2.13 Provisions, contingent liabilities and contingent assets

A provision is recognized when there is a present obligation as a result of a past event
and 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
obligation. A contingent liability is recognized for:

i. a present obligation that arises from past events but is not recognized as a
provision because either the possibility that an outflow of resources
embodying economic benefits will be required to settle the obligation is
remote or a reliable estimate of the amount of the obligation cannot be made;
and

ii. a possible obligation that arises from past events and the existence of which
will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the company.
Contingent assets are neither accounted for nor disclosed in the financial
statements. 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.

2.14 Earnings per share

Basic earnings per share are calculated by dividing the net profit for the year
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the year. For the purpose of calculating diluted earnings per share,
the net profit for the year attributable to equity shareholders and the weighted average
number of shares outstanding during the year are adjusted for the effects of all dilutive
potential equity shares.

2.15 Cash and cash equivalents

Cash and cash equivalents comprises cash at bank and in hand

2.16 Disclosure as required by Indian Accounting Standard (Ind AS ’101) first time
adoption of Indian Accounting Standards

These are Company's first financial statements prepared in accordance with Ind AS.
The accounting policies set out in Note 2 have been applied in preparing the financial
statements for the year ended March 31, 2024, the comparative information presented
in these financial statements for the year ended March 31, 2023 and in the preparation
of an opening Ind AS balance sheet as at April 1, 2022 the Company's date of
transition).

In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts
reported previously in financial statements prepared in accordance with accounting
standards notified under Companies (Accounting Standards) Rules, 2006 (as amended
and other relevant provisions of the Act (previous GMP or Indian GAAP). An
explanation of how the transition from previous GAAP to Ind AS has affected the
Company's financial position, financial performance and cash flows is set out in the
following tables and notes.

A. Exemptions and exceptions availed

1. Deemed cost

Ind AS 101 permits a first time adopter to elect to fair value of its property, plant and
equipment as recognized in financial statements as at the date of transition to Ind AS,
measured as per previous GAAP and use that as its deemed cost as at the date of
transition or apply principles of Ind AS retrospectively. Ind AS 101 also permits the
first time adopter to elect to continue with the carrying valued for all of its property,
plant and equipment as recognized in the financial statements as at the date of
transition to Ind AS. This exemption can be also used for intangible assets covered by
Ind AS 38. The Company has elected to consider fair value of its property, plant and
equipment as its deemed cost on the date of transition to Ind AS.

2. Ind AS mandatory exceptions

i) Estimates

An entity estimates in accordance with Ind AS at the date of transition to Ind AS
shall be consistent with estimates made for the same date in accordance with
previous GAAP (after adjustments to reflect any difference in accounting policies),
unless there is objective evidence that those estimates were in error. Ind AS
estimates at April 1, 2022 are consistent with the estimates as at the same date made
in conformity with previous GAAP.

ii) Derecognition of financial assets and financial liabilities Ind AS 101 requires a first
time adopter to apply the derecognition provisions of Ind AS 109 prospectively for
transactions occurring on or after the date of transition to Ind AS. Accordingly, the
Company has applied the derecognition requirement for financial assets and
financial liabilities in Ind AS 109 prospectively for transactions occurring on or after
date of transition to Ind AS.

iii) Derecognition of financial assets and financial liabilities Ind AS 101 requires an
entity to assess classification and measurement of financial assets on the basis of
facts and circumstances that exist on the date of transaction to Ind AS. Accordingly,
the Company has applied the above requirement prospectively.

iv) Derecognition of financial assets and financial liabilities Ind AS 101 requires an
entity to asses and determine the impairment allowance on financial assets as per Ind
AS 109 using the reasonable and supportable information that is available without
undue cost or effort to determine the credit risk at the date that financial instruments
which were initially recognized and compare that to the credit risk at the date of
transition to Ind AS. The Company has applied this exception prospectively