsequently measured at fair value through profit or loss and is not part of a hedging
relationship is recognised in profit or loss and presented net in the statement of profit and loss
within other gains/(losses) in the period in which it arises. Interest income from these financial
assets is included in other income.

Equity instruments: The Company subsequently measures all equity investments at fair value.
Where the Company's management has elected to present fair value gains and losses on
equity investments in other comprehensive income, there is no subsequent reclassification of
fair value gains and losses to profit or loss following the derecognition of the investment.
Dividends from such investments are recognized in profit or 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 or loss are recognized in other gain/ (losses) 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 impairment methodology applied depends on whether there has been a
significant increase in credit risk. Note 25 details how the Company determines whether there
has been a significant increase in credit risk. For trade receivables only, the Company applies
the simplified approach required by Ind AS 109 Financial Instruments, which requires
expected lifetime losses to be recognized from initial recognition of the receivables.

(iv) Derecognition of financial asset: A financial asset is derecognised only when i) The
Company has transferred the rights to receive cash flows from the financial asset or ii) 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 Company
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 Company
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.

(v) Income recognition: 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

Company 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.

Dividends

Dividends are recognized 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 Company, and the amount of the dividend can be measured reliably.

(n) Offseffing financial instruments: Financial assets and liabilities are offset and the net
amount is reported in the balance sheet where there is a legally enforceable right to offset
the recognized amounts and there is an intention to settle on a net basis or realize the asset
and settle the liability simultaneously. The legally enforceable right must not be contingent on
future events and must be enforceable in the normal course of business and in the event of
default, insolvency or bankruptcy of the Company or the counterparty.

(o) Property, plant and equipment: Freehold land is carried at historical cost. All other items
of property, plant and equipment are stated at historical cost less depreciation. Historical cost
includes expenditure that is directly attributable to the acquisition of the items. Cost may also
include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign
currency purchases of property, plant and equipment. Subsequent costs are included in the
asset's carrying amount or recognized 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 derecognized when replaced. All other repairs and
maintenance are charged to profit or loss during the reporting period in which they are
incurred.

Transition to Ind AS: 'On transition to Ind AS, the Company has elected to continue with the
carrying value of all of its property, plant and equipment recognized as at 1 April 2017
measured as per the previous GAAP and use that carrying value as the deemed cost of the
property, plant and equipment.

Depreciation methods, estimated useful lives and residual value: Property, plant and
equipment are depreciated on a straight-line basis over the useful life of the assets as
prescribed under the Schedule II of the Companies Act, 2013.

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. Gains and losses on
disposals are determined by comparing proceeds with carrying amount. These are included in
profit or loss within other gains/(losses).

(p) Intangible assets: Intangible assets are recognised at acquisition cost net of accumulated
amortisation and impairment losses.

Transition to Ind AS: On transition to Ind AS, the Company has elected to continue with the
carrying value of all of intangible assets recognised as at 1 April 2017 measured as per the
previous GAAP and use that carrying value as the deemed cost of intangible assets.

(q) Trade and other payables: These amounts represent liabilities for goods and services
provided to the Company prior to the end of financial year which are unpaid. The amounts
are unsecured. Trade and other payables are presented as current liabilities unless payment
is not due within 12 months after the reporting period. They are recognised initially at their
fair value and subsequently measured at amortised cost using the effective interest method.

(r) Borrowings: 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 or
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. The fair value
of the liability portion of a mandatorily convertible bonds is determined using a market
interest rate for an equivalent non-convertible bond. This amount is recorded as a liability on
an amortised cost basis until extinguished on conversion or redemption of the bonds. The
remainder of the proceeds is attributable to the equity portion of the compound instrument.
This is recognised and included in shareholders' equity, net of income tax effects, and not
subsequently remeasured. Borrowings are removed from the balance sheet when the
obligation specified in the contract is discharged, cancelled or expired. The difference between
the carrying amount of a financial liability that has been extinguished or transferred to
another party and the consideration paid, including any non-cash assets transferred or
liabilities assumed, is recognised in profit or loss as other gains/(losses).

Borrowings are classified as current liabilities unless the Company 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.

(s) Borrowing costs: General and specific borrowing costs that are directly attributable to the
acquisition, construction or production of a qualifying asset are capitalised during the period
of time that is required to complete and prepare the asset for its intended use or sale.
Qualifying assets are assets that necessarily take a substantial period of time to get ready for
their intended use or sale. Investment income earned on the temporary investment of specific
borrowings pending their expenditure on qualifying assets is deducted from the borrowing
costs eligible for capitalization. Other borrowing costs are expensed in the period in which
they are incurred.