j) Provisions, Contingent liabilities and Contingent Assets

Provisions are recognised when there is a present obligation as a result of past events, it is probable that an outflow of resources will be
required to settle the obligation and in respect of which reliable estimate can be made. Provisions are not discounted to its present value and
are determined based on the best estimate required to settle the obligation at each Balance Sheet date. These are reviewed at each Balance
Sheet date and adjusted to reflect the best current estimate.

A present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a
reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are also disclosed when there is a
possible obligation arising from past events, 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 not recognised in financial statements since this may result in the recognition of income that may never be realised.
However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and is recognised.

k) Foreign currency transactions and translations

Items included in the financial statements are measured using the currency of the primary economic environment in which the company
operates (the functional currency). The company's financial statements are presented in Indian rupee (INR), which is also the company's
presentation and financial currency. These financial statements are presented in Indian rupees.

Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect
at the balance sheet date. The gains or losses resulting from such translations are included in net profit in the statement of profit and loss. Non¬
monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange
rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign
currency and measured at historical cost are translated at the exchange rate prevalent at the date of the transaction.

Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period
in which the transaction is settled. Revenue, expense and cashflow items denominated in foreign currencies are translated into the relevant
functional currencies using the exchange rate in effect on the date of the transaction.

Forward Exchange Contracts

The premium or discount arising at the inception of forward exchange contracts is amortised as expense or income over the life of contract.
Exchange differences on such contracts except the contracts which are long-term foreign currency monetary items, are recognised in the
statement of profit and loss in the period in which the exchange rates change, any profit and loss arising on cancellation or renewal of forward
exchange contract is recognized as income or as expense for the year.

l) Government Grant

Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be
complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related
costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts
over the expected useful life of the related asset.

When the company receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and released to profit
or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset i.e. by equal annual instalments. When
loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate,
the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value
and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is
subsequently measured as per the accounting policy applicable to financial liabilities.

m) Revenue recognition

With effect from 1 April 2018, the Company has adopted IND AS 115 'Revenue from Contracts with Customers' which introduces a new five-
step approach to measuring and recognising revenue from contracts with customers. Under IND AS 115, revenue is recognised on satisfaction
of performance obligation at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring

goods or services to a customer. The Company has elected to apply the Cumulative catch up method in adopting IND AS 115. In accordance
with the cumulative catch-up transition method, the comparatives have not been retrospectively adjusted. Applying the practical expedient
as given in Ind AS 115, the Company has not disclosed the remaining performance obligation related disclosures. Revenue is recognised to
the extent that it is probable that the economic benefits will flow to the Company and can be reliably measured. The Company bases its
estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

A. Sale of Goods

Revenue is recognized on satisfaction of performance obligation at an amount that reflects the consideration to which the Company
expects to be entitled in exchange for transferring goods to a customer.

B. Interest Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest income is
recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over
the expected life of the financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial asset
or to the amortised cost of a financial liability. When calculating the effective interest rate, the management estimates the expected
cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit losses. Interest
income is included in finance income in the statement of profit and loss.

n) Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the
use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value
assets. The Company recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying
assets.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available
for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs
incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are
depreciated on a straight-line basis over the lease term. If ownership of the leased asset transfers to the Company at the end of the lease
term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The
right-of-use assets are also subject to impairment.

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments
to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease
incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value
guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company
and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate.

Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce
inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date
because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities
is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease
liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future
payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an
option to purchase the underlying asset. The Company's lease liabilities are included in Interest-bearing loans and borrowings

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases of Land & building (i.e., those leases that have
a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-
value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term
leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified
as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in revenue in the
statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added
to the carrying amount of the leased asset and recognised over the lease term on the same.

o) Income Tax

The income tax expense or credit for the year is the tax payable on the current year's taxable income based on the applicable income tax rate
for each jurisdiction adjusted by changes in deferred tax assets and liabilities (including MAT) attributable to temporary differences and to
unused tax losses.

Deferred tax is provided using the balance sheet approach on temporary differences at the reporting date between the tax bases of assets
and liabilities and their carrying amounts for financial reporting purpose at reporting date. Deferred income tax assets and liabilities are
measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates
on deferred income tax assets and liabilities is recognized as income or expense in the year that includes the enactment or the substantive
enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against
which the deductible temporary differences and tax losses can be utilized. The Company offsets current tax assets and current tax liabilities,
where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the
asset and settle the liability simultaneously.

Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws in India, which is likely to give future economic
benefits in the form of availability of set off against future income tax liability. MAT is recognised as deferred tax assets in the Balance Sheet
when the asset can be measured reliably and it is probable that the future economic benefit associated with the asset will be realised.

p) Cash flow statement

Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature,
any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or
financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

q) Financial instruments

Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual provisions of the instruments.
Financial Assets
Initial Recognition

All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at
transaction price. Transaction cost that are directly attributable to the acquisition or issue of financial assets and financial liabilities, which are
not at fair value through profit or loss, are added to the fair value on initial recognition

Classification and Subsequent Measurement: Financial Assets

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income ("FVOQ")
or fair value through profit or loss ("FVTPL") on the basis of following:

• entity's business model for managing the financial assets and

• contractual cash flow characteristics of the financial asset.

Debt Instruments

Amortised Cost

A financial asset is subsequently measured at amortise cost, if the financial asset is held within a business model, whose objective is to hold
the asset in order to collect contractual cash flow and the contractual term of financial asset give rise on specified date to cash flow that are
solely payment of principal and interest on principal amount outstanding.

Fair Value through Other Comprehensive Income

Financial assets that are held within a business model whose objective is achieved by both, selling financial assets and collecting contractual
cash flows that are solely payments of principal and interest, are subsequently measured at fair value through other comprehensive income.
Fair value movements are recognized in the other comprehensive income (OCI). Interest income measured using the EIR method and
impairment losses, if any are recognised in the Statement of Profit and Loss. On derecognition, cumulative gain or loss previously recognised
in OCI is reclassified from the equity to 'other income' in the Statement of Profit and Loss.

Fair Value through Profit or Loss

A financial asset is classified and measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through
OCI.

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.

Financial Liabilities

Initial Recognition

Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value through profit and
loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities are held at amortised cost, using the
effective interest method.

Classification and Subsequent Measurement: Financial liabilities

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair value through profit
or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss.

Impairment of financial assets

Financial assets, other than those at FVTPL, are assessed for indicators of impairment at the end of each reporting period. The Company
recognises a loss allowance for expected credit losses on financial asset. In case of trade receivables, the Company follows the simplified
approach permitted by Ind AS 109 - Financial Instruments for recognition of impairment loss allowance. The application of simplified approach
does not require the Company to track changes in credit risk. The Company calculates the expected credit losses on trade receivables using a
provision matrix on the basis of its historical credit loss experience.

Derecognition of financial instruments

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the
contractual rights to receive the cash flows from the asset. A financial liability is derecognised when the obligation specified in the contract is
discharged, cancelled or expires.

Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset
the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

r) Fair value measurements

The Company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability
takes place either:

♦ In the principal market for the asset or liability. Or

♦ In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are

Categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement
as a whole;

Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly
observable.

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the fair value hierarchy as explained above.

s) Employee benefits
Defined contributions plan

Contributions to defined contribution schemes such as employees' state insurance, labour welfare fund, employees provident fund, employee
pension scheme etc. are charged as an expense based on the amount of contribution required to be made as and when services are rendered
by the employees. Company's provident fund contribution, in respect of certain employees, is made to a government administered fund and
charged as an expense to the Statement of Profit and Loss. The above benefits are classified as Defined Contribution Schemes as the Company
has no further defined obligations beyond the monthly contributions.

Defined benefit plans

The Company's Liabilities on account of Gratuity and Earned Leave on retirement of employees are determined at the end of each financial
year on the basis of actuarial valuation certificates obtained from Registered Actuary in accordance with the measurement procedure as per
Indian Accounting Standard (Ind AS) -19., 'Employee Benefits' The gratuity liability is covered through a policy taken by a trust established
under the group gratuity scheme with Life Insurance Corporation of India (LIC). The costs of providing benefits under these plans are also
determined on the basis of actuarial valuation at each year end. Actuarial gains and losses for defined benefit plans are recognized through
OCI in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods.

The Defined Benefit Plan can be short term or Long terms which are defined below:

(i) Short term Employee benefit

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the
end of the period in which the employees render the related service are recognised in respect of employees' services up to the end of
the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented
as current employee benefits obligations in the balance sheet.

(ii) Long term Employee benefits

Compensated absences which are not expected to occur within 12 months after the end of the period in which the employee renders
the related services are recognized as a liability at the present value of the defined benefit obligation at the balance sheet date.

t) Segment reporting

An operating segment is a component of the Company that engages in business activities from which It may earn revenues and incur
expenses, whose operating results are regularly reviewed by the company's chief operating decision maker to make decisions for which
discrete financial information is available. Based on the management approach as defined in Ind AS 108, the chief operating decision maker
evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments
and geographic segments. The Company has two business segments i.e. manufacturing of Aluminium Extruded products and manufacturing
of Transmission and Distribution Line as per the management. However, as per the Ind AS- 108 "Operating segments" specified under Section
133 of the Companies Act, 2013, there are no reportable operating or geographical segments applicable to the Company.

u) Borrowings

Borrowings are measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
recognised in profit or loss over the period of the borrowings using effective interest method. Fees paid on the establishment of loan facilities
are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. To the extent
there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity
services and amortised over the period of the facility to which it relates.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12
months after the reporting period. Where there is a breach of a material provision of a long-term loan arrangement on or before the end of the
reporting period with the effect that the liability becomes payable on demand on the reporting date, the entity does not classify the liability as
current, if the lender agreed, after the reporting period and before the approval of the financial statements for issue, not to demand payment
as a consequence of the breach.

v) Earnings per share

Basic earnings per share is computed by dividing the net profit for the period attributable to the equity shareholders of the Company by
the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding
during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity
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 for the period attributable to equity shareholders and the weighted
average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

w) Derivatives and Hedge Accounting

Derivatives are initially recognised at fair value and are subsequently remeasured to their fair value at the end of each reporting period. The
resulting gains / losses is recognised in the Statement of Profit and Loss immediately unless the derivative is designated and effective as a
hedging instrument, in which event the timing of recognition in profit or loss / inclusion in the initial cost of non-financial asset depends on
the nature of the hedging relationship and the nature of the hedged item.

The Company complies with the principles of hedge accounting where derivative contracts are designated as hedge instruments. At the
inception of the hedge relationship, the Company documents the relationship between the hedge instrument and the hedged item, along
with the risk management objectives and its strategy for undertaking hedge transaction, which can be a fair value hedge or a cash flow hedge.

a) Fair value hedges -

Changes in fair value of the designated portion of derivatives that qualify as fair value hedges are recognised in profit or loss immediately,
together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair
value of the designated portion of hedging instrument and the change in fair value of the hedged item attributable to the hedged risk
are recognised in the Statement of Profit and Loss in the line item relating to the hedged item.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer
qualifies for hedge accounting. The fair value adjustment to the carrying amount of the hedged item arising from the hedged risk is
amortised to profit or loss from that date.

b) Cash flow hedges -

The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in the
other comprehensive income. The gains / losses relating to the ineffective portion is recognised in the Statement of Profit and Loss.

Amounts previously recognised and accumulated in other comprehensive income are reclassified to profit or loss when the hedged
item affects the Statement of Profit and Loss. However, when the hedged item results in the recognition of a non-financial asset, such
gains / losses are transferred from equity (but not as reclassification adjustment) and included in the initial measurement cost of the
non-financial asset.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer
qualifies for hedge accounting. Any gains/losses recognised in other comprehensive income and accumulated in equity at that time
remains in equity and is reclassified when the underlying transaction is ultimately recognised. When an underlying transaction is no
longer expected to occur, the gains / losses accumulated in equity is recognised immediately in the Statement of Profit and Loss.