2.1 Summary of material accounting policies
A. Current versus non-current classification
AH assets and liabilities are classified into current and non-current.
Assets
An asset is classified as current when it satisfies any of the following criteria:
a) it is expected to be realized in, or is intended for sale or consumption in, the Company's normal operating cycle;
b) it is held primarily for the purpose of being traded;
c) it is expected to be realized within 12 months after the reporting date; or
d) it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least
12 months after the reporting date.
Current assets include the current portion of non-current financial assets.
All other assets are classified as non-current.
Liabilities
A liability is classified as current when it satisfies any of the following criteria:
a) it is expected to be settled in the Company's normal operating cycle;
b) it is held primarily for the purpose of being traded;
c) it is due to be settled within 12 months after the reporting date; or
d) the Company does not have an unconditional right to defer settlement of the liability for at least 12 months
after the reporting date.
Current liabilities include current portion of non-current financial liabilities.
All other liabilities are classified as non-current.
Operating cycle
Based on the nature of services and the normal time between the acquisition of assets and their realization into
cash and cash equivalents, 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
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
B. Property, Plant and Equipment
Property, plant and equipment, capital work in progress are stated at cost, less accumulated depreciation and
impairment losses if any. Cost comprises the purchase price net of refundable taxes and any attributable cost of
bringing the asset to its working condition for its intended use and initial estimate of decommissioning, restoring
and similar liabilities. Cost of residential flats includes amount of non-refundable one time deposits paid at the
time of acquisition of property towards society maintenance. Borrowing costs relating to acquisition of property,
plant and equipment which takes substantial period of time to get ready for its intended use are also included to
the extent they relate to the period till such assets are ready to be put to use.
Subsequent expenditure is capitalized only when it is probable that the future economic benefits of the expenditure
will flow to the Company. When significant parts of plant and equipment are required to be replaced at intervals,
the Company depreciates them separately based on their specific useful lives. All other repairs and maintenance
are charged to profit or loss during the reporting period in which they are incurred.
Items of stores and spares that meet the definition of property, plant and equipment are capitalized at cost and
depreciation over their useful life. Otherwise, such items are classified as inventories.
Gains or losses arising from de-recognition of property, plant and equipment are measured as the difference
between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of
profit and loss when the asset is derecognized.
The Company identifies and determines cost of each component / part of the asset separately, if the component/
part has a cost which is significant to the total cost of the assets and has useful life that is materially different from
that of the remaining asset.
C. Depreciation on property, plant and equipment
Depreciation is provided on Straight Line Method in the manner specified in the Schedule II in accordance with the
provisions of section 123(2) of the Companies Act, 2013. The identified components are depreciated over their
useful lives; the remaining assets are depreciated over the life of the principal assets.
The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at
each financial year end and adjusted prospectively, if appropriate.
D. Intangible assets
Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any.
Software is amortized using the straight-line method over a period of 6 years. The amortization expense is
recognized in the statement of profit and loss unless such expenditure forms part of carrying value of another
asset. The amortization period and the amortization method are reviewed at least at each financial year end. If
the expected useful life of the asset is significantly different from previous estimates, the amortization period is
changed accordingly.
E. Impairment of non-financial assets
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset's
recoverable amount. An asset's recoverable amount is the higher of an asset's fair value less costs of disposal and
its value in use. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered
impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows
are discounted to their present value using a pre-tax discount rate that reflects current market assessments of
the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent
market transactions are taken into account, if available. If no such transactions can be identified, an appropriate
valuation model is used.
Impairment losses, including impairment on inventories, are recognized in the statement of profit and loss.
After impairment, depreciation is provided on the revised carrying amount of the asset over it's remaining useful life.
An assessment is made at each reporting date as to whether there is any indication that previously recognized
impairment losses may no longer exist or may have decreased. If such indication exists, the company estimates
the asset's recoverable amount. A previously recognized impairment loss is reversed only if there has been a
change in the assumptions used to determine the asset's recoverable amount since the last impairment loss was
recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount,
nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss
been recognized for the asset in prior years. Such reversal is recognized in the statement of profit and loss..
F. Leases
Company as a lessee
The Company's lease asset consist of leases for land taken from Bhavnagar Municipal Corporation (BMC). The
Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a
lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company
assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has substantially all of
the economic benefits from use of the asset through the period of the lease and (iii) the Company has the right to
direct the use of the asset.
The consideration for the right to use leasehold lands over the lease term is paid upfront and these leases do not
require payment of any material lease rent amount on recurring basis. Right of Use assets are depreciated from the
commencement date on a straight-line basis over the shorter of the lease term or useful life of the underlying asset.
G. Inventories
Inventories are valued at cost or net realizable value, whichever is lower. Cost is determined on the following basis:
Ý Raw materials and stores and spares - on a weighted average method basis;
Ý Finished and semi-finished goods - at material cost plus direct expenses and appropriate value of overheads;
cost of finished goods includes excise duty as applicable.
H. Revenue recognition
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 transaction price received
or receivable.
Revenue from sale of goods is recognized at the point in time when control of the asset is transferred to the
customer, generally on dispatch of the goods. In determining the transaction price for the sale of goods, the
Company considers the effects of variable consideration, the existence of significant financing components, non¬
cash consideration, and consideration payable to the customer (if any).
Goods and Service Tax, Sales taxes and value added taxes, wherever applicable, are collected on behalf of the
Government and therefore, excluded from the revenue.
The Company does not accrue interest on long-term advances received from customers towards supply of goods
or services.
Export Inventive
Income from export incentives under various schemes notified by government is recognized where there is
reasonable assurance that the incentive will be received and all attached conditions will be complied with.
Interest Income
Interest income from debt instruments are recorded using the effective interest rate (EIR) and accrued on timely
basis. The EIR is the rate that exactly discounts the estimated future cash receipts over the expected life of the
financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset.
I. Research & Development
Research costs are expensed as incurred. Development expenditure incurred on an individual project is recognized
as an intangible asset when the company can demonstrate all the following:
Ý The technical feasibility of completing the intangible asset so that it will be available for use or sale
Ý Its intention to complete the asset
Ý Its ability to use or sell the asset
Ý How the asset will generate future economic benefits
Ý The availability of adequate resources to complete the development and to use or sell the asset
Ý The liability to measure reliably the expenditure attributable to the intangible asset during development.
Following the initial recognition of the development expenditure as an asset, the cost model is applied requiring
the asset to be carried at cost less any accumulated amortization and accumulated impairment losses. Amortization
of the asset begins when development is complete and the asset is available for use. It is amortized on a straight
line basis over the period of expected future benefit from the related project. Amortization is recognized in the
statement of profit and loss. During the period of development, the asset is tested for impairment annually.
Revenue expenditure on Research & Development is charged to the statement of profit and loss for the year in
which it is incurred. Capital expenditure on Research & Development is shown as an addition to property, plant and
equipment and depreciated on the same basis as other assets.
J. Foreign currency transactions
Initial Recognition
Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount,
the exchange rate prescribed fortnightly by the Central Board of Indirect Taxes and Customs (CBIC) for exports
between the reporting currency and the foreign currency at the date of the transaction. This practice followed by
the company is consistent with Para 22 of the Ind AS 21.
Conversion
Foreign currency monetary items are retranslated using the exchange rate prevailing at the reporting date. Non¬
monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using
the exchange rate at the date of the transaction.
Exchange differences
Exchange differences arising on the settlement of monetary items or on reporting such monetary items at rates
different from those at which they were initially recorded during the year, or reported in previous financial
statements, are recognized as income or as expenses in the year in which they arise.
K. Employee benefits
Short-term employee benefits
The undiscounted amount of short-term employee benefits expected to be paid in exchange for services rendered
by employees is recognized during the period when the employee renders the service.
Post-employment benefit plans
i. Defined Contribution Plan: Contribution for provident fund are accrued in accordance with applicable statutes
and deposited with the Regional Provident Fund Commissioner. Contribution for Superannuation in respect
of certain employees of the company is made in accordance with the scheme with Life Insurance Corporation
of India.
ii. Defined Benefit Plan: The liability in respect of gratuity is determined using Projected Unit Credit Method
with actuarial valuation carried out as at balance sheet date. Contributions in respect of gratuity are made
to the Group Gratuity Scheme with Life Insurance Corporation of India. The net interest cost is calculated by
applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets.
The Company recognizes the following changes in the net defined benefit obligation as an expense in the
statement of profit and loss:
a. Service costs comprising current service costs, past-service costs, gains and losses on curtailments and
non-routine settlements; and
b. Net interest expense or income
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 other comprehensive
income in the period in which they occur. Re-measurements are not reclassified to profit or loss in
subsequent periods.
Other long-term employee benefits
Long term compensated absences are provided for based on actuarial valuation at the year end. The actuarial
valuation is done as per Projected Unit Credit method. Actuarial gains/losses are immediately taken to the
statement of profit and loss and are not deferred.
L. Borrowing costs
Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement
of borrowings.
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily
takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the
respective asset. All other borrowing costs are expensed in the period they occur.
M. Income taxes
Tax expense comprises current and deferred tax. Current income-tax is measured at the amount expected to be
paid to the tax authorities in accordance with the Income-tax Act, 1961 enacted in India. The tax rates and tax
laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Current income tax relating to items recognized outside profit or loss is recognised in correlation to the underlying
transaction either in other comprehensive income or directly in equity.
Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
Ý When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting
profit nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences
Ý In respect of taxable temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and
it is probable that the temporary differences will not reverse in the foreseeable future
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits
and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit
will be available against which the deductible temporary differences, and the carry forward of unused tax credits
and unused tax losses can be utilised, except:
Ý When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition
of an asset or liability in a transaction that is not a business combination and, at the time of the transaction,
affects neither the accounting profit nor taxable profit or loss and does not give rise to equal taxable and
deductible temporary differences
Ý In respect of deductible temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the
temporary differences will reverse in the foreseeable future and taxable profit will be available against which
the temporary differences can be utilised
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively
enacted at the reporting date.
Deferred tax asset is reviewed as at each balance sheet date and written down or written up to reflect whether
taxable profit will be available or not.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other
comprehensive income or in equity).
N. Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
(i) Financial assets
Initial recognition and measurement
All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair
value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.
Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in four categories:
Ý Debt instruments at amortised cost
Ý Debt instruments at fair value through other comprehensive income (FVTOCI)
Ý Debt instruments, derivatives and equity instruments at fair value through profit or loss (FVTPL)
Ý Equity instruments measured at fair value through other comprehensive income (FVTOCI)
Debt instruments at amortised cost
A 'debt instrument' is measured at the amortised cost if both the following conditions are met:
a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash
flows, and
b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.
After initial measurement, such financial assets are subsequently measured at amortised cost using the
effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount or
premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included
in finance income in the profit or loss. The losses arising from impairment are recognised in the profit or loss.
This category generally applies to trade and other receivables.
Debt instrument at FVTOCI
A 'debt instrument' is classified as at the FVTOCI if both of the following criteria are met:
a) The objective of the business model is achieved both by collecting contractual cash flows and selling the
financial assets, and
b) The asset's contractual cash flows represent SPPI
Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date
at fair value. Fair value movements are recognized in the other comprehensive income (OCI). However, the
Company recognizes interest income, impairment losses & reversals and foreign exchange gain or loss in the
statement of profit and loss. On de-recognition of the asset, cumulative gain or loss previously recognised in
OCI is reclassified from the equity to statement of profit and loss. Interest earned whilst holding FVTOCI debt
instrument is reported as interest income using the EIR method.
Debt instrument at FVTPL
FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for
categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.
In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost
or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as 'accounting mismatch'). The Company has not
designated any debt instrument as at FVTPL.
Debt instruments included within the FVTPL category are measured at fair value with all changes recognized
in the statement of profit and loss.
Equity investments
All equity investments in scope of Ind AS 109 are measured at fair value. The company may make an irrevocable
election to present in other comprehensive income subsequent changes in the fair value in case of equity
investments which are not held for trading. The company makes such election on an instrument-by-instrument
basis. The classification is made on initial recognition and is irrevocable.
If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the
instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to
statement of profit and loss, even on sale of investment. However, the Company may transfer the cumulative
gain or loss within equity.
Equity instruments included within the FVTPL category are measured at fair value with all changes recognized
in the statement of profit and loss.
De-recognition of financial assets
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised (i.e. removed from the Company's balance sheet) when:
Ý The rights to receive cash flows from the asset have expired, or
Ý The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation
to pay the received cash flows in full without material delay to a third party under a 'pass-through'
arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the
asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the
asset, but has transferred control of the asset.
When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass¬
through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When
it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred
control of the asset, the Company continues to recognise the transferred asset to the extent of the Company's
continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset
and the associated liability are measured on a basis that reflects the rights and obligations that the Company
has retained.
Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower
of the original carrying amount of the asset and the maximum amount of consideration that the Company
could be required to repay.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss on financial assets which are measured at amortised cost or FVOCI.
The Company follows 'simplified approach' for recognition of impairment loss allowance on trade receivables
and contract assets.
The application of simplified approach does not require the Company to track changes in credit risk. Rather,
it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its
initial recognition.
For recognition of impairment loss on other financial assets and risk exposure, the Company determines
that whether there has been a significant increase in the credit risk since initial recognition. If credit risk
has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk
has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument
improves such that there is no longer a significant increase in credit risk since initial recognition, then the
entity reverts to recognising impairment loss allowance based on 12-month ECL.
Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of
a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that
are possible within 12 months after the reporting date.
ECL is the difference between all contractual cash flows that are due to the Company in accordance with the
contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the
original EIR. ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/
expense in the statement of profit and loss (P&L). This amount is reflected in a separate line in the P&L as an
impairment gain or loss.
For financial assets measured as at amortised cost, ECL is presented as an allowance, i.e. as an integral part
of the measurement of those assets in the balance sheet. The allowance reduces the net carrying amount.
Until the asset meets write-off criteria, the Company does not reduce impairment allowance from the gross
carrying amount.
(ii) Financial liabilities
Initial recognition and measurement
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss,
loans and borrowings, payables, as appropriate.
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs.
The Company's financial liabilities include trade and other payables, loans and borrowings and derivative
financial instruments.
Subsequent measurement
The measurement of financial liabilities depends on their classification, as described below:
Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are
classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category
also includes derivative financial instruments entered into by the Company that are not designated as hedging
instruments in hedge relationships as defined by Ind AS 109.
Gains or losses on liabilities held for trading are recognised in the profit or loss.
Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such
at the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as
FVTPL, fair value gains/ losses attributable to changes in own credit risks are recognized in OCI. These gains/
loss are not subsequently transferred to P&L. However, the Company may transfer the cumulative gain or loss
within equity. All other changes in fair value of such liability are recognised in the statement of profit and loss.
The Company has not designated any financial liability as at fair value through profit and loss.
Loans and borrowings
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost
using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as
well as through the EIR amortisation process.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs
that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit
and loss.
De-recognition of financial liabilities
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different
terms, or the terms of an existing liability are substantially modified, such an exchange or modification is
treated as the de-recognition of the original liability and the recognition of a new liability. The difference in
the respective carrying amounts is recognised in the statement of profit or loss.
(Hi) Reclassification of financial assets
The Company determines classification of financial assets and liabilities on initial recognition. After initial
recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities.
For financial assets which are debt instruments, a reclassification is made only if there is a change in the
business model for managing those assets. Changes to the business model are expected to be infrequent. The
Company's management determines change in the business model as a result of external or internal changes
which are significant to the Company's operations. Such changes are evident to external parties. A change in
the business model occurs when the Company either begins or ceases to perform an activity that is significant
to its operations. If the Company reclassifies financial assets, it applies the reclassification prospectively from
the reclassification date which is the first day of the immediately next reporting period following the change in
business model. The Company does not restate any previously recognised gains, losses (including impairment
gains or losses) or interest.
(iv) Offsetting of financial instruments
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 recognised amounts and there is an intention to settle on a
net basis, to realise the assets and settle the liabilities simultaneously.
O. Derivative accounting
TThe Company uses derivative financial instruments, such as forward currency contracts to hedge its foreign
currency risks. Such derivative financial instruments are initially recognised at fair value on the date on which
a derivative contract is entered into and are subsequently re-measured at fair value. Derivatives are carried as
financial assets when the fair value is positive and as financial liabilities when the fair value is negative.
Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or loss.
P. Fair value measurement
The Company measures financial instruments, such as, derivatives at fair value at each reporting date.
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:
Ý In the principal market for the asset or liability, or
Ý 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.
The fair value of an asset or a 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.
A fair value measurement of a non-financial asset takes into account 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.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.
AH assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:
Ý Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities
Ý Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or indirectly observable
Ý Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the
lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
Q. Earnings per share (EPS)
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the
effects of all dilutive potential equity shares.
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