Significant Accounting Policies.

1.1 Statement of compliance

In accordance with the notification dated 16th February, 2015, issued by the Ministry of Corporate Affairs, the Company has adopted
Indian Accounting Standards (referred to as “Ind AS”) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as
amended) with effect from April 1,2017.

The financial statements have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting
Standards) Rules, 2015 (as amended)

1.2 Basis of Preparation

The financial statements have been prepared on a historical cost basis, except for the certain financial assets measured at fair value
(refer accounting policy regarding financial instruments).

The financial statements are presented in Rs. and all values are rounded to the nearest Rs. except when otherwise indicated.

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 Ind AS 1 ‘Presentation of Financial Statements’ and Schedule III to the Companies Act, 2013.

1.3 Revenue Recognition:

Revenue is measured at the fair value of the consideration received or receivable.

Sale of Stock

The Company recognizes revenue from sale of stock when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity and significant risks and rewards of ownership have been transferred to the customer

Further revenue from sales is based on the price specified in the sales contracts. Accumulated experience is used to estimate and
provide for the discounts and returns.

Interest income is accounted for on an accrual basis at effective interest rates applicable on initial recognition.

1.4 Property Plant and equipments:

Property, plant and equipment (PPE) are stated at cost of acquisition less accumulated depreciation and impairment loss, if any.
Such cost includes purchase price, borrowing cost and any cost directly attributable to bringing the assets to its working condition for
its intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the
assets.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item will flow to the entity and the cost can be measured reliably.

Decommissioning costs are provided at the present value of expected costs to settle the obligation using estimated cash flows and
are recognised as part of the cost of the particular asset where ever material.

Depreciation has been provided based on the useful life prescribed in Schedule II of the Companies Act, 2013 in the manner stated
therein. Depreciation on assets added, sold or discarded during the year is provided on pro rata basis.

For transition to Ind AS, the Company has elected to continue with the carrying value of all its property, plant and equipment
recognised as of April 1,2016 (transition date) measured as the Previous GAAP and used that carrying value as deemed cost as of
the transition date.

1.5 Taxation

Income tax expense comprises current and deferred tax. Tax expenses are recognised in the statement of profit and loss, except to
the extent that it relates to items recognised directly in equity or other comprehensive income, in which case the corresponding tax
effect is also recognised directly in equity or in other comprehensive income.

(i) Current tax

The current tax is the expected tax payable on the taxable income for the year on the basis of the tax laws enacted or substantively
enacted at the reporting date and any adjustments to tax payable in previous years. Taxable profit differs from profit as reported in
the Statement of Profit and Loss because it excludes items of income or expense that are taxable or deductible in other years and it
further excludes items that are never taxable or deductible.

(ii) 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 is reviewed at the end of each reporting period and reduced to the extent that it is no
longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

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.

1.6 Inventories:

1.7 Impairment of non-financial assets

The carrying amount of assets are reviewed at each balance sheet date for any indication of impairment based on internal/external
factors. An asset is impaired when the carrying amount of the asset exceeds the recoverable amount. An impairment loss is charged
to the statement of profit and loss in the year in which an asset is identified as impaired.

1.8 Borrowing Cost:

Interest and other costs in connection with borrowing of funds to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalised upto the date when such assets are ready for its intended use and other borrowing cost are charged
to statement of profit and loss.