B. Significant accounting policies

i. Statement of compliance

The Company's financial statements have been prepared in accordance with the provisions of the Companies Act, 2013 and the Indian
Accounting Standards (“Ind AS”) notified under the Companies (Indian Accounting Standards) Rules, 2015 and amendments thereto
issued by Ministry of Corporate Affairs under section 133 of the Companies Act, 2013. In addition, the guidance notes/announcements
issued by the Institute of Chartered Accountants of India (ICAI) are also applied except where compliance with other statutory
promulgations require a different treatment.

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 realisation in cash and cash equivalents.
Functional and presentation currency

These separate financial statements are presented in Indian rupees, which is the Company's functional currency. All amounts have been
rounded to the nearest Rupees in lacs unless otherwise indicated.

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:

i. Allowance for bad and doubtful trade receivable.

ii. Recognition and measurement of provision and contingencies.

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

iv. Recognition of deferred tax.

v. Income Taxes.

vi. Measurement of defined benefit obligation.

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

viii. Fair Value Measurement

iv. Revenue
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 (ie 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.

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, goods and service tax). 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 lower of cost and net realizable value on FIFO basis, except by-product/scrap is valued at net realizable value.
Cost of inventory is generally comprises of cost of purchases, cost of conversion and other cost incurred in bringing the inventories to
their present location and condition.

vi. Property, Plant and Equipment

a. Recognition and measurement

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.

c. Depreciation

Depreciation on property, plant and equipment is provided using Written down value method (WDV) 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 11 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. Intangible Assets

Identifiable intangible assets are recognised when it is probable that future economic benefits attributed to the asset will flow to the
Company and the cost of the asset can be reliably measured. Gains or losses arising from derecognition of an intangible asset are
measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement
of profit and loss when the asset is derecognised.

Recognition and measurement

Computer softwares have finite useful life and are measured at cost less accumulated amortisation and any accumulated impairment
losses.

Subsequent expenditure

Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it
relates or where development stage is achieved. All other expenditure, including expenditure on internally generated goodwill and
brands, when incurred is recognised in statement of profit or loss.

Amortisation

Amortisation is calculated to write off the cost of intangible assets less their estimated residual values using the straight-line method over
their estimated useful lives and is generally recognised in statement of profit or loss. Computer software are amortised over their
estimated useful life of 3years.

Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if required.

viii. 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 company provides for gratuity to the employees as per the Payment of Gratuity Act, 1972. Employees who are in continuous for a
period of five years are eligible for gratuity. The company has opted for scheme with Life Insurance corporation of India (LIC) to cover its
liabilities towards employees gratuity. The company also carries out Actuarial Valuation of gratuity using the projected unit credit method
as required by Ind AS - 19 and the difference between fair value of plan assets and liability as per actuarial valuation as at the year end is
recognised in the financial statements.

Re measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on
the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit
liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI in the
period in which they occur. Re measurements of the net defined benefit liability (asset) recognised in other comprehensive income shall
not be reclassified to profit or loss in a subsequent period.

The Company recognises the following changes in the net defined benefit obligation as an expense in the statement of profit and loss:

• Service costs comprising current service costs, past-service costs; and

• Net interest expense or income

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.

ix. 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 also includes any tax arising from dividends.

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 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.
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.

x. Foreign currency transactions

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. Difference arising on settlement of monetary items are recognised in statement of profit and 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 difference arising out of these transactions are
generally recognised in statement of profit and loss.

xi. 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 and loss in the period in
which they are incurred.

xii. 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 overdraft 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.

xiii. 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.

xiv. Earning Per Share

a. Basic earnings per shares is arrived at based on net profit / (loss) after tax available to equity shareholders divided by Weighted
average number of equity shares , adjusted for bonus elements in equity shares issued during the year (if any) and excluding
treasury shares.

b. Diluted earnings per shares is calculated by dividing Profit attributable to equity holders after tax divided by Weighted average
number of shares considered for basic earning per shares including potential dilutive equity shares. The dilutive potential equity
shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market
value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period,
unless issued at a later date. Potential ordinary shares shall be treated as dilutive when, and only when, their conversion to ordinary
shares would decrease earnings per share or increase loss per share from continuing operations.