Accounting Policies of Hind Aluminium Industries Ltd. Company

Mar 31, 2026

1 Company Overview and Material Accounting Policies

Company Overview:

Hind Aluminium Industries Limited (the Company) is a Public Limited Company incorporated in India having its registered office
at Mumbai, Maharashtra, India. The Company is engaged in manufacturing of Wire Rods & Conductors. The company is also in the
business of mining & power generation by setting up Windmills in the State of Maharashtra and Solar Power Plants in the State of
Maharashtra, Karnataka and Rajasthan.

Material Accounting Policies:

a) Statement of Compliance:

These Separate financial statements (also known as Standalone Financial Statements) have been prepared in accordance
with IND AS as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 and subsequent amendments thereto.

b) Basis of preparation

The financial statements have been prepared on the historical cost basis except for following assets and liabilities which
have been measured at fair value amount:

i) Certain financial assets and liabilities (including derivative instruments)

The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the
currency of the primary economic environment in which the Company operates.

Whenever the company changes the presentation or classification of items in its financial statements materially, the
companyreclassifies comparative amounts, unless impracticable. No such material reclassification has been made
during the year.

The financial statements of the Company for the year ended 31st March, 2026 were authorised for issue in accordance
with a resolution of the board of directors on 28th May 2026.

c) Property, Plant and Equipment (PPE)

The Company has elected to continue with the carrying value of Property, Plant and Equipment (‘PPE’) recognised as of
transition date measured as per the Previous GAAP and use that carrying value as its deemed cost of the PPE.

The initial cost of PPE comprises its purchase price, including import duties and non-refundable purchase taxes, and any
directly attributable costs of bringing an asset to working condition and location for its intended use, including relevant
borrowing costs and any expected costs of decommissioning, less accumulated depreciation and accumulated impairment
losses, if any. Expenditure incurred after the PPE have been put into operation, such as repairs and maintenance, are charged
to the Statement of Profit and Loss in the period in which the costs are incurred.

If significant parts of an item of PPE have different useful lives, then they are accounted for as separate items (major
components) of PPE.

Material items such as spare parts, stand-by equipment and service equipment are classified as PPE when they meet the
definition of PPE as specified in Ind AS 16 - Property, Plant and Equipment.

Expenses incurred relating to project, net of income earned during the project development stage prior to its intended use,
are considered as pre - operative expenses and disclosed under Capital Work - in - Progress.

d) Depreciation

Depreciation on property, plant and equipment is provided using straight line method based on useful life of the assets as
prescribed in Schedule II to the Companies Act, 2013.

The depreciable amount of an asset is determined after deducting its residual value. Where the residual value of an asset
increases to an amount equal to or greater than the asset’s carrying amount, no depreciation charge is recognised till the
asset’s residual value decreases below the asset’s carrying amount. Depreciation of an asset begins when it is available
for use, i.e., when it is in the location and condition necessary for it to be capable of operating in the intended manner.
Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale in accordance with IND AS
105 and the date that the asset is derecognised.

Depreciation on property plant and equipment added/disposed off during the year is provided on pro rata basis with
reference to the date of addition/disposal.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial
year end and adjusted prospectively, if appropriate.

Gains or losses arising from derecognition of a property, plant and equipment are measured as the difference between the
net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the
asset is derecognised.

e) Intangible Assets

(i) Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less accumulated
amortisation/depletion and impairment loss, if any. Such cost includes purchase price, borrowing costs, and any cost
directly attributable to bringing the asset to its working condition for the intended use, net charges on foreign exchange
contracts and adjustments arising from exchange rate variations attributable to the intangible assets.

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

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when
the asset is derecognised.

(ii) Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortisation
and accumulated impairment, if any. The Company determines the amortisation period as the period over which the
future economic benefits will flow to the Company after taking into account all relevant facts and circumstances. The
estimated useful life and amortisation method are reviewed periodically, with the effect of any changes in estimate
being accounted for on a prospective basis.

(iii) Licensed Software is amortised prorata, on straight line basis over the estimated useful life of the asset which is
estimated at 3 years.

f) Impairment of non-financial assets - property, plant and equipment and intangible assets

The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment
and intangible assets or group of assets, called cash generating units (CGU) may be impaired. If any such indication exists the
recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to
estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which
the asset belongs.

An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset’s carrying amount exceeds its
recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in use. Value in
use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects
current market assessments of the time value of money and risk specific to the assets.

The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of
recoverable amount.

g) Inventories

Raw materials, components, stores and spares are valued at lower of cost and net realizable value. However materials and
other items held for use in the production of inventories are not written down below cost if the finished products in which
they will be incorporated are expected to be sold at or above cost. Cost of raw materials, components and stores and spares
is determined on a first in first out (FIFO) method.

Work-in-progress and finished goods are valued at lower of cost and net realizable value. Cost includes direct materials and
labour and a proportion of manufacturing overheads based on normal operating capacity.

Net realizable value is the estimated selling prince in the ordinary course of business, less estimated costs of completion and
estimated costs necessary to make the sale.

h) Borrowing Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are regarded as an
adjustment to the interest cost. Borrowing costs that are directly attributable to the acquisition or construction of qualifying
assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of
time to get ready for its intended use.

Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets
is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.

i) Provision, Contingent Liabilities and Contingent Assets

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event and
it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.

If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows
to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of
money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognized in the Statement of
Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best
estimate.

A present obligation that arises from past events where it is either not probable that an outflow of resources will be required
to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are
also disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by
the occurrence or non -occurrence of one or more uncertain future events not wholly within the control of the Company.
Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as
contingent liabilities.

Contingent assets are not recognized in financial statements since this may result in the recognition of income that may
never be realized.

However, when the realization of income is virtually certain, then the related asset is not a contingent asset and is recognized.

j) Revenue Recognition

Revenue is measured based on the transaction price, which is the consideration, adjusted for turnover discounts to
customer as specified in the contract with the customers. When the level of discount varies with increase in levels of revenue
transactions, the Company recognises the liability based on its estimate of the customer’s future purchases. If it is probable
that the criteria for the discount will not be met, or if the amount thereof cannot be estimated reliably, then discount is not
recognised until the payment is probable and the amount can be estimated reliably. The Company recognises changes in
the estimated amount of obligations for discounts in the period in which the change occurs. Revenue also excludes taxes
collected from customers.

Revenue from sale of goods is recognized when the significant risks and rewards of ownership have been transferred to
the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably, there is no continuing
effective control or managerial involvement with the goods, and the amount of revenue can be measured reliably.

Revenue from rendering of services is recognized when the performance of agreed contractual task has been completed.
Revenue from sale of goods is measured at the fair value of the consideration received or receivable, taking into account
contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.

Dividend income is recognized when the company’s right to receive dividend is established by the reporting date.

k) Leases

A right-of-use asset representing the right to use the underlying asset and a lease liability representing the obligation to
make lease payments is recognized for all leases over 1 year on initial recognition basis. Discounted committed & expected
future cash flows and depreciation on the asset portion on straight-line basis & interest on liability portion (net of lease
payments) on EIR basis is recognized over the expected lease term. No right-of-use asset is created for short term leases (i.e.
lease term less than 1 year) and leases of low value items (i.e. lease of less than Rs.1 lakh).

l) Retirement and other employee benefits
Short Term Employee Benefits

All employee benefits payable wholly within twelve months of rendering the service are classified as short- term employee
benefits. These benefits include short term compensated absences such as paid annual leave. The undiscounted amount
of short-term employee benefits expected to be paid in exchange for the services rendered by employees is recognised as
an expense during the period. Benefits such as salaries and the expected cost of the bonus/ex-gratia are recognised in the
period in which the employee renders the related service.

Post-employment employee benefits

a) Defined contribution schemes

All the eligible employees of the Company who have opted to receive benefits under the Provident Fund and Employees
State Insurance scheme, defined contribution plans in which both the employee and the Company contribute monthly
at a stipulated rate. The Company has no liability for future benefits other than its annual contribution and recognises
such contributions as an expense in the period in which employee renders the related service. If the contribution
payable to the scheme for service received before the Balance Sheet date exceeds the contribution already paid, the
deficit payable to the scheme is recognised as a liability after deducting the contribution already paid. If the contribution
already paid exceeds the contribution due for services received before the Balance Sheet date, then excess is recognised
as an asset to the extent that the pre-payment will lead to, for example, a reduction in future payment or a cash refund.

b) Defined Benefit schemes

The Company provides for the gratuity, a defined benefit retirement plan covering all employees. The plan provides for
lump sum payments to employees upon death while in employment or on separation from employment after serving
for the stipulated years mentioned under ‘The Payment of Gratuity Act, 1972’. The present value of the obligation under
such defined benefit plan is determined based on actuarial valuation, carried out by an independent actuary at each
Balance Sheet date, using the Projected Unit Credit Method, which recognizes each period of service as giving rise to an
additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

The obligation is measured at the present value of the estimated future cash flows. The discount rates used for
determining the present value of the obligation under defined benefit plan are based on the market yields on
Government Securities as at the Balance Sheet date.

Net interest recognized in profit or loss is calculated by applying the discount rate used to measure the defined benefit
obligation to the net defined benefit liability or asset. The actual return on the plan assets above or below the discount
rate is recognized as part of re-measurement of net defined liability or asset through other comprehensive income. An
actuarial valuation involves making various assumptions that may differ from actual developments in the future. These
include the determination of the discount rate, attrition rate, future salary increases and mortality rates. Due to the
complexities involved in the valuation and its long-term nature, these liabilities are highly sensitive to changes in these
assumptions. All assumptions are reviewed at each reporting date.

Re-measurement, comprising of actuarial gains and losses and the return on plan assets (excluding amounts included
in net interest on the net defined benefit liability), are recognized immediately in the balance sheet with a corresponding
debit or credit to retained earnings through OCI in the period in which they occur. Re-measurements are not reclassified
to profit and loss in subsequent periods.

m) Income Taxes

Income Tax expenses comprise current tax and deferred tax charge or credit.

Current Tax is measured on the basis of estimated taxable income for the current accounting period in accordance with the
applicable tax rates and the provisions of the Income-tax Act, 1961 and other applicable tax laws.

Deferred tax is provided, on all temporary differences at the reporting date between the tax bases of assets and liabilities
and their carrying amounts for financial reporting purposes. Deferred tax assets and liabilities are measured at the tax rates
that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or
substantively enacted at the reporting date. Tax relating to items recognized directly in equity or OCI is recognized in equity
or OCI and not in the Statement of Profit and Loss. MAT Credits are in the form of unused tax credits that are carried forward
by the Company for a specified period of time, hence it is grouped with Deferred Tax Asset.

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and
they relate to income taxes levied by the same tax authority, but they intend to settle current tax liabilities and assets on a
net basis or their tax assets and liabilities will be realized simultaneously.

A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which
the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the
extent that it is no longer probable.

n) Earnings Per Share

The basic Earnings Per Share (“EPS”) is computed by dividing the net profit / (loss) after tax for the year attributable
to the equity shareholders by the weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, net profit/(loss) after tax for the year attributable to the equity
shareholders and the weighted average number of equity shares outstanding during the year are adjusted for the effects of
all dilutive potential equity shares.

o) Foreign Currency Transactions

In preparing the financial statements of the Company, transactions in currencies other than the Company’s functional
currency (i.e. foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions. At the
end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at
that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates
prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost
in a foreign currency are translated using the exchange rate as at the date of initial transactions.

Exchange differences on monetary items are recognized in the Statement of Profit and Loss in the period in which they arise
except for:

• exchange differences on foreign currency borrowings relating to assets under construction for future productive use,
which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those
foreign currency borrowings;

• exchange differences relating to qualifying effective cash flow hedges and qualifying net investment hedges in foreign
operations.

p) Investment in Subsidiaries, Associates

The Company’s investment in its Subsidiary is carried at cost.

q) Financial Instruments

Financial assets and financial liabilities are recognized when a Company becomes a party to the contractual provisions of the
instruments.

Initial Recognition:

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables which are initially
measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets
and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss and ancillary
costs related to borrowings) are added to or deducted from the fair value of the financial assets or financial liabilities, as
appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial
liabilities at fair value through profit or loss are recognized immediately in Statement of Profit and Loss.

Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortized cost, fair value through other comprehensive
income (“FVOCI”) or fair value through profit or loss (“FVTPL”) on the basis of following:

• the entity’s business model for managing the financial assets; and

• the contractual cash flow characteristics of the financial asset.

Amortized Cost:

A financial asset shall be classified and measured at amortized cost if both of the following conditions are met:

• the financial asset is held within a business model whose objective is to hold financial assets in order to collect
contractual cash flows; and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

Fair Value through OCI:

A financial asset shall be classified and measured at fair value through OCI if both of the following conditions are met:

• the financial asset is held within a business model whose objective is achieved by both collecting contractual cash
flows and selling financial assets; and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

Fair Value through Profit or Loss:

A financial asset shall be classified and measured at fair value through profit or loss unless it is measured at amortized cost
or at fair value through OCI.

All recognized financial assets are subsequently measured in their entirety at either amortized cost or fair value, depending
on the classification of the financial assets.

Classification and Subsequent Measurement: Financial liabilities:

Financial liabilities are classified as either financial liabilities at FVTPL or ‘other financial liabilities’.

Financial Liabilities at FVTPL:

Financial liabilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial
recognition as FVTPL.

Gains or Losses on liabilities held for trading are recognized in the Statement of Profit and Loss.

Other Financial Liabilities:

Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortized cost
using the effective interest method.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest
expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments
(including all fees and points 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.

r) Cash and Cash Equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks that
are readily convertible into cash which are subject to insignificant risk of changes in value and are held for the purpose of
meeting short-term cash commitments.

s) Financial liabilities and equity instruments

• Classification as debt or equity:

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 definitions of a financial liability and an equity instrument.

• Equity instruments:

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities. Equity instruments issued by a Company are recognized at the proceeds received.

t) Derivative financial instruments

The Company enters into derivative financial instruments viz. foreign exchange forward contracts to manage its exposure to
foreign exchange rate risks. The Company does not hold derivative financial instruments for speculative purposes.
Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently
remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss
immediately excluding derivatives designated as cash flow hedge.

u) Hedge accounting

The Company designates certain hedging instruments in respect of foreign currency risk as cash flow hedges. At the inception
of the hedge relationship, the entity documents the relationship between the hedging instrument and the hedged item,
along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the
inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is highly effective
in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk.

The effective portion of changes in the fair value of the designated portion of derivatives that qualify as cash flow hedges is
recognized in other comprehensive income and accumulated under equity. The gain or loss relating to the ineffective portion
is recognized immediately in profit or loss.

Amounts previously recognized in other comprehensive income and accumulated in equity relating to effective portion as
described above are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line
as the recognized hedged item. However, when the hedged forecast transaction results in the recognition of a non-financial
asset or a non-financial liability, such gains and losses are transferred from equity and included in the initial measurement
of the cost of the non-financial asset or non-financial liability.

Hedge accounting is discontinued prospectively when the hedging instrument expires or is sold, terminated, or exercised, or
when it no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income and accumulated
in equity at that time remains in equity and is recognized when the forecast transaction is ultimately recognized in profit
or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized
immediately in profit or loss.

v) Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which it may earn revenues
and incur expenses, whose operating results are regularly reviewed by the company’s chief operating decision maker to
make decisions for which discrete financial information is available. Based on the management approach as defined in
Ind AS 108, the chief operating decision maker evaluates the Company’s performance and allocates resources based on an
analysis of various performance indicators by business segments and geographic segments.

w) Fair Value Measurement

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, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the
characteristics of asset and liability if market participants would take those into consideration. Fair value for measurement
and / or disclosure purposes in these Financial Statements is determined on such basis. Normally at initial recognition, the
transaction price is the best evidence of fair value.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing
the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
in its highest and best use.

The Company uses valuation techniques those are appropriate in the circumstances and for which sufficient data are
available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable
inputs.

All financial assets and financial liabilities for which fair value is measured or disclosed in the Financial Statements are
categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable.

Level 3—Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
Financial assets and financial liabilities that are recognized at fair value on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each reporting
period.

x) Current versus Non-current classification

The Company presents assets and liabilities in the Balance Sheet based on current/non-current classification.

i) An asset is current when it is:

• Expected to be realized or intended to be sold or consumed in the 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.

ii) A liability is current when:

• It is expected to be settled in the 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.

All other liabilities are classified as non-current.

iii) Deferred tax assets and liabilities are classified as non-current assets and liabilities.

iv) The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the Company’s financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Key assumptions:

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have
a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
year, are described below. The Company based its assumptions and estimates on parameters available when the financial
statements were prepared. Existing circumstances and assumptions about future developments, however, may change due
to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the
assumptions when they occur.

i) Useful Lives of Property, Plant & Equipment

The Company uses its technical expertise along with historical and industry trends for determining the economic life of
an asset/component of an asset. The useful lives are reviewed by management periodically and revised, if appropriate.
In case of a revision, the unamortized depreciable amount is charged over the remaining useful life of the assets.

ii) Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based
on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted
Cash Flow model. The inputs to these models are taken from observable markets where possible, but where this is not
feasible, a degree of judgements is required in establishing fair values. Judgements include considerations of inputs
such as liquidity risk, credit risk and volatility.

iii) Defined benefit plans

The cost of the defined benefit gratuity plan and other post-employment medical benefits and the present value of
the gratuity obligation are determined using actuarial valuations. An actuarial valuation involves making various
assumptions that may differ from actual developments in the future. These include the determination of the discount
rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term
nature.

iv) Recoverability of trade receivable

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a
provision against those receivables is required. Factors considered include the credit rating of the counterparty, the
amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of
non-payment.

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Mar 31, 2025

Material Accounting Policies:

a) Statement of Compliance:

These Separate financial statements (also known as Standalone Financial Statements) have been prepared in accordance
with IND AS as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 and subsequent amendments thereto.

b) Basis of preparation

The financial statements have been prepared on the historical cost basis except for following assets and liabilities which
have been measured at fair value amount:

i) Certain financial assets and liabilities (including derivative instruments)

The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the
currency of the primary economic environment in which the Company operates.

Wheneverthe company changesthe presentation orclassification ofitemsin its financial statementsmaterially, the company
reclassifies comparative amounts, unless impracticable. No such material reclassification has been made during the year.
The financial statements of the Company for the year ended 31st March, 2025 were authorised for issue in accordance
with a resolution of the board of directors on 21st May 2025"

c) Property, Plant and Equipment (PPE)

The Company has elected to continue with the carrying value of Property, Plant and Equipment (‘PPE’) recognised as of
transition date measured as per the Previous GAAP and use that carrying value as its deemed cost of the PPE.

The initial cost of PPE comprises its purchase price, including import duties and non-refundable purchase taxes, and any
directly attributable costs of bringing an asset to working condition and location for its intended use, including relevant
borrowing costs and any expected costs of decommissioning, less accumulated depreciation and accumulated impairment
losses, if any. Expenditure incurred after the PPE have been put into operation, such as repairs and maintenance, are charged
to the Statement of Profit and Loss in the period in which the costs are incurred.

If significant parts of an item of PPE have different useful lives, then they are accounted for as separate items (major
components) of PPE.

Material items such as spare parts, stand-by equipment and service equipment are classified as PPE when they meet the
definition of PPE as specified in Ind AS 16 - Property, Plant and Equipment.

Expenses incurred relating to project, net of income earned during the project development stage prior to its intended use,
are considered as pre - operative expenses and disclosed under Capital Work - in - Progress.

d) Depreciation

Depreciation on property, plant and equipment is provided using straight line method based on useful life of the assets as
prescribed in Schedule II to the Companies Act, 2013.

The depreciable amount of an asset is determined after deducting its residual value. Where the residual value of an asset
increases to an amount equal to or greater than the asset’s carrying amount, no depreciation charge is recognised till the
asset’s residual value decreases below the asset’s carrying amount. Depreciation of an asset begins when it is available
for use, i.e., when it is in the location and condition necessary for it to be capable of operating in the intended manner.
Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale in accordance with IND AS
105 and the date that the asset is derecognised.

Depreciation on property plant and equipment added/disposed off during the year is provided on pro rata basis with
reference to the date of addition/disposal.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial
year end and adjusted prospectively, if appropriate.

Gains or losses arising from derecognition of a property, plant and equipment are measured as the difference between the
net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the
asset is derecognised.

e) Intangible Assets

(i) Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less accumulated
amortisation/depletion and impairment loss, if any. Such cost includes purchase price, borrowing costs, and any cost
directly attributable to bringing the asset to its working condition for the intended use, net charges on foreign exchange
contracts and adjustments arising from exchange rate variations attributable to the intangible assets.

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

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when
the asset is derecognised.

(ii) Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortisation
and accumulated impairment, if any. The Company determines the amortisation period as the period over which the
future economic benefits will flow to the Company after taking into account all relevant facts and circumstances. The
estimated useful life and amortisation method are reviewed periodically, with the effect of any changes in estimate
being accounted for on a prospective basis.

(iii) Licensed Software is amortised prorata, on straight line basis over the estimated useful life of the asset which is
estimated at 3 years.

f) Impairment of non-financial assets - property, plant and equipment and intangible assets

The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment
and intangible assets or group of assets, called cash generating units (CGU) may be impaired. If any such indication exists the
recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to
estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which
the asset belongs.

An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset’s carrying amount exceeds its
recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in use. Value in
use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects
current market assessments of the time value of money and risk specific to the assets.

The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of
recoverable amount.

g) Inventories

Raw materials, components, stores and spares are valued at lower of cost and net realizable value. However materials and
other items held for use in the production of inventories are not written down below cost if the finished products in which
they will be incorporated are expected to be sold at or above cost. Cost of raw materials, components and stores and spares
is determined on a first in first out (FIFO) method.

Work-in-progress and finished goods are valued at lower of cost and net realizable value. Cost includes direct materials and
labour and a proportion of manufacturing overheads based on normal operating capacity.

Net realizable value is the estimated selling prince in the ordinary course of business, less estimated costs of completion and
estimated costs necessary to make the sale.

h) Borrowing Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are regarded as an
adjustment to the interest cost. Borrowing costs that are directly attributable to the acquisition or construction of qualifying
assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of
time to get ready for its intended use.

Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets
is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.”

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Mar 31, 2024

Material Accounting Policies:

a) Statement of Compliance:

These Separate financial statements (also known as Standalone Financial Statements) have been prepared in accordance with IND AS as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and subsequent amendments thereto.

b) Basis of preparation

The financial statements have been prepared on the historical cost basis except for following assets and liabilities which have been measured at fair value amount:

i) Certain financial assets and liabilities (including derivative instruments)

The financial statements are presented in Indian Rupees, which is the functional currency of the Company and the currency of the primary economic environment in which the Company operates.

Whenever the company changes the presentation or classification of items in its financial statements materially, the company reclassifies comparative amounts, unless impracticable. No such material reclassification has been made during the year.

The financial statements of the Company for the year ended 31st March, 2024 were authorised for issue in accordance with a resolution of the board of directors on 22nd June 2024.

d) Property, Plant and Equipment (PPE)

The Company has elected to continue with the carrying value of Property, Plant and Equipment (‘PPE’) recognised as of transition date measured as per the Previous GAAP and use that carrying value as its deemed cost of the PPE.

The initial cost of PPE comprises its purchase price, including import duties and non-refundable purchase taxes, and any directly attributable costs of bringing an asset to working condition and location for its intended use, including relevant borrowing costs and any expected costs of decommissioning, less accumulated depreciation and accumulated impairment losses, if any. Expenditure incurred after the PPE have been put into operation, such as repairs and maintenance, are charged to the Statement of Profit and Loss in the period in which the costs are incurred.

If significant parts of an item of PPE have different useful lives, then they are accounted for as separate items (major components) of PPE.

Material items such as spare parts, stand-by equipment and service equipment are classified as PPE when they meet the definition of PPE as specified in Ind AS 16 - Property, Plant and Equipment.

Expenses incurred relating to project, net of income earned during the project development stage prior to its intended use, are considered as pre - operative expenses and disclosed under Capital Work - in - Progress.

e) Depreciation

Depreciation on property, plant and equipment is provided using straight line method based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

The depreciable amount of an asset is determined after deducting its residual value. Where the residual value of an asset increases to an amount equal to or greater than the asset’s carrying amount, no depreciation charge is recognised till the asset’s residual value decreases below the asset’s carrying amount. Depreciation of an asset begins when it is available for use, i.e., when it is in the location and condition necessary for it to be capable of operating in the intended manner. Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale in accordance with IND AS 105 and the date that the asset is derecognised.

Depreciation on property plant and equipment added/disposed off during the year is provided on pro rata basis with reference to the date of addition/disposal.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

Gains or losses arising from derecognition of a property, plant and equipment are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.

f) Intangible Assets

(i) Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less accumulated amortisation/depletion and impairment loss, if any. Such cost includes purchase price, borrowing costs, and any cost directly attributable to bringing the asset to its working condition for the intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the intangible assets.

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

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.

(ii) Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment, if any. The Company determines the amortisation period as the period over which the future economic benefits will flow to the Company after taking into account all relevant facts and circumstances. The estimated useful life and amortisation method are reviewed periodically, with the effect of any changes in estimate being accounted for on a prospective basis.

(iii) Licensed Software is amortised prorata, on straight line basis over the estimated useful life of the asset which is estimated at 3 years.

g) Impairment of non-financial assets - property, plant and equipment and intangible assets

The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment and intangible assets or group of assets, called cash generating units (CGU) may be impaired. If any such indication exists the recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which the asset belongs.

An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset’s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specific to the assets.

The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

h) Inventories

Raw materials, components, stores and spares are valued at lower of cost and net realizable value. However materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost of raw materials, components and stores and spares is determined on a first in first out (FIFO) method.

Work-in-progress and finished goods are valued at lower of cost and net realizable value. Cost includes direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity.

Net realizable value is the estimated selling prince in the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale.

i) Borrowing Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs that are directly attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use.

Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.

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Mar 31, 2018

Note : 1 -Significant Accounting Policies

1. Statement of Compliance

These financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) to comply with Section 133 of the Companies Act, 2013 (“the 2013 Act”), and the relevant provisions of the 2013 Act/ Companies Act 1956 (“the 1956 Act”), as applicable. For all periods up to and for the year ended 31 March 2017, the Company’s has prepared its financial statements in accordance with accounting standards notified under the section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (Indian GAAP). These financial statements are the Company’s first Ind AS financial statements and are covered by Ind AS 101, First-time adoption of Indian Accounting Standards (Ind AS 101). The transition to Ind AS has been carried out from the accounting principles generally accepted in India (“Indian GAAP”) which is considered as the “Previous GAAP” for purposes of Ind AS 101. An explanation of how the transition to Ind AS has affected the Company’s equity and its net profit is provided in Note 43.

2 Basis of measurement

All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis, except Income by way of dividend and Expense by way of leave encashment which is accounted on cash basis.

3 Presentation of financial statements :

The Balance Sheet and the Statement of Profit and Loss are prepared and presented in the format prescribed in the Schedule

III of the Companies Act, 2013 ( the “Act”). The statement of cash flows has been prepared and presented as per the requirements of Ind AS 7 “Statement of Cash flows”. The disclosure requirements with respect to items in the Balance Sheet and Statement of Profit and Loss, as prescribed in the Schedule III to the Act, are presented by way of notes froming part of the financial statements along with the other notes required to be disclosed under the notified Accounting Standards and the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

4 Use of Estimates :

The preparation of Financial Statements is in conformity with the IND AS which requires , the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

5 Sales :

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty / late delivery charges and include sale of Scraps, Excise Duty, Goods and Services Tax and price variation but net of Sales Returns.

6 Property, plant and equipment and Depreciation :

i) All fixed assets are valued at cost less depreciation.The cost is inclusive of incidental expenses related to acquisition and put to use. Pre-operative expenses including trial run expenses (net of revenue) are capitalised. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

ii) Impairment loss, if any is recognised in the year in which impairment takes place.

iii) Depreciation on Fixed Assets is provided on Straight Line Method at the rate and in the manner specified in Schedule II of the Companies Act, 2013.

iv) Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the period during which assets are put to use.

7 Intangible Assets

Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the asset will flow to the enterprise and the cost of the asset can be measured reliably.

8 Expenditure during the Construction Period :

The expenditure incidental to the expansion / new projects are allocated to Fixed Assets in the year of commencement of the commercial production.

9 Operating cycle for current and non-current classification

Operating cycle for the business activities of the company covers the duration of the specific project/contract/product line/ service including the defect liability period wherever applicable and extends up to the realisation of receivables (including retention monies) within the agreed credit period normally applicable to the respective lines of business.

10 Inventories :

Raw Materials, Stores & Spare Parts, Packing Materials, Finished Goods and Semi Finished Goods are valued at lower of cost and net realisable value.

11 Cash and Cash Equivalents

Cash and cash equivalent in balance sheet comprise cash at banks, cash on hand and short term deposits with original maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash at banks, cash on hand, short term deposits and Bank overdrafts.

12 Revenue Recognition :

Sale of Goods & Services

i) Revenue from Sale of goods is recognised when significant risks and rewards of ownership of the goods have been passed to the buyer.

ii) Service income is recognised as per the terms of contracts with the customers when the related services are performed or the agreed milestones are achieved and are net of service tax wherever applicable.

iii) Dividend income is recognised when the unconditional right to receive the income is established.

iv) Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

Lease Income

The Company is receiving the rent as per the agreement for lease executed with the respective lessee. The rent is fixed from the date of execution of lease agreements. The same is received/collected year after year. No renewal of agreements is executed. However the rent income continues to be received/collected at the original rate till date.

13 Retirement Benefits :

i) Defined Benefit Plans :

The gratuity scheme is administered through the Life Insurance Corporation of India. Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

ii) Leave Liability :

The employees of the company are entitled to leave as per the leave policy of the company. The liability on account of accumulated leave as on last day of the accounting year is not recognised.

14 Employee Separation Costs :

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the year of payment.

15 Transaction in Foreign Currency

Transaction in Foreign Currency are recorded at the rate of exchange in force on the respective date of such contracted rates.

Exchange difference on repayment/conversion/transaction are adjusted to

i) Carrying cost of fixed assets, if foreign currency liability relates to fixed assets.

ii) the Profit & Loss account in other cases.

iii) Monetary assets and liabilities denominated in foreign currencies are translated into functional currency at the exchange rate at the reporting date.

iv) Non-monetary items that are measured based on historical cost in a foreign currency are not translated.

16 Provision for Bad & Doubtful Debts :

Provision, if any, is made in accounts for bad and doubtful debts / advances which in the opinion of the management are considered doubtful of recovery.

17 Deferred Tax :

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainty that the assets can be realised in future.

18 Excise Duty / GST :

Excise Duty / GST is accounted gross of Cenvat benefit availed on inputs, fixed assets and eligible services.

19 Investments :

Investments are stated at cost.

20 Accounting and reporting of information for Operating Segments

Operating segments are those components of the business whose operating results are regularly reviewed by the management of the company to make decisions for performance assessment and resource allocation. Segment accounting policies are in line with the accounting policies of the company. In addition, the following specific accounting policies have been followed for segment reporting:

i) Segment revenue includes sales and other operational revenue directly identifiable with/allocable to the segment.

ii) Expenses that are directly identifiable with/allocable to segments are considered for determining the segment result.

iii) Income which relates to the company as a whole and not allocable to segments is included in “unallocable corporate income”.

iv) Segment assets and liabilities include those directly identifiable with the respective segments.

21 Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision /disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

22 Commitments

Commitments are future liabilities for contractual expenditure, classified and disclosed as follows:

a) estimated amount of contracts remaining to be executed on capital account and not provided for;

b) uncalled liability on shares and other investments partly paid;

c) funding related commitment to subsidiary, associate and joint venture companies; and

d) other non-cancellable commitments, if any, to the extent they are considered material and relevant in the opinion of management. Other commitments related to sales/procurements made in the normal course of business are not disclosed to avoid excessive details

23 Lease Payments

The Company is paying the rent as per the agreement for lease executed with the respective lessee. The rent is fixed from the date of execution of lease agreements. The same is received/collected year after year. No renewal of agreements is available for our verification. However the rent income continues to be received/collected at the original rate till date.

24 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from operating activities is reported using indirect method, adjusting the net profit for the effects of:

i) Changes during the period in inventories and operating receivables and payables transactions of a non-cash nature;

ii) Non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign currency gains and losses, and undistributed profits of associates; and

iii) All other items are considered as either investing or financing cash flows.

25 Earnings per Share

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

26 First time adoption of Ind AS

The company has prepared opening Balance Sheet as per Ind AS as of April 1, 2016 (transition date) by recognising all assets and liabilities whose recognistion is required by Ind AS, derecognising items of assets or liabilities which are not permitted to be recognised by Ind AS, reclassifying items from I-GAAP to Ind AS as required, and applying Ind AS to measure the recognised assets and liabilities. The exemptions availed by the company under Ind AS 101 are as follows:

i) The company has adopted the carrying value determined in accordance with I-GAAP for all of its property plant & equipment and investment property as deemed cost of such assets at the transition date.

ii) The estimates as at April 1, 2016 and at March 31, 2017 are consistent with those made for the same dates in accordance with I-GAAP.

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Mar 31, 2016

1 Basis of Accounting :

All financial items of Income and Expenditure having a material bearing on the financial statement are recognized on accrual basis, except Income by way of dividend and Expense by way of leave encashment which is accounted on cash basis.

2 Sales :

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty / late delivery charges and include sale of Scraps, Excise Duty and price variation but net of Sales Returns. In the case of Mining division Sales include Royalty.

3 Use of Estimates :

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognized prospectively in current and future periods.

4 Fixed Assets and Depreciation :

i) All fixed assets are valued at cost less depreciation. The cost is inclusive of incidental expenses excluding excise related to acquisition and put to use. Pre-operative expenses including trial run expenses (net of revenue) are capitalized. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

ii) Impairment loss ,if any is recognized in the year in which impairment takes place.

iii) Depreciation on Fixed Assets is provided on Straight Line Method at the rate and in the manner specified in Schedule II of the Companies Act, 2013.

iv) Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the period during which assets are put to use.

5 Expenditure during the Construction Period :

The expenditure incidental to the expansion / new projects are allocated to Fixed Assets in the year of commencement of the commercial production.

6 Investments :

i) Long term and strategic investments are stated at cost.

ii) Current investments, if any, are stated at cost.

iii) Investments in shares of foreign joint venture/subsidiary and other Companies are expressed in Indian Currency at the rate of exchange prevailing at the time when the original investments were made.

7 Inventories :

Raw Materials, Stores & Spare Parts, Packing Materials, Finished Goods and Semi Finished Goods are valued at lower of cost and net realizable value.

8 Revenue Recognition :

i) Revenue from Sale of goods is recognized when significant risks and rewards of ownership of the goods have been passed to the buyer.

ii) Service income is recognized as per the terms of contracts with the customers when the related services are performed or the agreed milestones are achieved and are net of service tax wherever applicable.

iii) Dividend income is recognized when the unconditional right to receive the income is established.

iv) Revenue in respect of other income is recognized when no significant uncertainty as to its determination or realization exists.

9 Foreign Currency Transactions :

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the yearend /contracted rates.

Exchange difference on repayment/conversion/translation are adjusted to

(i) Carrying Cost of fixed assets, if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

10 Excise Duty :

Excise Duty is accounted gross of Cenvat benefit availed on inputs, fixed assets and eligible services.

11 Retirement Benefits :

i) Defined Benefit Plans :

The gratuity scheme is administered through the Life Insurance Corporation of India. Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

ii) Leave Liability :

The employees of the company are entitled to leave as per the leave policy of the company. The liability on account of accumulated leave as on last day of the accounting year is not recognized.

12 Employee Separation Costs :

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the year of payment.

13 Provision for Bad and Doubtful Debts / Advances :

No Provision is made in accounts for bad and doubtful debts / advances which in the opinion of the management are considered doubtful of recovery.

14 Deferred Tax:

Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.

15 Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognized when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognized in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

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Mar 31, 2015

1 Basis of Accounting:

All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis, except Income by way of dividend and Expense by way of leave encashment which is accounted on cash basis.

2 Sales:

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty / late delivery charges and include sale of Scraps, Excise Duty and price variation but net of Sales Returns. In the case of Mining division Sales include Royalty.

3 Use of Estimates:

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

4 Fixed Assets and Depreciation:

i) All fixed assets are valued at cost less depreciation.The cost is inclusive of incidental expenses exculding excise related to acquisition and put to use. Pre-operative expenses including trial run expenses (net of revenue) are capitalised. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

ii) Impairement loss ,if any is recognised in the year in which impairement takes place.

iii) Pursuant to the enactment of Companies Act, 2013, the company has applied the estimated useful lives as specified in Schedule II. Accordingly the unamortised carrying value is being depreciated/ amortised on straight line basis so as to write off the cost of the assets over the revised/remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1 st April 2014 have been adjusted, in the opening balance of Profit and Loss Account amounting to Rs.29,90,447/-

iv) Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the period during which assets are put to use.

5 Expenditure during the Construction Period:

The expenditure incidental to the expansion / new projects are allocated to Fixed Assets in the year of commencement of the commercial production.

6 Investments:

i) Long term and strategic investments are stated at cost.

ii) Current investments, if any, are stated at cost.

iii) Investments in shares of foreign subsidiary and other Companies are expressed in Indian Currency at the rates of exchange prevailing at the time when the original investments were made.

7 Inventories: -

Raw Materials, Stores & Spare Parts, Packing Materials, Finished Goods and Semi Finished Goods are valued at lower of cost and net realisable value.

8 Revenue Recognition:

i) Revenue from Sale of goods is recognised when significant risks and rewards of ownership of the goods have been passed to the buyer.

ii) Service income is recognised as per the terms of contracts with the customers when the related services are performed or the agreed milestones are achieved and are net of service tax wherever applicable.

iii) Dividend income is recognised when the unconditional right to receive the income is established.

iv) Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

9 Foreign Currency Transactions:

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the year end /contracted rates.

Exchange difference on repayment/conversion/translation are adjusted to

(i) Carrying Cost of fixed assets,if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

10 Excise Duty:

Excise Duty is accounted gross of Cenvat benefit availed on inputs, fixed assets and eligible services.

11 Retirement Benefits:

i) Defined Benefit Plans:

The gratuity scheme is administered through the Life Insurance Corporation of India. Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

ii) Leave Liability:

The employees of the company are entitled to leave as per the leave policy of the company. The liability on account of accumulated leave as on last day of the accounting year is not recognised.

12 Employee Separation Costs:

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the year of payment.

13 Provision for Bad and Doubtful Debts/Advances :

No Provision is made in accounts for bad and doubtful debts / advances which in the opinion of the management are considered doubtful of recovery.

14 Deferred Tax:

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainity that the assets can be realised in future.

15 Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

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Mar 31, 2014

1. Basis of Accounting :

All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis, except Income by way of dividend and Expense by way of leave encashment which is accounted on cash basis.

2. Sales :

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty/late delivery charges and include sale of Scrap and Excise Duty and price variation but net of Sales Returns. In the case of Mining division Sales include Royalty.

3. Use of Estimates :

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

4. Fixed Assets and Depreciation :

I) All fixed assets are valued at cost less depreciation.The cost is inclusive of incidental expenses excluding excise related to acquisition and put to use. Pre-operative expenses including trial run expenses (net of revenue) are capitalised. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

ii) Impairement loss ,if any is recognised in the year in which impairement takes place.

iii) Depreciation on Fixed Assets is provided on Straight Line Method at the rate and in the manner specified in Schedule XIV of the Companies Act, 1956.

iv) Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the period during which assets are put to use.

5. Expenditure during the Construction Period :

The expenditure incidental to the expansion / new projects are allocated to Fixed Assets in the year of commencement of the commercial production.

6. Investments :

i) Long term and strategic investments are stated at cost.

ii) Current investments, if any, are stated at cost.

iii) Investments in shares of foreign subsidiary and other Companies are expressed in Indian Currency at the rates of exchange prevailing at the time when the original investments were made.

7. Inventories :

Raw Materials, Stores & Spare Parts, Packing Materials, Finished Goods and Semi Finished Goods are valued at lower of cost and net realisable value.

8. Revenue Recognition :

I) Revenue from Sale of goods is recognised when significant risks and rewards of ownership of the goods have been passed to the buyer.

ii) Service income is recognised as per the terms of contracts with the customers when the related services are performed or the agreed milestones are achieved and are net of service tax wherever applicable.

iii) Dividend income is recognised when the unconditional right to receive the income is established.

iv) Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

9. Foreign Currency Transactions :

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the year end /contracted rates.

Exchange difference on repayment/conversion/translation are adjusted to

(i) Carrying Cost of fixed assets, if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

10. Excise Duty :

Excise Duty is accounted gross of Cenvat benefit availed on inputs, fixed assets and eligible services.

11. Retirement Benefits :

i) Defined Benefit Plans :

The gratuity scheme is administered through the Life Insurance Corporation of India. Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

ii) Leave Liability :

The employees of the company are entitled to leave as per the leave policy of the company. The liability on account of accumulated leave as on last day of the accounting year is not recognised.

12. Employee Separation Costs :

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the year of payment.

13. Provision for Bad and Doubtful Debts / Advances :

No Provision is made in accounts for bad and doubtful debts / advances which in the opinion of the management are considered doubtful of recovery.

14. Deferred Tax:

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainity that the assests can be realised in future.

15. Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

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Mar 31, 2012

1. Basis of Accounting:

All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis, except Income by way of dividend and Expense by way of leave encashment which is accounted on cash basis.

2. Sales:

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty/late delivery charges and include sale of Scrap and Excise Duty but net of Sales Returns and Discount. in the case of Mining division Sales include Royalty & Rewards.

3. Use of Estimates:

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

4. Fixed Assets and Depreciation :

i) All fixed assets are valued at cost less depreciation .The cost is inclusive of incidental expenses related to acquisition and put to use. Pre-operative expenses including trial run expenses (net of revenue) are capitalised. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

ii) Impairement loss, if any is recognised in the year in which impairement takes place.

iii) Depreciation on Fixed Assets is provided on Straight Line Method at the rate and in the manner specified in Schedule XIV of the Companies Act, 1956.

iv) Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the period during which assets are put to use.

5. Expenditure during the Construction Period:

The expenditure incidental to the expansion / new projects are allocated to Fixed Assets in the year of commencement of the commercial production.

6. Investments :

i) Long term and strategic investments are stated at cost.

ii) Current investments, if any, are stated at cost.

iii) Investments in shares of foreign subsidiary and other Companies are expressed in Indian

Currency at the rates of exchange prevailing at the time when the original investments were

made.

7. Inventories:

Raw Materials, Stores & Spare Parts, Packing Materials, Finished Goods and Semi Finished Goods are valued at lower of cost and net realisable value.

8. Revenue Recognition:

I) Revenue from Sale of goods is recognised when significant risks and rewards of ownership of the

goods have been passed to the buyer. ii) Service income is recognised as per the terms of contracts with the customers when the related services are performed or the agreed milestones are achieved and are net of service tax wherever applicable. iii) Dividend income is recognised when the unconditional right to receive the income is established. iv) Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

9. Foreign Currency Transactions:

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the year end/contracted rates.

Exchange difference on

(i) Carrying Cost of fixed assets, if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

10. Excise Duty:

Excise Duty is accounted gross of Cenvat benefit availed on inputs, fixed assets and eligible services.

11. Retirement Benefits:

i) Defined Benefit Plans:

The gratuity scheme is administered through the Life Insurance Corporation of India. Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India. ii) Leave Liability:

The employees of the company are entitled to leave as per the leave policy of the company. The liability on account of accumulated leave as on last day of the accounting year is not recognised.

12. Employee Separation Costs:

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the year of payment.

13. Provision for Bad and Doubtful Debts /Advances:

No Provision is made in accounts for bad and doubtful debts / advances which in the opinion of the management are considered doubtful of recovery.

14. Deferred Tax:

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainity that the assests can be realised in future.

15. Provisions, Contingent Liabilities and Contingent Assets:

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

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Mar 31, 2011

I) Basis of Accounting :

All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis, except Income by way of dividend , and Expense by way of leave encashment which is accounted on cash basis.

II) Sales :

Sales exclude Sales Tax, Transportation, Insurance, discount, penalty/late delivery charges and Include sale of Scraps and Excise Duty but net of Sales Returns and Discount. In the case of Mining division Sales include Royalty & Rewards.

III) Fixed Assets:

(I) All fixed assets are valued at cost less depreciation.The cost is inclusive of Incidental expenses related to acquisition and put to use.Pre-operative expenses Including trial run expenses (net of revenue) are capitalised. Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

(II) Impairement loss,if any is recognised in the year in which impairement takes place.

Iv) Depreciation :

Depreciation on Fixed Assets is provided on Straight Line Method at the rate and In the manner specified In Schedule XIV of the Companies Act, 1956.

v) Retirement Benifits :

Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of India.

vi) Inventories:

Inventories are valued at lower of cost or net realisable value.

vii) Deferred Tax:

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainty that the assets can be realised in future.

viii) Transaction in Foreign Currency

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions. Foreign currency transaction remain unsettled as at the end of the year are translated at the year end /contracted rates. Exchange difference on repayment/conversion/translation are adjusted to

(i) Carrying cost of fixed assets, if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.

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Mar 31, 2010

I)Basis of Accounting: All financial items of Income and Expenditure having a material bearing on the financial statement are recognised on accrual basis,except Income by way of dividend ,and Expense by way of leave encashment which is accounted on cash basis,

ii)Sales: Sales exclude Sales Tax,Transportation,Insurance and include sale of Scraps and Excise Duty but net of -Sales Returns and Discount,

iii)Fixed Assets: (I)All fixed assets are valued at cost less depreciation.The cost is inclusive of incidental expenses related to acquisition and put to use.Pre-operative expenses including trial run expenses (net of revenue)are capitalised.

Interest on borrowings and financing costs during the period of construction is added to cost of fixed assets.

(ii)lmpairement loss ,if any is recognised in the year in which impairement takes place,

iv)Depreciation:

Depreciation on Fixed Assets is provided on Straight Line Method at the rate and in the manner specified in Schedule XIV of the Companies Act,1956.

v)Retirement Benefits: Gratuity liability is accounted as per the actuarial contribution demanded by Life Insurance Corporation of I

vi) Deferred Tax:

Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets arising from temporary timing differences are recognised to the extent there is reasonable certainty that the assets can be realised in future.

vii) Transaction in Foreign Currency

Transaction in foreign currency are recorded at the rate of exchange in force on the respective date of such transactions.

Foreign currency transaction remain unsettled as at the end of the year are translated at the year end /contracted rates.

Exchangedifference on repayment/conversion/translation are adjusted to

(i) Carrying cost of fixed assets.if foreign currency liability relates to fixed assets.

(ii) the Profit & Loss account in other cases.