Accounting Policies of Kiran Print Pack Ltd. Company

Mar 31, 2024

3.01 Current versus non-current classification

The Company has identified twelve months as its operating cycle. The operating cycle is the time between the acquisition of
assets for processing and their realization in cash and cash equivalents.

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is
treated as current when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the
reporting period. All other assets are classified as non-current.

All liability is current when:

• It is held primarily for the purpose of trading

• It is due to be settled within twelve months after the reporting period, or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets
and liabilities.

Gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is
recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

3.02 Fair value measurement

Financial instruments are recognised when the Company becomes a party to the contractual provisions of the instrument. Fair
value measurement is given in Note 33. 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.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the
asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in
its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the standalone financial statements are categorized
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 assets and liabilities that are recognised in the standalone financial statements, the Company determines whether transfers
have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant
to the fair value measurement as a whole) at the end of each reporting period.

At each reporting date, the Management analyses the movements in the values of assets and liabilities which are required to be
remeasured or re-assessed as per the Company''s accounting policies. For this analysis, the Management verifies the major
inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant
documents.

The management also compares the change in the fair value of each asset and liability with relevant external sources to
determine whether the change is reasonable.

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.

3.03 Use of estimates and judgements

The preparation of the Company''s standalone financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the accompanying disclosures,
and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that
require a material adjustment to the carrying amount of assets or liabilities affected in future years.

Estimates and assumptions

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in
the year in which the estimates are revised and future periods are affected. The key assumptions concerning the future and
other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment
to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its
assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and
assumptions about future developments, however, may change due to market changes or circumstances arising that are
beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

3.04 Revenue recognition

The Company has adopted Ind AS 115, Revenue from Contracts with Customers, with effect from April 01, 2018. The Company
has applied the following accounting policy for revenue recognition:

Revenue from contracts with customers:

Step 1. Identify the contract(s) with a customer: A contract is defined as an agreement between two or more parties that
creates enforceable rights and obligations and sets out the criteria for every contract that must be met.

Step 2. Identify the performance obligations in the contract: A performance obligation is a promise in a contract with a
customer to transfer a good or service to the customer.

Step 3. Determine the transaction price: The transaction price is the amount of consideration to which the Company expects to
be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of
third parties.

Step 4. Allocate the transaction price to the performance obligations in the contract: For a contract that has more than one
performance obligation, the Company will allocate the transaction price to each performance obligation in an amount that
depicts the amount of consideration to which the Company expects to be entitled in exchange for satisfying each performance
obligation

Step 5. Recognise revenue when (or as) the entity satisfies a performance obligation.

The Company satisfies a performance obligation and recognises revenue over time, if one of the following criteria is met:

1. The customer simultaneously receives and consumes the benefits provided by the Company''s performance as the Company
performs; or

2. The Company''s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or

3. The Company''s performance does not create an asset with an alternative use to the Company and the entity has an
enforceable right to payment for performance completed to date.

Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined
terms of payment. The Company assesses its revenue arrangements against specific criteria to determine if it is acting as
principal or agent.

Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined
terms of payment. The Company assesses its revenue arrangements against specific criteria to determine if it is acting as
principal or agent.

For contracts where the Company bears certain indirect tax as its own expense, and are effectively acting as principals and
collecting the indirect taxes on their own account, revenue from operations is presented as gross of such indirect taxes. In
cases, where the total consideration is exclusive of certain indirect taxes and other duties, the Company is acting as an agent
and revenue from operations is accounted net of indirect taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue
can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the
consideration received or receivable, taking into account contractually defined terms of payment and including taxes or duties
collected as principal contractor. Revenue earned in excess of billing has been reflected as unbilled revenue and billing in excess
of revenue has been reflected as unearned revenue.

Interest income

Financial instruments which are 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 Company estimates the expected cash flows by considering all the contractual terms of the financial
instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses.
Interest income is included in other income in the statement of profit and loss.

Dividends

Dividend is recognised when the Company''s right to receive the payment is established.

Trade receivables

A receivable represents the Company''s right to an amount of consideration that is unconditional (i.e., only the passage of time
is required before payment of the consideration is due).

3.05 Taxes

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities in accordance the Income Tax Act, 1961. The tax rates and tax laws used to compute the amount are those that are
enacted or substantively enacted at the reporting date in the country as per the applicable taxation laws where the Company
operates and generates taxable income.

Current tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity. Management
periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject
to interpretation and establishes provisions where appropriate.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and liabilities and their carrying
amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

• When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not
a business combination and at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.

• In respect of taxable temporary differences associated with investments in subsidiaries, when the timing of the reversal of the
temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable
future

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any
unused tax losses. The Company recognises a deferred tax asset only to the extent that it has sufficient taxable temporary
differences or there is convincing other evidence that sufficient taxable profit will be available against which such deferred tax
asset can be realised, except

• When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of

an asset or liability in a transaction that is not a business combination and, at the time of the transaction affects neither the
accounting profit nor taxable profit or loss.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised
deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that
future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised
or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting
date.

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other
comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI
or directly in equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against
current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

On March 30, 2019, MCA has issued amendment regarding the income tax Uncertainty over Income Tax Treatments. The
notification clarifies the recognition and measurement requirements when there is uncertainty over income tax treatments. In
assessing the uncertainty, an entity shall consider whether it is probable that a taxation authority will accept the uncertain tax
treatment. This notification is effective for annual reporting periods beginning on or after April 1, 2019. As per the Company''s
assessment, there are no material income tax uncertainties over income tax treatments.

3.06 Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other
borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an
entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences between the foreign
currency borrowing and the functional currency borrowing to the extent regarded as an adjustment to the borrowing costs.

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Mar 31, 2014

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the applicable accounting standards notified under the Companies (Accounting Standards) Rules, 2006 and relevant presentational requirements of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention. Accounting policies not stated explicitly otherwise are consistent with the generally accepted accounting principles.

a. Presentation and disclosure of financial statements

The financial statements are prepared as per revised Schedule VI notified under the Companies Act, 1956.

b. Tangible fixed assets

Tangible fixed assets are stated at their original cost including incidental expenses related to acquisition and installation, less accumulated depreciation.

c. Depreciation on tangible fixed assets

Depreciation on all tangible fixed assets has been provided on straight line method as per the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on assets acquired and/or sold during the year is provided on pro-rata basis.

d. Investments

Long term investments are carried at cost and any diminution in value is not recognized as the same is considered to be temporary in nature.

e. Inventories

Inventories of Materials and Printing Consumables are valued at lower of cost and net realiseable value after providing for obsolescence and other losses wherever considered necessary.

f. Income Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer. Revenues from services are recognized when the services are rendered. The Company collects applicable Sales Tax and Value Added Tax on behalf of the Government and therefore these are not economic benefits flowing to the Company and are excluded from the revenue.

g. Employee benefits

The Company''s employees are covered under the Employees Group Gratuity Assurance Scheme of Life Insurance Corporation of India. The Company accounts for Gratuity liability equivalent to the premium amount payable to Life Insurance Corporation of India every year. Bonus is accounted on cash basis.

h. Taxes on Income

Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961. Deferred tax is recognized on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognized for all timing differences. Deferred tax assets are recognized only if there is virtual certainty that there will be sufficient future taxable income available to realize such assets and are reviewed at each Balance Sheet date.

b. Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

c. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date

The Company has neither issued any bonus shares nor for consideration other than cash and has also not bought back any shares during the period of five years immediately preceding the reporting date.

d. Details of shareholder holding more than 5 % shares in the Company

(As per the records of the Company)

Equity shares of Rs. 10 each fully paid

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Mar 31, 2013

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the applicable accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and relevant presentational requirements of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention. Accounting policies not stated explicitly otherwise are consistent with the generally accepted accounting principles.

a. Presentation and disclosure of financial statements

The financial statements are prepared as per revised Schedule VI notified under the Companies Act, 1956.

b. Tangible fixed assets

Tangible fixed assets are stated at their original cost including incidental expenses related to acquisition and installation, less accumulated depreciation.

c. Depreciation on tangible fixed assets

Depreciation on all tangible fixed assets has been provided on straight line method as per the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on assets acquired and/or sold during the year is provided on pro-rata basis.

d. Investments

Long term investments are carried at cost and any diminution in value is not recognized as the same is considered to be temporary in nature.

e. Inventories

Inventories of Materials and Printing Consumables are valued at lower of cost and net realiseable value after providing for obsolescence and other losses wherever considered necessary.

f. Income Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue from sale of goods is recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer. Revenues from services are recognized when the services are rendered. The Company collects applicable Sales Tax and Value Added Tax on behalf of the Government and therefore these are not economic benefits flowing to the Company and are excluded from the revenue.

g. Employee benefits

The Company''s employees are covered under the Employees Group Gratuity Assurance Scheme of Life Insurance Corporation of India. The Company accounts for Gratuity liability equivalent to the premium amount payable to Life Insurance Corporation of India every year. Bonus is accounted on cash basis.

h. Taxes on Income

Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961.

Deferred tax is recognized on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognized for all timing differences. Deferred tax assets are recognized only if there is virtual certainty that there will be sufficient future taxable income available to realize such assets and are reviewed at each Balance Sheet date.

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Mar 31, 2012

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the applicable accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and relevant presentational requirements of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention. Accounting policies not stated explicitly otherwise are consistent with the generally accepted accounting principles.

a.Presentation and disclosure of financial statements

During the year ended 31st March 2012, the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company, for the preparation and presentation of its financial statements. The Company has also reclassified the previous year figures in accordance with the requirements applicable in the current year.

b.Tangible fixed assets

Tangible fixed assets are stated at their original cost including incidental expenses related to acquisition and installation, less accumulated depreciation.

c.Depreciation on tangible fixed assets

Depreciation on all tangible fixed assets has been provided on straight line method as per the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on assets acquired and/or sold during the year is provided on pro-rata basis.

d.Investments

Long term investments are carried at cost and any diminution in value is not recognized as the same is considered to be temporary in nature.

e.Inventories

Inventories of Materials and Printing Consumables are valued at lower of cost and net realiseable value after providing for obsolescence and other losses where considered necessary.

f.Income Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow t o the Company and the revenue can be reliably measured. Revenue from sale of goods are recognized when all the significant risks and rewards of ownership of the goods have been passed to the buyer. Revenues from services are recognized when the services are rendered. The Company collects applicable Sales Tax, Value Added Tax and Service Tax on behalf of the Government and therefore these are not economic benefits flowing to the Company and are excluded from the revenue.

g.Employee benefits

The Company’s employees are covered under the Employees Group Gratuity Assurance Scheme of Life Insurance Corporation of India. The Company accounts for Gratuity liability equivalent to the premium amount payable to Life Insurance Corporation of India every year. Bonus is accounted on cash basis.

h.Taxes on Income

Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961.

Deferred tax is recognized on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognized for all timing differences. Deferred tax assets are recognized only if there is virtual certainty that there will be sufficient future taxable income available to realize such assets and are reviewed at each Balance Sheet date.

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Mar 31, 2010

A. Accounting Convention

The accompanying financial statements are prepared under the historical cost convention in accordance with applicable accounting standards and relevant presentational requirements of the Companies Act, 1956. Accounting policies not stated explicitly otherwise are consistent with the generally accepted accounting principles.

b. Fixed Assets

Fixed Assets are stated at their original cost including incidental expenses related to acquisition and installation, less accumulated depreciation.

c. Depreciation

Depreciation on all fixed assets has been provided on straight fine method as per the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on assets acquired and/or sold during the year is provided on pro-rata basis.

d. Investments

Investments are carried at cost and any diminution in value is not recognized as the same is considered to be temporary in nature.

e. Inventories

Inventor es of Materials and Printing Consumables are valued at lower of cost and net realiseable value.

f. Income Recognition

Sales tax and Service Tax collections are treated as liability and not as revenue of the Company.

g. Employee benefits

The Companys employees are covered under the Employees Group Gratuity Assurance Scheme of Life Insurance Corporation of India. The Company accounts for Gratuity liability equivalent to the premium amount payable to Life Insurance Corporation of India every year and the same is included under Salaries, Wages & Other Emoluments. Bonus is accounted on cash basis.

h. Provision for Taxation

Provision for Tax is made for both current and deferred taxes. Provision for current income tax is made in accordance with the Indian Income Tax Act, 1961. The Company provides for deferred tax based on the tax effect of timing differences resulting from the recognition of items in the financial statements and in estimating its current tax liability. Deferred tax asset is recognized if there is a reasonable certainty of realization. The effect of deferred taxes of a change in tax rates is recognized in the Profit & Loss Account and.is reviewed at the end of each year.