2. Material Accounting Policies
i. Basis of accounting
These standalone financial statements have been prepared on the historical cost basis, except for certain
financial instruments which are measured at fair values or at amortised cost at the end of each reporting period,
as explained in the accounting policies below.
Fair value is the price that would be received on sale of an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. Fair value measurements are categorised as
below, based on the degree to which the inputs to the fair value measurements are observable and the
significance of the inputs to the fair value measurement in its entirety:
i. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that
the Company can access at measurement date;
ii. Level 2 inputs are inputs, other than quoted prices included in level 1, that are observable for the
asset or liability, either directly or indirectly; and
iii. Level 3 inputs are unobservable inputs for the valuation of assets or liabilities.
Above levels of fair value hierarchy are applied consistently and generally, there are no transfers between the
levels of the fair value hierarchy unless the circumstances change warranting such transfer.
Accounting policies have been consistently applied except where a new accounting standard is initially adopted
or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.
Statement of Compliance and Basis of Preparation
These standalone financial statements have been prepared in accordance with the provisions of the Companies
Act, 2013 ("the Act") and the Indian Accounting Standards ("Ind AS") notified under the Companies (Indian
Accounting Standards) Rules, 2015 and amendments thereof issued by Ministry of Corporate Affairs under
section 133 of the Companies Act, 2013. In addition, the guidance notes/announcements issued by the
Institute of Chartered Accountants of India (ICAI) are also applied except where compliance with other
statutory promulgations require a different treatment. These financial statements have been approved for issue
by the Board of Directors at their meeting held on May 26, 2026.
Classification of Assets and Liabilities
The Company classifies an asset as current asset when:
— it expects to realise the asset, or intends to sell or consume it, in its normal operating cycle;
— it is held primarily for trading;
— it expects to realise the asset within twelve months after the reporting period; or
— the asset is cash or a cash equivalent unless the asset is restricted from being exchanged or used to
settle a liability for at least twelve months after the reporting period.
All other assets are classified as non-current.
A liability is classified as current when:
— it expects to settle the liability, in its normal operating cycle;
— it is held primarily for the purpose of trading;
— the liability is due to be settled within twelve months after the reporting period; or
— it does not have an unconditional right to defer settlement of the liability for at least twelve months
after the reporting period. Terms of a liability that could, at the option of the counterparty, result in
its settlement by the issue of equity instruments do not affect its classification.
All other liabilities are classified as non-current.
The operating cycle is the time between the acquisition of assets for processing and their realisation in cash
or cash equivalents. The Company's normal operating cycle is twelve months for Time & Material Project and
Contract life for a Fixed Price Project.
ii. Presentation of Standalone Financial Statements
The balance sheet and the statement of profit and loss are prepared in the format prescribed in Schedule III
to the Act. The statement of cash flows has been prepared under indirect method and presented as per the
requirements of Ind AS 7 "Statement of Cash Flows".
The disclosure requirements with respect to items in balance sheet and statement of profit and loss, as
prescribed in Schedule III to the Act, are presented by way of notes forming part of accounts along with the
other notes required to be disclosed under the notified Ind AS and the SEBI (Listing Obligation and
Disclosure Requirements) Regulations, 2015, as amended.
Amounts in the standalone financial statements are presented in Indian Rupees in Lakhs as permitted by
Schedule III to the Companies Act, 2013. Per share data are presented in Indian Rupees to two decimals
places.
iii. Use of Estimates and Judgements
The preparation of these standalone financial statements in conformity with the recognition and measurement
principles of Ind AS requires the management of the Company to make judgements, estimates and
assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent
liabilities as at the date of the standalone financial statements. Uncertainty about these assumptions and
estimates could result in outcomes that require a material adjustment to the carrying amount of assets or
liabilities affected in future years. The Company based its assumptions and estimates on parameters available
when the financial statements were prepared.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimates are revised, and future periods, if the change affects both.
Information about material areas of estimation, uncertainty and critical judgments in applying accounting
policies that have the material effect on the amounts recognised in the standalone financial statements are
included in the following notes:
i) Revenue recognition: The Company applies judgement to determine whether each service promised to
a customer is capable of being distinct, and is distinct in the context of the contract, if not, the promised
service is combined and accounted as a single performance obligation. The Company uses the percentage of
completion method using the input (cost expended) method to measure progress towards completion in
respect of fixed-price contracts. Percentage of completion method accounting relies on estimates of total
expected contract cost. This method is followed when reasonably dependable estimates of the revenues and
costs applicable to various elements of the contract can be made. Key factors that are reviewed in estimating
the future costs to complete include estimates of future labour costs and productivity efficiencies. Because the
financial reporting of these contracts depends on estimates that are assessed continually during the term of
these contracts, revenue recognised, profit and timing of revenue for remaining performance obligations are
subject to revisions as the contract progresses to completion. When estimates indicate that a loss will be
incurred, the loss is provided for in the period in which the loss becomes probable.
ii) Income taxes: The major tax jurisdiction for the Company is India. Significant judgments are involved in
determining the provision for income taxes including judgment on whether tax positions are probable of being
sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over
extended time periods.
iii) Defined benefit plans and compensated absences: The cost of the defined benefit plans, compensated
absences and the present value of the defined benefit obligations are based on actuarial valuation using the
projected unit credit method. An actuarial valuation involves making various assumptions that may differ from
actual developments in the future. These include the determination of the discount rate, future salary increases
and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each
reporting date.
iv) Expected credit losses on financial assets: The impairment provisions of financial assets are based on
assumptions about risk of default and expected timing of collection. The Company uses judgement in making
these assumptions and selecting the inputs to the expected credit loss calculation based on the Company's
history of collections, customer's creditworthiness, existing market conditions as well as forward looking
estimates at the end of each reporting period.
viii) Useful lives of property, plant and equipment: The Company depreciates property, plant and equipment
on a straight-line basis over estimated useful lives of the assets. The charge in respect of periodic depreciation
is derived based on an estimate of an asset's expected useful life and the expected residual value at the end of
its life. The lives are based on historical experience with similar assets as well as anticipation of future events,
which may impact their life, such as changes in technology. The estimated useful life is reviewed at least
annually.
iv. Functional and Presentation Currency
These standalone financial statements are presented in Indian rupees, which is the functional currency of the
Company.
v. Revenue Recognition
Revenue is recognised upon transfer of control of promised services to customers in an amount that reflects
the consideration which the company expects to receive in exchange for those services. Revenues from
customer contracts are considered for recognition and measurement when the contract has been approved by
the parties to the contract, the parties to the contract are committed to perform their respective obligations,
each party's rights and obligations and the payment terms can be identified, the contract has commercial
substance and it is probable that the entity will collect the consideration to which it is entitled to in exchange
for the services that will be transferred to the customer.
The company assesses the services promised in a contract and identifies distinct performance obligations in
the contract.
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts
collected on behalf of third parties. The company's contracts may include variable consideration including
rebates, volume discounts and penalties. The Company includes variable consideration as part of transaction
price when there is a basis to reasonably estimate the amount of the variable consideration and when it is
probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty
associated with the variable consideration is resolved.
The Company allocates the transaction price to each distinct performance obligation based on the relative
standalone selling price.
Any change in scope or price is considered as a contract modification. The Company accounts for
modifications to existing contracts by assessing whether the services added are distinct and whether the pricing
is at the standalone selling price. Services added that are not distinct are accounted for on a cumulative catch¬
up basis, while those that are distinct are accounted for prospectively, either as a separate contract if the
additional services are priced at the standalone selling price, or as a termination of the existing contract and
creation of a new contract if not priced at the standalone selling price.
Revenue from contracts which are on time and material basis are recognized when services are rendered, and
related costs are incurred.
Revenue from fixed-price contracts where the performance obligations are satisfied over time and where there
is no uncertainty as to measurement or collectability of consideration, is recognized as per the percentage-of-
completion method. Use of the percentage of completion method requires the Company to estimate the
efforts or cost expended to date (input method) as a proportion of the total efforts or costs to be expended.
The cost & efforts expended (or input) method has been used to measure progress towards completion as
there is a direct relationship between input and productivity. Estimates of total costs or efforts are
continuously monitored over the term of the contracts and are recognized in the net profit prospectively in
the period when these estimates change or when the estimates are revised. Provisions for estimated losses, if
any, on incomplete contracts are recorded in the period in which such losses become probable based on the
estimated efforts or costs to complete the contract.
The company presents revenue net of discounts, indirect taxes and value-added taxes in its statement of profit
and loss.
Contracts assets are recognised when there is excess of revenue earned over billings on contracts. Contract
assets are classified as unbilled revenue when there is unconditional right to receive cash, and only passage of
time is required, as per contractual terms. Contract liability ("Unearned revenue") arises when there are billing
in excess of revenue.
vi. Other Income
— Interest income is accrued on a time basis by reference to the principal outstanding and the effective
interest rate.
— Dividend income is accounted for in the period in which the right to receive the same is established.
— Exchange gain/loss consists of mark to market gain/loss on ineffective hedges, realized gain/loss
and revaluation gain/loss on translation of foreign currency assets and liabilities.
— Other items of income are accounted as and when the right to receive arises and it is probable that
the economic benefits will flow to the Company and the amount of income can be measured reliably.
vii. Employee Benefits
a. Short Term Employee Benefits
All employee benefits falling due wholly within twelve months of rendering the service are classified
as short-term employee benefits. The benefits like salaries, wages, and short-term compensated
absences and performance incentives are recognized in the period in which the employee renders the
related service.
b. Post-Employment Benefits
i. Defined Contribution Plan
The Company's contribution to state governed provident fund scheme, employee state insurance
scheme and employee pension scheme are classified as defined contribution plans. The contribution
paid / payable under the schemes is recognised in the statement of profit and loss in the period in
which the employee renders the related service.
ii. Defined Benefit Plans
The Company's gratuity and post-retirement benefit schemes are defined benefit plans. A portion of
the gratuity obligation is funded through the Reliance Nippon Gratuity Fund, while the remaining
gratuity obligation and post-retirement benefit obligations are unfunded and are met directly by the
Company as and when the benefits become due to eligible employees. The present value of the
obligation under such defined benefit plans is determined at each reporting date based on an actuarial
valuation carried out using the Projected Unit Credit Method. This method recognizes each period
of service as giving rise to an additional unit of employee benefit entitlement and measures each unit
separately to build up the final obligation for eligible employees. The fair value of plan assets, where
applicable, is deducted from the present value of the defined benefit obligation to determine the net
defined benefit liability recognized in the financial statements.
The obligation is measured at the present value of the estimated future cash flows. The discount rates
used for determining the present value of the obligation under defined benefit plans, is based on the
market yields on government bonds, having maturity periods approximating to the terms of related
obligations. In case of funded plans, the fair value of the plan assets is reduced from the gross
obligation under the defined benefit plans to recognize the obligation on net basis.
Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding
amounts included in net interest on the net defined benefit liability and the return on plan assets, are
recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings
through OCI in the period in which they occur. Remeasurements are not reclassified to profit or loss
in subsequent periods. Other changes in net defined benefit obligation like current service cost, past
service cost, gains and losses on curtailment and net interest expense or income are recognized in the
statement of profit and loss.
With respect to defined benefit plan for overseas employees, the Company provides for post¬
employment benefits payable as per the laws applicable in respective countries and the requirements
of the standard, as explained above.
iii. Compensated Absences
The Company treats accumulated leave expected to be carried forward beyond twelve months, as
other Long Term Employee benefits for measurement purposes. Such long-term compensated
absences are provided based on the actuarial valuation using the projected unit credit method at the
reporting date. Actuarial gains/losses are immediately taken to the statement of profit and loss and
are not deferred. The obligations are presented as current liabilities in the balance sheet if the entity
does not have an unconditional right to defer the settlement for at least twelve months after the
reporting date.
viii. Property, Plant and Equipment (PPE)
Recognition & Measurement:
Property, plant and equipment is recognised when it is probable that future economic benefits
associated with the item will flow to the Group and the cost of the item can be measured reliably.
Property, plant and equipment are stated at cost net of tax/duty credits availed, if any, less accumulated
depreciation and cumulative impairment loss, if any.
Subsequent expenditure relating to Property Plant and Equipment is capitalized only if such expenditure
results in an increase in the future benefits from such asset beyond its previously assessed standard of
performance.
PPE not ready for intended use on the date of balance sheet are disclosed as “capital work-InProgress”
• Depreciation
Depreciation is provided for property, plant and equipment so as to expense the cost over their
estimated useful lives, based on evaluation, using straight-line method. The estimated useful lives and residual
value are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted
for on a prospective basis.
Project specific assets are amortized over their estimated useful life on a straight-line basis or over the
period of the license/project period, whichever is shorter.
Estimated useful life of assets is different than useful life as prescribed in schedule II of the Companies
Act, 2013.
Intangible assets and amortisation
Intangible assets are recognised when it is probable that the future economic benefits that are attributable
to the asset will flow to the Group and the cost of the asset can be measured reliably.
Intangible assets purchased are measured at cost (net of tax/duty credits availed, if any), less accumulated
amortisation and cumulative impairment, if any.
Intangible assets are amortized on straight-line basis over their estimated useful life. The method of
amortisation and useful life are reviewed at the end of each financial year with the effect of any changes in the
estimate being accounted for on a prospective basis.
Research and development expenditure on new products:
Expenditure on research is expensed under respective heads of account in the period in which it is incurred.
Development expenditure on new products is capitalized as intangible asset, if all the following can be
demonstrated:
a. the technical feasibility of completing the intangible asset so that it will be available for use or sale;
b. the Group has intention to complete the intangible asset and use or sell it;
c. the Group has ability to use or sell the intangible asset;
d. the manner in which the probable future economic benefits will be generated including the existence
of a market for output of the intangible asset or intangible asset itself or if it is to be used internally,
the usefulness of intangible assets;
e. the availability of adequate technical, financial and other resources to complete the development and
to use or sell the intangible asset; and
f. the Group has ability to reliably measure the expenditure attributable to the intangible asset during
its development. Development expenditure that does not meet the above criteria is expensed in the
period in which it is incurred.
Impairment of assets
i. Trade Receivable
The Group uses an expected credit loss model to determine impairment loss on portfolio of its trade
receivable. The ECL model is based on its historically observed default rates and timing of collection over the
expected life of the trade receivable and is adjusted for forward-looking estimates.
ii. Non- financial Assets
Property, plant and equipment and intangible assets (other than goodwill) are evaluated for
recoverability whenever there is any indication that their carrying amounts may not be recoverable. If the
recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount
of the asset (or CGU) is reduced to its recoverable amount. An impairment loss is recognised in the statement
of profit and loss. Recoverable amount is determined at the higher of the fair value less costs of disposal and
the value-in-use.
Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group
of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than it’s carrying
amount, an impairment loss is recognised. Impairment losses relating to goodwill cannot be reversed in future
periods. The recoverable amount of a CGU is determined based on higher of value-in-use and fair value less
cost to sell.
ix. Leases
Ind AS 116 "Leases" sets out the principles for the recognition, measurement, presentation and disclosure of
leases for both lessees and lessors.
The Company recognises right-of-use asset representing its right to use the underlying asset for the lease term
at the lease commencement date. The cost of the right-of-use asset measured at inception comprises of the
amount of the initial measurement of the lease liability adjusted for any lease payments made at or before the
commencement date less any lease incentives received, plus any initial direct costs incurred.
The right-of-use assets is subsequently measured at cost less any accumulated depreciation and accumulated
impairment losses, if any and adjusted for any remeasurement of the lease liability. The right-of-use assets is
depreciated using the straight-line method from the commencement date over the lease term life of right-of-
use asset.
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 include fixed payments (including in
substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index
or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include
the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of
penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate.
Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are
incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.
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 elected not to recognize assets and liabilities for (a) short-term leases (for a period of twelve
months or less) and (b) leases of low value assets. For these short-term and low value leases, the Company
recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.
The Company recognises the amount of the remeasurement of lease liability as an adjustment to the right-of-
use asset. Where the carrying amount of the right-of-use asset is reduced to zero and there is a further
reduction in the measurement of the lease liability, the Company recognises any remaining amount of the re¬
measurement in statement of profit and loss.
Ind AS 116 requires lessees to determine the lease term as the non-cancellable period of a lease adjusted with
any option to extend or terminate the lease, if the use of such option is reasonably certain. The Company
makes an assessment on the expected lease term on a lease-by-lease basis and thereby assesses whether it is
reasonably certain that any options to extend or terminate the contract will be exercised. The lease term in
future periods is reassessed to ensure that the lease term reflects the current economic circumstances.
x. Financial Instruments
Financial assets and/or financial liabilities are recognised when the Company becomes party to a contract
embodying the related financial instruments. All financial assets, financial liabilities and financial guarantee
contracts are initially measured at transaction price and where such price is different from fair value, at fair
value. However, for trade receivables that do not contain a significant financing component are initially
measured at transaction price. Transaction costs that are attributable to the acquisition or issue of financial
assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or
loss) are added to or deducted from, as the case may be, the fair value of such financial assets or liabilities on
initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial
liabilities at fair value through profit or loss are recognised in profit or loss.
a. Non-Derivative Financial Assets
- Financial Assets at Amortised Cost
Debt Financial assets are subsequently measured at amortised cost if these financial assets are held
within a business model whose objective is to hold these assets in order to collect contractual cash
flows and the contractual terms of the financial asset give rise on specified dates to cash flows that
are solely payments of principal and interest on the principal amount outstanding. Financial assets at
amortised cost are represented by trade receivables, cash and cash equivalents, employee and other
advances and other eligible current and non-current financial assets.
- Financial Assets at Fair Value through Other Comprehensive Income
Debt Financial assets are measured at fair value through other comprehensive income if these
financial assets are held within a business model whose objective is achieved by both collecting and
selling contractual cash flows that give rise on specified dates to solely payments of principal and
interest on the principal amount outstanding.
- Financial Assets at Fair Value through Profit or Loss
Financial assets are measured at fair value through profit or loss unless it is measured at amortised
cost or at fair value through other comprehensive income on initial recognition. The transaction costs
directly attributable to the acquisition of financial assets and liabilities at fair value through profit or
loss are immediately recognised in profit or loss.
b. Non-Derivative Financial Liabilities
Financial liabilities are initially recognised at fair value, and subsequently carried at amortised cost
using the effective interest method. For trade and other payables maturing within 1 year from balance
sheet date, the carrying amount approximate fair value due to short maturity of these instruments.
c. Derivative Financial Instruments
The Company uses derivative financial instruments, such as forward contracts and options to hedge
its foreign currency risks. Such derivative financial instruments are initially recognised at fair value on
the date on which a derivative contract is entered into and are subsequently re-measured at fair value.
Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when
the fair value is negative.
Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or
loss, except for the effective portion of cash flow hedges, which is recognised in other comprehensive
income and later reclassified to profit or loss when the hedge item affects profit or loss.
Cash Flow Hedge:
The Company designates foreign exchange forward & options contracts as hedge instruments in
respect of foreign exchange risks. These hedges are accounted for as cash flow hedges.
The Company uses hedging instruments that are governed by the policies of the Company which are
approved by the Board of Directors, which provide written principles on the use of such financial
derivatives consistent with the risk management strategy of the Company.
The hedge instruments are designated and documented as hedges at the inception of the contract.
The effectiveness of hedge instruments to reduce the risk associated with the exposure being hedged
is assessed and measured at inception and on an ongoing basis.
The effective portion of change in the fair value of the designated hedging instrument is recognised
in the other comprehensive income and accumulated under the heading cash flow hedge reserve. The
amount accumulated in other comprehensive income is reclassified to statement of profit or loss as
reclassification adjustment in the same period or periods during which the hedged cash flows affect
profit or loss. The ineffective portion of designated hedges are recognised immediately in the
statement of profit and loss.
Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or no
longer qualifies for hedge accounting. Any gain or loss recognised in other comprehensive income
and accumulated in equity and is recognised in statement of profit and loss when the forecasted
transaction ultimately affects the profit or loss. When a forecasted transaction is no longer expected
to occur, the cumulative gain or loss accumulated in equity is transferred to the statement of profit
and loss.
d. De-recognition
The Company derecognizes a financial asset when the contractual rights to the cash flows from the
financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition
under Ind AS 109 "Financial Instruments". A financial liability (or a part of a financial liability) is
derecognized from the Company's balance sheet when the obligation specified in the contract is
discharged or cancelled or expires.
xi. Cash and Cash Equivalents
Cash and cash equivalents includes cash on hand, balance with banks, deposits held at call with financial
institutions and other deposits with original maturity 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.
xii. Foreign Currencies
The functional currency of the Company is Indian rupee.
Income and expenses in foreign currencies are recorded at exchange rates prevailing on the date of the
transaction. Foreign currency denominated monetary assets and liabilities are translated at the exchange rate
prevailing on the balance sheet date and exchange gains and losses arising on settlement and restatement are
recognized in the statement of profit and loss.
Non-monetary assets and liabilities that are measured in terms of historical cost in foreign currencies are not
retranslated.
xiii. Income Tax
Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability
during the year. Current and deferred taxes are recognized in statement of profit and loss, except when they
relate to items that are recognized in other comprehensive income or directly in equity, in which case, the
current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively.
Current Income Taxes
The current income tax expense includes income taxes payable by the Company. The current tax payable by
the Company in India is Indian income tax payable for their worldwide income.
Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting
advance tax paid and income tax provision. where the relevant tax paying units intends to settle the asset and
liability on a net basis.
Deferred Income Taxes
Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities
are recognized for deductible and taxable temporary differences arising between the tax base of assets and
liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition
of an asset or liability in a transaction that is not a business combination and affects neither accounting nor
taxable profit or loss at the time of the transaction.
Deferred income tax asset is recognized to the extent that it is probable that taxable profit will be available
against which the deductible temporary differences and the carry forward of unused tax credits and unused
tax losses can be utilized.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the
deferred income tax asset to be utilized.
Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to
taxable income in the years in which the temporary differences are expected to be received or settled.
The Company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable
right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities
relate to income taxes levied by the same taxation authority on the same taxable entity.
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