A provision is recognized if, as a result of a past event, the Company has a present obligation that can be estimated reliably, and it is' probable
that an outflow of economic benefits will be required' to settle the obligation. Provisions are recognized at the best estimate of the expenditure
required to settle the present obligation at the balance sheet date. The provisions are measured on an undiscounted basis.

2.9 Inventories

Traded goods are valued at lower of cost and net realizable value. Cost includes cost of purchase and other costs incurred in bringing
the inventories to their present location and condition. Cost is determined on a weighted average basis. Net realizable 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.

2.10 Contingent liabilities and contingent assets

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may but probably will not, require
an outflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not warrant provisions, but
are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither recognized nor disclosed in the financial
statements. However, contingent assets are assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the
asset and related income are recognized in the period in which the change occurs.

2.11 Taxation

Income-tax expense comprises current tax (i.e. amount of tax for the period'. determined in accordance with the income tax law) and deferred
tax charge or credit .(reflecting the tax effects of timing differences between accounting income and taxable income for the period). The
deferred tax charge or credit and the corresponding deferred tax liabilities and assets are recognized using the tax rates that have been enacted
or substantively enacted by the balance sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that the
assets can be realized in future. However, where there is unabsorbed or carried forward losses under taxation laws, deferred tax assets are
recognized only if there is a virtual certainty of realization of such assets. Deferred tax assets are reviewed as at each balance sheet date and are
written down or written-up to reflect the amount that is reasonably I virtually certain (as the case may be) to be realized.

2.12 Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting'
preference dividends, if any, and attributable taxes) by the weighted average number of equity shares outstanding during the period, Partly paid
equity shares are treated as a fraction of an equity share to the extent that they are entitled to participate in dividends relative to a fully paid
equity share during the reporting period. The weighted average number of equity shares outstanding during the period is adjusted for events
suet-Las bonus issue, bonus element in a rights issue, buy back, share split, and reverse share split (consolidation of shares) that have changed
the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

2.13 Cash flow Statement

In the cash flow statement, cash and cash an equivalent includes cash in hand, demand deposits with banks, other short-term highly liquid
investments with original maturities of three months or less.