B. Significant Accounting Policies
B.1 Basis of Preparation and Presentation
B.1.1 Statement of Compliance

The financial statements comply in all material aspects with Indian Accounting Standards (Ind AS) notified under Section
133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the
Companies (Indian Accounting Standards) Amendment Rules, 2016. The financial statements up to year ended March 31,
2024 were prepared in accordance with the accounting standards notified under Companies (Accounting Standard) Rules,
2006 (as amended) and other relevant provisions of the Act. Previous period figures in the financial statements have been
restated in Ind AS.

B.1.2 Basis of Measurement

The standalone financial statements have been prepared on a historical cost basis, on the accrual basis of accounting
except for certain financial assets and liabilities measured at fair value at the end of each reporting period, as explained in
relevant schedule notes.

B.1.3 Functional and presentation currency

Indian rupee is the functional and presentation currency.

B.1.4 Use of estimates

The preparation of the financial statements in conformity with Ind AS requires management to make estimates, judgments
and assumptions.

These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of
assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported
amounts of revenues and expenses during the period.

Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate
changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates.
Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material,
their effects are disclosed in the notes to the financial statements.

Application of accounting policies that require critical accounting estimates involving complex and subjective judgments
and the use of assumptions in these financial statements are:

- Useful lives of Property, plant and equipment

- Valuation of financial instruments

- Provisions and contingencies

- Income tax and deferred tax

- Measurement of defined employee benefit obligations

- Export Incentive

B.2 Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue

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can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

B.2.1 Sale of Goods

Revenue from sale of goods is recognized when the Company transfers all significant risks and rewards of ownership to the
buyer, while the Com pany retains neither continuing managerial involvement nor effective control over the products sold.

Revenue is exclusive of excise duty and is reduced for estimated customer returns, commissions, rebates and discounts
and other similar allowances.

B.2.2 Other Operating Revenue

Other Operating Revenue comprises of income from ancillary activities incidental to the operations of the company and is
recognised when the right to receive the income is established as per the terms of contracts.

B.2.3 Dividend and Interest income

Dividend income is recognized when the right to receive payment has been established (provided that it is probable that the
economic benefits will flow to the Company and the revenue 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 (provided that it is probable that the economic benefits will flow to the Company and the revenue can be
measured reliably).

B.3 Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets
that necessarily take a substantial period of time to get ready for their intended use, are added to the cost of those assets,
until such time as the assets are substantially ready for their intended use. All other borrowing costs are recognised in profit
or loss in the period in which they are incurred.

B.4 Income Taxes

Income tax expense represents the sum of the tax currently payable and deferred tax. Current and deferred tax are
recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly
in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in
equity respectively.

Current tax:

Current tax is determined on taxable profits for the year chargeable to tax in accordance with the applicable tax rates and
the provisions of the Income Tax Act, 1961 including other applicable tax laws that have been enacted or substantively
enacted.

Provisions for current income taxes are presented in the balance sheet after off-setting advance taxes paid and TDS/TCS
receivables.

Minimum Alternate Tax (MAT) credit is recognized as an asset only when and to the extent there is convincing evidence that
the Company will pay normal income tax during the specified period. In the year in which the MAT credit becomes eligible to
be recognized as an asset in accordance with the recommendations contained in Guidance Note issued by the Institute of
Chartered Accountants of India. MAT Credit Entitlement, is classified as unused tax credits under deferred tax by way of a
credit to the statement of profit and loss.

Deferred tax:

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilised. Deferred tax asset is recognised for the carry forward of unused tax losses and unused tax
credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and

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unused tax credits can be utilised.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it
is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability
is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the
end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in
which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and
liabilities.

B.5 Property, Plant and Equipment
Cost:

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if
any.

The cost comprises the purchase price, borrowing cost if capitalization criteria are met and directly attributable cost of
bringing the asset to its working condition for its intended use. Any trade discounts and rebates are deducted in arriving at
the purchase price.

Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future
economic benefits associated with these will flow to the company and the cost of the item can be measured reliably.

All other expenses on existing fixed assets, including day-to-day repair and maintenance expenditure and cost of replacing
parts, are charged to the statement of profit and loss for the period during which such expenses are incurred.

Properties in the course of construction for production, supply or administrative purposes are carried at cost, less any
recognised impairment loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised in
accordance with the Company's accounting policy. Such properties are classified to the appropriate categories of property,
plant and equipment when completed and ready for intended use. Depreciation of these assets, on the same basis as other
property assets, commences when the assets are ready for their intended use.

Depreciation methods, estimated useful lives and residual value

Depreciation on property, plant and equipment is provided using the written down method based on the useful life of the
assets as estimated by the management and is charged to the Statement of Profit and Loss as per the requirements of
Schedule II of the Act. The estimate of the useful life of the assets has been assessed based on technical advice which
considered the nature of the asset, the usage of the asset, expected physical wear and tear, the operating conditions of the
asset, anticipated technological changes, manufacturers warranties and maintenance support, etc.

Depreciation on items of property, plant and equipment acquired / disposed off during the year is provided on pro-rata basis
with reference to the date of addition / disposal. Cost of lease-hold land is amortized equally over the period of lease.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

De-recognition:

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected
to arise from the continued use of the asset. Any gains or losses arising from derecognition of fixed assets are measured as
the difference between the net disposal proceeds and the carrying amount of the asset at the time of disposal and are
recognized in the statement of profit and loss.

B.6 Impairment Losses

At the end of each reporting period, the Company determines whether there is any indication that its assets (property, plant
and equipment, intangible assets and investments in equity instruments in subsidiaries carried at cost) have suffered an

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impairment loss with reference to their carrying amounts. If any indication of impairment exists, the recoverable amount
(i.e. higher of the fair value less costs of disposal and value in use) of such assets is estimated and impairment is
recognised, if the carrying amount exceeds the recoverable amount.

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 an impairment loss subsequently reverses, the carrying amount of the asset (or 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 profit or loss.

B.7 Inventories

Inventories are taken as verified, valued and certified by the management. Inventories are stated at lower of cost and net
realisable value.

Cost of inventories is determined as follows:

Shares - At lower of cost or net realizable value