2 Significant accounting policies
The accounting policies set out below have been applied consistently to the periods presented in these standalone financial
statements.
2.1 Basis of preparation of standalone financial statements
The standalone financial statements have been prepared and presented in accordance with the generally accepted accounting
principles in India ("Indian GAAP”) The standalone financial statements have been prepared to comply in all material respects
with the Accounting Standards (“AS”) notified under Section 133 of the Companies Act, 2013 and the other relevant provisions
ol Companies Act, 2013 as applicable. The standalone financial statements have been prepared on accrual basis under the
historical cost convention.
Ail assets and liabilities have been classified into current or non-current as per the normal operating cycle of the Company and
uihcr criteria as set out tn Schedule 111 to the Companies Act, 2013. Based on the nature of the services and the time between the
acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating
cvclc as twelve months for the purpose of current and non-current classification of assets and liabilities
1 he Board, duly taking into account all the relevant disclosures made, lias approved these financial statements in its meeting held
on 25th May 2024.
The financial statements have been prepared on a going concern basis.
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2.2 Use of estimates
The preparation of standalone financial statements in conformity with GAAP requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities, the disclosure ol contingent liabilities on the date of the
standalone financial statements and reported amounts of income and expenses during the period Actual figures may differ from
these estimates Any revision to accounting estimates is recognized prospectively in current and future periods
2.3 Cm rent non current classification
All asset i and liabilities aic class lied into current and non-current
Assets
An asset is classified as current when n satisfies any of the following criteria
a n is expected to he realised in, or is intended for sale or consumption m. the company’s normal operating cycle,
b. it is held primarily for the purpose of being traded,
c it is expected to be realised within 12 months after the reporting date; or
d. it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least !2 months after
Current assets include the current portion of non-current assets Ali other assets are classified as non-current.
Liabilities
A liability is classified as current when it satisfies any of the following criteria
a it is expected to be settled in the company’s normal operating cycle,
b it is held primarily for the purpose of being traded.
e. n is due to be settled within 12 months after the reporting date; or
J ihe company docs not have an unconditional right to defer settlement of the liability for at least 12 months after the reporting
date ! erm.s ol a liability that could, at the option oi the counterparty, result m its settlement bv the issue of equity instruments do
not affect its classification
Cwiwt liabilities include current portion of non-current liabilities. All other liabilities are classified as non-current
Opcriditir c ‘ e is the nine between the acquisition of assets for processing and their realisation in cash or cash equivalents.
2.4 Properly, plant and equipment and depreciation
: he cost ot property, plant and equipment includes freight, duties and taxes and other incidental expenses related to the
acquisition, bul exclude duties and taxes that arc recoverable subsequently from tax authorities. Borrowing costs directly
attributable to acquisition oi those property, plant and equipment which necessarily take a substantial period of time to get ready
lor their intended use arc capitalized. Depreciation is provided on written down valoe method over the useful Ufc as prescribed
under Part C oi Schedule II of the Companies Act. 2013, Pursuant to the above, the useful life of the assets are as below:
Leasehold improvements are amortised using straight line method over the lease period
Advances paid towards acquisition of property, plant and equipment and the cost of assets not ready to be put to use before the
year end are disclosed under long-term loans and advances, and capital work in progress respectively.
2.5 Intangible assets amt amortisation
Intangible lived assets are recorded ai the consideration paid lor acquisition including any import duties and other taxes (other
!hai! those subsequently recoverable hv the enterprise from the taxing authorities), and any directly attributable expenditure in
making the asset read' lor its intended use Intangible assets comprise primarily of software licenses that are amortized over their
estimated useful life of 3 years.
2.6 Impairment
I he Company assesses ai each balance sheet whether there is an indication that an asset may be impaired. If any such condition
exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable
amount ol the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to
its recoverable amount. I he reduction is treated as an impairment loss and is recognised in the statement of profit and loss . Ifat
the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount
IS reassessed and the asset is reflected at the recoverable amount subject to maximum of depreciated historical cost
2.7 Inventories
Inventories which comprise raw materials, work tn-progress. finished goods and stock-in-trade are carried at the lower of cost
and net realisable value The comparison or cost and net realizable value is made on an item by item basis. Cost of inventories
comprises ol purchase costs, costs of conversion, and other costs incurred in bringing the inventories to their present condition
and location In determining the cost, specific identification method is used,
2.8 Income from operations and other income
Revenue from sale of goods including shipping charges is recognised on delivery of goods to customers, which generally
coincides with the transfer of all significant risks and rewards of ownership to the buyer. Sale value of goods is exclusive of sales
tax, returns, and inclusive of price adjustments and quantity discounts.
Dividend income is recognized when the shareholders' right to receive payment is established by the balance sheet date.
Interest income is recognized on time proportion basis
2.9 Investments
Investments ..re either classified as current or long-term based on the management's intention Current investments are earned at
me lower oi cost and lair value In case of investments in mutual funds, the net asset value of units declared by the mutual funds
is considered as the lair value. I.ong-tcrm investments arc carried at cost and provisions arc recorded to recognize any decline,
other than temporary, in the carrying value ol each investment
2.10 Foreign currency transactions
foreign cutTcncy transactions are recorded at the exchange rates prevailing on the day of the respective transactions. Monetary
assets and liabilities denominated in foreign currencies are translated at the exchange rate on the balance sheet date. Exchange
differences arising on foreign currency transactions during the year and oil restatement of monetary assets and liabilities are
recognized in the statement of profit and loss of the year.
Integral foicign operations are those which cany on their business as if they were an extension of the Companv’s operations.
I he financial statements of an integral foreign operation are translated into Indian rupees as If the transactions of the foreign
operation were those of the Company itself
2.1! Earnings per .share
Biisic earnings per share amounts are computed by dividing net profit or loss for the year attributable to equity shareholders by
the weighted average number of shares outstanding during the year.
hoi the purpose of calculating diluted earnings per share, net profit after tax attributable to the equity shareholders for the year
and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity
shares I lie dilutive potential equity shares are deemed converted as of the beginning of the period, unless they have been issued
at a later date lhe diluted potential equity shares have been adjusted lor the proceeds receivable had the shares been actually
issued at fair value (i.e. the average market value of the outstanding shares).
hi computing diluted earnings per share, only potential equity shares that are dilutive and that reduce profit / loss per share are
included.
2.12 Leases
leases under which the Company assumes substantially all the risks and rewards of ownership are classified as finance leases
Such assets acquired are capitalised at the fair value of the asset or present value of the minimum lease payments at the inception
ol the tease, whichever is lower Leases where the lessor effectively retains substantially all the risks and benefits of ownership
ot the leased items are classified as operating leases. Operating lease payments are recognised as an expense in the statement of
proln and loss on a straight line basis over the period of the lease
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2.13 Kmplovee benefits
Short-term employee benefits
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l*ost-employment benefits
Defined eontributinn plan:
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Defined benefit plan:
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2.14 Taxation
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