2. Summary of Material Accounting
Policies

A) Basis of preparation and measurement of
Standalone Financial Statements

The Standalone Balance Sheet of the Company as
at 31 March 2025, the related Standalone Statement
of Profit and Loss (including Other Comprehensive
Income), the Standalone Statement of Changes
in Equity, and the Standalone Statement of
Cash Flows for the year ended 31 March 2025
and the Significant accounting policies and
Other Financial Information (together referred
to as ' Standalone Financial Statements') have
been prepared in accordance with the Indian
Accounting Standards (Ind AS) notified under
Section 133 of the Companies Act, 2013 ("the
Act") read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 (as amended
from time to time) presentation requirements of
Division II of Schedule III to the Companies Act,
2013, (Ind AS compliant Schedule III), as applicable
to the Standalone Financial Statements.

The Standalone Financial statements have been
prepared on a going concern basis. The accounting
policies are applied consistently to all the periods
presented in the Standalone Financial Statements.

The Standalone Financial Statements have been
prepared under the historical cost convention on
accrual basis except for the following items:

• Defined benefit liability/(assets): fair value
of plan assets less present value of defined
benefit obligation

• Certain financial assets and liabilities that are
measured at fair value or amortised value

The Standalone Financial Statements were
authorised for issue by the Board of Directors on
28 April 2025.

Functional and presentation currency

These Standalone Financial Statements are
presented in Indian Rupees ('INR'), which is the
Company's functional currency. All amounts have
been rounded to the nearest millions, unless
otherwise stated.

Fair value measurement

Fair value is the price that would be received
from sale of an asset or paid to transfer a
liability in an orderly transaction between market
participants at the measurement date. The fair
value measurement is based on the presumption
that the transaction to sell the asset or transfer the
liability takes place either-

• In the principal market for the asset or liability, or

• In the absence of a principal market, in the most
advantageous market for the asset or liability

The principal or the most advantageous market
must be accessible to/ by the Company.

All assets and liabilities for which fair value is
measured or disclosed in the Standalone Financial
Statement are categorised within the fair value
hierarchy, described as follows, based on the
lowest level input that is significant to the fair value
measurement as a whole-

• Level 1: quoted prices (unadjusted) in active
markets for identical assets or liabilities.

• Level 2: inputs other than quoted prices included
in Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly
(i.e. derived from prices).

• Level 3: inputs for the asset or liability that
are not based on observable market data
(unobservable inputs).

The Company's CFO determines the appropriate
valuation techniques and inputs for fair value
measurements. When measuring the fair value
of an asset or a liability, the Company uses
observable market data as far as possible. If the
inputs used to measure the fair value of an asset

or a liability fall into different levels of the fair value
hierarchy, then the fair value measurement is
categorized in its entirety in the same level of the
fair value hierarchy as the lowest level input that
is significant to the entire measurement. Where
Level 1 inputs are not available, the Company
engages third party qualified valuers to perform
the valuation. Any change in the fair value of each
asset and liability is also compared with relevant
external sources to determine whether the change
is reasonable.

For changes that have occurred between levels
in the hierarchy during the year the Company
re-assesses categorisation (based on the lowest
level input that is significant to the fair value
measurement as a whole) at the end of each
reporting period.

Use of judgments and estimates

In preparing these Standalone Financial
Statements, management has made judgments,
estimates and assumptions that affect the
application of the Company's accounting policies
and the reported amounts of assets, liabilities,
income and expenses. Management believes
that the estimates used in the preparation of the
Standalone Financial Statements are prudent
and reasonable. Actual results may differ from
these estimates.

Estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to
estimates are recognised prospectively.

Changes in estimates are reflected in the financial
estimates in the period in which changes are
made and if material, their effects are disclosed in
the notes to the Standalone Financial Statements.

a) Judgements

Information about the judgments made in
applying accounting policies that have the
most significant effects on the amounts
recognised in the Standalone Financial
Statements have been given below:

• Note O - Classification of financial assets:
assessment of business model within
which the assets the assets are held and
assessment of whether the contractual
terms of the financial asset are solely
payments of principal and interest on the
principal amount outstanding.

• Note C - Lease classification and
identification of lease component

• Note F - Identification and recognition of
intangible assets under development

b) Assumptions and

estimation uncertainties

Information about assumptions and
estimation uncertainties that have a significant
risk of resulting in a material adjustment in the
Standalone Financial Statements for every
period ended is included below:

• Employee benefit plans

The cost of defined benefit plans and
the present value of the obligation are
determined using actuarial valuations.
An actuarial valuation involves making
various assumptions which may differ
from actual developments in the future.
These include the determination of the
discount rate, future salary increases and
mortality rates. However, any changes in
these assumptions may have impact on
the reported amount of obligation and
expenses (Refer Note J).

• Taxes

Uncertainties exist with respect to the
interpretation of complex tax regulations,
changes in tax laws, and the amount
and timing of future taxable income. The
Company establishes provisions, based
on reasonable estimates, for possible
consequences of assessment by the tax
authorities of the jurisdiction in which it
operates. The amount of such provisions
is based on various factors, such as
experience of previous tax assessment
and differing interpretations of tax laws
by the taxable entity and the responsible
tax authority. The Company assesses the
probability for litigation and subsequent
cash outflow with respect to taxes.

Deferred income tax assets are
recognised for all unused tax losses to
the extent that it is probable that taxable
profit will be available against which
the losses can be utilised. Significant
management judgment is required to
determine the amount of deferred tax
assets that can be recognised, based
upon the likely timing and the level of
future taxable profits together with future
tax planning strategies. (Refer Note P)

• Useful life and residual value of
property, plant and equipment and
intangible assets

The charge in respect of periodic
depreciation is derived after estimating

CGUs as well as the discount rates. (Refer
N ote H)

B) Classification of assets and liabilities as
current and non-current

The Company presents assets and liabilities in
the Standalone Balance Sheet based on current/
non-current classification. An asset is treated as
current when it is:

• Expected to be realised or intended to be sold or
consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months
after the reporting period, or

• Cash and cash equivalents unless 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.

Deferred tax assets and liabilities are classified as
non-current assets and liabilities.

A liability is treated as current when:

• It is expected to be settled in normal
operating cycle

• It is held primarily for the purpose of trading

• It is due to be settled within twelve months after
the reporting period, or

• There is no unconditional right to defer the
settlement of the liability for at least twelve
months after the reporting period

All other liabilities are classified as non-current.

Operating Cycle

The operating cycle is the time between the
acquisition of the assets for processing and their
realisation in cash and cash equivalents. The
Company has identified twelve months as its
operating cycle.

C) Leases

The lease standard Ind AS 116 was notified to be
effective w.e.f. 1 April 2019 which provide guidelines
for the accounting of the lease contracts entered
in the capacity of a lessee and a lessor. For the
purpose of preparation of Standalone Financial
Statements, the Management has evaluated
the impact of change in accounting policies
on adoption of Ind AS 116 for the year ended 31
March 2019. Hence in these Standalone Financial

Statement, Ind AS 116 has been adopted with effect
from 1 April 2018 following modified retrospective
method (i.e. on 1 April 2018 the Company has
measured the lease liability at the present value
of the remaining lease payments, discounted
using the lessee's incremental borrowing rate at
initial application date and right-of-use assets are
measured at their carrying amount as if Ind AS
116 had been applied since the commencement
date, discounted using the lessee's incremental
borrowing rate at the date of initial application).

The Company assesses at contract inception
whether a contract is, or contains, a lease. That is, if
the contract conveys the right to control the use of
an identified asset for a period of time in exchange
for consideration.

The Company determines the lease term as the
non-cancellable period of a lease, together with
both periods covered by an option to extend the
lease if the Company is reasonably certain to
exercise that option; and periods covered by an
option to terminate the lease if the Company is
reasonably certain not to exercise that option. In
assessing whether the Company is reasonably
certain to exercise an option to extend a lease,
or not to exercise an option to terminate a lease,
it considers all relevant facts and circumstances
that create an economic incentive for the
Company to exercise the option to extend the
lease, or not to exercise the option to terminate
the lease. The Company revises the lease term if
there is a change in the non-cancellable period of
a lease.

i. As a lessee

As a lessee, the Company recognises right-of-
use assets and lease liabilities for most leases
- i.e. these leases are on-balance sheet.
The Company decided to apply recognition
exemptions to short-term leases.

At inception of a contract, the Company
assesses whether a contract is, or contains, a
lease. A contract is, or contains, a lease if the
contract conveys the right to control the use
of an identified asset for a period of time in
exchange for consideration. To assess whether
a contract conveys the right to control the use
of an identified asset, the Company uses the
definition of a lease in Ind AS 116. At inception or
on reassessment of a contract that contains
a lease component, the Company allocates
the consideration in the contract to each
lease component on the basis of their relative
stand-alone prices. However, for the leases
of land and buildings in which it is a lessee,
the Company has elected not to separate

non-lease components and account for the
lease and non-lease components as a single
lease component.

The Company recognises a right-of-use
asset and a lease liability at the lease
commencement date. The right-of-use asset
is initially measured at cost, which comprises
the initial amount of the lease liability
adjusted for any lease payments made at or
before the commencement date, plus any
initial direct costs incurred and an estimate of
costs to dismantle and remove the underlying
asset or to restore the underlying asset or
the site on which it is located, less any lease
incentives received. The right-of-use asset is
subsequently depreciated using the straight¬
line method from the commencement date
to the earlier of the end of the useful life of
the right-of-use asset or the end of the lease
term. The estimated useful lives of right-of-
use assets are determined on the same basis
as those of property, plant and equipment. In
addition, the right-of-use asset is periodically
reduced by impairment losses, if any, and
adjusted for certain remeasurements of the
lease liability.

The lease liability is initially measured at the
present value of the lease payments that
are not paid at the commencement date,
discounted using the interest rate implicit
in the lease or, if that rate cannot be readily
determined, the Company's incremental
borrowing rate at lease commencement date.
Generally, the Company uses its incremental
borrowing rate as the discount rate. The lease
liability is measured at amortised cost using
the effective interest method. It is remeasured
when there is a change in future lease
payments arising from a change in an index
or rate, if there is a change in the Company's
estimate of the amount expected to be
payable under a residual value guarantee,
if the Company changes its assessment of
whether it will exercise a purchase, extension
or termination option or if there is a revised
in-substance fixed lease payment. When
the lease liability is remeasured in this way,
a corresponding adjustment is made to the
carrying amount of the right-of-use asset,
or is recorded in profit or loss if the carrying
amount of the right-of-use asset has been
reduced to zero.

Lease payments included in the measurement
of the lease liability comprise:

a. Fixed payments including in-substance
fixed payments

b. Variable lease payments that depend
on an index or a rate, initially measured
using the index or rate as at the
commencement date

c. Amounts expected to be payable under a
residual value guarantee and

d. The exercise price under a purchase
option that the Company is reasonably
certain to exercise, lease payments in an
optional renewal period if the Company
is reasonably certain to exercise an
extension option, and penalties for
early termination of a lease unless the
Company is reasonably certain not to
terminate early.

Short-term leases and leases of low-
value assets

The Company has elected not to recognise
right-of-use assets and lease liabilities for
short-term leases of machinery (i.e., those
leases that have a lease term of 12 months or
less from the commencement date and do
not contain a purchase option) and leases of
low-value assets. The Company recognises
the lease payments associated with these
leases as an expense in profit or loss on a
straight-line basis over the lease term.

The Company presents right-of-use assets
as a separate line in the Standalone Balance
Sheet and lease liabilities in 'Financial
liabilities' in the Standalone Balance Sheet.

ii. As a lessor

When the Company acts as a lessor, it
determines at lease inception whether each
lease is a finance lease or an operating lease.

To classify each lease, the Company makes
an overall assessment of whether the lease
transfers substantially all of the risks and
rewards incidental to ownership of the
underlying asset. If this is the case, then the
lease is a finance lease; if not, then it is an
operating lease. As part of this assessment,
the Company considers certain indicators
such as whether the lease is for the major part
of the economic life of the asset.

When the Company is an intermediate lessor,
it accounts for its interests in the head lease
and the sub-lease separately. It assesses
the lease classification of a sub-lease with
reference to the right-of-use asset arising

from the head lease, not with reference to the
underlying asset. If a head lease is a short¬
term lease to which the Company applies the
exemption described above, then it classifies
the sub-lease as an operating lease.

The Company recognises lease payments
received under operating leases as income
on a straight-line basis over the lease term as
part of 'other income'.

D) Property, plant and equipment
Recognition and measurement

Property, plant and equipment

The cost of an item of property, plant and
equipment shall be recognized as an asset if, and
only if 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.

Items of property, plant and equipment are
measured at cost of acquisition or construction
less accumulated depreciation and accumulated
impairment losses, if any.

Cost of an item of property, plant and equipment
comprises its purchase price, including import
duties and non-refundable purchase taxes, after
deducting trade discounts and rebates, any
directly attributable cost of bringing the item
to its working condition for its intended use and
estimated costs of dismantling and removing the
item and restoring the site on which it is located.

The cost of self-constructed item of property,
plant and equipment comprises the cost of
materials and direct labour, any other costs
directly attributable to bringing the item to working
condition for its intended use, and estimated
costs of dismantling and removing the item and
restoring the site on which it is located.

If significant parts of an item of property, plant
and equipment have different useful lives, then
they are accounted for as a separate item (major
components) of property, plant and equipment.

Any gain or loss on disposal of property, plant and
equipment is recognised in Standalone Statement
of Profit and Loss.

Capital work-in-progress

Cost of assets not ready for intended use, as on
the balance sheet date, is shown as capital work-
in-progress. Advances given towards acquisition
of property, plant and equipment outstanding at
each balance sheet date are disclosed as other
non-current assets.

Subsequent Measurement

Subsequent expenditure is capitalised only if it
is probable that the future economic benefits
associated with the expenditure will flow to
the Company and the cost of the item can be
measured reliably.

Depreciation

The Company provides depreciation on Property,
Plant and Equipment based on the useful life as
determined by the Management.

The depreciation is provided under straight¬
line method.

Leasehold improvements are depreciated over
the primary period of the lease or the estimated
useful life of the assets, whichever is lower.

Depreciation on additions/ (disposals) is provided
on a pro-rata basis i.e. from/ (upto) the date on
which asset is ready for use/ (disposed-off).

Depreciation method, useful lives and residual
values are reviewed at each financial year-
end and adjusted if appropriate. Based on
technical evaluation and consequent advice, the
management believes that its estimates of useful
lives as given below best represent the period over
which management expects to use these assets.

E) Intangible assets

I ntangible assets acquired are stated at cost less
accumulated amortisation and impairment loss,
if any.

Intangible assets are amortised in the Standalone
Statement of Profit and Loss over their estimated
useful lives from the date they are available for
use based on the expected pattern of economic
benefits of the asset. Intangible asset is amortised
on straight line basis.

Subsequent expenditure is capitalised only when it
increases the future economic benefits embodied
in the specific asset to which it relates. All other
expenditure are recognised in the Standalone
Statement of Profit and Loss as incurred.

Amortisation method, useful lives and residual
values are reviewed at the end of each financial
year-end and adjusted if appropriate.

An intangible asset is derecognised on disposal,
or when no future economic benefits are expected
from use or disposal. Gains or losses arising from
derecognition of an intangible asset, measured
as the difference between the net disposal
proceeds and the carrying amount of the asset
are recognised in the Standalone Statement of
Profit and Loss when the asset is derecognised.

F) Intangible assets under development

Research costs are expensed as incurred. Software
product development costs are expensed as
incurred unless technical and commercial
feasibility of the project is demonstrated, future
economic benefits are probable, the Company
has an intention and ability to complete and use or
sell the software and the costs can be measured
reliably. The costs which can be capitalized include
the cost of software purchased, direct salary and
overhead costs that are directly attributable to
preparing the asset for its intended use.

These assets are not amortised, but evaluated for
potential impairment on an annual basis or when
there are indications that the carrying value may
not be recoverable. Any impairment is recognised
as an expense in the Standalone Statement of
Profit and Loss.

If the carrying amount of the assets exceed the
estimated recoverable amount, an impairment
is recognized for such excess amount. The
impairment loss is recognized as an expense in
the Standalone Statement of Profit and Loss, unless
the asset is carried at revalued amount, in which
case any impairment loss of the revalued asset is
treated as a revaluation decrease to the extent a
revaluation reserve is available for that asset.

G) Goodwill

Goodwill on acquisition of businesses is reported
separately from intangible assets.

As stated in the approved scheme of
amalgamation and arrangement approved by
National Company Law Tribunal, Hyderabad,
goodwill was being amortised over period of
10 years up to 31 March 2021 (Refer Note 41 and
Note 42). Further, this Goodwill is also tested for
impairment annually and is carried at cost less

accumulated amortization and accumulated
impairment losses, if any.

The Company has obtained approval from its
Board, shareholders, creditors, National Company
Law Tribunal ("NCLT") or any other appropriate
authority to modify the accounting treatment for
Goodwill mentioned (i) above with effect from 1
April 2021. As per the scheme filed and NCLT order
received, the treatment of Goodwill with effect
from 1 April 2021 shall be done as per applicable
accounting standards and / or other applicable
accounting policy. Accordingly, as per Ind AS 36 -
Impairment of Assets, the Company is required to
periodically test the impairment on Goodwill.

Goodwill generated through Business Transfer
Agreement (Refer Note 41 and Note 42) is tested
for impairment annually, and is carried at cost less
accumulated impairment, if any.

H) Impairment of non-financial assets

At each reporting date, the Company reviews
the carrying amounts of its non-financial assets
(other than inventories and deferred tax assets)
to determine whether there is any indication of
impairment. If any such indication exists, then the
asset's recoverable amount is estimated.

For impairment testing, assets are grouped
together into the smallest group of assets that
generates the cash inflows from continuing use
that are largely independent of the cash inflows of
other assets or Cash generating units (CGUs).

The recoverable amount of a CGU (or an individual
asset) is the higher of its value in use and its fair
value less costs to sell. Value in use is based on the
estimated future cash flows, 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 CGU
(or the asset).

Where it is not possible to estimate the recoverable
amount of individual asset, the Company
estimates the recoverable amount of the cash¬
generating unit to which the asset belongs.

An impairment loss is recognised if the
carrying amount of an asset or CGU exceeds its
recoverable amount.

Impairment losses are recognized in profit or loss.
They are allocated first to reduce the carrying
amount of any goodwill allocated to the CGU, and
then to reduce the carrying amounts of the other
assets in the CGU on a pro rata basis.

An impairment loss in respect of goodwill is not
subsequently revered. In respect of other assets for

which impairment loss has been recognized in prior
periods, the Company reviews at each reporting
date whether there is any indication that the loss
has decreased or no longer exists. An impairment
loss is reversed if there has been a change in the
estimates used to determine the recoverable
amount. Such a reversal is made only to the extent
that the asset's carrying amount does not exceed
the carrying amount that would have been
determined, net of depreciation or amortization, if
no impairment loss has been recognized.

l) Foreign currency transactions

Transactions in foreign currencies are recorded
by the Company at the exchange rates prevailing
at the date when the transaction first qualifies
for recognition. Monetary assets and liabilities
denominated in foreign currency are translated
into the functional currency at the exchange rates
prevailing at the reporting date.

Exchange differences arising on settlement or
translation of monetary items are recognised in
the Standalone Statement of Profit and Loss.

Non-monetary items that are measured at
historical cost in a foreign currency are translated
using the exchange rates at the date of initial
transactions. Non-monetary items measured
at fair value in a foreign currency are translated
using the exchange rates at the date when the fair
value is determined.

Foreign currency gains and losses are reported on
a net basis in the Standalone Statement of Profit
and Loss.

J) Employee benefits

Short-term employee benefits

Short-term employee benefits are expensed
as the related service is provided. A liability is
recognised for the amount expected to be paid if
the Company has a present legal or constructive
obligation to pay this amount as a result of
past service provided by the employee and the
obligation can be estimated reliably.

Defined contribution plans

A defined contribution plan is a post-employment
benefit plan under which an entity pays fixed
contributions to a separate entity and will
have no legal or constructive obligation to pay
further amounts.

The Company makes specified monthly
contribution towards employee provident fund
to Government administered provident fund
scheme, which is a defined contribution scheme.
The Company's contribution is recognised as an

expense in the Standalone Statement of Profit
and Loss during the period in which the employee
renders the related service.

Defined benefit plans

A defined benefit plan is a post-employment
benefit plan other than a defined contribution plan.

Gratuity

For defined benefit plans in the form of gratuity
fund, the cost of providing benefits is determined
using the projected unit credit method, with
actuarial valuation being carried out at the end of
each annual reporting period. The contributions
made to the fund are recognised as plan assets.
The defined benefit obligation as reduced by
fair value of plan assets is recognised in the
Standalone Balance Sheet. Re-measurements are
recognised in the other comprehensive income,
net of tax in the year in which they arise.

When the calculation results in a potential asset
for the Company, the recognised asset is limited to
the present value of economic benefits available
in the form of any future refunds from the plan or
reductions in future contributions to the plan. To
calculate the present value of economic benefits,
consideration is given to any applicable minimum
funding requirements.

Remeasurement of the net defined benefit liability,
which comprises actuarial gains and losses, the
return on plan assets (excluding interest) and
the effect of the asset ceiling (if any, excluding
interest), are recognised immediately in other
comprehensive income. Net interest expense/
(income) on the net defined liability/ (assets)
is computed by applying the discount rate
determined by reference to market yields at the
end of the reporting period on government bonds.
This rate is applied on the net defined liability/
(asset), to the net defined liability/ (asset) at the
start of the financial year after taking into account
any changes as a result of contribution and benefit
payments during the year. Net interest expense
and other expenses related to defined benefit
plans are recognised in the Standalone Statement
of Profit and Loss.

When the benefits of a plan are changed or when
a plan is curtailed, the resulting change in benefit
that relates to past service or the gain or loss on
curtailment is recognised immediately in profit or
loss. The Company recognises gains and losses
on the settlement of a defined benefit plan when
the settlement occurs.

Share-based payment arrangements

The cost of equity-settled transactions is
determined by the fair value at the date when
the grant is made using an appropriate valuation
model. That cost is recognised, together with a
corresponding increase in 'Share based payment'
reserves in equity, over the period in which the
performance and/or service conditions are
fulfilled in employee benefits expense. For share-
based payment arrangements with non-vesting
conditions, grant date fair value of the share-
based payment is measured to reflect such
conditions and there is no true-up for differences
between expected and actual outcomes. The
dilutive effect of outstanding options is reflected
as additional share dilution in the computation of
diluted earnings per share.

Other long-term employee benefits

Compensated absences which are not expected
to occur within twelve months after the end of
the period in which the employee renders the
related service are recognised as a liability at the
present value of the defined benefit obligation as
at the Balance Sheet date. The cost of providing
benefits is determined using the Projected Unit
Credit method, with actuarial valuations being
carried out at each Balance Sheet date. Actuarial
gains and losses are recognised in the Standalone
Statement of Profit and Loss in the period in which
they occur.

K) Revenue

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 (other than for those
items to which Ind AS 109 Financial Instruments are
applicable) towards satisfaction of a performance
obligation is measured at the amount of
transaction price (net of variable consideration,
if any) allocated to that performance obligation.
The transaction price of services rendered is net
of variable consideration on account of various
discounts and claims accepted by the Company
as part of the contract.

Revenue from registrar and transfer agency
services, including tech-enabled investor solutions
for domestic mutual funds, corporates, alternative
and wealth management businesses, and
pension fund solutions, is recognized based on
the terms of the respective contracts. This revenue
is recognized either over time as services are
performed or based on the number of transactions

processed or point-in time as and when services
are rendered.

Revenue from the sale of distinct internally
developed software is recognised upfront at the
point in time when the system / software is delivered
to the customer. In cases where implementation
and / or customisation services rendered
significantly modifies or customises the software,
these services and software are accounted for
as a single performance obligation and revenue
is recognised over time on a percentage of
completion method. The Company has adopted
the output method to measure progress of each
performance obligation.

Revenue from data processing services is
recognised based on the services rendered, in
accordance with the terms of the contract, either
on a time cost basis or on the basis of number of
enumerations processed.

Recoverable expenses represent expenses
incurred in relation to services performed. that
are recovered from the customers based on the
agreed terms and conditions.

Contract assets are recognised when there
are excess of revenues earned over billings on
contracts. Contract assets are classified as
unbilled receivables (only act of invoicing is
pending) when there is unconditional right to
receive cash, and only passage of time is required,
as per contractual terms.

Unearned and deferred revenue ("contract
liability") is recognised when there are billings in
excess of revenues.

Contract fulfilment costs are generally expensed
as incurred except for certain service costs which
meet the criteria for capitalisation. Such costs
are amortised over the contractual period. The
assessment of this criteria requires the application
of judgement, in particular when considering if
costs generate or enhance resources to be used
to satisfy future performance obligations and
whether costs are expected to be recovered.

Trade receivables

Trade receivables are amounts due from customers
for services rendered in the ordinary course
of business. Trade receivables are recognised
initially at transaction price unless they contain
significant financing components. The Company
holds trade receivables with the objective to
collect the contractual cash flows and therefore
measures them subsequently at amortised cost,
less provision for expected credit loss.

L) Other income

Interest income from a financial asset is recognised
when it is probable that the economic benefits
will flow to the Company and the amount of
income can be measured reliably. Interest income
is accrued on a time basis, by reference to the
principal outstanding and at the effective interest
rate applicable, which is the rate that exactly
discounts estimated future cash receipts through
the expected life of the financial asset to that
asset's net carrying amount on initial recognition.
Interest income is included in other income in the
Standalone Statement of Profit and Loss.

Dividends are recognised in Standalone Statement
of 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.

M) Borrowings and related cost

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.

Borrowing costs are expensed in the period in
which they occur. Borrowing costs consist of
interest and other costs that an entity incurs in
connection with the borrowing of funds.