Reganto Enterprises Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2026

CORPORATE INFORMATION

Reganto Enterprises Limited having CIN: L43299DL1991PLC045276 was incorporated on 06 August 1991 under the provisions of the Companies Act, 1956 and is having its registered office at 1117, 11th Floor, Hemkunt Chambers, 89, Nehru Place, South Delhi, New Delhi, Delhi - 110019, India.Pursuant to the approval of the shareholders and the Registrar of Companies, the name of the Company was changed from “Vintron Informatics Limited” to “Reganto Enterprises Limited”, and a fresh Certificate of Incorporation consequent upon change of name was issued by the Registrar of Companies. The Corporate Identification Number (CIN) of the Company is L43299DL1991PLC045276.The Company is engaged in the business of construction and development of lands, residential and commercial projects, infrastructure development, civil engineering works, project execution and other allied activities. The Company undertakes activities relating to acquisition, development, improvement, renovation, maintenance, management and execution of infrastructure and real estate projects.The Company may acquire, purchase, lease, exchange, mortgage, develop, hold, transfer, sell or otherwise deal in lands, buildings, hereditaments, properties, rights and interests of every description and undertake all activities incidental or ancillary thereto. Further, the Company is engaged in the execution of infrastructure projects, civil construction contracts and such other activities as are permitted under its Memorandum of Association.

1. SIGNIFICANT ACCOUNTING POLICIES

1.01 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013 and the relevant provisions of the Companies Act, 2013 (“the 2013 Act”), as applicable. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles in India.

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has determined its operating cycle as twelve months for the purpose of current - non-current classification of assets and liabilities.

1.02 USE OF ESTIMATES

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

1.03 PROPERTY, PLANT & EQUIPMENT

All Fixed Assets are recorded at cost including taxes, duties, freight and other incidental expenses incurred in relation to their acquisition and bringing the asset to its intended use.

1.04 DEPRECIATION / AMORTISATION Tangible Assets:

Depreciable amount of assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value. Depreciation on tangible fixed assets has been provided on the written-down value method as per the useful life prescribed in Schedule II to the Companies Act, 2013.

Intangible Assets:

There are no Intangible assets during the year

1.05 IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. Recoverable amount is the higher of an asset’s net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of the asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from sale of the asset in an arm’s length transaction between knowledgeable, willing parties, less the costs of disposal. An impairment loss is charged to the Statement of Profit and Loss in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting periods is reversed if there has been a change in the estimate of the recoverable value.

1.06 BORROWING COSTS

Borrowing costs that are 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 intended use. All other borrowing costs are charged to revenue.

1.07 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

1.08 REVENUE RECOGNITION

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. However we are dealing in services only, so revenue is recognised once the decided services provided to customers.

1.09 OTHER INCOME

Other Income is accounted on accrual basis an recognised as and when right to receive is established.

1.10 INVENTORIES

Inventories are valued at Cost OR Net Realizable value whichever is lower.

1.11 TAXES ON INCOME

Income taxes are accounted for in accordance with Accounting Standard (AS-22) - “Accounting for taxes on income”, notified under Companies (Accounting Standard) Rules, 2014. Income tax comprises of both current and deferred tax.Current tax is measured on the basis of estimated taxable income and tax credits computed in accordance with the provisions of the Income Tax Act, 1961 .The tax effect of the timing differences that result between taxable income and accounting income and are capable of reversal in one or more subsequent periods are recorded as a deferred tax asset or deferred tax liability. They are measured using substantially enacted tax rates and tax regulations as of the Balance Sheet date.Deferred tax assets arising mainly on account of brought forward losses and unabsorbed depreciation under tax laws, are recognized, only if there is virtual certainty of its realization, supported by convincing evidence. Deferred tax assets on account of other timing differences are recognized only to the extent there is a reasonable certainty of its realization.

1.12 CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprises Cash-in-Hand and Balance in Current Accounts with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

1.13 EARNINGS PER SHARE

Basic earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity share outstanding during the year. Diluted earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

1.14 SEGMENT REPORTING

We have no segment so this policy will not be applicable to our company

Cash and cash equivalents comprises Cash-in-hand, Current Accounts, Fixed Deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value. Other Bank Balances are short-term balance ( with original maturity is more than three months but less than twelve months).

1.15 EARNINGS PER SHARE

Basic earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity share outstanding during the year. Diluted earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

1.16 EMPLOYEE BENEFITS Defined Contribution Plan:

Contributions payable to the recognised provident fund, which is a defined contribution scheme, are charged to the statement of profit and loss.

Defined Benefit Plan (Funded):

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The plan is managed by a trust and the fund is invested with Life Insurance Corporation of India under its Group Gratuity Scheme. The Company makes annual contributions to gratuity fund and the Company recognizes the liability for gratuity benefits payable in future based on an independent actuarial valuation.

SIGNIFICANT ACCOUNTING POLICIES2. MATERIAL ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES AND JUDGEMENTS2.1 Basis of preparation

a) Statement of Compliance

The financial statements (on standalone basis) of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (''the Act’) read with the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use

b) Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the entity operates (''the functional currency’). The financial statements are prepared in '', which is the functional and presentation currency.

c) Basis of measurement

The financial statements have been prepared on the historical cost convention basis, except for the following material items which are measured at fair value as required by relevant Ind AS:

i) Certain financial assets and financial liabilities (including derivative instruments) [Refer accounting policy regarding financial instruments in note no. 2.2(i)]

ii) Defined benefit plans

2.2 Material Accounting policies

a) Presentation and disclosure of financial statements

All assets and liabilities have been classified as current and non-current as per the Company’s normal operating cycle and other criteria set out in the division II of Schedule III of the Companies Act, 2013, for a Company whose financial statements are made in compliance with the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter. Based on the nature of business and their realisation in cash and cash equivalents, 12 months have been considered by the Company for the purpose of current / non-current classification of assets and liabilities.

Deferred tax assets and liabilities are classified as non-current assets and liabilities as the case may be.

b) Property, plant and equipment & Depreciation

i) All Property, Plant and Equipment are stated at cost of acquisition less accumulated depreciation and accumulated impairment losses, if any. Cost of property, plant and equipment includes non-refundable taxes and duties, borrowing cost directly attributable to the qualifying asset and any directly attributable costs of bringing the asset to its working condition and location and present value of the expected cost for the dismantling/ decommissioning of the asset.

ii) Capital work-in-progress comprises of costs incurred on property, plant and equipment not yet ready for their intended use at the Balance Sheet date. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date are classified as capital advances under other non-current assets.

iii) Property, plant and equipment are eliminated from financial statements, either on disposal or when retired from active use. Losses arising in the case of retirement of property, plant and equipment and gains or losses arising from disposal of property, plant and equipment are recognised in the statement of profit and loss in the year of occurrence.

iv) Subsequent expenditures relating to property, plant and equipment are capitalised only when it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be measured reliably. Repair and maintenance costs are recognised in the Statement of Profit and Loss when incurred.

v) When parts of an item of property, plant and equipment have different useful lives, they are accounted for as a separate item (major components) of property, plant and equipment.

vi) The carrying amount of an item of property, plant and equipment shall be derecognised: (a) on disposal; or (b) when no future economic benefits are expected from its use or disposal

a) Depreciation on property, plant and equipment

b) Depreciation on property, plant and equipment (other than freehold land and capital work in progress) is provided on WDV over the useful lives of the relevant assets net of residual value whose lives are in consonance with the lives mentioned in Schedule II of the Companies Act, 2013, except the case where individual assets whose cost does not exceed ten thousand rupees has been provided fully in the year of capitalisation.

c) In the case of assets purchased, sold or discarded during the year, depreciation on such assets is calculated on a pro-rata basis from the date of such addition or as the case may be, upto the date on which such asset has been sold or discarded.

d) The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each balance sheet date to reflect the expected pattern of consumption of the future benefits embodied in the properties, plant and equipment and in case of any changes, effect of the same is given prospectively.

e) Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale (or included in a disposal group that is classified as held for sale) in accordance with Ind AS 105 and the date that the asset is derecognised.

c) Impairment of non-financial assets

Assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e., the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognised in the Statement of Profit and Loss is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the assets. An impairment loss is reversed in the statement of profit and loss if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortisation or depreciation) had no impairment loss been recognised for the asset in prior years.

d) Inventories

Inventories are valued at the lower of cost and net realisable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

i) Raw materials, packing materials, consumables, stores and spares are valued at lower of cost and net realisable 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.

The Cost comprises of costs of purchase, duties and taxes (other than those subsequently recoverable) and other costs after deducting discounts and rebates which are incurred in bringing them to their present location and condition. Cost is determined on weighted average basis. Cost also includes the reclassification from OCI of any gains or losses on qualifying cash flow hedges relating to purchases of raw material but excludes borrowing costs.

ii) Work-in-progress / Finished goods are valued at lower of cost and net realisable value. The cost includes direct materials valued on weighted average basis, conversion costs (i.e. costs directly related to the units of production), appropriate proportion of manufacturing overheads based on normal operating capacity and other costs incurred in bringing them to their present location and condition. Net realisable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated costs necessary to make the sale.

iii) Stocks in trade (Traded goods) are valued at lower of cost and net realisable value. Cost includes direct materials valued on weighted average basis, and other costs incurred in bringing them to their present location and condition.

iv) Scraps are valued at estimated net realisable value.

v) Cost of inventories is arrived at after providing for cost of obsolescence wherever considered necessary.

e) Borrowing Cost

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of the respective asset till such time the asset is ready for its intended use or sale. A qualifying asset is an asset which necessarily takes a substantial period of time to get ready for its intended use or sale. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest expenses calculated as per effective interest method, exchange difference arising from foreign currency borrowings to the extent they are treated as an adjustment to the borrowing cost.

f) T rade receivables

T rade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. If the receivable is expected to be collected within a period of 12 months or less from the reporting date (or in the normal operating cycle of the business, if longer), they are classified as current assets, otherwise as non-current assets.

Trade receivables are measured at their transaction price unless they contain a significant financing component or pricing adjustments embedded in the contract.

Loss allowance for expected lifetime credit loss is recognised on initial recognition.

g) Foreign currency transactions

Transactions denominated in foreign currencies are recorded at the exchange rates prevailing on the date of the transaction. As at the Balance Sheet date, foreign currency monetary assets and liabilities are translated at closing exchange rate. The gains or losses resulting from such translations are included in net profit in the Statement of Profit and Loss.

Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Non-monetary assets and nonmonetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of the transaction.

Transaction gains or losses realised upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. Revenue, expense and cash flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction.

As per Appendix B to Ind AS 21, when an entity has received or paid advance contribution in a foreign currency, transaction rate as on the date of receipt of advance is considered for recognition of related asset, expenses or income.

h) Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

i) Cash flow statement

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

j) Provisions, contingent liabilities and contingent assets

Contingent Liabilities are disclosed in respect of possible obligations that arise from past events, but their existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made.

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

Provisions are measured at the present value of the management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognised as an interest expense. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

A contingent asset is disclosed, where an inflow of economic benefits is probable. An entity shall not recognise a contingent asset unless the recovery is virtually certain.

k) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss (after tax) for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. The weighted average numbers of shares also includes fixed number of equity shares that are issuable on conversion of compulsorily convertible instruments and it is included from the date consideration is receivable (generally the date of their issue) of such instruments.

The Weighted average number of equity shares outstanding during the year is adjusted for events such as issue of shares, bonus issue, bonus element in a rights issue, share split, and reverse share split (consolidation of shares), without a corresponding change in resources.

Diluted earnings per share is calculated by dividing the net profit or loss (after tax) for the year attributable to 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.

l) Dividend distribution

Final equity dividends on shares are recorded as a liability on the date of approval by the shareholders and interim equity dividends are recorded as a liability on the date of declaration by the Company’s Board of Directors.

2.2 Use of significant accounting estimates, judgements and assumptions

The preparation of the financial statements requires management to make estimates, judgements and assumptions that affect the reported balances of revenues, expenses, assets and liabilities, disclosure of contingent liabilities as on the date of financial statements. 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.

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.

a) Estimated useful lives and scrap value (Property, plant & equipment, Investment properties and Intangible assets)

The Company has conducted internal assessment of residual value and method of depreciation / amortisation of property, plant & equipment, investment properties and intangible assets and estimated that the useful life is in consonance with Schedule II of the Companies Act, 2013. Property, plant & equipment, investment properties and intangible assets represent a significant proportion of the asset base of the Company. Further the Company has estimated that the scrap value of property, plant & equipment would be able to cover the decommissioning costs of property, plant & equipment.

Therefore, the estimates and assumptions made to determine useful life, residual value, method of depreciation / amortisation and decommissioning costs are critical to the Company’s financial position and performance.

b) Impairment of invest

The Company conducts impairment reviews of investments in subsidiaries whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable or tests for impairment annually. Determining whether the investments in subsidiaries are impaired requires an estimate of the value in use of investments. In considering the value in use, the management has anticipated future cash flows and other factors of the underlying businesses / operations of the subsidiaries and a suitable discount rate in order to calculate the present value. Any subsequent changes to the cash flows due to changes in the above-mentioned factors could impact the carrying value of investments.

c) Determining the lease term of contracts with renewal as a Lessee

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of Ind AS 116. Identification of a lease requires significant judgement. The Company uses significant judgement in assessing the lease term (including anticipated renewals).

The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. In assessing whether the Company is reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate

a lease, it considers all relevant facts and circumstances that create an economic incentive for the Company to exercise the option to extend the lease, or not to exercise the option to terminate the lease. Any subsequent change in certainty of exercising option to extend lease term could impact the carrying value of right of use asset and lease liability significantly.

d) Fair Value Measurement of Financial Instruments

When the fair value of financial assets and financial liabilities recorded in the Balance Sheet cannot be measured based on quoted prices in active markets, their fair values are measured using valuation techniques (obtaining fair valuation report from registered valuer). The inputs to these models are taken from observable market where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include consideration of input such as projections, liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

e) Impairment of financial assets (including trade receiv-able)

Allowance for doubtful receivables and advances (including advances to subsidiaries) represent the estimate of losses that could arise due to the inability of the customer / counter party to make payments when due. These estimates are based on the ageing, category, specific credit circumstances and the historical experience of the Company as forward-looking estimates at the end of each reporting period.

f) Estimation of provisions and contingencies

Provisions are liabilities of uncertain amount or timing recognised where a legal or constructive obligation exists at the balance sheet date, as a result of a past event, where the amount of the obligation can be reliably estimated and where the outflow of economic benefit is probable. Contingent liabilities are possible obligations that may arise from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events which are not fully within the control of the Company. The Company exercises judgement and estimates in recognising the provisions and assessing the exposure to contingent liabilities relating to pending litigations. Judgement is necessary in assessing the likelihood of the success of the pending claim and to quantify the possible range of financial settlement. Due to this inherent uncertainty in the evaluation process, actual losses may be different from the originally estimated provision.

2.3 New standard issued / modified but not effective as at reporting date

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended 31st March, 2025, MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions, applicable to the Company w.e.f. 1st April, 2024. The Company has reviewed the new pronouncements and based on its evaluation has determined that it does not have any significant impact in its financial statements.

---

Mar 31, 2025

2. Material accounting policies

2.1 Basis of preparation

The financial statements of the Company have been prepared in accordance with Indian Accounting
Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 and the
Companies (Indian Accounting Standards) (Amendment) Rules, 2016.

The financial statements have been prepared on a historical cost basis, except for the certain assets and
liabilities which have been measured at different basis and such basis has been disclosed in relevant
accounting policy.

The financial statements are presented in INR and all values are rounded to the nearest lacs (INR 00,000),
except when otherwise indicated.

2.2 Material accounting policies

a. Current versus non-current classification

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

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

• Held primarily for the purpose of trading

• Expected to be realised/settled 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

• There is no unconditional right to defer the settlement of the liability for at least twelve months after
the reporting period.

All other assets and liabilities are classified as non-current.

The Company classifies all other liabilities as non-current.

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

b. Property, plant and equipment
i) Tangible assets

Property, plant and equipment are stated at cost [i.e., cost of acquisition or construction inclusive of freight,
erection and commissioning charges, non-refundable duties and taxes, expenditure during construction
period, borrowing costs (in case of a qualifying asset) upto the date of acquisition/ installation], net of
accumulated depreciation.

When significant parts of property, plant and equipment (identified individually as component) are required to
be replaced at intervals, the Company derecognizes the replaced part, and recognizes the new part with its

own associated useful life and it is depreciated accordingly. Whenever major inspection/overhaul/repair is
performed, its cost is recognized in the carrying amount of respective assets as a replacement, if the
recognition criteria are satisfied. All other repair and maintenance costs are recognized in the statement of
profit and loss.

The present value of the expected cost for the decommissioning of an asset after its use is included in the cost
of the respective asset if the recognition criteria for a provision are met.

Property, plant and equipments are eliminated from financial statements, either on disposal or when retired
from active use. Losses/gains arising in case retirement/disposals of property, plant and equipment are
recognized in the statement of profit and loss in the year of occurrence.

Depreciation on property, plant and equipments are provided to the extent of depreciable amount on the
straight line (SLM) Method. Depreciation is provided at the rates and in the manner prescribed in Schedule II
to the Companies Act, 2013 except on some assets, where useful life has been taken based on external /
internal technical evaluation as given below:

Particulars Useful lives

Office equipment 5 years

Furniture and fixture 10 years

Computer 3 years

Plant and Machinery 20 years

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

c. Intangible Assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less any accumulated amortization.

Intangible assets with finite lives (i.e. software and licenses) are amortized over the useful economic life and
assessed for impairment whenever there is an indication that the intangible asset may be impaired. The
amortisation period and method for an intangible asset is reviewed at least at the end of each reporting
period.

Costs relating to computer software are capitalised and amortised on straight line method over their
estimated useful economic life of six years.

d. Impairment of non-financial assets

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If
any indication exists, or when annual impairment testing for an asset is required, the Company estimates the
asset''s recoverable amount. An asset''s recoverable amount is the higher of an asset''s or cash-generating unit''s
(CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual
asset, unless the asset does not generate cash inflows that are largely independent of those from other assets
or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
considered impaired and is written down to its recoverable amount.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the
statement of profit and loss.

e. Inventories

Items of inventories are measured at lower of cost and net realizable value after providing for obsolescence,
wherever considered necessary. Cost of inventories comprises of cost of purchase, cost of conversion and
other costs including manufacturing overheads incurred in bringing them to their respective present location

and condition. Cost of raw material, stores and spares, packing materials, trading and other products are
determined on FIFO basis.

f. Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company
and the revenue can be reliably measured, regardless of when the payment is being made. Revenue from
operations includes sale of goods, services, adjusted for discounts (net).

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.
Interest income is recognized on a time proportion basis taking into account the amount outstanding and the
interest rate applicable.

g. Foreign currency transactions

The Company''s financial statements are presented in INR, which is also its functional currency.

Foreign currency transactions are initially recorded in functional currency using the exchange rates at the date
the transaction.

At each balance sheet date, foreign currency monetary items are reported using the exchange rate prevailing
at the year end.

Exchange differences arising on settlement or translation of monetary items are recognised in statement of
profit and loss.

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

h. Taxes on income

Current tax

Current tax is measured at the amount expected to be paid/ recovered to/from the taxation authorities. The
tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the
reporting date.

Current income tax relating to items recognised directly in equity/other comprehensive income is recognised
under the respective head and not in the statement of profit & loss. Management periodically evaluates
positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to
interpretation and establishes provisions where appropriate.

Current tax assets are offset against current tax liabilities if, and only if, a legally enforceable right exists to set
off the recognised amounts and there is an intention either to settle on a net basis, or to realise the asset and
settle the liability simultaneously.

Deferred tax

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

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that
taxable profit will be available against which the deductible temporary differences, and the carry forward of
unused tax credits and unused tax losses can be utilised.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when
the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the balance sheet date. Tax relating to items recognized directly in equity/other
comprehensive income is recognized in respective head and not in the statement of profit & loss.

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

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

i. Employee benefits

All employee benefits that are expected to be settled wholly within twelve months after the end of period in
which the employee renders the related services are classified as short-term employee benefits. Benefits such
as salaries, wages, short-term compensated absences, etc. are recognized as expense during the period in
which the employee renders related service.

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution
plan is recognized as expenses on accrual basis to the extent of Company''s contribution as an employer.
Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by
insurance company. Leave encashment benefit is accounted for on the basis of accumulated entitlement of
the employee as at the end of the year and valued on last salary drawn.

The Company''s contribution to the Provident Fund is remitted to provident fund authorities and are based on
a fixed percentage of the eligible employee''s salary and debited to Statement of Profit and Loss.

j. Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a
period of time in exchange for consideration.

The Company as a lessee

Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset
is available for use by the Company. Contracts may contain both lease and non-lease components. The
Company allocates the consideration in the contract to the lease and non-lease components based on their
relative stand-alone prices.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include
the net present value of the following lease payments:

• fixed payments (including in -substance fixed payments), less any lease incentives receivable

• variable lease payment that are based on an index or a rate, initially measured using the index or rate
as at the commencement date

• amounts expected to be payable under residual value guarantees, if any

• the exercise price of a purchase option if any, if the Company is reasonably certain to exercise that
option
• payment for penalties for terminating the lease, if the lease term reflects the Company exercising that
option

The lease payments are discounted using the interest rate implicit in the lease. If the rate cannot be readily
determined, which is generally the case for leases in the Company, the lessee''s incremental borrowing rate is
used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an
asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security
and conditions.

Lease payments are allocated between principal and finance cost. The finance cost is charged to the statement
of profit and loss over the lease period so as to produce a constant periodic rate of interest on the remaining
balance of the liability for each period. Variable lease payments that depends on sales are recognised in the
statement of profit and loss in the period in which the condition that triggers those payments occurs.

Right-of-use assets are generally depreciated over the shorter of the asset''s useful life and the lease term on a
straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is
depreciated over the underlying assets useful life.

Payments associated with short-term leases are recognised on a straight-line basis as an expense in the
statement of profit and loss. Short term leases are the leases with a lease term of 12 months or less. Further,
rental payments for the land where lease period is considered to be indefinite or indeterminable, these are
charged off to the statement of profit and loss.

---

Mar 31, 2023

2. Significant accounting policies

2.1 Basis of preparation

The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards)
(Amendment) Rules, 2016.

The financial statements have been prepared on a historical cost basis, except for the certain assets and liabilities which
have been measured at different basis and such basis has been disclosed in relevant accounting policy.

The financial statements are presented in INR and all values are rounded to the nearest lacs (INR 00,000), except when
otherwise indicated.

2.2 Significant accounting policies

a. Business combinations and goodwill

Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the
aggregate of the consideration transferred measured at acquisition date fair value and the amount of any non-controlling
interests in the acquiree. For each business combination, the Group elects whether to measure the noncontrolling
interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets.
Acquisition-related costs are expensed as incurred. At the acquisition date, the identifiable assets acquired and the
liabilities assumed are recognised at their acquisition date fair values. For this purpose, the liabilities assumed include
contingent liabilities representing present obligation and they are measured at their acquisition fair values irrespective
of the fact that outflow of resources embodying economic benefits is not probable. However, the following assets and
liabilities acquired in a business combination are measured at the basis indicated below:

Assets or liabilities related to employee benefit arrangements are recognised and measured in accordance with Ind
AS 19 Employee Benefits.

When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate
classification and designation in accordance with the contractual terms, economic circumstances and pertinent
conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the
acquiree. If the business combination is achieved in stages, any previously held equity interest is re-measured at its
acquisition date fair value and any resulting gain or loss is recognised in profit or loss or OCI, as appropriate.

Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date.
Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of Ind AS
109 Financial Instruments, is measured at fair value with changes in fair value recognised in profit or loss. If the
contingent consideration is not within the scope of Ind AS 109, it is measured in accordance with the appropriate Ind
AS. Contingent consideration that is classified as equity is not re-measured at subsequent reporting dates and
subsequent its settlement is accounted for within equity.

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the
amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired
and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred,
the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed
and reviews the procedures used to measure the amounts to be recognised at the acquisition date. If the reassessment
still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the
gain is recognised in OCI and accumulated in equity as capital reserve. However, if there is no clear evidence of
bargain purchase, the entity recognises the gain directly in equity as capital reserve, without routing the same through
OCI.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of
impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the
Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets
or liabilities of the acquiree are assigned to those units.

A cash generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently
when there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less

than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated
to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit.
Any impairment loss for goodwill is recognised in profit or loss. An impairment loss recognised for goodwill is not
reversed in subsequent periods.

Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of,
the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining
the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of
the disposed operation and the portion of the cash-generating unit retained.

If the initial accounting for a business combination is incomplete by the end of the reporting period in which the
combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete.
Those provisional amounts are adjusted through goodwill during the measurement period, or additional assets or
liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition
date that, if known, would have affected the amounts recognized at that date. These adjustments are called as
measurement period adjustments. The measurement period does not exceed one year from the acquisition date.

b. Current versus non-current classification

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

An asset/liability is treated as current when it is:

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

• Held primarily for the purpose of trading

• Expected to be realised/settled 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

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

All other assets and liabilities are classified as non-current.

The Company classifies all other liabilities as non-current.

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

c. Property, plant and equipment

i) Tangible assets

Property, plant and equipment are stated at cost [i.e., cost of acquisition or construction inclusive of freight,
erection and commissioning charges, non-refundable duties and taxes, expenditure during construction period,
borrowing costs (in case of a qualifying asset) upto the date of acquisition/ installation], net of accumulated
depreciation.

When significant parts of property, plant and equipment (identified individually as component) are required to be
replaced at intervals, the Company derecognizes the replaced part, and recognizes the new part with its own
associated useful life and it is depreciated accordingly. Whenever major inspection/overhaul/repair is performed,
its cost is recognized in the carrying amount of respective assets as a replacement, if the recognition criteria are
satisfied. All other repair and maintenance costs are recognized in the statement of profit and loss.

The present value of the expected cost for the decommissioning of an asset after its use is included in the cost
of the respective asset if the recognition criteria for a provision are met.

Property, plant and equipments are eliminated from financial statements, either on disposal or when retired from
active use. Losses/gains arising in case retirement/disposals of property, plant and equipment are recognized in
the statement of profit and loss in the year of occurrence.

Depreciation on property, plant and equipments are provided to the extent of depreciable amount on the straight
line (SLM) Method. Depreciation is provided at the rates and in the manner prescribed in Schedule II to the
Companies Act, 2013 except on some assets, where useful life has been taken based on external / internal
technical evaluation as given below:

Particulars Useful lives

Plant and Machinery 20 years

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

ii) Capital work in progress

Capital work in progress includes construction stores including material in transit/ equipment / services, etc.
received at site for use in the projects.

All revenue expenses incurred during construction period, which are exclusively attributable to acquisition /
construction of fixed assets, are capitalized at the time of commissioning of such assets.

d. Intangible Assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible
assets are carried at cost less any accumulated amortization.

Intangible assets with finite lives (i.e. software and licenses) are amortized over the useful economic life and assessed for
impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and method
for an intangible asset is reviewed at least at the end of each reporting period.

Costs relating to computer software are capitalised and amortised on straight line method over their estimated useful
economic life of six years.

e. Borrowing Costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the respective
asset. All other borrowing costs are expensed in the period in which they occur.

f. Impairment of non-financial assets

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s
recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair
value less costs of disposal and its value in use. Recoverable amount is determined for an individual asset, unless
the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets.
When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and
is written down to its recoverable amount.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of
profit and loss.

g. Inventories

Items of inventories are measured at lower of cost and net realizable value after providing for obsolescence, wherever
considered necessary. Cost of inventories comprises of cost of purchase, cost of conversion and other costs including
manufacturing overheads incurred in bringing them to their respective present location and condition. Cost of raw
material, stores and spares, packing materials, trading and other products are determined on FIFO basis.

h. Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the
revenue can be reliably measured, regardless of when the payment is being made. Revenue from operations includes
sale of goods, services, adjusted for discounts (net).

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the interest
rate applicable.

i. Foreign currency transactions

The Company’s financial statements are presented in INR, which is also its functional currency.

Foreign currency transactions are initially recorded in functional currency using the exchange rates at the date the
transaction.

At each balance sheet date, foreign currency monetary items are reported using the exchange rate prevailing at the
year end.

Exchange differences arising on settlement or translation of monetary items are recognised in statement of profit and
loss.

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

j. Taxes on income
Current tax

Current tax is measured at the amount expected to be paid/ recovered to/from the taxation authorities. The tax rates
and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.
Current income tax relating to items recognised directly in equity/other comprehensive income is recognised under
the respective head and not in the statement of profit & loss. Management periodically evaluates positions taken in
the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate.

Current tax assets are offset against current tax liabilities if, and only if, a legally enforceable right exists to set off the
recognised amounts and there is an intention either to settle on a net basis, or to realise the asset and settle the
liability simultaneously.

Deferred tax

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

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits
and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused tax credits and
unused tax losses can be utilised.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively
enacted at the balance sheet date. Tax relating to items recognized directly in equity/other comprehensive income is
recognized in respective head and not in the statement of profit & loss.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and is adjusted to the extent that
it is no longer probable that sufficient taxable profit will be available to allow all or part of the asset to be recovered.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation
authority.

k. Employee benefits

All employee benefits that are expected to be settled wholly within twelve months after the end of period in which the
employee renders the related services are classified as short term employee benefits. Benefits such as salaries,
wages, short-term compensated absences, etc. are recognized as expense during the period in which the employee
renders related service.

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is
recognized as expenses on accrual basis to the extent of Company’s contribution as an employer. Defined benefit
plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance company. Leave
encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the
year and valued on last salary drawn.

The Company’s contribution to the Provident Fund is remitted to provident fund authorities and are based on a fixed
percentage of the eligible employee’s salary and debited to Statement of Profit and Loss.

l. Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period
of time in exchange for consideration.

The Company as a lessee

Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is
available for use by the Company. Contracts may contain both lease and non-lease components. The Company
allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone
prices.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the
net present value of the following lease payments:

• fixed payments (including in -substance fixed payments), less any lease incentives receivable

• variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the
commencement date

• amounts expected to be payable under residual value guarantees, if any

• the exercise price of a purchase option if any, if the Company is reasonably certain to exercise that option

• payment for penalties for terminating the lease, if the lease term reflects the Company exercising that option
The lease payments are discounted using the interest rate implicit in the lease. If the rate cannot be readily determined,
which is generally the case for leases in the Company, the lessee’s incremental borrowing rate is used, being the rate
that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the
right-of-use asset in a similar economic environment with similar terms, security and conditions.

Lease payments are allocated between principal and finance cost. The finance cost is charged to the statement of
profit and loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of
the liability for each period. Variable lease payments that depends on sales are recognised in the statement of profit
and loss in the period in which the condition that triggers those payments occurs.

Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a
straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is
depreciated over the underlying assets useful life.

Payments associated with short-term leases are recognised on a straight-line basis as an expense in the statement of
profit and loss. Short term leases are the leases with a lease term of 12 months or less. Further, rental payments for
the land where lease period is considered to be indefinite or indeterminable, these are charged off to the statement of
profit and loss.

---

Mar 31, 2015

1 Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 2013 and provisions of Companies Act, 1956 to the extent applicable.

2 Use of Estimates

The financial statements in conformity with GAAP requires that the management makes estimates and assumptions that affect the reported amount of assets and liabilities, disclosures of contingent liabilities as at the date of the financial statements and the reported amount of revenue and expenses during the reported period. Examples of such estimates include future obligation under employee benefit plans, income tax liability and useful life of fixed assets. Contingencies recorded when the same is probable of cash out flow and amount can be reliably estimated. Other contingencies are disclosed as Contingent liability. Actual results can differ in case of estimates.

3 Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

4 Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.

Revenue from sales is recognized on actual dispatch of goods along with transfer of risk and rewards thereof.

5 Fixed Assets-Tangible/Intangible & Depreciation/ Amortisation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the useful life of the asset provided in Schedule II of the Companies Act, 2013.

d) Cenvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

e) Intangible assets are amortized over the period of useful life of the asset subject to maximum life of amortization as referred in AS-26 on Intangible Assets.

6 Inventories:

Method of Valuation

a) Raw Materials and components - at cost or market price whichever is less.

b) Finished Goods - at cost or market price whichever is less.

7 Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

8 Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the yearend exchange rates and difference is charged to the statement of profit and loss.

9 Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company's contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance Company.

Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

10 Sales

Sales are stated net of discounts allowed and excise duty paid.

11 Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

Unless specifically stated to be otherwise, these policies are consistently followed.

---

Mar 31, 2014

1. Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 1956 and provisions of the Companies Act, 2013 to the extent applicable.

2. Use of Estimates:

The preparation of the financial statements in conformity with GAAP requires that the management makes estimates and assumptions that affect the reported amount of assets and liabilities, disclosures of contingent liabilities as at the date of the financial statements and the reported amount of revenue and expenses during the reported period. Examples of such estimates include future obligation under employee benefit plans, income tax liability and useful life of fixed assets. Contingencies are recorded when the same is probable of cash out flow and amount can be reliably estimated. Other contingencies are disclosed as Contingent liability. Actual results can differ in case of estimates.

3. Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

4. Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.

Revenue from sales is recognized on actual dispatch of goods along with transfer of risk and rewards thereof.

5. Fixed Assets-Tangible/Intangible & Depreciation/Amortisation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the rates provided in Schedule XIV of the Companies Act, 1956.

d) Cenvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

e) Intangible assets are amortized over a the period of useful life of the asset subject to maximum rate of depreciation defined in the Companies Act, 1956.

6. Inventories:

Method of Valuation

a) Raw Materials - at cost or market price whichever is less.

b) Finished Goods - at cost or market price whichever is less.

7. Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

8. Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the year end exchange rates and difference is charged to the statement of profit and loss.

9. Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company''s contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance company. Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

10. Sales

Sales are stated net of discounts allowed and excise duty paid.

11. Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

12. Unless specifically stated to be otherwise, these policies are consistently followed.

---

Mar 31, 2013

1. Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 1956.

2. Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

3. Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs. Revenue from sales is recognized on actual dispatch of goods along with transfer of risk and rewards thereof.

4. Fixed Assets-Tangible/Intangible & Depreciation/Amortisation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the rates provided in Schedule XIV of the Companies Act, 1956.

d) Cenvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

e) Intangible assets are amortized over a the period of useful life of the asset subject to maximum rate of depreciation defined in the Companies Act, 1956.

5. Inventories: Method of Valuation

a) Raw Materials – at cost or market price whichever is less.

b) Finished Goods – at cost or market price whichever is less.

6. Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

7. Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the year end exchange rates and difference is charged to the statement of profit and loss.

8. Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company''s contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance company. Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

9. Sales

Sales are stated net of discounts allowed and excise duty paid.

10. Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

11. Unless specifically stated to be otherwise, these policies are consistently followed.

---

Mar 31, 2012

1. Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 1956.

2. Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

3. Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs. Revenue from sales is recognized on actual dispatch of goods along with transfer of risk and rewards thereof.

4. Fixed Assets & Depreciation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the rates provided in Schedule XIV of the Companies Act, 1956.

d) Modvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

5. Inventories: Method of Valuation

a) Raw Materials - at cost or market price whichever is less.

b) Finished Goods - at cost or market price whichever is less.

6. Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

7. Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the year end exchange rates and difference is charged to the statement of profit and loss.

8. Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company's contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance Company. Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

9. Sales

Sales are stated net of discounts allowed and excise duty paid.

10. Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

11. Unless specifically stated to be otherwise, these policies are consistently followed

---

Mar 31, 2011

1.Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 1956.

2.Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

3.Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.

Revenue from sales is recognized on actual dispatch of goods along with transfer of risk and rewards thereof.

4.Fixed Assets & Depreciation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction /installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the rates provided in Schedule XIV of the Companies Act, 1956.

d) Modvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

5.Inventories: Method of Valuation

a) Raw Materials - at cost or market price whichever is less.

b) Finished Goods - at cost or market price whichever is less.

6.Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

7.Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the year end exchange rates and difference is charged to the profit and loss account.

8.Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company's contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of demand raised by insurance Company. Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

9.Sales

Sales are stated net of discounts allowed and excise duty paid.

10.Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

11.Unless specifically stated to be otherwise, these policies are consistently followed.

---

Mar 31, 2010

1. Basis of Accounting:

The Company prepares its financial statements on historical cost basis and in accordance with applicable accounting standards and generally accepted accounting principles and also in accordance with the requirements of the Companies Act, 1956.

2. Income & Expenditure:

Accounting of Income & Expenditure is done on accrual basis.

3. Revenue Recognition:

Revenue from job work charges is accounted for on the basis of raising the invoice on completion of jobs.

Revenue from sales is recognized on actual dispatch of goods and in case of consignment on actual sale of goods by the consignee.

4. Fixed Assets & Depreciation:

a) Fixed Assets are stated at their original cost of acquisition, inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

b) Assets acquired from the partnership firm on its dissolution are shown as addition to fixed assets and WDV as on date of dissolution is considered as cost.

c) Depreciation is charged on Straight Line Method in accordance with the rates provided in Schedule XIV of the Companies Act, 1956.

d) Modvat credit availed on Capital Goods is accounted for by credit to respective Fixed Assets.

5. Inventories: Method of Valuation

a) Raw Materials - at cost or market price whichever is less.

b) Finished Goods - at cost or market price whichever is less.

6. Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes to the Accounts.

7. Foreign Currency Transactions

Foreign currency transactions are initially recorded at the exchange rates prevailing at the time of execution of the transaction. Monetary items are revalued at the year end exchange rates and difference is charged to the profit and loss account.

8. Employee Benefit

The Employee benefits comprising defined benefit plan and defined contribution plan. Defined contribution plan is recognized as expenses on accrual basis to the extent of Company’s contribution as an employer. Defined benefit plan of gratuity and the same are provided as expenses on the basis of actuarial valuation. Leave encashment benefit is accounted for on the basis of accumulated entitlement of the employee as at the end of the year and valued on last salary drawn.

9. Sales

Sales are stated net of discounts allowed and excise duty paid.

10. Excise Duty

Excise Duty is accounted for as expense at the time of goods cleared. Also provision has been made for excise duty payable on closing stock of finished stock as at the end of the year.

11. Unless specifically stated to be otherwise, these policies are consistently followed.