o. Provisions, Contingent Liabilities and Contingent Assets

Prov isions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions arc
discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage of time is recognized as a finance cost. Wlien the unavoidable costs of
meeting obligations under a contract exceed the economic benefits expected to be received under such contract (onerous
contract), the present obligation under the contract is recognized and measured as a provision.

Contingent liability is disclosed in the notes to accounts when in case of a present obligation arising from past events, it is not
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate of the same is not possible.

Contingent assets are disclosed in tire notes to accounts when an inflow of economic benefits is probable.

p. Impairment of Assets_

Financial Assets

In accordance with Ind AS 109. the Company applies the Expected Credit Loss (ECL) model for measurement and recognition
of impairment loss on financial assets and credit risk exposures. The Company follows 'simplified approach' for recognition of
impairment loss allowance on trade receivables. Simplified approach does not require the Company to track changes in credit
risk. Rather, it recognizes impairment loss allowance based on lifetime ECL at each reporting date, right from its initial
recognition. For recognition of impairment loss on other financial assets and risk exposure, the Company determines whether
there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly. 12-
month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If
in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit
risk since initial recognition, then the entity reverts to recognizing impairment loss allowance based on 12-month ECL.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the entity expects to receive (i.e. all cash shortfalls), discounted at the original EIR. Lifetime ECL are the
expected credit losses resulting from all possible default events over the expected life of a financial instrument The 12-month
ECL is a portion of the lifetime ECL which results from default events that are possible within 12 montlis after the reporting
date. ECL impairment loss allowance (or reversal) during the period if any. is recognized as cxpcnsc/incomc in the Statement
of Profit and Loss.

Non-Financial Assets Property, Plant and Equipment and Investment Property_

As at each Balance Sheet date, the Company assesses whether there is an indication tlrat a non-fmancial asset may be impaired
based on external and internal factors and also whether there is an indication of reversal of impairment loss recognized in the
previous periods. If any indication exists or when annual impairment testing for an asset is required, the Company determines
the recoverable amount and impairment loss is recognized when the earning amount of an asset exceeds its recoverable
amount.

Recoverable amount is determined, at the higher of tire assets' fair value less cost to sell and value in use: and
- In case of cash generating unit if any. (a group of assets that generates identified, independent cash flows), at the higher of
cash generating unit's fair value less cost to sell and value in use.

In assessing value in use. tlie estimated future cash flow s are discounted to their present value using pre-tax discount rate that
reflects current market assessments of the time value of money and risk specified to the asset. In determining fair value less
cost to sell, recent market transaction are taken into account. If no such transactions can be identified, an appropriate valuation
model is used.

Impairment losses of continuing operations are recognized in the Statement of Profit and Loss, except for properties previously
revalued w ith the revaluation taken to OCI if any. For such properties, the impairment is recognized in OCI up to the amount
of any previous revaluation.

When tire Company considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off.
If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after
the impairment was recognized, then the previously recognized impairment loss is reversed through the Statement of Profit
and Loss.

q. Earnings per Share_

Basic earnings per equity' share is calculated by dividing the net profit or loss after tax (before considering other
comprehensive income) for the year attributable to equity shareholders of the Company by the weighted average number of
equity sliares outstanding during the year. Diluted earnings per equity share, if any. is computed by dividing the net profit or
loss for the year as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential
equity shares, by the weighted average number of equity shares and dilutive potential equity share outstanding dining the
period except when the results would be anti-dilutive.

r. Statement of Cash Flow s

Cash flow s are reported using the indirect method in accordance with Ind AS 7 'Statement of Cash Flow s', w hereby profit after
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 flow s. The cash flows are
segregated into operating, investing and financing activities.

s. Cash and Cash Equivalents_

Cash and cash equivalents comprise cash in hand and at bank and tenn deposits maturing within 3 months from the date of
deposit. Tenn deposits maturing beyond 3 months, earmarked balances with banks and deposits held as margin money or
security against borrowings etc. liave not been considered as Cash and cash equivalents.

t. Other Matters_

Recent Accounting Pronouncements - Application of new and revised Ind ASs_

All the Indian Accounting Standards ("Ind AS") issued and notified by the Ministry of Corporate Affairs are effective and
considered for the significant accounting policies to the extent relevant and applicable for the Company.Ministry of Corporate
Affairs ("MCA") notifies new standard or amendments to the existing standards. No such notifications issued during the year.

Rcclassification/Rcgrouping/Rcworking of Previous Year's Figures

Under Ind AS the Company is required to prepare the financial statements as per Division in of Schedule III to Companies
Act 2013. Previous year's figures have been reworked, regrouped and reclassified wherever necessary.