2.16 Provisions and contingencies

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 obliga¬
tion and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of
a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a
separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented
in the statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are determined by discounting the expected future
cash flows to net present value using an appropriate pre-tax discount rate that reflects current market assessments
of the time value of money and, where appropriate, the risks specific to the liability. Unwinding of the discount is
recognized in statement of profit and loss as a finance cost. Provisions are reviewed at each reporting date and are
adjusted to reflect the current best estimate.

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 recognised 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
recognised because it cannot be measured reliably. The Company does not recognize a contingent liability but
discloses its existence in the standalone financial statements.

In the normal course of business, contingent liabilities may arise from litigation and other claims against the Compa¬
ny. There are certain obligations which management has concluded, based on all available facts and circumstances,
are not probable of payment or are very difficult to quantify reliably, and such obligations are treated as Contingent
liabilities and disclosed in the notes but are not reflected as liabilities in the standalone financial statements.
Although there can be no assurance regarding the final outcome of the legal proceedings in which the Company
involved, it is not expected that such contingencies will have a material effect on its financial position or profitability.

Contingent assets are not recognised but disclosed in the standalone financial statements when an inflow of
economic benefits is probable.

2.17 Financial instruments

Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual
provisions of the

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attribut¬
able to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or
financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of
financial assets or financial liabilities at fair value through statement of profit and loss are recognised immediately in
statement of profit and loss.

Financial assets

All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular
way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame
established by regulation or convention in the marketplace.

All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value,
depending on the classification of the financial assets.

Classification of financial assets

Debt instruments that meet the following conditions are subsequently measured at amortised cost less impairment
loss (except for debt investments that are designated as at fair value through profit or loss on initial recognition):

the asset is held within a business model whose objective is to hold assets in order to collect contractual cash
flows; and

the contractual terms of the instrument give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

All other financial assets are subsequently measured at fair value.

Amortised cost and effective interest method

The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating
interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future
cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate,
transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where
appropriate, a shorter period, to the net carrying amount on

Income is recognised on an effective interest basis for debt instruments other than those financial assets classified as
at FVTPL Interest income is recognised in profit or loss and is included in the Statement of Profit and Loss.

Financial assets at fair value through profit or loss (FVTPL)

A financial asset may be designated as at FVTPL upon initial recognition if such designation eliminates or significant¬
ly reduces a measurement or recognition inconsistency that would arise from measuring assets or liabilities or recog¬
nising the gains and losses on them on different bases. The Company has not designated any debt instrument as at
FVTPL

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses
arising on re- measurement recognised in profit or loss. The net gain or loss recognised in profit or loss is included in
the ‘other gains and losses' line item.

Changes in the carrying amount of FVTOCI monetary financial assets relating to changes in foreign currency rates
are recognised in profit or loss. Other changes in the carrying amount of FVTOCI financial assets are recognised in
other comprehensive income and accumulated under the heading of investments revaluation reserve. When the
investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the
investments revaluation reserve is reclassified to profit or loss.

Changes in the carrying amount of FVTOCI monetary financial assets relating to changes in foreign currency rates
are recognised in profit or loss. Other changes in the carrying amount of FVTOCI financial assets are recognised in
other comprehensive income and accumulated under the heading of investments revaluation reserve. When the
investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the
investments revaluation reserve is reclassified to profit or loss.

Changes in the carrying amount of investments in equity instruments at FVTOCI relating to changes in foreign
currency rates are recognised in other comprehensive income.

Impairment of financial assets

The Company measures the loss allowance for a financial instrument at an amount equal to the lifetime expected
credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If the
credit risk on a financial instrument has not increased significantly since initial recognition, the Company measures
the loss allowance for that financial instrument at an amount equal to 12-month expected credit losses.

However, for trade receivables or contract assets that result in relation to revenue from contracts with customers, the
Company measures the loss allowance at an amount equal to lifetime expected credit losses.

When making the assessment of whether there has been a significant increase in credit risk since initial recognition,
the Company uses the change in the risk of a default occurring over the expected life of the financial instrument
instead of the change in the amount of expected credit losses. To make that assessment, the Company compares
the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring
on the financial instrument as at the date of initial recognition and considers reasonable and supportable informa¬
tion, that is available without undue cost or effort, that is indicative of significant increases in credit risk since initial
recognition.

Derecognition of financial assets

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or
when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another
party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues
to control the transferred asset, the Company recognises its retained interest in the asset and an associated liability
for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a
transferred financial asset, the Company continues to recognise the financial On derecognition of a financial asset in
its entirety, the difference between the asset's carrying amount and the sum of the consideration received and
receivable and the cumulative gain or loss that had been recognised in other comprehensive income and accumu¬
lated in equity is recognised in profit or loss if such gain or loss would have otherwise been recognized in profit or loss
on disposal of that financial asset.

On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to repur¬
chase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset
between the part it continues to recognise under continuing involvement, and the part it no longer recognises on
the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying
amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no
longer recognised and any cumulative gain or loss allocated to it that had been recognised in other comprehensive
income is recognised in profit or loss if such gain or loss would have otherwise been recognized in profit or loss on
disposal of that financial asset. A cumulative gain or loss that had been recognised in other comprehensive income
is allocated between the part that continues to be recognised and the part that is no longer recognised on the basis
of the relative fair values of those parts.

Financial liabilities and equity instruments Classification
as debt or equity

Debt and equity instruments issued by a Company are classified as either financial liabilities or as equity in accor¬
dance with the substance of the contractual arrangements and the definitions of a financial liability and an equity
instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of
its liabilities. Equity instruments issued by a Company entity are recognised at the proceeds received, net of direct
issue costs.

Repurchase of the Company's own equity instruments is recognised and deducted directly in equity. No gain or loss
is recognised in profit or loss on the purchase, sale, issue or cancellation of the Company's own equity instruments.

Financial liabilities

All financial liabilities are subsequently measured at amortised cost using the effective interest method or at FVTPL.
However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when
the continuing involvement approach applies, financial guarantee contracts issued by the Company, and commit¬
ments issued by the Company to provide a loan at below-market interest rate are measured in accordance with the
specific accounting policies set out below.

Financial liabilities are classified as at FVTPL when the financial liability is either held for trading or it is designated as
at FVTPL

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when the financial liability is either held for trading or it is designated as
at FVTPL

A financial liability is classified as held for trading if

• it has been incurred principally for the purpose of repurchasing it in the near term; or

• on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together
and has a recent actual pattern of short-term profit-taking; or

• it is a derivative that is not designated and effective as a hedging instrument.

A financial liability other than a financial liability held for trading may be designated as at FVTPL upon initial recogni¬
tion if

• such designation eliminates or significantly reduces a measurement or recognition inconsistency that would other¬
wise arise; or

• the financial liability forms part of a Company of financial assets or financial liabilities or both, which is managed and
its performance is evaluated on a fair value basis, in accordance with the Company's documented risk management
or investment strategy, and information about the Company is provided internally on that basis; or

• it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire
combined contract to be designated as at FVTPL in accordance with Ind AS 109.

Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in
statement of profit and loss. The net gain or loss recognised in statement of profit and loss incorporates any interest
paid on the financial liability and is included in the 'other gains and losses' line item.

However, for non held for trading financial liabilities that are designated as at FVTPL, the amount of change in the
fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognised in other
comprehensive income, unless the recognition of the effects of changes in the liability's credit risk in other compre¬
hensive income would create or enlarge an accounting mismatch in statement of profit and loss. The remaining
amount of change in the fair value of liability is recognised in statement of profit and loss. Changes in fair value attrib¬
utable to a financial liability's credit risk that are recognised in other comprehensive income are not subsequently
reclassified to statement of profit and loss.

Gains or losses on financial guarantee contracts and loan commitments issued by the Company that are designated
by the Company as at fair value through profit or loss are recognised in statement of profit and loss.

Financial liabilities subsequently measured at amortised cost

Financial liabilities that are not held for trading and are not designated as at FVTPL are measured at amortised cost
at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are subsequently
measured at amortised cost are determined based on the effective interest method. Interest expense that is not
capitalised as part of costs of an asset is included in the 'finance costs' line item.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating
interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated
future cash payments (including all fees and points paid or received that form an integral part of the effective interest
rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where
appropriate) a shorter period, to the net carrying amount on

Foreign exchange gains and losses

For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end of
each reporting period, the foreign exchange gains and losses are determined based on the amortised cost of the
instruments and are recognised in the 'other gains and losses' line item in the statement of profit and loss.

The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of the reporting period. For financial liabilities that are measured as at FVTPL
the foreign exchange component forms part of the fair value gains or losses and is recognised in the statement of
profit and loss.

Derecognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company's obligations are discharged,
cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the
consideration paid and payable is recognised in statement of profit and loss.

Derivative financial instruments

The Company uses derivative forward contracts to hedge its foreign currency risks. Such derivative financial instru¬
ments are initially recognised at fair value on the date on which derivative contract is entered into and are subse¬
quently re-measured at fair value at the end of each reporting period. Derivatives are carried as financial assets when
the fair value is positive and as financial liabilities when the fair value is negative. Any gains or losses arising from
changes in the fair value of derivatives are taken directly to profit or

2.18 Operating cycle

Based on the nature of the operations and the time between the acquisition of assets for processing and their
realization in cash or cash equivalents, the Company has ascertained its operating cycle as twelve months for the
purpose of current non-current classification of assets and liabilities.

2.19 Critical accounting judgements and key sources of estimation uncertainty

The preparation of these standalone financial statements in conformity with Ind AS requires management to make
judgements, estimates and assumptions that affect the application of accounting policies and the reported
amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities at the date of these
standalone financial statements and the reported amounts of revenues and expenses for the years presented. Actual
results may differ from these estimates under different assumptions and conditions.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised and future periods affected.

In particular, information about significant areas of estimation uncertainty and critical judgments in applying
accounting policies that have the most significant effect on the amounts recognized in the standalone financial
statements are included in the following

Critical estimates and judgements in applying accounting policies

The following are the critical judgements, apart from those estimations that the management has made in the
process pf applying the Company Accounting Policies and that have most significant effect on the amounts
recognised in the standalone financial statements.

Provisions and contingencies

The significant capital commitments in relation to various capital projects are not recognized in the balance sheet. In
the normal course of business, contingent liabilities may arise from litigation and other claims against the Company.
Guarantees are also provided in the normal course of business. There are certain obligations which management has
concluded, based on all available facts and circumstances, are not probable of payment or are very difficult to quanti¬
fy reliably, and such obligations are treated as contingent liabilities and disclosed in the notes but are not reflected as
liabilities in the standalone financial statements. Although there can be no assurance regarding the final outcome of
the legal proceedings in which the Company involved, it is not expected that such contingencies will have a material
effect on its financial position or profitability.

Fair value measurement of financial instruments

Some of the Company's assets and liabilities are measured at fair value for financial reporting purposes. The fair
values of financial assets and financial liabilities recorded in the balance sheet in respect of which quoted price in
active markets are available are measured using valuation techniques. The inputs to these models are taken from
observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing
fair values. Judgments include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in
assumptions about these factors could affect the reported fair value of financial

Impairment of assets

In assessing the property, plant and equipment and intangible assets for impairment, factors leading to significant
reduction in profits such as changes in commodity prices, the Company's business plans and changes in regulatory
environment are taken into consideration. The carrying value of the assets of a cash generating unit (CCU) is
compared with the recoverable amount of those assets, that is, the higher of fair value less costs of disposal and value
in use. Recoverable value is based on the management estimates of commodity prices, market demand and supply,
economic and regulatory climates, long-term plan, discount rates and other factors. Any subsequent changes to
cash flow due to changes in the above mentioned factors could impact the carrying value of the assets.

Useful life of property, plant and equipment and intangible assets

Property, plant and equipment and intangible assets as disclosed above are depreciated over their useful economic
lives. Management reviews the useful economic lives at least once a year and any changes could affect the deprecia¬
tion rates prospectively and hence the asset carrying values. The Company also reviews its property, plant and equip¬
ment, for possible impairment if there are events or changes in circumstances that indicate that carrying values of
the assets may not be recoverable. In assessing the property, plant and equipment for impairment, factors leading to
significant reduction in profits such as changes in commodity prices, the Company's business plans and changes in
regulatory environment are taken into consideration.

The carrying value of the assets of a cash generating unit (CGU) is compared with the recoverable amount of those
assets, that is, the higher of fair value less costs of disposal and value in use. Recoverable value is based on the
management estimates of commodity prices, market demand and supply, economic and regulatory climates,
long-term plan, discount rates and other factors. Any subsequent changes to cash flow due to changes in the above
mentioned factors could impact the carrying value of the assets.

Contingencies and commitments

In the normal course of business, contingent liabilities may arise from litigation, taxation and other claims against the
Company. A tax provision is recognised when the Company has a present obligation as a result of a past event, it is
probable that the Company will be required to settle that obligation.

Where it is management’s assessment that the outcome cannot be reliably quantified or is uncertain the claims are
disclosed as contingent liabilities unless the likelihood of an adverse outcome is remote. Such liabilities are disclosed
in the notes but are not provided for in the standalone financial statements.

When considering the classification of a legal or tax cases as probable, possible or remote there is judgement
involved. This pertains to the application of the legislation, which in certain cases is based upon management’s
interpretation of country specific tax.

2.20 Key sources of estimation uncertainty

(a) Fair value measurements and valuation processes

Some of the Company's assets and liabilities are measured at fair value for financial reporting purposes. The Board of
directors of the Company has designated the Chief Financial Officer of the Company determines the appropriate
valuation techniques and inputs for fair value measurements.

(b) Taxes

Uncertainties exist with respect to the interpretation of complex tax regulations, changes in tax laws, and the
amount and timing of future taxable income. Given the wide range of business relationships and the long-term
nature and complexity of existing contractual agreements, differences arising between the actual results and the
assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and
expense already recorded. The firm establishes provisions, based on reasonable estimates. The amount of such
provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax
regulations by the taxable entity and the responsible tax authority. Such differences of interpretation may arise on a
wide variety of issues depending on the conditions prevailing in the respective domicile of the companies.

(c) Impairment of Financial assets

The impairment provisions of financial assets are based on assumptions about risk of default and expected loss
rates, the firm uses judgment in making these assumptions and selecting the inputs to the impairment calcu¬
lation, based on firm's past history, existing market conditions as well as forward looking estimates at the end
of each reporting period.

(d) Impairment of non-Financial assets

The firm assesses at each reporting date whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the firm estimates the asset's
recoverable amount. An assets recoverable amount is the higher of an asset's CCU'S fair value less cost of
disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash
inflows that are largely independent of those from other assets or firm's of assets. Where the carrying amount
of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its
recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax
discount rate that reflects current market assessments of the time value of money and the risks specific to the
asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no
such transactions can be identified, an appropriate valuation model is used. These calculations are corroborat¬
ed by valuation multiples, or other fair value indicators.

2.21 Standards issued but not effective

There are no standards that are issued but not yet effective on March 31,2025.