B. Material accounting policies information

i. Statement of compliance of Indian Accounting Standards (Ind AS)-

The financial statements have been prepared in accordance with Indian Accounting standards (“Ind AS”) as notified under the companies
(Indian Accounting Standards) Rules, 2015, read with section 133 of the Companies Act, 2013.

ii. Basis of Preparation

The financial statements have been prepared on accrual basis and under the historical cost convention except for certain financial
instruments which are measured at fair value at the end of each reporting period, as explained in the accounting policies mentioned below.

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set
out in Schedule III to the Companies Act, 2013. The Company has ascertained its operating cycle as 12 months for the purpose of
current and non-current classification of assets and liabilities.

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

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash equivalents.
Functional and presentation currency

These financial statements including notes thereon are presented in Indian Rupees (“Rupees” or “INR”), which is Company’s functional
and presentation currency. All amounts di sclosed in the F inancial Statements including notes thereon have been rounded off to the nearest
Rs. in Lakhs as per the requirement of Schedule III to the Act, unless stated otherwise.

iii. Use of Estimates, Judgments and Assumptions

The preparation of financial statements in accordance with Ind AS requires management to make judgments, estimates and assumptions
that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may
differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognized in the period in which the estimates are revised and in any future periods affected.

Significant areas of estimation, uncertainty and critical judgements in applying accounting policies that have significant effect on amount
recognized in the financial statements are:

a. Allowance for bad and doubtful trade receivable.

b. Recognition and measurement of provision and contingencies.

c. Depreciation/Amortisation and useful lives of Property, plant and equipment / Intangible Assets.

d. Recognition of deferred tax.

e. Income Taxes.

f. Measurement of defined benefit obligation.

g. Impairment of Non-financial assets and financial assets.

h. Fair value of financial instruments

iv. Revenue

(A) Recognition

The company recognised revenue i.e. account for a contract with a customer only when all of the following criteria are met:

a. the parties to the contract have approved the contract (in writing, orally or in accordance with other customary business
practices) and are committed to perform their respective obligations;

b. the entity can identify each party’s rights regarding the goods or services to be transferred;

c. the entity can identify the payment terms for the goods or services to be transferred;

d. the contract has commercial substance (i.e. the risk, timing or amount of the entity’s future cash flows is expected to change as
a result of the contract); and

e. it is probable that the entity will collect the consideration to which it will be entitled in exchange for the goods or services that will
be transferred to the customer. In evaluating whether collectability of an amount of consideration is probable, an entity shall
consider only the customer’s ability and intention to pay that amount of consideration when it is due. The amount of consideration
to which the entity will be entitled may be less than the price stated in the contract if the consideration is variable because the
entity may offer the customer a price concession.

(B) Measurement

When (or as) a performance obligation is satisfied, company recognise as revenue the amount of the transaction price (which
excludes estimates of variable consideration that are constrained) that is allocated to that performance obligation.

The transaction price is the amount that the entity expects to be entitled to in exchange for transferring promised goods or services
to a customer, excluding amounts collected on behalf of third parties (for example, some taxes on sales). The consideration
promised may include fixed amounts, variable amounts, or both.

a. Sale of goods

Revenue is recognised upon transfer of control of promised goods to customers in an amount that reflects the consideration which
the Company expects to receive in exchange for those goods. Revenue from the sale of goods is recognised at the point in time when
control is transferred to the customer which is usually on dispatch / delivery of goods, based on contracts with the customers.
Revenue is measured based on the transaction price, which is the consideration, adjusted for volume discounts, price concessions,
incentives, and returns, if any, as specified in the contracts with the customers. Revenue excludes taxes collected from customers
on behalf of the government. Due to the short nature of credit period given to customers, there is no financing component in the
contract.

b. Sale of Services

Revenue from services rendered is recognised as the services are rendered and is booked based on agreements/arrangements with the
concerned parties.

c. Interest and Dividend

Interest income is recognized on accrual basis using the effective interest method. Dividend income is recognised in profit or loss
on the date on which the company’s right to receive payment is established.
v Inventories

Inventories are valued at cost or net realizable value whichever is lower. The cost of inventories comprises all costs of purchase including
duties and taxes (other than those subsequently recoverable from the taxing authorities), conversion cost and other costs incurred in
bringing the inventories to their present location and condition.

The cost formulas used are First-in- First Out (‘FIFO’) method in case of Raw Material, Ancillary Raw Material and Consumable
Spares.

vi. Property, Plant and Equipment

a. Recognition and measurement

The cost of an item of property, plant and equipment is recognized as an asset if, and only if:

(a) it is probable that future economic benefits associated with the item will flow to the enterprise; and

(b) the cost of the item can be measured reliably.

Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment
losses (if any). Freehold land is measured at costs.

The 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, acquisition or construction cost including borrowing costs, any costs
directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner
intended by management, initial estimate of the 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 separate
items (major components) of property, plant and equipment.

Any gain or loss on disposal of an item of property, plant and equipment is recognised in statement of profit or loss.

b. Subsequent expenditure

Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will
flow to the company and costs of item can be measured reliably. The company recognizes in the carrying amount of an item of
Property, Plant & Equipment, and the cost of replacing a part of an item, when that cost is incurred provided the recognition
criteria as mentioned above are met. The carrying amount of those parts that are replaced is derecognized in accordance with the
de-recognition provisions mentioned in the Accounting Standards. The cost of day to day servicing of an item of Property, Plant
& Equipment is recognized in the Statement of Profit or Loss as and when incurred.

c. Depreciation

Depreciation on property, plant and equipment is provided using Straight Line method on depreciable amount as per the useful
life of the assets in the manner as specified in Schedule II to the Companies Act, 2013. The estimated useful life of assets and
estimated residual value is taken as prescribed under Schedule II to the Companies Act, 2013.

Depreciation on additions during the year is provided on pro rata basis with reference to date of addition/installation. Depreciation
on assets disposed/discarded is charged up to the date on which such asset is sold.

The estimated useful lives, residual value and depreciation method are reviewed at the end of each balance sheet date, any changes
therein are considered as changes in estimate and accordingly accounted for prospectively.
d Capital Work in Progress

Assets under erection/installation are shown as “Capital work in progress”, Expenditure during construction period are shown as
“pre-operative expenses” to be capitalized on erection/installations of the assets.

vii. Employee benefits

a. 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.

b. Defined benefit plans

The liability for gratuity a defined benefit plan is determined annually by a qualified actuary using the projected unit credit
method.

The company pays gratuity to the employees, who have completed five years of service with company at the time when the
employee leaves the company, as per the payment of gratuity act 1972.

Remeasurement of the net defined benefit plans in respect of post-employment are charged to other comprehensive income. Net
interest expense and other expenses related to defined benefit plans are recognised in statement of profit or loss.

c. Other 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 services are recognized as a liability at the present value of obligation as at the Balance sheet date determined
based on an actuarial valuation.

d Defined Contribution Plan

The company’s payments to the defined contribution plans are recognized as expenses during the period in which the employees
perform the services that payment covers. Defined contribution plan comprise of contribution to the employees’ provident fund
with government, Employees’ State Insurance and Pension Scheme.

viii. Income Tax

Income tax expense comprises current and deferred tax. It is recognised in profit or loss except to the extent that it relates to other
comprehensive income or a business combination, or items recognised directly in equity.

a. Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the
tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the
reporting date.

Current tax assets and liabilities are offset only if, the Company:

a) has a legally enforceable right to set off the recognised amounts; and

b) intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

b. 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.

The carrying amount of deferred tax assets and liabilities are reviewed at the end of each reporting period.

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.

Deferred tax assets and liabilities are offset only if:

a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and

b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the
same taxable entity.

ix. Foreign currency transactions and translations

Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the
reporting date. Differences arising on settlement of monetary items are recognised in statement of profit or loss except to the extent of
exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings that are directly attributable
to the acquisition or construction of qualifying assets which are capitalized as cost of assets.

Non-monetary items that are measured based on historical cost in a foreign currency are recorded using the exchange rates at the date of
the transaction. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional
currency at the exchange rate when the fair value was determined. Exchange differences arising out of these transactions are generally
recognised in statement of profit or loss.

x. Borrowing cost

Borrowing costs that are directly attributable to the acquisition, construction or production of qualifying asset are capitalised as part of
the cost of that asset till the date it is ready for its intended use or sale. Qualifying asset are the assets that necessarily takes a substantial
period of time to get ready for its intended use. All other borrowing costs are charged to the statement of profit or loss in the period in
which they are incurred.

Borrowing cost consist of interest and amortization of ancillary cost incurred in connection with the arrangement of borrowed funds.
Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

xi. Cash and Cash Equivalent

Cash and cash equivalent includes the cash and Cheques in hand, bank balances, demand deposits with bank and other short term, highly
liquid investments with original maturity of three months or less that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of changes in value.

Bank overdrafts are shown within borrowings in current liabilities in the balance sheet and forms part of financing activities in the cash
flow statement. Book overdraft are shown within other financial liabilities in the balance sheet and forms part of operating activities in
the cash flow statement.

xii. Cash Flow Statement

Cash flows are reported using indirect method, whereby profit/ (loss) before tax is adjusted for the effect of transactions of non-cash
nature and any deferrals or accruals of past or future cash receipts or payments and items of income or expenses associated with investing
or financing cash flow. The cash flow from operating, investing and financing activities of the company is segregated based on the
available information.