1) CORPORATEINFORMATION

CubexTubings Limited (Company) was incorporated on 10th August 1979 under the lawsof the republic of India and has registered office at Secunderabad (Telangana). Company isa manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of copper andcopper-based alloys such as Cupronickel, admiralty Brass, Aluminum Brass etc. Copperbecauseofitshighelectricalconductivityand heattransfer

characteristicsfindswideapplication in the form of Tubes, Rods, Strips and Wires. The user industries are

PowerPlants,Powerplantsmanufacturers,Switchgears,Refineries,Furnacemanufacturers,Su garplants, Automobileand ElectricalEquipment industries&ShipBuilders.

The addresses of its registered office and principal place of business are disclosed in theintroductiontotheannualreport.

2) SIGNIFICANTACCOUNTINGPOLICIES

a) Basis of preparation, measurement and significant accounting policiesCompliancewithIndAS

The financial statements of the company have been prepared in accordance with IndianAccountingStandards(IndAS)notifiedundertheCompanies(IndianAccountingStandard s) Rules, 2015 (as amended from time to time) and presentation requirement ofDivision II of schedule III to the Companies Act, 2013 (Ind AS compliant Schedule III), asapplicable.TheIndASareprescribedunderSection133oftheActreadwithRule3oftheCompani es(IndianAccountingStandards)Rules,2015,asamended

ThefinancialstatementscomplyinallmaterialaspectswithIndianAccountingStandards (Ind AS) notified under Section 133 of the Companies Act,2013 (the Act)[Companies (Indian Accounting Standards) Rules, 2015] and other relevant provisionsoftheAct.

HistoricalCostConvention

The financial statements have been prepared on a historical cost basis, except for thefollowing:

- certainfinancialassetsandliabilitiesthataremeasuredatfairvalue

(a) Fairvaluemeasurement

Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityin an orderly transaction between market participants on the measurement date. TheCompanyusesvaluationtechniquesthatareappropriateinthecircumstancesforwhichs ufficientdataareavailabletomeasurefairvalue,maximizingtheuseofrelevantobservablein putsandminimizingtheuseofunobservableinputs.Allassetsandliabilities for which fair value is measured or disclosed in the financial statements arecategorized within the fair value hierarchy, described as follows, based on the lowestlevelinputthatissignificanttothefair value measurementasawhole:

• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets orliabilities

• Level2 —Valuationtechniques for which the lowestlevel inputthat is significant tothefairvaluemeasurementisdirectlyorindirectlyobservable.

• Level 3 — Valuation techniques for which the lowest level input that is significant tothefairvaluemeasurementisunobservable.

(b) Currentvis-a-visnon-currentclassification

Thecompanypresentsassetsandliabilitiesbasedoncurrentandnon-currentclassification.

Anassetistreatedascurrentwhenitis:

• Expectedtoberealizedorintendedtobesoldorconsumedinnormaloperatingcycle

• Heldprimarilyforthepurposeoftrading

• Expectedtoberealizedwithintwelvemonthsafterthereportingperiod,

• Cashorcashequivalentunlessrestrictedfrombeingexchangedorusedtosettlea liabilityforatleasttwelve months afterthe reportingperiod Allotherassetsareclassifiedasnon-current.

Aliabilityiscurrentwhen:

• Itisexpectedtobesettledinnormaloperatingcycle

• Itisheldprimarilyforthepurposeoftrading

• Itisduetobesettledwithintwelvemonthsafterthereportingperiod,or

• Thereisnounconditionalrighttodeferthesettlementoftheliabilityforatleasttwelv e monthsafterthereportingperiod

Deferred tax assets and liabilities are classified as noncurrentassetsandliabilities.

The assets and liabilities reported in the Balance Sheet are classified on a "current/non-current basis”, with separate reporting of assets held for sale and liabilities. Currentassets, which include cash and cash equivalents, are assets that are intended to berealized, sold or consumed during the normal operating cycle of the Company or in the12 months following the balance sheet date; current liabilities are liabilities that areexpected to be settled during the normal operating cycle of the Company or within the12monthsfollowingthecloseofthefinancialyear.Thedeferredtaxassetsandliabilitiesar eclassifiedas non-currentassetsand liabilities.

(c) Functionalandpresentationcurrency

The financial statements are prepared in Indian Rupees (INR), which is the Company'sfunctional currency. All financial information presented in INR has been rounded to thenearestlakhs.

(d) RevenueRecognitioni. RecognitionofRevenuefromSaleofProducts(CopperandCopperAlloysProducts):

Revenuefromsaleofproductsisrecognizedwhenthe significant risks

andrewardsofownershiphavebeentransferredtothebuyer,recoveryoftheconsiderati on is probable, the associated cost can be estimated reliably, there is nocontinuing effective control or managerial involvement withthe goods, andtheamount of revenue can be measured reliably. Revenue is recognized to the extentthat it is probable that the economic benefits will flow to the Company and therevenuecanbereliablymeasured.Revenuefromsale ofproducts is

notrecognizedonthegroundsofprudence,untilrealizedinrespectofdelayedpaymentsa srecoveryofamountsarenotcertain.

Revenuefromsaleofproductsismeasuredatthefairvalueoftheconsiderationreceived orreceivable,takingintoaccountcontractually defined terms of paymentand excluding taxes or duties collected on behalf of the government. Revenue fromoperationsincludessaleofproducts,services,servicetax,exciseduty, GST

andadjustedfordiscounts(net).

ii. InterestIncome.

Interest income from a financial asset is recognized when it is probable that theeconomicbenefitswillflowtotheCompanyandtheamountofincomecanbemeasured reliably. Interest income is accrued on a time basis, with reference to theprincipal outstanding and at the effective interest rate applicable, which is the ratethat exactly discountsestimated future cashreceiptsthrough the expected life ofthefinancialassettothatasset'snetcarryingamountoninitialrecognition.

e) Propertv.plantandequipmentRecognition&Measurement

Itemsofproperty,plantandequipmentaremeasuredatcostlessaccumulateddepreciationan daccumulatedimpairmentlosses,ifany. Cost

includesexpendituresthataredirectlyattributabletotheacquisitionoftheassetThecostofse lf-

constructedassetsincludesthecostofmaterialsandothercostsdirectlyattributabletobringi

ngtheassettoaworkingconditionforitsintendeduse.

Borrowingcostsdirectlyattributabletotheacquisition,constructionorproductionofanasset

thatnecessarilytakesasubstantialperiodoftimetogetreadyforitsintendeduseorsalearecapi

talisedaspartofthecostoftheasset.Allotherborrowingcostsareexpensedintheperiodinwhi

chtheyoccur.Borrowingcostsconsistofinterestandothercoststhatanentityincursinconnec

tionwiththeborrowingoffunds.Borrowingcostalsoincludesexchangedifferencestotheexte

ntregardedasanadjustmenttotheborrowingcosts.

Whenpartsofanitemofproperty,plantand equipment have different usefullives, they are accounted for as separate items (major components) of

property,plantandequipment.Capitalworkinprogressis statedat cost, net ofaccumulated impairmentloss,ifany.Anitem of property, plant and

equipmentandanysignificantpartinitiallyrecognisedis derecognised upon disposal orwhen no future economic benefits are expected from its use or disposal. Gains andlossesupondisposalofanitemofproperty,plantandequipmentaredetermined

by comparing the proceeds from disposal with the carrying amount of property,plant and equipment and are recognised net within "Other income/ Selling andotherexpense”inthestatementofprofitandloss.

Thecostofreplacingpartofanitemofproperty,plant and equipment

isrecognisedinthecarryingamountoftheitemifitisprobablethatthefutureeconomic benefits embodied within the part will flow to the Company and its costcan be measured reliably. The costs of repairs and maintenance are recognised inthestatementofprofitandlossasincurred.

Itemsofproperty,plantandequipmentacquiredthroughexchangeofnon-monetary assets are measured at fair value, unless the exchange transaction lackscommercialsubstance or the fair value of either the asset received or asset givenup is not reliably measurable, in which case the asset exchanged is recorded at thecarryingamountoftheassetgivenup.

Depreciationmethods,estimatedusefullivesandresidualvalue:

Depreciation is recognised in the statement of profit and loss on a straight-line basisovertheestimatedusefullivesofproperty,plantandequipment.Landisnotdepreciate dbutsubjecttoimpairment.Depreciationmethods,usefullives andresidual values are reviewed at each reporting date and any changes are consideredprospectively

TheEstimatedusefullivesareasfollows:

*Theestimatedusefullifeofplantandequipmenthasbeentakenas30yearssincetheassetispurch

asedduringtheyear.

- Estimatedusefullives,residualvaluesanddepreciationmethodsarereviewedannually, takingintoaccountcommercialandtechnologicalobsolescenceaswellasnormalweara ndtearandadjustedprospectively.

- Schedule II to the Companies Act, 2013 ("Schedule”) prescribes the useful livesforvariousclassesoftangibleassets.Forcertainclassofassets,basedonthetechnical evaluation and assessment, the Company believes that the useful livesadopted byitbestrepresent theperiod overwhich an asset isexpected to beavailable for use. Accordingly, for these assets, the useful lives estimated by theCompanyaredifferentfromthoseprescribedintheSchedule.

f) Financiallnstruments

Afinancialinstrumentisanycontractthatgivesrisetoafinancialassetofoneentityandafinanci

alliabilityorequityinstrumentofanotherentity.

Financialassets-recognition

Allfinancialassetsarerecognizedinitiallyatfairvalue plus, in the case offinancial assets not recorded at fair value through profit and loss, transaction coststhatareattributabletotheacquisitionofthefinancialasset.Forpurposesofsubsequ entmeasurement,financialassetsareclassifiedinthreecategories:

• Debtinstrumentsatamortizedcost

A'Debtinstrument'ismeasuredattheamortizedcostifboththefollowingconditionsarem

et:

a) The asset is held within a business model whose objective is to hold assets forcollectingcontractualcashflows,and

b) Contractualtermsoftheassetgiveriseonspecifieddatestocashflowsthataresolelyp aymentsofprincipalandinterest(SPPI)ontheprincipalamountoutstanding.

Afterinitialmeasurement,suchfinancialassetsaresubsequentlymeasuredatamortizedcostus

ingtheeffectiveinterestrate(EIR)method.

Amortized cost is calculated bytaking into account any discount or premium onacquisitionandfeesorcoststhatareanintegralpartoftheEIR. The EIRamortization is included in finance income in the Statement of Profit and Loss. Thelosses arising from impairment are recognized in the Statement of Profit and Loss.Thiscategorygenerallyappliestotradeandotherreceivables.

Debt instruments atfair value through other comprehensive income (FVTOCI). A'debt instrument' is classified as at the FVTOCI if both of the following criteria aremet:

a) The objective of the business model is achieved both by collecting contractualcashflowsandsellingthefinancialassets,and

b) Theasset'scontractualcashflowsrepresentPPI.

DebtinstrumentsincludedwithintheFVTOCIcategoryare measured initially aswell as at each reporting date at fair value. Fair value movements are recognized inthe other comprehensive income (OCI). However, the Company recognizes interestincome, impairment losses and reversals and foreign exchange gain or loss in theprofit and loss. Onderecognition of the asset, cumulative gain or loss previouslyrecognized in OCI is reclassified from the equity to profit and loss. Interest earnedwhilstholdingFVTOCIdebtinstrumentis reported as interest income using theEIRmethod.

• Debtinstruments,derivativesandequityinstrumentsatfairvaluethroughStatemento fProfitandLoss(FVTPL)

FVTPLisaresidualcategoryfordebt instruments. Any debt instrument, whichdoes not meet the criteria for categorization as at amortized cost or as FVTOCI, isclassifiedasatFVTPL.

Inaddition,theCompanymayelecttodesignate adebt instrument,

whichotherwisemeetsamortizedcostorFVTOCIcriteria,asatFVTPL.However,suchelecti onisallowedonlyifdoingsoreducesoreliminatesameasurementorrecognition inconsistency (Referred to as 'accounting mismatch'). The Company hasnotinvestedinanyequityinstruments.

DebtinstrumentincludedwithintheFVTPLcategoryaremeasured at fair

valuewithallchangesrecognizedintheStatementofProfitandLoss.

Financialassets-derecognition

Afinancialasset(or,whereapplicable,apartofafinancialassetorpartofagroupofsimilarfin

ancialassets)isprimarilyderecognized(i.e.removedfromtheCompany'sbalancesheet)w

hen:

• Therightstoreceivecashflowsfromtheassethaveexpired,or

• The Company has transferred itsrights to receive cash flows from the asset

orhasassumedanobligationtopaythereceivedcash flows in full

withoutmaterialdelaytoathirdpartyundera'pass-through'arrangement;andeither

(a) TheCompanyhastransferredsubstantiallyalltherisks and rewards of theasset,or

(b) the Company has neither transferred nor retained substantially all the risks andrewardsoftheasset,buthastransferredcontroloftheasset.

When the Company has transferred its rights to receive cash flows from an asset orhasenteredintoapass-

througharrangement,itevaluatesifandtowhatextentithasretained therisksand

rewardsof ownership. Whenit has neither transferrednor retained substantially all of the risks and rewards of the asset, nor transferredcontroloftheasset,theCompanycontinuestorecognizethetransferredassett otheextentoftheCompany'scontinuinginvolvement. In that case, the Companyalsorecognizesanassociatedliability.Thetransferredassetandtheassociatedli ability are measured on a basis that reflects the rights and obligations that theCompanyhasretained.

Impairmentoffinancialassets

InaccordancewithIndAS109,theCompanyappliesexpectedcreditloss(ECL)modelformeasu

rementandrecognitionofimpairmentlossonthefollowingfinancialassets:

• Financialassetsthataredebtinstruments,andaremeasuredatamortizedcost

oe.g.,loans,debtsecurities,depositsandtradereceivables

• FinancialassetsthataredebtinstrumentsandaremeasuredasatFVTOCI

TheCompanyfollows'simplifiedapproach'forrecognitionofimpairmentlossallowanceon tradereceivables.TheapplicationofsimplifiedapproachdoesnotrequiretheCompanytotr ackchangesincredit risk. Rather, itrecognizesimpairment loss allowance based onlifetime ECLs ateach reporting date, right fromitsinitial recognition. Forrecognitionofimpairmentlosson other financial assetsand riskexposure, theCompany determines whether there has been a significantincrease in the credit risk since initial recognition. If credit risk has not increasedsignificantly,12-monthECLisusedtoprovidefor impairment loss. However,

ifcreditriskhasincreasedsignificantly,lifetimeECLis used. If, in a subsequentperiod,creditqualityoftheinstrumentimprovessuchthatthereisnolongerasig nificantincreaseincreditrisksinceinitialrecognition,thentheCompanyrevertstorecogniz ingimpairmentlossallowancebasedon12-monthECL.

Lifetime ECL are the expected credit losses resulting from all possible default eventsover the expected life of a financial instrument. The 12-month ECL is a portion of thelifetimeECLwhich results from default events that are possible within 12 monthsafterthereportingdate.

ECListhedifferencebetweenallcontractualcashflows that are due to theCompanyinaccordancewiththecontractandallthecashflowsthat the

entityexpectstoreceive(i.e.allcashshortfalls),discountedattheoriginalEIR.

ECLimpairmentlossallowance(orreversal)recognizedduringtheperiodisrecognizedasi ncome/expenseintheStatementofProfitandLoss (P&L). Thisamount isreflected under thehead 'other expenses' inthe Statementof Profit

andLoss(P&L).Thebalancesheetpresentationforvariousfinancialinstrumentsisdescribe dbelow:

• Financial assetsmeasured as atamortizedcost.ECLispresentedas

anallowance,i.e.,asanintegralpartofthemeasurementofthoseassetsinthebalancesheet.Th eallowancereducesthenetcarryingamountUntiltheassetmeetswrite-offcriteria,theCompanydoesnotreduceimpairmentallowancefromthegrosscarryingamo unt.

• DebtinstrumentsmeasuredatFVTOCI:Since financialassets are

alreadyreflectedatfairvalue,impairmentallowanceisnot further reduced from itsvalue.Rather,ECLamountispresentedas'accumulatedimpairmentamount'in

theOCI.Forassessingincreaseincreditriskandimpairmentloss,theCompanycombinesfina

ncialinstrumentsonthebasisofsharedcreditriskcharacteristicswiththeobjectiveoffacilitat

ingananalysisthatisdesignedtoenablesignificantincreasesincreditrisktobeidentifiedonat

imelybasis.

Financialliabilities-recognitionandmeasurement:

Financial liabilities are classified, at initial recognition, as financial liabilities at fairvaluethroughprofitorloss,loansandborrowings,payables,orasderivativesdesignated as hedging instruments in an effective hedge, as appropriate. All financialliabilitiesarerecognizedinitiallyatfairvalueand, inthe case of loans andborrowingsandpayables,netofdirectly attributable transaction costs. TheCompany'sfinancialliabilitiesincludetrade andother payables, loans andborrowingsincludingbankoverdraftsandderivativefinancialinstruments.

Subsequentmeasurement

The measurement of financial liabilities depends on their classification, as describedbelow:

• Financial liabilities at fair value through profit or loss financial liabilities at fairvaluethroughprofitorlossincludefinancialliabilitiesheldfortrading andfinancialliabilitiesdesignateduponinitialrecognitionasatfairvalue throughprofitorloss.Financialliabilitiesareclassifiedasheldfortradingiftheyareincurr edforthepurposeofrepurchasinginthenearterm.

Gains or losses on liabilities held for trading are recognized in the Statement of ProfitandLoss.

Financial liabilities designated upon initial recognition at fair value through profit orloss are designated as such at the initial date of recognition, and only if the criteria inInd AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/ lossesattributabletochangesinowncreditriskarerecognizedinOCI.Thesegains/lossesaren otsubsequentlytransferredtoStatementofProfitandLoss.However,theCompany may transfer the cumulative gain or loss within equity. All other changes infairvalueofsuchliabilityarerecognizedintheStatementofProfitandLoss.

• FinancialLiabilitiesatamortizedcost(Loansandborrowings)

Aft:erinitialrecognition,interest-

bearingloansandborrowingsaresubsequentlymeasuredatamortizedcostusingtheEIRmeth

od.Gainsandlossesarerecognizedinprofitorlosswhentheliabilitiesarederecognizedaswella

sthroughtheEIRamortizationprocess.

Amortized cost is calculated by taking into account any discount or premium

onacquisitionandfeesorcoststhatareanintegralpartoftheEIR.The

EIRamortizationisincludedasfinancecostsintheStatementofProfitandLoss.

Financialliabilities-derecognition

Afinancialliabilityisderecognizedwhentheobligationundertheliabilityisdischargedorc ancelledorexpires.Whenanexistingfinancialliabilityisreplacedby another from the same lender on substantially different terms, or the terms of anexistingliabilityaresubstantiallymodified,suchanexchangeormodificationistreated as the derecognition of the original liability and the recognition of a

newliability.ThedifferenceintherespectivecarryingamountsisrecognizedintheStatem entofProfitandLoss.

g) Inventories:

Inventoriesarevaluedatthelowerofcostandnetrealizable value, less anyprovision for obsolescence. Costs incurred in bringing each product to its

presentlocationandconditionareaccounted.

Netrealizablevalueisdeterminedbasedonestimated selling price, less

furthercostsexpectedtobeincurredtocompletionanddisposal.

h) TaxationCu rrenttax

Theincometaxexpenseorcreditfortheperiodisthetaxpayableonthecurrentperiod'staxableinc

omebasedontheapplicableincometaxrateforeachjurisdictionadjustedbychangesindeferredta

xassetsandliabilitiesattributabletotemporarydifferencesandtounusedtaxlosses.

The current income tax charge is calculated on the basis of the tax laws enacted orsubstantively enacted at the end of the reporting period in the countries where thecompanyanditssubsidiaryoperateandgeneratetaxableincome.Managementperiodical lyevaluatespositionstakenintaxreturnswithrespecttosituationsin

whichapplicabletaxregulationissubjecttointerpretation.Itestablishesprovisions,whereappro

priate,onthebasisofamountsexpectedtobepaidtothetaxauthorities.

Deferredincometaxisprovided infull,usingtheliability method,

ontemporarydifferences arising between the tax bases of assets and liabilities and their carryingamountsinthefinancialstatements.Deferredincometax is determined using taxrates (and laws) that have been enacted or substantially enacted by the end of thereportingperiodandareexpectedtoapplywhenthe related deferred income taxassetisrealisedorthedeferredincometaxliabilityissettled.

Deferredtaxassetsarerecognizedforalldeductible temporary differences andunused tax losses only if it is probable that future taxable amounts will be available toutilizethosetemporarydifferencesandlosses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right tooffset current tax assets and liabilities and when the deferred tax balances relate to thesametaxationauthority.Currenttaxassetsandtaxliabilitiesareoffset where theentity has alegally enforceable right to offset and intends either to settle on a netbasis,ortorealisetheassetandsettletheliabilitysimultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that itrelatesto itemsrecognised inother comprehensiveincome or directly in equity. Inthiscase,thetaxisalsorecognisedinothercomprehensiveincomeor directly

inequity,respectively.

MinimumAlternativeT ax:

Minimumalternativetaxpaidinaccordancewiththetaxlaws,whichgivesfutureeconomicbe nefitsintheformofadjustmenttofutureincometax liability, isconsidered as an asset if there is convincing evidence that the company will pay anormal income tax. Accordingly, MAT is recognised as an asset in the Statement ofAssets and Liabilities are measured using the tax rates and tax laws that have beenenactedbythefutureeconomicbenefitassociatedwithitwillflowtothecompany.

i) Retirement and Other Employee benefit schemes:Short-termemploveebenefits:

Employeebenefitspayablewhollywithintwelvemonthsofreceivingemployeeservicesar

eclassifiedasshort-

termemployeebenefits.Thesebenefitsincludesalariesandwages,performanceincentive

sandcompensatedabsenceswhichare expectedtooccurinnexttwelvemonths.Theundiscountedamountofshort-

termemployeebenefitstobepaidinexchangeforemployeeservicesisrecognizedasanexp

enseastherelatedserviceisrenderedbyemployees.

ProvidentFundandESI:

TheCompanyoffersretirementbenefitstoitsemployees,underprovidentfundscheme and EmployeeState Insurance which is a defined benefit plan.

TheCompanyandemployeescontributeatpredeterminedratesto'CubexTubingsLimited

Employee'sContributoryProvidentFund'(Trust')andESIaccountedonaccrualbasisandt

heconditionsforgrantofexemptionstipulatethattheemployershallmakegoodthedeficie

ncy,ifany,betweenthereturnguaranteedbythestatuteandactualearningoftheTrust.Thec

ontributiontowardsprovidentfundisrecognizedasanexpenseintheStatementofProfitan

dLoss.

j) Foreigncurrencytranslation

i) F unctionalandpresentationcurrency

Items included in the financial statements of the company are measured using thecurrencyofitsprimaryeconomicenvironmentinwhichthe company operates('the functional currency'). The financial statements are presented in Indian rupees(INR),whichisthecompany'sfunctionalandpresentationcurrency.

ii) Transactionsandbalances

Fore igncurrencytransactio ns

aretranslatedintothefunctionalcurrencyusingtheexchangeratesatthedatesofthetransacti

ons.

k) Earningspershare

i) Basicearningspershare:

Basicearningspersharearecalculatedbydividing:

a. TheprofitattributabletoownersoftheCompany;

b. Bytheweightedaveragenumberofequitysharesoutstandingduringthefinancial year.

ii) Dilutedearningspershare

Dilutedearningspershareadjustthefiguresusedinthedeterminationofbasicearningspersh

aretotakeintoaccount:

c. The after-income tax effect of interest and other financing costs associatedwithdilutivepotentialequityshares,and

d. The weighted average number of additional equity shares that would havebeen outstanding assuming the conversion of all dilutive potential equityshares.

l) TradeReceivables:

Trade receivables are recognised initially at fair value and subsequently measured atamortised cost using the effective interest method, less provision for impairment. Thecompanyhasnotcreatedanyprovisionforimpairmentduringtheyear.

m) Cashandcashequivalents

Forthepurposeofpresentationinthestatementofcashflows,cashandcashequivalentsinclu descashonhand,depositsheldatcallwith financial institutions,other short-term,highly liquid investmentswithoriginal maturities of three monthsor less that are readily convertible to known amounts of cash and which are subject toaninsignificantrisk ofchangesinvalue,andbankoverdrafts.Bankoverdraftsareshownwithinborrowingsincurr entliabilitiesinthebalancesheet.

n) ContributedEquity

Equitysharesareclassifiedasequity.

o) Provisions.contingentliabilitiesandcontingentassets:

Provisionsforlegalclaims,volumediscountsandreturnsarerecognisedwhentheCompany has apresent legal or constructive obligation asa result of past events,itisprobable that anoutflow of resources will be required to settle the obligation and

theamountcanbereliablyestimated.Provisionsarenotrecognisedforfutureoperatinglosses.

Wherethere are a number of similar obligations, the likelihood that an outflow willbe required in settlement is determined by considering the class of obligations as awhole. A provisionis recognized even if the likelihood ofan outflow with respect toanyoneitemincludedinthesameclassofobligationsmaybesmall.

Provisions are measured at the present value of management's best estimate of theexpenditurerequiredtosettlethepresentobligationattheend of the reportingperiod. The discount rate used to determine the present value is a pre-tax rate thatreflectscurrentmarketassessmentsofthetimevalueofmoneyandtherisksspecificto the liability. The increase in the provisions due to the passage of time is recognizedasinterestexpense.

p) Cashflowstatement:

Cashflowsarereportedusingtheindirectmethod,wherebyprofitbeforetax isadjustedfortheeffectsoftransactionsofnon-cashnatureand any deferrals oraccruals of past or future cash receipts or payments. The cash flows from operating,investingandfinancingactivitiesoftheCompanyaresegregated based on theavailableinformation.

q) Criticalaccountingestimatesandjudgements:

The presentation of financial statements under Ind AS requires management to takedecisionsandmakeestimatesandassumptionsthatmay impactthe value ofrevenues, costs, assets and liabilities and the related disclosures concerning the itemsinvolvedaswellascontingentassetsandliabilitiesatthe balance sheet

date.Estimatesandjudgementsarecontinuallyevaluatedandarebasedonhistoricalexperie nce and other factors, including expectations of future events that are believedtobereasonableunderthecircumstances.

The Company makes estimates and assumptions concerning the future. The resultingaccounting estimates will, by definition, seldom equal the related actual results. Theareasinvolvingcriticalestimatesorjudgementsare:

a. Estimationofdefinedbenefitobligation

b. UsefullifeofPropertyPlantandEquipment

c. Expectedcreditlossoffinancialassets

d. IncomeTaxes

r) RelatedPartyTransactions:

TheCompanyfurnishestheDisclosureoftransactionswithrelated parties,

asrequiredbyIndAS24“RelatedPartyDisdosures”asprescribed by

Companies(IndianAccountingStandard)Rules2015.RelatedpartiesasdefinedunderIndAS24h avebeenidentifiedonthebasisofrepresentationmadebythemanagementandinformationavaila blewiththecompany.