Provisions, Contingent liabilities, Contingent assets and Commitments:

Provisions are recognised 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. The expense relating to a provision
is presented in the statement of profit and loss.

If the effect of the time value of money is material, provisions are 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 recognised as a finance cost.

Contingent liability is disclosed in the case of:

• A present obligation arising from past events, when it is not probable that an outflow of resources will be
required to settle the obligation;

• A present obligation arising from past events, when no reliable estimate is possible;

• A present obligation arising from past events, unless the probability of outflow of resources is remote.
Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.
Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

t) Employee Benefits

Retirement benefit in the form of provident fund, pension fund and superannuation fund are defined contribution
schemes. The Company has no obligation, other than the contribution payable to such schemes. The Company
recognises contribution payable to such schemes as an expense, when an employee renders the related service. If
the contribution payable to the schemes for service received before the balance sheet date exceeds the contribution
already paid, the deficit payable to the schemes is recognised as a liability after deducting the contribution already
paid. If the contribution already paid exceeds the contribution due for services received before the balance sheet
date, then excess is recognised as an asset to the extent that the pre-payment will lead to, for example, a reduction
in future payment or a cash refund.

The Company operates a defined benefit gratuity plan, which requires contributions to be made to a separately
administered fund. The cost of providing benefits under the defined benefit plan is determined using the projected
unit credit method. Liability for gratuity as at the year-end is provided on the basis of actuarial valuation.

Remeasurements, comprising of actuarial gains and losses 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 OCI in the period in which they occur. Remeasurements
are not reclassified to profit or 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 as an expense in the statement of profit and
loss:

• Service costs comprising current service costs; and

• Net interest expense or income

Accumulated leave, which is expected to be utilised within the next 12 months, is treated as short-term employee
benefit. The Company measures the expected cost of such absences as the additional amount that it expects to pay
as a result of the unused entitlement that has accumulated at the reporting date.

u) Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

i. Financial assets

Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value
through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

• Financial assets at amortised cost.

• Financial assets at fair value.

When assets are measured at fair value, gains and losses are either recognised entirely in the statement of profit
and loss (i.e. fair value through profit or loss), or recognised in other comprehensive income (i.e. fair value
through other comprehensive income).

A financial asset that meets the following two conditions is measured at amortised cost (net of any write down
for impairment) unless the asset is designated at fair value through profit and loss under fair value option.

• Business model test: The objective of the Company's business model is to hold the financial asset to collect
the contractual cash flows (rather than to sell the instrument prior to its contractual maturity to realize its fair
value changes).

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

A financial asset that meets the following two conditions is measured at fair value through other comprehensive
income unless the asset is designated at fair value through profit and loss under fair value option.

• Business model test: The financial asset is held within a business model whose objective is achieved by both
collected contractual cash flows and selling financial instruments.

• Cash flow characteristics test: The contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

Derecognition

When the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation
to pay the received cash flows in full without material delay to a third party under a 'pass-through' arrangement;
it evaluates if and to what extent it has retained the risks and rewards of ownership.

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets)
is primarily derecognised when:

• The rights to receive cash flows from the asset have expired, or

• Based on above evaluation, either (a) the Company has transferred substantially all the risks and rewards of
the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of
the asset, but has transferred control of the asset.

When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred
control of the asset, the Company continues to recognise the transferred asset to the extent of the Company's
continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset
and the associated liability are measured on a basis that reflects the rights and obligations that the Company has
retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of
the original carrying amount of the asset and the maximum amount of consideration that the Company could
be required to repay.

impairment of financial assets

In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss on the following financial assets and credit risk exposure:

a) Trade receivables that result from transactions those are within the scope of Ind AS 18

The application of simplified approach does not require the Company to track changes in credit risk. Rather,
it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial
recognition.

v) Impact of COVID-19 (Pandemic)

The Company has taken into account all the possible impacts of COVID-19 in preparation of these standalone
financial statements, including but not limited to its assessment of, liquidity and going concern assumption,
recoverable values of its financial and non-financial assets, impact on revenue recognition owing to changes in
cost budgets of fixed price contracts, impact on leases and impact on effectiveness of its hedges. The Company
has carried out this assessment based on available internal and external sources of information upto the date of
approval of these standalone financial statements and believes that the impact of COVID-19 is not material to these
standalone financial statements and expects to recover the carrying amount of its assets. The impact of COVID-19
on the standalone financial statements may differ from that estimated as at the date of approval of these standalone
financial statements owing to the nature and duration of COVID-19.