i. Basis of Accounting and Statement of compliance
These Standalone financial statements have been prepared in accordance with the Indian Accounting
Standards (referred to as “Ind AS”) prescribed under section 133 of the Companies Act, 2013 read with the
Companies (Indian Accounting Standards) Rules as amended from time to time.
ii. Functional and Presentation currency
The Company’s Standalone financial statement are presented in Indian Rupees (Rs.), which is also its
functional currency and all amounts have been rounded to nearest lakhs unless otherwise indicated.
iii. Basis of preparation and presentation
The Standalone financial statements have been prepared on accrual and going concern basis. The
accounting policies are applied consistently to all the periods presented in the standalone financial
statements. All assets and liabilities have been classified as current and non-current as per the Company’s
normal operating cycle (which has been taken as 12 months). Company’s Standalone financial statements
are presented in Indian Rupees, which is also its functional currency.
iv. Basis of Measurement
These Standalone financial statements are prepared under the historical cost convention except for certain
class of financial assets/ liabilities, share based payments and net liability for defined benefit plans that are
measured at fair value. The accounting policies adopted are the same as those which were applied for the
previous financial year.
v. Use of estimates and Judgements
The preparation of Standalone financial statement is in conformity with the recognition and measurement
principles of IND AS which requires the management to make judgments, estimates and assumptions in
the application of accounting policies that affect the reported amount of assets, liabilities, disclosures of
contingent liabilities as at the date of Standalone financial statements and the reported amounts of income
and expenses for the period presented. Actual results may differ from these estimates. The company has
a policy to review these estimates and underlying assumption on an ongoing basis. Revision to accounting
estimates are recognized in the period in which the estimates are revised and future periods are affected.
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as issued from time to time. During the year
ended March 31,2025, MCA has not notified any new standards or amendments to the existing standards
applicable to the Company.
Summary of Significant Accounting Policies
A. Property, plant and equipment
Freehold land is carried at historical cost. All other items of Property, plant and equipment are stated at
cost, net of trade discount, rebates and recoverable taxes less accumulated depreciation and impairment
losses, if any. Such cost includes purchase price, borrowing cost and any cost directly attributable to bring
the assets to its working condition for its intended use. Subsequent costs are included in the carrying
amount of the respective Property, plant & equipment 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 entity and
the cost can be measured reliably. Depreciation of these assets commences when the assets are ready
for their intended use which is generally on commissioning. Items of property, plant and equipment are
depreciated in a manner that amortizes the cost of the assets after commissioning, less its residual value
(5% of Original cost), over their useful lives as specified in Schedule II of the Companies Act, 2013 on
a straight line basis. Gains or losses arising from de-recognition of Property, plant & equipment are
measured as the difference between the net disposal proceeds and the carrying amount of the Property,
plant & equipment and are recognized in the Standalone statement of profit and loss when the Property,
plant & equipment is derecognized. The Company has elected to continue with the carrying value of all of
its property, plant and equipment at the transition date and use that carrying value as the deemed cost of
the property, plant and equipment.
B. Inventories
Items of inventories are measured at lower of cost and net realizable value after providing for obsolescence,
if any, except in case of scrap, which is valued at net realizable value. Cost of inventories comprises of
cost of purchase, cost of conversion and other costs including manufacturing overheads net of recoverable
taxes incurred in bringing them to their respective present location and condition. Cost of raw materials,
stores and spares, packing materials, trading and other products are determined on weighted average
basis.
C. Intangible assets
Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates
less accumulated amortization /depletion and impairment loss, if any. Such cost includes purchase price,
borrowing costs, and any cost directly attributable to bringing the asset to its working condition for the
intended use. 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 entity and the cost can be measured reliably. Intangible assets are amortized using straight line
method based on management estimate of useful life of the assets.
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