1C(i) Use of estimates

The preparation of financial statements in conformity with generally accepted Indian Accounting standards (Ind AS)
principles, requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations
during the reporting period. Although these estimates are based upon management's best knowledge of current events
and actions, actual results could differ from these estimates.

1C(ii) Inventories

(a) Raw materials, fuel, stores & spares and packing materials are valued at lower of weighted average cost and net
realisable value (NRV). However, these items are considered to be realisable at cost, if the finished products, in
which they will be used, are expected to be sold at or above cost.

(b) Work in progress (WIP), Stock in trade and Finished goods are valued at lower of cost and NRV. Cost of Finished
goods and WIP includes cost of raw materials, cost of conversion and other costs incurred in bringing the
inventories to their present location and condition.

(c) Construction and Infrastructure Projects are valued at cost or net realisable value whichever is lower.

(d) Waste / Scrap: Waste / Scrap inventory is valued at NRV.

Net Realisable Value (NRV) for inventories is the estimated selling price in the ordinary course of business, less
the estimated costs of completion and the estimated costs necessary to make the sale.

1C(iii) Cash and Cash equivalents:

Cash and cash equivalents for the purpose of Cash Flow Statement comprise cash at bank, in hand (including cheques
in hand) and short term investment with an maturity of three months or less.

Cash Flow Statement:

Cash flows are reported using the indirect method, whereby the net profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and
item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing
and financing activities of the Company are segregated.

1C(iv) Property, Plant and Equipments:

(a) During transition from Indian GAAP to Ind AS on 01 April, 2015, the fair value of Property, Plant and Equipments
(PPE) is considered as the deemed cost of acquisition.

(b) Additions to Property, plant and equipment are stated at cost of acquisition or construction. 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. All other repairs and maintenance are charged to the Statement of Profit and Loss during the
period in which they are incurred.

(c) PPE acquired on hire purchase or on Financial Lease are shown at their principal cost, excluding the interest cost
included in these agreements which is charged to revenue over the life of the agreement.

(d) Depreciation is recognised using straight line method so as to depreciate the carrying value less the residual
values over the remaining useful life of the asset(s), other than freehold land and properties under construction,
as specified in Schedule II to the Companies Act, 2013. In case of certain classes of PPE, the Company uses
different useful lives than those prescribed in Schedule II to the Act. The useful lives have been assessed based
on technical advice, taking into account the nature of the PPE and the estimated usage of the asset on the basis of
management's best estimation of obtaining economic benefits from those classes of assets. The estimated useful
lives, residual values and the depreciation method are reviewed at the end of each reporting period, with the effect
of any changes in estimate accounted for on a prospective basis.

(e) Mines Development Expenses:

Stripping costs

The Company separates two different types of stripping costs that are incurred in surface mining activity:
Developmental stripping costs and production stripping costs

Developmental stripping costs in order to obtain access to quantities of mineral reserves that will be mined in
future periods are capitalised as part of mining assets. Capitalisation of developmental stripping costs ends when
the commercial production of the mineral reserves begins.

Production stripping costs

Production stripping costs are incurred to extract the ore in the form of inventories and/or to improve access to an
additional component of an ore body or deeper levels of material. Production stripping costs are accounted for as
inventories to the extent the benefit from production stripping activity is realised in the form of inventories.

The Company recognises a stripping activity asset in the production phase if, and only if, all of the following are
met: it is probable that the future economic benefit (improved access to the ore body) associated with the stripping
activity will flow to the Company, the Company can identify the component of the ore body for which access has
been improved and the costs relating to the improved access to that component can be measured reliably.

Such costs are presented within mining assets. After initial recognition, stripping activity assets are carried at cost
less accumulated amortisation and impairment. The expected useful life of the identified component of the ore
body is used to depreciate or amortise the stripping asset.

(f) Capital work-in-progress includes cost of property, plant and equipment under installation/ under development
as at the balance sheet date and are carried at cost, comprising of direct cost, directly attributable cost and
attributable interest.

(g) Material items such as Spare parts, Stand-by equipments and service equipments are classified as PPE when
they meet the definition of PPE as specified in Ind AS 16 and depreciated.

(h) Fair value of PPE is ascertained at regular intervals. However, PPE and intangible assets with definite lives, are
reviewed for impairment at each Balance Sheet date, if events or changes in circumstances indicate that their
carrying values may not be recoverable and impairment, if any, is charged to revenue.

(i) The Company classifies assets as held for sale if their carrying amounts will be recovered principally through
a sale transaction rather than through continuing use. This condition is regarded as met only when the asset is
available for immediate sale in its present condition subject only to terms that are usual and customary for sales of
such asset and its sale is highly probable. Such assets or company of assets / liabilities are presented separately
in the Balance Sheet, in the line “Assets/ Disposal company held for sale” and “Liabilities/ Disposal company
held for sale” respectively. Once classified as held for sale, intangible assets and PPE are no longer amortised or
depreciated.

Such assets or disposal companies held for sale are stated at the lower of carrying amount and fair value less
costs to sell.

1C(v) Intangible Assets Acquired Separately:

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortisation
and accumulated impairment loss, if any. Cost comprises the purchase price (net of tax / duty credits availed wherever
applicable) and any directly attributable cost of bringing the assets to its working condition for its intended use. The
Company determines the amortisation period as the period over which the future economic benefits will flow to the
Company after taking into account all relevant facts and circumstances. The estimated useful life and amortisation
method are reviewed periodically, with the effect of any changes in estimate being accounted for on a prospective
basis. Class of intangible assets and their estimated useful lives / basis of amortisation are as under:

1C(vi) Impairment of Non Financial Assets

At the end of each reporting period, the Company reviews the carrying amounts of non-financial assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is
not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount
of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be
identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the
smallest company of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at
least annually or whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the
estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current
market assessments of the time value of money and the risks specific to the asset for which the estimates of future
cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the
carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is
recognised immediately in Statement of Profit and Loss.

When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is
increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not
exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset
(or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Statement
of Profit and Loss.

1C(vii) Foreign Currency Transactions

(a) Transactions in currencies other than the Company's functional currency (i.e. foreign currencies) are recognised
at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary
items denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary items
carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date
when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign
currency are translated using the exchange rate as at the date of initial transactions.

Exchange differences on monetary items are recognised in the Statement of Profit and Loss in the period in which
they arise except for:

Exchange differences on foreign currency borrowings relating to assets under construction for future productive
use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on
those foreign currency borrowings;

Exchange differences relating to qualifying effective cash flow hedges and qualifying net investment hedges in
foreign operations which are recognised in OCI.

(b) Forward Exchange contracts used to hedge Foreign Currency Transactions are initially recognised at the spot rate
on the date of contract. Forward Exchange contracts remaining unsettled at the end of the year are translated at
the year end rates.The difference in translation of Forward exchange contracts are recognised in the profit and
loss account.

1C(viii) Borrowing Costs

Borrowing costs consist of interest and other ancillary costs that the Company incurs in connection with the borrowing
of funds. The borrowing costs directly attributable to the acquisition or construction of any asset that takes a substantial
period of time to get ready for its intended use or sale are capitalised. All the other borrowing costs are recognised in
the statement of profit and loss within finance costs of the period in which they are incurred. The amount of borrowing
cost that the Company capitalises during the period does not exceed the amount of borrowing cost incurred during that
period. All other borrowing costs incurred during that period are expensed in the period in which they occur.

1C(ix) Mines Restoration Expenses:

The company provides for the expenditure to reclaim the quarries used for mining based on the estimated expenditure
required to be made towards restoration and rehabilitation at the time of vacation of mines. Costs arising from such
obligation for restoration and rehabilitation at closure of the mines are assessed at each Balance Sheet date and the
provision if any required is made in the financial statements so as to reflect the current best estimates.

1C(x) A Revenue Recognition:

The Company has adopted Ind AS 115 with effect from 01-04-2018 (i.e.,) from the date on which it became
applicable

(a) Revenue Recognition on Sale of goods:

Revenue is recognized on the basis of approved contracts regarding the transfer of goods or services to a
customer for an amount that reflects the consideration to which the entity expects to be entitled in exchange for
those goods or services. Revenue is measured at the fair value of consideration received or receivable which is
net of discounts, incentives & volume rebates on sales in terms of various schemes with the Customers.

Any amounts receivable from the customer are recognised as revenue after the control over the goods sold are
transferred to the customer.

The company does not adjust the promised amount of consideration for the effects of a significant financing
component if it expects, at contract inception, that the period between the transfer of the promised good or service
to the customer and when the customer pays for that good or service will be one year or less.

(b) Revenue from Freight Services (Charter of Ship):

Revenue from ship hiring services which are on time charter is recognised on accrual basis.

(c) Revenue from sale of Power generated:

Revenue from power generated from windmills:-

Power generated from Windmills that are covered under Wheeling & banking arrangement with utilities and
consumed internally between manufacturing units and the same is recognised as revenue.

Revenue from power generated from captive thermal power plants:-

Power generated in excess of needs of captive utilization is sold to third parties which is recognized as revenue
to the extent of such sale.

B Dividend income is recognised when the Company's right to receive dividend is established.

1C(xi) Research and Development

Research and Development expenses not resulting in any tangible property/equipment are charged to revenue.
1C(xii) Investments:

The Company's investment in its subsidiaries, associates and Joint Ventures are carried at cost net of accumulated
impairment loss, if any.

On disposal of the Investment, the difference between the net disposal proceeds and the carrying amount is charged
or credited to the Statement of Profit and Loss.

Investments other than in Subsidiaries and Associates are stated at fair values.Investment carried at cost is tested for
impairment as per IND AS 36.

1C(xiii) Employee benefits(a) Recognition and measurement of defined contribution plans

The Company recognizes contribution payable to a defined contribution plan as an expense in the Statement of
Profit and Loss when the employees render services to the Company during the reporting period.

(b) Recognition and measurement of Defined Benefit plans

The cost of providing defined benefits is determined using the Projected Unit Credit method with actuarial
valuations being carried out at each reporting date. The defined benefit obligations recognized in the Balance
Sheet represent the present value of the defined benefit obligations as reduced by the fair value of plan assets,
if applicable.

All expenses represented by current service cost, past service cost, if any, and net interest on the defined benefit
liability/(asset) are recognized in the Statement of Profit and Loss.

Remeasurements of the net defined benefit liability/ comprising actuarial gains and losses and the return on the
plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognized in Other
Comprehensive Income.

(c) Other Long Term Employee Benefits

Entitlements to annual leave and sick leave are recognized when they accrue to employees. Unavailed leave
balances are accounted using the Projected Accrued Benefit method with actuarial valuations being carried out at
each Balance Sheet date.

(d) Fringe Benefits arising on options vested under Employees Stock Options Scheme (ESOS) are charged to Profit
and Loss Account and credited to Stock Options Outstanding Account. On allotment of shares, corresponding
amount is transferred from Stock Option Outstanding account to Securities Premium Account.

1C(xiv) Tax Expense

(a) Current income tax is measured and accounted based on the amount expected to be paid to the tax authorities
in accordance with the Indian Income Tax Act, 1961 at the tax rates applicable for the year.

(b) Deferred Tax

Deferred tax is provided, on all temporary differences at the reporting date between the tax base of assets and
liabilities and their carrying amounts for financial reporting purposes. Deferred tax is measured and accounted
based on the tax rates and tax laws enacted or substantively enacted as at the Balance Sheet date.

(c) For the purpose of (a) & (b) above, tax rate prescribed under section 115BAA has been adopted as per the existing
provisions of the law.

(d) A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against
which the temporary difference can be utilised except:

a) When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition
of an asset or liability in a transaction that is not a business combination and, at the time of the transaction,
affects neither the accounting profit nor taxable profit or loss; and

b) In respect of deductible temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the
temporary differences will reverse in the foreseeable future and taxable profit will be available against which
the temporary differences can be utilised.

Deferred tax assets are reviewed at each reporting date and are recognised / reduced to the extent that it is
probable / no longer probable respectively that the related tax benefit will be realised.