1. Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standard
(Ind AS), as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013,
Companies (Indian Accounting Standards) Rules, 2015 and other relevant provisions of the act.

The financial statements have been prepared under the historical cost convention with the exception of certain assets
and liabilities that are required to be carried at fair value by Ind AS. Fair Value is the price that would be received
to sell an asset or paid to transfer of liabilities in an orderly transaction between market participants at the
measurement date.

Accounting policies are consistently applied except where a newly issued accounting standard is initially adopted or
a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

The Ind AS financial statements are presented in INR which is the Company's functional and presentation currency
and all values are rounded to the nearest lakhs, except when otherwise indicated. Accounting policies have been
consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy hitherto in use.

2. Use of estimates

The preparation of the Financial Statements in conformity with IND AS requires the management to make estimates,
judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting
policies and the reported amount of Assets and Liabilities and disclosure of contingent liabilities on the date of the
Financial Statements and reported amounts of revenues and expenses for the year.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised and future periods are affected.

Key sources of estimation of uncertainty at the date of the financial statements, which may cause a material
adjustment to the carrying amounts of assets and liabilities within the next financial year, is in respect of impairment
of investments, useful lives of property, plant and equipment, valuation of deferred tax assets, provisions and
contingent liabilities and fair value measurement of financial instruments have been discussed below. Key source of
estimation of uncertainty in respect of revenue recognition and employee benefits have been discussed in their
respective policies.

Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting period. This
reassessment may result in change in depreciation expense in future periods.

Valuation of deferred tax assets

The Company reviews the carrying amount of deferred tax assets at the end of each year.

3. Current and Non-current Classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An
asset is treated as current when it is:

- Expected to be realised or intended to be sold or consumed in normal operating cycle

- Held primarily for the purpose of trading

- Expected to be realised within twelve months after the reporting period, or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve

months after the reporting period

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for the purpose of trading

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period

The Company classifies all other liabilities as non-current.

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 realisation in cash and cash
equivalents. The Company has identified twelve months as its operating cycle.

4. Property, Plant and Equipment (PPE)

Property, plant and equipment are carried at the cost of acquisition or construction less accumulated depreciation.
Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as
intended by management.

Freehold land is carried at its historical cost. Historical cost includes expenditure that is directly attributable to the
acquisition of items.

Any subsequent costs are included in the assets carrying amount or recognized as a separate asset, as appropriate,
only when it is probable that future economic benefits associated with the item will flow to the company and the
cost of the item can be measured reliably. All other repairs and maintenance are recognized in profit or loss as
incurred.

The cost of property, plant and equipment comprises its purchase price net of any trade discounts and rebates, any
import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly
attributable expenditure on making the assets ready for its intended use, other incidental expenses and interest on
borrowings attributable to acquisition of qualifying fixed assets up to the date the assets is ready for its intended use.

5. Depreciation

Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual
value. Depreciation on tangible assets has been provided on the straight-line method as per the useful life prescribed
in Schedule II to the Companies Act, 2013. The assets residual values, useful life and method of depreciation are
reviewed and adjusted if appropriate, at the end of each reporting period.

6. Impairment of Non-Financial Assets

The management periodically assesses using external and internal sources, whether there is an indication that both
tangible and intangible asset may be impaired. An impairment loss is recognized wherever the carrying value of an
asset exceeds its recoverable amount. An impairment loss for an asset is reversed if, and only if, the reversal can be
related objectively to an event occurring after the impairment loss was recognized.

7. Investment in subsidiaries, associates and joint ventures

Investments in subsidiaries are accounted at cost in the financial statements.

8. Cash and Bank Balances

Cash and bank balances consist of:

(i) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprises of cash in hand and at bank, bank deposits and
also short term deposits with an original maturity of three months or less, which is subject to an
insignificant risk of change in value. These balances with banks are unrestricted for withdrawal and usage.

(ii) Other bank balances

These include balances and deposits with banks that are restricted for withdrawal and usage.

9. Inventories

Inventories are valued at cost or net realizable value, whichever is lower. Cost of inventories includes all the cost
that are incurred in bringing the inventories to their present condition and location. Net realizable value is the
estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated
cost necessary to make the sale.

10. Financial Instruments
Financial Asset Initial Recognition

Financial assets and financial liabilities are recognized in the company's statement of financial position when the
company becomes a party to the contractual provisions of the instrument. The company determines the classification
of its financial assets and liabilities at initial recognition.

Subsequent Measurement

The Subsequent measurement of financial assets depends on their classification which is as follows:

Financial Asset at Fair value through Profit or Loss

Financial assets at fair value through profit and loss include financial assets held for sale in the near term and those
designated upon initial recognition at fair value through profit or loss.

Financial Asset measured at Amortized Cost

Loans, receivables and cash are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market. Trade receivables do not carry any interest and are stated at their nominal value as
reduced by appropriate allowance for estimated irrecoverable amounts based on the ageing of the receivables balance
and historical experience. Individual trade receivables are written off when management deems them not to be
collectible.

Financial Asset at Fair value through OCI

All equity investments, except investments in subsidiaries falling within the scope of Ind AS 109, are measured at
fair value through Other Comprehensive Income (OCI). If the company decides to designate an equity instrument at
fair value through OCI, then all fair value changes on the instrument, excluding dividends, are recognized in the
OCI.

Financial Asset Derecognition

The company derecognizes a financial asset when the contractual rights to the cash flows from the assets expire or
it transfers the financial asset and substantially all the risks and rewards of ownership of the asset. Upon
derecognition of equity instruments designated at fair value through OCI, the associated fair value changes of that
equity instrument is transferred from OCI to Retained Earnings.

Financial Liabilities - Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at amortized cost, loans and
borrowings, or as payables, as appropriate.

Subsequent Measurement

The Subsequent measurement of financial liabilities depends on their classification which is as follows:

Interest bearing borrowings, trade payables and other payables issued by the company are subsequently measured at
amortized cost.

Measurement of Fair Values

Certain accounting policies and disclosures of the Company require the measurement of fair values, for both financial
and non-financial assets and liabilities. The Company has an established control framework with respect to the
measurement of fair values.

Trade Payables

These amounts represent liabilities for goods and services provided to the company prior to the end of financial year
which are unpaid. These amounts are secured and unsecured. Trade and other payables are presented as current
liabilities unless payment is not due within 12 months after the reporting period. Also, the segregation has been made
for the micro, small and medium enterprises creditors.

11. Fair V alue Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date under current market conditions.

Fair Values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation
techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or liability, the company uses observable market data as far as possible.
If the inputs used to measure the fair value of an asset or a liability fall into a different level of the fair value hierarchy,
then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the
lowest level input that is significant to the entire measurement.

12. Borrowings

Borrowings are recognized at fair value. They are classified as current liabilities unless the company has the right to
defer the settlement of the liability for atleast 12 months after the reporting period. Borrowings are removed from
the balance sheet when the obligations is discharged, cancelled or expired.