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RELIC TECHNOLOGIES LTD.

17 October 2025 | 12:00

Industry >> Finance & Investments

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ISIN No INE452B01013 BSE Code / NSE Code 511712 / RELICTEC Book Value (Rs.) 14.24 Face Value 10.00
Bookclosure 30/09/2024 52Week High 94 EPS 0.00 P/E 0.00
Market Cap. 27.50 Cr. 52Week Low 12 P/BV / Div Yield (%) 5.36 / 0.00 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2025-03 

NOTE NO 2. MATERIAL ACCOUNTING POLICIES:

Property, plant and equipment & capital work-in-progress:

Recognition and measurement:

Property, Plant and Equipment (PPE) are tangible items that are held for use in the production or supply of goods
and services, rental to others or for administration purposes and are expected to be used during more than one
period.

The cost of an item of Property, Plant and Equipment (including related subsequent costs) is being recognised as
an asset if and only if, It is probable that future economic benefit associated with item will flow to the Company
and cost of the item can be measured reliably. Freehold lands are at cost.

Other items of property, plant and equipment are stated at original cost net of tax/ duty credit availed, less
accumulated depreciation and accumulated impairment losses. The cost of an asset includes the purchase cost
of material, including import duties and non-refundable taxes, and directly attributable costs of bringing an asset
to the location and condition of its intended use and trial run expenditure (Net of amount realised on goods
produced during trial run). For this purpose, cost includes carrying value as Deemed cost on the date of transition.

Interest on borrowings used to finance the construction of qualifying assets are capitalised as part of the cost of
the asset until such time that the asset is ready for its intended use.

Items of spare parts, stand by equipment’s and servicing equipment which meet the definition of Property, Plant
and Equipment are capitalised. Other spare parts are carried as inventory and recognised in statement of Profit
& Loss on consumption. When parts of an item of PPE have different useful lives, they are accounted for as
separate components.

The carrying amount of an item of Property, Plant and Equipment shall be derecognised on disposal or when no
future economic benefits are expected from its use or disposal. When significant part of the property, plant and
equipment are required to be replaced at intervals, the company derecognized the replaced part and recognized
the new parts with its own associated useful life and depreciated it accordingly. Likewise when a major inspection
is performed, its cost is recognized in the carrying amount of the plant and equipment if the recognition criteria are
satisfied. All other repair and maintenance cost are recognized in the statement of the profit and loss as incurred.
The present value of the expected cost for the decommissioning of the asset after its use is included in the cost
of the respective asset if the recognition criteria for a provision are met.

The cost and related accumulated depreciation are eliminated from the financial statement upon sale or retirement
of the asset and resultant gain or losses are recognized in the Statement of Profit and Loss.

Assets identified and technically evaluated as obsolete are retired from active use and held for disposal are stated
at the lower of its carrying amount and fair value less cost to sell.

Capital work-in-progress, representing expenditure incurred in respect of assets under development and not
ready for their intended use, are carried at cost. Cost includes related acquisition expenses, construction cost,
related borrowing cost and other direct expenditure, and trial run expenditure.

Subsequent Expenditure

Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the
expenditure will flow to the Company.

Investment properties:

Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition,
investment properties are stated at cost less accumulated depreciation and accumulated impairment loss, if
any. The cost includes the cost of replacing parts and borrowing costs for long-term construction projects if the
recognition criteria are met. When significant parts of the investment property are required to be replaced at
intervals, the Company depreciates them separately based on their specific useful lives. All other repair and
maintenance costs are recognized in the statement of profit & loss as & when incurred.

Though the Company measures investment property using cost based measurement, the fair value of investment
property is disclosed in the notes. Fair values are determined based on an annual evaluation performed by an
accredited external independent valuers.

Investment properties are derecognized either when they have been disposed of or when they are permanently
withdrawn from use and no future economic benefit is expected from their disposal. The difference between the
net disposal proceeds and the carrying amount of the asset is recognized in statement of profit & loss in the
period of de-recognition.

Transfers are made to (or from) investment properties only when there is a change in use. Transfers between
investment property, owner-occupied property and inventories do not change the carrying amount of the property
transferred and they do not change the cost of that property for measurement or disclosure purposes.

Intangible assets:

Intangible assets are recognized when it is probable that the future benefits that are attributable to the assets will
flow to the Company and the cost of the assets can be measured reliably.

Research costs are expensed as incurred. Development expenditures on an individual project are recognized as
an intangible asset when the company can demonstrate: 1

• Its intention to complete and its ability and intention to use or sale the assets.

• How the asset will generate future economic benefits.

• The availability of resources to complete the asset.

• The ability to measure reliably the expenditure during development.

During the period of development, the asset is tested for impairment annually.

Intangible assets acquired separately including patents and licenses, are measured on initial recognition at cost/
deemed cost. Following initial recognition, intangible assets are carried at cost less accumulated amortization
and accumulated impairment losses, if any. Amortisation of the assets begins when the asset is available for use.

Depreciation and amortization:

The classification of plant and machinery into continuous and non-continuous process is done as per their use
and depreciation thereon is provided accordingly. Depreciation commences when the assets are available for
their intended use. Depreciation is calculated using the straight-line method to allocate their cost, net of their
residual values, over their estimated useful lives.

The Company has used the following useful lives to provide depreciation on its tangible assets:

The management estimates the useful life for fixed assets as follows:

Asset1 Useful life (years)

Computer & UPS 3 Years

Furniture & Fixtures 5 Years

Office Equipment’s 5 Years

(1) Based on technical evaluation, the management believes that useful life as given above represents the period
over which management expects to use these assets. Hence, the useful life for these assets is different from the
useful life as prescribed under Part C of Schedule II of the Companies Act, 2013.

All assets costing Rs. 5,000 or below are depreciated in one-year period.

Intangible assets are amortized on a straight-line basis over the estimated useful economic life of the assets. The
Company uses a rebuttable presumption that the useful life of intangible assets is ten years from the date when
the assets is available for use. The estimated useful lives, residual values and depreciation method are reviewed
at the end of each financial year and are given effect to wherever appropriate.

Cash and cash equivalents:

Cash and cash equivalents includes cash on hand and at bank, other short-term highly liquid investments with
original maturities of three months or less that are readily convertible to a known amount of cash and are subject
to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consists of cash and short term
deposits, as defined above, net of outstanding bank overdraft as they being considered as integral part of the
Company’s cash management.

Earnings per share:

Basic earnings per share are calculated by dividing the net profit or loss (before other comprehensive income)
for the period attributable to equity shareholders by the weighted average number of equity shares outstanding
during the year. Diluted earnings per share are calculated by dividing the profit/(loss) for the year (before other
comprehensive income), adjusting the after tax effect of interest and other financing costs associated with dilutive
potential equity shares, attributable to the equity shareholders, by the weighted average number of equity shares
considered for deriving basic earnings per share and also the weighted average number of equity shares which
could be issued on the conversion of all dilutive potential equity shares.

1

The technical feasibility of completing the intangible assets so that the asset will be available for use or sale.