Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized if, as a result of a past event, the company has a present legal or constructive obligation that is
reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation.
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. Provisions are determined based on the best
estimate required to settle the obligation at the balance sheet date.

A contingent liability is disclosed unless the possibility of an outflow of resources embodying economics benefits is
remote. Contingent assets are not recognised in standalone financial statements since this may result in the recognition
of income that may never be realised. However, when the realisation of income is virtually certain, then the related asset
is not a contingent asset and its recognition is appropriate.

A contingent asset is not recognized in the financial statements but is disclosed, where an inflow of economic benefits is
probable.

2.13 Foreign Currency Transactions:

Functional currency

The functional currency of the company is Indian Rupees ('INR'/'?'/'Rs'). These standalone financial statements are
presented in Indian Rupees and the all values are rounded to the nearest Lakh, except otherwise indicated.

Transactions and translations

Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at
exchange rates in effect at the balance sheet date. Gains and losses, if any, at the year-end in respect of monetary
assets and monetary liabilities not covered by the forward contracts are transferred to Profit & Loss Account except for
Long Term Foreign Currency Monetary Items. Transaction gains or losses realized upon settlement of foreign currency
transactions are included in determining net profit for the period in which the transaction is settled.

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.

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.

2.14 Borrowing Cost:

Borrowing costs that are attributable to acquisition and construction of qualifying assets are capitalized till the asset is
ready for its intended use, based on borrowings incurred specifically for financing the asset or the weighted average
rate of all other borrowings, if no specific borrowings have been incurred for the asset. A qualifying asset is one that
necessarily takes substantial period of time to get ready for its intended use. The Company has not capitalized any
borrowing costs during the year.

All other borrowing costs are recognized as expenditure in the year in which they are incurred.

2.15 Earnings per Equity Share:

Basic earnings per share

Basic earnings per share are calculated by dividing:

- the profit attributable to owners of the Company

- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements
in equity shares issued during the year and excluding treasury shares.

Diluted earnings per share

Diluted earnings per share adjust the figures used in the determination of basic earnings per share to take into account:

- the after income tax effect of interest and other financing costs associated with dilutive potential equity shares, and

- the weighted average number of additional equity shares that would have been outstanding assuming the conversion
of all dilutive potential equity shares.

The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued
at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed
converted as at the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined
independently for each period presented.

The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented
for any share splits and bonus shares issues including for changes effected.

2.16 Employee Benefit:

All employee benefits payable wholly within twelve months rendering services are classified as short term employee
benefits. Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the
expected cost of bonus, ex-gratia are recognised during the period in which the employee renders related service.

Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered
the service entitling them to the contribution.

The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method with
actuarial valuations being carried out at each balance sheet date, which recognises each period of service as giving rise
to additional unit of employee benefit entitlement and measure each unit separately to build up the final obligation.

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in
net interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest
on the net defined benefit liability), are recognised immediately in the balance sheet with a corresponding debit or credit
to retained earnings through other comprehensive income in the period in which they occur. Remeasurements are not
reclassified to the statement of profit and loss in subsequent periods.

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset.

The Company recognises the following changes in the net defined benefit obligation under employee benefit expenses in
the statement of profit and loss.

• Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements,

• Net interest expense or income.

Long-term employee benefits

Compensated absences which are not expected to occur within twelve months after the end of the period in which the
employee renders the related services are recognised as a liability at the present value of the defined benefit obligation
at the balance sheet date.

Termination benefits

Termination benefits are recognised as an expense in the period in which they are incurred.

Employee Stock Option Scheme (ESOS)

The Company recognizes compensation expense relating to share-based payments in net profit based on estimated fair
values of the stock options on the grant date. The estimated fair value of stock options is recognized as an expense in the
Statement of Profit and Loss on a straight-line basis over the requisite service period for each separately vesting portion
of the stock options as if the stock option was in substance multiple stock options with a corresponding increase to share
options outstanding account.

In case, the fair value of the stock options granted at the grant date cannot be estimated reliably, the options are measured
at their intrinsic value, initially at the date the entity obtains the service and subsequently at the end of each reporting
period and at the date of final settlement, with any change in intrinsic value recognised in profit or loss. For a grant of
share options, the share-based payment arrangement is finally settled when the options are exercised, are forfeited
(upon cessation of employment) or lapse (at the end of the option's life).

2.17 Cash Flow Statement:

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

2.18 Cash and Cash Equivalents:

Cash and cash equivalents comprise cash on hand and demand deposits with banks which are short-term, highly liquid
investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes
in value.

2.19 Lease:

Operating lease

The company has applied Ind AS 116 using the modified retrospective approach and therefore the comparative
information has not been restated. The adoption of Ind AS 116 as on April 1, 2019 did not require any adjustments to the
assets and liabilities as on that date.

As a lessee

The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset
is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments
made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle
and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease
incentives received. Certain lease arrangements include the option to extend or terminate the lease before the end of
the lease term. The right-of-use assets and lease liabilities include these options when it is reasonably certain that the
option will be exercised.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the
end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of
property, plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and
adjusted for certain re-measurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement
date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Company's
incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate.

Lease payments included in the measurement of the lease liability comprises of fixed payments, including in-substance

fixed payments, amounts expected to be payable under a residual value guarantee and the exercise price under a
purchase option that the Company is reasonably certain to exercise, lease payments in an optional renewal period if the
Company is reasonably certain to exercise an extension option.

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is
a change in future lease payments arising from a change in an index or rate, if there is a change in the Company's
estimate of the amount expected to be payable under a residual value guarantee, or if Company changes its assessment
of whether it will exercise a purchase, extension or termination option.

When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the
right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

Short-term leases and leases of low-value assets

The Company has elected not to recognise right of use assets and lease liabilities for short term leases that have a
lease term of less than or equal to 12 months with no purchase option and assets with low value leases. The Company
recognises the lease payments associated with these leases as an expense in statement of profit and loss over the lease
term.The related cash flows are classified as operating activities.

As a lessor

Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over
the lease term unless the receipts are structured to increase in line with expected general inflation to compensate for
the expected inflationary cost increases. The respective leased assets are included in the balance sheet based on their
nature.

2.20 Exceptional Items:

Certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of
the Company is such that its disclosure improves the understanding of the performance of the Company, such income
or expense is classified as an exceptional item and accordingly, disclosed in the notes accompanying to the standalone
financial statements.

2.21 Current and Non-Current Classification:

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

An asset is current when it is:

• Expected to be realised or intended to 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.

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

All other liabilities are classified as non-current.