Provision and contingencies

A provision is recognized when an enterprise has a present
obligation (legal or constructive) as a result of past event and it
is probable that an outflow of resources will be required to settle
the obligation, in respect of which a reliable estimate can be
made of the amount of the obligation. If the effect of time value
of money is material, provision is 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.

Provisions for onerous contracts, i.e. contracts where the
expected unavoidable costs of meeting obligations under
a contract exceed the economic benefits expected to be
received, are recognized when it is probable that an outflow
of resources embodying economic benefits will be required
to settle a present obligation as a result of an obligating event,
based on a reliable estimate of such obligation.

A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence
or non-occurrence of one or more uncertain future events
beyond the control of the Company or a present obligation that
is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent
liability also arises in extremely rare cases where there is a liability
that cannot be recognized because it cannot be measured
reliably. The Company does not recognize a contingent liability
but discloses its existence in the standalone financial statements.

t. Cash dividend to the equity holders of the Company

The Company recognises a liability to make cash distributions
to equity holders of the Company when the distribution is
authorised, and the distribution is no longer at the discretion
of the Company. Final dividends on shares is recorded as a
liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by
the Company's Board of Directors

u. Earnings/ (loss) per share

Basic earnings/ (loss) per share is computed by dividing the
profit/ (loss) after tax attributable to the equity holders of the
Company by the weighted average number of equity shares
outstanding during the year. Diluted earnings per share is
computed by dividing the profit/ (loss) after tax as adjusted for
dividend, interest (net of any attributable taxes) other charges to
expense or income relating to the dilutive potential equity shares,
by the weighted average number of equity shares considered
for deriving basic earnings per share and the weighted average
number of equity shares which could have been issued on the
conversion of all dilutive potential equity shares. Potential equity
shares are deemed to be dilutive only if their conversion to equity
shares would decrease the net profit per share or increase the
net loss per share. Potential dilutive equity shares are deemed
to be converted as at the beginning of the period, unless they
have been issued at a later date. The dilutive potential equity
shares are adjusted for the proceeds receivable had the shares
been actually issued at fair value (i.e. average market value of
the outstanding shares). Dilutive potential equity shares are
determined independently for each period presented.

v. Segment reporting

Operating segments are reported in a manner consistent with
the internal reporting provided to the chief operating decision
maker.

The Company identifies primary segments based on the dominant
source, nature of risks and returns and the internal organization
and management structure. The operating segments are the
segments for which separate financial information is available
and for which operating profit/ loss amounts are evaluated
regularly by the Executive Management in deciding how to
allocate resources and in assessing performance. The analysis
of geographical segments is based on the areas in which major
operating divisions of the Company operate.

The accounting policies adopted for segment reporting are in
line with the accounting policies of the Company. Segment
revenue, segment expenses, segment assets and segment
liabilities have been identified to the segments on the basis of
their relationship to the operating activities of the segment.

Common allocable costs are allocated to each segment
according to the relative contribution of each segment to the
total common costs.

Revenue, expenses, assets and liabilities which relate to the
Company as a whole and are not allocable to segments on
a reasonable basis have been included under 'unallocated
revenue/ expenses/ assets/ liabilities'

w. Recent accounting pronouncements:

Ministry of Corporate Affairs ("MCA") notifies new standard or
amendments to the existing standards under Companies (
Indian Accounting Standard) Rules as issued from time to time.

On Mar h 31, 2023 MCA amendment the Companies (Indian
Accounting Standards) Amendment Rules, 2023, as below

Ind AS 1 - Presentation of Financial Statements - This
amendment requires the entities to disclose their material
accounting polices rather than their significant accounting
policies. The effective date for adoption of this amendment
is annual periods beginning on or after April 1, 2023. The
Company has evaluated the amendment and the impact of
the amendment is insignificant in the standalone financial
statements.

Ind AS 8 - Accounting Policies, Changes in Accounting
Estimates and Errors - This amendment has introduced a
definition of 'accounting estimates' and included amendments
to Ind AS 8 to help entities distinguish changes in accounting
policies from changes in accounting estimates. The effective
date for adoption of this amendment is annual periods beginning
on or after April 1, 2023. The Company has evaluated the
amendment and there is no impact on its standalone financial
statements.

Ind AS 12 - Income Taxes - This amendment has narrowed
the scope of the initial recognition exemption so that it does
not apply to transactions that give rise to equal and offsetting
temporary differences. The effective date for adoption of this
amendment is annual periods beginning on or after April 1,
2023. The Company has evaluated the amendment and there is
no impact on its standalone financial statements.