Accounting Policies of Antariksh Industries Ltd. Company

Mar 31, 2025

(a) Basis of preparation

(i) Compliance with Ind AS

These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the ''Ind AS'') as
notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 (''Act'') read with of the Companies (Indian Accounting
Standards) Rules, 2015 and other relevant provisions of the Act.

The accounting policies are applied consistently to all the periods presented in the financial statements.

(ii) Historical cost convention

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

1) certain financial assets and liabilities that are measured at fair value;

(iii) Current non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current when it
is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

•It is expected to be settled in normal operating cycle
•It is held primarily for the purpose of trading

•It is due to be settled within twelve months after the reporting period, or

•There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The Company classifies all other liabilities as non-current.

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. The company has
identified twelve months as its operating cycle.

(b) Cash and Cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand , cheques on hand, other short-term
highly liquid investments with original maturities 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.

(c) Inventories

Traded Goods have been valued at lower of cost and net realisable value. The cost of inventories shall comprise all costs of purchase, costs of conversion
and other costs incurred in bringing the inventories to their present location and condition. NRV is the estimated selling price in the ordinary course of
business less the estimated cost of completion and estimated cost necessary to make the sale.

Provision is made for obsolete, slow moving and defective stocks, wherever necessary.

(i) Classification

The company classifies its financial assets in the following measurement categories:

(1) those to be measured subsequently at fair value (either through other comprehensive income, or through the Statement of Profit and Loss),
and

(2) those measured at amortised cost.

The classification depends on the company''s business model for managing the financial assets and the contractual terms of the cash flows.

(ii) Measurement

For purposes of subsequent measurement, the Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and

• those measured at amortized cost.

The classification depends on the entity''s business model for managing the financial assets and the contractual terms of the cash flows. For assets
measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments,
this will depend on the business model in which the investment is held. For investments in equity instruments, this will depend on whether the
Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other
comprehensive income.

Equity investments:

The Company subsequently measures all equity investments at fair value. Where the Company''s management has elected to present fair value gains
and losses for an equity investments, that is not held for trading, in other comprehensive income, there is no subsequent reclassification of fair value
gains and losses to profit or loss. Dividends from such investments are recognised in profit or loss as other income when the Company''s right to
receive payments is established. Changes in the fair value of financial assets at fair value through profit or loss are recognised in the statement of
profit and loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from
other changes in fair value.

(iii) Impairment of financial assets

The company measures the expected credit loss associated with its assets based on historical trend, industry practices and the business environment
in which the entity operates or any other appropriate basis. The impairment methodology applied depends on whether there has been a significant
increase in credit risk.

For Trade Receivables only, the company applies the simplified approach permitted by Ins AS 109 Financial Instruments, which requires expected
lifetime losses to be recognised from initial recognition of the receivables.

(iv) Derecognition of financial assets

A financial asset is derecognised only when

- The company has transferred the rights to receive cash flows from the financial asset or

- retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one
or more recipients.

Where the entity has transferred an asset, the company evaluates whether it has transferred substantially all risks and rewards of ownership of the
financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of
ownership of the financial asset, the financial asset is not derecognised.

Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the
financial asset is derecognised if the company has not retained control of the financial asset. Where the company retains control of the financial
asset, the asset is continued to be recognised to the extent of continuing involvement in the financial asset.

(e) Impairment of non-financial assets

Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment
loss is recognised for the amount by which the asset''s or cash generating unit''s carrying amount exceeds its recoverable amount and is recognised in the
Statement of Profit and Loss. The recoverable amount is the higher of an asset''s fair value less costs of disposal and value in use. For the purpose of
assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the
cash inflows from other assets or company of assets (cash-generating units). Non-financial assets that suffered an impairment are reviewed for possible
reversal of the impairment at the end of each reporting period.

(f) Financial liabilities

(i) Classification

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the
contractual arrangements and the definition of a financial liability and an equity instrument. An equity instrument is any contract that evidences a
residual interest in the assets of an entity after deducting all of its liabilities

(ii) Measurement

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 including bank overdrafts, financial guarantee contracts
and derivative financial instruments

(iii) Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below

1) Borrowings:

Borrowings are subsequently carried at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is
recognized in the statement of profit and loss over the period of the borrowings using the effective interest method. Fees paid on the establishment
of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In
this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be
drawn down, the fee is capitalized as a pre-payment for liquidity services and amortized over the period of the facility to which it relates

2) Trade and other payable:

These amounts represent obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade
and payables are subsequently measured at amortized cost using the effective interest method.

(iv) Derecognition

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.

(g) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (CODM). The managing
Director is designated as CODM.

(h) Borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred and measured subsequently at amortised cost. Any difference between the
proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Profit and Loss over the period of the borrowings using
the effective interest method.

Borrowings are removed from the Balance Sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between
the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash
assets transferred or liabilities assumed, is recognised in profit or loss as other gains/(losses).

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. Where there is a breach of a material provision of a long-term loan arrangement on or before the end of the reporting period with the
effect that the liability becomes payable on demand on the reporting date, the entity does not classify the liability as current, if the lender agreed, after the
reporting period and before the approval of the financial statements for issue, not to demand payment as a consequence of the breach.

(i) Revenue recognition

The Company primarily engage in exceution of Real Estate & Trading Activities. It recongnizes revenue from the sale of goods measured at the fair value of
the consideration received or receivable, net of returns, trade allowances, rebates, discounts, Goods and Service tax.

The company recognises revenue at a point in time when control of the product or services has been transferred to customers and specific criteria have
been met for each of the company''s activities as described below.

Sale of goods

Sales are recognised upon satisfaction of performance obligations, i.e. at a point of time, which occurs when the control is transferred to the customer and
there are no unfulfilled obligation that could affect the customer''s acceptance of the products. In case of domestic customer, generally sales take place
when goods are dispatched or delivery is handed over to transporter. In determining the transaction price for the sale of goods, the Company considers
Variable Consideration, if any, trade allowances, rebates, discounts.

Revenue from Contract Income

Revenue from construction contracts is recognized by reference to the stage of completion of the construction activity as on Balance Sheet date, as
measured by the proportion that contract cost incurred for work performed to date bear to the estimated total contract cost.Where the outcome of the
construction cannot be estimated reliably, revenue is recognized to the extent of the construction cost incurred if it is probable that they will be recoverable.
In the case of the contract defined with mile stones and assigned price for each mile stone, it recognize the revenue on transfer of significant risks and
rewards which coincides with achievement of mile stone and its acceptance by the customers.Provision is made for all losses incurred to the balance sheet
date. Any further losses which are foreseen in bringing contracts to completion are also recognized. Contract Revenue earned in excess of billing has been
reflected in other current Assets and Billing in excess of contract revenue has been reflected under Current Liabilities in the Balance Sheet.

Contract balances

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods
or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that
is conditional. A receivables represents the Company''s right to an amount of consideration that is unconditional.

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of
consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract
liability is recognised when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognised as revenue when the
Company performs under the contract.

Other operating revenue

Interest Income

Interest income is recognised as it accrues using the Effective Interest Rate (EIR) method. EIR is the rate that exactly discounts the estimated future cash
payment or receipts over the expected life of the financial instruments or a shorter period, where appropriate, to the net carrying amount of the financial
asset or liability. Finance income is included in other income in the profit & Loss Account.

Dividends

Dividends are recognised in the Statement of Profit and Loss only when the right to receive payment is established.

(j) Income tax

Income tax expense comprises current and deferred income tax. Income tax expense is recognized in net profit in the statement of profit and loss except to
the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income tax for current
and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been
enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all temporary differences arising
between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax assets are reviewed at each reporting
date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet
date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of
changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the
substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against
which the deductible temporary differences and tax losses can be utilized. The company offsets current tax assets and current tax liabilities, where it has a
legally enforceable right to setoff the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously.

Minimum Alternate Tax credit is recognised as deferred tax asset only when and to the extent there is convincing evidence that the company will pay
normal income tax during the specified period. Such asset is reviewed at each Balance Sheet date and the carrying amount of such deferred tax asset on
account of Minimum Alternate Tax credit is written down to the extent there is no longer a convincing evidence to the effect that the company will pay
normal income tax during the specified period.

(k) Earnings Per Share
Basic earnings per share

Basic earnings per share is calculated by dividing:

- the net profit attributable to owners of the company.

- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during
the year and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

- after income tax effect of interest and other financing costs associated with dilutive potential equity shares
, and

- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity
shares.

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Mar 31, 2024

1 STATEMENT OF MATERIAL ACCOUNTING POLICIES

I. Background

Antariksh Industries Limited ("the Company") is a public limited company domiciled in India and incorporated under the provisions of the Companies
Act 1956. The registered office of the Company is located at 609, 6th Floor, INIZIO, Cardinal Gracious Road, Opp. P&G Plaza, Chakala, Andheri(East),
Mumbai- 400 099, Maharashtra. The Company is listed on the Bombay Stock Exchange (BSE).

II. Significant Accounting Policies followed by the company

(a) Basis of preparation

(i) Compliance with Ind AS

These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the ''Ind AS'') as
notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 (''Act) read with of the Companies (Indian
Accounting Standards) Rules, 2015 and other relevant provisions of the Act.

The accounting policies are applied consistently to all the periods presented in the financial statements.

(ii) Historical cost convention

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

1) certain financial assets and liabilities that are measured at fair value;

(iii) Current non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current
when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

•It is expected to be settled in normal operating cycle
•It is held primarily for the purpose of trading

•It is due to be settled within twelve months after the reporting period, or

•There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The Company classifies all other liabilities as non-current.

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. The company
has identified twelve months as its operating cycle.

(b) Cash and Cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand , cheques on hand, other short-term
highly liquid investments with original maturities 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.

(c) Inventories

Traded Goods have been valued at lower of cost and net realisable value. The cost of inventories shall comprise all costs of purchase, costs of
conversion and other costs incurred in bringing the inventories to their present location and condition. NRV is the estimated selling price in the ordinary
course of business less the estimated cost of completion and estimated cost necessary to make the sale.

Provision is made for obsolete, slow moving and defective stocks, wherever necessary.

(d) Investments and other financial assets

(i) Classification

The company classifies its financial assets in the following measurement categories:

(1) those to be measured subsequently at fair value (either through other comprehensive income, or through the Statement of Profit and
Loss), and

(2) those measured at amortised cost.

The classification depends on the company''s business model for managing the financial assets and the contractual terms of the cash flows.

(ii) Measurement

For purposes of subsequent measurement, the Company classifies its financial assets in the following measurement categories:

¦ those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and

¦ those measured at amortized cost.

The classification depends on the entity''s business model for managing the financial assets and the contractual terms of the cash flows. For
assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt
instruments, this will depend on the business model in which the investment is held. For investments in equity instruments, this will depend on
whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value
through other comprehensive income.

Equity investments:

The Company subsequently measures all equity investments at fair value. Where the Company''s management has elected to present fair value
gains and losses for an equity investments, that is not held for trading, in other comprehensive income, there is no subsequent reclassification of
fair value gains and losses to profit or loss. Dividends from such investments are recognised in profit or loss as other income when the
Company''s right to receive payments is established. Changes in the fair value of financial assets at fair value through profit or loss are
recognised in the statement of profit and loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI
are not reported separately from other changes in fair value.

(iii) Impairment of financial assets

The company measures the expected credit loss associated with its assets based on historical trend, industry practices and the business
environment in which the entity operates or any other appropriate basis. The impairment methodology applied depends on whether there has
been a significant increase in credit risk.

For Trade Receivables only, the company applies the simplified approach permitted by Ins AS 109 Financial Instruments, which requires
expected lifetime losses to be recognised from initial recognition of the receivables.

(iv) Derecoanition of financial assets

A financial asset is derecognised only when

- The company has transferred the rights to receive cash flows from the financial asset or

- retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to
one or more recipients.

Where the entity has transferred an asset, the company evaluates whether it has transferred substantially all risks and rewards of ownership of
the financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of
ownership of the financial asset, the financial asset is not derecognised.

Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the
financial asset is derecognised if the company has not retained control of the financial asset. Where the company retains control of the financial
asset, the asset is continued to be recognised to the extent of continuing involvement in the financial asset.

(e) Impairment of non-financial assets

Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An
impairment loss is recognised for the amount by which the asset''s or cash generating units carrying amount exceeds its recoverable amount and is
recognised in the Statement of Profit and Loss. The recoverable amount is the higher of an asset''s fair value less costs of disposal and value in use. For
the purpose of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely
independent of the cash inflows from other assets or company of assets (cash-generating units). Non-financial assets that suffered an impairment are
reviewed for possible reversal of the impairment at the end of each reporting period.

(f) Financial liabilities

(i) Classification

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of
the contractual arrangements and the definition of a financial liability and an equity instrument. An equity instrument is any contract that
evidences a residual interest in the assets of an entity after deducting all of its liabilities

(ii) Measurement

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 including bank overdrafts, financial guarantee
contracts and derivative financial instruments

(iii) Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below

1) Borrowings:

Borrowings are subsequently carried at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption
value is recognized in the statement of profit and loss over the period of the borrowings using the effective interest method. Fees paid on the
establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will
be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or
all of the facility will be drawn down, the fee is capitalized as a pre-payment for liquidity services and amortized over the period of the facility to
which it relates

2) Trade and other payable:

These amounts represent obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade and payables are subsequently measured at amortized cost using the effective interest method.

(iv) Derecoanition

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.

(a) Seament Reportina

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (CODM). The
managing Director is designated as CODM.

(h) Borrowinas

Borrowings are initially recognised at fair value, net of transaction costs incurred and measured subsequently at amortised cost. Any difference
between the proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Profit and Loss over the period of the
borrowings using the effective interest method.

Borrowings are removed from the Balance Sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference
between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any
non-cash assets transferred or liabilities assumed, is recognised in profit or loss as other gains/(losses).

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. Where there is a breach of a material provision of a long-term loan arrangement on or before the end of the reporting
period with the effect that the liability becomes payable on demand on the reporting date, the entity does not classify the liability as current, if the
lender agreed, after the reporting period and before the approval of the financial statements for issue, not to demand payment as a consequence of
the breach.

(i) Revenue recoanition

The Company primarily engage in exceution of Real Estate & Trading Activities. It recongnizes revenue from the sale of goods measured at the fair
value of the consideration received or receivable, net of returns, trade allowances, rebates, discounts, Goods and Service tax.

The company recognises revenue at a point in time when control of the product or services has been transferred to customers and specific criteria
have been met for each of the company''s activities as described below.

Sale of goods

Sales are recognised upon satisfaction of performance obligations, i.e. at a point of time, which occurs when the control is transferred to the customer
and there are no unfulfilled obligation that could affect the customer''s acceptance of the products. In case of domestic customer, generally sales take
place when goods are dispatched or delivery is handed over to transporter. In determining the transaction price for the sale of goods, the Company
considers Variable Consideration, if any, trade allowances, rebates, discounts.

Revenue from Contract Income

Revenue from construction contracts is recognized by reference to the stage of completion of the construction activity as on Balance Sheet date, as
measured by the proportion that contract cost incurred for work performed to date bear to the estimated total contract cost.Where the outcome of the
construction cannot be estimated reliably, revenue is recognized to the extent of the construction cost incurred if it is probable that they will be
recoverable. In the case of the contract defined with mile stones and assigned price for each mile stone, it recognize the revenue on transfer of
significant risks and rewards which coincides with achievement of mile stone and its acceptance by the customers.Provision is made for all losses
incurred to the balance sheet date. Any further losses which are foreseen in bringing contracts to completion are also recognized. Contract Revenue
earned in excess of billing has been reflected in other current Assets and Billing in excess of contract revenue has been reflected under Current
Liabilities in the Balance Sheet.

Contract balances

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring
goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned
consideration that is conditional. A receivables represents the Company''s right to an amount of consideration that is unconditional.

A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of
consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract
liability is recognised when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognised as revenue when the
Company performs under the contract.

Other operating revenue

Interest Income

Interest income is recognised as it accrues using the Effective Interest Rate (EIR) method. EIR is the rate that exactly discounts the estimated future
cash payment or receipts over the expected life of the financial instruments or a shorter period, where appropriate, to the net carrying amount of the
financial asset or liability. Finance income is included in other income in the profit & Loss Account.

Dividends

Dividends are recognised in the Statement of Profit and Loss only when the right to receive payment is established.

(j) Income tax

Income tax expense comprises current and deferred income tax. Income tax expense is recognized in net profit in the statement of profit and loss
except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income
tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax
laws that have been enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all
temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax assets
are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance
sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The
effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment
or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available
against which the deductible temporary differences and tax losses can be utilized. The company offsets current tax assets and current tax liabilities,
where it has a legally enforceable right to setoff the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and
settle the liability simultaneously.

Minimum Alternate Tax credit is recognised as deferred tax asset only when and to the extent there is convincing evidence that the company will pay
normal income tax during the specified period. Such asset is reviewed at each Balance Sheet date and the carrying amount of such deferred tax asset
on account of Minimum Alternate Tax credit is written down to the extent there is no longer a convincing evidence to the effect that the company will
pay normal income tax during the specified period.

(k) Earnings Per Share
Basic earnings per share

Basic earnings per share is calculated by dividing:

- the net profit attributable to owners of the company.

- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued
during the year and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

- after income tax effect of interest and other financing costs associated with dilutive potential equity shares
, and

- the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential
equity shares.

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Mar 31, 2014

1. Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting.

2. Tangible Assets :

Tangible Assets are stated at cost of acquision or construction (net of Cenvat Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

3. Depreciation :

The Company has provided depreciation as per Income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by Rs.4,791/- (cumulative Rs.1,35,875/-) and correspondingly profit would have been more to the same extent for the year.

4. Provisions :

As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.

5. Figures for the previous year have been regrouped and rearranged wherever found necessary.

6. Additional information required pursuant to part II of schedule VI of the Companies Act, 1956, is either '' NIL'' or '' NOT APPLICABLE''.

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Mar 31, 2013

(a) Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting

(b) Tangible Assets :

Tangible Assets are stated at cost of acquisition or construction (net of Cenvat Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

(c) Depreciation:

The Company has provided depreciation as per Income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by T.45,683/- (cumulative *. 1,31,084/-) and correspondingly profit would have been more to the same extent for the year.

(d) Provisions:

i. As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.

(e) Figures for the previous year have been regrouped and rearranged wherever found necessary

(f) Additional information required pursuant to part II of schedule VI of the Companies Act, 1956, is either''NIL'' or NOT APPLICABLE''.

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Mar 31, 2012

(a) Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting.

(b) Tangible Assets:

Tangible Assets are stated at cost of acquision or construction (net of Convert Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

(c) Depreciation:

The Company has provided depreciation as per income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by Rs.44,684/- (cumulative Rs.85401/-) and correspondingly profit would have been more to the same extent for the year.

(d) Provisions:

i. No provisions for income tax has been made in view of Loss during the year.

II. As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.