Accounting Policies of JLA Infraville Shoppers Ltd. Company

Mar 31, 2024

B. Significant Accounting Policies:

The Financial Statements have been prepared on the historical cost basis except for following assets and liabilities
which have been measured at fair value amount:

i) Certain Financial Assets and Liabilities (including derivative instruments),

ii) Defined Benefit Plans - Plan Assets and

iii) Equity settled Share Based Payments

The Financial Statements of the Company have been prepared to comply with the Indian Accounting standards
(''Ind AS''), including the rules notified under the relevant provisions of the Companies Act, 2013, (as amended
from time to time) and Presentation and disclosure requirements of Division IIof Schedule III to the Companies
Act, 2013,(I nd AS Compliant Schedule III) as amended from time to time.

B.2 Summary of Significant Accounting Policies

(a) Current and Non-Current Classification

The Company presents assets and liabilities in theBalance Sheet based on Current/ Non-Currentclassification.

An asset is treated as Current when it is -

(1) Expected to be realised or intended to be sold or consumed in normal operating cycle;

(2) Held primarily for the purpose of trading;

(3) Expected to be realised within twelve monthsafter the reporting period, or

(4) Cash or cash equivalent unless restricted frombeing exchanged or used to settle a liability for
at least twelve months after the reporting period.

All other assets are classified as non-current

A liability is current when:

(1) It is expected to be settled in normal operating cycle;

(2) It is held primarily for the purpose of trading;

(3) It is due to be settled within twelve months afterthe reporting period, or

(4) There is no unconditional right to defer thesettlement of the liability for at least twelvemonths after
the reporting period.

The Company classifies all other liabilitiesas non-current

Deferred tax assets and liabilities are classified asnon-current assets and liabilities

(b) Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, netof recoverable taxes, trade discount and rebates
less accumulated depreciation and impairment losses, if any. Such cost includes purchase price, borrowingcost
and any cost directly attributable to bringingthe assets to its working condition for its intended use, net charges
on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the assets.

In case of land theCompany has availed fair value as deemed cost onthe date of transition to Ind AS.

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate,
only when it is probable that future economic benefits associated with the item will flow to the entity and the
cost can be measured reliably.

Depreciation on Property, Plant and Equipment is provided using written down value method on depreciable
amount except in case of certain assets of Oil to Chemicals segment which are depreciated using straight line
method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies
Act, 2013 except in respect of the following assets, where useful life is different than those prescribed in
Schedule II;

(c) Intangible Assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less
accumulated amortisation/depletion and impairment losses, if any. Such cost includes purchase price, borrowing
costs, and any cost directly attributable to bringing the asset to its working condition for the intended use,
net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable
to the Intangible Assets.

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the entity and the cost
can be measured reliably.

Gains or losses arising from derecognition of an Intangible Asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss
when the asset is derecognised. The Company''s intangible assets comprises assets with finite useful life which
are amortised on a straight-line basis over the period of their expected useful life.

(d) Cash and Cash Equivalents

Cash and cash equivalents comprise of cash on hand, cash at banks, short-term deposits and short-term highly
liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value.

(e) Finance Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are
regarded as an adjustment to the interest cost. Borrowing costs that are directly attributableto the acquisition or
construction of qualifying assets are capitalised as part of the cost of suchassets. A qualifying asset is one that
necessarily takes substantial period of time to get ready for i ts intended use.

Interest income earned on the temporary investmentof specific borrowings pending their expenditure on
qualifying assets is deducted from the borrowingcosts eligible for capitalisation.All other borrowing costs are
charged to the Statement of Profit and Loss for the period for which they are incurred.

(f) Inventories

Items of inventories are measured at lower ofcost and net realisable value after providing forobsolescence, if any,
except in case of by-productswhich are valued at net realisable value. Cost of inventories comprises of cost
of purchase,cost of conversion and other costs including manufacturing overheads net of recoverable taxes
incurred in bringing them to their respective present I ocation and condition.

Cost of finished goods, work-in-progress, rawmaterials, chemicals, stores and spares, packing materials,
trading and other products aredetermined on weighted average basis.

---

Mar 31, 2015

A) Basis of preparation of financial statements

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP] including the Accounting Standards notified under the relevant provisions of the Companies Act, 2013. The financial statements have been prepared on accrual basis under the historical cost convention.

b) Inventories

Trading Goods are valued at cost or net realizable value whichever is lower.

c) Revenue Recognition

Revenues are recognized and accounted for on accrual basis except in cases where significant uncertainties as to its measurability or collectability exist.

d) Fixed Assets

i) Tangible Asset: - Tangible assets are stated at cost less depreciation and impairment losses, if any. The cost comprises the purchase price and any other attributable costs of bringing the assets at its working condition for the intended use.

ii) Intangible Assets/- Intangible assets are carried at cost less accumulated amortization and impairment losses, if any. The cost of an intangible asset comprises its purchase price, including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities], and any directly attributable expenditure on making the asset ready for its intended use and net of any trade discounts and rebates.

iii) Depreciation:- Depreciation has been provided on the written down value method based on the useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

e) Earning Per Shares

Basic earnings per share are computed by dividing the profit/(loss] attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the profit/(loss] for the period attributable to equity shareholders and the weighted average number of equity shares outstanding during the period are adjusted for the effects of all diluted potential equity shares.

f) Taxation

i) Income Tax

Provision for Income Tax is made on the basis of estimated taxable income for the current accounting period and in accordance with provisions as per Income Tax Act, 1961.

ii) Deferred Tax

Deferred tax resulting from "timing difference" book and taxable profit for the year is accounted for using the tax rates and laws that have enhanced or substantially enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the asset will be adjusted in future. Permanent timing difference adjustments are not accounted for in provisions.

g) Impairment Of Assets

An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and the impairment cost is charged to profit and loss account in the year in which an asset is identified as impaired. The impairment loss recognized in prior accounting year is reversed if there has been a change in the estimate of recoverable amount.

h) Investments Quoted investments

Short term investment are stated at cost or market price , whichever is lower. Long term investments are valued at cost.

Unquoted investment:-

Short term investments are stated at cost. Long term investments are valued at cost.

i) Provisions , Contingent Liabilities

Provision in respect of present obligation, arising out of past events is made in accounts When reliable estimates can be made of the amount of obligation. Contingent liabilities (if material) are disclosed by way of Notes on Accounts.