Unicommerce eSolutions Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

2.2 Summary of material accounting policies

a. Use of Estimates

The preparation of the financial statements in
conformity with the principles of Ind AS requires
the management to make judgements,
estimates and assumptions that effect the
reported amounts of revenues, expenses,
assets and liabilities and the disclosure of
contingent liabilities, at the end of the reporting
period. Although these estimates are based on
the management’s best knowledge of current
events and actions, uncertainty about these
assumptions and estimates could result in the
outcomes requiring a material adjustment to
the carrying amounts of assets or liabilities in
future periods.

The estimates and underlying assumptions
are reviewed on an ongoing basis. Revisions
to accounting estimates are recognised in

the period in which the estimate is revised if
the revision affects only that period, or in the
period of the revision and future periods if the
revision affects both current and future periods.
In particular, information about the significant
areas of estimation, uncertainty and critical
judgements in applying accounting policies that
have the most significant effect on the amounts
recognised in the financial informations.

b. Current versus non-current classification

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

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

- Held primarily for the purpose of trading

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

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

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal
operating cycle

- It is held primarily for the purpose of trading

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

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

- The terms of the liability that could, at
the option of the counter party, results
in its settlement by the issue of equity
instruments do not affect its classification

The terms of the liability that could, at the option
of the counterparty, result in its settlement by
the issue of equity instruments do not affect its
classification.

The Company classifies all other liabilities
as non-current.

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

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

c. Fair value measurement

The Company measures financial instruments,
such as, derivatives at fair value at each
balance sheet date.

Fair value is the price that would be received
to sell an asset or paid to transfer a liability
in an orderly transaction between market
participants at the measurement date. The
fair value measurement is based on the
presumption that the transaction to sell the
asset or transfer the liability takes place either:

- In the principal market for the asset
or liability, or

- In the absence of a principal market, in
the most advantageous market for the
asset or liability

The principal or the most advantageous market
must be accessible by the Company.

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

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

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

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

- 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

For assets and liabilities that are recognised in
the financial statements on a recurring basis,
the Company determines whether transfers
have occurred between levels in the hierarchy
by re-assessing categorisation (based on the
lowest level input that is significant to the fair
value measurement as a whole) at the end of
each reporting period.

At each reporting date, the CFO analyses
the movements in the values of assets and
liabilities which are required to be remeasured
or re-assessed as per the Company’s
accounting policies. For this analysis, the CFO
verifies the major inputs applied in the latest
valuation by agreeing the information in the
valuation computation to contracts and other
relevant documents.

The CFO also compares the change in the fair
value of each asset and liability with relevant
external sources to determine whether the
change is reasonable.

For the purpose of fair value disclosures, the
Company has determined classes of assets
and liabilities on the basis of the nature,
characteristics and risks of the asset or liability
and the level of the fair value hierarchy as
explained above.

This note summarises accounting policy for fair
value. Other fair value related disclosures are
given in the relevant notes.

• Disclosures for valuation methods,
significant estimates and assumptions
(note 30, 31, 32, 33, 36)

• Quantitative disclosures of fair value
measurement hierarchy (note 30, 31)

• Financial instruments (including those
carried at amortised cost) (note
5, 30, 31 & 33)

d. Revenue from contracts with customers

Revenue from contracts with customers is
recognised when control of the goods or
services are transferred to the customer at an
amount that reflects the consideration to which
the Company expects to be entitled in exchange
for those goods or services. The Company has
concluded that it is the principal in its revenue
arrangements, because it typically controls
the goods or services before transferring

them to the customer when the payment is
being made. The specific recognition criteria
described below must also be met before
revenue is recognized :

Revenue from Software as a Service Income
(SaaS Income)

Revenues from SaaS Income comprises
of followings :

i) Fixed income per transaction unit and is
recognised when related transactions
are performed with customers. Each
transaction unit is defined as single
shipment and return shipment as
performed by customers. Revenue from
services are deferred till it is received
by the customers and is disclosed as
deferred revenue.

ii) Revenue from Other support fee is
recognised when the company carries
out certain customizations/modifications
or other changes depending on the
client’s requirement.

iii) Revenue from professional fee is
recognised upon rendering of professional
services on a monthly basis.

iv) Discounts provided to customers are
netted off from the revenue from contracts
with customers.

Revenue for shipping services

The Company provide shipping platform to its
customer for shipping of their product through
various courier providers. Revenue has been
recognised when control over the services
transfers to the customer.

Interest income

Interest income is recognized on a time
proportion basis taking into account the amount
outstanding and the applicable interest rate.
Interest income is included under the head ""other
income”” in the Statement of Profit and Loss.

Contract Balances

The Policy for Contract balances i.e. contract
assets, trade receivables and contract
liabilities is as follows:

Trade receivables

A receivable represents the Company’s
right to an amount of consideration that is
unconditional (i.e., only the passage of time is
required before payment of the consideration
is due). Refer to accounting policies of financial
assets in financial instruments - initial
recognition and subsequent measurement.

Contract liabilities

A contract liability is the obligation to deliver
services to a customer for which the Company
has received consideration or part thereof (or
an amount of consideration is due) from the
customer. If a customer pays consideration
before the Company deliver services to the
customer, a contract liability is recognised
when the payment is made or the payment is
due (whichever is earlier). Contract liabilities
are recognised as revenue when the Company
performs under the contract. Contract liabilities
are primarily from deferred revenue and
customer advance for which services are yet to
be rendered on the reporting date either in full

or in parts. Contract liabilities are recognized
evenly over the period, being performance
obligation of the Company.

e. Taxes

Current income tax

Current income tax assets and liabilities are
measured at the amount expected to be
recovered from or paid to the taxation authorities
in accordance with the Income-tax Act, 1961
enacted in India and tax laws prevailing in the
respective tax jurisdictions where the Company
operates. 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
outside profit or loss is recognised outside profit
or loss (either in other comprehensive income
or in equity). Current tax items are recognised in
correlation to the underlying transaction either in
OCI or directly in equity. Management periodically
evaluates positions taken in the tax returns
with respect to situations in which applicable
tax regulations are subject to interpretation
and considers whether it is probable that a
taxation authority will accept an uncertain tax
treatment. The Company shall reflect the effect
of uncertainty for each uncertain tax treatment
by using either most likely method or expected
value method, depending on which method
predicts better resolution of the treatment.

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 liabilities are recognised for all
taxable temporary differences, except:

- When the deferred tax liability arises from
the initial recognition of goodwill or an
asset or liability in a transaction that is
not a business combination and, at the
time of the transaction, affects neither the
accounting profit nor taxable profit or loss
and does not give rise to equal taxable
and deductible temporary differences.

- In respect of taxable temporary differences
associated with investments in subsidiaries,
associates and interests in joint ventures,
when the timing of the reversal of the
temporary differences can be controlled and
it is probable that the temporary differences
will not reverse in the foreseeable future.

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

- When the deferred tax asset relating
to the deductible temporary difference
arises from the initial recognition of an
asset or liability in a transaction that is
not a business combination and, at the
time of the transaction, affects neither the
accounting profit nor taxable profit or loss
and does not give rise to equal taxable
and deductible temporary differences.

- In respect of deductible temporary
differences associated with investments
in subsidiaries, associates and interests
in joint ventures, deferred tax assets are
recognised only to the extent that it is
probable that the temporary differences
will reverse in the foreseeable future and
taxable profit will be available against which
the temporary differences can be utilised.

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

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

Deferred tax assets and liabilities are measured
at the tax rates that are expected to apply in the
year when the asset is realised or the liability is

settled, based on tax rates (and tax laws) that
have been enacted or substantively enacted at
the reporting date.

Deferred tax relating to items recognised
outside profit or loss is recognised outside profit
or loss (either in other comprehensive income
or in equity). Deferred tax items are recognised
in correlation to the underlying transaction
either in OCI or directly in equity.

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.

f. Property, plant and equipment

Property, plant and equipment are stated
at cost, net of accumulated depreciation
and accumulated impairment losses, if any.
Such cost includes the cost of replacing part
of the property, plant and equipment and
borrowing costs if the recognition criteria are
met. When significant parts of property, plant
and equipment are required to be replaced
at intervals, the Company depreciates them
separately based on their specific useful lives.
Likewise, when a major inspection is performed,
its cost is recognised in the carrying amount
of the property, plant and equipment as a
replacement if the recognition criteria are
satisfied. All other repair and maintenance
costs are recognised in profit or loss as incurred.

Depreciation is calculated on a straight-line
basis over the estimated useful life of the
assets as follow:-

An item of property, plant and equipment
and any significant part initially recognised
is derecognised upon disposal or when no
future economic benefits are expected from
its use or disposal. Any gain or loss arising on
derecognition of the asset (calculated as the
difference between the net disposal proceeds
and the carrying amount of the asset) is
included in the income statement when the
asset is derecognised.

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.

g. Intangible assets

Intangible assets acquired separately are
measured on initial recognition at cost. The
cost of intangible assets acquired in a business
combination is their fair value at the date
of acquisition. Following initial recognition,
intangible assets are carried at cost less any
accumulated amortisation and accumulated
impairment losses. Internally generated
intangibles, excluding capitalised development
costs, are not capitalised and the related
expenditure is reflected in profit or loss in the
period in which the expenditure is incurred.

The useful lives of intangible assets are
assessed as either finite or indefinite.

Intangible assets with finite lives are amortised
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 the amortisation
method for an intangible asset with a finite
useful life are reviewed at least at the end
of each reporting period. Changes in the
expected useful life or the expected pattern
of consumption of future economic benefits
embodied in the asset are considered to
modify the amortisation period or method,
as appropriate, and are treated as changes
in accounting estimates. The amortisation
expense on intangible assets with finite lives is
recognised in the statement of profit and loss
unless such expenditure forms part of carrying
value of another asset.

Intangible assets are amortised over a period
of 3 to 8 years basis their estimated useful life
on a straight line basis.

Research and development costs

Research costs are expensed as incurred.
Development expenditures on an individual
project are recognised as an intangible asset
when the Company can demonstrate:

- The technical feasibility of completing the
intangible asset so that the asset will be
available for use or sale

- Its intention to complete and its ability and
intention to use or sell the asset

- How the asset will generate future
economic benefits

- The availability of resources to
complete the asset

- The ability to measure reliably the
expenditure during development

Following initial recognition of the development
expenditure as an asset, the asset is carried at
cost less any accumulated amortisation and
accumulated impairment losses. Amortisation
of the asset begins when development is
complete, and the asset is available for use. It
is amortised over the period of expected future
benefit. Amortisation expense is recognised in
the statement of profit and loss unless such
expenditure forms part of carrying value of
another asset. During the period of development,
the asset is tested for impairment annually.

Intangible assets with indefinite useful lives are
not amortised, but are tested for impairment
annually, either individually or at the cash¬
generating unit level. The assessment of
indefinite life is reviewed annually to determine
whether the indefinite life continues to be
supportable. If not, the change in useful
life from indefinite to finite is made on a
prospective basis.

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 or loss
when the asset is derecognised.

The company carries out the impairment
assessment of the intangible assets available
at end of each year.

h. Leases

The Company assesses at contract inception
whether a contract is, or contains, a lease. That
is, if the contract conveys the right to control
the use of an identified asset for a period of
time in exchange for consideration.

Company as a lessee

The company applies a single recognition
and measurement approach for all leases,
except for short-term leases and leases of low-
value assets. The company recognises lease
liabilities to make lease payments and right-
of-use assets representing the right to use the
underlying assets.

i) Right-of-use assets

The Company recognises right-of-use
assets at the commencement date of the
lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are
measured at cost, less any accumulated
depreciation and impairment losses, and
adjusted for any remeasurement of lease
liabilities. The cost of right-of-use assets
includes the amount of lease liabilities
recognised, initial direct costs incurred,
and lease payments made at or before
the commencement date less any lease
incentives received. Right-of-use assets
are depreciated on a straight-line basis
over the shorter of the lease term and the
estimated useful lives of the assets is 36
months to 60 months.

If ownership of the leased asset transfers
to the company at the end of the lease
term or the cost reflects the exercise
of a purchase option, depreciation is
calculated using the estimated useful
life of the asset.

The right-of-use assets are also subject
to impairment. Refer to the accounting
policies in section (i) Impairment of non¬
financial assets.

ii) Lease Liabilities

At the commencement date of the lease,
the Company recognises lease liabilities
measured at the present value of lease
payments to be made over the lease
term. The lease payments include fixed
payments (including in substance fixed
payments) less any lease incentives
receivable, variable lease payments that
depend on an index or a rate, and amounts
expected to be paid under residual value
guarantees. The lease payments also
include the exercise price of a purchase
option reasonably certain to be exercised
by the Company and payments of penalties
for terminating the lease, if the lease term
reflects the Company exercising the option
to terminate. Variable lease payments
that do not depend on an index or a rate
are recognised as expenses (unless they
are incurred to produce inventories) in the
period in which the event or condition that
triggers the payment occurs.

In calculating the present value of
lease payments, the Company uses its
incremental borrowing rate at the lease
commencement date because the interest
rate implicit in the lease is not readily
determinable. After the commencement
date, the amount of lease liabilities is
increased to reflect the accretion of interest
and reduced for the lease payments
made. In addition, the carrying amount of
lease liabilities is remeasured if there is a
modification, a change in the lease term,
a change in the lease payments (e.g.,
changes to future payments resulting
from a change in an index or rate used
to determine such lease payments) or a
change in the assessment of an option to
purchase the underlying asset.

iii) Short-term leases and leases of low-
value assets

The Company applies the short-term
lease recognition exemption to its short¬
term leases (i.e., those leases that have
a lease term of 12 months or less from
the commencement date and do not
contain a purchase option). It also applies
the lease of low-value assets recognition
exemption to leases of office equipment
that are considered to be low value. Lease
payments on short-term leases and
leases of low-value assets are recognised
as expense on a straight-line basis over
the lease term.

As at the balance sheet date, the
Company has only short term leases for
which exemption has been availed.

i. 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 Company’s 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.

In assessing value in use, the estimated future
cash flows are discounted to their present
value using a pre-tax discount rate that
reflects current market assessments of the
time value of money and the risks specific to
the asset. In determining fair value less costs of
disposal, recent market transactions are taken
into account. If no such transactions can be
identified, an appropriate valuation model is
used. These calculations are corroborated by

valuation multiples, quoted share prices for
publicly traded companies or other available
fair value indicators.

The Company bases its impairment calculation
on detailed budgets and forecast calculations,
which are prepared separately for each of the
Company’s CGUs to which the individual assets
are allocated. These budgets and forecast
calculations generally cover a period of five
years. For longer periods, a long-term growth
rate is calculated and applied to project future
cash flows after the fifth year. To estimate cash
flow projections beyond periods covered by the
most recent budgets/forecasts, the Company
extrapolates cash flow projections in the
budget using a steady or declining growth rate
for subsequent years, unless an increasing rate
can be justified. In any case, this growth rate
does not exceed the long-term average growth
rate for the products, industries, or country or
countries in which the entity operates, or for the
market in which the asset is used.

---

Mar 31, 2024

2. Material Ytiuiiiuiiig PupjHvv

2.1 Miitrnieiit ofcmnpllance mid Batik ni pirpuraliiHi

Tlv financial sipwmctiis »i itlc Company haw been prepared in accordance with Indian AcciniiiMtie Stnodardi Ibid AS| notified under Set non |J3 o11 •ompaiues Act. ’(113 ulic Atu
iced willi I he t .impatries (Indian Acc.imllng Standards) Rules 2(11 i las amended limn lime lo limel tasucJ h> Ministry ul forpnrjlc altiirs anil prevent. m..ti rcatrirancius til Dn no,in II
u< Schedule III in (he ( rrmptmies Aer. 2»llilnl AS compliant Schedule III >

I lie ftenrial swiemeirts have been prepared nn a hisniittal cos( basis, except fur certain liiwneiul immimenis winch luve been measured jl hut value _u explained in ilic seewiffllnil

policy id linanci.i! mMiumciiJs:

Til..'' financialiimenwnti are presented i« Rat. and alt values are minided in the iicUrMI miriioMl IKa. JKDWNKIh CM-cpl when otherwise mdiealed (figures less than Rs. (1,05 _ln,llhms |ia*
fnf''tfli ilteckh-lttl a> "0 INwhejt there arc mi <1111 mac iuwk or balance, same ikdiMrtuted ttfc ^w-”|

I lie l timpany has prepared llie financial Itlulewmn nn the basis Hint il will continue In operate j.v n going concern. I he litcmeial statements provide emnranilrvr informal inn in respect
at the previous period

l~l >»iniiuirv or muimill uccnutiiing polirte*

a. 1¹ %c of ilitiiruilt i

I lie preparation Clltc financial siMcinentx hi conformity wilh Ihe principles or I ltd AS require* the management m mule ]ufeiwni». estimates and assumptions that dice I the reported
JttUHJnU 111 revenue* expenses, assets ami liabilities and the ilisclawnc 111 comingcnl liahililic*. at llie end unite reporting period. Although these animate, me based tin lire
iitan.igcihcnl S best knowledge id euirenl events nml ncliuns, uncertainly ahnui lliesc asuililpliims and evtintUlcs e.inld result in the •mtennes leqaiiuic a iiutcit.il .nhitstmcill In the
i’Jiiyinti .mhiLiiib til atids orliabElillcai in fintirc period-.

I lie estimates and underlying assutiipliiuni are renewed un an ongoing basis Revision* l» accounting esdimales arc recognised in the period In which the cstimnic is r cured if the
revision allccisonly that period, nr ip llie period "1 the revision jud future periods il the rcvMtrn allectsbotli eurtein and lulqre petimls. In particular, inlnnitation ahmit lire significant
.Ileus ot estimation, uncertainty .mil crhieul judgements in applying nccmmiing policies that hove Ilic must stgnriicanl ..........lire .imminMeeniimscil in lire financial infiwuuil.oos

l>. Cutrrnf vervus noo^current datkiritatiiut

I lie I''trinpany presents assets and liabilities in lire halutxc street I''.octl nr curtain null-current I l.issilknlh 111 An lUisel is treated as current when it is

- I''vpci’tctJ 10 hi* icu!i!*cU or inicrulctl to he sold nr consumed m r"nu;]| ops: unrip
-1 Mil primarily lor Hu: puipow ol iraditij!

LLxpetietl to he rwllMftl williin twelve nuiuilh after ilw icpuMmp period, ur

- Caih or cash cqutvuk-m ujiIw ruilnciciJ frum hwlug cxclwn^ril xMc a liability lor ji Icom iwetw months niter the n*piirimg
All mlici ure clasiHtfietj ^ iiuii-cum:ill

A liidtiliiy b.£UiVdft1 when:

- It is w''vptvh’fl io Ik* -.L-iilcd m mutual "perilling cynic

- It !•» held primarily Ibcfhc purpoyc iit''lrHLliiig

• Il i • due lo be- tcilL-i! within twelve rnonihs alter ilic reporting period, or

- I lieu* I- no unworn III inna I nubi rn deter lire wlllcmcm id ilic hubilpy fur ji |fj?*t twelve rnuntlWi ufttr the repurtiim period

- I III- lenm til ilic llaliiltly that could, at ihe option o( the cnunicr party, results r« M* KtllamatU by lira issue of equity iitslrumcnis do nut affect its dasulkaimn
I lie hmrn ol the Ifal’ihly that amid, ai (lie opt I nrt ol the counterparty, result inns sciiLsmeru hy i|_(e issue of cqurls installment* dn nut alTcci its ilmtaifkatinn
lire Cumpam*classifies nil uilict IhlbilllU''s as nuilA''uiteni

LKTcrrcd las tWKfs''hatiilitici uic elavsilieil .is linn-euirenl assets and liabilities.

I lie npcrating cycle is llie time between the ucqulstliim ol JsScb lur pniecssing ami llicir rcatUalnin in cash and cash cqaisalcnu. The Company has nlaililied Iwcbc immilis as as
upcialiiiu cycle.

c. Fair value measurement

the fompum measures llnjinial iii.iimiietns, mh li as. derivative. .11 fair value ai each (valance .|,eel Jan-

F"” ^v“^Wc “ "^,cl^wi“ “¦^uuU ** ^w *" « “«•«P"“i 1“a Itabllhy In an onJcrlyimmueiion between marU-i pumcipuuls ai the incaautena.nl dale flic ft,, value

Hkmurerocnl i> ImhclI mi lit c pna»uiiipiiutt itai the uaiLsatium to .Mill I he uN>tl nt iramlci Hie Iwbtfifj iako plate either
• In the prmcipul tuarkcl for (lie ;n»s$i or liability, ur

- In I he absence ula piiueip.il market, In d,e must advantageous rii.iii.el Ini lire .reset nr Itahillry
I lie principal nr the ItrioM advantaged ns llKtrkel must he accessible by tile (Tttnpuhy

I lie la,, value of an assn, nr » buhihtv is meusuted using the .resumption, Hum market puH.ci punts would use when pricing the a,or liability, assuming lh.„ nurivci pan.enwnr. cel ,n
Ihcir economic best inicrcjrt. ^{1 1}

A fuir v allte- lltensuiemcivt of a i„n..fmunelal .is.vci lakes inln ace,mm market participant vdhilil, U. generate economic hcnellls by using live asset III II, limheN ami bcai Use or he scllmu
it lv» arm I her ntarltct participant Mini would use the asset in Ms hiuhcct aiul Irtrei use

The Cuiiip.tiiy uses valuation techniques Hi,., arc appropriate In the ciieuitiManccs and lor which Adr.ciotl dula arc available f measure lair value. iiminiwi,_F H,_c use .,1 tclcvunl

ubMrn..tbfc iiipui^ Htlti nil mini silty lilt il>c ol unob»ci v.ifole inputs

All Meets and l.ahiliiic.e fu, which t.iir value Is measured ur disclosed m the linuncinl stuiciuenls arc ewegurtsed with in rile fan value hierarchy, described ov follow*, based oil the lowest
level input lh.ii luignllknut tu ilte liur value measurement a> u whole
-I cvei | piloted I unadjusted) market prices In active iiiatkciB for idemical nwcls or liabilities

l.ev.l 2 VallaliUH techniques lot which die kwetllevel input ili.il is significant hi die hur value mcjvuiemetil is illrcclly nr mdireelly observable

level • V Uliiiiliutt techniques Tor winch die haunt level input dial i* significant i« the lair value measurement is unphscrvahle

Foi atwsu and liabilities dial arc recognised u. ,he hnannal Mawmetlls on a recurring basts. Ihc- Company determines wired,er irmisfers have occurred between levels hi the hierarchs hv
re-asse-ssinp ealegun-,.uiun (hjscd olt die Imvcsl level input dial Is MjHiifivMiil Hi die lair value measure., *-,,1 us a whole) ai die end of each rvpnrlmu period

At cue I, rcp.il Imp dale. Ihc IW analyses die movements. in Hie values., (assets and Hub,litre, which ».e reqvmcsl nr be remeusittevl or re assessed as pc, Ihc Company''s ucwuintmc
pOliBIMI. For lb,a u,,»l«„. the cm ver.llcs (he- major inputs applied in the latest v-.dual.on by agreeing the inrirrmutuit, ,|,e valuation computation lo CMUriKband oilier relcvam

I lie CB) also compare Ihc change in the fair value ill each asset and liability will, relevant asternal ...mces HMlctcrminu whether lire change is reasonable

Fm i lie purpose of lair value disclosure-,. Ihc Company lu.. dolcrmhted «!.«« ofttsselv and ................hr has, s of die nature, character „nes and inks of die a,ve. or iiabdliv and Ihc

level ui die fair value liiei''iireliy.is evpljuied abuse

I In. m.ie summarises aceuuntinp policy flat lair value Other I''urt value iclaml , Inch .sure. aie given in die relevant Holes

? Disclosures 1or valuaii™, methods, significant evil males and assumptions I note 7b. 21.31, VI j

? Oujidilulive diselosuic. o( larr valuemoisuremenl hierarchy fnriK 2fi, 29)

? Fiiuinernl instruments (mefudmg llltise earrierl al amortised tv,nil (note 5. 2b 2d A II i

il. Heiciim- from cuuiru els with ciwlunu-rs

Its’venue Horn vamrael-s with eUsMinel-. ,s rccnnm.cJ when control ot ll,e good* services, lire irnnsletred to Ihc customer ,,| un ainouql lh.,| redceiw the cillMdemlhin lo which Ihc
ouipjny expects ... he Winded III evehttm-e hit those goods or Brrviccj.. The Company has eoncluded that il ,s Ilte principal ,n ils revenue arrangements, beemure it typically eollllols die
p,,.Hls ,„ -Civices helore tun,felling them Lo the CUMnnur when the payment .. luring made Tile spcetltr recugiiltiun cnleriu deKrihcd hch.w n.„s, „lhe met before revenue ,v
nx*upiirt*il:

Jt)t \ttftn^lurr u.\ a Service Jjiuntie fSun.S fnenitic)

Rc^tfnucs Inim SiinS Ina.nw ^otiiprtx-> nl tiillimmg*

II Fixed ureome per lr.ins.ieiion uull and ,.v re-eognised when relatednwisactmirv are perlonticd Willi euslonK.s Fuell transacnon unu i-. ddilied as sutgle shipmenl and return shipment us
|KTOo"ie.! Ire euatumers Kevunue Irmtt serv ices me del erred till u n received by (he rmliimers and is disclosed us deferred revenue

ol Revenue Irom (liber supporr lee is reeugittsed when die company csrrivvmit certain eimnmirairons m.vdifiemu.n, nr olhcrc hunger depend mg op lite tlienls requiienttnt
nil Revenue from pciucssiytial lire is levugllLsed upon rendering ol ptoleulunal services on ., monllily bq.is
iv , DtsCuUnls prm idcd n> evunomefy are nelled ofnriim the revenue Ovuii conlmcfi, »j|li cum,,ours
tnremu Inroim-

Imere-sl iriv-onie re revogm/cd mi a lime propimlwi bav.s l at mg into ncvmml lire- .miouni uuiwandlng and die applicable mfeie.i rale- Inter a. l income is Inelurled under the head T,ihei
incrotiu.- m ihr fclMtfiiivni H Pinflt .inJ I uk

( uninici Buiancvsi

I Iil? Kilivy kn hulilJlwc* i c irmiiriliI Imdc icvcivaries ami w''lmtllltl Iwlnluiw is: as f''ulInWi

Trude f cieiv jlili a

A iccciv Jhle repiestcaullio Cnuip.oiv'',. lieii.i loanrnmnnairiednshlenillrta dial isUMfmlilion.,11,, only die pjss,ige nl lime is required K-boe payniem ,,l ihc ..m.ideialioii is duel.

Kl*fci iii iiccuunMtig pnliciL-v ol liromtiu! ns«h in linaiui.il itintmiucuh indiul rccngntiuui an.I snbMfijii^ni incu^uiiMiwnl
t uhlrucl Ibhilillci

A cunltact liability is die obligation l» dehsei services to a-os.oore-r for winch the I onvpanv has lectivci eoiuodcrutron or pun thereof fcq «_n miKiit.ll ol e.iresnleniinm is duel from |hc
V il.lome, II m v, 1.11ui,or pav> vmiaJor,,,,,, heh.re tile c oo.pquv deliver -met- l„ the VUSIomer. a vonlrael lo,hd.lv „ reeogmse.l when die paymeur b nude or die p.ivu,e„l l.due
sT is earlre-il. C onHad liabilities are- iixoginsed a. revenue when lire- Company pofuinw under the conlruct. t .mltaei liabihiics aie primarily Irom deterred revenue and
uqsnmter witvaiiee Oir which service. „re yel lu be lemlemi on the reporting dale cilliur in tlill sir m path, r.nilmct lo.hilit,e-» me recognured evenlv ,,v e, the pemot. he.ne nerlormrirtec
obligation of die C rmipany.

c. Tatra

Current imuim- lav

CtllTcill income lit ilsscli ttrttl liabilities are measured .il IIItr amount expected to be recovered Irani nr paid In ihc luxation nurhonties in accordance with the Inenine-rux A*1. I*>0l
enat led in India and 1us luw» prevailing in llir tnpec''livc tax jurisdiction:! where the l ''nmpauv npctitlw The tax rules ami lax bw» used In enmpiilc Ihc Jinounl ire those lli.it me outvied
or Milntantively ertaeied. at llte reporting dale.

I Hriciil income tat relating In Heim recognised outside (until or luss !'' recognised Hillside profit nr low (culler in other tain [Hell*: mire incnitu* or in etpiiiyi I''lirreut fits Items are
recognised in correlation in the underlying Ininxattiim either m ¹KJI or direeliy in equity Manage merit periodically emlumev posilhms ml. en in llie mx returns with topgcl M miualmn*
in which applicable lax regulation* arc vuhjed in iiilerpreUImn and considers whether ii is pmhahle ili.n a taxation autlmtiiy will aetepl an lincerlilin lax lieaimcni Hie Company dull
felted tile clleel ol inieellainlv lor eaeh ilrieciltiin tax treatment by Using. eillict must likely metlloil nr cxpccled value method. depending rm which mellmd predict'' heller rcMlIullim ill
lire I real mem.

IHrerred rax

Derailed lax is pmvided Using I fits liability melliiid nil lemporaiy dllllrenccs HelWcirtt llte lav haxci* or asset* ami liiibilil It:* anil Ihcn * any i nr amounts li« finiineial reporting purposes ai
l he reporting dale,

Defer led tux liabilities are recognised |ur all taxable temporary differences, except

- When llie dclermi lax linbrhly arises fromihe inuial recognition of goodwill or an a*sm or habilily in a Irinwcliun Mini is not a business combi nun on and. ai the nine ol ilic mmsacirnn.
jlleei* ncilhei llie arc mm I ins prnlii nor luxahlc pi 11 IT I or loss and ''|nc> nnl give»i«c In equal taxable and dedueiihle lempniary iltlfcientes.

- In respect ol taxable temporary .lillciente* associated with investments in subsidiaries. uMwinfev and interests in joint vctvmres, when the inning nt''the tevenaii ol llie lempiirury
ill I lr rentes can Ire eolllntlled and it iv probable lltnl the temporary differences will not reverse in llie forex edible turn re.

Deterred lax axsels are reengitned fur all deductible leiltpuraix dillcreili.cs. Lite entry tnrvvatd ul unused lax trcdils and any Unused lax losses Oefcircil lax assets are recognised In the
extent iliat it is probable Mini taxable pnvlii will lie uxnilahle against which die deductible tetnpuraty dUL''crciiccs. and die carry fit nr ardofunused lux cnydits ami unused lax loss*:. can be
uiiliseil. nxcopi:

- When the deferred ms asset relating i« the deductible letuputaiv difference aitscs friini llie inn ml recturmiion of an asset or liability m a irani.iclioii Hint is not a business eiindiimiiiun
ami, ji Ilic- lirue of the iraiBaelion, udee|s neither llie accounting prnlii nor luxuhie pmfii mi loss and does nol give rise In eipiul taxable mill dcjucltlilc temporary ilitferancea.

- hi re speel ul deductible leniporary ililTcrences associated with investments in subsidiaries, associate* and mlcic i. in joint ventuies. ddettx’d l.l X assets'' are ivcugniscd only in the extern
Hull II is probable HlUl Ilic lenipotary ddlcrcUces Will reverse in llie Ibroccnhle lliliirc and taxable profit will be available ngninni which the leniporary illIfc’ienee* can he uldised

the carrying amount ol detenvd lux ,i**elK i* reviewed ai each Irpiillltle dale ami reiUiccd lit ihe cMenl Dial il is no lunger piobable lltnl Millicicnl luxulile prolii will heavuliable In allow
¦ill or pan of the deferred tax asset to be utilised.

Lhtrecugnised deterred tax assets ate re-assessed at each repo nine dulc and are recognised to Ihc extent that il litis become piubalde that future luxulile profits will nlluvi Ihe *lelerte*l lax
asset n> be recovered,

Deferred lax assets and liabilities are nieasined at die rax rate* dial arc cxpccled to apply in Ihc veal when the asset is realised or (be luihility is sellled. bawd on tax rates (ami tax laws]
dial have been enacted nr niihvianlivcly enacted in the reporting dale.

Deferred lax rvlalillg in ilctm leeogiusctl outside pruTil ur loss is tveiigiiiscd Hillside prolii nr Ins.* (either in nlllti eniuprchcnsivc Inenine nr m eqodyi Deferred las hems arc recognised
in concdniuin to the underlying ir.uis.ieiiiin elihcr in < >i i m directly in ei|uily

Deferred tax assets and deferred lax llabilllio are otT.cl if a legally enltiiecablc right exists 1o sel olf current tax assets agaimi eurrenl lax liabilities and die deferred taxes retale lo Hie
same unable enim ami Hie same taxation authority.

k I''rnperlv. plant am! e(|iiipiiieiit

I’rapcrly. plan! and equipment are .luted at cost, net of accumulated depreciation and iieeuunilalcd impair mem lu-.:.e>, il any. Such cost include:, llie coi.i .if rijil.H : ill; pari of die property,
plain ami equip mem and borrowing en»i* if llie rccoenniop criteria arc me| When significant pud* of property, plant and equipment are required la he replaced ni intervals, llie Company
dcprecmles them vepurnlcly based an their specific usdal lives. Likewise, w hen a inujar ins''peellup is performed, ns com is recognised in die eurtyone amonni of Hw properly, plant and
equipment as a replacement i! the recognition ciilcriii me *;i(isited. /Ml other repair nml mainlcnancc cauls arc recognised in profit ot loss as incurred.

Dcprecialion is calculated on a •imiglH-lmc basis over ihc citinulnl useful life ofllic assets as follnw -

An item ol piopetij, plant and cqaipnteiti nlvd any significant pari initially recognised Is derecognised upon disposal or when no future economic benefits arc expected Irani Its use or
disposal -\:iy gam or loss arising on ilerceoeiiLI inn of llte asset (calculated as ihc difference between die ncl disposal proceeds and the carrying amuUfi! of Ilic asset | i* included in llie
income sluteineilt When Ihc iixscl IS delL-eoynised

I he rekhludl values, usc-lul live* and nwihnds nl deprecullon ol pmpenx plain anil equipment arc revtswe*! at each linanaal yen end and adjusted prospectively, il appioprialv.
g. I niam>itde assets

Intangible .LssCLs ucqlliltd separately are measured on IllilUll rccognltlnn nl cost I hc C*I*I ul inrangihlc nxsctv acquired in a hnsincv* ctimhinrttion is then (tier value at the dale of
.icqillsihoil. Idlloivlng inuial rctagliilr.nl. itiwitglblc i * *.-!-* aie mined al cost les* am acCtiniulnled anlnttisalinli and Itcciiinulnlcd nnpairuicnl losses. Inlenutlly gene retell intangibles.
g\clulling ¦. apiialiseil tlinclnpnum ensis .tie mil enpiuliH''d and the icl.iied cxpcndliui. isleltcvicil in ptnlii in loss in Hie podhd In vvldcli the vvpvnditutv i> incutrcxl

till'' useful lives ol nituitgllllc assets tire assessed as cither Unite or indcliiiile

Inungibls- a>.eis with finite live* are amoniacd over Hie awful economic hie and assessed fru tmp.mjiietil wlienevei itici* is .in uiHietilinii that Hie ml.mgiblc nisei may he unpaired. I lie
.niiuiiis.icmn period anil the nmoiitsuliiin method lit an iniaiigible uuul vvilli a finile u-clul Ulie ure leviened al leasi ul Llie end ul each reporting period. Change* m llie expected use till
Ills'' or llie expected pnlleni ol eon sumption ol Inline eenuoime benelil.s einihidled in the a*.sc! areeon.sidewd lo iniidify Ihe uimirlisaiinii period iir ineHiml. as apprnpriule, and arc Healed
as changes in aci omiijitg usnmales Tlic aninrtiaiilinn expense on iiilaiigible assets with fliiiiv lives is recognised in the sialemcnl ol prolii and loss imle.*s sueli expendhuiu Imm. pail ol
eanying value of unoilicr asset

I he < ’nmpany uu-uc* Jt reumact inception whethera contract is. or twmums, i lease. Tin is. if the cMlraei (anww the right w eramul ihe use ufan Idcmlied _as5ci l„_r a period „|

lime in vMium^e ¹

( nmpaut uh a livin''

1 he company applies single recngntlivm and l«ca«,renk-nl approach for all leaves. except lor sllun-lenil leases anil leases ..I low-value The cnTnpauy resounds lease HahillHeS
iii moke ic.isc payments anunghi-owuie ukd rcprc^nimg ibe riylii lu use ilic under lyinj* a^U.

i| Uiiilil ul-iiM atncl%

I lie Company rsenjsitlscs figbhofcusc assets al Hie commencement dale Id flic lease h.e.. the dale the underlying assei |« available lor usel. il.clil-of-use Jsscls ate mcasuted ai rm, lo«
any iieeu.null" ed OejUWtalkm «kl krevre. and .,d,«d«| lor ttfiy freneaMintmenl of lease I,ah,hi,e* I he c..si ol tight- ur-uve ttHK includes the mm,it,"lease bablhhcx''

recognised, mitral dr.ee. cmh incurred. npd lease pav.nv.K made U « helore .In- y„mmctu-cn,cot date less any lease juucpiw revelved. Riglu-ol-use UUrtr rm> deprecated on a sua.ahr-
•^,,w ™^{SW ,JVcr} M^{,e shur,fr 01 ,he} ictiiiamJ ilic «ihiuitftJ mmIUI lives«»i*the ukbiv u> in mm\ba in Vi month*.

eluT h^lf !l,eassel''^ntd ''** ^W"^W "* ''*''* ^lcMC lCTn''«^tJ,u ««'' of a purchase opium, depreciallnn ,s ealealaied using rile estimated

The rlghl-oMlse assets are also subject til linpalmiem Refer in r lie me mini mg policies in scclinn til Impairment of nor-tinanelal assets,
ilf I ease I i;ilijlities

Ai die enmmcnecrtMnl dale 1*1 the lease lire Company recognises lease luhlliiic. measured al the present value i,| Ue |.aymen.s to Is. made over |he lease lenn. The lease payments
nuh.de lived payment* (.neludnig ... MlMltCC Used tuynicnisl less any lease incentives receivable ViiM* lane payments 1lr.il .lc|.er,.l.... un m.lcv ,.r,. ,aie. rurd ...mums eM.ctleil lu

he paid mulct rvvulunl ya rn: gnaranrees. The leave payinenrv also include Ihe cvcre.se pr.ee ..I a purchase op......reasonably certain r„ be exercised by d.e t on,pans and puuoems of

puullres lor Hmil.flal.njr Ihe lease....... leave let." tcITeyfe. the Company exercising life opium lo lerminalc. Variable leave puymenb I hat do nol depend on un Index or a rale are

rei-otmiscd as expenses (unless they are incurred p. produce inventor**) in Ihe period in yvlueh ll.e even, ore.mdldon dial ruugere the payment occur..

In calculating Wc preset,I value ol lease pavmemv, Ibe Company uses .lv Illctcmenial tiurtowinn rale at tire leave commcneenrem dale because the nncrvsl rale implicit „. the lease ,e run

reml.ly dele rum table. Abe. the eohm.c.eemunl date. II,v amour,.....cave liabilities is increased I.. reflect Ihe accretion »r interna and reduced li.r the lease payj.il> made I., addition

the carry mg ann.niil id lea* lial.dn.es is remeasured .t dime ,v « nnrdiflcatflun, a change m die lease term. „ change m lire leave payments le.g.. change, lo future payments resubme r,.„„
a vl.a.ige in an index nr rate rived 10 determine such lease payments) or a change in Ibe assessment ol air apiiott purchase the un deriving nsvcl

Iii) Short-term leases uml Iravty at low-vatue assets

the Company a|.plies ll.e short-term leave ............ exemption to us slont-lcm leases |..e„ lllose lenses Uml have a lease lei,,, ol I2 rnomh, or lev, I,.,,,, the eommeneeiueiu dale an.l

d* tot contain u pmchave opio.i.t |i aim applies the lease of low-> aloe novels recognition exempt ion lo lews c*| office equipment that are considered l.. be low value I caw gasmens
un -Vh.in-rcnu leaser, and lease* ol bm-va|ue assets are rceugll tiled a, expense on a Stra.eli1li.ic basts over die lease tcritl-

As a. die balance rtllcct dale, die Company has only shun term leases fa. veluelt exemption has been availed,

i. Illl|l.ilrrt1rnl i»f niiri-finuiicial 21 **i'' Ih

The Company iwmu at east, repretm* dale, whether three is an tmlicaiion that an asset may Ik- .mp.tf.cd. If any indieauun cv.sl*. when annual imp.,,,mem test.im lo, an asset ,s
ivipmed, die omnuny eslumte* Hie .isscl s recoverable ann.u.n An asset''s rev.ix arable um.runi is Hie Hifther of on asscl''s or eash-oeneialint! vmtl''s |C(il!l fair value less v.vtv
I vpos.i and uv VH tie ni use Recoverable anumnt Is deleninm-d Ibr an individual asset, unleis ihe asset dives nnt generate cash Inlluwx Iha. are larrteK mdependeitl ol lluwc Imm other
«SCM •« l Ullipum i <»1

Wf.cn the tarrying u.nuunt ofun asset urt.''OU eveeeds lb recoverable umoi.nl, live asset iv e.ins.dereil impaired and rs winter, down lo tu recoverable amount

In luavcssinc valua in Use. It,e culm.,led lulule east. Iluws are dbwoouted to then present value Usmepre-tax discount .ale that rellecfe eurreni .na.hyt asscssmenln ot the rime value ol
nivney and die rule, sprain to live as.ei. In delettrumru ia„ value lew eon. of disposal recent market iransocMons are laker, into aevoum Ifni, such tranweliuns eon bo idenlrlied an
apprv,prime ''-alntlUun model is used. Iitese calculation* arc eorrohoriued by v aluation mulliples, rputre.1 share prices lor publicly traded companies or,alter .iy.nlj|,lc Inir value aid.calo.s

The Company haves ,Is oopaumem calcnluli.m on dela.fed bo,lye,s and I''nrecailt caleuUr.ons. rvloci, are prepared vcpararel, |o, earl, of d.e CmpanC, CUUs lo vshlcl, d.e b,div.dual
'' ¦'' " '' '' .f - JU" ^bUdS^eM "^{ml loht}*“^l aei.enilly co e, B pc.ind ttl live years I or longer penods. u long-tern, grewth npc |x vnlculvlled and applted lo preoec. fuln.e

f*T "^U1 "V"''" S ^T0 “^rfB*L^le l^,r"^lcc"^olu'' ^b*''"v^,''"‘^l CMMmI by Ihe MM reccm budget* tbreysat*. The Company cviriipc.la.es easli Haw project I. mn dr the

budged using II .Steady or deelmiUc'' crowd, late for UUhrequm. yea,*, u.ilcs* an mcreiKing tale can be jlWilkd. In any case. Ilo* grmvih rare docs uc.i exceed lire ImiR-lerni ai crane grow lb
rale lorilir pool,lets, .mluxlncv, ui''euumry nrcountnc* in wllicli ll.e entity operaies, ot lor dte nilllhct tn which Ihe .re.cl is Used

(rCllcml

Provisions arc lecouinsed wtai llic Cranpnnv ha* j present obligation (Icgtil or iorutructiu:| as j ursull u| a past event, h \% piobabh? lh»l tin oullfow nt fCAOurees embodying cttilfoinic
Ifoliclitx Will he Required In settle llic obltynllun iiml .1 reliable eslimulc can lie itwiiJc uf the utnounl uf the obliunthm. Whan the Company expect* »oim* in till «•!'' j piuvUlun to he
reimbursed. lor example, under .111 insurance contract. die remiburxcmcnl is recognised as a scpnrafo duel, hut only when 1 lie reimbursement 15 virtually certain. The expense reluiim: t«v u
provision is presented in live statement ol profit and 1owt ucl of any rciniliurKcmeni

ll Ihc effect ol the tune value ut money is material. pin visum s. jjo discounted using u current pie-ux rale ilmi re fleets, when appiupfitllc. the fbfcks ipccilii to tliu liability When
discunriirng is used, the increase in die prnvtoiun due l»» the pitSMfe uf lime is revugnijHiil 11s a finance ciw.1.

k. Retirement and coher employer liruefiK

Reiiwmrni benefit in the form nf provident Hind is a defined wontnlniimn scheme. The Cnmpany has tin obligation. other tituit tile citniribiition payable to the provided! ftiml. Tike
1 ''ompany iccofinweH contnbuliun payable to ihc provident fund scheme as an expense, whim an employee renders the mined service. 11 the conuibultofl payable 10 lhe scheme for
service rcCcned he fore Ihr balance sheet shite exceeds (he contribution iiItcxhIv paid, the il elicit p.iyuhle to ihc vchepH'' u recugm/etl as a liability after deducting ihc eutltribillioil ulieady
paid ll the contribution already paid exceeds the conmhiitmn due for service* received before the bnbince sheet dale, then excess is recognised as aat asset to the extent 1I1.11 the pre¬
payment mil lead li*. I in example, a reduction m future payment nr a cash refund

In ac» nr.Jancc with Imlun luu, ihc Company provide* for gratuity. u defined benefit rcuicineni plan (die ~Ciruiiui\ I''turf) covering all employees file (inniuiy Plan provides a lump sum
payment m vested employees on retirement or on tcrnijnafiun of empUiymeni fur an anKuinl based un die respective employee^ salary und llu year* of employment with rlu* \ umpan)

I lie cost oi providing benefits under the defined benefit plan is determined using the projected unit credit method based on nn actuarial valuation performed by .111 independent actuary

Rctiieasiircnicttts, comprising of actuarial twins utu] losses, liver cllcci ol the asset ceiling, excludingamount* included in net infotesi on ihc ucl defined benefit liability und file return nn
plan aiociy (excluding amounts mi eluded in MCI Interest on the riel defined benefit liability), are recognised imntcdiatoly in the balance abort with a cm responding debit m ciadn m
lc I umcil earning?* llkfikiigh 11 remen is arc not reclassified 10 pxoliL ur lotus. in Mibstii|uefit peruuU and ihc return un plan anseff'' lexehlllin#
amounts mi* I Hik''d lit net hucrcsi on net defined lie net''ll llahilHyt.

Pasi sen urc ermlj arc reimgitiscd in profit or loss mi tliv cjiIki ol

- Tlid date of the plain umcruhncnl ui cuiiadineiit, mid

• 1 he dale thill Ihc Imiiji.im ic cognises related revimctilling costs.

Net UtkcTeil is c.ilcuUlcd by app King! lie discount rate to the net defined benefit liubility or asset The tViinpauv recognises l ho following changes cii t|u? net defined bcfltflll obligwiion as
an expense Hi fitc iniUolidalcd statement of pod''ll and loss:

Service co-»i> eomprwfl^ eutrent .service cuKta. past-sen ice costs, gains und Iujcscs hr curtail me ills and nun ruuluiL'' •wllk''iiicnts: and

- Net inlertsi cxptmac nr incimic

Awcnmwhiied leave, which is expected h» be uiilL^cd vi mini tin- ncxi 12 mnnihs, is iivjicU js »bui(-tBmi cmphivce bctwlll. flic I’ompany tn&iauica the expected coil of such absences j>
ihc additional amount that 11 expect* to pay us a rovufi of lhvuntiw?il cfililkitieiil that lias accunminted at the reporting dale TheOrmpany ivcugrizvs expected cuvl ul''sliutt-leim
cnipluyce benefit as un ctpeine, when au employee renders- the lolaced KTvice,

I lie Company tre.d> .tceuinublcd lease expected to be carried forward hcyimd twelve nwinilr- ai loniMenu employee benefit fi»r mcasuicmeiu purpose!*, Such Inng-IOTOI compensalH
absences are prm''idcd for iuiwd on the .icliiariiil saluaimti Untie Ihc projected Unit credit method nt the reporting dote Acfuanal gains-Iukscs are immediately In Iren m die statement ot
profit and Ins.s and nrv nut dulertcd.

l. Slinrc-liuved pnymcnlk

l ltljllupc* Iilieltulltlg Setilut exCeutivcst uf the Company receive rcuitineration m live hmo of shure-based poyincmv, whereby employees raudet service^ as consfdvfTIIto 11 foe vipidv
I nil ruincnN | ev|ulty-sellled Ininsactimisl

C''eftUiti employees ol (lie 1 ompany arc entitled In shales of AceVcelot [tinned I Formerly known as Snapdeal Lhuiicd). ilur holding company, upon llu? axcuivi; ofsioil. option* which
me granted under the smek incentive plan I lie emu iclatcd in stich grariln is raised a> a cbulge by ..WeVctluf Linulcil (Filfmctrly knov\ n as Srupldl Lmiiiedi on the CotnpEfny. w hile die
corresponding credit is recorded as coitfribulj-un to equity from parent. The Holding ( ompany will be responsible h»r scnclmeiii ami die Company do not have any responsibility for
•folllenvnt cil hmployec Slock 1 Ipirnn Schcrw 21119 (risen h) Holding Company Iherefoie. llic IrSOPs lias hern cbvytfiqd six an equity settled slunc-ha sol pjyincni The gram dale lau
v.iliu* uf f SiVP% rdwled 10 vmptnywv »»1 the < ompany are recognised iiv empIoyec’> evpcnw-., over vesting period while the eoneipondmg credit » ircnrdcd a-, contribution to equity
from parent.

Equity Sell led Tran sail tons

The emt ofyqtMty-seuk''il intnscKliatu is determined I35 (lie fait value nt the date when tile pram is made using an appropriiltc s aluaiion model.

I lint cun is recognised, together with a vnneagumlmg imieaM* in *h,ne-buscd puymrni (SHl''i texmiai in uquiiy, overtisv period in which live performance and/or service amJdurns are
fulfilled in employee benefit* expense The cumulative expenw.’ leeuyiiiH’d |nr equity-settled tranwieiiims ;«i each rvp»rting dale until die vesting dale reflect* rhe eveem 10 which the
Vesting pcnud has cxpiictl uml the C’niiqwriy’s best evtuiudc of ihc number of equity inslntmum* dim ivdl uliimwely vest, fhe statement of profit ami loss expense or ennlil for it ivriod
rcpwsenw the iruvvt''iiH''ni in euittubtivc expense recogubal a% at the beu Inn mis. und end of that pernkd and k recognuced 10 empliiyee benefits expense

Service and mm-inujikcl p«*iIortiuinec amdlklons aic not taken into uccounl when determining the grunt date fair value ol uwaids, bill die liliefihood ol die eoniliiinnv hemg iih*i is
asscM-ed js pan ini tJic (''oiiipanv best ChtinUMC til the ttiindta ol equity liiittuiuents Ilia! will Ultiitkabdy *eit Mafiuct performance eoridllions aie rellcctcd within die grant date fair value.
Any other conditions altaclied to att awanl liul vvithmil an Uvmcialcil xcrvwe requircfikcitL -ue considered to be nou xeslmg cumlitioiLs k''oii-tcslmg condition* are rcllceicd in the tail
^ alkie of an aw.ud ami lead to an immediate s-xpensiity of .in award unless ilwre ate ols« service and nt pctfotuiaitee c audition v

No L''xpen.ss is recognised Uir imatih 1 hut do not ulrmuitely vest ke.iiiw nou-nvariet pcrlorrmnec and or service mndition''i hnsc n*»t been md Where awards induce a uunkei m non-
^l«Ming cnmlilion. llic lumamnnv are unit''d as vcMed iniNpcrfivc uf whctlfor ihc iti.nU''1 or non sedtifo eoitalitiiin is ialhftcih provtdol tluu all other performance and or scmcc
C«indnioiin ate •.iiistled

^ hen the tellies ol 1111 eqimv set lied award are mmlifiei.1. the minimum cxpt''nw tv cognised i> the expense lud (tie lemw had mil been dtmlilktl. tfllic ottymal forms id the award urr inch
\n additional expense i,x recognised fi»r any iiH»dtfiwation dint inwtcuiH^ the tulsii bur value oftlte ibnm-hasvil payment irntvsicimn.-or is «nlnrrwi*c bvncficml in flu- emplovec- as nwahuied
ji the date ol modification Where jn award is cancelled by the entity ut by the counterparty, any reqiaining element of the lair vjhie ol the flwatii isi expensed imnurUiaieK through profit
ur lui«>

I be dlllitivr cllciM ol oUI-»l»iildine oplmtls 11 rellecfotl a% ailditiiiihal shill e dilution in tile computation ol diluted c.imuigv per share

^v tinuncial inMinim-rtl i- U1ty iwtlrde! lint) gives rise In a financial used nl rate enlll) and a liminctnl liability or equity instrument nf (mother entity
Financial .nidi

liriliul revngnMnil and mm.u/rrjirenr

FifllMieiol resets ntc classified. ur inili.il recognition, as subsequent h measured at smturlised cud, lair value llintu^lt other comprehensive itu-nmc ffk''lj, ami lair value through profit nr
liWi. The elassirvain.il uf financial asset.* al tniii.il recogntliun depends ufl the financial duel** cunlrjctual coah lints eharaclcrialics and the Companies business mndel fur managing
llii''tn With the exception oftrade tcceivablc. that do nut cunlinii a significant financing cmnpuncnl ot fur which the C ompany has applied the pmcntal expedient- ''he t ''nmpaity initially
measures .1 financial asset at ns tan value plus, in the ease of A financial asset not al fan value through profit or less, traiweetlun costs Trade receivables tliai do uo| eontuln ,1 signtfirani
financing conipnncni m I''m which the Company lias applied the practical expedient ate measured at the iriinsucltun price ddmimicd under Ind AS US. Kclcr hi the acurunllne policies
in section (ei Kcvemie tcetignifinii

In Oldei fin U finuncial asset In he classified and incusutml at limuriised cast or fait value I Ilf High OC3, II neetls til give rise tu Cash linns Ural ure ''solely payment* in principal aud
interest | SRHI1¹ on tile principal amount out standing. I In-. us»essmcnt is re fared to as the SHIM ten and n perlntmcd al an iMtnmwni level. Fiflundal assets with cosh Items that ure not
SIMM ate cluv.iticd and measured at tan value through profit or hrss, ItTvapKClWC of the business llttltkl Financial assets classified and measured JI nmuhiscd cost ure lictd niifim a
business iiunlel with the ohiictive In hold litlancial assets m onlct In cnllcer cnptrueimd tuslt fluwt while financial assets classified and titan. 11 ml .it fnir value Ihtmigli ttl i me bald
w tlhitt a business mode I wuh the objective nl hath holding In edited cotttntrhial cash flown and selling.

The Companies business mndel tin managing financial assets refers In hunt it manages us financial assets in order in generate cash flows The business model dcivumties whether cash
flows will result Irani collecting amnacntul each flows <-fHirvg! the financial assets, nr built

I’uicTrtucs or sales n| financial asscl* th.ll regime lie liven nl uvseLs vvitltiiv a little ItJmc established hv regulation nr sinurmron in the umiltel place I regular way tradesj are rccmmiried on
the trade dale. i.c.. die dale i1i.it the Company cunmiils, to purchase 01 cell die asnei

Xuh leigunuamruaurni

Fur purposes ofsahsequent measurement. flmuieial jsseis ate clnsutillcil in Inut . JlegnlK''s
-Financial assets at itirlmtised cost (debt insirunieutsl

- h man rial assets m f.itr value I [trough sillier comprehensive inctime 11-\ 11 Vt''ti with ILCS cling ul c urnol.no c n:i irr- .mil los-es iiteln r¹-lrlimsMlT1
Fi nun era I .rise is rJcMgnaleil al fair value I III 11 ugh 131 1 unit no recycling uf cuitiuljlivc gains ami hoses upon derecognition icquiiv instruments!

- Finuncial assets m loir value through [imfil or loss

Fiuauciril assets at aninriived cun [tlelii imiriuucnivl

A tinnncul asset is incusuted in the amnrtised cast il''.hoth tile following cnudiliiriW are met:

.11 I he «m«r is held will I an 11 business model vvlmse nbyeciivc is in hold assets for cultccling cohlraeiuul cash ilows. and

b| C oiitracimil nrrms ill The asset give rice tin specified dates 10 cash Hows 1h.1t arc solely payments ofpnneipal and interest iSPIMj on ihc principal amount outstanding

Alter initial mcautirmenl. such financial assets are s ah sequent l> itieutmied at unionised eo.i using the efTcetivr interesl rale tl''lKI inclin''d .Vnunttsed etist is eakat luted bv taking min
account any discount or premium rot avquisilinn and ices or costs that arc an integral pari nl Hie Flit. The I IK amornsan.m is included 111 finance income in the profit m loss The losses
arising Inna impairment ate leengmsed in die profit or loss I he C rUJip.inys financial OSS el. at amnrltsed cost me hides trade rccnvghlc* included under other current tinanciul nssels Ini
more infumralloll on receivable¹., reli’r In Note In.

Hminehri assets ul fair value Ihrniigh prcitil nr loss

I \ TIM i. a residual category lor debt insinintems Any debt instrument, w hich docs nor meet lltc cmena lor categorumi mil as al amnrtijsd trod or as FVTOCT. is classified us al FVTHI
I Munrtai assets ji tun value through pinlil at Ins. are»arried rn lltc lualaucc sliccl at lair value with nei change* irr linr value recognised m ilu* staiomenl iifprofll and hiss

In addition, die Company may elect in designate Jtdcbl msmimmi. which oHicrmw mcelv umiuti/ed cajl or ty Hill criteria, as at FVTPl. However, such dec lion is allowed onty il
doing an reduce* m clmiin.itca niCMUCUliieill or icuiguiumi unmiMslciiv y (ttbrM in .1. nciniinlmg iittsmaieh r flic t ''nnip.niv ha. .¦ .1 d.¦.!¦.''n.ncd .my ilehl msliuinenl us ul PVI I''l
Ifehl instruments me I ruled within the FVTPl cnlegnry are measured at lair value wi1h all changes 1.-cognised in the HAl Kquity in.innra-nli included within the IVI HI culcgtny ate
IMeaMired al 1im value Willi all changes leeognlacd in the TAT

(terccugnitiim

A financial Itsycl lor. vvlvcte appllcahle. a part nl u financial asset m pari Ufa rnmp.uu ol suntliit financial asscisl IS pthici n ly ds-i ecogniM.il lie teinoved Imm the t ompauv''s hulunee
cltcei 1 when:

- The rights in retuisg casll fitrws from lltcasacl Ituve csptrcsl, or

I lie 1 11 nip any has Iran,slurred its ugliis to receive «l.»h flow, fiiuti live ussel nl lias a*.lulled 11U nlrliualinn to pay the leeeived L''lrsl 1 flow • in lull wttllulU imilcrial delay In ,1 thud panv
under 0 ‘pasMhrnuglr airangemvm; and cither 1.11 ihs- C''mupany lias transferred nibstamially all lltc risks and icvsaidii ol’llie asset, ui |b| the Company has ncrltlcr Inttivlcrred 1101
telamcd suhslanliully all the risks and rewards of live assei. but lias li.mslcrred cuiiirnl ol Hie asset

X\ hen live t ompatty it is Iransfcncd ilitighlt In receive cash flow* Itnm ait assei nr ha* entered lulu a pas.-ihtmigli anangemem. n evrduam il and In wltai cvlcnl it lias reioincd the risks
uud rewards s>l immcrsliip yvhenil lias neither Ininslcnrd inn retained suhsinnmdly all ol die risks and rewards nl ihc nssci. nnr Iranslerretl cimtn.1 nl the asset. Hie Company e.miiiincs
in recognise lltc Ifunslitrred UaScl to lltc cstent nl the I''nmpany s emiHmiliiu iiivoIvciik-iiI In tlta! case, die l‘ont|uny also rccngnises an nssociulrd liability. The iTansfciryd assei and Hu
JSsnefalcd liability lire measured .irj a hjsi. Ijul icflucls the rights aild l.bhgaiiult* dull tile Company hits relumeJ

t nmiiitiing imnlicni.nl dial lake, the form ul a giliinmtcc itvet Ihc tmuslerrcd a.sei is ttveasured al lltc lowei wf the original carrying ainmiiir n| die acsei and die masilllllTI! niUnunt ot
considerJlion tliai the Company could lie required 111 repay.

I unhor dittluMjic* rvluHPg i*> Jmfi.ilimcnl ut liniincml anStft* .tu* also (itovklnl >n Hit Inllrming note*.

? [)i''.cln*urc» lor sii*Liificjiii sec 11

? riddcTtcciViihloi and cmilrjcl assets see f^oie III

The Cl imp,my recognises an allowance for eupceied credit lossenECUj lor all debt instruments Itnl held .d loir value through profit or loss, IT''I are h.ised on the difference between
the ceniraciual citsll Hows due in accordance with llte contract .mil ill file cash Flows ilia! the ITiinpdliy