Provisions, contingent liabilities and contingent assets

Provisions are recognised when the Company has a
present legal or constructive obligation as a result of past
events, it is probable that an outflow of resources will
be required to settle the obligation and the amount can
be reliably estimated. Provisions are not recognised for
future operating losses, except on long term contracts, if
applicable. Provisions are reviewed at each reporting date
and are adjusted to reflect the current best estimate.

Contingent liabilities are disclosed in respect of possible
obligations that arise from past events, whose existence
would be confirmed by the occurrence or non-occurrence
of one or more uncertain future events not wholly within
the control of the Company.

Contingent assets are not recognised in the financial
statements. However, it is disclosed only when an inflow
of economic benefits is probable.

(xv) Earnings per share

Basic earnings per share are calculated by dividing the net
profit or loss (excluding OCI) for the period attributable to
equity shareholders by the weighted average number of
equity shares outstanding during the period. The weighted
average number of equity shares outstanding during the
period is adjusted for events such as bonus issue, bonus
element in a right issue, share split and reserve share splits
(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 (excluding
OCI) 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.

(xvi) Dividends

Provision is made for the amount of any dividend
declared, being appropriately authorised and no longer
at the discretion of the entity, on or before the end of
the reporting period but not distributed at the end of the
reporting period.

(xvii) Segment reporting

Operating segments are reported in a manner consistent
with the internal reporting, nature of the products /
process, organisation structure as well as differential risks
and returns, provided to the board of directors and chief
operating officer, all of them constitute as chief operating
decision maker ('CODM').

(xviii) Share based payment

An employee of the Company is entitled to remuneration
in the form of equity settled instruments, for rendering
services over a defined vesting period. Equity instruments
granted are measured by reference to the fair value
of the instrument at the date of grant. The fair value
determined at the grant date is expensed over the vesting
period of the respective tranches of such grants. The
stock compensation expense is determined based on
the Company's estimate of equity instruments that will
eventually vest using fair value in accordance with Ind AS
102, Share based payment.

(xix) Exceptional items

When items of income and expense within profit or
loss from ordinary activities are of such size, nature or
incidence that their disclosure is relevant to explain
the performance of the enterprise for the period, the
nature and amount of such material items are disclosed
separately as exceptional items.

(xx) Recent pronouncements

(i) Amendment to Ind AS 1, Presentation of financial
statements

The Ministry of Corporate Affairs ("MCA") vide
notification dated 31 March 2023, has issued
an amendment to Ind AS 1 in accordance with
amendments made in Companies (Indian Accounting
Standards) Amendment Rules, 2023 which specifies
that an entity should disclose material rather than
significant accounting policies..

(ii) Amendment to Ind AS 8, Accounting policies, changes
in accounting estimates and errors

The Ministry of Corporate Affairs ("MCA") vide
notification dated 31 March 2023, has issued
an amendment to Ind AS 8 in accordance with
amendments made in Companies (Indian Accounting
Standards) Amendment Rules, 2023 which specifies
distinguishment between changes in accounting
policies and changes in accounting estimates.

(iii) Amendment to Ind AS 12, Income Taxes

The Ministry of Corporate Affairs ("MCA") vide
notification dated 31 March 2023, has issued an
amendment to Ind AS 12 in accordance with
amendments made in Companies (Indian Accounting
Standards) Amendment Rules, 2023 which specifies
entities to recognize deferred tax on transactions that
on initial recognition, give rise to equal amounts of
taxable and deductible temporary differences.

(xxi) This standalone financial statement has been prepared in
accordance with amended Schedule III to the Companies
Act 2013.