1. DISCLOSURE OF ACCOUNTING POLICIES

1.1. CORPORATE INFORMATION:

BLOOM DEKOR LIMITED (under CIRP), having CIN: L20220GJ1992PLC017341 is a public company domiciled in
India and incorporated under the provision of Companies Act, 1956. Its shares are listed on Bombay Stock Exchange
in India. The Company is engaged in manufacturing and selling of laminated sheets and Doors. The company caters
to both domestic and international markets.

As per the Order of Hon'ble National Company Law Tribunal (NCLT) Ahmedabad Bench dated 11th October, 2023
in CP(IB)/127/AHM/2020 which has admitted the Corporate Debtor ('the Company') into Corporate Insolvency
Resolution Process (CIRP) under section 9(5)(i) of the Insolvency and Bankruptcy Code and appointed Ms. Vineeta
Maheshwari Insolvency Resolution Professional (IRP) and thereafter she was confirmed as Resolution Professional
in the meeting of Committee of Creditors. The Powers of the Board of Directors of the company are suspended and
officers and managers of the Corporate Debtors ("the Company") shall report to the Insolvency Resolution
Professional (IRP) as per the provisions of the Insolvency and Bankruptcy Code, 2016. Accordingly, the Insolvency
Resolution Professional (IRP) is running the CIRP and is looking after the affairs of the Company along with its
management.

1.2. BASIS OF PREPARATION OF FINANCIAL STATEMENT:

1.2.1. Basis of preparation and compliance with Ind AS

These Standalone Financial Statements are prepared in accordance with Indian Accounting Standard (Ind AS)
under historical cost convention on accrual basis. The Ind AS are prescribed under section 133 of the Act, read with
Rule 3 of the Companies (Indian Accounting Standard) Rules 2015 & relevant amendment rules issued thereafter.

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

1.2.2. Basis of measurement

The Financial Statements have been prepared on the historical cost convention on accrual basis except for certain
financial instruments that are measured at fair values at the end of each reporting period, as explained in the
accounting policies below.

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and
cash equivalents. The Company has identified twelve months as its operating cycle. Accordingly, all assets and
liabilities have been classified as current or non-current as per the Company's operating cycle and other criteria set
out in Ind AS 1 - 'Presentation of Financial Statements' and Schedule III to the Companies Act, 2013.

Accounting policies have been consistently applied consistently to all the periods presented in the financial
statements.

The financial statements are presented in Indian Rupees in lakhs ('INR Rs in lakhs). Where changes are made in
presentation, the comparative figures of the previous year are regrouped and re-arranged accordingly.

1.3. 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 year end. Although these estimates are based upon management's best knowledge of current events
and actions, actual results could differ from these estimates.

1.4. RECENT ACCOUNTING PRONOUNCEMENTS:

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing Standards. There
is no such notification which have been applicable from April 1st, 2024.

MATERIAL ACCOUNTING POLICIES:

The Company has applied following accounting policies to all periods presented in the Ind AS Financial
Statement.

1.5. PROPERTY, PLANT AND EQUIPMENT:

i) Property, Plant and Equipment are stated at original cost (net of tax/ duty credit availed) less accumulated
depreciation and impairment losses. Cost includes cost of acquisition, construction and installation, taxes, duties,
freight, other incidental expenses related to the acquisition, and pre-operative expenses including attributable
borrowing costs incurred during pre-operational period.

ii) Subsequent costs are included in the asset's 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. The carrying amount of any component as a separate as-set is
derecognized when replaced. All other repairs and maintenance are charged to profit and loss during the
reporting period in which they are incurred.

iii) Assets which are not ready for their intended use on reporting date are carried as capital work-in-progress at
cost, comprising direct cost and related incidental expenses.

iv) Property, Plant and Equipment are depreciated and/ or amortized on as per the Straight-line method on the basis
of their useful lives as notified in Schedule II to the Companies Act, 2013. The assets' residual values and useful
lives are reviewed, and adjusted if ap-propriate, at the end of each reporting period.

v) Depreciation in respect of additions to assets has been charged on pro rata basis with reference to the period
when the assets are ready for use.

vi) An asset's carrying amount is written down immediately on discontinuation to its recoverable amount if the
asset's carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are
determined by comparing proceeds with carrying amount. These are included in Profit/ Loss on Sale and
Discard of Property, Plant and Equipment.

vii) Useful lives of the Property, Plant and Equipment as notified in Schedule II to the Companies Act, 2013 are as
follows:

viii) At each balance sheet date, the Company reviews the carrying amount of property, plant and equipment to
determine whether there is any indication of impairment loss. If any such indication exists, the recoverable
amount of the assets is estimated in order to determine the extent of impairment loss. The recoverable amount is
higher of the net selling price and the value in use, determined by discounting the estimated future cash flows
expected from the continuing use of the asset to their present value.

ix) Cost is reduced by accumulated depreciation and impairment and amount representing assets discarded or held
for disposal.

1.6. INTANGIBLE ASSETS:

i) Intangible assets acquired by payment e.g. Computer Software are disclosed at cost less amortization on a
straight-line basis over its estimated useful life.

ii) Intangible assets are carried at cost, net of accumulated amortization and impairment loss, if any.

iii) Intangible assets are amortized on straight-line method as follows:

Computer Software - 5 years

iv) At each balance sheet date, the Company reviews the carrying amount of intangible assets to determine whether
there is any indication of impairment loss. If any such indication exists, the recover-able amount of the assets is
estimated in order to determine the ex-tent of impairment loss. The recoverable amount is higher of the net selling
price and the value in use, determined by discounting the estimated future cash flows expected from the
continuing use of the asset to their present value.

1.7. REVENUE RECOGNITION:

i) Revenue comprises of all economic benefits that arise in the ordinary course of activities of the Company which
result in increase in Equity, other than increases relating to contributions from equity participants. Revenue is
recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue
can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

ii) Sale of Goods: Revenue from sales of goods is recognized on transfer of significant risks and rewards of
ownership to the cus-tomers. Revenue shown in the Statement of Profit and Loss ex-cludes, returns, trade
discounts, cash discounts, Goods and Ser-vice tax.

iii) Services: Revenue from Services are recognized as and when the services are rendered.

iv) Interest: Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective
interest rate applica-ble.

v) Export Benefits are accounted on accrual basis.

1.8. EMPLOYEE BENEFITS:

i) Short-term employee benefits are recognized as an expense at the undiscounted amount in the Statement of Profit
and Loss of the year in which the related service is rendered.

ii) Post-Employment and Retirement benefits in the form of Gratuity are considered as defined benefit obligations
and is provided for on the basis of third-party actuarial valuation, using the projected unit credit method, as at
the date of the Balance Sheet. Every Employee who has completed five years or more of service is entitled to
Gratuity on terms not less favorable than the provisions of The Payment of Gratuity Act, 1972.

iii) The present value of the defined benefit obligation is determined by discounting the estimated future cash
outflows by reference to market yields at the end of reporting period on government bonds that have terms
approximating to the terms of the related obligation.

iv) Employee benefits in the form of Provident Fund is considered as defined contribution plan and the contributions
to Employees' Prov-ident Fund Organization established under The Employees' Provi-dent Fund and
Miscellaneous Provisions Act 1952 is charged to the Statement of Profit and Loss of the year when the
contributions to the respective funds are due. The Company pays provident fund contributions to publicly
administered provident funds as per local regulations. The Company has no further payment obligations once
the contributions have been paid.

1.9. VALUATION OF INVENTORIES:

i) The cost of inventories has been computed to include all cost of purchases, cost of conversion and other related
costs incurred in bringing the inventories to their present location and condition. The costs of Raw Materials,
Stores and spare parts etc., consumed consist of purchase price including duties and taxes (other than those
subsequently recoverable by the enterprise from the taxing authorities), freight inwards and other expenditure
directly attributable to the procurement.

ii) Stock of Raw Materials are valued at cost and of those in transit and at port related to these items are valued at
cost to date. Goods and materials in transit are valued at actual cost incurred up to the date of balance sheet.
Material and supplies held for use in the production of inventories are not written down if the finished products
in which they will be used are expected to be sold at or above cost.

iii) Stock of Stores and spare parts, Packing Material, Power & Fuel and Folders are valued at cost; and of those in
transits and at port related to these items are valued at cost.

iv) Goods-in-process is valued at lower of cost or net realizable value.

v) Stock of Finished goods is valued at lower of cost or net realizable value.

vi) Stock-in-trade is valued at lower of cost or net realizable value.

1.10. CASH FLOW STATEMENT:

Cash flows are reported using indirect method, whereby profit before tax is adjusted for the effects of transactions

of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flow from

regular revenue generating, financing and investing activities of the Company is segregated.

Cash and cash equivalents in the balance sheet comprise cash at bank, cash/Cheques in hand and short-term

investments with an original maturity of three months or less.

1.11. FINANCIAL ASSETS:

i) The Company classifies its financial assets as those to be measured subsequently at fair value (either through
other comprehensive income, or through profit or loss), and those to be measured at amortized cost.

ii) Trade receivables represent receivables for goods sold by the Company up to the end of the financial year. The
amounts are generally unsecured and are usually received as per the terms of payment agreed with the
customers. The amounts are presented as current assets where receivable is due within12 months from the
reporting date.

iii) Trade receivables are impaired using the lifetime expected credit loss model under simplified approach. The
Company uses a matrix to determine the impairment loss allowance based on its historically observed default
rates over expected life of trade receivables and is adjusted for forward looking estimates. At every reporting
date, the impairment loss allowance is determined and updated and the same is deducted from Trade
Receivables with corresponding charge/credit to Profit and Loss.

iv) A financial asset is derecognized only when the Company has transferred the rights to receive cash flows from
the financial asset, or when it has transferred substantially all the risks and rewards of the asset, or when it has
transferred the control of the asset.

1.12. FINANCIAL LIABILITIES:

i) Borrowings are removed from balance sheet when the obligation specified in the contract is discharged, cancelled
or expired.

ii) Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement
of the liability for at least 12 months after the reporting period.

iii) Trade Payables represent liabilities for goods and services provided to the Company up to the end of the financial
year. The amounts are unsecured and are usually paid as per the terms of payment agreed with the vendors. The
amounts are presented as current liabilities unless payment is not due within 12 months after the reporting
period. They are recognized initially and subsequently measured at amortized cost.

iv) Financial assets and Financial liabilities are offset and the net amount is reported in the balance sheet if there is a
currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis,
to realize the assets and settle the liabilities simultaneously.

1.13. FAIR VALUE MEASUREMENT:

i) 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. The fair value measurement is based on the presumption
that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset
or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The
principal or the most advantageous market must be accessible by the Company.

ii) The fair value of an asset or liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.

iii) A fair value measurement of a non- financial asset takes into ac-count a market participant's ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

iv) The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.

v) The assets and liabilities which has been measured at fair value is Derivatives.

1.14. FOREIGN CURRENCY TRANSACTIONS:

i) Foreign currency transactions are recorded on initial recognition in the functional currency, using the exchange
rate at the date of the transaction. At each balance sheet date, foreign currency monetary items are reported using
the closing exchange rate. Exchange differences that arise on settlement of monetary items or on reporting at each
balance sheet date of the Company's monetary items at the closing rate are recognized as income or expenses in
the period in which they arise.

ii) Non-monetary items which are carried at historical cost denominated in foreign currency are reported using the
exchange rate at the date of the transaction. Non-monetary items measured at fair value in a foreign currency are
translated using the exchange rate at the date when the fair value is determined.

1.15. BORROWING COSTS:

i) Borrowing costs are interest and other costs (including exchange differences relating to foreign currency
borrowings to the extent that they are regarded as an adjustment to interest costs) incurred in connection with
the borrowing of funds.

ii) General and specific borrowing costs that are directly attributable to the acquisition or construction of qualifying
assets are capitalized as part of the cost of such assets during the period of time that is required to complete and
prepare the asset for its intended use. A qualifying asset is one that takes necessarily substantial period of time
to get ready for its intended use.

iii) All other borrowing costs are expensed in the period in which they are incurred.

1.16. ACCOUNTING FOR TAXES ON INCOME:

i) Tax expenses comprise of current tax and deferred tax including applicable surcharge and cess.

ii) Current Income tax is computed using the tax effect accounting method, where taxes are accrued in the same
period in which the related revenue and expenses arise. A provision is made for in-come tax annually, based on
the tax liability computed, after considering tax allowances and exemptions. Provisions are recorded when it is
estimated that a liability due to disallowances or other matters is probable.

iii) Deferred tax is provided using the balance sheet approach on temporary differences at the reporting date
between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting date. Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets
are recognized for all deductible temporary differences; the carry for-ward of unused tax credits and any unused
tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profits against which
the deductible temporary differences, and the carry forward unused tax credits and unused tax losses can be
utilized.

iv) The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is
no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax assets to
be utilized. Unrecognized deferred tax as-sets are reassessed at each reporting date and are recognized to the
extent that it is become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to ap-ply in the year when the
asset is realized or the liability is settled, based on the tax rates and tax laws that have been enacted or
substantively enacted at the reporting date.

v) Deferred tax is recognized in the statement of profit and loss, except to the extent that it relates to items
recognized in other comprehensive income. As such, deferred tax is also recognized in other comprehensive
income.

vi) 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 taxes
on income levied by same governing taxation laws.