Basis of preparation:

The financial statements of the Company have been prepared in accordance with generally accepted accounting
principles in India (Indian GAAP). These financial statements have been prepared to comply in all material respects
with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2006, (as amended) and the
relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost
convention on an accrual basis and going concern basis. The accounting policies have been consistently applied by the
company are consistent with those used in the previous year.

Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting 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.

1. Tangible Fixed Assets:

• Fixed assets are stated at cost less accumulated depreciation and impairment losses if any. Cost comprises
the purchase price 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.

• Borrowing costs relating to acquisition of tangible assets which takes substantial period of time to get ready
for its intended use are also included to the extent they relate to the period till such assets are ready to be
put to use. Assets under installation or under construction as at the Balance Sheet date are shown as Capital
Work in Progress.

2. Intangible Fixed Assets:

• Intangible assets are recognized when it is probable that the future economic benefits that are attributable
to the asset will flow to the enterprise and the cost of the asset can be measured reliably

3. Impairment of Assets:

• The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment
based on internal / external factors. An impairment loss is recognized wherever the carrying amount of an
asset exceeds its recoverable amount. The recoverable amount is the greater of the asset's net selling price
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
risks specific to the asset. Net selling price is the amount obtainable from the sale of an asset in an arm's
length transaction between knowledgeable, willing parties, less the costs of disposal.

• After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining
useful life.

4. Depreciation and Amortization:

• Depreciation on the fixed assets is provided under WDV method as per the rates prescribed in Schedule XIV
to the Companies Act, 2013 or at rates permissible under applicable local laws so as to charge off the cost of
assets to the Statement of Profit and Loss over their estimated useful life, except on the following categories
of assets:

• Leasehold land and leasehold improvements are amortized over the primary period of lease.

• Intangible assets are amortized over their useful life of 5 years.

5. Investments:

• Investments, which are readily realizable and intended to be held for not more than one year from the date on
which such investments are made, are classified as current investments. All other investments are classified
as long-term investments.

• On initial recognition, all investments are measured at cost. The cost comprises the purchase price and
directly attributable acquisition charges such as brokerage, fees and duties. If an investment is acquired, or
partly acquired by the issue of shares or the other securities, the acquisition cost is the fair value of securities
issued. If an investment is acquired in exchange for another asset, the acquisition is determined by reference
to the fair value of the asset given up or by reference to the fair value of the investment acquired, whichever
is more clearly evident.

• Current investments are carried at the lower of cost and fair value determined on an individual investment
basis. Long- term investments are carried at cost. However, provision for diminution in value is made to
recognize a decline other than temporary in the value of the long term investments.

• On disposal of an investment, the difference between its carrying amount and net disposal proceeds is
charged or credited to the statement of profit and loss.

6. Employee Benefits:

• Employee benefits include provident fund, employee state insurance scheme, gratuity fund and Compensated
absences.

• Gratuity provision would be made at the time of payment.

7. Inventories:

• Stock in trade, stores and spares are valued at the lower of the cost or net realizable value. Net realizable value is

the estimated selling price in the ordinary course of business.

8. Borrowing Costs:

• Borrowing costs directly attributable to the acquisition, construction or production of an asset that
necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of
the cost of the respective asset. All other borrowing costs are expensed in the period they occur. Borrowing
costs consist of interest, exchange differences arising from foreign currency borrowings to the extent they
are regarded as an adjustment to the interest cost and other costs that an entity incurs in connection with
the borrowing of funds.

9. Revenue Recognition:

• Revenue is recognized to the extent that it is probable that the economic benefits with flow to the company
and the revenue can be reliably measured , regardless of when the payment is being made. Revenue is
measured at the fair value of the consideration received or receivable, taking into account contractually
defined terms of payment and excluding taxes or duties collected on behalf of the government.

The specific recognition criteria described below must also be met before revenue is recognised.

• Revenue from the sale of goods is recognised when the significant risks and reward of ownership of the goods
have passed to the buyer, usually on delivery of the goods. Revenue from the sale of goods is measured at
the fair value of the consideration received or receivable , net of returns and allowances, trade discounts and
volume rebates.

Other income

• Interest income is recognized on time proportion basis taking into account the amount outstanding and the
rate applicable.

• Dividend income is recognized when right to receive is established.

10. Taxation:

Tax expense comprises Current and Deferred Tax. Current income tax expense comprises taxes on income
from operations in India and in foreign jurisdictions. Income tax payable in India is determined in accordance
with the provisions of the Income Tax Act, 1961 and tax expense relating to overseas operations is determined
in accordance with tax laws applicable in countries where such operations are domiciled.

• Deferred tax expense or benefit is recognized on timing differences being the difference between taxable
incomes and accounting income that originate in one period and are capable of reversal in one or more
subsequent periods.

• Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or
substantively enacted by the balance sheet date. Deferred income tax relating to items recognized directly
in equity is recognized in equity and not in the statement of profit and loss. Deferred tax assets and deferred
tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current tax
liabilities and the deferred tax assets and deferred tax liabilities relate to the taxes on income levied by the
same governing taxation laws

• Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are recognized
only to the extent that there is reasonable certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realized. In situations where the Company has unabsorbed
depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty
supported by convincing evidence that they can be realized against future taxable profits. In the situations
where the Company is entitled to a tax holiday under the Income realized against future taxable profits. In
the situations where the Company is entitled to a tax holiday under the Income Tax Act, 1961 enacted in India,
no deferred tax (asset or liability) is recognized in respect of timing differences which reverse during the tax
holiday period, to the extent the Company's gross total income is subject to the deduction during the tax
holiday period. Deferred tax in respect of timing differences which reverse after the tax holiday period is
recognized in the year in which the timing differences originate.

• At each balance sheet date the Company re-assesses recognized and unrecognized deferred tax assets.
The Company writes-down the carrying amount of a deferred tax asset to the extent that it is no longer
reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be
available against which the deferred tax asset can be realized. Any such write-down is reversed to the extent
that it becomes reasonably certain or virtually certain, as the case may be, that sufficient future taxable
income will be available. The Company recognizes unrecognized deferred tax assets to the extent that it has
become reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will
be available against which such deferred tax assets can be realized.

11. Earnings per share:

• Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.

• For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the year are adjusted
for the effects of all dilutive potential equity shares.