Accounting Policies of CIAN Agro Industries & Infrastructure Ltd. Company

Mar 31, 2025

Material Accounting Policy
Basis for Preparation

The Financial Statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the
Companies Rules. 2015 (as amended from time to time) read with section 133 of Companies Act. 2013 and presentation
requirements of Division II of schedule III to the Companies Act 2013 (Ind AS compliant Schedule III), and as other
pronouncements of ICAI. provisions of the Companies Act and Rules and guidelines issued by SEBI as applicable.

The Financial Statements are presented in INR(Rs.) which is also the company''s functional currency and all values are
rounded to the nearest lakhs, except otherwise indicated.

The Financial Statements have been prepared on the historical cost basis except for certain assets and liabilities that are
measured at fair values, as explained in the accounting policies below

In the financial statements of the current financial year, additional disclosures were incorporated to ensure the true and fair
presentation of data. Furthermore, to uphold consistency and improve comparability, figures from prior years were
reclassified.

I. Classification of Assets and Liabilities as Current and Non -Current

The company present assets and liabilities in the balance sheet based on current / non-current classification.

An asset is classified as current when it is expected to be realized or intended to be sold or consumed in normal operating
cycle or held primarily for the purpose of trading All other assets are classified as non-current.

A liability is classified as current when it is expected to be settled in normal operating cycle, it is held primanly for the
purpose of trading, or there is no unconditional right to defer the settlement of liability for at least 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 penod The company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non current asset and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents. The Company has identified twelve months as its operating cycle.

II. Use of Estimates and Judgement

The preparation of the Standalone Financial Statements requires management to make estimates, judgements and
assumptions that affect the reported amount of assets, liabilities, revenue, expenses and contingent liabilities and
accompanying disclosures pertaining to the year. Actual results may differ from such estimates

Estimates and undertying assumptions are reviewed on an ongoing basis. Any revision in accounting estimates is
recognized prospectively and material revision, including its impact on financial statements, is reported in the notes to
accounts in the year of incorporation of revision

Information about critical judgments in applying accounting policies that have the most significant effect on the carrying
amounts of assets and liabilities and in respect of assumptions and estimates on uncertainties are as follows: -

• Determination of the estimated useful lives of intangible assets and property, plant and equipment

• Recognition and measurement of defined benefit obligations. Present value of the gratuity and leave encashment
obligation is determined using actuarial valuations. An actuarial valuation involves making various assumptions that
may differ from actual developments in the future.

• In estimating the fair value of financial assets and financial liabilities

• Recognition of deferred tax assets.

• Estimation of Expected Credit Loss on financial statement

• Assessment of Impairment on Assets

III. Measurement of fair values

The Company measures certain financial instruments 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 in the principal or. in its absence, the most advantageous market to which the Company has access at
that date. The fair value of a liability also reflects its non-performance nsk. The Company regularly reviews significant
unobservable inputs and valuation adjustments. If the third-party information, such as broker quotes or pricing services, is
used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the
conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the
valuations should be classified

While measuring the fair value of an asset or liability, the Company uses observable market data as far as possible. Fair
values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation technique as
follows:

Level 1: Quoted pnees (unadjusted) in active markets for identical assets or liabilities

Level 2: Inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either
directly (Le. as prices) or indirectly (i.e. derived from prices)

Level 3: inputs for the assets or liabflity that are not based on observable market data (unobservable inputs)

Certain accounting policies and disclosures require the measurement of fair values, for both financial and non- financial
assets and liabilities. When quoted price in active market for an instrument is available, the Company measures the fair
value of the instrument using that price. A market is regarded as active if transactions for the asset or liability take place with
sufficient frequency and volume to provide pricing information on an ongoing basis.

If there are no quoted prices in an active market, then the Company uses a valuation technique that maximises the use of
relevant observable inputs and minimises the use of unobservable inputs. The chosen valuation technique incorporates all
of the factors that market participants would take into account in pricing a transaction. Such factors may indude Quoted
Prices for Similar Assets or Liabilities. Interest Rates or Yield Curves. Credit Risk and Credit Spread, etc.

The best estimate of the fair value of 3 financial instrument on initial recognition is normally the transaction price i.e. the
fair value of the consideration given or received. If the Company determines that the fair value on initial recognition differs
from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset
or liability nor based on a valuation technique for which any unobservable inputs are judged to be insignificant in relation to
the measuremenL then the financial instrument is initially measured at fair value, adjusted to defer the difference between
the fair value on initial recognition and the transaction price

Subsequently that difference is recognised in Statement of Profit 3nd Loss. Other comprehensive income or retained
earrings as appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by
observable market data or the transaction is closed out.

IV. Cash flow

The statement of cash flows has been prepared under indirect method, whereby profit or loss is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and
items of income or expense associated with investing or financing cash flows. The cash flows from operating, investing
and financing activities of the Company are segregated.

For the purpose of presentation in the cash flow statement, cash and cash equivalent would indude other bank balance.

V. Foreign Currency Transaction

Monetary Items: Transactions in foreign currencies are initially recorded at their respective exchange rates at the date the
transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currency are translated
into the reporting currency at the dosing rate on the each reporting date. Exchange differences ansing on settlement or
translation of monetary items are recognized in statement of profit and loss on foreign currency transaction.

Non- Monetary item: Non Monetary item that are measured in terms of historical cost in a foreign currency are translated
using the exchange rates at the date of initial transaction.

VI. Summary of Material Accounting Policy

1. Property, Plant and Equipment

a) Initial Recognition and Measurement

Property. Rant and Equipment are recognized at Cost Cost indudes freight, duties, taxes (other than those recoverable
by the entity) and other expenses directly incidental to acquisition, bringing the asset to the location and installation. Such
costs also indude borrowing cost if the recognition entena are met

Sparc parts which meet the definition of Property. Plant and Equipment are capitalized as Property, Plant and Equipment
In other cases, the spare parts are inventoried on procurement and charged to Statement of Profit and Loss on
consumption.

b) Subsequent Expenditure

Subsequent costs are induded in the asset''s carrying amount or recognised as a separate asset as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item
can be measured reliably. All other repairs and maintenance are charged to the Statement of Profit and Loss during the
period in which they are incurred

The method of subsequent measurement for all classes of assets are given as follows:

Method of Subsequent Measurement	Classes of Assets
Cost Model (i.e cost less accumulated depreciation and impairment loss)	Office Equipment, Computer. Electrical Installations, Lab Equipment, Vehicles. Cylinder, Furniture & Fixture
Revaluation Model (i.e. cost plus revaluation g3in/(loss) less accumulated depreciation and impairment loss)	Land. Building. Rant and Machinery (Revaluation is done in every 3-5 year)

c) Depreciation

Depreciation has been provided on straight line method in terms of expected life span of assets as referred to in Schedule II
of the Companies Act 2013. The estimated useful lives, residual values and depreciation method are reviewed at the end
of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

For PPE where the entity has chosen the revaluation model, the accumulated depreciation is offset against the revalued
amount.

As per Ind AS 16 the amount of revaluation surplus arising on revaluation of PPE shall be transferred to retained earnings
either-

• at the end of each year during the life of the asset or

• may involve transferring the whole of the surplus when the asset is retired or disposed of.

Company has opted for second option of transferring the whole of the surplus when the asset is retired or disposed of.

2. Intangible Asset

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and
any accumulated impairment losses, if any. Amortisation is recognised on a straight-line basis over their estimated useful
lives in the statement of profit and loss unless such expenditure forms part of carrying value of another asset
The Company has intangfole asset in the nature of Computer software having useful life of 3 years.

3. Financial Instrument

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. Financial assets and financial liabilities are initially measured at fair value. Transaction costs
that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial at fair
value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as
appropriate, on initial recognition.

a) Financial Asset

• Initial recognition and measurement

All financial assets are recognised initiaBy 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 Purchases or sales of financial
assets that require delivery of assets within a time frame established by regulation or convention in the maricet place (regular
way trades) are recognised on the trade date. Le.. the dale that the Company commits to purchase or sell the asset

• Subsequent measurement

Subsequent measurement is determined with reference to the classification of the respective financial assets. Based on
the business model for managing the financial assets and the contractual cash flow characteristics of the financial asset
the Company classifies financial assets as subsequently measured at amortised cost, fair value through other
comprehensive income or fair value through profit and loss.

i. Debt instruments at amortised cost

A‘debt instrument’ is measured at the amortised cost if both the following conditions are met
The asset is held within a business model whose objective is

- To hold assets for collecting contractual cash flows, and

- Contractual terms of the asset give rise on specified dates to cash Rows 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 and fees or costs that are
an integral part of the EIR. The EIR amortisation is included in finance income in the Statement of Profil and Loss. The
losses arising from impairment are recognised in the Statement of Profit and Loss

iL Debt instruments at Fair value through Other Comprehensive Income (FVOCI)

A debt instrument’ is measured at the fair value through other comprehensive income if both the following conditions are met
The 3sset is held within a business model whose objective is achieved by both

- Collecting contractual cash Rows and selling financial assets

- Contractual terms of the asset give rise on specified dales to cash flows that are SPPI on the principal amount
outstanding.

After initial measurement these assets are subsequently measured at fair value, any changes in value of debt instrument
are recognised through other comprehensive income.

Balance in other comprehensive Income in relation to fair valuation reserve will be reclassified to profit and loss on sale of
such debt instrument

iii. Debt instruments at Fair value through profit and loss (FVTPL)

Fair value through profit and loss is a residual category for debt instruments. Any debt instrument, which does not meet the
criteria for categorisation as at amortised cost or as FVOCI. is classified as at FVTPL After initial measurement, any fair
value changes including any interest income, foreign exchange gain and losses, impairment loss and other net gains and
losses are recognised in the Statement of Profit and Loss.

This instrument is either investment in equity share of other entity or derivative financial asset

Investment in equity share can be shown at FVTOCI under irrevocable option (Le. can''t show investment in equity at
FVTPL in future). In case of investment in equity share shown at FVOCI under irrevocable option, fair valuation reserve on
sale of such investment wfll be transferred to retained earning directly.

• impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financial assets in
FVTPL category. For financial assets other than trade receivables, as per Ind AS 109. the Company recognises 12 month
expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the financial
asset has no! increased significantly since its initial recognition The expected credit losses are measured as lifetime
expected credit losses if the credit risk on financial asset increases significantly since its initial recognition. The Company''s
trade receivables do not contain significant financing -component and loss allowance on trade receivables is measured at
an amount equal to fife time expected losses Le. expected cash shortfall The impairment losses and reversals are
recognised in Statement of Profit and Loss.

• Derecognition of financial assets

The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or when it
transfers the financial asset and substantially ail the risks and rewards of ownership of the asset to another party or when it
has neither transferred nor retained substantially all the risks and rewards of the asseL but h3s transferred control of the
asseL On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum
of the consideration received and receivable and the cumulative gain or loss that had been recognised in other
comprehensive income and accumulated in equity, is recognised in statement of profit and loss if such gain or loss would
have otherwise been recoanised in the statement of orofit and loss on dtsoosal of that financial asset

b) Financial Liability

• Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities are recognised initially at fair value and. in the case of loans and borrowings and payables, net of
directly attributable transaction costs.

• Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR (Effective Interest Rate) method or are
measured at fair value through profit and loss with changes in fair value being recognised in the Statement of Profit and Loss.

i. Financial liabilities measured at amortised cost

Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortised cost at the
end of subsequent accounting periods. The carrying amounts of financial liabilities that are subsequently measured at
amortised cost are determined based on the effective interest method. Interest expense that is not capitalised as part of
costs of an asset is included in the ‘Franee costs'' line item in the statement of profit and loss. The effective interest method
is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant
penod The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and
costs paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or
discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying
amount on initial recognition

ii. Financial liabilities at fair value through profit or loss (FVTPL)

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as FVTPL Finandal liabilities are classified as held for trading if these are incurred for
the purpose of repurchasing in the near term. Financial liabilities at FVTPL are stated at fair value, with any gains or kisses
ansing on remeasurement recognised in statement of profit or loss.

• Derecognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company''s obligations are discharged,
cancelled or have expired. An exchange with a lender of debt instruments with substantially different terms is accounted for
as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, a substantial
modification of the terms of an existing financial liability is accounted for as an extinguishment of the original financial
liability and the recognition of a new financial liability. The difference between the carrying amount of the financial liability
derecognised and the consideration paid and payable is recognised in the statement of profit and loss. In case of
derecognition of financial liabilities relating to promoters'' contribution, the difference between the carrying amount of the
financial liability derecognised and the consideration paid and payable is recognised in other equity.

• Financial guarantee contracts

Financial guarantee contracts issued by the Company are those contracts that require a payment to be made to reimburse
the holder for a loss it incurs because the specified debtor fails to make a payment when due in accordance with the terms
of a debt instrumenL Financial guarantee contracts are recognised initially as a liability at fair value through profit or loss,
adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequently, the liability is
measured at the higher of the amount of loss allowance determined as per impairment requirements of Ind AS 109 and the
amount recognised less cumulative amortisation.

4. Inventory

Inventories comprises of raw materials, stock-in-progress, finished goods and consumable stores. Inventories are valued
at cost or estimated net realizable whichever is lower after providing for obsolescence and other losses, where considered
necessary. The cost of inventones comprises of all cost of purchase, cost of conversion and other cost incurred in bringing
inventories to their present location and condition. Net realisable value represents the estimated selling price for
inventories less all estimated costs necessary to make the sale.

5. Leases

Company recognizes a right-of-use asset and a lease liability at the lease commencement date.

Right-of-usc asset (RCXJ):

The right-of-use asset is initially measured at cost Cost comprises of the initial amount of the lease liability adjusted for any
lease payments made at or before the commencement date, any initial direct costs incurred by the lessee, an estimate of
costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located less
any lease incentives received . After the commencement date, a lessee shall measure the right-of-use asset applying cost
model, which is Cost less any accumulated depreciation and any accumulated impairment losses. Right-of-use asset is
depreciated using straight-line method from the commencement date to the earlier of end of the useful life of the ROU
asset or the end of the lease term.

Lease liability:

Lease liability is initially measured at the present value of lease payments that are not paid at the commencement date.
Discounting is done using the implicit interest rate in the lease, if that rate cannot be readily determined, then using
company''s incremental borrowing rate. Incremental borrowing rate is determined based on entity''s borrowing rate
adjusted for terms of the lease and type of the asset leased

Subsequently, lease liability is measured at amortised cost using the effective interest method. Lease liability is re
measured when there is a change in the lease term, a change in its assessment of whether it will exercise a purchase,
extension or termination option ora revised in-substance fixed lease payment.

When the lease liability is re-measured corresponding adjustment is made to the canying amount of the right-of-use asset.
If the canying amount of the right-of-use asset has been reduced to zero it will be recorded in statement of profit and loss.
Right-of-use asset is presented as a separate category under *non-cunent assets'' and lease liabilities are presented
under ‘Financial liabilities* in the balance sheet

6. Investment in Subsidiaries

Investments in subsidiaries and associates are carried at cost less accumulated impairment losses, if any. Where an
indication of impairment exists, the canying amount of the investment is assessed and written down immediately to its
recoverable amount

The Company accounts for its investments in subsidiaries at cost in its separate financial statements, m accordance with
Ind AS 27 Separate Financial Statements. Investments are reviewed at each reporting date for indicators of impairment
and are impaired when there is objective evidence that the carrying amount exceeds the recoverable amount” In case of a
business combination, the Company applies the acquisition method as prescribed under Ind AS 103 Business
Combinations. The identifiable assets acquired and liabilities assumed are measured at their acquisition-date fair values
Any excess of the consideration transferred over the fair value of the net identifiable assets acquired is recognized as
goodwill. If the consideration transferred is lower than the fair value of the net assets acquired, the difference is recognized
as a gain in Other Comprehensive Income or Profit or Loss, after reassessing the fair values and the consideration
transferred.” Transaction costs incurred in connection with a business combination are expensed as incurred, except for
costs to issue debt or equity securities, which are recognized in accordance with Ind AS 32 and Ind AS 109."

7. Contract Assct/Liability :

Contract assets are recognised when there are excess of revenues earned over billings on contracts. Contract assets are
classified as unbilled receivables (only act of invoicing is pending) when there is unconditional right to receive C3Sh, and
only passage of time is required, as per contractual terms. Unearned and deferred revenue (‘contract liability”) is
recognised when there are billings in excess of revenues.

8. Income Tax and Deferred Tax

1. Income-tax Assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities The tax rates and tax laws used to compute the amount are those that are enacted or substantively
enacted. by the end of reporting period.

2. Current Tax items are recognized in correlation to the underlying transaction either in the Statement of Profit and Loss,
other comprehensive income or directly in equity.

3. Deferred tax is provided using the Balance Sheet method on temporary differences between the tax bases of assets
and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

4. Defened tax liabilities are recognized for ail taxable temporary differences. Deferred tax assets are recognized for all
deductible temporary differences, the carryforward of unused tax credits and any unused tax losses.

5. Deferred tax assets are recognized 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.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized.

6. Unrecognized deferred tax assets are re assessed at each reporting date and are recognized to the extent that it has
become probable that future taxable profits will allow the deferred tax asset to be recovered.

7. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset
is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at
the reporting date.

8. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets
against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

9. Cash and Cash Equivalent

Cash and cash equivalents indudes cash on hand, deposits held at call with finandal institutions, other shorter highly liquid
investment with original maturities of three months or less that are readily convertible to know amounts of cash and which
are subject to an insignificant risk of changes in values.

10. Rovenuc Recognition

1. "As per provision of IND AS 115 Revenue from Contracts with Customer , revenue is recognised on transfer of control
of goods or services to a customer at an amount that reflects the consideration to which the Company is expected to be
entitled to in exchange for those goods or services. Revenue towards satisfaction of a performance obligation is measured
at the amount of transaction price (net of variable consideration) allocated to that performance obligation. The transaction
price of goods sold. and services rendered is net of variable consideration on account of discounts offered by the Company
as part of the contractual obligation. Revenue (net of variable consideration) is recognised only to the extent that it is highly
probable that the amount will not be subject to significant uncertainty regarding the amount of consideration that will be
derived from the sale of goods. The performance obligation in case of sale of goods is satisfied at a point in time i.e.. when
the material is shipped to the customer or on delivery to the customer. 3s may be specified in the contract Sales are net of
returns, trade discounts, rebates and sales taxes / Goods and Service Tax (GST).

2. Construction Contract Revenue is recognised over time as the services are provided by output method as per Ind AS
115. the percentage of progress for determining the amount of revenue to recognise is assessed based on surveys
conducted by independent surveyor of work performed.

3. Secunty deposit interest income is recorded using the effective interest rate (E1R). which is the rate that discounts the
estimated future cash payments or receipts through the expected life of the financial instruments or a shorter period, where
appropriate, to the net carrying amount of the financial assets. Other Interest income is recognized as and when received
at actual rate. Interest income is included in other income in the Statement of Profit and Loss.

4. Other income have been recognized on accrual basis in the financial statements.

11. Employee Benefits

a) Short-Term Employee benefits

All employee benefits payable wholly within twelve months of rendenng the service are classified as short-term employee
benefits Benefits such as salaries, performance incentives, etc., are recognized as an expense at the undiscounted
amount in the Statement of Profit and Loss of the year in which the employee renders the related service.

b) Post Employment Benefits

• Defined Benefit Plans

The Company''s net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the
amount of future benefit that employees have earned in the current and prior periods, after discounting the same. The
calculation of defined benefit obligations is performed annually by a qualified actuary using the projected unit credit
method. Re-measurement of the net defined benefit liability, which comprise actuarial gains and losses are recognized
immediately in Other Comprehensive Income (OCI). Net interest expense (income) on the net defined liability (assets) is
computed by applying the discount rate, used to measure the net defined liability (asset). Net interest expense and other
expenses related to defined benefit plans are recognized in Statement of Profit and Loss When the benefits of a plan are
changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on
curtailment is recognized immediately in Statement of Profit and Loss. The Company recognizes gains and losses on the
settlement of a defined benefit plan when the settlement occurs.

• Defined Contribution Plans

Payments made to a defined contribution plan such as Provident Fund maintained with Regional Provident Fund Office
are charged as an expense in the Statement of Profit and Loss as they fall due.

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Mar 31, 2023

Note 1: SIGNIFICANT ACCOUNTING POLICIES Corporate Information

CIAN Agro Industries & Infrastructure Ltd. referred to as “CIAN” or “The Company" was incorporated on 13th Day of September 1985 under the name of Umred Agro Complex Ltd. It was renamed to its present name in the year 2015. It is listed on the BSE Limited in India. The Company is primarily engaged in three divisions - Agro, Healthcare and Infrastructure.

1.1 Basis for preparation of accounts Statement of compliance

The accounts have been prepared in accordance with Ind AS and Disclosures thereon comply with requirements of Ind AS, stipulations contained in Schedule- III (revised) as applicable under Section 133 of the Companies Act, 2013read with Rule 7 of the Companies (Accounts) Rules 2014, Companies (Indian Accounting Standards) Rules 2015as amended from time to time, other pronouncements of ICAI, provisions of the Companies Act and Rules and guidelines issued by SEBI as applicable.

Up to financial year ended on 31stMarch, 2017, the company had prepared the accounts according to the Previous GAAP. The financial statements for the year ended 31stMarch 2018 are the first to have been prepared in accordance with IND AS.

1.2 Use of Estimates

Ind AS enjoins management to make estimates and assumptions related to financial statements that affect reported amount of assets, liabilities, revenue, expenses and contingent liabilities pertaining to the year. Actual result may differ from such estimates. Any revision in accounting estimates is recognized prospectively and material revision, including its impact on financial statements, is reported in the notes to accounts in the year of incorporation of revision.

1.3 First time adoption of IND AS

The Company has adopted Ind AS w.e.f.1st April, 2017 with a transition date of 1st April, 2016. Accordingly, financial statements for the year ended 31st March, 2018 together with the comparative information for the year ended 31st March, 2017 and opening Ind AS balance sheet as at 1st April, 2016 have been prepared in accordance with accounting policies as set out in Note 1 - “Significant Accounting Policies”. The Company has prepared its opening Ind AS balance sheet as at 1st April, 2016 by recognizing assets and liabilities whose recognition is required by Ind AS, derecognizing assets and liabilities which are not permitted by Ind AS, reclassifying assets and liabilities as required by Ind AS, and applying Ind AS measurement principles, subject to certain optional exemptions and mandatory exemptions. The resulting difference between the carrying values of the assets and liabilities as at the transition date under Ind AS and Previous GAAP have been adjusted directly against “Other Equity”.

1.4 Property, Plant and Equipment

1. These are tangible assets, held for use in production, supply of goods or for administrative purposes. They are recognized at cost. Cost includes freight, duties, taxes (other than those recoverable by the entity) and other expenses directly incidental to acquisition, bringing the asset to the location and installation including site restoration up to the time when the asset is ready for intended use. Such costs also include borrowing cost if the recognition criteria are met.

2. On the date of transition to Ind AS i.e 1stApril 2016, the Company has elected to continue with the carrying value of the Property, Plant and Equipment existing as per previous GAAP and use that as its deemed cost.

3. The method of subsequent measurement for all classes of assets are given as follows:

Method of Subsequent Measurement	Classes of Assets
Cost Model (i.e. cost less accumulated depreciation and impairment loss)	Office Equipment, Computer, Electrical Installations, Lab Equipment, Vehicles, Cylinder, Furniture & Fixture
Revaluation Model (i.e. cost plus revaluation gain/(loss) less accumulated depreciation and impairment loss)	Land, Building, Plant and Machinery

4. Depreciation has been provided on straight line method in terms of expected life span of assets as referred to in Schedule II of the Companies Act, 2013. The residual value and useful life is reviewed annually and any deviation is accounted for as a change in estimate.

5. When a major inspection/repair occurs, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Any remaining carrying amount of the cost of previous inspection/repair is de-recognized.

6. Spare parts which meet the definition of Property, Plant and Equipment are capitalized as such. In other cases, the spare parts are recognized as inventory on procurement and charged to Statement of Profit and Loss on consumption.

1.5 Recognition of Income and Expenses

1. After “Ind AS 115 - Revenue from Contracts with Customers" coming into effect from 1st April 2018, the policy for Revenue recognition has been revised. The revenue from sale of goods/services shall be recognized when all the following conditions have been satisfied:

a. the company has transferred the goods/ services to a customer i.e. the customer has obtained control of the goods/ services.

b. it is probable that the company will collect the consideration to which it is entitled on transfer of the goods/ services, with respect to the customer''s ability and intention to pay the amount of consideration when it is due.

2. Sales are measured at the fair value of consideration received or receivable. Sales recognized are net of Sales tax, Service tax, Goods and Services tax (GST), rebates and discount.

3. Other incomes have been recognized on accrual basis in the financial statements. Interest income is recognized using effective interest rate (EIC) method.

4. Expenses are recognized on accrual basis in the financial statements.

1.6 Prior Period Errors

As per “Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors", prior period errors are corrected retrospectively subject to maximum of Rupees 20 lakhs, in the first set of financial statements approved for issue after their discovery by:

1. restating the comparative amounts for the prior period(s) presented.

2. if the error occurred before the earliest prior period presented, restating the opening balances of assets, liabilities and equity for the earliest prior period presented.

1.7 Fair value measurement

The Company measures certain financial instruments 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 in the principal or, in its absence, the most advantageous market to which the Company has access at that date. The fair value of a liability also reflects its non-performance risk. The Company regularly reviews significant unobservable inputs and valuation adjustments. If the third-party information, such as broker quotes or pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should be classified.

While measuring the fair value of an asset or liability, the Company uses observable market data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation technique as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)

- Level 3: inputs for the assets or liability that are not based on observable market data (unobservable inputs) Certain accounting policies and disclosures require the measurement of fair values, for both financial and non- financial assets and liabilities. When quoted price in active market for an instrument is available, the Company measures the fair value of the instrument using that price. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

If there are no quoted prices in an active market, then the Company uses a valuation technique that maximise the use of relevant observable inputs and minimise the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction.

The best estimate of the fair value of a financial instrument on initial recognition is normally the transaction price - i.e. the fair value of the consideration given or received. If the Company determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any unobservable inputs are judged to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price.

Subsequently that difference is recognised in Statement of Profit and Loss on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out.

1.8 Financial Instruments

1.8.1 Financial Assets

1. 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. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

2. Subsequent measurement

Subsequent measurement is determined with reference to the classification of the respective financial assets. Based on the business model for managing the financial assets and the contractual cash flow characteristics of the financial asset, the Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit and loss.

a. Debt instruments at amortised cost

A ‘debt instrument'' is measured at the amortised cost if both the following conditions are met :

The asset is held within a business model whose objective is

- To hold assets for collecting contractual cash flows, and

- 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 and fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance income in the Statement of Profit and Loss. The losses arising from impairment are recognised in the Statement of Profit and Loss.

b. Debt instruments at Fair value through Other Comprehensive Income (FVOCI)

A ‘debt instrument'' is measured at the fair value through other comprehensive income if both the following conditions are met:

The asset is held within a business model whose objective is achieved by both

- Collecting contractual cash flows and selling financial assets

- Contractual terms of the asset give rise on specified dates to cash flows that are SPPI on the principal amount outstanding.

After initial measurement, these assets are subsequently measured at fair value. Interest income under effective interest method, foreign exchange gains and losses and impairment are recognised in the Statement of Profit and Loss. Other net gains and losses are recognised in other comprehensive Income.

c. Debt instruments at Fair value through profit and loss (FVTPL)

Fair value through profit and loss is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for categorisation as at amortised cost or as FVOCI, is classified as at FVTPL. After initial measurement, any fair value changes including any interest income, foreign exchange gain and losses, impairment loss and other net gains and losses are recognised in the Statement of Profit and Loss.

1.8.2 Financial Liabilities

1. Initial recognition and measurement

Financial liabilities are initially recognised when the Company becomes a party to the contractual provisions of the instrument. All financial liabilities are initially measured at fair value net off, for a financial liability not at fair value through profit and loss, transaction costs that are directly attributable to the respective financial liability.

2. Subsequent measurement

Subsequent measurement is determined with reference to the classification of the respective financial liabilities. The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities affair value through profit and loss.

a. Financial Liabilities measured at amortised cost

After initial recognition, financial liabilities other than those which are classifieds fair value through profit and loss are subsequently measured at amortised cost using the effective interest rate method (“EIR”).Amortised cost is calculated by taking into account any discount or premium and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.

b. Financial Liabilities at fair value through profit and loss (FVTPL)

A financial liability is classified as at fair value through profit and loss if it misclassified as held-for-trading or is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and changes therein, including any interest expense, are recognised in Statement of Profit and Loss.

1.9 Classification of Assets and Liabilities as Current and Non-Current

The Company presents assets and liabilities in the balance sheet based on current/non-current classification An asset is classified as current when it is expected to be realised or intended to be sold or consumed in normal operating cycle, held primarilyforthepurposeoftrading,expectedtoberealisedwithintwelvemonths 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 classified as 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 reportingperiod. 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.

1.10 Inventories

Inventories comprises of raw materials, work-in-progress, stock-in-trade, finished goods, stores & spares and other consumables. Inventories are valued at cost or estimated net realizable value after providing for obsolescence and other losses, whichever is lower. The cost of inventories is determined on FIFO method, which comprises of all cost of purchase, cost of conversion and other cost incurred in bringing inventories to their present location and condition.

1.11 Income Tax and Deferred Tax

1. Income-tax Assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, by the end of reporting period.

2. Current Tax items are recognized in correlation to the underlying transaction either in the Statement of Profit and Loss, other comprehensive income or directly in equity.

3. Deferred tax is provided using the Balance Sheet method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

4. Deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses.

5. Deferred tax assets are recognized 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. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized.

6. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

7. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date.

8. Deferred Tax items are recognized in correlation to the underlying transaction either in the Statement of Profit and Loss, other comprehensive income or directly in equity.

9. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

1.12 Employee Benefits

Liabilities in respect of employee benefits to employees are provided for as follows :

1.12.1 Short-term employee benefits

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognized in respect of employees'' services up to the end of the reporting period and are measured at the amounts expected to be incurred when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

1.12.2 Post Separation Employee Benefit Plans

i. Defined Benefit Plan :

Gratuity Liability is calculated using projected unit credit method as prescribed by IND AS-19. Liability recognized in the Balance Sheet in respect of gratuity is the present value of the defined benefit obligation at the end of each reporting period. The present value of defined benefit is determined by discounting the estimated future cash outflows by reference to market yield on government bonds that have terms approximate to the terms of the related obligation. The interest cost is calculated by applying the discount rate to the Opening Balance of the defined benefit obligation. This cost is included in employee benefit expense in the Statement of Profit and Loss.

ii. Defined Contribution Plans :

Company contributes its share of contribution to Employees Provident Fund in a scheme notified by Central Government and same is recognized in Statement of Profit and Loss Account as Employee Benefits.

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Mar 31, 2018

Note 1 : SIGNIFICANT ACCOUNTING POLICIES

1.1 Basis for preparation of accounts Statement of compliance

The accounts have been prepared in accordance with Ind AS and Disclosures thereon comply with requirements of Ind AS, stipulations contained in Schedule- III (revised) as applicable under Section 133 of the Companies Act, 2013read with Rule 7 of the Companies (Accounts) Rules 2014,Companies (Indian Accounting Standards) Rules 2015as amended from time to time, other pronouncements of ICAI, provisions of the Companies Act and Rules and guidelines issued by SEBI as applicable.

Up to financial year ended on 31stMarch, 2017, the company had prepared the accounts according to the Previous GAAP. The financial statements for the year ended 31stMarch 2018 are the first to have been prepared in accordance with IND AS.

Balance sheets as on 1stApril, 2016 &31stMarch, 2017 have been presented as comparatives. The transition was carried out retrospectively as on the transition date which is 1stApril, 2016and for any variation in the amounts represented in the comparative balance sheet vis-a-vis earlier presentation, reconciliation is given as part of notes. Assets and liabilities have been classified as Current or Non-Current on the basis of operating cycle (determined at 12 months) and other criteria set out in revised Schedule - III to the Companies Act, 2013.

1.2 Use of Estimates

Ind AS enjoins management to make estimates and assumptions related to financial statements that affect reported amount of assets, liabilities, revenue, expenses and contingent liabilities pertaining to the year. Actual result may differ from such estimates. Any revision in accounting estimates is recognized prospectively and material revision, including its impact on financial statements, is reported in the notes to accounts in the year of incorporation of revision.

1.3 First time adoption of IND AS

The Company has adopted Ind AS w.e.f.1st April, 2017 with a transition date of 1st April, 2016. Accordingly, financial statements for the year ended 31st March, 2018 together with the comparative information for the year ended 31st March, 2017 and opening Ind AS balance sheet as at 1st April, 2016 have been prepared in accordance with accounting policies as set out in Note 1 - “Significant Accounting Policies”. The Company has prepared its opening Ind AS balance sheet as at 1st April, 2016 by recognizing assets and liabilities whose recognition is required by Ind AS, derecognizing assets and liabilities which are not permitted by Ind AS, reclassifying assets and liabilities as required by Ind AS, and applying Ind AS measurement principles, subject to certain optional exemptions and mandatory exemptions. The resulting difference between the carrying values of the assets and liabilities as at the transition date under Ind AS and Previous GAAP have been adjusted directly against“Other Equity”. The policies & exemptions followed & availed in transition to Ind AS by Company is set out below:-

Optional exemptions and mandatory exceptions:

The Company has availed the following optional exemptions and mandatory exceptions on first time adoption of Ind AS as per Ind AS 101.

1. Optional exemptions

a. Deemed cost for property, plant and equipment:

The Company has opted to continue with the carrying value as per the Previous GAAP for all items of its Property, Plant and Equipment as its deemed cost on the date of transition.

2. Mandatory exceptions

a. Classification and measurement of financial Instruments

The Company has determined the classification and measurement of financial assets on the basis of the facts and circumstances existing at the date of transition.

b. Estimates

The Company’s estimates under Ind AS as at 1st April 2016 are consistent with the estimates as at the same date made in conformity with the Previous GAAP. However, estimates that were not required under Previous GAAP but now required under Ind AS have been made on the facts and conditions as at the date of transition.

The remaining mandatory exceptions either do not apply or are not relevant to the company.

1.4 Property, Plant and Equipment

1. These tangible assets are held for use in production, supply of goods or for administrative purposes. These are recognised and carried under cost model i.e. cost less accumulated depreciation and impairment loss, if any which is akin to recognition criteria under erstwhile GAAP.

2. Cost includes freight, duties, taxes (other than those recoverable by the entity) and other expenses directly incidental to acquisition, bringing the asset to the location and installation including site restoration up to the time when the asset is ready for intended use. Such costs also include borrowing cost if the recognition criteria are met.

3. When a major inspection/repair occurs, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. Any remaining carrying amount of the cost of previous inspection/repair is de recognised.

4. Depreciation has been provided on straight line method in terms of expected life span of assets as referred to in Schedule II of the Companies Act, 2013. The residual value and useful life is reviewed annually and any deviation is accounted for as a change in estimate.

5. Spare parts which meet the definition of Property, Plant and Equipment are capitalized as Property, Plant and Equipment. In other cases, the spare parts are inventorised on procurement and charged to Statement of Profit and Loss on consumption.

6. On the date of transition to Ind AS i.e 1stApril 2016, the Company has elected to continue with the carrying value of the Property, Plant and Equipment existing as per previous GAAP and use that as its deemed cost.

1.5 Recognition of Income and Expenses

1. Revenue from the sale of goods shall be recognised when all the following conditions have been satisfied:

a. The entity has transferred to the buyer the significant risks and rewards of ownership of the goods;

b. The entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

c. The amount of revenue can be measured reliably;

d. It is probable that the economic benefits associated with the transaction will flow to the entity; and

e. The costs incurred or to be incurred in respect of the transaction can be measured reliably.

2. Sales are measured at the fair value of consideration received or receivable. Sales recognised is net of Sales tax, Service tax, Goods and Services tax (GST), rebates and discount but gross of Excise Duty.

3. Other incomes have been recognised on accrual basis in financial statements.

Interest income is recognised using effective interest rate (EIC) method.

1.6 Fair value measurement

The Company measures certain financial instruments 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 in the principal or, in its absence, the most advantageous market to which the Company has access at that date. The fair value of a liability also reflects its non-performance risk. The Company regularly reviews significant unobservable inputs and valuation adjustments. If the third-party information, such as broker quotes or pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should be classified.

While measuring the fair value of an asset or liability, the Company uses observable market data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation technique as follows:

- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

- Level 2: inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)

- Level 3: inputs for the assets or liability that are not based on observable market data (unobservable inputs)

Certain accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities. When quoted price in active market for an instrument is available, the Company measures the fair value of the instrument using that price. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

If there are no quoted prices in an active market, then the Company uses a valuation technique that maximise the use of relevant observable inputs and minimise the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction.

The best estimate of the fair value of a financial instrument on initial recognition is normally the transaction price - i.e. the fair value of the consideration given or received. If the Company determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any unobservable inputs are judged to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price.

Subsequently that difference is recognised in Statement of Profit and Loss on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out.

1.7 Financial Instruments

1.7.1 Financial Assets

1. 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 attribute able to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

2. Subsequent measurement

Subsequent measurement is determined with reference to the classification of the respective financial assets. Based on the business model for managing the financial assets and the contractual cash flow characteristics of the financial asset, the Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit and loss.

a. Debt instruments at amortised cost

A ‘debt instrument’ is measured at the amortised cost if both the following conditions are met:

The asset is held within a business model whose objective is

- To hold assets for collecting contractual cash flows, and

- 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 and fees or costs that are an integral part of the EIR. The EIR amortisation is included in finance income in the Statement of Profit and Loss. The losses arising from impairment are recognised in the Statement of Profit and Loss.

b. Debt instruments at Fair value through Other Comprehensive Income (FVOCI)

A ‘debt instrument’ is measured at the fair value through other comprehensive income if both the following conditions are met: The asset is held within a business model whose objective is achieved by both

- Collecting contractual cash flows and selling financial assets

- Contractual terms of the asset give rise on specified dates to cash flows that are SPPI on the principal amount outstanding.

After initial measurement, these assets are subsequently measured at fair value. Interest income under effective interest method, foreign exchange gains and losses and impairment are recognised in the Statement of Profit and Loss. Other net gains and losses are recognised in other comprehensive Income.

a. Debt instruments at Fair value through profit and loss (FVTPL)

Fair value through profit and loss is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for categorisation as at amortised cost or as FVOCI, is classified as at FVTPL. After initial measurement, any fair value changes including any interest income, foreign exchange gain and losses, impairment loss and other net gains and losses are recognised in the Statement of Profit and Loss.

1.7.2 Financial Liabilities

1. Initial recognition and measurement

Financial liabilities are initially recognised when the Company becomes a party to the contractual provisions of the instrument. All financial liabilities are initially measured at fair value net off, for a financial liability not at fair value through profit and loss, transaction costs that are directly attributable to the respective financial liability.

2. Subsequent measurement

Subsequent measurement is determined with reference to the classification of the respective financial liabilities. The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at fair value through profit and loss.

a. Financial Liabilities measured at amortised cost

After initial recognition, financial liabilities other than tho se which are classified as fair value through profit and loss are subsequently measured at amortised cost using the effective interest rate method (“EIR”).Amortised cost is calculated by taking into account any discount or prem ium and fees or cohts that are an integral part of the EIR. The EIR amortisotion is included as finance cosu^ is the Statement of erofit and Loss.

b. Financial Liabilities at fair value through profit and loss (FVTPL)

A financial liability is classified as at fair value through profit and loss if it is classified as held-for-trading or is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and changes therein, including any interest expense, are recognised in Statement of Profit and Loss.

1.7.3 Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognized. 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 amortisation is included as finance costs in the statement of profit and loss.

1.8 Classification of Assets and Liabilities as Current and Non-Current

All assets and liabilities are classified as current or non-current as per the Company’s normal operating cycle (determined at 12 months) and other criteria set out in Schedule III of the Act.

1.9 Inventories

Inventories comprises of raw materials, stock-in-progress, finished goods and consumable stores. Inventories are valued at cost or estimated net realizable value after providing for obsolescence and other losses, where considered necessary. The cost of inventories comprises of all cost of purchase, cost of conversion and other cost incurred in bringing inventories to their present location and condition. In the case of raw materials, stores and spares, and finished goods, cost is determined on the First-In-First-Out (FIFO) basis.

1.10 Income Tax and Deferred Tax

1. Income-tax Assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, by the end of reporting period.

2. Current Tax items are recognised in correlation to the underlying transaction either in the Statement of Profit and Loss, other comprehensive income or directly in equity.

3. Deferred tax is provided using the Balance Sheet method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

4. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses.

5. 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. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised.

6. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

7. 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.

8. Deferred Tax items are recognised in correlation to the underlying transaction either in the Statement of Profit and Loss, other comprehensive income or directly in equity.

9. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

1.11 Employee Benefits

Liabilities in respect of employee benefits to employees are provided for as follows:

1.11.1 Short-term employee benefits

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be incurred when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

1.11.2 Post Separation Employee Benefit Plans

i. Defined Benefit Plan:

Gratuity Liability is calculated using projected unit credit method as prescribed by IND AS-19. Liability recognised in the Balance Sheet in respect of gratuity is the present value of the defined benefit obligation at the end of each reporting period. The present value of defined benefit is determined by discounting the estimated future cash outflows by reference to market yield on government bonds that have terms approximate to the terms of the related obligation. The interest cost is calculated by applying the discount rate to the Opening Balance of the defined benefit obligation. This cost is included in employee benefit expense in the Statement of Profit and Loss.

ii. Defined Contribution Plans:

Company contributes its share of contribution to Employees Provident Fund in a scheme notified by Central Government and same is recognised in Statement of Profit and Loss Account as Employee Benefits.

1.12 Provisions, Contingent Liability and Contingent Assets

1. Provisions are recognized when there is a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expenses relating to a provision is presented in the Statement of Profit and Loss net of reimbursements, if any.

2. Contingent liabilities are possible obligations whose existence will only be confirmed by future events not wholly within the control of the Company, or present obligations where it is not probable that an outflow of resources will be required or the amount of the obligation cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the financial statements but are disclosed unless the possibility of an outflow of economic resources is considered remote.

1.13 Operating Segments

According to the Ind AS 108, The Company has three segments- Agro, Healthcare and Infrastructure. These segments are categorized based on items that are individually identifiable to that segment. The entity has disclosed information required by it as per PARA 31 of Ind AS-108. Management believes that it is not practical to provide segmental disclosure relating to certain cost and expenses that are not specifically allocable to the segments, & accordingly these expenses are separately disclosed as “Unallocated” & adjusted against the total income of the company.

The Company has identified the Chief Operating Decision Maker (CODM) as its Managing Director.

The CODM reviews the performance of the segments’ business on an overall business.

1.14 Earnings Per Share

Basic Earnings per share is calculated by dividing the net profit 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 for the period attributed to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

1.15 Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, overdrafts with financial institutions, deposits held at call with financial institutions, 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.

1.16 Cash Flows

Cash flows are reported using the indirect method, where by net profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities are segregated.

1.7 Foreign Currency Transactions

1.17.1 Monetary items :

Transactions in foreign currencies are initially recorded at their respective exchange rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognised in Statement of Profit and Loss either as profit or loss on foreign currency transaction.

1.17.2 Non- Monetary items :

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

1.18 Classification of Income / Expenses

1. Prepaid expenses are charged to revenue as and when incurred.

2. Incomes/expenditures in aggregate pertaining to prior year(s) are corrected retrospectively in the first set of financial statements approved for issue after their discovery by restating the comparative amounts and/or restating the opening Balance Sheet.

(b) Capital reserve

Capital Reserve is a fund or account set aside for major long-term investment projects or other anticipated expenses.

© Securities Premium

Securities Premium Reserve is created on recording of premium on issue of shares.

(d) Revaluation Reserve

It was created in accordance with the Company’s policy of measurement of specific classes of Property, Plant and Equipment i.e. Plant & Machinery and Land, by Revaluation model. Revaluation was carried out on 1st April, 2017.

(e) Central Investment Subsidy

It was received to square off bridge loan granted by SICOM of Rs. 12.75 lacs during FY 1991-92. The same was transferred to Retained Earnings on 1st April, 2016 on transition to Ind AS.

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Mar 31, 2013

A. General

The accompanying financial statements have been prepared under the Historical Cost Convention and in accordance with the normally accepted accounting principles.

B. Capital Expenditure/ Fixed Assets

Fixed Assets are stated at historical cost less depreciation. Costs comprise of the purchase price and any cost attributed cost of bringing the asset to working condition for its intended use.

C. Investments Invest mentis are stated at cost.

D. Inventories

Stocks of raw materials, stores, spares, packing materials, chemicals and coal etc. are valued at Cost. Finished goods and stock- in-process are valued at Net Realizable Value.

E. Sales and Purchase

Sales and Purchase are recognized at the time of dispatch/ arrival of goods.

F. Other Income

Income from investments, interest, export incentives, rent etc. are accounted on accrual basis.

G. Prior Period Expenses/ Income

The Company follows the practice of making

adjustments through "Expenses/ Income under/over provided in previous years" in respect of extra ordinary transactions only pertaining to the period prior to current accounting period.

H. Depreciation

Depreciation has been provided as per Straight-line method & at the prescribed rates given under Schedule XIV of the Companies Act, 1956 as amended from time to time. Depreciation on Assets added during the period is provided on pro-rata basis.

I. Revenue and Expenditure Recognition Revenue is recognized when no significant uncertainties as to the measurability or reliability of any claim exist.

J. Retirement Benefits

Contributions to Provident Funds, payment of Gratuity and Leave encashment, as and when arise, are charged to revenue.

K. Deferred Revenue Expenditure

Preliminary & Share Issue Expenses are amortized over a period of Ten years. The expenditure incurred on advertising/ launching of branded consumer products is amortized over a period of Three years from the year of incurring expenditure.

L. Foreign Currency Transaction

Transactions in foreign currency are recorded at rates of exchange in force at the time transactions are effected. Exchange differences are accounted in the year of actual realisation.

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Mar 31, 2012

General

The accompanying financial statements have been prepared under the Historical Cost Convention arid in accordance with the normally accepted accounting principles.

Capital Expenditure/ Fixed Assets

Fixed Assets are stated at historical cost less depreciation. Costs comprise of the purchase price and any cost attributed cost of bringing the asset to working condition for its intended use.

Investments

Investments are stated at cost.

Inventories

Stocks of raw materials, stores, spares, packing materials, chemicals and coal etc. are valued at Cost. Finished goods and stock-in- process are valued at Net Realisable Value.

Sales and Purchase

Sales and Purchase are recognised at the time of dispatch/ arrival of goods.

Other Income

Income from investments, interest, export incentives, rent etc. are accounted on accrual basis.

Prior Period Expenses/ Income

The Company follows the practice of making adjustments through "Expenses/ Income

under/over provided in previous years" in respect of extra ordinary transactions only pertaining to the period prior to current accounting period.

Depreciation

Depreciation has been provided as per Straight-line method & at the prescribed rates given under Schedule XIV of the Companies Act, 1956 as amended from time to time. Depreciation on Assets added during the period is provided on pro-rata basis.

Revenue and Expenditure Recognition

Revenue is recognised when no significant uncertainties as to the measurability or realisability of any claim exist.

Retirement Benefits

Contributions to Provident Funds, payment of Gratuity and Leave encashment, as and when arise, are charged to revenue.

Deferred Revenue Expenditure

Preliminary & Share Issue Expenses are amortized over a period of Ten years. The expenditure incurred on advertising/launching of branded consumer products is amortized over a period of Three years from the year of incurring expenditure.

Foreign Currency Transaction

Transactions in foreign currency are recorded at rates of exchange in force at the time transactions are effected. Exchange differences are accounted in the year of actual realisation.

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Mar 31, 2011

1. General

The accompanying financial statements have been prepared under the Historical* Cost Convention and in accordance with the normally accepted accounting principles.

2. Capital Expenditure/ Fixed Assets

Fixed Assets are stated at historical cost less depreciation. Costs comprise of the purchase price and any cost attributed cost of bringing the asset to working condition for its intended use.

3. Investments Investments are stated at cost.

4. Inventories

Stocks of raw materials, stores, spares, packing materials, chemicals and coal etc. are valued at Cost. Finished goods and stock-in- process are valued at Net Realisable Value.

5. Sales and Purchase

Sales and Purchase are recognised at the time of dispatch/arrival of goods.

6. Other Income

Income from investments, interest, export incentives, rent etc. are accounted on accrual basis.

7. Prior Period Expenses/ Income

The Company follows the practice of making adjustments through "Expenses/ Income under/over provided in previous years" in respect of extra ordinary transactions only pertaining to the period prior to current accounting period.

8. Depreciation

Depreciation has been provided as per Straight-line method & at the prescribed rates given under Schedule XIV of the Companies Act, 1956 as amended from time to time. Depreciation on Assets added during the period is provided on pro-rata basis.

9. Revenue and Expenditure Recognition Revenue is recognised when no significant uncertainties as to the measurability or realisability of any claim exist.

10. Retirement Benefits

Contributions to Provident Funds, payment of Gratuity and Leave encashment, as and when arise, are charged to revenue.

11. Deferred Revenue Expenditure Preliminary & Share Issue Expenses are amortized over a period of Ten years. The expenditure incurred on advertising/launching of branded consumer products is amortized over,a period of Three years from the year of incurring expenditure.

12. Foreign Currency Transaction Transactions in foreign currency are recorded at rates of exchange in force at the time transactions are effected. Exchange differences are accounted in the year of actual realisation.

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Mar 31, 2010

1. General

The accompanying financial statements have been prepared under the Historical Cost Convention and in accordance with the normally accepted accounting principles.

2. Capital Expenditure/ Fixed Assets

Fixed Assets are stated at historical cost less depreciation. Costs comprise of the purchase price and any cost attributed cost of bringing the asset to working condition for its intended use.

3. Investments Investments are stated at cost.

4. Inventories

Stocks of raw materials, stores, spares, packing materials, chemicals and coal etc. are valued at Cost. Finished goods and stock-in- process are valued at Net Realisable Value.

5. Sales and Purchase

Sales and Purchase are recognised at the time of dispatch/ arrival of goods.

6. Other Income

Income from investments, interest, export incentives, rent etc. are accounted on accrual basis.

7. Prior Period Expenses/ Income

The Company follows the practice of making adjustments through "Expenses/ Income under/over provided in previous years" in respect of extra ordinary transactions only pertaining to the period prior to current accounting period.

8. Depreciation

Depreciation has been provided as per Straight-line method & at the prescribed rates given under Schedule XIV of the Companies Act, 1956 as amended from time to time. Depreciation on Assets added during the period is provided on pro-rata basis.

9. Revenue and Expenditure Recognition

Revenue is recognised when no significant uncertainties as to the measurability or realisability of any claim exist.

10. Retirement Benefits

Contributions to Provident Funds, payment of Gratuity and Leave encashment, as and when arise, are charged to revenue.

11. Deferred Revenue Expenditure Preliminary & Share Issue Expenses are amortized over a period of Ten years. The expenditure incurred on advertising/launching of branded consumer products is amortized over a period of Three years from the year of incurring expenditure.

12. Foreign Currency Transaction Transactions in foreign currency are recorded at rates of exchange in force at the time transactions are effected. Exchange differences are accounted in the year of actual realisation.