1. New Ind AS 116: ‘Leases’:

The new Ind AS 116: 'Leases' has been introduced in suppression of the earlier Ind AS 17. In the said new Ind AS, the provisions with regard to 'Lessor' are similar to that of earlier Ind AS. There are however certain changes in provisions with regard to 'Lessee'. The Company does not have any lease as on date, so the impact of the new Ind AS 116 shall not have any impact on its financial statements.

2. Amendment to Ind AS 109: ‘Financial Instruments’:

The amendment pertains to classification of financial instruments with feature of prepayment with negative compensation, which permits the holder or the borrower to make the prepayment and at the same time permits the lender or the issuer to put the instrument for repayment before the holder or borrower for making its payment before its maturity at an amount less than unpaid amount of principal and interest. Such instruments can be measured at amortized cost or at fair value through the statement of profit and loss or other comprehensive income by lender or issuer.

The Company has evaluated the effect of the said amendment and found that since it is not dealing in such financial instruments, there will not be any impact of this amendment on its financial statements.

3. Amendment to Ind AS 19: ‘Employee Benefits’:

The amendment relates to measurement and disclosure of effects of plan amendment, curtailment and settlement. When an entity determines the past service cost at the time of plan amendment or curtailment, it shall re-measure the amount of net defined benefit liability/asset using the current value of plan assets and current actuarial assumptions which should reflect the benefits offered under the plan and plan assets before and after the plan amendment, curtailment and settlement.

The Company has evaluated the effect of the said amendment and found that there will not be any aterial impact of this amendment on its financial statements.

4. Amendment to Ind AS 28: ‘Investments in Associates and Joint Ventures’:

The said amendment clarifies that Ind AS 109 should be applied to the financial instruments, including long-term interests in associates and joint venture, that, in substance, form part of an entity's net investment in associate or joint venture, to which the equity method is not applied.

The Company has evaluated the effect of the said amendment and found that since the company already applies equity method for investments made in associates and joint ventures, this amendment shall not have any impact on its financial statements.

5. Amendment to Ind AS 12: ‘Income Taxes’:

The first amendment relates to creation of a corresponding liability for payment of Dividend Distribution Tax (DDT) when it recognizes a liability to pay a dividend.

The Company has evaluated the effect of the said amendment and found that it is already creating corresponding liability for payment of DDT when it recognizes a liability to pay a dividend. So, there is no any impact on its financial statements further, due to this amendment.

The second amendment relates to recognition of tax consequence of an item whose tax treatment is uncertain. Tax treatment of an item is considered as uncertain when there is uncertainty whether the relevant taxation authority will accept the tax treatment of that item or not.

The Company has evaluated the effect of the said amendment and found that it is already recognizing tax liability in all such cases where it considers that the tax treatment is uncertain. So there shall not be any additional impact on its financial statements due to the said amendment.

6 Previous year figures have been regrouped/restated wherever considered necessary.

7 Approval of financial statements

The Financial statements for the year ended 31st March 2019 were approved by the Board of Directors and authorized for issue on 29th May 2019.